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Permanent Link: http://ufdc.ufl.edu/UF00084249/03070
 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: 12/21/2007
 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: UF00084249:03070

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The


Tribune


BAHAMAS EDITION


ume: 104 No.27 FRIDAY, DECEMBER 21, 2007 PRICE 750



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PLP: don't judge r


Party encourages


public to wait for


response from MP


* By PAUL G TURNQUEST
Tribune Staff Reporter
pturnquest@tribunemedia.net
THE Progressive Liberal Party
yesterday encouraged the public
not to make any judgment on the
morality of MICAL MP Alfred
Gray, as he has yet to make a
statement on the "nature, and or
truth" of the allegations levelled
against him.
Yesterday, The Tribune report-
ed that the MP was caught by two
police officers in "the back seat of
a car with a woman who The
Tribune has confirmed was not
his wife in the parking lot of a
Methodist Church in Yamacraw.
According to the report he was in
his "birthday suit."
According to sources, the
alleged incident was discovered
on November 20 at 10pm by
police officers who were on rou-
tine patrol in the area.
The officers were reported to


have discovered two cars parked
in the parking lot of the
Methodist Church.
Upon inspection, they discov-
SEE page 13


RBC accuses Public Service Drivers
Union chief of concocting 'fantasy'
* By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net
PUBLIC Service Drivers Union president Richard Johnson was yes-
terday accused of concocting a "fantasy" by a Royal Bank of Canada
spokesperson in the wake of claims that RBC had agreed to make avail-
able $1 billion worth of interest free funds to Bahamians.
Mr Johnson held a press conference yesterday morning in which he
called on RBC's regional director for the Caribbean Ross McDonald to
"come good" on the agreement to provide the funds, which he said he
and David Moorcroft, a spokesperson for RBC's CEO Gordon Nixon.
had come to in 2003.
SEE page 13


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TWO-YEAR-OLD Alex Etienne holds on tight to the gift he received from St Cecilia MP Cynthia Pratt
yesterday during the annual Toys for Tots campaign at the constituency.


Sea Hauler tragedy victims gather for protest


* By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net
VICTIMS of the Sea Hauler
tragedy gathered at Potter's Cay
Dock yesterday in an emotional
protest against the operations of
United Star, the 178 ft freight
cargo ship involved in the 2003
heart-wrenching accident with
the vessel.
Approximately a dozen vic-
tims convened in the parking lot
near United Star's unloading


dock, some wearing memorial T-
shirts' of deceased victims, oth-
ers holding placards reading, "Tis
the Season to Give, Give the Sea
Hauler Victims What is Theirs"
while chanting "Enough is
Enough."
At the protest Lincoln Bain,
spokesman for the victims, issued
a spirited call for all Bahamians
to boycott the cargo ship United
Star and its sister ships until the
Sea Hauler victims receive jus-
tice.
The victims, who have protest-


ed outside the House of Assem-
'bly and chained themselves to
the gate of former prime minister
Perry Christie, are now focused
on getting attention from the
other entities involved in the
accident.
"We just want to bring aware-
ness to everyone that this ship
that was responsible for killing
and injuring all these people, all
these Bahamians, is still being


SEE page 12


Plans for airport
redevelopment
'are on target'
DESPITE minor setbacks in
individual projects, the Nassau
Airport Development Company's
plans for redevelopment of Lyn-
den Pindling International Air-
port are on target, said Craig
Richmond, CEO of NAD at a
press conference Wednesday.
"We have done a lot of work in
the parking and we're adding
another 100 spots in the domestic
parking lot within the next day
or two if we don't get too much
rain. We have the overflow park-
ing lot and this weekend, which is
very busy, we have two shuttle
buses on practically all day and all
night," Mr. Richmond said.
In addition to expanding and
improving parking facilities he
explained that NAD is focusing
on improvements to restrooms
and general cleaning.
"We're very close to opening
up a new set of refurbished wash-
rooms. We've done a lot of work
just around the place in terms of
paint and fixtures and cleaning
up what is, let's face it, a fairly
old airport and people will start to
see a real improvement in the
New Year in that regard as well
when every three or four months
another three or four washrooms
SEE page 13

BPSU president
responds to claims of
inadequate consultation
BAHAMAS Public Service
Union president John Pinder yes-
terday brushed off claims that the
union had failed to adequately con-
sult with its affected members
before signing a new agreement
with the Nassau Airport Develop-
ment company.
According to information reach-
ing The Tribune, there was insuffi-
cient dialogue between staff mem-
bers and the union prior to the
signing of the collective bargain-
ing agreement on Wednesday.
Some staff members claimed they
found it hard to obtain a copy
either before or after it was
finalised.
However, Mr Pinder yesterday
said that any member suggesting
such a thing was "telling a lie."
"We had three meetings with
staff before we signed off," said
Mr Pinder. He also claimed that
copies of the agreement were
handed out to staff "well before"
the signing with employees being
given the opportunity to review
and offer input.
"We are satisfied that NAD is
trying to better their salaries, better
their increases," said Mr Pinder.
SEE page 13


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PAGE 2FRADEBR120


HUNDREDS QUEUE FROM 9 A.M. TO 5 PM. FOR CHEQUES



Redundancy pay fails to satisfy



many Royal Oasis workers
:i E By DENISE MAYCOCK the displaced workers after sev-
Tribune Freeport Reporter eral staged demonstrations.
dmaycock@tribunemedia.net *, About 650 workers who were


FREEPORT The final pay-
ment in redundancy money by
Sthe government to Royal Oasis
workers was not what many had
anticipated for Christmas.
Although some workers were
grateful, others were not satis-
fied, and a few left in anger, after
receiving their final redundancy
I\ cheques on Thursday.
SHundreds of workers stood in
long lines outside the Hilton Out-
ten Convention Centre from 9am
to 5pm to receive their cheques of
settlement from Treasury officials
in Freeport.
Some workers reported receiv-
ing payments totalling as little as
$60 and $200. However, others,
particularly casino workers,
,reported receiving more substan-
tial payments of about $10,000 or
more.
Labour officials and police offi-
cers were on hand to oversee and
ensure the smooth processing of
individuals as they were led in
groups of 10 at a time inside the
convention hall.
Harcourt Brown, director of
labour, said government will
complete payments to the
remaining three categories of
workers who were employed at
Royal Oasis those who were
not paid any money, the differ-
ence to those paid at a rate below
the minimum wage, and those
who received partial payments in
2005.
Mr Brown noted that there
have been a number of com-
plaints and concerns expressed
by some individuals who had
expected to receive more mon-
ey.
"I think the expectation of
some persons were that they were
going to get considerably more
money. And, I think probably
they did not understand the per-
centages in terms of the minimum
wage and the difference between
what they got.
"Remember, there are very
few people out of the total num-
ber of persons employed at Roy-
al Oasis that did not get anything.
A good majority about 80 per
cent were fully paid what they
I


were entitled to." he said.
Mr Brown stated that treasury
officers must meticulously scru-
tinise the list of about 250 to 300
names to ensure that "the right
people are being paid the right
amount."
Many Royal Oasis workers
were happy that government was
able to pay them their money in
time for Christmas.
Nathaniel Rolle. a former golf
course employee, was "satisfied"
with his final payout from gov-
ernment. "I have no complaints
- it's better than nothing. I am
satisfied with what I received and
I can say that it is going to be a
good Christmas for me. and I just
thank God," he said.
Former maid Marinette Linse
said: "I feel good because it was a
long time coming. It is very tough
(for me) because I am still unem-
ployed and have not found any-
thing since the hotel closed, so I
will use the money to pay bills."
Keith Smith, a former hotel
employee of eight years, was also
"grateful" even though he felt
that he was entitled to much
more.
"I give God thanks for it and I
hope that everyone feels the same
way. I don't feel that I was paid
the right amount, but I am grate-
ful for it," said Smith, who said he
will use the money to pay bilsl
and spend some for Christmas.
However. Juliet Symonette. a
former security officer employed
since 1983 at the casino, was not
satisfied with the $10.400 cheque
that was presented to her by trea-
sury officials.
She said that her last day at
work was on December 25, 3005.
and claimed that she is owed
much more, according to the
labour law. She believes she is


entitled to two weeks in lieu of
notice, health insurance money,
and seven and a half weeks vaca-
tion pay.
"I want the money the law says
that I am to be paid, and it would
have been a hell of a lot more
than $10,440.48 cents. Mr Brown
told me that the government is
trying to give everybody some-
thing, but the law is the law and I
intend to get the rest of my mon-
ey by hook, crook, come hell or
high water.
"No hotel in this country can
be sold without the approval of
the government, and the govern-
ment should not approve for this
hotel to be sold without the peo-
ple being paid. When I went to
the doctor I was told that my
health insurance was not paid -
that's stealing."
A political debate also erupted
between two women who were
standing in line outside one
defended the former prime min-
ister Perry Christie. and the other
defended Prime Minister Hubert
Ingraham.
Royal Oasis workers have been
experiencing financial hardship
since 2004 when the hotel closed
due to extensive hurricane dam-
age. At that time, none of the laid
off workers were paid any redun-
dancy money from the Driftwood
Group. the former owners and
operators.
In May, 2005, the former PLP
administration paid $5 million of
the $6.12 million in redundancy to



32215


entitled to $11,uuu or less were
paid in full, and those entitled to
more than $11,000 were paid 50
per cent.
In October, 2007, the FNM
government announced that it
would pay the balance of the
money owed to the workers, as
well as pay an additional 131 per-
sons who did not receive any
money.
Yvette Brfn claims that she was
employed during the reconstruc-
tion phase with Balfour Con-
struction following the hurricanes.
She said she has not paid a dime
since 2004 and her name has not
been placed on the list by hotel
officials. "I have been trying to
get my money for the past three
years. I have been to the Labour
Board and have never gotten any
satisfaction," said Ms Bain, who
sat inside pleading her case to
officials. This is my third time and
every time they tell me they are
going to look into it. I worked
hard for my money and I am tired
of being treated like a nobody.
"Without my vote the govern-
ment would not be here today.
Foreigners can collect a cheque
and I am a Bahamian and can-
not get anything...but there is a
God a above," she said.
Mr Brown said that govern-
ment expected to complete the
payout process on Thursday.
However, he said anyone who
does not collect their cheques
could do so at the Public Trea-
sury Office in Freeport.


SANTA along with St Cecilia MP Cynthia Pratt hands out gifts to youngsters
in the constituency yesterday as part of the annual 'Toys for Tots' campaign.

Bahamas earning less from

cruise visitors than Caribbean

rivals, Minister tells senators
THE time consuming process of disembarking passengers is
one of the reasons the Bahamas is earning far less from cruise vis-
itors, according to Minister of State for Immigration Elma Campbell.
"We are indeed doing a better job in getting people to come to
our country, perhaps more than in other British speaking Caribbean
countries, but it seems that we are earning far less from cruise vis-
itors," Senator Campbell told the senate yesterday during the sec-
ond reading of a bill for an act to amend the law relating to immi-
gration. The cruise industry is presently a $17 billion market.
Senator Campbell noted that in the Bahamas passenger and
crew expenditure is equalling about $58 per person. "Some of this
is believed to be the result of the need to diversify the tourism
product. We need to improve the condition of Bay Street and the
Nassau harbour and both of these are receiving the attention of the
government," she said.
"Some of it we believe is also due to the lack of opportunity. After
satisfying the requirements to disembark, passengers seem not to
have sufficient time to spend on shore," she said. Senator Campbell
noted that the current procedure by which passengers and crew com-
plete and present immigration cards is considered to be time con-
suming and delays the disembarkation process."
Senator Campbell noted that the bill allows for the master of a
cruise ship to electronically transmit the immigration manifest list-
ing relevant information on passengers and crew members prior to
those persons entering and departing the Bahamas. "The imple-
mentation of this electronic submission of the manifest would
enable cruise passengers and crew to have expedited clearance and
landing," she said. Senator Campbell noted that the process would
ultimately allow cruise visitors to spend more time on shore.


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PAGE 2, FRIDAY, DECEMBER 21, 2007


THE TRIBUNE








FRIDAY, DECEMBER 21, 2007, PAGE 3


THE TRIBUNE


LOCALINI


0 In brief


Public safety

still a govt

priority, AG

tells Senate

* By Clunis Devaney
ATTORNEY General Claire
Hepburn said in the Senate that
when it comes to public safety,
"the government will not be dis-
tracted from its commitment to
the Bahamian people."
Mrs Hepburn said the Bill to
amend the Juries Act "is only
part of that commitment."
On Wednesday she moved for
the second reading and commit-
tal of the bill to allow for smaller
juries in non-capital cases.
"We say that it is related to
public safety because the jury
system is a critical component of
the entire criminal justice sys-
tem," said the attorney general.
"Ultimately all of the serious
criminal matters brought before
our courts, which are not with-
drawn or in respect of which the
defendants do not plead guilty,
will have to be determined by a
Bahamian jury, composed of
men and women entitled to vote
in this country and not otherwise
disqualified or exempted from
jury service.
"This is an entrenched consti-
tutional right, which this amend-
ment does not in any way inter-
fere with."
The amendments are designed
to achieve four things:
decrease the number of,
jurors in non-capital criminal cas-
es from 12 to nine. Capital cases
in Bahamian law involve charges
of murder and treason.
decrease the number of
peremptory challenges from 10
to seven in all non-capital cases.
A peremptory challenge is a
process by which a defendant or
his attorney can remove a juror
without giving a reason for that
removal. -
continue the requirement for
majority verdicts to be two-thirds
of the jurors. As the empanelled
jurors would be nine, a majority
verdict would be a minimum of
six jurors agreeing to the verdict
of guilty or not guilty. A verdict
of five to four, would not consti-
tute a verdict.-
in the event of a juror dying,
becoming ill or not appearing for
another reason after being
empanelled, the bill will allow
the judge discretion to continue
with eight jurors, instead of hav-
ing to discharge the jury.
Developers
blocked from
proceeding with
condo phase

DEVELOPERS of a contro-
versial condo project in Abaco
have been told they can't pro-
ceed with a disputed third
phase.
Central Abaco District Coun-
cil is to modify plans for the 12-
unit development at Marsh
Harbour's ferry dock, reducing
it by four units.
The move came after locals
appealed against the size of the
Crossing Waterfront Condo-
minium development, which
they claim is too close to the
shoreline and too big for its site.
They also alleged that there
were discrepancies in measure-
ments for the development
area.
Administrator Cephas Coop-
er has written to the Nassau-
based development consortium
outlining the council's decision.
An appeal against the council
decision is expected to be
lodged.
A source told The Tribune:
"The council wants to modify
the application from three
buildings to two buildings based
on the appropriate density for
this piece of land."

Journalist to
sign copies of
his new book


JOURNALIST John Mar-
quis will be signing copies of his
new book, Papa Doc, Portrait of
a Haitian Tyrant, at Logos
Bookstore, Harbour Bay Shop-
ping Centre, tomorrow at 11am.
The signing session was post-
poned from last Saturday.


Church members likely to protest today



over ordination of pastor's daughter


* By KARIN HERIG
Tribune Staff Reporter
kherig@tribunemedia.net
MEMBERS of the First Baptist Church
are expected to hold a demonstration
today in protest of what they consider to
be the wrongful ordination of the daugh-
ter of the church's current pastor Dr Ear-
le Francis.
Rev Harold Bodie claimed in a state-
ment yesterday that Rev Dr Francis had
told the church that the executive board
"unanimously" elected his daughter Diana


Francis for the position of pastor and that
she would take office immediately after he
demits the post.
Her installation as pastor elect is sched-
uled to take place this evening at 7.30pm
at the First Baptist Church on Market
Street and Coconut Grove.
Rev Bodie yesterday said that many
active church members are opposed to
the installation because there was alleged-
ly "total disregard" for the procedure set
out in the "Memorandum and Articles of
Association."
"More particularly, the membership of


the church were not given reasonable
notice of four weeks as stated in the arti-
cles of association, nor were they given
the opportunity to nominate and vote on
who should be their pastor elect," he said.
Rev Bodie said he is asking church
members not to attend the installation
ceremony "as it is not in accordance with
the articles of association nor the will of
God."
Attending the installation of Rev Diana
Francis, Rev Bodie said, would be con-
sidered "an affront to the (church) mem-
bership's democratic right to be able to


Bishop Simeon Hall to serve as Crime Council chairman


SENIOR pastor of the New
Covenant Baptist Church Bishop
Simeon Hall has been appointed
to serve as chairman of the
National Advisory Council on
Crime.
Bishop Hall will be assisted by
Arlene Nash-Ferguson, Dr
Vicente Roberts, Felix Stubbs,
Carlos Reid, Rev Dr Ivan Butler,
Frank Comito, Dr Michael
Neville, Chief Superintendent of
Police Hulan Hanna, Maria Scott
(representative of victims and
families of victims) and Anastar-
cia Huyler, president of the Col-
lege of the Bahamas Union of
Students.
Minister of National Security
Tommy Turnquest said on
December 19 that the establish-
ment of the NACC was one of
the principal recommendations
of the National Assembly on
Crime.
He said the council is not
"seeking to reinvent the wheel"
but will be responsible for ensur-
ing that the wheel "is properly
oiled so that it will function at
the optimal level."
Mr Turnquest said the NAC-
C's role will be to provide direc-
tion for the implementation of
the recommendations of the
National Assembly on Crime; to
review and incorporate into its
work the previous and ongoing
initiatives in the area of crime
prevention and criminal justice
and to sustain public dialogue
nation-wide on strategies for a
more peaceful and stable
Bahamas.
Organisers say it will also be
responsible for providing input
on national policies and pro-


grammes to reduce crime and
criminality, particularly in the
area of crime prevention and
criminal justice, and will work
with government and stakehold-
ers to bring forward new and
practical proposals for halting
and reversing crime trends.
The council will also spear-
head the development of a


national strategy to tackle crime.
"The persons selected to the
National Advisory Council on
Crime are persons who are wide-
ly known and respected in the
Bahamas and abroad because
they have distinguished them-
selves in critical aspects of nation-
building and have taken decisive
and courageous stances on mat-


pray, nominate and elect theif spiritual:.
leader." "We will be voicing our displea-
sure by a peaceful demonstration,dusing
the said installation in front of the .hifrch,"
he said. Rev Bodie emphasised that there
is no opposition to Rev Dr Earle Francis
or to his daughter in principle, but that-
the church members simply wish to have
the correct procedure followed-and-"for---
the people to have a say by deciding this
crucial undertaking." ..-1-...
The Tribune's calls to Rev Df'iFrancis
were not returned up until press time last
night.


ters of importance to our country
and our people," Mr Turnquest
said. He said the council is
expected to be "an important
bridge" between the work of the
National Assembly on Crime
and the many invaluable initia-
tives past and ongoing in the
area of crime prevention and
criminal justice.


MW. "M


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2007 KPMG, a Bahamian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights'
reserved. ---------



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PAGE 4, FRIDAYODECEMBERT21, 007 THEETDIBON


The Tribune Limited
NULLIUS ADDICTS JURARE IN VERBA MA GISTRI
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
Freeportfax: (242) 352-9348


A compromise at last- but more needed


WASHINGTON The energy bill that
President Bush signed this week, with Speaker
Nancy Pelosi at his side, was not perfect. It had
something for everybody and not much for any-
body, but at least it had the charm of moving the
administration slowly in the direction of reduc-
ing greenhouse gas emissions.
It was, by golly, a genuine political compro-
Sie a word never known previously to pass
president's lips. It reflected the fact that
*i, energy problem has festered for so long
~ tatl it has become impossible to ignore. The
big automakers and their political allies in Con-
gress finally have faced up to the fact that the
industry is in deep economic trouble those
;ga,-guzzling monsters, the SUVs, are not hot
,~ imodities any more.
- ;l'he rising price of fuel has finally taken its toll
aain is driving more and more consumers to
smaller, fuel-saving vehicles. The final bill deliv-
ered to the president at the White House today
was appropriately driven there in a Prius.
The president could afford to bow slightly
because he also basically won a simultaneous
fight over continued funding for the wars in
Iraq and Afghanistan, denying the Democrats
their demand to attach a timetable for mea-
sured withdrawal.
He also had made his own popularity-seeking
pitch for more biofuels support to end American
"adIdiction" to oil in his last State of the Union
speech. Not that sticking with previous public
pronouncements is his long suit. Anyway,
there's now actual legislation. That's not an
end, but a law is a start.
Then with superb timing, his Environmen-
tal Protection Agency administrator, Stephen
Johnson still following the old White House
playbook promptly rejected a California
request for approval to enforce limits on the
state's greenhouse gas emissions that are
tougher than federal standards.
California and 18 other states have proposed
their own emission control standards, but they
need federal approval to enforce them.
The EPA chief said that granting California
permission would merely set up a "confusing
patchwork of state rules" all over the country, a
flimsy excuse protested by many environmen-
talists and state officials as legally and techni-
cally unjustified. That silly sideshow is headed
for the courts, and further delay.
The bipartisan bill passed the House by a
healthy vote of 314 to 100, the only real step
toward new efficiency standards since the ener-
gy issue came knocking on our door in the
1970s.
As usual on Capitol Hill, it was a bit late and


a bit little. But in politics you take what you can
get. And the time was certainly ripe.
The president has no credibility on any sub-
ject but Barney and Laura. He needed a show of
something that resembled an exercise of presi-
dential power. The Democrats, in the majority,
are frustrated by the muscular GOP minority's
ability to filibuster their proposals and were
happy to settle for a slice, if not a loaf, of bread.
The bill actually isn't half-bad, considering the
difficulty of getting it to this point. It will slow-
ly change the nature of the cars we drive, the
way we light our homes, and the price we pay
for food. It won't be a new world, exactly, but it
will be a slightly altered one. And, hopefully, a
better one.
It will increase auto efficiency requirements,
to meet an average of 35 miles a gallon by 2020.
The standard is now only 27.5 gallons for cars
and 22.2 for light trucks, SUVs and other road-
hogging beasts.
That's good. But it will not require utilities to
produce a growing share of electric power from
renewable sources nor will it contain subsidies
from the oil industries for wind, solar, geother-
mal and other alternative energy sources,
because President Bush threatened to veto such
a provision. That's bad.
And it ducks the nuclear energy problem,
which nobody knows how to solve without stuff-
ing barrels of potentially dangerous leftover'
radioactive waste into Yucca mountain in Neva-
da, home to Senate Majority Leader Harry
Reid, D-Nev., who naturally hates the idea and
will not let it happen.
The law, however, will help farmers and
agribusiness, doubling the stability level of the
weather-driven farming life through support
for research and marketing of corn-based
ethanol, It could increase some farm produce
prices but that is only fair in a market-based
economy.
The law includes new standards for office
building lighting fixtures and ordinary bulbs
for households. None of this takes effect until
2030, but the fact it is on the books is fresh
incentive to plan ahead. This new seriousness is
related to all the evidence of climate change
around us, which can no longer be denied except
by Bush administration idiots and Sen. James
Inhofe, R-Okla., who calls global warming a
"hoax."
Al Gore had a lot to do with forcing this
issue on the public, and the Congress, and sham-
ing Bush into a compromise. Good for him.
(This article was written by Marianne Means
of Hearst Newspapers c.2007).


Thanks for an




outstanding




reception at




junior junkanoo


EDITOR, The Tribune.
THE junkanoo coordina-
tors, teachers and students
of Jack Hayward High
school who participated in
the recent parade extend our
heartfelt thanks to the Bay
Street spectators for the out-
standing reception we
received as we rushed with
much energy, gusto and
enthusiasm down Bay Street
late Thursday evening. The
kids made a good effort to
obey Mr Butler's instruction
to "break up the costumes
on the first lap".
We say a special thank you
to those who stayed for our
second lap Friday morning
after 1.00am. Your support
was greatly appreciated. You
nfade us feel at home. Thank


you for the words of encour-
agement and advice along
the way. It made us proud
to be Bahamians as we
shared this cultural experi-
ence with you.
Audrey Taylor, you were
our angel. We thank you for
the five cases of water and
the fruit platter. Your kind-
ness and thoughtfulness will
always be remembered.
(Drinks provided at the end
of the route for participants
were not available to us).
Thanks Nassau for mak-
ing Junior Junkanoo an
enjoyable and memorable


experience for all of us. We
really felt that we had
achieved a high standard of
appreciation because our
female dancers were invited
by a senior group to perform
in the New Year's Day
parade.
It is regrettable that the
viewers at home in Nassau
and the islands of Grand
Bahama and Eleuthera were
unable to view Jack Hay-
ward High School and Har-
bour Island All-Age as they
represented their islands on
Bay Street.
DELORES KELLMAN
Senior Mistress
Jack Hayward
High School
Nassau,
December 15, 2007.


EDITOR, The Tribune.
WELL hear we go again with political spec-
ulations this time as to whether Rt Hon
Perry Christie should resign as Leader of the
PLP?
After any general election in the traditions of
Westminster, the mother of Parliaments, the
leader of the party, especially if he was the
incumbent Prime Minister, who loses by tradi-
tion will resign the leadership of the political
party.
There is substantive evidence that if Mr
Christie insists and remains as Leader of the
PLP and it is reasonably sure Prime Minister
Ingraham will try to increase his majority with-
in eight to 12 months, I predict the PLP will
lose and lose the majority of the current seats
as the indignation and annoyance is still excep-
tionally strong within the rank and file of the
PLP and the country which was the root cause


of why the PLP lost in May, 2007.
Whilst dealing with Mr Christie, if the PLP
think that Dr BJ Nottage is the solution then
believe on like Christie Nottage will be cast
aside for the same reasons. Recall Nottage was
Deputy Leader of the PLP, left and formed
the CDR and fought like hell to defeat the
PLP the rank and file of the PLP will not
forget as with Christie.
Mr Christie should not fool himself that he
should remain as in both the short and long
term this will keep the PLP out of office for at
least three-four terms (14-15 years) of Parlia-
ment.
Do the right thing Mr Christie bow out now
for the good of the PLP and stop fooling your-
self.
J RAHMING
Nassau,
December 15, 2007.


jirst aBaptiet GCburcb


"Earth Changes, But God And
His Word Stands Sure"
SUNDAY SERVICES
7:00am, 9:00am, 11:15am
PASTOR EARLE FRANCIS J.P.,D.D.
Marriage Officer, Counsellor, Intercessor
Phone: 323-6452 393-5798
Fax: 326-4488/394-4819








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City Dump should

be free of charge


EDITOR, The Tribune.
CHARGING people to use
the City Dump only encour-
ages them to dump in free
areas such as the lovely bush
block (home to many birds)
in my neighbourhood. If
dumping were free, I wonder
if I would have to suffer such a
mess.
During December when
refuse is at its peak, why not


pay people to dump at the
City Dump, thus encouraging
those in need of a few dollars
to clean up our island.
Garbage is not just ugly and
shameful, it is a health haz-
ard.

SARA APPLETON
Nassau,
December, 2007.


Applicant must be reliable and loves
children phone 325-1802 or
323-3135, 9:00am 5:00pm


Christie should




bow out now for




.good of the PLP


, 4 4 42 47 436


I


PAGE 4, FRIDAY, DECEMBER 21, 2007


THE TRIBUNE








THE TBFD, C E


Annual Christmas

luncheon hosted by

Governor General
LEFT: Cabinet members pose for
an official group photograph at
the annual Christmas Luncheon
at Government House hosted by
the Governor General Arthur D
Hanna, centre (on carpet), with
the Prime Minister and Minister
of Finance Hubert Ingraham, cen-
tre right, on Thursday December
20, 2007.

BELOW: Governor General
Arthur D Hanna, left, greets
Prime Minister and Minister of
Finance Hubert Ingraham (centre)
and Deputy Prime Minister and
Minister of Foreign Affairs Brent
Symonette at the annual Christ-
mas Luncheon


~T.* 4 ____-


The Meaning of Christmas


Christmais is not about what one receives.
It's about what one believes,
Christmas is ot about popularity.
It's about charity,
Christmas is nol about w\valcllin dep)t eLsing events on TV,
It's about being happy,
Clu istmas is not about the prc-,cnls you gel,
It's about the presents that you give,
Christmas is not about lhow lucky you are,
It's about making others feel like a star,
Christmas is not about who you spend time with.
It's about who you make a difference with,
Christmas is not about how important you are,
It's about how important your friends and family are,
Clhi islimas is not about tile size or Iumbeei of presents,
It's about the warmth in your heart when you give,
SChristmas is not about a popular toy,
It's about family joy,
The number of gifts you get doe, not say \ ho you are,
g The number of gifts you give says who you are,

The joy of Christmas is sharing love and kindness with
family and friends and putting a smile on the face of a
total stranger because of your goodwill and charity.


L Merry Christmas & l(ayyy p New Year

es Media aratry
Holiday Hours

riay eemer ye tiym
atray eemer Cse
tay 'r eemer Cse Christmas e
esay t' eemer Cse Christmas
eesay eemer Cse i a

Shrsay h eemer am ym
riay eemer am ym
atray t eemer am .m
S May eemer am ym Ilfew Years e
esay '" aary Cse 'few Years ay
eesay aary am pm


SCOTIABANK yesterday
announced that Barry Mal-
colm has been appointed man-
aging director of the bank's
Bahamian operations.
"Barry is an outstanding
leader who has spent his pro-
fessional career promoting
and developing business in the
Bahamas," said Pat Minicucci,
Scotiabank's senior vice pres-


ident for the Caribbean. "Bar-
ry's strength of character and
breadth of experience will
benefit all of our Bahamian
stakeholders; customers,
employees and community
partners alike."
Mr Malcolm, who has
served as a member of Scotia-
bank Bahamas' board of
directors, is a prominent mem-


ber of the Bahamian commu-
nity, having worked with the
Bahamas Financial Services
Board, the Grand Bahama
Port Authority, and most
recently as chairman of the
Broadcasting Corporation of
the Bahamas and president of
Global Fulfilment Services, a
strategic business and eco-
nomic development company.
"With more than 650
employees and a network of
20 branches and 57 Automat-
ed Banking Machines
(ABMs), which extend to the
islands of Abaco, Andros,
Eleuthera, Exuma, Grand
Bahama, and Long Island,
Scotiabank Bahamas helps
Bahamian customers become
financially better off by offer-
ing a full range of retail, cor-
porate, and commercial bank-
ing services," said Scotiabank
in a statement. "The bank also
provides wealth management
services including investment
management, brokerage, and
private banking."


Share

your

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


I I i


m

E
I-
i|


Scotiabank have appointed


BarryJ Malcolm as managing

director of Bahamian operations


THEMALLAT

MARATHON
Tel: 393-4043

Open tonight
until Op10,m,


(~


FRIDAY, DECEMBER 21, 2007, PAGE 5


THE TRIBUNE








PAGE 6, FRIDAY, DECEMBER 21, 2007 THE TRIBUNE


PLP'S YOUTH ARM ATTACKS RULING PARTY'S PERFORMANCE SINCE ELECTION


FNM record


The Free National Movement's
record since the May 2 general elec-
tion "is completely unacceptable"
according to the youth amn of the
opposition PLP.
The Young Liberals said in a
statement that there is "absolutely
no comparison" between the Pro-
gressive Liberal Party's first seven
months in power following the 2002
election and the performance of the
present government thus far.
"In the House of Assembly, the
FNM has only tabled four legislative
proposals; including the Budget, the
Prime Minister's Pension Bill, a bill
to allow security at the airport to
be contracted out and the Juries
Amendment Bill," said the Young
Liberals. By comparison, the group
said, the PLP in the same amount of
time brought to the House:


The Budget, including $116 mil-
lion in supplementary appropria-
tions related to the previous FNM
administration
The Lotteries and Gaming
Amendment Act "to improve the
competitiveness of our casinos"
The Amendment to the Tariff
Act to allow for the duty free impor-
tation of new taxis, jitneys and liv-
eries
The amendment to the Passen-
ger Tax Act to include departure
tax in price of airline tickets in an
effort to ensure better and more
timely collection
The Real Property Tax
Amendment Act to raise the ceiling
for exemptions from real property
tax from $100,000 to $250,000
The Amendment to the Stamp
Act to allow stamp tax exemption
.- -. -- "


for first time home
buyers on houses
valued $250,000 or
less
I The establish-
ment of the Edu-
Brent national Loan
Symonette A u t h o r i t y
throughout the
Educational Loan Authority Act.
The Family Islands Develop-
ment Encouragement Amendment
Act to allow duty free imports to
certain Family Islands
The Amendment to the Finan-
cial Transaction Reporting Act
The Young Liberals said most of
these bills were intended "to bring
help and hope to ordinary hard-
working Bahamians and to secure
the revenue needed to operate the
government without putting any
S 1T.,


additional burden on the t
er."
The group said the PL
introduced some proposals
isolation and allowed them to
on the agenda of the House
their consultation. These incl
Engineers Bill, the Co-ope
Bill, The Business Licence A
ment Act to allow for tem
business licenses, the Nation
Gallery Bill and a Bill to r
daycare centres and prescho
"The Progressive Libera
wasted no time serving the
of Bahamian people upon w
the government in 2002, in c
to the FNM who have spent
month on the debate of the
mentary appropriations, a
which only consisted of arguir
money already spent to ben


* By Sylvia
Laramore-Crawford

If you have never heard of
Father Chester Burton,
the young and highly energetic
new priest-in-charge of St Sav-
iour's Parish on Cat Island,
keep an ear open. He is a
livewire.
Anglicans from north to
south Cat Island have been
energised, and returning to the
church. He is obviously a peo-
ple's priest, and his parishonsrs
as well as people from other
denominations have fallen in
love with him.
Archdeacon I Ranfurly
Brown, when telling us about
him, informed the church that
Father Burton is a single man,
"and if he is seen talking to a
young lady, please mindyour
business, and for heaven's sake,
don't call him."
Father Burton is also a very
good mixer he seems com-
fortable wherever you find him.
Like all the other priests before
him, he travels from church to
church to speak to his flock.
Luckily for him, retired faith-
ful priest Father Edward Sey-
mour is still around to assist him
and other priests from Nassau
often come over to help by
preaching the sermon for the
day.
Father Burton is reorganizing
the church and encouraging
members to play a part in mak-
ing the church a place of enjoy-
ment. He is certainly a motiva-
tor.
Sunday School is now held at
St Peter's in Knowles at 10am
Sunday and St Andrew's in
Arthur's Town, also on Sun-
days, at 10am, and it is a bless-
ing fo see more children attend-
ing.


-hd~


unacceptable'

axpay- Bahamian people during the previ- launched and moved by the PI
ous administration." in which the FNM is now trying
P also The group noted that FNM chair- take credit for.
for leg- man Johnley Ferguson has said that "The eMedical announcement
remain with his party's rise to power, "all made by Dr Minnis (the minis
for fur- the under table dealings have come of health) this week and the ePa
ude the to a stand still", port announcement made by
ratives But the Young Liberals claim this Symonette (the deputy prime m
.mend- is a tactic to cover the FNM's inep- ister) last week are only two exa
porary titude. ples of this.
nal Art "We implore Mr Ferguson to "Not to mention that over t
gulate provide evidence of these 'under past few weeks, this administrati
Party the table dealings' that he speaks has been visiting the same devel(
needs of," the group said, reiterating past ments that they claimed they col
inning claims of mismanagement and not see with binoculars, and bre
contrast. cronyism when the FNM were last going about how good they will be
the last in office before 2002. the economy.
supple- "The evidence is quite clear, and "We want to remind the gove
debate the facts indisputable. The only ini- ment that the GINN, Bakers B
ng over natives that the FNM has flaunted as and I Group projects were PLP i
efit the of late have been programmes tiatives," said the Young Libera


Other areas of work in the
church are being better organ-
ised.
With Christmas almost
upon us, it's still good to reflect
back on Thanksgiving and Cat
Island's event of the year at Fer-
nandez Bay.
A full house of Americans
and a sprinkling of other nation-
alities were there, with resort
owners Anthony and Pamela
Armbrister playing hosts.
Their guests are generally
"not only rich but very rich"
repeaters who fly in year after
year. Many are known interna-
tionally.
Former CNN anchorman
Myles O'Brien was there with
wife Cindy, an artist, and aero-


batic pilot Patty Wagstaff was
also among guests. Cat Island's
appeal is clear. "Where else
nowadays can one go and feel
safe and happy at the same
time," asked one regular.
Jets filled New Bight Airport
- always a sign that the good
times are rolling!
Cat Island roads are' sill
blighted by pot-holes following
Tropical Storm Noel, which left
roads flooded and home lots
waterlogged.
No-one could travel through
Dean. Friends of mine had to
use the back road by Old Bight
School to get to Greenwood,
where thery were beautifully
received. But the holes are still


Teachers and Salaried

Workers Co-operative Credit

Union Limited


NOTICE

TO OUR VALUED MEMBERS


OUR H LA, YHOURS
DEC E 27 JANUARY


Month/Date


Friday, December 21, 2007
Monday, December 24, 2007
Tuesday, December 25, 2007
Wednesday, December 26, 2007
Thursday, December 27, 2007
Friday, December 28, 2007
Monday, December 31, 2007
Tuesday, January 1, 2008
Wednesday, January 2, 2008


Details


1/2 Day/Closed from 1:00pm
1/2 Day/Closed from 1:00pm
CLOSED
CLOSED
OPEN Regular Hours
OPEN Regular Hours
1/2 Day/Closed from 1:00pm
CLOSED
OPEN Regular Hours


2P,
to
ent
ter
'ss-
Mr
in-
m-
:he
ion
op-,
uld
ag-
for
rm-
lay
im-
ls.


Meet the people's priest


Energetic minister has motivated

Anglicans to return to the church


On Sunday, December 30, 2007, beginning at 11am, the
rededication of the recently renovated St Mark's Anglican
Church in Port Howe in deep south Cat Island will take
place.
Archbishop Drexel Gomez of the Bahamas and The Turks
and Caicos Islands will preach the sermon.
Archdeacon I Ranfurly Brown is also expected to attend.
The public is invited.


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


Notice


Sanpin Motors &


Friendly Ford Motors

Thompson Blvd, Oakesfield





CHRISTMAS HOURS



Will Be CLOSE Monday December 24th

Christmas Eve

Will Re-OPEN Thursday December 27th 8am




NEW YEARS HOURS



Will Be CLOSE Monday December 31st 2007

Will Re-OPEN WednesdayJanuary 2nd 2008







The Shareholders & Directors wish Our

Customers Past, Present &

Future a most Blessed Christmas &

God Filled New Year.


I


THE TRIBUNE


PAGE 6, FRIDAY, DECEMBER 21, 2007








FRIDAY, DECEMBER 21, 2007, PAGE 7


THE TRIBUNE


LOCAL NEWS


Bahamas set to host 'important' CHA conference


* By Llonella Gilbert

ALTHOUGH the world
tourism market is growing,
Carribbean tourism continues
to stagnate according to a top
regional industry official.
Chief executive officer of
the Caribbean Hotel Associ-
ation (CHA) Alec Sanguinet-
ti noted that this year has been
a challenging one for the
region.
"Today's traveller is far
more sophisticated because of
the wealth of information
readily available to them just
through the Internet," he said.
"Therefore, their ability to
make choices from far greater
alternatives than they had
years ago is part of the diffi-
culties and part of the compe-
tition we face."
He said Caribbean toursim
experienced very little growth
in 2006 about one per cent
based on figures from the
Caribbean Tourism Organisa-
tion.
Speaking at a press confer-
ence in Nassau announcing the
dates for the Caribbean Hotel
Association Marketplace 2008,
Mr Sanguinetti added that the
CHA not anticipating much of
a change this year.
"So this event gives us the
opportunity to really demon-
strate to the right now over
134 buyer companies from 35
countries around the world
that we are competitive and
we have an excellent product,"
he said.
Mr Sanguinetti also noted
that buyer companies from the
35 countries include emerging
markets like Russia, Czecho-
slovakia, Hungary and Poland.
He explained that the event
is not a trade show, but actu-
ally two days of business
appointments which are sched-
uled by computer.
Mr Sanguinetti added that
a record number of appoint-
ments are expected this year.
Also in attendance at the
press conference was Execu-
tive Vice President of the
Bahamas Hotel Association


THE Bahamas will host the most important marketing
event of the year as it sets the tone for travel packaging in the
Caribbean, said Director General of Tourism Vernice
Walkine.
The Caribbean Hotel Association Marketplace will be held
from January 13 to 15,2008, at the Atlantis Resort on Paradise
Island. The last time this event was held in the Bahamas was
in 2000.
"In excess of 1,500 buyers and suppliers of tourism products
in the region are expected to attend this premier Tourism Mar-
ketplace," Ms Walkine said. "The event attracts internation-
al buyers and suppliers of Caribbean tourism products from 35
countries and a large number of international trade press
representatives."
The Caribbean Hotel Association Marketplace brings
together in one location the major industry players including
hoteliers, airlines, car rental companies, ground handlers,
qualified tour operators and wholesalers, the director gener-
al explained.
Expedia, Travelocity, GoGo Vacations, Travel Impres-
sions/American Express Vacations, American Airlines Vaca-
tions, US Airways Vacations and Delta Vacations will all be
in attendance at the marketplace.
Ms Walkine said all of these companies bring multi-million
dollar revenues to the region and the Caribbean wishes them
to continue to increase their business.
"Over the course of the marketplace, buyers and suppliers
will meet face-to-face to discuss existing contracts, develop
new packages and enter contracts for future business."
Ms Walkine explained that the success of the negotiations
during Marketplace 2008 will translate into resort bookings at
Caribbean destinations including the Bahamas over the next
12 months.
"We are pleased that the event is happening in the
Bahamas, as it provides an opportunity for us to have the buy-
ers and sellers of our multiple-island destinations experience
first hand the variety and diversity of the islands of the
Bahamas.
"The hosting of Marketplace 2008 represents for the islands
of the Bahamas a singular opportunity to showcase many of
our resort properties along with our touristic attractions,
resort amenities and cultural and heritage sites to a group of
people who are responsible for a significant amount of our
annual tourism bookings," Ms Walkine said.


(BHA) Frank Comito. Mr
Comito said a number of local
entities including several min-
istries and three promotional
boards have worked together
to make the marketplace a
successful one.
He also noted that most of
the member hotels of the
BHA will be represented, and


individuals will have the
opportunity to explore
upgrades at hotel sites in the
Bahamas.
Mr Comito noted that a
number of journalists, buyers
and suppliers will be "coming
earlier and leaving later" to
be able to taste and experi-
ence the Bahamas.


McAlpine 'embarrassed'

by opposition objections

to proposed jury changes


* By KARIN HERIG
Tribune Staff Reporter
kherig@tribunemedia.net

FNM SENATOR Rev Fred-
erick McAlpine said he is
"deeply embarrassed" by the
refusal of members of the
opposition to support the
Juries Amendment Act.
The Act, read in the Senate
on Wednesday, seeks to
reduce the number of jurors
'from 12 to nine in non-capital
, trials. Rev McAlpine said the
amendment is "but a step in
the right direction to fix that
which has been broken in our
country for a very long time."
He said the former PLP gov-
ernment was responsible for
the fact that more than 100
persons accused of murder are
out on bail, "because they,
through the Office of the
Attorney General, failed to see
to it that these persons were
put to trial within the reason-
able time-frame. That's unac-
ceptable," he said.
Senator McAlpine said the


opposition is now criticising
the new government for not
having solved the problems of.
the country's judiciary, when
the former administration had
five years "to do what they're
telling us we must do in seven
months."
"Yet they refused to do it
themselves when the opportu-
nity presented itself," he said.
Rev McAlpine acknowledged
that the judiciary has had prob-
lems throughout the years, but
said that when the PLP were in
office, they made matters
worse in the legal system.
"Never were these days seen
under the Pindling or Ingra-
ham government. That's just
the indisputable fact.
"You know they wouldn't
admit this: the Office of the
Attorney General and the judi-
ciary of this country suffered
much neglect under our pre-
decessors," he said. However,
since May 2 this year, the dif-
ficulties of the judiciary have
become the FNM's problem,
he acknowledged.


Local Media House has a
vacancy for a Broadcast
Journalist / News Reporter


The successful candidate should
following qualifications:

* Minimum of 2 years experience


possess the


* Must have a good understanding of news
gathering & production
* Must be an enthusiastic self starter
* The ability and willingness to learn
* Must have own transportation

Please submit resumes to:
The News Director
Island FM
P.O. Box N-1807
Nassau, Bahamas
Fax: (242) 356-4515
E-mail: reporter@islandfmonline.com


w ORTER








THE TRIBUNE


PAGE 8. FRIDAY. DECEMBER 21, 2007


I


Friday, December 14
Monday, December 17


Friday, December 14
Monday, December 17


SFriday, December 21
Monday, Tuesday & Wednesday
December 24, 25 and'26
Thursday, December 27
Friday, December 28
Monday, December 31
and Tuesday, January 1
Wednesday, January 2


Closed at 11:30am
Normal business hours resume


Closed
Normal business hours resume


Normal business hours

Closed
Normal business hours resume
Normal business hours

Closed
Normal business hours resume








Ba ha i i ; all
(1 MBOOL LRI


FAMILY GUARDIAN
U INSURANCE COMPANY LIMITED

ACO & ELEUTHERA CORPORATE CENTRE: EAST BAY STREET, NASSAU P.O. BOX SS 6232.


'Bahamas Against


Crime' directors meet


with Governor General


THE board of directors of
'Bahamas Against Crime'
met with Governor General
Arthur Hanna to discuss the
growing problem of vio-
lence and criminality in the
Bahamas.
During the visit, the board
shared details of its nation-
al anti-crime campaign.
Bahamas Against Crime,
sponsored by the Council
for Social and Economic
Reform, the Bahamas
Christian Council and Civil
Society Bahamas, is a pri-
vate sector project which
aims to embrace all resi-
dents of the Bahamas.
Organisers say it will
closely follow the model
established by Hands
Across the Bahamas held in
1988.
They say the initiative
aims to:
Encourage a change of
mindset concerning crime
and violence
Assemble residents on
every major island to link
hands in a unified stance
against crime
Raise funds to be used
in the fight against crime
The first phase of the pro-
ject will last for several
months and will include: an
ecumenical service, a cul-


Problem of

violence is

discussed

tural extravaganza; anti-
crime art, song and essay
contests, and an anti-crime
T-shirt day.
The finances will be con-
trolled by the Bahamas
institute of Charted
Accountants and an audited
financial report will be pre-
pared by Deloitte &
Touche.
According to the group,
"Crime and violence in the
Bahamas will be signifi-
cantly reduced when each
resident acknowledges
his/her contribution in some
way to the current state of
affairs, recognizes that each
individual can indeed make
a difference and that collec-
tively we will not fail."
The board said individuals
will have several opportu-
nities to contribute finan-
cially, and appealed for vol-
unteers to serve on commit-
tees in New Providence,
Grand Bahama and the
Family Islands.


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\ D r i T r r T TE
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CORPORATE CENTRE, BAHAMAHEALTH, FINANCIAL SERVICES
& NASSAU SALES OFFICES


ALL OFFICES IN ELEUTHERA, ABACO & FREEPORT


CHRISTMAS BUSINESS HOURS FOR ENTIRE COMPANY


__


.. A

Share your news
The Tribune wants to hear
from people who are
making news in their
neighborhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an award.
If so, call us on 322-1986 .
and share your story.
SHOWN ARE (L-R): Fred Munnings; Rev CB Moss; Sir Durward
Knowles; Governor General Arthur Hanna; Rev Dr William Thomp-
son, (chairman); Sis Annie Thompson; and Ken Pyfrom.


j .1
t 4,







THE TRIBUNE FRIDAY, DECEMBER 21, 2007, PAGE 9


LOCAL NEPWS


Sa^law^fcimefop^^


Montaguchldpen^^B


Cf


it


*:- .,.- .-


FESIV SPRT:Lret'BterTrer(boean elw ictre wthMotauhidrn


Montagu Celebrates the Spirit
of Christmas is no doubt one of the
most magical seasons we celebrate.
And it was certainly magical for
scores of children from Montagu
when Santa along with their MP
Loretta Butler Turner pulled up to
the FNM constituency headquar-
ters for the annual Montagu Christ-
mas party.
As the story goes, Santa's trip is
usually and extremely long one all
the way from the North Pole.
On Saturday, December 15 how-
ever, not having to deal with a
sleigh and reindeer but instead
pulling up in a nifty golf cart San-
ta's journey began from the parking
lot of Queen's College School and
took all but a few seconds to arrive
at the constituency's headquarters
on Village Road.
Excited children rushed to jump
on Santa's knee, all anxious to tell
him (and Mrs Butler-Turner) about
how good they had been all year.
Supplied with age-appropriate
gifts, sandwiches and baked good-
ies, each child was then led out to
enjoy a play area that had been
outfitted with picnic benches, a
bouncy castle and an arts and craft
corner.


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FRIDAY, DECEMBER 21, 2007, PAGE 9


THE TRIBUNE


I
q


r


P







THE TRIBUNE


PAGE 10, FRIDAY, DECEMBER 21, 2007


A holy war is


n By ADRIAN GIBSON
ajbahama@hotmail.com

N The Bahamas, partic-
ularly Nassau, 90 per cent
of the churchmen and so-
I called pastors are merely
waging a holy war to empty the
pickets of Bahamians. Many pas-
tors have come to see religion as a
commercial opportunity and busi-
ness venture. Firstly, I would like
jo clarify that I have total respect
'i.g.dgnuine Christians. However,


though the Bahamas might be
referred to as a Christian nation, it
is not!
These days, the church appears
to be providing little if any moral
or ethical foundation for the coun-


try, as many churchmen are them-
selves living blatantly illicit
lifestyles. Scores of slick-talking,
money-grubbing and self-appoint-
ed churchmen in this country can,
in my opinion, only be likened to


YOUNG MAN'S VIEW

ADR I A N GI B SON


SEASON'S ^



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will close at 1 pm on Monday, December 24
and re-open on Thursday, December 27, 2007.


We will close at 1pm on Monday, December 31
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0, during the year. We look forward to your continued friendship and
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beingg

religious terrorists who are
doggedly fleecing Bahamians.
In Nassau, some church leaders
seem to have little to no interest in
assisting people in their commu-
nities or in converting sinners and
helping to save souls.
Ivoine Ingraham, a social
activist, said: "The church is miss-
ing the opportunity to be an oasis
for people who are hurting either
physically, mentally, socially or
whatever. The church should be
moved from large edifices to out-
side. Pastors need to go to the
people, because the majority don't
come to church! Real pastors go
to the highways and byways to
meet the people in their comfort
zones and speak to them at their
level. However, many of today's
high-faluting pastors don't want
to be seen mixing with these types
of people."
Every Sunday, it is sickening -
yet entertaining to watch the
theatrics of certain Bible-thump-
ing pastors as an endless sched-
ule of religious programmes are
broadcast on local TV channels.
During several of these striking
shows, parishioners are sometimes
seen lying in the aisles and kicking
their legs up in the process, dra-
matically fainting upon being
touched by a pastor, dancing in a
frenzy and/or supposedly speaking
in tongues while in a deep trance.
I reckon that the behaviour of
some churchgoers supports come-
dian Bill Maher's notion that these
dramatic stagings seem represen-
tative of a "neurological disor-
der."
There appears to be a cult-
like atmosphere at some
local churches. Brainwashed,
gullible and seemingly hypnotised
women form the core member-
ship of several of these cult-like
churches. Unfortunately, many of
these women blindly follow
church leaders while worshipping
them as if they were demigods.
It has been suggested that there
are numerous instances where
female parishioners have been
abused, called upon for sexual
liaisons and exploited by some
crooked religious men.
In discussing the Bahamian
(Christian) church, Mr Ivoine
Ingraham said:
"There are some genuine situ-
ations, but some guys have a show
going on. The glorification of pas-
tors has taken away from the most
important part of worship! Every-
body is trying to get a fancy title
and wear good clothes, butin all
of this, the people who are'restll
hurting are left out. The single
mother or young girl looking for
solace is exploited. And, many
times these pastors exploit their
naivete, take advantage of them
physically and violate their trust,"
Self-appointed false prophets
appear to have lost sight of the
purpose for which they might have
initially established their religious
organizations (God, charity and
saving souls).
Around town, flamboyant
churchmen are living a life of lux-
ury while their poor flock contin-
ue to reside in crime-riddled,
poverty-stricken inner city ghet-
toes. Tithes, which are supposed
to be used for charity purposes
and community outreach pro-
grammes, are used to support
extravagant lifestyles and line the


to


waged

pockets of some dodgy pastors. I to make people
have seen my fair share of clerics they will come
who strut around town like puffed over, 'til you d
up, pompous peacocks, left," he said.
I roared with laughter in the Religion an
barbershop this week when I always be separ
heard a song that bluntly pro- cians delve hea
claimed that there are "pimps in gious realm, it
the pulpit and it should be con- have no ideas
sidered a crime." Several clergy- clutching straw!
men have lost all humility and In the 2002
apparently forgotten the story of campaign, it wa
Jesus' clearing of the moneylen- tor of Mount Ta
ders in the temple, instead choos- op Neil Ellis, hi
ing to join the league of the mega- members to vot
rich by living in grandiose, mil- haul hip. During
lion dollar homes that have elec- office, Mr Ellis
tric gates, video cameras on site, eral government
attack dogs/security and a staff of tions and was
fooled followers that tenderly former PM's "
pamper and cater to their every this year's elect
need. Bishop's priva
I have been told that a certain name emblazo
pastor has more security than the (nose) was u:
prime minister, only leaving his to hop through
home in a chauffeur-driven luxu-
ry vehicle with a bodyguard and N eil El
an outrider car in tow. This is all descri
just distasteful and utterly pathet- life of a monk, 1
ic! to live a plush
One observer, who despised last decade or s
those pastors who milk their mem- to have gradua
bers, heatedly said: executive at C
"People are being persuaded to riches unlim
to put so much into the church, pastor.
but while some of these church It is interest
leaders are eating filet mignon and Sunday prog
drinking champagne, their poor appears in his n
members can't rub two cents in a royal robe t
together to buy rice. They are rob- goes through t
bing their congregation blind, liv- women excited
ing high on the (expletive) hog." down the chu
Spiritual dealers of false throw in their t
promises give their congregants so while blowi
an emotional high, which can be like a referee a
likened to selling a holy hit (much The pomp and
like cocaine) that energises con- Sunday shows
gregants because of false promis- story of the Piec
es that they would reap a bounti- gregants seem
ful harvest if they gave their him, while treat
monies. Essentially, people are Laughably, the
buying entertainment. Mount Taboi
According to Ivoine Ingraham: reserved for the
"The fire and brimstone First Lady Ellis
preachers prey on people's emo- Judging fror
tions you know, the jumping Bahamas credit
up and down, screaming and cry- division to a r
ing and they whip them into a among several
frenzy. While in that mood, they tures, Neil Ellis
strike their pockets! They are now for being an ast
vulnerable and the pastors have Lawrence R
them down and emotionally singing prophe
charged then they kick them what is referrt
and pick their pockets. water." Sure
"It's a game they play to prey required anyone
on the less educated and gullible. cles, so why is
Many people fall for these games, allegedly for sa
especially when a pastor says that The miracle
'when you give to the Lord, the appears to be th
Lord will give you 10 times over'. sion of the sna]
That is a psychological ploy used the 1890s, who


Chrirtmia Mesa ge









It~l~d~C, v^.-l i^ v l1L A_\l v -











Christmas is usually a time for togetherness, excitement
and celebration, but also a painful occasion for families
who recently suffered the lo&s of a loved one or
observe a similar anniversary date.

Keith, Kendal, Ivy, Monique, Sean, Bill, Datrick, Bernadette,
Glen, Demico and the professional caring staff of
Restview Memorial Mortuary and Crematorium extend
warm greetings this Christmas &eason to all, but especially
to the client families who have, and continue to express
confidence with our services. We say sincere
appreciation to you and that "Christmas is in the heart
of those that put Christmas in the air."


G"Cod has planted eternity in the human heart"
Ecclesiastes 3:11



..'- i^ r ~ > _t
tfi M A
A i --
w. ~ WE -


FREEPORT
11-A East Coral Road, P.O. Box F-42312
Freeport, Grand Bahama, Bahamas
Tel: (242) 373-1471 Fax: (242)373-3005
Page 340-8043


NASSAU
Robinson and Soldier Roads, Nassau, N.P., Bahamas
P.O. Box CB-12072
Telephone: (242) 394-8043/(242) 394-8047
Pagers: 340-8043/340-4424/340-8034* Fax (242)3408034


MRS. MARY BLYDEN, 81

Sof Trewlawn Garden off
Farrington Road will be
held on Sunday,
December 23rd, 2007 at
2pm, at Mt. Moriah
Baptist Church,
*: ., '" Farrington Road.
S- Officiating will be Rev.
Dr. Wilton G. Strachan.
Interment will follow in
the Lakeview Memorial
Gardens, J.F.K. Drive.

She is survived by her
children, Marilyn
Rahming, Godwin Blyden, Judy Wood, Alma Tinker,
Charles Isaacs, Jennifer Isaacs-Dotson, Andrew and
Antonio Coakley; sons-in-law, Patrick Rahming, Stanley
Wood; daughters-in-law, Cheryl Isaacs, Ellamae Blyden,
Loretta and Monique Coakley; grandchildren, Sean
Blyden Isadora Blyden, Rhondon Rolle, Nicole
Lightbourn, Natasha Cummings, Vanessa Wells, Ebone,
Ashley and Macario Blyden, Lakeisha, Kendra, Stanley
Junior and Kristoff Wood aa, Nakia EllisAntoine Tinker,
Nashtelka and Travis Thompson, Charles Junior, Channa,
Chinue, and Cherri Isaacs, James Clarke, Kitlyn, Kadyn,
and Tayvon Coakley; great grandchildren, Shaunda and
Scan Blyden II, Rakia, Rhia, and Ryan Rolle, Teja Isaacs,
Izayah, Nia and Mya Cummings, Janessa Wells, Dwayne
Johnson, Megan and Morgan Wood, Nickolas Ferguson,
and Jamero Clarke; her sisters, Winifred Rolle, Beryl
Kemp, Ineka Ferguson; her brothers, Alfred, Van and
Willis Ferguson, Wendell Albury, Spurgeon and John
Brown Jr.; brothers-in-law, Effort Kemp, Percy Blyden;
sisters-in-law, Agatha and Beatrice Ferguson, Olga Brown,
Fanette Albury; numerous nieces and nephews and other
relatives and close friends including, Agatha Williams,
Ivy Ferguson, Donna Morrisson, Nelliemae Brice, Helen
Rolle, Brenda Moxey, Angie Miller, Rev. T. G. and Mrs.
Morrisson, Rev.Wilton G. and Mrs. Strachan, Mount
Moriah Baptist Church tfaily, Zion Baptist Church family,
Black Point family, Staniel Cay family, Daisy, The PLP
Women's Branch, Queen Vashti Lodge #1 OES, National
Congress of Trade Unions,

Viewing will be held at the Restview Memorial &
Crematorium on Robinson & Soldier Road on Saturday
from 10am until 6pm and then again at the church on
Sunday from 12:00 noon until service time.


e feel guilty, and
at you over and
.on't have a dime
d politics should
ated. Once politi-
ivily into the reli-
means that they
and are simply
s.
general election
s alleged that pas-
abor church, Bish-
id admonished his
e PLP or, if not, to
g the PLP's term in
mediated in sev-
nt/union negotia-
referred to as the
chief adviser." In
ion campaign, the
te jet with his
)ned on the side
sed by Mr Christie
out the islands.
lis can hardly be,
ibed as living the
but rather appearsi
lifestyle. Over the!
so, Mr Ellis seems'
ted from being an
chicken Unlimited
lited as a Baptist
ing to watch Ellis'
rammes, as he
ew garb, is dressed
by his handlers and
he motions while
[ly traipse up and
urch's aisles and
:ithes, some doing
ng whistles much
it a soccer match.
pageantry of Ellis'
remind me of the
d Piper, as his con-
to blindly follow
ing him like a god.
re is also a pew in
- that is strictly
e Bishop's wife -
s!
n the Bank of the
card deal to a sub-
lew record label,
other business ven-
s must be credited
tute businessman.
.olle, the so-called
t, is known to sell
ed to as "miracle
ly, Jesus never
ne to pay for mira-
Mr Rolle's water
le?
water controversy
ie 21st century ver-
ke oil salesman of.
Stravelled to the


andiic u~rrfizu~ut


I I -


- -- 0







THETRBUE RIAY DCEBE 2, 00, AG 1


empty
Wild West and proclaimed how r
their medication would make peo- he Bal
pie pure again. Counci
It seems that several church- and refuses to a
men were caught up in this year's ciple that church
tense political showdown. Gold- be separate. 1
en Gates Assembly pastor Ros begin to pursue
Davis anointed PLP MPs with oil mission. In Sep
at a rally and Pastor V G Clarke, priest I. Ranf
of Calvary Deliverance Church, demned the Chi
even predicted on his television being mute and
programme that the PLP was not the injustices fa
a one-term government. Obvi- He said that n
ously, whatever he foresaw was have abused tl
dead wrong! power and ab


hamas Christian
1 is compromised
dhere to the prin-
h and state should
'he BCC should
& a more spiritual
itember, Anglican
irly Brown con-
ristian Council for
failing to address
icing the country.
nany churchmen
heir positions of
andoned God's


teachings, putting up a facade.
while being uncommitted to God
in their hearts. Mr Brown, in his
no-nonsense approach, seemed to
have advised greedy pastors to
remember Jesus' admonition that
churches are not businesses.


The government should imme-
diately call for an independent
audit of the financial records of
churches, as some pastors are
immersed from hands to their
elbows -, in the cookie jar.
Recently, so-called men of the


Tel: 242-328-0048
Fax: 242-328-0049
S#4 Patton & Rosetta Sts,
Palmdale
(Next to City Market)
Nassau, Bahamas
Email: sales@dctpc.com
TECH rLOGY
COMPANY LIMITED


CLEARANCE


pockets
cloth have been at the centre of the country as the current tifeid-
scandals, exhibiting behaviour that violent crimes, political scandal
is inappropriate of a person of and nationwide immoral behave
God. Although there is a prolif- iour seems to reflect a plac
eration of churches in the that is going to hellin a hand-ba:
Bahamas, little to no impact is ket!,
being made on the moral health of Merry Christmas Bahantas!


Is
V-
e-
s-


Alli


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I~r ~C~ "E~L~'~ 1 ~r


FRIDAY, DECEMBER 21, 2007, PAGE 11


THE TRIBUNE


i


F ~SZ







L


8~ ..
-i= .~a







THE TRIBUNE


PAGE 12. FRIDAY. DECEMBER 21, 2007


. . ,
a t de I I


-IROM page one

granted a license every year from
the government to operate. The
captain still has a license and
people are suffering.
*"We're calling on the Bahami-
anpeople to boycott United Star
anUtJUnited Spirit and all of their
sister ships. And we're calling on
Bahamians to boycott any busi-
ness-that does business with that
(coripany.) (We also want) the
government to revoke their
license."
He claimed that since the May
2007 general election he has tried
unsuccessfully through phone
calls and written communication
to reach the prime minister for
an update on government's plans
td address the victims' plight.
Earlier in the year, the victims
rep'prtedly initiated legal action
against government for its part in
the accident.
The government appointed a
Wreck Commission, which con-
veried in 2004, found that the
government-operated Port
D5 artment failed to carry out
its .duties in relation to the Sea
Hauler, including overseeing
how many passengers had board-
ed the vessel.
The commission also found
Sea Hauler "non-compliant" for
allowing too many passengers on
bblodd that fateful day.
However, Mr Bain maintained
that Thursday's protest was "not
an attack on the government,"


Sea Hauler
but simply a plea for them to "do
the right thing."
Stephen Rose, a Sea Hauler
victim, said since the accident,
life has been "up and down."
While he maintains a steady job,
sleepless nights and lingering
pains in his arms and legs pre-
vent him leading a normal life.
"It's about time we had jus-
tice served. We been knocking
on the government door now it's
time to start with the United Star
and the Sea Hauler because they
were also a part of the accident.
They need to come up and do
their part as well."
Over 25 people were injured
during the collision four years
ago and four persons were killed
in what has been described as
one of the most "heartbreaking
catastrophes" to hit the country.
Two of those victims, sisters
Brenda Mae Ellis and Brenell
Leslie, left nine children scat-
tered among different family
members since the 2003 tragedy.
Brenda Mae Dawkins, who
cares for the two youngest of her
sisters' children, claimed Social
Services only provided $80 a
month to care for the nine chil-
dren.
The Tribune was unable to
secure a comment from Minis-
ter of Labour and Maritime
Affairs Dion Foulkes. His office
said he was in the Senate all day
Thursday.


Several unsuccessful attempts
were made to contact a United
Star representative for comment.


The Tribune was told to call
back the next day.
The Sea Hauler was carrying


an estimated 194 passengers to
Cat Island on August 4, 2003
when it collided with the United


Star en route to the island s
annual regatta at around 1.45
am.


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I0'OCALNEWS


FROM page one
are upgraded," Mr. Richmond
said.
"In general yes we're on tar-
get. Some things, you know, when
you go to refurbish probably a
50-year-old washroom you hit a
lot of pipes and we didn't have
very good diagrams of where they
were so we're a little bit behind in
individual projects... but in terms
of the general overall progress,
yes, I'm very satisfied that we're
meeting our milestones," he said.
Mr. Richmond also noted that


Airport
about a month ago a $2.2 million
upgrade to the baggage system
.was installed in the US terminal
by NAD's engineering team.
This new system means passen-
gers no longer have to carry their
non carry-on luggage through the
first pre-board screening point.
Over the next year and a half, he
said, passengers can expect more
improvements.
"Of course, the largest single


improvement will be the new ter-
minal development which we
hope to start very shortly," he
said.
The Nassau Airport Develop-
ment Company Limited (NAD),
a private company owned by the
Bahamas government, was estab-
lished to manage, operate, main-
tain and develop the Lynden Pin-
dling International Airport under
a 30-year agreement with the Air-
port Authority and government.
NAD assumed responsibility for
the airport on April 1, 2007.


BPSU president FROM page one Gray


FROM page one
adding that he felt that the majority of workers
were content with the outcome of the agreement.
He said he "did not know" what would have caused
some staff to complain, and furthermore, if staff
were unhappy they should have contacted the
union.
According to Mr Pinder, around 104 employ-
ees will be affected by the collective bargaining
agreement, amongst them operations staff, main-
tenance staff, concierges and accounting staff.
The agreement will become retroactively effec-
tive from April 1 this year through December 31,
2011. Significant features include a new perfor-
mance-related pay system.
NAD will also match employee contributions
in a new pension plan. The agreement ensures that
staff members who have been transferred from the
airport authority will not lose any of their benefits,
said Mr Pinder. NAD is a private company owned
by the government which, as of April 1 of this year,
assumed responsibility for managing, operating,
maintaining and developing the Lynden Pindling
International Airport for a 30-year period.


FROM page one
He claimed that after speaking
with Mr Moorcroft, senior vice-
president of corporate communi-
cations for RBC, by video phone
about alleged "historic mistreat-
ment" of Bahamian workers by
RBC since their establishment in
the Bahamas, Mr Moorcroft
agreed that as recompense for
RBC's actions, the funds would be
made available to Bahamians.
Included in that figure would be
$250 million specifically ear-
marked for taxi drivers, in light of
their "contribution to the devel-
opment of the Bahamas as a
whole", Mr Johnson claimed.
However, in an interview with
The Tribune yesterday, Mr Moor-
croft said that "absolutely no dis-
cussion of any such topic ever took
place" between himself and the
.union president.
"This is a fantasy which Mr
Johnson has trumped up and
believes in," he said.
Mr Moorcroft said that when he
jj~~"liMr Johns9p it was short-
.,.l after hie had staged, a protest
"b'f't de one of RBC s Nassau
branches, accusing the bank of mis-


ered that the MP and a female companion were in the
backseat of one of the vehicles.
Mr Gray was issued a harsh warning by the police.
Yesterday the PLP issued a press release stating that
the party had "taken note" of a story circulating in the
news media concerning Mr Alfred Gray.
"Mr Gray is currently out of the country on holiday
with his family, and in this circumstance, it is important
for the public to be reminded that the Member of Par-
liament has yet to respond as to the nature and/or the
truth of these allegations.
"Until such time as Mr Gray has responded, the
public is further reminded that for any accurate under-
standing, Mr Gray and the other side of any story is
entitled to be heard, notwithstanding-what has thus
far amounted to a trial by newspaper," the party said.
Recently, Mr Gray's name has been put up as a pos-
sible candidate for the chairmanship of the Progressive
Liberal Party at its National Convention in February.
However, he has yet to take an official position on
whether or not he will run for the chairmanship of the
party.
In addition to being a Member of Parliament, Mr
Gray is a deacon at St John's Annex Baptist Church on
Wulff Road.


RBC
treating its employees.
He said that he had spoken with
him to assure him that this was not
the case, as had been confirmed
by an "independent survey" car-
ried out by a company of worker's
attitudes within the company. Fur-
thermore, he pointed to numerous
charitable endeavours undertak-
en by the company in the commu-
nity.
"That didn't seem to satisfy
him," he said. He noted that RBC
would only ever operate in the
Bahamas through "official chan-
nels" such as the government or
charpber of commerce.
However, Mr Johnson yester-
day responded by accusing Mr
Moorcroft of having "a conve-
niently selective memory."
He claimed to have documen-
tary evidence that Mr Moorcroft,
on behalf of CEO Mr Nixon, had
agreed to the massive financial
offer.
* "We intend to see that'Nixoir
keeps his word," said Mr Johnson.
The union president was accom-
panied at the conference by Leslie


Moss, a Bahamian who has been
embroiled in a dispute with RBC
since 2003. He claims to be a prime
example of such practices which
RBC allegedly imposes upon its
employees, pointing to his "unfair
dismissal" from his position p~a;
banker and investment adviserfi6
the company and subsequent fail7-
ure to achieve justice against the
bank in the following four years
as evidence of this.
In his Supreme Court action
against the bank he alleges dis-
crimination between Canadian and
Bahamian employees and clains
to have been "bullied and canni-
balised" by certain senior invest-
ment advisers while working for
the bank in Canada.
Mr Johnson said that the union
joined forces with Mr Moss in an
effort to help him achieve a reso-
lution to his hardship.
Mr Moorcroft stated that RBC
goes out of its way to ensure that
its employees are satisfied on the
job as it is costly to identify and
train employees, "only to go and
Shaye thAemwork elsewhere."
RBC regional director Mr
McDonald did not return messages
left for him up to press time.


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THE TRIBUNE


FRIDAY, DECEMBER 21, 2007, PAGE 13


UJIl liittl









-PAGE 14, FRIDAY, DECEMBER 21, 2007 THE TRIBUNE


Israel examining

Hamas truce proposal

delivered by Egypt

h GAZA CITY, Gaza Strip

ISRAEL is examining a
Hamas truce proposal deliv-
ered by Egypt, defense offi-
.ials said Thursday after at
least six Palestinians were
killed in a day of Israeli air
and ground strikes aimed at
stopping rocket salvos from
Gaza, according to Associ-
ated Press.
The Israeli officials, speak-
ing on condition of anonymi-
ty because of the sensitivity
of the issue, said the Hamas
proposal was limited to stop-
ping the rocket fire in
exchange for a halt to Israeli
military operations in Gaza.
They said Hamas gave assur-
ances it could impose the
truce on the militant groups
that are firing the rockets -
Islamic Jihad and the Popu-
lar Resistance Committees.
There was no immediate
comment from the Egyptian
government.
Despite the tentative con-
tacts, there were more Pales-
tinian rocket barrages
Thursday. One rocket fired
by militants in Gaza explod-
ed next to an Israeli school,
terrifying children. Late
Thursday, Hamas said it
fired three rockets at Israel,
its first such claim in weeks,
putting the truce talk in
doubt.
Hamas first floated the
-idea of a truce earlier this
-week when its leader, Ismail
J{aniyeh, called an Israeli
V reporter. Israel rejected
the advance, saying there
was no need for a truce
because if the rocket fire
stopped, Israel would have
no reason to attack.
Israel refuses to deal
directly with Hamas because
the militant Islamic move-
ment rejects the existence of
a Jewish state in the Islamic
Middle East and routinely
calls for its destruction. Pre-
vious truces have been nego-
tiated through Egyptian
mediation, but none has held
for long.
Vice Premier Haim
Ramon said the overture
was proof that Israel's strat-
egy of blockading Gaza and
battling militants there is
working.
"All of these ... comments,
and the messages coming in
all kinds of strange ways, all
of these things are a kind of
smoke screen that just shows
that Israel's recent policy
toward Palestinian terror is
bearing fruit," Ramon told
Army Radio.
In amateur video of the
Thursday rocket attack on
the battered Israeli town of
Sderot, taken from inside
the school, the sound of the
.explosion is clearly heard.
Children scream and cry as a
teacher tries to round them
up and guide them to a safe
location.
No one was hurt, but
Israeli officials said about a
dozen children suffered pan-
ic attacks, and one was taken
to a hospital for shock.
Pictures such as those
from Sderot, a favorite tar-
get of rocket squads just half
a mile from the Gaza-Israel
border fence, have increased
pressure on Israel's govern-
ment to take action to stop
the rocket attacks.
Israeli Defense Minister
Ehud Barak has said repeat-
edly that a large-scale inva-
sion of Gaza is nearing, but
experts and officials
acknowledge that such inva-
sions have not stopped the
rockets in the past.
Instead, the military is
using pinpoint strikes to try
to deter the militants, such
as those on Thursday.
Troops entered central Gaza
and withdrew after nightfall,
the military said.
Israel said its forces killed
seven Palestinian gunmen in
four clashes Thursday. Pales-
tinians confirmed six dead
and 20 wounded.
'" Israeli ground forces in
c-entral Gaza killed two
approaching gunmen, the
army said, and later shot
dead two more militants.
Palestinians said five mili-


tants were killed.
Two of the bodies
were recovered after night-
fall.
Hospital officials said
another person was also
killed in the clash.
A Reuters soundman was
shot in the leg while cover-
ing the'clashes.
* It was not clear whether
he was wounded by Israeli
or Palestinian fire, the news
agency said.
A photographer for
Hamas television was also
slightly injured.


A TRAFFIC officer directs traffic in front of The Sao Paulo Museum of Art in Sao Paulo, Thursday, Dec. 20, 2007. Thieves broke into the Sao Paulo Museum of Art on Dec. 20, 2007 and
made off with Pablo Picasso's "Portrait of Suzanne Bloch" and Candido Portinari's "0 Lavrador de Cafe," said museum press spokesman Eduardo Cosomano. (AP Photo/Andre Penner)'



Thieves make off with paintings




by Picasso and Portinari in Brazil


* SAO PAULO, Brazil

ARMED with nothing
more than a crow bar and a
car jack, it took thieves just
three minutes to steal paint-
ings by Pablo Picasso and
Candido Portinari, worth mil-
lions of dollars, from Brazil's
premier modern art museum,
according to Associated Press.
Authorities said they hit the
Sao Paulo Museum of Art just
before dawn Thursday a
time when the city's busiest
avenue is deserted and the
guards inside were going
through their shift change.
Jumping over a glass parti-
tion, they climbed an open
concrete staircase leading up
into the entrance of the two-
story modernist building,
which hovers over a large
plaza on stilts of steel.
For a short time, they could
have been seen from blocks
away. But the thieves worked
quickly. A few jabs of the
crowbar, and they were able
to slip a common car jack
under the metal security gate.
A few more cranks and they


squeezed inside.
Hazy images from a securi-
ty camera shows three men
going in at 5:09 a.m.
They smashed through two
glass doors, ran to the muse-
um's top floor and grabbed
the two framed paintings from
different rooms, somehow
avoiding nearby guards. The
alarm never rang, and by 5:12
a.m., they were making their
escape.
"It was a professional job:
it was something they studied
because the paintings were in
different rooms," said the lead
police investigator, Marcos
Gomes de Moura.
Picasso painted "Portrait of
Suzanne Bloch," in 1904 dur-
ing his Blue Period. It is
among the most valuable
pieces in the collection, muse-
um spokesman Eduardo
Cosomano said.
They also took "O Lavrador
de Cafe" by Portinari, a major
Brazilian artist.
"The prices paid for such
works would be incalculable,
enough to give you vertigo,"
said curator Miriam Alzuri of
I


the Bellas Artes Museum of
Bilbao, Spain.
Jones Bergamin, a Sao
Paulo gallery director, esti-
mated the Picasso at about
$50 million and-the PIrtiniri
$5-$6 million.
"I talked to friends at
Christie's and Sotheby's and
made the estimate based on
the last Picasso that sold,
"Garcon Avec Pipe." which is
from the same blue period."
Bergamin said.
But Bergamin disagrees
with the police theory that the
thieves are professionals, since
they ran past many other valu-
able paintings, including a
very important Renoir, a
Raphael, and paintings by
Rembrandt and Degas.
"I think they took the Picas-
so because it was so small and
the Portinari because it was
hanging by the door," he said.
The Picasso measures 26 by
21 inches and the Portinari 40
by 32 inches, the museum said.
Police believe there a fourth
person may have acted as a
lookout because they found
headphones near the muse-


um's entrance.
Thieves attempted a rob-
bery at the same museum in
late October but were foiled
by the alarm system. This
time, the alarm failed. Moura
said he believes Thursday's
robbery was carried out by the
same gang.
Police were interviewing 30
museum employees, but none
of the guards had fewer than
10 years on the job, Moura
said. They also alerted Inter-
pol and airport police to try
to stop the paintings from
leaving Brazil. And while
Moura doubts the paintings
are being held for ransom.
police are ruling nothing out.
"Everything indicates they
were sent to do it by some
wealthy art lover for his own
collection someone who,
although wealthy, was not rich
enough to buy the paintings,"
Moura said.
"O Lavrador de Cafe,"
which depicts a coffee picker,
was painted in 1939 and is one
of the most renowned works
by one of Brazil's most
famous painters. Portihari


(1903-1962) was an influential
practitioner of the "neo-real-
ism" style. His best known
works outside Brazil are the
"Guerra e Paz" or "War and
Peace" panels at the United
Nations in New York.
The museum said this was
the first robbery in its 60-year
history, but art thieves also hit
Brazil last year, when a gang
of five men used a carnival
street parade to cover the
theft of four paintings by Dali,
Picasso, Monet and Cezanne
from a Rio de Janeiro art
museum.
Those works, valued at
around $40 million have never
been recovered.
With the museum closed
Thursday as police searched
for clues, a handful of
visitors were frustrated and
perplexed.
"Who could imagine that
someone could enter a muse-
um and walk out with two
paintings? It's inconceivable;"
said Deborah Regina Fernan-
des, a 37-year-old housewife
who came with family arid
friends.


e.-


A HYDRAULIC jack used by thieves to enter the Sao Paulo Museum of Art remains in the museum's door in Sao Paulo, Thursday, Dec. 20, 2007. Thieves broke into the Sao Paulo
Museum of Art on Dec. 20, 2007 and made off with Pablo Picasso's "Portrait of Suzanne Bloch" and Candido Portinari's "O Lavrador de Cafe," said museum press spokesman Eduardo
Cosomano. (AP Photo/Andre Penner)


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PAGE 16, FRIDAY, DECEMBER 21, 2007 THE TRIBUNE


Pictured I to r: Kenrah Newry, winner Orlando trip for two
and Keith Jones, Marketing Coordinator, John Bull Group of
Companies.

Not pictured; Deborah Duncombe, winner New York trip
for two,


Pictured I to r: Tracy Hoo, American Airlines Regional Sales
Manager; Tiffany Hall, winner Toronto trip for two and Keith
Jones, Marketing Coordinator, John Bull Group of Companies.


a


yt.


284 Bay Street 302-2800
Crystal Court, PI. Harbour Bay Mall at Marathon Marina Village Palmdale
Abaco Exuma Freeport Harbour Island OBvigari Cartier Coach David Yurman
Dooney & Bourke pJohn Bull Business Centre Guess Gucci La Parfumerie


1~~
S


3f sull
AmericanAirlines
American /


II_^__IX~_1IILII1L~~. ..X .-1-I--I.1 (.I1--. _._...l..~li.... ._4__1-11. -(--..(. -...- . I ii ii .11


PAGE 16, FRIDAY, DECEMBER 21, 2007


m


THE TRIBUNE







THE TRIBUNE


FRIDAY, DECEMBER 21, 2007, PAGE 15


INERATONL EW


Former detainee




of Guantanamo




reunited with




family in Britain


* LONDON
A BRITISH resident released
from the U.S. prison camp at
Guantanamo Bay was reunited
with his family Thursday for the
first time in five years after a
judge rejected a Spanish request
to jail him on suspicion of
belonging to an al-Qaida cell,
according to Associated Press.
Jamil el-Banna, a Palestinian-
Jordanian. met his wife. Sabah,
and was heading to see his five
children for the first time since
2002, when he was arrested in
Africa and handed to U.S.
authorities.
El-Banna. 45, was among
three British residents who
were flown back from the U.S.
prison camp late Wednesday
under a deal struck between
London and Washington. All
three were held without charge
or trial at Guantanamo for
more than four years.
They were all detained in
Britain but Abdcnnour Sameur,
34, of Algeria, was later
released without charge, police
said.
El-Banna was arrested hours
after returning from Cuba and
appeared in a London court
Thursday after Spanish police
demanded his extradition on
charges of belonging to an al-
Qaida terrorist cell.
The third man released from
Guantanamo Bay. Libyan-born
Omar Deghayes, 38, was also
arrested at the request of Spain
and was due in court later
Thursday.
With a long, matted gray
beard and I.- idI expression,
el-Banna spoke.through a trans-
lator as he refused to go to
Sp.ai-.oIun.tarjil y..HJe. w.as..


released on bail and ordered to
appear at an extradition hearing
set for Jan. 9.
"I want to go to home and
see my children," el-Banna told
reporters as he left the court
and climbed into a waiting taxi
with his wife.
Spanish authorities accuse el-
Banna of being an overseas
member of the Madrid-based
Islamic Alliance, an al-Qaida
cell, which sent volunteers to
fight in Afghanistan, according
to prosecutor Melanie Cumber-
land.
Cumberland said the Madrid
cell was led by Imad Eddin
Barakat Yarkas, who is serving
a 12-year jail term in Spain on
terrorism charges. El-Banna
was allegedly a member
between 1996 and 2001.
El-Banna's defense lawyer
Ed Fitzgerald said he would
fight the extradition.

Authorities
"U.S. authorities, after exten-
sive interrogation and intensive
investigation, have concluded
he provided no risk to the US
or to its allies," he said.
Britain's secret intelligence ser-
vice, MI6, had also decided el-
Banna was no threat, Fitzger-
ald added.
According to documents
released in Guantanamo during
several hearings on his deten-
tion, a British MI5 intelligence
officer visited el-Banna at his
home near London in October
2002 to try to get him to
become a paid informant.
British intelligence agents
were interested in boosting
their informant network afit r


the Sept. 11, 2001, terrorist
attacks. El-Banna repaired cars
for sale at auction and per-
formed faith healings while rais-
ing his family.
Abu Qatada, a Muslim cleric
described by a Spanish judge as
Osama bin Laden's "spiritual
ambassador in Europe," was a
neighbor of el-Banna in Pak-
istan, when el-Banna worked in
the early 1990s for a Saudi char-
ity helping Afghan refugees.
In Britain, he was among
hundreds of Muslims who regu-
larly attended sermons in Abu
Qatada's London-area mosque.
El-Banna's friend Bisher al-
Rawi, an Iraqi living in Britain,
was helping MI5 keep tabs on
London's Muslim community.
At the time, Abu Qatada was
in hiding to avoid arrest under
Britain's anti-terrorism laws,
and al-Rawi relayed messages
between MI5 and the cleric.
El-Banna sometimes drove
Abu Qatada's wife and children
to the imam's hideout as a favor
to al-Rawi, el-Banna's lawyers
said.
Al-Rawi also recruited el-
Banna on the trip that ended
with their arrest in Africa. El-
Banna planned to manage a
Gambian peanut oil plant, and
the MI5 officer assured him he
could travel.
But El-Banna and al-Rawi
were detained at Gatwick Air-
port the next day. According to
an MI5 memo written that day
- Nov. 1, 2002 "some form
of homemade electronic device"
found in al-Rawi's bag could
have been used in a car bomb.
It was later discovered to be a
battery charger.
Al-Rawi was released from
.Giuantanamo in April...... -_,


CO



THE NEWLY released Guantanamo Bay U.S. prison camp detainee Jamil el-Banna leaves Westminster Magis-
trates Court, London, Thursday, Dec. 20, 2007. EI-Banna flew back to Britain under police guard late
Wednesday, five years after he was seized in Gambia and handed over to U.S. authorities. EI-Banna will face
possible extradition to Spain for alleged terrorism offenses, police said.


/ V I / I1,


:oi


1


. ~
/


.1 A


I :' . ., Z


i





THE TRIBUNE


AP GE 16 FRIDAY DECEMBER 7


SUTsaHIRT T


:I


Authorities lower toll from Pakistan


train crash to at least 40 dead


* ISLAMABAD, Pakistan
AUTHORITIES lowered
the death toll Thursday from a
train derailment in southern
Pakistan as the damaged rail
lines were repaired, allowing
services to be restored at the
height of the holiday travel sea-
son, according to Associated
Press.
Fourteen of the 16 cars on
the Karachi Express train
jumped the tracks before dawn
Wednesday as the crowded
passenger train headed from


Damaged rail

lines are repaired


Karachi, capital of southern
Sindh province, to the eastern
city of Lahore, mainly carry-
ing passengers heading home
for the Islamic holiday of Eid
al-Adha.
Officials initially reported at


least 58 dead from the crash
near Mehrabpur, a town about
250 miles north of Karachi. But
Junaid Qureshi, director of
operations for state-run Pak-
istan Railways, revised the
casualty figures to 40 dead and
269 injured, mostly in two cars
that were turned into mangled
metal and debris.
"The position now is that
there are 40 dead," Qureshi
said, adding the early figure
was exaggerated. "I do not


know where they got it from."
Thirty-nine bodies have
been handed over to relatives,
while one unidentified body
remained unclaimed in a
Karachi morgue, he said.
But confusion remained over
how many people died. Offi-
cials at Edhi Foundation, Pak-
istan's largest privately run
emergency service which
helped in the rescue and relief
operation, reported Thursday
its workers had picked up 45
bodies from the scene.
Mohammed Shafi Toor,
head of the state-run hospital
in Mehrabpur, said 46 bodies
were taken to three hospitals.
He put the injured figure at
290.
It was not immediately pos-
sible to reconcile the differing


death counts.
Authorities have started an
inquiry into the crash. Qureshi
would not speculate on
wehe r sabotage may have
been responsible, saying only
the probe will examine all
angles, including the possibili-
ty of a fault in the tracks or the
engine.
Train accidents are common
in Pakistan, which has an anti-
quated rail network dating
back to the British colonial-
era.
A speeding train struck a
crowded bus at a railway cross-
ing near Lahore in October,
killing 12 people and injuring
about 50. About 130 people
died in July 2005 when three
trains collided in southern Pak-
istan.


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giraffes, bears and lions to stimulate the animals' curiosity and display the natural abilities.


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Suicide bombing northeast




of Iraqi capital kills six


* BAGHDAD
A SUICIDE bomber
blew himself up outside a
city council meeting in a


town northeast of Baghdad
on Thursday, killing at least
six people, including a U.S.
soldier, during a four-day
Islamic holiday, the military


said, according to Associat-
ed Press.
A local policeman in the
town of Kanaan gave a dif-
fering casualty toll, saying


13 people were killed and
18 were wounded in the
attack. He spoke on condi-
tion of anonymity because
he was not authorized to


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0


release the information.
The policeman also said
the soldiers were handing
out gifts to a group of peo-
ple for the Eid al-Adha hol-
iday when the attack took
place in the Shiite-domi-
nated town about 35 miles
northeast of Baghdad. But
the military denied the sol-
diers were handing out any-
thing to civilians.
The military said the
bomb killed one U.S. sol-
dier and five civilians, and
wounded 10 soldiers and
one civilian.
The reason for the dis-
crepancy in the casualty toll
was not immediately
known.
In Baghdad, a car bomb
exploded outside a liquor
store, killing four civilians
and wounding 36, police
said.
Meanwhile, U.S. soldiers
carrying out operations in
volatile Diyala province
north of Baghdad found
mass graves next to what
they called a torture center
where chains were attached
to blood-spattered walls
and a metal bed frame was
still connected to an elec-
trical shock system, the mil-
itary said.


Operation.
The discoveries in I
province near Muqdai
about 60 miles nor
Baghdad, came dur
Dec. 8-11 operation
also saw multiple b,
between U.S. troop
militants. The military
it killed 24 insurgent
detained 37 others i
operation.
The military said it t
the site was run by al-(
in Iraq, and it was f
based on tips from
Iraqis. Graves contain
bodies were found ne
"We discovered se
(weapons) caches, a to
facility that had chain
bed an iron bed tha
still connected to a ba
knives and swords
were still covered in 1
as we went in to go
the terrorists in that a
said Army Maj. Gen.
P. Hertling, the top
commander in nort
Iraq.
Soldiers found a toi
nine caches contain:
surface-to-air mi
launcher, sniper rifles


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n
Diyala
diyah,
th of
ing a
that
attles
s and
y said
s and
n the
thinks
Qaida
'ound
local


pounds of homemade
explosives and numerous
mortar tubes and rounds,
among other weapons.
Despite a nationwide
decrease in violence of
nearly 60 percent, Diyala
province is still turbulent -
largely because militants
have been pushed into the
area by the summer influx
of U.S. troops in Baghdad,
a freeze on activities by the
Mahdi Army militia and the
rise of Sunni anti-al-Qaida
"awakening" groups.
"Yes, there are still some
very bad things going on in
that province," Hertling
said. "We are slower in
coming around because ...
some of the extremists have
been pushed east from
Anbar province as they've
seen the awakening move-
ment there and north from
Baghdad as the surge oper-
ations took place there."
Hertling noted, however,
that the number of roadside
bombings against coalition
and Iraqi troops in the area
had decreased between 40
and 50 percent since the
summer. He said there were
849 such attacks in Novem-
ber, compared with 1,698 in
June.
But he also warned that
al-Qaida in Iraq was still
capable of massive violence.
"You know, there's going
to be continued spectacular
attacks," Hertling said.
"We're trying, along with
the Iraq army, to protect all
the infrastructure of Iraq.
These people who are fight-
ing us, who are fighting the
Iraqi people, continue to
just destroy with no intent
to contribute to what Iraq is
trying to be."

Shops


ing 26 In Baghdad, shops were
arby. closed and the streets were
veral empty as the Eid al-Adha
)rture holiday was observed.
ins, a Eid al-Adha is a holy cel-
it was ebration for Muslims, com-
attery memorating the prophet
s that Abraham's willingness to
blood sacrifice his son for God.
after According to Muslim tradi-
.rea," tion, after Abraham
Mark expresses his willingness,
U.S. God sends the prophet two
hern sheep instead for slaughter.
Violence this week has
tal of been down across Iraq -
ing a even in comparison with the
ssile recent drops in attacks -
, 130 perhaps as a result of the
holiday. On Wednesday,
only one body was found in
Baghdad and there was just
one reported killing.
Separately, the U.S. mili-
tary said that its prelimi-
nary investigation into a
Dec. 17 incident in which a
Marine killed an Iraqi
policeman as they manned
a joint security station
north of Ramadi showed
both men suffered cuts dur-
ing a fight. It was not clear
what sparked the alterca-
tion.
The military said the
Marine, who was not iden-
tified and was treated at a
hospital and released after
the fight, was not yet fac-
ing charges, but that the
investigation was ongoing.


Share

your

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


--SHIRLEY STREET TEL:322-8941
UOPEN:MON -FRI 7:3Oam-4:3Opm
Im


PAGE 18, FRIDAY, DECEMBER 20, 2007


THE TRIBUNE


BSSS vSSa.











South Korea's -L


president-elect says



he won't shy from



criticising the North


* SEOUL, South Korea
PRESIDENT-ELECT Lee
Myung-bak said Thursday he
would not shy from criticiz-
ing North Korea's authoritar-
ian regime, ending a taboo by
a decade of liberal South
Korean leaders who have
aggressively sought closer ties
with Pyongyang, according to
Associated Press.
Lee, who won a landslide
victory in Wednesday's vote,
represents the conservative
opposition Grand National
Party that has been heavily
critical of the South's engage-
ment policy toward the North.
The new leader, a pragmat-
ic former Hyundai CEO, is
considered less hard-line,
although he has called for
stricter reciprocity from
Pyongyang for Seoul's aid.
"I think unconditionally
avoiding criticism of North
Korea would not be appro-
priate," Lee told a news con-
ference the day after the elec-
tion. "If we try to point out
North Korea's shortcomings,
with affection, I think that
would make North Korean
society healthier."
Lee also urged North Korea
to dismantle its nuclear
weapons program and said
Seoul would open normal
trade only after Pyongyang
disarms.
"The most important thing
is for North Korea to get rid
of its nuclear weabods," he
said. "Full-fledged economic
exchanges ca'tf'start after
North Korea dismantles its
nuclear weapons."
The North this year began
disabling its main nuclear
facility under an international
accord with the U.S. and oth-
er countries the first time
Pyongyang has scaled back its
development of atomic
weapons. North Korea has
promised to declare all its
nuclear programs by the end
of the year that will be even-
tually dismantled.
Lee won 48.7 percent of the
Wednesday vote with the
largest margin of victory ever
in a South Korean presiden-
tial election besting his
closest rival by more than 22
percent.


Lee Myung-bak

speaks out after

landslide victory


Under the past two liberal
presidents, South Korea had
failed to publicly raise human
rights problems in North
Korea out of concern its crit-
icism may anger Pyongyang
and complicate reconciliation
between the countries that
remain technically at war. The
1950-53 Korean War ended
with a cease-fire that has nev-
er been replaced by a peace
treaty.
The two Koreas embarked
on unprecedented rapproche-
ment after their leaders met
for their first-ever summit in
2000, and the South is now
North Korea's No. 2 trade
partner after communist ally
China.
The South also has been a
main food donor for the
impoverished North, but
international monitors have
raised questions about its abil-
ity to verify if aid gets to the
needy and is not diverted to
the military.
Later Thursday, Lee spoke
by phone with President
Bush, pledging to strengthen
relations with Washington
and work together to resolve
the standoff over North Kore-
a's nuclear programs, Lee's
office said in a statement.
During the seven-minute
conversation, Bush congratu-
lated Lee. on his election and
stressed the importance of
making the Korean peninsula
free of nuclear threats and
taking a stern attitude on
Pyongyang to achieve that
goal, the statement said.
Lee accepted an invitation
from Bush to visit the U.S.,
the statement said.
Earlier, Lee told U.S.
Ambassador Alexander Ver-
shbow he thought "Korea-
U.S. relations lacked trust a
bit for the past five years" and
that he hoped that would
change.


Lee earned his victory on a
wave of discontent for incum-
bent President Roh Moo-
hyun, whom many believe
bungled the economy and
dragged down the Asian
nation's rapid growth.
Voters also appeared will-
ing to overlook accusations of
ethical lapses that dogged Lee
throughout his campaign. Just
days before the vote, the par-
liament approved an inde-
pendent counsel investigation
into alleged stock manipula-
tion by Lee that is to be com-
pleted before the Feb. 25
inauguration.
Lee has said he will step
down if found at fault.
Kang Jae-sup, chairman of
Lee's Grand National Party,
asked Roh on Thursday in a
radio interview to veto the
independent counsel bill to
allow for a smooth transition
of power.
Presidential spokesman
Cheon Ho-seon said the
request has not yet been dis-
cussed. Another spokesman,
Oh Young-jin, noted Roh had
earlier expressed his intention
to sign the bill.
Lee's main campaign
promise was labeled the "747"
pledge promising to raise
annual growth to 7 percent,
double the country's per capi-
ta income to $40,000 and lift
South Korea to among the
world's top seven economies.
Lee said Thursday he would
court foreign investment and
"foster an environment where
companies can operate
freely."
"The atmosphere was anti-
business and anti-corporate
so that companies were reluc-
tant to invest," he said of his
liberal predecessors.


SOUTH KOREAN president-elect Lee Myung-bak smiles during a disbanding ceremony for the Grand National
Party(GNP) election committee at the GNP headquarters in Seoul, Thursday, Dec. 20, 2007. Lee urged North
Korea to dismantle its nuclear weapons program and improve its human rights record, saying Thursday the
longtime rivals could open normal trade only after Pyongyang disarms.


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FRIDAY, DECEMBER 21, 2007, PAGE 19


THE TRIBUNE


* 5 : *,W,!,


!1


I


I





PAGE 20, FRIDAY, DECEMBER 21 2007


DECEMBER 21, 2007


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

Issues Round- Washington McLaughlin Bill Moyers Journal (N) ) (CC) Waking the Dead "Every Breath
B WPBT table discussion. Week (N) Group (N) (CC) You Take" (Part 1 of 2)
(CC)
The Insider (N) 9th Annual A Home for the Holi- Moonlight Vampire-style murders NUMB3RS The team investigates a
[ WFOR n (CC) days (N) Ft (CC) plague os Angeles; Mick recon- murder at a horse track; Charlie dis-
nects with a woman. n (CC) covers a gambling scheme. n
VJ Access Holly- The Singing Bee The Singing Bee Dateline NBC 1 (CC)
S WTVJ wood (N) (CC) (N) (C Little Richard per-
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N Deco Drive Don't For et the Lyrics! Missing The Next Great American Band "3 News (N)(CC)
WSVN lyrics. f CC) Cut to Winner" The winning band
gets a recording contract.
Jeopardy! (N) Duel Contestants challenge each Women's Murder Club The club in- (:02) 20/20 (N) (CC)
l WPLG (CC other's intellect and skill. (N) n vestigates a drug ring being run out
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(:00) CSI: Miami Miami A dead man trussed up CSI: Miami "Camp Fear" A girl's CSMiami Entrance Wounds" Hor-
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(:00) BBC World BBCNews World Business BBC News Our World "Iraq" News
BBCI News America (Latenight). Report (Latenight). Iraq.
BET BABY BOY (2001, Drama) Tyrese Gibson, Omar Gooding, A.J. Johnson. A man jug- To Be Announced
BET gles womanizing with fighting his mother's boyfriend. (CC)
C C Pooh and * THE SANTA CLAUSE 2 (2002, Comedy) Tim Allen, Elizabeth CBC News: The National (N) (CC)
P MChristmas Mitchell. Santa must get married in order to keep his job. (CC)
CN C 00) Kudlow & Fast Money High Net Worth Deal or No Deal Contestants get a The Big Idea With Donny Deutsch
___ C company (CC) chance to win money. F (CC)
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CNN^ nightt (CC)
Scrubs Elliot be- The Daily Show The Colbert Re- Jeff Dunham: Spark of Insanity The comic performs. Jeff Dunham:
COM gins to plan her With Jon Stew- port(CC) (CC)Arguing With
wedding. (CC) art (CC) Myself(CC)
COURT ops Coast to Most Shocking Forensic Files Forensic Files Dominick Dunne: Power, Privilege
COURT Coast" n (CC)II& Justice "Family Plot"
The Suite Life of Hannah Mon- Hannah Mon- ** CONFESSIONS OF A TEENAGE DRAMA :40) The Suite
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S THE TRIBUNE


FRIDAY, DECEMBER 21, 2007, PAG:;J. 21


2








PAGE 22, FRIDAY, DECEMBER 21, 2007


THE TRIBUNE


INERATIOALNW


Russia, Kazakhstan

and Turkmenistan

sign Caspian

gas pipeline deal

* MOSCOW

RUSSIA, Kazakhstan
and Turkmenistan signed
an agreement Thursday to
build a natural gas
pipeline along the Caspi-
an Sea coast that would
strengthen Moscow's
monopoly on energy
exports from the
resource-rich region,
according to Associated
Press.
But the plan also deliv-
ers a strong blow to West-
ern hopes of securing
alternate energy export
routes.
The deal, which follows
a preliminary agreement
reached in May, ended
months of tense argu-
ments over the price of
gas supplies.
"We have just signed an
extremely important
agreement between Rus-
sia, Kazakhstan and Turk-
menistan on building the
Caspian pipeline," Russi-
a's President Vladimir
Putin said. "It will
become a new, important
contribution of our
nations into strengthening
the European energy
security."
The agreement was
signed after Putin's talks
in the Kremlin with Presi-
dent Nursultan
Nazarbayev of Kaza-
khstan and their confer-
ence call with Turkmen
President Gurbanguli
Berdymukhamedov.
Following months of
disputes over gas price,
Russia's state-controlled
monopoly OAO Gazprom
gave in to Turkmen price
demands last month and
agreed to pay $130 per
1,000 cubic meters of nat-
ural gas in the first half of
2008 and $150 in the sec-
ond half.
The new pipeline deal
will likely disappoint the
United States and the
European Union, which
have been lobbying for a
rival pipeline to be built
under the Caspian Sea,
bypassing Russia.
Adding to the West's
grievances, Nazarbayev
also said after the talks
that Kazakhstan would
increase oil exports to
Russia.
Russia has pushed
strongly for control over
energy exports from the
Caspian, while
Nazarbayev and Berdy-
mukhamedov have
expressed interest in
undersea pipelines and
voiced support for multi-
ple export routes.
However, prospects for
pipelines under the Caspi-
an have been clouded by
high costs, environmental
concerns and disputes
over ownership of the sea
resources.
The legal status of the
Caspian has been in limbo
since the 1991 Soviet col-
lapse, leading to tension
and conflicting claims to
seabed oil deposits and
other sea riches.
The five Caspian Sea
nations Iran, Azerbai-
jan, Kazakhstan, Turk-
menistan and Russia -
failed to agree on how to
divide the sea's riches at
their latest summit in
Tehran, in October. Rus-
sia and Iran warned out-
side powers to stay away
from the.region, and
Putin underlined that all
pipeline projects should
require approval by all
five nations.
Moscow has strongly
opposed U.S.-backed
efforts to build pipelines
to deliver Central Asian
and Caspian hydrocar-
bons to the West bypass-
ing Russia, through which
all pipelines from the area
currently flow.
Turkmenistan, which


has the largest natural gas
reserves in the former
Soviet Union after Russia,
ships gas to Russia along
a pipeline that has an
annual capacity of 50 bil-
lion cubic meters.
The new pipeline would
have an initial annual
capacity of 20 billion
cubic meters, and it could
grow significantly in the
future.
Russia's Industry and
Energy Minister Viktor
Khristenko said the new
pipeline would be built by
2010.


Bhutto accuses Pakistan's spy agency



of pressuring her election candidates


* DERA ALLAH YAR,
Pakistan

FORMER Prime Minister
Benazir Bhutto accused Pak-
istan's military intelligence
Thursday of pressuring candi-
dates from her party to drop
out of next month's parliamen-
tary elections and urged offi-
cials to crack down on such
harassment, according to Asso-
ciated Press.
Bhutto, a two-time former
prime minister who recently
returned from years of living in
exile, told reporters during a
campaign stop her party has evi-
dence of interference,
though she did not say what it
was.
"We demand that the Elec-
tion Commission should take
notice of such things to ensure
free and fair elections," she said,
also accusing local mayors of
gearing up to cheat.
She urged intelligence agen-
cies to concentrate their efforts
on capturing terrorists, adding,


Former PM accuses


military intelligence


"Thjs is not your job to indulge
in politics."
Bhutto also asked the gov-
ernment of President Pervez
Musharraf to act against those
involved in rigging the vote,
reminding him that he has
promised the Jan. 8 balloting
will be free and fair.
Under pressure from the
international community and
domestic opposition, Mushar-
raf also has said he would try
to work with anyone getting a
majority in Parliament. He has
called allegations of rigging an
attempt by Bhutto and other
opposition leaders to create an
excuse in case they fare poorly
at the ballot box.
Bhutto, traveling in a bullet-


proof vehicle and accompanied
by tight security, was making
her first tour to remote areas
of Baluchistan province, where
tribal elders have waged insur-
.gency to pressure the central
government to return more of
the wealth from natural
resources extracted from their
areas.
She urged about 10,000 flag-
waving supporters at Dera
Allah Yar to reject candidates
from the ruling pro-Musharraf
Pakistan Muslim League-Q par-
ty, saying it had done nothing
for the welfare of the masses.
Later, Bhutto addressed about
4,000 supporters in the nearby
town of Jacobabad, promising
she would alleviate poverty, cre-


ate more jobs for youths and
improve the ailing economy.
Former Prime Minister
Nawaz Sharif also has been
vehemently opposing the pro-
Musharraf party, and the two
opposition leaders have indi-
. cated they may be willing to
share power if, as expected, no
party wins a majority.
Sharif initially called for a
boycott of the vote but later
changed his mind after Bhutto
refused to join him. Sharif wants
Musharraf to restore Supreme
Court judges he dismissed after
imposing emergency rule Nov.
3. '
Although Musharraf lifted
the emergency Dec. 15, he has
refused to reinstate the deposed
judges.
Also Thursday, Aitzaz
Ahsan, a prominent lawyer at
the forefront of demands that
Musharraf reinstate'the judges,
was released from house arrest
for the three-day Islamic holi-
day of Eid al-Adha, his wife,
Bushra Aitzaz said. He has


been detained since Musharraf
imposed the state of emergency.
Aitzaz, president of the
Supreme Court Bar Associa-
tion, spent the day visiting
judges and meeting with sup-
porters and journalists in
Lahore, she told The Associat-
ed Press by telephone from the
family home in Lahore.
"He is very upbeat. We will
win this battle," she said of
Ahsan's calls for reinstatement
of the judges.
The deposed Supreme Court
chief justice, Iftikhar
Mohammed Chaudhry, plans to
offer Eid prayers at a mosque in
the capital Islamabad on Fri-
day, a lawyer said.
Lawyers will gather near
Chaudhry's official residence,
where he has been living under
tight security since his ouster,
to accompany him to the
mosque, said Athar Minallah,
a senior opposition lawyer.
"The interiorminister has
said that he is free to go to a
mosque," Minallah said.










T THE TRIBUNE






FRIDAY,DECEMBER 21, 2007


SCINBo snstibuia~


Nassau needs city





'with global heft'


LOM Securities
(Bahamas) to
'vigorously
defend' claims

By NEIL HARTNELL
Tribune Business Editor
A BAHAMAS-BASED
securities broker/dealer and
its affiliates yesterday pledged
to "vigorously defend our-
selves" against the US Securi-
ties & Exchange Commis-
sion's (SEC) "unfounded alle-
gations" that it participated in
two "fraudulent" 'pump and
dump' schemes to manipulate
the prices of two microcap
stocks.
The SEC's filing of a law-
suit in the US District Court
for the southern district of
New York on Wednesday is
the culmination of an almost
five-year investigation into
LOM Securities (Bahamas)
and its Bermuda parent, LOM
Holdings, Lines Overseas
Management (LOM), LOM
Capital and LOM's Cayman
affiliate in relation to the
alleged scheme.
All the companies were
named as defendants in the
scheme, along with Scott
Lines, LOM Holdings' presi-
dent and chief executive, and
his predecessor as president,
Brian Lines, who resigned in
2005.
The SEC is alleging that
brokerage accounts at LOM
(Bahamas) were used to con-
duct trades as part of schemes
to artificially inflate the prices
of two US-listed over-the-
counter-bulletin board stocks,
Sedona and SHEP Technolo-
gies. Collectively, the two
schemes were alleged to have
netted the Lines brothers and
two customers $5.8 million in
"illegal proceeds".
Yet Craig Lines, direc-
tor/manager of LOM Securi-
SEE page 9B


Commission

to review

the Financial

Providers Act
N By CARA BRENNEN
BETHEL
Tribune Business
Reporter
THE Securities Commission
of the Bahamas plans to review
the Financial and Corporate
Services Providers Act in the
New Year, it was revealed yes-
terday, amid industry concerns
regarding deficiencies in its
enforcement and uncertain pro-
visions.
Hillary Deveaux, the Com-
mission's executive director,
told The Tribune: "We had
meetings with industry partici-
pants. Some of their concerns
were brought to our attention.
We intend to review the legis-
lation to address these issues."
Among the concerns
expressed over the administra-
tion of the Financial and Cor-
porate Services Providers Act
are the need to rationalise the
difference in fees paid by com-
panies versus individuals; the
implication for non-payment of
fees by licensees; the lack of a
definition of "financial services"
in the Act; and a clarification
of the policy of granting a
licence to conduct specific activ-
ities versus a licence to conduct
financial and corporate services
generally.
The Securities Commission
will conduct the review after it
formally takes over the respon-


sibilities held by the Inspector
of Financial and Corporate Ser-
vices Providers from January 1,
SEE page 7B


* By NEIL HARTNELL
Tribune Business
Editor
THE Government was
yesterday urged by the Nas-
sau Tourism and Develop-
ment Board's (NTBD)
chairman to "make a clear
statement as to where it
stands" on relocating down-
town Bay Street's commer-
cial shipping facilities, as this
was key to attracting new
investors and moving the
city's redevelopment for-
ward.
Charles Klonaris, telling
The Tribune that he sup-
ported the recommendation


* By NEIL HARTNELL
Tribune Business Editor
FREEPORT Concrete achieved a more-than
$2 million turnaround by transforming a $1.993
million loss into a modest $78,000 net profit for its
2007 fiscal year, the company's chief executive
saying yesterday the firm "would really be crunch-
ing up the profits" if it could purchase more inven-
tory.
Ray Simpson told The Tribune that the compa-
ny's main "challenge" was to raise enough capi-
tal/cash flow to enable it to purchase more inven-
tory for its Freeport-based Home Centre store,
as additional bank financing had been cut-off due
to the fact that the company was close to its over-
draft limit.,
This, Mr Simpson said, meant that Freeport
Concrete was totally reliant on cash flow from
existing sales to finance inventory purchases for the
Home Centre. As a result, the retail outlet was not
carrying enough inventory to match the level of
demand for building materials on Grand Bahama
to generate sales and increased profitability.
Mr Simpson indicated to The Tribune that
Freeport Concrete was mulling going to the capi-
tal markets to raise additional financing for inven-
tory purchases, and would preferably seek equity
rather than debt.
Prospects for a capital-raising move had bright-


A-


* Government urged to 'make a clear statement as to where
it stands' on shipping facilities relocation from downtown
* NTDB chair backs relocation and Ecorys plan, as
move critical to supporting Bahamas' tourism and financial
services position
* Economic incentives to revitalise downtown to be
included in 2008-2009 Budget, as transport/parking paper


presented to government

to relocate the commercial the Ecorys-Lievense report,
shipping facilities to a new said the Bahamas needed a
$235 million purpose-built city with "global heft" to
port in southwestern New maintain its tourism and
Providence, as outlined in financial services position.


"I think it's a very well
put-together and valid
proposition for moving the
downtown terminals and
relocating them," Mr
Klonaris said of the Ecorys
report, details of which were


* BISX-listed firm generates modest
$78,000 profit for fiscal 2007,
compared to $1.993m loss in 2006
* Firm 'really be crunching out
profits' if had capital to finance
more Home Centre inventory
* Management mulls equity capital
raising, such as rights issue
* Auditors note $1.5m current
assets/liabilities deficit and bank
covenants breach

ened as a result of the modest profit generated
for the year that closed on August 31, 2007, with
Mr Simpson saying this might help bring brokers
and investments banks such as Fidelity and CFAL
"back to the table".
"Rather than have debt", the Freeport Con-
crete chief executive said he would prefer to raise
equity through either a private placement of shares
or a rights issue.
The latter would involve issuing additional shares
SEE page 8B


revealed by The Tribune
this week.
"It shows the structure
can be financed. As chair of
the NTDB, we feel we sup-
port the relocation of the
container ports."
He added that the report,
with its proposed port
design, estimates of cargo
growth and economic analy-
sis and feasibility study, had
"put together very clearly
the design needed to accom-
modate growth up to 2035".
Mr Klonaris said the Eco-
rys report also "spelt out
very clearly" that relocating
the commercial shipping
SEE page 6B


M By NEIL HARTNELL
Tribune Business Editor
FREEPORT Concrete is anticipating that it will suffer a
small loss, one much less than the prior-year comparative, in its
fiscal 2008 first quarter largely due to the absence of large com-
mercial contracts its concrete division held last year.
Ray Simpson, the BISX-listed firm's chief executive, said
that for the three months to November 30,2007, said sales at the
Home Centre retail outlet were likely to be flat in comparison
to the year-before period, while concrete plant sales were like-
ly to be slightly off.
"The first quarter will be similar to the first quarter last year,
but it will not be as big a loss," Mr Simpson told The Tribune.
"I believe the loss will be minimal. The concrete plant has not
got the Associated Grocers job this time. That's really where we
make the money. We need those big projects, doing 200 yards
to 300 yards of concrete every day, or every other day."
Mr Simpson pointed out that Freeport Concrete "had every-
thing under control on costs", the move into the Home Centre
Superstore having reduced its sites from three to one. All the
one-off costs and writedowns associated with the move were
incurred in the previous financial year, and would not be seen
going forward in 2008.
Freeport Concrete's profits for the year to August 31, 2007,
were driven by its aggregate and ready-mix concrete plant,
where net income rose from $33,000 in fiscal 2006 to $472,000.
SEE page 5B


think your health plan will cover you

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Reality Check.
With most plans you're on your own after 70!
But with BahamaHealth, once you're
a member you can be covered for life.
Call for information on individual and group
coverage, or log on to www.familyguardian.com
today!


I3~t fiji itia


(f llll


FAMILY GUARDIAN
INSURANCE COMPANY LIMITED


IUTHERA CORPORATE CENTRE: EAST BAY STREET, NASSAU P.O. BOX SS 6232


Extra capital needed to


boost Freeport Concrete's


$2m-plus turnaround


I _








THE TRIBUNE


PAGE 2B, FRIDAY, DECEMBER 21, 2007


I


v' ~


10 ,rpCveiopment Officer

3enerlh \Voildvide 1s looking to ieciuit an experienced Business Develc.rpment M:i..r> f.i it
medical irnsul 2nce oper atCins in the Bahamas and in the Canbbean amea

We ,ie committed to growing oui business based on quality of service nd product an-.1 u ieqLre
a hiahl. rri:tiv.ated individual to develop business with o01 paitneis Thi9- will in, l.,e ili ir] ,ath
partners and btroei in the Bahamas aand in the wide Caiitbearn .te '.ih re .-:ii ll ,e e. 'c,:t.
1 t, d- el,.p bunes3 and gicw our portfolio profitably

W'Vrth it leat thiee VyeZ3' experience in the medical insurance mai.et ,.: 1 '..ill -. excellent t
rnn ri'n, al skills and a strong record of team building and leadership T:, be .uc,:c .fll ....1.11
need energy. drive and initiative, coupled with excellent communications ; i ll c i :z tliil -i
* you ,,ill have ability to tackle and solve problems and create winning s:4uti,:n?

If you believe you have these attributes and want to join the team. please appl-" t: .. er:l ..,..:ii
, CV and a co,,ering letter to-
.... .. ..... .... .-.-.,.s_. . ..i. -., .... .. ..

Tina Canbildge
3nererhl '.Vildide. PO Bo, AP-59217. Slot 2002, Nassau Bahamas
i.;.u can 2a;o email vCou CV for the attention of Tina Cambridge to
. irbbeanrec, uitment"n$erneal-worldwide corn
Inti..e.', '..ill be held onr, the week of the 7th January 2008


ENorldwide


., *'* ; '* .'\
* .. !, :, *,, ;^"

. ,. .. !.* / -, . ,: ,. S ,..:





* :. p^..l,. '?l_
'.... -.,.:Z
.- ,**


Fri


* By CARA
BRENNEN-BETHEL
Tribune Business
Reporter
THE Bahamas Telecom-
munications Company's
(BTC) attempt to prevent
Systems Resource Group's
(SRG) IndiGo Networks
subsidiary from using Voice
over Internet Protocol
(VolPl) technology in its
network is about BTC not
wanting its value to drop
before the company is pri-
vatised, SRG's attorney
told the Privy Council yes-
terday.
BTC is attempting to
appeal a Court of Appeal
verdict that struck out an
action it brought seeking a
declaration that it was the
only provider licensed to
us& Voice over Internet
Protocol (VolP) technology
for voice telephony ser-
vices. The appeal of the
Court of Appeal verdict
was heard yesterday before
the highest court for the
Bahamas- the Privy Coun-
cil which is sitting in Nas-
sau this week.
Brian Moree, senior part-
ner at McKinney, Bancroft
& Hughes, alleged that
BTC wanted to extend its
exclusivity period for VoIP
technology until after the
company's long-awaited
privatization had been com-
pleted,. le argued that
BTC felt that if it lost its
monopoly, the Government
would have to sell a 49 per
cent stake at a much lower
price.
Mr Moree also argued
that if the Bahamian
telecommunications indus-
try were to move forward,
it was essential that there
be a competitive environ-
ment. He said this is retard-
ed if every time a regula-
tor grants a licence to
another company, BTC
takes legal action, as it
results in too much uncer-
taintly.
lHowever. BTC's attor-
ney. Dr Lloyd Barnett
argued that the PUC. in
granting SRG's licence,
violated his client's legal
authorisation to be the only
telecoms carrier in the
Bahamas authorised to use
VoIP in the provision of
voice telephony services.


the BTC action on proce-
dural grounds. They argued
that BTC's attempt to seek
declaratory relief from the
courts was tantamount to
an attempt to appeal the
PUC's decision to license
IndiGo Networks to use
VolP.
However, the prescribed
timeframe in which BTC
could challenge the PUC's
decision had expired, and
they argued that BTC was
not going down the statu-
tory route but instead using
a declaratory action to
achieve its purposes.
Then-Supreme Court Jus-
tice Hartman Longley had
ruled in favour of BTC, but
the Court of Appeal over-
turned that by finding in
favour of the PUC and
SRG.
Yesterday, both Mr
Moree and the PUC's
attorney, Ferron Bethel,
alleged that during the pub-
lic notification process in
which notice of SRG's
intent was published, BTC
failed to challenge the
application within the legal
specified timeframe.
The attorneys told the
Privy Council that BTC
had more than ample time
to respond to the applica-
tion process and did not.


m


BTC's VoIP challenge





aims to preserve value


,...


He explained that the
exclusivity period had not
yet expired when the
license was granted.
BTC is attempting to
appeal a Court of Appeal
verdict that struck out an
action it brought seeking a
declaration that it was the
only provider licensed to
use Voice over Internet
Protocol (VoIP) technology
for voice telephony ser-
vices.
This strikes at the heart
of IndiGo Networks' busi-
ness. IndiGo Networks'
voice telephony is heavily
reliant on the use of VoIP
technology.

Courts
BTC's action was seeking
declaratory relief from the
Bahamian courts that it was
the only telecoms carrier in
the Bahamas authorised to
use VoIP in the provision
of voice telephony services.
In turn, it was also look-
ing for a declaration that
the PUC did not have the
authorisation under the
Telecommunications Sector
Policy to allow IndiGo Net-
works to use VoIP.
But SRG and the PUC's
attorneys sought to dismiss


fA O








THE TIBUN FRIAY, ECEMER 2, 207,IPGES3


Six-month 'deadline'




on EPA services offer


* By NEIL HARTNELL
Tribune Business Editor
THE Bahamas is facing a six-
month deadline to submit its
services and investments offer if
it is to be included in the CAR-
IFORUM offer on the Eco-
nomic Partnership Agreement
(EPA), it was revealed yester-
day.
Materials disseminated by the
CARICOM Regional Negoti-
ating MachinerY (CRNM) said
the EPA contained a "special
concession for the Bahamas and
Haiti to join the agreement, but
they'must submit their commit-
ments on investment and ser-
vices within six months".
Zhivargo Laing, minister of
state for finance, told the
House of Assembly earlier this
week that it would take six
months for the Bahamas to
develop an EPA offer on ser-
vices and investments, as the
Government would need to
consult the private sector on
this. When completed, a ser-
vices offer by the Bahamas


Baha Mar:


would be added on to the CAR-
IFORUM agreement.
Mr Laing said: "Having spo-
ken to the lead negotiator for
the CARICOM Regional


We gave


Cafe Johnnie Canoe

$250,000 rent drop

BAHA MAR said yesterday it had provided Cafe Johnnie Canoe's
owners with a $250,000 rent reduction over a six-month period, which
they could have put towards relocation costs.
The Cable Beach Resorts owner and developer behind a proposed
$2.4 billion redevelopment, said that when it purchased the Nassau
Beach Hotel, Cafe Johnnie Canoe had a lease running until October
2008.
It added that Harry Pikramenos, one of its owners, negotiated a deal
in September 2006 that would give him a rent reduction in return for
agreeing to terminate the lease by July 31, 2007.
Baha Mar said: "A notice was given in July advising Mr Pikra-
menos that even though his lease expired he would be allowed to
remain until January 3, 2008. Another letter was sent to Mr Pikramenos
in November advising him that he could remain until January 31,
2008 even though Nassau Beach Hotel would be accepting its last
guests on January 3, 2008.
"Baha Mar was under the impression that Mr Pikramenos intended
to relocate Cafe Johnny Canoe to another location on West Bay
Street. It is unfortunate his alternate plans fell through."


Negotiating Machinery
(CRNM), Ambassador Dr
Richard Bernal, and having spo-
ken to the lead EU negotiator
in attendance in Barbados, that
the arrangement being worked
out is one that will allow the
Bahamas to sign on to the
CARIFORUM-negotiated
EPA.
"But in the initial instance it
will be only for the goods, mar-
ket access aspect."
He added that the Bahamas
would negotiate the services,
investments and "other aspects"
of the EPA "in the next six
months".
Mr Laing said one of the fac-
tors holding the Bahamas back
from making a services offer
was that "no consultation has
been done with the private sec-
tor that would enable us to sign
on or make a serious offer that
they were really comfortable,
with and reflected their needs".
The EPA agreement is sup-
posed to be signed with the EU
by December 31, 2007, and
negotiations were completed in
Barbados on December 16.. It
will replace the Cotonou Agree-
ment, a one-way trade prefer-
ences regime that benefited the
Bahamas and the Caribbean in
terms of providing duty-free
market access to European
states for their exports.
Yet the Cotonou Agreement
runs against World Trade
Organisation (WTO) rules,
which call for reciprocity or
trade preferences that flow to
both parties in a trade agree-
ment, and the EU is not going
to seek a WTO waiver for that
agreement's continuation.
Therefore, and with the
Bahamas unable to access the
EU's General System of Pref-
erences (GSP) because it is clas-
sified as a developed nation, this
nation's exporters to Europe -
chiefly the fisheries industry,
Bacardi's rum products (for one
final year), and Polymers Inter-
national would likely lose their
duty-free market access to the
EU if the Bahamas did not sign


on to the EPA by December
31, 2007.
In the case of the Bahamas,
the "trade-off" to preserve
duty-free market access for this
nation's exporters was to give
up some $10-$14 million in
import and stamp duty revenues
earned from EU-originated
imports per year.
This was seen as helping to
maintain the Bahamas'
favourable $20 million net pos-
itive trade balance with the EU,
this nation having exported $66
million worth of products in
2004 and imported just over $44
million. Many EU imports are
allowed to enter the Bahamas
duty-free, given that they are
used in the tourist industry.


4- .


monday, Tuesday, Wednesday
december 24, 25 and 26


ay, December 27

-December 28


Monday, December 31
'And Tuesday, January 1

Wednesday, JanuarN 2
Nassau Chambers
S s>'>, Sn Houseic
Shirle. SIreed & icoria A\enue
FO Bo\ N-_"_
Nasaju Ne% PFro idence. Bahamas
T l 1.12 1 2 -4131).' -FaO 2421 32-S.l:o9.1
A, '^- '"".,w :l^r -.t ,-, \._ ..


This is to inform the public that

the road known as

BRACE RIDGE

which is off of East Bay Street

between New Gate Road and

Johnson Road,

WILL BE CLOSED TO THE PUBLIC ON:


DEC M B 2, 2007



BRACE RIDGE MANOR ASSOCIATION, LTD.
P.O. BOX N-1039
NASSAU, BAHAMAS


Closed

Normal Business Hours


Closed at 1 00 pm


Closed

Normal Business Hours
Freeport Chambers
The First Commercial Centre
3rd Flo.or. Suie 9
PF B F-42533 ..
Frcepo:'r[. G-rand Bahari 4 B.ilama-
Tel 24-i 351 2--47 F ,x ;4 1." ,'"5


Having trouble making international calls?



Switch to IndiGO!

the better telephone company


0fo in TigntwE TW 0R- 0 0K S
w iin o 0 cBe rTlpo


SGRAHAM,THOMPSON &CO.

COUNSEL S ATTORNEYS-AT-LAW -NOTARIES PUBLIC
To our Valued Clients please note our
SPECIAL HOLIDAY HOURS


VACANCY FOR THE POSITION OF:

NETWORK OPERATIONS TECHNICIAN

Core Responsibilities:

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

Knowledge Skills and Abilities:

* Advanced knowledge various Windows operating systems to
provide help desk support and to troubleshoot end-user and back
office systems.
* Sound knowledge of computer hardware to execute hardware
repairs and upgrades.
* Basic knowledge of networking, especially protocols in use by
the company to troubleshoot and assist in rectifying network
issues.
* Analytical and problem-solving skills to assess issues and
technical information, examine alternatives, and use judgment
to provide reasoned recommendations.
* Must be open to new technology and ability to problem solve
in support of the network and central database systems.
* Associates degree in a computer-related field, industry standard
network certifications required, plus two (2) or more years of
proven technical support and network systems experience.

Benefits include: Competitive salary commensurate with experience
and qualifications; Group Medical (includes dental and vision) and
life insurance; pension scheme.

Interested persons should apply no later than December 31 st 2007
to:
DA #04445B
c/o The Tribune
P.O. Box N-3207
Nassau, Bahamas


-, "n" Lmm m --P-- mmo*


-


FRIDAY, DECEMBER 21, 2007, PAGE 3B


THE TRIBUNE





THE TRIBUNE


PAGE 4B. FRIDAY, DECEMBER 21, 2007


Urgently seeking Director Of Human Resources
5-10 years experience, salary commensurate with
experience and qualifications.

Write to: P.O. Box CB.12707
Nassau, Bahamas


Share
your

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


HTHE

p^n

[. !


CLEARING BANKS ASSOCIATION
Announces


hristmas and New Years

Holidays Pa king Hours




Monday, December 24,2007
9:30 1:00p.m.


Tuesday, December 25, 2007 Closed /4
Wednesday December 26, 2007 Closed


Regular Banking hours will resume on
Thursday, December 27, 2007 (9:30a.m.- 3:00p.m.) t
Friday, December 28,2007 (9:30a.m.- 4:30p.m.)
"Monday, December 31,2007 (9:30a.m.- 1:00p.m.)


P Tuesday, January 1,2008 Closed \


Regular Banking hours will resume on
Wednesday, January 2,2008


Bank of The Bahamas Limited
Citibank, N.A. e
Commonwealth Bank Limited
Fidelity Bank (Bahamas) Limited
FirstCaribben International Bank (Bahamas) Limited
Royal Bank of Canada
Scotiabank (Bahamas) Limited
+ -y S,- -+14' ^^ '


Judges to



decide on



competition



winners


Sheraton
Cable Beach
RESORT
The new 700 room Sheraton Cable Beach Resort, Nassau, The Bahamas is looking for
DIRECTOR OF FUN
The qualified candidate must function as a key leader of the hotel will be responsible to set the
programming and lead the execution of all guest leisure entertainment. The position is responsible
to drive additional revenues and profits for operating departments. This is an Executive Committee
level position.
ESSENTIAL FUNCTIONS
* Creation & Execution
* Strategic Planning & Profit Generation
* Lead the Fun Team
* Metrics & Brand Compliance
* Best Practice/Research & Development
Skills & Abilities
Excellent communication skills, both verbal and written
High level of energy and enthusiasm
Ability to be creative, resourceful, and innovative
Positive attitude
Showmanship and stage presence
Physical Demands
Work tasks will be performed both indoors and outdoors
Requires both weekday and weekend work shifts from as early as dawn
in the morning until late in the evening.
Qualification & Experience
Bachelor's Degree required or equivalent work experience
Minimum of 5 7 years of department head experience in Hotel, Resort,
Cruise, Entertainment or similar industry.
Licenses or Certificates
CPR and First-Aid Certification
Qualified applicants are invited to visit our website
At
www.Sheraton.jobs to apply for this position.


by the Bahamas Financial Ser-
vices Board (BFSB) and,
specifically, the Careers Fest.
This year's judging panel com-
prised La'Nelle Deleveaux
(Ernst & Young), student of
the year; Marvin Nairn
(Citibank), achiever of the
year; and Barbara Ferguson
(RBC Royal Bank), profes-
sional of the year.
The photo here shows the
judges with Evan Dean, pres-


ident of Bahamas Business
Solutions (BBSL), and
Vaughn Miller, manager of
BBSL's new computer store,
TechWise. The prizes for both
the essay and speech compe-
tition are donated by BBSL,
corporate sponsor of the
Careers Fest.
Pictured L to R are: Evan
Dean, La'Nelle Deleveaux,
Marvin Nairn, Barbara Fer-
guson and Vaughn Miller.


Credit Suisse (Bahamas) Limited
is presently considering applications for a

RECONCILIATION'S CLERK

The position is open to candidates with the following minimum
requirements:

Qualifications:

PC Literacy (MS Word, Access, Excel)
Associate's degree with concentration in Finance, Economics,
Accounting or Business Administration
Prior reconciliation experience would be an asset

Personal Qualities:
The successful candidate must be able to demonstrate
Excellent written and verbal communication
Excellent organizational skills
Self motivation in completing tasks
The ability to quickly learn and understand processes
Excellent analytical skills

Benefits provided include:
Competitive salary and benefits

ONLY PERSONS MEETING THE ABOVE CRITERIA NEED APPLY.

Applications should be submitted:
Human Resources Department
P.O. Box N-4928
Nassau, Bahamas
or via fax 356-8148


DEADLINE FOR RECEIPT OF APPLICATIONS IS
JANUARY 4., 2008.




CREDIT SUISSE


THE Judging Panel for the
2007 Financial Services Indus-
try Speech and Essay Compe-
titions met earlier this week
to make the final selection of
the winning essay and oral
presentation, prizes for
which will be presented at a
special ceremony later this
week.
The competitions are part
of the School Outreach Pro-
gramme sponsored each year


I


BUSINESS













Freeport Concrete estimates 'minimal' loss


FROM page one
Concrete and aggregate
sales rose by 4.9 per cent to
$4.755 million, up from $4.534
million in 2006, while costs
declined slightly to $3.426 mil-
lion from $3.549 million. Sell-
ing, general and administra-
tive expenses also fell from
$923,000 to $856,000.
"'There was a couple of big
projects that helped to drive
concrete sales up on the pre-
vious year," Mr Simpson said,
one of them being the recent-
ly-opened $8 million Interna-
tional Distributors of Grand
Bahama warehouse, which it
supplied all the concrete for.
On the Home Centre side,
though, Freeport Concrete


incurred a net $393,000 loss.
This, though, paled in com-
parison to the previous year's
$2.046 million.'
Sales at the Home Centre
were essentially flat for fiscal
2007, declining from $11.528
million in 2006 to $11.468 mil-
lion.
Yet Mr Simpson described
as "pretty good" the compa-
ny's ability to generate almost
$12 million in per annum sales
on an average monthly inven-
tory of $1.8 million.
"Where we improved sub-
stantially this year was on
controlling our inventory',
with regard to shrinkage,
error," Mr Simpson added.
He described inventory
shrinkage as "minuscule",


having fallen to just 0.15 per
cent of sales in 2007, which
was "unheard of".
Overall, Freeport Con-
crete's total sales for fiscal
2007 remained flat, standing
at $16.224 million compared
to $16.062 million the year
before. Where the company
gained, though, was on the
more than $1.7 million reduc-
tion in the cost of sales to
$11.207 million, compared to
$12.984 million in 2006.
Meanwhile, Freeport Con-
crete was set to move its con-
crete plant to a new facility
inside the Bahama Rock site
by end-January 2008, a move
estimated to save $80,000 per
annum in annual lease costs.
"We buy all our sand and


GIBSON, RIGBY & CO.

Counsel and Attorneys-At-LawNotaries Public



Notice

Please be advised that our office hours for the
Christmas Season are as follow


Monday
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday


24th December, 2007 Closed at 1p.m.
25th December, 2007 Closed
26th December, 2007 Closed
27th December ,2007 Open 9a.m.-5p.m.
28th December, 2007 Open 9a.m.-5p.m.
31st December, 2007 Closed at Ip.m.
1st January, 2008 Closed
2nd January, 2008 Open 9a.m.-5p.m.


Our NewLocation
(The Former Gay Lord's Restaurant Site)

Ki-Malex House, Dowdeswell Street,
Nassau, The Bahamas.

Tel: 302-6100
Commerical Fax: 302-6106 Litigation Fax: 302-6107








Core Responsibilities:

Provides support and maintenance of core applications and
database infrastructure.
Assists with documentation and maintenance of technical
standards and operations.
Troubleshoots system and application problems, including
issues and servers.
Reviews and tests technologies for potential purchase by
researching computer industry information.
Interfaces with all staff and IT vendors in carrying out duties.
Performs application installations and configurations,
preventative maintenance and repairs.
Executes, coordinates and assists in the implementation of
new technologies.

Knowledge Skills and Abilities:

Advanced knowledge of Oracle 8 a must (SQL 2003 and
Microsoft Access a plus) to manage and Support Central
Database Systems.
Advanced knowledge of AIX Unix 5.0 and various Windows
operating systems to provide help desk support and to
troubleshoot end-user and back office systems.
Knowledge of networking, especially protocols in use by
company to troubleshoot and rectify the sources) of network
problems.
Analytical and problem-solving skills to assess issues and
technical information, examine alternatives, and use judgment
to provide reasoned recommendations.
Must be open to new technology and ability to problem solve
in support of the network and central database systems.
Bachelor of Science degree in a computer-related field, industry
standard network certifications required, plus two (2) or more
years of proven network systems experience.

Benefits include: Competitive salary commensurate with
experience and qualifications; Group Medical (includes dental
and vision) and life insurance; pension scheme.

Interested persons should apply no later than December 31st,
2007 to:
DA #04445A
c/o The Tribune
P.O. Box N-3207
Nassau, Bahamas


aggregate from Bahama
Rock. We're right inside the
site, so there will be no truck-
ing charges to haul from
Bahama Rock to our concrete
site," Mr Simpson said.
He estimated that the sav-
ings on the trucking costs
would be equivalent to
$10,000-$15,000 per month.
"The general economy in


Grand Bahama has been stag-
nant over the past couple of
years, especially in the last 12
months, and yet despite this
we have maintained our sales
revenues and managed to
produce a net profit of
$78,000 for the year, com-
pared to a net loss last year of
$1.9 million," Mr Simpson
said.


"We believe the various
pending developments in
Grand Bahama coming on
line over the next year will
result in more jobs, and trans-
late into more local building
of both homes and commer-
cial projects.
"All of this will help in
improving revenue prospects
for our company."


Security & General
INSURANCE





HOLIDAY NOTICE



Our offices will close

at 5:00pm on Friday, December 21st

and will reopen on

Thur-dav, the 27th Decmnember, ar 9:00am.

\\'e apoloiz:e lfor any inconvenik-nlce

rthis may cause.

Have a Happy Holiday!






St'RUlRI'I'Y & (;N RI I,\ NSdLTR'\ N [.Vl \l ?)
PO Box N**'-D N.I..I. Baliannn '!,>h, nc 124B- :2,"-710 Fl -,:421 32B:,,,,


R O R T 0

Crystal Palac Casino

Baha Mar, a 500-acre, mixed-use destination resort complex represents the
single largest resort investment in the history of The Bahamas. Baha Mar
owns and operates the Wyndham Nassau Resort and Crystal Palace Casinto,
the Sheraton Cable Beach Resort and the historic Nassau Beach Hotel.

CAREER OPPORTUNITIES

Wyndham Nassau Resort & Crystal Palace Casino seeks to hire a professional
individual for the following position:

INFRASTRUCTURE MANAGER

Top contenders for this position must possess the following

Performs all Server Hardware and Server Software related
maintenance, including patches, upgrades, configuration and operating
systems.
Administers all onsite and offsite backup. E-Vault and E-mail disaster
recovery.
Assists in telecommunications system tuning, configuration, upgrades.
performances, disaster recovery, and usage statistics.
Develops tools and procedures for daily operational support and
trouble shooting of LAN/WAN facilities.
Supports development activities that require specialized system
programming relating to the Server, LAN/WAN and
Telecommunications environment.
Performs Server and LAN/WAN management services including
creation/modification of user profiles and account management.
Administers and monitors the procedures used to create, modify and
manage client accounts.
Maintains the Server and LAN/WAN systems documentation to
optimize operating efficiency.
Insures strict adherence to all Information Technology policies and
procedures.

QUALIFICATIONS
10 years experience in the Information Technology Industry .
Must have a High Schools Diploma and IT related courses of at least
two (2) years.
Cisco CCIE and MS MCSE preferred or equivalent hands on
experience.
Exposure to ISO 9000.
Expert in WAN/LAN Security including VPN's and Firewalls.

We offer an excellent benefits package and competitive compensation. For
full consideration, all interested applicants should forward a copy of their
resume' to the attention of Director of lluman Resources at
jobs@cablebeachresorts.com or fitx to (242) 677-4140.


THE TRIBUNE


FRIDAY, DECEMBER 21, 2007, PAGE 5B








PAGE B, FIDAY DECMBER21, 007UHEITIBUN


FROM page one

facilities to accommodate
Bay Street's revival and
New Providence's growth
was "critical for jobs and the
empowerment of Bahami-
ans to participate in this
growth".
"It's important they [the
Government] make a clear
statement as to where they
stand on the relocation of
the container ports," Mr
Klonaris said. "I think it's
time the Government made
clear its position.
"We consider that as a
very integral component of
the redevelopment of the
city to encourage investors


to come in, or determine
how we go forward."
The Ecorys report had
shown how Nassau's water-
front and harbourfront
could be opened up and
reclaimed, turning the real
estate into marinas, restau-
rants and retail space.
"It has the opportunity to
transform the city," Mr
Klonaris said of the pro-
posed downtown redevelop-
ment. "This has always been
my view. If the Bahamas is
going to be a first class
tourism and financial ser-
vices destination, it needs a
city with global heft.
"It's important for all
aspects of government to
appreciate how important


the redevelopment of the
city is, and the relocation of
the container port is an inte-
gral part of that. You will
not see 16-wheel cargo
trucks causing congestion
and-pollution in the down-
town area."
Mr Klonaris said "all that
would be eliminated" with
the private sector's pro-
posed parking and trans-
portation solution for down-
town Nassau and Bay Street,
which has been submitted to
the Government in the form
of a White Paper for its
feedback and approval.
Both the Prime Minister
and the Ministry of Works
have copies, although the
private sector has yet to


meet with Earl Deveaux,
minister of works and trans-
port, over the proposal to
deal with Bay Street's short,
mid and long-term parking
and transport needs.
The paper proposed cre-
ating three jitney depots to
serve downtown Nassau -
one in the east at the KC
New Car Sales Parking Lot;
one in the south at the Gov-
ernment's Post Office Build-
ing; and another to the west
on the vacant land adjacent
to the now-demolished
Europa Hotel.
Yet the latter location
may already have been lost,
as The Tribune understands
the property may have been
sold to a private buyer.


Meanwhile, Mr Klonaris
said the Government had
agreed to the private sec-
tor's recommendations that
economic incentives and
economic development
zones be created to revi-
talise parts of downtown
Nassau that had deteriorat-
ed, such as the area east of
the Bay Street-East Street
junction.
"That's down the road,
because they've got to put
it in the 2008-2009 Budget,
the economic incentives and
economic zones we've iden-
tified," Mr Klonaris added.
The Government had also
asked the NTDB and pri-
vate sector to look at the
Airport Authority as a tem-


plate for the.authority that
would be created to manage
downtown Nassau.
"There are one or two
members trying to identify
developers to sit down with
stakeholders and put devel-
opment plans together," Mr
Klonaris said.
"To develop those acres
on the waterfront is not
going to happen overnight.
It takes time. These things
take many years, and to
have everything ready is
going to take three to four
years.
"It's critical that Govern-
ment makes its position
known, not only for devel-
opers but also for the stake-
holders."


Legal Notice
NOTICE

LEADING COMMERCE LTD.

(In Voluntary Liquidation)


Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
14th day of December 2007. The Liquidator is Argosa
Corp. Inc., P.O.Box N-7757 Nassau, Bahamas.





ARGOSA CORP. INC.
(Liquidator)




.1l C/io' L 1 a-1, d(

,1 A dl/u1 B/d \ fr 7tWa

Management and Staff





oht's3


Holiday Christmas Hours
I Closed Monday Dec. 24th, 2007 @12:00p.m."
Re-open Thursday Dec 27th 2007 @8:00a.m iN


New Years Hours:
Closed Monday Dec. 31st, 2007 @12:00p.m.\
"Re-open Wednesday,. Jan 2nd 2008 (@8:00a.m.






MAINTENANCE/

HANDYMAN WANTED
A leading retail company has an immediate
opening for a Maintenance/Handyman

Basic Requirements

1. Should have a basic working
knowledge electrical, plumbing and
general carpentry repairs.

2. Must have a clean current Police Record

3. Must have own transportation

4. Must be a self-starter with drive and
determination

5. Must be able to work with minimum
supervision.

6. Previous experience not required but
would be an asset.

Persons meeting the above requirements should
submit their Resumes via fax to the address
below.

The positions offer career opportunities with
excellent salary and benefits package.

THE OPERATIONS MANAGER
Fax: 328-5902


Legal Notice
NOTICE

GIGANTIC POSSIBILITIES LTD.

(In Voluntary Liquidation)


Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
14th day of December 2007. The Liquidator is Argosa
Corp. Inc., RO.Box N-7757 Nassau, Bahamas.





ARGOSA CORP. INC.
(Liquidator)



Legal Notice
NOTICE

CENTURY GREEN INTERNATIONAL LTD.

(In Voluntary Liquidation)


Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
14th day of December 2007. The Liquidator is Argosa
Corp. Inc., P.O.Box N-7757 Nassau, Bahamas.





ARGOSA CORP. INC.
(Liquidator)


Legal Notice
NOTICE

ERAWAN LTD.
(In Voluntary Liquidation)


Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
14th day of December 2007. The Liquidator is Argosa
Corp. Inc., RO.Box N-7757 Nassau, Bahamas.






\ARGOSA CORP INC.
(Liquidator)



Legal Notice
NOTICE

BONETE INC.
(In Voluntary Liquidation)


Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
14th day of December 2007. The Liquidator is Argosa
Corp. Inc., P.O.Box N-7757 Nassau, Bahamas.






\ARGOSA CORP. INC.
(Liquidator)


Leaal Notice
NOTICE

TRUMPET SLOPES INC.

(In Voluntary Liquidation)


Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
8th day of November 2007. The Liquidator is Argosa
Corp. Inc., P.O.Box N-7757 Nassau, Bahamas.





ARGOSA CORP. INC.
(Liquidator)



Legal Notice
NOTICE

ZOUG LIMITED

(In Voluntary Liquidation)


Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
12th day of December 2007. The Liquidator is Argosa
Corp. Inc., P.O.Box N-7757 Nassau, Bahamas.





ARGOSA CORP. INC.
(Liquidator)



Legal Notice
NOTICE

THENPRES LIMITED
(In Voluntary Liquidation)


Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
14th day of December 2007. The Liquidator is Argosa
Corp. Inc., P.O.Box N-7757 Nassau, Bahamas.






ARGOSA CORP.' INC.
(Liquidator)



Legal Notice
NOTICE

LAKE VASTHI INC.
(In Voluntary Liquidation)


Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
14th day of December 2007. The Liquidator is Argosa
Corp. Inc., P.RO.Box N-7757 Nassau, Bahamas.






\ARGOSA CORP. INC.
(Liquidator)


THE TRIBUNE


PAGE 6B, FRIDAY, DECEMBER 21, 2007









TR EDE, 7


Commission to



review the Financial


Providers Act


FROM page one
2008, onwards.
This move reduces the num-
ber of Bahamian financial ser-
vices regulators from five to
four, part of a wider move
towards regulatory consolida-
tion that will see the Bahamas
ultimately end up with one
'super regulator' or a 'twin
peaks' model with two regula-
tors.
Minister of State for Finance
Zhivargo Laing, announced
the appointment of the Securi-
ties Commission as the
Inspector of Financial and Cor-
porate Services Providers yes-
terday.
Prior to this, financial services
sector clients had to report to,
apply and interact with five
financial services regulators,
namely the Central Bank of the
Bahamas, the Securities Com-
mission, the Inspector of Finan-
cial and Corporate Services
Provider, Office of the Regis-


trar of Insurance Companies
(ORIC) and the Compliance
Commission.
"This appointment results in
the effective transfer of the
administration of the Financial
and Corporate Services
Providers Act from the Regis-
trar General's Office to the
Securities Commission. The
appointment also, from a prac-
tical perspective, reduces the
regulatory entities from five to
four," the minister said.
Mr Laing said the Govern-
ment was hopeful that the reg-
ulatory streamlining will be
completed within 18 months,
and pointed out that substan-
tial work will done in 2008. He
added that this 18-month period
may or not include the Central
Bank, as those issues are more
complex than the others.
In order to have a seamless
transfer of the Inspector of
Financial and Corporate Ser-
vices Providers' responsibilities,.
a number of measures will be


taken:
The application process for
new licenses and the renewal of
licenses will remain the same.
Although the current legisla-
tion does not provide for a
deadline in which annual fees
are to be paid to the Inspector,
it is required that payment for
the renewal of licenses for 2008
be made on or before January
31,2008.
Any application for a
license covering a period before
December 31, 2007, or any out-
standing payments due before
this date, should continue to be
sent to the attention of the
inspector at the Registrar Gen-
eral's department.
The Securities Commission
will no longer accept cash for
the payment of fees. Cheques
are the only acceptable form of
payment, and are to be made
payable to the Inspector of
Financial and Corporate Ser-
vices Providers via the Com-
mission.


STAR

General


Legendary Ps......Gloro.s.F...re .


br 'Legendary Past... Glorious Futurel' ,' .

Now accepting applications for Wta iers for Set er,2008
for the mfost a
EARLY LEARNING CENTRE (Ages.55) A I
mooraScrnm To-eachers .' Il


PRIMARY SCHOOL (Grades 1 -.6)


Classroom, Physical Education (Inluring teAcN
Swimming) Modem Languages (French and
Spanish) Special Needs
HIGH SCHOOL (Grades 7 -121 -, ,
Chemistry, Biology, Geography., Mattemai PI al Education, Home Econow'.,.
Guidance Counsellor, English Language afl Itktature, Music, Religious Education,'
Art, Information Technology, Business (ACOUnts and Economics)


CRITERIA FOR EMPLOYMENT

* I' tninjiiun ..I j E jchlheor': Degree from
rtc-c L i': un, .r i t.' conlirrned bL,' ,
certified copy of certificate
* ,. [ .' I i,- crd.ilic :t.:: in e .:lc .l l ,r c r
tejchin~ t i ti nir'c l rTmi-e't L',,' E cert.iled
cF',' ol Tnic -e
* .',ii n ". ** :upp:rr lire :-:hocl'"
A.. el-r tr I F.I:.F a miimotj e incluitig tre ,I'lng
I "l- 'lJl'l-.. : lch ,:, .. 'lAd i 'ce.d
i ..: 1 i ii L i ,J Lr'I ..t r :. 1 '.u L i '.I j .ir .
E [" I c -r l : it li i il l III 'i ,' l .j ic u r i'*
prtlcT.-: ..,
* T '.'..: p il i-. :,'r, bl i c-r.l i .I':e .
* cu.'u ce: tul ..i[.,l ,..: ir f ll t^ ,:=*.oe:,t r te
m ij r.i -cc"Tn: iri'..:.n r '.cilork i i hiTTrionyI
it..lh Chri 'ri Id FPrin.ril c : .'id1 ro :uppc.rr the
tn'p0h''e: c: the- E.'ll'tiini ,",'nlrerence ol
Ti. ,.:i -i:r I''hu'-.' ol which the
school is a part


QUEEN'SCOLLEGE... '


I the -.Ie:'. pi i. :- ic:.i n -h [EJ.har
En-ur- *a 'Iile:. C iniru!y, :, 'e ion


:, :
e


irid strong ,eirn:e 0i .-t .-IrfTl.,l t '
* C'lTer- rich .:uii:ulijuri
* 1: talted tL, tajcn.l r '.-. ....h.a Jed teach-
ing :tali
* I: u pl act. ".vhre c. II.:lltnc : [ r pl ct.i Jand
pursued, '.here tc t "hirg iJ l-jTung i',
inno'. ;t,.e and heart t caring lr other.-;
iItrr .'ric
* C'Tflr ,a competidie beuehits package,
including gratuit]'.. pen .i,,rj.l.!iitc i iand
dentl in.iurinc, dl.:ounr on child.'r':
tuition
, been's College w .- est.ia l.l - ,I [ I in
l t"Ib'; ThL- M.ethcir-. Church ld j. 1: i
member oflThe Intemat icnal AzociLation of
MethocJit school: C I i:e eLj.d ln,.er:,-
ties (IAIJSCU)


Application forms are available fTom t"e.i "% .. ni
our award winning website ww.chencefoh.q t. t appktion. together with a ernmg
letter, a statement of educational phiosophy8 anda ..ct. a must be sent to:

P.O.Bm xN 27
Nassa u, Baaas
Or faxed to: 242-393-3248, or emailed to dWiphqaitefoit.com tid should artive noar "d
January 31, 2008 Candidates short-listed wil be c rby tone, ror ama fora .


Irmmrirtfh tV i1 1


.el: (24-)393-F63-r5L3BM45 dusx (2i1393 c 4I
Aebiic: mww.qchuixtulLcom 0 ufltA _tsgqiweotthms


INVITATION FOR EXPRESSION OF INTEREST
COUNTRY: THE BAHAMAS / SECTOR: FINANCIAL / PROJECT:

DESIGNING AND IMPLEMENTING A STRATEGIC PLAN

FOR THE INTERNATIONAL FINANCIAL CENTRE OF THE BAHAMAS


OVERVIEW OF PROJECT

The Bahamas International Financial Centre (IFC) is
facing an increasingly competitive environment from
competitor jurisdictions and the variety of sophisticated
financial products that they offer to the market, and it also
must contend with a much more rigorous international
regulatory environment. In this context, the Bahamas
Financial Services Board (BFSB) is seeking technical
assistance in respect of a project to design and implement
a strategic plan for The Bahamas as an IFC through the
Multilateral Investment Fund (MIF). BFSB intends to use
a portion of the funds for consultancy services for each of
the four components of the project: (i) strategic planning,
(ii) regulatory compliance, (iii) trade agreements and, (iv)
manpower assessment.

OVERVIEW OF PROJECT COMPONENTS

(i) Strategic Planning The objective of this consultancy is
to assess international financial services business segments
and sectors to determine the potential for new services and
products in the Bahamas IFC and to develop a strategic
vision and action plan that guides and priorities actions to
grow the IFC. It is expected that the consulting firm will be
responsible for: (i) a benchmark assessment of regulatory
compliant products and services in competing IFCs; (ii) a
consultation process with public and private stakeholders;
and (iii) the development of a strategic plan that includes
the identification and prioritization of specific short-term
and medium-term courses of action for implementation.
This plan will incorporate the inputs provided by
separate consultancies in best practices in regulatory and
administrative policies for the financial services industry, and
a skill set inventory and certification program.

Throughout the undertaking of the assignment, the
consulting firm, if not based in Nassau, will be required
to travel to Nassau, Bahamas. The firm may also be
required to take trips to two (2) competing IFCs. These
trips will be defined early in the consultancy. It is expected
that the consultancy period will last for twenty-four (24)
months. Consultants submitting Expressions of Interest
should emphasize their (i) experience in strategic planning
and benchmarking for the financial industry; (ii) in-depth
knowledge of the international financial services industry;
(iii) experience in trade, regulation and compliance matters;
(iv) skill set development expertise; and (v) research skills in
comparative studies.


THE BAHAMAS FINANCIAL SERVICES BOARD
R 0. Box N-1764
Goodman's Bay Corporate Centre, First Floor
Nassau, Bahamas


(ii) Regulatory Compliance The objective of this
consultancy is to examine the application of best practices
in areas affecting financial services. Priority focus will
be given to a review and assessment of the approach to
implementing key regulatory and AML standards vis-a-vis
specifically selected IFCs and the promotion of dialogue
among stakeholders, including the regulatory agencies and
private sector.

Throughout the undertaking of the assignment, the
consulting firm, if not based in Nassau, will be required to
travel to Nassau, Bahamas.

The consultant may also be required to make trips to
selected competing IFCs. The consultancy is expected to
be completed over a nine (9) month period. Consultants
submitting Expressions of Interest should emphasize
their (i) experience in the field of international financial
services industry regulation; (ii) intimate knowledge of
the applicable regulatory and AML policies and rules; (iii)
practical experience in litigation and advising jurisdictions
on international policy; (iv) research skills in comparative
studies and (v) representation in the noted external
jurisdictions.

(iii) Trade Protocols Given the relevance of trade
agreements as instruments to promote the development and
implementation of sector best practices, priority focus will be
given to building capacity for the assessment of the impact
of trade agreements on financial services and negotiations
thereof. As such, the objective of this consultancy is to: (i)
conduct a cost-benefit analysis of trade agreements and
other international agreements as a means of expanding the
Bahamas IFC; (ii) to assist the IFC to develop strategies that
address policy and regulatory implications from this analysis;
and (iii) to establish a framework for IFS stakeholders input
into the negotiation process.

Throughout the undertaking of the assignment, the
consulting firm, if not based in Nassau, will be required to
travel to Nassau, Bahamas.

The consultancy period is expected to last for a period of
twelve (12) months. Consultants should emphasize their
(i) familiarity with the latest national and international
developments in trade agreements and other international
agreements particularly in the financial services arena; (ii)
practical experience in conducting cost-benefit analysis; and
(iii) research skills in comparative studies.


T: (242) 326-7001
F: (242) 326-7007
E: info@bfsb-bahamas.com
W: www.bfsb-bahamas.com


(iv) Manp,'wer Assessment This component seeks to
identify IFC skill gaps, to develop training capacity, to create
a "brand" for Bahamian professionals' financial skills and to
continuously monitor trends and developments in IFC skills.
As such, the objective of this consultancy is to conduct
a manpower assessment to identify skills gaps within
the financial services sector, and to design and develop a
certification program and curricula to address needs in the
identified focus areas.

Throughout the undertaking of the assignment, the
consulting firm, if not based in Nassau, will be required
to travel to Nassau, Bahamas. The expected consultancy
period is sixteen (16) months. Consultants should
emphasize their (i) experience in manpower assessment and
(ii) research skills in comparative studies.

NOTE: In addition to the aforementioned ex[ ience
which consultants should highlight for each c:- ponent,
consultants submitting their Expressions of Inte est should
also emphasize their (i) general consulting expe. ience; (ii),.
relevant international expertise and in-depth knowledge of
the international financial services industry; and (iii) recent
experience in advising jurisdictions and/or international
financial service firms.

REQUIREMENTS FOR SUBMISSION

BFSB now invites eligible consultants to submit their
Expression of Interest, for any one or more of the
components. Consultants with interest in more than one
component are required to submit separate Expressions of
Interest. The Expressions of Interest should be no more than
(10) pages in letter form, indicating their qualification and
experience to satisfactorily complete the noted engagement.

The Expression of Interest should be sent in an electronic
file to the e-mail address below by January 11th 2008, at
1500 hours (EST).

The Expressions of Interest will be evaluated based on the
qualifications and relevant experience of the firm and the
results will be used to prepare a short list of no more than
six consulting firms. The short listed firms will be invited to
submit their technical and financial proposals, at which time
the respective Terms of Reference will be provided.

Interested consultants may obtain further information at the
address below during office hours (0900 to 1700 EST).


JN BAHAMAS
FINANCIAL
SERVICES BOARD


L .


HOLIDAY SEASON HOURS







wlcls th evn ing ofl:
Frida,*21t Deembe, 207 *n

re-ope Wednsday,2nd Jnuary 2008


-- I


,


-I rbi


FRIDAY, DECEMBER 21, 2007, PAGE 7B


6.& .-I


THE TRIBUNE


11







PAGE 8B, FRIDAY, DECEMBER 21, 2007


THE TRIBUiNE


Extra capital needed to boost Freeport Concrete's $2m-plus turnaround


FROM page one

to Freeport Concrete share-
holders to maintain the propor-
tion of shares they held in the
company, but to ensure its suc-
cess it would probably have to be
underwritten by the largest
shareholder, chairman Hannes
Babak, who holds 43 per cent of
the stock.
"That's where we would like
to go next reduce the bank debt
and get more capital," Mr Simp-
son said. "The capital would be
going to the right place; into
inventory.
"We may look at doing some
kind of rights issue or move into


the markets where we are not
paying interest. [But] I don't
know whether we can do that
yet, because maybe we've got to
come through with some more
quarterly profits."
For the financial statements
for the year to August 31, 2007,
Freeport Concrete's auditors,
KPMG, while not qualifying
their opinion, noted that the
company's current liabilities
exceeded current assets by
$1.532 million.
In addition, they noted that at
the balance sheet date, Freeport
Concrete was "not in compli-
ance with various debt covenants
in connection with the bank
overdraft and bank loan facili-


LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138 (4)
of the International Business Companies Act, (No.45 of 2000),
SUNLIGHT ASSETS LIMITED is in dissolution.
Alrena Moxey is the Liquidator and can be contacted at Marl-
borough & Queen Streets, Nassau, The Bahamas. All persons
having,claims against the above-named company are required
to send their names, addresses and particulars of their debts
or claims to the Liquidator before 27th of December, 2007.







LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138 (4)
of the International Business Companies Act, (No.45 of 2000),
LAPPELTON LIMITED is in dissolution. Mrs. Alrena Moxey
is the Liquidator and may be contacted at Winterbotham Place,
Marlborough & Queen Streets, Nassau, The Bahamas. All
persons having claims against the above-named company are
required to send their names, addresses and particulars of their
debts or claims to the Liquidator before 27th of December, 2007.




LIQUIATOR



Royal Island (Bahamas) Limited

INVITATION FOR EMPLOYMENT

Royal Island (Bahamas) Limited, the developers of the
Royal Island resort and residential project at North Eleuthera
invites suitably qualified individuals to apply for the
following positions with the company:

Spa Manager
Must have at least 5 years experience in all aspects of
spa therapies.
Experience with and knowledge of local spa and beauty
products.
A commitment to service at the highest level.

Yoga Instructor/Fitness Club Instructor
Must have experience in fitness club industry.
Qualified yoga instructor.
Experience in the tourism field a plus.

Sous Chef
Must be able to prepare 5 star French cuisines in an
island atmosphere.
Must have experience in a 4 or 5 star small boutique
restaurant environment.
Commitment to service at highest level

A la Carte Waiter
Must have at least 5 years experience as a waiter in a
fine dining atmosphere or highly regarded restaurant
Knowledge of French inspired cuisine a plus.
Commitment to service at highest level.

Bartender
Must have 5 years experience in a 4 or 5 star hotel or
cocktail bar.
Must have extensive knowledge of cocktails and wine
varieties.
Experience in dealing with high level clientele.
All positions require successful applicants to reside at
North 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 under consideration will
be contacted.


ties, primarily relating to certain
financial ratios and exceeding
capital expenditure limits".
The total amount of the bank
overdraft and loan, which is
owed to FirstCaribbean Inter-
national Bank (Bahamas), stood
at $1.983 million. KPMG said:
"The company has not received
written confirmation from its
bankers that they will agree to
tolerate the breaches of debt
covenants, and therefore an
uncertainty exists as to what
action the company's bankers
will take, if any."
However, Freeport Concrete
prepared its accounts as if the
company was a going concern
due to the improved financial
performance and fiscal 2008 pro-
jections that "indicate profitable
operating results and improved
cash flows", driven by improved
inventory management, cost
controls, and gross profit mar-
gins.
In addition, Freeport Con-
crete had met its debt obliga-
tions throughout fiscal 2007,
making all loan payments on
schedule, and it had won its
Supreme Court verdict against
Bahamas Customs, meaning it
did not have to pay that govern-
ment department $738,644.
Acknowledging that he under-
stood FirstCaribbean's position,
Mr Simpson said: "The bank
right now is OK. They have said
they want to see how we go for-


ward in the next six months, but
right now the bank has no prob-
lem with us."
Adding that Freeport Con-
crete had paid down some
$180,000 in long-term debt, Mr
Simpson said FirstCaribbean was
"in a much better position" post-
fiscal 2007 than it had been the
previous year, but it wanted the
company to show consistent
profitability before advancing
any funds to it.
That, though, would not help
Freeport Concrete's Home Cen-
tre at a time when it needed to
replenish its inventory, as con-
tractor demand slowed down
over the Christmas period for
the festive season break.
"Right now, we could increase
our sales in the Home Centre if
we had more inventory coming
in. As fast as building materials
come in, they move. Our inven-
tory turnover is fantastic," Mr
Simpson said. "We know the
sales are there; we just need the
inventory in there."
He estimated that just an addi-
tional $400,000-$500,000 in
working capital was required for
inventory purchases to "take us
to the next level".
Yet without more bank
financing, the Home Centre was
restricted to cash flow for inven-
tory replenishment, so it was
running out of product lines at
times.
"This is our challenge over the


LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138 (4)
of the International Business Companies Act, (No.45 of 2000),
CROME HOLDINGS LIMITED is in dissolution. Mrs.
Alrena Moxey is the Liquidator and can be contacted at
Winterbotham Place, Marlborough & Queen Streets, Nas-
sau, The Bahamas. All persons having claims against
the above-named company are required to send their
names, addresses and particulars of their debts or claims
to the Liquidator before llth day of January, 2008.



UQUIBITOK





NOTICE


The Chambers of

CEDRIC L. PARKER & CO.

Counsel & Attorneys-at-law
#9 Rusty Bethel Drive
Nassau, Bahamas
Will Be

CLOSED
For the Holidays
from Monday, the 24th December, 2007
re-opening on Thursday, 3rd January, 2008





NOTICE


PUBLIC WORKERS'

CO-OPERATIVE CREDIT

UNION LIMITED

WILL CLOSE ON: DECEMBER 24, 2007 AT
1:00 P.M.

AND

RE-OPEN ON: JANUARY 2ND, 2008 AT
9:00 A.M.


next several months," Mr Simp-
son said of the inventory situa-
tion, although Freeport Concrete
was receiving better terms and
credit lines from suppliers due
to the improved financial per-
formance.
Helping this is the accounts
payable situation, which dropped
from $3.735 million at year-end
2006 to $3.109 million at year-
end 2007.
"To take it to the next level,
we need a little more invento-
ry," Mr Simpson said. "We
would really be crunching up the
profits. That's our only draw-
back right now."
Mr Simpson pointed out that
current liabilities exceeded cur-
rent assets due largely to the


inclusion of a $1.648 million
bank overdraft in the liabilities
section.
"That could be converted into
long-term debt if we wanted,"
he explained, "but I'm getting
favourable rates on the overdraft
right now.
"We've never missed a loan
payment, and all interest on the
overdraft is being paid, and
we're not exceeding the over-
draft limit. We've maintained
sales levels, but if we had more
working capital we could con-
vert it to inventory and boost
sales even more.
"Really, now is the time for
me to get a little more money
going into the right place, inven-
tory."


< 9.



SThe d'Albenas Agency Ltd.


SHoliday Working Hours.


Open Friday, December 21, 7:30am to 4:30pm
Closed Monday, December 24, Christmas Eve.
Closed Tuedsday, December 25, Christmas Day
Closed Wednesday, December 26, Boxing Day
S We will re-open on Thursday, December 27
Closed Monday, December 31, 2007
Closed Tuesday, January 1, New Year's Day
Re-open Wednesday, January 2, 2008



o Merry Christmas o


S& A Happy New Year





* The d'Albenas Agency Ltd


~I~a~Ja~n4 ee~&h17J


--..i


CVA/7


x^w.ay







THE TRIBUNE


FRIDAY, DECEMBER 21, 2007, PAGE 9B


Bahamas broker denies SEC 'fraud' allegations


FROM page one

ties (Bahamas), told The Tri-
bune yesterday: "The SEC filed
civil charges against LOM on
December 19. We look for-
ward to our opportunity to
appear in court and vigorously
defend ourselves against these
unfounded allegations regard-
ing transactions which continue
to be misrepresented by the
SEC."
He added that it was a civil
lawsuit, not a criminal one, and
the SEC complaint "does not
seek relief that would compro-
mise security of customer
assets".
Mr Lines, who was not
named in the lawsuit, said there
"will be no affect on the
Bahamas operations" from the
SEC lawsuit. LOM Securities
(Bahamas) and its three staff
had relocated from Freeport,
where it had been based since
2000, to the British Colonial
Hilton's Centre of Commerce
at No.1 Bay Street on Novem-
ber 1, 2007.
LOM Securities (Bahamas)
has some $250-$300 million in
client assets under manage-
ment, around 25 per cent of the
entire group's $1.2 billion in
client assets.


The Tribune understands
that the Securities Commission
of the Bahamas provided doc-
uments to assist the SEC inves-
tigation via the regulatory co-
operation channels that have
been established with overseas
regulators.
The Securities Commission
is understood to be keeping an
eye on how the SEC lawsuit
progresses, and will wait to see
what developments occur
before contemplating any
action against LOM Securities
(Bahamas).
The SEC is seeking court
orders to prevent LOM Secu-
rities (Bahamas) and the other
defendants from engaging in
similar activities in future, and
to prevent them from partici-
pating in penny stock offerings.
Malcolm Moseley, LOM
(Holdings) chief executive,
added in a statement: "The
complaint filed by the SEC pre-
sents a disturbingly distorted
portrayal of a bona fide financ-
ing transaction in which LOM
participated nearly five years
ago.
"We are deeply frustrated by
the SEC's action today, and
look forward to having an
opportunity, after nearly five
years of investigation, to chal-


PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that I, TOTICNA
JENABAH YOUNG of the Eastern District of
the Island of New Providence, Bahamas have
legally change my name to TOTICNA JENABAH
KNOWLES. The Deed Poll has been duly
recorded at the Registrar General's Office.




Legal Notice
NOTICE

NOTICE IS HEREBY GIVEN as follows.

(a) MARBELOUS LIMITED is in dissolution under the
provisions of the International Business Companies Act 2000.

(b) The Dissolution of said Company commenced on December 20. 2007
when its Articles of Dissolution were submitted and registered by
the Registrar General.

(c) The liquidator of the said company is Lakeisha Collie of 2nd Terrace
West, Centreville, Nassau, Bahamas.

(d) All persons having Claims against the above-named Company are
required on or before the 31st day of January, 2008 to send their
names and addresses and particulars of their debts or claims to the
Liquidator of the company or, in default thereof, they may be
excluded from the benefit of any distribution made before such
debts are proved.
December 21,2007

LAKEISHA COLLIE

LIQUIDATOR OF THE ABOVE-NAMED COMPANY




Legal Notice
NOTICE


SUN-E ENTERPRISES LIMITED

NOTICE IS HEREBY GIVEN as follows:

(a) SUN-E ENTERPRISES LIMITED is in voluntary
dissolution under the provisions of Section 137(4)
of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on
the 18th December, 2007 when the Articles of
Dissolution were submitted to and registered by the
Registrar General.

(c) The Liquidator of the said company is Michael Low
of c/o 1 Raffles Link #05-02, Singapore 039393


Dated this 21st day of December, A.D. 2007


Mr. Michael Low
Liquidator




Legal Notice
NOTICE

LEVIT INTERNATIONAL LIMITED

NOTICE IS HEREBY GIVEN as follows:

(a) LEVIT INTERNATIONAL LIMITED is in voluntary
dissolution under the provision of Section 137(4)
of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on
the 18th December, 2007 when the Articles of
Dissolution were submitted to and registered by the
Registrar General.

(c) The Liquidator of the said company is Credit Suisse
Trust Limited, Rue de Lausane 17 bis, Geneva.

Dated this 20th day of December, A.D. 2007



Credit Suisse Trust Limited
Liquidator


lenge the SEC's allegations and
demonstrate that LOM and its
agents operated at all times in
the best interests of our clients.
LOM welcomes the opportu-
nity at long last to be able to
present its side of the story in
an adversary proceeding before
a neutral judge."
LOM added that the Bermu-
da Monetary Authority
(BMA) had investigated the
conduct described in the SEC's
complaint, and concluded its
investigation in 2005. As a
result, LOM agreed to make
managerial changes; improve
its internal controls, and com-
mitted to further enhance its
compliance regime and man-
agement structure.
"The SEC's allegations relate
to LOM's bona fide efforts to
arrange financing for the acqui-
sition and operation of several
mining properties in Canada
and Central America in Feb-
tuary 2003," said Mr Moseley.
"LOM does not expect that
the filing of these charges will
have any bearing on our oper-
ations, our clients, or the via-
bility of the firm.
"Today's charges reflect the
SEC's fundamental misunder-
standing of the transactions at
issue. After the SEC suspend-
ed trading of Sedona stock.
these same mining assets were


acquired by viinrous C'anadialn
public compiln which sueC
cesslully operalcd I hem. The
SEC'("s allegations relaling lo
trading in SI IlIP lechnologisc
likewise concci n I.OM N s legili
mate business dealings."
LOM yesterday alleged that
the SEC investigation and
charges weie p)arl tol 'a long
standing pattern of harass-
ment" against it by the US reg
ulators
"It is unthinkable that thi
SEC would evci tieat a USN
based broker-dealer the wia,
that it has treated LOM. The
SEC has targeted LOM despite
our efforts to uphold the high
est standards ot responsible
corporate citizenship and comn
pliance," said Mr Moseley.
"LOM welcomes the opportu-
nity to clear its name and Ih
defend itself against the SEC'"s
uninerihorious claims i"
In the Sedona episode, Ih I
SEC alleged thai a C anadiai,
stock proniotei. Anthony Wile,
issued misleading press release
es and other materials to the
market to create the false
impression that Renaissalnc-
Mining Corporation, his pri
vate firm, had acquired ('en-
tral American gold mines and
was a gold producer
The US regulator alleged
that as part of the scheme, Bri-


Legal Nouce
NOTICE

NOTICE IS HEREBY GIVEN as flollovs

(a) TITI TRADING LIMITED is in dissolution under the
provisions of the International Business omipanics Act 201111

(b) The Dissolution of said Company commenced on December 20. 2007
when its Articles of Dissolution were submitted and regi.crcd bh
the Registrar General

(c) The liquidator of the said company is Lakeisha t ollic of1 2nid Itlt tia
West, Centreville. Nassau, Bahamas

(d) All persons having Claims against the ab%< e-namied otnpaniiy airc
required on or before the 31st day of Januarn. 2008 to send then
names and addresses and particulars of their debts or cliums to the
Liquidator of the company or, in default thereof. thec iinm. bc
excluded from the benefit of any distribution iniadc bhelot, such
debts are proved
December 21, 200)7

LAKEISHA COLLIE

LIQUIDATOR OFTHE ABOVE E-NA.MED COMPANY



Legal Notice


NOTICE


GRANDFATHER BOND FUND ITD.

IN \UI.lNTARY LIQt ll)A'l'N

Notice is hereby given that in accordance with section 137 ol tlil'
International Business Companies Act 2000 GRANDFATHER
BOND FUND LTD. is in dissolution

The Date of the Commencement of dissolution was 19th 1 )ecember
2007. David Thamn of Arner Bank & Trust (Bahamas) [.id Building
2 Caves Village, PO Box N-3917 is the Liquidator of GRANDFA-
THER BOND FUND LTD. All persons having claims against the
above-named company are required to send theii address and paniico
lars of their debts to the Liquidator before the 19th .lanualv 2008

/'

.7dio


an and Scott Lines had
acquired 99 per cenl of'
Sedona's stock through "otT-
sholc 'nominees" Ito conceal
their identity. tlhe plan being to
inerge Sedon.i with Renais
sancle
Wile and a fellow defendant
Robert Chapman. then alleged
ly 'primed' lthe market to con-
vince nvesiois the merger with
Sedona and gold-mine acqui-
sition had already taken place.
'1 hey, and the Lines brothers.
then allegedly sold Sedona
snares at the artificially inflated
price, netting $1.5 million in
profits
In relation to the Sedona
scheme, the SEC alleged that
some 1.095 million of the 5.34
million Sedona shares the Lines
brothers acquired were credit-
ed to ;i LOM Securities
(1Ba hamas) account called
Laigo light Ltd or Largo
Bahamas, an entity they con-
trolled
The lawsuit further alleged
that to conceal the Sedona
scheme alter the SEC sus-
pended trading in the shares,
Scott and Brian Lines instruct-
ed LOM employees to really
cate the stock held in Largo-
Bahamas accounts to other
accounts
"The account statements for
the Lines' brothers ICH and


Largo-Bahamas accounts were
similarly altered to remove evi-
dence that they had received
certain Sedona shares," the
SEC claimed.
In addition, Chapman
allegedly owned 370,000 shares
in Renaissance, but concealed
this by placing them in the
name of a Bahamian entity,
called Marathon Industrial
Fund.
Meanwhile, on the SHEP
side, the SEC alleged that Bri-
an and Scott Lines teamed up
with two Canadians, William
Peever and Phillip Curtis, to
obtain control of a public shell
company, merge it with a pri-
vate entity, tout its stock, and
then benefit from inflating the
price. Peever and Curtis used
nominee companies to acquire
83 per cent of Inside Holdings
(IHI) and conceal their identi-
ties.
By January 23, 2002, the IHI
sellers delivered some 5.6 mil-
lion shares to LOM, whidh
were credited allegedly to twio
accounts in equal amounts: -
Golden Accumulator and
Nomad Trading.
The N-omad account wds
transferred from Cayman to
LOM (Bahamas) in November
2002. The account was used by
Peever and Curtis to trade ICI
and SHEP shares.


Legal Notice
NOTICE


MADISON VENTURES LIMITED

N'(I 1( E I[ HEREHY GIVEN as follows

(a) MADISON VENTURES LIMITED is in voluntary
dissolution under the provisions of Section 137(4)
of the International Business Companies Act 2000

(N Thit' dissolution of the said company commenced on
the 18th December, 2007 when the Articles of
l)issolution weic submitted to and registered by the
Registrari General

(c) The Liquidator of the said company is Verduro
Associated Ltd., Pasea Estate, Road Town, Tortola,
B\ I

I )ated this 20th da\ of December, A.D. 2007


Verduro Associated Ltd.
Liquidator





Legal Notice

Pursuant to the provisions of Section 137 (4) of The
International Business Companies Act, 2000. Notice is
hereby given that:-

(a) OPTMIX ALTERNATIVE INVESTMENT FUND
LTD. is in dissolution:

(b) the date of commencement of the dissolution is
April 18, 2007,

(c) the name of the liquidator is Maria M. Ferere of
One Montague Place, Second Floor, East Bay Street,
PO. Box N-3932, Nassau, Bahamas

Dated this 2nd day of May A.D. 2007

Maria M. Ferere
Liquidator


Pricing Information As Of: C F A L"*
Thursday, 20 December 200 7C FA L
. B.i"" BISXUSTED & TRADED SECURITIES VISIT WWW BISXBAHAfIAS COM FOR MORE DATA & INFORMATION
,.t BISX ALL SHARE INDEX CLOSE 2 062 56 1 CHG 2 45 /1 -CHG 0 12 / YTD 386.37 I YTD % 23.05
52wk-Hi 52wk-Low Securit y PIevwIis CIGlos Today's (culos Clhianr. Daily Vol EPS $ Div $ P/E Yield
1.66 0.54 Abaco Markets 1 () 1.5 0 00 1,000 0.15' 0000 9.9 000%
11.74 11.00 Bahamas Property Fund I : I 1.r, 0 0 1.o50 0.400 7.8 3.43%
9.60 8.03 Bank of Bahamas 90 9.ti 0 01( 2.000 0.733 0.260 13.1 2 71%
0.85 0.70 Benchmark 0.l!, 0 11(, 0. 00 0.188 0.020 4 5 2.35%
3.74 1.75 Bahamas Waste 3 ,( 3 oI, 0110 0.2891 0090 127 2.46%N,
2.70 -1.22 Fidelity Bank 2,G', 21.', I0 00 0 058 0.040 45 / 1.51%
12.05 9.99 Cable Bahamas 12 0!, 2I h 100 900 1.03) 0 240 11 7 1.99%
3.15 1.90 Colina Holdings :1 b I 1I n) 0031 0040 101 G3 1.27%
8.35 4.17 Comnmonweallh Bank (S) I 8 .111 01 1,000 0.426 0.20(; 19 4 3 14%I
7.22 4.74 Consoliditted Water BDI 0 1 t i ) .05 0.129 0 O 0 470o 0 82'.,
2.60 2.20 Doctor's Hospital .' 2 .' 0), I 1,000 0 31i6 0.020 7 4 0 85",;
7.05 5.70 Famguard i / 0 0 7131 0 280 9 9i 3.97%'
12.90 12.02 Finco 12 12 9 0 till 00) .829 0 570 15 5 4.144%,
14.75 14.15 FirstCaribbean I.)I !', 1,0 1 Ol 0 9141 0470 159 3 24%
1.00 0.54 Freeport Concrete 0 ti' 0 4 1 0.000 N/M 0.00,
8.00 7.10 ICD Utilities / .", / 2 I t 0 4 I 1 0.300 17 6 4 14%1
11.00 8.60 J. S. Johnson I 1 I 1 ), 0100o 0 991 0.590 11.1 5.36%"
10.00 10.00 Premier Real Estate 10 00 1(11 1 1)000 1 1 / 0.600 8 6 6.00%
.," ,: Fidelity Over-The-Counter Securities
52wk-Hi 52wk-Low Symbol Bid $ Ask $ Last Pince Weekly Vol EPS $ Div $ P/E Yield
14.60 14.25 Bahamas Supermarkets 14.t60 15 00 16.00 1 1 160 1.185 13 4 8.12%,
8.00 6.00 Caribbean Crossings (Prel) G 00G) 0 25 6 0ll 0.000 0.480 NM 7.80".,
0.54 0.20 RND Holdings 0.13) 0 40 0 20 -0.030 0.000 N/M 0 00%
,i.'r, . Collna Over-The-Counter Securities
41.00 41.00 ABDAB I1 00 43,00 1 00 4.450 2750 90 6.70%
14.60 14.00 Bahamas Supermarkets 14 G0 I5 60 14 )00 1 160 1 125 13.4 7.71%
0.55 0.40 RND Holdings 0.,. 0 1 !', -0.030 0.000 N/MI 0.00%
5;2S;wk", s .'Z"w .., F a BISX Listed Mutual Funds
52wk-Hi 52wk-Low Fund Name NA V\ Y1D'I", Last 12 Mntlihs Div $ Yield %
1.3679 1.2983 Colina Money Market Fund I 367l8l',
3.5388 2.9728 Fidelity Bahamas G & I Fund 3,1"88'
2.9902 2.4723 Colihna MSI Preferred -Fund 2 '1902 11t
1.2827 1.2037 Colina Bond FIund 1 2812th,"
11.8192 11.3075 Fidelity Primo Income Find I 1 8) 191)"
.; '!.;.% FINDEX: CLOSE 938.26 / YTP 26.43% / 2006 34,47%
BISX ALL SHARE INDEX 19 Doi t? 1. 000 00 MAIIIl h I I M 1 1,ItI .', I .1 ll ,li il, -l,. ,, i *,l,*, '.1. 1 n I I NAVy N
52wk-H i Highe t closIn pil. In hI.t!,J w-I ,0, h
52wk-Low lowest closing prll' la In last 1 2 ,,,\ l .'l'I.
Pr"MvIout clos P, v- ous day'l wolhh ,ind p (I,, 1 1 1o .1
Today's .Clo UUnll f di y' wolgqhtd p-"II hir Ittlly vut.,
Change Chango in close ing price froml day to d.ly I ':,. A-. ,\.lI,ln ,' n I ,, ,IIllII il i.,h 1o .ln O l ti h It. ;,, II JIll 2001",
Dally Vol. Nunbor of totall shares traded today NAV Nt, A-,-, V.ilIt,
DIV $ Dividends per shore pnid In the Irnst 12 months N/Mt Nt M i,, ,,n,,ilI
P/E Closing price divided by the last 12 mon th i I inI I INi I NIN I It.1I IIIl,,>I l>. I .l S I.. I d,,l. .nimi, I I 'll i1011
(S) 4-for-1 Stock Split Effective Daltu 8/8/2U0/
Sl) 3-for-1 Stock Split Effective Date 7/11/2007
' "." :CA',ALLr COLINA 242-502-7010 / FIDELITY 242-36-?7764 I FOR MORE DATA & INFORMATION QALL (242) 394-2503


I BUSINESS


m









PAGCE 10 B, FRIiDAY, DECEMBER 21, 2007


THE TRIBUNE


COISPG


STOUne Comics

11. PARKER



N TO


Dennis )( Calvin & Hobbes


Heyl You took my
favorHe Swirt


TWAT'S TRUE, MOE.
YOW A43uT TH4T?


;'PARTMENT 3-G


EVERYTHI-NG YOU
TO KNOW 16 IN TlH
I'VEDECIDED TO
HELP YOU,'ERIC.


'"%fACHER,,ou IE.LL'Y KNOW
MAKE MAY PAP FEEL GUllTY."


BLONDIE


SOME PEOPLE
HAVE NO BUSINESS
BEIN6 PARENTS/


SsEQ UIITUR


An Unusual Defensive Play


South dealer.
Both sides vulnerable.
NORTH
+K754
VKJ93
+63
+Q 102


WEST EAST
*J9 4A62
V742 V1085
*QJ1074 *K85
+K84 49763
SOUTH
*Q 1083
TAQ6
*A92
*AJ5
The bidding:
South West North East
1 NT Pass 2 4 Pass
2 4 Pass 4
Opening lead queen of diamonds.
There are plays a defender can
make that clearly run against the
grain and yet are indubitably correct.
For example, consider this deal
where South arrived at four spades
after a Stayman inquiry by North..
Declarer won the opening diamond
lead with the ace and played a low
spade to the king, on which West
produced the nine and East the
deuce!
When the king held, South natu-


rally concluded that West had the
ace. So when he next led another
trump from dummy and East fol-
lowed low, declarer finessed the ten,
hoping West had started with A-9
doubleton. But West won the trick
with the jack, and South finished
down one, losing two trump tricks, a
diamond and a club.
East's play of the deuce of spades
on the king was, of course, unusual,
but it was well-conceived. He real-
ized that West might have the J-9
doubleton, in which case the
defense's best chance of scoring two
trump tricks was to allow the king of
spades to win the trick.
Now let's consider what might
have happened had East taken the
king of spades with the ace. He
wo':ld have cashed the king of dia-
monds and shifted to a club. Declarer
would no doubt finesse, losing to the
king, win the probable club return in
dummy and lead a trump, East fol-
lowing low.
There is no' way of knowing
whether South would finesse and go
down one, or whether he would go
up with the queen and make the con-
tract But there is no question that
East's duck of the king of spades"
gave his side a much better chance to
defeat the contract


I TARGET


.0CSS
1 Vehicles sawn to pieces in one go!l
(6)
7 Alternatively cut out spirits? (8)
3 Keep moving, pet (4)
10 A bloomer to make a fathead scowl?
(G)
11 Could it have a sharp outline on the
map of the diocese? (6)
I1' Fred may follow him to make a
name (3)
16 Drinks can make you so sadl (5)
17 Spot a key agent (4)
IS Station's department containing
nothing (5)
21 iobleman from Bolton? (5)
22 Chubby form of dog used in physical
education (5)
?3 Some bus tickets may be statistically
numbered (4)
Sl);,mon, the wanderer returned (5)
7' Arlich used in seafaring (3)
?' Noted duets, possibly, as piano
pieces (6)
SLocks good when worn: but no
good in a bundle (6)
it dgj:r margin? (4)
.; e stagily made to be enthralling?
(8)
runny aces around the tourist
cu(.ntr (6)


Yestf Iay's cryptic solutions
IACROi,: 1, Shots 6, Tar-ry 9, Work out 10, Gave-L 11, Ton-NE
P, l .',-rn 13, Heavies 15, Col(-d) 17, Once 18, Become 19,
0r. '/, 'hove-L 22, Beta 24, Ear 25, Literai 26, Stein
27, 28, 1i2 i-N-ts 29, Ring out 30, Dalek 31,
ivioo-dy
0N: 1 2, li-E-aven 3, Twelve' 12) 4, Sol 5, Ski-e-s 6, Tu-t-
ord 7/, A forn 8, Ransom 12, Betel 13, H-Ouse 14, Actor 15,
Cowm r 16, L-e.g.-al 18, Brain 19, Beatnik 21, Havana 22,
Buihio 23, T-asted 25, L-in-go 26, Sure 28, Hum


N


T

01


D


A


E


IT


The
oTarnt
words in
the main
body of
Cbmbem
21st
Century
Dictionay
(1999
edltiU)l.


SHOW many words of four letters
J- or more can you make from the
ts letters shown here? In maldng
a word, each letter may be used
once only. Each must contain
the centre letter and there must
be at least one nine-letter word.
No plurals.
...*. .TODAY'S TARGET
Good 18; very good 27; excellent
.=.36 (or more). Solution tomorrow.


CRYPTIC PUZZLE 1 2=-4l


DOWN
1 Vague talk of something to eat (6)
2 To anybody on the road, It's unidi-
rectional (6)
3 Prophet disheartening the seafarer?
(4)
4 Trouble starter with a motive for
crime (7)
5 The very formal outfit I had (5)
6 Dodgy drink brewed in
Smethwick (5)
8 Stately office for a politician (4)
9 His awakening heart is only nominal
(3)
12 The centre of a rising storm is
always bad (3)
13 Sporting contributions to clean
sheets (5)
15 It's only marginal (5)
18 Emit stupid tosh about love (5)
19 Pop up undisturbed (3)
20 Try him for poetry (3)
21 Goes bad, perhaps, in perfectly good
shops (7)
22 On which to write notes home (3)
23 Strike gold somewhere in Wales (6)
24 Desire to sample the courgettes? (4)
25 Especially nice tarts made around
Mile End (6)
26 Emphatically don't put a northern
woman right! (5)
27 Necessarily stale? (5)
28 A fading fashion? (3)
30 Like grouse, you can eat it (4)


K -i


UJ



Yesterday's easy solutions
ACROSS: 1, Basra 6, Force 9, Elbowed 10, Slave 11, Relax 12,
Darts 13, Created 15, Tea 17, Real 18, Almond 19, Stale 20,
Manias 22, Help 24, Bus 25, Cabaret 26, Super
27, Depot 28, State 29, Red tape 30, Asked 31,
Angry
DOWN: 2, Allure 3, Reveal 4, Ale 5, Nomad 6, Fertile 7,
Odes 8, Craven 12, Dents 13, Crumb 14, Earns 15, Tower 16,
Adept 18, Altar 19, Saluted 21, Augers 22, Hasten 23, Letter
25, Cents 26, Sore 28. Spa


ACROSS
1 Native American (6)
7 Wine bottle (8)
8 Gap (4)
10 Cropped up (6)
11 Position (6)
14 Colour
16 Senior (5)
17 M East port (4)
19 Drying cloth (
21 Mountain
ash (5)
22 Mature (5)
23 Woodland (4)
26 European capital (5)
28 Wicked (3)
' Pass (6)
3u Angry speech (6)
31 Dutch cheese (4)
32 Clergyman (8)
33 More profound (6)


UUWN
1 Fleet (6)
2 Elected (6)
3 Paradise (4)
4 Food hall (7)
5 Bear (5)
6 Command (5)
8 Rent (4)
9 Guided (3)
12 Everything (3)
13 Evergreen tree (5)
15 Oarsman (5)
18 Transfer (5)
19 Summit (3)
020 Pale (3)
21 Savoury snack (7)
22 Tear(3)
23 Procession (6)
24 First man (4)
25 Warden (6)
26 Pennies (5)
27 Navigation aid (5)
28 Offer (3)
30 Incline (4)


FRIDAY,
DEC 21

ARIES Mar 21/Apr 20
It's difficult letting your softer, com-
passionate side show, Aries, but there
are times when it is a must. Get
involved with a conflict that arises and
you'll be the hero.
TAURUS Apr 21/May 21
You'll find that it is easy to apply
yourself this week, Taurus. It's the
perfect time to work on something
that is important to you. Sagittarius
lends a hand.
GEMINI May 22/Jun 21
Be thankful for all that works in your
favor this week, Gemini. There are
others who'are not as fortunate as you.
Share the wealth with someone needy
and you'll be rewarded.
CANCER Jun 22/Jul 22
It's time that others took you seri-
ously, Cancer. Just because you are
generally easy going doesn't mean
others should take advantage of your
good nature.
LEO Jul 23/Aug 23
Don't let your emotions cloud your
senses, Leo. This week you have to
be extra firm to get what you want.
Otherwise, others might-see a sign of
weakness and move in.
VIRGO Aug 24/Sep 22
Don't give up on something just
because it doesn't come easily to
you, Virgo. You're no quitter. The
sky will clear soon, and it will be
clear sailing.
LIBRA Sep 23/Oct 23,
There comes a time when you must
be selfish, Libra. When it comes to
your happiness and well being, put
your needs ahead of everyone else's.
Don't feel guilty about it.
SCORPIO Oct 24/Nov 22
Although you may not want to admit
it, Scorpio, not all relationships are
worth saving. It may be time to end
communication with someone who
has been slipping away.
SAGITTARIUS Nov 23/Dec 21
You may feel like a homebody
this week, Sagittarius, preferring
to hang out by your lonesome.
Everyone needs a little "me" time
on occasion. Catch up on yours.
CAPRICORN Dec 22/Jan 20
You may have to put some plans on
hold, Capricorn. The finances just
aren't there to follow through. Keep a
positive attitude, though. It will work
out in the end.
AQUARIUS Jan 21/Feb 18
There is no one out to get you,
Aquarius, but sometimes it can feel
that way. Luck just isn't in your
cards this week. Hunker down and
ride the wave.
PISCES Feb 19/Mar 20
There are only so many hours in the
day, Pisces, and you must set aside
one for self-reflection. You've been
neglecting yourself change that.


OI CHESbLe.Onardarde


Mapus Carisenv Ivan Chepapino~,
Wold Cup 2005. Carseno 5
finished 10th In a manmnoth field of
128 players and became the
youngest world-title candidate,
breaking Bobby Fisdcer record
set In 958.TheNorwegian
schoomlboy actually had several
setbacks en mute, Including
today pude. Material Is level, but
White (to move) Is under serious
pressure from Mack's active pieces
and the passed c3 pawn. A
consolidation move is needed, and
Carisen narrowed his choice to (a)
1 Be4 planning Bxd5 and Qxc3 and
(b) 1 Rf2 guarding the second rank.
Carlsen got It Wrong, and soon had
to resign. Can you do better?


CHESS


LINAMD BA I


SOLUTIONS


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FRIDAY, DECEMBER 21, 2007, PAGE 11B


Stocks mostly fall after



economic reports point



to slowing economy



Oracle results lift Nasdaq


* NEW YORK
Associated Press
STOCKS were mainly low-
er Thursday as downbeat eco-
nomic reports added to
investor concerns. But a
strong earnings report from
Oracle helped buoy some
technology issues.
In a midday report, the
Philadelphia Federal Reserve
said its index of regional busi-
ness conditions showed a
reading of a negative 5.7,
down. sharply from a positive
8.2 in November.
Further weighing on
investors, a gauge of future
business activity fell last
month to its lowest level in
more than two years. The
Conference Board said its
index of leading indicators,
which looks three to six
months ahead, dropped 0.4
percent in November. The
reading suggests the economy
could weaken this winter and
possibly into the spring amid
rising costs and continued
troubles in the housing sector.
Corporate results offered
investors a mixed picture.
Oracle Corp. said late
Wednesday that its profit in
the most recent quarter
jumped 35 percent well


above the increase analysts'
had expected amid higher
sales of licenses for new prod-
ucts.
But Bear Stearns Cos. on
Thursday reported its first-
ever quarterly loss. Still, it did-
n't confirm investors' worst
fears about the scope of trou-
bles in the financial sector.
The report from Bear
Stearns came a day after Mor-
gan Stanley said an investment
arm of the Chinese govern-
ment had agreed to invest $5
billion in the company. The
news calmed some fears that
Wall Street's major players
would face severe liquidity
crunches as banks worldwide
continue to refrain from lend-
ing to each other amid con-
cerns about souring debt tied
to mortgages.

Infusions
Doug Roberts, chief invest-
ment strategist at Channel
Capital Research, contends
the ability of banks like Mor-
gan Stanley and earlier Citi-
group Inc. to arrange cash
infusions from well-healed for-
eign governments appeared to
quiet some of Wall Street's
unease.


Gold prices drop on

strengthened US dollar,

year-end profit-taking

NEW YORK
Associated Press
GOLD prices slipped Thursday as the dollar strengthened, rein-
forced by confirmation of brisk U.S. economic growth in the third
quarter despite a possible softening in the job market.
In other commodity markets, energy prices advanced, while
agricultural futures traded in a mixed range.
The dollar made gains against the British pound and euro amid
mixed data on the U.S. economy. The Commerce Department
reiterated its earlier estimate that gross domestic product grew
4.9 percent in the third quarter its fastest pace in four years. How-
ever, analysts expect the economy to slow to a sluggish 1.5 percent
growth rate in the final three months of the year.
In other economic news, the Labor Department said more peo-
ple signed up for unemployment benefits last week, suggesting
that the job market is weakening.
But inflation is rising at the same time, and that could prevent the
Federal Reserve from cutting interest rates much further in 2008
after the central bank rolled back rates three times this year. Inter-
est rates underpin a nation's currency; if rates in the U.S. remain
steady, that could lend support to the greenback.
A strengthening dollar tends to pressure gold prices, as investors
pull money from precious metals, which are viewed as a safe haven
when a currency declines.
"It looks like the dollar is recovering even more so that may be
attributable to gold's decline," Carlos Sanchez, CPM Group pre-
cious metals analyst. "Profit-taking is also pushing gold prices
down a couple of dollars."
Gold for February delivery dropped $3.50 to $801.90 an ounce on
the New York Mercantile Exchange. March silver futures rose
12.8 cents to $14.35 an ounce.
The 13-nation euro bought $1.4348, down slightly from $1.4381
late Wednesday.
Energy prices moved higher, after earlier trading in negative
territory, when an oil tanker tracking firm predicted OPEC oil
shipments will fall for the first time since August.
Traders also have been concerned about declining inventories of
crude oil and distillates, including heating oil and diesel fuel. The
Energy Information Administration reported Wednesday that
crude supplies fell by a larger-than-expected 7.6 million barrels last
week, while distillate supplies were down by 2.1 million barrels, also
a bigger draw than analysts had forecast.
Light, sweet crude for February delivery rose 48 cents to $91.72
a barrel on the Nymex.
January gasoline futures rose 1.89 cents to $2.3508 a gallon,
while January heating oil futures added 1.46 cents to $2.6125 a gal-
lon on the Nymex.
Elsewhere, agricultural futures were mixed on the Chicago
Board of Trade.
March corn rose 1.5 cents to $4.3625 a bushel, while January soy-
beans jumped 5.25 cents $11.6425 a bushel. March wheat fell 13.5
cents to $9.60 a bushel.


"The Morgan Stanley
announcement combined with
the Citigroup announcement
establishes this kind of a back-
stop on the financial. It's not
a firm thing, but it kind of
gives the shorts some room
for pause," he said, referring
to short-sellers. Short sellers
profit by accurately predict-
ing when stocks will fall.
He also said Oracle's results
indicate that some companies
will still be able post growth
figures even as tight credit
markets make it harder for
other companies to raise cap-
ital.
In midday trading, the Dow
Jones industrial average fell
33.73, or 0.26 percent, to
13,173.54.
Broader stock indicators
were mixed. The Standard &
Poor's 500 index fell 3.05, 0.21
percent, to 1,449.95, and the
tech-heavy Nasdaq composite
index increased 10.60, or 0.41
percent, to 2,611.61, helped by
Oracle.
Declining issues outnum-
bered advancers by about 3 to
2 on the New York Stock
Exchange, where volume
came to 598.2 million shares.
Bond prices rose following
the economic data. The yield
on the 10-year Treasury note,
which moves opposite its
price, fell to 4.00 percent from
4.03 percent late Wednesday.
The dollar rose against oth-
er most major currencies,
while gold prices fell.
The stock market's rela-
tively quiet session follows
several up-and-down weeks
that have left investors trying
to gauge how well the econo-
my will fare.
Some economists are pre-
dicting a recession could result
from troubles including bad
mortgage debt, rising inflation
and a possible slowdown in
consumer spending.
While Wall Street heads
toward holiday-shortened
weeks that often bring little
action, stocks could still see
volatility, particularly given
the expiration of options con-
tracts Friday.
Known as "quadruple
witching," it marks the expi-
ration of contracts for stock
index futures, stock index
options, stock options and sin-
gle stock futures.
In corporate news, Bear
Steams fell 50 cents to $90.10
after its report that turmoil in
the credit market reduced the
investment bank's portfolio
by $1.2 billion in the fourth
quarter, leading to a hefty loss.
Oracle rose $1.38, or 6.7
percent, to $22.14 after its
report.
Meanwhile, FedEx Corp.
fell $1.24 to $93.39 after post-
ing a 6 percent decline in
quarterly earnings amid high
fuel costs and a U.S. econom-
ic slowdown.
The company also issued a
forecast that fell below expec-
tations.
The Russell 2000 index of
smaller companies fell 3.86, or
0.51 percent, to 752.27.
Overseas, Japan's Nikkei
stock average rose 0.01 per-
cent, and Hong Kong's Hang
Seng index slipped 0.05 per-
cent. Britain's FTSE 100 rose
0.97 percent, Germany's DAX
index rose 0.41 percent and
France's CAC-40 rose 0.26
percent.


Colina Imperialo



ay the hope and joy of the Christmas season remain

with you every day of the coming year! Thank you for your

patronage In 2007, and we look forward to serving you with

excellence In 2008. Blessings from our family to yours!



Christmas Holiday Hours

Nassau, Grand Bahama, Abaco and Exuma


Friday, December 21
Monday, December 24
Tuesday, December 25
Wednesday, December 26
Thursday, December 27
Friday, December 28
Monday, December 31
Tuesday, January 1, 2008
Wednesday, January 2, 2008


Open 8:30 a.m. to 12:00 p.m.
Closed
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Open 8:30 a.m. to 5:00 p.m.
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Saturday Hours: Open Dec. 22nd; Closed Dec-29th

BAHAMAS / CAYMAN ISLANDS / TURKS & CAICOS
CALL: (242) 396-2000


EMAIL: info@colinaimperial.com


* CLICK: www.colinaimperial.com


Christmas



Crackers


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Tel- (242) 393-4002 ..
Fax (242) 393-4096 .'. .


~h~a~iSR ~4~A~


THE TRIBUNE


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