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Permanent Link: http://ufdc.ufl.edu/UF00084249/02960
 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: 8/7/2007
 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_02960
System ID: UF00084249:02960

Full Text







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Volume: 103 No.212


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BAHAMAS EDITION


TUESDAY, AUGUST 7, 2007
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* By PAUL TURNQUEST
Tribune Staff Reporter
REPAIRS recommended two
years ago on the old Paradise
Island Bridge which is the same
age as the Minneapolis bridge
involved in last week's disaster -
have yet to be carried out, it was
revealed yesterday.
The 2005 inspection led to sev-
eral suggestions which have not
yet been acted upon, it was
claimed.
Attention has been focused on
the bridge built in the late 1960s
after the PLP came to power for
the first time following last
week's dramatic collapse of the
Interstate 35 bridge at Minneapo-
lis.
The collapse of the 40-year-old
bridge on August 2 killed five peo-
ple. Seven are still missing, feared
dead, entombed in their cars under
tons of debris.
The Minneapolis structure was
opened in 1967, around the time
the first Paradise Island bridge was
officially opened by former Prime
Minister Sir Lynden Pindling.
Since the bridge's collapse, the
US Federal Transportation
Department has ordered that all
states inspect bridges with similar
designs, or at least "review inspec-
tion reports to determine if fur-
ther action is needed".
However, in the Bahamas, since
the 2005 inspection, little has been
done to repair the old Paradise
Island bridge. More disturbing is
the fact that, in the 2005 report,
no inspection was done on the
underwater supports of the struc-
ture.
This, coupled with the lack of
frequent inspections, and the lack
of a recommended weighing scale
on the Nassau side of the new Par-
adise Island bridge, has called into
question the structural integrity of


the old bridge.
Speaking with The Tribune yes-
terday, Minister of Works Mr
Earl Deveaux said that historical-
ly a bridge inspection is completed
every nine years.
While maintaining that the
bridge is still sound, the minister
said that a review of the structure
should, however, be completed
"at least" every two years.
"The public need not be con-
cerned about the integrity of the
bridge. A preliminary review of
the report and an independent
assessment confirms that with pru-
dent management, and observa-
tion of the weight limits, the bridge
continues to be safe and remains
so for many years," he said.
Mr Deveaux said that steps
have already been taken to imple-
ment the recommendations of the
2005 report and to complete the
underwater inspection of the
bridge's supports and pilings.
However, the extended periods
that vehicles spend "just sitting"
on the bridge, particularly during
afternoon rush hours, does little
to help the situation.
Reportedly, one of the attempts
made to alleviate this "sitting traf-
fic" was the recently improved
junction point at Shirley and
Mackey Streets.
However, this was only "one of
many" recommendations made
after the bridge inspection report
was completed.
As far back as July, 1998; con-
cerns were raised about the state
of the old Paradise Island bridge.
At that time, reports surfaced of a
crack in the bridge, forcing the
then Minister of Works, Tommy
Turnquest, to issue a contract to
Interbeton BV who were then
building the new Paradise Island
SEE page 16


Junkanoo

group

members

are attacked
N By KARIN HERIG
Tribune Staff Reporter
MEMBERS of the Junkanoo
groups the Saxons and the Prodi-
gal Sons from New Providence
were taken to hospital after being
attacked by a group of men in
Grand Bahama.
The three injured men Frank
Wallace, 28, and Christopher Tay-
lor, 19, both of Garden Hills,
along with Jonathan McKenzie,
16, of Nassau Village were in
Freeport to participate in the
annual "Feel the Rush" Junkanoo
parade when they were assaulted.
Witnesses claimed the incident
was gang-related and feared that
violence could cast a shadow on
the popular summer event.
According to police, a large
fight broke out during the early
hours of Sunday at the Interna-
tional Bazaar in Freeport, near
the Royal Islander Hotel.
Officers from the mobile patrol
SEE page 16


PM in office for 60th birthday Royal Oasis sale
PRIME MINISTER Hubert 'expected to
Ingraham spent his sixtieth birth-
day on Saturday working in his be concluded
office, having returned that morn- by October'
ing from a short fishing trip with b ,t


ienus inll ALaUo.
"'In the evening," he said, "I
went to dinner with my family."
Mr Ingraham took a short
break from the affairs of state
after completion of the Budget
debate last Monday by flying to
Abaco the following day to enjoy
one of his favourite pastimes -
fishing.
Having completed the Bud-
get. the House was adjourned to
October 3.


Teen killed after car

crashes into house
E By DENISE MAYCOCK
Tribune Freeport Reporter
FREEPORT A Grand Bahama teenager was killed and one family's
home was left in shambles as a result of a horrific traffic accident early Sun-
day morning at Eight Mile Rock.
The victim. Eric Forbes Jr, 19, of Roselyn Place, Balao Road, received
serious traumatic injuries at the scene and was pronounced dead on arrival
at Rand Memorial Hospital.
SEE page 16


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* By DENISE MAYCOCK
Tribune Freeport Reporter
FREEPORT The govern-
ment expects the sale of the Roy-
al Oasis Resort to be concluded
by October this year, Tourism
Minister Neko Grant has
announced.
"I believe October is the mag-
ic month as it relates to Royal
Oasis. That is the date when the
deal is expected to be consum-
mated," the minister said in
Freeport on Friday.
"I just want to reassure the
Bahamian people, and in partic-
ular. the people of Grand
Bahama. that the government of
Bahamas has got their best inter-
est at heart."
The 400-acre resort property -
which includes 900 hotel rooms, a
casino, timeshare units, and two
golf courses has been closed
since being severely damaged by
a hurricane in September, 2004.
In May, Harcourt Develop-
SEE page 16


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* THE One Family Junkanoo group filled Fox Hill with music early Monday morning as the Emancipation rush-out
took over the former slave village. Bahamians yesterday celebrated the 173rd anniversary of the abolition of slavery and
their ancestors' fight for freedom. According to folklore, Fox Hillians heard about their freedom from slavery a week
after everyone else on the island. Emancipation festivities will culminate on Fox Hill Day, August 14.
(Photo: Felipe Major/Tribune staff)


77 71777`7


, I..,. .:!I m 2 .,_ .
-j-D2 W-1 Zt .9~- -r' ~~,






THE TRIBUNE


PAGE 2. TUESDAY, AUGUST 7, 2007


-LCLNW,


Trader warns 'advantages' of OIn
Teen


TRADERS on Bay Street
claim that alleged attempts by
Atlantis to corner the entire
Nassau tourism market could
lead to a confrontation with
Kerzner International.
They say they are growing
increasingly tired of what they
see as a greedy bid by Atlantis
to create a tourism monopoly
in the capital. Some have
accused Kerzner International
of diverting trade away from
downtown Nassau as part of an
"all for me" business strategy.
This includes pre-booked
boat tours from the waterfront
which rob Bay Street of vital
cruise ship business, and an
alleged trend among Atlantis
staff to suggest that the city cen-
tre is unsafe for visitors.
Yesterday, Manoli Skan-
dalaris, a restaurateur, told The
Tribune: "Bay Street is being
treated unfairly. We are not
playing on a level playing field
(with Atlantis). We're not.deny-
ing that they put a lot of money
into a beautiful property and
all that, but we would like a lev-
el playing field here. We don't
have the authority to exclude
these drunks, crack heads, and
derelicts from downtown.


Atlantis has that right.
"Why can't we have our own
security force, along with the
police, to exclude people from
Bay Street? If Atlantis can do it,
why can't we?" he asked.
"We have guys here on the
same bus stop every day curs-
Sing, and the same bums coming
downtown every day."
Mr Skandalaris noted
instances in which he has had
to physically remove derelicts
from loitering outside the vari-
ous businesses he owns on Bay
Street, but he had no control
over the vagrants and peddlers
who wandered freely down-
town.
Mr Skandalaris also alleged
that Atlantis staff tell tourists
that the downtown area is a
dangerous place where they will
be robbed or accosted.
While he has no conclusive
proof to support this claim, he
told The Tribune that visitors
informed him of accounts where
Atlantis staff advised them of
the dangers of wandering along
Bay Street.
Ed Fields, public relations
manager at Atlantis, declined
to comment but referred The
Tribune to statements released


by George Markantonis, presi- that dictates what our staff say
dent and managing director at to our guests with respect to
Kerzner International, in June, other attractions or Bay Street.
:i"i ', in which he refuted the It is unfair to lay this claim at
claims of certain Bay Street the feet of Atlantis and their
merchants: employees, when newspapers
"We want visitors to experi- outline the problems of down-
ence all facets of Nassau, but town on a daily basis," Mr
there must be product available Markantonis added.
at a standard that is attractive to While merchants admit that
the visitor. Bay Street is in need of a clean-
"We do not have any policy up and revitalisation, many


blame the government's lack of
intervention for the problems
the downtown area is facing.
They feel the government
needs to upgrade Nassau's main
thoroughfare by ensuring it is
well-policed and free of drunks,
drug dealers and 'jonesers'.
They also feel it should
become a pedestrian precinct
during the main shopping hours,
eliminating the massive con-
tainer trucks and other vehicles
that create hazards for pedes-
trians.
"Nobody says we don't need
to improve Bay Street, we're all
trying, but you see some are try-
ing more than others," Mr
Skandalaris said.
"Our hands are tied. We can
clean our sidewalks, we can
repair our buildings, which
we've been doing but what
about the lamp-posts, what
about the streets?"
Mr Skandalaris argued the
need for an official without
political, motives who "has a
vested interest" in downtown
Nassau to act as a "mayor" for
Bay Street to ensure the area
maintains certain standards.
He said there should be a law
enforced by the government to
ensure that shop owners keep
their buildings up to a certain
standard, with fines in place for
those who violate them.
"While some Bay Street busi-
nesses are still making money,
others are not," he said. "If this
goes on, there could be a prob-
lem between Bay Street and
Atlantis. We feel that Atlantis is
granted many advantages we
don't have."

Anglicans

in Jamaica

to adopt

reggae songs

JAMAICA
Kingston

SONGS by late reggae leg-
ends Bob Marley and Peter
Tosh both devout Rastafari-
ans will be included in a new
collection of Anglican church
hymnals in Jamaica, according
to Associated Press.
Marley's "One Love" and
Tosh's "Psalm 27" will be the
first reggae tunes to appear in
songbooks alongside tradition-
al worship music on the island
that gave birth to reggae, said
church leaders preparing a new
collection of hymns.
Church spokesman Rev. Ern-
le Gordon said on Friday that
members of the Anglican
Church of Jamaica were enthu-
siastic about including the reg-
gae musicians' songs in the
hymnals, despite their some-
times vocal opposition to Chris-
tianity.
"They may have been anti-
church, but they were not anti-
God or anti-religion," Gordon
said, adding that including the
songs would help modernise
Jamaica's hymnals.
Marley and Tosh, who both
died in the 1980s after becoming
international music stars, prac-
ticed Rastafarianism, a faith
founded by descendants of
slaves in response to black
oppression.




your

news
The Tribune wants to hear
from people who are
making news in their
neighborhoods. Call us
on 322-1986 and share
your story.


brief


s are


Atlantis could lead to clash


arrested at

junkanoo

parade

FREEPORT Two
teenagers- a 14-year-old boy
and a 17-year-old girl were
arrested in separate incidents
at the 'Feel the Rush'
Junkanoo parade over the
weekend.
Police said around
10.25pm on Sunday officers
on duty at the Junkanoo
parade found a 14-year-old
male resident of Tudor Bend,
Windsor Park, in possession
of a knife.
When the young man
could not give officers a
satisfactory explanation for
having the knife, he was
arrested. The teen is expected
to be formally charged dur-
ing the next sitting of the
Juvenile Panel.
At about L15am on Mon-
day, a female inspector on
duty at the Junkanoo parade
arrested a 17-year-old female
resident of Bartlett Hill, Eight
Mile Rock, after she alleged-
ly struck a 22-year-old male
resident of Spinney Road
across the head with a Colt
.45 beer bottle.
The teen was taken into
custody at Central Police Sta-
tion and is expected to be
charged on Tuesday.

Man in
hospital
after series
of robberies
POLICE in New Provi-
dence are investigating a
spate of armed,robberies and
an attempted robbery which
have left one man in hospi-
tal suffering from serious
injuries.
Although police considered
the August holiday weekend
to have been a "relatively qui-
et" one, four people and a
store were robbed and man
was injured in an attack.
A 20-year-old man was
attacked and seriously injured
on Saturday shortly after mid-.
night in downtown Nassau.
Chief Supt Glen Miller, offi-
cer in-charge of CDU. told
The Tribune that the victim
was assaulted by "a male
known to him" while walking
on Deveaux Street at 12.14am.
The suspect demanded
cash and made a grab for his
victim's pockets after the lat-
ter refused to co-operate.
A fight ensued and during
the struggle the 20-year-old
man was struck in his left eye.
Although the victim report-
ed that he had not noticed his
assailant carrying a weapon,
the blow to his eye was seri-
ous and the 20-year-old man
had to be rushed to hospital.
He is still being treated at
Princess Margaret Hospital.
Shorly after this attack, at
around 1.41am on Sat urday, a
couple were robbed of cash
in their vehicle.
A 45-year-old man and his
30-year-old girlfriend were
near Burial Ground Corner
when they were approached
by a masked man.
The robber, armed with a
handgun, took cash and
demanded the keys to the
woman's 2003 Nissan Altima.
The robber then fled in the
stolen vehicle.
The third armed robbery to
occur on Saturday happened
at 2.50pm when a man armed
with a cutlass entered Friend's
Beauty Supply on Baillou Hill
Road and Bias Corner.
According to a report by the
store's 49-year-old cashier, the
unidentified man robbed the
store of cash and phone cards.
The suspect fled on foot.
Police are also ini'. ,li' .Il-
ing an armed robbery on
Monday at 5. 111 i
Two women, a 26-year-old
and her 15-year-old cousin,
were reportedly walking on
Blue Berry Hill in Fox Hill
when they were approached
by man armed with handgun.
The man robbed the two
women of cash and their two
Motorola cellular phones.


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THE N T Y A


OIn brief

Man critical
after being
shot and
stabbed
FREEPORT A young
man is recoveringin hospital
after being shot and stabbed
during an attack by two men
early Monday morning at the
International Bazaar.
Errol Miller Jr, 25, of 203
Queen's Cove, is detained in
stable condition at Rand
Memorial Hospital with a
gunshot injury to the arm,
and multiple stab wounds
about the body.
Chief Supt Basil Rahming,
police press liaison officer,
reported that officers
received a call around 3.48am
on Monday from the trauma
section at RMIH
He said officers at the
Police Dispatch Centre in
Freeport were informed that
a man suffering from a gun-
shot wound to his left arm
and multiple bodily stab
wounds was brought there by
private vehicle.
Police went to the hospital
and spoke with the victim.
Mr Rahming said Miller
told police he was in the park-
ing lot of the Tropicana
Nightclub in the Internation-
al Bazaar when he was
attacked by two men from
Eight Mile Rock.
He said one suspect pulled
out a handgun and shot him
in the left arm, while the oth-
er stabbed him several times
with a knife. Both men then
fled the scene.


Castro: US
materialism
threatens
humanity
* HAVANA
FIDEL Castro said Satur-
day that consumerism in the
United States, the perennial
enemy of his communist gov-
ernment, is threatening
humanity's very existence,
according to Associated Press.
Castro used the latest of his
"Reflections of the Com-
mander in Chief" columns to
lambast American capitalism,
quoting a former Russian
defense official wh6 says the
world must stand up to the
United States and its money-
grubbing ways.
"Commercial advertising
and consumerism are incom-
patible with the survival of
the species," Castro wrote in
the essay titled "Hard and
Obvious Realities" and pub-
lished in Cuba's two leading
state-controlled newspapers.


* By KARIN HERIG
Tribune Staff Reporter
THE Royal Bahamas
Defence Force cracked down
on illegal poaching this holiday
weekend, detaining 10 persons
involved in two separate fish-
ing operations which were vio-
lating the rules and regulations
of crawfish season.
Crawfish seasort has not yet
been open a week, and both
Bahamian and foreign fishers
have already been apprehended
for breaking new rules estab-
lished by the government to
protect the country's marine
resources.
In the early hours of Sunday
morning a Bahamian registered
fishing vessel carrying four
Bahamians and one South
African was apprehended by
members of the Defence Force
inside Nassau Harbour, near the
Paradise Island bridges.
The 27-foot vessel, which was
en route to the Berry Islands,
was intercepted by the Defence
Force's Harbour Unit while on


routine patrol.
After boarding and search-
ing the fishing vessel, Defence
Force officers discovered 79
crawfish and 34 conch, all
undersized.
The crew were detained and
handed over to police and the
Fisheries Department for fur-
ther processing.
Two days before this arrest,
on Friday evening, the Defence
Force intercepted another
Bahamian registered fishing
vessel, also carrying five occu-
pants, for violating the Fisheries
Resources Act.
According to reports, the
Defence Force craft P123,
under the command of leading
seaman Lucitas Greene, inter-
cepted the fishing vessel near
Memory Rock, off the coast of
Grand Bahama.
A search of the vessel
revealed an undetermined
amount of undersized crawfish
onboard.
As a result the vessel and its
crew were detained, and hand-
ed over to police in Grand


Bahama.
Crawfish season, which offi-
cially opened on August 1, runs
until March 31, 2008.
Rules set by the Department
of Fisheries and Marine
Resources include the follow-
ing:
Crawfish tails must not be
undersized and females carry-
ing eggs cannot be caught.
The crawfish are to be a
minimum of five and a half
inches.
No using of noxious chemi-
cals is allowed to aid in the cap-
ture of crawfish.
With appropriate permits,
persons are allowed to use air
compressors to aid in the har-
vesting of fisheries resources in
waters between 30 and 60 feet
deep.
Fishing outside of these
depths puts excessive fishing
pressure on the resources and
can also cause users of the appa-
ratus to be exposed to unsafe
conditions that can have a seri-
ous negative health impact over
the short and long term.


I P
7 AYSA EEaFiRYOR HOPIG ONENE*


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


Novelist's sixth book out

in time for Christmas


* JAMES Frew


A NASSAU novelist who
insists he is not a writer at all is
about to publish his sixth book
- at the age of 87.
James Frew, of South Ocean,
who says he writes "just for fun",
will see his latest title in the book-
shops just in time for Christmas.
Bahamas Apocalypse will be
issued in hardback by LMH
Publishing in November.
"I'm not really a writer," Mr
Frew told The Tribune, "I just
sit down at the typewriter ahd
never know what's going to
come out next."


sNNDRE
SCHOOL.
'87'


St. Andrews Class of

is holding a Reunion August 10th 12th, 2007.

For further info call Jonathan Pinder at 364-1231 or
jonnypow 1 @ yahoo.corn





LA CASITA
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Even so, the former wartime
pilot now has six novels to his
credit, including Apocalypse,
which he describes as another
action-packed thriller "with
most of the action here in the
Bahamas."
His publisher is also due to
reissue Bahamas Passage -
another thriller set in the islands
- next year with a new cover.
Meanwhile, an earlier book -
Volcano Santorini continues
to sell in Nassau, mostly to
tourists looking for a good
beach read.
Mr Frew, an architect by pro-
fession, began writing in his sev-
enties as a form of relaxation.
His publishers describe Apoc-
alypse as "a Christmas gift
book" which they also hope to
sell alongside the revamped
Bahamas Passage.


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Ten people held



for poaching after



RBDF crackdown


10% onf

A.SUMMER....Aln


TUESDAY, AUGUST 7, 2007, PAGE 3


THE TRIBUNE






THE TRIBUNE


PAGE 4, TUESDAY, AUGUST 7, 2007


EIOIAULTTES T-TH0EITOR


THE MORE some PLP MPs, and former
MPs, call their foot soldiers to battle on their
way to an election court, the more they confirm
the warning of Christian Council leader Bishop
John Humes that the results of the May 2 gen-
eral elections are contributing to the "lawless-
ness" in the country. The Bishop quite rightly
said that the election court challenge to the
election results has exacerbated the polarization
of the country.
This does not mean that the PLP has no
right to go to an election court if its members
believe they have been cheated at the polls. It
must be remembered that the very purpose for
such a court is to make certain that both sides
have an unbiased forum in which to air their
grievances, thus eliminating the need to settle
political differences in the streets. This means
that the complaining party quietly gathers its
evidence and with dignity presents itself before
the court.
However, the manner in which the prelimi-
naries to the court hearing are being prepared
by the PLP, unless the emotional pressure is
defused, while the major combatants are in
election court, many of their supporters, vent-
ing their anger in the streets, will probably end
up in jail.
Lawyer Philip (Brave) Davis, Cat Island
PLP MP, was surprised to hear leaders say that
the PLP was contributing to "anarchy" simply
because it was contesting the election results.
"There is nothing wrong with me saying,
'hey, I am cheated and have the evidence to
prove that you cheat' that is what election
court is all about," he said.
"I was very surprised," he continued, "to
hear leaders of our country say that we may be
contributing to crime, anarchy, and lawlessness
going on in this country because we decided to
go to a court that the constitution has ordained
that our law has said you have a complaint that
you can go to court and have it looked into."
We totally agree with Mr Davis. All con-
cerned citizens are saying is "yes, you have that
right, but it depends upon how you exercise
that right."
Many of us know the touch-and-go situa-
tion that was building from early morning until
it hit a threatening crescendo on'the day after
the election.
At 10.30pm May 2 the polls having closed
at 6pm- Prime Minister Perry Christie called
Opposition leader Hubert Ingraham and con-
ceded defeat. Mr Christie knew that he had lost
the election, and acknowledged the fact. To
have had a smooth transition of power, Gover-
nor-General Arthur Hanna should have been
notified, called Mr Ingraham to
Government House the following morning and
sworn him in as the new prime minister.
That did not happen. As is the custom, the


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various contenders met at the polling booths
the day after the election for the recount. How-
ever, with Mr Christie having conceded, this
should have in no way interfered with Mr Ingra-
ham being sworn-in.
However, nothing happened. The recounts
continued. Mr Christie was silent and so was
Government House, while Mr Ingraham waited.
But an ugly scene was building in the streets.
By afternoon rumours had started that the
recount showed that the PLP had won by a nar-
row margin. Still the chief players in this drama
remained quiet, while Mr Ingraham waited in
the wings for his cue.
The Tribune's phones never stopped ringing
- calls not only from New Providence, but
from many of the Family Islands, some report-
ing that PLPs had taken to the streets to cele-
brate the victory.
By evening the tenor of the calls changed.
People were frightened. At PLP headquarters
and other areas where celebrating PLPs were
gathering, the crowds were boisterous. Some
of them were now interfering with passersby
and vehicular traffic. FNMs reported that they
had taken to the safety of their homes. Even-
tually, the information that our news room was
receiving was so bad that one of our editors,
contacted a Bahamas Information staff member
to inform him that we had information that a
mob mentality was building in the streets, that
there were no policemen monitoring the situa-
tion, and it would be advisable for him to inform
Mr Christie so that he could tell his people that
in fact they had lost the election. Mr Christie
went to headquarters to calm the crowd. He
then addressed the nation at 10.30 that night -
24 hours after having privately conceded defeat
to Mr Ingraham. The next day the second
day after the election Mr Ingraham was
sworn in. Naturally, the PLP riding high in
hopeful jubilation the day before, were crushed
to anger when their leaders eventually told
them the truth.
Mr Davis says the PLP is exercising its right
to go to election court. No argument. However,
Golden Gates MP Shane Gibson is not going to
an election court, he is taking the people to
"war." From a podium in Freeport he told par-
ty supporters that he was there "to call all PLPs
to the front-line of war." He said "the battle was
finished on May 2, but two months later those
FNMs know that the war has now just begun."
"We are at war!" was his rallying cry.
Mr Gibson is not going to an election court,
he is preparing for an election, and a war-like
one at that. If he, and others like him, continue
with these tactics, the mob mentality will surface
and there will be trouble. This is what Bishop
Humes was warning against. We know Mr Davis
understands exactly what we are talking about
- the question is: Does Mr Gibson?'


The Tribune Limited
NULLIUSADDICTUSJURARE 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


grounds would they use to pre-
vent it? Would they bully their
way between a perfectly legiti-
mate business transaction that
included a highly respected
Bahamian family in Dupuch/Car-
ron, just because they are not sure
of their politics?
Would the PLP use their list of
"goons", shakedown artists and
con-men to intimidate The Tri-
bune whose motto is, "Being
Bound to Swear to the Dogmas of
No Master"? Did Obie Wilch-
combe think that the greedy PLP
should have been a part of the
transaction? What is really both-
ering the PLP? The more they
rant and rave, the more we see
just how retarded their game plan
really is.
I would venture to say that the
advertisers of both The Tribune
and Guardian are all sensible busi-
ness people, many of whom are
not friends of the PLP anyway.
So any boycott would be highly
ineffective. Furthermore, anyone


with common sense could see that
The Tribune would never let the
likes of Obie Wilchcombe inter-
fere with what is common knowl-
edge to be a highly successful
media empire.
Where is the monopoly? Jones
Communication Network
Bahama Journal, a reputable
newspaper has carved out its own
niche and certainly own a share of
the market. The Bahama Jour-
nal's reputation for provided con-
trasting points of view makes it
totally impossible of any monop-
oly to be possible. Any mention of
a monopoly is simply an attempt
to confuse the issue.
The game plan being used by
the PLP will backfire. Bahami-
ans. both black and white, are sim-
ply sick to their stomachs with the
"spoilt childlike behaviour" dis-
played by the PLP. We must qui-
etly show the PLP just how dis-
pleased we are. Time is longer
than rope.
Let's see which fool will fol-
low Mr Wilchcombe with this
foolishness.
IVOINE W. INGRAHAM
Nassau,
July 25, 2007


EDITOR, The Tribune.
I HAVE a God-given right to
have and express my opinion. I
am fully knowledgeable and
respect that some may differ, but
I reserve the right and will give
my opinion, regardless of what
names I am called. I always say
that "You could call me anything
you wish, but do not call me col-
lect, pay for the call". This goes
for all and sundry, the columnist,
politicians and every other Joe
Blow on the streets.
In what could be described as
the greatest case of hypocrisy the
world has ever seen, the PLP, with
none other than Obie Wilch-
combe leading the way, is crying
foul because of the recent
announcements of The Tribune
and The Guardian making a smart
business arrangement. Mr Wilch-
combe even had the unmitigated
gall to say that it was a threat to
democracy. In my opinion the
greed that is usually associated
with some of the PLP must make
them "green with envy" because
none of them could get a kick-
back from the transaction.
The blatant hypocrisy dis-
played by. Mr. Wilchcombe is
laughable, to say the least. Mr.
Wilchcombe and Fred Mitchell
presided over a ZNS that received
political instructions from their
leader Lynden Pindling in his cal-
culated effort to suppress infor-
mation from the Bahamian peo-
ple. The PLP intentionally kept
Bahamians in the dark. Where
was democracy then?
The Tribune, on the other
hand, consistently maintained the
respect of ALL Bahamians,
reporting the news fearlessly.
regardless, while still remaining
professional.
For decades, under the PLP.
ZNS controlled the news and the
lack of news the Bahamian people
would receive. ZNS in the
Bahamas was worse than Cuba's
Granma International, both guilty
of dictatorial practices. Every
Bahamian during that time
remembered how Lynden Pin-
dling used the airwaves to "brain-
wash", especially black Bahami-
ans, into believing that whites
were our enemies. Where was the
respect for democracy then?
The FNM under the leader-
ship of Hubert Alexander Ingra-
ham destroyed the PLP plan by
implementing "government in the
sunshine". He literally opened
the airwaves by granting radio
licences to many. Never in our
history could a "popper" call in
and cuss the prime minister with-
out any repercussions. Could this
have been possible under Lynden
Pindling? We all know the
answer.
The most hilarious fact is that
the PLP are saying that they
would not have okayed the merg-
er if they were in power. What


w BahamasasD

SPaint
, __ Depot Prince Charles Drive


Hulan Hanna for PM

EDITOR, The Tribune.
MY VO'E is for Hulan Hanna. not for Commissioner of Police, but
for Prime Minister.
I hear no one in leadership in this entire country speak as he does
against the enemies of society, enemies of law and order, enemies of
peace and tranquility. Everyone else it seems is prepared to grin and
bear it, to invite us generally to put up with it.
This land of ours is not at all too far from Edenic. Look about when
it rains. when the sun rises or at twilight, between sunset and nightfall.
How can we allow who is unappreciative of peace, insensitive to
beauty, to make life in The Bahamas, especially upon New Provi-
dence and in its capital, Nassau, a thing to get out of, to throw up and
spit out. Anti-social persons with their noises and misbehaviour, make
'life here so distasteful.
Hulan Hanna is the man, is the voice, which seems more than any
other, not to compromise. Is this not how we produce productive fam-
ilies, children who are model citizens? Is it not with resolve, with the
toughest possible love'? It is not at all unlike an electrician, mason, car-
penter, plumber who pulls out whatever tool is require to get the job
done, to get whatever it is he's assigned to, is working on, functioning.
Am I to feel happy to bring a wife into communities as out of con-
trol as these inner city areas, to bring children into this world in such
unsafe, insensitive places and raise them where criminals and the
criminal-minded continually have the upper hand? Where they run
things, as is said, on the street?
The behaviour on the street, in and on vehicles, along Kemp Road,
for example, leaves one to wonder what country we're in and why such
persons seem to have no one to answer to. Why it seems, is there no law
or God to fear?
Half-a-dozen Hulan Hannas, I am certain, can turn this place around,
could make me and everyone else, who is law-abiding, proud to say, "I
am a Bahamian". At present, I do not at all care to boast of this.
Jacques Chirac, mayor of Paris from 1977 to 1995, made it safe to
walk about Paris even during the night. Mayor Rudolph W Giuliani,
brought about' similar respect for law and order in New York City while
he served as mayor, 1994-2001.
Look, fellow citizens, our entire population is just above 300,000, why
therefore are things socially out of control? It could only be that who
should be fighting crime is probably instead in collusion with the crim-
inal element.
Hulan H-anna seems like, speaks like, sounds like pure water to
me. He quenches my thirst when I hear him speak. This evening on the
7 o'clock news 1 heard him and I cried. He for me is a sign of hope. It
seems he's on the side of God, on the side of good. and not like those
employed by light as well as darkness.
OBEDIAH MICHAEL SMITH
Nassau.
Julv 25. 2007.


Fear of lawlessness looms


PLP and Obie




Wiilchcombe




should be the




last to talk


B Oobcat qm>
Dahamas
Versatility Productivity Reliability
Crawford St., Oakes Field
Tel: 323-5171 Fax: 322-6969













US aid for migrant study BED BATH & HOME


* By ALISON LOWE
Tribune Staff Reporter

THE Bahamas Human Rights
Network accepted $2()()() from
the US embassy in Nassau on
Thursday to fund the produc-
tion of a documentary which
both entities hope will stimulate
a national conversation on the
plight of stateless Haitian
migrants in the Bahamas.
The donation from The
Ambassador's Fund for
Refugees is the second from
that fund to the BHRN in two
years, after a significant sum
last year helped with the start-
up costs of the fledgling organ-
isation.
According to BHRN secre-
tary, Clint Kemp, the money will
go to in the words of 18th cen-
tury abolitionist, William Wilber-
force "bring the far near", and
go some way towards closing the
"disconnect" that many say
exists between the communities.
which shows itself in the diffi-
culties many migrants, or chil-
dren born to migrants, face in
terms of their access to basic
rights.
The organisation is concerned
that there are generations of
stateless people who are being
denied rights, or experiencing
major obstacles, to furthering
their well-being for example,
through being disallowed the
right to travel outside of this
country or having to pay dou-
ble the "Bahamian" price to
attend tertiary education.
Charge d'affaires at the
embassy. Brent Hardt, noted
that it has been suggested the
short window (of opportunity
to apply for citizenship), long
waiting times, and some of the
difficult documentary require-
ments are creating a generation
of persons without citizenship
in any nation.
In the Bahamas, any child
born in this country to non-
Bahamian parents, or to a
Bahamian mother and a non-
Bahamian father, must wait
until they are 18 years old to
apply for citizenship, with there
then being only a 12-month
period immediately following
that birthday in which they can
do so.
While also recognizing that
there are many Haitians who


Embassy funds documentary on Haitian refugees


N ELSWORTH Johnson speaks while US Embassy
Charge d'atTaires Brent Hardt looks on


are living entirely illegally in this
country, president of BHRN
Elsworth Johnson stressed that
even these people are entitled to
certain basic rights: for exam-
ple, when it comes to the man-
ner in which they are dealt with
by authorities.
"As long as an individual finds
themselves on our territory
we're here to try to guarantee
them certain basic human rights
that they deserve," he said.
He added that the film is
directed at highlighting and
encouraging robust discussion
with regard to the rights of
these individuals.
Footage to be used in the
documentary has already been
gathered. A team from the
BHRN, and the company assist-
ing them in creating the pro-
gramme "Highway video" trav-
elled to the Haitian settlements
in Abaco, known as the Pigeon
Pea and The Mud, in early May.
After overcoming the initial-
ly suspicious reaction, the team
sought to encourage those with-
in the community to speak
openly about their interests.
Between the two settlements
an estimated 5,000 people are
believed to make their homes.
Both Mr Hardt and Mr
Johnson noted how, without
access to the benefits that go
with citizenship, those who may
otherwise be willing and able


to contribute to building a bet-
ter Bahamas are instead being
held back, and are increasingly
losing hope and experiencing
growing frustration.
"It not only represents a loss
for the individuals who are
trapped in the situation but I
think also for Bahamian society.
"Bahamian society often
educates people but in many
cases when they are ready to
contribute they can face insur-
mountable hurdles to doing
that," said Mr Hardt.
"It is our hope that a better
understanding of the plights of
these people will increase nation-
al understanding of this situa-
tion and hopefully stimulate a
national dialogue on how to
address the problem of stateless
individuals with a view to inte-
grating them in ways that will
allow them to contribute more to
Bahamian society." he added.
Ultimately, the organisation
aspires to have the film, which is
expected to be 30 minutes long,
broadcast on Bahamian televi-
sion channels.



FtirFi
"P s, n r


Additionally, a selection of
five minute-long clips will be
created to be disseminated
among civic and faith-based
organizations, as a focus for dis-
cussion on the issue.
Mr Kemp, who is also a pas-
tor, said that churches could be
"responding differently (and)
with more compassion" to the
debate.
He added that the organisa-
tion hopes that by "asking the
right questions" dialogue will be
forthcoming and perhaps those
with the power to institute a solu-
tion will progress in doing so.
The film will also serve to edu-
cate Haitians about human rights
issues that are within their sphere
of influence for example, about
the trafficking of women and
children to serve economic ends,
said Erin Greene, interim secre-
tary of BHRN.


..---..







S;:: V' -' ..,

..- .;



"' -," .. ..'. ," "".
..... ..r.


2007




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PAGE 6, TUESDAY, AUGUST 7, 2007


Smart is Luxury


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THE TRIBUNE




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* ROOTS Junkanoo group was out in force


r)Fu[IEmmIr


Fidelity is now inviting applications for a:
MANAGER, INFORMATION TECHNOLOGY
Reporting directly to the Group CIO, the successful candidate will have
the following minimum requirements:
Bachelor's degree in Computer Science or related field
MCSE certified
Industry certifications such as CISSP or CCNA, would be an
asset
A minimum of 5 years experience in Systems Administration
preferably in a banking or other financial institution
Past experience in a management role
Proven project management skills
Must be able to work non business houis as required
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The successful applicant will primarily be responsible for managing the
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Fax (242) 356 4189
Email:- jobs@fidelitybahamas.com


* THE Fox Hill Congos group tilled Fox Hill with music early Monday morning as the Emancipa-
tion Day rush out took over the old Slave Village


I





TUESDAY, AUGUST 7, 2007, PAGE '7


THE TRIBUNE


LOCALNEWS


Emancipation Day















group I -.
beats the


SONE
Family
Junkanoo
group
performs


* MEMBER of Parliament
for Fox Hill Fred Mitchell
enjoys the Junkanoo music
(Photos: Felipe Major/
Tribune staff)

Psychology

student

graduates

Bates College

NASSAU student Stephanie
A Nihon-Kufta was among 464
graduates to receive bachelor's
degrees from Bates College in
Lewiston, Maine. She received
a BA in psychology.
Ms Nihon-Kufta was a mem-
ber of the varsity field hockey
team throughout her time at
Bates and took part in the 2007
Mount David Summit, the col-
lege's annual celebration of stu-
dent academic achievement.
A 2003 graduate of Kent
School, she is daughter of
Claudette Nihon, of Nassau,
and David Kufta.








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


Luxury Home



Market Trends


* By JESSICA ROBERTSON


* NICK Damianos Jr, Realtor
The luxury second
home and investment
property market in The
Bahamas continues to grow
and generate economic
opportunities for Bahamians
and foreign investors alike.
With its exclusive
international global network,
Damianos Sotheby's
International Realty is
extremely well positioned to
make the right connections
for buyers and sellers and
in particular assist sellers in
understanding what
this niche market
is looking for in a
home.
The luxury real
estate market is
unique for many
reasons, one key
difference is that
when they are
looking for a
home to add to
their collection .
or an investment
to enhance their
portfolio, these buyers tend
to look much farther than
their own backyards.
"The luxury real estate
market is unique in that
most of the buyers are not
constrained by geographic
location," explains Damianos
Sotheby's International
Realty Estate Agent Nick
Damianos, "The luxury buyer
often has the option and
ability to purchase anywhere.
whether it's a villa in the
Caribbean or a ski chalet in
the Alps.
"Many buyers worldwide
are now realizing the
tremendous value that the
Bahamas offers: With
attributes such as modern
infrastructure, favourable tax
laws, tropical climate, product
quality, stable economy
and proximity to the United
States, the Bahamas provides
more for your dollar than most


S. ... ..



;Cappa ." sa Nassau, Bahamas
Cappana Lusa- Nassau, Bahamas


other luxury destinations."
And while this spells
good news for the Bahamian
market and property owners
looking to make a nice profit,
understanding the wants and
needs of this market is key to
maximizing opportunities.
Global research conducted
on a routine basis by
Sotheby's International
Realty, provides the local
real estate agents with a
distinct advantage when
it comes to servicing this


Villa de Palmas Eleuthera, Bahamas

particular client base.
Some of the key findings of
extensive research circulated
to all Si-l cl, 's International
affiliates include basic
demographic information,
including the fact that an
overwhelming majority of
those considered to be in
the market for luxury homes
are Baby Boomers who are
married. Fifty percent of
them have children and most
are high ranking business
executives or successful
entrepreneurs.
The research also provides
invaluable insight into
what they are looking for.
Typically they do not make
rash decisions to buy a luxury
home, they are looking for
larger homes (3,500-4.500
square feet) with at least four
bedrooms and three baths.
And if a seller is
considering upgrading a


property to make it more
attractive, global research
shows that a gourmet
kitchen outfitted with high-
end appliances is a sound
investment that is more than
likely to pay off.
"Understanding the client
is half the job of making a
sale," says Nick, "once we
can help a seller realize what
needs to be done to make
their home or property more
attractive to .this high end
client, or even how to position
it when marketing
Sthe property, sales
i typically happen
faster and at the
right price point."
Conversely,
k no w i ng
instinctively what
this class of buyer
wants means
agents are able to
show them just the
properties that meet
S their expectations.

Sotheby's International
Realty has established itself
as a valuable resource for
buyers and sellers in the
luxury property market, its
agents help make the right
connections and seal deals on
properties of all sizes, types
and price tags.
Damianos Sotheby's
International Realty has
offices in Nassau and Lyford
Cay, Abaco and Eleuthera,
with affiliates in Grand
Bahama and the Exuma Cays,
and markets properties of all
sizes and price points located
throughout The Bahama
islands. Their qualified team
boasts over 135 years of
combined experience, and
regularly goes the extra mile
when it comes to customer
service.
For more information log
on to www.SIRbahamas.com.


an anniversary island traders building, east bay street t 396.1100 f 396.1109 www.ct'Wt: -:'- : a; solutions@customcomputers.bs
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2 Lots 1.4 Acres $250,000 each
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Contact Ervin Knowles:
Phone: 242-393-0316
242-393-0011
Fax: 242-393-0940
Email: ervinknowles@yahoo.com
anguilla@batelnet.bs


- --






PAGE 8, TUESDAY, AUGUST 7, 2007


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insi


* By Sir Ronald Sanders
("/'I1C w 'Ilcl isa If.", ; (( (> / '\s t 'c(
ilvc \' 1d /n oi'lr ( n ib, 'i'ii
,/iplhmill)

I N Septelmbhr. he I niled
Nations General Asseci
hlv will consider ;in application
Ii,1 om laiws an lol t hC.IIIIiie ,i
of the IN and other UN Ihod-
i.s. The application will fail.
This is not the fist time IIhI
'Taiwan is applyinol to join lltc
IIN, and it won't he the f'iist
linlm tlhat it fails. The dillcrclce
now is that instead ol app;l\ ing
as the Replihic of ( hin;, the
government is dolinig ,so as Tai-
San.
Slhe government of the Peo-
ple's Republic o C('hina, which
Segards Taisan as a "province"
that miusi he reuniited wilh
ainilandinand ( a, in pposs ainy
recognition olf'l'aivan as a state.
It lias s'eccssltiillv blocked I N
illiiihbeisl ip lo I wl l an in llhe
sI).
I liwan Cl ca l util onil the sup-
Poi t onit ly I(lie \\ en\ly-I Ir
countries \\ith which it now has
diplomatic relations. And. ihat s
i(t enough to gel it bvy irst
hiase, as thle 'laiwaniese tCoreigni
Minister James -Huanltlg admits.
Of the Iwellty-foul coiintl ii s,
elc\en ate in (Central Ameiica
i'id the C('aribbenih 'le hc ive ( 'i.'
lial Anmeican colunlii s ;ie"
(uatemala, El Sal\ado,
Nicaraguia, londuras. and I'ana-
1a, and the five Caribbeanl colin
ius are: thlie Dominican Repu l
lie, Haiti, St Vincent & the
(;renadines, St. Kitts & Nevis,
and St Lucia. Belize. which is
geographically in Central A nme
ica but closely associated with
tie Caribbean, will also support
'.aiwan because (I conIsiderable
economicc assistanicc.


Minster Moor
(Black, Brown)


T'he Ulnited States will most
likely support Taiwan's appli-
cation even though its formal
and diplomatic lies are now
with China. But. that won't help
either.

Indeed, in the next year or
so, it is more likely that
Taiwan will lobe at least one
sizeable South American coun-
try that currently recognizes it
over China. Only last .luly, Cos-
ta Rica in Central America
switched its allegiance from Tai-
wan to China in the hope of
increasing trade.
Mr Huang's argument for

In the next year
or so, it is more
likely that Taiwan
will lose at least
one sizeable South
American country
that currently
recognizes it over
China.

Taiwan to be given membership
of the UN is that not to do so
would be "a clear breach" of the
1948 Universal Declaration of
Human Rights which states that
"everyone is entitled to all the
rights and freedoms set forth in
this declaration" and that "no


'I"





Minster Form
(Ebony, Birch)


Desert Trek Rusc Mast
(Black, Brown) (Black)


'""f"',' B-


Randell Burn
(Black, Tan)


Minster Buzz


Rushton
(Black)


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Rosetta St. 325-4944
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distinction shall be made on the
basis of the political, jurisdic-
tional or international status of
the country or territory to which
a person belongs."
This argument will fly with no
one, even if it is repeated by the
representatives of the countries
that rely on Taiwan for eco-
nomic assistance. China would
argue, in turn, that Taiwan is a
part of China and so are the
people who inhabit Taiwan; the
Chinese would further argue
that any recognition of Taiwan
as a state would amount to
balkanisation the formal divi-
sion of China into hostile sub-
groups and the UN has long
since turned its back on approv-
ing balkanisation of states.
But. in any event how coun-
tries vote on Taiwan's applica-
tion for membership of the UN
and UN bodies will have little
to do with the strength of legal
or political arguments and much
to do with the level of economic
assistance they receive from Chi-
na or Taiwan and the economic
benefits they regard as possible.

Last year it was reported
that St. Vincent & the
Grenadines secured a $15 mil-
lion loan for the construction
of an international airport, and
the Taiwanese announced a $14
million loan for the expansion
of the international airport in
St Kitts.
It is said that Taiwan is the
biggest single aid donor to these


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trouble with Taiwan


two Caribbean islands.
In the case of Belize. Prime
Minister Said Musa paid an offi-
cial visit to Taiw\an in April this
year, and \\when conferring tIle
Order of I)stinction on Tai-
wanese Forecign Minister Humneg
ia month later'. it waIs announced
that Beli'e had received IIS$5
million for institutional
strengthening of the govei n-
ment, $20 million for debt
restructuring, and US$5 million
for the construction of an


indoor sports complex.
Although it will make no dif-
Ilence. o the IUN vote in Sep-
ekiltr, thI Ins chequebook diplo-
macy is likely to keep Taiwan's
I cnainiin t\Lwentv-four support-
ers on side hb then.
But, the (Chinese have been
equally Ceneirous to their
(aribbean supporters, writing
off $15 million of (Guyana's debt
last month, building the Cricket
Stadia in Antigua and Grena-
da that hosted World Cup


Cricket earlier this year, pledg-
ing $112 million to Dominica
over a six-year period, and giv-
ing Grenada a grant of $0 mil-
lion.
And, it is reported that China
has set aside a $1 billion to win
support in Latin America and
the Caribbean. So, China will
continue to gnaw away at Tai-
wan's support particularly in
South America where Free
Trade Agreements are on offer.

hChina's big problem in
some Caribbean coun-
tries, particularly Barbados,
Trinidad and Tobago, and
Antigua and Barbuda, is the
resentment of local construc-
tioi firms of the competition
they are now facing from Chi-
nese companies.
Local trade union organisa-
tions have also joined the fight
saying that the playing field is
not level since high Caribbean
labour standards, including
hours of work, are not followed
by Chinese companies and, in
addition, they enjoy tax and
duty-free concessions from the
governments.
This resentment has been
experienced in Africa where
protests at the employment
practices of Chinese companies
in Zambia erupted earlier this
year. and South African Presi-
dent Thabo Mbeki last Decem-
ber warned Africa to guard
against falling into a "colonial
relationship". In the Pacific,
there have also been protests,
including attacks on Chinese
businesses, against both China
and Taiwan.
All this points to the grow-
ing urgency of some form of
treaty arrangement between
Caribbean countries and China
in particular that lays down
rules and standards for com-
peting in local markets. Without
it, resentment is sure to intensi-
Vy.
In the meantime, as Taiwan
seeks membership of the UN
in September, its one certainty
is that its generosity to the coun-
tries it supports will not help it.
Responses to: ronald-
sanders29@hotinail.com


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TUESDAY, AUGUST 7, 2007, PAGE 9


THE TRIBUNE







PAGE 10, TUESDAY, AUGUST 7, 2007 THE TRIBUNE


Former PLP candidate criticised for claiming

crime increase linked to victimisation


* By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT FNM MPs on
Grand Bahama have criticised
former PLP candidate Dr
Doswell Coakley for suggesting
that alleged political victimisa-
tion is contributing to the
increased level of crime in the
Bahamas.
Marco City MP Zhivargo
Laing, Minister of State in the
Ministry of Finance, said it is
"absurd" to link victimisation
with the murders and crime com-
mitted in the country after the
May 2 election.
Mr Laing noted that there
were 30-plus murders that
occurred during the PLP's term
in office prior to the election.
"As for the claim made by Dr
Coakley that victimisation is
leading to the crime we now


have, perhaps he will explain
what accounted for the 30-plus
murders that occurred in the
country between January and
May 2 of this year.
"Is the learned doctor sug-
gesting that those murders,
which exceeded what occurred
in the same period last year,
were due to victimisation?
"If that is so, then was not the
party for which he ran as a can-
didate in the last election in
office? Is he then saying that
their victimisation caused peo-
ple to react and therefore mur-
der?
"This kind of absurdity and
illogic is only possible where
political desperation leads to
false claims and malicious accu-
sations, and is unbecoming of
those who wish to lead in the
21st century Bahamas," Mr
Laing said.


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Mr Laing was responding to
recent allegations of victimisa-
tion by PLP protesters, who
staged a demonstration last week
at the Government OfficeCom-
plex on the Mall at Freeport.
PLP supporters Patrick
McDonald, Patrick Davis, and
Dr Coakley led the protest. The
men alleged that the FNM is vic-
timising PLPs in Freeport.
However, Mr Laing said the
FNM is not in business of vic-
timising anyone.
"The FNM is focused on mak-
ing life better in Grand Bahama.
We will use our good offices to
bring relief to the residents of
this island long neglected by the
former administration, and wpo
voted for change.
"This notion of victimisation
is foreign to (the FNM). It is a
notion to which the former
administration could speak of
well.
"And anybody interested in
trying to push this notion of vic-
timisation allegations on us, real-
ly are doing so for political pur-
poses."
FNM Senator Kay Smith, par-
liamentary secretary in the Prime
Minister's Office in Freeport,
said that leaders must be more
responsible when speaking about
victimisation.
"I find that victimisation
seems to be the word for the day.
We have to be responsible as
leaders what we are saying and
what we are perpetuating, and
the type of culture we are caus-
ing to happen as a result of what
we are saying.
"It is unfortunate that Patrick
Davis, Patrick McDonald and Dr
Doswell Coakley led a demon-
stration. It is unfortunate for
them to use people for their own
personal interest and then talk
about victimisation," she said.
Senator Smith then explained
the decision behind the recent
relocation of Mrs Bowe, a ven-
dor at the Government Office
complex.
"We made a management
decision that the area that Mrs
Bowe was initially located was.
not conducive to the environ-
ment that she was in, and so we
relocated her from outside the
front of the building to the cafe-
teria.
"We. want to help
people...and we hope she will
give the new location an oppor-
tunity and if she finds it is not
working we will work with her,"
said Mrs Smith.


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PAGE 10, TUESDAY, AUGUST 7, 2007


;~


A. w
. --,',~ ..' .. J :% t :,...
"' . ', .
:S~i.; t, ~- .


THE TRIBUNE


rlE


f

i.

r "~8%






THE TRIBUNE TUESDAY, AUGUST 7,2007,LOCPAGEEWS


Police Force band
on the march for
Emancipation Day 7..,
TH EL R,.., B.,1.,,i .,i P. ,IKi... I .. b.,,dL
ti In D .) \ IL .I'\ i, II ,, I lill i.. ii .i '
( /P */, /, ,, / ''/ ,, / . /, 1 'I / ,-; "ii "^w f- ,' .i ~ i ^ ^




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TUESDAY, AUGUST 7, 2007, PAGE 11


THE TRIBUNE


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THE TRIBUNE




Britain's Brown pledges tough

Section to combat foot-and-mouth


M LONDON
PRIMEl Minister Gordon Brown
oin Mlodli\ l toured an emergency
Ic spolls cCenelcr set up to deal with
.in iotbiteak it loot-and-mouth dis-
clec iln southecrn England and reas-
sured lhr Iners the government was
lakin"e swift measures to stem the


spread of the virus, according to
Associated Press.
The European Union endorsed
Britain's decision to ban meat and
dairy exports.
Brown, who came back early
from vacation to handle the gov-
ernment's response to the outbreak,
held talks at his London office with


NT ER N AT 1 O N Ai L
->.. = "a. ,,^'^ .*'*'a --,. ., )- ,,& .-' .;. '4 .'i ,i't.


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I *l'
JJ~1J~4~i~~,~m/ij1rK~diIIM~I; '~'i-


AUGUST 12th-16th


Bishop Simeon Hall Dr. Jay Simms Dr. Rick Dean


&,, ** .-' .'
-,; v-,'
.+' !- .:
'*;


Dr. Richard Pinder Dr Marr Chirnrnc


.'-. .'.i rJ. Rev. John Smith


Bishop Gary Mclntosh


Dr. Walter Koch


Pas Ebener ic
Acillk-a:


Dr. Marin Williams


:,The Diplomat Center Nassau, Bahamas
j,i 4w6 www.bfmmm.com

.461-6442 461-6445


I. tuLi~:


SW.


F-' --


zz


SEV CsLa.HTIN GGRCew
Sc-lt4 Fr'm-tfa V.'


ENVIRONMENTAL MANAGER
*\ de'v\opmient company is seeking to lill the position of
Environ mental Manager.

K'e.sponsib)ilit is (.of the post include:
* ( )\.irsight ,io the implementation of the Environnmental
Mana.geiment Plan (EMP');
* !Tianillg of (other staff in project-related environmental
i'iues arid heir responsibilities under the EMP;
* Rheglar report preparation as required under the EMP:
* Moitolring and( data collection, both terrestrial and
a rinc:.

KNOWLEDGE/SKILLS:
* Miniilllult qu(alification 01 a Hacihelors degree in a
ilnaural science \wilh a minilmuml of 3 years related
exlperiencei: Master's degree is preferred.
* F xccllent verbal and written communication skills.
* od imanageIment and organizational skills.
* I )etiil-oriented
,' ,,I to lmanil)ulate, analyze and interpret -, ie ili,
i na.
* Proven project and environmental management skills.

WORKING CONDITIONS/PHYSICAL EFFORT:
* At least 50%b of the working day will be spent
outdoors, gathering field data and monitoring project
lti\ ilites during construction and operation.
Ai sik \\ ill oten involve physical effort, including
,ill l. throutlgh dense vegetation and scuba-diving to
monitor coral rcels.
S .ii di 10 handle lthe requirements of this position.
liiercsted persons should apply in writing with cover
leleri resume andl at least 2 references to SEV Consulting,
3(, (,ueen Street, P.O Box N 1416,. Nassau, The Bahamas
i\ \ugust 151', 2007. Candidates that wish to hand deliver
their applications can e-mail hmiubrit.:a's( jnM( _.tmy".in lmfor
dir actions. Saltary will be commensurate wihi qualifications
and i experience.


I


Doaid Ceiullo


'~''
'd ill


farming union leaders and pledged
to do everything possible to avoid a
repeat of mass infections that dev-
astated the economy in 2001.
"No resources will be spared to
get to the bottom of this because we
know the future of farming depends
on it," he said during a visit to the
emergency response center in
Reigate.
He said experts were working to
pinpoint the precise cause of the
outbreak, but added that the strain
of the disease found in two infected
cattle at the farm where the out-
break occurred is the same one
used at a research laboratory near-
by.
The laboratory is shared by the
government's Institute for Animal
Health, or IAH, and a private phar-
maceutical company, Merial Ani-
mal Health the British arm of
Duluth, Ga.-based Merial Ltd.
Merial said Monday it found no
evidence of a breach in bipsecurity,
and the IAH claimed a check of
records found "limited use" of the
virus in the past four weeks.
Environment Secretary Hilary
Benn said a report by the country's
Health and Safety Executive
inspectors is expected within 48
hours.
"We have got to make sure this
doesn't spread any further," Benn
told British Broadcasting Corp.
radio, recalling the last foot-and-
mouth outbreak in 2001 when 7
million animals were incinerated
on pyres across the country, hurting
the agriculture industry and rural
tourism.
Veterinary experts matched the
strain found last week in cattle on a
farm outside Wanborough, 30 miles
southwest of London, to the labo-
ratory, which manufactures vac-
cines against the disease.
But Merial Animal Health's
managing director, David Biland,
said Monday that
initial
inquiries
h a d
shown
there r '
had
been no
failure
in secti-
the pla:i ,





0 PRIME Minister Gordon Brown
(AP Photo)


Wota


J i






TUESDAY, AUGUST 7, 2007, PAGE 13


THE TRIBUNE


Hugo Chavez accuses


Washington of undermining


Venezuela's Mercosur bid


* CARACAS, Venezuela
THF: United States is under-
mining Venezuela's bid to enter
the South American trade bloc
Mercosur, President Hugo
Chavez said Sunday, according to
Associated Press.
Chavez complained that law-
makers in Brazil and Paraguay
have unnecessarily delayed a vote
to ratify Venezuela as a member
of Mercosur even after the lead-
ers of those countries along with
the legislatures in Argentina and
Uruguay already signed off on
it.
He praised Brazilian President
Luiz Inacio Lula da Silva and
Argentine President Nestor
Kirchner for urging the quick
approval of Venezuela's mem-
bership, saying they had defied
U.S. pressure aimed at isolating
Venezuela.
"Why can't Venezuela enter
Mercosur? The order comes from
Washington," said Chavez, speak-
ing during his weekly television
and radio program "Hello Presi-
dent."
The Venezuelan leader a
close ally of Cuban leader Fidel
Castro sees Mercosur as a way
for South American nations to
unite against U.S. economic and
political influence in the region.
Chavez backtracked on his
recent warning that Venezuela
could withdraw its bid to enter
the trade bloc if Brazilian and
Paraguayan lawmakers fail to
approve Venezuela's entry before
September.
"I didn't give anybody an ulti-
matum," he said. "I only said that
more than a year has passed and
there is no answer, that we have
our schedule."
Chavez also said he plans to
leave Monday on a tour of
Argentina, Uruguay, Bolivia and
Ecuador. Since taking office in
1999, Chavez has forged'strong
ties with Latin American coun-
tries while distancing Venezuela
from the United States.
The Venezuelan president said
he'd like to meet with Colombian
rebel leaders to discuss ways to
end the neighboring country's
decades-long armed conflict
involving leftist insurgents, right-
wing paramilitaries and govern-
ment troops.


"I believe a political conversa-
tion with the guerrilla leaders
could be of much help." Chavez
said.
It wasn't immediately clear if
Chavez was offering to host peace
talks. He said Colombian officials
have shown little interest in the
possibility of involving Venezuela
in such conversations.
There are deep ideological dif-
ferences between Chavez and
Colombia's U.S.-allied President
Alvaro Uribe. Both leaders, how-
ever, have worked to maintain
cooperative relations between
their countries, which are bound
by trade and concerns about secu-
rity along a border frequented by
rebels, paramilitary fighters and
drug traffickers.
VENEZUELAN
President Hugo Chavez
(AP Photo)


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BAHAMAS ELECTRICITY CORPORATION

VACANCY NOTICE I

The Bahamas Electricity Corporation (BEC) invites applications from suitably qualified persons to fill the
position of ASSISTANT GENERAL MANAGER HUMAN RESOURCES AND TRAINING. The successful
candidate will report directly to the General Manager.
QUALIFICATIONS:
Candidates must have:
a minimum of 15 years relevant professional experience at senior management level
a track record of success in leadership and management
an advanced degree in a field relevant to managing human resources or a combination of undergraduate degree
and experience.
excellent communication skills, conflict resolution and negotiation skills and demonstrate the ability to interact
comfortably with and effectively manage people
significant experience and success working in a large complex organization with diverse employees
OVERVIEW AND OBJECTIVES:
The successful candidate will be responsible for understanding the human capital needs of the Corporation and
how to optimize the human resource value provided to the organization. The objectives include:
* Preparing the current workforce for success in a cost-effecil e manner
* Anticipating and fulfilling the shown and long term human resource needs of BEC
* Devising, planning and implementing HR strategies that will amact, develop and retain a qualified workforce,
which will result in the achieement of the overall business objectives of BEC.
Effectively communicating the vision of BEC both internally and externally
KEY ACCOUNTABILITIES:
* Develop and maintain employee records, in a confidential manner, that include all information necessary to
support the training, manpower planning, succession planning, compensation, benefits, and performance
evaluation programs for BEC
Manage employee training to support business productivity and continuity
Administer employee benefits in a cost-effective manner
Provide employee relation services to keep the workforce productive and motivated
Develop and maintain the manpower plan and succession plan
a Assist the organization with employee needs analysis and recruitment
Monitor the implementation of collective bargaining agreements, including reviewing recommendations for
engagements, promotions, transfers, discipline, dismissals
Assist the Labor Compliance Officer in industrial relations matters and participate in the collective
bargaining process
Create and manage BEC's public relations program and improve the impression of BEC with customers,
investors, and governmental authorities
Effectively communicate the mission and actions of BEC to all employees
Establish and maintain corporate policies and procedures relating to human resource management and
monitor compliance
Develop relationships with key external constituents, including the media, to ensure a positive message about
BEC is conveyed to the public
Develop, challenge, and evaluate subordinates
Communicate effectively with superiors, subordinates, and peers
APPLICATIONS along with resumes should be addressed to:
The General Manager
Executive Offices
BAHAMAS ELECTRICITY CORPORATION
Blue Hill & Tucker Road
NASSAU, BAHAMAS
and marked
"Assistant General Manager-Human Resources & Training"
PRIVATE & CONFIDENTIAL
Applications must arrive at the General Managers office no later than 4:00 pm Friday. 10th August 2007


years, and analysts say fliers can
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* WASHINGTON
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* Underwritten by Lloyd's of London

(A+ rated for claims paying ability).


* Worldwide Emergency Coverage

including the USA & The Bahamas.


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Affordable Premiums paid

monthly, half-yearly or annually

by credit card.


80% of first $5,000 and 100%

thereafter, subject to coverage
benefits and deductible.


STAR


General


IN NASSAU CALL

393-5529


IN FREEPORT CALL

350-7827


The American Embassy is presently considering
applications for the following position:

PROCUREMENT CLERK
Serves in a mixed position with 90% of duties as
Procurement Clerk and 10% as a Mail Room Clerk.
This position is open to candidates with the following
qualifications:
A high school diploma
Two years of administrative/clerical skills.
Must have a good working knowledge of
Microsoft
Word; Excel; database maintenance and
standard office routines and practices.

PERSONAL ATTRIBUTES:
Must have excellent customer service skills
and highly developed management and
organization skills.

BENEFITS PROVIDED INCLUDE:
The successful candidate will be offered an
excellent compensation package. including
performance-based incentives, medical and
dental insurance, life insurance, pension, and
opportunities for training and development.

Applicants must be Bahamian citizens or U.S.
citizens who are eligible for employment under
Bahamian laws and regulations.

Applications forms are available from 8:00 a.m. to
5:00 p.m. Monday through Friday at the security area
of the American Embassy, Queen Street. Completed
applications should be returned to the Embassy;
addressed to the Human Resources Office no later
than Thursday, August 16, 2007.


LLOYD'S




iWfin S MrIAcii


IN ABACO CALL
ABACO INSURANCE AGENCY

367-5285


The U.S. Department of
Transportation on Monday said
the industry's on-time perfor-
mance in the first six months of
the year was its worst since
1995, the earliest period for
which the agency has compara-
ble data. In June, nearly a third
of domestic flights on major
U.S. airlines were late.
Part of the explanation for the
worsening delays is that demand
for air travel is rising, both on
major airlines and on smaller
regional carriers. In addition,
the government said weather-
related delays in June were up 7
percent from a year ago.
Reports of mishandled bag-
gage and complaints filed with
the government also rose.
Airline consultant Robert
Mann said U.S. carriers
improved their financial health
in recent years by relying more
on small 40-80 seat jets that are
easier to fill up, and can be more
profitable because there are
fewer empty seats. However,
this strategy also leads to more
crowded skies and runways in a
system "that was already satu-
rated," Mann said.
Regional carriers served 155.7
million passengers last year, up
38 percent from 2003 levels,
according to the Washington-
based Regional Airline Associ-
ation.
For June, U.S. airlines' on-
time arrival rate was just above
68 percent, compared with
roughly 73 percent a year earli-
er, according to Department of
Transportation data.
So far in 2007, nearly 25 per-
cent of flights on the 20 largest
carriers have arrived late, the
agency said.
Travelers on Skywest Inc.'s
Atlantic Southeast Airlines, a
regional carrier for Delta Air
Lines Inc., had it worst in June,
as about 56 percent of flights
arrived on time. AMR Corp.'s
American Airlines was barely
better, with an on-time arrival
rate of about 58 percent. US
Airways Group Inc. had an on-
time rate of about 62 percent.
The airline industry blames
the increased delays on a lack
of a modern satellite-based air
traffic control system, combined
with increasing demand.
"We're not surprised by the
numbers," said David Castel-
veter, a spokesman for the Air
Transport Association, the air-
lines' trade group. "We have
been saying for some time: It's
going to get worse before it gets
better."


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


THE TRIBUNE


PAGE 14, TUESDAY, AUGUST 7, 2007


E r
..


f
ii r
iairti:.~;- '






., u/t, PAGE 15


THE TRIBUNE

M ^^^ i~i^- 11111 niiii 1 iiiii


New guide highlights biodiversi


A NEW guide for Bahamian
educators in teaching marine
hio-diversity has been complet-
ed with the help of contribu-
tions by the Bahamas National
Trust, the Ministry of Educa-
tion and the American Muse-
um of Natural History Centre.
The new teachers' resource.
entitled Treasures in the Sea:
Our Bahamian Marine
Resources, was presented to
Minister of Education Carl
Bethel at the conclusion of a
three-day workshop in which
28 teachers were introduced to
the new guide.
The guide complements the
Ministry of Education's cur-
riculum guidelines for grades 3-
6, though many activities may
be adapted for other levels in
both formal and informal set-
tings.
"The BNT has worked with
Bahamian educators for over
20 years and is delighted to have
worked in collaboration with
the American Museum of Nat-







I r


* CARL Bethel


ural History and the Ministry
of Education to produce this
resource, which will assist
Bahamian educators in effec-





w K E


tively teaching marine bio-
diversity and engaging students
in conservation," said Lynn
Gape. deputy executive director
for the 'Trust.
Marine hio-diversity the
variety of life found in oceans,
coastal waters, and estuaries is
an ideal topic for interdiscipli-
nary studies, touching on sci-
ence, social studies, language
arts, mathematics, and the cre-
ative arts.
Treasures in the Sea created
in a three-year partnership
between the Bahamras National
Trust, the Ministry of Educa-
tion and the American Muse-
um of Natural History's Centre
- introduces marine conserva-
tion concepts by focusing on
some of the Bahamas' more
important marine species, such
as the Nassau grouper, Queen
Conch, and crawfish.
The idea is that these species
will help students understand
life cycles, critical habitats, cul-
tural and economic connections,





uLI1


Try our New

Sausage & Egg


Blurrito


*1Y


and the urgency of conserva-
tion and management.
The core team for production
of ihe hook was led by Mrs
Gape along with Meg Dom-
rocse and Christine Engels of
the American Museum of Nat-
ural History's Centre for Bio-
logical Diversity. Monique
Sweeting, independent consul-
tant. and Portia Sweeting, pri-
- _"-.


'l


mary science education co-ordi-
nator for the Ministry of Edu-
cation. Youth Sports and Cul-
l Iue.
Science curriculum planners
for the Ministry of Education
Ronique Curry, Barbara
Dorsctt, Shericce Lightbourne-
Edc\ards. Joan Knowles, and
Dorothy Rolle were also instru-
mental in creating the guide.


Further assistance was pro-
vided by Beverly Taylor, assis-
tant director of education.
The project was supported by
Lynette and Richard Jaffe, the
Tiffany Foundation, National
Science Foundation, Colina
Imperial Insurance Ltd, and the
Bahamas Reef Environment
Educational Foundation
(BREEF).


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PAGE 16, TUESDAY, AUGUST 7, 2007


THE TRIBUNE


Royal Oasis sale 'expected





to be concluded by October'


iA .


Sir Nicholas Nuttall
On Iuly 29, 200T)7 fhc Bahamn lost a dedicated conseit ationist, SIir
Nicholas Nuttall.
Since coming to The Bahamas., ir Nick was a true .on of the s.a,
diving and enIo\ ing the marine en\ ironment. and later becoming
concerned about its future. Life experience taught him that people
become interested in consent atioln especially it ouL food supply is
impacted. He founded The Bahamas Reef Enviionment Educational
Foundation IBREEFI in 1993 and immediately created a leadingg
non-governmental environmentaJ organization. BR-E F is dedicated
to providing opportunities for educator- to learn and experience
the marine en\ ironment, anrd encouraging decision maker. to enact
stronger legislation to support sustainable userof our marine
resources.
It is perhaps in the area of education that The Bahamas wdll continue
to reap the benefits of Sir Nick s passion for the marine environment.
BREEF's marine conservation teacher training w.ol kshops ha\e
provided teachers throughout The Bahamas \ith an unparalleled
experience in learning about the marine environment. These students
of the BR EEF teacher. t, ill gro\\ up i \%th an appreciation ot the
Bahamas' marine en ironment and the knoi ledge to become
environmental stewards :of our mai ne biodiveisity.
Sir Nicholas kne\, that the ocean's resources were not unlimited.
He knew that \\e risk losing these ic sou iesI if we damage the mal me
en\ ironment using harmful fishing, boating or di\ ing practices. He
preached that our shorelines could be damaged beyond repair it
we allow uncontrolled coastal development. As a result of his efforts
Bahamian. are more knowledgeable and can make wise decisions
about the use of our natural resources.
Sir Nick was joined by many scientists and conservationilsts in his
plea to -,ave the Nassau Grouper, and it is without dispute that his
voice was the most persistent, relentless and fearless in pursuit of
the conservation of this iconic natural re-,owce. Fishermen har eating
grouper in the future will owe a huge debt of gratitude to one who
passed this way and advocated for their protection.
The Council and Staff of the Bahamas National Trust extend our
deepest sympathy to his family and to the members. staff and
volunteers of BREEF at rhis difficult time.
The heart can think of no itde'otion -
Greater than being shore to the ocean....
Robert Frost "Devotion


FROM page one

ment Company announced that
it had entered a contract for the
sale of the resort.
The closure has caused great
economic hardship in Freeport,
where some 1,000 Bahamians
were laid off.
Tourist arrivals to the island
were also significantly affected
due to the loss of one-third of its
hotel room inventory at Royal
Oasis.
In recent weeks former
employees of the resort have
been seeking the $1.2 million still
owed them in redundancy pay-
ments.
Zhivargo Laing, Minister of
State in the Ministry of Finance,
said there was no arrangement
left in place by the previous
administration concerning the pay
of those workers who lost their
jobs at Royal Oasis.
"There was nothing in the
arrangement from the sale of the

Teen killed

FROM page one

Chief Supt Basil Rahming, police
press liaison officer, reported that
Forbes' death is the third traffic
fatality for the year on the island.
According to Mr Rahming,
Forbes was driving his brown 2006
Santa Fe Jeep, licensed 37110, east
along Queen's Highway in Hanna
Hill around 5.30am when the acci-
dent occurred.
It is believed that, while travelling
at a fast speed near the Hanna Hill
Church of God, Forbes tried to
overtake a black Dodge Neon,
license 41484, driven by Ms Janice
Tatem, 36, of Holmes Rock.
The jeep collided with the rear
right fender of Ms Tatem's vehicle,
which went out of control.
Upon impact, Forbes' jeep went
off the road, crashed into a mound
of dirt and was catapulted into a
house owned by Jude Grant of Han-
na Hill.
Supt Rahming said the jeep land-
ed in the front room of the house,
where Mr Grant's daughter was
watching television at the time.
Fortunately, she escaped serious
injury, receiving only minor cuts
from flying debris and broken glass.
The jeep was destroyed. Forbes
was trapped in the wreckage and
was extricated by firemen using the
'Jaws of Life'. He was pronounced
dead at the hospital.
Linda Bowleg, a 24-year-old pas-
senger in the Dodge Neon, was also
taken to hospital, where she was
treated for minor injuries and dis-
charged.
Grand Bahama police are urging
motorists to exercise care and cau-
tion on the roads.


* TOURISM Minister
Neko Grant


Royal Oasis property no evi-
dence could be found that any
arrangement was made for the
pay of those workers, he said.
"The agreement for sale that
the former administration left in


FROM page one

division arrived at.the scene at
3.20am and found three
Junkanoo participants from Nas-
sau with "various bodily injuries."
The three men told police that
they had sustained the injuries
during an altercation with a group
of local male residents unknown
to them.
They reported that the fight
began at Le Tropics nightclub and
continued on to the driveway in
front of the Royal Islander Hotel.
The assailants fled before
police were able to apprehend
them.
The injured men were taken to
Rand Memorial Hospital where
they were treated for their
injuries and later discharged.
Speaking with The Tribune yes-
terday, Peter Adderley, who was
instrumental in creating the "Feel


place made no provision foi the
pay of the first set of workeqipr
the second set of workers that
lost their jobs at Royal Oasis."
In May, 2005, former workers
signed a deed of assignment with
the government which paid, .pt
some $5 million in redundancy
payments to them.
Those employees who earned
$10,000 or less per year received
all their money, while those who
earned $11,000 and over per
year, were paid half of their mon-
ey.
However, Harcourt has stated
that it would not be responsible
for any past debts amassed by the
previous owners, or other coma
panies previously involved with
the Royal Oasis.
Mr Laing said that negotia-
tions with respect to Royal Oasis
are continuing.
Questioned about the pay
issue, he said: "That is one of the
things that is under consideration
but that can only flow in relation
to the closing of this deal."


Junanoo group
the Rush" parade, said that he
hopes that this incident does not
"put a stain on Junkanoo in
Grand Bahama."
"There is no place for violence
in Junkanoo," he said.
Mr Adderley, who has severed
all ties with the parade's organis-
ers, the C-Cube company, said
that he is "saddened by wlat
'Feel the Rush' has become."
He explained that because of
the high ticket prices, the limited
number of Junkanoo groups
allowed in the event, and treat-
ment of vendors, he has created
his own parade named "Just
Rush", which was held for the
first time this June.
Mr Adderley said he wishes the
three injured men a speedy recov-
ery.


Ljjnlis .r"lFtJyriny
;CI.hotai frmn 'Wirlut Fua, Flad'rT:t, Chirry,
Bithi, or tiillb1uo
Prlcess darling aa 71.31 3tl it


Man airlifted after


traffic accident


* By PAUL TURNQUEST,
Tribune Staff Reporter
A SERIOUS traffic accident
on Sunday in Grand Bahama
resulted in four cars being dam-
aged and a man being airlifted
to New Providence for medical
treatment.
Around 10.15am, 35-year-old
Ishmael Thompson, of 508
Hawaii Avenue, was travelling
east on Pioneer's Way in a green
1996 Toyota Windom, said
police.
John Grant, 33, was travelling
north on East Atlantic in a white
1995 Toyota Corolla, they added.
As a result, the Corolla collid-
ed with the Windom, pushing it
into two other cars parked "well
off the road" at Christ the King
Anglican Church.
The two damaged cars have
been identified as a red 1996
Jeep Cherokee registered to
Annette Parker and a car regis-
tered to the Attorney General's
Office, which was parked by the
Tribunal judge Mrs Jetlyn Bur-
rows.
According to a report from
Chief Supt Basil Rahming, Mr
Grant was ejected from his vehi-
cle on impact. It is believed this
is how he sustained "multiple
severe injuries".
Grant was taken to Rand
Memorial Hospital where
Thompson was treated and later
discharged, while Grant was
detained and later airlifted to
Princess Margaret Hospital.
Mr Rahming said police are
investigating.


(i


PI Bridge repairs

FROM page one
bridge to carry out an inspection of the existing structure.
At that time, Mr Turnquest admitted that the government knew
that some work had to be done to the bridge, adding: "We just don't
know the extent to which it has to be done."
In 1998, the weight restriction of the old bridge was 15 tons. How-
ever, the weight restriction of the new bridge far exceeded that of the
old, at 25 tons.
According to Ministry of Works officials, this is where the main
concern is created. Heavy load vehicles such as cranes, cement trucks
etc., are capable of passing over the new bridge.
However, attempting the same on the old structure could cause a
major concern especially if these vehicles were carrying any sort of
"substantial load".
In May, 2005, former Minister of Works Mr Bradley Roberts said
the company Paul Hanna and Associates was carrying out inspections
of the base of the pillars that support the bridge, and the carriageway
itself.
In 2006, he reported that an estimated $8.5 million worth of repair
work would soon be sent to tender on both bridges. The engineering
report, Mr Roberts advised then, said that "both bridges were in fair-
ly good condition."
However, a priority ranking of the necessary repairs to each of the
bridges has been identified for speedy attention.


FUEL SURCHARGE 2006 2007
.13
12.1970c



11_


110 1894 1.863Wl9.7379 1y 10.6988b 10.8217 s
9.6735(L- 9. 10.18720
9.9140 90 10.3676
-9 9.7t
9.31280 9.29010







5 6



Your electricity bill is made
4 up tup ofthe basic rate, which is
constant and has not
3 changedsince0ober203,
andtefuel surchate, ich
2 is based on the price of
pebeIu in the international
1_market and is calculated
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC moringusingafixdf


- F--


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5th,'r/rarince CntsriJlIe

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=-uluh il@ iruo rblr~fLirnliiluray^


T ___ .







TUESDAY, AUGUST 7, 2007


- i u' t imm


SECTION


business@tri,,,,,e,,a.net Miami Herald Business, Stocks, Analysis, Wall Street


HELPING YOU CREATE AND MANAGE WEALTH

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


BISX 'main beneficiary' from




public sector securities listing


Government still assessing key step for capital markets, but uncertain on benefits for itself


* By NEIL HARTNELL
Tribune Business Editor
T he Bahamas
International
Securities
E x c h a ng e
(BISX). rather
than the Government, will be
the prime beneficiary from any
listing and trading of public
debt securities on the
exchange, a Cabinet minister
told The Tribune, implying
that the administration is
unsure what it will get from a
move seen as key fori the


Bahamian capital markets.
Zhivargo Laing, minister of
state for finance, said the listing
and trading of all government
debt securities on BISX -
chiefly government-registered
stock and Treasury Bills was
still "a matter under consider-
ation" with no indication as to
when a decision will be made.
Mr Laing said he "couldn't
say" whether the Government
had any reservations about the
proposal for the government
paper securities market, which
has been worked on by BISX,
the Central Bank of the


M ZHIVARGO LAING


N KEITH DAVIES


Bahamas and public sector for
some two-and-a-half years.
"It's just a matter under con-
sideration," Mr Laing said. "I
think the Government needs
to be fully appraised of the
whole thing. It's just a matter
that has to be given the Gov-
ernment's attention in terms
of review."
He added: "I think the pri-
mary benefits [from the listing
of government debt] will go to
the exchange itself. For the
most part, something like that
will provide the exchange with
a new source of business and


improve its depth, the further
viability of BISX being anoth-
er benefit of that."
Mr Laing's comments indi-
cate that, while no decision has
been taken, the Government
must first be convinced that it
and the wider economy/capi-
tal markets will benefit from
the listing and trading of gov-
ernment debt securities on
BISX.
Outstanding central govern-
ment debt issues amount to

SEE page 8


$6.9m tax write-offs

boost Bahamas profit


* By NEIL HARTNELL
Tribune Business Editor
THE Our Lucaya casino's
2007 fourth quarter and full-
year financial results enjoyed
an immediate boost from the
$6.9 million gaming tax write-

SEE page 16


Gaming operator's
profit more than
doubles despite
34 per cent
revenue decline


Food price increases to 'last at least until autumn'


SBy NEIL HARTNELL-
Tribune Business Editor
FOOD prices facing Bahamian con-
sumers "will continue to rise at least until
the autumn", a major supermarket chain's
chief executive told The Tribune, with
tuna prices likely to increase by 10 per
cent and other staple food products also
experiencing major cost increases global-
ly.
Bahamas Supermarkets, owner and
operator of the 12-store City Markets
chain inr New Providence and Grand


Tuna prices could rise 10 per cent, as food chain
says electricity bill up $lm over previous year


Bahama, released letters it had received
from wholesalers and food manufactur-
ers warning about the forces at work that
were pushing up the price of basic food
stuffs on the global market a develop-
ment that will eventually feed through
into higher food prices for Bahamian shop-
pers.


Warning that "the price of tuna could
see a 10 per cent increase", Bahamas
Supermarkets passed on a memorandum
on the issue that it had received from an
unnamed Bahamas-based wholesaler.

SEE page 6


Hotel room revenues

down 5.5 per cent


* By NEIL HARTNELL
Tribune Business Editor
ROOM revenues at major
Bahamian resort properties
declined by an average of 5.5
per cent during the 2007 first
quarter, the Central Bank of
the Bahamas reported yester-
day, providing further evidence
that the nation's tourism indus-


Central Bank
tone on economy
less optimistic

try is currently on a downward

SEE page 12


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PAGE 2B, TUESDAY, AUGUST 7, 2007


THE TRIBUNE


* By Fidelity Capital
Markets

MODERATE trading activ-
ity took place in the Bahamian
market this past week as 34,981
shares changed hands. The
market saw nine out of its 19
listed stocks trade, of
which four advanced, one
declined and four remained
unchanged.
Volume leader for the week


was Cable Bahamas (CAB)
with 14,140 shares changing
hands, accounting for 40.42 per
cent of the total shares trad-
ed. The big advancer for the
week was Consolidated Water
Company BDR (CWCB). up
$1.02 or 17.2 per cent to close
at a new 52-week high of
$6.95.
On the down side, Abaco
Markets (AML) dropped $0.06
or 3.61 per cent to close the


week at $1.60.
For the week, the FINDEX
gained 0.72 points, to close at
834.63.

COMPANY NEWS

Focol Holdings (FCL) For
the quarter ending April 30,
2007. FCL posted net income
of $9.2 million, which repre-
sents an increase of $476,000
or 5.45 per cent over the same
period last fear. Net income
attributable to common share-
holders was $8.4 million versus
$8.7 million in 2006.
Revenues increased by $76
million or 63 per cent to total
$197.6 million, while cost of
sales grew by $68 million or 67
per cent to total $168.5 million.
Gross profit margin decreased
by 2 per cent to 14.7 per cent,
compared to 16.7 per cent in
the 2006 third quarter. As at
April 30, 2007, earnings per
share declined by $0.04 to
$0.98, while dividends per share
increased by $0.02 to $0.41 ver-
sus $0.39 in the 2006 third quar-
ter.

Commonwealth Bank
(CBL) For the 2007 second


quarter, CBL posted net
income to common sharehold-
ers of $9.3 million, representing
an increase of $1.3 million or
15.5 per cent over the $8.1 mil-
lion achieved in the 2006 sec-
ond quarter.
Interest income grew by $4.2
million to total $29.6 million,
while interest expense
increased by $2.2 million to
total $10 million. Net interest
income increased by $2 million
or 11.4 per cent to total $19.6
million.
Non-interest expenses also
increased in the 2007 second
quarter by $1.8 million to total
$11.8 million, versus $9.9 mil-
lion in the 2006 sceond quarter.
Earnings per share for the
quarter increased by $0.03,
year-over-year, to total $0.28
per share.
As at June 30, CBL's total
assets stood at $1.1 billion, rep-
resenting an increase of 7.87
per cent over fiscal year-end
2006.
Year-over-year, annualised
return on common sharehold-
er's equity was 34.4 per cent,
up from 32.6 per cent, while
return on assets increased to
3.65 per cent, up from 3.53 per
cent.


CHANGE VOLUME


The Bahamian Stock Market

FINDEX 834.63 YTD 12.47%


FIDELI M K W Ai


BISX CLOSING
SYMBOL PRICE


AML
BAB
BBL
BOB
BPF
BSL
BWL
CAB
CBL
CHL
CIB
CWCB
DHS
FAM
FCC
FCL
FIN
ICD
JSJ
PRE


$1.60
$1.57
$0.85
$9.40
$11.65
$14.60
$3.71
$10.75
$15.15
$2.41
$14.65
$6.82
$2.31
$6.20
$0.70
$20.73
$12.76
$7.25
$9.90
$10.00


$-0.06
$-
$-
$-
$-
$-
$0.06
$0.15
$0.05
$-
$-
$0.89
$-
$-
$0.06
$-
$-
$-
$-
$-


1275
0
0
0
1500
0
5152
14140
3167
0
0
0
0
5997
1500
1000
1250
0
0
0


DIVIDEND/AGM NOTES:

FAM has declared dividends of $0.06 per share, payable
on August 8, 2007, to all shareholders of record date August
14, 2007.
CWCB has declared dividends of $0.012 per BDR, payable
on August 8, 2007 to all shareholders of record date June
30,2007.

FCL has declared dividends of $0.12 per share, payable on
August 9, 2007, to all shareholders of record date July 27, 2007.



International Markets


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I RA L taUSkTAl


INDIGO
GREAT INVESTMENT OPPORTUNITY

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LOT #70 HOPE TOWN-ABACO

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

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GILINGAM HOUSE MONTAGU

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Top floor comprises of 2,562 sq. ft. of leasable area and 1,108
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furnishings.


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


Weekly %Change

1.0565 0.74
2.0407 -0.73
1.3774 -0.38


Weekly %Change

$75.21 -0.48
$679.00 -0.70


International Stock Market Indexes:


DJIA
S & P 500
NASDAQ
Nikkei


Weekly

13,181.91
1,433.06
2,511.25
16,979.86


%Change

-0.63
-1.77
-1.96
-1.76


POSITION AVAILABLE



INTERNAL AUDITOR

The Corporate Offices of itish American Insurance Company is looking for Internal Auditor.
The ideal candidate must be detail-oriented and self-motivated with excellent interpersonal and
communication skills. Ability to work with limited supervision in a fast-paced environment is a
must.

Responsibilities:
Conducting internal audits of departments across Company.
Reviewing Company files and procedures to ensure required documentation
Compiling statistical data and preparing written reports of audit investigation
Reporting procedural, compliance, and regulatory issues
Ensuring adherence to Company's procedures according to procedural manuals.

Core Competencies:
Ability to work with limited supervision and learn new skills quickly
Excellent oral and written communication skills
Ability to resolve problems with a sense of urgency
Ability to work under pressure
Demonstrate a keen eye for details
Strong interpersonal skills and ability to maintain a harmonious relationship with
co-workers
Ability to maintain confidentiality
Reliable, dependable and flexible team-player
Understand and demonstrate knowledge of the Insurance Industry and related
terminology

Required Qualifications:
Bachelors Degree or higher in Business, Finance or Accounts
Chartered Public Accountant (CPA)
5+years experience in a similar position at a supervisory level.
FLMI designation or equivalent a plus
Excellent computer skills and proficiency in Excel is required.

Benefits:
Salary commensurate with current salary scales, skills and experience.
Attractive benefit package including Life, Health and Pension,

Submit Resume to Human Resources Administrator,
British American Financial, by Friday August 17, 2007.
P.O.Box N-4815, Nassau Bahamas,
fax (242) 361-2525 or via email to
dparker@)ba bfinancial.com

DB British
UlAmerican


Ms. Klonaris, third from left, receives her Gift Certificate for $3,500 from
Alexcine Mader (I), Leroy Dames, Branch Manager, Freeport; and Barbara Roberts.


Ms. Klonaris Saved With Scotiabank And Won




$3,500!


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


Life. Money. Balance both:

*Trademarks of The Bank of Nova Scotia. Trademarks used under authorization and control of The Bank of Nova Scotia Conditbns
apply. Full contest rules and regulations are available in the branch. Please ask for a brochure.


FOREX Rates

CAD$
GBP
EUR

Commodities

Crude Oil
Gold


BUINS


YTD PRICE
CHANGE
162.30%
13.60%
11.84%
17.06%
3.10%
0.00%
112.00%
7.50%
21.10%
26.84%
3.53%
30.15%
-7.60%
7.08%
27.27%
65.18%
6.16%
1.40%
15.12%
0.00%


,'BeSSbBSSeS

















[BUSINESS


Ehe Miami H era-l-


TUESDAY, AUGUST 7, 2007


INTERNATIONAL EDITION


THE MARKETS
STOCKS, MUTUAL FUNDS, 8B
DOW 30 13,468.78 +286.87 .^
S&P 500 1467.67 +34.61 .
NASDAQ 2,547.33 +36.08
10-YR NOTE 4.74 +.06
CRUDE OIL 72.06 -3.42 V



Dow


surges


286


points
BY TIM PARADISE
Associated Press
NEW YORK Wall Street
surged higher in a volatile ses-
sion Monday, offsetting the
losses it incurred Friday but
showing more fractiousness
than conviction in an advance
that lifted the Dow Jones indus-
trials 286 points.
Investors tried to balance
their concerns about the avail-
ability of credit with hopes that
Tuesday's Federal Reserve
meeting will be a calming influ-
ence after two weeks of frenetic
trading on Wall Street. In a day
devoid of economic news and
with few earnings reports,
investors early in the session
seemed to avoid making big
bets, though stocks then gained
steam after midday.
Fed policy makers are widely
expected to hold the nation's
benchmark rate steady at
5.25 percent; as usual, the
greater concern is with the
Fed's economic assessment
statement.
This time, investors will be
looking to see what the Fed says
-- about credit.
The Dow's biggest point gain
of the year follows a number of
choppy sessions in which inves-
tor sentiment has vacillated
between fear about lending to
occasional bursts of optimism.'
Seven of the past 10 sessions
have seen swings greater than
100 points in the Dow. The
erratic activity has followed the
stock market's high seen July 19,
when the Dow closed above
14,000 for the first time.
"I really wouldn't read too
much into it," said Charles Nor-
ton, principal and portfolio
manager at GNICapital, refer-
ring to Monday's rally.
The Dow soared 286.87, or
2.18 percent, to 13,468.78. The
blue chips closed near their
highs after zigzagging through-
out much of the session. On Fri-
day, the Dow fell 281 points.
Broader stock indicators also
rebounded. The Standard &
Poor's 500 index rose 34.61, or
2.42 percent, to 1,467.67. The
Nasdaq composite index rose
36.08, or 1.44 percent, to
2,547.33.
The rally was not as wide-
spread as the rise in the major
indexes suggested, though.
Advancing issues outnumbered
decliners by about 6 to 5 on
the New York Stock Exchange,
where volume came to 2.28 bil-
lion shares, compared with
2.11 billion shares traded
Friday.
Falling oil also gave a boost
to stocks. Light, sweet crude
futures tumbled $3.42 to $72.06
a barrel on the New York Mer-
cantile Exchange. Gold prices
fell, while the dollar moved in a
mixed range against other
major currencies.
Bond prices fell after rising
during Friday's stock market
pullback, signaling investors
might be transferring money
into stocks.
The yield on the benchmark
10-year Treasury note rose to
4.74 percent from 4.68 percent
late Friday. Bond prices move
opposite yields.
The Russell 2000 index of
smaller companies rose 10.97, or
L45 percent, to 766.39.
In trading abroad, London's
FTSE 100 fell 0.57 percent, Ger-
many's DAX index rose
0.12 percent and France's
CAC-40 fell L16 percent.
The often volatile Shanghai
Composite Index rose 1.5 per-
cent to a record 4628.11. Japan's
Nikkei stock average dropped
0.39 percent.


AUTOMOBILES


PHOTOS BY SHUJI KAJIYAMA/AP
EXTRA EYES: A Nissan employee demonstrates the company's 'Around View Monitor System,'
which has cameras providing a bird's-eye view around the car to help make parking easier.


New cars will judge



dangers on their own

NISSAN IS PLANNING TO INCLUDE COMPUTER SYSTEMS IN SOME VEHICLES
THAT REACT TO DANGEROUS DISTANCES AND UNINTENTIONAL SWERVES


BY YURI KAGEYAMA
Associated Press
YOKOSUKA, Japan Some
Nissan cars will soon come with a
gas pedal that lifts to warn of pos-
sible collisions, and the cars will
automatically stop if drivers take
their foot off the accelerator in
response to the warning.
The technology combines radar
sensors and a computer system to
assess a car's speed and the dis-
tance to a vehicle in front, Nissan
said Monday. Cars with the new
safety features will be available
this year in Japan, and next year in
the United States.
The idea was to make a car that
judges dangers on its own, so
machine and driver can work
together, said Nissan Senior Man-
ager Yousuke Akatsu.
"It is almost like riding a horse,
the way the rider can have a dia-
logue with the horse," he said.
As soon as drivers lift their foot
off the gas pedal, the brakes kick in
automatically to bring the car to a
stop, Akatsu said. The car will
keep going if the driver continues
to step on the gas pedal.
Nissan also showed an experi-
mental system that measures alco-
hol levels in a driver's sweat from
sensors in the gearshift. The sys-
tem stops short of locking the igni-
tion but issues a warning in an
electronic voice.
Nissan said drunken driving
caused 611 fatal accidents in Japan


SUBTLE FEATURE: Nissan's pop-up-hood technology absor
shock and reduces the risk of injury when a pedestrian i


last year. That's half the number of
a decade ago, but 10 percent of
fatal accidents.
The car also recognizes if a
driver is drifting between lanes,
ahd comes with a computerized
camera that monitors blinking to
check if a driver is drunk or
drowsy.
Nissan officials said people
probably wouldn't buy such an
intrusive car, but the technology
may have commercial uses.
More practical is the lane-de-
parture prevention technology,
which swivels a car back into its
lane if it swerves off. The lane
technology is being offered later
this year in the United States on


bs
s hit.


the Infiniti EX luxury model.
Nissan also showed a dummy
crash test to demonstrate bumper
sensors that release a hinge to lift
the engine hood slightly and soften
the impact if a pedestrian is hit.
People hit by sporty models can
be hurt more seriously and easily
because the cars are lower to the
ground and have lean designs with
little space between the hood and
engine. Raising the hood on
impact helps absorb the shock and
reduces the potential for injury to
a pedestrian.
The pop-up hood will be
offered in Japan this year, Nissan
said. Jaguar, owned by Ford, and
Honda already offer the feature.


S AIRLINES



Flight



delays



at worst



level in



13 years

BY ALAN ZIBEL
Associated Press
WASHINGTON U.S. airline
delays,are at their highest level in at
least 13 years, and analysts say fliers can
expect more of the same for the rest of
the summer.
The Department of Transportation
on Monday said the industry's on-time
performance in the first six months of
the year was its worst since 1995, the
earliest period for which the agency has
comparable data. In June, nearly a third
of domestic flights on major U.S. air-
lines were late.
Part of the explanation for the wors-
ening delays is that demand for air
travel is rising, both on major airlines
and on smaller regional carriers. In
addition, the government said weather-
related delays in June were up 7 percent
from a year ago.
Reports of mishandled baggage and
complaints filed with the government
also rose.
S Airline consultant Robert Mann said
U.S. carriers improved their financial
health in recent years by relying more
on small-seat jets that are easier to fill
up, and can be more profitable because
there are fewer empty seats. However,
this strategy also leads to more
crowded skies and runways in a system
"that was already saturated," Mann
said.
For June, U.S. airlines' on-time
arrival rate was just above 68 percent,
compared with roughly 73 percent a
year earlier, according to Department of
Transportation data. So far in 2007,
nearly 25 percent of flights on the 20
largest carriers have arrived late, the
agency said.
Travelers on SkyWest's Atlantic
Southeast Airlines, a regional carrier for
Delta, had it worst in June, as about
56 percent of flights arrived on time,
and five of that airline's flights were late
100 percent of the time. American Air-
lines was barely better, with an on-time
arrival rate of about 58 percent. US Air-
ways had an on-time rate of about
62 percent.
The airline industry blames the
increased delays on a lack of a modern
satellite-based air traffic control system,
combined with increasing demand.
"We're not surprised by the num-
bers," said David Castelveter, a spokes-
Sman for the Air Transport Association,
the airlines' trade group. "We have been
saying for some time: It's going to get
worse before it gets better."


AUTOMOTIVE


New CEO is looking


to downsize quickly


BY MICHELINE MAYNARD
AND NICK BUNKLEY
New York Times
AUBURN HILLS, Mich. Robert
L. Nardelli, officially named as
Chrysler's new chief executive, said
he wanted to move faster and more
efficiently with the turnaround strat-
egy meant to revive the struggling
auto company.
Nardelli, ousted in January as chief
executive of Home Depot amid
shareholder discontent over his enor-
mous pay package, added that his
task was to prove that manufacturing,
and the automobile industry "is part
of America's future, not its past."
For Nardelli, the appointment pro-
vides an opportunity to burnish his
reputation, which was damaged by a
contentious relationship with share-
holders at Home Depot and his
departure with a severance package
worth $210 million, some of it to off-
set benefits lost when he was hired
from General Electric.
But Nardelli made scant mention
of that at a news conference, and
Chrysler executives focused on his
experience at GE, where he was


known as an operations specialist,
the main reason that new owner Cer-
berus Capital Management tapped
him to run Chrysler.
Nardelli, who stood in front of a
backdrop reading "The New Team,"
said he planned to stick with a
restructuring plan, rolled out on Val-
entine's Day, that called for Chrysler
to shut an assembly plant in Dela-
ware and eliminate 13,000 jobs by
2009.
"They got it," he said of the plan,
but added he would work closely
with Chrysler executives to carry it
out. "If we can do it faster, if we can
do it more efficiently, that's what we
want to do."
Nardelli is the second chief execu-
tive hired by a Detroit car company
from outside the auto industry in the
last year. Last fall, Ford Motor hired
Alan R. Mulally from the jet maker
Boeing.
At the news conference Monday
morning, Nardelli acknowledged that
he did not have automotive experi-
ence, but stressed his years dealing
with industrial and transportation
issues at GE, where he had risen to


TAKING THE WHEEL: Robert L. Nardelli, right, is introduced as the new
chief of Chrysler by former CEO Tom LaSorda, who will become
vice chairman and president.


run its power systems business.
"While I'm new to Chrysler, and
new to the car industry, manufactur-
ing and transportation is a business I
know, I like and I grew up in," said
Nardelli.
Nardelli's entire compensation
package will be based on Chrysler's
performance; he will not be paid if
the company, which lost $1.5 billion
last year, does not improve, people
with knowledge of his appointment
said.
Nardelli replaces Thomas W.


LaSorda, chief executive of the
Chrysler Group. LaSorda will now
serve as vice chairman and president.
The appointment of Nardelli is a
surprise both because of his lack of
automotive experience and the cir-
cumstances under which he left
Home Depot.
Under Nardelli's leadership, the
chain doubled its sales and the num-
ber of stores. But its stock price
stalled, and questions arose about his
leadership and his high pay. His final
months were tumultuous.


___


c uPa~A-rm~ulla~a~~,;I~IPZS~S~dlP~aG*A~- ----~- ill LCJI~PI C~ -I _I r I I r I ru I I r


................... ......













INTERNATIONAL EDITION TUESDAY, AUGUST 7, 2007 14B


BUSINESS BRIEFS


MORTGAGE INDUSTRY


American Home files for Chapter 11


BOOK A BUNK INSTEAD: This Lufthansa illustration shows
how the company would arrange the berths in a
stacked configuration to preserve profits.


Lufthansa may offer

economy sleeper cabins

From Herald Wire Services

There is good news for the thrifty traveler. German carrier
Lufthansa (DLAKF.PK) is considering introducing an econ-
omy sleeper cabin on its long-haul flights, which would for
the first time offer economy-class passengers a bed rather
than a seat for a far more comfortable ride.
The idea which would radically alter intercontinental
travel is still in the early phases of development, and the
airline was conducting an online poll of its customers to
gauge interest in the concept, Lufthansa spokeswoman Ame-
lie Lorenz said Monday.
"We are going to analyze the results of the survey, and
then we will decide whether to proceed or not," Lorenz said.
"But the first results have been very positive."


* PFIZER
AIDS DRUG MARAVIROC
WINS U.S. APPROVAL
Pfizer (PFE), the world's
biggest drugmaker, won U.S.
approval for maraviroc, the
first new type of medicine in
a decade to treat the virus
that causes AIDS, sending
the company's shares to
their biggest gain in more
than a year.
Maraviroc, to be sold
under the name Selzentry,
will provide an alternative
for thousands of Americans
with drug-resistant forms of
HIV.

* RUSSIA
PRESIDENT WANTS
CLEARER OIL RULES
President Vladimir Putin
called for more clear and
transparent rules for for-
eigners investing in Russia's
petroleum industry.
"We are consistently
directing our efforts at
establishing transparent
terms for foreign investors,"
Putin said. The government
has worked inconclusively
for four years on new legis-
lation regulating subsoil
resources. However, offi-
cials have stated repeatedly
that foreign companies
would be barred from hav-
ing majority interests in oil
or gas deposits over a cer-
tain size deemed by the gov-
ernment to be "strategic".

* AUTO SUPPLIER
DELPHI OK'S LABOR
DEAL WITH UNIONS
Delphi (DPHIQ.PK) said
it tentatively agreed to con-
tracts with four more
unions, including one that
recently warned a strike was
possible if talks stalled.
With the agreements, the
auto parts maker continues
to make progress on its
emergence from bankruptcy
protection. Delphi remains
in talks with one more
union, the United Steel-
workers, about a deal.
"This series of tentative
labor agreements demon-
strates Delphi's continued
commitment to achieving a
consensual resolution with
all parties in its Chapter 11
cases," John Sheehan, Del-
phi's chief restructuring
officer, said in a statement.
"We believe these agree-
ments, if ratified, provide
additional traction towards
our emergence."


* EARNINGS
COOPER TIRE SWINGS
TO 2Q PROFIT
Cooper Tire & Rubber
(CTB) said that it swung to
a profit in the second quar-
ter as the company contin-
ued to benefit from cost cuts
introduced nearly a year ago
and also enjoyed higher
prices in North America and
increasing sales overseas.
Cooper said it made
$18 million, or 28 cents per
share,-for the quarter ended
June 30 compared with a
loss of $21million, or
34 cents a share, a year ago
that was blamed on weak
demand for replacement
tires. Former Chief Execu-
tive Thomas Dattilo quit the
day the loss was announced.
Sales totaled $750.6 mil-
lion, compared with $624.8
million last year.
Shares jumped $1.07, or 5
percent, to close at $22.25.

* ACQUISITION
FORTIS OK'S PART IN
SEEKING ABN AMRO
Fortis shareholders on
Monday approved by a large
margin it's part in banking's
largest takeover ever and
also a share issue needed to
finance the deal.
The Fortis vote greatly
boosts the odds that the
Royal Bank of Scotland-
led consortium's $96.8 bil-
lion offer for ABN Amro
(ABN) will best that of Bar-
clays (BCS), which is worth
around $923 billion. Bar-
clays' bid was formally
launched Monday, as it won
EU regulatory approval.

* ECONOMY
JAPAN RAISES
ECONOMIC FORECAST
The Japanese govern-
ment raised its economic
growth projection for the
current fiscal year on strong
exports and increased busi-
ness investment.
In a midyear review, the
Cabinet Office estimated
Japan's economy will grow
at a price-adjusted or real
- 2.1percent pace this fiscal
year ending March 2008,
said Tomohiko Senge of the
Cabinet Office. In January
the Cabinet Office said the
economy would grow at 2.0
percent for the year.
Japan also revised down
its price forecast to show it
doesn't expect inflation this
year, Senge said.


LATE TRADING
4 .m. 635 pm. Late 4 p.m 635p.m. Late
Stdck T, d dose Chg. volume Stock Tlr. cls dose Chg. volume
SPDR SPY 146.21 146.35 +.14 184861 HarrahE HET 84.00 84.00 18051
iShR2Knya IWM 7603 76.10 +.07 90470 AESCorp AES 18.37 18.47 +.10 17997
BkofAm BAC 48.16 48.04 -.12 85183 UAL UAUA 43.48 43.51 +.03 17553
HomeDp HD 36.89 36.53 -36 64144 Mirant MIR 38.46 38.46 16373
PwShsQQQ QQQQ 47.97 48.01 +.04 57338 ConsolEngy CNX 38.81 37.35 -1.46 15499
WeilPdnit WIP 76.38 76.06 24 411371
Point WLP 76.30 76.06 -24 41371 SunMicro SUNW 4.96 4.95 -.01 15421
Prudentl PRU 86.96 85.20 -1.77 33023 Cisco CSCO 29.50 29.58 +.08 15337
Microsoft MSFT 29.54 29.47 -.07 28929
Indmac IMB 20.03 19.52 -.51 27645 Oracle ORCL 20.08 20.08 15141
Alo AL 96.15 96.15 23451 AmkorTIf AMKR 10.97 10.97 14915
Intel INTC 24.13 24.09 -.04 21638 InprNtwk JNPR 33.46 33.25 -.21 14392
QwestCm Q 8.42 8.40 -.02 21325 iShSP500 IW 146.37 146.37 13396
AmlntGplf AIG 64.56 63.62 -.94 19230 iShEmMkt EEM 130.03 130.63 +.60 12183
For up-to-date stock quotes, go to www.MiamiHerald.com and click on Business


BY DAN SEYMOUR
Associated Press
NEW YORK American
Home Mortgage Investment
filed for bankruptcy protec-
tion on Monday and two other
mortgage lenders said they
were not accepting new appli-
cations, signs that the worst
housing crunch in decades
could be widening.
American Home Mortgage,
based in Melville, N.Y., and
once the nation's 10th largest
mortgage lender, said it fell
victim to "extraordinary dis-
ruptions" that effectively cut
off the funding it needed to
make new loans. Falling home
prices and a spike in payment
defaults scared investors away
from mortgage debt, including
bonds and other securities
backed by home loans.
Houston-based Aegis Mort-
gage said it would not accept
any more applications and
said it could not meet all of its
existing funding obligations.
Cleveland-based National City
also stopped taking applica-
tions for new loans and lines
of credit in its wholesale home
equity unit.
"We are in a market now
where value is a fleeting con-
cept," JMP Securities analyst
Steven C. DeLaney said of the
vanishing appetite among
investors for the bundles of
mortgage debt that' had been


the funding lifeline for the
industry. "The market today
has just basically shut down."
American Home Mortgage
filed for Chapter 11 bankruptcy
protection in Wilmington, Del.
Its 40 biggest creditors include
virtually all the major names
of Wall Street. At the top of
the list are Deutsche Bank and
JPMorgan Chase.
Deutsche Bank had no com-
ment. JPMorgan Chase
declined to comment on its
exposure. In a statement,
American Home said it lined
up $50 million in debtor-in-
possession financing from WL
Ross & Co. WL Ross is led by
billionaire Wilbur L. Ross Jr.,
who has rescued failed compa-
nies in the steel, coal and tex-
tile industries.
RESTRUCTURING
The company hired Ste-
phen F. Cooper to be chief
restructuring officer. Cooper
was also chief restructuring
officer for Enron.
While bankrupt lenders
carry ominous implications
for the housing market and for
consumers hoping to take out
mortgages, they do not affect
the status of mortgage loans
already on the books.
A bankrupt lender simply
means financial institutions
will likely buy the company's
loans as its assets are auc-


In a slalemenl, American Home said it lined up
$50 million in debor-i n-possession financing
.from1 VL Ross & Co.


tioned off; it does not imperil
people's homes. Likewise,
Ganesh Rathnam, an analyst
who tracks investment banks
for Morningstar, said he does
not expect Wall Street to sus-
tain much damage from Amer-
ican Home, which has less
than $20 billion in liabilities.
"The Wall Street banks will
go and look for their next
source of income, whatever
that is," he said. "It is not
going to bankrupt them."
American Home Mortgage
joins more than 50 lenders in
bankruptcy this year. It is big-
ger than most of the other
lenders to go out of business
so far, second only to New
Century Financial.
But unlike New Century
and most other bankrupt lend-
ers, American Home Mortgage
was not a "subprime" lender.
Subprime lenders cater to
home buyers with spotty
credit. Almost none of Ameri-
can Home Mortgage's $58.9
billion in home loans last year
were to subprime borrowers.
Yet like other subprime
lenders, American Home's
decline was quick.
Last week, the company


said many of its lenders
wanted their money back, and
said it was unable to deliver as
much as $800 million in prom-
ised loans. It then laid off
almost 90 percent of its 7,000
employees.
NOTIFICATION
Houston-based Aegis Mort-
gage, whose owners include
private-equity firm Cerberus
Capital Management, said
Monday it notified brokers
who serire as customers that
Aegis would not be able to
fund loans currently in the
pipeline.
Aegis Mortgage spokes-
woman Pat Wente said the
company's roughly 30 U.S.
branches were open and its
1,300 workers on the job.
"We've just announced
we're going to have to suspend
lending until we get this fig-
ured out," she said. "We're in
the process of reviewing all
the alternatives we can."
AP Business Writers John
Porretto in Houston, Joe Mili-
cia in Cleveland, Matt Moore
in Frankfurt and Stephen Ber-
nard in New York contributed
to this report.


RETAIL


Wal-Mart extends its reach to India


BY RAJESH MAHAPATRA
Associated Press
NEW DELHI Wal-Mart
Stores and India's Bharti
Enterprises have reached a
deal to jointly build wholesale
outlets and manage a supply
chain for retail stores across
the country, both companies
said Monday.
The deal is intended to help
the U.S. company gain a foot-
hold in India's booming but
much protected retail busi-
ness, which is currently domi-
nated by an estimated 12 mil-
lion mom-and-pop shops. The
agreement faces political
opposition and the scrutiny of
a government that doesn't
allow foreign investment in
multibrand retailing.
Bentonville, Ark.-based
Wal-Mart and Bharti Enter-
prises have signed two sepa-
rate agreements, both of
which conform to existing
rules and regulations, said
Bharti's Managing Director
Rajan B. Mittal.
Under the first agreement,
the two companies will set up
"a 50-50 venture for wholesale
cash-and-carry and back-end
supply chain management
operation in India," a joint
statement said.
The second agreement
allows Wal-Mart to share its
technology and expertise with
Bharti for its retail stores. It
also gives an option to both
companies to display their
brands at the stores, although
it is not clear how that can be
done under current restric-
tions.
On a stand-alone basis,
each of these agreements may
not violate Indian laws, but
put together it amounts to


RESTAURANT CHAIN


McDonald'!


BY ASHLEY M. HEHER Mond
Associated Press McDol
CHICAGO McDonald's a defir
said it agreed to sell its meat- Golder
and-potatoes Boston Market Markel
restaurant chain to private The
equity firm Sun Capital Part- seven
ners for an undisclosed sum. ald's
"This is consistent with our studyir
successful strategy to focus on the cha
brand McDonald's, a strategy Bos
that continues to deliver called
results," McDonald's spokes- acquire
man Walt Riker said. lion as
Richard Hurwitz, a spokes- diversi
man for Boca Raton, Fla.- chain I
based Sun Capital, confirmed states.
the agreement but declined to Sinc
make further comment. Riker pared
said the transaction will likely sheddi
be completed in several Grill, I
weeks. stake i
He would not discuss food re
details of the sale. "It
The transaction was first than a
announced in a regulatory fil- analyst
ing made by the world's larg- Boston
est restaurant company on is really


allowing Wal-Mart an entry
into the country's retail busi-
ness.
The Indian government has
not raised any objection to the
teaming of Wal-Mart and
Bharti since it was first made
public in November last year.
Officials said they would save
their scrutiny until after the
companies work out the agree-
ments.
If cleared, the deal
announced Monday would


s to sell


ay. In that filing,
nald's said it had signed
Litive agreement to sell
n, Colo.-based Boston
t in "early August."
News of a sale came
months after McDon-
acknowledged it was
ng strategic options for
ain.
ton Market, originally
Boston Chicken, was
ed in 2000 for $173.5 nil-
part of an initiative to
fy its business. Now the
las 630 restaurants in 28

:e then, McDonald's has
down its partner brands,
ing Chipotle Mexican
Donato's Pizza and its
in Fazoli's Italian fast-
estaurants.
was more a distraction
anything Morningstar
t John Owens said of
i Market. "McDonald's
y singularly focused on


inark Wal-Mart's first entry
into a large country in a dec-
ade the last was China, said
Raj Jain, head of India opera-
tions.
"This is very significant....
India is a very large country
with a billion people and has a
very bright future," Jain said.
The first wholesale cash-
and-carry facility is targeted to
open by the end of next year.
Over the next seven years, the
venture is expected to open 10


NEW VENTURE:
Managing Director
of India's Bharti
Enterprises Rajan
Bharti Mittal, left,
with Wal-Mart's
President of
Operations in India,
Raj Jain announced
a 50-50 joint
venture of chain
S stores in India to
serve small retail
shops.






RAVEENDRAN/AFP-GETTY IMAGES






to 15 such facilities and employ
about 5,000.
Both companies declined to
comment on financial details
of the deal.
A typical wholesale facility
will stand between 50,000 and
100,000 square feet and sell a
range of fruits and vegetables,
groceries and staples, statio-
nery, footwear, clothing; con-
sumer durables and other gen-
eral merchandise items, said
Jain.


I Boston Market


PR NEWSFOTO
PURCHASE PRICE: Boston Market, originally called Boston
Chicken, was acquired by McDonald's in 2000 for
$173.5 million.


the Golden Arches, so this was
not a surprise to me."
Sun Capital, which now
owns Fazoli's, has a portfolio
that also includes bakery chain
Bruegger's Enterprises, Gar-


den Fresh salad restaurants
and cheese-and-meat retailer
Hickory Farms.
McDonald's shares rose 94
cents, or 1.9 percent, to close at
$49.46.


* AIRLINES


I


I I I I ~I


THE MIAMI HERALD I MiamiHerald.com








THETIBUNE TUESDAY AUGUS 7,2007PSINS


FNM government yet




to meet BTC bidder


* By NEIL HARTNELL
Tribune Business Editor

months after
taking office, the
FNM govern-
ment has yet to sit down for-
mally and meet with the bid-
der seeking to privatise the
Bahamas Telecommunications
Company (BTC), a situation
likely to spark speculation over
whether it will go through with
the deal previously agreed by
the Christie administration.
Zhivargo Laing, minister of
state for finance, responded
"no" when asked by The Tri-
bune whether the Government
had formally met with Blue-
water or set a time for when to
do so.
"I couldn't say when, but I
imagine that at some point it
would be a desirable thing to
do," Mr Laing said about a
meeting between the Govern-
ment and Bluewater. "I could-
n't say when though."
The minister said the agree-
ment in principle reached
between Bluewater and the
Christie government, which
would have seen the bidder
acquire a 49 per cent stake in
BTC and management control,
was "still a matter under
review".
When asked by The Tribune
about whether the Bluewater


ZHIVARGO LAING
deal was 'dead' and the Gov-
ernment seeking to privatise
BTC by other means, Mr Laing
said: "I don't want to make that
leap. Only to say we're com-
mitted to privatising BTC, as
we've said in the manifesto."
There is little doubt, though,
that Bluewater's principals are
likely to be getting increasing-
ly frustrated with each passing
day over the inability to con-
clude BTC's privatization with
the Bahamian government,
especially as it took two years
of negotiations with the
Christie government to reach
a deal in principle a situation
not uncommon among
investors.


Philip 'Brave' Davis, Blue-
water's attorney at Davis & Co,
could not be reached for com-
ment before the holiday week-
end, but James Smith, the for-
mer minister of state for
finance, had previously told this
newspaper that the group's
shareholders and financial
backers likely to be private
equity firms were giving them
pressure over the length of time
talks were taking and capital
being tied up.
Meanwhile, Mr Laing told
The Tribune that while he and
Prime Minister Hubert Ingra-
ham were ultimately responsi-
ble for BTC's privatization, he
could not confirm whether
speculation reaching this news-
paper was true, namely that the
Government had to pay Blue-
water a "substantial break-up
fee" if it failed to conclude the
BTC deal by July 31, 2007.
Subsequent checks by this
newspaper confirmed this was
not correct, as it is more a case
of the new government having
done nothing so far to advance
the deal left behind by the
Christie administration.
James Smith, the former
minister of state for finance,
provided an answer to the
break-up fee speculation, say-
ing that Bluewater had initially
proposed inserting a break-up
fee clause worth "a couple of
million dollars" in the BTC


NOTICE
Notice is hereby given of the loss of Bahamas Government Registered Stock Certificate as follows:


Interest Rate
5,16%


Certificate No.
77057


I intend to request The Registrar to issue a replacement certificate. If this certificate is found, please
write to P.O. Box SP-60024, Nassau, Bahmas.


Stock
2024,2025


Amount
$1,500


I SWEETING


I O'BRIEN


COUNSEL & ATTORNEYS-AT-LAW
303 SHIRLEY STREET I P.O. BOX N-492
NASSAU, NEW PROVIDENCE I THE BAHAMAS
T: 242.328.3500 1 F: 242.328.8008.1 www.gsolegal.com

GLINTON I SWEETING I O'BRIEN is seeking two qualified
Attorneys-At-Law to join the firm as Associates specializing in Real Estate
Law and Litigation, respectively.

Applicants should have strong academic records, particularly in
respect of their legal studies, be organized and diligent workers with sound
analytical and writing skills, and should have the personal skills
necessary for direct professional interaction with the firm's most
important clients. Two or more years experience is
preferred but is less important than ability and the right attitude.

Successful applicants will receive a highly competitive salary,
including full medical insurance and will participate in a generous
profit-sharing scheme. More importantly, the successful applicants will join
a thriving new practice in the early stages of its growth, and work in an
enjoyable and challenging environment while having the benefit of
careful and thorough training from experienced practitioners.

Interested applicants should deliver their curriculum vitas to our offices
in the Destinations Building, 303 Shirley Street, along with copies of all
degrees and certificates earned and at least two samples of written work
prepared by the applicants in either an academic or professional context.
All applications will be treated as confidential.
I I I


Ernst & Young


names managing


partner

HUBERT Chipman has succeeded Philip Stubbs as man-
aging partner of Ernst & Young (Bahamas), with effect
from July 1 2007, following the latter's decision to retire in
June 2007.


SEE page 10


GLINTON


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Thank you for your Support over the years


THE TRIBUNE


TUESDAY, AUGUST 7, 2007, PAGE 5B


Maturity Date
2026






THE TRIBUNE


PAGE 6B, TUESDAY, AUGUST 7, 2007


Food


-N-SHOP th e the B#a1""O nw s .p'a.pe
in cpcultion jus


to


'last at least






until autumn'


SBe prepared forthe storm The wholesaler's note
explained that "canned tuna is
WE BLACK & DECKER STORM STATDN now practically unavailable to
SR purchase. We will be going up
ALL-IVONE RECHARGEABLE POWER in price when our next product
SOURCE/RADD j/LGHT that was previously ordered
comes in".
*Redageabb emea'genecyfpower In turn, the Bahamian
/lcE -/tCiDb.r ahtb, l bcamt ri htfthatges wholesaler passed along mar-
ket information from supplier
aO When pl.'eriqces OfE Rema Foods, which described
the tuna fish market as the
* 25-atitcwe-rSDiUC fbrbw-watiage "firmest" in the company's 44-
dev s;AM /FM V audbWeafter- year history. having been hit
d s;AM by "the perfect storm".
atlEr c- tC;,-- detad-tbL, fi-d-rhtL: The factors driving current
-u- market conditions, Rema
E R Iug aCl. s.Lt sti i/.- Jtt.i LT-lj .- Foods explained, were a seven-
3-rosJhn CI ,- -r an.h -_, degree change in ocean tem-
ibIn C2 n a perature that was causing the
* Irlick~S 12 -.,l-t-,J-iayCi.e tuna to swim lower below fish-
ing nets, coupled with a reduc-
tion in the number of Asian
canneries and the fact that
Indonesian fishing boats were
now being kept in port due to
S' the typhoon season.
Adding to these supply side
Tel- C42 394-';49 .EastBayStHee-t pressures was the move by
F' Box1l 30l5 .N -ssau Bahamas Ecuador, South America's
n E largest tuna supplier, had
stopped fishing for two
e -:ei:a..;s'. *tCf~-,';AC7k-d Iac.=Ltl months. These forces were
exacerbated by an increase in
S )- tuna demand from Russia.



i '. .


.]



EMPLOYMENT OPPORTUNITY
SECURITIES COMMISSION OF THE BAHAMAS
The Securities Commission of The Bahamas, a statutory agency responsible
for regulating the Investment Funds, Securities and Capital Markets in the
Bahamas through its administration of the Securities legislation (the Investment
Funds Act, 2003 (IFA) and Securities Industry Act, 1999 (SIA), is seeking
candidates for the following position:

Programmer
Responsibilities:

Assist with the design development and ongoing maintenance of IT
application systems within the Commission
Identify ways to improve current software that will result in a better user
experience
Add new features to current software and create new software applications
as needed
Work independently or in a team environment to meet deadlines
Research and fix problems and acquire new knowledge with little or no
supervision
Qualifications and Experience:

Qualified programmer with a minimum qualification of a bachelor's
degree in computer science or related field or 5-7 years of programming
experience
2-3 years experience developing web
Knowledge of IIS6 and SQL server 2005 essential
Ability to write SQL statements and stored procedures is an asset
Sound knowledge of web security using SSL encryption and building
secure applications
Ability to work in Dreamweaver, Front page, Visual Studio or other web
design tool a plus
Working knowledge of the securities industry and the relevant legislation
Competencies:

Excellent oral and written communication skills
Proficient in HTML, VB/Java script, ASP.NET, SQL, SSL
Must have ability to grasp new programming technologies and apply
new techniques to environment
A competitive salary and benefits are being offered. To apply, please provide
a resume to the attention of:
MANAGER CORPORATE AFFAIRS
SECURITIES COMMISSION OF THE BAHAMAS
P. O. BOX N-8347
NASSAU, BAHAMAS
Fax: 356-7530
E-Mail: info@scb.gov.bs
Applications should be submitted no later than August 15th, 2007


adding to global demand, while
the US$ weakness on global
foreign exchange markets and
the European Union's (EU)
more favourable import duty
regime were further pressures.
When asked about the likely
impact for Bahamian con-
sumers, Ken Burns, Bahamas
Supermarkets' chief executive,
said: "Based on all the facts
you've read, prices will contin-
ue to rise. They say it'll be at
least until the fall. It will have
an effect on us here."
He urged shoppers to "be
wise and conscious of pricing",
and pay attention to their
weekly and monthly food bud-
gets. Mr Burns acknowledged
that unlike mortgage and elec-
tricity payments, shoppers did
have room to cut their food
budgets, so Bahamas Super-
markets was paying attention
to its costs, procurement and
merchandising in a bid to ease
pricing pressure.
Rising global food prices,
much like the oil price situa-
tion, again illustrate how vul-
nerable the Bahamas is to
external forces, given that this
nation imports about 90 per
cent of its food bill from
abroad either directly or
through wholesalers. Rising
shipping costs are another fac-
tor influencing the cost of


goods in Bahamian food
stores.
Mr Burns emphasized that
all Bahamian food retailers,
not just Bahamas Supermar-
kets, were "on the consumer
end of it", and had to accept
the prices they obtained from
manufacturers, supply houses
and buying groups they were
members of.
"Certainly, if we do not pass
all these increased costs on in
pricing, it will have a negative
effect," Mr Burns. "And if
you're going to ask whether
we passed along all of these
increases to the consumer, no,
we haven't."
Items
He pointed out that a signif-
icant percentage of the items
sold by Bahamas Supermar-
kets were price controlled.
meaning that as costs rose the
company faced lower margins
on many products.
On the cost side, Mr Burns
said Bahamas Supermarkets
was looking at "close to a $1
million increase" in its elec-
tricity bill for the financial year
ended on June 30, 2007, com-
pared to the year before.
Insurance was another major
cost. Mr Burns added, and to
keep utilities prices under con-


Has two vacancy for an
Assistant golf Superintendent

- Assists in supervision and coordination of the dal\ 1 to day ac tiC itic o
associates engaged in preseri ing grounds and golldcourse turf in pla\ ing
condii osion. tion assists ill cnsuLrinlg gluest I ni id asiociatc atisaction l i
achice\ cdl vlilc mailntinng lth ie operation budgett'. Klnow\ ledge 01
special i/edl. saOl \\5aer resistanil Lrl'.i II I 'I i. c,\,'mi 1Cn.'I c \\ illh a ScoItislh
smyled links course Iprectrend.
-Abiliti to coiI1nnu11nicate vih (C'o-\\o1kclT amlnd 'Maiagm'en1t lamln.
-ProIicicmill N\th \Microsolt \\ ord and NMIcrosoli I'\,ecl
-Good colllnll catiioln skill'.
-Willing to relocate to Abaco Balilhliis.

.9ieaac (Gof ProfessionaC

- Rcsponsiblc lor actiities in\ l'iCl with the olI'Le s xpcicncc' Main
dult is so supervise the staff in a hands on 0a to ensue all yuiii'st neelCC
are met in a professional and liile m manner.
-Abilit to connillnllicale \\ilh ('o--\okers and minacmenilt teaim.
-I'ronicient \\itI MNicrIosolt W\\ord') anid Iicrsolt I,\cel
-( ;iood commIIIIIIUII CI ionI skill.
-Willing to relocate tobiln a co ahaiaas.

Lease send restines to

Attn: DIirector ol' I human Resources
I he Abaco Club on \Winding iBa\
P.O. Box AB22057I
Marsh HI arbour Abaco
Fax: 242-367-0392


FROM page 1


price


increases


trol the company was reassess-
ing its refrigeration equipment.
Bahamas Supermarkets also
released a July 20, 2007, note it
had received from American
Italian Pasta Company, manu-
facturer of the Mueller's brand,
which warned that the pricing
of durum semolina and dry
pasta was set to increase.
American Italian Pasta
Company said the market for
its key raw ingredient, durum,
had seen "unprecedented infla-
tion over the past 12 months,
and in particular the last
month, more than any similar
period over the past 20 years'.
The firm said durum was
now selling for $9.50 per
bushel, an 85 per cent increase
over the same period last year
and 39 per cent higher than the
June 2007 price, which was
between $6.5-$7 per bushel.
Durum inventories were at
their lowest levels worldwide
for 10 years, due to a combi-
nation of factors that included
increased corn demand for use
in ethanol production, a
drought in North Africa, an 18
million bushel harvest short-
fall in Italy, and a crop failure
in Greece that saw a 50 per
cent reduction in the harvest.
Heavy rains impacted the
French durum harvest, while
Syria' defaulted on a supply
agreement with Italy.
As a result, American Italian
Pasta Company said Italian
and other pasta producers had
.been forced to buy durum
from the already-low US
stocks as a consequence of the
harvest failures, which is what
caused the July price spike.
Durum price pressures, the
company warned, would
remain until the next
African/European harvest in
Spring 2008, and further cost
increases were likely if the US
harvest was impacted by rain
or some unseen event.
American Italian Pasta
Company said the situation
would cause it to "advance
pricing to all customers",
although the durum price was
expected to settle below $9.50
per bushel and the company
had enough to meet all cus-
tomer needs.
And on the dairy products
front, droughts in the US and
Australia have caused a short-
age of powdered milk that has
yet to be fully reflected in con-
sumer prices at food stores
across the globe.
Skimmed milk powder on
the world market has increased
in price by 140 per cent over
one year ago, with butter
prices up 42 per cent and ched-
dar prices ahead by 30 per
cent. Australian milk prices
have been forecast to rise by
20-25 per cent over the coming
months.
As for poultry, farmers have
seen feed wheat costs rise by
40 per cent so far this year, and
by 70 per cent compared to
2005.




Share

your

news

i7e tribune wants to hear
from people who are
making news in their
neighborhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an
award.
If so, call us on 322-1986
and share your story.


UNIQUE OPPORTUNITY

TREMENDOUS INVESTMENT POTENTIAL

42 ACRE SITE MARINA & HOTEL/COTTAGES

FRAZERS HOG CAY, BERRY ISLAND, BAHAMAS

.APPROVED SUBDIVISION PLANS

SELLING PRICE $8M

TERMS AVAILABLE
CONTACT ERVIN KNOWLES
242-393-0316
242-393-0011
FAX: 242-393-0940
Email: ervinknowles@yahoo.com
Anguilla@batelnet.bs


I I;IIBUSINESS







TUESDAY, AUGUST 7, 2007, PAGE 7B


THE TRIBUNE


Rum Cay developer draws






$1.5m of $7m loan facility


* By NEIL HARTNELL
Tribune Business Editor

behind the $600-
$700 million Rum
Cay Resort Marina
has drawn down $1.6 million
of a $7 million loan facility it
arranged with a company that
acquired a 20 per cent stake in
it for $13 million.
A filing with the Securities &
Exchange Commission (SEC)
confirmed that on March 8,
2007, Montana Holdings
agreed a $7 million revolving,
unsecured credit facility with
Integrated Data Corp, a firm
listed in the US on the Nasdaq
pink sheets.
Integrated Data Corp con-
firmed that the same day,
"Montana Holdings received
a drawdown of $1.6 million
from the loan facility, with
IDC holding back loan
arrangement fees as well as
legal costs. Based upon same, a
net total of $1.523 million was
wired to Montana Holdings".
The Tribune revealed last
week how Montana Holdings
had sold the 20 per cent stake
in return for the $7 million


, ,
T'


% \ii 1


loan facility from the
Delaware-based tclecommu-
nications holding company,
which was created from a firm
that emerged from Chapter 11
bankruptcy protection in 2002.
at $65 million or $11,615 per
share, a figure based on its land
holdings. Apart from owning
the 890-acre site for the Rum
Cay project, the Rum Cay
Resort Marina developer also
owns 550 acres of land at
Pigeon Creek in San Salvador
for another potential resort
development plus Rum Cay's
Sumner Point Marina.

Documents

Documents on" the deal,
posted on the Securities &
Exchange Commission (SEC)
website due to Integrated Data
Corporation being listed on the
Nasdaq, reveal that at January
23, 2007, Mr Mittens benefi-
cially owned 1,966 shares of
Montana Holdings' issued
5,956 ordinary shares, and in
total controlled some 3.933
shares or 70 per cent of the
company's equity.
The contract for purchasing
the shares reveals that "John


Mittens or his associates
promise to facilitate the pur-
chase by Integrated Data Cor-
poration of not less than 20 per
cent of Montana Holdings.
"Until such time as govern-
ment approval is obtained for
the transaction or until such
time as Integrated Data Cor-
poration directs, John Mittens,
the chairman and majority
shareholder of Montana Hold-
ings, shall continue to hold in
trust such equity on behalf of
Integrated Data Corporation
and to Integrated Data Cor-
poration's order".
The $13 million purchase
price was settled by a $3.88
million cash payment to Mr
Mittens and his associates, who
also received a further $6.12
million through being issued
with 3.06 million in ordinary
shares in Integrated Data Cor-
poration effectively a stock
swap.
The remaining $3 million
balance was accounted for by a
$3 million loan from Montana
Holdings to Integrated Data
Corporation the former
financing the partial acquisi-
tion of its shares which bears
an interest rate of 3 per cent


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Course 5116: Configuring Windows Vista Mobile
Computing and Applications

Microsoft@ Certified Systems Engineer (MCSE 2003)


CCNA Certification
Learn the knowledge and skills necessary to select, connect, configure. and
troubleshoot various Cisco routers and switches


Oct G Nov I blues & Thurs


Nov 6 Nov 15 Tues &Thurs


begins Oci 6 Tues & Thurs


3 Weeks 6.00 PM 900 PM


2 Weeks


7 Months


6 00 PM 9.00 PM


600PM 900 PM


BI- Ii


Nov !" Dec 1


Man & Wed


SWeeks i 600PV-900PM


per annum and is payable on
the fifth anniversary of the deal
or before.

Return

In return, Integrated Data
Corporation agreed to make
available to Montana Holdings
a $6 million loan facility to
finance the Rum Cay Resort
Marina's construction, plus a
further $1 million loan facility
to finance Montana's "pro-
posed development of a semi-
autonomous floor and wall tile
production facility", which it
is understood will use stone
from the Rum Cay Resort
Marina presently being exca-
vated.
The loan terms and condi-
tions had to be approved by
Matrix Securities and HBOS,
the UK bank formed from the
merger between Halifax and
Bank of Scotland. The two
companies are understood to
be the major financiers of the
Rum Cay Resort Marina pro-
ject.














,INSIG


I I


coMARLEYaSh
Cable Beach, Nassau bahafnas


Honest. Passionate, Efficient. Personable.
Individuals to fill the following positions:

Bellman
oecuritg
Room Attendants
Public Area Attendants
Laundry Attendants
Maintenance helpers

Cooks
Hostoes
Bartondors
Bus person

-pa Thorapist
Nail Technicians
-pa Reeoptionist

All applications are appreciated but only
qualified individuals will be considered.
Our email address is admin@marleyresort.com
or you may fax it to (242) 327-1662 or mail it to
SP-63148. Nassau, Bahamas


BSI TRUST CORPORATION (BAHAMAS) LIMITED


BSI Trust Corporation (Bahamas) Limited, Nassau, Bahamas, was incorporated
in 1997. Owned by BSI Lugano, BSI Trust is a subsidiary dedicated to providing
specialist trust and fiduciary services to individual and company clients.


Applications are presently being accepted for



TRUST MANAGER


Reporting to the Managing Director, applicants for the position of Trust Manager
must be a qualified STEP member (or equivalent) and demonstrate at least 5
years of effective management abilities, together with an understanding of the trust
company's regulatory framework and external environment.


Personal qualities:-
Excellent organizational, communication and computer skills (Word, Excel and
trust administrative systems) Goal-oriented, self-motivated, positive attitude and
outlook Commitment to quality, service excellence and customer satisfaction
Flexibility in work hours


Responsibilities:-
Manage a diverse portfolio of trusts and companies Liaise with BSI Group account
officers and legal department in establishing suitable structures Control day-to-day
administration


If you have the qualities we are looking for, we offer an attractive remuneration
package, with all the associated benefits you would expect of our company and
one that reflects your qualifications and experience. For those with a desire to
develop a long-term career with a progressive and dynamic company, we believe
we have the opportunity to match your expectations.


Resumes should be faxed to #702 1253 or mailed or delivered to the offices of
BSI, addressed to :-
Personnel Officer
BSI Trust Corporation (Bahamas) Limited
Bayside Executive Park, West Bay St. & Blake Road
P. O. Box N -7130
Nassau, Bahamas




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


Dreamweaver MX 2004 o 020 S 10 Sao 4oays i or M... i0 P
Create dinsin and indate Wah nabqe and entire Wah sit s


I


II


3 days


Mon Wed


Sea! IS Dc., 1 Tan & Thws


1 wuaaks


i


.aab


I














ST. AUGUSTINE'S COLLEGE is accepting
applications immediately for the following positions:

1. A senior teacher for English Language and
Literature to teach upper level grades (10 to 12).

2. A substitute teacher for the months of September
and October to teach French and Spanish.

The applicant must have experience preparing
students for external examination subjects (example
CXC). The applicant is required to have a minimum
of a Bachelor's Degree, a Teaching Certificate and
at least three years teaching experience. Any person
having difficulty with the Roman Catholic teachings
need not apply.

Applications should be submitted in writing to:
The Principal
St. Augustine's College
P.O. Box N3940
Bernard Road
Nassau, Bahamas

Please supply a daytime telephone contact an email
address in your cover letter.






NOTICE

NOTICE is hereby given that OLETTE ELIBON JOSPEH OF
CROOKED ISLAND STREET, P.O. BOX N-8889, 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 7TH day of
AUGUST, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.


COMMONWEALTH OF THE BAHAMAS 2006/CLE/QUI/No 0013
IN THE SUPREME COURT
COMMON LAW and EQUITY DIVISION


... IN THE MATTER OF ALL THOSE pieces parcels or tract
of land containing 2.592 acres being the South-eastern
portion of a Crown Grant originally made to Anthony Smith
and recorded in Book F at page 17 and situate on the main
Queen's Highway in the Settlement of Mars Bay in the
Southern District of the Island of Andros one of the Islands of
the Commonwealth of The Bahamas.
AND
IN THE MATTER OF The Quieting Titles Act, 1959, Chapter 393
AND

IN THE MATTER of the PETITION OF BERTRAM M.
TAYLOR under The Quieting Titles Act, 1959
NOTICE
The Petition of BERTRAM M. TAYLOR of the Settlement of
Mars Bay in the Southern District of the Island of Andros one of
the Islands of the Commonwealth of The Bahamas in respect
of:
ALL THOSE pieces parcels or tract of land containing
2.592 acres being the South-eastern portion of the land
the subject of a Crown Grant originally granted to the late
Anthony Smith situate on the main Queen's Highway in
the Settlement of Mars Bay in the Southern District of the
Island of Andros aforesaid.
BERTRAM M. TAYLOR claims to be the owner of
the fee simple estate in possession of the tract of land
hereinbefore described free from encumbrances.

AND the Petitioner has made application to the
Supreme Court of the said Commonwealth of The
Bahamas under Section 3 of The Quieting Titles Act,
1959 (Chapter 393) Statute Laws of The Bahamas. To
have his title to the said parcel of land investigated and
the nature and extent thereof determined and declared in
a Certificate of Title to be granted in accordance with the
provisions of the said Act.

NOTICE IS HEREBY GIVEN that any person
having Dower or a right to Dower or an Adverse Claim
or a claim not recognized in the Petition shall on or
before the Twenty-third day of August, A.D., 2007 file in
the Supreme Court and serve on the Petitioner or the
undersigned a Statement of his Claim in the prescribed
form verified by an Affidavit to be filed therewith, Failure
of any such person to file and serve a Statement of his
Claim on or before the Twenty-third day of August, A. D.,
2007 will operate as a bar to such claim.

Copies of the filed plan may be inspected at:

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

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


BISX the 'main






beneficiary' from






the public sector






securities listing


FROM page 1


more than $2 billion in value,
and that does not include the
debt of corporations and pub-
lic agencies that it has guaran-
teed. The listing and trading
of such paper securities on a
formalized exchange would
give BISX the critical mass, in
terms of capitalisation, volume
and breadth of investor
options,
that it has been seeking since
first going live in summer 2000.
Keith Davies, BISX's chief
executive, told The Tribune
last week: "The basis of any
developed market is an organ-


I


ised government debt market
thht is issued and traded on an
exchange."
Without this, he said, BISX
would lack a "key pillar" for
its future growth and that of
the wider Bahamian capital
markets, not to mention an
option for investors to grow
their wealth through trading
government debt on the sec-
ondary market the exchange
would provide.
"One of the problems we
have in this country is savings
and investing," Mr Davies
added. "For there not to be
avenues through an organised,
trusted mechanism, for persons
to acquire securities, then you
do not benefit the population
as a whole.
"One of the main aims of
BISX is to benefit the average,
every day investor through the
creation of products and ser-
vices, one of which is the Gov-
ernment debt securities."
Mr Davies added that the
exchange should "never in any
circumstances try to make
money" from an inefficient
market mechanism. It should
only seek profits from a robust,
efficient market that "will then
benefit the economy, our
investor base and the members
as a whole. The only way we
will survive and prosper is by


MIDWAY
"Where Our Quality & Experience Shine!"
tI Specializing in:
SRoofing, Home Maintenance, Painting & Varnishing,
Pressure & Mildew Cleaning, Roof Painting, Water
Proofing, Plumbing, Window Cleaning, Drywall
Installation, Replace Rotten Woodwork, -,
Laminate Floor, Tiling, Repair
Cracks to Concrete Walls




NOTICE

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


being efficient, profitable and
cost effective".
Currently, government debt
issues are usually handled by
the Central Bank of the
Bahamas via an auction sys-
tem, with stock allocated on a
'first come, first served basis'.
Apart from creating a sec-
ondary market for the trading
of government debt securities
on BISX, increasing market
liquidity and investor options,
listing such paper on the
exchange will also improve the
efficiency of their issuance and
provide for better price dis-
covery.
BISX and the Central Bank
of the Bahamas communicated
their thoughts on how the list-
ing and trading of government
debt securities on the exchange
might work, both from an
operational and transition
standpoint, to the former min-
ister of state for finance, James
Smith.
The ball is now firmly in the
FNM administration's court.
In the past, it has displayed a
lukewarm attitude towards
BISX and the Bahamian capi-
tal markets, its failure to agree
to the listing of government
debt during the first Ingraham
government a key factor in the
financial problems that gripped
the exchange during its first


years in existence, after it
'ramped up' its facilities to han-
dle business that never arrived.
While progress under the
former Christie administration
was slow, headway was never-
theless made, as the Govern-
ment stepped in alongside the
private sector to provide BISX
with much-needed financial
support to guarantee its future.
The exchange's failure would
have been a major blow for the
wider Bahamian capital mar-
kets.
It is likely that the Govern-
ment is concerned with its loss
of control over the government
debt market if the securities
were listed and traded on
BISX. It may also feel that the
drive to attract the public debt
market on to the exchange is,
to some extent, self-serving, as
fees from issuance and trading
will largely accrue to BISX and
its broker/dealer members.
"The future of BISX is tied
into the Government debt
market. It gives us the ability
to branch into new areas com-
fortably," Mr Davies previ-
ously told The Tribune. "The
first step has to be the conclu-
sion of this project, which has
been going on for two to two-
and-a-half years. We've turned
it around. We've just got to get
on with the work now."


NOTICE

NOTICE is hereby given that UNSEUL JOSPEH OF
CROOKED ISLAND STREET, P.O. BOX N-8889, 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 7TH day of
AUGUST, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.


NOTICE

NOTICE is hereby given that JOSUE JOHN JOSEPH OF
PALM BEACH 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 7TH day of AUGUST, 2007 to the Minister
responsible for Nationality and Citizenship, P.O.Box N- 7147,
Nassau, Bahamas.


C F A L"'
Pricing Information As Of:
Friday. 3 August 200 7
BISX LISTED & TRADED SECURITIES VISIT VVWW.BISXBAHA .
BISX ALL SHARE INDEX: CLOSE 1.846 37 / CHG 00.15iG / :t. O
52wk-Hi 52wk-Low Securit y Previous Close Today's Close Change Dally Vol. EPS $ Dlv $ PIE Yield
1.78 0.54 Abaco Markets 1.60 1.60 0.00 0.000 0.000 N/M 0.00%
12.05 11.00 Bahamas Property Fund 11.65 11.35 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%
371 1.48 Bahamas Waste 3.71 3.71 0.00 0.279 0.060 13.3 1.62%
1.57 1.20 Fidelity Bank 1.57 1.57 0.00 0.064 0.020 24.5 1.27%
10.76 9.10 Cable Bahamas 10.76 10.75 -0.01 1.300 0.949 0.240 11.3 2.23%
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 15.12 15.15 0.03 1.190 0.680 12.7 4.50%
6.82 4.60 Consolidated Water BDRs 6.82 6.37 -0.45 0.112 0.050 61.0 0.73%
2 76 2.20 Doctor's Hospital 2.31 2.31 0.00 0.281 0.000 8.2 0.00%
6.40 5.54 Famguard 6.20 6.20 0.00 0.694 0.240 8.9 3.87%
12.76 11.51 Finco 12.76 12.76 0.00 0.787 0.570 16.2 4.47%
14.70 13.01 FirstCaribbean 14.65 14.65 0.00 0.977 0.470 14.6 3.21%
20.73 11.17 Focol 20.73 20.73 0.00 1.657 0.530 12.5 2.56%
1.00 0.54 Freeport Concrete 0.64 0.70 0.06 0.415 0.000 1.7 0.00%
865 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(l) 10.00 Premier Real Estate 10.00 10.00 0.00 1.167 0.600 8.6 6.00%
Fieallty Over-The-Countfar S cftl g'- ', .. .. .
52wk Hi 52wk-Low Symbol Bid $ Ask $ Last Price Weekly Vol. EPS $ Div $ P/E Yield
14 60 12.25 Bahamas Supermarkets 14.60 15.60 16.00 1.234 1.185 12.6 8.12%
10 14 10.00 Caribbean Crossings (Pref) 6.00 6.25 10.00 0.000 0.640 NM 7.85%
0.54 0.20 RND Holdings 0.35 0.40 0.20 0.034 0.000 11.8 0.00%
Colina Over-The-Counter Aeirit :... :" ..' ./
43 00 ,,, -' .--. ".' 1 i u, 4 1 00 2 22 Oi00'3 194i C, -jO :
14.60 14.00 Bahamas Supermarkets 14.60 15.50 14.00 1.234 1.125 12.6 7.71%
0.60 0.35 RND Holdings 0.45 0.55 0.45 0.021 0.000 26:2 0.00%
BISX Listed IhMutual Funds ..
52wk-Hi 52wk-Low Fund Name r4.. .TD'. Last 12 r.lonins Di. I, .ea
1.3484 1 2998 Colina Money Market Fund 1.348410'
3.2920 2 9449 Fidelity Bahamas G & I Fund 3.2920"**
2 7399 2 4415 Colina MSI Preferred Fund 2.739935"
1 257G 1.1820 Colina Bond Fund. 1.257576-..
11 6049 11.1193 Fidelity Prime Income Fund 11.6049."'
FINDEX CLOSE 833 74 / YTD 12.36% /2006 34,47% : '' ". '
BIlXS ALl SHARE INDEX 19Dec 02 1.000 00 MARKET TERMS 'L.i I.* I .- ,"- ...1. 1.- J i.L .1 r r. *
:wk Hi Hilghe-.t closing price in last 52 weeks Bid $ Buying price of Colina and Fidelity
52wk-L r Lwes. t rIlning price in last 52 weeks Ask $ Selling price of Colina and fidelity *- 20 July 2007
Previous Cloet Previous day's weighted price for daily volume Last Price Last traded over-the-counter price
roday's Close Current day's weighted price for daily volume Weekly Vol Trading volume of the prior week 30 June 2007
Change Change ini closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths
Daily Vo NulrlbD of total shares traded today NAV Net Asset Value "" 31 May 2007
DIV S Di-vldend; per share paid in the last 12 months N/M Not Meaningful
Pi Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January 1. 1994 = 100 *** 30 June 2007
.... 30 June 2007
TO TRADE CALL. COLINA 242-502-7010 I FIDELITY 242-356-7764 I FOR MORE.Q1iA, it, ""i S "a'


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

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

CLARITA V. LOCKHART
CHAMBERS
NO. 90 SHIRLEY STREET
NASSAU, BAHAMAS
Attorney for the Petitioner

Attorney for the Petition


I


PAGE 8B, TUESDAY, AUGUST 7, 2007


THE TRIBUNE













BISX Rules changes go to


Board


'in week or so'


Duties Include:
o Demonstrates technical marketing skills and
product knowledge
" Coordinate mass media advertisement
(Prints, Radio, T.V)
" Coordinate special events
" Accurate dissemination of special and seasonal
advertisement

Applicant Should:
" College graduate with related experience in same
or similar position
o Strong communication skills (both written and
oral)
O High level of creativity
o Highly motivated
o Resistant to stress
o Flexible and decisive
Transportation needed

Interested applicants should contact
the Human Resources Department on or
before:
Friday August 10th, 2007.


Tel: 325-2122
Fax: 356-7855


* By NEIL HARTNELL
Tribune Business Editor
The final draft of the
proposed amend-
ments to the
Bahamas Interna-
tional Securities Exchange's
(ilSX) listings and issuers'
continuing obligations rules
will be submitted to the
exchange's Board "in a week
or so". with some 90 per cent
of feedbaclk comments relat-
ed to Ihc suggested timelines
lor filing quarterly and annual
reports.
Keith Davies. BISX's chief
executive, told The Tribune:
"I will be submitting the final
draft version to them in a
week or so." Once approved
by the Board, the proposed
amendments have to go to the
Securities Commission of the
Bahamas for the regulator's
approval, and this is a time-
line that Mr Davies has no
control over.
"1 think what you will see
are refinements to what was
already published," Mr Davies
said of the changes to BISX's
initial draft, which was sent
out to the capital markets and
industry participants for con-
sultation.
Additions
"There might be a few
minor additions to fill gaps
people wanted filled. It's
refinements, not what I would
call material issues in the final
draft."
Among the most controver-
sial proposals by BISX were
to reduce the timelines for the
filing of quarterly and annual
financial reports by its listed
issuers to 60 days and 90 days
respectively from when lthe
period ended, as opposed to
the current timelines of 90
days and 12o days.


Some questioned whether
external auditors would be
able to complete their work
within the shortened dead-
lines, while the Bahamas Insti-
tute of Chartered Accountants
(BICA) said these deadlines
could only be met with full c0-
operation between auditor
and company.
Ninety
Mr Davies said: "Ninety per
cent of the communications
dcalt wilh the filing timelines
and deadlines considered by
the exchange.
"So in that regard there may
be some changes that are
reflective of those issues.
"I think we've been respon-
sible, yet responsive, to what is
required by the investing pub-
lic. I expect we will see some
amendments in that regard
and some changes to address
those issues."
The initial proposed
changes to the BISX Rules
were intended to improve
market transparency, corpo-
rate governance. disclosure
and the timeliness of financial
reporting, and deal with issues
such as insider trading and the
major amount of insider infor-
mation swishing about in the
Bahamian capital markets.
Among the proposed
changes were reducing the
timelines for filing quarterly
and annual financial from 90
days and 120 days respective-
ly to 60 days and 90 days; giv-
ing BISX's listings committee
the ability to disqualify listed
equities" directors; the require-
ment for all BISX issuers to
make all material disclosures
to a new BISX department,
called the Companies
Announcements Office; and
expanded sanctions powers
for the BISX Listings Com-
mittee:; '


Vacancy For


The Position Of:


Core Responsibilities:

* Provides user support for the company's networked systems, by
investigating and performing resolutions to problems that are
reported.
* Performs routine installations, preventative maintenance and
repairs to hardware, operating systems and application installations.
* Troubleshoots system and application problems, including issues
and servers.
* Assists with documentation and maintenance of technical standards
and operations.
* Assists with the implementation of new technologies and
information systems and the decommissioning and disposal of
old technologies.
* Assist with the administration of the company's networked anti-
virus and data back-up systems by checking that these systems
are current and operate as scheduled.

Knowledge Skills and Abilities:

* Advanced knowledge various Windows operating systems to
provide help desk support and to troubleshoot end-user and back
office systems.
* Sound knowledge of computer hardware to execute hardware
repairs and upgrades.
* Basic knowledge of networking, especially protocols in use by
the company to troubleshoot and assist in rectifying network
issues.
* 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.
* Associates degree in a computer-related field, industry standard
network certifications required, plus two (2) or more years of
proven technical support and network systems experience.

Benefits include: Competitive salary comnmnsurate 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 8128
c/o The Tribune
P.O. Box N-3207
Nassau, Bahamas


GN 548







GOVERNMENT NOTICES


MINISTRY OF I' N DANCE

PUBLIC NOTICE

WARNING TO MERCHANTS


Contractors and suppliers of goods and services are reminded not to
supply commodities and services, to Government Ministries and
Depanments, without first obtaining an approved Purchase Order.
All co.., ,nes/individuals who are requested by
Ministries/Departmenls of Government to supply goods and services in
excess of five hundred dollars ($500.00) must ensure that they are in receipt
of an approved Purchase Order stamped by the Public Treasury.
The Ministry of Finance will not be held responsible for the payment
of any claims which have been incurred without proper authority.






SIGNED
RUTH R. MILLER
FINANCIAL SECRETARY


PUBLIC NOTICE


DEFENCE FORCE RECRUITMENT EXERCISE



CORAL HARBOUR BASE (RBDF) The Royal Bahamas Defence Force is
presently conducting a Recruitment Exercise for persons in the Family
Islands. Applications can be obtained and returned to the Local
Administrator's Office.

The deadline for submission of Applications is 131h August 2007.

Applicants Should:
* Be a Bahamian citizen
* Be between the ages of 18-24 years
* Possess a minimum of (5) BJC's or equivalent, including Math and English
with 'C' passes or above.
Obtain two character references and a Police Character Certificate.

Applicants are required to be successful in all the following:
A Psychometric Evaluation
Recruitment (written) Examination (Math, English and General Knowledge)
Physical Fitness and Swimming Tests
Vetting Assessment and Medical Examination
Interview Assessment

Emphasis for.recruitment will be placed on candidates with:
Strong Character and leadership qualities
Desire to maximize potential in a disciplined environment
Willingness to spend lime at sea
Willingness to conduct tour of duty at satellite base on a Family Island or
outside the Bahamas.
Good academic backlgrouind
Proficiency in a second language
Proliciency in a musical instrument



Interested persons may contact:

Lieutenant Commander Gaye Major
Personnel & Recruiting Officer
l)efence Force Headquarters
P.O.Box N-3733
Coral Harbour, New Providence


TUESDAY, AUGUST 7, 2007, PAGE 9


THE TRIBUNE






THE TRIBUNE


PAGE 10B, TUESDAY, AUGUST 7, 2007


FNM government yet to meet BTC bidder


elude a deal with the Govern-
ment.
Designed

This was designed to ensure
Bluewater was not left
exposed, especially if the Gov-
ernment "bailed out" late on,


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.




COMMONWEALTH OF THE BAHAMAS 2004
IN THE SUPREME COURT CLE/Qui/No. 01590
COMMON LAWAND EQUITY DIVISION (CLE)




NOTICE

THE PETITION OF WITHMOOR LORENZO PRATT IN
RESPECT OF:-
ALL THAT piece parcel or lot of land being of
admeasurements 5,914 square feet and situate in the
Golden Gates 2 Subdivision and being Lot No. 384
and being bounded NORTHWARYLY by a forty (40)
feet wide Road Reservation and running thereon Eighty
(80) feet SOUTHWARDLY by Lot No. 385 and running
thereon One Hundred (100) feet WESTWARLDY by a
portion of Lot No. 383 and running thereon Sixty (60)
feet EASTWARDLY by a Forty (40) feet wide Road
Reservation and running thereon Forty (40) feet which
said piece parcel or lot of land is shown on the plan filed
herewith and is thereon colored RED.
WITHMOOR LORENZO PRATT claim to be the
owner in fee simple in possession of the said lands
and has made application to the Supreme Court of the
Commonwealth of The Bahamas under Section 3 of
the Quieting Titles Act, 1959 to have his title to the said
lands investigated and the nature and extent thereof
determined in a Certificate of Title to be granted by
the Court in accordance with the provisions of the
said Act. A plan of the said Lands may be inspected
during normal working hours at the following places.

(a) The Registry of the Supreme Court, BitCo
Building, Nassau, The Bahamas.
(b) The Chambers of V. Alfred Gray & Company,
Suite #5 The Malcolm Building, Bay Street &
Victoria Avenue, Nassau, The Bahamas;


NOTICE IS HEREBY GIVEN that any person or
persons having dower or right of dower or an Adverse
Claim or Claim not recognized in the Petition shall
on or before 21st day of September A.D.2007 file in
the shall on or before Supreme Court of the City of
Nassau in the Island of New Providence, The Bahamas
and serve on the Petitioner or the undersigned a
Statement of his Claim aforesaid non compliance
with this Notice will operate as a bar to such claim.



V. ALFRED GRAY & CO.,
Chambers
Nassau, The Bahamas

Attorneys for the Petitioner


but Mr Smith said this clause
was never signed up to by
either party.
"It Iwas almost a rlnool
clause." he explained. "()Once
we had come to terms oni(i the
agreement and price, that
would have fallen away
because the next step was Ilthe
share transfer.
Added
Mr Smith added lhat as far
as he could recall, there was
no time limit by when the Gov-
ernment and Bluewaicr had to
decide on concluding a deal.
saying that under the previous
administration "both sides
were prepared to keep ham-


mering away until they got an
acceptable deal".
Mr Smith said the key was
now for the FNM government
to decide if it had obtained a
deal it "could live with".
Longer
He added: "The longer it's
privatizationn] not done, the
further we are away from lib-
eralisation of the telecommu-
nications sector. We've been
in it for 10 years now."
The Bluewater deal, he
added, was a partial privatisa-
tion, as the Government would
retain a 51 per cent stake,
something it could sell down
or dispose of later for future


WANTED

For growing medical facility. Strong
organizational skills and flexibility is a
must. Book-keeping skills or knowledge
of Quick Books Accounting is preferred.
Attractive salary and benefits offered.


Please deliver resume with references to
Grosvenor Medical Centre

(Ph#328-5550)



Legal Notice
NOTICE


PROJECTOR S.A.
In Voluntary Liquidation


Notice is hcrcbN given that in accordance with Section 138
(4) of the International Business Companies Act, 2000,
PROJECTOR S.A. is in dissolution as of August 2,
2007.

International Liquidator Services Inc. situated at 35A
Regent Street, P.O), Box 1 '77, Belize City, Belize is the
Liquidator.



i.AQUIDATOR



Legal Notice

Notice

Chepstow Limited

Pursuant to the Provisions of Section 138 (8) of the
International Business Companies Act 2000 notice
is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant to
a Certificate of Dissolution. issued by the Registrar
General on the 16th day of July, 2007.



-Lyndcn Nlaycock
Liquidator
of
Chepstow Limited




NOTICE



GUN POINT INVESTMENTS LIMITED



T1'1: is to inlonn tlhe (cicnral Public that all that private
rll oiiiugfilre ,r rioad'\ay kno i ni as ( un IPoint situate northeast-
a .id of thle Rellci Aci ol fSpanlish \Vclls at thc noi thwesterin
Lt.! ( t) Island of N.Ib,' Elclthcra swill be closed to the Public
'oin ()) ;i i oil o i l i:, l8th \igust, 2007 to ):(00) a.m. on
,Sunda I')tlh \Ill',IS. !0- it protect the right of ownership.




ver iette Sands
t'l-t.,ident


value-added gains.
Mr Smith said of the Blue-
water deal: "All we do know is
that in terms or price, commit-
ment and projections, it's pret-
ty much out there with the best
you could get at that time."
Bluewater's principals are
ex-Time Warner executive,
Roger Ames, and former NTL
chief financial officer John
Gregg. All mergers, acquisi-
tions and commercial deals
have a time when they are
'hot', but if business is not con-
cluded and the deal sealed dur-
ing that period, they often go
'cold' and prove difficult to
revive.
Financial
Bluewater's financial back-
ing is likely to come from pri-
vate equity sources, plus
investment banks and other
financial institutions, some of
who will provide debt financ-


ing.
Such institutions want to
earn a return on their capital,
not leave it sitting idle and
undeployed for a long period
of time. As a result, Bluewater
may be unable to keep its
financial backers sitting around
forever while it waited for the
FNM government to make up
its mind.
The PLP Government had
initially sought $250 million,
with Bluewater only prepared
to pay $225 million, so an
arrangement was worked out
where Bluewater would pay
$220 million up front, a further
$35 million at the end of the
five-year cellular monopoly,
and a final $5 million in the
sixth year for a total of $260
million.
The $260 million price was
double the amount offered by
the leading bidder in the failed
2003 privatization process,
BahamaTel.


._ . a.


I '* _^ --.--. *____



(I ".


S w "?
^/'t~/bv\.n


i 4


it:8
:-".L -


.i ''


Legal Office Assistant Required


For a small Law Practice


Minimum two (2) years experience in


Conveyances, Mortgages & Divorce


Please e-mail resume to
legal_assist01 @yahoo.com
or fax to 326-0626 before
August 13, 2007






BRI $.TOL
WINES & SPIRITS


Bristol Wines & Spirits welcomes
application for the position of:




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


Please contact Arame Strachan to arrange

for an interview today!

341-9300


FROM page 5


contract to cover its due dili-
gence expenses accountants
and attorney fees, hotel and
airfares etc if it did not con-


ji I.j


--


, I
, "*yAR










THE TRBN TUESDAY AUUS 7,207 AG


Visit our website at www.cob.edu.bs


,: rAMAS,


Fall Semester 2007 New Student Orientation


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

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


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


Advisement, Registration

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


International Conference

Abolition of the Trans-Atlantic Slave

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


Call for Papers


The College of The Bahamas will host the Conference: "Abolition of The Trans-
Atlantic Slave Trade: Telling the Story, February 21-23, 2008 at the Oakes Field
Campus, Nassau.
Abstracts of approximately 200 words are invited on the following topics:
Language and Oppression
Religion in Slavery: Agent Provocateur or Opiate?
Slavery and Human Sensibility
Power and Enslavement
Kinship across the Diaspora
Identity: Culture, the Arts, Race and Gender
The African Diaspora's Gifts to the World
Enslavement and Liberation: Telling the Story through Teaching, Song,
Story and Preservation
Liberation: Ideologies, Contexts and Dynamics
Liberation: Simple Past or Present Continuous?
Please send abstracts as an attached Word file to Jessica Minnis, Chair of the
Conference Committee at abolitionconference(tcob.edu.bs no later than Friday,
August 31, 2007.
(See over)
Conference Structure


The conference will feature 20-minute papers from all disciplines, followed by 10-
minute discussions, presented in concurrent and plenary sessions. Panel and
poster proposals will also be considered. Such proposals should be as complete
as possible.

Submissions (an electronic copy) should be directed to:
Jessica Minnis
Associate Professor, School of Social Sciences
The College of The Bahamas
P O Box N4912
Nassau, Bahamas
E-mail: abolitionconf@cob.edu.bs

Deadline for Submission: Monday, December 31, 2007.
Accommodation for Non-Resident Delegates
Information will be forthcoming.

Registration


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


$450:00
$150:00
$125.00
$150.00
$75.00


For information on the availability of student subsidies, please contact:
Vice President Research, Graduate Programmes and International Relations
Tel: (242) 302 4455


Registration is open and online at iL .


YOU ARE CORDIALLY I INVITED TO THE




OF
.







THE ANGLICAN C-URCH AND EDUCATION IN THE BAHAMAS:

THE ANGLICAN CONTRIBUTION TO EDUCATION AND THE BUILDING OF
CiVIL SOCIETY 1(H .BI AHAMAS 172 .








S. "' A .

I Rh1 'iYC S, 6NDS .D ., .
A 4 tiWjVt;


&AA.


B;CKER CPA REVIEW
BAHAMAS LOCATION- Nassau

Starts: 18th August, 2007
Since its debut. the Becker CPA
Review Programme has consistently
delivered superior exam preparation.
Clearly, Becker offers distinct and
unparalleled advantages that no other
CPA review course can deliver. We
can help you to chart a course for a' -
successfidl and rewarding career in
professional accounting!
CLASSES MEET: Saturdays- 8:30am 5:30pm
The ('erliied I'Lulic A\.ou1iiilanlt (('i'A) x\ainiationa i' ihe leader and grandparent of all professional accounting examinations.
The benefits include in eased conlidcncic and competence and recognition as a member of'an elite group of professionals.
Opportunities av;ilablc to l 'PA are poIilions in government or not-for-profil organizations, public or private companies. As a
('PA. you co UldI s~ITcii/c in lnlbftormati Ion chnology Services, Financial Planning. Auditing, Estate Planning, Management
Accounting. Public .\Acouniiin. I ;ix Administration. International Accounting. accounting education, and much more. We can
help) on tn clhart a courlc tbr ai succcsstiil and rewarding career in professional accounting!

AsA About Our Eas), Payment Plan!
Financial Reporting (F): $ 650
Sc-gulat..i.l (R): $ 520
Business & Economic Concepts (B) $ 455
Audit & Attestation (A) $ 455
FEES $ 165
* Tuition is same as United States rates: $2,100
* Repeat Candidates: 50% Discount on Tuition
* Tuition Free Continuing Help Available to Qualified Applicants
Books and Materials Per mission for purchase with proof of registration
/ e' i,,,an I mlt, 11, r hei pi il In rI/h. 'In c r, in ,rld BnA Certified Cheque to The College of The Bahamas
Imuinevy 11i Hl. CI)aAis H'eld C('amp) P'nt tiana Drive. CEES Re.seirve the Right to Change Tuition, Fees, Course Content,
I( ,urse .S' hedule anid o ('lulrse Muitrials.
For additional information, please contact
THE COLLEGE OF THE BAHAMAS
Centre For Continuing Education & Extension Services (CEES)

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


Ad Distribution Date: 17'" Ju.In'l 21


I I I


I I_ I


TUESDAY, AUGUST 7, 2007, PAGE 11 B


THE TRIBUNE


,;,. ..G" BAMHAMk.S


. .- L, J b, ', --:..a b li i,. :.I if 1 .







THE TRIBUNE


PAGE 12B, TUESDAY, AUGUST 7, 2007


IMMEDIATE EMPLOYMENT

OPPORTUNITIES
FOR THE FOLLOWING POSITIONS
ARE AVAILABLE AT

THE GREEN PARROT
Harbourfront Bar and Grill
East Bay Street

Shift ManagerslKitchen Managers
Cooks
Waiters/Waitresses
Bartenders

Please provide all resumes in writing
to the Director of Operations
Email to info@greenparrotbarcom
Or fax to 328-8381


4-&'* l n tnl Studen.s!


down


FROM page 1
trend that needs reversing.
In its report on monthly eco-
nomic and financial develop-
ments for june 2007, the Cen-
tral Bank said that there was
"a less pronounced weaken-
ing" in hotel industry profits
compared to the reduction in
stopover arrivals figures, due
largely to increased average
room rates offsetting occupan-
cy declines.
Yet the Central Bank
reported that room revenues
for major resort properties
were down by an average of
5.5 per cent, with Grand
Bahama and New Providence
room revenues down by 19.2


Monday, August 13-16, 2007
9:00am 7:00pm


n oitartsigeR


I "R ... .. IC.. .... ...Ir-F."
Contact the Registrar Office for more information

-. W'* .. .. "
Registration Monday, August 20- 24, 2007
9:00am 7:00pm

Date Time Programme,
Monday-Thursday 9:00am-12:30pm Continuing students only
August 13-16, 2007 2:30pm-7:00pm Continuing students only

Monday 9:00am-12:30pm Barbering
August 20, 2007 Cosmetology
Facial Technology
Nail Technology
Tailoring
Women's Apparel Production 1 & 2
2:30pm-7:00pm All of the above
9:00am-12:30pm Auto Collision Repair
Auto Mechanics
Computer Repair
Tuesday Electronics
August 21, 2007 Air-conditioning & Refrigeration
Small Engines
Welding
Drawn & Painting Souvenirs Manufacturing
Shell Craft
Straw Craft
2:30pm-7:00pm All of the above
9:00am-12:30pm Carpentry
Ceramic Tile Laying
Wednesday Masonry
August 22, 2007 Commercial & Residential Painting
Plumbing
Commercial & Residential Drywall Installatior
Electrical Installation
Upholstery
Window Treatment & Accessories
2:30pm-7:00pm All of the above
Thursday 9:00am-12:30pm Computer Software Applications
August 23, 2007 Office Administration 1 & 2
2:30pm-7:00pm All of the above
S- :15. Wek Block Program
Construction, Nail Technician, Barbering and Facial
15 week programs are held Monday to Friday during August20-24,20
the day periods. These programs are suitable for A
persons who prefer intensive modes of learning.


.:: iJBI ODevopmient tHome Improvement
Professional Development t Home Improvement
Courses Registration August31 October 5, 2007
Call 502-6300 for more information
SGraduatIng Students:

Monday, September 10- Friday September 14, 2007
9:00a.m.-5p.m. -Graduation Regalia Distribution at BTVI Campus.
Tuesday, September 25,2007
6:00pm REHEARSAL FOR GRADUATION at Bahamas Faith Ministrie
,m_ Thursday, September 27, 2007


7:00pm GRADUATION CEREMONY at Bahamas Faith Ministries.

Fall Semester Orientation
nf- -~ui danr, Life Bible Church Hall
Date: August 10, 2007
Morning 9:30am-11:30am


per cent and 5.5 per cent
respectively.
On the Family Islands,
though, room revenues were
up by 4 per cent for the 2007
first quarter compared to last
year. Given all the issues
impacting tourism, and exter-
nal pressures from high oil and
food prices, the Central Bank
subtly moderated its outlook
for the Bahamian economy for
the remainder of 2007.
Not as positive as it was just
a month ago, the Central Bank
said the economy was "expect-
ed to maintain a relatively pos-
itive momentum over the
remainder of the year", driven
by private sector credit expan-
sion and residential and
tourism investment projects.


Share

your

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


5.5%


These forces had "countered
softening in tourism activity"
to date, but the Central Bank
warned that the Bahamas was
now in the period of its tradi-
tional drawdown in external
reserves and liquidity, as the
slower part of the tourism sea-
son coincided with increased
foreign currency demand.
This demand is driven by
businesses traditionally using
the summer months to rebuild
inventories, coupled with the
tendency of many Bahamian
families to head away on vaca-
tion.
The Central Bank reiterat-
ed its warning on the risks
posed by oil prices and "the
ongoing adjustments in the
tourism sector". For the first
five months of 2007, tourist
arrivals overall were down by 6
per cent, with air and sea traf-
fic off 6.8 per cent and 5.6 per
cent respectively.
"Weakness in the key
stopover market was most pro-
nounced for the United States,
but inclusive of the European
segment, which combined to
overshadow robust growth
from the Caribbean, Latin
American and Caribbean mar-
kets," the Central Bank said.
Grand Bahama saw a total
arrivals decline of 12.9 per
cent, with sea and air arrivals
off 16.2 per cent and 5.3 per
cent respectively. New Provi-
dence experienced an 8.7 per
cent air arrivals fall-off and 4.6
per cent cruise passenger


decline, while the Family
Islands saw a 2.3 per cent
decline in sea arrivals but 0.9
per cent rise in air arrivals.
Meanwhile, retail price infla-
tion foe the 12 months ending
June 2007 firmed to 2.43 per
cent from 1.63 per cent, amid
the influence of rising oil
prices. Average costs for food
and beverages and recreation,
entertainment and services
rose by 4.18 per cent and 3.21
per cent respectively.
For the six months to June
2007, growth in Bahamian dol-
lar credit lessened to a rate of
4.2 per cent or $251.5 million,
compared to growth of 6.2 per
cent or $319.8 million during
the same period in 2006.
Private sector credit expan-
sion slowed by one-third to
$197.4 million, as consumer
credit and mortgage growth
fell by 27.3 per cent and 21.4
per cent respectively to $70.6
million and $128.4 million.
Liquidity conditions were
much improved during the
2007 first half, with excess cash
balances and excess liquid
assets up by $160.1 million and
$256 million respectively to
$296.3 million and $265.4 mil-
lion. This compared to increas-
es of $29.9 million and $86.3
million in xcess cash balances
and excess liquid assets during
the 2006 first half.
External reserves grew by
$214.6 million during the 2007
first half, compared to $70.5
million in 2006.


I Bank of The Bahamas
SN INTERNATIONAL


GOVERNMENT GUARANTEED ADVANCED
EDUCATION LOAN SCHEME

in collaboration with the Education Guaranteed Fund Loan Program of the Ministry of
Educ j,., Bank of The Bahamas international is pleased to advise that the cheque
d;sbur~-neirn! 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


NEW STUDENTS
Srmsei in


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


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


RETURNING STUDENTS

A-C Tuesday, August 7, 2007 i
D- J Wednesday, August 8, 2007
SK-P Thursday, August 9, 2007
SR-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
:deniHftictlon (valid Passport and National Insurance Card),

* 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!


Hotel room


revenues


Evening 6:00pm-7:00p_
Financial Aid
Financial Aid Office is open to students Monday through Friday 9:00am -5:00pm.


_ BUSINESS


or,

J2I -MA


I










THE TRIBUNE


TUESDAY, AUGUST 7, 2007, PAGE 13B


GN-547








GOVERNMENT NOTICE





Ministry of Finance Licencing Authority




Notice Of Sitting Of The Licensing Authority


NOTICE OF SITTING OF THE LICENSING AUTHORITY




THE LIQUOR LICENCES ACT CH.372

NOTICE is hereby given that a sitting of the Licensing Authority for NEW PROVIDENCE will be held at the Valuation and Licensing
Unit. Frederick House. Frederick Street on 15 August 2007 at 10:00 o'clock for the purpose of granting licences (and transfers
of licences) under the above Act.

Any person shall be at liberty to oppose the grant of a licence and should do so at least three (3) days before the date set for the
meeting by submitting his/her objection to the applicant and the Licensing Authority.

The public meeting is scheduled for 4:00 at the Magistrate's Court #7. Bank Lane. Applicants are advised that they need not attend
the public meeting unless they have been notified that there is an objection to the grant of their application. (ALL NEW APPLICATSS
APPLYING FOR A LIQUOR LICENCE NEED TO ATTEND THIS MEETING).


*The undermentioned persons have applied for the grant of licences specified below.

NEW APPLICATIONS FOR THE YEAR 2007 LIQUOR LICENCE


NAME AND ADDRESS DESCRIPTION LOCATION
OF THE APPLICANT OF LICENCE OF PREMISES


0106 ANTHONY LORENZO GIBSON
GIBSON ANTHONY
KELLY LANE AND JOHNSON ROAD


0107 BRISTOL GROUP OF COMPANIES LTD
BRISTOL WINES & SPIRITS
GLADSTONE ROAD


0108 BUDDY MCCARDY
TWIN BROTHERS "STALL #38"
MARKET STREET


0109 BUDDY MCCARDY
TWIN BROTHERS "STALL #38"
MARKET STREET


0110 BYRON Q. FERGUSON
FERGUSON Q. BYRON
9TH TERRACE. COLLINS AVENUE



0111 CHRISTOPHER JOHNSON
JOHNSON CHRISTOPHER
FAITH AVENUE


0112 CIRO LOWE
LOWE CIRO
GOLDEN ISLES


0113 CURTIS A. TURNQUEST
TURNQUEST A. CURTIS
#179 OLD CEDER STREET



0114 DENNIS PALOMINO
D'PAL CAR SALES
#12 SEARS ROAD


0115 DERYN MICHAEL JOHNSON
JOHNSON DERYN MICHAEL
CARMICHAEL ROAD


0116 EMMALINE LOUISE RICHARDSON
EMMALINE RICHARDSON
MARKET STREET OPP BAKER STREET


0117 HERBERT/JULIA MEADOWS
MEADOWS HERBERT/JULIA
#63 CROOKED ISLAND STREET


0118 IVAN CLAYTON & VAUGHN OSCAR
FANATICS SPORTING LOUNGE
JOE FARRINGTON /TWYNAM HEIGHTS


0119 JOHN SKANDALIARIS
SKANDALIARIS JOHN
CHORLETTE STREET


0120 JOHN SKANDALIARIS
SKANDALIARIS JOHN
CHORLETTE STREET



0121 JOHN SKANOALIARIS
SKANDALIARIS JOHN
CHORLETTE STREET



0122 LATOYA LISA BROWN
BROWN LISA LATOYA
C.W. SAUNDERS HIGHWAY


0123 LATOYA TECORA WILLIAMS
WILLIAMS LATOYA
CARMICHEAL ROAD


0124 MANDY YUEN (KAM LING YUEN)
MANDY'S FRENCH BAKERY & CAFE
TWYNAM AVENUE


0125 PATRICIA BROWN
BROWN PATRICIA
HAMSTER ROAD



0126 R DOUGLAS FERGUSON
TITTA'S BAR ENTERPRISES LTD
JOHNSON ROAD


WHOLESALE LIQUOR




WHOLESALE LIQUOR




GENERAL LIQUOR (OTHER)




MUSIC AND DANCE




WHOLESALE LIQUOR






GENERAL LIQUOR (OTHER)




WHOLESALE LIQUOR




WHOLESALE LIQUOR






RESTAURANT AND BAR




RESTAURANT AND BAR




WHOLESALE LIQUOR




RESTAURANT AND BAR





RESTAURANT AND BAR




PROPRIETARY CLUB




RESTAURANT AND BAR






MUSIC AND DANCE






GENERAL LIQUOR (OTHER)





RESTAURANT AND BAR





RESTAURANT AND BAR


WHOLESALE LIQUOR





GENERAL LIQUOR (OTHER)


GROUND FLOOR OF A TWO STOREY GREEN/BEIGE
BUILDING WHICH IS SITUATED ON JOHNSON RD
OPPOSITE KELLY LANE


GROUND FLOOR & BASEMENT OF TNWER JEWELRY
BUILDING WHICH IS SITUATED ON THE NORTH
EAST CORNER OF BAY AND EAST STREET


STALL #38. WHICH IS SITUATED ARAWAK CAY.
WEST BAY STREET



STALL #38 WHICH IS SITUATED ARAWAK CAY
WEST BAY STREET



A SINGLE STOREY GREEN STONE BLDG. WHICH
IS SITUATED ON THE CORNER OF 9TH TERRACE
EAST & COLLINS AVE OPPOSITE FRANK HANNA
PARKING LOT


A SINGLE STOREY BLDG.. WHICH IS SITUATED
MARKET ST. & BAHAMA AVE



A SINGLE STOREY WHITE WOODEN STRUCTURE
WHICH IS SITUATED GOLDEN ISLES



PART OF A SINGLE STOREY STONE BLDG.
WHICH IS SITUATED #186 EAST STREET ONE
DOOR WEST OF WINDSOR LANE ON THE WEST
SIDE


SHOP #9 NASSAU ARCADE WHICH IS SITUATED
ON BAY STREET WEST OF ELIZABETH AVENUE



SHOP #1 ROOF MASTERS PLAZA WHICH IS SIT-
UATED AT THE CORNER OF CARMICHAEL ANC
BACARDI ROADS


SINGLE STOREY WHITE CONCRETE BUILDING
WHICH IS SITUATED ON MARKET STREET OPP.
BAKER STREET


GROUND FLOOR OF A TWO STOREY BLDG. WHICH
IS SITUATED CROOKED ISLAND ST. FORMERLY
CONTINENTAL CLUB


SINGLE STOREY BUILDING WHICH IS SITUATED
AT #20 WILTON ST EAST OF MOUNT ROYAL AVE



TOP FLOOR OF AND THE COURT YARD OF A TWO
STOREY BLDG. WHICH IS SITUATED CHARLOTTE
STREET SOUTH OF WOODS RODGERS WHARF


TOP FLOOR AND A COURT YARD OF A TWO
STOREY STONE BLDG. WHICH IS SITUATED
CHARLOTTE STREET SOUTH OF WOODS
RODGERS WHARF


TOP FLOOR AND A COURT YARD OF A TWO
STOREY STONE BLDG. WHICH IS SITUATED
CHARLOTTE STREET SOUTH OF WOODS RODGERS
WHARF


A TWO STOREY GREEN/WHITE STONE BLDG.
WHICH IS SITUATED EAST STREET




GROUND FLOOR OF A GREEN/BLUE (ACL LODGE)
WHICH IS SITUATED AT THE CORNER OF EAST
STREET AND CORDEAUX AVENUE


SINGLE STOREY WHITE STONE BUILDING WHICH
IS SITUATED AT THE CORNER OF PALMDALE AV
AND BRADLEY STREET


A SHOP SPACE IN A TRIPLEX ON THE SOUTH
SIDE OF ROUNDABOUT



A SINGLE STOREY BLUE/WHITE STRUCTURE
WHICH IS SITUATED JOHNSON & BRAYNEN ROAD


NAME AND ADDRESS DESCRIPTION LOCATION
OF THE APPLICANT OF LICENCE OF PREMISES


0127 SAMUEL R./TANYA L. BETHEL
BETHEL SAMUEL/TANYA
CARMICHAEL ROAD


0128 SHANIECE M. BOWE-CHAN
MASTERS RESTAURANT & SPORT BAR
FAITH AVE


0129 SHARON MONCUR
MONCUR SHARON
ELIZABETH ESTATES


0130 SHERRY EDGECOMBE
EDGECOMBE SHERRY
CABLE BEACH


0131 WILLIAM STRACHAN
FREED DELIVERANCE CENTRE
WINDWHISTLE STREET


0132 WILLIAM WINTON STRACHAN
FREED DELIVERANCE CENTRE
WINDWHISTLE STREET


FIN/LIC/LAUUo


WHOLESALE LIQUOR




PRuPRIETARY CLUB




RESTAURANT AND BAR




RESTAURANT AND BAR




MUSIC AND DANCE




PROPRIETARY CLUB


A SHOP SPACE WHICH IS SITUATED CARMICHA-
EL RQAD NEXT TO SUBWAY


GROUND FLOOR OF A TWO STOREY YELLOW BLDG
WHICH IS SITUATED FAITH AVE & CARMICHAEL
ROAD


A SHOP SPACE WHICH IS SITUATED IN THE
QUALITY INN HOTEL, WEST BAY STREET



A SINGLE STOREY YELLOW WOODEN STRUCTURE
WHICH IS SITUATED MARKET ST. TWO DOORS
DOWN FROM SMITH'S LIQUOR STORE


TWO WHITE SINGLE STOREY BUILDINGS WHICH
ARE SITUATED AT #12 WINDWHISTLE STREET
HAWKINS HILL


TWO WHITE SINGLE STOREY BUILDINGS WHICH
ARE SITUATED AT #12 WINDWHISTLE STREET
HAWKINS HILL (FORMERLY HENRIETTA NEELY)



VTVIENNE A RAHMING DAVTS
for the Clerk. Licensing Authority


NOTICE OF SITTING OF THE LICENSING AUTHORITY


THE LIQUOR LICENCES ACT CH.372
NOTICE is hereby given that a sitting of the Licensing Authority for NEW PROVIDENCE will be held at the Valuation and Licensing
Unit. Frederick House. Frederick Street on 15 August 2007 at 10:00 o'clock for the purpose of granting licences (and transfers
of licences) under the above Act.

Any person shall be at liberty to oppose the grant of a licence and should do so at least three (3) days before the date set for the
meeting by submitting his/her objection to the applicant and the Licensing Authority.

The public meeting Is scheduled for 4:00 at the Magistrate's Court #7. Bank Lane. Applicants are advised that they need not attend
the public meeting unless they have been notified that there is an objection to the grant of their application. (ALL NEW APPLICANTS
APPLYING FOR A LIQUOR LICENCE NEED TO ATTEND THIS MEETING).

*The undermentioned persons have applied tor tne grant of licences specified below.

RENEWAL APPLICATIONS FOR THE YEAR 2007 LIQUOR LICENCE

NAME AND ADDRESS DESCRIPTION LOCATION
OF THE APPLICANT OF LICENCE OF PREMISES


1254 HENRY J MCINTOSH
HENRY'S
ARAWAK CAY



1255 MOSES C FERGUSON
CAST-AWAY RESTAURANT & BAR
TAYLOR STREET


1256 MOSES C FERGUSON
CAST-AWAY RESTAURANT & BAR
TAYLOR STEET. NASSAU VILLAGE


1257 NOSBIG TRADING BAHAMAS LTD.
NOSBIG TRADING (BAHAMAS) LTD.
DEWGARD PLAZA.. PALMDALE


1258 SARAH J GARDINER
DA LIL HUT CAFE
#38 ARAWAK CAY WEST BAY STREET


1259 SHANIQUE DARYL CLARES MCKENZIE
RED DOOR PACKAGE STORE
WATLING STREET. GROVE


1260 WILLARD J MCKENZIE
ANDROS HIDE OUT
ARAWAK CAY. WEST BAY


RESTAURANT AND BAR






RESTAURANT AND BAR




MUSIC AND DANCE




WHOLESALE LIQUOR




GENERAL LIQUOR (OTHER)


WHOLESALE LIQUOR




RESTAURANT AND BAR


(ARAWAK CAY VENDORS ASSOCIATION)
(STALL #06)
A STRUCTURE WHICH IS SITUATE ON ARAWAK
CAY. WEST BAY


THE GROUND FLOOR OF A TWO STOREY COMPLEX
WHICH IS SITUATE ON TAYLOR STREET
NASSAU VILLAGE


THE GROUND FLOOR OF A TWO STOREY COMPLEX
WHICH IS SITUATE AT TAYLOR STREET
NASSAU VILLAGE


A SHOP SPACE IN THE DEWGARD PLAZA WHICH
IS SITUATED PALMDALE IN THE BACK OF
MCDONALDS RESTAURANT


(ARAWAK CAY VENDORS ASSOCIATION STALL 38
STRUCTURE WHICH IS SITUATE ON ESPLANADE
WAY NEAR ARAWAK CAY. OFF WEST BAY STREET


A SINGLE STOREY STONE BUILDING WHICH IS
SITUATED ON WATLING STREET



(ARAWAK CAY VENDORS ASSOCIATION)
(STALL #28)
A STRUCTURE WHICH IS SITUATE ON ARAWAK
CAY. WEST BAY STREET




VIVIENNE A RAHMING DAVIS
for the Clerk. Licensing Authority


FIN/LIC/LA006 "

NOTICE OF SITTING OF THE LICENSING AUTHORITY
-----------------------

THE SHOP LICENCES ACT Ch.377


NOTICE is hereby given that a sitting of the Licensing Authority for NEW PROVIDENCE will be held at the Valuation and Licensing
Unit. Frederick House. Frederick Street on 15 August 2007 at 10:00 o'clock for the purpose of granting licences (and transfers
of licences) under the above Act.

Any person shall be at liberty to oppose the grant of a licence and should do so at least three (3) days before the date set for the
meeting by submitting his/her objection to the applicant and the Licensing Authority

The public meeting is scheduled for 4:00 at the Magistrate's Court #7. Bank Lane. Applicants are advised that they need not attend
the public meeting unless they have been notified that there is an objection to the grant of their application.


*The undermentioned persons have applied for the grant of licences specified below.


NEW APPLICATIONS FOR THE YEAR 2007


NAME AND ADDRESS
OF THE APPLICANT


0385 A ONE DIVINE AUTO SALES LTD.
A ONE DIVINE AUTO SALES LTD
EAST STREET SOUTH


SHOP LICENCE

DESCRIPTION LOCATION
OF LICENCE OF PREMISES


AUTOMOBILE SALES:NEW &/OR USED


AN OFFICE SPACE & VACANT LOT AT THE
SOUTHLAND SHOPPING CENTRE WHICH IS
SITUATED WESTERN SIDE EAST STREET SOUTH
(Continued)


--


II i I I I I I









PAGE ,J ESDAY, AUGUST 7, 2007 THE TRIBUNE

S .


NAME AND ADDRESS
OF THE APPLICANT


0386 ALVA THGnir uN
VENDOR-MART WHOLESALE CO
CORDEAUX AVENUE




0387 ANDRE HORTON
INVINCIBLE HANDS HAIR & NAIL S
EASTWOOO ESTATES


0388 ANTIONETTE L. ROLLE
D & K BEAUTY SUPPLY & SNACKS
MARKET STREET


0389 BUDDY/DANNY MCCAROY
MARKET STREET




0390 CHENA SCOTT
SCOTT'S
BLUE HILL ROAD



0391 COFFE CAY LTD.
STARBUCKS COFFEE
MARATHON



0392 CURTIS JARAN DORSETT
DORSETT JARAN CURTIS
PASTEL GARDENS


0393 DELLARESE WILLIAM-HOMES
HAIR IMPRESSIONS
SOLDIER ROAD


0394 DERWIN HIGGS/KENO SYMONETTE
NU LOOK CLOTHING CO.
EAST STREET, SOUTH




0395 DONALD/MARJORIE BAIN
BEANIE'S TAKE AWAY
WINDSOR LANE


0396 DONNISHA ARMBRISTER
PICTURESQUE ART BOUTIQUE
BAY STREET


0397 DOROTHY CULMER
CULMER DOROTHY
NASSAU VILLAGE


0398 EMILY MOXEY
NICOLA CONVENIENCE STORE
BERNARD ROAD


0399 EMMANUEL SALVANT
SALVANT EMMANUEL
TALL PINES


0400 FREDERICK WRIGHT
BAHAMAS FIRE & SAFETY PROTECT
AIRPORT INDUSTRAIL PARK


0401 GINETTE STRAUB
GIGI BOUTIQUE & MULTI SERVICES
ROBINSON ROAD


0402 HUBERT WEMYSS
WEMYSS HERBERT A




0403 HUGHIE EMMANUEL TUCKER
NATURAL STYLES BEAUTY SALON &
CARIBBEAN GARDEN




0404 IDAMENE DEVEAUX
SNACKS FOODS E.T.C.
CARMICHAEL ROAD


0405 IRENE DENZELLA KNOWLES
KNOWLES DENZELLA IRENE
GRANTS TOWN




0406 JAMAL JONES
JONES J^AMAL
CABLE BEACH


0407 JUDYANN MUSGROVE
FOOTLOOSE SHOE STORE
KENTWOOD STREET


0408 JUDYMAE GARDINER STRACHAN
MERCIES HAIR AND NAIL SALON
POINCIANA AND COCONUT GROVE





0409 JULIA MEADOWS
GENESIS ENTERPRISES
CROOKED ISLAND STREET


0410 KAREN DARLING MORRIS
TIARA'S TAKE-A-AWAY
ELIZABETH ESTATES


0411 KAROLACH CO. LTD.
MUCKA-MUCKS
SOUTH BEACH


0412 LAVEIN NAIRN
BAHAMIAN SOUSE HOUSE
SHIRLEY STREET


0413 LAVONNE ANNICE NEWBOLD HARRIS
CORPORATE GIFT & AWARDS CENTRE
GOLDEN GATES



0414 LEHENZOR BAIN
SHREDDERS
MOUNT ROYAL AVENUE


DESCRIPTION
OF LICENCE


WHOLESALE SNACK SALES
RETAIL SNACKS & BEVERAGES


BEAUTY SALON





BEAUTY SUPPLIES/PRODUCTS
SALE OF HAIR. BEAUTY PRODUCTS A NOTIONS




TAKEAWAY RESTAURANT





C2 PHARM-WITHOUT PHARMACIST
PHARMACY SALE OF RELATED ITEMS




COFFEE/HOT BEVERAGE SUPPLY
RELATED ITEMS & SNACKS




VEHICLES. PARTS & ACCESSORIES
TO INCLUDE CAR RENTAL & CAR WASH




BARBER SHOP &/OR RELATED SRVCS
RELATED ITEMS




CLOTHING AND/OR ACCESSORIES






TAKEAWAY RESTAURANT





PORTRAIT STUDIO & RELATED ITEM
SALE OF ARTWORK




PETTY SHOP





BEAUTY SUPPLIES/PRODUCTS





BEAUTY SUPPLIES/PRODUCTS





FIRE &SAFETY SUPPLIES/SERVICES





CLOTHING ANDIOR ACCESSORIES
TO INCLUDE GENERAL MERCHANDISE



HAIR PRODUCTS AND ACCESSORIES
SALE SHOES




BEAUTY SALON
SALE OF RELATED ITEMS





SNACK FOOD ITEMS





TAKEAWAY RESTAURANT-






PHOTOGRAPHY STUDIO





SHOE SALES AND/OR ACCESSORIES
SALE BAGS




HAIR AND/OR NAIL SALON
TO INCLUDE HAIR ACCESSORIES. BEAUTY
PRODUCTS & NOTIONS SNACK & SOFT DRINKS





TAKEAWAY RESTAURANT





TAKEAWAY RESTAURANT





CLOTHING AND/OR ACCESSORIES
SALE BAGS. BELTS ETC.



TAKEAWAY RESTAURANT





AWARDS/TROPHIES/PLAQUES/ ETC.
GIFT AND SOUVENIOUR


COMPUTER SOFTWARE
RETAIL SALES COMPUTER LEARNING CD'S/DVDS
ORIGINAL SALES CO'S/DVD'S &/OR RECORDING
INTERNET CAFE' & POTABLE ELECTRONIC ITEMS


LOCATION
OF PREMISES


GROUND FLOOR OF A TWO STOREY LIGHT BLUE
BLDG. WHICH IS SITUATED CORDEAUX AVENUE
MIAMI STREET ACROSS FROM SMILEY'S
RESTAURANT & BAR


A SINGLE STOREY STONE LIGHT BROWN/WHITE
BLDG. WHICH IS SITUATED EASTWOOD ESTATES
FIRST HOUSE ON RIGHT


SINGLE STOREY STONE LIME GREEN/WHITE
WHICH IS SITUATED MARKET STREET OPPOSITE
FIVE POURCHES CHURCH


AS SINGLE STOREY WHITE STONE BLDG..WHICH
IS SITUATED MADERIA ST NEXT TO MCDONALDS




GROUND FLOOR OF A UNPAINTED STONE BLDG.
WHICH IS SITUATED ON THE CORNER OF BLUE
HILL ROAD OPPOSITE B.T.C. TRANSFORMER



A SHOP SPACE IN THE MALL AT MARATHON
WHICH IS SITUATED MARATHON & ROBINSON
ROADS


A TRAILER WHICH IS SITUATED ROBINSON RD.
OPPOSITE HOME FABRICS




GROUND FLOOR OF A TWO STOREY STONE PINK
BLDG. WHICH IS SITUATED SOLDIER ROAD
WEST ADJACENT SOUTHLAND CHURCH OF GOD


GROUND FLOOR OF A TWO STOREY STONE PINK
TRIM WHITE BLDG. KNOWN AS EAST STREET
SOUTH PLAZA WHICH IS SITUATED EAST
STREET SOUTH


A SINGLE STOREY GREEN BLDG.. WHICH IS
SITUATED WINDSOR LANE WEST




A SHOP SPACE IN THE INTERNATIONAL BAZAAR
WHICH IS SITUATED BAY STREET




PORTION OF A SINGLE STOREY BLDG. WHICH
IS SITUATED NASSAU VILLAGE




SINGLE STOREY STONE PEACH PLAZA WHICH
IS SITUATED BERNARD ROAD THREE BLDGS.
AFTER KINGSWAY ACADEMY


GROUND FLOOR OF A TWO STOREY WHITE STONE
BLDG. WHICH IS SITUATED ON NASSAU STREET
OPPOSITE BAMBOO SHACK


A SINGLE STOREY GREY BLDG. LOT #15 WHICH
IS SITUATED AIRPORT INDUSTRIAL PARK NEXT
TO NINE TO FIVE & GLOBAL TRADING


A SINGLE STOREY WHITE STONE BLDG. WHICH
IS SITUATED 5TH STREET ROBINSON ROAD
OPPOSITE RANDY CURTIS FUNERAL HOME


A TWO STOREY GRAY/WHITE TRIM BLDG. #7
WHICH IS SITUATED JEROME AVENUE &
CAMPBELL STREET



TOP FLOOR OF A TWO STOREY PEACH TRIM
WHITE OPPOSITE THE NEW CHECKERS CAFE
WHICH IS SITUATED CARMICHAEL ROAD OPP.
TURTLE DRIVE


A SINGLE STOREY BLDG. WHICH IS SITUATED
ON THE CORNER OF CARMICAEL & BARCARDI
ROADS


SINGLE STOREY LIME GREEN & YELLOW WOODEN
STRUCTURE WHICH IS SITUATED SOLDIER ROAD
THREE BLDGS. FROM NASSAU CHRISTIAN
ACADEMY


SHOP SPACE IN THE WYNDHAM NASSAU RESORT
WHICH IS SITUATED WEST BAY ST




A SHOP SPACE #1 IN THE DORIS PLAZA
BLDG. (YELLOW) WHICH IS SITUATED AT THE
CORNER OF KENWOOD & MOUNT ROYAL AVENUE


GROUND FLOOR OF A TWO STOREY STONE
YELLOW TRIM BROWN WHICH IS SITUATED #282
MARKET STREET SOUTH POINCIANA AND
COCONUT GROVE OPPOSITE FIVE PORCHES
CHURCH


GROUND FLOOR OF A TWO STOREY PEACH BLDG.
WHICH IS SITUATED CROOKED ISLAND #63
BALFOUR AVENUE


SINGLE STC"EY STONE BUILDING WHICH IS
SITUATED ON SEVENTH STREET COCONUT GROVE
NEXT TO T.B.N.


A SHOP SPACE IN SOUTH BEACH SHOPPING
CENTRE WHICH IS SITUATED SOUTH BEACH


GROUND FLOOR OF A TWO STOREY SONE BLUE
BLDG. WHCIH IS SITUATED AT THE CORNER OF
HAWKINS HILL & SHIRLEY STREET



SHOP #2 THE THOMPSON BUILDING WHICH IS
SITUATED ON ROSETTA STREET




GROUND FLOOR OF A TWO STOREY BROWN/WHITE
STONE BLDG. WHICH IS SITUATED MOUNT
ROYAL AVENUE AFET PASSING APEX AWARD.
5TH BUILDING ON THF IFFT HAND SIDE


NAME AND ADDRESS
OF THE APPLICANT


0415 LESILE DEVEAUX CL
JZ HOT COUTURE
COWPEN ROAD


0416 LUCNER MICHEL BA
MKV BARBER SHOP
#53 BALFOUR AVENUE


0417 MARIA PATRICE ADDERLEY CL
PERTTY YOUNG THANG
EAST STREET


0418 MARQUIN BLACK CO
INK DEPOT & PC PITSTOP SA
CARMICHAEL ROAD


0419 MARQUIN BLACK CO
INK DEPOT & PC PITSTOP IN
PRINCE CHARLES DRIVE




0420 MARTIN GIBSON RE
BRAVE RESTAURANT
JOAL ALLEY


0421 MAUDCO GROUP COMPANY EL
TRI-VISION HO
SOLDIER ROAD AN


0422 MCFALL VERNAL CO
KEY WEST CONVENIENCE STORE SA
KEY WEST STREET



0423 MCKAY A./ADDERLEY A./BROWN S.
SULTRY BOUTIQUE
MADERIA STREET


0424 MEARS LIMITED
BAHAMAS PAINT DEPOT
CABLE BEACH




0425 MICHAEL W. FRANCIS
MIKE AND THEA'S FRUIT MARKET
CORDEAUX AVENUE




0426 MICHELLE KELLY
SHELLY GLAMOROUS BAGS & NOTION
ROBINSON ROAD


0427 MICHELLE M. KELLY
MCKELL'S
MACKEY STREET




0428 MICHELLE M. KELLY
MCKELL'S
ROSEDALE ROAD




0429 NASSAU UNDERSEA ADVENTURES LTD
CABLE BEACH WATERSPORTS
WEST BAY STREET


0430 NATHANIEL I. HANNA
DENIM GALLERY
BAY STREET


0431 NEVIS FERGUSON
MR.J
MACKEY STREET


0432 OCTAVIS MISSICK
MATERNALLY YOU
MONASTERY PARK



0433 QUAID ROBINSON
JUST CAPS
#3 FORG AVE. KENNEDY SUB


0434 RENENCHA L. SAUNDERS
SAUNDERS L. RENENCHA
BAIN TOWN


0435 ROWENAMAE STRACHAN
SCHAMMA
ST. JAMES ROAD


0436 RUBEAN JOSEPH
UP TOP FASHIONS
EAST STREET SOUTH


0437 SAMUEL JAMES HALL
HALL JAMES SAMUEL
FOX HILL


0438 SANDRA Y. DENIS
DENIS SANDRA YVONNE
3RD STREET. COCONUT GROVE




0439 SECURITY PLUS LIMITED
MARATHON ROAD




0440 SHAKIRA FERGUSON
KERA'S HAIR CARE AND BEAUTY SU
MONTROSE AVENUE


0441 SHEENA MARIE / HAZEL ALBERTHA
THE ALLIANCE DEPOT


#32 MILLARS HIEGHTS


0442 SIMON/JOAN SMITH
REAL FOOD CARIBBEAN
NASSAU VILLAGE


0443 STEPHANIE ARITIS
UNIVERSAL HAIR & BEAUTY SUPPLY
CARMICHAEL ROAD


DESCRIPTION
OF LICENCE


NOTHING AND/OR ACCESSORIES





RBER SHOP &/OR RELATED SRVCS





NOTHING AND/OR ACCESSORIES





MPUTER ACCESSORIES/SUPPLIES
,LE INK. INK PRODUCTS.COMPUTER SERVICES




MPUTER ACCESSORIES/SUPPLIES
IK. INK PRODUCTS. COMPUTER SERVICES





STAURANT





.ECTRONIC ITEMS/SUPPLIES
iME ENTERTAINMENT MUSIC/MOVIES SUPPLIES
ID APPLIANCES


INVENIENCE STORE
ALE OF TOBACCO




CLOTHING AND/OR ACCESSORIES





HARDWARE SALES AND SERVICE'
MANUFACTURE OF PAINTS/VARNISHES/INK
PAINT & RELATED SUPPLIES; GARDEN SUPPLY
&/OR SERVICES HOUSEHOLD GOODS


FRUITS/VEGETABLES/PRODUCE ITEM
AND SNACKS





CLOTHING AND/OR ACCESSORIES





CONVENIENCE STORE






TAKEAWAY RESTAURANT






DIVING SUPPLIES
SALE BEACH APPAREL & RELATED ITEMS




CLOTHING AND/OR ACCESSORIES
SALE OF DRY GOODS & SHOES




CONVENIENCE STORE


MATERNITY WEAR & RELATED ITEMS





CLUIHINU AND/OR ACCESSORIES





TAKEAWAY RESTAURANT





TAKEAWAY RESTAURANT





CLOTHING AND/OR ACCESSORIES
MEN CLOTHING/TENNIS SHOES & ACCESS(




ELECTRONIC ITEMS/SUPPLIES





BARBER SHOP &/OR RELATED SRVCS






SECURITY SUPPLIES A/OR SYSTEMS





BEAUTY SALON
SALE OF RELATED ITEMS SNACKS/SOFT




APPLIANCES





TAKEAWAY RESTAURANT





HAIR & BEAUTY ITEMS/ACCESSORY


LOCATION
OF PREMISES


TWO STOREY PINK/YELLOW BLDG. WHICH IS
SITUATED SOLDIER ROAD RIGHT BEFORE
NASSAU CHRISTIAN ACADEMY


GROUND FLOOR OF A TWO STOREY GRAY BLDG.
WHICH IS SITUATED KEY WEST STREET




A SINGLE STOREY STONE WHITE BLDG. WHICH
IS SITUATED MADERIA STREET OPPOSITE
HOME FABRICS


A SHOP SPACE #4 IN THE FICINITY OF CITY
MARKET FOOD STORE WHICH IS SITUATED
IE CABLE BEACH



A SHOP SPACE #1 ON THE GROUND FLOOR OF
A TWO STOREY STONE BLDG. KNOWN AS THE
PLAZA ON THE WAY WHICH IS SITUATED
CORDEAUX AVENUE & MARKET STREET


A SINGLE STOREY YELLOW/WHITE STONE BLDG.
WHICH IS SITUATED ROBINSON RD NEXT TO
FOOTSY'S


PART OF A SINGLE STOREY STONE GREY BLDG.
WHICH IS SITUATED ROSEDALE ROAD OFF
MACKEY STREET OPPOSITE F.N.M.
HEADQUARTERS PARKING LOT


PART OF A SINGLE STOREY STONE GREY BLDG.
WHICH IS SITUATED ROSEDALE ROAD OFF
MACKEY STREET OPPOSITE F.N.M.
HEADQUARTERS PARKING LOT


A SHOP SPACE IN THE WYNDAM BEACH HOTEL
WHICH IS SITUATED CABLE BEACH




SHOP SPACE #3 IN THE PRINCE GEORGE PLAZA
WHICH IS SITUATED BAY STREET




SINGLE STOREY STONE PINK/WHITE TRIM
WHICH IS SITUATED ROYAL PALM CULMERSVILL
OFF MACKEY STREET


SHOP SPACE #6 AT THE CLONARIS BUILDING
WHICH IS SITUATED AT #354 COLLINS AVENUE




SINGLE STOREY TILED (BROWNISH/GRAY)STONE
BUILDING WHICH IS SITUATED ON MARATHON
ROAD SOUTH OF SHELL WULFF ROAD


A TWO STOREY PINK STONE BLDG.. WHICH IS
SITUATED FINALYSON STREET. BAIN TOWN




SINGLE STOREY STONE BLUE TRIM WHITE
WHICH IS SITUATED SAINT JAMES ROAD




GROUND FLOOR OF A TWO STOREY PEACH
BROWNISH BLDG. WHICH IS SITUATED EAST
STREET SOUTH OPPOSITE AUDLEY KEMP


A SINGLE STOREY BEIGE STONE BLDG.. WHICH
IS SITUATED ON THE CORNER OF BERNARD RD.
GRANT STREET


SINGLE STOREY STONE GREEN BLDG. WHICH IS
SITUATED ON THE NORTH EASTERN CORNER OF
COCONUT GROVE AVENUE & THIRD STREET. THE
GROVE


A SHOP SPACE TN THE KELLY BAKERY BLDG.
WHICH IS SITUATED MARATHON ROAD




A SINGLE STOREY STONE WHITE DUPLEX BLDG.
WHICH IS SITUATED MONTROSE AVENUE AND
LUDLOW STREET


SHOP SPACE SINGLE STOREY TAN BUILDING
WHICH IS SITUATED ON GOLDEN ISLES ROAD
OPPOSITE THE DETENTION CENTER


A SINGLE STOREY YELLOW STONE BLDG. WHICH
IS SITUATED TAYLOR STREET. NASSAU VILLAGE




A SHOP SPACE IN A SINGLE STOREY BLOG .
WHICH IS SITUATED ABBIE CLOSE & CARMICH-
AFL ROAD
(Continued)


- L


SINGLE STOREY STONE YELLOW/GREEN BLDG.
WHICH IS SITUATED FAITH AVENUE SOUTH
AND COWPEN ROAD


GROUND FLOOR OF A TWO STOREY BLUE STONE
BLDG. WHICH IS SITUATED #53 BALFOUR AVE.
& WASHINGTON STREET


TOP FLOOR OF A TWO STOREY PEACH BLDG.
WHICH IS SITUATED BRENNEN BLDG. EAST
STREET OPPOSITE STARDUST


TOP FLOOR OF A TWO STOREY STONE BLDG.
WHITE TRIM GRAY WHICH IS SITUATED
CARMICHAEL ROAD & FAITH AVENUE INTERSECT


TOP FLOOR IN THE DA MARKET PLAZA A
YELLOW SPLIT LEVEL WHICH IS SITUATED
PRINCE CHARLES DRIVE THREE BLDGS. EAST
OF DORIS JOHNSON SCHOOL


A SINGLE STOREY STONE GRAY/RED BLDG.
WHCIH IS SITUATED EAST STREET NORTH &
JOAL ALLEY









GN-547


GOVERNMENT NOTICE

Ministry of Finance Licencing Authority

Notice Of Sitting Of The Licensing Authority


NAME AND ADDRESS DESCRIPTION LOCATION
OF THE APPLICANT OF LICENCE OF PREMISES

0444 STEPHANIE/SHERLOCK LOCKHART CLOTHING AND/OR ACCESSORIES SINGLE STOREY STONE BEIGE TRIM WHITE
RAVEN'S CLOTHING & STUDIO SALE OF SHOES & BAGS BLDG. WHICH IS SITUATED MOUNTROSE AVENUE
#13 PASSION DR EASTWOOD EST AT THE BACK OF FEM BLDG.

,445 STEPHEN CHRISTOPHER STUART SHOE SALES AND/OR ACCESSORIES A THREE STOREY YELLOW TRIM WHITE BLDG.
STUART STEPHEN CHRISTOPHER SALES ELECTRONIC TOYS, L.C.D. T.V. WHICH IS SITUATED BLUE HILL ROAD & KING
BULE HILL ROAD STREET FORMERLY ZAZABAR

0446 STEPHEN MICHAEL MACKEY PHOTOGRAPHS &/OR PICTURE SALES A YELLOW TRIM WITH WHITE BLDG. WHICH IS
MACKEY MICHAEL STEPHEN SITUATED WEST OF GLADSTONE ROAD 2ND
CARMICHAEL ROAD CORNER ON THE LEFT AFTER SPIKEYARD ROAD
THIRD BLDG. ON THE RIGHT

0447 TALIA OLIVIA WILLIAMS BARBER AND/OR BEAUTY SHOP SINGLE STOREY STONE ORANGE/PEACH BLDG.
GIBSON TALIA WHICH IS SITUATED BLUE HILL ROAD SOUTH
BLUE HILL ROAD SOUTH NEXT TO SECURITY WORLD

0448 TANYA KLONARIS BARBER AND/OR BEAUTY SHOP A SHOP SPACE ON THE CORNER OF BAY STREET
MY OCEAN MANUFACTURING & SALES OF SOAPS, AND VICTORIA AVENUE
BAY STREET CANDLES AROMATHERAPHY. TEXTILES.
DECOR. CERAMICS

SINGLE STOREY STONE PURPLE BLDG. WHICH
0449 TEAVIS EMMANUEL DELEVEAUX CLOTHING AND/OR ACCESSORIES SI SITUATED ONE CORNER OF ROBINSON
DELEVEAUX TEAVIS SALE HANDBAGS. SHOES SIT TE THE RER R S
#180 SOUTH BEACH DR

OCEY ITEMS GROUND FLOOR OF A TWO STOREY YELLOW/
0450 THEOPHILUS KNOWLES GRSALE OF DCERY ITEMGOODS WHITE BLDG. WHICH IS SITUATED NASSAU
D & T COMPANY SALE OF DRY GOODS
STREET TWO DOORS NORTH FROM THE CONVENT
NASSAU STREET

0451 TITUS CHUKWU NWAOZOR C1 PHARMACY-REG. PHARMACIST HE TOP OORA KOWP A FERGGIES MEAI
TOTAL THERAPY PHARMACY DRUGS NOTIONS AND CONVENANCE WHITE TRIM ORANGE OPPOSITE K.F.C. WHICH
IS SITUATED ON EAST STREET, SOUTH
MARATHON ESTATES STORE ITEMS

0452 TKENA SHAKSA FOX CLOTHING AND/OR ACCESSORIES GROUND FLOOR OF A TWO STOREY BEIGE &
0452 TOKENA SHAKISA FOXLADIES SHOES & R ELATED ITEMS TAUPE COLOR WHICH IS SITUATED FARRINGTON
FOX TOKENA SHAKISA LADIES SHOES & RELATED ITEMS R F IG M S O EL
ROAD FACING MINISTRY OF HEALTH
NAIRN'S GARDEN.OFF COW PEN RD

TOP FLOOR OF THE DARFIELD PLAZA WHICH IS
0453 TONIA KNOWLES/VANESSA/AUDRA .SPA SERVICES STATED ADERIA TREET PA
SITUATED MADERIA STREET PALMDALE
NATURES SPA ADJACENT TO HOME FABRICS
PALMDALE

GROUND FLOOR OF A TWO STOREY GRAY. BLDG.
0454 URIAH ALEXANDER DAVIDSON BARBER SHOP &/OR RELATED SRVCS GROUND FLOOR OF A TWO STOREY GRAYVBLDG
WHICH IS SITUATED#32 ROOSEVELT AVENUE
A.F.C BARBER SHOP .TWO DOORS FROM TOYA'S TYPING SCHOOL
#32 ROOSEVELT AVENUE
VIVIENNE A RAHMING DAVIS






f*. A 1*.





EMPLOYMENT OPPORTUNITY

SECURITIES COMMISSION OF THE BAHAMAS

The Securities Commission of The Bahamas (the Commission), a
statutory agency responsible for the oversight, supervision and regulation
of the investment funds, securities and capital markets in or from The
Bahamas, invites applications from qualified Bahamians for the
following position:

Field Examiner
Responsibilities:
Conducting on-site inspections of entities licensed or registered by
the Commission
Assisting in the enforcement process addressing deficiencies identified
in the inspection


Qualifications and Experience:
Bachelor's degree in Accounting or Finance
1 2 years experience in Auditing or Public Accounting
Knowledge of the securities industry a plus.


Competencies:
Excellent oral and written communication skills
Proficient in computer skills (Microsoft Office applications, particularly.
Word and Excel)


Bahamas First




launching new





service to help





process claims


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
A Bahamian insur-
ance company is
launching a new
service to help
process accident claims, with
hopes that the service will ulti-
mately reduce the claims pro-
cessing and administration
time and cost.
Patrick Ward, president of
Bahamas First General Insur-
ance (BFG), told Tribune
Business that this was the first
service of its kind to be offered
in.New Providence.
First Response is an exclu-
sive accident assistance service








I,]IGU TN


offered at no cost to drivers
whose vehicles are insured
through authorisied agents of
Bahamas First
The service, Mr Ward said,
will facilitate the turnaround
time for processing claims by
providing some of the proce-
dures involved directly at the
scene of the accident.
Accident
"We know that when an
accident happens, the involved
parties may be injured, angry
or confused. Any of these con-
ditions will distort perspective
and impair one's ability to
make good decisions to pro-
tect one's interest," Mr Ward
added. '
"Having a service such as
this provides the peace of mind
that comes with the knowledge
that there will be someone in
your corner when you may not
be functioning at your best."
He said this will prove
extremely beneficial to persons
who drive alone, regularly,
women and older drivers.
According to Mr Ward,
when an accident occurs, a call
is made to the First Response
hotline and a van is dispatched
to the scene, where trained
professionals take control of
the situation.
"The First Response team
notifies police, if they are not


already present, and calls an
ambulance if required. Next,
they ensure the safety of all
persons involved and secure
all valuables in the in the vehi-
cle," Mr Ward said.
"Once those initial details
are taken care of, the team's
focus shifts to recreating the
accident and estimating dam-
ages. Statements are taken and
information is exchanged,
while a trained engineer pho-
tographs the scene and exam-
ines the vehicles. A claim is
then filed and a repair estimate
prepared on the spot."
The company currently has
more than 40,000 automobile
policyholders. Mr Ward told
The Tribune that Bahamas
First had hired several addi-
tional employees to assist in
the claims and hotline process,
and they are confident they
can meet the demand the ser-
vice may generate without hav-
ing to increase insurance pre-
miums.
'We think that we cannot
only reduce the overall claims
time, but in the process reduce
our claims cost because it will
eliminate delays in settling
claims," he said.
Mr Ward added that First
Responders had engaged in
ongoing consultation with the
police and ambulance services
in New Providence in devel-
oping the programme..


The Ministry of Education, Youth, Sports & Culture
qualified firms to submit bids to provide security services
schools/facility in New Providence


invites suitably
at the following


Government High School
R.M. Bailey Sr. High School
C.R. Walker Sr. High School
C.V. Bethel Sr. High School
C.I. Gibson Sr. High School
C.H. Reeves Jr. High School
L.W. Young Jr. High School
H.O. Nash Jr. High School
C.C. Sweeting Jr. High School
C.C. Sweeting Sr. High School
S.C. McPherson Jr. High School
Thelma Gibson Primary
Columbus Primary School
Learning Resources Section

Tender Documents outlining the scope of services may be obtained from the
Physical Plant Section located on the 2nd Floor North East Wing in the
Ministry of Education, Youth, Sports & Culture Headquarters, Thompson
\Boulevard, between the hours of 9:00 a.m. to 5:00 p.m. Monday through Friday.

Tenders must be submitted in scaled envelopes marked "Tender for Security
Services" and delivered on or before Monday, 13th August, 2007 to:-

Tenders Board
Ministry of Finance
Cecil Wallace Whitfield Centre
Cable Beach
P.O. Box N3017
Nassau, The Bahamas

The Tenders Board reserves the right to reject any or all Tenders.


Government Notice

Ministry of Education, Youth, Sports & Culture
Tender for Security Services


A competitive salary and benefits are being offered. Interested persons
should submit applications in writing marked "Private and Confidential"
to:


MANAGER CORPORATE AFFAIRS
SECURITIES COMMISSION OF THE BAHAMAS
P. O. BOX N-8347
NASSAU, BAHAMAS
Fax: 356-7530
E-Mail: info@scb.gov.bs

Applications should be received no later thanAugust 15, 2007


.... ., -,, AUGUST 7, 2007, PAGE 15B


THE TRIBUNE






THE TRIBUNE


PAGE 16B, TUESDAY, AUGUST 7, 2007


Sir Jack offers no defence


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
The Grand Bahama
Port Authority
(GBPA) ownership
trial concluded in
the Supreme Court last week
without the attorney for Sir
Jack Hayward presenting a
defence or cross examining any
of the witnesses.
Senior Justice Anita Allen
summoned Gregory Moss to
court last Friday to give him a
final opportunity to participate
in the trial.
At the trial's start on
Wednesday, Mr Moss had told
the court he had been instruct-
ed by his client not to partici-
pate in the case because they
were denied an adjournment
sine die, on the grounds that
Sir Jack was unable to fly to
Nassau because of heart prob-
lems.
On Friday, Justice Allen told


Mr Moss that she was extreme-
ly disappointed by his conduct.
Nevertheless, she said in the
interests of justice and the right.
of the defence to have their
case presented in court, she
was doing everything in her
power to ensure they did
everything to try the case as if
Sir Jack were physically pre-
sent.
She informed Mr Moss that
she had put the witnesses on
notice that they might be
recalled should the defence
wish to cross examine them as
early as tomorrow, and said
she would adjourn to give him
time to consult his client.
However, Mr Moss said his
instructions had not changed
and that they would save their
applications for another place.
With that, the plaintiffs
called their final witness,
Christopher Cafferata, one of
the three executors for the
estate of the late Edward St
George.


According to Mr Cafferata.
on October 23, 2006, Sir Jack
asked him to attend a meeting
at his office. Present at the
meeting were Sir Jack, his
attorney Mr Moss, Ian Barry,
the GBPA's chief financial
officer, and Patty Bloom.
Mr Cafferata said Sir Jack
then told him that he owned a
75 per cent stake in the Grand
Bahama Port Authority, and
presented him with a paper
that Mr Moss said showed how
the ownership structure
worked.
Mr Cafferata said that both
he and Mr Barry were in an
"advanced state of shock" at
the announcement.
He added that Sir Jack then
said to Mr Barry: "You should
be pleased. This ends your
problems." Mr Cafferata also
told the court that Sir Jack told
Mr Barry: "You hoodwinked
me into signing that docu-
ment," an apparent reference
to a January 6, 2005 document.
Mr Cafferata further told the
court that Mr Moss subse-
quently provided him with a
copy of the document.
Mr Cafferata,added that he
and the St Georges were very
anxious to see a solution to the
court case, as it has been very
stressful for all involved.
He added that Freeport
,having suffered so badly in'


2004-2005, remains in sus-
pended animation while the
matter is being dealt with.
In his closing summation,
attorney Fred Smith took the
court through the document-
ed evidence involving the one
share in Fiduciary Manage-
ment Services (FMS) the
company alleged to hold the
estate's 50 per cent GBPA
stake in trust which was held
in nominee, and which was
subsequently turned over to
Sir Jack by Don de la Rue, giv-
ing the former majority own-
ership.
Mr Smith said it was an
absurd suggestion that owner-
ship in FMS translated into
direct ownership of shares in
Intercontinental Diversified
Corporation, the holding com-
pany for the GBPA.
Harvey Tynes, QC, in his
summation told the court that
the plaintiffs had kept their
promise to prove their case.
He said there was no
attempt by the defence to dis-
credit any of the witnesses'
credibility, the substance of
their testimony, or to challenge
the documentary evidence
which was presented.
Justice Allen told the court
she would give a ruling in
about two weeks, although the
parties are to meet in her
chambers tomorrow.


$6.9m tax write-offs

FROM page 1 off that operator Isle of Capri
obtained from the Govern-
ment, as adjusted operating
income for the year to April 29, 2007, more than doubled to
$7.587 million despite a 34 per cent fall in net revenues.
The agreement that Isle of Capri hammered out with the
former Christie administration and Hutchison Whampoa
to keep it on Grand Bahama paid immediate and spectacu-
lar dividends for the gaming operator, as it allowed it to
reverse $9.4 million in prior-year expenses, the vast major-
ity of which were the $6.9 million in taxes owed to, but
written off by, the Government.
The tax write-off appears to have filtered down straight
away to Isle of Capri's bottom line, with the Government
prepared to sacrifice the majority of some $10 million in
unpaid gaming taxes to preserve some 260 Bahamian jobs
and the operator's presence in Freeport just ahead of the
May 2 general election.
For the three months to April 29, 2007, Isle-Our Lucaya
saw its adjusted operating income hit $11.664 million, giving
it an adjusted operating income margin of 224.4 per cent on
net revenues of just $5.198 million.
The net revenues for the 2007 fourth quarter were almost
a 30 per cent decline on the $7.414 million generated during
the comparative period in 2006. Yet the previous year Jsle-
Our Lucaya produced an operating profit of just $1.215
million and a 16.4 per cent margin, figures that are both
dwarfed by their 2007 counterparts.
The fourth quarter impact filtered through into the 2007
full year results, with Isle-Our Lucaya producing a 12-month
operating profit of $7.587 million and operating income
margin of 45.2 per cent.
Again, this was despite an almost 34 per cent decline in net
revenues, which had fallen to $16.777 million compared to
the $25.349 million generated in fiscal 2006. Despite the
greater revenues, in 2006 Isle-Our Lucaya was able to only
generate operating income for the full year of $2.968 million
- less than half 2007's outcome and an 11.7 per cent mar-
gin. Apart from reversing $6.9 million in accrued gaming tax-
es, the deal with the Government also allowed Isle of Capri
to reverse a $1.5 million allowance it had made against
some $1.5 million in marketing support that it had expected
to receive from the administration.


Bahamasair & Thrifty Car Rental

Special!

Take Advantage of..


Florida's TAX FREE

Shopping Weeki


August 4-4i 1




Airfare & Car


Package


We don't just fly here. We live here.
'k


0-


Airfare is based on 2 persons
traveling
Taxes are not included and
some restrictions apply




Contact your Travel Agent or
Bahamasair Reservations at
1-242-377-5505
Family Island
1-242-300-8359

.,JJ,.i 7
i2w J"t /,
d (',.


www.bahamasair.com


J I .
., -', -


"'i I I I Iit', the needs of advertisers
and readers motivates me to do
a. good job. The Tribune is
iln newspaper,
ESTHER BARRY
PRODUCTION MANAGER
THE IlLUUtJIN



Tile Tribune

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BUSINESS


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