The Tribune.
Full Citation
Permanent Link: http://ufdc.ufl.edu/UF00084249/02943
 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: 7/17/2007
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
System ID: UF00084249:02943

Full Text


CIEESEf lovl' It


4^4c' AND HOT





Volume: 103 No.195

TUESDAY, JULY 17, 2007


Miise 'We

Bahaian wanedto atc


Pa A Gme



Roger Gomez is

ordered off the

Daniel Smith inquest

A SECOND magistrate has
now been ordered off the Daniel
Smith inquest as a local judge
has expressed concerns about
judicial officers giving press
interviews concerning matters on
which they are presiding.
Supreme Court Justice John
Lyons has ordered that Chief
Magistrate Roger Gomez be
removed from presiding over
the inquest into the death of 20-
year-old Daniel Smith, son of the
late Anna Nicole Smith. Daniel
Smith died on September 10,
2006 while visiting his mother
Anna Nicole Smith, three days.
after she gave birth to her daugh-
ter, Dannielynn, at Doctor's
Forensic pathologist Dr. Cyril
Wecht, who was hired by the law
firm of Callenders and Co to per-
form an independent autopsy on
the body of Daniel Smith, said
that the 20-year-old had died
from a lethal combination of
Zoloft, Lexapro and Methadone.
The inquest into the death of
Daniel Smith came to a stand-
still in early April when lawyers
for Howard K. Stern Smith's
former companion filed a
motion in the Supreme Court
questioning the lack of provi-
sions in the Coroner's Act to
provide for an impartial jury.
This came in light of the intense
international media attention
that the case has received.
Back in April, Justice Lyons
expressed concern after stating
that he had seen only a trailer
of an interview which showed
Chief Magistrate Gomez speak-
ing on matters pertaining to the
Justice Lyons noted yesterday
that he was not seeking to

embarrass anyone, but simply
did not approve of the practice of
a judicial officer giving interviews
to the press about matters on
which they are presiding. Three
days after Daniel Smith's death,
Coroner Linda Virgill held a
press conference announcing the
date for the commencement of
an inquest.
This resulted in numerous
complaints from Bahamianrs',
who reportedly in some 'cases,
had been waiting years for an
inquest to open into the death
of a family member. Mrs Virgill
was subsequently removed from
the case and the Coroner's Court
was ultimately dissolved. Chief
Magistrate Gomez then began
presiding over the inquest.
Attorney Wayne Munroe, who
is representing Howard K. Stern,
again raised concern yesterday
over jury impartiality. Stern was
also present in court yesterday.
Mr Munroe had proposed that
a questionnaire be given to
potential jurors before they were
empanelled to help in the selec-
tion process.
Neil Brathwaite of the Attor-
ney General's office, however.
objected to Mr Munroe's pro-
posal stating that questionnaires
were inappropriate and that the
issue was not whether the jur)
had heard about the matter, but
whether they would be able to
follow directions and be impar-
Justice Lyons yesterday said
that he would suggest that the
jury be selected from as wide a
representative base as possible.
As regards the questionnaire's"
'suggestion, he noted that the
main issue is that there must be a
fair hearing and that responsi-
bility lies ultimately with the
Coroner presiding over the case.

POLICE are ques-
tioning four men in
connection with the
murder of 16-year-old
Javano Willi~ms on
Sunday night.,
Javano, a Yellow
Elder resident, became
'the country's 45 murder
victim for the year
when he was stabbed to
death outside the Esso
Gas Statioh'on Blue
Hill and Coconut Road.
According to Chief
Superintendent Glen
Miller, head of CDU,
Javano received a fatal
stab wound to the left
upper chest and died on
the scene at 10.45 that
night, after being
involved in some type
of altercation at the ser-
vice station.
Assistant Superinten-
dent Clayton Fernan-
der, head of the homi-
SEE page nine

Claim that
1 .-KnTTW** W m


iawyeei iin | p Dorsett is PLP inquest may
chairmanship be held into
front runner l jet-ski death

Tribune Staff Reporter
A PLP insider claims that
lawyer Ken Dorsett is the front-
runner for the party chairman-
ship in the upcoming Novem-
ber convention.
The source, who spoke to
The Tribune on condition of
anonymity, claimed that a
movement is emerging to draw
Mr Dorsett into the race.
"Amongst young people in
the party now, he is being
pushed to pursue the" chair-
manship," the source said.
Mr Dorsett, vice-chairman of
the party, is the current man-
SEE page nine

Why settle for an ordinary mortgage?
Switch today
& get money back!

Tribune Staff Reporter
A CORONER'S inquest may
be held into the death of seven-
year-old Eric Thomas of Ohio,
who died in a jet-ski accident
on Sunday morning, police said
This comes at a time when
another family, whose child was
also killed in a boating accident
on a Paradise Island beach, pre-
pares to have their case heard
before the Supreme Court in
the Bahamas.
Both cases could once again
highlight in the international
forum, the question of safety as
SEE page nine


*J-, Fidelity MoneyBack Mortgage
Call or visit Fidelity today.

SM or .A .' :.. r -
,B^^ (Nasiau: t 356.7764 Freeport t 352.6676

Small plane

stolen from
airport in

South Andros
THE owner of a small plane,
stolen from a South Andros air-
port yesterday, told The Tri-
bune that he fears his aircraft
will be used for the smuggling of
illegal substances.
Norward Rahming, owner of
Rahming Enterprises, said that
his son,'one of two who are
pilots, went to the Congo Town
airport yesterday morning
intending to fly to New Provi-
dence on business, but could
not find the plane.
Mr Rahming said that the
twin engine, 1969 Aztec Piper,
painted white and blue with red
stripes has the marking of Rah-
ming Enterprises on the tail.
He said that this was the first
time something like this had
happened in South Andros.
"I don't know who could
have taken it, the only thing I
SEE page nine


police unit

is being

Tribune Staff Reporter
THE police force confirmed
to The Tribune last night that
it is restructuring the success-
ful tourism police unit, which
from now will include only ful-
ly trained officers, and no longer
local constables.
Some members of the unit
expressed concern over the
restructuring, claiming that
many local constables who
have contributed to the success
of the unit in the past two years
- are being left in the dust.
However, both acting com-
missioner of police Reginald
Ferguson and assistant com-
missioner in-charge of New
Providence Marvin Dames said
yesterday that this move is
aimed at improving the unit,
which is mandated to keep the
downtown area crime-free.
Asst Commissioner Dames
explained yesterday that the
local constables will receive
training and that those who
qualify will be able to enter the
SEE page nine

. .-. ,. .. .- . '. r' "
;- _.. ,:... ..; -,- ; . s, + .. ; , ."; .. '+ i," ; --"""i' <'++ ; O ;.-' ..,. ..... ,<,,.... :.:_. .': ,--: ,..-@ -OW.L :4.. o,....".

Sw'~itch yo ur Mortgag[ e to the [newUU a?. ~r'
Fidlit Co-ybck- Mortgage-and
m ak e a b ndle- an save- a- undle!-

ott case

PAGE 2, TUESDAY, JULY 17, 2007



Mrs Ellen Knowles,
owner of Ellen's Inn,
Deadman's Cay
dies at age of 96
LONG Island is mourn-
ing the passing of one of its
first female entrepreneurs.
Dead at the age of 96 is
Mrs Ellen Rebecca New-
man-Knowles, owner of
Ellen's Inn in Deadman's
Cay, Long Island.
Mrs Knowles passed away
at her home in Grays, Long
Island, on Saturday, July
14, at around 8am, after a
short illness.
Described as a strong,
determined individual with
a sense of purpose, Mrs
Knowles, or "Mama Ellen",
as she was affectionately
called, was considered a
pioneer in the Family
Island hotel industry.
In the early 1970's Mrs
Knowles established Ellen's
Inn, formerly her family
home, to respond to a need
for hotel accommodations
on Long Island.
Since then, the facility
has grown into a nine-room
bed and breakfast, with all
the modern amenities. Its
typical clientele are dis-
cerning travellers who val-
ues peace, tranquility and
superior customer service.
Ellen's Inn is situated in
the heart of Deadman's
Cay, just one mile from the
Apart from her business
interests, Mrs Knowles was
an active member in St
John's Anglican Church,
Deadman's Cay.
In recognition of her con-
tribution to the develop-
ment of Long Island, the
government and the Long
Island community awarded
her the Pink Pearl Award
and a plaque.
The second daughter and
sixth child of William and
Rose Newman, Mrs
Knowles was born in Dead-
man's Cay on the June
28,1911. She received her
education at Buckley's Pub-
lic School, and upon com-
pletion worked at as a
school monitor and grant-
in-aid teacher at Buckley's
and Shearse's, Lower Dead-
man's Cay.
She also farmed'to pro-
vide for her family.
Mrs Knowles is survived
by six daughters: Ena
Major, former owner of
Harbour Grocery in
Clarence Town and current
owner of Ena Lee Major's
Creation; Colleen Adder-
ley, Justice .of the Peace
and retired principal; Olivia
Turnquest, local govern-
ment representative in
Long Island and retired
principal; Thelma Dean,
retired principal; Elma
Garraway, permanent sec-
retary in the Ministry of
Education; Mrs Harriett
Pratt, retired school super-
intendent and current con-
sultant in the Ministry of
Funeral service for Ellen
Rebecca Knowles will be
held on Saturday, July 21,
at St John's Anglican
Church, Deadman's Cay, at
11am. Interment will follow
in the church's cemetery.

Minister gives warnings and

advisories for crawfish season

MINISTER for Marine
Resources and Agriculture
Larry Cartwright

Tribune Staff Reporter
ANNOUNCING the open-
ing of the crawfish season on
August 1st, Minister for
Marine Resources and Agri'-
culture Larry Cartwright sent
out a list of warnings and
advisories to Bahamian fish-
ermen to help them secure
their health and livelihood
within the law throughout the
Noting that recorded land-
ings of crawfish "by far the
most valuable commercial
species in the waters of The
Bahamas" --in the past four
years have been "showing
slight declines", Mr
Cartwright explained yester-

day that there are issues to
which attention must be paid
if stocks are to be maintained
to the extent that they "con-
tinue to provide employment,
income and food for Bahami-
ans well into the future."
These include the harvest-
ing of egg-bearing or under-
sized lobsters, the illegal use
of air compressors and nox-
ious chemicals to assist in
improving catches, conflict
between different fishing
groups, poaching and the
"proper handling" of crawfish
after they have been brought
Mr Cartwright gave the
press numerous reasons why it
is in a fisherman's financial
best interest to act legally.

Noting that under-sized
crawfish those under five
and a half inches have had
little opportunity to repro-
duce, Mr Cartwright said that
the "high monetary value of
crawfish tails (means that) sig-
nificant gains can be made by
waiting the extra days to allow
the crawfish with a five inch
tail to grow the extra half inch
to reach full size."
The minister said his min-
istry will also be "closely mon-
itoring" persons buying craw-
fish to ensure that they only
purchase the legal sized prod-
With respect to the "illegal
and unsafe use of air com-
pressors", Mr Cartwright said
that in addition to putting
excessive pressure on
resources, using such appara-
tus outside of the allowed
depths of between 30 and 60
feet can have "serious nega-
tive health impacts" that have
been known to require
"expensive medical treat-
ment" or even cause death.
Furthermore, the use of liq-
uids such as "detergents, gaso-
line or other toxic chemicals"
to aid in the capture of craw-
fish is not only against the law,
but "presents a real threat to
the marine environment, an
environment that is essential
to the production of the
resources being harvested,"
said Mr Cartwright.
He added, however, that
fishermen may use air com-
pressors within certain depth,
and carry limited quantities'of
liquid detergents and bleach
on their boats if they have the
appropriate 'permits.
Some fishermen will have
to make greater efforts this
year to make sure their per-
ishable goods are properly
handled, as the Department
of Marine Resources will be
inspecting sanitary conditions
aboard vessels during the sea-
son. This is part of a newly
initiated progra'mme'' to
encourage improvements, he
"Bahamians must make the
most of the crawfish they har-
vest. If we are able to improve
the quality of the crawfish
being landed, this would lead
to a higher quality of prod-
ucts exported, and this could
lead to greater economic
returns to all involved," he
Mr Cartwright also encour-
aged fishermen to help the
Department of Marine
Resources by providing infor-
mation to that department,
the Defence Force, or the
police, should they encounter
any of a number of "unwanted
guests", such as foreign ves-
sels fishing in Bahamian
waters, the invasive Pacific
Lion fish, or persons from oth-
er fishing groups vandalising
traps or other fishing equip-
Fishermen were advised to
spear the poisonous Lion fish
and "leave them on the bot-
tom" if sighted. The fish has
only recently been detected in
Bahamian waters, and can be
identified by its long spines,
colourful appearance and slow
movement. It should not be
handled, said Mr Cartwright.
The season will be open for
eight months, ending on
March 31, 2008.
Last year, records show that
5.2 million pounds of tails
were landed, with a value of
$92 million.

PRIME Minister Hubert Ingraham on
Friday bid farewell with "warm wishes
and best regards" to His Excellency Kallash
Lai Agrawal, Ambassador of India, on Fri-
The meeting took place on July 13, at
the office of the prime minister on Cable
Ambassador Agrawal's farewell call on
Mr Ingraham marked the end of his week-
long visit to the Bahamas.
"We have a long relationship with India,
we have followed with great interest your
development, most especially your devel-
opment in education and technology," Mr
Ingraham said. "Indians have provided lots
of needed skills to us, whether it was for the
establishment of the National Insurance
Board, or in the accountancy and finance

Mr Ingraham said he is looking forward
to meeting Indian Prime Minister Dr Man-
mohan Singh, at the Commonwealth Heads
of Government Meeting (CHOGM) to be
held November 23 to 25, in Kampala,
The prime minister also confirmed that
the Bahamas will be sending a delegation
to the 53rd Commonwealth Parliamentary
Conference in New Delhi, India, Septem-
ber 21 to 30 this year. .
Ambassador Agrawal said India is
looking forward to strengthening relations
with the Bahamas in several diverse
He added that India would also welcome
a visit from Mr Ingraham.
The Indian ambassador presented let-
ters to Prime Minister Ingraham, as well as
gifts from his government.

o In brief

Man accused of
detaining and
attempting to
rape teen pleads
not guilty
A MAN, 23, of Flamingo
Gardens was arraigned in
Magistrate's Court yesterday,
accused of forcibly detaining
and attempting to rape a 16-
year-old girl
William Fernander, aka
"Bones", was arraigned before
Magistrate Susan Sylvester at
Court 11 Nassau Street yes-
According to court dockets,
on Saturday July 8 Fernander
by force took away and
detained the girl. It is further
alleged that on that same day,
he attempted to have sexual
intercourse with her.
Fernander pleaded not
guilty to the charges and was
ranted bail in the sum of
7,000. The matter was
adjourned to October 26.

Chavez says
church losing
support over
priests in politics
criticized Venezuela's Roman
Catholic leaders on Monday
for condemning his plans to
rewrite the constitution, saying
the church is losing support in
this politically divided nation
because priests are meddling
in politics, according to Asso-
ciated Press.
The Venezuelan Bishops'
Conference complains that pro-
posals for the forthcoming con-
stitutional reform are being
drafted without public involve-
ment by a committee appoint-
ed by Chavez.
"They act as if they were a
political party," Chavez said
during a televised speech.
"Everyday, there are fewer
Catholics in the world, and in
Venezuela, and that's worri-
some. The attitudes among
Venezuela's Catholic hierarchy
Sis one of the causes.'-
, Chayez a close ally of
Cuban leader Fidel Castro -
lambasted the clergy of "lying"
about his plans for the reform,
warning Venezuela's Catholic
Church leaders they were "sin-
ning" by spreading falsehoods.
Since taking office in 1999,
Chavez has repeatedly clashed
with church leaders. But ten-
sions between the bishops' con-
ference and Chavez's adminis-
tration have grown particularly
tense in recent months.
Critics accuse Chavez of
becoming increasingly author-
itarian as he steers Venezuela
toward socialism. Many fear
the former paratroop com-
mander will use the pending
constitutional reform to lay a
legal framework allowing him
to override democratic institu-
tions such as the National
In an interview published
last week by the local El Uni-
versal newspaper, Cardinal
Jorge Urosa Savino, the Vati-
can's top representative in
Venezuela, reiterated the
church's reform-related con-
"We are in an absurd situa-
tion in which one person tries
to become the only, lifelong
authority," Urosa Savino was
quoted as saying.

KALLASH Lai Agrawal, Ambassador of India, paid a farewell call on Prime Minister
Ingraham on Friday.

wesvty.es On The Island"



Monday -Saturday.-lOnam 5:34pm


jDonafdI's Fjirnitureto^ s

And Appliance Centr .


..r ~sa, ..s: .-r . auaaa~.assapli~Reaarr;8*nas


In brief

Four charged
with firearm
and ammunition
FREEPORT Four persons,
including two men and two
women, appeared in Freeport
Magistrate's Court on firearm
and ammunition possession
charges in connection with an
alleged incident in South Bimi-
Denver Martin, 34, of South
Bimini and a resident of Maxim
Court in Freeport; Allison Sey-
mour, 37; Laverne Goodman,
35, of South Bimini; and Derrel
Kelly, 45 of Bailey Town, North
Bimini, appeared before Act-
ing Deputy Chief Magistrate
Helen Jones yesterday.
They were all charged with
being found in possession of an
unlicensed firearm and ammu-
nition at South Bimini on July
Following a submission by
attorney Jerone Roberts, the'
magistrate agreed to transfer
the case to the Magistrate's
Court in Bimini, where the four
defendants will be arraigned
before administrator Joseph
Ferguson at 10am today.

Freeport man to
be charged
following, shrimp
farm theft
A 27-year-old Freeport man
is expected to be arraigned
before the courts on Wednes-
day in connection with theft of
nearly $80,000 worth of equip-
ment from the Shrimp Farm in
Grand Bahama.
According to reports, some
$79,500 worth of equipment was
stolen from the farm, located at
Queens Cove in the North Air-
port Zone.
The suspect has been granted
police bail in the amount of
$10,000 with two sureties.

Woman faces
A 33-YEAR-OLD Freeport
woman was charged with
ammunition possession in
Freeport Magistrate's Court on
Fredricka Smith, a resident
.of Golf Lane, South Bahamia,
pleaded not guilty fb possession
of ammunition two .9mm
Ruger bullets without being
the holder of a valid firearm
Smith's case was adjourned
. to November 5. She was grant-
ed $3,000 bail with one surety.

Venezuelan TV
station begins
broadcasting on

AN opposition-aligned TV
station forced off the air by.
President Hugo Chavez began
broadcasting on.cable and satel-
lite television on Monday,
according to Associated Press.
Employees and actors sang
Venezuela's national anthem as
Radio Caracas Television, or
RCTV, made its first broadcasts
since May 27, when Chavez
granted the network's open air-
waves signal to a state-con-
trolled channel.
"We were prevented from
being together with you, for
showing that we are independent
and free," RCTV President Ela-
dio Lares told viewers said during
a brief address. "We will always
be standing, never on our knees."
RCTV's executives argue
Chavez's decision not to renew
RCTV's broadcasting licence
was illegal. The station, which
has remained highly critical of
the president while other pri-
vately owned TV channels have
toned down their criticism of
the government, is waging a
legal battle to regain its license
so it can once again reach a
nationwide audience.
Cable and satellite television
cost roughly US$20 a month -

more than many Venezuelan
families can afford and reach
only 30 percent of households.
Government opponents
argue Chavez forced RCTV off
the airwaves to muzzle his most
outspoken critics and they have
staged numerous street demon-
strations to protest the measure.

Tpopica Exltemintp

Environmental Health workers

planning action over conditions

Tribune Staff Reporter

MORE revolt is brewing in
the Department of Environ-
mental Health, as angry work-
ers at the Harrold Road Dump
are planning a walk-out and
demonstration over "unfair
and unsanitary" working con-
ditions, The Tribune has
"There is no toilet paper,
half of the toilets don't work
and there is no drinking
water," a source said.
The frustrated employee
claims that management at the
Environmental Health Depart-
ment has done nothing to
address their concerns, despite
numerous complaints.
The Tribune was told that
these conditions, which have
the nearly 50 workers extreme-
ly frustrated, have persisted for

nearly three weeks.
"We want to know how
long this will continue," he
said. "And we thought, with
the government changing, it
would be a little better. But,
the same people .(managerial
staff) are in place, and it looks
like they don't want to stop."
"We are planning now to
have a demonstration," the
source added.
These problems at the Har-
rold Road Solid Waste Dis-
posal site are the second public
complaints coming from the
department in less than a week.
Last Thursday, workers
from the grounds and beautifi-
cation section in the depart-
ment went public with the
unsanitary and hazardous con-
ditions they are faced with on a
daily basis.
They allege that workers
are required to clean up con-

taminated items such as, used
condoms discarded sanitary
napkins and human faeces,
without proper protective
gear, only being equipped
with flimsy latex gloves that
often tear.
The workers to whom The
Tribune spoke on Thursday
also complained about the
state of the restroom facilities
for workers. And, they said
that they have been threatened
with docked wages if they con-
tinue to complain.
When contacted by these
latest claims by Environmental
Health workers, Bahamas Pub-
lic Service Union President
John Pinder said he is looking
into these latest complaints,
lut currently he is awaiting an
,update from a shop steward
before he can make further
comments on the matter.
The Tribune was unable to

GB Power shareholder makes

$1lm settlement over records

Grand Bahama Power com-
pany has agreed to pay $11
million in penalties in the
United States to defer prose-
cution for falsifying trade
According to 360 Business
News, Assistant Attorney
General Alice Fisher of the
Criminal Division and US
Attorney Scott Schools of the
Northern District of Califor-
nia announced the settlement
after Mirant Energy Trading, a
company owned by Mirant
Corporation and successor to-
Mirant Americas Energy Mar-
keting (MAEM), accepted and
acknowledged liability.
Mirant is a shareholder in
the Curaqao Utilities Compa-
ny, Grand Bahama Power,
Jamaica Public Service Com-
pany and PowerGen in
Trinidad and Tobago.
The FBI has alleged that
between February and
December 2000, traders at
. MAEM's natural gas trading
desks knowingly submitted

inaccurate trade data to indus-
try publications, including fic-
titious trades, incorrect vol-
umes and/or prices, and.,
incomplete trade reports for
the purpose of benefiting
MAEM's natural gas trading
Three former MAEM
traders Christopher McDon-
ald, Michael Whalen and Paul
Atha pleaded guilty in the
Northern District of Califor-
nia last year to conspiracy to
violate the Commodity
Exchange Act.
The company is undergoing
bankruptcy reorganisation and
the Justice Department has
agreed not to file charges for
15 months, but reserves the
right to proceed with prosecu-
tion if Mirant Energy Trading
fails to comply fully with the
terms of the agreementduir-
ing that. 15-month period.
Mirant Corporatioi' said
they were pleased to reAhithe
settlement and "put behind us
matters that happened several
years ago".

"The Department of Justice
acknowledges in the deferred
prosecution agreement Miran-
t's co-operation with the gov-
ernment's investigation of this
matter and the remedial
actions Mirant has previously
taken; including self reporting
the matter' to the Department
of Justice and to the Commod-
ity Futures Trading Commis-
sion. The agreement resolves
the Department of Justice's
inquiry into the reporting of
information about natural gas
transactions by Mirant trading
personnel in 2000 to publica-,
tions that publish gas price
indices. In 2002, Mirant
reviewed and amended its
external reporting process after
industry-wide natural gas
reporting problems were iden-
tified," the company said in a
news release.

reach the Ms Barbara Bur-
rows, the permanent secretary
in the Ministry of Health, or
Ms Melanie McKenzie, the
director of environmental

health, for comment.
However, Ms Burrows
pledged last Thursday to meet
with her directors to attempt to
rectify these complaints.

Established in 1956 by an old Bahamian family
Parliament Street (near Bay St.) Tel: 322-8393 or 328-7157
Fax: 326-9953
Crystal Court at Atlantis, Paradise Island Tel: 363-4161/2
Harbour Green Shops at Lyford Cay
(next to Lyford Cay Real Estate) Tel: 362-5235


Turnquest 'unaware'

of vote allegations


MINISTER of National
Security Tommy Turnquest
said he was unaware of the
allegations that non-citizens.
had registered to vote in the
May 2 elections using "search
cards" until the story broke in
The Tribune last week.
The search cards, which are
issued by the registrar gener-
al's office, were accepted at
Parliamentary voter registra-
tion booths, sources claim.
These cards are typically
issued for people whose birth
certificates cannot be found in
the official state records after
all checks have been exhaust-
ed. They are usually issued to
residents over the age of 50,
whose birth records are not
found in the country's system -
however they are not a proof
of citizenship.
"Birth certificates are not
used to determine citizenship
and so they ought not to have
been used to determine who
is a Bahamian citizen eligi-
ble to be registered to vote,"
Mr Turnquest said.
"If there are cases of that,
well that obviously needs to
be investigated. As far as I'm
aware the Parliamentary Reg-
istration Department, which
does fall under (the Ministry of
National Security) knows that
they are not to take birth cer-

* TOMMY Turnquest
tificates' or search cards, as a
form of identification for reg-
Asked whether his ministry
would enact more stringent
voter registration guidelines in
the wake of the new fraud
claims, Mr Turnquest respond-
ed: "The guidelines that we
have are quite appropriate, the
law just needs to be followed.
We know that you need a pass-
port in order to register to vote.
If you don't have a passport
and are a naturalised citizen,
you get a citizen card, or you
show your parents' documen-
tation. If you do use a birth cer-
tificate, you have to show your
parents' proof of (Bahamian)
citizenship. But the law is clear,
we just need to follow the law,"
said Mr Turnquest.

-13- .. W

Allmodls re aced y a24-o egg3,0 -mlfatr

systems protect cargo
* Tilt/power steering & superb visibility in
a comfortable cabin
* Wide, extra-long cargo bed with
reinforced frame

Available in Grand Bahama at Quality Auto Sales (Freeport) Queens Hwy, 352-6122 Abaco Motor Mall, Don MacKay Blvd, 367-2916

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

TUESDAY, JULY 17, 2007, PAGE 3


PAGE 4, TUESDAY, JULY 17, 2007



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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

Facts on the PLP and Independence

LAST MONTH Senator Allyson Maynard-
Gibson riled Senator Dion Foulkes by alleging
that "the roots of the FNM were opposed to
majority rule and independence."
If this generation of PLP's were smart they
would either steer clear of their party's history
or try to get to know it better. They only make
themselves look silly when they repeat their
party's propaganda.
PLP's like Mrs Gibson should not forget
that there are old timers like ourselves who
lived through and wrote about that period. And
whatever details we might forget can be
researched in Tribune files. We were around
before the PLP was founded and so we proba-
bly know more about that period than she does
- particularly what went on behind closed
The truth of the matter is that while some
PLPs among them what came to be known as
the Dissident Eight who broke with the PLP and
eventually founded the FNM were for inde-
pendence, the leader of the PLP was not.
In 1972 when independence was being hotly
debated with many Bahamians against it, Sir
Lynden Pindling visited England. While there a
British newspaper interviewed him. During the
interview he was asked his position on inde-
pendence for the Bahamas. His reply was that
he was against it. Many Bahamians breathed a
collective sigh of relief.
However it was only a matter of weeks after
that London interview that parliament recon-
vened and the governor delivered the Throne
In that speech it was announced that the Pin-
dling government was going to take the
Bahamas into independence. Many Bahamians
were not only disappointed, but angered by Sir
Lynden's duplicity. Needless to say, this news-
paper had much to say about it at the time.
The public never really knew what caused
the Pindling mind change. Some speculated
that it was at a time when England was divest-
ing herself of her colonies and would have been
happy to see the Bahamas go. However, those
close to the situation maintained that it was his
side-kick, Arthur Hanna, who twisted his arm
towards independence.
It really doesn't matter what caused the mind
But it does make the words of Mrs Gibson'
ring hollow when she claims that the PLP were
for independence and the "roots" or founders
- of the FNM were not. For her to make such
a statement shows that instead of getting to
know the ins-and-outs of her party's history
she was too busy believing bedtime stories.
It is true that Sir Cecil Wallace Whitfield,

who had earlier supported independence, had
changed his mind by 1972. It was not that he did
not believe in independence for the Bahamas. It
was that he did not want it under the corrupt,
victimising Pindling government.
He was not alone in his feelings. Indepen-
dence at that time was a fiercely debated and
divisive issue. If it had gone to a referendum, as
Bahamians were led by Sir Lynden to believe it
would, it could well have been defeated. This is
probably why Sir Lynden did not trust a refer-
Senator Foulkes reminded Senator Gibson
that the -men she was attacking were the very
men who fought for the rights of Bahamian
The suffragette movement in the Bahamas is
one that Mrs Gibson, should know well. Her
grandmother on her father's side was a suf-
In the end, the PLP, always trying to play
cute on their political shuffle board, manoeu-
vred themselves into an embarrassing position.
The statement of Mrs Mary Ingraham,
founder and first president of the suffragette
movement, will go down in history as the final
word on the PLP and the woman's vote.,
Mrs Ingraham said that when the motion to
give women the right to vote came to the floor
of the House "not one member of the PLP gov-
ernment, including the Prime Minister (Pin-
dling), voted for the women to vote. "
Instead every PLP member walked out of
the House.
History will say the same of the PLP under
the leadership of former prime minister Perry
Christie who fought. hard to defeat the 2002
referendum that would have amended the Con-
stitution to protect Bahamian women, their for-
eign spouses and their children.
Speaking at.a town meeting on January 31,
2002, Mr Christie called on then prime minister
Hubert Ingraham to cancel the referendum.
He-said "it should be left to the next govern-
ment of the Bahamas to do it the right way."
Four months later Perry Christie headed the
next government of the Bahamas. He had five
years "to do it the right way." As usual he did,
nothing. For him to give Bahamian women
nothing was obviously "the right way." Bahami-
an women still have no protection for their fam-
ilies. It is hoped that the'Ingraham government
will sometime within the next five years look at
these amendments again and do them "in the
right way."
And, unless the PLP, having twice blotted
their copy book over women's rights, want to go
down in history as anti-women's rights, they
would be well advised to support the issue.

I -

At ibest RCK
,-..y A-!he best deal inmko

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

Villi our showroomn o! Quliy Auto Sal t Lid or d for il ar deals, Quens Hwy, 352-6122
orAbco Motor Mola, Don Macoy Blvd, 367-2916

a human

EDITOR, The Tribune.
HELLO my name is
Tecoyo Bridgewater. I am -24
and I work as a valet parker at
the Atlantis. Yesterday early
in the morning around 2am
on July 1st, I witnessed some-
thing that shocked me.While I
was coming home driving
along Village Road last night I
noticed flames coming from
below the little hill after you
pass the Queen's College
school, I thought it was some-
one burning something, to my
dismay it was a car accident.
The car was right side up
lodged between a wall and
near a light pole. At the scene
there were about six individu-
als surrounding the car, which
was on fire, one individual
who was obviously a part of
the accident lay on the ground
in pain and bloody about eight
feet away from the burning
He more than likely was
thrown from the vehicle. I
asked the individuals "is he
all right", at this time a female
bystander shouts out, "There's
someone still in the car," so I
shouted: "Why aren't you try-
ing to get him out?" At that
time one of the individuals
stated that they should get out
of here before the police
came. I then pulled my car
over, ran to the burning car,
yes I was afraid that the car
was going to explode but I
also saw the man in the car
inches away from the flames. I
attempted to open the right
rear door that was exposed to
the streets but it was locked, I
looked around to find some-
thing to break it, I found a
rock and threw it into the back
window, then opened the
IThe man in the car was in a
stite of shock, I tried to pull
h pl out but his foot was
caught between the dash and
the steering wheel, so I had to
leap half way into the car and
free his leg. At that time one
of my friends passing stopped
and helped me pull him from
the wreck and across the
I am writing this to show
my shock and disbelief of how
our standards of brotherhood
have been lowered within our
society, and how the respect
and value of human life is
almost non existent. Those
person were about to let this
man burn to death rather than
help him, because what, they
were afraid of maybe an
encounter with the police, or
maybe they were a part of the
reason for the accident, I don't
know. Nonetheless, the fact

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




iA CablU t Its lgir andbettersomust we.
We are in search of highly motivated individuals. To join
our winning sales team as we expand our horizons.
Do you desire more than average?
Are you ready to take a step up the financial ladder?
Are you trying to buy that dream home,
send your kids to college, or buy a new car?
Then this is your opportunity to realize that dream.

that the man in the car was a
person and had a family
should have been enough to
cause them to want to help.
Yes, I was afraid that the car
might explode but I weighted
the odds and I could not live
with myself if I had watched
this man die. I think we as a
nation must re-evaluate our
standards and look at what we
have become, we are losing.
our humanity and substitut-
ing morals for materialism.
Additionally, it took the
ambulance almost an hour-to


get to the scene, if the victims
had severe injuries they would
have been dead by the time
the ambulance got there.
Something definitely needs to
be done about that.
These are my concerns
because I feel as if we should
be guided by the golden rule:
Do unto others as you would
have them do unto you. If I
was in that car I would have
liked someone to have
stopped for me.
I took a few pictures of the
men and crash.

July 4, 2007.

There are elements that want

us as a country to crumble

EDITOR, The Tribune.
AS I read the front page (July 14th) "Massive voter fraud", the
first paragraph made me feel nauseated and sick to my heart.
What a disgrace, a scandal in our country, not a few, but it was
claimed that thousands of foreigners were able to vote in this
year's election.
Please someone (government) say this (headline) or other stories
like this was made up, just to sell papers, because if so this was so
convincing, they probably had a hit for the weekend, with this
headline (I travelled the length of East St South) all the major shops
were sold out.
I wrote a letter (June 26th) to the editor (crime and illegal immi-
gration) similar to this matter, and I am convinced from what I am
now reading is the truth, to the problem we are facing in this coun-
try. Let us be honest and forthright, and accept first the problems,
so we can see how to go about making amends.
The laws of the land are now a mockery, a shambles, only a
few of the fittest receives "swift justice" (like the days of the wild,
wild west) in all these constitutional holocausts committed by a
bunch of lawless brutes.
"Calling all the brave warriors who will stand and defend?" Will
the lil' man on the streets rise up to the occasion, in strong protest?
One criminal (in*my opinion;anyone who goes contrary to the *.
law. and registers to vote, when they ought not).said on radio that
he used a school ID to register, others claimed to use driver's
licenses (the latter I watched, and listened to on the radio, saying
it is valid as proof) how? and why? Anyone can obtain that even if
it's through the back door, and it is available to any persons
regardless of status.
On my beloved island of Grand Bahama,%tories abound of folks
who came from Turks and Caicos Island, and voted, we (natives)
know the times. I am very disappointed that my MP (Golden
Gates) was "railroaded" by sensational news, and voodoo chants,
and was not fully able to liberate my Great Bahamas of these evil
intruders, God help us. Mr Loftus Roker, we, this generation of
True-True-Bahamians, feel betrayed by our fathers and mothers
who did not see your vision, now we got egg on our face.
For us (proud Bahamians) let's lift up our head, demand justice
for all, show strength, pray for our nation continually, send strong
words to these politicians, demand accountability, have these
wicked things chopped down, and restore our Constitution. This
must include all Bahamians, regardless of race or creed unite and .
make things happen.
You evil task masters (those who will do anything or sell their
birthright for the mighty dollar), God will soon make way from your
wicked ways. Of course it is hypocritical to believe that all nation-
als who are born to immigrant parents are criminals, we have lots
of business persons, sports heroes, law persons, pastors, and fam-
ilies who are proud to call this great country home.
Yet fool not ourselves, there are elements out there that want us
as a country to crumble, fall apart as a nation, let God rain on their
parade, and in doing so, let Jehovah God be the Glory, I say no
more for now.
July 15, 2007.

Sandals Royal Bahamian Resort @ Offshore Island.

Invites applications for the positions of:


Applicant 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.

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 r'sume's with proof of qualifications and experience to
cmajorgsrb.sandals.com Fax 327-6961.
Closing date July 20,2007

The value of

o ""


0 In brief

services to
be held at
4 St Margaret's
MISSION services will be
held at St Margaret's Church,
Kemp Road, on Wednesday,
Thursday and Friday by
L, Archdeacon James Palacious.
a. "Get Out Of The Pit" (Gen-
esis 37:24) is the theme of the
oj mission.
On Sunday, July 22, the 7am
Holy Eucharist will be cele-
1. brated by Rev Angela Pala-
cious, who will also preach the
T The 9.30am Holy Eucharist
will be celebrated by Rev
Joseph Mycklewhyte, who will
also preach.
At 3.30 pm there will be
Evensong, a sermon, and an
outdoor procession followed by
benediction. The preacher will
be Rev Ethan Ferguson. His
theme will be "The Battle of
Life is to Live Victoriously".

police find
drugs in
off-key piano
WHEN a grand piano played
an off-key note, drug police in
",r this Caribbean port opened it
,' up and found some 560 pounds
of cocaine stuffed inside,
according to Associated Press.
u, The piano was part of a ship-
ment of household items origi-
Snating in the capital of Bogota
and destined for Panama, police
said in a statement Monday.
."! Authorities were investigat-
:. ing, but had made no arrests.
SThe drugs' value was estimat-
ed at $5 million.
S' Agents in Cartagena noticed
,b the'piano was suspiciously
' heavy and decided to tap some
keys, only to find the sound
quality seemed strange, the
' statement said. The cocaine was
' rdi tSo ted plaeked'int'9anious' "
1-, retdgsds, 0ofth6instrument a*.
'Colbijbipidprduces albut 90t' !
,n' per'cerit'6f the cocain ddii- "
;t' sumed in the United States,
' most of which is trafficked
through Mexico and Central
' America.

resigns after
cash found
',, Buenos Aires
,. PRESIDENT Nestor Kirch-
'(, ner's, economy minister resigned
Monday after a prosecutor
, ordered her to testify about
-o some US$64,000 that was found
in a bag in her office, the gov-
*, ernment said, according to
T:j Associated Press.
',, Kirchner accepted Felisa
Miceli's resignation and
appointed economist and Indus-
try Secretary Gustavo Peirano
as her replacement, Chief of
Staff Alberto Fernandez said.
Late last month, police con-
ducting a routine security check
found a brown paper bag con-
Staining the cash in Argentine
Sand US currency in a bathroom
cabinet inside Miceli's offices.
Miceli said her brother had
Loaned her most of the money
so she could buy a house and
she had taken it to the office
for safekeeping until she could
Sput it in a bank. She said she
broke no law, but committed a
S"blunder" by leaving it in her
But federal prosecutor
SGuillermo Marijuan was not
Satisfied with the explanation
Sand ordered her to appear
Before a judge to make a decla-
S Only a week ago, Kirchner
S had offered a public show of
support for his embattled Cab-
inet minister by traveling with
Usher to Independence Day fes-
Stivities in central Argentina.

Miceli had been economy
minister since 2005, when she
replaced Roberto Lavagna dur-
ing a shake-up of Kirchner's
Kirchner recently announced
That his wife, Cristina, would
Srun for president in Argentina's
Oct. 28 election. She is consid-
ered the front-runner against a
divided opposition that includes
SLavagna as a candidate.
Peirano is considered a strong
supporter of Kirchner's efforts
to encourage industrial devel-
opment and state intervention
in the economy.

Bahamians warned to watch

budgets as food prices rise

Tribune Staff Reporter
THE the average Bahamian
consumer has been told they-
will need to better manage
their personal finances in the
face of rising global food prices.
"As a general rule I think
that is where we are needing
to go, as a people, to try to
manage in a better way our
resources to account for these
cost increases and other issues
that impact on personal
finances," Minister of State
for Finance Zhivargo Laing
said yesterday.
According to reports in the
International Herald Tribune
yesterday, the International
Monetary Fund recorded a 23
per cent rise in food prices in
the last 18 months the fastest
increase in at. least a decade.
This surge in prices is going
to hit nations where "con-
sumers spend a greater share
of their income feeding them-
selves" most a description
which some could say. applies
to a significant portion of
Yesterday, Mr Laing said
that while the government is
watching the upward trend,
"quite frankly there is not
much we can do about it given
the extent to which we depend
so much on importing our
food stuffs."
While government can
adjust the custom duties levied
on certain food items in line
with any increases to provide

-' tt*9I

* LARRY Cartwright

some relief "to the extent
the fiscal programme permits"
- and create incentives for the
development of an indigenous
agricultural industry, ulti-
mately neither of these actions
will be able to shelter Bahami-
ans from the surging cost of
imported food products.
The minister noted that the
government has to be vigilant
when it tomes to the price of
products coming into this
country, keeping in mind the
fact that we "import inflation"
from the US when we primar-
ily supply our foodstores with
products from that market.
The US market is currently
being effected by a surge.in
demand for agricultural com-

modities to make ethanol and
other substitutes for crude oil.
The OECD has predicted a
doubling of demand in the US
and Europe for organic prod-
ucts to make biofuels by 2016.
Additionally, climbing oil
prices worldwide are adding a
double burden by impacting the
cost of shipping commodities
from outside markets to
Bahamian food stores.
Yesterday, Mr Laing noted
that any price increases in the
US market are bound to have
an impact in the Bahamas,
"considering our economic
structure and history."
Many items to which Bahami-
ans are accustomed will never
be produced in this country.

"If expanding agriculture and
fisheries helps to bring some
relief you welcome that but you
know and I know that the fish-
eries items and the agricultural
produce are only a component
of the overall grocery needs of
the average Bahamian house-
hold," he said,
The Minister of State added
that people will have to be'
"realistic" in terms of the
impact that can be made by
expanding the agricultural sec-
tor, bearing in mind that any
difference would be felt more
in. the "medium to long term"
than the short term.
Minister of Agriculture Larry
Cartwright has urged Bahamian
farmers to become "more com-

petitive" in. light of the global-
ising and liberalising trade envi-
ronment and has stated that his
government has policies devised
to aid farmers in this effort.
Leslie Miller, former minis-
ter of agriculture, trade and
industry, claimed yesterday
however that there would have
to be a sea change in Bahamian
attitudes towards work such as
farming if any dent was to be
made on the amount of food
brought in from abroad. "The
will is lacking," he said.
Mr Miller added that the
FNM is too "embedded with
the rich business sector" to
enact policies that are in the
interest of the "small Bahami-

Bahamas International Film Festival

to run filmmaker's residency again

',t, v-ipreparation -for the
fourth-annual Bahamas Inter-
f iatbiiil'Film Festival, the
'bfganhisers have announced
the return of the Filmmaker's
Residency Programme.
The programme is being
sponsored by one of the
Bahamas' leading offshore
banks of 50 years, Ansbacher
(Bahamas) Ltd.
In a statement issued yes-
terday the Bahamas Interna-
tional Film Festival (BIFF)
extended "special,thanks" to
Michael Mayhew-Arnold, the
managing director of Ans-
bacher and advisor to BIFF,
for his support.
This year, the best screen-
play or treatment for a feature
film written by a Bahamian or
Caribbean artist will be award-
ed a $10,000 prize to aid, with
the development and eventual
production of the film.
Both Bahamian and
Caribbean filmmakers have a
"fantastic" opportunity to get
funding for their dream pro-
ject, whether it be a big bud-
get spectacle or a small inde-
pendent work, the statement
In addition to the grant, the
Filmmakers Residency Pro-
gramme seeks to nurture new
filmmakers and screenwriters
by allowing them an unrivaled
opportunity to spend a full
day with those who make a
living working in the industry

they wish to break intp. ",
"It is our intention that the
contacts made will last eyond
the'time spent at tfl pro-
gramme, and that all wlo take
part in the programme will
benefit from attending," the
organizers said.
However, the programme
is not limited to film. Artists of
any kind may enter their pro-
jects for consideration as well.
As Maria Govan, director
of RAIN has said, "BIFF
offers Bahamians two very
important things through the
residency programme the
opportunity to get feedback
on one's work so that Bahami-
ans may become better screen
writers'and also the opportu-
nity to connect with industry
people who have the capacity
to help realise that which is
given to them on the page."
The programme will take
place on December 8, where
filmmakers and advisors will
be introduced, followed by
one-on-one meetings.
Towards the end of the day,
all participants will come
together so that each person
can ask questions in a group
Finally, the advisors will
meet with each other and give
feedback on each project, and
will provide each filmmaker
with comments from an
impressive cross-section of




.1 .-
,-: .'.

TO G40 0

322256 -04 -.23775 -32 -70

"As the festival grows with
each passing year, the Resideh-
'cy Programme'continues to pro-

vide us with outstanding artistic
work from both the Bahamian
and international communities.

We are confident that this year
will be no different," the state-
mnent said.

mart is Exciting


Save NOW on your Choice of New 2007 Ford vehicles

All New

2008 Ford ESCAPE XLS
Fower-fully fun to Drive 2.3 L 4
cylinder engine with automatic
transmission, power windows, locks
& mirrors, dual air bag, alloy wheels,
running boards.

I Makethew SmarthSic

Available at


THOMPSON BOULEVARD TEL.: 356-7100 FAX: 328-6094
n c....or EMAIL: friendlymotors@hotmail.com WEBSITE: friendlymotorsbahamas.com


TUESDAY, JULY 17, 2007, PAGE 5








RO. BOX N-167
Nassau, The Bahamas
July 19, 2007
Probate Division
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,
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.
K Mackey

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 ALLEN, JR., late: of.The, Eastern
Road, Eastern District, New Providence, one of the
Islands of the Commonwealth of The Bahamas,
Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.
Desiree Robinson
(for) Registrar

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 applicatiQn 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.
Desiree Robinson
(for) Registrar

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.
Desiree Robinson
(for) Registrar

Probate Division

P RO. 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,
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.
Desiree Robinson

July 19, 2007
No. 2007/PRO/npr/00312
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.
Desiree Robinson
(for) Registrar

July 19, 2007
No. 2007/PRO/npr/00313
Whereas, BERYL ANDREA WILLIAMS of 8 Benson
Road, Dannottage Estates, Eastern District, New
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
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.
Desiree Robinson
(for) Registrar

July 19, 2007
No. 2007/PRO/npr/00314
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.
Nicoya Neilly
(for) Registrar

July 19, 2007
No. 2007/PRO/npr/00315
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,
Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.
Nicoya Neilly
'(for) Registrar

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.
Desiree Robinson
(for) Registrar

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
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.
Desiree Robinson
(for) Registrar

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,'Westem 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.
Desiree Robinson
(for) Registrar

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.
Desiree Robinson
(for) Registrar

PAGE 6, TUESDAY, JULY 17, 2007



GN-531 -l

Bridgewater continues

propaganda drive as seat

challenge approaches


Probate Division

RO. BOX N-167
Nassau, The Bahamas
July 19, 2007

Van Buren County in the State of Tennessee,
one of the States of the United States of
America, deceased.

NOTICE is hereby given that after the expiration
of fourteen days from the date hereof,
application will be made to the Supreme Court
of The Bahamas in the Probate Division by
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

Nicoya Neilly

Pleasant Bridgewater has
vowed to hold newly elected
MP for Marco City Zhivargo
Laing's feet to the fire to ensure
that constituents get the kind
of representation "they are used
Ms Bridgewater, the former
Marco City MP, stated that for
the past five years, residents of
the area experienced "first
class" representation which
included several positive recre-
ational programmes for young
"The constituents of Marco
City are used to having things
done properly, and used to hav-
ing it done first class.
"Marco City should insist that
they get no less treatment from
their MP when they are being
provided with funding and an
allowance of $100,000, when I
was not given money to do so,
but I provided it," she said.
Despite losing her seat to Mr
Laing, Ms Brid~gewater
announced last Friday that she
will be spearheading initiatives
for the constituents in an effort
to fulfill promises she made dur-
ing her election campaign.
She is offering a computer
programme at her Marco City
office on Somerville Drive,
where computer teachers will
provide training in the form of
elementary, intermediate and
advanced courses for children
and adults.
The programme will run for
six weeks at a time and will cli-

* PLEASANT Bridgewater

max with a graduation and cer-
tificate ceremony. The courses
are free, but persons may be
. charged a small fee around $5
- for a personal kit, she said.


Ms Bridgewater said that she
is also considering holding a
"summer celebration splash"
for constituents at the grounds
of her office.
"I am a person who tries to
live up to my commitments, and
I have made promises during
the election campaign and I will
continue to live up to my com-


mitments to the constituents of
Marco City," she said.
Ms Bridgewater, who is con-
testing the results of the elec-
tion in Marco City, noted that
while in office, she organised
an annual summer camp, a back
to school bash, and summer
employment for the residents
of Marco City.
She revealed that the sum-
mer camp had offered employ-
ment to 100 persons, who were
paid a minimum of $150 per
week for two weeks. She also
stated that camp participants
were provided hot lunches and
field trips.
"I had activities of the highest

quality; I gave them t-shirts, sta-
tionary, backpacks, and took
them on field trips, and I attend-
ed camp every day for two
weeks," she said.
,"I usually hold a summer
camp, but I will not have a sum-
mer camp this year because
Marco City has another mem-
ber of parliament, and it is my
belief that we should allow peo-
ple, as long as they represent.
an area, to offer good repre-
sentation to the people," said
Ms Bridgewater.
She pointed out that Mr
Laing had outlined plafis for
Marco City during the election,
and said the people need to
insist that those things are done.
In response to Ms Bridgewa-
ter's comments, Marco City MP
Zhivargo Laing said that he has
wasted no time in providing
positive programmes for his
"I might note that five years
since her election, she is now
establishing a computer centre.
I have been elected now only
two months and I have a com-
puter centre that is set to start in
August when her programme
-five plus years later will start
in September.
Mr Laing said that he has no
desire to continue in a back and
*forth battle with Ms Bridgewa-
ter. "We have a lot of work to
do in Grand Bahama and we
have been working feverishly
to get things done here, and that
is what we are focused on," he

No. .;i ..; 2007
No. 2007/PRO/npr/0O24 ..::;, >:-

Whereas RUBY ELAINE BYER of the Southern
District of the Island of New Providence, one
of the Islands of the Commonwealth of The
Bahamas has made application to the Supreme
Court of The Bahamas, for letters of
administration of the Real and Personal Estate
of 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,

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

Nicoya Neilly
(for) Registrar

Probate Division

P.O. BOX N-167
Nassau, The Bahamas
July 19, 2007

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

Nicoya Neilly

IDB Cultural Centre to finance 40 cultural

projects in Latin America and Caribbean

'The Inter-American Devel-
opment Bank's Cultural dOM-
tre announced today, the selec-
tion of 40 small-scale cultural.
development projects in 25
countries in Latin America and
the Caribbean, including the
The projects will receive par-
tial financial support of between
$3,000 and $7,000.
This year's grants were
awarded in line with the
Opportunities for the Majority
initiative launched by IDB
president Luis Alberto
Moreno. Preference was thus
given to projects that empha-
sised the role of indigenous
peoples, women, youth, com-

munity building, preservation
of cultural heritage and cre-
ative education in development
through culture.
The IDB Cultural Centre's
programme promotes cultural
development in the community
by financing innovative projects
in Latin America and the
Caribbean for technical train-
ing in restoring traditions, pre-
i serving cultural' heritage and
educating youth.
Taking into consideration
the need and diversity of these
cultural disciplines, the pro-
jects are evaluated for their-
viability, educational scope,
effective use of resources, abil-
ity to mobilise additional

sourtes.of finaihdig aiaiLl6fg-..'- tdsponsible for the. projects, in
termnimpat otnaldargoiparlfv,.i6rder.to achieve optimum
the community. I results.
The IDB's country offices From the Bahamas, the
promote the programme and Youth anid Young Adult
select the best proposals for Marching Band from Saint
final review by the IDB Cultur- Matthew's Youth Ministries is
al Centre's selection commit- among this year's selected recip-
tee. ient institutions.
In 2007, 685 project applica- Other bank member coun-
tions were received, 245 were tries selected to receive support
pre-selected by the country this year are: Argentina, Belize,
offices, and the committee Bolivia, Brazil, Chile, Colom-
awarded grants to 40 projects bia, Costa Rica, Dominican
from 25 countries. Republic, Ecuador, El Salvador,
As partners in each of the Guatemala, Guyana, Haiti,
projects, the IDB Cultural Cen- Honduras, Jamaica, Nicaragua,
tre and country offices work Panama, Paraguay, Peru, Suri-
together to supervise, monitor name, Trinidad and Tobago,
and guide the institutions Uruguay, Venezuela.


I Sanpin Motors Ltd.

I Your -


0 Special of the week
m Nissan Sunnys from .
$4,000.00 and Up Bgu Vi
C Check out our Cti tra ds uca
New Inventory U a
S Thompson Blvd re121161
M 325-0881/2 ..
U West of the main showroom


* 0In brief

President of
Mexico disputes
campaign finance
Calderon on Monday dismissed
as "pure fiction" the allegations
by a Chinese-Mexican busi-
nessman that Mexico's ruling
party forced him to hide tens
of millions of dollars in cam-
paign cash at his home, accord-
ing to Associated Press.
In his first public statements
about the accusations by Zhen-
li Ye Gon, Calderon said they
"are not only false, they are
Ye Gon claimed this month
that he was threatened with
death by the ruling party unless
he stored at least US$150 mil-
lion in his Mexico City mansion.
But key details ind Ye Gon's
version of events seem contra-
dictory, unclear or unverifiable,
and a senior US anti-drug offi-
cial said he knew of no evidence
that the Calderon administra-
tion which has sent troops into
the streets to fight drug cartels -
has any links to organised crime.
Ye Gon is charged in Mexico
with drug trafficking, money
laundering and weapons pos-
session for allegedly importing
19 tons of a pseudoephedrine
compound used to make
methamphetamine charges he
In all, police found more than
US$207 million hidden inside
the mansion's walls, suitcases
and closets. Calderon said the
March 15 cash seizure was a
blow to the "backbone of
methamphetamine trafficking
in our country and probably in
the continent."

TUESDAY, JULY 17, 2007, PAGE 7



Craft centre positions

Bimini for surging

tourism numbers

BIMINI has opened a state-
of-the-art craft centre that
tourism and government offi-
cials are confident will improve
product quality and increase the
variety of Bahamian-made sou-
On Friday last week, Minister
of Tourism Neko Grant offi-
cially opened the Bimini Craft
Centre, which includes 17 stalls
and sits on almost 3,000 square
The craft centre features
straw creations, conch shell
ornaments and other souvenirs.
Valued at more than
$200,000, the centre was 'com-
pleted by Bimini contractor

Daron Hinzey and comes at a
time when industry observers
say too many tourists are being
disappointed with the quantity
of Bahamian souvenirs.
"I am so delighted that one of
my first duties as. minister of
tourism to participate in the
opening of this craft market,"
Mr Grant said. "There was a
time when Bahamian products
were sold in our craft markets.
We often heard the stories of
vendors who were able to send
their children to universities
from monies they would have
earned by selling Bahamian-
made products. So I want you
to know that we will take every

step necessary to ensure that
the goods sold in this market
are indeed Bahamian."
Mr Grant urged Bimini resi-
dents to maintain the craft cen-
tre's pristine condition. He
pointed out that all residents
are investors in their island. As-
a result, he. said, Bimini resi-
dents have ownership of the
facility, although funds for its
construction came from gov-
ernment resources.
"It was spent by the Bahamas
government, but it was indeed
your money," he said. "So we.
would wish for you to treat this
market like it was yours."
The Bimini Craft-Centrem

opened on the heels of a series
of workshops designed to equip
souvenir manufacturers with
techniques to increase the qual-.
ity of their products.
The workshops, conducted by
the Ministry of Tourism and the
Bahamas Agricultural and
Industrial Corporation (BAIC),
took place as Bimini experi-.
enced growth in visitor arrivals.
Obie Wilchcombe, member
of parliament for West End and
Bimini, said the opening of a.
first-class craft centre demon-
strates Bimini's belief that the
essence of the tourism industry
will always be local products.
- "This is the best craft centre

* ANGELA Cleare, consultant in the Ministry of Tourism, cuts
the ribbon to signify the official opening of the Bimini Craft
Centre. She is assisted by Minister Neko Grant and Mrs Grant as
others look on.

and straw market in the entire
Commonwealth of the
Bahamas right now as I speak
today," Mr Wilchcombe said.
"And I believe it is going to
become the prototype for all of
our markets throughout our
islands because you would see
that over the past several years,
effort has been made to
improve the product here in

Among recent improvements
in Bimini are the dredging of
the harbour, increased flights
from Florida and the return of
renowned fishing tournaments,
Mr Wilchombe said.
He urged the people of Bimi-
ni to ensure that the new craft
market remains an outstanding
part of Bimini's infrastructure.

. Bahamas Scout contingent goes

.* to 21st World Scout Jamboree
.J.-tia'itoH-- ^ 0.* eel^lC^k*C&i *. .

* SEATED (I to.r): Joseph Pickering, training commissioner;
Alexander Gibson, Chief Scout; John Philpot, Bahamas Scout
Association president; Rev Fr Don Haynes, assistant priest at
St Matthew's Church. Standing centre: Shandel Munroe,
assistant contingent leader; (far right) Veronica Moore,
contingent leader and co-ordinator.
(Photo by Anthony Longley/St Matthew's Communications)

Eleven young Bahamians will
represent their country as the
Bahamas' Scout contingent to
the 21st World Scout Jamboree.
The event is being held in the
United Kingdom, from July 27
.to August 8.
The contingent is will be
made up of three young men'
and one young woman. Three
of the young men are from
Grand Bahama.
The expo is expected to attract
45,000 young Scouts and Scout
leaders from around the world.

Another 20,000 visitors will
pass through the camp grounds
every day on one day passes.
The contingent will also expe-
rience- a cultural exchange in
Paris, France, from August 8 to
13 before returning to home
soi. '
Accompanying them will be"
Rev Fr Don Haynes, contingent
leader and Chaplain; Veronica
Moore, contingent leader and
co-ordinator and Shandel
Munroe,.assistant contingent

The young Scouts along with
leaders of the Bahamas Scout
Association, parents and well
wishers, worshipped at St
Matthew's Church this past
The celebrant was Rev Fr
Don Haynes, assistant priest at
St Matthew's, who delivered a
provocative sermon in which he
challenged the congregation to
love and care for one another.
"We ,will not be having the
levels of murders and abuse
that's wreaking havoc on our

nation today, if as a people, we
would ,learn to help each oth-
"Instead, we are too con-
cerned about how we will be
inconvenienced if we stop to
help a brother or sister in need,"
Fr Haynes said.
He encouraged his listeners
to be generous with their time
and resources and to be sensi-
tive to the needs of others. He
prayed that the Scout contin-
gent and its leaders would have
a safe and enjoyable experience.

Overweight studentsarn to shape up

Over-weight children were
commended for their efforts at
weight reduction and were

urged to pass on to their par-
ents some of the weight -loss
techniques they were taught at a

special camp.
The students successfully
completed their physical cours-

-es-at the SHAPE
training to be health
ically empowered)

2 (Studf
hy and p
Camp, 2

ents and were congratulated for their
hys- achievements on Friday during
007, a special ceremony at the Doris
Johnson Senior High School on
Prince Charles Drive.
a The youngsters ran, walked
and participated in a number of
physical activities designed to.
reduce their weight. And they
had fun while doing it.
Parents and students turned
out on Friday for the closing
ceremonies. Most important of
all, the children left with an
enhanced sense of self worth
and achievement, and were,
taught to feel good about them-
selves and how to reduce their
weight through regular exercise.
Chief Medical Officer Dr
Merceline Dahl-Regis lauded
the students on their achieve-
ments. She urged them to con-
tinue to make healthy dietary
choices and to urge their par-
ents to do the same.
"We want to promote healthy
lifestyles and it begins with each
of us where we are," she said.
"It's a way of living and we can
start at anytime."
Dr Dahl-Regis said fast foods
and junk food like chips and
chocolates are dangerous if not
eaten in moderation. She
recalled that when she was a
child, the healthy practice of
eating fruit as a snack was much
more common.

Today there are a huge num-
ber of fast food outlets and an
enormous variety of fried food
on offer in the Bahamas. She
said these foods should be eaten
in moderation and not abused.
"We want you to choose dif-
ferently and that's what this
camp is all about," she said.
"There are things that you
can constantly do in your daily
activities to promote physical
fitness," said Dr Dahl-Regis.
The students were taught
how to appreciate themselves
while trying to attain a healthy
weight. Some of the key lessons
taught were:
Accept yourself
Stop dieting (instead, eat
well and enjoy being active)
Enjoy your food (follow the
dietary guidelines and eat for
energy, good health and plea-
Get up and move . and
keep moving
Relax yourself (breath
Feast on positive thoughts
(choose thoughts that energise
you and do not drag you down)
Look good all the time
Don't forget family and
Have an attitude of grati-
Express yourself (express-
ing personality through hobbies)


The Government of The Commonwealth of The Bahamas annouincs the issWe of a father
offering of Bahamas Registered Stoek totalling B$100.000 Million. Applications will be received
by The Banking Department beginning at 9:30 am. on 17th July, 2007 and will close at 3:00pm on
24th July, 2007. Allocations will commence at 9:30 a.m. on 25th July, 2007 and will -case at
3:00p.m. on 26th July, 2007. Application for the Stock subscriptibn mu.ste-applied tmr Mn unit of
BS100.00. The details of the Issue are as follows:

S ... ..... .. .

Rate of Interest Name of Stock Amount Price

5/16% Above Prime Rate Bahamas Registered Stock 2027 10,000,000.00 100.00
9/1-6% Above Prime Rate Bahamas Registered Stock 2035 30,000,000.00 100.00
19/32% Above Prime Rate Bahamas Registered Stock 2036 30,000,000.00 100.00
5/8% Above Prime Rate Bahamas Registered Stock 2037 30,000,000.00 100.00

The first interest payment will be on 26th January, 2008. Thereafter, interest will be payable
on 26th January, and 26th July of each year until the Stock is repaid. Application foris may be
obtained from The Central Bank of The Bahamas' offices in Nassau and Freeport, The Public
Treasury or any of the following banks:-

1.) Bank of The Bahamas International
2.) FirstCaribbean International Bank (Bahamas) Limited
3.) Finance Corporation of Bahamas Limited
4.) Commonwealth Bank Limited
5.) Royal Bank of Canada
6.) Scotiabank (Bahamas) Limited
7.) Fidelity Bank (Bahamas) Limited
8.) Citibank NA.

Bank drafts should be made payable to The Central Bank of The Bahamas. Also
wire transfers via Real Time Gross Settlement and Cash are accepted. Subsribers for
amounts in excess of $1,000,000.00 may provide authorization from their Bank for





will be CLOSED


Friday, July 20, 2007.

We apologize for any inconvenience caused.

Confidence Insurance Brokers & Agents Ltd. C I
Shirley St. (2nd floor The Standard House) BP A
Phone: 323-6920 Fax: 325-8486

PAGE 8, TUESDAY, JULY 17, 2007



Four questioned

over stabbing

death of teen
FROM page one

cide squad, told The Tri-
bune that based on intel-
ligence gathered on the
scene of the crime by
detectives, several indi-
viduals were taken in for
questioning by police
within two hours of the
With the country
poised to eclipse eighty
murders this year Mr
Miller told The Tribune
that his detectives have
solved some 35 of the 45
homicides and are mov-
ing to closure in the
"When you look at the
number of detectives
here for what is going
on in this country today,
dealing with murders,
armed robberies
and the like, they are
doing a good job," he
Mr Miller added that
police are in the process
of conducting interviews
regarding Javano's mur-
der and he expects
charges to be filled'
shortly in this case.
This latest homicide
comes after the killing
of two other teenage
boys in just over a week.
Mardio Hall, 18, was
gunned down outside
the Queen Elizabeth
Sports Centre complex,
on July 8th, while 18-
year-old Elima Souf-
frant, of Farrington
Road was stabbed to
death last Thursday
night in the vicinity of
Meadow and Parker
Regarding the latest
homicide, Chief Super-
intendent Miller said
that the four persons
assisting police are three
teenagers, ages 13,15
and 17, and a 20 year

Claim that lawyer Ken Dorsett is

PLP chairmanship front runner

FROM page one

aging partner in Chancellor
Chambers, and is a former asso-
ciate of Graham, Thompson &
Company, and a former part-
ner of Lennox Paton and Hals-
bury Chambers.
The source told The Tribune
that the move to draft Mr
Dorsett who is 36 is a part of
a wider move by younger peo-
ple in the party to take over the
affairs of the PLP.
"What people are upset
about is that for example, Ingra-
ham has shown an ability to put
young people to the forefront
with all of his ministers of state.
Christie, on the other hand,
when he was there, he put a
bunch of old chairmen and old
people there. So the concern is
that you (young people) don't
have a future with Christie as
leader," he said.
"The second term, more
young people were supposed to
be included in what was going
on. But that did not happen. So
as opposed to sitting back any
longer, you will see young peo-
ple in the PLP start to get more
aggressive and push for rights,"
he said.
The source also said that
"the problem with the PLP has
been that we recycle leaders,
we recycle people."
Englerston MP Glenys Han-
na-Martin was the first to pub-
licly announce her intention to
enter the race for the chair-
manship last week at the par-
ty's Speakers Corner series.
Since this announcement, for-
mer PLP Senator Philip Galanis
made statements apparently
criticising Ms Hanna-Martin
when speaking to The Nassau
"I think all of these individ-
uals (who are seeking to be
chairman) should devote their
time to being in opposition and
to being a shadow minister for
their respective ministries," he
"I also believe that there
were some ministers in the for-
mer PLP administration who
were not effective as ministers.

They didn't execute their port-
folios well and they need to
focus their attention on main-
taining their seats and repre-
senting the constituents and
their party in parliament, and
for any such person to have a
dual role (as chairman and
member of parliament), it is
going to be distracting and I
don't think they will be effec-
tive," he said without specifi-
cally naming Ms Hanna-Mar-
Longtime chairman, Ray-
nard Rigby, also made com-
ments indicating some level of
disapproval of Ms Hanna-Mar-
tin's decision.
Mr Rigby told The Tribune
that it is important to separate
the affairs of party and parlia-
ment, which is clearly a criti-

cism of Ms Hanna-Martin's
bold decision.
"I hope we will not turn back
on that principle," he said.
Ms Hanna-Martin took the
PLP nomination from Mr Gala-
nis in 2002 for the Englerston
constituency. While the former
transport minister has openly
taken aim at the position of Mr
Rigby, indicating that there may
be some animosity by the two
men against Ms Hanna-Martin.
Sources are also speculating
as to whether- Mr Galanis will
offer himself as a candidate in
the race for the chairmanship
along with other possible con-
tenders such as: Paulette Zoni-
cle; Jerome Gomez; Jerome
Fitzgerald; Keod Smith; Ron
Rolle and possibly former MP
Ron Pinder.

Coroner's inquest may be held

FROM page one
it concerns jet skis and speedboats being rented out to inexperi-
enced tourists on crowded Bahamian beaches.
Speaking with The Tribune, Chief Supt Glenn Miller, officer
in-charge of CDU, said that early investigations into the incident
now indicate that Eric Thomas a seven-year-old boy from Cincin-
nati, Ohio-'was run over by another jet-ski after falling from the one
he was riding on with his mother.
He explained that it appears that Eric's mother lost control of the
jet-ski when she hit a wave. The boy fell off the vessel and sustained
severe head injuries.
However, Mr Miller said that the investigation into the matter is
still underway. He said that while a Coroner's inquest is a definite
possibility, there are also other options in this case.
Mr Miller said that depending on the outcome of the investiga-
tion, charges could be brought against persons.
"We don't know yet where we are heading with this," he said.
Eric died just hours after he and his family arrived in the Bahamas
onboard the Majesty of the Seas.
The family was enjoying their land excursion to Cabbage Beach,
Paradise Island, when the fatal accident occurred.
This tragedy happened just as Paul and Andrea Gallagher, from
Kent, England, await to have a Supreme Court date set for their
The Gallaghers' two-year-old toddler died in August, 2002 when
he was hit by an out-of control speedboat that came up onto the
beach on Paradise Island.
The speedboat was unlicensed and unregistered.
Almost five years later, three men were charged with manslaugh-
ter through negligence.
Mrs Gallagher told British media last week that 'she had been
informed by Bahamian authorities that a court date will soon be set
foretreiakpf th(&*hreeiWharged in connection with her son's

Small plane stolen from airport

FROM page one

could suspect is that some smuggling went on and they took the
plane to facilitate their activities. They probably flown it to one of
the Caribbean islands to facilitate their illegal business," Mr Rah-
ming said.
The company, he said, has reported the incident to police and
they have sent out an alert to all airports throughout the Caribbean.
Earlier this year police were investigating the theft of a Western
Air, another Androsian company, aircraft that disappeared in
, The 19-seat commuter plane disappeared from Lynden Pindling
International Airport.
The aircraft was later discovered in Columbia.,
Last year a private individual had his aircraft stolen under sim-
ilar circumstances. This plane was later located in Jamaica.

Tourism police unit

FROM page one

regular police force.
Those who do not meet the
necessary requirements will
be absorbed into the reserves
or the civilian branches of the
police force, he said.
"None of these persons are
being ostracised or put aside,"
Mr Dames said.
, -Speaking on condition of
anonymity, a source close to
the unit said that many local
constables gave up govern-
ment jobs they held for many
years in order to join the
tourism patrol unit, with the
view of one day becoming reg-
ular police officers.'
"The requirement of the
unit was that you can't have
two jobs. Some persons in the
unit had two jobs, such as gov-
ernment jobs, working for
many years, close to (retire-
ment). As a local constable in
the unit they had to quit their
second job," the source said.
The source explained that
many local constables who do
not meet the requirements of
the regular police force will
now have to join the reserves.
"As a reservist you can have
two jobs. They now want to
offer these persons the

reservist programme when
they already quit their other
jobs of many years, when they
could have been a reservist
from the very beginning," the
source said.
The source close to the unit
said that many of the local
constables were now con-
cerned about their financial
Responding to these
claims, Asst Commissioner
Dames said that many of the
constables will improve their
situations in regards to salary
and other benefits due to the
restructuring move.
"We. thought it's time for
them (the local constables) to
enhance themselves," he said.
"We have taken a look at
their skills, and other capabil-
ities they may have and we
(looked at) how we can use
them in the force, but no one
was let go, no one's pay has
been cut," he said.
Mr Dames said that from
now on the tourism patrol unit
will be staffed with fully
trained police officers.
"We understand how
important tourism is to this
country and what we hope to
do is to improve upon the
product," he said.

*- "' *Ti-*



Book your Carnival Cruise with aS -x0--.s

& enter to win

Destinations Cruise Dollars towards your next
Carnival cruise

- :-^ ".. ,
:" ' ,,. -'

1" Book now through August 18'h, 2007
5 Winners selected on November 17th, 2007 at the Mall at Marathon office.
Prize amounts: $400, $600 and $1,000 credit towards your next Carnival Cruise.
Contest for individual bookings only. One entry per person.
Exclusive Destinations promotion. Certain restrictions apply.

393-6900 www.destinations.com.bs

invites applications for the position of
Senior Internal Auditor,

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.

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.
* 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
Holding preliminary discussions of the audit findings and results
with operating personnel to verify facts and t9 ensure that every
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

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-
A 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 the 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
Fax 328.1180

TUESDAY, JULY 17, 2007, PAGE 9

(1 .I t lU '.




7:30 8:00 8:30 900 9:30 10:00 10:30

Great Romances Nova A minute-by-minute, eyewit- The Lfe of Birds by David Atten- Wide Angle Back to School' Up-
WPBT of the 20th Cen- ness account of hurricane Katrina. borough "Fishing for a Living" A dates on children first profiled in
tury A (CC) (DVS) (CC) 2003. A (CC)
The Insider (N) NCIS "Shalom" Ziva witnesses a po- Bg Brother 8 Houseguests partici- Pirate Master "Spirits in the Materi-
0 WFOR n (CC) itical assassination and the FBI pate in the veto meeting. (N) A al World" (N) A (CC)
wants her. A (CC) (CC)
Access Holly- America's Got Talent 'Performance Episode No. 1' The Singng Bee Law & Order: Special Victims Unit
WTVJ wood (N) (CC). The 20 finalists perform. (N) A (CC) Missing lyrics. (N) Four honor students are arrested for
)(CC) negligent homicide. A
Deco Drive Onthe Lot Two filmmakers must House 'One Day, One Room" News (N) (CC)
S WSVN leave. (Live) A (PA) (CC) House returns to the hospital after a
short stint in rehab. (CC)
Jeopardy! (N) Just For Laughs Just For Laughs Shaq's Big Challenge Chef Tyler Primetime: Family Secrets (N)
WPLG (CC) Aman relieves (N) A (CC) Florence revamps the school lunch (CC)
himself.at the cafeteria. (N) A (CC)

:00)CSI: Miami Dog the Bounty the Bounty Dth e he BountyBountyo he Bounty Criss Anel Criss Angel
A&E 'Blood Brothers' Hunter 'If the Hunter An unex- Hunter "Fly Boy Hunter Team MindfreakRag- Midfreaklllu-
A (CC) Shirt Fits.." pected tip. (CC) (CC) must find father, ing Bull" sions.(CC)
Hardtalk BBC News World Business BBC News Nurses On the BBC News World Business
BBCI (Latenight). Report Latenight). Frontline (Latenight). Report
BET Hell Date (CC) ** NEXT FRIDAY (2000, Comedy) Ice Cube, Mike Epps, JustinPierce. Baldwin Hills Hell Date (CC)
A young man lives with kin who won the lottery. (CC) :' (CC)
C Rumour (CC) Rick Mercer Re- Little Mosque on The Second Cit's Next Comedy CBC News: The National (N) (CC)
S(VS) port (CC) thePraire Legend (N) (CC)
CNBC 00)n the Fast Money American Made The Big Idea With Donny Deutsch
CNN (:00) The Situa- Paula Zahn Now (CC) Larry King Live (CC) Anderson Cooper 360 (CC)
Scrubs J.D. tries The Daily Show The Colbert Re- Chappelle's South Park Bill Engvall: 15 Degrees Off Cool
COM to help Turk and With Jon Stew- port(CC) Show (CC) 'Starvin' Main" The comic performs. (CC)
Carla. art (C) (CC)(CC
COURT Cops A (CC) Cops n(CC) Cops "Palm Forensic Files Forensic Files Dominick Dunne: Power, Privilege
SBeach A (CC) & Justice (CC)
The Suite Life of HALLOWEENTOWN II: KALABAR'S REVENGE Phil of the Fu- That's So Raven Life With Derek
DISN Zack & Cody A (2001) Debbie Reynolds. A warlock plans a nasty sur- ture Phil cancels Victor's mother "All Systems No
(CC) prise for people on Halloween. n (CC) his date. visis. Go" '(CC)
DIY This Old House Sweat Equity Sweat Equity (N) Bathroom Reno- Bathroom Reno- 10 Things You Trade School
A (CC) nations vatlons Must Know (N)
DW Beckmann ML Mona Usa Journal: Tages- Politik direct Journal: In Euromaxx
DWthema Depth
E!The Daily 10 (N) THS Investigates: Curse of the Lottery Some believe that a curse fol- The Simple Life The Simple Life
Slows lottery winners. .Goes to Camp Goes to Camp
ESPN NFL Live (Live) 2007 World Series of Poker Pot. 2007 WorldSeries of Poker No The Bronx Is Burning Steinbrenner
(CC) Limit Hold'Em, from Las Vegas. imit Hold'Em, from Las Vegas. feuds with Billy Martin. (N)
WNBA Basketball Minnesota Lynx at Connecticul Sun. From the Mohe- World's 2006 World Series of Poker (CC)
ESPN gan Sun Arena in Uncasville, Conn. (Live) (CC) Strongest Man
WT Daily Mass: Our Mother Angelica Live Classic Religious Cata- The Holy Rosary Threshold of Hope
EW N Lady Episodes logue
IT :00) Cardio Blaine's Low Blaine's Low NamasteYoga NamasteYoga Body Challenge
FIT TV Blast' (CC) Carb Kitchen Carb Kitchen .Stretching. (CC) lotus Link'
FOX-NC Fox Report- The O'Reilly Factor (Live) (CC) Hannity & Colmes (Live) (CC) On the Record With Greta Van
OX-N Shepard Smith Susteren (Live) (CC)
FSNFL :00)MLB Baseball St. Louis Cardinals at Florida Marlins. From Dolphin Stadium in Miami. Destination Wild TheFSN Final
SNFL Live) Score (Live).
GOL nsidethe PGA Best Ever Fore Inventors Only Fore Inventors Only
SN Camouflage DogEat Dog A (CC) Without Prejudice? A panel decides which contestant Camouflage
SN (CC) deserves a prize of $25,000. (N) (CC) (CC)
G Tech Attac of XPay X-Play Cop2.02.0 Co 2.0 Traffic NinjaWarrior Ninja Warrior
G4Tech he Showl (CC) stop. (CC)
(:00) Walker, Walker, Texas Ranger Walker sus- ** ROSE HILL (1997, Drama) Jennifer Gamer, Jeffrey D. Sams, Zak
HALL Texas Ranger pects foul play in the death of a Orth. Homeless New York boys rescue a baby and head West. (CC)
n (CC) high-school principal. A (CC)
Buy Me A couple Green Force Design Inc. A Sarah's House Take If Otside Urban Outsiders Designer Guys
HGTV is completely Casey House sofa sits alone. Kids bedrooms. (N) A (CC) Elegant back- Plainlounge
useless. Hospice. (CC) A (CC) A (CC) yard. (CC) area. A (CC)
INSP Morris.Cerulo Breakthrough Christ In Inspiration T" ife Today (CC) This Is Your Day The Gospel
(CC) Prophecy day'. (CC) Truth, .
eba Rebaques- My Wife and According t Accodng to Friends Ross Everybody Everybody
KTLA tions her deci- Kids 'Outbreak Jim"The Smell Jim Ches finds MaIel on a Loves Raymond Loves Raymond
sion. (CC) Monkey (CC) of Success" A mother visits. movie set A (CC) "Faux Pas A
Still Standing Side Order of Life"Pilot Jenny WHEN INNOCENCE IS LOST (1997, Drama) Jill Clayburgh, Keri Russell,
LIFE Brian'sfirst beer. gets a wake-up call when she lears Vincent Corazza. Attending college puts single mom in custody battle.
A (CC) of her best friend's illness. (CC)
'MSNBC I0Hardball Countdown With KeithOlber- MSNBC News Live MSNBCInvestigates"Lockup:
MSNBC C mann (Live) Louisiana" Louisiana.
NIC Ned'sDeclassi- Drake & Josh SpongeBob Funniest Home FullHouse (CC) Full House (CC) Full House A
field School 1A(CC) SquarePants A Videos (CC)
TV Canadian Idol Top 10. (N) aml Guy A g Brother 8 Houseguests partid- News (N) News
NTV Cp (N PA)(CC) pal ae in the veto meeting. (N) (CC)
SPEED Pinks Amercan Thun- Epic Ride (N) Epic Ride Epic Ride Pinks- All Out
oSPEED Ider(N) I__ d _____
S JordanRubin Behind the Joyce Meyer: John Hagee To BIIGaither (CC) Praise the Lord (CC)
TBN Scenes (CC) Enoyng Every- day (CC)
day Life (CC)
Everybody Everybody Everybody The Bill Engvall Everybody Everybody Everybody
TBS Loves Raymond Loves Raymond Loves Raymond Show Good Loves Raymond Loves Raymond Loves Raymond
Marital woes. A (CC) A (CC) People" (N) "Not So Fast" The Bird (CC) 'Jazz Records"
:00) Hard Shine American Chopper "ntel 1" The Miami Ink "Facing Changes" Film- Miami Ink "Garver Gets Commis-
TLC rainees com- team builds a custom chopper for themed family portrait; phoenix. signed" Garver agrees to create a
pete. Intel Corp. piece of art for a model home.
(:00) Law & Or- Law & Order 'Kid Pro Quo"An ul- Law & Order The Brotherhood" The Closer "Round File" An old
TN'I der Missing" A tra-elite private school's admissions Fontana and Green probe the death man confesses to murdering seven
(CC) (DVS) director is murdered. n of a prison gang member, people. (CC)
TOON Pokemon: Dia-XolinShow- CampLazlo Mi- Home for Imagi-Grim Adven- Courage the Naruto
T mmond and Pearl down A (CC) grating tree. nary Friends tures Cowardly Dog
TV5 :0)Toute une ONF,un survol L'Armee de I'ombre La parole est Un lagon en heritage Invit6 de mar-
TV5w histoire donnee aux jeunes laiss6s-pour-compte.____ .que
TWC Storm Stories Abram s & Bettes Weather: Evening Edition (CC)
River rapids.____________
(:00) Yo Amo a Amar sin Limites Un hombre lucha Destilando Amor Ver Para Creer
UNIV Juan Querend6n para salver a la mujer que ama.
(:00) Law & Or- Law & Order: Special Victims Unit Law & Order: Special Victims Unit *s FINAL DESTINATION 2
USA der: Criminal In- A missing 16-year-old girl is found in 'Conscience" A (CC) (2003, Horror) Ali Larter, A.J. Cook,
tent A (CC) a deserted building. (CC) Michael Landes. (CC)
VH1 Scott Baio Is Young, Rich and Out of Control World Series of Pop Culture(N) Rock of Love With Brat Michaels
VH 45... and Single A A Bret takes pictures. A
VS. 00WEC Cycling Tour de France Stage 9. From Val-d'lsere to Briancon, France.
(:00) America's Funniest Pets & Funniest Pets & Funniest Pets & Funniest Pets & WGN News at Nine (N) A (CC)
WGN Fnniest Home People (CC) People A (CC) People (CC) People A (CC)
Videos n (CC)
Everybody Gllmore Girls "'Farewell, My Pet' Beauty and the Geek Dewey Deci- CW11 News at Ten With Kalty
WPIX Loves Raymond Richard starts his recovery two days mal System. A (CC) Tong, Jim Watkins (N) (CC)
"Faux Pas after his bypass surgery. A
Jeopardy! (N) Dr. Phil (CC) News (N) Jeopardy! (CC) Frasier Frasier, Frasier Frasier
WSBK (cc) has a.midlife cn- wants a quiet
sis. A (CC) place to read.
SISTERHOOD ** MY SUPER EX-GIRLFRIEND (2006) Uma Thur- Ha and L Sports With Bryant Gumbel
HBO-E OF TRAVELING man. A superheroine takes revenge after her boyfriend the Order of the (N) A
PANTS breaks up with her. A 'PG-13' (CC) _Phoenlx
(5:00) *** John From Cincinnati "His Visit: Big Love "Rock and a Hard Place" Big Love "Vision Thing" Bill is
H BO-P SAVING PRI- Day Five" Butchie orchestrates a re- Rhonda threatens to blackmail Nic- drawn to an attractive waitress. A
VATE RYAN'R' union between Shaun and Tina. ki. A (CC) (CC)

(:00) ** RED EYE (2005, Sus- Hairspray: HBO *** THE SISTERHOOD OF THE TRAVELING PANTS (2005, Come-
HBO-W pense) Rachel McAdams, Cillian First Look= dy-Drama) Amber Tamblyn, Alexis Bledel, America Ferrera. Four teens
Murphy. A 'PG-13' (CC) (CC) keep in touch by passing along a pair of jeans. A 'PG' (CC)
(:15) * THIN (2006, Documentary) Women with V FOR VENDETTA (2006, Action) Natalie Portman, Hugo Weav-
H BO-S eating disorders undergo treatment in Florida. A 'NR' ing, Stephen Rea. A vigilante fights a fascist government. A 'R' (CC)
(6:30)*** %(:15) **s KING RALPH (1991, Comedy) John Goodman, Peter 0'- ** SHE'S THE MAN (2006)
MAX-E ABSOLUTE WIL- Toole, John Hurt. Regular guy from USA becomes king of England. A Amanda Bynes. A student poses as
SON (2006) 'PG' (CC) her twin brother. 'PG-13' (CC)
(6:20)* * s SUPERMAN RETURNS (2006, Adven- ** TAKE THE LEAD (2006, Musical) Antonio Banderas, Rob Brown,
MOMAX ture) Brandon Routh, Kate Bosworth. The Man of Steel Alfre Woodard. Dancer Pierre Dulaine teaches inner-city students. A
faces an old enemy. A 'PG-13' (CC) 'PG-13' (CC)
(:00) *** CRIMSON TIDE (1995, Suspense) Den- Meadowlands (iTV) Danny's han- *** SCREAM 2 (1997, Horror)
SHOW zel Washington. iTV. U.S. submarine officers clash diers frame Ormond.A (CC) David Arquette, Neve Campbell,
over orders to launch nukes. A 'R' (CC) Courteney Cox. iTV. A 'R' (CC)
S :00) *, THE SCARLET LETTER (1995, Drama) (:15) ** THE MAN IN THE IRON MASK (1998, Adventure) Leonardo
TMC Demi Moore, Gary Oldman. A married Puritan woman DiCaprio, Jeremy Irons, John Malkovich. Ex-musketeers attempt a blood-
has an affair with a minister. A 'R' (CC) less coup against their king. A 'PG-13' (CC)


Let Ch arlie the
BahcaimnicaI Puppet acnd
kis sidekick Derek pou l
soIe ss fillies on yor l
kids's fa ces.

Bring yom,' c ild ren to tl\e

M"cHioppy HoL c, a Of cDonlId's ii

A rllcvbolooLiqlx Sfteet every Tli v'sdov
froiC, 3:30p I to14:30pmi dLuiiL tfle

monfl of uLily 2007.

Enjoy Great Food, Prizes and Lots of Fun.

i'm lovin' it

* ..,,.


'.. .~.@

vie Gift Ceif

Make great gifts!


*It .1


Supermarket chain

to award $200k

in scholarships

BAHAMAS Supermarkets
Foundation, the charitable arm
of City Market' parent compa-
ny, will award $200,000 in
scholarships during a reception
honouring 39 recipients and
their families July 19 at Super-
Clubs Breezes.
: More than 150 persons are
expected to attend the event,
highlighted by an address by
Minister of Education,Youth,
Sports and Culture Carl
It is the 39th year that the
supermarket retailer has pre-
Aented awards, and this year's
contribution brings the total
funds to nearly $8 million
donated since the programme's
inception in 1968.
i Some 1,671 students, includ-
ing the country's first blind stu-
'dent to attend college abroad,
have benefited from Bahamas
Supermarkets Foundation
"Thirty-nine years, 39 stu-
dents, the numbers were just
coincidence," said Peter
Goudie, human resources man-
ager for the retail grocery
giant. "But there is no coinci-
4dence about Bahamas Super-
markets Limited's unwavering
commitment to education and
youth development. This year's
contributions, which represent
,an increase of 33 per cent over
last year's awards, are testa-
'ment to that.
"We at Bahamas Supermar-
kets are extremely pleased to
be able to assist, knowing that
these awards help build leaders
land good citizens of this coun-
Recipients will use their
$2,500 awards to study disci-
plines as diverse as economics
and aerospace engineering.
'Seven recipients listed bio-
Schemistry as their major, the
largest single subject ever
selected by a group of recipi-
Ten will use their awards to
;study at the College of the
Bahamas..Recipients, selected
from hundreds of applicants
hoping to secure one of the
sought-after scholarships, plan
to pursue majors including
;education, business, biology,
'law and psychology. Three
recipients have been nominat-
'ed by their Junior Achieve-
,ment clubs in Nassau, Grand
Bahama and Central Andros.
Past recipients include
regional tourism visionary
,CTO directof-general Vincent
'Vanderpool-Wallace, radio
personality and Kerzner vice
:president-for community affairs
Ed Fields, well-known phar-
Tmacist and entrepreneur Laura
,Charlton and Bahamas Cham-
,ber of Commerce executive
'director Philip Simon. Over the
:years, each has returned to
share their experiences, grati-
tude and advice with new
Recipients for the 2007-2008
academic year include:
*Chauncy Adderley,
Emma Adderley
Ryan Albury
Henricka Bain
Dwitney Bethel
Jermaine Bowleg
Donovan Curry
Tara Dames
Sasha Dorsett
SThurl Edwards
Renee Farquharson
Antonia Forbes
Cheyanne Harvey
Italia Hutchinson
Jeremy Jesubathan
Brittanie Kemp
Kevin Kemp
Travis Knowles
* Leslie Lopez Jr,
Miriam McDonald
Jamere Mclntosh
Javardo Mclntosh,
Anayah Miller
Sade Palmer
SEzzard Rolle
Cliffrielle Sands
Cameron Saunders
Stephanie Saunders
Wendy Saunders
Astra Simmons
Markira Stewart
Albrion Symonette
SShawn Thurston
e Joan Tucker
Elizabeth Williams
Jades Williams
: Patrieka Young
Khia Poitier has been select-
ed as the recipient of the Hal
Jackson Talented Teen
Baham supermarket Foun-
dation education award.

* KEN Burns speaking at a previous awards ceremony

* CARL Bethel will be attending the event

.. ..
Large Shipment of Usef.0Ca



New Shipments Arrved

Hurry, Hurry, Hurry and

Get Your First Choke'

For Easy Financing

Bank And Insurance

On Premises
Check Our Prices
Before buying

Bahamas Bus & Tukl"


8 Pieces Cickein,
2 Large Sides &
4 Biscuits

12 Pieces Chicken,
2 Large Sides &
6 Biscuits 23
We DoCice R igh.EeyTm. NSA


TUESDAY, JULY 17, 2007, PAGE 11


Baha Mar donates to Lyford Cay Foundation
BAHA MAR has donated $10,000 to the Lyford Cay Foundation in honour of its vice president of finance, Vaughn Roberts. Mr.
Roberts was a past recipient of a scholarship from the Foundation and was recently honoured as one of its Outstanding Top Schol-
ars. He is a Chartered Public Accountant who joined the Baha Mar family last year. His is a story of outstanding success and Baha
Mar's chairman, Sarkis Izmirlian, has said that he is very proud to have Mr. Roberts as a part of his team. Shown at the presentation
from left are: Mr. Roberts, Manuel J. Cutillas, Chairman Lyford Cay Foundation; Robert Sands, Vice President, Baha Mar/Cable Beach
Resorts, and Monique Hinsey, Director of Education, Lyford Cay Foundation.

(TCL Photo by Wendell Cleare)

NEWLY appointed Nobu General Manager Monique
Wszolek stands in the chic Japanese restaurant at Atlantis.
(Photo: Joshua Yentis/Blue Wave Imaging)

Atlantis appoints

new Bahamian

general manager

for Nobu restaurant

Monique Wszolek has been
appointed General Manager
of the upscale Japanese
restaurant Nobu at Atlantis.
In her new capacity Wszolek
will work closely with cele-
brated Japanese Chef
Nobuyuki "Nobu" Matsuhisa,
while managing a dynamic
team of 100 employees.
With almost 20 years of
food and beverage experience
under her belt, Wszolek takes
over the restaurant just after
16 months of joining Nobu as
a Lounge Manager.
Nobu at Atlantis is the first
Nobu outpost in the
Caribbean and thirteenth in
the world. Since opening its
doors in February last year
the restaurant has become a
hot spot for affluent travel-
ers, VIP's as well as local vis-
itors familiar with the Nobu
brand across America.
"It's a huge honour to work
for Nobu at Atlantis," com-
mented Wszolek on her
recent appointment. She con-
tinued, "we have excellent
servers and managers and we
all work together as a team."
Ensuring that the food con-
cept and fine Japanese cui-
sine of Nobu is always of a
superior quality will top the
list of Wszolek's goals as she
takes on her new position. At
the same time Monique, who
firmly believes that each
member of the restaurant's
team plays a vital role in their
overall success, plans to fur-
ther enhance the restauran-
t's excellent customer service
levels through on-going
training and development of
its employees as well as by
empowering them to make
suggestions 6n ways to fur-
ther improve the product. She
will also work closely with
newly appointed Restaurant
Manager Warren Curtis.
"The team at Nobu is real-
ly proud of the product that
we sell and the service that
we provide our very discrim-
inating travelers. Atlantis has
brought some very popular
restaurant concepts to the
Bahamas...and it is really
great that we now have
world-class restaurants at the
resort that both our interna-

tional and local patrons can
enjoy," Wszolek commented.
Monique takes over from
former Nobu General Man-
ager Perry Parrigin. She com.
mended Parrigin for his
strong leadership skills as well
as the quality time he invest
ed in preparing the mostly
Bahamian team of employ-
ees to take over the restau-
After successfully complet-
ing a Bachelor of Arts
Degree in Political Science
from the University of Toron-
to, Monique purchased a
restaurant in Canada which
she successfully operated for
several years. After deciding
that she needed a greater
challenge, she packed hef
bags and headed home to thl
Bahamas. Several months latt
er, when the position for 0
Restaurant Manager at Nobs
became available, she applied
and subsequently joined the
Kerzner team.
Her prior work experience
has included managing the
Campus Beverage Service at
the University of Toronto as
well as serving as Operations
Manager at Ristorante Vil-
laggio in Nassau, The
Wszolek also obtained a
Hospitality and Accounting.
Certificate from Georg Brown College in 2001 as well
as completing French Lan-
guage courses at the Alliance.
Located off the Atlanti
Casino, Nobu is the signature'*
restaurant of The Royal Tow-:
ers and serves dinner nightly
while the sushi bar and the
lounge stay open later foi
guests who savour the
nightlife. Guests are able td6
order from the menu or havi
their waiter guide them
through Omakase Chefif
Choice. -,
The multi course Omakase,
allows diners to experience
the essence of Nobu's cuisine:
The stunning, 7,100-squaro.
foot space was designed by
the Rockwell Group, using
traditional and modern
Japanese elements and inspi-
For reservations, call (242)


PAGE 12, TUESDAY, JULY 17, 2007


TUESDAY, JULY 17, 2007


biness@tibuneedi.et Miami Herald Business, Stocks, Analysis, Wall Street


'We should not

have approved Bimini Bay'

* Senior FNMsays first Ingraham administration should not have given nod to

resort because of disproportionate size, but 'hindsight is always 20/20'

Government moving away from 'anchor resorts' to make

sure development fits into Family Island communities

Minister says Pinnacle casino at Four Seasons Emerald bay not taken '

off as planned, questioning need for such facilities in Family Islands

.An FNM Cabinet min-
ister has admitted
that the first Ingra-
ham administration
should not have
approved the controversial Bimini
Bay Resort & Casino. given its dis-
proportionate size to the island's com-
munity and infrastructure, but said:
"Hindsight is always 2(0/20."
Both Tommy Turnquest, former
FNM leader and minister of national
security, and a fellow minister told
The Tribune that future large scale
'anchor resort projects' in the Family
Islands needed to be reevaluated in
an effort to preserve island commu-
)- nities.

In an interview with The Tribune,
Mr Turnquest admitted that approv-
ing the initial size of the 700-acre
Bimini Bay development on a seven
mile-long island may have been a
mistake under the first FNM admin-
The Bimini Bay project, which is
being spearheaded by Miami-based
developer, the Capo Group, has con-
tinued to spark protests from Bahami-
an and international environmental-
ists, as well as Biminites, who were
concerned about possible negative
repercussions that the $75 million dol-
lar development would have on the
small island community.
Their complaints have continued,
despite the Christie administration
renegotiating the project's Heads of


Agreement to reduce it in size. The
developers, led by Cuban-American
property entrepreneur Gerardo Capo,
have repeatedly countered all criti-
cism by insisting they are doing every-
thing they can to preserve the envi-
"Bimini Bay started under the
FNM. It was a development that, I
think, we would readily admit that
the size that we approved was not
appropriate to the community on
Bimini [or] the ecosystem at Bimini,"
said Mr Turnquest.
"Hindsight is always 20/20, and so
we ought to have scaled that back in
terms of the size of the development.
But, again, all of that comes with
experience, and unfortunately you
don't always have that benefit of hind-

sight when you're faced with some-
thing at the beginning."
Learning from the mistakes of his
.party and the former PLP adminis-
tration, particularly when it comes to
addressing the specific needs of each
Family Island when it comes to invest-
ments, Mr Turnquest was optimistic
that in future his party will, in gov-
ernment, fully evaluate these.con-
"The former government talked .
about these 'anchor' projects, but
what does that mean? Did they show
what it means in terms of are you pro-
viding the infrastructure; are you tak-
ing care of the housing [for employ-

SEE page 10

Bids up to $500m for BORCO Bank owed $683,000 by
1 .1 J ' * '. *-*.. 1 1 1 1 1** < **'

Tribune Business Editor
BIDDERS seeking to acquire the
Bahamas Oil Refining Company Interna-
tional (BORCO) submitted bids as high as
$500 million in the initial round, sources
close to the process have told The Tri-
bune, with its parent company having

already selected those who have qualified
for the final round.
The final bidding round is due to close in
August 2007, and initial offers are under-
stood to have ranged between $150 rmllion
and $500 million, with the higher-priced
bids understood to include the costs of
any environmental clean-up and capital
expenditure maintenance to upgrade

-BORCO's tanks, jetties and pipes.
The Venezuelan state-owned oil com-
pany. PDVSA, which in turn owns BOR-
CO, is likely to select a winning bidder
from the finalists by the end of August,
aided by Citigroup's investment banking

SEE page 9

Vhy settle for an ordinary mortgage?

Switch today

S& get money back!

Fidelity MoneyBack Mortgage

^bundle and save a bundle! Wegiv yo a moniTwthly reat ad nvstitfo

C o ditn. a. p l

0 0- 0 0*


.* .> .f . .. 0 .. .

: -a ** *3 .* 0
Nassau.t. 35 .774 Fepot 5.666 M rhHrou:t3733
^^^^^^^^^^^^^^^^^^^^^^^^^^R -_ - -_^^^^^^^^^^^^^mHa~iK~in!^

Bahamas card holders

Tribune Business Editor
FORMER Bahamas-based
credit card customers of Lead-
enhall Bank & Trust still owe
almost $683,000 in unpaid
debts, the bank's liquidator
saying he has been unable "to
recovery any substantial
amount", with the institution
once again facing a potential
$33o million damages claim.
In his latest report to the
Bahamas Supreme Court,
Craig 'Tony' Gomez said some
98 Bahamas-based former
MasterCard clients of Leaden-
hall had still failed to repay
their debts, despite him con-
tacting 60 per cent of those
Leadenhall held the Master-
Card issuing licence for the
credit card portfolio, which was
administered by then-Bahamas
based Axxess International,
which shared some directors

US court exposes
Leadenhall to
potential multi-
million dollar
class action case
and shareholders with Lead-
Mr Gomez reported to the
court: "I have made contact
with approximately 60 per cent
of the persons who held credit
cards with Axxess, and was not
successful in this effort to
recover any substantial
The 98 Bahamas-based card
holders account for some 52.3
per cent ($682.830) of the total

SEE page 6

0 OLD FORT BAY #3815 Elegant waterfront home sits high above
the Bay of Old Fort with stunning beach and ocean views. Charming
architectural details, 3 bedrooms 3V baths, exotic ambience,Tuscan-
style kitchen with granite countertops and stainless steel appliances.
Travertine and wood floors, outdoor patio with full covered bar pool
and'waterfall. Private courtyard, 40KW generator $2,950,000.
Richard.Sawyer@SothebysRealty.com 242.424.9792

* Damianos


SIRbahamas.com t 242.322.2305 f 242.322.2033




Tel: (242) 356-7764
Tel: (242) 351-3010


- I

Security & General

Security & General, a subsidiary of Colonial Group International LUmited (COIL)
headquartered in Bermuda, is seeking a Property and Casualty (P&C) Business relationship
Underwriting Executive.

CGIL, with offices n Bermuda, the Bahamas, the Cayman Islands, and the British Virgin
Islands, offers a complete range of premier financial and insurance services and, over the
past few years, has undertaken significant growth. This is an opportunity to be part of a
rapidly growing innovative company, focusing on providing clients with first clam service
and access to competitive products.
The individual will be responsible for busmess development and servicing and maintaining.
existing business. Responsibilities will include, but not be limited to:

+ Establishing and maintaining relationships with significant business partners
+ Retaining and acquiring profitable business by providing quality customer
+ Undertaking market research and maintaining currency with local developments
Maintaining a high level of product knowledge
Preparing monthly reports as required

The successful candidate should possess the following minimum requirements:

4 A professional insurance qualification (i.e. ACII or CPCU), or proven progress
towards its completion
* A minimum of 5 years relevant work experience in Property and Casualty
insurance and a proven sales track record with P&C products
Superior communication, interpersonal and organizational skills
Proven ability to negotiate with external business partners and clients and work
under pressure
In-depth knowledge of policy wording
t Proficiency in MS Word, Excel and e-mail software
Compensation is based on performance and production. Security & General offers an
attractive benefits package that includes comprehensive medical insurance, contributory
pension plan, long-term disability and life insurance coverage.
If you have a keen commitment to quality results and want to contribute your talents to a
dynamic company, contact us about this opportunity. Applications will be treated in the
strictest confidence and should be made in writing to:

Security & General Insurance Company, Ltd.
Attn: Human Resource Manager
P.O. Box N-3540
Nassau, Bahamas
by Pax to 356-9049 (private fax number)

Closing date for applications is July 31 *.

n1 British




* Wills & Estate Planning
* Financial Planhing & Investments
* The Dreams Investment Group for Women
* Mortgage do's and don't's
* Protecting Against Dying Too Soon or Living Too Long
* Healthy Lifestyles for a Healthy Bahamas
* Preserving our Environment Bahamas National Trust
* Improving your Life with Technology
* Kids & Teenagers Activities

PLUS Free Cholesterol & Blood Sugar/PressureTesting

To Register call 461 1000.
Space is limited.



looms large

In recent times, the press
has carried various arti-
cles advocating the
need for pension legis-
lation in the Bahamas. For
many years now I have been
arguing the need for the
Bahamas to adopt such legis-
lation. In the UK, the Labour
Party in its 2005 Manifesto
defined its objective to mod-
ernise its pension legislative
regime as follows: "Our aim is
a system that provides decency
for all, which encourages and
rewards savings, and is finan-
cially sustainable"...and: "to
provide everyone with the
opportunity to build an ade-
quate retirement income, and
be affordable, fair and simple
to understand." I do not think
the case could be put more suc-
Multi-pillar approach to
pension systems
It is widely accepted that a
sustainable long-term
approach to pension funding
should consist of three inter-
connected pillars: social secu-
rity (National Insurance), pen-
sion savings and personal sav-
ings. While countries are seek-

A.R Focus

ing to fortify the integrity of
these pillars within their
economies, supported by
appropriate legislation, we in
the Bahamas are seemingly
doing nothing.
Economic insecurity among
the retired/elderly is a univer-
sal problem, which has far-
reaching consequences if not
addressed. The most obvious
potential outcome is that the
public finances may not be sus-
tainable if too large a percent-
age of national budgets have
to be directed towards provid-
ing 'social safety nets'.,
Countries are being forced
to focus on managing the huge
financial burden being placed
upon their future budgets by
the need to finance social secu-
rity systems, with many
responding by passing legisla-
tion that actually reduces
future social security benefits.
Examples include: United
States, 1983; Japan 1985 and

,TU Today's
-;.. Retiree .u.
Security 44% 20% -24%
Employers Pension
Plans 20% 14% 6%

firegpal Savings &



1994; United Kingdom 1980
and 1986;, Germany 1989;
France 1993; Italy 1993; and
Sweden 1994.
Thus, efforts must be taken
to ensure that future genera-
tions are not only covered by
private pension schemes and
a greater level of long-term
personal savings, but that this
also represents a growing share
of their total retirement
A recent study conducted by
Morningstar, a US-based
research company, revealed
the following results (see the
table below) when it examined
the change in sources of retire-
ment funding when comparing
.today's retirees and today's
workers who will retire in the
These results are nothing
short of startling. The amounts
coming from Social Security
and Employer Pension Plans
declined by 24 per cent and 6
per cent respectively, while the
amounts required from per-
sonal savings increased by a
whopping 30 per cent.
This does not bode well for
the Bahamas, where it is a
well-known fact that the aver-
age National Insurance pen-
sion payment is under $300 per
month. It is further known that
less than 25 per cent of the -
Bahamian workforce is cov-
ered by a pension scheme,
while Bahamians are notori-
ous for their inadequate level
or complete lack of savings.
When it comes to long-term
S...,,, . -
SEE page,8 -



Director, Corporate Banking -
Bahamas OPCO
Graduate status with minimum of 7 years experience in the
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 the corporate and commercial markets in the Bahamas
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:
FirstCaribbean International Bank (Bahamas) Limited thanks all applicants for
their Interest, however only those under consideration will be contacted.



*t '



he iami eralb TUESDAY, JULY 17,2007


hSas yet to ap in; a:

,;. o ne.e. zn
K f'b -i. -
sombe oated- $160 bi.io .

,Loei'^ said g

. "se. : A

SStatidard &'6Poor's v04ide

.,, Ltfaa]fiiD^B^6f55.1;0,to ppl
when: t hein.lesti g

"Declii ing .i'uu

^'trude futures t6$e 22 fents to *
( $74.15 on the New Ydiatk:er
.anle Exchangr. Qil.

sed ^aboe that ;lel ye

for in
stocks Mony Verio ^
$LO,or 2.4 peret, t$4
Hordne g fell 3t' H ent Inde
FTSE 100'fell 0. 8 percent, e:
many's DAX index .roshe ..16

oftbn-volatile than ghLCn e.
.. l4eS1 on 'fNew
.' U

Frs rodi 6.8 "


MORE AFFORDABLE: Hundreds of people enjoy a sunny day at Old Orchard Beach, Maine, which has
long been a haven for Canadian tourists. But, this year business owners say there are more than
ever before. Below, the Canadian flag flies outside of a condo complex in Old Orchard Beach.



Associated Press

OLD ORCHARD BEACH, Maine Hotels here fly Canadian flags
alongside the Stars and Stripes. Desk workers speak French, in
addition to English. Fries are served up Canadian-style, topped with
vinegar, or gravy and cheese.

Old Orchard has long been a
haven for Canadian tourists
because the seven-mile stretch of
sandy beach represents an easy
drive from Quebec.
This summer, there are more of
them as the soaring Canadian dol-
lar makes it more affordable for
Canadians to vacation in the
United States, enticing more peo-
ple to get into their cars despite
the hassle of long waits at border
"They say there are more Cana-
dians than ever before. It's good
for everyone," said Claire Beau-
lieu, an owner of the Motel Kebec
2, a stone's throw.from the beach,
where on a recent morning every
car in the parking lot had Quebec
license plates.
Last summer, Canadian tourists
probably thought it couldn't get
any better after the loonie, the
Canadian dollar named after the
loon in the back of the coin,
reached a 28-year high against the
greenback. That meant they could
trade in their loonies for 90 U.S.
Since then, the Canadian dollar
has grown even stronger. Today,
the loonie and greenback are
nearly equal, with a loonie being

worth about 95 cents.
It's a dramatic change from five
Years earlietlwhen the loonie was
worth 62 cents in the United
States. Canadian travel to the U.S.
has grown 23 percent since then,
according to data published by the
Commerce Department.
"These are some of the best
days for Canadian tourists who
wish to travel south of the border
for their summer vacation since
bellbottom jeans and disco balls
were all the rage," said Michael
Woolfolk of the Bank of New York
Mellon Corp.
And Canadians should get used
to it. The trend is expected to con-
tinue for several years, said Wool-
folk, a senior currency strategist.
Some Canadian banks have had
to dip into their reserves after run-
ning out of greenbacks as Canadi-
ans cash in their loonies for trips
to the U.S., said Manny Witt,
director of the New England Tour-
ism Office in Montreal.
Julie Arseneault of Rose Mere,
Quebec, said she and her husband
decided to drive to Maine with
their 5- and 2-year-old children
instead of taking a flying vacation
because of the strength of the
Canadian dollar, as well as cheaper

gas in the United States. Gas is
roughly $1-a-gallon more expen-
sive in Canada than in the U.S. 1
"That's why we came this
year," Arseneault said as she
unloaded her sport utility vehicle
packed with luggage and toys out-
side the Royal Anchor Resort.
Canadians like the Arsenaults
used to come in Jarge numbers,
but some of them stopped coming
when the value of the Canadian
dollar dropped. L.pst year, many in
the tourism industry noticed that
the trend had shifted again.
Bud Harmon, executive direc-
tor of the local chamber of com-
merce, said half of the visitors this
summer are from Canada like it
was 20 years ago.
"They're all coming back. We
have more Canadians this year -
more and more," said Lorraine
Bureau, who works at the Royal
Anchor Resort.


IHOP agrees

to purchase


chain in

$1.9B deal
Associated Press
Stewart has been making bold moves to
revitalize the 45-year-old chain best
known for its breakfast fare and blue-
tiled roofs. With a $L9 billion bid for the
bar-and-grill chain Applebee's made on
Monday, she may be taking her biggest
risk yet
The move comes as Wall Street ana-
lysts anticipate a difficult second-quar-
ter earnings season in the restaurant
sector as soaring commodity costs hurt
profits and consumers worried over
high gas prices ate out less frequently.
Combined, the company would have
3,250 restaurants and $6.8 billion in
annual sales.
Stewart, a former Applebee's Inter-
national executive, said once the deal
closes, IHOP would revive the Apple-
bee's brand and increase its emphasis
on franchises by selling most of the 508
company-owned stores at a rate of 40
per quarter, a process that could take
until 2010 to complete. In doing so, the
company would reduce the percentage
of company-owned stores to 5 percent
from the current 25 percent, a transfor-
mation similar to the one she led at
IHOP beginning in 2003.
"It's a great brand, it just needs to be
revitalized," Stewart said on a confer-
'ence call Monday. "We will fundamen- -
tally change the company's business
model, moving it nearly completely out
of the role of owner-operator."
The changes, which are expected to
cut costs by $50 million a year by 2011,
reduce the company's risks in owning
. eal estate, a strategy also taken by hotel
companies to stabilize profit growth.
From May 2002, the month Stewart
took over as CEO, IHOP's share price is
up roughly 75 percent. It closed May 1,
2002, at $35.25 and has since risen to the
low $60s.
"She woke them up to a certain
degree," Oppenheimer analyst Michael
Smith said of IHOP. "It was a well-rec-
ognized brand name. It just needed
somebody to slap it around a'bit."
Under the deal, IHOP will pay $25.50
per share for Applebee's, a 4.6 percent
premium over its closing price on Fri-
Applebee's shares rose 53 cents, or
2.2 percent, to $24.91 in trading Monday.
In an unusual move for the shares of a
buyer, IHOP stock gained even more,
rising $4.99, or 8.9 percent, to $61.24
after briefly reaching a new 52-week
high of $6339.
Applebee's, based in Overland Park,
Kan., has 1,943 restaurants worldwide.


Royal Bank of Scotland

leads $98B Amro rebid

Associated Press
AMSTERDAM, Netherlands A
trio of banks led by Royal Bank of
Scotland said Monday it would rebid
$97.8 billion for ABN Amro Holding,
as the group went on the offensive in
the largest takeover battle in the his-
tory of the financial industry.
The proposed bid of $52.87 per
share, mostly in cash, would be worth
at least 10 percent more than an all-
share rival bid by Barclays, RBS and
its partners said.
Analysts from Bear Stearns said
the offer may end Barclays' chances
of winning ABN.
"Barclays can't raise its offer to get
near the consortium's level, can't
match the cash component," and the
consortium could raise the bid again
if it needed, they said.
"Barclays should walk away," they
said, adding that at this point Bar-
clays' share price would probably
benefit from losing the fight.
ABN Amro shares opened 3.4 per-
cent higher at $51.05 in Amsterdam,
closer to the RBS-group bid than the
Barclays' bid. Barclays' shares gained
2.3 percent in London to $15.08. RBS
shares gained I percent to $1316.
The RBS group offer is almost

unchanged from an earlier bid, even
though ABN Amro last week won
permission from the Dutch Supreme
Court to sell Chicago-based LaSalle
Bank to Bank of America for $21 bil-
lion. That sale was widely seen as a
poison pill for RBS, which also
wanted LaSalle, and advantageous to
a merger with Barclays, which had
the support of ABN Amro's manage-
The RBS group made its first bid
dependent on LaSalle remaining with
ABN, but dropped that condition
now that the LaSalle sale to BofA is
"The banks will remove precondi-
tions and conditions relating directly
to the LaSalle situation," RBS, Fortis
NV of Belgium and Banco Santander
Central Hispano said in a statement.
"The acquisition of the ABN Amro
businesses remains compelling from
a financial point of view, as evi-
denced by the fact that it produces
essentially the same earnings
enhancement for the group, despite
the smaller size of the transaction,"
RBS CEO Fred Goodwin said.
Even without LaSalle, RBS is inter-
ested in ABN Amro's investment-
banking operations and the rest of its
global operations unclaimed by For-

LEADING THE WAY: A man walks past a Royal Bank of Scotland logo in
the entrance hall of the firm's offices in London.

tis or Santander.
Fortis wants ABN's Dutch arm,
while Santander wants its Italian and
Brazilian operations.
The three said they "have received
assurances from ABN Amro that
their proposed offer will be dealt
with on a level playing field" in
other words, that ABN will no longer
attempt to prefer the Barclays bid.
Barclays CEO John Varley
responded that the consortium's
offer will "still face considerable reg-
ulatory and shareholder hurdles."
Both Barclays and the consortium
have been working closely with

Dutch regulators and claim to have
made good progress toward
"Our offer would produce better
long-term value for ABN Amro
shareholders because the resulting
combination will deliver excellent
growth and ABN Amro shareholders
will participate from the upside of
that growth," Varley said.
However, Barclays has already
heard complaints from its own share-
holders who are afraid the bank will
overpay for ABN. Varley hinted
Monday he doesn't have much room
to take the bidding higher.

1. ,


&0 NO

S&P 500 NASDAQ DOW +43.73 6-MO T-BILLS +.01 30-YR T-BONDS V -.07 GOLD 4W -.80 EURO -.0005 CRUDE OIL +.22
1,549.52 2-9 2,697.33 "-9 13,950.98 4.86% 5.12% $665.00 1.3784 $74.15


aiM miHerald com I TH D

DOW 13989.11 13894.98 13950.98 +43.73 +0.31%
DOW Trans. 5423.75 5355.89 5378.68 +9.00 +0.17%
DOW Util. 515.29 507.03 507.43 -8.07 -1.57%
NYSE Comp. 10231.82 10169.31 10188.18 -32.49 -032%
NASDAQ 2712.13 2693.71 269733 -9.67 -036%
S&P 500 1555.90 1546.69 1549.52 -2.98 -0.19%
S&P 400 926.23 918.98 920.21 -6.02 -0.65%
Russell 2000 855.50 846.88 848.47 -7.30 -0.85%
Wilshire 5000 15730.39 15630.87 15655.13 -45.82 -0.29%


Name ast Chg Name Last Chg Name Last Chg
ABB Ltd 24.75 -.07 BostProp 105.12 -1.08 eBay 34.39 +.44
ABN Amro 51.03 +.53 BostonSci 15.50 +.09 EMC Cp 19.13 -.06
ACE Ltd 61.75 -.02 BrMySq 32.10 +.04 ENI 77.44 -.39
AES Corp 22.26 -.13 BritATob 68.23 +.06 EOG Res 73.05 -1.86
AFLAC 52.40 -.08 BritSky 58.20 -.04 EKodak 28.52 -.06
AMR 27.50 +.22 Broadcom. 32.41 +.01 Eaton 100.87 +2.77
ASMLHId 28.63 -.01 BrkfldAsgs 40.28 -.78 EchoStar 43.92 -.14
AT&T Inc 40.21 -.19 BrkfldPr s 24.15 -.16 Ecolab 43.74 -.06
AU Optron 16.96 -.53 BungeLt 84.96 +.26 Edisonint 57.62 -.59
AXA 44.87 -.09 BuriNSF 89.56 +.88 Edwards 85.89 -.47
AbtLab 53.56 +.32 CA Inc 26.19 +.19 EIPasoCp 17.54 -.23
AberFitc 73.15 -1.19 CB REIlis 40.96 -.17 Elan 21.60 -.26
Accenture 42.50 +.19 CBS B 34.87 +.32 ElectArts 48.09 -.16
AdobeSy 41.06 -.12 CDW Corp 85.55 +.46 EDS 28.37 -.20
AMD 15.72 +.29 CGG Verit 53.66 -1.08 Embarq 63.98 +.09
AdvSemi 7.23 +.08 CH Robins 53.27 +.99 EmersnEl s 50.22 +.41
Advantst rs 44.44 -.10 CIGNA s 53.91 +.02 EEIChile 46.05 +.10
Aegon 19.65 -.03 CIT Gp 55.19 +31 Enbridge 35.10 -.41
Aetna 50.01 -.90 CME Grp 586.30 +1.80 EnCana 62.83 -1.28
Agllent 39.84 -.12 CNA Fn 47.94 -.16 Endesa 54.15 -.07
Ahold 13.40 -.08 CNH Gbl 55.57 +.48 Enel 54.86 +.40
AFrance 46.64 -.06 CNOOC 119.94 -.24 EngyTEq 41.03 -.08
AirProd 87.49 +.64 CPFL En 63.15 -.98 EngyTsfr 62.87 -.17
AkamaiT 48.92 -138 CRH 5139 +.15 Enersis 19.20 +.05
Akzo 87.78 +.12 CSX s 48.75 +.52 EnhEqYP 18.70 -25.
Alcan 96.94 -.56 CVS Care 36.19 -.17 ENSCO 60.86 -.67
AlcatelLuc 14.24 +.18 CablvsnNY 37.62 -.61 Entergy 107.91 -234
Alcoa 46.77 -58 CadbyS 53.36 -.41 EntPrPt 33.18 -.15
Alcon 143.38 +39 Cameco gs 48.49 -2.16 EqtRes 50.98 -1.11
AIIgEngy 55.10 -.77 Cameron 76.67 -1.06 EqtyRsd 46.67 -.08
AllegTch 113.81 -1.16 CampSp 38.80 -.46 EricsnTI 42.00 -.41
Allergan s 58.30 -.13 CIBC g 93.99 +.38 EsteeLdr 47.06 -.05
AlliBern 89.87 +32 CdnNRy g 54.66 EverestRe 113.56 +1.11
Allanz 24.00 +.13 CdnNRsg 69.99 -.78 Exelon 77.04 -1.12
Aldirlsh 56.39 +38 CP Rwy g 75.15 +1.38 Expedia 29.50 -.14
Allstate 60.76 -.29 Canons 58.68 -.17 Expdinti 45.90 +.19
AlItel 67.85 +.45 CapOne 76.20 +.85 ExpScrip s 53.88 -.24
AlteraCp if 2430 -.07 CardnlHith 70.91 +.56 ExxonMbI 89.70 -.63
Altria s 7131 -39 Carnival 47.71 -.02 FPL Grp 57.49 +.03
Alumina 30.42 +.51 CamUK 46.90 -21 FannieM If 65.54 -.19
AlChina s 47.75 +.18 CaroiinaGp 79.08 -1.17 Fastenal 48.7 +1.25
AmBevC 74.00 -.80 Caterpillar 85.90 +.77 FedExCp 115.64 -1.61
AmBev 7434 -.64 Celanese 41.92 -.06 Fiat 32.21 -.23
Amazon 73.69 -1.41 Celgene 5832 -.88 FidNinfo 57.67 +.73
AmbacF 85.48 +.03 Cemex s 36.05 -1.24 FifthThird 40.50 -.29
Amdocs 39.25 -.59 Cemigpfs 21.76 -.53 FirstData s 32.55 +.05
Ameren 50.04 -.85 ChesEng 35.80 -52 FstSolar n 112.05 -3.92
AMovlIL 64.87 -.42 Chevron 92.12 -1.21 FTSpcFn n 19.76 -.15
AMovilA 65.00 -.09 ChinaLfe s 59.06 -.65 FirstEngy 65.94 -1.51
AmCapStr 45.80 -23 ChinaMble 58.09 -.60 Fiserv 56.80 -.29
AEP 45.29 -1.08 ChInaNet 55.08 -1.03 Flextrnm 1127 +.19
AmExp 6188 -.95 ChinaPet 112.94 -2.12 Fluor 119.74 -.71
AmlntGp If 69.79 +.24 ChinaTel 59.99 -1.42 FEMSA s 39.53- +.24
AmStand 61.20 +.11 ChinaUni 17.54 -.07 FordM 8.86 -.11
"AmTower 44.03 -39 Chubb 53.15 -.66 ForestLab 46.63 +.18
Ameriprise 65.49 -.59 ChungTel 19.17 -.05 FortuneBr 82.97 -.12
AmeriBrg 49.79 -37 CinnFin 43.91 +21 FosterWh 118.79 -1.46
Amgen 56.03 -.90 Cintas 40.43 -.47 FranceTel 28.48 -.13
Amphenol s 37.07 -23 Cisco 29.89 FrankRes 140.72 +.49
Anadarko' 52.32 -.10 Citigrp 52.19 -33 FredMac 6130 -.06
AnalogDev 39.26 -37 CitrixSy If 34.79 +37 FMCG 92.94 -130
AngloAm 31.97 -35 ClearChan .37.81 -.02 FresenM 4633 +.49
AnglogldA 42.87 -26 ClearCh 28.46 +.11 Fujifilm 43.50 -.13
Anheusr 50.79 -.03 Clorox 63.01 +.06 GameStops 42.07 +.07
Aon Corp 41.64 +.05 Coach 48.84 -1.00 Gannett 54.9t -.44
Apache 85.66 -.53 CocaCE 24.21 -.14 Gap 18.91 +35
ApolloGrp 62.50 -.28 CCFemsa 4739 +.66 Garmin s 82.74 +.46
Apple Inc 138.10 +37 CCHellen 47.08 -.08 Genentch 75.19 -31
ApIdMatI 20.62 +.14 CocaCI 53.85 +.74 GenDynam 79.75 -23,
ArcelorMit 66.45 -.74 CogTech 85.68 -.50 GenElec 40.12 +.62
ArchDan 36.48 .-.12 ColgPal 68.19 -.26 GnGrthPrp 52.72 -.68
ArchstnSm 5933 -.10 Comcast s 27.64 -33 GenMills 58.68 -.51
Assurant 58.80 -.51 Comcsp s 27.48 -23 GnMotr 36.67 -36
AstraZen 56.16 +.05 Comerica 60.77 +.51 GenuPrt 50.46 +.05
Autodesk 47.03' +.03 CmcBNJ 37.99 -.58 Genworth 34.26 -.07
AutoData 49.13 +.15 CVRD 50.76 -1.18 Genzyme 6033 +.07
AutoZone 135.15 -.73 CVRD pf 43.08 -1.18 Gerdau 2725 -30
AvalonBay 121.85 -.88 CompsBc 7038 +32 GileadSci s 39.62 -34
Avaya 17.02 +.01 CompSci 60.25 +.09 GlaxoSKIn 5339 +.85
AveryD 67.85 -.48 ConAgra 27.00 -.20 GlobalSFe 72.07 -.98
Avon 38.85 -24 ConocPhil 87.13 -3.04 GoldFLtd 17.42 +.26
AXIS Cap 4032 -35 ConsolEngy 48.61 -1.44 Goldcrp g 26.04 -.50
BASF 136.38 -.47 ConEd 45.47. -.62 GoldmanS 220.40 -1.78
BB&TCp 41.15 -.02 ConstellEn 92.54 -1.67 Goodrich 61.57 -.10
BCE g 39.12 -25 Coopers 58.63 +30 Goodyear 35.68 -35
BG Grp 86.82 -2.18 Coming 26.92 -.13 Google 552.99 +.83
BHP BilILt 66.76 -120 Costco 61.85 -1.13 Graingr 94.33 -4.12
BHPBil plc 61.84 -.93 CntwdFn 34.84 -1.42 GrantPrde 55.52 -132
BJ Svcs 27.82 -.45 CoventryH 59.54 +.41 -GpoSimec 14.39 +.04
BP PLC 73.94 -1.07 Covidienn 44.30 +30 GpTelevisa 28.03 -.69
BT Grp 68.20 +1.12 CredSuiss 73.88 -.12 HDFC Bk 92.64 -38
BakrHu 81.88 -2.12 CrwnCstle 38.04 +.05 HSBC 93.31 +.16
BcBiIVArg 25.21 +20 Cummins s 117.96 -.69 Hallibtn s 35.43 -.08
BcBrades s 27.60 +39 DJIA Diam 139.46 +.55 Hanson 110.02 -.45
Bncoltau 49.49 +.69 DR Horton 20.01 -.42 HarleyD 61.63 -.85
BcoSnCH 19.54 +.03 DTE 50.33 -.57 Harman 117.10 -.40
BcSanChile 49.29 +.09 DalmlrC 94.94 -31 HarrahE 85.65 +.03
BkofAm 49.62 +.12 Danaher 78.69 +.54 HarrisCorp 57.07 -.33
Bkldreind 83.54 +1.00 Darden 44.52 -.32 HartfdFn 97.58 -.82
BkMontg 66.43 +.10 Dassault 63.62 -.46 Heinz 46.59 -.71
BkNYMel 45.86 -28 Deere 131.60 +.52 HellnTel 15.88 -31
BkNova g 4958 -.08 Delhaize 102.97 +1.78 Hershey 50.55 -.55
Barclay 5924 -.01 Dell Inc If 28.95 +.13 Hertz n 25.46 +.17
Bard 83.44 -.95 DeutschBk 148.63 +.21 *Hess 65.71 -.41
BarrickG 31.87 -.16 DeutTel 18.70 -.03 HewlettP 47.44 +.19
Baxter 58.78 +.23 DevDv 53.74 -.59 Hilton 45.07 -.18
BayerAG 7831 +.47 DevonE 79.15 -.87 Hitachi 71.69 -.21
BearSt 14031 -2.58 Diageo 85.67 -.06 HomeDp 40.58 -.29
BectDck 7534 -.75 DiaOffs 103.31 -1.21 Honda 37.53 -.04
BedBath 35.99 -27 DirecTV 24.94 Honwillnti 60.60 +.46
BerkHa A 110560 -150 Discover n 26.84 -32 Hospira 40.83 +.08
BerkH B 3654 -24 DiscHoldA 25.46 +1.51 HostHotis 24.51 -31
BestBuy 47.17 -.18 Disney 34.47 +.10 HuanPwr 46.93 -1.02
Biogenldc 55.34 -.58 DomRes 88.37 -.23 HudsCity 12.04 -.06
Blomet 45.44 -.18 DonlleyRR 44.67 -.02 Humana 62.77 +1.69
BlackD 95.00 -21 Dover 54.00 +.77 IAC Inter 33.04 -.49
BlackRock 167.07 -1.78 DowChm 46.18 -.15 ICICI Bk 52.63 -30
BIEnhGvIn 18.40 -.08 DuPont 52.00 +.45 IMS HIth 32.71 -.16
BIkFItRtlnc 18.51 -.06 DukeEgys 18.02 -28 ING 45.52 +.15
Blackstn n 29.69 -.16 DunBrad 106.63 +.85 IShJapan 14.75 -.03
BlockHR 22.50 +.12 ETrade 22.99 -.10 iShDJDv 73.07 -.28
Boeing 102.07 +.19 LEON AG 56.88 -.46 iShSP500 155.05 -.05

Name Last Chg
EastemPlat 2.53 -.09
WestjetAir 1635 +25
VaaldiamReso 1.00 +.07
BombdrBSV 6.72 +.08
Royal Bnk 57.52 -30
WstemOilIA 36.15 -.76
NortelNetwork 2425 -.45
ShoppersDrug 50.11 +.03

Name Last Cg
UraniumOneo 14.79 -.61
ChariotReso 1.26 -.01
TalismanEgy 20.82 -.56
TeckComBSV 50.97 -1.12
FarallonReso .87 +.02
Alcan Inc 100.91 -1.43
EqnoxMnriso 439 -.21
CdnOilSndsT 32.75 -.90

A A A +11.94%
A A A +17.95%
A A A +11.09%
A A A +11.48%
A A A +11.68%
A A A +9.25%
A A A +14.40%
T A A +7.72%
A A A +9.80%

Name Last Chg
iShEmMkt 141.32 -1.43
ISh EAFE 8337 -.19
ISRIKV nya 88.99 -22
iShR2K nya 84.48 -.46
Irr Corp 71.08 -.03
ITW 58.01 +.10
ImpOil gs 49.05 +29
ImpTob 89.82 -88
IndoTel 49.95 -1.66
Infineon 18.49 -.09
Infosys s 52.17 +.26
IngerRd 55.88 +.68
Intel 25.95 -.02
IntcntlEx 169.98 +2.87
IntCtlHti 26.43 +.15
IBM 109.66 +1.06
IntlGame 37.35 -33
IntPap 40.01 -.78
Intuit 30.07 -.11
Invesco 27.13 -.05
Ipsco g 159.85 +.18
JPMorgCh 49.83 -22
JacobsE s 63.91 -.67
JohnJn 63.80 +37
JohnsnCti 126.35 +3.00
JoyGIbl 6434 +32
JnprNtwk 26.96 -.89'
KLAThc 56.70 +Z55
KPN 16.82 +.12
'KT Corp 24.97 +.13
Kellogg 51.96 -27,
Keycorp 35.10 -.19
KeySpan 41.75 -.05
KimbCIk 67.42 +39
Kimco 4030 +.19
KindME 55.91 -.69
Kinross g 13.18 -.32
Kohls 68.11 -.57
Kookmin 91.96 -1.87
KoreaEIc 2534 -.14
Kraft 35.52 -37
Kroger 29.17 +36 .
Kubota 44.07 -31
Kyocera 10823 +.08
L-3 Com 99.87 -.11
LG Philips 2324 +.09
LabCp 8124 +.16
LafargeSA 46.16 -.10
LamRsch 54.45 +.14
LVSands 8130 +.09
'LeapWirels 95.16 .+.91
LeggMason 101.06 -.99
LehmanBr 72.80 -.70
LeucNati 38.98 +.63
Level3 6.16 -.04
LibGlobA 44.09 -.41
LibGlobB 44.60 +.10
LIbGIobC 4237 +.06
LibtyMIntA 22.96 +.09
LibtMCapA 124.85 -.28
LillyEII 56.89 -.03
Limited 2727 -.19
LincNat 69.47 -.30
LidearTch 37.77 +.06
LloydTSB 46.75 +.25
LockhdM 96.80 -.54
Loews 51.09 -.77
Lowes 30.17 -.59
Luxottica 38.75 -.45
Lyondell 40.12 -1.04
M&T Bk 112.12 +.40
MBIA 6059 -.19
MEMC 63.04 +38
MGMMir 85.53 +.04
Macys 40.14 +.39
Magnal g 96.89 +1.49
Makita 44.85 -38
Manpwl 94.26 -.34
Manulif gs 38.46 +.12
Marathons 63.20 -1.84
MarIntA 44.41 +.33
MarshM 3126 +.01
Marshals 46.83 +26
MartMM 160.36 -3.14
MarvellT sIf 18.63 +.05
Masco 28.02 -36
MasterCrd 16971 +.50
Matsush 1937 +.02
Mattel 27.20 +.67
Maxim hif 34.86 -.10
McDermInt 91.74 -.35
McDnids 52.10 +.19
McGrwH 64.64 +1.07
McKesson 6020 -30
MeadWvco .36.13 -33
MedcoHlth 79.22 -.48
Medtmic 52.46 -28
Merck 50.83 -.02
MerrillLyn 8739 +.85
MetUfe 64.89 -.43
Metso 64.48 -.72
Microchp 38.06
MicronT 13.98 +24
Microsoft 30.03 +21
Millea s 42.51 +.02
Milllcomint 97.05 -1.16
Mirant 42.50 -.62
MitsuUFJ 11.24 +.01
Mitsui 459.00 -3.00
MizuhoF n 14.07 -.04
MobileTel 66.80 -.02
Mohawk 101.07 -.74
MolsCoorsB 93.14 +28
Monsanto s 69.79 -27
Moodys 61.12 -1.49
MorgStan 7230 -.96
Mosaic If 4024 -.55
Motorola 18.16 +26
Murphy 6322 -.17
NCR Cp 53.85 +.04
NEC 524 -.01
NIl Hldg 86.40 -.60

Name Lst Chg Name Lst Chg
StylusEngy 2.66 -.01 ThompsonCreek21.46 -1.00
LegacyHtlsUn 12.44 -.01 Thundermino .45 +.13
MolyMnsOrdo 6.01 +.21 EnCanaCorp 65.42 -1.87
NuvoResearch .17 -.02 PetroCanada 59.85 -.55
BCEInc 40.70 -.50 NexenInc 33.94 -.72
ManulifeFin 40.07 -.19 BreakwaterRes 3.36 -.05
PaladinOrdo 7.71 -.12 YamanaGIdo 12.55 -.37
CIBC 98.07 -.08 BarrickGold 33.28 -.31

Name last Ch
NRG Egy s 43.90 -.10
NTTDoCo 1531 -.01
NYMEX n 138.98 +1.03
NYSE Eur 82.91 -.31
Nabors 31.62 -.86
NBkGreece 12.54 +.03
NatlCity 33.21 -.14
NatGrid 72.59 +.41
NOilVarco 112.74 +.89
NatSemi 29.05 +.02
NetwkAp 29.48 -.38
NewellRub 2927 -.34
NewfldExp 49.42 -.61
NewmtM 41.11 -.30
NewsCpA 21.96 -.01
NewsCpB 23.63
Nexen g s 32.53 -.55
Nidec 14.88 -.03
NikeB wi 58.78 -23
NippnTT 22.26 +.04
Nissan 21.88 +.02
NobleCorp 100.17 -1.56
NobleEn 64.11 -1.38
NoklaCp 29.85 -.06
Nomura, 18.19
Nordstrm 48.36 -1.05
NorflkSo 56.66 +.81
Norsk 42.76 -20
Nortel lfrs 2332 -.18
NorTrst 67.13 +.88
NorthropG .77.00 +.50
Novartis 55.45 +.51
NovoNdk 109.70 -.95
Nucor 6229 -1.48
Nvidia 46.70 +.83
OcciPet s 61.54 -2.06
OffcDpt 29.68 -.42
Omnicm s 53.91 +39
Oracle 20.20 -.20
Orix ;,12751- -.90
PG&E Cp 45.01 -.61
PNC 73.53 +.10
POSCO 148.00 -1.95
PPG 78.71 -.10
PPL Corp 48.54 -121
Paccar s 94.15 +.38
ParkHan 104.94 +.24
Paychex 43.94 +.50
PeabdyE 48.06 -1.50
Pearson 16.98 +.14
PennWst g 34.14 -.21
Penney 74.32 -1.53
PepsiBott 3623 +.12
PepsiCo 66.99 +.14
PetroC g 5737 -21
PetChina 156.51 -2.27
PetrbrsAs 59.41 -.70
Petrobrs s 68.57 -.53
Pfizer 26.08 +.17
PhilLD 58.55 -.24
PhilipsEl 43.75 -.80
PitnyBw 46.54 -.27
PlainsAA 64.68 -.05
PlumCrk 43.09 -.21
Polo RL 99.67 -1.54
PortglTel 14.33 +.09
Potash s 84.14 +.63
PwShsQQQ 49.85 -.05
Praxair 75.77 -.40
PrecCastpt. 132.44 +.68
PriceTR 53.94 +.63
PridelntI 37.60 -1.14
PrinFncl 61.79 -.07
ProctGam 63.15 +.49
ProgrssEn 45.55 -1.00
ProgsvCp 22.06 -.33
ProLogis 6025 +30
PrudentI 97.12 +.07
Prud UK 29.89 -.21
PSEG 8920 -3.30
PubStrg 78.75
Publicis 44.92 -.75
Qualcom 45.03 -.32
QstDiag 54.53 -.72
Questar s 5520 -.85
QwestCm 9.51 -.13
Raytheon 53.92 +.12
teedElsNV 40.49 +.45
ReedEls plc 54.83 +.71
RegionsFn 34.21 +.16
ReliantEn 29.81 -.34
Repsol 40.30 -.37
RschMotn 226.54 -.98
ReutrGrp 78.50 +.19
ReynAm s 66.00 +.04
Rinker 79.70
RioTinto 301.70 -2.44
RobtHalf 37.82 -.21
RockwlAut 74.23 +.62
RockColl 73.34 -.08
RogCm gs 47.39 +.05
RoHaas 55.73 -.18
Rostele 59.25 -.55
RoyalBk g 55.19 +.09
RylCarb 40.91 -.27
RoyDShllB 84.81 -1.53
RoyDShlIA 82.91 -1.31
Ryanair s 38.95 -1.62
SAP AG 52.44 +.30
SK TIcm 29.42 +.24
SLGreen 132.19 -.33
SLM Cp 52.95 -.69
STMicro 19.73 -.21
Safeco 61.29 -.26
Safeway 35.56 -.06
SUude 42.11 +.02
SanDisk 54.18 -.58
Sahofi 42.90 +.38
Santos 48.93 +.30
SaraLee 17.22 -.07
Sasol 40.25 -.58
Satyam s 26.45 -.35

Name Last Chg
CGIGrpASV 11.90 +.16
IvanhoeMines 17.00 -.23
Cork Expl 1.55 -.01
Goldcorpinc 27.12 -.70
Ur Energyo 4.03 -.46
YellowPgsUn 14.28 -.10
NuvistaEngy 13.95 -.37
DenisonMines 12.89 -.60

1,600 ....1,5 0 .......... ... 2,800 0 .. ...... ... ... ..
..........I........ ..... -......................

1,5502,7 1,52000 2,660
1, SO ....................... .... ........... .... 2 ,7 0 0 ..2 '6 O O . T r." "-' .. ...... ........ ........ ,..A
1,480 10 DAYS2 10 DAYS

1,450 .. .... -...2,...-... ...-.... 2,SOO

1,400 ........... ........... S&P500 2,400 ....... .......... .. .......... Nasdaq composite
Close: 1,549.52 Close: 2,697.33
Change:-2.98 (-0.2%) Change: -9.67 (-0.4%)
50 ....... ......... A ......... J J J F .... ..............A J J........... ......... 2,300 ....... ..............................................................

Name Last Chg
DataMirror 26.60 +4.10
EldoradoGId 4.97 -.30
OPTICanada 23.35 -.64
GlobalAlumUS 1.96 +.06
RONAInc 22.89 +.39
NeoMatTech 4.67 -.20
KatangaMngNtl04.00 -1.00
BkMontreal 69.15 -.40


YEST 8.25 5.31
PREV 8.25 5.25
vivir n a, ~2lta

3-month T-bill 4.84 4.82 +0.02 A A V 4.93
6-month T-bill 4.86 4.85 +0.01 A A V 5.06
1-year T-note 5.00 5.02 -0.02 V V V 5.20
2-year T-note 4.86 4.91 -0.05 V V V 5.09
5-year T-note 4.94 5.00 -0.06 T V A 5.03
10-year T-note 5.04 5.10 -0.06 V V A 5.07
30-year T-bond 5.12 5.19 -0.07 V V A 5.12

Lehman Bros Bond ldx5.18 5.24 -0.06 V V A 520
Bond Buyer Muni Idx 4.82 4.85 -0.03 V A 4.88
Lehman US Inv Grade 5.75 5.76 -0.01 V V A 5.73
Lehman US High Yield 831 834 -0.03 A A A 8.60
Moodys Bond index 5.82 5.84 -0.02 V V A 5.83
Bank Index 114.96 115.05 -0.09 A T 105.88
DJ Corn Bond 197.39 196A3 +0.96. A A A 185.06


Vol. (in mil.) 2,706 1,725
Pvs. Volume 2,754 1,717
Advanced 1047 1029
Declined 2225 .1992
New Highs 258 203
New Lows .81 71

Name Last Chg
SchergPI 32.40 -.08
Schlmbrg 90.54 +.90
Schwab 22.25 +.03
SeagateT 22.78 -.02
SearsHIdgs 155.71 -1.69
SempraEn 58.40 -.41
ShawC g 46.38 +.73
Sherwin 66.71 -.89
Shinhan 141.83 -.08
Shire 75.96 +.72
SiderNac 56.09 -1.35
Siemens 150.79 -2.38
SIcnware 11.64 -.10
SimonProp 94.38 +.11
Smith&N 64.23 +.53 .
Smithintl 61.33 -.34
SonyCp 52.47 -.28
SouthnCo 34.42 -.45
SthnCopp s 109.59 -.63
SwstAirl 15.63 +.13
SwstnEngy 43.43 -1.52 .
SovrgnBcp 21.78 -.16
SpectraE n 26.23 -.49
SprintNex 22.37 +.67
SPDR 154.83 -.02
SP Mid 167.29 -.80
Staples 24.54 -.29
Starbucks 26.08 +.01
StarwdHtl 74.30 -.79
StateStr 70.39 +.37
Statoil 32.59 -.81
Sterlite n 17.92 +.46
StoraEnso 18.94 -.36
Stryker 67.49 +.89
Suez 57.11 -.70
SunLfFn g 48.97, +.54
SunMicro 5.34 -.03
Surcor g 93.53 -1.68
Sunoco 82.32 -1.73
Suntech 42.96 -.20
Sunfrst 89.15 -.49
Supvalu 47.50 -.04
Swisscom 36.06 +.11
Symantec 19.74 -.06
Syngenta 40.18 -.02
Synovus 31.03 -.21
Sysco 32.68 -.19
TD Ameritr 19.63 -.29
TDK 92.02 -.75
TJX 29.39 -.21
TXU Corp 67.34 -.28
TaiwSemi 11.68 +.02
TalismE gs 19.97 -.38
Target 68.89 -1.25
TataMotors 18.57 -.13
Technip 84.29 -2.91
TeckCm gs 48.91 -.74
TelcNZ 29.49 +.18
Telltalia 28.45 -.20
TelitaliaA 22.63 -.11
TelSPaulo 35.88 -.22
TelefEsp 71.33 +.77
TelMexL 38.29 -.29
TelData If 70.72 +.75
Telkom 95.76 +1.38
Telus g 59.74 +.21
Templeln 64.90 -.56
Tenaris 50.15 -1.59
Terex s 94.13 +1.84
Ternium 31.99 -.96
Tesoro wi 57.50 -1.70
TevaPhrm 43.44 -.12
Texinst. 39.07 +.37
Textron 116.03' +1.24
ThermoFis 53.93 +.37
Thomson 43.95
3M Co 90.87 +.65
Tiffany 56.22 +.16
TW Cable n 40.02 -.11
TimeWarn 20.93 +.07
Trchmrk 67.80 -29
TorDBk g 69.75 +.06
Total SA 85.33 -1.65
Toyota 125.84 -.14
lTCda g 35.57 -.20
Transocn 107.09 -1.85
Travelers 53.41 -.17
Tribune 29.65 -.93
Turkcell 17.39 -.21
TycoElec n 39.30 -.17
Tycolnti n 50.43 -.91
Tyson 23.78 -.13
UBS AG 61.98 +.49
UPM Ky 25.36 -.28
UST Inc 52.24 -.19
UltraPt g 56.75 -1.80
UUniao 128.07 -.96
UnilevNV 32.70 -.32
Unilever 33.59 -.24
UnionPac 122.18 +1.38
UnBnCal 59.89 -.35
UtdMicro 3.58 -.01
UPS B 75.53 +.38
US Bancrp 3320 +.02
US Cellular 102.59 +2.04
USSteel 114.47 -1.63
UtdTech 76.67 +1.67
UtdhlthGp 52.95 -.03
UnumGrp 26.02 -.33
VF Cp 94.60 +.09
ValeroE 76.08 -1.17
VeoliaEnv 78.29 -.96
Verisign 33.00 -.91
VerizonCm 42.76 +1.00
ViacomB 42.06 +.18
VimpelCm 112.50 -4.59
VirgnMda h 28.73 -.22
Vodafone 33.15 -.37
Volvo s 22.65 -.10
Vomado 113.74 -.31
VulcanM 111.08 -3.34
WPP Gp 76.28 +.36
Wachovia 52.36 -.28
WalMart 48.94 -.21
Walgrn 44.96 -.24
WA Muti 42.53 -.19
WsteMInc 39.45 -.25
Waters 61.58
Weathfdint 54.41 -.76
WellPoint 82.01 +23
WellsFgos 35.45 -.09
WstnUn n 20.64 -.02
Westpac 114.92 +.97
Weyerh 81.50 -.18
Whrlpl 111.92 +.61
WhtMtlns 584.90 -1.16
WmsCos 33.37 -.68
Windstrm 14.63 -.08
Wipro 15.58 -.28
Wolseley 23.91 +.17
WooriFn 80.24 -3.21
Wrigley 57.13 -.66
Wyeth 56.63 -20
Wyndham n 37.30 -.50
Wynn 97.79 -.60
XL Cap 84.49 +.16
XTOEngy 59.34 -122
XcelEngy 20.70 -.28
Xerox 19.79 -.11
Xilinx 28.00 -.10
YPFSoc 45.08 -.49
Yahoo 26.70 +.12
YumBrdss 34.08 -.40
Zimmer 85.97 +.94
ZionBcp 78.55 +.32

Largest Mutual Funds

ConstellA m 29.82 -.06+28.0
American Cent
Ultralnv 30.42 -.02+212
American Rmds /
SAmcapA m 22.11 -.03+23.7
BalA m 2033 ... +20.4
BondA m 13.18 +.02 +63
CapIncBuA m 66.43 ...+27.9
CpWIdGrIA m 47.96 -.01+36.9
EurPacGrA m 5432 -.12+382
FundmInvA m45.60 -.10 +28.7
GrowAmerA m37.08 -.08+253
GrowAmerB m35.78 -.08+243
HlncA m 12.61 +.02+122
IncAmerA m 21.62 -.03+232
InvCoAmA m 36.82 -.09+23.7
MutualA m 32.09 -.06+263
NewEconA m 30.05 -.06+33.7
NewPerspA m36.40 -.05+33.5
NwWrldA m 58.80 -.12 +52.7
SmCpWIdA m47.82 -.09 +45.4
WAMutinvA m3836 -.06+27.1
Intl 33.05 -.03+36.4
Growth b 54.69 -24+26.0
TxMIntI 30.07 -.09+36.4
GlobAIcA m 20.13 +.01 +22.7
GlobAlcC m 18.96 .-+218
GrowA m 62.80 -.17+29.0
AcornZ 33.51 -.23+30.0
EmgMktVal 43.48 -.14+78.4
IntlSmCap 24.65 -.03 +43.1
IntlValu 26.68 -.04+46.0
USLgVal 27.83 -.09+27.9
USSmVal 32.03 -25+26.5
DremHRtEA m54.48 -30+22.6
NYVentA m 42.33 -28+25.9
NYVentC m 40.67 -27+24.9
NYVentY 42.86 -29+262
Dodge & Cox
Bal 91.41 -.03+192
Income 12.42 +.03 +6.1
IntlStk 50.76 -.02 +388
Stock 165.83 -25+263
ValRestrA 61.62 -.52 +33.7
AstMgr50 17.05 -.01+17.5
Bal 21.34 -.05+22.7
BIChGrow 49.11 .. +24.6
CapApr 30.99 -.06+292
Capinc 9.15 ... +163
Contra 72.96 -.23+25.5
DiscEq 32.75 -.09+282
DivGrow 34.58 .-+28.2
Divrlntl 42.73 -.01+36.3
Eqlnc 63.75 -.17 +30.4
Eqlnc II 25.59 -.07 +26.1
FF2040 1028 -.03+27.9
Fidelity 40.17 -.11+29.4
Free2010 1537 -.01+18.1
Free2020 16.56 -.03+232
Free2030 17.33 -.04+26.9
Govtinc 9.91 +.02 +4.8
GrowCo 79.12 -39+312
Growinc 34.10 -.13+24.
IntBond 10.12 +.01 +4.9
IntlDisc 44.17 -.03+39.6
InvGrdBd 722 + +5.3
LevCoSt 36.16 -29 +39.7
LowPriStk 48.72 -24+30.1
Magellan 97.60 -31+27.4
MidCap 32.94 -.14+32.1
OTC 48.61 -22+43.1
Overseas 53.19 -.01+402
Puritan 2128 -.02+21.8
Reallnv 34.60 -.14+143
ShTmBond 8.78 +.01 +4.4
USBdIndx 10.69 +.03 +5.4
Value 91.96 -37 +31.7

500IndxAd 107.47 -20+27.6
5001SOOIndxIn 107.47 -20+27.6
USEqlndxl 54.85 -.11+27.6
Frst Eagle
GIbA m 5029 -.11+24.1
OverseasA m 27.87 -.03+242
CATFA m 722 +.01 +4.7
Fed TFA m 11.91 +.02 +43
Income A m 2.76 -.01+202
Income C m 2.7 ... +19.9
IncomeAdv 2.75 +20.4
OiscovA m 34.76 -.01+34.1
Shares A m 28.61 -.06+272
Shares Z 28.85 -.07+27.6
FgnA m 15.62 -.04+333
ForEqls 30.9 -.08+44.9
Growth Am 28.11 -.04+29.8
Growth Ad 28.18 -.03+302
WorldA m 21.62 -.03+31.4
Feakh Tetown
FndAIIA m 14.97 -.01+253
CapApinst 36.44 -.01+25.1
Intlinstl 73.55 -38+45.8
AdvHLSIA 24.43 +.01 +24.1
CapAprA m 43.41 -.18+32.6
CpApHLSIA 60.00 -30+35.8
DvGrHLSIA 2536 -.07+31.0
Contrarian 20.17 -.10 +46.4
GrowInc 4336 -22+25.9
Janus 31.89 -.03+29.0
MidCapVal 26.88 -.12+28.7
Overseas 55.45 -26+57.6
Twenty 64.14 -29+32.8
John Hancock
ClsscValA m 29.67 -.04+26.1
LifBal b 1529 -.02+20.5
LifGrl b 16.17 -.04+24.7
IntlEqA b 5024 +.06+45.3
IntlEql 5136 +.06+45.7
Valuelnst 85.63 -25+25.9
ValuePr b 76.46 -23+24.6
Longleaf Partnes
LongPart 39.55 -.11+34.1
Bondl 14.56 +.07 +12.4
Lord Abbett
AffiliatA m 16.44 -.03+22.6
MIdCpValA m 24.96 -20+31.3
TotRetA m 17.14 -.01+19.1
ValueA m 2956 -.08+282
Masters' Select
SmallerCos 17.08 -.06+28.9
Morgan Staley Instl
IntlEqA 2326 +.01+32.0
Oa kmark
EqIncI 28.15 -.08 +17.5
Intl I 28.43 +.02 +33.8
Oakmark I 49.86 -.06 +28.6
Select I 36.17 +.08+253

DevMktA m 51.73 -.40+62.0
GlobA m 82.44 -30+333
MalnStrA m 44.97 -.06+26.4
RocMunIA m 18.41 +.02 +5.8
StrincA m 4.37 -.+12.5

AllAsseti 12.87 +9.9
ComRIRStI 14.17 -24 -3.1
LowDris 9 2 +.02 +4.7
TotRetA m 10.17 +.02 +4.6
TotRetAdm b 10.17 +.02 +4.8
TotRetIs 10.17 +.02 +5.0

GlobHiYA 12.62 +.01 +14.1
PioneerA m 5324 -.04+26.9

GrowincA m 21.63 -.07+26.1

DivrEqlnA m 14.73 -.03+30.4
YIdPIsSel 9.66 .. +5.6
AmerShS b 50.52 -34+25.7 -
T Rowe Price
BIChpGr 4033 -.08+30.0
CapApprec 22.43 -.02+22.8
Eqlndex 4156 -.08+273
Eqtylnc 31.99 -.08+28.4
GrowStk 35.46 -.07 +313
IntlStk 19.02 +.01+363
MidCapVa 28.51 -.11+32.0
MidCpGr 64.06 -31+32.6
NewHoriz 3.6.14 -20 +24.7
Newincome 8.76 +.01 +5.6
SmCpStk 3725 -25 +217
Value 3032 -.10+30.8
Third Aveme
Value 65.65 -.43+24.5

IntlValA m 34.40 -.08+43.0
GlobVal 35.15 +.18 +32.8
Van Kmpnn
ComstockA m20.50 -.01+24.5
EqlncomeA m 9.67 -.01+20.1
GrowlncA m 24.06 -.05+26.
500 142.77 -28+27.5
500Admi 142.78 -27 +27.6
AssetA 31.12 -.04+26.3
EmerMktid m 30.83 -29+60.8
'Energy 79.52 -1.16+28.7
Europeldx 42.04 -.11+42.0
Expir 84.60 -.53+27.7
Extndldx 43.48 -28+28.4
GNMA 10.00 +.0 +5.5
GNMAAdml 10.00 +.02 +5.6
GIbEq 27.11 -.10+38.9
Growthldx 33.15 -.05+283
HItCrAdml 6528 +.01 +17.6
HIthCare 154.62 +.02+17.5
Instidx 141.70 -27 +27.7
InstPlus 141.70 -27 +27.7
InstTBdid 49.48 +.13 +5.6
InstTStPI 33.78 -.09+28.1
IntlGr 27.77 -.13+39.5
IntlVal 47.00 -22+39.1
LifeCon 1732 ..+16.5
LifeGro 26.08 -.05+26.8
LifeMod 21.72 -.02+21.5
MidCp 22.64 -.10+30.3
Morg 2150 -.06+30.4
MulntAdml 13.10 +.01 +4.2
Paciflcid 13.65 -.03+25.1
Prmcp 77.76 -.19+273
PrmcpAdml 80.75 -20+27.5
STCor 10.51 +.01 +5.5
STGradeAd 10.51 +.01 +5.6
SmCapidx 3638 -26 +27.6
Star 22.41 -.01 +21.0
StratgcEq 26.79 -.17 +28.0
TgtRe2015 13.45 -.01 +21.1
Tgtet2025 1429 -.03+24.9
TotBdAdml 9.81 +.02 +5.6
TotBdid 9.81 +.02 +5.5
TotBdinst 9.81 +.02 +5.7
Totlnti 20.59 -.08+402
TotStlAdm 37.46 -.11+28.0
TotStllns 37.47 -.10+28.0
TotStldx 37.46 -.10+27.8
WellsI 2225 +.02 +133
Welltn 34.66 -.02+21.6
WelltnAdm 59.7 -.02+21.7
WndsllAdm 68.35 -29+292
Wndsr 20.40 +315
WndsrAdml 68.83 -.01+31.7
Wndsrll 38.50 -.17+29.1
Wester Asset
CrPIBdIns 10.18 +.02 +63

Unleaded Gas (gal) 2.13 2.22 -4.05 +33.0
Crude Oil (bbl) 74.15 73.93 +030 +21.5
Gold (oz) 665.00 665.80 -0.12 +4.7
Platinum (oz) 1330.10 1330.50 -0.03 +16.8
Silver (oz) 12.97 13.01 -0.31 +1.3
Coffee (Ib) 1.09 1.08 +0.93 -13.6
Orange Juice (Ib) 1.28 1.27 +0.79 -36.4
Sugar (Ib) 0.10 0.10 ... -14.9

Foreign MO
aH Hu Argent(Peso) 3223 -.0004 -.12 3245 -.0021
Brazil (Real) .5350 -.0016 -30 .4669 +.0839
Britain (Pound) 2.0371 +.0035 +.17 1.9626 +.1989
Y Canada (Dollar) .9589 +.0044 +.46 .8498 +.0730
Chile (Peso) .001940 -.000000 -.00 .001843 +.000162
Colombia (Peso) .000517 +.000006 +1.16 .000450+.000125
SDominican Rep (Peso) .0301 -.0000 -.00 .0299 -.0004
Euro (Euro) 1.3784 -.0005 -.04 12923 +.1137
Japan (Yen) .008209 +.000014 +.17 .008292 -.000396
Mexico (Peso) .092730 -.000256 -28 .091283 +.001742
Uruguay (New Peso) .0421 +.0001 +24 .0409 +.0001

S&P 500 1549.52 -2.98 -0.19% A A A +9.25%
Frankfurt DAX 8105.69 +12.92 +0.16% A A A +22.87%
London FTSE 100 6697.70 -19.00 -0.28% V V A +7.67%
Hong Kong Hang Seng 22953.94 -14535 -0.63% A A A +14.97%
Paris CAC-40 6125.60 +7.64 +0.12% A A A +10.54%
Tokyo Nikkei 225 18238.95 +254.81 +1.42% V A A +5.88%

Buenos Aires Merval 2248.85 -38.97 -1.70% V A A +7.58%
Mexico City Bolsa 32265.93 -120.58 -0.37% A A A +22.00%
Sao Paolo Bovespa 57374.40 -269.76 -0.47% A A A +29.01% "
Toronto S&P/TSX. 14338.25 -158.25 -4.09% A A +-1.08%
Seoul Composite 1949.51 -13.42 -0.68% A A A +35.91%
Singapore Straits Times 3653.23 -1.38 -0.04% A A A +2235%
Sydney All Ordinaries 6418.40 -7.00 -0.11% V A A +13.71%
Taipei Taiex 9417.32 -53.98 -057% A A A +2037%
Shanghai Shanghai B 269.68 -9.61 -3.44% A V A +107.27%




Exuma Chamber

chief warns on

living costs

Tribune Business
T he Exuma Chamber
[I ~of Commerce's
president has
warned that living
costs on the island are going
to increase as a result of it
attracting high-end, luxury
resort developments.
Acknowledging to The Tri-
- bune that there was a percep-
tion that everything on Exu-
ma was expensive, Reg Smith
said: "The cost of living is
going to rise on the island,
because the products that we
are putting in are higher-end
He said Exuma residents just
needed to be realistic and plan
- properly. "If you have a piece
of property, then you pretty
much know what that is going
to cost," Mr Smith said.
"The market will always tell
you what the price will be. So,
yes, you will see the prices set
in and rise, but when reality
sets in the prices will come
back down."
In terms of food items, Mr
Smith said government should
step in and help' regulate the
prices on these products. Until
then, he said Exumians had to
budget and use their purchas-
ing power as best they can.
Meanwhile, Mr Smith said
the Exuma Chamber of Com-
c( i'- 2,'," .. ** ':- -

merce was planning to restruc-
ture itself to better assist
Bahamian businesses, as -the
island experiences an econom-
ic boom.
He explained that major
resorts, such as the Four Sea-
sons Emerald Bay and Grand
Isle Resort & Spa, were play-
ing a significant role in the
growth, and the Chamber
wanted to ensure it was able
to assist this development
"This is the standard that we
want for Exuma. A lot of peo-
ple are moving here and build-
ing homes that are very high-
end. There is tremendous
building and construction
here," Mr Smith said.
"Tourism is growing and
people are coming back home.
Retirees are coming home, and
in the next five to 10 years,
Exuma is the place to be. It is
.on the cutting edge. We have a
new flight in from Atlanta
now, we have our own airline,
Sky B'ahamas, so there are
some exciting things happen-
Mr Smith said there were
some Exumians who had come
back home and started their
own business, but noted that
primarily those who returned
really wanted to help their
He added that this was.
something the Chamber advo-

catesm, because it feels Exu-
mians have a responsibility to
help build the island and direct
it in the way that it ought to
go. "Unless we take a hands
on approach to the develop-
ment of this island, that you
will not know... We 'want
growth, but we want managed
growth," Mr Smith said.
He added that the Cham-
ber's biggest challenge was to
get Exumians involved in what
is happening in the economy.
"A lot of people thought
that the Chamber was a place
to go and lay a complaint, and
that is really not what we are
about," Mr Smith said.
"So, we are restructuring the
Chamber right now to where
we are going to be going out to
all the business houses and
becoming more involved in
what they are doing, and in
what the business community
is doing."
He added that last year, the
island hosted the first ever
Exuma Business Outlook, and
they are looking forward to
building on that for this year.
Mr Smith said the Chamber
was also hoping to launch a
new programme that will ben-
efit the individual communi-
ties on Exuma, ensuring resi-
dents in a particular commu-
nity have what they need with-
in their communities, and do
not have to go outside.
"Why should I have to go
outside my community look

for a job or to work when we
could create something with-
in my community to keep our
young people there?" Mr
Smith asked.

The Bahamas Environment, Science

and Technology (BEST) Commission,
Office of The Prime Minister

is seeking persons with
Engineering, Botany, Marine Biology, TefstrialaI
Ecology, and Urban Planning qualifications to fill
in-house consultancy positions,

Please contact The BEST Commission for more details at
The BEST Commission, Office of The Prime Minister

P.O. Box N-3730
Nassau Court, West Bay Street
Nassau, Bahamas
Tel: 242-322-4546 or 242-322-2576
Fax: 242-326-3509
Interested persons should apply in writing before July 30th, 2007. All applicants should be
available for interviews during the 3rd week of August 2007. All resumes should be submitted
with relevant documents and official school transcripts.



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


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
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. O. Box N-7130
Nassau, Bahamas
Fax no. (242) 702 1253 or email: julie.benjamin@bsiob.com

Only applicants having the above attributes will be contacted.

A \BA ,A H 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


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 the client base for monthly credit
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 qualifications 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 arid 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
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




tfhe Tribunfie) B1BB|| q



Bank owed $683,000 by

Bahamas card holders

who still owe a combined
Meanwhile, Mr Gomez said
Leadenhall had again become
exposed to a potential multi-
million dollar damages claim,
after Judge Adalberto Jordan,



In Voluntary Liquidation

Notice is hereby given that in accordance with
Section 138 (4) of the International Business Companies
is in dissolution as of July 16, 2007.

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



sitting in the US District Court
for the southern district of
Florida, permitted victims of
the 'Cash 4 Titles' ponzi
scheme to have their case cer-
tified as a class action lawsuit.
Cash 4 Titles was a fraudu-
lent investment scheme that
Leadenhall had provided
financial services to, but the
same judge had previously only
awarded $1.04 million in dam-
ages to three plaintiffs in the
action because the litigation
was not certified as a class
In his latest report, Mr
Gomez said: "On March 20,
2007, in US District Court for
* the Southern District of Flori-
da, the judge stated that the

case met the status of class
action and a class certification
hearing was set for September
7,2007, in Miami.


"The judgement of $1.04
million entered against the
bank and Axxess on February
12, 2007, may be reconsidered
and could possibly be substan-
tially more, inclusive of treble
damages under the RICO sta-
The former Cash 4 Titles
investors had been seeking
$330.228 million in damages.
However, as there is no judicial
comity between the Bahamas
and the US, even if they did



In Voluntary Liquidation

Notice is hereby given that in accordance with
Section 138 (4) of the International Business Companies
Act, 2000, EAGLE PORTFOLIO LTD,. is in
dissolution as of July 16, 2007.

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







Road to City Dump after Premix


Pricing Information As Of
PricIno Information As Of:

12.05 11.00
9.41 7.49
0.85 0.70
3.65 1.48
1.49 1.20
10.74 9.00
2.35 1.80
15.00 10.60
6.32 4.22
2.76 2.20
6.40 5.54
12.70 11.50
14.70 12.43
20.01 11.15
1.00 0.54
10.20 7.10
9.90 8.52
10.00 10.00

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



50,750 1.152
1.000 1.657

C F A. L-

* 0.060


52wk-Hi 52wk-Low Symbol .Bid $ Ask $ Last Price Weekly Vol. EPS $ DIv $ 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 10100 Caribbean Crossings (Pref) 6.00 6.25 10.00 0.000 0.640 NM 7.85%
3.54 0.20 RND Holdings 0.35 0.40 0.20 0.034 0.000 11.8 0.00%
43.00 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 14.0 04.00 1.234 1.125 12.6 7.71%
0.60 0.35 RND Holdings -0.45 0.556 0.45 '... 0.021 0.000 26.2 0.00%
52wk-HI 52wk-Low Fund Name NA V YTD% Last 12 Months Div $ Yield %
1.3467 1.2969 Colina Money Market Fund 1.346656"
3.2920 2.9218 Fidelity Bahamas G & I Fund 3.2920""
2.7399 2.4415 Colina MSI Preferred Fund 2.739935"*
1.2576 1.1820 Colina Bond Fund 1.257576"**
11.6049 11.0691 Fidelity Prime Income Fund 11.6049..... ..
BISX ALL SHARE INDEX -,10 Dec 02 = 1.000.00 MARKET TERMS YIELD last 12 month dividends divided by closing price NAV KEY
52wk-Hi Highest closing price In last 52 weeks Bid $ Buying price of Colina and Fidelity
62wk-Low Lowest closing price in last 52 weeks Ask S Selling price of Colina and fidelity 6 July 2007
Previous Close Previous day's weighted price for daily volume Lest Price Last traded over-the-counter price
Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior week 30 June 2007
Change Change In closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths
Daily Vol. Number of total shares traded today NAV Net Asset Value - 31 May 2007
DIV $ Dividends per share paid In the last 12 months NIM Not Meaningful
P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January 1. 1994 4 100 "* 30 June 2007
."*.. 30 June 2007
I I !list

get a judgement for that
amount in Florida, it could not
be enforced here.
Leadenhall, because it is in
liquidation, has minimal assets
to claim against, nor does it
have any ties to the US or
assets that could be frozen
there. Asa a result, the Cash 4
Titles investors would have no
option but to bring an action
against the bank in the
Bahamas if they wanted to
pursue their quest for damages,
and would have to stand in line
along with other creditors
before receiving a payout.
Elsewhere, Mr Gomez said
he had met with a UK law
enforcement officer on March

19, 2007, who was accompa-
nied by two officers from the
Bahamas Financial Intelligence
Unit (FIU).
They were seeking informa-
tion on a Leadenhall client,
and Mr Gomez directed their
request to the Attorney Gen-
eral's Office.


He also informed the court
that, in a separate matter, he
had contacted the Bahamian
FIU's senior officer over the
investigation of a forged
cheque worth Cdn$125,937, as
the previous investigating offi-
cer had resigned from the FIU.

The Public is hereby advised that I, Deana Smith,
legal guardian, intend to change, SORAYA J.D.
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 the
publication of this notice.

Legal Notice



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
^ene~l pn the.29th ay ne, A.D 2007.

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

Liquidator of




Pursuant to the provisions of Section 137 (8)
of the International Business Companies Act,
2000, the dissolution of FERTIL INC., has
been completed; a Certificate of Dissolution
has been issued and the Company has
therefore been struck off the Register. The
date of completion was March 20th, 2007.

Anthony B. Dupuch


Prestigious Private Island Resort has immediate positions
available for the following!

1 Housekeeping Supervisor (a minimum of seven
yearsexperience in supervisory position in major

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)

Competitive salary commensurate with experience and
qualifications. Free housing and other benefits available.

Interested pesons should fax resume to 242-347-5004 or
email to tstewart@catcayyachtclub.com


FROM page 1

outstanding $1.306 million in
unpaid credit card debt owed
to Leadenhall, despite num-
bering less than one-third of
the 310 international clients

vl,,t., % LI .ti P V ....i t M ..-.I

* Minimum 5 years experience in construction
* Working knowledge of'tiber and masonry
construction methods
* Proficient in reading and understanding construction
* 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
* 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

kj. ""lI fil I L I I


0 0ilCUf tSRO('


t ce0 f P Manager


Bahamas Hotel

Association chief

optimistic on the

Emerald Bay buyer

Tribune Business
r-^l"he Four Seasons

brand like Four Seasons here.
So we are happy that this will
stay in place."

I hotel brand is Despite some claims that the
expected to remain receivership is a sign that per-
TM on Exuma despite haps the 'anchor property
the Emerald Bay resort being model' is flawed, Mr Miller
placed in receivership, the said: "I don't think it is a huge
Bahamas Hotel Association's mega resort development,
president said, ensuring a lux- which somewhat frightens us
ury brand remains associated a little bit because we
with the island, announce these mega resorts
Russell Miller told The Tri- and developments.
bune that he believes a buyer "I think that sometimes we
will come forward to purchase lose sight of the fact of how we
the property, which had ini- are going to sustain them do
tially been touted as the they have the right infrastruc-
'anchor project model' for the ture in place; do they have the
rest of the Bahamas. labour force? I think these
things need to be taken into
Receiversip consideration and given
thought, because it is one thing
"I heard that it is in receiver- to announce these projects,
ship. I think, though, they will and then it is another to put
be able to find a buyer for it. I them in place and make them
think the good thing in all of it work for ourselves and for the
is that we are very optimistic investor."
that the Four Seasons brand During his visit to Exuma,
will not leave Exuma, so who- which was to attend the open-
ever takes over, whatever new ing ceremony for the new
ownership comes in, I think Grand Isle Resort & Spa pent-
the Four Seasons brand is pro- houses, Mr Miller had the
tected," Mr Miller said. opportunity to see first hand
"I think this. augurs .well for upscale resort properties on
the islands of the Bahamas to" Exuma. "They have,done a
kdep an .upscale, recogriisie'd-"r' eygodjbb hrefThe'fail-

ities are very high-end, and
they've set themselves up well
in providing another product
outside of Nassau/ Paradise
Island for the upscale and lux-
urious clientele," Mr Miller'
said of Grand Isle Resort &
Spa Responding to how the
cost of labour had affected the
cost of living on Exuma, Mr
Miller said it was not neces-
sarily a bad thing to have for-
eign labour, particularly at the
construction level. *
"I think it helps the Bahami-
an construction workers to get
exposed to another facet of the
construction business," he said.

However, he added that
where they have to be careful,
as the Bahamas builds and
grows, is where it finds
employees at the very basic
levels to fill the many positions
and many opportunities being
"That is what we are pushing
for at BHA, and trying to
make everyone aware of the
workforce development need.
We have to do a better job of
preparing students coming out
of school and letting them
know what opportunities exist
in the industry," Mr Miller

- i .

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


The Law Firm of

Harry B. Sands,

Lobosky & Company

will be closed on

Friday, July 20,2007

for the Firm's

Annual Fun Day

Closing date for applications is july 31st, 2007.

Security & General

A subsidiary of Colonial Group International Limited (CGIL) headquartered in Bermuda, is seeking an
Underwriting Account Executive to work in the Grand Bahama Operation.

The successful candidate will be responsible for maintaining all daily aspects of our operations and
business relationships in the Grand Bahama Market. Responsibilities will include, but not be limited to:

Maintaining and processing all business production records
Local underwriting control
4 Development of relationships with local business partners
Preparing periodic reports as required

The successful candidate should possess the following minimum requirements:

A professional insurance qualification (i.e. Dip CII or CIP), or proven progress towards its
4 A minimum of 3 years relevant work experience in Property and Casualty insurance.
4 Superior communication, interpersonal and organizational skills
-4 Proven ability to negotiate with external clients and work under pressure
4 Be a self-starter and able to work under own initiative
Computer proficiency and keen administration skills.
Maintaining a high level of product knowledge *
Currently residing in Grand Bahama, and/or prepared to relocate

Security & General offers an attractive benefits package that includes comprehensive medical insurance,
contributory pension plan, long-term disability and life Insurance coverage,

Applications will be treated in the strictest confidence and should be made in writing to:

Security & General Insurance Company, Ltd.
Attn: Human Resource Manager
P.O. Box N-3540
Nassau, Bahamas
by Fax to (242) 356-9049 (private faox number)

member of the QNB Group

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


To 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


To advepise in M

Tpfine- he#1nesppe


Retirement nightmare



FROM page 2

savings, the Bahamas is truly a
third-class economy.
The problems of defined
benefit pension plans
In years past, many firms
created defined benefit pen-
sion plans. These plans, which
were often non-contributory,

provide a pre-determined
monthly retirement benefit to
an employee based on the
employee's earnings history,
years .of service and age. The
costs of these plans were gen-
erally funded by employer con-
tributions into a trust fund.
As benefits rose, many com-
panies did not maintain their
level of contributions at the
required levels, which created

Leadnq Lw Fim seksLea l Secretar

one or mor

must have experience in
e 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 fax to: 323-0012


IN THE MATTER OFALL~JIH.pO,giJ.ces parqleJs4r tract ,
of land containing 2.592.acres being the South-eastern
portion of a Crown Grant originally made to Anthony Smith
and recorded in Book F at page 17 and situate on the main
Queen's Highway in the Settlement of Mars Bay in the
Southern District of the Island of Andros one of the Islands of
the Commonwealth of The Bahamas.
IN THE MATTER OF The Quieting Titles Act, 1959, Chapter 393
TAYLOR under The Quieting Titles Act, 1959
The Petition of BERTRAM M. TAYLOR of the Settlement of
Mars Bay in the Southern District of the Island of Andros one of
the Islands of the Commonwealth of The Bahamas in respect
ALL THOSE pieces parcels or tract of land containing
2.592 acres being the South-eastern portion of the land
the subject of a Crown. Grant originally granted to the late
Anthony Smith'situate on the main Queen's Highway in
the Settlement of Mars Bay in the Southern District of the
Island of Andros aforesaid.
BERTRAM M. TAYLOR claims to be the owner of
the fee simple estate in possession of the tract of land
hereinbefore described free from encumbrances.
AND the Petitioner has made application to the
Supreme Court of the said Commonwealth of The
Bahamas under Section 3 of The Quieting Titles Act,
1959 (Chapter 393) Statute Laws of The Bahamas. To
have his title to the said parcel of land investigated and
the nature and extent thereof determined and declared in
a Certificate of Title to be granted in accordance with the
provisions of the said Act.
NOTICE IS HEREBY GIVEN that any person
having Dower or a right to Dower or. an Adverse Claim
or a claim not recognized in the Petition shall on or
before the Twenty-third day of August, A.D., 2007 file in
the Supreme Court and serve on the Petitioner or the
undersigned a Statement of his Claim in the prescribed
form verified by an Affidavit to be filed therewith, Failure
of any such person to file and serve a Statement of his
Claim on or before the Twenty-third day of August, A. D.,
2007 will operate as a bar to such claim.
Copies of the filed plan may be inspected at:

1. The Registry of the Supreme Court situate
Second Floor, Ansbacher Building, East Street
and Bank Lane in the City of Nassau, Bahamas

2. The Administrator's Office, Congo Town,
Andros, Bahamas

3. The Chambers of Clarita V. Lockhart, Attorney
for the Petitioner, No: 90 Shirley Street, Shirley
Street & Elizabeth Avenue, Nassau, Bahamas

Dated this Fifteenth day of June, A. D., 2007

Attorney for the Petitioner

Attorney for the Petition

a much larger problem. The:
problem being that many com-
panies with defined beulefit
pension plans are severely
An underfunded pension
plan is one where the known
liabilities (obligation to pay
future pensions) are far greater
than the assets that could be
used to pay those obligations.
Further, in some cases, those
assets belonging to a pension
plan are not always separated
completely from those of the
operating company (employ-
The problem of pension plan
underfunding is not just limited,
to US companies. Recently,
the press carried stories sug-
gesting that the Bahamas
Telecommunications Compa-
ny (BTC) pension plan could
be underfunded by as much as
$100 million. However,
notwithstanding this large
deficit, on a relative basis,
BTC's pension funding status
may be far superior to those
of the other statutory corpo-
rations a situation which is
most frightening.
Geoffrey Colvin, a senior,
editor at Fortune Magazine,
wrote a commentary in the
January 13, 2006, edition, in
which he commented on US'
changes in accounting for pen-
sion liabilities: "This year, the
Government Accounting Stan-,
dards Board, which sets the
-rules for the public sector, is
changing its regulations. State
and local governments will
now have to reveal their pen-
sion liabilities, which may be
underfunded by $1 trillion or.
more." The publication of
these liability numbers will
undoubtedly unleash a fury of
debate and further calls for
pension reform in the US.
In the Bahamas we have

absolutely no idea of the size
of the unfunded pension lia-
bility already accrued in
respect of the civil service. I
am constantly amazed by the
management of some public
corporations, who seem to be
of the view that irrespective of
the funding status of their pen-
sion plans and seeming lack of
corrective action, that the Gov-
ernment must fully cover their
pension obligations, no matter
what. For their sake, I hope
they are right. However, the
growing global reality is that
retirees (both public and pri-
vate sector) are increasingly
being faced with the prospect
of reduced pension payments
when they can least afford it.
Pay-as-you-go systems
As if the funding status of
government corporation pen-
sion plans is not enough, it
should be noted that the Gov-
ernment's pension plan for its
20,000-pius civil servants is.
completely unfunded. What
this means is that there are no
assets set aside to cover these
liabilities. The Government
operates on, a pay-as-you-go
system, which means that each
year it must raise through tax-
es sufficient funds required
to pay retiree benefits for that
Many, large. European coun-
tries such as France, Germany
and the UK are now facing
huge pension burdens, as pen-
sion cotst a' a percentage of
the annual budget are unsus-
tainably large. Thus, pension
reform is increasingly being
forced, upon them.
Bahamian pensions
The most recent study con-
ducted by the Central Bank
,..ggests that private pension
finds in'the Bahamas are fast
'- ,. ." '

approaching the $1 billion
mark in terms of assets. Look-
ing at this another way, the size
of these private pension funds
represents almost 20 per cent
of GDP.
When you add the value of
the National Insurance Fund,
which is slightly more than $1
billion in assets, these two
sources of long-term pension
savings now soar to 40 per cent
of GDP. What is most incred-
ible is that while industry par-
ticipants have' called on suc-
cessive governments to imple-
ment pension legislation to, at
a minimum, provide some reg-
ulatory oversight, nothing
seems to be done. We have a
great social timebomb in the
making, growing daily while
our policymakers seem to lack
the resolve to even remotely
address it.
The commission formed to
address reforming the Nation-
al Insurance Board said: "The
Social Security Reform Com-
mission recognizes that the
National Insurance retirement
pension was not designed to
provide sufficient income in
old age for all retirees. And
although many workers are
members of employer pension
plans and/or have their own
personal savings, a great num-
ber of Bahamians retire with-
out a secure income."
The above statement is in
stark contrast to the percep-
tion of the average person on
the street, who believes the
National Insurance Fund will
provide for his/her full pension
How are future retirees
going to be provided for? Do
we just ignore the situation and
face the consequences later, on
somebody else's political
watch,.or do we plan for the

We need to bear in mind
that our population demo-
graphics are highly skewed.
Currently, we have about 60
per cent of our population
under the age of 35. Given the
current birth trend among our
legal population, who are hav-
ing fewer children, and there-
fore fewer long-term contribu-
tors to National Insurance, in
another 30-40 years we will
have a large retired population
trying to survive on insufficient
retirement incomes.
One option considered by
the Commission was the intro-
duction of mandatory pen-
sions, which they see working
as follows: "Through legisla-
tion, require all employers in
the Bahamas to establish a
pension plan for their employ-
ees that provide certain basic
minimum benefits, contribu-
tions and other requirements.
These contributions and pen-
sion payments will comple-
ment NIB's pension to meet
the overall income objective.
Where an employer already
has a pension plan whose
terms are more generous than
the minimum standard, the
employer may choose to con-
tinue that plan."
Australia and Switzerland
are examples of developed
countries that have successful-
ly implemented mandatory
pension laws; while Bermuda
and the Cayman Islands are
regional examples.
Further, Jamaica, Barbados
and Trinidad have recently
passed new pension legislation
or are in advanced stages of
doing so.
The intention of pension leg-
islation is not only to regulate
pension funds but also to
encourage employers/employ-
ees. to work together to pro-
vide a social safety net for the
'long-term benefit of workers,
while relieving central govern-
ment of this sole burden. Pro-
gressive governments have
understood this and are doing
it. Quo vadis Bahamas?
Until next week...
NB: Larry R. Gibson, a
Chartered Financial Analyst,
is vice-president pensions,
Colonial Pensions Services
(Bahamas), a wholly-owned
subsidiary of Colonial Group
International, which owns
Atlantic Medical Insurance
and is a major shareholder of
Security & General Insurance
Company in the Bahamas.
The views expressed are
those of the author and do not
necessarily represent those of
Colonial Group International
or any of its subsidiary and/or
affiliated companies. Please
direct any questions or com-
ments to rlgibson@atlantic-

Fo he-ore




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



Human Resources Manager

Nassau, Bahamas

Bachelor's degree in related field (Mandatory) Masters Degree
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):

/ Employee Relations Provide guidance to managers & supervisors
in supporting proactive HR plans, products ot 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


Salary commensurate with management position at the FC Level' 6
(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 benefit.

Applicants are requested to submit their resume with a cover letter via
email by July 23rd, 2007 to: siobhan.l1oyd@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.




Bids up to $500m

for the BORCO

FROM page 1

arm, which is running the
open, transparent 'beauty con-
test' process for it.
Yet closing a sale may not
be simple, as it will require the *
approval of both the Bahamian
government and the Grand
Bahama Port Authority
*(GBPA). And this is likely to
be tied into BORCO's licence,
which sources said was for an
oil refining operation, not just
an oil storage/transhipment
The Tribune reported pre-
viously that PDVSA had given
a commitment -when it
acquired BORCO in the late-
1980s that it would restart oil
refining capabilities at the
Grand Bahama operation, but
it never fulfilled this despite
strong pressure from the late
Edward St George.
Sir Albert Miller, the

GBPA's chief executive, which
issued BORCO with its
licence, strongly indicated to
this newspaper that the Port
Authority would press any
buyer to restart oil refining
capabilities at the plant.
The refining, commitment,
though, has led some to ques-
tion whether any BORCO
purchaser is aware of this com-
mitment, and whether a buyer
would inherit it.
It is unclear whether this
commitment would carry over
to a new buyer, some believing
this unlikely, or whether it
would expire with PDVSA's
One source told The Tri-
bune: "The licence is for the
purpose of operating a refin-
ery. Unless the new buyer
begins refining operations, they
may not be in compliance with
that initial licence agreement."
The same source also

claimed that the sales docu-
ments issued to potential bid-
ders by PDVSA did not men-
tion that any buyer would need
approval from the GBPA and
Bahamian government for the
deal to be consummated.
However, other contacts
have disputed the claims sur-
rounding BORCQ's licence.
They said the commitment giv-
en by PDVSA had been
watered down to an 'under-
taking' to restart refining; after
Mr St George came under
pressure in the early 1990s to
moderate his stance from then-
newly-elected Prime Minister
Hubert Ingraham and Grand
Bahama-based FNM MPs.
Up until that point, sources
suggested, Mr St George and
the Port Authority had been
reluctant to grant BORCO a

TKF lA &

licence after the PDVSA
takeover, the company having
purchased the 50 per cent
owned by Chevron, but one
was ultimately issued and the
refining issue went away.
The identity of the bid final-
ists is- unclear, although one of
the players in the initial round
is understood to have been
Vitol, a European-based com-
pany, which did not make it
into the final contest.
At least two Bahamian
groups are thought to have
submitted initial offers, while
Barry Malcolm, former GBPA
vice-president and an ex-BOR-
CO executive, is also said by
sources to be working closely
with a foreign bidder.
Of BORCO's 500 acre site,
some 208 acres has never been
developed, and it is understood
that at least some of the bid-
ders believe this can be used
to double the transhipment
facility's size.
PDVSA was viewing this
undeveloped land as invest-
ment property it could "sell for
current market value" and
increase the final price paid by
any purchaser.
The BORCO refinery closed
in 1985 amid a global oil supply
glut, and one source told The
Tribune that when this hap-
pened nitrogen blankets were
placed on the refinery assets
to preserve them.
However, the source said
that after PDVSA took over
it removed these nitrogen blan-
kets, which allowed the refin-
ing assets to deteriorate and
made it impossible to restart
the plant.
This means a new one will
have to be built, something
Leslie Miller, former minister
,of trade and industry, said
would require a $2 billion
investment and create 800 jobs.

T d Ise in Me l P~leII

I t1 I I

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

Starting August 2007

The Lyford Cay International School has positions
open in:

* Early Learning Center
* Elementary Classroom
* Chemistry
* Mathematics
* English & Humanities
* Spanish

If interested email to Dr. Paul Lieblich, Principal at

* Letter of Application
* Curriculum Vitae
* Picture of yourself

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

* Full responsibilities for all accounting activities including G/
L, A/P, A/R, Payroll & Purchasing
* Cash flow management, financial reporting, forecasting and
* 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 mahage-
ment to optimize budgets and financial forecasts
* Directly supervising accounting staff of 10
* Overseeing the day- to- day operation of the company
* 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
* 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 July 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


* 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



B dE


Minister: 'We should not have approved Bimini Bay'

FROM page 1

ees]; are you providing the other
amenities to keep the cost of living
down?" Mr Turnquest asked.
"And so you can look at an island
like Exuma, and talk about those
types of properties, and make sure
the density and the size of those
resorts fit into the island," he

"I'm advised here that the casino at
the Four Seasons Resort [in Exuma]
has not taken-off as originally expect-
ed, and it begs the question: 'Is a casi-
no really necessary for the sustain-
ability of a resort property in the Fam-
ily Islands?'
"I don't believe it is, but again
developers say they need a casino,
and so those are the types of issues we

need to address, rather than just hav-
ing these catch phrases about 'anchor
However, the $110 million Grand
Isle Resort and Spa has been lauded
by the business community as "the
example to follow" in the Family
Islands when it comes to business
At the grand unveiling of the new
$5.7 million penthouse at the Grand

Isle Resort and Spa ov6r the week-
end, Branville McCartney, minister
of state for tourism and aviation, told
The Tribune that the Government
must "look at what each island has
to offer" and ensure that future devel-
opments on Family Islands are in sync
with the needs of each community.
When asked about his Ministry's
position on the 'anchor resort' strate-
gy, Mr McCartney said: "There are

certain islands where large resorts will
do quite well, and other islands where
they won't do well.
"A huge development may not go
[over] well in Acklins, or Cat Island,
because of the nature of the commu-
nity or the people. We need to really
collaborate with the people of those
islands, and find out from them what
would be the best type of resort or
project [for the island]."


Ministry of National Security
Office of The Parliamentary Commissioner

Form of Declaration of Qualification

do Solemnly delee ha 2 ain qumtg9ed asc9dlnp tw tI "( to b eloot4 and to
serve as a iBasbw a titsuOK CvhCoimasu *Tomi&, amxieit lawTDIstrie
Or Tow" Am a at nav d ^ ftf ^^^y^ g^J

Da"red ago"d euafd bte *a.atlt dAwy of a a a

*W R3awi Rf pow":
a ob/t-sPsn

Form of Decl atlon of Qualification

do solemnly deMLa thaI 1 m'.qulde secrdhi g ve w to ba elected and to
serve as aMmbfr rIbw r*a D Mit Couil or ToWum'omittef tn the Dis*-nc.
or Town Am of m ay MOW i

Shansu r.e < ?dbnB Cart r'

Daoad upz dignl bdfa Ae. ods day *t1 l' I

F Sina o cTlrati of Qu lPeiia

Form of Declaration of Qualification

HtI &(4 P,;E4L P$4< ft.. ..

CM Am4co 5.4+4+.445

-.-- .........--- i -

do sole~aly declare the I ar. suUd acoominw to law to be elected and to
serve as a Member of the Di mct Council Town Coalmitdez in the Ditriae
orTown Arw of IPitTeouA ...

D*elrd and signed before mu, this W day of ftI

$iairWtte (ftii ce

Form of Nomination Paper
Election for District Council/Town Committee

We, ,he ~mandwriinad, being teiiered nvcts I t the said DisuricTown
AS t do eby M~ubit th t mmtido pr a.a de waid
tctleao. AAd we haeby ewr thu tto te beast of out kowinode i~p4 bfl fhte i
qualifed t rproumat ad st D1u4ictTown Ae a on:a eoquiOcaotit .

NOTE! The seman of o itwirodinag oradidmaa amrtd uftscwrinonsuViton p-pr
is dranu iO tVe iaaqitmM o*of LmOWl Qcoven Apme. IS, M -arndiung Sondmatio,
and pamuUeaarly to ho irequoiaam *n a dweaaation of quttioi(cauimU han detvoewd
#ad a depoi t of BS50.00 (Afty dollata) daU hbe mada o the BaRumftig OfIar on
ariBdoa day. A natBopen ppame age be ig4 Mry al tihn 1ave t(5) sbhrtheti.
Subwonbex sad a gmus babe stwei4ed to am pwnier~owning divuiien.

Form of Nomination Paper
Election for District Council/Town Committee

We, the undmerignesd. beig fginated as ve* n iht aid oidcvToi
Area. do hebitu a e&*auft 6as wa eadw msiaoni ptN an asi414ee at e aii
S eetitoi, and we Bhbbyeuenityuha to ahe bet of om)rfowlide lad buoefa he s
quaiTAfied t rprwawa the mid bDils trow ArM m :oa ownerfL'vamtee.
can4dm- .Qoth e 8 U.OlaHadnon
,amanR *JM( ar' a* v.=

NI4~awurc of fAve aubambatlua
** '2.

NOTE; TheBawUofon ttiadCg aidmtes and tubW4 sl rnminadon phyl
is daOwn to the aqudanmmes ottu I,aeLs Ovnwt AMt, A 6IM. l rpdinou nataxnou.
and pareuniady so 1* wq'uhwmmaa tat a dca&derton *r qtlfeaanrV. tn l h dnKvri*d
ad 4 dapoi"t of S$50.00 (4W dotAesw ) shalU h O %ede so ths BIaturnin Oftcer mO
WaoauWioa day. A nominaaiou ppe muan be signed by Ktees Lai a Ave (S) iubecribemr.
Su'setsrab. and oandnoe mWst be qWfa4 in the particular poUllin* divia&n.

Form of Nomination Paper
Election for District Council/Town Committee


We, Otht ndurij pd, bcm gistsrled as votos in te said Disict/Town
Ar, do hereby neinae the u ment d ppen as a cdidate a t th.a
election, mndwe hereby cardy that o the best of o r oowled a h belief r* i
qualied to represent the said DisutiotfTown Amre on hp coucWcoxxmBi6ee.



SIVpurUe of fire subscribers:


NOTE: The atendon of interdig candidates a sdm ubscrflbe of nomination papes
is drawn to the r.cqureo ese of th Local Goramne oAct. 1996, treguding n oinitione
and paiattady to the rquirfem Bs that a dalaidon of quaOlOB1on h06ll be delivered
and a depo"tt of SSO.00 (fty doflam) shet2 be mna tto do Rteturmtag Ote.c on
nonaition day. A ominatdon apep must be sdgaed by sAcLouthma Av (5) skbsariberi.
subseibWS tb D nominco W=st be Tegits4 i t(he particular polling divlca.

U ,I









S~L~c~L/drr ~c~kilir~l7~d~r


of aFC130~3412L

FlsAll~a VZ~n3146Ct

1--77- -- --T-lommommmom






PAGE 10B, TUESDAY, JULY 17, 2007


"."""" ".

sRCe :

Other name



* By Fidelity Capital
T- he Bahamian mar-
ket was bustling
with trading activity
this past week as
59,157 shares changed hands.
The market saw 13 out of its 19
listed stocks trade, of which
seven advanced, one declined
and five remained unchanged.
Volume leader for the week
was Freeport Oil Holdings
(FCL), with 13,000 shares
changing hands and account-
ing for 21.9 per cent of the total
shares traded.
The big advancer for the
week was Freeport Concrete
Company (FCC), up $0.05 or
8.47 per cent to close at $0.64.
Also advancing this week was
FOCOL (FCL), gaining $0.99

GN 534


Office of The Parliamentary Commissioner



In ACCORDANCE WITH section 17(6).of the Local Government Act 1996,
the Parliamentary Commissioner has assigned the following symbols to
Candidates in the Local Government By-Eolection to be held on Thursday,
2w August 2007.

South Abco Constituency, Pollng Division 2
Man-O-War Cay
Qa Of the Hope Town District, ..

International Markets

Weekly %Change
CAD$ 1.0480 -1.59
GBP 2.0342 1.34.
EUR 1.3784 1.87

Weekly %Change
Crude Oil $73.95 4.94
Gold $667.70 2.50

International Stock Market Indexes:
Weekly %Change
DJIA 13,907.25 3.72
S & P 500 1,552.50 3.27
NASDAQ 2,707.00 3.99
Nikkei 18,238.95 0.57

The Bahamian Stock Market

FINDEX 828.89 YTD 11.70%





$- .0



or 5.21 per cent to close at a
new 52-week high of $20.
On the down side, Fam-
Guard Company (FAM)
dropped $0.20 or 3.13 per cent
to close the week at $6.20.
For the week, the FINDEX
gained 14.40 points, to close at

Abaco Markets (AML) -.
Gavin Watchorn, president
of the retail store chain, has
said that if the present level of
profitability continues, the
company hopes to resume its
dividend payment to ordinary
shareholders by June/July
This announcement is wel-
come news to AML's ordinary
shareholders, who have
endured the volatile move-
ments in AML's share price
and earnings over the years.
Year-to-date, AML's share
price has appreciated by 162.3
per cent to close the week at
Consolidated Water
Company (CWCO) -
The firm has announced that
the company has been added
to the broad-market market
Russell 3000 Index, as well
as the small-cap Russell 2000
The Russell 3000 serves as
the US component to the Rus-
sell Global Index, which offers
investors a comprehensive set
of equity benchmarks that cov-
er worldwide investing oppor-


(Christopher Albury)

(Roy Vernon Russell)

(Frederick Andrews Sweeting)

Parliamentary Commissioner
13"' July, 2007



South Abaco Constituency Polling Division 2
Man-O-War Cay
Of the Hope Town District

NOTICE is hereby given that the candidates named below stand nominated in the
above mentioned election, and NOTICE is hereby given that the Poll will take place on
Thursday the 2* August, 2007, between the hours of 8:0 a.m. in the morning and6:00
p.m. in the afternoon in the following polling place:-

Polling Division
Polling Division No. 2


Polling Place
Man-O-War Public School

Other names
In Full


Places o

ALBURY Christopher Marine Manager Man-O-Way Cay

RUSSELL Roy Mechanic Man-O-Way Cay

SWEETING Frederick Store-Clerk Man-O-Way Cay

Date: 131 July, 2007

Sign: Revls Roll,

"Meeting the needs, of advertisers
and readers motivates me to do
a good job. The Tribune is
my newspaper."


The Tribune

144x Vw/

JSJ has declared dividends of $0.15 per share, payable on
July 16, 2007, to all shareholders of record date-July 9, 2007.
BBL has declared dividends of $0.01 per share, payable on
July 31, 2007; to all shareholders of record date July 16, 2007.
CWCB has declared dividends of $0.012 per BDR, payable
on August 8, 2007 to all shareholders of record date June

the ne s, redInigh

on Mondays.




- I

I Ut.iUAY, JULLr I/, 2007, PAGE 11B



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


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

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



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


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 well 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
Organisational skills
Flexibility in office hours and hands-on approach when necessary


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

4.74 per cent staff,

growth shows bank

sector's 'continued


Tribune Business Editor

the Bahamian
banking industry
increased by 4.74
per cent or 211 persons to
total 4,662 at year-end 2006,
something the Central Bank
of the Bahamas said showed
the industry's "continued
recovery" after a third succes-
sive year of staffing increases.
In its assessment of the eco-
nomic contribution made by
the financial services industry,
the Central Bank said banking
sector employment continued
to increase due to a combina-
tion of a broader range of
client services and compliance
with its physical presence
The number of Bahamians
employed in the banking
industry rose by 3.8 per cent
or 158 to total 4,368, account-
ing for 93.7 per cent of the
overall workforce, while expa-
triate workers increased by 22
per cent or 53 to total 294 per-
Employment growth in the
international banking sector
was stronger than for the
domestic industry, with the
offshore segment seeing an
increase of 7.6 per cent or 78
persons to 1,105, The staff
complement in the domestic
banking industry, which large-
ly includes the commercial
banks, rose by 3.9 per cent or
133 persons to 3,557.

Breaking these numbers
down, the Central Bank found
that in the international bank-
ing sector, the ratio of four
Bahamians for every expatri-
ate was maintained.
Bahamian employment in
international banking
increased by 4.1 per cent to
869 persons, compared to a
22.9 per cent hike in non-
Bahamian employment to 236.
In the domestic banking
industry, Bahamian employ-
ment increased by 124 persons
to 3,299, while expatriate staff
numbers grew by nine to 58.
During 2006, the Central
Bank said the difference or
spread between salaries paid
to staff in the international
and domestic banking sectors
narrowed by $908 to $24,312.
This was because domestic
banking salaries rose by 3.8
per cent to an average $43,195,
while those in the interna-
tional banking sector grew by
only 1 per cent to $67,507.
The Central Bank said that
for the first nine months in
2006, the combined asset base
for all Bahamian internation-
al banks and trust companies
had increased by 11.7 per cent
or $35.6 billion to $339.4 bil-
The total assets of Bahami-
an commercial banks account-
ed for just $7.8 billion of this,
but had risen by 12.1 per cent,
with combined profits up 27.9
per cent to $300.8 million. The
average return on assets
improved from 3.57 per cent

in the first nine months of
2005 to 4.02 per cent last year.
Total spending by the
Bahamian banking industry in
2006, according to the Central
Bank, rose by 10.5 per cent or
$44.6 million to $470.5 million,
a figure "significantly above
the average outlay of $421.7
million over the past five
years". It also reversed a 7.;
per cent or $32.9 million
decline in 2005.
Operational spending by the
Bahamian banking industry
increased by 9 per cent to $445
million, while administrative
costs grew by $19.4 million to
$195.9 million.
The higher wages and
employment levels, the Cen-
tral Bank said, saw total salary
expenses rise by 8.1 per cent
to $228.2 million, outpacing
2005's growth of 1.6 per cent
and the 2 per cent average
salary increases seen over the
period 2001-2006.
Banking sector spending on
staff training increased slights
ly to $2.8 million, while gov-
ernment fees earned by the
sector struck $18 million.
Capital spending, though,
increased by 45 per cent to
$25.5 million. The Centrat
Bank said: "In particular,
investments in land and office
equipment purchases rosd
strongly by 61.3 per cent,
along with a 28.4 per cent
expansion in investments-
related to new premises, as the
number of bank branches rose
by 16 to 111."


Wealth Maniagement
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.
Internationally recognized Financial Planning or Investment qualification (e.g. FPC or
Degree or professional qualification in Banking, Accounting, Law or Business.
A self- motivator and experienced team leader with a commitment to coaching and
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
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
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
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
Experience in lending and cross selling other banking products is desirable.
Salary commensurate with level 9 out of 11 pay levels
Benefits- comprehensive banking benefits, variable incentive pay (bonus) and preferred
loan rates
Applicants are requested to submit their resume with a cover letter via email'by July 20th,
2007 to: dennis.govan@firstcaribbeanbank.com
FirstCaribbean International Bank (Bahamas) Limited thanks all applicants for their interest,
however only those under consideration will be contacted.

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. O. Box N-7130
Nassau, Bahamas
Fax no. (242) 702 1253 or email: julie.benjamin@bsiob.com

Only applicants having the above attributes will be contacted.

PAGE 12B, TUESDAY, JULY 17, 2007