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Permanent Link: http://ufdc.ufl.edu/UF00084249/02955
 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: 7/31/2007
 Subjects
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
System ID: UF00084249:02955

Full Text








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The


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Volume: 103 No. 207


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TUESDAY, JULY 31, 2007





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RELETIG N ANAMGAE


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plans


Former minister

questions decision

by government


S By BRENTiDEAN
Tribune Stiff Reporter
FORMER Transport Minis-
ter Glenys Hanna-Martin has-
expressed concern over govern-
ment's decision to transfer man-
agement of kicurity services to a
private entity.
Mrs Hapna-Martin led the
opposition's contribution to the
amendment to the Airport
Authority Act yesterday in the
House of Assembly although
stating that she has no problem
with the transfer of fire services,
"Mr Sppaker, in the negotia-
tion process of the management
agreement we firmly concluded
that airport security would not
form part of the functions of the
management company and while
the agree nent makes some ref-
erence to the possibility, it was
not an option the government


was to pursue," she said,.
SMrs Hanna-Martin said that it
is unclear what security services
specifically the amendment
seeks to delegate that is,
whether it is to be passenger
screening, perimeter control or
oversight of the parking lot area.
"If it is proposed to divest the
airport authority and transfer
the responsibility for airport
security at the Lynden Pindling
International-Airport to NAD,
who will in turn contract
YVRAS. a private, commercial
foreign entity, then it has some
very serious implications and
raises some very serious ques-
tions of sovereignty and the pri-
inacy of security," she said.
, Mrs Hanna-Martin also raised
the question of whether or not
the powers of a peace officer -
SEE page eight


Citizen's arrests of suspected
illegal immigrants allegedly
made on Harbur Island
* By TANEKA THOMPSON
FRUSTRATED residents of Dunmore Town, Harbour Island
allegedly made three citizen's arrests of suspected illegal immi-
grants on Sunday night, The Tribune has learned.
According to Martin 'Lee' Grant, a group of about 12 men
went from door-to-door in Haitiah communities, asking individuals
if they had work permits, and apprehending those immigrants
who admitted to being on the island without "proper papers."
Between 7.15 and 7.30pm, the group made three citizen's
arrests and turned the suspected immigrants over to the Harbour
Island police station for processing, Mr Grant said,
Officer Johnson of the Harbour Island station told The Tri-
bune that she "had no knowledge" of the alleged citizen's arrests.
However, she said she was not on duty Sunday evening when the
SEE page eight
i !


* MINISTER of Edu-
cation Carl Bethel briefs
the media on the con-
struction taking place at
S C McPherson Junior
High School.
(Phot;ioTim Clarke/
Tribune staff)
0 By TANEKA
THOMPSON
GOVERNMENT
intends to "aggressively"
attack the "vexing and per-
sistent" problems facing the
country's educational sys-
tem, Minister of Education
Carl Bethel said on Mon-
At a press conference,
held on the school grounds
of SC McPherson Junior
High School, construction
was well underway on an
additional school structure
that would, according to
Minister Bethel, "accom-
modate the expected over-
flow caused by the massive
movement of persons into
southwestern New Provi,
dence over the last two to
three years."
Minister Bethel added
that more than $20 million
from the national budget
had been allocated to
improve the educational
structures and system in the
country.
"This is. but the first
phase of one of the antici-
pated rebuilding needs both
in southwestern New Prov-
idence, and throughout the
Bahamas, to accommodate
SEEpage eight


-- --=-.-
Minister responds to report
critical of public school system


SEBy ALISON LOWE
Tribune Staff Reporter
EDUCATION Minister Carl
Bethel yesterday sought to qual-
ify the results of an independent
report that compared the public
school system to "a horror
movie".
The report says the system
continues to turn out "function-
ally illiterate" individuals, but
according to Mr Bethel, there
is a "disconnect" between the


expectations of the commercial
sector and teachers when it
comes to evaluating students'
performance
"Let us say the question of
what the business sector would
call 'functional illiteracy' is a
question of whether the mass of
students reach their commercial
expectations rather than
whether they meet the expecta-
tions of teachers in terms of
SEE page eight


Former Immigraton Minister claims he was
'hoodwinked by Atlantis over wo ernnits


* By PAUL TURNQUEST
Tribune Staff Reporter
MANAGEMENT at Atlantis
intentionally 'hoodwinked' the
former Minister of Immigration
into granting work permits to
employees for positions that
they were not genuinely being
hired to perform. This claim was
made yesterday during the sit-
ting of the House of Assembly
by the former minister himself -
Golden Gates MP Shane Gib-
son.
Mr Gibson, who said that he
SEE page eight


* GOLDEN Gates MP
Shane Gibson.


Wilchcombe
calls for a select
committee to
look into media
SBy ALISON LOWE
Tribune Staff Reporter
FOLLOWING the announce-
ment made last week that The
Tribune, The Nassau Guardian
and The Freeport News, have
entered into a joint operating
agreement, Obie Wilchcombe,
shadow minister for tourism, has
suggested that a select commit-
tee should be set up to look into
the media.
One of the most vocal critics
of th joint operating agreement
(JOA), which took effect last
week, Mr Wilchcombe told the
House of Assembly on Monday
that he "intends to ask for a.select
committee to look into this whole
matter of the media because I
think it is important for us,"
A.select committee is general-
ly defined as "a legislative com-
mittee established for a limited
period that may be created by
.either house and may include
members of one or both houses to
study a specific subject area."
On Th u sday, Mr Wilchcombe
SEE page eight

Residents

robbed in

two home

invasions
By ALISON LOWE
Tribune Staff Reporter
TWO separate New Provi-
dence residents were robbed of
cash and personal items yester-
day when three masked gunmen
invaded their homes under cover
.of darkness.
This follows another string of
armed robberies over the week-
end, which police believe could
be linked.
Yesterday, when questioned
on the matter, Chief Superinten-
dent of Police Glenn Miller said
the "possibility exists" that these
home invasions despite being
carried out in different areas -
were perpetrated by the same
people who police suspect of
committing at least two, and pos-
sibly a third robbery, over the
weekend.
"Nassau is a small place," he
said.
It was at 1 o'clock on Monday
SEE page eight


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PM introduces amendment




on airport fire and security


* By BRENT DEAN
Tribune Staff Reporter
PRIME Minister Ingraham
yesterday moved in the House
of Assembly a bill to allow the
security and fire services at the
Pindling International Airport
to be delegated to the Nassau
Airport Development, which is
privately managed,
The bill amends subsection
two of section six of the Air-
port Authority Act allowing the
authority to delegate these func
tions,
As NAD is managed by the
Vancouver Airport Services, Mr
Ingraham responded to ques-
tions that his government is
abdicating sovereignty to'a for-
eign management company,


"The government is unable
even if it desired to do so, to
absolve itself of the responsi-
bilities held at the airport, No
matter the extent to which there
is a delegation of authority for
the management of the security
of the airport, the reality is that
overall responsibility for secu-
rity will continue to vest in and
remain in the government of
the Bahamas, It cannot be del-
egated by it," Mr Ingraham
said, adding that the day-to-day
management of the security ser-
vice, however, will be what is
delegated,
Along with the amendment,
Mr Ingraham added that his
government is considering
adding Marsh Harbour, Trea-
sure Cay, North Eleuthera,


Exuma and San Salvador air-
ports to the list of airports man-


aged by the Airport Authority.
"The extent to which the gov-
ernment would put out to bid
the management services of any
or all of those airports will be
determined by us in due
course," he said.
Updating the House on the
completion schedule of the
improvements to the airport,
the prime minister pledged:
A new US arrival and
departure terminal by March
2010.
A new international arrival
and departure terminal by
March 2011.
A domestic arrival and
departure terminal by March
2012.
Additionally, according to Mr
Ingraham, a new customer


parking facility able to accgm-
modate two thousand vehicles
will be completed by 2010.
The prime minister also said
that with this amendment, there.
will not be a change to the
involvement of various branch-
es of the police force in provid-
ing security to the airport.
However, foreshadowing fur-
ther adjustments to the struc-
ture of the airport's adminis-
tration, Mr Ingraham referred
to NAD as a "useless interlop-
er" in the committee phase of
the bill, expressing confidence
in the Airport Authority to car-
ry out the activities related to
the forward direction of the air-
port.
The bill was passed last
evening in the House.


Gray voices concerns over foreign



management of airport facilities


* By KARIN HERIG
Tribune Staff Reporter
THE government's amend-
ment to the Airport Authority
Act threatens the Bahamas'
sovereignty by opening up the
possibility of foreigners manag-
ing security at the Lynden Pit-
dling International Airport,
MICAL MP Alfred Gray said
yesterday,
Withholding his support for
the Bill for an Act to Amend
the Airport Authority in the
House of Assembly yesterday
afternoon, Mr Gray criticized
the FNM government for not
clearly specifying that the secu-
rity at the LPIA will always
remain in Bahamian hands,
The bill debated in parlia-
ment yesterday amends section
six of the Airport Authority
Act, removing the management
of security and fire services
from the Authority's portfolio
of responsibilities,
The amendment transfers this
responsibility to the Nassau Air-
port Company, which is owned
by the government and managed
by the Canadian firm Vancouver
Airport Services (YVRAS),


* ALFRED Gray


Mr Gray yesterday vehe-
mently opposed the amend-
ment, stating that he fears non-
Bahamians will be given the
responsibility of airport securi-
ty, thereby threatening the
Bahamas' sovereignty and cre-
ating an opening for national
security to be breached,
"The sovereignty of our coun-


* CARL Bethel


try is open to breach, I'm not
saying it will be breached, but it
is certainly open to breach.
"I oppose (the amendment)
because I believe it is a breach
of national security to put the.
security of the airport in the
hands of possible foreigners,"
he said,
The MICAL MP slammed


the government for not disclos-
ing yesterday which entity will
be responsible for airport secu-
rity in future.
"They have not disclosed who
(they) are going to get to secure
the airport. They. are seeking a
blank cheque so that we can
agree toit not knowing what
they intend to do, and then when


they do it, they will be able to say
'you voted for it'," he said.
Mr Gray said that in every,
other country visitors immedi-
ately see proof of a state's sov-
ereignty in the form of local
security officials stationed at the
airport and guarding the coun-
try's borders,
He said that Bahamians often
suffer from the mentality that
"foreign is better."
However, in the case of air-
port security, Mr Gray said,
Bahamians are more than capa-
ble of fulfilling the necessary
tasks to ensure the highest safety-
and security standards at LPIA.
The MICAL MP suggested
that government hire security
experts to provide Bahamians
with the required materials and
equipment to upgrade the air-
port's security,
Responding to the criticism,
Minister of Education, Youth,
Sports and Culture Carl Bethel
pointed out that every govern-
ment in the history of the
Bahamas has collaborated and
asked the assistance of outside
forces to ensure the highest lev-
el of security at the country's
borders.


Meteorologists concerned over two weather systems


* By KARIN HERIG
Tribune Staff Reporter
BAHAMIAN meteorologists
are eyeing two weather systems
which could potentially become
the season's third and fourth
named tropical storms within
the week,
The first sign that the 2007
Atlantic hurricane season is


heating up was a tropical wave
that developed east of the
Bahamas over the weekend,
Although this system fizzled
out over the course of yester-
day, there are two more systems
that could effect the Bahamas if
the necessary weather condi-
tions come together,
Chief meteorology officer
Basil Dean told The Triburne


yesterday that the forecast
office is keeping a particularly
keen eye on a system which is
currently still more than 900
miles east of the southern
Windward Islands.
Mr Dean explained that this
system is associated with a
strong tropical wave.
"Development would be
slow, but its likely to occur over


the ,next few days, so we are
watching that one very close-
ly," he said.
Mr Dean said that one of the
main factors for storm and hurri-
cane development is already in
place, with water temperatures in
the Caribbean currently at a "per-
fect" level to cause the strength-
ening of a weather system.
However, other conditions,


such as air pressure and tem-
peratures, are also necessary
before a storm develops.
The second system the depart-
ment is watching is an area of
low pressure just west/northwest
of Bermuda, which became
more organised yesterday.
"It has a potential of becom-
ing a tropical or sub-tropical
cyclone perhaps within a cou-
ple of days," Mr Dean said,
. Meteorologists, he added, are
expecting a busy storm season
to erupt soon.
Earlier this year, the Col-
orado State University (CSU)
predicted an active hurricane
season this year with 17 named
storms and nine hurricanes, of
which five are expected to be
intense storms of category three
strength and higher.
According to the CSU, warm
sea surface temperatures and a
diminishing El Nifio effect are
contributing factors in the high-
er than normal predictions.


OIn brief

Jamaica PM
suspends
talks after
rock* attack
* JAMAICA
Kingston
PRIME Minister Portia
Simpson Miller indefinitely
suspended talks with the
Caribbean island's opposition
after rocks were thrown at
her motorcade part of esca-
lating violence a month ahead
of national elections, accord-
ing to Associated Press.
People's National Party
General Secretary Donald
Buchanan.said Saturday that
the prime minister told sup-
porters of the decision dur-
ing a rally in the capital short-
ly after opposition activists
hurled rocks at vehicles car-
rying her and other candi-
dates on Friday.
Karl Samuda, general sec-
retary of the opposition
Jamaica Labour Party, called
for Simpson Miller to recon-
sider the decision, though it
affects only talks on easing
campaign' tensions because
Parliament has been sus-
pended ahead of the August
27 vote.
Police have increased secu-
rity for candidates after a
series of clashes at govern-
ment and opposition rallies
ahead of the election, when
the ruling party will seek a
fifth consecutive term in pow-
er.
Last week, an opposition
official died after being shot
by unidentified gunmen. A
Labor Party motorcade also
reportedly came under fire
recently, and a National Par-
ty office was firebombed last
month.
Electoral violence in
Jamaica dates'to the 1970s,
when politicians began arm-
ing residents of poor neigh-
borhoods to intimidate peo-
ple from voting for other par-
ties.

Metal thieves
strip power
station and
cut power

I PUERTO RICO
San Juan
SCRAP metal thieves
knocked out electricity to
thousands of people on Sat-
urday when they stripped
cables and pillars from a pow-
er substation in Puerto Rico,
according toAssociated Press.
Two high voltage towers at
a substation in Maunabo, a
southeastern town by the
Caribbean, were stripped
bare early Saturday by ban-
dits who carted away a large
quantity of aluminum, police
Lt. Carlos Rodriguez said.
The theft interrupted pow-
er to 13,000 islanders, though
it was restored within an
hour, Rodriguez said. There
have been no arrests.
Metal thefts have skyrock-
eted across the globe recent-
ly as the price for materials
such as aluminum and cop-
per have risen dramatically.
Thieves cash in at scrap yards
that recycle the metals.


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PAGE 2, TUESDAY, JULY 31, 2007


THE TRIBUNE






THE TRIBUNE


TUESDAY, JULY 31, 2007, PAGE 3


IBLOALNEWSI


0 In brief

Man faces
charge of
raping
woman
A 21-YEAR-OLD man
accused of raping a 25-year-old
woman was arraigned in Mag-
istrate's Court yesterday.
It is alleged that on Monday,
June 25, Alister Williams, of
Chenille Avenue had sex with
the woman against her will.
Williams, who was arraigned
before Magistrate Susan
Sylvester at court 11 in Nassau
Street, was not required to enter
a plea to the charge.
He was remanded in custody
and will return to court on Thurs-
day, which is when he is sched-
uled to attend a bail hearing.

Man accused
of trying to
have sex with
12-year-old
A 54-YEAR-OLD man
accused of attempting to have
sex with a 12-year-old girl was
arraigned in Magistrate's Court
yesterday.
James Williams of Canaan
Lane was arraigned before
Magistrate Susan Sylvester at
court 11 in Nassau Street on the
charge of attempted unlawful
intercourse.
It is alleged that the incident
took place on Friday, July 20.
Williams was not required to
enter a plea to the charge and
was granted bail in the sum of
$10,000.
The case was adjourned to
November 16.

Envoy to Haiti
denounces
increased
violence
* HAITI
Port-au-Prince
THE top UN official in Haiti
on Friday denounced a sharp
increase in lynchings and other
mob attacks, including the
killing of two innocent men as
they travelled to a wedding,
according to Associated Press.
SAt least six people were killed
by mobs in a single week in dif-
ferent attacks this month,
according to the UN mission's
human rights section. At least
105 people have been report-
edly lynched in Haiti since 2005.
"There has been a very large
number of lynchings in the past
months and weeks. We do hope
this will notbecome a trend,"
Edmond Mulet, the special UN
envoy to Haiti, told Associated
Press in an interview.
He blamed the rise in part on
a lack of confidence in Haiti's
notoriously corrupt judicial sys-
tem, which keeps hundreds of
people imprisoned without trial
while others who can afford a
bribe walk free.
"You have cases of gang lead-
ers being released after paying
judges," Mulet said. "The pop-
ulation knows, so they're fed
up... and they take justice into
their hands."
Mulet said the UN mission
will launch a campaign to remind
people that lynching is a crime,
and is urging church leaders to
denounce the practice.

Tribunal to rule
on oil feud of
Guyana and
Suriname
a GUYANA
Georgetown
GUYANA'S foreign minis-
ter said Saturday he expects a
U.N. tribunal to rule next
month on a feud with neigh-
boring Suriname over the rights
to an undersea basin that could
provide oil riches, according to
Associated Press.
Rudy Insanally said the UN
International Tribunal for the
Law of the Sea is reviewing oral
and written claims to the basin,
which experts estimate may
hold 15 billion barrels of oil and


natural gas.
Guyana sought a definitive
ruling from the tribunal in 2004
after talks with Suriname broke
down over sharing any produc-
tion from the basin, which
stretches hundreds of square
kilometers (square miles) from
the coasts of both countries.
The dispute brought Guyana
and Suriname close to war and
has blocked fuel exploration.
Suriname expelled Toronto-
based CGX Energy Inc. from
the basin in 2000, halting its oil
exploration under a Guyanese
licence.


* By NATARIO McKENZIE
FORMER BDM member
Omar Archer is reiterating his
calls for the establishment of
an independent committee to
investigate claims of police cor-
ruption and brutality follow-
ing allegations that a man was
severely beaten by an officer.
Last week, it was reported
in The Tribune that Desmond
Cay, 27, was left fighting for
his life in the Intensive Care
Unit of the Princess Margaret
Hospital after allegedly being
beaten by a police officer.
According to previous
reports, on June 27 Father's
Day the father of six, was
arrested on a traffic matter.
He was subsequently taken
into police custody at the
Grove Police Station where he
was reportedly "beaten by an
officer in his cell" until he was
unconscious.
It was alleged that the fol-


bowing day, Mr Cay was vom-
iting blood and was taken to
the hospital.
Last week, the family of Mr
Cay appealed to the public to
give blood to help their rela-
tive.
The family has filed a com-
plaint with the Complaints and
Corruption Unit of the RBPF
and the matter is now being
investigated
In a statement yesterday, Mr
Archer said that these allega-
tions bring to light the need
for the establishment of an
independent committee to
investigate allegations of police
brutality and corruption.
"I am now again calling for
the establishment of an inde-
pendent oversight committee,
a committee that will investi-
gate claims of police corrup-
tion and brutality in this coun-
try," he said.
Mr Archer claimed that such
reports against police officers


"contribute to the creation of a
very dangerous divide between
the young men in over the hill
communities and police offi-
cers.
"We must get serious about
listening to the concerns of the
general public," he said, claim-
ing that there are police offi-
cers currently committing
crimes and getting away with
it.
"That is why it is important
that we establish an indepen-
dent oversight committee -it's
a burning issue and needs to
be addressed," he said.
Mr Archer asserted that
having police officers investi-
gate other officers has proven
counterproductive, which is
why a committee comprised of
individuals who are not police
officers is necessary.
He also said that the officer
at the centre of the ongoing
investigation into the alleged
beating should be suspended.


* OMAR Archer


0*
I, * *~ 0 ** 0


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Fax: 326-9953
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e-mail: www.colesofnassau.com P.O. Box N-121


* By DENISE MAYCOCK
Tribune Freeport Reporter
FREEPORT PLP MP
Philip "Brave" Davis claims
that the PLP was "cheated
out" of the election.
He said he is confident that
the true results will be deter-
mined in election court, where
three FNM seats are being
contested by the PLP.
Mr' Davis, the MP for Cat
Island, was speaking in
Freeport on Friday at a town
meeting hosted by Senator
Pleasant Bridgewater at the
Marco City PLP headquarters.
He stated that the PLP is
exercising its democratic rights
under the constitution to
ensure that there has been "a
true election."
The PLP has filed a petition
in Election Court contesting
the election results in the Bail-
lou Hills and Pinewood seats
in New Providence, and the
Marco City seat in Grand
Bahama.
The opposition party, which
won 18 seats to the FNM's 23,


* By DENISE MAYCOCK
Tribune Freeport Reporter
GOLDEN Gates MP
Shane Gibson told supporters
in Freeport that while the
election battle of May 2 is
over, the war has just begun.
"We came here to remind
you that Senator Pleasant
Bridgewater is still in the bat-
tle for who is the real winner
for Marco City," he said at a
town meeting in Marco City
on Friday.
"We also come tonight to
call all PLPs to the front-line
of war. Yes, the battle was fin-
ished on May 2, but two
months later those FNMs
know that the war has now
just begun."
Mr Gibson claims that the


has been criticised for not
accepting the results of the
elections as the will of the peo-
ple. And, Bahamas Christian
Council president Bishop John
SHumes has said publicly that
the PLP's challenge is con-
tributing to lawlessness in the
country.
Mr Davis, a lawyer by pro-
fession, said that he was sur-
prised to hear leaders saying
that the PLP was contributing
to "anarchy," simply because it
was contesting the election
results.
"We know what to do of
having been cheated, and so
when you hear foolishness
about why you going to Elec-
tion Court, if you check the
history of the Bahamas the
FNM has filed more petitions
challenging the elections than
the PLP has ever done and
that is democracy.
"There is nothing wrong
with me saying hey, I am
cheated and have the evidence
to prove that you cheat that
is what the Election Court is
about.


FNM is on a mission is to
undo the good works com-
pleted by the PLP while it was
in office.
He claimed that Bahamians
are being released from gov-
ernment jobs everyday, and
those in the private sector are
having government contracts
taken away at the stroke of.
pen.
Mr Gibson also claims that
PLP MPs are facing "gang-
sterism" and bully behaviour
in the House of Assembly.
"Your PLP MPs are 18
strong in parliament ... and
are not afraid of the bark or
bite of the FNM pit bull
Hubert Ingraham," he added.
"And, we are calling on all
PLP soldiers men and
females, young and old to


"I was very surprised to hear
leaders of our country .... say
that we were may be con-
tributing to crime, anarchy,
and lawlessness going on in his
country because we decide to
go to a court that the constitu-
tion has ordained; that our law
has said if you have a com-
plaint that you can go to court
and have it looked into it," he
said.
Mr Davis said that Bahami-
ans need to understand that
the true will of the people will
be expressed by a court dec-
laration of who won what seat,
and particularly who truly won
the Marco City, Pinewood and
Baillou Hills seats.
He said that right and wrong
have no political party, and
encouraged PLPs to stand.firm
and strong despite the criti-
cisms.
"It is about knowing the true
results of our election, and we
have sufficient evidence to
demonstrate and show that the
court ought to examine to
make sure that it has been a
true election," said Mr Davis.


the front lines. The election bat-
tle is over, but the war has just
begun we are at war," Mr
Gibson said.


MP claims PLP 'cheated'


out of election victory


Gibson warns that war over

the election is just beginning


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Calls renewed for independent



body to investigate police claims



One-time BDM member calls for

committee to look into allegations of

police brutality after attack claimed


L.
Efc/ S d STOCKS^

FLITEN I EOlGb








PAGE 4, TUESDAY, JUL 31,2007HTHEDTRIBUN


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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

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

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


Atlantis chief denies Gibson story


IN THE House of Assembly last week Shane
Gibson criticised Atlantis, Paradise Island for
"bringing in foreigners to the Harbourside Resort
to sell time shares" when many Bahamians were
qualified to do the job.
He said he had a difficulty with Bahamians
and foreigners being "held to different stan-
dards" when-it-came to applying for the Har-
bourside Resort sales job.
Mr Gibson claimed that those in charge of hir-
ing sales agents created job specifications that
they knew Bahamians could not live up to so
that they could bring foreigners in to fill the posi-
tions.
When Mr Gibson sat down a government
member commented: "You're the one who did
it," reminding him that it was he, as immigration
minister, who approved the permits of which he
now complained. "I'm not doing it anymore," Mr
Gibson replied.
In the House yesterday Mr Gibson resumed
the subject. This time he accused Atlantis man-
agement of intentionally "hoodwinking" him
into granting work permits to employ foreigners
for positions that they were not genuinely being
hired to perform.
He said when Bahamian employees told him
that foreigners to whom he had given work per-
mits were selling timeshares, he denied it. "No,"
he told them, "they are not selling timeshares
because I was told that they would not be selling
timeshares."
He said that once he had discovered Atlantis'
"gimmick", he refused to issue any further per-_
mits for the resort. That is when, he.said, he
"sent that note when I told them that we would
not be approving any more names because they
misled me." (See page 1).
We smelled a rat. Frankly we did not believe
him, especially after the story he told the House
last year implicating a young lawyer who was
acting on instructions to deliver a cheque to pay
for the late playgirl Anna Nicole Smith's work
permit. In the Anna Nicole case the lawyer said
Mr Gibson Minister of Immigration'- was
with the playgirl when the Immigration cheque
was delivered. Mr Gibson said he was not. We
knew the lawyer involved. We believed her. We
did not believe Mr Gibson. So we have a back-
ground of doubt when it comes to Mr Gibson's
stories.
As Mr Gibson was still speaking on the floor
of the House yesterday we tracked Mr George
Markantonis, president and managing director of
Kerzner International Bahamas Ltd., to an air-
port waiting for a flight to return to Nassau.
He was amazed when he heard of Mr Gib-
son's claims.
Mr Markantonis said he has nothing to do


with timeshare sales. However, Starwood Vaca-
tion Ownership, a subsidiary of Starwood
Resorts, an Atlantis partner, which funnels its
timeshare applications through Atlantis' Human
Resources Department, telephoned him. They
desperately needed his help. Starwood told Mr
Markantonis that several staff had left, sales had
dropped and they were desperate because they
had no local staff with the necessary training to
carry on an aggressive sales campaign. They had
called Mr Markantonis because they could get
nothing through Immigration to urgently bring in
the required staff. In fact, he told Mr Markanto-
nis, Immigration seemed to be trying to obstruct
their business.
Mr Markantonis said he was not accustomed
to that type of sales business, but agreed to con-
tact the Immigration Minister. Mr Gibson went
to Atlantis to meet Mr Markantonis. Mr Markan-
tonis started to explain Starwood's special needs
and the type of sales staff required. According tO
Mr Markantonis, Mr Gibson cut him off.
, "Listen, you don't have to explain to me those
special skills," Mr Gibson told him, because, said
Mr Gibson, he had personally witnessed the sales
approach in Orlando. He recognized that it was
different with specialised training that Bahamians
did not have..He told Mr Markantonis to e-mail
him the list of names of staff required and he
would approve them.
Before leaving Mr Markantonis' office, Mr
Gibson said there were other positions in other
parts of\the hotel to which he had refused per-
mits. Mr Markanatonis said that one of those
was someone who had been with Atlantis'
casino for 25 years and had done nothing
wrong.
"But," said Mr Markantonis, "that was Mr
Gibson. He would pick and choose who he would
give permits to."
.And as for the note Mr Gibson told the House
he had sent to Atlantis informing the resort that
there would be no more permits because they
had misled him over the time shares, Mr Markan-
tonis said he knows nothing about it.
No such note had been sent tO him, he said. In
fact if one had, he would have been "forced to
escalate the matter to the prime minister's level."
"Frankly," said Mr Markantonis, "I find it
difficult that Mr Gibson could have said that."
"Here at Atlantis," he said, "we make our
best efforts to remain a-political. We don't get
involved in controversy among officials of either
political party. Atlantis does its utmost to main-
tain its reputation."
It is now up to our readers to decide who to
believe. If you believe Mr Markantonis, then
the House should question the story they have
been told by Mr Gibson.


I


The Bahamian





constitution





and citizenship


EDITOR, The Tribune.
THERE are some thoughts I
trust you allow me to share as it
relates to the Bahamas consti-
tution and citizenship. I have
always marveled at the dexter-
ity of the framers of the con-
stitution as it relates to the
grant of this sacred status to
persons seeking to become
Bahamians under the various
articles of the constitution.
Often missing in the discussions
is the focus on the spirit of the
Constitution in respect of this
subject. Having read these sec-
tions, it is my humble view that
the grant of citizenship is pur-
poseful, well thought out and
protective of the sovereignty of.
this nation (not unlike the oth-
er sections and the constitu-
tions of other countries).
In fact, it actually appears to
reflect a male led resolve con-
sistent with the overall tenor of
the Bible. In this context, one
can appreciate its thrust toward
male leadership, conferring of
citizenship by the male, and
male taking the female with
him often to his own coun-
try. Of course the exceptions
to the rule must be noted. Yes,
despite our shortcomings as a
nation, the sacredness of our
law originates with the Holy
Bible.
No doubt, of the many world
religions, the framers 'saw
Christianity as the best source
of values and tolerance for the
possibility of a tranquil society.
Apparently, serious considera-
tion was given to history and
the possible encroachment by
others on this tiny nation.
Therefore, the current laws
seem to anticipate these possi-
bilities even in 2007 and are pil-
lars for the protection of future
generations of Bahamians. To
remove any of those columns
would be to spur a population
growth hitherto has not been
seen before.
Therefore, despite arguments
put forth, we must carefully
consider the long term ramifi-
cations of weakening or alter-
ing any of these constitution
land marks, as it relates to the
grant of Bahamian citizenship.
Here seems to be an appropri-
ate place to endorse the prac-
tice that persons born to for-
eign parents in this country,
who have spent their entire life
here, being educated, acclimat-
ed and having accepted the cus-
toms, norms etc, should be giv-
Sen citizenship. These factors
solidify the spirit of being
SBahamian. Still, we must not
forget that these individuals can
readily obtain their parents
national passports from their
national embassy, if they are so
disposed. Often, as children,


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overlooked is the fact that their
parents can obtain their nation-
al documents and provide these
Bahamas-born children with
the rights and protection of
their parent's country. There
are, however, numerous exam-
ples of Bahamas-born children
being repatriated along with
their parents. At a period
before their nineteenth birth-
day they return to seek this
constitutional entitlement to
apply for registration as a citi-
zen of the Bahamas. At this
time the sincere issue of their
overall socialisation educa-
tion, language, holds traditions
and allegiance, etc, immedi-
ately surfaces. Essentially, a
stranger has come to your
house and is seeking all the
rights privileges and protections
of your home. Under these con-
ditions, the question arises
whether we are obligated to
issue any such status, particu-
larly that these individuals are
able to produce a passport from
their parent's home country.
Also, we must remember that
their socialisation and alle-
giances are likely reflect their
parent's country. The enormous
challenge of conclusively iden-
tifying 'these persons emerges
to ensure that who applies is
exactly whom they purport.
From the position of national
security the suggestions of the
Constitutional Reform Com-
mittee to require 10 year resi-
dence of these persons in order
to apply for this status is under-
stood. Editor, one must ques-
tion whether for expediency we
are preparing to alter the con-
stitution. Thus far it has char-
tered a course in our national
development that has produced
an orderly society. In fact, its
structure is biblically based. It
then seems that we have the
types of social ills due: to not
appreciating its spirit of order-
ly growth and development and
maintaining the enforcement of
its statutes.
In this context, one could
understand that like the bible,
our system of the conferral of
citizenship and even marriages
is patriarchic in nature. Hence,
generally males confer citizen-
ship and a married woman fol-
lows her man to develop and
repopulate his country of ori-
gin. Here the ebb and flow of
the tide seems to best describe
the spirit behind male and
female marriages to Bahami-
ans.
It is quite possible that the
constitutional writers envi-


sioned that futuristically the
Bahamas would be challenged
to regulate and grow the popu-
lation at a manageable rate.
Already, concerns over crowd-
ing of schools, an overburdened
health care system and erosion
of social services resources
challenges successive govern-
ments. So limits on work per-
mits seem to have been a strat-
egy for this structured popula-
tion growth as well. By balanc-
ing the labour needs of the
country for short periods, the
intent seemed to have been to
minimise the numbers of per-
sons eventually applying for cit-
izens as well. It seems then that
a deviation from this perspec-
tive has resulted in a popula-
tion explosion today.
Interestingly, the protocols
are in fact in place to address
these serious concerns. In my
humble opinion, the conditions
for citizenship as written were
not mistakes. It appears well
thought out. The writers essen-
tially, seem to have held a bib-
lical perspective in societal mat-
ters including grant of citizen-
ship and the foreigner/Bahami-
an marriage. As a part of the
structured growth of the popu-
lation, they clearly only wanted
to ensure that married Bahami-
an males and single Bahamian
females conferred citizenship:
Likewise, they clearly recog-
nised the foreign male spouse
and single foreign female also
conferred their national status
and the protection on their chil-
dren. While some clearly have
difficulties with these laws, we
must remember this country is
all that we have.
We must accord those who
qualify their just status. Clearly,
with the biblical perspective, it
appears our rules are designed
for the greater good. If it seems
discriminating it seems to me
it is this way of necessity, as it
suits our national security pur-
poses. Then one can success-
fully argue that for self preser-
vation, it is simply our rules.
Other nations have theirs and
of necessity their constitutions
are also their rules.
Otherwise, we have a free for
all and the Bahamas cannot
absorb the waiting numbers.
It then is apparent that the
creators of our constitution
document were indeed Bahami-
an visionaries of the highest
order. In view of their national
biblical position for the orderly
development of this society,
present and future leaders
ought to seriously consider our
method of building on this
sound foundation.
S TRAVAS SMITH
Nassau,
July 4, 2007.


NOTICE

NOTICE is hereby given that HARRY DORMEUS OF
BALFOUR AVEUNE, P.O. BOX N-3404, NASSAU,
BAHAMAS, is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization as a
citizen of The Bahamas, and that any person who knows any
reason why registration/ naturalization should not be granted,
should send a written and signed statement of the facts within
twenty-eight days from the 31ST day of JULY, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box
N- 7147, Nassau, Bahamas.




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PAGE 4, TUESDAY, JULY 31,. 2007


THE TRIBUNE









THE TINTEDIJY32


o In brief


Venezuelans
increasingly
seeking
asylum in US
* VENEZUELA
Caracas
GISELA Parra started trem-
bling behind the steering wheel
and nearly hit another car when
she heard the news over the
radio: She had been charged
with trying to overthrow Presi-
dent Hugo Chavez, according
to Associated Press.
Fearing she would end up
behind bars on what she says are
trumped-up accusations, she
boarded a private yacht in the
middle of the night and escaped
to the Dutch Caribbean island of
Curacao, her gateway to the Unit-
ed States and political asylum.
"I went into shock because I
never imagined that something
like that could happen to me,"
Parra told The Associated Press
by phone from Palmetto Bay,
Florida, where she is among a
growing community of
Venezuelan asylum-seekers in
the Miami region. "It was at
that moment that I understood
the Cubans who leave on rafts."
Parra is among more than
3,700 Venezuelans who have
been granted asylum in the Unit-
ed States since 1999 claiming
political persecution. The U.S.
government, no friend of
Chavez, happily accepts many
of them, but many more are cur-
rently in the United States ille-
gally and could face deportation.
Chavez vehemently denies
persecuting opponents, saying
many have broken the law
while trying to topple him.
"Nobody is persecuted here,"
Chavez said in a recent inter-
view with the AP. Dozens of
fugitives wanted for crimes in
Venezuela are living in the U.S.,
he said, many of them "putting
on the mask of saying 'I'm
being persecuted politically."'
He accused the U.S. of grant-
ing safe haven to hard-liners
who publicly call for his assas-
sination.
Five congressional Republi-
cans Jerry Weller of Illinois,
,and.Lincoln Diaz-Balart, Ileana
'Ros-Lehtinen, Mario Diaz-
Balart and Connie Mack of
Florida have asked U.S. Pres-
ident George W. Bush to grant
temporary legal status to
Venezuelans living in the Unit-
ed States illegally.
"There's no doubt that some
people from Venezuela may
have very strong claims for asy-
lum," said attorney Ira.
Kurzban, an immigration expert
in Miami. But "many claims are
simply based upon Chavez lead-
ing the country toward social-
ism, which in and of itself is not
a basis for asylum," he said.
SIn 1998, the year Chavez was
first elected, the United States
granted political asylum to only
14 Venezuelans, according to the
U.S. Office of Immigration Sta-
tistics. Last year the figure was
1,085, compared with 2,431 from
Haiti and 1,508 from China.
Parra was chief of Venezue-
la's Judiciary Council a gov-
ernment body that wields
administrative control over the
courts until Chavez allies
sacked her in 1999. During a
2002 coup attempt, she and
more than 20 others attended
the swearing-in of a prominent
business leader as interim pres-
ident, but loyalists in the mili-
tary thwarted the plot and
restored Chavez to power.
In March 2005 she was
charged with rebellion and
decided to flee. "I was a good
example, used so they could say
to others: 'Look what happened
to her,'" Parra said. She was
granted political asylum in
November 2006.
Another exile in Florida is
university professor Vilma
Petrash, 48. She said that weeks
after the coup, a Chavez sup-
porter confronted her at a
protest and warned that "some-
thing bad could happen" if she
continued her political activism.
Then a note was left on her
office door: "Vilma Petrash,
coup-plotter, terrorist, we don't
want you in this university."
Phoned threats followed, one
of them from a man who said he


knew where Petrash's 5-year-
old son attended school, and
that he might be kidnapped.
Business leader Carlos Fer-
nandez said he was swiftly tar-
geted for his role in a 2003
strike by oil workers, business
groups and labor unions orga-
nized by the opposition. He said
masked gunmen speaking
Cuban-accented Spanish seized
him one night and whisked him
to a secret police headquarters
where he was stripped naked
and pushed into a dark cell. He
was released the next day, but
then the anonymous threats
began, he said..


Tourism minister meets Harbour



Island residents over concerns


* By TANEKA THOMPSON
A FEW high-ranking gov-
ernment officials met with res-
idents of Harbour Island yes-
terday to address the growing
illegal immigrant problem still
plaguing the small communi-
ty, sources told The Tribune.
They said the Minister of
Tourism and Aviation, Neko
Grant, along with MP for the
area Alvin Smith, had a "pri-
vate meeting" with a few resi-
dents of the island to take
stock of their mounting con-
cerns.
This alleged meeting co-
incided with a public demon-
stration in the heart of Dun-
more Town that took place on
Friday evening. According to
protest leader Martin 'Lee'
Grant, around 50 additional
people joined the group of
concerned citizens that
demanded national attention
to the growing social problems
on the tiny settlement.
The Tribune was first to
report about a previous
demonstration held in Harbour
Island earlier this month, that
highlighted the many frustra-
tions Brilanders felt over the
lack of police and immigration
presence in response to the
"escalating" problem.
According to sources, Har-
bour Island residents conduct-
ed a citizen's arrest of three
suspected illegal immigrants


on Sunday night after becom-
ing "fed up" with the situation.
The three persons were
reportedly turned over to local
authorities.
Patrick Barry, an accountant
who is employed with Civil
Aviation and Public Treasury
in Harbour Island, voiced his
concerns to The Tribune.

Complaints

"We have an escalating
social problem on the island -
and nobody's doing anything
about it," he said. "Complaints
have been made to authorities,
and nobody seems to listen."
Mr Barry believes that the
immigration department in
Northern Eleuthera is not
understaffed, but that they sim-
ply do not patrol the areas at
night, when the majority of ille-
gal immigrants roam the island
freely after completing'their
day's work.
"All they have to do is
implement a shift system," Mr
Barry said. "I was told that
provisions was made for an
officer to be stationed at our
branch in Harbour Island I
asked for two men to be sta-
tioned here, they say they have
provisions for one, and this is
July, I am hoping and praying
that they live up to it."
He and other demonstrators'
are at odds with Harbour


Island landlords and business
persons who, they claim, know-
ingly hire and house illegal
workers. Mr Barry admits that
Brilanders are a part of the
problem.
"I went down to immigra-
tion about two or three weeks
ago, and I was told the same
thing that the Harbour
Islanders don't want to get rid
of the [illegal immigrants].
They say the locals are housing
them and supplying employ-
ment for them. Now if that is
the case then you have to come
up with another solution to
counteract this."
Mr Barry implored for the
government to enact laws hold-
ing any landlord or employer
legally accountable for hous-
ing and/or employing illegal
immigrants.
"It's time for action to be
taken no more talking -
action. The previous govern-
ment did nothing, the immi-
gration department did noth-
ing it is time for action."
Another local chimed in:
"Before the natives take
-action."
The new administrator for
Northern Eleuthera was out of
office on Monday and was
unavailable for comment up to
press time.
Mr Grant and Mr Smith
could also not be reached for
comment, as parliament was
in session.


Appeal for community centre

to halt spiralling murder rate


A COMMUNITY organi-
sation is appealing for the gov-
ernment to fund a help cen-
tre to help tackle the escalat-
ing muder rate.
Forty-nine persons have
been murdered so far this
year, mostly young men at the
hands of other young men.
The National Committee
for Revival and Renewal
(NCYRR) believes that the
youth must become the
national priority in order to
fix the murder problems.
"This year we are celebrat-
ing 12 years of community
work to the youth of the
nation, and for the past 11
years we have attempted to
enlighten the successive gov-
ernments concerning real, sub-
stantive programmes for
national youth development
but it has fallen on deaf ears,"
stated NCYRR president, Ali
McIntosh.
Mr McIntosh expressed


great concern for clear vision
to the problem of the troubled
youth, crisis and crime man-
agement.
"The property in our back-
drop has been the subject of
intense negotiations between
us and the government of the
Bahamas three years or so,"
he said. "We request this
building to provide facilities
to manage the component of
the Hope Centre programmes.
This building will be a safe
environment for the release
of any youth related pro-
grammes.
Mr McIntosh said that the
building will be a 24-hour hot-
line for frustrated young peo-
ple, and will be a resource cen-
tre for any kind of problem
that young persons face. "We
expect that when a youth, not
just a teenager, walks into a.
building, he will not leave
without some answers or some
forecast to a solution."


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SMr McIntosh urged the pub-
lic to imagine the Hope Centre
building being a place of hope
and resource for trouble youth
and this, she said, "can only
happen if the government gives
us this building."
"All of this will help to erad-
icate the devious and most grue-
some crimes that are commit-
ted by the youth," she said.


M NEKO Grant


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TUESDAY, JULY 31, 2007, PAGE 5


THE TRIBUNE










P EUD JL327HTB


Six Bahamians awarded OAS




university scholarships


SIX Bahamians have been
awarded university scholarships
by the Organisation of Ameri-
can States.
The students will pursue
courses in the Caribbean, the
United States and Canada.
Deputy Prime Minister Brent
Symonette said that the pro-
gramme complements the gov-
ernment's efforts to provide ter-
tiary education opportunities
for Bahamians.
"Since the Bahamas became
a member of the OAS in 1982,
the OAS has granted full schol-
arships every year to Bahamian
citizens to pursue higher edu-
cation at the bachelors, masters
and doctoral levels," Mr
Symonette said.


"A small developing country
cannot provide such education-
al opportunities from its limited
resources, and therefore the
government is appreciative of
this type of programme that our
multilateral and bilateral part-
ners offer," he said.
The five persons receiving
OAS scholarships are:
Judy Bosfield masters
degree in social work with a
focus on children and family
services
Sophia Miah masters
degree in geographical infor-
mation systems
Ebone Blyden masters
degree in environmental engi-
neering
*- Aneka Rolle masters


degree in international trade
and finance
Cameron Lightbourne -
masters degree in fisheries sci-
ence
Philece Huyler bache-
lor's degree in criminal justice
and forensic science.
Mr Symonette urged the
students to take full advantage
of the opportunity to learn all
they can, strive for excellence
and upon their return, play a
role in the further develop-
ment of the Bahamas.
"This scholarship represents
the only opportunity to com-
plete your tertiary education,
and I know that you had to
endure a very competitive
process to obtain this scholar-


ship," he said.
Juliet Mallet-Phillip, OAS
country representative to the
Bahamas, said the Inter-
Agency for Co-operation and
Development (IACD) within
the OAS, administers one of
the hemisphere's largest multi-
national fellowship and train-
ing programmes.
The agency continues to
examine ways to increase the
number of awards and training
opportunities given and to
expand access to knowledge
through greater use of infor-
mation technology, Mrs Mal-
let-Phillip said.
"In 2004, records show the
OAS awarded 421 graduate fel-
lowships alone, 50 per cent more


fellowships than in 2001; how-
ever. the cost of maintaining the
high number of awards could
not be supported by existing
budgetary allocation," she said.
In 2006, the undergraduate
and graduate programmes
were temporarily suspended,
Mrs Mallet-Phillip explained.
But it was reinstated after the
IACD reviewed the manage-
ment of the programme with a
view to making it more respon-
sive to capacity needs of mem-
ber states, identifying innovating
mechanisms for improving the
cost-effectiveness of the pro-
gramme and to serve to expand
access to higher education, pro-
fessional development and
eventually technical training.


Greenhouse technology workshop held


* PARTICIPANTS listen as Minister of Agriculture and
Marine Resources Larry Cartwright officially opens the Depart-
ment of Agriculture and the University of Florida's greenhouse
technology workshop yesterday at the British Colonial Hilton
Hotel.


SBethel Brothers Morticians
Telephone: 322-4433, 326-7030
Nassau Street, P.O.Box N-1026



Carl Crasene Russell Jr., 33

of Franklyn Ave.,
Chippingham will be held
on Thursday 10:00 a.m. at
Ascension Methodist
Church, Prince Charles
Drive. Rev'd Dr. Laverne
R. Lockhart will officiate.
Cremation will follow.

He will always be kept in
loving memory by his
l Dloving and compassionate
mother, Barbara; father,
Carl Sr.; stepfather,
Athelston "Teddy"
Grazette; soul mate,
Stevana "Wana" Basden; sisters, Phebee Dureny-s
Coleby, Christelle Sturrup, Carlesha Chrishene Russell-
Johnson, Adanaca, and Driskell Russell, Taney Winters,
Carlene Russell-Miller; brother, Carlis Davis; brothers-
in-law, Cyrus Miller, Julius Winters, Derek Coleby,
Chryslin Sturrup Jr.; sister-in-law, Lawanda Johnson-
Russell; aunts, Deloris, Althea, Eleanor, Rachael,
Sybiline, Vivienne, Judy, Sophia, Eureka, Brenda,
Lilly, Lisa Lockhart, Judy Wemmys, Anna Green,
Charlene Dorsey, Asaneth Strachan, JL Thompson;
uncles, Lemuel, John, Reggie,. Anton Lockhart,
Inspector David Lockhart, Rev. Dr, Laverne Lockhart,
ASP Kendal Strachan, Henry Wemmys, Calvin Russell,
Williard Charlton Morley; grandmother, Gwenth
Lockhart; nieces, Alexus, Romanica, Inshyra, Inaria,
Ashley, Destinee, Ckye, Dejanee; nephews, Chryslin
Sturrup III, Jaovannie, Domanique, Wesleys Jr., Carlis
Jr.; cousins, Keith, Geno, Susie and Dwight Russell,
'Guatamo, Tabitha, Clifton, Chandel, Ricki, Devon,
Marvin, Charlton Jr., Shawn Brinette, Dye Spencer,
Jackie, Monique, Sophia,, Keva, Perry, Valentino,
Celeto, Crystal, Audra, Giora, C. J., Victorine, Christie,
Christopher, Joanne, Madison, Aramando, Michael,
Christine Michael Jr., Lynden, Latoya Rolle, Lynden
Jr., Brent, Chantell, Brent Jr., Dion, Sharon, Lajuan,
Twana, Nicholia, Nadia, Christina Hanna, Richardo,
Peter, Ian, Patrice,,Leslie, Danielle, Denise, Andrew,
Eileen, Andriel, Arien, Ariel, Darvin, Archie Jr., Jaden,
Calvin Jr., Raven, David Jr., Tatianna, Antonia, Lanette,
Shenique, Aaliyah, Ingrid, Ackreba, Keisha, Lamarque,
Lanique, Gregory, Stacy, Darrell, Alice, Coby, other
relatives and friends including, Fontane Dureny, Sonia
Hamilton, Rosalyn Dames, Majorie Johnson, Petra,
Marilyn Stubbs, Wayne and Beandra, Michelle Taylor,
Kristen Butler, Ramon Strachan, Daisy Armbrister,
Ken Bain, Quinten Bowe, Daphne, Danny, Vincent,
Dwight "Rice" Knowles and family, Rolle family,
Gloria Young, Paula Brown, Vincent Dean, Carl Taylor,
Bill Saunders and Majestic Tours staff, British Colonial
Hilton Management and Staff.

Friends may pay their last respects at Bethel Brothers
Morticians #44 Nassau Street on Wednesday from
11:00a.m. to 6:00 p.m. and at the church on Thursday
from 9:00 a.m. until service time.


* LARRYCartwright meets farmers at the greenhouse lechnolog) workshop
(Photos: BIS/Tim Aylen)





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o In brief

Transexual
enters Puerto
Rico municipal
assembly race
* PUERTO RICO
San Juan
A PUERTO Rican transsex-
ual said Wednesday her candi-
dacy for a seat in a municipal
assembly is a sign that the US
island territory has become
more tolerant, according to
Associated Press.
Barbara Santiago Solla, who
was chosen by the pro-state-
hood New Progressive Party for
a slate of municipal assembly
candidates in the city of Caroli-
na, said Puerto Rican society
has evolved so that voters an
accept someone who has
changed their sex.
"I don't think discrimination
will be a factor," Santiago said
in an interview. "I think this is
something Puerto Rico wanted,
to take a step forward."
Santiago, 59, said she had
surgery to become a woman 35
years ago in New York and
legally changed her gender in
her public records in her native
Puerto Rico.
If she wins in next year's elec-
tions, she will be one of 16
members of the Municipal Leg-
islature in Carolina, one of sev-
eral cities that make up the San
Juan municipal area.
Santiago, who has never
before held elected office, is a
longtime Carolina resident who
said that if elected she would
like to concentrate on improv-
ing public security and fighting
drug addiction, alcoholism and
domestic abuse.

Firm to continue
operating
terminal in
St Lucia
ST LUCIA
Castries
ST Lucia and Hess Corp.
have extended an agreement
that allows the energy company
to continue operating a fuel
transshipment terminal in the
Caribbean nation, according to
'Associated Press.
The new agreement, which
extends an option to build an
oil refinery in St. Lucia, was
announced late Tuesday by
Acting Prime Minister Stephen-
son King during a televised
speech.
Under the new agreement,
New York-based Hess will pay
the St. Lucian government five
cents for every barrel of crude
oil stored at the terminal and
10 cents per barrel of refined
product.
The previous agreement,
which was to expire in 2013,
paid St Lucia 2 cents per barrel
of crude and 4 cents for refined
products. The new agreement
expires in 2057.
A subsidiary of Hess oper-
ates the Hovensa oil refinery
with a subsidiary of Petroleos
de Venezuela SA, the Venezue-
lan state-owned oil company,
in the nearby US Virgin Islands.

Fissure in
ocean floor
roils seas off
Trinidad

* PUERTO RICO
San Juan
A MUD-SPEWING fissure
in the ocean floor that has
roiled waters off the coast of
Trinidad and Tobago is a poten-
tial hazard that small boats
should avoid, authorities said
Thursday, according to Associ-
ated Press.
Gas bubbling up from the fis-
sure could reduce buoyancy and
sink vessels in the area, which
was discovered Monday five
miles (eight kilometers) north-
east of Trinidad, according to
the Caribbean nation's coast
guard. An advisory has been
issued for small boats.
"If you have a boat sailing
close by, it wouldn't be a good
idea," said Richard Robertson,
a seismologist at the University
of the West Indies in St. Augus-
tine.


The fissure is not considered
a risk to erupt and expel lava
like a traditional volcano.
Several so-called mud volca-
noes have developed around
Trinidad and Tobago, due in
part to sediments deposited by
rivers from nearby South Amer-
ica, Robertson said.



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THE TRIBUNE


PAGE 6, TUESDAY, JULY 31, 2007


F"
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THE TRIBUNE


TUESDAY, JULY 31, 2007, PAGE 7


L N


0 In brief


Caribbean

frets over

drop in

American

tourists

* SAN JUAN, Puerto Rico

THE turquoise waters and
white-sand beaches of the
Caribbean appear to be los-
ing some of their allure for
U.S. tourists, according to
Associated Press.
Americans who flocked to
the islands in record numbers
until recently are finding new
destinations or staying home,
leading to declines of more
than 10 percent this year in
islands including Jamaica, St.
Lucia and Grenada.
Governments have aimed
marketing pitches at Canada
and Europe to compensate
for slippage in the American
market, which accounts for
about 60 percent of the
region's vital tourism busi-
ness.
"The trickle-down effect is
huge," said Richard Kahn, a
spokesman for the Caribbean
Tourism Organization. "In
the long run, this could mean
the loss of jobs throughout
the Caribbean."
A new passport rule has
discouraged some travelers.
Americans returning by air
from the Caribbean were
required to present the docu-
ment'beginning earlier this
year, although the U.S. is
temporarily accepting proof
of application because of a
backlog.
But even U.S. territories
unaffected by the new securi-
ty measure have seen
declines the number of
Americans visiting Puerto
Rico dropped 9 percent in
January compared with the
same month last year, and
the U.S. Virgin Islands saw a
7 percent drop.
Some simply want more
exotic destinations.
"A lot of the larger islands
are reaching that point where
their market has been there,
done that and is looking for a
different experience," said
Cheryl Carter, a tourism
instructor at Florida Interna-
tional University.
Ken Zapanta, a 30-year-old
Californian, said he and his
wife enjoyed their visit to
Barbados two years ago but
they cannot justify another
Caribbean trip.
"Once was enough," he
said. "The beaches, you can
get that anywhere."
The number of American
visitors dipped in the months
after the Sept. 11, 2001,
attacks before surging more
than 10 percent over four
years. Last year, U.S. tourists
staying overnight reached a
peak of 11.5 million, accord-
ing to statistics from the Bar-
bados-based CTO.
Terrorism fears boosted
the Caribbean's appeal as a
safe, nearby destination, said
Joe Goldblatt, senior lecturer
at Temple University's
School of Tourism and Hos-
pitality Management. Over
time, more U.S. tourists
began visiting distant conti-
nents.
Facing uncertainty over
when trends might reverse,
Caribbean officials are focus-
ing promotional efforts else-
where.
Jamaica, hit by a 12 percent
drop in American visitors this
year, has started advertising
more in Canada and Europe,
said Basil Smith, Jamaica's
tourism director. A strong
euro helped boost European
visits by 22 percent through
April, he said.
The "spice island" of
Grenada arranged for the
German airline Condor to
offer weekly service year-
round instead of only in the
winter, said tourism board
spokesman Edwin Frank. St.
Lucia is negotiating with
British Airways and Virgin
Atlantic Airways to provide


more flights.
Some analysts argue U.S.
tourism will rebound quickly,
attributing the recent decline
in part to a sluggish U.S.
housing market that has cut
into Americans' spending.
But others fear the new
passport requirement could
haunt Caribbean resorts for
years.
"Once an American has
now got a passport, the world
is their market," said Alec
Sanguinetti, chief executive
of the Caribbean Hotel Asso-
ciation. "They can go any-
where."


Conference identifies tourism development



as threat to regionally endangered species


YESTERDAY the Society for
the Conservation and Study of
Caribbean Birds, the largest sin-
gle regional organisation devoted
to biodiversity conservation, end-
ed its 16th meeting in Old San
Juan, Puerto Rico.
The five-day conference
focused on the impact of global
climate change on Caribbean
birds and its people, and the
increasingly politically charged
threat of hotel development to
native biodiversity, among oth-
er issues. Leading organizations
represented described the state of
affairs as a crisis.
The meeting was stunned by
reports of what appears to be an
unprecedented move by some
Caribbean governments to
change the legal status of previ-
ously protected remnant conser-
vation sites in order to facilitate
development.
Chief among these examples
were two cases both involving
the high-end luxury hotel chain -
Four Seasons Hotels and Resorts
Group. In Grenada, the govern-
ment is in an advanced state of
plans to sell that nation's Mount
Hartman National Park to the
group.
The Mount Hartman National
Park, established in 1996, was
created to safeguard that island's
critically endangered national
bird, the Grenada Dove. Studies
have shown that around a quar-
ter of the pre-hurricane Ivan esti-
mate of just 180 remaining indi-
viduals of this species are restrict-
ed to the small coastal Mount
Hartman property, making the
conservation of this area vital for
the species' survival.
In Puerto Rico, the Northern
Ecological Corridor, documented
habitat for globally threatened
species such as the Caribbean
endemic West Indian Whistling-
Duck, the migratory Piping
Plover, and an important nest-
ing site in the Caribbean for
Leatherback Turtles is likewise
proposed for development by the
Four Seasons.Group.
The Northern Ecological Cor-
ridor of Puerto Rico is a remnant
natural area within the now
degraded El Yunque National
Forest Reserve. Protected since
1876, El Yunque became one of
the earliest forest reserves known
to exist in the Western Hemi-
sphere ., ,
The forest is the main habitat
for the Puerto Rican Parrot
(Amazona vittata), a critically
endangered species, and is pro-
posed as an Important Bird Area
(IBA) for Puerto Rico.
Similarly, in the Dominican
Republic, a new law that changes
limits and categories of some pro-
tected areas has been created to
develop hotels in ecologically sig-
nificant places like Bahia de las
Aguilas coastal area. This site,
within the Jaragua National Park,
is part of the Jaragua-Bahoruco-
Enriquillo Biosphere Reserve
that also includes two other parks
that together form one of that
nation's richest areas for biodi-
versity. Again, the strategy has
been to undermine the legal pro-
tected area status to facilitate site
development.
Local NGOs have pursued the
case in the Supreme Court to
object the constitutionality of the
new law, but their case has been
overruled.
Andrew Dobson, President of
the SCSCB, remarked that the
situation is a massive leap back-
wards at a time when the con-
servation of both forest and
coastal areas, especially man-
groves, is critical to mitigate cli-
mate change impacts. He noted
that the trend would only under-
mine the Caribbean's reputation
as an environmentally friendly
destination, and set the region
up for an intensive battle with


* THE globally threatened Piping Plover
(AP FILE Photo)


global conservation advocates.
Mr Dobson notes further that:
"Caribbean forests will suffer sig-
nificantly more from climate


* (Photo: Felipg Major/
Tribune staff)


Share

your

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


change if catalysed by short-sight-
ed development, and the biodi-
versity they house will be among
the greatest casualties because


over 85 per cent of the
Caribbean's natural forests have
already been destroyed by
human action."
Mr Dobson pointed out that
in the latest and most decisive
report from the United Nations'
Intergovernmental Panel on Cli-
mate Change (IPCC) released
this summer, the Caribbean
islands are at great risk from both
the short and medium term pro-
jected impacts of global climate
change.
In a plenary address, ecologist
Dr Lisa Sorenson described the
projected impacts of global
warming in the Caribbean region.
These include warmer ocean
temperatures, more intense
storms and hurricanes, sea level
rise, and increased summer
drought.
Dr Sorenson noted that the


Caribbean's coral reefs, coastal
mangroves and forests provide
the region with goods and ser-
vices valued at billions of dollars
from fisheries, dive tourism, cro-
sion control, carbon storage, and
shoreline protection services, to
name but a few.
"Widespread, poorly informed
development for tourism and the
early stages of global warming
have already diminished these
important resources," said Dr
Sorenson.
The meeting, attended by par-
ticipants from 22 countries,
included scientists, university pro-
fessors, eco-tour operators, envi-
ronmental educators, foresters,
NGOs, government agencies, and
the US Department of the Inte-
rior, was hosted by the Puerto
Rican Ornithological Society
(SOPI).


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PAGE 8, TUESDAY, JULY 31, 2007


THE TRIBUNE


Robberies

FROM page one
morning that the first break-in occurred at a
home on Breezes Road, in Fox Hill. The male
resident was robbed of jewellery and cash by the
three assailants who he described as "masked".
Later, at around 4.30am, three men again
entered a house on Allan Drive, off Carmichael
Road. The men were also described as being
masked, this time with the added detail that this
disguise took the form of cloths tied around the
lower half of their faces.
The men took cash and jewellery again, as
well as other personal items such as the residen-
t's cell phone.
According to Chief Supt Miller little other
details about the men's appearance were given.
Saturday's armed robberies took place over a
period of around six hours. In the first instance,
an armed man held at bay a female cashier and a
security guard at around 4.05pm as he stole
around $2,000 cash from a convenience store on
Market Street.
Later, at about 11.45pm, a man and his girl-
friend were accosted in Washington Street by
two males who had their faces half covered with
cloths. The.woman's handbag was stolen.
Finally, around half an hour later a 65-year-old
was approached by two men in East Court, Cen-
treville, who took from him his wallet and some
jewellery.
On Sunday Mr Miller said police were seeking
the White Sentra which the man who committed
the first robbery was said to have fled in, although
the two victims of the convenience store inci-
dent were unable to note the licence number.


FROM page one Wilchcombe


claimed the country has taken a
step backwards in allowing one
media "entity" to gain control
over the dissemination of news.
. He said that considering the
political views of Tribune pub-
lisher Eileen Carron chair-
man of the new group and
her support of the FNM, this has
essentially created a monopoly
where only the views of the gov-,
erning party would be reported
to the public.
Yesterday, Mr Wilchcombe
said: "What's important is for us
to ensure that what emanates,
from this place...is not misrep-
resented...because I have seen
that on many occasions from this
place and from other places, and
I am very concerned about that,
very concerned."
He suggested that some kind
of media "watchdog" is impor-
tant if democracy in this country
is not to be "compromised."
"It's so important that we do
not...compromise the work of
the media in this country, and
that we demand from the media
in this country fairness (and)
accuracy and to ensure that our _


democracy continues to grow,"
he told the House of Assembly.
At a PLP meeting in Marco
City last Thursday Mr Wilch-
combe told supporters that if his
party were the government they
would not have allowed The Tri-
bune, The Nassau Guardian and
The Freeport News, three pri-
vate business entities, to.sign a
JOA.
Such a JOA has been
described by those involved ii
forging it, including Tribune,
publisher Eileen Carron, as a
sensible business move intended
to cut operating costs on the part
of both papers, through sharing
resources, costs of production,
printing and distribution.
Mrs Carron andgroup deputy
chairman Emanuel Alexiou of
The Nassau Guardian have
emphasised that each newspa-
perwill "maintain their separate
identities with competitive news-
rooms and distinct editorial poli-
cies."
However, Mr. Wilchcombe,
along with others, has called on
government to immediately


Airport security

FROM page one
that is, the power to take action, or make arrests
- will now be conferred to private commercial
firms, which she suggested would he a radical
new precedent.
In further questioning gox ernment's amend-
ment, the former transport minister asked what
is to come of the $19 million the government
has spent on security, which was to be reim-
bursed through the recently implemented air-
port security fee.
"If the responsibility is being transferred to
this private commercial entity who will collect
the fee, how is it intended the government will
recover its outlay?" she asked.
In the context of moves in the US. Canada
and the UK for governments to take increased
roles in airport security in a post September
11th world, Mrs Hanna-Martin questioned if
government was fulfilling its obligation to the
community in tabling the amendment
"The challenges posed by airport security
cannot be the basis for abdicating the state's
responsibility for the protection of its people
and instead placing it into the hands of a private
commercial entity, which incidentally does not
even have this responsibility at its flagship and
home airport of VancouN er airport," she said,
concluding her remarks by asking the govern-
ment to present a "clei i conception" of
what they specifically iniend to do so that
the issue can be p opc.ily debated in the
House.
Government's amendment was passed in
the House.


intervene, ds well as on tlhe pub-
lic to4obby their MPs about the
issues, and evcn boycott compa-
nies which advertise in the news-
papers
Yesterday. Prime Minister
Hubert Ingraham questioned Mr
Wilchcombe s suggestion that in
signing a JOA the two papers
will lose their separate editorial
identities.
Mr Ingraham said that during
a trip to Ireland in 1993, he was
made aware that one major
newspaper there "prints most of
the daily newspapers in Ireland."
But, he said, "that doesn't mean
they. control them.
"So why do you think that an
agreement to publish or print
newspapers by one newspaper
for the other will result in a
monopoly, will result in an edi-
torial authority passing to one
set of hands, will result in one
set of news, why do you think
so? If you have a reason please
tell me," said Mr Ingraham.
Mr Wilchcombe responded
that there is a "reality in our
country right now" and if efforts
are not made to preserve democ-
racy and the media "there's no
point complaining about it when
its too long gone `


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Alleged citizen's arrests


FROM page one

arrests were reported to have
been made.
Before the alleged arrests,
locals staged a public demon-
stration at 6 pm in response to
government's lack of interven-
tion on the social problems
affecting the island. Mr Grant,
organizer of the protest, told
The Tribune that locals were


"wound up" after the demon-
stration and decided to take
matters into their own hands.
He added that the group of
demonstrators calling them-
selves "Brilanders Against Ille-
gal Immigrants" are planning
to march from the area of
Broadway to Dunmore and
Clarence Streets on Thursday
in an effort to attract
government's attention to the
island.


Education problems

FROM page one

the structural needs of the system of education," Minister Bethel said.
"Prior to today's investment that overflow of persons had not really been
addressed by the previous government...in the space of just over one
month, we have raised these buildings and are now about to cap them off
with rafters, put the roofs on, finish them, and hopefully have them
(ready) for school opening."
The new building will house 12 new classrooms and an administration
block, with a projected completion date scheduled for August 21, 2007,
Minister of Works and Transpbrt, Earl Deveaux told members of the
media.
Minister Deveaux boasted over the expedient work performed by the
Bahamian contractors hired for the project, who in just over a month, had
brought the structure to a two-story standing, with the roof expected to
be "put on" by the end of Monday. The project was approved by gov-
ernment on June 29,2006.
He added that there were nine contractors on site to oversee reno-
vations to the existing school that include repairing roofs, replacing
floor and ceiling tiles, repainting the school, and "doing the other mod-
ifications" necessary to accommodate students for the upcoming school
year.
Minister Deveaux also noted that his ministry was confident that all
government schools currently under repair would open on time in Sep-
tember.
"We executed approximately 162 contractors prior to schools clos-
ing...half of the contractors were in the schools on the day schools
closed," he said. "The latest report we had was half of them were more
than 75 per cent finished, about 15 per cent have actually finished the
work that they are doing, and on Thursday we have a review, and the
Minister of Education and myself, based on the review we get on Thurs-
day, will determine where we have critical flash points."
"As of today we are satisfied that there will be no school that will be
left unopened in September due to want of repairs," Minister Deveaux
said.


FROM page one

being able to deal with basic skills
so there's something of a dis-
connect between the two," he
said.
The claims about the failure of
the system were made in.a pre-
sentation to an education con-
clave last week by the Coalition"
SFor Education Reform, a group
- whose members include
numerous, unions, as well as the
Chamber of Commerce and the
Nassau Tourism and Develop-
ment board dedicated to
reforming the Bahamian educa-
tion system.
Presenting the report,J Barrie
Farrington said that the Bahamas
is facing a social failure of
"immense social consequences"
as studies carried out by the
Coalition showed 80 per cent of
graduating students in poorly-per-
forming New Providence high
schools failed mathematics in
2006 and more than one third
were deemed to be illiterate as a
result of their English language
scores.
The report condemned the
process of "social promotion" -
which allows students to move up
a grade despite not meeting basic
performance standards stating
that it was "destroying discipline
and crippling the learning
process."
Despite seeming to play down
the report's claims as it relates to
students' literacy levels, Mr
Bethel said that the Ministry of
Education is "very committed to
addressing the concerns of the
business sector and addressing
the needs of Bahamian students
to equip them and be able to
properly move smoothly from the
classroom to the workplace."
While speaking of several
efforts his ministry was taking to
improve the system, Mr Bethel
placed emphasis on the role of
parents in ensuring their chil-
dren's years in education are
fruitful.
"As much as we would love the
classroom to fill all the defects in


Minister responds
society the classroom cannot act
as a substitute for committed,
connected and concerned parents,
and I urge every Bahamian par-
ent to really think deeply as to
how they can become more
deeply involved in the education
and social experience of their chil-
dren."
:The coalition's report noted
that a dysfunctional Bahamian
society where a large number of
households are headed by a single
parent, who is a woman, and are
empty of positive father-figure
role models was affecting male
education levels in particular.
Some 35 per cent fewer boys
than girls took BGCSE exams in
2006, and 50 per cent less received
A or B grades.
The minister said that his min-
istry is committed to examining
the curriculum to ensure that it is
not "overloaded" and "has an
appropriate balance between the
desire to give a wide range of
experiences to children and the
need to focus on the core areas of
literacy-numeracy."
However, he also stressed that
there is no "magic bullet" to rem-
edy the problems in education,
adding that officials in the min-
istry of education would seek to
make "incremental" progress
"every day, every week, every
month and every year."
Such improvements could be
achieved by addressing class sizes,
implementing a "school quality
assurance programme", which
would allow empowered district
superintendents and other admin-
istrators to access funding to
address weaknesses, and
examining the curriculum, he
said.
As it relates to the curriculum,
Mr Bethel said he could not give
a timeline over which changes
may be made.
He said that such changes are
not "a matter which a politician
can determine" and will require a
"broad level of consultation" with
education professionals.


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Former minister

claims he was

'hoodwinked'

by Atlantis over

work permits

FROM page one

was "hoodwinked" by
Atlantis, stated that once
he had discovered the gim-
mick that the internation-
ally renowned hotel was
playing on him, he refused
to issue any further permits
for the premises.
"What I found out was
when they saw me, and
applied for individuals as
sales executives, I was
told at that time that
these persons would not
be selling timeshare," Mr
Gibson began.
Another MP asked,
"So they hoodwinked
you?"
Mr Gibson: "Absolute-
ly they did. They did.
Absolutely. And they do
it all the time. They are
not the only ones, Mr
Speaker. They are not
the only ones.
"When the employees
came to me and the
employees told me, 'Mr
Minister do you know
that these individuals
you gave work permits to
were out selling time-
share?' I said, 'No, they
are not selling timeshare
because I was told that
they would not be selling
timeshare'.
"When I found out
that they were in fact
selling timeshare, that is
when I sent that note
when I told them that we
would not be approving
anymore names because
they misled me. And so
the fact of the matter is,
when they told me ini-
tially, they told me the
individuals would not be
selling timeshare. That is
why I approved the work
permits.
"But once I found out
they had hoodwinked
me, I changed the posi-,
tion and said thatW 'w
would not be approving;
anymore of those. And
that is the position," Mr
Gibson said.
To this, National Secu-
rity Minister Tommy
Turnquest, who is
responsible for Imiigra-
tion, said that MPs in the
House of Assembly
should always attempt to
speak the truth.
Jumping to his feet,
Mr Gibson questioned if
Mr Turnquest was in fact
implying that he had
lied.
Mr Turnquest then
rephrased his remarks.
"Mr Speaker, the
Member for Golden
Gates can tell us whether
he ever sold timeshares
in the United States of
America. Whether he
told Atlantis, Harbour-
side, the Kerzner people.,
whether he understood
what was required and
that they should just
send him the list of
names and he would
approve it. He can say
whether he did that or
not.
"The member of
Englerston (Glenys Han-
na-Martin) likes to say
'we have the files now,
we know everything that
happened'. Yes we do.
have the files now," Mr
Turnquest said to mem-
bers' uproarious laugh-
ter.
Mr Turnquest com-
mented that his absence
as a member of the
House from 2002 to 2007
allowed him the oppor-
tunity to observe the
PLP move from opposi-
tion to government and
see how they acted in
both capacities.
"Now they want to
pretend that everything
they did was above


board," Mr Turnquest
said. "The one thing no
one will.ever say about
me, sir, is that I will take
any favour or bribe for
approving permits. That
is one thing they will
never say about me," he
said.
Mr Gibson replied that
he had no difficulty with
Mr Turnquest's state-
ment adding, "because if
I ever become Minister
of Tourism, I would nev-
er let anyone pay for my
party as no bribe either.
I would never let that
happen."
See Editorial page 4.


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$37,950.00
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THE TRIBUNE


TUESDAY EVENING JULY 31, 2007

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

PBS Previews: Nova "Family That Walks on All The Life of Birds by David Atten- Wide Angle "Dishing Democracy"
B WPBT The War Fours" An impoverished family in borough Bizarre, but often beauti- Arabic TVs all-female talk show
(CC) Turkey walks on all fours. [ ful, mating rituals. n (CC) "Kalam Nawaem." (CC)
The Insider (N) NCIS "Escaped" An escaped convict BigBrother 8 Houseguests partici-48 Hours Mystery n (CC)
B WFOR n (CC) threatens a friend of Gibbs. 1 (CC) pate in the veto meeting. (N) n
________________________(CC)
Access Holly- America's Got Talent The top 10 contestants com- The Singing Bee Law & Order: Special Victims Unit
SWTVJ wood (N)(CC) pete. (N) n (CC) (N) C (CC) "Recall" (CC)
Deco Drive On the Lot A filmmaker leaves; the House "Insensitive" A snowstorm News (N) (CC)
S WSVN. remaining filmmakers present their leaves the ER short-staffed on
films; Gary Ross. (CC) Valentine's Day. A (PA) (CC)
Jeopardy! (CC) Just For Laughs Just For Laughs Shaq's Big Challenge (Season Fi- Primetime: Family Secrets (Series
A WPLG man relieves (N) ) (CC) nale) Thousands gather to see the Finale) (N) (CC)
himself. final test. (N) (CC).

:00) CSI: Miami Dog the Bounty Dog the Bounty Dog the Bounty Dog the Bounty Cris Angel Criss Angel
A&E MIANYC- Non- Hunter Ticket to Hunter (CC) Hunter Award; Hunter Protective Mindfreak Mindfreak Ani-
Stop" (CC) Ride" (CC) drug user. (CC) community. Scams, (N) (CC) mal illusions.
Hardtalk BBC News World Business BBC News Our World "Bitter BBC News World Business
BBCI (Latenight). Report (Latenight). Sweet"Cocoa. (Latenight). Report
BET Hell Date (N) *** LOCKDOWN (2000, Drania) Richard T. Jones, Gabriel Casseus. Baldwin Hills (N) SO.B,: Often-
B T (CC) Three friends land in prison after a wrongful conviction. (CC) (CC)sive Behavior
C C Just for Laughs Rick Mercer Re- Little Mosque on The Second City's Next Comedy CBC News: The National (N) (CC)
CBC Gags (CC) port (CC) the Prairie Legend "Kreskin vs. Sean" (N)
N0) On the Fast Money The Millionaire Inside: Get In- The Big Idea With Donny Deutsch

S (:00)The Situa- Paula Zahn Now (CC) Larry King Live (CC) Anderson Cooper 360 (CC)
CNN tion Room
Scrubs "My The Daily Show The Colbert Re- Reno911! Con- South Park Mov- Mind of Mencia Mind of Mencia
COM Bright Idea" With Jon Stew- port(CC) traband fireworks. ing on up to "ER Carlos." (CC) Cityanimals.
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COURT Cops "Resisting Cops "Coast to Cops "Coast to Forensic Files Forensic Files Dominick Dunne: Power, Privilege
COUR Arrest 3" (CC) Coast" C (CC) Coast" f (CC) & Justice "Over the Edge"
The Suite Life of * THE COUNTRY BEARS (2002, Comedy) Christopher Walken, That's So Raven Life With Derek
DISN Zack & Cody n Stephen Tobolowsky, Daryl Mitchell. A talking bear tries to reunite his fa- "Unhappy Medi- "Slacker Mom"
(CC) vonte rock band. n 'G' (CC) um" C (CC)
DIY This Old House Home Again Sweat Equity (N) Bathroom Ren Bathr o- 10 Things You Trade School
l DIY (CC) (CC) nations nations Must Know (N)
DW Beckmann ML Mona Lisa Journal: Tages- Politik direkt Journal; In Euromaxx
them Depth
E! The Daily 10 (N) Glamour's 20 Wedding Do's and Forbes 20 Most Expensive Cel- The Simple Life The Simple Life
____Don'ts ebrity Weddings Goes to Camp Goes to Camp
NFL Lie(Live (Live) 2007 World Series of Poker From 2007 World Series of Poker From The Bronx Is Burning "The Seven
ESPN (CC) Las Vegas. (Taped) Las Vegas. (Taped) Commandments" (N) (CC)
P I Bull Riding: Karate Elite XC. (Taped) Soccer Emirates Cup --Arsenal vs. Inter Milan.
ESPNI XtremeBulls
TN Daily Mass: Our Mother Angelica Live Classic Religious Cata- The Holy Rosary Threshold of Hope
E T N Lady Episodes logue
FI TV :00) Cardio Blaine's Low Blaine's Low NamasteYoga Namaste Yoga Body Challenge The contestants
FT TV Blast C(CC) Carb Kitchen Carb Kitchen Spine. (CC) Sluggishness. begin to look and feel better.
FOX NC Fox Report- The O'Reilly Factor (Live) (CC) Hannity & Colmes (Live) (CC) On the Record With Greta Van
C heard Smith Susteren (Live) (CC)
FSNFL :00) MLB Baseball Colorado Rockies at Florida Marlins. From Dolphin Stadium in Miami. Inside the Mar- The FSN Final
(Live) lines Score (Live)
GOLF Inside the PGA Best Ever (N) Fore Inventors Only Fore Inventors Only (N)
GOLF Tour
GSN Camouflage Dog Eat Dog n (CC) Without Prejudice? (CC) Camouflage Camouflage
GSN (CC) (CC) (CC)
G4T (:00) Attack of X-Play (N) X-Play Cops 2.0 "At- Cops 2.0 Road- Ninja Warrior Ninja Warrior
G4TeCh the Show! (N) lanta"' C(CC) block. n (CC)
M*A*S*H "Rally Walker, Texas Ranger Walker trav- * AVENGING ANGEL (2007, Western) Kevin Sorbo, Cynthia Watros,
HALL Around the Flag els back in time to prevent an injus- Nick Chinlund. A bounty hunter seeks revenge against a murderous
Boys" (CC) twice from recurring. l (CC) landowner. (CC)
Buy Me Ci (CC) Green Force Desig Inc. Din- Sarah's House Take It Outside Urban Outsiders Designer Guys
HGTV Schoolyard.(CC) ing room ets an Sarah creates a (N) C (CC) Awkwardly Bedroom eti-
update. (CC)" stylish room. C shaped yard. A quette. A (CC)
IN P Morris Cerullo Breakthrough Christ in Inspiration To- Life Today (CC) This Is Your Day The Gospel
(CC) Prophecy day (CC) Truth
Reba Cheyenne My Wife and According to According to Friends The Everybody Everybody
KTLA turns down Kids "Fartasy Jim "About a Jim Chery tries One With the Loves Raymond Loves Raymond
Brock's offer. Camp" (CC) Girl" (CC) to surprise Jim. Football" (CC) ,C (CC) n (CC)
Still Standing Reba Reba se- Reba Anger man- IDENTITY THEFT: THE MICHELLE BROWN STORY (2004, Docudrama)
LIFE Brian prepares to cretly gets laser agement therapy Kimberly Williams-Paisley, Annabella Sciorra, Jason London. A woman
leave home. eye surgery. n session, faces a nightmarish battle to restore her good name. (CC)
MSNBC (:00Hardball Countdown With Keith Olber- MSNBC News Live Lockup California's Valley State
c mann (Live) Prison for Women.
Jimmy Neutron: Drake & Josh SpongeBob Funniest Home Fresh Prince of Fresh Prince of Fresh Prince of
NICK Boy Genius "Little Sibling" SquarePantsC Videos Bel-Air Bel-Air Bel-Air
NTV New Adv.-Old NCIS An escaped convict threatens The Singin Bee Canadian Idol News (N) C News
Christine a friendof.Gibbs. C (CC) (N) C (CC) Results. (N) n (CC)
SPEED Pinks American Thun- Epic Ride (N) Motorcycle Racing AMA Motocross Motorcycle Racing AMA Motocross
SPEEDder -- Lakewood. Lites -- Lakewood.
(5:00) Macedon- Behind the Joyce Meyer: JohnHagee To- Bill Gaither (CC) Macedonian Call Annual fundrais-
TBN ian Call Scenes (CC) Enjoying Every- day (CC) ing event.
day Le (CC)
Everybody Everybody Everybody The Bill Engvall Everybody Everybody Everybody
TBS Loves Raymond Loves Raymond Loves Raymond Show "HowBill Loves Raymond Loves Raymond Loves Raymond
"Favors" (CC) "P.T. & A"(CC) C (CC) Met Susan" (N) "Faux Pas C Frank is jealous. "Sister-in-Law"
Mostly True Sto- Sports Disasters "Extreme Danger" Miami Ink "Viva Las Vegas" Ami Miami Ink "Nothing Lasts Forever"
TLC ries: Urban Leg- Car race; whale-watching; base- and Nunez travel to Las Vegas. Ami and Nunez try to balance the
ends jumping; speedboat. (CC) shop and the bar..
(:00 Law & Or- Law & Order "Shrunk" Detectives Law & Order "Positive" A gunman The Closer "Four to Eight" Two His-
TNT er DR 1-102" suspect an award-winning song- seeks revenge for the death of his panic teens die in a racially motivat-
C (CC) (DVS) writer of murder. (CC) (DVS) baby sister. C (CC) (DVS) ed gang-shooting. (CC)
TOON Pokemon: Dia- Courage the Camp Lazlo Home for Imagi- Grim Adven- Courage the Naruto
mond and Pearl Cowardly Dog nary Friends tures Cowardly Dog
TV5 00) Tout une ONF, un survol Un portrait de industriese agro-alimen- La Grande histoire descartes La Invit6 de mar-
TV5 histoire taire. 'cartographie du monde. que
T"r C Storm Stories Abrams & Bettes Weather: Evening Edition (CC)
(:00) Yo Amo a Amar sin Limites Un hombre lucha Destilando Amor S.O.S, Sex6 y Otros Secretos Un
UNIV Juan Querend6n para salvar a la mujer que ama. retrato de la vida modema de la mu-
jer latina.
(:00) Law & Or- Law & Order: Special Victims Unit Law & Order: Special Victims Unit * 2 FAST 2 FURIOUS (2003,
USA der: Criminal In- A sexual predator is slain by an in- A murdered girl leads detectives to Action) Paul Walker, Tyrese, Eva
tent (CC) tended victim. C (CC) a suspicious doctor. (CC) Mendes. (CC)
VH1 100 Most Want- 100 Most Wanted Bodies "Hour 4" 100 Most Wanted Bodies "Hour 5" Rock of Love With Bret Michaels
ed Bodies Bodies 40-21. C Bodies 20-1. C "Motocross" Relay race. n
VS World Combat TapouT (CC) TapouT (CC) TapouT (CC)
VS League
G 00) America's Funniest Pets & Funniest Pets & Funniest Pets & Funniest Pets & WGN News at Nine (N) C (CC)
WGN Funniest Home PeopleC (CC) PeopleC (CC) People C (CC) People C (CC)
Videos C (CC)
Everybody Gilmore Girls Rory gets a call from Beauty and the Geek The geeks CW11 News at Ten With Kaity
WPIX Loves Raymond The New York Times offering her an must sketch a portrait of a nude Tong, Jim Watkins (N) (CC)
Cl (CC) interview. C (CC) woman; another elimination. (CC)
K Jeopardy! (CC) Dr. Phil n (CC) News (N) Jeopardy! (CC) Frasier Frasier Frasier Frasier
WSBK narrates a docu- and Bulldog in
mentary. (CC) auction. C (CC)

(6:00)E* s The Bourne Ulti- * INSIDE MAN (2006, Suspense) Denzel Washington, Clive Owen, (;45) Rush Hour
HBO-E YOU'VE GOT matum: HBO Jodie Foster. A cop matches wits with a bank robber. C 'R' (CC) 3: HB First
MAIL (1998) n First Look (CC) Look (N)
(6:00) ** THE John From Cincinnati The citizens I ** TWO FOR THE MONEY (2005, Drama) Al Pacino, Matthew Mc-
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(2006) 'PG-13' safety. (CC). rolling gamblers. C\ 'R' (CC)


(6:45) MY SUPER EX-GIRL- Assume the Po- ** YOU'VE GOT MAIL (1998, Romance-Comedy) Tom Hanks, Meg
H BO-W FRIEND (2006) Uma Thurman, sition 201 With Ryan, Parker Posey. Two bitter business rivals conduct an online love af-
Anna Fans. n 'PG-13' (CC) Mr. Wuhl (CC) fair. C 'PG' (CC)
(:15) ** MONSTER-IN-LAW (2005, Romance-Com- * THE DEVIL WEARS PRADA (2006, Comedy) Meryl Streep, Anne
H BO-S edy) Jennifer Lopez. A shrewish woman clashes with Hathaway, Adrian Grenier. A recent college graduate lands a job at a
her son's fiancee. C 'PG-13' (CC) fashion magazine. Cr 'PG-13' (CC)
(6:30) *FAIR ** THE FAST AND THE FURIOUS: TOKYO (:45) Sin Salida **P THE OH IN OHIO (2006)
MAX-E GAME (1995) DRIFT (2006) Lucas Black, An American street racer (CC) Parker Posey. An unsatisfied woman
Cindy Crawford. takes on a Japanese champion. 'PG-13' (CC) seeks sexual fulfillment.
(:00) * MR. & MRS. SMITH (2005, Action) Brad GRANDMA'S BOY (2006, Comedy) Doris (:35) GHOST IN
MOMAX Pitt, Angelina Jolie. A husband and wife are assassins Roberts, Allen Covert. A man must live with his grand- A TEENY BIKINI
for rival organizations. Cl 'PG-13' (CC) mother and her two friends. (C 'R' (CC) (2006) 'NR'
(:00) * BAD NEWS BEARS (2005, Comedy) Billy Meadowlands (iTV) Danny launch- 2001 MANIACS (2005) Robert En-
SHOW Bob Thornton. iTV. A former baseball player coaches es an escape plan. C (CC) glund. Cannibals terrorize college
misfit Little Leaguers n 'PG-13' (CC) students in a Southern town.'R
(:00) *' DREAMLAND (2006, CALIFORNIA DREAMING (2007, Comedy-Drama) ** THE HONEYMOONERS
TMC Drama) Agnes Bruckner, Kelli Gar- Dave Foley, Lea Thompson. Unforeseen obstacles (2005, Comedy) Cedric the Enter-
ner. n 'PG-13' (CC) stand in the way of a family's road trip. 'NR' trainer. n 'PG-13' (CC)


TUESDAY, JULY 31, 2007, PAGE 9


SOille Sli .eS i VOL:
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-"

















kids's faces.



B3,li,,I yoL, cl ild,'e,, to tlfe

McHC ppy loL, at McDonlild's in
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i.,ontl of Au ,LJLSt 2007.









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PAGE 10, TUESDAY, JULYO31,L2007NTHESTR IB


New director of education



at Lyford Cay Foundation


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THE Lyford Cay Foundation
has announced the appointment
of veteran educator and schol-
arship administrator Monique
Hinsey as director of educa-
tional programmes and alumni
affairs.
Mrs Hinsey has served as
manager of the foundation's
special scholastic assistant
search programme and alumni
co-ordinator for the past seven
years, seeking opportunities for
deserving Bahamians to attend
colleges abroad with scholar-
ships provided by the institu-
tions.
In her expanded role, Mrs
Hinsey assumes responsibilities
previously held by Roger Kelty
who retired in April after near-
ly a half century as an educa-
tor and scholarship administra-
tor.
"The Lyford Cay Foundation
is delighted to announce the
appointment of Monique Hin-
sey as director of educational
programmes and alumni
affairs," said foundation presi-
dent, Stuart Ray. "We do not
believe that we could have iden-
tified a better candidate. Mrs
Hinsey is familiar with our goal
to make academic and voca-
tional education available for
qualified Bahamians through
every means available, whether
by funding scholarships or help-
ing students acquire grants and
financial assistance from other
sources, including their colleges
and universities.
"Mrs Hinsey has been a
steady proponent of maximis-
ing the'potential of our 1,600
alumni, many of whom are
community and business lead-
ers."
One of her immediate goals,
Mrs Hinsey said,lis to broaden
the public's awareness and
understanding of the founda-
tion's scholarship programmes.
"I want to make the founda-
tion's name synonymous with
career development and


N MONIQUE Hinsey


advancement as well as tertiary
education," she said.
Every year, hundreds apply
for undergraduate scholarships
while lesser known scholarships
in specific disciplines and voca-
tional and technical training
receive less attention.
"My quest is to make the
foundation more visible in the
community through town meet-
ings and the dissemination of
information on college pre-
paredness and career advance-
ment."
She plans to continue to
strengthen ties with strategic
partners, including the College
of the Bahamas, the Ministry,
of Education, BTVI and sec-
ondary schools.
"We have to partner with our
high schools in order to sensitise
and inform students about
career trends and the impor-
tance of education for their
future at an earlier phase in the
high school experience. Most
people are seeking careers at
the top as the doctor or the
bank manager. Yet there are
needs for people to be nurses,
educators, electricians, marine
mechanics, allied health profes-
sionals and computer techni-
cians.
"We want to make certain
that all aspects of our labour
force are sufficiently supplied
and trained to meet the needs
of the country now and for the
future."
While in charge of the spe-
cial scholastic assistant search,


Mrs Hinsey helped secure more
than $10 million in scholarships,
liaising with colleges in the US
and Canada on behalf of
Bahamians. She also co-ordi-
nated college and career fairs.
The woman who has made a
career of helping others obtain
financial assistance for a college
education grew up with parents
who were determined that their
children would get the higher
education they never had the
chance to pursue.
"Because of our humble
beginnings, my parents made
sure that my sisters and I knew
the value of a good education,"
said Mrs Hinsey. Today, all four
daughters are college graduates.
"I am grateful my parents
invested in me and now I invest
that hope in students through
the Lyford Cay Foundation and
its programmes."
For more than 20 years, the
Lyford Cay Foundation and the
Canadian Lyford Cay Founda-
tion have led the region in char-
itable contributions, providing
$14.5 million in financial assis-
tance for academic and voca-
tional education and helping
dozens of worthwhile organisa-
tions make lives better for oth-
ers.
Past Foundation scholars fill
posts and top professional posi-
tions throughout the Bahamas
with careers in hospitality, edu-
cation, finance, health care, law
enforcement, agricultural and
marine equipment maintenance
and aquaculture.


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it's team of professionals in various
S areas.
We offer a competitive salary &
benefits package as well as ongoing
professional training & development.


Requirements:
Excellent communication skills
Able to respond promptly & professionally
when problem solving
A strong team player able to interact with
many departments
A solid work ethic with regard to being on time
& completion of work ....._.....
Highly skilled in computer data entry, including
working knowledge ofMicrosoftOffice
Software
Open to learning new skills with a desire for
improvement
An ability to complete & keep current records
of all communications


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Please fill out and submit an application online at
www.furnitureplus.com


or eMail:


jobs@theplusgrp.com


or Mail to: Director of Human Resources
The Plus Group
P. O. Box N713, Nassau, Bahamas
We thank all applicants, however only those selected
for an interview will be contacted.


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


'"~":""";~ '~"~~~


PAGE 10, TUESDAY, JULY 31, 2007


THE TRIBUNE


-e
~^si








THE TRIBUNE


Bahamians travel


to Kenya for World



SYWCA Conference


FIVE persons from the
Bahamas participated in the
World YWCA Council and
International Women's Summit
held from July 1 to 11 in Nairo-
bi, Kenya.
Also in attendance were del-
egations from over 100 coun-
tries.
World YWCA Council meet-
ings, which are held every four
years in a different region of
the world, determine policies,
strategies, budgets and leader-
ship for the quadrennial that


follows.
Representing the council
were Nadeen Beneby, Eleanor
Campbell, Patricia Campbell,
Veronica Archer Williams and
Rosalie Fawkes.
Highlights of the council
were:
A young women's leader-
ship forum
Capacity building work-
shops
An extraordinary world
council which ratified a new
constitution for the movement


An international women's
HIV/AIDS summit
A World YWCA Council
membership meeting
Lady Jacqueline Fawkes,
President of the Bahamas
YWCA, was also among sever-
al long serving and outstanding
YWCA leaders from around
the world that were honoured in
Nairobi,
Receiving the recognition on
Lady Fawkes' behalf was her
daughter, Rosalie,


SDELEGTIN omNigeria t the opening ceremony
* DELEGATION from Nigeria at the opening ceremony


* BAHAMIAN delegates experienced a
one-day safari visit to Lake Nakaru,


LADY Jacqueline Fawkes


* ELEANOR Campbell, Rosalie Fawkes, Patricia Campbell and Nadeen Beneby join In festivities
on All Africa Day.


Appraiser warns Scholarships to study in China
m s^- are awarded to Bahamians


DaTiamians unaware



of homes' value


MOST Bahamians don't
know the true market value of
their homes according to Island
Living Real Estate appraiser
Anthony Wells.
Addressed the Rotary Club
of New Providence this month,
he shared some surprising infor-
mation about what affects prop-
erty value and the reasons home-
owners need current evaluations.
"Because your home is likely
the most significant investment
you will make in your lifetime,
there are plenty of reasons why
you need to know the value"'
Mr Wells told rotarians meeting
at Superdlubs Breezes. "Among
them to set an asking price if
you're going to sell, to calculate
how much equity you have, to
prepare a good estate plan, to
understand how much insurance
you should be carrying or just
to satisfy your curiosity."
Mr Wells said four major fac-
tors affect market value effec-
tive age, highest and best use,
functional obsolescence and
external obsolescence.
"The effective age of the
home is determined by the lev-
el of maintenance over the
years," explained Mr Wells.
"The actual age of your home
may be 25 years old, but it may
only feel five to 10 years old
because of how it is maintained
or it may be 10-years-old and
look like a tired 25-year-old
property if it has not been care-
fully maintained."
Over the years, Mr Wells said,
commercial development often


* PRESIDENT of the Rotary Club of New Providence Michael
Fowler directs a lively question and answer segment following a
presentation by Island Living Real Estate appraiser Anthony Wells
(Photo: Wellington Chea/DP&A)


encroaches upon a street or area
that was once primarily resi-
dential. Knowing the highest
and best use of the land can help
owners make smart decisions.
Appraisers keep abreast of
economic, social or government
forces that are likely to act on
determining future land use.
Functional obsolescence
occurs when a component of a
structure or the structure's
design does not conform or
appeal to current market tastes
or expectations. External'obso-
lescence, on the other hand,
occurs when a loss in value
stems from conditions or fac-
tors outside the boundaries of
the property, such as a fuel sta-
tion being built near the home.


"It pays to be educated about
something that is such a signifi-
cant part of your life," said Wells.
"Who knows, you may be sur-
prised to find out how much your
home is actually worth."


THREE Bahamians have
been awarded full scholarships
from the Chinese government
to attend university in the Peo-
ple's Republic of China.
Since the establishment of
'diplomatic relations between
the Bahamas and the People's
Republic of China in May
1997, the Chinese government
has awarded full scholarships
to Bahamian students to pur-
sue higher education at the
bachelors and masters levels
in a variety of fields.
These include the areas of
manufacturing and design of
clothing and apparel, medi-
cine, marine transportation,
traditional Chinese medicine,
astrophysics/astronomy, inter-
national business management
and marketing,
Sixteen Bahamians, includ-
ing the three recipients this
year, have benefited from the
scholarship programme,
The scholarships were pre-
sented at a ceremony on Fri-
day at the Ministry of Foreign
Affairs.
Xiamin Zhang, First Secre-
tary and Charge d'Affaires at
the Chinese Embassy, said the
scholarship programme was ini-
tiated to develop co-operation in
the field of education between
the Bahamas and China,
"I hope and believe the stu-


, .. s, 1 +o



f-iloES fl l t!. SF P t 6u Oatk,
i'JJf tfrom iIairut Dai iadiu t Chirry,
Bllrc l jrr iJsiibuu
P/lrsi sW.riny sr


* DEPUTY Prime Minister and Minister of Foreign Affairs
Brent Symonette speaks at the awards ceremony held for
three Bahamian scholarship recipients preparing for studies In
China at the Ministry of Foreign Affairs' Diplomatic Room on
Friday
(Photo, BIS/Tim Aylen)


dents will enjoy their stay and
study, in China," Ms Zhang
said, "During their stay, they
can better understand the Chi-
nese people and Chinese cul-
ture.
"Further, I think they will
play a role in creating a friend-
ship between our two coun-
tries and our people,"
The three recipients this
year are: Andrew Stewart, in
psychology and international
business; Clarence Albury in
the field of International eco-
nomics and trade and Tina


Barnett, who will study archi-
tecture,
"All three of us are fully
aware of the opportunity we
have been given, but most
importantly, we are ready, will-
ing and indeed capable of
attaining our educational goals
in China," Mr Albury said,
"We are now ambassadors
for the Bahamas, and Bahami-
ans are counting on us to suc-
ceed," he said. "We have been
chosen not because we are bet-
ter than the other applicants,
but because it is our destiny."


E-rs: Ji22-tlS '.iJ
"-,-,iui: irii! @ r ,bIti.iurtiltw ur


.,, ,

,i










PAGE12, U~SLW, J~y 3, ~koY TE TRBUN





*A ....


PRESIDENT'S AWARD WINNERS
Accounts Control/Recovery Department


CHAIRMAN'S AWARD WINNERS
Cable Beach Branch


Shantell Cotie
Accounts Control/Recovery
Accounts Control Officer
of The Year


Bertram Cooper
Accounts Control/Recovery
Recovery Officer of The Year


Charmaine Smith Syche McDonald
The Mall Drive, Freeport Branch Training Department
Customer Service Award Customer Service Award
Branches Departments


Cleopatra Burrows Raynard North
Marsh Harbour Branch East Bay Street Branch
Sales Excellence-New Accounts Sales Excellence-Credit


Michelle Forbes
The Mall Drive, Freeport Branch
Sales Excellence-Referrals


Patrice Sherman
Oakes Field Branch
Sales Excellence-Referrals


Barbara Adderley
The Plaza Branch
Sales Excellence-Credit


Deina Gardiner
Town Centre Mall Branch
Sales Excellence-New Accounts


Clayton King
Cable Beach Branch
Sales Excellence-Credit


Dior Johnson
Town Centre Mall Branch
Service Excellence-Customer
Service Representative


I PAGE 12, TUESDAY, JULY' 3i, k20017


THE TRIBUNE i







TUESDAY, JULY 31, 2007


SECTION I


The ribunefi


busess@tunemedi..net Miami Herald Business, Stocks, Analysis, Wall Street


Pegasus confirms closure of




'non-viable' Freeport plant



Company says facility not a 'long-term, viable standalone operation', leaving 100

Bahamians in the lurch and raising questions on government due diligence

-----.----- ------.---. ---. --..-......-........--.................------------....--.-----------------.....I--.
1 D k L D I m rI ii' al ,ol lt. .,li-t--.an*L all l na T rt + -I/ + l rt


-I y IILL nAn IItLL
Tribune Business Editor
Pegasus Wireless has con-
firmed its Freeport-based
wireless manufacturing
facility has closed
because it was. not a
"viable long-term operation", putting
some 100 Bahamians out of work and
suggesting the Government needs to
improve its due diligence on foreign
investors seeking to enter the


auluamas.
Buried deep in the Proxy Statement
for a 'special meeting of Pegasus
Wireless shareholders, to be held at
the -Hilton Palm Beach Airport in
West Palm Beach. Florida, was a sen-
tence that ended the disquieting
silence by the company)and its presi-
dent/chief executive, Jasper Knabb,
over theif Bahamian intentions.
Pegasus Wireless said: "The com-
pany has closed -its manufacturing
facility in Freeport, Grand Bahama,


ine .jaanaaI, anlll IirecaLel all maIn-
ufacturing to its subsidiaries, Cnet in
the People's Republic of China and
SKI in the Republic of China.........
"The .Bahamas facility has been
closed and tlose operations are being
transferred to Cnet and SKI at this
time. The Board of Directors did not
feel that the Bahamas operation
would.be a long-term, viable stand-
alone operation and that it makes
more sense to transfer.those opera-
tions to Cnet and SKI."


e. Uec.li s V lOlll Lo II S LI J.iJULreepoL,
Grand Bahama, facility is said to be
part of a wider restructuring plan by
Pegasus Wireless which will see it sell
its interest in Cnet, SKI and another
entity, the AMAX companies, via a
stock swap.
SThe shares it receives from. the
three buyers, all said to be public-
companies, will then be distributed
to Pegasus Wireless shareholders.
Mr Knabb and his fellow directors
said in the Proxy Statement that the


seLr ULUrIingi was uol llng eF iece uue
to the tremendous amount of negative
publicity swirling around Pegasus
Wireless, and the alleged targeting of
its stock by 'naked short sellers' -
something that allegedly provoked its
Nasdaq de-listing.
Pegasus said: "The company and
its executives have seen tremendous
negative publicity written about both

SEE page 8


- '


Sir Jack seeks trial`

delay as estate

files new writ


* By NEIL HARTNELL
Tribune Business Editor
THE late Edward St
George's estate has filed a new
writ against Sir Jack Hayward
- who is seeking to have the
trial on the Grand Bahama
Port Authority's ownership
adjourned due to ill-health -
and his fellow defendants for
alleged breach of trust, with
Hutchison Whampoa's offer to
acquire the GBPA and Port
Group Ltd still on the table.
Sir Jack's attorney, Grego-
ry Moss, of Moss & Associ-
ates, will petition the court
today to delay the trial on his
claim to 75 per cent ownership
of the GBPA and Port Group
Ltd on the grounds of their
client's ill-health, which is pre-
venting him from travelling to
Nassau from London.
An affidavitsworn by Lena
Held, an associate with Moss
& Associates, alleged that they
had received a medical certifi-
cate on July 27, 2007, from
London-based doctor Dr Peter
Kapff, saying that he had
examined Sir Jack the previ-
ous day and found" him to be
"unfit for travel" because he
had developed "acute chest
pain".
Several letters were then
exchanged between Mr Moss
and Fred Smith, of Callenders
& Co who is the estate's attor-


Hutchison I

Whampoa offer

to acquire Port

Authority st l I

on table

ney, with the latter allegedly.
not agreeing to the trial's post-'
ponement.
In the meantime, Dr Paul
Curry, consultant cardiologist.j
had allegedly prescribed si5,
medications for Sir Jack and
diagnosed him as "having coro-i
nary artery disease, hyperten-,
sion and T1As".
Meanwhile, the St George
estate has filed a new writ
against Sir Jack and his son'
Rick, former GBPA chairman
Hannes Bababk. several Cay-
man Islands-based attorneys,
GBPA parent Intercontinen-
tal Diversified Corporation, Sir
Jack's investment companies,
Cayman-based Campbell Sec-W
retaries and Fiduciary Man-
agement Services (FMS). the
latter being the company at the
heart of the GBPA ownership

SEE page 9


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located between Governor's Harbour and the G, H. airport 2 & 3
bedroom homes; some sea views; deeded access to pink sand beach.
Travertine marble flooring, solid wood cabinetry, granite kitchen and
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SIRbahamas.com t 242.322.2305 f 242.322.2033


Response times 'most damaging'


to Bahamian financial sector


* By NEIL HARTNELL
Tribune Business Editor
SERVICE quality and a perceived "lack
of responsiveness" to client requests are
doing more damage to the Bahamian
financial services industry's competitive-
ness than anything else, a senior accoun-
tant told The TribuLie yesterday;
Raymond Winder, Deloitte & Touche
(Bahamas) managing partner, said the
turnaround time for company incorpora-
tions and other requests in the Cayman
Island and British Virgin Islands was
"remarkable" when compared to the
Bahamas, with clients prepared to use
those jurisdictions even if they were more
expensive that this nation.
As a result, Mr Winder said executives
in both the private and public sectors
needed to set turnaround time goals for
dealing with requests from clients and
overseas intermediaries to enable the


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service providers often thought it was fine
to respond by Wednesday or even the fol-
lowing week.
"The biggest single drawback that we
have is alack of responsiveness to client
Requestss" Mr Winder said. "If we did a
betterijob as a jurisdiction on responsive-
ness, we would do better overall.
"Thatis doing more damage to the juris-
diction than anything else.Improving the
quality of service is still the order of the
day in the Bahamas.
"We're in the service, business. When
youwgo.to the Cayman Islands or the
.British Virgin Islands, when companies
are formed the turnaround time is remark-
able compared 'to'the:time taken in the
Bahaxa. -
Clinn A prepared to pay more mon-
ey to do something in the Cayman Islands


SEE page 5


Bahamas to com-
pete with its inter-
national financial
service centre 0
rivals.
"'What the
Bahamas is suffer-
ing from more than
the regulatory
changes back in
2000 and the com-
ing together of the
regulatory agen- WINDER
cies, is' that as a
jurisdiction we are still not perceived as
responsive." Mr Winder said.
"In both the private and public sectors.
there's not a sense of urgency to get things
done. Bahamians think thev chn take their
time."
Mr Winder said that, typically.if a client
made a request on a Tuesday and wanted
the task completed that day, Bahamian


HELPING YOU CREATE AND MANAGE WEALTH

NASSAU OFFICE
Tel: (242) 356-7764
FREEPORT OFFICE
Tel: (242) 351-3010


-+-


(a~t..


- --- --- -- ---- ----------------------------------------


I~LII(I --I--II -- -------


. .


* -


,a



i







PAGE 2B, TUESDAY, JULY 31, 2007 THE TRIBUNE


to


give


'all securities


ah


* By NEIL HARTNELL
Tribune Business editor
T he Bahamas Inter-
national Securities
Exchange (BISX)
is looking to
attract secondary securities
issued by its listed members
and their subsidiaries, and
securities issued by non-pub-
lic companies, and "provide
them with a home" on the
exchange, its chief executive
told The Tribune yesterday.
Keith Davies said that in
addition to supporting efforts
by BISX broker/dealer mem-
bers to create Bahamian
Depository Receipts (BDRs)
and other derivative products
to exploit the Central Banlk
of the Bahamas exchange
control relaxation, "our goal
is to take every and any any
potential security that can be
listed and provide them with
a home".
Among the securities BISX
was targeting were prefer-
ence shares and other securi-
ties, such as corporate debt,
that were issued by public
companies whose ordinary
shares were already traded
on the exchange, or their sub-
sidiaries.
Mr Davies said BISX had
already been focusing on this
area and would continue to
do so, and as these compa-
nies were already listed and
-under market disclosure


ome


* KEITH DAVIES


rules, listing their secondary
securities on the exchange
would not be onerous and it
would expose them to a
wider investor pool.
The BISX chief executive
added that the exchange was
also going to "encourage" the
Securities Commission, with
support from its members, to
permit the creation of a sec-
ondary market tier where
non-public companies could
list securities issues via pri-
vate placements, preference
shares or other instruments,


base'


then see them traded.
BISX had already received
two inquiries in this area, Mr
Davies said, the long-term
goal being to allow such com-
panies to establish a 'track
record', respond to reporting
requirements and then
become a full public compa-
ny if they so wished.
"One of the things BISX is
trying to do, which is done in
other jurisdictions, is that you
have the ability to register to
become a reporting company.
In other words, you are treat-
ed as a reporting company,"
Mr Davies said.
"There is nothing in the
US, say, to stop a private
company being a reporting
company. Here, you're either
.a public company or you're
not.
"There are new initiatives
taking place where exchanges
are seeking to address the
needs of private companies
and private placements
through various types of mar-
ket structures. These are the
sorts of things we need to
do."
Restricting such companies
from registering and listing
with BISX, Mr Davies said,
could stagnate the develop-
ment and growth of the
Bahamian capital markets.
Mr Davies said that unlike
the system glitches experi-
enced last week, which saw
no trading take place on


BISX on Tuesday and
Wednesday, trading yester-
day was "smooth sailing"
with the new QuickTrade
Windows system being
utilised by br6ker/dealer
members.
Four trades took place yes-
terday, and Mr Davies said
that in accordance with pro-
tocol requirements, brokers
were present in BISX's
offices to conduct the trades
to ensure there were no prob-
lems.
"I was very happy to
declare that the new system
was available to them and
operational to them," Mr
Davies said. "Once we start-
ed, it went off without a
hitch. Now we just need
clearing and settlement for
government securities.and we
will be complete."
Trading today will again
take place in BISX's offices,
allowing the exchange to
make any amendments or
upgrades at the broker/dealer
offices.
Mr Davies said the
Bahamian capital markets
continued to expand, with
investment dollars and
investors continuing to flow
in, with new products needed
to satisfy "pent-up demand
for quality securities invest-
ments".
He added that the BISX
All-Share Index was now
close to the 2,000 point mark.


APPLICATION

SUPPORT TECHNICIAN

Core Responsibilities:

Provides support and maintenance of core applications and database
infrastructure.
Assists with documentation and maintenance of technical standards
and operations.
Troubleshoots system and application problems, including issues and
servers.
Reviews and tests technologies for potential purchase by researching
computer industry information.
Interfaces with all staff and IT vendors in carrying out duties.
Performs application installations and configurations, preventative
maintenance and repairs.
Executes, coordinates and assists in the implementation of new
technologies.

Knowledge Skills and Abilities:

* Advanced knowledge of Oracle 8 a must (SQL 2003 and Microsoft
Access a plus) to manage and Support Central Database Systems.
Advanced knowledge of AIX Unix 5.0 and various Windows operating
systems to provide help desk support and to troubleshoot end-user
and back office systems.
Knowledge of networking, especially protocols in use by company
to troubleshoot and rectify the sources) of network problems.
Analytical and problem-solving skills to assess issues and technical
information, examine alternatives, and use judgment to provide
reasoned recommendations.
Must be open to new technology and ability to problem solve in
support of the network and central database systems.
Bachelor of Science degree in a computer-related field, industry
standard network certifications required, plus two (2) or more years
of proven network systems experience.

Benefits include: Competitive salary commensurate with experience
and qualifications; Group Medical (includes dental and vision) and life
insurance; pension scheme.

,Interested persons should apply no later than August 17th, 2007 to:

DA 8104A
c/o The Tribune
P.O. Box N-3207
Nassau, Bahamas


Total value of shares traded


drops by 17.63 per cent


WHILE the volume of
shares traded on the Bahamas
International Securities
Exchange (BISX) increased
slightly by 0.7 per cent for the
first sixth months of 2007, the
value of those shares dropped
by 17.63 per cent or $2.32 mil-
lion
BISX's latest trading infor-
mation, released yesterday for
the six-month period ending


June 30,2007, said total trading
volunie for all listed issuers was
2,953,871 shares, with a total
value of trade value of $13.16
million.
This represented an increase
in traded volume of 22,727
shares, compared to the
2,931,144 shares traded in 2006.
BISX, though, reported that
the value of the shares traded
in the 2007 first half decreased


by $2.32 million or 17.63 per
cent compared to 2006, when
the value of traded shares was
$15.481 million.
For the first six months of
the year, the BISX All Share
Index closed up 138.94 points
or 6.02 per cent, closing at
1,815.13.
By comparison, BISX said
there was an increase of 168.4
or 12.5 per cent to close at
1,519.11 in 2006. Although the
market grew at a slower rate
when compared to last year,
the the BISX All Share Index
realized a gain of 296.02 points
over 2006.
The BISX All Share Index is
a market capitalisation weight-
ed index comprised of the pri-
mary listings actively traded
on the exchange.
As of June 29, the market
was comprised of 19 listings
with a market capitalisation of
$3.49 billion.
BISX also announced the
top five share volume leaders
on BISX for the first half of
2007:
Colina Holdings
(Bahamas) 1,374,848 or 47
per cent of the volume of
'shares traded
Abaco Markets 505,770
shares or 17 per cent of shares
traded
Commonwealth Bank -
266,848 or 9 per cent of shares
traded
Bank of the Bahamas-
109,915 or 4 per cent of shares
traded
First Caribbean Bank-
102,430 or 3 per cent. of shares
traded
The top five companies list-
ed by share value:
Commonwealth Bank:
$3.605 million or 27 per cent
of total value
Colina- $2.878 million or
22 per cent of total value
First Caribbean- $1.476
million or 11 per cent of total
value
Cable Bahamas- $989,673
or 8 per cent of total value
Abaco Markets- $639.804
or five per cent of total value


-FAMGUARD

The Board of Directors
of
FamGuard Corporation Limited
is pleased to advise that
the second quarterly dividend
for 2007
of 6 cents per share
has been declared to be paid on
August 14, 2007
to Shareholders of record as at
August 7, 2007


FAMGUARD CORPORATIONLIMITED
Theparent holding company of
Family Gardianonsurance Company limfted
BahamaHealth Inurance Broker & Banet Consoltmts Lt ted
FG General race Agency Lalted


ys lING'S
UWAL STATES

INDIGO
GREAT INVESTMENT OPPORTUNITY

A unique opportunity to own 5 adjacent lots in this quaint gated
community, each lot measures 60' x 130' zoned for 15 units.
Amenities include double tennis court and swimming pool. Was
$650,000 now reduced to $550,000 for quick sale.

LOT #70 HOPE TOWN-ABACO

Large lot less than 300' from the beach with partial ocean views,
priced to sell at $285,000.

ORANGE HILL
WEST BAY STREET

17.5 Acres Superb Oceanfront in the most desirable location on
the island. Ideal for a High-End Condo development or Class A
Office Finacial Centre. Offered at $8,000,000.

GILINGAM HOUSE MONTAGU

Class "A" Office Space Available!
Top floor comprises of 2,562 sq. ft. of leasable area and 1,108
2q. ft. of common leasable area totaling 3,670 gross square
feet. Lease is $32 per square foot with CAM charges being $12
pers square foot. This floor is being leased with partial office
furnishings.


Contact Kingsley Edgecombe
Ph: 242-424-4959
Email: kingsley@kingsrealty. com


L -L j'llerrebuHHBB
GFR^^^^^^^^^^^^eal Estat^^^^^^^^^^^^^^^^^^^^^^


THE TRIBUNE


PAGE 2B, TUESDAY, JULY 31, 2007


BUSINESS


BISX












BUSINESS 3


he -IBiami MHeralb _TUESDAY, JULY 31, 2007 INTERNATIONAL EDITION


MARKETS
MUTUAL FUNDS 88
30 13,358.31 +92.84
.-500 1,473.91 +14.96


:. J.


HOUSING MARKET


DAQO 2,583.28 +21.04 A
NOTE 4.81 +.04 A
OIL 76.83 -.19


Takeover


activity


boosts


stocks

BY MADLEN READ
Associated Press
.NEW YORK Wall Street
found a foothold Monday as
investors, still anxious that a
credit crunch could crimp U.S.
growth, took advantage of low
prices after last week's steep
losses. The Dow Jones indus-
trial average surged more than
90 points.
Some solid earnings and
S takeover activity boosted the
stock market, which was com-
Sng'off the Dow's and the Stan-
dard & Poor's 500 index's big-
Sgest weekly drops in nearly five
years. The Dow is still down
about 4.8 percent from its July
19 record close of 14,000.41, hav-
nlg caved under worries about a
shakier lending climate.
Despite rising defaults and
delinquencies in mortgage lend-
ing, HSBC Holdings, Europe's
Largest bank by market value,
posted a 25 percent rise in first-
half earnings. Also, General
Motors' GMAC Financial Ser-
vices said second-quarter profit
declined but that it expects its
S residential lending business to
prove in the second half of
the year.
.The market initially wavered
between positive and negative
.territory Monday, but then
Spdshed higher in afternoon
trading as investors re-entered
the market to scoop up bar-
gains.
The Dow rose 92.84, or
0.70 percent, to 13,358.31, after
falling by as much as 46 points
during the session. On Thurs-
Ay and Friday, the Dow
da total of 585 points.
Broader stock indicators also
TheStandard &'Poor's 500
Added 14.96, or 1.03 per-
it, to 1,473.91, and the Nasdaq
Composite index advanced
21.04, or 0.82 percent, to
2,583.28.
Bonds fell modestly as stocks
ai.ned, driving the 10-year
treasury y note's yield up to
* .8 percent from 4.77 percent
,;. Lte Friday.
S' A In an indication that there is
still demand for cheap, risky
assets, Chicago-based hedge
fund Citadel Investment
Group's said it is buying the
credit portfolio of Sowood Cap-
ital. Sowood is a Boston-based
hedge fund that has reportedly
suffered sizable bond-related
losses.
High energy prices, which
contribute to inflation, remain a
concern for investors. Oil
fituies fell 19 cents to $76.83 a
barrel on the New York Mer-
cantile Exchange. On Friday,
they finished a penny away.
from the record close of $77.03
reached July 14, 2006.
The dollar was mixed against
other major currencies. Gold
prices rose.
The Russell 2000 index of
smaller companies rose 6.40, or
0.82 percent, to 784.23 back
in positive territory for the year
after turning negative Friday.
Advancing issues outnum-
bered decliners by about 2 to 1
on the New York Stock
Exchange, where volume came
to 2.03 billion shares compared
with a heavy 2.27 billion shares
Friday.
In Asian trading, Japan's Nik-
kel stock average rose 0.03 per-
cen,'Hong Kong's Hang Seng
index rose 0.8 percent, and Chi-
na's Shanghai Composite Index
jumped 2.2 percent to a new
record.
In European trading, Brit-
ain's FTSE 100 fell 0.15 percent,
Germany's DAX index rose 0.06
percent, and France's CAC-40
rose 0.04 percent.


PHOTOS BY WILLIAM B. PLOWMAN/AP
NEW HOME: Patricia Ortiz and her husband Sebastian purchased their Billerica, Mass., home,
below, early last year for $389,000. To save money, they were married in the house last April.



IMMIGRANT BOOST

SOME EXPERTS BELIEVE IMMIGRANTS' HOMEBUYING DREAMS
ARE CRITICAL TO TURNING AROUND THE SLUMPING HOUSING MARKET


BY MARK JEWELL
Associated Press

BILLERICA, Mass.,- Patricia Ortiz and her husband Sebastian cut
back on dining out, nights at the movies, and even opted for a civil
wedding ceremony instead of a big church affair so they could afford
to buy their $389,000 three-bedroom colonial.


In doing so, the Panamanian
natives helped lift the nation's
slumping housing market.
With rising purchasing power,
the nation's growing number of
foreign-born residents are keeping
the bottom from falling out. And
amid slow demand from an aging
and slow-growing native popula-
tion, immigrants are fueling pre-
dictions of a rebound.
Assuming Congress doesn't
impose further restrictions, immi-
grants both legal and illegal -
and their native-born children are
forecast to provide the bulk of
coming years' growth in homebuy-
ing demand, nudging the market
back up and aiding the broader
economy.
U.S. household growth from
2005 through 2015 is projected to
reach about 14.6 million about
2 million greater than in 1995-2005
- primarily because of greater
numbers of immigrants, according
to a recent analysis by Harvard
University's Joint Center for
Housing Studies. Most native-born
children of immigrants are classi-
fied as minorities, and minorities'
share of new U.S. households a
key driver of housing demand is
expected to rise from a little more
than two-thirds now to more than
three-quarters by 2020, according


to an earlier Harvard study.
"As we come out of the this
housing recession, immigrants will
continue to have an ever-larger
role," said Dowell Myers, a Uni-
versity of Southern California pro-
fessor who studies immigrants'
upward mobility. "If you were to
stop immigration, it would be dev-
astating, because it would eventu-
ally pull this huge chunk out of the
housing market's foundation."
Immigrants formed more than
40 percent of the new households
the nation added from 2000 to
2005, up from about 30 percent
share in the 1990s and about
15 percent in the 1980s, the Har-
vard center found in its latest
study.
"The number of new homes
being built is sensitive to the num-
ber of households added, which is
why immigration is so important
to the housing market," said Eric
Belsky, the center's director.
From 2000 to 2005, the nation
added more than 1.2 million immi-
grants per year, the Harvard study
found. That boosted the nation's
foreign-born to more than 12 per-
cent of overall population, a level
last seen in the 1930s.
. Although immigrants remain
less likely to own a home and
more likely to rent than native-


.ASIA


China tightens credit


to cool its economy


BY JOE McDONALD
Associated Press
BEIJING China tightened credit
Monday in a new effort to cool its
white-hot economy, ordering banks
to shrink the pool of money for lend-
ing by increasing their reserves for a
sixth time this year.
The move was widely expected
after the economy grew by 11.9 per-
cent last quarter, its fastest rate in 12
years, despite earlier efforts to con-
trol the boom. Beijing raised interest
rates on July 20 for a third time this
year.
Banks were ordered to raise the
amount of money they keep on
deposit with the central bank to 12
percent from 11.5 percent of their
deposits, effective Aug. 15, the central
bank said on its website.
China's communist leaders want
to keep overall growth high to reduce
poverty. But they worry that runaway
investment in real estate and other
industries could push up politically
volatile inflation or spark a debt crisis
if borrowers default.
Regulators have tried to target
individual industries with investment


curbs while keeping interest rate
hikes small to avoid derailing
growth. Even after three rises
this year, the key lending rate stands
at just 6.84 percent on a one-year
loan.
But economic planners worry that
the export-fueled flood of cash surg-
ing through China's economy is driv-
ing dangerously fast investment in
stocks, real estate and other assets.
The surge in the money supply is
straining the central bank's ability to
contain pressure for prices-to rise. It
drains billions of dollars a month
from the economy through bond
sales, piling up reserves that have
topped $1.3 trillion.
Still, Chinese banks are so flush
with cash that moves such as Mon-
day's reserve increase are considered
to be just a government signal to cur-
tail lending, not a real constraint on
credit.
Bank deposits total more than
$4 trillion and are growing by tens of
billions of dollars a month, leaving
plenty of money for new lending.
The government has tried to rein
in China's export surge by cutting


born people, the Harvard study
found that the foreign-born
accounted- for 13.8 percent of all
homebuyers in 2005 who had
moved in within the preceding
four years, up from 11,4 percent in
2001.
The numbers are much higher
in some immigrant-rich states. In
California, nearly one-third of
recent homebuyers were foreign-
born in 2005. For New York, New
Jersey and Florida, the figures
were between one-quarter and
one-fifth.
"Immigrants are buying up the
bottom of the housing market,"
said Myers. "And if the bottom is
soft, prices collapse. A small home '
is pushing up the market, keeping
home values up for the Hollywood
Hills mansions."
........ .. .1....... - -.............. .. ...__... _.... _ _


I


TEH ENG KOON/AFP-GETTY IMAGES
RAPID GROWTH: Last quarter, China's economy grew by its fastest rate
in 12 years despite earlier efforts to control the runaway expansion.
Above, a Chinese woman peddles goods in Beijing.


rebates of value-added taxes and
imposing new taxes on shipments of
some goods such as steel. But the
Chinese trade surplus soared to a
new monthly high in June, widening
85.5 percent from the year-earlier
period to $26.9 billion.
Outside analysts are forecasting
economic growth of up to 115 percent
this year. They raised earlier esti-
mates after second-quarter growth
exceeded expectations.


The rapid growth in money supply
has helped to drive a boom in Chi-
nese stock prices. The main index has
risen by more than 60 percent this
year, after more than doubling in
2006.
Inflation has crept up, hitting 4.4
percent in June its highest level in
more than two years driven by a
7.6 percent jump in food prices. That
is well above the official 3 percent
target this year.


1 _4C r ~--~--- CI - II- L =


MEDIA



News Corp.


offer for


Dow Jones


gets tepid


support
BY SETH SUTEL
Associated Press
NEW YORK Wall Street became
increasingly skittish about Rupert Mur-
doch's prospects for clinching a deal to
buy Dow Jones, sending the stock of
The Wall Street Journal publisher down
more than 5 percent Monday as a dead-
line arrived for the Journal's controlling
shareholders to make a decision.
Members of the Bancroft family,
which has controlled Dow Jones for a
century, had a 5 p.m. deadline Monday
to tell the family's lead trustee how they
would vote on Murdoch's $5 billion
offer to buy the company. A Bancroft
family spokesman declined to comment
on the vote's outcome late Monday.
The next expected step is for News
Corp., Murdoch's media conglomerate,
to be informed of how many Bancroft
family members were in favor of the
offer and decide whether it has enough
support to proceed.
On Monday a News Corp. spokes-
man said the company was "highly
unlikely" to go ahead with the deal if
the level of support among the Ban-
crofts remained at just 28 percent of the
shareholder vote, which The Wall
Street Journal reported was the level of
commitment as of Sunday.
The News Corp. spokesman asked
not to be liamed due to the sensitive
nature of the discussions. News Corp.
has said it wants sufficient support from
the Bancrofts to avoid a potential messy
showdown later.
The Bancrofts collectively control
64 percent of the shareholder vote of
Dow Jones through a special class of
stock, but only about half of them need
to support the deal for it to succeed.
The Bancrofts are a diverse clan and
their voting interest in the company is
held through a complex series of pri-
vately held trusts, making the outcome
difficult to predict.
Over the past few weeks investors
have been steadily pushing Dow Jones
shares below the $60 price that Mur-
doch has offered, reflecting increasing
doubts about the deal going through.
The shares took another tumble
Monday after the Journal first reported
that News Corp. was displeased with
the level of support among the Ban-
crofts. The shares initially dropped as
much as 9 percent but recovered some
of their losses, ending the day down
$2.89 or 53 percent at $5156, well below
Murdoch's price.
Many of Dow Jones' public share-
holders are expected to support the
deal, which represents a rich premium
over the mid-$30s price Dow Jones
shares had before the offer became pub-
lic in early May.








INTERNATIONAL EDITION TUESDAY, JULY 31,2007 4B


BUSINESS BRIEFS


AGRICULTURE


Rain helps ethanol industry


DOING BETTER: I 1
Tyson Foods
President and
CEO Richard
Bond is 3
pleased that
the company
has raised its
profit forecast
for the year as
it rebounds
from losses.


DAVE EINSEL/AP FILE





RETAIL


Tyson Foods posts

profit vs. loss a year ago

From Herald Wire Services

Tyson Foods (TSN), the world's largest meat processor,
reported a bigger-than-expected profit for its third fiscal
quarter on Monday and raised its profit forecast for the year
as it rebounds from last year's losses.
Tyson credited higher average sales prices for chicken,
beef, pork and prepared foods, export growth and a cost-cut-
ting program that is ahead of a target of saving $200 million
this year.
Those factors more than offset higher feed prices for ani-
mals, boosted by demand for corn for producing the alterna-
tive fuel ethanol.


* MERGER
INGERSOLL RAND TO
SELL UNITS FOR $4.9B
Industrial equipment
manufacturer Ingersoll-
Rand (IR) has reached a
deal to sell its Bobcat earth-
moving division and two
other corporate units to the
Korean company Doosan
Infracore (DOHIF.PK) for
$4.9 billion, the company
announced.
Ingersoll-Rand said it
hopes to close the sale early
in the fourth quarter.
Ingersoll-Rand shares
rose $3.63, or 7.5 percent, to
$51.77 Monday.

* CONFECTIONER
WRIGLEY'S EARNINGS
RISE IN 20
Growing international
sales and a weak U.S. dollar
helped propel Wm. Wri-
gley Jr.'s (WWY) profit up
21 percent during the second
quarter, the gum and candy
maker said.
The confectioner's net
income rose to $169.8 mil-
lion, or 61 cents per share,
during the April-through-
June quarter.
That's up from $140.6
million, or 51 cents per
share, in the year-ago
period. Results included a
penny-per-share charge
related to supply chain
restructuring.
Meanwhile, revenue
surged a better-than-ex-
pected 14 percent to $138
billion from $L21 billion last
year, beating Wall Street
forecasts.

* BANK
ABN AMRO DROPS
TAKEOVER SUPPORT
ABN Amro (ABN)
dropped its support for a
takeover offer by Barclays
(BCS) which is the target of
a higher competing bid by a
group led by Royal Bank of
Scotland (RBS-PL)
But the bank's boards
said they could not endorse
the RBS bid either because
of "significant unresolved
questions."
The boards said they may
yet decide to favor one offer
or the other.
The RBS bid, mostly in
cash, was worth $96.6 billion
at Friday's closing share
prices, while the Barclays
bid, mostly in shares, was
worth $875 billion.
Either deal would be the
largest in the history of the
financial industry.


* COMPUTERS
SUN MICROSYSTEMS
BEATS EXPECTATIONS
Sun Microsystems
(SUNW) posted a fiscal
fourth-quarter profit that
beat Wall Street's expecta-
tions as the server and soft-
ware maker benefited from
lower expenses and
increased adoption of its
open-source operating sys-
tem.
Sun said it earned $329
million, or 9 cents per share,
for the quarter ended June
30. That compares with a
loss of $301-million, or 9-
cents per share, during the
-same period last year.
Revenues were $3.84 bil-
lion, a slight increase from
the $3.83 billion in sales the
Santa Clara-based company
had last year.

ELECTRONICS
RADIOSHACK POSTS
PROFIT, SHARES SKID
A yearlong turnaround
effort at RadioShack
(RSH) appeared to falter
Monday as the electronics
retailer swung to a second-
quarter profit but saw reve-
nue decline 15 percent
because of softening sales of
cellular phones and other
key products. Its shares sank
11 percent.
RadioShack reported net
income of $47 million, or 34
cents per share, for the three
months ended June 30 ver-
sus a loss of $3.2 million, or 2
cents per share, a year ago.
Revenue fell to $934.8
million from $1.10 billion in
the previous year.
Shares plunged $3.25, or
11 percent, to $25.55.

RUSSIA
TYCOON SEEKS OK
TO BUY OIL GROUP
Russian aluminum
tycoon Oleg Deripaska's
company said it is seeking
regulatory approval to buy
the Russneft oil group Russ-
neft.
The move came as the
group's leader, Russneft
President Mikhail Gutseri-
yev, resigned after charging
that he was being forced out
in a campaign by police and
tax authorities. A spokes-
man for Basic Element,
Deripaska's holding com-
pany, said it had applied for
anti-monopoly permission
to acquire Russneft, which
pumps 320,000 barrels of
crude per day, and expected
a decision within a month.


LATE TRADING


635 p.m
dose
147.38
537
29.40
147.75
48.62
100.75
32.8
33.79
23.87
37.81
11.95
84.87
26.49


Stock
Symantec
iShR2K nya
RdxSPEW
Schwab
BcBrades s
SBA Com
ApolloGrp
Target
Atmel
JnprNtwk
Citigrp
SiriusS


635 p.m.
dose
19.20
77.88
49.47
20.00
2558
33.60
61.04
62.82
5.50
30.64
47.20
3.00


BY DAVID MERCER
Associated Press
CHAMPAIGN, Ill. Corn
farmers aren't the only ones
who have been thankful for
rain in the past few weeks.
Ethanol producers are also
happy that the rain helped the
corn their main ingredient
rebound from what was
shaping up to be a mediocre
growing season.
Rain has fallen off and on
through most of July in parts
of the central and eastern
Corn Belt, just as the crop
started pollinating.
The rain has improved the
health of the crop and, to the
delight of ethanol makers,
driven down corn prices.
"This has really helped to
increase the profitability for
ethanol producers," said Rick
Kment, an ethanol analyst
with DTN, an Omaha, Neb.-
based agricultural market
information company.
Farmers planted a record
92.9 million acres of corn this
year, based largely on the
expected demand for ethanol.
Production of the fuel additive
has risen more than 40 percent
since 2004, according to the
industry trade group Renew-
able Fuels Association, with
demand increased by high oil
Prices.
But a lot of that crop grew


SWEET CORN: Mid
Missouri Energy
produces
ethanol near
cornfields in
Malta Bend, Mo.
Ethanol
producers
benefit when wet
weather pushes
down corn
prices.


AARON EISENHAUER/AP


under sunny, cloudless skies
through June, leading to wor-
ries that all those acres might
yield relatively little corn.
Then came the rain, as
much as six inches so far in
July in eastern Iowa and west-
ern Illinois, according to the
Midwestern Regional Climate
Center. Iowa is the country's
top corn producer and Illinois
is No. 2, accounting between
them for 30 percent of corn
planted in the United States
this year.
In mid-June, a little more
than half of Illinois' corn crop
was in good to excellent con-
dition, according to the U.S.


Department of Agriculture.
Last week, that figure was 81
percent. In Iowa, it was still
healthy at 63 percent, held
down by dry conditions in the
western end of the state.
"It's no big mystery why
the good to excellent rating for
corn is at 81 percent," said
Emerson Nafziger, a Univer-
sity of Illinois crop expert.
In one week alone, an aver-
age of almost 2 inches of rain
fell across Illinois, he said.
Nationwide, 62 percent of
the corn crop is in good to
excellent shape, according to
the USDA, and a quarter is
considered at least fair.


FOOT LOCKER ON THE RUN


PATRICK FARRELL/HERALD FILE, 1995
Foot Locker, the largest U.S. shoe retailer, put itself up for sale. The company also
cut its second-quarter earnings forecast on plans to clear out unsold merchandise.
The net loss will be 17 cents to 20 dents a share, Foot Locker said. Foot Locker
stock closed at $18.80, down 25 cents, at the close of regular trading on the New
-York Stock Exchange.


INTERNET


Monster to cut 15 percent



of staff, lowers sales outlook


NEW YORK (AP) Job
site operator Monster World-
wide lowered its full-year
sales outlook on Monday and
said it plans to slash 800 jobs
in the wake of swelling legal
expenses.
Monster, which has been
grappling with an investiga-
tion into its stock option
grants practices, said second-
quarter operating expenses
swelled by 34 percent, largely
because of higher legal fees
and severance payments. Prof-
its fell 28 percent in the quar-
ter, even as sales rose.
In an attempt to cut costs,
Monster plans to streamline
functions such as human
resources and finances, which
have operated semiautono-
mously within each business
unit. The layoffs will be made
mainly in the North American
work force.
EXPENSES
The plan is expected to
reduce annual operating
expenses by $150 million to
$170 million.
Charges related to the plan
may range from $55 million to
$70 million, beginning in the
third quarter and into 2008,
according to the company.
"The restructuring plan
recognizes that we can and


The company also lowered its full-year sales
outlook to a range of $1.34 billion to $1.37
billion, down from an Aprilforecast for $1.36


billion to $1.4 billion.

will do better in driving
long-term performance for our
shareholders," said Sal Ian-
nuzzi, chairman and chief
executive, in a statement. "Our
top priority is to invest in key
areas that will improve the
customer experience and fos-
ter solid revenue growth,
while at the same time lower-
ing our cost base and stream-
lining operations."
RESTRUCTURING PLAN
The restructuring plan
includes additional annualized
spending of roughly $80 mil-
lion on advertising, promo-
tion, certain sales functions
and on new product develop-
ment.
The company also lowered
its full-year sales outlook to a
range of $1.34 billion to $1.37
billion, down from an April
forecast for $1.36 billion to $L4
billion. Analysts expect, on
average, $1.37 billion in 2007
revenue, according to a Thom-
son Financial survey.
Despite the lowered guid-


ance, investors and analysts.
were largely encouraged by
the restructuring plan, sending
the stock up Monday.
"We continue to believe the
near-term investments and
restructuring will yield ongo-
ing revenue and margin
improvements over the next
several years, barring a reces-
sion," said Banc of America
Securities analyst R.C. Robil-
lard in a client note.
For the third quarter, the
company expects sales to
grow at a similar pace as the
second quarter, but said
growth could be offset by the
removal of "work-at-home"
job postings and other types of
ads. The sales growth rate for
the fourth quarter is expected
to increase, according to the
company.
Monster's stock options
probe began over a year ago,
culminating in the resignation
of its previous chief executive
and chairman in October 2006.
Monster shares climbed
$2.26, or 6 percent, to $40.16.


Corn prices, which have
been easing since hitting $4 a
bushel in February, have
responded.
A DTN price index of cash-
market corn which
accounts for most of the corn
used to make ethanol, accord-
ing to Kment stood just
under $3 on Friday.
"You can make very good
returns at $3 corn," said Dave
Nelson, chairman of Minneap-
olis-based Global Ethanol,
which has plants in Iowa and
Michigan.
"When it gets to $4, it gets
pretty tight," he said.

SEC


New


regulation


agency


debuts


WASHINGTON (AP) -
A new regulatory organization
overseeing more than 5,000
investment firms and more
than 600,000 securities bro-
kers nationwide, combining
the monitors of the New York
Stock Exchange and the U.S.
brokerage industry, began
operations on Monday.
The Financial Industry
Regulatory Authority is the
largest nongovernment securi-
ties regulator in the world,
with some 3,000 employees in
main offices in Washington
and New York, and in 15 dis-
trict offices around the coun-
try.
The agency, which will also
be known as FINRA, will over-
see enforcement, arbitration
and mediation of customer
complaints, and rule writing
for the securities brokers and
dealers.
A NEW ERA
Creation of the single self-
regulatory organization, from
the combination of NYSE Reg-
ulation and NASD, formerly
the National Association of
Securities Dealers, is one of
the biggest changes in the sys-
tem governing policing of the
U.S. securities markets since
the creation of the system dur-
ing the Great Depression.
Richard Ketchum, the chief
executive of NYSE Regulation,
will be the nonexecutive board
chairman of FINRA during a
three-year transition period.
FINRA will operate under
the oversight of the Securities
and Exchange Commission,
which granted final approval
to the combination last Thurs-
day.
The new organization, first
proposed in November, is
intended to cut costs by elimi-
nating duplications within the
operations of the two groups,
which are self-regulatory.
"With investor protection
and market integrity as our
overarching objectives,
FINRA will be an investor-fo-
cused and more streamlined
regulator that is better suited
to the complexity and compet-
itiveness of today's global cap-
ital markets," said Mary
Schapiro, the NASD chair who
now has become FINRA's
chief executive officer.
ANTI-INVESTOR?
While the securities indus-
try has mostly favored the
change, some critics have said
the consolidation of the two
regulatory organizations could
erode investor protection.


SPDR SPY
SuMkro SUNW
Micosoft MSFT
iSSPS00 IW
PwShsQQQ QQQQ
USSteel X
Kraft KFT
SP Ficl XLF
Intel INTC
HomeDp HD
BISYS 6 BSG
HarrahE HET
Comcsps CMCSK


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T T NE JL 7 G


Realtor 'kickstarts'





his rising career


is aiming to 'kickstart' his rise
through the real estate pro-
fession after successfully
completing Ninja Selling Courses I and II
in the US.
The courses have left Carlyle Campbell
one step closer to becoming a Certified
Residential Specialist (CRS) and a bro-
ker after nearly four years at Bahamas
Realty.
The youngest member of the super-sell-
ing Bahamas Realty team, who is already,
a licensed salesperson and certified assis-
tant appraiser, completed the Ninja Selling
Courses I and II, which are geared toward


building relationships with the customer to
help them achieve their goals.
"I don't think people can just get up
and say they want to be in real estate,"
said Mr Campbell. "You must have a cer-
tain personality that draws people to you,
builds trust and natural sales ability to
succeed in the industry.
"Through the courses, I got a better
appreciation of how buyers think and how
to work withthem on all levels whether
they are first time buyers or purchasing a
million dollar estate."
MrCampbell is optimistic about his
future, and about real estate in the
Bahamas.


"Bahamas Realty is the best training
ground for anyone who takes this profes-
sion seriously," he said. "I have mentors
such as Larry Roberts and Mario
Carey........ When people like that take
you under their wing you are given oppor-
tunities to go beyond your expectations."
Bahamas Realty's chief executive, Mr
Roberts, said: "Carlyle is hardworking,
and if he continues on the path he is on, he
will have a successful career.
"I appreciate that he not only a con-
tributing member on the realty sales team,
but he takes the time to listen, observe
and learn from the more seasoned mem-
bers."


S Double Cotton, Moire Drapes ... $160.00( 1
Triple Cotton, Moire Drapes .................$190.00
1Print Sheers Double .... .. ...... 100.00
Mini Blinds with Sturdy Headrail:
Double 72 x 48 ....- $25.00
Si x 48 .... ............. .................$10.00
52 x 48.- .----.-.-.-... $20.00
Available in White & Alabaster
S Drapery Rods and Rod Sets available up to 312" Get
m, 20% off.
Remnant Upholstery Fabric $2.00 per yard


Response times 'most


damaging' to financial sector


FROM page 1

are formed the turnaround
time is remarkable compared
to the time taken in the
Bahamas.
"Clients are prepared to pay
more money to do something
in. the Cayman Islands than the
Bahamas because of the turn-
around time, and because they
believe they will have a better
working relationship. That's a
problem we can fix."
Mr Winder called for
improved collaboration
between the Bahamian private
and public sectors when it
came to the financial services
industry, saying both sides
needed to understand the oth-
er was also "trying to accom-
plish the same goals".
But without an improvement
in service quality and response
times, Mr Winder said the
financial sen ices industry's
competiti'ene-s would not
improve no matter how many
new products or laws were
developed.
"As industry professionals
we all have to, whether it's
lawyers, accountants or the
public sector, set target goals as
to turnaround time," he added.
"The challenge for us, even
though we have good infra-
structure, have more accoun-
tants, have more local lawyers,
we are still not getting the job
done as quickly as we need it
to be done. That's hampering
us.
"That's where we not being
competitive. That's where
we're being challenged. We all
have to sit, look and talk about
how we can change that."
Mr Winder said computeri-
sation and technology
upgrades were required to
enhance public sector respon-
siveness, while the Bahamas
also had to improve how court
records were kept and
accessed.
"These are all things that


Bahamians can solve. We don't
need someone from outside
the Bahamas to solve it," Mr
Winder said.
Services
He pointed out that the
Bahamas rated highly among
international financial services
clients as a place to come, stay
and relax for several days, as it
had more things.to do and see
than other international finan-
cial centres.


On regulatory consolidation
in the Bahamas, Mr Winder
said this would not cut costs,
reduce red tape and enhance
responsiveness unless rules and
procedures were in place to
allow different regulators to
speak and communicate with
one another.
Otherwise, he added, banks
and other financial institutions
would still find themselves
dealing with multiple regula-
tors and agencies, and response
times not minimised.


WINING BAV



Requirements
Over 7 years experience(preferably in hospitality or high-end
residential design) with a bachelors Degree in Interior Design from
an accredited school.
Responsibilities
* Select all FF&E items and document all design for turn-key
cottages (including FF&E Specifications)
* Make all interior material and finish selections
* Purchase and install all FF&E items for turn-key cottages
(co-ordinate 6 man installation crew and 6 man carpenter crew)
* Work with Sales Team and meet with prospective and existing
homeowners to review furniture layouts and furniture & fabric
selections
* Co-ordinate in Branding of Cottages (new and existing) including
production and submission of elaborate presentation board
* Co-ordinate with various subcontractors including, but not
limited to, electrical, plumbing, painting and art consultants
* Purchase and design cottages interiors to budget
Skills .
Strong teamwork skills
SExperience organizational and project.management skills
SExceptional communication skills both graphically and verbally
* Proficiency in Microsoft Office particulary Excel)
* AltoCAD knowledge is aplus
* NCIDQ Certificate holder plus
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 or 242-677-3849


The Nature Conservancy's Northern Caribbean Program is seeking to fill the position of Office
Manager. The In-country Office Manager performs or oversees all financial and operational
transactions .of the Northern Caribbean office. The Office Manager processes (or oversees) the
local payroll and ensures that all required tax withholding, payments and corporate contributions
to appropriate government agencies are made. S/he handles external vendor accounts and
payments, internal accounting transactions (reimbursements, petty cash, etc.), and prepares/
monitors the budget for the office's administrative operations. S/he manages in-country bank
accounts) and prepares monthly expense report for the Conservancy's Worldwide Office detailing
office income and expenditures. S/he works as needed with Regional Finance & Operations staff
and in-country external accounting advisors to ensure that operations comply with local legal, fiscal,
and labor requirements. S/he ensures that all office transactions comply with TNC's policies &
procedures and maintains appropriate and accurate files. The Office Manager is responsible for
office logistics and supervises/oversees maintenance, janitorial, reception, and security services
as well as coordinates all office related tasks such as purchasing supplies and office equipment.
S/he coordinates (or oversees) relationship with external travel agency (if any). S/he shall act as
the office liaison to the department'of Technology and Information Systems. S/he shall also act as
office liaison to the department of Human Resources as well as carry out tasks related to personnel
administration including paperwork related to new hires or adjustment of an employee's of status,
new employee orientation, and time report management. The Office Manager is responsible for
maintaining efficient and effective operations of the office and for addressing all local compliance
issues stated in External Compliance Audits.


* Bachelors degree in Accounting, Bdusiness Administration, HR Management plus 3-5 years
related experience or equivalent combination. Non-profit accounting and U.S. government
grants accounting experience desirable.
* Excellent verbal and written skills in English
* Demonstrated experience in MS Office, Word and Excel. Technical command of spreadsheet
programs, general ledger reports and other financial management tools.
* Knowledge of current trends and legal requirements in financial, payroll and labor law.
* Supervisory experience, including ability to set objectives and manage performance a plus.
* Proven organizational and analytical skills and attention to detail.

Interested persons should apply in writing with full details, including resume and cover letter by
August 6, 07 to bahamasatnc.orq.


ASSOCIATED BAHAMIAN DISTILLERS & BREWERS LIMITED


(a public company incorporated under the laws of the Commonwealth of The Bahamas)


NOTICE is hereby given pursuant to Section 64(l)(b) of the Securities Industry Act,
1999 of a material change in the form of a proposed private placement offering of
$18,000,000 Class "A" Redeemable Fixed Rate Bonds (the "Bonds") of ASSOCIATED
BAHAMIAN DISTILLERS & BREWERS LIMITED.


This notice is not, and should NOT be construed as, an offer to sell the Bonds
or the solicitation of an offer to buy the Bonds.






By order of the Board of Directors
ASSOCIATED BAHAMIAN DISTILLERS & BREWERS LIMITED


Vacancy For The Position Oft


Core responsibilities:

* Acts as Relationship Manager to high risk clientele by
liaising with clients to determine needs and resolve issues,
providing answers and communication wherever
necessary.
* Perform maintenance and records management on existing
portfolios and advise Credit Risk Consultants of any
issues.
* Perform constant follow up on high risk/impaired accounts
and institutes proper procedures regarding the collection
of same.
* Assess financial position of high risk/impaired loans.
* Prepare credit proposals by conducting comprehensive
financial and non-financial analysis.
* Provide coaching, guidance, and direction to line lenders
in the assessment and structuring of credit facilities.



Knowledge, Skills and Abilities:

* Bachelor's Degree and five or more years of credit
experience.
* Strong accounting and financial analysis skills.
* Strong negotiation skills.
* Detailed knowledge of credit and collections.
* Core knowledge of legal practices and documentation.

Benefits include: Competitive salary commensurate with
experience and qualifications; Group Medical (includes dental
and vision) and life insurance; pension scheme.

Interested persons should apply no later than August 17th,
2007 to:
DA 8104B
c/o The Tribune
P.O. Box N-3207
Nassau, Bahamas


I Toadvetisein Te Nbg, jst c ll 3218


THE TRIBUNE


TUESDAY, JULY 31, 2007, PAGE 5B







PAG 6B USA, JUL 3120 TH TR,^ .^ W ,;.------. .^ y IBUN

OF HE COE TE BAHAMAS
ifno,I-FHE COLLE orGCF FLUE.BAHAMAS'


Visit our website at www.cob.edu.bs


EDUCATING & TRAININGBAHAMIANS


THE BECKER CPA REVIEW
BAHAMAS LOCATION- Nassau

Starts: 18th August, 2007
Since its debut, the Becker CPA
Review Programme has consistently
delivered superior exam preparation.
Clearly, Becker offers distinct and
unparalleled advantages that no other
CPA review course can deliver. We
can help you to chart a course for a
successfid and rewarding career in
professional accounting!
CLASSES MEET: Saturdays- 8:30am 5:30pm
The Certified Public Accountant (CPA) examination is the leader and grandparent of all professional accounting examinations.
The benefits include increased confidence and competence. and recognition as a member of an elite group of professionals.
Opportunities available to CPAs are positions in government or not-for-profit organizations, public or private companies. As a
CPA, you could specialize in Information Technology Services. Financial Planning, Auditing, Estate Planning, Management
Accounting, Public Accounting. Tax Administration. International Accounting, accounting education, and much more. We can
help you to chart a course for a successful and rewarding career in professional accounting!
Ask About Our Easy Payment Plan!
Financial Reporting (F): $ 650
Regulation (R): $ 520
Business & Economic Concepts (B) $ 455
Audit & Attestation (A) $ 455
FEES: $ 165
* Tuition is same as United States rates: $2,100
* Repeat Candidates: 50% Discount on Tuition'
* Tuition Free.Continuing Help Available to Qualified Applicants
Books and Materials: Permission for purchase with proof of registration
Fees arid Tuition may be paid in cash, by credit card or Bank Certified Cheque to The College of The Bahamas
Business Office, Oakes Field Campus, Poinciana Drive. CEES Reserves the Right to Change Tuition, Fees, Course Content,
Course Schedule and Course Materials.
For additional information, please contact
THE COLLEGE OF THE BAHAMAS
Centre For Continuing Education & Extension Services (CEES)

Tel. (242) 325-5714/328-0093/328-1936 Fax: (242) 322-2712


- v *' -


Ad Distribution Date: 17 July 2007
i4 r


The College of The Bahamas Alumni Association


Hall of Fame

SEEKING NOMINATIONS
S: What We Are About
HALL OF FAME? The Alumn Association Hall of Fame was established in spring of 2001 by the'
MEMBERS Executive Board of the Association. The purpose is to recognize annually a COB
alumna/alumnus who is making significant contributions to the development of The
efforts of the Association.
On May 11, 2001, the Alumni Association named Bishop Neil C. Ellis, Pastor,
Mount Tabor Full Gospel Church as its first inductee. Subsequently named were
'1 Larry Gibson, a financial services expert (2002); Laura Pratt-Charlton, a pharmacisV
IlC.Efi -200 entrepreneur (2003); Tanya McCartney, an attorney and a former member of
't the Senate (2004), Vernice Walkine, Director General of Tourism (2005) and
Superintendent of the Royal Bahamas Police Force, Keith Bell (2006).
Each honouree is presented with a 36" Silver European Cup, which symbolizes his
SI :, or her outpouring of inspiration that causes others to thirst for "knowledge, truth
r` y' i L bi n ." and integrity", the values promoted by The College of The Bahamas and reflected
n... '-., in the institution's motto.


i ,"9


Tanya C. McCartney 2004


20-


Hall of Fame Award Criteria:
What It Takes to Be Nominated and
Become a Member of The Hall of Fame.
The Alumni Association of The College of The Bahamas views induction into its Hall
of Fame as its highest honour. It is a designation extended to individuals whose
lives are the hallmark of The College's motto "Knowledge, Truth, Integrity."
To be considered for the Alumni Association Hall of Fame, nominees must
* Have distinguished themselves as students, academically and socially, while at
The College of The Bahamas
* Be among the best in their chosen fields of endeavour, displaying scrupulous
conduct that stands as an example to others.
* Be a leader and relentless worker whose success benefits co-workers, those they
supervise or employ and the community in general
* Excel in civic outreach and make a contribution to society that is easily visible
within their fields and the wider scope of Bahamian life
* Exhibitstrength ofcharacterthattranslates generallyinto communitystrengthening,
personifying their alma mater's motto "Knowledge, Truth, Integrity."
* Be nominated.


The Hall of Fame Award Nomination Form
may be obtained from
The Office of Alumni
Administration Block
Oakes Field Campus
Or may be downloaded from www.cob.edu.bs
All nomination forms,,along with a current portfolio and photograph,
must be submitted by Monday, 31st July, 2007.
For more information, please call the Office of Alumni at 302-4365/6.
Portfolio Size: Five (5) pages Font size: 12 pt Paper 8.5 inches X 11 inches


.rr .


THE COLLEGE OF THE BAHAMAS


O ffic of 'eic cAfairs
PattieFaut Adveriseent


School of Communication and Creative Arts
Foreign Languages (Spanish & French)

School of English Studies


College English

School of Sciences and Technology
Biology
Chemistry
Mathematics

School of Social Sciences
History
Psychology
All candidates must have earned degrees from a recognized accredited
institution in the relevant subject area plus five (5) years of teaching
experience and must be available to teach on evenings and weekends.
To ensure consideration, application materials must be received
by July 31, 2007. A complete application packet consists of an
application letter, a College of The Bahamas' Application Form,
a detailed curriculum vita, copies of all transcripts (original
transcripts required upon employment) and the three confidential
references addressed to:

The Director
Human Resources
The College of The Bahamas
Oakes Field Campus
Thompson Boulevard & Poinciana Drive
P. 0. Box N-4912
Nassau, Bahamas

Please visit the College's website at for more information about the
institution and to access the College's Employment Application Form.


I*









Parents' Evening

Tuesday, 14th August, 2007 at 6:30 p.m.


Orientation

Wednesday, 22nd August, 2007

8:00a.m. 1:00p.m.


Advisement & Registration

Wednesday, 22nd August, 2007

at 1:00 p.m.- 5:00 p.m.


Advisement, Registration & Bill Payment

Thursday, 23rd August, 2007 and

Friday, 24th August, 2007

at 9:00 a.m. 7:00 p.m.

Venue: COB Band Shell


'


THE TRIBUNE


PAGE 6B, TUESDAY, JULY 31, 2007


EM


xo,





THE TRIBUNE TUESDAY, JULY 31, 2007, PAGE 7B


T (i 'OLL.:.. Or F THE BAHAMAS
Visit our website at www.cob.edu.bs FJ)UCAW LG ( ; t LAVWCBdfdINAh





The College wishes to clear up any misconception,
which may have arisen from an article that appeared
in the Friday 20th July, 2007 edition of
The Tribune under the headline,
Science alumni are enlisted to
teach at COB summer camp.

The College of The Bahamas
wishes to state that, contrary to the impression given
in the article, the summer camp was
NOT a COB initiative and neither has the
institution made any such claim.

The Camp is organized by Innoworks,
an international organization of bright young university
students, who wish to promote mathematics and the sciences
and increase the number of young people who specialize in
these areas. The Camp was sponsored entirely by
Colinalmperial Insurance Ltd. and directed by Peter Blair,
an alumnus of The College. The College deeply appreciates
the part that generous corporate citizens play in community
building and believe that such work should be recognized
and praised. The College is pleased that our own bright
math and science majors, members of
COB's Innoworks Chapter, were given the
opportunity to make a contribution to this fine effort.



International:

Conference

Abolition of the Trans-Atlantic Slave Trade:
Telling the Story
The College of The Bahamas February 21-23, 2008,
Nassau, The Bahamas


Call for Papers


A- *


The College of The Bahamas will host the Conference: "Abolition of The Trans-
Atlantic Slave Trade: Telling the Story. February 21-23, 2008 at the Oakes Field
Campus, Nassau.


Abstracts of approximately 200 words are invited on the following topics:


* Language and Oppression
* Religion in Slavery: Agent Provocateur or Opiate?
* Slavery and Human Sensibility
* Power and Enslavement
* Kinshin a rnes thae iascnnra


XIMllIiulp uIWUUb Lilt! 1 pluwv u
Identity: Culture, Race and Gender
Enslavement and Liberation: Pedagogy
Liberation: Ideologies, Contexts and Dynamics
Liberation: Simple Past or Present Continuous?
Please send abstracts as an attached Word file to Jessica Minnis, Chair of the.
Conference Committee at abolitionconference@cob.edu.bs no later than Frida,
August 31, 2007.
Conference Structure
The conference will feature 20-minute papers from all disciplines, followed by 10-
minute discussions, presented in concurrent and plenary sessions. Panel and
poster proposals will also be considered. Such proposals should be as complete
as possible.
Submissions (an electronic copy) should be directed to:
Jessica Minnis
Associate Professor
School of Social Sciences
The College of The Bahamas
Oakes Field Campus
P O Box N4912
Nassau, Bahamas
E-mail: abolitionconf@cob.edu.bs
Deadline for Submission: Monday, December 31, 2007.
Accommodation for Non-Resident Delegates
Information will be forthcoming.
Registration


Three Days:
Day Rate:
Late Registration Fee:
Student Rate:
Student Day Rate:


$450.00
$150.00
$125.00
$150.00
$ 75.00


For information on the availability of student subsidies, please contact:
Vice President Research, Graduate Programmes and International Relations
Tel: (242) 302 4455.
Registration is open and online at http://www.cob.edu.bs/abolitionconf.php.


BAHWMAS -HE QWE

SER ICEES L


egret to advise that their


rEmail and Internet Ordeing


System are experiencing


severe problems as a


result of sporadic


: service omrn Coraiwave.




a. *, o a


T' ,'i

The Tribune
/ttj4 ,yUfft /(sute4?V


"Reporting for The Tribune is a
responsibility and privilege. We
respect and honour the people's
right to know everyday. I'm
proud to be a part of the leading
print medium in The Bahamas.
The Tribune is my newspaper."
RUPERT MISSICK, JR.
CHIEF REPORTER, THE TRIBUNE

To report the news, call our
News Tips Line at 502-2359.


THE TRIBUNE


TUESDAY, JULY 31, 2007, PAGE 7B


- :

i
.i.







PAGE 8B, TUESDAY, JULY 31, 2007


THE TRIBUNE


PEGASUS, from l-

the Company and manage- at least a portion of their loss-
ment. The company and its es."
executives have watched the When contacted by The Tri-
market price of its shares being bune about Pegasus confirm-
reduced to a small fraction of ing its closure, Christopher
its true value, irregardless of Lowe, the Grand Bahama
anything done to stop this pre- Chamber of Commerce's pres-
cipitous decline. ident, yesterday agreed with
"The Board of Directors has attorney Fred Smith that the
evaluated various options to episode showed how the Gov-
maximise shareholder value ernment needed to stay out of
from this situation, and business licensing decisions in
believes that this restructuring Freeport, leaving the issue to
provides the best opportunity the Grand Bahama Port
for the stockholders to recover Authority (GBPA).


COMMONWEALTH OF THE BAHAMAS 2006/GEN/eqn/1181

IN THE SUPREME COURT

Equity Side

ALL THAT tract piece and lot of land situated
at Kemp=s Bay in the island ofAndros
containing 1.485 acres bounded on the NORTH
by property now running thereon 357.43 feet '
EAST by Road Reservation 30 feet wvide and
running thereon 161.91 feet SOUTH by
property now or formerly of Gwendolyn Forbes
and running thereon 361.82 feet WEST by a
public road running thereon 200.01 feet

ALL THAT tract piece and lot of land situated
at Kemp=s Bay in the island of Andros
containing 1.277 acres and bounded on the
NORTH by property now or formerly of
Alexander Forbes and running thereon 417.84
feet and EAST by 20 foot wide Crown Land
Reserve and running thereon 110 feet and
SOUTH by public cemetery and running
thereon 416.38.feet WEST by Rod
Reservation and running thereon.158.47 feet;
AND
IN THE MATTER OF THE QUIETING TITLES ACT, 1959
AND '
IN THE MATTER OF THE PETITION of STEADMAN FORBES
NOTICE .

STEADMAN FORBES, the Petitioner claims tobethe owner in fee simple in

possession of the said piece parcel or lot of land and had made application to the Supreme

Court of the Commonwealth of The Bahalias under Section 3yof The QuietingTitles

Act,1959, to have the said piece parcel of lot of land investigated and the natureand

extent thereofdetermined and declared in a Certificate of Title to be granted by the Court
in accordance with the provisions 6othe said Act .

SCpies of a diagram or plan showing the position boundaries shape marL and

dimensions ofthe said piece parcel or lot of land filed in this matter may be inspected

during normal working office hours atthe following places

I. The Registry of the Supreme Court, Asbacher House, Eat Street Nassau;

2. The officeofArthurD.Hania&Co.,; 10 Deveaux Street, Nassau, The

Bahamas, attorneys for the Petition r; and .

3. The Adminislrator-s Office, Kenps Bay. Andros, The Bahnas.

NOTICE is hereby given that any such person.hav draw a right ofdower oran

adverse claim or a claim notrec6gnized in the petition shall within Thirty (30) days tier the

appearance of Notice herein filed in thieRegistr of the Supreme Court in thc Cit) of Na.sau

aforesaid and serve on the Petitioner or the undersigned a statement of his, her or its claim in the

prescribed fomi verified by an Affidavitto he filedtherewith .

Failure of any such person to file and serve a.Statement ofhis her or its clain'on or before the

said Thirty (30) days herein will operate as a bar to sucd claim.



ARTHUR D.HANNA& Co.
Attorneys for the Petitioner
Chambers
10 Deveaux Street
Nassau, Bahamas


"It's interesting how the
truth will always out," Mr
Lowe said, given the continu-
ing silence of Mr Knabb. "This
is a prime example of business
not being the core reason for
being here.
"This will have a direct
impact on 100 people, and it's
unfortunate that some of these
people did leave stable jobs for
that company. I think they will
have a tough time finding
employment among existing
companies."
Many Grand Bahamians
believe that Pegasus Wireless,
which was brought to Grand
Bahama by former Prime Min-
ister Perry Christie and then-
minister of tourism, Obie
Wilchcombe, rather than the
GBPA, was just a political tool


designed to boost the re-elec-
tion chances of the company's
attorney, Pleasant Bridgewa-
ter, the PLP senator and for-
mer MP.
Ms Bridgewater has said she
does not know what is hap-
pening with Pegasus, as she is
not involved in its day-to-day
operations and only handles
its legal affairs.
However, recruiting for
Pegasus staff took place at her
law offices, and sources who
visited the company's factory
during its early stages have told
The Tribune that Ms Bridge-
water then appeared to be
working from its premises.
Mr Lowe himself yesterday
described Pegasus Wireless as
a "political ploy; it was a gift
that didn't have any long-term


Bahamas Genesis Life Center


Raffle which was schedule for

July 28, 2007 has been Postponed.



All tickets sold will be honored

on the new date. For information


call: 394-0734





APPLICATIONS ARE INVITED FOR THE POSITIONS OF:

1. Manager Private Island

Applicant should satisfy the following minimum requirements:

* Have a First Degree in Marine Engineering from a recognized
College/University, or equivalent on the job experience and training
At least two years experience in the hospitality industry or closely
related field
Will be required to reside and be fully responsible for the operation of the
entire island
Must be computer literate
Be proactive, self motivated and willing to work long hours
Be able to lead a team of technicians with varied trades
Be able to set the trend for timely and quality work performance

2. Chief Engineer

The successful applicant will be required to reside and be responsible for the
complete Engineering/Maintenance Operation.of a small hotel on a private
iglhHa 'This'friilUdes: '''". :-:

SBudget preparations and stock cotrols
SHVAC & Refrigeration Systems
* Waste water treatment
* Reverse osmosis water plants
* Standby generators
* Commercial kitchen equipment
* Spa, pools and Jacuzzi equipment
* Laundry machines
* Environnmeital and computerized energy management systems and
preventive maintenance
Water sports facilities & marine engine maintenance

3. Food & Beverage Director

SUniversity or College degree in Hospitality Management with special
emphasis on Food & Beverage operations.
A minimum of 5 years in similar position of a luxury hotel/resort
Good knowledge of the culinary arts and international cuisine.
Experience in food & beverage training.
Must be computer literate in Excel & Word
Strong communication skills oral and written.
Have strong organizational and leadership skills.


Serious applicants should send resume to:
steve@sribahamas.com or by fax to Human.Resources at
242-322-4770


prospects. It was a flash in the
pan".
He added of the Pegasus
Wireless debacle: "I certainly
think it shows the need for
renewed vision for
Freeport/Grand Bahama and
the Bahamas as a whole with
respect to investment policies
and the authority of the Port
Authority.
"The Government and the
Port Authority yet again need
to collaborate a little better
than they have traditionally
with respect to who we are
aiming at, and what identity
we are aiming at. What [eco-
nomic] identity are we willing
to embrace, and do better due
diligence."
Mr Lowe said he did not
believe the Pegasus Wireless
debacle would impact
Freeport's ability to attract
other, more viable technolo-
gy, industrial and transhipment
companies, as any stigma from
the affair would be more like-
ly to follow the company.
"It indicates we should be a
little bit more forthcoming and
scrupulous in our affairs," Mr
Lowe.
The Tribune previously
revealed that Mr Knabb had
last year bought the mother


ship for the Korean fishing
boat fleet that was, in 2003. the
downfall for Sidney Stubbs as
Bahamas Agricultural and
Industrial (BAIC) chairman.
He is since understood to
have used it for 'treasure hunt-
ing' in Bahamian waters, and is
said to be living on the boat as
well.
This situation also shows the
need for the Government to
insist that investors coming
into the Bahamas provide
some sort of guarantee for
their financial obligations, such
as a performance bond, as Mr
Knabb is understood to have
no fixed assets in Freeport,
meaning he was able to sail
away quietly at night with no
one knowing.
Pegasus Wirless closed its
20,000 square foot warehouse
facility on Settler's Way in
Freeport less than five months
after it was formally opened
by Mr Christie, and less than a
year after Mr Knabb first
popped up in Freeport around
October/November 2006.
Office furniture and equip-
ment have been cleared out,
telephone service has been dis-
connected to the Pegasus
Wireless plant, and all staff
sent home.


Legal Notice

NOTICE


PEIR HOLDINGS LIMITED

(In Voluntary Liquidation)


Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
27th day of July 2007. The Liquidator is Argosa Corp.
Inc., P.O.Box N-7757 Nassau, Bahamas.







ARGOSA CORP. INC.
(Liquidator)


Legal Notice

NOTICE


,; '
42
I. '.y


BYLAND INVESTMENTS LTD.

(In Voluntary Liquidation)


Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
27th day of July 2007. The Liquidator is Argosa Corp.
Inc., PO.Box N-7757 Nassau, Bahamas.


ARGOSA CORP. INC.
(Liquidator)


BISNE @flmE C
Pricing Information As Of:
Tuesday. 24 July 200 7
IA.,- "-. ,, HAb .COM FOR MORE DATA &.INFORMAT ION
*,' 5 q .. OO/%CHGOOO.o/1YTD 161.84 / YTD % 09.66
.2wk.H, 52wk-Low Securit y Previous Close Today's Close Cnar. ge EDa.., EPS Di. PE Viela
1 83 054 Abaco Markets 166 1 6 o 00 0 000 0 000 N, 0 0 00
12.05 11.00 Bahamas Property Fund 11.60 11.60 0.00 1.527 0.400 7.6 3.45%
9.41 7.49 Bank of Bahamas 9.40 9.40 0.00 0.733 0.260 12.8 2.77%
0.85 0.70 Benchmark 0.85 0.85 0 00 -0.013 0.020 N/M 2.35%
3.65 1.48 Bahamas Waste 3.65 3.65 0.00 0.279 0.060 13.1 1.64%
1.49 1.20 Fidelity Bank 1.48 1.48 0.00 0.064 0.020 23.1 1.35%
10.75 9.10 Cable Bahamas 10.75 10.75 0.00 0.949 0.240 11.3 2.23%
2.35 1.80 Colina Holdings. 2.35 2.35 0.00 0.281 0.080 8.4 3.40*/
15.10 10.89 Commonwealth Bank 15.10 15.10 000 1.152 0.680 13.1 4.50%
6.32' 4.55 Consolidated Water BDRs 5.83 5.54 -0.29 0.112 0.050 52.1 0.86%
2.76 2.20 Doctor's Hospital 2.31 2.31 0.00 0.281 0.000 8.2 0.00%
6.40 5.54 Famguard 6.20 6.20 0.00 0.694 0.240 8.9 3.87%
12.70 11.50 Finco 12.70 12.70 0.00 0.787 0.570 16.1 4.49%
14.70 12.80 FirstCaribbean 14.65 14.65 0.00 0.977 0.470 14.6 3.21%
20.01 11.15 Focol 20.00 20.00 0.00 1.657 0.520 12.1 2.60%
1.00 0.54 Freeport Concrete 0.64 0.64 0.00 0.415 0.000 1.5 0.00%
8.65 7.10 ICD Utilities 7.25 7.25 000 0.411 0.200 17.6 2.76%
9.90 8.52 J. S. Johnson 9.90 9.90 0.00 0.946 0.580 10.5 5.86%
10.00 10.00 Premier Real Estate 10.00 10.00 0.00 1.167 0.600 8.6 6.00%
"- .,: ji : ' t `e-Counter Seurit.,es
52wkHi 52.-l'Low Symbol Bid S As L .:i ..:- 'V. V-'. .6, EPS D .t. 5. PiE Yela
14 60 12 25 Bahamas Supermarkets 14.60 1' r-0 1 i:.' 1 2:- 1 105 12 8 612"
10.14 10.00 Caribbean Crossings (Pref) 6.00 6.25 1000 0.000 0.640 NM 7.85%
0.54 0.20 RND Holdings 0.35 0.40 n.O 0.034 0.000 11.8 0.00%
j: f lier Securities
43.00 28.00 ABDAB 41.00 43.00 4 I 00 2.220 0.000 19.4 0.00%
14.60 14.00 Bahamas Supermarkets 14.60 15.50 14.00 1.234 1.125 12.6 7.71%
0.60 0.35 RND Holdings 0.45 0.55 0.45 0.021 0.000 26.2 0.00%
;5nk.-H 52wk-Low Fund Name NA V YTD;'.: LaSI ,. t.,.-.r.- .. V Ye d.
1.3476 1.2983 Colina Money Market Fund 1.347598"
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*"*
1 6049 11 0691 Fidelity Prime Income Fund 11.6049.""
":.-YTD 11 .98% / 200e 34 47-%,
BISX ALL SHARE INDEX 19 Dec 02 1.000.00 MARKET TERMS YIELD last 12 month dividonds divided hy d;.ngU price NAV KEY
52wk-HI Highest closing price In last 52 weeks Bid $ Buying price of Culina and F.daity
52wk-Low Lowest closing price In last 52 weeks Ask $ Selling price of Colina and fidelity 13 July 2007
Previous Close Previous day's weighted price for daily volume Last Price Last traded ove.-the-countlr ;nr
Today's Close Current day's weighted price for dally volume Weekly Vol. Trading volume of tlh prino k 30 June 2007
Change Change in closing price from day to day EPS $ -A company's reported earnings pes s are 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 N/M Not Meaningful
PIE Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock IndPx January 1. 1994 = 100 "" 30 June 2007
."" 30 June 2007
i FOR Ol E DATA & INFORMATION CALL 242 3942, 3Ut&


BUSINESS


bsslan~ssnnaaamaanr~sannnnr~










T R ED J 3 0 A


Sir


Jack seeks trial delay


as estate files new writ


FROM page 1

and Port Group Ltd dispute.
This has resulted from the
advice proffered by FMS's
attorney John Wilson, a part-
ner in McKinney, Bancroft &
Hughes, who said the company
"should be neutral" in the dis-
pute because new evidence he
had seen indicated that a single
share Sir Jack had recently
obtained and which gave him
majority control of FMS -
should not have been trans-
ferred to him.
The St George estate had
maintained that the single
share that Mr de la Rue trans-
ferred to Sir Jack in October
2006 was held jointly for the
benefit of Mr St George and
Frobisher Investments, a com-
pany wholly beneficially-
owned by Sir Jack.
However, Sir Jack and his
attorneys alleged that the
advice they received from
FMS's registered office, Cay-


man-based Campbell Corpo-
rate Services, was that the sole
share was held by them on
behalf of Mr de la Rue.
Mr Wilson said ge had been
unable to test the St George
estate's claim until Campbell's
indicated that the sole share
transferred to Sir Jack had
been held by them as nomi-
nees jointly for both Frobisher
Investments and Sir Jack.
"In light of this new infor-
Smation, in so far as the transfer
by Mr de la Rue to Sir Jack
Hayward is concerned, all cor-
porate actions taken on the
back of the transfer of this sin-
gle share, which held the bal-
ance of power in FMS, seem
to be in doubt," Mr Wilson
wrote.
"Additionally, it would
appear to me that the plain-
tiffs are correct in arguing that
FMS should be neutral in these
proceedings given the equality
of the ownership, and the fight
left to Sir Jack Hayward and
the estate of Mr St George."


In its latest writ, the St
George estate alleged that
FMS had been used by Sir Jack
and Mr St George as a nomi-
nee investment vehicles to hold
their assets and those of their
families, among them Mr St
George's 50 per cent stake in
the GBPA and Port Group
Ltd parent, IDC.
As a result, the St George
estate alleged that FMS was "a
bare trustee or nominee for
Edward St George" and, fol-
lowing his 2004 death, his
executors.
It is alleging that FMS com-
mitted a "breach of trust" by
breaching the nominee agree-
ment or FMS trust relating to
Mr St George's 50 per cent
IDC stake, refusing to follow
the estate's directions and
allegedly attending IDC meet-
ings on February 2 and March
20, 2007, that were designed
to enable Sir Jack and his
agents to gain control of IDC.
The St George estate is
alleging that FMS voted


against its interests on Febru-
ary 6 by 'confirming' that Lady
Henrietta St George be
removed as IDC chairman;
that Rick Hayward be appoint-
ed IDC secretary; and that two
Cayman attorneys, Ian Boxall
and Clive Harris, who work for
Sir Jack's Cayman attorneys,
Bodden & Bodden, be
appointed IDC directors.
Breach of trust and related
allegations are also made
against the other defendants.
Meanwhile, The Tribune has
learnt that the offer by Hutchi-
son Whampoa to acquire the
GBPA and Port Group Ltd by
purchasing the St George
estate and Sir Jack's IDC
stakes remains on the table,
although neither side has taken
it up.
Sir Jack is understood to
have met Canning Fok,
Hutchison Whampoa's global
managing director and Li-Ka
Shing's right-hand man, in
London recently.
The Tribune previously


reported that the Hong Kong-
based conglomerate, which has
invested some $1 billion in
equity in Freeport, has moved
to secure and safeguard its
investments in the Bahamas
given the ownership battle.
Multiple sources confirmed
to The Tribune that senior
Hutchison Whampoa execu-
tives had been meeting with
the Government in Nassau
with regard to the status and
security of their investments.
One idea that is understood
to have been floated in talks
between Hutchison and the
Government is that the Hong
Kong-based conglomerate
should acquire all the produc-
tive assets in Freeport that
used to belong to the GBPA,
but are now owned by its Port
Group Ltd affiliate.
What will be of more inter-
est is the reaction of the
Freeport Licensees & Proper-
ty Owners Association to the
current proposals involving
Hutchison Whampoa, espe-


cially as any change in the Port
Authority's ownership or asset
ownership has to be approved
by no less than 80 per cent of
them.
It is likely to be negative,
with many reluctant to see
Freeport become a 'one com-
pany town' with Hutchison
Whampoa all-powerful as a
regulatory and licensing
authority with quasi-govern-
mental, development powers.










INS IGH


BANCO


ESPIRITO


SANTO


CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2006 AND 2005


Assets
Cash and deposits at central banks
Deposits with banks
Financial assets held for trading
Financial assets at fair value through profit or loss
Available-for-sale financial assets
Loans and advances to banks
Loans and advances to customers
Held to maturity investments
Hedging derivatives
Non-current assets held for sale
Property and equipment
Intangible assets
Investments in associates
Current income tax assets
Deferred income tax assets
Other.assets
Total assets
Liabilities
Deposits from central banks
Financial liabilities held for trading
Deposits from banks
Due to customers
Debt securities issued
Hedging derivatives
Non-current liabilities held for sale
Provisions
Current income tax liabilities
Deferred income tax liabilities
Subordinated debt
Other liabilities
Total liabilities
Equity
Share capital
Share premium
Treasury stock
Preference shares
Fair value reserve
Other reserves and retained earnings
Profit for the period attributable to equity holders of the Bank
Total equity attributable to equity holders of the Bank
Minority interests
Total equity
Total equity and liabilities


(in thousands of euros)


15 1,084,927
16 672,976
17 4.192,458
18 1,498,592
19 5,251;684.
20 7.588,049
21 4.882.505
22' 593,171
23 178,653
24
25 382,929
26 68,652
27 571,563
14,094
33 79,767
28 2.078,786
59,138.806

1.043.175
17 1.308.524
29 6.827.386
30 21.993.671
31 19.030,469
23 238,612
24
32 139,882
39,356
33 168.670
34 2.239.816
35 1.286.794
54,316,355

36 2.500,000
36 668.851
36 (63.732)
36 600.000
37 512,042
37 97.997
420.714
4,735,872
37 86.579
4,822.451
59.138,806


The following notes form an integral part of these financial statements


KPMG & Associados Sociedade de Revisores
Officials de Contas, S.A.
Ediflcio Monumental
Av. Praia da Vit6ria. 71 A. 11
1069-006 Lisboa
Portugal


Telefone: +351210110 000
Fax: +351 210110 121
Internet: www.kpmg.pt


BANCO ESPIRITO SANTO, S.A.

AUDITORS' REPORT

(ISSUED BY THE STATUTORY AUDITOR, A CMVM REGISTERED AUDITOR)


Introduction

1. In accordance with the applicable legislation, we present our Audit Report on the


financial information included in the Report of the Board of Directors and in the
accompanying consolidated financial statements for the year ended 31 December 2006, of
Banco Espirito Santo, S.A., which comprise the consolidated balance sheet as at 31
December 2006 (showing total consolidated assets of Euros 59,138,806 thousand and
total equity attributable to the equity holders of the Bank of Euros 4,735,872 thousand,
including a profit for the year attributable to the equity' holders of the Bank of Euros
420,714 thousand), the consolidated statements of income, of cash flows and of changes
in equity for the year then ended and the corresponding Notes to the accounts.

Responsibilities

2. The Board of Directors is responsible for:
a) the preparation of the consolidated financial statements in accordance with the
International Financial Reporting Standards (IFRS) as adopted for use in the European
Union, that present fairly, the consolidated financial position of the Bank, the
consolidated results of its operations and its consolidated cash flows;
b) maintaining historical financial information, prepared in accordance with generally
accepted accounting principles which is complete, true, current, clear, objective and
lawful as required by the Stock Exchange Code ("C6digo dos Valores MobiliArios");
c) the adoption of adequate accounting policies and criteria;
d) maintaining an appropriate system of internal control; and
e) the communication of any relevant fact that may have influenced the activity of the
Bank and its subsidiaries, their financial position or results.

3. Our responsibility is to verify the consolidated financial information included in the
above referred documents, namely as to whether it is complete, true, current, clear,
objective and lawful as required by the C6digo dos Valores Mobilidrios, in order to issue
a professional and independent report based on our audit.


Scope
4. Our audit was performed in accordance with the Technical Standards, and Guidelines
issued by the Portuguese Institute of Statutory Auditors ("Ordem dos Revisores Oficiais
de Contas"), which require that we plan and perform the audit to obtain reasonable
assurance about whether the consolidated financial statements are free of material
misstatements. Accordingly our audit included:
verification that the financial statements of the companies included in the
consolidation have been properly audited and, in those significant cases in which they
were not, verification, on a test basis, of the information underlying the figures and its
disclosures contained therein, and an assessment of the estimates, based on the
judgements and criteria defined by the Board of Directors, used in the preparation of
the referred financial statements;
-verification of the consolidation procedures and of the application of the equity
method;
assessment of the appropriateness of the. accounting policies used and of their
disclosure, taking into account the applicable circumstances;
verification of the application of the going concern principle;
assessment of the appropriateness of the overall presentation of the financial
statements; and
assessment of whether the consolidated ,lancial information, is complete, true,
current, clear, objective and lawful.
5. Our work also included the verification that the consolidated financial information
contained in the Report of the Board of Directors is consistent with the financial
statements presented.
6. We believe that our audit provides a reasonable basis for our opinion.



Opinion
7. In our opinion, the consolidated financial statements referred to above present fairly in all
material respects the consolidated financial position of Banco Espirito Santo, S.A. as at
31 December 2006, the consolidated results of its operations and cash flows for the year
then ended in accordance with the International Financial Reporting Standards (IFRS) as
adopted for use in the European Union, and the information contained therein is
complete, true, current, clear, objective and lawful.


Lisbon, 28 February 2007


KPMG & Associados, SROC, S.A.
Represented by
Ines Maria Bastos Viegas Clare Neves Girgo de Almeida
(ROC n" 967)


A copy of the Annual Report E Audited Accounts may be obtained from Ansbacher
(Bahamas) Limited, Ansbacher House, Bank Lane, Nassau, Bahamas.


__


TUESDAY, JULY 31, 2007, PAGE 9B


I Notes 31.122006


- -1 7


THE TRIBUNE







PAGE---------B,---TUESDAY,_-------JULY----31,----2007-----THE----TRIBUNE-----


GN-542










SUPREME COURT







SUPREME COURT
COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
AUGUST 2ND, 2007
No. 2007/PRO/NPR/00361
Whereas JOYANNE WILSON nee JOSEY of the
Southern District, New Providence, one of the Islands
of the Commonwealth of The Bahamas, the Widow
has made application to the Supreme Court of The
Bahamas, for letters of administration of the Real and
Personal Estate of KEITH WILSON late of Butler's
Street, 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


COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
AUGUST 2ND, 2007
No. 2007/PRO/NPR/00343
Whereas ALEXANDER B. FERGUSON of
Blackbeard's Terrace, Eastern District, New Providence,
one of the Islands of the Commonwealth of The
Bahamas, Attorney by Deed of Power of Attorney for
the Widow has made application to the Supreme Court
of The Bahamas, for letters of administration of the
Real and Personal Estate of GERALD AUGUSTUS
BARTLETT, JR., late of Brigadoon, 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


COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
AUGUST 2ND, 2007
No. 2007/PRO/NPR/00344
Whereas SANDRENA C. BENJAMIN of Coral Lakes
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 with the
will annexed of the Real and Personal Estate of
ALBERT LIVINGSTON CLARKE late of Jimmy Hill in
the Island of Great Exuma, 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 21 days
from the date hereof.
Nicoyo Neilly
(for) Registrar




COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
AUGUST 2ND, 2007
No. 2007/PRO/NPR/00345
Whereas AVA NEELY of Carmichael Road 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 of the Real and Personal
Estate of RODNEY NEELY late of Shirley Street in
the Island of New Providence, one of the Islands of
the Commonwealth of The Bahamas, deceased.
Notice is hereby given that such applications will be
heard by the said Court at the expiration of 14 days
from the date hereof.
Nicoyo Neilly
(for) Registrar


PROBATE DIVISION
AUGUST 2ND, 2007.


2007/PRO/NPR/00
IN TH TAT PEARCE COADY (a.k.a.)
CHARL PEADOADY III, late of 18434
Hermitag Road, ock in the State of Virginia,
one of the States fle 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 NADIA A. WRIGHT of Sunset
Drive in the Western District of the Island of New
Providence, one of the Islands of the Commonwealth
of The Bahamas, Attorney-At-Law, the Authorized
Attorney in The Bahamas for obtaining the Resealed
Certificate/Letters of Qualification in the above estate
granted to ANTHONY HIGGINS, JOHN CLARKE
HIGGINS and W. REVELL LEWIS III, the Administrator
C.T.A. and Co-administrators C.T.A. of the Estate, by
the Accomack County Circuit Court, on the 28th day
of October, 2005:;:

Sf) Registrar
';. :
!. f ,'


PROBATE DIVISION
AUGUST 2ND, 2007


f007/PRO/NPR/00350
IN THE ESTATE OF WILLIAM V. GORRELL, late of
P.O. Box 756 East Stroudsburg in the County of Munroe
-in-the State of Pennsylvania, 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 MELISA AURINTHIA
THOMPSON-HALL of Faith Gardens in the Western
District of the Island of New Providence, one of the
Islands of the Commonwealth of The Bahamas,
Attorney-At-Law, the Authorized Attorney in The
Bahamas for obtaining the Resealed Letters
Testamentary in the above estate granted to SHIRLEY
J. GORRELL, the Executrix of the Estate, by the
Register of Wills of Monroe County, Pennsylvania, on
the 1st day of March 1984.
Nicoyo Neill,
(for) REGISTRAR
ej&---------------


COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
AUGUST 2ND, 2007


IPMo. 2007/PRO/NPR/00352
Whereas TROY ALFRED GRAY of Williams Town,
Exuma, one of the Islands of the Commonwealth of
COMMONWEALTH OF THE BAHAMAS The Bahamas, the Widower has made application to
THE SUPREME COURT the Supreme Court of The Bahamas, for letters of
PROBATE DIVISION administration of the Real and Personal Estate of
AUGUST 2ND, 2007: RENAMAE GRAY late of Williams Town, Exuma, one
6If the Islands of the Commonwealth of The Bahamas,


No. 2007/PRO/NPR/00347
Where YE. JONES of Mars City in the Count
of Madi n the State of North Carolina, one of theA
States of the United States of America has made
application to the Supreme Court of The Bahamas,.
for letter administration of the Real and Personal
Estate oMWEN URBAN JONES late of Mars City in
the Count of Madison in the State of North Carolina,
one of the States of the United States of America,
deceased.
Notice is herby given that such applications will be.
heard by the said Court at the expiration of 14 days
from the date hereof.

j Nicoyo Neil
(for) Registrar


COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
AUGUST 2ND, 2007

No. 2007/PRO/NPR/00348
Whereas PORTIA RENA LEWIS of Harbour IslandI.
one of the Islands of the Commonwealth of Tf '<
Bahamas has made application to the Supreme Coutl.
of The Bahamas, for letters of administration of th*l:
Real andrsonal Estate of PADDY COLYN LEWIS
late of i our Island, one of the Islands of the
Comm alth of The Bahamas, deceased.
Notice is hereby given that such applications will
be heard by the said Court at the expiration of 21 days
from the date hereof.
Nicoyo Neilly
(for) Registrar


COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
AUGUST 2ND, 2007


Deceased.
i:. Notice is hereby given that such application will be
heard by the said Court at the expiration of days 21
from the date hereof.
Desiree Robinson
(for) Registrar ,


COMMONWEALTH OF THE BAHAMAS
STHE SUPREME COURT
PROBATE DIVISION
AUGUST 2ND, 2007

J. No. 2007/PRO/NPR/00353
Whereas JOYCE WELLS of Hillside Park, Eastern
District, New Providence, one of the Islands of the
Commonwealth of The Bahamas, the Widow has made
application to the Supreme Court of The Bahamas,
Sfor letters of administration of the Real and Personal
Estate of WILLARD WELLS late of Hillside Park,
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
i from the date hereof.
Desiree Robinson
(for) Registrar


6A-E DIVISION
AUGUST 2ND: 2007


* 2007/PRO/NPR/00354
:'iIn the Estate of MARGARET MARY GREEN, late of
: Leichhardt, in the State of New South Wales, Australia,
deceased.
NOTICE is hereby given that after the expiration of
fourteen days from the date hereof, application I~ill be
made to the Supreme Court of The Bahamas, On its
* Probate Side by ARLEAN P. HORTON-STRACHAN,
of the Western District of the Island of New Providence,
one of the Islands of the Commonwealth of The
Bahamas, Attorney-At-Law, the Authorized Attorney
in The Bahamas, for obtaining the Resealed Grant of
Probate in the above estate granted to CATHERINE
STEWART MCGREGOR, the Executrix, by the Probate
Court of New South Wales, at Sydney, Australia, on
the 25th day of August 2005.
K. Mackey ;
(for) REGISTRAR


No. 2007/PRO/N 00351 PROBATE DIVISION
AUGUST 2ND, 2007
Whereas BERYL A REA WILLIAMS of 8 Benson
Road, Danottage Estatps Eastern District, New 2007/PRO/NPR/00355
Providence, and SIDNEY ALEXANDER CAMBRIDGE,
JR., of No. 9 Chancery Lane, Winton Estates, Eastern IN THE ESTATE OF LOUISE ROBERTS SATTLER,
District, New Providence, both of the Islands of the late of 629 Neptune Avenue in Ocean County in
Commonwealth of The Bahamas, Attorneys by Deed Beachwood in the State of New Jersey, one of the
of Power of Attorney for the Daughter has made States of the United States of America, deceased.
application to the Supreme Court of The Bahamas, 4'
for letters of administration of the Real and Personal. r" NOTICE is hereby given that after the expiration of
Estate of HARRY WOODROW COOPER late of then: 4furteen days from the date hereof, application will be
Eastern Road, Eastern District, New Providence, on ei made to the Supreme Court of The Bahamas in the
deceased. o .the Eastern District of the Island of New Providence,
S... ''I one of the Islands of the Commonwealth of The
Notice is hereby given such applications will be. I Bahamas, Attorney-At-Law, the Authorized Attorney
heard by the said Court ihe expiration of 14 days iin The Bahamas for obtaining the Resealed Letters
from the date hereof. Testamentary in the above estate granted to STEVEN
R. SATTLER, the Executor of the Estate, by the State
Desiree Robinson of New Jersey, Ocean County Surrogate's Court, on
(for) Registrar. the 8th day of June 2001.
Nicoyo Neil
(for) REGISTRAR


PAGE 10B, TUESDAY, JULY 31, 2007


THE TRIBUNE




V. P t


THE TRIBUNE


., ,.u/, PAGE 11B


GN-542


SUPREME COURT

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
AUGUST 2ND, 2007

No. 2007/PRO/NPR/00356

Whereas PATRICIA LINDSAY CASH of Bay
Street in the Island of Harbour Island, 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 CHARLES CASH
(a.k.a.) CHARLES REGINALD CASH late of Bay
Street in the Island of Harbour Island, 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 21 days from the date hereof.

Nicoyo Neilly
(for) REGISTRAR


COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION.
AUGUST 2ND, 2007

No. 2007/PRO/NPR/00358

Whereas EPHRIAM NOTTAGE (a.k.a.)
HOLSTON FERGUSON of Visa Marina Subdivision
in the Western District of the Island of New
Providence, one of the Islands of the
Commonwealth of The Bahamas has made
application to the Supreme Court of The Bahamas,
for letters of administration of the Real and Personal
Estate of ORELIA MAUREEN NOTTAGE JEROME
(a.k.a.) ORELIA MAUREEN FERGUSON late of
20230 N.E.'2nd Avenue in the 6ity of N. Miarmti :
SBeach i4$e Stat6'fFlorida,' oe'f tthe ~ tates f,
the United States of America, deceased. '

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

Nicoyo Neilly
(for) REGISTRAR



COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
AUGUST 2ND, 2007

No. 2007/PRO/NPR/00359

Whereas CONSTANCE E. MCDONALD of
Fortune Village in the Island of Grand Bahama,
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 BURTON HARRY TOWER late of 6800
Fleetwood Road, Fairfax County in the State of
Virginia, one of the states of the United States of
America, deceased.

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

Nicoyo Neilly
(for) REGISTRAR



COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
AUGUST 2ND, 2007

No. 2007/PRO/NPR/00360

Whereas CHRISTOPHER DELANCY of Wemyss
Bight in the Island of Eleuthera 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 JOSEPH DELANCY late of Wemyss
Bight in the Island of Eleuthera, 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 21 days from the date hereof.

Nicoyo Neilly
(for) REGISTRAR


Forthestrie
bein th e
raIn sight
on Mnday


Illiteracy's 'devastating'



effect on Bahamas



services economy


NOTICE OF SAL

The Town Court Management Company (hereafter "the
Company") invites offers for the purchase of ALL THAT Un
Number C-47 of The Town Court Condominiums situate
on Nassau Street in the Western District of the Island of Ne
Providence being a two bedroom/one bath apartment unit
together with ALL THAT 1.35% share in the common proper
of the Condominiums.

The company makes no representations or warranties with
respect to the estate of repair of the building situate thereof

The company will sell under Power of Sale contained in a
Declaration of Condominium of Town Court Condominiums
dated 8th October 1979 which is recorded in Book 3189 at
pages 366 to 405.

TERMS: Ten percent (10%) of the purchase price at the t
of contract and the balance upon completion wi
Thirty (30) days of contract.

This sale is subject to a reserve price. The Company reser
the right to reject any and all offers. ,P

Interested persons may submit written offers addre sd to
the Attorney SSS, P.O. Box N-272, Nassau, Bahamas to be
received no later than the close of business on the 1.th da
August, A.D. 2007. ,


E


lit



3rty



n.






lime
thin


ves



of
y of


0 By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
The functional illitera-
cy of young Bahami-
ans will have a devas-
tating impact on the Bahamas'
competitiveness as a strong,
service-based economy, The
Tribune was told yesterday.
Commenting on a recent
presentation by the Coalition
for Education Reform, which
found that functional illiteracy
was the "overwhelming nation-
al problem", Philip Simon,
Bahamas Chamber of Com-
merce's executive director, said
the Bahamas could lose its
competitive advantage if it did
not have a strong, educated
work force.
"We operate in a service-
based economy, which requires
high levels of interaction with
people from all over the world.
We are living in the most glo-
bilised of times," Mr Simon
added.
He said the Bahamas was
being pushed to its limits, and
if its people were not prepared,
they will be left behind.
Mr Simon added that the
Bahamas needed to get a grip
on its educational problems so
that young Bahamians gradu-
ate high school with at least
the basic skills. He stressed ;
that functional literacy in
today's era had to include com-
puter literacy.
Brian Nutt, president of the
Bahamas Employers Confed-
eration (BECon), told The Tri-
bune that Bahamian business-
es were paying the price for an
inadequately prepared work-
force.
"We are seeing applications
* frpneprsns swho lack the ne-,
y l~~ tssoit's something
Shat is. goingitp have a ~ighe ,


cost, because there is more on-
site training," he added.
Mr Nutt said the Bahamas
has to take a holistic approach
in addressing the education
challenges it faces, and to try
and determine what is the best
approach to solving the prob-
lem.
He added that more princi-
pals and teachers have to
ensure they have control of
their classrooms
Within BECon, Mr Nutt said
they have taken some mea-
sures to assist with training.
These have been in place for
some time, he added.
The Tribune revealed yes-
terday how 80 per cent of grad-
uating students at poorly per-
forming New Providence high
schools failed mathematics in
2006, with more than one-third
also illiterate.
Giving
J Barrie Farrington, giving
the presentation on the Coali-
tion's behalf, said of the con-
sequences of the Bahamian
education crisis: "The over-
whelming and critical national
problem that we address is
functional illiteracy on a large
scale.
"What we are looking at is a
societal failure of immense
consequences. It is a real night-
mare, a horror movie... a dan-
ger hovering over our future.
Not facing this issue merely
causes the problem to grow.
"Whether we like it or not,
our relatively high standard of
living is the direct result of our
success in international tourism
and financial services. Yet we
now appear as a high cost and
inefficient competitor whose
functional illiteracy is a signif-
ican,t economicdrag ,and a
cause..of, icrasing social insta-
,Ai ity,?.,:.^^^^r ,.,.


Long Island landscaping company seeks to
employ a gardener to work in Long Island.
Persons applying should be independently
motivated and willing to relocate. Please apply by
sending a resume along with Police Record to:


LANDSCAPER
P.O. Box N3726
Nassau, The Bahamas.
All applications should arrive on or before
August 17th, 2007.







BRISTOL
WINES & SPIRITS


Bristol Wines & Spirits welcomes
application for the position of:



The successful candidate;
Should have his own vehicle
Should be Computer literate
Should be able to develop analysis
and distribution reports
Should be able to execute the
planed promotion calendar
Should have some experience in
the field of Sales & Marketing

Please contact Arame Strachan to arrange
for an interview today!

341-9300


COMMONWEALTH OF THE BAHAMAS 2007/CLElqYil
IN THE SUPREME COURT
IN THE MATTER of ALL THAT lot of land
containing 4936 square feet situate on the
westemrside of Wrighs Lane and
approximately 530 feet south of WulffRoad in
the southern district of the island of New
Providence.
AND

IN THE MATTER of the QUIETING TITLES ACT 1959

AND
IN THE MATTER OF THE PETITION OF ELVIS COLLETT

NOTICE

ELVIS COLLETT, the Petitioner claims to be the owner in fee simple in

possession of the said piece parcel or lot of land and had made application to the Supreme

Court of the Commonwealth of The Bahamas under Section 3 of Th g Titles

Act,l 1959, to have the said piece parcel of lot of land investigated and the nature and

extent thereof determined and declared in a Certificate of Title to be granted by the Court

in accordance with the provisions of the said Act,

Copies of a diagram or plan showing the position boundaries shape marks and -

dimensions of the said piece parcel or lot of land filed in this matter may be inspected

during normal working office hours at the following places:
1. The Registry of the Supreme Court, Ansbacher House, East Street, Nassau;

2. The office of Arthur D. Hanna & Co., 10 Deveaux Street, Nassau, The

Bahamas, attorneys for the Petitioner; and

3. The Administratorss Office, Kemp-s Bay, Andros, The Bahamas.

NOTICE is hereby given that any such person having drawn a right of dower or an

adverse claim or a claim not recognized in Ihe petition shall within Thirty (30) days after the

appearance of Notice herein filed in the Registry of the Supreme Court in the City of Nassau

aforesaid and serve on the Petitioner or the undersigned a statement of his, her or its 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, her or its claim on or before the

said Thirty (30) days herein will operate as a bar to such claim.

ARTHUR D. HANNA & Co.
Attorneys for the Petitioner
Chambers
10 Deveaux Street
Nassau, Bahamas


BUSINESS






THE TRIBUNE
* K, I II I I , .,.,-


Bahamian


company


wins resort


contract


M ontana Hold-
ings, developers
of the upscale
900-acre Rum
Cay Resort Marina project,
have signed a contract with a
Bahamian heavy equipment
company for excavation and
site preparation.
David Johnson, deputy
director-general of tourism and
liaison for Family Island pro-
jects, said at the contract sign-
ing: "The Ministry of Tourism
has had as one of our primary
goals increasing the benefits to
the local community through
the development of tourism-
related projects.
"This contract signing today
between Montana Holdings,
developers of Rum Cay Resort
Marina in the southern
Bahamas, and Spurtree Truck-
ing & Equipment Services, an
established Bahamian compa-
riy with all Bahamian owner-


ship, is an excellent example
of synergy between investors
and local business."
Established in 1999, Spurtree
has participated in numerous
private and public works pro-
jects, including Lynden Pin-
dling International Airport, Sir
Milo Butler Highway, Tonique
Williams-Darling Highway. It
spent nearly one year in a
major clean-up campaign fol-
lowing Hurricane Floyd.
O'ne of the largest projects
ever undertaken in the Family
Islands, Rum Cay Resort Mari-
na will feature a low-density
village community with marina
condominiums, oceanfront vil-
las, private residences, a beach
club, equestrian centre, tennis
courts and yacht club. Rock
Resorts will manage its condo
hotel, while marina plans call
for environmental safeguards
to qualify it as a Blue Flag
marina.


* THOR IBSEN, chief operat-
ing officer of Montana Hold-
ings, signs a contract with
Sean Bowe (right), the presi-
dent of Spurtree Trucking &
Equipment Services, a Nas-
sau-based heavy equipment
firm, for excavation and site
readiness at the Rum Cay
Resort Marina. The deputy
director-general of tourism,
David Johnson, (standing)
applauded developers for their
commitment to making sure
that Bahamian businesses
benefit from their investment;
(Photo: Tim Aylen)


*,/
*W \,.



Rudolph McSweeney (left) receives his certificate for $2,500 from
Scotiabank's Paradise Island Branch Manager, Rachel Knowles (right).

Mr. McSweeney Saved With Scotiabank And Won



$2,500!

In Scotiabank's "Imagine Life With a Lot More Money," campaign.


Life. Money. Balance both:
* Trademarks of The Bank of Nova Scotia, Trademarks used under authorization and control of The Bank of Nova Scotia. Conditions
apply. Full contest rules and regulations are available in the branch. Please.ask for a brochure.


^^- tC'July lst August 31st, 2007


Bring us your Report Card and show us

your "A' for a free cheeseburger!


I'm lovin' If


Core responsibilities:

* Manage all internal audit processes.
* Manage the staff of the Internal Audit Department.
* Preview systems, policies, practices, and oversee the
controlled implementation of new or changed systems,
policies and procedures.
* Makes decisions that affect organization security and
shareholder value.
* Recommends corrective courses of action by researching
protocols, combining relevant facts, analyzing information,
and determining impact of significant decisions and major
initiatives.
* Assesses and oversees from an audit perspective deployment
of company-wide systems, policies and procedures.

Knowledge, Skills and Abilities:

* CPA or Chartered Accountant license plus a strong
accounting background.
* Five years experience in financial services environment.
* Complete knowledge of auditing, accounting, and risk
management with experience applying skills in an internal
audit position.
* General knowledge in systems organization and design to
consult on appropriate system, policy and process decisions.
* Working knowledge of advanced audit software tools.
* Strong oral and written communication skills, in particular
to convey audit compliance terms and impacts to an
executive/Board level, and to prepare reports and
correspondences.

Benefits include: Competitive salary commensurate with
experience and qualifications; Group Medical (includes dental
and vision) and life insurance; pension scheme.

Interested persons should apply no later than August 17th,
2007 to:
DA 8104C
c/o The Tribune
P.O. Box N-3207
Nassau, Bahamas


PAGE 12B, TUESDAY, JULY 31, 2007


r"7 BUSINESS