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Permanent Link: http://ufdc.ufl.edu/UF00084249/02942
 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: 7/16/2007
 Subjects
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
System ID: UF00084249:02942

Full Text






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CLOUDS AND
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The


Tribune


BAHAMAS EDITIONra
BAHAMAS EDITION


Volume: 103 No.194


MONDAY, JULY 16, 2007




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Sini


Seven-year-old boy

from US sustains

fatal head injuries


* By KARIN HERIG
Tribune Staff Reporter
A SEVEN-YEAR-OLD
American boy died yesterday
morning on Paradise Island as
the result of a jet-ski accident,
once again calling into the ques-
tion the safety of the popular
water craft.
According to preliminary
police reports, the boy was rid-
ing on a rented jet ski with his
mother, when she lost control
of the craft. The boy fell off the
jet ski, sustaining fatal head
injuries.
The tragic accident happened
just hours after the boy arrived
in the Bahamas with his parents
and sister.
Chief Supt Glen Miller, in
charge of CDU, told The Tri-
bune that the family arrived in
the Bahamas at 8am yesterday
onboard the Majesty of the Seas
cruise ship.
The family was spending
their shore leave on Cabbage
Beach until the fatal accident
occurred at 11.30am. The boy
was taken from Paradise Island
to Princess Margaret Hospital
by ambulance and was pro-
nounced dead on arrival.,
This is the third fatality
involving jet skis and speed
boats to occur on Paradise
Island in the past five years.
Last June, 14-year old
William Kay of New Jersey was
killed when a joy-riding adven-
ture became fatal.
The teenager was riding a jet
ski when he lost control and col-
lided with a boat. As a result of
the collision, the boy suffered
serious injuries and was pro-


nounced dead on arrival at the
hospital.
Following this incident, jet
ski operator Patrick Glinton was
charged with operating a com-
mercial water craft without a
valid insurance certificate, cur-
rent business license and regis-
tration certificate.
He was also charged with
failing to produce a commercial
water craft to the Bahamas Port
Authority and permitting a per-
son under 18 to take control of
the water craft.
In November 2004, 44-year-
old Anthony Moretti of New
York died on.Paradise Island
after his jet ski collided with one
driven by his 13-year-old niece.
The two-year-old son of
British couple Paul'arid Andrea
Gallagher, died in August, 2002,
on Cabbage Beach after being
hit by an out-of control speed-
boat that was pulling a banana
boat.
Legislation was passed in
parliament last April to
strengthen regulations govern-
ing the commercial and recre-
ational uses of water craft in the
Bahamas.
The legislation imposes stiff
penalties ranging from two
years in prison to maximum
fines of $5,000 on jet ski oper-
ators who do not hold licences.
The new regulations also stip-
ulate that no one under 18 will
be allowed to operate or rent
jet skis.
Although all laws seemed to
have been adhered to in this lat-
est tragic accident, questions still
arise as to how safe jet skis real-
ly are for inexperienced tourists
to operate.


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* THE driver of this Nissan Sentra was travelling west on Tonique Williams-Darling Highway when he lost control.
(Photo: Tim Clarke/Tribune staff)


* By KARIN HERIG
Tribune Staff Reporter
TWO men one from Nassau, the other from Andros lost
their lives in separate traffic accidents this weekend, bringing the
number of fatalities to 24 for the year.
A 25-year-old man of Pinewood, New Providence, was killed
when he was thrown from his vehicle after hitting a tree, and a
resident of North Andros died after losing control of his car in
the area of Nicholls Town.
According to press liaison officer Asst Supt Walter Evans, the
New Providence victim was travelling west on the Tonique


Court of Appeal
rules costs awarded
over seized vehicles
were excessive
* By ALISON LOWE
Tribune Staff Reporter
IN A case related to the 2002 arrest of
alleged drug trafficker Austin Knowles, the
Court of Appeal has ruled that a Supreme
Court judgment that costs of over $230,000 be
awarded by the government to two separate
companies whose vehicles were seized at Mr
Knowles' residence on the day of his arrest
was "excessive and contrary to principle."
Instead, appeal judge Justice Longley on
July 12 substituted awards of $7,000 to each of
the two owners of the luxury vehicles a
Mercedes 5500 series, a Lexus LX jeep and a
Cadillac Escalade jeep.
Justice Longley, with President of the
Court of Appeal Dame Joan Sawyer and Jus-
tice Osadebay, presided over the appeal.
Noting in his judgment that an appellate
court "does not lightly interfere with an award
of damages made by a judge" Justice Longley
said that a court can interfere if it is clear
that a judge has "acted upon some wrong
principle of law, erred by taking into account
some irrelevant consideration, or failed to
consider a relevant factor," or if the amount
SEE page 12


Williams-Darling Highway shortly after 6pm on Saturday when
the accident occurred.
The driver was reportedly travelling at a high speed when he
lost control of his 1996-model, white Nissan Sentra vehicle.
The car hit a tree and overturned from the impact. The dri-
ver was ejected from his seat, Asst Supt Evans said.
The victim was rushed to Princess Margaret Hospital where
he died of his injuries shortly on arrival.
The two other passengers of the Nissan, both men, also sus-
SEE page 12


National debt edges

closer to billionn
* By NEIL HARTNELL
Tribune Business Editor
THE Bahamas' national debt is inching
closer towards the $3 billion mark, now stand-
ing less than $100 million away from that fig-
ure, as the Central Bank confirmed the fiscal
deficit's widening in the run-up to the May 2
general election as the then-government
sought a pre-vote boost through increased
spending.
Reviewing domestic economic develop-
ments for the 2007 first quarter, the Central
Bank reported that the fiscal deficit for the
three months to March 31 widened by $10.8
million to $35.6 million compared to the pre-
vious year.
A 13.1 per cent rise in government rev-
enues during the first three months of 2007,
driven by a 13 per cent increase in tax rev-
enues, was outdone by rises in both recurrent
and capital spending by the Government.
The increase in government taxes was dri-
ven by growth in stamp and real property
taxes, which outshone a decline in customs
duties on imports and tourism-related taxes.
Yet recurrent spending, which goes main-
ly on the Government's fixed costs such as
wages, salaries and property rents, rose by
SEE page 12


Physicians are
'watching' Bahamian
patients on diabetes
drug 'Avandia'
By ALISON LOWE
Tribune Staff Reporter
BAHAMIAN patients taking diabetes
drug "Avandia" are "being watched" by
their physicians in light of reports coming
out of the U.S. that the drug may cause
an increased risk of heart problems, it has
- been claimed.
Some patients have requested that they
be put on other medication since concerns
of the alarming possible side-effects were
raised, said senior pharmacist at Lowe's
Pharmacy, Bruce Lowe, yesterday.
Mr Lowe was speaking in the wake of
reports in The Miami Herald on Friday
.which revealed that in the four weeks fol-
lowing an analysis which detailed the
increased risk for those on Avandia, federal
regulators in America have received a
tripling of reports of side effects.
Such side-effects ranged from blisters to
sudden cardiac death, it was reported.
Mr Lowe said that healthcare profes-
sionals in the Bahamas have in fact been
aware of the potential side-effects for some
SEE page 12


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PAGE 2,III I MN YJL 1,2 7T TIIII BUNEL


Laing pledges to help voters




being accused in Marco City


* By DENISE MAYCOCK
Tribune Freeport Reporter
FREEPORT Zhivargo
Laing, MP for Marco City, said
the FNM will seek to assist
those persons who are being
accused by the PLP of voting
illegally in the Marco City con-
stituency.
The Minister of State for
Finance said that he and his
legal team have already con-'
tacted several persons whose
names appear on a petition filed
by Senator Pleasant Bridgewa-
ter to contest the election results
, in Marco City.
"We will continue to do all in
our power to defend the results
of the election gone by, and to
defend the good names of those
persons who were duly entitled


to vote in the last general elec-
tion in Marco City," he said on
Sunday at his constituency
office.
He reports that in the peti-
tion Ms Bridgewater is alleging
that 19 persons who voted were
non-Bahamians and not enti-
tled to vote in Marco City, and
that 81 persons voted who were
not residents in the constituen-
cy.
Mr Laing said that the for-
mer MP for Marco City contin-
ues to compile a list of other
persons to be named in her peti-
tion before the court.
On Friday, Senator Bridge-
water claimed that almost 200
persons voted illegally in Marco
City. She also complained that
members of the FNM are con-
tacting PLPs and telling them


that their names are on a list to
be challenged by the PLP.
Mr Laing explained that
sometime on June 21 he was
served with a notice of petition
filed by Senator Bridgewater,
petitioning the courts to review
the results of the recent elec-
tion.
In that petition before the
courts, he said, she alleges that
some 100 persons illegally voted
in Marco City, and listed the
names, date of birth and the
polling divisions in which those
persons voted.
"It has fallen to me, and to
us to seek out those persons and
to assist them in trying to clear
their good names, having been
accused in the courts by Ms
Bridgewater of having not been
entitled to vote," he said.


"I must tell you many of
them were shocked; they were
stunned and indeed, they were
angry at discovering that they
had been so named by Ms
Bridgewater.
"What I found interesting
is that a number of those per-
sons who claim to have sup-
ported her were even more,
angry about this matter," said
Mr Laing.
"And so, I suspect that the
calls which Ms Bridgewater
said she was inundated with,
were calls from people who
would have expected better
from her; who would have
expected, having supported
her, not to have so accused
them."
Mr Laing said he is, fully
confident that when the court
has an opportunity to review
the evidence in relation to the
matter, that nothing will
change in respect to the
results for Marco City.
"I will remain the MP for
Marco City, and the people
who decided that they didn't
want the last MP for Marco
will have had their wishes
stand," he said.
In addition to the Marco
City seat, the PLP is also con-
testing the Blue Hills and
Pinewood seats.


* ZHIVARGO Laing
Mr Laing said that there are
some people who cannot
accept the will of the people
and believe that they are enti-
tled to govern the Bahamas.
"There are some people
who believe they are entitled
to be representatives of cer-
tain constituencies. And they
cannot accept the will of the
people and they try to do all
they could to get back what
they believe is duly theirs.
"There is nothing we can
do about that, but we have a
responsibility to defend the
results of the last election and
we are going to do that
assertively," he said.


Bridgewater makes

claim over programme


* By DENISE MAYCOCK
Tribune Freeport Reporter
FREEPORT PLP Sena-
t6r Pleasant Bridgewater
claims that young persons
have to pickup applications
for government's summer
employment programme at
FNNI Headquarters. but FNM
MPs say that forms are avail-
able at the Administrator's
office on Grand Bahama.
"I am informed that appli-
cation forms are being issued
cnt oMthe office of the FNM
Headquarters, and if that is
not ffiking the programme \
political, then tell me what is?
"Not everyone is an FNM
supporter and feels comfort-
ablegoing (there)," said Ms
Bridgewater on Friday at her-
PLP office in Marco City.
However, Minister of State
for Finance Zhivargo Laing and
Pineridge MP Kwasi Thomp-
son denied the accusation.
Mr Laing said that any
attempt to suggest that the-
government is running the
programme out of FNM-
Headquarters was "absolutely
erroneous and false." ;
"I might also note that Ms
Bridgewater suggested that
she heard that I had person-.
ally interviewed students and
received application forms.
Nothing could be further from
the truth... as I have never
interviewed a student for this
programme," he said.
Ms Bridgewater also said that
during the last few years the
programme has come under a
lot of scrutiny by the then FNM
opposition, which also accused
the PLP government of victim-
izing young people.
"In my opinion, how is it
being conducted now is even
worse and shameful and dis-
graceful. And furthermore, it is
wrong and should be stopped.
Mr Laing said that the sum-


mer employment programme
is being run out of the Admin-
istrator's office in Freeport.
He also said that the Ministry
of Finance had transferred
some $315,000 to the Admin-
istrator's office for the pro-
gramme in Grand Bahama.
Mr Laing said that there are
a number of supervisors for
the programme from the var-
ious constituencies who have
been assisting with the pro-
cessing and placement of stu-
dents and persons being
engaged in the summer
employment programme.
Mr Laing said that he has
received requests fromstu-
dents throughout the con-
stituency about the startof the
programme and had passed
on the names of those persons
to the relevant agency.
"To suggest that I did any-
thing in the nature of taking
applications, and personally
interviewing students is
absolutely false.
"All of my colleagues have
been participating in this pro-
gramme through their con-
stituency offices."
He explained that some stu-
dents may have contacted the
FNM Headquarters inquiring
about applications, and the
office may have decided to get
some forms.
Mr Laing believes that the
PLP is trying to cast asper-
sions on the programme for
political reasons.
Pineridge MP Kwasi Thomp-
son, deputy speaker of the
House, said he was .concerned
and upset over comments made
by Senator Bridgewater.
"The employment pro-
gramme is too critical for us to
use it as a political tool. We
are facing serious times in
Grand Bahama, where we are
trying to remedy the situation
that has existed for the past
five years.:


* In brief

Woman held
after handgun
ammunition
is discovered
A 33-YEAR-OLD woman
has been detained in connec-
tion with the discovery of two
9mm Ruger bullets in an Eight
Mile Rock residence.
Police found the bullets in a
bedroom in a house situated on
Golf Lane, South Bahamia at
around 6.15am on Friday, July
13 after executing a search war-
rant on the home.
The Grand Bahama branch
of the police force suspected
that the house contained dan-
gerous drugs, firearms, or both.
The woman, currently in cus-
tody at the Central Detective
Unit, is expected to be
arraigned in the Freeport Mag-
istrate's Court this morning.

Man arrested
after company
equipment
is stolen
A 27-YEAR-OLD man is in
police custody today in connec-
tion with the theft of $79,500
worth of equipment from the
Grand Bahama-based Bahamas
Shrimp Company.
The equipment including
24 stainless steel pontoons, one
stainless steel water purification
system, one fibre glass dinghy
with a motor attached and a
quantity of electrical wire -
was reported missing from the
company's premises at around
3pm on Friday by company
manager Sophia Thompson.
She claimed that somebody,
or several people, had unlawful-
ly entered the shrimp farm, locat-
ed at Queen's Cove in the North
Airport Zone, during the previ-
ous week and taken the items.
Chief Supt Basil Rahming
said: "As a result, officers com-
menced an intensive investiga-
tion into the matter, which led.
them to a business establish-
ment located off Queen's High-
way in the Commercial Zone,
where a number of the stolen
items were recovered and a
trailer impounded.
"An employee of the said
company was arrested in con-
nection with the matter and was
present when the trailer was
opened and unloaded at the
police compound, where the
remainder of the stolen items
were discovered inside."
The 27-year-old Drake
Avenue resident is expected to
be formally charged in connec-
tion with the matter today.







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PAGE 2, MONDAY, JULY 16, 2007


THE TRIBUNE






THE TIBUNEMONDA, JUL 16,C007,NAGES


* In brief

19-year old

stabbed

standing

near home
A 19-YEAR-OLD man is in
hospital after sustaining several
stab wounds during an attack
on Saturday.
According to press liaison
officer Asst Supt Walter Evans,
the young man was standing
"not too far away" from his
home in Centreville at around
6pm when he was assaulted by
an unidentified male attacker.
The attacker was armed with
a knife and stabbed the 19-year-
old several times, Mr Evans
said.
The young man was taken to
Princess Margaret Hospital,
where he is currently being
treated for his injuries.

Armed men

rob resident

of Coconut

Grove.
POLICE are searching for
two men who robbed a resident
of Coconut Grove at gunpoint
on Friday night.
It is reported that the resi-
dent was, standing outside his
house at around 11pm when
two men approached him.
One of the men was armed
with a handgun, the other with a
knife.
They robbed their victim of
$350 in cash and his cellular
phone before fleeing on foot.
Investigations into the mat-
ter continue.

US lifts ban

partially on

mangos.

from Haiti
N HAITI
Port-au-Prince
THE United States has par-
* tially, Jifted a )b0an on 'ango
impQO~ts froni Haiti, that was
.imposed after fruit fly larvae
was found in three shipments
sent to Florida, Haiti's ambas-
sador to Washington said Fri-
day, according to Associated
Press.
US agriculture investigators
currently in the Caribbean
country inspected and certified
three of the nine treatment
plants designed to rid Haitian
mangos of pests, allowing them
to resume shipments immedi-
ately, Ambassador Raymond
Joseph told The Associated
Press.
Three other treatment facili-
ties will be inspected and should
be certified soon, while the
remaining .three, the origin of
the affected shipments, will be
dealt with later, Joseph said
after days of high-level talks
between the countries.
"We wanted to be able to
resume shipments as soon as
possible because the mango is
an important income earner for
the Haitian economy," Joseph
said, adding that the first crates
of the fruit should leave Haiti
next week.
US agriculture officials did-
n't immediately return calls
seeking comment.
US Animal Plant Health
Inspection Service spokes-
woman Melissa O'Dell said the
United States halted Haitian
mango imports after inspectors
in Florida found fruit fly larvae
in three shipments on June 25
and July 2.
Haiti earns between $20 mil-
lion and $40 million per year
for mango export and the US
is its main customer.

Share

your

news
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from people who are
making news in their


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you are raising funds for a
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for improvements in the
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award.
If so, call us on 322-1986
and share your story.


Pesmt~m Comll.0
Tpoicl Exteminato


Christie: FNM focus on solving



crimes, not preventing them


* By ALISON LOWE
Tribune Staff Reporter
THE Ingraham administra-
tion's focus appears to be "on
beefing up the tools to catch
the perpetrators of crimes
rather than on a sustained pre-
vention programme," when it
comes to law enforcement,
said PLP leader Perry Christie
yesterday.
Addressing supporters dur-
ing a Sunday afternoon web
chat, Mr Christie wasasked to
explain the difference between
Urban Renewal and "Com-
munity Policing" the ban-
ner applied to changes imple-
mented by the Royal Bahamas
Police Force since the new
government came to power,
seen by some as a "restructur-
ing" of the Urban Renewal.
Programme.
Yesterday, Mr Christie said
that community policing was
"but one element of Urban
Renewal".
"Urban Renewal included a
significant number of pro-
grammes being co-ordinated
from within the community
itself and led by the police. The
primary focus of UR is on peo-
ple rather than buildings.
"The working task forces
comprised police officers,
social workers, envixonmen-
tal health officers and volun-
teers from the community,"
he said.
According to the former
prime minister, the involvement
of the police in "every aspect of
community development
(allowed them to) forge a pos-
itive relationship with the mem-
bers of those communities". .
He accused government of
"a total lack of understanding
by the current administration
as to what Urban ReneWal
really is".
He added: "If they do'
understand, their attempt to


dismantle it under the guise of
improving it is totally irre-
sponsible and uncaring."
The Urban Renewal Pro-
gramme, which has now
become something of a politi-
cal football, won international
awards and praise.
Under the FNM, it was
claimed that Urban Renewal
would continue, but not nec-
essarily in the same structure
as before.
, Minister of National Secu-
rity Tommy Turnquest had
stated that police must do
"police work". &
Some police officers were
removed from Urban Renew-
al centres around the island in
recent weeks as senior police
said the most effective means
of fighting crime was ensuring
constant police presence "on
the streets".


However, days after the
murder of David Rolle on the
steps of an empty Nassau Vil-
lage Urban Renewal centre -
at a time when there would
previously have been officers
occupying the building -
assistant commissioner Mar-
vin Dames stated that officers
were in fact on site at many
centres across New Providence
again.
Urban Renewal was previ-
ously touted as the "brain-
child" of Mr Christie, setting
out to tackle inner city prob-
lems such as crime and anti-
social behaviour with a com-
bined effort between police
and social workers.
However, .controversy was
stoked two weeks ago when
minister of housing and nation-
al insurance Kenneth Russell
claimed that the FNM was the


architect of the programme.
During last week's web chat,
Mr Christie has described such
a suggestion as "laughable".
Yesterday, Mr Christie said


that the initiative, along with
the proposed National Health
Insurance scheme was intend-
ed to create a "secure future
for... young and old".


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MONDAY, JULY 16, 2007, PAGE 3


THE TRIBUNE







PAGE4,MONDAYJIUTLY6,L2T00TETOTRIEDTORBUNE


ADRIAN GIBSON in his column, "Young
Man's View", published in The Tribune on Fri-
day, discussed former prime minister Perry
Christie's future as leader of the PLP.
There are those, including Mr Christie, who
believe that despite his party's recent defeat at
the polls, Mr Christie should remain as its
leader. Others think he should resign to make
way for a more.decisive leader.
After listing Mr Christie's accomplishments
during his five year tenure as prime minister, Mr
Gibson commented: -
"With that said, as with most former leaders
of countries that suffer election defeats, Mr
Christie must begin grooming potential succes-
sors and should step down in the coming
months. In Canada, which is also a parliamen-
tary democracy that adheres to the statutes for
the Westminster system, when.the Liberal Par-,
ty was ousted former Prime Minister Paul Mar-
tin not only relinquished his post as parliamen-
tary leader, but also resigned as party leader.
Martin's resignation came within two months of
his party's defeat."
All this is true, but Mr Gibson did not have to
go as far afield as Canada for an example of
what is expected under the Westminster sys-
tem when a party leader fails to lead his party to
victory at the polls.
When the polls closed in 1987, announcing
that the FNM had lost once'again to the goy-
erning PLP, FNM leader Kendal Isaacs
announced his resignation..He said he,Wasslep-
ping down to make.way for the more. forceful
figure of Cecil Wallace-Whitfield to lead the
party's post election battle'for the government.
The interesting point to note under the West-
minster tradition is that only a prime minister
who leads his party to defeat at the polls is
expected to offer his resignation immediately. .
Not so an opposition leader. But in the inter-
est of his party and the country, Mr Isaacs (lat-
er Sir Kendal), although not obliged to do so,
decided to bow out to make way for a younger,
more dynamic man.
This was Sir Kendal's second defeat as party
leader in a general election. The first defeat
was in 1982. On that occasion he picked up the
pieces and soldiered on until the 1987 election
when he gave up his leadership role, but
remained in the House as MP for Delaporte.
At the time Arthur Foulkes (now Sir Arthur),
who was then FNM spokesman, explained that
"Mr Isaacs felt that at this particular time, Mr
Whitfield-would be a better person to lead the
party."
Today, Sir Arthur will tell you that the FNM
made tremendous strides under Sir Kendal in
both of those elections. For the first time, since


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the FNM's internal split into two parties, Sir
Kendal led a once-again united party to gain 11
seats in the House.
"It was the first time," said Sir Arthur, "that
we got a solid foothold in the House and we
were very pleased." In the 1987 election, the
party won 16 seats.
Sir Arthur said that the real reason for Sir
Kendal's resignation was that he could not
understand after all the exposure of corruption
in the 1983/84 Commission of Inquiry into the
transshipment of drugs, accusations that went as
high as Cabinet level, that the Bahamian people
could possibly return the PLP government. In
1982 he had called for parliament "to be dis-
solved as soon as possible to save the country's
image" and the integrity of its institutions. He
was referring to another scandal the Manila
affair for 'which the PLP government was
forced to appoint a select committee to investi-
gate allegations of payoffs to Cabinet members
and civil servants.
Sir Kendal could not understand how
Bahamian voters would not reject such base
corruption. Instead of losing faith in the people,
he lost faith in his own leadership.
Sir Arthur said that the blame did not rest
with Sir Kendal, but with the corrupt 1987 elec-
tion. "We knew that the elections were cor-
rupt," said Sir Arthur, "but it was not until the
elections were over that we learned the depth of
their crookedness."
At the time the FNM said that it lost the
election because of massive, frauds, multiple-
voting and chain balloting.
"Mr Isaacs is a good leader," said the late Sir
Cecil.Wallace Whitfield on June 25,1987, short-
ly after Sir Kendal's resignation. "He did a good
job. It's unfortunate that the elections were
cheated from underneath us. I don't blame him
for the FNM loss. The loss is attributed to the
fraudulent manipulation of the system to pro-
duce a fraudulent result."
As an Opposition leader, Sir Kendal did not,
have to resign. However, he sincerely believed
that he owed his party a second chance to mend
its fences, and gather its forces under a stronger
leader. Sir Cecil did not live to.see that victory.
It was left to Hubert Ingraham, once a leading
light in the Pindling cabinet, to lead the FNM to
its 1992 victory over a corrupt government that
had earned .a "nation for sale" label for this
country.
"Let the chips fall where they may," said a
disillusioned Hubert Ingraham when the 1984
Commission of Inquiry found so many in' the
PLP government smeared with the drug scandal..
In 1992 the "chips" fell, chasing Pindling and his
colleagues from the seat of power.


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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

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

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


EDITOR, The Tribune.
ONE of the principles of life
embedded in my character since
I was a child by my wise old
grandmother, Vera Hanna was
simply this, "where ignorance
is a bliss, 'tis folly to be wise".
This philosophical approach to
any crisis situation would be a
wonderful tool for those in
charge of administering the
affairs of the Bahamas. All too
often, what is required is simply
a commonsense solution to
much of the nation's problems.
The foundation of our
democracy is that the govern-
ment is a representation of the
wishes of the people and not
the other way around. This is
probably why President Abra-
ham Lincoln came up with that
famous saying, "a government
of the people, by the people and
for the people!" The govern-
ment by its very definition must
act in the best interest of the
people to ensure their well-
being. If there is a doubt, then
the citizen must be given the
benefit of the doubt, and that
doubt must be resolved in
favour of the citizen. This is true
even with Criminal Law as any
ambiguity in the Law is resolved
,in favour of the criminal. Failure
to do so could result in the rea-
sonable conclusion that those
promoting such interpretation
not in favour of the defendant is
guilty of violating the rights of
that individual.
This past weekend, Bahami-
ans from all walks of life pre-
pared to celebrate the 34th,
anniversary of Independence.
For the sake of national unity,
everyone was encouraged to set
aside their petty differences and
to display a sense of unity and
patriotism on this historical
milestone. Every Bahamian was
expected to celebrate in their.
own special way. For many
Bahamiains and tourists alike,
this meant spending the week-
end on that sweet little island
that we affectionately call "Bii-
land". This is the island that
knows how to party and visitors
can enjoy themselves in a safe
and hospitable environment
where the locals have an inter-
national reputation for friendli-
ness. Furthermore, this is the
island with the best tourism
product in terms of repeat busi-
ness or visitor satisfaction, not
just in the Bahamas, but in the
entire region. And so they came
to 'Briland in droves. It seems
that anything floating or smok-
ing was a vehicle to get to this
Bahamian paradise. The two
major marinas were crowded
with pleasure crafts and it was
almost impossible to get a seat


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on a plane or the Bahamas Fast-.
ferry's flagship, "the Bohengy".
The hotels reported a healthy
booking. The venue was set for
what most expected to be a
wonderful weekend of celebra-
tions.
Regrettably, while persons
were planning their weekend of
fun and frolic in 'Briland, there
were those bureaucrats in Nas-
sau who were conspiring to ruin
the weekend on 'Briland.
Unknown to local authorities
in 'Briland, at the highest level
of the Police Force, plans were
being made to close down all
of the Bahamian owned liquor
establishments on 'Briland. This
malicious plan was to be exe-
cuted after 5pm on Friday after-
noon, July 6, 2007. Should an
establishment be found in
breach of their licence, no mat-
ter how minor the infraction,
they would be closed down for
the entire weekend. As all Gov-
ernment offices would be closed
for the weekend, they would
have to wait until Monday, July
9, before they could remedy
their situation. This action of
acting as Judge, Jury and Pros-
ecutor is most unfair as it vio-
lates the Rules of Natural Jus-
tice. The punishment of busi-
ness loss for that weekend for
even a minor infraction of the
licence is most unjust as mer-
chants had invested a signifi-
cant amount of monies in stock
in anticipation of a busy week-
end.
The administration of this
injustice was swift and without
mercy. The historic Vic-hum
Club, JJ's, Seagrape's (home of
the musical group The 'Brilan-
ders) and Grant's.Liquor Store
were all summarily closed.
No reasonable protest was
accepted by Assistant Commis-
sioner of Police James Carey,
the top Cop for the Out Islands
who led this operation. All the
proprietors involved in this
exercise felt that the Police were
rude and unprofessional while
in the execution of their duty.
It appears that the fact that
they were from Nassau, they
were there to flex their muscles.
One proprietor expressed that
these actions were extreme and
that any individual "living or
dead" would consider these
actions wrong! Even Gusty's
who had all of their papers in
order were ordered to open
their club so that the license
could be examined. Strong
issues were taken with the fact


that only the local Club and Bar
owners were harassed by the
Police. Not a single foreign
owned Bar or Club was
approached for any possible
violation of their licence. This
insensitive action by the Police
has only served to further divide
the community. Rather than
trying to work together, it is
now them against us. None of
the proprietors denied that they
were in breach of their licence,
it was just something that they
didn't get around to do. Also, it
was speculated that a certain
club was the target of this sting
because of their politics. How-
ever, this idea was soon dis-
missed as businesses across the
board representing both major
political parties were interro-
gated.
The consequences of this out-
rageous action was simply a dis-
astrous pre-Independence
weekend in Harbour Island.
Some of the disappointed visi-
tors just simply packed up and
left as some of the reasons why
they were in 'Briland were
closed. Those bureaucrats in
Nassau should be mindful of the
fact that Harbour Island pays
more than its fair share to the
national Treasury. This contri-
bution helps to pay their
salaries.
Harbour Island has achieved
the number one status in the
region on its own, as the Min-
istry of Tourism did not have a
representative there until 1995.
The Central Government
should not interfere with its
progress. After all, isn't that
why Local Government was
created? Furthermore, Harbour
Island provides employment for
many persons from the
Eleuthera mainland. Any down-
turn in business on Harbour
Island could have a ripple effect.
Steps must be taken to ensure
that this undesirable situation
does not occur in future. A clear
understanding of the proce-
dures involved must be estab-
lished so that there are no sur-
prises. It is so ridiculous that
because someone didn't pay a
$20 licence fee that their whole
business should be hijacked and
held hostage by authorities who
refuse to look at the bigger pic-
ture.
Local Government was intro-
duced to bring the administra-
tion of the people's affairs clos-
er to the people, yet the Local
Government was not consulted
on this move in Harbour Island
until after the fact.
DR LEATENDORE
PERCENTIE
"Briland"
July 10, 2007.


A 'disastrous




pre-independence




weekend on Briland'


PLP faces leadership decision


PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, ROSE
MARIE CASIMIR of the Central District of New
Providence intend to change my name to MARIE
ROSE CAZIMIR. 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.


Simone "Cookie" Francis

An Engineering and Math major who received Honor
Awards from the College of Science and Technology at
Savannah State University in Savannah Georgia USA, for
academic excellence for the Spring and Fall Semesters of
2006.

Coming from her proud mother Sonja, grandparents
Roscoe and Agatha Francis, Brother Jahred, aunts and
uncles


PAGE 4, MONDAY, JULY 16, 2007


THE TRIBUNE







THETIBUNEMONDAYJULY16,2007,PAGCA EE5I...


0 In brief

Forecasters
say no La Nina
- but still
active season


* MIAMI


Stern 'given leave to sue'




over Eastern Road home


THE US National Oceanic
and Atmospheric Administra-
tion has predicted that La Nina
- a cooling of Pacific Ocean
waters that generally brings a
more active Atlantic hurricane
season will be absent for the
next two months, according to
Associated Press.
But the absence of La Nina
does not necessarily herald a
tame summer for tropical
storms and hurricanes, said
Dennis Feltgen, meteorologist
and spokesman for. NOAA in
Miami.
"There are so many other
ingredients that contribute to
the development of tropical
cyclones, it's not just the fact
that we don't have a La Nina
that comes into play here," Felt-
gen said.
Hurricane season 2005 was a
textbook example of this. La
Nina wasn't around, but the sea-
son managed to break records,
with 28 named storms, including
15 hurricanes, seven of which
were major.
La Nina is the counterpart to
the better known El Nino, a
warming of Pacific waters near
the equator that creates a less
conducive environment for
tropical cyclones in tht Atlantic.
Both ocean conditions are hard
to predict long-term and don't
follow regular patterns.
This year, forecasters have
predicted an above-average
hurricane season, which runs
June 1 through November.
They believe there will be 13 to
17 named storms, with seven to
10 of them becoming hurri-
canes.

Bishops meet
with Cuban
government
on relations
* HAVANA
ROMAN Catholic cardinals,'
and bishops frorii across Latin
America and t6p'Cuban offi-
cials discussed how to improve
relations between the church
and the communist government
but avoided thorny topics such
as. hurfian rights and free
speech, according to Associat-
ed Press.
The closed-door talks took
place during a four-day Latin
American Bishops Conference,
which brought about 70 bish-
ops from the region to Havana
and ended Friday. Conference
President Raymundo Damas-
ceno Assis, archbishop of the
Brazilian shrine city of Apare-
cida, said four cardinals and sev-
eral bishops met with Cuban
Vice President Carlos Lage and
other officials.
"It was the first dialogue, the
first of what we hope will be
many between the church and
the government," Assis said at a
news conference Friday.
Bishop Emilio Aranguren, of
the Cuban province of Holguin,
said the meeting further
improved a relationship that is
"purifying itself of prejudices."
He said Cuban officials
agreed to allow Catholic leaders
to provide religious instruction
to foreign youngsters who come
to the island as exchange stu-
dents. Both sides also discussed
the possibility of easing bans on
Catholic and other religious
schools.
Aranguren said the church
also asked the government to
allow its leaders to play a more
active role in prisons, not only
ministering to those behind bars
but also their families.


Share

your

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


IKZS.l~


EXERIAIR


HOWARD K Stern, who is
still residing in New Providence,
has reportedly been given leave
by the Supreme Court to sue
South Carolina developer G
Ben Thompson and his lawyer
Godfrey "Pro" Pinder for tres-
passing on the Eastern Road
property "Horizons" as well as
for contempt of court.
In an exclusive report
obtained from one of its corre-
spondents, Entertainment
Tonight claimed that Mr Stern -
long-time lawyer and partner
of the deceased Anna Nicole
Smith has been given the
"greenlight" to legally retaliate
against those who called him a
"squatter."
According to Entertainment
Tonight Mr Stern can report-
edly now ask the courts to have
Mr Thompson and Mr Pinder
jailed for trespassing and for
violating injunctions which
banned them from entering the
"Horizons" property.
The battle for the $1-million
mansion began while Ms Smith
was still alive.
Former boyfriend and real
N HOWARD K Stern estate developer G Ben Thomp-


Leslie Miller alleges instances of

victimisation by FNM supporters


* By ALISON LOWE
Tribune Staff Reporter
PLPs spoke out again over
the weekend about alleged
victimisationn" of those who
support the party at the hands
of FNMs since the Ingraham
administration took power.
Speaking on radio show
Parliament Street on Sunday,
former minister of trade and
industry Leslie Miller said that
he is concerned about the
"fear that has been ingrained
in the minds of the average
Bahamian since the 2007 elec-
tion".:
"People' have been dis-
placed from (their jobs) since
May 2 just arbitrarily sent
home and, it bothers me,"
he said.
He said that he has spoken
with his colleagues about the
alleged partisan firings, and
claims that if the practice con-
tinues to occur, PLPs may
have to "march on Bay
Street" to send a message to
Mr Ingraham, the "great
whites as well as the coloureds
who are aligned with them,
that this country belongs to
Bahamians of all areas of life,
not just those who put up the


money to allow the FNM to -
win". P
Former prime minister Per-
ry Christie also spoke about -"
victimisation on his weekly
web chat, stating in response
to a query from a supporter
as to why the PLP was not
"exposing publicly'' examples
of PLPs allegedly being
wrongfully dismissed that his
party intends to speak about
the matter "in a public forum
very soon".
"We find the new FNM gov-
ernment's behaviour, in this
.regard, to be extraordinarily
divisive and harmful to' nh' f 'y r .
families. We have spolken'iod U LESLIE.Miller
a number of persons wh& RiVe
been affected and they are
deeply concerned by the fact
that their future has been
plunged into deep uncertain-
ty," he said.
Mr Miller said that Prime
Minister Ingraham and some
of his colleagues must get the
message that you cannot vic-
timise black people in this
country.
"Be very careful how you
try to displace the small man
in this country, because at the
end of the day they're going
to try to turn on you," he said.


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son claimed that the property
was a loan to Ms Smith. He
claimed that he never received
the agreed payment for it.
Ms Smith, and later Mr Stern,
maintained that the home was a
gift from Mr Thompson.
The former Playboy Play-
mate's signature is reportedly
on the deed to the house.

Lawsuit

Late last year, Ms Smith ini-
tiated a lawsuit against Mr
Thompson for a declaration
that she was the rightful owner
of "Horizons."
Mr Thompson in turn sued
Ms Smith for title to the home
and attempted to, unsuccessful-
ly, have her evicted from the


premises.
However, Bahamian judges
issued injunctions banning any-
one from entering the property
until the lawsuit over the home-
's ownership was settled.
The Supreme Court order,
given to Entertainment Tonight
by correspondent Art Harris,
cites Mr Thompson's and Mr
Pinder's "joint and individual
breaches" of those injunctions.
According to the order,
signed June 19, Mr Stern can
apply for "an order of commit-
tal" or contempt, against Mr
Thompson and his lawyer Mr
Pinder on the grounds of being
in breach of the rulings which
were given by the Bahamian
Supreme Court in November
of last year and in February this
year.


1r r


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MONDAY, JULY 16, 2007, PAGE 5


f '%


THE TRIBUNE






PAE ,LONAYCJLL1,207THETWBN


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The


PAGE 6, MONDAY, JULY 16, 2007


THE TRIBUNE


~I~A~M~











Festival sizzles in the sun


Tourists and Bahamians pack into Arawak


ICay for Junkanoo


*9
' ^*JS ^K\
".9Y^V


festival at the weekend
(All photos: Felipj Major/Tribune staff)


US Southern utilities,

lawmakers resist call

for renewable power
WASHINGTON
- SIX of the United States'
-0 largest sources of carbon
'.."dioxide emissions are coal-
fired power plants in the
South, but year after year
Southern lawmakers balk at
pushing utilities toward clean-
er renewable energy, accord-
ing to Associated Press.
Last month, Republican
senators from the South pro-
vided about half the votes
that defeated federal legisla-
tion to require power compa-
nies to get 15 percent of their
electricity from renewable
sources by 2020. Nationally,
almost half the states have
adopted their own renewable
mandates, but only one,
Texas, is in the South.
Southern lawmakers -
responding to heavy lobbying
from local utilities argue
their region is not conducive
to solar or wind power like
the sun-baked Southwest or
the open plains of the West.
But many leading scientists
and environmental advocates
say Southern states have
plenty of alternative-energy
potential. Utilities have sim-
ply grown comfortable with
cheap, dirty coal and have not
been forced to change, they
say.
"If you look at other
regions of the country where
renewables have taken off,
it's been because of man-
dates, and that's why you
haven't seen it take off in the
South," said Nicholas Rigas,
director of the South Carolina
Institute for Energy Studies
at Clemson University. "Once
the development starts it will
be just as successful as it is in
other states."
The South has long relied
on coal for electricity. Its two
largest utilities,- Atlanta-
based Southern Co. and Char-
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MONDAY, JULY 16, 2007, PAGE 7


. THE TRIBUNE












Has the United States gone bananas?


* By Sir Ronald Sanders
(The writer is a business exec-
utive and former Caribbean
Diplomat)

IN a most remarkable
development following
closely on the heels of a meeting
in Washington between US
President George W Bush and
heads of government of
Caribbean Community (CARI-
COM) States, the United States
has taken an action at the


World Trade Organisation
(WTO) that will hurt the
economies of Caribbean banana
exporting countries.
The United States, which
does not export bananas, lodged
a complaint on June 29th to the
WTO against the banana
importing regime of the Euro-
pean Union (EU) saying that it
harms exports from Latin
American nations such as
Ecuador, Honduras, Panama
and Nicaragua.
.On July 12th, the Dispule
Settlement Body of the WTO


agreed to set up a panel to
examine the US complaint
against the EU banana regime.
Undoubtedly, the decision of
the Panel will go the route of
every other panel that has pro-
nounced on this issue since May
1997: it will instruct the EU to
change its banana importing
regime to stop any advantage,
however miniscule, that
African, Caribbean and Pacific
(ACP) states enjoy.
This is because WTO rules
- made up largely by the
world's richest nations espe-


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Minister of Tourism and Aviation
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cially the US and the EU -
states in general terms that the
rules apply equally to all how-
ever large or small, rich or pcor.
In this connection, the EU
banana importing regime would
be wrong to give any advantage,
however slight, to small and vul-
nierable countries.

he EU regime, which
has been battered since


Reading the
text of the US
complaint to the
WTO, it is quite
remarkable hoW
bereft of any
embarrassment
the USTR's
office can be.


1997 because of challenges at
the WTO led by the US, does
give a little advantage to small
Caribbean countries to supply a
miniscule amount of the EU's
banana imports. And, this is the
point: it is a little advantage for
only a very small share of the
market. Equity and fairness
should dictate that a little
advantage in these circum-
stances is wholly acceptable.
In the process of these chal-
lenges, CARICOM banana
exporting countries saw the
industry decline, foreign
exchange earnings decrease and
unemployment rise. The lives
of simple people were thrown
into confusion.
If this most recent request by
_...theVJS government for a WTO
Panel wasn't so seriously harm-
ful to small Caribbean coun-
tries, it would be laughable.
Just imagine; the US appears
to be defending Nicaragua
against the CARTCOM states.
Yet, it is the Nicaraguan gov-
ernment that has joined
Venezuela's President Hugo
Chavez in denouncing the Bush
administration and in creating
the Bolivarian Alternative to
the US initiative for a Free


Trade Area of the Americas.
The reality, however, is that it
is not any of the Latin Ameri-
can nations named in the com-
plaint that the US is trying to
protect; it is US multinational
companies such as Chiquita that
have large banana plantations
in these countries.

t was these multination-
als who were behind the
first US complaint to the WTO
back in 1995.
Election campaign contribu-
tors to both the Republican and
Democratic parties, the multi-
nationals called in their chips
with former US President Bill
Clinton whose Democratic Par-
ty administration lodged the
first complaint that began the
crippling of the banana industry
in CARICOM states. They fol-
lowed up with the Republican
Party administration of George
W Bush.
The insatiability of these
multinationals is astounding.
Latin American banana
exports to the EU largely
from the plantations controlled
by Chiquita, Dole and Del
Monte already have four-
fifths of the market. The
remaining paltry one-fifth is
shared between the ACP coun-
tries.
How much more can they
possibly earn from another one-
fifth of the market, -and have
they no care for the small farm-
ers in the ACP markets,who
barely eke out a living from
their hard toil?
And what about the US
itself? Could the US Trade
Representative's office not seek
to persuade the US multina-
tionals not to wound small
farmers in the ACP more than
the thousand cuts they have
already been dealt and from
which they are steadily bleed-
ing?
The answer is self-evident.

Reading the text of the
US complaint to the
WTO, it is quite remarkable
how bereft of any embarrass-
ment the USTR's office can be.
Having refused itself to com-
ply with a WTO Panel ruling
that found against the US and
in favour of the small Caribbean


* SIR Ronald Sanders


island, Antigua and Barbuda,
over internet gaming, the
USTR's office boldly states in
its complaint against the EU
banana regime that: "The EC
failed to bring its import regime
for bananas into compliance
with its WTO obligations by the
end of the reasonable period of
time." It seems that rules can
be conveniently invoked and
even more conveniently
ignored.
In all of this the ACP States
and the poor farmers who are
affected by the process are
bystanders. On the face of it,
they are not the party about

African,
Caribbean and
Pacific countries
and their
small banana
farmers would
be justified in
feeling let down
by the US.


whom the complaint is being
made. The matter is between
the US and the EU neither
of whom will lose anything -
and the ACP has no standing
in the matter except as its vic-
tims.
African, Caribbean and Pacif-
ic countries and their small
banana farmers would be justi-
fied in feeling let down by the
US. If there ever was a moral
case for claiming that a coun-
try has gone "bananas", this
surely must be it.
Responses to: ronald-
sanders29@hormail.com


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THE TRIBUNE


PAGE 8, MONDAY, JULY 16, 2007








Artists stepping up to

express themselves


* MARION Dussie, a college student with Bahamian ancestry, from Opa Locka, Florida, shares a
poem written by her Bahamian aunt during the latest session of "Express Yourself," on July 4,
2007. The event, held at "Da Island Club" in the Nassau Beach Hotel, is an open mic forum for
poets, musicians and performance artists to share their work. The next session will take place
Wednesday, July 18,2007, at 8pm.


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SAUDIENCE members listen to poets and singers


* SONIA Farmer reading one of her long-form poems
(Photos: Eric Rose)




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: THE TRIBUNE


MONDAY, JULY 16, 2007, PAGE 9





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THE Redliners Bike and
Sunshine Auto Annual Bike
and Car Show was held over
the weekend.
Asylum Sounds and Akenah
Modeling Agency teamed up
with Redliners Bike Club for
their first ever annual event,
dubbed "The Two Hottest Days
Of Summer", featuring models
from Akenah Modeling Agency
at a bikini pool party on the sec-
ond day.
The first day's events were
held at R M Bailey Park, and
there were prizes and surprises
for those at the event.
Those with the best street
bike, best trail\motard, four-
wheeler cruiser and even the
best bicycle and pocket bike
also received a prize.
According to Vado Culmer,.
president of Redliners: "Our
aim is to promote community
awareness, safety and a positive
outlook towards the motorcy-
clists. Motorcyclists in the past
have received a bad rap and
Redliners are trying their
endeavour best to counteract
that, by encouraging riders to
ride safely, reduce speed and
wear helmets. Over the past
three years the event has
become quite successful and I
thank both the sponsors and the
patrons for that."
Part of the proceeds from the
Bikini Biker Pool Party will be
donated to the Children's
Emergency Hostel.
Asylum Sounds. CEO Alton
Mckenzie said: "I am pleased
to finally being able to see my
dreams come true which is to
donate some of the proceeds of
the party to a worthy charity
and to encourage other
Bahamian promoters to do the
same."
This year, City Markets came
on board and will also be donat-
ing to the hostel, as will the
Back Yard, Boyz, who enter-
tained the huge audience last
year on R M Bailey Park by
,participating in an unscheduled
Sound Clash with One Dwight,
which they won.,;
Asylum Sounds thanked all
companies and individuals who
decided to assist in donating to
a worthy cause,


.: ; Village Road. Phone 393-5310. Open 8:30AM. 5:30PM.


Bahamas

Depot


Share
your
news
The Tribune wants to hear
from people who are
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neighborhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an
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THE TRIBUNE


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THE TRIBUNE MONDAY, JULY 16, 2007, PAGE 11


Police hold annual reception

for Independence celebrations











S, '"





* GEORGE Mosko, the largest contributor to the cost of contracting the new police conference
centre at the police headquarters on East Street, talks with Governor General Arthur Hannp and
Commissioner Paul Farquharson


* CHIEF Superintendent
Hendrick Nairn receives a
silver salver commemin
his years of service to
police from Governor c ral
Arthur Hanna. Mr Hendrick
used to head the SIB in Grand
Bahama.


* FORMER Chief
Superintendent Ivan Taylor,
Commissioner Paul
Farquharson and former
deputy superintendent of
Police Alfred Williams at
the annual police reception
following Indepedence Day at
the police conference centre.
Mr Taylor brought down the
British flag and Mr Williams
raised the Bahamian flag.
(Photos: Franklyn G
Ferguson)


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THE TRIBUNE


MONDAY, JULY 16, 2007, PAGE 11








PAGE 2, MODAY, ULY 6, 207LTHEALlBUEEWS


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Harbour Bay. Pa mnate.Solder f. and Town Centre Mall.
Employees of Lowe's Whoesae, Lowe's Parmacy and their
nm"tite te*,taly amr not oltoaS ftl toi y.


FROM page one The
15.5 per cent to $334.5 million
during the first three months of agencies, the N.
2007. by 1.1 per cent
Increased wages and salaries first quarter tc
were cited by the Central Bank billion just s
as one of the driving forces And this was
behind this. cent decline in
And capital spending lic sector debi
increased by 15.4 per cent to the Governmen
$36.1 million during the 2007 first quarter, ii
first quarter, due to more spend- progress has ye
ing on infrastructure projects. reining in the n
The Central Bank said that at sistent fiscal d
March 31, the Bahamian gov- ernment spend
ernment's direct debt stood at The Central
$2.423 billion, having risen by the Bahami
1.7 per cent during the 2007 first growth "mode
quarter, as "elevated levels of' during the firs
recurrent and capital expendi- the construct
tures completely offset" revenue foreign direct
rises. jects picking u
But due to all the borrowing reduced touris
that central government has had slowdown in
to guarantee on behalf of vari- summer spending
ous public corporations and Higher comn


FROM page one

time prior to Friday's media report. Asked if he
could estimate how many people are being pre-
scribed the drug in this country, Mr Lowe said-he
could not say for sure, but noted that it is an
expensive drug choice.
He said he did not believe that a "majority" of
Bahamian diabetes sufferers are curreiitlyrtak-
ing Avandia.
However, Avandia is used to control the blood
sugar levels of more than 2 million people world-
wide struggling with Type 2 diabetes, according to
press reports. Type 2 diabetes is commonly linked
to obesity, which already causes people to be at a
higher risk of heart attacks.
The data indicating a "spike" in the reports of
heart problems in the 35 days following the pub-
lication of an analysis of the drug in the New
England Journal of Medicine on May 21 was
retrieved by The Associated Press through a
Freedom of Information Act request to the fed-
eral Food and Drug Administiption.
According to The Miami Herald, while only


FROM page one

awarded is too low or excessive.
In this case, while Supreme
Court Justice Jeanne Thompson
ruled that Atlantic Oceani View
Limited owner of the Mer-
cedes and Lexus vehicles be
awarded $45,625 for the Mer-
cedes and $54,750 for the Lexus,
based on daily rental values, and
Cadillac owners Little Savannah
Estates and Farms Limited,
$93,075, based on daily rental val-
yes, in addition to $15,000 each
or :each of constitutional right,
lusti"e Longley questioned how
the Supreme Court judge had
arrived at these awards.
According to Justice Longley,
counsel for the two companies
had based the amount claimed
on the allegation that the DEU
and the Attorney General's office
had used the vehicles while they
were in their possession, "thereby
gaining some benefit" from the
cars without having had to pay


national Debt rose
during the 2007
stand at $2.914
shy of $3 billion.
despite a 1.5 per
the level of pub-
t guaranteed by
it during the 2007
indicating that no
et been made on
national debt, per-
leficits and gov-
ling.
Bank added that
an economy's
rated somewhat
st quarter", with
on industry and
investment pro-
p the slack from
m arrivals and a
Bahamian con-
g.
nodity prices also


impacted inflation, while the
slowdown in credit growth
boosted deposits and liquidity
in the commercial banking sys ,
tem.
Construction industry growth,
also slowed down during the"
2007 first quarter, as the number
and value of new building and"'
repair projects fell by 47.8 per
cent and 49.2 per cent respec-
tively.
Total mortgage disbursements, t
declined by 8.3 per cent,
to $133.8 million, due to com-
mercial weaknesses overshad- .
owing residential mortgage bor-'
rowing. 1,
As a result, growth in total"
mortgage lending fell by 4.7 per" '
cent to 13.5 per cent to leave' ",
the total value of outstanding.'
mortgages standing at $2.564 bil
lion at March 31.


Physicians '
five heart attacks were reported by those on the "
drug in the 35 days before the study, 90 were. ,.
reported in the same period after. Meanwhile,' '
heart related hospitalisations went from 11 to,," .
126.
While some have suggested that the sudden', ,.
increase in reports to the federal regulator may b,
due to doctors not being aware previously that
their patient's heart problems could be related to .
Avandia, drug administration and companX,"
spokespeople have suggested the spike could be
due to a "publicity effect."
"This is a very well-known phenomenon," said ."
a Glaxo Smith Kline representative, according",, .
to The Miami Herald. "It's good that there's;
awareness of the reporting system, but drawing.
conclusions on such data is inappropriate."
For now, Avandia remains on the market and
patients are being advised to talk to their doctors,
and not immediately halt use.
Messages left for Minister of Health Dr Hubert
Minnis on Friday were not returned. '
V1` V


Court of Appeal
rent as they would have had to if
they had "lawfully used and
detained" them.
"It was this allegation....that
provided the premise...for the,
submissions that the respondents
were entitled to damages based
on the rate of hire each of such
vehicles would fetch if they were
rented or hired," he said.
However, Justice Longley said
there was "not one shred of evi-
dence." that the vehicles had been
used by the DEU or Attorney
General's office while they were
in their possession.
He added: "The overriding
principle is that an award of dam-
ages must be reasonable. And
each case must be considered on
its own facts. Several factors
which could have impacted the
reasonableness of the award were
ignored by the learned judge."
In addition, he overruled the'


award of $15,000 to each respond, "
dent for a breach of their consti-.
tutional right, explaining that only' "
in "exceptional cases should ther6'e-
be resort to claims based onai'-,(;
alleged violations of the fundar ,.id
mental rights provisions of the ',-,
constitution where parallel claims
exist" so as not to devalue the
currency of constitutional pro,, 0
sections.
In this case, such exceptional
circumstances did not exist, he
said.
The vehicles were said to have
been seized by DEU agents at
the time o Knowles' December
2002 arrest at his home in 4
Eleuthera on a warrant issued i
under the Extradition Act, after
they were found on the premises.'
They were held until June 17t.l.
2003, when lawyers acting for the
companies issued writs of sum-
mons against the DEU and '
Attorney General's office forui:
"unlawful detention of the vehi-
cles" and "exemplary and resti-..-.
tutionary damages."



Two dead

FROM page one

trained injuries. However, they
were treated at the hospital and
have since been discharged.
The weekend's second traffic
fatality occurred yesterday after-
noon at around 2.30pmin
Nicholls Town, Andros.
Chief Supt Glen Miller told
The Tribune yesterday that the'.*.
victim was driving on Queen's' '.
Highway when he lost control o4.
his Ford Taurus, which crashed*
The driver, believed to a Hai|, s
ian national, sustained sever ,.
injuries in the crash. %
"He died on the scene And w49
pronounced dead by a doctor,W,0
Chief Supt Miller said.
Police on Saturday were als,*.,
called to the scene of a two-caf!*
collision on East Street South in.- .-
New Providence, which left two
people injured.
It is reported that at around .*
6.30pm, a white, 1998-model Toy-
ota Camry and a red, 2000-moddl'
S10 Chevrolet truck collided t
while travelling in opposite direct -
tions on East Street South, nearo'
Sapodilla Boulevard..
The pick-up truck hit a guard'
rail following the collision and.
overturned. The driver and his
woAan passenger were injured
in the accident and taken to hos-
pital, where they are still under-
going treatment.


CONSUMER


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What are some of the objectives of the Telecommunications Act? j
To improve the quality and coverage of telecommun-
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To protect the interest of consumers with respect to
prices charged for telecommunications services
To promote effective and sustainable competition In
telecommunication services in The Bahamas

You may contact the PUC Consumer Helpline -
322-7157. Family Island toll free line 1-242-300-0233 or visit our a
office at Fourth Terrace East, Collins Avenue, Nassau for more infor- 3
nation. Also visit our webfite www.pucbahamas.gov.bs


national debt


SandalS Royal Bahamian Resort @ Offshore Island.


Invites applications for the positions of:


SPA DIRECTOR

DIRECTOR of ENTERTAINMENT


SPA DIRECTOR

Applicant must must have at least four years experience as the Director of a
Five star Spa must be able to train and motivate team members, good
track record in Managing people be able to establish and maintain
high standards,. Formal qualifications and computer skills desirable,
be able to work flexible hours.

ENTERTAINMENT
Applicant must have worked as a Director for at least five years
Strong organizational leadership skills must be able to work long
hours must have excellent communication skill

Fax or email rdsum&'s with proof of qualifications and experience to
cmajor~flsrb.sandals.com Fax 327-6961.
Closing date July 20, 2007


~o


PAGE 12, MONDAY, JULY 16, 2007


THE TRIBUNE--


LQ.'lia~F~"$


11. v
. P-11ft-l"


IV






THE TRIBUNE MONDAY, JULY 16, 2007, PAGE 13
C A


Ihdian High Commissioner

visits Education Ministry


* DIRECTOR of Education
Lionel Sands, Kailash Lal
Agrawal, the High Commis-
sioner of the Republic of
India, and permanent secre-
tary Sherylee Smith
COURTESY CALL On
Wednesday Kailash Lal Agraw-
al, the High Commissioner of
the Republic of India, paid a
courtesy call on Education Min-
ister Carl Bethel, who in his
absence was represented by act-
ing Permanent Secretary, Ms
Sherylee Smith and Director of
Education, Mr Lionel Sands.
Mr Agrawal told them that his
country was interested in fos-
tering a more meaningful rela-
tionship with the Bahamas in
the field of education. Distance
education and training were cit-
ed as potential areas for coop-
eration. Mr Agrawal said that
India'has training in the areas of
Mathematics, Science, Techni-
cal arid Vocational studies and ,
Information Technology from
which he thinks the Bahamas
could'benefit. He said that oth-
er goRernment ministries have
already benefited from the
learning opportunities present-
ed, blt he would like to open up
these opportunities to more
Bahqmians for greater interac-
tion-between India and the
Bahalmas.
Vr Sands told the High
Commissioner that there are
already some Indian educators
in th Bahamas' public educa-
tion system who have adjusted
well and are doing commend-
able jobs in their various subject
areas.
Ms Smith, Acting Permanent
Secretary, thanked Mr Agrawal
for his interest in partnering
withithe Ministry of Education,
Youth, Sports and Culture to
promotee education and assured
him that his- .proposal would be
looked at very seriously.


Share

your

news
Thl Ttbi~iing'aSts t6hear'
from people who are "
making news in their
neighborhoods .Call us'"
on.322-1D86 and share
your story. ,


Senior Relationship Manager,
Global Private Banking
The successful candidates should possess the
following qualifications:
University degree in business or finance (or
equivalent)
Must hold a diploma from the Canadian
Securities Institute or Series 7, or equivalent,
C.P.H. would be an asset
Strong investments knowledge and experiences
working in a securities environment would be a
key asset
At least five years experience in a private client
relationship management role
Demonstrated sales success and self-motivated
individual confident to work in a variable
compensation environment
Computer literate
Fluency in French and Spanish is a requirement
Strong communication skills in Eniglish, French,
and Spanish
Willing to work long hours to accommodate
clients located in different time zones
Trust knowledge is an asset
Please apply before July 21,2007 to:
The Manager, Global Private Banking
Royal Bank of Canada Trust Company
(Bahamas) Limited
P.O. BoxN-3024
Nassau, N.P., Bahamas .
J : Viafaxa(242) 327-7382 1
.-Via email: tarla.jdckson@rbc.gom


MONDAY, JULY 16, 2007, PAGE 13


From I to r: Todd Anderson, Vice; President Renal Dynamics; Sister.Christine
Femander, Nursing Officer PMH; Christopher Davenport, Director of- Sales &
Services Renal Dynamics, Mark Roberts, TileKing/FYP.
h f "


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Because of your generous support,

we have spent $164,000

to purchased 8 new Dialysis Machines
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Realtor attends luxury home course


FREEPORT Lanelle
Phillips of Lanelle Phillips Real
Estate recently completed a lux-
ury home marketing training
course offered by the institute
for Luxury Marketing.
The course, Certified Luxury
Home Marketing Specialist,
which covered such topics as
demographics of the affluent,
lifestyle segmentation, trends
and amenities in today's luxury
home product, and creating a


marketing plan for the multi-
million dollar property and was
taught by Laurie Moore-Moore,
President of the Dallas-based
Institute and author of the
book, "Rich Buyer, Rich Seller!
The Real Estate Agents' Guide
to Marketing Luxury Homes."
"The course is a step towards
earning the prestigious Certi-
fied Luxury Home Marketing
Specialist designation which
The Institute awards interna-


tionally to sales professionals
who meet performance stan-
dards in the upper-tier residen-
tial market," said Moore-
Moore. "Lanelle Phillips is an
example of a sales associate
who works to hone the special
skills and competencies neces-
sary to provide exceptional ser-
vice in the fine homes and
estates marketplace."







The
Th -Way

4-Test
of things we
think, say or do
1. Is it the TRUTH?
2.Is it FAIR to all
concerned?
3. Will it build
GOODWILL and
BETTER
FRIENDSHIPS?
4. Will it be
BENEFICIAL to
all concerned?
www.rotary.org


Ms Phillips is an award-win-
ning sales associate who has
been in real estate since 1998
and specializes in the Grand
Bahama and Out Island mar-
kets. Ms Phillips, who opened
her own real estate company
this year. was formerly with
Harry Dann and Co. and suc-
cessfully launched the well-
respected H.G. Christie Real
Estate Company in Grand
Bahama where she was District
Manager and eventually was
promoted to Regional Manager.
"The training provided new
insight about the upper tier
market, helped me polish my
skills, and provided valuable
networking contacts with oth-
er agents across the country that
specialize in luxury properties,"
she said. "In addition, I discov-
ered new and creative tools for
promoting expensive homes
and estates and new resources
for finding buyer prospects.
Home buyers and sellers will
benefit from my new knowl-
edge."
Phillips says she is also com-
mitted to continuing the edu-
cation of all her agents, consul-
tants and apprentices. "This is
the first of a series of courses I
am taking; my staff will also be
working to improve their own
resources and education in the
real estate market."


* LANELLE Phillips, President of Lanelle Phillips Real Estate,
recently completed her certification, in Luxury Home
Marketing. Ms Phillips, who recently opened her own agency ifn
Grand Bahama, has more than nine years in real estate and is,
working to earn her specialist degree in marketing multi-millibh
dollar homes throughout the Bahamas. :-
:'


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PAGE 14, MONDAY, JULY 16, 2007


THE TRIBUNE











Tommy Hilfiger appears on Oprah




show to address 'ugly rumour'
P .yl


ld M-or w ____


S ON MAY 2, Tommy Hil-
'.figer appeared for the very
First tinie on the Oprah Win-
frey show to address an "ugly
rumour" about racial com-
* juents he is alleged to have
:4iade on her show, which has
4een circulating on the Inter-
A4et.
6. 1"Oprah. personally invited
'r Hilfiger to appear on her
,'sbow to squash the rumour,
repeatedlyy proclaiming,
,"*'That is the category of what
'call a BFL a big fat lie.
at) never happened."
* ,The facts remain simple
.*d indisputable: Prior to
VS2ay 2, 2007, Tommy Hilfiger
d never' appeared on The
' prah Winfrey Show and
never made any racially
,'-aflammatory statements in
,apy context.
Ms. Winfrey debunked the
rumour as early as January
11, 1999 when on air she stat-
.d: "Tommy Hilfiger has nev-
er appeared on this show ...
all of (the) people who claim
that they saw it, they heard
S- it never happened. I nev-
tr even met Tommy Hil-
4ger." Yet, in the pattern of a
Vassic urban myth, the
rumour continued to circu-
Jate. After the rumour was
brought to Oprah's attention
gain, she invited Tommy
ilfiger for his first-ever
appearancee on her show.
During the May 2, 2007
interview Tommy Hilfiger
ed about how he enlisted
e help of outside experts to
try to trace the source of this
erroneous rumour. As for the
,impact of this rumour on his
'ife over the years, Hilfiger
said, "It hurt my integrity


because at the end of the day,
that's all you have. And if
people are going to challenge
my honesty and my integrity
and what I am as a person, it
hurts more than anything
else...It has really hurt my
heart."
To coincide with the airing
of the segment Tommy Hil-
figer has released the follow-
ing statement:
"Words can be fleeting, but
actions withstand the test of
time," he said. "Friends, fam-
ily, and business colleagues
who know me, who see the
way I live and conduct busi-
ness, know that the rumour
is complete nonsense. This
show will finally extinguish
the rumour once and for all."
When Elizabeth Christen-
Covington, the local franchise
holder for Tommy Hilfiger in
the Bahamas, was asked
about the effects the rumour
had had on the brand in the
Bahamas, she responded, "It
has definitely had an effect,
but at the same time, we are
very grateful to Bahamians
because it seems that most
people didn't listen to the
gossip and continued to love
and support the brand mak-
ing it one of the strongest
brands in the country. A
great many Bahamians prob-
ably heard the rumour from a
friend or read the rumour on
the internet or via e-mail, but
didn't .-believe it, because it
was only ever a rumour
passed over the internet and
via e-mail and there was nev-
er any proof."
When asked if Oprah Win-
frey and Tommy Hilfiger
appearing together would


.Airline celebrates Indi


epenoence


FASHION Designer Tommy Hilfiger backstage during The
Tommy Hilfiger Fall 2007 Collection, in New York in February.
Hilfiger appeared on the Oprah Winfrey show for the first time on
May 2.


finally squash the rumour, she
responded, "We really hope
so. It is very unfortunate that
this talented designer and
these great clothes and acces-
sories were tarnished by a
rumour that was never true.
When Oprah Winfrey heard
that the rumour had persisted


anniversary


0 U INTERNATIONAL airline carrier American Eagle celebrated the Bahamas' 34th Independence
anniversary in true Bahamian style. The airline adorned their workstations in the nations colours of
:Black, gold and aquamarine, while staff members wore 34th anniversary attire. Local and visiting pas-
Siengers were able to enjoy some favourite Bahamian treats like Junkanoo Punch soda, candies and
Messerts prior to departure.


(AP Photo/Jennifer Graylock)

for almost 10 years, she
decided to invite him on the
show and try to squash it
once and for all. We were
obviously very happy to hear
that she took this step. We
are also delighted to let peo-
ple know that Tommy Hil-
figer, along with Quincy


OPRAH Winfrey personally invited Mr Hilfiger on to her
show.
(AP Photo)


Jones and Russell Simmons,
among others, are co-chair-
ing The Dream Concert,
which will benefit the build-
ing of the memorial for Dr.
Martin Luther King Jr. on the
National Mall in Washington,
DC."
"We are very appreciative
to the Bahamian public for
their good faith and support


over the 15 years that we
have been in business," she
said.
"We will continue to pro-
vide great looking, high qual-
ity clothing, shoes and acces-
sories for the entire family
and hope that the Bahamian
public continues to love and
support Tommy Hilfiger.
Thank you."


YOUR CONNECT F THIE WORLD


TENDER


RESEARCH COMPANY

The Bahamas Telecommunications Company Ltd. (BTC) is
pleased to invite Tenders to provide the BTC with Market
Research Assistance. Research Assistance includes; local market
scope, field work and research information on the Bahamas
Telecommunications Industiy.

Interested companies/firms may collect a Tender Specification
from the Security Desk located in the Administrative Building,
BTC John F. Kennedy Drive, between the hours of 9:00am and
4:00pm Monday through Friday.

The deadline for submission to tenders is on or before Friday
July 27th, 2007 at 5pm.r Tenders should be sealed and marked
"TENDER FOR RESEARCH COMPANY" and should be
delivered to the attention of Vice President of Marketing, Sales
& Business Development, Mr. Marion Johnson.


THE TRIBUNE


M L,-u,, ,.. Ii ,u, 2007, PAGE 15











Critics lobby for




cockfighting ban &




in Puerto Rico


* PUERTO RICO
Isla Verde
WITH cockfighting about to
lose its last bastion in the Unit-
ed States, animal rights activists
are training their sights on Puer-
to Rico, a US territory where
the blood sport is both beloved
tradition and big business,
according to Associated Press.
Cockfighting is illegal in 49
states, and the governor of
Louisiana the pastime's last
US refuge signed a law Thurs-
day that will make it a crime to
fight birds beginning August
2008. New Mexico banned the
sport on June 15.
But Puerto Rico shows no
signs of following suit any time
soon:. Cockfighting is so
entrenched that the territory's
legislature recently approved a
bill establishing it as a "cultural
right" of islanders.
"There are many people who
enjoy this sport and we are not


going to allow any group of peo-
ple to come here and prevent
that right," said Carlos Molina, a
pro-statehood lawmaker who
introduced the bill. "The sport
does no damage to anyone."
On Saturday at Club Gallisti-
co, a cockfighting arena outside
San Juan, the shouts of bettors
rose with each frenzied lunge
of two sinewy roosters pecking
and kicking at each other with
curved plastic spurs until one
was bloodied and near death.
"Cockfighting is a strong part
of the culture of Puerto Rico.
People are very emotional
about it," said Maximo Cerame,
a breeder of gamecocks with
prized bloodlines, as he weighed
a wager on a rust-colored roost-
er during Saturday's parade of
bird bouts.
The Isla Verde arena is one
of 103 licensed cockfighting pits
in the US Caribbean territory
where the pastime is so wide-
spread that devotees say they


feel no threat from animal rights
activists.
But they could soon feel pres-
sure from organizations such as
the People for the Ethical
Treatment of Animals, which
considers cockfighting barbaric.
#'The cruel blood sport (is)
illegal in every US state, and
now it is time for Puerto Rico to
follow suit," PETA spokes-
woman Heather Carlson said in
an e-mail.
Wayne Pacelle, chief of the
Humane Society of the United
States, said the group plans to
closely monitor the island's
industry to ensure cockfighters
are not violating a new federal
law that makes the transport of
fighting birds 'or cockfighting
implements abroad or across
state lines a felony. US Presi-
dent George W Bush signed the
bill into law in May.
."We do plan to mount a cam-
paign to appeal to the many
Puerto Ricans who agree with


* PUERTO Rican breeder Rene Rodriguez holds a fighting bird up to its sparring partner, during'
a training session, at his farm in Aibonito, central Puerto Rico
(APPhoto/Ricardo Arduiieng

our perspective that this prac- team, are widely treasured. Puerto Rico should mark
tice constitutes needless cruel- There are also major eco- cockfighting as a tourism dra
ty," Pacelle said by phone. nomic considerations. especially now that it's near%
Puerto Rican aficionados, Puerto Rico's cockfighting an entirely underground spot
however, say activists and US, industry employs about 50,000 in the United States;
politicians cannot erase a tra- people "in a direct or indirect Andrew Robertson, a 1I
edition dating from Spain's colo- manner" and some 1.25 million year-old Canadian vacationed
nization of the Caribbean island fans buy tickets each year to who attended the Saturday
more than five centuries ago. crowd licensed cockpits, according cockfights at Club Gallissti
Even islanders who avoid to the island's Sports and Recre- with college friends, said
cockfights often ruffle at main- ation Department. More people found the pastime intriguing. 4
landers casting judgment on pay to see cockfights in the island "It's kind of like watching
what many consider the nation- than pay to see baseball games. boxers in the ring," said t
al sport of the island, where With an estimated 100,000 Montreal resident. "'Of coursft
symbols of separateness from fights each year generating the boxers don't die at the en
the United States, such as the nearly US$400 million in ticket of the fight, but you can still s+
Puerto Rican flag and Olympic sales, some proponents argue some similarities."


...................................Castro suggests W ashington fails to stop attacks on US soil to justify w ar on terr...............................................................................................................................................................................................................................................................................................
Castro suggests Washington fails to stop attacks on US soil to justify war on terror


* HAVANA


FIDEL Castro suggested
Sunday that Washington has
deliberately failed to stop ter-
rorist attacks against Americans
because it needed to "deliver a
bang" that would justify its war
on terror, according to Associ-
ated Press.
In the latest in a series of
essays that Cuba's 80-year-old
Maximum leader has begun
writing every few days, Castro
seized on US Homeland Secu-
rity Secretary Michael Chertof-
f's comments this past week
expressing a "gut feeling" that
the United States faces an'
increased risk of attack this
summer.


"The government of the
United States sees and hears all,
with or without legal authori-
ty," Castro wrote. "They can
prevent any attack on their peo-
ple, unless there is some imper-
ial need to deliver a bang so
that they can carry on with and
justify the brutal war which has
been declared against the cul-
ture, religion, economy and
independence of other peo-
ples."
The accusation came at the
end of an essay titled "Bush,
Health and Education," in
which Castro claimed Cubans
are better cared for than Amer-
icans, and that his poor island
nation and its legions of doctors
working around Latin America


have done more for the region
than the US ever will.
Published in the Communist
Party youth newspaper Juven-
tud Rebelde, the essay criticised
US President George W Bush
for suggesting that recent US
initiatives have provided quali-
ty medical care to Latin Amer-
icans.
"In Cuba, where health care
is not a commodity, we can do
things that Bush cannot even
dream of," he wrote.
Castro singled out the USNS
Comfort, a Navy medical ship
staffed by hundreds of Ameri-
can doctors and nurses dis-
patched to treat the poor in
Central America.
"Bush knows that he is lying


and that his tall tales are hard to
swallow, but he doesn't care,"
Castro wrote. "He is confident
that if he repeats it a thousand
times, many will finally believe
him."
Castro said "The Comfort,
with more than 800 people on
board, that is, medical staff and
crew, will not be able to look
after great numbers of people."
He added that despite Washing-
ton's 45-year-old trade embar-
go, "Bush is discovering that the
economic and political system
of his empire cannot compete
with Cuba in vital services, such
as health care and education."
'Castro did not mention the
recent US movie "Sicko," in
which filmmaker Michael


Moore compares Cuba's health
care system favourably to the
United States'.
Recuperating in an undis-
closed location, Castro has not
been seen in public since
announcing last July 31 that
emergency intestinal surgery
had forced him to ceded power
to a provisional government
headed b'y his 75-year-old
brother Raul.
For weeks now he has pub-
lished the frequent essays,
known as "Reflections of the
Commander in Chief," in which
he has touched on issues rang-
ing from US-backed plans to
use food crops for biofuels to
complaints about Cuba's econ-
omy and hints about why his


recovery is taking so long. Ca,-
tro's writings seem to show he a:
in no hurry to return to powei
On Sunday, he also accused
Washington of causing an intel
national brain drain, saying thI
nearly half the foreigners wh
receive advanced schooling
the United States later opt
stay there.
The US embargo prohibit
American tourists from visit'
Cuba while severely limiting
trade between both countries.
Castro claimed Washingtob
uses the policy to discourage
international medical equip4
ment manufacturers from sell-
ing replacement parts to Cuban
hospitals. e
"It is disgusting," he wrote.


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PAGE 16, MONDAY, JULY 16, 2007


THE TRIBUNE






MONDAY, JULY 16, 2007


SECTION -


The Traifflbun


Colinalmperial.


^^^^^^^^^


business@tribunemedia.net


Miami Herald Business, Stocks, Analysis, Wall Street


Reform our 'dead or alive'




bankruptcyliquidation laws



* Attorney calls for Bahamas to embrace United States Chapter 11-style protection for struggling firms

Urges Bahamians not to live 'in dog eats dog world', as this is 'catastrophic' for small economies


* By NEIL HARTNELL
Tribune Business Editor
h ie Bahamas has been
urged to reform its
-dead or alive" bank-
rj ptcy and liquidation
laws, a prominent attor-
ney telling '(he Tribune that this
nation should embrace US Chapter
11-style protection for Bahamian
companies that are struggling to pay
their debts for the wider economy's


good.
Fred Smith, an
attorney and
partner with Cal-
lender's & Co,
said that given
the relatively
small size of the
Bahamian econ-
omy, businesses
that ran into dif-
ficulties should
be given more


SMITH


opportunity to restructure and reor-
ganise than currently.
The country, he added, could not
afford to "keep killing" Bahamian-
owned businesses off, especially if
they were just struggling with tempo-
rary cash flow problems.
"In the Bahamas, we have a guillo-
tine bankruptcy law. You're alive or
dead. There's no in-between," Mr
Smith told The Tribune. "If we cut
off everyone overnight, it would be
catastrophic for the economy.


"In an economy like ours, which is
subject to the vagaries of the world
economy, we should have in our econ-
omy more sensible bankruptcy and
liquidation protection. Instead of
putting people out of business ven-
tures because they can't pay their
debts, we should have more equitable,
legislation that allows for the recovery
of businesses, so that in time they can
meet their debts and survive."
He added: "We can't keep killing
people because they can't pay their


bills. There's only 300,000 residents in
the Bahamas, We should help each
other, and should not be living in a
dog eats dog kind of world.
"We should do everything we can
to help each other survive and pros-
per."
Currently, if Bahamas-based busi-
nesses are unable to pay their debts
and meet obligations to creditors, they

SEE page 12


Baha Mar product 'for

first time' to meet the

market's comfort-zone


* By NEIL HARTNELL
Tribune Business
Editor
BAHA MAR believes it
has positioned its Cablei
Beach Resorts "to have a
product the marketplace can
be comfortable with for the
first time" for the 2007-2008
winter season, due to the
Radisson rebranding and


Wyndham renovations, as
talks with the Government
on an agreement for the $2.4
billion Cable Beach project
continue.
Robert Sands, Baha Mar's
senior vice-president for
administrative and public
affairs, told The Tribune that

SEE page 6


Home Centre eyes

ruling cost benefits

* By NEIL HARTNELL
Tribune Business Editor
FREEPORTi Concrete's chief executive told The Tribune that
the court ruling won by its Home Centre subsidiary will reduce
building materials and construction costs, in addition to keeping
more money in Freeport's economy and enabling Grand Bahama
Port Authority (GBPA) licensees to compete more effectively
with US rivals.
In a letter to Tribune Business (published in full on Pages 10-
S11B), Ray Simpson, who is also Freeport Concrete's president,
denied comments by the Grand Bahama Chamber of Com-
merce's president, Christopher Lowe, that the Home Centre
had been bringing in its invento-
ry entirely bonded prior to the SEE e 15
Supreme Court ruling in its SEE page 15



Real estate prices rise

five per cent per year


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
REAL Estate prices in the
Bahamas are increasing by at
least 5 per cent each year, mak-
ing it critical for younger per-
sons to act quickly when mak-
ing land and property pur-
chases, realtors told The Tri-
bune.


Abigail Rahming, a realtor
at A and E Investments Com-
pany, told Tribune Business
that at present real estate sales
in the Bahamian market were
very strong.
"The market is on an
upswing, and if you check last
year's prices compared to now,
the trend is that they are going

SEE page 15


Bank solution to deliver 75 per cent lower costs


* By NEIL HARTNELL
Tribune Business Editor
THE chosen Automated Clearing
House (ACH) solution will deliver more
efficiency at a cost some 75 per cent low-
er than a previously terminated selection
process, the head of the Clearing Banks
Association's (CBA) working group said,
with the ACH expected "to be up and
running" by 2007 year-end.
Paul McWeeney, who is also Bank of


Clearing House to be 'up and running' by 2007 year-end


the Bahamas International's managing
director, said on Friday that the contract
with chosen ACH software provider Mon-
tran was being finalised, and now just .
awaited final signatures --something he
hoped to have before the weekend.
"It's a matter of just putting final signa-
tures on it," Mr McWeeney said. "We're
about to start the [ACH system] testing


period. We had to ensure the agreement
captures our expectations for the ACH,
and I'm glad to say we have accomplished
that
"We expect to have the ACH up and
running by the end of the year. There's no

SEE page 13


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PAGE 28, MOIDIEAJULY 16S 2O27




M ~~~' SOSniIi ifT^^^^


THE TRIBUNE


Unsung

Heroes

M4 A AJJmua^..& D".


K
N
N


SCelebting extraordiny people. Enriching ou---r
Celebrating extraordinary people. Enriching our communities.


The FirstCaribbean family is aware that to
nurture our societies, we must proudly honour
our Unsung Heroes, the extraordinary people
who quietly make a difference and enrich our
communities. We must support their causes to
which they selflessly devote their lives, and
acknowledge the sacrifices they have made to
make our communities and countries better.

We are now accepting nominations for the 2007
FirstCaribbean Unsung Heroes. Let's recognize
the Unsung Heroes among us and help give
their causes the recognition they deserve.

Send us your nomination describing their work
and the impact it has had on your community.

Nomination forms are available at FirstCaribbean
branches and on our website at


www.firstcaribbeanbank.com


Nomination forms should be addressed to:

FirstCaribbean Unsung Heroes
, c/o Local Cp-prdiator
FirstCaribbean International Bank
FirstCaribbean Financial Centre


2nd Floor


Shirley Street
Nassau, Bahamas


Nominations must be received by July 28, 2007
and may be posted to the address above or
delivered to a FirstCaribbean branch near you.


* Be an individual or g'roue educated beyond .the
ordinary towards social .p.) .eet '
* Be willing to have their c.i"ofiled in the local
and regional media
* Be a regionally focused person or team
* Not have a high media profile
* Be a Caribbean citizen/resident for at least five years
* Be apolitical
* Not seek to directly promote any religious movement


206 I Nr S UN[ HE]E


St. Vincent & the Grenadines 2006 HERO
Care of the Youth and Elderly
jestina Charles has worn many hats in her
lifetime theologian, teacher, counsellor,
seamstress, homemaker and foster mother, in
more than 50 years of helping people. She is
renowned for her assistance to the elderly and
for administering feeding programmes for
over 30 years and has taught for many years
at various primary schools in St. Vincent.


St. Lucia 2006 Regional Runner-up
Extensive Work with the Youth and
Elderly
Laura Collymore is a retired school teacher,
mentor, counsellor, caregiver, town clerk and
humanitarian who has been actively serving
the fishing village of Laborie and its environs
for the past 30 years. She is a founding
member of Club 60, a group devoted to
engaging the elderly in activities.


The Bahamas 2006 Regional Runner-Up
Care and Support of the Hearing
Impaired
For the past 15 years, Marvin Finlayson has
devoted his life to reaching out to the
hearing impaired. At the tender age of six,
he took ill with meningitis, which left him
deaf. He became the first deaf person to
graduate from the College of The Bahamas.
Marvin is one of the founding members of
The Bahamas Deaf Sports Association.


Jamaica 2006 Regional Commendation
Community & Social Worker
Fabian Mitchell, 34, is living testimony that
hope is alive and well with the youth in our
region, He established the Cross Roads
Foundation, has worked voluntarily in the
inner-city communities of Kingston, and also
started a remedial programme for street boys
in the Jones Town community that became a
model for a similar programme in another
area in the city.


FIRSTCARIBBEAN
INTERNATIONAL COMTRUST
FOUNDATION LIMITED

ENRICHING OUR COMMUNITIES. TOGETHER.


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BUSINESS


he 3riami ieIb MONDAY, JULY 16, 2007 INTERNATIONAL EDITION


WALL STREET


Market rally unhurt as firms report 2Q results


BY JOE BEL BRUNO
Associated Press
NEW YORK Wall Street's stun-
ning reversal this past week going
from a nearly 150-point drop in the
Dow industrials Tuesday to an aston-
ishing 283-point surge two days later
- looks like a rally without reason.
Painful as that drop Tuesday was,
it made sense. Earnings warnings
from the likes of Home Depot, Sears
and homebuilder D.R. Horton sent
stocks tumbling and frayed investor
confidence.,
But little if anything had
changed when stocks thundered
higher, carrying the Dow and Stan-
dard & Poor's 500 indexes to new
closing records. The outlook for sec-
ond-quarter earnings reports, which
won't start in earnest until the forth-


coming week, was still quite uncer-
tain, making that huge rally a little
hard to explain.
Some analysts ,say, the advance
had nothing to do with investors'
expectations for earnings, and call it
a case of panic buying, where inves-
tors buy simply so they won't be left
on the sidelines. That led them to
overlook the bad news of the week,
and not worry about what the next
few weeks might bring.
But that leaves critical questions
to be answered: Just what does the
market expect from earnings season?
And, if the results don't meet those
forecasts, will investors decide this
past week's rally was based more on
foolhardiness than fundamentals?
Projections for the second quarter
indicate that profits increased at a


slower pace due to rising interest
rates globally, and the continued
drag from troubled areas like the
housing and automobile sectors.
Members of the Standard & Poor's
500 are expected to show profit rose
4.1 percent from last year's second
quarter, according to Thomson
Financial.
This would be the slowest growth
since the second quarter of 2002, just
before companies began a nearly
four-year burst of double-digit earn-
ings growth. But, what investors
really want to know is whether com-
panies might spring some surprises
- and perhaps beat expectations.
"I think investors are anticipating
earnings to be moderately good,"
said James Simos, a principal with
Oakland, Calif.-based Infinity Finan-.


cial Services. "But, right now the
question is if analysts on Wall Street
have been so conservative that they
are getting it wrong."
Indeed, during the first quarter,
analysts originally expected earnings
would grow by 8.7 percent year-
over-year, according to Thomson.
But, as the start of first-quarter earn-,
ings season grew closer, mounting
concerns about corporate profits
caused them to adjust that forecast
downward to 33 percent. .
The estimates have been growing
increasingly more conservative each
quarter and that was the' case dur-
ing the first quarter. After all the
results for the S&P 500 were
counted, profit grew 7.9 percent from
the year-ago period.
Part of the uncertainty is due to


the fact that earnings aren't deter-
mined only by how much money a
company actually makes. Earnings
per share figures are being boosted
by an unprecedented pace of stock
buybacks that have been fed by the
large amounts of cash companies
have on, their balance sheets; with
fewer shares outstanding, earnings
per share goes up.
S&P 500 company buybacks in the
.second quarter are expected to
smash the $117.7 billion record set in
the first quarter. And, just this past
week a number of that index's big-
gest drivers announced billion-dollar
buyback offers including Yum
Brands, Johnson & Johnson, Conoco-
Phillips and Home Depot


MEXICO


BY JANE BUSSEY
jbussey@MiamiHerald.com
MORELIA, Mexico For recent law school gradu-
ate Gabriel Medina, dollars from his sister in South
Florida have been his lifeline to a better future.
Each month, Elisa Medina sends her brother an
average of $300, part of her earnings from a Home-
stead plant nursery job where the native of the Mexi-
can state of Michoacan has worked since moving to
South Florida in 2001 with her three children.
For Gabriel, the remittances Elisa sends him -
"more than I earn in my job" and the money he
saved during a year spent working in South Florida
allowed him to finish law school.
Elisa misses Mexico deeply. But here she can sup-
port her children and help out her family in Micho-
acan. "The children can go to school,
they can eat well and they cane dress
well," Elisa said. "In Mexico, children Only Me
sometimes don't eat."
Although separated by distance and crude oil
the border, Mexicans like Gabriel in generate
Mexico and Elisa in Florida are united by g
a monetary pipeline, foreign i
The flow of household remittances
has become an indelible part of bilateral from one
relations, with Mexico depending on the than the
United States to employ millions of Mex-
icans as well as buy more than 85 percent Mexican
of its exports. It is the same story in Cen-
tral America. The trickle of migrants flee- working
ing violent civil wars in the 1980s turned
into a tidal wave. People are Central United &
America's most successful export.
Hondurans currently send home funds equal to 20
percent of the country's gross domestic product, the
broadest measure of the goods and services produced
in the country. Salvadoran remittances add up to 17
percent of the GDP. In Guatemala, Nicaragua and the
Dominican Republic, remittances comprie around 10
percent.
In Mexico, remittances make up only2.7 percent of
the total GDP, but they account for 13 percent of the
income in MichoacAn, the Medina family's home state.
Only Mexican crude oil generate more foreign


income from one source than the Mexican-born work-
ing in the United States.
"Fourteen percent of the Mexican workforce born
in Mexico now works in the United States," said
Thierry Lemaresquier, resident representative for the
United Nations Development Program in Mexico. "It
is probably the biggest migratory phenomenon of the
planet."
MichoacAn and Zacatecas, the states with the high-
est dependence on remittances, actually experienced,
zero population growth from 2000 through 2005.
As the story of the Medina family shows, the fac-
tors contributing to migration include inequality and
the lack of opportunities in Mexico, a network of rela-
tives in the United States who help the recent arrivals
and the slew of U.S. businesses willing to hire cheaper
labor.
In recent years, analysts have high-
exican lighted the positive effects of remit-
tances as a major financial resource and
as a way of fighting poverty. But a
?s more recent report on Mexico's human devel-
opment by the United Nations Developr
income ment Program noted that despite the
benefits to families receiving the
Source money, the outward migration robs
some Mexican states of large numbers
of people with mid-level educations.
i-born The June report concludes that states
with high migration levels despite
in the receiving billions of dollars from abroad
,- would have higher levels of health,
states. education and welfare if those citizens
.stayed.
"The net effect is a loss in Mexico, which is due in
part to the level of education of those Mexicans who
emigrate to the United States," Lemaresquier said.
The United Nations Development Program study
also made clear that people with a moderate level of
education generally migrate because lower and mid-
level jobs are so poorly paid in.Mexico and the rest of
Latin America.
Mexico's per capital income of $7,310 is about one-
*TURN TO REMITTANCES, 8B


HIDDEN TREASURES



Push for more mining


stirs debate in Ecuador


BY CARLA D'NAN BASS
Special to The Miami Herald
CUENCA, Ecuador According
to the legend of Llanganatis, a curse
put on gold and other artifacts gath-
ered in the 16th century to ransom
Inca chief Atahualpa from the Span-
ish conquistador Francisco Pizarro
has prevented generations of adven-
turers from ever finding Ecuador's
'hidden treasures.
But now big-time mining compa-
nies may be about to export the
region's wealth not Atahualpa's
treasure, but gold and other valuable
metals still in the ground.
,b.o "V "ipternoW. met ,
market is hungry for any reserves,
including do,.Sesim
lion metric i tso2ao lslver
and copper. Exports could reach $4.
billion annually, according to some
industry estimates about two-
thirds the value of oil exports, Ecua-
dor's current main money maker..
International mining companies
including Corriente Resources, lam-
gold and Ascendant Copper have
explored, and say they are ready to
begin producing in their concession
areas.
"Ecuador is at a transition point in
mining," Vice Minister of Mines
Jorge Jurado said. "We are facing the
imminent possibility of large-scale
mining."
Now, less than 1 percent of Ecua-
dor's gross domestic product is gen-
erated by small and medium-scale
miners now operating in this small
Andean country. And this number
includes miners' production of non-
metals such as construction materi-
als.
But some Ecuadoreans consider
the prospects for large-scale mining
another curse, especially since the
sought-after metals are lying under
one of the mbst biodiverse topogra-
phies in the world.
Around the southern highland city
'of Cuenca, Indians and other local
activists blocked roads and clashed
with police in June, and organizers
said they plan to regroup soon. The
most radical want all large-scale min-
ing concessions canceled, while oth-
ers want them suspended until more
studies are conducted.
Sitting at one intersection blocked
by a barricade of burning tires, 48-
year-old grandmother Inez Cochan-
cela squatted on a curb, smoothed
her traditional indigenous embroi-
dered skirt and explained her opposi-
tion. She and about 200 other locals
were making a last stand near the
small community of Victoria del Por-
tete outside of Cuenca after police
drove them from other protest
points.
"One of the few things we poor
people have is water," she said. "Min-
ing will damage that."


This type of opposition has
prompted the leftist government of
President Rafael Correa to launch a
review of the country's 4,112 mining
concessions most not producing
- totaling about 2.8 million hectares.
The government also has rejected
environmental impact studies, neces-
sary to begin production, for Cor-
riente Resources and Ascendent. In
addition, officials plan to propose
reforms to the existing mining law to
increase the state's take from the
income and place more restrictions
on the industry.
Some mining representatives who
accuse the government of siding with
protesters have said they agree that
the industry needs reform, even
regarding the issue of government
revenue. But they accuse activists of
whipping up exaggerated fears and
point to the jobs min-
ing would create in
the impoverished
areas.
"Modern mining is
compatible with envi-
ronmental and social
concerns," said Cdsar
Espinosa, president
Sof the Ecuadorean
ESPfINOSA Chamber of Mining.
"This is a new type of mining which
the country has not yet experienced."
But many communities have had
bad experiences with less controlled
small-scale mining and clumsy
attempts at community relations by
big mining companies.
"These conflicts are the fruit of
some bad-practices of mining compa-
nies until now," said Patricio Vargas,
president of the Cuenca Mining
Chamber. Correa, seen as a "green"
president when he took office in Jan-
uary, promised not to repeat the
same environmental and community
relations mistakes that occurred with
oil, the country's most valuable
export. The oil-producing Amazon
region is the site of constant conflict
between locals and oil companies.
The Correa government had pro-
posed creating a new model of com-
munity relations through a "national
mining dialog," but street protests
indicate it is not working.
"This dialogue should have taken
place in the 1980s, before this
started," said Lina Solano, leader of
the more radical band of opponents
in Cuenca. "We want Ecuador to be
declared a country free of large-scale
mining."
Correa has ruled out canceling
concessions, however, and ordered
police to remove protesters blocking
roads.
Although increased income from
mining could help finance his popu-
list 'campaign promises, if current
laws are reformed, Correa could take
a hit on popularity.

MINERAL WEALTH:
Children work in
the mines of Bella
Rica in Ponce
Enriquez, Ecuador.
The small Andean
country has an
estimated
1.5 million metric
tons of gold, silver
and copper.


NoeUJ puA/EL CONmmO


I_____._....._.._._....__________.____.. ___._._._~__.~.~~......_.~...._._.__.._. __....._.__.









INTERNATIONAL EDITION MONDAY, JULY 16,20074B


WORKPLACE



Dealing with higher-ups requires skill and practice


BY MARIE G. McINTYRE
McClatchy News Service
Q: I am a young employee
who recently attained a posi-
tion that requires me to interact
with top-level managers. When
I request information from
them, I find it difficult to get
responses. I feel that I'm not
taken seriously and that I'm
being ignored because of my
age. How do I handle this?
Young & Frustrated


A: Communicating with
busy executives can be a chal-
lenge, even for older people.
Odds are the cause of your
problem is not age, but inexpe-
rience.
Getting the attention of top
management is an art requir-
ing skill and practice.
Consider this interaction
from the viewpoint of your
target audience.
Do these unresponsive


managers know who you are?
Executives are more attuned
to people near their level, so
consider invoking your boss'
name in your requests.
Have you explained why
you need the information?
Replies are more likely to
be forthcoming when the rea-
son for a request is clear.
Emphasize how providing
this data will benefit the com-
pany. Is the information hard


to obtain or compile? The
more effort required, the
lower the response rate. Look
for ways to make the task eas-
ier.
Do you expect an immedi-
ate response to a single e-mail?
Executives receive a daily del-
uge of correspondence, so get-
ting to yours could take
awhile.
Since younger employees
often rely heavily on elec-


tronic communication, con-
sider following up by phone or
in person. Are you aiming too
high? If a lower-level
employee can help you, don't
bother executives. Less-lofty
people are much more accessi-
ble.
Finally, when dealing with
an executive, the administra-
tive assistant is your secret
weapon.
Going through the assistant


often works better than con-
tacting an executive directly,
because assistants are quite
adept at extracting informa-
tion from the boss.

Marie G. McIntyre is a
workplace coach and the
author of "Secrets to Winning
at Office Politics." Send in
questions and get free coaching
tips at www.your
officecoach.com.


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6.125 30 yr Fix/Conf 0/2 $20/350 5% 6.27
5.75 15 yr Fix/Conf 0/2 $20/350 5% 6.02
6.375 30 yr Fix/Jumbo 0/2 $20/350 5% 6.52
5.625 5 yr ARM Conf.. 0/2 $20/350 5% 7.12
5.875 5 yr ARM Jumbo 0/2 $20/350 5% 7.12
WRITTEN PRE-APPROVALS IN 10 MINUTES OR LESS
FOUND TO HAVE THE BEST MORTGAGE RATES
BY MONEY MAGAZINE, KIPLINGER'S
AND CONSUMER REPORTS.

800-696-SAVE (7283)
www.baronmortgage.com
(A) 4901 SW 80 St., Miami, FL 33143 LIC#CL010012


BEACON FINANCIAL RESOURCE GROUP, INC. 305-234-0800
www.BFRGROURcom
6.5 30 yr Fix 0/0 $0/350 5% 6.63
6.25 15 yr Fix 0/0 $0/350 5% 6.45
6.25 Interest Only 0/0 $0/350 5% 6.37
1.2 Option ARM 0/0 $0/350 5% 7.06
Reverse Mtg's, Interest Only, No Doc, All Credit Types, No PMI,
Constr, Lot, Equity, Foreign Nat', Jumbo, Commercial, Pay Option.
(B) 14411 S. Dixie Highway, Suite 227, Miami, FL 33176

BAYTRUST CAPITAL CORP. 305.270-12701888.574.LOAN
www.baytrustcapltal.com email: Info@baytrustcapital.com
*'''10 %VOO EiGN CITIZEN & /*. NO INCOME

% 90% CONDOHOTELS & CONDOMINIUMS
Residential Purchase, Refinance Loans to $10 Million


6.375 30 yr Fix/Conf
6,5 30 yr Fix Int. Only
5.5 5 yr Fix Int. Only


$0/395
$0/395
$0/395


20% 6.53
0% 6.63
10% 5.63


MULTI-FAMILY & COMMERCIAL LOANS to $10MM
Fixed 30 Year Amortization "Interest Only"
97% LTV Loans $500K to $1.5 Million


SNo Income Available
Office Buildings
Construction-Perm


Warehouses
Gas Stations
* Foreign Nationals


(A) 11130 N. Kendall Dr., Miami, FL 33176


CAPITAL MORTGAGE FUNDING 800-809-9580
yourcapitalmortgagefl.com
6.375 30 yr Fix 0/0 $0/300 5% 6.41
6 15 yr Fix 0/0 $0/300 5% 6.04
6.875 30 yr Jumbo 0/0. $0/300 5% 6.93
6.5 5 yr Fixed Jumbo 0/0 $0/300 5% 6.58
Purchase, Refinance, Same Day Approval, No Down Payment, Investment, Line of
Credit, 2nd Home, Interest Only and Best Custumer Service
(B) 1509 NE 4th Avenue, Fort Lauderdale, FL 33304 LIC#402728


CAPITAL TRUST MTGE. CORP. 305.670-9191
www.capitaltrustmtg.com
6.375 30 yr Fix 0/0 $0/300 5% 6.41
6 15 yr Fix 0/0 $0/300 5% 6.04
6.875 30 yr Jumbo Fix 0/0 $0/300 5% 6.93
6.5 15 yr Jumbo Fix 0/0' $0/300 5% 6.58
Purchase, refinance, same day approval, no down payment, investment,
line of credit, 2nd home, interest only and BEST CUSTOMER SERVICE.
(A) 9500 S. Dadeland Blvd., Suite 450, Miami, FL 33156 LIC#0502932


CHASE


305-598-7700


Chase offers a variety of Mortgages, including Fixed Rate,
Adjustable Rate, Interest Only, FHA and VA, First Time home-
buyer and many other Loan Products. For more information
please call one of our branches below: Kendall: 305-598-
7700/Coral Gables: 786-552-6501/Key Biscayne: 305-365-8844/
Aventura: 305-682-9034 Dadeland: 1-866-255-0709
(C) 8500 SW 117 Rd., Suite 130, Miami, FL 33183

CHOICE ONE MORTGAGE CORP. 305-259-7433
www.choiceonemortgagecorp.com
"ATTENTION SENIORS"
GET THE FACTS ON: REVERSE MORTGAGES!
NO MORTGAGE PAYMENT FOR LIFE
FREE DVD AVAILABLE
(305) 259-7433 / (800) 547-0006
L/O'S inquiries welcome
(C) 18400 Franio Rd., Cutler Bay, FL 33157 LIC#ML0700111

COUNTRYWIDE HOME LOANS
www.countrywide.com
For Rate Information, please call one of the branches listed below:
*Kendall 305-598-9898
*Surfside 305-861-2019
*Pinecrest 305-671-0444
*Miami Beach 305-532-8884
*Downtown Miami 786-425-5312
*Sunset 305-630-5792
*Dadeland US1 305-670-7275
*Coral Gables 305-446-0886
*Doral 305-597-5393
*Miami Lakes 305-820-3180
14160 Palmetto Frontage Rd. #31, Miami Lakes, FL 33016
*Miami Lakes 305-512-7100
15150 N.W. 79 Court #175, Miami Lakes, FL 33016
Equal Housing Lender. 2007 Countrywide Home Loans, Inc., 4500
Park Granada, Calabasas, CA 91302. Trade/servicemarks are the proper-
ty of Countrywide Financial Corporation and/or its subsidiaries. For
Rorida properties only. Some products may not be available in Florida.
This is not a commitment to lend. Restrictions apply. All rights reserved.
1fg(A) 4500 Park Granada, Calabasas, CA 91302 .


COMMERCEBANK, N.A.


5.875 30 yr Fix
5.625 15 yr Fix
6.125 30 yr Jumbo


305-4604-585
www.commercebankfl.com
0/1 $16/300 10% 6.04
I/1 $16/300 10% 5.9
3/1 $16/400 20% 6.25


6 5/1 yr ARM 0/1 $16/300 20% 7.19
Down payments as low as 3.0% are available; call for quote.

(C) 220 Alhambra Circle, Coral Gables, FL 33134


FIND MORTGAGE RATES I LENDERS, PARTICIPATE


& INFORMATION

ON THE INTERNET

24HRS A DAY@

http://mheraid.interest.com


_________________________I __________________MORTGAGE____________UPDATE______


IN THIS FEATURE CALL

BANKRATE.COM

CUSTOMER SERVICE

@ 800-509-4636


Which is the better mortgage option for you: fixed or
adjustable?
The low initial cost of adjustable-rate mortgages, or ARMs,
can be very tempting to home buyers, yet they carry a degree
of uncertainty. Fixed-rate mortgages offer rate and payment
security, but they can be more expensive.
Here are some pros and cons of ARMs and their fixed-rate
brethren.
Adjustable-rate mortgages
Advantages and Disadvantages
* Feature lower rates and payments early on in the loan term.
Because lenders can use the lower payment when qualifying
borrowers, people can buy larger homes than they otherwise
could buy.
* Allow borrowers to take advantage of falling rates without
refinancing. Instead of having to pay a whole new set of clos-
ing costs and fees, ARM borrowers just sit back and watch the
rates and their monthly payments fall.
* Help borrowers save and invest more money. Someone who
has a payment that's $100 less with an ARM can save that
money and earn more off it in a higher-yielding investment.
* Offer a cheap way for borrowers who don't plan on living in
one place for very long to buy a house.
* Rates and payments can rise significantly over the life of the
loan. A 6 percent ARM can end up at 11 percent in just three
years if rates rise sharply.
* The first adjustment can be a doozy because some annual
caps don't apply to the initial change. Someone with an annu-
al cap of 2 percent and a lifetime cap of 6 percent could theo-
retically see the rate shoot from 6 percent to 12 percent 12


ARM vs. fixed-rate mor
months after closing if rates in the overall economy skyrock-
et.
* ARMs are difficult to understand. Lenders have much more
flexibility when determining margins, caps, adjustment index-
es and other things, so unsophisticated borrowers can easily
get confused or trapped by shady mortgage companies.
- On certain ARMs, called negative amortization loans, bor-
rowers can end up owing more money than they did at closing.
That's because the payments on these loans are set so low (to
make the loans even more affordable) they only cover part of
the interest due. Any additional amount due gets rolled into the
principal balance.
Fixed-rate mortgages
Advantages and Disadvantages
* Rates and payments remain constant. There. won't be any
surprises even if inflation surges out of control and mortgage
rates head to 20 percent.
- Stability makes budgeting easier. People can manage their
money with more certainty because their housing outlays
don't change.
* Simple to understand, so they're good for first-time buyers
who wouldn't know a 7/1 ARM with 2/6 caps if it hit them
over the head.
- To take advantage of falling rates, fixed-rate mortgage hold-
ers have to refinance. That means a few thousand dollars in
closing costs, another trip to the title company's office and
several hours spent digging up tax forms, bank statements, etc.
- Can be too expensive for some borrowers, especially in high-
rate environments, because there is no early-on payment and
rate break.


tgage By Bankrate.com
* Are virtually identical from lender to lender. While lenders
keep many ARMs on their books, most financial institutions
sell their fixed-rate mortgages into the secondary market. As a
result, ARMs can be customized for individual borrowers,
while most fixed-rate mortgages can't.
All of these things should factor into your decision between
a fixed-rate mortgage and an adjustable.
After the initial fixed period, most ARMs adjust every year
on the anniversary of the mortgage. The new rate is actually
set about 45 days before the anniversary, based on the speci-
fied index. But some adjust as quently as every month. If
that's too much volatility for you, go with a fixed-rate mort-
gage.
When rates are relatively high. ARMs make sense because
their lower initial rates allow bon owers to still reap the bene-
fits of homeownership. Rates could fall even further, meaning
borrowers will have a decent chance of getting lower pay-
ments even if they don't refinance. When rates are relatively
low, however, fixed-rate mortgages make more sense. After
all, 7 percent is a great rate to borrow money at for 30 years.
Besides the standard fixed-rate and adjustable-rate mort-
gages, there are other types of mortgages and ways to finance
a home.
Jumbo mortgage
This is considered a nonconforming loan because it exceeds
the loan limit set by Fannie Mae and Freddie Mac, the two
publicly chartered corporations that buy mortgage loans from
lenders, thereby ensuring that mortgage money is available at
all times in all locations around the country. The single-fami-
ly limit changes annually and the current limit is always post-


ed on Bankrate. If you need to borrow more than that, you will
need a jumbo mortgage, which generally has a higher interest
rate than "conforming" loans. Bankrate.com also surveys
jumbo mortgage'rates.
Two-step mortgage
These are mortgages that combine elements of fixed and
adjustable-rate mortgages. They go by confusing names such
as 2/28, 5/25 or 7/23. A two-step mortgage features a fixed
rate and payment for an initial period, followed by one adjust-
ment, then a fixed rate and payment for the remainder of the
loan term. A 7/23, for example, has an initial fixed period of
seven years, an adjustment, and then 23 more years of pay-
ments following the adjustment.
Balloon mortgage
Borrowers get lower rates and payments for a specific period
of time, which usually is anywhere from three years to 10
years. At that point, a borrower has to pay off the principal bal-
ance in a lump sum. Under certain conditions, the mortgages
can be converted to fixed-rate or adjustable-rate loans. Many
borrowers either sell their homes before they get to their due
dates or end up refinancing their balances into new mortgages.
Construction mortgages
Construction loans help people who want to build homes,
rather than buy existing ones. They typically feature a two-
step borrowing process. Borrowers pay higher rates for the
duration of construction, during which time they draw money
to pay'their builders, paying only interest on the outstanding
amount. Then, they go through a second closing at which time
the loan usually converts to a traditional, long-term fixed-rate
structure.


EUROBANK


GMMORTGAGE


Rates effective as of 7/11/07. 0 2007 Bankrate, Inc. http://www.bankrate.com. LEGEND: (A) Mortgage Banker. (B) Mortgage Broker, (C) Bank, (D) S & L. (E) Credit Union. "Call for Current Rates" means actual rates were not available at press time. Conventional loans
are based on loan amounts of $165.000. Jumbo loans are based on loan amounts of $435,000. Points quoted include discount and/or origination. Lock Days: 30-60. Annual percentage rates (APRs) are based on fully indexed rates for adjustable rate mortgages _
(ARMs). The APR on your specific loan may differ from the sample used. Fees reflect charges relative to the APR. If your down payment is less than 20% of the hoIne's value, you will be subject to private mortgage insurance, or PMI. Bankrate, Inc. does not go_
guarantee the accuracy of the information appearing above or the availability of rates and fees in this table. All rates, fees and other information arc subject to change ssthout notice. Bankrate. Inc. does not own any financial institutions. Some or all of the compa-
nies appearing in this table pay a fee to appear in this table. To appear in this table, call 800-509-4636. To report any Inaccuracies, call 888-509-4636. http://mherald.interest.com"


THE MIAMI HERALD I MiamiHerald.com


-


I I


.-.....~.-. .~..








TeeTRIUNEMO RAitJ ..1.0..AG




Fedback on Riz-?


Carlton


'positive
O^l tlV **


despite concern


* By CARA BRENNEN-
BETHEL
Tribune Business.
Reporter

Feedback on the pro-
posed design for the
Ritz-Carlton resort
on Rose Island has
generally been positive, its
vice-president and general
manager told The Tribune,
despite some Bahamian real-
tors voicing concerns about
plans for the multi-million dol-
lar development.
With dredging on the marina


expected to start by July's end,
Russell Miller told The Tri--
bune that any project is bound
to have some degree-of critis-
cm levelled against it.
Letter
He was responding to \a
recent letter to The Tribune by
Ken Chaplin, a Bahamian real-
tor who expressed shock at the
design plans for the resort,
which were unveiled to a focus
group meeting.
Mr Miller said he preferred
not to comment on tlfeb mat-


mL1WANTED
L.eadngLa FrmseksLeal-0 rea


Candidates


must have


experience .in


one or more. of the following areas:
Conveyancing litigation, mortgages, and
general matters; be highly proficient in
MS Word & Windows; type 70+ wpm; be
comfortable and polished with high-level
clients; have excellent organizational and
follow-up skills. Salary commensurate
with experience. Please send resume and
salary expectations to:cpfplan@yahoo.com,


or:send-faxto: 323-0012


'19'


ter, adding only that the Ritz-
Carlton developers had. met
'with a number of persons to
discuss their plans all with
positive results.
"We held a focus group with
the majoirty of real estate bro-
kers to discuss any concerns
that they might have had. I will
only say that'the overall feed-
back from the meeting was
very positive" Mr Miller said.
In his letter to The Tribune,
Mr Chaplin wrote: "I recently
attended a 'focus group' which
examined the plans of the Ritz-
Carlton development on Rose
island. I was shocked, as the
plans were unveiled showing
a seven-storey rectangular box,
which was touted as 'contem-
porary and forward thinking,
and which answered the call
of today's buyers'."
While Mr Chaplin praised
the Ritz-Carlton developers
for hosting the meeting, he
hoped they would "re-think
their plans to build .a decided-
ly un-Bahamian hotel and res-
idential community. on a gem
of a very Bahamian island".
1


Mr Chaplin also encouraged
developers, architects and
builders to ensure their designs
reflect traditional island style.
"Our traditional architec-
ture, while defining our
Bahamianism, also just makes
sense, as it provides shade with
large overhangs and wrap
around verandahs with large
openings to take advantage of
cooling breezes," he added.
Booming
"Why are the communities
of Harbour Island and Hope
Town booming? Because of
their island charm. Contem-
porary designs become dated-
our island style will always be
classic.".
The Ritz Carlton is expected
to open in 2009. According to
the developers, it.will include a.
luxury resort, private resi-
dences and a sheltered mari-
na.
When completed, it is
expected to provide a collec-
tion of more than 400
dewellings.


Are you looking for a Teaching Position in a
Dynamic Progressive Teaching Environment?

Starting August 2007

The Lyford Cay Inteinational School has positions
open in:

* Early Learning Center
* Elementary Classroom
* Chemistry
* Mathematics
* English & Huianities
. Spanish

If interested:email to Dr. Paul Lieblich, Principal at
plieblich@lyf6rdcayschool.net: -

* Letter of Application .
* Curriculum Vitae
* Picture of yourself

Candidates must be university/college trained
with teaching credential adnd two years experience.
International Baccalaureate Organization program
experience preferred.


r -$"~.


4'. 4.. 1
'..f 4".;


FiRSTCAR A
INTERNAtdIONAL 6ANK

CAREER OPPORTUNITY

Wealth Management
Wealth Manager/Team Leader
Bahamas & TCI
We are continuing the expansion of our Wealth Management business and are now seeking to
recruit an outstanding professional to lead our team of international and domestic wealth
managers in'Bahamas and TCI. The person we are seeking must have the gravitas and expertise.
to drive the significant growth of AUM/AUA by developing investment relationships with
HNWIs, professional trustees and financial intermediaries.
Qualifications:
Internationally recognized Financial Planning or Investment qualification (e,g. FPC or
CFA).
.Degree or professional qualification in Banking, Accounting, Law or Business.
A self- motivator and experienced team leader with a commitment to 'coaching and
mentoring.
Must have a passion for team and personal results and be able to demonstrate an
outstanding command of balancing sales and best advice to exceed targets.
Fully up to date with the global Wealth Management product offering and an excellent
understanding of international and local competitive environments.
Strong knowledge of insurance, taxation and asset protection, estate planning products
and services, and experience in tailoring innovative solutions for clients from various
jurisdictions.
Must be fully aware of latest KYC, AML and fraud prevention requirements and
monitoring tools.
Possess a strong knowledge of global economic and political conditions and current
affairs.
General Requirements/Responsibilities:
Have a minimum of 5 years, and preferably 10 years, international investment management
sales or financial advisory experience, with supervisory experience in a regulated T & C
environment.
Client centric with strong presentation and negotiation skills; able to competently provide
expert investment advice and recommendations to HNWIs and professionals.
Can demonstrate a full understanding of the mathematical and statistical basis of portfolio
diversification and possess a thorough comprehension of the qualitative and quantitative
aspects of investment management including, Alpha, Beta and Total Return considerations
and analytical depth in respect of asset allocation and specific stock picks.
Champion and implement Wealth management sales initiatives working closely with the
Director Wealth Management, Director Sales & Service and Marketing Department.
Achieve revenue, AUM/AUA and other targets, whilst managing costs within agreed
budget.
Experience in lending and cross selling other banking products is desirable.
Remuneration:
Salary commensurate with level 9 o#lt of 11 pay levels
Benefits- comprehensive banking benefits, variable incentive pay (bonus) and preferred
loan rates
Applicants are requested to submit theiresume with a cover letter via email by July 20th,
2007 to: dennis.govan@firstcaribbenibank.com
FirstCaribbean International Bank (Bhhamas) Limited thanks all applicants for their interest,
however only thosdunder consideration will be contacted.
/


ANSBACH ER
member of ihe QNB Group

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

CREDIT RELATIONSHIP MANAGER

Duties include:
Providing a high level of service and financial advice to new and existing
clients including liaising with customers and professional intermediaries
with regards to credit facilities.
Managing the bank credit exposures to ensure no risk.
Providing management information on theclient base for monthly credit
meeting. *
Enhancing the experience of existing clients by providing accessibility and
person-to-person advice.
Implementing the bank's strategy together with the ability to satisfactorily
service high net worth clients/intermediaries.
The successful candidate must have the following qualificaions and experience:
ACIB or ABIFS diploma or degree in BanKing or a related business field
Seven or more years banking experience of which at least four years should
be in credit administration
Previous experience in portfolio and liability administration
Strong leadership and decision making skills
Problem solving and coaching skills
Ability to manage multiple priorities
Ability to make sound credit analysis
Strategic awareness within the private banking industry
Spanish speaking skills would be an asset
Excellent salary & benefits
Please send all resumes to the attention of:
Human Resource Manager
Ansbacher (Bahamas) Limited
EO. Box N-7768
Nassau, Bahamas
Fax: 325-0524
Email: hrmanager@ansbacher.bs
Deadline for all applications by hand, fax or email is July 20th, 2007


..._,...._ .:................


.. --i


MONDAY, JULY 16, 2007, PAGE 5B


To adveptise in Me TpOw -

the #1 newspapep in cipculation,

just call 322 -1980 today!


THE TRIBUNE






PAGE 6B, MONDAY, JULY 16,2007 THE TRIBUNE


Competitive salary commensurate with experience ana
qualifications. Free housing and other benefits available.
Interested pesons should fax resume to 242-347-5004 or
email to tstewart@catcayyachtclub.com '




Employment

Opportunity
Administrative Assistant/ Book Keeper

Small Business out West looking for a Successful
Candidate to meet
the following requirements:
Computer literate on Word, Excel, Outlook and
Quick books
Good Organizational Skills
Experienced with accounting and bookkeeping.
Self motivated and able to work without supervision.
Good Communication Skills, Verbal and written
Own transportation is a plus.

Great Compensation package plus benefits.

Send Resume by July 31st to
Apply'to: DA 798
c/o The Tribue
P.O. Box N-3207
Nassau, Bahamas


FROM page 1
the developer was "ready to
go" on issuing contracts for
both the West Bay Street re-
routing and Commercial Vil-
lage construction, but needed
to secure an agreement with
the Government for the overall
project before it could proceed.
Informed sources have con-
firmed to The Tribune that
Baha Mar and the new FNM
government have already met
over the project, and that more
meetings are planned. Mr
Sands effectively confirmed
this, saying: "We have engaged
with the Government of the
Bahamas, and that's very
important."
He declined to comment fur-
ther, but The Tribune has been
told that Prime Minister
Hubert Ingraham is keen for
Baha Mar, as he sees it, to start
fulfilling some of the obliga-
tions it committed to in the
original April 6,2005, Heads of
Agreement it signed with the
Christie administration, before
talks on further investment
incentives and a new agree-
ment commence.
Some sources also suggest-
ed that a lot of what the former
government promised Baha
Mar was not committed to
paper, and it is possible that
Mr Ingraham may want to
review some elements in. the,
Heads of Agreement.


Baha Mar failed to reach a
supplemental Heads of Agree-
'ment with the Christie gov-
ernment on its project, which
became necessary after the
scale of investment increased
from $1 billion to $2.4 billion.
-The deadline to conclude that
had been March 1, a date that
was vital to Baha Mar.if it
wanted to conclude its casino
and hotel operating partner
agreements with Harrah's
Entertainment and Starwood
by mid-March.
Both those deadlines are
now four months passed, but
both Harrah's and Starwood
have not yet exercised walk-
away clauses in their agree-
ments and are said to still be
committed to the Cable Beach
project. Harrah's is also tak-
ing a 43 per cent equity stake
in the venture.
Demolish
Meanwhile, Mr Sands said"
Baha Mar's plans to demolish
the Nasshu Beach Hotel to
make way for the proposed
Westin, 1,000-room Caesar's
Palace hotel and casino, and
new beach landscape had been
put back. The Nassau Beach
will now be open and receiving
guests until January 3, 2008,
rather than being closed for
demolition this year.
Mr Sands added that after
.. -ust-over one month since the


Radisson was reflagged as a
Sheraton resort, Baha Mar had
"been encouraged by the num-
bers".
"We've seen an increase in
revenue yield in terms of the
average daily room rate com-
pared to last year. We've been
extremely encouraged by the
call volumes, the occupancy
levels and the growth going
forward," he said, adding that
this-was despite some 50 'per
cent of the Sheraton's room
inventory being out of action.
The Sheraton was also still
"a construction zone" as work
on its $80 million rebranding
continued, with all of Baha
Mar's Cable Beach Resorts
having to contend with the fall-
out from the Western Hemi-
sphere Travel Initiative
(WHTI).
In addition, some 300 rooms
at the Wyndham resort had
also been taken out of inven-
tory for refurbishment, and
were not due to come back on
line until early December, Mr
Sands said.
He described this process as
a "total re-gutting of the rooms
and a major, major transfor-
mation, involving infrastruc-
ture and soft changes".
Baha Mar had spent $130
million to date on the Sheraton
rebranding, plus upgrades to
the Nassau Beach and Wynd-
ham resort and casino, Mr
Sands said.


"We've recently totally ren-
ovated the Ballroom space and
the meeting room space al the
Wyndham. which was opened
in the last six weeks." he
.added.
Product
"We believe we've posi-
tioned ourselves for the first
time now to have a product the
marketplace can be comfortl-
able with. particularly the
Sheraton and the Wyndham,
for the 2007-2008 winter sea-
son."
On the West Bay Street re-
routing and Commercial Vil-
lage construction, Mr Sands
added: "We're ready to go, but
that hinges on our ability to
come to an agreement with the
Government of the Bahama,
to build Baha Mar. It's no use
doing that without the com-
plete project being feasible.
"They're [the two projects)
not standalone or mutually
exclusive. They're process,
that are necessary to have in
place to allow us to build Baha
Mar. They're phases of the
major project."
Mr Sands added that the key
objective currently was "get-
ting an agreement with the
Government on how best we
can proceed to accomplish
what we want to accomplish.
and to the satisfaction of the
Government of the Bahamas".


THE AIRPORT AUTHORITY








The Airport Authority is seeking to recruit a

suitably qualified Bahamian to fill the vacant


position


Candidates

tertiary ]

Degree)


of CCTV


Surveillance


for position


level

in


should


Operator.


posses


qualification (Associates

either computer science,


computer technology or business studies and
have effective writing and oral communication


skills. Candidate without


tertiary


level


qualifications must have a minimum of two (2)

years relevant experience.


Interested persons must submit their Resumes

and three letters of reference by Monday 23rd

July, 2007 to the;


Manager, Human Resources

The Airport Authority

Lynden Pindling International Airport

P.O. Box AP-59222

Nassau, Bahamas


i a


BS/


BSI OVERSEAS (BAHAMAS) LIMITED

BSI Overseas (Bahamas) Limited, Nassau, Bahamas, an established
international private bank, with its headquarters in Lugano, Switzerland,
is presently accepting applications for

PRIVATE BANKING HEAD EUROPEAN ASSET MANAGERS

Applicants for the position of Head European External Asset Managers
within the Private Banking Unit must have Banking or Financial education
and at least 10 years experience in the offshore banking sector, well versed
in managing relationships with Professional'Asset Managers, fluent in
Italian and English, good knowledge of French, ability to manage projects,
perform reviews to minimize risks, efficiency oriented, lead small team of
Private Banking Relationship Officers, maintain relationships with other
units and third parties and have knowledge of local legislation, regulatory
& statutory matters as welj as international banking practices.

Personal qualities:

Goal-oriented, self-motivated, positive attitude and outlook
Strong in problem solving, investigative
Customer service oriented
Must be able to work under pressure
Commitment to quality and service excellence
Commitment to continuous training and improvement of allocated
resources
Organisational skills
Flexibility in office hours and hands-on approach when necessary

Responsibilities:

Manage team
Review relationships with counterparts
Develop allocated client segment
Direct involvement with External Asset Managers' clients
Foster and maintain communication with internal/external banking
professionals
Meet deadlines on timely basis

Interested persons with such qualifications should submit their
resume/curriculum vitae to:-

Human Resources Manager
BSI Overseas (Bahamas) Limited
Bayside Executive Park, W. Bay St. & Blake Road
P. 0. Box N-7130
Nassau, Bahamas
Fax no. (242) 702 1253 or e-mail:

(ABSOLUTELY NO PHONE CALLS PLEASE)
Only applicants having the above attributes will be contacted.


Prestigious Private Island Resort has immediate positions
available for the following:
1 Housekeeping Supervisor (a minimum of seven
years experience in supervisory position in major
hotel)
2 Housekeepers
1 Captain/Maitre'd (Formal/gourmet dining room
experience and table side preparation)
1 Seasonal Executive Chef (five to ten years
Caribbean experience and knowledge of
European/American Cooking) ..
2 Cafeteria cooks/attendants (three to five years
experience in a major hotel)


PAGE 6B, MONDAY, JULY 16, 2007


THE TRIBUNE







THETRBUE ONBYJUYI6,E00,SAG 7


S*I


Resort unveils



$ 5.7m luxury



penthouse


By TANEKA THOMPSON
xuma-based Grand
|j' Isle Resort & Spa
has officially
unveiled its newest
'; addition to its luxury accom-
' modations, a $5.7 million pent-
house.
The 5.400 square foot "room
with revenue" penthouse has
four bedrooms, four-and-a-half
baths and a private balcony off
the master suite. It has
enclosed parking for two golf
carts (complimentary with the
stay), 1,236 square feet of ter-
races, and even soundproof
garbage disposals.
Over two days, July 13-14th,
executives at the Grand Isle
Resort and Spa hosted the offi-
cial opening ceremonies,
attended by Minister of
National Security Orville
'Tommy' Turnquest; Minister
of State for Tourism and Avi-
ation, Branville McCarntney;
and Minister of Lands'and
Local Government Sidney
Collie.
The penthouse is the latest
addition to the $110. million
development, which consists
of 78 villas. It is the "latest in
the evolving upscale condotel
development by EGI Ltd, the
developers of Grand Isle
Resort & Spa.
"Based on a principle simi-
lar to condo ownership, 'condo
hotels' allow owners to buy a
room, unit or, as in the case of
one high-end property in Exu-
ma in the Bahamas a com-
plete two-storey villa with the
option to use it when they
want, and place it in a hotel
management company's hands
when they don't," stated Diane
Philips, PR representative for


Grand Isle Resort & Spa.
"Unlike timeshare, the own-
er is not buying one or two
weeks per year, but actually
buying a villa and placing it in
a pool so it can be rented '6ut,'
with the. hotel management
company splitting the rental
revenue with the owner."
Condos
Similar to condos, a condotel
has condo association and
maintenance fees, but what
makes them unique is that they
provide the amenities associ-
ated with hotels, such as maid
services. "What we have cre-
ated is a hybrid," says Jim
Claybaugh, president of EGI


Ltd. "It's the best of both
worlds, a luxurious place to
stay when you want to vaca-
tion, and a revenue-earner
when someone else does."
EGI Ltd employed the Nas-
sau architectural firm, Kenneth
Lam & Associates, and
Bahamian contractors to con-
struct the new penthouse, and
many have cited the develop-
ment .as "the example that
should be.followed for Family
Island success".
Accommodations at the
Grand Isle Resort & Spa range
from one bedroom villas at
under $1 million to the new
penthouse at $6 million. Daily
rates start at $675, topping out
at $15,000 per day.


I NSIGH

Frtesoi


Responsibilities:
* Full responsibilities for all accounting activities including G/
L, A/P, A/R, Payroll & Purchasing
* Cash flow management, financial reporting, forecasting and
budgets
* Manage relationship with current lender and fulfill monthly
reporting requirements
* Manage year end audit and act as liaison to external CPAs
* Manage annual budget process; work with senior manage-
ment to optimize budgets and financial forecasts
* Directly supervising accounting staff of 10
* Overseeing the day- to- day operation of the company
Qualifications:
* Eight to ten years of experience in financial management
with increasing responsibilities for multi-faceted direction
and planning
* Bachelors degree in Accounting or Finance minimum
* CPA designation preferred
* Ability to deal with legal, corporate and general business
matters
* Experience in setting up financial controls; effective at estab-
lishing and improving processes
* Strong communication, analytical and management skills
* Enthusiastic, positive, "can do" entrepreneurial spirit.



Interested persons should apply in writing to
Chief Financial Officer
P.O Box N-4351, Nassau, Bahamas
Deadline for application is Tuly 31st, 2007


As a privately-owned, mid-sized Bahamian Company and
the authorized Caterpillar dealer in The Bahamas, we are

seeking a candidate to work as a Technical Advisor to

support the operations of the Service Department. The
candidate should have the following qualifications:


* Be a graduate with a Bachelors Degree in Mechanical

Engineering;

* Have post-graduate studies in Management;

* Have Caterpillar training in Heavy Equipment Machines;
* Have Caterpillar training in power generation;

* Have 5 years or more experience with working with a

Caterpillar dealer or a similar Organization

* The candidate should have certification as an ISO 9000

auditor and;

* The candidate should have Six Sigma training (a Black

belt in 6-Sigma is preferred).


This candidate is required to be a professional who thrives
on the challenge of developing outstanding customer

relations and service excellence.


Send complete resume with education and work experience

to M&E Limited, P.O. Box N-3238, Nassau, Bahamas,
Attention: Service Manager, or email me@me-ltd.com.


Only persons being interviewed for this position will be
contacted.


HELP WANTED
Automotive Service Company Needs:
Young, energetic female.
Cashier, Receptionist, Computer Experienced Required

Send Resume and References To:
Personel Department,
P.O.Box N-939
Nassau, Bahamas


NOTICE

Pursuant to the provisions of Section 138(4), (a), (b) and (c) of
the International Business Companies Act 2000, of The
Commonwealth of The Bahamas, notice is hereby given that:
(a) RED FIRE MOUNTAIN OFFSHORE
FUND, INC. is in dissolution;
(b) The date of commencement of the dissolution is the
12th day of July, 2007 and
(c) The Liquidator is Keith Aufhauser of 112
West 56th Street New York NY 10019, USA.

KING & CO
Attorneys for the above-named Company

Monique Cartwright-Winder


BSI


BSI OVERSEAS (BAHAMAS) LIMITED

BSI Overseas (Bahamas) Limited, Nassau, Bahamas, an established
international private bank, with its headquarters in Lugano, Switzerland,
is presently accepting applications for

PRIVATE BANKING RELATIONSHIP OFFICER

Applicants for the position of Private Banking Relationship Officer must
have Banking or Financial education and experience in the offshore banking
sector, fluency in Italian, German and French, have strong background
in KYC matters, good knowledge of international financial instruments,
ability to partner with team members, project oriented, and have thorough
knowledge of local legislation, regulatory & statutory matters as well as
international banking practices.

Personal qualities :-

Excellent organizational, communication and.computer skills
'- Goal-oriented, self-motivated, positive attitude and outlook
Project oriented
Commitment to quality and service excellence
Able to work with minimal supervision
Commitment to continuous training and improvement of colleagues
Flexibility in office hours and hands-on approach when necessary

Responsibilities:-
Ensure KYC guidelines are applied on a day to day basis within Private
Banking unit
Organize, implement and monitor KYC and Client Relationship
Management related projects within the Private Banking Unit
Training of Private Banking allocated resources
Liaise directly with customers or their investment advisors or agents
Foster and maintain communication with internal/external banking
professionals
Meet deadlines on timely basis

Interested persons with such qualifications should submit their
resume/curriculum vitae to:

Human Resources Manager
BSI Overseas (Bahamas) Limited
Bayside Executive Park, W. Bay St. & Blake Road
P. 0. Box N-7130
Nassau, Bahamas
Fax no. (242) 702 1253 or email:

(ABSOLUTELY NO PHONE CALLS PLEASE)
Only applicants having the above attributes will be contacted.


THE TRIBUNE


MONDAY, JULY 16, 2007, PAGE 7B







PAGE B, MONDAY, JULY 16,2007
P RAGE 8B, MONDAY, JULY 16, 2007


THE TRIBUNE


.5


Orientation
Wednesday, 22nd August, 2007
8:00a.m. 1:00p.m.


Advisement & Registration
Wednesday, 22nd August, 2007
at 1:00 p.m. 5:00 p.m.

Advisement, Registration & Bill Payment
Thursday, 23rd August, 2007 and
Friday, 24th August, 2007
at 9:00 a.m. 7:00 p.m.
Venue: COB Band Shell


JOB VACANCIES


1. Director of Alumni Relations & Annual Fund
SUMMARY: The Director of Alumni Relations & Annual Fund has two primary responsibilities: to
develop The College of The Bahamas Alumni Relations Programme and to plan and deliver a
successful Annual Fund fundraising program. The incumbent will have direct responsibility for
creating The College of The Bahamas' Annual Fund Programme. The Director of Alumni Relations
and Annual Fund will implement preliminary plans for The College's Annual Fund and will have direct
responsibility for soliciting leadership level Annual Fund gifts. The successful candidate will be
someone with strong interpersonal, communication (both orally and written) and organisational skills
who enjoys the challenge of engaging people on a one to one level. Reporting to Mather Leigh
Inc., strategic counsel to The College of The Bahamas in the operation of alumni relations and
development. This is an excellent opportunity for someone who is a graduate of The College and
Who wants to serve their alma mater and will enjoy working with others to build a new Alumni
Relations and Development Department at The College/University of The Bahamas.
DUTIES AND RESPONSIBILITIES:
'Annual Fund
1. Establish The College of The Bahamas Annual Fund through the implementation of the preliminary
strategic plan for the COB Annual Fund.
2. Provide continued development, evolution and implementation of new Annual Fund strategy.
3. Creates the Annual Fund solicitation, pledge chasing and gift acknowledgement and materials.
4. Creates the Annual Fund donor stewardship programme and materials.
5. In advance of alumni database utilisation, develops an electronic system for tracking annual
fund solicitations, 'solicitation responses and donations.
6. Segments Annual Fund prospects to determine leadership level donors and general Annual
. Conducts face to face, telephoni nd mail solicitations of leadership level Annual Fund gifts.
8. Engages and supports the COB Alumni Association's participation with leadership level gift
solicitations.
9. Maintains electronic/database records of alumni solicitations and contact (email, face to face,
telephone, etc).
10. Designs and implement the Staff & Faculty Fund as part of the Annual Fund Programme.

Alumni Relations -
1. Participates in the development of short and long range strategic planning activities to realize
alumni engagement goals and objectives.
2. Develops and oversee the implementation of the College/University Alumni Relations Programme
including alumni events, alumni publications, alumni communications, alumni events calendar,
alumni special projects and the annual fund.
3. Provides strategic guidance and counsel to the College/University Alumni Association on the
development and delivery of its programs and integration with the College/University Alumni Relations
Programme.
4. Oversees the successful execution of key alumni events, receptions, homecoming and reunion
class programs which builds loyalty and promotes the College in the lives of its graduates. Logistical
support for events is provided through the Office of Communication.
5. Engages senior management in furthering the advancement of alumni relations goals and assists
in educating faculty and staff in respect of the roles they can play supporting alumni and development
generally. .
6. Maintains a lost alumni tracking programme to re-engage alumni with The College.
7. Develops and keep current the College's web presence and web, print and email communications
- to alumni.,
8. Provides a face and contact point for College/University alumni.
9. Works in collaboration with the Communications Department provide content for and co-produce
the Alumni Magazine.
10. Works in collaboration with the President and the senior team to plan and deliver high quality
",and strategic alumni events which serve to strengthen fundraising efforts, alumni engagement,
;iWniversity transition and The College's profile within key constituencies.
KNOWLEDGE, SKILLS, AND ABILITIES REQUIRED:
Ability to plan and execute a range of strategic events.
Excellent interpersonal skills and the ability to interact effectively with academic leadership,
faculty, prospects, donors, and volunteers in a wide range of roles.
Ability to exercise good judgment and to use discretion in interactions with donors, prospects,
volunteers, and others..
Abilityto work effectively within a team environment.
Demonstrated organizational skills and experience in managing events and other complex
activities in support of College/University objectives.
Willingness and availability to travel and to work extended hours as necessary.
MINIMUM KNOWLEDGE, SKILLS, AND ABILITIES REQUIRED:
Bachelor's degree
Excellent interpersonal and communication (written and verbal) skills
Demonstrated ability to present information concisely and effectively, both verbally and in writing
Exceptional analytical skills and experience in managing a program requiring analysis and
strategic planning
Demonstrated ability to organize work and to manage competing priorities and deadlines
< Demonstrated proactive work ethic and ability innovate, set and meet goals
& Proven accuracy and attention to detail
Proficiency in Microsoft Word, Excel PowerPoint, Access /
& Database maintenance arid data entry experience
Prior event planning experience a must
Demonstrated tact, diplomacy and discretion
Excellent computer skills expected
Ability to meet deadlines with minimum supervision.
Willingness to work extended hours and on weekends and holidays if required
A team player and overall pleasant disposition
Commitment to confidentiality
IN ADDITION, THE SUCCESSFUL CANDIDATE WILL HAVE:
Demonstrated ability to network in a professional or personal setting
Be a self-starter and able to work independently
Previous experience in fund raising, sales or marketing
Exceptional IT skills and a proficiency with databases
Good knowledge of The College
2. Development Associate, Alumni Relations & Development
-.With a view to attaining a charter as a university by 2008, the College has embarked aggressively
upon a major expansion of its programme offerings, research activities and physical facilities and
Is incorporating e-leaming methodologies into its repertoire of strategies for delivering instruction.
To underpin this transition to university status, The College is embarked upon a drive to increase
its funding from private sources through the establishment of the Alumni Relations & Development
Office.


SUMMARY:
Working out of The Office of the President, in a team under the direct supervision of Mather Leigh
Inc., the Development Associate provides support for all COB fundraising activities. The Developrpent
Associate position is a 'traineeship' that provides a comprehensive foundation of experience for
those wishing to build a career in higher education advancement. The Development Associate
participates in all fundraising activities including prospective donor research, prospect cultivation
activities & events, donor information/record management, donor stewardship, donor correspondence
and special events. The successful candidate will be someone with strong organisational skills who
is a good communicator both verbally and in writing and who enjoys team work. This is an excellent
opportunity for someone who is also creative and who will enjoy working with others to build a new
Alumni Relations and Development Department at The College/University of The Bahamas.
1. Supports and ensures delivery on a select segment of COB fundraising activities.
2. Provides support and assistance on the process of identifying, cultivating, soliciting, and
stewarding major donors and prospects including individuals, corporations, and foundations,
through strategy based visits and other forms of direct personal contact.
3. Provides support to the maintenance of the prospect pipeline.
4. Assists the Director of Development in educating faculty and staff in respect of the toles they
can play supporting development generally.
5. Supports the management of a select cohort of volunteers and strategic support in their cultivation
and solicitation of major donors and prospects. Coordinates volunteers' activities to ensure theii
integration into The College's vision and goals.
6. Helps to maintain the prospect management database and other institutional resources to ensure
appropriate management of donors, prospects, alumni, and volunteers in coordination with
College objectives.
7. Conducts research to identify prospects and works with the Director of Development to create
strategies to match prospects interests to the priorities of The College.
8. Conducts preliminary research to identify prospects in support of briefing note preparation and
prospect identification.
9. Assists in the implementation of programmes and activities designed to increase the visibility
of the AR&D Office and The College to internal and external constituencies.
10. Represents COB at various community and business meetings, including externally to funding
agencies. .
11. Supports the Director of Development to build and maintain donor and prospect files in support
of prospect pipeline and prospect moves.
12. Conducts internal and external research/fact gathering in support of funding proposal development.
13. Provides follow up support on internal requests for fundraising support from AR&D Office.
,14. Provides support on production fundraising reports and other database reports as needed.
15. Provides coordination and support on donor/prospect events.
16. Maintains list of donations received for Council reporting purposes.
17. Assembles donor kits for events and meetings.
18. Other duties as assigned
19. Works with the Director of Alumni Relations & Annual Fund to directly assist with the solicitation
of leadership level annual fund gifts and on the interface between special and major gift fundraising
and the alumni population.
20. Performs miscellaneous job-related duties as assigned.
KNOWLEDGE, SKILLS, AND ABILITIES REQUIRED:
Ability to conduct research, gather data, analyze information, and prepare effective, accurate,
and timely reports and other documents to support development objectives.
Demonstrated mastery of major business and prospect research databases and general database
software such as.Microsoft Excel with concomitant database management skills.
Excellent interpersonal skills and the ability to interact effectively with academic leadership,
faculty, prospects, donors, and volunteers in a wide range of roles.
Ability to write proposals, solicitations, correspondence, reports, and other materials in support
of development activities independently;
Ability to exercise good judgment, to demonstrate an understanding of ethics related to
development activities, and to use discretion in interactions with donors, prospects, volunteers,
and others.
P Ability to work effectively within a team environment.
Demonstrated organizational skills and experience in managing events and other complex
activities in support of development objectives.
Willingness and availability to travel and to work extended hours as necessary.
The above statements are intended to describe the general nature and level of work being performed.
They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills
required of the Director of Development.
MINIMUM JOB REQUIREMENTS:
Bachelor's degree
Prior fundraising, sales or marketing experience a must
Demonstrated ability to plan and strong communication skills
Excellent computer skills expected
Ability to meet deadlines with minimum supervision.
IN ADDITION, THE SUCCESSFUL CANDIDATE WILL HAVE:
Demonstrated ability to network in a professional or personal setting
Be a self-starter and able to work independently
Proven track record in fund raising, sales or marketing Excellent interpersonal and communication
(written and verbal) skills
Demonstrated ability to present information concisely and effectively, both verbally and in writing
Demonstrated.ability to organize work and to manage competing priorities and deadlines
Demonstrated proactive work ethic and ability innovate, set and meet goals
Proven accuracy and attention to detail
Proficiency in Microsoft Word, Excel PowerPoint, Access
Database maintenance and data entry experience
Willingness to work occasional extended hours and on Weekends
A team player and overall pleasant disposition
Commitment to confidentiality
Compensation is commensurate with qualifications and experience.
The above statements are intended to describe the general nature and level of work being performed.
They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills
required of the Director of Alumni Relations & College/University Events.
Please visit our website at www.cob.edu.bs for more information about The College and to access
The College's Employment Application Form.
Interested candidates should submit a Collegel/University of The Bahamas Employment
Application, a Comprehensive Resume and up-to-date transcripts, along with three work
references no later than July 31, 2007 to:
The Director, Human Resources
The College of The Bahamas
R 0. Box N-4912
Nassau, N. P.,
The Bahamas
hrapply@cob.edu.bs


THE COLLEGE 4

k.. Visit our website at www.cob.edU,.









Parents' Evening ..
Tuesday, 14*h August, 2007 at 6:30 p.m. Th.cos f


__


on FITZ i___ __ __imClNWZ_',i _








THE~~ TRBN MODY JUL 16, 207,PGE9


* ~... )4vqf'~.w',
* .*L~' ~


THE COLLEGE 0

Visit our website at www.cob.edu.bs


I.


BAHA MAS


.EDl :.Li- INGBAHAMIANS


L Ing forunild maigd T ful I Tme!'a t






CHMI Lit'l Chefs Summer Programme
Ages 10 to 14 Years
Nassau / Freeport Campus
July 16 20, 2007
Sessions 9:00am to 3:00pm daily

High Quality Programming: Participants work with trained Chef Instructors
in an industrial kitchen environment and gain exposure to the exciting, challenging
and rewarding field of culinary arts.
High Point: On day five of training each student will prepare a three-coiurse
meal and serve two-invited guests.
Award and Gift: Certificate of Participation, a Chef's Hat and Apron
embroidered with the COB logo and CHMI Lit'l Chefs Summer Programme.
TOPICS: Basic knife skills; vegetable cuts; stocks, soups and sauces; basic
cooking methods; Personal health, safety and hygiene; sanitation; food
presentation and service.
Monday July 16
Tuesday July 17
Wednesday July 18
Thursday July 19
Friday July 20

Thirty (30) Hours of Training in total .
Number of Students per Cohort: 15 (Nassi/ Freepori-t)"
Fee per Student: $165.00 (ingredients and materials included)

FINALE: Top student from each cohort will be featured at the Ministry of
Tourism's Junkanoo Summer Festival Cooking Demonstration July 28, 2007,
Arawak Cay. Each will have an hour and a half to demonstrate the preparation
of one of the menu items they learned to prepare during the programme.
Our programme can help our young chefs to polish listening skills, follow
instructions, develop self-reliance and teamwork ahd acquire some pretty good
skills in the kitchen. You never know... This could be the start of an exciting
care er." 1- , ..',- 1",t-, ; ,...i l o. .

The College of The Bahamas Alumni Association


Hall of Fame

SEEKING NOMINATIONS


What We Are About
iME. The Alumni Association Hall of Fame was established in spring of 2001 by the
s Executive Board of the Association. The purpose is to recognize annually a COB
alumna/alumnus who is making significant contributions to the development of The
Bahamas. It is envisioned that honourees will play a major role in the fundraising
efforts of the Association.
On May 11, 2001, the Alumni Association named Bishop Neil C. Ellis, Pastor,
Mount Tbor Full Gospel Church as its first inductee. Subsequently named were
Larry Gibson, a financial services expert (2002); Laura Pratt-Charlton, a pharmacist/
* 2001 entrepreneur (2003); Tanya McCaitney, an attorney and a former member of.
the Senate (2004), Vernice Walkine, Director General of Tourism (2005) and
Superintendent of the Royal Bahamas Police Force, Keith Bell (2006).


Larry Gibson 2002,




Laura Pratl-Charlton .*'210


Tanya C.
I


Vernice Walkine i


,.- Each honouree is presented with a 36" Silver European Cup, which symbolizes his
or her outpouring of inspiration that causes others to thirst lor "knowledge, truth
and integrity", the values promoted by The College of The Bahamas and reflected
in the institution's motto.
Hall of Fame Award Criteria:
What It Takes to Be Nominated and
'. Become a Member of The Hall of Fame.
The Alumni Association of The College of The Bahamas views induction into its Hall
of Fame as its highest honour. It is a designation extended to individuals whose
lives are the hallmark of The College's motto "Knowledge, Truth, Integrity."


To be considered for the Alumni Association Hall of Fame, nominees must
Have distinguished themselves as students, academically and socially, while at
The C)llege of The Bahamas
2004 Be among the best in their chosen fields of endeavour, displaying scrupulous
conduct that stands as an example to others.
Be a leader and relentless worker whose success benefits co-workers, those they
supervise or employ and the community in general
Excel in civic outreach and make a contribution to society that is easily visible
within their fields and the wider scope of Bahamian life
Exhibit strength of characterthattianslates generallyinto communitystlengthening,
2005 personifying their alma mater's motto "Knowledge, Truth, Integrity."
I Be nominated.


The Hall of Fame Award Nomination Form
may be obtained from
The Office of Alumni
Administration Block
Oakes Field Campus
Or may be downloaded from www.cob.edu.bs
All nomination forms, along with a current portfolio and photograph,
must be submitted by Monday, 31st July, 2007.
For more information, please call the Office of Alumni at 302-4365/6.
Portfolio Size: Fi'e (5) pages Font size: 12 pt Papel 8.5 inches X I1 inches


GALA
Saturday .
Dinner begins at


FES. .TIVAL


















7:00 P .M. Concert8 .'.-.'.,






," ON 1 io

7:00 P.M.. Concert 8,0, p.m.


FABULOUS

GOURM ET


MUSIC

DINING


TICKETS ON SALE AT
CHAPTER ONE BOOKSTORE and
in THE OFFICE OF COMMUNICATION, Block A
Oakes Field Campus


ALL tickets sold for the June concerts
will be honoured.
Gala Concert and Dinner $175
General Admission $50
Faculty $30
Student Admission (with COB ID) $25


For reservations,
sponsorship opportunities-
and further information,
please call ,
Office of Communication
at telephones
302.4304/43531/4354/4366


Rainforest Theatre
Wyndham Nassau Resort Cab.le Bech

FEATURING'-


HALL OF FAI
MEMBERS


Bishop
;*%


ExcuieProduce Ar -Ptrici/amGlicntonMeioa

Show Proucer PrRsoeDms Ltd Jzz


MONDAY, JULY 16, 2007, PAGE 9B


THE TRIBUNE


-1


m


tie






PAG lBMODABUULS1,N00ETESRIUN


Share your news

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






WINDINS BAY
ABACO. SAHAMA*

Construction Project Manager

Minimum 5 years experience in construction
management
Working knowledge of timber and masonry
construction methods
Proficient in reading and understanding construction
plans
Proficient in performing material take-offs and placing
material orders
Working knowledge of construction materials
Proficient with Microsoft Word and Excel
Good communication skills

Warehouse Manager

5-10 years experience managing a large warehouse
Working knowledge of accounting aspect of Warehouse
Management
Computer savvy including proficiency with Microsoft
Word and Excel
Solid day-to-day decision maker
Good Communication skills with both upper
management and labour
Working knowledge of construction materials

Resume should be sent to Nick Sims, Development
Department, The Abaco Club on Winding Bay, P.O. Box
AB-20571, Marsh Harbour, Abaco or fax #242-367-2930
xt -.4 S flSSflASL 4Afl.t...1.fh. ^ "*'f b *'


Freeport Concrete chief


refer to the headline in
The Tribune's business
section on July 6, 2007,
which read as follows:
LICENSEES TO SEEK
'MILLIONS' IN CUSTOMS
DUTIES REFUNDS
Chamber chief: Verdict gives
Home Centre competitive
advantage by bringing in all
inventory as bonded
'Rivals to seek legal advice,
as end to pre-paid duties would
provide huge business cash
flow boost
I am the president and chief


executive of Freeport Concrete
Company, which is the parent
company of the Home Centre,
and I feel duty bound to
respond to certain statements
made by Christopher Lowe in
this article.
From the headline- in the
article, it appears that he is
making these statements as the
president of the Grand
Bahama Chamber of Com-
merce, an organisation of
which Freeport Concrete
Company is a member. Rather
than making bold statements
that the verdict gives the
Home Centre a competitive


LETTER TO THE BUSINESS EDITOR


advantage, he, as the president
of the Grand Baham Chamber
of Commerce, should be con-
gratulating us.
Since September 2006 when
the Home Centre opened,
after successfully winning an
injunction against Customs to
allow us to operate until such
time as the judicial review took
its course, I have read and
heard much from Mr Lowe
about bonded goods in
Freeport.


To be honest, I am not sure
which side of the fence he is
on. My best guess is that he is
sitting on the fence. When it
suits him and his company,
Kelly's Freeport, he is for it,
and when it doesn't suit his
company he is against it. As
the president of the Grand
Bahama Chamber of Com-
merce he should know which

SEE next page


MIDWAY
"Where Our Quality & Experience Shine!"
^ lSpecializing in:
.'. Roofing, Home Maintenance, Painting & Varnishing,
;' *t Pressure & Mildew Cleaning, Roof Painting, Water
"Pr ofing Proofuming, Plumbing, Window Cleaning, Drywall
t Installation, Replace Rotten Woodwork,
Laminate Floor, Tiling, Repair ,
,Cracks to Concrete Walls



LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No. 46 of 2000)

GOODWICK INTERNATIONAL LIMITED
IBC NO. 13,698 B (In Voluntary Liquidation)
NOTICE is hereby given that in accordance with Section 131 (2) (a) of
the International Business Companies Act No. 46 of 2000, GOODWICK
INTERNATIONAL LIMITED is in Dissolution.
Any person having a Claim against GOODWICK INTERNATIONAL
LIMITED is required on or before the 22nd day of August, 2007 to send
their name, address and particulars of the debt or claim to the Liquidator
of the Company, or in default thereof they may be excluded from the
benefit of any distribution made before such claim is approved.
Kuttikatt Samuel Verghese, of Villa 19, Gate 1217, Road 1832, Barbar
518, Kingdom of Bahrain, is the Liquidator of GOODWICK
INTERNATIONAL LIMITED.


Snow

A N S BR ,A' -I
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

CLIENT RELATIONSHIP MANAGER

Duties include:

Management and motivation of a small team of relationship officers
providing guidance, supervision, performance, personal development &
control of the job reporters.
Having accountability for the relevant team's performance ensuring
the teams objectives and developments, are up to date.
Cross-selling the group products in conjunction with organizations goals.

Acting as. the main contract for clients on your relevant-portfolio: sourcing,
collating and managing all their needs either internally or externally.
Working within a closely regulated environment offer financial input to.
clients.
Implementing case management strategies, together with the ability to
service high net work clients/intermediaries.

Candidates should possess:
ACIB or ABIFS diploma or degree in Banking or a related business field
Seven or more years of management experience, ideally covering banking
and control management
Proven leadership, interpersonal and strong motivational qualities
Strategic awareness with in the private banking industry
Spanish speaking skills would be an asset

Excellent salary & benefits
Please send all resumes to the attention of:
Human Resource Manager
Ansbacher (Bahamas) Limited
P.O. Box N-7768
Nassau, Bahamas
Fax: 325-0524
Email: hrmanager@ansbacher.bs

Deadline for all applications by hand, fax or email is
July 20th, 2007
t-


FIRSTCARIBBEAN
INTERNATIONAL BANK

CAREER OPPORTUNITY
for

-Human Resources Manager

Nassau, Bahamas
Qualifications:

Bachelor's degree in related field (Mandatory) Masters Degree
preferred
5 10 years experience in Human Resources (HR). A broad
knowledge/experience base in several HR areas (e.g. consultation,
recruiting, employee relations, etc.)
Knowledge of employment law and industrial relations
PC skills: Advanced Excel and Word mandatory

General Responsibilities (not all inclusive):

,A Employee Relations Provide guidance to managers & supervisors
in supporting proactive HR plans, products or activities. The incumbent
will develop an understanding of the client's business and a relationship
with managers & supervisors and other staff within the client units
by maintaining a close consultative relationship
/ In consultation with the HR Head, provide input into strategies,
policies, procedures and new initiatives to ensure they are consistent
with overall Bank strategy and objectives
/ Provide operational management of on-going activities in the delivery
of services (compensation, HR administration), including the
supervision of some HR staff
/ Provide support to the HR Business Partner in all IR negotiations and
strategy development
/ Responsible for all entry-level recruitment including management of
requests from the business and the FirstStart Initiative
/ Provide guidance and counsel on hiring and discipline practices
/ Plans human resources activities and ensures they are carried out to
service standards

Remuneration:

Salary commensurate with management position at the FC Level 6
(Note: 1 11job levels)
Benefits- attractive salary, six weeks vacation, preferred loan rates,
employee share purchase plan, variable incentive pay (bonus), medical
scheme, pension benefit.

Applicants are requested to submit their resume with a cover letter via
email by July 23rd 2007 to: siobhan.lioyd@firstcaribbeanbank.com
FirstCaribbean International Bank (Bahamas) Limited thanks all applicants for their interest,
however only those under consideration will be contacted.

Vacancies are open to Bahamians only.


PAGE 10B, MONDAY, JULY 16, 2007


THE TRIBUNE


TVefiiBZ












responds on bond ruling


.- side of the fence he is on, and if
he is on the side of making it
better to do business in
Freeport he should fully sup-
port us, and give us thanks and
praise for actually winning this
judgement.
In the article, the following
statement was attributed to
him: "The verdict has given the
IHome Centre's business a
tremendous boost because it
, did not have to pay any cus-
toms duties on its inventory,
which was being brought in
entirely bonded."
This is not correct.
The Home Centre has paid
customs duties up front on
numerous items that, prior to
this judgement, were regard-
t ed as being 'consumable
IL stores', and therefore not being
capable of being sold bonded,
such as housewares, certain
size televisions, vacuum clean-
ers etc. What Mr Lowe failed
to say in the article is that his
company, Kelly's Freeport,
also brings in bonded goods,
just like the Home Centre,
whereby they do not pay any
customs duties up front, or
: even at all, if they sell these


items bonded to other Grand
Bahama Port Authority
(GBPA) licensees.
We have no axe to grind
with Customs. We were forced
to do what we had to do back
in September 200(X)6, as Customs
were refusing to allow us to
open up our Superstore unless
we paid customs duties on our
entire inventory. If we had
done this then everything in
our store would have been
duty paid, and as 70 per cent of
our business is bondpd sales to
other GBPA licensees, this
would have effectively finished
us off and handed the majority
of our business to Mr Lowe at
Kelly's, who is allowed to bring
in both bonded and duty paid
goods.
I might add that had this
happened, over 100 Bahami-
ans would have been out of
work and over 700 Bahamian
shareholders in our company
would have seen their invest-
ment wiped out.
Obviously, as president and
chief executive of this company
I could not let this happen,
which is why it was necessary
to retain Gregory Moss, of


Moss & Associates, to file an
injunction against Customs to
allow us to open and continue
to operate while the judicial
review process took place. For-
tunately. the judicial review
proceedings ended with a rul-
ing in our favour and here we
are today.
When we went through the
planning stages of this new
Superstore, our main goal was
to have a store in Freeport that
was on par with a Home
Depot or Lowes in the US,
with excellent prices so that
Bahamians in Grand Bahama
would be'able to enjoy a great
shopping experience and spend
their dollars here at home. We
are on our way to achieving
that, and we can offer good
prices because we are allowed
to bring in bonded inventory
and display it on our shelves
just like in the US. We have
an excellent point of sale pro-
gramme that keeps track on
all items that have been
brought in bonded and sold
duty-paid, and in the five years
that I have held the position
of chief executive of this com-
pany we have faithfully paid
customs duties each and every
month. In fact, Customs offi-
cials complemented us on this
matter when this whole
episode started back in 2006.
When the injunction hap-
pened and the judicial review
process started over nine
months ago, we knew this
would be a landmark case
when it went to court.
Whichever party won, we
knew it would impact on busi-
nesses here in Freeport. We
are delighted that it went in
our favour, and this can only
be good for all GBPA


licensees as it levels the playing
held.
I would recommend to all
businesses in Freeport that
they get a copy of the 65-page
judgement in this case, so one
can get the real story on the
whole matter. It is by no means
a simple decision, as some wish
to convey. Rather, it is quite
encompassing and the long-
term effects on our community
will be positive and good for
trade in Freeport.
This ruling will allow us in
Freeport, which is already a
duty-free zone, to compete
more effectively with US busi-
nesses that are selling to our
licensees. Rather than all the
funds going to the U., we all
would keep a majority of the
funds here in our own econo-
my.
We believe in open trade
and that competition is good
for Freeport, as it reduces the
cost of goods to our contrac-
tors and related businesses,
which in turn reduces the cost
of construction and all con-
sumers gain. In our opinion,
prices have been kept high for
far too long, and is not helping
the community during these
tough economic times.
With regard to going back
in time and trying to recoup
monies that have been previ-
ously paid, we would all like
to benefit from this. However,
it is not practical, nor have oth-
er companies in past Customs
judgements, to the best of our
knowledge; gone back in time
to try and threaten to collect-
previously paid funds. Most
people would say 'Hooray' and
thank the courts in that they
didn't have to go through all
the time, costs and litigation,


and then move on to take
advantage of the cost savings
for itself and its customers.
Ray Simpson,
President and Chief


Executive Officer,
Freeport Concrete
Company Ltd
July 13,2007


A large company in the hospitality industry with
offices based both in the USA and The Bahamas is
looking for a Chief Operating. Officer with strong
business skills; experience in the hospitality industry
a plus.

RESPONSIBILITIES

* Business planning and development
* All operational functions for the business.
* Staff supervision, training and development
* Liaising with bankers, lawyers and accountants.


MINIMUM REQUIREMENTS

* Bachelor's degree in Business Management
* 10 years experience in Management.
* Computer literate: Knowledge of QuickBooks &
Microsoft Office.
* Strong organizational skills, including the ability
to prioritize, multi-task and work effectively with
no supervision
* Independent and self motivated
* Excellent communication, planning and analytical
skills
* Experience managing a team

Salary commensurate with experience.

Please send resume to:
coo
P.O Box CB-13335
Nassau, Bahamas
___________________


LEGAL NOTICE


NOTICE


WHA RYUN ENTERPRISES
LIMITED

Notice is hereby given that in accordance with Section 137
(4) of the International Business Company Act (No. 45 of
2000), WHARYUN ENTERPRISES LIMITED has been
dissolved and struck off the Register according to the
Certificate of Dissolution issued by the Registrar General
on the 5th day of June, 2007.

Mr. Paul Evans
c/o Helvetia Court
South Esplanade
St. Peter Port
Guernsey, GY1 4EE
Liquidator


I1A e

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


SENIOR CLIENT ACCOUNTANT

To accurately and promptly prepare periodic financial statements for
a case load of Trust and Companies. Maintain the accounting records
in accordance with International Financial Reporting Standards.

The successful candidate must have the following qualifications
and experience:

CPA certification with at least 2 years post qualification experience

Previous client accounting experience would be preferred but is
not mandatory.

As a Senior Client Accountant you will be expected to be self
motivated, have the ability work independently and have good
written and verbal communication skills

An in-depth, knowledge of Trust Accounting and experience with
complex fiduciary structures would be an asset.

Computer literate with high proficiency in Microsoft Office
Applications (Word, Excel, Outlook)

Salary commensurate with experience and ability

Excellent salary & benefits

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

Deadline for all applications by hand, fax or email is
July 20th, 2007


FIRSTCARIBBEAN
INTERNATIONAL BANK

CAREER OPPORTUNITY
for

Director, Corporate Banking -

Bahamas OPCO
Qualifications:

Graduate status with minimum of 7 years experience in the
business/financial
Ability to work effectively within and across complex matrix structures.
In-depth understanding of Corporations business, financing solutions,
issues and challenges.
A solid record of results, in business development, relationship
management and leading relationship management teams.
Focused and motivational leadership skills to galvanize a team to work
collaboratively and effectively for customer value and profitability.
High level of understanding of the markets, geographic, macro economic
and global factors impacting our client base.
Superior ability to interpret complex corporate client needs and to
assemble innovative value-adding solution that achieve Client objectives.

General Responsibilities (not all inclusive):

Deliver planned targets by aggressively growing the book of profitable
business and increase the relative contribution of the Corporate Banking
to overall business profitability.
Enhance and strengthen the reputation of FirstCaribbean International
Bank and the Corporate Division in markets by developing and
maintaining an external network of key stakeholders, prospects,
community involvement, and playing a key role in the business
community at large.
Effectively lead and mentor the team of business development and
relationship managers who originate and provide business solutions
to clients in thecorporate and commercial markets in the Bahamas
OPCO.

Remuneration:

Salary commensurate with management position at the FC Level 11
(Note: 1 11 job levels)
Benefits- attractive salary, six weeks vacation, preferred loan rates,
employee share purchase plan, variable incentive pay (bonus), medical
scheme, pension benefits.

Applicants are requested to submit their resume with a cover letter
via email by July 23rd, 2007 to:
Deangelia.deleveaux@firstcaribbeanbank.com

FirstCaribbean International Bank (Bahamas) Limited thanks all applicants for
their interest, however only those under consideration will be contacted.


THE TRIBUNE


,MONDAY, JULY 16, 2007, PAGE 11B


js cal 32-1880 today!







BUSI S i T


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"t'I I R lin I i h -I'O ,) II I I I - i ,!' I li t.






SAI i l '( I


NOTICE


CASTLEROCK INTERNATIONAL LTD.
(In Voluntary Liquidation)


"oti'ce s! her,-by give, Ii at alh 'ov-. l- i 1 ,l.( ornpany
iS in dissolution,, which cumin-niti e,' o' the 9th day
, ,r .Iily ie I i i . ,, ,p ic .t P
, ,. / ," t l c-'i' 1 i'



;, ', "i l l l .

.'; -..-^J8'1~~~ "^ '^jf^rf ,i. 1[,.Qm o"


Reform our 'dead





or alive' bankruptcy/





liquidation laws i
liqui -


'FROM page, I

';I pul)it in lu i at 'iil 1 Alnll indi
ir cc ivCl s ili it ll ;i It iil. o1
;ico nltl 1s cn alsled i..r s if'

l t i o I I ll I ci) l li i. I c l I I, 'IC
Ii, hci\ CI Ii I .lc I 't 1 u iid0 ik i

il I .CC i si l'lS .\\ I, lui c it';
SIt l- LL 1 i iI \ t u l I L
t k llll iA I ;, l lle\ \\ ill glk- tu l ltll:
\\ ill (i, cdiclt'il s il all ,ll iilptl (it
SC'c k a t lck llciC l f litCho H1-lle -
|Iny"i d I debts, (I .' lt Ii I, l cs.I ithiI
ihtc l ull o llai u .i t I I I l 1 1 ,il .;
ow ctl. BI ;1 .< 1 i', .. i ,n I J I
liq(iIIalate olllm p;:,,i, ., Ii i -4 l)u
i ..lll -i hk iN ol.k>'ld (Id.
I he b-lk,, lal i lha" se ien
n iiilw'i o<'o lI i.h-p) o l lie
i .,.ci\ Ie sliip uli l h lk|LidalluS
inll I'ceil \ears. /\lint thll e l i
\\iat ( jlild stali. I .1 i Ili., k li il
\iSs pu)tl ilo tlhe cA.re of
i receivers .PricewaterhouseC-


oopers (PwC) Bahamas. The
firm was ultimately liquidated
after no solution for its debts
was worked out, and it was
realized that the chicken farm
business model was not viable.
PwC (Bahamas) accountant
Wayne Aranha is also the
joint-ieceiver for Emerald Bay
Resort Holdings, the vehicle
that owns the Four Seasons
l-imerald Bay Resort, along
with a London-based PwC
partrier. Russell Downs.
PwC were appointed as
iCLCivers by the resort's main
creditor after Emerald Bay
,Resort Holdings failed to sell
the property and defaulted on
its debt repayments in April
2007. The PwC duo are now
trying to find a buyer for the
Four Seasons Emerald Bay
Resort, a sale being a common
solution for distressed, indebt-
ed and insolvent companies.
There have been numerous
other Bahamas-based busi-
nesses, large and small, that
have faced financial difficul-
ties and either been sold or
gone into liquidation.
Mr Smith, though, said the
lack of bankruptcy/liquidation
protection for Bahamian com-
panies acted as a disincentive
for entrepreneurs, and meant
many business ideas were
killed off before they started
to bear.fruit.
"If we have more sensible
bankruptcy legislation, busi-
nesses could more easily sur-
vive, regroup and regenerate,
which is what happens in the
US under Chapter 11," Mr
Smith said, pointing out that


in the US indebted companies
were given much more time
and easier terms under which
to sort out issues with credi-
tors.
A prime example of this,
which had implications for the
Bahamas, was Winn-Dixie, for-
mer owner of Bahamas Super-
markets, which went into
Chapter 11 bankruptcy pro-
tection and has since emerged,
at least in theory, as a leaner,
more profitable business.
The $54 million sale of its 78
per cent stake in Bahamas
Supermarkets to the BSL
Holdings buyout group proved
a key step in its re-emergence
from bankruptcy.
Mr Smith said of the need
for a Chapter 11 equivalent in
the Bahamas: "If we had such
legislation, the Driftwood
Group of Companies in
Freeport would not have been
at the mercy of Lehman Broth-
ers, and the economy of
Freeport would not have been
condemned to a recession for
the last four years as a result of
one large, important hotel
operation having to close down
because it could not pay its
debts."
Driftwood (Freeport) closed
the Royal Oasis resort in the
aftermath of Hurricanes
Frances and Jeanne in Sep-
tember 2004, leaving behind
more than $22 million in debts.
The property was taken over
by its mortgage holder,
Lehman Brothers' private
equity arm, and has been
closed ever since as attempts
were made to sell the property.


invites applications for the


Ms Smith said that if thei6
Bahamas had emulated US,.
laws, Driftwood (Freeport)-
would have been able to "file-
for Chapter 11, get protection
from Lehman Brothers, Royal *;
Oasis staff would still have had'
their jobs and creditors would'
still have been paid. As long'.
as there's some cash flow, they.
could still have operated".
Previously, Mr Smith had
called for foreign investors
operating in the Bahamas to
guarantee the financial obliga--;
tions of their subsidiaries in
this nation, or put up some
form of performance bond.
This, he argued, would pro-
vide protection for Bahamian
companies doing business with 1
these subsidiaries, which were
often little more than "shell I
companies" that had no assets
of their own.
Often set up as special pur-
pose vehicles or off-balance i
sheet entities, for-the specific I
purpose of acting as holding
vehicles for Bahamas-based
investments, many times they '
acted as little more than con-
duits for funneling investments
into projects and taking divi-
dends out.
Mr Smith said that he had
acted in many cases where
Bahamas-based businesses
were owed "hundreds of thou-'
sands of dollars" by investors
who had walked away from
their projects. As their entities
here had no assets, Bahamian
creditors had no protection-,
and nothing to claim against
when they defaulted on their
debts, he argued.





position of


Senior Internal Auditor

SUMMARY:
In this highly visible position you will be part of a small team
performing audits on the banking, insurance and securities principles
and practices of the Fidelity Group of Companies.


* RESPONSIBILITIES:
*' Conducting meetings and interviews with all levels of'
management and personnel
Performance of thorough studies of business processes for areas
under audit
Developing specific audit procedures to accomplish the objectives
4 f of the audit to determine whether assets are adequately safe
guarded and whether policies, plans, and procedures are complied
with and whether management reports are accurate
Performance of specific audit tests and thoroughly documenting
work performed in the audit working papers
Drawing conclusions based on the results of tests performed
Arriving at feasible cost effective solutions to problems
encountered and making specific recommendations
Organizing the audit working papers in a manner conducive to
developing a report on audit results, findings, and
recommendations
Holding preliminary discussions of the audit findings and results
with operating personnel to verify facts and to ensure that every
I i one has a thorough understanding of the nature, source and
extent of the issue. Also, input and action plans of operating
personnel are obtained
Preparing reports detailing the audit results, findings, and
recommendations

QUALIFICATIONS:
To be successful in this role you will have a Bachelors degree in
accounting or a Bachelors degree in finance or business administra-
tion with advanced knowledge of accounting principles. You will
have at least 2-5 years of auditing experience and have a good
working knowledge of Microsoft Excel and Word. You will also have
strong written skills, the ability to understand and analyze opera-
tional functions, excellent problem solving skills and excellent inter-
* personal and communications skills.

The Senior Internal Auditor is expected to work towards or have a professional designation
such as CPA or CIA and should be willing and able to travel about 10-15% of te year.

The Senior Internal Auditor reports directly to the Group Internal Auditor. A competitive
Compensation package is offered and will include salary, benefits and bonuses.

Send resumes no later than 20th July 2007 to:
Group Internal Auditor

51 Frederick Street
P.O. Box N-4853
Nassau
^K -ax 328.1180 .


THE TRIBUNE


P-)AGF ,12B, MONDAY in I i '


4auil







THETRBUENONAY J


Bank solution to deliver



.75 per cent lower costs


FROM page 1
reason why we cannot have the
ACH functioning adequately
by the end of 2007."
Mr McWeeney said Mon-
tran had the advantage of
knowing how the Bahamian
monetary system worked as a
result of its work with the Cen-
tral Bank of the Bahamas in
previously installing the Real
Time Gross Settlement
(RTGS) system, which deals
solely with major inter-bank
and large customer transac-
tions.
,The ACH testing would take
place in a 'go-live' environ-
ment, and once transactions
were conducted and completed
in a "satisfactory manner", all
Bahamas-based banks would
be invited to participate in a
process billed to "move swift-


ly".
Mr McWeeney said: "We're
talking about the entire bank-
ing system coming together
and making an agreement. If
we'd gone with a previous
solution, we'd have spent mil-
lions of dollars without bring-
ing efficiency to the market.
"What we accomplished in
this case is bringing efficiency
to the market at a quarter of
the cost) and the timeframe for
implementation is dramatical-
ly reduced."
The Clearing Banks Associ-
ation, said Mr McWeeney, was
now preparing documents that
would allow Montran to apply
for work permits for the spe-
cialised personnel it needed to
bring into the Bahamas for the
ACH project.
Mr McWeeney was respond-
ing to Dionisio D'Aguilar, the


LEGAL NOTICE

NOTICE

PRIESTER LIMITED

NOTICE IS HERE BY GIVEN as follows:
(a) PRIESTER LIMITED is in voluntary dissolution under
the provision of Section 137 (4) of the International
Business Companies Act 2000.
(b) The dissolution of the said company commenced on the
12th July, 2007 when the Articles of Dissolution were
submitted to and registered by the Registrar General.
(c) The Liquidator of the said company is Credit Suisse Trust,
Rue de Lausanne 17 bis, Geneva.
Dated this 16th day of July, A.D. 2007.

Credit Suisse Trust
Liquidator


S,;, L EGAL NOTICE-


NOTICE

HARRIER INTERNATIONAL CORP.

Notice is hereby given that in accordance with Section 137
(4) of the International Business Company Act (No. 45 of
2000), HARRIER INTERNATIONAL CORP. has been
dissolved and struck off the Register according to the
Certificate of Dissolution issued by the Registrar General
on the. 2nd day of July, 2007.

Ms. Ximena Furtado Cazes
Juncal 1305, 21st Floor
Montevideo, Uruguay
Liquidator


Bahamas Chamber of Com-
merce's president, who has
repeatedly called for the ACH
implementation to be com-
pleted.
He views it as a way of
reducing the business commu-
nity's dependence'on cash and
cheques, in turn lowering their
attractiveness as criminal tar-
gets and improving cash flow
and payments integrity by pro-
viding early warning of
bounced/bad cheques.
While it had been hoped
that the ACH would be oper-
ational by mid-2007, it now
looks that this deadline has
been pushed back slightly,
based on Mr McWeeney's
comments.
The Bank of the Bahamas
International managing direc-
tor said of the ACH's benefits:
"It will allow the more efficient
transaction of business, con-
ducted in a more efficient man-
ner and absolute fashion.
"The ACH is specifically
designed in the context of what
we're doing to allow the effi-
cient transaction of cheques,
direct debits and direct credits.
We are introducing best prac-
tice international standards
into the monetary system,
which is what is needed."
Mr McWeeney disagreed
with Mr D'Aguilar's comments
that the ACH was necessary
for Bahamian businesses to
participate in e-commerce, say-
ing that what instead was need-
ed was a SWITCH system.
"The SWITCH creates the
dynamics in the system, allow-


ing anyone to use any credit
or debit card anywhere in the
system," Mr McWeeney said.
"The issue of a SWITCH will
more than likely come after an
ACH."
The SWITCH is thus likely
to be a product of the ACH's
second stage, as it will allow
all bank branches to commu-
nicate with those from another
institution, and permit
Bahamians to withdraw cash
from any Automatic Teller
Machine (ATM) in this nation,
regardless of whether it
belongs to their bank.
The third phase, Mr
McWeeney said, could lead to
the creation of a National Pro-
cessing or National Archiving
Centre for the entire Bahami-
an commercial banking system,
where all transactions are
processed and cleared. Cur-
rently, all the banks have their
own separate processing cen-
tres to handle such functions.
Mr McWeeney said the
Bahamas had learned from the
experiences of other nations in
the Caribbean when it came to
implementing an ACH, point-
ing to Barbados, where such a
project had taken seven years.
As a result, the Central
Bank and the Clearing Banks
Association had sought the
. "best values system suited to
our economic environment"
and the business community's
needs.
"I am confident we will have
found a solution that accom-
plishes that," Mr McWeeney
said.


Legal Notice
NOTICE


JEEVESLAND INC.



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



ARGOSA CORP. INC.
(Liquidator)




NOTICE


EXXONMOBIL EXPLORATION AND
PRODUCTION (SAMARA)LIMITED

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice is hereby
given that the above-named Company has been dissolved and
struck off the Register pursuant to a Certificate of Dissolution
issued by the Registrar General on the 29th day of June,
A.D., 2007.

Dated the 12th day of July, A.D., 2007.


K. L. Floyd
Liquidator of
EXXONMOBIL EXPLORATION AND PRODUCTION
(SAMARA) LIMITED






Requires



Minimum four years experience in
Commercial or Litigation practice
Knowledge of and preparation of
legal documents
Shorthand/speedwriting and
organizational skills required
Attractive benefits


Reply in confidence to:
Email: vacancy50@gmail.com


LEGAL NOTICE


NOTICE

DAILY POWER HOLDINGS LTD.

Notice is hereby given that in accordance with Section 137
(4) of the International Business Company Act (No. 45 of
2000), DAILY POWER HOLDINGS LTD. has been
dissolved and struck off the Register according to the
Certificate of Dissolution issued by the Registrar General
on the 21st day of May, 2007.

Rustem Limited
Trident Chambers
P. 0. Box 146
Road Town, Tortola
British Virgin Islands
Liquidator


LEGAL NOTICE

NOTICE

MARLICO MANAGEMENT LIMITED

NOTICE IS HERE BY GIVEN as follows:
(a) MARLICO MANAGEMENT LIMITED is in voluntary
dissolution under the provision of Section 137 (4) of the
International Business Companies Act 2000.
(b) The dissolution of the said company commenced on the
12th July, 2007 when the Articles of Dissolution were
submitted to and registered by the Registrar General.
(c) The Liquidator of the said company is Credit Suisse Trust,
Rue de Lausanne 17 bis, Geneva.
Dated this 16th day of July, A.D. 2007.

Credit Suisse Trust
Liquidator





Requires



Minimum four years experience in
Commercial or Litigation practice
Knowledge of and preparation of
legal documents
Shorthand /speedwriting and
organizational skills required
Attractive benefits


Reply in confidence to:
Email: vacancy50@gmail.com


LEGALNOTICE
NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

In Voluntary Liquidation
Notice is hereby given in accordance with Section 138 (4) of
the International Business Companies Act, (No.45 of 2000),
NORWICH INVESTMENT CORP. is in dissolution. Mrs.
Alrena Moxey is the Liquidator and can be contacted at
Winterbotham Place, Marlborough & Queen Streets,
Nassau, Bahamas. All persons having claims against
the above-named company are required to send their
names addresses and particulars of their debts or
claims to the Liquidator before 16th August,! 2007.



UQIDATOR

LEGAL NOTICE
NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

In Voluntary Liquidation


UGviDATO


West Place 1

In Beautiful Westridge




SINGLE FAMILY

LOTS FOR SALE

Prices Start at

$175,000




For The Exclusive Agents

Call'

Geoffrey Brown at

325-1406 Or 322-2683

or Call

Stephen Sweeting at

328-1925 or 359-0851


Notice is hereby given in accordance with Section 138 (4) of
the International Business Companies Act, (No.45 of 2000),
BAHAMAS COMMODITY SYSTEMS (BCS) LTD. is in
dissolution. Mrs. Alrena Moxey is the Liquidator and can *
be contacted at Winterbotham Place, Marlborough & Queen
Streets, Nassau, Bahamas. All persons having claims against
the above-named company are required to send their names
addresses and particulars of their debts or claims to the
Liquidator before 16th August, 2007.


MONDAY, JULY 16, 2007, PAGE 13B


THE TRIBUNE








PAGE 145, MONDAY, JULY 16, 2007 THE TRIBUNE '


GN-531










SUPREME COURT


SUPREME COURT
PROBATE REGISTRY
PO. BOX N-167
Nassau, The Bahamas
July 19, 2007
Probate Division
2007/PRO/npr/00306
IN THE ESTATE of DORANE ROBERTSON
CELENTANO, late of 205 Glenmore Street in the Village
of East Williston in the County of Nassau in the State
of New York one of the United States of America,
deceased

NOTICE is hereby given that after the expiration of
fourteen days from the date hereof, application will be
made to the Supreme Court of The Bahamas, on its
Probate Side by WILLIAM P. HOLOWESKO, of Lyford
Lane, Lyford Cay, New Providence, one of the Islands
of the Commonwealth of The Bahamas, Attorney-At-
Law, the Authorized Attorney in The Bahamas, for
obtaining the Resealed Grant of Letters Testamentary
in the above estate granted to VIRGINIA R. HECKERT
AND ROBERT W. HECKERT, the Executors, by the
Surrogate's Court of Nassau County, in the State of
New York one of the United States of America, on the
13th day of February 1992.
Signed
K Mackey
(for) REGISTRAR


COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00307
Whereas, JEAN ALLEN of East Bay Street, Eastern
District, New Providence, one of the Islands of the
Commonwealth of The Bahamas has made application
to the Supreme Court of The Bahamas, for letters of
administration of the Real and Personal Estate of
GEORGE WILLIAM ALLEII, JR., late-of TheEastern
Road,:Eastern District, Ne v Providence, one of the:
.,ilJslandstoftheCommonm/ealth of The Bahamas,
deceased.
Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.
Signed
Desiree Robinson
(for) Registrar



COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00308

Whereas, WEALTHEA WHYMMS of #75 Hamilton
Street, Western District, New Providence, one of the
Islands of the Commonwealth of The Bahamas has
-made application to the Supreme Court of The
Bahamas, for letters of administration of the Real and
Personal Estate of ROBERT L. WHYMMS late of #75
Hamilton Street, Mount Pleasant Village, Western
District, New Providence, one of the Islands of the
Commonwealth of The Bahamas, deceased.
Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.
Signed
Desiree Robinson
(for) Registrar



COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00309
Whereas, ELAINE ARNETT of Amerylis Avenue, New
Providence, one of the Islands of the Commonwealth
of The Bahamas has made application to the Supreme
Court of The Bahamas, for letters of administration of
the Real and Personal Estate of TORQUIL ARNETT
late of Amerylis, New Providence, one of the Islands
of the Commonwealth of The Bahamas, deceased.
Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.

Signed
Desiree Robinson
(for) Registrar


Probate Division
2007/PRO/npr/00310


SUPREME COURT
PROBATE REGISTRY
P.O. BOX N-167
Nassau, The Bahamas
July 19, 2007


IN THE ESTATE of JON R. RUHLMAN, late of Shoreby
Drive in the Town of Bratenshl in the Country of
Cuyahoga in the City of Cleveland in the State of Ohio
one of States of the United States of America,
deceased
NOTICE is hereby given that after the expiration of
fourteen days from the date hereof, application will be
made to the Supreme Court of The Bahamas, in the
Probate Division by WILLIAMS EDGAR PILCHER of
the Eastern Road, Eastern District of the Island of New
Providence, one of the Islands of the Commonwealth
of The Bahamas, Attorney-At-Law, the Authorized
Attorney in The Bahamas for obtaining the Resealed
Grant of entry appointing Fiduciary Letters of Authority
in the above estate granted to BARBARA P. RULMAN
the Executrix of the Estate, by the Probate Court of
Cuyahoga County, Ohio, one of the States of the United
States of America, on the 12th day of May 2006.
Signed
Desiree Robinson
(for) REGISTRAR


COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00312
Whereas, GLORIA PATRICIA DAWKINS nee LEWIS
of Butter Cup Lane, South Beach, Southern District,
New Providence, one of the Islands of the
Commonwealth of The Bahamas has made application
to the Supreme Court of The Bahamas, for letters of
administration of the Real and Personal Estate of DAVID
DAWKINS late of Butter Cup Lane, South Beach,
Southern District, New Providence, one of the Islands
of the Commonwealth of The Bahamas, deceased.
Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.
Signed
Desiree Robinson
(for) Registrar




COMMONWEALTH OF THE BAHAMAS
''fIE SUPREME COURT
PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00313
Whereas, BERYL ANDREA WILLIAMS of 8 Benson
Road, Dannottage Estates, Eastern District, New
Providence, and SIDNEY ALEXANDER CAMBRIDGE,
Jr., of No. 9 Chancery Lane, Winton Estates, Eastern
District, New Providence, both of the Islands of the
Commonwealth of The Bahamas, Attorneys by Deed
of Power of Attorney for the Administrator has made
application to the Supreme Court of The Bahamas, for
letters of administration of the Real and Personal Estate
of MARIA RENATE KELLERMANN late of Im
Ziegelwinkel 16,96317 Kronach in the federal Republic
of Germany, deceased.
Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.
Signed
Desiree Robinson
(for) Registrar



COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00314
Whereas MICHELLE NEVILLE-CLARKE of Marlin
Drive in the Western District of the Island of New
Providence, one of the Islands of the Commonwealth
of The Bahamas has made application to the Supreme
Court of The Bahamas, for letters of administration of
the Real and Personal Estate of FREDY GOZALI late
of Jalan Matraman Raya Number 60, Rukun Tetangga
012/002, Kebon Manggis Village, East Jakarata,
Republic of Indonesia, deceased.
Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.
Signed
Nicoya Neilly
(for) Registrar



COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00315
Whereas WILLIAM NATHANIEL TAYLOR of Gleniston
Gardens in the Island of New Providence, one of the
Islands of the Commonwealth of The Bahamas has


made application to the Supreme Court of The
Bahamas, for letters of administration with the will
annexed of the Real and Personal Estate of CLIFTON
HARCOURT TAYLOR late of Gleniston Gardens in the
Eastern District of the Island of New Providence, one
of the Islands of the Commonwealth of The Bahamas,
deceased.
Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.
Signed
Nicoya Neilly
(for) Registrar



COMMONWEALTH OF THE-BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00317
Whereas, SUSAN J. JOSEPH nee ROLLE of Claridge
Road, Southern District, New Providence, one of the
Islands of the Commonwealth of The Bahamas has
made application to the Supreme Court of The
Bahamas, for letters of administration with the will
annexed de bonis non of the Real and Personal Estate
of ADDINGTON TAYLOR late of The Southern District,
New Providence, one of the Islands of the
Commonwealth of The Bahamas, deceased.
Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.
Signed
Desiree Robinson
(for) Registrar




COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00318
Whereas, SHANNELLE SMITH of the Western District,
New Providence, one of the Islands of the
Commonwealth of The Bahamas, Attorney by Deed of
Power of Attorney for the Administrators has made
application to the Supreme Court of The Bahamas, for
letters of administration with the will annexed of the
Real and Personal Estate of JULES FRANCOIS
JOSEPH JUAN PHILLIPPE MAURICE FERNANDO
de AMODIO a.k.a. JOHN de AMODIO a.k.a. THE
MARQUIS de AMODIO late of 3 rue de L'Eveche,
Switzerland, deceased.
Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.
Signed
Desiree Robinson
(for) Registrar


COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00319
Whereas, SHERYL VINCESS HILTON of Gerald Bartlet
Subdivision, Western District, New Providence, one of
the Islands of the Commonwealth of The Bahamas has
made application to the Supreme Court of The
Bahamas, for letters of administration of the Real and
Personal Estate of SEAN MARIO HILTON late of Gerald
Bartlet Subdivision, Western District, New Providence,
one of the Islands of the Commonwealth of The
Bahamas, deceased.
Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.
Signed
Desiree Robinson
(for) Registrar




COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19, 2007
No. 2007/PRO/npr/00320

Whereas, VIRGINIA FERGUSON of Pinewood Gardens,
Southern District, New Providence, one of the Islands
of the Commonwealth of The Bahamas has made
application to the Supreme Court of The Bahamas, for
letters of administration of the Real and Personal Estate
of AMOS FERGUSON late of Francis Street, Fox Hill,
Eastern District, New Providence, one of the Islands
of the Commonwealth of The Bahamas, deceased.
Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.
Signed
Desiree Robinson
(for) Registrar


THE TRIBUNE-


PAGE 14B, MONDAY, JULY 16, 2007






THE TRIBUNE


MONDAY, JULY 16, 2007, PAGE 15B


GN-531














SUF







Probate [
2007/PR(

IN THE E
Van.Bure
one of tl
America,


DREME COURT


Division
D/npr/00321


SUPREME COURT
PROBATE REGISTRY
RO. BOX N-167
Nassau, The Bahamas
July 19, 2007


STATE of WILLIAM DENNIS, late of
n County in the State of Tennessee,
he States of the United States of
deceased.


NOTICE is hereby given that after the expiration
of fourteen days from the date hereof,
application will be made to the Supreme Court
of The Bahamas in the Probate Division by
NICHOLAS JOHN ZERVOS of the City of
Nassau in the Island of New Providence, one
of the Islands of the Commonwealth of The
Bahamas, Attorney-At-Law, the Authorized
Attorney in The Bahamas for obtaining the
Resealed Letters Testamentary in the above
estate granted to RUTH DENNIS, the Executrix
of the Estate, by the State of Tennessee,
County of Van Buren, on the 8th day of June
2005.


Signed
Nicoya Neilly
(for) REGISTRAR


Kl_ 13


COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
July 19; 2007
> rf n / ' r l .,.N/ /fr t r>n ft " .


Whereas RUBY ELAINE BYER of the Southernm
District of the Island of New Providence, one
of the Islands of the Commohwealth of The
Bahamas has made application to the Supreme
Court of The Bahamas, for letters of
administration of the Real and Personal Estate
of DORA MATILDA HENRY late of Ferguson
Subdivision in the Southern District of the
Island of New Providence, one of the Islands
of the Commonwealth of The Bahamas,
deceased.

Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date hereof.

Sign
Nicoya Neilly
(for) Registrar


Home Centre eyes ruling cost benefits


FROM page 1


favour.
Mr Simpson said the Home
Centre had been pre-paying
customs duties on items that
prior to Justice Isaacs' ruling
were regarded as' consumable
stores' and could not be treat-
ed as bonded, such as house-
wares, vacuum cleaners and
certain-size televisions.
Commenting on the ruling,
which prevents Customs levy-
ing a blanket $738,000 demand
for upfront duties on the
Home Centre in return for giv-
ing its new superstore permis-
sion to open, Mr Simpson said
"this would have effectively
finished us off" as a business
had it been allowed to stand.
This was because it would
have made all products stocked
by the Home Centre duty-paid,
even though 70 per cent of its
customer base were GBPA
licensees. The company can
sell, products bonded (duty-
free) to these licensees if the
goods are used in their busi-
nesses, and Mr Simpson


implied that the Home Centre
would have lost this advantage
if the ruling went against it.
He said: "I might add that
had had this happened [the rul-
ing gone against it], over 100
Bahamians would have been
out of work and over 700
Bahamian shareholders in our
company would have seen
their investment wiped out."
Mr Simpson said that in
designing the new superstore,
the Home Centre wanted to
compete with the likes of
Home Deport and Lowe's in
the US, offering.similar prices
that would allow Grand
Bahama residents "to enjoy a
great shopping experience and
spend their dollars here at
home".
Bringing in bonded invento-
ry and displaying it on store
shelves allows the Home Cen-
tre to match its US competi-
tprs on both price and shop-
ping experience.
"We have an excellent point
of sale programme that keeps
track on all items that have
been brought in bonded and
sold duty-paid, and in the five


years that I have held the posi-
tion of chief executive of this
company we have faithfully
paid customs duties each and
every month," Mr Simpson
said, saying that the Home
Centre had been complement-
ed on this by Customs.
He described the court rul-
ing as a "landmark" that" lev-
els the playing field" for busi-
nesses in Freeport.
Mr Simpson said: "This rul-
ing will allow us in Freeport,
which is already a duty-free
zone, to compete more effec-
tively with US businesses that
are selling to our licensees, and
in turn, rather than all the
funds going to the US, we all
would keep a majority of the
funds here in our own econo-
my.
"We believe in open trade
and that competition is good
for Freeport, as it reduces the
cost of goods to our contrac-
tors and related businesses,
which reduces the cost of con-
struction and all consumers
gain.
"In our opinion, prices have
been kept high for far too long,


and this is not helping the com-
munity during these tough qco-
nomic times."
Mr Simpson said he believed
it was "not practical" for
GBPA licensees to attempt to
recoup pre-paid duties from
Customs in light of the Home
Centre ruling. He added:
"Most people would say
'hooray', and thank the courts
in that they didn't have to go
through all the time, costs and
litigation, and then move on
to take advantage of cost sav-
ings for itself and its cus-
tomers."














year


FROM page 1

up by five per cent," she -said.
This is particularly true in
New Providence, where the
lowest price is around $60,000
for a lot.
Ms Rahming acknowledged
that real estate prices are
climbing for a variety of rea-
sons, including scarcity of land
supply, consumer demand and
the cost involved in putting in
infrastructure and utilities for
subdivision developments.
For persons interested in
investing in property, Ms Rah-
ming suggested purchasing in
Exuma or Grand Bahama,
both areas she identified as
'hot spots'. Nassau is so satu-
rated and small that real estate
prices are going to remain
high, Ms Rahming said.
"If you look at Freeport, a
property 100 by 100 sells for
about $30-$40,000, whereas
that same piece of property in
Nassau sells for around
'$140,0100," she added* -
L Similarly, Ms Rahming said
Sea parcel afiland dn -Exuma,!
sized 80 feet by 120 feet, would
on average cost between
$17,000-$20,000.
Even so, she said land prices
will only increase, as that same
sized property on Exuma cost
about $5,000 five years ago.
"So it has more than tripled,"
Ms Rahming said.
"My advice, particularly for
young people, is if you see
something that you are inter-
ested in, then go and get it
because the price will only go
up if you wait."
Ms Rahming said it was
encouraging that in her com-
pany, they are seeing many
young couples aged in their
20s, and single women in their
30s, coming forward to make
land and real estate purchases.
However, she pointed out
that she does not see as many
single young men looking for
property or a home.
"Most of the time, they are
coming in with a strong female
partner," Ms Rahming said.


SUPREME COURT
PROBATE REGISTRY
RO. BOX N-167
Nassau, The Bahamas
July 19, 2007
Probate Division
2007/PRO/npr/00325

IN THE ESTATE of CATRIONA MACLAINE
GOURLAY, late of No. 54 Bishop's Court,
Bishop's Road, Trumpington in the District of
Cambridge in the County of Cambridgeshire
in the United Kingdom, deceased.

NOTICE is hereby given that after the expiration
of fourteen days from the date hereof,
application will be made to the Supreme Court
of The Bahamas in the Probate Division by
KEVIN M. RUSSELL of the City of Freeport
in the Island of Grand Bahama, one of the
Islands of the Commonwealth of The
Bahamas, Attorney-At-Law, the Authorized'
Attorney in The Bahamas for obtaining the
Resealed Letters of Administration in the above
estate granted to JAMES RICHARD TEE, the
Personal Representative of the Estate, by the
High Court of Justice, the District Probate
Registry at Ipswich, on the 25th day of April
2006.

Signed
Nicoya Neilly
(for) REGISTRAR


rin nf on As O
Pricing Information As Of:


11.00
7.49
0.70
1.48
1.20
9.00
1.80
10.60
4.22
2.20
5.54
11.50
12.43
11.15
0.54
7.10
8.52
10.00


Abaco Markets
Bahamas Property Fund
Bank of Bahamas
Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Collna Holdings
Commonwealth Bank
Consolidated.Water BDRs
Doctor's Hospital
Famguard
FInco
FirstCaribbean
Focol
Freeport Concrete
ICD Utilities
J. S. Johnson
Premier Real Estate


II~rram


CsF A L..


11.60 11.80
9.40 9.40
0.85 0.85
3.65 3.65
1.48 1.48
10.60 10.60
2.35 2.35
14.77 15.00
6.19 8.32
2.30 2.30
6.20 6.20
12.70 12.70
14.63 14.63
20.01 20.00
0.64 0.64
7.256 7.25
9.90 9.90
10.00 10.00


0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.23
0.13
0.00
0.00
0.00
0.00
-0.01
0.00
0.00
0.00"
0.00


1.527
0.733
-0.013
0.279
0.064
700 0.949
0.281
9,309. 1.152
0.112
0.281
0.694
0.787
0.977
1.,000 1.657
0.415
0.411
0.946
1.187


0.000
0.400
0.260
0.020
0.060
0.020
0.240
0.080
0.680
0.060
0.000
0.240
0.570
0.470
0.520
0.000
0.200
0.580
0.800


N/M
7.6
12.8
N/M
13.1
23.1
11.2
8.4
13.0
55.4
8.2
8.9
16.1
14.6
12.1
1.5
17.6
10.5
8.6


0.00%
3.45%
2.77%
2.35%
1.64%
1.35%
2.26%
3.40%
4.53%
0.81%
0.00%
3.87%
4.49%
3.21%
2.60%
0.00%
2.76%
5.86%
8.00%


52wk-HI 52wk-Low Symbol -- Bid $ Ask $ Last Price Weekly Vol. EPS $ Div $I P/E Yield
14.60 12.25 Bahamas Supermarkets 14.60 15.60 16.00 1.234 1.185 12.6 8.12%
10.14 10.00 Caribbean Crossings (Pref) 6.00 6.25 10.00 0.000 0.640 NM 7.85%
0.54 0.20 RND Holdings 0.35 0.40 0.20 0.034 0.000 11.8 0.00%
3.00 28.00 ABDAB 41.00 43.00 41.00 2.220 0.000 19.4 0.00%
14.60 14.00 Bahamas Supermarkets 14.60 15.50 14.00 1.234 1.125 12.6 7.71%
0.60 0.35 RND Holdings 0.45 0.55 0.45 0.021 0.000 26.2 0.00%
52wk-HI 52wk-Low Fund Name NA V YTD% Last 12 Months DIv, Yield %
3.2920 2.9218 Fidelity Bahamas G & I Fund 3.2920-
.7399 2.4415 Coliha MSI Preferred Fund 2.739935"*
1.2576 1.1820 Collna Bond Fund 1.257576""*
11.6049 11.0691 Fidelity Prime Income Fund 11.6049*"
BISX ALL SHARE INDEX 190Dec02 1,000.00 MARKET TERMS YIELD last 12 month dividends divided by closing price NAV KEY
52wk-HI HIghest osing price In last 52 wsee Bid $ Buying pdoe of Colina and Fidellty
52wk-Low Lowest closing price in last 52 weeks Ask Selling priceof Cofrm nd delty *July2007
Previous Close -Previous day's weighted price for daily volume Last Prioe Last traded ovr4wle-ountlr price
Todays Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior wk -30 June 2007
Change Change In closing price from day to day EPS S A company's reported earnings per share for the laet 12 mnhs
Daily Vol. Number of total shares traded today NAV Net Asset Value 31 May 2007
DIV S Divldends per share paid in the last 12 months N/M Not Meaningful
P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January 1.1994 = 100 ** 30 June 2007
.. . . : . ........ 30 June 2007


Credit Suisse (Bahamas) Limited
is presently considering applications for a
Senior Accountant Derivatives & Structured Products

Credit Suisse is one of the'world's premier private banks. It is setting new standards that go beyond
traditional banking services. Our dedicated and highly qualified staff provides our clientele with
comprehensive solutions in individual investment counseling and professional portfolio management. Our
total commitment is always to our clients and we focus without compromise on their financial well-being and
their personal values.

The position is open to candidates with the following minimum requirements:

Main tasks: : :
-Preparing all financial statements for derivatives & structured products business of the bank
Provide expertise in defining accounting treatment for derivative products (Options, Swaps, etc.)
Assisting in the preparing of reports for Senior management
Assisting in ensuring that all Balance Sheet accounts are substantiated
Involvement in various.investment banking and Group accounting issues and projects
Recommend new products for implementation after receiving sign-offs of above specialized units
Ensure that new products are implemented in a controlled manner and execute implementation review
with IT, Operations and Accounting
Identify potential risks and suggest improvements regarding controls, systems in use and business
management ..- .
Work with seiot business management to prioritize initiatives
Support implementationrof standard software supplements

Requirements:
A minimum of five '(5) years experience with an offshore bank, trust company or accounting firm
Technical product knowledge of derivatives / structured products MANDATORY: Musrderttonstrate -
-sufficient hands-on woyt-e6perience in accounting for derivative products ., .-
- ..Pioduut Pt)tel or rFiqial Control background required ." 1y1nfwos 96"1 ; ie 9
CPA, CA or equivalent .
University degree
Knowledge of US GAAP would be an asset
Good IT skills; familiar with Accounting and IT infrastructure basics

Personal Qualities:
*A commitment to service excellence
Ability to work under pressure and with minimum supervision
Good organizational and interpersonal skills
SAbility to work independently : .
Effective communicatorand hands-on and proactive approach
Strong analytical and organisational skills and good sense of control

Benefits provided include:
Competitive salary and benefits

APPLICATIONS MUST BE IN WRITING. Persons not meeting the minimum requirements need not apply.

Applications should be submitted to:
Human Resources Department
P.O. Box N-4928
.Nassau, Bahamas .

DEADLINE FOR RECEIPT OF APPLICATIONS IS JULY 20,2007



CREDIT SUISSE


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No. 2007/PRO/ r/00324




THE TRIBUNE


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"FA vouR HnYtEt
We're absolutely overjoyed to accept the Canadian Travel Agents' Choice Awards for
"Favourite Hotel Chain".
We did it in style ...with more points than 2nd & 3rd place combined.
And got a bonus! ...voted "Favourite All inclusive"
for the 8th year in a row.
It's a wonderful moment for the entire dedicated Sandals team, and our Beaches Resort
sister brand, who proudly shares this award with us.
All the Bahamas can join us in celebrating because as always a Sandals victory, is one
for the Bahamas.



RESORTS


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Agents' Choice Awards Winner 200


PAGE 16B, MONDAY, JULY 16, 2007


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