The Tribune.
Full Citation
Permanent Link: http://ufdc.ufl.edu/UF00084249/03030
 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: 11/6/2007
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
System ID: UF00084249:03030

Full Text





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plosive session in House

Claim that government

'suspended liberties

of the opposition'

Chief Reporter
AN EXPLOSIVE but brief
session of the House of Assembly
ended yesterday with opposition
members claiming that Prime
Minister Hubert Ingraham and
his colleagues have "suspended
the liberties ot ih. opposition aid-
ed and abetted by the Speaker of
the House Alvin Smith".
The riotous session, which at
its peak involved a six-minute
period when opposition members
pounded on the table while the
government passed its amend-
ments to the Juries Act, arose out
of a refusal by the Speaker to
allow Opposition Leader Perry
Christie a chance to respond to
what he felt were "unparliamen-
tary" words used against him and

his former government during
Prime Minister Ingraham's
speech in the House two weeks
During that speech, Mr Ingra-
ham told the former prime min-
ister that he was a "failure" and
described the members of the for-
mer government as "wutless".
However, Mr Smith said that
while he-did hear Mr Ingraham
refer to the member for Farm
Road and Centreville as
"Christie", no other comment by
the prime minister breached the
Mr Christie said that the
Speaker himself, in pointing this
out, drew the House's attention to
a fundamental breach because the
rules are very clear that members
are not to be referred to by name.
SEE page nine

Christie: PM statements

may have put lives at risk
Tribune Staff Reporter

Tribune Staff
THE behaviour of the
Opposition in the House of
Assembly yesterday morn-
ing was obstructionist and
indicative of the fact that
the PLP has not conceded
to their defeat in the 2007
general elections, the'prime
minister said yesterday.
;Prime Minister Hubert
Ingraham also promised to
rhhke a "marked improve-
mrhent" in the country's legal
system which he charged
had been "criminally"
neglected by the previous
administration over the last
five years.
These remarks were
made during an impromptu
press conference held in the
prime minister's office at
Cable Beach yesterday
afternoon after a vehement
exchange in the House
between the government
and members of the oppo-
This argument stemmed
from a prior House debate
on October 22 over the
FNM's proposed amend-
ment to the Juries Act,
when Mr Ingraham told
SEE page 10


Official Opposition to move a

resolution of no confidence

in Speaker of the House

Tribune Staff Reporter
FOR the first time in recent
history, the official opposition
will move a resolution of no con-
fidence in the Speaker of the
House of Assembly after yester-
day's tumultuous sitting.
Immediately following the out-
bursts exchanged between the

government and the opposition,
the PLP called a press confer-
ence in the minority room of the
House .of Assembly.
Here Opposition leader Perry
Christie charged that House
Speaker Alvin Smith had lost all
credibility and even the "pre-
tense of ohj,.i ii
"The Speaker has collapsed,!
SEE page 10

Attorneys point
to possible
in election
court testimony
Byron Woodside yesterday
concluded their cross-exami-
nation of the private investi-
gator hired by former
Pinewood MP Allyson-May-
nard Gibson, pointing to more
possible contradictions in his
testimony and faults in how
he conducted his investigation.
During cross-examination
lawyer Michael Barnett drew
attention to the fact that on
some occasions Mr Munroe
had not made satisfactory
attempts to inquire about the
whereabouts of some voters
and on numerous occasions
did not visit the addresses list-
ed on the counterfoil. Before
ending his cross-examination
yesterday, Mr Barnett also
suggested that Mr Munroe did
not have a license to operate
SEE page nine

PM: no decision
yet on possible
assistance for
storm victims
Tribune Staff Reporter
ALTHOUGH government has
made food and water donations
to family islanders in the wake of
Tropical Storm Noel, a decision
on possible financial assistance to
storm victims has not been
reached, the prime minister said
Speaking at a press conference,
attended by senior FNM minis-
ters held at his office at Cable
Beach yesterday afternoon to dis-
cuss a heated exchange in Mon-
day's session of the House of
Assembly, Prime Minister Hubert
Ingraham also gave the media a
briefing on the current state of
F.minl. Islands most affected by
While noting that there were
still some outstanding reports by
government assessors on the sit-
uation, the prime minister told
the media that he planned to pre-
SEE page 10


" ...., to the

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Cat Island's water supply 'could be'

contaminated for two more months

HOPE team determines that island will need more resources to deal with impact of storms

Tribune Staff Reporter
IN future Cat Island will need to
be better prepared and-have more
resources in place to deal with the
impact of emergencies such as tropical
storm Noel, an island team has deter-
This comes as the island's police
chief, Inspector Philip Rolle, claimed
that the hard-hit island's water supply
may be contaminated for another two
Over the weekend a team from dis-
aster-response organisation Humani-
tarian Operations (HOPE) were on
the island delivering donated supplies
of Nautilus water to residents.
Yesterday, Christine Carey, rela-
tionship manager at HOPE said that
prime minister Hubert Ingraham,
while on island at the same time, fur-
ther secured water from a private
water purifier in the area for resi-
"We will check in tomorrow and
see (if they need further assistance
from HOPE)," said Ms Carey.
Insp Rolle said he is confident that
locals will be provided for even if the
supply is contaminated for a another
two months.
"We are satisfied because folks are
already calling in and asking what we
need. With the help of local govern-


CAT ISLAND'S police chief, Inspector Philip Rolle (not shown), claims that the island's water supply may be contaminated for
two more months. Here,.Donna Onberg a winter resident of south Cat Island and a friend walk through flood waters on
November 2 after they assisted police during tropical storm Noel.

ment and private citizens we will be
okay," he said.
According to the officer, at a meet-
ing between local officials, including
the administrator and himself, it had
been determined that more prepara-

tion and more equipment will be
needed in future if Cat Island is to
be spared the same difficulties.
"The administrator is compiling his
report, he's sending it to Nassau with
some things we need to put in place,"

he said.
Insp Rolle said this included sev-
eral standby water pumps to be per-
manently located on the island.
Also on the list of required equip-
ment is a "high vehicle" that can pass

through flooded areas, and emergency
vehicles, including a fire truck and an
Problems were encountered dur-
ing the storm, said Insp Rolle, when a
person suffered a seizure in a flooded
area, eventually requiring authorities
to mobilise a local school bus to get to
the ailing man.
Low-lying areas along Dean's High-
way and Devil's Point are still impass-
able by vehicles, said the police offi-
Over the weekend, locals made sug-
gestions to the prime minister and
the minister of works when they
toured the area as to how the same
problems in particular with the
flooding of the water plant could
be avoided in the future, he said.
Some locals would like to see a
trench cut from around the water
plant out to the sea to mitigate flood-
The raising of a back road, so that
residents would have the option of
travelling by that route if the lower
roads were flooded, was also sug-
The services of a local resident with
an elevated truck have been secured
to ferry between 20 to 30 school chil-
dren from the flooded areas of Devil's
Point and McQueens to school today.
A message left seeking comment
from MP for the island, Phillip Davis,
was not returned yesterday.

"-. ...V ,' y ,t',s ihorr the colours
o v a?: dreanrs this Christras

20% off




One Bahamas organizers

to relaunch initiative on GB

island after five-year hiatusI

Tribune Freeport Reporter
five-year hiatus, organizers of
One Bahamas have announced
plans for the relaunch of the
initiative on Grand Bahama.
The announcement was
made at the Prime Minister's
Office in Freeport yesterday
by Churchill Tener-Knowles.
Terry Gape, and Cecil Thomp-
son, who serve as co-chairmen
of One Bahamas Committee.
Mr Knowles said this year's
One Bahamas celebrations will
be held in New Providence and
Grand Bahama as many of the
Family Islands were badly
affected by Tropical Storm


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The celebrations will be held
from November 29 to Decem-
ber 2 under the theme, One
God, One People, One
A flag raising ceremony will
be held at Independence Park,
and a t-shirt day is also
planned. A church
service will be held at Mt
Zion Baptist Church in Eight
Mile Rock on December 2.
Co-chairman Cecil Thomp-
son said he is very confident
that celebrations will unite
both Bahamians and non-
"It has been five years since
the last One Bahamas cele-
bration. The event has always
been successful over
the years and we expect that
it will be a success this year as
well," he said.
Rev Lindy Russell said that
One Bahamas is a very signifi-
cant event that seeks to bring
together all Bahamians no
matter their political persua-
"I think it is a wonderful

opportunity to have the One
Bahamas celebration
relaunched because it was
something that brought unity.
"And often particularly after
general elections most people
don't want to talk about unity
because while
some are celebrating others
are licking their wounds. But,
One Bahamas has been some-
thing that binds ustogether and
we are able to rally around
despite the situation whether it
is a storm or after the election.
To Mr Russell the flag is a
national symbol to which all
Bahamians can identify.
"People always rally around
the symbol of the flag and that
is what One Bahamas pro-
motes," he said.
The other committee mem-
bers of One Bahamas are Lady
Naomi Wallace-Whitfield,
Ministry of Educationofficial
Sandra Edgecombe, Police
Superintendent Kevin Mor-
timer and educator Kenneth
Romer, president of the prin-
cipals and vice-principals asso-



Local News........................P1,2,3,5,6,7.9,10
Editorial/Letters. ....................................... P4
Advts ............................................. P8,11,12
Business .................................... P1,2,3,4,5,6
C om ics..................................................... P7
A dvt ......................................................... P 8
Orphan Journey Home.............................P4



Local Sports.....................................P1,2,15,16
USA Today Sports ..........................P...3 14
W weather .............................................;..... P16


-**-- **-----****---

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. I


0 In brief



killed in traffic


Tribune Freeport
-. -ican subcontractor was killed
in a traffic accident on Grand
Bahama on Saturday, push-
ing the island's traffic fatali-
ty count to seven for the
- "." Aaron Mitchell, 23, of Fort
Lauderdale, Florida, died
instantly after the vehicle in
which he was a passenger
crashed into a tree on East
Sunrise Highway.
Mitchell, an employee of
Resolve Marine Group, was
in Grand Bahama along with
a fellow subcontractor Bri-
an Jarantow, 24, also of Fort
Lauderdale. The men were
working at the Grand
Bahama Shipyard.
Jarantow, who was seri-
ously injured, is at the Rand
Memorial Hospital.
According to Chief Supt
Basil Rahming, Jarantow
-'. was driving a rented silver
Toyota Corolla owned by
Millie's Car Rental.
-. He was travelling west
along East Sunrise Highway
when he lost control of the
vehicle in the area of the
Sunrise Medical Centre.
The vehicle skidded off the
road onto a grass median
and careened westward onto
the eastbound lanes of the
dual carriageway.
It then skidded back across
the grass median before
crashing into a large tree.
Mr Rahming said the vehi-
cle was extensively damaged
and Mitchell was killed
Jarantow was transported
by EMS personnel to the
trauma section at the Rand
Memorial Hospital.
Traffic Police are contin-
uing their investigation into
the accident.

BTC to sponsor

students from

Family Islands
THE Bahamas
Company has announced
that it will sponsor 12
Family Island students to
attend the Bahamas Tech-
nical and Vocational Insti-
tute's Nassau Campus.
"This sponsorship
allows many deserving stu-
dents the opportunity to
study and become profi-
cient in a wide array of
technical fields," said BTC
in a press release.
The company has
agreed to cover housing,
books, tools and gradua-
tion fees for the students.
All students who receive
BTC financial assistance,
must maintain an appro-
.-. private academic standard
'." as prescribed by BTVI,
attend all classes and par-
ticipate in campus activi-
ties, the company said.
The programmes avail-
able at BTVI include: con-
struction, mechanics and
electronics, as well as oth-
er services trades such as
fashion, beauty, business
and souvenir manufactur-
Tommy Ferguson,
S- BTVI's financial aid
'-. department supervisor,
S said that, "BTVI is more
S than delighted that BTC
has come onboard with
their sponsorship pro-
.*.. gramme. It is this type of
corporate sponsor that
Makes it possible for many
. students to flourish in
their studies, become pro-
ductive citizens and even-
tually become future
Marion Johnson, BTC
vice president for market-
ing, sales and business
development, said, "This
is another example of
BTC's strong commitment
to the youth, and our con-
tinuing effort to give back
to the community.

"Amidst the negative
reports of youth in the
country, BTC is proud of
its civic contribution and is
happy that there are stu-
dents who have a keen
interest developing their
futures and BTC will sup-
port them."




THE US Coast Guard
came to the aid of the
Bahamas in the wake of
Tropical Storm Noel, con-
ducting last minute evacua-
tion exercises and organis-
ing a flight to the Family
Islands to assess the dam-
The flight, which took
place on Friday, was in aid
of the relief efforts being
conducted by governmen-
t's National Emergency
Management Agency
Carl Smith, Director of
NEMA and Kent Minnis,
photo-editor from Bahamas
Information Services, flew
in a US Coast Guard heli-
copter attached to Opera-
tion Bahamas Turks and
Caicos (OPBAT) for an
aerial assessment.
The Coast Guard said the
assessment will help the
Bahamas government to
identify requirements for
additional emergency assis-
tance to stricken areas.
In the course of the
flights over the islands of
Great Exuma, Long Island
and Eleuthera, Bahamian
officials on Long Island
requested flight support for
the medical evacuation of
a 50-year old man who suf-
fered from kidney failure,
and whose evacuation was
hampered by flooded
streets throughout Long
Recognising the urgency
of the case, the US Coast
Guard responded immedi-
ately as OPBAT diverted
an airborne AUTEC HH-
60 helicopter to Long
The helicopter safely
hoisted the patient onboard
and flew him to the Lynden
Pindling International Air-
port for transport to a local
As Tropical Storm Noel
moved toward Eleuthera
later on October 31, the
Bahamas Port Department
contacted the US Coast
Guard and requested assis-
tance to med-evac three
residents to New Provi-
dence who had sustained
serious injuries in a car
Due to the threat of the
storm, commercial aircraft
and the Royal Bahamas
Defence Force were unable
to offer assistance.
With just two hours of
preparations, the US Coast
Guard launched a Falcon
jet from Miami, Florida, to
transport the injured per-
sons from Eleuthera to
Nassau for treatment at
Doctor's Hospital.
The United States Coast
Guard (USCG) provided
extensive assistance
throughout the region fol-



A HH-60 HELICOPTER, similar to the one used in the medical
evacuation in Long Island on November 2.

lowing Tropical Storm
In the Dominican Repub-
lic, where Tropical Storm
Noel took the lives of more
than 80 people, USCG air
crews saved 54 lives and
distributed more than
30,000 rations of food,
more than 75,000 rations of,


M-PF 7A RP -SA,8:0 6P
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water, 30 boxes of blankets
and 5,000 personal hygiene
items to storm victims.
The US Coast Guard has
been providing humanitar-
ian relief and search and
rescue assistance in the
Dominican Republic at the
request of the country's

coulk ing guns
Painting Tool
II I .I,,), ....


Clarence Town Airport as



in a selection
from our
Fabulous Designer
Evening Wear...
AM e9i"wm4

on Saturday
Oth November, 2007
tish Colonial Hilton

C- Q ^
A* ..

Established in 1956 by an old Bahamian family
Parliament Street (near Bay St.) Tel: 322-8393 or 328-7157
SFax: 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

Bahamas Hot Mix CO.,Ltd.
P.O. Box CB-10990
Fax (242) 377-2193
Nassau, Bahamas
Pavement Supervisor

Experienced in production & Laying of HMA to
International Standards.
Estimating, tendering and soliciting work for BHM
Managing projects form award to completion
Health, environment and safety management of projects
assigned to you.
Preparing and implementing method statements for the
Keeping accurate daily record sheets
Managing the workforce
Managing the equipment and ensuring proper maintenance
of equipment on the job sites
Efficient scheduling and cost management of work.
managing the materials, ensuring minimum wastage

Experience Project Supervisor Requirement

Specialized in highway Engineering, trained in health, safety
& site appreciation 15 years expereinced, must be
experienced in managing multi million dollar road project
Set up & control of traffic
Responsible for all aspects of running earthworks
Responsible for training & managing staff
Liaise with engineers
Responsible for all safety, health & environmental risk
associate with project
- Prepare weekly productivity and efficiency report
- Report to management on Project.

Fax resumes to: 242-377-6351

Nassau, Bahamas

'has started to disintegrate'

damage assessments -





By ALISON LOWE that throughout the islands flooding has
Tribune Staff Reporter caused "severe damage to roads and
alowe@tribunemedia.net minimal damage to buildings." Addi-
tionally, numerous docks suffered in
STANDING water on roads through- Long Island.
out the islands, and on the tarmac at The minister said that an estimate of
Clarence Town airport in Long Island the cost of repair works is not yet avail-
has led to significant damage that will able as full evaluations have to be com-
E* need substantial repairs, said Minister pleted. "(Works officials) are completing
of Works Earl Deveaux yesterday. a profile of each site that they visit, when
Teams from that ministry are current- we get that report we'll have a pretty
ly out assessing the impact from tropical clear idea."
storm Noel in north and south Eleuthera, Some funds had already been budget-
Andros, Long Island, Cat island and ed towards improvement of roads and
Exuma, and are scheduled to travel to docks in Long Island, noted Dr Deveaux,
Acklins and Crooked Island tomorrow, and therefore some jobs simply require a
said the minister, certain degree of '"reprioritising" in light
Initial assessments have revealed that of the storm.
the asphalt at Clarence Town airport Yesterday electrical inspectors from
presently shut down has "started to the Defence Force travelled to some
disintegrate" as a result of flooding and islands in conjunction with BEC to check
will require sealing and patching before electrical outlets in homes that suffered
it can become operational again, flooding and determine what remedial
Long Island suffered what MP for the action may need to be taken before
island Larry Cartwright described as the power can be restored. Electricians from
worst flooding in 60 years as a result of the ministry will be joining them today.
Noel, with some sites as much as 12 feet Dr Deveaux said it may be a few days
underwater. before the homes are ready to receive
* Deaix Based on an early verbal report from electrical power again.
the director of works, Dr Deveaux said He added that checks were still being

US Coast Guard supports

made to determine how many water
pumps may be needed in Long Island
and Cat Island to rid the areas of remain-
ing floodwater, in order that restoration
work can get underway.
Yesterday, local Long Island council
representative Wellington Taylor called
on the government to station a perma-
nent pumping system in north Long
Island which can be put to use by local
officials in the event of flooding.
He confirmed that flooding in the
northern part of the island is still serious,
to the extent that children from the area
have not been able to get to school and
vehicles are unable to travel past the
Simms settlement.
Mr Taylor called on the government to
install a drainage system in the area -
something that Dr Deveaux said was
being looked into.
The local council representative said
that islanders whose homes suffered bad-
ly in the storm from flooding would ben-
efit from additional supplies of
water, snacks and other items such as
blankets. '
"Some of the people who are fortu-
nate can make it, the ones who got dam-
aged could do with help," he said.

I *A S I 6-

The Tribune Limited
Being Bound to Swear to The Dogmas of No Master
LEON E. H-. DUPUCH, Publisher/Editor 1903-1914
(Hon.) LL.D., D.Litt.
Publisher/Editor 1919-1972
Contributing Editor 1972-1991
Publisher/Editor 1972-
Published Daily Monday to Saturday

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

Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager (242) 502-2352
Circulation Department (242) 302-2387
Nassau Fax: (242) 328-2398
Freeport, Grand Bahama: 1-(242)-352-6608
Freeport fatx: (242) 352-9348

Hope and progress in South Africa

* AS RED SOX Nation celebrated in
Boston, Archbishop Desmond Tutu, the
Nobel Peace Prize laureate, said it was huge
for his entire nation of South Africa to cele-
brate its recent Rugby World Cup title in
France. The sport was so synonymous with
Afrikaner culture in the old South Africa
that its 1980s ban from international com-
petition is said to have helped cripple
In a 1986 speech marking the 10-year
anniversary of the bloody put-down of the
Soweto uprising, Tutu said, "I hope that
you, my fellow white South Africans, don't
think that things are normal... and that you
can afford to play tennis and rugby as hap-
pened in the first state of emergency, while
the country burns and bleeds to death."
Twenty-one years later, Tutu laughed
about rugby in a meeting with the Globe's
editorial board last week. When the Spring-
boks defeated England, the players carried
President Thabo Mbeki of South Africa on
their shoulders, with Mbeki holding the tro-
phy aloft. The nation's Cabinet held a meet-
ing with ministers decked out in Springbok
green and gold.
"Very, very surprising. We still keep being
surprised at rugby," he said. "You're having
your parade now ... They started their parade
on Tuesday, they started in Pretoria. Went to
Soweto. Then went to Madiba (former pres-
ident Nelson Mandela). And then to Dur-
ban, Port Elizabeth, I think yesterday was
Cape Town. And I've seen some of the pic-
tures. It's in a way mind-boggling to see
youngish black women ululating (howling)
the Springboks.
"It's a team that had only two blacks play.
If you wanted to be nasty, you could've said,
'Well, it is thoroughly untransformed.' But
people didn't take that as an issue. It's just
that we've got this victory and they've had
huge crowds turn out. The Cabinet I gather,
in their first weekly meeting after the victo-
ry, most of them were ... out in Springbok
colours. Which is very surprising.... We are
a crazy country in many, many ways. But
probably ... deep down people are saying,
'For goodness sakes, can't we get on with it?
... We are actually South Africans.'"
Tutu said this as he summed up where
South Africa is today. It is more hopeful

than the often negative headlines. He said
the enduring story is a stability that so far has
withstood highly publicized crime in pover-
ty-stricken areas and Mbeki's botched
response to its AIDS crisis. Tutu said the
country's economic growth rate since 1994
"may not have been earth shattering but it is
still a positive growth." He cited the nation's
"vigorously independent media." He said
his "chest swelled" with pride at South Africa
being in the forefront of African peace ini-
tiatives, including Darfur, after decades of
being "the world's pariah."
Tutu did not shy away from the negatives
that threaten all that. He said the nation
"did badly" on AIDS, but believes it now is
"moving in the right direction." He said
poverty is so serious that "my own fear is that
we are sitting on a powder keg. I still am
quite surprised at the level of patience of
people. People have not on the whole gone
out on the street. They have the guns to do
that.... But it's still amazing that people can
go work in an affluent, largely white sub-
urb with all the facilities that people are
used to in a developed country and at the
end of that day are prepared to return to
their squalor."
Tutu said it could be easy for cynics to
say, '"Nelson Mandela, Tutu talk about rec-
- onciliation. To hell with all of that.' They
should say, 'We're living in shacks. We live in
shacks. How long are we going to live in
True to Tutu's patented messages of hope,
he shifted back to the positives. He talked
about living in a formerly pro-apartheid
enclave where one could have predicted
white hostility a decade ago. "It's something
that shakes you to think that now we are
living normally. People live where they can
afford to live. And just down the street from
us is a high school that used to be all white.
"Now you stop and when the kids are on
the playground and you stop and you look
and ... this can't be true because you're see-
ing the demography of South Africa reflect-
ed there. And so far as I have been able to
make out, the sky has remained firmly in
(This article was written by Derrick Z.
Jackson of the Boston Globe c. 2007).

Ensure Domestic

Investment Board

is established

EDITOR, The Tribune.
IT WAS very interesting,
but not surprising, to hear,
the announcement by Prime
Minister Ingraham in the
House of Assembly with
regards to the non-existence
of the Domestic Investment
Board (DIB). In November
2005 I was given the oppor-
tunity to speak at the FNM's
convention and it was at that
time that I spoke to the
need for the establishment
of a DIB that would cater
to the needs of, small busi-
nesses and act as a liaison
between the entrepreneur
and the various government
agencies. Shortly thereafter,
in its 2006 speech from the
throne, the PLP government-
announced that as a part of
its agenda it would establish
a Domestic Investment
Board (DIB) that would,
"cut the red tape for
Bahamian investors." On
hearing this announcement I
felt, as many others did, that
small businesses would final-
ly receive the attention
needed for their survival
and that they would no
longer be frustrated in their
efforts by the various gov-
ernment agencies.
From the date of the
announcement to February
2007, I tried unsuccessfully
to obtain any information
from the Ministry of Finan-
cial Services and Invest-
ments with regards to the
mandate, functions and
composition of the DIB. On
each occasion that I visited
the Ministry I met with
junior and senior officers
and was told that it was
unclear as to how the Board
would function and that
they were still in the process
of working on the legisla-
tion that would govern the
Board. I was also told that if
I had a project in mind that
I should just follow the nor-
mal procedures or just for-
ward it to the Ministry. Giv-
en the fact that the Minis-
ter had already made vari-
ous pronouncements with
regards to applications sub-
mitted to the Board, this
seemed very strange to me
and defeated the purpose of
the DIB.
One would have thought
that if the PLP government
was serious about the plight


of small businesses, and if
the DIB was truly to be a
one stop shop for entrepre-
neurs not only would it have
been properly constituted
but also its Board would
have consisted of represen-
tatives from BAIC, The
Development Bank and the
Venture Capital Fund in
order to ensure a smooth
process for the Bahamian
Investor. However, as a
result of the recent revela-
tions made by the Prime
Minister it is now apparent
that the DIB existed in the-

ory only and may have been
prematurely announced, in
the absence of legislation, in
an effort to pacify the cries
of entrepreneurs.
One can only hope that
the present government will
do all in its power to ensure
that a Domestic Investment
Board is properly estab-
lished and equipped with
the powers and the mandate
to ensure that Bahamian
businesses are not only
properly planned but that
they are also properly fund-
ed from conception to reali-
October, 2007.

Treasury should

take a look at


EDITOR, The Tribune.
THE Treasury pays all 40-MPs a monthly allowance of $1,500
if they have an open Constituency Office. As I drive around I see
constituency offices, however, they remain decked with party
slogans and are not compliant with the law which would legal-
ly allow the Treasury to pay monthly the $1,500 constituency
allowances, but I suspect they still get paid.
I give certainly kudos to Minister Turnquest as bold as bully
his office signs says that, it is the Mt Moriah constituency office.
Hoping the Treasurer will take the time immediately and
drive around the constituencies in Nassau and see foirhiniself
and naturally discontinue the payment of the' constituency
allowance where the MP is not complying with the law.
This is totally supported by many constituencies such as
Pinewood and Fox Hill to name two who advertise party, FNM
or PLP constituency meetings!
Certain MPs have web sites however it is blatantly obvious
that they are up for show and nothing else.....once a week check
your darn e-mails !
Customer parking outside of Ministry offices -- this is an
enormous gripe for many as it seems the Civil Servants want to
park their vehicles in the lobby-reception areas of the Min-
istry buildings and to allocate customer parking as far away
from the entrance of the building. Public Works Ministry please
remedy this immediately.
Didn't Mr Ingraham on the campaign trail say ALL voice mail
services in Ministries and Corporations would be disconnected?
For his attention none, sir, have been disconnected not a sin-
gle one!
October, 2007.
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::" 0 In brief

Get to know

the art of

THERE was a time when
knitting was associated only
with grandmas and maiden
aunts, but it's now consid-
ered a family pastime and, at
its best, an impressive art
S On Saturday (10am) at the
S' National Gallery of Art,
enthusiasts will be able to
study the work of global
artists like Faith Ringgold
and Erman Gonzalez, and
appreciate that knitting can
be both utilitarian and artis-
A workshop for families -
all over-tens are welcome -
will be run by Corinne Foster
over two weekends to help
"teach a new generation the
possibilities of this process."


to give talk
ney Jeanne Thompson is
to give a talk tonight at the
National Art Gallery in the
"Bahamian .. Literary
Ms Thompson, a former
Supreme Courti judge, has
written several plays, and
co-authored the radio soap
opera "The Fergusons of
.Farm Road."
The talk begins at 7pm.

Man dies

while fishing
A NASSAU man in his
fifties died while fishing
off the dock in Port Nel-
son, Rum Cay, it was
revealed last week.
Peter Major, 54, was on
the island to paint and
decorate the home of his
mother, 75-year-old
Petruna Major.
After church on Sun-
day, he had a meal and
went fishing with a line.
Later, he was found float-
ing in the sea near the
. A resident told The Tri-
* bune: "He was due to
leave Rum Cay on Mon-
day. But it's thought he
had a heart attack while
fishing and fell into the
Doctors from the Mon-
tana Holdings develop-
ment project tended Mr
Major but he could not be
Peter Major and his
* brother Paul were regular
visitors to Rum Cay to see
their mother.


wood-turner to

show his work
Bahamian wood-turner
Roddie Pinder will be
showing his work at Nas-
sau Yacht Club, East Bay
Street, tonight (5.30pm to

lo6 Psl t otrl 1
I Te clE 'mi:


Dr Nottage: Bill to amend the

Juries Act could hinder courts

Tribune Staff Reporter
LEADER of Opposition
Business Dr BJ Nottage
said that the Bill to Amend
the Juries Act, which was
passed in the House of
Assembly yesterday, could
in fact do more to hinder
the courts in the Bahamas
than speed trials and allevi-
ate case backlogs.
In an address at an
impromptu press conference
in the Minority Room of the
House of Assembly, Dr
Nottage said that the Bill

that was passed did not
have the required amount
of consultation needed to
create any sort of meaning-
ful impact on the backlog of
In fact, stakeholders with
whom the PLP met
informed them that the
amendment of changing the
number of jurors from 12 to
nine could worsen the "log-
jam" of untried cases as a
result of the potential
appeals "right up to the
Privy Council" that could
further clog the system.
"We are not aware
whether the government
itself carried out any con-
sultations with the general

"We support the request of
stakeholders for evidence that
these changes alone would be
beneficial; would not rob
accused persons of existing
rights and would not prejudice
the fairness of jury trials."

Dr Bernard Nottage

public, individuals or groups
in the intervening period.
Certainly, all groups told us

that they have not been
contacted by any govern-
ment representative either
before or since the debate
was suspended (on the Bill).
"We support the request
of stakeholders for evidence
that these changes alone
would be beneficial; would
not rob accused persons of
existing rights and would
not prejudice the fairness of
jury trials. We would also
like the assurance that pas-
sage would not result in
appeals based on the con-
stitutional grounds," he
Dr Nottage added that
the PLP is now calling on
government for more time
to be given for public edu-
cation, consultation, and
evaluation and suggest that
this could be achieved by
leaving the Bill in the Com-
mittee stage and undertak-
ing a wide consultation.
"Alternatively, a better
solution, would be the
appointment of a Select
Committee of the House of
Assembly to carry out a
national consultation and to
report back to Parliament
in an agreed time period.

"We would suggest too
that the government take
the time to consider the
inclusion among its amend-
ments of other suggestions
from the Chief Justice, the
Bar Council, the Opposition
and other stakeholders," he
Among those consulted
by the Opposition were the
civil society, Bahamas
Christian Council, the
Bahamas Chamber of Com-
merce, the National Con-
gress of Trade Unions, The
Chief Justice of the
Bahamas, The President of
the Bar Association, Expe-
rienced Jurors, Court Staff,
and practising members of
the Bar in Jamaica and Bar-
bados, including serving
Members of Parliament.

Tribune Freeport Reporter
FREEPORT A 19-year-old male resi-
dent of Freeport appeared in Magistrates
Court yesterday in connection with an ille-
gal drugs charge.
JamonPherez Tynes appeared before
Magistrate Helen Jones and was charged
with possession of a quantity of Indian
It is alleged that on November 4, while
at Freeport, Grand Bahama, the accused
was found in possession of three small
plastic bags containing dangerous drugs.
Tynes pleaded not guilty to the charges
*and the matter was adjourned to January


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Whn t om s toquait WeDo't .oma.e .. .. -
S -*aS


30, 2008. He was denied bail and remand-
ed to Her Majesty's Prison.
In other court matters, three young men
were arraigned in Magistrates Court in
connection with the theft of a large quan-
tity of copper wire at West End.
Everette Wilson, 21, Henry Saunders Jr,
21, and Kareem Hamilton, 22, all residents
of West End, appeared in the Eight Mile
Rock Magistrates Court yesterday before
Magistrate Debbie Ferguson.
The men were charged with causing
damage to a telegraph and stealing.
Wilson, Saunders and Hamilton all
pleaded not guilty to the charges. They
were granted bail in the sum of
$3,000 with one surety and the matter
was adjourned to March 19, 2008 for trial.

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Teen in court

on drug charge


rfth iiBm

Ria sae






Caribbean academic giant

to deliver annual Anatol

Rodgers Memorial Lecture

2008 KALIK



THE Burns House Group
has announced the launch of
the 2008 Kalik Calendar.
"Our approach and inten-
tion was to capture and pre-
sent to the Bahamian public
a Kalik Calendar that truly
reflects and embodies beau-
ty, passion, sophistication
and sensuality," said the
company in a statement.
"We are going to reward
our regular Kalik drinkers
with an in-store promotion
scheduled to kick off Novem-
ber 12. With every purchase
of Kalik, you get a Kalik Cal-
endar free."
The company said it trusts
the public will enjoy the 2008
calendar, which features sev-
eral "Bahamian beauties".

Grant attends mega boat show

LECTURE SERIES: Pictured are (I to r) are Maries Sairsingh-Mills, assistant professor school of English Stud-
ies; Dr Marjorie Brooks-Jones, assistant professor and chairperson School of English Studies; Ivy Higgins,
lecturer, school of English Studies.

THE College of the Bahamas
has announced that a giant in
regional literary scholarship will
deliver this year's Anatol
Rodgers Memorial Lecture.
The annual lecture will be
given by Dr Carolyn Cooper
from Jamaica, who is the direc-
tor of the institute of Caribbean
Studies at the University of the
West Indies, Mona Campus.
Chairperson of the School of
English Studies at COB, Dr
Marjorie Brooks-Jones,
announced the forthcoming
event, which will be held on
Thursday November 8 at 7pm
at Choices Restaurant in the
Bahamas Tourism Training
The topic for Dr Cooper's
,lecture is: "'No matter where
. u'.icome fromii: pan-Afficadhiti
consciousness in Caribbean

Focus on


popular culture" a subject
close to Dr Cooper's heart.
She has spent much of her
academic career extolling the
value in popular culture, in par-
ticular reggae and dancehall.
Indeed, last weekend she was
invited to speak at Yale Uni-
versity on dancehall as part of
Yale's celebration of the Abo-
lition of the Transatlantic Slave
[Inaufguraed"i' 2uu6. the Ana-
tol Rodger s Nlemonril Lecture
-9 es_ is destgd to give the

Bahamian community the
opportunity to hear from inter-
nationally-recognised writers.
researchers and literary critics.
The inaugural speaker was
renowned poet, novelist and
playwright Fred D'Aguiar from
The lecture series is named
in honour of Anatol Rodgers
who was the third Bahamian
and the first female head/prin-
cipal of Government High
School (1971 1975).
Mrs Rodgers was a first-rate
educator, who demanded excel-
lence from those under her
charge, as many of her former
pupils would affirm.
Although she taught a diver-
sity of subjects during her pro-
fessional life, Mrs Rodgers's
first love was English.

MINISTER of Tourism and
Aviation, Neko Grant made an
appearance at the 48th Annual
Fort Lauderdale International
Boat Show over the weekend.
This event serves as one of the
premier stages for showcasing
the world's best in superyachts,
yachts, boats and marine acces-
More than 130,000 people
and 350 exhibitors, including
the Bahamas, participated in
this year's event.
With several mega marinas
set to open in the Bahamas over
the next few ears, the annual
Fort Lauderdale International
Boat Show provided an excel-
lent venue for showcasing the
destination to super rich buy-
ers and spectators attending the

event. Pictured here, Minister
of Tourism and Aviation Neko
Grant, BMOT staff and indus-

try partners at the Bahamas
Booth. Bahamas Tourist Office
/ Plantation, Florida.

MEMBERS of Tqastmasters International paid a courtesy call on Governor Gen-
eral Arthur Hanna at Government House on October 30. From left are Paula
Johnson, president Bahamas Correctional Toastmasters; George Taylor, division
governor Toastmasters Bahamas Division I; the governor general; Tammara
Johnson, secretary Toastmasters and Monique Cox, public relations 21st Centu-
ry Communications Toastmasters.

Roddie's Woodcturning show

kas been


The Nassau Yacht Club

East Bay Street

Tuesday, 9November 6th, 2007

5:30 p.m. to 9:30 p.m.

Tel., & Fax: P.t,0 'Box EL

242-394-6058 -27424
roddie@caralwave.com Spanish 'Wells, Bahamas






0 In brief

flood victims
scramble for
food, supplies

HUNGRY and dehydrated
victims of one of the worst
floods in Mexico's history
scrambled for government pack-
ages of food and medicine,
while at least 20,000 people
remained trapped Monday on
* .-. the rooftops of homes swal-
lowed by water, according to
S Associated Press.
Residents were running dan-
gerously short of food and water
after nearly a week of floods
left 80 percent of the Gulf Coast
state of Tabasco under water
and destroyed or damaged the
homes of about half a million
people. Gov. Andres Granier
ordered central streets in the
state capital of Villahermosa
closed to all but rescue work-.
ers to prevent looting.
Authorities said two more
bodies were found Sunday in
the brackish waters covering
much of the region. If the deaths
are confirmed to have been
caused by the flooding, the dis-
S aster's death toll would stand at
1 0 Government officials worked
furiously to distribute aid, and
authorities continued trolling
the water-filled streets looking
for stranded residents.
Villahermosa, the state capi-
tal, was still completely under
water, though river levels had
begun to drop after rising to his-
toric levels. The National Water
Commission said it had begun
efforts to start pumping the
Desperation grew among res-
idents who could not get their
hands on government-supplied
food and water or who found
themselves cut off from crucial
medical supplies. Garbage piled
up in the murky waters days
after the city suspended most
public services including trash
As helicopters carrying aid
made stops in hard-hit areas,
disputes broke out among vic-
tims who pushed through
crowds and struggled frantically
for the packages.


Deaths from non-communicable

diseases on the rise in Bahamas

remarks at the opening
t ,, ', '-- -- "-" '

remarks at the opening

THE number of deaths from
chronic non-communicable
diseases continue to grow in
the Bahamas, it was revealed
Mortality data on CNCDs,
such as diabetes and hyper-
tension, show that in 2005,
these diseases accounted for
nearly 65 per cent of all deaths
in the country, Minister of
Health and Social Develop-
ment Dr Hubert Minnis said.
Dr Minnis said that 45 per
cent of deaths in 2001 were
CNCD related, a figure which
grew to 57.4 in 2003.
"The burden of these dis-
eases, if only measured in
mortality, is great and even
greater when hospitalisation
and drug costs are factored in
along with disability and mior-
tality due to these diseases,"
he said.
Dr Minnis was speaking at
the opening of a planning
exercise held by officials of the
Pan American Health Organ-
isation, ministerial delegates
and experts in public health
from the Caribbean and the
The meeting was convened
in Nassau to discuss ways to
address the troubling trends
and estimates of the present
and future effects of chronic
diseases in the region.
The officials will also be tak-
ing stock of the progress of
prevention efforts over the last
10 years.
The plan to intensify action
by raising awareness about the
human and economic burden
of chronic diseases as well as
the cost effect
Dr Minnis noted that
CNCDs are not only a prob-
lem for the Bahamas and the
region, but is actually a global
"We are all challenged with
the increasing morbidity and
mortality due to all these dis-

Health Organisation has given
this matter much needed
attention and has proposed
the integrated chronic diseases
prevention and control pro-
Dr Minnis explained that
this programme embodies the
principles of health promotion
and integrating primary, sec-
ondary and tertiary preven-
tion across all sectors and dis-
ciplines. It also aims to reduc-
ing premature mortality and
morbidity due to CNCDs.
"If each country in the
region of the Americas adopts
this integrated chronic disease
prevention strategy and gives
attention to diet, physical
activity and healthy lifestyle
behaviours, we will be moving
in the right direction toward
combating the epidemic of
CNCDs in the region," he

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acceDptOn avard from Senior Partner, McKinney, Bancroft & Hughes
Governor General H.E Arthur D. Hanna with Hon. Zhivargo Lasng, MInistef of State for Flnanci:
& Wendy Warren, BFSB CEO & ED.ecutive Director



Chairman T.B. Donaldson accepting on behalf of the Bank
with Hon. Zhi'vargo Laing. Minister of State 'tr Finan.ce
& Wendy Warren, BFSB CEO & Erecutive Director
Pr ,,, ii ,


nt Manager, Account Investigations & Fraud, RBC
Hon. Zhivargo Laing, Minister of State for Finance
Wendy Warren, BFSB CEO & Executive Director

Manager Senior Trust Service Officer, Cit'tiust
with Hon 7hivarpr I aing, 'TAnisler rjf b te t..r HI- anci
& Wendy W.'rre-i, BFSB CE: & .&Ie( utl...- ifr, *,r

with Renee Barrow, SG Hambros Bank & Trust
ILU--ponI.Sr of Student Award, with Pearl Investment
r gl:.I'iLrent), Hon. Zhivargo Laing, Minister of State for Finance
& Wendy Warren, BFSB CEO & Executive Director

The Board of Directors and Members of BFSB join in paying tribute to these outstanding industry
professionals, and to The College Of The Bahamas graduate recognized for stellar performance.

/ 1 .- .-' '
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. . ., .. :"

The Excellence Awards Programme is designed to recognize achievers in the Bahamian financial services industry for outstanding
performance and contribution to the growth and development of the sector.






_ ______


_ __~_I_

,, I

322 1722

eases," he said. "The good
news however, is that we can
all do something, in our ifidi-
vidual countries. as well as col-
lectively, to change the face of
the epidemic.
"We know much about pre-
vention and control of the con-
tributing lifestyle behaviours
and the many social and envi-
ronmental determinants.
"Target interventions such
as the Healthy Lifestyle Ini-
tiative, that focus on lifestyle
behaviour modification, can
reduce many of the common
risk factors for the key chron-
ic diseases.
,"When we design interven-
tions," Dr Minnis said, '"we
must use approaches which cut
across all levels: the family,
individual, community and
must involve legislation and
public policy."
He added that the World

: r1g"etio


NOVEMBER 6, 2007

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

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E WFOR f) (CC) help his deceased daughter's child- form emergency battlefield surgery Rum and finds evidence against the
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Claim that government

'suspended liberties

of the opposition'

FROM page one

"That itself grounds my effort
to stand here and make my
point. But it goes further than
that, Mr Speaker, and I want you
to be very careful because I don't
know if you read and interpret
things in the way we do," Mr
Christie said.
He pointed out that, prior to
the microphones in the House
of Assembly being changed, the
-. public would have been able fo
hear both the prime minister and
himself when they were speaking
and what was said.
"As it turns out this matter has
been reported as some kind of
exchange between myself and
the member but with respect to
the broadcast of what was said
(considering the fact that the
public, unlike the press would
not be in the House to see or
hear the exchange) it infringes
even those rules. Mr Speaker, I
think you ought to allow me to
continue with this," Mr Christie
At this point Prime Minister
Ingraham rose to his feet and
said that the government wished
to accommodate Mr Christie in
making his case.
"The rules say that he should
(have made his case) immedi-
ately, he did not choose to do
that the last time we were here,
-,- but that does not preclude him
from doing so today. All we say
is let us conclude the speech
From the member from
Carmichael (Desmond Bannis-
ter) and after that let us accom-
modate the member in terms of
whatever he wishes to put to the
Speaker. That's only a matter of
minutes, that's not a day, that is
this morning," he said.
Following the prime minister
taking his seat, Bain and Grants
Town MP Dr Bernard Nottage
stood in an attempt to lend his
voice to the opposition's argu-
However, the Speaker indi-
cated that he was only willing to
hear from Mr Christie at that
time but repeated his assertion
that the only statement which he
heard the prime minister make
during his contribution that
could be considered unparlia-
mentary was his referring to the
opposition leader as "Christie".
"There is nothing else unpar-
liamentary with what the mem-
ber said," Mr Smith said.
Mr Christie indicated, howev-
er, that he would like to proceed
on the basis that he has been in
the House of Assembly for 30
consecutive years and the lan-
guage he regards as offensive is
ruled "out of order" by the rules
of the House.
"You must allow me to exer-
cise my discretion to be able to
address this matter," Mr Christie
The Speaker then invited Mr
Christie to take his seat and said
that he was not aware of what.
the PLP wanted the speaker or
member to do but he would
allow the MP for Carmichael to
continue with his presentation.
Mr Smith's ruling was met by
derision from opposition mem-
bers and Mr Christie stood again
to plead his case.
"This is sad, Mr Speaker. The
rules provide that (a person may
respond) at the first practical
- opportunity. When I rose to my
feet to respond the honourable
member (for North Abaco) you
said I got up without asking for a
point of order but I got up to
defend this side from what the
honourable member (for North
S".'." Abaco) was saying about this
"-"- "Mr Speaker, the danger of
your own interpretation must
mean that 'wutless' to describe
(members of parliament is par-
liamentary ). If you accept that,
then when you make 'wutless'
decisions I must say, 'what a wut-
less decision,' because it has been
made parliamentary by Mr
Speaker himself. How can I pos-
sibly accept that word and then
S. in parliamentary parlance say,
S-. 'The speaker is wutless'. That is
*- "what you are saying is accept-
S able," Mr Christie said.
Mr Smith, disagreed, asserting
that if a member refers to a gov-
ernment or a former government
'' as "wutless" it is not unparlia-
mentary and can only be consid-
S ered as such if the word is used
to describe an individual.
It was at this point that the
Speaker called on the MP for
Carmichael to wrap up his con-
tribution. When Mr Bannister
stood, opposition members
pounded on the desk to prevent
the member from being heard.
While Mr Bannister was
unable to complete his contribu-
tion, the government continued
with parliamentary procedure
and moved to have the bill

The speaker moved to have
the Bill to Amend the Juries Act
read for the second time and
committed amid the persistent
hammering of the opposition
members which continued even
through the leader of govern-
ment business, Mount Moriah
MP Tommy Turnquest, calling

for the House to resolve itself
into the committee of the whole.
After the bill was agreed, with
no amendments made, Mr Turn-
quest called for a third reading. It
was not until this point that the
opposition discontinued their
pounding, six minutes after they
Mr Christie stood again and
attempted to take the opportu-
nity to make a statement.
"I would wish to take this
opportunity to speak on this
amendment before the House
with a view to ensuring that any
misunderstandings and miscon-
ceptions are properly addressed.
The context in which I speak is
with this bill under debate in
mind, where members of the
House of Assembly stood to
their feet and spoke to the need
of responsible behaviour on the
part of all of us, spoke about the
challenges the young have in this
country of being able to control
themselves and sometimes lan-
guage constitutes violence.
"It is important that people
understand that when people lis-
ten to those of us who sit in this
House of Assembly it cannot be
assumed that everyone has the
discipline that those of us sit in
here have. That everyone who
watches us are able to discipline
ourselves in the way members of
parliament, who have become
used to the cut and thrust of
debate, are able to do," the
opposition leader said.
It was at this point that Mr
Christie was stopped short and
Mr Turnquest rose and request-
ed that the "question be put".
Mr Christie attempted to con-
tinue but was unsuccessful and
the Speaker continued with the
third reading and passage of the
The ,opposition leader stood
once more after the bill was
passed and said that when the
prime minister had told the
House that Mr Christie had
failed and his punishment of
being voted out of office was
"minor" and that Mr Christie
should receive more "major"
punishment, the opposition
leader said that "the House must
recognize that this was a veiled
"What kind of major punish-
ment could he be talking about?"
Mr Christie asked.
The speaker ignored Mr
Christie and the shouts fiom the
opposition side to continue with
House procedure. When there
was a call for notices for future
meetings a heated MP for
Englerston, Glenys Hanna Mar-
tin, stood and requested that the
speaker put his ruling that "wut-
less" was not unparliamentary in
writing so that the decision can
be used as a precedent in the
Dr Nottage stood following
Mrs Hanna-Martin and said that
the prime minister and hiscol-
leagues- have suspended the lib-
erties of the opposition aided
and abetted by the Speaker.
"It is a sad day in parliament
when the Speaker does not per-
mit members to speak in rela-
tion to the rules of the House,"
he said.
Dr Nottage was ignored and
the House was adjourned to
November 12 at 10 am..

Attorneys point to more

possible contradictions in

election court testimony

FROM page one

as a private investigator.
Mr Munroe had previ-
ously testified that he had
been told that Desmond
Williams --- one of the vot-
ers in question lives on
Jumbey Street. During
cross-examination yester-
day Mr Munroe said that
he went to the Jumbey
Street address at least
once, but no one was
there. Mr Barnett then
pointed out that the
address on the counter foil
stated 1088 Sugar Apple
Street. Mr Munroe told the
court that he did not visit
that address. This prompt-
ed Mr Barnett to ask Mr
Munroe whether he was
aware that in March of this
year, Mr Williams stated
that he was living at 1088
Sugar Apple Street. Mr
Munroe admitted that he
was not aware of that. He
told the court that he had
not gone to the Sugar
Apple Street address
because he had received
information that Mr
Williams lived on Jumbey
Street. Mr Munroe then
told the court that some-
one else on his team went
to that address but he did-
_ n.'t know who. After fur-
ther questioning by Mr
Barnett, Mr Munroe
admitted that no one told
him directly that he or she
went to the Sugar Apple
Street address.
Similarly Mr Munroe
was also questioned about

another voter -- Perline
Moss who lived in Kens-
ington Gardens as he was
told. Mr Munroe yesterday
told the court that he had
visited the address several
times, but never saw her.
When asked by Mr Barnett
whether he went to the
address listed on the coun-
terfoil. Mr Munroe replied,
"No." Mr Barnett then
asked whether he was
aware that in April of this
year the voter in question
stated that she lived in
Pinewpod Gardens. Mr
Munroe replied that he
was not sure. Mr Barnett
went on to point to other
instances where Mr
Munroe failed to visit the
areas listed on the coun-
terfoil or failed to give a
reasonable effort to con-
tact the voters themselves.
Before the luncheon
adjournment Mr Barnett
gave Mr Munroe a list of
the voters that he claimed
he never saw or spoke to
and a list of persons he
said he spoke to while
someone was in their pres-
ence. After the luncheon
adjournment Mr Munroe
said that the list of persons
who he claimed he never
spoke to was inaccurate as
he had spoken to Stacia
Thompson and Adrian
Scott, but the list of per-
sons he spoke to while
someone was there was
When asked by Mr Bar-
nett whether he had a
license under the Inquiry
Agents and Security

..-- ?q. .* .

Guards Act, Mr Munroe
explained that he had been
granted a license in 2002.
Mr Barnett then suggest-
ed that the license he
received in 2002 was a
temporary license for only
three months and had long
since expired. Mr Munroe
accepted that the license
had expired.
During re-examination
by Philip Davis, Mr
Munroe said that he is

employed by Galanis Secu-
rity and Investigations
which is a licensed agency.
During re-examination Mr
Munroe also stated that he
had made an application
this year to have his license
renewed. Mr Munroe said
that he was told by persons
in the Ministry of National
Security that it was wait-
ing on the minister's sig-
nature and he could go
ahead with his work.

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FROM page one
the St Albans Drive area on
Thursday, was arraigned
before Chief Magistrate Roger
Gomez in Court Eight, Bank
Lane yesterday.
Kendra Robinson, 24, of
Gerald Bartlett Subdivision,
was also arraigned in Magis-
trate's Court yesterday,
charged with harbouring a
According to court dockets,
Taylor on Thursday, October
11, being concerned with
another while armed with a
handgun, robbed Lorraine
Francis of $22,892, the proper-
ty of Holiday Industrial. It is
also alleged that on the same
day, Taylor, being concerned
with another, by means of
unlawful harm intentionally
and unlawfully attempted to
cause the death of Lorraine
Francis. Francis was shot in her
face while in the parking lot of
the Royal Bank of Canada on
John F Kennedy Drive on
October 11. According to
reports, Francis, who is
employed at Holiday Indus-
trial Builders International, had
made a substantial cash with-
drawal from a company
account to meet payroll later
that day. Taylor was not
required to plead to the armed
robbery and attempted mur-
der charges. Taylor is repre-
S sented by lawyer Tamara Tay-
Kendra Robinson, who also
appeared before Chief Magis-
trate Roger Gomez, pleaded
not guilty to the charge of har-
bouring a criminal. According
to court dockets, sometime
between Thursday, October 11,
and Thursday, November 2,
she is accused of having rea-
son to believe that "Travado
Taylor had committed a crime,
did aid and conceal him for the
purpose of avoiding lawful
arrest." Robinson, who is rep-
resented by lawyer Michael
Kemp, was granted $3,000 bail
on the charge.
Taylor and Robinson have
also been charged with posses-
sion of two grams of marijuana.
According to court dockets the
two were found in possession
of the drugs on Thursday,
November 1. They both plead-
ed not guilty to the charge.
Robinson was granted $1,000
bail. All matters were
adjourned to November 22 for
a fixture date. Taylor was
remanded to Her Majesty's

tine Ministe hit

Prime Minister hits

out at Opposition

FROM page one

former prime minister Perry
Christie that he should be
ashamed of himself, called his
government "wutless", and said it
had left the judicial system in a
sorry state.
Flanked by his members of par-
liament yesterday afternoon, the
prime minister commented on the
riotous exchange that occurred
between the government and the
opposition yesterday morning in
the House after parliament
passed a majority vote to amend
the Juries Act.
"The opposition have sought
to make a mountain out of a
molehill over this issue. I don't

expect any different from them
because they don't accept the fact
that they have lost the election.
They find every manner of excuse
and they wish to be obstruction-
ist," the prime, minister said yes-
He explained that the number
of jurors needed to hear non-cap-
ital cases was not "fixed" or
"unchangeable" pointing out that
a number of countries have
amended the number of jurors
from 12 to nine.
Since 1964 Bahamian chief jus-
tices have recommended that the
number of jury members be
reduced, Mr Ingraham said,
adding that in 2006 the chief jus-
tice made a recommendation for
the number of jurors sitting on

non-capital cases be reduced to
The FNM also considered a
reduction of jurors in 1996 and
proposed to amend the Act then.
However, at that time this was
met with resistance from the
opposition and so the FNM gov-
ernment withdrew its proposal,
Mr Ingraham explained. In view
of the stark rise in the number of
persons awaiting trial on serious
offences, such as murder, rape,
and armed robbery since 2001,
the FNM resurrected the propos-
al in an effort to expedite the judi-
cial process.
"Our decision was influenced

by the fact that we think that the.
criminal justice system in the
Bahamas needs a number of
changes in order to make it effec-
tive. It is most embarrassing that
The Bahamas has more than 100
persons charged with serious
offences, such as murder, who
have not been tried by a court."
Mr Ingraham also reasoned
that if Mr Christie had been
offended by remarks made during
the October 22 session of the
House, he should have immedi-
ately challenged him or rose on a
point of order according to
House of Assembly rules. The
prime minister made a transcript

FROM page one

sent an official report later in the week.
"The government is going to assess the situation
and make determinations of the extent to which we
are going to provide assistance," he said.
He noted several initiatives government has in
place to help disaster victims, one being the Guar-
anteed Loan Fund by which the government can
provide a loan at low interest rates for persons
affected by a government declared disaster. There
was also the possibility of providing compensation to
persons who meet a "means test."
Mr Ingraham said at this point he could not give
a speculative dollar amount for financial assistance
for the storm victims, but he did not foresee any
need for the country to appeal to CARICOM for
He told the media that a number of Department
of Public Health workers and social service employ-
ees were "in the field" of the islands most damaged
by Noel. Additionally, increased government funds
had been released to the department of social ser-
vices so the department could make "timely deci-
sions" for family islanders in need.
During his briefing, Mr Ingraham stated that the
well fields in Cat Island were currently submerged in
water and subsequently the government was sup-
plying bottled water to those residents. Aside from
water damage to crops and a few homes, Mr Ingra-

FROM page one

At that time, Prime Minister
Ingraham said that Mr Christie
should be ashamed of himself for
allowing the judicial system to be
in the mess it is in today.
l-would say to. te-Bahafias I
Sam .a-failure, I h failed-bee-
, nd..y punish tiiofbeingvot-,
ed out of office is minor, I should
get more major punishment...,"
he said.
It is this -,a reference to addi-
tional punishment that Mr
Christie said was irresponsible for
someone in Mr Ingraham's posi-
tion to make.
"I wish for Mr Ingraham to
know that I consider this to be a
threatening remark. It appears to
me that it is at the very least irre-
sponsible for no less a person
than the member of parliament
for North Abaco who serves as
Prime Minister to say such a

of his and Mr Christie's remarks
in the House on October 22 avail-
able to the media to illustrate that
no steps in this regard was taken
by the leader of the opposition.
The prime minister revealed
that on October 24 two days
after the House exchange he
and Mr Christie had a private
meeting when they spent 45 min-
utes discussing a number of
issues, including the amendment
to the Juries Act.
At the time he did not get the
impression that the Opposition
leader was "personally offended"
by any remarks made in the

Storm victims
ham noted there was "no significant loss" in Cat
In Exuma, the prime minister noted that a number
of persons employed at the Four Seasons Resort
have difficulty getting to and from work and as a
result government has "engaged two school buses"
to transport them. The Queen's Highway in Exuma
is also flooded, blocking off access to the island's air-
The prime minister noted that there were two
devastated areas in Long Island where standing
flood waters are so extensive that only large vehicles
can manoeuvre the streets. A number of farms and
homes have been destroyed from heavy flooding
in that island as well, the prime minister said.
Subsequently, a defence force boat was dispatched
Monday afternoon from New Providence for Long
Island with a crew of 45 officers to assist with relief
efforts, Mr Ingraham said.
He also expressed confidence that the govern-
ment would emerge from the aftermath of Noel
positively, as the FNM had weathered a number of
hurricanes under their watch and had apt experience
in dealing with natural disasters of that nature.
"We have lots of experience in this area, we won't
have to reinvent the wheel," the prime minister

"The member for North Abaco
said this in the face of all we have
heard about the inability of young
people to hold their tempers and
to resolve disputes without regard
to violence be said.
:Mro Chritie added that it is:
known to.ihe'BMi.inian public
that his home was the subject of
two "incidents" connected with
violence since he left the office
of prime minister on May 2. One
incident involved his home being
shot at by assailants who have yet
to be arrested and brought before
the courts.
"It does not take a rocket sci-
entist to know that if the member
of North Abaco is making a
remark that is a veiled threat that
this may be encouragement to
some irresponsible person to
attack the members of this side

"That, too, is an irresponsible,
abusive, and offensive remark
and should be withdrawn or
Mr Christie said he felt that Mr
Ingraham knew he was crossing
the line in his remarks on October
22, and admitted that he did not
intend to abuse the former prime
minister in his address.
"But the fact is he was abu-
sive," he said.
Also, Mr Christie said, Mr
Ingraham did not use the Eng-
lish word "worthless", but rather
the Bahamianism "wutless" a
more derogatory term, clearly
used to offend him.
"He used the Bahamianism
'wutless', which is even more con-
temptuous. It is a pejorative, and
he cannot define his way out of
this clear offence. Quite apart
from it being untrue, it is clear
that these are personal attacks.
They are offensive and they
offend the rules."

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Opposition resolution

FROM page one

have never seen the capitulation from any Speaker of the kind of
capitulation I saw today to the will, whim and fancy of the government.
The Speaker lost all pretence of objectivity. He just totally succumbed,"
Mr Christie said.
Yesterday, the former prime minister attempted to address remarks
made by Mr Ingraham during a session two weeks earlier, when Mr
Ingraham said that Mr Christie should be ashamed for leaving the
judicial system "in the mess it is in today".
Mr Christie sought to have this and other statements made by Mr
Ingraham withdrawn. However, his attempts were ultimately thwarted
as the Speaker ruled that nothing unparliamentary was said by the
prime minister and House proceedings were suspended to November
12 despite PLP objection.
"It is a sad day in the history of this country when someone who sits
in a position to guarantee that democracy is played out in the House of
Assembly on an issue of this kind, he has defaulted so greatly and so
badly. It is a grievous error on his part.
"And I trust that we will be able to demonstrate that by moving the
necessary resolution. Clearly this means we have no confidence in the
Speaker by what has happened today. Clearly this can only be followed
by presenting to the House of Assembly a resolution of no confidence
in the Speaker," he said.
The riotous session involved almost a six-minute period when oppo-
sition members pounded their fists on the table while the government
passed its amendments to the Juries Act.
At the next sitting of the House, Mr Christie said, the PLP will
move their resolution of no confidence in the Speaker.
Also, Mr Christie added, Prime Minister Ingraham owes him, the
PLP, and the nation an apology for his outbursts in the House of
Assembly on October 22 for referring to him and the PLP as being
wutlass" and "slamelessi".
,:i Hc eis e.Sdcfd to meet again on November 12 at.Aart- "
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S,, 007, PAGE 11


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NOVEMBER 6, 2007


Tel: (242) 356-7764

Tel: (242) 351-3010

Tribune Business Editor
THE Government is "working fever-
ishly" to place the Bahamas in a position to
sign the Economic Partnership Agreement
(EPA) with the European Union (EU)
by the December 31. 2007, deadline, the
mmrnltc of s.Late- for tIince said serd ,'
as Teccnt negotiations have "made it more
possible" for this nation to join.
Zhivargo Laing, who will depart this
week for the Brussels ministerial meeting
at which trade ministers from the 77
African, Caribbean and Pacific (ACP)
group of countries will review the draft
EPA text, said that while he would take
no Bahamian offers on market access and
services, this nation would "fully partici-
pate" in the discussions.
Adding that the Government was
"hopeful" and that "certainly there's cAuse
for optimism" among Bahamian exporters

No offers ready for Brussels, but Bahamas to play full part and participate in talks

that their duty-free market access to the
EU will be preserved beyond year-end
2007, Mr Laing said before press time last
night that he was still assessing whether
financial services had been totally exclud-
d ftoirThieEPA g'ief trhcif fl'Tf- ""-'
He explained that he was receiving con-
flicting information on whether this was
the case. The exclusion of financial ser-
vices, Mr Laing said, would make it much
easier for the Bahamas to sign the EPA by
the December 31 deadline, and this nation
would not sign up to anything that was
not in its best economic interests.
Referring to the deadline, which is when
the EPA would replace the expiring one-
way preference regime enshrined by the
Cotonou Agreement, Mr Laing said:
"Recent events have certainly made it
more possible for us and other countries to

sign by that time than was previously the
"We are working feverishly with a view
to being in a position to sign if the con-
cltded agreement miccl with number
o"-Bl TfLLtL i,. -6h ond'ui p iiWt-'' .uiT moTrc
favourably disposed to signing than previ-
ously, given recent developments."
This would represent, in the world of
politics and governments, a fairly major
policy shift if the Bahamas does ultimate-
ly sign on by December 31, 2007, given
the Government's previous policy pro-
Mr Laing had previously said the Gov-
ernment's priorities were the World Trade
Organisation (WTO) accession and devel-

SEE page 6

I L IL e-I

Cost of living threat

on Florida tax break

Tribune Business Editor

-. 'possibility" that
- Bahamian con-
"- """ summers and com-
. '*panies may end
up .paying more for goods'
imported from Florida, thus
". further increasing the already-
high costs of living, if the state
removes the 6.5 per cent sales
tax exemption on products
shipped directly to this nation,
an attorney has warned. ,
Ryan Pinder, a tax specialist
who is an attorney and part-
ner in the Florida-based law
firm, Becker & Poliakoff, told
The Tribune that the constitu-
tionally-appointed Florida
Budget Reform Commission
had last month finished its
information gathering and
hearing submissions from var-
ious trade groups on numer-
ous proposals to amend the

* 'Good possibility' Bahamian firms and companies
may pay more for goods if Florida removes 6.5
per cent export sales tax exemption
* Attorney warns tax imposition could be

'very significant

state's tax system.
Among the proposals "defi-
nitely being considered", and
being placed for hearing before
the Commission, Mr Pinder
said, was a 'Sunsetting' or
removal of all sales tax exemp-
tions, including the 6.5 per cent
sales tax exemption on goods
shipped to the Bahamas and
the Caribbean.
He added that there were
more than 100 sales tax-related
exemptions on items such as
food, goods and some utilities
payments, and said: "The pro-

posal is to essentially sunset all
the sales tax exemptions, which
would include the export sales
tax exemptions. An evaluation
of the sales tax exemptions out
there is up for serious consid-
The proposals will now go
before the Florida Commission
for evaluation, and Mr Pinder
said it will then decide which to
support for inclusion on a bal-
lot that will go before the
state's electorate for approval
in November 2008.
Florida is the Bahamas'

major trading partner, with
most of the $1.5 billion goods
imported from the US annual-
ly coming from that state.
Given this, Mr Pinder sug-
gested that Bahamian compa-
nies importing large quantities
of goods from Florida needed
to keep an eye on what hap-
pened to the sales tax exemp-
tion, and he had offered his
services to both the Bahamas
Chamber of Commerce and

SEE page 4

'No blacklist

threat' facing

the Bahamas

Tribune Business Editor
THE Govern-
ment is not
aware of any
existing threat
to 'blacklist' the
financial ser-
vices industry
over concerns
relating to the
Securities Com-
mission's ability
to co-operate and exchange
information with overseas reg-
ulators, the minister of state for
finance told The Tribune yes-
Zhivargo Laing said the Secu-
rities Commission had agreed
an "interim procedure" with
IOSCO, the global body for
securities regulator, for sharing
information with its overseas
counterparts, and had until 2010
to sign on to that group's Mem-
orandum of Understanding
(MoU) on international co-
"There is no threat to our sec-
tor. There is no 'blacklisting'
threat we are aware of," Mr
Laing said.
"There is not known to this
country, the Bahamas, any
threats in relation to this matter
whatsoever. The Bahamas is
not aware, through any chan-
nels, of any threat from the
Financial Stability Forum (FSF)
or IOSCO "
He wa,, responding to com-
ments made by former attorney
general Alfred Sears, who said
senior US officials had warned
him the Bahamas would not be
considered 'fully compliant' on
the Securities Commission's
information sharing powers
until it signed the IOSCO MoU.
As a result, Mr Sears said the
US Securities & Exchange
Commission's (SEC) legal
director had warned him the
Bahamas could still be black-
listed by the Financial Action

* Minister says 'interim
procedure' for co-operation
and information sharing
agreed with IOSCO until
MoU signing decision
* Bahamas being reviewed,
but decision to sign on
dependent on MoU
complying with laws

Task Force (FATF) which suc-
cessfully forced the Bahamas to
enact 11 pieces of legislation
when it took similar action in
2000 if FATF members, espe-
cially the US government and
its Treasury Department, were
not satisfied with this nation's
Denying this yesterday, Mr
Laing said the Securities Com-
mission had been working with
IOSCO on co-operation with
the body and its members since
two issues were raised over its
information-sharing powers in
IOSCO had sent the Securi-
ties Commission and extensive
survey and questionnaire, and
ultimately the two parties had
"agreed a schedule and
timetable" for the body to do
its confidential review of the
Bahamian regulator, which has
oversight of the investment
funds and capital markets/secu-
rities industries.
The minister added that "in
the interim they agreed a pro-
cedure to co-operate with
IOSCO, within the context of
Bahamian law, that was satis-
factory to the IOSCO standing
committee, until the issue of
signing on to the Memorandum
of Understanding is resolved".
The Government, Mr Laing
said, wps now reviewing
whether the Securities Com-
mission should sign the IOSCO

SEE page 4

Tourism 'limited'

by low ad budget

Tribune Business
THE Ministry of Tourism's
ability to market the Bahamas
and maintain its tourism com-
petitiveness has been limited by
its $4.5 million advertising bud-
get for 2007, one of the lowest
ever, and a sum that pales in

Director-general says
$4.5m budget for 2007
pales against Cancun's
$10Qm, saying she
would settle for $15m

comparison to Cancun's $100

SEE page 6

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'Sub-prime' fallouelt ffar and wide

AT my church, there is one
parishioner in particular who
always engages me in conver-
sation about articles written in
this column. He is a retired
senior civil servant, who is an
avid reader with an insightful
perspective on current affairs.
It is not uncommon for him to
"I. It topics to me by saying:
"1 am looking forward to your
article on ..." or he would
often provide additional insight
on -oniciming that I have writ-
ten on previously.
Several Sunday's ago, dur-
ing our regular -dialogue, he
said to me: "I guess you will
tackle this problem the US is
having with all these mortgages
soon. We need you to explain
it for us." Events this week in
the US reminded me of my fel-
low parishioners request,
hence today's column.

What is sub-prime lending?
According to the online
encyclopedia Wikipedia: "Sub-
prime lending, also called B-
paper, near-prime, or second
chance lending, is the practice
of making loans to borrowers
who do not qualify f6r the best
market interest rates because
of their deficient credit history.
"Sub-prime lending is risky
for both lenders and borrowers
due to the combination of high
interest rates, poor credit his-
tory and adverse financial sit-
uations usually associated with
sub-prime applicants."
"Sub-prime lending encom-
passes a variety of credit instru-
ments, including sub-prime
mortgages, sub-prime car
loans, and sub-prime credit
cards, among others. The term
'sub-prime' refers to the cred-
it status of the borrower (being

less than ideal), not the interest
rate on the loan itself."
Sub-prime lending is the sub-
ject of much debate in financial
circles. Opponents have
alleged that the sub-prime
lending companies engage in
*'predatory lending' practices,
such as deliberately lending to
borrowers who could never
meet the terms of their loans,
thus leading to default, seizure
,of collateral and foreclosure.
In fact, recent information
confirms that many sub-prime
mortgages have gone into
default without the first sched-
uled payment having been
made. Proponents of sub-
prime lending maintain that
the practice extends credit to
people who would otherwise
not have access to the credit


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market. Some argue that
expensive credit is better than
no credit at all.
Vicious Cycle
Commercial banks went
heavily into sub-prime lending
because they could charge
more for these loans, and the
difference dropped straight to
the 'bottom line' as profits.
Higher profits translated
directly into higher bonuses
and the cycle of greed deep-
Further, many of these sub-
prime mortgages involved 100
per cent financing. The thought
being that if house prices were
rising at 10 per cent per year,
after a year a 100 per cent
financed mortgage would have
10 per cent equity. After three
years, the equity would be 30
per cent, and the mortgage
would look like a 'normally'
written mortgage.
Not to be outdone, the
investment banks (Wall Street
firms) got involved by taking
blocks of these risky loans and
'securitising' them. Securitisa-
tion is a financing technique
that involves the conversion of
usually illiquid assets with pre-
dictable cash flows into mar-
ketable securities. Some of the
assets that can be securitised
are loans such as car loans,
housing loans, credit card pay-
ments, car rentals or any other
form of future receivables.
Essentially, it is the process
of creating securities backed
by pools of assets, with the
securities then .sold to institu-
tional investors.
Investment banks took pools
of these loans and created a
complex array of securities
called 'Collateralised Debt
Obligations' (CDOs), which
they sold to institutional

bein th

investors. What was the incen-
tive for investment banks?
Well, they made handsome
fees for creating CDOs, they
earned additional fees for dis-
tributing these newly-created
securities, and finally they
made fees every time these
securities traded.
Commercial banks having
lent, say $100 million, in sub-
prime loans, were able to get
another $100 million to make
fresh loans through securitis-
ing (selling) the initial $100
Investors bought CDOs
because they offered a higher
interest rate than other bonds.
While government bonds
offered an interest rate of, say
4 per cent, these CDOs might
have offered an interest rate
of say 6 per cent to 7 per cent.
So, on the face of it, it
seemed that everybody was a
winner, almost too good to be
true and it was. House prices
softened, borrowers defaulted,
banks got into trouble, and
things began to fall apart. As
with any excess, there must be
a correction...a correction
which is painful. It is mind-bog-
gling how all those 'super-
smart' people simply chose to
underestimate (or even com-
pletely overlook) the risk
inherent in sub-prime lending.
Greed, unfortunately, is a com-
mon by-product of capitalism,
and unabated greed invariably
leads to bad judgement.
The fallout
On Friday past, the venera-
ble Merrill Lynch announced
the retirement (forcing out) of
Stanley O'Neil, its chairman
and chief executive, amid loss-
es emanating from sub-prime
lending. In the aftermath of an
unusual Sunday afternoon
board meeting, Citigroup
announced that its chairman

and chief executive, Charles
Prince, had resigned and that
the bank expects to book pre-
tax write-offs of between $8
billion and $11 billion related
to sub-prime mortgages. Given
the magnitude of these write-
offs, it is most unlikely that Mr
Prince left entirely on his own
At the time of writing this
column, Merrill Lynch's losses
are estimated to be close to $8
billion, while Citigroup's losses
are being speculated to be clos-
er to $10 billion. When you
consider that the combined
GDP of Jamaica, Trinidad,
Barbados and the Bahamas is
about $45 billion, $18 billion
combined for two investment
banks alone is significant.
When you add in the commer-
cial banks and the other invest-
ment banks, the cumulative
write-offs could easily exceed
the GDP of the 'big-four'
Caribbean economies.
It should also be noted that
virtually all the pending mega-
projects slated for the
Bahamas contain large resi-
dential or 'second home' com-
ponents. Further, these high-
end homes and condominiums
are being marketed to Ameri-
cans. While the target market
is not sub-prime borrowers,
any weakness in the overall US
economy would impact upon
the viability of such projects.
Until next week...
NB: Larry R. Gibson, a
Chartered Financial Analyst,
is vice-president pensions,
Colonial Pensions Services
(Bahamas), a wholly-owned
subsidiary of Colonial Group
International, which owns
Atlantic Medical Insurance
and is a major shareholder of
Security & General Insurance
Company in the Bahamas.
The views expressed are
those of the author and do not
necessarily represent those of
Colonial Group International
or -any of its subsidiary and/or
affiliated companies. Please
direct any questions or com-
ments to rlgibson@atlantic-

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Bahamian staff 'want

most and do



Tribune Business Editor

BAHAMIAN employees seeming-
*. ly "want the most and do the least",
the head of a computer and technol-
ogy retailer said, warning a Business
Survival Workshop that finding com-
petent staff was "really, really diffi-
Pastor Dave Burrows, president
and chief executive of Mega Byte
Computer, told the workshop organ-
ised by Mark Turnquest's Small Busi-
ness Resource Centre: "Finding good
. labour in the Bahamas is really, real-
ly difficult.
"Some of the craziest people I have
met my life are Bahamian people. It's
really amazing that we get anything
"People don't show up for the job,
don't call you and then want a pay
rise. Then, they go to the Labour
Board and want sick pay, vacation
"I look at some of the things unions
and employees look for in the
Bahamas, and employees in the
Bahamas sometimes want the most
and do the least."
Pastor Burrows, who said Mega

Byte Computers had been started
with an initial $1,500 capital invest-
ment, told the budding entrepreneurs
attending the seminar that providing
financial incentives for employees,
such as those tied to productivity and
performance, would aid their busi-
"I've learned that when employees
have an incentive that pays them, they
tend to work, even if for selfish pur-
poses," Pastor Burrows added.
"If you provide some system where
they can make money, it's very impor-
tant. It helps your business."
He urged Bahamian companies to
provide details in-store and on
receipts of warranties, goods return
policies and employee policies to
ensure they maintained good rela-
tions with customers.
"Here's what a lot of Bahamian
businesses don't do; a lot of these
Bahamian businesses end up in fights
with customers because they don't
have policies in place," Pastor Bur-
rows said.
He also urged Bahamian entrepre-
neurs to invest in installing software
and technology systems for account-
ing, sales and inventory management,
explaining that these were "essential

for businesses to flourish".
The cost of not installing such tech-
nology and systems at the initial start-
up stage, Pastor Burrows warned, was
"so great" and acted as a handicap
to the business's long-term success
because it would have no access to

up-to-date information on a daily
"When things are not in order, it's
so difficult to get them in order," he
explains. "When you have systems in
place, it really improves your man-
Fd'r retail businesses, point-of-sale
systems were required, Pastor Bur-
rows added, while entrepreneurs also
needed to ensure they had proper
ordering and shipping systems so they
knew how much stock to order, and
Acknowledging that Bahamian
entrepreneurs had difficulty in access-
ing financing for start-ups, especially
if they had no track record in busi-
ness, Pastor Burrows suggested that
they still maintain a cordial relation-
ship with commercial bank client
.With somewhere between 75-80 per
cent of businesses failing, "Bahamian
banks, especially, are not interested in
Pastor Burrows explained that
banks may have good reasons for not
lending to entrepreneurs, given their
aversion to risk and need to protect
the funds the lend, which are really
surplus funds from customer deposits.

"If a business is successful for five
to 10 years, and the bank is still treat-
ing it as [too great] a risk, that's where
I have a problem," he added.
An innovative way of financing for
entrepreneurs, Pastor Burrows sug-
gested, was to accumulate as many
credit cards as possible. Rather than
binge on credit, in much the same
way as companies obtained credit
from suppliers by paying debts within
30 days, if credit card debts were paid
in 30 days there were no interest pay-
ments due. And points could be
earned on the cards by doing this.
"Businesses don't fail because they
are bad ideas. The main reason they
fail are leadership and management,".
Pastor Burrows added.
He urged entrepreneurs to ensure
their businesses were covered by all
the necessary liability insurance for
the industry in which they operated.
Using the example of a food store,
and if an employee slipped and broke
their neck, he added: "If they turn
round and sue you, you could be
wiped out."
Pastor Burrows also urged: "What-
ever area you are in, learn all the laws
in that area and keep abreast of the


Tribune Business
ment of Tourism would great-
ly enhance development of the
Bahamas number one indus-
try, the director-general of
tourism saying yesterday that
such a private body would give
it greater authority to make
important decisions separate
from the political directorate.
Vernice Walkine said she
has long held the view that cre-
ating a Bahamas Tourism Cor-
S portion from the Department
of Tourism a unit within her
ministry would ensure there
was more autonomy, privati-
sation allowing it greater flex-
ibility to do things that would
cause the industry to grow.
She said that while the Min-
istry of Tourism was perceived
as being semi-autonomous, this
varied according to the issue,
because if an idea was consid-
-. ered to be controversial or
'- -'." risky, it might be denied by the
" --- Government.
For example, she said that
at the moment, Nassau lacked
mid-priced resort properties.
Kerzner International was
- going more exclusive, and

Baha Mar appears to follow
the trend.
"Despite our best efforts, the
Government decided to go
that way and we have to accept
that," Ms Walkine said.
She said that while there
were many incentives for hotel
development, there were none
in place which would encour-
age the development of attrac-
tions such as water theme
parks, which would give visi-
tors something to do while in

the Bahamas. This is some-
thing that is lacking, particu-
larly in Nassau/ Paradise
Ms Walkine added that
there were challenges in effec-
tively developing and promot-
ing the Bahamas, and said
there were several possibilities
for creating a private corpora-
As an example, she said that
at the moment the Govern-
ment collects a 6 per cent
resort levy per hotel room.
Something like this, Ms
Walkine suggested, could be
used to fund the Corporation,
or it could be partially funded
between the public sector and
the private sector, yet wholly-
run by the latter.
She suggested that perhaps
the Department of Tourism
could handle the promotional
aspects of tourism, while the
Corporation handled the
developmental aspects or some
other responsibility.
Ms Walkine said that this is
something that countries such
as Jamaica and Trinidad have
done, and it requires an exam-
ination of the possibilities.
Her comments came on the
opening day of the Bahamas
Institute of Chartered Accoun-
tants (BICA) week.




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are urged

to invest

in Haiti

Tribune Business
HAITI is a natural mat-
ket in which Bahamian
small and medium-sized
businesses can make mon-
ey, the country's former
ambassador to the island
yesterday advising Bahami-
ans to see the potential in
the impoverished country.
Dr Eugene Newry said
that rather than seeing Haiti
as an immigration problem,
Bahamians should see it as
an economic opportunity.
"A prosperous Haiti
would add to a prosperous
Bahamas," he said. "Smell
the rose of profit and get
away from the paranoia of
Dr Newry added that
Haiti abounds with natural
resources, which Haitians
simply do not have the
financial resources to culti-
For example, he said
some 56 per cent of Haiti's,
fruits and vegetables end up
rotting because there are
insufficient harvesting facil-
ities. Dr Newry said these
fruits cost just a few cents in
Haiti, whereas when
exported to the Bahamas
they are very expensive.
Similarly, lobsters are
very inexpensive in Haiti,
where there is not a closed
season for their harvesting.

"I checked with the Min-
istry of Agriculture and
there is no law to prevent
you from bringing in marine-
resources," Dr Newry said.
He added that were
countless opportunities in
other areas, such as refor-
esting the dwindling forests
for a furniture industry, and
providing small stoves to
Haitians so that they could
stop burning trees.
He said countries such as
the US, Canada and France
have invested heavily in
their embassies there, as
they realise the potential in
the island for tourism and
other financial industries.
"The Bahamas needs to
ensure that they are not left
behind," he said.
Additionally, Dr Newry
pointed out that there were
twice as many extremely
wealthy persons in Haiti as
there were in the Bahamas
- more than 600,000 per-
"They would love to
come here and gamble in
our casinos and stay in our
hotels, they buy things, but
they will not come here to
be insulted or looked down
on because they are
Haitians," Dr Newry said.
He added that Bahami-
ans need to accept that they
will have to join the CSME,
as the country needs the
collective block power that
such organizations provide.
Instead of disdaining the
southern Caribbean, he said
that Bahamians should look
at becoming investors there.

Economic growth

revised to


three per cent

Tribune Business
THE Bahamian economy is
expected to achieve real
growth of about 3 per cent for
2007, the Central Bank of the
Bahamas governor said yes-
terday, a major downward
revision of about 1 per cent on
previous forecasts. She added,
though, that there would like-
- ly be further growth in 2008,
supported by the strong invest-
ment inflows linked to the
tourism sector.
Wendy Craigg, speaking on
the issue of exchange controls
at a conference hosted by the
Bahamas Institute of Char-
tered Accountants (BICA),
said that while the economic
outlook remained positive,
future capital account liberali-
sation initiatives would remain
sensitive both to the capacity
of the economy to absorb them
and to the policies articulated
by the Government.
To date, she said persons
have taken advantage of

exchange control relaxations,
including the Investment Cur-
rency Market, an arrangement
which has existed since the ear-
ly 1970s and which allows res-
idents to purchase foreign
exchange for making overseas
investments in real estate and
There is also the special cri-
terion investment facility,
which accommodates outward
investments, at the official rate,

for transactions determined as
having a direct and positive
impact on the balance of pay-
ments through investment
income flows.
"Since the 2002 liberalisa-
tion round, residents have been
permitted to purchase up to $1
million per person or entity for
direct not portfolio -invest-
ments, both in the Bahamas'
offshore sector as well as
abroad, subject to an overall
limit of $5 million per transac-
tion, and this facility may be
accessed once every three
years," Mrs Craigg said.
"According to our data,
almost $10 million has been
provided through this facility
since 2002."
Mfs Craigg added that the
National Insurance Board cur-
rently has foreign investments
of nearly $20 million.
She further explained that
starting from the Governmen-
t's desire to maintain a fixed
exchange rate, further liberal-
isation of the capital account
requires the continuation of
sound and consistent domes-
tic policies that would support

public confidence and trust in
the economy.
"Therefore, a key policy
focus must be on maintaining
financial stability, as the open-
ing up of the capital account
could expose the country to
risks associated with volatile
capital flows, often due to con-
tagion or some external shock
- and not necessarily domesti-
cally induced," Mrs Craigg

"Capital account liberalisa-
tion normally results in domes-
tic banks being faced with
increased competition and the
risk of strong capital flows, and
hence measures must be in
place to ensure that they are
able to function in such an
Further, these capital inflows
can complicate domestic mon-
etary policy and would require
more emphasis on market-ori-
ented instruments (open mar-
ket operations) to better man-
age liquidity and ensure sta-

'No blacklist threat' facing Bahamas

FROM page 1

MoU "as we speak", its main
concern being that whatever
was signed conformed with
existing and future Bahamian
law, including a reformed Secu-
rities Industry Act 1999.
"The last thing we would
want to do is sign anything that
we are hampered by law from
enforcing or complying with,"
Mr Laing said.
"We have to review the
Memorandum of Understand-
ing with respect to the existing
laws, so we don't sign something
[incompatible] with the laws of
the country.
'The Securities Commission
is satisfied we are moving quite
properly, and assures us there is
nothing they are aware of that
we should be concerned about.
They are in communication
with IOSCO on a regular
The Memorandum of Under-
standing has to be signed by
2010, giving the Bahamas plen-
ty of time to decide.
Mr Laing added: "From the
Securities Commission's advice

to us, every requirement that
Standing Committee Four of
IOSCO had for them to do,
they have complied with, inclu-
sive of any reporting require-
Two reports per year on the
Securities Commission's
progress are required by
IOSCO, Mr Laing said, adding
that he was surprised Mr Sears
would go public on what was
supposed to be a confidential
review when, as a former attor-
ney general in the Christie
administration, he would have
had full knowledge of the
details and what was taking
He described Mr Sears' com-
ments as "alarmist".
The IOSCO review, which is
effectively being carried out on
the FSF's behalf, was initiated
over continuing concerns about
the Securities Commission's
powers to compel companies it
regulates to hand over docu-
ments relevant to appropriate
investigations by foreign regu-
lators and judicial requests.
Mr Sears had warned that the
'goal posts' on regulatory stan-
dards that the Bahamas was



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expected to achieve were con-
stantly being moved, with the
FATF's members chiefly the
US and G-7 group of nations -
seeing 'how high' this nation
will go when they say 'jump'.
Yet many FATF members
are not compliant with the reg-
ulatory standards they are seek-
ing to impose on other nations
and international, financial ser-
vices centres such as the

Cost of living threat
on Florida tax break

FROM page 1

any Bahamian company that
wanted to be represented and
"have a voice" at the Commis-
sion hearings.
"If the export exemptions are
essentially 'Sunsetted' and writ-
ten off the books, the cost of
exports to Bahamian compa-
nies would increase by 6.5 per
cent," Mr Pinder said.
"The additional cost will
either be passed on to the con-
sumer, or the profit margins of
Bahamian companies reduced
by a proportionate amount. In
most cases, it will be passed on
to the consumer.
"Ultimately, there's a good
possibility the Bahamian peo-
ple might end up having to pay
more for their goods. The cost
of doing business will go up in
some fashion if this tax exemp-
tion is lifted."
While Bahamian companies
would have the ability to seek
supplies from different coun-
tries and US states, Mr Pinder
said it was still likely that this
nation would continue to source
the bulk of its products from
Florida even if the sales tax
exemption was lifted.
This was because of Florida's
proximity to the Bahamas, and
the fact that Bahamian compa-
nies had long-standing rela-
tionships with the state's
exporters and shippers.
"Any changes in Florida and
at a US federal level should be
on the radar screens of Bahami-
an companies for a number of
reasons, but primarily because
they are good trading partners,"
Mr Pinder said.
"The Bahamian people are
very cost sensitive, and Bahami-
an companies are very cost sen-
sitive. A 6.5 per cent tax on the
cost of living and the cost of
doing business is very signifi-
cant, especially with the increas-
es in fuel and commodities
prices that we've seen over the
last few years."



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---- -.-. -- 7-- -7* --------- -

Burger King Holdings'

first-quarter earnings

rise by

23 per cent

But shares drop about four per cent as shareholders

disclose plans to sell about a third of their holdings

AP Business Writer

MIAMI (AP) Burger
King Holdings Incorporated
said Monday its first-quarter
earnings rose 23 per cent, but
shares of the world's second
largest hamburger chain fell
almost four per cent as three
big shareholders disclosed
plans to sell about a third of
their holdings.
Burger King's profit nar-
rowly beat Wall Street expec-
tations as movie-related mar-
c eting promotions and sales of
'chicken sandwiches and value
breakfast items helped offset
higher food costs.
- The Miami-based fast-food
-company earned $49 million,
--or 35 cents per share, for the
'three months ended Septem-
ber 30f, compared with $40 mil-
lion, or 30 cents per share, a
year earlier.
- -Revenue increased 10 per
- --- cent to $602 million from $546
S- million in the prior-year peri-
Analysts were expecting a
profit of 33 cents per share on
revenue of $597.1 million,
according to a poll by Thom-
son Financial. The earnings
Estimates typically exclude
one-time items.
Meanwhile, the company
said three private equity funds
TPG Capital, Bain Capital
Partners and the Goldman
Sachs Funds will sell 26.45
million shares of the compa-
ny's stock, or about a third of
their holdings in the company,
at a proposed maximum price
of $26.94 per share. The funds'
ownership stake will be low-
ered from 58 per cent to 39 per
cent once the offering is com-
pleted, according to a Securi-
ties and Exchange Commission
The move appeared to have
' -pressured shares, which fell
'. $1.01, or 3.6 per cent, to close
'at $26.72 Monday.
Analyst David Palmer o'f
UBS Investment Research said

the offering could limit the
stock's performance in the
near-term, but it could have a
long term benefit "as the com-
pany pays down debt and can
begin supporting the stock with
accelerated share repurchas-
Burger King's strategy
includes new product develop-
ment, aggressive marketing.
and a worldwide expansion
that includes opening new
restaurants and closing under-
performing ones in the United
Kingdom and elsewhere.
Despite high fuel prices, rising
food costs and the sluggish
housing market, fast food
chains such as Burger King,
McDonald's Corporation and
Wendy's International Incor-
porated have performed rela-
tively well as consumers seek
affordable options when they
eat out.
"We are thriving in a chal,.
lenging economic environment
as consumers take advantage
of our value and convenience,"
Burger King chief executive
John Chidsey said on a con-
ference call.
In Monday's earnings report,
Burger King said worldwide
same-store sales sales at
stores open at least a year -
rose 5.9 per cent, Burger King
said, while same-store sales in
the United States and Canada
rose 6.6 per cent. It's the 15th
consecutive quarter in which
Burger King has recorded pos-
itive same-store sales world-
Same-store sales is a key
indicator of retailer perfor-
mance since it measures
growth at existing stores rather
than newly opened ones.
In the US, the company said
its marketing campaigns with
"The Simpsons Movie" and
"Transformers" drove sales of
the Ultimate DoubleWhopper
Miami-based Burger King
did well with its TenderCrisp
and Spicy Chick'N Crisp sand-
wiches, and saw improvements

jus cal 322l-108toay

with its breakfast value menu
and during late night hours,
Chidsey said.
Higher costs for commodi-
ties such as beef, chicken and
cheese were balanced by the
stronger same-store sales.
allowing company margins to
expand. Burger King said.
Income from operations
improved 17 per cent to $96
million, compared to $82 mil-
lion reported in the first quar-
ter of fiscal 2007.
The company also reported
that its average restaurant sales
surpassed $1.2 million for the
first time, reporting a seven
per cent increase to $1.22 mil-
lion, compared to $1.14 mil-
lion for the same period in the
prior year.

Burger King paid a cash div-
idend of 6.25 cents per share in
the first quarter.
It also bought 252.000 shares
through its share repurchase
program and retired $25 mil-
lion in debt.
The company and its fran-
chisees opened 440 new Burg-
er King restaurants in the past
year, and Chidsey said he
expected net restaurant growth
of 300 restaurants in fiscal
Burger King operates more
than 11,200 restaurants world-
wide, second to industry leader
McDonald's Corporation.
About 90 per cent of Burger
King restaurants are owned
and operated by independent



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King's Real Estate Company Limited is a Bahamian Real
Estate and Development Company. We are currently
looking for applicants for the helow positions:

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_ --




* By Fidelity Capital

IT was another quiet week
of trading in the Bahamian

market, with only 14,217 shares
changing hands. The market
saw four out of its 19 listed
stocks trade, of which two
advanced and two remained

Volume leader for the week
was Commonwealth Bank
(CBL), with 5,850 shares being
traded, accounting for 41 per
cent of the total shares
exchanged. Its price increased
by $0.01 per share to close the
week at $16.56 per share.
Price leader for the week
was Bahamas Waste (BWL),
which increased by $0.04 a
share to close out at $3.74.
Leading the decline for the
week was Consolidated Water
Company, which declined by
$0.49 during the week to close
at $6.39.
The FINDEX declined by
0.08 points or 0.01 per cent,
week-over-week to close at


FOCOL Holdings Ltd
(FCL) released its unaudited
results for the Year ended July
31, 2007, this week. FCL
reported net income of $13.9
million compared to $13.4 mil-
lion the previous year, an
increase of $0.5 million or 4
per cent.
However, not income avail-

able to common shareholders
declined by $0.2 million or 2
per cent due to higher divi-
dends on preference shares
paid during the year.


FCL's revenues were up by
$72.6 million, while cost of
sales increased by $62.6 mil-
lion, giving a net increase in
gross profits of approximately
$10 million for the year.
FCL's operating expenses
increased by $9.5 million for
the Year, primarily due to'
higher marketing, administra-
tive and general expenses,
which increased by $8 million
or 50 per cerit over the prior
FCL's total assets increased
by $19.3 million to $130.4 mil-
lion, due primarily to an
increase in capital assets of
$10.1 million and inventories
of $5.2 million, resulting from
several acquisitions made in
the year.
Total liabilities increased by
$11 million to $72.5 million,
while shareholders' equity
increased by $8.3 million to
$57.9 million.

Government 'working

feverishly' to sign EPA

.FROM page 1

oping an all-encompassing trade
policy to deal with all eventual-
While the Government would
do its best to protect duty-free



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

market access for Bacardi's
rum, the seafoods industry and
Polymers International, the pre-
vious position had been that the
Bahamas was quite prepared to
miss the December 31, 2007,
deadline if signing the EPA was
not perceived to be in its inter-
Apart from potentially expos-
ing the financial services indus-
try to the EU's tax information
exchange demands, the Gov-
ernment had also been worried
that the EPA agreement could
include clauses relating to ser-
vices, competition policy, intel-
lectual property rights, anti-
dumping policies and the like.
There was also the possibility
Bahamas would also have to
open its services industries to
EU firms and EU nationals.
Hank Ferguson, the adviser
to the Bahamas Chamber of
Commerce and its globalisa-
tion/trade liberalisation com-
mittee, had urged the Govern-
ment to at least go to Brussels
with "minimalist" market access
and services offers.
Without these, he suggested
the Bahamas would be unable
to fully participate in the nego-
tiations and shape the EPA
agreement to suit its economic
needs and wants. While Mr
Laing will not have these offers,
he said the Bahamas fully
intends to participate in the
Brussels talks.

The minister added: "We will
not be in a position to provide
an offer to the meeting, but we
will certainly be in a position to
monitor offers currently on the
table to determine how great a
gap there may be between what
we could possibly offer, and
what is now on the table.
Mr Laing said he would be
travelling to Brussels "to make
an input. To the extent that
there may be aspects of the pro-
posed agreement that may be
problematic for ourselves, we
will intervene and seek to shape
and craft an agreement suitable
to our economic interests and
those of the region.
"We're going to observe, but
also to be full participants in
the negotiations. That's some-
thing the Caribbean and EU
want to see as well.
"We all have to keep ham-
mering away and negotiating,
but things are a lot less murky
than they used to be."
Among the attractions for the
Bahamas in re-visiting the EPA
and seriously assessing whether
to sign, Mr Laing said, are the
fact that the agreement seems
likely to focus more on market
access and goods issues, rather
than services.
He called, though, for "vigi-
lance" as the EPA agreement
was still in draft form, and the
text still being assessed. Nego-
tiations on services at last

week's Jamaica meeting,
though, appeared to have been
less problematic than services.
Caribbean Regional Negotiat-
ing Machinery (CRNM), which
is negotiating the EPA on the
Bahamas and region's behalf,
are understood to be delighted
the Bahamas is back at the
negotiating table.
CRNM officials visited the
Bahamas last month to obtain
the Government's position on
the EPA and are understood to
have come away with no clear
The absence of a Bahamas
position on the EPA is under-
stood to have been the major
factor why this nation's market
access offer, featuring tariffs and
their possible reduction on
more than 6,000 product cate-
gories, which was submitted by
CARICOM Ambassador A
Leonard Archer under the pre-
vious government, has not been
placed on the table and incor-
porated into the EPA agree-
While no services offer was
submitted under the Christie
administration, The Tribune
understands that the market
access one was. No progress was
made, because CARIFORUM
at the time was awaiting offers
from the 14 other Caribbean
nations to rationalise all into a
single offer.


The Bahamian Stock Market

FINDEX 869.44 YTD 17.16%











FROM page 1

million spend.
Vernice Walkine, the tourism
director-general, yesterday told
a Bahamas Institute of Char-
tered Accountants (BICA)
seminar that the ministry has
been limited by its advertising
budget for 2007.
"If you want to get an idea
of how low that is, compare it to
Cancun's budget, which is $100
million," she said.
* Ms Walkine explained that
this year's advertising budget is
low because the Ministry of
Tourism has very high staff
overheads, and its large mar-
keting budget of about $20 mil-
lion also includes promotional
and public relations events.
This year's budget for pure
advertising is one of the lowest
ever, as it generally runs
between $4 million and $12 mil-
lion per annum.
To achieve all the advertis-
ing goals and saturate the mar-
ket by promoting 'brand identi-
ties' for all 12 major Bahamian
islands, Ms Walkine said she
would love a pure advertising
budget of $50-60 million. She
added that she would realisti-
cally be happy with about $15
million a year.
Meanwhile, Ms Walkine said
August air and sea visitor
arrivals showed an increase over
recent months, ending the
downward arrivals trend plagu-
ing the Bahamas and leaving
the Ministry of Tourism pre-
dicting a positive winter perfor-

She added that the latest sta-
tistics indicate the Bahamas has
turned a corner after experi- '
encing a double-digit arrivals
drop in recent months. She ..
added that the September and.
October figures, although not "
yet complete, appear to be on.- -
track for an increase as well. :',
"So it looks as though the--
patient is expected to live," shed -
Ms Walkine said the "
Bahamas remains challenged by
a number of issues affecting the.
industry, including the state of -
the country's airports, the con--
ditions of the cruise ports, the-.' -
lack of activities for visitors tq
partake in and the quality of. -
the product being offered. The'
Bahamas was further chal-
lenged with attracting visitors ...
from emerging markets and. -
increased airlift. -
She said the Ministry of
Tourism was seeking to effec-
tively develop and brand each
island with its own identity. .
"We must communicate that,' .
there are multiple island desti- -
nations within the Bahamas .
and we will position ourselves aS
the closer Caribbean," Ms ..
Walkine said.
"We must ensure a sustained
year-round programme of
advertising using all media. The
competitive environment is
unprecedented, and we will nev-
er be able to outspend the com-
petition. However, in order to,
preserve our market share, we
will need unprecedented levels.
of spending across all media." K

International Markets

Weekly %Change

CAD$ 1.0703 2.93
GBP 2.0889 1.78
EUR 1.4506 0.79

Weekly %Change

Crude Oil $95.93 4.43
Gold $808.50 2.67

International Stock Market Indexes:

Weekly %Change

DJIA 13,595.10 -1.53
S & P 500 1,509.65 -1.67
NASDAQ 2,810.38 0.22
Nikkei 16,517.48 0.07


Consolidated Water Company has declared dividends of
$0.013 per BDR, payable on November 7. 2007, to all share-
holders of record date September 30, 2007.

FCL has declared dividends of $0.03 per share, payable on
November 13. 2007. to all shareholders of record date Octo-
ber 31, 2007. FCL has announced an extraordinary general
meeting for November 15, 2007.

FAM has declared dividends of $0.06 per share, payable
on November 13, 2007, to all shareholders of record date
November 6. 2007.

BWL has declared dividends of $0.09 per share, payable
on November 23, 2007, to all shareholders of record date
November 14, 2007.

CBL has announced a three-for-one stock split of its
ordinary shares. The record date for the stock split is October
26, 2007, with trading date of November 7, 2007, and effective
split date of November 9, 2007.

DHS has announced an extraordinary general meeting for
November 28,2007, in DHS Conference Room at 5.30 pm.



by low ad


Pricing Information As Of: C F A LTM
Monday. 5 November 200 7
SBix-AtLL BHARE INDlX? CLOSE 41.91'589 CHG -00.59 /%CHG -00 03 / YTD 239.70 / YTD % 4, '
52wk-Hi 52wk-Low Securit y Previous Close Today's Close Change Daily Vol. EPS $ Div $ P/E Yield
1.66 0.54 Abaco Markets 1.59 1.59 0.00 0.094 .0.000 16.9 0.00%
11.74 11.00 Bahamas Property Fund 11.60 11.60 0.00 1.502 0.400 7.7 3.45%
9.55 7.80 Bank of Bahamas 9.55 9.55 0.00 0.733 0.260 13.0 2.72%
0.85 0.70 Benchmark 0.85 0.85 0.00 0.048 0.020 17.7 2.35%
3.74 1.65 Bahamas Waste 3.74 3.74 0.00 0.275 0.060 13.6 1.60%
2.62 1.20 Fidelity Bank 2.61 2.61 0.00 0.051 0.040 51.2 1.53%
11.05 9.81 Cable Bahamas 11.00 11.02 0.02 2,255 1.030 0.240 10.7 2.17%
3.15 1.83 Colina Holdings 3.15 3.15 0.00 0.208 0.080 15.1 2.54%
16.56 12.10 Commonwealth Bank 16.56 16.56 0.00 1.190 0.680 13.0 4.11%
7.22 4.70 Consolidated Water BDRs 6.38 6.29 -0.09 0.112 0.050 57,1 0.78%
2.70 2.20 Doctor's Hospital 2.25 2.25 0.00 0.284 0.020 7.9 0.89%
6.50 5.54 Famguard 6.50 6.50 0.00 0.804 '0.240 8.1 3.69%
12.80 11.75 Finco 12.75 12.79 0.04 2,800 0.768 0.570 16.7 4.46%
14.75 13.85 FirstCaribbean 14.65 14.65 0.00 0.934 0.470 15.7 3.21%
6.10 5.18 Focol (S) 6.09 6.02 -0.07 1,000 0.359 0.133 16.8 2.24%
1.00 0.54 Freeport Concrete 0.70 0.70 0.00 -0.415 0.000 N/M 0.00%
8.16 7.10 ICD Utilities 7.25 7.25 0.00 0.411 0.200 17.6 2.76%
10.05 8.52 J. S. Johnson 10.05 10.05 0.00 0.991 0.590 10.1 5.87%
1" ,n 1000 Premier Real Eslale 10 00 10 00o 0 00 1 16"7 0 600 8 6 6 00"
""" :'. '. FIddilfty Over-The-Counter Securities
'..., 52Ak-Low Srmbol BidC k LitI .'.:e '.,ePI. .01 EPS i. Di. .b PFE iei3
.1 '., 1-1 25 Banamas Superrr.arKetls 14 1 I6 ,,'' 1, i- I.,i' 1 1 .", 1 12 '. 1 3 :
8.00 6.00 Caribbean Crossings (Pref) 6.00 6.25 6.00 0.000 0.480 NM 7.80%
0 54 020 RND Holdings 035 0o 40 n r O 0010 0000 1 NM .1 000 '
...* CoIfrs Over-The-Counter S.curllies
.1 l1:i: 41 I.' BDC, B 1 00 .-1 '-2,- .-'I ,04 J, "i6 2 5 6 '" .
14.60 14.00 Bahamas Supermarkets 14.60 15.60 14.00 1.160 1.125 13.4 7.71%
0.55 0.40 RND Holdings 0.45 0.55 0.45 -0.030 0.000 N/M 0.00%
SBIX Listed Mutual Funds
52t-k-H. 5 .'i.-L ,... Fu...j Name NA '. '2T La',i 1 r. 1,1..'. Dr i.,Viei.:
1.3615 1.3128 Colina r.1lr.e, r.larp.eI IFuna 1 3614a1 2"
3.3829 2.9449 Fidelity Bahamas G & I Fund 3.3829"*
2.9215 2.4687 Colina MSI Preferred Fund 2.921539***
1.2741 1.1970 Colina Bond Fund 1.274052"*
11.6581 11.2596 Fidelity Prime Income Fund 11.7653"*
.x.. t cLose 4M / YTD 17.16% / 2oa0 34.47%
BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00 MARKET TERMS YIELD last 12 month dividends divided by closlllng price NA KEY
52wk-HI Highest closing price in lest 52 weeks Bid $ Buying price of Colina and Fidelity
52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Colina and fidelity 26 October 2007
Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price ** 30 June 2007
Today's Close Current days weighted price for daily volume Weekly Vol. Trading volume of the prior week "" 30 September 2007
Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths u. 31 July 2007
Daily Vol Number of total shares traded today NAV Net Asset Value
DIV $ Dividends per share paid In the last 12 months N/M Not Meaningful
PIE Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index January 1 19940 -1001
(S) 4-for-1 Stock Split Effective Date 8/8/2007
TO TRADE CALI_ .QLPUNA,24?-,$* TXM-,0, tF IM. DATA & INFOF lTION cG t(20W2 a


NOTICE is hereby given that DALFIN ICYLIN
MAJOR of Constitution Dr., 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 6th day of November, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box
N- 7147, Nassau, Bahamas.





JUDGE PARKER-_-_ _ _ 4 A FU E,',L J


Fair Exchange Is No Robbery

South dealer.
Both sides vulnerable.
482 4#54
VK1085 V32
*K53 *J974
4QJ97. 4+K10632
Y9 76
The bidding:
South West North East
14 Pass 2 Pass
S 3* Pass 3 V Pass
Opening lead queen of clubs.
The loser-on-loser play is a
weapon every competent declarer
carries in his bag of tricks. It is a play
by which he concedes a trick he
doesn't have to lose in order to gain
a positional advantage that will net
him one more trick than he would
otherwise have made.
Take this case where West leads a
club against six spades. Declarer

wins, draws two rounds of trumps
and finesses the jack of hearts.
After the jack wins, he ruffs a
club and finesses the queen of hearts.
At this point, instead of cashing the
ace in the hope of finding the suit
divided 3-3, declarer makes the sub-
tle move of ruffing dummy's last
club. The purpose of the ruff is to
guard against losing two diamond
tricks, which is now the sole danger
in the hand.
South then plays a heart to the
ace, supremely confident of the out-
come. When the hearts fail to divide
3-3, declarer is not tempted to try a
diamond finesse which would
prove fatal as the cards lie but
instead leads dummy's last heart and
discards a diamond on it
West wins the heart but is forced
to return a diamond into the A-Q or
yield a ruff-and-discard by returning
a club. Either way, declarer makes
the slam.
By adopting this method of play,
South in effect swaps one loser for
another. He deliberately loses a heart
trick he doesn't have to lose in
exchange for a diamond he does
have to lose. In the process, though,
he gains a crucial extra trick. Who
could ask for anything more?











words hi
the mal
body of
Ino' l

-7^r %< I -r-1 HOW many words of four
Of v ( letters or more can you make
SO from the letters shown here? In
making a word, each letter may
S. be used once only. Each must
contain the centre letter and
there must be at least one
nine-letter word. No plurals.
Good 15; very good 22; excellent
. n.r.. .= .., 30 (or more).
Solution tomorrow.



^ ACROSS 2 Cuvable by a Middle.Easterner
1 The old plane umed up at with left foot missing (6)
Leathertead (5) much done nven by an mentor
6 Boatusedby a runner withmuchI)
noise (5) e 4 m
9 Expressionlessasadefunctdeity 4 A bi of a simpleton, yl allow (3)
( Badly red by one that won't wok
10 One of a couple holding up the ( )
boat? (5) 6 Growing evidence that Silas Is
11 Are things apt to fall off the back of upset by heartless Fay (7)
one? (5) 7 Te atspeed (4)
12 Justthe tiniest bitstale,perhaps(5) 8 Such add Is used In the endless
13 A mistake thatalways comes out? unravelling of crime (6)
(7) 12 Discover the French have a navy
15 Not easily seen in numbers (3) (5)
17 Remain heartless in restraint (4) 13 start boozing what left of the port
18 Such work Is obviously not done on
the inl (6) 14 Oldpossibyenabledtorun
20 Don't walk out get involvedl (4.2) better (5)
22 It's IntheSoutheast,thislocatn DownSou, t makesDiana crss,
(4) that is (5)
24 Thanks a lot for very little! (3) I1 fIyouwantaffght,fish'emtupl(5)6
25 Does It strike the viewer as 18 Cause of mother's tears? (5)
something fishy? (7) 19 It goes to a clergyman's head (7)
26 Of French and German, it's said to 21 Accommodate deceptively? (4,2)
be Halordeous nlyat frs5) 22 A picture to draw at some risk? (6)
appearance (5) 25 Soft, sovery soft, on the fourth of
28 Uncover something comic? (5) July (5)
29 Such pencils aren't for writing (7) 26 Hindustani word for powdere (4)
30 Nominally a neater copy (5) 28 Be In a position you can't stand
31 The top parts well up on your leg (3)


ACROSS: 4, Aspec-t 7, Land-seer 8, Stairs 10, A-bld-e 13, Goes 14, Sole 15,
Lena 16, (Ma-)Gog 17, Brer 19, Plot 21, S-team-boat 23, Disc(-over) 24, Arts
26, Non 27, Anna 29, Stop 32, Play 33, Boot-H 34, Panels 35, All right 36,
DOWN: 1, Fleas 2, AnvI-L 3, A-she 4, Ar-son 5, Pe-as 6, Car-rot 9, Teapot 11,
Bob 12, D-ebts 13, Ger-many 15,,Lea 16, Go-t 18, Recall 20, Lass-o 21, Sin
22, Bra 23, Do-sage 25, Pot 28, N-as-a-L 30, Tough 31, P-hot-o 32, Pear 33,


ACROSS: 4, Animal 7, Reappear 8, Statue 10, Cress 13, Soon 14, Earl 15, Sent
16, Hen 17, Oval 19, Edit 21, Epidermis 23, Free 24, Cost 26, Far 27, Note 29,
Told 32, Onus 33, Tower 34, Format 35, Eeriness 36, Crater
DOWN: 1, Truce 2, Paper 3, Opus 4, Arson 5, Iran 6, Amulet 9, Totemc 11, Raw
12, Slope 13, Selects 15, Sad 16, His 18, Vienna 20, Ditto 21, Err 22, Roe 23,
Favour 25, Ale 28, Outer 30, Owner 31, Dress 32, Omit 33, Trip

Confict (5)
Conceit (5)
Master-of- .
ceremonies (7)
Bend (5)
Foe (5)
Float (5)
Solace (7)
animal (3)
Burden (4)
street (6)
Felines (5)
Dried grape (6)
Fewer (4)
Curve (3)
Angry reply (7)
Polite (5)
r re (5)
Deserves (5)
i Resistant (7)
i Avarice (5)
Postpone (5)

Ointmen (e)
Jeers (6)
Jump (3)
Recreation (5)
Favours (7)
Tear (4)
Turned down
Sewer (5)
sound (5)
Curt (5)
Smith's block
Bounded (7)
king (6)
I Find (6)
I Pqsltlon (6)
5 Stiff (5)
I Cipher (4)
9 Finish (3)

ARIES March 21/April 20
You may not be too wealthy today, but
a profit will show soon. You can con-
vince colleagues that your way is best.
Business activities of anll kinds will go
well this week.
TAURUS April 21/May 21
Something dramatic will happen at
the office this week, Taurus.
Although it will come as a shock,
you'll realize later that it has been in
the cards for some time.
GEMINI- May 22/June 21
Don't let yourself be sidetracked,
Gemini; focus on practical matters.
You need to concentrate on the little
things that need to get done before
moving on to the movie exciting projects.
CANCER June 22/July 22
There's nothing you can't have
this week, if you want it badly
enough. All you have to do is g6
for it. Don't hide your talents -
get out there and show 'em what
you've got!
LEO July 23/August 23
Now is a time of healing for you and
that special someone. Make it clear
that you're no longer interested in
silly emotional games, and your rela-
tionship will improve greatly.
VIRGO Aug 24/Sept 22
You're bound to make new friends
and contacts this week, Virgo, if.
you just get out of the house. Even
the most tongue-tied will be able
to put their feelings into words.
LIBRA Sept 23/Oct 23
If you need to sort out your finances,
now is a good time to do so. No
matter how much debt you have,
don't be afraid to explore new
money-making ideas, Libra.
SCORPIO Oct 24/Nov 22
This is going to be one of your best
weeks all year, at work and in your
personal life. No matter how good
things look now, they'll get even bet-
ter bynu mid-week.
SAGi .ARIUS-Nov23/Dec 21
It's not often that you have a chance
to slow down and take stock of what
you're doing, but you will this week.
Once you identify your goals, you'll
make a change that brings you even -
closer to achieving them.
CAPRICORN Dec 22/Jan 20
Your cash-flow situation will improve
somewhat this week, as will your attitude
towards material things. Look for the
unexpected his week- and rem ber,
that change is not such a bad thing.
AQUARIUS Jan 21/Feb 18
You are usually pretty self-assured,
but there have been times recently
when your confidence has been low.
However, it won't be long before you
are back to your best.
PISCES Feb 19/March 20
Don't take the easy road this week,
Pisces. At work and in your private
life, you're feeling adventurous. Go
for it! The higher you aim, the more
you will achieve.


Vishy Anand v Arkady Naiditsch,
Dortmund 2007. The German
number one was the lowest
ranked grandmaster in his
country's annual elite
tournament, so the Indian
hoped for a full point with the
favourable white pieces. But
Naiditsch defended dourly, and
missed a clear draw before they
reached today's diagram. Black
still hoped for a half point.
Material is level, while Black has
the double threat of Rf3+
winning White's last pawn or
even the simple 1...Bxf5 2 Rxf5
since king, rook and knight
against king and rook is a draw
with best play. It looks as if
Anand has run out of winning
options, since after 1 Rf7+ Kg8
2 Rf8+ Kh7 3 f67 is met by Bxe6.

However the GM from
Chennai/Madras had it all worked
out. Can you spot White's
sequence which induced Black to


Chess solution 8477: 1 Ng5+l
Kh8 2 Rh6+ Kg7 3 Rg6+ and If Kf8
4 Nh74 or Kh84 Nf7+
followed by 5 Rxg4 winning the
bishop and the game.


i i ii.........OMICS..AGE.





From the earliest days of the
organization, Rotarians were
concerned with promoting high
ethical standards in their
professional lives. One of the
world's most widely printed and
quoted statements of business
ethics is The Four-Way Test,
which was created in 1932 by
Rotarian Herbert J. Taylor. This
24-word Test has been
translated into more than a
hundred languages and
published in thousands of ways.
It asks the following four

The Four-Way Test
"Of the things we think,
say or do
1. Is it the truth?
2. Is it fair to all
3. Will it build goodwill
and better friendships?
4. Will it be beneficial to
all concerned?"

1. Children ages 10-16 may enter. Judging will be in two
age categories: 10 13 years and 14-16 years for a first
and second place winner in each category.
2. Write a essay answering the following subject:
"What does the Four-Way Test mean to me." Explain
your understanding of the 4-Way Test as it relates to
your life, experiences, and/or society in general."
Your essay must include the four principles.
3. The body of the essay must not exceed 1,000 words.
Adults may assist the child in filling out the entry form,
but not in writing the letter.
4. Limit one essay per child. All entries must be received by
the Rotary Club of East Nassau before Nov 30, 2007.
5. Only essays accompanied by original entry forms clipped
from the newspaper will be accepted. Photocopy, fax,
carbon or other copies will not be accepted.
6. One winner will be chosen from each age category. The
decision of the judges is final.
7. Winner must agree to a photo presentation which will
be published in the newspaper.
8. Mail essay and completed newspaper clipping to
The Four-Way Test Essay Competition.
Attn: Michele Rassin, The Rotary Club of East Nassau,
P.O. Box SS-6320, Nassau, Bahamas

The Tribune

Child's Nam_, ,.


P.O. Box:
Email Address:
Parent's Name:
Parent's Signature:
Telephone contact: (H) (W)
All entries become property of the Rotary Club of East Nassau and can be used
and reproduced for any purpose without compensation.

Rotary Club of





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