The Tribune.
Full Citation
Permanent Link: http://ufdc.ufl.edu/UF00084249/02923
 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: 6/22/2007
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
sobekcm - UF00084249_02923
System ID: UF00084249:02923

Full Text

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Volume: 103 No.175 FRIDAY, JUNE 22, 2007 PRICE- 750



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PM says govt has 'no

fear' over election court

Tribune Staff Reporter
PRIME Minister Ingraham
declared that he and his govern-
ment have "no fear" in response
to the PLP's election court chal-
lenges that have the potential of
changing the balance of power in
the Bahamas.
A confident Mr Ingraham chal-
lenged the PLP to "bring it on"
- yesterday while speaking to the
media at Lynden Pindling Inter-
national Airport on his return
.fom..thA ARICOM/US confer-
ence on the Caribbean, held at
the State Department in Wash-
ington, DC, Wednesday.
Met at the airport by 12 mem-
bers of his cabinet, Mr Ingraham

PRIME Minister Hubert
Ingraham shakes hands with US
President George W Bush at the
US State Department during
CARICOM's meeting with the
President as part of the CARI-
COM/United States Conference
on the Caribbean in Washington
(Photo: OAS)

did not say whether his party had
assembled a legal team to defend
its interests in the cases, but he
advanced the party's right to
defend the seats it won.
"The FNM will defend what it
won on the battle field. We'll see
what the allegations are and we
would take appropriate steps to
defend it in the court of law. We
will not seek to try the case in the
newspaper, as appears to be the
case now," he said.
"We won them squarely and
fairly on the battlefield. They are
FNM seats and we intend to keep
them all of them," the prime
minister added to thunderous
applause from his cabinet.
When asked if he would be
willing to call another election if
the court decision changed the
results with the three seats in
question, the Prime Minister said:
"Only the people of the
Bahamas can determine their
government. Courts can't deter-
mine that. Governments are
determined by elections. We had
an election, and the people deter-
mined that."
Although the prime minister
said that his party will abide by
the court decision from which
there is no appeal he also sug-
gested that he is not afraid to
exercise his right to call another
election, if his party lost seats in
the challenges.
"The authority to call elections
in the Bahamas general elec-
tions vests in myself for the time
being. And if, or when, I think it
is necessary to do so, I shall do so.
At the moment I have no inten-
tion of doing so, but things change
sometimes," he said.
The PLP filed election court
challenges in three constituencies
by last Monday's deadline Mar-
SEE page 11

(Photos: Tim Clarke/Tribune staff)

A MAN, 27, charged with the murder of
Deangelo Armbrister was arraigned in Magis-
trate's court yesterday.
A second man, accused of abetment to Arm-
brister's murder, was also arraigned in court
Armbrister, 21, of South Beach Estates was
killed on Brougham Street off East Street last
week. According to reports, Armbrister was
repairing his car outside 'the home of his girl-
friend's mother when he was approached by a
man armed with a shot gun. He was shot in
the head.
Eduardo Carey of Windsor Estates was
arraigned before Magistrate Carolita Bethel
at Court eight, Bank Lane, yesterday, charged
with the murder of Armbrister. According to
court dockets on Tuesday, June 12, at New
Providence while being concerned with oth-
ers, he is accused of causing the death of Dean-
gelo Armbrister. Carey was not required to
plead to the murder charge. Tito Davis, 21, of
Step Street was also arraigned before Magis-
SEE page 11

Gas price rises
to $4.87 a gallon
Tribune Staff Reporter
LITTLE relief can be seen in the
coming days for Bahamian motorists
as the price of gasoline continues to
climb, now at $4.87 a gallon.
Across the United States, however,
the price of gasoline has dropped to
an average $3, as the price of oil on
the international market fell by $0.91
cents to settle at $68.19 a barrel on
the New York Mercantile Exchange.
However, while prices may have
dropped in the US. Phenton Ney-
mour, State Minister for Utilities,
said that does not mean that prices in
the Bahamas will have to follow the
US market.
Mr Neymour said the Bahamas
purchases most of its fuel from
Venezuela, and as suzh, the market
forces that affect US prices would
not directly affect the purchasing
SEE page 11


model for


NHI scheme

'is in decay'
THE Canadian healthcare
model on which the Bahamas'
proposed National Health
Insurance scheme is modelled
is in "decay" and certain of the
system's provisions, which NHI
is set to mirror, were even ruled
to be unconstitutional.
Presenting a lecture "Lessons
from Global Experience for
Bahamian Health Care
Reform" at a Nassau Institute
symposium yesterday, Dr
Michael Walker, a renowned
economist and fellow of the
Fraser Institute of Canada who
has spent decades studying
global healthcare systems, said
that of all models the Bahamas
could have taken inspiration
SEE page 11

Death sentence of
convicted murderer
commuted to
life in prison
CONVICTED murderer
Angelo "Nasty" Brennen is no
longer a "condemned" inmate
now that his death sentence has
been commuted to life in prison,
The Tribune has learned.
Yesterday Supreme Court
Justice Jon Isaacs re-sentenced
Brennen to life in prison.
In 2005, Brennen was con-
victed and sentenced to death
for the October 2004 shooting
death of Ruthmae Pinder. Ms
Pinder was standing at a bus
stop opposite Temple Baptist
Church on Farrington Road on
October 29, 2004, with her two
daughters. It was learned
through testimony that Ms Pin-
der had ended a relationship
with Brennen six months before
she was killed. According to
witness testimony, Brennen shot
Ms Pinder twice, puncturing her
left lung and left side. Lawyer
Romona Farquharson repre-
sented Brennen and Director
of Public Prosecutions Bernard
Turner appeared for the prose-
cution yesterday.
Since the Privy Council's
SEE page 11


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Minister speaks out over the

three children sent to prison


MINISTER of State for
Social Development Loretta
Butler-Turner spoke out yes-
terday about sending three
children to Her Majesty's
The minister also corrected
what she described as false
statements made about the
case of a 12-year-old girl by the
girl's mother.
On January 2, 2007, the girl
was found home alone when
police arrived with an arrest
warrant for her and her moth-
er for failing to appear in court.
The girl was then faken into
protective custody where she
was placed in a home.

MINISTER of State for
Social Development, Loretta
Almost three months later
the child did not return to the

home after school. Two weeks
later she was found living with
her mother, who had previ-
ously denied to police having
any knowledge of her daugh-
ter's whereabouts.
The child was returned to
the children's home where her
continuous disruptive anc
uncontrollable behaviour led
to her appearing before the
juvenile court for destroying
bathroom fixtures.
This resulted in her being
committed to the Willie Mac
Pratt Centre for Girls.
The girl was one of sever
who damaged over $2,000
worth of property before flee-
ing the centre last month.
Juvenile court returned them
to the centre where she was
one of the three who tried to
escape again two weeks later
This time the three girls were
sentenced by the court to be
held at the prison for three
Mrs Turner said the ministry
is not happy with anyone under
18 being placed in the prison
but the only two correctional
facilities for children in the
country the Willie Mae
Pratt Centre for Girls and the
Simpson Penn Centre for Boys
often operate at maximumir
As of Wednesday, the Willie
Mae Pratt Centre had 42 resi-
dents and the Simpson Penn
Centre 56.
When children cannot be
managed at the centre due to
their behaviour, the precedent
has been for the juvenile court
to send them temporarily to
the prison.
Admitting that this is not an
ideal situation, Mrs Turner
said: "The government must
move quickly to either expand
the facilities and services at the
centres or establish new ones
with the proper resources."
Establishing new facilities

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I- __ ___ _____

would also allow correctional
facilities to be created to house
juveniles between the ages of
16 and 18 as the Child and
Young Persons (Administra-
tion of Justice) Act only allows
the centres to accommodate
children aged 10 to 16.
Some parents appeal to the
state to have their children
placed in the centres because
they cannot control them. In
situations like this "the state
must step in and be a safety
net," Mrs Turner explained.

She urged an examination of
society to determine why the
number of children being sent
to these centres is increasing.
The ministry is now looking
at action plans which include
strengthening the national par-
enting programme and reha-
bilitative programmes at the
It is also considering increas-
ing the number of school-based
programmes and structured
character building community

Caribbean conference

in Washington, DC

releases joint statement

A JOINT statement was released from the participants
in the Conference on the Caribbean in Washington, DC,
Wednesday highlighting, among other things, the recog-
nition that the establishment of the CARICOM Single
Market and Economy is a critical element to the growth
and development of the Caribbean Community.
Despite endorsing the agreement, the statement on
CSME does not bind nations such as the Bahamas to any
specific policies.
The FNM government made it clear during its budget
communication that it will not sign on to the agreement,
which was a significant point of national debate under
the PLP government.
SSome of the key components of the agreement include
the free movement of goods and services; a common exter-
nal tariff; and a common trade policy. However, the free
movement of labour provision of the agreement received
t the most criticism, with many Bahamians fearing an influx
of poor dependent Caribbean citizens, to further com-
pound the large illegal Haitian migrant problem that suc-
cessive Bahamian governments have been unable to get
under control.
t The members also expressed a commitment to extend
cooperation in health, continuing the US President's Emer-
gency Plan for AIDS Relief (PEPFAR) in the Caribbean.
The emergency plan is the largest commitment ever by
any nation for an international health initiative dedicated
to a single disease a five-year, $15 billion, multifac-
eted approach to combating the disease around the world
which includes 32 countries from the Caribbean and
Latin America.
A further commitment was made to work toward the
expansion of the pilot reintegration programme for depor-
tees in Haiti to include other CARICOM members states,
along with the development of new ways to facilitate,
coordinate, and communicate between immigration ser-
vices among member states.
The group also gave a vote of confidence in the gov-
ernment of Haitian President Rene Preval, though
acknowledging that the country will require further sub-
stantial international "support in the implementation of a
consistent and long-term strategy of institution and capac-
ity building."
In the post September 11th environment, the group
further pledged to work together in the fight against ter-
rorism, trafficking in persons, drugs, small arms, and
transnational crime.

$5,000 reward for

return of pendant

A $5,000 reward is being
offered for the return of a stolen i1,.
piece of jewellery.
An eight-carat, six-sided
emerald crystal pendant was
stolen last month. The pendant
is about one and half inches
long and half an inch in diame-
The item was stolen during
an armed robbery in the eastern
district of New Providence.
Any information should be
directed to: police emergency
at 919/911, CDU at 502-
9930/9991, police control room
at 322-3333, Crime Stoppers at
328-8477, or the nearest police


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Local News........................ P1,2.3,5,7,8,11,12
Editorial/Letters. ....................................... P4
Advts ................................................ P6,9,10
Business .............................. P1,2,3,4,5,6,7,9
C om ics..................................................... P8
W eather..............................................P10


Miami Herald Main.....................Page 1-12
Miami Herald Sports...................... P13-17
Local Sports.................................... P18-20

will have to learn to
build a house before
they can get contracts.
We are not going to give
contracts to people
because they are FNMs.
When I leave this place I
do not want what is hap-
pening now to be my
legacy," he said.

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PAGE 2, FRIDAY, JUNE 22, 2007

Concern over

houses with mi

construction fla

Tribune Freeport
Bahama Port Authorit3
is under fire for passing
inspections for occupan
cy of newly-built govern,
ment houses that are
plagued with major con-
struction flaws.
Minister of Housing
and National Insurance
Kenneth Russell said the
government is very con-
cerned about construc-
tion of defective houses
being built by contrac-
tors at various housing
sub-divisions in the
He noted that newly-
purchased houses are
falling apart, some with-
in less than four months
of construction.
While in Grand
Bahama on Wednesday,
Mr Russell said that
some houses in the Sun-
set and Heritage sub-
divisions are in need of
major corrective repair
work that is estimated at
around $45,000.
He said that there are
similar problems with
new built houses, as
well, in New Providence
and Exuma.
In Freeport, the Grand
Bahama Port Authority
is responsible for issuing
building permits and
occupancy certificates
for all new building con-
struction in the Port
An official at the
Grand Bahama Port
Authority's building and
technical department did
not wish to comment on
the matter.
The government is
now embarking on a
home repair programme
to restore government
houses that are in need
of major corrective
Mr Russell said
although contractors are
accountable for what has
happened in Grand
Bahama, he feels that
the Port Authority and
Ministry of Works also
bear some responsibility.
"In Freeport, the final
inspection for occupancy
is made by the Port
Authority. And, accord-
ing to the Port Authori-
ty's rules and regula-
tions, they were sup-
posed to inspect the
houses from the start.
"Personally, I am
holding them also
responsible and I have
told them that. If you
have to make a final
inspection, the least you
can do is walk through
the house and look
"There is a lady at the
Sunset sub-division who
says that her floor is
leaning. So, if an inexpe-
rienced person who has
never worked in con-
struction in their life can
see that the floor is lean-
ing, then persons who
have been working con-
struction all their life
should spot that the
floor is leaning.
"If the Port Authority
inspectors had done
their final inspection
before they signed off,
then these problems,
most of them, would
have been caught," he
Mr Russell said those
contractors responsible
for building defective
homes will be taken off
the government's list.
"Those contractors

FRIDAY, JUNE 22, 2007, PAGE 3


n brief

oots man
er money
29-YEAR-OLD man was
t on Wednesday evening
r being approached by a
adlocked gunman in the St
9ans Drive area.
'he gunman knew the vic-
i and asked for money he
lieved was owed to him. The
-tim explained that he did
)t have any money with him.
The gunman then shot the
-tim with a handgun before
eeding off in a Hyundai car.
Hospital authorities said
ie injuries were not life..
ireatening. A man is helping
police with inquiries.

an helping
police with
ver murder
A MAN wanted for ques-
ioning by police has been
David Cooper Cunning-
lam, 29, was held on
He is helping inquiries into
he most recent murder in
'unlight Village.

ound during
Search of

CRIMINAL Detective
Unit officers searched a home
9ff Kemp Road yesterday.
Nine live rounds of ammu-
ition for a 9mm handgun
'ere found.
Two male relatives, aged
1 and 29, were arrested.

Men arrested
in connection
with Nassau

Providence men wanted for
questioning in relation to a
recent murder in Nassau
were held in Grand Bahama.
Chief Supt Basil Rahming
said police had issued an all
points bulletin and distrib-
uted wanted posters of the
suspects, who were spotted
by local residents.
He said the duo were held
at about 4.15am on Monday
when Flying Squad officers
went to an apartment at
LaFayette Gardens complex.
Eduardo Carey, 27, of 1
Windsor Road, Windsor
Estates, and Tio Davis, 21, of
Step Street, Fox Hill, were
both being sought for ques-
tioning in connection with the
recent murder of DeAngelo
The men have been flown
to New Providence.
Mr Rahming thanked the
public for its continuing sup-
port in efforts to combat

Huge bill expected

to fund repairs to

government homes

Tribune Freeport Reporter
FREEPORT A number of
newly built low-cost govern-
ment houses are in need of
major corrective work to repair
extensive construction flaws -
some estimated at around
$45,000 in Nassau and
Freeport, a government minis-
ter has revealed.
Minister of Housing Kenneth
Russell stressed that the gov-
ernment is very concerned
about the numerous problems
being experienced by new
homeowners in various hous-
ing sub-divisions in the
He noted that newly-pur-
chased houses are falling apart
within less than four months of
While in Grand Bahama on
Wednesday, the minister and
various housing officials visited
several housing sub-divisions
throughout the island.
During a press conference
held at the Ministry of Hous-
ing, Mr Russell not only blamed
contractors for the shoddy con-
struction of homes, but also
pointed his finger at the Grand
Bahama Port Authority and
Ministry of Works, which are
responsible for conducting
building inspections.
Mr Russell said the govern-
ment is now embarking on a
Home Repair Programme, to
repair faulty houses that were
not built according to proper
He noted that one house in
the Heritage sub-division, which
has a construction value of
$60,000, is in need of some
$45,000 worth of corrective
repair work.
He also said that two or three
other homes are also facing sim-
ilar repair work in New Provi-
Some of the major problems

Contractors accused of shoddy
workmanship by Kenneth Russell



that are cause for concern are
extensive wall cracking, ceiling
collapse and leaky roofs, as well
as floor, plumbing and electrical
"We are very concerned
when someone purchases a
house and in less than four
months that house is leaking.
We are very concerned when
someone purchases a house
three years ago and has been
complaining for three years
about cracks that should have
been repaired.
"We are very concerned that
here in Freeport we have a
house that is going to cost
$45,000 to repair and has a con-
struction value of $60,000," he
Minister Russell said govern-
ment will send a team of inspec-
tors to review the homes and
speak with homeowners in an
effort to correct the problems.
Once a review is completed
and inspection carried out, he

said the government will obtain
an estimate for the repair work
so that contractors can begin
Mr Russell believes that fund-
ing for the Home Repair Pro-
gramme should be available
next month after the budget.
"We will first engage inspec-
tors that are not inspectors of
the Ministry of Housing to
inspect houses... and this time
we will allow for there to be
negotiations in the selection of
contractors based on their expe-
rience and knowledge," he said.
Mr Russell warned that con-
tractors responsible for the
shoddy construction will be held
accountable by the government.
"Contractors who botch up
people's houses will be held
accountable in two ways: one if
they have not gotten their pen-
sion money yet, in order to get
it, they will have to repair the-
house. Two, if they have gotten
their pension money and are
not prepared to assist us in the
repair of homes, they will be
removed from our list of con-
tractors," he said.
In addition to contractors, Mr
Russell said that the housing
inspectors, housing staff, the
Grand Bahama Port Authori-
ty, and the Ministry of Works in
Nassau are all accountable for
what has happened.
"The former government is
also responsible for what has
happened...the people of the
Bahamas have already dealt
with them. I assure you we (the
FNM government) have no
intention of this happening
again as long as we are in
office," he said.


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ESTELLE Evans has been
appointed by Governor Gener-
al Arthur Hanna, on the advice
of the Judicial and Legal Ser-
vice Commission, to act as a
Supreme Court judge, in effect
from September 1, 2007, for 18
Mrs Evans will be assigned
to the northern region and pre-
side at Freeport, Grand
Bahama, with effect from
November 1, 2007, succeeding
Mr Justice Maynard.
Currently serving as registrar
of the Supreme Court, Mrs
Evans was admitted to the
Bahamas Bar on December 16,
1988, having served articles of
clerkship under Mr Frederick
Smith of Callenders and Co as
an associate for six years.

Mrs Evans is married to Chief
Supt Shannondor Evans.
Born in Forbes Hill, Exuma,
on November 19, 1954, Mrs
Evans graduated from Prince
William Baptist High School,
1970, and in 1974 graduated
from Shaw Business College,
Toronto, Canada.
Joining the Office of the Judi-
ciary as the deputy registrar,
northern region, in January,
1995, she served in that post
until she was seconded to New
Providence to serve as acting
project co-ordinator of the
Bahamas Integrated Justice
Information Systems (BIJIS)
Project, a post she held until
her appointment as registrar of
the Supreme Court on March
1, 2004.




New Supreme Court

judge is appointed

Paper Fans, Balls & Garlands (All in Flag Colours)
4" x 6" Stick Flag $1.00 Nev
12" x 18" Stick Flag $2.99 T,-,
2 ft. x 3 ft. Flag Sale! $5.00 :.
3ft. xSft. Flag $10.00
Line of Flags $24.00 h.
Car Flags $4.99 ,


d 0 ,



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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

Another look at health care is needed

THE Nassau Institute and The Atlas Eco-
nomic Research Foundation sponsored an inter-
esting half-day symposium yesterday on chang-
ing the direction of a country to re-energise its
talents. It was a pity that government was not
represented, because with the challenges the
Bahamas now faces, new ideas should not only
be welcomed, but eagerly sought.
However, at least Health Minister Dr Herbert
Minnis will benefit from the wealth of healthcare
knowledge amassed over the years by Dr
Michael Walker, an economist, and founder of
The Fraser Institute with offices in Vancouver,
Calgary and Toronto. They were to meet yes-
terday afternoon after Dr Walker had complet-
ed his healthcare talk at Atlantis, where the
symposium was held.
Dr Walker was one of three speakers all
very interesting in their own fields who the
Institute introduced to Bahamians'.
At the symposium Dr Walker talked about
the lessons that Bahamians should learn from the
global experience of others so that in planning
their own health care reform, they can avoid
serious and costly pitfalls.
Calling the.proposal set out by the Report of
the 2004 Blue Ribbon Commission on Nation-
al Health Insurance (BRC) commissioned
by the Christie government a tax that will
eventually consume the national budget, he
warned Bahamians not to put their health care
in the hands of politicians.
Drawing a great deal from the Canadian
model, which he found very similar to the one
proposed for the Bahamas, he gave facts and fig-
ures of how national health insurance in Cana-
da has failed to deliver what it had promised
- in fact, he said, Canadians were not "getting
what they paid for." According to him, the Cana-
dian model was not one to follow. Even the
Canadian Supreme Court had ruled that cer-
tain of its provisions were unconstitutional
because it denied a person's free choice to med-
ical care.
Giving many examples of how patients did
not get the standard of care that politicians
promised, he told the story of Saskatchewan,
where hospitals were erected on almost every
street corner to buy votes, but once completed,
they were not funded. Here in the Bahamas the
Christie government talked of the clinics that
would be erected, especially on the Family
Islands, under the scheme. The government was
stopped in its tracks when Bahamian nurses
asked a very practical question: With the present
shortage of medical staff, who is going to man
the new clinics? That question was never

Studying the BRC report, Dr Walker ques-
tioned whether those who put it together had at
any time studied the wealth of world statistics
that would have guided them from the model
they had chosen. He suggested that they should
have been looking instead at the healthcare of
Australia, Sweden and Japan.
All statistics proved, he said, that no gov-
ernment can afford to provide the same quality
of healthcare without some limitations. Choices
had to be made as to which patients would be
cared for, and how far that care could econom-
ically be sustained.
Canada, for example, had the costliest sys-
tem with, as far as patients were concerned, the
worst healthcare available. In Canada there
were no choices. There were no private hospitals.
All were government owned. He said that
healthcare expenditure in all of Canada's
provinces overtook that country's total revenue
between 1997 and 2005.
Even with such high expenditure, patient
access to healthcare shrank and the quality of
service worsened. Even Alberta with all its oil
wealth performed no better in providing health-
care than did the other Canadian provinces.
Countries that also have private health care do
better by their citizens, he said.
In his opinion government's Blue Ribbon
Commission was introducing a "Trojan horse"
into the future of Bahamians. "I don't think
they realise what they are proposing," he said.
Like household and car insurance, he said,
health insurance should only cover catastro-
phes. For example, no one would expect insur-
ance to pay for a tyre change or oil leak in a car.
These would be considered ordinary running
expenses. By the same token, health insurance
should only be called on for serious health prob-
lems, not for the occasional headache or cold
fever. One only had to recall Russia, which had
tried the impossible while the world watched
its rapid decline.
Dr Walker predicted that if national health
insurance were managed by the National Insur-
ance Board (NIB), as recommended, it would
"blow out a lot of dough, and not provide what
you want."
Even the Blue Commission Report had to
admit that a study of the efficiency and effec-
tiveness of NIB showed that it was "overstaffed
by approximately 25 per cent and that it needs to
significantly improve its management processes."
Right from the beginning, the BCR had writ-
ten into the programme the formula for failure.
This is a scheme that needs much expert con-
sideration. If handled badly, it could destroy
this country.

....----.---------------1 E~

South P.O. Box N-7984 Nassau, Bahamas

"Don't limit your challenges,
challenge your limits,"
7:00am, 9:00am, 11:15am
Marriage Officer, Counsellor, Intercessor
Phone: 323-6452 393-5798
Fax: 326-4488/394-4819


5 CUBE $318.00

-.-. : / 5 CUBE $353.00

7 CUBE $445.00

9 CUBE $522.00

15 CUBE $650.00

U 25 CUBE $995.00





EDITOR, The Tribune.
AS Abaco grows and devel-
ops ever more rapidly we need
to take pause for a few
Economic growth is essen-
tial for development, and we
all know that. It provides for
improved living standards, bet-
ter welfare systems, improved
infrastructure, construction,
and in a tourist economy, more
and more resort project initia-
tions. Employment rates
increase, people spend more,
and communities tend to feel
fatter and happier.
Expanding economies'
require more and more physi-
cal space, and land values ele-
vate as property demand
becomes more competitive.
Remote areas of the landscape
become more attractive for
both speculative investments,
as well as for social infrastruc-
tural development. As pressure
increases on remote areas, so
does the pressure on endemic
and indigenous ecosystems,
habitats, species and land
We must all remember that
the attractiveness of our coun-
try relies on, and, is a product
of our natural resources and.
Our beautiful beaches and
shallow seas are a synergy with
our living coral reef habitats,
which maintain a protective
barrier against the extreme rav-
ages of winter storms and hur-
Our swamp lands, creeks,
and marls generate unique
forests full of unusual birds,
insects, crustaceans, fish, rep-
tiles and, now, mammals.
These same tidal creek sys-
tems provide nursery areas for
our commercially exploited
marine species, including lob-
sters, scale fish, and the highly
desired land crab.
These same tidal low lands
provide a buffer zone between
the pinelands and the raw
exposure of the oceans and
deep seas. They also provide a
gradient along which the fresh
water run off from the aquifers
of the pine yards can flow sea-
wards, and so help support our
unique mangrove habitats.
The pine forest areas are
essential for the generation of
the high levels of rainfall expe-
rienced in all the northern
islands of the Bahamas. Fresh
potable water is the result, and
presently we have an ample
supply. These pine areas have
also been periodically devel-
oped for large scale agricultur-
al production systems of many
thousands of acres.
The drier coppice and hilly
greenlands are again unique in
species and habitats, providing
large amounts of forage for
native bird species and reptiles,
butterflies and moths. These

areas occur mainly along the
coast behind the beautiful
beaches; and have become high
value real estate ripe for the
foreign capital we so urgently
I could go on and on quoting
examples of natural systems
and commercial values so
important for the Bahamian
economy. However, as earlier
mentioned, we rely totally on
our natural systems for our
very high standard of living.
We also want and need to keep
it this way.
As development takes place,
and the pressure on natural sys-
tems increases, so does the
potential for destructive prac-
tices. We as a people have
already seen the need for habi-
tat and species protection. The
Inagua National Park (flamin-
gos), the Exuma Land and Sea
Park (marine ecosystems), and
the Abaco National Park (par-
rots); are examples where
species conservation dictates
habitat protection to support
those species. This is why pro-
tected areas tend to be so large.
Environmentalists would be
much happier if all the sensitive
areas were protected and con-
served, with severe limitations
on development. However we
all realise that to maintain our
well being and provide for
future generations physical
expansion and development go
hand in hand with improved
standards of living.
This why we need to take
In our headlong rush for
development we must all
accept that to protect our way
of life we also need to protect
and nurture our natural envi-
ronment. To this end we must
take on the onus of acting
responsibly. We need to learn
to plan for development; and
we need lots of information to
be able to plan. So we need
access to the knowledge of
Localised information
Resource assessment and
environmental considerations
Existing institutions, struc-
tures and operations in the area
Future area growth,
demands, and consequences
Regulations and legal
Taxation and exemptions.
Consequences of irrespon-
sible actions
The above represent just a
few examples of information
we need in order to plan effec-
tively for development. It also
clearly demonstrates the need
for consultation.
Local councils, local com-
munities, local governmental
agencies all have a wealth of
information available for plan-
ning. However they all become
impotent when local input is
bypassed and central govern-
ment is utilised to more rapid-
ly approve a development pro-
There are instances where
approval may never be sought
because local monitoring is
ineffective, because of arro-
gance, and because of lack of
knowledge and thought. All
three present a potential for
permanent environmental
Here in Abaco we presently
have three examples of recent
infringement on natural sys-
tems with the potential for
future severe consequences.
Two involve the Government

of the Bahamas (arrogance,
and the third a lack of thought
and consultation by a loca
equipment operator.
The central government, in
its quest to provide an
improvement in the waste han-
dling facilities of the Bahamas.
has seen fit to forge ahead with
the construction of a waste
landfill site and two satellite
transfer stations with no real
local consultation, no apparent
seeking of permits and
approvals, and no considera-
tion for the Abaco environ-
ment. The result has been the
ongoirig construction of two
waste (reception and) transfer
sites situate in environmental-
ly and socially sensitive areas;
where permanent irreversible
damage to local potable water
sources, agricultural, and eco-'
touristic institutions are not
only possible, but likely.
The third involves the use of
heavy equipment to begin land
clearing and road preparation
in the protected area of the
Abaco National Park. This pre-
sents a distinct and probable
threat to the contiguity of the
area and its eventual fragmen-
tation. Once this happens then
irreversible damage to the ecol-
ogy of the park becomes appar-
The above examples all
expose alack of consideration
and concern for the local Aba-
co landscape, and a total disre-
gard for local institutions and
welfare. In the case of the
Bahamian government this is
both frivolous and irresponsi-
ble, and reflects a level of
incompetence only exceeded
by its arrogance in its refusal
to take a reparative course of
action. All the above cases pre-
sent a real and potentially dev-.
astating effect on our natural
heritage and ecosystems. The
implications for the future are
The only way to prevent
future instances and occur-
rences such as these is for the,
Abaco community to prepare a
comprehensive 'Plan for
Development' which must take
into consideration all the facets
implicit in a growth strategy
for the island.
These must include social,
economic, and infrastructural
considerations, land and
marine systems, ownership,
access, resource exploitation
and other environmental con-
Other physical factors such
as climate, sea levels, weather
changes, coastline resilience,
habitat alterations and effects
on resource health and conser-
vation need to be considered.
This is especially so for potable
water, commercially exploited
species, nursery areas, histori-
cal and ecologically sensitive
sites such as blue holes and vir-
gin lands.
It is important to consider
that with a rapidly developing
economy and a huge area of
unexploited resources, includ-
ing prime land for real estate
development, the Abacos hold
the potential to become the
seat of the economy for future
growth in the Bahamas.
It is terrifying to think of
the consequences of this with-
out a proper and implemented
plan for development.
The choice is ours.
Take pause for a moment.

Marsh Harbour,
May 21, 2007.

* You should have a High School Diploma
* Past managerial experience
* Certificate in Management is a plus
* Must be available for day and night shifts,
including weekends
* You should demonstrate strong communication,
leadership, motivational and people management
* You should have a valid driver's license
* You must have a GREAT attitude towards
customer service!

Basic responsibility to include:

* Maintain product, service and image standard
* To assist in supervision of all phases of
* To maintain a high level of efficiency &
productivity in all areas of store operation

Please send r6sum6 on or before
Attention: Human Resource Department
P.O. Box SS-6704
Nassau, Bahamas
Or Fax 356-7855



(Men or Women)

Applicants must be at least 23 years of age, self-motivated,
disciplined and possess the following:

A valid driver's license
The ability to drive standard shift vehicles

Please visit our Bernard Road office
between the hours of 9:00am and 5:00pm, Monday Friday
to pick up an application form.




PAGE 4, FRIDAY, JUNE 22, 2007


n brief

ze $55k
est man
na police arrested a
man at Lucayan Har-
ind seized $55,000 in
md an illegal firearm
ered onboard the MV
ice said officers, acting
formation, went to the
mur at about 8pm on
day and boarded the
oat. They saw a young
fitting the description
to them of a suspected
e suspect was walking
ly away from the vessel
rds the gate. As police
coached, the man tried
e but was apprehended.
lice took him back on
ie vessel to a section
re the officers retrieved
5 semi-automatic pistol
ed with four live bullets.
hey also seized $55,680
which is suspected of
g the proceeds from a
inning criminal enter-
s a result, a 23-year-old
lent of New Providence
Grand Bahama was
sted and taken into cus-
at the Central Detec-
Unit, along with the
d items.
-he man was formally
urged on Thursday.



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

FRIDAY, JUNE 22, 2007, PAGE 5

Bahamas endorses


- but still

won't sign on

A JOINT statement \u.,s
released from participant. o>l
the Conference on the
Caribbean in Washington DC
highlighting, among other
things, recognition that the
establishment of the CARI-
COM Single Market and Econ-
omy as a critical element of the
growth and development strat-
egy of the Caribbean Commu-
Despite endorsing the agree-
ment, the statement on CSME
does not bind nations such as
the Bahamas to any specific
The FNM government made
it clear during its budget com-
munication that it will not sign

on to the agrecn int, which %.is
a _-,ignilicant point o national
debate under the PLP gocin--
Some key components ot the
agreement include the free
movement of goods and ser-
vices, a common external tariff
and a common trade policy.
However, the free movement
of labour provision of the agree-
ment received the most criti-
cism, with many Bahamians
fearing an influx of poor depen-
dent Caribbean citizens to fur-
ther compound the large illegal
Haitian migrant problem that
successive Bahamian govern-
ments have been unable to tack-

M nil, 1 1 N iI .*. |l',1 L l '| L d I

I. 1 1 I'r1d1 l 1. .'n L l.. I' i L, lflIi n
tor AIDS Relel PfiPi-AR) in
the Caribbean.
The emergency plan is the
largest commitment ever by
any nation for an international
health initiative dedicated to
a single disease a five-year,
$15 billion, multi-faceted
approach to combating the dis-
ease around the world which
includes 32 countries from the
Caribbean and Latin Ameri-
A further commitment, too,
was made to work toward
expansion of the pilot reinte-

* HUBERT Ingraham shakes hands with US President George
W Bush

gration programme for depor-
tees in Haiti to include other
CARICOM member states,
along with the development of
new ways to facilitate, co-ordi-
nate, and communicate between
immigration services among
member states.
The group further offered a
vote of confidence in the gov-
ernment of Haitian President
Rene Preval, though acknowl-

edging that the country will
require further substantial inter-
national "support in the imple-
mentation of a consistent and
long-term strategy of institution
and capacity building."
In the post-September 11
environment, the group further
pledged to work together in the
fight against terrorism, traffick-
ing in persons, drugs and small
arms, and transnational crime.

Island goes on sale for $12m-plus

THE owner of a private
island in Exuma has boasted he
has more gun permits than any-
one in the Bahamas, claiming
'it's who you know.'
Jack N. Halcomb, whose
Leaf Cay goes on the auction
block at $12 million later in the
month, is quoted by ABC News
as saying he has five gun per-
mits "more gun permits than
any other person in the
"They don't easily issue you
permits for one gun," Halcomb
said. "If you know the right
people you can get them," ABC
Halcomb's 15-acre island,
with its beautiful beaches and
two residences, is expected to
draw opening bids of $12 mil-
"It's not for everybody, but
it's a real good place to get
away, completely relax," Hal-
comb, who's owned the island

for 20 years, told ABC
The auction is sched-
uled for June 28 in Fort
Lauderdale, Florida.
Nearby islands are
owned by superstars John-
ny Depp, Nicholas Cage,
David Copperfield and
Eddie Murphy.
"It's isolated. Nobody
gives you any trouble,"
Halcomb said. "You
could stand on the beach

naked for a week and
nobody would ever see you."
Leaf Cay is one of 17 of the
roughly 800 inhabitable islands
in the region that has its own
title, according to Louis "Ben-
ny" Fisher, chairman of Fisher
Auction Co,
Halcomb bought the island
in 1986 for $650,000.
He told ABC he made $25
million worth of property
improvements since he first

* LEAF Cay seen from the air

moved in and ran his business
part-time from the Bahamas,
selling electronic surveillance
equipment to the military and
law enforcement agencies.
Initially, he ran the company
in Florida before moving the
business to his island. In 1992
he sold the company, Audio
Intelligence Devices, to West-
But skin cancer made Hal-
comb, who now lives on a Ken-

tucky ranch, decide to
sell the island.
"The doctors
ordered me to get out
of the sun. ... They
said: get rid of the
island or make funeral
arrangements," he told
ABC News.
Leaf Cay is self-suf-
A seven-mile under-
sea cable Leaf Cay's
one of the few islands
tied'into the Bahamas

power system six back-up gen-
erators and two dozen solar
panels provide a steady supply
of electricity.
Drinking water is supplied
by underground cisterns that
capture and store up to 145,000
gallons of rain water. A back-up
desalinisation plant was
installed seven years ago that
can turn 5,000 gallons of sea-
water into drinking water.

Leaf Cay has its own wood
and metal shops, seven electric
golf carts, a fork-lift, tractor and
lots of building supplies.
Halcomb says he bought
everything, including tyres, nuts
and bolts, 'lock, stock and bar-
rel' when a Florida hardware
shop went bankrupt.
He has four spare refrigera-
tors still inthe box.
A freezer building holds up
to 4,000 pounds of frozen food -
Halcomb says he keeps two to
three years worth of canned and
frozen supplies.
Just as he didn't have to wor-
ry about his safety, Halcomb
never feared that he'd starve.





Mt Royal Ave, Hawkins Hill, Palmdale, Mackey St and
Murphyville.Yamacraw, Elizabeth Estates, Kool Acres,
Lumumba Lane and Hanna Rd, Sandilands Village, Seabreeze
Lane, Eastern Estates and San Souci. Marshall and Cowpen
Rd including Misty, Pastel and Faith Gardens, Golden Gates,
Carmichael Rd, Yellow Elder Gardens and Bluehill Estates.



All overdue BEC payments must be made at the Head
Office on Blue Hill and Tucker Roads, the Mall at Marathon
or the Main Post Office.

Powering The Bahamas for Generations

Smart is Tough


Save NOW on your Choice of New 2007 Ford vehicles

4 .... 2007 Ford "RANGER"

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w;~.-~i'r I II.I1r'l l- -I ^-.



partnered to

supply critically needed


for the Prin


Margaret Hospital

(1-r) Barry Packington, financial controller Kelly's; Sean D.
Moore, marketing manager, The Tribune; Nancy Kelly, execu-
tive vice president, Kelly's; David Kelly, president, Kelly's.
Donation $20,500.



Help us raise
to purchase 8

machines for the PMH.
You can donate

$1.00 $100,000 every cent counts.



unit costs


tion, training of staff members and 1

year of technical


(I-r) Mark
manager -

Roberts, Tile King & FYP Ltd.; Michelle Taylor, office
Palmdale Vision Centre; Sean D. Moore, marketing
The Tribune. Donation $2,000.


The Princess
Foundation w


made p.

All dona-
ayable to

vith a note for The

Dialysis Machine Fund.

(1-r) Mark Roberts, Tile King & FYP Ltd.;Garry Julien, manag-
er Cowpen Building Supplies; Adriel Julien, secretary -
Cowpen Building Supplies; Robert Carron The Tribune.
Donation $20,500.

Your contribution will help hundreds

of patients

that currently



these machines for life.




D. Moore

e at 502-2394 (
of the Princess

of The

or Thelma

Hospital Foundation at 325-0048


make a donation.




a i .%-

3UNE FRIDAY, JUNE 22, 2007, PAGE 7




cash ,
on i"
to fle
to t,
a .2

$16 0


_ $131,200


- $98,400


- $65,600

_ $49,200

- $32,800


Donations to date.

Edward E. Patton Annette Rolle Antoinette Rolle Howard N.
Darville Rolden & Associates The Elodie Tomlinson Memorial
* Sidney Johnson lan & Janet Jennings Media Enterprises
Anthony & Irene Miaoylis


13a [ia itita 'JzI.ealth



R fE A L-T'Y
A',,. -t t

Health Fr Li

- HIell'S House&
Te: (242)33-4002 Fax: (242)393-4096 Namu, Bahamas

The Tribune
7 ,w'o / w


"Wte care fiJbr vu tisto kas we .m'md our m'n
Ebbie Shearer Jackson, o, Fo
orto metri?

"Growing a Healthy Church to Impact Our World"

One person can make a difference,
that person may be you.

Call today to make a donation for new Dialysis
Machines at PMH, no amount is too small.
Thelma Rolle 325-0048 or Sean D. Moore 502-2394


* CRISPY crab wontons
include garlic cream cheese
and crab-filled wontons served
with chili plum sauce.

THE newest Atlantis restau-
rant, Chop Stix, has brought an
oriental touch to the Paradise
Island resort.
Formerly called Mama Loo's,
the Chinese restaurant opened
its doors to great fanfare after
undergoing a transformation of
its menu and a major renova-
tion of the restaurant.
Peter Lahr, Atlantis' general
manager of restaurant and bar
operations, said the restaurant's
new name reflects the type of
cuisine that it serves.

* HONG Kong steak features
New York steak stir-fried with
peppers and onions in a garlic
pepper sauce.

"We wanted something con-
temporary and unique and we
thought Chop Stix was all of the
above, in that people will imme-
diately know that it's a Chinese
restaurant," said Mr Lahr.
Innovative Chinese food
infused with some Bahamian
elements is how Mr Lahr
described the Chop Stix cuisine.
Mr Lahr commended the
restaurant's new chef de cui-
sine, Dennis 'DJ' Cheek, an
expert cook who has worked
with celebrity chefs such as

* THE mixed seafood
selection features lobster,
jumbo shrimp, scallops tossed
in white wine sauce served on
a bed of pan-fried noodles.
internationally renowned Mar-
tin Yan of the popular PBS
series 'Yan Can Cook', as well
in the kitchens of well known
restaurants, including the Unit-
ed States' popular P F Chang's
China Bistro.
Atlantis' food and beverage
team is confident that the new
restaurant, managed by
Bahamian Liz Seymour, will
add a new dimension to the
resort's dining experience while
providing guests with a taste of
fine Asian-Bahamian cuisine.

* CHOP Stix's chef de cuisine, Dennis 'DJ' Cheek, at centre, displays Asian-Bahamian cuisine
featured in the new restaurant at Atlantis, From left: Dwight Sands, Rollington Sands, 'DJ',
Cowan Thompson, Michael Russell and Dantley Jolly.

0I I I


, n ,.. ..............

Atlantis eatery has

taste of the east

I _ '

PAGE 8, FRIDAY, JUNE 22, 2007


Second class graduates from Lyford Cay

FIFTEEN students became
only the second-ever graduating
class from Lyford Cay Interna-
tional School.
The students were honoured
at a graduation ceremony held at
the Sandal's Resort where Col-
lege of the Bahamas president,
Mrs Janyne Hodder, was the spe-
cial guest speaker.
Principal Dr Paul Lieblich said:
"This is a momentous occasion
for our seniors and a great accom-
plishment for the entire school.
The graduation ceremony signi-
fies the latest achievement in the
development of the school, which
has progressed extensively over
the last five years.
"We're only the second-ever
graduating class to come out of
Lyford Cay," remarked LCIS
valedictorian Georgette Stubbs.
"It's a really great honour."

Georgette, along with six other
students, is a candidate for the
prestigious International Bac-
calaureate Diploma.
Lyford Cay International
School is the only school in the
Caribbean offering the full range
of International Baccalaureate
The Graduates:
Christian BARRIOS
Is Canadian-Mexican. He has
been a student at LCIS since 2004.
He is a full IB Diploma candidate
taking: English Al, Spanish B,
mathematical studies, information
technology in a global society,
biology, chemistry, theory of
knowledge plus completing an
extended essay in ITGS.
Christian has an acceptance at
Brock University in Canada

Sandals Royal Bahamian Resort &
Offshore Island

Invite application for the position of:


University degree in Hotel Management
Must have at least 10 years as a Senior
Manager or similar position
Experience at a 4 or 5 diamond Hotel
Proficiency in several foreign languages
would be an asset
Strong communication skills oral and
Willing to work long hours
Strong organizational and leadership
Competitive compensation package
commensurate with relevant
experience and qualifications.

Send resumes: email to
cmajor(srb.sandals.com or
Fax -242-327-6961

fPiner's unera[Home
'Serice Beyond Measure

PHONE: 322-4570/ 393-1351 CELL: 357-3617

Mrs. Elsie Joanne Griffin 47

of The Current, North
Sm Eleuthera, will be held at
the Current Methodist
Church on Saturday June
23rd, 2007 at 11:00 a.m.
Burial will be in the
Public Cemetery. Dr.
Regipald W. Eldon,
Secretary to the
Conference, Rev. Carlos

D. Neilly, and Rev.
William R. Higgs

Elsie's memory will be cherished forever by her
husband, AI; daughter, Audra; son, Eric; mother,
Ivy; son-in-law, Lester; grandsons, Kristian and
DeNiro; sisters, Dianne and Janice; brothers, Reg,
Geoffrey and Gary; sisters-in-law, Lolly, Jeannie,
Irma, Carol, Madge, Barbara and Joanne; brothers-
in-law, Kingsley, Johnnie and David; godchildren,
Crystal, Halle and Kyle; nieces, Tammy, Maria,
Lynn; Heather, Dorian, Rochelle, Heather, Rachel,
Cheyenne, Tina, Kelly, Charlotte, Nicole, Alexis,
Kila, Brandi and Madison; nephews, Gary, Roger,
Ron, Jordan, Alan, Damnian, Raven, Frankie,
Alexander, Apollo, Brady, Tyler, Lorenzo, Tushar;
Evan, Brian and Christopher, special friend, Melissa;
aunts, Geraldine, Rowena, Alice, Dot, Rosalee and
Dorian; uncle, Carl and a host of other relatives and
friends especially, Gloria, Janet and Reginald Eldon,.
Osbourn and Shirley Weech, Janet Donahue, Berlene
Elden, Sue and Raymond Martin, Audrey and Steve
Symonette, Bernadette Collins, Margaret Albury,
Gayle Colebrooke, Denise Newbold, Rev. Carlos
Thompson and family, Nurse Dan and the entire
community of The Current.

In lieu of flowers donations may be made to the
Cancer Society of the Bahamas PO. Box SS-6539
in memory of Elsie Griffin.

where he will study computers
and video game design. His ambi-
tion is to pursue a career in video
Unsurprisingly, his favourite
subject at school is ITGS. He
hopes to travel the world after
he graduates and to work in dif-
ferent countries.
Is an American. She has been a
student at LCIS since 2004. She is a
full IB Diploma candidate taking:
English Al, Spanish Ab Initio,
mathematical studies, information
technology in a global society, biol-
ogy, visual arts, theory of knowl-
edge plus completing an extended
essay in English. Alexa has an
acceptance at the Pre-Veterinary
Medicine School at the University
of Miami. Her ambition is to open
an animal clinic in Nassau. Her
favourite subject was ITGS because
she says it was the easiest for her.
The best piece of advice she ever
got was "just do it and don't let
anything stand in your way."
Anastacia BETHEL
Is a Bahamian. She has been a
student at LCIS since 2003. She is
a full IB Diploma candidate tak-
ing: English Al, Spanish B, math-
ematical studies, information tech-
nology in a global society, biology,
visual arts, theory of knowledge
plus completing an extended essay
in visual arts. She has been accept-
ed at Acadia University in Cana-
da to study international banking
with foreign investments com-
bined with foreign languages
(Spanish and French).
Her ambition is to be multi-lin-
gual and use that for her career
and travel the world. Her
favourite subjects include Eng-
lish, Spanish and the visual arts;
she got a lot of care and support
from her teachers and these sub-
jects gave her the freedom to
demonstrate both creativity and
Is a Bahamian. She has been a
student at LCIS since 2003. She is
a full IB Diploma candidate tak-
ing: English Al, Spanish B, math-
ematical studies, information tech-
nology in a global society, biology.
visual arts, theory of knowledge
plus completing an extended essay
in visual arts. She has been accept-
ed at the State University of New
York Maritime where she will
study to obtain the 3rd mate's
licence in engineering. She wants
to be the best female maritime
engineer in the Bahamas and in
the future she wants to make a
mark on the international mar-
itime industry.
Addington COX
Is a Bahamian. He has been a
student at LCIS since 2000 when
he started in Grade 6. He is a IB
Certificate candidate. He took IB
examinations in: English Al,
Spanish Ab Initio, mathematical
studies, history, biology, and
chemistry. He will attend the Uni-
versity of the West Indies in Bar-
bados to study meteorology. His
dream is to be a successful per-
son and contribute in a positive
way to Bahamian society. His
.favourite subject at school was
biology because he found it very
interesting and he hopes to pursue
further courses at college in the

Card of thanks

* VALEDICTORIAN Georgette Stubbs receives her certificate
from Michelle Cove, chairman of LCIS Board and Dr Paul
Lieblich, LCIS principal
(Photo: Tim Aylen)

Is an American. He has been a
student at LCIS since 2005. He is
an IB Certificate candidate. He
took IB examinations in: English
Al, Spanish B, mathematical
studies, history, biology, and visu-
al arts. His favourite subject at
school was history both for the
fascination he has for it and the
inspiration he got from his
teacher. He has acceptance at
Ozark Technical Community Col-
lege in Missouri. Initially, he will
study general courses and then he
wants to major in drama and cre-
ative wr.iting. His ambitions
include getting a teaching degree,
start a band and become a famous
Is French. She has been a stu-
dent at LCIS since 2003. She is a
IB Certificate student. She took
IB examinations in: English B,
Spanish B, French B, and visual
arts. She is going to pursue on-
line courses to study pet grooming
and training as well as develop
her skills in graphic art by taking
additional courses. Her ambition
is to open up her own business
that specialises in pet grooming.
Is Bahamian-American. She
came to LCIS in Grade 2 in 1996!
She is an IB Certificate student.
She took IB examinations in: Eng-
lish Al, Spanish Ab Initio, biolo-
gy, mathematical studies and visu-
al arts. Her favourite subject is
art as she enjoyed it immensely
and was inspired by her great
teacher. Meaghan's plans for next
year are to take courses both in
the culinary arts in London and
New York as well as courses in
the visual arts. She hopes to run a
marathon in five years time.
Is a Bahamian. He has been a
student at LCIS since 1994 13
years! He is an IB Certificate can-
didate. He took IB examinations
in: English Al, Spanish Ab Ini-
tio, mathematical studies, histo-
ry, biology and chemistry. His
favourite subject was English for
the engaging and effective way it
was taught. Gregory has been
accepted at the University of
Tampa to study marine science
and marine zoology. His ambition
is work with marine animals and
to be close to water. He is proud
of the fact that he has kept two

oYr Jhe Jaie

Seberon "Pompi" Mackey
December 21. 1939 May 17, 2007

No more smiles and happy chimes
No more talking of times. only Flashbacks oftlie c
wonderful year,_ \%e shared,You were always there to
comlorit us through our joys and tears
We thank \ou tor contributing to our 0111 lies.
You were a lo\ ing husband, father, grandfather.
brother, uncle and friend. We will never forget you,
Pompi; Sleep on in the arms of Jesus, and take your
sweet rest until we meet again.
Special thanks to; Rev'd Dr. Keith A Russell and the
Fellowship Union Baptist Church family, Rev'd Dr.
Fred Ne\\ church and the Central Church of God
fanumly. Deacon Fred & Mrs. Ramsey, Freeport Gospel
Chapel Church family, Mount Carey Baptist Church
family, Members of Parliament, Zhivargo Laing,
Minister of State, Kenneth Russell, Minister of
Housing, Kwasi Thompson, Deputy Speaker, Senator
Pleasant Bridgewater, Senator Frederick McAlpine,
Doctors & Nurses at the Emergency and Male
Surgical ward, Rand Memorial Hospital, Management
& Staff at the Westin & Sheraton, Our Lucaya Resort,
Management & Staff at Advance Cable, Coral
Springs, Florida, Mr. & Mrs. Alex Pratt, Mr. & Mrs.
Henry Thurston, Mr. & Mrs. Nelson Knowles, Mr. C.
A. Smith & Family, Mr. & Mrs. Prince Smith &
family, Management & Staff of former Princess
Casino, Management & Staff of Oasis, The Gaming
Board, Freeport Container, Royal Bahamas Police
Force, Grand Bahama.
God Bless You All.
"Sylvia Mackey & Family"

friends, one from Korea and
another from Canada, for a long
time. To him that also represents
Jenny Sella
Is Italian. She has been at LCIS
for one year and started in
August, 2006. She already com-
pleted high school in Monaco,
France. She came to the LCIS to
improve her English linguistic
skills. Jenny is an IB certificate
student. She took IB examina-
tions in English B, French B and
Spanish B. She also took other
regular high school courses. She
plans to go to an Italian universi-
ty to pursue a course in transla-
tion. Her future plans include
working as an interpreter at the
European Union. Jenny says that
while in the Bahamas she has
learnt to be patient and enjoy the
Bahamian breakfasts!
Jonathan Shiel-Rolle
Is Bahamian. He has been a
student at LCIS since 1996. He
started in Grade 2. He is a full IB
Diploma candidate taking: Eng-
lish Al, Spanish Ab Initio, math-
ematical studies, information tech-
nology in a global society, biology,
visual arts, theory of knowledge
plus completing an extended essay
in music. Jonathan has been
accepted at Lynn University, Boca
Raton, Florida, USA. He hopes to
play soccer professionally. As he
says, "Soccer is my life."
Georgette STUBBS (Valedic-

Is Bahamian. She has been a
student at LCIS since 1994 she
started in kindergarten. She is a
full IB Diploma candidate taking:
English Al, Spanish B, mathe-
matical studies, information tech-
nology in a global society, biology,
visual arts, theory of knowledge
plus completing an extended essay
in the visual arts. Her favourite
subject at school was art. She will
be attending the University of
Western Ontario, Canada, and
will study business administration
and management studies. Her
ambitions include getting a mas-
ter's degree, continuing with her
passion for art and eventually
starting her own business.
Philipp STUBBS
Is Bahamian. He has been a
student at LCIS since January,
2001. He is an IB Certificate can-
didate. He took IB examinations
in: English Al, Spanish Ab Ini-
tio, mathematical studies, infor-
mation technology in a global
society, biology, and chemistry.
He enjoyed his English classes the
most because they were fun.
Philip plans to work and earn
some money over the coming year
and then he plans to study engi-
Is Mexican. She has been a stu-
dent at LCIS since her Grade 6 -
for the past seven years. She is a
full IB Diploma candidate taking:
English B, Spanish Al, mathe-
matical studies, history, biology,
visual arts, theory of knowledge
plus completing an extended essay
in Spanish. Her favourite subjects
included art and English because
of the passion and interest that
her teachers exhibited. Lourdes
has been accepted at Cesar Ritz
Colleges in Switzerland, which
specialises in hospitality, tourism
and management. She wants to
continue to study and be the best
person that she can be.
Is Peruvian. She has been a stu-
dent at. LCIS since 2004. She is
an IB Certificate student. She
took IB examinations in: English
B, Spanish Al, mathematical
studies and biology. Indira's
favourite subjects were Spanish
and math. She is going to pursue a
course in paralegal studies at Mia-
mi Dade College. Her ambition
is to follow a legal career.


Summer Camp for


June 23 to August 25, 2007
Saturday, 7 pm 9 pm

7 pm: Meet at Genesis Academy
(Parking available in school yard)

8 pin: Meet at Cosmos Observatory


Medical Arts Institute
Dean's Lane. Fort Charlotte
P 0 Box N-3122
Nassau, Bahamas
Ph: 323-8879, 468-5969
Email: sands.dc@gmail.com

Dowdeswell Street & Lover's Lane
P 0 Box SS-6285
Nassau, Bahamas
Ph: 322-3064
Email: genesisacademnybahamas,,4yahoo.com

Quality Auto Sales


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


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FRIDAY, JUNE 22, 2007, PAGE 9

Ab for Rheem in The Bahamas

vInvites all Contractors, Home Owners, and all interested to Our
"- ao'

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give-aways learning
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PAGE 10, FRIDAY, JUNE 21, 2007


JUNE 22, 2007

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

Issues Round- Washington McLaughlin Bill Moyers Journal (N) (CC) May to Decem- May to Decem-
WPBT table discussion. Week (N) A Group (N) (CC) ber Zoe is ex- her Alec and Zoe
(CC pecting. return.
The Insider (N) Ghost Whisperer "A Vicious Cycle" Close to Home A minister's wife NUMB3RS "One Hour" The FBI
E0 WFOR n (CC) A ghost asks Melinda to help find and secretary are suspects when he tries to find a music mogul's son,
her daughter. n (CC) is found dead. 8" (CC) who has been kidnapped. (CC)
Access Holly- 1 vs. 100 One contestant battles Las Vegas "Father of the Bride" Law & Order: Criminal Intent "Al-
* WTVJ wood (N) (CC) 100 to win $1 million. ,) (CC) Ed's CIA past puts him in grave batross" A judge is killed during the
danger. ,n (CC) recreation of a famous duel.
Deco Drive Bones Booth and Brennan investi- Standoff A polygamous cult leader News (N) (CC)
WSVN gate when a man is found dead at a holds his daughter and wives
construction site. (CC) hostage in a motor home.
Jeopardy! (N) Kyle XY "The Homecoming" Kyle National Bingo Night Contestants 20/20 (CC)
* WPLG (CC) returns to the Trager household. n play bingo for a chance to win
(CC) przes. (N)(CC)

(:00) CSI: Miami CSI: Miami "Driven" Marisol wit- CSI: Miami "Free Fall" Acouple, re- Intervention "Leslie" Alcohol or fam-
[ A&E Not Landing" ,1 nesses a robbery. A (CC) cently released from jail, is targeted ily. (N) (CC)
(CC) for death. n (CC)
Hardtalk Extra BBC News World Business BBC News Our World Balle- BBC News World Business
BBCI (Latenight). Report (Latenight). rina Darcey Bus- (Latenight). Report
T * BABY BOY (2001, Drama) Tyrese Gibson, Omar Gooding, A.J. Johnson. A man jug- Comicview (CC)
BET gles womanizing with fighting his mother's boyfriend. (CC)
C Rumours (CC) Royal Canadian Halifax Comedy Intelligence (CC) CBC News: The National (N) (CC)
Air Farce (CC) Fest (CC)
C :00) On the Fast Money 2007 Heads-Up Poker Tournament The Big Idea With Donny Deutsch
CNBC Money
(:00) The Situa- Paula Zahn Now (CC) Larry King Live (CC) Anderson Cooper 360 (CC)
CNN tion Room
Scrubs J.D. talks The Daily Show The Colbert Re- Reno 9111 (CC) Comedy Central Comedy Central Comedy Central
COM about his feel- With Jon Stew- port (CC) Presents (CC) Presents Corey Presents Megan
ings. (CC) art (CC) Holcomb. Mooney.
I COURT Cops 1 (CC) Inside "Supercops" SWAT teams. Forensic Files Forensic Files The investigators "Nowhereto
Hannah Mon- *,K SPY KIDS 3-D: GAME OVER (2003, Adventure) (:35) That's So That's So Raven Life With Derek
DISN tana (I (CC) Antonio Banderas. Premiere. A boy enters a virtual-re- Raven n (CC) Corey shoplifts. "Mice and Men"
ality game to save his sister. n 'PG' (CC) (CC) ,n (CC)
DIY This Old House Home Again DIY to the Res- Sweat Equity Sweat Equity Classic Rides Classic Car
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DW Johannes B. Kerner Rasendes Journal: Tages- Europa Aktuell Journal: In Euromaxx
DW Kabarett them Depth
Ec The Daily 10 (N) True Hollywood Story Steven & The Girls Next Door Highlights. The Soup (N) Wildest Dating 2
E! Liv Tyler" Steven and ivTyler. ______
NFL Live (Live) U.S. Poker Championship From U.S. Poker Championship From Baseball Tonight (Live)
ESPN (CC) Atlantic City, N.J. (CC) Atlantic City, N.J. (CC)
ESPNI Gol ESPN: World Rally Championship Mid- Boxing Friday Night Fights. (Live) (CC)
Fuera de Juego Season Review
Daily Mass: Our The World Over Life Is Worth The Holy Rosary Defending Life Voices on Virtue
EWTN Lady Living
(:00) Cardio National Body Challenge A family National Body Challenge "Portion Buff Brides: The Bridal Challenge
FIT TV Blast n (CC) tries to lose weight. Distortion" Losing flab. (CC)
F Fox Report- The O'Reilly Factor (Live) (CC) Hannity & Colmes (Live) (CC) On the Record With Greta Van
FOX-NC Shepard Smith __Susteren (Live) (CC)
(:00) MLB Baseball Los Angeles Dodgers at Tampa Bay Devil Rays. From Tropicana Field Around the The FSN Final
FSNF L in St. Petersburg, Fla. (Live) Track Score (Live)
GOLF 6:30) Golf PGA Professional PGA Golf Travelers Championship Second Round. From Cromwell, Conn.
GOL championship -- Second Round.
GSN Lingo (CC) Greed (CC) Dog Eat Dog 1) (CC) Chain Reaction Chain Reaction
GSN ___ (CC) (CC)
(:00) Attack of X-Play Cops "Atlanta" Cops "Atlanta" G4's Free Stuff Ninja Warrior
G4Tech the Show!(N) 1) (CC) n (CC) (N)
(:00) Walker, Walker, Texas Ranger "Forgotten STRAIGHT FROM THE HEART (2003, Romance) Teri Polo, Andrew Mc-
HALL Texas Ranger People" C.D. goes under cover as Carthy, Patricia Kalember. Romance grows between a photographer and
The Iceman" an Alzheimer's patient. a Wyoming rancher. (CC)
Buy Me "Robert Selling Houses Abroad "Portugal" House Hunters World's Most Relocation, Relocation "Dawn &
HGTV and Heidi: Back The Portuguese town of Lagoa. 1, International Ed- Extreme Homes Simon" A family home in Devon. n
to Gotham" 8) (CC) inburgh. (CC) ,) (CC) (CC)
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Reba Potential My Wife and According to According to Friends n (CC) Everybody Everybody
KTLA new neighbors Kids "Tee for Too Jim Jim tnes to Jim Jim sees an Loves Raymond Loves Raymond
upset Reba. 81 Many" (CC) party hearty. old girlfriend. (CC) Cl (CC)
Still Standing Al Reba Everyone Reba Reba is STRANDED (2006, Suspense) Erica Durance. Female friends start to dis-
LIFE embarrasses Bill. shares their feel- haunted by her appear on a Caribbean island. (CC)
Fn (CC) ings. (CC) ghosty joke. A
:00 Hardball Countdown With Keith Olber- MSNBC Investigates: Lockup: In- MSNBC Investigates Utah State
MSNB CC) mann (Live) side Folsom Prison.
The Naked The Naked * THE NAKED BROTHERS BAND (2005, Corn- Funniest Home Full House
NICK Brothers Band Brothers Band edy) Nat Wolff, Alex Wolff, Joshua Kaye. n Videos "Joey's Place"
TV :00) NUMB3RS Very Bad Men 100 Days of Freedom (CC) News (N) C News
NTV Provenance" II_________(CC)eI
NASCAR Racing Nextel Cup -- NCTS Setup NASCAR Racing Craftsman Truck Series -- Toyota Tundra Milwaukee
SPEED Toyota/SaveMar 350 Qualifying. (Live) 200. From the Milwaukee Mile in West Allis, Wis. (Live)
Rediscover the Behind the The Hal Lindsey Joel Osteen Dr. Frederick K. Praise the Lord (CC)
TBN Kingdom Scenes (CC) Report (CC) (CC) Price (CC)
Everybody * MEN IN BLACK II (2002, Comedy) (PA) Tommy * MEN IN BLACK II (2002, Comedy) (PA) Tommy
TBS Loves Raymond Lee Jones, Will Smith. Agents Jay and Kay defend Lee Jones, Will Smith. Agents Jay and Kay defend
"The Sitter" Earth from a sultry alien enemy. (CC) Earth from a sultry alien enemy. (CC)
Take Home Chef What Not to Wear: Wedding Spec- What Not to Wear "Alicia" A nurse I've Got Nothing to Wear Planning
TLC "Maryn" (CC) tacular has a wardrobe that needs emer- a wardrobe for a three-week busi-
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TNT Dead Man Dat- on a collision course with Earth. (CC) SIC PARK III
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* THE SCHOOL OF ROCK (2003, Comedy) Jack Black, Joan Cusack, Mike White. My Gym Part- Camp Lazlo
TOON Premiere. An unemployed guitarist poses as a teacher. ner's a Monkey _
Thalassa "Sous le soleil des Bal6ares" Visite des plages de I'archipel des La Fate des fauves La lutte de Littoral
TV5 Baldaires. (SC) survive des fauves.
Storm Stories Abrams & Bettes It Could Happen Full Force Na- Weather: Evening Edition (CC)
TWC (cc) Tomorrow ture (CC)
(:00) Duelo de La Fea Mas Bel- Yo Amo a Juan Destilando Amor Casos de la Vida Real: Edici6n
UNIV Pasiones la (N) Querend6n (N) Especial Zopilotes; Delito de San-
(:00) Law & Or- Law & Order: Special Victims Unit ** THE PACIFIER (2005, Comedy) Vin Diesel, Lauren Graham, Faith
USA der: Criminal In- "Risk" Detectives link deadly baby Ford. Premiere. A Navy SEAL becomes the guardian of five siblings. (CC)
tent C (CC) food to drug smuggling. Cl
V 1 (:00) 40 Greatest Reality Show Moments C Best Week Ever Fabulous Life 20 Skinniest Celebs n
VH1 (N) n Of... n
VS. (:00) 2007 NHL Entry Draft From Columbus, Ohio. (Live) Elk Country Fly Fishing the
VS. Journal World
(:00) America's * PLAYING BY HEART (1998, Drama) Gillian Anderson, Angelina WGN News at Nine (N) C (CC)
WG N Funniest Home Jolie, Madeleine Stowe. Various denizens of Los Angeles look to find and
Videos C (CC) keep love. C (CC)
Everybody WWE Friday Night SmackDown! (N) C (CC) CW11 News at Ten With Kaity
WPIX Loves Raymond Tong, Jim Watkins (N) (CC)
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Jeopardy! (N) Dr. Phil Settling disputes. C (CC) News (N) Jeopardy! (CC) Frasier A New Frasier Lilith and
WSBK (CC) Year's Eve trip Frasier go on a
'lh r ll __ goes awry. (CC) blind date.

B(E:45) Evan *** A HISTORY OF VIOLENCE (2005, Drama) (:45) License to Entourage Entourage Billy
HBO-E Almighty: HBO Viggo Mortensen, Maria Bello. Vicious criminals harass Wed: HBO First "Adios Amigos" and Eric clash on
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(4:30) **'A EM- * RUNNING SCARED (2006, Crime Drama) Paul Walker, Cameron * K THE MATRIX REVOLU-
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(2005) l (CC) Keanu Reeves. C 'R' (CC)

(6:30) *i BIG (:15) REAL Sports With Bryant (:15) DATE MOVIE (2006, Romance-Comedy) (:45) Evan
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______ burglar on Dec. 31, 1999. C 'PG-13' (CC) strategy. n (CC) n 'R' (CC)
(6:00 )*** *KINDERGARTEN COP (1990, Comedy) Arnold Schwarzenegger, * WAR OF THE WORLDS
MAX-E EVER AFTER Penelope Ann Miller, Pamela Reed. A two-fisted L.A. cop poses as a (2005, Science Fiction) Tom Cruise.
(1998) 'PG-13' kindergarten teacher. C 'PG-13' (CC) n 'PG-13' (CC)
(:20) * FINAL DESTINATION 3 (2006) Mary Eliza- * *SUPERMAN RETURNS (2006, Adventure) Brandon Routh, Kate
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ble roller-coaster accident. 'R'(CC) 'PG-13' (CC)
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SHOW Cage, Jared Leto. iTV. A relentless Interpo agent The Brogans ar- 1st (iTV) "A (2006, Comedy) Voices of Jim J.
tracks an arms dealer. Cl 'R' (CC) rive. (CC) Mighty Heart." Bullock. TV. 'NR'

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_ _






model for


NHI scheme

'is in decay'
FROM page one

from, Canada's was the wrong
Continuing with the plan as
recommended by the Blue
Ribbon Commission (BRC)
will have far reaching detri-
mental effects on our wealth
and health, he claimed.
Canadians, according to reli-
able indicators, are not "get-
ting what they paid for," said
the economist, and neither
would the Bahamas.
Considering the high cost of
the Canadian scheme com-
pared to those in other
nations, it is notable for its
"mediocre" health services
access, outcomes, and increas-
ing waiting lists.
The economist, who said he
had "read fearfully" the
BRC's report, produced sets of-
comparative data from inter-
national organizations evi-
dencing Canada's poor perfor-
mance on the global stage.
In all of its provinces,
healthcare expenditure over-
took total revenue between
1997 and 2005, and access was
greatly varied, noted Dr Walk-
er. Ultimately, unsavoury pos-
sibilities such as further reduc-
tions in access to healthcare,
worsening quality of care or
increased taxes would be the
only means of avoiding a black
hole of debt from spiraling
costs under the present system,
he said.
Despite the huge amount of
funds expended, Canada
ranked worst for the likeli-
hood of a patient being able to
see a doctor on the same or
following day.
"Actual versus reasonable"
waiting times that is, the
amount of time Canadian's
have to wait to see a specialist,
in contrast to the amount of
time they can reasonably do so
without their health being
impinged upon, have become
increasingly disparate, he said.
It ranks 24 out of 28 interna-
tionally for access to physi-
cians, 13 out of 24 for access to
MRI, 17 out of 28 for access to
CT scans, and 18 out of a pos-
sible 20 for access to liphotrip-
tors. Considering its costliness,
indicators including infant
mortality, death from disease
and breast cancer mortality
rates leave much to be desired.
Significantly, said Dr Walk-
er, Canada holds the unique
position of being the only
OECD country with exclusive-
ly public sector funded health-
care, "effectively outlawing
parallel private healthcare."
It is the lack of this competi-
tive element, which the BRC's
report proposes to copy, that
has primarily contributed to
the failings of Canada's sys-
The economist pointed to
the fact that the Supreme
Court of Canada recently
ruled that this aspect of the
system which bars people
from paying privately for
healthcare procedures covered
under Medicare is in fact
unconstitutional given that the
public system has failed to
guarantee patients access to
those services in a timely man-
He expressed surprise the
BRC's report made no men-
tion of any of the numerous
studies evidencing the failings
of the Canadian system, and
questioned whether they had
reviewed the data available.
Several suggestions were
made as to what a less haz-
ardous Bahamian NHI scheme
could look like. Generally,
these involved leaving out cer-
tain problematic provisions
seen in Canada, and bringing
in elements found in less costly
European and Australian
healthcare models, including
user fees, co-payments and
parallel private healthcare.
The economist said of the

commission: "I think they just
don't realise what they're
proposing," adding that the
Bahamian public need to be
aware of the proposed model's
Deteriorating policy has
plagued the Bahamas since the
1970s, said Dr Walker.
The decline in "policy quali-
ty", which the implementation
of the NHI scheme as suggest-
ed by the BRC would be
another example, is showing
up in lower average incomes
and lower growth rates.
A meeting was scheduled to
take place between Dr Walker
and newly appointed health
Minister, Dr Health Minnis
yesterday afternoon.

F paeI I g one

PRIME MINISTER Hubert Ingraham arrives back in the Bahamas yesterday, flanked by Cabinet ministers Carl Bethel (left)
and Tommy Turnquest (right)
(BIS Photo: Tim Aylen)

FROM page one

trate Bethel yesterday
accused of abetment to
Armbrister's murder.
According to court dock-
ets, on June 12 he is
accused of aiding and
abetting in the commit-
ment of Armbrister's mur-
der. He was not required
to enter a plea to the
charge. Both men were
represented yesterday by
lawyer Carlson Shurland
from Freeport.

Pair in court
Police reportedly
arrested both men on
Monday at an apartment
complex in Freeport.
They were also charged
yesterday with possession
of eight grams of marijua-
na. Court dockets claim
that the men were found
in possession of the drugs
on Monday, June 18, while
at Grand Bahama.
They both pleaded not
guilty to the charge. The

case was adjourned to
November 8.
Mr Shurland first made
a request to the court for
witness statements
and other relevant docu-
He then inquired
whether the murder case
could proceed by volun-
tary bill of indictment,
meaning that the case
would go directly to the
Supreme Court.
June 28 is the date which
has been set for a report

Gas price rises to $4.87 a gallon

FROM page one

price of oil from the Bahamas' main provider.
"It would be wrong of me to stand here as the
Minister and predict the pricing of petroleum
products, because I do not know what they will
be in the foreseeable future. 1 price it based
upon the imported price at the time, and it is
dependent on the inventories held locally, when
relief will be seen by the Bahamian public." he
However, some relief may be in sight for the
future, as Mr Neymour explained, because once
the current inventories of Shell, Esso, and Tex-

aco are exhausted, a new price will come into
effect. Whether that price is higher, or lower, is
still to be seen.
External events, such as the continued conflict
in Nigeria, Iran's uranium enrichment pro-
gramme, and anti-American comments from
Venezuelan President Hugo Chavez continue to
worry analysts over the future prices of oil.
Yesterday, the market saw a drop in the price
of oil despite the concern over a general strike
in Nigeria that prompted concern that oil mar-
kets might see an upset or possible disruption to
supplies from one of the world's top oil



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from the prosecution on
that matter. Both men
were remanded to Her
Majesty's Prison.

co City, Blue Hills and Pincwood.
The party is protesting primal
ily on the basis that large Inum-
bers of non-citizens may have vot-
ed, while Bahamians, who were
eligible to vote, were unfairly
barred from the polls.
Philip Davis. Damian Gomc/
and Wayne Munroe head th.
PLP's legal team in the chal-


FROM page one

landmark ruling in March
2006 against the Bahama's
mandatory death penalty,
those who were previously
sentenced to death are being
re-sentenced. Earlier this
week the definition of the
term "life imprisonment" as
it relates to Bahamian law
was called into question
when lawyers representing
murder convict Forrester
Bowe who had his death-
sentence commuted last
year, appeared in the Court
of Appeal.

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PAGE 12, FRIDAY, JUNE 22, 2007



Your look at what's going on in your community

Santander celebrates

its 150th anniversary

M STAFF of Santander Bank and Trust at the reception

E A PERFORMANCE at the cultural reception

TAKING advantage of the
visit to Nassau of Rodrigo
Echenique, corporate director
of Santander and member of
the executive committee and
Jose Manuel Maceda, general
manager of Santander Private
Banking, Santander Bank and
Trust held a cultural reception
to celebrate Santander's 150th
The event, held at the Nation-
al Art Gallery, was attended by
Zhivargo Laing, Minister of
State in the Ministry of Finance,
Wendy Craig, governor of the
. Central Bank of the Bahamas,
Michael Foot, inspector of
banks and trust companies,
Wendy Warren, CEO and exec-
".utive director of the Bahamas
Financial Services Board along
with other dignitaries, manage-
ment and staff of the bank.
The Bahamas National Youth
Choir performed a medley of
songs and received a standing
Jose Gonzalez de Castejon,
managing director of Santander
Bank and Trust Ltd, welcomed
He then introduced Rodrigo
Echenique, director and mem-
ber of the executive committee
of Banco Santander Central
Hispano, SA, and Jose Manuel
Maceda, general manager of
Santander Private Banking.
Mr Maceda highlighted the
importance of the 150th

. anniversary of Santander and
gave a brief history of the bank
and its recent performance.
As part of the celebrations,
an employee exchange pro-
gramme has been initiated
enabling an employee from
each country where the bank
has a presence will be assigned
to another location where he
will be exposed to a new cul-
ture and experience.
Mr Marc Robinson has been
selected to represent Santander
Bahamas and will spend 30 days
at the bank's offices at San-
tander City in Madrid, Spain.
Mr Maceda said Santander has
the greatest number of branches
in the world, numbering 10,800
with over 130,000 employees.
He told local employees that,
as part of the 150th anniversary
celebrations, Santander planned
to give every employee world-
wide a gift of shares in Banco
This gift would be ratified at
the general meeting of share-
holders in mid-June, 2007.
Mr Laing congratulated San-
tander on its anniversary, cele-
brating its presence in the coun-
try and reaffirming the govern-
ment's commitment to the
financial services sector.
Guests and staff were then
invited to tour the Bahamas
National Art Gallery and enjoy
a cocktail party on the Gallery's

* MICHAEL Foot, Inspector of Banks and Trust Companies,
and Pablo Rodriguez Muller, vice-president and legal and
compliance manager, touring the Art Gallery

* FROM left: Rodrigo Echenique, Zhivargo Laing, Jose
Gonzalez de Castejon, Wendy Craigg, Wendy Warren and Jose
Manuel Maceda.

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'0 S

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

Brain drain

profound' i

'even more

f NHI created

* Economist warns PLP's proposed 5.3% contribution rate would have become 'the most significant tax you will pay in the Bahamas'
* Questions whether Bahamian economy could have supported PLP scheme, as per capital income growth and economy 'stagnating'
Bahamian policymaking 'deteriorating' and 'going in the wrong direction'

Tribune Business Editor
The former PLP
government's pro-
posed National
Health Insurance
(NHI) plan would
have made the 'brain drain' of
the most talented, highly-edu-
cated Bahamians "even more
profound", a leading healthcare
specialist warned yesterday. He
said the scheme's 5.3 per cent
contribution rate would have
acted as an income tax and pro-

vided a disincentive for the
Bahamas' attempts to attract
human capital.
Dr Michael Walker, a fellow
of the Canada-based Fraser
Institute, and a healthcare eco-
nomics specialist, warned that
the global competition for
human and financial capital
resources was intense, and that
both these factors of produc-
tion gravitated to areas where
taxation was relatively low.
He explained that if the
Bahamas imposed too heavy a
tax burden through the pro-

posed NHI scheme, in its efforts
to solve healthcare access and
funding issues through income
redistribution, the most highly-
educated Bahamians already
restricted by the lack of job
diversity in this nation were.
likely to remain overseas after
Dr Walker warned that the
PLP's proposed NHI scheme,
which planned to split the 5.3
per cent contribution evenly
between employer and salaried
worker, meaning each paid a
sum equivalent to 2.65 per cent

of the employee's salary, was
likely "to produce short-term
gains at the expense of long-
term losses".
The long-term loss, he
explained, would be to under-
mine the Bahamas' long-term
economic competitiveness and
growth, especially if contribu-
tion rates increased to meet the
increased cost of healthcare and
demand from an ageing popu-
"It will become the most sig-
nificant tax you will pay in the
Bahamas, and make it more dif-

ficult for you to attract human
capital,". Dr Walker said.
He added that young
Bahamians did not have to
remain in this nation to seek a
living, and were "not getting the
kind of opportunities they
should get in the Bahamas"
anyway. The imposition of the
NHI's income tax would act as a
further disincentive for them to
return home after graduating,
depriving the Bahamas of its
brightest and best.
"This kind of tax will make
that exodus even more pro-

found," Dr Walker warned. As
a result, the Bahamas had to be
"very careful" about the policy
choices it made in regard to
healthcare, because financing
this area could end up domi-
nating budgets and public poli-
cy, especially if the contribution
rates rose.
It is unclear what the new
FNM administration's position
is on the former government's
NHI scheme is, given that it has

SEE page 2

Cruise ship loss

shows need for

downtown revamp

Tribune Business Reporter
THE recent decision by Royal Caribbean Cruise lines to
redeploy three of its vessels to other destinations is a further
indication of the immediate need for the transformation of
downtown Nassau and Prince George's Wharf, the Nassau
Tourism and Development Board's (NTDB) chairman said
Charles Klonaris told Tribune Business that there was no
question that much had to be done to ensure there was a
quality environment for tourists and cruise passengers in
downtown Nassau.
He added that in particular, Nassau's current port facilities
had to be expanded if the Bahamas was to attract a viable
number of cruise passengers into Nassau.
Royal Caribbean removed the Bahamas from its itinerary
because it had decided to replace the three vessels with the
larger Freedom of the Seas and Liberty of the Seas ships
from the new Freedom class.
Yet due to their greater size, these ships are unable to nav-
igate in Nassau and other Bahamian harbours.
According to the Ministry of Tourism the Voyager of the
Seas accounted for 1.4 per cent of total cruise visitors; the Nav-
igator of the Seas 2.8 per cent; and the Explorer of the Seas 1.5
per cent.
The Bahamas will therefore lose 5.7 per cent of its total per
annum cruise passenger visitors, representing some 166,756
tourists and $9.338 million in
visitor spending based on
2005 figures, when Royal SEE page 6

'Sinister' NHI plan

would eliminate

private health care

Tribune Business Editor
THE "most sinister" part of
the former PLP's proposed
National Health Insurance
(NHI) plan was that it paved
the way for eliminating private
healthcare provision in the
Bahamas, a leading healthcare
economist warned yesterday,
describing the scheme as a
"Trojan Horse" that was based
on the "mythology" that it
could provide comprehensive,
equal healthcare for all.
In a presentation to a seminar
organised by the Nassau Insti-
tute and Atlas Economic
Research Foundation, Dr
Michael Walker, a fellow at the
Canada-based Fraser Institute,
expressed surprise that while
the former government's NHI
scheme appeared to be based
on the Canadian healthcare
model, there were no references
to the numerous critical stud-
ies on that country's weakness-
es in the report submitted to
the Government by its Blue
Ribbon Commission. That
report provided the foundation
for the PLP's NHI scheme.

Dr Walker said there had
been "not one peep, not one
toddle, not one mention in the
report" by the Blue Ribbon
Commission of the deep-rooted
problems the Canadian health-
care model was now experienc-
Criticising the former admin-
istration's promises of compre-
hensive, universal healthcare
for all as being untenable, Dr
Walker told the seminar: "You
cannot afford in the Bahamas,
Canada or anywhere else to say
that everyone will get the same
quality of healthcare that will
be universally applied, and with-
out any limitations. You can't
do it."
Adding that hard choices had
to be made in regard to a coun-
try's healthcare policies, Dr
Walker added: "The pretence
that is laid out in the Blue Rib-
bon Commisson's report is that
we could give this universal cov-
erage to everyone. It is a
The Commission's recom-
mendation that the NHI plan

SEE page 9

Customs urged to crack down

on Freeport bond goods 'fraud'

, Tribune Business Editor
THE Grand Bahama Chamber of Com-
merce's president yesterday urged the Cus-
toms Department to go after the small
minority of Grand Bahama Port Authority
(GBPA) licencees that abused Freeport's
bonded goods system, rather than seek to
implement "blanket" policy changesthat
have no foundation in law and only disrupt
legitimate business.
Speaking in the wake of the Home Cen-
tre's legal victory over the Customs Depart-
ment, which prevented the latter from
demanding that the Freeport-based retailer
and wholesaler pay $738,644 in duties up-
front on its inventory, Christopher Lowe
urged the government agency to go after
real offenders rather than arbitrarily change
and implement policies that ran afoul of
the courts and the Hawksbill Creek Agree-

"Theie is fraudulent use of the bonded
system by a small minority of unscrupulous
licensees, there is no question," Mr Lowe
told The Tribune. "But the Customs Man-
agement Act gives Customs the powers to
pursue fraud where fraud exists.
"They love these blanket policies and
not having to point fingers. But none of
this is provided for in law.
"They have the power to to go after fraud
and prosecute it, but to my knowledge
they've never prosecuted anyone for fraud
with respect to the bond."
Mr Lowe added: "That there is fraud
occurring with the bond, and with respect to
bonded goods ending up outside Freeport in
places like Nassau, there is no question.
But the Customs Management Act pro-
vides the meat where Customs can go after
the perpetrator."
The Customs Department suffered its
latest defeat in relation to the Hawksbill
Creek Agreement and bonded goods at the

hands of the Home Centre, a subisdiary of
BISX-listed Freeport Concrete, via the
Supreme Court verdict.
The company had been forced to obtain
an injunction against Customs to prevent
it prohibiting or interfering with the new
Home Centre superstore's opening, and
the display of bonded goods (products
that are duty exempt) at 'retail' the issue
at the very heart of the case.
The Customs Department objected to
this arrangement, saying that because
these bonded goods were on display at
retail and in view of the public, they could
no longer be classified as duty-exempt
stock. As a pre-condition for the Home
Centre opening, the Customs Department
demanded the $738,644 duty payment and
allegedly locked up some of the store's
containers, refusing to inspect and clear

SEE page 9

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PAGE 2B. FRIDAY. JUNE 22, 2007

Finding the market for your e-business

W whether you are
selling a product
or service, your
marketing plan
will be crucial to the success of
your eBusiness. Without an
effective marketing plan you
won't be able to successfully
promote your product. It's no
good having the best mousetrap
if no one is using it.
Your plan will look very sim-
ilar to a traditional offline plan,
as outlined in a previous col-
umn. Copy the format for your
eBusiness. It will, however, be
different in two ways:
First, the scope will be differ-
ent. The plan will be concerned
with getting quality traffic to
your site, so that you can either
build a list capturing your visi-
tor's name and e-mail, or better
still, getting them to purchase
a product through a back-end
or front-end offer.
Second, the execution will be
different. It will cover three
areas instead of the one for
bricks and mortar businesses.
The first area is the same and
concerns your Offline Activi-
ties. Use traditional means of
promoting your website offline
though advertising, public rela-
tions, direct marketing and sales
promotion. These should be
familiar to you if you have fol-
lowed my previous columns on
The second area concerns
Traffic Building Activities.
There are many ways that you
can build quality traffic to your
website, and these are dealt

with in a future column.
The third area concerns Traf-
fic Conversion Activities. There
are many ways in which you can
convert that traffic into prof-
itable business, and these are
dealt with in a future column.
Ultimately, your marketing
plan will seek to answer three
1. Where are you now?
2. Where do you want to go?
3. How are you going to get
In trying to answer those
three questions, you will need to
incorporate the following five
processes when you create your
marketing plan, if you want
your marketing plan to b6 of
any use to you.
The first process is Disci-
plined Research. You will need
to research and analyse your
product or service to see what
use it is to your customers. You
will need to analyse the price
to make sure you can make a
profit on every sale. You will
need to research your market
to make sure there is enough
business for you. You will need
to research your customer to
know who they are and why
they want 4t buy. And you will
need to research your promo-
tional tools to get the best bang
for your buck.
The second process is Effec-
tive Strategy. Your plan should
be strategic and should also out-
line the steps you are going to
take to execute that strategy. It

j Business
. .. Sense

should mirror your company's
strategic goals outlined in your
business plan. It should distil
what is and isn't working, and it
should consider your compa-
ny's capacity and resources to
meet its objectives.
The third process is Effective
Budgeting. Make sure you
apply financial figures to your
marketing plan: Otherwise it
will just be a dream. .
The fourth process is Effec-
tive Benchmarking. Your plan
should ultimately be measur-
able, with benchmarks, other-
wise you won't know whether
you have been successful or not.
Make sure you set smart tar-
gets that are capable of being
The final process is to have
Clear Timelines For Execution.
Without clear timelines, your
plan will just flounder on the
sea without a compass. Make
sure you monitor timelines.
Once you have thought
through the above exercises,
you will be ready to write down
your eMarketing Plan. Nothing
exposes a bad idea better than
writing it down, so make sure
you do it soon. Jay Conrad
Levinson, a guerilla marketing
specialist, gives 12 tips for the
perfect eMarketing plan.

Tip 1: Show Commitment -
Commitment with a mediocre
plan will always be superior to
lack of commitment with a
superior plan.
Tip 2: Make An Investment -
See marketing as an investment,
not an expense.
Tip 3: Be Consistent Don't
keep changing your marketing,
the media, or your identity, as
this will make it harder for
people to trust you.
Tip 4: Inspire Confidence -
Confidence is the number one'
reason why people buy.
Tip 5: Be Patient All good
things take time to come to
Tip 6: Use An Assortment -
Try and use a combination of
marketing tools from the wide
array at your disposal to woo
your customers.
Tip 7: Be Convenient- Time
is money, so make it easy for
customers to buy from your
Tip 8: Subsequent Market-
ing Marketing starts when
you make a sale, so encourage
your visitors to make repeat
Tip 9: Create Amazement -
Make sure your plan highlights
all the amazing benefits that
your company offers.

Tip 10: Measurement -
Unless you measure your mar-
keting efforts, you won't know
what works and what doesn't.
Tip 11: Involvement Make
sure you respond quickly to
your customers.
Tip 12: Be Dependent -
Cooperate with other business-
es by building partnerships that
benefit both parties.
eMarketing is a relatively new
discipline, and there is much to
learn. Start by using a tradi-
tional marketing plan template
and expand the scope as
described above. Don't be an
antipreneur. Make sure that you

spend sufficient time on this .-
area, as it will pay large divi- -
dends for your future business

NB: This column is available'
as an eBook at
Mark draws on 20 years of top -
level business, marketing and
communications experience in
London and the Bahamas. He is
chief operating officer of
www.ezpzemail.com, currently
lives in Nassau, and can be con-
tacted at
Mark Palmer. All rights

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Brain drain 'even

more profound'

if NHI created

FROM page 1 not made a definitive state-
ment on the issue.
It is thought likely that the
FNM will move away from
the PLP's so-called universal, comprehensive NHI plan to
focus, initially at least, on catastrophic health insurance (it was
working on this in 2001-2002 when the former Ingraham
government demitted office) and educating the public on
health and safety issues. Only when this has been accom-
plished will they look at broadening the benefits down the
Yet Dr Walker yesterday questioned whether the Bahamas
was on a sound enough economic footing to support the
launch of the proposed PLP NHI scheme, pointing out that to
sustain such a scheme financial, the economy and per capi-
ta income needed to be growing.
This, he suggested, was not the case. Dr Walker said that
between 1970-1985, average per capital income in the Bahamas
grew at a rate of 1.27 per cent. Yet between 1985-2000, this
growth rate fell to an average of 0.06 per cent, indicating
that per capital income rises had become stagnant.
"This is something you should be concerned about," Dr
Walker said. "When countries look at allocating more
resources to areas such as healthcare and education for your
population, you can't afford it unless you have economic
Lower economic growth and per capital income rates were
bad news for the Bahamas, Dr Walker suggested, as nations
who were relatively less wealthy also tended to start seeing
deteriorations in general health, given the correlation between
wealth and health spending.
Dr Walker said the Fraser Institute's annual survey of eco-
nomic freedom, assessing 94 per cent of the world's countries
and governments on 38 different policy measures, showed pol-
icymaking in the Bahamas had been headed "in the wrong
direction" since 1975.
In 1975, Dr Walker said, the Bahamas was ranked among
the top 20 countries in the world when it came to economic
policymaking, standing alongside the likes of the US, Cana-
da, Hong Kong, Singapore and Iceland, but ever since "pol-
icy deteriorated".
"Mostly, it's in the wrong direction. Policy is going in the
wrong direction, and that's a bad [sign] for the future," he
Countries that made bad public polict decisions had lower
levels of economic growth, per capital income and human
development, higher infant mortality and lower life expectan-
cy, Dr Walker said.
"The quality of policy really matters, and really matters for
the Bahamas," he added. Dr Walker said that in 1970, the
Bahamas ranked in the world's top 20 when it came to real
per capital income, but today had fallen to around 30th posi-
"This is not a trend you want to feel comfortable about," Dr
Walker said. "This is a trend that sets off alarm bells, as you
do not want to fall behind the rest of the world.".
Dr Walker said the Bahamas still ranked in the top 20 for
size of government, even though this was becoming more
uncompetitive, and was rated highly on regulation.
"Where the Bahamas has really shone is in the protection
of property rights and the rule of law. The Bahamas is an
example to other countries on how over a period of time it has
implemented the law and property rights," Dr Walker said.
Where the Bahamas did not score well was on exchange
controls, which limited the free movement of capital, and
its high tariff and customs duties barriers on trade.
"Trade is where you get very bad marks. That's a real
issue for your country going forward," Dr Walker said.





DIhe 1iiami Heralb A FRIDAY, JUNE 22, 2007




S&P 500 1,522.19 +9.35 Investorsdealt setback in fraud cases
NASDAQ 2,616.96 +17.00 A
BY PETE YOST cases already meet the standard the engaging in a scheme to inflate Tel- deceptive.
10-YR NOTE 5.20 +.06 A Associated Press court adopted. labs' stock price from December The justices sent the case ba
CRUDE OIL 68.65 -.21 V WASHINGTON Investors who And investors "can breathe a sigh 2000 to June 2001, according to the that the lower courts can a:
hRUDEOI 68.6 U- L 1 ti h1 t iJLi rl Uid 101 it whether the lawsuit should sta



on oil,



Associated Press
lurched higher after a back-and-
forth session Thursday as inves-
tors apparently set aside some
interest rate concerns and took
a dose of upbeat economic data
at face value.
The Philadelphia Federal
Reserve said regional manufac-
turing in June has had its stron-
gest growth since April 2005.
The bank's index of regional
manufacturing activity jumped
to 18 from 4.2 in May. But the
report had little effect on the
market although investors have
been wary about any signs of
economic strength that might
lead the Federal Reserve to
raise interest rates when its
Open Market Committee meets
next week.
Investors, looking for a rea-
son to buy back into the market,
briefly pushed away their rate'
concerns, even though the yield'
on the benchmark 10-year Trea-
sury rose to 5.20 percent from
5.15 late Wednesday.
Oil, which had advanced
amid concerns about a general
* *, strike in Nigeria, Africa's largest
crude oil producer, reversed
course Thursday. Light, sweet
crude fell 21 cents'to $68.65 per
barrel on the New York Mer-
cantile Exchange after nearing
$70 early Thursday.
The Dow Jones industrial
average rose 56.42, or 0.42 per-
cent, to 13,545.84 after dropping
146 points Wednesday.
Broader stock indicators also
rose. The Standard & Poor's 500
index rose 9.35, or 0.62 percent,
to 1,522.19 and the Nasdaq com-
posite index advanced 17.00, or
0.65 percent, to 2,616.96.
The dollar was mixed against
other major currencies, while
gold prices fell.
Recent weeks have proven
relatively volatile on Wall
Street after months-long peri-
ods of generally steady
advances. Comments this
month from Fed Chairman Ben
Bernanke and inflation con-
cerns furthered the notion that
'the central bank wasn't likely to
cut interest rates this year as
some observers had predicted
and could possibly even raise
Also Thursday, the American
Stock Exchange resumed trad-
ing of stocks and exchange
traded funds in the afternoon
after the exchange resolved
technical problems that had
forced it to halt trading earlier
in the day.
Andersons, an ethanol and
grain producer, rose $5.10, or 13
percent, to $45.50 after the com-
pany raised its full-year profit
forecast following a strong sec-
ond-quarter performance from
its agricultural businesses. The
company also began producing
ethanol from a second plant and
has seen better-than-expected
Advancing issues outpaced
decliners by about 9 to 7 on the
NYSE, where consolidated vol-
ume came to 3.10 billion shares,
down from 3.22 billion Wednes-
The Russell 2000 index of
smaller companies rose 3.63, or
0.43 percent, to 839.81,
Overseas, Japan's Nikkei
stock average closed up
0.16 percent. Britain's FTSE100
fell 0.80 percent, Germany's
DAX index fell 1.55 percent, and
France's CAC-40 lost 1.04 per-

aireaay naa lost money on their
stocks lost again at the Supreme
Court Thursday when the justices
imposed a strict standard for share-
holders suing companies accused of
The 8-1 opinion written by Justice
Ruth Bader Ginsburg makes it easier
for companies and business execu-
tives to seek dismissal of investor
lawsuits at the very start of a case.
A lawsuit will proceed only if the
facts alleged in it are "cogent and
compelling" in pointing to an intent
to deceive investors, Ginsburg wrote.
Those factual allegations must be at
least as compelling as "any opposing
inference" suggesting innocence, she
Plaintiffs attorneys said almost all

of reller lalt LtI JUstLlcs Uc notUL
embrace A more stringent rule
favored by Justices Antonin Scalia
and Samuel Alito in a concurring
opinion, said attorney Barbara J. Hart,
who represents institutional inves-
tors in major securities fraud cases.
Class-action lawsuits against pub-
lic companies have helped sharehold-
ers recover billions of dollars follow-
ing the wave of corporate scandals.
The corporate world is pushing regu-
lators to roll back some safeguards
put in place following those scandals,
which brought down companies such
as Enron and WorldCom.
Thursday's ruling came in a share-
holders suit against high-tech com-
pany Tellabs.
The firm misled investors by

It said the company's CEO pro-
vided false assurances of robust
demand for the company's products.
The business community says the
Tellabs case is the kind of meritless
investors' claim that Congress
intended to prohibit when it changed
securities law 12 years ago.
Under the 1995 changes, a securi-
ties fraud complaint must allege facts
giving rise to a "strong inference"
that defendants acted with an intent
to deceive investors.
The 7th U.S. Circuit Court of
Appeals had ruled against Tellabs,
saying the complaint should go for-
ward if a reasonable person could
infer from the allegations that defen-
dants' conduct was intentionally


I -
UNIVERSAL INFLUENCE: A pair of stiltwalkers dressed in ancient Egyptian costumes entertain tourists
at Universal Studios Florida theme park in Orlando, Fla., which is controlled by Blackstone Group.
Blackstone announced Thursday the price of its IPO, making it one of the largest in U.S. history.

Blackstone IPO stirs

demand, raises $4B

Associated Press
NEW YORK Blackstope
Group on Thursday raised $4.13 bil-
lion in the biggest U.S. initial public
offering in five years, a sign of the
growing power of private equity
firms in global finance.
The New York-based buyout
shop, which controls names like
Universal Studios Florida and real
estate powerhouse Equity Office
Properties Trust, will list on the
New York Stock Exchange on Fri-
day morning. The sale values each
share at $31 and the entire firm at
around $33 billion.
For Blackstone's founders -
who launched the private equity
firm in 1985 with a $400,000 invest-
ment the IPO will mean a big
payout. Chief Executive Stephen
Schwarzman will walk away with a
stake in the company worth about
$7.7 billion, putting him among the
richest of the rich on Wall Street.
"Blackstone is like any dominant
player in a maturing industry, they
are successful because they have a
great management team," said
Peter Shabecoff, founding partner
of Stamford, Conn.-based private
equity firm Atlantic Street Capital
Management. "And now they have
the scope and brand name to be
successful, and that's what people
are buying into."
The big appeal of the IPO was
that it gave investors a chance to
participate in the booming private
equity industry, where firms buy
companies, turn them around, and
seek to sell them at a profit. And
investor appetite was strong to buy
a part of Blackstone, even though
the stake in its management busi-
ness has little voting power or any
direct connection to its portfolio of

t '- .I .-

_- "- ,,

_ ,- "_" .

OWNED BY BLACKSTONE: Workers put the finishing touches on a
reproduction of the Luxor Hotel at Legoland in Carlsbad, Calif.

The strength of the sale was
despite a last-minute attempt by
two powerful members of Con-
gress to have securities regulators
block the deal.
Analysts had been monitoring
the IPO's pricing throughout
Thursday, which was said to be
many times oversubscribed. There
was some speculation that the
interest from investors around the
globe would cause Blackstone to
raise the price beyond its original
range of $29 to $31.
However, the underwriters on
the deal might have been cautious
about the IPO amid growing scru-
tiny on Capitol Hill. The deal was
criticized for the huge payout it will
provide top executives, leading to
attempts by lawmakers to change
the tax status of Blackstone and
similar firms.
The firm acknowledged Thurs-
day that it could face much higher
taxes as early as next year if it was
taxed as a corporation, as a new bill

in the U.S. House of Representa-
tives proposes to do.
Meanwhile, Reps. Dennis Kucin-
ich of Ohio and Henry Waxman of
California asked the Securities and
Exchange Commission late Thurs-
day to delay the offering, though
their requests apparently went
Blackstone reaffirmed in a regu-
latory filing Thursday that taxing
the firm as a financial company at a
35 percent rate would cause its
earnings to falter. The buyout shop,
like other partnerships, is taxed at a
15 percent rate.
That came on top of a previous
warning from Blackstone that com-
pensation and other costs related to
going public would cause it to not
be profitable for years.
But, analysts contend investing
in the IPO has more to do with buy-
ing into Blackstone's cache espe-
cially as rivals like Kohlberg Kravis
Roberts & Co. and Carlyle Group
are considering flotations.

ck so

The way the court of appeals ruled
in the Tellabs case "is the way law-
yers have been looking at complaints
for 50 years, and that's to give all
plausible inferences to the plaintiff
and virtually never to dismiss a com-
plaint," said Washington attorney
Carter Phillips.
"What the Supreme Court has
done now is made it clear that most
securities claims ought not withstand
a motion to dismiss," said Phillips,
who represented Tellabs in the
Supreme Court case.
That view is "ridiculous,"
responded Hart, the plaintiffs attor-
ney. "The defense bar is totally over-
stating the ramifications of this deci-
sion," said Hart.




talks fail


Associated Press
POTSDAM, Germany A crucial
meeting of the World Trade Organi-
zation's four most powerful members
has failed, officials said Thursday,
dealing a major setback to efforts at
reaching., a ,new global commerce ....
: pact. . .;
It ; was useless to continue the dis-
; issi6ns based on the numbers that
were on the table," Brazilian Foreign
Minister Celso Amorim said after the
talks ended two days ahead of sched-
Brazil and India criticized the
United States for its failure to offer
deep enough cuts in the billions of
dollars of subsidies it pays annually
to U.S. farmers.
The European Union and the
United States said the two emerging
economic powers refused to offer
new market opportunities for manu-
facturing exports. Brussels and
Washington added, however, that
they were pleased with each other for
showing flexibility.
"Trade agreements should gener-
ate new trade and lift people out of
poverty," U.S. Trade Representative
Susan Schwab said. "Unfortunately,
what we have here today was not
going to generate new trade."
The White House said President
Bush was disappointed that an oppor-
tunity to expand trade had been
"Large economies like Brazil and
India should not stand in the way of
progress for smaller, poor developing
nations," deputy press secretary
Tony Fratto said.
The global talks known as the
Doha round aim to add billions of
dollars to the world economy and
help poorer countries developing
their economies through new trade
flows. But negotiations have strug-
gled since their inception six years
ago in Qatar's capital, largely because
of wrangling between rich and poor
countries over eliminating barriers to
agricultural trade.
EU Trade Commissioner Peter
Mandelson said the failure of the
talks in Potsdam, "places a very
major question mark over the ability
of the wider membership of the
WTO to complete this round."
Indian Trade Minister Kamal Nath
blamed U.S. unwillingness to cut its
farm subsidies as the reason for the
collapse of the talks.
"There is no equity in this. There
is no logic. There is no fairness," he
U.S. Agriculture Secretary Mike
Johanns said the U.S. had offered
"real cuts" that would force Wash-
ington to make changes in its farm
Offers by India and Brazil, he said,
were "so far away, so lacking in any
market access, it just literally cast a
chill over all the discussions all
"I could have done cartwheels off
the roof of this building, and I'm not
sure I would have gotten any
response whatsoever," Johanns


;:r-~a~paq~ ~E~paC~~i~Li~l

- I- 9 R Wk?--Wi i 714T, -Tl



Cyprus, Malta receive OK to us

PROMISE MAKER: Sony Chairman Howard Stringer, right,
poses with Chinese students during an event held in
Beijing on Oct. 30. Stringer promised Thursday to
shift the struggling electronics giant from recovery to

Chairman promises

change of fortunes

From Herald Wire Services
TOKYO Sony (SNE) Chairman Howard Stringer
promised Thursday to shift the struggling electronics giant
from recovery to growth and to make the PlayStation 3 a
profit driver despite its bungled rollout.
But investors at the company's annual shareholder meet-
ing in Tokyo remained skeptical of an imminent turnaround,
pressing Stringer for a clearly strategy on how he intended to
recoup losses at its video games unit and catch up to rivals
like Apple (AAPL) in portable music players.
"We will shift Sony from recovery to profitable growth,"
Stringer told about 7,000 shareholders gathered in Tokyo,
saying Sony's integrated and global approach to electronics,
games and entertainment made it a "dominant company" in
the digital age.
Pressed by shareholders at the meeting, Stringer said that
Sony maker of the iconic Walkman would not repeat its
blunders in ceding dominance in the portable music player

market to Apple's iPod.

NEW YORK General
Electric (GE) said Thurs-
day it has abandoned talks
with Financial Times pub-
lisher Pearson about a pos-
sible bid for Dow Jones &
Co. (DJ), removing a poten-
tial rival to a $5 billion offer
from Rupert Murdoch's
News Corp.
GE said it held "explor-
atory discussions" with Lon-
don-based Pearson about
combining GE's CNBC busi-
ness news cable channel,
Pearson's Financial Times
newspaper and Dow Jones,
which publishes The Wall
Street Journal, Barron's and
Dow Jones Newswires, but
decided not to proceed.
Murdoch has offered $60
a share for Dow Jones, a rich
premium of about 65 per-
cent over the levels that
Dow Jones sharesJhad been
trading prior to the offer
becoming public in early
May. Many on Wall Street
believe the price is too high
to be matched.

PARIS A raft of orders
at the Paris Air Show this
week has boosted Airbus'
fortunes and handed the
European planemaker back
the lead in overall airplane
sales bookings for 2007 from
rival Boeing (BA) at
least so far.
Airbus landed dozens of
new orders Thursday from
Asia and Latin America for
its narrow-bodied A320 and
its A330 models, following a
string of other deals
unveiled at the industry's
premier gathering at Le
Thursday's sales brought
Airbus to at least 600 firm
orders for the year so far,
including some 400 firm
orders this week.
Boeing has booked a total
of 510 firm orders during
2007, according to an update
on the company's Web site

wagen, Europe's biggest
automaker by sales, said
Thursday that its new car
sales rose 7.6 percent in the
first five months of the year
to 2.5 million amid rising
demand in Europe and Asia.
The Wolfsburg-based
company said sales of its
VW-branded cars rose 7.1
percent to 1.5 million in the
January-May period versus
a year ago, while commer-
cial vehicle sales rose 9 per-
cent to 191,000.

Trouble in H&R Block's
(HRB) subprime lending
unit led the company Thurs-
day to report fourth-quarter
and full-year losses.
For the three months
ended April 30, the Kansas
City-based company said it
lost $85.5 million, or 26 cents
per share, compared with
earnings of $587.5 million, or
$1.79, a year earlier.
For the year, the com-
pany said it lost $433.6 mil-
lion, or $1.34 per share, com-
pared with earnings of
$490.4 million, or $1.49 per
share, during the previous

ROME The Italian
government announced
Thursday that it has
extended by 10 days the
deadline for final bids to
acquire a controlling stake
in Alitalia, exposing a diffi-
cult bidding period for the
struggling airline.
The government, which
is seeking a private investor
to buy at least a 39.9 percent
stake in Alitalia but is pre-
pared to sell its entire 49.9
percent stake, set a new
deadline of July 12.
It did not give a reason in
the statement.


6:35 p.m.

Cit2Co mm

6:35 p.m.

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

Associated Press
BRUSSELS, Belgium -
European Union leaders gave
Cyprus and Malta the go-
ahead Thursday to join the
euro currency zone in January.
Final approval will come
from EU finance ministers on
July 10, bringing the number of
countries using the currency
to 15.
Cyprus and Malta will bring
just over 1 million people to
the 318 million who now use
the euro. Their economies
account for only 0.2 percent of
eurozone GDP.
One area of concern over
Cyprus was what might hap-
pen if the Greek Cypriot part
of the island reunites with the
breakaway northern Turkish
Cypriot republic.
EU officials insist that let-
ting Cyprus into the euro zone
is purely an economic issue.
Formal documents barely
mention northern Cyprus
beyond a minor reference in a
European Central Bank report
that predicts substantial costs
to develop the Turkish Cyp-
riot part after the island is
As things stand, only the
Greek Cypriot state is recog-

IN BRUSSELS: C9prus' President Tassos Papadopoulos
gives a press conference at a European summit.

nized by the European Union
and will adopt the euro, leav-
ing the Turkish lira as the cur-
rency in the northern part of
the island.
EU Economic and Mone-
tary Affairs Commissioner
Joaquin Almunia has warned
the Turkish Cypriots against
using the euro despite not
being part of the euro zone -
as non-EU members Montene-
gro and Andorra do.

Cypriot President Tassos
Papadopoulos said the island's
two economies had diverged
significantly since his country
joined the EU in May 2004. He
praised the sacrifices his peo-
ple have made to bring
Cyprus' budget deficit, public
deficit and inflation under EU
limits, particularly unions that
accepted a two-year pay
"How can you have one



Group foresees modest growth

Associated Press
economy should expand mod-
estly in coming months as a
healthy job market continues
to trump weakness in housing
prices, a gauge of future busi-
ness activity showed on
The Conference Board said
its index of leading economic
indicators rose a higher-than-
expected 0.3 percent in May,
boosted by rising stock prices,
higher consumer expectations
and the availability of jobs."- 7
Economists said that jobs:
should continue to be plenti-,,
ful, despite an unexpected'
surge in jobless claims last
The Labor Department
reported Thursday that unem-
ployment claims totaled
324,000 last week, up 10,000
from the previous week, to the
highest level since mid-April.
While the big increase was
unexpected, analysts said it
did not change their view that
the labor market remains
hardy. Even with the increase,
analysts noted claims remain
close to their average -
319,000 over the first 5 1/2
months of the year.
While the overall U.S. econ-
omy grew at a lackluster
0.6 percent in the first three
months of this year, many ana-
lysts believe the pace has
picked up significantly in the
The Conference Board's
upbeat report shows that the
impact of the housing slump
has been fairly contained so
far, said Patrick Newport, an
economist with Global Insight.
"It just hasn't spilled over
to the rest of the economy," he
It also indicates the econ-
omy is doing better than last
month's leading indicators
report suggested, Newport
May's increase reversed a

GROWTH POSSIBLE: A recent report suggests the U.S. economy will experience mod.,s ..
growth in the coming months, a possible sign that consumers are shrugging off th?. -'
weak housing market. Above, a potential buyer looks over a row of BMWs in Denver.

revised 0.3 percent drop in
April, down from the original
0.5 percent decline that econo-
mists blamed on soaring gas
prices-and a drop in building
The report, designed to
forecast economic activity
over the next three to six
months, tracks 10 economic
The advancing contributors
in May, starting with the larg-
est, were weekly unemploy-
ment insurance claims, stock
prices, building permits, con-
sumer expectations and ven-
dor performance.
The negative contributors,
beginning with the largest,
were real money supply, aver-
age weekly manufacturing
hours and interest rate spread.
With the latest report, the
cumulative change in the
index over the past six months

has gone up 03 percent.
Wall Street is fairly confi-
dent that falling home prices
and rising mortgage defaults
wun't damage the broader
economy. Treasury Secretary
Henry Paulson said Wednes-
day the housing slump is near-
ing an end, and that the losses
so far have been contained.
But if mortgage rates keep
rising, fewer people will want
to buy homes and fewer home-
owners will be able to refi-
nance. If that happens, the res-
idential real estate market's
troubles could snowball and
dampen consumer spending.
The Federal Reserve's
Open Market Committee,
which sets short-term interest
rates, meets next week and is
widely expected to leave rates
unchanged as they have been
for about a year.
A pickup in the economy

has raised worries about rising
inflation, however.
On Tuesday, the Com-'
merce Department said con--
stLuction of new homes fell-in-
May as the nation's home
builders were battered by the
crisis in subprime lending and
rising mortgage rates. Industry
sentiment about the housing
market fell in June to the low-
est point in more than 16 years.
Secondary effects from the
housing downturn like layoffs
and restrained consumer
spending could also start sur-
facing, said Aaron Smith, an
economist with Moody's
Economy.com. But the overall
drag on the economy from the
housing industry should
decline in coming months, he
"Building permits cannot.
continue declining at the pace
they have," Smith said.


EU widens probe to all search engines

Associated Press
European Union probe trig-
gered by concerns over how
long Google stores user infor-
mation has widened to include
all of the Internet search
The EU's panel of national
data protection officers said
it's now concerned over the
retention of data that the com-
panies use to deliver more rel-
evant search results and
advertising. Some fear the data
could be targeted by hackers
and governments.
"The Working Party will
deal with search engines in
general and scrutinize their
activities from a data-protec-
tion point of view, because

The EU's panel of national data protection
officers said it's now concerned over the
retention of data that the companies use to
deliver more relevant search results and

this issue affects an ever-
growing number of users," it
said in a statement released on
Trying to soothe EU con-
cerns, Google this month
offered to cut the time it
retains data on user searches
from the current 24 months to
18 months, saying this was
going further than most other
search engines. After that,
identifying information is

It insists that its retention
policies comply with EU data
privacy rules.
The 28-member panel,
which advises the European
Commission and EU govern-
ments on data protection
issues, said it still needed to
analyze Google's response and
would also look at other
search engines in the coming
weeks to evaluate what data
protection issues were at

It also has asked Google to,.
answer questions on the spe-
cific use of technologies used
by Google and other websites
to collect insights about what
sites people visit.
The EU investigation into
Google comes amid growing '
concerns over the Mountain.-
View, Calif.-based company's
privacy practices.
London-based Privacy
International has rated Google
the worst among the Internet's
top destinations on privacy.
The watchdog said it was
particularly troubled by Goo-
gle's ability to match data
gathered by its search engine
with information collected
from other services such as.
e-mail, instant messaging and


;e euro

state without one unified
economy?" he said. "For three
years now, we have been fol-
lowing an austerity budget the
other side would be free .to..
Papadopoulos said he
expected prices to be rounded
downward, saying that the
Cypriot pound was currently
at a high level against the euro.
Supermarkets had already
agreed to cut prices by at least
1 percent and others busi-
nesses should follow suit, he
Cyprus joined the EU in
2004, a month after Greek
Cypriots voted against a
United Nations plan that
would have led to reunifica-
tion. Turkish Cypriots voted
in favor of the plan. r
Larger EU newcomers -
Poland, Hungary, the Czech
Republic, Romania and Bul-
garia have yet to set a date
for their entry into the euro
Estonia had originally.
planned to join next year but is
likely to delay that as its grow- ,
ing economy sees inflation
surge, a problem that has also
slowed Latvian and Lithuanian
plans. Slovakia is scheduled to
join in 2009.

Stock Tkr.
Kraft KFT
TimeWarn TWX
GenElec GE
CVS Care CV5
Altrias MO
iShR2K nya IWM
Pfizer PFE
Cisco CSCO
US Bancrp USB

1 111_11.11

II I I e

THE MIAMI HERALD I MiamiHerald.com

FRIDAY, JUNE 22, 2007, PAGE 5B





law firm

to open



HIGGS & Johnson, the
Bahamian law firm, will
open its third satellite office
in the Family Islands on
Monday, June 25, when it
opens its doors in Abaco.
The office, which will be
H-iggs & Johnson's fourth,
will provide a wide range of
services, and focus on Aba-
co's independent wealth
management niche,
increased real estate and
mortgage financing demand,
trusts, estate planning and
John Delaney, 'Higgs &
Johnson's managing partner,
said in a statement: "For
many years we have been
building and strengthening
our business relationships on
the island, and are excited
by the opportunities pre-
sented by the growing appeal
of Abaco. Establishing a per-
manent presence here is the
latest stage in our strategy
to expand our network of
services throughout the


urged to seek


finance plans

Tribune Business
Bahamians were yes-
terday urged to look
to alternative
sources of funding
for investments, and seek out
new entrepreneurial opportu-
nities to create wealth through
industries such as tourism.
James Shikwati, founder and
director of the Inter Region
Economic Network (IREN)
Nairobi, a guest speakers at a
one-day conference hosted by
the Nassau Institute, told Tri-
bune Busines, that Bahamian
entrepreneurs should not be
held back simply because they
feel there is no money available
to finance them.
"One of the philosophies I
have is that the human mind is
capital, not money, because you
can have millions of dollars, but
if you do not have the idea then
you don't need the money," Mr
Shikwati said. "So the first place
where you need to invest heav-
ily is in getting the right idea.
If you have the right idea, I
believe strongly the money will
Mr Shikwati said future
entrepreneurs need to look
beyond traditional methods of
funding for their ventures. He
added that in his country, rather
than go to financial institutions,
many young people engage
their peers and create invest-
ment funds. This has had such

success that Kenya's banks are
doing much less business and
aggressively soliciting clients.
"This can grow money into a
good idea. First of all thinking,
rational thinking, is important,
emotions aside," Mr Shikwati
He said that business ideas
had to be thoroughly thought
out to determine their feasibili-
ty and practicality.
Mr Shikwati added that
Bahamians need to ask them-
selves: "Hhow can we better
our situation, because the Gov-
ernment may be acting out of
emotion. Maybe there are thou-
sands of Bahamas who are lob-
bying the Government, and if
you look at things from a ratio-
nal perspective, you might get
more jobs if they allowed more
competition and people com-
ing in to get new ideas and cre-
ate new business ideas."
He noted that while the
Bahamas waqs primarily
tourism-dependent, people
needed to look at spin-offs from
the industry to create new busi-
ness. "People come for the
beaches, and so maybe some-
one could say: 'Why can't we
create music as part of our
tourism sector, so people can
say why don't we go to the
Bahamas for the music," Mr
Shikwati said.
"You can think about that
and how you want to create
your own unique product,
which can make people come
specifically for that product. I
am a firm believer in good

Mr Shikwati is an African
economist and commentator on
policy. During his presentation,
he explained that citizens in any
country have to turn problems
into opportunities, and oppor-
tunities into wealth, which is the
only way a country can advance.
"If you are hungry, it is you
who is hungry and need food,
not the country. To them, you
may be just astatistic, if you are
sick then it is you who is sick,"
he said, explaining that some-
times business has to be the dri-
ving force behind technology
and infrastructure.
Often, Mr Shikwati said that
what is initially perceived to be
a problem can be something
turned into a financially benefi-
cial and nation-building solu-
tion. For instance, he said in
Africa, there was a huge malar-
ia problem. He said that rather
than waiting for the government
to address the problem, there
are many opportunities for
entrepreneurs to create fumi-
gation businesses, which not
only helps mitigate the prob-
lem, but create jobs.
"If you have 10 billion mos-
quitos and you can find a way to
put a price on killing a billion of
them, then think of the eco-
nomic ,possibilities," Mr Shik-
wati said.
IREN is a non-profit, inde-
pendent public policy research
and educational organisation
which promotes free trade as
the solution to poverty in

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

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



The Service of Thanksgiving for the
25th AnniversarY to the
Sacred Priesthood of the
Venerable Archdeacon
Keith N. Cartwright
will be held at
The Parish Church of St. Christopher
Lyford Cay, New Providence.
Sunday, 24th June, 2007 at 10am
A.!A . .. '% '






The Ministry of Works & Transport and Knowles
Construction & Development Company Ltd wish to
inform the public that the road improvement works on
Milo Butler Highway from Tonique Williams-Darling
Highway to Carmichael Road will commence on 25
June, 2007.

The Public is advised to observe the construction signs
pointing out the temporary traffic management.

Please drive with care and caution in the construction

We apologise for any inconvenience whilst we endeavour
to improve the road network in New Providence.


I ---I


PAGE 6B, FRIDAY, JUNE 22, 2007

Legal Notice


(a) ASMA COMPANY LTD. is in voluntary dissolution
under the provisions of Section 137 (4) of the
International Business Companies Act 2000.
(b) The dissolution of the said company commenced on the
21st June, 2007 when the Articles of Dissolution were
submitted to and registered by the Registrar General.
(c) The Liquidator of the said company is Verduro
Associated Ltd., Pasea Estate, Road Town, Tortola,
Dated this 22nd day of June, A.D. 2007

Verduro Associated Ltd.

Legal Notice


is in voluntary dissolution under the provisions of
Section 137 (4) of the International Business
Companies Act 2000.
(b) The dissolution of the said company commenced on the
20th June, 2007 when the Articles of Dissolution were
submitted to and registered by the Registrar General.
(c) The Liquidator of the said company is Verduro
Associated Ltd., Pasea Estate, Road Town, Tortola,
B. VI.
Dated this 22nd day of June, A.D. 2007

Verduro Associated Ltd.

Please be advised that the

following offices will be closed
on Friday, June 22, 2007 and

will re-open on Monday, June 25

2007 at the usual business hours.

Bahamas First General Insurance
Company Limited
Nassau Underwriters Agency Ltd
Moseley Burnside Insurance Agency Ltd.

Legal Notice



(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 19th day of June 2007. The Liquidator is Argosa
Corp. Inc., RP.O.Box N-7757 Nassau, Bahamas.


Legal Notice



(In Voluntary Liquidation)

Tribune Business Editor

"throughput" of cas-
es through the
Bahamian court sys-
tem acts as a major barrier to
developing an innovative eco-
nomic environment in this
nation, a leading consultant said
yesterday, as he urged the coun-
try to focus on 'reverse plan-
ning' whereby it sought out
higher-paying customers first
before exploiting its.natural
Michael Fairbanks, founder
of the Boston-based OFT (On
the Frontier) Group, a strate-
gy consulting firm, told a con-
ference organised by the Nassau
Institute that long-term the
Bahamian tourism industry
could not just compete on its
natural assets of sun, sand and
He added that the Bahamas
was "over dependent" on its
natural advantages, which
included proximity to the US,
and its competitive position in
tourism was being eroded

because the sun, sand and sea
qualities were enjoyed by
numerous other nations.
"Assets are important, but
you can't let assets dictate your
strategy because that's what
everyone else is doing," Mr
Fairbanks said.
When countries and compa-
nies enjoyed the same compet-
itive positioning as everyone
else, they inevitably ended up
competing on price, he
explained. To remain price
competitive, countries, compa-
nies and industries inevitably
sought to cut costs, chiefly wage
bills, which had wide social and
economic ramifications and led
to societies becoming poorer
even though they might export
more, as had happened with
Jamaica's bauxite industry.
Rather than focus on asset
exploitation in the first instance,
Mr Fairbanks suggested that the
Bahamas and its businesses first
identify high-paying, wealthy
customers who were prepared
to pay a high price for the ser-
vices or goods this nation would
The next step was to con-

NOTICE is hereby given that ANNE-MARIE ZORINA
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
22ND day of JUNE, 2007 to the Minister responsible for
Nationality and Citizenship, P.O.Box N-7147, Nassau, Bahamas.







Notice is hereby given that in accordance with Section 137 of the
International Business Companies Act 2000 MIXA INVESTMENT
FUND LTD. is in dissolution..
The date of the Commencement of dissolution was 4th June 2007. David
Thain of Amer Bank & Trust (Bahamas) Ltd., Building 2 Caves Village,
P.O. Box N 3917 is the Liquidator of MIXA INVESTMENT FUND
LTD. All persons having claims against the above-named company are
required to send their address and particulars of their debts to the Liquidator
before the 16th July 2007.



"elhL ifetleCane t reet

struct the operations that would
provide these services or goods,
with the final step being to
exploit the Bahamas' natural
The Bahamas had to look at
"the next thing", as having been
the first Caribbean nation to
push into tourism and financial
services some 60 years ago, oth-
er countries were now adopt-
ing and emulating the same
"This country can go down-
hill if it does not make informed
strategies 'nd make timely deci-
sions to boost its competitive-
ness," Mr Fairbanks said.
He added that the major role
the Government played in the
Bahamas, as master economic
strategist and owner of signifi,
cant utilities and infrastructure,
was "the big problem in the
Mr Fairbanks said the Gov-
ernment had a "partial role, but
significant role" to play in cre-
ating a platform from which
Bahamian companies could be
competitive, but it must not
interfere with competition and
adopt protectionist measures.

He identified a major prob-
lem in the Bahamas as being
the speed with which the courts
dealt with legal cases, joking:
"You start a case now, and
maybe your grandchildren
would finish it."
"If there's one thing that pro-
motes an innovative environ-
ment, it's the rule of law," Mr
Fairbanks said. "If you don't
have that, you're not going to
innovate your way out of any-
Protection of tangible and
intangible property rights, and
dealing with legal cases speedi-
ly and fairly, were key, Mr Fair-
banks said.
He added that in one year,
30,000 international patents
were granted to companies in
California, some 3,000 to IBM
alone, yet Brazil, the seventh
or eighth largest economy in the
world and equivalent to Cali-
fornia's in size, just granted 93.
This, Mr Fairbanks said, was
because the Brazilian court sys-
tem was not giving enough pro-
tection to patents, so no com-
panies wee going public with
their ideas.

Cruise ship loss shows need for downtown revamp

FROM page 1

Caribbean Cruise Lines rede-
ploys three of its vessels to oth-
er destinations.
Obviously, said Mr Klonaris,
this will be a loss that will be
felt, which was why it was vital
that there be in place a quality
product that will keep visitors
coming to the Bahamas.
He added that he felt that
once a newly-improved port
was in place, it would be impor-
tant that there be activities and
experiences to sustain large
numbers of passengers coming

off these Megaa ships", which
in some cases are carrying
2,000-3,000 people.
Therefore, if several ships
came in at once, downtown
Nassau could be flooded with
Mr Klonaris said he did not
think that this would be a prob-
lem, but added that other chal-
lenges included keeping the city
safe, clean and crime free.
Hle said the NTDB was work-
ing with the new administration,
and Prime Minister Ingraham
was on board with the down-
town redevelopment.

NOTICE is hereby given that WILFRED JEAN-PIERRE OF
CABLE BEACH, 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 22ND day of JUNE, 2007 to the Minister responsible
for Nationality and Citizenship, P.O.Box N-7147, Nassau,


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

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 19th day of June 2007. The Liquidator is Argosa
Corp. Inc., RO.Box N-7757 Nassau, Bahamas.



The Bahamas' most exclusive Resort and Spa
anticipates its opening in early fall, 2007.

The resort is looking for a qualified candidate to join its
team to fill the position of:


The successful candidate should hold at least a Bachelors
Degree or equivalent in Finance or Accounting with at
least three years experience in Hospitality Accounting and
Finance. The candidate should have excellent knowledge
of computer accounting systems, particularly QuickBooks
software. Duties of the position include overseeing all
financial controls of the resort including cost controls,
reconciliation and payroll.

All applications are appreciated but only qualified
individuals will be considered. Please send your application
to admin(-lmarleyresort.com, with "Reference Finance
Manager" or you may fax it to (242) 702-2822 no later than
June 29,'. 2007



Innovation hit by

court 'throughput

FRIDAY, JUNE 22, 2007, PAGE 7B


AP Business Writer
NEW YORK The United
States economy should expand
modestly in coming months as a
healthy job market continues
to trump weakness in housing
prices, a gauge of future busi-
ness activity showed yesterday.
The Conference Board said
its index of leading economic
indicators rose a higher-than-
expected 0.3 per cent in May,
boosted by rising stock prices,
higher consumer expectations
and the availability of jobs.
Economists said that jobs
should continue to be plentiful,
despite an unexpected surge in
jobless claims last week.
The Labour Department
reported Thursday that unem-
ployment claims totaled 324,000
last week, up 10,000 from the
previous week, to the highest
level since mid-April.
While the big increase was
unexpected, analysts said it did
not change their view that the
labour market remains hardy.
Even with the increase, analysts
noted claims remain close to
their average 319,000 over
the first five and-a-half months
of the year.
While the overall US econo-
my grew at a lackluster 0.6 per
cent in the first three months
of this year, many analysts
believe the pace has picked up
significantly in the spring.
The Conference Board's
upbeat report shows that the
impact of the housing slump has
been fairly contained so far, said
Patrick Newport, an economist
with Global Insight.
"It just hasn't spilled over to
the rest of the economy," he
said. It also indicates the econ-
omy is doing better than last
month's leading indicators
report suggested, Newport said.
May's increase reversed a
revised 0.3 per cent drop in
April, down from the original'
0.5 per cent decline that econo-
mists blamed on soaring gas
prices and a drop in building
The report, designed to fore-
cast economic activity over the
next three to six months, tracks
10 economic indicators.
The advancing contributors

in May, starting with the largest,
were weekly unemployment
insurance claims, stock prices,
building permits, consumer
expectations and vendor per-
The negative contributors.
beginning with the largest, were
real money supply, average
weekly manufacturing hours
and interest rate spread.
With the latest report, the
cumulative change in the index
over the past six months has
gone up 0.3 per cent.
Wall Street is fairly confident
that falling home prices and ris-
ing mortgage defaults won't
damage the broader economy.
Treasury Secrefary Henry Paul-
son said Wednesday the hous-
ing slump is nearing an end and
that the losses so far have been
But if mortgage rates keep
rising, fewer people will want
to buy homes and fewer home-
owners will be able to refinance.
If that happens, the residential
real estate market's troubles

could snowball and dampen
consumer spending.
The Federal Reserve's Open
Market Committee, which sets
short-term interest rates, meets
next week and is widely expect-
ed to leave rates unchanged as
they have been for about a year.
A pickup in the economy has
raised worries about rising infla-
tion, however.
Stocks slipped on Thursday,
after the Philadelphia Federal
Reserve's report on manufac-
turing activity in its region
jumped a stronger-than-expect-
ed 18 in June, up from 4.2 in
On Tuesday, the Commerce
Department said construction
of new homes fell in May asfthe

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Here's what one automotive web site
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nation's homebuilders were bat-
tered by the crisis in subprime
lending and rising mortgage
rates. Industry sentiment about
the housing market fell in June
to the lowest point in more than
16 years.
Secondary effects from the
housing downturn like layoffs
and restrained consumer spend-
ing could also start surfacing,
said Aaron Smith, an economist
with Moody's Economy.com.
But the overall drag on the
economy from the housing
industry should decline in com-
ing months, he said.
"Building permits cannot
continue declining at the pace
they have," Smith said.

* AN unidentified buyer looks over the sticker
price on an unsold 2007 Z4 coupe in a long row of
the sports cars outside a BMW dealership in Denver
earlier this month.
(AP Photo: David Zdlubowski)

B Summit Insurance Co. Ltd.
invites applications for the post of

Duties include but not limited to:

Supervision of the Accounts Department
Preparation of management accounts and salaries
Preparation of annual statements for audit

Liaising with auditors and other external partners


Must be Computer literate
Experience of general insurance and reinsurance
treaty accounting an advantage
CPA or similar qualifications preferred
Good analytical and communication skills

Apply in writing with CV to:
General Manager
P.O.Box SS-19028

Or fax to: 394-2353
Or email to info@summitbah.com

Closing date: 29th June, 2007

member of the QNB Group

The Ansbacher Group, specialists in private banking, fiduciary services
and wealth Management has an opening in The Bahamas for the position of


To profitably and effectively administer and manage client relationships
and portfolios of Trusts, Companies, Estates, Family Offices and other
related financial structures to achieve the client's requirements and ob-
jectives while safeguarding the related assets and professional reputation
of the company within the required legal, financial and other parameters.

The successful candidate must have the following qualifications and

0 10+ years trust experience with sound knowledge of fiduciary
products and services
0 Relevant degree level education in business, law or accounting

0 STEP designation or equivalent professional qualification

0 Computer proficiency in relevant software programs (Windows,
Word, Excel, PowerPoint)

0 Exceptional sales, advisory and inter-personal skills

0 Fluent in Spanish and proficient working knowledge of Portuguese

Please send all resumes to the attention of:
Human Resource Manager
Ansbacher (Bahamas) Limited
P.O. Box N-7768
Nassau, Bahamas
Fax: 325-0524
E-mail: h manager@ ansbacher.bs

Deadline for all applications by hand, fax or email is June 27. 2007


my h id and

,.,Us econo S Ou expl

tly 1 g months
o es n comin



( Tribune Comics



L-;__ _---B3OYFRIENP!I



r^-o0 0



Contract Bridge

By Steve Becker

1. You are declarer with the West
hand at Three Notrump, and North
leads the jack of hearts. How would
you play the hand?
West East
*AK *1072
*Q62 *KJ7543
+ QJ1083 492
2. You are declarer with the West
hand at Six Clubs, North having
opened the bidding as dealer with
one diamond. North leads the queen
of diamonds. How would you play
the hand?
West East
4 Q3 *4KJ64
YAQ52 V97
~ *A87
+AKQ9873 4+J 1062
1. This is one of those cases
where, with proper play, you're sure
to make the contract regardless of
how the opponents' cards are
divided. Win the heart and play the
queen of diamonds, not a low dia-
mond. If the suit is divided 4-0 and
the defender with the A-10-9-8 takes
the ace, you later lead a low diamond
and play low from dummy to assure
nine tricks; if the defender with four
diamonds does not take the ace, stop
playing diamonds and attack clubs.
If both opponents follow to the dia-
mond queen and it holds the trick,

)|( Calvin & Hobbes

4 l s~r wbevO.~L s p,.s SOc.,

i bune



ARIES Mar 21/Apr 20
You must take your finances more
seriously, Aries. You haven't been
paying much attention to your cash
flow in the last few months.
Resources can deplete quickly.
TAURUS Apr 21/May 21
Something that happened in the
past has recently come back to
bother you, Taurus. You must for-
get the situation so that you can
get on with your life.
GEMINI May 22/Jun 21
If you do something nice for a person
close to you, you will be rewarded
ten-fold in the coming weeks. Plus,
you'll have the pleasure of seeing the
joy on that person's face.
CANCER Jun 22/Jul 22
You will gain something this week to
which you are not entitled, Cancer.
Consider giving it back, otherwise you
arny be left with a heavy conscience
bearing down on you.
LEO Jul 23/Aug 23
Show coworkers that you are willing
to put in the hard work needed to get
through tough projects ahead, Leo.
This will be more effective than sim-
ple flattery.
VIRGO Aug 24/Sept 22
Be friendly to strangers, Virgo, but
also be on your guard for those who
are looking to take advantage of
your generous nature. They may
seem like friends at first.
LIBRA Sept 23/Oct 23
Mending fences is something you
often consider a chore, but it's the
secret to successful relationships,
Libra, Just don't always be the one
who gives' in to compromise.
SCORPIO Oct 24/Nov 22
You have to learn that the world
doesn't revolve around you,
Scorpio. You are not right in
every situation. Such thinking can
hinder productivity.
You are prone to causing arguments
when they are not justified just to get
a rise from someone, Sagittarius.
This is not a healthy or friendly way
to behave.
CAPRICORN Dec 22/Jan 20
Focus on your creativity this week,.
Capricorn. Maybe there is a project you
wanted to start or finish. Redecorating
is a good way to develop any creative
ideas that are swarming.
AQUARIUS Jan 21/Feb 18
Don't let the negative gossip of oth-
ers rub off on you this week,
Aquarius. Continue to be the diplo-
mat and you'll keep your friends'
support and companionship.
PISCES Feb 19/Mar20
Pisces, when an important decision
arises, the answer is to try. some-
thing different rather than doing
what you always do.

lead another diamond to dummy's
jack. If the jack also wins, shift your
attention to clubs, forcing out the A-
K and thus making four notrump.
If you were to make the mistake of
leading a low diamond to the jack at
trick two, you might find yourself
going down if, for example, South
had the A-10-9-8 of diamonds and
took the jack with the ace.
2. It is virtually certain that North
has the ace of spades and king of
hearts for his opening bid. It would
therefore be wrong to rely on a heart
finesse, especially when there is a
much safer method of play.
The best approach is to start by
ruffing the queen of diamonds. It
would be wrong to play the ace from
dummy, which would force you to
make a discard from your hand
before you are ready to do so.
After drawing trumps, you next
lead the three of spades toward
dummy, placing North squarely on
the horns of a dilemma. If he goes up
with the ace, you can later discard
the Q-5-2 of hearts on the K-J of
spades and ace of diamonds. Alterna-
tively, if North ducks the spade, you
win with dummy's jack, discard the
queen of spades on the ace of dia-
monds, lose a heart finesse to North's
king and later trump two hearts in
dummy. Either way, you make the









words in
the main
body of

HOW many words of four
letters or more can you make
From the letters shown here?
may be used once only. Each
N must contain the centre letter
and there must be at least one
nine-letter word. No plurals.
_.........____.....____ ____.. ........ Good 15; very good 22;
excellent 29 (or more).
Solution tomorrow.


9 A fruit tree with another beside it (9)
10 Should he want changes made in
one, declining (2,3,4)
12 An instinct for that's pronounced, one
realises (4)
13 Saying it's near, urge on (6)
14 Shut up about, as a non-
cosmopolitan (7)
15 A bird that's right. Bred
out east (9)
17 Had levelled with on having
exceeded the dosage (9)
18 Stuck to the point, though
confused by (7)
19 Followed by the police,
hurried off (6)
20 Question wly you got short
measure, being poured a drink (4)
23 Given to the current editor (9)
25 Ascribe to a particular property (9)
26 Taking a break in Los Angeles,
too (4)
27 Goes round to get the garments (6)
29 Increase for FBI agents in the start of
the season (7)
32 Looking for a child in the burning
enclosure (9)
34 An aberration in take off (9)
35 To get rid of, I throw back into
the tree (7)
36 A ministerial address (6)
37 Having to go back to get the boy (4)
38 Lifting the lid up, it gives one a
surprise (3-6)
39 Humoled and cold, got a move on (9)

1 A weapons expert, is
angry (2,2,4)
2 A bias that is, perhaps, only
right (3-9)
3 By spring run off back to the
foreigner (8)
4 One's brought in support, to
oppose (6)
5 Loss of face for the steeplelack, now
a miner? (4-4)
6 The regular fare (6,4)
7 Shiftily, treads softly through, as one
slips off (7)
8 The relevance of money gets
interwoven through it (10)
11 Sadly, there's a
deficiency of (5)
16 Does it wind up on the beach? (6)
19 Possibly an automatic
switch (3)
21 Trying to find a seat? (5,7)
22 Feel better when the key
is inserted (6)
23 Hippy? Wrong! (4-6)
24 Control "22" (4,2,4)
25 A kiss from a goose (3)
28 Recording made of wild tigers a year
back (8)
29 Acceptance for a few a chum brought
round (8)
30 Aids to climbing those terribly old go
in for (8)
31 Is very tight with small curls (7)
33 A pupil the one and only (5)
34 Manage to gelt straight (6)


9 Period of truce (5-4)
10 Wipe out (9)
12 Red meat (4
13 Be able to buy (6)
14 Shrewd, informally
15 Fairground target
17 Remaining fresh and
vital (9)
18 Cleamng cloths (7)
19 Former monetary
unit (6)
20 Woodwind
11inlruneriln (4)
23 School Subjuct (9)
25 Fat (9)
26 Greek letter (4)

27 Aristocracy (6)
29 Type of warship (7)
32 Of choice (9)
34 Crosses(9)
35 Meeting for boat
races (7)
36 State of being rich (6)
37 Baby carriage (4)
38 Concord, harmony (9)
39 School
janitor (9)
1 Sword holder (8)
2 Live within one's
mearins (4,4,4)
3 thdden
4 Unecs (8)
5 Unnecessary (8)

6 City in NW
England (10)
7 Disclose (7)
8 Downcast,
disheartened (10)
11 Confuse (5)
16 Picturesque (6)
19 Snoop (3)
21 Swimming style (12)
22 Time to come (6)
23 Thin dr biscuit(10)
24 Tennis term (3-7)
25 Sob (3)
28 Concerning (2,2,4)
29 Natters (8)
30 Aromatic shrub (8)
3 1 Small falcon (7)
33 Keen (5)
34 Hypnotic state (6)



IH S -e y e o--a en

Vlastislav Tkachiev v Rafael
Vaganian, Neum 2000. Tkachiev,
33, is the playboy of world chess
and once described his priorities
as "sea, sangria and sex". But
the Kazak, who now lives in
Paris, showed fine form when he
won the 2006 French
championship, and went on to a
career-best result this spring
when he took the European title
at Dresden ahead of more than
180 rival grandmasters. Here as
White (to move) his pieces seem
far distant from the black king,
but two positive factors are the
potential knight outpost at f6
and lurking tactics on the back
row. There is a key hidden
variation which results in an
unusual checkmate, and
Tkachiev spotted it. Can you do
as well?


S_-_-__ _ - l -p -


ACROSS: 4, Morose 7, Hard core 8, T-win-ge 10, Aport 13, Barn 14, Men-u 15,
K-ale 16, Cop 17, Fair 19, S-t-un 21, Sup-porter 23, W-asp 24, NASA 26, Why 27,
Even 29, St-y-e 32, Wait 33, H-e-ard 34, Refill 35, Lifebelt 36, Bertha
DOWN 1, C-he-am 2, Argon 3, Scat 4, Metal 5, Ru-l-n 6. Sign on 9, W-rest-s 11,
Pen 12, Ruf-us 13, Baronet 15, Kip 16, Cur 18, Appeal 20, Teas-e 21, S-ay 22, Ran
23, Wheeze 25, Ayr 28, Villa 30, Tales 31, E-DI-th 32, Wilt 33, Ho-E-d


ACROSS 4, Repast 7, Gladioli 8, Scotch 10, Elite 13, Dear 14, Sash 15, Send 16.
FPet 17 Eros 19 Ever 21, Protester 23, Duet 24, Rose 26, Win 27, Tots 29, Raid
32, Lens 33, Ad\ 1 134, Spouns 35, Explicit 36, Slight
DOWN 1, OD 'p ins 3 lime -1. Hisen 5, Poor 6, Sucker 9, Cadels 11, Lag 12,
Ih:r 13 DeLirr,s Sot 1i;, P Er 18, i Rotte 20, Veers 21, Pun 22, SOS 23, Dispel
25 RA,, 28 Ons t : Al,t h 31, Delta 32, Lony 33, Ally

Chess solution 8396:1 NIb+ Ktt or K8 2 Qxc8+) 2
Qxc8+*Bxc8 3 Rd8* Ke7 4 Re8 mate. Black can hold
out longer by l...Qxf6 2 Qxc8+ and 3 exf6, but White
wins easily on material.

Test Your Play










; I I I -

PAGE 8B, FRIDAY, JUNE 22, 2007





'Sinister' NHI plan would eliminate private health care

FROM page 1

" be comprehensive "will really
do you in" if implemented, Dr
Walker warned, as it promised
that all residents and almost all
benefits/forms of healthcare will
be covered.
However, he argued that the
"most sinister" aspect of the for-
mer government's scheme was
that it would have eliminated
private healthcare facilities,
such as hospitals, by only per-
mitting private spending for ser-
vices that exceeded or were not
covered by NHI.
Bahamians and residents, if
the PLP's NHI scheme had
been implemented, would have
not been able to "put your hand
in your pocket and pay for hos-
pital or doctor treatment", Dr
Walker said.
He added that the Supreme
Court in Canada had recently

ruled against such practices in
the Canadian healthcare sys-
tem, finding that the system
"violated the constitutional
rights of Canadians". Canadi-
ans' healthcare was being dam-
aged, and a universal, compul-
sory health insurance system
was not necessary, the court
Similar concerns had killed
healthcare legislation in the US
that was sponsored by presi-
dential candidate Hillary Clin-
ton, and Dr Walker said: "You
need to realise that this is what
is being proposed in the
Bahamas. This provision is the
most sinister one in the report,
and is the Achilles heel of the
Canadian scheme, as it was
recently rejected by the
Supreme Court of Canada."
The NHI scheme proposed
by the former administration,
by contracting with private hos-

pitals and other facilities to pro-
vide services for the plan, would
have gradually taken control by
determining budgets and pay-
Dr Walker, though, agreed
that health insurance should be
made mandatory via legislation.
He explained that this was to
prevent any healthcare financ-
ing system being exploited by
'free riders', who never bought
health insurance because they
were secure in the knowledge
that 'Good Samaritans' in soci-
ety would pick up the tab for
them. This, in turn, raised
healthcare costs for everyone
However, Dr Walker
described as "nonsense" the
proposal that the National
Insurance Board (NIB) be used
to administer an NHI scheme,
warning that it was "going to
blow a lot of dough and not give

you what you want".
The Blue Ribbon Commis-
sion's own report pointed out
that NIB was too costly, 25 per
cent overstaffed and inefficient,
' but did not say how these issues
would be tackled to ready it for
NHI. There were also the "hid-
den costs of monopoly" in hav-
ing NHI act as the sole admin-
istrator of NHI.
Dr Walker also decsribed as
"absolutely dumb" any NHI
system that did not employ
some form of user fee, co-pay-
ment or deductible to discour-
age over-use of healthcare ser-
vices. He added that poor peo-
ple could be exempted from
paying these.
Under NHI, the Government
would have "decided every-
thing" in relation to healthcare
spending and resource alloca-
tion in the Bahamas, with the
connect between patient and

CUSTOMS. from page 1

them until the issue was
Mr Lowe said the episode
again highlighted the need for
all parties to the Hawksbill
Creek Agreement the Gov-
ernment, through Customs and
the Ministry of Finance, the
Grand Bahama Port Authori-
ty (GBPA) and its licencees -
to sit down and discuss the
issues relating to the agree-
ment and the Customs Guide,
which has no asis in statute
Although he was waiting to
receive and study a copy of the
". judgement in the Home Centre
case, to see how it impacted
the bonded goods regime, Mr
Lowe said: "This is an issue
that has raised its head many
times over the last 40 years,
and the guide, which was cre-
ated some time in the early
1970s, has only succeeded in
muddying the waters and the
" "It has only served to con-
.. fuse the situation because it
represents an informal give-
and-take between the Port
Authority and Customs.

"The practice does not even
resemble the Guide, which fur-
ther shows the need for there
to be a meeting of minds to
resolve this to the satisfaction
of everyone involved, with a
high priority placed on educa-
The Home Centre verdict is
the latest in a string of court-
room defeats suffered by the
Customs Department in rela-
tion to bonded goods and its
attempts to enforce duties on
businesses and residents in
Freeport, many feeling these
efforts were prompted by the
department's suspicions that
too much revenue was being
lost as a result of the Hawksbill
Creek Agreement.
Under the Hawksbill Creek
Agreement, Grand Bahama
Port Authority (GBPA)
licencees are entitled to import
duty-free into Freeport a
whole range of goods, which
can then be sold on duty free
to other GBPA licencees, pro-
vided the goods are for use in
their businesses.
While Freeport-based
wholesalers sell stock in their

Atonius Roberts-

Post House Studio & Gallery

Please Call (242) 327-7562

The Public is hereby advised that I, AUDRICK ALVARDO
WILLIAMS of RO. Box AB-20218, Marsh Harbour, Abaco,
Bahamas, intend to change my name to VADO SHERLIN
BOOTLE JR. 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.

The Public is hereby advised that I, CORDEISHA
Harbour, Abaco, Bahamas, intend to change my name to
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.

BEACH, 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 22ND
day of JUNE, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Nassau, Bahamas.

NOTICE is hereby given that DERISSON NOEL OF PALM
BEACH, P.O. BOX N-4705, 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 15TH day of JUNE, 2007 to the Minister responsible
for Nationality and Citizenship, P.O.Box N-7147, Nassau,

stores and display goods on
their shelves to the general
public, a different practice has
often been adopted when oth-
er Port Authority licensees
seek to purchase these prod-
ucts as bonded goods.
The Customs Guide to the
Hawksbill Creek Agreement

requires wholesalers to retrieve
products from bonded storage
in their warehouses when they
are purchased by customers
entitled to receive them duty
Yet is is now understood
- that bonded goods are also
now being displayed at retail.


In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138
(4) of the International Business Companies Act, 2000,
NOBLESS HOLDING S.A. is in dissolution as of
June 21, 2007.

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



In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138
(4) of the International Business Companies Act, 2000,
MONVALLEY PORTFOLIO INC. is in dissolution
as of June 21, 2007.

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


service delivery entirely elimi-
In Canada, waiting times to
see doctors and for specialist
treatment were different in all
provinces, leading Dr Walker
to charge: "Whatever they
think, whatever they promise,
you are not going to get univer-
sal, same access across all the
islands of the Bahamas. We've
been trying to do it for 40 years,
and the result has been vast dif-
ferences in access to health-
The Canadian healthcare sys-
tem was among the world's
costliest, but it was not among

the world leaders when it came
to issues such as life expectancy,
infant mortality and perinatal
Between 200-2001 and 2004-
2005, total revenues generated
by the Canadian government
gad risen on average by 3.5 per
cent, but health care spending
was growing at 8.1 per cent. In
Ontario, the wealthiest
province, if this trend was not
reversed, total public health
spending would absorb 100 per
cent of the province's revenues
by 2026. In some Canadian
provinces, 50 per cent of the
budget goes to healthcare.




The Board of Directors of Benchmark
(Bahamas) Ltd. Announced at it Annual General
Meeting the declaration of a special dividend
of one cent per share based on the results of the
company for the first half 2007.

Payment will be made on 31st July to
shareholders of record 16th July 2007

Notice is hereby given that the Twenty-seventh
(27th) Annual General Meeting of THE
CREDIT UNION LIMITED will be held at
The British Colonial Hilton Hotel, West Bay
Street, on Friday, June 22, 2007 commencing
at 6:30pm for the following purposes:

To receive the report of The
Board of Directors.

To receive the Audited
Accounts for 2006.

To elect members of The Board
of Directors.

To discuss and approve the
budget for 2008.

All members are urged to attend.
Refreshments will be served!

Pricing Information As Of:
Thursday 21 June 2007
BISX ALL SHARE INDEX: CLOSE 1.803.60 / 1CH 02.gI / % IHQ1,4A1/ YTD 127.47 / YTD % 07.60
.2'.K H, /.K-Lo.. ;Securtl Pevious Close To,'a.'s Close Cnange Da.t, V.: EPS 1 Di. I P'E a.enr
1.46 0.54 Auaco Markets 1.18 1 -4i 0 30 300 Ou0 0 0uu0 0 C. N-t.1 O t0-
12.05 11.00 Bahamas Property Fund 11.59 11.59 0.00 1.548 0.400 7.5 3.45%
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 -0.013 0.020 N/M 2.35%
3.20 1.30. Bahamas Waste 3.20 3.20 0.00 0.279 0.060 11.5 1.88%
1.49 1.20 Fidelity Bank 1.42 1.42 0.00 0.064 0.020 22.2 1.41%
10.74 9.00 Cable Bahamas 10.73 10.74 0.01 1,500 0.949 0.240 11.3 2.23%
2.21 1.80 Colina Holdings 2.21 2.21 0.00 0.281 0.080 7.9 3.62%
14.63 10.60 Commonwealth Bank 14.63 14.63 0.00 1.152 0.680 12.7 4.65%
5.72 4.22 Consolidated Water BDRs 5.49 5.53 0.04 0.112 0.049 49.1 0.89%
2.76 2.40 Doctor's Hospital 2.40 2.43 0.03 3,000 0.281 0.000 8.6 0.00%
6.30 5.54 Famguard 6.30 6.30 0.00 1.000 0.694 0.240 9.1 3.81%
12.61 11.50 Finco 12.61 12.61 0.00 0.787 0.570 16.0 4.52%
14.70 12.43 FirstCaribbean 14.50 14.50 0.00 0.977 0.500 14.8 3.45%
17.50 11.00 Focol 17.50 17.50 0.00 1.657 0.520 11.1 2.97%
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 7.30 0.05 5,000 0.532 0.200 13.7 2.74%
9.50 8.52 J.S. Johnson 9.50 9.50 0.00 0.868 0.570 10.9 6.00%
1000 10.00 Premier Real Estate 10.00 10.00 0.00 1.167 0.600 8.6 6.00%
. ... =it ow .t ot unter Seo es -.......
52,K-H. _'. -.Lo ,-Orr.oi B, B A s, I Las Price .L'e hi, oi EPS i C,. L' PE Y-era
1.1.,0 12.25 Barnamaa Sulermar.e 14r00 156.0 1600 41 2"34 1o i. 1, i 6 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 045 0.55 0.20 0.034 0.000 26.2 0.00%
S Goin.QvPT l nt Bscurtti,- ...
413 0 2600 jABDAB 41 00 4300 41 00 2220 r' 00r0 194 0040'
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%
52wk-Hi 52wk-Low Fund Name NA V YTD% Last 12 Months Div $ Yiela "/o
1.3437 1.2933 Colina Money Market Fund 1.343743*
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 551O 11 0199 Fidellty Prime Income Fund 11.5519....
FIFINPtR; .l ISBAVr rIWD 08.80% / 2006 34.47%-
b-: ,; E 'l, CE 1, I D -, = ..-. M. J M.T TE Mi V U l 1 -1 ,*. -.r 1 .. -, r, :. :.- ..e .
52wk-HI Highest closing price In last 52 weeks Bid $ Buying price of Colina and Fidelity
52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Collna and fidelity 15 June 2007
Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price
Today's Cleos Current day's weighted price for daily volume Weekly Vol. Tradlng volume of the prior week -30 April 2007
Change Change In closing price from day to day EPS $ A company's reported earnings per share for the Ilst 12 mths
Daily Vol. Number of total shares traded today NAV Net Asset Value 31 May 2007
DIV $ Dividends per share paidin the last 12 months N/M Not Meaningful
P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index January 1, 1994 = 100 .. 30 April 2007
S.....- 31 May 2007
TO TRADE CAL-: COLINAa 42- -7O Q 0 .-:P9rY'242a,-B7 I4 /FQ MORM DATA 0NFQRMATQ N CALL- (4), 4-2a 03


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