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Permanent Link: http://ufdc.ufl.edu/UF00084249/02915
 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: 6/13/2007
 Subjects
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
sobekcm - UF00084249_02915
System ID: UF00084249:02915

Full Text






DESSEIS 'mlovin'it

HIGH 88F
LOW 74F

CLOUDS AND
". SUNSHINE


The


Tribune


Volume: 103 No.167


WEDNESDAY, JUNE 13, 2007


PRICE 750


RON RICARDO and 2/

320,000 SECRET SOUND


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Three incidents

within 24 hours


* By ALISON LOWE
Tribune Staff Reporter
THREE separate shootings
within twenty-four hours occur-
ring less than a mile apart in an
East Street community have left
two people dead and one in critical
condition raising the spectre of
gang-related violence.
The week began with yet anoth-
er round of firearm-assisted bru-
tality Monday evening when two
young men were gunned down -
one on each of the roads that runs
parallel to the Church of God of
Prophecy off East Street.
One man died that evening of
gun shot wounds to his head, while
a second is being treated in hospi-
tal.
On Monday police were uncer-
tain whether the incidents were
committed by the same person, or
were in any way connected. No
one has yet been detained in con-
nection with the shootings.


Later, yesterday afternoon at
around 3 o'clock as school chil-
dren flooded the streets, a 21-year-
old, believed to be D'Angelo
Armbrister, was found shot in the
face outside his girlfriend's moth-
er's home on Brougham Street -
the road that runs directly opposite
Church of God of Prophecy, on
the other side of East Street.
While police would not confirm
his identity, neighbours and others
in the large crowd that had gath-
ered were convinced, due to the
location of the body outside
the house of his girlfriend's moth-
er and other factors, that it was
indeed d'Angelo.
His body lay in the road, his
head in a pool of blood, as friends
and relatives broke down in the
street on hearing of his death.
Meanwhile, his three-month-old
daughter was held by a family
friend, on whose shoulder she
SEE page 10


Female store clerk
dies after stabbing
* By DENISE MAYCOCK
Tribune Freeport Reporter
FREEPORT A young female store clerk who was brutally
stabbed while at work in Eight Mile Rock died early Tuesday
morning at the Rand Memorial Hospital.
Roselyn Louis, 20, a resident of Hepburn Town, Eight Mile
Rock, died of her injuries around 1.05am in the Intensive Care Unit.
Her death pushes the murder count on Grand Bahama to seven for
the year.
Ms Louis, an employee of 'Keeping Babies Until Two' store, was
discovered lying on the floor in the store in a pool of blood on Mon-
day.
Chief Superintendent of Police Basil Rahming said the police are
seeking the public's assistance in capturing the perpetrator of this
SEE page 10

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US report: Bahamas may face problem
of labour exploitation of immigrants


* By KARIN HERIG
Tribune Staff Reporter
THE Bahamas may be fac-
ing a significant problem of
labour exploitation of immi-
grants, according to the US'
annual human trafficking
report.
For the second consecutive
year the Bahamas has been des-
ignated as a "special case" in
the US Department of State's
Trafficking in Persons report.
Addressing the media on the


report yesterday, Dan O'Con-
nor, chief political, economic
and public diplomacy officer at
the US Embassy, said that
although the Bahamas is still at
the "lowest rank of concern"-
unlike most of the region -
there is data that suggests that
the country has a possible
labour trafficking problem.
Mr O'Connor explained that
although the 2007 report on the
Bahamas is very similar to that
SEE page 10


* ABOVE: Police remove the body of a 21-year-old man who
was fatally shot on Brougham Street yesterday.
(Photo: Tim Clarke/Tribune staff)
LEFT: The body of a 20-year-old man is carried by police
near the Church of God of Prophecy off East Street.
(Photo: Felipi Major/Tribune staff)


P I I







* By PAUL
TURNQUEST
Tribune Staff
Reporter
THE Progressive Liberal
Party approved $90 million
worth of contracts in the
Ministry of Works from
January of this year up until
the general election on May
2, newly appointed Minister
of Transport and Public
Utilities Earl Deveaux told
the House yesterday.
This figure is some $30
million more than the PLP
had projected in any budget
it presented from 2002/2003
to 2006/2007.
During his Budget con-
tribution, Mr Deveaux
revealed that of the 29
major projects, valued
above one million dollars
SEE page 10


Minister claims PLP
spending left the
Bahamas Mortgage
Corporation unable
to pay contractors
By BRENT DEAN
Tribune Staff Reporter
WHEN the FNM came to
power the Bahamas Mortgage
Corporation was at the stage
where it was unable to pay con-
tractors, due to the irresponsible
spending of the former govern-
ment, according to Kenneth
Russell the new Minister of
Housing and National Insur-
ance.
Mr Russell told the House,
during his budget contribution,
that one of the first pieces of
correspondence he received as
minister was revealing the state
of the corporation, including a
request for another bridge loan
to finance the organisation.
The Mortgage Corporation is
financed through the sale of
government guaranteed bonds,
which supplies funds for the
construction, purchase, enlarge-
ment and renovation of homes.
In 2005, Mr Russell said, gov-
ernment approved an addition-
SEE page 10


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Sheraton Cable Beach opens


SHERATON Cable Beach Resort, previously
know as Radisson, officially opened its doors
with a flag-raising ceremony yesterday.
Owned by Baha Mar Resorts and managed by
Starwood Hotels, this resort promises an


expansive set of guest offerings and amenities,
along with those of the neighboring Wyndham
Nassau Resort.
* SEE Business


M CHAIRMAN and CEO Baha Mar Sarkis Izmirlian, and Minister of Tourism and Aviation Neko
Grant looking at the food serving areas


* GENERAL manager Hans Altenhoff and Neko Grant examine the quality of furnishings in the
bedrooms


U~ FROM left to right, the
J. MC at the event Robert
Sands, Sheraton Cable
Beach Resort GM Hans
Altenhoff, chairman/CEO
Ub .,at J Baha Mar Sarkis Izmirlian,
&Don Robinson and Minister
EEof Tourism and Aviation
Neko Grant at the Sheraton
. W 449 flag-raising yesterday
(Photos: Tim Clarke/
Tribune staff)


family guardian managers
among the best of the best
at gama toronto conference
Family Guardian's Financial Services Division has been awarded the 2007
Gold Master Agency Award by the General Agents & Managers Association
International (GAMA). The award, presented at GAMA's Toronto conference,
recognizes insurance agencies or companies considered to be at the top of
their industry.
Agency Managers John Hepburn, Ann Marie Major and Ingrid Rose
were each awarded the Bronze International Management Award
for their individual agency's performance.


I,


4


GAMA promotes the professional development of managers
in the insurance and financial services industry through education, research,
and networking with professionals through its international membership.
For over 35 years GAMA has recognized nearly 36,000 sales leaders
in the industry worldwide through its management awards programme.


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Financial Services Marketing Consultant Leonard Henderson, and Agency Managers:
Vernelle Butler, Julie Adderley-Mclntosh, Ann Marie Major, Ingrid Rose,
Julie Smith, Deborah Delancy, Anna Wilson-Smith, and John Hepburn.


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SALES OFFICES: NASSAU, FREEPORT, ABACO & ELEUTHERA CORPORATE CENTRE: EAST BAY STREET, NASSAU P.O. BOX SS 6232


MAIN SECTION
Local News ...................P1,2,3,5,6,7,8,10,11
Editorial/Letters. ........................................P4
Advt ......................................................P9,12
BUSINESS SECTION
Business ............................P1,2,3,4,5,6,7,10
A dvt ..........................................................P8,9
ARTS SECTION
Arts ............................................... P1,2,3,6,8
Newsmakers/Cartoon..............................P4
Advt ........................................................ P5
W eather................................................... P7

CLASSIFIED SECTION 36 PAGES

MIAMI HERALD/SPORTS SECTION
Miami Herald MAIN.............................. P1-8
Miami Herald Sports....................... P9-13
Sports....................................,............P14-16


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T'HE TRIBUNE


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THE TIBUN WEDNSDAY JUNE13,C007,NAGES


0 In brief

Constable

airlifted

after traffic

accident

FREEPORT A police con-
stable was airlifted to a New
Providence hospital after being
seriously injured in a traffic acci-
dent on the Warren J Levarity
Highway on Monday.
Police reported that speed
was a factor in the accident that
occurred around 4.35pm when
the vehicle, driven by 26-year-
old Constable Elliot Melus of
Freeport, spun out of control
and overturned several times.
According to Chief Supt Basil
Rahming, Mr Melus was dri-
ving his black 1998 Lincoln Jeep
east on the highway, heading to
Freeport from West End.
Neva Elidore, 30, of Green-
way Drive, and Jqhnny
Franqois, 21,.of Pioneers Way,
were passengers in the vehicle.
While approaching the wind-
ing curve in the vicinity of Rock
Island Grille Restaurant and
Bar, Mr Melus attempted to
slow down.
The constable lost control of
the car and skidded along the
road before overturning several
times.
Mr Melus was ejected in the
process and sustained serious
injuries, including two broken
legs.
Ms Elidore and Mr Franqois
were treated for minor injuries
and discharged from hospital.
Mr Melus was flown to the
Princess Margaret Hospital in
New Providence.
Traffic police are investigat-
ing the accident.

Cuba's first
Episcopal
woman bishop
feels 'honoured'
E HAVANA'

NEW Episcopal Bishop Ner-
va Cot Aguilera, the church's
first female bishop in Cuba and
the developing world, said Mon-
day she welcomed the oppor-
tunity to show what women can
do if given the chance, accord-
ing to Associated Press.
"I feel very honoured by my
designation," Cot told Associ-
ated Press in a phone interview,
a day after being consecrated
at the Holy Trinity Episcopal
Cathedral in Havana. "It's a his-
toric act that demonstrates
women's possibilities."
Cot's designation as suffra-
gan bishop was first announced
in February.
"Her appointment is a won-
derful reminder that in some
nations, leadership is primarily
about gifts for service and not
about gender," US Presiding
Bishop Katharine Jefferts
Schori, who took office in
November as the first woman
to lead the church, said at the
time.
Also consecrated on Sunday
was Cuban's other new suffra-
gan bishop, Ulises Mario
Aguiera Prendes.
Cuba's Episcopal Church has
about 10,000 members in a
nation of more than 11 million.
A majority of Cubans are nom-
inally Roman Catholic, but
Protestant denominations and
the African-influenced faith
Santeria have gained in popu-
larity in recent years.
Cot was a secondary school
teacher before church reforms
permitted her ordination as one
of the first three Episcopal
women priests in Cuba in 1987.


Double murder charge prompts



call for examination of bail


* By ALISON LOWE
Tribune Staff Reporter
A MAN charged Monday in
a double murder was on bail
for another murder at the time
- prompting renewed calls for
action to be taken to avoid pos-
sible repetition in the future.
"Really what this has done
is put the justice system under
the spotlight yet again in a neg-
ative way," lawyer and human
rights activist Paul Moss said
yesterday.
The backlog of individuals
awaiting trial, the laws relating
to bail as well as the monitoring
of suspected criminals who are
released under those laws are
all serious factors that need to
be addressed if such repeat
offences are to be halted, com-
mentators say.
Hilfrant Franqois Joseph was
charged Monday with the mur-
der of Denise Clarke, 42, and
Livingston Johnson, also 42.
The constitution stipulates


that individuals cannot be
detained for more than a "rea-
sonable" period' of time with-
out coming to trial. This means
that after two years a person
has a right to petition for bail. It
is not known how long Joseph
was detained on the previous
charge before being granted
bail.
Yesterday, murder victims
advocacy group Families
Against Murder called for
a group to investigate and
make recommendations as to
what can be done to curtail the
"seemingly frequent granting
of bail to persons charged with
murder".
Mr Moss, and former assis-
tant commissioner in charge of
crime Reginald Ferguson claim
that such incidences weaken
public confidence in the justice
system.
"This is the system that real-
ly keeps the country afloat, if
people lose faith in our admin-
istration of justice system, if


* PAUL Moss


they lose faith in our court sys-
tem it means we are no differ-
ent from a failed society and
that means that nothing will'
happen, everything is broken,"


said Mr Moss.
Mr Ferguson suggested that
the Bahamas might need to
consider if "what is good for
other countries" such as the
UK or US is "good for us"
in terms of the constitutional
requirement on bail.
"We have to do what we
need to do to deal with our
own situations," he said.
Witnesses of crimes, and
friends and relatives of victims,
as well as senior police have
spoken out in the past about
the potential for bailed indi-
viduals to engage in intimida-
tion a factor that is exacer-
bated by the small size of this
country and its communities.
"We must have more courts,
more judges, more prosecutors
and more police officers in
order to have swift and timely
trials for those persons who are
accused," said Mr Moss.
In this way, difficult decisions
about how best to handle those
accused of serious crimes who


have spent enough time in
detention prior to being
assigned a trial date to warrant
bail would be a less common
occurrence.
This year's Speech from the
Throne indicated that a gov-
ernment priority is increasing
the swiftness with which justice
is administered.
Under secretary in the Min-
istry of National Security, Peter
Deveaux-Isaacs also affirmed
that it is a matter of priority
for the new government to find
a way to address the bail issue.
Electronic monitoring -
which would require bailed
individuals to wear an ankle
bracelet that could be tracked
- is one of the options "under
active consideration' by
National Security in conjunc
tion with other ministries to
allow authorities greater con-
trol over freed individuals, he
said. Although he added that
the process was only in the dis
cussion stage at present.


Mitchell condemns comment on US relations


THE assertion that relations
between the US and the
Bahamas have improved since
the victory of the FNM on May
2 is "inane, silly and childish",
Fox Hill MP and former For-
eign Affairs Minister, Fred
Mitchell, said yesterday.
Mr Mitchell said his succes-
sor, Deputy Prime Minister
and Minister of Foreign
Affairs, Brent Symonette,
should be "condemned" for a
comment he made last week
when he stated that relations
between the two countries had
improved, since the establish-
ment of the new government.


"What I take strong objec-
tion to, and what I find offen-
sive, is his assertion that since
he became foreign minister the
relationship between the Unit-
ed States and the Bahamas is
much better than it was under
the PLP," Mr Mitchell said.
"They have been in power
for just about five weeks and
there is nothing they have done
that demonstrates the logic of
what he says."
Mr Mitchell said that has
been no change in the rela-
tionship between the two coun-
tries since May 2.
He added that Mr Symon-


ette's claim that he is a friend
and neighbour to the US
Charge d'Affaires, Dr Brent
Hardt, has nothing to do
with the interests of two
countries.
"It was certainly improper
for Mr Symonette to bring the
US diplomat into a matter
which is purely domestic, mak-
ing him the subject of contro-
versy and compromising his
independence of action in the
Bahamas. Mr Symonette just
doesn't get it," the Fox Hill
MP said.
Referring to the deputy
prime minister's contribution


to the budget debate, Mr
Mitchell said the new govern-
ment has embraced all the for-
eign policies of the PLP.
Mr Mitchell also criticised Mr
Symonette for giving credit to
the ministry of foreign affairs
for accomplishing certain ini-
tiatives, rather than himself.
"It was interesting to see how
he wangled his way through his
presentation, giving credit to


the ministry but not to the min-
ister," Mr Mitchell added.
"It was not the ministry that
accomplished the signing of the
comprehensive maritime agree-
ment with the United States or
the ministry that accomplished
the mega-ports initiative. It wa.-
not the ministry that accom
polished the accord with India.
It was the minister, and that
minister was Fred Mitchell."


Super Summer


Savings

on selected items

Parliament Street Location ONLY


, N I EC OR


l P.'. I FRD DESIGN GRL TF


ZNS and Bahamasair, both
subsidized from the public trea-
sury, each owe the National
Insurance Board more than $2
million.
Housing and National Insur-
ance Minister Kenneth Russell
revealed this in the House dur-
ing his budget contribution,
saying that his ministry will try
to collect these funds in the


coming fiscal year.
"The success of the NIB and
its ability to sustain funding
social programmes depends on
its ability to not just collect
contributions from those
employers who voluntarily pay,
but to ensure compliance from
most of the persons who are
obliged to pay," Mr Russell
said.


"Contributions need to be
collected when they are due
or shortly thereafter. NIB
needs to implement aggres-
sive and creative collection
efforts and implement public
relations programmes to build
support for future increases
by explaining NIB's success
in this area," Mr Russell
added.


Thick fog is blamed for


serious traffic accident


* By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT Thick fog is
thought to have been a major
factor in a traffic accident that
resulted in one person being
airlifted to a Florida hospital
on Sunday, with another two
sustaining minor injuries.
American Scott Langen, 27,
of Delray Beach, Florida, and
his colleague Troy Forte, 25,
of Palm Beach, Florida, were
on Grand Bahama Highway
around 5.50 am, placing plastic
cones on the road as markers
for a triathlon event sched-


uled to start at 6am on Sun-
day.
Visibility was poor, as thick
ground fog conditions were
reported in the area at the
time, according to police
reports.
Chief Superintendent Basil
Rahming said a white Toyota
Corolla, license #SD786, was
travelling east of the water
tanks on Grand Bahama High-
way when the driver, 21-year-
old Shelton Roberts, of
McCleans Town, crashed into
a parked van with the licence
number SD#1398.
Both Langen and Forte, who


were in the road putting down
the plastic markers, were
struck.
Two ambulances were dis-
patched to the scene and trans-
ported all three persons to the
Rand Memorial Hospital.
Roberts and Forte were
treated for minor injuries and
discharged. However, Langen,
the event director for Exclu-
sive Sports Marketing, sus-
tained multiple broken ribs,
and was stabilised at the hos-
pital before being airlifted to
hospital in Florida.
Police investigations are con-
tinuing into the accident.


The
Way
4"Test
of things we
think, say or do
1. Is it the TRUTH?
2.Is it FAIR to all
concerned?
3. Will it build
GOODWILL and
BETTER
FRIENDSHIPS?
4. Will it be
BENEFICIAL to
all concerned?
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loR.s.IAn


NIB owed more than $4m


by ZNS and Bahamasair


Plese e aviLsedta EI

Conulant Lmitdillbemoingthi
administrative offic ~es o te flo i
location








Churh Steet laz


WEDNESDAY, JUNE 13, 2007, PAGE 3


THE TRIBUNE






THE TRIBUNE


PAGE 4, WEDNESDAY, JUNE 13, 2007


3 *h STITOR


ON FRIDAY a PLP MP suggested that the
House should consider taking punitive action
against a "biased" media by withholding gov-
ernment advertising.
We have heard these words before. The Tri-
bune has even experienced 25 years of such
an experiment under the former PLP regime, so
we are not surprised. The only feature about
this that does surprise even shock us is
that such unenlightened words should have
fallen from the lips of Philip "Brave" Davis,
PLP MP for Cat Island. Mr Davis is a man
who we have always considered head and
shoulders above his PLP colleagues when it
comes to sound commonsense.
Mr Davis did not define what he meant by
"biased", nor did he say who would decide
what was biased. Of course, if put to the test
one would discover that in PLP eyes anything
would be "biased" that was not in lock-step
with their thinking.
It was obvious that Mr Davis was deeply
offended by Tribune Managing Editor John
Marquis' Monday morning column, "Insight,"
which he termed a "media blitz" that went a
"long way in focusing public opinion and cre-
ating a sense of the negative with respect to the
Christie administration."
Mr Davis would term that column, which
encapsulated the views of a wide circle of
Bahamians, as biased. However, there was an
even larger section of the public that welcomed
the column. To them it was not only "bang
on", but it expressed their own views in a way
that they could not. Maybe if the PLP had paid
more attention to the content of those-articles,
they would have understood what was agitating
the Bahamian people. Instead of spending so
much energy vowing to "run John Marquis off
the island," they should have been trying to
salvage their sinking political boat. But, as usu-
al, their eyes were off the main target.
"Why should public funds be given to the
media that fails to provide balanced report-
ing?" Mr Davis asked. "If you are going to
spend public funds, there ought to be in place a
provision that that media outlet ought to at
least print the other side. Or at least let both
sides be printed."
This statement is as laughable as it is ill
informed. It would be interesting to have Mr
Davis tell us when The T-ibune has ever
refused to publish the other side.
As one of our Bahamian staff said on hear-
ing this comment: "The trouble with the PLP is
that they are the victims of their own para-
noia."
This young staff member has had much
experience with the PLP's paranoia. When a


Tribune reporter calls a PLP official to try to
get the party's side of a story, their attitude is
"here comes the lying Tribune," and up go
their defences. At one of their aUnual conven-
tions a Tribune team left our offices deter-
mined to give the PLP as good coverage as
they had just given the FNM. The PLP them-
selves thwarted their efforts. They were so hos-
tile and in some instances so rude that some of
the staff wanted to pull out and deny all cov-
erage.
However, they were convinced that that was
not in the true spirit of journalism. They stayed.
But the PLP made their own story. Instead of
writing about what was being said at the con-
vention, the story became a report on their
hostility.
As the young journalist said. "They really
make me tired. How can you write the other
side when they refuse to give it to you."
That is a question for Mr Davis to answer.
And if Mr Davis does not believe that The Tri-
bune goes out of its way to publish the other
side, he should refer to his colleague Fred
Mitchell.
Of course, today Mr Mitchell would proba-
bly bite his tongue, regretting he ever uttered
such words, but in October, 1998, Mr Mitchell,
in criticising the local media, removed The Tri-
bune from the rest. And this is what he had to
say: "Strange as it may seem, The Tribune has
the fairest policy with regard to coverage of
political news. They seem to understand that
the news is the news and not what your edito-
rial opinion is."
Ten years earlier, the same Mr Mitchell in a
talk to the Journalism Class of COB, told stu-
dents that the press "is the saviour of the poor
man who has no other avenue for his voice to
be heard."
Opposition politicians and critics like him-
self, he said, could not have survived as well
without The Tribune or the Guardian.
"These newspapers," he said, "serve a vital
function for our democracy, and we ought to do
everything we can to protect their freedom to
publish and be damned."
We would like to remind Mr Davis that in
2002 Prime Minister Hubert Ingraham, in one,
of his last acts before being defeated at the
polls that year, signed on behalf of the Bahamas
the Declaration of Chapultepec. This declara-
tion, sponsored by the Inter American Press
Association, protects the press and its journal-
ists from such threats as proposed by Mr Davis.
"No news medium nor journalist may be
punished for publishing the truth or criticising
or denouncing the government," says article
10 of that Declaration.


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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

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

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


Press freedom under attack again


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


GYM EQUIPMENT FOR SALE


i -






S

4 .

Caribbean Health & Fitness Limited will hold
a sale of gym equipment at the old Gold's
Gym location on the second floor of the
Bridge Commons Plaza, East Bay & Mackey
Streets, on the following days:-


Monday to Friday June 11 to 15 12noon to 8p.m.


failed to outline is the fact that
the $2.8 million that was allo-
cated for the Primary school
was a multipurpose facility.
entailing a community centre,
school, auditorium, a 440M
Track, and a hurricane shel-
ter.
Acklins is one of those
remote southern islands I am
told that it would take as
many as two days to reach by
mailboat; so to invest $2.8 Mil-
lion in a school/community
centre able to withstand hur-
ricane force winds is not an
unreasonable figure.
Listening to the Senator's
view it became clear that he
could not identify with the cat-
astrophic experiences that
Grand Bahamians realized
during hurricanes Frances,
Jean and Wilma and a sug-
gestion of any type of wooden
structure is a non-starter,
therefore, as a leader he
should not be around any
table making public policy


decisions that would affect the
lives of ordinary Bahamians
in a modern Bahamas.
The following day Prime
Minister Ingraham presented
his Budget communication, it
was interesting to note that
high on the agenda of the new
government was a one million
dollar per annum grant to the
Bahamas National Trust for
all the wonderful work they
do in conservation and preser-
vation of the environment yet
$2.8 million is too much to
invest in a school/hurricane
shelter for the people of Ack-
lins.
Aswe chart a new course, it
would be a grave mistake for
the Government to allocate
less than one million dollar
grant per annum to the vari-
ous children's homes, homes
for the aged and the disabled.
Finally, I trust that we are
not following other nations
that put animals and nature
over people, to do so would
be heresy.
BRIAN N SEYMOUR
Freeport,
Grand Bahama,
June 4,2007.


EDITOR, The Tribune.
THREE storms in two
years, and we have not learnt
anything from our experi-
ences. I speak of Senator
Johnley Ferguson, vice chair-
man of the FNM's appearance
on Jeff Lloyd's Radio Talk
show, "Real Talk Live" where
he sought to make a case that
the Progressive Liberal Party
government was being waste-
ful by allocating $3 million for
a Primary School in Acklins.
What Senator Ferguson


We should be

more balanced

with criticism

and praise

EDITOR, The Tribune.
MANY of us find it very
easy to criticise what we
perceive to be wrong, but
are seldom interested in or
find the time to comment
on anything that goes well.
I believe that we should be
more balanced in this
regard. Some weeks ago I
offered some comments on
your feature 'In days gone
by'; they were intended to
be constructive, and I see
that you accepted them Ps
such, and actually pub-
lished my letter. I thank
you for doing so.
J ipad your article on the
YOr4nouth Castle fire
mki&h occurred in 1965,
when I was a 12-year-old
GHS student. We had no
television then, but the
news as conveyed through
the print media, and excel-
lent radio reporting by the
likes of Don Pritchard of
ZNS, provided images that
were comparable to a pre-
sent day CNN report.
Your feature provided
excellent recall of the
events the frenzy, the
heroism, and the cowardice
surrounding the event.
Thank you for that very
vivid piece of history.
SAXON 2
Nassau,
May 20, 2007.


$2.8m for




school was




not wasteful


Why must much



needed funds



be withheld?

EDITOR, The Tribune.
THE home of one of my relatives is being foreclosed by a local
bank. This man, who is now 63, had to retire eight years ago
because of medical problems.
He paid most of the gratuity that he received from his employ-
er on the mortgage at that time, but has struggled to make the
payments since then.
Three years ago, he assigned his invalidity benefits from NIB
to the bank in order to keep the roof over his head and his son
has tried to help him with the payments as best he could; how-
ever, they were unable to keep the mortgage current.
While my relative accepts that he is losing his house, he can-
not understand why the bank has told him that they will keep his
invalidity benefits until the house is sold, as we all know that this
can take years sometimes.
My relative has told the bank that those funds are all that he
will have to take care of himself, buy his medication, etc., but
they have rudely informed him that all they care about is getting
their money back and he has to look after his own welfare.
Since the bank is repossessing the property, I too cannot
understand why they have to withhold these much-needed
funds, leaving my relative both homeless and penniless.
Perhaps Prime Minister Ingraham will considerlegislation to
assist people who find themselves in a similarly difficult position,
so that they will at least be left with some funds to take care of
their basic needs and a modicum of dignity.

S Y BAIN
Nassau,
June 7, 2007.


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THE TDU0


* In brief

Fourth man
charged with
attempted
murders
A FOURTH man has been
charged and arraigned in court
in connection with the attempt-
ed murders of three people.
Marvin Lewis, 27, of Prince
Charles Drive was arraigned
before Magistrate Susan
Sylvester at Court 11, Nassau
Street, yesterday morning and
charged with three counts of
attempted murder.
It is alleged that Lewis on
April 8, 2007 while being con-
cerned with others attempted
to cause the deaths of Rosten
Moxey, Jamal Rolle and Dew-
ery Ryan Bonaby.
John Tellus, 27, of Minnie
Street; Edroy Burrows, 30, of
Podoleo Street, and Romeo
Lynes, 26, of Ethel Street, have
already been arraigned on the
same charges.
Lewis was not required to
plead to the attempted murder
charges and was granted bail in
the sum of $45,000 with one
surety. The case was adjourned
to September 28.

19-year-old
denies charge
of armed
robbery
A 19-year-old man was
arraigned in Magistrate's court
on Monday charged with rob-
bery.
It is alleged that Shakator
Thompson on April 6, 2007,
while at the Sports Centre,
robbed Martin Bonneau of
$415.
Thompson, who was
arraigned before Magistrate
Guillimena Archer at Court 10,
Nassau Street, pleaded not
guilty to the charge and was
granted bail in the sum of
$3,000. The matter was
adjourned to October 16.

Woman faces
charge of .
stealing fdom
employer
A WOMAN, 21, of Claridge
Road, was charged with stealing
by reason of employment dur-
ing an arraignment in the Mag-
istrate's.Court yesterday.
It is alleged that Shameka
Ramsey, during the month of
May, stole $805 from Solomon's
Super Centre on Old Trail
Road.
Ramsey, who appeared
before Magistrate Guillimena
Archer at Court 10, Nassau
Street, pleaded not guilty to the
charges and was granted bail in
the sum of $3,000. The matter
was adjourned to October 15.

Actress flies
to Puerto
Rico for
wedding
PUERTO RICO
San Juan
ANA Ortiz, who plays the
older sister of the title character
in the television series "Ugly
Betty," married musician Noah
Lebenzon in a weekend cere-
mony in Puerto Rico, accord-
ing to Associated Press.
Ortiz, 36, wore a white lace
gown at the wedding Saturday
afternoon in an oceanview din-
ing room of the Horned Dorset
Primavera Hotel in Rincon, on
the Caribbean island's west
coast, manager Wilhelm Sack
said Monday.
Among the 80 guests were
Ortiz's cast members from
"Ugly Betty," including Amer-
ica Ferrera, the star of the hit
series.
"I would call it a mixture
between Hollywood and Puerto
Rico," Sack said. "It was very
glamorous."
Ortiz, a New York City
native, was honored for her role


in the series with the best sup-
porting actress award at the
2007 ALMA Awards, dedicated
to achievements by Hispanic
artists.
Lebenzon, 37, is a guitarist
for-the rock group Everything is
Energy.


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By ASHLEY THOMPSON
BDM member Omar Archer
has blasted supermarkets for
the gainful employment of
young children.
For the past two weeks, Mr
Archer has had four City Mar-
ket locations South Beach,
Rosetta Street, Independence
Drive and Sea Grapes under
close watch.
The observations, he said,
have shown children as young
as 10 packing groceries and
shelves, and once the store clos-
es mopping floors until 10
o'clock at night.
He said he noticed that a
group of young boys did not
leave the South Beach location
until 10.45 one evening.
These children were leaving
without adult supervision and,
when approached by a car, ran


Russell cl

By BRENT DEAN
Tribune Staff Reporter
HOUSING and National
Insurance Minister Kenneth
Russell has vowed to change
the inspection process in his
ministry, alleging that the PLP
government employed
"unqualified" contractual
inspectors, some of whom he
has been forced to let go since
coming to office.
Though not providing spe-
cific numbers, Mr Russell told
the House during his budget
communication that many of
these inspectors also had
expired contracts, yet they
remained on the payroll of the
ministry.
"I have no choice but to let
these people go and to wish
them well in any future endeav-
our as long as it is not one
involved with the inspection of
homes," he said.
An investigation was


TOugher

By ASHLEY THOMPSON
THE Sexual Offences and
Domestic Violence Act is being
described as inadequate after
the case of a six-year-old girl
being raped.
Fathers' rights campaigner
Clever Duncombe and pastor
Ethelbert Diamond Harrison
are calling for amendments to
be made to both that act and
the Child Protection Act.
Currently, the maximum
penalties for sexual offences
are seven years, fourteen years,
and life, for first, second, and
third offences respectively.
Mr Duncombe, president of
Bahamian Fathers for Children
Everywhere, says this is unac-
ceptable as scientific research
indicates it is highly unlikely
sexual offenders will ever be
cured of their habits. He
believes that if studies are true,
these predators should not be
given a second chance.
Mr Duncombe claims that


*market chain under fire



nploying young children


off, obviously aware of the safe-
ty issues presented by leaving
so late.
"The government is turning a
blind eye to this issue," Mr
Archer claimed. Once a former
assistant manager at City Mar-
ket in Rosetta Street, he claims
he has seen first-hand the
exploitation of these children.
On average children work
five days a week from 4pm until
10pm, and 10 hours on Satur-
days. He said that a 40-hour
work week is in direct violation
of the Employment Act, 2001.
Article 51 of this Act per-
tains to children and young per-
sons and prohibits children
being employed during school
hours, at times that will jeopar-
dise their attendance, or times
that will affect their ability to
"obtain the full benefit of the
education provided" for them.


* OMAR Archer


Mr Archer sees this employ-
ment as an infraction of the
Act, stating: "These children
have no time for homework
and cannot prepare for school


the next day. Therefore, they
are unfit to obtain the full ben-
efit of the education provided
to them."
Under the Employment Act,
employers who violate the Act
are fined $1,000.
Mr Archer wants the fine to
be raised to $10,000 and for
parents to pay a fine also, as
they should also be held
responsible for allowing their
children to work these hours.
Other suggestions made by
Mr Archer were to stop chil-
dren under 17 years six months
from being gainfully employed,
where the only pay they receive
is in the form of tips. This is
considered "degrading" to
Bahamians.
He also believes that students
should only be allowed to work
during the summer months and
not throughout the school year.


Mr Archer, BDM candidate
for the Kennedy constituency
in the 2007 general election,
has been trying to raise aware-
ness of the need for stronger
child labour laws in the country.
He is dissatisfied with the
poor child labour laws current-
ly in existence. The children are
the country's "most valuable
untapped resource", Mr Archer
said, while also urging the need
to "save them" from the injus-
tice they are suffering.
He demanded that other
supermarkets, including Cost
Right and Solomon's Super-
centre, also be held account-
able.
City Markets did not com-
ment on the allegations as
repeated calls to Peter Gaudy,
Human Resources Manager for
Bahamas Food Services, were
not returned.


aims PLP hired 'unqualified' inspectors


launched into the practices at
the Ministry of Housing fol-
lowing a series of Tribune
investigations. The stories
reported allegations of bribery
and favoritism in the ministry
surrounding the awarding of
contracts, along with question-
ing the integrity of the entire
inspection system. As a result
the Ministry ordered a police
investigation.
Along with providing photos
of some of the sub-standard
work, Mr Russell used the
example of a male resident of
Emerald Gardens, New Provi-
dence, who has been seeking
redress for his home with the
Ministry of Housing since 2003.
An assessment of the home,
which has significant cracks, the
minister said, reveals that
$55,000 to $60,000 is needed to
repair a home, which initially
cost $61,847 to construct.
The 600 homes with which
government plans to assist in


the coming fiscal year, as
revealed in the Throne Speech,
are a part of a mixed model
programme that Prime Minister
Ingraham announced on the
campaign trail in San Salvador.
The plan seeks to facilitate
the construction of 3000 homes
over five years through the sell-
ing of lots at nominal fees, pro-
viding individuals the opportu-
nity to construct their own
homes with the contractor of
their choice; or, if needed, the
government could also assist in
the erection of the home.
Reflecting the policy of the
prime minister, Mr Russell said
that "it was and is intended for
government to identify and
assist individuals to acquire
land," rather than the "grand
affair" of state involvement that
has evolved.
Despite the challenge of
widespread repairs to govern-
ment homes throughout New
Providence, Mr Russell told the


* KENNETH Russell


House that his ministry will suc-
ceed as his government will
implement a "well designed
transparent process that is fair


and that will serve all categories
of Bahamians irrespective of
race, creed or political ideolo-
gy."


,sentences sought forchild abuse


when she spoke to the mother
of a recent sexual assault vic-
tim, she indicated the charges
against the attacker were
inconsistent with what hap-
pened to her daughter.
Although the child was kid-
napped, raped, sodomised, and
badly beaten, the man was only
charged with rape.
Mr Duncombe said: "If this is
the case, the prosecutor's office
did a sloppy and lousy job." He
also indicated that if the prose-
cutors had done their job prop-
erly there would be no need for
an appeal with this case.
He is also supporting Mr
Harrison's efforts to amend the
Family and Child Protection
Act, which was passed in
November of last year without
stating anything about the pro-
tection of a foetus.
The law already states that
the destruction of a live fetus
constitutes a crime, but Mr
Harrison does not believe
enough attention is being paid


to this law.
The Family and Child Pro-
tection Act safeguards children
up until the age of eighteen,
but these men are asking for a
decision as to when during a
woman's pregnancy does the
law recognize the fetus as a
human being and start pro-
tecting its life.
They are also urging that stiff
penalties be incorporated into
the Act to protect foetuses
from being disposed of for con-
venience.
The pair would like a change
to section 14(2) of the Act,
which requires a father of a
child born in wedlock to make
court-ordered payments to the
maintenance of the child. If a
father cannot afford to make
these payments, they lose their
parental rights a move Har-
rison states is unjust.
The last thing the two men
want is a national parenting
programme.
This programme would be a


class, designed to teach parents
how to parent their children.
The government has tried to
implement seminars before, but
according to Mr. Duncombe
they failed. These new classes


would be designed for anyone
who chooses to attend, and pos-
sibly be a requirement for par-
ents brought before the courts
due to neglect or abuse of their
child.


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WEDNESDAY, JUNE 13, 2007, PAGE 5


ApoJ


.A----


THE TRIBUNE


t lal






THE TRIBUNE


PAGE 6. WEDNESDAY, JUNE 13, 2007


Tourism minister stresses need



for increased airlift facilities


WITH $26.6 million being
spent on marketing and pro-
motions, and a further estimat-
ed $4.1 million on airlift devel-
opment, the new Minister of
Tourism and Aviation Neko
Grant emphasised that the
Bahamas now needs to secure
more airlift capacity.
Addressing the House of
Assembly during the budget
debate this week, Mr Grant
said that to date, the level of
air seat capacity does not meet
the threshold needed to fill
every hotel room in the
Bahamas.
However, he said that his
ministry has an "aggressive"
programme for tourism devel-
opment and that this year's
budget reflects planned efforts
to sustain and grow airlift qual-
ity and capacity as required.
"As we move forward with
an aggressive programme for
tourism and economic expan-
sion in the islands of the
Bahamas, including new invest-
ments over the next several
years, the industry will require
a matching increase in the qual-
ity and capacity of our sched-


uled airlift in New Providence
and Paradise Island, Grand
Bahama and the Family
Islands.
"Our strategies then will be
focused on ensuring that airlift
capacity keeps pace with our
growing resort inventory," he
said.
Mr Grant said the ministry
will seek to rise to the chal-
lenge of continuing to secure
incremental capacity at com-
petitive fare offerings, against
the increased challenge of des-
tinations like Turks and Caicos
Islands, Bermuda, and Cayman
Islands.
These countries, he said,
have been able to offer lower
turn around costs and attrac-
tive customer friendly facilities
which supplement the resort
brands of those islands.,
The minister said that efforts
to grow airlift quality and
capacity will be underpinned
by initiatives including Jet
Blue's northeast corridor to
Nassau; Gulfstream's Conti-
nental Connection services
expansion to the Family
Islands; Air Tran's daily


* NEKO Grant


Atlanta hub to Grand Bahama,
and US Airways' Charlotte hub
and Saturday services to
LaGuardia and Philadelphia.
"I take this opportunity to
note Delta Airline's June 16,
2007 inaugural flights of non-
stop regional jet service from
Atlanta to George Town, Exu-
ma and non-stop regional jet


service from Atlanta to North
Eleuthera," he said.
The minister added that
negotiations which are cur-
rently taking place with other
airlines also carry great poten-
tial for the Bahamas' tourism
industry.
"With the help or our indus-
try partners, we have secured,
in principle, agreements from
key airlines which will position
us to meet the increased air
seat capacity needed to fill the
new rooms which will come on-
line throughout the Bahamas
in the coming years," he said.
The minister noted that in
the upcoming fiscal year his
ministry will welcome new non-
stop services, while also open-
ing up one-stop, same-day con-
nections from numerous inter-
national cities.
"These initiatives are being
accomplished while we contin-
ue to maintain a healthy bal-
ance between in-bound air seat
capacity and existing hotel
room capacity. Marketing and
promotion as I mentioned
remain a core function of our
business," he said.


With regards to marketing
and promotions in the US,
Minister Grant emphasised
that there will be three primary
objectives, namely: "To reverse
the softness in the marketplace,
to mitigate anticipated poten-
tial losses of family business
this summer due to the West-
ern Hemisphere Travel Initia-
tive, to implement a strong pro-
motional campaign for the
coming fall season."
The minister said that the
competitive environment is
unprecedented and that the
Bahamas "will never be able
to outspend the competition."
"To meet these principal
objectives, our spending then
must reflect unprecedented lev-
els of innovation and creativity
and must be strategically
placed across all media.
"It is important to note that
now more than ever, the inter-
net, with its pervasive usage by
our intended target audiences,
requires exciting, breakthrough
advertising banners on the pop-
ular sites trafficked by our tar-
get customers, in order to push
them to our," he said.


Scotiabank pays


visit to the PM


SCOTIABANK executives
recently paid a courtesy call
on the Prime Minister Hubert
Ingraham.
Pat Krajewski, senior vice
president of international
. human resources: Rob Pitfield,
executive vice president and
head of Scotiabank's Interna-
tional Banking; Anthony
Allen, Scotiabank Bahamas'

* PICTURED from left are
Mr Allen, Ms Israel,
Mr Ingraham, Ms Krajewski
and Mr Pitfield
(Photo: BIS/Patrick Hanna)


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chairman, and Minna Israel,
Scotiabank Bahamas' Manag-
ing Director visited with the
prime minister for a brief meet
and greet session.
This is the group's first offi-
cial meeting with the newly
elected prime minister.
Scotiabank is one of North
Americas' premier financial
institutions and Canada's most
international bank.
With over 57,000 employ-
ees, Scotiabank Group and its
affiliates serve approximate-
ly 12 million customers in
some 50 countries around the
world.


Our Lucaya employees

recognized for service


* By DENISE MAYCOCK
Tribune Freeport Reporter
FREEPORT The Our
Lucaya Resort has recognized
several employees for provid-
ing outstanding service at the
Westin and Sheraton Grand
Bahama during the 2007 first
quarter.
Earnestine Moxyz, the
resort's public relations direc-
tor, said hundreds of employ-
ees were nominated for the
associates and supervisor of
the month awards, arid man-
ager of the quarter, for the
period February-April 2007.
During February, Shenique
Hopkins, front of the house,
and Dwayne Jones, heart of
the house, were recognized as
the associates of the month.
Dawndenezza Sands was
awarded supervisor of the
month.
For March, the award winners
were Azure Major, front of the
house associate of the month;
Keva McIntosh, heart of the
house, associate of the month;
Darren King, supervisor of the
month; and Allison Tucker,
manager of the quarter.


For the month of April:
Lacarra Bethel-Missick, front
of the house associate of the
month: Kirkland Wildgoose,
heart of the house associate
of the month: and Robert
McPhee, supervisor of the
month.
Mrs Moxyz said nomina-
tions for the resort's employee
recognition programme were
based on a strict criteria, as all
persons would need to receive
commendation from the
resort's guests, (internal and
external), demonstrate excel-
lence in a specific area during
the month in question, and be
a full-time employee with no
active reprimands.
She said winners received
cash prizes, dinner for two gift
certificates, fruit baskets and
plaques.
The winners are also eligible
to win the year-end awards,
including cash prizes ranging
from $500 to $1500, dinners
for four, and five-day all
expenses paid vacations, inclu-
sive of air and hotel accom-
modations for two, to New
York, Florida, California,
Aruba or Atlanta, Georgia.


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PICE 13. 'I.


EWEN OLN


0 In brief

Bahamians

graduate in
medicine

from UWI

TWO Grand Bahamians
were among this year's fifteen
graduates of the School of Vet-
erinary Medicine of the Faculty
of Medical Science, at the Uni-
versity of the West Indies.
The graduates, Dr Winston
Pedro Davis and Dr Kwesi
Balewa Smith, both took their
Oath as doctors of veterinary
medicine last week.
Born in Freeport to Barbara
Davis and Yeoman Wood, Dr
Davis attended Bishop Michael
Eldon High School and the Col-
lege of the Bahamas.
He graduated from the Flori-
da International University with
a BSc degree in biology and
chemistry prior to his enrolling
at the University of the West
Indies
Dr Davis was awarded both
the Helen Taylor award for the
best student in surgery and the
best student in swine medicine.
Dr Smith, son of Lenworth
and Juliet Smith, was born in
West End.
He Smith attended West End
School, St John's College, and
the College Of The Bahamas.
He also attended the
Tuskegee University were he
graduated with a degree in ani-
mal and poultry science and
pursued graduate studies at that
university prior to enrolling at
the University of the West
Indies.

Player for
White Sox
settles
shooting case
* DOMINICAN REPUBLIC
Santo Domingo
A FARMER who accused
Chicago White Sox shortstop
Juan Uribe of shooting him dur-
ing an altercation last year
received a payment from the
major leaguer as part of a set-
tlement, a lawyer for Uribe said
Monday, according to Associ-
ated Press.
"The complainant dropped
the charges and recognized that
Juan was not involved in the
incident," attorney Maria Luisa
Guzman told Associated Press.
She said she could not reveal
the amount of the payment.
Another person involved in
the case said that Uribe paid
the farmer US$25,500. That
person, an associate of the vic-
tim, did not have authorization
to discuss any details and spoke
on condition of anonymity.
District Attorney Robert
Lugo said the settlement ended
an attempted murder investiga-
tion as well as a related civil
lawsuit.
The farmer, Antonio Gonza-
lez Perez, claimed that Uribe
shot him and an Italian man on
Oct. 13 when the pair walked
too close to Uribe's jeep after
an argument in the coastal city
of Juan Baron.
Uribe, 28, has maintained his
innocence, suggesting he was
falsely accused because he is
well known in his native
Dominican Republic. He said
messengers were once sent to
his house demanding more than
US$900,000 from him.

Reggaeton
star released
after viral
infection
MIAMI
REGGAETON star Daddy
Yankee was released from a
hospital Monday after suffer-
ing from a viral infection and
dehydration, according to Asso-
ciated Press.
The performer was ordered
by his doctor at Baptist Hospital
to rest for at least a week to


help his recovery, a news
release from his publicist said.
He had been hospitalized since
Friday, a spokeswoman said.
The illness forced Daddy
Yankee to temporarily set aside
a promotional tour for his
newest album "El Cartel: The
Big Boss."
"Now I'm going home to rest
a while," Daddy Yankee said
after he was released.
Daddy Yankee, of Puerto
Rico, is a major player in the
reggaeton genre, a mix of reg-
gae, rap and Latin music styles.


I


^^^^jjU-|^1-^^^--|^H^^^1^^^ LOCAL NEWS^^H^^^^^^^^^^^^B^^UH


~~~sg


DAIHATSU


q









THETRIBUNEWEDNESDAYJUNE13,2007,PAGELOCALNEW7


Minister urges farmers to be more




competitive in globalised economy


HUGO CHAVEZ
(AP Photo)

Venezuela's Hugo

Chavez arrives

in Cuba to visit

Fidel Castro

* HAVANA
VENEZUELAN Pres-
ident Hugo Chavez made
a surprise visit to Cuba
Tuesday at the invitation
of his convalescing friend
and ally Fidel Castro,
state television reported,
according to Associated
Press.
State television
showed Chavez being
greeted at the airport by
Cuban Vice President
Carlos Lage and Foreign
Minister Felipe Perez
Roque.
The announcer on
Cuba's midday news said
Chavez was scheduled to
meet with the 80-year-
old Castro as well as
Raul Castro, who has
been acting president
since his older brother
temporarily stepped
aside in late July follow-
ing emergency intestinal
surgery.
"Long live Cuba! Long
live Fidel!" Chavez
shouted to official media
at the airport before he
was whisked away in a
black sedan.
No other details of the
visit were immediately
available.
Chavez's visit came
just five days after Boli-
vian President Evo
Morales made a daylong
trip to Havana and spent
three hours with Castro,
later saying the Cuban
leader looked "very
recovered."
Afterward, Morales
predicted he would be
seeing more of Castro,
saying he had been invit-
ed to come back and
chat whenever he liked.
Although Castro has
not appeared in public in
the 10 months since
announcing his illness,
he has become more
active recently, writing
more than a dozen essays
on international affairs.
He has been seen only
in still photographs and
videotapes released by
the government, includ-
ing a 50-minute taped
interview that appeared
on state TV last week.
No images of his visit
with Morales or Chavez
were immediately
released.
Senior officials have
repeatedly said Castro is
on the mend, although
the bearded revolution-
ary recently acknowl-
edged in one of his
essays that his recovery
has been delayed
because one of his first
operations did not go
well.


your

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


MINISTER of Agriculture and
Marine Resources Larry Cartwright is
urging Bahamian farmers to become
more competitive in a globalised world
economy.
Mr Cartwright, in his contribution
to the budget debate, told the House of
Assembly that the globalisation of the
world's economies and the liberalisa-
tion of agricultural trade "necessitates
that our farmers become more com-
petitive in the production and mar-
keting of agricultural goods if they are
to survive and realise increased earn-
ings."
He maintained that it is "critical"
that the basic economic elements nec-
essary to support competitive, market-
driven agricultural activities be intro-
duced in the Bahamas for the produc-
tion of food.
These activities include the intro-
duction of modern methods of farming
as well as adequate land clearing and
preparation of farm roads in areas
where farmland is not easily accessible,
he said.
Minister Cartwright told parliament
that his ministry will also seek to
encourage the expansion of the range
of crops produced in the 'Bahamas


MINISTER of Agriculture and
Marine Resources Larry Cartwright
through the introduction and expan-
sion of modern, non-traditional farm-
ing methods.
"One such method is the use of
green houses for the production of
selected herbs, fruits and vegetables.


The Department of Agriculture will
import and offer for sale small (15 feet
by 48 feet) tunnel style green houses to
small farmers," he said.
The minister added that these units
will be used for seedling production
as well as ornamentals and vegetable
production.
"During this fiscal period it is antic-
ipated that 40 Green Houses will be
imported to facilitate the production of
salad greens and tomatoes for use in
the eco-tourism ventures," he said.
Minister Cartwright said the consid-
erable variation in rainfall, ground
water and soil depth in the different
Family Islands suggests that not all
islands are able to produce the same
crops.
Therefore, he assured farmers, his
ministry will promote an island spe-
cific crop programme "that will seek to
have our farmers in the islands grow
crops that are best suited for their nat-
ural environmental advantages and
their level of infrastructure develop-
ment."
To further assist farmers, Mr
Cartwright said, his ministry will help
them in the grading, packaging and
marketing of their produce.


During this fiscal period, he said,
major upgrades and refurbishment of
the units at North Andros, North and
Central Eleuthera will be conducted at
an estimated cost of $350,000.
He added that the Produce
Exchange at Potters Cay is also under
renovation at the cost of $1.5 million.
The minister also told parliament
that efforts will be made through arti-
ficial insemination strategies, to
improve and increase the yield of small
ruminants (sheep and goats) so that
farmers in this sector may be better
served.
"The introduction of artificial insem-
ination will reduce the cost of securing
improved animal genetics. The cur-
rent cost to purchase registered indi-
viduals of improved breeds varies from
$2,500 to $7,500 for small ruminants.
"By contrast, the current estimate
to produce improved stock by buying
semen and frozen embryos using arti-
ficial insemination and embryo
implants are estimated at $300 to
$1,000 each," he said.
Mr Cartwright said that this strategy
will have the additional benefit of
reducing the risk of accidental impor-
tation of animal diseases.


1FF ig.d i Wahamia Trad ne Shw and Exp so presnt[ed by h uC

M BTC presi-
dent and CEO
Leon Williams
(left) along
with BTC
. "North
Bahamas vice
president
Henry Romer
(right) pre-
sents a gift at
the expo.


A MODEL displays a jacket that acts as a cellular phone
and I-pod.


THE grand ballroom of the
Westin Our Lucaya was trans-
formed into a futuristic fair
when over 3,000 guests, locals
and international delegates
joined the Bahamas Telecom-
munications Company (BTC)
last week to participate in the
Grand Bahama 'Trade Show
and Expo. Under the theme
"Technology and You: Con-
necting You With Tomorrow's
Technology Today", BTC pre-
sented the event in conjunc-
tion with the Ministry of
Tourism and the Bahamas
Chamber of Commerce.
Visitors to the trade show
had the opportunity to try out
talking vehicles, which display
text messages on dashboards
thanks to Blue Tooth technol-
ogy, and jackets that acted as
cellular phones and i-Pods.
Grand Bahamians also got
to cast text votes in real time
for their favorite seminar
speaker and exhibition booth.


BTC president and CEO
Leon Williams led his team of
executives in welcoming the
steady flow of crowds to vari-
ous exhibitions while giving
away prizes every few minutes.
Performers like Simeon
Outten, Avvy and Elon Moxey
also entertained the trade
show's visitors.
"The event was an over-
whelming success." said BTC'
President and CEO Leon
Williams.
"We've featured products
and services sure to keep the
Bahamas at the forefront of
communications technology
for 2007 and beyond," he
said.
Mr Williams said he was
thrilled that the event attract-
ed so many people from a
wide demographic, ranging
from teens to seniors, who
wanted to educate themselves
in the ever-changing trends ol
the industry.


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Bank of The Bahamas
I I M I 1T E D

NOTICE

Notice is hereby given in accordance with Section
64 of the Securities Industry Act, 1999 that Mr.
Alfred Jarrett is no longer a Director or Chairman
with Bank of The Bahamas Limited effective June
8, 2007.

We further advise that Mr. Maitland Cates has been
appointed Chairman of the Board of Banl, of The
Bahamas Limited.



Laura A. Williams
Secretary


-~B~P51~C-- I I


WEDNESDAY, JUNE 13, 2007, PAGE 7


i?:


THE TRIBUNE






THE TRIBUNE


I /AL-IL. U, VVL.UI'vCJOULT, JUIv 1 I5, LUU/


The benefits of having an




OTEC plant in the Bahamas


W ELL-KNOWN
shipping expert
Bill Bardelmeier spoke to a
group of Rotarians last week
about getting power from the
sea. It's something he's been
touting since the 1960s.
A retired marine consul-
tant, Bardelmeier has lived
here for half-a-century and
was a director of the
Bahamas Maritime Authori-
ty for over a decade. One of
his pet interests is something
called ocean thermal energy
conversion, and, curiously,
there's a lot of local lore
behind it.
OTEC is a 19th century
idea that uses the sea as a
gigantic solar collector, but
it has proved difficult to
implement for both tech-
nical and economic reasons.
Some experts are now saying
that its time may have come.
They argue that technical
advances and economic
changes have made OTEC a
cost-effective alternative to
fossil fuels for many tropical
island communities. And in
addition to electricity, these
systems offer the bonus of
producing fresh water and
hydrogen, as well as nutri-
ents for mariculture and agri-


STOUEHGHCALL
Am -


culture.
"It has long been known
that some of the sun's energy
can be re-captured at sites
where there is a substantial
difference in sea water tem-
perature (say about 40
degrees Fahrenheit),"
Bardelmeier told Rotarians.
"This re-captured heat ener-
gy can be used to generate
electricity."
Essentially, an OTEC
plant pumps warm surface
sea water into a tank. The air
in the tank is pumped out to
create a vacuum, which
vapourises the water. The
steam spins a turbine to gen-
erate electricity, and then
passes through a heat
exchanger where it is con-
densed by cold water
pumped up from the ocean -
into fresh water.
And from the sound of
things, the Bahamas is just
about the best place on Earth
to locate such a facility. As


Bardelmeier pointed out, the
ideal OTEC site must be
within the tropics, have a
steep drop-off where the
water plunges to over 3,000
feet, and be close to a power
grid.
"In essence this describes
the southwest corner of New
Providence," Bardelmeier
said. And in fact, that's where
E. P. Taylor's New Provi-
dence Development Compa-
ny planned to build an
OTEC plant about 40 years
ago.
Taylor was the Canadian
investor who developed
Lyford Cay. And in 1966 his
NPDC was run by an engi-
neer named John Bainton -
a long-time friend of
Bardelmeier, who shared his
interest in ocean thermal
energy conversion. Bainton
died in 1989 at the age of 63,
but his widow, Aileen, still
lives at Lyford Cay.
In fact, Bainton went so


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I ~~i~a~p~13BP38~-~~:1.~~ -- -- -- -


Share

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


I


far as to charter a Deepstar
research submersible to dive
to the bottom of the Tongue
of the Ocean. And in 1967
he commissioned one of
Canada's top engineering
firms to study the feasibility
of an OTEC facility at
Clifton just west of the
BEC power plant.
The idea was to develop a
10,000 kilowatt sea thermal
power plant that would also
produce 6 million gallons a
day of fresh water. Back
then, the construction cost
was estimated at about $19
million (assuming duty-free
imports).
"Jack gave a talk about it
to one of the service clubs,"
Bardelmeier told Tough Call.
"But no-one got very excit-
ed. They spent a lot of mon-
ey, and had some innovative
design ideas, but it never lit
off. Jack was ahead of his
time."
One of the stated reasons
for Bainton's interest was the
possibility that NPDC might
get into the aragonite mining
business, which needed a
supply of low-cost power.
Aragonite is a sand produced
from mollusk shells over mil-
lions of years. Mining of this
resource was introduced near
Bimini in 1969.

Leremer Marine Labs of
Bimini had the initial
concession but turned it over
to Union Carbide, which sold
it to the Dillingham Corpo-
ration, a big US construction
and engineering firm. The
idea was to supply millions
of tons of pure Bahamian
sand to cement manufactur-
ers and glassmakers on the
US eastern seaboard.
Bardelmeier was Dilling-
ham's shipping adviser at the
time.
"Cement-making was a
cheapy big market,"
Bardelmeier recalled. "You
had to deliver a ton of arag-
onite to General Portland
Cement in Tampa for $2.
That meant 90 cents per ton
for freight, which was pretty
skinny. So the netback to
Ocean Cay was maybe $1.10
per ton. Profitability lay in
producing at least five mil-
lion tons a year."
And coincidentally, in
1979 Dillingham was
involved in building a float-
ing OTEC prototype plant
off Hawaii. That was soon
*after the Arab oil embargo
of 1973 had spurred intense
interest in renewable energy
systems.
After Dillingham sold its
Bahamas aragonite opera-
tion, Bardelmeier tried to
enlist Willard Rockwell, the
chairman of one of Ameri-
ca's largest technology com-
panies, who had become
famous for his role in build-
ing the Space Shuttle. Rock-


well owned a vacation home
at Cat Cay, an upscale resort
close to the aragonite con-
cession at Ocean Cay.
"He came to Nassau in his
'copter one day and landed
right across from our office
at the Pilot House, climbed
our fire escape and pounded
on the door," Bardelmeier
said. "Unlike the other Cat
.Cayers who didn't welcome
the industrial sights at Ocean
Cay, Rockwell thought he
might buy the aragonite pro-
ject, but after a lot of
research he backed off."
Bardelmeier exploited the
contact with Rockwell to pre-
sent his own proposal for an
OTEC plant at Clifton. In
1984 he told Rockwell that
such a facility would be capi-
tal intensive, but once built
would have virtually no
maintenance, labour or fuel
costs.
"At the southwest corner
of New Providence is an area
of shallow heated sand flats
which adjoin a 6,000-foot-
deep underwater canyon,"
Bardelmeier wrote in his pro-
posal. "Onshore at this point
is the government-owned
electricity plant with its exist-
ing distribution systems...and
the cost of electric power in
Nassau is among the highest
in the western world."
His proposal called for a
private corporation to nego-
tiate a 40-year contract with
the government to build a
40,000kw OTEC power sta-
tion at Clifton Cay, both as a
demonstration project and to
sell power to BEC. He added
that the US government
might be willing to help fund
the project. But Rockwell
turned him down.
In those days the most
expensive parts of an OTEC
plant were the large-diameter
cold water pipes which would
have to extend for a length
of 14,000 feet to a depth of
3200 feet to draw cold water.
There was no experience
then in laying pipe to such
depths, but nowadays oil
industry engineers can lay
large-diameter pipe to much
greater depths.
This became evident a few
years ago when investors pro-
posed replacing the barging
of fresh water from Andros
to New Providence with a 30-
mile undersea pipeline
through the Tongue of the
Ocean. But independent
experts said the pipeline was
an untried technology com-
pared to the reverse osmosis
plants favoured by the Water
& Sewerage Corporation.
"We know exactly what an
RO plant costs, how to build
it, and how it works. They
operate worldwide and pro-
duce drinking water in 10
Caribbean countries success-
fully."
This is essentially the same
argument used when com-


paring ocean thermal energy
with conventional fossil fuel
power generation. Despite
the fact that French Scientist
Jacques D'Arsoval described
the OTEC concept over a
century ago, there has been
slow progress in developing
the engineering systems
to realize its potential.
But at least one Bahamas-
based investor is interested.
Frank Crothers of Island
Corporate Holdings is a
major shareholder of
Caribbean Utilities Compa-
ny in the Cayman Islands (as
well as serving on the board
of a zillion other companies).
Cayman's proposed plant
will produce 10 megawatts of
electricity and 3 million gal-
lons of fresh water per
day. The utility has a memo-
randum of understanding
with the Baltimore-based Sea
Solar International, and offi-
cials are saying that OTEC
electricity could be produced
within three years.
Currently, no OTEC plant
operates at a commercial
scale equivalent to conven-
tional power stations or wind
and mini-hydro plants. But
there is a lot of interest in
Pacific islands like Hawaii,
which has a leading-edge
OTEC laboratory where
working models have been
proven and a deep cold water
pipe is already in place.
In fact, Hawaii exported
about $17 million worth
of desalinated deepsea water
in 2005, marketed as healthy,
pure, mineral-rich drinking
water.
Experts say OTEC facili-
ties can reuse cold outfall
water for air-conditioning,
refrigeration, agriculture and
mariculture.

F or example, David
Melville, a long-time
investor on Rum Cay, grows
organic wheat grass at his
Port Nelson home using only
the nutrients contained in
deepsea water provided by a
Florida company in which he
owns shares. And a few years
ago, another American
investor proposed an OTEC
scheme for Inagua that would
have used deepsea water to
grow several commercial
marine species on land.
But Bardelmeier says the
Bahamas is not tracking sci-
entific developments in the
renewable energy field: "Per-
haps it would be a worthy
role of government to create
a small, non-political entity
to monitor the global scien-
tific community and dissemi-
nate studies to the public
domain, rather than treating
them as secrets or leaving
them to gather dust on a
shelf," he told Rotarians.
"It is only a matter of time
before some of the venture
capitalists who constantly
pass through or live here take
a hard look at building a
modest OTEC plant to sell
power to BEC and get in on
the ground floor of what may
well be a widespread island
industry around the globe in
the next two decades."
What do you think?
Send comments to
larry@tribunemedia.net
or visit
www.bahamapundit.com


m EmoIm


I


I




.. vvcL.JI'urOLM/iI, JI I, JU ,UU/, VUIAbt 9
1


THE TILE KING, FYP LTD


&


THE TRIBUNE


have partnered to supply critically needed
DIALYSIS MACHINES
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.

WHY NOT JOIN US? THEY HAVE!


BAHAMAS
FR E A LTY
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PAGE 10, WEDNESDAY, JUNE 13, 2007 THE TRIBUNE


L NW


FRM page one LP 'approved $90m in contracts


slept contentedly while locals
speculated about her father's
death.
It was after this killing that
police said the possibility of the
incidents being of a retaliatory
nature could not be ruled out.
Officers were first alerted to
the scene of Monday's crimes at
around 10pm, when reports were
received of gunshots fired around
Toote Shop Corner, police said.
Police discovered a male in his
twenties who was shot multiple
times in the body. He was taken
to hospital.
Continuing their investigations
in the area, police discovered the
body of another man shot in
the head in the yard of a house
which stands about 200 feet east
of the Church of God of Prophe-
cy.
A woman claiming to be a
family friend of Mr Armbrister
denied he was likely to have
been involved in a gang. She said
he was a "good boy."
However, she said he had been
involved in altercations in the
area in the past causing her
to warn him only a day before
to "stay from-round here."
The death of two of the three
young men brings the murder
total for the year to 37, following
the double murder of Denise
Clarke of Market Street, 42, and
Livingston Johnson, also 42, last
week for which 33-year-old
Hilfrant Franqois Joseph, who
was on bail for another murder,
was arraigned on Monday.
Echoing sentiments expressed
by Chief Supt Hulan Hanna yes-
terday as he announced new
senior transfers in the force
aimed at addressing rising crime
levels, Assistant Superintendent
Walter Evans said that society
must come together and better
assist police in the fight against
crime.
Dr David Allan, psychiatrist
and longtime social worker, has
said that members of the public
need to be more proactive in
their handling of matters which
may be of police interest -
reporting suspicious activities and
threats so that crimes can be pre-
vented, rather than reacted to
after the fact.


FROM page one

approved during the last year,
17 of them were approved
since January at an approxi-
mate value of $90 million.
Mr Deveaux noted that
much has been said about the
FNM suspending contracts
signed by the former PLP gov-
ernment. To this he highlight-
ed a few recent contracts in
particular that are now being
reviewed.
The first, the TG Glover Pri-
mary School in New Provi-
dence was awarded to ER
Hanna Construction Company
for some $9.99 million, where
work commenced in October
last year.
"The contract period is 30
months. The contractor is
using labour from China to
assist in the construction.
Delays were experienced while
the foundations were
redesigned. The contractor
wrote in February 2007, and
again on May 3, 2007 com-
plaining that workers experi-
enced unexplained rashes and
respiratory complaints.
"The Department of Envi-
ronmental Health took sam-
ples from the site. A letter was
issued to the Contractor sus-
pending the work, at no cost to
the contractor, so that the
Ministry of Health could com-
plete investigation of the com-
plaints. The contract remains
suspended pending the out-
come of the investigation. Par-
liament will be advised of the
outcome of the investigations
in due course," he said.
Second, a Junior High


MINISTER of
Transport and Public
Utilities Earl Deveaux


School in Freeport, Grand
Bahama (Heritage Jr). which
was $5 million less than three
other contracts, is suspended
and under review by a private
Quantity Surveying company.
Another junior high school,
this time in New Providence,
Faith Avenue Jr High, has
been suspended. The project is
some 18 per cent lower than
the Ministry of Works' esti-
mates, and the Ministry of
Education has advised that it
does not have access to all the
property required to construct
the school as a portion of the
land had been leased by gov-
ernment.
"The lessees have been
advised of the government's
intention to end the leases,"
Mr Deveaux said. "In the


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4 : t: 7 ' -.' "


j I


meantime the layout of the
school building has been
adjusted such that the con-
tractor was able to commence
foundation works on one zone
of the building.
"Due to questions raised


concerning the possible conta-
mination of the site from the
neighboring site containing a
large number of dilapidated
vehicles, the Department of
Environmental Health has tak-
en soil and water samples from


Mortgage corporation

FROM page one

al tranche of $50 million in bonds, which was only
half of what was requested by the Ministry of Hous-
ing. Yet, the minister added, the government went
on spending some $90 million in support of
the 1,300 homes it constructed and of which it
boasts.
As a result of the overall indebtedness of the
Ministry of Housing to the Mortgage Corporation,
which includes a carry over loan from 2002, and a
previous bridge loan from NIB to allow for the con-
tinue financing of homes, Mr Russell said that anoth-
er bridge loan is now required to sustain the corpo-
ration until the government can bring to parliament
a request for another tranche of bonds.
"The government of the Bahamas will have to
consider a request for a new bond issue to settle
the indebtedness of the corporation to repay the
loan to the NIB and to move forward with a housing
programme that includes remediation of work for
which indebtedness was incurred," he said.
The minister also made public the overstaffing
of the NIB department by the previous govern-
ment, which was discussed by Prime Minister Ingra-
ham at one of his first press conferences after return-
ing to office.
As of January 2007, Mr Russell said, NIB hired on
instruction, 90 permanent workers bringing the total
staff count at the board to nearly 500 people when
NIB's target staff level is 380.
"It is a fair bet to say that the National Insurance
Board needs to implement hiring policies that are
based on transparency and need rather than imme-
diate short term political benefit," the new minister


FROM page one

of 2006, this year's report
reflects the new focus on labour
trafficking.
Therefore, he said, the report
points out that the Bahamas'
current laws do not protect vic-
tims of human trafficking and
does not specifically address
labour trafficking,
Mr O'Connor said that the
report specifically notes that
some Haitian immigrants may
be subjected to conditions of
involuntary servitude.
"The Bahamas remains a
special case for a second con-
secutive year because the pres-
ence of large numbers of
undocumented migrants in the
country continues to raise con-
cerns that there may be a sig-
nificant number of trafficking
victims in need of assistance,"
the report said.
The 2007 Trafficking in Per-
sons report further states that
with approximately 25 per cent
of the Bahamas' population
consisting of Haitian nationals
- who are mostly in the country
illegally "some may be sub-


US repc
jected to conditions o
untary servitude."
"Although these m
arrive voluntarily
Bahamas to work as d
servants, gardeners, and
struction, local sources
that labour exploit
these workers may b
spread; employers coer
to work long hours for
or below the minimum
by withholding docum
threatening arrest and
station the report said
The document also
that some commercial
exploitation of worn
minors has been ident
the Bahamas.
Mr Connor said that
commends the Bahar
establishing a traffic
persons task force, bu
that it is recommend
trafficking in persons b
illegal.
In the US' 236-page
of global efforts to coml
picking in persons, 16


the site for testing. The same
team evaluating the TG
Glover site will evaluate the
Faith Avenue site. A report is
awaited while work continues
on one block only of the
intended school," he said.


Store clerk stabbed

FROM page one

vicious crime.
Mr Rahming said sometime at about 4pm
on Monday persons discovered the young
store clerk lying on her back near the
entrance door of the baby clothing store,
located in the John Rolle Building at
Bartlett Hill.
Ms Louis had apparently suffered severe
injury to the stomach area.
The two young men, who found the vic-
tim, ran to a nearby establishment and
asked persons there to call the police and an
ambulance.
When officers from the Eight Mile Rock
Police Station and Central Detective Unit
arrived at the scene, Ms Louis was still
alive, but drifting in and out of conscious-
ness.
She was rushed by ambulance to Rand
Memorial Hospital, where she was imme-
diately taken into the operating theatre for
surgery.
She was admitted to the ICU, where she


died.
Supt Rahming said police believe that
robbery was the motive for the crime.
According to preliminary investigations,
it is believed that the victim was stabbed
with a sharp object following an apparent
struggle with the culprit.
Police are appealing to the public for
assistance in the matter. Persons with infor-
mation are asked to call the Central Detec-
tive Unit at 352-9774/5, or 350-3089.

tries seven more than last
year are assigned into Tier 1,
9 I Tier 2, Tier 2 watch list, Tier 3
or into a "special cases" cate-
)f invol- gory.
Countries with Tier 3 rank-
nigrants ing do not fully comply with
in the the minimum standards of the
domestic US Congress' Trafficking Vic-
d in con- tims Protection Act (TVPA)
indicate of 2000, "and are not making
ition of significant efforts to do
e wide- so "
rce them Tier 2 countries are those
r no pay that do, not fully comply with
m wage minimum standards but are
nents or making significant efforts to do
I depor- so.
d. Countries listed as Tier 1, the
o states highest category, are nations
I sexual that comply with the minimum
ien and standards.
tified in Outside of these tiers there is
also a "special case" category -
the US to which the Bahamas belongs
mas for for those countries about
king-in- which information is needed to
t added determine the scope or
ed that response to the trafficking
be made problem.
The Bahama is joined in this
survey category by Barbados, Brunei,
bat traf- Haiti, Iraq, Ireland, and
4 coun- Tunisia among others.


BTC reserves the right to reject any, or all Tenders.


from January until election'


YOUR CONNECTION TO THE WORLD


THE BAHAMAS TELECOMMUNICATIONS COMPANY LTD.


TENDER GENERAL INSURANCE

2007- 2008

The Bahamas Telecommunications Company Ltd. (BTC) is pleased to invite
Tenders to provide the Company with General Insurance coverage. Policies
include Employers Liability, Group Personal Accident, Open Marine Cargo,
Fidelity Guarantee and Public/Products Liability.

Interested companies/firms may collect a Tender Specification from the
Security's Desk located in the Administrative building on John F. Kennedy
Drive, between the hours of 9:00 a.m. and 5:00 p.m. Monday through Friday.



The deadline for submission of tenders is June 22nd, 2007. Tenders should
be sealed and marked "TENDER FOR GENERAL INSURANCE" and
should be delivered to the attention of the President and CEO, Mr. Leon
Williams.


PAGE 10, WEDNESDAY, JUNE 13, 2007


THE TRIBUNE











New arrivals at Ardastra Gardens


M THE flamingo chick's father looks in on its progress


ARDASTRA Gardens has
repeated its success with the
Caribbean Flamingo, with two
chicks arriving at the gardens
this past week.
Staff at Ardastra are excited
about the arrival of the chicks,
as they have only been breeding
the flamingo successfully since
2001, despite the fact that the
Bahamas' national bird has
been at the zoo since the late
1950s.
The new editions are awaiting
the arrival of four other play-
mates later this month.
"Key to our success in the
past few years has been a
change in diet (of the flamin-


gos) and modifications to their
pond," said Jade Greensword,
curator at Ardastra.
She added: "In the past,
we've had a problem with the
spring rains destroying the eggs,
so this year, we moved their
nesting area to higher ground,
protecting the eggs from being
drowned. This modification has
proven successful and we're
very happy that we did it."
To date, Ardastra Gardens
has successfully hatched 14
Caribbean Flamingos. These
flamboyant birds can be seen
at the Gardens daily putting on
their world-famous marching
show.


Share your news
The Tribune wants to hear from people who are
making news in their neighborhoods. Call us on
322-1986 and share your story.
i~


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St Avndrew's school convgratulates

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Leroy 'Barrington' Archer
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Andrew Beneby
Natalya Beneby
Michael Bethel
Ashley Brown
Natasha Brown
Ashleigh Burrows
Kenrece Carey
Sakinah Cargill
Amy Collins
Leroy Dames


Demetri Darville
Diandrea d'Arville
Gabrielle Dawkins
Shaunna Dawkins
Hillary Kieran Deveaux
Morgan Donathan
Harold Dorsett II
Liam Farmer
Andrew Fletcher
Amber Francis
Charles Hamilton
Alexander Holden


Nicholas Holvik
David Howard
Danielle Ingraham
Kara Ingraham
Christina Johnson
Jonathan Johnson
Kristin Kelly
Maria Lee
Ivan Lochan
Dominique Lowe
Danny Macdonald
Brittany Major


Brent McNeil
Sean McWeeney
Meaghan Miller
Stefan Moree
Alaina Mortimer
Alexander Nicolier
Jessica Nixon
Traceyann Perpall
Lambert Rahming
Simone Ritchie
Joslyn Roberts
Glenda Roker


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Gabriella Suighi
Nicholas Sweeting
Jonathan Sykes
Eddina Taylor
Mikhail Thompson
Nomiki Tsakkos
James Virgill
Paige Waugh
Ashley Whyms
Mei-Lin Wong


* THE baby flamingo is fed one of its first meals


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WEDNESDAY, JUNE 13, 2007, PAGE 11


THE TRIBUNE


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WEDNESDAY, JUNE 13, 2007


..." .",, ..:.t --Z- ---


SECTION


business@tribunemedia.net


Miami Herald Business,


Stocks, Analysis, Wall Street


Ethanol to give Bahamas




$1/2bn export industry



* Business executive says that producing corn for ethanol production in the Bahamas could boost employment and

entrepreneurship; enhance foreign exchange reserves; reduce Nassau overcrowding; and bring down shipping rates


* By NEIL HARTNELL
Tribune Business Editor
T he Bahamas
could develop an
export industry
that generates
more than $1/2
billion per year in foreign
exchange earnings if it was to
exploit the growing global
demand for alternative ener-
gy by producing corn for
ethanol production, a business
executive told The Tribune
yesterday.
Tony Joudi, president of
construction, development and
project management firm,
FTC, said that developing such


an industry would increase
entrepreneurship in the
Bahamas, expand foreign cur-
rency reserves, boost the ship-
ping industry by giving it some-
thing to carry back to the US,
diversify the Bahamian econo-
my and encourage families to
move back to the Family
Islands, reducing overcrowd-
ing and congestion on New
Providence.
Mr Joudi urged Bahamians
and the Government to exploit
this nation's proximity to the
US, climate and fertile land for
growing corn, adding that the
creation of a 'comrn-for-ethanol'
industry would be assisted if
the Government could allocate


some 500,000 acres to it on
islands such as Andros, Abaco,
Eleuthera and Long Island.
One acre could produce 149
bushels of corn, Mr Joudi said,
the average yield per acre in
the US, and the Bahamas' cli-
mate meant this nation had
"the potential to grow two
crops per year".
With corn ethanol prices cur-
rently pushing upwards to $4
per bushel, Mr Joudi said that
assuming this price and 149
bushels per acre, this would
generate $298 million in gross
export income from one crop if
it was exported to the US for
ethanol production.
Given that the Bahamas


would have the ability to pro-
duce two crops per year, this
gross export earnings would
double to $596 million per
year, Mr Joudi explained.
Breaking this down, Mr Jou-
di said that if 5,000 families
were each able to purchase or
be granted 100 acres for pro-
ducing ethanol corn, assuming
the $4 per bushel price, 149
bushels per acre and two crops
per year, each family would
have the potential to earn
$119,200 in gross income per
year.
"We have so much good, fer-
tile land in the Bahamas," Mr
Joudi told The Tribune. "Let
us, for once, be an export


country."
Demand for alternative
forms of energy, such as
ethanol, is only expected to
increase in the major
economies such as the US, in
turn increasing demand for
corn to be used in ethanol pro-
duction.
In 2006, production of the
ethanol biofuel reduced US oil
imports by 170 million barrels,
but Mr Joudi pointed out that
US farmers tended to concen-
trate on producing corn for
human consumption, rather
than the hybrid corn for use in
ethanol production which is
the animal feed variety. This
would leave a potential gap for


the Bahamas to exploit.
"Ethanol is in big demand,
and the United States is look-
ing to import corn from the
Caribbean countries close to
them for ethanol production,
because eventually they're
going to run out of oil," Mr
Joudi said.
"We need to start looking
for diversification. We cannot
depend on tourism all the time.
If something major happens in
the world, we could starve.
This country has the potential
to be self-sufficient."
He suggested that if ethanol

SEE page 5


y~ *~~Y


v"
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-. ^ :,.; :...: ,, /


^ 1
1 ..- L
- -. .^ "_


* FLYING HIGH- Baha Mar Resorts' chairman and chief
executive Sarkis Izmirilan (in front on left side of flag) with
Minister of Tourism Neko Grant (in front on right side of flag)
(Photo: Timothy Clarke/Tribune Staff)


Baha Mar partners


staying the course


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
BAHA Mar Resorts' joint
venture partners, Harrah's
Entertainment and Star-
wood Resorts, have not
walked away from the $2.4
billion Cable Beach rede-
velopment, the company's
chairman and chief execu-
tive said yesterday, although
every day that passed saw
the risk they might exercise
escape clauses and withdraw
increase.
While he was dissapointed
that things have not moved
faster, Sarkis Izmirilan said
he was confident Baha Mar
will rise on Cable Beach.
Speaking with the press
following the flag raising and
rebranding of the former
Radision resort to the Sher-
aton at Cable Beach Resort,
Mr Izmirlian admitted that
while there have been chal-
lenges, he is still confident
the project will take place.
He admitted that he was
"not unhappy but disap-


pointed" that the project has
not moved faster.
"But again, I go back and
say that this is a very com-
plicated project, and as with
any complicated project you
try to come up with an esti-
mate of the timeline," Mr
Izmirlian said.
"Those timelines move
because that is the way that
life is you miss deadlines
on many things. We believe
that the support of the pre-
sent government will get us
where we want to be. This
project will be opened one
day. I cannot give you a date
today, but I know that Baha
Mar will rise on Cable
Beach.
"We have not lost any
partners, and we appreciate
their support of this project
and their support of the
Bahamas. But every day
that goes by, the risk
increases. That's the way the
world works. We have been
through two governments
now, two takeovers of the

SEE page 6


Exploitation of migrant workers


'exaggerated' by US State reports


* By NEIL HARTNELL
Tribune Business Editor
TWO attorneys yesterday urged the
Government to introduce laws and make
amendments to prevent forced labour and
its exploitation in the Bahamas, although
some suggested that abuses were not as
widespread as the US State Department's
annual report on human trafficking sug--
gested.
The US administration said limited data
suggested there was "a possible labour
trafficking problem in the Bahamas", and
urged the Government to become more
proactive in dealing with any problems by
"enacting laws to prohibit all forms of
trafficking in persons, particularly forced


labour of adults".
Obie Ferguson, labour attorney and
president of the Trades Union Congress
(TUC), said the Bahamas had adopted an
International Labour Organisation (ILO)
convention "that prevents forced labour",
but he and others indicated that there may
be no specific statutes that address the
problem.
"We should have legislation in effect to
prevent forced labour," Mr Ferguson
added. "It would be, in my view, a good
thing for the Government to consider
making the necessary amendments."
Eliezer Regnier, a Nassau attorney of
Haitian descent, added that he "fully
agreed" with the US State Department's
urging for laws to prohibit forced labour.


He said: "I think we should endorse all
international laws that protect the rights of
the worker. It's the only way we can guar-
antee these people protection by adopting
international standards."
The US State Department report said:
"The Bahamas may be a destination coun-
try for men, women and children traf-
ficked for the purpose of labour exploita-
tion.
"Approximately 25 per cent of the coun-
try's population consists of Haitian nation-
als, who .are mostly in the country illegal-
ly. Of the 20,000 to 50,000 undocumented
Haitian immigrants in the Bahamas, some

SEE page 6


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PAGE 2B, WEDNESDAY, JUNE 13, 2007


THE TRIBUNE


Baha Mar invests $135m in Cable Beach project


FS By CARA BRENNEN-
BETHEL
Business Reporter
BAHA Mar Resorts yester-
day reached a first milestone in
its $2.4 billion transformation


* Resort developer says 100 contracts ranging in value from $5,000 to $35m handed out, with 700 construction jobs created
Flag raised for new Sheraton resort


of the Cable Beach strip as it
hoisted the flag on an $85 mil-
lion renovation to turn the


Radisson into the Sheraton
Cable Beach Resort.
At the flag raising yesterday,


Don Robinson, Baha Mar
Resorts' president, announced
that to date the company has


invested $135 million into its
Cable Beach Resorts, repre-
senting more than 100 con-
tracts for Bahamian businesses
ranging in value from $5,000
to 35 million. It had created
more than 700 construction
jobs.
Baha Mar also announced
the name of the Sheraton's
new general manager, Hans
Altenhoff, who has managed
more than nine resorts over
the last 20 years, most recently
the Sheraton Bar Harbour, a
659-room beach resort in Flori-
da.
Mr Robinson said the flag-
raising represents a new era
for tourism in the Bahamas, in
which the Sheraton will play a
vital role.
Tourism
According to Tourism Min-
ister Neko Grant, the hotel will
help reinvigorate a previously
dying Cable Beach, taking it
area into a new tourism golden
age.
He added that the presence
of such a solid brand would
provide a positive perception
in the market place, and the
training to Sheraton standards
of resort staff could only have
a positive impact on the hospi-
tality skills of Bahamian work-
ers.
Mr Grant said the resort,
coupled with Atlantis, provide
a diversity of competition at
varying price points for visi-
tors to the Bahamas.
He also expressed his plea-
sure at the use of Bahamian
workers, contractors and arti-
sans in the creation of the
Sheraton, particularly the art
work in the resort which is all
done by Bahamian artists.
In conveying his vision for
the resort, the new manager
told The Tribune that what will
make the property successful is
the attitude and dedication of
its workers.
The hotel officially reopened
today with an occupancy level
of just under 30 per cent. ..


FOCOL

confirms

stock

split

plan

FOCOL Holdings, the
BISX-listed petroleum
products supplier, yes-
terday confirmed Tribune
Business's exclusive story
that the company was
mulling a thrsee-for-one
stock split.
The company said in a
statement: "Focol's
Board of Directors can
confirm that a stock split
is under consideration.
However, no final deci-
sion has been made
regarding the specific
terms and conditions of
a proposed stock split by
Focol Holdings Ltd.
"Once Focol's Board
of Directors makes a
final determination
regarding the proposed
stock split, the Board will
ensure a complete dis-
closure on the same."


Share

your

news
The Tribune wants to hear from
people who are making news in
their neighborhoods. Perhaps
you are raising funds for a good
cause, campaigning for
improvements in the area or
have won an award.
If so, call us on 322rl986:and
.share your story.., .


BUSINESS













BUSINESS


i WEDNESDAY, JUNE 13,2007 INTERNATIONAL EDITION


WIRELESS


S:::: : Nokia shares Bluetooth-like technology
2,549.77 -22.38 '


'10-YR NOTE 5.30 +.14 A
CRUDE OIL 65.35 -.62 V



Stocks


fall as


10-year


note hits


S5.27%

6Y MADLEN READ
Associated Press
NEW YORK Wall Street
plunged Tuesday as investors,
driving the Dow Jones indus-
trial average down nearly 130
points, grappled with a seem-
ingly relentless rise in bond
Shields.
It was a fitful trading session
.kt saw stocks tumble, claw
heir way back and then plum-
.. etagain when the yield on the
.O1-year Treasury note soared to
ve- year high of 5.295 percent.
The climb in bond yields exac-
erbated jitters about mortgage
-ates rising, which could hurt
,'-,he already sluggish housing
.market, and about the Federal
Reserve hiking interest rates,
which would slow down corpo-
rate dealmaking.
Surging takeover activity had
helped boost stocks to record
levels until a week ago, when
< the benchmark 10-year Trea-
sury note's yield passed 5 per-
cent, unnerving stock investors
-and-triggering a selloff.
The rise in Treasury yields
Tuesday was stoked by a tepid
reaction to the government's
auction of $8 billion in new 10-
year notes, and further aggra-
vated by confounding com-
ments from former Federal
Reserve Chairman Alan Green-
span, who said he is not worried
about foreign governments sell-
ing their U.S. Treasury hold-
ings, but added that yields will
likely rise in the future.
The Dow Jones industrial
average fell 129.95, or 0.97 per-
cent, to 13,295.0L The blue chip
index is 381 points, or 2.8 per-
cent, below its record close of
13,67632, reached June 4.
The broader stock indexes
also declined. The Standard &
Poor's 500 index fell 16.12, or
L07 percent, to 1,493.00, while
the Nasdaq composite index
dropped 22.38, or 0.87 percent,
to 2,549.77.
Many analysts are viewing
the recent pullback in the stock
market as a short-term dip
ahead of the second-quarter
earnings season, which begins
in earnest in July. Yardeni
pointed out that with recent
estimates of year-over-year
.earnings averaging about 4 per-
cent, financial results could eas-
ily beat expectations as they did
*in the first quarter.
The dollar was mixed against
other major currencies, while
,gold prices fell.
Light, sweet crude futures
fell 62 cents to $6535 a barrel on
the New York Mercantile
Exchange.
Declining issues outnum-
besed advancers by about 6 to 1
on the New York Stock
Exchange, where consolidated
volume came to 2.99 billion
shares, up from 2.47 billion
shares Monday.
The Russell 2000 index of
smaller companies dropped
1.46, or 1.38 percent, at 82L72.
Investors are awaiting retail
sales data on Wednesday, the
Producer Price Index on Thurs-
day, and the Consumer Price
Index on Friday. The PPI and
SCPI are closely watched infla-
Stion gauges.
t Overseas, Japan's Nikkei
;; stock average fell 0.41 percent,
Britain's FTSE 100 fell 0.72 per-
cent, Germany's DAX index fell
0.36 percent, and France's
CAC-40 fell 0.71 percent .


BY PETER SVENSSON
Associated Press
NEW YORK The consortium
behind the Bluetooth wireless stan-
dard announced Tuesday that Nokia,
the world's largest maker of cell-
phones, is contributing a technology
that promises to bring the wireless
connections to devices that are too
small for regular Bluetooth chips.
The technology, called Wibree,
opens up the possibility of a host of
small wearable gadgets, like watches,
heart rate monitors, pedometers and
pill boxes that communicate with
Bluetooth-equipped cellphones or
computers. A watch could display the
user's incoming text messages, for
instance, or an action figure toy could
sense the presence of other toys.
Wibree has a lower data rate and


much lower power consumption than
Bluetooth, which is in widespread
use as the interface between cell-
phones and wireless headsets. That
means smaller batteries that don't
have to be charged often, unlike Blue-
tooth headsets.
Nokia, which is based in Finland,
started developing Wibree in 2001,
and announced the technology in
October last year. It formed a Wibree
Forum with other companies to
license and exploit the technology, an
effort that will be subsumed by the
Bluetooth Special Interest Group,
which includes about 8,000 compa-
nies.
"Our members have been asking
for an ultra low power Bluetooth
solution. With Nokia's innovative
development and contribution to the


Bluetooth specification with Wibre
we will be able to deliver this
approximately a year," said Micha
Foley, director of the Bluetooth SI(
The decision by the Bluetooth S5
to embrace Wibree validates Nokia
technology, but it also means th
Finnish company is giving away ti
results of a multiyear developme
effort as Wibree will now be license
royalty-free. Such a move is n
uncommon in the technology field-
Sweden's LM Ericsson developed
and then gave away the original Blu
tooth technology in the 1990s, calc
lating that widespread and fast ado
tion would allow the company
benefit more from its leadership thf
it would from a licensing scheme.
Nokia had been looking to tu:
Wibree over to an open standard


TAINTED FOOD


PHOTOS BY TEH ENG KOON/AFP-GETTY IMAGES
TESTING: Chinese lab technicians collect food samples for a safety test in Beijing. Safety officials
have urged better surveillance at all levels and promised to set up a food recall system, the
country's first, by year end.



Chinese: Food safety



is under control


BY AUDRA ANG
Associated Press
BEIJING China played down
international concerns about
tainted food exports on Tuesday,
saying the problems were not as
bad as reported and displaying
seized counterfeit products to
show authorities were enforcing
safety protections.
To make its case, the govern-
ment organized a rare visit by more
than 100 foreign and domestic
reporters to a food safety lab and
storehouse where bogus goods
from chewing gum to soy sauce
were stacked on shelves and
arrayed in rows.
"Yes, there are now some prob-
lems of food safety of Chinese
products. However, they are not
serious. We should not exaggerate
those problems," Li Dongsheng,
vice minister for the State Adminis-
tration for Industry and Commerce,
told reporters at the lab. China has
developed "very good, very com-
plete methods" to regulate product
safety, Li said.
China's poor safety record has
increasingly come under scrutiny
as its goods make their way to
global markets. Major buyers such
as the United States, Japan, and the
European Union have pushed for
Beijing to improve inspections.
The pressure has increased in
recent months as U.S. inspectors
have banned or turned away Chi-
nese exports including wheat glu-
ten tainted with the chemical mela-
mine, blamed for dog and cat
deaths in North America. Monkfish
containing life-threatening levels of
pufferfish toxins, drug-laced frozen
eel and juice made with unsafe
color additives have also been on
the growing list of unacceptable
products.
The U.S. Food and Drug Admin-
istration has also stopped all
imports of Chinese toothpaste to


COUNTERFEIT: Chinese authorities put counterfeit products on
display Tuesday to show they are enforcing safety protections.


test for a deadly chemical report-
edly found in tubes sold in Austra-
lia, the Dominican Republic and
Panama.
In response, China has gone on
the offensive. In the past week, the
country has highlighted at least
four American products as unsafe
or not up to Chinese safety stan-
dards.
But at the same time, safety offi-
cials have urged better surveillance
at all levels and promised to set up
a food recall system, the country's
first, by year end.
"We are very concerned about
food safety in China and very con-
cerned about protecting the rights
of consumers," Li said. "But we do
not want to cause panic among the
people."
Li, whose agency oversees
domestic product quality, insisted
China was taking the issue seri-
ously.
"There is now largely no prob-
lem with food safety. It is an issue
the people care about greatly," Li


said. "So if there is a small problem,
it becomes a big problem for us. So
basically for now we can guarantee
food safety."
At the Beijing food lab, techni-
cians wearing white coats tested
packages of spring rolls, dumplings
and other frozen foods for toxic
chemicals. Others sat at computers
analyzing results.
In another room, a variety of
fake products were displayed
including Wrigley's chewing gum,
Shiseido skin care products and
Levi's jeans.
China has long been the world's
leading source of fake medicines
and drugs, illegally copied music,
movies, designer clothes and other
goods. U.S. officials say its exports
cost legitimate producers world-
wide up to $50 billion a year in lost
potential sales.
Li said government food safety
procedures include a hot line set up
in 1999 that has grown into a sur-
veillance network of local groups
and government bodies.


ee,
in
uel
G. roup from the beginning, said Harri
IG
a's
he
he
nt







edFederal
MARK LENNIHAN/AP
lot
_ WIBREE: A Sony Ericsson
ed wristwatch communicates
de- wirelessly with a user's
tu- cellphone.
p-
to group from the beginning, said Harri
an Tulimaa, Nokia's head of technology
out-licensing. The move will help
rn ensure Wibree will be deployed as
ds widely as possible, he said Tuesday.
U.S. ECONOMY


Federal












dthat the deficit through May totaled
running









lower$148.5 billion, down 34.6 percent from
the same period a year ago.


BY MARTIN CRUTSINGER
Associated Press
WASHINGTON The federal
deficit is running sharply lower
through the first eight months of this
budget year as growth in revenues
continues to outpcrease to the growthain
spending.
The Treasury Department said
that the deficit through May totaled
$148.5 billion, down 34.6 percent from
the same period a year ago.
That improvement came even
though the deficit in May increased
to $67.7 billion, up 57.8 percent from
May 2006. However, analysts attrib-
uted this big increase to te fact that
ing are both at record levelernals. Revenuewas
more efficient in processing tax
I returns this year, meaning more reve-
nue was collected in April with fewer
tax collections left to be counted in
May.
For the year, revenue and spend-
ing are both at record levels. Revenue
gains are up 8 percent while outlays
are up at a
slower pace of
2.5 percent,
compared to revenue and
the same
period a year spending are
ago. Growth
in spending both at record
has been levels.
slower this
year in part Revenue
because of the
absence of last gains are up
year's huge
outlays for percent
hurricane while outlays
relief.
T h e are up at a
increase in
revenues has slowerpace of
been sup- 2.5percent
ported by
continued
strength in corporate profits and low
unemployment, which has helped to
push individual income taxes higher.
For the 2007 budget year, which
ends on Sept. 30, the Congressional
Budget Office is projecting a federal
deficit of $177 billion. That would be
down 28.7 percent from last year's
imbalance of $248.2 billion, which
had been the lowest deficit in four
years.
The federal budget was in surplus
for four years from 1998 through 2001
as the long economic expansion
helped push revenues higher.
In the budget President Bush sent
Congress in February for 2008, he
projected that the government can
return to a surplus by 2012 even if his
first-term tax cuts are made perma-
nent.
Democratic critics, however, con-
tend that Bush's spending blueprint
was based on unrealistic assumptions
and left out major spending items
such as the full costs of the Iraq war.
They also argue that the current
improvement in the deficit will be
only temporary as the 78 million baby
boomers retire, pushing spending on
Social Security and Medicare up.


THE MARKETS"
STOCKIS Ml ITI IAI FUN I SC B R


DOW 30
S&P 500
'NASDAO


M1 I el I = - _,-~bb--P4cZ1 --e --- I' Lsr I


I











4B I WEDNESDAY JUNE13, 2007 INTERNATijONALI EDil ION MiamiHerald.com I THE MIAMI HERALD

S&P500 -1612 NASDAQ -22.38 DOW W -12:9.95 6-MO T-BILLS V -.02 30-YR T-BONDS +.11 GOLD -5.80 EURO -.0042 CRUDE OIL -.62
1,493.00 1612 2,549.77 -22.3813,295.01 4.79% 5.35% $648.50 1.3317$65.35




Money&Markets


D J F


StocksRecap

NYSE NASD
Vol. (in mil.) 2,992 2,025
Pvs. Volume 2,465 1,597
Advanced 462 758
Declined 2886 2264
New Highs 35 46
New Lows 137 87


Name Last Chg
ABB Ltd 21.24 -.41
ABN Amro 46.43 -.54
ACE Ltd 61.94 -.40
AES Cp If 21.05 -.66
AFLAC 52.90 -.69
ASML Hid 25.04 -.48
AT&T Inc 39.08 -1.04
AU Optron 16.66
AXA 41.19 -.81
AbtLab 53.34 -.72
AberFitc 77.53 +.18
Accenture 39.50 -.06
AdobeSy 42.73 -.26
AMD 13.80 -.11
Advantst rs 41.76 -1.09
Aegon 19.43 -.37
Aetna 51.77 -.52
Agilent 37.47 -.24
Ahold 12.52 -.28
AFrance 46.45 -1.39
AirProd 78.88 -.28
AkamaiT 45.59 -.93
Akzo 80.35 +.22
Alcan 82.43 -.22
AlcatelLuc 13.10 -.35
Alcoa 39.34 +.04
Alcon 129.82 -2.52
AligEngy 50.45 -.13
AllegTch 106.70 -3.00
Allergan 118.57 -1.51
AlliBern 90.15 +.06
Allianz 22.20 -.37
AldIrish 56.04 -1.35
Allstate 60.65 -.48
Alltel 67.75 -.36
AlteraCp If 22.11 -.26
Altria s 70.14 -.08
Alumina 25.63 -.45
AmBevC 69.25 -.26
AmBev 69.17 -.77
Amazon 70.07 -1.10
AmbacF 87.59 -1.48
Amdocs 38.28 +.07
Ameren 49.01 -.61
AMovilL 60.32 -.92
AMovilA 60.24 -1.07
AmCapStr 44.67 -1.22
AEP 44.62 -.42
AmExp 62.12 -.94
AmlntGp If 71.54 -.11
AmStand 57.88 -.72
AmTower 42.23 +.31
Ameriprise 62.76 -1.16
AmeriBrg 50.98 +.04
Amgen 57.46 +.05
Amphenol s 34.97 -.54
Anadarko 50.17 -.07
AnalogDev 35.82 -.28
AngloAm 29.02 -.29
AnglogidA 40.16 -.77
Anheusr 52.91 -1.06
Aon Corp 41.80 +.12
Apache 82.54 -.95
ApolloGrp 47.47 -1.21
Apple Inc 120.38 +.19
ApidMati 18.50 -.12
ArcelorMit 60.76 -1.24
ArchDan 34.28 -.10
ArchstnSm 59.80 -.45
Assurant 58.16 -.60
AstraZen 51.48 -.43
AustNZ 121.24 -2.01
Autodesk If 45.79 +.96
AutoData 48.05 -.58
AutoZone 134.21 -.21
AvalonBay 120.89 -1.95
Avaya 17.14 +.10
AveryD 65.31 -.60
Avnet 42.03 -.47
Avon 38.03 -.21
BASF 116.80 -1.22
BB&T Cp 41.15 -.57
BCE gn 37.10 -.54
BG Grp 75.29 -.82
BHP BillLt 55.13 -.96
BHPBil plc 51.44 -.82
BJ Svcs 28.41 -.12
BMC Sft 31.84 -.66
BP PLC 66.95 -.24
BT Grp 63.45 -.40
BakrHu 82.81 -1.17
BcBilVArg 23.56 -.56
BcBrades s 24.01 -.51
Bncoltau 42.75 -1.23
BcoSnCH 18.14 -.67
BcSanChile 49.42 +.03
BkofAm 49.66 -.39
Bklrelnd 81.86 -1.77
BkMont g 64.33 -1.22
BkNY 39.68 -.40
BkNova g 48.71 -.01
Barclay 57.59 -.37
Bard 84.28 -.23
BarrickG 28.21 -.46
Baxter 56.23 +.41
BayerAG 70.79 -.23
BearSt 146.00 -2.39
BectDck 74.44 -.56
BedBath 37.43 -.07.
Berkley 32.36 -.68
BerkHaA 109500 +100
BerkH B 3618 -14
BestBuy 47.41 -.05
Biogenldc 51.07 -.14
Biomet 45.48 -.02
BlackRock 155.30 +.97
BlockHR 22.79 -.79
Boeing 96.48 -1.07
BostProp 106.45 -2.32
BostonSci 16.05 -.12
BrMySq 28.69 -.49
BritATob 65.45 -.35


Name Last Chg
CoalcorpMino .66 -.01
Nexen Inc 31.65 -.50
T D Bank 72.26 -1.23
BreakwaterRes 2.61 +.07
NuvoResearch .32 +.06
Oilexco o 12.34 +.12
UTSEngyCorp 5.36 +.06
BarrickGold 30.03 -.32


2,500


2,400


S&P 500 2,300
Close: 1,493.00
Change: -16.12 (-1.1%)
2,200
M A M J


HIGH LOW CLOSE CHG. %CH(


DOW 13449.50 13294.61
DOW Trans. 5091.60 4994.49
DOW Util. 495.08 487.67
NYSE Comp. 9841.53 9724.41
NASDAQ 2576.89 2547.99
S&P 500 1511.33 1492.97
S&P 400 899.75 889.18
Russell 2000 831.91 819.75
Wilshire 5000 15260.26 15084.36


Name Last Chg
BritSky 50.14 -.77
Broadcom 30.10 -.64
BrkfldAs gs 37.94 -.75
BrkfldPr s 24.67 -.72
BungeLt 77.11 +.24
BurlNSF 86.54 -1.91
CA Inc 25.45 -.06
CB REIlis 36.34 -.26
CBOT 201.01 -.53
CBS B 32.83 -.29
CDW Corp 84.95 -.24
CH Robins 51.50 -1.17
CIGNA s 54.41 -.37
CIT Gp 58.17 -1.01
CNA Fn 49.96 -.60
CNH Gbl 46.45 -.48
CNOOC 103.83 -1.82
CPFL En 54.59 -1.94
CRH 47.42 -1.35
CSX s 43.31 -1.69
CVS Care 37.15 -.30
CablvsnNY 35.51 -.24
CadbyS 55.02 -.33
Cadence 23.41 -.18
Cameco gs 51.08 -.87
Cameron 69.64 -.57
CampSp 38.58 -.39
CIBC g 91.65 -1.71
CdnNRy g 52.41 -.60
CdnNRsg 65.23 -.63
CP Rwy g 69.59 -1.27
Canon s 58.23 -.72
CapOne 79.70 -.87
CardnlHIth 71.10 -.83
Carnival 49.70 +.78
CarnUK 50.51 +.48
CarolinaGp 78.62 +.03
Caterpillar 78.08 -.67
Celgene 57.93 -1.93
Cemex s 38.78 -.76
Cemig pf s 20.81 +.30
Cemig s 41.02
ChesEng 35.39 -.01
Chevron 80.56 -.80
ChiMerc 548.50 -8.57
ChinaLfe s 47.00 -.67
ChinaMble 47.08 -.22
ChinaNet 52.21 -.94
ChinaPet 107.11 -2.78
ChinaTel 57.65 -1.08
ChinaUni 14.64 !-.50
Chubb 53.61 -.80
ChungTel 18.44 -.31
CinnFin 44.93 -.09
Cintas 38.77 -.17
Cisco 26.06 -.26
Citigrp 52.60 -.87
CitrixSy If 34.04 +.04
ClearChan 38.30 -.15
ClearCh 29.18 +.10
Clorox 63.96 -.79
Coach 47.48 -.59
CocaCE 22.40 -.28
CCFemsa 41.82 -.88
CCHellen 44.46 -.22
CocaCI 51.14 -.49
CogTech 75.50 -.87
ColgPal 67.49' +.27
Comcast s 26.15 -.22
Comc sp s 26.05 -.23
Comerica 61.70 -1.23
CmcBNJ 33.36 -.52
CVRD 43.38 -1.47
CVRD pf 36.17 -1.33
CompsBc 67.74 -1.05
CompSci 54.74 -.86
ConAgra 25.44 -.07
ConocPhil 77.11 -.76
ConsolEngy 45.13 -1.05
ConEd 46.11 -.41
ConstellEn 85.53 -.59
Coopers 53.15 -1.05
Corning 25.30 -.64
Costco 55.16 -.54
CntwdFn 38.10 +.26
CoventryH 60.54 +.13
CredSuiss 71.12 -1.48
CrwnCstle 35.24 -.26
Cummins s 95.35 -.23
DJIA Diam 132.92 -1.32
DR Horton 21.15 -.37
DTE 49.98 -.78
DaimlrC 87.84 -.78
Danaher 71.93 -.39
Danone s 14.85 -.03
Darden 45.39 +.04
Dassault 57.16 -.94
Deere 116.65 +.10
Delhaize 98.37 +.05
Dell Inc If 26.92 -.68
DeutschBk 142.66 -3.15
DeutTel 18.02 -.24
DevDv 56.09 -1.49
DevonE 78.20 -.52
Diageo 84.03 +.34
DiaOffs 92.54 -1.12
DirecTV 22.64 +.01
DiscHoldA 23.95 +.41
Disney 33.56 -.62
DollarG 21.74
DomRes 82.01 -1.50
DonlleyRR 42.50 -.17
Dover 50.64 -.30
DowChm 44.57 -.81
DuPont 50.11 -.62
DukeEgy s 18.25 -.33
ETrade 24.41 -.28
E.ON AG 50.53 -1.29
eBay 30.96 -.53
EMC Cp 16.30 -.33
ENI 69.85 -.40
EOG Res 75.81 +.15


Name Last Chg
AbitibiCons 2.91 +.02
AuraGoldo 1.53 +.03
Dynatec 4.65 -.19
KinrossGold 13.35 -.33
SthAmerGldo .05 -.01
EldoradoGId 5.94 -.05
SaskWheatPI 9.60 +.34
NorOriono 5.60 -.05


13295.01 -129.95 -0.97%
4994.82 -97.88 -1.92%
488.16 -6.82 -1.38%
9724.49 -117.24 -1.19%
2549.77 -22.38 -0.87%
1493.00 -16.12 -1.07%
889.72 -10.03 -1.11%
821.72 -11.46 -1.38%
15085.67 -160.35 -1.05%


WidelyHeldStock
Name Last Chg
EKodak 26.18 -.32
Eaton 91.10 +1.87
EchoStar 45.23 -.17
Ecolab 42.75 +.66
Edisonint 54.11 -.64
Edwards 86.20 -.78
ElPasoCp 16.50 -.34
Elan 19.61 -.05
ElectArts 47.83 -1.04
EDS 27.99 -.25
Embarq 61.56 -.78
EmersnEl s 47.13 -.77
EEIChile 46.42 -.44
Enbridge 33.67 -.38
EnCana 62.34 -.56
Endesa 53.06 -.43
Enel 54.85 -.32
EngyTEq' 40.64 -.12
EngyTsfr 60.16 -.09
Enersis 18.66 -.11
ENSCO 59.26 -1.20
Entergy 108.05 -.95
EntPrPt 30.36 -.43
EqtRes 50.99 -.63
EqtyRsd 46.83 -.25
EricsnTI 36.36 -1.06
EsteeLdr 46.14 -.32
EverestRe 103.71 -1.31
Exelon 70.65 -1.51
Expedia 24.20 +.17
ExpdIntl s 41.87 -.54
ExpScripts 97.31 -.12
ExxonMbl 82.00 -1.06
FPL Grp 59.00 -1.38
FannieM If 67.43 +.71
Fastenal 41.26 +.03
FedExCp 107.05 -1.58
Fiat 26.73 -.59
FidNInfo 52.92 +.43
FifthThird 42.29 -.33
FirstData s 32.50 -.15
FTSpcFn n 20.39 +.14
FirstEngy 64.15 -1.02
Fiserv 56.49 -.02
Flextrn 11.05 -.06
Fluor 102.65 -1.35
FEMSAs 38,73. -.37
FordM 8.32 -.08
ForestLab 47.03 -.16
FortuneBr 78.72 -.67
FosterWh 101.14 -1.92
FranceTel 28.10 -.40
FrankRes 127.93 -.98
FredMac 65.03 -.55
FMCG 78.97 +1.53
FresenM 47.32 +.25
Fujifilm 44.07 +.49
Gannett 57.28 -.17
Gap 18.75 -.02
Garmin s 65.67 -.41
Genentch 76.24 -.65
GenDynam 79.24 -1.07
GenElec 37.05 -.41
GnGrthPrp 54.90 -.43
GenMills 59.14 -.39
GnMotr 31.43 -.34
GenuPrt 49.38 -.46
Genworth 35.27 -.69
Genzyme 65.67 +.41
Gerdau 22.73 -.57
GileadSci 78.92 -.30
GlaxoSKIn 52.04 -.38
GlobalSFe 67.12 -1.47
GoldFLtd 15.81 -.33
Goldcrp g 23.82 -.34
GoldmanS 227.85 +.69
Goodrich 56.02 -.62
Goodyear 34.12 -.51
Google 504.77 -6.57
Graingr 87.04 +.30
GrantPrde 53.78 -2.29
GpoSimec 12.88 -.12
GpTelevisa 26.76 -.28
HDFC Bk 81.21 -1.78
HSBC 91.84 -.79
Hallibtn s 34.68 -.58
Hanson 106.20 -.04
HarleyD 58.95 -.70
Harman 117.55 -.46
HarrahE 85.04 -.26
HarrisCorp 51.45 -.46
HartfdFn 99.51 -.95
HealthNet 55.25 -.87
Heinz 46.05 -.45
HellnTel 15.04
Hershey 50.61 -.69
Hertz n 22.45 -.13
Hess 57.97 -.94
HewlettP 45.06 -.83
Hilton 34.32 -.52
Hitachi 71.92 -1.69
HomeDp 37.36 -.35
Honda 34.31 -.64
HonwllIntI 56.64 -.38
HostHotis 23.67 -.33
HuanPwr 41.15 -.74
HudsCity 12.83 -.07
Humana 62.56 -.72
HutchTel 32.20 +.10
IAC Inter 32.96 -.97
ICICI Bk 47.35 +.45
IMS HIth 31.69 -.07
ING 42.54 -.83
iShJapan 14.45 -.19
iShDJDv 72.30 -1.03
iShSP500 149.82 -1.70
iShEmMkt 125.04 -2.14
iSh EAFE 78.53 -1.42
iSRIKV nya 86.98 -.00
iShR2K nya 81.51 -1.36
ITT Corp 66.00 -.13
ITW 52.85 +.31


10 DAYS


Nasdaq composite
Close: 2,549.77
Change: -22.38 (-0.9%)

F M A M J


G. WK MO QTR YTD


V V
V V
V V
V V
V A
V V
V A
V A
V V


Name Last Chg
ICI 41.06 +.17
ImpOil gs 46.15 -.51
ImpTob 86.04 +.40
IndoTel 42.90 +.20
Infineon 15.16 -.15
Infosys s 50.74 -.92
IngerRd 50.20 -.99
Intel 22.20 +.27
IntcntlEx 148.98 -.21
IntCtlHtl 25.93 -.44
IBM 102.34 -.88
IntlGame 38.66 -.52
IntPap 37.09 -.83
IntlPower 86.18 -.89
Intuit s 29.42 -.42
Invesco 23.16 -.26
Ipsco g 157.78 +.73
JPMorgCh 49.35 -1.08
JacobsE s 55.42 -1.11
JohnJn 61.83 -.44
JohnsnCtl 108.88 -1.37
JoyGIbl 57.02 -.31
JnprNtwk 24.86 -.07
KLA Tnc 53.86 +.03
KPN 16.26 -.36
KT Corp 24.16 +.61
Kellogg 51.65 -.80
Keycorp 35.16 -.40
KeySpan 41.82 -.03
KimbClk 69.44 -.52
Kimco 41.56 -1.29
KindME 52.76 -.87
Kinross g 12.56 -.31
Kohls 70.65 -1.40
Kookmin 91.71 -.60
KoreaEIc 21.69 -.26
Kraft 34.51 -.01
Kroger 29.40 -.50
Kubota 41.77 -.70
Kyocera 100.01 -1.45
L-3 Corn 94.52 -.46
LG Philips 22.70 +.06
LSI Corp 8.15 -.15
LabCp 77.88 -.89
LafargeSA 41.14 -1.27
LamRsch 51.98 +.45
LVSands 78.38 -2.06
LeggMason 97.95 -1.23
LehmanBr 76.06 +.38
LeucNatl s 35.50 -.43
Level3 5.55 -.10
LibGIobA 38.12 +.39
LibGIobB 37.52
LibGIobC 36.10 +.51
LibtyMlntA 24.15 +.05
LibtMCapA 115.79 +.77
LillyEli 56.78 -.53
Limited 25.82 -.64
LincNat 71.24 -1.07
LinearTch 35.16 -.43
LloydTSB 44.93 -.71
LockhdM 95.25 -1.00
Loews 51.00 -.61
Lowes s 31.36 -.44
Luxottica 34.53 +.13
Lyondell 37.35 +.37
M&T Bk 107.22 -2.29
MBIA 64.32 -.29
MEMC 56.61 -.68
MGMMir 81.81 -.65
Macys 38.90 -.21
Magnal g 89.08 -.96
Makita 43.57 +1.17
Manpwl 92.44 +.17
Manulif gs 36.25 -.11
Marathon 122.97 -1.95
Marathn wi 61.80 -.50
MarlntA 45.13 -.28
MarshM 30.85 -.64
Marshals 47.91 -.39
MartMM 157.18 -1.55
MarvellT slf 16.71 +.34
Masco 28.33 -.45
MasterCrd 145.31 +3.71
Matsush 20.77 -.13
Mattel 25.72 -.61
Maxim If 30.95 -.40
McDermInt 77.54 +.32
McDnlds 51.48 +.23
McGrwH 68.10 -1.92
McKesson 61.15 -.37
MeadWvco 34.21 -.60
Medlmun 57.91 +.01
MedcoHIth 78.46 -.44
Medtrnic 51.71 +.02
MellonFnc 42.21 -.43
Merck 50.22 -.83
MerrillLyn 87.30 -1.60
MetLife 65.52 -.73
Metso 56.33 -.76
Microchp 40.55 -.95
MicronT 11.96 -. 3
Microsoft 29.85 -.17
Milleas 43.05 -1.63
Millicomlnt 85.30 -.93
Mirant 45.25 +.13
MitsuUFJ 11.57 -.01
Mitsui 397.83 -5.50
MizuhoF n 14.54 -.21
MobileTel 56.13 +.23
Mohawk 98.91 -.46
MolsCoorsB 89.60 +1.99
Monsanto s 60.13 -.74
Moodys 66.80 -1.65
MorgStan 86.70 -1.84
Mosaic If 35.57 -.03
Motorola 17.77 -.04
MurphO 58.39 -.60
NCR Cp 52.16 -.71
NEC 4.95 -.09
Nil Hldg 77.87 -.93
NRG Egy s 43.41 +.59


TorontoStockExchange
Name Last Chg Name Last Chg
TeckComBSV 45.99 -.62 CdnNatRail 55.82 -.43
Sandvineo 4.98 +.12 LionoreMng 27.11 -.06
Crystallexo 4.15 -.12 PaladinOrdo 7.72 -.15
CanWestUn 8.98 ... EnCanaCorp 66.45 -.33
BCEInc 39.57 -.26 Opawicao .11 -.01
FirstNickelo 1.21 -.10 Bk NS 51.92 +.16
Goldcorpinc 25.35 -.23 UraMinlnc J 7.95 +.20
TalismanEgy 21.14 -.14 FNXMining 32.77 -1.54


A +6.67%
A +9.53%
A +6.87%
A +6.41%
A +5.57%
A +5.27%
A +10.61%
A +4.32%
A +5.81%


Name Last Chg
NTTDoCo 15.96 -.19
NYMEX n 129.90 +4.97
NYSE Eur 80.77 -1.00
Nabors 33.70 -.90
NtAust 168.83 -2.53
NBkGreece 11.10 -.27
NatlCity 33.69 -.45
NatGrid 71.93 +.27
NOilVarco 97.28 -.32
NatSemi 28.97 -.28
NetwkAp 30.58 -.65
NewellRub 29.31 -.49
NewfldExp 49.42 -.08
NewmtM 39.08 -.58
NewsCpA 21.75 -.48
NewsCpB 23.53 -.45
Nexen g s 29.68 -.66
Nidec 14.39 -.18
NikeB wi 53.19 -.21
NippnTT 22.53 -.19
Nissan 21.52 -.30
NobleCorp 90.37 -1.82
NobleEn 62.01 -.30
NokiaCp 27.50 -.81
Nomura 19.67 -.40
Nordstrm 51.41 -1.11
NorflkSo 53.41 -1.09
Norsk 34.91 -1.15
Nortel Ifrs 25.41 -.26
NorTlrst 63.20 -.99
NorthropG 75.55 -.38
Novartis 54.34 -.63
NovoNdk 101.60 -1.35
Nucor 60.28 -2.38
Nvidia 36.30 -.38
OcciPet s 56.59 -.41
OffcDpt 34.09 -.67
Omnicom 103.52 -.85
Oracle 18.84 -.37
Orix 130.47 -2.52
PG&E Cp 45.28 -.35
PNC 72.49 -.47
POSCO 119.87 -1.38
PPG 72.95 -1.26
PPL Corp 43.21 -1.10
Paccar s 86.29 -1.19
ParkHan 97.63 -.27
Paychex 39.55 -.33
PeabdyE 49.94 -.76
Pearson 16.76 -.24
PennWst gn 34.25 -.69
Penney 76.65 -.65
PepsiBott 33.53 -.40
PepsiCo 66.03 -.01
PetroC g 50.15 -.68
PetChina 133.40 -1.50
PetrbrsA 98.51 -.49
Petrobrs 111.62 -.26
Pfizer 26.11 -.26
PhilLD 56.76 +.21
PhilipsEl 40.43 -.92
PioNtrl 50.93 -.21
PitnyBw 46.17 -.68
PlainsAA 60.87 -.19
PlumCrk 40.34 -.09
Polo RL 94.00 -1.63
PortglTel 13.57 +.04
Potash s 73.36 -.06
PwShsQQQ 46.54 -.28
Praxair 68.76 -.62
PrecCastpt 115.53 -1.71
PriceTR s 49.93 -.97
PrinFncl 58.66 -.54
ProctGam 62.16 -.89
ProgrssEn 46.19 -1.27
ProgsvCp 23.31 -.25
ProLogis 59.58 -1.67
Prudentl 98.36 -1.13
Prud UK 28.73 -.34
PSEG 84.32 -.66
PubStrg 81.32 -1.19
Publicis 44.25 -.25
PulteH 24.65 -.74
Qualcom 41.81 +.42
QstDiag 51.24 +.05
Questar 104.95 -1.83
QwestCm 9.39 +.03
Raytheon 55.82 -.05
ReedElsNV 37.74 -.87
ReedEls plc 51.06 -.94
RegionsFn 33.98 -.56
ReliantEn 25.01 -.42
Repsol 35.28 -.72
RschMotn 167.14 -.74
ReutrGrp 73.67 -.58
ReynAm s 62.58 -.17
Rinker 79.03 -.15
RioTinto 280.60 -2.12
RockwlAut 66.50 -.24
RockColl 68.98 -.13
RogCm gs 41.05 -.35
RoHaas 52.00 -.76
Rostele 53.22 -.88
RoyalBk g 52.89 -.71
RylCarb 42.70 -.36
RoyDShllB 76.73 -1.51
RoyDShllA 74.90 -1.22
Ryanair s 38.18 -.56
SAP AG 48.12 -.92
SK TIcm 26.11 -.51
SLGreen 132.56 -2.17
SLM Cp 56.61 +.46
STMicro 18.63 -.36
Safeco 61.88 -.69
Safeway 33.84 -.64
StJude 41.51 -.73
SanDisk 44.05 -.80
Sanofi 44.38 -.76
Santos 44.58 -.42
SaraLee 17.67 -.01
Sasol 34.53 -.31
Satyam s 24.92 -.67


Name Last Chg
BombdrBSV 6.17 -.19
YamanaGldo 13.19 -.59
Royal Bnk 56.35 -.41
StratosGlobal 6.84 -.08
LundinMng 12.47 -.27
AmerigoReso 2.52
HudBayMnrls 24.10 -.34
RioNarceaGld 5.25 -.06


1,550 1,550


1,500 1,51 0
1,47 0


Name Last Chg
BkMontreal 68.53 -.92
EqnoxMnrlso 3.16 -.10
SXRUraniumJ 14.53 -.18
PeruCoppero 6.45 -.01
StarfidReso 1.22 -.01
EasternPlat 2.36 +.03
TiominReso .17 -.01
ManulifeFin 38.70 +.15


Interestrates






ElI










PRIME FED
RATE FUNDS
YEST 8.25 5.25
PREV 8.25 5.26
WKAGO 8.25 5.21


NET IYR
TREASURIES YEST PVS CHG WK MO QTR AGO
3-month T-bill 4.60 4.59 +0.01 V V V 4.80
6-month T-bill 4.79 4.81 -0.02 V A V 4.93
1-year T-note 5.04 5.00 +0.04 V A A 5.10
2-year T-note 5.05 4.98 +0.07 A A A 5.02
5-yearT-note 5.15 5.05 +0.10 A A A 4.95
10-year T-note 5.25 5.13 +0.12 A A A 4.98
30-year T-bond 5.35 5.24 +0.11 A A A 5.03

NET IYR
BONDS YEST PVS CHG WK MOQTR AGO
Lehman Bros Bond Idx5.39 5.28 +0.11 A A A 5.15
Bond Buyer Muni Idx 4.94 4.87 +0.07 A A A 4.79
Lehman US Inv Grade 5.75 5.74 +0.01 A A A 5.63
Lehman US High Yield 7.73 7.73 ... A V V 8.36
Moodys Bond Index 5.85 5.78 +0.07 A A A 5.76
Bank Index 114.14 115.69 -1.55 V V V 108.63
DJ CorpDBond 194.34 195.60 -1.26 V V V 186.05


1,400 -


10 DAYS


2,700 2,630
2,570
2,600 2,570
2,510


1,350


1,300


Name Last Chg
SchergPI 30.70 -.25
Schlmbrg 78.74 -1.44
Schwab 21.27 -.49
SeagateT 20.83 -.03
SearsHIdgs 174.31 -1.97
SempraEn 58.34 -.95
ShawC g 42.18 -.59
Sherwin 64.82 -1.02
Shinhan 120.72 -3.31
Shire 69.34 -.47
SiderNac 50.09 -1.73
Siemens 129.66 +.46
SimonProp 96.81 -2.60
Smith&N 59.23 -.55
SmithIntl 56.00 -1.21
Sodexho 70.46 -.39
SonyCp 53.60 -1.29
SouthnCo 34.14 -.56
SthnCopps 91.83 +1.05
SwstAirl 14.47 -.06
SwstnEngy 46.71 -.21
SovrgnBcp 22.07 -.40
SpectraE n 25.70 -.16
SprintNex 21.60 -.40
SPDR 149.65 -1.65
SP Mid 161.87 -1.99
Staples 24.31 -.09
Starbucks 27.74 +.20
StarwdHtl 69.26 -.92
StateStr 66.76 -1.40
Statoil 27.13 -.63
StoraEnso 18.16 -.36
Stryker 64.13 -1.26
Suez 52.18 -1.18
SunLfFn g 45.76 -.43
SunMicro 4.92 -.04
Suncor g 86.10 -2.06
Sunoco 79.66 -1.00
SunTrst 87.63 -1.32
Supvalu 45.74 -.51
Swisscom 33.50 -.25
Symantec 19.62 +.01
Syngenta 35.75 -.63
Synovus 31.60 -.44
Sysco 31.83 -.76
TD Ameritr 20.29 -.86
TDK 93.68 -1.99
TJX 27.73 -.25
TNT NV 42.56 -.49
TXU Corp 67.15 -.39
TaiwSemi 10.27 -.19
TalismE gs 19.84 -.26
Target 62.46 -.48
TataMotors 16.00 -.27
Technip 74.34 -1.64
TeckCm gs 43.14 -1.05
TelcNZ 27.78 +.17
Telltalia 27.01 -.21
TelltaliaA 21.42 -.21
TelBrasH 37.57 -.69
TelSPaulo 30.82 +.62
TelefEsp 64.24 -1.31
TelMexL 39.03 -1.11
TelData If 63.27 -1.48
Telkom 96.00 -4.91
Telus g 57.80 -1.18
Templeln 59.70 -.57
Tenaris 46.21 -1.05
Terex s 82.02 -.95
Tesoro wi 57.64 -1.06
TevaPhrm 39.78 +.10
Texlnst 35.04 -.75
Textron 105.23 -.82
ThermoFis 51.44 -.86
Thomson 41.24 -.94
3M Co 85.04 -.26
Tiffany 48.61 -1.30
TW Cable n 37.62 -.63
TimeWarn 20.33 -.28
:Trchmrk 68.05 -.51
TorDBk g 67.79 -1.50
Total SA 73.34 -.93
Toyota 122.34 -1.65
TrCda g 34.53 -.29
Transocn 98.11 -.48
Travelers 53.68 -.90
Tribune 30.80 -.50
Turkcell 15.12 -.24
Tycolntl 33.40 -.51
Tyson 21.66 -.11
UBS AG s 60.58 -1.22
UPM Ky 24.62 -.51
UST Inc 53.44 -.91
UltraPt g 57.87 -.82
UUniao 105.78 -2.73
UnilevNV 29.08 +.02
Unilever 30.30 +.17
UnionPac 113.31 -2.36
UnBnCal 60.73 -.67
UtdMicro 3.32 -.14
UPS B 71.25 -1.23
US Bancrp 33.85 -.45
US Cellu If 88.75 -.76
USSteel 112.61 -3.59
UtdTech 69.67 -.51
UtdUtils 29.73 -.25
UtdhlthGp 52.99 -.20
UnumGrp 25.73 -.30
VFCp 91.04 -1.27
ValeroE 72.92 -.90
VeoliaEnv 77.41 -1.39
Verisign 29.03 -.27
VerizonCm 43.08 -.43
ViacomB 42.09 -1.31
VimpelCm 98.12 -1.58
VirgnMda h 24.15 -.40
Vodafone 31.18 -.11
Volvo s 19.65 -.57
Vornado 111.83 -2.42
VulcanM 115.08 -1.77
WPP Gp 72.19 -.85
Wachovia 52.95 -.65
WalMart 48.91 -.90
Walgrn 43.49 -.76
WA MutI 42.23 -.46
WsteMInc 38.39 -.75
Waters 60.53 -.71
Weathfdint 52.50 -1.60
WellPoint 80.93 -.38
WellsFgo s 35.18 -.30
WstnUn n 22.42 -.33
Westpac 107.13 -1.87
Weyerh 80.27 -.40
Whrlpl 111.32 -.40
WhtMtlns 604.49 +15.99
WmsCos 29.71 -.74
WillisGp 44.64 -.36
Windstrm 14.68 -.16
Wipro 15.71 -.27
Wolseley s 24.74 -,43
WooriFn 70.79 -1.05
Wrigley 56.37 -.51
Wyeth 56.23 -.76
Wyndhamn 36.17 -.30
Wynn 94.05 -.28
XL Cap 81.37 -.52
XTO Engy 60.32 -.38
XcelEngy 21.06 -.45
Xerox 18.84 -.46
Xilinx 27.06 -.27
YPF Soc 42.05 -.15
Yahoo 27.05 -.30
YumBrds 66.84 -.91
Zimmer 84.37 -.63
ZionBcp 79.41 -1.17


Excelsior
ValRestrA
Fidelity
AstMgr50O
Bal
BIChGrow
CapApr
Capinc
Contra
DiscEq
DivGrow
Divrlntl
Eqlnc
Eqlnc II
FF2040
Fidelity
Free2010
Free2020
Free2030
Govtlnc
GrowCo
Growlnc
IntBond
IntlDisc
lnvGrdBd
LevCoSt
LowPriStk
Magellan
MidCap
OTC
Overseas
Puritan
Reallnv
ShTmBond
USBdIndx
Value


58.90 -.66+30.9

16.71 -.12+13.6
20.73 -.19+18.9
46.62 -.41 +17.8
28.94 -.30 +20.2
9.14 -.04+15.5
69.13 -.69+21.0
31.79 -.34 +26.3
33.63 -.32 +22.5
39.93 -.46 +29.9
61.69 -.69 +26.3
24.94 -.31 +22.2
9.84 -.10 +22.6
38.47 -.42 +24.7
14.91 -.11 +14.9
15.95 -.14+19.0
16.59 -.16 +21.7
9.83 -.04 +3.7
74.23 -.99 +22.0
32.80 -.32 +18.9
10.09 -.04 +4.3
41.07 -.42 +32.1
7.19 -.04 +4.5
34.07 -.33 +36.7
46.84 -.40+24.4
92.06 -1.22 +20.3
31.35 -.40+26.0
44.56 -.48+27.9
48.75 -.59+31.1
20.81 -.19+18.7
34.60 -.59+16.6
8.80 -.01 +4.6
10.61 -.06 +4.3
88.98 -.91 +26.1


12-MO
NAME NAV CHG%RTN
Fidelity Spartan
5001ndxAd 103.40 -1.12 +23.0
5001ndxln 103.40 -1.12 +22.9
USEqlndxl 53.00 -.57 +22.9
First Eagle
GIbA m 48.50 -.23 +21.4
OverseasA m 26.79 -.10 +21.9
FrankTemp-Franklin
CATFA m 7.19 -.02 +3.7
FedTFA m 11.85 -.04 +3.3
Income A m 2.73 -.02 +18.9
Income C m 2.75 -.02+18.7
IncomeAdv 2.72 -.02+19.7
FrankTemp-Mutual
Discov A m 33.30 -.21+30.8
Shares A m 27.96 -.21 +24.6
Shares Z 28.20 -.21 +25.1
FrankTemp-Templeton
Fgn A m 14.63 -.07 +25.9
ForEqIs 29.11 -.14+37.7
Growth A m 27.02 -.21+24.8
Growth Ad 27.08 -.20+25.1
World A m 20.59 -.13 +25.3
Franklin Templeton
FndAIIA m 14.58 -.10 +22.5
Harbor
CapAplnst 34.60 -.29+17.2
Intllnsti 67.78 -.99+39.9
Hartford
AdvHLSIA 23.93 -.21+18.9
CapAprA m 40.55 -.44+24.2
CpApHLSIA 57.98 -.66+27.4
DvGrHLSIA 24.41 -.28 +26.4
JPMorgan
IntrAmerS 29.72 -.32+23.7
Janus
Contrarian 19.51 -.09+43.5
Growlnc 41.17 -.44+19.4
Janus 30.63 -.34 +24.6
MidCapVal 26.06 -.22+25.4
Overseas 51.38 -.67+53.3
Twenty 59.97 -.57 +28.4
John Hancock
CIsscValA m 29.37 -.28 +23.0
LifBal b 14.92 -.12 +17.7
LifGrl b 15.55 -.15 +20.7
Julius Baer
IntlEqA b 46.10 -.50 +36.7
IntlEql 47.12 -.51+37.0
Legg Mason
Valuelnst 84.83 -1.07 +20.5
ValuePr b 75.95 -.96 +19.3
Longleaf Partners
LongPart 37.89 -.44+26.8
Loomis Sayles
Bondl 14.46 -.11+10.1
Lord Abbett
AffiliatA m 15.83 -.18 +19.3
MidCpVaA m 24.28 -.19 +27.9
MFS
TotRetA m 16.77 -.14 +16.7
ValueA m 28.60 -.26 +25.7
Morgan Stanley Instl
IntlEqA 22.04 -.25+26.8
Oakmark
Eqlncl 27.79 -.14 +17.4
Intll 27.32 -.17 +27.9
Oakmark I 48.43 -.56+23.0
Select I 35.33 -.43 +19.5
Oppenheimer
DevMktA m 46.16 -39 +50.4
GlobA m 77.93 -.89+25.9
MainStrA m 43.25 -.44+23.1
RocMuniA m 18.35 -.08 +5.0
StrincA m 4.35 -.02 +11.7
PIMCO
AllAssetl 12.76 -.09 +8.4
ComRIRStl 14.12 -.20 +1.1
LowDrls 9.76 -.02 +3.7
TotRetA m 10.07 -.06 +2.9
TotRetAdm b 10.07 -.06 +3.1
TotRetIs 10.07 -.06 +3.4
Pioneer
GlobHiYA m 12.72 -.04 +13.8
PioneerA m 51.17 -.58+22.4
Putnam
GrowlncA m 21.19 -.22 +23.2
RiverSource


12-MO
NAME NAV CHG%RTN
DivrEqlnA m 14.09 -.14 +26.7
Schwab
YIdPlsSel 9.67 -.01 +5.6
Selected
AmerShS b 49.05 -.54 +22.6
T Rowe Price
BIChpGr 38.47 -.41 +23.4
CapApprec 21.90 -.19+202
Eqlndex 40.15 -.44+22.6
Eqtylnc 31.14 -.36 +24.5
GrowStk 33.97 -.31 +26.0
IntlStk 17.83 -.18+30.5
MidCapVa 27.78 -.26+28.0
MidCpGr 60.99 -.48+24.6
NewHoriz 34.79 -.38+17.5
SmCpStk 36.24 -.44+17.4
SmCpVal 44.04 -.47 +19.2
Value 29.32 -.31+26.3-
Third Avenue
Value 63.92 -.66+22.1
Tweedy Browne
GlobVal 34.01 -.14+29.4
Van Kampen
ComstockA m20.11 -.21 +20.7
EqlncomeA m 9.46 -.08 +17.3
GrowlncA m 23.37 -.26 +23.3

500 137.94 -1.49 +22.9
500Adml 137.96 -1.49 +23.0
AssetA 30.45 -.27 +22.4
EmerMktld m 27.24 -.25+48.8
Energy 72.74 -.95 +29.8
Europeldx 39.17 -.51+35.7
Explr 81.36 -.97+21.2
Extndldx 41.97 -.47 +23.7
GNMA 9.93 -.06 +4.0
GNMAAdml 9.93 -.06 +4.1
GIbEq 25.33 -.32 +33.4
Growthldx 31.71 -.30 +21.3
HItCrAdml 64.22 -.46 +18.7
HlthCare 152.13 -1.07 +18.6
Instldx 136.92 -1.48+23.0
InstPlus 136.93 -1.48 +23.0
InstTBdId 49.06 -.27 +4.3
InstTStPI 32.63 -.36 +23.4
IntlGr 25.80 -.36+33.1
IntlVal 43.79 -.64+32.6
LifeCon 17.06 -.12 +13.9
LifeGro 25.29 -.26 +22.5
LifeMod 21.28 -.19+18.0
MidCp 21.76 -.24+25.1
MidCplst 21.84 -.23+25.3
Morg 20.34 -.20+22.6
MulntAdml 13.03 -.04 +2.9
Pacifidd 13.14 -.21+21.3
Prmcp 73.66 -.67+21.6
PrmcpAdml 76.49 -.70 +21.8
REITIdx 24.48 -.43+18.4
STCor 10.47 -.03 +5.0
STGradeAd 10.47 -.03 +5.1
SmCapldx 35.11 -.44+22.6
Star 21.83 -.21+16.6
StratgcEq 25.96 -.29 +24.5
Tgtet2025 13.75 -.14+20.7
TotBdAdml 9.73 -.06 +4.4
TotBdld 9.73 -.06 +4.3
TotBdlnst 9.73 -.06 +4.4
Totlntl 19.17 -.25 +33.5
TotStlAdm 36.19 -.39 +23.3
TotStllns 36.20 -.39+23.3
TotStldx 36.18 -.39+23.2
Wellsl 21.97 -.20+11.5
Welltn 33.62 -.32+18.1
WelltnAdm 58.07 -.57+18.2
WndsllAdm 66.91 -.61 +25.8
Wndsr 19.74 -.23 +24.9
WndsrAdml 66.66 -.74+25.1
Wndsrll 37.68 -.34+25.6
Western Asset
CrPIBdins 10.14 -.08 +5.4


-1 -














I >








.4







'I.
'I

.4







,'
9

9


Commodities COMMODITY CLOSE PVS. %CH. %YTD
Unleaded Gas (gal) 2.14 2.15 -0.47 +33.6
Crude Oil (bbl) 65.35 65.97 -0.94 +7.0
Gold (oz) 648.50 654.30 -0.89 +2.1
Platinum (oz) 1296.40 1298.00 -0.12 +13.8
Silver (oz) 13.06 13.24 -1.36 +2.0
Coffee (Ib) 1.13 1.15 -1.74 -10.5
Orange Juice (Ib) 1.42 1.47 -3.40 -29.4
Sugar (Ib) 0.09 0.09 ... -23.4




Foreign 6M0. lYR.
Exchange COUNTRY CLOSE CHG. %CHG. AGO AGO
f _4 Argent (Peso) .3252 -.0000 -.00 .3270 +.0006
Brazil (Real) .5140 -.0014 -.27 .4656 +.0730
Britain (Pound) 1.9762 +.0069 +.35 1.9700 +.1316
Canada (Dollar) .9392 -.0034 -.36 .8678 +.0274
V W Chile (Peso) .001892 -.000003 -.16 .001899 +.000073
Colombia (Peso) .000517 -.000006 -1.16 .000439 +.000124
Dominican Rep (Peso) .0313 +.0001 +.32 .0305 +.0007
Euro (Euro) 1.3317 -.0042 -.32 1.3277 +.0714
Japan (Yen) .008213 +.000001 +.01 .008554 -.000544
Mexico (Peso) .091462 -.000327 -.36 .092208 +.003670
Uruguay (New Peso) .0420 +.0001 +.24 .0410 -.0001



GlobalMarkets

INDEX YEST CHG %CHG WK MO QTR YTD
S&P 500 1493.00 -16.12 -1.07% V V A +5.27%
Frankfurt DAX 7678.26 -27.84 -0.36% V A A +16.39%
London FTSE 100 6520.40 -47.10 -0.72% V V A +4.82%
Hong Kong Hang Seng 20636.39 +20.90 +0.10% V V A +3.36%
Paris CAC-40 5898.16 -41.93 -0.71% V V A +6.43%
Tokyo Nikkei 225 17760.91 -73.57 -0.41% V A A +3.11%

SOUTH AMERICA / CANADA
Buenos Aires Merval 2147.11 -14.99 -0.69% V A A +2.71%
Mexico City Bolsa 31608.59 -224.85 -0.71% V A A +19.51%
Sao Paolo Bovespa 51797.14 -979.70 -1.86% V A A +16.47%
Toronto S&P/TSX 13724.33 -108.49 -0.78% V V A +6.32%

ASIA
Seoul Composite 1729.88 +13.32 +0.78% V A A +20.59%
Singapore Straits Times 3561.54 +16.08 +0.45% V A A +19.28%
Sydney All Ordinaries 6267.70 +9.30 +0.15% V V A +11.04%
Taipei Taiex 8370.26 +31,38 +0.38% A .A A +6.99%
Shanghai Shanghai B 294.59 +6.68 +2.32% A V A +126.42%


Largest Mutual Funds


NAME


12-MO
NAV CHG%RTN


AIM
ConstellA m 28.41 -.28+21.0
American Cent
Ultralnv 28.67 -.27 +11.7
American Funds
AmcapA m 21.41 -.15 +19.4
BalA m 19.63 -.15 +16.6
BondA m 13.11 -.06 +5.4
CaplncBuA m 63.87 -.55 +24.0
CpWIdGrIA m 45.20 -.48+30.4
EurPacGrA m 50.35 -.54 +31.3
FundminvA m43.49 -.45+25.8
GrowAmerA m35.37 -.31 +21.5
GrowAmerB m34.15 -.31 +20.6
HilncA m 12.68 -.05 +12.0
IncAmerA m 21.08 -.19 +20.9
InvCoAmA m 35.34 -.33 +21.0
MutualA m 31.21 -.31 +22.9
NewEconA m 28.47 -.28 +27.4
NewPerspA m34.12 -.35 +27.8
NwWrIdA m 53.74 -.47+44.5
SmCpWIdA m44.34 -.37+35.5
WAMutinvA m37.05 -.39 +23.2
Artisan
Intl 30.74 -.34+30.2
Baron
Growth b 52.58 -.61 +18.2
Bernstein
TxMIntI 28.09 -.42 +30.4
BlackRock
GlobAlcA m 19.26 -.13 +19.6
GlobAlcC m 18.15 -.13 +18.7
Calamos
GrowA m 58.64 -.64 +19.9
Columbia
AcornZ 32.29 -.35 +24.5
DFA
EmgMktVal 38.73 -.40+67.6
IntlSmCap 23.25 -.24 +37.3
IntlValu 25.16 -.39+39.5
USLgVal 27.18 -.31 +25.0
USSmVal 31.23 -.42 +22.1
DWS-Scudder
DremHRtEA m53.34 -.43 +23.0
Davis
NYVentA m 41.18 -.45 +23.1
NYVentC m 39.60 -.43 +22.2
NYVentY 41.69 -.45 +23.4
Dodge & Cox
Bal 90.03 -.86 +16.7
Income 12.47 -.05 +5.2
IntlStk 47.93 -.44+33.7
Stock 161.81 -1.98+22.9








THE TIBUNEWEDNSDAYJUNE 3, 207,IPGES5


BORCO put up





for sale by PDVSA


* By NEIL HARTNELL
Tribune Business Editor
The Bahamas Oil
Refining Company
International
(BORCO), the
Grand Bahama-based oil bulk
storage terminal that is the
region's largest, has been put
up for sale by its owner, the
Venezuelan state-owned oil
company PDVSA, The Tri-
bune can reveal.
Sources familiar with the sit-
uation yesterday confirmed the
potential sale, adding that "just
about every big oil company
is going to take a look" at
BORCO, which has a 20 mil-
lion barrel storage capacity.
The investment banking arm
of Citigroup, the world's
largest financial institution, has
been hired by PDVSA to han-
dle the BORCO sales process,
which is understood to be tak-
ing the form of an open, trans-
parent 'beauty contest'.
The Tribune was told that
all interested buyers had to
submit non-binding bids by the
end of June. These offers will
then be vetted by Citigroup,
which will help PDVSA in
drawing up a short-list of a
final four to five bidders.
These parties will then have
access to more detailed finan-
cial date on BORCO via a spe-
cially designed data room, and
be able to conduct a more
thorough due diligence
through site visits.
Decision
It is thought that PDVSA
will make a final decision on
the BORCO purchaser by the
end of August 2007.
Several sources yesterday
expressed surprise to The Tri-


bune that PDVSA, which is
owned by the populist left-
wing government of Venezue-
lan president Hugo Chavez,
would decide to sell what could
be an important strategic asset
in the midst of the continued
financial benefits generated by
high global oil prices.
"That's a mystery," one con-
tact said. "PDVSA is doing
well. They don't need the mon-
ey."
Interest
Interest in BORCO was
likely to be high, they said, due
to its unique geographical loca-
tion proximity to the US and
potential as an oil tranship-
ment facility on the main ship-
ping routes in the Western
Hemisphere and to Europe,
plus the opportunities for
expansion.
BORCO also used to have
oil refining capabilities, and
sources said there was poten-
tial to further expand its oil
storage capabilities, as well as
get into alternative energy
forms such as liquefied natural
gas (LNG) and ethanol pro-
duction.
"It has many things going for
it," a source said.
Yet some suggested that
PDVSA's decision to sell and
seek a buyer may have been
prompted by the fact that the
company felt it would not
make economic sense to con-
struct a new refinery at BOR-
CO or upgrade the existing
facility, feeling it would tie-up
too much capital and not gen-
erate the needed return on
investment.
"You can't use the existing
refinery. It's too old and it's
antiquated," one source said.
"You're talking about putting


in a lot of money to build in a
limited space, and now you've
got environmental matters
with Ginn down the road."
BORCO is understood to
employ about 105 full-time
Grand Bahama-based staff,
plus another 50 contractors. It
generates about $10 million
per year in net income, and
pays a $1 million per annum
fee to the Government to lease
the seabed.
Leslie Miller, the former
minister of trade and industry
in the PLP government, said
discussions had been held
about re-establishing BOR-
CO's oil refinery capabilities,
with proposed refining capaci-
ty of 500,000 barrels per day.
Mr Miller said this, if suc-
cessful, would require a $2 bil-
lion investment and create 800
full-time jobs. In the 1970s,
BORCO was one of the
biggest refineries in the world,
but it closed in 1985 during a
world oil over-supply. Given
the current relatively high
global oil prices, some feel the
investment in re-opening the
refinery might be worth it.
Informed
The Tribune was informed
that Lester Mortimer, attorney
and partner at Callender's &
Co, was acting for
PDVSA/BORCO in the sale.
When contacted by this news-
paper about the potential sale,
Mr Mortimer replied: "I can't
comment."
The Tribune was also
informed that Max Sweeting,
BORCO's first vice-president,
was out of office until Friday
when it called seeking com-
ment.
It was told that Juan Jose
Ahumada, BORCO's presi-


dent, would also be unavail-
able for comment.
PDVSA made a $40 million
investment to upgrade and
repair BORCO's 73 oil stor-
age tanks in 2001, with storage
capacity increased from nine
million barrels to 20 million.
Terminal
The terminal has two jetties
and six deep sea berths, and
since 2001 PDVSA had been
focusing on getting BORCO
to maximum storage capacity
as a 'break bulk' facility, where
large oil shipments are blended
or broken down into smaller
consignments for onward
delivery.
BORCO had also been
looking for longer-term stor-
age contracts with its clients.
Some four major oil compa-
nies lease storage space from it,
including Total and, until
recently, the Brazilian firm
Petrobras.
The BORCO sale is the lat-
est industrial asset on Grand
Bahama to be put up for sale.
Mirant is in the process of sell-
ing its 55.4 per cent stake in
Grand Bahama Power Com-
pany to the Japanese con-
glomerate, Marubeni, while a
deal is also said to be in the
works for the former Uniroyal
plant.
Some suggested that one
possible bidder for BORCO
might be BISX-listed FOCOL
Holdings, although it is unclear
whether the company would
be interested or have the
wherewithal to do so, given
that it is still integrating the
former Shell Bahamas busi-
ness.
BORCO's sale is expected
to attract 'top dollar' for
PDVSA.


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

DENK INVESTMENTS COMPANY LIMITED

Notice is hereby given that in accordance with Section 138 (8)
of the International Business Companies Act, No. 45 of 2000,
the Dissolution of DENK INVESTMENTS COMPANY
LIMITED has been completed, a Certificate of Dissolution has
been issued and the Company has therefore been struck off the
Registrar. The date of completion of the dissolution was June 4, 2007.




Mario H Pola HRama
Liquidator











Small Retail Store specializing in
girls accessories is seeking a dynamic,
energetic, and highly motivated
assistant store manager with prior retail
managerial experience to handle all
aspects of store operations.
Please send resumes by e-mail to
bahamas.com@gmail.com



Phone: 394-7019


Ethanol to give



Bahamas $1/2bn



export industry


FROM page 1

corn production really took off
in the Bahamas and became
an industry, it had the potential
to challenge tourism and finan-
cial services as a major employ-
er in this nation.
It would also reduce ship-
ping costs, Mr Joudi said, as
the shipping companies would
be able to return full boats to
the US, bringing rates for
imports and inbound journeys
down.
To aid the corn ethanol
industry's development, Mr
Joudi said there were several
structures that could be used,
such as the Government guar-
anteeing farmers $4 per bushel
and purchasing the product
from them, then exporting it
itself via a produce exchange.
He also suggested a pub-
lic/private partnership model
could be looked at.
Mr Joudi said the Ministry
of Agriculture and Bahamas
Technical and Vocational Insti-
tute (BTVI) needed to assist
the development of such an







-EIGHT
r S.
.strie" be in


industry, educating Bahamian
farmers and providing them
with the right tools, such as
planning their businesses and
strategies for maximising prof-


its. Loans for agricultural
development might also be
available from the World Bank
and Inter-American Develop-
ment Bank (1DB).


Clearing Banks Association

Public Advisory




The Clearing Banks Association is reminding the public
not to give personal or confidential banking information
such as savings or checking account numbers, or details
of credit card accounts to persons requesting these details
by telephone, e-mail or online via the internet.


It is not the policy of any member of the Clearing Banks
Association to have staff ask customers to verify or
update personal and confidential bank account
information by any of these methods.


Persons who provide any confidential banking
information to anyone other than an authorized banking
officer, run the risk of compromising their banking
information and exposing themselves to fraud, for which


our members cannot accept


responsibility.


If faced with any of the above situations please contact
your bank immediately.



Bank of The Bahamas International

FirstCaribbean International Bank (Bahamas) Limited

Citibank, N.A.

Royal Bank of Canada

Commonwealth Bank Limited

Scotiabank (Bahamas) Ltd.

Fidelity Bank (Bahamas) Limited


The Public Hospitals Authority
Bahamas National Drug Agency
PUBLIC NOTICE
Tender for the Supply of Drugs
and Related Items

Tenders are invited for the Supply of Drugs and
Related Items for the Public Hospitals Authority and
the Ministry of Health, The Commonwealth of The
Bahamas.

The Supplementary Tender, which includes
instruction to the Tenderers along with other relevant
information, can be collected from the Bahamas
National Drug Agency, Market & McPherson Streets,
Monday through Friday 9am 5pm

A Tender must be submitted and duplicated in a
sealed envelope or package identified as "Tender
for the Supply of Drug and Related Items" and
addressed to:

Managing Director
Public Hospitals Authority
1st Floor, Manx Corporate Centre/Dockendalc House
West Bay Street
PO. Box N-8200
Nassau, The Bahamas

All Tenders must be received at the above address
on or before 5pm Friday, July 6th, 2007. A
copy of a valid business license and National
Insurance Certificate must accompany all
proposals.

The Public Hospitals Authority reserves the right to
reject any or all Tender(s).


I


-.I I- ---- ,I -


WEDNESDAY, JUNE 13, 2007, PAGE 5B


THE TRIBUNE







I nl I MIDUi n


NOTICE

NOTICE is hereby given that LEROY COOKE of
DEADMAN'S REEF, GRAND BAHAMA, BAHAMAS
is applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a citizen of The
Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should
send a written and signed .statement of the facts within
twenty-eight days from the 6th day of June, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box
N-7147, Freeport, Bahamas.


NOTICE

NOTICE is hereby given that MICHAEL NEVILLE of
WINTON HEIGHTS, P.O. BOX N-1770 NASSAU,
BAHAMAS is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 6th day of
June, 2007 to th6 Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.



PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, JAMES MIGUEL
JULMAST of St. Alban's Drive Heights, P.O. Box SB-
52642, Nassau, Bahamas intend to change my name to
MIGUEL JABEZ THOMPSON. 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 N-742,
Nassau, Bahamas no later than thirty (30) days after the
date of publication of this notice.



NOTICE

NOTICE is hereby given that MICHAEL BAUGHMAN of
SANDY PORT, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the. 6th day of June, 2007 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
Bahamas.




NOTICE

NOTICE is hereby given that DEION ANDREA ROACHE of
#3 WILLIS STREET, P.O. BOX N-8240, NASSAU,
BAHAMAS is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 6th day of
June, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.


FROM page 1


may be subjected to conditions
of involuntary servitude.
"Although these migrants
arrive voluntarily in the
Bahamas to work as domestic
servants, gardeners and in con-
struction, local sources indi-
cate that labour exploitation
of these workers may be wide-
spread.
"Employers coerce them to
work long hours for no pay or
below the minimum wage by
withholding documents or
threatening arrest and depor-
tation."
The US State Department
added: "While the Bahamas
has well-developed civil labour
laws that guarantee workers a
minimum wage, maximum
working hours and other legal
protections, it does not crimi-
nalise slavery or forced labour
practices. Moreover, migrant
workers usually do not have


access to labour protections
under Bahamian law."
Brian Nutt, the Bahamas
Employers Confederation's
(BECon) president, said that
while the US might be seek-
ing some specific statute to
deal with the prohibition of
forced labour in the Bahamas,
he though this was already
dealt with in the constitution
and common law.
"I'm sure that even without
any specific statute law,
between the constitution and
common law, anyone involved
in forced labour and slavery
will receive punishment," Mr
Nutt said.
The BECon president said
the exploitation of foreign
workers, making them work
long hours for inadequate pay
that was below the $150 mini-
mum wage, was not wide-
spread in the Bahamas to his
knowledge.
"It's not something I'm
aware of as being any type of
common practice over here,"
Mr Nutt said. "I personally


have not come across any of
that, and not heard of it hap-
pening.
"But just because I've not
heard of it or come across it
does not mean it does not hap-
pen. It cannot be happening to
any great extent."
Yet Mr Ferguson and Mr
Regnier disagreed. While say-
ing that the problem was not
"to the extent" indicated by
the US report, Mr Ferguson
said: "Practicing as a labour
attorney I have encountered
situations where migrant work-
ers are required to work longer
hours without adequate com-
pensation, and below the min-
imum wage."
Mr Regnier added that
employers were known to keep
the work permits of migrant
Haitian workers as a way to
control them, ensuring they did
not travel or seek employment
elsewhere.
Another forced labour issue,
Mr Regnier said, was that
Haitians were often having to
repay money they had bor-


rowed from those who had
financed their journey to the
Bahamas, providing another
avenue to control the worker.
Describing the exploitation
of Haitian workers, especially
those who had come to the
Bahamas illegally, as "wide-
spread", Mr Regnier said those
employed as manual or farm
labourers, working in the
fields, routinely earned wages
of around $30 per day right'
on the minimum wage border-
line.
Again, if they came to the
Bahamas illegally, Haitian
workers found obstacles to
presenting cases of exploita-
tion to the Minister of Labour,
Director of Labour and the'
wider department.
Mr Regnier said that given
the problems with Bahamian
labour relations generally, and
the mechanisms for resolving
disputes, undocumented
migrant workers were
"between a rock and a hard
place" when it came to resolv-
ing instances of exploitation..


Baha Mar partners staying the course


FROM page 1

Caesar's brand, two chief exec-
utives of the Starwood organi-
sation.
"So we have survived a lot of
challenges, and we will survive
them all. Starwood and Har-


rahs Aave been verygood part-
ners and we-appreciate their
support."
Mr Izmirilan said the chal-
lenge in getting the project off
the ground was not the former
government.
"We are working closely
with the Government. The
challenge has not been the
Government; the challenge has
been the complexities of the
project. Tere are so many dif-
ferent aspects of the project
and working with the partners
- the casino company, the hotel
company, working with the
Government all those things
come together and it is like
putting a puzzle together.
Putting the puzzle together can
be complicated," he added.
Mr Izmirlian said he was an
optimistic person, and was con-
fident Baha Mar and the new
FNM government would enjoy
a good working relationship.
Tourism Minister Neko
Grant told The Tribune that


he could not speak to the nego-
tiations involving Harrah's as
casino operators because he
was not aware of all the details.
However, he stressed that
the Government intended to
do everything it can to facili-
tate the Baha Mar project.
"We consider them one of
our major stakeholders in the
industry, and we are prepared
to work with anyone and
everyone. I am pleased with
the steps that they have taken
to restore the lustre and excite-
ment to the Cable Beach
Strip," Mr Grant said.
Moving forward, Don
Robinson, Baha Mar Resorts
president, said that right now
occupancy levels have been
suffering because of all of the
construction.
"So once we opened up,
obviously it will come back as
people view the property," he
said.
He added that a number of
wholesalers and travel agents


have viewed the Sheraton, and
are excited about what they
see.
He said that once the reno-
vation is completed, they
expect 2008 to be a good year
for the Cable Beach Resorts.
Mr Robinson added that a,
number of Harrah's managers
are working with the Crystal
Palace casino staff, training
them, learning Bahamian reg-
ulations and understanding
what it is like in the Bahamas,
teaching the best practices of'
casino work.
"The next step is finishing
the negoitations. A lot of the
work we are doing now is on
the design and making sure
that it is done perfectly and
done right. We have the luxu-
ry of the time to make sure
that the blue prints are correct,
so that is what we are doing
now," Mr Robinson said.
He also indicated that a deci-
son on the Nassau Beach
Hotel had not yet been made.


hiDeKrte::b _


Visit our website a w w.cb.ed. .. ..



REGISTRATION
FOR SUMMER SESSION II


will take place on

WEDNESDAY & THURSDAY,

JUNE 13-14, 2007 ONLY.


To accommodate the above mentioned

dates, please be advised that registration

for Fall Semester will be suspended on these

two days and will recommence on Monday,
June 18, 2007.


Iv,








THE TIBUNEWEDNSDAYJUNE 3, 207,IPGESS


#vr~
lit


*4



3

I
4.


Doctors Hospital





in 34.4 per cent





profit rise


I By NEIL HARTNELL
S, Tribune Business Editor
DOCTORS Hospital Health
OP Systems (DHHS) generated a
34.4 per cent net income rise
for the first quarter in its 20o08
fiscal year, as a 6.9 per cent
increase in total revenues out-
paced a 4.7 per cent expansion
in expenses.
Unveiling its results for the
three months to April 30, 2007,
the BISX-listed healthcare ser-
vices provider revealed that
net income rose to $1.314 mil-
lion, compared to $978,000 for
the 2006 comparative period.
The net income performance
was driven by a combination
of increased revenues, coupled
with reduced interest expenses
and losses associated with the
Western Medical Plaza facility,
which outpaced growth in total
expenses.
Driven by a 6.7 per cent
increase in net patient services
revenues, which rose to
$10.249 million from $9.604
million the year before, total
revenues for the fiscal 2008
first quarter grew to $10.402
million compared to $9.733
million.
Report
In his report to sharehold-
ers, Joseph Krukowski, DHHS
chairman, said all departments
generating patient services rev-
enue were positive contribu-
tors during the three months
to April 30, 2007.
But he added that DHHS
"continues to face challenges
from increasing expenses", dri-
L, yen by the rising cost of ped-


ical supplies, employee benefits
and salaries and pharmaceuti-
cals/drugs.
Total expenses for the 2008
first quarter rose by $0.4 mil-
lion or 4.7 per cent, growing
from $8.479 million to $8.879
million.
Taxes
Mr Krukowski noted that
government taxes and fees
increased by 10.5 per cent, ris-
ing from $200,000 to $221,000.
Other operating expenses,
which includes items such as
insurance and leases, grew by
22.6 per cent, from $933,000 to
$1.144 million.
Medical supplies and ser-
vices costs grew by 12.4 per
cent to $2.628 million, com-
pared to $2.338 million the
year before, while payroll costs
increased by 8.1 per cent -
growing from $3.42 million to
$3.697 million.
Mr Krukowski said Western
Medical Plaza "continues to be
a challenge as we seek a buy-
er", but the losses from this
facility and the drag on
DHHS results had decreased
as a result of inflows from
rental income earned on the
property.
For the 2008 first quarter,
losses from Western Medical
Plaza had decreased slightly,
to $145,000 from $188,000.
Meanwhile, DHHS had
been able to close the sale of
five acres of undeveloped com-
mercial land on Blake Road.
The $1.038 million deal, which
had awaited approval from the
Government's Investments
Board and exchange control


BLAIRWOOD ACADEMY


SUMMER SCHOOL
Juy 2 to 27 9:00 to l2:30


READING, wRmNG. MATH,
STVDY SKILLS. COMPVTER







OUR METHODS HELP STUDENTS

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OR COME IN TO REGISTER
VILLAGE RD SOUTH OF QUEEN'S COLLEGE
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Worker must be able to work a
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Please contact us at:
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Fax resume to 1-(242)-377-0276.


Serious


Inouires Only


approval from the Central
Bank of the Bahamas, likely
due to the involvement of for-
eign interests in the unnamed
acquiring company, generated
a $16,000 gain for DHHS.
During the 2008 first quarter,
accounts receivable owed to
DHHS by self-pay and unin-
sured patients increased by
39.2 per cent, growing from
$951,000 at January 31, 2007,
to $1.324 million at first quar-


ter-end.
And accounts receivable
owed by third party payors,
such as private health insur-
ance companies and govern-
ment entities, had risen by 16.2
per cent since the end of fis-
cal 2007. They had grown from
$5.521 million to $6.417 mil-
lion.
DHHS has a $6.2 million
provision for net accounts
receivables.


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The successful candidates for the Supervising Senior/Senior positions must have at least three to four years
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recognized by the Bahamas Institute of Chartered Accountants.

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professional experience. We offer competitive compensation and benefits packages.
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2007. KPMG, a Bahamian partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a
Swiss cooperative. All rights reserved.






C F A L.
Pricing Information As Of:
Tuesday. 12 June 2007
BISX LIST-Db & TRAbeD 8VCUkiMT9 VIS t vWli..i8f .A1/AM"A.Od 6FO1F M6 i DATA & INFORMATION
BISX ALL SHARE INDEX: CLOSE 1,794.08/,CH 00000 / %CHG 00.00 I YTD 117.89 / YTD % 07.03
52wk-Hi 52wk-Low S.-:u,..l Previous Close Toaay's Close Cnange Dal, ./ol EPS I. E,. t F t:. Y.._l
1.85 0.54 Abaco Marp.ets 1.18 1 18 0 O *u. r.,: 00.,: rP I::.1
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 0.737 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%
5.93 4.22 Consolidated Water BDRs 5.27 5.11 -0.16 0.112 0.049 45.9 0.95%
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 6.25 6.25 0.00 0.694 0.240 9.0 3.84%
12.60 11.50 Finco 12.60 12.60 0.00 375 0.787 0.570 160 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 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 7.25 7.25 0.00 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%
.- .:- ,7?,,.-,, + ,*.--+.t, .- :
*2.,- H. 52-sl..Lr.,. Syrrol, Bid $ Ask S Last Price Viee's .o01 EPS. i 0,. i P EYelC
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%
0.54 0.20 RND Holdings 0.45 0.55 0.20 0.034 0.000 26.2 0.00%
43.00 28.00 ABDAB 41.00 43.00 41.00 2.220 0.000 194 0.00%
14.60 14.00 Bahamas Supermarkets 14.60 15.50 14.00 1.234 1.125 12.6 7.71%
0.60 0.35 RND Holdings 0.45 0.55 0.45 0.021 0.000 26.2 0.00%
H.-i.'\a H -,.'... L,:. Fur.,J la.Te N_ V YTD-" LaSI 12 M.;,.-.r-.,s Di. 1'i, -
1.3418 1.2907 Colina Money Market Fund 1.341839"
3.2018 2.9038 Fidelity Bahamas G & I Fund 3.2018"**
2.6819 2.3915 Colina MSI Preferred Fund 2.681688**
1.2443 1.1695 Colina Bond Fund 1.244286.***
11.5519 11.0199 Fidelity Prime Income Fund 11.5619.....
EI -.-. zE. i l. ,.,. I. 1T..: ,,. -= I .:..:**:* .:, f...rl.E T lE Mt.l IlELLE BI I .- :..'.h ].il. ir l ...e t, *' ,'a 3 I .-1. 1,
52wk-HI Highest closing price In last 52 weeks Bid S Buying price of Colina and Fidelity
52wk-Low Lowest closing price in last 52 weeks Ask Selling price of Colina and fidelity I 1 June 2007
Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price
Today's Close Current day's weighted price for daily volume Weekly Vol Trading volume of the prior week "- 30 Apl 2007
Change Change in closing price from day to day EPS $ A company's reported earnings por share for tho last 12 mths
Dally 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
JRE --Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January 1. 1994 = 100 ". 30 April 2007
."".. 31 May 2007
TO TRADE CALL- COLINA 242-502.7010 / FpEULITY 24a*,5,' I FPOR MORE DATA & INFORMATION CALL (242) 394-2503


OBCA

BAHAMIAN CONTRACTORS' ASSOCIATION


ANNUAL GENERAL MEETING

Notice is hereby given that the 2007
Annual General Meeting of the
Bahamian Contractors Association will
be held at the Nassau Yacht Club, East
Bay Street, Nassau, Bahamas, on
Thursday, 14th June, at 1 pm.


T -- -- T rTr --- -- ... . . .. .


WEDNESDAY, JUNE 13, 2007, PAGE 7B


4%UBS

UBS Trustees (Bahamas) Ltd., a leading international tir ut
company, is looking for a

New Business Officer

Responsibilities:
Review business established to ensure policies and
procedures are adhered to;
Ability to vet tailor-made deeds;
Undertake the processing of new business ensuring
proper due diligence is in place and adherence to
policy and procedures;
Serve as signatory on assigned companies;
Handle research into and prepare responses to client
enquiries including responding to and preparing a
range of correspondence;
Undertake the processing of New Business ensuring
proper due diligence is in place;
Prepare proper minutes, resolutions, account opening
forms, share certificates and relevant checklists for
new accounts;
Liaise directly with clients, their professional advisers,
trust company agents, bankers, investment advisors,
etc. in respect of routine matters;
Review and maintain accuracy of static and processing
data;

Required Qualifications:

STEP designation;
5 years of trust administration experience;
5 years legal experience;
Good analytical skills;
Good knowledge of finance industry in general and
especially foundation business and fiduciary products;
Good interpersonal skills;
Computer literacy;


Interested persons should submit a full resume, to:

UBS Trustees (Bahamas) Ltd.
Human Resources
Re: New Business Officer
P.O. Box N-7757
Nassau, Bahamas

or
hrbahamas@ubs.com
Re: New Business Officer


THE TRIBUNE






THE TRIBUNE BUSINESS


PAGE 8B, WEDNESDAY, JUNE 13, 2007


GN-516


SUPREME COURT


SUPREME COURT
PROBATE REGISTRY
RO. BOX N-167
Nassau, The Bahamas
June 14, 2007
Probate Division
2007/PRO/npr/00260

IN THE ESTATE OF VIRGINIA SHARP, late of
107 N. Elm Street in the Country of Champaign
in the State of Illinois, one of the States of
America,
deceased.

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
KEVIN MARTIN RUSSELL of #14 Doubloon
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
SHIRLEY CARLTON SHARP, the Executrix of
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
2005.

Signed
Desiree Robinson
(for) Registrar


Probate Division
2007/PRO/npr/00261


SUPREME COURT
PROBATE REGISTRY
P.O. BOX N-167
Nassau, The Bahamas
June 14, 2007


IN THE ESTATE OF JOHN ELMER PAXTON,
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,
deceased.

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
KEVIN MARTIN RUSSELL of #14 Doubloon
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
BEULAH MAE PAXTON, the Personal
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

Signed
Desiree Robinson
(for) Registrar


COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
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,
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.
Sign
Desiree Robinson
(for) Registrar



THE SUPREME COURT
PROBATE DIVISION
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,,
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.

Sign
Desiree Robinson
(for) Registrar



THE SUPREME COURT
PROBATE DIVISION
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, rodence, one
of the Islands of-the Cormilwealth 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.

Sign
Desiree Robinson
(for) Registrar


THE SUPREME COURT
PROBATE DIVISION
June 14, 2007
No. 2007/PRO/npr/00265

Whereas, JILLIAN T. CHASE-JONES of
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
BARON a.k.a. SUSAN MCLAIN BARON late
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.

Sign
Desiree Robinson
(for) Registrar


THE SUPREME COURT
PROBATE DIVISION
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


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.

Sign
N. Neilly
(for) Registrar


THE SUPREME COURT
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.

Sign
Nicoya Neilly
(for) Registrar


SUPREME COURT
PROBATE REGISTRY
P.O. BOX N-167
Nassau, The Bahamas
June 14, 2007
Probate Division
2007/PRQ/npr/Oe269 --'

IN THE ESTATE OF WILLIAMS S. GLASS, late
of 3340 Cambridce 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
America,
deceased.

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
PEMBROKE H. WILLIAMS of the Western
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
2005.

Signed
N. Neilly
(for) Registrar


THE SUPREME COURT
PROBATE DIVISION
June 14, 2007
No. 2007/PRO/npr/00270

Whereas, DOROTHY MAE ROACHE of Bel-
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
of SAMUEL LAWRENCE ROACHE late of
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.

Sign
Nicoya Neilly
(for) Registrar





THE TRIBUNE BUSINESS


WEDNESDAY, JUNE 13, 2007, PAGE 9B


PRESENTS


I,


FEATURING "THE QUEEN OF SOCA"

DESTRA WITH ATLANTIK
ALSO FEATURING: VISAGE, K.B. & AVVY





TICKET LOCATIONS: Burns House Locations
Budget Liquor, Bernard Rd Bahamas Wholesale Wines & Spirits, Shir,, !
Saunders Beach Liquor Store, Saunders Beach Burns House. J.F'. e
and at The Jukebox, Mall at Marathon


Ri


-0)







THE TRIBUNE


AP GE 10B WEDNESDAY, JUNE 13, 2007


ummer festival

\Jfin the Abmos







6:00pmo 12 midnight


Featuring:

Colin MDo INld,

Nehemiah Held, Nita


r t th Abeo Twuit OfficW at 242-367-3067


87

* By NEIL HARTNELL
Tribune Business Editor
A FORMER Lyford Cay
resident has been sentenced to
87 months in prison and
ordered to pay $34 million in
restitution after pleading guilty
in a US court last year to
defrauding investors out of $47
million through a fraudulent
investment scheme he operat-
ed.
Eric Resteiner, 48, was sen-
tenced on May 16, 2007, in the
US District Court in Massa-
chusetts, having earlier pled
guilty to seven counts of wire
and mail fraud relating to a
fraudulent 'Ponzi' scheme that
defrauded about 50 investors.
Mr Resteiner, a Christian Sci-
entist practitioner who was
described to The Tribune as a
"very flamboyant figure" dur-
ing his time in the Bahamas,
misappropriated investor
monies to fund his lifestyle,
"which included maintaining a
significant home in Lyford
Cay".
To facilitate the scheme,
which involves paying off older
investors with new investor
monies, Resteiner allegedly
deposited investor funds into
accounts at Scotiabank and the
former Barclays Bank in Nas-
sau.
He opened and "exclusive-
ly" controlled these accounts,
which were in the names of
Swiss Asset Management Cor-
poration, Wall Street South
Corporation and Osaka Ltd.
There is nothing to suggest
that Scotiabank, Barclays or
the latter's successor institution,
FirstCaribbean International
Bank (Bahamas), have done
anything wrong in relation to


months


the Resteiner affair.
Resteiner allegedly told
investors, most of whom were
fellow Christian Scientists, that
they would enjoy returns of 4-5
per cent per month on their
investments via a European
investment technique known as
'forfeiting'.
The US District Attorney's
office had previously alleged:
"Resteiner told victims that
their investment was risk-free
because the instruments he was
trading were backed by Dou-
ble A rated banks, the trades
were pre-confirmed, and the
investors' principal would nev-
er be at risk because these
instruments could be cashed-in
at the banks at any time.
"It is alleged that in fact,
Resteiner well knew he was not
a trader and had no way to gen-
erate income to provide the
promised returns; the victims'
principal was not safe and, in
fact, was being used for his own
personal use and to pay pur-
ported 'interest' payments to
victims in order to lure more
investors and more money into
the scheme."
Tribune Business first
revealed Resteiner's alleged
wrongdoings after he was sued
by the Securities and Exchange
Commission (SEC) in relation
to the same investment scheme.
In the SEC lawsuit, Restein-
er and a fellow Bahamas resi-
dent, Voldemar VonStrasdas,
allegedly promoted their
scheme through many investor
meetings in Nassau.
The SEC alleged that until
May 2000, Resteiner, whom
lived in the Bahamas from the
mid-1990s until May 2000, and
VonStrasdas received investor
funds and made monthly pay-


ments. After that date pay-
ments ceased and no investors
got their money back before
the SEC lawsuit was filed in
2001.
The pair had default judge-
ments entered against them in
relation to the SEC lawsuit in
May 2002, ordering them to
each pay $4.4 million in civil
penalties and disgorge and pay
interest worth more than $25
million. VornStrasdas allegedly
filed for bankruptcy in Febru-
ary 2003, urging the SEC to
recover the funds from Nassau
and denying all the allegations
against him.
To placate investors worried
about their investments, the
SEC alleged that VonStrasdas
represented in a letter that the
Central Bank of the Bahamas
had frozen all Resteiner's
assets, which he claimed were
worth $90 million.
Resteiner was alleged to have
begun the Swiss Asset Man-
agement scheme in 1997 at a
meeting in the Bahamas, and
then started work on soliciting
investors for the Resource F
and Wall Street South schemes.
At least $12 million of the
Resource F funds raised dur-
ing 1999 and 2000 were even-
tually transferred to a Wall
Street South account in the
Bahamas. A further $7 million
raised under the Wall Street
South name was "wired or
deposited by investors into one
or more bank accounts in the
Bahamas controlled by the
defendants", while $3 million
raised under the Swiss Asset
Management alias between
1997 and 1999 was also trans-
ferred by investors to Bahamas-
based accounts controlled by
Resteiner and his associates.


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