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Permanent Link: http://ufdc.ufl.edu/UF00084249/02984
 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: 9/11/2007
 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_02984
System ID: UF00084249:02984

Full Text





A




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The Tribune

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BAHAMAS EDITION


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Volume: 103 No.242


TUESDAY, SEPTEMBER 11, 2007


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M By KARIN HORIG
Tribune Staffj Reporte
kherig@tribune nedia.net
A 15-YEAR-OLD male"tu-
dent was left iniserious condi-
tion in hospital yesterdayy water
being stabbed cn the premises
of A F Adderley Junior High.
Just one week. after the start
of the new school year, violence
once again threatened when a
15-year-old nihth grader was
attacked by an outsider and
stabbed in his upper back yes-


Govt urged
to review
immigration
status of
lawyer Stern
THE government was yes-
terday urged to review the
immigration status of lawyer
Howard K Stern as the
Bahamas was hit by another
flurry of adverse publicity
from the Anna Nicole Smith
SEE page eight


terday afternoon.
At press time last night police
were still searching for the
assailant, who was dressed in a
white shirt and black trousers,
and wearing a black cap at the
time of the attack. A motive for
the attack had not yet been
determined.
Parents of students at the
high school now fear for their
children's safety and are calling
for police to be immediately sta-
tioned on A F Adderley's cam-
pus.
This incident comes just
weeks after police began its new
initiative to increase police vis-
ibility in the communities by
reassigning officers who were
stationed at public schools to
patrol the neighborhoods
around schools.
According to reports, yester-
day's assault happened shortly
SEE page eight



New industrial
agreement is signed
by City Markets firm
*SEE PAGE THREE
Government moves to
reassure cruise lines
over safety fears
SEE PAGE THREE
Massive excavation
in South Eleuthera
raises concerns
SEE PAGE FIVE


* By BRENT DEAN
Tribune Staff
Reporter
bdean@tribunemedia.net
REVOLT is brewing at
the National Insurance
Board, as 100 members
walked out yesterday
demanding that govern-
ment act to satisfy their
grievances, which include
several claims of sexual
harassment by a manag-
er, and most recently, the
termination of two work-
ers who spoke up in July
against management at an
open meeting with Works
Minister Kenneth Russell.
The workers promptly
walked out of the Board's
Headquarters on Baillou
Road at 10am, gathering
in the yard adjacent to the
building to hold a meet-
ing.
Discontent among
workers at NIB has been
escalating over the last
few months. Numerous
claims to the media, and
to Mr Russell, of sexual
harassment; unfair pro-
motions; verbal abuse: and
"illegitimate" transfers
within the organisation.
led Mr Russell to hold an
open meeting with man-
agement and staff late in
July in an effort to ease
tensions.
SEE page eight


Murder trial jurors taken to alleged crime scene


* By NATARIO McKENZIE
JURORS in the Ian Hutchinson murder trial yes-
terday were taken to a secluded area at Clifton Pier
where prosecutors allege softball star Jackie Moxey
was brutally beaten.
Hutchinson, 46, an ex-policeman is accused of the
October 2005 murder of softball star Jackie "Lil
Stunt" Moxey. 44.
Yesterday prosecutors recalled three of its wit-
nesses to the stand for brief questioning after jurors
were taken to the area of Clifton Cay beach and
shown the alleged crime scene. The prosecution
was granted an early adjournment yesterday after-


Man accused

of rape of

woman, 78
* By BRENT DEAN
Tribune Staff Reporter
I ,-in''lbribiunenlemtlia not
LIONEL LU 1 MORE, 49, ol
Ferguson Street, was arraigned
yesterday in magistrate's court
accused of the rape of a 78-year-
old woman.
The offence allegedly
occurred on Friday, September
7. between 10pm and 11.30pm.
Lotmore was also charged with
one count of burglary and one
count of forcible detention
related to the rape charge.
Lotmore was not required to
SEE page eight


noon and intends to call one final witness today as
the trial winds down.
Jurors, Justice Jon Isaacs who is presiding over
the trial, attorneys involved in the case and Hutchin-
son, who was under heavy police guard, left Bank
Lane around 12.15 yesterday arriving at Clifton Pier
around 12.45 pm. They were then taken down a
dirt road to the crime scene.
The press as well as family members of the vic-
tim and the accused were not allowed to see the
area. The jury left Clifton Pier around 1.20 pm and
returned to court where all that had transpired at the
SEE page eight


-V.-.





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Attack by outsider

leaves 15-year-old

in serious condition


Son campus


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lI A I2,IIU IVA, II I ILM EHI11I2007THEITIBUN
*


New measures introduced to




increase patient satisfaction


* By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net
THE PUBLIC Hospitals
Authority and Princess Mar-
garet Hospital launched a new
initiative yesterday in an effort
to better serve the Bahamian
public.
The effort aims to improve
efficiency, shorten waiting times
in the accident and emergency
room, and improve overall cus-
tomer satisfaction.
During a media tour of the
accident and emergency depart-
ment yesterday, Minister of
Health Dr Hubert Minnis along
with hospital and PHA person-
nel, discussed the various
aspects of the new initiative -
which will include a redesign of
the waiting area and recruit-
ment of additional emergency
room support staff, programme
co-ordinators said.
According to Dr Minnis, the
most common complaint about
the accident and emergency
room at PMH is the long waiting
times. To address this problem,
his ministry along with PHA
looked at ways to decrease wait-
ing time without compromising
quality health care, he said.
"We're setting a target goal of
about two hours to ensure that
no (patient) waits more than
(that)," Dr Minnis said. "Obvi-
ously that might be difficult to


Target time of two hours for emergency room


meet, but at the same time. .
we would improve the efficien-
cy and. . the satisfaction rate."
Under the new initiative,
patients will sign a register once
they enter the accident and
emergency waiting room and
will be assessed by emergency
room "ambassadors". These
ambassadors will place persons
who have been waiting in the
ER for two hours, as well as
elderly patients, on the "fast
track" through the system.
Additionally, an out-patient


follow-up programme will be
introduced, under which, 24
hours after a patient has been
discharged from the ER, hos-
pital staff will contact them via
telephone to ensure they are
taking their medications, that
they are following doctor's
instructions, and seeing how
they feel, Dr Minnis explained.
Project co-ordinator, Dr
Patrick Whitfield, told the
media that 60 per cent of
patients seen in the ER are clas-
sified as "non-urgent" cases,


and a number of persons suf-
fering from chronic diseases like
diabetes and asthma choose the
ER as their avenue of primary
care, which is one of the rea-
sons for long waiting times.
To reduce this number to 40
per cent, hospital personnel will
divert patients to community
clinics, Dr Minnis said.
While hospital officials could
not provide "definitive" wait-
ing time statistics for the ER,
they estimated that category
one patients (such as gun shot


victims) were seen within 15
minutes, while other patients
could wait anywhere from two
to 12 hours from registration to
discharge, depending on the day
of the week.

Transportation

According to officials,
$490,000 per annum is spent to
transport patients from the fam-
ily islands to PMH via air ambu-
lance with the bulk of this trav-
el originating from Abaco,
Eluethera, Exuma, and Andros.
A remote diagnostic system
will be implemented to diag-
nose Family Island patients and
asses whether or not they need
to be transported to the capital
for treatment, Dr Minnis added.
"What we really want to do is
gauge how the public feels
today, and their perception of
what we're doing over the next
three to six months, because the
overall objective is to make sure
we're meeting our clients'
needs," said Coralee Adderley,
Chief Hospital Administrator.
The PHA will evaluate these
initiatives six months from now,
to address the effectiveness of
the new measures, she said.


Truck driver overturns

as he backs into cesspit


THIS CONCRETE truck rests on its side after the driver accidentally reversed into the cesspit on a
construction site. The driver did not sustain any injuries.


* By BRENT DEAN
Tribune Staff Reporter
bdean@tribunemedia.net
A CONCRETE truck driver
narrowly escaped serious injury
yesterday when his vehicle
dropped into a cesspit and
turned over just off the Tonique
Williams-Darling Highway.
The accident took place at
around 2pm at a building under
construction near the Original
Patties store, causing motorists
to slow down and stare at the
extraordinary sight.
The Tribune arrived on the
scene shortly after the truck had
overturned and spoke to the
driver and a witness to the acci-
dent, who both wished to
remain anonymous.
"No one realized that the
cesspit was opened up," the wit-
ness said. "By him reversing the
truck back, over a period of
time, the way he just kept push-
ing (the soil on top of the pit)
down, eventually, it broke."
The driver said that this was
the second time that-he came


to the site to pour concrete. On
the first occasion, he said he
took the same direct route -
reversing towards the front of
the structure and had no prob-
lems.
The 26-year-old driver told
The Tribune that he has been
driving these types of vehicles
for five to six years and he has
never had an accident such as
this.
The man had to climb out of
the window of the truck to
escape, and was fortunate to be
uninjured.
The chief mechanic who
came to survey the situation
said he did not see any serious
structural damage to the big
truck, but noted that a crane
would be needed to pull the
vehicle out of the pit.
The truck was said to be car-
rying thousands of pounds of
concrete at the time of the acci-
dent.
When The Tribune left the
scene, a crane operator had
started the task of attempting
to extract the truck.


New study says reefs

vanishing double the


speed of rainforests


REEFS are disappearing
twice as fast as tropical rain-
forests according to a new
study.
The study, which the Indian
newspaper Hindustan Times
called "the first comprehensive
survey of coral reefs in the
Indo-Pacific region home to
75 per cent of the world's reefs"
explains how coral reefs are
environmentally important
because they recycle carbon
dioxide.
"When corals pull calcium,
or strontium, from seawater
to produce their calcium car-
bonate shells, they lay down
layers of environmental
records. This forms a cata-
logue of the sea's temperature
stretching back thousands of
years, revealing monsoon and
drought patterns. Corals are
also sources of new medi-
cines," the Hindustan Time
report said.
It said of the many factors
impacting coral reefs, humans
pose the biggest threat as
"bad fishing practices, and glob-
al warming and pollution, make
seas warmer, triggering 'coral
bleaching' that kills algae and
turns entire reefs white."
According to the Environ-
mental News Service (ENS),
reefs are now disappearing at
a rate of one per cent per year.
While the new study focuses
on Pacific reefs, the ENS report
quotes John Bruno, head of the
study and associate professor
in Department of Marine Sci-
ences at the University of North


Carolina, Chapel Hill as saying:
"We have already lost half of
the world's reef-building
corals".
It said that Bruno and ecolo-
gy graduate student Elizabeth
Selig, compiled and analysed
6,000 surveys from between
1968 and 2004 of more than
2,600 Indo-Pacific reefs.
"This consistent pattern of
decline across the entire Indo-
Pacific indicates that coral loss
is a global phenomenon, likely
due in part to large-scale stres-
sors such as climate change,"
Bruno said.
ENS said that according to
the study, nearly 600 square
miles of reef have disappeared
each year since the late 1960s.
The report continued:
"Although reefs cover less than
one per cent of the ocean glob-
ally, they play an crucial role
for coastal communities, Bruno
said. They underpin the fish-
eries and tourism industries and
buffer coastlines from storms.
When corals die, these benefits
disappear."
It quoted Bruno as saying
that there are "options" avail-
able to lawmakers and experts
searching for ways to combat
reef loss.
"We can do a far better job of
developing technologies and
implementing smart policies
that will offset climate change,"
he said. "We can also work on
mitigating the effects of other
stressors to corals including
nutrient pollution and destruc-
tive fishing practices."


OIn brief

Thousands
flout US
travel ban
to see Cuba

* HAVANA

BARACK Obama would
lift restrictions on visits by
Cuban Americans to the
hemisphere's only communist
country if elected president.
A growing chorus of Democ-
ratic and Republican law-
makers would go even far-
ther, loosening the US
embargo enough to allow all
Americans to travel to Cuba,
according to Associated Press.
But thousands of US
tourists already travel to Cuba
behind Washington's back,
and many say being sneaky is
part of the fun. Some are
scrambling to get to the island
while Fidel Castro is still alive,
fearing the US government
could scrap the travel ban
once he's gone and bring pro-
found change to Cuba.
"The fact that you're not
supposed to be there, that
Was the top for me," said
Amit, 29, a New York City
native who visited Cuba in
September 2006, shortly after
the 81-year-old Castro fell ill
and ceded power to his
younger brother.
"I was like, 'It's time to
go,'" said Amit, who asked
that his full name not be pub-
lished to avoid US fines.
"You just don't know what
Cuba will be like after Cas-
tro's gone."
Traveling to Cuba is not
illegal for Americans, but.
provisions of the Trading
With the Enemy Act prohib-
it spending money here with-
out authorisation." If caught,
unauthorised US tourists can
face civil fines of up to
$55,000, though many settle
for smaller amounts.
Since January 2006, 19
Americans have paid fines for
sneaking to Cuba, including
four people involved in making
Oliver Stone's documentary
about Castro, "Comandante."
Fellow filmmaker Michael
Moore is now being investi-
gated for filming "Sicko" with-
out permission in Cuba.
Obama would like to do
away with tighter restrictions
imposed by US President
George W Bush in 2004 that
limited educational and reli-
gious travel and reduced trips
by Americans with family on
the island to one every three
years.
The US Treasury Depart-
ment issued 40,308 licences
for family travel last year,
almost all to Cuban Ameri-
cans, and the Cuban govern-
ment counts these travelers
as Cubans, not Americans.
Separately; Cuba said
20,100 Americans visited the
country through June of this
year, almost all presumably
without US permission.
Other than family mem-
bers, the US government
granted permission 491 times
for people involved in reli-
gious, educational and
humanitarian projects. Some
other Americans including
journalists and politicians -
can come without licenses,
though few do.
Cuba said about 37,000
Americans not of Cuban ori-
gin came in 2006 down from
the more than 84,500 it
reported in 2003, before the
latest restrictions.
The American Society of
Travel Agents recently esti-
mated that nearly 1.8 million
Americans would visit in the
first three years following an
end to the travel ban.
"We wanted to get here
before all the other Ameri-
cans come and ruin it all," said
Bridget, a 20-year-old from
Minneapolis, Minnesota, who
wandered Old Havana's colo-
nial streets with her friend
Erik in August.
"It's forbidden treasure,"
said Erik, also from the Twin
Cities. "It will be so Ameri-
canised in a few years. Just
like Cancun."
Some Americans sail to
Cuba, but most fly through
Canada, Mexico, the Bahamas
or Jamaica. Cuban tourist cards


can be purchased at third-coun-
try airports and customs offi-
cials usually stamp only these
loose-leaf visas, not the perma-
nent pages of US passports.
Danielle Drobot, who
spent a legal semester in
Cuba while pursuing an Inter-
national Studies degree at the
University of North Caroli-
na, predicted that "it will be
the end of the US-Cuba
blockade, not necessarily the
end of Castro, that forces the
economic and political sys-
tems to change in Cuba."


-"A ti 2, I Ut~SUAY, bt:1P I EMBER 11, 2007


THE TRIBUNE










THE TIBUNETUESDY, SETEMBE 11OC007,NAGES


OIn brief

VIP manager
says closure
is for routine
clean-up


New industrial agreement is



signed by City Markets firm


* By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net
MANAGEMENT at the
popular downtown Asian
restaurant VIP said they
have not closed down opera-
tions due to health code vio-
lations.
This announcement fol-
lows recent media reports to
the contrary.
In an interview with The
Tribune yesterday, restaurant
manager Susie Chan
explained that last week's vis-
it by the Department of Pub-
lic Health on Monday was a
"routine check" performed
by the government agency
every six months.
She stressed that the
restaurant was not guilty of
any major health code viola-
tions, but was simply asked
by the department to correct
a few aesthetic elements and
address some cleaning issues.
According to Ms Chan, the
restaurant was given seven
days to "clean around the
corners" of the kitchen, apply
a new coat of paint in the
bathroom, re-do the wallpa-
per in the restaurant, and
renew employee health cer-
tificates that had expired.
She said five employees
had current health certifi-
cates at the time of the health
check, while four had certifi-
cates that had expired in
July, she said.
"We're glad that they (per-
formed the check) and we
doing everything we can to
make sure we stick to every-
thing on the list," Ms Chan
said in a telephone interview
yesterday.
She explained that the
restaurant was given the
checklist by the Department
of Public Health last week
Monday, and on Thursday
the eatery closed for half a
day to implement the neces-
sary changes. She said she
was "shocked" to hear what
she called "exaggerated"
reports by other media out-
lets, and felt the incident was
blown out of proportion.
Health inspectors are
expected to make their final
inspection in the coming
week, she added.
When The Tribune visited
the restaurant yesterday, it
was in full operation, catering
to the downtown lunch
crowd.
The Tribune made several
attempts to contact officials
at the Department of Public
Health, but up to press time
no one could be reached for
comment.

96 traffic
citations
made over
last week

ACCORDING to a press
statement issued by assistant
superintendent and press liai-
son officer Walter Evans,
under 'Operation Quiet
Storm', the Royal Bahamas
Police Force recorded 93
traffic citations and issued 16
warrants of arrest over last
week.


THE parent company of City
Markets has signed a "progres-
sive" industrial agreement with
its employees.
It is the first contract to be
signed since Bahamas Super-
markets Limited (BSL) came
under new ownership.
The five-year contract was
signed with officials of the
Bahamas Commercial Stores,
Supermarkets and Warehouse
Workers Union on Friday.
During the contract signing
at the Ministry of Labour on
Thompson Boulevard, BSL
chairman Basil Sands hailed the
agreement as a "significant and
progressive" milestone in the
company's history.
Mr Sands said it marks "the
first time the company's success
is directly linked to bonuses for
employees in a standardised for-
mula. When City Market does
well, employees will do even
better."
Under the terms of the new
contract, 500 full and part-time
employees at City Market


stores and the distribution cen-
tre in New Providence will ben-
efit.
The new contract calls for a
15 per cent increase over a 5-
year period with five per cent
upon signing and a plan for
bonuses tied to company per-
formance.
"As the company's net
income increases and share-
holder value does likewise, so
the company's employees'
annual bonus paid out at Christ-
mas will reflect the improve-
ment," said Mr Sands, noting
that talks leading to the agree-
ment had gone smoothly. The
previous contract had expired
in June and both union and
company spokesmen said the
process of renewal took place
free of animosity.
"Talks between the union
and management have been
amicable, pleasant and conflict-
free," said Mr Sands. "When
union negotiations are free of
conflict, that means one thing
- that the company is treating


BAHAMAS COMMERCIAL Stores, Su
Workers Union President Elgin Doug
Supermarkets for negotiating in good
companies to "follow suit"
its employees fairly and with
respect, that benefits are appro-
priate and that those persons
charged with the responsibility
of representing employees are
satisfied that the entire pack-
age pay, benefits, vacation,


Government moves to reassure

cruise lines over safety fears
THE Bahamas is "address- town Nassau would be normally be 28-36, sometimes
ing at the highest level in the improved, with increased as many as 70, different tour
land" concerns over the safety patrols, while security cameras options at every port of call.
of visiting cruise passengers and would be installed at strategic The cruise lines were also
crews, as Carnival Cruise Lines locations throughout the area. briefed on Ministry of Works
cited several incidents some Apart from Mr Grint, Earl and Transport plans to expand
as recent as last week when its Deveaux, minister of works and the turning basin at Prince
employees had been robbed transport, and Senator Dion George's Wharf. They praised
and firearms used in at least one Foulkes, minister of labour and the plan, although there were
incident, maritime affairs, met with rep- "comments on a few issues".
In a Ministry of Tourism resentatives from Carnival, Roy- The previous government's
release yesterday, detailing how al Caribbean, Celebrity Cruis- failure to expand the basin saw
government had met with the es, Holland America, Princess Royal Caribbean decide to
cruise lines to address their con- Cruises, Norwegian Cruise redeploy three of its Freedom
cerns about the quality of the Lines and Cunard Lines in a bid class ships to ports away from
tourism product being offered, to assure them the Bahamas was the Bahamas.
Tourism Minister Neko Grant taking their concerns seriously. Other issues discussed includ-
said that the Bahamas was "tak- The Ministry of Tourism has ed the creation of an indepen-
ing every step necessary to designated a special unit to dent Port Authog y, the taxii:
reduce and eliminate the inci- develop onshore excursions and call-up system pacruise pas,-
dence of crime in the country",. entertainment opportunities in sengers' perceptions'f Bahami-N
The cruise lines were told that downtown Nassau, the cruise an vendors and the tourism
the police presence in down- lines saying that there would Welcome Centre.

Pageant A

contestants.


line up for

Cat Island

beach shoot

CAT Island Contestants in
Cat Island's 2007 Miss Bold and
Beautiful pageant pose on a
beach during a photo shoot.
The pageant is slated to take
place on October 7 and contes-
tants are from various settle-
ments around the island.
Pictured in the front is Miss
Hibiscus Ivalean Strachan, from
the Bluff. Seated, from left, are
Miss Lavender Nicole Johnson,
from Smith's Bay; Miss Morn-
ing Glory Angelique Brown,
from Gaiters; Miss Periwinkle
Deandrea Williams, from New
Bight; Miss Orchid Patrice
Hunter, from Port Howe.




Eull li


Standing, from left, is Miss Chrysanthemum Sheresa Colebrooke,
from New Bight; Miss Daisy Patrice Russell, from New Bight;
Miss Tulips Lavetha Butler, from Smith's Bay; Miss Yellow Elder
Kizzey Stubbs, from the Lot. Not pictured is Miss Bougainvillea
Crystal Storr, from Old Bight.


ga
a-




permarkets and Warehouse
las, left, praised Bahamas
I faith, calling for other

insurance and opportunity for
advancement is satisfactory."
Union president Elgin Dou-
glas echoed Sands' comments,
calling the agreement "historic"
and thanking the company for
its handling of the negotiations.


"Let me first of all congratu-
late the company and their
negotiators," he said, for a fast
and smooth process. Consider-
ing the fact that City Meat Mar-
kets is now a new company, I
would hope other companies
follow suit."
Mr Douglas was referring to
the change in ownership last
August when former majority
shareholder Winn-Dixie sold to
current owners and the board
of directors of both Bahamas
Supermarkets Limited and
Bahamas Supermarkets Hold-
ings were headed by Bahami-
ans for the first time.
Mr Sands said the contract
signing symbolises BSL's com-
mitment to its employees.
"This is our commitment to
share our success with our
employees who have helped us
grow and provide a positive
exciting shopping experience
for our customers," he said. "As
I've said in the past, when City
Market does well, employees
will do even better."


OP.N.
7 AY WE FRY OUR
SHPPN CONVENIENCEl.i~l


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


-'4


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Editorial/Letters. ....................................... P4
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TUESDAY, SEPTEMBER 11, 2007, PAGE 3


THE TRIBUNE


IN,

m.







PAGE 4, TUESDAY, SEPTEMBER 11, 2007


THE TRIBUNE


EIOIAULETTRS T HEEITOR


The Tribune Limited
NULLIUS ADDICTUS.IURARE IN VERBA MAGISTRI
Being Bound to Swear to The Dogmas of No Master

LEON E. II. DUPUCII, 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


Remembering anniversary of 9/11


WHO CAN forget the awful suddenness of
Sept. 11, the planes crashing into twin towers
and the Pentagon: the heroism of the passengers
who revolted against the hijackers of Flight 93;
the searing loss for families and friends of the
nearly 3,000 people who died; the shock and
grief felt by the entire nation? All this will be
remembered in ceremonies today, the sixth
anniversary of the attacks.
On that morning in 2001 Americans resolved
quite rightly that such a horror must never be
repeated. The question is: How to make the
nation safer? President Bush's answer was an
aggressive foreign policy culminating in the Iraq
war and an attempt to expand presidential pow-
ers at the expense of Americans' civil liberties.
There has not been a successful attack on
American soil since 2001, and the overthrow
of the Taliban in Afghanistan was at least ini-
tially a triumph. But niore Americans have died
in Iraq and Afghanistan than were killed on
Sept. 11, not to mention the tens of thousands of
civilians dead. Bush's version of toughness, in
shot, has had tragic and unpredictable conse-
quences.
Yet this attitude helped Bush win re-elec-
tion in 2004, and this year the major candidates
for president in both parties have been paying
attention. For instance, John Edwards, a Demo-
crat who opposes the Iraq war, said in a speech
last week: "If we have actionable intelligence
about imminent terrorist activity and the Pak-


istan government refuses to act, we will." That
was a hard-edged parenthesis in a sensible
speech about the lessons of Sept. 11. But a
prospective president shouldn't make an open-
ended threat of military action, especially involv-
ing a friendly country. Candidates need to real-
ize they are being heard abroad as well as at
home.
After the Sept. 11 attacks, the rhetoric of
toughness has an enduring political appeal, and
to no one more than Rudy Giuliani, one of the
leading Republican candidates, who as mayor of
New York made his national reputation by his
response to the attacks. "One of my heroes,
Winston Churchill, saw the dangers of Hitler
while his opponents characterized him as a war-
mongering gadfly," Giuliani said at the 2004
Republican convention. "Another one of my
heroes, Ronald Reagan, saw and described the
Soviet Union as 'the evil empire' while world
opinion accepted it as inevitable ... President
Bush sees world terrorism for the evil that it is."
Giuliani has been mentioning Churchill and
Reagan throughout the current campaign. but
both leaders took a far more nuanced approach
than the former mayor lets on. Churchill sought
rapprochement with the Soviet Union following
Stalin's death in 1953. Reagan realized he could
negotiate with the Soviet Union after Mikhail
Gorbachev came to power. A tough attitude
unfiltered by wisdom produces rigidity and
needless confrontation.


THE LATEST pronouncement from
Osama bin Laden, a videotape addressed to
the American people, illustrates the impor-
tance of knowing one's enemy. It's a lesson bin
Laden himself has not learned. The transcript
reveals a pious megalomaniac who recycles
an eclectic mix of Marxist and anarchist cri-
tiques of American capitalism and then
exhorts Americans to liberate themselves from
big corporations by converting to Islam.
If there is an ominous note in bin Laden's
sermon, it is his assertion that all Americans
bear responsibility for "massacres" committed
by the Bush administration. The American
people knew about these acts, bin Laden says.
"Yet in spite of that, you permitted Bush to
complete his first term, and stranger still, chose
him for a second term, which gave him a clear
mandate from you with your full knowledge
and consent to continue to murder our peo-
ple in Iraq and Afghanistan."
This is a rationale for past and future acts of
terrorism against civilians. It holds all Amer-
icans guilty for whatever their government
has done.
Bin Laden's prescribed solution to the wars
in Iraq and Afghanistan that Americans


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turn to Islam may strike most Americans as
a threat or as an eccentric fantasy. But that
prescription does express the political aim of
the radical Islamist movement in Muslim
countries. "Don't be turned away from Islam
by the terrible situation of the Muslims today,"
bin Laden counsels Americans. "For our
rulers in general abandoned Islam many
decades ago, but our forefathers were the
leaders and pioneers of the world for many
centuries, when they held firmly to Islam."
This is a concise statement of the radical
Islamist doctrine. It preaches a nostalgic return
to a political order founded upon enforce-
ment of a purist version of Islamic law. It is a
programme for regime change in the Muslim
states. Radical Islamists may represent a threat
to some of those states. Bin Laden believes
that he brought down the atheist Soviet Union
by helping Afghans in the 1980s, and that he
will cause the collapse of capitalist America
now. When an American president inflates
the threat from Al Qaeda to superpower sta-
tus, he is merely lending credence to bin
Laden's delusions.
(* These articles are from
The Boston Globe 2007)


Social problems




in Harbour Island


EDITOR, The Tribune.
THE Editorial in The Tri-
bune. August 31st, concerning
social problems between expats
and 'Brilanders, mainly over
the Haitian issue, is basically
right on. However these prob-
lems have some other roots as
well.
First, the Haitian portion of
it primarily came about when
roughly a year ago the Immi-
gration Department hierarchy
decided that documented Hait-
ian workers whose work tenure
was three years or less would
not be considered for renewal
requests by their employers.
As these Haitian's work per-
mits expired they were either
rounded up or encouraged to
leave the country. This left a
void of available legal workers
here and caused, and is still
causing, difficulty for employ-
ers. In any event word, as it is
prone to do, spread that there
was now a market for any
workers on the island. Result
was that undocumented
Haitians, and lots of them,
made their way here looking
to benefit from this void.
It has long been established
that 'Briland with its hotels,
rental houses, high end restau-
rant settings, miscellaneous
businesses and the very vital
and venerable base economic
group of foreign home owners
has a legitimate need for some
Haitian workers. There are just
not sufficient to fill the jobs of
this category in the Bahamian
sector.
The most profound state-
ment in the Tribune Editorial
is, and 1 quote, "No communi-
ty can afford to have its busi-
ness community collapse like
ten pins. Immigration, there-
fore, will have to work with,
and not against, employers."
The Tribune Editorial also
seemed to suggest that because
'Brilanders may have issues
with the illegal Haitians, view-
ing them as unwanted foreign-
ers, this might be spilling over
and creating the same feeling
relative to all foreigners on the
island.
To some degree there is
some resentment in this area
but Haitians, for the most part.
are not the cause.
The Editorial, correctly,
refers to the dependency we
have and have had for some 50
plus years on the wealthy for-
eigner who "finding peace.
security, and friendliness built
winter homes and invested
time and wealth, etc" here.
Amen. This group represents
some 250 expat home owners
with houses from colonial
restored cottages to those of
several millions in investment.
Althouglb some have to hire
Haitian gardeners they also, as
a single entity, are the largest
employer of Bahamians on the
island and, of course, pay hefty
Real Property Tax.


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These people are, in some
cases, fourth generation expat
families. They are in all cases
drawn here because of what
the island has been and they,
and others, would like to keep
it quaint, charming, peaceful
and relatively quiet. 99 per cent
of 'Brilanders feel that 99 per
cent of this expat home owner
group are very much of an
asset and part of the 'Briland
scene. They are our friends
and, in many cases, best men,
brides maids and godparents.
They walk the same streets as
we do, go to our churches, shop
in our stores and have inte-
grated themselves, over time,
into the 'Briland community.
All in all a great arrangement
for everyone and considering
them only, a great and work-
able balance of numbers
between these most desirable
of foreigners and the Bahamian
community. Amen again.
However, recently we have
seen the result of this island's
popularity explode in what can
only be determined unchecked
over development!
Harbour Island is one and
one half square miles in size.
It is tiny. There are approxi-
mately 1800 'Brilanders who
call it home.
Within the past very few
years the number of foreign
Condo and Marina projects
built on this tiny rock are
incredible.
At the moment we have two
fully operating large Marinas.
Government (and there is
some confusion over which
one, but it does not matter) has
approved a third one.
Associated with two of these
Marinas are large condomini-
um projects, one completed
and one just approved.
There is also another nearly
completed condo project in the
middle of this and that one has
petitioned for a marina type
dock as well.
These four major foreign
projects are jammed into a
total shoreline area of 2800 feet
in length right in the middle of
the island, and the environ-
mental effects are not good. Of
the Bahamas famous "Sun,
Sand, and Sea" we only have
sun and sand left.
'Briland harbour is polluted.
Algae is so thick along parts of
the township shoreline that in
areas it appears as a floating
green blanket and harbour
beaches and rocks are green.
Neither existing marina has any
sort of functioning waste facil-
ity for the yachts, so some
pump their waste tanks into the
harbour.
There is a further project on
the board and that is that Pink
Sands/Coral Sands (also for-
eign) is making application for
condo type development on
that property, fortunately no
marina with this one.
Most of these projects seem
to have what can only be


referred to as a Florida/USA
architectural face on them. The
mid section of 'Briland now,
except for an occasional
Bahamian flag, may as well be
in West Palm Beach.
Bahamians are being over-
whelmed on Harbour Island.
The developers have access to
lots of money and we all know
money talks and controls.
"They" are in control of 'Bri-
land. My wife tells me she sens-
es being pushed back in time to
her father's era. Pushed back
when we should be going for-
ward. It is no longer our island.
It is as though we just came
with the territory and are only
tolerated. Kind of like the pot-
cake out in the back garden.
Their money and projects
give them great clout, even
political. They tend to get what
they want from Local Govern-
ment, and have even managed
some retail store licenses, albeit
through false pretences. At
each juncture we lose one more
bit of our island and our her-
itage. They are everywhere,
dictating their way, and getting
it, at our expense. Bahamian
culture is being sapped here.
We love foreign investment,
we must have it. However
there is just (now) too much of
it concentrated on Harbour
Island. It needs to be spread
out. Let us try to be Bahamians
in our own land and commu-
nity, not followers of the for-
eigners.
There is a great deal we can
do on our own if the foreign
interests were not given such
a carte blanche to run
roughshod over Harbour
Island.
So further to the August 31st
Editorial, yes there is some
growing friction between 'Bri-
landers and foreigners other
than Haitians.
It is brought on by this frus-
tration of our being so over-
whelmed and controlled by the
sheer numbers of the aggres-
sive foreigners, both develop-
ers and individual entrepre-
neurs.
Unfortunately these osten-
tatious Florida type develop-
ments are of grave concern to
our base economic group, the
expat home owning residents.
This is the sort of thing they
came to Harbour Island to get
away from. What bearing this
will have on their future here is
hard to determine, but it is
nerve wracking to think about
it.
In any event the bottom line
is this is our island, our home
and we feel we are losing and
being pushed Qut of it. At this
point not physically pushed
out, but if the economics of
'Brilanders having less and less
available to them here contin-
ues it may soon lead to that.
Certainly to some extent we
have already been emotionally
removed from the day to day
function of the island.


RICHARD MALCOLM
Harbour Island,.
September 3, 2007.
4


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* ALNEWS


0 In brief

Man faces
multiple
charges of
shopbreaking
FREEPORT An Eight
Mile Rock man was charged in
Freeport Magistrate's Court
yesterday in connection with a
spree of shopbreaking and steal-
ing incidents in Freeport.
Gilbert Bastian Jr of Jones
Town, also known as Gilbert
Smith, was arraigned before
Acting Deputy Chief Magistrate
Helen Jones on 17 counts of
shopbreaking, stealing and
receiving stolen property.
It is alleged that the break-
ins occurred between July 24
and August 26 at Global Cred-
it and Collection Agency, Glob-
al Consulting Company, Guard-
It Security Company, and
Gilead Medical and Healing
Centre all located in Pioneer's
Professional Plaza and the
Children's Home and the Home-
for the Aged, both on Frobish-
er Drive.
The items stolen included
office computer systems, cellu-
lar phones, cassette players,
portable radios, clothing, hand-
cuffs, snacks, television sets and
cleaning detergent, together val-
ued at several thousand dollars.
Bastian pleaded not guilty to
the charges. He was remanded
to Her Majesty's Prison in Nas-
sau until November 26 for trial.


Chavez plan
for jungle
meeting is
rejected

* COLOMBIA
Bogota
COLOMBIA on Monday
rejected a proposal by Venezue-
lan President Hugo Chavez to
travel to rebel-controlled jun-
gles to broker a prisoner
exchange to free three US
defense contractors and dozens
of other hostages, according to
Associated Press.
Peace Commissioner Luis
Carlos Restrepo, in a brief stAte-
ment, said the government
"does not consider appropri-
ate" a meeting between Chavez
and the Revolutionary Armed
Forces of Colombia, or FARC,
on Colombian soil.
On Sunday, Chavez said dur-
ing his weekly television pro-
gramine "Alo Presidente" that
he was "willing to go into the
deepest part of the largest jun-
gle to talk with Marulanda,"
referring to FARC commander
Manuel Marulanda.
Chavez said he received a let-
ter last week from Marulanda in
which the octogenarian leader
said he was unable to travel to
Venezuela and instead invited
the Venezuelan leader to come
to Colombia.
Chavez said Marulanda also
promised to send a high-ranking
FARC envoy to meet with him
in Venezuela to discuss a
humanitarian exchange for
imprisoned rebels.
Restrepo reiterated the gov-
ernment's support for talks
between Chavez and the FARC
in Venezuela. The idea was first
discussed at an August 31 sum-
mit in Bogota in which the Pres-
ident Alvaro Uribe authorised
Chavez to play a mediating role
in long-stalled talks to free the
hostages.
Among about 45 prominent
hostages held by the rebels are
three US defence contractors
whose small plane crashed in
the jungles while on an anti-nar-
cotics mission in 2003 and for-
mer presidential candidate
Ingrid Betancourt, a French-
Colombian citizen.




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Massive excavation in South




Eleuthera raises concerns


THE government has
announced that a "massive"
sand excavation project tak-
ing place in Winding Bay in
Eleuthera has led to environ-
mental concerns on an island
prone to extensive flooding
and sea surges during hurri-
canes.
The issue was raised by
directors of the Hotel Corpo-
ration and Deputy Prime Min-
ister Brent Symonette during
a tour of South Eleuthera
over the weekend.
According to the govern-
ment's information depart-
ment, Bahamas Information
Services, deep and wide tire
track marks showed where
heavy equipment was being
used to dig and transport the
sand and fill from the beach
area.
"This is not uncommon on
Family Islands and on
Eleuthera where in a number
of other settlements like
James Cistern, contractors
have taken heavy equipment
and dug out sand and other
landfill material with no con-
cern for the potential envi-


ronmental problems," said Mri
Symonette, the minister
responsible for the Hotel Cor-
poration.
He said while he appreci-
ates the need for sand for con-
struction purposes, there are
requirements in place to
engage in such activity. He
called on those responsible to
seek the necessary permission.
Mr Symonette noted that
other Eleuthera developers at
Windermere, Powell Pointe
and Cotton Bay took
"tremendous" time to ensure
the natural environment is
preserved.
"This is where we want to
go, to make sure that devel-
opments are environmental-
ly sensitive," he added.

Prevention

He said the government
aims to stop the assault on the
environmental integrity of the
country resulting from exca-
vation of hills and back filling
of wetlands, amongst other
harmful practices.


THIS PATHWAY to the sea shows the level of excavation on the
beach at Winding Bay


Another goal, he said, is to
enact legislation for the regula-
tion and provision of guidelines
for environmental impact
assessments for all developers,
and to plant sea oats and other
indigenous plants to protect
sand dunes and other fragile
coastal zones.
The purpose of the tour,
which began in Fresh Creek,


Andros, on Friday was to famil-
iarise the newly-appointed
board of directors of the Hotel
Corporation with government-
owned properties and Crown
land being sought by potential
invesV)rs.
"The entire trip was very edu-
cational for some board mem-
bers it was their first time view-
ing that aspect of the Family


Islands," MR Symonette said.
"We have a number of
prospective developers who
have expressed interest in the
Lighthouse Club in Fresh
Creek. Substantial work needs
to be done to the Lighthouse
property, that needs substantial
injection of capital, marketing
and airlifts and a whole range of
issues," he said. "We need to
look at the two potential devel-
opers and whether it is finan-
cially feasible."
In Eleuthera, he said, a devel-
oper is interested in Half Sound,
Winding Bay and Tarpum Bay,
which together incorporate
thousands of acres of land and
indigenous plant life.
"So we have to balance
whether we feel it should be
given to one person, or more, or
whether it shouldn't be done at
all. And there is this whole
question of the environmental
impact on the development,"
Mr Symonette said.
The board of directors is
scheduled to meet on Friday,
September 14, to review all pro-
posals and submit its findings
to Cabinet for final approval.


Bahamas 'lacking in technical expertise'


THE Bahamas is in dire
need of qualified technical
experts, according to Minis-
ter of State for Culture
Charles Maynard.
He said this includes engi-
neers, computer technicians,
mechanics and mechanical
engineers.
Mr Maynard said these
skills are particularly needed
in agriculture, fisheries,
tourism and the financial ser-
vices sector.
Speaking to high school stu-
dents entering the Technical
Cadet Corps Programme, he
told them that the expertise
they earned could help bring
improvements in the way fish
are caught and processed.
"We need individuals who
have a desire to enhance the
methods of farming that cur-
rently exist and then design
efficient and profitable ways
to harvest crops and preserve
the meats produced," Mr
Maynard said.
He said the Technical
Cadet Corps Programme will
provide them with the foun-
dation on which a good future
can be built, and it will be up
to them to contribute signifi-
cantly to the growth of the
Bahamas.
The induction ceremony at
Workers House on Harrold
Road was held on September
6 for students from the 20 high
schools starting the pro-
gramme.
The Technical Cadet Corps
Programme is geared towards
training students in the tech-
nical areas. The cadets will be
exposed to such areas as elec-
tronics, electricity, water test-
ing and treatment, and broad-
casting engineering.
Full sponsorship, involve-
ment and funding come from
the Bahamas Electricity Cor-
poration, the Water and Sew-
erage Corporation, Bahamas
Telecommunications Compa-
ny and the Broadcasting Cor-
poration of the Bahamas.
The minister encouraged


the students to develop a
vision and passion for contin-
uous learning.
"Set realistic goals for your-
selves and remain focused on
achieving them. The surest
route to productivity is
through an unflinching
emphasis on high expectations
and relentless encouragement.
"It takes courage to strive
for excellence and it takes sus-
tained courage to maintain
zero tolerance for failure and
to refuse to accept second
best."
Mr Maynard also said the
students have the power to
create the kind of life they
desire as well as control their
image.
"Looking and acting as a
leader is a choice. You are
your own image maker," he
said. "If the impression you
make on others is not what
you want it to be, you can
change your image at any
time."
Mr Maynard said as the stu-
dents go through the pro-
gramme, they are expected to
make new discoveries, learn
new concepts, understand
more clearly the field of tech-
nology and engineering, and
then make the right choices
at the appropriate time.
Executive director of the
programme Sydney Forbes
said the cadets are beginning a
journey that will give them


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new insights, new knowledge
and an opportunity to discover
their talents and academic
strength.
"By the end of the period, it
is our belief each student will
have a clearer view of the career
that he or she will pursue.
"Your three years with us will
be challenging, rewarding and
at the end, I believe all of you
will agree that the time spent
in this programme was worth
the sacrifice that would have
been made," Mr Forbes said.,
Students are expected to
attend classes three times a
week and buses will pick up the
students from their school cam-
puses and take them to the
classes.


p~S"-lll~BF .-I


HIGH SCHOOL students listen to an address by Minister of State for
Culture Charles Maynard at a ceremony for their induction into the
Technical Cadets Corp Programme


THE TRIBUNE









PAGE 6. TUESDAY, SEPTEMBER 11, 2007


THE TRIBUNE


LOA NW


against Pindling passes awo


A LEADING British
Queen's Counsel and former
war hero whose advice was
sought on various aspects of
Bahamian law has died aged 88.
Sir Tasker Watkins VC QC
- he always insisted that the VC
be listed first among his hon-
ours came to Nassau in the
late 1960s to advise on proposed
changes to the Hawksbill Creek
Agreement.
A likeable, down-to-earth
Welshman, Watkins was a leg-
end long before he began his
illustrious career at the Bar.
He won the Victoria Cross -
the highest British award for
gallantry while a young lieu-
tenant in the Second World
War, and always insisted that
should be considered above any
other distinctions he earned in
life.
"Would you mind, please,
putting the VC before the
QC?" he politely asked a Tri-
bune reporter during his time
in Nassau. "I'd be most grateful.
Thank you."
Sir Tasker, who later went on
to become Deputy Chief Jus-
tice of England and Lord Jus-
tice of Appeal, won his VC
during the North-West Europe


Sir Tasker Watkins, the QC who

gave his opinion on the Hawksbill


Creek Agreement,


Campaign of 1944-45.
On August 16, 1944, while
commanding a company of the
Welch Regiment, he attacked
a German machine-gun post
single-handed while leading a
bayonet charge.
His "superb gallantry" dur-
ing the battle at Bafour in
France saved many British sol-
diers' lives and changed the
course of the action. The gutsy
Welshman, who had started out
as a private, and been granted
an emergency commission
because of his obvious leader-
ship qualities, was promoted to
major in the field.
In later years, when variouss
wartime anniversaries came
round, he said: "You must
believe me when 1 say that it
was just another day in the life
of a soldier.
"I'd seen more killing and
death in 24 hours indeed was


dies at 88


TASKER WATKINS pictured in
uniform dining Woild Wai II

part of that tenible process -
than is right for any body'. From
that point onwalds I have tried
to take a more caring view of
my fellow human beings."
Ie read for the Bai after
leaving the armv. becamic a OQC
in 1I)(i5 and \\as kniglited in
I )7 1. He retired Iromn the
Bench in It9)3. aged 75. IHe
leaves a wife and daughter.


The man who told Freeport businesses

they did not need permits for key workers


THE rights of Freeport
licensees under Lynden Pin-
dling's first PLP government
were the main concern of
Tasker Watkins VC QC in the
fall of 1969.
After months of studying the
Hawksbill Creek Agreement
and the 1967 Immigration Act,
Major Watkins as he was
known at the time produced a
legal opinion that all licensees
wanted to hear.
Its main thrust was that


Freeport businesses, under the
special provisions of the Hawks-
bill Creek Agreement. did not
need work permits for key
workers and that refusal of
entry could be allowed only on
limited personal grounds.
According to Major Watkins.
any attempt by the government
to introduce legislation to
counter these provisions would
be "a rare abuse of the legisla-
tive powers which the govein-
ment undoubtedly possesses, a


bleach of faith and a bieak of
contract."
Watkins. a noted constitution-
al lawyer, was asked for his opin-
ion bv Freeport Chamber of
Commerce after the then Mr Pin-
dling made his "bend or he bro-
ken" speech, signalling a change
in Freeport's special status.
The prime minister's aggres-
sive stance against the agree-
ment ultimately led to a mas-
sive flight of investment capital
and a decline in Freeport's for-


SIR TASKER Watkins as pictured by fellow Welshman, port
David Gtiffiths


tunes which have never been
reversed.
Watkins' interpretation of
existing legislation introduced
a glimmer of hope for the
investors whose money had
made Freeport one of the boom
cities of the 1960s.
But it also warned that, under
the new Bahamas constitution
of the day, "there is no doubt
that the present government
could commit a breach of faith


by dealing with the
in the manner sugge
"It mav be such a t
the minds of the ma
new constitution," h
On the basis of
opinion, licensees
licensees banded t
discuss action again
Authority, which w
ing talks with govern
hope of reaching
standing.


Grocery distribution warehouse to open


AUTO PARTS SALES CLERK

Must have a minimum of 2 years experience at this position
Knowledge of automotive tools, equipment, paint etc also required.

Please submit resume to:
Albury's Supply Co.,
P.O. Box N-7773 Nassau.

We thank all applicants, however only those to be interviewed
will be contacted. Albury's Supply Co., reserves the right to
reject any or all applicants.


N By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia net

I RELPOR -l Intel national
Distributors of (irand Bahama
will open its ne\\ $8 million gro-
ccrv distribution w\\areholuse
netl niontih.
The 100,000 square fool facil-
it\ operated b\ Associated
( rocers o I lorida is expected
to be officially opened b.y Prime
Minister Hubeit Inngraham on
October 19.
International Distributors is
an import-export products man-
agement company. It is located


Monday, Sept 24, 2007 Q4

Session 1: 9 am to 1 pm
Session 2: 6 pm to 8 pm

ENTER TO WIN -
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to the 2008 Bronner Bros or
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James Adarms is a multifaceted to.inneluol'tgi>i'
Owner of Renovare' Hair Salon, i a
multicultural salon in Birmingham, Alahimia
He is also the co-owner of SOAR, a mip1maII
designed to educate cosmetologists iin
haircutting techniques and salmi nii aiag,, ien i11
As if that weren't enough profrssionail ,at ii ni
James is a Color Master Artist with Cllirol
Professional and spokesperson for the Texire-.
& Tones color line, along with oilither Iea u
Synergy team members.
Jaimes often educates in the llt n,.mtl ,hi \m
arena and has presented trend, in lloTnilg
and techniques at Bronner Brit oilers, Pr iid
Lady and many other profession ,al sl is
lHe has been iln the beauty biz smI4 e 1' eK
earning his cosmetology degree Iroin Dahl's
Beauty Acadeiy, a Pivot Pointl i:licI in (.,rp.it
Falls, Montana. In 1985, lames arippr'in ni I ior
one year under the tutelage oi R,.ail
Madrigal, the well-known colorunl diand itier
All in all, this well-rounded stylilt. -il 'iiir
and businessman brings a wealth oi
knowledge to his many artist endii air-,


on 20 acres of land at the
Sea/Air Business Centre a 741
acre site between the ailpolt.
contaillne poll an]d harbor.
1 lie company said it \\as
attli acted to cFreeport because of
its transshipment/logistic/distrib-
ution potential. because of its tax-
free status and because it is the
only poll in the WCestern Hemi-
spheie that could a commodate
large post -ail',i: a\ vessels .
Asso' ialeLd (iioceIs \\ill
import products from China
and other markets to its distri-
bution facility in Freeport for
re-export to other markets.
However, the facility will not
supply local Bahamian whole-
salers and local major food chains.
In February. the company
hosted a trade show in Freeport
where some 300 vendors exhib-
ited their wares to major US
retail companies.


The investment b
ed (irocers is expect
some employment
suffering Grand Bah
force along with oth
ic benefits.
Company presided
fler was quoted in T
in F'ebuary as sayi
company would eilmp
pie at the Freeport x
SIle also mentioned
are plans foi an exp
would create an l
400.000 square fee
house during phase
This. he said. wo
lowed by a phase IV
that would create
square feet of wareh
Each phase will
tional jobs for Baham
However. Mr De
not be reached for c
to press time yester


SIn brief


Reputed


ty



































rait painter



agreement
:sted."
thing was in
kers of the
ie added.
Watkins'
and non-
ogether to
ist the Port
as continu-
inent in the
an under-



soon

v Associat-
led to bring
relief to a
lama labour
er economy

nt Roy Def-
'he Tribune
ng that thel
loy 2(X) peo-
warchouse.
d that there
mansion that
additional
2t of ware-
I1 and III.
uld be fol-
expansion
e 800,000
iouse space.
bring addi-
ians, he said.
effler could
comment up
day.


Locati^i. Ied: Tholmpson BlvdmE :1
^ T Tel: 325-0881/2 Opn:Mon.-i. 8Tm.- m.


Expert lawyer who decided


kingpin

captured

* COLOMBIA
Bogota

A REPUTED drug lord on
the FBI's top 10 most-wanted
list was captured in western
Colombia, the interior minis-
ter said Monday, in a major
blow to the country's largest
remaining drug cartel, accord-
ing to Associated Press.
Diego Montoya, who sits
alongside Osama bin Laden
as the only major alleged drug
trafficker on the FBI list, is
accused of leading the Norte
del Valle cartel and export-
ing tons of cocaine to the
United States. The FBI had
offered a reward of $5 mil-
lion for information leading
to his arrest.
Aware of the arrest, FBI
officials on Monday were
checking fingerprint databas-
es and otherwise trying to
confirm that it was, in fact,
Montoya who was captured,
said spokesman Richard
Kolko.
FBI officials in Bogota are
"working with local authori-
ties to confirm his identity,"
Kolko said.
The FBI says Montoya is
sought "in connection with
the manufacture and distrib-
ution of multiple tons of
cocaine." It said the cartel is
aided by left-wing rebels as
well as right-wing paramili-
taries.
Montoya was caught by the
army in Valle de Cauca state,
a cartel stronghold, said Inte-
rior Minister Carlos Holguin.
Police and soldiers had
focused their search for him
in a rugged canyon, but were
hindered by Montoya's wide
network of informants.
Better known as "Don
Diego", Montoya has been in
a bitter turf war with Colom-
bia's other main drug traf-
ficker. Wilber Varela, who
'reportedly is living in
Venezuela. Battles between
their rival militias have left
hundreds of dead along
Colombia's Pacific coast.
Montoya's brother, Euge-
nio Montoya Sanchez, was
captured by Colombia in Jan-
uary.
The Norte del Valli cartel
became Colombia's most
powerful after the dismantling
of the Medellin and Cali car-
tels in the 1980s and early 90s.
Officials believe it is respon-
sible for as much as 30 per-
cent of the more than 550
tons of Colombian cocaine
smuggled each year to the
United States.
To protect its valuable drug
routes, the cartel is believed
to have worked closely with
right-wing death squads
whose umbrella organisation,
the United Self-Defence
Forces of Colombia, is listed
as a terrorist organisation by
Washington.


r


1% r"nrc aine










T HHETRIBUNETUESDAYSEPTEMBER11,27,PAGE7OCALNEWS


OIn brief

Divers call
for bounty
to be made
on lionfish
DIVERS are calling for
the governmiCent to put a
"dollar a head" bounty on
the predatory liontish.
which is invading Bahamian
waters in ever-inicreasing
numbers.
More and moic of the
deadly creatures are being
seen around Nassau, espe-
cially in the Salt Cay and
Cable Beach areas.
The colourful fish, with
their multiple spines, are
known to feed voraciously
off reef fish hatchlings and
crawfish spawn, posing a
threat to local fishing.
"It's time for government
to put a bounty on these
creatures," a Bahamian div-
er told The Tribune vester-
day. "At one dollar a time.
there would be plenty of tak
ers.
The lionfish. native to the
Pacific, has been turning up
along the east coast of the
United States and in the
Caribbean in recent years.
But it's only veiv recently
that it has been seen in
increasing numbers in the
Bahamas. where it could
pose a threat to local fish
stocks.
Apart from ils danger to
other sealife, the lionfish pos-
es a hazard for bathers
because its poisonous spines
can cause great pain.
The Department of Fish-
eries has already called for
divers and snorkellers to
report sightings of lionfish.
But one di\er said: "It's
time for speal-fishermen to
be encouraged to go after
these fish. They could
become a real problem if
they continue to come in
here."
One suggestion is that
lionfish were "blown'" into
the Bahamas by a hurricane.
but marine experts in Flori-
da believe spawn is more
likely to have been washed
into the sea from fish tanks
on land.


Mitchell defends PLP reputation


\A rI a nlew\s conlference in BaI
lidos otpposilion spokesman oll
forCign affairs rl ed Mlitclch ll
defCded the reputatiInl f tile
Cluistic administration o\ er the
cancellation of Carlifestia N
Speaking to regional media
in Bridgetown, Mr Mitchell not-
ed that the FNM announced in
Julv that it would no longer
honour the comnllltlenllc l ailde
bh the former I'LP administiia
tion to host ('arifesta ill Nassau
in 2008.
"The iecold will show that
this has caused grave c onIceC-rn in
the artistic community at
home," Mr Mitchell said. "Our
concern, however, is that the
impression being given is that
oulr parly and govern ent was
somehow at fault in the matter
and that we had not done the
necessary preparatory \\xo k to
host ( arifesta. That is not
true."
Following the cancellation iof
the event, several senior FNMs
said that the move was unaxvoid
able, as the Pl P failed to piop
eriv prepare lor the festival.

Criticism

Slowever, a liinltiibel of cutl
tural icons criticized the go\
erunment. saying they felt theI
could have beeIn ire:dv in time
le ,ardless of Ithe st:iltn 1 ol
pi iepiArations.
Mi Mitchell said: "We issued
a statement Iroum Nassau but
that statement was not tcaited
bx the Ca ibbean media anLd so
I hal\ cnlle to ensure that the
people of the region know the
facts on this miatte and to
defend the reputation ot thei
PLP and the Bahamian people.
We are reliable pa tners.
"We concede that t(lie gox
eminent has the light to cancel
the hostilig of C('alilesia it it
wishes but it should do so on
its own account and not gi\ve
the impression that their pie
decessors in office did not aide
quatt-ly pieparle the Coulut\ It
host the event. V'e did so pre-
pare: the decision not to host
CanlLesta X is enticl\ that of
thle go\ erinelnt
Mr Milchell then read the
PLP statemneit delivered in
Ne\\w Providcncc lollo\ mg the
canIL llation


FRED IVIITCHELL, Fox Hill MP and opposition spokesman on foreign
affairs at a news conference before regional media in Bridelown,
Barbados yesterday.


Local Distributor
Seeking applications
to fill vacancies as




The successful candidates must show
an adequate level of experience and
certification to be considered capable
of filing these key positions.

Salary will be commensurate with
qualifications and expect lence.

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in writing, with lesurne, to:
Brand Manager
P.O. Box SS-5698
Nassau, Baha.mas ,

or via Email to:
brandmanagei appj@yahuo t oni


Monday to Saturd


0loamto 5pm


- -- I


TUESDAY, SEPTEMBER 11, 2007, PAGE 7


THE TRIBUNE


Former minister denies insufficient

preparations were made at news

conference in Barbados











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Govt urged to review immigration anaccuse
S- of ape of


status of lawyer Howard K Stern


woman, 78


: FROM page one

affair.
I "This guy obviously has polit-
ical connections because had he
I6een Joe Blow, he would have
been out of here by now," said
fathers' rights champion Clever
Duncombe.
Mr Duncombe believes that
as long as Stern remains in the
Bahamas "we shall continue to
be the target of negative pub-
licity."
Stern, attorney-companion of
the late Anna Nicole during the
tragic last.-six months of her life
in Nassau, is still living at Hori-
zons, the Eastern Road man-
sion still at the centre of a legal
I,lispute.
He has now been living in the


Bahamas for more than a year,
vet has no status other than that
of a tourist, according to Mr
Duncombe.
"1 would have thought that,
with the death of Ms Smith, he
would have gone," said Mr
Duncombe. Instead. Mr Dun-
combe believes that Stern's
"presence here continues to
bring shame upon this country."
Mr Duncombe was referring
to disclosures in TV personality
Rita Cosby's new book, Blonde
Ambition: The Untold Story
Behind Anna Nicole Smith's
Death, which was published a
week ago.
In it, Ms Cosby claims to cast
new light on the relationship
between Stern and photogra-
pher Larry Birkhead. She also
probes a series of alleged mon-


ey transfers from the late cover
girl's bank accounts.
Both Stern and Birkhead,
father of Ms Smith's baby, Dan-
nielynn, have threatened libel
actions against Ms Cosby, who
has brushed off their threats by
saying: "They would sue a
newsboy if they could."
Ms Cosby, who reported the
Anna Nicole story from the
Bahamas for MSNBC, earned
major coverage for her book
last week on several US news
channels.
During interviews, she made
it clear that there are still many
unanswered questions sur-
rounding the case.
Yesterday marked the first
anniversary of the death of
Anna Nicole's 20-year-old son,
Daniel, the incident that


Attack by out


teen in serioi


? FROM page one
afterr 1pm when an outsider a teenage boy
believed to be around 15 or 16 years old -
jumped over the school's fence and attacked
the 15-year-old student.
, The two teenage boys fought. The AF Adder-
ley student was stabbed in his back.
; He was immediately taken to hospital by
ambulance.
"He was in a lot of pain," one witness said.
Speaking with The Tribune yesterday, a parent
of a ninth grade student at A F Adderley said
that she no longer feels that hei daughter is safe
on the school's premises.
Brent Forbes said she had feared for her 14-
year-old daughter's safety even before yester-
day's attack.
. "(I fear for her) all the time, every day, every
day I fear. They need to put police back in
schools again," she said.
* Mrs Forbes said she not does believe the secu-
ity guards who are now stationed at AF Adder-
tey offer sufficient protection for the students.
o "I don't know what is happening anymore,,
you're'not safe anymore. Ydu could be sitting


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tsider leaves


us condition

anywhere on campus and before you know it
you can get attacked," she said.
Belinda Wilson, general secretary of the
Bahamas Union of Teachers (BUT), told The
Tribune that this latest incident of school vio-
lence highlights the need for police to be imme-
diately reinstated at all schools.
"Police need to be back at the schools and
they need to upgrade their communications
equipment so that the response time can be
quicker.
"Parents are afraid for their children at this
time and the BUT is very concerned about the
safety of our children and our teachers on the
various campuses," she said.
Ms Wilson also questioned the number of
officers assigned to patrol those neighborhoods
with schools.
"At present the police have two cars patrolling
the Grove district. That covers Montell Heights,
St Cecelia, Ridgeland Park, Millennium Gar-
dens, Yellow Elder. Those areas together have
14 schools." she said.
It is completely inadequate, Ms Wilson said, to
have only two cars patrolling an area with so
many schools.


sparked what one leading
American journalist called "the
greatest human interest story
of all time."
Yet still the Bahamas has
failed to conduct an inquest into
his death.
Mr Duncombe. meanwhile,
demanded government action
to establish Stern's credentials
and determine his future in Nas-
sau. *
"Surely, if he is a tourist, his
time has passed and he must
leave. The government should
review his status. I would have
thought the government would
have made a definitive state-
ment by now in this respect.
"If they remain silent and he
is allowed to stay there must
be some concern from civil soci-
ety," he said.


Jurors taken to alleged crime scene

FROM page one

.scene was entered into the court's record.
Prosecutors then recalled Detective Inspector Christopher Inspec-
tor Wright. lead investigator in the case. Fred Munnings, and Corpo-
ral Keith Turnquest. a crime scenes photographer. All of the witness-
es were at the scene yesterday to answer questions relative to what they
had previously testified. All three witnesses admitted that the area had
changed somewhat since the incident in October 2005.
On Friday. Inspector Wright testified that on Tuesday, October 25,
2005 he spoke to the accused at the Cable Beach police station after
cautioning him, then subsequently went to the scene of the incident.
Wright also testified on Friday that there were blood stains on the rocks
at the scene as well as two hair braids and a black scrungie which
Hutchinson had told him belonged to Moxey.
Munnings, a public school teacher had previously testified that he
had helped the accused who was a former pupil, lift Moxey to his
car.
Munnings had told the court Ithat he was at Clifton Pier around 1 pm
on October 25 studying the coastal erosion of the nearby beach when
Hutchinson approached him and pleaded with him to assist him in lift-
ing Moxey who was lying in a rocky area on her back at the time.


172 IT I 11f


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P bL .-LN


;gtSSSHSVMS *


NIB employees returned to
work within 30 minutes of the
initial walkout.


Smart is Exciting


PAGE 8, TUESDAY, SEPTEMBER 11, 2007


__r~~LL`-I~I_~ _~.&lll~c-9b,


THE TRIBUNE


enter a plea, as a preliminary
inquiry was ordered by Magis-
trate Susan Sylvester to deter-
mine if the evidence against
Lotmore warrants a Supreme
Court trial.
Prosecutor Annemarie Neely
objected to bail due to the grav-
ity of the charges and because
the accused is known to the vic-
tim.
According to the prosecution,
Lotmore was caught by police
in the victim's house.
When officers arrived at the
door, the victim is said to have
collapsed in their arms.
After charges were read
to Lotmore. he told
Magistrate Sylvester that he did
not want to go to Fox Hill
Prison.
He preferred, he said, to be
sent to Sandilands Rehabilita-
tion Centre.
Lotmore claimed he was
beaten by C1D officers while in
police custody after asking to
be detained in hospital rather
than prison.
Magistrate Sylvester asked if
he knew the names of the offi-
cers who beat him.
Lotmore said he did not, but
he knew their faces.
The magistrate rejected Lot-
more's request to be sent to
Sandilands. She said he seemed
functional and did not show
signs of needing Sandilands'
care.
Lotmore was remanded to
Fox Hill Prison until Novem-
ber 9.



National

Insurance
FROM page one

However, with no action thus
far against the accused man-
agers and the wider leadership
of NIB by the government, the
staff led by Jerome. Swan,
president of the union of public
officers have declared that
they are on the verge of more
significant industrial action.
"We are not comfortable with
some of the things we see going
on with management and the
staff." Mr Swan said.
Mr Swan explained that
workers were under the impres-
sion that they could speak freely
at the meeting with the minister
and not be victimised bv man-
agement. However, he said,
punitive action was taken.
"However, since that we have
had two staff members that
were subject to termination and
we feel strongly that that was
the result of some victimisa-
tion," Mr Swan added, empha-
sizing that this is "not fair."
The union leader described
both terminations as "in viola-
tion of the rules and regulations
that's laid out in the manual of
National Insurance Handbook
and the industrial agreement."
Three workers were termi-
nated The Tribune was told,
with only one being reinstated.
This employee, who was alleged
to have made two sexual harass-
ment complaints against a man-
ager, was reportedly sent back
to work with the same manager
against whom the complaint
was made.
Mr Swan said that yesterday's
action by the workers demon-
strates that they are not willing
to allow the conduct in ques-
tion to continue any longer.
with further action possibly
being taken within two weeks.
Minister Russell said that his
ministry has met with NIB staff
in Nassau, Freeport. Exuma,
Abaco, but not yet with those in
Eleuthera, and as soon as these
finding have been assembled,
they will meet with the chair-
man and managing director of
NIB in a week to address the
necessary issues.
Mr Riussell declared that he
will again meet with workers
directly once the investigation
has been completed, but he
emphasized that it would be
"unfair" just to investigate Nas-
sau, without also investigating
all of the other large offices in
the Family Islands.
The minister told The Tlri-
bune that he met with senior
managemlenlt of NIB during the
walkout, and that another meet-
ing was scheduled with execu-
tives at NIB regarding "the way
forward" in relation to the two
terminated workers, at 6pm yes-
terdav.








THE TRIBNE TUESAYNESETMR1,20,PG9


Minister meets students


during trip to Abaco


P ------------ A -
MINISTER OF National Security Tommy Turnquest (left) talks with students in the Little Abaco Preschool,
during his first official visit to the Royal Bahamas Police Force Abaco District. Among the senior officials
taking part in the event were permanent secretary of National Security Missouri Sherman Peter,
Commissioner of Police Paul Farquharson and Assistant Commissioner for Grand Bahama and the
Northern Bahamas Eugene Cartwright. Mr Turnquest also led a delegation to visit police stations in
various settlements on the island, including Crown Haven, Treasure Cay and Fox Town.



Three directors of



Student of the Year



Foundation retire


THE Bahamas Primary
School Student of the Year
Foundation today announced
the retirement of three long-
standing members of the board
of directors.
In a statement issued yester-
day, the foundation said it wises
to publicly thank retired direc-
tors Phenton Neymour, L Ger-
ard Archer and Mavis Johnson-
Collie, "for their service in the
uplifting of the children of our
nation".
The foundation also
announced the election of Errol
Bodie, Dr Cindy Dorsett and
Dr Beverton Moxey to replace
the them on the board.
The Bahamas Primary School
Student of the Year Founda-
tion, a non-profit organisation,
was launched in June 2004.
It was created through the
Nassau, Bahamas Council of
the National Pan-Hellenic
Council, Inc as an autonomous
educational entity.
Since 2005 the foundation has
provided more than $150,000 in
scholarships and prizes for out-
standing 6th grade students.
The new positions became
effective at the foundation's
Annual General Meeting held
on August 25.
"These three individuals
bring a wealth of experience
and leadership to the gover-
nance of the Bahamas Primary
School Student of the Year
Foundation. Each has demon-
strated extraordinary leader-
ship in seeking to address the
challenges that foundation
cares deeply about," said Cyn-
di Williams-Rahming, founda-
tion chairman. "We are delight-
ed that they will be joining us
in our efforts to expand and
further promote academic
excellence through the
Bahamas Primary School Stu-
dent of the Year Awards Pro-
gram".
Errol Bodie has been
appointed foundation director.
He is a subscribing life mem-
ber of Kappa Alpha Psi, Fra-
ternity and previously served
as chapter secretary and presi-
dent.
Mr Bodie is currently the vice
president of the Nassau,
Bahamas Council of the Nation-
al Pan-Hellenic Council, and
chair of the annual Barefoot
Summer Jam Step Show.
He earned a bachelors degree
in computer engineering from
Nova Southeastern University
in 1994, and is currently study-
ing for a Masters in informa-
tion systems management from
the University of Liverpool.
He works at the Central
Bank as the manager of infor-
mation technology.
Dr Cindy Dorsett has been
appointed foundation director
and vice-president of develop-
ment.
She is currently the vice-pres-
ident of the Eta Psi Omega
Chapter of Alpha Kappa Alpha
Sorority. She earned a Bache-
lors degree in biology from
Bethune-Cookman College and
a MBBS degree from the Uni-


STANDING ARE Dr Beverton Moxey, Carol Smith, CC LaFleur, Shane
Albury, Dr Cindy Dorsett, Margo Adderley Steven Strachan and Errol
Bodie. Seated: Myra Mitchell, Ricardo Deveaux, Dr Keva Bethel. Cyndi
Williams-Rahming and Adrian Sands. Missing: Sir Clement Maynard.
(patron), Vaughn Culmer, Tanya Woodside, Phenton Neymour.


versity of the West Indies.
Dr Dorsett is the owner and
medical director and owner of
the Poinciana Medical Centre
and the doctor for the Star
Trackers Track Club.
Dr Beverton Moxey has been
appointed foundation director.
He is a member of the Omega
Psi Phi Fraternity who earned
his bachelors degree in biology
pre-medicine from Hampton
University, and his MD from
Ross University School of Med-
icine.
Dr Moxey completed his
internship and specialty train-
ing in internal medicine at the
University of Virginia School
of Medicine Roanoke-Salem
Programme, where he also
served as the chief medical res-
ident.
He is an acting consultant in
the Department of Medicine at
the Princess Margaret Hospital
and an associate lecturer with
the University of the West
Indies School of Medicine.
He is also an attending physi-
cian at Doctors Hospital and
has a private practice on Mon-
trose Avenue.

Members

With these appointments,
the Bahamas Primary School
Student of the Year Founda-
tion board stands at 14 mem-
bers, the maximum number
authorised by the organisa-


tion's by-laws.
MP and former director and
vice-president of development
Phenton Neymour has been
named Vice-President Emeri-
tus of the foundation. He will
serve as an honorary member
of the board.
These appointments will cre-
ate a new leadership team that
will govern the affairs of the
foundation for the 2007-2008
academic year.
['he foundation is led by for-
mer deputy prime minister Sir
Clement Maynard and Presi-
dent Emeritus of the College of
the Bahamas Di Keva Bethel,
The current chairman is Cyn-
di Williams-Rahming and the
president and CEO is Ricardo
Deveaux.
The vice presidents are:
Carol Smith programmes
Adrian Sands chief finan-
cial officer
Dr Cindy Dorsett devel-
opment
Shane Albury logistics
Myra Mitchell commnluni-
cations
Margo Adderley ,adminis
tration and corporate secretary
The directors are:
Errol L Bodie commnuni-
cations
Vaughn Culmer-- logistics
CC LaFleur programmes
Dr Beverton Moxey -
development
Steven Strachan finance
T'anya Woodside commu-
nications


ARE YOU VEX?

Send an email to
whyyouvex@tribunemedia.net
and tell us what's on your mind


TUESDAY, SEPTEMBER 11, 2007, PAGE 9


The Tribune --..




for literacy,
College of The Bahamas



* About The Tribune's Newspaper in
Education Literacy Programme

The Tribune recognizes its responsi-


ability towards an informed and literate
citizenship. Our Newspaper in Educa-
tion Literacy Programme is an initiative
to increase awareness of the need and
importance literacy, and the role it
plays in dev, loping (onstructivc citi-
Zens


N/


\FG 7BE; =17=i


NATIONAL ART GALLERY

OF THE BAHAMAS


A component of this programme is story serialisation.
We publish stories that a-re educational, interesting and entertaining.
To learn more about The Tribune's Newspaper in Education Literacy
Programme, call 502-2394 or e-mail nie@tribunemedia.net.


THE TRIBUNE


m


Tibea nC l











"An Evening




of Writers"


Featuring:

Dr. Desiree Cox and Gordon Mills

ordon Mills was born in London

but has resided in the Bahamas
since 1981. He taught English at St
Andrew's School for almost 25 years
before moving to the College of the
Bahamas where he is editor and writer in
the Office of Communication. He has
published one book, "The Debbie Fergu-
son Story Born to Run."


B orn 'Over-the-Hill' in Nassau, Dr Desir6e
Cox is a true polymath. The first
Bahamian Rhodes Scholar, she is a med-
ical doctor, a doctor of philosophy, a jazz-
singer (recording artist), a visionary artist,
and writer. Desire has been educated at
Queens College, Nassau, Bahamas, McGill
University, University of Oxford where she
trained as a medical doctor, and University
of Cambridge where she received an MPhil
and PhD in history. She is the recipient of
numerous prizes and honors locally and inter-
nationally for her scholastic achievements and creative innovations.
In 2004 the distinguished the British Medical Journal (BMJ) featured
her in a series of profiles of extraordinary doctors describing her
as a 'renaissance woman.'


The National Art Gallery

of the Bahamas

Tuesday September 11, 2007

at 7:00 pm


The authors will share their lifelong

appreciation of reading and the role

it has played in shaping their lives.

Hear the featured authors read

selections from their work.













Minister addresses students


for Literacy Fun Festival

MINISTER OF Education, Youth,
Sports and Culture Carl Bethel
looks at eight-year-old Yellow
Elder Primary student Godfrey
Johnson's Literacy Passport at '
the Ministry's National Literacy
Services' Literacy Fun Festival at
the Town Centre Mall on
Saturday. The event was held to
commemorate International
Literacy Day and encourage the
children present to read.


New Investment
Opportunities!

KINGS
REAL ESTATE

Indigo- Investment Opportunity
A unique -pportunity to own 5 adjacent lors in ihis quaint gated
community Each lot measures 60 ft x 130 ft zoned for 15 units.
Amentiies includee double tennis court and swavmming pool. Was
$650,000 now reduced to $550,000 for quick sale

Lot *70 Hope Town, Abaco Land for Sale
Large Ic r located less than 300 ft from the beach wirt-, parhal ocean
views. Friced b sell at $285,000

Orange Hill West Bay Street Land for Sale
17.2 acies of superb oceanfront ,n the most des-rable location on
the island. Ideal for a high-end condo development or a class "A"
office/financial centre. Offered at $", 500,000

Gilingam House, Montague Class "A" Office Space Available
Sof2 56? 'tof. -1-e *a' r1,108 sq
n or common leasable area uralling 3,67U gross sq ft, Lease is $32
per sq ft with CAM charges being $12 per sq ft This floor is being
leased with partial office furnishings.

Contact Kingsley Edgecombe for more information.
Ph: 242 394 4397 / kingsley@kingsrealty.com


Gilingom House, Montague, *4 East Boy Street
P.O.Box N 10414, Nassau, The Bahamas


~a~g~~uE'I


MR BETHEL speaks at the
Literacy Fun Festival. The event .D
included activities such as R[
reading games, book sales, P r
storytelling, and giveaways.- '


Truck carrying explosives for mining industry

blows up, killing at least 34 in north Mexico


* MEXICO
Piedras Negras
A TRUCK carrying explo-
sives for the mining industry
blew up after colliding with
another vehicle in northern
Mexico, killing at least 34 peo-
ple, including three reporters at
the scene, state and federal offi-
cials said, according to Associ-
ated Press.
Authorities said the two vehi-
cles crashed into each other
Sunday evening on a busy high-
way, drawing a crowd of curious
onlookers as well as a small
army of police, soldiers, emer-


agency officials and journalists.
Shortly after the crowd
arrived, the wreckage caught
fire, and the explosives blew up,
sending a ball of fire into the
sky that consumed nearby cars
and left a three-by-15-metre
crater in the concrete, said Max-
imo Alberto Neri Lopez, a fed-
eral police official.
He initially reported 37 dead,
but lowered that number after a
more thorough count found that
some bodies, difficult to identi-
fy, were counted twice. He also
said more than 150 people were
injured.
The force of the explosion


blew out the windows of a pas-
senger bus a quarter of a mile
away.
The dead included three
newspaper reporters from the
nearby city of Monclova, said
Luis Horacio de Hoyos of the
Coahuila state Attorney Gen-
eral's Office.
It was unclear if the explo-
sive truck's driver was among
those dead. Early reports said
he might have fled the scene.
The truck was carrying car-
go from an Orica Ltd. explo-
sives plant in nearby Monclo-
va, said a federal police officer
who wasn't authorized to give
his name.
A woman who answered the
phone at Orica's offices in Mon-
clova said all company officials
were at a meeting, and she
cI; I nlot comment. The Aus-
tralia-based company is the
world's largest explosives mak-
er, with operations in 50 coun-
tries.
Monday's explosion, just a
few hours south of the Texas
border, comes amid an angry
cross-border debate about the
safety of Mexican trucks.
A new North American Free
Trade Agreement programme


implemented over the weekend
allows Mexican trucks that have
received prior approval to cross
into the US and carry cargo
throughout the country. Before,
Mexican trucks were limited to
a 25-mile section of the border.
Many in the US fought the
change, arguing that Mexican
trucks are unsafe.
Randy Grider, editor of
Truckers News magazine, how-
ever, said Mexican trucks with
hazardous materials are not
included in the new pro-
gramme.
"I think it would be a very
long time before the border
would open to hazardous
loads," he said.
President Felipe Calderon
said the federal government
would work with local author-
ities in the tragedy's after-
math.
"I want to send my heartfelt
condolences to the families of
those who lost their lives in this
horrible accident," he said in
New Delhi, India, where he was
attending the inauguration of a
museum exposition.
Coahuila state has a large
mining industry, most of it in
coal.


rniDrnmil


invites applications for the position of
MANAGER, CARD OPERATIONS

PROFILE:

7+ years in the financial services industry with 5+ years in the bank card
and/or electronic banking services and card operations management

RESPONSIBILITIES INCLUDE:

Establish operating policies, procedures & controls
responsible for daily management of card product operations and electronic
banking delivery systems
Work with internal departments, external vendors and card
associations to assure cardholder services and compliance
- Output and delivery of statements, plastics, letters and supporting
IT infrastructure
Support the development of new card and electronic banking
products and services
Team with Marketing to execute product and sales plans,
marketing strategies, customer loyalty programme
Oversee payments and application processing, maintenance of
databases, cards support training, account posting and reconciliation
Resolve cardholder disputes and process chargebacks
Administer fraud and loss prevention programmes
Participate in budgeting process
Monitor service levels and report on performance

CRITICAL COMPETENCIES:

Operations /financial focus with technical background
Demonstrated project management experience
Strong communication (verbal and written), organizational, and
supervisory skills
Strong demonstrated knowledge in banking regulation and operational risk
management
Excellent interpersonal skills. Ability to effectively interact with all levels
of management and employees


The person will report directly to the Executive Vice President and CFO
Competitive compensation package will include salary, benefits and bonuses.

The Director Human Resources

51 Frederick Street
P.O. Box N-4853
Nassau
Fax 326.3000
e-mail: careers@fidelitybahamas.com


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Share your news
The Tribune wants to hear -----
from people who are f \
making news in their
neighborhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an i4
award.
If so, call us on 322-1986
and share your story.


am
I





71


11~11


111-1-4


I. .. -


I I


THE TRIBUNE


PAGE 10, TUESDAY, SEPTEMBER 11, 2007


I


i











T H E TR^IB U N E L O C A LPNE W S


THE GROUP is pictured overlooking thousand of acres of land at Winding Bay, Eleuthera, being sought by
potential developers. Far right is Deputy Prime Minister Brent Symonette, who is responsible for the Hotel
Corporation.


SI - v-."---". ", "" arr -
THE GROUP is pictured touring the Lighthouse Club in Fresh Creek, Andros. From left are Frederick
Lightbourn, Anthony Albury, Carolyn Hanna, Sir Baltron Bethel, chairman; Bishop Simeon Hall, Michael
Scott, Mr Symonette and Charles Beneby,


Hotel Corporation directors take




a look at government properties


* By Bahamas Information
Services
FRESH CREEK, Andros -
Board directors of the Hotel
Corporation conducted a fact-
finding mission over the week-
end to examine government-
owned properties for potential
buyers.
And although mixed feelings
were expressed while touring
the once thriving Lighthouse
Club on the largest island in the
country. the government does
not intend to close its doors.
Deputy Prime Minister Brent
Symonette, who is responsible
for the Hotel Corporation, stat-
ed that the property is the last
remaining operation within the
corporation's hold.
"It is not an option to close
the hotel," Mr Symonette said.
"If you close the property, it
deteriorates very quickly and
would be very difficult to sell
it. So it's better to keep it up
and running."
He added, "The developer
who comes in has been asked
to produce a development
plan."
Over the weekend, the board
also visited Eleuthera, where
they toured the Re Urgo Hotel
proposal at the former U S
Naval Base/Alabaster; the
French Leave project; Savan-
nah Hill; the Windermere pro-
ject; Half Sound; Winding Bay;
Tarpum Bay and the Cotton
Bay project.
The board consists of Sir Bal-
tron Bethel, chairman; Michael
Scott, deputy chairman; direc-
tors Carolyn Hanna, Charles
Beneby, Lesley Cover, Bishop
Simeon Hall, Myrna Wilson,
Anthony Albury, and Freder-
ick Lightbourn.
The aim of the visit was to
update Mr Symonette, the
board and executives of the
Hotel Corporation of the real
estate holdings of the corpora-
tion on both islands and to
review the potential acquisition
and development of thousands
of acres.
It was the first tour for the


newly-appointed board, which
will now look at each proposal
and determine the way forward.
The Hotel Corporation is
focusing on its two remaining
property assets, and is set to
meet shortly to review all pro-
posals and formulate further
guidelines to be submitted to
the government.
Within 60 days, the potential
developer will receive a
response from the board, the
government said.

Decline

The Lighthouse Club suffers
from a number of challenges,
including roofs that need replac-
ing, electricity failures at the
marina, leaks in the water lines,
air-conditioning malfunctions
and the fact that it is surround-
ed by wetlands.
"The hotel currently operates
at a loss; has been doing so for
years," Mr Symonette said,
adding that several attempts
were made to sell to Bahami-
ans particularly the hotel
union.
The hotel, which is about 20-
years-old, consists of 20 rooms
and a 20 slip marina. It sits on
12 acres of land and employs
25 people.
Pegged at about $3 million at
one point, Sir Baltron said that
when you consider the entire
property; it is a valuable piece
of real estate.
He explained that the prop-
erty is up for sale in the con-
text of development, which will
accord with the policies of the
government.
"The worth of the property
is going to be largely deter-
mined by the use to which it is
going to be put and that's nego-
tiable the type of development,"
Sir Baltron said, adding that the
developer has to consider the
needs of the community and
how Bahamian interests can
also share in the development.
Management at the Light-
house has been able to create
packages in conjunction with


Former general and businessman

to face run-off in Guatemala poll


* GUATEMALA CITY

A BUSINESSMAN who
promises to fight desperate
poverty and a former general
vowing to attack crime in Cen-
tral America's most violent
country were set Monday for a
November runoff for
Guatemala's presidency,
according to Associated Press.
With 92 per cent of the vote
counted, businessman Alvaro
Colom, a three-time presiden-
tial contender of the center-left
National Unity of Hope Party,
had 28 per cent of the vote,
compared with 24 per cent for
Otto Perez, a former general
from the conservative Patriot
Party.
Nobel Laureate and Mayan
activist Rigoberta Menchu
trailed in sixth place with 3 per
cent from Sunday's election,
according to Guatemala's Elec-
toral Tribunal website.
Colom and Perez were well
ahead of the 12 other candi-
dates, but with no outright
majority for either, they will
meet in a November 4 runoff.
"We expected to be either
ahead or behind by two points
and knew we would have to
work harder before the runoff,"'
Perez said.
While calm mostly prevailed


during the election, minutes
before polls closed, about 3,000
people set a voting booth on
fire in the town of El Cerinal,
about 30 miles south-east of
Guatemala City. They then
went to the town's other voting
centre and began burning the
ballots. Police dispersed them
with tear gas.
The crowd accused El Ceri-
nal's mayor, who is running for
re-election, of bringing people
from neighboring El Salvador
to cast votes in his favour.
Sunday's vote followed a
campaign marred by the deaths
of about 50 candidates, party
activists and their family mem-
bers. The poll took place under
the watch of more than 34,000
police and soldiers.
Guatemalans cast their bal-
lots under the watchful eye of
more than 34,0(X) police and sol-
diers, on alert after weeks of
campaigning marred by vio-
lence.
About 50 candidates, party
activists and their family mem-
bers were killed in the months
before the election, underscor-
ing public safety issues plagu-
ing the Central American
nation.
Analysts say security was the
most pressing issue in the elec-
tion.


Fast Ferries, Western Air and
other businesses to bring visi-
tors from Nassau and else-
where.


Average occupancy is about
35 per cent. This figure is affect-
ed by the busy time around the
annual Crab Fest.


Over the years, the Hotel
Corporation has sold a number
of its properties, namely the
Wyndham Ambassador Beach


Hotel, now SuperClub Breezes;
the Royal Bahamian, sold to
Sandals; the Crystal Palace/
Radisson, sold to Baha Mar.


,~, .(~
Iuje. .4'...,


ml I *gRag


RBC is pleased to announce the opening of a new branch on Carmichael
Road. This new temporary location will house both RBC Royal Bank of
Canada and RBC FINCO under one roof, pending the construction of
RBC's new.flagship location one block west on Carmichael Road.

Royal Bank will offer a full range of banking products and services, while
RBC FINCO will offer a full suite of mortgage products and services.


Services include:

Business and Consumer Loans

Personal and Business Deposit Account Services

Single and Multi-family Residential Mortgages

24-Hour ATM

Foreign Exchange Services

Night Deposits

Card Services

Royal Online'" Internet Banking

and more!

Come see us at the corner of Carmichael Road and Turtle Drive. We look
forward to welcoming you to our new location soon!


-.-I~.-----~.-~- 1---~~:-~-~----r--:--- -~ :C ~ I- ~~- -----.


.-,_, i 11, 2007, PAGE 11


THE TRIBUNE









SEPTEMBER 2007


vOUP CONNECTION TO THE WORLD








The Bahamas Telecommunications Company Limited





room -a 7--


BTC presents
"SHOW ME YOUR
MOTION "


rr v I BTC proudly hivemted into Bahamian cul-
Sture by sponsoring the "Show me your
.Molaon" documentary by film director and
producer, Dr lab Srachan.
Last week Thursday. Dr. Strachan
presefethd (he company with copies of the
-r Documentary at a special presentation at
Chapter One Bookstore. "None of this
wouldd have been possible without the vision
Sad commitmnnri of BTC," said Dr.
I PE k0ti g d Saes Mmlem IJohaeu accepts a copy of Sachan, the film's Director at Produce
-M Mh i 5sme arM am the dictow 1D IaM SLm traJm


'They are making an importLat invesMIenIt
in cultural development. I thank them and I
commend them. Where other companies
balked at the idea of helping bing this film
to the Bahamian public, they saw the merit
of the project and backed it I10%"
Mr. Marion Johoson, Vice Predenld for
Marketing, Sales & Business Developoient
represented the company at the special pes-
emation.
The film showcases the music of
Bahamian greats, Eddie Minnis. Pat
Rahming, Funky D. Roots, Cleophas
Addericy and Ronnie Butler, there is an
also an original title track by Ooboii. The
docuwnmeary also features live perfo'naac-
es by children from Uriah McPhee,
Carmachae Pdmuary H 1. Nash. Oakes


Field Primary, North Andrko High School,
ihe National Children's Choir,. St.
Augustine's College, St. Anne's School an
Maurice Moore Primary in Grand Bahama
"Show me your Mot6n" was dt
only accepted film from the Bahamas in do
UNESCO Traveling Caribbean FIlm
Showcase.
This docuwmnary has be= ese i
several Caribbean counties including
Trinidad, Jamaica. Barbados and Cuba,


V
C .EL LiI


SGSM mobile


LIMITSC

On Septe* m 19*th. BTC will be..
,M -_ ; . --, . .. ... "' I.,'.


,'peak i -oe wh-a:
cat. purchased at


tires. If you find t difficult i t
your phone while drivht g
the phone go to voicemia. '

3. Let the person you a
with know that you are driv :

4. Poll onto the side other
have to make notes.

5. Do not engage inst
tiodal conversations that .d


. Obey tie traffic laws .#


with extra caution and
using your cell phone.


7. Program frequently used n
If you have several cals toi
store them before heading oti

8. Dial safely, punch in plhuO
bears at a standstill, sucth.'W 1
lights or stop signs. If possible
how to operate the phone
looking at it.


U,

Employees of the Bahamas Telecommunications Company Ltd. in Abaco recently held their
Family Fun day and Beach Picnic on July 28, 2007 at the Sandy Port Regatta site.

Wr ",t it .


9. Makesure that919is pro i
in the phone_ '
Sn --*^.i


1IU.
sweet


Keep conversations


', .


CALL BTC 225-5282 www.btcbahamas.com


We'relmproing o~ur



\LI b Inettr Yull lm \
e -erlem~c difl:tlt 2mnII
,e I-v h2e 111 rotI L, I I(rm L It


'. *'
'..^ 3
: "*'.-


Ic









TUESDAY, SEPTEMBER 11,2007


SECTION -


"' -' "- '
., ,',? .- ,, .


K',
ki


V.


business@tribunemedia.net


HELPING YOU CREATE AND MANAGE WEALTH

NASSAU OFFICE
Tel: (242) 356-7764

FREEPORT OFFICE
Tel: (242) 351-3010


Developer: Resort project





must 'get off square one'



Construction work on former Club Med site to start within three

months of all approvals received, as frustrations admitted


MBy NEIL HARTNELL
Tribune Business Editor
The multi-million dollar
resort project ear-
marked for the former
Club Med site at Gov-
ernor's Harbour "needs
to get off square one and has got to
go", its principal investor told The
Tribune yesterday, pledging that con-
struction would start within three
months of all approvals and bank
financing being finalised.
Eddie Lauth said he and his EIC
Resorts group acknowledged that
there was "a sense of frustration" on
the part of Eleuthera residents that
the 260-acre French Leave project


had yet to start some three years after
a Heads of Agreement had been
signed with the former Christie gov-
ernment.
Mr Lauth said yesterday that
French Leave had "been on hold for
one year". He explained that this was
because the project had been unable
to finalise its financing with the bank-
ing institutions set to back it.
While EIC Resorts had "met the
pre-sales requirements" set by its
bankers by attracting enough
'founder' residential real estate buy-
ers, Mr Lauth explained that the
developers were unable to convert
these non-binding reservations into
binding contracts until all permits and
approvals were received from the


Government, and agreement reached
on a "roads exchange".
Without these binding reservations,
Mr Lauth said EIC Resorts was
unable to finalise its financing with
the banks.
"We're hoping to start within three
months of having this finalised," Mr
Lauth said of the road and permit-
ting issues. "This thing has got to go.
Right now, the banks we're working
with can't start to get that finalised.
"There's certainly a sense of frus-
tration on everyone's part that this
thing needs to get off square one. The
people have been frustrated, we've
been frustrated."
On the roads issue, Mr Lauth said
that when he and his EIC Resorts


partners acquired the former Club
Med property in )004, they had to
extinguish a road that had been
vacant for 40 years.
"On the public access issue, we had
agreed to with this government and
the former government to swap some
roads, so we're trying to get those
issues resolved," he added.
"We have preliminary approval
from the Town Planning Committee
to proceed, and we're in good shape
with them. But we've been told to go
back to the BEST Commission for
both marinas, which is going to take
some time.

SEE page 5


Construction firm


preparing employees

to become quality

control certified


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
CERTIFIED Testing Labo-
ratories, a Bahamas-based con-
struction firm, is preparing its
employees to become quality
control certified in a move to
eliminate the need for foreign-
based expertise.
The company's president,
Whittington Brown, explained
that certification in concrete
and earthworks quality inspec-
tion is essential given the high
volume of construction the
country is expected to experi-
ence in the next several years.
"It's in demand, you have
various persons in the con-
struction industry who have
obtained some form of qualifi-
cations with regard to testing
materials, but Certified Test-
ing Laboratories internation-
al is the only independent test-
ing agency in the Bahamas
itself, so in order to live up to
our name we need to have our


employees qualified," said Mr
Brown.
He 'explained that his com-
pany does inspections in the
field and in the laboratories
for contractors who must have
an independent company to do
testing.
Further, Mr Brown said it
gave employees a competitive
edge. The pool had been
increased by at least seven
more persons who can do test-
ing.
This, he explained, would
eliminate the need for project
managers to bring in techni-
cians from elsewhere.
"It is a benefit for the vari-
ous project developers because
they would have the local
expertise here," he said.
The training comes at an ide-
al time, Mr Brown explained,
because of the current lull in
the construction industry.
"Things slowed down with
the competition of Atlantis

SEE page 6


Fisheries 'not in a good situation' over EPA


* By NEIL HARTNELL
Tribune Business Editor
THE Bahamian fisheries
sector is seeking a "definite
position" from the Govern-
ment on what it plans to do
about signing the Economic
Partnership Agreement (EPA)
with the European Union
(EU), one major wholesaler
yesterday telling The Tribune
that the Bahamas needed to
"protect and promote" the few
industries and export earners it
had left.
Anthony McKinney, head of
seafoods wholesaler Paradise
Fisheries, indicated that he and


Sector seeks 'definite position' from government; urges it 4-

to 'protect and preserve' dwindling industrial capacity

others in the industry had been "At this point in time. I'm to be in. The Bahamas has to
concerned about a Tribune speaking with the rest of my promote its industries. How
interview with Zhivargo Laing, colleagues in the industry." Mr many are there? What indus-
the minister responsible for McKinney said. "We certainly tries we do have, we must try
trade issues. The minister of want to find a definite position to protect and promote them."
state for finance said the Gov- from the Government in terms The fisheries industry fears it
ernment would not sacrifice of what they're going to do. It may lose $60 million worth of
the wider Bahamian econo- certainly is a concern to us, and export business with the EU,
my's.interests and rush to sign is something we will be moni- chiefly France, if the Bahamas
the EPA by its 2007 year-end touring as it affects our industry. does not sign the EPA by
deadline just to preserve the "It's certainly not a situation
fisheries industry's duty-free we want to be in. It's not a SEE page 4
'eso to ths EU marke-t good st situation f r the indusntrv


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PAGE B, TESDA, SEPEMBE 11,2007UHEITIBUN


WINNING COMBINATION Design
competition winner architect
Michael Moss, left, signs a con-
tract with Bank of The Bahamas
International managing director
Paul McWeeney for the award-win-
ning bank's new corporate head-
quarters on West Bay Street as
project manager Paul Worrell of
DHP Associates looks on.


Thursday, September 13, 2007

9am-12pm and 1pm-3pm

At British Colonial Hilton

Blue Shark Golf Course at

South Ocean

Is hiring the following:



Cart Attendants

Food & Beverage Servers

Golf Shop Associates

Cook



Appliy in person for

immediate consideration.

Interviews will be

conducted onsite.

Hope to see you there!


This is a seasonal position from October of this
year through May of 2008. Interested persons
must have a minimum of four (4) years experience
in the field, good presentation is also requested,
diplomas from the Nassau Hotel Training College
must be present as well.



The position of Head Chef de Partie will be
seasonal, with the possibility of full-time
depending on satisfactory performance: The
persons interested in filling this position must
meet these requirements: a minimum of seven (7)
years in the cooking field, standard diplomas from
The Bahamas Hotel Training College/College of
The Bahamas,.pastry knowledge, garde-manger
and most importantly fine dining experience.
Management skills and people skills are a must.
This challenging position requires the individual
to be flexible, well-experienced in classical French
cooking, and able to be at the forefront of new
Bahamian cuisine.

Interested persons should apply by faxing
resumes to The Human Resources Director,
Lyford Cay Club, Nassau, Bahamas Fax # (242)
362-6245.


Winning architect signs




contract with bank


* By DIANE PHILLIPS

B ank of The
Bahamas Interna-
tional's corporate
headquarters and
commercial centre, inclusive
of a national banking museum,
got a step closer to reality this
week when the bank signed a
contract with Michael Moss for


plans for the five-and-a-half
acre site on West Bay Street.
Partner
Mr Moss, managing partner
of The Architectural Studio.
Dowdeswell Street. submitted
the winning design in a com-
petition held late last year.
Thirteen firms entered with


Pilot House Yacht
Ideal for cruising charter or live-a-board
Very spacious & comfortable sleeps 10
Immaculate condition


For Details Call

325-1771



A leading law firm with offices located in
Nassau and Feeport is presently considering
applications for the following position.

SYSTEMS

ADMINISTRATOR
The successful applicant should possess the following
minimum requirements:
*Associates degree in related Computer Sciences
Two or more years work experience in the industry
Excellent working knowledge of Microsoft Office products
Very good working knowledge of Windows 2000/2003
Operating Systems
Experience with SQL a plus
Previous knowledge of law firm operations an asset.
General responsibilities will include but not limited to:
Maintaining, troubleshooting and repairing hardware and
software
Maintaining Network trustees and security
Maintaining system backups
Recommendation and implementation of new technologies
Liase and coordinate with various vendor-based
projects/solutions

WE OFFER
A competitive salary, Pension plan, Health and Life Insurance
and other attractive benefits.
Interested persons should apply in writing to:
The Office Manager
P.O. Box N-7117
Nassau, Bahamas


designs ranging from classic
colonial to the exotic one of
the designs resembled a glass
ship.
Judges from around the
Caribbean, along with Bahami-
an engineer Harold Munnings,
selected Moss's design with
open atriums and a high ceiling
glass centre because it most
closely met the comprehensive
criteria for the site that it pay
tribute to neighboring historic
Nassau, take advantage of the
site's high and descending ele-
vation, encompass the several
structures and extensive park-
ing requirements and maximise
views of the harbour.
The site, slightly west of the
British Colonial Hilton and
bordering Nassau Street on the
west, is the last major piece of
undeveloped prime property
in the downtown area and its
acquisition by the award-win-
ning bank is considered a boost
for the main commercial dis-
trict.
Most new corporate centres
and office buildings in the past
decade have been built well to
the east or west of downtown
and the bank's decision to
locate in the historic district
signalled a belief that the heart
of Nassau remains the heart of
commerce for New Provi-
dence.
Mr Moss, whose firm has
designed numerous commer-
cial and residential projects in
the Bahamas and abroad, said
plans, including all working
blueprints and specs, would
take about 12 months.
Paul Mc'e ceney managing
director of the bank, recently


named Business of the Year
by the Bahamas Chamber of
Commerce, said he was often
asked 'Why a competition?
Wouldn't it be easier just to
appoint an architect and get
on with the project?'
The competition, he admit-
ted, was more time-consuming
and expensive, but those draw-
backs paled by comparison to
the results it generated.
"We wanted architects and
architecture students with the
best and brightest ideas to have
a chance to express themselves
and, in so doing, provide the
basic design for us to work
with in building the most out-
standing project along the Nas-
sau harbourfront," he said.
Views
"Because of the views
afforded by the land we pur-
chased, we wanted participants
to preserve and maximise the
view while keeping in mind the
scale and scope of island archi-
tecture. I believe with the win-
ning design, we have achieved
that goal and we are excited
about moving forward."
Completed, the project will
include a headquarters build-
ing, a bank and financial ser-
vices centre, revenue-produc-
ing rental office space, fitness
centre, full cafeteria, child care
facility for staff, archival stor-
age and.an emergency sec-
ondary operating centre.
A museum tracing the his-
tory of banking, currency and
trading will be a prominent
feature and is expected to
become a visitor attraction.


LAW FIRM
Seeking:
* Attorney with at least two (2) years civil litigation
experience
* Conveyancing experience an asset
* Competitive salary offered
* Attractive profit sharing plan


Please submit cover letter and resume by fax or post to:

Office Manager
Fax: 325-5411
P.O. Box N-1000
Nassau, Bahamas


PAGE 2B, TUESDAY, SEPTEMBER 11, 2007


THE TRIBUNE












Bahamas billionaire takes seven per



cent stake in Wall Street blue-chip


* By NEIL HARTNELL
Tribune Business Editor
A Bahamas-based
billionaire, who is
a major investor
in the proposed
$1.3 billion Albany Golf &
Beach Resort, has quietly accu-
mulated an almost 7 per cent
stake in blue-chip Wall Street
investment bank, Bear Stearns,
over a two-and-half-month
period, it was announced yes-
terday.
Lyford Cay resident Joe
Lewis spent $860.403 million
to acquire a 6.97 per cent stake
in Bear Stearns through five
Bahamas-domiciled Interna-
tional Business Companies
(IBCs) between July 20, 2007,
and September 7, 2007, leaving
him as beneficial owner of just
over eight million shares in the
investment bank.
In a filing with the Securi-
ties & Exchange Commission
(SEC) yesterday, Mr Lewis
was described as a director and
president of all four Bahamian
IBCs involved in the share pur-
chases, Aquarian Investments,
Cambria Inc, Darcin Inc, Man-
darin Inc and Nivon Inc.
A permanent resident of the
Bahamas, Mr Lewis was said
to be the "sold indirect owner"



INSIGHT

For the stories
behind the news,
Pead IIsig
on Monday


and controller of the five IBCs,
directing and managing their
securities investments. All five
IBCs have the same New Prov-
idence address, namely PO-
Box N7776, Cay House, E. P.
Taylor Drive, Lyford Cay.
The shares were purchased
by the five IBCs for prices
ranging from $103.05 per share
to $150 per share, and Mr
Lewis has the power to vote
those shares and dispose of
them if he so chooses.
It is unclear why Mr Lewis
would target Bear Stearns,
especially in the wake of the


troubles several funds man-
aged by the bank have experi-
enced from the financial mar-
ket credit squeeze and sub-
prime mortgage woes in the
US.
Mr Lewis, though, has a rep-
utation as a 'value buyer' and
as being someone who, once
he says he is going to do some-
thing, does it and makes good
on all his promises. It is likely
that he believes there is fur-
ther upside potential in the
Bear Steams stock that others
have not seen.
An extremely private per-


son, Mr Lewis makes most of
his worldwide investments
through the Orlando-based
Tavistock Group, which acts
almost like a private equity
vehicle for himself and his fam-
ily.
It is the Tavistock Group
that is a major shareholder in
the Albany project proposed
for southwestern New Provi-
dence, a development that
involves Mr Lewis's close
friends, Ernie Else and Tiger
Woods, as fellow investors.
Mr Lewis is also the major
controlling shareholder of New


Providence Development
Company, the largest private
landholder in New Providence,
which developed Old Fort Bay
and will be providing some 488
acres of Albany's 565-acre site.
Mr Lewis purchased New
Providence Development
Company with business part-
ner Terry White from the E.
P. Taylor estate in 2001, and
Albany is an effort to capitalise
on and leverage the value of
their existing landholdings in
the Bahamas.
The Tavistock Group has a
long track record of developing


successful luxury, upscale resi-
dential communities, especial-
ly Lake Nona and Isleworth in
Florida. Other investment
areas the company has target-
ed include life sciences, appar-
el and leisurewear distribution,
the restaurant business, and a
controlling majority stake in
English Premier League club,
Tottenham Hotspur.
Mr Lewis, a British citizen,
began in the restaurant busi-
ness before making his fortune
in currency speculation on the
global foreign exchange mar-
kets.


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AutoCAD 2008

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Register by September 14, 2007.
Contact:


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Office Assistant/Training Coordinator
Tel: 242-393-2164
Email: candice@lignumtech.com



SEATS ARE

LIMITED!! !


WAITERS/WAITRESSES
The successful applicant must assist in arranging table service.
Set-up cocktail tables and chairs. Polish and place water goblets,
salt and pepper, ashtrays and sugar bowls on tables etc. Assist
in seating Members/Guests, presenting menus, taking orders and
obtain account or room number when taking orders.
Must have overall knowledge of mixed drinks and their
ingredients. Responsible for all cocktail orders on assigned
stations. Ensure service is meeting guests/members satisfaction.
Interested persons should apply by faxing resumes to
The Human Resources Director,
Lyford Cay Club, Nassau, Bahamas
Fax # (242) 362-6245.


SHAREHOLDERS' MEETING NOTICE

FOR

BANCO POPULAR INTERNATIONAL LIMITED

Notice is hereby given that an Extraordinary general meeting
of the Shareholders of the above-named Company will be
held on Monday, September 17, 2007 at 3p.m. at the British
Colonial Hilton Hotel, No. 1 Bay Street, Nassau, Bahamas.

The Agenda item:

1. The appointment of a successor Liquidator.







I Inst!Ii'te

of, e liolgi


TUESDAY, SEPTEMBER 11, 2007, PAGE 3B


THE TRIBUNE


Joe Lewis, Albany investor and New Providence Development


I I
Company controller, in Bear Stearns move


^ !


K~L








THE TRIBUNE


PAGE 4B. TUESDAY, SEPTEMBER 11, 2007


Fisheries 'n





situation'


ot in a good





over EPA


FROM page 1


deadline. The agreement is due
to take effect by January 1,
2008, and failing to sign could
cost the sector duty-free access,
raising the price of their prod-
ucts compared to rival pro-
ducers and making them
uncompetitive.
Mr McKinney said the
Bahamas was the world-leader
in exports of spiny lobster to
the EU and France, but if
Bahamian fisheries exporters
lost their duty-free market
access, a tax of between 8-12
per cent was likely to be added
on to their prices.
Rival
This would give rival export-
ing countries the opportunity
to seize business from the
.-Bahamas and reduce this
nation's EU market share by
obtaining duty-free access
themselves.
Mr McKinney pointed out
that Bahamian lobster was
already relatively expensive,
and if this nation lost its EU


market, the only alternative
destination was the US. As a
result, the US would become
flooded with an oversupply of
Bahamian crawfish and other
products, causing a price drop
and fall in revenues and profits
for all concerned.
Money
It's a lot of money," Mr
McKinney said of the $60 mil-
lion in seafoods exports the
Bahamas sent to Europe every
year, "and it's hard foreign cur-
rency. It's not like other activ-
ities where only 10 per cent or
5 per cent of customer spend
stays in the Bahamian econo-
my. It's hard currency going
into buying something that
we're developing."
If the Bahamas lost duty-free
EU access, and in turn lost
business, the impact is likely
to be felt at all levels of
Bahamian society. It will reach
downwards from exporters
such as Paradise Fisheries,
Tropic Seafood (Bahamas
Food Services) and Geneva
Brass Seafoods, who have
invested millions in their plants
and processors to meet EU


For The Return of Ken Chaplin's
Dell Laptop Computer
Please Return to ERA Dupuch Real Estate
East Bay Street
No Questions Asked
Tel: 422-4677 or 393-1811






Responsibilities:
Day to Day running of the store
Inventory Control
Day to Day sales
Computer literate
Must have a good personality


Please provide your resume to:


Andrew Aitken Frame Art
50 Madeira Street
Palmdale Ph.: 325-1771



Royal Island (Bahamas) Limited
INVITATION FOR EMPLOYMENT

Royal Island (Bahamas) Limited, the developers of the Royal
Island Resort and Residential Project, just off North Eleuthera
wish to fill the following position:

General Manager/Director of Golf

The General Manager/Director of Golf will oversee
the total club and golf operation, including staffing,
merchandising, food and beverage, instruction programs, budget
management and carts. The position shall be a high profile
position and will in addition to the above provide the
highest level of service to members and guest. The General
Manager Director of Golf will train employees to do so as well.
This person must be easily 'accessible and visible to
members and hotel guests.

Qualifications and Experience:

A minimum of five years experience as Director .of Golf or
General Manager in a private clubresort location is required.
Budget preparation and budget management experience is also
required. The successful candidate will be required to reside
at Eleuthera.

Harcourt Management Services Ltd.
P.O.Box N 1991
Nassau Bahamas

Fax to: (242) 356-4125

Or Email to: info@gomezcorp.com

Royal Island (Bahamas) Limited thanks all applicants for their
interest, however only those candidates under consideration
will be contacted.


health and safety standards, to
fishermen and the people they
purchase their gas and com-
pressors from.
Mr McKinney said fisher-
men were already having to
pay gas prices that were
"through the roof".
Mr Laing previously told
The Tribune that while the
Government would do what it
could to preserve duty-free
market access to the EU for
the Bahamian seafoods indus-
try and Polymers Internation-
al, and was moving as rapidly
as possible to develop an all-
encompassing trade policy, it
would not be 'held hostage' by
the January 1, 2008. deadline
for the EPA to take effect.
"We are not moving with a
view to completing the EPA
negotiations," Mr Laing said.
"We are moving with a view
to establishing for the
Bahamas a trade policy that
responds to every trade
arrangement, and we have to
have adequate time to do that.
Time
"It will take time; I don't
know how much time. If it
allows us to complete the EPA
negotiations, fine. Over the


next eight to 12 months, we
will be in a position to com-
plete our Memorandum of
Trade Regime and establish
the fundamental issues in rela-
tion to trade policy. That will
put us in a much better posi-
tion to deal with any trade
arrangements.....
"We will try to preserve and
protect the interests of those
threatened if we do not con-
clude the EPA by December;
we will do as much as we can.
We have certainly taken note
of their concerns. But as we
indicated, these trade arrange-
ments have implications for the
broader economy, and all these
implications have to be taken
into account before we move."
Concerns
Among the Government's
concerns over the EPA's wider
implications are the fact that
it could contain hidden provi-
sions exposing the Bahamian
financial services industry to
tax information exchange,
although this has been dis-
counted by the CRNM, which
said CARICOM countries had
successfully resisted its inclu-
sion in the EPA.
Mr Laing listed other con-


3 8





NOTICE
COMMONWEALTH OF THE BAHAMAS 2007/CLE/equ/00471

IN THE SUPREME COURT

Equity Side

ALL THAT parcel of land containing 5.48
acres bounded on the NORTH and WEST of
Monastery Park Subdivision and EAST
of Hill Side Park Subdivision in the eastern
district of the island of New Providence
within the Commonwealth of The Bahamas.

AND
IN THE MATTER OF THE QUIETING TITLES ACT, 1959
AND
IN THE MATTER OF THE PETITION of
RA YMOND KERR

RAYMOND KERR, the Petitioner herein claims to be
the owner in fee simple in possession of the said piece
parcel or lot of land and had made application to the
Supreme Court of the Commonwealth of The Bahamas
under Section 3 of The Quieting Titles Act,1959, to
have the said piece parcel of lot of land investigated
and the nature and extent thereof determined and
declared in a Certificate of Title to be granted by the
Court in accordance with the provisions of the said Act.
Copies of a diagram or plan showing the position
boundaries shape marks and dimensions of the said piece
parcel or lot of land filed in this matter may be inspected
during normal working office hours at the following places:
1. The Registry of the Supreme Court, Ansbacher
House, East Street, Nassau, The Bahamas; and
2. The office of Arthur D. Hanna & Co., 10
Deveaux Street, Nassau, The Bahamas, attorneys for
the Petitioner;
NOTICE is hereby given that any such person
having drawn a right of dower or an adverse claim or a
claim not recognized in the petition shall within Thirty
(30) days after the appearance of Notice herein filed in
the Registry of the Supreme Court in the City of Nassau
aforesaid and serve on the Petitioner or the undersigned
a statement of his, her or its claim in the prescribed
form verified by an Affidavit to be filed therewith.
Failure of any such person to file and serve a Statement
of his, her or its claim on or before the said Thirty (30)
days herein will operate as a bar to such claim.

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


cerns as intellectual property
rights and competition policy.
To comply with WTO rules,
the EPA has to be a two-way
system of trade preferences
involving reciprocity, where
the concessions offered to
Bahamian exporters by the EU
have to be given in kind to EU
imports coming into this
nation.
Areas
Other areas that are likely
to be impacted by the EPA are
government procurement, the
investment approvals process
and the National Investment
Policy that restricts certain
areas of the economy to
Bahamian ownership only and,
potentially, Immigration policy
and the movement of workers.
However, Mr Laing said the
"overriding" concern was the
fiscal impact, and the effects
on the Bahamian tax system, if
the Bahamas allowed in EU
imports duty-free to this
nation. This, he indicated, had
potentially wider ramifications
down the line if the Bahamas
had to negotiate a replacement
for the Caribbean Basin Ini-
tiative (CBI) with the US.
Among the Government's
concerns over the EPA's wider
implications are the fact that
it could contain hidden provi-
sions exposing the Bahamian
financial services industry to
tax information exchange,
although this has been dis-
counted by the CRNM, which
said CARICOM countries had
successfully resisted its inclu-
sion in the EPA.
Mr Laing listed other con-
cerns as intellectual property
rights and competition policy.
To comply with WTO rules,
the EPA has to be a two-way
system of trade preferences
involving reciprocity, where
the concessions offered to
Bahamian exporters by the EU
have to be given in kind to EU


imports coming into this
nation.
Other areas that are likely
to be impacted by the EPA are
government procurement, the
investment approvals process
and the National Investment
Policy that restricts certain
areas of the economy to
Bahamian ownership only and,
potentially, Immigration policy
and the movement of workers.
However, Mr Laing said the
"overriding" concern was the
fiscal impact, and the effects
on the Bahamian tax system, if
the Bahamas allowed in EU
imports duty-free to this
nation. This, he indicated, had
potentially wider ramifications
down the line if the Bahamas
had to negotiate a replacement
for the Caribbean Basin Ini-
tiative (CBI) with the US.
Others, though are likely to
be dismayed at the Govern-
ment' stance, believing this
nation has the ability to reserve
its position and not sign on to
anything in the EPA that it
believes is not in its interest.
They are likely to argue that
missing the EPA deadline will
cost the Bahamas jobs, EU
market access and further
reduce the number of manu-
facturers, exporters and for-
eign-exchange earning indus-
tries based in this nation.
Signing
Signing on to the EPA
would also mean the Bahamas
could lose $10-$14 million in
annual tax revenues through
allowing EU imports to enter
duty free, but it would be able
to maintain duty-free access
for its exporters, and a $20 mil-
lion positive trade balance with
the EU. Currently, the
Bahamas exports $66.315 mil-
lion worth of products to the
EU, based on 2004 figures, and
imports $42.93 million. Some
$35 million of the Bahamas'
exports are seafood products.


Legal Notice


INTERNATIONAL BUSINESS COMPANIES
ACT
(No.45 of 2000)

DINVEST INTERNATIONAL CORP.
In Voluntary liquidation
Notice is hereby given that in accordance with Section 137 (4)
of the International Business Companies Act (No. 45 of 2000),
DINVEST INTERNATIONAL CORP. is in Dissolution.
The date of commencement of dissolution is the 5th day of July, 2007.

Epsilon Management Ltd.
Suite 13, First Floor
Ollaji Trade Centre
Francis Rachel Street,
Victoria, Mahe,
Republic of Seychelles
Liquidator


A Swiss private bank wishes to recruit an




Responsibilities include:
* Accounts Payable functions
* Bank reconciliations
* Booking of general journal entries
* Spreadsheet data input and analysis
* Monthly and quarterly reporting
* General filing and typing


Ideal employee profile:
* Computer literate with proficiency in
MS Excel and MS Word
* Basic accounting skills
* Attention to detail
* Strong verbal and written communication
skills
* Ability to work with minimum supervision
* Professional demeanour

Compensation will be commensurate with experience
and qualifications. Please send your resume to:
DA 7331, c/o The Tribune
P.O.Box N3207
Nassau, Bahamas


I


^1H^BI^H^^I^^^^^HI^H^^I|^l^l|^HIHBUSINESS ^B^^^^^^^^^^^^^^H^









THE TIBUN TUEDAYSEPTEBER 1,2U7,IPGES5









B BuyesWke
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* By CARA BRENNEN-BETHEL
Tribune Business Reporter
Mark A Turnquest and the
Small Business Resource
Centre will host a Business
Survival Workshop in
November designed to provide future
entrepreneurs with essential hands-on
skills they will require to be successful.
"This is a continuation of the Business
Survival Series that we are hosting," Mr
Turnquest told Tribune Business vester-
day.
"In March, we had our seminar, where
people got to hear from a wide array of
speakers, and now we have our workshop,
where we are putting them to work. They
will be able to build their own business
plans."


Mr Turnquest said the course will be
particularly beneficial for aspiring entre-
preneurs who in many cases bile off more
than they can chew when starting their
companies. "This would be very useful
and helpful for them.," lie said. "Some-
thing of this nature is really needed, but it
is not often offered, especially for them to
be able to get hands-on experience, so I
hope that people will come and receive
something valuable."
He added objectives of the sessions are
to:
Inform new entrepreneluIs about the
different procedures on ho,w to sta t, man-
age and grow their businesses.
Provide information on the knowl-
edge and skills (from management to secu-
rity issues) that are necessary to operate a
successful Small/Medium Si/ed Business


(SMB) in The Bahamas and to identify
relevant government departments, finan-
cial and non-financial institutions that
cater to SMB development.
Enlighten SMB owners/managers
about the importance of obtaining ser-
vices of business professionals (service
providers): accountants, attorneys, insur-
ance agents, economists, financial plan-
ners, bankers and
business/marketing/inanagement/humaii
resources/lT consultants.
Provide SMB managers with practical
skills on how to successfully develop and
execute business plans.
'IThere are two workshop sessions: Sat-
urday, November 3, and Saturday, Novem-
ber 17, at the British Colonial I lilton. Per-
sons are encouraged to utilise both ses-
sions as they have different content.


DEVELOPER, from 1


"We're committed to getting
both marinas up and running
in as short a time as possible.
The one at Governor's Har-
bour is our priority in the
short-term."
Mr Lauth presented his
plans for the French Leave
project to a Town Meeting on
Eleuthera last week, telling
The Tribune that most con-
cerns raised involved access to
the beach for Bahamians.
"I think they were surprised
to find we were one the same
page," Mr Lauth said. "It's not
a situation where we're creat-
ing a gated community. it's not
a situation where there's going
to be a loss of Crown or Trea-
sury land. We have one mile
of beach, and there will be four
or five access points for
Bahamians.
"Not everyone is going to be
favourable.' but I hope people
-kno-w we're making the effort.
It's a difficult project to get off
the ground, but there's no
excuses."
Mr Lauth added that the
Town Meeting also showed
residents the importance of the
French Leave project having
one parcel of land, rather than
three or four disjointed pieces
that were not linked.
He added: We're very
pleased at how quickly gov-
ernment met with us. We hope
we stay on the fast track.
I'm cautiously optimistic,
knowing we certainly have a
sense of urgency from the
Government, which was very
reassuring and we like very
much."
The first phase at French
Leave will consist of 68 luxury


condominiums, all no higher
than two-storeyvs, on the ocean-
front. Included among the con-
dos will be 10 cottages.
Other components of the
first phase include 17 villas and
10 oceanfront home sites, plus
a 50-slip marina at Governor's
Harbour for luxury yachts.
In a previous interview, Mr
Lauth said E1IC Resorts was
seeking a supplemental Heads
of Agreement with the Gov-
ernment as the projected
investment in the project was
likely to increase from $40 mil-
lion to $200 million.
Mr L'auth said the first phase
would cover about 200 acres.
Future expansions after that
will include interior home sites
on the ridge overlooking Gov-
ernor's Harbour, and one to


two-bed antique cottages
around thlie (im ernor's Har-
bour ma ina;.
SIle added that French Leave
was likely\ to employ "a few
handled people" during the
construction phase, and 'easi-
ly" 10() full time workers once it
became full\ operational. The
project. Mr L auth said, was
also likelI to generate at least
100 spin-ol f jobs, and French
Leave w\as also seeking gov-
ernment approval to use wind
turbines and solar panels to
generate its electricity.
Mr Lauth said French Leave
had also set aside 50 acres of
land on the southern ridge of
Governor's Harbour to be
developed by Bahamians only.
There were also plans for a
clinic and police station.


U


, ^a.L4


r


each lout
chitt10


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SANTANDER BANK & TRUST LTD.

has an immediate vacancy for a

INFORMATION TECHNOLOGY MANAGER

At least 5 years experience in supervising and managing the IT Department of a
Bank or financial institution.

Qualifications required:
1 Bachelor of Science Degree in Computer Science or related field.
2 5 years experience maintaining a network running under Windows and
supporting the full Microsoft Office suite of products.
3 Experience in visual basic language and SQL database.
4. Knowledge of Unix, LINUX and Windows 2000/XP.
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6. Must be familiar with all phases of project management and Microsoft
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7. Experience in electronic document processing and workflow systems.

Desirable:
Fluency in Spanish.

Applications in writing with details of education and experience should be
addressed to the Human Resources Manager, P. 0. Box N 1682, Nassau, Bahamas
not later than September 21, 2007.


is seeking to hire a
Utilities Operator
The successful applicant should possess the following:
V High school diploma with BGCS1E in Math. English
and in one of the sciences or the equivalent.
At lease three years experience in operation of utility
equipment (Boilers, Cooling Plant. Compressor s or
similar equipment).
V Basic computer skills necesszu\ (.1 \f.cIl ,pieadNeects)
The ideal candidate must be a team pla eri and v" killing to
work in a three shift rotation system.
Kindly fax resumes to the
Human Resource Manager at 302-2939


TUESDAY, SEPTEMBER 11, 2007, PAGE 5B


THE TRIBUNE


f .I ~i~







THE TRIBUNE


Industrial metals prices slide





on economic growth concerns


* By LAUREN VILLAGRAN
AP Business Writer

NEW YORK (AP) Indus-
trial metals prices slid Monday
as investors, eyeing volatility on
Wall Street and an unexpected
contraction in Japanese eco-
nomic activity, grew uneasy
about the health of the US
economy.
Elsewhere, energy prices had
a late-day rally, while agricul-
ture futures finished mostly
higher and gold gained strength.
The Japanese government
said overnight its gross domestic
product fell 1.2 per cent on an
annual basis in the April-June
quarter, a surprising contradic-
tion of a preliminary estimate
for economic expansion of 0.5
per cent. The revision and an
early decline on Wall Street fur-
ther unnerved investors who
have been worried about"'the
pace of US economic growth.
An economic slowdown
could pose risks for base metals
demand, and the prices of met-


als such as copper, zinc and
nickel have suffered as a result.
Energy prices sagged through
much of August due to eco-
nomic growth concerns but
recovered in recent days on
strong supply and demand fun-
damentals.
Overseas, base metals prices
fell Monday as inventories of
aluminum, zinc and nickel
swelled. Chinese demand for
industrial metals has been a
major driver of higher prices.
But an increase this year in Chi-
nese exports of zinc has pres-
sured prices; the China Nonfer-
rous Metals Industry Associa-
tion expects zinc production to
rise by more than 20 percent in
2007, said BNP Paribas analyst
David Thurtell in a client note.
Zinc prices lost 4.3 per cent at
the close of the London Metal
Exchange, bringing the year-to-
date decline to 36 per cent.
Copper prices sagged in Lon-
don but turned higher on the
New York Mercantile
Exchange before the close.


December copper edged up
0.45 cent to $3.256 a pound.
Workers at Southern Copper
Corp. mines in Peru are slated
to strike on Wednesday but
were in talks with management
on Monday.
JPMorgan analysts said in a
note Monday, "credit market
stress and a US slowdown will
not hit commodities equally.
Base metals and energy should
fare the worst, and precious
metals the best."
Many investors now expect
the Federal Reserve to cut its
benchmark federal funds rate
at the central bank's meeting
on September 18.
Expectations for an interest
rate cut have undermined the
dollar, which could make dollar-
denominated commodities
more attractive to foreign
investors. In particular, dollar
weakness has bolstered gold as
investors have sought a haven
from inflation.
The gold extended its rally
Monday after prices rose four


per cent last week. With the
dollar falling against the euro
but trading mixed against other
major currencies, December
gold rose $2.50 to close at
$712.20 an ounce on the New
York Mercantile Exchange.
Gold broke through $700 last
week as the US dollar sank to
15-year lows against six of its
most actively traded peer cur-
rencies, according to a Blan-
chard & Co. research note.
Silver and platinum prices
slipped, meanwhile. December
silver fell six cents to $12.70 an
ounce, while October platinum
fell $1 to close at $1,294 an
ounce.
Energy prices spent most of
the session on the decline, as
the market priced in specula-
tion that OPEC may go for an
increase in crude output when
the group meets on Tuesday.
The Organization for Petrole-
um Exporting Countries, which
produces about 40 per cent of
the world's oil, had long been
expected to hold production


levels steady at the meeting.
Expectations for continued
shrinkage in US crude oil and
gasoline stocks supported high-
er crude prices. The Energy
Information Administration
reports petroleum inventories
on Wednesday. Also boosting
prices was news that Mexican
pipelines were attacked early
Monday by a militant group,
causing explosions, fires and gas
leaks.
Light, sweet crude for Octo-
ber delivery rose 79 cents to set-
tle at $77.49 on the Nymex,
while October gasoline futures
slipped 0.78 cent to $1.9786 a
gallon. Nymex natural gas rose
39 cents to settle at $5.891 per
1,000 cubic feet.
In Chicago, wheat prices
surged Monday after the crop in
Australia didn't get rain expect-
ed over the weekend, exacer-
bating concerns about global
grain supplies.
The price of wheat has
climbed roughly 70 per cent
since May on an explosive com-


bination of strong worldwide
demand and shrinking supply.
Foreign buyers have been unde-
terred so far by the sharp run-
up in prices, as countries
worried by this year's paltry
harvests in major producing
regions try to lock in sup-
plies of wheat.
Wheat supplies worldwide
have dwindled rapidly this year
after crops in the US, Europ'
and elsewhere were damageUl
by poor weather. Now dryness
is again plaguing Australia s
crop and has hurt expectations
for yields in that country.
December wheat gained 17.5
cents to settle at $8.61 a bushel
on the Chicago Board of Trade.
The price of wheat has climbed
about $3.60 since April 30 and
stands at all-time highs.
Corn prices slipped, meair-
while, while soybeans rose oh
the CBOT. December corh
dipped 1.5 cents to $3.46 a
bushel, while November soy-
beans added 12.75 cents to $9.18
a bushel.


LEGAL NOTICE


NOTICE


JABOT.INVESTMENT LIMITED
(In Voluntary Liquidation)


Creditors having debts or claims against the above-named
Company are required to send particulars thereof to the
undersigned at Ocean Centre, Montagu Foreshore, East
Bay Street, P.O. Box N-3247, Nassau, Bahamas as sole
Liquidator on or before the 24th day of September, 2007.
In default thereof they .will be excluded from the benefit
of any distribution made by the Liquidator.

Dated the 7th day of September 2007.

LYNDEN MAYCOCK
Liquidator




LEGAL NOTICE


NOTICE


KALSCI BAHAMAS INC.


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 30th day of August, 2007.


LYNDEN MAYCOCK
Liquidator
of
KALSCI BAHAMAS INC.


Construction firm preparing



employees to become quality



control certified


FROM page 1

Phase Three. Most of the work
is winding, so when it picks up
again, they will be certified and
ready to handle the construc-
tion boom.
"What we are trying to do
is upgrade staff. Once they
pass they are fully certified."
Wayne Rilko, associate in


the Engineering Centre for
Transportation Training at the
University of Florida, who is
in Nassau to teach the course,
explained that the 11 partici-
pants seven in concrete
inspection and four in earth-
works (soil inspection) will
have to sit several theory and
practical exams by week's end.
"They should know their
results within two weeks.: he


Pricing Information As Of: C F A L'"
IMonday 10 September 2007
r'rW- ", .is W .BAHAMAS COM FOR MORE bATA & INFORMATION
S. ". .aJ37B.46 / CHG 03.06 %CHG 00 161 YTD 200.27 / YTD % 11 95
152wk-Hi 52wh-Lov Securlt yProe,ous Close Today's CI.:,ae Cnj:n. J.? 1.1, .:i E z I 0L.. i FE r
1 78 0 54 Abaco Markets 1 60 1 6.0 ,, 'J '' N .1 0.
11.70 11.00 Bahamas Property Fund 11.70 11.70 0.00 1.527 0.400 7.7 3.42%
9.50 7.50 Bank of Bahamas 9.50 9.50 0.00 0.733 0.260 130 2.74%
0.85 0.70 Benchmark 0.85 0.85 0.00 0.048 0.020 17.7 2.35%
3.74 1.50 Bahamas Waste 3.74 3.74 0.00 0.279 0.060 13.4 1.60%
1.62 1.20 Fidlty BanRk' 1.62 1.62 0.00 0.064 0.040 25.3 2.47%
10.80 9.40 CableBahamas 10.80 10.80 0.00 1,000 0.949 0.240 11.4 2.22%
3.10 1.80 Colina Holdings. 3.10 3.10 0.00 0.281 0.080 11.0 2.58%
15.28 11.35 Commonwealth Bank 15.28 15.42 0.14 6.000 1.190 0.680 12.8 4.45%
7.22 4.70 Consolidated Water BDRs 5.80 5.95 0.15 0.112 0.050 52.8 0.85%
2.76 2.20 Doctor's Hospital 2.31 2.31 0.00 0.281 0.000 8.2 0.00%
6.40 5i54 Famguar' 6.05 6.05 0.00 0.804 0.240 7.5 3 97%
12.77 11,51 Finc , 12.77 12.77 0.00 0.787 0.570 16.2 4.46%
14.70 13.69 FirstCaribbean f 14.65 14.65 0.00 0.977 0.470 14.6 3.2 Y1%
6.05 5.18 Focol (S), .. 6.02 6.05 0.03 10,000 0.364 0.133 16.5 220%
1.00 0.54 Freeport Cotrte 0.70 0.70 0 .00 -0.415 0.000 N/M 0.00%
8.65 7.10 ICD Utilities 7.25 7.25 0.00 0.411 0.200 17.6 2.76%
10.01 8.52 J. S. Johnson 10.01 10.01 0.00 0.946 0.580 10.6 5,79%
10.00 10.00 Premier Real Estate 10.00 10.00 0.00 1.167 0.600 8.6 6.00%
," dt Over The-Counter Securilies
52wk-Hi 52wK-Low Symool Bid IE i ,f I r.. .:. ..,_., ._ .. i i P/E Yield
14 60 12 25 Bahamas Supermarkets 1. 60 U, *',' '. 1- 1" I J485 13.9 10.17%
10.14 6.00 Caribbean Crossings (Pref) 6.00 6.25 6 00 0.000 0.480 NM 7 80%
0 54 0 20 RND Holdings 0 3, . -0.030 0.000 N/M 0.00%
. 'r-Tho-Counter SecurttIes
41 00 41 00 ABDAB 4 1 00 .1 :u'"t' j' ,',i 4.450 2.750 9.0 6.70%
14.60 14.00 Bahamas Supermarkets 14.60 15.50 14.00 1.125 1.485 12.6 10 17%
0.55 0.40 RND Holdings 0.45 0.55 0.45 -0.030 0.000 N/M 0 00%
vIm ?.glwlm, iB.1 .. IBISX Listed Mulual Funds
52k.- 52'k'Low Fnd Name NN TL- I .,ii i. Muloth Div $ Yield %
1.3544 1.3064 Colina Money Market Fund 1.354375"
3.3402 2.9449 Fidelity Bahamas G & I Fund 3.3402***
2.8869 2.4606 Collna MSI Preferred Fund 2.886936***
1.2698 1.1923 Colna Bond Fund 1.269803***
11 6581 1622 Fidelity Pri;me Income Fund 11 65618."
41W.72 Y'TO 14.231 / 200Utj 34.47%
BISs ,.LL SHIARE INDEX 1l Dea, -2 1 00000 MARKET TERPT. ,,, ," ,, ,, ,, , Ice API-VI JY
52wk-HI Highest closing price In last 52 week Bid $ Buyln.y prices of (Colh M1nd H-11 Illlty
52wk-Low Lowest closing price In last 52 weeks Ask $ SellinU prich of ColnI and ftdollty 1 Au.t! .'itl/
Previous Close Previous day's weighted pricr for dally volume Last Price Last traded ovor- th-c:ounter [pri:f ii Junn. 2i00
Today Close Current day's weighted pri'e for daily volume Weekly Vol Trading volun ,,) ti, i,, rr week 1 A1ugI!t .'00 1
Change Change In closing price from day to day EPS $ A company's r. ported omrni gs, per th,.rot for the l.st 12 mth. .... :I J.l\, 2001
Daily Vol. Number of total shares raded today NAV Net Asset Vilue
DIV$ Dividends Pe shharpaol ith, lat l2nt1 tOU N/M Not Meaningful
P/E Cr.4-n.9ptpreedlrtdbI bstetaliatt 12na r i. .' FINDEX The Fidelity Bahamas Stock Index. January 1. 1994 100
S) 4-for-l iodi Spi .t lm D sr .
"E t ..kA4MP77e/4 I FOt MORE DATA & INFORMATION CALL (242) 394-2503


explained.
Once successful, the men
would be certified as concrete
field inspectors or earthwork
construction inspectors "and
the qualification would be
through the Florida Depart-
ment of Transportation." he
added.
"It does make the employee
more valuable because the
qualifications are good for five
years," said Mr Rilko.
Mr Brown said staff are
beginning to see the benefits
of furthering their skills.
"They are excited and a bit
nervous, but they realise that
once they are qualified, the
work will be there for them.
because after working here
they will also be on the Florida
database."
Reflecting on current edu-


national challenges, Mr Brown
noted that the course does
require some strong mathe-
matical and literacy skills
which highlight the need to
ensure that persons leaving
school have a basic knowledge
coupled with a willingness to
learn.
Mr Rilko said the certifica-
tion process also helps them
have more confidence to trou-
bleshoot on the job.
He said that construction
methods are very similar in the
Bahamas and in Florida.
"The one thing that I noticed
that was a surprise to me is the
volume of vehicles on the
roads and it tells me there is a
demand for a good highway
system and with that we need
confident contractors and qual-
ified technicians."


NOTICE

NOTICE is hereby given that SUSAN CARLA WALKER
of CHRISTIE TERRACE, P.O. BOX N-7776, 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 11TH day of
September, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Nassau, Bahamas.



NOTICE

NOTICE is hereby given that LINDA CAROL WALKER
of CHRISTIE TERRACE, P.O. BOX N-7776, 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 11TH day of
September, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Nassau, Bahamas.



NOTICE
NOTICE is hereby given that TANESHA JONES of
LAUDERDALE LAKES, FLORIDA, UNITED STATES 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 11TH day of SEPTEMBER, 2007
to the Minister responsible for Nationality and Citizenshir
P.O.Box N- 7147, Nassau, Bahamas.


NOTICE
NOTICE is hereby given that LUCIEN FRANCOIS of
MACKEY STREET, NASSAU, BAHAMAS is applying to I
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 11TH day of SEPTEMBER, 2007 to the Minister
responsible for Nationality and Citizenship, P.O.Box N- 7147,
Nassau, Bahamas.


LEGAL NOTICE


NOTICE


JABOT INVESTMENT LIMITED
(In Voluntar) Liquidation)


Creditors having debts or claims against the above-named
Company are required to send particulars thereof to the
undersigned at Ocean Centre, Montagu Foreshore, East
Bay Street, P.O. Box N-3247, Nassau, Bahamas as sole
Liquidator on or before the 24th day of September, 2007.
In default thereof they will be excluded from the benefit
of any distribution made by the Liquidator.

Dated the 7th day of September 2007.

LYNDEN MAYCOCK
Liquidator


~____


0


- BUSINESS


PAGE 6B, TUESDAY, SEPTEMBER 11, 2007


It








THE TRIBUNE


SJLoUA i, oLI-- i illMbH 11,2007, PAGE 7B


Stocks close mixed as investors digest Fed




speeches ahead of next week's rate decision


* By MADLEN READ
AP Business Writer

NEW YORK (AP) Wall
Street finished a volatile ses-
sion mixed Monday as
investors grappled with the
possibility that the Federal
Reserve might not lower inter-
est rates as much as they hope.
The stock market ratcheted
up and down throughout the
day, with Wall Street still ner-
vous after Friday's dismal
employment report. The data,
which showed the first month-
ly decline in jobs in four years,
rekindled fears about housing
and credit market weakness
bleeding into the overall econ-
omy and squeezing consumer
spending.
Speeches from Fed officials
Monday seemed to give
investors a bit more reason to
be optimistic about the econo-
my, but the officials avoided
hinting at how the central bank
might alter rates.
San Francisco Fed President
Janet Yellen said that while
market turmoil has the poten-
tial to hurt the economy, rate
policy should not be used to


shield investors from losses.
Dallas Fed President Richard
Fisher said the economy
appears to be "weathering the
storm," and Atlanta Fed Pres-
ident Dennis Lockhart said
investors should consider Fri-
day's unemployment report in
the context of a mostly strong
batch of retail sales reports.
For many investors, a rate
cut after more than a year of
the Fed standing pat on rates is
practically a given. The debate,
as they see it, is whether the
Fed on September 18 will
reduce rates by a quarter per-
centage point or a half per-
centage point to loosen up the
tight credit markets and
also, if the central bank will
continue to reduce rates as the
year goes on.
There could be a major sell-
off if the Fed doesn't reduce
rates next week, said Scott Full-
man, director of investment
strategy for I A Englander &
Co. And until then, movements
will likely to be choppy, and
exaggerated by low. trading vol-
umes. "It's very volatile here,
but we're not seeing a tremen-
dous amount of volume. Peo-


pie are on the sidelines. 1 think
people want to be convinced
of what's happening before
they get back in."
The Dow Jones industrial
average rose 14.47, or 0.11 per
cent, to 13,127.85, after falling
250 points on Friday and
switching directions several
times throughout the session
Monday.
Broader stock indexes fell.
The Standard & Poor's 500
index slipped 1.85, or 0.13 per
cent, to 1,451.70, and the Nas-
daq composite index declined
6.59, or 0.26 per cent, to
2,559.11.
Bond prices rose as stocks
slipped, pushing the yield on
the benchmark 10-year Trea-
sury note down to 4.27 per cent
from 4.37 per cent late Friday.
Stocks experienced a short
relief rally in afternoon trad-
ing after Gen. David Petraeus
said. to Congress that he rec-
ommended to President Bush
that the drawdown of US
forces from Iraq start this
month, said Alfred Goldman,
chief market strategist at A G
Edwards & Sons Inc. But the
gains were quickly lost.


Fresh economic data was
sparse Monday. The one
notable report came from the
Federal Reserve, which said
consumer credit rose. at an
annual rate of 3.7 per cent in
July, down from a 5.9 per cent
growth rate for consumer debt
in June.
The Russell 2000 index of
smaller companies fell 5.98, or
0.77 per cent, to 769.81.
Declining issues outnum-
bered advancers by about five
to three on the New York
Stock Exchange, where con-
solidated volume came to 2.85
billion shares, down from 3.19
billion on Friday.
On Friday, the Labor
Department's jobs report fur-
ther depressed a market
already uneasy about a lack-.
luster housing market, tighten-
ing availability of credit and a
rise in mortgage defaults.
Because of Friday's retrench-
ment, the three major indexes
all lost more than one percent
for the week.
While some investors had
hoped for weak data to help
the Fed justify cutting interest
rates when it meets next week,


the market was shocked by a
loss in jobs when a gain had
been expected. With consumer
spending accounting for about
two-thirds of economic activity,
Wall Street is concerned about
any loss in employment that
would make consumers hesi-
tant to spend,.
On Monday, the market
absorbed more news of fallout
from mortgage failures. Coun-
trywide Financial Corp. said
after the closing bell Friday it
would cut as many as 12,000
jobs.- up to 20 percent of it
work force as the mortgage
lender tries to ride out
upheaval in the mortgage
industry. The company expects
new mortgages to fall 25 per
cent next year.
Countrywide fell $1, or 5.5
percent, to $17.21.
Not all financial stocks were
weak, though British bil-
lionaire Joseph Lewis, a mag-
nate who controls more than
170 companies, acquired a sev-
en percent stake in investment
bank Bear Stearns Cos. Bear
Stearns rose $2.13, or 2 per
cent; to $107.50.
Some technology stocks were


also strong. Advanced Micro
Devices Inc. rose 33 cents, or
2.6 per cent, to $12.94 after
releasing its newest micro-
processor, and Apple Inc. rose
$4.94, or 3.8 per cent, to
$136.71 after selling its one mil-
lionth iPhone on Sunday.
Intel Corp. initially rose after
boosting its third-quarter sales
outlook, but finished down 12
cents at $25.35.
Light, sweet crude futures
for October delivery rose 79
cents to $77.49 a barrel on the
New York Mercantile
Exchange.
The dollar slipped against
most other major currencies,
while gold prices, which have
risen sharply in recent weeks
amid concerns about the
strength of the US dollar,
extended their gains. A rate cut
by the Fed could hurt dollar-
denominated assets, prompt-
ing some investors to shift into
gold.
Overseas, Japan's Nikkei
stock average fell 2.22 per cent.
Britain's FTSE 100 fell 0.92 per
cent, Germany's DAX index
fell 0.82 per cent, and France's
CAC-40 fell 0.80 per cent.


ABACOMATS

Chairman's Report Q2, 2007

It is with great pleasure that we report to you our results for Q2, 2007, as the success of the group's
core market strategy leads to positive results.

As you will note from the accompanying financial, we have recorded another quarter of profits -
reflecting significant improvements in key areas of our operations including an increase in net profits,
sales and gross margin dollar increases along with continued expense management. In addition to the
increase in sales and continued expense management, the significant increase in gross margin dollars
is attributed to a combination of much improved buying practices and a reduction in the group's
inventory shrinkage. It reflects the focus on our buying, a related increase in higher-margin general
merchandise and clothing sales and the resolution of some buying challenges that negatively
impacted margins the.prior year. In addition, the policies and procedures introduced over the past 18
months to minimize our inventory loss and damage, are delivering improved results.

As a result, the sustained progress reflects the success of our core market strategy and, having
completed its "shrinking to grow" stage characterized by the divestment process, we have moved on
to the next phase: that of rebuilding our Company's platform for growth. The key now is a continued
focus on improving the customers' experience from improved product availability, selection and
quality to improved service thereby increasing sales and net margin dollars. We are tackling this with
more aggressive and strategic buying and better management of die related logistics of distribution
and improved efficiencies throughout all areas of.our operations. To support this strategy, we have
invested $1.5m, financed through operational cash flow, to increase the group's inventory levels
during the quarter to provide greater variety and consistency. These measures to enhance our
customers' experience, along with the renovations of Cost Right Abaco into a full club store and a
new Domino's location in southwestern Nassau, are all extremely positive moves to build a solid
platform for growth for our group in a strategic manner that supports our core businesses. With
minimal capital expenditures planned for the remainder of the year, the group is also focusing on
eliminating its overdraft.position, making quarterly payments on preference share debt instead of
annual ones and developing liquidity for the Company.

We are confident that the measures we have taken are setting the appropriate stage to rebuild Abaco
Markets for consistent returns on shareholder value and a positive experience that our customers can
count on. In preparation for this, we are looking ahead to Christmas, 2007. While Q3 is traditionally
the weakest quarter for our group, we are actively preparing our stores to ensure a successful
Christmas season. It is an exciting and long anticipated new stage for Abaco Markets where we
have moved from crisis management to rebuilding for the future. Of course, we remain focused on
our operations and maintaining this consistent progress as it is this progress and the steadily
improving results, delivered by a committed team, that are positioning our Company to emerge
stronger and more profitable for the benefit of our shareholders, employees and customers.


R. Craig Symonette
August 31, 2007


ABACO MARKETS LIMITED
CONSOLIDATED BALANCE SHEET

(Expressed in Bahamian $000) (unaudited)
July 31, January 31,
2007 2007


Assets $ 26,323 29,232

Liabilities (17,441) (21.626)


Shareholders' equity $ 8,882 7,606



CONSOLIDATED STATEMENT OF OPERATIONS

(B$000) (unaudited)
3 months ended 3 months ended
July 31, 2007 July 31,2006

Sales $ 21,944 19,445
Cost of sales (15,246) (14;200)
Gross profit 6,698 5,245
Selling, general and administration expenses (5,990) (5,661)
Other income 93 65
Net operating profit/(loss) 801 (351)

Pre-opening costs (note 4) (41)
Interest expense (42) (116)
Dividends on preference shares (208).. (200)
Net profit/(loss) from continuing operations 510 (667)

Net profit/(loss) from discontinued operations (306)

Net profit/(loss) for the period $ 510 (973)


Income/(loss) per share


$0.032


($0.061)


(B$000) (unaudited)


6 months ended
July 31, 2007

$ 42,536
/t'O- / \'707-


Sales
1,-.* I-


6 months ended
July 31, 2006


38,670
/01- -.-I


cost of sales (29,707 (27,602)
-Gross profit 12,829 11,068
Selling, general and administration expenses (11.666) (11,119)
Other income 199 140
Net operating profit 1,362 89

Gain on disposal of investment (note 3) 150

Pre-opening costs (note 4) (106)
Interest expense (123) (299)
Dividends on preference shares (419) (401)
Net profit/(loss) from continuing operations .864 (611)

Net profit/(loss) from discontinued operations 23 (705)
Gain on disposal of subsidiary (note 1) 'i '

Restructuring charge 350 (1.500)
Net profit/(loss) for thie period $ 1,276 (2,816)

Income/(loss) per share $0.080 ($0.177)




CONSOLIDATED STATEMENT OF CASH FLOWS

(B$000) (unaudited)
6 months ended 6 months ended
July 31, 2007 July 31, 2006

Cash flows from operations

Net profit/(loss) for period $ 1,276 (2.816)

Net cash (used in)/provided by operating activities (500) 475

Net cash provided by investing activities 4,161 702

Net cash used in financing activities (4,043) (2,819)

Decrease in cash $ (382) (1,642)


EXPLANATORY NOTES TO CONSOLIDATED INTERIM FINANCIAL
STATEMENTS
Six months ended July 31, 2007


I DISCONTINUED OPERATIONS

On April 30, 2007, the Company completed the sale of Cost Right Turks and its
associated property for $2,700,000 plus $211,000 representing the value of net current
assets. $2.5m of the proceeds were received on closing and $200,000 will be payable
over 3 years. This note earns interest of 8.5% per annum.

2. PREFERENCE SHARES

On June 30, 2007, the Company made redemption of $268,000 of the Class A preference
shares. This.represents a partial payment on the redemption due on December 31, 2007.

On June 30, 2007, the Company informed the holders of the Class A preference shares
that a further redemption of $535,000 will be made on September 30, 2007.


3. SALE OF INVESTMENT

On March 31, 2007, the Company completed the sale of its investment in BSL Holdings
Limited for $2,650,000. $2,500,000 of the proceeds were used to repay the bank debt
taken up to finance the investment.


4. PRE-OPENING COSTS

Pre-opening costs represent costs incurred in the relocation of Cost Right Freeport from
its former location on Milton Street to The Mall, which were not capital in nature.

(Copies of a fill set of the unaudited financial statements can be obtained from Tiffany
Bowe, at Abaco Markets Corporate Offices at Town Centre Mall, Blue Hill Road. Nassau,
The Bahamas, tel. 1 242 325 21 22.


_













'There is no such thing as low cost housing'


* By NEIL HARTNELL
Tribune Business Editor
THE notion that there is
"low-cost housing' in the
Bahamas is a myth, the


Bahamas urged to 'think out of the box' on home affordability, with more vertical buildings likely


Bahamian Contractors Asso-
ciation (BCA) president told


The Tribune, because all
homes constructed in this


95I


91


rI9
, '


1' ~' ~

~jI


nation need high quality,
expensive materials and labour
to enable them to withstand
hurricane-force winds.
Stephen Wrinkle, head of
Wrinkle Development, said: "I
don't think we have such a
thing as low-cost housing. We
have to build our homes to
withstand 150 mile per hour
winds, and you can't do that
using shoddy workmanship
and shoddy materials. You're
not going to build the low-cost
type of housing in the
Bahamas."
To achieve the home con-
struction costs some were argu-
ing for, and ultimately the price
at which properties were sold,
Mr Wrinkle said contractors
would end up "cutting comers"
if they were "squeezed so
much on price".
Often, if contractors saw
their prices knocked down,
they would either end up cut-
ting back on materials or
labour, the end result, the
BCA president said, being
"poor workmanship and poor,
housing".



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Mr Wrinkle said that con-
struction material prices were
currently stable, not showing
any signs of increasing or
decreasing, something borne
Qut by a recent Department of
Statistics report, which found
that the Construction Building
Materials Price Index for New
Providence fell by 2.02 per cent
between the 2006 fourth quar-
ter and 2007 first quarter.
Plumbing installation costs
fell by 9.56 per cent; electrical
installation prices were down
5.34 per cent; roof, ceiling, cab-
inet and wood frames, down
4.87 per cent; and floors and
walls, down by 1.76 per cent.
However, between the two
quarters, windows and doors
prices rose by 8.53 per cent,
while paints costs increased by
1.19 per cent.
Mr Wrinkle, though, pointed
out that in recent years the
prices for hard products, such
as steel and concrete, had risen
sharply, while construction
materials prices were also
impacted by import costs.
These were chiefly freight
costs, but also included insur-
ance.
"It does affect the bottom
line significantly," the BCA
president explained.
Given the relatively high
housing costs in the Bahamas,
coupled with increased
demand for real estate from
an ever-expanding population
and an ever-shrinking supply
of land, Mr Wrinkle suggest-
ed it was time for Bahamians
to "think out of the box" on
the issue.
"What we're going to see in
the Bahamas soon is vertical
construction. Not everyone will
have a house on a lot," Mr
Wrinkle said, adding that con-
dominium complexes were
likely to become an increasing
sight.
To illustrate the spiraling
house prices, the BCA presi-
dent took as one example the
Rolling Hills gated community
on Carmichael Road, a devel-


"Ti ely. Staying abreast of what is happening
in the local economy is easy: we simply read
T-he Tribune. The BusineIS Section oftThe
Tribune offers colnprehelnsive and insightful
article- about the busine', connmminity.
The Tribune is our newspaper."

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APPROVED LENDING SERVICES


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Eu iii _ii... II ~-s U-


It l /1 I Wl/


opment he had worked on.
The homes were initially
priced between $200,000 to
$250,000, but before the pro-
ject was finished some home
buyers had relisted their prop-
erty on the market for around
$385,000.
"The cost of buying a house
is high, so we have to look at
alternative hospitality require-
ments, look out of the box,
look at alternative options,"
Mr Wrinkle said.
To help resolve labour sup-
ply problems in the Bahamian
construction industry, he
added that the BCA had
become "directly involved in
the day-to-day administration
of the courses offered at" the
Bahamas Technical and Voca-
tional Institute (BTVI).
Dennis Attfield, the BCA's
executive director, has become
department head for the BTVI
construction programme.
"We clearly have a lot of
work to do on the education
front moving forward," Mr
Wrinkle said. "It's cheaper to
hire a Bahamian to do entry
level work than bring ion a for-
eigner.
"We do have serious prob-
lems with labour productivity,
and have to import labour at
all levels, but there'sno rea-
son why we cannot get our
share. If we don't do it now
with this tremendous surge of
construction coming, we're
never going to do it."
Mr Wrinkle said the BCA
ultimately hoped to develop a
"feeder system", with poten-
tial construction industry work-
ers going from high school to
BTVI and, at the management
level, to the College of the
Bahamas.
He added that the current
BTVI curriculum, if courses
were fully subscribed, had the
potential to provide enough
entry-grade workers for the
top 10 categories in the indus-
try, such as masons, carpen-
ters, plumbers, electricians and
tile layers.


THE TRIBUNE


PAGE 8B, TUESDAY, SEPTEMBER 11, 2007


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