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Permanent Link: http://ufdc.ufl.edu/UF00084249/03031
 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: 11/7/2007
 Subjects
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
System ID: UF00084249:03031

Full Text









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Volume: 103 No.288


WEDNESDAY, NOVEMBER 7, 2007


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101


By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net
A CALL has been made for
Minister of Labour and Mar-.
itime Affairs Dion Foulkes to
resign after nine families
* claimed they had been left in
severe financial straits by a
housing development that went
wrong.
Representative for the fami-
lies, Omar Archer, yesterday
blamed Mr Foulkes' former law
firm for their plight, claiming
the developer had built prop-
erties without proper planning
approval.
But Mr Foulkes last night
countered his claim, saying his
company had done all that was
required of it and was "totally
blameless" in its dealings with
the home-buyeis.
"Their case is against the
developer," he told The Tri-
bune. "I did everything in accor-
dance with the normal proce-
dure for executing mortgages
at banks."
Mr Foulkes, along with for-
mer FNM candidate for St
Cecilia, Desmond Edwards,
represented Bahamians who
were seeking to secure loans to
invest in a proposed develop-
ment off Cowpen Road called
Stephen's Close.
SThey have been accused of
failing to inform First


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Caribbean Bank that the pro-
ject did not have government
approval and was without the
necessary infrastructure that
would normally be prerequisite
to loan approval.
"The bank was not alerted to
these issues by the lawyers and
neither were the investors,"
claimed a source who described
the situation as a "comedy of
errors."
This ultimately led to the
individuals being approved to
pay off loans of over $100,000
each in most cases for houses
that now stand partially com-
pleted and seriously vandalised
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* By KARIN HERIG
Tribune Staff
Reporter
kherig@tribunemedia.net
THE country's murder
rate yesterday rose to 63
for the year when a 43-
year-old man was stabbed
to death with a screwdriv-
er in front of his home.
Police yesterday arrest-
ed a man and woman in
connection with two sepa-
rate stabbing incidents -
one of them ending fatally.,
The first incident
occurred shortly before
6am yesterday, when
Theophilus McKenzie, 43,
was stabbed in front his
house in an argument over
a small amount of mon-
ey.
According to police, a
man in his early 30s came
to Mr McKenzie's home
on the corner of East and
Fowler Streets, opposite
the Lucky Food Store No
3, to settle a money matter.
However, the two men
soon got into a fight and
Mr McKenzie was stabbed
multiple times in his chest
with a screwdriver.
Witnesses told The Tri-
bune that, after he was
SEE page 10


* By BRENT DEAN
Tribune Staff Reporter
bdean@tribunemedia.net
A LAND surveyor hired by
former PLP MP Allyson May-
nard-Gibson claimed to have
located 48 people living out-
side the constituency bound-
aries who voted in Pinewood
on May 2, while also telling
the court that there are inac-
curacies on the. official
Pinewood constituency map.
Stafford Coakley, a survey-
or with 49 years experience,
took the witness stand yester-
day under questioning from
PLP lead attorney Philip
'Brave' Davis, in front of
Senior Justice Anita Allen
and Justice Jon Isaacs.
Mr Coakley testified that
the streets on the south-east-
ern quadrant of the con-
stituency map are all one
street south of where they are
in actuality. A water treat-
ment system was placed in the


area of Pine Street, he said,
and instead of extending Pine
Street as should have been
done on the constituency map,
it was lowered, placing it and
all the roads south of it, out of
place.
The witness also provided
SEE page 10


First charges
in Ministry
of Housing
investigation

* By PAUL G TURNQUEST
Tribune Staff Reporter
pturnquest@tribunemedia.net
THE first in what.police
expect to be a number of arrests -
in their Ministry of Housing
investigation has landed a
female secretary at the Ministry
of Youth, Sports, and Culture
before the courts.
Patricia Strachan, 54, of Tall
Pines, was yesterday charged in
Magistrate's Court, Nassau
Street, with fraud by false pre-
tences, forgery, and uttering a
false document. She denied the
charges.
This arrest and others pend-
ing are a result of a series of
investigative articles by The Tri-
bune on the ministry over the
past two years.
Pressured by the persistent
call for transparency over the
issuance of housing contracts,
former Minister of Housing
Neville Wisdom officially called
for the police investigation on
November 8, 2006.
Since then, police have con-
ducted a number of interviews
with contractors, housing
SEE page 10

Three Cuban
escapees are
still at large
* By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net
THREE Cubans "risked their -
lives" during an escape late Mon-
day night and are still at large
after breaking out of Carmichael
Road Detention Centre, the Roy-
al Bahamas Defence Force
revealed yesterday.
This recent escape marks the
second time in less than three
months that Cuban nationals
managed to break out of the
holding facility without being
apprehended.
RBDF officials confirmed to
The Tribune that an investigation
was underway to determine
whether any of the guards on
duty were negligent in this most
recent escape.
According to a release issued
SEE page 10


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Former law firm of

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P A G E 2 W E D N E S D A Y N O V E M B E R 7 2 0 0 7 T HEO CT R I B U N E


Salvation Army shipping

water to storm victims


THE Salvation Army is
shipping 600 gallons of water
and care packages to the
southern Bahamas to assist the
people there in the wake of
Tropical Storm Noel.
' Major Lester Ferguson, divi-
sional commander of the Sal-
vation Army, said that his
organisation felt compelled to
help as many families as soon
as possible, especially with the
potential outbreaks which can
occur due to contaminated
water as result of the flooding
in those islands.
"Although we haven't been
to Cat Island and Long Island
since the storm we've heard of
the devastation and we are
doing our best to respond to
what island administrators
have stated as resident's great-
est needs," he said.
In addition to the 600 gal-
lons of potable water, the Sal-
vation Army is also sending


100 cases of canned goods, 200'
buckets filled with cleaning
products, 500 mops and a small
supply of clothes to the affect-
ed islands in the southern
Bahamas.
"Our care package to Long
Island and Cat Island will
arrive on Wednesday and we
are also organising packages
to be shipped to Eleuthera and
Exuma by the end of the
week," Mr Ferguson said.
As Tropical Noel swept
through the Bahamas last
week, it left extensive flood-
ing and destruction in its wake
and claimed the life of one
man in Exuma. I
Some areas in Long Island,
Cat Island and Exuma are still
underwater.
Long Island was the worse
affected of all the islands, as a
record 15 inches of rain caused
hundreds of homes, businesses
and homes to be flooded.


'We're still waiting



for our assessment



teams to come int


* By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net
NEMA officials are still conducting field
assessments throughout the Family Islands
most affected by Tropical Storm Noel and
have yet to submit a final report to the
government.
Assessment teams dispatched to Long
Island and San Salvador to compile
reports to be issued to the government
are scheduled to return to the capital
today, Crystal Glinton of NEMA told The
Tribune yesterday.
It is do to this fact, she said, that an
official report is not yet available on the
status of those islands.


"We're still waiting for our assessment
teams to come in. Once we've completed
the assessments then the government will
make a decision.
"You hear things back and forth but
we want our things documented so we'll
be certain of the right steps and the right
decisions to make to be able to assist our
people."
According to Sergeant Alexander Lar-
oda, officer-in-charge of the San Salvador
police station, residents there weathered
Noel's passage relatively unscathed.
"There were no injuries, no major dam-
age, no loss of life we basically suffered
just localised flooding.
"At this point most of the water has
already receded. Folks are getting back to


normal, getting back to their day-to-day
activities.
"We're just now dealing with the pri-
mary school area (in Cockburn Town)
that is saturated with water."
He added that on Sunday, Department
of Public Works employees were pumping
water from the primary school in Cock-
bum Town which was submerged in about
two to three feet of water as a result of
Noel's torrential rain.
The Sandy Point and Sugar Loaf set-
tlements also received some flooding,
however residents reported to local offi-
cials that the water is already receding.
Electricity and water services are all
functioning and the airport and all major
businesses are open, Sgt Laroda said.


Expo still on schedule despite Noel


THE Bahamas Agricultur-
al, Marine Resources and
Agribusiness Expo opens on
schedule despite the ravages
.of Tropical Storm Noel.
The expo is set to open at
11am tomorrow at the Glad-
stone Road Agricultural Cen-
tre.
"The response to the expo
has been excellent," said
Bahamas Agricultural and
Industrial Corporation
(BAIC) consultant Benjamin
Rahming during a tour of the
facilities on Tuesday. "All the
stakeholders in New Provi-
dence are ready to go.
"Some of the Family
Islands, unfortunately, suffered
loss of livestock and crops
from Noel. Their participation
will be limited."
To be held under the theme:
'Promoting locally sustainable
agricultural and marine pro-


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^.w-W~i""111'1' ^^ ^.


duction and consumption:
strengthening agribusiness',
the expo will cover the full
scope of the Ministry of Agri-
culture and Marine Resources
headed by Larry Cartwright,
MP for Long Island and
Ragged Island.
Sponsored primarily by the
Ministry of Agriculture and
Marine Resources, the expo
has drawn support from
BAIC, Bahamas Agricultural
Producers Association, the
Inter-American Institute for
Co-operation on Agriculture
and others.
Patrons can expect exhibi-
tions of prized livestock,
marine products, fruits, veg-
etables, root crops, processed
foods, drinks, ornamentals and
souvenirs from throughout the
Bahamas.
Participants will be invited
to play a part in topical dis-
cussions and seminars to
explore solutions to some of
the challenges confronting this
sector, which have negatively
impacted the attainment of a
greater degree of national food
security and sustainability of


the country's natural
resources.
"We are capable of produc-
ing on par with many coun-
tries in the world," said Mr
Rahming. "For us'agriculture
and fishing are major indus-
tries.
"An objective of the expo
is to showcase the best the
Bahamas has to offer in food


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middle of the Bahamian capital.


production.
"We all know that food
security is a major issue. The
Bahamas has the capacity to
produce. We have the land for
it and we have the expertise.
"We have been producing
all along and this expo should
demonstrate that we are capa-
ble of surpassing what we have
been doing."


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MAIN SECTION
Local News...........P1,2,3,5,6,7,8,9,10,11,12
Editorial/Letters. ...................................... P4
BUSINESS SECTION
Business ................................. P1,2,3,4,5,6,7
Advt ..........................................................P8
ARTS SECTION
Arts ........................................... PI,2,3 6,7,8
Com ics.............................. ........................P4 ,
Advt.................................................... .... P5

CLASSIFIED SECTION 32 PAGES

USA TODAY MAIN SECTION 12 PAGES.

SPORTS SECTION
Local Sports .....................................P1,2,1 5
USA Today Sports...............................P3 14
W eather...........................,,..........................P16


Sanpin Motors Ltd

Your

NISSAN & KIA DEALERS





Will Be CLOSED froml-3pm

Wednesday November 7th



To Honor Mr. Sidney Fox

Retiring After

28-1/2 years of

Dedicated and Loyal Service



The Sanpin Motors Family

Wish him well and want him to know

He will be missed.



From The Directors:

Mr. G. Wayde Sands,

Mr. Frank Pinder, Mr. Donald Johnson,

& Mr. Timothy Moses.


f ,-


I I


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


THE TRIBUNE


PAGE 2, WEDNESDAY, NOVEMBER 7, 2007


6=rand New ;llll











THETRIBUNEWEDNESDAYNOVEMLOCALNEWSBER7,2007PAGE3


0 In brief

Holocaust

i speak to


schoolchildren
A WELL-KNOWN holo-
caust survivor who suffered
torture at the hands of the
Nazis will be in Nassau later
this month to speak to school-
children about the horrors of
the Hitler regime.
Rose Price, 85, is expected
to give talks at seven local
schools as part of her mission
to ensure the new generation
is aware of the holocaust,
which resulted in the deaths
of six million Jews during the
Second World War.
However, her friend,
Angelique Roker-McDowall,
said her lectures would not
dwell on gruesome aspects of
her own experiences, but tell
the truth in simple terms.
"She is a truly remarkable
woman who loves every-
body," she added, "She radi-
ates love and has the energy
of a young person."
Mrs Price and her husband
will be in Nassau from
November 16-23. She is due
to speak at Kingsway Acade-
my on November 20-21
(8.30am), and will be at other
schools on various dates dur-
ing her stay.
The courageous survivor of
Nazi atrocities has just com-
pleted a tour of Germany in
spite of having had a quadru-
ple bypass and heart valve
replacement.
There she met grandchil-
dren of some of her torturers
at concentration camps where
she witnessed some of the
worst excesses of the time.
During her incarceration at
the mercy of the Nazis, Mrs
Price was buried naked in
snow up to her neck as part of
an experiment to see how
long it would take for her legs
to freeze.
She will arrive in Nassau
with several copies of her
book, A Rose from the Ashes,
which describes her childhood
in Skarzysko, Poland, her lib-
eration from captivity and the
ups and downs of building a
new life in the United States.
Mrs Roker-McDowall said:
"At a.tin~J hen some peo-
ple ati tfling to deny the
holocaust ever happened, it is
important that survivors tell
their stories."
-,. Mrs Price has toured wide-
ly in trying to get, over her
message. She has held audi-
ences captive for decades.
Readers of her book, which
has been described as an epic
S.. story, have been most
*'-" impressed by her spirit of for-
giveness. ,
One reviewer wrote: "I was
very inspired by her ability to
forgive. I hope to become
more forgiving myself."


WestJet begins

direct flights

from Canada to

the Bahamas
THE Canadian airline
WestJet's has officially begun
its new seasonal non-stop ser-
vice to the Bahamas.
The service is an example
of how the attractiveness of
the nation as a vacation desti-
nation continues to entice
*" major air carriers to it shores,
S Minister of Tourism and Avi-
ation Neko Grant said.
-. "We are impressed by the
fact that in conjunction with
pioneering low-cost high value
flying in Canada, WestJet has
built an enviable reputation
during its 10-year history for
exemplary customer service
on its modem fleet," Minister
Grant said during a press con-
ference following the airline's
inaugural flight from Calgary,
Alberta.
"This combination of low
fares and quality service will,
we believe, serve The
Bahamas well, as we seek to
S enhance our position as the
destination of first choice for
warm-weather vacations," he
added.
Founded in 1996, WestJet
serves 38 destinations with a
fleet of Boeing-Next-Genera-
tion 737 jet aircraft. It will


offer nine weekly flights from
Toronto and Calgary.
Minister Grant said th'e
number of flights is expected
to grow to 12 weekly flights
by February 2008 with addi-
tional departures from Hali-
fax, Nova Scotia and Hamil-
ton, Ontario.
"If the airline's 80 to 90 per-
cent load factors on its cur-
rent Toronto/Nassau service
are any indication of what we
can expect, The Bahamas can
look forward to healthy book-
ings on this new route, pro-
vided the services perform up
to expectations," he said.


New


AIDS infections


THE rate of new AIDS infec- ment and monitoring will require children who have been orphaned
tions is once again on the increase, increased contributions to the as a result of HIV/AIDS.
Dr Perry Gomez has revealed. AIDS Foundation. Kerzner International, a major
Dr Gomez, director of the Pledging continued commit- partner sponsor of The Red Rib-
National AIDS Programme, urged ment to the fight against AIDS, bon Ball for the past seven years,
Colinalmperial Insurance and Montgomery Braithwaite, presi- was also represented at the press
partner sponsors of the Red Rib- dent of Colinalmperial, said over conference.
bon Ball to continue raising funds the past 13 years the Red Ribbon Ed Fields, senior vice-president
for the cause of HIV/AIDS pre- Ball has raised more than $600,000 of public affairs for Kerzner Inter-
vention and awareness. for The AIDS Foundation. national, presented the AIDS
Speaking at a press conference "Although we are very success- Foundation with a cheque for
to promote Colinalmperial's ful it cannot happen without the $25,000 and spoke to the power
upcoming ball, Dr Gomez said support of our community in gen- of partnering in the fight against
new HIV infections had declined eral. For those individuals who AIDS.
from 650 in 1990 to 250 in 2004, have not yet got your tickets for "One thing has come out of this
but seem to be on the rise again the ball I certainly invite you to whole exercise over the last seven
with 298 new infections in 2006 do so," Mr Braithwaite said. years and that is with partnerships
and 155 new infections to the end This year's Red Ribbon Ball, things can get better," Mr Fields
of June this year. set for Saturday, November 17, at said, expressing the hope
"The emphasis must be on pre- the Atlantis Grand Ballroom, is that Kerzner's donation would
vention," Dr Gomez said, noting expected to raise a total of $50,000 assist the foundation in
that heightened awareness and to help the AIDS Foundation of HIV/AIDS awareness/prevention
prevention efforts, inflation and The Bahamas continue its latest and the purchase of the children's
the high cost of long-term treat- initiative to provide a home for home.


*I S


Rise in cost of crude oil


could push up gas prices


* By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net
INTERNATIONAL
reports indicate that the soar-
ing prices of crude oil may
lead to sharp increases in gas
prices over the next few
months spelling bad news
for motorists in the Bahamas.
Brent crude oil prices
reached new heights at $97 a
barrel on Tuesday following
bombings in Afghanistan and
an attack on a Yemeni oil


pipeline, it was reported.
Severe weather forecasts
for the North Sea, expecta-
tions that domestic crlde
supplies fell last week aiid
the weak dollar all c6di-
tributed to the latest move
upward, the Associated Press
reported yesterday.
Analysts at home are spec-
ulating that this recent hike
in crude oil prices will con-
tribute to increased fuel
charges at local gas stations.
"The (gas) prices here are
going to rise, more than like-


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Sunday School for all ages
Adult Education
Worship Ser-ice
Sprnish Service ... .
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ly. There's no indication of
prices going down, going
under four dollars, anytime
soon," Jason Johnsdn, a price
'controller at the governmen-
t's Consumer Affairs Divi-
sion told The Tribune yester-
day.
He said that up to press
time yesterday fuel prices in
The Bahamas stood at:
$4.51 a gallon (gasoline)
$3.95 a gallon (diesel) at Esso
stations
$4.30 a gallon (gasoline)
$3.75 a gallon (diesel) at Tex-
aco stations
$4.36 a gallon (gasoline)
$3.86 a gallon (diesel) at
Shell stations
Mr Johnson remarked that
he had never seen fuel prices
rocket as high as they have
for the year so far.
He said he also expects
that when the nation's fuel
providers submit their
reports to Consumer Affairs
in the coming weeks, they
will ask for a price increase.
Attempts were made to get
a comment from Minister of
State for Utilities Phenton
Neymour, but he was in Cab-
inet yesterday and could not
be reached up to press time.



TROPICfA~L


RASHAD ROLE, the
Bahamas' Junior Minister of
Tourism, represented the coun-
try impressively at the 30th
Caribbean Tourism Conference
in Puerto Rico bringing home
a third place finish in the Youth
Congress competition.
Rashad, who is a 16-year-old
student of Doris Johnson Senior
High School, was awarded a
personal computer and a $200
cheque at this year's Youth
Congress, which is organised by
the Caribbean Tourism Organi-
sation (CTO) and sponsored bye
Travel & Leisure Magazine.
Myfanwy Leggatt, of the Cay-
man Brac High School in the Cayman Islands placed second,
while Emerald Williams, of the Basseterre High School in St
Kitts won first place.
Rashad, who has ambitions of becoming a lawyer, is known
for strong showings in speech and debate competitions. ,
He was the winner of the prized "Most Outstanding Speak-
er" award in the Ministry of Education's 2006 National High
School Debate.
He was also the third place finisher in the 2007 Texaco
Road Safety Debating Competition.
In Puerto Rico, Rashad competed against 17 other high
school students.
They were challenged to discuss health and wellness
tourism and to suggest ways to increase intra-regional trav-
el.
In addition, they debated a mystery topic, which focused on
what was learnt at CTC-30.










MOIOLEY OR MEN


are proud to present their





in aid of

The Bahamas

Humane Society


4
on ,"
Tuesday +
27th November, 2007

at the

British Colonial Hilton
12 noon Cocktails
1 p.m. Luncheon/Show

Valet Parking Available

Donation Tickets at Cole's of Nassau
$60.00 per person on Parliament Street
Tel: 322-8393, 328-7157


are on the increase


WEDNESDAY, NOVEMBER 7, 2007, PAGE 3


THE TRIBUNE








PAGE 4, WEDNESDAY, NOVEMBER 7, 2007


THE TRIBUNE


I EITRIALETE S T HEEITOR


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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

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

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


In China, better rich than red


THE VIEW across the river at the sky-
scrapers of Pudong, where only muddy fields
had existed 20 years ago, or the sight of jolly
crowds of Chinese tourists carousing in the
impossibly quaint streets of Lijiang in the
hills of Yunnan, called to mind the once-star-
tlingly revolutionary slogan that changed Chi-
na: "It doesn't matter the colour of the cat as
long as it catches mice."
The phrase, attributed to Deng Xiaoping,
was revolutionary because it directly contra-
dicted Mao Zedong's dictum "better red than
expert." The old devil Mao had unleashed
countless ideologically driven campaigns that
had brought China to its knees. Being red
was what was important, not whether you
knew anything.. ,
What.Deng did with his cat analogy was to
reel back ideology in favour of practicality, to
take human nature as he found it rather than
trying to create a perfect socialist man, cul-
minating in another of his aphorisms: "To
get rich is glorious "
And many Chinese have done just that.
According to press reports, China now has
106 billionaires, second only to the United
States. There were none in 2002. During the
recent party co hgress, the Chinese press and
television repeatedlyclaimedl that China had
the wold's third rgest economy, after the
United StatOs and Japan. Twenty years ago it
ranked 29th.
'Before he .caine to paramount power 30
years ago, Den had been purged twice for
being an "unrelin capitalist roader."
Today; *b ,I_,,e tO say that's just what
he was. "Buildsoaialim with Chinese char-
acteristics," Deng said. But it is hard to see
'where the socialism fits in anymore, now that
a market economy is in force. Gone are the
blue-suited masses who had to kow-tow to
"Mao Thought" in an Orwellian state.
Income is certainly not equally distributed.
The glitz and glamour of the new Shanghai
sharply contrast with ox-drawn wooden plows
in the countryside. ,
If anything, socialism means the control
of the Chinese Communist Party. Deng, no
democrat, feared China might disintegrate
as did Mikhail Gorbachev's Soviet Union ,
even though Deng recognized, even before
Gorbachev did, that communism was imprac-
ticaL But he equated democracy protests with
chaos, and he had seen enough of that in the
Cultural Revolution. "Our people have gone
through a decade of suffering," he said, and


I
t; -a-----.-.-.- __ .


ILUL ft


"cannot afford further chaos." Deng may
have said that "socialism and a market econ-
omy are not incompatible," but he also said
"socialism does not mean shared power."
The rising political expectations that fol-
lowed Deng's economic and social'reforms
were squashed in Tiananmen Square 18 years
ago. And any perceived challenge to state
power is just as ruthlessly suppressed by
Deng's successors. But for all of that, the last
20 years have been the best China has had in
the last couple of centuries. China's rocket to
the moon seemed timed to crown last mon-
th's party congress, and its plans for the
Olympic games seem like the preparations of
a debutante to celebrate her coming-out par-
ty.
Yet China's leaders seem as desperate to
keep the tag of socialism attached to their
society as American politicians are to avoid
the socialist label when they discuss plans
for national heathcare and the'like.
It was unavoidable in a country so huge
that China's problems would be outsized too.
Extreme pollution stalks its cities and rav-
ages the countryside. Rapid changes are
unsettling society, lack of regulation is hurt-
ing its exports, and its demand for com-
modities to fuel its driven economy is affect-
ing the markets of the world.
An interesting phenomenon is China's
efforts to virtually acquire Africa. Chinese
interest in Africa goes back to Zhou Enlai's
efforts in the 1950s. But recent investments in
a continent that so much of the rest of the
world has written off as hopeless has little
to do with ideology, and everything to do
with business.
China has no interest in Africa's politics, it
was explained to me by a Chinese academic.
What China wants is Africa's commodities
and hopes to enter into a mutually beneficial
relationship with Africa to get them.
Chinese wonder at the Bush administra-
tion's zeal to promote democracy, even by
force prompting a Chinese friend to say
that there were only four ideology-driven
countries left in the world: Cuba, North
Korea, perhaps Iran, and the United States.
Desire for a more representational form of
government may still beat in China's breast,
but for the moment China's energies are con-
centrated on catching mice.
(This article was written by H.D.S.
Greenway of The Boston Globe c. 2007).


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18 Cube
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21 Cube
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Dealing with




problems in


justice s


EDITOR, The Tribune.
I PRESUME that the sta-
tistics shown in The Tribune
of October 29, 2007, on bail
granted between 2001-2007
are official?
Bail is granted to those
charged with murder, rape
and armed robbery under
strict conditions, however
what is not shown in these sta-
tistics is how many persons
obtained bail as a result of the
process of applying for bail as
a result of being incarcerated
for more than five years and
appealing to the Supreme
Court.
Taking these statistics you
conclude that the big rise in
the grants of bail in 2004-2005-
2006 and 2007 are a direct
result of persons being held
at Fox Hill on murder-rape
and armed robbery occurring
in the previous five years so
in 2000-2001-2002 (The FNM
were Government in that peri-
od).
Who shot John politically is
not going to resolve this annu-
ally growing problem.
Last week we heard for the
first time that someone was
alleging that there is a consti-
tutional limit on the number
of Supreme Court Justices -
read Chapter VII part (I) arti-
cle (2) The Justices of the
Supreme Court shall be The
Chief Justice and such num-
ber of other Justices as may be
prescribed by Parliament -
so Parliament controls the


number justices and there are
no limitations so Mr Ingra-
ham if our system needs 20
justices hire them, no more
excuses and laying the blame
where it isn't.
The justice system has to
have a "termed-system" built
into it...so many weeks after
a person is charged, their cas-
es will be heard 21 days after
sentencing to appeal 26
weeks after the appeal has to
be heard, etc, etc. Is it so dif-
ficult for an Attorney Gener-
al to understand a simple
management matter as this?
A warning to parents -
guardians, etc, know where
your children are going this
Halloween, there are people
out there wanting to injure
your children and rob them.
Police community police
you have the transportation
so there are no excuses get out
in the communities and patrol
throughout this week 24/7.
J. WILLIAMS,
Nassau,
October 29, 2007.
(At one time no one
charged with murder could
get bail. But in those days
cases of murder were disposed
of within a court session, and
the court calendar was
cleared However, crimes -


:em


especially murder have
increased and the courts have
not been able to keep up. Cas-
es are piling up, and, until,
now nothing has been done
to relieve the situation.
(As the case load worsened
it was decided that no one,
including those accused of
murder, could be held in
prison for more than five
years. Five years then became
two years and so today we
have about 114 persons
accused of murder pre-
sumably jobless walking
our streets on bail.
(However, it has just been
drawn to our attention that
some of these persons are not
even being held for two years.
On October 30, a person
accused of a most brutal mur-
der in broad daylight and
before witnesses, was released
on bail by the Supreme Court.
The murder of which he was
accused was committed on
August 19 last year. Today
the young children and par-
ents of the victim cower in
fear behind closed doors. This
is not right. This is not fair to
this family, nor is it fair to
the community. If we have
justices on the bench who are
so insensitive to people's secu-
rity, then legislators will have
to give urgent attention to
limiting the discretion
allowed the Supreme Court
in granting bail.
(In this particular case the
public is owed an explana-
tion. Ed).


Congestion after


traffic accidents


EDITOR, The Tribune.
HAVE you noticed that when there is a seri-
ous traffic accident, although there are many
police officers on the scene, absolutely none of
them seems interested in the traffic snarl and
congestion that results.
Place Marathon Road today, Thursday,
October 25, 2007 pm....a motor cyclist seems to
have been involved in a serious accident, so
Marathon was detoured from the first junc-
tion into Marathon Mall on the eastern side to
the first junction coming from Marathon traf-
fic light.
Enjoy motorists because traffic police are


not interested in you, they detour the traffic
and walk as far away from the congestion that
they can, or so it seems.
Not because of the seriousness of the acci-
dent, but there were at least two police stand-
ing around doing absolutely nothing, who
should have been detailed by the Traffic Offi-
cer (in khaki) to Traffic Control duty, but nev-
er.
Sorry we have so much to go as to traffic
control and security control.
J. MOORE,
Nassau,
October 25, 2007.


EDITOR, The Tribune.
YET again the Ministry of
Maritime Affairs and Labour
have the whole labour scene
wrong they call a seminar
and don't invite the majority
of the employed who are not
unionised and questionably
give substance and credence
to the minority, the trade
unions.
How many people are
actually fully paid-up mem-
ber of a union?
What happens in labour
relations is very simple if
you have numbers you can
bring considerable pressure
on the sitting government
through removal of your
labour or demonstrations
totally different for those in
the private sector who are
not unionised and therefore
the Government basically
disregards them as unessen-
tial.
A classical case is that of
the group of retirees from an
European Financial Services
Trust Company who have
been fighting for their rights
arising out of the removal of
their retirement benefits by
their employer. The Ministry
of Labour has no interest as
those people have no impact


on politics so who cares
about them?
Minister Foulkes, you are
making a serious mistake for-
getting the majority of the
non-unionised, honest-to-god
employees as if they have no
constitutional rights.
It is these employees the
government should be
embracing as examples of
good employees who negoti-
ate and work hard and are
extremely loyal to their
employers.
When last did you hear of a
non-union strike or removal
of labour from a work force
that is not unionised?
Kerzner casino employees
- the highest law in the land
is the constitution by
refusing to hear the applica-
tion of casino employees you
as the minister in the gov-
ernment you participate in is
removing the solemn right of
associationship a denial
which is in violation and con-
tempt of The Constitution -
I thought there was a matter
of TRUST in the Ingraham
Government?
T. HANNA
Nassau,
October 22, 2007.


PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public ishereby advised that I, CHARLES ALEXANDER
LUf3 of the Western District in the Island of New Providence,
Bahamas Inted t~, change my name to CHARLES
AIf there are any objections to this
change of name by Deed Poll, you may write such objections
to the Chief Passport Officer, P.O.Box N-792, Nassau, Bahamas
no later than thirty (30) days after the date of publication of this
notice. ., ,. ,,..


Ministry has the


whole labour


scene wrong


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WEDNESDAY, NOVEMBER 7, 2007, PAGE 5


LOA6 NW'


In brief

Coroner's Inquest
orders restudy
Of Woolmer
stomach samples

KINGSTON, Jamaica
TOXICOLOGY samples
from the stomach of Pak-
istan coach Bob Woolmer
will be re-examined
because experts disagree
on whether poisoning was
a factor in his death at the
Cricket World Cup in
March, a coroner presiding-
over an inquest said Mon-
day, according to Associat-
ed Press.
d A British expert who
analyzed toxicology tests
testified at the inquest last
week that no traces of a
potentially deadly pesticide
was found in the samples,
contradicting Jamaica's
government pathologist,
Dr. Ere Sheshiah, who
insisted the coach had been
poisoned by the pesticide
cypermethrin and stran-
gled.
Sheshiah's findings have
been criticized by foreign
doctors who concluded
Woolmer died from natural
causes, most likely heart
disease. Woolmer, 58, was
found unconscious in his
Kingston hotel room on
March 18, a day after his
Pakistan team was elimi-
nated from the Cricket
World Cup by Ireland.
Coroner Patrick Murphy
consented Monday for fur-
ther tests to be conducted
on the samples. The addi-
tional testing was request-
ed by the lead investigator,
Deputy Commissioner of
. Police Mark Shields, who
said arrangements are
being made for the samples
to be retrieved from Lon-
don as well as Jamaica's
government forensic lab.
The re-examination and
further analysis of the sam-
ples is to be done at the
University of the West
Indies in Jamaica. Murphy
ordered that the retesting
be completed by Nov. 12.
'. In testimony at the
inquest, British forensic
specialist John Slaughter
said urine and blood sam-
ples showed no sign of poi-
sonous substances.

Storm survivors
In Haiti say
government has.
abandoned them
S PORT-AU-PRINCE, Haiti
RESIDENTS of a notorious
Haitian slum lashed out at local
authorities Monday for aban-
doning them in the recovery
from Tropical Storm Noel, and
said U.N. troops and Haitian
officials failed to protect one
shelter from marauding gangs,
according to Associated Press.
Protesters blocked roads and
burned tires on the outskirts
of Cite Soleil to demand the
government clean up after the
storm's heavy rains triggered
flooding that killed 148 people
in the Caribbean and left tens
S of thousands homeless.
*- Evacuees who spent four
days in the overcrowded
National School under U.N.
S protection said international
troops abandoned the school
Friday, leaving them defense-
less against outside criminals
who robbed them in the dead
of night.
U.N. spokesmen said the
shelter was turned over to
... Haitian authorities shortly after
sundown, and that Friday's
incident was a fight over food
by evacuees who had not been
S fed all day.
But evacuees said Haitian
authorities never arrived, that
they were left alone in the
school without a generator and
that the attackers came from
outside the shelter. A spokes-
woman for the Haitian civil


protection department did not
return numerous phone mes-
sages Monday.
"It was pitch black, and a
bunch of men ran in. I was
lucky. I just took my daughter
and ran out," said Sheila Jean,
29, who said the men stole a
blanket she had been given by
soldiers.

FR S. IN ILW S V

,-opca ExtepuW^^ matovs^


CONTROVERSY AS BIBLE BANNED FROM ATHLETES' VILLAGE


Olympics
THE Bahamas was last night urged to boycott the "I am calling
Olympic Games in Beijing next year after the Bible was Olympics.
yesterday listed among "forbidden" objects in the ath- "As a small na
letes' village. principles and st
Mr Peter T Carey, manager of BAIC's business ser- Mr Carey, a Ci
vices department, called for the Bahamas to stand up the Chinese stai
for its Christian principles by withdrawing from the denied people's
Games. His call came
"I am not a fundamentalist Christian, but I think list of prohibited
this is something that goes against the rights of people," athletes will stay
Mr Carey told The Tribune. To the surpri


THE annual Bahamas
Humane Society Thanksgiving
Ball will take place this Satur-
day, November 10 at the British
Colonial Hilton, organizers
announced.
They said the ball, which is
being held under the patronage
of Governor General Arthur
Hanna, raises funds for the
"necessary and compassionate"
work undertaken by the
Bahamas Humane Society.
This year, the event will fea-
ture a five course gourmet meal
accompanied by the music of
the Lou Adams Orchestra and
Modern Vintage.
Graham Beck wines and Fiji
water donated by Bristol Cel-
lars will accompany the meal.
"An exciting in-house raffle
features a grand prize of two
first class tickets to Paris donat-


ed by American Eagle/Ameri-
can Airlines, together with a
five night stay at the Paris
Hilton donated by the British
Colonial. "Additional trips to
be won include accommoda-
tions at the Four Seasons Hotel
in Exuma; a five night stay at
Breezes, Jamaica; the Rock
House, Harbour Island, and a
three night stay at the Cove,
Atlantis.
Corporate sponsors of the
fundraiser include: the Bank of
the Bahamas, Ansbacher Bank,
S G Hambros Bank and Royal
Bank of Canada. The raffle
prizes include donations from
Bahama Hand Prints, Bacardi,
Graycliff, Gucci, John Bull,
Lucianos Restaurant, Versace
and the Sports Centre.
There will also be a silent
auction featuring tickets to


boycott call


g for the Bahamas to boycott the
nation, we should exercise our Christian
and firm for our beliefs."
atholic, stressed that he was opposed to
nd on the Bible primarily, because it
rights.
after Olympics organizers published a
t objects in the Olympic Village where
.se of many, the Bible was included
se of many, the Bible was included


Wimbledon for 2008, designer
jewellery from John Bull, and a
day of golf at the Ocean Club.


Furniture store rebranded


* BY DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net
FREEPORT After 10 years in business, the
Furniture Outlet has officially changed its name
to Furniture Plus, and has launched an interactive
website for customers.
The re-branding has allowed Furniture Plus to
expand nationally outside of New Providence to
the Family Island with a second location in Grand
Bahama.
Scott Ferguson, general manager of Furniture
Plus Grand Bahama, is excited about the re-
branding. "There has been a lot of work to get to
this day, said Mr Ferguson. The store has been
repainted a bright red, all our signs have been
changed and we've decorated for the holidays, our
staff has been fantastic in helping us get to this
point."
Mr Ferguson and his wife, Victoria, opened
the Furniture Outlet in October 1997 in the Sham-
rock Building. The couple began their furniture
careers in Grand Bahama in 1995 when they pur-
chased the Value Line, which was later relocated
and named Furniture Outlet.
The Fergusons have more than 50 years of
combined experience in the furniture industry.
A number of persons were invited to the official
re-branding and 10th anniversary of Furniture
Outlet on Saturday, which marked a special day
for the Ferguson and d'Arville families as their
two companies came together to create a nation-
al brand for the Bahamas.
Troy d'Arville opened Furniture Plus in 1988
with his father. Now he and his wife, Krystynia
Lee d'Arville, run and operate one of the leading
furniture, appliance and electronics stores in Nas-


EXCITED: Pictured (left to right) are Scott Ferguson,
MPKenneth Russell and Troy d'Arville, owner of Fur-
niture Plus in New Providence.

sau, located in the Town Centre Mall. Mr Fer-
guson said the re-branding of the store in Grand
Bahama means that residents will now have
access to additional furniture lines, appliances
and even electronics.
He said that Furniture Plus' interactive website
(www.furnitureplus.com) allows customers.to
apply online for credit, view products, ask ques-
tions, plus receive email notifications about sales
events, and even apply on line for career oppor-
tunities. Sarah Kirkby of Barefoot Marketing
said that in celebration of the merger, Furniture
Plus will give away more than $50,000 in gifts and
prizes, including more than $10,000 in $100 gift
certificates.
Krystynia d'Arville, co-owner and marketing
director for Furniture Plus Nassau, said they are
very pleased to have a sister store in Grand
Bahama. "Troy and I are thrilled ... we like the
Ferguson's are seeing the growth on this island
and are only expect greater growth," she said.


among prohibited objects for "security reasons", with
athletes banned from bearing any kind of religious
symbol at Olympic facilities.
A Spanish newspaper cited the move as one of many
"signs of censure and intolerance" towards religious
objects, particularly those used by Christians in China.
The Games, due to open in August next year, are
expected to. one of the best Olympics ever.
The Bahamas, with several star athletes, including the
phenomenal high-jumper Donald Thomas, is expected
to feature prominently on track and field.


Bahamas Humane


Society is getting


ready for a baH


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Fax (242) 377-2193
Nassau, Bahamas
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Prepare weekly productivity and efficiency report
Report to management on Project.

Fax resumes to: 242-377-6351
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WEDNESDAY, NOVEMBER 7, 2007, PAGE 5


TRIBUNE


















What's at stake in Freeport


T HE City of
Freeport is one ot
the world's last
company towns.
And a group of Bahamian
"licensees" are fighting to bring
accountability and transparen-
cy to the Port Authority a
private franchise with enormous
value for the country as a whole.
Freeport's origins go back to
1955, when the government
leased 80 square miles of wilder-
ness for next to nothing to an
American named Wallace
Groves who had been running a
lumber operation on the island.
In return, Groves undertook
to turn uninhabited Hawksbill
Creek into a deep-water port


"The Hay-
ward and St
George fani-
lies are fight-
ing among
themselves
over the
spoils." -
Chris Lowe

and carve a new township out of
the pine barren. That land grant
was later increased to about 200
square miles, and the compre-
hensive tax exemptions extend-
ed until 2054.
The Hawksbill Creek Agree-
ment between the government
and Groves gave the new Grand
Bahama Port Authority the
right to plan, develop and
administer the city of Freeport,
as well as to license persons and
businesses to operate there. The
agreement also had a safety
clause that would return the
land to the government if the
development failed.
But since 1978 when Groves
sold out, Freeport's land, and
most of the important compa-
ni&es, have been essthifthtly
t6oned by two familieSP fhe
Hayward's and tihe"St George's.


They hold all of the assets in a
clutch of offshore companies,
which are subject to no public
oversight.
Sir Jack Hayward's father, a
British millionaire, had acquired
a 25 per cent share of the Port
Authority in 1959. And Sir Jack
.later hired an expatriate lawyer
named Edward St George as his
right-hand man. St George
eventually became Freeport's
uncrowned king and fixer.
In addition to land sales in
the Port area, the two families
derive income from business
license fees and service charges
(a form of real estate tax), as
well, as revenue from a wholly
owned water company and
shared revenue from the har-
bour, a major shipyard, the air-
port, the power company, the
waste management company,
Port Lucaya (a waterside shop-
ping centre) and a few other
'assets'.
To give an approximate idea
of the worth of these assets, the
sale of 50 per cent of just some
of them recently raised $80 mil-
lion. Of course, continuing
maintenance and major expen-
ditures are required from time
to time for infrastructure but
this can be performed (or not) at
the whim of the families.
So are there any constraints
as to what these families can do?
Apparently not.
As a private company the
books of the Port Authority are
closed, and since the govern-
ment derives substantial rev-
enue from Freeport it seldom
rocks the boat. Anywhere else
in the world there would be an
elected mayor and council, pos-
sibly a city manager, and public
scrutiny of revenues and expen-
ditures. But not so in Freeport,
despite the fact that it has a pop-
ulation of some 50,000 (includ-
ing outlying settlements).
And the citizens who are
most affected by the actions of
the Port owners have been
almost mute. Only once in the
50-odd years that the GBPA has
been in existence has there been
a backlash, and that was in the
so-called 'licensees revolt' of the
late 1960s, which was aimed
mainly at the gbyernment's
restrictive immigration policies.
Over the last 30 years Hayward


and St George have successfully
"managed" relations with suc-
cessive governments to avoid
controversy.
Sir Jack is now in his 80s.
And after St George died in
2004 the two ruling families
became locked in a bitter strug-
gle for control of their cash cow
the GBPA and its associated
companies. A rough estimate of
the value of these companies is
said to be in the region of $200
million, which should give
Freeporters something to pon-
der next time they have to pay
their light bill.
Now, the unseemly chaos at
the Port has spurred a group of
some 100 Freeport licensees to
pursue legal action against both
the Hayward and St George
families.
They have filed actions seek-
ing discovery of information and
asking for an independent pub-
lic trustee (rather than a receiv-
er) to be appointed to run the
Port. The Chief Justice is expect-
ed to decide on a court date lat-
er this week.
"The Hayward and St
George families are fighting
amongst themselves over the
spoils," explained Freeport
Chamber of Commerce chief
Chris Lowe. "The licensees are
questioning the very validity of
the families holding those assets.
For the sake of posterity all of
this needs to be sorted out and
Freeport needs some straight-
up municipal government. No-
one knew anything about the
inner workings of the Port until
the shareholder dispute arose
after St George died."

insiders say that all this cre-
ates a huge dilemma for
the government, which does not
want to be seen as. intervening
heavy-handedly in private enter-
prise, abrogating the Hawksbill
, Creek Agreement or pre-empt-
ing the courts. Yet Freeport's


franchise is so important to the
welfare of Grand Bahama and
the country as a whole that it is
very difficult for the government
to take a completely dispassion-
ate approach.
The vitriolic and very public
legal and personal dispute
between the ruling families has
led to a deterioration of
Freeport's general business cli-
mate.
And observers say that none
of the younger members of
either family has the interest or
the capacity to lead Freeport
into the future. A general view
among insiders is that the Hay-
wards and St Georges have
squandered too much goodwill
and both should sell out in the
interest of the nation.
As Prime Minister Hubert
Ingraham put it, "Economic
development in Freeport
requires collaboration between
the public and private sectors,
most particularly with the Grand
Bahama Port Authority.
"(We) look forward to an ear-
ly settlement of matters which
now serve to distract the princi-
pals of the Port Authority from
the business of the Port Author-
ity and hence the business and
further development and growth
of Freeport."
Those matters clearly refer
to the ongoing dispute between
the ruling families..
And it is indeed a high-stakes
game. Not only is Freeport the
Bahamas' second city and the
only planned community in the
country, with the potential to
accommodate a population of
half a million. But there are
major industrial investors on the
island who could make or break
the Bahamian economy.
The key example is Hutchi-
son Whampoa, a Chinese con-
glomerate that acquired some
of the Port's assets a decade ago
and now operates a major con-
tainer hub at Freeport as well


LUGHf lSI


as the Our 1 .ucaya resort com-
plex.
And growing interest by
global shippers in Freeport's
geographic and tax advantages
has spurred development
of a new 750-acre entrepot
adjacent to the container termi-
nal.
Associated Grocers of
Florida recently
opened an '$8 million warehouse
there, with plans for major
expansions in a joint venture
with the Chinese investment
trust, CITIC. Should this mate-
rialize (sources say the deal has
already been signed and is
awaiting government approval),
Grand Bahama could become
one of the largest goods distrib-
ution hubs in the world.
In fact, Hutchison is one of
two potential buyers of the Port
Authority and its assets.
The other is the London-
based Fleming Family & Part-
ners, a firm which descends
from famed Scottish financier
Robert Fleming and portrays
itself as one of the leading
wealth manager for the world's
richest families including the
Cayzer shipping dynasty. James
Bond creator Ian Fleming (who
died in 1964) was a prominent
member of the family.
Hutchison's bid has problems
because critics say it is seeking
to establish a western hemi-
sphere shipping hegemony as a
proxy of the Chinese govern-
ment, and looks upon Freeport
simply as a "50-year land bank
close to the eastern seaboard of
the United States."
It is reported that a top
Hutchison delegation met with
Prime Minister Ingraham with-
in the last several weeks to dis-
cuss the sale of Freeport.
The Fleming Group consid-
ered investing in Freeport dur-
ing the early 1990s, but after due
diligence backed off because of
the Port's lack of transparency
and accountability.
Some argue that Fleming is
now a proxy for the Hayward
family, but insiders say they are
too big to act as a front. And
Roddie Fleming, the group's
chairman, says his vision for
Freeport would create "billions
of dollars" in added value by


What do you think?
Send comments to
larry@tribunemedia.net
Or visit:
www.bahamapundit.com


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SCOTIABANK BOOSTS JUNKANOO GROUPS


SCOTIABANK has made substantial financial dona-
tions to several junkanoo groups this year, in what the
company says is an effort to further the development
of Bahamian art and culture. A representative from
each of the groups accepted the contributions from
jootiabank's seino mianagei tuo marketing and pub-
lic relations Debra Wood and senior manager for cred-
it Eric Albury. Wishing the groups all the best in the
upcoming Boxing Day and New Year's Day Parades,
Mrs Wood said, "Scotiabank is extremely proud and


grateful to be able to demonstrate our commitment to
the social and cultural development of the Bahamas in
this very tangible way." Pictured, standing in the back
row, left to right, are: Percy "Vola" Francis (Saxons),
Andrew Burrows (One Family), and Brian Adderley
(Roots). Standing in the front row, left to right, are: Mrs
Wood, Gloria Sawyer (Conquerors for Christ), Mr
Albury, Eric Knowles (Prodigal Sons) and Mark Bast-
ian (One Family). Scotiabank also presented cheques
to Music Makers and Z-Bandits.


MEMBERS of the cultural communi-
ty and the College of the Bahamas
gathered at Grace and Peace Wes-
leyan Church on Monday evening for
a thanksgiving service for the late


Pauline Glasby. Tributes and reflec-
tions were brought by Mrs Janyne
Hodder, president of the College of
the Bahamas, as well as by Dr Keva
Bethel. There were choral presenta-


tions by the Renaissance Singers,
which Mrs Glasby directed, and the
Choir of Grace and Peace of the Wes-
leyan Church. Mrs Glasby came to
the Bahamas in 1968.


Giving thanks for Pauline Glasby


partnering with both licencees
and the government.
All of which leads to the
obvious conclusion that the days
of obscure dynastic rule in
Freeport are almost over, and
we will soon have an opportu-
nity to recreate the Port Author-
ity in a way that will enable it to
live up to its early promise, and
perhaps become the leading
engine of Bahamian economic
development for decades to
come.
The big question is, what kind
of deal will be crafted?
And will it be an open and
transparent agreement that will
benefit the Bahamian people
rather than just sectoral or polit-
ical interests.
One long-time resident says it


"Economic
development
in Freeport
requires col-
laboration
between the
public and pri-
vate sector..." -
Hubert Ingraham


is time to discard the 19th cen-
tury concept of a private com-
pany ruling vast areas of land
from afar and instead allow the
management and wealth of the
second city of The Bahamas to
be owned and controlled by the
people who live there and who,
historically, have made it what it
is today.
And insiders expect the situ-
ation to be resolved over the
next several months, with the
active engagement of the Ingra-
ham government to bring all
parties to the table.


THE TRIB


PAGE 6, WEDNESDAY, NOVEMBER 7, 2007


or:, aw


-~ksc~'









.~ TRIBUNE WEDNESDAY, NOVEMBER 7,2007, PAGE 7


LOCAL0NEWS'I


Share

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If so, call us on 322-1986
and share your story.


Bill to Amend the


Juries Act is passed


0 In brief

US appeals
dismissal of
case against
Cuban militant
Luis Posada
* El PASO, Texas
FEDERAL prosecutors
are appealing the dismissal
of an immigration fraud case
against anti-Castro Cuban
militant Luis Posada Car-
riles, according to Associated
Press.
The government has filed
a 64-page appeal asking the
5th Circuit Court of Appeals
in New Orleans to overrule
an El Paso federal district
judge's ruling earlier this
year that that case should be
dismissed in part because of
problems with an immigra-
tion interview of Posada.
Posada, who faces a civil
deportation order, had been
seeking to become a natu-
ralized citizen when federal
prosecutors allege he lied to
investigators.
The aging militant has
been living Miami since his
release from federal custody
in May.


the debate on the Bill, Nation-
al Secarity-Minister Tommy
Turnquest said, "The purpose


of this Bill is straightforward
and clear. It is to amend this
critical area of the law to bring


Prime Minister's remarks about


Monday'


The following are the complete remarks by
Prime Minister Hubert Ingraham on the events
of Parliament's November 5 sitting, during
which the opposition expressed outrage that
PLP leader Perry Christie was not allowed to
respond to recent comments by the prime min-
ister:
|t he Opposition have sought to
T make a mountain out of a mole-
hill over this issue. I do not expect anything
different from them because they do not
accept the fact that they have lost the election.
They find every manner of excuse and they
wish to be obstructionists as was clearly
demonstrated this morning.
Minorities have great opportunities to put
forward their points of view and to have their
points of view considered. But minorities are
not to run the show. They are not to make the
decisions.
The opportunity was afforded this morning
for Mr Christie to make his case as to what-
ever argument he has. He chose not to do so.
He chose to only want to do so if it was done
when he wanted to do it and how he wanted to
do it and he didn't care about the views of the
majority in the House at the time.
Specifically, the rules of the House require
a member who is offended by a remark made
by another member to immediately challenge
that member and rise on a point of order or on
a point of personal privilege.
No such step was taken by either Mr


s Parliament sitting

Christie or any of his other members when the minutes together and talked about
House met and these remarks (were made) by other things. I didn't get the impression
me saying that they were failures in so far as was personally offended, in fact I thot
the judicial system was concerned, we both agreed that while he was resp
It couldn't have been that urgent from their for the mess of the judicial system,
point of view. persons who fa
They can't be that slow, they are vert smart ,. perform w
people. So, having not taken advantage of ers-bt
the opportunity which they had, they came ,,. charge
this morning. he v
We said there is a measure on the floor one
for debate. Desmond Bannister was going m a d
to speak for 20 minutes to half an hour, ap p
we would put the Bill to a vote and after me:
that we'd be happy to accommodate he
any points of view that the Opposi- .or
tion wished to make with respect to s l
their complaint. a
They chose not to accept that. re
This matter had become suddenly\ bi
urgent and immediate, notwithstanding it
that it wasn't urgent or immediate when
the House actually met. They all sat there
and participated. There was a back and forth '
between ourselves on the 22nd of October
And this whole question arose because Mr -
Christie just jumped to his feet while I was
speaking and started to speak in a loud voice
and I out-shouted him and since I had the
mike, what I was saying came across and his
didn't because the mike system is not capable
of carrying two people at the same time.
At no stage did he take exception to it. i -
He and I met on Wednesday. the
24th of October. and spent at least 45 A


THE House passed the gov-
ernment's Bill to Amend the
Juries Act Monday. The Bill
will now move on to the Sen-
ate.
The Bill seeks to decrease
the number of Supreme Court
jurors selected in a non-capital
case from 12 to nine.
The provision of the Bill
keeps the number of jurors
required in capital cases -
murder or treason at
12.
During his contribution'to


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PRESENTER: DR. MIKE BOWERS,
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November 7th 10th, 2007


OPENING CEREMONY
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WEDNESDAY, NOVEMBER 7, 2007, PAGE 7


.c TRIBUNE


"The purpose of this Bill is
straightforward and clear. It is to
amend this critical area of the law
to bring it in step with current
realities."

Tommy Turnquest


it in step with current reali-
ties."
He explained that the
Bahamas, with a population
of around 350,000 people, has
a correspondingly small jury
pool.
"This Bill, once passed,
should assist in the expeditious
empanelling of juries from this
limited pool, and consetuent-
ly improve the operations of
the criminal justice system,"
he said.
In moving the Bill for
debate, Minister of State for
Legal Affairs Desmond Ban-
nister pointed out that many
other countries in the region
have determined that the use
of smaller juries is more effi-
cient and will enhance the
administration of justice.
Laws in Trinidad and Toba-
go, St Vincent, Barbados and
Belize, he indicated, provide
for trial by juries comprised
of nine persons for all offences
except for murder and trea-
son.
Mr Bannister added that
Jamaica and the Cayman
Islands have gone further by
reducing the size of their juries
in most trials to seven except
in trials for murder and trea-
son, and in the Cayman
Islands, for money laundering
offences.
Emphasising that the
Bahamas is the only major
country in the region that
retains the 12 person jury for
all criminal trials before the
Supreme Court, Minister Ban-
nister said the Bill seeks to
amend the law in the Bahamas
so that its court system may
enjoy similar benefits as these
countries do.
No changes were made to
the Bill during its committal
stage.
The House is scheduled to
reconvene on Monday,
November 12, when debate
wil begin on Supplemental
Appropriation Bills tabled by
the government.








THE TRIBAL


PAGE 8, WEDNESDAY, NOVEMBER 7, 2007
LOCALNf


O In brief HOW A PINEAPPLE FESTIVAL UNITED TWO COMMUNITIES


Loggerhead
turtle nests
lag in 2007,
green and
leatherback
are up
WEST PALM BEACH,
Fla.______
THE number of logger-
liead turtle nests was sub-
stantially lower in 2007
tlian illn past years, accord-
ihg to preliminary num-
Ikers from scientists
,qlatewide, according to
Associated Press.
Scientists found 28,500
niests from 19 surveyed
beaches, down from
almostt 50.000 last year.
The number was so low
that this could be the low-
ist nesting year on record
for loggerheads, said Blair
Witherington, a research
scientist with the Florida
Fish and Wildlife Conser-
vation Commission. The
turtles' nesting numbers
have declined in at least
four of the past seven
years.
Green and leatherback
turtles, however, sur-
passed scientists' expecta-
tions and may have made
a record number of nests
this year on Florida's
Treasure Coast.
Scientists aren't sure
,hat's behind the low
numbers for loggerheads,
but they have some theo-
ties. Erik Martin, a biolo-
gist who monitors nesting,
said the answer could lie
in an unknown event that
happened 30 years ago
when today's nesting
females were hatchlings
-- something like a dis-
. ease or harmful algae
bloom that affected only
loggerheads.
A drop in nesting num-
,ersmay not correlate t: ;
a drop in population, said
Pete Quincy, a scientist
who monitors nesting for
kupiter Island. "Maybe
there is a biological cycle
timong these turtles that
wve know nothing about."
i Scientists have been
tracking nesting for about
00 years.
S This year, they counted
About 9,450 green turtle
Bests up from the pre-
"ious high of 7,180 in 2005
im- n addition to 517
featherback nests, up
Erom the previous high of
167 in 2001.
W*


Eleuthera



and Jensen



- building




bridges of



friendship


T HE Ministry of Touris-
m's Eleuthera Office
manager Jackie Gibson was
about the have the surprise of
her life.
When she organised the
pineapple festival in Gregory
Town, Eleuthera, she was con-
vinced it was the only one of its
kind.
But, two years later her col-
league Bridget Pierre King, who
at that time had tourism respon-
sibilities for the Treasure Coast
area of Florida, told her of a
pineapple festival in Jensen
Beach. "I was shocked," Ms
Gibson recalled. "I felt we were
the only people on planet Earth
who had a pineapple festival.
"I said 'Bridget you have to
get me the contact because I
need to know- what they are
doing so we can share ideas and
come up with something that is
unique'."
A few days later she con-
nected with Jensen Beach
Chamber of Commerce execu-
tive director Ron Rose, and the
rest is history in the making.
"We found that there were
so many similarities between
our little community and that
of Jensen Beach," said Ms Gib-
son. Then Prime Minister, Sir
Lynden Pindling, sanctioned an
exchlafge of proclamations
declaring Gregory Town and
Jensen Beach sister cities.
Last weekend, in celebration
of 20 years of sisterhood, a large
contingent from Eleuthera
including the Brilanders, the
Junkanoo Allstars, and the Min-
istry of Tourism seasoned the
Jensen Beach Pineapple Festi-
val with that spicy Bahamian
flavour. One outcome of the
relationship has been the estab-
lishment of the Authentic
Bahamian Marketplace at the
Jensen Festival featuring a wide
variety of products made in the
Bahamas. This year it was a hit,
organizers say.
"The Bahamian Marketplace
defines this event," said Mr
Rose. "It gives the festival a


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JUNKANOO through the streets of Jensen Beach was a hit at the Pineapple Festival there last
weekend.


. 'r.


. l

. ,
.,J ., .;...., ._
"' .


5 -,i ^ I


..AC M.
.. 8 '


THE Eleuthera Allstars shared junkanoo with.the Jensen Beach High School during last weekend's festival there.


theme; it gives it a feeling; and it
gives it some authenticity.
"When you think about it,
there have been a lot of pro-
motions about junkanoo, but
how many festivals here (in the
US) can boast that they have
had the real thing?"
Students of Jensen Beach
High School got a first hand
taste of the real thing.
Several members of the
Eleuthera Junkanoo Allstars
are themselves high schoolers.
Some were visiting America for
the first time. "They went into
Jensen High and gave a lesson
on Junkanoo," said Ms Gibson.
"They took in some drums,
whistles and horns and the chil-
dren got to know what
Junkanoo is.
"Only two in the class had
ever heard about junkanoo and
they still did not have a good
definition for it. Now they know
about junkanoo and Eleuthera
and the Bahamas."
The connection between


A -


"The Bahami-
an Market-
place defines
this event. It
gives the festi-
val a theme; it
,gives it a.feel-

CO .g gand it
O.).. gives it some
..-' .i authenticity."
'BAHAMA' Bob Camis of Bahamian Music Distributors pleases another
customer at the Jensen Beach Pineapple Festival. ,_


Eleuthera and Jensen Beach
goes back to the 1880s.
Research shows that farmers
from Eleuthera helped estab-


.; \ **

0 "_. .


o t



o0mo


ts111


S "' ...


lish the, pineapple industry in
Jensen Beach.
"What make this event grand
have been the great friendships
and a lot of teamwork," said Mr
Rose. "Jackie Gibson has been
an outstanding friend and a
great part of the team that
makes this event a great event.
"You can tell by the festival
goers' reaction that the contri-
bution of the Bahamas is cher-
ished. They were all dancing in
the streets behind the junkanoo
band and when the Brilanders
were performing. The people
are really happy with every-
thing. We wanted to have a cul-
turally oriented, family friendly
atmosphere. The Bahamian
Marketplace contributed to
that. You saw the families flock-
ing to get their hair braided.
The festival was a huge suc-
cess," said Mr Rose.
The sister city relationship
has gone beyond pineapple fes-
tivals, noted Ms Gibson. She
recalled the devastation in
Eleuthera caused by Hurricane.
Andrew.
"Jensen Beach came to our


aid," she said. "They sent over
plane loads of relief items.
. "They have been fabulous to
us. They know us by our names.
They told us they actually
missed us from last time."
A popular feature of the
Bahamian Marketplace was the
promotion of Bahamian music.
"We love of the Bahamas; we
love the people; and we love
the culture," said Janis Camis,
who, along with her husband,
'Bahama Bob, operate
Bahamian Music Distributors
from Fort Pierce, Florida.
"If it's not Bahamian it's not
happening," she said. "If you
could open my husband's chest
you would see inscribed on his
heart: 'made in the Bahamas'.
"I rarely listen to the music
from here (in the US). Our
radio is always on ZNS which is
the only station from Nassau
we can receive, and it's Bahami-
an.
Already patrons are looking
forward to the four-day Grego-
ry Town Pineapple Festival held
during the first weekend of
June.


JENSEN Beach Pineapple Festival patrons loin in the rush of J lhkanoimz
ing last weekend's Pineapple Festival.


- I

* I
A I


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Montrose Avenue

Phone:322-1722 Fax: 326-7452


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0 In brief

Mexico landslide

devastates remote

village amid

wider flooding
OSTUACAN, Mexico
RESCUE officials were
searching for more than a
dozen missing people Tuesday
after a landslide slammed into
a rain-swollen river, wiping out
a tiny hamlet in southern Mex-
ico, according to Associated
Press.
At least 16 people were
reported missing in the village,
the latest victims of wide-
spread flooding and heavy
rains across Mexico and Cen-
tral America. In Honduras,
authorities were evacuating
dozens of people on the
Atlantic coast and at least two
people drowned in floodwa-
ters, including a 2-year-old boy
swept away by a raging river.
Residents of San Juan Gri-
jalva said they were awakened
late Sunday by a rumbling roar
and the sound of rocks rolling
down from surrounding moun-
taintops.
"It was a roar, like a heli-
copter was passing overhead,"
recounted farmer Domingo
Sanchez, 21. "We didn't know
what was happening, and then
we went outside, and there
were cracks opening the earth.
We ran up the hill ... but soil
kept coming down on us."
For the next several hours,
Sanchez, his mother, his wife
and a cousin fought for their
lives in a valley where the only
salvation lay in getting to high-
er ground as the ground col-
lapsed around them. They
reached the hilltop just in time
to look across the valley and
see a landslide cover the home
of his grandparents. Sanchez
believes at least nine of his rel-
atives were buried.
A cousin, David Sanchez,
22, described the events he saw
from his house in a different
part of the village that once
was home to about 600 people.
David Sanchez described
two distinct waves the first
of which swept his mother
about 200 meters (yards)
downstream before he could
rescue her.
After climbing up a hillside
to safety, in a moment of calm
he mnd-three friends briefly
descended to rescue some pos-
sessions when the second wave
apparently the release of
water briefly dammed up by
.* the landslide swept down
the valley.
"It swept away everything,
trees, houses, everything,"
David Sanchez said.
Chiapas state Gov. Juan
- -.- Sabines, who visited the scene,
described one of the waves as a
"mini-tsunami" and noted
"this village practically disap-
peared."
Helicopters searched the
surrounding hills to rescue res-
"- idents who fled to higher
ground.
Chiapas officials and the
federal Interior Department
". placed the number of missing
at 16:
No bodies were immediately
found.


Members of Toastmasters





train youth parliamentarians


THE members of one
local Toastmasters club
joined the Ministry of Edu-
cation to hold a training
session for youth parlia-
mentarians.
Healing Communicators
Toastmasters Club 7178 is
a non-profit club, the stat-
ed mission of which is "to
provide a mutually sup-
portive and positive learn-
ing environment in which
every member has the
opportunity to develop
communication and lead-
ership skills that in turn
foster self-confidence and
personal growth".

Opportunity
The club said the train-
ing session allowed mem-
bers Wence Martin,
Ambrosine Huyler and
president Glennette Reck-
ley an opportunity-to speak-
on speech preparation and
practice; verbal and non-
verbal communication and
tips to public speaking
respectively.
According to the club,
the 41 youth parliamentar-
ians from throughout the
Bahamas thoroughly
enjoyed the session and at
the end of the evening
were given the opportunity


PICTURED SEATED are Ambrosine Huyler, club president Glennette Reckley, Ministry of Education senior youth officer Patty Miller, and Wence
Martin along with members of the Youth In Parliament.


to use the practical tips
offered through an election
which required those seek-


Bank launches new


saving promotion

FIRSTCARIBBEAN bank has the launched a new initiative
to reward Bahamians who make saving a priority.
The bank said in a statement that beginning yesterday, people
across the Bahamas have a brand new reason to save, with the
launch of "Save A Little, Win A lot" the Caribbean's newest sav-
ings promotion.
According to Sharon Brown, managing director for the Bahamas,
the sweepstakes is one of the bank's many first-for-customers ini-
tiatives, designed to reward customers who choose a wealth-build-
ing path.
"This is one of the most exciting initiatives we've ever launched
in the Bahamas. We're pleased to present current and soon-to-be
FirstCaribbean customers with this win-win offer an opportunity
to experience the benefits of saving, while having the chance to reap
additional financial rewards," she said.
With "Save A Little, Win A lot," new customers who open a prize
draw savings Account with $100 or more, are automatically entered
for a chance to win between $1,500 and $5,000 every month.
For every $100 on deposit on the day of the prize draws, cus-
tomers will receive an additional entry, increasing their chances of
winning the cash prize.
The promotion also features a grand prize draw of $20,000,
which will be paid to the winner in equal monthly installments.
The programme, being offered with accounts that provide tiered
interest rates above the Bank's current offering, runs until Febru-
ary 29, 2008.
"Save A Little, Win A lot" kicks off a series of upcoming First-
Caribbean initiatives created to encourage customers across the
Caribbean to engage in smart savings practices, said the bank in a
statement.


ing the offices of Speaker
of the-House and Deputy
Speaker to give impromptu
speeches.

Initiative
Youth in parliament is a
special initiative co-ordi-
nated by the Ministry of
Education that allows
young adults between the
ages of 17 and 25 to pub-
licly express their views on


current issues affecting the
country while learning
the policies and practices
of the House of Assem-
bly.
A special session will be
held for the youth parlia-
mentarians, each repre-
senting a constituency, to
deliver their speech pre-
sentations to a national
audience from the House
of Assembly.
"Club 7178 offers a
dynamic and educational


programme and boast of
being the most illustrious
and energized club in the
Toastmasters Division of
the Bahamas, catering to
persons of varying ages,
professions and social
backgrounds," said the
club in a statement.
Healing Communicators
Toastmasters Club 7178
meets every Tuesday at the
Cancer Society of the
Bahamas on East Terrance
Centerville at 6pm.


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WEDNESDAY, NOVEMBER 7, 2007, PAGE 9


4 THE TRIBUNE














Three Cubans Foues' former law firm is blamed for


FROM page one
by thie RBDF on Tuesday, short-
ly after IIpm Monday, three
('Cubian detainees housed at the
Dl)tention Centre successfully
executed an escape plan from
the base.
in their desperate attempt for
freedom, the men reportedly
scaled the chain-link barbed wire
fence surrounding the front of
the Detention Centre, officials
i cported.
The three men most likely
chose to scale the fence sur-
rounding the compound's front
entrance because there is no wall
behind it, as is the case with the
centre's rear wall, Chief Petty
Officer Ralph McKinney told
'i/e T)ibum' yesterday.
Hle said the three Cubans
"'risked their lives" while
nmanoeuvreing over the 10 to 12
footl fence and no doubt received
some injuries in the process.
Guards on duty reportedly
caught wind of the detainees'
mid-escape and fired warning
shots to frighten them, Chief
Petty Officer McKinney said.
The men continued their flight
and were pursued by guards who
tired "rubber bullets" in an
effort to stop them.
Rubber bullets, rather than
lethal force, are the first line of
defence when attempting to
catch detainees, officer McKin-
ney said. They "sting" their tar-
gets and leave a bruise rather
than a wound, he explained.
The RBDF has said they are
currently involved in an exten-
sive search for the illegal immi-
grants who have been identified
as Norje Rayes Hernandez, 38,
Juan Ramon Arona, 34, and
Nolvis Hidalgo Fonsesca, 30.
On August 21, six Cubans
escaped from the Detention
Centre during visiting hours.
The escapees reportedly cut a
hole through the chain link fence
behind their dormitory and
scaled the perimeter wall
using a homemade grappling
hook.
One of- the six escapees,
Rubidelvis Cala Merecio, turned
himself into authorities two days
after his escape. Immigration
officials revealed he suffered
injury during his getaway.
Guards at the Detention Cen-
tre came under fire after the
highly-publicised escape in
August and the sentry on watch
and the guard commander on
duty at the time were found
guilty of "neglect of duty" in
September.
Officials maintain that since
that escape, security measures
were "adjusted" in an attempt
to prevent further breakouts.
"We have done some adjust-
mnents (to security) since August,
but people will always find ways
to get around them," Officer
McKinney said.
He was not at liberty to elab-
orate on these adjustments, but
told 77he Tribune that a prelimi-
nary investigation was underway
to determine if any guard on
duty was negligent during Mon-
day night's escape.
Anyone with information
regarding the whereabouts of
the escapees is asked to contact
the RBDF.


FROM page one 2003 and 200
sick.
Mr Archer
after the Ministry of Works had total a sum of
to belatedly step in and stop lion and $1.3
work on the site. signed over to
"After their houses reached a "I want to g
certain point they went to the 24 hours to ex
ministry to get an occupancy in all of this,
certificate. (but) the ministry give us a rea:
found that the houses were built then I will ha
in a sub-division that was not resignation fr
approved so they did not allow said Mr Arch
it to continue," said He said it'
property owner Garren Hep- hard-working
burn. ans to work h
"As far as the Ministry of to get their mo
Works is concerned, this sub- home for there
division does not exist," said lies" only to 1
investor and mother Lynette One of their
Burrows. father, told T
To further compound the sit- are suffering.
nation the families found that ment is now w
they were not even owners of It's like it's dis
the property on which the even talk abo
homes were being built as the really sad."
realtor who does not appear Another i
on the Bahamas Real Estate Rogers, said:
Association's list of licensed fault, we did
realtors allegedly never paid book."
the property owner for the land. The families
The realtor has since report- Caribbean Ba
edly absconded and is said to ing into the ma
be wanted by police for ques- that they det
tioning after homeowners made was not well.
complaints. However, this could However,
not be confirmed up to press claimed it was
time. for not provide
Speaking with The Tribune the truth.
yesterday, several of those "Automati
involved said that just thinking would assume
about the loss they have suf- sub-division ar
fered since they first got an attorney w
involved with the project in

FROM page one

the court with a map of the Pinewood-sub-division
with the lines of the Pinewood constituency drawn
in.
Mr Coakley said that there are 3,812 lots over
about 560 acres in the Pinewood sub-division,
and the residential lot numbers in the sub-division
correspond with the residential structures there
with no duplications.
Consequently, during his testimony, the sur-
veyor identified voters by the lot he claims to
have found them in, and placed pins in the map to
illustrate where the voters live for the justices.
Three voters were identified yesterday by Mr
Coakley as residing at lot 1319, which he said is
west of Guinep Tree Street and out of.the con-
stituency.
The surveyor told the court that he and private
Investigator John Munroe found Danielle.
Michael and Tesa McKenzie on October 15,
though he did not specify if he met and spoke with
the voters.
A number of voters were also identified as
having been found to reside east of Acacia Street
in Pinewood, which is on the south-eastern
boundary of the constituency map.
Others were identified as living in the Sir Lyn-
den Pindling Estates, and yet others in the
Seabreeze constituency.
The witness further claimed on numerous occa-
sions yesterday that voters lived in locations oth-
er than what was indicated on Form B, which is
the information they provided the Parliamentary
Registration department.
In the case of Lisa Natasha Weir, Form B indi-
cated that she lived on lot 298 south of Sapodilla


4 makes them feel
r claimed that in
between $1.2 mil-
million had been
o the realtor.
give Dion Foulkes
plain his position
and if he does not
sonable response
ive to call for his
om the Cabinet,"
er.
was "not fair for
, decent Bahami-
ard, I mean hard,
onies to invest in a
m and their fami-
ose it all.
investors, a young
'he Tribune: "We
My total invest-
'ell over $100,000.
appeared. I don't
out it because it's
investor, Tanya
"This is not our
everything by the
s also blame First
nk for not check-
iatter to the extent
ermined that all
a bank source
the lawyers' fault
ing the bank with
cally, the bank
it's an approved
nd if it's not then
would have discov-


ered that and reported it to you
through due diligence."
Had the bank had "its eyes
wide open" to the fact that the
development only had
"approval in principle" the
loans would not have been
granted, it was suggested. "It
was a material non-disclosure,"
he added.
In mid-2006, the bank
allowed the individuals to can-
cel their loans but has yet to
agree to reimburse them for
their loss.
Many are still paying insur-
ance on the half-built homes
that they fear they may never
live in.
The police have also come
under fire for not taking suffi-
cient action in light of com-
plaints made by the homeown-
ers.
Last night, Mr Foulkes said
he had always acted "according
to the book" in all of his legal
work, and denied any wrong-
doing. He said Mr Archer, a
contender for the PLP chair-
manship, was exploiting the
matter for political purposes.
"They are just trying to add
some traction to the story by
calling my name," he added.
Mr Edwards, who worked in
the same building as Mr
Foulkes at the time, claimed
that the bank was aware that
the development only had
approval in principle, adding
that for loans to be approved
on this basis is a run-of-the-mill


48 people claim

Boulevard, east of Willow Tree Avenue and west
of Pigeon Plum Street.
However, Mr Coakley said that he found this
voter at lot 298, which is north Sapodilla Road,
west of Baygeranium Avenue, and outside the
constituency boundaries.
In the morning session, there was controversy
regarding the testimony of Mr Coakley. Lead
attorney for the FNM, Michael Barnett, raised an
objection to his testimony, as he was not classified
as an expert witness, yet was providing evidence
Mr Barnett said was his opinion.
After a brief discussion with the witness leaving
the stand, Senior Justice Allen acknowledged
him as an expert witness.
In providing his credentials to the court. Mr
Coakley said he worked for the government for
more than 30 years before working at Arawak
Homes for a decade between 1982 to 1992, and
then his own company Stafford Coakley and
Associates from that period to now.
In 1971, Mr Coakley said he was part of the
review team that gave recommendations for the
Pinewood sub-division.
At Arawak Homes he added that he worked to
establish the boundaries of the area, while at
Real Property Tax Department's valuation sec-
tion, Mr Coakley said that he did mapping of
Pinewood sub-division for property tax assess-
ments.
During the construction of the sub-division, he
added that he was also contracted to lay founda-
tions and the outer shell of residential building
structures.


occurrence.
He also brushed off sugges-
tions that he had been engaged
in a conflict of interest by acting
both on behalf of the potential
investors as they sought to
secure their loans, and for the
real estate company.
"Everybody knew that, there
was no difficulty in that, as long
as everybody is aware of it," he
said. "I discharged my duty as I


should have, I've given to the ,
bank what they had required as..'
I had done hundreds of times
before."
He alleged that the problem',
came about as a result of fail-,, '
ures on the part of the Ministry' -o
of Works to provide approval. '.
that they should have by now,'.
and said that the matter may
still come to a successful con-
clusion when this occurs.


First charges in Ministry


of Housing investigation

FROM page one

inspectors, and officials within the Ministry of Housing.
In the Magistrate's Court on Monday, Ms Strachan pleaded not
guilty to three charges and was granted and posted bail in the
amount of $3,000 with one surety.
According to the court's dockets, around June 15, 2007, at the
Ministry of Housing, Ms Strachan intended to defraud and obtain
(by omission) from Shavonne Cunningham cash in the amount of
$1,643.43 by means of false pretences.
Count number two, forgery, stated that during June, 2007, at New
Providence, Strachan intended to forge a certain document and
issue a receipt in the amount of $1,643.43 bearing the stamp of the
under-secretary of the Ministry of Housing reporting the same to
be genuine.
Count three, uttering a false document, alleged that Strachan,
during June, 2007, at New Providence, intended to defraud, utter-
ing a certain forged document with a receipt in the amount of
$1,643.43 bearing the stamp of the under-secretary of the Min-
istry of Housing, knowing the same to be forged.
The case has been adjourned to Monday, November 19.


FROM page one Man stabbed


stabbed, Mr McKenzie ran to
his neighbour's house where
he collapsed on the front
porch.
Mr McKenzie was immedi-
ately taken to Princess Mar-
garet Hospital, but died short-
ly after arrival at around 7am.
The perpetrator reportedly
fled the area on foot, leaving a
trail of blood behind. Follow-
ing the blood trail, police were
able to retrieve a screwdriver
from some bushes.
Press liaison officer Assis-
tant Supt Walter Evans said
that police officers at Quakoo
Street station arrested a sus-
pect, believed to be in his ear-
ly 30s, in a nearby home short-
ly after the stabbing.
Mr Evans said yesterday
that police are confident that
they will be able to bring this
case to a quick close.
Relatives of Mr McKenzie
were still in shock as they
gathered at the small East
Street home in mourning. One
of the family members said
they were afraid to tell the
deceased's mother, who is in
her 80s, of her son's murder.


Just three hours after the
murder, at 9am, police were
called to Bain Town where a
second stabbing had occurred
during a domestic dispute.
A couple living on Rupert
Dean Lane got into a fight,
which escalated into the
woman stabbing the man in
his left shoulder.
The man was taken to
Princess Margaret Hospital
for treatment and the woman
was taken into police custody.
Asst SUpt Evans expressed
concern over the high murder
rate and incidents of violence
this year.
With the number of mur-
ders now exceeding last year's
total by three, Mr Evans said
it is important for communi-
ties to come together to pre-
vent the murder rate from
climbing any higher.
He appealed to the public
not to resort to violence if they
find themselves in difficult
relationships and situations,
but instead to seek assistance
from agencies such as the
police or the church.


FANTASY


FOREST


2007 at 12 noon


* Santa & Snowbear


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* Royal Bahamas


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alleged housing deal that went wrong


F'. ~
to
A''.'






















I


PAGE 10, WEDNESDAY, NOVEMBER 7i 2007


THE TRIBUNE











TH T I nun


LOCAL NEWS


SIn brief

Guatemala


targets poverty,
S:seeks spiritual
guidance after
::narrow victory
GUATEMALA CITY
GUATEMALA'S new
president-elect, Alvaro
Colom, urged the country
on Monday to unite behind
his plans to reduce poverty
and said he would consult
with Mayan spiritual lead-
ers for guidance, according
to Associated Press.
"We will work to attain a
national brotherhood with
our 23 indigenous groups,"
-Colom, of the center-left
National Unity of Hope
* Party, told a news confer-
ence a day after winning a
Shortly contested runoff;
;'This will be a great oppor-
tunity to unify the country."
Colom, who worked with
civil war refugees in isolat-
.d highlands and is an
ordained Mayan minister,
said he would seek guidance
from the Mayan Elders
National Council, a group
of spiritual leaders, as he
prepares to lead this heavily
indigenous country.
With all the ballots count-
ed from Sunday's election,
Colom won with nearly 53
percent, compared with 47
percent for retired Gen.
Otto Perez Molina of
the conservative Patriotic
Party.
Perez, who ran on a tough
anti-crime platform,
pledged to work with the
new administration to fight
brime in Central America's
post violent country, where
youth gangs are rampant
hnd as few as 2 percent of
more than 5,000 homicides
a year are solved.
Colom, 56, said he would
fight crime by creating jobs
and overhauling the courts.
he plans to increase social
spending to help the majori-
ty of Guatemala's 13 million
people who live on less than
$2 a day.
"If we don't make justice
pur priority we won't get
Results when it come to
security," tolom said.


Bahamas National Trust Wine




and Arts Festival 'best ever'


WITH perfect weather, the 17th
Annual Bahamas National Trust
Wine and Arts Festival was rated
"the best ever" by Bristol Wines
and Spirits wine director Rusty
Scates.
"Approximately 200 members
attended the 'members night',
which preceded the festival and
around 1,200 enjoyed the art
exhibits and tasted the 56 wines
during the six hour festival on Sat-
urday," noted Lynn Gape, direc-
tor of education and communica-
tion for the Trust.
Wine chief Mr Scates, whose
company sponsored the event, said
he was delighted. "Almost every-
one attending, seemed to be serious
about really tasting the wines, mak-
ing notes and asking questions. I
believe that people generally are
discovering the pleasures of wine
and particularly which wines com-
pliment which dishes," he said.
More than 30 artists exhibited
their works and they too seemed
to be pleased. "Lots of people
expressed interest in my exhibits
and I actually sold several pieces
during the event," said Moya Stra-
chan, exhibiting for the second time.
Attending the Wine and Arts
Festival was Christopher Nick rep-
resenting the South African Vit-
ner, Graham Beck.
Mr Nick said he was very
impressed with the attendance and
the interest shown in his Graham
Beck wines.
He said he was also pleased that
the Bahamas National Trust is the
beneficiary of the funds raised at
the event.
"My company was founded in
1983 and has always worked
towards social empowerment. We
provide free housing for our vine-
yard workers, fund a skills learn-
ing centre, give college scholarships
and support nature conservancy.
"I have been delighted to note
the popularity of our wines in the
Bahamas which, despite the small
population size, is a very good mar-
ket for Graham Beck," he
said.
The next major fund raiser for
the National Trust will be the ever
popular pre Christmas "Jollifica-
tion", again sponsored by Bristol
Wines and Spirits. It will be held
on November 17 and 18.
Keith Parker, president of PS


Advertising and Public Relations,
who has been covering the Wine
and Arts Festival since it's incep-
tion, noted: "I overheard several
of the wine connoisseurs comment
on the two most expensive wines
on offer the Grgich Hills, Napa
Valley Chardonnay ($84.65 a bot-
tle) and their Cabernet Sauvignon
($119.70 a bottle). The taster's indi-
cated that they usually found the
more expensive wines unimpres-
sive for the price, whilst both of this
year's expensive offerings were
hand crafted wines and well worth
the money.
A most welcome addition to this
year's event was the complimenta-
ry sampling of "party platter" items
provided by City Markets.
A constant line-up of patrons at
the stall attested to the appeal of the
various cheeses and cold-cuts avail-
able for sampling.
Mr Scates noted that patrons will
be able to sample the 2007 George
du Boef 'Beaujolais Nouveau' at
this year's Jollification.


BILLY YOUNG of Bermuda, second from the right, sampled wine 26, the Australian 2006 Wolf Blass
Chardonnay. Mr Young has attended the last seven Wine and Art Festivals sponsored by Bristol Wines and
'Spirits: He said: "My friend'Kevin Collie, (pictured fur right) has been to all 17 festivals and invites me to visit
Nassau every year at this time I wouldn't want to miss it now s6 look for me next year!" Serving the
friends is Vanessa Walked6fBrirstol'Wines with Hazel Johnson looking on.


Jl


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-THE TRIBUNE


WtL-DN..bLS. .,


. -v .... I, 2007, PAGE 11









P 1W N YO B 7 7E I


0 In brief

Pope meets
a Saudi king
for the first
time; raises
restrictions
on Christian
worship
* VATICAN CITY
BENEDICT XVI raised con-
cerns about restrictions on
Christian worship in Saudi Ara-
bia on Tuesday in the first
meeting ever between a pope
and a reigning Saudi king,
according to Associated Press.
Benedict and other Vatican
officials have often protested
that Christians are unable to
worship openly in Saudi Ara-
bia and are barred from open-
ing churches in the desert king-
dom where Islam's holiest sites,
Mecca and Medina, are located.
King Abdullah, the protec-
tor of the holy sites, requested
the audience during his Euro-
pean tour, the Vatican said.
Benedict warmly greeted the
king, grasping both his hands
before heading into 30 minutes
of private talks in his library.
At the end of the meeting,
Abdullah presented Benedict
with a traditional Middle East-
ern gift a golden sword stud-
ded with jewels as well as a
gold and silver statue of a palm
tree and man riding a camel.
The pope admired the statue
but merely touched the sword.
Islam is the official religion of
Saudi Arabia and the kingdom
requires all Saudi citizens to be
Muslims. Only Muslims can vis-
it the cities of Mecca and Med-
ina.
Under the authoritarian rule
of the royal family, the king-
dom enforces strict Sharia, or
Islamic law. It follows a severe
interpretation of Islam known
as Wahhabism which rejects the
possibility of diplomatic rela-
tions with a Christian entity.
This interpretation would pro-
hibit a Vatican embassy in Sau-
di Arabia on the grounds it
would be equivalent to raising
the cross inside the site of
Islam's holiest places.
It is forbidden to practice
Christianity publicly inside Sau-
di Arabia, and it is illegal to
bring symbols from religions
other than Islam into the coun-
try. Bibles and crosses, for
instance, are confiscated at the
border.
* Some Christian worship ser-
vices are held-secretly, but the
government has been known to
crack down on them, or deport
workers from the Philippines if
they are known to hold even
private services.
The United States has also
criticized Saudi Arabia's restric-*
tions on other religions.
The Vatican has said it wants
to pursue a dialogue with mod-
erate Muslims after the pope
angered the Muslim world in
2006 wvith a speech linking Islam
to violence.


HONOUREES POSE for a photo with Governor General Arthur Hanna and National Security Minister Tommy Turnquest during the Prison Long Service Award Ceremony on Monday.


STAFF


HONOURED


AFTER


30 YEARS


ON THE JOB


Prison Long Service




Award Ceremony


0.nmi
tzzmS"S-w


9. ~


ABOVE: Governor General Arthur Hanna presents Sarah Jennette Gardiner, chief officer, with the Long
Service Award for more than 30 years of service.
ABOVE LEFT: Minister Tommy Turnquest brings remarks at the Prison Long Service Award Ceremony.,


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THE TRIBUNE


PAGE 12, WEDNESDAY, NOVEMBER 7, 2007


''












THE TRI B U NE




u WEDNESDAY, NOVess
WEDNESDAY, NOVEMBER 7, 2007


..v* ,i


ti"
s I ( ine io


HELPING YOU CREATE AND MANAGE WEALTH

NASSAU OFFICE
Tel: (242) 356-7764

FREEPORT OFFICE
Tel: (242) 351-3010


BISX awaiting $100m BEC



bonds, secondary market


* By NEIL HARTNELL
Tribune Business Editor
T he Bahamas
International
Securities
Exchange (BISX) is
awaiting the pro-
posed listing of the
Bahamas Electricity
Corporation's (BEC)
$100 million bond
issue and regulatory
approval for a sec-
ondary listing tier,
The Tribune was told
yesterday, with such
organic growth key to
taking it into the black after two years of
"moderate losses".
Keith Davies, BISX's chief executive,
speaking in the wake of last week's annu-
al general meeting (AGM), confirmed
reports reaching The Tribune that the
exchange had made "moderate, contain-
able losses of less than $100,000" in each
of its last two financial years.
Yet he added that there was "an expec-


* Exchange makes 'modest losses' of less than
$100,000 for past two years, but expects
positive income in future
* Government's two nominees appointed
to Board, as Kerr and Andrews step down


station" that BISX would start to generate
a profit soon through organic growth,
with increased revenues coming from
new listings and the launch of new prod-
ucts and services.
Mr Davies said BISX was ,ccking to
have" the listing of BEC's $100 million
bond issue on the exchange, such a com-
mitment having been made in the offer-
ing memorandum for that issue.
In addition, both Fidelity and CFAL
were working on the launch of invest-
ment funds that would give Bahamian
investors access to the international cap-
ital markets, both of which would ulti-
mately be listed on BISX once approved
by the regulatory authorities.


Bahamas missing


services tax funds


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
THE Bahamas must move
away from its heavy depen-
dency on customs revenue, a
forrfier minister of finance
said yesterday, as it is losing
out on potential revenues
that could be gained from
taxing its much larger ser-
vices industries.
James Smith, now CFAL's
chairman, explained that
under the current system,
lower income Bahamians
who rely heavily on goods
are taxed higher than
wealthy Bahamians who rely
more on service-based items.
Making the tax system
regressive, rather than pro-
gressive, the Bahamas con-
tinues to employ a structure
that relies on the taxation of
goods, when the largest con-
tributor to GDP is the ser-
vices sector.
"So as the economy grows,
the revenue does not grow as
fast, because you are only


Tax regime change
is a must, says
former minister-

taxing the smaller part. Our
economy has grown, but the
majority of that growth is in
the services," Mr Smith said.
He added that a tax system
based on this raises questions
of equality.
This is why, Mr Smith said,
the Bahamas will have to
move towards implementing
a Value Added .Tax (VAT)
as a replacement for customs
duties, something that finan-
cial officials have been work-
ing on for more than 10
years.
If and when the Bahamas
enters into an international
trade agreement, it would
have to restructure its tax sys-
tem to some extent.
Mr Smith added that
investment incentives cur-
rently granted under existing

SEE page 5


Bahamas needs

the top financial


services brands


By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
THE Bahamas must do
more to attract well-known
S financial institutions and
insurance companies to base
themselves in this nation, a
senior industry executive said
yesterday, boosting its per-
ception as a world-class inter-
national financial services
centre.
Wendy Warren, chief exec-
utive and executive director
of the Bahamas Financial
Services Board (BFSB) said
there was untapped potential
to further develop the indus-
try and improve its position-
ing by attracting companies
with a strong international
presence and client bases to
come to the Bahamas.
Addressing the Bahamas
Institute of Chartered
Accountants (B ICA), Ms
S,\ r.-i i said that as an exam-
pie, among the top 20 most


recognisied brands in the
global financial services
industry, the Bahamas has
only attracted a few, such as
CITCO.
She added that the
Bahamas has left virtually
untapped a huge potential
revenue base from the off-
shore life insurance and cap-
tive insurance, plus reinsur-
ance, markets.'
Ms Warren said that in
2006 alone, Bermuda, which
has positioned itself as a glob-
al insurance leader, generat-
ed revenue earnings of $10
billion from the sector.
Ms Warren said that if the
Bahamas' second most-
important industry was to
succeed, there must be a
diversification of the finan-
cial services offered here.
A branding of the indus-
try, she added, will be a
major BFSB initiative in 2008
as the organisation seeks to

SEE page 5


Treating them all as separate events,
Mr Davies said yesterday these were
"three things we're hoping will be on our
way shortly".
He added: "You're going to see these
small, incremental steps building the mar-
ket, as government agencies and private
companies dip their toes in the water and
come to the public markets."
BISX has long been working on an
'incubator' or secondary listing facility,
which would target smaller companies
not wanting to as yet be burdened by the
regulations and extra costs of being a

SEE page 3


Exchange controls


'undermine' value


of Bahamas firms


* By NEIL HARTNELL
Tribune Business Editor
BAHAMIAN companies
and assets are "being sold at a
slight discount" to the price
they could realise due to this
nation's foreign exchange con-
trol and other protectionist
policies, an accountant warned
yesterday, explaining that such
policies were hurting the com-
petitiveness of this nation's
firms.
David Slatter, associate
director of KPMG Corporate
Finance (Bahamas), told a
Bahamas Institute of Char-
tered Accountants (BICA).
seminar that much of the value'
in Bahamian companies and
Bahamas-based assets depend-
ed on how they were perceived
by foreign investors.
Due to this nation's
exchange control policies,


Protectionist policies
hurting Bahamian
firms' ability to
compete and
expand abroad

which could impact the foreign
investor's ability to extract
profits, dividends and capital
from Bahamian assets, and
protectionist policies reserving
certain areas of the economy
for Bahamian ownership only,
such overseas investors were
likely to apply greater dis-
counts to valuation models for
these assets and offer lower
purchase prices accordingly.

SEE page 7


1 I ____________________


Business owners urged: Allow your


customers to speak directly to you


* By NEIL HARTNELL
Tribune Business Editor
BAHAMIAN business owners have
been urged to develop mechanisms allow-
ing consumers to speak directly to them,
the Bahamas Chamber of Commerce's
president saying that such avenues were a
"great way to learn about what is going on
in your business".
Addressing a Business Survival Work-
shop staged by the Small Business
Resource Centre, Dionisio D'Aguilar.
president of the Superwash laundromat
chain, said developing ways for consumers
to directly contact them would enable
business owners to develop customer loy-
alty and a ready-made sales base for their
-companies.


Using his business as an example, Mr
D'Aguilar said his cell phone number was
posted'on the wall in all Superwash out-
lets, niiuin.' that customers who had a
problem or grievance his staff could not
resolve could, instead, con tact him direct-
ly for redress.
He recalled that the previous night, he
had dealt with a complaint from a cus-
tomer that they had not received a refund
from one of his outlets, eventually settling
the matter himself.
Mr D'Aguilar said: "What I did was
open up an avenue to allow consumers to
speak to me. That's very important. Make
yourself available to customers as much as
possible.
"I don't know why other businesses
have not done this. It's a great mecha-


Why settle for an ord






) 4. V, .


'~ ~7~'4~ ~


nism by which you can learn about what is
going on in your business. It's amazing
what consumers can tell you about what is
going on in your business.
"So make sure you have a mechanism
by which they can reach you, 24 hours a
day, seven days a week, or whatever hours
you work."
Superwash. Mr D'Aguilar said, was
founded by his father and uncle in 1968,
the latter spotting an opening in the laun-
dromat market, which at the time he felt
was poorly served by run down. locations
and sub-standard equipment.
To find the right locations for Super-
wash, the C h.:inl'-i president added, his

SEE page 6


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Bahamas tax/GDP




ratio among the




region's lowest


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
THE Bahamian govern-
ment's tax revenues are among
the lowest in the Caribbean
region when measured as a
percentage of this nation's
gross domestic product (GDP),
it was revealed yesterday.
Revenue
Ehurd Cunningham, secre-
tary of revenue in the Ministry
of Finance, told persons
attending a Bahamas Institute
of Charterd Accountants
(BICA) seminar that the
Bahamas depends heavily on
customs duties when compared
to the revenue collection meth-
ods used by other countries in
the region.
"For 2007-2008, tax revenues
are forecasted to comprise
$1.317 billion or 88 per cent of
total annual revenue, and rep-
resent 19 per cent of GDP,"
Mr Cunningham said.


"Historically, tax revenues
grew from approximately $750
million in 1998-1999 to approx-
imately $1.173 billion in fiscal
year 2006-2007. For fiscal year
2007-2008, of the total tax rev-
enue, 46 per cent is forecasted
to be collected from customs
duties, 30 per cent from stamp
ta'x and 8 per cent from
tourism tax."
However, Mr Cunningham
also pointed out that in com-
parison to CARICOM coun-
tries, customs duties averaged
some 17 per cent of total tax
revenues in the region.
"From a recent survey
undertaken by CARICOM,
out of a group of 17 countries,
the Bahamas is rated second
lowest overall on revenue col-
lected when compared out of
percentage of GDP," Mr Cun-
ningham said.
Income
This was partly due to the
absence of income tax and the
Government's policy over the
years, he added. A Value


Added Tax (VAT) is now
viewed as the most likely
option of the Bahamas ifs
forced to revamp its tax sys-
tem and replace the reliance
on customs duties.
Bahamas
Mr Cunningham explained
that if the Bahamas were to
enter into proposed trade
agreements such as the World
Trade Organisation (WTO),
Economic Partnership Agree-
ment with the European
Union (EU), and the CSME,
the tax system and methods
for the Government to raise
revenue would have to be
amended.
It could also transform the
Customs Department into an
agency more focused on bor-
der protection than revenue
collection.
"Trade agreements may
cause the reduction of other
revenue collections, as they
may be considered tariff sub-
stitutes and undermine the
purpose of the trade agree-
ment. The tourism concessions
may also need to be reviewed.
Tourism is important to the
economic life of the Bahamian
economy, and more countries
are increasing efforts in the
area," Mr Cunningham
explained.
"It is critical, therefore, that
agreements signed are able to
maintain and enhance the lev-
el of revenue relieved in terms
of things such as hotel tax and
departure tax. They have a
direct and indirect impact on
employment and other tourism -
related activity."


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PAGE 2B, WEDNESDAY, NOVEMBER 7, 2007


THE TRIBUNE









TUUSINESS


Firms


must speak


'in


a first world manner'


* By NEIL HARTNELL.
Tribune Business Editor
BAHAMIAN companies must
learn to speak to potential multina-
tional and corporate clients "in a first
world manner" if they hope to land
lucrative contracts, the Bahamas
Chamber of Commerce's president
has warned.
Addressing a Business Survival
Workshop staged by Mark Turn-
quest's Small Business Resource Cen-
tre, Dionisio D'Aguilar said he and
his brother had started a pest control
business after realising there was a
demand for such services among the


major hotels that was not being prop-
erly met.
He explained that hotel operators
told him they were frequently chang-
ing pest control contractors, some-
times as often as every six months, as
the repetitive, 'boring' nature of the
job was encouraging service standards
to slip.
Commercial
"We landed a large commercial
client almost immediately, and that
was Atlantis," Mr D'Aguilar said.
"We were very lucky, and the key
was being able to communicate with


them in a first world manner."
Too often, the Bahamas Chamber
of Commerce president said, Bahami-
an firms and entrepreneurs are "not
able to be sophisticated enough to
deal with large customers like
Atlantis".
As a result, they often missed out
on major contracts offered by large
Bahamian companies and multina-
tionals, such as Kerzner Internation-
al, that were based here.
Comfort
To further give Atlantis comfort in
his company's service quality and per-


formance, Mr D'Aguilar said the pest
control business guaranteed that it
would bring in a United States-based
professional once every three months
to inspect the resort and the work
done, providing a report to both par-
ties.
"That gave them a certain comtort
level that we would be able to per-
form," Mr D'Aguilar said.
Pointing out that "there are busi-
nesses and ideas out there that don't
require tonnes of capital" to get start-
ed, Mr D'Aguilar said his pest control
business had required just $30,000 in
initial capital investment, mostly on
trucks, equipment and labour.


BISX awaiting $100m BEC bonds, secondary market


FROM page 1


public company, but still
desirous of operating in a reg-
ulated, transparent environ-
ment as preparation for a pos-
sible future listing.
"What's happening on the
secondary market is that we
have made a formal represen-
tation/presentation to the
Securities Commission to seek
approval for its creation in a
formal way," Mr Davies said.
"We were waiting at the end
of last week for a response
form the Commission."
'Although Tropical Storm Noel
intervened, Mr Davies said:
"By the end of this week we
hope to receive some sort of
formal response from them,
and it it's positive it will allow


the second tier of the market.
to take shape on BISX."
On the exchange's financial
performance, Mr Davies said
BISX was hampered by a "vol-
ume issue", as there was not
enough trading and liquidity
in the market to generate the
volume of share transactions
required to place it in the
black.
He added: "BISX in its cur-
rent form will continue to
make decreasing modest losses
as the market expands. There
is an expectation we will move
to a positive income in the near
future" through an expansion
in the volume of securities
traded, and the activities stim-
ulated by this.
"A lot of hard work has
gone into making the company
lean and efficient," Mr Davies
said. "That's the plan and it's


working. Hopefully, we will be
able to report some positive
steps in the near future. Stuff is
poised to come to us."
Meanwhile, the BISX AGM
saw the nomination of the
Government's two appointees,
bank examiner and ex-Coutts
executive George Farrington,
and Simon Wilson, the Min-
istry of Finance's director of
economic planning, to the
exchange's Board.
They will replace Peter
Andrews, Bahamas Waste's
chairman, and Kenwood Kerr,
Providence Advisors' chief
executive, who did not seek re-
nomination, on the Board. Ian
Fair remains as chairman, and
the other directors are
Franklyn Butler, Tony Joudi,
Earl Cash, and Michael Ander-
son.
While the nominations of


the two government
appointees have not, at least
on the surface, brought the list-
ing on BISX of government
paper debt securities such as
Government-Registered Stock
and Treasury Bills any closer -
a move that would give the
exchange the critical mass it
needs to get into the 'black' -
Mr Davies said both men were
"deeply committed" to BISX.
"Those two can be called on
at a moment's notice for imme-
diate guidance, consultation
and support," Mr Davies said.
"This last AGM we had a
very good turnout, a very good
dialogue with our sharehold-
ers, and everyone came away
feeling positive about the
direction of the company and
the positive strides made and
the path for the future. It was a
very positive meeting.".


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award.
If so, call us on 322-
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Ti~aM~al~~t~iQfi.__,p fC~if


THE TRIBUNE


VVmUIotLOUmrI, IlVlVll- vilI I I, -uvv I r-\u ju










_ III I I


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5:30 7:00 PM






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information about local news, sports, entertainment and world news subjects that are
important to me. The Tribune is my newspaper."
JASON RAHMING
CONSTRUCTION FOREMAN

The Tribune


* .' he Tr e Tr
S O ; ; '' ' *. ; '" -, ,: -"' '. *


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A Leading Global Distributor is Seeking a



Logistics Specialist
A client of Ronald Atkinson & Co. is a leading distributor of electronic accessory
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THE TRIBUNE


PAGE 4B, WEDNESDAY NOVEMBER 0 2,]07


W


^rrp`









THE TRIBUNE




Missing services




tax funds


WEDNESDAY, NOVEMBER 7, 2007, PAGE 5B


FROM page 1


legislation would not be
amended. He said that in the
case of projects such as
Atlantis and Baha Mar, the
trade-off would be the impact
to the economy and the job
creation.
However, he pointed out
that currently Freeport's
Hawksbill Creek Agreement
generates tax incentives worth
more than $300 million a year.
"We tend to forget that, but
no other project in the country
has as many concessions," Mr
Smith said.


Almost 60 per cent of gov-
ernment revenue is derived
from customs and stamp
duties, and given that those
taxes are considered barriers
to trade, restructuring is bound
to be the order of the day
Budget
In this year's budget, of the
forecasted $1.5 billion in rev-
enue, $800 million or 55 per
cent will be derived from cus-
toms and stamp duty, Mr
Smith said
He added that in his view, a
new tax regime would be nec-
essary even if the Bahamas did
not sign on to any trade agree-
ments because of the lack of


revenue buoyancy. And the
implementation of an appro-
priately-designed VAT could
be used to eliminate other tax-
es, such as business taxes, once
it was set at a reasonable level.
Other countries in the region
have VAT taxes set at rates of
between 10 and 15 per cent,
Mr Smith said, adding that the
introduction of a VAT or any
form of taxation would require
tough enforcement to ensure
monies owed were collected.
Mr Smith acknowledged that
the culture and history of the
Bahamas makes the introduc-
tion of a new tax regime a dif-
ficult thing to implement and
be accepted by the Bahamian
people.


FROM page 1

promote the Bahamas as a place to do business
by sending out the message: "Make your address
the Bahamas."
She said that if this campaign was to be effec-
tive, the Bahamas must overcome its major
challenge of a lack of excellence, and strive to
bring quality service to the Bahamas not just in
financial services, but in every area of national
development.


Ms Warren added that Bahamian financial
services providers must also adapt their way of
serving high net'worth clients.
"Today, we are seeing a new class of high net
worth individuals; they are younger and they
are less prepared to remain loyal to a financial
provider, and so we have to respond different-
ly than we have done in the past," Ms Warren
said.
She added that the BFSB will continue to
provide input into amendments of financial
services-based legislation through consultation
with all stakeholders.


*I iil ilio ..... ....... i

`lRl. ^ll nLA^ 'A '^Bl


CFA SOCIETY OF THE BAHAMAS

ANNUAL AWARDS CEREMONY and
CFA PROGRAM INFORMATION EVENING
TOPIC:
"AN INTRODUCTION TO THE CFA
(CHARTERED FINANCIAL ANALYST)
PROGRAM AND THE EDUCATION
REVIEW COURSE"

DATE: Friday, November 9th, 2007
(event postponed from original date of Nov. 1 st due to inclement weather)

TIME: 6:00 p.m. Cocktails
6:30 p.m. Presentation

PLACE: Wedgewood Room
British Colonial Hilton
One Bay Street

GUEST SPEAKER: Charles W. L. Deale, Head of Society
Relations, CFA Institute, Charlottesville, Virginia

COST: Complimentary

RESERVATIONS: PRE-REGISTRATION REQUIRED by November 8, 2007

Karen Pinder, CFA
karen.pinder@efgbank.com
Telephone: 502-5405
The Chartered Financial Analyst (CFA) Program is a globally recognized
standard for measuring the competence and integrity in the fields of
portfolio management and investment analysis. Three levels of
examination verify a candidate's ability to apply the fundamental
knowledge of investment principles across all areas of the investment
decision-making process. The next examination date is June 7, 2008 and
the final registration and enrollment date is March 17, 2008. We
encourage all interested persons to attend the information evening to
learn more about the CFA Program. The CFA Society of The Bahamas, will
present a brief outline of the CFA Institute, and the local society. Special
Guest Speaker, Mr. Charles W.L. Deale, Head of Society Relations, CFA
Institute will provide an outline of the CFA Program and present the
charters to the new CFA Charter holders. The Education Committee will
provide a brief outline of the 2007-08 Education Programs planned for
Level I, II, and III candidates. A Q&A Panel Session will follow the
presentations.


Ba amas eeds

0
t e top fli a cial


servitces bra ds










I HE TRIBUNE


r-~UtIr ot, VVIUINtbUAY, INUVtIVIbIt /, ZUU/


-a


Rules:
1. Chodrenagera 10-16may antr udgg will be tn two
age ategonra: 10- 13 years and 14-1 yearoar a first
and second place wini min each category
2. Wrie a esay answe ng he following subject.
"Whatdoes the Four-Way Test mean tom Explapn
yourunderstadingofthe4-Way Tet 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 mst notexceed 1,000 worse.
Adults may assist the child filing out the entry krm.
but not in wrttlngthe letter.
4. lamit one essay per child. All entries must be received by
the Rotay Club o(Fast N asu before Nov 30.2007.
5. Onlyesays accompanied byo original entry nms capped
from the newspaper vwlM be accepted. Photocoy, ax
carbon or other copes will not be accepted.
6, Ouc winner wll be chosen from each age category. The
decision of the judges Is final.
7. Winnermust agree to a photo presentation which wil
be published in the newspaper.
8. Mail essay and completed newspaper ckiping to
The Four-Way Test Essay Competition,
Atn: MicheleRaein. The Rotar Club ofBast Nassan,
P.O. Box SS-6320,Nassau, Bahami
The Tribune,
/**:.... 1 y//^w / '.y^


Allow your


customers to






speak directly






to you


FROM page 1




relatives stood on street cor-
ners for eight hours a day over
a three-week period to mea-
sure the car and traffic flow, a
gauge of likely consumer activ-
ity.
After joining the business in
1993, Mr D'Aguilar said
Superwash had expanded from
five to nine locations. Yet in
the first year he was there it
made a $500,000 loss, and what
saved the business and allowed
it to flourish was the move to
24 hours per day, seven days a
week, opening.
"Revenues doubled without
any material increase in
expenses," Mr D'Aguilar said,
joking that it "broke my heart"
to close all Superwash outlets
at 6.30pm last Wednesday
night due to Tropical Storm
Noel.
He added that his staff found
it difficult to find the keys to
lock up, because Superwash
was never closed, and then
there were issues of who would
re-open the business..
The fact that Superwash was
open all the time also acted as


Pricing Information As Of: C F A L'"
Tuesday 6 November 200 7
BISX LISTED & TRADED RmCURfEES 4 IW.BBWWW.BsI AMASCOM FOR MORE DATA & INFORMATION
BISX ALL SHARE INDEX: CLOSE 1,915.98 / CHG 00.09 / %CHG 00.00 / YTD 239.79 / YTD % 14.31
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 7.86 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 11.02 11.00 -0.02 1,500 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 0.00 950 1.190 0.680 13.0 4.11%
7.22 4.70 Consolidated Water BDRs 6.29 6.40 0.11 0.112 0.050 56.3 0.79%
2.70 2.20 Doctor's Hospital 2.25 2.25 0.00 500 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 12.00 Finco 12.79 12.79 0.00 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) 6.02 6.03 0.01 8,000 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%
8.09 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%
10 00 1000 Premier Real Estate 10.00 10.00 0.00 1.167 0.600 8.6 6.00%
Fidelity Over-The-Counter Securities
52wk-Hi 52wk-Low Symbol Bid $ Ask $ Last Price Weekly Vol. EPS $ Div $ P/E Yield
14.60 14.25 Bahamas Supermarkets 14.60 15.60 16.00 1.160 1.125 13.4 7.71%
8.00 6.00 Caribbean Crossings (Pref) 6.00 6.25 6.00 0.000 0.480 NM 7.80%
0.54 0.20 RND Holdings 0.35 0.40 0.20 -0.030 0.000 N/M 0.00%
Colina Over-The-Counter Securities
41.00 41.00 ABDAB 41.00 43.00 41.00 4.450 2.750 9.0 6.70%
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%
BISX Listed Mutual Funds
52wk-Hi 52wk-Low Fund Name NA V YTD% Last 12 Months Div $ Yield %
1.3615 1.3128 Colina Money Market Fund 1.361452*
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 Cblina Bond Fund 1.274052**
11 6581 11.2596 Fidelity Prime Income Fund 11.7653"**
FINDEX: CLOSE 889.29 / YTD 17.14% / 2006 34.47%
BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00 MARKET TERMS YIELD last 12 month dividends divided by closing price NAV KEY
52wk-Hi Highest closing price in last 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 day's 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 ". 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
P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100
(S) 4-for-1 Stock Split Effective Date 8/8/2007
TO TRADE CALL: COLINA 242-502-7010 I FIDELITY 242-356-7764 / FOR MORE DATA & INFORMATION CALL (242) 394-2503


a self-monitoring system to
ensure staff got to work on
time, Mr D'Aguilar said.
He added that finding
employees with all of three key
qualities the ability to get to
work on time, honesty and
ability to interact properly with
customers was "a major prob-
lem for employers".
"All I do is pop up and keep
my staff on their toes," he
added. "I have kind of devel-
oped an intelligence network
in my business. That's how I
keep my finger on the pulse of
my business, making sure it
runs smoothly. It's all about
the nuts and bolts."
When it came to running
start-up companies, Mr
D'Aguilar said that if entre-
preneurs did not have the
"passion" to do so themselves
they were "wasting their time".
"It needs the passion, and it
needs your individual atten-
tion, because no one can run
the business as well as you can.
You cannot delegate to some-
one else. It will fail," Mr
D'Aguilar said.
As an example of this "pas-
sion", he pointed to ex-Com-
monwealth Bank executive
Walter Wells, who left a senior
post to build a consortium to
acquire Caribbean Bottling
Company, the Bahamas man-
ufacturer of Coca-Cola and
other soft drinks, which -had
fallen on hard times.
Adding operational exper-
tise through the 30 per cent
stake taken in his group by
Banks Breweries (Barbados),
Mr D'Aguilar said Mr Wells
entered a new field to turn
around a company that had
fallen on hard times, with
Coca-Cola product previously
missing from many store
shelves in New Providence.
The Chamber president
described as "the hardest part"
for entrepreneurs and start-ups
as generating the first $100,000
in revenue, as "once you get
past that it becomes easier and
easier and easier".
Urging entrepreneurs to
assess the competition they
would face when starting out,
Mr D'Aguilar contrasted the


bottled water sector with
Superwash's own. While there
were no barriers to entry in the
former, the laundromat trade
required large amounts of
upfront capital to equip loca-
tions and purchase machinery,
providing "substantial barri-
ers".
Mr D'Aguilar said he was
trying to raise these barriers
every year by investing in
standby generators, new loca-
tions, new washers and driers,
and providing additional ser-
vices such as steam pressing.
"When starting out, you
have to figure out your com-
petition and what is going to
differentiate you from them,"
Mr D'Aguilar said.
"That's what being an entre-
preneur is all about. You've
got to have passion and learn
to differentiate yourself from
the competition."
Bemoaning the dearth of
middle management talent in
the Bahamas, Mr D'Aguilar
said that in the food retail busi-
ness it was critical to have the
right managers to run stores.
"If you have a useless man-
ager, that business will not do '
well. It's so important that the
guy running it knows what he
is doing," said Mr D'Aguilar,
speaking from experience by
virtue of being an Abaco Mar-
kets director.
As an example of a business
in which he invested that did
not succeed, Mr D'Aguilar
referred to Pizza, Pizza, which
was set up in 1995 under the
management of now well-
known radio personality Jeff
Lloyd.
Mr D'Aguilar said the ven-
ture cost him and fellow
investors "hundreds and hun-
dreds and hundreds of thou-
sands of dollars".
"We got it totally wrong. We
tried to be too big too fast, we
tried to grow too fast, and for-
got to keep it simple," Mr
D'Aguilar said, adding that the
company never opened its
planned second outlet.
He warned entrepreneurs to
ensure their businesses were
running smoothly before they
sought to expand.


NOTICE
NOTICE is hereby given that RONALD JOSEPH of
FOX HILL, NASSAU, BAHAMAS, is applying to the Minister
responsible for Nationality and Citizenship, for registration/
naturalization as citizen of The Bahamas, andthat anyperson
who knows any reason why registration/naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 31ST day of
OCTOBER, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Nassau, Bahamas.



NOTICE

NOTICE is hereby given that JUNIOR ANTHONY DAVIS OF
YELLOW ELDER #3, P.O. BOX N-1639, NASSAU,
BAHAMAS, is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
'not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 31st day of
October, 2007 to the Minister responsible for Nationality and
Citizenship, P.O.Box N- 7147, Nassau, Bahamas.


NOTICE

NOTICE is hereby given that SYLVENA DUCENOR OF
BAILY TOWN, BIMINI, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight
days from the 31st day of October, 2007 to the Minister
responsible for Nationality and Citizenship, P.O.Box N- 7147,
Nassau, Bahamas.


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


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
quLoted 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
questions


OFFICIAL ENTRY FORM


CWUd'sNsnw-


BalAd&ams
.dhool; t,_ .. ...._...... ...... ...... ... ........... .




... ..... .. .. .- -
Parent's Signature:
Telephone contact (H)
Al cntiesbeconeproprty of thcRotarylauboTfast Nassau andcan be used
md Numsdsaoed fsr Aon Pur e witbeaAt cmensail .


NASSAU


~


BUSINESS


Four-WAY Test


*











THE RIBUE WEN~bdI ~ ...va.~l 7 200,IPAES7


Exchange controls 'undermine'





value of the Bahamas firms


FROM page 1





While Bahamian companies
were restricted in their ability
to access foreign reserves for
investments abroad, Mr Slat-
-ter explained that while this
nation's economic model
sought to attract international
capital and foreign investment
inflows, repatriating these lat-
ter flows could be more prob-
lematic.
Using the September 11,
2001, terror attacks as an
example, Mr Slatter said that
S.since the Central Bank of the
Bahamas' main objective was,
.." to protect the foreign reserves
and maintain the one-to-one
peg with the US dollar, if such
an external shock happened it
would have no choice but to
place a block on large foreign
currency outflows.

Impede
Such a move could impede
investors seeking to make large
capital withdrawals, Mr Slat-
ter saying any move to liqui-
date large investments such as
$100 million and withdraw that
capital could not be allowed
by the Bahamas in such cir-
cumstances.
"This liquidity risk will
reduce the value of Bahamian
firms in the eye of foreign
investors," Mr Slatter
explained.
"A lot of Bahamian value is
dependent on the foreign
investor and what they see.
They would see a significant
risk that they may not be able
.to get capital out when they
.' need to."
SSimilarly, w npk it came,to
Sthe.Q4qudtofiponetarypoli-,
cy;:Mi- Slatte qcoptrasted the ,
US Federal Reserve's ability
to cut interest rates and stimu-
late borrowing and consumer
demand to stave off a reces-
sion, with the policy that the
'Central Bank of the Bahamas
would pursue.
Again, given that the Cpn-


tral Bank's main target was
preserving the one-to-one US
dollar peg and protecting the
nation's foreign reserves to
ensure the Bahamas had
enough import financing, Mr
Slatter said such interest-rate
cutting tools were not avail-
able in the Bahamas.
Post-September 11, rather
than-cut interest rates to stim-
ulate the economy, Mr Slatter
said the Central Bank restrict-
ed credit creation to protect
the foreign reserves.
He explained: "This leads to
wider fluctuations in GDP
growth than would otherwise
be the case." This, Mr Slatter
said, would lead to greater rev-
enue volatility and greater
forecasting risk for Bahamian
firms, as a volatile economy
made for earnings volatility.
Seeing all this, Mr Slatter
said foreign investors would
build in greater discount rates
on cash flow valuations of
Bahamian firms, again reduc-
ing their value.
"Many of these foreign enti-
ties, when they invest in the
Bahamas, they use a discount
rate or rate of return that
reflects the risk," Mr Slatter
said. "When they do that, that
hurdle or price they are willing
to pay goes down.
"I would argue that many of
these Bahamian assets are
being sold at a slight discount
to what they could be."
He added that the exchange
control regime had enabled
Caribbean companies, such as
Barbados Shipping & Trading,
Banks Breweries (Barbados),
Sagicor, CLICO, Sandals,
Breezes and others to enter
the Bahamian market, but had
restricted companies in this
nation from entering there's
an d expanding abroad.
"Foreign investors are
acquiring Bahamian assets, but
Bahamian firms, are not buying
foreign assets," Mr Slatter said.
"If you're looking for signifi-
cant examples of where
Bahamian firms acquired for-
eign assets, nothing comes to
mind."
Some Bahamian companies
had returned foreign-owned
assets to domestic ownership,


NOTICE
NOTICE is hereby given that CECILIA ST. LEO FORBES
OF BARTLETTE HILL, GENERAL DELIVERY, GRAND
BAHAMA, BAHAMAS, is applying to the Minister responsible
for Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 7TH day of
NOVEMBER, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.


he added, 'citing FOCOL
Holdings' acquisition of Shell
(Bahamas); Colina's purchase
of Imperial Life, Canada Life
and Global Bahamas; and
Bahamas Supermarkets' acqui-
sition by BSL Holdings.

Companies
Questioning whether
Bahamian companies were
more competitive and of
greater value than they were
10 years ago, Mr Slatter said


companies that were in pro-
tected industries, such as those
reserved for Bahamian own-
ership only, were having their
"ability to realise their true val-
ue" restricted.
The growth rate for such
firms was much smaller, he
explained, and the value for
firms in industries reserved for
Bahamian ownership, such as
retail, wholesale, restaurants,
real estate and the media, was
being kept down by the pool of
potential buyers being restrict-


Legal Notice


INTERNATIONAL BUSINESS COMPANIES
ACT
(No.45 of 2000)

CHANTEL OVERSEAS LTD.
In Voluntary liquidation
Notice is hereby given that in accordance with Section 137 (4)
of the International Business Companies Act (No. 45 of 2000),
CHANTEL OVERSEAS LTD. has been dissolved and struck off
the Register according to the Certificate of Dissolution issued by the
Registrar General on the 25th day of October, 2007.

PABLINO EDWARDS BENITEZ
Rlncon531,
Unidad 502 Montevideo
Uruguay
Liquidator



Legal Notice


INTERNATIONAL BUSINESS COMPANIES
ACT
(No.45 of 2000)

OLDEMAR TRADING CORP.
In Voluntary liquidation
Notice is hereby given that in accordance with Section 137 (4)
of the International Business Companies Act (No. 45 of 2000),
OLDEMAR TRADING CORP. has been dissolved and struck off
the Register according to the Certificate of Dissolution issued by the
Registrar General on the 25th day of October, 2007.

Mr. Alexander Yakovchuk
15, Bololailkovskaya Str.,
Apar. 21
Moseow, Russia
LIquidator


ed to domestic companies only
- usually competitors wanting
to increase market share.
In addition, companies in
protected industries were slow-
er to adopt new management
techniques and technologies,
refusing to become more effi-
cient and tied to the 'old way'


of doing business, again
depressing their value.
Because they were not pre-
pared for competition, compa-
nies in protected industries
would be subject to greater dis-
counts on their value than non-
protected sectors, Mr Slatter
said.


Royal Island (Bahamas) Limited

INVITATION FOR EMPLOYMENT

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

ADMINISTRATIVE ASSISTANT

Successful applicant will be responsible for the following:
Daily cash transactions
Accounts Payables
Wages, national insurance & timesheets
Cheques Tranactions
Cheque Reconciliations
Staff records
Meeting Minutes
Reports
Log Sheets
Departmental or Specific Task summeries
Correspondences
Undated and backed up Computer Files
Up-to-date filing
General office cleanliness

Qualifications and Experience:

The idel candidate should have:
At least 5 years experience in a similar capacity.
Sound computer skills (experience with Word, Excel
computer networking, email programs essential).
A background in Legal, Accounting, Property
Development or Hospitality fields a plus.
Accounting and Human Resources experience.
Strong interpersonal and Organizational skills.

The successful candidate will be required to reside at
Eleuthera.

Interested persons should submit their resumes with cover
letter to:

Harcourt Management Services Ltd.
P.O.Box N 1991
Nassau Bahamas
Fax to: (242) 356-4125
Or Email to: info@gomezcorp.com

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





Julius Bar

Julus Ba Group, the leading dedt Wlth Maneisent nis seeing ndies for the
position of:

HEADOF ITALIAN DESK
CORE RESPONSIBILITIES:
St upand lId a tnmof ltionshmanagers wh focuson Italin speaking
European Coutries (Italy and Switmand)
Acquisition of new clients
Colnretenton and swiv oftis o ietrelatonshps
Frequent business tripto Europe
Promote Nassau as inancl centre and JB Nasu as bookingcntr for offshore
clints.
REQUIRED SKILLS
Excellntverbaland written communication ski
PC ltrate with strong Excel, Word, PorPoint (aillyto learm new applications
qcy)
A commitment to srvce excellence
EXPERIENCE:
Minimum 10 experen Swiss Banking In related field
EDUCATION:
A Bachelors degree with concentration in Economic, Business Administration or
equivalent.
FOREIGN LANGUAGES:
The ability to speak a thid language would be an asset
Soffer a vy competiwe compensation and bnefits package, a simulting worit
environmert and the opportunity to make a signicnt contribtlon to our business w~i
expanding your career,
Interested candidates should forwa ld a copI of their resume by October 31, 2007 to the
attention of


PMonml & Condtill
Human Rmource
Ocean Cntre, Montagu Fomreshore
East Bay Street
P.O. Box N.40
Nassau, Bhamas


Pmonal & Confldental
Human Rsoues
P.O. Box N-4800
Nassau, Bahamas


L. PositionJ Available:
Position Available:


HEAVY EQUIPMENT
MAINTENANCE MANAGER


Job Description:
Responsible for the management of all
maintenance activities in Nassau ensuring
all preventative maintenance and heavy
equipment repairs are conducted as per com-
pany standards. Conducts on-site audits and
evaluations of port equipment, coordinates
repair activities and preventative procedures.


Education:
High school diploma or equivalent. Trade
or Technical certificate in Heavy Equipment
Maintenance.


Experience:
Five years experience in heavy equip-
ment maintenance with at least two years
in management of equipment maintenance.


Container Terminals offers a highly competi-
tive package of benefits. Salary is commen-
surate with qualifications and experience.


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

CIVIL ENGINEER
Bachelor Degree or higher in the field of Civil
Engineering.
3-5 years experience in Civil Engineering and
Construction related fields.
Registered with the Bahamas Professional Engineers'
S Board.
Experience in the design of Subdivisions, Roads,
Airports, Drainage and Water & Sewerage Systems.
Ability to use engineering software such as Auto
CAD 2004.
Proficient in implementing site quality assurance
measures and overseeing site supervision.
Hardworking and able to handle a number of projects
simultaneously.

REAL ESTATE AGENT
3 5 years experience in the Real Estate Industry.
Licensed with the Bahamas Real Estate Association.
Motivated.

King's Real Estate is a team orientated company and
potential employees should be capable of adapting to
this philosophy.

, All interested candidates should e-mail there resumes to:
Skingsley@kingsrealty.com


w.


l


WEDNEbuL,,, ,,_ :;,i.- 7, 2007, PAGE 7B


THE TRIBUNE










PAGE 8B, WEDNESDAY, NOVEMBER 7, 2007


THE TRIBUNE'


A'Shad Bowe
St. Augustine's College


Chris Darling
FaithT6mple


BeJay Fox Nathaniel Humes
L.W. Young Jr. High S.C. McPherson Jr. High


P inBo


Davonte' Knowles
S.C. McPherson Jr. High


Devon Richardson
C.I. Gibson Sr. High


Steffon Thompson
R.M. Bailey Sr. High


Mark Gibson
Progress Academy


Randell Johnson
Aquinas College









Demetrius Rolle
Faith Temple


Thedro Neely
S.C. McPherson Jr. High


Nathan Sands
Faith Temple


Warren Williams
Heritage Christian


Anthon Percentie
C.R. Walker Sr. High


Keith Worrell
R.M. Bailey Sr. High


James Nonome
C.C. Sweeting


Miguel Strapl
H.O. Nash Jr. High


Deon Ferguson
C.V. Bethel Sr. High


Rashad Timothy
Doris Johnson Sr. High


Kyle Mackey
Faith Temple


Kelly's Home Centre



"07 SUMMER


Over the past 20 years we've
nations youth, encouraging them


Alexander McKenzie
R.M. Bailey Sr. High


Cohen Sweeting
Bahamas Academy


Felicia Roker
H.O. Nash Jr. High


Rodlyn Malcolm
College of St. Benedict


Oprah Davis
Aquinas College


Delthia McKinney
College of St. Benedict


Timon Fox
C.V. Bethel Sr. High


been employing our
to strive for excellence.


Kishlyn Hall Sherlyn Albury
Aquinas College Univ. of Guelph, Canada


S ae. '


Rashaan Forbes Earl Thompson
Fisk Univ. St. John's Univ.


Kristina Christie Vincent Thompson Julio James Timothy Bain
Univ. of Tennessee St. Augustine's College College of The Bahamas St. Augustine's College


Kristoff Davis
St. Augustine's College


Anthony Miller
Discovery Learning


RachelJohnson
South Haven Christian Academy


Ramon Wong Dorian Stubbs
Mt. Carmel C.R. Walker Sr. High


Luther Humes
Government High


! f'..f.I.,C



Rodrigo Thompson
C.V. Bethel Sr. High


Livington Saunders Vanell Francis
B.T.V.1 College of The Bahamas


Waehus


Leslie Wilson Tevin Woodside
St. Augustine's College Zion Excel Academy


I P r ce r -.


Delicia Brennen
Bahamas Academy


Keith Mackey
Doris Johnson Sr. High


Latavia Anderson Alexandria McKenzie Kyrbi Josey
Bahamas Academy Government High School St. Augustine's College


As, k,- i,:j, Devinney Sands
Aquinas College Doris Johnson Sr. High


1 "-ME I
Shandia Finlayson
Government High School


Ebony Finlayson
St. John's College


We wish all of our Summer Students good luck
and every success in all of their endceavours!


Marcian Saunders
Doris Johnson Sr. High


Stefano Basden
Pace Christian Academy


Milo Strachan
Temple Christian


Reno Ferguson Wayde Higgs
Government High School C.C. Sweeting Sr. High


A'Dario Bowe Jonathan McKinney
St. Augustine's College Teleog Christian School


Morgan Worrell
South Haven Christian Academy


Jason Cleare
C.C. Sweeting Sr. High


Tristan St. Jean
Government High School


Taj Bastion
St. Augustine's College


Jamal Moxey
C.I. Gibson Sr. High