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Permanent Link: http://ufdc.ufl.edu/UF00084249/02956
 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: 8/1/2007
 Subjects
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
sobekcm - UF00084249_02956
System ID: UF00084249:02956

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The


Tribune


#1 PAPER IN CIRCULATION



he BAiami ED ralT
BAHAMAS EDITION


WEDNESDAY, AUGUST 1, 2007


ed in cPash


Plane, de,



Three in hospital after

emergency landing


* By PAUL TURNQUEST
Tribune Staff Reporter
THREE men are in hospital
with non life-threatening
injuries after a Piper Aztec
plane had to make an emer-
gency landing near Compass
Point, shortly after take off
from Lynden Pindling Inter-
national Airport yesterday.
Speaking with The Tribune
from the scene of the crash,
Chief Police Superintendent
Hulan Hanna said that the
plane, which is registered to
Le-Air Charter Service, had
been totally destroyed in the
landing. However, he could
not shed much light on what
had prompted the pilot to turn
the airplane around and make
an emergency landing.
All that was known up to


press time was that the White
and Maroon coloured twin-
engine Cessna, registration
C6LEE had left the LPIA at
2.45pm on its way to Gover-
nor's Harbour, Eleuthera.
Mr Hanna: "It is reported
that shortly after take off, per-
sons from Air Traffic
observed that this aircraft had
turned around and they
inquired of the pilot if he had
a problem. It is reported that
he said 'No'.
"Shortly thereafter it was
observed that the plane
crashed into bushes in the area
of Compass Point. Of the per-
sons onboard, there were two
male Caucasians, one is 43,
and the other is 44. It is
reported that they are broth-
SEE page 11


Former local govt councillor
calls for minister to resolve
Dundas Town district situation
N By BRENT DEAN
Tribune Staff Reporter
A FORMER local government councillor in Abaco has declared
that the minister should intervene and resolve the confused situa-
tion in the Dundas Town district before taking action in Hope
Town.
Cay Mills spoke to The Tribune yesterday in an interview, after
forwarding to the newspaper a letter he sent to Local Govern-
ment Minister Sidney Collie, the prime minister, the leader of the
opposition, and the attorney general, dated July 25 of this year.
The letter alleges that in 2005, two members of the Marsh Har-
bour town committee and three from Dundas Town, of which Mr
Mills is included, were not sworn in, nor properly notified of the
SEE page 11







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* THE Piper Aztec plane lies destroyed after the crash landing.
(Photo: Felipi Major/Tribune staff)


Morton Salt pays

out $144,000
in back pay
MORTON Salt has this week paid out
more than $144,000 in back pay for the
years 2005-2007 in accordance with the
industrial agreement it signed with the
Bahamas Industrial, Manufacturers and
Allied Workers Union, a sum that aver-
aged around $1,000 per worker.
This follows payment of an agreed
. signing bonus of $400 per worker the
week before.
Vivian Moultrie, manager of adminis-
trative services for Morton Salt, said
back pay cheques were made available to
the 104 workers on Thursday.
"Everything is going well. We've had
no incidents on the job and everyone
seems to be in a jolly mood as we are
gearing up for the annual Salty Festival
on Emancipation weekend." said Mr
Moultrie.
Mr Moultrie explained that the work-
ers who are still on the job are tying up
SEE page 11


Attorney seeking to have 'Caribbean govts
airport union president jailed are advised to be
for alleged 'contempt of court' cautious in accepting
SBy BRENT DEAN gifts from China
Tribune Staff ". ,,. frO


Reporter
ATTORNEY Fayne
Thompson is preparing
to petition the courts
to have the President
of the Airport Airline
and Allied Workers
Union, Nelerene Hard-
ing, found in contempt
of court and commit- N FAYNE
ted to jail over her THOMPSON
alleged refusal to allow
executives into a union building.
Mr Thompson and union executives
announced this latest development in the
continuing controversy in the union yesterday
at a press conference at the House of Labour.
The court ruling of July 20, Mr Thomp-
son said, prevents Ms Harding from inter-
fering with the functions of executive offi-
cers such as Secretary-general Anthony Bain
and Treasurer Susan Palmer.
These officials claim they have been barred
from union premises after a union cheque
SEE page 11


DR JOHN Rapley, President and research
director of the recently formed Caribbean
Policy Research Institute, has cautioned that
gifts are not free, and recipients often ended
up paying the price.
He advised Caribbean governments to
tread cautiously when accepting gifts from
China, including foreign aid, new stadiums
and new hotels.
Speaking after a presentation on Caribbean
Policy Research Institute (CaPRI) at the
Caribbean Development Bank Conference
Centre last week, Dr Rapley implored region-
al economies to examine the facts when Chi-
na came bearing gifts.
"When China enters trade negotiations,
they try to get the best out of the deal. We
need to approach it with the same mindset,"
he said.
He explained that even though China often
offered Caribbean governments gifts, China
was, in fact, the beneficiary rather than the
country receiving assistance.
Dr Rapley referred to a CaPRI study on
SEE page 11


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THE TRIBUNE


PAGE 2, WEDNESDAY, AUGUST 1, 2007


LOA NW


Woman accused of


stealing from work


qit. -


14


1 THIRTY-four-year-old Dedrie Cox outside court yesterday


A 34-YEAR-OLD woman
pleaded guilty in Magistrate's
Court to stealing more than
$12,000 in government funds.
Dedrie Loneice Cox, of
Arthur's Town, Cat Island,
was arraigned before Magis-
trate Susan Sylvester at court
11 in Nassau Street yester-
day morning, charged with
stealing by reason of employ-
ment.
Court dockets alleged that
the mother-of-two stole
$12,060 from the Arthur's
Town Administrator's office
between Friday, February 9
and Wednesday, June 13 this
year.
Cox admitted to stealing the


hoto: Tim Clarke/Tribune staff)
funds from payments made to
the Administrator's office,
which she had access to by rea-
son of her employment as a
clerk at that office.
The prosecution said that
Cox, who was arrested last
week, used the money for her
personal needs, which includ-
ed repairing the roof on her
home.
Ms Sylvester fined Cox $900
and granted bail in the sum of
$3,500 with one surety.
Additionally, she was
ordered to ,reimburse all of the
government funds she took
and provide the court with
proof of payment when the
case resumes on September 3..


Bank's net income



increases by 25.1%


COMMONWEALTH
Bank yesterday revealed that
its net income for the first six
months in 2007 was up 25.1
per cent over the same peri-
od last year, reaching $22.4
million for the six-month peri-
od ending June 30 compared
to $17.9 million last year.
Earnings per share for the
six month period January 1 to
June 30 were $0.59, an
increase of $0.11 per share
over the same period last year.
Second quarter earnings
were $0.28 per share, while the
annualised return on common
shareholder equity stood at
34.4 per cent.
Total assets stood at $1.1 bil-
lion at June 30 with the bank's
newest branch at Golden
Gates continuing to outper-
form expectations, according
to chairman T B Donaldson.
That performance, a robust
economy and the "dedicated
teamwork of every member of
Commonwealth Bank staff"'
helped drive six-month net


ST B DONALDSON

income to its highest ever,
$22.4 million, and put the bank
on track to top last year's $40.4
million in net income for the
12-month period ending
December 31, 2006.
That was the 10th consecu-
tive year Commonwealth
Bank reported record profits,


and Mr Donaldson said eco-
nomic indicators for the 2007
third quarter look healthy.
"The bank looks forward to
a satisfactory performance in
the third quarter," he added.
Commonwealth Bank's
shares were trading at $14.69
as at June 30, 2007, up from
$12.51 at December 31. In
July, the bank's share price
topped $15 in active BISX
trading.
Mr Donaldson said there
were no immediate plans for a
stock split, but the bank would
"continue to monitor the share
performance". The bank's
shares were first offered to the
public in 2000 at $6, well under
half the current price.
In recent years, shareholders
have earned extraordinary div-
idends paid twice a year in
addition to regular quarterly
dividends. In 2006, the bank
paid more than $22 million in
dividends to its 7,000 share-
holders.


Seminar on Junkanoo


ends summer camp


THREE young men from the
Fancy Dancers junkanoo group
assisted by the group's secre-
tary Katie Minnis conducted a
junkanoo seminar for the 90
boys and girls of the Kemp
Road Urban Renewal Summer
Programme.
Students were given handouts
on the history of junkanoo,
were treated to demonstrations
of junkanoo music and finally
participated in making a
junkanoo hat.
This event, which took place
on Arawak Cay after students
had completed a tour of Fort
Charlotte, sought to further
encourage campers to appreci-
ate their country.
Camp co-ordinator Mrs Kola-
mae Pedican said that it was


* LEARNING how to make junkanoo costumes


important for her and her
team to provide the students
with a fun filled summer pro-
.gramme after a long, hard
academic year of studies and
books.
Katie Minnis, secretary of
the group, said that the young
men were asked to make the
presentation rather than
adults because she felt that
these campers, many of
whom are from the Kemp
Road community, needed to
see their peers engaged in
positive activities.
The Kemp Road Urban
Renewal Project, in conjunc-
tion with Hillside Restoration
Centre Summer Camp which
began on July 16, exposed
students to activities includ-
ing visiting the dolphins at
Dolphin Encounters, learn-
ing about scuba diving at Stu-
art Cove's Dive Bahamas,


and visiting the Royal
Bahamas Defence Force.
The children also enjoyed a
ferry boat ride to the sea gar-
dens, where they saw grey
snappers schooling.
There was also a day at the
movies, which followed an
address by Reno Braynen
"the Bald Eagle" who
entreated them to avoid drugs
and seek role models and
mentors to help keep them
on the right track.
For the girls, a day at the
spa sponsored by John Bul-
l's beauty section.
The organizers thanked
parents for their unwavering
support, as well as members
of the Hillside Restoration
Centre, Pastor Glen Rolle,
Commodore Clifford Scavel-
la of the Defence Force and
the Bahamas Telecommuni-
cations Company.


0 In brief

Two granted.
bail after
marijuana
discovery

TWO of the three men
charged in connection with the
seizure of some $700,000 worth
of marijuana last month were
granted bail yesterday.
Marvin Jones, 38, of Blue
Hills Ridge and Omar Fergu-
son, 25, of Wellington Drive
were each granted bail yester-
day in the sum of $75,000 with:
two sureties. Dwayne Gomez,
26, a Jamaican was denied bail
yesterday. He was remanded to
Her Majesty's Prison.
The three men have been
charged with possession of mar-
ijuana with the intent to sup-
ply, importation of dangerous
drugs and conspiracy to posess
with the intent to supply.
The men were reportedly
apprehended by the Harbour
Patrol Unit of the Royal
Bahamas Defence Force after
marines discovered the drugs
onboard a 22-foot vessel on
Sunday, July 22.
The men, were arraigned on
the charges last week. At that
time Jones and Ferguson plead-
ed not guilty to the charges.
Gomez had pleaded guilty to the
charges, but after hearing the
facts of the case as stated by the
prosecution the court deemed
that his plea was not unequivocal
and changed it to not guilty.

Scientists
track freed
turtles to
save species
* ST. KITTS
Basetierre
SCIENTISTS have released
two hawksbill turtles fitted with
satellite transmitters in hopes
of learning more about their
habitat and breeding practices
to help save the endangered
species, according to Associated
Press.
Ginger and Calypso so
named by local schoolchildren_
paddled into the Caribbean Sea
on Sunday and Monday with
transmitters atop their shells
that will work for up to 18
months. They are part of a
hawksbill tracking and conser-
vation project launched last
year by the Caribbean Conser-
vation Corporation ,and the
Nevis Turtle Group, nonprof-
its that partnered with the Four
Seasons Resort Nevis.
The number of hawksbill tur-
tles have dwindled as Caribbean
residents hunt them for food,
for their shells and even to have
them as pets.
"They play a very strong role
in the ecosystem," said Tara
Macintyre, the local Four Sea-
sons resort spokeswoman.
One of the two turtles
released last year traveled 1,603
miles from Nevis to Nicaragua.
The other, aptly named
"Nevis," stayed in the area.

US warns
Nicaragua
about ties
with Tehran
* NICARAGUA
Managua
THE US ambassador warned
Nicaragua about its increasing-
ly close ties with Iran on Satur-
day, just as President Daniel
Ortega gave tractors built by an
Iranian-Venezuelan company
to poor farmers, according to
Associated Press.
"Iran can be a dangerous
partner," Ambassador Paul
Trivelli told reporters, noting
that the United Nations has
imposed sanctions against Iran
because of its nuclear program.
Trivelli did not refer to the
tractor programme, but noted
increasingly warm ties between
Tehran and Ortega, who trav-
eled to Iran in June to meet
with President Mahmoud
Ahmadinejad.


He softened the warning by
saying those ties "do not affect
the good relations between
Nicaraguans and Americans."
On Saturday, Ortega handed
out tractors and other agricul-
tural equipment to farm coop-
eratives in northern Nicaragua.
The tractors were made in
Venezuela by a company 51 per
cent owned by Iranian investors
and were delivered to
Nicaragua under Venezuelan
President Hugo Chavez's Boli-
varian Alternative for the
Americas, which provides ener-
gy and aid on favorable terms
mainly to leftist governments.


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liaising with clients to determine needs and resolve issues,
providing answers and communication wherever
necessary.
* Perform maintenance and records management on existing
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issues.
* Perform constant follow up on high risk/impaired accounts
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c/o The Tribune
P.O. Box N-3207
Nassau, Bahamas


* SHARING junkanoo skills


-- I









THE TRIBUNE


WEDNESDAY, AUGUST 1, 2007, PAGE 3


LOA NW


0 In brief

Children

believed

to have

started fire


Proposed movies project





millions for film industry


GRAND BAHAMA Two
children playing with matches
are believed to be responsible
for a blaze that caused $25,000
damage to a home at Dead-
man's Reef on Saturday.
The fire was phoned in to the
police dispatch centre shortly
before 4pm, and initial reports
indicated that two children were
trapped inside.
Two fire units raced to that
location, where officers found
a 12-room single-storey dwelling
house on Patricia Street, in the
Grand Bahama East, Section C
subdivision, on fire.
This blaze, which was con-
fined to a southern bedroom,
was quickly extinguished.
A thorough search of the
building revealed that there was
no one inside.
About $25,000 worth of dam-
age was done to the bedroom
and its contents. The home is
owned and occupied by Eliza-
beth Pinder and her family.
Preliminary investigations
into the incident have revealed
that the blaze was started by
one of Ms Pinder's daughters
playing with matches in the bed-
room.

Chavez says
former oil chiefs
favoured
foreign firms
VENEZUELA
Caracas

PRESIDENT Hugo Chavez
on Sunday accused former
Venezuelan officials of allow-
ing foreign oil companies "to
rob" Venezuela's immense
petroleum wealth, saying they
should be charged with crimes,
according to Associated Press.
Former executives at state-
run oil company Petroleos de
Venezuela, or PDVSA, permit-
ted international companies to
blatantly violate contracts by
Extracting billions of barrels of
light, sweet oil without investing
in technology required to pro-
duce heavy crude, Chavez said.
"The transnational compa-
qies did not comply with the
agreements," Chavez said on
his weekly radio and television
programme. "They never
invested in technology so they
wouldn't have to spend mon-
ey."
Chavez Irequently complains
of widespread government graft
and corruption during a period
popularly referred to as the
Fourth Republic the four
decades from the fall of
Venezuela's last dictator in 1958
through Chavez's first election
in 1998.
"Those who signed and
approved those agreements dur-
ing the Fourth Republic, yio-
S lating the constitution and the
laws, should go to trial," said
Chavez, urging prosecutors to
investigate former officials.
Chavez's government took
majority control of Venezuela's
last privately run oil projects on
May 1, giving foreign oil com-
panies the option of accepting
less profitable terms or stop
pumping petroleum.


of things we
think, say or do

1. Is it the TRUTH?
2.Is it FAIR to all
concerned?
3. Will it build
GOODWILL and
BETTER
FRIENDSHIPS?
4. Will it be
BENEFICIAL to
all concerned?
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Fetlzr Fniie

Pet onro


* By KARIN HERIG
Tribune Staff Reporter

MILLIONS of dollars could
be injected into the economy
as the Bahamas has once again
been chosen as the shooting
location for upcoming block-
buster movies.
Even as the fate of the
Bahamas Film Studios remains
uncertain a situation which
is said to undermine the coun-
try's viability as a preferred
shooting location movie pro-
duction companies are moving
into the Family Islands to
shoot their films.
Upcoming movies like
Fool's Gold, starring Matthew
McConaughey, Kate Hudson
and Donald Sutherland and
the Italian flick Matrimonial
Alle Bahamas, expected to
released sometime in 2008, is
the first big studio production
to film in the Bahamas early
last year.
The production companies
of the two movies have already
used locations such as the Aba-
cos, the Exumas and Bimini to


* DONALD Sul

set their scenes.
The Bahamas h
few,years regain
nence as a prem
location after su(
hits as Disney's I
Caribbean II and
21st James Bonc
Casino Royale
here.


Combined, the two movies
brought the Bahamian econo-
nmy some $51 million.
A recent edition of the high
profile magazine Hollywood
Reporter praised the Bahamas'
film production prowess.
The article said that film
production in the Bahamas has
been a positive experience for
many of the companies
involved and lauded the co-
,operation offered by Bahami-
an police, customs officials, and
'//, the country's film commission.
However, observers have
pointed out that the continuing
uncertainty surrounding the
Bahamas Film Studios could
therland be a hindrance in attracting
(AP Photo) more big budget productions.
The Tribune reported last
month that both New Line
ias in the past. Cinemas and Warner Broth-
ed its promi- ers are eyeing the Bahamas as
nier shooting a production site..
ch box office However, it is understood
Pirates of the that studios such as Disney will
d II1, and the not film in the Bahamas as
d installment along as the Bahamas Film
were filmed Studios is owned by Ross
Fuller.


Mr Fuller, a Atlanta and
Nashville-based banker,
claimed that Disney still owed
him $1 million for the filming
of the Pirates of the Caribbean
movies.
Relations between the two
parties were severely damaged.
According to the latest infor-
mation, however, Bahamas
FilmInvest International a
group headed Owen Bethel,
president of a Nassau-based
financial services provider is
preparing to resume talks with
Mr Fuller to purchase the
Bahamas Film Studios.
Commissioner of the
Bahamas Film and Television
Commission Craig Woods
explained in a press statement


that the Bahamas appeals to
movie producers because it
offers a variety of location
options to satisfy the most chal-
lenging film projects, "from
steamy jungles, to mangrove
swamps, to great gingerbread
houses and tantalising Victorian
and Georgian Architecture."
"The Bahamas is a film-
friendly location with trained
Bahamian crew who have
worked on both large scale stu-
dio films as well as small inde-
pendent productions. With the
closest island, Bimini, only 50
miles from South Florida, or
two hours by fast boat, the
Bahamas provide the 'hot' look
motion picture productions
want," he said.


* MINISTER of Agriculture and Marine Resources Larry Cartwright speaks at the
Department of Agriculture and the University of Florida's Greenhouse Technology workshop
on Monday at the British Colonial Hilton Hotel. Director of Agriculture Simeon Pinder is J
pictured at front left. e" 16al
(Photo: BISTim Aylen) Established in 1956 by an old Bahamian family
Parliament Street (near Bay St.) Tel: 322-8393 or 328-7157
Farmers learn how to grow *Fax:326-9953
Crystal Court at Atlantis, Paradise Island Tel: 363-4161/2
-- Harbour Green Shops at Lyford Cay
theIr cr ops in greenhouses (next to Lyford Cay Real Estate) Tel: 362-5235
i r cp i g rlus e-mail: www.colesofnassau.com. P.O. Box N-121


THE Ministry of Agriculture
and Marine Resources is part-
nering with the University of
Florida to offer a basic course
in greenhouse management.
The one-week course is intro-
ducing farmers, educators and
ministry staff to ways of creating
successful and profitable busi-
nesses growing plants through
greenhouse technology.
Dr Kimberly Moore, associ-
ate professor at the University
of Florida, is the facilitator of
the course, which opened on
Monday at the British Colo-
nial Hilton.
He said the course is also
intended to make the Bahamas
become more self-sufficient so
that it can stop depending
totally on imported goods from


the United States.
Minister of Agriculture and
Marine Resources Larry
Cartwright said that "precision
agriculture, and intensive spe-
cialised production" offer small
growers an opportunity to pro-
duce special products of high
quality.
He said such products are in
high demand by both residents
and the tourism industry.
"The terms 'precision' and
specialisedd' implies that spe-
cialised training management is
required to ensure success.
This workshop is one of many
that will be offered to staff, in
the first instance, and selected
growers to raise awareness and
develop capability in manage-
ment of nurseries and the


greenhouse environment," Mr
Cartwright said.
"Success in this workshop
and others to follow," he
added, "will permit the wider
dissemination of this capabili-
ty to our Bahamian people."
Director of agriculture Sime-
on Pinder advised participat-
ing farmers from the Family
Islands not to return to their
islands with unanswered ques-
tions, and to take what they
have learned and pass it on to
other cultivators.
The course focuses on chal-
lenges to growing different
crops on the islands, forming
an action plan for the growing
of crops, completing market
analysis, and estimating plant
material requirements.


Building hope for David


Holowesko Foundation urges more support for
Young Bahamian with no eyes


He is a beautiful three year
old boy and his mom
knows only too well how
energetic and playful he
can be. He was blessed to
be born to very devoted
parents-Mr and Mrs
David Smith of Long Is-
land-and he is showered
with their- love daily.
Named after his dad, young
David was the Smith's first
child. His birth was joy-
fully anticipated. But im-
mediately after he was
born, David was diagnosed
with Bilateral Anophthal-
mia- the absence of both
eyes. His parents' joy was
replaced with shock, fear
and the enormity of the
challenge before them-
and before David as well.
Yet at the end of each de-
manding day since David's
birth his parents' love
stands strong and the
Smiths have become deter-
mined to provide David
with all that he needs.

The medical and financial
extent of what David re-
quires is as extraordinary as
his condition. He is a regu-
lar patient at the renowned
Bascom Palmer Eye Insti-
tute and the International
Ocular Center, both in
South Florida. While the
journey ahead of him is
long, it holds much promise


if the Smiths can simply
keep up with it all. David's
facial bone structure would
normally be shaped by the
presence of his eyes in their
sockets. Instead, David re-
quires 'implants every year
to prevent skeletal deform-
ity. David also needs infant
stimulation, speech and
mobility therapy and his
neurologists have urged the
Smiths to put David in an
intensive, formal program
where he can receive all the
special attention he needs.
The costs of David's on-
going care is staggering.
Showing the depth of their
love, as well as an impres-
sive display of grit and de-
termination, the Smiths
have become self-taught
fund-raisers. "We do all we
can to help David reach his
true potential," says his
mother.

The Holowesko Foundation
is pleased to be able to con-
tribute $3000 to David's
medical expenses for 2007
and has pledged to assist
with expenses in 2008. If
you are interested in help-
ing as well please email
David's mother, Barsha, at
ahsrab@hotmail.com or
call the Smiths at 242-338-
6022. With wide-spread
support we can build a
promising future for David!


" '"


))))))))))))))))))))))))))))))))))))))))







PAGE 4, WEDNESDAY, AUGUST 1, 2007


THE TRIBUNE


EITO6-'LTTES T6TH3EDTO


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
Freeport fax: (242) 352-9348


Is our education system a mockery?


THE TRIBUNE reported on Monday that
the Bahamas is facing a social failure of
"immense consequences," placing living stan-
dards and the economy in peril because of the
crisis in the nation's educational system.
The report was based on conclusions drawn
by the Coalition for Education Reform, an
employer-union sponsored group dedicated to
reforming the Bahamas' educational system.
The Coalition said the nation had to act urgent-
ly to end "the horror movie" that the schools
had become.
The Coalition pointed out that 80 per cent of
graduating students at poorly performing New
Providence high schools failed mathematics in
2006 with more than one-third also illiterate.
In response Education Minister Carl Bethel
said that government intends to "aggressively"
attack the "vexing and persistent" problems
facing the country's educational system.
However, referring to the Coalition's report
about "functionally illiterate" students, Mr
Bethel claimed that 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 ques-
tion of whether the mass of students reach their
commercial expectations rather than whether
they meet the expectations of teachers in terms
of being able. to deal with basic skills so
there is something of a disconnect between the
two."
An experienced educator was quick to take
Mr Bethel to task on this statement. (See page
7).
He wanted to know the purpose of educat-
ing students if they were not being prepared to
function in the commercial sector. And, he
quite rightly said, if the commercial sector says
that students are "functionally illiterate, and
Mr Bethel is saying that the students are meet-
ing the teachers expectations, then he's saying
the teachers' expectations are very low, because
we're passing out dumb students and the teach-
ers seem to be satisfied with that ... and that
won't cut it."
We agree with the educator. Education is to
prepare a student to live in the world to
qualify for employment, to provide for him-
self and his family and to function successfully.
No business person is going to employ a
"functionally illiterate" young person, no mat-
ter what certificate he produces to prove that he
took up space in a classroom. Teachers don't
hire students, but the business people, who
produced this chilling report, do. If they say
that the schools are producing persons they


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cannot employ, then this country is in trouble.
Bahamians complain when foreigners have
to be employed to fill vacancies that their chil-
dren have not qualified themselves to fill. What
is a businessman to do when a Bahamian does
not qualify? Surely he is not expected to close
his business. What decision is a government to
make when work permits are needed to keep
the economy buoyant? Surely, government
cannot torpedo the economy and jeopardise
the whole country by denying necessary work
permits just because Bahamian students are
allowed to keep their heads low and slip
through the system with only an attendance
certificate to show for the money the country
has expended on their education.
"Social promotion destroys discipline and
cripples the learning process," says the Coali-
tion report. It does more than that. It turns
out students with expectations that they should
be rewarded for minimum exertion. One would
be surprised to know the number of young
people who get a reality check when they dis-
cover that they have to work hard for a fair
wage.
These are the ones who are disruptive in
the work place, because all their lives they have
been rewarded for minimum, or no effort. Sud-
denly, they discover that they are being shown
the door, instead of a lavish prom ballroom, for
non-performance.
Social promotion in the classroom is a'
destructive menace. A student should be made
to occupy the same bench in the same class-
room until the day he qualifies to move up to
the next grade.
If he is incapable of meeting the classroom
grades, then he should be examined for other
natural aptitudes. He should be considered for
a trade school, something anything that
will help him to function in the commercial
world and keep him off the walls, and out of the
underworld of crime.
Our young should learn early that there are
no rewards without effort. And parents should
not berate teachers who refuse to give grades
that have not been earned. There should be
no graduation or proms for anyone who does-
n't make the grade. To dress up in cap and
gown to collect a certificate that just confirms
that a student attended classes for the allotted
number of years, makes a mockery of educa-
tion.
Many of these, lacking in discipline, will end
up on the court blotter and become a menace
for police and society. Meanwhile employers,
desperate for staff, will be forced to look
beyond our borders to draw from the world's
employment pool.


EDITOR, The Tribune.
IT SADDENED me to see Abi-
gail Cartwright's letter Tuesday, July
24, 2007 under the headline "For-
ward, Upward or Backwards?" It
saddened me that such absurdities as
found in her last three paragraphs
are being put forth, because they
whip up racism in this country. I do
not think Ms Cartwright intends to
be racist, but unfortunately, many
of the things she put forth in her let-
ter were simply that. And the ones to
which I am referring to here are
totally and completely untrue. By
saying this I am not accusing Ms
Cartwright of lying, I think she put
forth some things she misguidedly
thought were true. And that is what
most saddens me, that someone
would think they are true.
Ms Cartwright is correct that there
was a time in this country, and in
many others, where black people
(people of a 'hue' as she termed it)
were treated disparagingly and not
afforded the liberties and rights that
they as humans deserved. Fortu-
nately, there have been great
amounts of work done by people of
all skin tones to change these atti-
tudes in our Bahamas and in other
countries, and this work contin-
ues. Unfortunately, Ms Cartwright's
further words do not reflect a change
in attitude.
She points a rather accusing finger
at "white Bahamians" (quotation
marks hers) saying that white
Bahamians were not present at the
Independence Ecumenical Service
on July 8, 2007 held in the Kendal
Isaacs Gymnasium, except for
Deputy Prime Minister Brent
Symonette, and I quote: "however,
his wife was not present. On the con-
trast, the Prime Minister brought his
wife and other family members as
did other Cabinet Ministers. "'I would
like to first say that I know Robin
Symonette personally and there is
not a kinder, more caring, less racist
person on this island. To try to paint
her in any other light, which Ms
Cartwright's comments appear to,
is simply trying to implicate Mrs
Symonette unfairly in a terrible and
grossly incorrect way. Her absence
was neither sinister nor uncaring.
No, Ms Cartwright did not come out
and say: 'Mrs Symonette was not
there because as a white person she
didn't want to be' (or similar) but
that is the unstated implication by
her wording and by what she specif-
ically said in her follow on para-
graph.
This practice, of quite pointedly
inferring something, virtually always
something very negative which is
also not true, is the same thing as
outright lying. It is a nauseating prac-
tice, way too prevalent in this coun-
try, which has to stop if we are ever
going to have a country that goes
forward and upwards.
In that follow on paragraph Ms
Cartwright says: "The inclination of
thought is that the 'white Bahamians'
would not have any other affiliation


NOTICE

NOTICE is hereby given that MARILYN FAGAN OF 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 25TH day of JULY, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box
N- 7147, Nassau, Bahamas.





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2007. Our new office will be located
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Fax: 242-394-4492


Remember also to visit our website
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with this country, the Bahamas other
than for the economic gains that they
have achieved and continue to
achieve at the expense of the black
citizenry, and their clever prospect of
attaining the leadership of this coun-
try once again." This is 1000 per cent
wrong and it is even more wrong to
be publicly saying such abhorrent
absurdities.
Ms Cartwright, one reason you
didn't see many, or any in your eyes,
white Bahamians is because attitudes
such as those you presented make it
clear that, by many, we are not wel-
come. In fact, white Bahamians are
frequently met with venom simply
because we are white. And no, turn-
about is not fair play. Two wrongs do
not make a right. We love this coun-
try dearly. For any Bahamian to
insinuate, or worse out right tell,
another Bahamian, that they are not
"real" Bahamians because of their
skin colour is unspeakably shame-
ful. But most white Bahamians will
tell you that they have been told that
at one time or another. Thankfully,
that "opinion" is not held by most
Bahamians. It should not be held by
any.
The attitudes of racial exclusion
that were prevalent in days gone past
are firmly believed to be wrong by
white Bahamians today. Some of us,
like myself, have no slave holders in
our ancestry at all, others do. That is
a fact that cannot be changed. But
we can change. And white Bahami-
ans have worked to change. Every
white Bahamian of my generation
that I know has done as my husband
and I have, we have raised our chil-
dren to know that racial prejudice
and bigotry of all kinds is WRONG!
My husband and I have raised a
son who is totally and completely
colorblindn" when it comes to race.
All of his cousins have been raised
the same way, as have all of his
white, and all of his black, yellow
and brown friends. Ms Cartwright
we are working towards One
Bahamas, are you?
For some reason, there are those
who seem to feel blatant racism
towards white Bahamians isn't real-
ly racism: as when the Bahamian son
of a'friend, having recently graduat-
ed from college with a financial
degree, was called for a job inter-
view at a bank here, and upon enter-
ing and giving his very Bahamian
name, was handed back his resume
with the comment: "We didn't
realise you were white, we don't hire
white Bahamians". The person who
said this did not really intend to be
racist, she said it matter-of-factly,
and did not even realise that it was
racist. Or the young daughter of a
white friend, in tears on her birthday
as was her black best friend, because
her friend's mother said she was not
allowed to go to a party at a "white
person's house". Both girls were dev-
astated. I have heard this black
mother decry racism, but exactly
what was she teaching her daughter
by not letting her go to a Saturday
afternoon birthday party because it
was at a "white person's house"? Or
when, as happened on the day Ms
Cartwright mentions, July 8, 2007,
while at a beach a group of 10 white
Bahamians and one American guest
were flooded by a jet ski that swung
in, to within 10 feet of us pushing a
large amount of water at us, includ-


ing at a small child. When politely
asked to move further out, this
"black Bahamian" proceeded to tell
us that he was Bahamian, it was his
country and he was within his rights
to do what he had done. When told,
"we're Bahamian too", he not so
politely told us that The Bahamas
was a black country and belonged
to black people, not us.
None of the above should have
happened no matter who was what
skin colour. Racism directed at any
race by another is racism and is
wrong. While most Bahamians do
not, too many Bahamians have
heard wrong and racially inciting
opinions, such as put forth in your
letter, and believed them; used them
to cradle their hatred. Nothing will
push this country backwards faster.
As for Ms Cartwright's assertion
that "It is no secret that this minori-
ty 'white' class is slowly and dis-
creetly planning their resurgence
again," this is the most absurd of all
her statements.
Yes, most white Bahamians sup-
port the FNM, as Ms Cartwright
points out. Neither party is perfect,
but the FNM has shown it promotes
Democracy, and denounces racism
and prejudice in all forms. The
record of the PLP is one, unfortu-
nately, of spouting racial hatred and
politically divisive untruths in hopes
of gaining support and votes based
on unfounded fear. That most white
Bahamians support the FNM is not,
I repeat not, to gain control as a rul-
ing race (have you not noticed the
great majority of FNM's are black?),
it is in great part to eliminate race as
a political factor in our beloved coun-
try; to eliminate race as a control-
ling factor at all in our country. What
we desperately need is two major
parties who both work for the good
of all Bahamians, and who never,
ever utter anything to incite the peo-
ple in a racist or other harmful and
divisive way. Now that would take us
very, very far forward.
Here is the truth Ms Cartwright:
White Bahamians along with many,
many Bahamians of all 'hues' and
colours, realise that for our beloved
Bahamas to move forward, upward
and not backwards, we must all work
together. We cannot exclude citi-
zens from the government and busi-
ness of our country because of their
skin. We must not promote, in any
way, whether purposely or inadver-
tently, the monster racism and the
spiteful hatred that divisiveness
instills.
If we as parents, teachers ,and
guardianis instil in our children by
our words and by our actions -
that all racism, and all prejudices,
and all mean-spirited divisiveness is
wrong, then with each succeeding
generation everything will be bet-
ter, for everyone. Isn't that what we
all really want, to leave our children
better off than we have been? If we
keep batting back and forth at each
other we will not stand a chance of
ever lessening this horrid behaviour,
much less wiping it out. We could
be the shining example to the world.
We actually have the potential, more
than most countries, to overcome
this. Our little country could do that.
But EVERYONE must do what
they can to stop this shameful, divi-
sive behaviour and attitudes. It is
wrong. It is wrong no matter who
does it. And it is always wrong. Peri-
od.
J HIGGS
Nassau,
July 27,2007.


Responding to comments

by Obie Wilchcombe
EDITOR, The Tribune.
IT IS 1pm, July 30, 2007 and I have just found the time to read Sat-
urday, July 28th Tribune, and again I am amused.
Obie Wilchcombe (and, yes, Obie we are friends) is complaining about
Democracy and Freedom of Speech being threatened.
1.) Obie, where were you from January 2007 until May 2,2007? Were
you asleep while Steve McKinney cut off every single person who dared
to say anything on ZNS good about the FNM or bad about the PLP?
2.) Where were you when Fred and others wanted to shut down The
Tribune because they dared to tell the truth about some of your col-
leagues who needed to be exposed for what they were doing ?
Obie, I know you have aspirations of one day leading the PLP and
maybe going further, but, my friend, you have to be seen by the Public
of this country to be honest and genuine if you want to realise any of
these ambitions. You cannot accept wrong when it suits your purpose and
then complain when the shoe is on the other foot. (What goes around,
comes around).
We now have an educated Public who can see for themselves what is
right and what is wrong and they have very good memories so they will
not be fooled by soothsayers unless they are honest ones.
I also listened to Love 97 on Thursday night as I was going from one
destination to another, and if I did not know any better I would have
thought Election 2007 was two or three days away.
The People have spoken and their wishes should be accepted grace-
fully. let's get on with doing what is best for all Bahamians.

ABNER PINDER
Spanish Wells,
September 31,2007


We cannot exclude




citizens from business




or the government




because of skin colour








THETRIBUNEWEDESDAYAUGUSTL2007LPAGES


OIn brief

Six killed
in Barbados
traffic
accident
* BARBADOS
Bridgetown
A BUS carrying spectators
to a calypso competition
slammed into a wall and
plunged into a river, killing
six people, police said,
according to Associated
Press. '
Survivors said panic spread
among the 43 people on the
bus Sunday as the driver dis-
covered that his brakes had
failed and tried shifting gears
to slow down.
It was the worst traffic acci-
dent in Barbados since a 1945
crash in St Peter parish that
killed 30.
The victims three women
and three men, including the
driver ranged in age from
31 to 45. At least 10 were
hospitalized in critical condi-
tidn.
The rented, 40-seat bus
plunged into Joe's River in
the eastern parish of St
Joseph near midday as it
travelled to the music com-
petition that is part of the
island's annual Crop Over
Festival.
The accident was "a
tragedy of enormous propor-
tions for all Barbadians," said
Attorney General Dale Mar-
shall, who also represents St
Joseph in Parliament.
Police Commissioner Dar-
win Dottin said authorities
have opened "a big investi-
gation" with a forensic crew
and accident reconstruction
team.

Police probe
shooting of
governor's
assistant
US VIRGIN ISLANDS
Charlotte Amalie
POLICE on Monday said
they were investigating the
,fatal shooting of Gov John
DeJongh's special assistant,
whose body was found in a
car trunk over the weekend,
according to Associated Press.
Alvin Morton, 59, who was
shot several times, was found
Saturday inside a car parked
near a popular St Thomas
beach. Authorities have not
determined a motive and do
not know who owned the car,
but were investigating leads,
said Rodney Querrard, the
St Thomas-St John district
police chief.
Morton's death comes
almost a week after the rob-
bery and fatal shooting of
Trevor Joseph, 60, a retired
Virgin Islands national
guardsman. Police are inves-
tigating his death, which they
say occurred after Joseph
repaired a hotel's automat-
ed teller machine.



1R 1PICA


Minister denies meeting with




residents over immigration


* NEKO Grant


* By TANEKA THOMPSON
MINISTER of Tourism and
Aviation Neko Grant vehe-
mently denies reported claims
that he was involved in a "pri-
vate meeting" with a few Har-
bour Island residents over the
weekend which sources say
addressed, among other things,
the growing illegal immigrant
problem on the island.
The Tribune yesterday
reported claims by sources on
the island that Mr Grant as well
another MP visited the island
over the weekend, where it is
alleged the issue of the rampant
number of illegal immigrants
on the island was brought up.
Speaking to The Tribune on
-Tuesday, Mr Grant confirmed
that he had been on the island,
but said that his time was spent
touring the small island, meet-
ing with straw vendors and min-


istry staff and nothing else.
Concerned citizens on the
island continue to insist howev-
er that during Mr Grant's visit,
he, with members of his team
present, had a meeting with
around four Brilanders.
Towards the end of the meet-
ing, a few angry residents
brought up the issue of the ille-
gal immigrant problem, the
sources say.
"He came for the airport avi-
ation new project," one source
told The Tribune. "But he also
listened to the concerns [over]
the illegal immigrants. We told
him that ain't nobody listening
to us."
While according to sources,
the alleged meeting had a
favourable ending, a local resi-
dent says that the island is "in
an uproar again" as tensions in
the small community continue
to reach new heights. Another


demonstration on the island is
scheduled for Thursday.
On Tuesday, Mr Grant
denied the reports of an immi-
gration meeting: "I can give an
account from the time I have
landed on Harbour Island until
the time I left. At no time, at
no time, did I ever mention any-
thing, to anybody as it relates
to illegal immigrants," Mr
Grant said.
"Every minute of my time
was accounted for in the pres-
ence of my permanent., secre-
tary, my acting director, and
with my [other] employees
there," he added.
When asked what was the
nature of his trip to Harbour
Island, Minister Grant replied, "I
was touring the island to make
way for the Ministry of Tourism
staff there, and to look at possible
points of interest to be included in
tours that we are developing."


Bahamas needs


more culture to


show the world,


claims activist


* By TANEKA THOMPSON
BAHAMIAN people should
focus on the development and
enrichment of the nation's her-
itage as the country has "pre-
cious little to showcase to the
world" a local cultural activist
said on Tuesday.
This statement came as con-
troversy swirls over the govern-
ment's announcement that the
Caribbean cultural festival, Car-
ifesta, which the Bahamas was
slated to host next year, will not
be held here until 2012.
This decision was made,
according to Minister of State
for Culture Charles Maynard,
because of the lack of prepara-
tion by the former government.
Edmund Moxey, a musician,
historian, teacher and cultural
activist, released a statement on
yesterday voicing his concerns
over the uproar.
Instead of casting blame on
various heads of government
for the postponement of 'Car-
ifesta', focus needs to be aimed
on the development of the
nation's heritage, Mr Moxey
said.
"Our mission at this time, must
be a mission to cultivate our Her-
itage Culture of the Arts," he
wrote. "A mission that will usher
'in an atmosphere of cultural lib-
eration of our people.


"While it is true that we lack
the proper facilities for hosting
a festivals the magnitude of Car-
ifesta, more importantly is the
fact that our heritage culture
suffers from acute malnutrition
and from a cultural perspective,
it is safe to say that, apart from
junkanoo, we have precious lit-
tle to showcase to the world."
Mr Moxey said.
He noted that a nation is only
"as strong as its cultural ties"
adding if that is the case, then
the Bahamas is a "very weak
nation indeed."
"Over the years we became
careless with our heritage,
allowing many sub-cultures to
take root in our society. We are
now paying a heavy price for
our shortsightedness ... The
way forward must be the devel-
opment of a dynamic cultural
programme for immediate
implementation throughout our
nation."
Mr Moxey also stated that he
felt it was the right decision for
Carifesta to be relegated to the
"backstage".
Last week, The Tribune
reported that members of the
opposition called the postpone-
ment of the festival an interna-
tional "embarrassment" and
was due to a lack of political
will to see the event through in
the time provided.


The Mall at Marathon is looking for a Housekeeping/Maintenance Supervisor.
This is a challenging position for a hardworking hands-on person.

General Description:
Daily management of approximately 16-20 employees including hiring, training,
scheduling, evaluating, disciplining and overseeing work production. Perform
routine housekeeping tasks including but not limited to floor machine use and
maintenance, stripping and buffing floors, vacuuming, cleaning of restrooms, offices, Food Court,
trash cans and windows.

Other Duties:
Assisting with purchasing.
Maintain inventory of supplies, tools and equipment
Organizing work schedules
Carrying out other assigned duties as needed and requested by Management.

Skills:
Hardworking and Positive attitude
Experience with operating and maintaining various cleaning equipment machines
Experience in similar position with supervisory experience.
Consistent high level of achievement.
Experience with various industrial cleaning solutions and how to use them
Related Mechanical Skills Helpful.

Salary commensurate with experience and accomplishments.
Apply at The Mall At Marathon's Management Offices-No Phone Calls Please.


* THE Bahamas holding of Carifesta has been delayed until 2012, with officials saying it would not
be possible to to complete the necessary facelift to Arawak Cay in time for the festival. 1,- i I,,
(Photo: Felipi Major/Tribuns' Staff)



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life insurance; pension scheme.

Interested persons should apply no later than August 17th, 2007 to:
DA 8128
c/o The Tribune
P.O. Box N-3207
Nassau, Bahamas


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WEDNESDAY, AUGUST 1, 2007, PAGE 5


THE TRIBUNE









PG6. WENSDY AUUT1 07.H RBN


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
theWIddO'has-made applicationrto.the Supreme Court
of l'te 'Bharnas; for letter 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/00346 *
IN THE ESTATE OF C. PEARCE COADY (a.k.a.)
CHARLES PEARCE COADY III, late of 18434
Hermitage Road, Onancock in the State of Virginia,
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 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.
Nicoyo Neilly
(for) Registrar


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

No. 2007/PRO/NPR/00347

Whereas MARY E. JONES of Mars City in the Count
of Madison in the State of North Carolina, one of the
States of the United States of America has made
application to the Supreme Court of The Bahamas,
for letters of administration of the Real and Personal
Estate of OWEN 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.

Nicoyo Neilly
(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 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 PADDY COLYN LEWIS
late 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/00351

Whereas BERYL ANDREA WILLIAMS of 8 Benson
Road, Danottage Estates Eastern District, New
Providence, and SIDNEY ALEXANDER CAMBRIDGE,
JR., of No. 9 Chancery Lane, Winton Estates, Eastern
District, New Providence, both of the Islands of the
Commonwealth of The Bahamas, Attorneys by Deed
of Power of Attorney for the Daughter has made
application to the Supreme Court of The Bahamas,
for letters of administration of the Real and Personal
Estate of HARRY WOODROW COOPER late of the
Eastern Road, 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


PROBATE DIVISION
AUGUST 2ND, 2007

2007/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 Pennpylvania, 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 Neilly
(for) REGISTRAR


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

No. 2007/PRO/NPR/00352

Whereas TROY ALFRED GRAY of Williams Town,
Exuma, one of the Islands of the Commonwealth of
The Bahamas, the Widower has made application to
the Supreme Court of The Bahamas, for letters of
administration of the Real and Personal Estate of
RENAMAE GRAY late of Williams Town, Exuma, one
of the Islands of the Commonwealth of The Bahamas,
deceased.

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
THE SUPREME COURT
PROBATE DIVISION
AUGUST 2ND, 2007

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,
for 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
from the date hereof.
Desiree Robinson
(for) Registrar

PROBATE DIVISION
AUGUST 2ND, 2007

2007/PRO/NPR/00354
In 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 will 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


PROBATE DIVISION
AUGUST 2ND, 2007

2007/PRO/NPR/00355

IN THE ESTATE OF LOUISE ROBERTS SATTLER,
late of 629 Neptune Avenue in Ocean County in
Beachwood in the State of New Jersey, 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 MICHAEL CRAIG ROBERTS of
the Eastern District of the Island of New Providence,
one of the Islands of the Commonwealth of The
Bahamas, Attorney-At-Law, the Authorized Attorney
in The Bahamas for obtaining the Resealed Letters
Testamentary in the above estate granted to STEVEN
R. SATTLER, the Executor of the Estate, by the State
of New Jersey, Ocean County Surrogate's Court, on
the 8th day of June 2001.
Nicoyo Neilly
(for) REGISTRAR


THE TRIBUNE


PAGE 6, WEDNESDAY, AUGUST 1, 2007











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


Teacher questions




Bethel's comments on




illiteracy in Bahamas


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 City of N. Miami
Beach in the State of Florida, 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/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


* By ALISON LOWE
Tribune Staff Reporter
AN experienced educator has
called upon Minister of Educa-
tion Carl Bethel to "re-evalu-
ate" statements he made in
response to a recent education
focus group's report which stat-
ed that this country is facing the
problem of "functional illitera-
cy on a large scale."
On Monday, when ques-
tioned about his thoughts on
the report by the Coalition for
Education Reform a group
whose members consist of
employers and trade unionists
- which stated, based on vari-
ous analyses, that the country
is facing social failure of
"immense consequences" due
to the fact that the education
s. ;tem continues to turn out
"functionally illiterate" individ-
uals, Mr Bethel responded in
part that perhaps there is a "dis-
connect" between the expecta-
tions of the commercial sector
and those of teachers.
"Let us say that the question
of what the business sector
would call 'functional illitera-
cy' is a question of whether the
mass of students reach their
commercial expectations rather
than whether they meet the
expectations of teachers in
terms of being able to deal with
basic skills so there's some-
thing of a disconnect between
the two," he said.
The educator questioned


* CARL Bethel said there was a 'disconnect' between the
expectations of teachers and those of employers


what Mr Bethel said when he
spoke of "the question" of func-
tional illiteracy.
"What does he mean by the
question of what they'd call
functional illiteracy?
"My problem with that state-
ment is what is the purpose of
educating the student popula-


tion if not to prepare them for
the commercial sector?
"If the commercial sector's
saying the kids are functionally
illiterate, and he's saying that
the students are meeting the
teachers expectations then he's
saying the teachers expectations
are very low --- because we're


passing out dumb students and
the teachers seem to be satis-
fied with that...and that won't
cut it," said the educator.

Training

The educator said he is con-
cerned by the lack of qualifica-
tions that some teachers who
go on to teach core subjects
have.
"What you see now is a lot
of teachers come through these
programmes at COB they
take a couple of classes in one
thing, a couple of classes in
math they aren't proficient in
those things but as long as
they've got their certificate
they're allowed to teach," he
said.
By having a teaching certifi-
cate granted through the
Department of Education,
teachers are allowed to go on
to educate children in subjects
that they do not have even a
bachelors degree in, the educa-
tor claimed.
"If you have teachers teach-
ing English who are not profi-
cient in English, then we're
going to continue to produce
illiterate students," he lamented.
"I think what the public
would like to know is not what
the commercial sector's expec-
tations are, not what the
teacher's expectations are, but
what are the minister's expec-
tations?" he said.


Former minister questions the



ability of media to report news


FRED Mitchell, shadow nin-
ister of Foreign Affairs and MP
for Fox Hill, criticised the pro-
fessionalism of the local media
and their ability to disseminate
news.
He xvwas speaking during an
interview with local radio talk
show host Jeff rev Llod on
Morc94 I-M vesterdlay.
Mr Mitchell, who was a
b.oadcaster at ZNS under the
Pindling administration in the
late 1970s, said that the local
newspapers have done "egre-
gious wrong" to the former gov-
erning Progressive Liberal Par-
ty (PLP) particularly during
the last political campaign.
* During this time, he said, the
line between the editorial views
and the news content of some
papers was blurred.
Citing the recently
announced joint operation
agreement between The Tri-


bune, The Nassau Guardian,
and The Freeport News, Mr
Mitchell said that the issue of
whether this move is anti-com-
petitive or monopolistic must
be addressed.
"And that has nothing to do
with The Tribune or The
Guardian. That would be if two
entities were able to dominate a
particular market, whether that
is for the public good," he said.
Mr Mitchell said that what is
now needed is anti-competition
laws to ensure that every news-
paper has a "level playing field"
to reach the same market'- oth-
erwise the major papers could
smother all competition.
Mr Mitchell, who has been at
odds with the local media for
some time, also responded to
the suggestion that more inves-
tigative journalism is needed in
the Bahamas."
He noted that investigative


* FRED Mitchell


journalism is something that
would require a lot of "down
time" for a reporter to produce.
However, he claimed that what


is now lacking is something far
more simple the inclusion of
"who, what when, where, and
why" in the first paragraph of
the average story.
"Why is it that I have to read
a story and I don't know who
said, it, when they said it, why
they said it, and why is it impor-
tant to me? I read the whole
story and it is just a set of quotes
from someone who delivers a
speech.
"For example, we had over
the last few days a series of
excerpts of interviews with one
reporter on ZNS with the prime
minister.
"What's the reason for it,
where does it come from, and in
what context is it? And then
where is the balance from the
other side? Who interviewed
the leader of the opposition? Is
he going to get equal time?
Those sorts of issues," he said.


Ban of violent photographs in


two newspapers welcomed


by Venezuelan government


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


* VENEZUELA
Caracas
VENEZUELA'S Supreme
Court has prohibited two news-
papers from publishing graphic
photographs of crime victims,
prompting praise from govern-
ment officials struggling to deal
with rampant street violence.
Information Minister Willian
Lara on Monday said the recent
ruling prohibiting the dailies El
Luchador and El Progreso from
publishing photographs of vio-
lent crime victims was "a posi-
tive event for the country".
"Having a newspaper does-





I SI S .
I 6 0sties
beidteS es


n't come with the right to dam-
age the collective consciousness,
the dignity of the people, as
occurs with the pi lclicilion of
bloody photos on the front and
back pages," Lara said.
The July 20 ruling bly the
Supreme Court, which wias
selected by the C'haive/-domi-
nated National Assemhly, coin-
dcmned El L.uchador and El:
Progreso for iepcatedl pub-
lishing lurid photos hait it said
have a "degene rating and pier
turning lffccl.'"
I hlie courl ruling did not cl, ar


ly spell out what sort of photos
would he acceptable and the
t\\o publiciilions Cwere not fined.
h'i lls hlvCie ipeatecdll shown
that ciline is a leading concern
ainong Venlce/uelans. C('aracas is
considered to he among he
mostly \iOlent cities in Latin
;\Aletric a, vili ih armed robberies
cMoniti-ii) on its streets by day
and gunfire often singing out in
hillside slums at night.
I he iroblcm is that they
don'l \xantl news about crime
publiihi'd,*" said ( arlos Mejias,
director I:. Piogrcso, in a iele-


phone interview. "Our readers
don't complain about the pho-
tos. They complain when the
photos don't appear."
Lara urged newspapers to
report responsibly on crime,
without using particularly grue-
some images.
"Of course it's necessary to
report the crimes. But it's not
necessary to show the cadaver,
and much less in such a morbid
manner of having the injury, the
blood, and the person's open
body organs on the front page;"
he said.


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WEDNESDAY, AUGUST 1, 2007, PAGE 7


THE TRIBUNE


'*4"h~"l


I
I


-' .72*


~j~"u~o~"l~"~~







PAGE 8, WEDNESDAY, AUGUST 1,2007


THE TRIBUNE


Energy strategy and its future





importance to the Bahamas


F OR the past couple of
years as fuel prices
have soared -- government has
talked about formulating a
national energy policy to help
minimize economic and social
disruption in the event of a
global energy crisis.
I lihe need for such a policy
was recently underlined by a
major new report from the US
Nation,,l Petroleum Council,
xw which lhed some haard irulhs"
;boui tihe uloI'al energy fuitre
over tile next 25 years. The
Financial Tim/NC of London
described the report as "'a defin-
ing moment in the history of
the global energy industry. "
I hat's because the NPC is not
some idealistic green lobby. It's
a privately! funded government
advisory body that represents
the views ot the oil and gas
industry. And the Lcurrent chair-
man is Lee Raymond, a former
chief of ExxonMobii.
"Accumulating risks to the
supply of reliable, affordable
energy require an integrated
national strategy," the NPC
report said, adding that any pol-
icy to address those risks had
to balance economic, security
and environmental goals.
World energy demand has
increased about 60 per cent
o\er the last quarter-century,
and is projected to grow by a
similar amount over the next
couple of decades-due to ris-
ing incomes in developing coun-
tries as well as population
increases. And this growth in
demand will be accompanied
by significant supply challenges.
"Over the coming decades,
the world will need better ener-
gy efficiency and all economic,
environmentally responsible
energy sources available to sup-
port and sustain future growth,"
the NPC warned. "Energy secu-
rity can be enhanced by moder-
ating demand, expanding and
diversifying domestic energy
supplies, and strengthening glob-
al energy trade and investment.
Think about it most of the


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world's transportation energy
comes from oil, so if we have a
scarcity of transportation all the
things we use that come from a
distance (including tourists) will
become scarce too.
Although more concerned
with the political challenge of
rising pump prices, the Christie
administration did set up an
energy and environment min-
istry in February 2006 headed
by Dr Marcus Bethel. One of
its key tasks was to draft a pol-
icy based on a study of the
Bahamian energy sector
financed by the Inter-American


Most of the world's
transportation
energy comes
from oil,
so if we have a
scarcity of
transportation all
the things we use
that come from
a distance
(including
tourists) will
become scarce too.


Development Bank.
Dr Bethel also appointed a
committee to review energy
policies developed by CARI-
COM, Jamaica, Belize and St
Lucia. That panel included rep-
resentatives from BEC, the
BEST Commission, and the
Ministries of Financial Services,
Transport and Tourism, and
was separate from the Petrole-
um Usage Committee set up in
2005 to review the pricing of
imported fuels.
To get the ball rolling, the
BEST Commission surveVed
major stakeholders in the ener-
gy sector early last year -
tincluding hotels, oil companies,


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BEC and other government
agencies. All of the respondents
stressed the "importance, neces-
sity and urgency" of a national
policy that would provide guid-
ance for future energy supply
and usage.
So you would expect that by
now we would be well on the
way to addressing our energy
concerns by providing incen-
tives for alternative energy
sources, by promoting fuel effi-
ciency and energy conservation,
and through long-range plan-
ning to meet future power
demand which is projected
to grow at 8 per cent a year.
But you would be wrong.


A consultant from the
IADB (one Herbert
Phillips) did produce a 60-page
"roadmap" for the development
of a national energy policy, but
no-one has followed his direc-
tions yet. Energy now comes
under the portfolio of Works
Minister Earl Deveaux, who
told Tough Call that while he
is interested in seeing the pro-
ject completed, he is now
focused on other priorities.
Tough Call was able to obtain
a copy of the IADB study,
which details our soaring ener-
gy demand. Total energy use in
2005 was 34.4 million gigajoules
- a 32 per cent increase over
2004. (A gigajoule is equivalent
to about 278 kilowatt-hours of
electricity.) And the Bahamas
paid $256 million to import 5.1
million barrels of fuel in 2004,
which jumped to $460 million
for 6.3 million barrels in 2005
- about 8 per cent of our GDP.
And energy demand is expect-
ed to grow at an even faster pace
in the years ahead, due to popu-
lation growth and new invest-
ments. In case you didn't know,
hotels use enormous amounts of
energy, and its cost is critical to
the competitiveness of tourism,
our chief foreign exchange earn-
er and employer; the business
that underpins our standard of
living.


MAXIMUM
RETAIL SELLING
PRICE PER U.S.
GALLON

S


SEA FREIGHT


SEA FREIGHT


I~-- l-4-- --L--I-_-~L----


DIESEL OIL

LEAD FREE


NOT INCL

3.44

4.09


UDING SEA FREIGHT

3.60 3.79

4.32 4.71

UDING SEA FREIGHT

3.60 i 80


4.34 4,74


HARRISON THOMPSON
PERMANENT SECRETARY


PLACE


PART B
FREEPORT

Freeport Oil
Company Limited.


I.TOUGH CALL
R


In fact, we are expected to
import as much as 7.5 million
barrels of oil a year over the
next five years. Crude prices
now stand at over $75 per bar-
rel, and at a projected average
price of $55 a barrel these
imports will cost us over $400
million a year. Added to that
will be the cost of financing the
necessary expansions to our
power grid. That's an awful lot
of money we have to earn from
tourists.
The IADB roadmap argues
that since oil price stability is
an "unattainable goal", rather
than focusing on price controls
or subsidies, the government
should ensure that energy prices
are as realistic as possible in
order to send the right signals to
consumers. In other words,
energy prices should reflect
their actual economic, social
and environmental cost.
"The effects of higher oil
prices could be beneficial in
restricting wasteful consump-
tion," the report says, "spurring
the search for alternative sources
of energy, and increasing aware-
ness of the benefits of conserva-
tion, among which are the reduc-
tion in demand for energy and
environmental protection.

There has been a lot of
talk about solar, wind
and marine power lately, but
for a variety of reasons renew-
able energy is not produced on
a scale which allows for its inclu-
sion in the planning of our pow-
er grid. However, even at their
current low levels, renewables
do help to moderate somewhat
the growth in electricity
demand.
"The Bahamas now has lim-
ited ability to shift quickly to
alternative fuels as primary
energy sources," the roadmap
said. "This means there are few-
er options on the supply side
and more options on the
demand side." In other words,
simply increasing the energy
efficiency of what we do now
can be pretty effective in the
short term.
The roadmap outlined a
series of goals for a Bahamian
energy policy. In summary, they
are to promote energy efficien-
cy and energy conservation, to


increase the use of environ-
mentally clean energy, to diver-
sify and improve the stability of
supply, to enhance storage and
delivery capacity, and to meet
the basic energy needs of the
poor.
One key recommendation
was the formation of a national
council to promote energy effi-
ciency and monitor a proposed
three-year action plan. Another
was to make national invest-
ments in renewables, require
BEC to set targets for produc-
ing energy from waste for the
national grid, and require pub-
lic buildings to use renewable
energy where possible.
To help the poor adjust to ris-
ing energy prices, the roadmap


We will need a
multiplicity of
approaches, and
all the economic,
environmentally
responsible ener-
gy sources that
can be found to
support and sus-
tain prosperity in
the coming
decades.


said the government should
subsidise special groups through
reduced transport fares, low-
cost loans for retrofitting hous-
es, and rebates on energy sur-
charges.
Experts agree that there is no
easy solution that can solve the
world's energy challenges. We
will need a multiplicity of
approaches, and all the eco-
nomic, environmentally respon-
sible energy sources that can be
found to support and sustain
prosperity in the coming
decades. As well as a good dash
of common sense.


Evidence of the growing
unease over global
energy supplies is the fact that
the US Congress is debating
new legislation right now to pro-


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mote energy security, increase
production of renewable fuels,
and improve the energy effi-
ciency of products, buildings,
and vehicles. The Senate ver-
sion of the Bill calls for the elim-
ination of tax breaks for oil
companies, raising vehicle fuel
efficiency standards, and extra
funding to develop and promote
alternative energy technology.
So in the absence of an official
Bahamian policy, what can we
do to promote energy security?
Well, the prime minister could
easily make a general policy
speech at an appropriate time,
and officials could be required
to discuss and promote energy
efficiency and conservation on
every possible occasion to sen-
sitise consumers to the issues.
The ban on co-generation of
electricity should be lifted
immediately. Even for those
willing to consider paying a pre-
mium to run their homes or
offices on solar power, it is cur-
rently illegal. Why should this
be the case when BEC cannot
meet consumer demand as it is?
Import duties should be lifted
on all associated equipment
needed to install solar powered
devices.
A renewable energy council
- consisting of energy audit-
ing firms, water heater
installers, researchers, etc. -
should be formed to educate
consumers and promote this
fledgling industry.
We should ban the importa-
tion of older gas-guzzling autos
with no emission controls.
The importation of incandes-
cent light bulbs should either
be banned or highly taxed.
We should publicly examine
BEC's forward planning, con-
servation measures and load
capabilities, and conduct an
independent energy audit of all
BEC operations.
The building code should be
updated to promote energy and
water efficiency in new homes
and offices.
The College of the Bahamas
should initiate research on
renewable energy applications.


These are minimal and
inexpensive responses
to a major potential problem.
According to the US Nation-
al Petroleum Council, "It is a
hard truth that the global supply
of oil and natural gas from the
conventional sources relied
upon historically is unlikely to
meet projected 50-60 per cent
growth in demand over the next
25 years (The world currently
uses about 86 million barrels
per day of oil).
"Geopolitical changes coin-
cide with increasingly large and
complex technical challenges.
Environmental concerns com-
pete with security concerns.
Carbon constraints would
require huge capital investments
to maintain energy. These
uncertainties, and the risks they
generate, describe the back-
ground for understanding sup-
ply prospects during the next
few decades."
It is simply not prudent to sit
on our hands and do nothing in
such circumstances. A little com-
mon sense will go a long way.

What do you think? Send
comments to larry@tribuneme-
dia.net. Or visit www.bahama-
pundit.com.


FREIGHT


4.04 4.04 4.48
1 __


PERMANENT SECRETARY


GN 544


MINISTRY OF LANDS & LOCAL GOVERNMENT
THE PRICE CONTROL ACT, 1971
CHAPTER 339
THE PRICE CONTROL (GASOLINE & DIESEL OIL)
(AMENDMENT) ( ) REGULATIONS,-2002

The public is advised that prices as shown in the Schedule for DIESEL OIL and sold by Esso
Standard Oil S. A. Limited and LEAD FREE GASOLINE sold by Texaco Bahamas Limited will
become effective on Tuesday, 31" July, 2007.


SCHEDULE


-F +


GN 545


MINISTRY OF LANDS & LOCAL GOVERNMENT
THE PRICE CONTROL ACT, 1971
CHAPTER 339
THE PRICE CONTROL (GASOLINE & DIESEL OIL)
(AMENDMENT) ( ) REGULATIONS, 2002

The public is advised that prices as shown in the Schedule for LEAD FREE GASOLINE sold by
Freeport Oil Company Limited will become effective on Wednesday, 1" August 2007.

SCHEDULE


ARTICLE


--F i-


LEAD FREE (93)


MAXIMUM WHOLESALE SELLING i MAXIMUM
PRICE PER U.S. GALLON RETAIL SELLING
.- .....-- PRICE PER U.S.
MAXIMUM MAXIMUM GALLON
SUPPLIERS' DIS IRIBUTORS'
PRICE PRICE $
$s


,, ,,


-~--


-I


~-----~-~^/~~~~:~- ~^







WEDNESDAY, AUGUST 1, 2007, PAGE 9


THE TRIBUNE


LCLNW


Archaeologists in

Rome dig up ancient

tannery threatened

by railway works

* ROME
ARCHAEOLOGISTS
excavating an ancient tan-
nery believed to be the
largest ever found in Rome
said Tuesday they might
need to move the entire
work site, which is being
threatened by railroad con-
struction, according Ito
Associated Press.
The 1,255-square-yard
complex includes a tannery
dating to the second or
third century, as well as
burial sites and part of a
Roman road.
At least 97 tubs, some
measuring more than three
feet in diameter, have been
dug up so far in the tan-
nery, archaeologists said.
The complex, located in
the Casal Bertone area in
the outskirts of Rome, lies
between two tunnels of a
high-speed railway being
built to link Rome and
Naples, said Stefano Mus-
co, the director of the
archaeological excavations.
"(Even though) there are
only 109 yards of railway
left to build, the archaeo-
logical complex has no
chance of surviving," Mus-
co told reporters during a
tour of the dig. "Either it
stays the way it is and the
works are stopped or, if the
railway must be built, these
remains will have to be cut
out and rebuilt entirely."
He said they might be
moved to a nearby park.
If the complex is moved,
experts would scan the
area with a 3-D laser to
help archaeologists replace
the items in their exict
positions, Musco'said. The
archaeologist, who
declined to say how much
the project would cost, said
technical problems might
arise from the fragmenta-
tion of the structures and
the vastness of the site.
"This is an ancient indus-
trial area not a crafts-
man's workshop, but a big
complex where several
people used to work," he
said.
Musco said the project
will have to be approved by
the Italian Culture Min-
istry. Officials at the min-
istry said the project would
have to be discussed by a
panel of experts.
"I would obviously pre-
fer not to touch anything."
Musco said.
"It will be quite frustrat-
ing to see this thing being
taken away."
The system of roads that
spread from the capital
across the ancient empire is
considered one of ancient
Rome's greatest engineer-
ing feats, and today's trans-
port networks in Italy often
closely follow the routes
chosen by builders two mil-
lennia ago.


I


'Authentic 1973 Bahamian


flag' to be put up for auction


* By DENISE MAYCOCK
Tribune Freeport
Reporter
FR. E PORT Persons
interested in owning a real
piece of independence will be
delighted to learn that a Grand
Bahama man is putting up for
auction what he claims is an
authentic 1973 Bahamian flag.
The flag is a symbol of
national unity, but many
Bahamians say that there are
so many different versions in
circulation that few now know
what the original colour
scheme was.
On July 10, 1973, Britain's
Union Jack was lowered and
the new Bahamian flag of


Grand Bahama resident claims

to have original version


aquamarine, black and gold
was raised in its place.
The aquamarine represents
the beautiful waters of the
Bahamas, the gold symbolis-
es the sun and the black trian-
gle the unity of the Bahamian
people.
Over the years, flags have
been produced with the colour
blue substituted for aquama-
rine, or with the coat of arms
at the centre, or manufactured


P( ICIREI) aie (ari \illiams% :and Super(Cluh.,
Breee RBIIIIahIma% emiplo.1 Ct",.

Breezes Bahamas says

farewell to VP of operations

BREEZES Bahamas vice president of operations
Gary Williams was recognized for his dedication and
selfless service to the tourism industry over the last
decade.
Employees from every department gathered last week
to honour and bid a final farewell to Mr Williams, and
thank him for his leadership and professionalism.
According to those who worked with him. a genuine
desire to hell) people has been the driving force behind
Mr Williams' success in the hospitality industry.
Mr Williams was the first general manager of the
Breezes resort when it opened in 1995 and was later
appointed vice president of operations, responsible for
all Breezes Resorts around the Caribbean.
Throughout his tenure. Mr Williams remained in Nas-
sau.
He will now move on with his family to Jamaica where
he will continue his duties with SuperClubs.


1anpin Motors Ltd


and up

New Shipment

has just arrived


BRING YOUR OLD VEHICLE TO TRADE SO YOU CAN UPGRADE!!!


overseas using poor transpar-
ent material.
A Grand Bahama resident
who claims to have one of the
original 1973 flags, said that
there are many counterfeitl
flags" flying on poles around
the country.
"I think it is unpatriotic to
fly a flag that is not a true rep-
resentation of the Bahamian
flag at government offices
and during national celebra-


tions and events in this coun-
try," the man said.
He said he feels that
Bahamian flags should be
manufactured in the Bahamas
and subjected to inspection by
Bahamian authorities before
they are supplied to the local
market.
He expressed his disap-
pointment of having to pay $20
for a "counterfeit Bahamian
flag" that was made .in China,
and purchased from a local
merchant in Freeport
"The flag was blue it was
made of some sheer, silky
transparent material, and the
black was more like charcoal
grey than black," he said, com-
paring his original Bahamian


flag to the fake one.
The resident, who is origi-
nally from New Providence,
said that he lived through
majority rule in 1967 and grad-
uated high school in 1973 the
year of independence.
"Having experienced major-
ity rule, and then indepen-
dence six years later, I must
say that I have a strong sense
of patriotism as a Bahamian,"
he said.
After banging onto his orig-
inal flag for so many years, the
resident is now ready to part
with it because "it is serving
no useful purpose just sitting in
the attic."
He hopes that in future, the
government will try to ensure
that Bahamian flags being pro-
duced and sold in the country
reflect the original colours of
the flag.
"Counterfeit money is not
acceptable tender, and so it
should be with the flag as well
- the Bahamian flag should
come from one bulk of mater-
ial," the resident said.
He also said he believes that
vendors should to have a cer-
tificate from the government
saying they are authorised to
sell flags.
"There are still flags that are
being sold with the coat of
arms on the flag that is dead
wrong, it is not right, it should
never be. You would not have
it America, you would not
have it any place else, why
have it here?"
The Tribune attempted to
reach Mr Peter Deveaux-
Isaacs, undersecretary in the
Ministry of National Security,
for specific information
regarding how many original
flags were produced, the cor-
rect measurement, and the
kind of material used in 1973,
but he did not return our calls
up to press time on Monday.


('ore 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.

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* Strong oral and written communication skills, in particular
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Benefits include: Competitive salary commensurate with
experience aind 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


L C I LI-~-l II ~lb~sd









PAGE 10, WEDNESDAY, AUGUST 1,2007


THE TRIBUNE


WEDNESDAY EVENING


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


8:00 8:30


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Pig (N) nf (CC)


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apartment. (CC) Syndrome" (CC)


9:00 9:30


AUGUST 1, 2007 | S


10:00 1 10:30


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terrogate community members after
children are murdered. (CC)


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death of a man wearing medieval
armor. f (CC)


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.... I, 2007, PAGE 11


THE TRIBUNE


LC N


Caribbean govts

FROM page one
"Jamaica's Foreign Policy:
Making the Economic Link".
which indicated that the Chi-
nese government was spend-
ing more money on "show
projects" in Caribbean coun-
tries than on direct aid for the
ordinary citizen.
The study conducted by
Diana Thorburn and Dana
Marie Morris stated: "Inter-
ests in some African countries
that have also been receiving
assistance from China are
beginning to complain that a
large percentage of China's
investment is unrelated to
direct productive activities that
would secure the future devel-
opment of their economics."
Dr Rapley urged smaller
countries to pool their
resources and effectively
spread their risks. "There is a
need for more coordination
among Caribbean govern-
ments," he said.
The Caribbean and Latin
America have become a major
battleground for the two rivals,
China and Taiwan, with each
accusing the other of luring
allies away with "cheque book
diplomacy."
Beijing this month cancelled
$15 million of debt owed by
Guyana, at a ceremony attend-
ed by top Chinese and
Guyanese dignitaries, includ-
ing Guyana's President Bhar-
rat Jagdeo.
Meanwhile, Taiwan's vice
president Annette Lu was in
Guatemala Wednesday on the
second day of a three-day vis-
it as Taiwan shored up its posi-
tion in the region.
Taiwan and China split in
1949 after a civil war and the
two governments have since
vied for international recogni-
tion.
China considers the island
of Taiwan part of its territory
awaiting reunification despite
their split in 1949 at the end
of a civil war.
But defiant Taiwan insists
that it is a sovereign state, and
is seeking support from the
island's Central American
allies for its bid for United
Nations membership.
Taiwan lost its UN seat to
China in 1971 and has failed in
annual attempts to rejoin the
organization under its official
name the Republic of China.
Just 24 countries mostly
from Latin America, the South
Pacific and Africa continue
to recognize Taipei rather than
Beijing.


FROM page one


proceedings necessary to do so, b
then administrator Revis Rolle.
In an infamous incident, Messrs
and Mills were involved in a ph'
altercation with each other in 200(1
Mr Rolle being struck in the face.
Charges were filled against Mr
of which he was subsequently vindic
However, at the time of the swe;
in ceremony, a restraining order \
place against Mr Mills, not allowing
to come near Mr Rolle complic
any possible swearing in. Mr Mills <
that the deputy administrator at the
would have been capable of condi
the proceedings.
Mr Mills further alleges that the
tions of chairman and deputy chai

FROM page one

book was removed from the
Worker's House office on July
6.
Mr Bain's faction alleged that
an administrator was given addi-
tional funds by Ms Harding with-
out the expressed consent of the
executive council, and his group
was going to keep the union's
cheque book until this matter
was resolved.
Dissident executives of the
AAAWU also revealed yester-
day an order granted by the
courts to prevent new elections -
scheduled for today from being
held in the union, pending the
determination of summonses
filed before the courts on July
20 and 30.
Mr Bain, who was accompa-
nied at the press conference by
Ms Palmer and representatives
of the Trade Union Congress,
including President, Obie Fer-
guson, said:
"There was never a charge
brought by the executive council
against any of our officers. We
therefore are very pleased that
we have justice at work in this
day."
Mr Bain, who is also assistant
secretary general for the Nation-
al Congress of Trade Unions,
struck out at the umbrella organ-
isation currently headed by
Robert Farquharson.
"They," he said. "have decided
to take sides rather than assist
in bringing about a harmonious
resolution of this problem."
As a result, Mr Bain declared
that his group has now aligned
itself with the TUC.
When asked if new elections
are the only way to solve this
escalating dispute. Mr Bain
answered:
"We don't feel that is the
route for our union to take.


Attorney
"We are not talking about' an
election at this time. We have a
three year term. The three year
term ends in 2009, and we have'
no intention of opposing any-
body. All we are trying to do is
to do the job that was constitu-
tionally laiff out for us to do,
until such time as the election
comes up in 2009," he later
added.
However, Mr Bain further
challenged Ms Harding to pub-
licly state what is the status of
her presidency after she
announced in June that she
would resign, as new elections
were to be held for all executive
officers.
The relationship between Ms
Harding on one side, and Mr
Bain and Ms Palmer on the oth-
er, has deteriorated since Janu-
ary, when rumours swirled that
the two executive officers were
planning a "coup" against Ms
Harding.
In a sworn affidavit before the
courts with Mr Bain as first
plaintiff, one of the main accu-
sations against Ms Harding was
that her actions led to the union
losing $78,000 deposit for the
purchase of the F Rich Trading
Building.
Ms Harding later countered
this claim.
"We have recouped $39,000
which was made known to every
executive officer," she said. "I
can't see him (Bain) saying that I
am not trying to recoup the mon-
ey...I have 14 pages of documents
from October (2006) until now."
According to Mr Bain, five of
the 10 executive officers of the
union are in support of the action
against Ms Harding.
The Tribune was unable to
reach Ms Harding.


THE remains of the plane
(Photo: Felipe Major/Tribune staff)

FROM page one
ers and are said to be British subjects," he said.
Mr Hanna said that one of the brothers is supposed
to be from Nigeria, and the other from France. The 34-
year-old Bahamian pilot received some facial injuries,
but nothing of significance.
"The two passengers received minor injuries to the
head, and another one to the back, and the neck. But
the injuries are not considered to be life threatening.
They were all taken to hospital by ambulance," he
said.
Mr Hanna denied all the rumours flooding The Tri-
bune newsroom about narcotics and persons fleeing the
plane into the bush with "packages" in their hands. He
said that none of these reports were true, Mr Hanna
said that all that was on the plane was a small quanti-
ty of fireworks, presumably for personal qte.


Morton Salt

Pays out

144,000

in back pay

FROM page one

loose ends and preparing to
commence salt harvesting fol-
lowing normal rainfall of an
inch in July.
"The reports from our
supervisors are that the peo-
ple at work are doing a good
job and they are very com-
mitted to their assignments,"
Mr Moultrie said.
He explained that mea-
surements taken last week
indicated growth of approxi-
mately an inch of salt cake in
the pans, which should trans-
late into about 300,000 tons
of salt.
According to managing
director Glenn Bannister, all
of the 52 laid-off workers
should be back on the job by
the second week in August
as previously notified.
"We hope to start harvest-
ing on August 7, and har-
vesting should continue
straight through December.
It just depends on the weath-
er," Mr Bannister said.
In normal weather condi-
tions, Morton Bahamas pro-
duces an average of 1.2 mil-
lion tons of salt annually for
export


Credit Sulsse (Bahamas) Limited
is presently considering applications for

BANKING RELATIONSHIP MANAGERS

The Private Banking Business Department invites applications for three (3)
suitably qualified candidates for the position of
BANKING RELATIONSHIP MANAGERS:

Requirements:

Applicants should possess a degree (or equivalent) in Business
administration
At lease five (5) years banking experience including trading, trade
reconciliation, custody business and securities markets
-. Marketing experience in either Europe, Latin America or North America
Existing client base with assets under management in excess of US$100
Mio.
Candidates should have strong communication skills in English together
with at least one of the following languages: German, Spanish, Italian
and French
- Good computer literacy on PC and host software
- Must have solid analytical skills with keen attention to details
Must have the ability to establish and maintain strong working
relationships with key personnel and work effectively in a team

Willing to travel extensively within the market area designated and
utilize a network of existing contacts and associates
Possess a confident and outgoing personality

Key Duties & Responsibilities will include:

Acquisition and development of new offshore clients
Marketing of estate planning, private banking and portfolio management
services to prospective clients along with additional services, such as, the
set-up of companies and trusts together with administrative procedures
Advising clients on products, services and investment opportunities
Management of accounts / relationships with clients originating from market
area countries.

ONLY APPLICANTS MEETING THE ABOVE REQUIREMENTS WILL BE CONTACTED.
NO TELEPHONE CALLS WILL BE ACCEPTED.

Applications should be submitted:

Human Resources Department
P.O. Box N-4928
Nassau, Bahamas
or via fax 356-8148

DEADLINE FOR RECEIPT OF APPLICATIONS IS AUGUST 10, 2007




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Former councillor

of the town committee were illegiti-
mately selected, and that the election of
councillors was done hastily, and should
be a matter for "judicial review".
"We have not had one town meeting
in over two years of these guys being in
office," he said.
The former chief councillor, who has
been shut out of town committee affairs,
also questions the capability of the indi-
viduals running the council. He claims
they do not consult the community, and
have not successfully completed any pro-
jects since coming to office raising
questions as to how the local govern-
ment funds allocated to them were spent.
"The people of Dundas Town want


to know who are these guys representing
- the people or themselves?" he asked.
Mr Mills said he expected the minister
to have a meeting with the members of
the district in order to evaluate what is
happening, "but it seems like they have
jumped the gun and went into a district
- Hope Town that doesn't have half as
many problems as we have."
He also expressed concern that the
minister and prime minister haven't
intervened in this matter, as this district
is in the prime minister's constituency.
"Dundas Town has more votes than
any place in the Cooper's Town con-
stituency. We have 1,600 voters there.
So shouldn't he have taken care of the
bigger number of people, than going to
Hope Town fooling around with that lit-
tle problem?" he asked.
Mr Mills ran in the last general elec-


tions as an independent candidate for
the North Abaco constituency against
the current prime minister, gaining 276
votes, compared to the 1855 Mr Ingra-
ham secured in victory.
When contacted by The Tribune, Mr
Collie said that he has not yet seen Mr
Mills' letter and will refrain from com-
ment on the matter until he has had time
to review the document.
Hope Town elections are set to replace
two council members who were appoint-
ed by former Minister Alfred Gray when
no candidates opposed them in 2005.
Mr Gray and Chief Councillor Jeremy
Sweeting have called this move by the
government a "political act". However,
the law does give the minister authority
to call such elections in cases where
councillors are appointed rather than
elected.













Castro marks




first year out of




the public eye


..l . tl I .


* A MAN fishes
from a piling in the
community of
Regla, facing the
City of Havana on
Monday, July 30,
2007. Life has
remained little
changed in
communist-run:
Cuba since leader
Fidel Castro I
announced he had
undergone
emergency intestinal
surgery and stepped
aside temporarily
for his brother
Defense Minister
Raul Castro one
year ago
(AP Photo/
Rodrigo Abd)


* 4pc Thighs & Legs

* 2 Regular Fries

* 2 20oz Drinks

* Add 2 Biscuits for 750


0 HAVANA
CUBA passed the one-year
anniversary of Fidel Castro's
withdrawal from power without
official mention of the fact on
Tuesday but Castro published
an essay proclaiming Cuba's vic-
tories at the Pan American
games were a triumph for the
revolution, according to Asso-
ciated Press.
"On 59 occasions we heard
the spirited notes of the Cuban
National Anthem playing in
spite of everything!" Castro
wrote in the latest of a series of
columns, referring to the 59
gold medals the country won
during the hemispheric compe-
tition in Rio de Janeiro second
only to the United States.
.Castro, who turns 81 on
August 13, has not been seen
in public since he underwent
emergency intestinal surgery
and withdrew from day-to-day


government on July 31, 2006.
But Cuba's communist lead-
ership has defied predictions it
would weaken without the man
who had led it since 1959, func-
tioning smoothly under his
brother Raul, the defence min-
ister.
"The most important success
of the revolution is the capacity
to resist nearly half a century
of blockade and privations of
all sorts," Castro wrote Tues-
day, referring to the US embar-
go of his country;
In recent months he has
made his opinions known
through newspaper columns
entitled "Reflections of the
Commander in Chief," weigh-
ing in on Cuba's economy, the
US government and proposals
to use food crops to produce
ethanol.
The last five columns focused
on the Pan American games.
Earlier in the month he had said


he was so engrossed watching
Cuba's performance On televi-
sion that he sometimes forgot
to eat and take his medicine.
The bearded leader is a life-
long sports fan and played bas-
ketball and baseball in his
youth.
Officials have not said if Cas-
tro will resume his duties as
president. Raul Castro, 76,
appears to have consolidated
his rule.
Official news media made no
mention of the anniversary, but
published fragments of a speech
by the younger Castro com-
memorating the 50th anniver-
sary of the death of revolution-
ary activist Frank Pais.
On July 26, Raul Castro gave
a Revolution Day speech recog-
nising that government salaries
did not cover basic needs and
saying the country needed
"structural changes" he did not
detail.


citi



cm pays a























Pictured from left are Mr. Maharaj, Mr. Ingraham, Ms. Butler,
Mr. Ochoa


CITIBANK N.A. local and regional executives recently paid
a courtesy call on Prime Minister Hubert 'Ingraham.

Citi's Suresh Maharaj, Regional Executive for Caribbean
& Central America, Margaret Butler, Citi Country Officer
and Luis Carlos Ochoa, Markets & Banking Head, visited
with the Prime Minister for a brief meet and greet session.

This is the group's first official meeting with the newly
elected prime minister.

Citi is the largest global financial services company in the
world. With over 320,000 employees, Citi and its affiliates
serve customers in 100 countries around the world.


THE TRIBUNE


PAGE 12, WEDNESDAY, AUGUST 1, 2007










WEDNESDAY, AUGUST 1,2007


SECTION


business@tribunemedia.net Miami Herald Business, Stocks, Analysis, Wall Street


Casino operator's $9.4m





Bahamian profit windfall



* Isle of Capri recovers $6.9m in 'accrued casino taxes' as part of deal with government for remaining at Our Lucaya

Ex-minister says operator owed $ 10m in unpaid taxes, with gaming tax rate cut to nine per cent


* By NEIL HARTNELL
Tribune Business Editor
Isle of Capri, operator of Grand
Bahama's Our Lucaya casino, was
able to reverse previous loss pro-
visions of $9.4 million through the
April 2007 agreement with the Govern-
ment and Hutchison Whampoa that kept
it on the island, the majority of these
gains coming from recovered casino tax-
es.
In its form 10-K for the financial year
ended on April 29, 2007, filed yesterday
with the Securities and Exchange Com-
mission (SEC), Isle of Capri said the new
gaming tax rate agreed with the Bahami-
an government had enabled it to recover
"$6.9 million in previously accrued gam-
ing taxes".
This effectively means that $6.9 million
in gaming taxes that should have been
paid to the Government were instead


recovered by Isle of Capri, boosting its
bottom line in exchange for keeping the
casino operator in Freeport and pre-
serving the 230 jobs it provided for a
struggling Grand Bahama economy.
Isle of Capri said yesterday: "The
fourth quarter of fiscal year 2007 includ-
ed $9.4 million of reversed expense as a
result of the company coming to an
agreement with the Bahamian govern-
ment to keep Isle-Our Lucaya open.
"As part of the new agreement with
the Bahamian government, the company
finalized the gaming tax rate to be
applied to the casino's historical and
future gaming revenues. This resulted in
the company reversing an expense in the
fourth quarter of fiscal year 2007 of
approximately $6.9 million in previously
accrued gaming taxes.
"Also, the company agreed with the
Bahamian government on payments
related to a marketing subsidy for the


* OBIE WILCHCOMBE


casino. Under this agreement, the com-
pany reversed a $1.5 million reserve
allowance it had previously recorded
against this marketing subsidy receiv-
able.
"The net impact of these transactions
resulted in approximately $9.4 million in
reversed expenses during fiscal year 2007,
which was primarily recognized in the
Company's fourth quarter."
Isle of Capri said the reduction in the
gaming tax rate to be paid by its Our
Lucaya casino "extended back to Decem-
ber 2003 as part of the agreement with
the government to keep the Isle-Our
Lucaya property operational".
This seems to imply that the gaming
tax rate reduction was backdated back to
December 2003, when the Isle of Capri
was first opened, but former tourism min-
ister Obie Wilchcombe told The Tribune
yesterday that the terms of the new
agreement kicked in from the date they


were signed in April 2007, not made
retroactive.
"I think we took it from the point of
view of 'that point on'," Mr Wilchcombe
said. "What we did was we looked to
move forward. We did not take into
account the past. They [Isle of Capri]
explained to us about the heavy losses
they were incurring and the heavy costs
this imposed on the operation."
At the time of the April 2007 agree-
ment, Mr Wilchcombe said Isle of Capri
owed the Government about $10 million
in unpaid gaming taxes.
He added that what the former
Christie administration did was to effec-
tively *each a settlement with Isle of
Capri on the unpaid casino tax liability,
whereby they "paid out a lump sum" to
the Government that was less than the

SEE page 6


Bahamas left with Mutual fund eyes Bahamas film industry


'non performers'


Small businesses having to

train entry level staff in 'basic

social interaction skills'


* By NEIL HARTNELL
Tribune Business Editor
BAHAMIAN companies are
in danger of being left "with the
non-performers" as a result of the
crisis in this nation's education
system and the tendency of uni-
versity-educated Bahamians to
remain abroad after graduating,
business executives told The Tri-
bune yesterday, with the effects
"disproportionately" felt by small
businesses.
Raymond Winder, managing
partner at Deloitte & Touche
(Bahamas), said the Coalition for
Education. Reform's "message is
even more devastating" when
combined with the World Bank
report that estimated 36.4 per
cent of college and university-
educated Bahamians emigrated
abroad in search of job opportu-
nities.
"Bahamian students are not
coming back, and [companies] are
being left with the non-perform-
ers," Mr Winder said. "That
makes it more devastating. One-
third of the 20 per cent who are
doing well are not coming back.
"Where are we as a country
from the standpoint of individuals
to take us forward in the next
generation?"
Marlon Johnson, the Small
Business Association's executive
vice-president, yesterday told The
Tribune that the Coalition's latest
report showed the need for a
"fundamental rethink" of the way
the Bahamas approached educa-
tion, saying the findings came as
no surprise to anyone in the small
business community.
"It is no surprise for those of us
who have to hire people at entry
level," Mr Johnson said. "The fact
of the matter is that the big, glam-
orous companies take the cream
of the crop the hotels, the banks.
."What's left over at the entry
level is the people the report
speaks to. As we interview these
people, bring in these people, you
have to train them in basic social
interaction, much less the basics
of English and maths.
"We are getting people who
are not fit or are ill-prepared to
enter the workforce. What we
find is that people are not social-
ly prepared. Why do they have
to come to work? Why do they
have to come to work on time?
Why do they have to phone their
employer every time they're ill
and can't come to work?"
Other social skills that many
entry-level Bahamian workers
lacked, Mr Johnson said, were
how to present themselves in a
personal and professional man-
ner at work.


RAYMOND WINDER

Skills to deal with conflicts and
how to react to reprimands from
supervisors were also absent in
many cases, he said, with some
entry-level staff having to be
taught how to interact with fel-
low workers and clients properly.
"The core skills that persons
ought to have learned by Grade 3,
primarily in the home and in the
school, aren't there," Mr John-
son said. The "social element
needs to be there" for students
who can learn, he added, saying
responsibility lay not just with the
school but largely on parents at
home.
"We find too often that many,
after you take away the cash reg-
ister, cannot make or count
change, which is horiffic when
you think about it," Mr Johnson
said.
"Many can't understand their
letter of employment, the con-
tract they're being asked to sign.
We have to sit down and actually
read it to them, so we know that
at least they've had an opportu-
nity to know what it is.
"It is incredibly disturbing that
persons with a work ethic some-
times lack the skills to work."
When it came to the conse-
quences of the absence of quali-
fied, skilled staff for Bahamian
businesses, Mr Johnson said:
"One of the things we don't like
to admit, but it is a reality, is that
it forces us to look outside the
borders at entry level. It exacer-
bates the immigration problem
because small businesses have to
look to the immigrant population
for entry level workers when they
should be looking at Bahamians.
"It also kills your productivity
because you have to hire three
people to do the job of one per-
son. It adds to your costs because
you are having to train people in
the skills they should have when
they enter the workforce.
"A lot businesses have to train
staff in the basic interaction skills
between clients and their staff.
It's a real drag on the economy."


* By NEIL HARTNELL
Tribune Business Editor
A NASSAU-based banker yes-
terday said he was working on an
offshore mutual fund that would
need at least $7-$10 million in ini-
tial seed capital at its hoped-for
launch in the 2007 fourth quar-
ter, if it was to succeed in financ-
ing a Bahamian film industry and
"positive" multi-ethnic films.
Owen Bethel, president of the
Montaque Group financial ser-
vices provider, told The Tribune
he had been asked by a US-based
group to "spearhead" the creation
of the fund, which would invest in
independent film productions by
black and other ethinc filmmakers
that promoted a positive-image.
Although "still very much a
work in progress", Mr Bethel said
he was working on the structure


At


* Bahamas banker working on vehicle to launch in

'07 fourth quarter with $7-$ 10m in initial capital

* Group to make new Bahamas Film Studios offer this week


and operations of the mutual
fund, which would also finance
Bahamian filmmakers and pro-
ducers when it launches later this
year.
On the initial capital the fund
would need, Mr Bethel said: "I
think to start off, and make it a
viable fund, supporting a number
of productions and making it
worthwhile for investors by get-
ting a good return on two or three
of them, you have to look in the
realm of anywhere from $7--$10
million in seeded capital.
"The objective and timeline is


really to look at something by the
end of this year [for launch], the
last quarter of 2007."
Mr Bethel was recently guest of
honour at a reception at the Four
Seasons Hotel in Beverley Hills,
hosted by The Business of Film
magazine, where he was able to
meet with film industry 'movers
and shakers' and Los Angeles-
based Bahamian filmmakers.
He told The-Tribune yesterday:
"This event that took place in Los
Angeles was more of a fact-find-
ing mission for me to meet with a
number of persons in the indus-


try, and to get a sense of the fea-
sibility and viability of a fund of
that nature.
"I came away from that very
positive, but we have to be able to
define the appropriate structure
and operational aspects of a fund.
"The reception provided an
opportunity to meet and listen to
players in the industry, from
actors to cinematographers, direc-
tors and producers, who are inter-
ested in the advancement and

SEE page 2


(a0t...


.





- -


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Mutual fund eyes Bahamas film industry


FROM page 1

expansion of the industry to
include talented African-Ameri-
cans and talented representative
of other ethnicities or cultures.
"It is clear that exceptional tal-
ent should be respected regard-
less of race. There appeared to
be strong support for the devel-
opment of a fund to attract
investors with the intent of pro-
moting low-budget productions.
Such a fund could also have sig-
nificant impact on the develop-


ment of the local film industry in
the Bahamas."
Mr Bethel said he had begun
working on the mutual fund's cre-
ation one year ago, after being
approached by a US-based group.
He added that it would operate in
a similar fashion to Ventanazul,
meaning 'The Blue Window', an
investment fund created to focus
on the Latin American market
and film producers.
He added that the fund would
be "open to all and sundry" who
wished to invest in the film indus-
try. Because mutual funds needed


to produce a return for their
investors, the fund would focus
on good film productions and
producers anyone with a sound
project and cross all ethnic bar-
riers.
Interest
Mr Bethel added: "Obviously,
because my interest would be to
work on developing the local
Bahamian film industry, we
intend to allow local producers
and would-be producers to access
such a fund."


He said Bahamians had
"tremendous" potential when it
came to film production and
development of an indigenous
industry, adding: "I think one of
the problems we have, and it was
shown by the likes of Maria Gov-
an and her production of Rain,
who is now in the editing and
post-production stage and one we
assisted in financinf, is that the
ability and creativity are there.
"What is lacking is the techni-
cal equipment, somewhere where
the Bahamas Film Studios comes
into play, and also the funding


and financing that is necessary
for it.
"I certainly think that low-bud-
get films can be made, and know
of several that have done
extremely well, Crash being one
that won an Academy Award for
best picture two years ago, and
Hustle and Flow.
"Good movies can be pro-
duced at minimal cost, and if you
give the creative minds in the
Bahamas the opportunity to tell
their stories, you can really move
to a budget film industry."
To deliver a return for


investors, Mr Bethel said such
movies and productions did not
have to be multi-million dollar
blockbusters, but produced spe-
cially for DVD release or televi-
sion.
Meanwhile, Mr Bethel said his
group, BahamasFilmInvest Inter-
national, was set this week to
make a counter-proposal and
offer to Ross Fuller, owner of the
Bahamas Film Studios, in their
bid to acquire the facility.
Mr Bethel said: "We have noti-
fied Ross that we are going to
engage him in discussions within
the week, and we have basically
been waiting for the lawyers to
sign off on the documents. Then
we will be in full swing with him."
Bahamas Filmlnvest Interna-
tional's renewed interest was
sparked after it received a new
proposal from Mr Fuller, appar-
ently eager to re-engage the
group after a previous deal to sell
the Bahamas Film Studios to
them fell apart somewhat acri-
moniously in March 2007.
The Tribune understands that
Mr Fuller might have slightly
reduced the purchase price he is
seeking for the Bahamas Film
Studios, which are effectively shut
with only a skeleton security and
maintenance staff on site.
The Film Studios are likely to
have diminished in value as an
asset due tb the long time since
they were last used for a produc-
tion, something that may have
damaged the Bahamas' reputa-
tion as a film and TV production
destination.
Mr Fuller is also understood to
.have come round to the view that
any sale must first be approved by
the Government, rather than
attempting to do a deal where the
foreign-domiciled holding com-
pany for the Bahamas Film Stu-
dios, Ashby Corporation in
Bermuda, is sold without the
need for Bahamian regulatory
approval.
A large chunk of any purchase
price will be needed to settle a
9.95 million liability to United
Insurance, the guarantor for a
loan from First Caribbean Inter-
national Bank (Bahamas), which
was used to construct the Film
Studios' water tank.
Other liabilities include some
$1 million owed to various Grand
Bahama-based suppliers, plus var-
ious lawsuits and liens over the
Bahamas Film Studios, which
include cases filed by Islands by
Design and Paul Quigley, a for-
mer director and shareholder.


Unsuitable applications will not be acknowledged.


Monday, July 30, 2007
Tuesday, July 31, 2007
Wednesday, August 1, 2007
Thursday, August 2, 2007
Friday, August 3, 2007


I Bank of The Bahamas
INTERNATIONAL


GOVERNMENT GUARANTEED ADVANCED

EDUCATION LOAN SCHEME

In collaboration with the Education Guaranteed Fund Loan Program of the Ministry of
Education, Bank of The Bahamas International is pleased to advise that the cheque
disbursement for ALL students in the Loan Program will take place at Holy Trinity
Activity Centre, Stapledon Gardens, beginning Monday, July 30,
2007 to Friday, August 10, 2007 from 9:00 a.m. to 3:00 p.m. as
follows:


NEW STUDENTS
Suirnae r gnnn wt Dt


A-C
0-I
J-M
N-SL
SM-Z


RETURNING STUDENTS

A-C I Tuesday, August 7, 2007
D J Wednesday, August 8,2007
SK- P Thursday, August 9, 2007.
! R-Z Friday, August 10, 2007



TIME: 9:00 a.m. 3:00 p.m.
PLACE: Holy Trinity Activity Centre
Stapledon Gardens


* Returning Students AND Guarantors should be present and must bring relevant
identification, (valid Passport and National Insurance Card).

a New Students AND Guarantors should be present and bring relevant identification,
(valid Passport, Marriage Certificate where applicable, National Insurance Card, current
job letter and copy of a utility bill).

Cheques will not be released until completion of all required documentation.



NO DISBURSEMENT WILL BE MADE
AT THE BANK!


^- AM KAL BTATB


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, corn


COUNCIL OF LEGAL EDUCATION
EUGENE DUPUCH LAW SCHOOL
NASSAU, THE BAHAMAS


POST OF TUTOR
Legal Aid Clinic

Applications are invited from attorneys-at-law who are admitted to practice in The Bahamas
for the post of Tutor at the Eugene Dupuch Law School, Legal Aid Clinic, Nassau, The Baha-
mas. The successful applicant will be expected to assume duties on the 1st day of November,
2007. The post is a full-time one and no outside employment may be undertaken without the
prior approval of the Council of Legal Education.

Applicants are required to have at least five (5) years practical, professional experience includ-
ing both criminal law practice and civil law practice particularly in litigious work, personal
injury cases, family law, conveyancing, real property and probate.

The appointment will be on contract for three (3) years in the first instance and its renewable.

The duties and responsibilities of the post include:-

* Performing the duties of full-time attorney-at-law in the Legal Aid Clinic.
The includes representing clients in court.
* Supervising, instructing and teaching students in the practical aspects of their training.
* Participating in a regular assessment of relevant areas of the established curriculum with a
view to the continued development of content and advancement in teaching methodology.
* Participating in activities to facilitate the training programmes of the Law Schools of the
Council of Legal Education.
* Assisting the Director of the Legal Aid Clinic and performing any other duties as assigned by
the Principal.

Some of the benefits attached tot he post include:

* housing allowance
* duty allowance
* study and travel grant
* book grant

Where appropriate, up to five (5) full economy class passages and baggage allowances will be
paid on appointment and on normal termination of appointment.

Six (6) copies of a letter of application, accompanied by curriculum vitae and supporting docu-
ments, and the names and addresses of three (3) referees, should be sent to arrive not later than
Friday, August 31, 2007 to: -

The Principal
Eugene Dupuch Law School
P. 0. Box SS-6394
Nassau, N.P.
The Bahamas


( i Ro'iffT


PAGE 2B, WEDNESDAY, AUGUST 1, 2007


-1


- - -


THE TRIBUNE














BUSINESS


INTERNATIONAL EDITION


ia i WEDNESDAY, AUGUST 1,2007


THE MARKETS
STOCKS, MUTUAL FUNDS, 8B
DOW 30 13,211.99 -146.32 V
S&P 500 1,455.27 -18.64 V
NASDAQ 2,546.27 -37.01 V
10-YR NOTE 4.75 -.06 V
CRUDE OIL 78.21 +1.38



Lending


troubles


put end


to rally

BY MADLEN READ
Associated Press


NEW YORK Wall Street
resumed its downward skid
Tuesday, falling sharply as
renewed concerns about soured
home loans blew away what had
looked like a solid recovery
rally. The Dow Jones industrials
lost nearly 150 points, while
investors seeking safety moved
into bonds.
Early in the session, stocks
had soared following strong
earnings from General Motors
and Sun Microsystems and
amid somewhat mixed eco-
nomic data. But the market
pulled back after American
Home Mortgage Investment
said Tuesday afternoon it hasn't
been able to tap into its credit
lines and has hired advisers to
consider its options, including
the sale of its assets. American
Home fell $9.42, or 90 percent,
to $1.05 following disclosure of
its difficulties.
Wall Street has been con-
cerned about credit after some.
loans made to borrowers with
poor credit have gone bad, and
that anxiety contributed to the
market's big plunge last week.
Tuesday's trading showed how
vulnerable the market remains,
and how any advance can
quickly evaporate.
"Anything that argues for
higher [interest] rates and
worsening credit conditions
will be something that takes the
air out of the market," said
Denis Amato, chief investment
officer at Ancora Advisors.
The Dow fell 146.32, or 1.10
percent, to 13,211.99 after being
up as much as 140 points during
the session. The move lower
undid a nearly 93 point gain the
blue chips saw Monday in a par-
tial rebound from the 585 points
they lost over the course of
Thursday and Friday.
Broader stock indicators fell.
The Standard & Poor's 500,
index fell 18.64, or 1.26 percent,
to 1,455.27, and the Nasdaq com-
posite index fell 37.01, or 1.43
percent, to 2,546.27.
Bond prices, which move
opposite yields, rose as inves-
tors quickly fled stocks. The 10-
year Treasury note's yield fell
to 4.74 percent from 4.81 per-
cent late Monday.
Oil prices closed above $78 a
barrel for the first time Tuesday
on the New York Mercantile
Exchange, advancing $1.38 to
$78.21. Gold prices closed
higher on the New York Mer-
cantile Exchange.
"Everyone is walking on pins
and needles and with the gains
that were behind everybody I
think they're a little more sus-
ceptible to the bad news,"
Amato said, referring to the ten-
uous nature of the session's
early rally.
Declining issues outnum-
bered advancers on the New
York Stock Exchange, where
volume came to 2.21 billion
shares compared with 2.03 bil-
lion traded Monday.
The Russell 2000 index of
smaller companies fell 8.16, or
L04 percent, to 776.07.
In Asian trading, Japan's Nik-
kei stock average fell 0.23 per-
cent, Hong Kong's Hang Seng
index jumped 1.96 percent, and
China's Shanghai Composite
Index rose 0.7 percent to a new
record.
In European trading, Brit-
ain's FTSE 100 rose 2.48 per-
cent, Germany's DAX index
advanced 1.71 percent, and
France's CAC-40 rose L85 per-
cent.


SPIRITS


BACARDI'S





PREMIUM


INVESTMENT


As consumers seek premium and
super-premium scotch, Dewar's
wants to be ready. Bacardi
plans to invest $250
million behind the brand.

BY ELAINE WALKER
ewalker@MiamiHerald.com
Bacardi Limited wants to make
sure there is enough Dewar's
Scotch on store shelves in a dec-
ade to meet consumer demand.
The Bermuda-based interna-
tional spirits company is invest-
ing in that future with plans to
spend more than $250 million on
capital infrastructure for the Dew-
ar's brand over the next 10 years.
This represents one of the largest sin-
gle sets of investments in capital infra-
structure in the history of Bacardi. The
move comes as demand for scotch and
future growth opportunities have shifted
to the premium or super-premium seg-
ment with products such as Dewar's 12
and Dewar's Signature. It's part of the
general spirits trend toward premium
products, as consumers seek affordable
luxury options.
"Because these are aged products,
you have. to project outward for
demand," said Joaquin Bacardi, senior
global brand director for Dewar's.
"It's obvious we're going to have a
shortage if we don't make these
investments."
Plans call for more than dou-
bling the size of the company's
facilities in Glasgow, Scotland.
Bacardi will build additional ware-
houses for aging the scotch, a new
blending center, additional bot-
*TURN TO SCOTCH


101,000
Nine-liter cases of Dewar's 12
sold in 2003.


195,000
Nine-liter cases of Dewar's 12
sold in 2006.

WORLDWIDE SCOTCH MARKET
Nine-liter cases sold in 2006.


Johnnie Walker
J&B
Ballantine's
Grant's
Chivas Regal
Dewar's
100 Pipers
The Famous Grouse
Bell's
Teacher's


14.2 M
6.0 M
5.6 M
4.4 M
4.0 M
3.4 M
2.9 M
2.9 M
2.3 M
1.8 M


SOURCE: International Wine and Spirits Report, Impact Databank


EWAN GUNN
Dewar's Brand Ambassador
MARICE COHN BAND/HERALD FILE PHOTO, 2004


AUTOMOTIVE


GM posts


2Q profit


of $891M


on gains


overseas
BY TOM KRISHER
Associated Press
DETROIT General Motors ran
its string of profitable quarters to
three on Tuesday when it announced
second-quarter net income of $891
million that came largely from over-
seas operations.
The earnings growth in Europe,
Latin America, Asia and other areas
eclipsed lingering problems in North
America. Although GM showed vast
improvement in its backyard, it still
posted a net loss of $39 million there.
Nonetheless, quarterly profits
announced by GM and Ford raised
hopes that at least two of the Detroit
Three were headed in the right direc-
tion after billion-dollar losses and talk
of possible bankruptcies.
"I think it's brightening up," David
Healy, an analyst with Burnham Secu-
rities, said of the clouds that had been
hanging over Detroit. "Both compa-
nies have shrunk about one-third of
their hourly work force and they've
closed a lot of plants. They're basi-
cally adjusting to the level of business
that they're doing now."
Ford last week posted its first quar-
terly profit in two years at $750 mil-
lion, although the company warned it
had not turned the corner to consis-
tent profitability. Chrysler Group's
second-quarter earnings results have
been delayed until August by the
pending sale of 80.1 percent of the
company to Cerberus Capital Man-
agement.
The second-quarter profits may be
bad timing, coming on the heels of the
formal start to contract talks with the
United Auto Workers, although ana-
lysts say the companies can still point
to losses in North America to show
the need for concessions.
GM's second-quarter profit was a
huge reversal from the $3.4 billion loss
it posted in the same period last year.
"Our heavy commitment to key
growth markets around the world
really paid off in strong growth and
earnings," Chairman and Chief Execu-
tive Rick Wagoner said in a statement.
The net loss in North America was
a major improvement over the second
quarter of last year, when GM lost
$3.95 billion.
In the second quarter of 2006, GM
took a giant after-tax charge of $3.7
billion for early retirement and buy-
out offers that eventually reduced its
hourly work force by more than
34,000.
The latest profit amounted to $1.56
per share for the April-June period,
compared with a loss of $5.98 per
share a year ago.
Revenue fell to $46.8 billion from
$53.9 billion a year ago due largely to
the sale of 51 percent of GM's former
financial arm, GMAC Financial Ser-
vices.
GM shares fell 21 cents to $32.40 in
trading Tuesday after rising as high as
$34.65 earlier in the session.


WASHINGTON


FCC approves rules to govern new airwaves auction


BY JOHN DUNBAR
Associated Press
WASHINGTON The FCC
approved rules Tuesday intended to
give people more choice on their cell
phones and wireless devices after a
pivotal airwaves auction next year.
The vote clears the way for the
auction, which is expected to raise as
much as $15 billion.
The Federal Communications
Commission approved a much-de-
bated "open access" provision,
pushed by Chairman Kevin Martin, a
Republican, and supported by the
agency's two Democrats, that will
allow customers to use whatever
phone and software they want on
about one-third of the spectrum to be
auctioned.
A more ambitious provision that
would have required a licensee to sell
access to its network on a wholesale
basis was not included in the rules.
That makes it unlikely that Google
will bid. Google had been expected to
challenge traditional wireless compa-


nies if the rules had been favorable.
The rules also will allow for the
creation of a shared public safety net-
work that commissioners hope will
solve many of the communication
problems that firefighters and other
first responders have experienced
during disasters like the Sept. 11, 2001,
terrorist attacks.
The vote was not unanimous.
Republican Commissioner Robert
McDowell dissented on the open
access provision, his first "no" vote
since joining the commission. Repub-
lican Deborah Taylor Tate also
expressed concerns about the provi-
sion, but she did not oppose it.
The two Democrats, Michael
Copps and Jonathan Adelstein, would
have preferred that the rules had
included the wholesale concept
sought by Google and consumer
groups. Still, they ended up support-
ing the final rules.
The text of the rules was not
released at Tuesday's meeting. The
language in the document ultimately


will determine which investors will
commit billions of dollars to develop
new wireless networks and which
may not bid at all.
The spectrum to be auctioned has
been praised for its ability to travel
long distances and penetrate walls
easily the same characteristics that
made it attractive to broadcasters
who are vacating it to make way for
all-digital television.
The Congressional Budget Office
estimates the auction's proceeds will
amount to between $10 billion and $15
billion.
A total of 62 megahertz will be
auctioned under the new band plan.
Twenty-two megahertz will be sub-
jected to the "open access" rules
being pushed by Martin. Another 10
megahertz will be dedicated to the
national public safety network, which
will be shared between a commercial
operator and public safety agencies.
Martin said he tried to "strike an
appropriate balance" with the new
rules, noting the criticism from his


fellow commissioners.
Copps said that by failing to adopt
a wholesale provision, the commis-
sion "misses an important opportu-
nity to bring a robust and badly
needed third broadband pipe into
American homes."
While the Democrats thought-the
rules didn't go far enough, the two
Republicans on the commission felt
they went too far.
McDowell was concerned the
rules would impose too much control
on the wireless industry.
Last April, Martin described the
auction as the last best opportunity to
introduce a "third pipe" competitor
to the world of high-speed Internet
access, which is largely dominated by
cable and telephone companies.
Public interest groups, later joined
by Internet search engine giant Goo-
gle, argued that the best way to
ensure that a third-pipe competitor
would emerge was to reserve some
of the spectrum for use by a whole-
saler.


- i -


C I








INTERNATIONAL EDITION WEDNESDAY, AUGUST 1, 2007 I4B


BUSINESS BRIEFS


. DRUG MANUFACTURER


HEALTHCARE LAYOFFS: Technician Irvin Belin inspects
vials at Ortho-Clinical Diagnostics, a Johnson &
Johnson company, in Raritan, N.J. Johnson &
Johnson plans to reduce its work force by up to
4 percent.


Johnson & Johnson


to reduce work force

From Herald Wire Services

Johnson & Johnson (JNJ) said Tuesday it would reduce its
global work force by up to 4 percent, or up to 4,820 jobs, to
cut costs due to a slump in sales of its heart stents and its
No. 2 drug, plus coming patent expirations for key drugs.
The healthcare giant, which employs about 120,500 people
in 57 countries, said the restructuring its largest ever -
would bring pretax charges of $550 million to $750 million
later this year, as well as other, unspecified steps besides job
cuts.
The company said the moves should generate pretax,
annual cost savings of $L3 billion to $L6 billion next year and
similar amounts after that.


* ECONOMY
ECB, BANK OF ENGLAND
MULL PATH ON RATES
With much of Europe on
holiday in August, the Euro-
pean Central Bank's Gov-
erning Council will chat by
phone Thursday about the
state of the economy in the
13 countries that use the
euro, mindful of the recent'
volatility in global stock
markets. But experts are
mixed on whether that will -
gve the ECB a reason to put
off an increase expected for
neitmoiith, or for the Bank
of England to hold off on
another interest rate
increase.

* AIRLINES
NORTHWEST REPORTS
2ND QUARTER PROFIT
Northwest Airlines
(NWA) is out of bankruptcy
and making money, but it's
already running into those
familiar airline headaches:
Fuel costs and staffing
issues.
Northwest Airlines,
which emerged from bank-
ruptcy protection May 31,
earned $273 million during
its second quarter before
accounting boosts related to
its reorganization.
The airline reduced its
labor costs in bankruptcy -
at least through 2011 and
restructured its debt. It has
about $3.3 billion in unre-
stricted cash.

* GROCERY STORE
JUDGE QUESTIONS
WHOLE FOODS DEAL
A federal judge ques-
tioned a central part of
Whole Foods Market's
(WFMI) argument that it
should be permitted to buy
its rival Wild Oats Markets
(OATS). The Federal Trade
Commission has filed suit in
federal court to block the
$565 million deal, claiming
that the two companies
compete in a specific market
of natural and organic food
and their combination will
lead to reduced service and
increased prices.
David T. Scheffman, an
expert witness called by the
two companies, disputed
that contention and said the
two chains compete with
other grocers.


* TECHNOLOGY
DELL DELIVERS FIRST
'MADE IN INDIA' PC
Dell (DELL) said it deliv-
ered its first "Made in India"
computer, with hopes that
production will lift domestic
sales in a market that is
growing 30 percent a year.
The desktop computer
from Dell's plant near Chen-
nai in southern India was
delivered Monday to out-
sourcing company Infosys
Technologies, one of Dell's
largest customers in the
Scbuntry, the company said.
In the year ended March
2007,63 million computers
were sold in India, accord-
ing to MAIT, a hardware
trade body.

JAPAN
SHARP TO CREATE NEW
FLAT PANEL BASE
Electronics maker Sharp
plans to spend about
$3.2 billion on a new LCD
panel factory that will form
the core of a new flat-panel
industrial park, the company
said Tuesday.
The electronics maker
envisions the industrial park
as a "manufacturing com-
plex for the 21st century,"
and plans to invite other
leading material manufac-
turers to set up plants adja-
cent to its liquid-crystal dis-
play factory, it said.

EARNINGS
ALCATEL-LUCENT
REPORTS LOSS
Telecommunications
equipment maker Alcatel-
Lucent (ALU) posted its
second straight loss in the
second quarter on costs
related to its recent merger
and an unfavorable product
and geographic mix, the
company said Tuesday,
prompting a 9 percent drop
in its share price.
The company, formed
last year when Alcatel and
Lucent merged, reported a
net loss of euro586 million
($800.4 million) for the
quarter, compared with the
eurol28 million profit the .
companies would have
reported together a year ear-
lier.
The included $342 mil-
lion to amortize the Lucent
purchase.


LATE TRADING


4 pm. 635 p.m. Late
Stock T. dose close Chg. volume
SPDR SPY 145.72 145.10 -.62 202909
SP Fncl XLF 32.90 32.99 +.09 158250
Microsoft MSFT 28.99 28.93 -.06 131929
PwShs QQQ QQQQ 47.53 47.45 -.08 112853
Pfizer PFE 23.51 23.55 +.04 110551
WalMart WMT 45.95 45.95 63822
iShR2K nya IWM 77.10 76.78 -.32 42643
SunMicro 5UNW 5.10 5.10 37822
Intel INTC 23.62 23.62 37111
Cisco CSCO 28.91 28.95 +.04 34331
SLM Cp SLM 49.17 49.17 32746
FirstData s FOC 31.79 31.79 27045
iSR1KV nya IWD 82.80 82.72 -.08 25930


4 p.m. 635 p.m. Late
Stock Tk. ose close Chg. volume..
GnMotr GM 32.40 32.50 +.10 22491
Oracle ORCL 19.12 19.06 -.06 21629
iShBrazil EWZ 63.60 63.60 21385
ArchstnSmrn ASN 57.41 57.41 19416
LillyEli LLY 54.09 54.09 18015
BauschL BOL 63.93 63.93 17836
JnprNtwk JNPR 29.96 29.96 17622
VerizonCm VZ 42.62 42.25 -.37 17370
iShMex nya EWW 58.79 58.60 -.19 16408
Comcasts CMCSA 26.27 26.27 16144
Expedia EXPE 26.61 26.61 16103
HomeDp HD 37.17 37.20 +.03 15301


CHINA


Paulson aims to prevent sanctions


BY JOE McDONALD
Associated Press
BEIJING U.S. Treasury
Secretary Henry Paulson met
Tuesday with Chinese officials
in hopes of defusing congres-
sional demands for sanctions
over currency and trade dis-
putes, but a key leader said
Beijing already is taking action
and is constrained by poverty.
Vice Premier Wu Yi, Paul-
son's counterpart in a "strate-
gic economic dialogue,"
expressed hope that his visit
this week to one of China's
poorest areas will help him
illustrate the country's true
conditions to its critics in Con-
gress.
CONCESSIONS
Analysts say Paulson is
unlikely to win any Chinese
concessions but hopes to
return to Washington with an
upbeat status report to stave
off pressure for sanctions over
Beijing's currency controls
and soaring trade surplus with
the United States.
Paulson started his trip
with a stop Monday at Qminghai
Lake in China's remote west,
where he observed the envi-
ronmental costs of the nation's
economic boom.
"I'm very happy that you've
seen an area that is, relatively
speaking, lagging behind in
China so as to obtain a more
complete picture of my coun-
try," Wu told Paulson as they


II
AP/EYEPRESS
TRADE TALKS: U.S. Treasury
Secretary Henry Paulson
met with Chinese officials
in Beijing Tuesday for talks
on trade, currency and
other disputes.

began a meeting.
"I'm sure your visit to Qin-
ghai province will enrich the
materials you present in future
testimony before the U.S. Con-
gress," Wu said.
Wu said Chinese officials
have 55 remaining tasks from
the last meeting of the dia-
logue held in May, including
20 priority items to address
before the next meeting,
which is expected in Decem-
ber.
"I attach great importance
to implementing the follow-up


Critics say China keeps the yuan undervalued,
giving its exporters an unfair price advantage
and adding to its growing trade surplus.


actions of the Strategic Eco-
nomic Dialogue," Wu said.
Paulson held talks earlier
with China's central bank gov-
ernor and was due to meet
President Hu Jintao on
Wednesday.
American lawmakers have
proposed measures to force
Beijing to end controls on its
currency, the yuan. A bill
approved by a Senate panel
last week would require Trea-
sury to identify and punish
countries that manipulate
their currencies.
Critics say China keeps the
yuan undervalued, giving its
exporters an unfair price
advantage and adding to its
growing trade surplus.
The last dialogue meeting
in May ended with minor
agreements but no progress on
currency.
China revalued the yuan by
2.1 percent against the U.S.
dollar in July 2005 and has
allowed it to rise by about 7.2
percent since then. The rate of
increase has accelerated in
recent months, but analysts
expect Beijing to restrain the
yuan's rise to about 5 percent
annually over the next few
years far less than critics
want.


SPIRITS


I


Bacardi plans to invest


$250M in Dewar's


*SCOTCH

tling lines and packing equip-
ment.
The company is also final-
izing a deal for another 100-
acres of land in central Scot-
land, which will be used to
build another maturation and
blending facility.
BIGGER BRAND
When Bacardi acquired
Dewar's in 1998, the brand
was Dewar's White Label,
which has consistently been
the top-selling scotch in the
United States.
But since then Bacardi has
expanded the portfolio to
include Dewar's 12, Dewar's
15. Dewar's 18, Dewar's Signa-
ture- and Aberfeldy single
malt.
Not all of the products are
available in the United States.
The extensions of the
Dewar's brand came during a
period when international
sales for the House of Dewar's
have declined slightly from
3.6 million cases in 2000 to 3.4
million cases in 2006, accord-


When Bacardi acquired Dewar's in 1998, the
brand was Dewar's White Label, which has
consistently been the top-selling scotch in the
United States.


ing to Impact, an industry
publication.
Yet the premium end of the
business has seen double-
digit growth, increasing from
101,000 cases of Dewar's 12 in
2003 to almost 195,000 cases
in 2006, according to the
International Wine and Spir-
its Report.
The performance reflects
the trends of the entire Scotch
category, which particularly
in the United States has suf-
fered through years of decline
and an image problem.
BEST YEAR
But in 2006, the category
had its best year internation-
ally in terms of sales volume
and dollar value.
Most of that success has
come from success in the pre-
mium- or super-premium seg-


ment of the market and in
emerging markets like China,
Latin America and Africa.
REACHING OUT
"Our brands are now being
offered to new consumers we
didn't have access to before,"
Joaquin Bacardi said.
Industry expert Tom Pirko
believes Dewar's is a "brand
certainly worth investing in."
But Pirko also sees the invest-
ment as another effort by
Bacardi to solidify its position
in a consolidating spirits
industry.
"The more money they
invest and the more they bulk
up, the more they ensure that
they're less at risk of a take-
over," said Pirko of Bevmark.
"Sometimes the very best
defense to remain indepen-
dent is to spend."


Chinese leaders say they
plan to eventually let the yuan
trade freely on world markets.
But they say acting too
abruptly will hurt China's frail
banks and cause financial tur-
moil.
Paulson, a former Goldman
Sachs chief executive, has
pleaded with Congress for
time to let the dialogue work.
But China's supercharged
growth is fueling arguments
that it can afford to move
faster.
The economy expanded by
11.9 percent last quarter the
fastest quarterly growth in 12
years and the trade surplus
jumped by 85 percent in June
to $26.9 billion.
SAFETY COMPLAINTS
Beijing's standing with its
critics also has been hurt by its
disastrous string of safety
complaints about products
ranging from toxic toothpaste
to faulty tires.
On Monday, the state-run
China Daily newspaper com-
plained that the Senate bill
"smacks of strong protection-
ism" and warned that it "risks
undermining ongoing bilateral
efforts to reduce trade imbal-
ances."

GOVERNMENT



Firms



awarded



contracts

BY DIBYA SARKAR
Associated Press
WASHINGTON -
Twenty-nine companies -
including Electronic Data Sys-
tems, General Dynamics and
AT&T on Tuesday were
awarded a federal computer
systems contract potentially
worth up to $50 billion over 10
years.
The General Services
Administration, the govern-
ment's main buying arm, said
the 5-year contract, which has
five 1-year options, covers
most technology services,
such as computer design, soft-
ware engineering and systems
integration.
The so-called Alliant con-
tract is open to all federal
agencies, including the
Defense Department, and get-
ting on the long-anticipated
contract is a big deal for the
companies.
"The key here is to get pre-
qualified," said Jim Krouse, an
analyst at market research
provider Government Sales
Force.
But the winners aren't nec-
essarily guaranteed work from
the agencies, analysts said.
Agencies will issue orders
for services through the gov-
ernment-wide contract and
the companies will have to bid
on them. Agencies can also
choose to go on their own.
Some other major winners
include: Computer Sciences,
Harris, Lockheed Martin,
International Business
Machines, Unisys, SI Interna-
tional and BearingPoint.
Shares of EDS added 19
cents to close at $26.99 on
Tuesday, while General
Dynamics shares fell 95 cents
to $78.56 and shares of AT&T
dipped 61 cents to $39.16.
BearingPoint shares shed 43
cents or 6.19 percent to
close at $6.52, while SI Interna-
tional shares dipped $1.26 -
or 4.15 percent to $29.13 and
shares of IBM fell $3.87 or
3.38 percent to $110.65.
Ray Bjorklund, a senior vice
president at market research
firm Federal Sources, said the
contract should make it easier
for agencies to order compre-
hensive technology services.
He also said agencies will
likely get a good price due to
the number of companies on
the contract.
John Klebonis, AT&T's
vice president of professional
services, said getting on
Alliant is important for the
company. Alliant is the fourth
major contract that GSA has
awarded AT&T.


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


--JI _ L I I


THE MIAMI HERALD I MiamiHerald.com


777--
._ .. .. .









THE TRIBUNE EDNESDAY, AUUSNSTS,07 AE5


Work permits 'back


on track'


in two


to three weeks


* By CARA BRENNEN-
BETHEL
Tribune Business Reporter
THE slowdown in work per-
mit approvals should resolve itself
within the next two to three
weeks, the director of immigra-
tion told Tribune Business yes-
terday, saying that a change in
ministerial portfolios during the
former PLP administration con-
tributed to a build up in new and
renewal applications.
Vernon Burrows explained that
when Shane Gibson was minis-
ter of immigration and labour,
there were weekly Immigration


Board meetings to assess and
process work permit applications.
However, when Mr Gibson
resigned his Cabinet post earlier
this year over the Anna Nicole
Smith situation, the then-works
minister Bradley Roberts
assumed the immigration portfo-
lio.
"But due to his workload he
couldn't make all the meetings,
so we had to skip some. I don't
think people realise the volume of
work that we do," Mr Burrows
said in relation to dealing with
permit applications, which apart
from work permits also include
residency permits and citizenship


applications.
Mr Burrows was responding to
concerns raised by the business
community that the former PLP
administration stopped approv-
ing work permits several months
before the May 2 general elec-
tion, and that the FNM govern-
ment had not yet resumed pro-
cessing the applications. They
claimed this had created a back-
log of applications, and left busi-
nesses in a state of limbo.
However, Mr Burrows
explained that there was never a
'stop' in the processing of work
permit applications. Rather, he
said they did not have the Immi-
gration Board meetings as fre-
quently as they used to.
"We used to have meetings
every week, but then we started
skipping meetings and maybe had
them once every other week, and
so we could not process as many
applications as we used to," he
added.
With the new administration
settling in, Mr Burrows said he
believed the pace will pick up.
"We are gradually getting
there, and we suspect that we
should be back up to speed in two
to three weeks," Mr Burrows
said.
Brian Nutt, president of the
Bahamas Employers Confedera-
tion (BECon), told Tribune Busi-
ness that he and other BeCon
members had noticed that there
had been a slowdown in the
granting of work permits for a
while.
However, he said that since the
latter part of last week, he has
personally seen the pace in deal-
ing with work permit applications
has picked up.
"I know that some other per-
sons mentioned the same thing


to me, that there had been a
backlog of cases, but things are
moving now relatively quick," Mr
Nutt said.


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 oCfi,.e 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.


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 bahamas(cdtnc.orq.









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


Legal Notice
NOTICE

ALVARO HOLDINGS LIMITED




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



ARGOSA CORP. INC.
(Liquidator)


Legal Notice

NOTICE

KILPERN FENN HOLDINGS LTD.

(In Voluntary Liquidation)


Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
18th day of July 2007. The Liquidator is Argosa Corp.
Inc., PO.Box N-7757 Nassau, Bahamas.





ARGOSA CORP. INC.
(Liquidator)


IndiGO
N E T W O R K S
IndiGO Networks is a developing telecommunications company based in Nassau, Bahamas.
The company has a 16-year history in offering innovative technology and telecommunications
solutions to businesses in The Bahamas. In 2004 IndiGO was granted the first and currently
only license to allow international and domestic voice competition with the Bahamas
Telecommunications Company. IndiGO Networks is currently in search of a highly qualified
individual to fill the position of Senior Network Engineer.


Senior Network Engineer
Job Description
Successful candidates should be highly energized and willing to take on the challenges of
a fast-paced network rollout. The Network Services team is tasked with the 7/24/365 OA&M
of an international telecommunications network. The successful candidate will be challenged
with a collection of objectives in the next year.
Responsibilities
* 7/24/365 OA&M
* Administration and maintenance of all network hardware/software, NMS, custom monitoring
tools and an underlying Cisco telephony infrastructure
* Storage Management & System Backup/Restoral (NetApp/Symantec Netbackup)
* Ongoing administration of MMDS wireless network
* Monitoring and troubleshooting inter-carrier switch-to-switch interconnection
* Creation and support of network management and maintenance scripts
* Creation and maintenance of Tier 1-3 support documentation
* Creation and maintenance of network diagrams
* Network and subscriber capacity planning
Qualifications
* Proficient in all aspects of network engineering: design, implementation, monitoring and
troubleshooting
* Willing to follow assigned projects through to successful completion
* Willing to work hands-on 7/24/365 and participate in on-call schedule to resolve network
problems
* Must be comfortable in a team environment
* Minimum of 7-10 years of relevant technical experience
* University degree
* Cisco certifications CCNP or CCIE highly preferred
* Previous telecom experience in a similar capacity maintaining a service providers network
preferred
* Extensive experience with Cisco routers, switches (LAN and WAN) required. Additional
expertise with VolP gateways, SS7 controllers, and BTS softswitch preferred
* Comprehensive knowledge of TCP/IP, EIGRP, BGP, OSPF, telecom circuits from DS-O
through OC-3
* Broad Knowledge of IP telephony (VoIP/VoN), softswitches, PSTN gateways, SS7,
QoS,SIP,H.323, MGCP
* Fluent with data packet analyzers and IP packet analysis
* Excellent verbal and written communications skills. Experience writing OA&M
documentation
* Excellent troubleshooting and analytical skills
IndiGO Networks offers a highly competitive package of benefits. Salary is commensurate
with qualifications and experience.
Qualified candidates should submit their resumes in writing to:
IndiGO Networks PO BOX N-3920,
Attention: Network Services Manager
or via email to: careers@indigonetworks.com


WEDNESDAY, AUGUST 1, 2007, PAGE 5B


THE TRIBUNE








PAGE 6B, WEDNESDAY, AUGUST 1, 2007


THE TRIBUNE


Casino operator'S $9.4m Bahamian profit windfall


FROM page 1


amount owed.
This settlement, he inc
was what probably allow
of Capri to take the $6.9
gain on the accrued casino
Some might argue that the
operator received 'too s
deal', but the Governme
to balance the concession
the need for jobs for Baha
especially in the run-up
May 2 general election.


NOTICE

NOTICE is hereby given that ALEXANDER BAIN OF
POLHEMUS STREET, 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 25TH day of JULY, 2007 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
Bahamas.







BAHAMAS SOCIETY OF ENGINEERS
NOTICE
www.bahamasengineers.org

THE BAHAMAS SOCIETY OF ENGINEERS
Cordially invites you to attend

THE MONTHLY LUNCHEON
on

Wednesday, August 1st, 2007


"NAD:
COMMITTED TO CREATING
OPPORTUNITIES FOR
ENGINEERS AND OTHER
BAHAMIAN PROFESSIONALS"


GUEST SPEAKER:
MR. CRAIG RICHMOND
PRESIDENT
NASSAU AIRPORT
DEVELOPMENT COMPANY


PLACE:
GRAYCLIFF RESTAURANT
WEST HILL STREET
Time: 12:00p.m.
Tel: 364-3459


Mr Wilchcombe said: "There
were arrears, given the hurri-
canes, of around $10 million or
thereabouts [in casino taxes] We
were able to scale that back.
"Now we move forward with
dicated, the new regime. It's around 9 per
'ed Isle cent [the gaming tax rate to be
million paid by Isle of Capri on casino
o taxes. winnings] from 17 per cent."
e casino Mr Wilchcombe said the gam-
sweet a ing win tax rate provided to Isle
;nt had of Capri "created an issue" given
ns with that it was more favourable than
amians, that enjoyed by New Providence-
to the based casinos, principally those
at Atlantis and Baha Mar, both of
which had 'Most Favoured
Nation' clauses in their Heads of
Agreement that stipulated no oth-
er casino operator could have
terms that were better than theirs.
However, Mi Wilchcombe said
!4 B the former government's Lon-


don-based consultants produced a
report saying that each Bahamian
island with a casino/casinos
should be treated as a separate
gaming market in its own right,
not compared with other islands.
"We had a report done by our
firm in London, John Godfrey,
and they said that because you're
talking about different markets,
and you don't have the mass New
Providence has in terms of casi-
nos and tourists, you're doing a
negative service to Grand
Bahama" with the existing tax
regime," Mr Wilchcombe
explained.

Consultants

The London-based consultants
recommended that rather than
operate a 'global tax' regime for
the Bahamian casino industry,


NOTICE

NOTICE is hereby given that ALBERTO AUGUSTIN of 1
TASMIN CIRCLE, FREEPORT, GRAND BAHAMA, BAHAI
is applying to the Minister responsible for Nationality
Citizenship, for registration/naturalization as a citizen of
Bahamas, and that any person who knows any reason
registration/ naturalization should not be granted, should se
written and signed statement of the facts within twenty-eight a
from the 25th day of July, 2007 to the Minister responsible
Nationality and Citizenship, P.O.Box N-7147, Freeport, Bahar


INSIGHT


with all properties paying the
same tax rate, the Government
introduce different gaming win
tax rates for different islands.
"It was upon their assessment
that we made the call on Isle of
Capri," Mr Wilchcombe said.
"We were able to accomplish an
arrangement that was good for
Grand Bahama, and will allow
the casino industry to stabilise
and develop there."
On the marketing side, Mr
Wilchcombe said the agreement
had been for the Government to
contribute around $4 million to
a joint marketing venture to pro-
mote the Isle of Capri casino.
He was unable to recall the
exact amount, and suggested The
Tribune speak to David Johnson,
deputy director-general at the
Ministry of Tourism, who negoti-
ated the Isle of Capri deal with Sir
Baltron Bethel, former Hotel
Corporation deputy chairman
and managing director.
Mr Johnson could not be con-
tacted because the Ministry of
Tourism phone lines were down,
but Mr Wilchcombe said the
arrangement was that the Min-
istry of Tourism would be direct-
ly involved in Isle-Our Lucaya's
promotion rather than it be left
solely to the company.
The former minister added that
it may have taken Isle of Capri
some time to come to grips with
the marketing strategy for Grand


MAS
and
The
why
nd a
days
e for
mas.


PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, ABANIQUE APRIL
THOMPSON of Devonshire Street, of the Western District,
P.O. Box N-7989, Nassau, Bahamas intend to change my
name to ABANIQUE FRANCES ESTHER THOMPSON. If
there are any objections to this change of name by Deed Poll,
you may write such objections to the Chief Passport Officer,
P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days
after the date of publication of this notice.




NOTICE
NOTICE is hereby given that SHIRLINE ANASCAL, OF
HAMSTER ROAD, P.O. BOX CR-54802, 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 1ST day of AUGUST, 2007 to the Minister
responsible for Nationality and Citizenship, P.O.Box N-7147,
Nassau, Bahamas.




NOTICE OF SALE

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

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

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 time
of contract and the balance upon completion within
Thirty (30) days of contract.

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

Interested persons may submit written offers addressed to
the Attorney SSS, P.O. Box N-272, Nassau, Bahamas to be
received no later than the close of business on the 10th day of
August, A.D. 2007.


C P A L"
Pricing Information As Of:
Tuesday, 31 July 200 7
BISX I LISTED & TRANo. MeCL nTIe.-s vi.sWW W .BXBAHAMAS COM FOR MORE DATA & INFORMATION
BISX ALL SHARE INO .: 0OL'E1..,444.,, CHG 00.33 / %CHG 00.02 / YTD 168 25 / YTD % 10.04
" ..5. '. ,...'. .L :... .vse -uril Preaous C ,se Toda, s Cl.:,se Cr.an.rj- Ol, ..1 -P'; i C.. .I, '.'.lh
S, f j "naco- r.-,o els 1 o60 1 60 ,- ..0 -,'. ,' r6i000 r I ,0o
12.05 11.00 Bahamas Property Fund 11.65 11.65 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 57 1.20 Fidelity Bank 1.57 1.57 0.00 0.064 0.020 24.5 1.27%
10.75 9.10 Cable Bahamas 10.72 10.72 0.00 0.949 0.240 11.3 2.24%
2.41 1.80 'Colina Holdings 2.41 2.41 0.00 0.281 0.080 8.6 3.32%
15.12 10.99 Commonwealth Bank 15.10 15.12 0.02, 1.167 1.152 .0.680 13.1 4.50%
6.32 4.60 Consolidated Water BDRs 5.74 5.79 0.05 0.112 0.050 51.3 0.87%
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 5,997 0.694 0.240 8.9 3.87%
12.76 11.51 Finco 12.76 12.76 0.00 0.787 0.570 16.2 4.47%
14.70 12.80 FirstCaribbean 14.65 14.65 0.00 0.977 0.470 146 3.21%
20.73 11.15 Focol 20.73 20.73 0.00 1,000 1.657 0.530 12.5 2.56%
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 0.00 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%
'.* .' ''l Qar,-The-C nter Sec-jritles
5t.M .i ''- -.'..-L.:. _. SymboTi1 Bed S,,,sri I _L '-.1 ;'T'r,,_- .. l i, ._1 1 ___" _Dt 0. PC I ___ : :-".
1J ,'' 1.- Ba ,arlr-.as t perrrarKelI 14 6C 5 &D0 rc. ',',1 :4 i 1._- 1' 1 1
10.14 10.00 Caribbean Crossings (Pref) 6.00 6.25 10.00 0.000 0.640 NM 7.85%
0.54 : C'R i-i. i.d;.-.._i 0 -,T r, Jir, ,. : 0.034 0.000 11.8 0.00%
. i Ovfr-Th-Counter Securities
43.00 28.00 ABDAB 41.00 43.00 41.00 ... L, *J *,-*,.* ? a -:
14.00 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%
' ".".B lstd Mllal Funds
52wk-Hi 'L". .S'.L...SF r, ra,, N TE, L i. t, r L i1 .1,nths Div $Yield%
1.3484 1.2998 Colina Money Market Fund 1.348410"
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*l
11.6049 11.0691 Fidelity Prime Income Fund 11.6049*****
hNIDte:,QLEt)8E 833.57 / YTD 12.33% .' 2006 3. 47'---
L i-, L. i . .: ..: = I .:.:.: *:F .r.-.r.ET TEF.Mr.C 14 L .a', ., .. ..,. 1: ,d d by cl, in-. q ric NAV KEY
52wk-HI Highest closing price In last 52 weeks Bid $ Buying price of Colinn ana Fidelity
52wk -Lw Low.st closing price in last 52 weeks Ask $ Selling price of Colina and fidelity 20 July 2007
Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-coui ntel pric
Today's lose Current day's weighted price for daily volume Weekly Vol Trading volume of the p l wr k 30 June 200
Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mthls
Daily Vol Number of total shares traded today NAV Net Asset Value 31 May 2007
DIV S Dividends per share paid in the last 12 months N/M Not Meaningful
P/E Clu ng price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index JLnutr l 1994 100 Jd June 2007
30 June 2007
TO TRADE CALL: C5i b -?" 64 ?FOR MORE DATA & INFORMATION CALL (242) 394-2503


I


BUSINESS


Bahama, and the fact it was a,
high-end destination compared
to some of their other properties.
Isle of Capri was also able to
reverse other provisions it had
previously taken in anticipation
of existing the Grand Bahama
market in its fourth quarter
results, including a $2.4 million
lease impairment charge and $1.2
million for severance payments.
Paid

Isle of Capri said: "The previ-
ously paid $2.2 million lease ter-
mination penalty was reversed
and recorded as a prepayment of
rent in the fourth quarter of fiscal
year 2007. The prepaid rent will
be amortised over the remaining
lease term.
"Also, the remaining accrued
severance payments of $1 million
was reversed, as the payments
were no longer probable based
on the decision to continue to
operate the casino. The impair-
ment charge will not be reversed
in connection with these transac-
tions."
Isle of Capri now leases the
Our Lucaya casino under the
terms of a two-year lease that
began on June 1, 2007, with
annual rental payments standing
at $1.9 million. However, begin-
ning in October 2007 the lease
may be ternfinated by either par-
ty with six months notice.


NOTICE

NOTICE is hereby given that ENSI PRUDENT OF OLD FORT
BAY, P.O. BOX N-10478, 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 25TH day of JULY, 2007 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
Bahamas.





GRAHAM

REAL ESTATE
Showing Integrity Every Day





Looking for a location to display your
artwork?


Beautiful loft style penthouse available
for rent in a central location.
$24 per sq. ft. & CAM.


Call us today at 356-5030.




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
island. This includes:

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

3. Food & Beverage Director

* University 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








..-... ouLM, AUGUST 1, 2007 PAGE 7B


THE TRIBUNE


COMMONWEALTH

BANK CHAIRMAN'S REPO


)RT ON UNAUDITED RESULTS JUNE 30, 2007


I am pleased to report Commonwealth Bank's continuing strong performance. For the first six
months of 2007, net income was $22.4 million, an increase of 25.1% over the same period of
2006 ($17.9 million).
This robust performance resulted in earnings per share for the second quarter of 28 cents,
(2006: 25 cents) and for the six months to June 30th 2007 of 59 cents, compared to 48 cents for
the first half of 2006, an increase of 11 cents per share or 22.9%.
Total Assets increased to $1.1 billion at June 30th, 2007.

Compared to the same period in the prior year, Annualised Return on Common Shareholders'
Equity was 34.4% up from 32.6% and Return on Assets increased to 3.65% from 3.53%.

At the Bank's Annual General Meeting in May 2007, the Bank advised shareholders that it was
reviewing its share price to determine if and when a stock split would be appropriate and
beneficial to the shareholders. At June 30, 2007 the Bank's common shares were trading at
$14.69 up from $12.51 at December 2006, and have since passed the $15.00 mark In July 2007.
The shares continue to be heavily traded as a percentage of BISX trading volume. The Bank is
encouraged by the share performance on BISX. The Bank is mindful of the requirements of


COMMONWEALTH BANK LIMITED
CONSOLIDATED BALANCE SHEET
(Expressed in Bahamian dollars) (Unaudited)


June 30, 2007 December 31, 2006


ASSETS
Cash and deposits with banks $ 12,915
Balances with Central Bank 84,890
Government Stock, Investments and Treasury Bills 102,419
Loans Receivable (net) 873,552
Premises and equipment 30,696
Other assets 1,185
TOTAL $ 1,105,657

LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits $ 872,845
Life assurance fund 14,698
Other liabilities 18,511
Total liabilities 906,054

Shareholder's Equity:
Share capital 86,949
Share premium 26,901
General Reserve 10,000
Retained earnings 75,753
Total shareholders' equity 199,603
TOTAL $ 1,105,657


$ 31,380
60,915
86,057
809,606
29,669
1,016
$ 1,018,643



$ 798,394
13,353
15,435
827,182


86,947
26,429
10,000
68,085
191,461
$ 1,018,643


notifying the public in instances of material changes and advises that it has no plans for a share
split at this time but continues to monitor the share performance.

The Bank looks forward to a satisfactory performance in the third quarter of the year.

Our newest branch at Golden Gates continues to outperform our expectations, however our
success stems from the dedicated teamwork of every member of Commonwealth Bank staff who
strive to deliver service excellence to our customers.






T. B. Donaldson
Chairman



COMMONWEALTH BANK LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
(Expressed in Bahamian dollars) (Unaudited)


PREFERENCE SHARES
Balance at beginning and end of period


COMMON SHARES
Balance at beginning of period
Issuance of common shares
Balance at end of period

SHARE PREMIUM
Balance at beginning of period
Issuance of common shares
Balance at end of period


GENERAL RESERVE
Balance at beginning and end of period

RETAINED EARNINGS
Balance at beginning of period
Net income
Common share dividends
Preference share dividends
Balance at end of period

SHAREHOLDERS' EQUITY AT END OF PERIOD


6 months ending
June 30, 2007

$ 84,983


1,964
2
1,966


26,429
472
26,901


10,000


68,085
22,441
(11,799)
(2,974)
75,753

$ 199,603


6 months ending
June 30, 2006

$ 60,857


1,915
50
1,965


21,725
4,888
26,613


10,000


54,948
17,934
(11,723)
(2,130)
59,029

$ 158,464


See accompanying notes to unaudited interim consolidated financial statements.


COMMONWEALTH BANK LIMITED
CONSOLIDATED STATEMENT OF INCOME
(Expressed in Bahamian dollars) (Unaudited)


INCOME:
Interest income
Interest expense
Net interest income
Loan loss provision

Life assurance, net
Fees and other income


3 months ending
June 30, 2007

$ 29,647
(10,035)
19,612
(2,611)
17,001
1,154
4,458
22,613


NON-INTEREST EXPENSES:
General and administrative
Depreciation and amortization
Directors' fees

NET INCOME

Preference Share Dividends


11,165
610
39
11,814
10,799

(1,487)


NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 9,312


AVERAGE NUMBER OF COMMON SHARES
(Thousands)
EARNINGS PER SHARE (3 months)


32,772

$ 0.28


3 months ending
June 30, 2006

$ 25,412
(7,803)
17,609
(3,785)
13,824
1,247
4,018
19,089


9,329
590
43
9,962
9,127

(1,065)

$ 8,062

32,745

$ 0.25


COMMONWEALTH BANK LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
(Expressed in Bahamian dollars) (Unaudited)


CASH FLOWS FROM OPERATING ACTIVITIES:
Interest Receipts
Interest Payments
Life assurance premiums received
Life assurance claims and expenses paid
Fees and commissions received
Recoveries
Cash payments to employees and suppliers

Increase in loans receivable
Increase in deposits
Net cash from operating activities

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of Government Stock, Investments
and Treasury Bills
Interest receipts and repayment of
Government Stock and Treasury Bills
Purchases of premises and equipment
Net cash used in investing activities

CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends paid
Proceeds from Issue of common shares
Net cash used in financing activities
NET INCREASE IN CASH EQUIVALENTS
CASH EQUIVALENTS, BEGINNING OF PERIOD
CASH EQUIVALENTS, END OF PERIOD


6 months ending
June 30, 2007

$ 52,303
(19,434)
4,630
(1,722)
9,426
3,070
(18,217)
30,056
(68,637)
74,451
35,870



(49,007)

35,206
(2,260)
(16,061)


(14,773)
474
(14,299)
5,510
92,295
$ 97,805


6 months ending
June 30, 2006

$ 44,743
(14,955)
4,826
(1,346 )
8,728
3,189
(13,771 )
31,414
(68,241 )
70,704
33,877



(34,067)

30,949
(3,010)
(6,128)


(13,853)
4,938
(8,915 )
18,834
60,418
$ 79,252


COMMONWEALTH BANK LIMITED See accompanying notes to unaudited Interim consolidated financial statements.
CONSOLIDATED STATEMENT OF INCOME
(Expressed In Bahamian dollars) (Unaudited)


INCOME:
Interest income
Interest expense
Net interest income
Loan loss provision

Life assurance, net
Fees and other income


6 months ending
June 30, 2007

$ 57,933
(19,434)
38,499
(4,691)
33,808
2,365
8,625
44,798


NON-INTEREST EXPENSES:
General and administrative
Depreciation and amortization
Directors' fees


21,041
1,233
83
22,357
22,441

(2,974)


NET INCOME


Preference Share Dividends


6 months ending
June 30, 2006

$ 49,701
(14,955)
34,746
(6,859)
27,887
2,246
7,972
38,105


18,899
1,186
87
20,172
17,933


COMMONWEALTH BANK LIMITED
NOTES TO UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
SIX MONTHS ENDED JUNE 30, 2007 (EXPRESSED IN B$ '000S) (UNAUDITED)
1. ACCOUNTING POLICIES
These consolidated interim condensed financial statements have been prepared in accordance with
International Accounting Standards 34 Interim Financial Reporting. The accounting policies used In the
preparation of the interim financial statements are consistent with those used In the annual financial
statement for the year ended December 31, 2006.
The consolidated financial statements include the accounts of Commonwealth Bank Limited ("the Bank") and
its wholly owned subsidiary companies. The subsidiaries are Laurentide Insurance and Mortgage Company
Limited, C.B. Securities Ltd. and C.B. Holding Co. Ltd.
2. BUSINESS SEGMENTS
For management purposes, the Bank including its subsidiaries is organized into two major operating units -
Bank and Real Estate. The following table shows financial information by business segment:


Revenue
Bank segment External
Real Estate segment External
Real Estate segment Intersegment


Net Income
(2,130 ) Bank segment
Real Estate segment


June 30. 2007
$44,663
$135
$729


June 30. 2006
$37,978
$127
$564


$22,265
$176


NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 19,467


AVERAGE NUMBER OF COMMON SHARES
(Thousands)
EARNINGS PER SHARE (6 months)


32,772

$ 0.59


$ 15,803

32,745

$ 0.48


$17,839
. $94


3. DIVIDENDS
The Directors have approved interim quarterly dividends in the amount of 12 cents per common share (2006:
12 cents) and an extraordinary dividend of 12 cents per share. The total dividends paid as of the Interim date
is 36 cents per share for common shares (2006: 36 cents). The dividends are declared on a quarterly
calendar basis. The Interim financial statements only reflect the dividends accrued for the Interim period.


I/


i I ---AI







THE TRIBUNE


PAGF8 AR WFnNESDAY. AUGUST 1. 20u'


--0
I iiii


GR AT- U IAL IO


k.-


-From-KPMG-IManagement-To-Staff


At KPMG we focus on our people.

We are committed to training and will do our part to ensure the professional development of
our staff. The Partners and staff are therefore proud of the success of four of our team members
who passed the CPA exams.


At KPMG, we continue to improve people centered programs like the CPA Support Program
which provides moral, practical, and financial support to ensure that individual and
organizational goals are achieved. The photo shows Tracy Knowles, Senior Partner, and Diveane
Bowe, Partner, celebrating with the employees on achieving this professional milestone.

(Pictured from left to right, Diveane Bowe, Tameka King, Kasynthi Bodie, Alathea, Cunningham,
Shavonne Armbrister and Tracy Knowles)


2007. KPMG, a Bahamian partnership, and a member firm of the KPMG
International, a Swiss cooperative. All rights reserved.


network of independent member firms affiliated with KPMG


Shavonne L. Armbrister


Shavonne is the daughter of the late Ansel
and Brenda Armbrister. She is a graduate
of Queen's College High School (1997).
Shavonne received a Bachelor's Degree
of Science in Electronics Engineering
Technology in 2001 from Tampa Technical
Institute. She also successfully completed a
Masters Degree in Business Administration.
Shavonne began working at KPMG in
September 2003 and later successfully
completed the CPA examination in the State of
New Hampshire.
In June 2006, Shavonne sat and passed the
Certified Information Systems Auditor (CISA)
exam. She was awarded the designation in
June 2007.
Since 1978, the CISA exam has measured
excellence in Information System Auditing
control an security and has to be globally
recognized.


m IW es ......---
I'l"INsallI


.~1.


Kasynthi Bodie


Kasynthi Bodie is a graduate of Palm Beach
Atlantic University where she earned a
Bachelor's degree in Accounting and applied
Finance (Cum Laude) in December 2004.
She was selected to the Who's Who Among
Students in American Universities and
Colleges List in 2004 as well as the Dean's
and President List. Kasynthi also attended
the College of the Bahamas for two years.
Kasynthi successfully completed the CPA
examinations in the State of New Hampshire.
She passed her exams at the first sitting. She
joined KPMG in February 2006.
Kasynthi recently passed the Series 7 exam.
The Series 7 is administered by the New York
Stock Exchange and The National Association
of Securities Dealers in the United States.
Kasynthi wants to extend her deepest
appreciation to parents for all of their support.


Alathea Cunningham

Alathea graduated from Nassau Christian
Academy in 2001. Motivated by her passion
for Accounting and Business, she completed
a Bachelor of Science Degree in Accounting at
Clearwater Christian College in May 2005.
Alathea has been employed at KPMG since
August 2005.
On her first attempt of the Certified Public
Accounting (CPA) exam, Alathea successfully
passed all four parts.
Alathea extends her deepest appreciation to
her parents Perry and Catherine Cunningham,
her siblings Adelphus and Athena
Cunningham and her close friends Shirnae
Sweeting, Kaysa Symonette and Elizabeth
Syner.
She would like to thank the KPMG partners
and staff of KPMFG for their support.


Tameka King


Tameka graduated from The Government
High School in 2000. Determined to excel,
she enrolled at the College of the Bahamas
in 2005 and pursued a Bachelors of Business
Administration Degree In Accounting.
Continuing her academic pursuit, Tameka St.
and successfully passed the Certified PubliO
Accounting (CPA) exam. She joined KPMG
in August 2006 as an associate accountSnt.
Committed to excellence, Tameka plans to
complete the certified Fraud Examiner (CFE)
exam in July 2007.
Tameka attributes her success and
perseverance to her sister Aldeka King and
grandmother Idell Dorsette.


~\UL VY( -- r---r_l_- -- --- -_ r --1- ___ - .I