NASSAU AND BAHAMA ISLANDS LEADING NEWSPAPER GIRL, 15, KILLED IN FAMILY QUARREL Volume: 107 No.309MONDAY, OCTOBER 24, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER SUNNY, T-STORMS HIGH 85F LOW 77F By AVA TURNQUEST Tribune Staff Reporter email@example.com A FAMILY quarrel result ed in the stabbing death of a 15-year-old girl inside her Golden Gates home. The girls 47-year-old father is assisting police with investigations into Saturdays death, Paul Rolle, head of the Criminal Detective Unit, said. Police found Richa Gib sons body with neck injuries inside an apartment at Southward South off Sunshine Way shortly after 10am. No charges will be pressed right now, (CDU doing investigations, Mr Rolle said. Richas death shocked neighbours and area resi dents, most of whom said they found the fatal stabbing of the 11th grade C V Bethel student hard to believe. Thats sad. Im speechless right now. Everybody is still in shock, a neighbour said. Its hard to believe it actually happened, it hasnt sunk in yet. Another neighbour said: This is a very good commu nity. I dont know what went wrong. The screams of a woman neighbour pierced the traditionally nice and quiet street on Saturday morning. According to residents, the woman came running down Teenager stabbed to death, father helping inquiries TRY OUR PINA COLADA McFLURRY The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM By AVA TURNQUEST Tribune Staff Reporter firstname.lastname@example.org TWO separate homicide teams are investigating the shooting death of a 28-yearold man in Fox Hill. The man was found in the passenger seat of a white Honda Accord with multiple gunshot wounds early Satur day morning. Shortly after 3am, police were called to the scene at Johnson Road, where it was reported that the victim got into an argument with another man before he was shot. Paul Rolle, head of the Central Detective Unit, said that two separate teams were sent out to explore all possible By TANEKA THOMPSON Deputy Chief Reporter email@example.com SIX men were shot and a teen boy stabbed during a weekend of bloodshed. One of the men, a former Royal Bahamas Defence Force officer, was wounded by police during a daring morning shoot-out in the Golden Gates area. Police said the 25-year-old former marine pulled a handgun and opened fire on offi cers of the Mobile Division, By NATARIO McKENZIE Tribune Staff Reporter firstname.lastname@example.org PRIME MINISTER Hubert Ingraham yesterday called for a new era of volunteerism and giving at a special service marking the 40th anniversary of the founding of the Free National By NATARIO McKENZIE Tribune Staff Reporter email@example.com ELIZABETH MP Ryan Pinder yesterday criticised the government for implementing policies that he said have hurt small to medium sized businesses and ultimately caused the Bahamas to I NSIGHT S S T T R R U U G G G G L L E E T T O O T T A A K K E E O O N N C C A A R R I I B B B B E E A A N N G G A A N N G G S S SEEINSIGHTON12B SPORT N N O O E E N N D D T T O O D D O O L L P P H H I I N N S S N N I I G G H H T T M M A A R R E E SEESPORTSSECTIONE S S E E E E p p a a g g e e 8 8 S S E E E E p p a a g g e e 9 9 S S E E E E p p a a g g e e 9 9 S S E E E E p p a a g g e e 8 8 S S E E E E p p a a g g e e 8 8 SIX SHOT IN BLOOD Y WEEKEND MAN F OUND SHO T DEAD IN CAR FAMILY AND friends of Richa Gibson react to the news of her death Photo: Felip Major / Tribune Staff RICHA GIBSON, 15, who was stabbed to death at her home PMCALLSONVOLUNTEERS BUSINESSES ARE HURTING im lovin it
By THE ROTARY CLUBS OF THE BAHAMAS IN October, we observe both World Polio Day and the birthday of Dr Jonas Salk, who developed the worlds first safe and effective vaccine against this crippling and sometimes deadly disease. W e also celebrate the fact t hat the world is on the verge of eradicating one of the most feared diseases of the 20th century. When Rotary launched its push to end polio in the 1980s, the wild poliovirus crippled nearly 1,000 people every day. Since then, Rotary and its partners in the Global Polio Eradication Initiative have reduced the incidence of polio by 99 per cent. And the push continues: T his year, India has the lowest n umber of polio cases in history. We are this close to ending polio once and for all. Despite this tremendous progress, children in some developing countries continue to be infected. Thats why Rotary and its partners must reach every child in some of the most challenging regions of the world with the oral polio vaccine. But the greatest challenge to the polio eradication effort LOCAL NEWS PAGE 2, MONDAY, OCTOBER 24, 2011 THE TRIBUNE 0U%HQ$OEXU\ GOODBYE POLIO, THANKS TO ROTARY S S E E E E p p a a g g e e 7 7
B y TANEKA THOMPSON Deputy Chief Reporter firstname.lastname@example.org THE family of hit and run victim Levon Cooper want the person responsible for his death to come forward to police so that they can have closure. His sister, Petra Cooper, said the grieving family is still trying to come to terms with his death and want justice to be served on the person who left him lying on the side of the road like a dog". Yesterday, she appealed to the drivers conscience and urged the person responsible to surrender to police. Wed like for them to turn themselves in. They knocked him down and left him to die like a dog and if it was their family they would have hoped the person would have stayed and said it was an accident. You can understand an accident happening but you fled the scene, people need to put themselves in the situation of the victim. If the tableswere turned you would want someone to say I made a mis take. We would have felt bet ter if the person had stopped. The ordeal is particularly traumatic for Mr Cooper's mother, who is recovering from a recent stroke. My mom, all she saying is They kill my son. We hope it doesn't just go down as another traffic fatality, said his sister. Mr Cooper, 32, died after he was hit by a passing vehicle on St Vincent Road near Silver Gates Boulevard, a few yards away from his home. He was walking to his cous ins home when he was struck by the passing car at around 8pm on October 16. Residents of the area heard the accident, but when they ran outside the driver was gone, his sister said. Mr Cooper, a father of a five-year-old girl, was pronounced dead at the scene. Last week, police said they were looking for the driver ofa Ford Expedition, model year between 1998 and 2001. The car should have some damage to its right side, police said. Ms Cooper believes critical evidence was washed away by rain and the only way the case can be closed is if the driver turns him or herself over to police. Last week, the victim's uncle Victor Cooper said the family is willing to forgive the hit and run driver. Anyone with information about this incident, or who has seen an Expedition or similar truck with front end damage, are asked to call: 911, 919, 3223333, 393-7204, 393-7714/4 or Crime Stoppers on 328-TIPS. By CELESTE NIXON T ribune Staff Reporter c email@example.com AFTER 15 years of planning, the government hassigned a contract with a Chinese construction company to build a bridge linking North Abaco and Little Abaco. The contract with China Harbour Engineering Company (CHEC include the construction of a new port in North Abaco. At a press conference Frid ay at the Ministry of Finance, the government signed the $40 million contract, which will be funded by the EXIM Bank of China. The project will begin in December with the bridge expected to be completed in February 2013 and the Port in November 2013. According to Permanent Secretary for the Ministry of Works Colin Higgs, the design and construction of the Little Abaco Bridge will cost $6.5 million and the North Abaco Port is estimated to cost upwards of $33 million. Mr Higgs said the existing 300 long causeway constructed 50 years ago across Angel Fish Creek has negatively impacted the surrounding marine ecosystem. He said the old causeway cutoff tidal flow and fish migration between the islands and adversely affected ecosystems and most notably, fish. The new bridge will be constructed on the north side of the existing earth-fill causeway and will have a total opening width of 150, which will not only restore tidal flow but will allow pleasure and fishing vessels to travel between the north and south sides of Abaco, Mr Higgs said. The plan to build a new international and domestic port at Conch Rock Creek, two miles north of Coopers Town, is aimed at relieving congestion at the Marsh Harbour Port and encouraging further development in Abaco. Mr Higgs added that the port will include a marina where fishing and pleasure vessels can stop for fuel or supplies. The project includes plans for an administration building and warehouses for both domestic and international cargo, said Mr Higgs. Representing CHEC, regional director Zhongdong Tang said the contract signing is just the start of the real work. He added: I hope to have more and more opportunities in the Bahamas to expand our business here. TWO men were arrested by police after they were allegedly found in possession of illegal firearms. Police took a 26-year-old resident of Commonwealth Boulevard into custody after it was alleged that hewas found with a handgun and ammunition while at Pratts Alley off Rupert Dean Lane around 12.45pm Friday. Police also arrested a 19year-old resident of Johnson Road after they allegedly found him with a handgun and ammunition. Officers of the Wulff Road Police Station picked the suspect up at 2.15am Saturday while they were on routine patrol of Wulff Road, near Peach Street. Police said they saw the teen acting suspiciously and when they approached him he allegedly threw an object under a nearby car. The officers searched under the car and found a handgun and ammunition. Active police investigations continue. CRIME TIP ACCORDING to section 212, subsection two of Chapter 84 of the Penal Code, every person who throws or discharges any stone or other missile, to the annoyance, damage or danger of any person, or, in any public place in any town, makes any bonfire or sets fire to or throws when lighted any firework is guilty of an offence and liable to a fine of $150. The use of a single firecracker can result in the loss of an eye, a finger or even permanently damage hearing, police said. Damage or injury as a result of the use of firecrackers may result in your child/children being placed before the courts. LOCAL NEWS THE TRIBUNE MONDAY, OCTOBER 24, 2011, PAGE 3 6((.,1*,7<0DQDJHPHQW&RQVXOWDQW ,QIRUPDWLRQHFKQRORJ\ +XPDQHVRXUFHV &RPPXQLFDWLRQ ,QVXUDQFHDQDJHPHQW)/0,&HUWLHG 2SHUDWLRQVDQDJHPHQW %RRNNHHSLQJHUYLFHV$FFRXQWVD\DEOH $FFRXQWVHFHLYDEOHV 3D\UROO ,QYHQWRU\ %DQNHFRQFLOLDWLRQ &RQWDFW0DFLH'DZNLQV+DQQD 3 1DVVDX%DKDPDV (PDLO'DZNLQVDQGDVVRFLDWHV#JPDLOFRP FAMILY CALLS ON DRIVER IN HIT-AND-RUN KILLING TO ADMIT RESPONSIBILITY CHINESE CONSTRUCTION COMPANY TO BUILD ABACO BRIDGE LEVON COOPER, who died after being hit by a vehicle at about 8pm on October 16 on St Vincent Road, near Silver Gates Boulevard. Police said they were looking for the driver of a Ford Expedition, model year between 1998 and 2001. TWO ARRESTED OVER GUNS FIND
EDITOR, The Tribune. Re: Hurricane relief supplies I am writing as a civil servant and as a citizen of The Bahamas. In the Central Eleuthera District, two assessments were done. I am writing in particular about my aunt who on her next birthday will be 74 years young, but she still thinks she can build and break down things, but she is not able. She worked hard all her life for her sisters, brothers and her mother who had no husband, she worked hard to help her nieces and nephews, she also built her dwelling home to retire in. T hen along comes Hurric ane Irene that did lots of d amage to her three bedroom home. She sat in there and watched water or rain pour into each room. That did something to my old aunt, I watched her sitting there helpless and not knowing where to put herself. Her brother (in Nassau sent some of his friends and some shingles and she borrowed some shingles to have her home repaired. When this was completed, I saw a little life come into her eyes. Then the second home assessment was done and she was told that since she had repaired her roof already, she was not eligible for any shingles for her roof, even the ones she had borrowed. A pensioner and trying to survive in a messedup economy. I am not sure if that is right. She was told she had to sit in her house and not do any repairs. Mind you, nobody gave her any tarp for her house and it was given out to certain people. Was she to sit in a leaking house for five weeks and wait for NEMA or the Prime Minister to decide to give something to Eleuthera? Remember it was said that Eleuthera was not devastated. I dont think that this is fair to my aunt. How is she to pay the person back for his shingles? I wish that NEMA or the Prime Minister could clear this up for me, as no one in t he Central Eleuthera is able t o clear up. M. A. E. R., Eleuthera, October 5, 2011. EDITOR, The Tribune Nothing has more eloquently articulated how the Bahamas has been damaged by the style and philosophy of PLP misrule and incompetence than the recent experience with the new Straw Market. Destroyed by fire just nine months before the PLP's election to office in May, 2002, the market was an iconic Bahamian institution playing a unique role in the economic and cultural life of Nassau. It was one of the major venues through which tourism directly connected with our economy, providing an income for generations of proud and resourceful Bahamians. It was an historic land mark and point of reference f or giving directions on Bay S treet. There was no ques tion of the urgency of its replacement. And yet the PLP, after five years in office, made absolutely no progress with its replace ment, save for a last-minute c ontract signing at the very end of their term which was a public-relations stunt. Despite the ritual document signing, there were no completed drawings for the market. The weary, waiting vendors, either from a sense of fallen expectations, acquiescence to the PLP, or hypno sis brought on by the grand nature of another Perry Christie promise, appeared not to notice how badly they had been treated. When the House debated the legislation for the operation and sustainability of the new Straw Market, Mr Christie, who days before visited the site and heaped scorn upon the market and the Government which got the job done, led his team in trying to belittle something he never accomplished. As one MP noted, the Opposition continue to praise themselves for what they did not do, while criticizing the current Government for what it has done so well. This is the very definition of hypocrisy. In typical form the PLP encouraged the vendors to see any effort to require maintenance of standards and discipline as the imposition something unfair. What was unfair and a hardship is the PLP leaving straw vendors and woodcarvers without a decent Straw Market despite broken promise after broken promise. The Oppositions rhetoric during the debate on the Straw Market Authority was reminiscent of those old days when the PLP createda culture of self-entitlement and slackness which led too many Bahamians to believe that they could get whatever they want because the Government owed them something. I believe that this mindset led to people not paying their National Insurance contributions and to a greater tolerance for getting over which excused fraudulent behaviour and a growing culture of criminality. The Bahamian people have now on two occasions rejected this shameless behaviour from a PLP which refuses to reform its culture of corruption and self-enti tlement. They will do so again, though it is unlikely that a scandal-ridden PLP will get the message. BLS Nassau, October 19, 2011. EDITORIAL/LETTERS TO THE EDITOR PAGE 4, MONDAY, OCTOBER 24, 2011 THE TRIBUNE The Tribune Limited N ULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master LEON E. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. Publisher/Editor 1919-1972 C ontributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972P ublished Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas I nsurance Management Building., P.O. F-485, Freeport, Grand Bahama LIBYAS transitional leader declared his countrys liberation Sunday after an 8month civil war and set out plans for the future with an Islamist tone. The announcement was clouded, however, by international pressure to explain how ousted dictator Moammar Gadhafi had been captured alive days earlier, then ended up dead from a gunshot to his head shortly afterward. Gadhafis death in circumstances that are still unclear, and the gruesome spectacle of his body laid out as a trophy in a commercial freezer and on public view, are testing the new Libyan leaders commitment to the rule of law. Even at the ceremony to declare liberation, two speakers in positions of authority essentially said Gadhafi got what he deserved. But transitional government leader Mustafa Abdul-Jalil, who made the keynote speech, did not mention the events sur-r ounding Gadhafi's end and called on his people to eschew hatred. You should only embrace honesty, patience, and mercy, Abdul-Jalil told the crowd at the declaration ceremony in the eastern city of Benghazi, the birthplace of the uprising against Gadhafi. He urgedL ibyans to reconcile their differences. And he laid out a vision for the postGadhafi future with an Islamist tint, saying Islamic Sharia law would be the basic source of legislation and existing laws that contradict the teachings of Islam would be nullified. In a gesture that showed his ownp iety, he urged Libyans not to express their j oy by firing guns in the air, but rather to chant Allahu Akbar, or God is Great. He then stepped aside from the podium and knelt to offer a brief prayer of thanks. Using Sharia as the main source of legislation is stipulated in the constitution of neighbouring Egypt. Still, Egyptian laws remain largely secular as Sharia does not cover all aspects of modern day life. The uprising against Gadhafi erupted in February as part of anti-government revolts spreading across the Middle East. Neigh bouring Tunisia, which put the so-called Arab Spring in motion with mass protests nearly a year ago, has taken the biggest step on the path to democracy, voting for a new assembly Sunday in its first truly free elections. Egypt, which has struggled with continued unrest, is next with parliamentary elections slated for November. Libyas struggle has been the bloodiest so far in the region. Mass protests quickly turned into a civil war that killed thousands and paralyzed the country for the past eight months. Gadhafis hometown of Sirte was the last loyalist stronghold to fall last week, but Gadhafis son and one-time heir appar ent, Seif al-Islam, apparently escaped with some of his supporters. Abdul-Jalil paid tribute to the Gulf Cooperation Council, a six-nation alliance led by Saudi Arabia, the Arab League and the European Union. NATO, which aided the anti-Gadhafi fighters with airstrikes, performed its task with efficiency and professionalism, he added. President Barack Obama congratulated Libyans on the declaration. After four decades of brutal dictatorship and eight months of deadly conflict, the Libyan people can now celebrate their freedom and the beginning of a new era of promise, he said. But just hours before that statement, US Secretary of State Hillary Rodham Clinton and Britains new defence secretary, Philip Hammond, said a full investigation into Gadhafis death is necessary. An autopsy confirmed that Gadhafi died from a gunshot to the head, Libyas chief pathologist, Dr Othman al-Zintani, said. However, the pathologist said he would not disclose further details or elaborate on Gadhafis final moments, saying he would firstd eliver a full report to the attorney general. Libyas acting prime minister, Mahmoud Jibril, said he would not oppose an investigation, but cited an official reporting saying a wounded Gadhafi was killed in crossfire following his capture. Addressing the celebrations around Gadhafis body, Jibril toldt he BBC in an interview on Sunday: You have to appreciate the agony that people went through for 42 years. The 69-year-old Gadhafi was captured wounded, but alive Thursday in his hometown of Sirte, the last city to fall to revolutionary forces. Bloody images of Gadhafib eing taunted and beaten by his captors h ave raised questions about whether he was deliberately executed. Gadhafis body has been on public dis play in a commercial freezer in a shopping centre in the port city of Misrata, which suffered from a bloody siege by regime forces that instilled a virulent hatred for the dictator in Misrata's residents. People have lined up for days to view the body, which was laid out on a mattress on the freezer floor. The bodies of Gadhafis son Muatassim and his ex-defence minister Abu Bakr Younis also were put on display, and people wearing surgical masks have filed past, snapping photos. The New York-based group Human Rights Watch, which viewed the bodies, said video footage, photos and other infor mation it obtained indicate that they might have been executed after being detained. Finding out how they died matters, said Sarah Leah Whitson, of Human Rights Watch. It will set the tone for whether the new Libya will be ruled by law or by summary violence. The vast majority of Libyans seemed unconcerned about the circumstances of the hated leader's death, but rather was relieved the country's ruler of 42 years was gone, clearing the way for a new beginning. By Karin Laub and Kim Gamel, Associated Press Rebuilding after the hurricane LETTERS firstname.lastname@example.org Transitional leader declares Libyan liberation %HWWHULVD OLWWOHZLWK ULJKWHRXVQHVV 7KDQYDVW UHYHQXHV ZLWKRXWMXVWLFH 3URYHUEV PLPletdown over market The new Straw Market building on Bay Street
LOCAL NEWS THE TRIBUNE MONDAY, OCTOBER 24, 2011, PAGE 5 N A S S A U G L A S S C O M P A N Y SA RT G A L L E RY& L I G H T I N G C E N T R EP re ~ C h r i s t m a s S a l eO F F S T O R E W I D E ** e x c l u d i n g t h e g l a s s d e p a r t m e n t a n d i t e m s o n c o n s i g n m e n tM o n d a y O c t o b e r 2 4 t h ro u g h S a t u rd a y N o v e m b e r 1 2CUSTOM &READY-MADE FRAMES15%OFFMackey St 393-8165 393-3723HOURSMonday Friday 8:30am 4:30pm Saturday 8:30am 1:00pmAll major credit cards accepted as cash!www.nassauglass.com THE roads in Mastic Point, Nicholls Town and Stanyard Creek, North Andros are deplorable and in urgent need of repair, said Works Minister Neko Grant. The ministers assessment came during a tour of roads of several settlements in North Andros over the weekend. He was accompanied by a small delegation, including Education Minister and Andros native Desmond Bannister; Director of Works John Canton and Dion Munroe, an engineer. Garnett Campbell, an area engineer and local govern ment officials Maxine Duncombe, Vanda Rahming and Dr Huntley Christie were also a part of the tour of public infrastructure. Mr Munroe said initial assessments reveal that the roads are in a state of disrepair and some require total reconstruction. The roads inspected were built about 30 years ago and have been maintained through frequent patching by Ministry of Works workers on the island. SENATOR Jacinta Higgs was tightlipped yesterday over reports that she will not offer herself as a candidate for the Free National Move ment in the next general elec tion. When contacted for comment Mrs Higgs who ran on the FNM's ticket in the Fox Hill constituency in 2007 but lost to incumbent MP Fred Mitchell would only say that an official decision has not been made by the party's leader Prime Minister Hubert Ingraham. He (Mr Ingraham ratified his candidates for the upcoming election, said the senator when asked about her political future, When pressed by The Tri bune on whether she has decided not to offer herself for renomination she said: I still yield to my leader. A source close to Mrs Higgs said the veteran educator has plans to leave politics and focus on her career and private life. In August, Mrs Higgs opened her own school in Fox Hill, the area in which she grew up. HIGGS SILENT ON C ANDIDACY ANDROS ROADS DEPLORABLE MINISTER OF Public Works and Transport Neko Grant (1st from left) makes an observation of a road in Nicholls Town, Andros as Dion Munroe, engineer (2nd from left (centrePhoto:BIS Photo/Letisha Henderson
RIDE for Hope Bahamas announced today the appointment of its firsta dministrator, Alicia Wallace of Nassau. A 2009 graduate of St M arys University, Nova Scotia with a bachelors d egree in commerce and economics, Alicia brings to the Ride for Hope enthusi-a sm and demonstrated experience in the areas of notf or-profit work, administration, planning and budget management, organisers oft he charity say. Dedicated and self-motivated, Alicia impressed RFH interviewers with the manner in which she hasa lready used her energy and talents to help make the world a better place, they s aid. While pursuing her undergraduate degree, Ali c ia single-handedly planned and coordinated a summer day care camp, funding the business by way of personal savings, a small loan andp rize money she had won from a business plan com petition. The highly successful pro gramme employed eight t eachers and ran year-toyear on budget. Also while at college, Ali cia worked for the Canadian social systems Phoenix Youth Programme and wasa live-in supervisor and mentor for young women. With responsibilities beyond many of her peers, Alicia ensured that her resi dents, some of whom were older than she, lived healthy lifestyles, followed productive day-to-day schedules, and met programme expectations by attending meetings, programme nights, school and/or work, and house meetings. A volunteer for the Cana dian Cancer Society (Nova Scotia), Junior Achievement (Nova Scotia and New Prov idence), and St Marys University Career Development Centre, Alicia also found the time to excel in her studies. She was nominated as Student Entrepreneur of the Year, won the Best Part Time Business Idea Award, and the Rev JJ Hennessey, SJ Medallion Award. The Ride for Hope was established six years ago to build the hope and resources needed to fight cancer in the Bahamas. Its flagship event, held in Eleuthera each Spring, has grown into one of the countrys most respected and successful charitable fundrais ers. Collectively, more than 1,500 participants have cycled more than 45,000 miles and raised nearly $1.6 million since its inception in 2006. As administrator, Alicia will play a big role in the many months of advance planning that go into the Ride for Hope. She will also provide yearround support and oversight to the growing number of programmes receiving RFH funding. Through the generosity of long-standing corporate sponsors, Alicias office is located at the law firm Holowesko, Pyfrom, Fletcher in the Templeton Building, West Bay Street. LOCAL NEWS PAGE 6, MONDAY, OCTOBER 24, 2011 THE TRIBUNE THE Bahamas Humane Society is urging anyone who sees a person abusing animals with fireworks this Halloween t o report the incident immed iately. A statement issued on Friday listing precautions for Halloween and Guy FawkesDay said all cases of animal cruelty should be reported either to the police or the Humane Society. The statement said: Jacko'-lanterns, trick-or-treaters, haunted houses, costume parties and fireworks Halloween is full of fun things for you and your family to enjoy, but it's one of those holidays t hat is enjoyed more by peop le than by pets. Keep the following precautions in mind when preparing for the frightfully fun festivities and help ensure that everyone in your family including your pet has a safe Halloween and Guy Fawkes. The statement said pets should be kept in a quiet place, away from trick-or-treaters and other Halloween activities. You may know that the miniature monsters and goblins that come knocking on H alloween aren't real, but pets d on't. Dogs and cats are creatures of habit and could become frightened or agitated by the unaccustomed sights and sounds of costumed visitors. In addition, the Humane Society said, frequently opened doors provide a perfect opportunity for escape, which can go unnoticed during all the commotion. Owners were urged to ensure all pets are wearing collars and ID tags in case of an accidental getaway. T he statement added: Place live flame Guy Fawkes and decorations like candles and jack-o'-lanterns out of your pet's reach. Curious critters risk being singed or burned by the flame they could also easily knock over a candle or pumpkin and causea fire. Dont let the family dog accompany the kids on their trick-or-treat outing. Children may have a difficult time handling a pet during the festivities and your pooch could get l oose, especially if your dog i s spooked by the strange sights and sounds of trick-ortreaters Keep decorations that pets could chew on like streamers and fake spider webs and wires and cords from electric decorations out of reach. If pets chomp on Halloween decorations, they could choke or may become ill and, if they chew on electrical cords, they risk a potentially deadly electrical shock. Pets could also become t angled and injured by dangling cords or decorations. The statement said any owners who know their pet is very frightened of loud noises should contact their veterinarian to buy a sedative to keep the pet calm. This will prevent injuries to the pet and damage to furniture, it said. CALLS FOR ANIMAL ABUSE WITH FIREWORKS TO BE REPORTED ADMINISTRATOR TO HELP ADVANCE THE CAUSE OF RIDE FOR HOPE ARIDER at a previous Ride For Hope event
LOCAL NEWS THE TRIBUNE MONDAY, OCTOBER 24, 2011, PAGE 7 :LQ)5((DPP RJU DP IRU L IH By DANA SMITH A HORSE was left badly injured and its owner demanding answers after a horseback tour in Coral Harbour had a violent encounter with a dog. Happy Trails Stables staff were conducting a beach tour that included four riders, two of whom were tourists, when the incident occurred. Susan Smith, owner of the stable, who was not present at the time, expressed anger at the owner of the dog. They were on the beach when they saw these two pitbulls off the leash coming around the corner, Ms Smithsaid. The dogs ran at the lead h orse carrying the tour guide and pulled it down to the ground. It was quite horrific, they were tearing chunks out of the horse, she said. According to Ms Smith, the attack lasted nearly 10 minutes, only ending when the dogs became too exhausted to continue and the owner managed to put them on a leash. T he horse suffered several bites on its legs, but no people were harmed. Our tour guide managed to keep kicking at them and keep them moving until they were exhausted, Ms Smith said. Luckily they only bit at his shoe, and didn't get his foot. The other local rider who was with him, led the two tourists away from the attack, fearing the dogs might turn on them next. However, Cliff Block, the owner of the two dogs who was present at the time said only one of his dogs was involved in the incident, which he described as a miscommunication between animals. Mr Block said both he and his dog were injured, forcing him to seek medical attention. He said the dog in question is not a pit bull, but rather a 45-pound Staffordshire Terrier rescued through t he Bahamas Humane Societys BeHumane programme. We were alone near the beach playing fetch when the group of horses and riders startled us, Mr Block said. My dog went for a sniff and was lightly kicked by the horse. The rider whipped at him and he went for another sniff, again another kick but harder. Mr Block believes it is important to point out that there are no posted signs of possible horse traffic in the area. I'm sure my dog was confused and thought it to be a big dog, he said. I called to the lead rider to relax as hes never seen a horse, but the group leader began yelling and losing control of his horse. I called for him to dismount, but the horse began to kick and the dog began to bite. During the next few minu tes, Mr Block said, everyone was in a very excited state. I was hurt, the dog got kicked, the horse got bit, and the rider lost control. The incident ended when I literally dove beneath the horse and held my dog close, he said. Mr Block claimed he was hurt trying to avoid the horses kicking and had to be treated for an injured knee and three abrasions. His dog was also injured by the kicking horse, but did not receive any professional medical treatment. I feel great remorse at this incident as I would never want to see any harm come to such beautiful animals, Mr Block said. In the future, this animal lover will avoid this part of New Providence. is a funding shortage. In response, Rotary is working to raise $200 million in response to a $355 million challenge grant from the Bill and Melinda Gates Foundation. All of the resulting $555 million will support crucial immunisation activities in countries where polio still threatens children. Rotary club members worldwide have already raised $180 million of the $200 million challenge. Over the past 26 years, Rotarys 1.2 million members in 200 countries and regions have contributed more than $1 billion and countless volunteer hours to help immunise more thantwo billion children in 122 countries. Rotary also reaches out to governments worldwide t o obtain vital financial and technical support. S ince 1995, donor governments have con tributed in excess of $8 billion to polio eradication, due in part to Rotarys advocacy efforts. The commitment of Rotary volunteers worldwide demonstrates the extraordinary role civil society can play in improving global health. Right now, in honour of World Polio Day,R otary clubs around the globe are doing their part to raise awareness and critically-needed funds to vanquish the disease forever. Once eradicated, polio will join smallpox as the only two human diseases ever eradicated, fulfilling Rotarys promise to create a polio-free world. For more information, visit: www.rotaryba hamas.org. f f r r o o m m p p a a g g e e t t w w o o GOODBYE POLIO, THANKS TO ROTARY HORSE ATTACKED BY DOG SOME OF the injuries suffered by the horse in the incident.
who were acting on information, when they approached him at 9 am at Sisal Road. The officers returned fire and shot the Ocean Street resident who is now in hospital in stable condition. Police said no one other than the gunman was injured during the exchange of gunfire, however, there was some property damage. Several shots were exchanged. Some property was damaged in the area and I think someones car windshield was shot out and some damage caused to a door of another vehicle, said head of the Central Detective Unit Superintendent Paul Rolle yesterday. Two double shootings are also being investigated. Police were told that two m en were walking near Bar 2 0 Corner, in the Mackey Street area, at 9.44 pm Friday when they were approached by four occupants of a silver coloured Honda. Someone inside the car shot at the men, wounding both of them, the car then sped away. The victims were taken to hospital by EMS and are detained in serious condi-t ion. Two other men were shot w hile standing outside Pitt Restaurant on Augusta Street at 10.45 pm Satur day. Police were told that the victims, who are 40 and 31years-old, were outside the restaurant when a red Hon da with two male occupants pulled up. One of the men jumped out of the car and shot at the two men. Both victims were taken to hospital where at last report they were in stable condition. Police also reported that a 28-year-old man is in hospital after he was shot in the face at 6.40 am Saturday. Although police did not release many details on the incident, they said the man was driving south on East Street, near the Garden Hills No. 1 subdivision when he was shot. The victim, a resident of Quarry Mission Road, was taken to hospital and is in serious condition. A 16-year-old boy was stabbed while at the JuJu Tree Club on Johnson Road at 3.30 am Saturday. Police said they are u ncertain of the circums tances surrounding the i ncident which left the teen in hospital in serious condition. Investigators also have their hands full with the country's two latest homicides a 15-year-old girl was stabbed inside her home off Sunshine Way and a 28-year-old man was shot at Johnson Road. Both victims were killed on Saturday morning. Police are actively investigating all of these incidents and have appealed for members of the public with information on thesec rimes to contact them at t he Central Detective Unit at 502-9991 or the Crime Stoppers hotline at 328TIPS Last week, National Security Minister Tommy Turnquest revealed that, up to October 11, crime was u p 10 per cent compared to the same period last year. LOCAL NEWS PAGE 8, MONDAY, OCTOBER 24, 2011 THE TRIBUNE the street yelling that a girl had been stabbed. Another neighbour ran to the house, and said that he saw Richas father, who appeared calm, sitting on the front porch. Richas mother was reportedly at a funeral service when the incident occurred. Richas younger brother also was said not to have been present. Ushered into the house by church members, the mother was overwhelmed with grief and could be heard sobbing with loved ones inside the house. Last night, police said the circumstances surrounding the incident were still unclear. However, sources claim the 15-year-old didnt come home from the previous night until that morning, which led to the argument. Loved ones refused to speak with The Tribune about the incident last night. At the familys home, a woman said: Were going through something right now. Friends and schoolmates said their final goodbyes on a Facebook tribute page created in memory of the 15year-old girl yesterday. Last night, the page had more than 1,900 likes. The C V Bethel High School student was described as a smart and well-rounded girl, who was on the honour roll, cadets and track and field team. A Facebook user said: She was in my homeroom and I refuse to believe this because she was a very kind and quiet person. Another user said: She was having problems at home, dont say nothing about this if you dont know her, or her situation, she was not a bad girl. Anyone with information that might assist this investigation can contact police a t 911, CDU at 502-9991, and Crime Stoppers at 328TIPS. leads. Mr Rolle said: We appeal to persons in Fox Hill com munity who may have some information. We would ask them to come forward and let us know, so we can act on it to try to bring to a speedy reso lution. Illegal firearms recovered in Fox Hill account for nearly 10 per cent of the total guns seized in the country this year, according to police, with illegal ammunition at 35 per cent. Police have recovered 34 i llegal firearms, and one rifle, i n Fox Hill since the launch of their special taskforce in June. Based on the teams find ings, shooting conflicts in the Fox Hill community stemmed from a turf war between three emerging factions that were battling for the "illicit" drug trade in the area. Earlier this month, police announced that turf wars in Fox Hill had subsided. Oper ations in Pinewood Gardens and Nassau Village were launched October 1. However, Mr Rolle said that officers w ill continue to monitor the F ox Hill community. At that time, Mr Rolle maintained that his department was not "stretched" by the record number of homi cides despite a "sharp escala tion" in crime this year. The 28-year-old man is the countrys 106th murder for the year. Anyone with information that could assist police with their investigation can con tact police at 911, CDU at 502-9991, and Crime Stoppers at 328-TIPS. f f r r o o m m p p a a g g e e o o n n e e f f r r o o m m p p a a g g e e o o n n e e f f r r o o m m p p a a g g e e o o n n e e MAN FOUND SHOT DEAD IN CAR SIX ARE SHOT DURING BLOODY WEEKEND A WOMAN is comforted at the scene of Richa Gibsons killing. Photo: Felip Major/Tribune Staff GIRL, 15, KILLED IN FAMILY QUARREL
receive negative ratings by various international agencies and institutions. R esponding to a recent report by the International Finance C orporation (IFC of doing business in which the Bahamas ranked 85th out of 183 c ountries Mr Pinder said: In the last four years, under the F NM Government, the Bahamas has fallen from an IFC ranking of 59 to an embarrassing 85th; with respect to our Latin American and Caribbean neighb ours, we now rank thirteenth. Colombia, Tunisia, Rwanda, Puerto Rico, Slovenia, Panama these are just a fewo f the 84 nations who now rank ahead of The Bahamas in ease of doing business. He added: The continued downgrading o f The Bahamas by the IFC r eflects serious mismanagement of the economy by the FNM. Small and medium enterprisess hould be the engine of econ omic growth yet here is evidence that under the current government, conditions for SMEs have worsened conside rably. The low ranking itself is problematic, making it more difficult to encourage new busi ness development, resulting inl ost job creation opportunities e ven as Bahamians struggle with record unemployment. Mr Pinder criticised the government for implementing poli c ies that he said have hurt small to medium sized businesses. When you have policies that cause a contraction in businesses your revenues from a government point of view also f all. That is why the credit rating agencies have had negative outlooks on us as a country because our revenues aref alling and we have been having policies that are adverse to the business environment. H e added: If we created policies that stimulated businesses and can cause an expansion in businesses then you would see g overnment revenue go up because businesses are more successful. When your governm ent revenue goes up the credi t rating goes up as well and you d ont have the negative outlook by credit rating agencies. Mr Pinder noted that apart f rom the IFC ranking, the Bahamas has been falling in o ther rankings as well. This has been a trend for years, going down in this rating.I f you look at other institutions, c redit rating agencies, Moodys and Standard and Poors, the Bahamas has been falling and r eceiving negative outlooks. If you look at the financial services industry ratings index, every single year under this administration likewise we have been f alling. This isnt a one index d eal, its every international rating agency, we have fallen in the Bahamas year after year. According to Mr Pinder, under the PLP, from 2002 to 2007, 22,000 jobs were added to the Bahamian economy. Mr Pinder s aid that the PLPs plan includes business license fee rebates for companies providing academic scholarships for Bahamian stu-d ents; annual retraining for thousands of Bahamians, so skills can be constantly updated; and aB ahamian Venture Fund to support the launch of new Bahamian-owned businesses. Former Chamber of Comm erce President and PLP nominee for Pinewood Khalis Rolle noted: We follow the US mode l in terms of investing from the p ublic sector standpoint. During t his crisis the US decided that they were going to invest in small businesses, we did the e xact opposite. We invested our money in increased taxes and t he public sector. If you want to drive an economy the small and medium sized businessesd rive the economy.Increasing t axes shut down the small and medium sized businesses. When we decided were going to do a l ot of capital works projects that was another failure of investing. In the US model of investing everything stays in the economy. When we invest in capital w orks everything goes out of t he country so you dont get the type of economic stimulus that the US would get. Movement. Mr Ingraham told those assembled at Voice of Delivera nce Disciple Centre in Malcolm Allotment yesterday: In order to address crime and antisocial behaviour, and to build a more peaceful culture and r enew a sense of community requires faith and community based action as well as corporate citizenship, philanthropic e fforts and individual initiative. He noted: The FNM is committed to a balance of personal and social responsibility and we b elieve that giving back and comm unity service are at the heart of good and active citizenship. Community demands civility and civil society, shared sacrifices and s hared responsibility. We see Government as a vehicle it is not an end in itself. He added that his party is c ommitted to equality. We seek to build a country w here the content of ones character and hard work are the keys to success and national development not pedigree or connection. This is why we h ave constantly sought to expand equality and protection and rights of the marginalized, the children, the elderly, and Bahamian women. We are p roud that the first woman e lected to the House of Assembly was an FNM. Prime Minister Ingraham said that the partys 40th a nniversary was a time to renew the values upon which the party was founded, including transparent, accountable a nd good governance. We continue to work tirelessly to put in place the policies, programmes and investments needed to safeguard our c ountry in crime-fighting and national security, in education, in business opportunity, in employment, in health care, ins ocial security and in youth development. As we celebrate our legacy and renew our values, we r ededicate ourselves to improvi ng the daily quality of life and the future needs of the Bahamia n people. For all that we have done and despite the considerable work ahead we remain mindful of why we are here in t he first place to give incorr uptible, responsible and compassionate service to the Bahamian people. The greatest reward for t hose afforded the privilege of office is whether on your watch you made a difference in i mproving the lives and wellbeing of people. This is why we roll up our sleeves, endure all the cussing and shouting, and c arry on to implement the t hings which benefit the Bahamas and Bahamians everywhere, the prime minister said. Mr Ingraham thanked the c rowd for its continued support. Todays celebration is therefore one of gratitude. With grati tude we thank the Bahamian people for the privilege of serving. We thank them for their trust. We are privileged to serve. I n honour of this privilege and t rust we continue our pledge to work tirelessly to improve the lives and future of all Bahamians by ensuring good and accounta ble governance and trustworthy integrity in government. LOCAL NEWS THE TRIBUNE MONDAY, OCTOBER 24, 2011, PAGE 9 Break away from the ordinary and discover how to experience life to the fullest. The Isuzu D-MAX is the ultimate multi-purpose pick-up truck which enables you to drive through tough roadsand load a variety of cargoes. It is specially designed to be powerful, stylish and highly functional. The Isuzu D-MAX is one toughvehicle that willnever let you down!T H E I S U Z U D M A XPOWERFUL COMFORTABLE VERSATILE T YREFLEX S T AR MO TORSCall us today for your new IsuzuD-MAX Pick-Up Truck at 325.4961Wulff Road, P. O. Box N 9123, Nassau, The Bahamas Fax: 323.4667 I suzu D-Max QP-2010.qxd 1/6/10 9:34 PM Page 1 f f r r o o m m p p a a g g e e o o n n e e f f r r o o m m p p a a g g e e o o n n e e BUSINESSES ARE HURTING PMCALLS ON VOLUNTEERS PMHUBERT INGRAHAM is calling for more volunteers
By Sir Ronald Sanders THE economic prospects of the Republic of Ireland could indicate whether the world will head for a second recession or for recovery. While it ranks among the wealthiest countries in the world today in terms of GDP, Ireland is a country long accustomed to economic hardship. It did remarkably better after it joined the European Economic Community (now the European Union) in 1973. An inflow of European funds to bring the countrys infrastructure on par with other better developed European nations, significant corporate investment from the United States with which Ireland has always had strong links due to massive Irish migration, and a significant investment in education, made Ireland highly competitive in the services sector and improved its standard of living dramatically. I n 2010, the United Nations Human Development Index ranked Ireland at number 5 in the world only one place behind the United States and ahead of Canada, Switzerland, Japan and the United Kingdom. All of that is now under threat, and if the Eurozone does not recover from its present crisis particularly over the Greek bailout and its attempt to contain fallout in Portugal, Ireland will be further affected. Ireland has taken strong measures to rebuild its reputation in the services sector, particularly banking. A new report from Morgan Stanley, the US investment bank, draws a clear distinc-t ion between Ireland the other bailout countries Greece and Portugal saying that the Irish economy benefits from its openness to trade, strong manufacturing base and improving competitiveness. The report says: If there is a Eurozone country thatc an meet the challenges posed by the current crisis, it is probably Ireland. Hopefully, the Morgan Stanley assessment will prove to be correct. If events show it to be wrong, Ireland might have to look for a second bailout from the Eurozone countries and the International Monetary Fund, both under considerable strain at the moment. It received the first bailout in November 2010. The effect of a second bailout for Ireland will not be limited to Europe it will be worldwide, hurting US businesses in Ireland, repatriation of profits to the US, weakening currencies and encouraging more trade protectionism. Contraction of economic activity and the second recession that is dreaded globally could become a frightening reality. The good news is that Irel and has experienced two successive quarters of growth (unlike the continued shrinking in Greece and Portugal). Its deficit has dropped to 10 per cent, and the yields on Irish bonds have also fallen to 8 per cent. Investors are clearly more confident that the country will be able to pay off its debts. A significant part of Irel ands good fortune is its people. After centuries of calamity, including the shipment in the 17th century of tens of thousands of their people as indenturedl abourers (virtual slaves the Americas, including the Caribbean, and large-scale migration to the United States in search of economic opportunities a practice that continued until the year 2000 the Irish appear resigned to adaptation and coping. There is a tremendous spirit of getting on with it and doing the best you can. It is a spirit that is reflected in the fine literature that has emanated from this relative ly small island that is often inspirational, even though at times morose. An indication of the nature of Ireland is that while the world would hardly know it, the Republic has elections on October 27th for a new President who would serve a seven-year term. The campaign for the Presidency has grabbed no world headlines and even in Ireland itself, it has elicited little excitement. There are several reasons for this principally that the Irish President is primarily a figurehead even though the post is entrusted with certain constitutional powers such as referring a bill to the Supreme Court for a judgment on its constitutionality. The main point of any anxiety within Ireland, and outside of it, is that among the seven candidates is Martin McGuinness, a former Irish Republican Army (IRA McGuinness Sinn Fein party is struggling to match in the Irish Republic the success it had in elections in Northern Ireland which is part of the United Kingdom of Great Britain. While the long confrontation between British authorities and the IRA, of which Sinn Fein was the political arm, gave Sinn Fein and McGuinness appeal in Northern Ireland for participation in governance, the same draw does not apply in the Republic. Indeed, recent polls show that McGuinness has slipped from third to fifth place in the race and is very unlikely in the few days left to catch-up with poet and former culture minister Michael Higgins and senator David Norris, who isa noted Irish scholar. A television debate between the seven contenders produced no fire-w orks, except for a brief reference to McGuinness role in the IRA, which targeted civilians during a 30-year campaign against British rule in Northern Ireland, and the impact on Irelands international reputation of such a link to the Irish Presidency. The two women contenders have very little hope of improving their chances.T hey are casualties of the success of two previous women, who, between them, have held the Irish Presidency for 21 years. This time, the sentiment clearly is to give a man a chance. One of the former women Presidents, Mary Robinson, went on to become an outstanding United Nations High Commissioner for Human Rights from 1997 to 2 002 and is now closely assoc iated with fighting for jus t ice in Climate Change a position that endears her to many developing countries that have become the victims of changes in climate that threaten the very existence of some of them. So the Irish Presidential election is likely to pass witha new President elected without fanfare and fuss. It will make no shattering difference to Ireland and even less to the rest of the world. Of greater concern now is Irelands capacity to overcome the present economic difficulties by rebuilding its competitiveness in services and high-technology industries. If there is a country that should have the proverbial luck of the Irish, it should be Ireland itself. The world must wish so. Responses and previous commentaries at www. sirronaldsanders.com. 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Of all the Euro nations fighting back from a bailout, Ireland is predicted to have the best recovery.
By Constable 3011 M AKELLE PINDER DRUG AWARENESS provides a reality check and resource for parents to understand the issues their children are experiencing. Children are bombarded with opportunities, from egging to shoplifting. Experimenting, using and abusing drugs is every parents nightmare. Recognising the signs a nd behavior of drug use and w orking with your child is bett er than going through drug rehabilitative treatment later.A parents biggest asset is communication and setting high family values. Where Do I Start? Drug awareness education for your child should begin and continue at home, be enhanced through classroom education and be promoted by law enforcement. Make sure you are open and honest with children let them know experimenting and using drugs are not accepted practices at your home. What Is Out There? Hallucinogens: Block the brains pain receptors. Time and movement seem to slow. Speech is difficult to understand and users hallucinate. Physical effects include lossof appetite, dilated pupils, increased heart rate and sleeplessness. Common names: PCP, Angel Dust, Magic Mushrooms, White Lightening. Stimulants: Make the heart b eat faster which result in elev ated blood pressure, blurred v ision, dizziness, and anxiety or sleep deprivation. Stimulants may cause stroke or heart failure. Taken orally, injected or inhaled. Common names: Speed, Crystal Meth D epressants: Same effects a s alcohol slurred speech and altered perception of reality. Many are in colorful pill form. Large doses often result in convulsions or death. Narcotics: Addictive drugs that reduce pain, alters themood and behavior, may induce sleep. Excessive amounts suppress the ability to breathe and can cause coma or convulsions. What Do I Look For? Sight: Look at your child are their eyes and cheeks flushed red? Are the pupils overly constricted or dilated? Are there strange burns on the mouth or fingers? Do long sleeves hide marks? Smell: Most drugs leave telltale smells. If you notice smells on the breath or clothing be concerned! Be cognitive of overused breath fresheners or heavy perfumes to mask smells. Sound: Listen to what your child says (or doesnt say laughs at. Silence should be a clue! If grades start slipping, be aware of possible drug abuse. Other indicators include skipping school quitting extracurricular activities and loosing motivation. Often recollection of events isnt logical and social circles begin changing. Observe and interact with your child to note changes in behavior, appearance, personal habits, health and school work over time. Should you need more information on detecting signs of drug use or if you have information pertaining to any crime, contact the police at 919 or Crime Stoppers at 328tips (New Providence 300-8476 (Family Island or if you know of individuals who may need counselling and emotional support, contact the Department of Social Services hotline at 322-2763. ROYAL BAHAMAS POLICE FORCE NATIONAL CRIME PREVENTION OFFICE DRUG AWARENESS, A PARENTS REFERENCE GUIDE THE TRIBUNE MONDAY, OCTOBER 24, 2011, PAGE 11 Scotiabank (Bahamasis seeking the services of a Senior Manager, Credit Solutions Corporate & Commercial Banking CentrePosition Summary:The Senior Manager,Credit Solutions is responsible for contributing to the protable growth and quality o f the Banks Commercial Credit portfolio by performing nancial solutions -related activities for clients including risk analysis, deal structuring, pricing, negotiation and presentation on highly complex deals.The Sr. Manager Credit Solutions is also responsible for all deal structuring, negotiation and nal decisions on pricing within his/her dened portfolio.The incumbent interfaces directly with clients at times.As well, the Sr. Manager Credit Solutions liaises with Global Risk Management (GRM making process.Key Accountabilities for this Role: the effective and timely implementation of same. Manual.Educational Requirements: equivalency. Other training requirements as determined by the Bank from time to time.The Senior Credit Solutions Manager must also have an in-depth knowledge of the Banks lending policies, practices and procedures, as well as an awareness of business trends economic, technological, social, legal and political conditions and factors which could affect the viability of a credit.A solid knowledge and understanding of nancial statements and accounting principles and policies is a must.Because of large volumes and tight time frames, the incumbent must possess effective communication skills, both written and oral. In the administration of credit, complex loan documentation and security provision requirements must be understood and applied. Functional Competencies: The Scotiabank Group is an equal opportunity employer and welcomes applications from all interested parties.We thank you for your interest, however, only those candidates selected for an interview will be contacted. 6SHFLDOW\,WDOLDQ&KHI 7KH KHUDWRQDVVDX%HDFKHVRUWt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t$ELOLWLHV XVWEHDEOHWRVSHDNUHDGZULWHDQGXQGHUVWDQG(QJOLVKDQGXVHLWWR IDFLOLWDWHWKHFRPPXQLFDWLRQSURFHVV 0XVWSRVVHVVFRPSXWHUVNLOOV $ELOLW\WRDQDO\]HIRUHFDVWGDWDDQGPDNHMXGJPHQWVWRHQVXUHSURSHUSD\UROO DQGSURGXFWLRQFRQWURO $ELOLW\WRVXSHUYLVHODUJHVWDIIDQGDFFRPSOLVKJRDOVRQDWLPHO\EDVLV $ELOLW\WRFRQGXFWPHHWLQJVPHQXEULHQJVDQGPDLQWDLQFRPPXQLFDWLRQ OLQHVEHWZHHQOLQHVWDIIDQG([HFXWLYH&KHI 4XDOLFDWLRQVt([SHULHQFH +LJKFKRRORUHTXLYDOHQWHGXFDWLRQUHTXLUHG%DFKHORUV'HJUHHSUHIHUUHG LQLPXPRIWR\HDUVH[SHULHQFHDVD&KHILQDKLJKHQGKLJKTXDOLW\ ,WDOLDQHVWDXUDQW 4XDOLHGDSSOLFDQWVDUHLQYLWHGWRDSSO\DW ZZZVKHUDWRQMREV 1RWH$OOLQIRUPDWLRQZLOOEHKHOGLQVWULFWHVWRIFRQGHQFH 5HVXPHVVKRXOGEHUHFHLYHGRQRUEHIRUHRYHPEHU WHAT ARE THE SIGNS THAT YOUR CHILD MAY BE USING DRUGS?
LOCAL NEWS PAGE 12, MONDAY, OCTOBER 24, 2011 THE TRIBUNE OFFICERS of the Tourism Police Unit arrested two men allegedly responsible for an armed robbery at Shirley and Charlotte Streets. According to police, the incident occurred around 4:35pm yesterday. I nitial police reports indicate that a man was in the process of making a depositat the Bank of the Bahamas when he was approached bytwo men one of whom was allegedly armed with ah andgun. I t is reported that the cul prits robbed the man of a deposit bag containing an undisclosed amount of cash and fled the area on foot. Quick response by officers of the Tourism Police Unit resulted in a chase on foot and the culprits being arrested in the area of Peck Slope and Market Street. A ccording to a police report last night, officers retrieved from the culprits, both 19 years of age, a handgun with a quantity of ammunition and the deposit bag, containing an undis-c losed amount of cash. A ctive police investiga tions continue. TOURISM POLICE ARREST ARMED ROBBERS GETTING INTO THE FESTIVAL SPIRIT GETTING INTO THE FESTIVAL SPIRIT THE BAHAMAS ALL-STARS entertain the crowd at the International Cultural Festival in Nassau on Saturday Photos: Felip Major /Tribune Staff CROWDSflocked to the 16th annual International Cultural Festival at the weekend. The festival, held at the Botanical Gardens, featured food and cultural exhibitions from more than 30 countries, ranging from Caribbean nation such as Haiti and Cuba to European countries such as Spain and France, and ranging as far as the Philippines and China. Whether it was Mexican food or Scottish whiskey they were looking for, visitors packed the gardens. Each of the different nations offered performances of music and dance on the main stage as well, while the Bahamas All-Stars band wowed the crowd with their display. This year, the ICF wel comed the Bahama Out Island Promotion Board as sponsor, while the Bank of the Bahamas was the official bank of the festival and provided festival dollars for the event. The fetival was also able to make presentations to several organisations including a donation of $3,000 to the Zonta Club of Nassau, $4,000 to Rotary, and $10,000 to the Bahamas National Trust. Several charities also participated this year, including the Ranfurly Home, Zonta, Omega Psi Phi and the Rotary Club. Cuba was named as the winner of the best stall contest. M ore pictures on p a g e s 13 and 14 A YOUNGSTER enjoys the play area at the festival VISITORS queue for the food on offer at the festival ONEOF the displays to entertain the crowd A CHEF at the Sri Lanka stall TWO VISITORS browse one of the stalls POLICEARRESTone of the men suspected of committing an armed robbery at Shirley and Charlotte Streets yesterday afternoon Photos: Felip Major /Tribune Staff
THE TRIBUNE MONDAY, OCTOBER 24, 2011, PAGE 13 INTERNATIONALCULTURALFESTIVAL FROMKILTS to dreadlocks, the crowd had all kinds of influences ENGLISHBEERS were one of the draws in the European tents ENJOYING THE DAY are younsters at the play area TIME FOR shopping at the Cuba stalls MIXINGUP cocktails at the Mexico stand ACHEF keeps customers happy at the festival CUBANCIGARS are expertly rolled at the Cuba stand, which was named as the best stand at the International Cultural Festival
LOCAL NEWS PAGE 14, MONDAY, OCTOBER 24, 2011 THE TRIBUNE SINCE the birth of Las Vegas over sixty years ago, casinos were considered, during the earlier decades, a sufficient attraction to be the main draw for a resort or destination. This has been changing and continues to change atan accelerating pace. The main reason for this trend has been the proliferation of casino gambling throughout the world on land, sea, rivers and in cyber space. In the old days to find a casino, a gambler had to go to Las Vegas, Monte Carlo, Macau, Baden Baden, Havana, Nassau, a members club in London or some oth-er exotic place that permit ted casino gambling. Then slowly at first and later at an accelerating pace, casino gambling became more available as Atlantic City, many Caribbean islands, Asian countries, South African Homelands, Indian Reservations in the USA, cruise ships and many other locations too numerous to count changed their laws to permit it. How does this affect us here in the Bahamas? Simply put, the cruise passenger no longer needs to go to a Nassau casino if they want to gamble. The Florida resident who likes to gamble need only drive to Ft. Lauderdale. The residents of the North East of the USA just have to drive to Foxwoods or Atlantic city. In Asia, Macau is now the worlds leading and largest gambling destination. Singapore has joined the game. So the avid gamblers of that region dont have to go far to satisfy their desires. There are casinos all over Middle America and South America, so gamblers living there can satisfy their need for a flutter close to home and no matter where in the world you live you can gamble on line. So we in the Bahamas and more particularly Nassau and Freeport, will have to put more effort into developing and promoting our other attractions because gambling will be less of a draw than is was in years past. In addition to enhancing ourselves as a destination with new and exciting features and attractions, we have to ensure that we can deliver this attractive vacation experience at a competitive price. So the creative work in increasing the appeal of our islands has to be accompa nied by efforts to reducing the cost of delivering that vacation experience. It would be useful if the appropriate department of government and the busi ness community evaluated the cost of the inputs with a view to finding ways of becoming more efficient as an economy. This is something that most business operators do on a daily basis. However, it is not within the power of a business manager to reduce costs that are a result of the structure of the economy. That is the job of Government. The need for restructuring is urgent. V IEW FR OM A F AR J OHN I SSA CASINO TOURISM HAS CHANGED, SO MUST THE BAHAMAS CROWDS PACK CULTURAL FESTIVAL CROWDS PACK CULTURAL FESTIVAL CROWDS fill the Botanical Gardens for the International Cultural Festival at the weekend, which saw food, drink and performances from many nationsPhotos: Felip Major /Tribune Staff SERVICEWITHASMILE from some of the chefs at the event ALL KINDS of different foods were available at the event, from Caribbean recipes to Europe, US to China, South America to the Philippines THE STALLS were packed throughout the weekend as people made the most of the International Cultural Festival
By NEIL HARTNELL Tribune Business Editor DEVELOPING an Alternative Dispute Resolution (ADR system to tackle commercial con f licts is critical to the Bahamas competitiveness as an international business centre, a leading attorney warning that it was almost impossible for the courts to keep up with the volume of cases being filed. Emphasising that an arbitration-type structure would a ttempt to resolve disputes between Bahamas-based, as well as international, commercial players, Brian Moree, senior partner at McKinney, Bancroft & Hughes, said the findings of the annual Ease of Doing Business 2012 report were another pointer towards this nations need for ADR. The survey, published by the International Finance Corpora tion (IFC Bank, ranked the Bahamas a relatively poor 123rd out of 183 nations when it came to the ease of enforcing commercial contracts in this nation. Using as its benchmark the time, cost and number of procedures involved in resolving a hypothetical breach of sales contract dispute concerning two Bahamas-based entities, the IFC said report aimed to measure the judicial systems efficiency. $4. 68 $4. 51 $4. 69T he information contained is from a third p arty and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $5.09 $5.04 $5.03 T HETRIBUNE SECTIONB email@example.comMONDAY, OCTOBER 24, 2011 By NEIL HARTNELL Tribune Business Editor DESPITE29 per cent of its i nvestments failing to make t he grade, the $3.7 million Government-sponsored venture capital fund is now attracting the best of the best in Bahamian entrepreneurs, as it focuses increasingly on equity stakes and sec-o nd-round financing for its successes. Edward Rolle, administrator for the Bahamas Entre-p reneurial Venture Fund, told T ribune Business that the strategy of targeting quality, not quantity, was beginning to pay-off with proposals increasingly out of the box, and coming from mores ophisticated, higher level entrepreneurs. W hile between 10-16 of the funds investments in Bahamian start-ups had dropped off, Mr Rolle said the Fund still had a 40-strong portfolio and its roughly 50 per cents uccess rate stood up well against international stand ards for angel/venture capital investing. W hile declining to specify the amount, Mr Rolle said the Bahamas Entrepreneurial Venture Fund had received some of the $2 million capital injection it had been seeking back in May, enabling it tof und another three business proposals. The Fund is moving along and progressing, he told Tribune Business. Were getting some real good projects. Persons are now thinking out of the box with projects thatw e can recommend for fundi ng. Since its inception in 2005, t he Bahamas Entrepreneurial Venture Fund has financed some 56 Bahamian entrepreneurs and start-ups. Some 43 of those have received debt financing, and 13 have seen the Fund take equity stakesi n their actual business. Mr Rolle, who is also manager of the Baker Tilly Gomez accounting firms corporate department, told Tribune Business that of the $3.7 million invested by the Fund to-date, some $2.2 million has By NEIL HARTNELL T ribune Business E ditor T HEBahamas has been u rged to target the low h anging fruit to make c ommerce in this country easier, a private sector l eader calling for the cre ation of a one-stop shop for small business/entre-p reneurial regulatory n eeds and improved credit a ccess. Winston Rolle, the B ahamas Chamber of Commerce and Employers Confederation (BCCECc hairman, acknowledged t hat the Bahamas continued slippage in the Ease of Doing Business rankings, By NEIL HARTNELL Tribune Business Editor WOMENfor the first time account for the majority of New Providences labour force, a Department of Statistics report has revealed, other findings showing that the wealthiest Bahamas residents continue to get richer. The full 2011 Labour Force and Household Income survey released quietly by the Department last week, disclosed additional details not revealed by its initial findings report in August. These included indicators that longterm unemployment is becoming a serious problem, plus the fact that more than one in four Bahamian youth are now unemployed. The Department of Statistics data showed that women are accounting for an ever-increasing proportion of the Bahamian workforce, something that may again reignite debate about the disengagement of men, as one analyst B y NEIL HARTNELL T ribune Business Editor O PPONENTS of the $500 million Bakers Bay Golf & Ocean Club live to fight another day, their attorney dismissing arguments that continued opposition to the Aba-c o-based project is futile because a substantial portion is now constructed. DISPUTE SYSTEM CRITICAL F OR OUR COMPETITIVENESS Leading attorney pushes for ADR/ arbitr ation system Ranking 123 out of 183 nations in W orld Bank r epor t sho ws need for court system complement BRIANMOREE SEE page 6B TARGET LOW HANGING FRUIT TO AID BUSINESS Chamber chief urges onestop shop and better credit access for Bahamian entrepreneurs Says continued slippage in Ease of Doing Business rankings, this time three spots to 85th, a concern SEE page 7B BEST OF THE BEST FOR $3.7M VENTURE FUND Govt sponsored fund alters modus operandi to focus on equity stakes and top-notch projects Some 29% of investments fail, but 40 companies still in portfolio and enjoying 50% success rate Best-performers coming back for second finance rounds SEE page 7B BAKERS BAYS OPPONENTS LIVE TO FIGHT ANOTHER DAY C ase still of pivotal importance to Bahamas in developing jurisprudence for future development SEE page 4B F REDSMITH MORE WOMEN THAN MEN IN WORKFORCE Survey shows women account for 51% of New Providence labour force Richest 20% of Bahamians got wealthier during recession Over 50% of jobless unemployed for more than year SEE page 4B
BUSINESS PAGE 2B, MONDAY, OCTOBER 24, 2011 THE TRIBUNE CANADA DOES ALL TO RATIFY TAX DEAL By NATARIO McKENZIE Tribune Business Reporter firstname.lastname@example.org THE CANADIAN government has completed all procedures necessary to ratify the Tax Information Exchange Agreement (TIEA signed with the Bahamas last year, Sandra Slaats, a partner in Deloitte & Touche (Canadas national tax group has told Tribune Business. Mrs Slaats said: The Canadian government has completed all procedures necessary to ratify the TIEA. The TIEA will come into force once the two governments notify each other that the TIEA has been ratified. Since we understand from the Bahamas Financial Services Board that the Bahamas has also ratified the TIEA, we expect this to occur at any time. Mrs Slaats said the necessary Excise Tax amendments were passed in June, but the Order in Council a notice of an administrative decision issued by the Governor General of Canada was not executed until after the Canadian parliaments summer recess. The Excise Act and Excise Tax Act amendments were contained in Bill C-3, which received royal assent on June 26. Once the TIEA comes into force it will mean that Canadian corporations will be able to set up active businesses in the Bahamas and, once they meet certain standards and tests, take advantage of the special tax incentive. Mrs Slaats had previously explained: "What it will do is allow Canadian companies to set up a subsidiary with a business in the Bahamas, and the income from that business can be tax free not only in the Bahamas, but when it comes back to Canada in the form of dividends. Those dividends will no longer be taxed. The Bahamas-Canadian TIEA was signed in June 2010. The Bahamas' International Tax SEE page 3B
By NATARIO McKENZIE Tribune Business Reporter email@example.com A LEADING attorney has reiterated demands for the Bahamas to implement a proper land registration system, after the International Finance Corporations (IFC Doing Business 2012 report ranked the Bahamas in the bottom six of 183 nations over the transfer of property rights/title. After the Bahamas fell two spots from 2011s rankings to 177 out of 183 countries, former Bar Association president, Wayne Munroe said that may be because the Bahamas does not have a system for registering land, something he says the Bar Association has been calling for over two decades. Thats because we dont have a system of registered land. In many other countries you can go to a registry and find the entire history of a propertyfor instance, transactions as well as state of title. For the last two decades the Bar Association has been calling for a system of registered land, Mr Munroe said. However, he noted that it is as easy to register land in the Bahamas as anywhere else. When you think about it legally its a system of what you call unregistered land. That doesnt mean it is not registered; that means the registration is not according to property, you simply register deeds, Mr Munroe said. If you were to go to the Registrar Generals Department you couldnt go to them and say: Let me see what is the title situation with this piece of land. You would go and look at the name of persons who had purchased and sold it. A system of registered land, often called a torrens system, calls for you to register the title of land in accordance with the parcels of land so that you could go and ask what is the title situation with a piece of land. In registered land, before youre registered as the owner of land, the Registrar would make a determination as to whether youre entitled to be registered. Mr Munroe said a system of registered land would make it easier for lawyers to be certain of title to a particular piece of land immediately As is the case now, if I take my conveyance, the Treasury will take the money it costs to stamp it, the Registrar General will take the $3.50 per page to register it, and thats not assuring you of anything, Mr Munroe said. Bar Association president Ruth Bowe-Darville, while admitting that she had not seen the report, echoed Mr Munroes sentiments. We do need a proper system of land registration in the Bahamas, she said. There are other countries in the region that have land registration already and it is working. I am aware that the Government is making preparation towards promoting land registration. Attempts to obtain further information on these efforts from the Department of Lands and Surveys were not successful. The Bahamas decline, and position, in the Ease of Doing Business survey when it comes to registering and transferring propery rights appears to be related to the relatively high level of Stamp Duty imposed on real estate deals. The survey noted that the Bahamian government had made it harder to do business in this respect by increasing Stamp Duty for every tax bracket by two percentage points in the 2010-2011 Budget. Registering property [in the Bahamas] requires seven procedures, takes 122 days and costs 14.1 per cent of the property value, the report said. The 14.1 per cent appears to have been created lumping Stamp Duty in with legal fees of 2.5 per cent of the purchase price. On time and costs, the Bahamas was way above the Caribbean and Latin American average. BUSINESS T HE TRIBUNE MONDAY, OCTOBER 24, 2011, PAGE 3B ATTORNEYS CALL FOR LAND REGISTRATION Cooperation Act 2010 is the enabling legislation for the TIEAs this jurisdiction has signed. Mrs Slaats said many Canadian companies are looking to capitalise on the opportunity, and want to do business in the Bahamas. Barbados is a jurisdiction that has a double tax treaty with Canada, and therefore has been a place where Canadians have created foreign operations. The new TIEA between the Bahamas and Canada will put the Bahamas on an equal footing with Barbados with respect to tax incentives. Raymond Winder, the Bahamas lead World Trade Organisation (WTO Deloitte &n Touche (Bahamas ner, previously told Tribune Business the TIEA signed with Canada will "have just as much or g reater impact" on the Bahamas than the trade agreement being negotiated with that country on our behalf. "The Government just signed a TIEA agreement with Canada which is going to have a far greater impact on trade and the likelihood of attracting investment into the Bahamas," MrW inder told Tribune Business. "The tax agreement is likely to have just as much, or greater impact, because of the incentives embedded in the agreement between the Bahamas and Canada. We're likely to find our selves being just as competitive in attracting Canadian business, which primarily in the past went to Barbados. We're in a position to get that share of those investment dollars." W AYNEMUNROE FROM page 2B CANADA DOES ALL TO RATIFY TAX DEAL Demand comes after B ahamas ranked 177th out of 183 nations for ease of property registration
Informing Tribune Business that the Court of Appeal had extended the time, and givent he Save Guana Cay Reef A ssociation leave to appeal a Supreme Court ruling striking out a second action it had brought against the Government and developers, Discovery Land Company, FredS mith QC said the continuing l egal battle was critical to creating jurisprudence in local community rights when major developments came their way. Explaining the background t o the latest legal developm ent, the Callenders & Co p artner said the second Judicial Review challenge to Bakers Bay was aiming to set aside all the government permits and approvals the devel-o pers had received. T hose permits, he explained, were all disclosed to the Association in May 2007 as a result of the first Judicial Review action, some dating back to 2005. The Associations second Judicial Review action wasl aunched in September 2009, w ith the developers and the Government immediately applying to set aside the leave g ranted by the Supreme Court t o bring the case on the grounds it had not been brought within six months of the permits in question being granted. D espite the Association a rguing that this was absurd, a s it had know way of knowing the permits existed until they were disclosed, the Associations action was struck out by the Supreme Court. It alsof ailed to obtain the courts l eave to appeal, and failed to file its appeal on time, having mistakenly thought the Supreme Courts judgment was final, and not interlocutory. H owever, Mr Smith said he w as last week able to argue successfully before the Court of Appeal that in the interests of justice it should give leave to extend the Associat ions time to file and allow t he appeal to be heard. He argued that the battle o ver Bakers Bay was a public interest case, and would set legal precedent and jurisprudence on issues in the Bahamas such as local g overnment, public and envir onmental rights, and Judicial Review. At its heart, the case raised issues of consultation and whether communities have ar ight to be heard before develo pment occurs on their i slands. The Court of Appeal ruled in the Associations favour, and gave it leave to appeal the Supreme Courts ruling striking out its JudicialR eview challenge to Bakers B ays permits. Asked by Tribune Business whether the Associations fight was now futile, given the construction progress made by Discovery Land Companya nd its real estate buyers, Mr S mith said: No. Even the developers said this is a 10year project, and with the recession its probably a 15year project. Its not a permit for one i tem. Its a continuum. The developers, he added, would continually have to seek all manner of government approvals and permits, relat-i ng to issues such as golf c ourse and environmental m anagement, water and sewerage, not to mention construction permits required by both Discovery Land Company and their home buyeri nvestors. All these things are part of a continuum, and to the extent that permits need to be applied for or any application is made which affects local rights, which affects the envi-r onment, then the residents [ of Guana Cay] continue to maintain they have a right to be consulted, as the Privy Council, the Court of Appeal and the Supreme Court found i n Guana Cay case number o ne, Mr Smith said. This is all about the right to be heard. Those who criticise the Associations continuation of the case; we say thats mis-g uided. There are still many p ermits that require regulator y oversight and decisionmaking. Give us an opportunity to be heard. There is nothing worse than being shut out of the developmentp rocess. M r Smith added that it was perverse to think the Association and its members want to stop the entire project. Its half built as it is. This case remains of pivo tal importance to the B ahamas in establishing jurisprudence that will guide future governments and developers on the development process, in the context of environmental and local community rights, Mr Smith said. I t was especially needed in the Bahamas, given the leve l of real estate and resortrelated development that was ongoing, the Associations attorney added, together with the absence of an Environ-m ental Protection Act. We have created hundreds o f white elephants in many parts of the Bahamas, Mr Smith told Tribune Business. The Bahamas is strewn with developments that were going to be fantastic and never hap-p ened. We have always fought against the Governments local anchor projects. Mr Smith conceded that with Bakers Bay having gone ahead, the Associations mem-b ers and supporters had declined in number, but the core group remained BUSINESS PAGE 4B, MONDAY, OCTOBER 24, 2011 THE TRIBUNE 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.190.97AML Foods Limited1.181.180.000.1480.0408.03.39% 10.639.05Bahamas Property Fund10.6310.630.00-0.6420.080-16.6 0.75% 7.504.40Bank of Bahamas6.936.930.000.2300.10030.11.44%0 .530.17Benchmark0.180.180.00-0.0480.000N/M0.00% 2 .842.55Bahamas Waste2.702.700.000.0300.09090.03.33% 1.961.77Fidelity Bank1.771.770.000.0970.04018.22.26% 11.108.29Cable Bahamas8.468.460.000.2450.32034.53.78%2 .802.33Colina Holdings2.602.600.000.4380.0405.91.54% 8.508.33Commonwealth Brewery8.508.500.000.7400.00011.50.00% 7.006.21Commonwealth Bank (S1 6.556.550.000.4960.32013.24.89% 2.001.63Consolidated Water BDRs1.881.910.030.1110.04517.22.36% 1.771.31Doctor's Hospital1.371.370.000.0740.04018.52.92% 5.504.75Famguard5.435.430.000.4980.24010.94.42% 8.105.35Finco5.355.350.000.7570.0007.10.00% 9.457.75FirstCaribbean Bank8.148.140.000.4940.35016.54.30% 6 .005.00Focol (S 5.335.330.000.4350.22012.34.13% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7.305.58ICD Utilities7.307.300.00-0.1220.240-59.8 3.29% 10.809.80J. S. Johnson9.829.820.000.8800.64011.26.52% 10.0010.00Premier Real Estate10.0010.000.001.2070.2008.32.00% 5 2wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 1 00.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 1 00.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 1 00.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00FINDEX: YEAR END 2008 -12.31%30 May 2013 20 November 2029 7% RoyalFidelityMerchantBank&TrustLtd(Over-The-CounterSecurities) 2 9 May 2015B ISX LISTED & TRADED SECURITIES AS OF:7 % I nterest 1 9 October 2022 P rime + 1.75% P rime + 1.75% 6.95%T HURSDAY, 20 OCTOBER 2011BISX ALL SHARE INDEX: CLOSE 1,367.68 | CHG 0.03 | %CHG 0.00 | YTD -131.83 | YTD % -8.79BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)M aturity 1 9 October 2017 W WW.BISXBAHAMAS.COM | TELEPHONE: 242-677-BISX (2479) | FACSIMILE: 242-323-2320 52wk-Hi52wk-LowSymbolBid $ A sk $Last PriceDaily Vol.EPS $Div $P/EYield 10.065.01Bahamas SupermarketsN/AN/A14.00-2.9450.000N/M0.00% 0 .550.40RND Holdings0.350.400.550.0010.000256.60.00% 4 1.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.650.750.400.0290.00024.130.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.57791.4674CFAL Bond Fund1.5779263.39%5.87%1.548717 3 .02482.9020CFAL MSI Preferred Fund3.02482.63%3.94%2.981382 1 .61281.5289CFAL Money Market Fund1.61512.61%4.53%1.591803 2.72022.5398Royal Fidelity Bahamas G & I Fund2.5730-5.41%-9.79% 13.849313.2291Royal Fidelity Prime Income Fund13.73472.82%1.94%1 14.128999.4177CFAL Global Bond Fund114.09222.35%13.88%114.128861 1 18.4255101.6693CFAL Global Equity Fund118.42552.30%8.26%116.580785 1.17491.0000FG Financial Preferred Income Fund1.18773.59%4.94% 1.13431.0000FG Financial Growth Fund1.14152.06%4.07% 1.17641.0000FG Financial Diversified Fund1.18903.47%5.04% 9.9952 9.5078R oyal Fidelity Bah Int'l Investment Fund Principal P rotected TIGRS, Series 19.94330.98%4.58% 1 1.49859.8690Royal Fidelity Bah Int'l Investment Fund Principal P rotected TIGRS, Series 210.96520.78%5.70% 10.68139.7396R oyal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 310.60135.75%13.20% 8.85647.8830Royal Fidelity Int'l Fund Equities Sub Fund8.65073.01%18.38% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00 YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeks Bid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior week Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded today NAV Net Asset Value DIV $ Dividends per share paid in the last 12 months N/M Not Meaningful P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200731-Jul-11 31-Jul-11 31-Jul-11TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752531-Jul-11 30-Jun-11 3 1-Jul-11 5 -Aug-11 30-Jun-11MARKET TERMS30-Sep-11 31-Jul-11 RoyalFidelity Merchant Bank & Trust Ltd (Over-The-Counter Securities) CFAL Securities Ltd. (Over-The-Counter Securities) BISX Listed Mutual Funds30-Jun-11 30-Sep-11 NAV 6MTH 1.535365 2 .952663 1.580804 1 11.469744 1 15.762221 N AV Date 3 1-May-11 3 0-Sep-11 6$8/'(/9$RI0$56+ +$5%285$%$&2%$+$0$6 )('1(5679,&725RI &RZSHQ5RDG31DVVDX%DKDPDV put it, from the education system and working world. While the total Bahamian labour force grew by 3.3 per cent between 2009 and 2011, rising from 184,020 to 190,075, the survey found that women were the main contributors to this increase, accounting for 78 per cent of the 6,055 person increase. The number of women in the Bahamian labour force increased by 5.3 per cent over the two-year period, with the number of men rising just by 1.4 per cent. The participation rate for women held steady, but that of males fell by 2.3 percentage points, the Department of Statistics report said. More tellingly, it added: In New Providence in 2011, the labour force grew by 2.8 per cent, while in Grand Bahama there wasa decline of 2 per cent. Of particular interest is the fact that in New Providence, for the first time, the number of females in the labour force exceeded that of males, accounting for 51 per cent of the total. There were also more employed women than there were men. This, though, was not the case in Grand Bahama. The number of women in the employed labour force rose by 5.6 per cent, the report revealed, compared to 2.4 per cent for men. Employment in the informal sector seemed more accessible for women, as their numbers increased by 65 per cent compared to a much lower increase, 20 per cent, expe rienced by their male counterparts, the Department of Statistics said. Informal activities tend to be concentrated in the retail industry, a sub-group of the wholesale and retail industry that grew by more than any other industry over the period, increasing its numbers by 16 per cent. In contrast, industries which tend to be dominated by males such as construction experienced a decline of 18 per cent. Income inequality between the sexes, though, remains. The Department of Sta t istics report showed average Bahamian household income as remaining static, growing by less than 1 per cent between 2009 and 2011, from $38,314 to $38,512. The average household income for households headed by women, $31,109, continued to be lower than that of households headed by men, $43,147, the Department of Statistics report said. In other words, for every $1 earned by households headed by men, households headed by women earned only 72 cents. Households headed by women accounted for one-third of the total aggregate household income in 2011. The Departments report also showed that during the height of the recession, the richest 20 per cent of Bahamian society saw its share of total national income increase slightly, while the other 80 per cent saw their share decline. This indicates increasing income inequality in Bahamian society, with the brunt of the recession and increased unemployment/declining incomes falling on the middle class and poorer segments. The report showed that the national income share enjoyed by the wealthiest 20 per cent of Bahamian families rose from 46.7 per cent in 2009 to 47.5 per cent in 2011. Elsewhere, it declined. The bottom 20 p er cent of Bahamian families saw their share of national net income fall from 3.3 per cent to 2.9 per cent. Dividing Bahamian society into five wealth segments, the Department of Statistics report showed that the lowest 80 per cent all suffered falls in their share of national income. The greatest fall was suffered by those households in the 41-60 per cent tranche, or middle class, which saw their share drop from 16.1 per cent in 2009 to 15.1 per cent in 2011. The middle class squeeze is on. The report showed that long-term unemployment was also becoming a problem, with 52 per cent of the jobless unemployed for 12 months. Some 51 per cent of New Providences unemployed, and 57 per cent of the jobless in Grand Bahama, were in this category. FROM page one MORE WOMEN THAN MEN IN WORKFORCE FROM page one BAKERS BAYS OPPONENTS LIVE TO FIGHT ANOTHER DAY
BUSINESS T HE TRIBUNE MONDAY, OCTOBER 24, 2011, PAGE 5B t MEMBERSof the Blue Ribbon Panel met last week to r eview the list of finaslists in various categories for this years Financial Services Industry Excellence Awards, hosted by the Bahamas Financial Services Board ( BFSB). Recipients in the Achiever of the Year, Professional of t he Year and Mentor of the Year categories are to be announced at the 11th annual Excellence Awards Gala Dinner on November 11. A t the same time, the Student of the Year will be announced. Already announced are the Lifetime Achievement A wardee, with the Executive of the Year and the Devel opment & Promotion recipient to be announced later this week. They, too, will receive their awards at the upcoming d inner. Share your news The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won ana ward. If so, call us on 322-1986 and share your story. PICTURED L TO R are John Lawrence, Metropolitan Bank (Bahamas Margaret Butler, Citi; and Winston Rolle, chairman and chief executive of the Bahamas Chamber of Commerce & Employers Confederation. PANEL REVIEWS AWARD FINALISTS Gala Dinner set for November 11
Enforcing a contract requires 49 procedures, takes 427 days a nd costs 28.9 per cent of the value of the claim, the IFC/World Bank report said. While this nation placed well ahead of St Lucia, Grenada and Dominica, it was behind regional competitors such as Antigua and Barbuda and St Vincent, which placed 70th and 101st r espectively. The Bahamas dropped three places when it came to the ease of enforcing commercial contracts, from 120th in the 2011 version to 123rd now, although nothing had changed year-overyear when it came to the three measurement yardsticks. Indeed, the 427 days taken by Bahamian courts to resolve commercial disputes were better than both the 707.78 day average for the Latin American and Caribbean region, and the 518.03 day average in the OECD nations. The Ease of Doing Business report broke the time down into seven days to file and servea case; 240 days for trial and judgment; and 180 days to enforce the judgment. As for contract enforcement costs averaging almost 29 per cent of the disputed agreements amount, some 18 percentage points comprised attorney costs. A further 2.9 percentage points represented court costs, and the 8 percentage point balance was enforcement costs. Again, commercial contract enforcement costs in the Bahamas were said by the report to be better than the Latin American and Caribbean average, which stood at 31.21 per cent of the contracts total worth. The Bahamas was, though, significantly higher than the OECD average of 19.71 per cent. Where this nation appeared to fall down was on the numerous procedures involved in commercial contract enforcement. The Ease of Doing Business report said that based on the Bahamas civil procedure codes and regulations, plus surveys of local attorneys, this nation had 49 procedures far more than the Latin American/Caribbean and OECD averages of 40.03 and 31.42, respectively. In response, Mr Moree told Tribune Business that the Bahamas was far from being the only nation whose court system was failing to keep pace with the ever-increasing volume of filed commercial disputes. Judicial systems in the major industrialised nations, he added, suffered from exactly the same problem despite being given ever-increasing resources. In every country in the world, litigation is a very time consuming and costly exercise, Mr Moree said. Unfortunately, that is an integral part of resolving a dispute through court procedures. In some countries, including the highly developed countries, the court system is very challenged in handling the large volume of cases that come through the system on an annual basis. Court systems, generally speaking, are not the most efficient way of resolving commercial disputes, simply because of the limitations all countries have in committing resources to the administration of justice. No matter how big the country is, and how many resources are allocated to the court system, it seems to never be enough to keep up with the cases being filed. While the Ease of Doing Business report was merely another indicator, Mr Moree said that to boost its competitiveness against rival international business centres, the Bahamas needed an ADR/arbitration system to complement the courts. Investors and companies conducting international business were looking for other ways to resolve disputes and take pressure off the court system, Mr Moree said. That is why commercial people, and parties in disputes more often than not are looking at ADR, arbitration and conciliation as ways to resolve disputes that are more economic, more efficient and less time consuming. Thats why the development of some ADR system is so critical for the Bahamas to complement our court system, not only as an international centre for resolution of disputes, but to provide alternative means of settling disputes between local parties. The Bahamas has long-targeted the establishment of an arbitration centre as an area for financial services-related growth, with the Bahamas Financial Services Board (BFSB collaborating with the Bahamas Maritime Authority (BMA others in searching for physical premises for the institution. Wendy Warren, the BFSBs chief executive, said the Bahamas was seeking to establish a niche for itself as an ADR centre for trust and maritime-related disputes. Steps have also been undertaken to provide the human capital foundations, the Bahamas now possessing a Chartered Institute of Arbitrators branch with some 35 members. The big macroeconomic point here comes back to this, Mr Moree told Tribune Business. The Bahamas is engaged in a business that is highly competitive. We are a commercial business centre. That is a very competitive arena with other jurisdictions, and consequently we have to continue to refine and modernise our systems, processes and institutions in order to maintain the Bahamas as an attractive option for high level commercial activity. This is an imperative that is essential if were going to be successful as a business centre going forward, because many other countries are looking for the same business. And Mr Moree added: Things like our cost base, capacity to resolve disputes, efficiency of the court system, ability to enforce judgments and arbitration capability, all those things become very important in the context of international business. You have to have confidence that if you get involved in commercial business in the Bahamas, these disputes can be resolved in a timeframe acceptable by international standards, and at a cost comparable with other jurisdictions. BUSINESS PAGE 6B, MONDAY, OCTOBER 24, 2011 THE TRIBUNE CONDO FOR SALE St. Albans Drive off West Bay St.Beautiful 3 storey town house, 2 bed, 2 1/2 bath in private gated property, swimming pool, nished to y our taste with stainless steel appliances, beautiful ooring.Priced From $225,000.00 T el: 325-1325 | 422-4489 1 2 7 & ( $ 7+(16&25325$7,21/,0,7(' &UHGLWRUVKDYLQJGHEWVRUFODLPVDJDLQVWWKH DERYHQDPHG&RPSDQ\DUHUHTXLUHGWRVHQG SDUWLFXODUVWKHUHRIWRWKHXQGHUVLJQHGFR %R[DVVDX%DKDPDVRQRUEHIRUH WK GD\RIRYHPEHU WKHUHRIWKH\ZLOOEHH[FOXGHGIURPWKHEHQH RIDQ\GLVWULEXWLRQPDGHE\WKH/LTXLGDWRU 'DWHGWKHWKGD\RIFWREHU .LUY\)HUJXVRQ /LTXLGDWRU 6KLUOH\+RXVH KLUOH\WUHHW 1DVVDX%DKDPDV 1 2 7 & ( $7+(16&25325$7,21/,0,7(' 1 2 7 & ( ,6 +(5(%<*,9(1DVIROORZV Df $ 7+(16&25325$7,21/,0,7(' L V LQ G LVVROXWLRQXQGHUWKHSURYLVLRQVRIWKH,QWHUQDWLRQDO % XVLQHVV&RPSDQLHV 7KHGLVVROXWLRQRIWKHVDLG&RPSDQ\ FRPPHQFHGRQWKHWKGD\RIFWREHU LWV$UWLFOHVRI'LVVROXWLRQZHUHVXEPLWWHGWRDQG UHJLVWHUHGE\WKHHJLVWUDU*HQHUDO Ff 7 KH/LTXLGDWRURIWKHVDLG&RPSDQ\LV LUY\)HUJXVRQ R I 6KLUOH\+RXVHKLUOH\ 6WUHHWDVVDX%DKDPDV DWHGWKHWKGD\RIFWREHU +$55<%$1'6/2%26.<$1$*(0(17&2/7' $WWRUQH\VIRUWKHDERYHQDPHG&RPSDQ\ ( ;;2102%,//,%<$+25(,57(f/,0,7(' f 127,&( 3 XUVXDQWWRWKHSURYLVLRQVRI6HFWLRQRIWKH ,QWHUQDWLRQDO%XVLQHVV&RPSDQLHV$FWQRWLFH LVKHUHE\JLYHQWKDWWKHDERYHQDPHG&RPSDQ\ KDVEHHQGLVVROYHGDQGVWUXFNRIWKH5HJLVWHU SXUVXDQWWR&HUWLFDWHRI'LVVROXWLRQLVVXHG 7KH5HJLVWUDU*HQHUDORQWKH WK GD\RI$XJXVW 'DWHGWKHWKGD\RIFWREHU & DURO**UD\ / LTXLGDWRURI (;;2102%,//,%<$+25(,57(f /,0,7(' FROM page one DISPUTE SYSTEM CRITICAL FOR OUR COMPETITIVENESS
a trend that this year saw it fall another three places to 85th spot out of 183 nations,w as concern. W hile agreeing with minister of state for finance, Zhivargo Laing, that the Government had moved to make the conduct of business in the Bahamas easiert hrough enacting the o mnibus Business Licence reforms, and initiatives such as e-government, Mr Rolle said these were still in their relative infancy and too earl y to make an impact. T he E ase of Doing Busin ess report 2012 produced by the International Finance Corporation (IFCof the World Bank, noted that the Bahamas hads lipped in most major categ ories it assessed, seemingly because other nations were making reforms to improve their standing and bypassing this country, whichwas sticking with the status q uo. For example, when it came to Starting a Business, the Bahamas slipped from 65th position in 2011 to 73rd in 2012, despite improving in one category that deter-m ined this ranking. The Ease of Doing Business Report detailed that the cost of starting a business in the Bahamas, as a percent-a ge of per capita income, fell year-over-year from 9.1 per c ent to 8.7 per cent. The number of procedures, and days, involved in getting into business remained the same at seven and 31, respectively. Y et despite faring better t han the Latin American and Caribbean average for starting a business, the Bahamas ranked was sill behind many regional peers, such as Dominica, St Lucia, St Vincent, St Kitts and Grenada. N oting that the ease of doing business had been a k ey focus at the recent Western Hemisphere Competitiveness Forum he had attended, Mr Rolle told Tribune Business of the reports findings: The fact were slipping is a concern. The challenge is to see where we are, where we need to be and what steps we need to take over the next few years. If we justt ake a look at the parameters theyre looking at, its a ll things we need to be looking at. Expressing hope that several issues raised in the report will be addressed byr ecent Ingraham administrat ion initiatives, Mr Rolle said the proposed Small and Medium-Sized Business Development legislation, which the Chamber is working on with the Government, would act as a catalyst forf urther improvement. It aimed to create a ones top shop for small businesses and entrepreneurs when it came to their licensing and permitting needs, plus take them through all the processes they needed to go through and providea ccess to business support services. Besides cutting through regulatory red tape, Mr Rolle said another key focuss hould be the access small businesses and entrepreneurs e njoyed to credit and other debt financing instruments. That is a major impediment to business right now, he told Tribune Business. Im not putting it all on the f inancial institutions. A lot of Bahamians do not have the proper wherewithal to start a business, and need to adequately capitalise a business. Where a fair amount of i t falls on financial institutions, a fair amount is to do w ith entrepreneurs who have unrealistic expectations as w ell. Mr Rolle added: In terms of getting started, a one-stop shop is key for anyone starting a business. It would sup-p ly them with a number of r esources. I think thats one of the major challenges we have. Were not short on creativity and people wanting to do things; its having the resources to quicken themt hrough the process to help them achieve what they want to achieve. Thats one aspect of it. The other aspect of it is credit access to financial resources. That is criticallyi mportant for persons wanting to start a business. I think those two would have a significant impact on doing business in this count ry as a start, and I think we need a concerted and collabo rative effort to recognise that. Describing easier credit access and the one-stop shop proposition as thel ow hanging fruit, Mr Rolle s aid implementing them was not easy, but easier than other things that we need to put in place. The Bahamas fared better than its overall average when it came to assessinge ase of getting credit, ranking 78th out of 183, although that was again three spots below its ranking of a year before. Then Ease of Doing Business report determined its ratings based on crediti nformation availability, and the legal rights of borrowers and lenders when it came to collateral and bankruptcy laws. been in the form of debt and $1.4 million as equity. G oing forward, though, the f inancing mix is likely to shift in favour of the latter, Mr Rolle indicating that theB oard seats equity investments provided enabled the F und to exert more influence a nd advice over a start-ups i nitial direction, and give it better access to business sup port services, such as account i ng and legal providers. The strategy is more getting into equity rather than debt, and looking at the best o f the best, Mr Rolle told Tribune Business, adding that the Fund appeared to have got over the hurdle of per sons bringing it poorly thought-out business plans, ors ubmitting proposals for already-saturated sectors. With the emphasis on qual ity, Mr Rolle said the rate at w hich business plans were submitted to the Bahamas Entrepreneurial Venture F und had slowed quite a bit, down from the initially huge 20-40 a month toa bout five currently. W hile some entrepreneurs might be running out of ideas, among the Funds most recent investments have been a liquid oxygen/propane energy business, plus something in the medical field. Right now, were getting a higher level of projects coming across the desk, MrR olle said, from the more sophisticated, higher level entrepreneur. We looked at a b rilliant one yesterday. A s a result, the Fund had seen a huge improvement in how the entrepreneurs itf inanced ran and managed their business, and in how they dealt with key issues such as cash flow. Basically, the ones com ing now are behaving like businesspersons, Mr Rolle t old Tribune Business. I think maybe were getting the more educated persons,t he more sophisticated pers ons stepping forward now who want to venture out on their own. T he Fund was currently reviewing 10 business proposals before it, but it was now harder to get an approval. The Fund has been around for six years, and the modus operandi has changed i n how bad projects slip in, which does not happen now. When it came to equity investments, the Bahamas Entrepreneurial Venture Fund looked for a five-year stake of no higher than 35 per cent. Its Government-i mposed financing limits are a maximum of $200,000 for every equity investment, and$ 100,000 for debt financing. When you look at angel funding or venture capital i nvesting theres a risk youre t aking, Mr Rolle told Tribune Business. If you have 50 per cent success, youred oing well, and were still around that. A lot of the companies weve funded have turnedt he corner, and are seeing profits. From 2005 until now, thats cycle when companies s hould turn the corner and turn a profit. Were seeing that. Within the next six m onths well see quite a few of the companies we have equity funding in really turn-i ng the corner and coming for a second round of funding. M r Rolle said the Bahamas Entrepreneurial Venture Fund had tried to really go after start-up proposals likel y to hire employees, adding that the companies it had invested in should have created jobs in the hundrerds. Its worked out well, he said of the Funds performance. We provide an avenue for small to medium-s ized businesses to get up and running when most banks are reluctant to take the risk. Itsa n important avenue for that person who wants to get started without too many b arriers and costs. If youre t rying to go through the banks, its more of a headache. The Funds going to become ever-more important. Well move more per sons up into the middle class, a nd the middle classes the driving force in every society. BUSINESS T HE TRIBUNE MONDAY, OCTOBER 24, 2011, PAGE 7B (PSOR\PHQWSSRUWXQLW\ S \ SS \ 5(67$85$17$1$*(56(('(')25 /($',1*$67)22')5$1&+,6( 5(48,5(0(176 0XVWKDYHDWOHDVWWZRf\HDUVRI UHVWDXUDQWPDQDJHPHQWRUIRRGtEHYHUDJH PDQDJHPHQWH[SHULHQFH 0XVWKDYHVWURQJOHDGHUVKLSVNLOOV 0XVWEHFXVWRPHUVHUYLFHGULYHQ 0XVWEHUHVXOWVRULHQWHGtDUWLFXODWH 0XVWKDYHH[FHOOHQWLQWHUSHUVRQDOVNLOOV 0XVWKDYHH[FHOOHQWRUDOtZULWWHQ FRPPXQLFDWLRQVNLOOV 0F'RQDOGVRIIHUVH[FHOOHQWEHQHWV 3OHDVHVXEPLWHVXPHWR +XPDQHVRXUFHV'HSDUWPHQW 0F'RQDOGV+HDGIFHRQDUNHWWRUWK 3 7 1DVVDX%DKDPDV KXPDQUHVRXUFHVOWG#GDQEUDGOWGFRP FROM page one BEST OF THE BEST FOR $3.7M VENTURE FUND FROM page one TARGET LOW HANGING FRUIT TO AID BUSINESS
BRUSSELS Associated Press Greece's prime minister pleaded Sunday for a comprehensive solution to the European debt crisis that has swallowed his country and is threatening to suck in larg er economies, but the continent's leaders warned the world may have to wait a few more days. The search for a comprehensive solution to its escalating debt troubles has divided the continent. Increasingly it is pitting not only the poorer countries in the euro zone against their richer neighbors that are tired of bailing them out, but also sparking anger from governments outside the 17-state currency union, who fear being dragged into the mess. "The crisis in the eurozone is having a chilling effect on all our economies, Britain included. ...We have to deal with this issue," British Prime Minister David Cameron said on his way into the meeting of the 27-country EU. Britain does not use the euro. Later in the day, the leaders of coun tries the 17 that use the euro willm eet on their own. Cameron's eurozone counter parts, meanwhile, tried to lower expectations for Sunday's meetings, saying the real decisions will be made Wednesday at another emergency summit. "Let's put the expectations in context: Don't count on decisions today," German Chancellor Angela Merkel said. Leaders are in the difficult position of not being able to decide on anything until everything is in place, since each piece of the crisis puzzle affects the others. The biggest sticking point is how to most effectively use Europe's bailout fund to make sure Italy and Spain don't see their borrowing costs spiral out of control as happened with Greece, Portugal and Ireland. Europe doesn't have enough money to rescue Italy and Spain as it did the other three countries; analysts say it must act now to eliminate the possibility of their collapse. Disagreements between Merkel and French President Nicolas Sarkozy over how to use the bailout fund, which is called the European Financial Stability Facility, are largely responsible for the delay. France wants the fund to be allowed to tap the massive cash reserves of the European Central Bank an option Germany rejects. And weaker economies are wary of agreeing to the other two parts of the grand plan bigger bank capital and cuts to Greece's debt without assurance that the bailout fund is ready to provide support. Until it does, the continuing uncertainty will roil markets and slow growth across Europe and even the world. Worst off, of course, is Greece, which reeling from several rounds of budget cuts that have sparked a series of strikes and riots. "Greece has proven again and again that we are making the necessary decisions to make our economy sustainable, and make our economy more just," Greek Prime Minister George Papandreou told reporters as he headed into Sunday's meetings. "We are doing what we need from our side ... but it's been proven now that the cri sis is not a Greek crisis. The crisis is a European crisis, so now is the time that we as Europeans need to act decisively and effectively." To ease the pressure on the country, banks will be asked to accept much bigger losses on the country's bonds. Austria's chancellor said the cut in the value of Greek government bond will likely be raised "in the direction of 40 to 50 percent." "A cut in the debt is the right step," Werner Faymann told Austrian newspaper Wiener Kurier. The comments were confirmed by one of his aides. Despite massive budget cuts and reforms, a new report has said that Greece's economic situation is still dire and that worsening economic conditions mean it could take the country decades to emerge from the crisis. The report from debt inspectors said the eurozone and the International Monetary Fund would likely have to lend Athens more money unless the banks accept a 60 percent writedown of the bonds they hold. That would be on top of the euro110 billion ($300 billion rescue loans that have been propping up with country since May 2010. BUSINESS T HE TRIBUNE MONDAY, OCTOBER 24, 2011, PAGE 9B 0$1,6(7+(5RI(DVW 6 WUHHW6RXWK1DVVDX%DKDPDV ,17(51$7,21$/%86,1(66&203$1,(6 % 5,'*(*$7(+2/',1*6/,0,7(' ,QROXQWDU\OLTXLGDWLRQ RWLFHLVKHUHE\JLYHQWKDWLQDFFRUGDQFH Z LWKHFWLRQfRIWKH,QWHUQDWLRQDO % %5,'*(*$7(+2/',1*6/,0,7(' LVLQ 'LVVROXWLRQ 7 KHGDWHRIFRPPHQFHPHQWRIGLVVROXWLRQ VW $ OOLVRQ/RJDQ 6W+HOLHU -HUVH\-(' / LTXLGDWRU PHOTO PROVIDED by German government press office shows German Chancellor Angela Merkel, right, talking to French President Nicolas Sarkozy as they are on their way to a meeting prior to a summit of the European financial crisis in Brussels Saturday evening. (AP EUROPEAN LEADERS KEEP SUMMIT EXPECTATIONS LOW Share your news The Tribune wants to hear f rom people who are making news in their neighbourhoods. Perhapsy ou 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.
NEW YORK Associated Press INVESTORSwho doubted U.S. companies could make big money in a weak economy have been proved wrong again. Before companies started reporting earnings two weeks ago, investors worried thirdquarter profits might fall short of what Wall Street analysts were predicting. The fear helped push stocks nearly into a bear market. More companies than usual warned the faltering recovery could hurt business. The reality has turned out different. Among S&P 500 companies reporting so far, seven out of ten have posted higher profits than expected, called "beats" in Wall Street parlance. For all S&P companies, profits are now on course to rise 14 percent, the eighth quarter in a row they will have grown more than 10 percent. Profits for 2011 are on pace to surpass the annual record set in boom times four years ago. Stocks have rallied in response. Yet some companies beating expectations are getting punished. On Monday, stock in IBM Corp. fell sharply even after posting better-than-expected profits. And stocks are still priced relatively low compared to earnings. Part of what's bothering investors is fear of another economic slowdown. They worry that if Greece defaults on its debt, it could set off another global financial panic and tip the already fragile U.S. economy into recession. A recession could mean big trouble for stocks. A year after the last recession started, nearrecord profits for the S&P 500 turned into losses. The index fell by half, reaching a 12-year low in March 2009. "People are saying it doesn't really matter what companies earn if we fall into recession," says Sam Stovall, chief investment strategist at Standard & Poor's. Investors are right to worry for another reason: Those corporate "beats" are less impressive than they seem. Wall Street analysts generally think the U.S. is going to avoid a recession and that stocks are a bargain. Yet they've been cutting their estimates in the months leading up to this reporting season, according to John Butters, senior earnings analyst at data provider FactSet. Which raises the question, Why get excited about a company that beats estimates that have been lowered? "I'd be more impressed if the numbers hadn't come down," says Butters, who calculates estimates fell an average 4 percent from this summer through earlier this month. "It's a solid drop." Estimates for early next year h ave been cut even more. Whereas analysts used to expect a n 11.9 percent rise in S&P 500 earnings for the first quarter, for instance, they now see them growing 7.7 percent. Analysts have turned sour mostly on three industries: Financials firms like banks, t elecommunication companies and steel and other materials m akers. The latter includes Alcoa, which posted profits below estimates that analysts had already cut. For all materials companies, they've cut thirdquarter estimates 13 percent from the summer through last w eek. For all their caution, investors h ave richly rewarded some companies lately. Shares of Intel Corp. and McDonald's Corp. rose nearly 4 percent after reporting surprisingly good earnings last week. The S&P index is up 12.7 percent from its low for the year on Oct. 3. With most companies yet to report, there's still a chance more could start missing estimates. On Monday, heavy machinery maker Caterpillar Inc. is expected to report profits per share grew by almost a third over the prior year. Still, the stock has fallen 22 percent in three months as analysts cut estimates. One concern: With economic growth slowing around the world, Caterpillar may have trouble selling tractors and farm equipment abroad. Package delivery giant United Parcel Service Inc. reports Tuesday. Its stock has dropped more than 5 percent in three months as analysts slashed estimates by a similar amount. Rival FedEx Corp. met expectations when it reported last month. The stock fell to a two-year low anyway, on fears that future earnings might disappoint. On Thursday, Procter & Gamble Co. will offer insight onc onsumer spending with its earnings report. In three m onths, stock in the maker of Pringles and Pampers has risen 2 percent while analysts were cutting estimates 10 percent. In other words, don't be surprised if the stock drops even if the company beats. T hen again, the report from P&G may get drowned out by o ther headlines. By then, investors will be digesting details of Europe's latest plan to shore up its banks and increase the scope of a financial rescue fund. Europe's leaders hope to hammer out the details at a summit m eeting Wednesday. Depending on how they view t he plan, stocks could rise sharply or fall fast. Laments S&P's Stovall, "The market is driven more by macro news, not micro." Translation: Profits may not matter as much as you think. BUSINESS PAGE 10B, MONDAY, OCTOBER 24, 2011 THE TRIBUNE <9211(-268(RI 75($685(&$<$%$&2%$+$0$6 7(5&,//21'(/9$RI 0$56++$5%285$%$&2%$+$0$6 +$//(12&7$RI 0LQQLH6WUHHW1DVVDX%DKDPDV COMPANIES POST PROFITS BUT INVESTORS STILL WORRY
NEW YORK A ssociated Press GOOGLEis exploring the possibility of helping to finance a possible deal by others to acquire Internets earch company Yahoo, a ccording to a report publ ished by the Wall Street Journal on Saturday. Google Inc. has talked to at least two-private equity firms about potentially assisting them to finance a deal to buy Yahoo Inc.'sc ore business, according to the story, which cited a per-s on familiar with the matt er, and did not identify the s ource. Discussions The Journal said Google a nd prospective partners h ave held early-stage discussions, but haven't assemb led a formal proposal. The source said Google may not end up pursuing a bid. A spokeswoman for M ountain View, Californiab ased Google declined to comment to The Associated P ress. A spokeswoman for Sunnyvale, California-based Yahoo said the company doesn't comment "on rumor or speculation." M essages that The AP left on Saturday with rep resentatives of Google, b ased in Mountain View, California, were not r eturned. A ny involvement by Google in a Yahoo acqui sition would likely draw a ntitrust scrutiny from regu lators, because of both companies' shares in the Internet search business. T he report came as investors have recently driv en up Yahoo's stock price, betting that the company will sell itself, either in whole or in part. Closing Friday at $16.12 apiece, thes hares have gained nearly 25 percent since Sept. 6, when CEO Carol Bartz was fired. They are up 45 percent from the stock's 52week low reached in earlyA ugust. There has been repeated speculation that the com-p any might be sold to an a ssortment of buyout firms that prey upon troubled companies. Alibaba Group, a Chinese Internet company of which Yahoo owns a 43 percent stake, hase xpressed interest if it can line up the financing for a deal that would likely require a bid of more than $20 billion, the current mark et value of Yahoo's shares. Microsoft Corp., which o ffered to buy Yahoo for $47.5 billion in 2008 before withdrawing the bid, alsoh as been mentioned as a possible suitor. Since Bartz' firing, Tim M orse has been filling in as Yahoo's interim CEO while a lso working as chief financial officer. After the company's third-quarter earnings announcement on Tuesday, Morse told ana-l ysts that he couldn't discuss what the company's next step might be or when it might take it. Revenue Y ahoo is under pressure because its revenue has been falling at a time whent he Internet advertising m arket has been growing as r ivals such as Google and Facebook gain market share. Although it's still recognized around the world,Y ahoo's brand has been losing its luster as people increasingly embrace social networks such as Facebook and short-messaging service Twitter to keep track of w hat's going on instead of r elying on a media hub like Yahoo's website. BUSINESS T HE TRIBUNE MONDAY, OCTOBER 24, 2011, PAGE 11B HARRISBURG, Pa. Associated Press OFFICIALSsay the advent of table games at Pennsylvania casinos and marketing to Asian populations has spurred a hiring boom of workers of Asian descent for jobs at gambling establishments in the commonwealth. The (Harrisburg appear as a stand-alone demographic in the Gaming Control Board's annual diversity report for the first time, after being included as "other" in earlier reports because the number of workers was so small. Asians now account for more than 7 percent of casino workers statewide, overtaking the Hispanic category that maintained a 5 percent share of the employment. African Americans account for nearly 12 percent of casino employees, while the proportion of Caucasians has dropped to 75 percent from 82 percent in June of last year. P ENNSYLVANIA CASINOS UP HIRING OF ASIAN WORKERS REPORT: GOOGLE MULLING ROLE IN POSSIBLE YAHOO BID
By DAVID McFADDEN Associated Press BASSETERRE, St. Kitts ( AP) When Dudley Williams was a police commander in the mid-1980s, law enforcement in St Kitts and Nevis was a leisurely occupation. Violent crime was rare on the sleepy specks of land in t he eastern Caribbean. "If fellows got into a heated dispute at a rum bar, things were settled with fists, a piece of stick, a knife at the worst," said Williams, now 79. "You'd get a shooting once every five years." Times have changed here and for many islands across t he Caribbean, where an escalating arms race among criminal gangs has turned oncepeaceful neighbourhoods into battle zones. St Kitts and Nevis, a twoisland federation of nearly 50,000 people, has tallied 31 homicides so far in 2011, already making it the bloodiest year on record. Police blame gangs with names like Killer Mafia Soldiers and Tek Life for the escalating violence. Usually far from the view o f sunbathing tourists, tit-fortat shootings by trigger-hap p y gangsters have become common in the Caribbean,a ccording to a new report on global homicides by the UN Office on Drugs and Crime. Alarmed citizens are putting pressure on politicians throughout the region to attack the problem. In Trinidad and Tobago, which isoff Venezuela's coast along a prime drug shipment route, the government has declared a state of emergency, imposing nightly curfews and giving police and soldiers broad pow ers to conduct searches and seizures. Little of the violence so far has affected tourists to the Caribbean, where about six million Americans visit each year. Many stick to all-inclusive resorts, and those who don't rarely stray into the grit ty slums where the violence flares up. Still, there are isolated cases: A vacationing US Army sergeant was killed during a robbery in Trinidad last year.A Welsh couple was butchered in an Antigua vacation cottage on the last day of their two-week honeymoon in 2008. In St Kitts, bandits held up a small bus of tourists last year, prompting two cruise lines to briefly suspend stops there. Two British women were raped on a remote beach in St Lucia earlier this year. Drug traffickers have helped drive up the crime rates by introducing firearms and narcotics with a street val ue exceeding the size of the Caribbean's legal economy. Although the islands remain near-perfect conduits for drug shipments, with their numerous unpoliced islets and barely monitored coasts, the UN crime office says Caribbean drug seizures actually diminished 71 per cent between 1997 and 2009 as more contraband shifted to Central American routes. According to the agency, the increase in the Caribbean's lethal violence can partly be traced to fren zied competition between underworld groups fighting for turf in a diminished drug smuggling market. Caribbean experts worry a culture of violence has become entrenched on the islands, where nearly 70 per cent of homicides are committed by firearms. "Until fairly recently, we T T H H E E S S T T O O R R I I E E S S B B E E H H I I N N D D T T H H E E N N E E W W S S M M O O N N D D A A Y Y , O O C C T T O O B B E E R R 2 2 4 4 , 2 2 0 0 1 1 1 1 By PATRICIA GLINTON-MEICHOLAS I have tried to make time each year to support the Shakespeare in Paradise (SIP effort by husband and wife Philip Burrows and Nicolette Bethel to revive theatre in the Bahamas and recreate the season that the dear departed Winston Saunders had successfully run for a number of years. Because critical reviews are important to the development of a national theatre of quality, I have undertaken a commentary on this years SIP. In so doing, I reflect on the need for integrity in such an enter prise, which is crucial if theatre in the Bahamas is to be praiseworthy and sustainable. I just managed to squeeze in three festival entriesMariah Brown, one of a trilogy of monologues created by historian Sandra Riley, Julius Caesar, the Shakespearean centrepiece played out in modern dress and Dis We Tings, of which the late Kayla Lockhart Edwards was an originator. The latter encapsu lates singing, dance and dialogue and was created, I believe, to engender or strengthen Bahamian identity and national pride. Mariah Brown was staged simply at Bahamas Historical Society with only a chair, three books and a piece of crumpled, dingy paper as props. They were sufficient to create a highly satisfying evening. The story of a Bahamian pioneer in Coconut Grove, Florida was fascinating in itself and was amplified by the star turn of the actor Laverne Lewis. Apart from stimulating wonderment at her prodigious powers of memory, the statuesque Lewis dominated the room. She brought to vivid life a laughing Mariah Brown, her family, her dreams and such triumphs as learning to read and building a home of her own, which represented a great victory for a black woman in the 19th cen tury Southern United States. Julius Caesar is not an easy play to stage, especially when trying to maintain a facsimile of the 16th century language in which the Bard wrote it. Most challenging are the many and powerful monologues, through which the actors must con vey a range of strong emotions and subtleties, while driving the action of the tragedy forward. The cast was an obvious mix of seasoned and neo phyte thespians that I adjudged well directed by Philip Burrows because the staging did hold my attention, lagging mostly in interludes carried by actors who would probably have been best assigned shorter communications or walk-ons. David Burrows Brutus showed the actors obvious theatrical experience and a level of comfort with the stage. Jane Poveromos sooth sayer was a creditable turn, as might be expected from a stalwart of Bahamian theatre. And so was the performance of Matthew Wildgoose as Marc Antony, who managed not to despoil that great speech that so utterly condemns Brutus while praising him. Gordon Mills has long been a dependable comic actor, but he interpreted the conqueror of the Gauls and the Britons with just too much humour, as if recalling the rustic from last years Midsummer Nights Dream. The evening belonged to Jovanna Hepburn, who did a transgender performance as Cassius. She seemed to fulminate as the instigator of the plot to kill Caesar. She managed to draw us into a mind exploding with unrelenting anger and hatred and a surprising tenderness towards his/her hero Brutus, an unhappy marriage which demanded suicide in the end. I hope to see more of her performances. Dis We Tings was a lesser creation because it attempted too much, resulting in something of a patch work quilt. The main trouble was a run at rendering the current tripleparty politicking, which devolved into preaching. There were good points. No one can best Claudette Cookie Allens DIS MY TINGS : A REVIEW OF SHAKESPEARE IN PARADISE 201 S S E E E E p p a a g g e e 1 1 2 2 B B S S E E E E p p a a g g e e 1 1 2 2 B B Caribbean islands struggling to dismantle criminal gangs A JAMAICAN police officer marks for record a seized handgun at a police station in downtown Kingston, Jamaica. (AP
had an innocence about ourselves in the Caribbean, but that's been lost. This thing is a Pandora's Box and I'm not sure you can ever close it again," said Marcus Day, director of the Caribbean Drug & Alcohol Research I nstitute in St Lucia. Comparisons with other parts of the world can be stark. Jamaica, an island of roughly three million people that has been hit hard by drug and extortion gangs for years, c halked up 1,428 killings in 2010. Chicago, a city of nearly 3 million, reported 435 homicides last year. Statistics from the UN crime office show homicide rates nearly doubling in a number of Caribbean countries since 1995. In St Kitts and Nevis, slayings have increased sixfold since 2002, when there were just five killings. Ivelaw Griffith, an expert on Caribbean security at City University of New York, said outmaneuvered and outgunned law enforcement agencies on the islands have a limited ability to cope with the problem on their own. H e said the spread of cable television and popular music has raised expectations among youths by depicting the easy l ife even as the rough global economy is making pockets of poverty grow deeper and wider. It's "really creating a very unholy and unhealthy recipe for these small societies," Griffith said. To counter the gang culture, the Bahamas is tougheningc rime and bail laws, building more courts, trying to round u p unlicensed guns and fund ing programs to steer at-risk y outh away from crime. The archipelago off Florida's east coast has seen 104 people killed so far this year, easily topping the previous full-year record of 94 set just last year. Norelle Scott, a 19-year-old college student who lives on the most populous island of New Providence, said she is now fearful of leaving home at any time of day and is pessimistic about the chances for c hange. "Criminals are getting bold these days. I'm ashamed to know that my people are killing each other over small things, material things, and it's getting worse," she said. Prime Minister Hubert Ingraham is urging Bahami ans to join neighbourhood watch programmes and help police identify criminals. "Community engagement and service will be more effective in combating crime thani ron bars and gated communities," Ingraham said during a recent televised address. Trinidad and Tobago's emergency decree, imposed i n August and expected to extend through December, angered some young people, but others applauded the move. "We don't mind living under curfew conditions if it makes the country safer," said Zana Ramdial, a fortysome thing mother of three in the capital of Port-of-Spain. Many Caribbean islands have been known for feeble local enforcement. In St Lucia, drug smugglers know imme-d iately when the maritime police are on patrol, making evasion nearly effortless, said Day, the crime researcher in St Lucia. We don't really have enough fuel to pay for the police boats so we can only run them at certain times. And the criminals know when they go out," Day said. Some of the poor, developing islands have reached out to Scotland Yard and the FBI for help, or brought in foreign police and security consul tants. St Kitts recruited a new police commissioner, CelvinG Walwyn, who is a native i slander with long experience as police officer in Texas and Florida. He has warned street gangs he plans to eradicate them and has special teams of p olice and soldiers to patrol crime hotspots together. A tough new law can put peo ple away for 20 years if they are convicted of recruiting for the gangs. "Rumours on the street are that the gangs have an arsenal. But if push comes to shove, we can wipe them out," Walwyn told The Associated Press. He said employment and other services will be available for young people whow ish to leave gangs. Dale Watley, a 31-year-old who served three years in an overcrowded St Lucia prison for a shooting, says youths can b e lured away. He turned his back on the underworld life he had known since childhood and now runs his own barber shop. "The young guys, they want a movie kind of life, like 'Scarface,'" he said. "But once they get a chance to survive in the real world with respect, they don't want to shoot anyone anymore. They want to live." A A s s s s o o c c i i a a t t e e d d P P r r e e s s s s w w r r i i t t e e r r M M e e g g a a n n R R e e y y n n o o l l d d s s i i n n N N a a s s s s a a u u , B B a a h h a a m m a a s s , c c o o n n t t r r i i b b u u t t e e d d t t o o t t h h i i s s s s t t o o r r y y . a t conveying the personality of the wrong-headed Bahamian woman. The singing was also enjoyable. Inescapable was a truth about Bahamian life that Dis We Tings brought inadvertently to light. When I entered the Dundas Centre for the Performing Arts, I had no idea how intimately involved in that play I would become. A hint came at intermission when the director, Nicolette Bethel, approached me to say that I would recognise something in the second half. What a shock awaited me when a performer took centre stage rendering one of my stories, The Gaulin Wife. Here was a startling example of copyright infringement. No one had sought my permission to use my work, nor was I credited before or after the performance or in the programme booklet, where such c redit is expected and obliga tory. Audiences would almost certainly have credited Patrice Francis and Jonelle and Cherelle Fox, as they were given the byline for Dis We Tings and mentioned twicei n the programme booklet in that connection. A likely excuse for the unauthorised use of my work may be an assertion that Tony McKay and others, including Derek Burrows, have told sto-r ies about a man marrying a gaulin, a traditional story character. Perhaps what the lay public or novices in liter ary circles may not wish to admit is that I have long been quietly recognised as an authority on Bahamian folktales and many who now use the traditional characters to weave their own stories have been influenced by my writ ings and talks. Dr Cleveland Eneas was one such. He differed from others in that this grand and rare Bahamian, now gone from us, always asked my permission in his d elightful visits to my work place before he told a story incorporating my material. Even Ms Bethels brother-inlaw, Derek Burrows, the storyteller, once interviewed me when I was still on the facultyo f the College of the Bahamas. Stories While my stories may, in some cases, use traditionalc haracters, the writings that result are entirely my own and not a part of a shared Bahamian heritage. The leg end of the vampire exists all over the world, from the strigoi of Romania to the Soukouyan of the Eastern Caribbean to the hag of The Bahamas, and would certainly qualify as shared heritage. I challenge anyone, however, to make public use of the scripts of the Twilight series of films or any modern vampire novel using that claim and see what happens. The stories of An Evening in G uanima, including the Gaulin Wife, are original, literary creations that are entirely my own in character isation, story line and in every aspect of their development. They are to be foundn owhere else, except with my authority and without my authority when plagiarised. My ownership of the Gaulin Wife has been iterated since 1988, when the story was published by PenguinL ondon in their anthology, Under the Storytellers Spell (ed. Faustin Charles firmed by its registration as a part of the larger work, An Evening in Guanima, with the United States Library of Congress. I stand by my assertion of copyright and challenge anyone to make a public com parison of other material and my story The Gaulin Wife. Dis my tings. It is hard to credit claims of honest mistake. In the theatre, the protection of intellectual property is vital and a key to profit and sustainability. Copyright is that important, but not so important, it seems, in The Bahamas, where we are witnessing a frightening decline in respect for life and property. Through rehearsals and several performances of Dis We Tings, it is inconceiv able that those who are wellversed in the arts, whether they be director, writer or performer, would not have been aware of the source of this particular story. Was not the director present at rehearsals and particularly at dress rehearsals? In contemporary theatre, doesnt a good director of a play zealously oversee all aspects of the production and have final decision-mak ing power over the global artistic concept and the content and interpretation of what finally goes on stage? Furthermore, how could Patrice Francis and Jonelle and Cherelle Fox, who have been given the byline for the play, not know that a major segment of the dialogue (the storytelling) was not theirs? Reva Cartwright-Carroll recit ed my words and brought to l ife my characters on stage at the Dundas on October 8, 2011 without my permission. How could they not have known that they were infringing my copyright? They had to learn the specific story, The Gaulin Wife, from my book with its copyright notice prominent in the front mat ter. Once it was apparent that the story was protected by copyright, why would these people not have refused tou se the story, unless assured that the authors permission had been obtained and due credit given to the author? We need to examine publicly the implications for the development of Bahamian theatre and Bahamian principles of an act that is consid ered unconscionable in the literary world. Indeed, it is actionable in most legal sys tems and certainly in The Bahamas. It is a grave solecism, which has brought down college presidents, noted authors and journalists. Claim Making a monetary claim against SIP has not been a consideration, although there would be substantial evidence to sustain such an action. Intellectual property is to writers, musicians, photogra phers, filmmakers, designers, inventors and many others, the same as money to the banker, produce to the farmer and the catch of fish to the fisherman. Creativity and Intellectual property are the writers stock-in-trade, the source of livelihood. As such, its unauthorized use must be considered as serious as any other form of property theft. The most memorable thing about the play was its central assertion of Dis We Tings. It echoed our assertion of national pride on each Independence Day that seems to die once the day passes. Our concept of national pride seems hollow, promoting widespread exclusion of responsibility towards country and fellow citizens. There is a disturbing and widening gap between what we preach and what we practice. This is bad enough among those w hose early life experiences did not emphasize obligations to law and fellow human beings, and worse when demonstrated by the more privileged. The answer may lie in a m alady, whereby some fiercely protect their own rights but cry havoc and let slip the dogs of war on the property of others. Festival organizers may have, by their example, sanctioned plagiarism. Sure-l y, with declining mores, they too may one day be cheated of rights and credit. SIP infringed several of my most important rights as a writerthe right to permit or refuse the use of my creative product, the right to the first public staging of The Gaulin Wife, and the right to direct and give input to any staging of material I worked hard to create. It is time citizens of goodwill stand against cultural traits and practices that militate against order and admirable development in our society, and not casually con done them when the offenders are widely received in society. We cannot condemn vociferously the infractions of the people of the inner city, while covering in a conspiracy of silence and legal highjinks the failings of those of higher social and economic standing in our community. The wispy, airborne seeds of the silk cot ton eventually grow into enormous, thorny trees dominating our landscape, their roots maintaining a grip on the earth that is seldom shaken even by the most powerful of hurricanes. My hope is that we can learn from this unsanctioned transfer of ownership to create a more beneficial practice of national pride and generate greater respect for prop erty rights. Elsewhere in the world theatres have been shut down and actors jailed for exposing the woes of their societies. Shouting And now difference! from the stage pales in the light of such courage. Among all the ingredients required for the pros perity of Bahamian theatre,surely respect and consistent maintenance of moral integrityare vital. INSIGHT PAGE 12B, MONDAY, OCTOBER 24, 2011 THE TRIBUNE DIS MY TINGS : A REVIEW OF SHAKESPEARE IN PARADISE 201 F F R R O O M M p p a a g g e e 1 1 4 4 F F R R O O M M p p a a g g e e 1 1 4 4 Caribbean islands struggling to dismantle criminal gangs AN AERIAL view of the Caribbean island of St Kitts. The Caribbean region, once a leisurely occupation, is facing hard times as an escalating arms race among criminal gangs has turned once-peaceful neighbourhoods into battle zones. Jamaica chalked up 1,428 killings in 2010 and St. Kitts and Nevis, a two-island federation of nearly 50,000 people, has tallied 31 homicides so far in 2011, already making it the bloodiest year on record. (AP
By SIMON LEWIS Bahamas Information Services G UADALAJARA, Mexico Dubbed the Fantastic Four, the Bahamas National Ladies SwimT eam competing at the XVI Pan American Games have become the darlings of the Games. The squad, Alana Dilette, 24, Alicia Lightbourne, 21, McKayla Light bourn, 19, and Ariel Weech, 20, have impressed. The Bahamas is the lone team from the Caribbean to consistently be among the top fin ishers. On Friday, the final day of the swimming competition, the squad clocked 4:23.04 in the Womens 4x100 Metre Medley Relay for a sixth place finish, advancing to the finals on Friday night at the Scotiabank Aquatics Centre in downtown Guadalajara. Less than an hour earlier, Weech had competed in the Womens 50 Metre Freestyle, finishing 12th in a time of 26.76 and had to suit up again for the relays. This has been the case for the Bahamians throughout the week, with some swimming in as many as four races a day. Many countries were able to bring in extra swim mers, keeping swimmers fresh for the relay teams and other races. These athletes I am proud to say represented The Bahamas at a high level both in and out of competition and are true ambassadors. I think many of our other athletes could learn from them in terms of their conduct and dedication to their sport, said Don Cornish, Chef de Mission for the Bahamas contingent. Swim Team Coach Lionel Moreau was likewise pleased with the teams performance, saying it was great. We have won just about all the B Finals that we were in and people noticed us. Ariel Weech swam her two best time in the 100 Freestyle. McKayla swam the Breaststroke best time last night winning the B Finals, really close to an individual medal. The other girls are really just showing some amazing stuff, and they were out there racing and giving the best they have, so I am real l y, really happy about this team, he said. Coach Moreau said the squad will n ow focus on qualifying for the Olympics. The B Finals at the Pan Am Games is like a consolation race, which features those top athletes that did not make the A Finals or medal race. Team manager Kathryn Dillette felt The Bahamas was short changed in terms of have many swimmers the country could bring to the Games. She said that, late last year, the Pan American Sports Organization (PASO Swim Federation that three of their swimmers would not be able to compete, even though they had reached the qualifying time, because they had to cut numbers to make sure the meet did not exceed 256. They also at that time cut our relay only swimmers. Some coun tries would enter swimmers just to use for relays. But at the Congress this week (in Mexico ment that they changed their position on relays and allowed countries to carry their relay only swimmers and in our case we were never informed about that. By BRENT STUBBS Senior Sports Reporter firstname.lastname@example.org V alentino Knowles can now add a Pan American medal to his rsum. Fighting in the mens light welterweight division or 64 kilogram division, Knowles came from behindt o pull off a (17-17 over Fabrian Maidana of Argentina to secure the first medal for theB ahamas in Guadalajara, Mexico. Having also secured the distinction of winning the Bahamas first m edal in boxing at the four-yearly g ames, Knowles now advances to the semifinal where he is slated to face Yoelvis Jesus Hernandez of Venezuela on Tuesday for a chance to compete for the gold medal. If he is successful, Knowles will a dvance to the gold-medal round on Friday. Knowles, who was unavailable for comments, trailed 6-4 in the first round but bounced back to take the second set 7-5. He and Maidana f ought to a 6-6 draw in the third r ound as they finished even at 17-17. But because of his aggressiveness in the second round, Knowles wasa warded the victory. C oach Andre Seymour said he was quite impressed with Knowles performance and is confident that he will prevail. We have never had a boxer win a medal at the Pan Am Games. Hest he first boxer, said Seymour, a former outstanding amateur boxer who failed in his bid to win a medal. It was rough. Valentino had to c ome from behind after falling behind by two points, but in the sec ond round he went ahead to tie it at 1 1-11. He just kept the pressure on his opponent. As long as Knowles can continue to apply the pressure the way he did in the second round yesterday, Sey-m our said theres no reason why he cant prevail the rest of the tourna ment. Each round, I want him to stay ahead, Seymour stressed. We THETRIBUNE SECTIONEMONDAY, OCTOBER 24, 2011 INSIDE TRAK T T U U R R N N T T O O 2 2 E E . . . T T U U R R N N T T O O 5 5 E E . . . T T U U R R N N T T O O 5 5 E E . . . NEW ZEALAND ALL BLACKS EDGE FRANCE 8-7 TO END RUGBY WORLD CUP DROUGHT TENNIS: TIPSAREVIC, CIBULKOVA WIN KREMLIN CUP TITLES WORLD SERIES BASEBALL: RANGERS EVEN THE SERIES 2-2 NBA: NOWITZKI TO WORK OUT IN GERMANY IF LOCKOUT DRAGS ON NFL Wk 7: WINLESS DOLPHINS TEBOW-D 18-15 IN MIAMI T T U U R R N N T T O O 7 7 E E . T T U U R R N N T T O O 3 3 E E . . . Valentino first boxer ever to win medal at Pan Am Games Through to semis, Knowles one win away from gold-medal round P UNCHING POWER: V alentino Knowles ( right) l ands a punch against Fabian Maidana of Argentina in their light welter-64 kg quarterfinals bout at the Pan American Games in Guadalajara, Mexico, on Sunday. (AP S S E E E E p p a a g g e e 3 3 E E S S E E E E p p a a g g e e 3 3 E E ANT ASTIC FOUR 6TH OVERALL IN 4X100 MEDLEY RELAY MEXICOS Byanca Rodriguez (left keeps pace with Alicia Lightbourne of the Bahamas during a preliminary heat of the womens 4x100 medley relay Friday. (AP
S S O O F F T T B B A A L L L L N N P P S S A A F F I I N N A A L L S S E E T T THE New Providence Softball Associations best-of-seven championship series is all set to get started at the Bankers Field, Baillou Hills Sporting Complex, on Tuesday night. In the womens opener at 7pm, the Bommer G Operators, managed by Anthony Bullard, is slated to take on the pennant winning Proper Care Pool Lady Sharks, managed by Steve Bishop Beneby. The mens feature contest will see perennial champions Island Luck Truckers, managed by Perry Seymour, against the youthful pennant winning New Breed, managed by Martin Pork Burrows. V V O O L L L L E E Y Y B B A A L L L L N N P P V V A A A A C C T T I I O O N N THE New Providence Volleyball Association continued its 2011 regular season action at the DW Davis Gym Fri day with the following results posted: In the womens match, the defending champions Scottsdale Vixens maintained their perfect record on the season by defeating the Cougars in straight sets 25-11, 25-15 and 25-14. Krystel Rolle led the Vixens with eight points for the win. In a losing effort, Jannellee Curtis scored nine points. In mens action, the defending champions Scotiabank Defenders also disposed of BTVI in straight sets 2511, 25-10 and 25-8. Shonari Hepburn led the Defenders and all scorers with 15 points. Lewis Colebrooke scored for three points for BTVI. The NPVA is slated to be back in action on Wednesday with another double header. In the womens opener at 7:30pm, the Titans will take on the Vixens and in the mens feature contest at 9pm, the Technicians will face the Intruders. B B A A S S K K E E T T B B A A L L L L C C A A T T H H O O L L I I C C B B A A S S K K E E T T B B A A L L L L AFTER taking a break for the mid-term, the Catholic Diocesan Primary Schools is expected to resume play in its basketball season at Loyola Hall, Gladstone Road, on Wednesday. The opening game at 3:30pm will be played between the Xaviers Giants and St Thomas More Sparks. That will be followed by Our Ladys Blue Flames against St Bedes Crushers. B B A A S S E E B B A A L L L L L L E E G G E E N N D D S S G G A A M M E E THE Ministry of Youth, Sports and Culture has requested that the Bahamas Baseball Federation lead organisations to co-ordinate the upcoming Legends Baseball Game in conjunction with the Hall of Fame Induction Ceremony, scheduled for 6pm November 5 at Government House. As a result of the request, the federation has released the following schedule of games: Saturday, Nov 5 10 am Game one 12:30pm Game two C C O O N N C C H H M M A A N N T T R R I I A A T T H H L L O O N N THE 25th annual Conchman Triathlon is scheduled for Saturday, November 5 in Freeport, Grand Bahama. The event will comprise of a one-kilometre swim, a 25k bike ride and a 5k run. Persons can register by logging onto the Facebook Event Page, e-mail organiser Bert Bell at email@example.com or calling him at 727-5886 or 727-5381. M M A A R R K K K K N N O O W W L L E E S S C C E E L L E E B B R R I I T T Y Y I I N N V V I I T T . MARK Knowles is pleased to announce the annual Mark Knowles Celebrity Tennis Invitational is set to be held December 1-4 at the Atlantis resort by presenting sponsor MDC-Partners and organised by the Mark Knowles Man agement Group (MKMG This years featured players are Andy Roddick, Xavier Malisse and Sabine Lisicki with some additional stars to be announced at a later date. The organisers plan to hold a Pro/Am doubles tournament for platinum sponsors, a Pro Exhibition and an opportunity for top Bahamian junior tennis players to interact with the visiting pros. C C Y Y C C L L I I N N G G T T O O U U R R D D E E N N E E W W P P R R O O V V I I D D E E N N C C E E THE Tour de New Providence will be held over the weekend of October 29-30, starting and finishing at the Clifton Heritage Park parking lot at Clifton Pier. There will be a race for the competitive cyclists and noncompetitive cyclists. Prizes will also be presented to the oldest and youngest partici pants. For more information, persons can visit musgrove firstname.lastname@example.org or call 425-1057. B B A A H H A A M M A A S S B B A A S S E E B B A A L L L L F F E E D D E E R R A A T T I I O O N N A A G G M M THE Bahamas Baseball Federations annual general meeting and election of offi cers is set for Saturday, November 12 in the board room of the Ministry of Youth, Sports and Culture. In order to be eligible for any of the positions, interest ed persons should note that the nomination deadline is October 28. All nominations must be turned in to the BBFs secretary general Teddy Sweeting. S S O O F F T T B B A A L L L L B B S S C C A A C C T T I I O O N N AFTER taking a break because of its track and field classic, the Baptist Sports Council will resume play in the 2011 Bishop Neil C Ellis Softball Classic on Saturday at the Baillou Hills Sporting Complex with the following fixture of games on tap: Field One 10am Temple Fellowship vs Mt Tabor (Co-ed 11:30am Macedonia vs Golden Gates (19 1 p.m. Golden Gates vs Macedonia (Co-ed 2:30 p.m. Macedonia vs Temple Baptist (M Field Two 10am St Pauls vs Christ ian Tabernacle (Co-ed 11:230am Temple Baptist vs Calvary Deliverance (M 1pm Mt Tabor vs St Pauls (M SPORTS TRIBUNE SPORTS MONDAY, OCTOBER 24, 2011, PAGE 3E V alentino first ever boxer to win medal at Pan Am Games knew this guy was coming tough because Valentino beat him a couple months ago. But now that we have gotten into the medal round, we are just going to have to go for the gold. Knowles, 23, opened com petition as the lone Bahamian representative on Friday with a 17-7 dominating perfor mance over Luis Adonis Amador of Nicaragua. T T R R A A C C K K A A N N D D F F I I E E L L D D Hoping to feed off Knowles success and the strong showing by the swimmers, who wrapped up competition on Friday, the track and field team is set to swing into action today. First up is Jamial Rolle in lane seven in heat two of the mens 100 metres preliminar ies. Adrian Griffith will run out of lane four in heat three. There are five heats and the first two and the next six fastest times will advance to tonights semifinal. Also in action today will be Rudon Bastian in the mens long jump. He will be the fifth of 11 competitors in Group B. And Katrina Seymour will be in lane two in heat one of the womens 400 hurdles. She will have to be one of the first three finishers or one of the next two fastest to advance to the final. Im looking for Jamial and Adrian to move on to the semifinal and looking at the start list for Katrina in the 400 hurdles, she could pick up a medal because its an even field, Gardiner said. Were very excited about Valentinos performance. Hes gotten great support from the athletic people. Hes staying in the room with Chris (BrownMathieu and Donald (Thomas thats a plus. Everybody is pulling for him and hes inspiring the athletic team. Having had a chance to work with Thomas since his arrival at the games, coach Ronald Cartwright said he looks nice and smooth. He had his third practice today and its getting better, said Cartwright, who noted that they have corrected his approach that hampered his performance at the IAAF World Championships in Daegu, South Korea, in August. On Tuesday, Chris Brown and Ramon Miller will begin competition in the mens 400. The good news is that theres only two rounds so Gardiner said hes convinced that they both will get into the final on Wednesday. B B O O W W L L I I N N G G The womens doubles is scheduled to begin today at the Tapatio Bowling Alley and the Bahamas will be represented by the team of Justi na Sturrup and Joanne Wood side. The medal round is set for Tuesday. Competition in the wom ens single qualifying 1st block of six games is set for Wednesday. F F R R O O M M p p a a g g e e 1 1 E E THE 2011-12 Commonwealth American Football League season beganm uch in the same fashion as last season ended, with a convincing win by the leagues perennial champions. The Orry J Sands Pros opened the year with a 22-6 win over the Nassau Jets Saturday at D W Davis playing field in a rematch of last years Boil Fish Boil. Charles Edwards scored t wo touchdowns while the P ros defense delivered a shutout on the other side of the ball. The lone score for the Jets came on ani nterception returned for a touchdown late in the second quarter. The Pros came out strong on their opening p ossession, capping a 60yard drive with a touchd own and successful conv ersion for an 8-0 lead. A touchdown pass from v eteran quarterback Mike Foster gave the Pros a 14-0 lead. H owever, the interception returned for a touchd own on the ensuing possession brought the Jets w ithin a single score just b efore the half, 14-6. The second half was all P ros as Edwards added a late touchdown run to seal the win and a successful conversion pass to tight end Philip Moxey Jr wast he final scoring play of the game. Pros win opener over Jets 22-6 SPORTS IN BRIEF PAN AM GAMES: FANTASTIC FOUR 6TH OVERALL IN 4X1 00 MEDLEY REL A Y So in fact we lost not only individual swimmers, we lost relay swimmers that we could have used in the mornings to saves ome of our girls for the evening finals, she said. The entire meet for all of them has been that of an uphill battle. We had one swimmer on Monday swim four swims, two individual and two relays. It was hardo n them to combine both events and they have done it and have risen to the chall enge. They understood from the beginning that this was going to be very taxing. She said that, considering all the obsta c les, the team performance has been outstanding. A guy from the United States came to m e yesterday and said to me that they (Bahamian Swimmers ing job for having to swim everything,s he said. The team ended their competition on Friday night and returned home on Saturday. F F R R O O M M p p a a g g e e 1 1 E E A RLINGTON, Texas (AP Derek Holland kept Albert Pujols in the ballpark and the Texas Rangers in this World Series. In a title matchup that's getting more interesting with every game, Holland put the emphasis back onp itching. Given a pep talk by manage r Ron Washington minutes before t he game, Holland allowed two hits over 8 1-3 innings to beat the St Louis Cardinals 4-0 on Sunday night and even things at 2-all. Holland struck out seven, walked two and never was in trouble against a team that erupted for 16 runs the previous night. He came within two outs of pitching the first completegame shutout in the World Seriess ince Josh Beckett's gem for Florida t o clinch the 2003 title at Yankee Stad ium. "I was very focused. I knew this was a big game for us," Holland said. "I had to step up and make sure I was prepared." H obbled Josh Hamilton put Texas a head with an RBI double in the first inning. Then Mike Napoli broke it o pen with a three-run homer in the s ixth that set off a hearty high-five in the front row between team president N olan Ryan and former President G eorge W Bush. A nd just like that, for the first time s ince 2003, the World Series stood at t wo games apiece. Now the whole season is down to a best of three, with the o utcome to be decided back at Busch S tadium. G ame 5 is tonight at Rangers Ballp ark. It's a raematch of the opener, when Cardinals ace Chris Carpenter t opped CJ Wilson. Rangers even World Series RANGERS Mike Napoli celebrates with Yorvit Torrealba (81 hitting a three-run home run during the sixth inning of Game 4 Sunday. (AP