The Tribune.
Full Citation
Permanent Link: http://ufdc.ufl.edu/UF00084249/02899
 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: 5/22/2007
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_02899
System ID: UF00084249:02899

Full Text

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Sunshine closure to lead to 18 job losses Arthur Foulkes onwha't's next, fourth PLP. Derrick Knowles on neeww record


FNM says PLP

awarded huge

contracts just

before election

Tribune Staff Reporter
PLP government contracts
"to the tune of $80 million"
were awarded to contractors "a
few months ago and days lead-
ing up to the election," the
FNM revealed yesterday.
This included one contract
worth $3.1 million to build a
new school in Selina Point on
Acklins Island which would
provide schooling for only 37
children a cost equivalent to
$80,000 per child.
"Not that they (the children)
do not deserve a state of the art
school but I guarantee you
can build one for far less than
3.1 million," said FNM vice
chairman and senator Johnley
Mr Ferguson was speaking at a
conference called to respond to
statements made by PLP chair-
man Raynard Rigby about the
FNM's decision to put on hold
the construction of the straw mar-
ket building since taking power.
On Sunday, Mr Rigby
described the decision as "an
act of betrayal and the grossest
of witch-hunting by the FNM."
He said that it gave a clear
indication that the government
did not intend to honour the
agreements and contracts
entered into by the previous
administration, and declared that
the government owed the public
an explanation for their actions.

To this, the party vice-chair-
man responded that the PLP is
continuing in a "vein of mis-
leading the Bahamian public
and investors" about "the posi-
tion of this government and the
way it's moving forward."
Describing Mr Rigby's state-
ment as "misleading", Mr Fergu-
son claimed that the government
has not stopped construction, but
merely suspended it in lieu of a
review of the $21.1 million con-
tract awarded in February.
Furthermore, he pointed out
that the PLP also cancelled sev-
eral contracts the FNM had put
in place months prior to the
2002 general eleciton.
These included roads in
South Andros and a clinic in
Abaco, he said.
A contract for an airport ter-
minal building in Mayaguana
was also put on hold, only to be
later returned to the original
"To date that terminal build-
ing has been given to I Group
(the Mayaguana development
company) as their office and to
date the people are still out in
the old building that was there,"
he added.
The party has expressed con-
cern as to how the Straw market
project, originally valued at $17
million, ultimately culminated
in the awarding of a contract
worth over $4 million more.
SEE page nine

Government buildings prepare for action

* WORK being done on the House and the Senate in preparation for the opening ceremony on
(Photo: Tim Clarke/Tribune staff)

Christie 'led PLP 'Thank

the way' on

You' rally is

race card, postponed
claims FNM to Saturday

Tribune Staff Reporter
FORMER prime minister Per-
ry Christie "led the way in play-
ing the race card" in the 2007
election, FNM vice chairman
Johnley Ferguson said yesterday.
During an internet chat on
Sunday PLP leader Perry
Christie reflected on his party's
loss and claimed that they had
been "the victim of propaganda
when it comes to the issue of
us playing the race card."
He said he believed race was
used by the FNM in the run up
to the election "in the most
wicked fashion" to shore up
white Bahamian's support for
the FNM.

Tribune Staff Reporter
THE Progressive Liberal Par-
ty has postponed its planned
rally at the Queen Elizabeth
Sports Centre until Saturday,
The Tribune has learned.
The postponement of the ral-
ly, which was scheduled to take
place tonight, resulted from the
party not getting permission in
time from the newly appointed
FNM government to house the
"Thank You" celebration at the
site, former PLP campaign gen-
eral Philip Galanis said yester-
Having received permission
late yesterday afternoon. Mr
Galanis said that the PLP will

PLP 'may

make legal

over seats

in Senate
A SERIOUS legal challenge
may ensue if PLPs are not
named to fill the three remain-
ing senate appointments by the
prime minister, a senior PLP
has told The Tribune.
The Leader of the Opposi-
tion, Perry Christie, has named
the four senators the official
opposition is automatically enti-
tled to. However, resulting from
the close outcome of the elec-
tion, Prime Minister Ingraham
may be compelled to name
three candidates of the PLP's
choosing to the Upper Cham-
ber, bringing the opposition's
number of senators to seven.
Former Attorney General
Allyson Maynard-Gibson leads
the list of appointments, along
with, businessman, Jerome
Fitzgerald who is making his
first foray into active politics-
attorney and defeated candi-
date fof Seabreeze, Hope Stra-
chan; and former Marco City
MP, Pleasant Bridgewater.
SEE page nine

RFC ctqrt

Contesting investigation
seats may into oil spill
cost PLP up

to $Im

Chief Reporter
THE PLP may have to spend
nearly $1 million contesting the
results of five seats in election
court, it was revealed yesterday.
This will be the case, as the
party is considering presenting
the greatest number of con-
stituencies to election court in
the country's history.
Senior PLP strategist Valen-
tine Grimes told The Tribune
that the PLP's legal team will
be headed by MP Cat Island,
Rum Cay and San Salvador,
Philip "Brave" Davis and is
expected to consist of lawyers
Wayne Munroe. Neville Adder-
ley and Gregory Moss.

Tribune Staff Reporter
ALMOST a week after it was
brought to the attention of the
Port Authority and The Tri-
bune, BEC officials claim to
have started an investigation
into the source of an oil slick
that is blighting the coastline in
front of its plant.
However, this action is mere-
ly to determine the source of
the spill, said BEC deputy gen-
eral manager Anthony Forbes
yesterday. No attempt to con-
tain it has yet been made. Mr
Forbes claims he was only made
aware of the problem when he
saw Monday's Tribune.
Photographs printed in Mon-
day's Tribune revealed that a
significant amount of oil has col-
lected on the surface of the

SEE page nine SEE page nine SEE page nine


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SFidelity MoneyBack IVIortgage

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SEE page nine


PAGE 2, TUESDAY, MAY 22, 2007

After one-term defeat, what's

the way forward for the PLP?

AS the dust settles from the
2007 election both national
political parties will no doubt be
assessing their standing in the country
and the challenges facing them -
external and internal.
The Free National Movement is,
of course, in the better position. Hav-
ing won the election, the primary
objective of Prime Minister Hubert
Ingraham and his colleagues is now to
govern well, even though they will
be taking a good look at their per-
formance, especially in some con-
stituencies they expected to win but
did not.
Opposition leader Perry Christie
and his colleagues muft not only
mount an effective opposition in par-
liament but they also face the daunt-
ing task of examining why they lost
the election and became the first one-
term government in Bahamian his-
tory and, more importantly, what to
do about it.
Political parties are notoriously
prone to over-confidence in an elec-
tion and perhaps they cannot be oth-
erwise, or at least cannot appear to
be. That is not so bad because to look
like losers even in the face of immi-
nent defeat is to invite annihilation.
What is far more dangerous is the
failure to face up to the reasons for
defeat and to take corrective mea-

P LP leaders are having great
difficulty coming to terms
with the fact that they lost the elec-
tion in the first place and if they do
not get past that hurdle they are not
likely to be honest with themselves in
answering the painful questions.
According to Mr Christie, the FNM,
does not have the "moral authority" to
govern, presumably because of the slim
margin of the popular vote. That makes
no sense at all and Mr Christie should
know it. If the FNM does not have the
authority to govern, who does?
The electoral system in The Bahamas
is basically the same as in Britain and in
most Commonwealth parliamentary
-. democracies. It is configured on con-
.stituencies and not on a national popu-
lar vote.
It is therefore possible for a party to
win the majority of seats in parliament
with a minority of the popular vote. A
government elected in this fashion
would have no less constitutional and
moral authority to govern.
As Mr Ingraham has already pointed
out, it has been some years since a
British government was elected with as



S _. -- .a8




much as 50 per cent of the popular vote.
Roughly the same system is in effect
in presidential elections in the United
States. It is on the basis of states won
and the electoral votes assigned to them
rather than a national popular vote. The
whole world knows that George W Bush
got fewer votes than Al Gore in 2002
but still became President.
Mr Christie and his party do a disser-
vice to the Bahamian people and espe-
cially young Bahamians whom he should
be educating about our system of gov-
ernment instead of trying to misinform
then just to save face for his party.

M r Christie and his colleagues
have also made statements
that seem to suggest that the FNM won
because it had more money, some from
the so-called white knights and some
from unnamed special interests.
The claim that the FNM has always
had easy access to money and has

Whoever the next PLP leader turns
out to be, he or she will have to do
what Perry Christie dismally failed to
do, and that is to rid the party of some
persistent bad attitudes and habits.

PLP leaders are having great
difficulty coming to terms with the
fact that they lost the election in the
first place and if they do not get past
that hurdle they are not likely to be
honest with themselves in answering
the painful questions.

always out-spent the PLP is simply
not true. In most of the elections
since 1967, the PLP has had no short-
age of money.
The owners of the Grand Bahama
Port Authority, beginning with Wal-
lace Groves, have contributed liber-
ally to the PLP ever since 1968. They
have also contributed generously to
high-ranking individuals in the PLP
and some of the money donated to
the party found its way into private
bank accounts.
Furthermore, in later years the
PLP was well-funded by new PLP
millionaires as well as a succession of
foreigners wanting to do business in
The Bahamas, not all of them exact-
ly desirable.
Some in the latter category were
not so much interested in fostering
the democratic process in The
Bahamas. They were clearly intent
on buying the favour of the PLP in
The most notorious case of this kind
was that of Mohamnad Harajchi who
made perhaps the biggest contribution
to any Bahamian political party from a
single source. Mr Harajchi said it was
$10 million but Mr Christie suggested
that it was nearer $3 million.
In any event, the man who is now
complaining about how much money
the FNM got and from whom saw noth-
ing wrong with accepting such a large
contribution from a foreigner who had a
specific objective in mind, and a dubious
one at that.
The man who after five years in pow-
er is now talking about campaign finance
reform, that same man when pressed
about the Harajchi affair had a very
revealing response. Said Mr Christie:
"So what!"
Incidentally, a prominent Bahamian
cleric who had a lot to say about
"reports" of FNM expenditure in a pre-
vious election had few if any pro-
nouncements to make about the clearly
scandalous Harajchi affair.

t takes a lot of money to run
elections in The Bahamas, and
a party or a candidate can lose for lack
of sufficient funds to mount a credible
campaign and to maintain an effec-
tive organisation on the ground. But
no election has been lost or won pri-
marily because of money-since the
The PLP was defeated in the last elec-
tion simply because it lost favour with
the Bahamian electorate, and it lost

favour for a number of reasons, one
being a failure of leadership.
This had its roots in the past when
Sir Lynden Pindling decided to sup-
port Perry Christie for leadership of
the party over Bernard Nottage. A
majority of the hierarchy of the party
did not think Mr Christie could cut it,
but Sir Lynden liked Mr Christie and
apparently had ideas about control-
ling him.
So he got the rank-and-file of his par-
ty to support Mr Christie in a rancorous
campaign that led to Dr Nottage's
departure from the party. The hierarchy
was right about Mr Christie.
Now, despite the usual noises about
confidence and loyalty, the PLP would
be very shortsighted if it allowed Mr
Christie to stay on and to lead it into the
next election. He is incapable of carrying
out the reforms the party so desperate-
ly needs.
The problem is that some of those
who were previously seen as potential
successors to Mr Christie have been
badly tarnished. The once promising Dr
Nottage is regarded as an opportunist by
some PLPs who believe he only went
back to the party because of personal
Others who were regarded as future
leaders in 2002 have lost considerable
lustre. Obie Wilchcombe, who main-
tained a pretty good image for most of
the PLP's five years in office, revealed
some disturbing traits in recent months
and stunned the -country with his
response to allegations of vote-buying in
his constituency.
Fred Mitchell, a former favourite with
many PLPs and others as well, was a
big loser as he developed an image of
arrogance and intolerance of criticism.
Some of the pronouncements on his
website, Bahamas Uncensored, since
the election have been vicious, racist
and abusive.
Whoever the next PLP leader turns
out to be, he or she will have to do what
Perry Christie dismally failed to do, and
that is to rid the party of some persistent
bad attitudes and habits.
He will have to subscribe to the new
political culture in which victimisation,
unfair practices and an attitude of enti-
tlement have no place. He will have to
convince the Bahamian people of a gen-
uine commitment to democracy and
fair-play and a renounce claims to spe-
cial privileges. That will be a tall order
for the PLP.

0 In brief

Man appears
in court
on murder

A 20-year-old Saffron Street
man was arraigned in Magis-
trate's Court yesterday on a
murder charge.
Tyson Deveaux was
arraigned before Magistrate
Susan Sylvester at court 11 in
Nassau Street and charged with
the murder of Corrie Bethel.
It is alleged that Deveaux
intentionally and unlawfully
caused the death of Bethel on
Thursday, May 10.
Deveaux was not required to
enter a plea to the murder
He was also arraigned on a
charge of causing harm. It is
alleged that on Wednesday,
May 16, he unlawfully caused
harm to Detective Inspector
Christopher Wright.
It is also alleged that on that
same day, he caused harm to
Detective Sergeant 1239 May-
It is further alleged that on
Wednesday, May 16, while at
the CDU office on Thompson
Boulevard, Deveaux behaved
in a disorderly manner.
He pleaded not guilty to
these charges.
The case was adjourned to
September 14.

PRESIDENT Hugo Chavez's
government assumed opera-
tional control of the Venezue-
la's largest telecommunications
company on Monday, complet-
ing its nationalisation by
appointing a new board of
directors, according to Associ-
ated Press.
Telecommunications Minis-
ter Jesse Chacon said the
takeover of CA Nacional Tele-
fonos de Venezuela is part of a
march toward a "new socialist
state." Electric companies and
oil fields also have been affect-
ed by the nationalisation drive.
The government said earlier
this month that it had raised its
ownership stake in CANTV to
86.2 per cent, in part by paying
US$572 million to New York-
based Verizon Communications
for its 28.5 per cent stake.
CANTV said the government
appointed Socorro Hernandez,
who has worked in Venezuela's
oil industry, as president of
CANTV's new board on Mon-
day. Other board members
include representatives of work-
ers as well as various govern-
ment ministries.
CANTV, which had been pri-
vatized in 1991, has nearly
13,000 employees and provides
phone service to 3.2 million
fixed-line customers as well as
6.7 million cellular customers
through its affiliate Movilnet.
The company also provides
Internet service.
Chacon predicted that
"Venezuelans are going to feel
an increase in quality, an
increase in coverage."

I I~ i I ; l l]

Local News.....................P l ,
Editorial/Letters. .................... .. ...o- ,ii
Advt ......................... ...... .-.. .....P10 l1
Business.................... ....... P1,2,3-4,5, 7
Woman......................... P1,2,3,,6,
Com ics.................................................. ..P ',:I
W weather ............................ ........ ........ 7


Miami Herald Sports.................J1-&2
Miami Herald Sports...........;...-... I. '
Local Sports................ A.....r...J


Monday-Saturday-8:30am- 5:30pm




Donafdc s furrtniture

And Appliance Centre

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For the stories behind

the news, read Insight

on Monday

1 -


OIn brief

Foulkes to
meet Port of
Palm Beach

I l
* DION Foulkes

MINISTER of Maritime
Affairs and Labour Dion
Foulkes will meet with the
chairman and other officials
of the Port of Palm Beach
District today.
The meeting will take
place at the Ministry of Mar-
itime Affairs and Labour in
the Post Office Building on
East Hill Street.
Mr Foulkes will meet with
Wayne Richards, chairman
of the Board of Commis-
sioners; Edward Oppel the
commissioner; Lisa Baer,
executive port director; and
Jarra Kaczwara, director of
business development, pub-
lic and community relations.
Ports are included in Sen-
ator Foulkes' portfolio, and
he will discuss ways to
enhance co-operation and
trade links between the
Bahamas and the Port of
Palm Beach.
The meeting is the first in
a series Mr Foulkes plans to
Shave with port officials in
various jurisdictions.
The meetings are intended
to deepen and expand
marine transportation capa-
bilities between the Bahamas
and other countries.

Man faces

A 20-YEAR-OLD Sun-
light Village man was
arraigned in Magistrate's
Ccart yesterday charged with
attempted murder.
It was alleged that on
Tuesday, May 15, Darvy St
Louis, alias Darvy Lewis,
attempted to cause the death
of Daniel Symonette.
St Louis, who was
arraigned before Magistrate
Guillemena Archer, was not
required to enter a plea to
the charge.
Bail for St Louis was
objected to, the prosecution
saying that it is still trying to
determine whether he has a
Attorney Eliezer Regnier
told the court that his client
had no previous convictions.
He also told the court that
his client had been severely
brutalised by police officers.
The matter was adjourned
to Wednesday for a bail hear-
ing and the case was
adjourned to September 18.

'We.t Bay SL Cable Beach

P. 0. Vx C 0 13"2 A

Nassau Bahr-n-.
TFl (2742) 327 .1073

Father's anger at

police handling

of son's death

Tribune Staff Reporter
THE behaviour of the police
has again been questioned
regarding the investigation into
the death of Jay Damianos.
The body of Mr Damianos,
22-years-old at the time of his
death, was found next to an
apartment on Paradise Island
on December 17 of last year.
Yet after five months, police
have still not determined if he
died accidentally, or was mur-
dered. Rather, his death
remains classified without fur-
ther update by police as mere-
ly "suspicious".
In an open letter to The Tri-
bune empathising with
Bernadette Christie, who is frus-
trated with police handling of
a shooting at her home, promi-
nent realtor, George Damianos,
father of the deceased,
expressed displeasure with the
manner in which his son's death
has been handled.
"Despite conclusive medical
evidence, the police have still
not classified my son's death as
a homicide. The so-called
'investigation' has been stag-
nant for months, and I cannot
even get the police to return my
phone calls," he said.
George Damianos' public
declaration that his son was
murdered follows a statement
by the brother of the deceased,
Nick Damianos, last February.
"The autopsy report clearly

* GEORGE Damianos

reveals that the cause of death
was asphyxiation caused by
strangulation. This has been
unequivocally confirmed by sev-
eral medical experts in the
Bahamas and the United
States," he said.
If medical experts have con-
cluded that Jay Damianos was
murdered, as his family has pub-
licly declared, serious questions
arise as to why the police have
not ruled his death a homicide,
sources indicate.

The Tribune has learned that
suspicious deaths are handled
differently than homicides.
With homicides, more senior
investigators handle the case,
with more oversight from supe-
riors, compared to deaths 'that
are regarded as merely "suspi-
No response from police offi-
cials on the claim that medical
authorities have ruled the mat-
ter a murder while they have
not may suggest that investi-
gators have not given the death
serious enough consideration,
friends of the family say.
Senior Assistant Commis-
sioner of Police, Ellison
Greenslade, pledged to get in
contact with Mr Damianos
when the letter and the fami-
ly's concerns were pointed out
to him by-.The Tribune.
Mr Greenslade, who has
recently taken over the crime
portfolio, said that he was not
able to comment specifically on
the matter at as he had not yet
been briefed on it, but along
with contacting Mr Damianos,
he pledged to review the file
and answer any questions sur-
rounding the matter.
Jay Damianos was last seen
by friends on the night of
December 17 after leaving the
Atlantis Resort at around
1.30am. He was supposed to
meet up with the same group
downtown, but he never
showed, and was found dead
hours later.

Three remain in custody after

attempted escape from centre

THREE girls,are still in
police custody today following
their failed escape attempt from
the Willie Mae Pratt centre for
The three girls broke out of
the centre at around 1pm on
Saturday, reportedly causing
some damage to the property
during their escape.
However, the girls were only
free for an hour before officers
from the Elizabeth Estates
police station were able to
apprehend the escapees.
Up until press time last night
the girls were still being held at

the police station while investiga-
tions into the matter continued.
The Ministry of Health and
Social Development yesterday
confirmed the incident and said
that the investigation will deter-
mine the circumstances sur-
rounding the break-out.
This escape by three residents
of the Willie Mae Pratt Centre
comes just days after reports
that one resident of the facility
had injured herself.
Although the incident was
first classified as an attempted
suicide, Minister of State for
Social Development Loretta

Butler-Turner said that there
was not yet sufficient evidence
to prove this claim.
Mrs Butler-Turner said that
the 14-year-old girl was still
being treated at Princess Mar-
garet Hospital.
A week prior to this incident,
staff members at the Willie Mae
Pratt Centre staged a "mini-
walk-out" in protest of what they
described as "dangerous work-
ing conditions" at the facility.
Some employees claimed that
they were being threatened and
in some cases even assaulted by
the girls.

Hoax email circulates false

rumours of Atlantis restaurant

A HOAX e-mail has been
circulated around Nassau incor-
rectly stating that an underwa-
ter restaurant has been opened
at Atlantis resort, The Tribune
has learned.
A Businesswire story released
by the Hilton Maldives Resort
& Spa in Rangalifinolhu, Mal-
dives seems to have been mis-
chievously altered and circulat-
ed via e-mail on Sunday by a
Several callers yesterday said
that they had received this

altered press release and its con-
tents were also carried in yes-
terday's Tribune in a story enti-
tled "Unique restaurant opens
at Atlantis".
The release stated that the
restaurant was located at
Atlantis Cove Resort and Spa
but is actually the Ithaa at the
Hilton Maldives Resort.
Carsten Schieck, refereed to
in the release as general man-
ager of the Cove Resort and
Spa, is actually general manag-
er of Hilton Maldives Resort &

Cafe Johnny Canoe will no longer be serving
hr-eakfost as of Wednesday the 23", of May,

We will continue to serve lunch and dinner from
11:30 a.mn,,o 11:00 p.m. Sunday to Thursday and
11:30 a.m. to midnight on Friday and Saturday.

We are sorry for any inconvenience.
-The Management of Caf4 Johnny Canoe -

While the other facts of the
story are correct, no hotel in the
Bahamas actually has such a
restaurant and the Maldives is
the home of the first ever all-
glass undersea restaurant.


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PAGE 4, TUESDAY, MAY 22, 2007

I **' TO H EDT

THERE HE goes ducking reality again!
Former prime minister Perry Christie when
confronted with the uncomfortable question of
why his party played the divisive race card
during the recent election, deflected the ques-
tion, assumed an injured air and claimed that
rather than being the perpetrators of racism,
he and his party were in fact the victims.
Well, Mr Christie, you could certainly have
fooled us indeed the whole nation. The
shroud of racism hung over your election cam-
paign like Caesar's ghost. It insinuated itself
into every possible crevice, whether by out-
right accusations, by innuendo or by the par-
ty's historically loaded slogan: "No turning
back." Every Bahamian knows what that
refers to, especially after Fred Mitchell's lec-
ture in March to high school students about
not forgetting their slave roots, and the impor-
tance of using their hard won right to vote in
the right way.
Speaking on a talk show five days later Sir
Arthur Foulkes told his listeners that race was
not a legitimate issue and should not be
exploited during an election.
Sir Arthur was satisfied that the race card
was being played to the hilt in this election -
and by the PLP.
"If you make a reference to the UBP, if
one politician makes a reference to the UBP
and accuses the FNM of wanting to go back to
the old days and to sellout and then another
politician at a meeting, say in Fox Hill, brings
up the race thing it connects pretty neatly (to
the race issue) I think.
"We should teach our children, our.young
people about our history, including the histo-
ry of slavery and race. I am all for thit. But I
do not believe that race is a legitimate issue in
this election nor for many elections gone. It is
not an issue," said Sir Arthur in an obvious ref-
erence to Mr Mitchell's slavery talk of a few
days earlier.
In an internet chat on the PLP's website on
Sunday, a caller who identified himself as a
white Bahamian, told how uncomfortable he
felt at PLP rallies because of the racial over-
tones. "I was made to feel at times, watching
and listening to the various rallies that I was
not really wanted," he said.
During the election a long time resident
told us how much she enjoyed going to FNM
rallies. "It's like one big family," she said, "I
feel so safe." Having no party affiliation, she
wanted to hear the issues from the governing
party and so she ventured out to a PLP rally.
There was hostility to her presence. The
speeches were racially bitter. She did not feel
safe. She concluded that the two parties

attracted a different type of Bahamian. Instead
of being one people they were polls apart. A
tragedy for such a small nation.
Mr Christie said he believed that race was
used in "the most wicked fashion." Not by
his party, of course.
"We knew very early on during the cam-
paign that the FNM was prepared to use the
race card against our party at every opportu-
nity," Mr Christie said. "They found it conve-
nient to do so whenever we were critical of
their deputy leader, Brent Symonette.
"I was specific in my explanation to the
Bahamian public that our criticism of Mr
Symonette had absolutely nothing to do with
the colour of his skin, but with the ethical
lapse he had made during his time in govern-
ment," said Mr Christie.
Oh, come now, Mr Christie. If this were so,
then why all the reference to the UBP, to Mr
Symonette's father, to "going back", all the
talk about the days of slavery. As old Abe
would say, "You may fool all of the people
some of the time; you can even fool some of
the people all of the time; but you can't fool all
of the people all of the time."
Mr Christie obviously does not appreciate
how much damage the former website of Fred
Mitchell has done to his party particularly
during this election. Although there is a dis-
claimer at the top of the website that "this
site does not represent the views of Fred
Mitchell, the Government of the Bahamas,
the PLP or the Ministry of Foreign Affairs" no
one believes it. They still regard it as the reflec-
tion of Fred Mitchell's views in particular and
the former PLP government in general. There
are even PLPs who believe that Mr Mitchell is
still the moving spirit behind it.
And this is what their website had to say
about Brent Symonette's appointment as
deputy prime minister and minister of foreign
affairs: "This is an absolute insult to the
Bahamian people. The people of the world
will now think that Brent Symonette repre-
sents what is Bahamian. We must quickly dis-
associate ourselves from this mistake."
No one complained when Fred Mitchell
represented the Bahamas. And yet foreigners
would be wrong if they believed that Mr
Mitchell's face told the whole story of who
and what is Bahamian, especially when
Bahamians come in so many racial mixes.
Regardless of the mix they are all equally
Bahamian, even, in some cases, more Bahami-
an than Mr Mitchell.
It would indeed be refreshing if one day Mr
Christie would look reality in the face and
come to terms with it.

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
Nassau Fax: (242) 328-2398
Freeport, Grand Bahama: 1-(242)-352-6608
Freeport fax: (242) 352-9348

Perry Christie and the race issue

EDITOR, The Tribune
I WRITE in response to your
May 15, 2007 editorial entitled
"Did the PLP court the church
for votes?"
One paragraph therein con-
vinced me more than anything
else that Bahamians must put
beyond doubt that religion has
no place in government.
The citizens of Turkey are
right to insist, by the millions,
on a strictly secular society.
You quoted one Bishop Neil
Ellis as saying: "Do you know
what could happen in this coun-
try (the Bahamas) if the Bishop
who has the largest congrega-
tion (meaning himself) has the
prime minister of the country
hooked up to him? Imagine
what could happen if the church
had a say in the prime minis-
ter's office?"
It is too frightening to con-
template. Wholesale victimisa-
tion and intimidation "in the
name of Jesus" of persons
whose views do not conform to
that of the church (whatever
that is), would become the
order of the day.
Neutrality in governance
would be no more. It would be
the Inquisition days all over
again; a return to the "the Earth
is flat" era.

It is unfortunate that the term
"...Christian values..." is
allowed to remain in our Con-
stitution without it being
Some Christians take this to
mean that Christianity is the
state religion of the Bahamas
and those of other religions are
not entitled to equal rights with
Already there are reports of
Christian managers favouring
their church members for jobs
over better qualified applicants
of other Christian denomina-
tions and other religions.
I am told that ZNS, the pub-
lic radio station, 'allows Christ-
ian clergy persons to use its air-
waves to spew intolerance of
other religions and their adher-
That is so sad. The Bahamas
is a multi-religious society.
There are also Bahamian Mus-
lims, Hindus, Jews, Sikhs,
Bahais, Rastafarians, Atheists
and others.
And that is why any sugges-
tion of the Prime Minister of
the Bahamas being "hooked up

to" the leader of any one of the
myriad of Christian denomina-
tions in the Bahamas today, a la
Neil Ellis, has to be an insult to
the intelligence of Bahamians.
If Neil Ellis et al want a say in
governing the country, they
must contest and win seats in
the general elections rather than
use religious superstition
(anointing the prime minister
with oil) in an attempt to influ-
ence governance by default.
The suggestion is the more
absurd when it is considered
that even Christians are in a
quandary over who is a Christ-
ian from Roman Catholics to
Christian Scientists to Jehovah's
Witnesses to Mormons.
Religion is a private matter.
The Lord Jesus, in the Christian
scripture, meant for it to be so.
See Matthew chapter six, verses
five and six.
A person's religion or lack of
it is nobody's business.
While the Constitution of the
Bahamas guarantees freedom
of religion, it also guarantees
freedom from religion.
I call on the government,
therefore, to recognize the same
and act accordingly.
May 19 2007

Thorough investigation

of election is needed

EDITOR, The Tribune
ON) May 2, 2007, the FNM
was officially certified as the
"winner" of the elections of
2007, they had a majority of 23
seats. According to the election
results the PLP lost at least 30
per cent of support from their
election total of 2002.
Since that date, and follow-
ing tally after recount after
recount, these results remain
the same. PLP supporters all
over the country and even a
Bahamian student from Lon-
don (YAK) have stated that the
PLP had won the election, and
that many illegal votes were
counted while many legal
votes were not.
Now my issue to PLPs is this
if this election was controlled
by the machinery that was con-
trolled by the Christie led Gov-
ernment with a non-partisan
election official in compliance

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with the law, how could they
now say the system failed the
PLP. Well good case to say
Christie is no leader.
Fortunately, the Right Hon-
ourable Hubert A Ingraham is
now Prime Minister of this great
Commonwealth of our lovely
Bahamas, he with great might
defeated the partisan ranting of
ZNS, Jones and Co...and as Per-
ry Gladstone Christie and the
PLP machinery did everything
in their power to prevent a fair
and legal process of his resound-
ing defeat at the polls.
In other words, these PLPs led
by the Chief himself, Perry
Christie used the enormous pow-
er of the government of the
Bahamas to snatch this election
but they failed. The people of the
Bahamas rejected them big time.
The elections of 2007 will
indeed be the untold story of
2007, it is more chilling than the
murder of Sir Harry Oakes.

The performance of Perry G
Christie, Fred Mitchell, Philip
Galanis, Valentine Grimes,
Obie Wilchcombe, Steve McK-
inney, "Lady" Russell and oth-'
er PLP operatives represent a
major sin against our Bahamian
I now call upon the Right
Honourable Hubert A Ingra-
ham to cause a thorough inves-
tigation and the prosecution of
all actions that crossed the line
and let the chips fall wheri. they
And because they art: a.ti-
mately responsible for tryi,' t u
grab the elections of 2007, I1 no, _
call upon Perry Gladstone
Christie and the PLP to resign
from public life completely.
They out.. they need to stay
out.. and out for good.
May 2007



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TUESDAY, MAY 22, 2007, PAGE 5



OIn brief

Man faces
charges of

GB Power offers $5k reward

after theft of copper wiring

A MAN charged with sev-
eral counts of fraud was
arraigned in Magistrate's
Court yesterday.
It is alleged that Clive Kent
Schroter, 37, of Lady Slipper
Avenue obtained from
Uylsse Berno cash in the
amount of $2,500 by false
pretences on Wednesday,
May 16.
It is also alleged that on
Friday, May 4, he obtained
from Emmanuella Etienne
$900 by false pretences and
with intent to defraud.
It is further alleged that on
Tuesday, May 15, Schroter
obtained from Yady Joseph
$1,000 by false pretences and
*that on Saturday, March 17,
while armed with a handgun,
he robbed Ernest Charles of
Schroter was not required
to enter a plea to the charges
and was remanded to Her
Majesty's Prison.

Entries are
sought for

THE Tribune will be pub-
lishing its annual 'Back to
School' supplement in
August/September. In prepa-
ration for the -supplement,
which will feature all gradu-
ating seniors who will be
attending university/college,
whether locally or abroad,
we invite all parents,
guardians and graduating
seniors to submit a profile on
the graduating seniors, along
with a photograph and con-
tact information.
The profile should include:
Name of student
Name of parents
A list of exams already
taken and the results e.g. -
Bahamas Junior Certificate
(BCs) exams and Pitman
A list of exams expected
to be taken Bahamas Gen-
eral Certificate of Secondary
Education (BGCSE) exams
The college/university
they expect to attend e.g. -
College of the Bahamas,
Harvard University, Univer-
sity of Miami
Name of degree expected
to be sought e.g .- Bachelors
degree in English, Bachelors
degree in Biology
What career they expect
to enter once their education
is completed a doctor, Math
teacher, engineer
All extracurricular activi-
ties club memberships, team
sports/track and field, church
A list of honours/
awards/recognition student
has received
Please forward all infor-
mation to Yolanda Dele-
veaux, Tribune Features Edi-
tor at email ybdele-
veaux@tribunemedia.net -
please note 'Back To School'
in the subject line. The infor-
mation may also be hand
delivered or mailed to:
Back To School
The Tribune
Shirley and Deveaux
P 0 Box N-3207
Nassau, Bahamas.

6:00 Community page 1540am
1:00 ZNS News Update
1:05 Legends:
2:00 One Cubed
2:30 Turning Point
3:00 Practical Principles
3:30 Ernest Leonard
4:00 Video Gospel
4:30 Fast Forward
5:00 ZNS News Update
5:05 The Fun Farm
6:00 Tourism Today
6:30 News Night 13
7:00 The Bahamas Tonight
8:00 The People Behind The History
of BTC
9:00 Holby City
10:00 Caribbean Newsline
10:30 News Night 13
11:00 The Bahamas Tonight
11:30 Late Night Movie:
"Getting Up And Going Home"
1:30 Community Page 1540AM
NOTE:NS 13reseresth
r Sigttom eltminte
progrmme. hangs!

Tribune Freeport Reporter
Bahama Power Company is
offering a $5,000 reward for
information leading to the
arrest and conviction of the cul-
prit or culprits responsible for
the theft of a large quantity of
copper wiring from various sub-
stations throughout the island.
Company officials say they
are very concerned about the
copper thefts, which have been
occurring since January the
latest occurring last week and
resulting in a loss of $70,000 to
the company.
Derek King, director of trans-
mission and distribution,
revealed that the company has
incurred a total loss of well in
excess of half a million dollars
over the past five months due to
theft and replacement of cop-
per wire.
"We have been dealing with
this since January, and so I
would suggest that the loss of
copper, and the time to put
these things back in place, is
well over $500,000 from January
to now," said Mr King.
During a press conference
held yesterday at the Grand
Bahama Power Company, Mr
King and other company exec-

Inquest into death of Daniel

Smith is rescheduled again

: /" [

* DANIEL Smith


TWO men accused of killing
a man at a service station last
month were arraigned togeth-
er in Magistrate's Court yester-
day on murder charges.
The accused, Frank Smith,
21, of Sunlight Village and
Rashard Woodside, 20, of Plan-
tol Street,' were arraigned
before Magistrate Guillemena
Archer at court 10 in Nassau
Street yesterday.
It is alleged that on Thursday
April 26, the accused intention-
ally and unlawfully caused the
death of Delroy McKenzie.
Police reports said McKen-
zie died after being shot multi-
ple times while sitting in his
vehicle at the Esso Service Sta-
tion on Wulff Road and Mon-
trose Avenue.
The accused, who were rep-
resented by attorney Murrio
Ducille, were not required to
plead to the murder charges and
the matter was adjourned to
September 17.
Smith told the court that he
had suffered brutality at the

utives, including Tony Lopez,
vice president of finance, and
Carlton Bosfield, environmen-
tal safety and security direc-
tor, warned about the dangers
that can result from these
Besides the potential dangers
to the culprits in terms of pros-
ecution, Mr Lopez said copper
theft affects not only the com-
pany, which experiences pow-
er failures and thousands in
costs for replacement and man-
hours to repair and investigate
the damage, but also to cus-
tomers who may sustain losses
and damage to expensive elec-
tronic equipment.
It is believed that the thefts
are being carried out by highly
skilled technical persons with
access to bucket trucks for
access to power cables. The
thefts usually occur during the
wee hours of the morning -
between 2am and 3am.
Mr Lopez believes that the
increase in theft of copper is
probably due to the increase in
the value of copper on the mar-
As of early May 2006,
reports indicate that the non-
ferrous scrape metal price list
is valuing copper between
$2.40 and $3 per pound,
depending on the quality.

THE inquest into Daniel
Smith's death has been delayed
yet again, with proceedings hav-
ing been pushed back another
The new date for the inquest
into the death of the Anna
Nicole's son is now May 30.
The inquest had just begun
last month when it was stalled
after the lawyers for Howard K
Stern called the constitutionali-
ty of the Coroner's Court into
q u e s t i o n . .
The Coroner's Court is now
scheduled to reconvene next
week Wednesday with an all
female, seven-person jury.
Speaking at the start of'the
inquest, Chief Magistrate Roger
Gomez who is presiding of
the proceedings admonished
all jury members not to listen
to the many rumours and the
gossip swirling around this high-

hands of two CDU officers and
requested that he be taken to a
He later told the court that
he had been taken to see a doc-
tor but still suffered head pains.
Magistrate Archer told the
accused that he would be
allowed to see the doctor at Her
Majesty's Prison.
Woodside was also arraigned
on the charge of possession of a
firearm with the intent to
endanger life.
It is alleged that on Tuesday
April 10, 2007 he was found in
possession of a handgun with
the intent to endanger the life of
Jamalio Laing.
Woodside was not required
to plead to the charge. This
matter was also adjourned to
September 17.

0*pcl xe intp


The Bahamas Electricity Cor-
poration in New Providence has
also been experiencing copper
thefts at its facilities.
Mr King said that the power
company in Freeport uses very
expensive copper wiring.
"Our system is what you call
a multi-ground each pole has
a copper wire connected to
what is considered a shield wire
on top that goes straight down
the pole into the ground.
"This reduces the ground lev-
el and gives us added protec-
tion, and once you remove
those from the pole, when there
is a lightning strike basically the
system cannot now handle the
excess voltage and this in turn
will jeopardise our system and
employees, but also customers
in terms of sensitive electronic
equipment," he said.


Mr King is discouraging per-
sons who sell scrap metal for a
living from buying copper from
individuals off the street.
"You can only get copper off
the island by boat and it is my
understanding that these cul-
prits are melting the copper
down and selling it to those per-
sons who are involved in sell-

profile case.
Twenty-year-old Daniel
Smith died in his mother's Doc-
tors Hospital room on Septem-
ber 10 just three days after his
baby sister Dannielynn was
His death was ruled a drug
overdose, but the inquest is
being held to determine
whether or not it was accidental.



ing scrap metal," he said.
Mr Bosfield said the local
police are doing as best they
can, but that a more of concert-
ed effort by the public will help
to assist them in capturing the
individuals responsible.
"This is why we are appealing
now to a much broader com-
munity to be more of the eyes
and ears of the police to help
Mr Bosfield said that there
are certain signs that persons
should take note of. He noted
that when copper is melted
down, the plastic coating over
the wire emits black smoke.
"In some instances you may
see large black smoke coming
from very remote areas. There
are also instances where the
culprit will cut the large cables

up in sections so they can lay
them on the back of a pick-up
truck, So, if you see a lot of
black cables on a pick up truck,
or any cable, that should be
another cue that this could
possibly be a culprit," he
"We are also very concerned
about the potential for the copy-
cat criminal. Like we said earli-
er, the persons who are doing
these thefts presently have the
knowledge. However, if there
is someone who tries to copycat
and they don't have the electri-
cal knowledge it could result in
death," he said.
Members of the public are
asked to assist in the capture of
the culprits by calling 352-8411,
or the police at 351-3109, with
any information they may have.

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PAGE 6. TUESDAY, MAY 22, 2007



393-6112 or 556-3308

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of Queen's Cove,
Freeport and formerly of Baha a
Man-0-War Cay, Abaco,
who died at the Rand ji
Memorial Hospital, on 1. 4
Thursday, May 10, 2007, "
will be held on
Wednesday, May 16
2007 at 11:00 a.m. at The
Chapel of Yager Funeral
Home and Crematorium,
Queen's Highway, Freeport. Officiating will be
Pastor Lucien Curry and interment will be made
in The Grand Bahama Memorial Park.

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

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

Police officers are sworn in

More than one
hundred police
reserve officers
from Nassau and '
the Out Islands
were sworn in
yesterday at a
ceremony held
at the police

Tim Clarke/
Tribune staff)
SI M~ I" U RESERVE officers are sworn in

SOFFICERS help the reserves as they sign documents

Protesters decry Venezuela's refusal to renew

the licence of opposition-sided TV station

THOUSANDS of protester's
carried a blocks-long banner
through Venezuela's capital on
Monday, condemning threats
to freedom of expression as one
of the country's few remaining
opposition-aligned TV stations
is set to go off the air within
days, according to Associated
Shouting "We Want Free-
dom!" and waving Venezuelan
flags, demonstrators warned
that President Hugo Chavez's

plan to replace Radio Caracas
Television with a public-ser-
vice station is part of a broad
effort to silence criticism. The
banner that snaked through the
streets read "Freedom of
Expression, SOS" in 10 differ-
ent languages.
"Threats to freedom of
expression affect all citizens
equally; it doesn't matter if
you are pro-government or
against the government," said
Rafael Fuenmayor, a reporter
from the Globovision 24-hour
news channel, who helped
organise the protest along with

other local journalists.
Globovision is the only other
major opposition-aligned chan-
nel, though it does not reach all
parts of the country. Two other
channels that used to be
staunchly anti-Chavez recently
toned down their coverage.
RCTV is due to go off the air
Monday, after Sunday's final
day of programming, when the
.government says its license
' Officials deny any threat to
media freedom, arguing that a
new station called TVES will
offer diverse programming

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while avoiding pro-Chavez pro-
paganda aired on other state-
run channels. A board of direc-
tors for the new channel was
-sworn in Monday.
Protesters ended their march
outside the mission of the Orga-
nization of American States,
where they urged the body to
take a closer look at the state of
press freedoms under Chavez.
OAS Secretary-General Jose
Miguel Insulza has warned that
failing to allow RCTV to con-
tinue broadcasting "would be
seen as a form of censorship
against freedom of expression."
Countries including Honduras,
Guatemala and Chile have
expressed support for Insulza's
Founded in 1953, RCTV is
Venezuela's oldest private net-
work and broadcasts a mix of
talk shows, soap operas and a
version of "Who Wants to Be a
Millionaire?" RCTV frequent-
ly airs complaints of corruption,
crime and inefficiency from
both opposition and govern-
ment supporters, whose griev-
ances are rarely broadcast on
state-run TV channels.
RCTV's general manager,
Marcel Granier, said the net-
work has the right to continue
broadcasting until 2022 and
challenged the government's
decision in court.
Venezuela's Supreme Court
on Thursday dismissed the first
of a series of legal challenges
by RCTV, but more are pend-
Information Minister Willian
Lara said the state's right not
to renew RCTV's license was
"inarguable," and predicted on
Sunday that Venezuela's high-
esl court would uphold the mea-
Chavez accuses RCTV and
other opposition-aligned private
media of supporting a failed
2(X)2 coup against hint by broad-
casting cartoons and movies
rather than covering street
protests that aided his return to
power. R(CTV's journalists
counter that violent protests
staged by "Chavistas" outside
the channel's headquarters pre-
vented them from reporting the
Venezuela still has a broad
mix of newspapers, including
many that are critical of the


Lyford Cay scholar

returns to help build

national university

WHEN Lyford Cay scholar- Hodder calls Humblestone "a cation. Fundraising for the col- cation i the region, providing
ship recipient Felicity Humble- key to a central function that lege fulfills my interest and zeal academic scholarships at the" :Ep /
stone graduated with honours will transform the college to a for education. It is so reward- undergraduate and graduate
from McMaster University in university," crediting Humble- ing.' level as well as grants for tech- W
Ontario, the College of the stone with the ability to build Humblestone is so high-ener- nical and vocational training.
Bahamas was operating with a valuable, supportive relation- gy that colleagues tease her and Over the past two decades,
relatively small budget from ships with friends and donors, call her the Eveready Energizer the foundations have awarded
government. "She's extraordinary, a very Bunny. Her drive, she says, is over $14.5 million in scholar- "'
At the time, the college's gifted young woman with inspired not only by what she ships, helping some 1,300 stu-
bachelor programme offerings exceptional personal integrity, a is doing but by what she saw dents better prepare for a pro-
were limited, and turning the fund-raiser's dream." the Lyford Cay foundation do fession or career. In all, 835 stu-
Oakes Field campus into the If Hodder thinks Humble- for others. dents have studied at the col-
headquarters of a national uni- stone is a fund-raiser's dream, "I received a Canadian lege with scholarships the foun-
versity was still more fantasy Humblestone thinks the job is a Lyford Cay Foundation schol- dation helped to fund.
than dream. dream. arship to attend McMaster Uni- Although best known for its
Today, that dream is becom- "It is wonderful to be home versity in Hamilton, Ontario education largesse, the Lyford
ing reality the college on its and to participate in the build- and graduated in 2003," she Cay Foundation has a separate
way to becoming the University ing of a national university for said. "Since then, having arm that supports worthwhile
of the Bahamas and Humble- the Bahamas," says Humble- worked in the non-profit indus- local charitable causes and 0 FELICITY Humblestone
stone is one of the key driving stone, who spent three years at try for almost four years, 1 organizations, and a volunteer
forces. McMaster after graduating, as gained a real appreciation for mobilisation programme Time-
Appointed development offi- an assistant in advancement ser- the work of the foundations and Works that provides additional sible for the deserving," said such as the University of the
cer in the Office of the Presi- vices and then as a development their philanthropic commitment 'people power', interacting with Loretta Rogers, president of the Bahamas, as it will one day soon
dent just over six months ago, researcher, before bringing to the development of the coun- beneficiaries in a way that Canadian Lyford Cay Founda- be called, will attract students
she has taken charge of private those skills home. try and the people of the makes a long-term difference tion. "Felicity's story is espe- from all over and fulfill a need
fund-raising with gusto, cor- With a bachelor's degree in Bahamas." in lives. cially inspiring because she will for an institution of higher edu-
ralling dollars and support to Spanish and linguistics and a The Lyford Cay Foundation "Successful graduates like make such a difference at the cation for many who wish to
build the college's forward minor in globalisation, she had and the Canadian Lyford Cay Felicity Humblestone re-affirm local level, study at home. The Canadian
momentum. originally thought about teach- Foundations are the largest pri- the foundation's commitment "An ambitious goal with Lyford Cay Foundation is very
College president Janyne ing. "I am passionate about edu- vate supporters of higher edu- to make higher education pos- almost incalculable potential proud of Felicity."

Organisers of Just Rush

parade make preparations

for safety of Freeport event

WITH just two weeks to go
before the big Just Rush Labour
Day weekend, organizers are
making every effort to make it
is a safe event.
According to Peter Adder-
ley, president of Creative
Works and mastermind of the
event: "Thousands are expected

to travel here from New Provi-
dence, throughout our family
of islands and the United States,
so it was very important to work
with the Royal Bahamas Police
The largest inter-island
junkanoo parade will be on on
Friday, June 1, 6.30pm, down-

town Freeport. The Beres Ham-
mond Concert is set for Satur-
day, June 2, 9pm at Columbus
Theatre Parking Lot, Freeport.
Adderley, is seen at Grand
Bahama's Police Headquarters
meeting with top 'brass 6f the
police force.and parade iman-

Paramilitary leader denies role in killings

A FORMER paramilitary
leader wanted in Haiti on mur-
der and torture charges insisted
in a New York court Monday
that he has become a scapegoat
for atrocities in the Caribbean
nation that had nothing to do
with him, according to Associ-
ated Press.
"Your honour, I've never
ordered ... any violence,"
Emmanuel "Toto" Constant
said in an emotional plea to a
judge overseeing his mortgage
fraud case in state Supreme
Court in Brooklyn. "I've never

even assisted in anyone's exe-
cution in my life."
Constant, 50, repeated claims
that he had worked with the
CIA while head of a Haitian
paramilitary group in the 1990s.
He also said he was "promoting
reconciliation" at the time, and
since has become a victim of
political persecution.
Last week, lawyers for the
state attorney general's office
and the federal Department of
Homeland Security urged Jus-
tice Abraham Gerges to sen-
tence Constant in the fraud case
to time served, about 10 months
of a proposed one- to three-year

sentence, to speed his deporta-
tion to Haiti to face charges
there that he ordered the exe-
cution of slum-dwellers loyal to
exiled President Jean-Bertrand
Gerges postponed the sen-
tencing after the Center for
Constitutional Rights claimed
th t Haiti's justice system was
too unstable to ensure Constant
faces justice. The civil rights
group argued the proposed sen-
tence in the fraud case was too
lenient, given Constant's back-
The judge said he would rule
on Tuesday.

2007 8


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one is undoubtedly different.

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Power Windows and Locks
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Air Conditioning
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The Bahamas Telecommunications Company Ltd is pleased to invite qualified
companies to submit for tender for Fire Extinguisher Maintenance.

Interested companies can pick up a specification document from BTC's
Administration Building John F. Kennedy Drive May 22nd to May 31st 2007
between the hours of 9:00am to 5:00pm Monday to Friday.

Tender should be sealed in an envelope marked
"FIRE EXTINGUISHER TENDER" and delivered to the attention of: -

Mr. Leon Williams
President & CEO
The Bahamas Telecommunications Company Ltd
P.O. Box N-3048
Nassau, Bahamas

Bids should reach the company's administration office on John F. Kennedy
Drive by 4:00 p.m. Monday June, 4th 2007.

Companies submitting bids are invited to attend the bid opening on Wednes-
day, June 5th 2007 at 10:00 A.M. at BTC's Perpall Tract location.

BTC reserves the right to reject any or all tenders.

I rP' I I _

TUESDAY, MAY 22, 2007, PAGE 7


Girl Guides honoured in student awards

, THE Bahamas Girl Guides Association
has,announced that 25 guides were among
the 103 students who were nominated to
represent their schools in the 11th Annu-
al Bahamas Primary School Student of
the Year Awards Programme.
The eveht was held on Saturday at
Bhamas Faith Ministries International.
The Bahamas Primary School Student
of the Year Awards competition, which
whs established in 1997, is sponsored by
'the Bahamas Primary School Student of
the Year Foundation in partnership with
the Nassau, Bahamas PanHellenic Coun-
cil, and the local coalition of fraternities
and sororities.

Ashley Burrows
B Ashley Burrows

* Takera Capron

25 girls prove their

abilities for youth

The awards programme honours those
students who are academically gifted, have
displayed leadership abilities and are well-
rounded students.
The Girl Guide nominees are pictured

* Devynne Charlton

* Jo'eysa Abraham U Michaelianna Adderley

E Jasmine Colebrooke

* Lyric Anderson

Jasmine Cunningham

N Demi Burrows

N Maya Delaney

SShenecia Garcias
. j

i Ltra Hnn
Latara Hanna

* Trenique Kelly

* Zahra Powell

* Camille Pratt

E'Tabitha Ritchie

* Alicia Storr

* Tiffany Strachan

* Telicia Thomas

N Spring Williams

* Camille Wright

TENDER NO. 638/07

The Bahamas Electricity Corporation invites tenders from
eligible bidders for the construction of
lt.'o (121ransformer foundations at
Rock Sound Powerf Station in Eleuthera. Bahamas
Bidders are required Ic collect packages from
Mrs Delmeta Seymour
at the Administration Office
Blue Hill and Tucler Road
BEG C Office
Rock Sound. Eleuthera
Tenders are to be hand delivered on or before
Wednesday, May 30th by 4pm
arid addressed as follows.
The General Manager
Bahamas Electricity Corporation
P 0 Bo- N-7509
Nassau Bariarnias

Marked: Tender No. 638/07
"Construction of Two (2)
For all inquires reqjrdinij hi:_ Tender.
contact Melpert Cean .at 302-1413

MAY 25, 2007.

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Agent of the Month March 2007

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PAGE 8, TUESDAY, MAY 22, 2007

.. ...




TUESDAY, MAY 22, 2007, PAGE9


Contesting seats may cost PLP up to $ lm

FROM page one underwrite, advised by our legal team as to respectively.
After the 2002 general elec- which seats represent the best "The Progressive Liberal Par-
Despite the expectations of tions the FNM contested the chances of winning and we will ty is of the view that there were
several senior PLPs. the FNM results coming out of the pursue those ones vigorously persons who were not allowed to
may not contest anv seats in MICAL constituency, a process through the courts," he said. vote in certain areas and per-
court. that cost the party more than The party has 21 days from sons who voted in areas that
In fact. Prime Minster Hubert $200,000. the opening of the House of they should not have. So based
Ingraham has said that the FNM If this price tag is applicable Assembly on Wednesday to on the information we have, we
has no intention of going to elec- for election court 2007, and the apply for leave to present their believe that there is a reason-
tion court to "determine the PLP loses its cases, the party cases to the court. ably high chance of success," Mr
validity of any of our seats or could spend nearly $1 million. Mr Grimes told The Tribune Grimes said.
anybody else's." Over the weekend former yesterday that the PLP may con- FNMs have also accused the
In addition to the implications Prime Minister Perry Christie test as many as five seats: PLP of wrong doing in the last
this process has for the outcome said that the PLP has decided Pinewood, Blue Hills, Golden election. Allegations against the
of the 2007 elections, it is a which constituencies it will con- Isles, Sea Breeze and Marco PLP included using fake ballots
heavy financial cost. test and will soon be pursuing City. and adding illegitimate ballots
The losing party will be oblig- those seats "vigorously" in the Each of these seats, Mr to the count of some con-
ated by law to pay the winner election court. Grimes pointed out, was lost by stituencies.
$100,000 for each case it fails to "The outcome of those seats the PLP by less than 70 votes Mr Ingraham has said that if it
secure, are matters which will be before and thus are considered "too is determined that offences were
In addition to this $100,000 the courts soon, so we would not close for comfort" for the PLP. committed during the run up to
there are other expenses that be wise to discuss our strategy The PLP lost these seats by the elections he expects the
the FNM and PLP will'have to here. However, we have been 64, 47, 62, 64 and 47 votes authorities to "do their job".

PLP 'Thank You' rally is postponed to Saturday

FROM page one
continue to plan on holding the
event on Saturday allowing
them time to advertise and pro-
mote the event properly.
The PLP has continued to gath-
er public support following the

May 2 general election, Mr Gala-
nis said, and this is fortified by the
actions of the new government.
"Already we have seen indi-
cations of victimisation by the
government," Mr Galanis said.
"Mr Steve McKinney; Ingra-
ham's announcement that cer-

tain permanent secretaries would
be reduced at his thank you ral-
ly a few weeks ago: a number of
PLPs have been notified that
their contracts would not be
renewed when they expire; and
Mr Ingraham's intransigence
regarding the Senate appoint-

ments pursuing to Article 39 of
the Constitution," Mr Galanis
said, are all examples that the
"old Ingraham" has returned.
"Bahamians are beginning to
see that this is the same old
Ingraham and that nothing has
changed," he said.

PLP 'may make legal challenge' over seats in Senate

FROM page one
Overall, the Senate consists
of 16 members of which, nine
are automatically appointed by
the prime minister; four auto-
matically by the leader of the
opposition: and the remaining
three are appointed by the
prime minister after consulta-
tion with the leader of the


FROM pag
ocean for hundreds
the Clifton Pier are
The surface of the
dreds of feet out fro
where the BEC plain
was covered in a
which caused it t(
shiny appearance,
hundreds of feet ab
Meanwhile, at
extreme, the slick w
by a thick gooey br
The spill was bro
attention of The 7
week by a concern

Regarding the three remain-
ing senators, The Constitution
states: "In the exercise of the
functions conferred upon him
by article 39(4) of this constitu-
tion, the purpose of the prime
minister shall be to secure that
the political balance of the Sen-
ate reflects that of the House of
Assembly at the time."
With the House being closely
split at 23 to 18 in favour of the

FNM, with the PLP winning 47
per cent of the popular vote, a 9
to 7 divide in the Senate, too in
favour of the FNM, would
reflect the divide in the House.
In a brief statement on Sun-
day Mr Christie merely stated
that "consultations between the
prime minister and the leader
of the opposition are under-
way in connection with the
appointment of additional Sen-

ators under article 39 (4) of the
A legal challenge over these
senate appointments, could
create a further spectacle sur-
rounding the election results,
as the PLP has announced that
they will contest five FNM
seats in election court these
being, Seabreeze, Marco City,
Pinewood, Blue Hills and
Golden Isles.

start investigation into oil

ge one According to Port Controller situation is a long-standing one help in terms o
Anthony Allen, companies are and I guess everyone always of spills that
of feet along required to clean up the effects jumps to blame BEC first, I and making su
*a. of such incidents if they are guess because we're the person done to preve
e water, hun- found to have been responsible. upfront," he said. Mrs Dunc
)m the coast, This can involve using equip- Sam Duncombe, an environ- that the Bah
nt is located, ment to surround and contain mentalist, and founder of organ- industry which
layer of oil the spill, and then to "mop it up" isation reEarth, yesterday said such incident
o take on a. from the surface of the water, the spill further proves her case a world-reno
visible from However, with an investiga- that an LNG plant should not pany is ox
'ove. tion only now underway, any be brought to the Bahamas. located "out
its farthest clean up operation has been fur- "If we can't handle what's Meanwhile
'as bordered their delayed or perhaps ren- going on at Clifton how can we whose depa
own edge. dered unlikely to ever happen. possibly monitor what's going made aware
)ught to the "There was no way of con- on at Ocean Cay with LNG?" week, said he
Tribune last firming where it came from," she asked., dence of the
d local pilot, said Mr Forbes yesterday. "The "The place is in dire need of gone by now.

)f stopping the kinds
are happening now
ire that everything is
:nt (future spills)."
ombe pointed out
amas has a diving
ch is threatened by
s. Stuart's Cove -
wned diving com-
ne of those that is
west" near the pier.
e, Captain Allen,
rtment was also
of the slick last
e believes the evi-
spill may even be

'$80m of contracts' revealed

FROM page one said.
Aside from concerns relating
Mr Ferguson said that in light to financial viability, the gov-
of the contracts awarded prior ernment is also looking into the
to the election the PLP had former government's decision'to
become a "run-away train." grant a contract for a sch6'ol
In response, the FNM is com- between Cowpen road andMylar-
mitted to "proceed systemati- shall road in an area that 'used
cally in the days months years to be a car dump for years" with-
ahead to bring this country back out undertaking an assessment
under subjection" by reviewing of the possible health implica-
the contracts awarded under the tions.
former government, said Fergu- As to exactly how many Cn-
son. tracts are under review, Mr 1Fr-
This is particularly important guson could not be specific. but
because in some cases the gov- he added that the decision as to
ernment simply does not have which will be cancelledaind
the money, nor does the country which will be continued is some-
have the man-power "to super- thing that will emerge once, We
vise and to properly man those process is complete.
projects to successful conclu- However, he emphasised that
sion." the straw market is still a pro-
"So apart from funding it's a ject which is a priority for the
question of how we're going to government.
manage at this time," he "The way I see it before the
explained, next election the straw market
Listing some of those con- will be well on its way or comn-
tracts which made up the $80 pleted," he said.
million total cost, Mr Ferguson Asked whether the review
pointed to a $5 million contract would also encompass the archi-
for anew school in Inagua, $3.2 tectural plans made for the pro-
million in Lowe Sound Andros, ject, Mr Ferguson said "you may
two schools in New Providence not see any changes to that." ,
and one in Grand Bahama con- The process of going over the
tracted out for over $30 million, contracts will be done bothat
Road contracts totalling $25 Cabinet and ministerial lev.CJ,Je
million were also awarded, he stated.

Christie 'led way on race'

FROM page one
Previously, his party had been
accused by the FNM, and some
members of the public, of bring-
ing the issue of race into the elec-
tion in a way that divided society.
Some commentators speculat-
ed that some PLP candidates
were seeking to gain voter sup-
port by instilling anxiety in the
general population by making
references to the fact that FNM
deputy leader, and now deputy
prime minister, Brent Symon-
ette, is the son of former UBP
premier Roland Symonette.
Fred Mitchell, former foreign
affairs minister, warned voters
not to support "the UBP heir."
Yesterday, Mr Ferguson said
that Christie is trying to "back
peddle" from the much-dis-
cussed "race card" strategy.
"It was very clear that they
went that route," he said. "It
came from him and it came from
most of his other spokespersons
that he has around him," said
Mr Ferguson.
"As a prime minister he led

the way in trying to separate
people along colour lines and he
can't hide from that now."
During the chat, Mr Christie
claimed that the FNM had
accused his party of "playing the
race card" when they con-
demned Brent Symonette so as
to deflect their criticisms.
"I was specific in my explana-
tion to the Bahamian public that
my criticism of Mr Symon-te
had absolutely nothing tio"o
with the colour of his skin but
with the ethical lapse he-rad
made during his time in Gov-
ernment," the former prime min-
ister said.
Yesterday, Mr Symonette said
he did not want to "revisit".the
race card issue. ;. '
"If Mr Christie and his goy--4-
ment want to reflect on the g-
takes that they made they are fee
to do. As far as I'm concerned
and my colleagues are concer!I
we are about doing the people
business of governing the coni-
monwealth of the Bahamas ano
need not revisit those issues-te
move forward," he said.

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.. .. . .. . .. . .. .. . .. . .. . .. . .. .. . .. . .. . .. .. . .. . .. . .. . .. .. . .. . .. . .. .. . .. . .. . .. . .. .. . .. . .. . .. .. . .. . .. . .. . .. .. . .. . .. . .. .

PAGE 10, TUESDAY, MAY 22, 2007


MAY 22, 2007

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

Great Romances Nova "The Great Robot Race' The Human Face Theory suggests Frontline A Hidden Life" (PA)
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LIFE "Still Decorating" ture Tells a Story" Jean lands in Settle, Scott Bakula. A pyromaniac stalker threatens an arson investigator.
n (CC) n (CC) "mall jail." (CC) (CC)
M C :00 Hardball Countdown With Keith Olber- Scarborough Country To Catch an ID Thief
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NTV lot" n (CC) nale) (N) n (CC) (CC)
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der sion cle TV Files
Jordan Rubin Behind the Joyce Meyer: John Hagee To- Bill Gaither (CC) Praise the Lord (CC)
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day Life (CC)
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nary Friends near's a Monkey Cowardly Dog (CC)
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TWC Storm Stories Abrams & Bettes Weather: Evening Edition (CC)
:00) Duelo de La Fea Mds Bella Lety es una ni ia Destilando Amor (N) Nuestra Belleza Latina "La Gran
UN IV Pasiones dulce, rom.ntica e inteligente, pero Final" La ganadora es revelado.
apenas atractiva. (N)
(:00) Law & Or- Law & Order: Special Victims Unit * KISS THE GIRLS (1997, Suspense) Morgan Freeman, Ashley Judd,
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u 1 (:00) The 40 Hottest Rock Star Girlfriends... and Maxim Hot 100 C Flavor of Love Girls: Charm
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(:15) *' JUST MY LUCK (2006, Romance-Comedy) *** ETERNAL SUNSHINE OF THE SPOTLESS MIND (2004, Ro-
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fortune. n 'PG-13' (CC) the memories of their relationship. n 'R' (CC)
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MOMAX Jimmy Jean-Louis, Godfrey. Two large women look for Ving Rhames. A woman tries to thwart a burglar on Dec. 31, 1999. Cn
love. C 'PG-13' (CC) 'PG-13' (CC)
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A 'cHpp Hoirt i' lcDo1Sld s i
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EnjoF Great Food, Prizes and Lots of Fun.

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Sir ack Hayward gives away his

stake in soccer club for just $20

SIR Jack Hayward, the
Freeport-based tycoon, has sold
all his shares in his lifelong pas-
sion for just $20 so long as the
buyer puts his money where his
mouth is.
Sir Jack sold his controlling
stake in Wolves, the English
soccer club, to multi-millionaire
Steve Morgan on condition that
the new owner invests $60 mil-
lion in its future.
Morgan bought all Sir Jack's
shares for just 10, roughly $20,
after his bid to buy Liverpool
FC fell through.
For Sir Jack, one of the king-
pins behind the development of
Grand Bahama, Wolves were a
lifelorig passion.
But during his long financial
involvement with the club, he
was never able to restore its for-
mer glory.
Now it's hoped Morgan's
deep pockets, and keen inter-
est in Wolves' fortunes, will help
propel the Midlands side back
in(o the big time.
In the 1950s, Wolves were
one of England's top sides,
but the club has floundered
over much of the last half-cen-
However, a club statement
said: "Morgan not only has the
best interests of the club at
heart, but has the resources to
return the club to its former
Morgan made his fortune
from the development firm
Redrow. He is now chairman
of the Bridgemere Group.
He is a keen soccer sup-
porter who twice tried to buy
Liverpool, his hometown club,
but "lost patience" with the
Anfield board when he -said
the club needed to be frank
about the cost of its new sta-
Wolves said Sir Jack's deci-
sion was in line with his promise
to step aside for the right per-
He had taken the "unprece-
dented step" of giving his shares
to Morgan for a nominal 10 in
return for a 30 million (rough-

ly $60 million) investment.
"All of the 30 million will be used
for the benefit of Wolves. Sir Jack is
making this gift for the benefit of the
club and in order to secure the future
of the club on a long-term basis," said
the club.
"It is intended that the new capital,
over a period of time, will be used to
help re-establish Wolves as a Premier-
ship club."
To maintain stability, Morgan has decid-
ed to retain Wolves' current manager Mick
McCarthy and chief executive Jez Mox-
Sir Jack remains life president with his
grandson Rupert joining the board. The
deal is expected to be completed next

O Iffirsay 31, 2B^B

* SIR Jack Hayward U STEVE Morgan
I-- .gg (Photo: AP/Jon Super)

* WOLVES midfielder Karl Henry, right, battles for the ball with West Bromwich Albion's
Robert Koren, during their Fourth Round FA Cup on Sunday, January 28,2007
(Photo: AP/Simon Dawson)




1. Bahamas First's 25th Anniversary Calendar Photo Contest is open to all
photographers and has the title "The Bahamas at Play". Photographs may be of
any subject or scene that illustrates the theme. All photographs must be taken in
The Bahamas.
2. Deadline for entries is June 22, 2007
3. All entries are to be delivered to Bahamas First General Insurance's office,
#32 Collins Avenue, Nassau, N.P. between 9 am and 5 pm, weekdays only
Envelopes should be marked "Calendar Contest".
4. All entries must be accompanied by an official entry form available at Bahamas First
offices or when published in newspapers.
5. Only colour images in horizontal format will be considered. Images must be provided as
digital images on CD. Digital images must be of high quality (2700 x 2100 pixels or larger).
Digital images showing any signs of photo manipulation, resolution enhancement or
compression will be rejected. To ensure the best colour reproduction, digital images
should be supplied in RAW, TIFF or high quality JPEG and in the original colour format the
camera uses (LAB or RGB). All entries must be supplied with prints which will be used in
the judging process. The photographer's name and photo subject should be written on
the CD and on the reverse of the print.
6. Judging of entries will be based on creativity, imagery, composition, colour, originality
and quality of photograph. The photos selected will appear in Bahamas First's 25th
Anniversary 2008 calendar. The decision of the judges will be final,
7. All entries are submitted at the owner's risk. It is the company's intention to return all
entries in their original condition. However, Bahamas First will assume no liability for any
loss, damage or deterioration.
8. A gift certificate valued at $500 will be presented for each of the photographs selected.
More than one entry from a single photographer may be selected. Photographic credits
will be given in the calendar. The number of entries per photographer is limited to a
maximum of five photos.

9. The winning photographs, along ication and4
reproduction rights attached other e the property o
Bahamas First and the company r es therigjt to use suchN rlM-
the future. .
10, Employees of Bahamas First, its companies or
members are not eligible.

Tel: Business Home
P.O. Box Street address__________
Date No. of photos entered (maxiim of 5)
I agree that in the event one or more of my ph 17*s is selected as
a winner in the 2008 Bahamas First 25th Anniversary Calendar Photo
Contest it will become the property of Bahamas First General Insurance
Company and I assign to Bahamas First all rights pertaining to its use in
any way whatsoever. I also confirm that the photos entered in this
contest were taken in The Bahamas by the undersigned and have not
been previously published.

Return with photos to:
25th Anniversary Calendar Contest
Bahamas First
P.O. Box 6238
32 Collins Avenue
Nassau, N.P.
Entry deadline June 22, 2007


SLw St. 3846.S64 w Th-tw B 28.M164

At any on moment we havea-
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From M ia, May 81,200? FroinMdar, AJy 21, 2007

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Tel: 242.325.6848



~---~-- Cq

TUESDAY, MAY 22, 2007, PAGE 11





PAGE 12. TUESDAY. MAY 22, 2007





n nk =.7t4

BTC encourages the public to

Give The Gift That Keeps On Giving

On Saturday May 12, 2007, the
Mall at Marathon Centre Court
was inundated by an anxious
crov.d who were more than
willing to give a gift that keeps on
giving. Members of the public
stood in Bine and waited patiently
to donate blood to the Blood
Bank of PMH. To show
appreciation for those braving the
needle, BTC offered opportunities
for blood donators to win prizes
from the BTC grab bags. BTC's
grab bags were filled with airtime
vouchers, phones in the box,
Gold Razrs and cellular phone
acc-essories. According to Carolyn

Azikiwe, Supervisor PMH Blood
Bank, this was the best initiative
ever by a business organization,
as the response was over-
whelming. Although, the blood
drive only lasted seven hours One
Hundred and Sixteen units of
blood was collected. This
amount was only a few units shy
of the amount collected during
the two-day blood drive for the
Sea Hauler tragedy. Mrs. Azikiwe
further stated that the blood bank
at PMH had been at its lowest
levels for the past few weeks and
had been completed depleted due
to an emergency two days prior.

After resting it was confirmed
that out of the One Hundred and
Sixteen units collected Sixty Eight
units were 0 positive. This
means that these units can be used
to assists patients of all blood
types. In addition to the blood
drive staff members from PMH
also performed complementary
blood pressure, glucose and
cholesterol testing. On behalf of
the Board of Director, Executive
Manage-ment and staff of BTC
the staff and patients of PMH we
thank the public for their support
and their awareness of the
importance of giving blood.

"C ,225-5282 *
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TUESDAv MAi'22.2007


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Miami Herald Business, Stocks, Analysis, Wall Street


Farm's closure to

cost $2m revenues

New Providence-based Sunshine Farms' end-June closure to

cost 18 jobs, and impact Bahamas' ability to be self-sufficient

Tribune Business Editor
A New Providence-based
poultry farm is set to close
at the end of June with the
loss of 18 jobs and $2 mil-
lion in per annum rev-
enues, dealing a further bl6w to Bahamian
self-sufficiency in food production and busi-
ness ownership.
Chris Lowe, of Sunshine Farms, con-

firmed that the business which was set up in
1954 some 52-and-a-half years ago was
due to cease production and close down
at the end of next month.
When asked why, he said: "It's mainly to
do with...... just everything. It's a shame
that a business that has been around for 52-
and-a-half years is going to close its doors,
but no one in the Bahamas cares about
"I'm in the process of selling-off the old
birds now, and by the end of June we

should be all said and done."
A major factor behind Sunshine Farms'
closure has been the flood of imported
eggs into the Bahamian market, with other
poultry farmers alleging that some food
stores preferred to stock on their shelves
the foreign eggs because, as imports, they
were able to get around price controls. In
turn, they could be sold to consumers at

SEE page 7

- -- -= I I- 0

Fidelity creates

private equity

fund vehicle

Tribune Business Editor

FIDELITY Merchant Bank
& Trust has created a private
equity vehicle to invest in com-
pany buyouts and turnarounds,
with capital markets players
yesterday telling The Tribune
they saw "good opportunities"
for such funds to participate in
such deals given the succession
issues facing many family-
owned Bahamian companies.
Michael Anderson, president
of Fidelity Merchant Bank &
Trust, which will be renamed
Royal Fidelity once regulators
approve the purchase of a 50
per cent stake by Royal Bank
of Canada, explained that the
institution had set-up Fidelity

Analysts spot 'good
opportunities' for such
funds in Bahamian
buyout market

Private Equity Investments Ltd
last year "as an investment
company underlying the mer-
chant bank".
Mr Anderson said the first
acquisition it had participated
in was the $54 million purchase
of Winn-Dixie's 78 per cent
majority stake in Bahamas
Fidelity Private Equity
Investments Ltd would contin-

SEE page 2

Multi-million investments depend on port decision

Tribune Business Editor
TWO multi-million dollar
investment projects are depen-
dent on the relocation of down-
town Nassau's shipping facili-
ties to the' proposed port at
Clifton, and subsequent reloca-
tion of the South-West Road
that services it, meaning the
impact from any decision the
new FNM government takes on
theproject extends far beyond
the downtown revitalisation ini-
A key component of the
Christie administration's port
relocation plan was to re-route
the South West Road, which
currently takes it. through the
middle of both the still-closed
South Ocean Golf & Beach
Resort and proposed $1.4 bil-
lion Albany project, to a new
route through the centre of New
This would ultimately link
Gladstone Road to the PLP
administration's proposed new
port, which was to be situated


between Commonwealth Brew-
ery and the Bahamas Electrici-
ty Corporation (BEC) power
plant at Clifton.
It would also take the South-
West Road around the pro-
posed Albany and South Ocean
projects, making them viable.
Without the road re-routing,
both projects would have to
contend with heavy freight traf-
fic lumbering through their sites
as it made its way to the BEC

power plant and brewery, some-
thing that would render both
developments as 'non-starters'.
It is understood that both the
Albany and South Ocean
investors have- agreed to finance
construction of the new road,
but the final decision on
whether to proceed lies with the
FNM administration under
Prime Minister Hubert Ingra-
The new government will also
have the task of deciding
whether to close on the com-
pulsory acquisition of land that
is needed for the new port road,
the process of purchasing these
properties having begun under
the former PLP administration.
Prior to the May 2 general
election, the then-government
announced that, via compulsory
acquisition, it had taken pos-
session of land in New Provi-
dence for the new port road.
The Prime Minister's office
issued a government notice on
March 16, 2007, that the land
had been appropriated by the
Minister responsible for the

acquisition and disposition of
Lands (the Prime Minister) for
"the public purpose, namely
construction, of public roads
and for uses related thereto".
In the notice, the Office of
the Prime Minister said that
possession of the land should
be obtained before payment is
made to the rightful claimants.
According to the notice, the
Government was looking to
acquire 14 plots of land near
the BEC Power Line Reserve
and its surrounding areas for
the new port road.
However, The Tribune under-
stands that the Government has
yet to compensate landowners
whose land is being acquired,
leaving the FNM to deal with
this issue.
Prime Minister Hubert Ingra-
ham, after first appearing to
state that the Clifton port plan
had "gone with the previous
administration", then left the
door open to it in a subsequent

SEE page 6

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* Damianos



t 242.322.2305

f 242.322.2033

'No injunction appeal'

over Guana Cay

Tribune Business Editor
OPPONENTS of the $175
million Baker's Bay Golf &
Ocean Club will not appeal the
Court of Appeal's decision to
decline their request for an
injunction forcing the develop-
ers to stop work, their attorney
told The Tribune yesterday,
while the court considers its
judgement on the substantive
merits of their case.
Fred Smith, who represents
the Save Guana Cay Reef Asso-
ciation, said the lobby group
would not appeal the injunction
issue to the Privy Council, due
to both the drain on financial
resources this would cause and
the fact that the Court of
Appeal rendered judgements
relatively quickly.
"At this time, there is no
intention to appeal the refusal
to grant the injunction," Mr
Smith said. "Obviously. the
Save Guana Cay Reef Associa-
tion is very disappointed that
we did not get the injunction,
[but] the reality is that the Court
of Appeal is very prompt in
delivering its judgements, ad the
resources of the the Associa-
tion are limited.
"Although they are passion-
ate about protecting the envi-
ronment, we can only do so
much at any one time."
The refusal to grant the
injunction means that the Bak-
er's Bay developers, San Fran-
cisco-based Discovery Land
Company, are free to proceed
with work on their project,
which includes a boutique hotel,
some 400 residential properties,
180-slip marina, golf course and
community village, at least until

the Court of Appeal rules on
the merits of the Association's
Whatever the outcome, it
appears that the case is destined
for the Privy Council.
Mr Smith said that if the
Association sought to appeal
the injunction decision now, it
would have to go back to the
Court of Appeal to apply for
leave to go to the Privy Council.
If this was granted, they would
then have to file an appeal, set-
tle the record and lodge all rel-
evant documents with the court
in London.
Apart from the expense
incurred in doing this, Mr Smith
added that any appeal could not
be an ex-parte hearing, with just
the Association present. The
respondents in the case, Dis-
covery Land Company and the
Government, would also have
to be represented.
And by the time all this hap-
pened, Mr Smith said it was
quite possible that the Court of
Appeal would have given its
decision on the merits of the
The Association's attorney
added that should the courts
ultimately decide in its favour,
the Government and Discovery
Land Company would put
everything back as it had previ-
ously been.
"It is not the best outcome
for Guana Cay; we would have
preferred to get the injunc-
tion.......," M r Smith said........
"We are forging on by the skin
of our teeth, and god-willing we
will have our day in court. We
look forward to the Court of

SEE page 7

l i', F ri'da r'%_, ... .
Real Estate Agent


Fidelity MoneyBack Mortgage

0. 0 .- S * 00 S F .I

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motgg *p*yment intoaninvstmntaccuntforyo. At mortgage* en *

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I --' 0
Chos WseyMoe ha'aBal





Tel: (242) 356-7764

Tel: (242) 351-3010

Hotel body hopes minister will address fish limits

Tribune Business Reporter
The Bahamas Hotel Associa-
tion is eager to work with
the new minister of tourism,
Neko Grant, its president
said yesterday noting that there are
several major areas of concern they
would like addressed.
Speaking with The Tribune, Russell
Miller said the BHA would like the
new administration to take a closer
look at the amendments to the sports-

fishing catch limits that were enacted
earlier this year under the Christie
Those limits drastically reduced the
amount of fish sportsmen could catch
and take out of the Bahamas. The for-
mer minister of agriculture and marine
resources, Leslie Miller, had aggres-
sively endorsed this, saying it would
preserve the environment for future
generations and prevent overfishing.
However, this caused an uproar in
the sports fishing industry, with US
sportsmen calling for a boycott of the

Bahamas because they felt the limited
catch allowances did not justify the
money spent in gas, docking fees and
living accommodations to come here.
Mr Miller said yesterday he hoped
the Ministry of Tourism would look
into the matter.
He added that he looked forward to
working with the ministry on a joint
taskforce to address what he considers
to be one of the biggest challenges cur-
rently facing the industry, worker train-
Mr Miller said a plan has to be put in

place to ensure that as the hotel indus-
try expands, there are sufficient quali-
fied and skilled workers to staff the
various tourism properties.
He added that he was looking for-
ward to meeting with Mr Grant in the
next few weeks to discuss the estab-
lishment of a Tourism Corporation.
Mr Grant has urged NewProvi-
dence/Paradise Island, to generate a
greater level of repeat visitor business
that matched the Family Islands, with
the former's 51.8 per cent repeat vis-
itor rate well below the 65.7 per cent

Family Island average.
In addition to revitalising his native
Grand Bahama, the new minister says
his goals are to focus on upgrading the
Lynden Pindling International Airport,
improving the infrastructure at the
Prince George Dock and its Welcome
Centre to give cruise ship passengers-a
better first impression of the Bahamas;
perhaps standardising the taxi fleet and
developing a code of conduct and ser-
vice standards", and the development
of new tours encompassing Over-the-
Hill historic sites.


Credit Sulse Wealth Management Limited
is presently considering applications for an


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Comprehensive knowledge of operational and information technology principles, practices and
processes sufficient to interpret/analyze complex issues and develop innovative slutions.to the
challenges effecting the business unit
Strong problem solving anddecision-making skills
Strong interpersonal, oral and written communications skills
Possess a confident and outgoing personality

Key Duties & Responsibilities will include:
Co-ordinate day-to-day operations functions of the main office
Oversee various Management functions; particularly the Payment, Settlement and Safe custody
Risk Management and liaise with managers to ensure maintenance of standards

Applications should be faxed to:
Human Resources Department
Fax: 302-6398


* approach to business; taking a
business that is under-perform-
ing or not able to do much more
in terms or growth, and mov-
ing it forward," Mr Anderson
Bahamas-based private equi-
ty funds, which participate in
the domestic economy, have
been a key missing ingredient
from the Bahamian capital mar-
Until funds that in invest in
stocks and shares, private equi-
ty funds acquire companies that
they usually believe are under-
performing, poorly managed or
have significant upside poten-
tial untapped. They then para-
chute in a management team
charged with turning the busi-
ness around, and exit the invest-.
ment by either selling the com-
pany on or taking it public via
an initial public offering (IPO).
Private equity funds raise
capital from high net-worth
individuals, institutional
investors and pension funds,
and often seek returns on their
investment as high as 20 per
cent per annum. They are dif-
ferent from venture capital
funds, such 'as the one estab-
lished by the Bahamian gov-
ernment, because these instead
invest in business start-ups, not
established companies.
In the Bahamian market,
apart from Fidelity's fund, there
have been no attempts to set
up a true private equity fund.
While there have been a num-
ber of private equity-type deals,
they often rely on the buyer to
be approached or identify the
opportunity. Then then have to
round-up fellow investors and
capital to ensure the deal hap-
pens, rather than having a fund
ready to go.
Examples of private equity-
type deals in the Bahamas,
apart from BSL Holdings,
would be the KLG Investments
acquisition of Aquapure and
the purchase of John S George
by Ken Hutton and his John S
George consortium.
Larry Gibson, vice-president
of pensions for Colonial Pen-
sions (Bahamas), said yester-

day that a major issue with
many private equity-type deals
in the Bahamas to date is that
they have involved too much
bank debt in financing the initial
purchase, which makes achiev-
ing returns on equity and exiting
the investment much minore dif-
"I think there would be peo-
ple who would subscribe to that
and be involved in that," Mr
Gibson said of a Bahamas-
based private equity fund. "I
think that's something that's
needed, and I think it would be
fairly well received."
He said the only questions
would be who managed a pri-
vate equity fund, and who
would invest in it.
Mr Gibson said that while
private equity funds typically
made capital available and
"make things happen a lot
quicker", the downside was that
in their drive to generate profits
for investors, they were very
aggressive in effecting turn-
arounds and could "slash and
bum", creating short-term dis-
locations by making a number
of workers redundant and
putting them on the job mar-
Finding a good management
team for the companies a
Bahamian private equity firm
took over was also key, Mr Gib-
son said, adding that as a matter
of economic policy the Gov-
ernment should look at encour-
aging joint ventures between
major investors, such as Kerzn-
er and Baha Mar, and such
Private equity funds are
already heavily involved in the
international sector of the
Bahamian economy, several
funds having financed Kerzner
International's 'going private'
transaction. Many funds also
have ownership stakes in other
Bahamian hotels.
Ken Kerr, head of Provi-
dence Advisors, yesterday also
told The Tribune that while a
private equity fund could work
in the Bahamian economy, "the
question is the quality deal flow
and availability of capital".









1 4

- 9 P.M.

FROM page 1

ue to be used as a vehicle to
raise capital from private
investors, he said, and give them
access to and participation in
deals to acquire major Bahami-
an companies.
"It was the first foray into pri-
vate equity, and that [Fidelity
Private Equity Investments Ltd]
was the vehicle for Fidelity to
invest in BSL Holdings and
Bahamas Supermarkets," Mr
Anderson said.
"There is no doubt that there
is room for a Bahamian private
equity player in this market."
He added that any Bahamas-
based private equity fund that
participated in the domestic
Bahamian market would have
to be wholly Bahamian-owned
and funded to minimise Invest-
ments Board and exchange con-
trol approval issues.
As a result, Fidelity Private
Equity Investments Ltd had
been set up as a fund structure,
although not classified as a fund.
While Fidelity Merchant Bank
& Trust held the management
and voting shares, it did not
own the income-generating or
ownership shares.
"There's good opportunities
here for private equity funds to
participate in various deals," Mr
Anders6n said. "There's lots of
businesSgs here that are not par-
ticularlvell-managed, and are
still owned through family struc-
Many Bahamian-owned busi-
nesses have recently, and will
continue, to face succession
issues, where children do not
want to, or lack the expertise, to
take over businesses that were
started and run by their parents.
Such ownership structures are
also likely to find their ability to
generate extra capital when the
need arises limited, and a
Bahamas-based private equity
fund could bring in both capital
and a new management team,
ensuring "a better product and
a more efficient business".
"The pros of an organised
private equity player are that
they bring a disciplined

PAGE 2B, TUESDAY, MAY 22, 2007

,Fidelity creates priva]ttee

equity fund vehicle





DOW 30 13,542.88 -13.65
S&P500 1,525.10 +2.35
NASDAQ 2,578.79 +20.34
10-YR NOTE 4.79 +.11
CRUDE OIL 66.27 +1.33

S&P 50C




S- Associated Press
NEW YORK Wall Stre
reached another milestone du
ing a muted session Monda
when the Standard & Poor's 5(
index briefly passed its recoil
Close of 1,527.46 for the fir
time in more than seven year
The S&P 500, considered 1
market professionals the be
indicator of stock performance
surpassed the mark shortly, aft,
noon following news of a fre.
spate of takeover deals. TI
broad market index has lagged
the Dow Jones industrial ave
age in recovering from WE
Street's prolonged slump earlier
this decade.
The S&P 500 rose as high :
1,529.87, then edged back I
1,525.10, up 2.35, or 0.15 percer
as cautious investors locked
some profits after weeks o
gains. The index's advance wa
driven by buying in non-teel
nology sectors such as energy
materials, industrials and finma
cials, S&P data showed. It is sti
well below its all-time tradir
high of 1,552.87 set on March 2
2000, the same day the index
reached its record close.
The Dow retreated modest;
after venturing further int
record territory earlier in ti
day. The blue chip index fe
13.65, or 0.10 percent, t
13,542.88 after hitting an intra
day high of 13,586.03.
The Nasdaq composite inde
rose 20.34, or 0.80 percent, t
2,578.79, after reaching a si:
year high of 2,587.87. The inde
rose as Amazon.com's stoc
saw big gains, and as investor
bought up small-cap stock
which have been trailing large
cap stocks this year.
The Russell 2000 index (
smaller companies rose 9.99, c
1.21 percent, to 833.65, a nem
record close.
In early 2000, all the majc
stock market indicators reached
record highs, only to be dragge
down by the end of the dot-coi
boom, recession, the 2001 terrc
attacks and a series of corporal
scandals including the collapse
of Enron. The-S&P 500 fell to
low of 776.76 in October.2002
the depths of a three-year bea
*, : market on Wall Street.
SThe market recover
slowly, but it wasn't until la.s
October that the more widely
recognized Dow Jones indu,
trial average surpassed its ow
i,,previous closing high c
t 11,722.98. The Dow has gone o
to barrel past 13,000 as Wa
Street rallies on a mixture c
corporate takeover news
respectable earnings and hope
for an interest rate cut.
io After 24 record closes for th
ti Dow this year, the S&P ha
.- ; finally caught up.
S"This is new territory, bt
more importantly it serves as
reminder that the three broa
indices are doing well. Thi
1 should, be the focus," sai
SArthur Hogan, chief market
Analyst at Jefferies &.Co: -
The Nasdaq, however, i
Unlikely to reclaim its record
Close of 5,048.62 anytime soor
The index was overinflated b
j investors eager to grab an
Shigh-tech stock.
Advancing issues outnuir
bered decliners by about. 3 to
on the New York Stoc
SExchange. Consolidated volum
came to 3.48 billion shares, u
from 2.92 billion Friday.
S Overseas, Japan's Nikke
Stock average rose 0.90 percent
Britain's FTSE 100 slipped 0.0
percent, Germany's DAX inde
; added 0.15 percent, and France'
CAC-40 fell 0.18 percent.

A Associated Press
LITTLE ROCK, Ark. A pair of
investment firms have agreed to
acquire Alltel, the fifth-biggest U.S.
wireless company and owner of the
nation's largest geographic network,
in a deal worth $24.8 billion.
The telecommunications company
announced Sunday that it had signed
an agreement to be acquired by TPG
Capital, formerly Texas Pacific
Group, and GS Capital Partners, a
subsidiary of Goldman Sachs. The
investors also agreed to take on All-
tel's $2.7 billion in debt.
"This transaction delivers sub-
stantial and certain value to our
shareholders while providing the

company with long-term partners
who share our commitment to our
customers, employees and the com-
munities we serve," Scott Ford, All-
tel's chief executive, said.
"This transaction also ensures our
customers can continue to rely on
Alltel to deliver high-quality service
and leading edge products and ser-
The deal, if approved by share-
holders and regulators, is expected to
close during the fourth quarter of this
year or the first three months of 2008,
Alltel said.
Alltel has about 12 million cell-
phone customers, mainly in the
South, West and Midwest. That ranks
it fifth in number of customers, after

Cingular, Verizon, Sprint and T-Mo-
bile, but the company's service "foot-
print" is larger than any of those
rivals, Ford said.
The agreement calls for the two
investment firms to acquire all of the
outstanding common stock of Alltel
for $71.50 per share in cash. Accord-
ing to Alltel, that represents a 23 per-
cent premium over Alltel's share
price before word of a possible buy-
out first appeared in the media on
Dec. 29.
Trading in Alltel's stock closed
Friday at $65.21, down 14 cents from
the day before. The $71.50 per share
buyout price would represent a pre-
mium of only about 10 percent over
Friday's share price.


FILLING UP: A driver gets gas at a Hess station in Collegeville, Pa., on Monday, as retail g
prices climbed to another record.



Associated Press

NEW YORK Retail gasoline prices climbed to another record
Monday, while crude oil futures jumped above $66 per barrel amid
concerns about gasoline supply heading into the peak summer driving
season. A gallon of regular unleaded costs an average of $3.196 across
the country, up from $3.178 on Sunday, according to AAA and Oil Price
Information Service.

Prices are up 33.7 cents from a
month ago and 30.4 cents from a
year ago, as demand remains
strong, and a -spate of planned and
unexpected refinery shutdowns
have constricted supply.
"As we start a new week, we
have an insanely bullish market -
which has already advanced to
absurdly high levels," Cameron
Hanover's Peter Beutel wrote in a
research report. "We are running
seven weeks behind normal this
refinery turnaround season, after
taking an extra seven or eight
weeks in the fall to maintain refm-
The U.S. Energy Information
Administration reported last week
that gasoline inventories while
increasing to 195.2 million barrels
for the week ended May 12 are
still well below the average for this
time of year. The U.S. peak driving
season, meanwhile, is set to begin
this long Memorial Day weekend.
Gasoline futures for June deliv-
ery slipped less than a penny to
settle at $2.4013 per gallon on the
New York Mercantile Exchange.
Light, sweet crude for June
delivery jumped $1.33 to $66.27 per
barrel on the Nymex after earlier

falling as low as $64.45. Brent
crude for July delivery added $107
to $70.49 on the ICE Futures
exchange in London.
Citigroup Global Markets
energy analyst Tim Evans said
there was no one reason for the
jump in crude prices, which fol-
lowed some weakness in morning
trading. "It doesn't have to have a
reason," he said.
The June crude contract on the
Nymex expires Tuesday, meaning
"it only takes a stiff breeze to
move it," Evans said.
Attackers in Nigeria vandalized
an oil installation run by Total SA,
the company said Monday. No
injuries, kidnapping or produc-
tion cuts were reported, though.
The attackers caused "a couple
of barrel's worth" of oil to spill,
but production wasn't affected, a
Total spokeswoman said. Nigeria
is one of the world's largest crude
producers, and attacks on oil
installations have become an
almost daily occurrence following
elections there last month.
The next few days likely will be
volatile for oil and gasoline
futures, said Jim Ritterbusch of oil
trading advisory firm Ritterbusch

posted at this Shell c
in San Mateo on Mor

and Associates.
The inauguration of
ident in Nigeria could I
violence, which wou
prices. The federal g
also will release its up
cane outlook.
"That's liable to p
around a bit," Ritter
"We've got things goin
the next few days."
In other Nymex trE
ing oil futures rose 3
$1.9509 a gallon while
prices fell 3.1 cents t(
1,000 cubic feet.

Ford said that the buyout price is
"a 10 percent premium over a price
that clearly anticipated this outcome"
after scores of articles had been writ-
ten about Alltel's prospects in the
first months of this year.
The announcement was the sec-
ond in a week of a buyout of a corpo-
ration based at Little Rock to be taken
private by the new owners. On
Wednesday, data-management firm
Acxiom announced it was to be
acquired in a buyout worth about
$2.25 billion.
Ford said that the Alltel deal
resulted from "a very thoughtful,
very careful, very thorough review"
over several months by the Alltel


Court rules



in phone


Associated Press
Court on Monday sided with the
nation's largest local phone companies
in a lawsuit by consumers alleging anti-
competitive business practices.
The court ruled 7-2 that the suit
lacked any specifics in accusing the
companies of secretly agreeing not to
compete in each other's territories for
local telephone and high-speed Internet
It is not enough to make a bare asser-
tion of conspiracy, Justice David Souter
wrote in the majority opinion.
Souter said the complaint alleging
restraint of trade "comes up short." He
said the consumers who filed the suit
It "have not nudged their claims across
the line from conceivable to plausible."
In dissent, Justice John Paul Stevens
objected to the lower court's dismissal
of the case without requiring a response
from the phone companies. Federal
EORGE WIDMAN/AP rules, previous rulings and "sound prac-
)asoline tice mandate that the district court at
least require some sort of response,"
Stevens wrote.
- The case stems from changes to the
telecommunications law in 1996. The
FE local phone companies were to open
their monopoly markets to competition.
In return, they were given the opportu-
nity to enter long-distance business. At
S the time, the four companies controlled
more than 90 percent of the market for
local phone service.
The defendants were Bell Atlantic,
S BellSouth, Qwest Communications, and
SBC Communications. Bell Atlantic is
S now Verizon and SBC bought AT&T
and the renamed company, AT&T,
merged with BellSouth.
0 The Supreme Court decision
SI "embraces an important principle about
protecting the freedom of firms to make
o unilateral decisions on what markets to
f enter ornot enter," said John Thorne,
-senior vice president & deputy general
counsel of Verizon Communications.
1 Consumers represented by a promi-
nent firm of plaintiffs' attorneys sued
when the companies kept to their own
territories rather than competing. The
consumers also alleged the local phone
Companies conspired to keep smaller
A1 companies from competing success-
fully in the larger companies' markets.
The companies said there are inno-
cent explanations; that it is understand-
PAUL SAKUMA/AP able each company would decide indi-
prices are vidually against devoting scarce
gas station resources to the risky enterprise of
nday. entering new markets.
The Bush administration supported
the phone companies, saying the law-
fa new pres- suit "fails to provide concrete notice of
lead to more the alleged wrongdoing." Those filing
ld drive up such lawsuits, said the Justice Depart-
;overnment ment's solicitor general, need to be able
dated hurri- to point to allegations of particular
jointly attended meetings or to involve-
push things ment of alleged conspirators in joint
busch said. activities.
g on here in A federal judge dismissed the case,
saying the lawsuit contained no direct
ading, heat- factual allegations that the companies
.57 cents to had conspired.
natural gas Companies with "similar informa-
o $7.913 per tion and economic interests will often
reach the same business decisions," the
federal court said.


SAlltel agrees to buyout for $24.8 billion

I -= _IL~~~ ~b I _~ _I I I I I -


aiM miHerald com I D


S +2.35 NASDAQ +20.34 3,DOW -13.65 6-MO T-BILLS +.05 30-YR T-BONDS V -.01 G'LD 4* +1.90 EURO -.0038CRUDE OIL +133
1,525.10 + 2,578.7942.88 4.81% 4.94% $662.90 1.3467 $66.27


2,700 2,600 .

2,600 2,.40

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

S&P 500 2,300 .......
Close: 1,525.10
Change: +2.35 (+0.2%)
2,200 .. ... .......... ..


DOW 13586.03 13529.14 13542.88 -13.65 -0.10%
NYSE NASD DOW Trans. 5223.48 5190.68 5202.94 -10.77 -0.21%
DOW Util. 535.93 532.99 535.72 +2.34 +0.44%
Vol. (in mil.) 3,479 1,916 NYSE Comp. 9926.94 9888.66 9897.46 +3.72 +0.04%
Pvs. Volume 2,924 1,950 NASDAQ 2587.87 2560.85 2578.79 +20.34 +0.80%
Advanced 1949 2036 S&P 500 1529.87 1522.71 1525.10 +2.35 +0.15%
Declined 1310 1021 S&P 400 907.81 898.05 905.56 +7.37 +0.82%
New Highs 346 187 Russell 2000 837.19 823.22 833.65 +9.99 +1.21%
New Lows 14 49 Wilshire 5000 15401.17 15304.64 15355.90 +50.91 +0.33%

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ACE Ltd 62.12 +.38
AES Cp If 23.61 +.26
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AMR 26.31 -.69
A.;ML Hid 25.32 -.19
AT&T Inc 40.55 -.55
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Accenture 39.66 -.01
Adecco 18.06 +.09
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AMD 15.43 -.16
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Agilent 38.32 +.32
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AirProd 77.96 -.60
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Allergan 120.73 -1.59
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Allianz 21.73 -.11
Aldirish 61.18 +.15
Allstate 62.61 -.14
Alltel 69.60 +4.39
AlteraCp If 22.93 +.08
Altria s 70.85 +.90
Alumina 24.98 -.05
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Amazon 68.30 +5.00
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Amgen 54.18 +.14
Amphenol s 35.23 +.18
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Anheusr 49.65 -.50
Aon Corp 43.51 -.14
Apache 78.71 +.92
ApolloG If 48.99 -.15
Apple Inc 111.98 +1.96
ApldMatl 18.90 +.05
ArcelorMit 59.12 -.17
ArchDan 36.80 -.10
ArchstnSm 51.57 +.14
Assurant 60.08 -.07
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AutoZone 133.99 -.52
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Avaya 13.88 +.21
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Avon 37.80 -.33
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BB&TCp 42.90 +.04
BCE gn 36.04 +.41
BG Grp 77.55 +.68
BHP BilILt 51.59 +.49
BHPBil plc 48.46 +.55
BJ Svcs 30.78 +.27
BMC Sft 31.54 +.56
BP PLC 69.44 +.54
BT Grp 60.58 -.88
BakrHu 82.49 -.11
BcBilVArg 25.10 -.27
BcBrades s 25.72 +.38
Bncoltau 46.07 +.52
BcoSnCH 18.35 -.32
BcSanChile 51.26 -.30
BkofAm 51.23 -.05
Bklrelnd 89.86 -.21
BkMont g 63.34 -.06
BkNY 40.11 -.19
BkNova g 49.71 +.25
Barclay 57.07 -.78
Bard 82.91 -.11
BarrickG 30.27 +.44
Baxter 57.42 +.15
BayerAG 71.49 +2.27
BearSt 151.07 +1.50
BectDck 76.98 -.81
BedBath 41.22 +.65
Berkley 32.69 +.37
BerkHa A 109000 +649
BerkH B 3631 +27
BestBuy 47.87
Biogenldc 46.90 +.52
Biomet If 43.50 -.09
BlackD 93.72 +.26
BlackRock 148.32 +.12
BlockHR 23.46 +.26

Name Last Chg
Boeing 96.90 +.27
BostProp 108.28 +.98
BostonSci 15.53 +.09
BrMySq 30.31 -.14
BritATob 64.43 -.60
BritSky 51.71 -.27
Broadcom 30.85 +.11
BrkfldAs gs 64.73 +.54
BrkfIdPrp 39.40 -.05
BungeLt 79.17 -.55
BurINSF 93.55 -.89
CA Inc 27.92 +.32
CB REllis 37.70 +.37
CBOT 196.00 +2.62
CBS B 32.84 +.29
CDW Corp 77.99 +.33
CH Robins 52.46 +.10
CIGNA 163.55 -3.12
CIT Gp 60.10 +.30
CNA Fn 49.17 +.10
CNH Gbl 46.12 +.91
CNOOC 94.13 +2.34
CPFL En 56.07 -.30
CRH 47.29 -.17
CSX s 45.62 -.93
CVS Care 37.80 -.66
CablvsnNY 35.42 +.04
CadbyS 54.45 +.13
Cameco gs 51.30 +1.25
Cameron 71.19 +.40
CampSp 39.50
CIBC g 96.99 -.05
CdnNRy g 53.57 -.03
CdnNRs g 65.83 +.71
CP Rwy g 71.03 -.50
Canons 58.32 +.02
CapOne 77.92 +.48
CardnlHIth 71.77
Carnival 49.42 +.24
CarnUK 50.39 +.31
CarolinaGp 78.21 +.03
Caterpillar 74.85 +.08
Celgene 65.00 +.46
Cemex s 35.34 +.22
Cemig s 38.41 +.11
CenterPnt 19.56
ChesEng 35.63 +.37
Chevron t- 8.S-._. 02Z -
ChiMerc 515.00 -4.90
ChinaLfe s 49.64 +.15
ChinaMble 47.90 -.30
ChinaNet 52.81 +1.25
ChinaPet 104.95 +1.45
ChinaTel 54.37 +.35
ChinaUni 14.85 -.30
Chubb 54.84 -.13
ChungTel 19.11 -.08
CinnFi 46.53 -.25
Cisco 26.40 +.19
Citigrp 54.84 -.16
ClearChan 38.05 -.18
ClearCh 29.14 +14
Clorox 67.54 +.47
Coach 48.58 +.62
CocaCE 22.98 +.06
CCFemsa 40.40 +.16
CCHellen 46.16 -.16
CocaCI 51.91 -.72
CogTech 78.42 -.41
ColgPal 67.03 -.27
Comcast s 27.54 +.01
Comc sp s 27.18 +.07
Comerica 63.19 -.24
CmcBNJ 34.26 -.18
CVRDs 45.08 -.01
CVRD pf s 37.67 +.07
CompsBc 69.75 -.50
CompSci 57.06 -.27
ConAgra 25.18 -.19
ConocPhil 75.86 +1.01
ConsolE s 46.56 +.55
ConEd 51.00 +.05
ConstellEn 94.77 -.20
Cooper s 52.05 -.44
Corning 24.52 +.60
Costco 55.77 -.64
CntwdFn 40.49 -.76
CoventryH 59.83 -.17
CredSuiss 75.10 -.69
CrwnCstle 36.31 +.68
Cummins s 87.84 +.42
DJIA Diam 135.20 -.30
DR Horton 22.82 +.27
DTE 53.73 +.81
DaimlrC 87.20 +.37
Danaher 71.35 +.18
Danone 31.77 +.14
Darden 45.67 +.33
Dassault 58.15 -.57
Deere 118.81 +2.30
Delhaize 97.88 -1.26
Dell Inc If 25.94 -.13
DeutschBk 156.68 -1.21
DeutTel 17.02
DevDv 60.24 +.02
DevonE 79.04 +1.09
Diageo 84.04 -.94
DiaOffs 94.17 +1.27
DirecTV 23.79 +.03
DiscHoldA 23.67 +.72
Disney 36.44 +.42
DollarG 21.56 +.02
DomRes 91.03 -.03
DonlleyRR 43.20 +.22
Dover 49.15 +.66
DowChm 45.92 -.07
DuPont 52.07 -.31
DukeEgy s 20.39 -.01
ETrade 22.77 -.01
E.ON AG 50.85 -.24
eBay 32.66 -.04
EMC Cp 15.83 +.14

Name Last Chg

ENI 71.01 +.39
EOG Res 78.53 +.06
EKodak 25.07 +.56
Eaton 92.31 -.09
EchoStar 49.56 +.32
Ecolab 43.75 -.21
Edisonint 59.42 +.56
ElPasoCp 16.22 +.14
Elan 18.69 +2.09
ElectArts 49.21 +.63
EDS 28.44 +.17
Embarq 64.84 -.18
EmersnEl s 46.17 +.25
EEIChile 45.90 -.30
Enbridge 34.52 +.48
EnCana 62.71 +.24
Endesa 54.08 -.33
Enel 56.89 +.16
EngyTEq 40.02 +.03
EngyTsfr 60.33 +.17
Enersis 18.36 -.54
ENSCO 60.20 +.21
Entergy 117.62 -.65
EntPrPt 32.25 +.21
EqtRes 52.13 +.47
EqtyRsd 46.67 +.53
EricsnTI 38.12 -.27
EsteeLdr 47.16 +.16
EverestRe 106.39 -.47
ExeJon 77.56 -.89
Expedia 25.26 +.62
ExpdIntl s 44.45 +.15
ExpScripts 98.56 -.19
ExxonMbl 83.59 +.33
FPL Grp 65.52 +.45
FannieM If 63.29 +.11
Fastenal 42.57 +.22
FedExCp 105.82 -.73
FedrDS s 39.89 +.19
Fiat 28.62 -.09
FidNInfo 51.02 +.14
FifthThird 41.38 +.22
FirstData s 32.60 +.02
FirstEngy 72.23 +1.05
Fiserv 53.50 -.01
Flextrn 11.34 +.13
Fluor-... 100.49 +.49
FEMSA- -119.04- +.59
FordM 8.78 +.09
ForestLab 51.79 -.88
FortuneBr 79.91 +.41
FosterWh 98.80 +3.89
FranceTel 29.32 -.37
FrankRes 136.62 +.63
FredMac 67.50 -.09
FMCG 72.38 +1.23
FresenM 49.14 -.93
Fujifilm 41.12 +.26
Gannett 59.31 -.43
Gap 18.47 +.03
Garmin s 57.40 +.57
Genentch 77.17 -.11
GenDynam 81.96 +.70
GenElec 37.10 +.14
GnGrthPrp 57.50 +.56
GenMills 60.85 -.12
GnMotr 31.28 -.17
GenuPrt 50.37 +.30
Genworth 36.40 +.04
Genzyme 62.74 -.27.
Gerdau 22.52 +.36
GileadSci 82.70 -.32
GlaxoSKIn 53.18 -4.53
GlobalSFe 68.53 -.10
GoldFLtd 17.35 +.02
Goldcrp g 23.94 +.18
GoldmanS 229.23 -1.11
Goodrich 59.34 +.19
Goodyear 34.52 -.46
Google 470.60 +.28
Graingr 85.40 +.62
GrantPrde 57.87 +.86
GpoSimec 14.15 +.35
GpTelevisa 30.06 +.19
HDFC Bk 81.95 +3.85
HSBC 92.77 -.33
Hallibtn s 36.71 +.25
Hanson 105.91 -.49
HarleyD 62.88 -.02
Harman 118.50 +.31
HarrahE 85.45 +.05
HarrisCorp 49.49 +.39
HartfdFn 105.54 +1.09
HlthCrPr 31.39 -.11
HealthNet 57.73 -.34
Heinz 47.04 +.56
HellnTel 15.14 +.13
Hershey 52.01 +.24
Hertz n 20.98 -.27
Hess s 60.59 +.91
HewlettP 45.22 +.64
Hilton 34.00 -.31
Hitachi 70.58 +.16
HomeDp 38.63 -.25
Honda 34.37 -.13
HonwIllntl 58.30 -.40
Hospira 39.41 -.33
HostHotls 23.55 -.06
HuanPwr 44.05 +.21
HudsCity 13.26 -.06
Humana 64.15 -.71
HutchTel 31.24 +.04
IAC Inter 34.54 +.20
ICICI Bk 47.69 -.16
ING 44.95 -.05
iShJapan 14.25
iShDJDv 75.53 +.11
iShSP500 152.81
iShEmMkt 127.02 +.17
iSh EAFE 79.97 -.38
iSR1KV nya 89.16 +.07
iShR2K nya 82.76 +1.03

ITT Corp
ImpOil gs
Infosys s
IntCtlHtl rs
Intuit s
Ipsco g
JacobsE s
KT Corp
L-3 Corn
LG Philips
LSI Corp
LeucNatl s
Lowes s
M&T Bk
Magnal g
Manulif gs
MarlntA s
MasterCd n
Maxim If
McDerml s
Millea s
MizuhoF n
Monsanto s
Mosaic If
NIl HIdg

1,550 1,540

1,500 1,50 0
1,46 0 10 DAYS



125.09 +.48



3-month T-bill 4.78 4.69 +0.09 A V V 4.71
6-month T-bill 4.81 4.76 +0.05 A V V 4.81
1-year T-note 4.96 4.97 -0.01 A A 5.00
2-year T-note 4.79 4.80 -0.01 A A A 4.97
5-year T-note 4.71 4.72 -0.01 A A A 4.97
10-year T-note 4.78 4.80 -0.02 A A A 5.06
30-year T-bond 4.94 4.95 -0.01 A A A 5.14




S ;Recap

Name Last Chg
SchergPl 33.34 +.20
Schlmbrg 80.14 +.74
.. .................... ....... Schwab 21.12 +.15
10..DAYS .. SeagateT 20.86 -.02
SearsHldgs 179.59 -.29
... ...... ..... SempraEn 64.32 +.27
ShawC g 40.55 +.08
Sherwin 67.40 -.13
... .. ...... .................. Shinhan 117.23 -1.01
Shire 69.72 -.05
SiderNac 52.75 +.27
..... Nasdaq composite Siemens 124.20 -.95
Close: 2,578.79 SimonProp 104.18 +.87
Change: +20.34 (+0.8%) Smith&N 61.83 -1.11
.. ............ .............Sm ithintl 55.86 +.73
F M A M Sodexho 77.12 -1.50
SonyCp 57.38 +1.82
SouthnCo 37.33
WK MO QTR YTD SthnCopp s 86.10 +1.01
WK M0TR YTD wstAirl 14.39 -.12
A A A +8.66% SwstnEngy 46.59 +.69
A A A +14.09% SovrgnBcp 23.61 -.10
A A A +17.28% SpectraE n 26.84 +.04
A A A +8.30% SprintNex 21.40 +.61
A A A +6.77% SPDR 152.54 -.08
A A A +7.53% SP Mid 164.72 +1.21
A A A +12.58% Staples 25.67 +.12
A A A +5.84% Starbucks 29.28 +.33
A A A +7.70% StarwdHtl 68.36 -.84
StateStr 68.88 .+.50
Statoil 28.06 +.13
StoraEnso 19.03 +.08
Last Chg Name Last Chg Stryker 67.16 -.20
Suez 57.28 -.97
66.75 -.37 NYSE Eur 86.43 +3.99 SunLfFn g 47.30 +.13
51.96 +.53 Nabors 35.94 -.14 SunMicro 5.39 +.10
43.73 -.35 Naspers 26.72 +.58 Suncor g 87.56 -.12
46.52 +.66 NtAust 177.05 -1.37 Sunoco 77.30 +1.28
85.51 -1.62 NBkGreece 11.62 -.08 SunTrst 89.65 +.15
43.54 -.41 MtNI 11X +. Supvalu 46.42 -1.01
14.75 -.14 NOilVarco 94.65 +.37 Swisscom 34.62 -.18
49.99 -.43 NatSemi 26.75 +.14 Symantec 19.79 -.07
48.90 -.13 NetwkAp 38.21 +.22 Syngenta 37.11 -.09
22.63 -.07 NewellRub 30.52 +.20 Synovus 32.57 +.03
146.08 +6.90 NewfldExp 48.24 +.09 Sysco 32.95 -.61
26.79 -.21 NewmtM 39.45 +.26 TD Ameritr 18.37 +.47
107.04 -.95 NewsCpA 22.33 +.28 TDK 90.95 +1.48
40.05 -.57 NewsCpB 23.90 +.21 TJX 28.28 -.05
38.82 -.30 Nexen g s 30.80 -.06 TNT NV 44.33 -.09
92.27 +.09 NiSource 25.15 -.21 TXU Corp 67.05 +.27
31.21 -.35 Nidec 14.37 -.13 TaiwSemi 10.51 -.02
157.25 +.17 NikeB wi 54.68 +1.43 TalismE gs 20.49 +.41
52.56 +.02 NippnTT 23.38 +.01 Target 58.14 -.01
55.22 +.12 Nissan 21.91 +.24 TataMotors 17.81 -.48
63.52 +.10 NobleCorp 91.94 +.31 Technip 76.57 -.04
110.22 -.38 NobleEn 63.65 +.84 TeckCni gs 41.71 +.34
23.77 +.48 NokiaCp 26.97 -.07 TelcNZ 28.18 -.07
53.49 -.16 Nomura 19.37 -23 Telltalia 29.12 +.24
16.37 -.10 Nordstrm 52.70 -.65 TelltaliaA 23.36 +.21
24.11 -28 NorflkSo 57.50 -.63 TelBrasH 39.02 +1.47
53.60 -.05 Norsk s 35.54 +.07 TelSPaulo 29.60 +.48
36.59 -24 Nortel lfrs 25.25 +.94 TelefEsp 67.01 -.83
41.49 -.01 NorTrst 64.07 -.10 TelMexL 39.70 +.87
71.46 -.45 NorthropG 76.86 -.14 Telenor 57.82 +1.15
44.09 +.32 Novartis 55.47 -1.24 TelData If 59.13 +.23
55.33 +.25 NovoNdk 102.86 +.51 Telkom 95.75 -1.26
106.94 -.01 Nucor s 66.39 -.25 Telus g 58.27 +.07
73.85 -1.18 Nvidia 35.13 +.11 Templein 62.05 -.35
88.50 -2.17 OcciPets 54.79 +.12 Tenaris 4720 +.76
22.24 -.07 OffcDpt 35.30 +.09 Terex s 79.47 +1.75
33.19 +.08 Omnicom 103.55 -.25 Tesoro 121.00 +2.02
29.52 -.07 Oracle 19.32 +.07 TevaPhrm 4056 +.52
38.13 -.69 Orix 131.68 -4.96 Texlnst 35.55 -.32
97.60 +.15 PG&E Cp 51.42 -.03 Textron 105.64 +.26
94.46 +.16 PNC 74.63 -.28 ThermoFis 53.57 -.06
21.22 +.14 POSCO 111.44 +.44 Thomson 43.41 -.57
8.29 +.05 PPG 77.97 +.16 3M Co 87.06 +.16
78.79 +.36 PL Corp 45.78 -.24 Tiffany 52.03 +.76
43.98 +.15 Paccar s 88.19 +1.79 TW Cable n 38.31 +.41
51.87 +.20 ParkHan 96.66 -.16 TimeWam 21.75 +.21
75.91 -.79 Paychex 39.98 +.62 Trchmrk 69.82 -.13
100.05 +.55 PeabdyE 54.24 +.73 TorDBk g 64.90 +.36
73.31 +.91 Pearson 17.76 -.34 Total SA s 76.26 +.21
34.33 +.11 PennWstgn 35.45 +1.24 TotalSys 32.44 +.18
5.53 +.19 Penney 78.87 -.81 Toyota 120.38 -1.45
38.29 +.47 PepsiBott 33.79 -.12 TrCda g 36.69 +.10
37.61 PepsiCo 69.03 -.45 Transocn 97.21 +1.6"
35.85 +.29 PetroC g 50.70 +.78 Travelers 55.89 -.40
24.38 -.12 PetChina 131.20 +.05 Tribune 32.98 -.07
118.14 +1.07 PetrbrsA 96.35 +1.77 Turkcell 1523 +.26
59.62 +.25 Petrobrs 108.84 +1.45 Tlycolntl 32.18 -.10
26.16 -.05 Pfizer 27.42 -.02 Tlyson 22.04 -.01
73.77 -.23 PhiliD 54.18 -.61 UBS AG s 63.93 -.87
36.99 +.21 PhilipsEl 40.91 -.56 UPM Ky 25.23 +.74
46.27 -.33 PioNtrl 50.00 +.68 UST Inc 55.94 -.08
98.79 +.63 PitnyBw 47.07 -.32 UltraPt g 63.76 +.61
50.59 +.50 PlainsAA 60.90 +.40 UUnlao 113.56 +.81
31.88 -.79 PlumCrk 40.06 +.40 UnilevNV s 29.72 -34
34.26 +.46 Polo RL 95.44 +.88 Unilevers 31.01 -.48
37.13 -.22 PortglTel 13.64 UnionPac 119.08 -.77
112.94 +.24 Potash 206.61 +.66 UnBnCal 61.72 +.04
69.31 -.12 PwShs QQQ 47.01 +.30 UtdMicro 3.26 -.01
56.59 -.92 Praxair 68.92 -29 UPS B 70.31 +.26
62.95 +.15 PrecCastpt 116.43 +2.13 US Bancrp 34.58 -.20
83.85 +1.23 PriceTR s 49.51 -.13 US Cellu If 75.15 +377
87.40 +1.14 PrinFncl 61.56 -.16 USSteel 109.36 -.26
36.16 -.15 ProctGam 63.27 -.21 UtdTech 68.92 -.27
116.07 +1.55 ProgrssEn 52.34 -.21 UtdUtils 30.33 -.06
44.74 -.53 ProgsvCp 23.05 -.03 UtdhIthGp 53.50 +.03
31.47 +.19 ProLogis 62.90 +.85 UnumGrp 27.32 +.14
49.55 -.15 Prudentl 103.17 +25 VF Cp 91.24 +371
145.77 +2.41 Prud UK 30.66 -.38 ValeroE 75.78 +1.81
16.37 -.14 PSEG 91.84 -.33 VeoliaEnv 82.41 -.69
30.03 +.39 PubStrg 84.61 +1.43 Verisign 27.39 +.63
139.51 +1.46 Publicis 46.00 -.24 VerizonCm 42.54 -.05
20.29 +.16 PulteH 26.57 +.53 ViacomB 42.75 -.17
28.70 -.13 Qualcom 46.13 +.92 VimpelCm 102.11 +2.42
31.52 +.13 QstDiag 48.73 +.20 VirgnMda h 26.65 +1.80
73.83 +1.14 Questar 103.80 +2.50 Vodafone 28.85 +.06
52.27 -.06 QwestCm 10.01 +.17 Volvo s 20.54 -.25
69.65 -.37 Raytheon 54.30 -.25 Vomrnado 113.10 +1.61
62.44 +.52 ReedElsNV 39.49 -.65 VulcanM 115.83 +1.41
57.21 +.17 ReedEls plc 53.28 -1.10 WPP Gp 74.89 -1.27
77.20 -.18 RegionsFn 36.28 -.21 Wachovia 56.65 -.01
50.57 -.68 ReliantEn 27.40 +.54 WalMart 46.62 -.65
42.98 -.42 Repsol 36.33 -.23 Walgm 45.12 -.62
53.79 +.54 RschMotn 152.00 +.45 WA Mut 42.96 -.11
93.83 -.34 ReutrGrp 75.03 45 WsteMInc 38.91 +.26
68.50 +.08 ReynAm s 66.71 -.46 Weaathfdlnt 56.67 -.16
54.26 +24 Rinker 79.52 +.04 WellPoint 84.43 -.64
40.45 -.19 RioTinto 282.05 +3.67 WellsFgo s 36.31 -.11
11.45 -.02 RockwlAut 64.29 +.44 WstnUnn 21.76 +.12
31.05 +22 RockColl 68.81 +.29 Westpac 110.99 -1.31
38.47 -.71 RogCm gs 41.00 +.42 Weyerh 80.47 +.33
86.32 +.48 RoHaas 53.95 +.06 Whrlp 113.48 -."35
47.93 +.61 Rostele 56.26 +.76 WmsCos 31.06 +2.11
10.90 +.05 RoyalBk g 55.02 -.09 WillisGp 44.24 +.37
382.00 -.60 RylCarb 42.21 +.19 Windstrmn 14.93 +.17
12.77 +.16 RoyDShlIB 76.61 +.93 Wipro 16.45 -22
54.65 +.12 RoyDShllA 74.84 +.56 Wolseley s 25.93 -.21
95.82 +.67 Ryanair s 41.48 +.59 WooriFnn 73.99 +.50
91.28 -.30 SAPAG 46.12 -.17 igley 57.56 +.06
61.83 SK TIcm 27.01 -.12 Wyeth 58.41 +2.03
49.78 -.30 SLGreen 132.61 +1.72 Wyndhamn 36.37 -.03
68.26 +.59 SLMCp 55.30 -.10 W'nn"" 94.19 +45
85.61 +.56 STMicro 19.88 -.09 XLCap 81.33 -.25
31.94 +.33 Safeco 63.13 -.26 XTO Engy 58.70 +.79
18.90 +.11 Safeway 34.42 -.47 XcelEngy 24.14 -.07
60.99 +1.28 StJude 43.29 +.23 Xerox 18.33 +.05
52.00 -.23 SanDisk 4427 +.13 Xilinx 29.05 -.21
4.88 -.07 Sanofi 47.76 +.47 YPF Soc 41.92 +.50
78.87 +.68 Santos 42.32 +.11 Yahoo 29.35 -.40
4.50 -.03 SaraLee 17.61 -.17 YumBrds 67.15 +26
87.12 +1.15 Sasol 39.20 -.19 Zimmer 90.08 +.03
17.61 +.18 Satym c A a4 -0n ZionBcp 81.52 -.15

6MO. 1YR.
+.06 .3247 -.0021
+.97 .4622 +.0588
-.22 1.9002 +.0922
+.48 .8725 +.0287
-.00 .001883+.000011
-.00 .000438+.000096
-.00 .0297 +.0006
-.28 1.2843 +.0695
-.26 .008484 -.000723
+.31 .091211 +.003444
+.71 .0413 +.0003

GlobalM.' '0 -

S&P 500 1525.10 +2.35 +0.15% A A A +7.53%
Frankfurt DAX 7619.31 +11.77 +0.15% A A A +15.50%
London FTSE 100 6636.80 -4.10 -0.06% A A A +6.69%
Hong Kong Hang Seng 20927.75 +22.91 +0.11% V A A +4.82%
Paris CAC-40 6089.91 -11.23 -0.18% A A A +9.89%
Tokyo Nikkei 225 17556.87 +157.29 +0.90% V A A +1.92%

Buenos Aires Merval. 2209.08 +22.69 +1.04% A A A +5.67%
Mexico City Bolsa 30708.73 +32.39 +0.11% A A A +16.11%
Sao Paolo Bovespa 52423.45 +345.77 +0.66% A A A +17.88%
Toronto S&P/TSX 14165.34 +4.63 +0.03% A A A +9.27%

Seoul Composite 1628.20 +15.95 +0.99% A A A +13.51%
Singapore Straits Times 3414.49 -97.91 -2.79% V A A +14.36%
Sydney All Ordinaries 6372.50 +52.80 +0.84% A A A +12.90%
Taipei Taiex .' 8141.59 +107.45 +1.34% A A A +4.06%
Shanghai Shanghai B 365.64 +4.98 +1.38% A A A +181.02%

Largest Mutual Funds




AIM Fidelity Spartan DivrEqlnA m 14.30 +.03 +23.7
ConstellA m 28.83 +.11+15.9 5001ndxAd 106.08 +.16 +22.6 Russell
American Cent 5001ndxln 106.07 +.16 +22.6 MulStrBdS 10.32 +.02 +5.9
Ultralnv 28.99 +.08 +9.7 USEqlndxl 54.08 +.08 +22.5 Schwab
American meds First EagleYIdPsSe 9.69 +.01 +5.9
AmcapA m 21.57 +.03 +16.8 GIbA m 48.85 +.05 +18.2 sSel 9.69 +.01 +
BalA m 19.88 +.01 +16.1 OverseasA m 27.03 +.01 +18.0 Selected
BondA m 13.35 ... +7.3 FrankTemp-Franklin AmerShS b 49.57 +.12 +21.6
CaplncBuA m 65.25 -.07 +24.6 CA TFA m 7.31 ... +5.9 T Rowe Price
CpWIdGrIA m 45.87 -.08+25.3 Fed TFA m 12.05 +.01 +5.2 BIChpGr 39.06 +.11+20.8
EurPacGrA m 50.83 -.09+222 Income A m 2.82 ...+23.4 CapApprec 22.15 +.03 +19.6
FundmlnvA m44.16 +.09 +23.0 Income C m 2.84 ... +23.1 Eqlndex 40.98 +.06 +22.2
GrowAmerA m35.65 +.06 +17.7 IncomeAdv 2.81 ... +24.2 Eqtync 31.87 +.06+24.8
GrowAmerB m34.44 +.06 +16.8 SmMdCpGrA m42.80+.52 +19.8 Eqtync 31.87 +.06 +24.8
HilncA m 12.85 +.01+12.8 RankTemp-Mutual GrowStk 34.41 +.04+22.9
IncAmerA m 21.55 -.01 +22.7 Discov A m 33.59 +.08 +27.7 IntlStk 18.15 -.06+20.9
InvCoAmA m 35.97 +.02 +20.0 Shares A m 28.21 +.06 +22.7 MidCapVa 28.12 +.15 +27.2
MutualA m 31.80 +.02 +23.3 Shares Z 28.44 +.06 +23.1 MidCpGr 61.51 +.52 +20.0
NewEconA m 28.83 -.01 +21.7 FrankTemp-Templeton NewHoriz 35.26 +.38 +12.3
NewPerspA m34.54 -.01+22.2 Fgn A m 14.76 -.01 +20.5 SmCpStk 36.87 +.41 +14.2
NwWrldA m 54.54 +.05+34.5 ForEqIs 29.39 -.06+32.0 SmCpVal 44.85 +.42+15.7
SmCpWldA m44.36 +23+26.3 Growth Am 27.34 ...+21.8 Value 29.72 +.04+24.3
WAMutInvA m37.76 -.02 +23.6 Growth Ad 27.39 ... +22.1 Third Avenue
Arti47saWorld A m 20.87 +.02 +21.8 Value 64.97 +.08 +18.4
Intl 31.47 -.09+23.5 Franklin Templeton
Baron FndAIIA m 14.81 +.01 +22.3 Tweedy Browne
Growth b 53.07 +.43+13.6 Harbor GlobVal 34.54 -.02+27.0
Bernstein CapAplnst 35.26 +.12 +13.6 Van Kampen
TxMIntl 28.60 -.10 +22.1 IntllnstI 68.94 -.14 +29.7 ComstockA m20.58 -.06 +21.3
BlackRock Hartford EqlncomeA m 9.65 +.02 +17.8
GlobAlcA m 19.46 +.02 +16.2 AdvHLSIA 24.16 +.06 +17.1 GrowlncA m 23.94 +.06 +22.9
GlobAlcC m 18.35 +.01+15.3 CapAprA m 41.05 +.15+19.1 Vanguard
Calamos CpApHLSIA 58.67 +.24 +21.6 500 140.76 +.21+22.5
GrowA m 59.03 +.43+10.6 DvGrHLSIA 25.04 -.01 +26.3 500Adml 140.78 +.21+22.6
Columbia JPMorgan AssetA 30.94 +.04 +21.7
AcornZ 33.02 +.32+20.0 IntrAmerS 30.52 +.08+23.6 EmerMktld m27.32 +.14 +30.0
DFA Janus Ene 7374 +54+243
EmgMktVal 39.06 +.28 +46.1 Contrarian 19.86 +.10 +37.3 Energy 73.7428 +3249
IntlSmCap 23.74 -.04 +28.5 GrowInc 41.94 +.19 +15.9 Europeldx 40.28 -.23 +32.9
IntlValu 26.06 -.09+33.2 Janus 31.23 +.09+21.5 Explr 82.56 +.80+15.1
USLgVal 27.88 +.04+24.6 MidCapVal 26.38 +.13+23.3 Extndldx 42.52 +.42+19.7
USSmVal 31.78 +.29 +17.6 Overseas 52.49 +.44 +40.7 GNMA 10.16 ... +6.6
OWS-Scudder Twenty 60.64 +.22 +26.6 GNMAAdmI 10.16 .. +6.7
DremHRtEA m54.05 +.19 +22.0 John Hancock GIbEq 25.72 +.01 +27.6
Davis ClsscValA m 29.89 -.01 +22.3 Growthldx 32.19 +.07 +18.5
NYVentA m 41.62 +.11 +22.0 LifBal b 15.17 +.03 +16.9 HItCrAdml 66.07 -.12 +20.5
NYVentC m 40.03 +.09 +21.1 LifGrl1 b 15.82 +.05 +18.4 HIthCare 156.52 -.28 +20.4
NYVentY 42.12 +.10+22.3 Julius Baer Instldx 139.72 +.21+22.6
Dodge & Cox IntlEqA b 47.13 -.16+29.1 InstPlus 139.73 +.22 +22.7
Bal 91.44 +.13 +16.6 IntlEqI 48.16 -.17 +29.4 InstTBdld 50.13 +.03 +6.7
Income 12.65 +.01 +7.1 Legg Mason InstTStPI 33.25 +.11 +22.3
IntlStk 48.40 +.06 +25.1 Valuelnst 86.94 +.83 +21.0 IntlGr 26.27 -.16 +25.7
Stock 164.53 +.27 +21.5 ValuePr b 77.89 +.74 +19.8 IntlVal 44.26 -.16 +24.7
Excelsior Longleaf Partners LifeCon 17.32 +.02 +14.1
ValRestrA 59.61 +.37+24.6 LongPart 37.76 +.16 +20.4 LifeGro 25.74 +.04 +20.9
Fidelty Loomis Sayles LifeMod 21.66 +.04 +17.6
AstMgr50 16.96 +.04 +13.8 Bondl 14.80 +.05 +12.8LifeMd 2.66 +04+17.6
Bal 21.09 +.07+18.0 Lord Abbett MidCp 22.04 +.11 +21.6
BIChGrow 47.35 +.13+14.9 AffiliatA m 16.16 ...+18.5 Morg 20.66 +.09+18.9
CapApr 29.40 +.12 +15.6 MidCpValA m 24.62 +.08 +25.1 MulntAdml 13.24 -.01 +4.9
CapInc 9.27 +.01 +15.9 MFS Pacificld 13.08 ... +9.0
Contra 69.89 +.23 +17.0 TotRetA m 17.13 +.05 +17.3 Prmcp 74.09 +.09 +16.5
DiscEq 32.36 +.09+24.4 ValueA m 29.28 +.09+25.3 PrmcpAdml 76.93 +.09+16.7
DivGrow 34.15 +.07 +21.5 Morgan Stanley Insti REITIdx 24.91 +.19 +24.4
Divrlntl 40.69 -.08+22.7 IntlEqA 22.32 -.11 +22.2 STCor 10.56 ... +5.9
EqInc 62.87 +.08+25.3 akmark STGradeAd 10.56 ...+6.0
EqInc II 25.41 +.04+21.2 Eqncl 28.07 +.03 +17.5 SmCapldx 35.70+.39+18.6
FF2040 9.99 +.03 +19.7 Intl I 27.89 -.17 +25.1 Star 22.26 +.03 +16.1
Fidelity 39.27 +.11+22.3Oakmark I 49.37 +.02 +22.1 StratgcEq 26.34 +.18 +20.4
Free2010 15.1 +.04 +14.2 Select I 35.67 +.11 +17.9 Tgtet2025 14.01 +.03 +19.5
Free2030 16.85 +.05 +19.2 Oppenheimer TotBdAdml 9.95 +.01 +6.8
Govtinc 10.01 +.01 +5.7 DevMktA m 46.47 +.30 +29.9 TotBdid 9.95 +.01 +6.7
GrowCo 75.85 +.75 +18.8 GlobA m 79.43 +.04 +20.8 TotBdInst 9.95 +.01 +6.8
Growlnc 33.09 +.04+17.1 MainStrA m 44.09 +.08 +21.7 TotlntI 19.47 -.04+25.
IntBond 10.25 +.01 +6.1 RocMuniA m 18.71 ... +7.9 Totlntl 19.47 -.D4 +25.
IntlDisc 41.68 -.01 +24.0 StrIlncA m 4.43 +.01 +12.1 TotStlAdm 36.87 +.11 +22.1
InvGrdBd 7.34 ... +6.8 PIMCO ToStlns 36.88 +.11 +22.1
LevCoSt 34.57 +30+31.2 AIIAssetl 13.03 +.03 +10.3 TotStldx 36.87 +.12 +22.0
LowPriStk 47.51 +.32+20.3 ComRIRStI 14.79 +.16 +3.5 Wellsl 22.57 .. +14.8
Magellan 93.35 +.30 +14.7 LowDrls 9.86 +.01 +4.5 Welltn 34.49 +.01+19.3
MidCap 33.51 +.23 +21.4 TotRetA m 10.30 +.01 +5.2 WelltnAdm 59.58 +.02 +19.4
OTC 44.72 +.29 +21.4 TotRetAdm b 10.30 +.01 +5.5 WndsllAdm 68.29 +.04 +26.4
Overseas 49.70 -.01 +24.2 TotRetls 10.30 +.01 +5.7 Wndsr 20.18 +.07 +23.1
Puritan 21.19 +.03 +18.9 Pioneer WndsrAdml 68.13 +.26 +23.2
Reallnv 35.74 +.20 +23.8 PioneerA m 52.35 -.03 +22.4 Wndsrll 38.46 +.03 +26.3
ShTmBond 8.85 +.01 +5.1 Putnam
USBdlndx 10.84 +.01 +6.7 GrowlncA m 21.69 +.05 +22.2 Western Asset
Value 90.72 +.53 +24.7 RiverSource CrPIBdIns 10.49 +.01 +8.5

YEST 8.25 5.22
PREV 8.25 5.22
WK AGO 8.25 5.27


Lehman Bros Bond ldx4.97 4.99 -0.02 A A A 5.25
Bond Buyer Muni Idx 4.68 4.68 ... A A A 4.82
Lehman US Inv Grade 5.45 5.41 +0.04 A A A 5.63
Lehman US High Yield 7.42 7.42 ... V V 8.23
Moodys Bond Index 5.49. 5.45 +0.04 A A A 5.92
Bank Index 117.91 118.06 -0.15 A A A 108.77
DJ Corp Bond 199.23 199.13 +0.10 V V A 185.41

Unleaded Gas (gal) 2.40 2.41 -0.41 +49.8
Crude Oil (bbl) 66.27 64.94 +2.05 +8.6
Gold (oz) 662.90 661.00 +0.29 +4.4
Platinum (oz) 1319.70 1326.20 -0.49 +15.8
Silver (oz) 13.06 12.93 +1.01 +2.0
Coffee (Ib) 1.12 1.10 +1.82 -11.3
Orange Juice (Ib) 1.65 1.66 -0.60 -18.0
Sugar (Ib) 0.09 0.09 ... -23.4.

Argent (Peso) .3251 +.0002
( r s Brazil (Real) -.5151 +.0050
Britain (Pound) 1.9702 -.0043
Canada (Dollar) .9218 +.0044
(fl Ij Chile (Peso) .001919 -.000000
Colombia (Peso) .000503 -.000000
Dominican Rep (Peso) .0313 -.0000
Euro (Euro) 1.3467 -.0038
Japan (Yen) .008233 -.000021
Mexico (Peso) .092877 +.000284
Uruguay (New Peso) .0420 +.0003


4 *

4, ..

-, .


'.'1 -s

I *: -
jrp : " .



C -

S -





6:30 AM 2:00 PM 10:15 PM With less ooze.

1_j_ _ _

__ ___

b z .q -.U




cers are

told to assess

regulatory issues

Tribune Business
B ahamian compli-
ance officers have
Seen urged not to
S.-. just focus on anti-
money laundering, but also
regulatory compliance.
Tanya McCartney, immedi-
ate past president of the
Bahamas Association of Com-
pliance Officers (BACO), said
anti-money laundering com-
pliance may well be embod-
ied in the concept of regulato-
ry compliance.
"Today, we must take a
holistic approach to the man-
agement of compliance
because money laundering is
not the only activity that pos-
Ses a risk to a financial institu-
tion," she said.
'Ms McCartney highlighted
eight key points in the proper
management of compliance
risk: liaison with regulators,
risk assessment, control design
*and oversight, training and
education, compliance and
execution, monitoring and
testing, issues tracking and
Officers should assign a risk
to the activities that they are
-monitoring to ensure they
have a clear picture of their

"Today, we must take a
holistic approach to the
management of compliance
because money laundering
is not the only activity that
poses a risk to a financial

Tanya McCartney, immediate past
president of the Bahamas Association
of Compliance Officers

institution's exposure, Ms
McCartney said.
She added that although
the institution will always own
the risk, and is ultimately
responsible for determining its
risk appetite, "compliance
must always be the watchful
eye, reminding of the laws,
regulations, international poli-
cies and controls to ensure
that the strategic objectives of
the business are met, but
always within legal parame-

Ms McCartney explained
that where risk management
draws the map, identyifng risk
indicators and assessing the
level of risk, outlining the
safest and most efficient route
to achieve the desired result,
compliance is the backseat dri-
ver that ensures the business
stays on the right course and
does not fall foul of the rules.
Ms McCartney's comments
came at a Bahamas Institute
of Financial Services seminar .
last week.


The following vehicles have been in the vehicle compound at the Lynden Pindling International Airport for
over a year and remain unclaimed. Owners will have until May 31, 2007 to claim and remove their vehicles
after which time the vehicles will be sold or scrapped. Anyone claiming a vehicle must contact NAD at the
address below prior to May 31, 2007, provide proof of ownership and pay towing and storage fees,

Anyone wishing to purchase any of the vehicles which remain unclaimed after May 31st are asked to
submit a sealed bid to the address below also by May 319, Any sale of vehicle is based on 'as is' and
'where is' condition. Neither the Nassau Airport Development Company Limited nor the Airport Authority
assumes any liability or responsibility for the condition of purchased vehicles. Purchasers will have 48
hours to remove the vehicles from the compound.

Vehicles can be viewed between noon and 2:00pm on Wednesday May 23rd or Thursday May 2411 at the
compound located beside the parking exit booth for Terminal 1 (domesticlinternational) parking,

Black Nissan Sentra

White Chevrolet

Maroon Plymouth
Voyager Van

Gold Toyota Yaris

White Suzuki

White Toyota

Grey Dodge

Blue Chevrolet S10

License # 46537

License #145716

License # 152373

License #158125

License # 107103

License # 2111

License # 43808

License # T 24519

No Disc

Lionel Wilson

No Disc

Rose Marie Sawyer

No Disc

No Disc

No Disc

James Morley


Very Poor One Year

Very Poor- One Year

Fair- Two Years

Fair One Year

Poor- Four Years

Very Poor -Damaged

Poor -Three Years

Fair One Year

Nassau Airport Development Company Limited
Attn, Parking & Ground Transportation
P.O. Box AP-59229
Lynden Pindling Intemational Airport
Nassau, Bahamas
TEL. # (242) 377-0209 FAX. # (242) 377-0294



CORAL HARBOUR BASE (RBDF) The Royal Bahamas Defence Force is
presently conducting a Recruitment Exercise. Applications can be obtained at
the Ministry of National Security 3rd Floor of the Churchill Building, Rawson

The deadline for submission of Applications is 25th May 2007. Commence-
ment date for training of successful applicants is scheduled for August 2007.

Applicants Should:
* Be a Bahamian Citizen
* Be between the ages of 18-25 years
* Possess a minimum of (5) BJC's or equivalent including Math and English
with 'C' passes or above.
Obtain two Character references and a Police Character Certificate.

Applicants are required to be successful in all the following:
A Psychometric Evaluation
Recruitment'(written) Examination (Math, English and General Knowledge)
Physical Fitness and Swimming Tests
Vetting Assessment and Medical Examination
Interview Assessment

Emphasis for recruitment will be placed on candidates with:
Strong Character and leadership qualities
Desire to maximize potential in a disciplined environment
Willingness to spend time at sea
Willingness to conduct tour of duty at satellite base on a Family Island or
outside the Bahamas.
Good Academic background
Proficiency in a second language
Proficiency in a musical instrument

Interested persons may contact:

Lieutenant Commander Gaye Major
Personnel & Recruiting Officer
Defence Force Headquarters
P.O.Box N-3733
Coral Harbour, New Providence

P.O. Box, F-42654
Freeport, Grand Bahama, Grand Bahama Island, Bahamas
Telephone: 242-373-9550-Fax: 242-373-9551
An upscale boutique resort featuring 93 elegant suites and 89 hotel rooms
overlooking Bell Channel Bay, Port Lucaya and Grand Bahama Yacht Club.


Pelican Bay At Lucaya seeks to employ dynamic energetic and
enthusiastic individuals who enjoy working in the Hospitality
Industry for the following position;

If you have extensive experience in Hotel Reservations Sales
Systems, then this is a great career opportunity for you. The
following is required:

At least three (3) years experience in supervision and training
of reservations sales staff.
Familiarity with Epitome (PMS) System and (HIS) preferred.
Knowledge of constructing Rates, Packages, Promotions,
Advertisement, and Reservation.
Knowledge of Yield Management.
Good written and oral communication and computer skills,
along with strong attention to detail, organizational skills and
Flexibility in work hours.

Minimum qualification requires; Associate Degree in Business
Administration or equivalent

Applications are available at the Security Gate or e-mail:
Deadline is May 25, 2007.
Application in writing only.


TUESDAY, MAY 22,'2007, PAGE 5B



PAGE 6B. TUESDAY, MAY 22, 2007

Multi-million investments depend on port decision

FROM page 1

,announcement, saying any deci-
'sion would be made in the best
interests of Bahamians.

He added that the proposed
port was not included in the
briefing notes left by the for-
mer government, and its relo-
cation would depend on its
"economic and financial viabil-
ity", according to a statement

Legal Notice



(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in disolution, which commenced on the
18th day of May 2007. The Liquidator is Argosa Corp.
Inc., RO.Box N-7757 Nassau, Bahamas.


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

Legal Notice

(No.45 of 2000)


Notice is hereby given that in accordance with Section 137 (4)
of the International Business Companies Act (No. 45 of 2000),
- JARGON PRODUCTIONS LIMITED has been dissolved and
' struck off the Register according to the Certificate of Dissolution
^ issued by the Registrar General on the 10th day of May, 2007.

Hugh Alan Durell
1st Floor, 17 Bond Street,
St. Helier, Jersey

issued by his office.
Relocation of the shipping
facilities from Bay Street to
Clifton is seen as critical to revi-
talising downtown Nassau and
Bay Street, and effecting the
transformation of the har-
bourfront between Arawak Cay
and Fort Montagu.
Tanya Wright, the Bahamas
Chamber of Commerce presi-
dent, told The Tribune: "The
issue is much larger than an
issue for the shipping compa-
nies, the people who own the
land and the Bay Street mer-
"The plan means greater
access to, and chance for diver-
sification, of this important busi-
ness district that plays such a
significant role in the economy
of the Bahamas. That means
more business opportunities
and better diversification of the
true benefits of the Bahamian
"The plan would mean much
less congestion for road users,
and the free flow of pedestri-
ans and vehicles, and give pre-
sent and future merchants on
Bay Street a better chance of
"Either way, the survival and
renovation of downtown is for a
large part, dependent on the
relocation of the container port

Former Prime Minister Perry
Christie has accused Mr Ingra-
ham of influenced by the
"demands of certain special
interest groups that heavily
financed the FNM's election
campaign" not to move the
shipping facilities from the
downtown area.


Mr Christie did not identify
who he was talking about, but
among the major landowners in
downtown Nassau, who effec-
tively act as landlords for the
shipping companies, are the
family of Deputy Prime Minis-
ter Brent Symonette, Bethel
Estates and the Kellys.
Sources close to the situation,
though, said Mr Symonette
understood the need for the
shipping facilities to move from
downtown Nassau for the
greater good of the Bahamas.
However, Bethel Estates was
said by sources to, be less keen,
given the significant revenues
and income it earns from the
shipping facilities.
Elsewhere, the investors
behind the Albany project have
already signed a Heads of
Agreement with the Bahamian
government, something that will

A well established Media Company is
looking for a hard working male

to work as a Pressroom Assistant.
Qualified applicants should be able
to work nights between the hours of

8p.m. to 5a.m. and be prepared to

submit job references and clean police


Interested persons should

send resume to:

c/o DA 18973P

P.O. Box N-3207


Fax: 328-2398

be honoured by the Ingraham
The proposed revitalisation
for South Ocean, though, while
approved in principle by the for-
mer government, does not have
a signed Heads of Agreement,
meaning that this is another
investment project the FNM
administration will have to con-
The Tribune previously
reported that Albany has been
projected to have a $1.4 billion
value over the active life of the
development, and an indepen-
dent economic assessment con-
ducted by a firmnselected by the
Bahamian government showed
it would inject a cumulative $1
billion in extra gross domestic
product (GDP) into the
Bahamian economy over its
first 12 years in existence.
The independent economic
study on Albany had shown
that 700 permanent, full-time
jobs would be created, with
another 400 "indirect and
induced" from entrepreneurial
ventures and spin-offs.
The study also forecast that
Albany would generate $67 mil-
lion in annual GDP from oper-
ations in 2017 alone.
The investors behind Albany
are the Tavistock Group, the
holding company for worldwide
investments made by Lyford
Cay billionaire Joe Lewis, and
world-leading golfers Tiger
Woods and Ernie Els. The Tavi-
stock Group owns and devel-
oped Old Fort Bay in north-
western New Providence.

As for South Ocean, its rev ."
talisation is projected to gener-
ate 1,358 full-time jobs when
fully open, in addition to 1,200
direct construction jobs during
peak build-out.
Roger Stein, of RHS Ven-
tures and the project's manag-
ing director, said that a draft
economic impact study pet-
formed for the South Ocean
project by Oxford Economics
had projected that the develop,
ment, scheduled to open in 201Q-
with construction hopefully
beginning this year, would inject
$172 million in visitor spending
into the Bahamian economy
during its first full operational ',


Hard construction spending,
which would involve the con-,
struction of new buildings antd
renovations to others, would
total $541 million by 2015, with
the total investment by Mr
Stein, RHS and their partners
via the New South Ocean
Development Company reach-
ing $867 million by that year., -
The $541 million construction.'
spending had been forecast to
inject $217 million into the
Bahamas' GDP over nine years,
and generate $105 million in
wages. On the operational side, '
South Ocean was forecast tO,.
produce a $3.7 billion GDiP'
impact over its first 20 years,'
generating $1.5 billion in direct
wages and salaries for its

E s


Trade them for next year's TEXTBOOKS
Or make them available for next year's

Call or Visit our offices

Tel:(242) 394-4949 East Bay Street
P.O. Box N-3050 Nassau, Bahamas
E-mail: shopkeeper@stopnshopbahamas.com
Website: www.stopnshopbahamas.com






Road to City Dump after Premix



NOTICE is hereby given that JEAN-NOEL MESIDOR
BAHAMAS, is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 15th day of
MAY, 2007 to the Minister responsible for Nationality and
Citizenship, P.O.Box N- 7147, Nassau, Bahamas.


NOTICE is hereby given that INDITANE FLORISMA OF
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 22nd day of May, 2007 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,

Bring them to

Pricing Information As Of:
Monday, 21 May 2007
;:. ,-''.. :..'ISXALL SHARE INDEX: CLOSE 1.771.10 / CHG 00 00 1%CHGO 00.00 / YTD 94.91 IYTD % 05.66
52wk-Hi 52wk-Low Securit y Previous Close Today's Close Change Daily Vol. EPS $ Div $ P/E Yield
1,85 0.54 Abaco Markets 1.18 1.18 0.00 -0.282 0.000 N/M 0.00%
1Q.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%
M085 0.70 Benchmark 0.85 0.85 0.00 0.129 0.020 6.6 2.35%
2i77 1.29 Bahamas Waste 2.77 2.77 0.00 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%
1.42 9.00 Cable Bahamas 10.42 10.42 0.00 0.949 0.240 11.0 2.30%
2.10 1.67 Colina Holdings 2.10 2.10 0.00 1,238.095 0.245 0.080 8.6 3.81%
f 4.31 10.60 Commonwealth Bank 14.31 14.31 0.00 50 1.152 0.680 12.4 4.75%
&.26 4.22 Consolidated Water BDRs 5.13 5.16 0.03 0.112 0.049 46.0 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%
'fI.18 10.50 Focol 17.18 17.18 0.00 1.657 0.520 10.4 3.03%
1405 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%
q.10 8.52 J. S. Johnson 9.05 9.05 0.00 0.868 0.570 10.4 6.30%
10.00 10.00 Premier Real Estate 10.00 10.00 0.00 1.167 0.600 8.6 6.00%
2 Flaoeity Over-The-Counter Securittee
52wk-Hi 52wk-L Symbol Bid $ Ask $ Last Price Weekly Vol. EPS $ Div $ P/E Yield
t4.60 12.25 Bahamas Supermarkets 14.60 15.60 16.00 1.234 1.185 12.6 8.12%
1'6.14 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%
S.......Colina Over-The-Counter Securities
4a 00 26 0ou ADAB .11 ,. 4: 00 J 1 .110 2 220 .'.'. .,, 19.4 0.00%
T4.60 14.00 Bahamas Supermarkets 14.60 15.50 14.00 1.234 1.125 12.6 7.71%
Q'.60 0.35 RND Holdings 0.45 0 55 0 45 0.021 0.000 26.2 0.00%
4 BISX Llsted Mutual Funds
S5wk-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 791.57 1 YTD 06.67% / 2006 34.47%
SA LL .= r l:.= 1 .C ,: I.-.2 = I .:........ ..:, r..f -.r.FET TE.Fr.. I C. ia month 1. month dividends divided by closing price NAV KEY
52wk-Hi Highest closing price in last 52 weeks Bid $ Buying price of Colina and Fidelity
5wk-Low Lowest closing price in last 52 weeks Ask S Selling prce of Collna and fidelity 4 May 2007
Previous Close Previous day's weighted pnce for daily volume Last Price Last traded over-the-counter price
Today's Close Current day's weighted price for dally volume Weekly Vol Trading volume of the prior week 30 April 2007
Change Change In closing price from day to day EPS S A company's reported earnings per share for the last 12 mths
4,ily Vol. Number of total shares traded today NAV Net Asset Value 30 April 2007
OIV $ Dividends per share paid in the last 12 months N/IM Not Meaningful
WPE Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index January 1, 1994 = 100 t" 30 April 2007
** 30 Anril 2007
*"* TO TRAPE.CALL; COLINA 242-502-7010 / FIDELITY 2-12-356-7764 FOR MORE DATA & INFORMATION C1.LL it-.- j .-- ".- ..,,>

,S E


-I I

TUESDAY, MAY 22, 2007, PAGE 7B


Bahamas firm

in data alliance

Banking System (IPBS), the
Bahamas-based provider of
specialist wealth management
software to the private banking
industry, has entered into a
strategic partnership with
QuoteMedia to provide real-
time market pricing for ebank-
irg, trading and the back
: .office.
Dave Shworan, chief execu-
tive of QuoteMedia, said in a
statement: "We are pleased to
be working with a proven sup-
plier such as IPBS. The addi-
tion of market and financial

data from Quote Media
ensures that IPBS clients will
be able to make superior busi-
ness and trading decisions."
Bruce Raine, founder and
president of IPBS, added: "We
listened carefully to the needs
of our customers and the mar-
ket, and this partnership is a
response to requests for a bet-
ter and more cost effective
solution to obtaining real-time
pricing and valuation data."
He added that as a modern
service accessed via the Inter-
net, with excellent technical
support, many clients who used

Bloomberg and Reuters for
back office market pricing and
corporate data will now access
this data from Quotemedia.
IPBS has integrated Quote-
media's proprietary data feeds
into its existing wealth man-
agement applications, provid-
ing updating real time infor-
mation as a subscription ser-
vice to IPBS customers.
By enhancing the IPBS solu-
tions for banking and trading
to use Quickmedia, customers
will benefit from up-to-date
and accurate market informa-

Farm's closure to cost $2m

FROM page 1

- higher prices, generating bigger
margins for the food retailers.
Mr Lowe yesterday said
many Bahamian consumers
appeared to now be going back
to Bahamian-produced eggs,
which were cheaper, "but it's
too little, too late".
He added that Sunshine
Farms had already taken the
decision to close in October
.2006, and had sold 18 acres of
-is land on February 1, 2007.
He described the problems
the company had faced as "a
t~attle that has been going on
for years" across successive PLP
and FNM administrations, and
wvas part of a wider picture that

FROM page 1

Appeal judgement."
Mr Smith has also written to
the developer's attorney,
Michael Barnett at Graham,
Thompson & co, over the
undertaking he gave to produce
copies of all permits, licences
and approvals that Discovery
Land Company had received
for its activities on Great Guana
Mr Smith is seeking a full
c py of the Heads of Agree-
mint signed with the Govern-
ment, and any addendums,
at4nexes and supplements to
this; copies of communications
.. between Discovery Land Com-
py and all central government
Saencies; copies of the Envi-
ronmental Impact Assessment
(EOIA) and Environmental Man-
agement Plan (EMP); copies of
correspondence with the Hope
Tewn District Council; and
Copies of any papers relating to
th Crown and Treasury land
involved in the development.
A letter seeking similar doc-
uments, to aid the Association's
discovery, has also been sent to
-the Attorney General's Office.



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

had left Nassau-based manu-
facturers "in the hole".
Mr Lowe described the
impact on food self-sufficiency
in the Bahamas as "the bottom
line" behind Sunshine Farms
closure,, adding: "It's just anoth-
er Bahamian-owned company,
another Bahamian-started com-
pany, that's going down."
Larry Feingold, proprietor of
Nassau-based Rainbow Farms,
said yesterday that between his
company and the Grand
Bahama-based Sunshine Farms,
owned by Greek-Bahamian
entrepreneur, Minas Var-
daoulis, they could meet all the
Bahamian market's demand for
Yet there were "too many
foreign eggs coming in". While
Bahamian large and extra large

12-packs of eggs sold for $1.65
and $1.70 respectively, imports
such as Egglands Best were sell-
ing for $3.05 per case in many
food stores.
"The reason that people are
buying them [despite being
more expensive] is that some
food stores don't put the local
eggs on the shelf," Mr Feingold
said of the reasons why foreign
eggs seems so popular.
"They put foreign eggs on the
shelf because they can make
more from them, as the local
ones are price controlled.
"It's a tough situation,
because on one side ypou have
people saying let's do more in
agriculture, and on the other
hand there's a surge of imports
coming in and no one's stop-
ping that."

NOTICE is hereby given that FRITZ NELSON OF
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 22nd day of May, 2007 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,

is looking for

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

aIakfe'l jap
GO$f 6" OCAKN Cil

Great Guana Cay, Abaco
The Bahamas

Employment Opportunity

The successful candidate will meet the following requirements:

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

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

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

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

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

Ministry of National Security

GN 511

IPolice Department

Re: Traffic Press Release Notice
Opening of Parliament, Rawson Square
Wednesday, 23rd May 2007 at 10:00am ,


On Wednesday 23rd May 2007 at 10:00am Parliament will re-open in
Rawson and Parliament Squares Bay Street.


From 6:00am until after the ceremony at Rawson Square, the following streets will
be closed to vehicular traffic:-

0 Bay Street between Frederick Street and East Street.
0 Charlotte Street between Shirley Street and Woodes Rodgers Wharf
0 Parliament Street Between Shirley Street and Woodes Rodgers Wharf.
0 Bank Lane between Shirley Street and Bay Street.


From 6:00am until after the ceremony, no vehicles will be permitted to park
on the following streets.

* Bay Street between Frederick and East Streets Both Sides
* Parliament Street between Woodes Rodgers Wharf and East Hill Street Both Sides
* Bank Lane between Shirley and Bay Streets Both Sides
* East Street between Shirley Street and Woodes Rodgers Wharf Both Sides
* Woodes Rodgers Wharf between East and Frederick Streets Both Sides

From 6:00am on Wednesday, 23rd May, 2007 vehicular traffic traveling east along Bay
Street will be diverted north and south along Frederick Street, Vehicular traffic wishing to
continue east along Bay Street, must travel east along Woodes Rodgers Wharf to East Street,
south along East Street to Bay Street and then east along Bay Street.

Parking for Cabinet Ministers will be provided in the Cabinet Office Parking lot, and
for Members of Parliament and Senators, parking will be provided in Bank Lane.

Paul H. Farquharson, QPM
Commissioner of Police


Invites applications for the position of


Responsibilities will include (but are not limited to):

Maintaining and developing a robust compliance and control regime in Deltec to
ensure compliance with all relevant laws, regulations, guidelines and internal
policies and procedures
Developing, administering and implementing a stringent compliance program that
monitors and reports on key risk indicators
Implementing a comprehensive self-testing program that is derived from risk
Reviewing KYC documentation for all new and existing clients
Advising and assisting with the training of staff in regulatory and internal policy
compliance requirements
Reporting to Executive Management, Board of Directors and Group Compliance
Ability to work independently and under pressure to meet deadlines
The successful candidate should have the following qualifications:

A thorough knowledge of all applicable legislation, regulations and guidelines
Minimum Bachelors degree in banking or finance along with either CPA, ABIFS
(formerly ACIB), or International Diploma in Anti Money Laundering and
Compliance (BACO)
Legal background would be an advantage
Minimum 3-5 years relevant experience in the Compliance field
Excellent written, oral and presentation skills

Salary will be commensurate with experience.

Interested persons may submit resumes as follows:

Human Resources Manager
Deltec Bank & Trust Limited
P. O. Box N.3229
Nassau, Bahamas

Resumes may also be faxed c/o 362-4623 or emailed to anh(d)deltecbank.com.



a I




Due to the Whit Monday Holiday the

Betty K will receive freight on

Tuesday May 29th and Wednesday

May 30th for Marsh Harbour,

Abaco at our receiving

Palmdale Depot.

Arriving Thursday Mat 31st Marsh Harbour

Betty K apologizes for any inconvenience

For further information please

contact your customer service


Betty K Agencies
Nassau East Street North Kelly Dock
Ph: 242 322 2142

Miami 3701 NW South River Drive 33142
Ph: 305 635 4650

Marsh Harbour Abaco Don Mackey Blvd.
Ph: 242 367 0593


can t dictate

room rates

to investors

Tribune Business

what their hotels
and resort product
should be, the Bahamas Hotel
Association's president, Rus-
sell Miller, told Tribune Busi-
ness yesterday, although he
acknowledged that this nation
was generally perceived as a
very expensive destination.
Mr Miller's comments came
in response to comments
made by the new tourism min-
ister, Neko Grant, who said
last week that ministry offi-
cials were concerned that the
Bahamas could be pricing
itself out of the market as a
result of the relatively high
room rates its hotels charge
compared to rival global des-
tinations. "
Mr Miller said he could not
comment specifically on Mr
Grant's comments regarding
room rates because he had not
heard them, but acknowl-
edged that the Bahamas did
have the perception of being a
very expensive destination.
He said the Bahamas need-
ed to continue to be competi-
tive, and one way to do this

was to examine import taxes
and mark-ups on tourism-
related products.
Mr Miller added that many
first-time visitors were slightly
shocked when they realized
the price of some items, par-
ticularly if they were staying
in a timeshare or condo and
had to purchase basic necessi-
ty items.
While the Bahamas does
have a reputation of being a
luxury destination, he felt
there was "a fairly good range
of hotels and prices for our
visitors to make their selec-
tion", he said.
Mr Miller added that as a
destination, the Bahamas can-
not stipulate to an investor
whether they should cater to
low, middle or high income
guests via room rates.
The Bahamas has targeted
the high-spending end of the
tourist market with its hotel
industry product, looking for
relatively high-earning, quali-
ty tourists who are likely to
turn into repeat visitors and
purchase real estate in this
nation, either through time-
shares, fractional ownership,
condotels or second homes.
However, the high-end
tourist market is relatively
small, and numerous rival des-
tinations are now competing

with the Bahamas for this .
business. Room rates in othef
Caribbean destinations, such
as Cuba and the Dominican
Republic, are much lower than
in the Bahamas, making them
more attractive to Canadian .
and European tourists. -
Operating costs for hotels
in the Bahamas are mucf
higher than for their counter-.
parts elsewhere in the
Caribbean and US, meaning..
operators and owners have to,'.*.
charge high roqm rates to6.-'
enable them to earn a return
and profit on their investment.
Yet these higher room rates
an only be justified to guests
by providing a five-star plug
experience that 'blows the cus-
tomer away', a la Kerzner
International International'g
Atlantis product. ,
Consequently there have,
been calls for the Bahamas."
to develop mid priced resort',
options, as happened when
Baha Mar was negotiating its
$2.4 billion Cable Beach
development. The bottom line
is that the Bahamas has t.o'
deliver a superb visitor expej
rience to justify the relatively
high room rates it charges,
exceeding tourist expectations
through service quality and
other factors if it is to remain

S simply not having to worry about the future

I can say thiht I havebeen very successful."

-.pk.,lt r experts about our Chequing & Savings Accounts, Fixed Deposits, SureStart and our
1ncome: Escalator, plus get the best Insurance advice.

Success... Solved.






PAGE 8B, TUESDAY, MAY 22, 2007

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