The Tribune.
Full Citation
Permanent Link: http://ufdc.ufl.edu/UF00084249/02914
 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: 6/12/2007
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_02914
System ID: UF00084249:02914

Full Text

A1 4A d


I'm lovin' It.



Volume: 103 No.166



TUESDAY, JUNE 12, 2007




3-I AA~ 3E mmA


Man in court over two

bodies found last week

A MAN, 33, was arraigned in
Magistrate's court yesterday,
charged with two murders. The
body of a man and a woman were
found last week on a remote farm
off Cowpen Road.
Hilfrant Frangois Joseph, alias
* Alfred Joseph of Carmichael
Road, was arraigned before Chief
Magistrate Roger Gomez at
Court One Bank Lane yesterday,
charged with the murders of
Denise Clarke, 42, of Market
Street, and Livingston Johnson
also 42 of Cowpen Road.
Clarke's body was discovered
early last Thursday morning sub-
merged inside a burgundy
coloured GMC truck, which was
tipped on its side in the shallow
waters of Bonefish National
According to reports, Clarke
had bruises on her face and her
upper body was bound by a sheet.
Later that day a police sniffer
dog reportedly led investigators to
Johnson's body, which was inside
an unfinished building about a

was discovered. Johnson had
been brutally stabbed and had
multiple chest wounds.
According to court dockets,
Joseph, sometime between Tues-
day, June 5, and Thursday, June
7, intentionally caused the death
of Denise Clarke.
Another charge read that the
accused, between Wednesday,
June 6, and Thursday, June 7, also
intentionally caused the death of
Felix Johnson.
Joseph, who is listed on court
dockets as a Bahamian, is repre-
sented by lawyers Murrio Ducille
and Tamara Taylor.
Inspector Don Bannister
appeared on behalf of the prose-
cution yesterday.
Joseph was not required to
plead to the murder charges.
The case was adjourned to 10
o'clock this morning and trans-
ferred to Court 11, Nassau Street,
where a date will be set for the
commencement of a preliminary
According to prosecutors,
Joseph was on bail in connection
with a 2002 murder before

* HILFRANT Francois Joseph at court yesterday. He has been charged with the murders of a man
and a woman whose bodies were found off Cowpen Road last week
(Photo: Tim Clarke/Tribune staff)

quarter mile across the farm trom being cnargea witn mthe recent i
the location where Clarke'sbody offences. Human rights campaigner: don t

FNM vice-chairman: contesting mess with freedom of expression
seatS may be detrimental to PLP By ALISON LOWE "punishing" media outlets that publish "biased

Tribune Staff Reporter
CONTESTING seats in court may highlight the PLP's "botched" prepa-
rations for the general election and result in being detrimental to the par-
ty, Johnley Ferguson, vice-chairman of the FNM said yesterday.
Mr Ferguson told The Tribune yesterday that the PLP's action of con-
testing five seats amounts to challenging the entire process of the 2007 gen-
eral election.
The FNM's vice-chairman warned that the election court could bring to
light the PLP's mismanagement of the preparation process for the gener-
al election.
"In filing these (cases) they are challenging the process, but they are the
ones who did things like put half of a polling station in one constituency and
SEE page seven

Tribune Staff Reporter

"DON'T mess with freedom of expression or the
generous breadth that should be given to the media
to express dissenting views."
This was the message yesterday sent by attorney
and founder of the Grand Bahama Human Rights
Association Fred Smith to Philip Davis, PLP MP for
Cat Island, Rum Cay and San Salvador, in response
to Mr Davis' recent suggestions of the possibility of

Mr Davis suggested in the House of Assembly
on Friday that, in response to "assaults" on the gov-
ernment, "which...creat(ed) a sense of the negative
with respect to the Christie administration," public
funds in the form of government advertising -
could be withheld from certain media outlets.
"Why should public funds be given to the media
SEE page seven

I yi m ca pi I i 1PIc 1 1 i do

RECEIVING a $20,500 cheque to purchase a complete dialysis
unit donated by Max Julien, proprietor of Cowpen Building Supplies are
(I-r) Mark Roberts, Tile King and FYP Ltd, Garry Julien, manager,
Cowpen Building Supplies, Adriel Julien, secretary of Cowpen Building
Supplies, and Robert Dupuch-Carron of The Tribune/Tribune Radio.
(Photo: SD Moore/Tribune staff)

LESS than two hours after
Tile King, The Tribune and
its affiliate radio stations, 100
FM, went on the air to
launch its $164,000 appeal
for dialysis machines for the
Princess Margaret Hospital,
a full dialysis unit was donat-
ed by a caller. A second
donation towards the pur-
chase of a second machine
soon followed.
Shortly after Mark
Roberts of Tile King and
Sean Moore of The Tribune
launched the appeal yester-
day morning on the Eric and
Ed.show on Cool 96. fol-
lowed by Kevin Harris' show
on Joy FM, Mr Max Julien,
proprietor of Cowpen Build-
ing Supplies, wrote out a
$20,500 cheque in memory
SEE page seven

New Minister of
Tourism clashes
with Wilchcombe
in the House
Tribune Staff Reporter
THE current and former min-
isters of tourism squared off yes-
terday in the House with Neko
Grant accusing Obie Wilchcombe
of recklessly handing out con-
tracts under his watch an alle-
gation Mr Wilchcombe vehe-
mently denied.
In his budget contribution Mr
Grant told the House that "the
former minister handed out con-
tracts and hired consultants like
Santa would hand out candies
and embrace children at a Christ-
mas party."
Mr Grant used as an example a
$12,000 per month contract
signed by the ministry on Decem-
ber 13, 2006, with a management
group, which was to assist the
ministry in planning and market-
ing activities relating to sports.
Though not naming the group
or people involved with the con-
tract, Mr Grant questioned the
credibility of the contractor, sug-
gesting that the contract was
nothing more than a political
SEE page seven

Body of man
missing at

sea is found
Tribune Freeport Reporter
FREEPORT The body of a
man, reported missing at sea, was
discovered Sunday in deep water
off East Grand Bahama.
Clarence Thomas, a 26-year-
old resident of McCleans Town,
warf found by a local diver sub-
merged in about 40-ft deep water
about three and a half miles south
of McCleans Town around
According to reports, Thomas
was lying on the bottom of the
sea with his spear still clenched in
his hand.
It is believed that the victim
may have drowned while spear
Sometime around 12.11pm on
Sunday, police at the Lucaya
Police Station received a report
from Nurse Rachel Rolle at the
McCleans Town Community
Clinic, who reported that a diver
was missing at sea after failing to
SEE page seven





P fIE1 -5








PAGE 2. TUESDAY. JUNE 12, 2007

About the speaker's salary

and size of the new Cabinet

0 In brief

Judge denies
bail for three
suspects in
JFK 'plot'

A FEW months r
ago a PLP
friend suggested I was
wasting my time writing
about how our system of
government is supposed
to work, particularly how
ministers of government
are expected to behave,
and the rules and con-
ventions they are expect-
ed to honour. Nobody
was listening, he said.
He was obviously
right, up to a point,
because some ministers
in the previous adminis-
tration continued to
abuse the system and to
act as if they had no idea
of what was expected of
them as ministers, or as if
they simply did not care.
Sometimes politicians
get good advice from
those they regard as
opponents, and for that
very reason the foolish
ones can be counted on
to ignore it.
Back in the days the
PLP used to be severely
criticized by Sir Etienne
Dupuch, and more than
once decided not to do
the right thing just
because Sir Etienne had
suggested it. On one
occasion Sir Etienne told
them how to go about an
election case against the
UBP. They did just the
opposite and were thrown out
of court.

P erry Christie's adminis!
tration was terminated
in the recent election, and no
doubt that very attitude con-
tributed to its demise. In their
arrogant presumption of enti-
tlement, some rode roughshod
over the constitution, the rules





and conventions of cabinet gov-
ernment and their own code of
The process of public educa-
tion about how we are governed
must continue so that any
debate about how we can make
better use of the system, or
make changes in it, will be
Judging from some of the
comments on radio talk shows


10.6988 10.8217a
10 10.18720

9 0 9.2014


5 -----------


3 -----------


and even in the print
media, we still have a
long way to go. Some
people who advocate
one change or anoth-
er obviously have a
limited understanding
of certain aspects of
the system and what it
can or cannot accom-
One big temptation
is to suggest importing'
into our system fea-
tures of other systems
that are not compati-
ble. For instance, it is
easier to get rid of a
prime minister in a
properly functioning
parliamentary democ-
racy than it is to get rid
of a directly-elected
president in the Amer-
ican system.

Y et we still
hear some
S people complaining
that in our system the
head of government,
the Prime Minister, has
too much power. The
same people suggest
that we should have a
directly-elected head
S of government.
This will more than
S likely make the head
of government more,
not less, entrenched
than a prime minister
who is dependent on the sup-
port of a majority in Parlia-
ment and in his party. I keep
repeating that we have a very
short history of cabinet gov-
ernment, so we have to look to
older ones for precedents.
Margaret Thatcher was,
some say, the greatest prime
minister of Britain since Win-
ston Churchill. But when her
party thought she had become
too overbearing, they got rid
of her.
George Bush, some say, will
go down in history as one of
the worst American presi-
dents. Yet the Congress, gun-
shy after a botched attempt to
convict a popular president for
lying about a sexual affair,
seems unable to summon the
will to impeach Mr Bush for
misleading the country into a
disastrous war.

The new FNM Gov-
ernment is taking a-
significant step towards
upgrading the office of Speak-
er of the House of Assembly.
It has been foreshadowed as
a part of the budget exercise
that the salary of the speaker
will be increased from $62,000
to $80,000, and it is about time.
Qualified and ambitious
members of parliament have
in recent times shied away
from this office and instead
much preferred ministerial
In most cases those who
served in recent times did so at
great sacrifice to themselves,
because while they were not
restricted from doing business

or practising their professions
as are ministers, the duties of
the office have come to
demand full-time attention.
In the last term of the
House, the PLP majority
apparently had difficulty
attracting a top member, and
had to settle for someone who
seemed to be not suitable for

politicians get
good advice
from those
they regard as
and for that
very reason
the foolish
ones can be
counted on to
ignore it.

that particular office.
Speaker Alvin Smith is far
more qualified than his imme-
diate predecessor. Despite the
fact that he had sometimes
been the victim of some bad
decisions from the chair, Mr
Smith has the intelligence, atti-
tude and temperament to
make a good speaker.
The person who presides
over and is responsible for the
administration of the elected
branch of parliament is indeed
important to that foundation-
al institution and to the
whole society.

In Britain, the Speaker of
the House of Commons
is referred to as the First Com-

It is not easy
to construct a
poriolio .with
related matters
as there are
departments of
that can be
placed under
one ministry as
well as under

moner of the Land, carries the
title Right Honourable and is
paid a salary on par with that
of cabinet ministers.
The practice has also been
that, once elected, a speaker
resigns his or her party affilia-
tion and is unopposed in sub-
sequent national elections.
Because of our smallness we
cannot do that, but we can do
more to enhance the office of

speaker and shore up the inde-
pendence of parliament.
The Parliamentary Review
Commission appointed by
Prime Minister Hubert Ingra-
ham recommended precisely
that in its 2001 report. Sir
Clement Maynard and I co-
chaired the Commission, and
other members were Felix
Stubbs, Raymond Winder, Ish-
mael Lightbourn and Baswell
On the question of salary,
the Commission noted that the
speaker was not in receipt of a
House salary as were other
members, but instead received
only a lump sum salary of
$62,000. This was $34,000 less
than the total salary of a min-
ister who was also a member
of the House.
The proposed increase does
not close this gap. Nor does it
bring the speaker's salary up
to that of a minister of state
in the House ($88,000), but it
is a step in the right direction.
No doubt the new administra-
tion will also address other
issues raised in the Commis-
sion's report for the overall
development of parliament.

Despite complaints
that the FNM cabi-
net is too big, the fact is that
Prime Minister Hubert Ingra-
ham has effected a long-need-
ed rationalisation and reduc-
tion of cabinet portfolios, and
has reduced the number of
senior ministers from 16 to 12,
including the Prime Minister
who heads the Cabinet Office
and Office of the Prime Min-
ister (prime ministry), as well
as the Ministry of Finance.
It is not easy to construct a
portfolio with related matters
as there are departments of
government that can be placed
under one ministry as well as
under another.
For instance, it would seem
that Aviation can fit just as
well into the portfolio of the
Ministry of Transport as in
that of the Minister of
Tourism; and there will always
be a department or two that
do not seem to fit neatly any-
Some commentators have
sought to compare our cabi-
net with that of Britain, right-
ly pointing out that there are
only 23 ministers (most of
them styled secretaries of
state) in the British cabinet.
But that is only half the story.
These ministerial heads are
assisted by nearly a hundred
junior ministers, including
ministers of state and parlia-
mentary undersecretaries who
do not sit in cabinet. A secre-
tary of state, or senior minis-
ter, may be assisted by as
many as five junior ministers.
Because we are small, it is
not a bad idea that ministers of
state are allowed to sit in cab-
inet along with their seniors.


Your eledricty bill is made
up of the basic rate, which Is
constant and has not
changedsince 2003,
andthefuelsur. ge,wich
is based on the price of
pmretand In the cmuation
market and Is calculated

A JUDGE denied bail for
three suspects accused of plot-
ting to bomb New York's John
F Kennedy International Air-
port, ordering them on Mon-
day to remain in jail until a
hearing on a US request for
their extradition, according to
Associated Press.
The three men Kareem
Ibrahim, Abdul Kadir and
Abdel Nur smiled and waved
to about 20 supporters and
family members in the court-
room but did not speak. A son
of Kadir said FBI agents had
questioned relatives over the
Chief Magistrate Sherman
McNicols said he was denying
bail "given the nature and the
seriousness of the offense," and
ordered them to remain in jail
until an August 2 hearing on a
US extradition request.
The suspects, arrested this
month in the twin-island
Caribbean nation, are accused
of participating in a Muslim ter-
ror cell that planned to blow
up a jet fuel artery that runs
through residential neighbor-
hoods and feeds Kennedy air-
The alleged mastermind of
the plot, US citizen Russell
Defreitas, 63, is a Guyana
native who worked as a cargo
handler at the airport until
1995. He is in custody in New
US authorities claim the
alleged plotters unsuccessfully
sought support in Trinidad
from Jamaat al Muslimeen, a
radical Islamic group that
staged a deadly coup attempt
here in 1990.
Rajiv Persad, an attorney for
Kadir and Ibrahim, argued for
their release on bail, noting
they do not have criminal
records and that Kadir served
until last year as an opposition
legislator in Guyana's parlia-
"There is no evidence that
these men would abscond, giv-
en that they are solid members
of their communities," Persad
Defense attorneys said Kadir
and Nur, who are from
Guyana, have relatives in
Trinidad they could stay with if
granted bail. Ibrahim is from
Relatives and acquaintances
of the suspects have expressed
skepticism that they would be
capable of organizing an inter-
national plot.
"We know that the allega-
tions are all fabricated," said
Talibah Ali, a member of the
mosque where Ibrahim is a Shi-
ite cleric.
But Israel Khan, an attorney
who represented the US gov-
ernment at the bail hearing,
said, "You cannot look at a
person and say that he looks
like a terrorist or not. They
come in all fashions."
"There is evidence of con-
versations of them plotting to
carry out this offense," he
In court, Khan handed
defense attorneys pictures that
he said depicted Kadir and his
family carrying semiautomatic
weapons and handguns. He
offered to show them to the
judge, who replied, "I don't
need to see them at this stage."
Over the weekend, agents
from the US Federal Bureau
of Investigation accompanied
by local police interviewed two
children of Abdul Kadir in
Guyana, his son Salim Kadir
told The Associated Press on
"We were questioned by
about four FBI agents but we
have nothing to hide," he said,
adding that documents were
seized from the family's home,
though he did not provide
Abdul Kadir, 55, a former
mayor of Linden, Guyana, was
taken off a plane in Trinidad
and arrested as he prepared to
fly to Iran through Venezuela
to attend an international
Islamic conference.


12.1970. e tIC

I '




TUESDAY, JUNE 12, 2007, PAGE 3



In brief New cruise port tops plans



with illegal to stimulate Grand Bahama

FIFTY-TWO Dominican
men accused of fishing ille-
gally in the Bahamas were
arraigned in Magistrate's
court yesterday.
The men, who according
to court dockets were the
crew of the fishing vessels
"B/P-Orion-l," and "Anna
Luisa", were arraigned
before Magistrate Susan
Sylvester at Court 11 Nassau
Street yesterday.
They were charged with
illegal fishing, possession of
undersized crawfish, posses-
sion of fresh crawfish during
the closed season and pos-
session of prohibited appa-
ratus, namely spears and air
According to court dock-
ets, the accused committed
these offences on Friday June
6, 2007 off Ragged Island.
They all pleaded not guilty
to the charges and will return
to court at 2pm today, which
is when prosecutors are
expected to indicate whether
they will adjourn the matter
to a later date or proceed
with a trial.

leaders meet
for talks in


and ministers from around
the world on Monday gath-
ered in Sweden to informally
discuss the options and possi-
bilities of a new global cli-
mate agreement that would
replace the Kyoto Protocol
in 2012, according to Associ-
ated Press.
Representatives from near-
ly 30 countries including the
US, China and Indonesia -
had joined the conference at
Riksgransen, some 125 miles
north of the Arctic circle.
Sweden's Environment
Minister Andreas Carlgren
welcomed the informal dia-
logue as a way for activists
and officials to share views
without the pressure of writ-
ing policy or reaching agree-
"If you can get a picture of
a common vision and what
elements should be part of it,
you can support each other,"
Carlgren's spokesman,
Thomas Uddin, said.
At the Group of Eight
summit in Germany last
week, leaders from developed
countries agreed to draft a
new climate agreement by
Rajendra Pachauri, an Indi-
an climatologist and head of
the international climate
change panel, and Yvo de
Boer, executive secretary of
the UN Framework Conven-
tion on Climate Change, will
present the result from the
UN's climate panel during the
four-day meeting in Sweden.
The conference is the third
of its kind. The first was held
on Greenland in 2005 and the
second in South Africa in

Tribune Staff Reporter
MINISTER of Tourism Neko
Grant, yesterday elaborated on
the Government's plans to
reverse trends that have seen
tourism arrivals to the Bahamas
continue to decline during
2007's first quarter, placing sig-
nificant emphasis on the revi-
talisation of Grand Bahama
during his Budget contribution.
Mr Grant told the House that
the overall 0.9 per cent decline
in arrivals, and more specifical-
ly, a five per cent drop in those
by air, reveal a pattern that all
should "stand and take notice
of", especially as the stopover
market is responsible for 90 per
cent of total visitor expenditure
in the Bahamas.
According to statistics from
the minister, since 2004, when
five million tourists arrived in
the Bahamas, there has been a
continued decline in this indi-
cator. In 2005, there was a 4.5
per cent drop in arrivals to 4.8
million tourists, whereas in
2006, some 4.7 million tourists

Tribune Staff Reporter
THE public can expect to see
more officers from all ranks of
the police as the force expands
its neighbourhood and commu-
nity policing.
Yesterday Chief Supt Hulan
Hanna explained the direction
the force is taking yesterday as
he announced further transfers
in what is shaping up as a dra-
matic transition period for the
police, following the promise of
adjustments to Urban Renewal
from Minister of National Secu-
rity Tommy Turnquest.
Sixteen senior officers, rang-
ing in rank from Assistant Com-
missioner to Inspector, have
been transferred "laterally".
These include Asst Commis-
sioner Juanita Colebrooke, the
first female to attain that rank,
who will now take on responsi-
bility for complaints and disci-
pline, along with Chief Supt
Hanna himself, whose addi-
tional responsibilities will now
include working closely with
Asst Commissioner of police
Marvin Dames to implement
the new neighbourhood and
community policing model.
"We need to empty our sta-
tions, empty our offices of every
available rank, right from the
most senior person to the junior
officer who only recently
entered the organisation," said
Chief Supt Hanna.
Mr Hanna said the transfers
were part of a "strategic"
response to rising crime levels,
particularly against the person
and property in newly devel-
oped areas, and were the obvi-
ous next step in putting to best
use recently promoted officers.
In early May, Mr Turnquest
received enthusiastic applause
at police headquarters when he
indicated that community polic-
ing would continue but "not
necessarily in the same struc-
tural framework of the Urban
Renewal Programme."
Some commentators and per-
sons with involvement in the
programme interpreted his
comments as suggesting that

* NEKO Grant

came to the country.
Paralleling this fall in arrivals,
tourist spending too has
declined by 0.6 per cent
between 2005 and 2006, from
$2.069 billion to $2.056 billion.
The 10 per cent fall in nation-
al room inventory by the end
of the year results primarily

* JUANITA Colebrboke

officers would be taken "out of
offices and put on the streets".
Chief Supt Hanna revealed
that police had received many
complaints about a lack of
police presence in crime and
tourist hotspots.
The new policy will specifi-
cally seek to address this, he
said, adding that by being "on
the ground" in troublesome
zones, police will be better able
to anticipate and prevent
He said that if this increased
presence did not become a real-
ity, in a way that delivered pub-
lic satisfaction, the police would
"become irrelevant."
While he acknowledged the
Commissioner would have had
in mind Mr Turnquest's com-
ments when he designed the
transition, Mr Hanna said that
government influence over the

from the more than 1,300 rooms
out of service in Grand Bahama
- largely attributed to the pro-
tracted closure of the Royal
Oasis resort along with the
expected closure of the Nassau
Beach as a part of the Cable
Beach redevelopment project.
To reverse these trends in
Grand Bahama, some $8 mil-
lion will be spent by the
tourism ministry in the upcom-
ing fiscal year, on Grand
Bahama Island development
and promotions.
Most dramatically, Mr Grant
discussed the creation of a new
cruise port that can be con-
structed in as little as 24 months.
This ambitious project has the
potential, he said of doubling
cruise arrivals in the first year of
operation and tripling the same
arrivals within two years from
351,000 visitors to some 1.1 mil-
lion visitors.
The ministry also intends to
work with Harcourt to ensure
that construction starts at the
site by the end of the year cre-
ating work in this sector with
jobs becoming available in the

* HULAN Hanna

moves was "miniscule at best",
and then primarily linked to
He said: "The commissioner
does not necessarily have to act
at the minister's behest but
you're simply having an appre-
ciation for the direction in
which the government is head-
"If (the commissioner) wants
more cars he has to demon-
strate what he is doing with the
ones he has... you have to make
the case. There is a relationship
at that broad policy level," he
Speculation about political
interference in transfer and pro-
motion decisions has been
fuelled in previous months due
to the swiftness with which cer-
tain police officers were trans-
ferred in the pre and post-elec-
tion period.

tourism services sector by the
winter of 2008.
Cross marketing projects with
existing resorts represent the
third component of the min-
istry's overall plan of revitalising
Grand Bahama in the upcoming
fiscal year.

These initiatives for Grand
Bahama, Mr Grant said "rep-
resent the first phase priority
projects that will cause for the
rebound in economic activity
within a very short time frame
and revitalise the sector within a
two year period."


"Lowest Prices On The Island"

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




Donafd's furniture

And Appliance Centre

'More police on the streets' as

Urban Renewal changes course

For the special man in your life...

Select from our fabulous collection of
men's fashions and accessories


-MEN .

Harbour Green Shops at Lyford Cay
Telephone: (242) 362-6656
Bayparl Building, Parliament Street
- '"1efplione: (242)323-8240 *Tax: 1242) 326-9953
-'it" op *-Ij. Nassmu,. N.P.. Bahamas
e -mWinfp M0o .6fxiassau.com

Carpet, Upholstery, Stone and Marble Cleaning &
Restoration Specialist.
Prochem Cleaning Systems removes Deep & Heavy
Soil, Bacteria, Grease.Watermarks and Stains from
Carpeting & Furniture, restoring them to like new
at a fraction of replacement cost.
Carpet, Sofa's, Loveseats, Chairs, Dining Chairs, Cars,
Boats, Grout, Tiles, Marble & Stone
Persian, Wool & Silk Carpet Cleaning Specialist aai
Marble Polishing, Restoration & Care
Authorized StoneTech Professional Contractor
PHONE: 323-8083 or 323-1594
mw.prochemnsystemncom www.slonetecipro.coin www.iicrc or

. .~ ..:... ..... P1,2,3,5,6,7,8,10
S -................... ..........P4

I. ...;..........l. P 1,2,3,4,5,6,8
. ,.". . . . ... ."T". -, P7, 9 1 0
...... ... ...... ..... .......... ..P,2,3,5,6,7,81

c arl . .;.. .. ;..........P1,2,3,5,6,7,8
Com ics.................. .................................. P4


.... PI-12
Local Sports.......-............................ 8-20
.i ; ', '. : I


., wa^-'l^



PAGE 4, TUESDAY, JUNE 12, 2007


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

An explanation from the Publisher

WE SHALL digress today to talk about this
column and its author.
An editorial column expresses the opin-
ion, beliefs and philosophy of a newspaper.
The author behind the column should be of no
concern to readers. What is written in this
column is what the newspaper stands for. In
most newspapers an editorial board directs
policy and editorial writers produce the copy,
sometimes consisting of several short opinion
pieces. They are not all necessarily by the
same writer.
Not so at The Tribune. For more than 60
years Sir Etienne Dupuch, the late editor/pub-
lisher of The Tribune wrote this column daily
over his own byline. He was recorded in the
Guinness Book of Records in 1984 as the
world's longest serving editor. Four years
before his death, he handed his editorial pen
to his daughter and for a short time she also
wrote under her own byline. When she decid-
ed to change this tradition, she explained to
readers that she wanted The Tribune to have
a personality of its own not to revolve
around the personality of the editorial writer.
It was no longer to be what Sir Etienne or
Eileen Carron stood for, but rather what The
Tribune stood for and what The Tribune had
to say. And so the byline was dropped. At
the time Mr Paul Adderley was the only per-
son to voice an objection.
It seems important to many Bahamians to
know who is behind the written word. And
to satisfy their need, they decide that Mr So-
and-So wrote such-and-such and then they sit
down to beat their toothless gums against Mr
So-and-So. Critical opinions from the pen of a
Bahamian do not generate the same stormy
emotions as do the opinions of a foreigner.
Many Bahamians are so parochial that they
will not tolerate a foreigner's honest opinion
even though that opinion might be of more
value, because, unlike a Bahamian, he has no
personal axe to grind.
The reason we are writing in this vein today
is because an incident arose last week over
information in this column. Who wrote the
column seemed more important than the ques-
tion asked in the column.
Mr Michael Foster, architect for the straw
market, felt that the writer was blaming him
for government taking so long to construct
the market after the 2001 fire. On the con-
trary, we were criticising government believing
that it was government holding back the com-
pletion of the design, when in fact much of
the delay was caused by the difficult. water-
logged terrain on which a market was to be
In the end it transpired that Mr Foster had
completed all of his designs, and the persons
talking to us about missing designs was talking
about structural, and not architectural draw-
Anyway, Mr Foster believed that his repu-
tation was damaged. So upset was he that he
didn't sleep that night and still in a distraught
state he arrived at The Tribune with three
volumes of his drawings, consisting of about
150 sheets, under his arms.

Quality Auto Sales


For the best deal in town on
pre-owned cars, with warranty!


'98 HYUNDAI ELANTRA Best offer,
Very low mileage, very clean
Only 5,000 miles plus very clean

EAST SHIRLEY STREET 322-3775 325-3079
Visit our showroom at Quality Auto Sales (Freeport) Ltd for similar deals Queen's Highway 352-6122

The next day he told a radio audience how
he had waited 15 minutes at The Tribune
office, refusing to leave until he had seen "the
editor, publisher or whoever wrote that arti-
The receptionist did not tell him that the
publisher was not in the building. However, as
managing editor John Marquis was the highest
ranking staff member in the office, the recep-
tionist naturally directed Mr Foster to Mr
Marquis' office. As Mr Foster had asked to see
the person who had written the article, and
had been ushered into Mr Marquis' office
without an explanation, he assumed that Mr
Marquis was indeed this column's author. At
that hour of the morning it was a question of
whether Mr Marquis had had time to have
read the editorial in question.
Asked by the radio host whether Mr Mar-
quis admitted to writing the editorial, Mr Fos-
ter said he had not. Professional journalists are
interested in information and facts, not who
might or might not have written an article,
and so Mr Marquis was concentrating on Mr
Foster's complaint the writer of the article
was immaterial. As a matter of fact when Mr
Foster showed Mr Marquis the article, Mr
Marquis would have known immediately its
author. However, he would not have known
the erroneous information that Mr Foster had
by now stored in his head... and which he was
then passing on to his radio audience.
And now for the record. The Tribune pub-
lisher, like her father and grandfather before
her, writes this column. Occasionally there
are guests columnists, and as our regular read-
ers know at the bottom of such articles their
name and newspaper with which they are asso-
ciated are printed. Those columns are the
opinions of those particular writers.
What is printed in this space, and not
signed, is written by the publisher and is the
opinion of The Tribune. It is the only column
in this newspaper where the newspaper is per-
mitted to have its own space to state its opin-
ion. All the other pages are filled with news
reports both local and international and
feature articles and opinion pieces by different
And so when someone comes looking for
the writer of this column there is no point
calling at The Tribune office. Although she
still has her office at The Tribune, she is not
physically present. With today's incredible
technology she and her office is wherever her
computer is.
Although she is in daily contact with her
editors, reporters, photographers, archivists,
composing staff, accounts department, and
even her press room staff, she is not physi-
cally present. And although she is The Tri-
bune's night editor, her physical presence is
still not required. She and her computer, wher-
ever they choose to be, can work as efficient-
ly as if she were in her downtown office.
And so whenever a member of the public
has a problem with something that has been
published, they will be shown into the office of.
The Tribune's senior editor Managing Edi-
tor John Marquis.

EDITOR, The Tribune.
I MUST confess my mistak-
en ignorance on why we as a
nation have never moved with
the rest of the industrialized
world to the use of income
All along I believed that it
was just the simple matter that
with the flat tax that we have;
everyone pays at the same lev-
el for food and other items we
import. If you import or buy a
car that already includes duty,
the tax is the same for both
rich and poor.
Naturally if you can afford
a more expensive item you
will pay more tax, but that is
not my point, you may also
get appropriately more value.
Similarly a rich and poor fam-
ily purchasing the same food
will have the same taxes
added before purchase. We,
rich, poor or in-between, all
pay the same taxes for the
same items. In western nations
the rich pay more in taxes
than do the poor.
The less able in society pay
nothing or may get money
from their government. So
I've always thought that our
rich and powerful have want-
ed to retain this system for
their own personal benefit.
This may have started with the
"Bay Street Boys" but have
been dutifully carried on by
their majority rule successors.
There is no way under our
existing system for a person
with little available cash to
avoid the grocery taxes. We
have been brainwashed
against income taxes to the
benefit of the powerful. While
this may still be true, it is not
the only reason.
After reading in The Tri-
bune about accounting prob-
lems in a local government
some time ago, I have had an
The real reason not to have
a graduated income tax where
the rich pay more than you
and I do, is that with an
income tax you actually see
what is being taken from you
personally to run the place.
While no one really wants to
have that kind of tax either,
no one really wants to pay the
taxes on us in the grocery
stores either.
Taxes do get your attention
when it is ripped from your
hard earned pay. When your
neighbour wastes his pay it
could be funny or unfortunate

NOTICE is hereby given that FREDO GUSTAVE OF #257 SOUTH
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
12TH day of JUNE, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box F-41085, Grand Bahama, Bahamas.

14.8 Cube

.. $650.00

18 Cube

..n $720.00
dl --

21 Cube
i 1 $nn

3 2 32 0 3 -3 -7-7

but you may not care much.
When your money is wasted
by in-laws or family it gets
your attention and you may
want to do something about
Today the money that keeps
the government at all levels
running seems to land in offi-
cials laps mysteriously from
"tourism" or duties.
We have no ownership of
that money. Some people
think we have no taxes at all.
We do not see the govern-
ment's money as ours but as
That is wrong of course, it
still belongs to all of us. Like
my neighbour who squanders
his money, it is not my prob-
lem or may business.
With our taxes it is differ-
ent, it is our money that may
be wasted.
People of any party in pow-
er should not squander my

hard earned money. I find it a
personal affront that my tax
money is misused. Do you?
With income taxes, I would
pay less in the grocery store
less for car and grumble about
the Government taking my
hard earned cash.
But perhaps I would also be
very aware how they are
spending my money. They, the
Bay Street Boys and all fol-
lowing people in power, have
continued this method. The
rich and powerful of all eras in
our history protect themselves
at the expense of the poorer
parts of society. Income tax
can promote better gover-
nance because it is in your
Have you fallen in the trap
that the government has
"their" money, not "your"
money to do with as they will?
When they hand it out too
freely is it good that I might
get my cut of the pie or was it
mine in the first place?
May, 2007.


Special Report

EDITOR, The Tribune.
WHAT an overblown piece this Special Report by Paco
Nunez was. Firstly, I can safely say I have travelled more fre-
quently via Bahamasair between Marsh Harbour/Nassau than
either the news editor and the alleged hapless reporter, and have
never experienced anything other than courtesy from the Aba-
co ground staff.
Let me clarify, I am neither economically or politically impor-
tant, nor related or personally acquainted with any of the airport
However I am blessed with a modicum of common sense, and
a healthy dose of self responsibility. The reporter and his editor
both seem to have discounted the fact that each and every pas-
senger is told to check his/her ticket details at the time of pur-
If for whatever reason your intrepid travellers were not so
informed, did they not at any time realise "Whoops I'm booked
to return on Monday, not Sunday", or check the ticket on the
outward leg when the mistake could have been easily corrected.
Because, I hate to say it, the wrong date was a mistake, not a
nightmare, not a major failing of the Bahamasair training pro-
Going off the number of retractions, corrigenda and sundry
apologies The Tribune management have printed over recent
times, I am quite sure that your journalists are all to familiar with
human fallibility.
Secondly, how many times do you need to ask if a flight
schedule is full on the final afternoon of a public holiday week-
I think most people would realise that the chances of chang-
ing a flight would be slim indeed in those circumstances. I am
truly sorry that the young reporter felt driven to continue his
quest, and undoubtedly in the process "yuk up his vexation"
rather than cut his losses and keep his equanimity.
Finally, please don't insult your readers' intelligence by
labelling such personal "hype and gripe" as a "Tribune Special
Report" or investigative journalism.

Marsh Harbour,
June, 2007


administrative of5~ficsto h ~lw

Income tax can

promote better


| .r -,- 1cl 10,,


A O -.i-w


0 In brief

Woman is


while out

A WOMAN jogger was
allegedly attacked early yester-
day morning during her routine
run in the southwest of New
Speaking with The Tribune
yesterday, the woman who
wished to remain anonymous -
said that she was assaulted at
around 5.30am during her
morning jog on Carmichael
She claims that her attacker,
"grabbed her from the side and
gyrated on her back."
The assault reportedly hap-
pened in the vicinity of the
Bahamas Faith Ministries on
Carmichael Road.
The woman described her
attacker as a man of about 5ft
7in in height and weighing
about 295 lbs. He was shirtless
and wearing brown shorts at the
time of the attack.

Man faces

charge of


A MAN charged with the
rape of a 23-year-old woman
was arraigned in Magistrate's
court yesterday.
According to court dockets,
Tony Lewis of Mckinney Drive
raped the woman on April 29,
2007. Lewis, who appeared
before Magistrate Susan
Sylvester at Court 11 Nassau
Street, was not required to
plead to the charge and returns
to court on Thursday for a bail


calls for


to Chavez

PERUVIAN novelist Mario
Vargas Llosa urged Venezue-
lans to mobilise against their
nation's "dangerous trajectory"
toward totalitarianism follow-
ing President Hugo Chavez's
decision to force an opposition-
aligned television station off the
air, according to a Brazilian
news agency, according to Asso-
ciated Press.
Vargas Llosa, who was in
Brazil for a series of confer-
ences, criticised Chavez's deci-
sion not to renew the broadcast
licence of Radio Caracas Tele-
vision, or RCTV, in an inter-
view with Agencia Estado news
"The important thing is for
Venezuelans to resist," Vargas
Llosa said. "Shutting down
RCTV... will hopefully encour-
age opposition against a very
dangerous trajectory which for
Venezuela and the rest of Latin
America is very dangerous."
"Chavez is contributing to the
destabilisation of democracy in
Latin America," he said.
"Venezuela's opposition must
become more and more ener-
getic against a demagogue who
can destroy Venezuela."
RCTV, Venezuela's oldest
and most-watched private chan-
nel, went off the air May 27,
and its licence was turned over
to a state-funded channel.
Chavez accuses the station,
which was fiercely critical of his
government, of playing a key
role in backing a short-lived
2002 coup against him. He says
he respects freedom of speech.
International journalism
watchdogs call the move a blow
to press freedom and opponents
inside Venezuela have held
anti-Chavez protests opposing
the closure.
Vargas Llosa has written

more than 30 novels, plays and
essays, including "Conversation
in the Cathedral", "Aunt Julia
and the Scriptwriter" and "The
Green House."
In 1995 he was awarded the
Cervantes Prize, the Spanish-
speaking world's most distin-
guished literary honour.

Hanna-Martin denies 'heated

exchanges' with ex-US envoy

Tribune Staff Reporter
FORMER Minister of
Transport and Aviation,
Glenys Hanna-Martin, yester-
day denied assertions that dur-
ing her time in government
there were "heated exchanges"
between her and ex-US
Ambassador, John Rood.
Mrs Hanna-Martin said the
claims were "not true" during
her Budget presentation to the
House of Assembly.
"The former Ambassador, a
foreign diplomat, was simply
reminded that it was inappro-
priate to be discussing airport
security on a repeated basis in
such a public fashion," she said.
"First and foremost, the
Transportation Security
Administration, the agency

within the United States gov-
ernment responsible for avia-
tion security and for oversight
of the preclearance facility at
Lynden Pindling International
Airport, and who was in con-
tinuous discussions with us, has
on more than one occasion
admonished us on the unde-
sirability of discussing airport
security in the media."
Security problems at Lyn-
den Pindling International Air-
port have been a contentious
issue between the Bahamas
and US for years. Mr Rood
continually wrote and verbally
criticised the absence of secu-
rity measures he felt were
needed at the airport.
On more than one occasion,
Mr Rood and Mrs Hanna-
Martin's views on the level of
security at the airport differed

New minister stresses

need for more culture

THE new Minister of State
for Culture has said that
Bahamians need to be more
exposed to foreign cultures -
and backed increased sharing
of Bahamian culture with the
rest of the world.
Giving his contribution to
this year's budget debate,
Charles Maynard highlighted
the importance of cultural
exchanges to the Bahamas
"My government is con-
vinced that it is our duty to
share our cultural heritage,
our cultural expressions, our
literature, our music, songs
and most certainly our
Junkanoo, with the people of
the world.
"We are also obliged to
expose our citizens to the cul-
tural diversity that makes up
our world and to allow our
fledgling artists to take full
advantage of the expertise that
can be gained from interacting
with other countries," Mr
Maynard said.
Although the benefits of
such cultural exchanges are
less financially measurable
and more holistic, he said,
exchanges with other coun-
tries give "aesthetic meaning"
to citizens' lives, to the sense
of national pride and self
esteem of the Bahamian peo-
ple, and there are tangible

ways that Bahamians can ben-
efit from such cross-nation
He cited the recent visit of
the Mississippi Valley State
University Concert Choir as
an example of what could be
the possible outcome of
The choir was hosted by
Governor General Arthur
Hanna and performed at an
event along with a Bahamian
gospel group, Prophetic Voic-
By the time the event was
done, Mr Maynard said, the
prospects of academic schol-
arships for members of the
Prophetic Voices had been
explored and discussed.
Mr Maynard added: "In an
effort to further develop this
aspect of our cultural agen-
da, substantial resources will
be allocated to ensuring that
national entities, such as the
National Youth Choir, The
National Children's Choir,
the National Dance Compa-
ny, the National Youth
Orchestra, the Junkanoo
community, and individual
and group practitioners in
the visual, folk, and per-
forming arts sectors, are sup-
ported in their efforts to
reach out and touch the

* Used Cars for Sale
Mercedes, Nissan, BMW

also Used restaurant

equipment and other scrap metals

for sale

For more information call

Mr. Peter at: 326-1296 or




The Board of Directors of Commonwealth Bank Limited
has declared a Quarterly Dividend for
Ordinary, 'A', "B", "C", "D", "E", "F", "G", "H" and "I" Preference Shares,
to all shareholders of record at June 15, 2007, as follows:-

greatly, causing the US
Embassy and the Ministry of
Transport to work hard to find
some middle ground.
Mrs Hanna-Martin said:
"Secondly, the former ambas-
sador's public proclamations
contained inaccuracies which he
later publicly conceded. Finally,
the former ambassador was
very aware that the Govern-
ment had established a task
force which he knew was mov-
ing expeditiously and in good
faith to address the issues.
"Mr Speaker, what was puz-
zling for me was that the for-
mer Ambassador was almost
chronic in this conduct and
chose to do so in the media dur-
ing an election period."
Calls to the US Embassy were
not returned up to press time.

* GLENYS Hanna-Martin

Living Spaces



.-. :._ "_ .'

TEL:(243) 325-0050 FA0 (2I1325-0906

Email: Iivingspaces@tb Itsa .


Price includes rustproofing, licensing and inspection to birthday, full tank of fuel,
24,000 miles/24 months warranty and emergency roadside assistance.

EAST SHIRLEY STREET 322-3775 325-3079
Visit our showroom at Quality Auto Sales (Freeport) Ltd for similar deals, Queens Hwy, 352-6122
or Abaco Motor Mall, Don MacKay Blvd, 367-2916


* CHARLES Maynard

12t per share
7% per annum payable quarterly
7% per annum payable quarterly
7% per annum payable quarterly
7% per annum payable quarterly
7% per annum payable quarterly
7% per annum payable quarterly
7% per annum payable quarterly
7% per annum payable quarterly
7% per annum payable quarterly

The payment will be made on June 29, 2007, through
Colina Financial Advisors Limited, the Registrar & Transfer Agent,
in the usual manner.
Charlene A. Pinder
Corporate Secretary

1 3 2 2 -2 1 5 7 T I

TUESDAY, JUNE 12, 2007, PAGE 5


- u- m~lm

"A" Preference
"B" Preference
"F" Preference
"G" Preference
"H" Preference
"I" Preference


Funding set aside in budget to

expand dialysis unit at PMH

FUNDS to upgrade and
expand the Princess Margaret
Hospital's Dialysis Unit have
been allocated in the 2007/08
budget with the aim to accom-
modate the current level of
demand for services, Minis-
ter of Health Dr Hubert Min-
nis told the House of Assem-
Giving his contribution in
parliament last week, Dr Minnis
said that the budget estimates
includes funding to expand the
present unit to accommodate
an additional 10 to 14 dialysis
stations, at an estimated cost of

The completion date is sched-
uled for June 2008, he said.
Last year an infectious out-
break occurred in the Dialysis
Unit leading to an epidemio-
logical investigation by the Pan
American Health Organisation
According to Minister Min-
nis, the investigation revealed
that the number of patients
requiring haemo dialysis is
increasing every year, resulting
in the Dialysis Unit surpassing
the capacity for which it was
originally built.

"It is therefore imperative
that the Princess Margaret Hos-
pital proceeds with the devel-
opment and implementation of
plans to expand and upgrade
the Dialysis Unit to accommo-
date the current level of
demand for services," Dr Min-
nis said.
The minister said that cur-
rently all infection control prac-
tices and protocols are being
reviewed, upgraded and
"This includes the improve-
ment of monitoring and sur-
veillance processes, as well as

the reactivation of the Infection
Control Committee," he said.
The health minister further
said that physicians have been
assigned to provide full-time
medical coverage of the unit
and that a dialysis-trained
senior nursing leader has been
designated to oversee the
quality of nursing care and the
general management of the
"Clinical protocols and the
clinical audit programme in the
unit are being restructured, and
team building and valuable
communications between staff

and with patients have
improved. Special attention is
also being placed on patient
education and compliance," he
Dr Minnis emphasised that
physicians and nurses in the unit
are required to invest part of
their time daily on patient edu-
cation and support.
"Additionally, pharmacy staff
will be required to work direct-
ly with dialysis patients in mon-
itoring their drug regimens and
to provide counseling for
improved compliance and out-
comes,' he said.

A 12-YEAR-OLD Bahami-
an boy has been chosen to
attend a world-renowned arts
programme in Michigan for the
Bernard Farquharson, of
Lake Cunningham Estates in
New Providence, will attend
Interlochen Arts Camp the
world's premier summer arts
programme for aspiring artists
grades three through 12.
At the camp, which in 2007
celebrates its 80th summer at
the forefront of arts education,
Bernard will study piano.
In Nassau, Bernard the son
of Wayne and Patrina Far-
quharson attends Tamberley
School and is tutored in piano

by Rosalie Fawkes.
Interlochen Arts Camp
attracts students, faculty and
staff from all 50 US. states and
more than 40 countries.
The 3,000 students train
intensively with world-class
instructors, and produce more
than 450 presentations each
summer in dance, theatre, cre-
ative writing, visual arts, music
and film.
Among the camp's alumni
are singers Norah Jones and
Josh Groban; opera and con-
cert soprano Jessye Norman;
jazz pianist Eldar; actor Tom
Hulce; "Cathy" creator Cathy
Guisewite; vocalist Peter
Yarrow of Peter, Paul and

Mary, and CBS News Corre-
spondent Mike Wallace.
While at the camp, the young
artists study alongside and
learn from other artists and
performers. In 2007, visiting
artists will include Joshua Bell,
Olga Kern, Branford Marsalis,
Anthony Rapp and others.
The Arts Camp also shared
in the honor recently given to
the Interlochen Centre for the
In November of 2006, Inter-
lochen was awarded the Nation-
al Medal of Arts, the US' high-
est honor in the arts. It is one of
only a handful of arts organisa-
tions ever to receive such recog-

* BERNARD Farquharson at the piano

Realtor attends Sotheby's event in Arizona

A TEAM from the luxury real
estate firm Damianos Sotheby's
International Realty recently
returned from in the 2nd Annu-
al Sotheby's International Real-
ty Global Networking Event in

Scottsdale, Arizona.
The three-day event provided
a opportunity for all sales asso-
ciates, managers and owners
who are members of the Sothe-
by's International Realty.fami-

ly to create valuable networking
relationships designed to help
build their businesses and drive
new leads to their listings.
Virginia Damianos, vice pres-
ident of Damianos Sotheby's

. Smart is Exciting


Save NOW on your Choice of New 2007 Ford vehicles


All New

2008 Ford ESCAPE XLS
Power-fully fun to Drive 2.5 L 4
cylinder engine with automatic
transmission, power windows, locks
& mirrors, dual air bag, alloy wheels,
running boards.

a Available at


THOMPSON BOULEVARD TEL.: 356.7100 FAX: 328-6094
smt.-:,,. EMAIL: friendlymotors@hotmail.com WEBSITE: friendlymotorsbahamas.com

- IJ

International Realty said that
event provides "enormous val-
ue" to her firm.
"Having the ability to share
ideas and expertise with such
an outstanding group of our
professional peers highlights the
true strength of the Sotheby's
International Realty network.
We plan on utilising many new
strategies and concepts pre-
sented at this worthwhile
event," she said.
The annual global networking
event is aimed at giving industry
professionals opportunities to
gather and share their collec-
tive insight and experience,
Michael R Good. president and
chief executive officer at Sothe-
by's International Realty Affil-
iates explained.
"Every individual attending
this important conference truly is
committed to helping us grow
the Sotheby's International Real-

ty network, and we genuinely
appreciate their ongoing dedica-
tion and enthusiasm," he said.
Damianos Sotheby's Interna-
tional Realty, which has offices
in key areas throughout the
Bahamas, offers exclusive
Sotheby's International Realty
marketing, advertising and
referral services designed to
attract well-qualified buyers to
the firm's property listings. In
addition, the firm and its clients
benefit from an association with
the renowned Sotheby's auc-
tion house, which allows sales
associates access to real estate
referral opportunities with auc-
tion house clientele.
As a Sotheby's International
Realty affiliate, the firm also
has the unique ability to refer its
real estate clientele to the auc-
tion house for jewelry, art,
unique furniture and collectible
appraisal services.

THE -.

N THE team from Damianos Sothehy's at the event

Recognition for Montagu

Beach front contribution



E I l I1 Y -LAR -() l)
Edrick Iliall was prcesentcd \\ ilh
a ccrlificatlc ofi ]cciiniliin b\
Michael Jervis at the NMiIistiy ot
Tourism for his creative con-
structive contribution to thc
Montagu Beach I otm a;Iea.
The wiod and paint., \hichl
contributed Ito lhe cotrtiuiction

of the three benches seen in
the background, was spon-
sored hv Rocky Farms Nurs-
iery Ltd.
After 37 years of service as a
"Master" of the Boys Scout
Association. Mr Hlall said it
makes him happy to contribute
to his country.

OIn brief

outlines his
plans for


DEPUTY Prime Minister
and Minister of Foreign
Affairs Brent Symonette
foreshadowed new appoint-
ments to the Bahamas' over-
seas missions during his con-
tribution to the budget
Mr Symonette said he also
intended this year to have
designated professional staff
conduct inspection visits to
all of the country's overseas
During this fiscal period
the government proposes to
name new resident and non-
resident Ambassadors and
funds have also been provid-
ed to cover the cost of their
travel for the presentation of

Club owner

accused of

not having


FREEPORT The night-
club owner of a popular night
spot in West Grand Bahama
was arrested on Friday by
police, accused of breaching
the Liquor Licence Act and
not producing a valid busi-
ness licence.
According to reports, offi-
cers of the Central Detective
Unit, assisted by uniform offi-
cers, conducted a raid at the
establishment around
12.30am on Friday.
Supt Basil Rahming said
that it was initially suspect-
ed that the owner was oper-
ating in breach of the Liquor
Licence Act.
However, when officers
confronted the man, they
claim that he did not have a
valid licence to operate the
The nightclub was closed
and the club owner was
arrested. Police are continu-
ing their investigations into
the matter.

trade grows
at Bolivia and
Brazil border
Puerto Suarez
THE view into Brazil from
this Bolivian border city
seems like an Amazon jun-
gle paradise: an endless green
horizon broken only by the
reflection of an urban sky-
line shimmering in Caceres
Lagoon. But authorities here
say the largely unguarded
swamps, rivers and jungles
hide an increasingly sophisti-
cated cocaine trade, accord-
ing to Associated Press.
Controlling the 2,130-mile
frontier has been a low pri-
ority for Brazil and Bolivia,
which have been preoccupied
by tense negotiations over
the Bolivian gas Brazil buys.
Bolivia has just 157 border
officers one for every 14
miles. On the Brazilian side,
some 100 border posts are
manned by a patchwork of
local and national officers.
Chemicals used to turn Boli-
vian coca into cocaine flow
easily from Brazil, and
processed coca paste slips just
as easily back over the bor-
der, officials say.
"We have noticed a growth
in the traffic of cocaine, and
principally cocaine paste, over
the last two years," Marcio
Paulo Buzanelli, director of
the Brazilian Intelligence
Agency, told The Associated
Press. "One indication of this
are the seizures in the Brazil-
ian states that border Bolivia."
Cocaine seizures climbed
by 14 per cent last year to
1,570 kilograms in Brazil's
Mato Grosso do Sul state,
and leaped nearly 347 per
cent to 670 kilograms in Ron-

donia state.
The busts pale in compari-
son to seizures along more
heavily travelled smuggling
routes father north in the
Caribbean, and Bolivia
remains a distant third
among cocaine producing
nations behind Colombia and
'Peru. But officials say the
increasing Bolivia-Brazil bor-
der traffic reveals Bolivia's
growing coca crop and more
sophisticated drug produc-
tion feeding an expanding
market in Brazil's largest
cities and Europe beyond.

Young pianist chosen

to attend arts festival

-I I I- 'Irll


PAGE 6, TUESDAY, JUNE 12, 2007


Body found
FROM page one
resurface after more than an
A team of officers went to the
settlement, where they boarded a
vessel that ferried them about
three and a half miles south of
McCleans Town.
When Thomas' body was
retrieved from the water, police
examined it. They found no visi-
ble injuries on the body.
Police spoke with two residents
of High Rock who were fishing
with Thomas at the time. They
told officers that Thomas went
under the water around 11.30am,
but failed to surface after a long
The residents said that the
water was too deep for them to
retrieve him so they sent for help.
Police do not suspect foul play
at this time and are awaiting the
results of an autopsy to determine
the cause of death.

FNM vice-chairman

FROM page one
the other half in the next one.
"They botched the whole sys-
tem," he said.
He said that the court would
have' to examine such aspects as
how cutting the new constituencies
boundaries just weeks before the
election affected proceedings.
"The former prime minister
would have to be the first one to be
called (in court) to explain. He was
the chief architect of the whole
process," Mr Ferguson said.
Although the PLP has only one
more week to file their cases in
court, Mr Ferguson said that the
FNM has not yet assembled a legal
team to represent the governing
party in the election court.
"We are making no move yet in
that direction, if they (PLP) file
then we will have to do what we
have to do," he said.
Mr Ferguson said that should it
become necessary, the FNM has a
cadre of experienced lawyers to
choose from who "will rise to the
"It will be interesting to see how
they (the PLP) will challenge and
why they challenge," he said.
Mr Ferguson said he is confident
that the courts will make a "rea-
sonable determination" in each of
the cases filed by the opposition
Over the weekend both the
PLP's chairman Raynard Rigby
Sand lawyer Wayne Munroe, a
member of the party's legal team,
said they are ready for the election

Dialysis machines campaign receives donations

FROM page one

of his brother. Mr Julien's donation will
purchase a complete dialysis unit.
This includes purchase price, deliv-
ery to the Princess Margaret Hospital,
installation, staff training and one year
of technical support.
"I had intended to donate a dialysis
machine for about two years now," Mr
Julien told Mr Moore. "I had a brother
who received dialysis treatment for over
20 years. Unfortunately he passed away
recently. I'm happy to support your
Mr Julien said that considering "the
amount of money circulating in this
country it makes it difficult to believe
that poor people, and people in need
suffer the way they do."
Mr Julien hoped more people would
"step forward to help."
Shortly afterwards Dr Ebbie Shear-
er-Jackson, proprietor of Palmdale
Vision Centre, called to donate $2,000
towards the campaign.
"It's important to give in any capac-
ity you can," said Dr. Jackson. "I've
always believed in the importance of
sacrificing for the betterment of oth-
ers. It's a belief I try to instil in my

FROM page one

that fails to provide balanced
reporting?" he asked.
While not named specifically,
Mr Davis appeared to speak of
The Tribune and in particular,
managing editor John Marquis'
Insight column, when he referred
to "one of the daily newspapers
(which) made it their aim and
objective every Monday
morning to advocate stories
designed to give a negative slant
to the actions of government and
to the interests associated with
the government."
Yesterday, Mr Smith said: "I
am shocked that such words
,were said by Phil Davis, for
whom I have had respect as one
of the few members of the PLP
who has historically sensibly
advocated promotion and pro-
tection of human rights."
The lawyer stated that the
course of action suggested by Mr
Davis, would be undemocratic
and "unconstitutional...a breach
of the fundamental rights provi-
sions of the constitution" and
called for the party to "publicly
revile" the statement.
FNM chairman Johnley Fer-
guson agreed that the statements
appeared to be representative of

service the growing number of dialysis
patients," said Mr Roberts, who on vis-
iting the unit recently noticed a Best
Buys staff member receiving his four-
hour treatment.
"As a valuable member of a business
team," said Mr Roberts, "he needs to
get in, get his treatment and get back
into the working community.
"If the machine was down for
unscheduled maintenance, his appoint-
ment would have to be rescheduled,
wasting precious time and money. A
strong dialysis unit at PMH is valuable
for the community in all respects."
Larry Roberts and Bahamas Realty
were the first contributors to the cam-
paign. They donated funds to pay for 25
per cent of the first dialysis machine.
Tile King, FYP and an anonymous
donor also donated funds that are the
equivalent of one and a quarter
Tile King, FYP, The Tribune and its
affiliated radio stations, and the
Princess Margaret Hospital Foundation
have partnered to raise the funds for
the new machines.
All donations should be in the form
of a cheque made payable to The
Princess Margaret Hospital Foundation
with a note that the donation is to go to
The Dialysis Machine Fund.

the PLP government under Sir
Lynden Pindling, being award-
ed to The Guardian instead,
according to Tribune publisher
Eileen Carron.
Under the FNM government
in 1992, the advertising was split
between The Tribune and the
-The Guardian, with this remain-
ing the case to this day, other
than some additional advertis-
ing in the Bahama Journal.

The fund-raising drive for funds to
replace eight old dialysis machines at
the Princess Margaret Hospital with
eight modern and efficient units will be

heard Wednesday morning over radio
station 100 JAMZ.
"Businesses should realise the impor-
tance of having sufficient equipment to

Freedom of expression

previous claims made by the for-
mer government suggesting a dis-
position towards "muzzling" the
Both Mr Smith and Mr Fer-
guson claimed that Mr Davis'
words were indicative of a ten-
dency on the part of the PLP
towards only looking favourably
on press freedom "if (the press)
report the way you want them
to report."
The media allows opportuni-
ties for the "other side of the sto-
ry" to be heard, and there are
legal avenues to be taken if state-
ments made are libellous or
defamatory, and beyond this the
press should be given freedom
to exercise its judgment in
reporting the issues at hand, Mr
Ferguson emphasised.
Mr Smith added that the for-
mer governing party should in
fact "take great comfort" from
the existence of the The Tribune
as an outlet for the expression
of their own dissenting views, as
it was such an outlet for many
during "the dark days of PLP
victimisation and oppression"
under Lynden Pindling.
He concurred with several

members of the public who con-
tacted The Tribune to express
surprise at Mr Davis' concern
with "biased" reporting in the
private news media in light of
his party's vociferous support of
former ZNS host Steve McKin-
ney, whose daily talk show on
the publicly-funded station was

widely condemned as heavily
biased in favour of the former
The "government advertising"
to which the Mr Davis is most
likely referring is "Gazette" pub-
The denial of such advertising
from this newspaper would not
be unprecedented, as for twenty-
five years such advertising was
withheld from The Tribune by

FROM page one

favour to someone who is not competent in the
"It is my understanding that the principal of this
group would not know the difference between a
hockey stick and a baseball bat," he said.
Mr Grant added that in the contract, the group
was not required to provide more than three full
days of work in any week for its services, with little
work being provided. He declared that the contract
is "another shameful waste of the people's mon-
Mr Wilchcombe said that under his administra-
tion, employees at the ministry of tourism were not
asked their political affiliation. The former minister
declared that he is proud of his record, as under his
watch, the staff of the ministry was almost com-
pletely Bahamianised.
Regarding the contract in question, Mr Wilch-
combe said that the ministry had fought for the con-
tract for years, with the desire of bringing the person

Minister of Tourism
in permanently, as the party has experience working
with the top hotels in the country.
"The truth of the matter is that you are not going
to be able to build and develop tourism unless you
put in place the experts to do it. The minister can't
do it," he said.
During his contribution, Mr Wilchcombe further
warned the new minister to get to know the ministry
before making uninformed comments.
Mr Grant also took issue with the former gov-
ernment's involvement with Bolam House, the build-
ing housing the Ministry of Tourism. The minister
said that after some $4.5 million had been spent on
the building, including its purchase four years ago,
and upgrade work, the building is in a state of dis-
repair with significant cracks in the concrete struc-
Staff of the ministry, Mr Grant said, are now in
about eight locations with some staff even working
at home.

tally Yours,

tally Yaris

y J /.:-r=

STOYOTA I moving forward,




. . ,





The superbly balanced proportions of the Toyota Yaris reflect the
inherent intelligence of its design and the spacious comfort that it offers.
Features include: 1.3 litre engine, automatic transmission, ABS brakes,
power steering, power windows, power locks, air conditioning, driver's
side airbag, and CD player.


Backed by a 3-year/60,000 mile factory warranty

EX E CU TIV E Auto Mall, Shirley Street (opp. St. Mahew'sChurch)
Open Mon to Fri .am 5 IOpm
MOTORS LTD Sat 8am- 1"no7n
TM1' Tel: 322-6705/6 or 397-1700 ,_
E-mail: execmotor@'batelnet bs
AUTHORISED TOYOTA DEALER Parts and service guaranteed
Available in Grand Bahama at Quality Auto Sales (Freeport) Queens Hwy, 352-6122 Abaco Motor Mall, Don MacKay Blvd, 367-2916

MARK ROBERTS, Tile King and FYP Ltd, (left) and Sean D Moore, marketing
manager, The Tribune (right), receive a cheque towards the purchase of a dialysis unit
from Michelle Taylor, office manager Palmdale Vision Centre. The donation was made
by Dr Ebbie-Shearer-Jackson, proprietor of the Vision Centre.











Based on recent reports in the press regarding

a proposed stock split of Focol Holdings

Limited shares, Focol's Board of Directors can

confirm that a stock split is under consider-

ation. However, no final decision has been

made regarding the specific terms and condi-

tions of a proposed stock split by Focol

Holdings Limited.

Once Focol's Board of Directors makes a final

determination regarding the proposed stock

split, the Board will ensure a complete disclo-

sure on the same.

June 11,2007

"Fuelling Growth For People"

TUESDAY, JUNE 12, 2007, PAGE 7





JUNE 12, 2007

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

Great Romances ** WINGED MIGRATION (2001, Documentary) Narrated by Jacques My Music: The British Beat (l
B WPBT of the 20th Cen- Perrin. Filmmaker Jacques Perrin follows migratory birds. (CC)
The Insider (N) NCIS "Blowback" Ducky goes under The Unit "Silver Star" Jonas wit- 48 Hours Mystery 0 (CC)
0 WFOR f (CC) cover to stop a high-pdonty arms nesses some disturbing behavior by
dealer. (CC) his nephew. n, (CC)
SAccess Holly- America's Got Talent "Auditions No. 2" Contestants vie for an invitation Law & Order: Special Victims Unit
m WTVJ wood (N) (CC) to the callbacks. (N) 0 (CC) "Outsider" Fin looks into a rape case
at his son's college.
Deco Drive On the Lot Fourteen filmmakers House House notices something News (N) (CC)
0 WSVN compete. (Live) n (CC) about the son of a man who has
been in a coma for a decade.
Jeopardy! (N) Fast Cars & Su- (:31) NBA NBA Basketball Finals Game 3 -- San Antonio Spurs at Cleveland Cava-
0 WPLG (CC) perstars-Cel- Countdown fliers. From Quicken Loans Arena in Cleveland. (Live) n (CC)
ebrity Race (Live) n (CC)

(:00) CSI: Miami CSI: Miami A woman Horatio has Dog the Bounty Dog the Bounty Criss Angel Criss Angel
A&E "Three-Way" M been dating is murdered and he is Hunter Two dif- Hunter Missing Mindfreak Bed of Mindfreak Ex-
(CC) the last one to see her alive. ferent cases. (N) girl. (CC) broken glass, ploding truck.
Hardtalk BBC News World Business BBC News Kill or Cure BBC News World Business
BBCI (Latenight). Report (Latenight). "Meningitis" (Latenight). Report
BET Hotwyred (CC) ** SOUL PLANE (2004, Comedy) Kevin Hart, Tom Arnold, Method "' Top 12 Moments of the BET
BET Man. Passengers and crew party aboard an airliner. (CC) Awards (CC)
CBC Coronation Rick Mercer Re- Little Mosque on CBC Winnipeg Comedy Festival CBC News: The National (N) (CC)
Street (N) (CC) port (CC) the Prairie (CC)
:00) On the Fast Money Deal or No Deal Contestants get a The Big Idea With Donny Deutsch
CNBC moneyy chance to win money. (CC)
(:00) The Situa- Paula Zahn Now (CC) Larry King Live (CC) Anderson Cooper 360 (CC)
CNN tion Room
Scrubs JD wres- The Daily Show The Colbert Re- Reno 911! South Park (CC) Jim Gaffigan: Beyond the Pale
COM ties with his feel- With Jon Stew- port (CC) Deputies probe The comic performs. (CC)
wings. art (CC) the sheriff's mur-
Cops A pursuit a Cops "Coast to Cops "Coast to Cops fr (CC) Cops "Coast to Under Fire Under Fire
COURT stolen vehicle. Coast" f (CC) Coast" f (CC) Coast" ,t (CC)
The Suite Life of GO FIGURE (2005, Drama) Jordan Hinson, Whitney Sloan, Cristine That's So Raven Life With Derek
DISN Zack & Cody Fa- Rose. A teenage figure skater joins a girls' hockey team. A (CC) "Ye Olde Dating "It's Our Party"
other visits. ,1 Game" n (CC)
DIY This Old House Home Again Sweat Equity Bathroom Reno- Bathroom Reno- 10 Things You Trade School
DIY (CC) (CC) vations vations Must Know "Quarrying"
DWV Beckmann ML Mona Lisa Journal: Tages- Politik direkt Journal: In Euromaxx
DW them Depth
E The Daily 10 (N) **s OFFICE SPACE (1999, Comedy) Ron Livingston, Jennifer Aniston. The Simple Life The Simple Life
E A white-collar worker rebels against corporate drudgery. Goes to Camp Goes to Camp
ESPN NFL Live (Live) U.S. Poker Championship From U.S. Poker Championship From Baseball Tonight (Live)
P (CC) Atlantic City, N.J. (Taped) (CC) Atlantic City, N.J. (Taped) (CC)
I 00) Soccer UEFA European Under 21 -- Israel vs. 2006 World Series of Poker Main 2006 World Series of Poker Main
ESPNI etherlands. event, from Las Vegas. (CC) event, from Las Vegas. (CC)
Daily Mass: Our Mother Angelica Live Classic Religious Cata- The Holy Rosary Threshold of Hope
EWTN Lady Episodes logue Na
ST 00) Cardlo Blaine's Low Blaine's Low Namaste Yoga Namaste Yoga National Body Challenge DJ's
FIT TV Blast f, (CC) Carb Kitchen Carb Kitchen "Lotus Link" (CC) family shapes up.
F X C Fox Report- The O'Rellly Factor (Live) (CC) Hannity & Colmes (Live) (CC) On the Record With Greta Van
FOX-NC Shepard Smith Susteren (Live) (CC)
(:00) MLB Baseball Cleveland Indians at Florida Marlins. From Dolphin Stadium in Miami. The Sports List The FSN Final
FSNFL (Subject to Blackout) (Live) _I_____Score (Live)
GOLF (:00) Live From the U.S. Open (Live) Johnny Miller Live From the U.S. Open
GSN ULingo (CC) Show Me the Money Players compete for cash. A Who Wants to Chain Reaction Chain Reaction
GSN (CC) Be a Millionaire (CC) (CC)
G4Te (:0) Attack of X-Play (N) X-Play Cops "Coast to Cops n (CC) G4's Free Stuff Ninja Warrior
G4Te h the how! (N) Coast" (CC) (N)
(:00) Walker, Walker, Texas Ranger The tale of OUT OF THE WOODS (2005, Drama) Ed Asner, Jason London. A self-
HALL Texas Ranger Hayes Cooper, a Texas Ranger with absorbed lawyer visits his eccentric grandfather. (CC)
,I (CC) no Christmas spirit.
Buy Me Mary's Green Force Re- Design Inc. Sarah's House Take It Outside Urban Outsiders Designer Guys
HGTV family's triplex. vitalized neigh- Sarah's nursery. Mudroom and Odd space. ft (CC) Diverse family
,A(CC) borhood. f, (CC) laundry. (N) 1f (CC) room. n (CC)
Morris Cerullo Breakthrough Christ in Inspiration To- Life Today (CC) This Is Your Day The Gospel
INSP (CC) Prophecy day (CC) Truth
Reba "Switch" My Wife and According to According to Friends Monica Everybody Everybody
KTLA Reba tries speed Kids n (Part 1 Jim "Model Be- Jim Jim plays interrupts Joey & Loves Raymond Loves Raymond
dating. of 2) (CC) havior" (CC) hooky with Kyle. Ross' game. "Who Am l?" n (CC)
Still Standing Reba Barbra Reba Reba and A FAMILY LOST (2007, Drama) Cynthia Gibb, Daniel Roebuck. Danger
LIFE Judy's boss Jean dyes her Brock attend a fu- follows a woman and her daughter after a plane crash. (CC)
moves in. (CC) hair red. (CC) neral. A1 (CC)
MS 00) Hardball Countdown With Keith Olber- Scarborough Country MSNBC Investigates: Lockup: In-
MSNBC cc_ mann side Folsom
Jimmy Neutron: SpongeBob Drake & Josh Funniest Home Full House "Up Roseanne (I Roseanne n
NICK Boy Genius SquarePants n n (CC) Videos on the Roof" (CC) (CC)
NTV The Winner ,) NCIS Ducky goes under cover to House "Son of Coma Guy" f, (PA) News (N) f News
(CC) stop a high-prority arms dealer. (CC) (CC)
S PEED Pinks American Thun- NOPI Tunervi- Motorcycle Racing AMA Motocross MotorcYcle Racing AMA Motocross
SPEED der (N) sion --Mt. Morris. Lites -- M. Morris.
Jordan Rubin Behind the Joyce Meyer: John Hagee To- Bill Gaither (CC) Praise the Lord (CC)
TBN Scenes (CC) Enjoying Every- day (CC)
day Life (CC)
Everybody Everybody Everybody Sex and the City Sex and the City Friends Phoebe Friends Rachel
TBS Loves Raymond Loves Raymond Loves Raymond "Evolution" 't "La Douleur Ex- receives an em- finds a new ro-
"Civil Wars" ,) "Good Girls" Debra fights. ft (CC) quise!" bryo implant. 1 mantic interest.
(:00) Sports Dis- Rides "Foose's'69" Working on a Miami Ink "Tensions Rock the Miami Ink "New Artist Search" Ami
TLC asters "Over the Camaro. (CC) Shop" Kat's friend Mike visits. (CC) and Nunez search for a replacement
Edge" (CC) for Kat. (N)
(:00) Without a Without a Trace Jack endures a The Closer A killer with a penchant The Closer Brenda is charged with
TNT Trace "Trials" ', brutal deposition in his divorce pro- for burning women alive must be re- misconduct; investigating a Holly-
(CC) ceedings. n (CC) leased from person, wood producer's murder.
OON Pokemon: Dia- Ed, Edd n Eddy Camp Lazlo Home for Imagi- Code Lyoko Grim Adven- Futurama "Rag-
TOON mond and Pearl nary Friends tures ing Bender" n
TV5 On nest pas couch
TWC Storm Stories Abrams & Bettes Weathor: Evening Edition (CC)
:00) Duelo de La Fea Mas Bella Lety es una nifa Destilando Amor Ver Para Creer
U N IV asiones dulce, romntica e inteligente, pero
apenas atractiva. (N)
(:00) Law & Or- Law & Order: Special Victims Unit Law & Order: Special Victims Unit COYOTE UGLY (2000, Ro-
USA der: Criminal In- Cabot crosses the line to close a Rape suspected in mentally chal- mance-Comedy) Piper Perabo,
tent (CC) child molestation case. lenged woman's pregnancy. Adam Garcia, Maria Bello. (CC)
VH1 :00) Caught on 40 Greatest Internet Superstars n Flavor of Love Girls: Charm
VH1 ape School Charm School Prom. A
VS World Combat TapouT World Extreme Cagefighting Urijah Faber vs. Chance Farrar. From Las
VS. League Vegas.
VVGN :00) America's Funniest Pets & Funniest Pets & Funniest Pets & Funniest Pets & WGN News at Nine (N) n (CC)
WGN Funniest Home People A (CC) People n (CC) People (CC) People n (CC)
Videos (CC)
Everybody Gilmore Girls Lorelai realizes that Veronica Mars A campus football CW11 News at Ten With Kaity
WPIX Loves Raymond her life is based on the opposite of player hires Veronica to find his Tong, Jim Watkins (N) (CC)
(CC) what her parents want. (CC) stolen playbook. n (CC)
Jeopardy! (N) Dr. Phil Trial marriage; bulimic News (N) Jeopardy! (CC) Frasier Frasier Frasier Frasier
WSBK (CC) bride. f (CC) wants to be an visits Dr. Phil. ,
art critic. (CC) (CC)
H(6:15) *PI ** YOU, ME AND DUPREE (2006, Comedy) Owen Wilson, Kate Hud- The Sopranos "Made in America"
H BO-E FEVER PITCH son, Matt Dillon. A jobless buddy moves in with two newlyweds. n 'PG- Final chapter in the saga of the So-
_______ (2005) 'PG-13' 13'(CC) prano family. n (CC)
(6:00) *** John From Cincinnati "His Visit: *** TWISTER (1996, Action) Helen Hunt, Bill Paxton, Cary Elwes.
H BO-P FEARLESS Day One" A stranger arrives at the Storm chasers race to test a new tornado-monitoring device. 'PG-13'
(1993) 'R' (CC) Snug Harbor Motel. (CC) (CC)
(6:30)** (:15) Barbaro The Kentucky Derby (:15) ** FEVER PITCH (2005, Romance-Comedy) Drew Barrymore,
H BO-W SOMETHING winner struggles with a shattering Jimmy Fallon, James B. Sikking. A woman falls in love with a die-hard
NEW (2006) leg injury. (CC) baseball fan. t 'PG-13' (CC)

** COMMANDMENTS (1997, Comedy-Drama) IN HER SHOES (2005, Comedy-Drama) Cameron Diaz, Toni Col-
H BO-S Aidan Quinn. A distraught man vows to break all of the lette, Shirley MacLaine. A sexy partyer clashes with her serious-minded
Ten Commandments. F 'R' (CC) sister. 0 'PG-13' (CC)
(:00) Have You Seen Andy? (N) MADAGASCAR (2005, Comedy) Voices of WAIST DEEP (2006, Action)
MAX-E n (CC) Ben Stiller, Chris Rock. Animated. Zoo animals must Tyrese Gibson. A man's son is in-
learn to survive in the wild. ,t 'PG' (CC) side his hijacked car. n 'R' (CC)
(:10) * STRIPES (1981, Comedy) Bill Murray, * JUST LIKE HEAVEN (2005, Romance-Comedy) (:35) ** DOC-
MOMAX HaroldRamis, Warren Oates.A joy ride takes two Reese Witherspoon. An architect falls for the spirit of a TOR DOLITTLE
Army recruits across enemy lines. (I 'R' (CC) comatose woman. A 'PG-13' (CC) (1998) 'PG-13'
** JIMINY GLICK IN LALAWOOD (2004, Comedy) The Tudors "Episode 10" (iTV) 2001 MANIACS (2005) Robert En-
SHOW Martin Short. iTV. A celebrityinterviewer becomes tan- Wolsey tries to ally himself with glund. Cannibals terrorize college
gled in a murder case. I 'R' (CC) Queen Katharine. It (CC) students in a Southern town. 'R
(:00) ** ENCINO MAN (1992, *** CLERKS (1994, Comedy) Brian O'Halloran, *; NATIONAL LAMPOON'S
TMC Comedy) Sean Astin, Brendan Fras- Jeff Anderson. Store clerks shoot the breeze during a BARELY LEGAL (2005, Comedy)
er. 'PG (CC) typical workday. I 'R' (CC) Erik von Detten. f 'R' (CC)


Bl' i VOL I' c il i'e +tfo tle

A\ IC-Hpp' aHtOLIl' o cDon C oldls in
PaIli n ale e0,e,'v Tl lll'sda 11

f.o,, 31110p to 4:30ptm ll +1fie
o~l\f n Je 2007.

EnjoN Great Food, Prizes and Lots of Fun.

i'm lovin' it

-. L -

Let Clxarliie fixe
B3ail\,Li aii1 Pt ,ppet ani d
Iis sidekick l s'ilek smiless ol yofo'
ics s fces. a


PAGE 8, TUESDAY, JUNE 12, 2007



.r '. <

TUESDAY, JUNE 12, 2007, PAGE 9





have partnered to supply critically needed
for the Princess Margaret Hosptial

Help us raise $164,000
to purchase 8 dialysis
machines for the PMH

The number of patients that need dialysis is
pushing the dialysis center to its capacity.

Each dialysis unit costs $20,500 i.e., complete
installation, training of staff members and 1 year
of technical support. All donations should be
made payable to The Princess Margaret
Hospital Foundation with a note for The Dialysis
Machine Fund.

Your contribution will help hundreds of patients
that currently rely on these old machines for life.

Contact Sean D. Moore of The Tribune at
502-2394 or Thelma Rolle of the Princess
Margaret Hospital Foundation at 325-0048
to make a donation.





We, art f or vor r.sion t A r m n OUTM .I
Ebbie Shearer Jackson, o00, F.AA
oftf Antoinette Rolle, Nassau, Bahamas

The Tribune


,/4W l44wm

1 _ _ _



r I LI I



PAGE 10, TUESDAY, JUNE 12, 2007

Enthusiastic reception for

'seven principles'


LAWRENCE W. Reed, pres-
ident of the Mackinac Centre for
Public Policy of Michigan, spoke
at a recent dinner reception given
by The Nassau Institute on the
"Seven Principles of Sound Pub-
lic Policy."
Mr Reed was in the Bahamas
at the invitation of the Institute.
His address was enthusiasti-
cally received by more than 60
invited guests.
Mr Reed said that the seven
principles of sound public policy
that he was sharing with his audi-
ence were the "pillars of a free
The principles, he said, were
not original with him, nor were
they the only pillars of a free
economy nor the only settled
truths, but they did provide a sol-
id foundation.
"In my view," he said, "if the
cornerstone of every state and
federal building were emblazoned
with these principles and more
importantly, if every legislator
understood and attempted to be
faithful to them we'd be a
much stronger, much freer, more
prosperous and far better-gov-
erned people."
Following are the seven princi-

Free people are not equal, and
equal people are not free.
First, I should clarify the kind
of "equalness" to which I refer
in this statement. I am not refer-
ring to equality before the law -
the notion that you should be
judged innocent or guilty of an
offence based upon whether or
not you did it, with your race, sex,
wealth, creed, gender or religion
having nothing to do with the out-
come. That's an important foun-
dation of Western civilization,
and though we often fall short of
it, I doubt that anyone here would
quarrel with the concept.
No, the "equalness" to which I
refer is all about income and
material wealth what we earn
and acquire in the marketplace
of commerce, work and exchange.
I'm speaking of economic equal-
ity. Let's take this first principle
and break it into its two halves.
Free people are not equal.
When people are free to be them-
selves, to be masters of their own
destinies, to apply themselves in
an effort to improve their well-
being and that of their families,
the result in the marketplace will
not be an equality of outcomes.
People will earn vastly different
levels of income; they will accu-
mulate vastly different levels of
wealth. While some lament that
fact and speak dolefully of "the
gap between rich and poor," I
think people being themselves in
a free society is a wonderful thing.
Each of us is a unique being, dif-
ferent in endless ways from any
other single being living or dead.
Why on earth should we expect
our interactions in the market-
place to produce identical results?
We are different in terms of
our talents. Some have more than
others, or more valuable talents..
Some don't discover their highest
talents until late in life, or not at
all. Magic Johnson is a talented
basketball player. Should it sur-
prise anyone that he makes infi-
nitely more money at basketball
than I ever could? Will Kellogg
didn't discover his incredible
entrepreneurial and marketing
talent until age 46; before he
struck out on his own to start the
Kellogg Company, he was making
about $25 a week doing menial
jobs for his older brother in a Bat-
tle Creek sanitarium.
We are different in terms of
out industriousness, our willing-
ness to work. Some work hard-
er, longer and smarter than oth-
ers. That makes for vast differ-
ences in how others value what
we do and in how much they're
willing to pay for it.
We are different also in terms
of our savings. I would argue that
if the president could somehow
snap his fingers and equalize us all
in terms of income and wealth
tonight, we would be unequal
again by this time tomorrow
because some of us would save
our money and some of us would
spend it. These are three reasons,
but by no means the only three
reasons, why free people are sim-
ply not going to be equal eco-
Equal people are not free, the
second half of my first principle,
really gets down to brass tacks.
Show me a people anywhere on
the planet who are indeed equal
economically, and I'll show you a
very unfree people. Why?
The only way in which you
could have even the remotest
chance of equalizing income and
wealth across society is to put a
gun to everyone's head. You
would literally have to employ
force to make people equal. You
would have to give orders, backed

up by the guillotine, the hang-
man's noose, the bullet or the
electric chair. Orders that would

President of the Mackinac

Centre for Public Policy

of Michigan speaks at the

Nassau Institute

go like this: Don't excel. Don't
work harder or smarter than the
next guy. Don't save more wisely
than anyone else. Don't be there
first with a new product. Don't
provide a good or service that
people might want more tian
anything your competitor is offer-
Believe me, you wouldn't want
a society where these were the
orders. Cambodia under the com-
munist Khmer Rouge in the late
1970s came close to it, and the
result was that upwards of 2 mil-
lion out of 8 million people died
in less than four years. Except for
the elite at the top who wielded
power, the people of that sad land
who survived that period lived at
something not much above the
Stone Age.
What's the message of this first
principle? Don't get hung up on
differences in income when they
result from people being them-
selves. If they result from artificial
political barriers, then get rid of
those barriers. But don't try to
take unequal people and com-
press them into some homoge-
nous heap. You'll never get there,
and you'll wreak a lot of havoc
Confiscatory tax rates, for
example, don't make people any
more equal; they just drive the
industrious and the entrepre-
neurial to other places or into
other endeavours while impover-
ishing the many who would oth-
erwise benefit from their
resourcefulness. Abraham Lin-
coln is reputed to have said, "You
cannot pull a man up by dragging
another man down."

What belongs to you, you tend
to take care of; what belongs to
no one or everyone tends to fall
into disrepair.
This essentially illuminates the
magic of private property. It
explains so much about the fail-
ure of socialized economies the
world over.
In the old Soviet empire, gov-
ernments proclaimed the superi-
ority of central planning and state
ownership. They wanted to abol-
ish or at least minimize private
property because they thought
that private ownership was selfish
and counterproductive. With the
government in charge, they
argued, resources would be uti-
lized for the benefit of everybody.
What was once the farmer's
food became "the people's food,"
and the people went hungry.
What was once the entrepre-
neur's factory became "the peo-
ple's factory," and the people
made do with goods so shoddy
there was no market for them
beyond the borders.
We now know that the old
Soviet empire produced one eco-
nomic basket case after another,
and one ecological nightmare
after another. That's the lesson
of every experiment with social-
ism: While socialists are fond of
explaining that you have to break
some eggs to make an omelette,
they never make any omelettes.
They only break eggs.
If you think you're so good at
taking care of property, go live
in someone else's house, or drive
their car, for a month. I guarantee
you neither their house nor their
car will look the same as yours
after the same period of time.
If you want to take the scarce
resources of society and trash
them, all you have to do is take
them away from the people who
created or earned them and hand
them over to some central author-
ity to manage. In one fell swoop,
you can ruin everything. Sadly,
governments at all levels are pro-
mulgating laws all the time that
have the effect of eroding private
property rights and socializing
property through "salami" tactics
- one slice at a time.

Sound policy requires that we
consider long-run effects and all
people, not simply short-run
effects and a few people.
It may be true, as British econ-
omist John Maynard Keynes once
declared, that "in the long run,
we're all dead." But that should-
n't be a license to enact policies
that make a few people feel good
now at the cost of hurting many
people tomorrow.
I can think of many such poli-
cies. When Lyndon Johnson
cranked up the Great Society in
the 1960s, the thought was that
some people would benefit from
a welfare cheque. We now know

that over the long haul, the fed-
eral entitlement to welfare
encouraged idleness, broke up
families, produced intergenera-
tional dependency and hopeless-
ness, cost taxpayers a fortune and
yielded harmful cultural patholo-
gies that may take generations to
undo. Likewise, policies of deficit
spending and government growth
- while enriching a few at the
start have eaten at the vitals of
the nation's economy and moral
fiber for decades.
This principle is actually a call
to be thorough in our thinking.
It says that we shouldn't be super-
ficial in our judgments. If a thief
goes from bank to bank, stealing
all the cash he can get his hands
on, and then spends it all at the
local shopping mall, you wouldn't
be thorough in your thinking if
all you did was survey the store
owners to conclude that this guy
stimulated the economy.
We should remember that
today is the tomorrow that yes-
terday's poor policymakers told
us we could ignore. If we want to
be responsible adults, we can't
behave like infants whose con-
cern is overwhelmingly focused
on self and on the here-and-now.

If you encourage something,
you get more of it; if you dis-
courage something, you get less of
You and I as human beings
are creatures of incentives and
disincentives. We respond to
incentives and disincentives. Our
behaviour is affected by them,
sometimes very powerfully. Poli-
cymakers who forget this will do
dumb things like jack up taxes on
some activity and expect that peo,-
ple will do just as much of it as
before, as if taxpayers are sheep
lining up to be sheared.
Remember when George
Bush (the first one) reneged
under pressure on his 1988 "No
New Taxes!" pledge? We got big
tax hikes in the summer of 1990.
Among other things, Congress
dramatically boosted taxes on
boats, aircraft and jewellery in
that package. Lawmakers thought
that since rich people buy such
things, we should "let 'em have it"
with higher taxes. They expect-
ed $31 million in new revenue in
the first year from the new taxes
on those three things. We now
know that the higher levies
brought in just $16 million. We
shelled out $24 million in addi-
tional unemployment benefits
because of the people thrown out
of work in those industries by the
higher taxes. Only in Washing-
ton, D.C., where too often law-
makers forget the importance of
incentives, can you aim for 31,.
get only 16, spend 24 to get it and
think that somehow you've done
some good.
Want to break up families?
Offer a bigger welfare cheque if
the father splits. Want to reduce
savings and investment? Double-
tax 'em, and pile on a nice, high
capital gains tax on top of it.
Want to get less work? Impose
such high tax penalties on it that
people decide it's not worth the
Right now in both state and
federal legislatures, much atten-
tion is being given to the ques-
tion of how to deal with deficits
due to recession and declining
revenues. At the Mackinac Cen-
ter, we believe that government
ought to deal with such circum-
stances the way you and I and
families all across the state deal
with similar circumstances: cur-
tail spending. That's especially
true if we want to stimulate a
weak economy so it will produce
more jobs and more revenue.
When the patient is ill, the doctor
doesn't bleed him.

Nobody spends somebody
else's money as carefully as he
spends his own.
Ever wonder about those sto-
ries of $600 hammers and $800
toilet seats that the government
sometimes buys? You could walk
the length and breadth of this
land and not find a soul who
would say he'd gladly spend his
own money that way. And yet
this waste often occurs in gov-
ernment and occasionally in oth-
er walks of life, too. Why?
Because invariably, the spender is
spending somebody else's mon-
Economist Milton Friedman
elaborated on this some time ago
when he pointed out that there


w 4 j.

pictured here speaking at the
Rotary Club of South East Nas-
sau, spoke on the "Seven Prin-
ciples of Sound Public Policy" at
the Nassau Institute.

are only four ways to spend mon-
When you spend your own
money on yourself, you make
occasional mistakes, but they're
few and far between. The con-
nection between the one who is
earning the money, the one who
is spending it and the one who is
reaping the final benefit is pretty
strong, direct and immediate.
When you use your money to
buy someone else a gift, you have
some incentive to get your mon-
ey's worth, but you might not end
up getting something the intend-
ed recipient really needs or val-
When you use somebody else's
money to buy something for
yourself, such as lunch on an
expense account, you have some
incentive to get the right thing
bu p reason to economize.
lwly, when you spend other
people's money to buy something
for someone else, the connection
between the earner, the spender
and the recipient is the most
remote and the potential for
mischief and waste is the greatest.
Think about it somebody
spending somebody else's mon-
ey on yet somebody else. That's
what government does all the
But this principle is not just a
commentary about government. I
recall a time, back in the 1990s,
when the Mackinac Center took a
close look at the Michigan Edu-
cation Association's self-serving

statement that it would oppose
any competitive contracting of
any school support service (like
busing, food or custodial) by any
school district anytime, anywhere.
We discovered that at the MEA's
own posh, sprawling East Lansing
headquarters, the union did not
have its own full-time, unionized
workforce of janitors and food
service workers. It was contract-
ing out all of its cafeteria, custo-
dial, security and mailing duties to
private companies, and three out
of four of them were non union!
So the MEA the state's
largest union of cooks, janitors,
bus drivers and teachers was
doing one thing with its own mon-
ey and calling for something very
different with regard to the pub-
lic's tax money. Nobody -
repeat, nobody spends some-
one else's money as carefully as
he spends his own.

Government has nothing to
give anybody except what it first
takes from somebody, and a gov-
ernment that's big enough to give
you everything you want is big
enough to take away everything
you've got.
This is not some radical, ideo-
logical, anti-government state-
ment. It's simply the way things
are. It speaks volumes about the
very nature of government. And
it's perfectly in keeping with the
philosophy and advice of Ameri-
ca's Founders.
It's been said that government,
like fire, is either a dangerous ser-
vant or a fearful master.
Think about that for a moment.
Even if government is no bigger
than our Founders wanted it to
be, and even if it does its work
so well that it indeedis a servant
to the people, it's still a dangerous
one! As Groucho Marx once said
of his brother Harpo, "He's hon-
est, but you've got to watch him."
You've got to keep your eye on
even the best and smallest of gov-
ernments because, as Jefferson
warned, the natural tendency is
for government to grow and lib-
erty to retreat. You can't wind it
up and walk away from it; it takes
eternal vigilance to keep it in its
place and keep our liberties
The so-called "welfare state" is
really not much more than rob-
bing Peter to pay Paul, after laun-
dering and squandering much of
Peter's wealth through an indif-
ferent, costly bureaucracy.
The welfare state is like feeding
the sparrows through the horses,
if you know what I mean. Put yet
another way, it's like all of us
standing in a big circle, with each
of us having one hand in the next
guy's pocket. Somebody once said
that the welfare state is so named
because in it. the politicians get
well and the rest of us pay the

A free and independent peo-
ple do not look to government
for their sustenance. They see
government not as a fountain of
"free" goodies, but rather as a
protector of their liberties, con-
fined to certain minimal functions
that revolve around keeping the
peace, maximizing everyone's
opportunities and otherwise leav-
ing us alone. There is a deadly
trade-off to reliance upon gov-
ernment, as civilizations at least as
far back as ancient Rome have
painfully learned.
When your congressman
comes home and says, "Look
what I brought for you!" you
should demand that he tell you
who's paying for it. If he's honest,
he'll tell you that the only reason
he was able to get you something
was that he had to vote for the
goodies that other congressmen
wanted to take home and
you're paying for all that, too.

Liberty makes all the differ-
ence in the world.
Just in case the first six princi-
ples didn't make the point clearly
enough, I've added this as my sev-
enth and final one.
Liberty isn't just a luxury or a
nice idea. It's much more than a
happy circumstance or a defen-
sible everyday concept. It's what
makes just about everything else
happen. Without it, life is a bore
at best. At worst, there is no life
at all.
Public policy that dismisses lib-
erty or doesn't preserve or
strengthen it should be immedi-
ately suspect in the minds of a
vigilant people.
They should be asking, "What
are we getting in return if we're
being asked to give up some of
our freedom?" Hopefully, it's not
just some short-term handout or
other "mess of pottage." Ben
Franklin went so far as to advise
us, "Those who would give up
essential Liberty, to purchase a
little temporary Safety, deserve
neither Liberty nor Safety."
Too often today, policymak-
ers give no thought whatsoever
to the general state of liberty
when they craft new policies.
If it feels good or sounds good
or gets them elected, they just do
it. Anyone along the way who
might raise liberty-based objec-
tions is ridiculed or ignored.
Today, government at all levels
consumes more than 42 per cent
of all that we produce, compared
with perhaps 6 per cent or 7 per
cent in 1900.
Yet few people seem interested
in asking the advocates of still
more government such cogent
questions as, "Why isn't 42 per
cent enough?"; "How much more
do you want?"; or, "To what
degree do you think a person is
entitled to the fruits of his




The Bahamas Telecommunication Company Ltd. (BTC) wishes

to inform its valued customers and the general public that an

equipment up-grade will take place on Wednesday June 13th and

Thursday June 14th between the hours of 11pm and 5am.

As a result, both Post-Paid and Pre-Paid GSM cellular customers

on the islands on Bimini, Berry Island and New Providence may

experience an interruption in their services.

BTC apologizes for the inconvenience caused, and assures the

public that once services are restored, customers will experience

enhanced quality.

TUESDAY, JUNE 12, 2007, PAGE 11

'ii; ~



Lie ,aio e ot0w ol96LveRdi e ot0000
Thursday, June14 0am o2p 0hrdy ue 1 o6pm
AtThompson dAt Bad



C. - "W


PAGE 12, TUESDAY, JUNE 12, 2007

JUNE 12, 2007


The Bahamas Telecommunications Company Limited

St. Andrew's 10th Grade Economics

Class Gets Connected

Students of St. Andrew's Secondary School
participated in BTC's Connecting with the
Youth Program. The Connecting with the
Youth Program was designed to educate and
empower student about the importance of BTC
in the community and also to highlight the
opportunities available in the field of
technology and communications.
Mr. Kenyon Basden, Supervisor Outside Plant,
BTC gave an in-depth presentation 6n the
changes in technology. Mr. Basden explained
how dial tone is created from start to finish and
the hazardous conditions that technicians may
sometimes have to work, in order to provide
superior quality service to the public. Mr.
Basden further explained importance of BTC in
the community not just as a

telecommunications provider, but as a
corporate sponsor to the youth, the environment
and as an employer who encourages, continued
education and entrepreneurship.
Mr. Steve Hepburn, Manager Outside Plant
Construction, BTC explained the importance of
the Fiber Optic System and the role it plays in
the continued development of the
telecommunications industry. Many of the
benefits that BTC's Fiber Optic System offers
to the public are: increased speed and
efficiency, decreased cost, reduced static
interference and stronger signal strength over
longer range.
Mr. Joseph Cox Jr. Marketing & Public
Relations, BTC gave the students a brief lesson
in the various aspects of Marketing and the

many employment opportunities that are
available at BTC for those who are willing to
work hard, have a passion for customer service
and continued education. Employees of BTC
are continually attending courses locally and
internationally to keep abreast of changing
technologies no matter the area of the organized
in which they are employed.
BTC would like to thank St Andrew's School
for selecting our organization as the first choice
for their students to explore employment
opportunities in such areas as; Engineering,
Marketing, Accounting, Information
Technology and Management Information
Systems and to gain in-depth knowledge about
the technological advances in the Bahamas and
around the world.

A. St. Andrews 10th grade economic students pictured on
tour of the BTC Poiniciana Drive Facility. Seeing the
inner workings of the operation here at BTC helped them
to gain knowledge of how their day to day
S telecommunications worked.

CALLBTC 225-5282 www.btcbahamas.com

- ~U~s~--- ~~"I~~~"~~`""""~"~~""~" `"

TUESDAi. JUNrE 12 2007



I I~i~
~ U

Miami Herald Business, Stocks,

Bahamas market access

offer on EPA


* Minister says not certain whether submission made, but FNM 'will certainly review it'

* Laing warns Bahamas must balance need for duty-free EU access for Bacardi, seafoods

with broader trade agreement needs and impact on tourism, financial services

Government to avoid 'isolated, expedient decisions'

Tribune Business Editor
he minister of state yes-
terday told The Tribune
it was "questionable"
whether the previous
Bahamian government
had submitted a formal market access
offer for the Economic Partnership
Agreement (EPA) with the European
Union (EU), adding that the FNM
administration "will certainly review"
any offer made.
Zhivargo Laing warned that the
Bahamas had to balance the need for
its exporters, such as Bacardi, to have
duty-free market access to the Euro-
pean Union (EU) with how other
industries' might be impacted and this

nation's "broader participation" in
other international trade arrange-
The deadline for the Bahamas to
submit its EPA services offer to
CARIFORUM, the body negotiat-
ing with the EU on CARICOM and
the Dominican Republic's behalf, is
imminent. Talks on the EPA are sup-
posed to be completed this year, with
the agreement implemented from
January 1, 2008, onwards as a replace-
ment for the Cotonou agreement
between the EU and 77-member
African, Caribbean and Pacific (ACP)
group of countries.
Mr Laing, who has responsibility
for international trade in the Ingra-
ham government, said the review of
the Bahamas' position on the EPA


would be based on the threshold of
"WTO comparability" given the plans
for this nation to begin serious talks
on full WTO membership.
"In reviewing the EPA, our review
will be against that backdrop, so that
what we do is have an international
trade position that is consistent across
the board," Mr Laing told The Tri-
"For us, the urgency is that we have
some companies [Bacardi, the
seafoods industry and Polymers Inter-
national] that could be seriously
affected by non-participation in the
"We have to balance those inter-
ests against broader participation in
these agreements."
Mr Laing said that when it came to

the EPA, and safeguarding duty free
market access to the EU for exports
such as Bacardi's rum, the Bahamas
had to make a "sound decision, not an
expedient one" that could disadvan-
tage other industries and the wider
Bahamian economy. This would
result in the Bahamas suffering a net
loss, rather than a net benefit, from its
EPA position.
"There are many in the financial
services sector, the tourism sector and
others who want to know what par-
ticipation [in the EPA] means for.
them. It would be unfortunate for us
to make any move without taking into
account the implications for them,"

SEE page 6

New cruise terminal Bahamas braces for 10% room inventory drop

to give $5 1 boost 0 By CARA BRENNEN- reduction in room inventory to effectively offset the loses Bahamas, they have also

Tribune Business
A NEW cruise port termi-
nal for Grand Bahama is
expected to be completed with-
in 24 months, and should in
two years triple cruise arrivals
to that island and inject an
additional $51 million in tourist
spending into the Grand
Bahama economy.
Tourism minister Neko
Grant said in his Budget con-
tribution that the Government
was looking to develop a new
cruise port on a 40-acre, cen-
trally located waterfront site,
in conjunction with a willing
financier, developer and sup-
plier, the Grand Bahama Har-
bour Company and Grand
Bahama Port Authority.
Mr Grant said that in eco-
nbmic terms, cruise arrivals
should more than double in
the first year and triple within
two years from the 351,000 lev-
el to some 1.1 million.
In addition, he said the pre-
opening period will generate
a significant number of con-
struction-related jobs and
involve contracts worth tens of

New Grand
Bahama facility
could triple
cruise arrivals
in two years, and
be completed in
24 months

millions of dollars.
Mr Grant said that to date
there are more than 1300 hotel
rooms out of service on Grand
Bahama, primarily due to the
closure of the Royal Oasis.
He said the dramatic fall-off
in traffic triggered by the 33.3
per cent drop in hotel room
capacity had seen Grand
Bahama's room inventory
drop from 3,500 rooms to a
record low of just 2,500 rooms.
"It should be noted that
even in their worst performing
year of operations, the Royal
Oasis and Casino's payroll
alone represented an injection
of some $20 million into the

SEE page 8

Tribune Business
THE Bahamas is expected
to suffer an overall reduction
in available hotel room inven-
tory of more than 10 per cent
before year-end 2007, the Min-
ister of Tourism told the
House of Assembly yesterday,
warning that occupancy levels
will have to rise significantly
to offset this loss.
In his budget contribution,
Neko Grant explained that the

would be caused y the con-
tinued closure of Grand
Bahama's Royal Oasis resort,
combined with the loss of
rooms at the Radisson Cable
Beach Resort set to be re-
opened as a Sheraton today -
and additional closures such as
the Nassau Beach Hotel.
"One of the messages here is
that the previous occupancy
levels that have averaged 65.2
per cent for the whole
Bahamas, over the past five
years since 2002, will have to
be raised significantly in order

in inventory, MrI ranti saiU.
He added that a breakdown
of this occupancy average by
island for the 2002-2007 period
were 71.5 per cent for New
Providence and Paradise
Island, versus just 56 per cent
for Grand Bahama and only
36.8 for the Family Islands.
"There is certainly room to'
drive business throughout our
islands," the minister said.
Mr Grant acknowledged
that while low-cost carries
such as Spirit and Jet Blue
have boosted arrivals to the

allowed alternative destina-
tions such as Bermuda, the
Turks and Caicos, the Domini-
can Republic, Jamaica, St
Maarten and Aruba to now
enjoy the benefit of compara-
ble fares to that of the
Bahamas, taking away the
price advantage this country
has had in recent years.
He noted the impact the
Western Hemisphere Travel
Initiative (WHTI) has had on

SEE page 5

Charming 2-bedroom 1, -bath villa with private courtyard. Updated
cabinetry in kitchen, bath fixtures, door, and apphances. Mexican tile
floors, lots of closet space, alarm system, open beam vaulted wood
ceilngs, community pools and tennis court. Reduced $520,000.
EXCLt S,/ I.Y IS' .. Vir :. -' 11. i : .. .

y Damianos


SIRbahamas.com t 242.322.2305 f 242.322.2033

Fit r dp onneyBack Mortgage

.invetment- ccun fro Atmotgae *ndyo coldhae oer**


Nasu t 356-* ..774*Fe epr:t3267


Tel: (242) 356-7764

Tel: (242) 351-3010

Analysis, Wall Street

- I

Myths and realities behind stock splits

Recent article in The
Tribune reported
that BISX-listed

FOCOL Holdings is consider-
ing a three-for-one stock split.
If carried out, the present share
price of $17.30 would be
promptly divided by three to

Equity Side


IN THE MATTER of Socimer International
Bank Limited
(In Liquidation)


IN THE MATTER of the Companies Act 1992

RULES, 1975

Name of Company:

Address of Registered Office:

Nature of Business:


Number of Matter:

Amount per B$:

First and Final or otherwise:

When Payable:

Where Payable:

Socimer International
Bank Limited

Charlotte House,
Charlotte Street,
Nassau, Bahamas

Banking Company

Supreme Court of the
Commonwealth of the
Bahamas, Equity Side

221 of 1998

6 cents


12 June, 2007

One Montague Place,
Nassau, Bahamas

Dated this 12th day of June A.D., 2007

Paul F. Clarke

about $5.77, and the number
of each investor's shares would
simultaneously be multiplied
by three. Clearly, the total val-
ue of any shareholder's invest-
ment would be unchanged.
Why this interest by a
sophisticated, successful cor-
porate board of directors in a
re-capitalisation exercise that
will cost the company a little
money but have no immediate
effect on shareholder value?
The basic reason given is
that the present $17.30 price
of FOCOL "is likely to be per-
ceived as prohibitive and too
expensive to encourage an
appropriate level of trading
activity . a $5.77 share price
is likely to be perceived as an
attractive entry point for new
investors, and for encouraging
existing investors to buy and
Let's analyse these reasons.
(For ease of calculation, take
Commonwealth Bank, which
may soon trade at $15 and may
consider a three-for-one split
to bring the price down to $5).
First, no investor is thinking
about buying one share. It's
not the $15 that's deemed too
expensive, it's the cost of buy-
ing a large block of shares. Sec-
ond, investors do not initially
think about the number of
shares they want to buy, but
rather about the number of
dollars they want to invest. Yet
third, there is always a natural
preference for buying 100-
share round lots; it makes for
easier record-keeping than
owning 50-share or 33-share
holdings, although it is usually
possible to buy these odd-lots.

Iat '_IG H

stock splits in the US markets)
claims that splits are evidence
of management's confidence
in a growing company and will
create greater liquidity. For
example, a three-for-one split
would increase the number of
FOCOL shares in public hands
from about three million to
about 10 million. If the split
theory is correct, even sub-
stantial investors (both exist-
ing and new ones) will be hap-
pier (irrationally) to own more
shares and will start trading
them actively, thus inevitably
moving the share price up. Of
course, a rational shareholder
could benefit from the actions
of the irrational ones, and sim-
ply sit back and watch his
investment appreciate. The
market is not always rational,
as even the coolest investors
The true value of a share
split is an empirical one that
can only be tested after the
fact. After the split is
announced, can the share price
be seen to rise because of the
split itself ? Consider FOCOL:
the present price/earnings ratio
(P/E) is 10.4X, which will stay
the same immediately upon a
three-for-one share split (the
lower share price being
matched by proportionally
lower earnings per share). If
we soon see the P/E rising to,
say 12X, that may result from
more outstanding shares lead-
ing to more active trading, or it
may simply result from
stronger shareholder convic-
tion about management's abil-
ity to improve earnings. In oth-
er words, it's difficult to dis-
tinguish the share-split effect
from basic investor confidence
in the company, as even split
proponents admit. Does a split
itself increase such confidence?
Very hard to say. Certainly,
the price will drop if earnings
falter, no matter how many
share splits are announced.
We should not ignore the
countervailing argument
against splits, espoused not
only by Warren Buffet, with
his unique Berkshire Hath-
away B Shares that trade at

over $3,600, and the directors
of Google, priced over $500,
but by many other US compa-
nies. A recent article in Seeking
Alpha, an investment newslet-
ter, reports that there are more
and more NYSE-listed com-
panies whose shares have
moved near or above $100 and
show no interest in a split to
bring the price down to the
more common $20-$50 range.
They include such popular
blue-chips as IBM, Apple and
Goldman Sachs.
These companies believe
that a high share price, without
the inducement of splits, "will
decrease speculative activity
and keep shares in the hands
of long-term holders". These
objectives are shared by most
public companies, including
Bahamian ones, and certainly
should be given weight.
Stock-trading commissions
also have a bearing on share
splits. In the US, commissions
are usually irrelevant, since on-
line brokerages such as Schwab
charge a fixed commission for
any trade within a very wide
price range (presently $12.95
for most individual traders).
But in the Bahamas, the cost
of trading rises directly with
the number of shares traded.
One leading firm charges $0.05
per share to buy or sell, with a
minimum of $50, equivalent to
trading 1,000 shares. This is not
a criticism, since local firms
certainly are entitled to higher
fees than US firms to cover the
excellent service they provide
on far lower volume. But it
must be recognized that trad-
ing here can become more
expensive (and better for the
broker) after a split. Where a
shareholder wants to cash in
$10,000 pre-split, he can do it
by selling about 670 shares at
$15 and paying the minimum
$50 commission; after a three-
for-bne split, he has to sell
2,000 shares at $5, paying $100
commission. And the same for
the buyer.
All in all, it's clear that the
case for a stock split is not a
"slam-dunk" decision but must
be carefully analysed.

Let your Scotiabank savings win you


Or $2,500, $3,500, $4,000 and $5,000.

Now a deposit account with Scotiabank can put $15,000 in your hands. Start with
a new account, or use your existing account. Either way, the more you save, the
more chances to win. So there's never been a better time to build your savings!

Contest ends August 31, 2007.

Life. Money. Balance both:

And you get the gift of

on all new
0/ during the
Month of June!

Finuciau l Solutions for life!

242-461-1000 wwwbabftinancial.com ,I r "s


One factor motivating stock
splits is the objective of many
companies to attract the
"small" (however defined)
shareholder. At present, he
would need $1,500 to buy 100
shares. With a three-for-one
split, he could buy 100 shares
for only $500. The real ques-
tion is, in today's Bahamian
economy are there actually
many investors who only have
$500 available to invest in a
quoted equity?
This seems doubtful. We are
not in the world of a dozen
years ago, where initial public
offerings were priced at $1 or
$2 to attract the "little man".
Inflation and a booming econ-
omy have lifted the price of
everything, corporate shares
included: the "little man" is
earning much more than he
did then, and expects to pay
more for everything he buys.
We can be pretty sure that an
individual who these days can-
not afford to invest $1,500
should not be in the business of
picking individual shares. He
should invest in one of our
well-managed mutual funds,
where his smaller cheque will
be. welcome and his risk will
be diversified over many hold-
ings or failing this, just put his
money on bank deposit.
In short, is not a split, result-
ing in a lower share price,
nothing but an appeal to a
market segment that may not
actually exist?
However, there are often
said to be "psychological"
advantages in executing a split
- I would call them "irra-
tioial"'. This line of thinking
(often used to justify the many


I -

~ DIlmu)~ II Ir R~lio(,,.*I~n~r r~mr b md ui" "."- ." "- ,-, -,,"il. "- ,- --, -".. "nl cm "ll ,"l(* *I uVImdiOl i "-(II.n"l Ilil*I ,-ll .... ......1Iiii

-- -.-Mi




.he iami leralb oTUESDAY, JUNE 12, 2007



DOW 30 13,424.96 +0.57
: S&P 500 1,509.12 +1.45
NASDAQ 2,572.15 -1.39 V
10-YR NOTE 5.16 +.05
CRUDE OIL 65.97 +1.21






Associated Press
NEW YORK Stocks fin-
ished a wobbly session, flat
Monday as stubbornly high
bond yields discouraged inves-
tors from extending Wall
street's recovery from last
week's steep losses.
The yield on the Treasury's
10-year note rose to 5.16 percent
Monday from 5.11 percent late
Friday. Last week, investors
took signs of recalcitrant infla-
tion to mean a rate cut by the
Federal Reserve wqs unlikely,
and they sent stock and bond
prices tumbling; since yields
move in the opposite direction
from bond prices, market inter-
est rates soared. The 10-year
Treasury yield climbed above
5 percent for the first time since
last summer.
The Fed has kept the federal
funds rate, the interest banks
- charge each other for overnight
loans, unchanged at 5.25 percent
since last summer, following a
string of increases over about
two years.
"I don't think that there is a
lot of clarity as to monetary pol-
icy for the rest of 2007 and I
think that in general puts mar-
kets on edge," said Les Satlow,
portfolio manager at Cabot
Money Management.
The Dow )ones industrial
average rose 0.57, or less than
0.01 percent, to end at 13,424.96,
capping a day of trading that
saw stocks slip, advance, and
then pull back again.
Broader stock indicators
were narrowly mixed. The
Standard & Poor's 500 index
rose 1.45, or 0.10 percent, to
1,509.12, and the Nasdaq com-
posite index fell 1.39, or 0.05
percent, to 2,572.15.
Oil prices, which also stirred
inflation concerns last week,
rebounded Monday after falling
sharply Friday. Iran's oil minis-
ter said Monday the Organiza-
tion of Petroleum Exporting
Countries doesn't plan to
release more oil into the market
ahead of its next policy meeting
in September. Light, sweet
crude rose $1.21 to $65.97 per
barrel on the New York Mer-
cantile Exchange.
Amid an absence of eco-
nomic and earnings 'reports,
investors will likely focus on
moves of the bond market and
individual stocks as they await
data on inflation due later in the
week. On Thursday, the Labor
Department releases its pro-
ducer price index and on Friday
the consumer price index is
The dollar was higher
against most other major cur-
rencies, and gold prices also
Advancing issues just barely
outnumbered decliners on the
New York Stock Exchange,
*where consolidated volume
came to 2.47 billion shares,
down from 2.98 billion shares
The Russell 2000 index of
smaller companies fell 2.13, or
0.25 percent, to 833.18.
Stock markets abroad rose
S aftersteep declines last week.
Japan's Nikkei stock average
rose 0.31 percent and China's
often-volatile Shanghai Com-
posite Index rose 2.1 percent.
Britain's FTSE 100 rose 0.96
percent, Germany's DAX index
advanced 1.52 percent, and
France's CAC-40 rose 0.97.


Blackstone co-founders to get $2.33B in IPO

Associated Press
NEW YORK Private-equity
powerhouse Blackstone Group said
Monday that Chief Executive Ste-
phen Schwarzman made $400 million
in 2006 almost double the com-
bined compensation for the CEOs of
Wall Street's five biggest investment
Schwarzman, 60, will lead the
New York-based firm to the highly
anticipated initial public offering of
its management company within the
next few weeks. He could cash in as
much as $677.2 million of his stake
during the IPO, and still walk away
with a 24 percent interest in the com-
pany valued at as much as $7.7 bil-
Blackstone's top five executives,
including Schwarzman, earned a
combined $771.5 million in 2006 -

part of the $2.27 billion in net income
the company paid out last year.
Blackstone Group expects to record
significant losses for a number of
years following its IPO, because of
amortization and compensation
"It is a really .
number," said
Richard Fer-
lauto, director
of pension and
policy for the .
American Fed-
eration of
State, County
and Municipal SCHWARZMAN
Employees, about Schwarzman's
compensation package. "There's a
concentration of the super-wealthy
that is being created in the financial


Or .


services marketplace that is
unhealthy for the rest of the econ-
The sale of 12.3 percent of Black-
stone's management arm is expected
to value the entire company at just
more than $32 billion. Investors in the
IPO will be given little voting rights
in Blackstone itself, though. Instead,
their stakes will be tied to the man-
agement committee that runs the
firm and not the companies and
real estate it controls.
Schwarzman's compensation eas-
ily eclipsed the CEOs of Wall Street's
biggest investment banks: Goldman
Sachs Group, Merrill Lynch & Co.,
Lehman Brothers Holdings, Bear
Stearns, and Morgan Stanley. The
highest paid CEO on Wall Street last
year was Goldman's Lloyd Blankfein,
who made $54 million.
Schwarzman's big payday comes

HAVE IT YOUR WAY: A sign advertises a Spam breakfast at Burger King in Honolulu. Both Burger King
and McDonald's are offering the processed meat with eggs and rice for breakfast in Hawaii only.
Hawaii leads the nation in Spam consumption despite being one of the least populated states.

Burger King, McDonald's

joust for Spam crown

Associated Press
Americans, spam is a four-letter
word for unwanted e-mail. In
Hawaii, Spam is a beloved comfort
food, with cans of the gelatinous
pork bricks found in virtually every
Hoping to cash in on Hawaii's
love affair with the pinkish meat
product, Burger King last month
began offering Spam for breakfast
going head-to-head with rival
McDonald's, which has been fea-
turing Spam in the islands for years.
Burger King is offering the Spam
Platter two slices of Spam nes-
tled between white rice and scram-
bled eggs. The fast-food giant also
offers the Croissanwich or Biscuit
Sandwich with Spam.
Denise Yamauchi, Burger King
managing director in Hawaii, said
sales have been "very good and
very promising."
"It's so popular with the locals,
we wanted to cater to them," she
Putting Spam on the menu,
alongside more traditional items
such as the Whopper, has been in
the works for about a year, and Bur-
ger King's corporate headquarters
finally signed off on the idea.
"It's something that was a little
unique and a little different for
them, so it was a bit of a hard sell to
bring to Hawaii," Yamauchi said.
"But they finally realized it is a
unique flavor and something the
locals really like."
At a Burger King near down-
town Honolulu, where a poster in
the window proudly advertises
"Spam in the A.M.," the Spam Plat-

SPAM & EGGS: Mildred Camerino shows off her Spam breakfast at a
Burger King in Honolulu. It was Camerino's first taste of Burger
King's spam meal, but she had eaten the McDonald's version.

ter was selling for $3.49. The nearly
identical Spam, Eggs and Rice plate
across the street at McDonald's was
Melanie Okazaki, marketing
manager for McDonald's Restau-
rants of Hawaii, said Spam has been
offered at the chain's 75 island res-
taurants since 2002.
"In Hawaii, it is a very popular
menu item and we will continue to
offer it to our customers," she said.
Burger King's latest offering is
counter to the chain's push to offer
healthier fare, including salads and
the meatless BK Veggie Burger. But
no one can deny Hawaii's appetite
for Spam.
Despite being one of the least-
populated states, Hawaii leads the

nation in consumption of the Hor-
mel Foods product. It has been a hit
ever since World War II. Isle resi-
dents consume more than 5 million
pounds of Spam a year, an average
of about six cans for every man,
woman and child.
Spam "musubi" a slice of
Spam atop a block of rice and
wrapped in seaweed is an island
favorite sold at nearly every con-
venience store. Spam fried rice is a
local classic.
There are also more varieties of
Spam- sold in Hawaii than any-
where else. There's Spam Garlic,
Spam Bacon, Spam with Cheese,
Spam with Tabasco, Spam Turkey
and Spam Lite, which featured less
sodium and less fat.

as the firm which launched in 1985
with a $400,000 investment makes
the final arrangements on its public
The flotation of the interest in the
management division to the public is
designed to cash out its founders'
stakes, and secure a more permanent
source for financing.
In addition, another 9.7 percent
will be controlled by the Chinese
government as part of a $3 billion
investment announced in May. Black-
stone's management and underwrit-
ers will own the rest of the company.
Co-founder and Chief Operating
Officer Peter Peterson, 80, will get
$1.88 billion from the IPO, and retain
a 4 percent stake valued at about
$1.3 billion. Peterson, who plans to
retire by the end of 2008, received
$212.9 million in compensation last





73 percent

in May

Associated Press
BEIJING Just last month, China
announced plans to buy $4.3 billion
of U.S. technology as a way to show
how serious it is about reducing the
ballooning trade gap with the U.S.
So it must have come as a mixed
blessing in Beijing to see that China's
antigravity trade surplus soared again
in May to the third-highest monthly
level on record, according to govern-
ment figures released Monday.
The surplus hit $22.5 billion, up
73 percent from last May, the Chinese
customs agency said on its website.
Exports jumped 28.7 percent to
$94 billion, while imports rose
19.1 percent to $71.6 billion.
China has promised to narrow its
yawning trade gap under pressure
from Washington and other govern-
ments, but economists say multibil-
lion-dollar surpluses are likely to
The United States wants Beijing to
raise the value of its currency, the
yuan, which critics say is underval-
ued, giving Chinese exporters an
unfair advantage. Several American
lawmakers are calling for punitive
tariffs on Chinese goods if Beijing
fails to act.
Senior American and Chinese
envoys met last month for the second
round of a high-level dialogue meant
to address trade disputes. But they
have failed to defuse tensions with
Congress, where lawmakers say sup-
port for trade penalties is growing.
The United States reported a
$232.5 billion trade deficit with China
in 2006, and this year's figure is
expected to surpass that.
President Hu Jintao's government
insists it isn't actively seeking a trade
. surplus and is taking steps to rein in
booming exports by imposing taxes
on steel shipments and repealing
export rebates.
China ended the yuan's direct link
to the dollar in July 2005 and raised
its value by 2.1 percent. Since then,
the yuan has been allowed to rise by
about 5.7 percent in tightly controlled
trading. It has trading recently at
about 7.65 to the dollar. Many econo-
mists say a change in the yuan's
exchange rate on its own is unlikely
to close the U.S. trade gap.
The European Union was China's
biggest trading partner in the first
five months of the year, with total
two-way commerce rising 29 percent
to $129.9 billion, according to the cus-
toms agency.
The United States was in second
place, with two-way trade rising
18.2 percent to $115.2 billion from Jan-
uary to May, the agency said. Japan
was No. 3, with trade up 15.5 percent
at $91.2 billion.
Beijing is trying to reduce depen-
dence on exports by encouraging
China's consumers to spend more,
which would increase imports and
narrow the trade gap. But that has
had only limited success, with
exports still growing much faster
than domestic retail sales.


r 1;6n




Chief who saved Qwest

is planning retirement

From Herald Wire Services
Richard Notebaert, who pulled a troubled Qwest Com-
munications (Q) from the brink of bankruptcy amid a mul-
tibillion-dollar accounting scandal,
announced plans Monday to retire as
chairman and chief executive officer.
Qwest shares fell 8 percent.
Notebaert, 59, said he will leave the
Denver-based company after the
director pick a replacement, although
no timetable has been established. He
is the third top-ranking executive to
announce plans to leave Qwest this
"The time has come for me to
spend more time with family and focus on other commit-
ments," Notebaert said in a written statement.
At a conference in New York later Monday, Notebaert
said, "I would not walk away if I didn't feel the legacy that I
left behind was very strong and that the platform that we put
in place was one that share owners could continue to benefit
and be rewarded by participating in."
In the past five years, Notebaert and his team toiled to turn
the company around and drew intense national interest with
a bitter bidding war for MCI that eventually was won by Veri-
zon Communications. Last year, Qwest posted its first operat-
ing profit since acquiring U S West, one of the former Baby
Bells, in 2000.

Home care workers are
not entitled to overtime pay
under federal law, the U.S.
Supreme Court ruled Mon-
day, a setback for a growing
labor force of more than
1 million people.
The unanimous decision
came in the case of Evelyn
Coke, a 73-year-old retiree
who spent more than two
decades helping the ill and
the elderly and is now in
failing health herself.
The Labor Department
did not exceed its authority
when it excluded home care
workers from overtime pro-
tection and "courts should
defer to the department's
rule," Justice Stephen
Breyer wrote, relieving
. .pjloyers and angering
workers' rights groups.
,- The Clinlon administra-
tion had drafted a regulation
to cover the workers, but it
was shelved after President
Bush took office in 200L

International Business
Machines (IBM) said
Monday it had agreed to buy
Swedish software provider
Telelogic (TGIAF) for
$745 million in cash, bolster-
ing IBM's portfolio in
defense, telecommunica-
tions and the automotive
IBM said Telelogic will
fit into its Rational software
division. Telelogic is IBM's
43rd software acquisition
since 2001, and IBM plans to
maintain an aggressive
acquisition strategy.
Telelogic products help
companies develop and test
software used in complex
systems such as aircraft
radar or anti-lock brakes.

Toronto-based Brook-
field Asset Management
(BAM) has made an all-
cash takeover bid for Multi-
plex Group (MLXXF)
that values the Australian
construction and property
business at about $6.1 bil-
The companies said in a
joint statement that Multi-
plex directors support the
Multiplex has been trou-
bled by delays in its redevel-
opment of London's iconic
Wembley Stadium in recent
years. It revealed earlier this
year that it had received a
conditional offer.

Shares in London-based
Barclays PLC (BCS) rose
Monday following reports
that a U.S. hedge fund had
bought a stake in the bank
and was opposing Barclays'
bid to take over ABN Amro
Holding (ABN).
The Wall Street Journal
and the Financial Times
reported that New York-
based hedge fund firm Atti-
cus Capital acquired shares
and met with the bank to
discuss whether it should
drop its friendly $83.7 billion
all-share bid for ABN Amro.
The Dutch bank is also
the target of a hostile bid led
by Royal Bank of Scotland.
Barclays declined to say
whether any meetings were
held. Barclays shares rose
. early L5 percent to $14.44
.Monday in London. ABN
fell less than one percent to
$47.09 in Amsterdam.

AirTran (AAI) again
extended its bid for Mid-
west Airlines (MEH) on
Monday, three days before
Midwest's annual share-
holders meeting.
The Florida-based Air-
Tran set Aug. 10 as its new
deadline to tender shares of
Midwest, allowing time for a
new board of directors to be
certified and consider the
takeover offer.
AirTran has offered cash
and stock worth $389 mil-
lion for the Milwaukee-
based parent company of
Midwest, which has repeat-
edly rebuffed the offers.

Nokia (NOK), the
world's largest mobile
phone maker, said Monday
it filed a patent infringement
countersuit against chip-
maker Qualcomm
(QCOM) in an ongoing bat-
tle over wireless technology.
Nokia filed the lawsuit in
a Texas court, seeking dam-
ages and injunctive relief.
The lawsuit deals with
claims of unauthorized use
of Nokia's Brew and Medi-
aFlo patents, which allow
fast, high-quality transfer of
audio and video multimedia
to wireless subscribers.
Qualcomm had filed a
patent infringement lawsuit
in Texas against Nokia in
April, saying Nokia
infringed on patents for the
GSM standard, prevalent
outside the United States.



635 pnmL
103 .2

BrdrdgFn n
AT&T Inc


Chg. volnr
+.02 1570
-.05 1502
-.01 1319
-.74 1264
-.02 1062


Apple launches browser for Windows

Associated Press
Inc. launched a version of its
Safari Web browser for Win-
dows PCs on Monday, pitting
it against Microsoft Corp.'s
dominant Internet Explorer
and Mozilla's Firefox.
"What we've got here is the
most innovative browser in
the world and the most power-
ful browser in the world,"
Apple CEO Steve Jobs said
during, his keynote speech at
the company's Worldwide
Developers Conference.
Safari, which was released a
few years ago for Apple's
Macintosh computers, has
more than 18 million users,
Jobs said about 5 percent of
the world's browser market
Internet Explorer, which is
built into Windows, has a 78
percent share, while Firefox
has rapidly climbed to gain
about 15 percent of the market,
he said. Like the other Web
browsers, Safari is available at
no charge.

JOINING SPEED RACE: Apple chief executive Steve Jobs
talks about the Apple Safari for Windows, right logo,
and Safari for Mac, left logo, at the Apple World Wide
Developers Conference in San Francisco on Monday.

Jobs asserted that Safari
performs twice as fast as its
Never one to disappoint his
audience, the iconic chief
executive in his final high-

light of his 11/2 hour speech -
said Apple's upcoming iPhone
will run Safari.
That means, Jobs said, that
any application designed to
run on the Safari browser for

Macs also would be fully com-
patible with the iPhone -
Apple's highly anticipated
combination cell phone, iPod
and wireless Web browser.
The iPhone will be available in
the United States on June 29.
The move to make Safari
available to non-Mac users is
not unprecedented: Apple also
makes its iPod media players
and iTunes Store for Win-
dows. The strategy is aimed in
part at drawing more people
to its Macintosh computers.
It appears to be paying off.
Mac sales have grown signifi-
cantly over the past two years,
pushing its slice of the PC
market in the United States
from 3.5 percent in 2004 to 4.9
percent in 2006, according to
IDC, a market research com-
"Safari is another Trojan
horse that introduces an inno-
vation of Apple to the Win-
dows community and entices
them to the Mac platform,"
said Tim Bajarin, an industry
analyst at Creative Strategies,
a technology consultancy.


Exports fuel a Polish boom

Associated Press
Three waitresses dish out waf-
fle cones topped with scoops
of strawberry, lemon and
apple gelato as fast as they can
at the Cafe Rialto.
Even on chilly days, the line
stretches out the door, one
more sign of Poland's eco-
nomic boom that is putting
cash in people's pockets and
whetting appetites for every-
thing from upscale ice cream
to sleek plasma televisions.
Increasing demand spurred
Robert Buerger, who opened
his cafe in 2001, to invest
$33,600 in a new gelato mixer
in March. He already employs
nine workers and plans to
open a second ice cream par-
lor sometime this year.
"People have more money
to spend and are more open to
spending it," he said. "I see
how the market is developing,
and if I don't open another
shop I know somebody else
Three years after Poland's
accession to the European
Union gave the economy its
initial kick out of its doldrums
and threw open the doors to
Polish exports, investment and
domestic demand have taken
the lead in driving the coun-
try's robust growth.
Poland's economy
expanded 7.4 percent in the
first three months of the year,
the best quarterly result since
7.6 percent in the second quar-
ter of 1997. That comes after a
healthy 6.7 percent for all of
2006 that far outpaced the
euro zone's 2.7 percent.
"Everything is in the right
place," says Mateusz Szczurek,
the chief economist for ING
Bank Slaski in Warsaw. "You
have the wheels spinning with
wage and employment growth
fueling creditworthiness, and
all three fuel consumption and
that boosts sales margins, and
margins lead to investments
and further wage and employ-
ment growth.

CONSUMERS SPENDING FREELY: Customers check out flat-screen televisions on opening
day at a new electronics super store on the outskirts of Warsaw earlier this month.
Poland's economy expanded 7.4 percent in the first quarter, the best quarterly result
in a decade. Unemployment, at around 13 percent, is Europe's highest.

"It all adds up to a very,
very healthy growth."
In Warsaw, shoppers lug
home Hugo Boss suits and
Prada dresses below the glass
skyscrapers and cranes that
tower over construction sites
swarming with workers.
Even in Ostroleka, a town
about 75 miles northeast of
Warsaw, the trickle-down
effects can be felt.
"Normally, my profits rise
about 10 percent annually, but
this year they will definitely be
higher maybe even 20 per-
cent," said Buerger over a cup
of imported Italian coffee at
his cafe. At the granite-topped
tables, families in church
clothes languidly lick ice
cream cones after a late Sun-
day morning Mass.
After the lean years of the
early 2000s when the econ-
omy stagnated and unemploy-
ment soared to a post-commu-
nist high of 20.7 percent,
analysts say Poland now is
benefiting from the fastest
investment growth in a dec-

Marta Petka, an'analyst at
Raiffeisen Bank in War-
saw,said the current economic
expansion started when
Poland joined the EU in 2004.
"The first kick to the econ-
omy was from exports," Petka
said. "And then exports gave a
push to the next growth loco-
motive investment."
EU development funds -
some $81 billion for 2007-2013
- have given the economy a
nudge, as has investment in
manufacturing plants by inter-
national companies like Sharp,
Toshiba and LG.Philips.
But in many areas it is now
Polish businesses that lead the
way. Companies large and
small are pumping funds into
new projects, helping to cut
the EU's highest jobless rate to
an estimated 13.1 percent in
On top of that, domestic
demand has now taken on a
greater role in driving growth
as rising wages have fueled
creditworthiness for individu-

als and private consumption,
says Ryszard Petru, the chief
economist at Bank BPH.
Electronic retailer Saturn
and rival Media Markt both
praised the dynamism of the
Polish consumer market and
plan to open new outlets,
while Swedish retail giant
IKEA intends to build a new
store in the central city of
Lodz and expand its seven
current sites.
Analyst Szczurek notes that
because Poland has only expe-
rienced one business cycle
since the fall of communism in
1989, "no one really knows
what the Polish economy is
capable of."
"That's the biggest question
mark," he says.
Still, most analysts agree
that Poland's economy may
cool slightly in the next two to
three years, but 'still forecast
growth rates at over 5 percent,
which should push unemploy-
ment down into the single dig-
its for the first time since the
early 1990s.


Chicago's 'bank with a heart' is thriving

Associated Press
CHICAGO Opening a
bank aimed at improving the
quality of life in poor urban
areas was supposed to be a
notion doomed for failure.
The demise of ShoreBank,
which promotes everything
from redevelopment to minor-
ity businesses to environmen-
tally responsible lending, was
so predictable that a univer-
sity professor came running to
document its beginnings for a
case study on business failure.
"Well, think about it,"
laughs Mary Houghton, one of
e four co-founders of ShoreBank
o and currently its president.
09 "Two black guys, a white Pol-
7 ish guy and a white female
0o going into a black neighbor-
93 hood to buy a failing bank."
2 Thirty-four years later,
8 ShoreBank is flourishing with
0 a global reputation far out of
proportion to its $2.1 billion in

assets. The nation's first com-
munity development and envi-
ronmental bank has branched
out to Cleveland, Detroit, the
Pacific Northwest and abroad,
where Shorebank Interna-
tional provides loans to bud-
ding entrepreneurs and mort-
gages to homeowners in
Africa, Asia and East Europe.
Despite its altruistic slogan
- "Let's change the world" -
this is no charity organization.
The Chicago-based company
reported net income of
$53 million last year.
Its biggest impact has been
in what it calls community-
minded investing.
"They're a bank with a
heart," said Andres Schcolnik,
and he should know. The Chi-
cago architect and developer
saved the landmark Grand
Ballroom from the wrecking
ball thanks to a ShoreBank
loan. Its subsequent rehabilita-
tion into a rare architectural

jewel on the hardscrabble
South Side makes it a show-
piece for the bank's work.
Once frequented by such
stars as Cab Calloway, Dizzy
Gillespie, Count Basie and The
Temptations, the 84-year-old
building was a shambles when
Schcolnik acquired it four
years ago and began a $3 mil-
lion renovation. Today it hosts
everything from gospel to bar
mitzvahs, boasting the facili-
ty's fully restored orchestra
shell and 60-foot wooden bar,
chandeliers from the Lyric
Opera and a cherry wood floor
fit for a Chicago mayor to
dance on.
"This would have been
impossible to finance any-
where else," he said. "At other
banks, they package things so
there's no risk for the bank
ShoreBank was founded on
the '60s-era idealism of Ron
Grzywinski, Houghton, Milton

Davis and James Fletcher (the
latter two now deceased), who
together ran one of the
nation's first minority small
business loan programs. Intent
on finding ways to reverse the
decline of inner-city Chicago
neighborhoods, they zeroed in
on redlining a once-routine
denial of credit and services to
customers in poorer areas.
The four young bankers
raised $800,000 in capital bor-
rowed $2.4 million to buy the
failing South Shore National
Bank in 1973, using it as a
model for their then-novel
idea that private bank capital
could be used to achieve social
Underscoring ShoreBank's
defiance of big-bank practices,
Grzywinski still chairman
today was the only banker
to testify in favor of the Com-
munity Reinvestment Act
which Congress passed in
1977, banning redlining.

Stock T1r.
iShR2K nya IWM
SunMicro SUNW
TimeWarn TWX
DukeEgys DUK
Kraft KFT
US Bancrp USB
BrcdeCm BRCD
fthoo YHOO

For up-to-date stock quotes, go to www.MiamiHerald.com and click on I




THE MIAMI HERALD I MiamiHerald.com



commits to


of port relocation

P rime Minister
Hubert Ingraham
has committed to
examining the busi-
ness plan for the relocation of
all commercial shipping facili-
ties from downtown Nassau to
a new port in southwest New
Providence, which is being
developed by Dutch firm
The Nassau Tourism and
Development Board (NTDB)
said in a statement that during
a two-hour meeting with the
Prime Minister last Friday, Mr
Ingraham said he was open to
the port's relocation, but the
project must not cause an
undue financial burden to the
The ECORYS plan, due to
be completed shortly, will
examine the proposed port's
financial feasibility based on a
variety of cost-profit projec-
tions for various design and
uasge proposals. Recommen-
dations on potential design,
management and ownership
structures will be made.
"The Prime Minister's ques-
tions regarding the cost of the
port are the same which we
have raised in the past, and
that is one of the reasons why
the previous Government
undertook the study which
ECORYS is completing. The
NTDB believes the port relo-
cation is pivotal to the city's
redevelopment, but also
believes it must make long-
term economic sense," said
Charles Klonaris, the NTDB's
chairman, and co-chair of the
Nassau Economic Develop-
ment Commission (NEDC)
and downtown redevelopment
joint task force.
He added: "The revitalisa-
tion of the historic city of Nas-
sau is a process which has been

underway for many years. We
have welcomed and appreciat-
ed the support of every gov-
ernment, and are pleased that
the Prime Minister has
renewed his commitment to
the public and private part-
nership, which is so essential
to the transformation of our
"Traffic congestion and the
lack of parking is plaguing the
city at an unprecedented level.
It is exacerbated by increased
traffic to Paradise Island,
increased trucks and shipping-
related traffic and the lack of a
comprehensive plan to deal
with jitney congestion. Solu-
tions to these problems don't
need to wait. The public is
becoming increasingly frus-
trated by the congestion and
solutions must be advanced

The meeting with Mr Ingra-
ham was also attended by Nor-
man Solomon, the NTDB's
honorary chairman and former
NEDC co-chairman; Charles
Carter, NEDC co-chair; Frank
Comito, ex-executive director
of the NTDB; and Suzanne
Pattusch-Smith, NTDB exec-
utive director.
The meeting focused on
three key issues the imple-
mentation of a Downtown
Management Authority and
Business Improvement District
to better manage and develop
the city of Nassau; implemen-
tation of a comprehensive traf-
fic and parking plan for the
city; and the relocation of the
commercial shipping port to
the Southwest part of New

.; .. bn-

Bahamas braces.for 10%

room inventory drop

FROM page 1

impulse and group visitors to the Bahamas, and
the fact that the Bahamas now competes
unevenly with US island terriorties Puerto
Rico and the US Virgin Islands who do not
have the passport requirements and are mar-
keting themselves as such.

Mr Grant added that he was pleased by the
relaxation of the WHTI requirements, which
enable persons awaiting their actual documents
to fly to the Bahamas with a passport receipt
until the end of September 2007, as it will assist
summer group travellers.
This challenges will lead the Ministry of
Tourism to undertake "aggressive promotional
programmes to get tourists to come to this coun-
try", he said.



Betty K Agencies

is pleased to announce that our Nassau

Office and Warehouse will re-open for

business on Saturdays between the hours

of 8:00 am 12:00 noon effective,

16th June 2007.

We look forward to serving you and

appreciate your business.

Please contact our customer service

representative for more information

Tel: (242) 322-2142 or 322-2813






Legal Notice



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


Legal Notice



(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
8th day of June 2007. The Liquidator is Argosa Corp.
Inc., P.O.Box N-7757 Nassau, Bahamas.


Legal Notice

A A 1 ; 4 6 1 & .'

(In Voluotary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 23rd day of April 2007. The Liquidator is Argosa
Corp. Inc., RO.Box N-7757 Nassau, Bahamas.


Bahamas market access

offer on EPA 'questionable'

Mr Laing said.
"It is regrettable that we are
having to deal with this mat-
ter now, but it is what it is."
The minister's remarks indi-
cate that the FNM government
is going to take its time and
consider all the EPA's impli-
cations, slowing down the pace
at which the former PLP
administration, led by ex-for-
eign affairs minister Fred
Mitchell, was proceeding.
Mr Mitchell had been most
concerned to safeguard duty-
free market access for the likes
of Bacardi and the seafoods
industry, the rum exporter hav-
ing made it clear that it would
cease production and leave the
Bahamas, costing 183 jobs, if it
lost its preferential access to
the EU.
Yet Mr Laing's comments
indicate that the new admin-
istration wants to proceed
more cautiously, assessing
what impact signing up to the
EPA will have for the
Bahamas' two major econom-
ic earners, tourism and finan-
cial services, and other indus-
The Organisation for Eco-
nomic Co-Operation and

Development (OECD) and
EU have been seeking to use
the EPA as method to force
the Bahamas and others to sign
up to their tax information
exchange drive, something that
would damage this nation's
financial services industry,
although the CARICOM
Regional Negotiating Machin-
ery (CRNM) has said there is
no likelihood of this happen-
On the tourism front, while
the major hotels in the
Bahamas are already foreign-
owned, given that the EPA
requires reciprocal market
access and trade preferences
to be given to the private sec-
tor on both sides, the agree-
ment may pave the way for
European companies to set up
in businesses here that are tra-
ditionally reserved for Bahami-
ans tour operators, travel
agents and ground transporta-
Mr Laing, though, ques-
tioned whether the Bahamas
had already submitted a mar-
ket access offer on the EPA.
He told The Tribune yester-
day: "We will have to review
any offer that has been made. I

The Public is hereby advised that I, INDYA JADA
BANNISTER of P.O. Box EL 27227, Harbour Island,
Bahamas, intend to change my name to INDYA JADA
ARMBRISTER. If there are any objections to this
change of name by Deed Poll, you may write such
objections to the Chief Passport Officer, P.O.Box SS-
792, Nassau, Bahamas no later than thirty (30) days after
the date of publication of this notice.


NOTICE is hereby given that JULrAN ROBERT JAKUSZ
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 5th day of June, 2007
to the Minister responsible for Nationality and Citizenship,
P.O.Box N- 7147, Nassau, Bahamas.


Please be advised that I, Ezra Baillou, heir to
the estate of Isaac Baillou in the Blue Hills
Estate, have not given Everett Baillou or his
copartners, Enamae Bowen and Joanna Swain
power of attorney or consent to negotiate any
sales or exchange of moneys for land. I will not
be held responsible for any business transactions
conducted by either of them.

Signed Ezra Baillou

am not certain to what extent
that offer has been made by
the Government.
"It is questionable to me,
based on the information I
have, whether a submission
offer was made by the Gov-
A. Leonard Archer, the
Bahamas Ambassador to
CARICOM, had previously
confirmed to The Tribune that
he submitted the market access
offer to CARIFORUM at a
technical working group meet-
ing in the Dominican Republic
earlier this year.
The Bahamas initial market
access offer over the EPA
sought to exclude only about 2
per cent of this nation's indus-
tries, rather than the maximum
14-15 per cent permitted in the
talks due to the relatively min-
imal level of trade this nation
has with Europe.
Mr Archer explained this
nation sought exclusion -. or
reservations for only 2 per
cent of its economic sectors
"because what is the point of
excluding a product we're not
trading in"?
Of the industries excluded'
from the Bahamas' market
access offer, Mr Archer said:
"All of them are in the agri-
culture and fisheries sector."
He explained that these
industries, and those targeted
for exclusion or reservation by
the Bahamas, were those con-
sidered to have export poten-
tial, that have the ability to be
competitive if given some pro-
tection until they reached
maturity, or those where there
were national security impli-
Mr Laing yesterday told The
Tribune that the Government
was aware of the imminent
deadline for the Bahamas to
make offers, especially on ser-.
vices, over the EPA.
He added that the Govern-
ment was "trying to balance
the need to cater to that dead-
line and the broader needs of
the country as far as our par-
ticipation in any trade agree-
ments are concerned.
"We do not want to make
any isolated decisions on inter-
national trade that have broad-
er implications for any other
trade agreements. What we do
has to be consistent with a
broader approach to interna-
tional trade."

Fo h tre

beidth e s

Mr Laing said the FNM gov-
ernment had "been trying to
get up to speed on what has
happened" on the EPA, and
had met with the Bahamas
Chamber of Commerce and
other private sector respresen-
tatives to gauge their concerns
and obtain feedback.
. He confirmed that the Gov-
ernment planned to move
ahead with the accession
process towards full WTO
membership, and was prepar-
ing the Bahamas' Memoran-
dum of Trade Regime for sub-
mission in that regard.
The previous administration
was just waiting for the compi-
lation of the 2005 trade statis-
tics, expected to be complet-
ed. before year-end 2007,
before submitting that Mem-
orandum of Trade Regime.
Countries need .to submit three
years of consecutive trade data
when applying.
Mr Laing said the Govern-
ment was not tied to a
timetable for its WTO submis-
sion, but said the process for
accession to full membership
would take between three to
five years.
He then appeared to criti-
cise the former administration,
hinting that the WTO acces-
sion process had moved no fur-
ther forward than when the
FNM previously demitted
office in 2002.
A previous Government
document detailed that the
Bahamas exported some
$66.315 million worth of goods
to the EU in 2004, largely
made up of Bacardi's rum and
spirits products, lobster and
other sea food products, and
polymers from Polymers Inter-
national in Freeport.
If the Bahamas lost its duty-
free preferences by remaining
outside the EPA, the Bacardi,
Polymers International and sea
-food products would all see
their prices increase and
become uncompetitive.
For Bacardi, loss of duty-free
access would see tariffs
imposed on its rum equivalent
to $5 per gallon.
The Government document
said: "For the Bahamas, the
loss would be substantial, and
would include the loss of $13.
262 million in excise taxes, as
well as the loss of approxi-
mately 180 jobs for Bacardi's
Bahamian workers."
Just over $35 million worth
of sea food products were
exported to the EU from the
Bahamas in 2004, and loss of
duty-free access would lead to
a 12.5 per cent tariff being
This would raise the price of
Bahamian lobster by $2-$2.50
per pound, making it uncom-
"The loss to the Bahamas
would be the value of the lob-
ster exported, and the income
.loss of the Bahamian fisher-
men who catch the lobster, as
well as $649,259 in royalties,"
the Government analysis said.



The Anglican Central Education Authority invites
applications from qualified Individuals for the
position of Deputy Director of Education for
Curriculum and Supervision, beginning September

The applicant must have a Masters Degree in
Education from a recognized University, with at least
ten (10) years accumulative administrative
experience. The applicant must also be computer

Only qualified applicants need apply.

For further details and application forms, please
contact the Anglican Central Education Authority
on Sands Road at telephone (242) 322-3015/6/7.

Letters of application submitted with copies of Degree
Certificates, Curriculum Vitae, three references, and
three passport size photographs, must be addressed

The Director Of Education
The Anglican Central Education Authority
P.O. Box N-656
Nassau, Bahamas

The deadline for Application is Friday, June 29,

'C F A L'
Pricing Information As Of:
MIonday 11 June R2007
--.'.-1. 5,- L, ... r. P...,:,u_ CI..,e To3a,5 Cose .'5. .Cranage Dal, o EPS S DwvS PiE YIeld
1.6 0.54.1 .-c, r.l. ,s 1 16 1 18 O-' -0282 0000 N.'M 0 00%
12.05 11.00 Bahamas Property Fund 11.50 11.50 0.00 1.548 0.400 7.4 3.48%
9.41 7.23 Bank of Bahamas 9.40 9.40 0.00 0 .260 12.8 2.77%
0.85 0.70 Benchmark 0.85 0.85 0.00 -0.130 0.020 N/M 2.35%
2.95 1.30 Bahamas Waste 2.95 2.95 0.00 0.243 0.060 12.1 2.03%
1.49 1.20 Fidelity Bank 1.30 1.30 0.00 0.064 0.020 20.3 1.54%
10.60 9.00 Cable Bahamas 10.60 10.60 0.00 0.949 0.240 11.2 2.26%
2.15 1.80 Colina Holdings 2.15 2.15 0.00 0.245 0.080 8.8 3.72%
14.55 10.60 Commonwealth Bank 14.55 14.55 0.00 1.152 0.680 12.6 4.67%
6.03 4.22 Consolidated Water BDRs 5.27 5.27 0.00 0.112 0.049 47.1 0.93%
2.76 2.40 Doctor's Hospital 2.40 2.40 0.00 0.234 0.000 10.3 0.00%
6.25 5.54 Famguard 6.20 6.25 0.05 1,000 0.894 0.240 9.0 3.84%
12.60 11.50 Finco 12.60 12.60 0.00 0.787 0.570 18.0 4.52%
14.70 12.43 FirstCaribbean 14.50 14.50 0.00 0.977 0.500 14.8 3.45%
17.30 10.77 Focol 17.30 17.30 0.00 400 1.657 0.520 10.4 3.01%
1.05 0.54 Freeport Concrete 0.54 0.54 0.00 -0.432 0.000 N/M 0.00%
10.20 7.10 ICD Utilities 7.28 7.25 -0.03 1,000 0.532 0.100 13.6 1.38%
9.50 8.52 J. S Johnson, 9.50 9.50 0.00 0.868 0.570 10.9 6.00%
10.00 10.00 Premier Real Estate 10.00 10.00 0.00 1.167 0.600 8.6 6.00%
Fldelty Over-The--Counter Securlties- . ".II
52wk-Hi 52wk-Low Symbol Bid $ Ask $ Last Price Weekly Vol. EPS $ Div $ PIE Yleld
14.60 12.25 Bahamas Supermarkets 14.60 15.60 16.00 1.234 1.185 12.6 8.12%
10 14 10 00 Caribbean Crossings (Pref) 8.00 8.25 10.00 0.000 0.640 NM 7.85%
5J r, ,. C ,i.J..-. ,,J-1- ,5 2,0 034 0 000 26 2 000%
Coalna Over-Th'-Counter Seocurles
-3 ,, '.. .'-' .1 1..: J00i, i1 01 2220 0000 194 0 00%
14 60 14.00 Bahamas Supermarkets 14.60 15.50 14.00 1.234 1.125 12.6 7.71%
0 I O 5 PD HIoldiqng nA 4R 0 55 0 45 0.021 0.000 -26.2 0.00%
BISX Usted Mutual Funds.",
;- c ... .i .. ,L -.- F,.-.. ri3... .T -, La-i I.- .1:,r.ir, Yi. e -ld a
3.2018 2.9038 Fidelity Bahamas G & I Fund 3.2018.**
2.6629 2.3560 Colina MSI Preferred Fund 2.662852;*
1.2443 1.1695 Colina Bond Fund 1.244286..
11.5519 11.0199 Fidelity Prime Income Fund 11.5519"OSE 802 50 / YTD 08. 14 / 2 3."4, III
BISX ALL SHARE i-li i .. ,I ... . ". r s. i; i, ,,LL, I, 's 1. month dividends divided by closing price NAV Y
52wk-HI Highest closing price in last 52 weeks Bid $ Buying price of Colina and Fidelity
52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Collna and fidelity I Jure 2007
Previous Close Previous day's weighted price for dally volume Last Price Last traded over-the-counter price
Today's Close Current day's weighted price for daily volume Weekly Vol Trading volume of the prior week 30 April 2007
Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mill
Daily Vol Number of total shares traded today NAV Net Asset Value *. -31 May 2007
DIV $ -Dividends per share paid in the last 12 months N/M Not Meaningful
P/E -Closing price divided hy the last 12 month earnings FNDEX The Fidelity Bahamas Stock Index. January 1. 1994-100 30 Aprl 2007
..... 31 May 2007
TO TRADE CALL COLINA 242-502-7010 / FIDELITY 242-366-7764 r FOR MORE DAA.I



:.-- . :



P.O. BOX N-167
Nassau, The Bahamas
June 14, 2007

107 N. Elm Street in the Country of Champaign
in the State of Illinois, one of the States of

NOTICE is hereby given that after the
expiration of fourteen days from the date hereof,
application will be made to the Supreme Court
of The Bahamas in the Probate Division by
Drive in the City of Freeport on the Island of
Grand Bahama, one of the Islands of the
Commonwealth of The Bahamas, Attorney-At-
Law, the Authorized Attorney in The Bahamas
for obtaining the Resealed Grant of letters
testamentary in the above estate granted to
the Estate, by The Circuit Court, Probate
Division in the County of Champaign in the
State of Illinois, one of the States of the United
States of America, on the 11th day of October
Desiree Robinson
(for) Registrar

Probate Division

RO. BOX N-167
Nassau, The Bahamas
June 14, 2007

JR., late of 2842 Del Laws Road in the City of
Bear in the County of New Castle in the State
of Delaware, one of the States of the United
States of America,

NOTICE is hereby given that after the
expiration of fourteen days from the date hereof,
application will be made to the Supreme Court
of The Bahamas in the Probate Division by
Drive in the City of Freeport on the Island of
Grand Bahama, one of the Islands of the
Commonwealth of The Bahamas, Attorney-At-
Law, the Authorized Attorney in The Bahamas
for obtaining the Resealed Grant of letters
testamentary in the above estate granted to
Representative of the Estate, by New Castle
County, SS in the State of Delaware, one of
the States of the United States of America, on
the 11 th day of October 2005
Desiree Robinson
(for) Registrar

June 14, 2007
No. 2007/PRO/npr/00262

Whereas, CHRISTA WAGNER of 1180 Vienna,
Starkfriedgasse 51, Austria has made
application to the Supreme Court of The
Bahamas, for letters of administration of the
Real and Personal Estate of JOSEF WAGNER
late of 1180 Vienna, Starkfriedgasse 51, Austria,


June 14, 2007
No. 2007/PRO/npr/00265.

Jacaranda in the Western District, New
Providence, one of the Islands of the
Commonwealth of The Bahamas, Attorney by
Deed of Power of Attorney for David G. Baron,
the Executor has made application to the
Supreme Court of The Bahamas, for letters of
administration with the will annexed of the Real
and Personal Estate of SUSAN DENICE
of 5211 Gladehill Drive in the County of Harris
in the City of Houston in the State of Texas
one of the States of the United States of
America, deceased.

Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date hereof,
Desiree Robinson
(for) Registrar

June 14, 2007
No. 2007/PRO/npr/00266

Whereas, SHANNELLE SMITH of the Western
District of the Island of New Providence, one
of the Islands of the Commonwealth of The


Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date hereof.
Desiree Robinson
(for) Registrar

June 14, 2007
No. 2007/PRO/npr/00263

Whereas, EMERALD COLLIE of #27 Colony
Village, Eastern District, New Providence, one
of the Islands of the Commonwealth of The
Bahamas has made application to the Supreme
Court of The Bahamas, for letters of
administration of the Real and Personal Estate
of EDWARD COLLIE late of #27 Colony Village,
Eastern District, New Providence, one of the
Islands of the Commonwealth of The Bahamas,,

Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date hereof.
Desiree Robinson
(for) Registrar

June 14, 2007
No. 2007/PRO/npr/00264

Whereas, CYNTHIA POITIER of Park View
Avenue, Gleniston Gardens, Eastern District,
New Providence, one of the Islands of the
Commonwealth of The Bahamas has made
application to the Supreme Court of The
Bahamas, for letters of administration of the
Real and Personal Estate of PHILIP POITIER,
SR., late of Park View Avenue, Gleniston
Gardens Eastern District, New Providence, one
of the Islands of thfe Commonwealth of The
Bahamas, deceased&

Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date hereof.
Desiree Robinson
(for) Registrar

Bahamas has made application to the Supreme
Court of The Bahamas, for letters of
administration with the will annexed of the Real
and Personal Estate of KWAN KING HO (a.k.a.)
HO KWAN KING (a.k.a.) K. K. HO late of No.
4 Goldsmith Road, Jardine's Lookout, Hong
Kong Special Administrative Region, Hong
Kong, deceased.

Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date hereof.
N. Neilly
(for) Registrar

Probate Division

June 14, 2007
No. 2007/PRO/npr/00267

Whereas, ELEANOR MUSGROVE of Charlotte
Ridge Subdivision in the Western District of
the Island of New Providence, one of the Islands
of the Commonwealth of The Bahamas has
made application to the Supreme Court of The
Bahamas, for letters of administration of the
Real and Personal Estate of FELIX
MUSGROVE II late No. 42 Charlotte Ridge
Subdivision in the Western District of the Island
of New Providence, one of the Islands of The
Commonwealth of The Bahamas, deceased.

Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date hereof.
Nicoya Neilly
(for) Registrar

PO. BOX N-167
Nassau, The Bahamas
June 14, 2007
Probate Division
2007/PRO/npr/00269' ; ,

of 3340 Cambridge Drive in the County of Clark
in the City of Springfield in the State of Ohio,
one of the States of the United States of

NOTICE is hereby given that after the
expiration of fourteen days from the date hereof,
application will be made to the Supreme Court
of The Bahamas in the Probate Division by
District of the Island of New Providence, one
of the Islands of the Commonwealth of The
Bahamas, Attorney-At-Law, the Authorized
Attorney in The Bahamas for obtaining the
Resealed Letters of Authority in the above
estate granted to DONN NIGHTINGALE,
Executor of the Estate, by the Probate Court
of Clark Count, Ohio, on the 1st day of August
N. Neilly
(for) Registrar

June 14, 2007
No. 2007/PRO/npr/00270

Air Estate off Carmichael Road in the Southern
District of the Island of New Providence, one
of the Islands of the Commonwealth of The
Bahamas has made application to the Supreme
court of The Bahamas, for letters of
administration of the Real and Personal Estate
Bel-Air Estates off Carmichael Road in the
Southern District of the Island of New
Providence, one of the Islands of the
Commonwealth of The Bahamas, deceased.

Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date hereof.
Nicoya Neilly
(for) Registrar



Bahamasair: Government will explore all options

read Insight o Mod



With knowledge in electrical
and plumbing

Worker must be able to work a
12 hour shift.

Please contact us at:
1-(242)-377-0444-6 or
Fax resume to 1-(242)-377-0276.

Serious Inquires Only


Teach 2 school age childpen (4 1/2 & 7 1/2) in home setting.
Must possess supeplop vephal and wpiting skills. Willing to
use cpeative teaching techniques. Must have a passion fop
education. Willing to ppomote cpitical thinking and leadepship
skills in childpen. Wopking houps 8:00 a.m. 1:00 p.m.
Skills: bachelops degpee, 3 yeaps of expepience, excellent
computer skills.. Knowledge of Spanish a plus. Stapt date
August 27, 2007.


Tribune Business Editor
The Government is
keeping all options
open on Bahama-
sair's future, the
minister responsible for the
national flag carrier told The
Tribune, and will explore both
full privatization of the airline
and hiring a mangement/oper-
ating partner to run its opera-
Branville McCartney, minis-
ter of state for tourism and avi-
ation, told The Tribune: "We
will be exploring both avenues
to see which is more beneficial
for Bahamasair. It's something
that we will have to take into
consideration in both spheres,
to see which is more benefi-
Mr McCartney said the FNM
had committed in its Manifesto
to searching out a strategic part-
ner for Bahamasair, which has
been a consistent drain on the
Bahamian taxpayer and the
Public Treasury since inception.
The previous PLP govern-
ment spent $1 million on com-
missioning a report by McKin-
sey, the world-renowned man-
agement consultants, on how
Bahamasair could be improved

and readied for possible pri-
Mr McCartney said that
while he had heard about the
McKinsey report, he had not
seen it, and after the Budget
debate was completed would
be in a better position to assess
this and all other information
related to Bahamasair.
The national flag carrier con-
tinues to be a drain on the pub-
lic purse, and in the 2007-2008
fiscal year is due to receive an
$11 million subsidy from central
government to keep it in the
air money that could be better
spent on social and infrastruc-
ture projects.
The subsidy is a $1 million
increase on the $10 million allo-
cated for 2006-2007, but previ-
ous estimates have often under-
estimated Bahamasair's capital
needs. In the 2004-2005 fiscal
year, the Government had to
spend $31.937 million in subsi-
dies to Bahamasair, with anoth-
er $23.107 million ploughed
into the airline in 2005-2006.
During his Budget debate
contribution, Mr McCartney
said Bahamasair was expected
to lose $16 million in its upcom-
ing 2007-2008 financial year, a
$2 million decrease from the
$18 million loss projected for

the financial year ending on
June 30, 2007, an improvement
that is "not enough to decrease
the drain on the public purse".
"To continue to operate a
fleet with an average aircraft
age of 20 years will result in the
losses increasing exponential-
ly, with the consequence being
increasing funding by the Gov-
ernment, funding which is aver-
aging over $25 million each
year," Mr McCartney said.
Included in Bahamasair's $20
million loss for its year ending
on June 30, 2006, was $2.5 mil-
lion in back pay for the renew-
al of contracts for the airline's
four unions, all of which had
expired for two years.
Bahamasair has been contin-
ually squeezed on two sides
over the past several years, its
revenues coming under pres-
sure from both low-cost carriers
such as Jet Blue, which under-
cut it on ticket prices via lower
operating costs, and Bahamas-
based charter operators that
handle Family Island routes -
some of which were outsourced
by Bahamasair.
On the cost side, Bahamasair
has struggled to cope with high

global oil prices and fuel costs,
leading many to question why it
does no hedge its fuel purchas-
"Bahamasair has seen its
annual fuel bill increase from
$9 million in 2001 to $21 million
in 2006, which is an increase of
over 130 per cent with no
matching increasing in rev-
enue," Mr McCartney said.
"Bahamasair's projected rev-
enue for the year ended June
30, 2007, is the same as for 2006,
and the budgeted revenue for
the year ended June 2008 is
expected to show only minimal
growth of $1 million."
Although the airline had
experienced several years of
revenue growth, increasing this
from $66 million in 2004 to $73
million in 2005 and $77 million
in 2006, expenses had grown
even more.
At year-end June 30, 2005,
the amount of government sub-
sidies ploughed into the strick-
en airline stood at just over
$290 million, with the accumu-
lated deficit standing at almost
$378 million.
Bahamasair's current and
total liabilities then exceeded
current and total assets by
$72.083 million and $78.636 mil-
lion respectively.

New cruise terminal, from Page 1

Grand Bahama economy," Mr
Grant said.
He added that the wider
impact from the loss of the
1,300 rooms, at average occu-
pancy levels and based on tra-
ditional Grand Bahama visi-
tors' per capital spend, trans-
lated into a drop of some $270
million in gross spending that
has yet to be recouped.
While he noted that the
acquisition of the property by
Harcourt Development Com-
pany was a step in the right
direction, the loss of income
for the economy and the loss
jobs among Grand Bahamians
had made the restoration of
the Royal Oasis a priority.
Mr Grant said that as a
result of the hotel's closure,
many salaried workers are rou-
tinely working three and

sometimes two days a week
as an alternative to being laid
Also, he said taxi drivers
"are lining up and often sleep-
ing in their vehicles" in order
to get near the front of lines
to pick up fares from the Har-
bour, their most lucrative
route. Mr Grant said that there
are days when they return
home with just a single fare
despite their family's financial
He added that vendors, and
store and restaurant owners,
have either lost their business
completely or are struggling to
stay alive.
The Ministry of Tourism will
spend an estimated $8 million
on Grand Bahama's develop-
ment and promotions, as the
FNM government begins a

"full court press" in the first
year of office to restore the
island's almost dormant econ-
Mr Grant said: "We are
working swiftly and closely
with the Harcourt Group to
ensure that the redevelopment
takes place within the fastest
timeframe, so as to cause for
new direct employment in the
construction stages alone by
the end of the year, and in the
tourism services area by winter
He said the Government will
also engage the operators of
Grand Bahama's 1200 room
Our Lucaya, operated by Star-
wood's Westin and Sheraton
brands, along with their casino
operator, Isle of Capri, to
renengerisie marketing their

The Accord has achieved Car and Driver magazine's "10 Best"
status 21 times in 25 years. The Accord has consistently
been among the top five best-selling automobiles in the US.
The Honda lineup is always top-rated for fit and finish,
ergonomics, road handling, reliability and resale value. The
Accord was chosen by Consumer Guide as a "Best Buy"
Midsize Car from 81 competitors. Need we say more?

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

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

24-monthl24000-Mile factory warranty.

O Shirley Street* Nassau, Bahamas
Tel: (242) 328-2285 Fax: (242) 323-7
Website: www.hondabahamas.com



The Tech Prep Program is a series of courses designed to help
students develop their academic skills in the areas of Math
and English, before proceeding with their regular curricula
courses in the fall.

Classes Begin: June 25, 2007

Classes End: August 3, 2007


Bahamian $50.00
International $150.00






admission office at50-2w6300t



gnomon %I

0 D> CC3*
0, 0,C C')

?OD c'co,

^ a>
-91 C 00 0 4


m co ~~ i~-.jma) CU
J~oeOT}^~pB nCO~J _4o) C 0 ;.JC ',

C: l 0o *- 4 o w Dc
Z. co ^ ,

-4 o d"* ca 00 o oo i C30 LO at~ soo0 '
(AD -4 o~o o a c o c 00r 3S^

i r% ZZ^ S ^ ^g a" "*" 3 s^ w

.g CY ? 4b Csn C71 M G) C7, .

!M ENR0 IC~OOO OO L M D(ac 00 ca iz*S

2ysn^ffc;D3 -- -,wCZDgJ g^W LQ" (wo U

StN^ ^ ^ --- o ''*C?! 2 < 'f
r.: o ~ (n -4 C) -j J^

w C |- v) I
Ma 00 C 00
CD C ) CD'

Coo 00-J"4i C OW -.-C-0 o j=cr- '

0 0C -tj -j i r CI 0o 00 -4 (r
o W C w C, Fl.)- CJ )w 04 .JC, CW (-71 "
-J0M00 '.449 M & Mj M

co C:)- U 0N 0 -4N3 -4 C --4

W.ZC21 W LDb.N D wCm C,
3 <3 c 0 N) 3 N4 ) ca w ir3 0 1) 03
M> -j mj m w wr ^d tnrpc

a)- A3co a, ctO ~-5

cn/ *g V,'* -0 ? 1= -0 o ig t










(0) C

en CD


F- =
a ~ ~


0 0

s g



2. C



; C2

C., C;




CO3 0.2

,< a



n1 *


& kC2

N) 0)
3 0r '-

B ^^&n OR cl
^^ 5' co

.i, ,f i^' ..
CA 3 .

;3 C~

f (

to -0 V 00
0 0 0- 0 0 00
-. CO .D. -J .3 33

j C) 0 0 C19 C
c') C-) c) C> C ) n

co (am G r!
C4 CJ1 w* CnI

0 LA |Si'a -

0 r 0 CC, ,4,; C',
-0 0 -. w sr.1&
3?' g R1i ,' !S; I E;* C c *
t)* E!! C. 926'* *

to 0 go ; '
~ 0

00 coCco co a) Lo coi. al -4 co 00 -.1 IMO 151"
L' C Ni C

V D~Cl C 0 ii C -~C'./'CS i CC) E'V -:UC.CSC 1-g- 5,' CD 'CiS0 C.CA..0
=!! C ) (IC C, C, C, C' C C ! ' ,

C- w-0
-5m 0 -4 -.n -N)-'-rin* i -LVI -.rU'-J m 00 a ,
to .1% 03 o W C" CA a, L" 00 .1 -Z = X.
CDC! D g:'.0 -j 0a Ci000 coO
~~.it CiiO i.n Z-, z,- W : 0rL' Cn lMC, C n 4 a. fl C O TCiCi0) -4 J i -Cr i7,%l '.JO. ..CJJOZ 0 .- 0, iiCto,) II c)0
cC-0w- w C o a 0n IA- ., o ig -0 00 0 C V &Ci -*.
CLo C) n n C) C'
C-)~ Bss Sslis^lSg^SSS^gssgss~~a~s
"Eig gns gws ws co mg sgoa .31a? -4 s goo 0 2 n tDgt a)UD
2la 100.g -4 C3l C" -1 -j K^ SsB^S SSw T g ^ -. w C"c J.. X^S'^ sg"I
S-? <^^ nc'.>^ -^ "-ci~~o -..-,^C tnP' Rn^ .-^ ^ e- T- --? --4- ^'. Q -"Lz?- -. r Z"- "* "S ""


LY'.~ ~CCr' C~)'C~', C C.

* -a

11 rII-- RlF F,

i' s ,., ,

i^ B
i :. 3"l:

: L, 3

^ BtM,_9








- ,,,,,


__ I~



C. ~ 4


V- J









TICKET LOCATIONS: Burns House Locations
Budget Liquor, Bernard Rd Bahamas W'.o '-.. Wines & Spirits, Shirley St
Saunders Beach Liquor Store, Saunders R .ch Bu.s House, J.F.K. Drive
and at The Jukebox, Mall at Marathon

17 ,- ,-M-,.,--,- a 1\ I-"

i "i ~P~I1