Citation
The Tribune

Material Information

Title:
The Tribune
Uniform Title:
Tribune (Nassau, Bahamas)
Portion of title:
Nassau tribune
Place of Publication:
Nassau, Bahamas
Publisher:
Tribune
Publication Date:
Copyright Date:
2006
Frequency:
Daily, except Sunday
daily
normalized irregular
Language:
English
Physical Description:
v. : ill. ; 58 cm.

Subjects

Genre:
newspaper ( sobekcm )
newspaper ( marcgt )
Spatial Coverage:
Bahamas

Notes

General Note:
Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.

Record Information

Source Institution:
University of Florida
Holding Location:
University of Florida
Rights Management:
This item was contributed to the Digital Library of the Caribbean (dLOC) by the source institution listed in the metadata. This item may or may not be protected by copyright in the country where it was produced. Users of this work have responsibility for determining copyright status prior to reusing, publishing or reproducing this item for purposes other than what is allowed by applicable law, including any applicable international copyright treaty or fair use or fair dealing statutes, which dLOC partners have explicitly supported and endorsed. Any reuse of this item in excess of applicable copyright exceptions may require permission. dLOC would encourage users to contact the source institution directly or dloc@fiu.edu to request more information about copyright status or to provide additional information about the item.
Resource Identifier:
09994850 ( OCLC )

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Full Text
WEATHER

Pm lovin’ it.

S8F
72F

SUNNY AND



#1 PAPER IN CIRCULATION
— Che Miami Herald:



BAHAMAS EDITION





‘Volume: 102 No.148






@ By NATARIO McKENZIE

POLICE admit that the addi-
tion of the country’s two most
recent homicides has raised con-
cern. However, with the signifi-
cant leads they now have in the
cases they are confident they will
be able to bring closure to their
investigations very soon.

Two men died yesterday of
injuries suffered in separate inci-
dents that occurred less than six
hours apart.

Yesterday police declined to
speculate on the motives for the
murders but noted that they
were following significant leads
into the matters.

Police say they have an indi-
vidual in custody who is assisting
them in their investigations into
Thursday’s first homicide.

Omeleo Griffith, 21, a resident
of Yellow Elder Gardens, died
from a stab wound sustained in
an altercation with a male rela-
tive early yesterday morning.
Police say that around 9 am yes-
terday Griffith and the relative
were involved in an argument at
Graham Drive Yellow Elder

Gardens. Griffith was stabbed in -

the chest.

He was taken to the hospital
where he later died.

The second homicide occurred
at the Pond Wash laundromat,
located near Barcardi Road,
sometime after 1 pm yesterday.
Chief Superintendent of Police
Marvin Dames told The Tribune
yesterday that 23-year-old Eric
Mcgregor of Bacardi Road was
shot as he was about to enter the
laundromat. Mr Dames said that
as Mcgregor neared the entrance
to the building he was
approached by a gunman who
had just got out of a light
coloured Suburban. The man




































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f

ST ECR CT SIT MCE

Winning ity Markets bid

and ne in
separate incidents



reportedly shot Mcgregor in the
upper part of his body before
getting back into the vehicle and
fleeing the scene. According to
Mr Dames, Mcgregor mustered
enough strength to make his way
into the laundromat where he
collapsed and died.

“We are following a number
of leads in connection with this
matter and are confident that we
will be in a position to identify
the ‘perpetrator of this heinous
act very soon,” Mr Dames said.

“One obviously has to be con-
cerned with the manner in which
persons involved in acts such as
these are carrying them out,” Mr
Dames said. “We have been
extremely successful in bringing
such matters to closure and we
are certainly on the right track
with these latest two,” Mr
Dames said.

Mr Dames noted that to date
the police have completed their
investigations into most of the
homicides this year. Noting that
there haye so far this year been
21 homicides in the Bahamas,
Mr Dames told The Tribune yes-
terday, “We still have one matter
that is outstanding for New Proy-
idence, (the death of Angelo
Strachan) that we are currently
following some leads into and
that means that our detection
rate is well above average com-
pared to any other country.”

Confident that the police will
soon be able to wrap up their
investigations into the country’s

two latest homicides, Mr Dames.

said: “We are now beginning to
pick up some significant leads in
our investigations into the death
of Angelo Strachan and if we are
able to close that investigation
we would then have one out-
standing matter for Grand
Bahama”.

FRIDAY MAY, 19, 2006



PRICE — 75¢



Tuy let
arene lh



M@ THE body of 2syéanokt Eric Mcgregor.is removed from inside the Pond Wash laundromat (which is located near Bacardi Road)
and placed inside a hearse. Mcgregor reportedly died after sustaining a gunshot wound to his upper body.
eee. by Felipe Major/Tribune staff)

Haitian-Bahamian |

speaks out against
newly implemented |
immigration policy
@ By DENISE MAYCOCK

and is demanding that “illegal”

immediately.

tance in dealing with the matter.

SEE page nine

_ Hubert Ingraham _ Govt discussing ‘Luxury’ vehicles

hears Guana Cay |

: residents’ concerns

on development

Mr Ingraham said meetings

SEE page nine

possibility of

exchanging land _

at Bozine Town

: ml By RUPERT MISSICK Jr
FNM Leader Hubert Ingraham

FREEPORT - A Haitian- and his parliamentary team met i
Bahamian business professional : ge resco uts of en oo
is criticising the PLP’s newly : h ‘dee 1 Un a as well as wit
implemented immigration policy : the developers of the Bakers Bay

: project, to ascertain the scope of
i the residents’ environmental con-

acts against Haitians discontinue :
: cerns, and to relay the same to

Businesswoman and human PhS piolecus mevelUpels,

rights activist Jetta Baptiste said if :
the Immigration Department con- held demonstrated that most of

tinues to arbitrarily arrest chil- :

Chief Reporter

GOVERNMENT is discussing : men, religious leaders, doctors,

: with the principals of LANDCO : and their wives, have had their.
i the possibility of exchanging the : “luxury” vehicles confiscated by
: land at Bozine Town and : Customs officials.
: Knowles Drive for government :

: owned property, Agriculture :
: Ministee al MP for the area : reports that this operation is a
: Leslie Miller told The Tribune ; Continuing one that began on

¢ : yesterday.
the residents’ concerns can be sat- :

dreitand other innocent Haitians®! isfactorily resolved. He also said

in the community they will be : cree velepets Tee fered bores
j : -,_ : make available their Environ- :

forced to seek international assis t mental Management Plan (EMP)

“So far we have refrained from and the project’s full pe ;
protesting, bringing international : en aad See ee
media attention, calling for eco- : OTP UD ILEAL CN LEM aD li i
nomic boycotts and sanctions | review the possibility of settling ;
against the Bahamas, but don’t -} for a lesser acreage of land than
believe one minute that these | they were previously granted by
measures will not be taken if we : the present government.

“T have spoken to (the devel-
opers) and they are not adverse to
it. In fact they want to sit and talk

: and try to work out something.
: They don’t want to displace any- :
: one, they want an amicable reso-

SEE page nine

confiscated by.

Customs officials

| MBy PAUL TURNQUEST -

Tribune Staff Reporter
A NUMBER of business-

Comptroller John Rolle

: Mother’s Day where officials
: ” Mr Miller once again gave his : ae seizing the vehicles because
: assurances that no one will be dis- : they had been undervalued on
: placed in Bozine Town. :
The minister was expected to :
: convey this message to his con- :
i stituency at a meeting last night.

: their Customs forms by an auto

dealer in New Providence.
During the gathering of this

: information a number of high-
: profile names have been called,
: whose Jaguars, Mercedes, Jeeps
: and other vehicles were confis-
? cated. However, Mr Rolle said
: that, as the operation is still con-
: tinuing, he is unable to confirm

SEE page nine



PAGE 2, FRIDAY, MAY 19, 2006

THE TRIBUNE



PM’s trip to Chapter One

me

m@ By KARIN HERIG





: Win a 2006 GM Chevrolet Optra!
~ QO Winners of $100 in FREE Energy Fuel.

-That’s 10 Winners a week for 5 weeks.

Congratulations te our Energy fuel winners so far...
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Drive into Esso today for your chance to win Free Energy Fuel and a 2006 GM Chevrolet
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Come into Esso today, and drive out a winner!
pe We’re drivers too.

Esso will not be responsible for the insurance or registration of the GM Chevrolet Optra.

~_

Tribune Staff Reporter

THE completion of the New





q

ours the new book store at the College of the Bahamas

(Photo: Felipé Major/Tribune staff) .

Providence Road Improvement
Project has hit a major snag — as
contractors have failed to sub-
mit bids to the Ministry of
Works.

Making this announcement
in the House of Assembly, Min-
ister of Works and Public Util-
ities Bradley Roberts explained
that despite a prolonged peri-
od of advertising contracts for
two sections of Nassau roads,
his ministry failed to receive a
single bid.

“The disappointing outcome
of our efforts in getting this
New Providence Road
Improvement Project (NPRIP)
going again has been frustrat-
ing to my ministry as well as the
public who have not realised
the benefits of an increased
road capacity on the island of
New Providence,” he said.

Discussions

In order a resolve the prob-
lem, the minister said that his
technical staff has begun pre-
liminary discussions with the
Inter-American Bank (IDB) on

_ the Bahamas’ loan agreement.

He said a decision was
reached to proceed on the basis
of limited bidding.

“The limited bidding process
permits issuance of the bid doc-
uments to at least three or more
international applicants and
what I have six in mind who are
interested to submit a bid ona
post-qualification basis,” he
said.

Ministry receives
no bids for New |
Providence road

improvement

Mr Roberts said that he antic-;

ipates that the bid documents

will be issued to the shortlisted-, »

bidders by July or August this. « ~

ws

year. i

The contractors will be bid-
ding on contracts of “slice one
and two” of the New Provi-
dence Road Improvement Pro-
ject.

Slice one includes the reha-
bilitation, improvement and
expansion of Baillou Hill Road
from Independence Highway to
Carmichael Road, as well as the
corridor starting at Baillou Hill
Road stretching from Robinson
Road to Duke Street.

Also included in slice one is
the corridor from Market Street

along Robinson Road to Duke ,

Street.

&

East Street from Soldier

Road to Robinson Road, West
Bay Street — including the road
alignment at Saunders Beach —
and John F Kennedy Drive
from Farrington Road to Bethel
Avenue, are also encompassed
by slice one.

Slice two of the road project,

includes the improvement and

expansion of Robinson Road:, .

from Baillou Hill Road to Clar-

idge Road; Prince Charles Dri-,. , 5

ve from Marathon Road to Fox

Hill Road; Marathon Road,, 5"

from Robinson Road to
Wulff Road; Wulff Road,,
from Marathon Road to

Bernard/Village Road; and *
from Claridge Road to.‘*

Marathon Road.

The contracts were advertised, »°

both locally and internationally.

'
21

f

a

8

gr
Te

“
et
wwe

MANAGER NEEDED

(FOR NEW STATE OF THE ART PRODUCTION LINE
CABINET FACTORY IN NASSAU)

QUALIFICATIONS:

STRONG MANAGEMENT SKILLS

CABINET MAKING SKILLS

A SECONDARY DEGREE WITH GOOD WRITING SKILLS
MOTIVATED TO ASPIRE TO A HIGHER LEVEL OF

MANAGEMNT

COMPUTER SKILLS IN EXCEL, WORD AND OUTLOOK
GOOD COMMUNICATION, LEADERSHIP, AND PEOPLE

MANAGEMENT SKILLS

RESPONSIBILITIES:

DAILY WORK SCHEDULES & WEEKLY SHIFT SCHEDULES

OF EMPLOYEES

DAY END PROGRESS REPORTS
MONTHLY REVIEWS OF EMPLOYEES & PRODUCTION
ORGANIZE AND IMPLEMENT EFFICIENT MATERIAL

STORAGE AND ACCESS

INVENTORY MANAGEMENT & CONTROL

ORDERING MATERIALS FROM LOCAL & FOREIGN VENDORS
SIMPLE REPAIR AND MAINTENANCE TO MACHINERY, AND
OVERSEEING LARGE REPAIRS

BENEFITS:
ATTRACTIVE SALARY
* BONUSES
HEALTHY BENEFITS

FORWARD RESUMES TO:
EMAIL: kccbah@hotmail.com
FAX: 394-4159





THE TRIBUNE

FRIDAY, MAY 19, 2006, PAGE 3 . .



eo oe eee ee
0 In brief New in



Search is

suspended
‘for missing
passenger

BAHAMIAN and US rescue
teams have suspended their
search for the man who disap-
peared off a Royal Caribbean
cruise ship on Monday.

Investigators who have
reviewed the surveillance tapes
installed on the Mariner of the
Seas cruise ship have deter-
mined that Daniel DiPiero, 21,
of Canfield, Ohio, fell over-
board after a night of heavy
drinking with friends.

Interviews with DiPiero’s
friends revealed that the group
had concealed liquor in mouth-
wash bottles and brought a bot-
tle of rum in their luggage.

The friends videotaped them-
selves drinking the alcohol on
Sunday afternoon, and DiPiero
continued drinking until mid-
night, investigators said.

Friends of DiPiero last saw
him on the ship’s deck around
midnight on Sunday.

About two hours later — at
2.30am on Monday — shipboard
security cameras show DiPiero
falling overboard from a rail
near the front of the ship, inves-
tigators said.

DiPiero was first reported
missing Monday morning when
his friends realised he had not
slept in the cabin they shared.

Aircraft and vessels from the
US Coast Guard and the
Freeport’s BASRA office
searched 900 square miles of
ocean between Grand Bahama
and Coco Cay to no avail.

US sailors
repair
schools in
Antigua

@ ANTIGUA
St John’s

US sailors led high school

girls in calisthenics, rebuilt lunch -

benches and picked up trash on
Wednesday during their visit to
this two-island Caribbean
nation, officials said, according
to Associated Press.

The USS George Washing-
ton, a US aircraft carrier leading

>
>

- between educators and college |

UNION of Tertiary Educa-

tors of the Bahamas signed a
new industrial agreement with
the College of the Bahamas
yesterday that focuses on the
professional development of
its faculty as the college pre-
pares for its move to university
status. ‘
_ With the signing of this new
agreement, according to Dr
Rhonda Chipman-Johnson,
there will be new expectations
of faculty members with
respect to research and schol-
arship.

In the new agreement, fac-
ulty members will receive an
average salary increase of 17.5
per cent and a lump sum of
$4000, payable over a three
year period for the first two
years of the agreement.

Additionally, among other
incentives, they will be afford-
ed more professional develop-
ment opportunities, including
study leaves, paid sabbaticals,
and stipends of up to $1200 for
academic conferences.

Addressing the group gath-
ered for the signing, Education,
Science, and Technology Min-
ister Alfred Sears said that “the
signing of this agreement this

afternoon is the fulfilment of -

a mandate that I was given by
the Prime Minister to evolve

the College of the Bahamas
into a university.”

“The institution,” Minister
Sears said, “would personify
and represent a centre of excel-
lence in our region, in terms of
excellence of the pedagogy of
teaching and excellence of ser-
vice in providing informed pub-
lic commentary on all issues
confronting our society.”

The Minister added that the
college will provide and con-
stitute a repository of exper-
tise that would inform public
policy, as it will be made up of
intellectuals and scholars who
would engage in research to
illuminate the different social,
cultural, and political phenom-
ena in the Bahamas.

Joining Minister Sears at yes-





MFRA

NKLYN Wilson, chairman of the COB

terday’s signing, Prime Minis-
ter Perry Christie told the
group, “I expect that the pro-
fessors at the University of the
Bahamas would have a direct
impact, much more so than
before, in fact, an historic
impact on informing public pol-
icy. I see them as resource peo-
ple for this country.”

“IT believe when we look



council, smiles with Jeniffer Issacs Dotson
yesterday day at a union signing at the the college book store
(Photo: Felipé Major/Tribune staff)

Virus which closed school
still unidentified by experts

lm By MARK HUMES

THE district medical offi-
cer for Inagua and
Mayaguana Dr Modesto
Kapuno told The Tribune
that preliminary findings
link the mysterious illness
at the Inagua All Age
School to an airborne viral
disease.

However, the exact
nature of the virus has yet to
be determined.

As of Wednesday,

according to Dr Kapuno,
there were 75 cases where
residents — mainly school

ment is scheduled to travel to
the island this week to carry out
further tests, but Dr Kapuno .
said that the public has nothing
to be concerned about.

The All Age School with

remain closed today, giving
health teams time to have the

school properly cleaned and
sanitised before students return
on Monday.

Officials were forced to close
the school on Wednesday ‘aftér ©
students were hit by the’ tiryste-
rious illness.

Initial reports indicated that
the illness first began among
students in the middle and high

ness of the outbreak at the pri-
mary school this week that
prompted school officials to act.

The Department of Public
Health issued a statement on
Wednesday acknowledging “an
increase in the number of cases
of acute respiratory infections
in school age children between
the ages of five and 17 years old
in Inagua.”

It said that although the caiiseâ„¢

had not yet been determined,
most acute respiratory infec*~
tions in this age group are “due

’ to viruses such as Influenza A

and B and Respiratory Synctial
Virus.”

ee

about three to seven days.

The department said that no
one in Inagua was consigned to
hospital, no deaths were report-
ed and that the majority of chil-
dren have recovered.

“A team of epidemiologists
and surveillance officers will be
sent to Inagua to assist with the
investigation.

Lhe Ministry of Health and... ofl
‘National insurance will-issies"
further updates as sOGTPas Hew

information i8'made available,”
the statement said.

back in history,” said the Prime
Minister, “this will be a defining
moment in the history of this
country.”

o

vere

>

>?
>,?
» »

dustrial agreement made :

Dr Rhonda Chipman-John- , -, -
son told the faculty and UTEB?<*"

union members in the audience
that she looks forward to
greater productivity from them,
especially in the area of
research, and she looks for-
ward to their assistance in
building the University of the
Bahamas.

‘TV 18 SCHEDULE
FRI., MAY 19

6:30 Bahamas @ Sunrise
- live
Immediate Response
ZNS News Update - live
Immediate Response
A Special Report
Gumbo TV
Carmen San Diego
International Fellowship
of Christian & Jews
Paul Morton
Dennis The Menace
Carmen San Diego
ZNS News Update
Treasure Attic
Cybernet
Caribbean Passport
News Night 13
Bahamas Tonight
Da’ Down Home Show
The Envy Life

: 3 D’ Funk Studio
10:00 Caribbean Newsline
1 10:30 News Night 13

11:00 The Bahamas Tonight

11:30 Immediate Response

1:30 Community Pg./1540AM

SAT. MAY 20

| 6:30 Community Page
9:00 Bahamaaie’ Ganiee
10:00 Underdog

‘40:30 Dennis The Menace




11:00 Carmen San Diego
11:30 dennesses Tuxedo & His |
I canuenolale Wes sedition

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a two-month deployment to the students — experiented a__ school last week. The statement added that | so duce i tn wy 8 De ee
Caribbean, arrived Sunday in variety of symptoms such as However, it was the serious- __ viral illnesses typically last for feehaty :
Antigua for a six-day visit. They’ sore throat, fever, abdomi- : 2gs
SEE ee an aE cl BA GRIME’ eae clk aaa RU ay Teac ac
ian projects, such as fixing up and vomiting. <
schools and a cathedral, and no eee ens ae bees RBC ROYAL BANK OF CANADA
exercises with the country’s mil- already accumulated data ; Be Ne ey
itary were scheduled,. profiles of the cases and had Teo ese LE LF gg noe tale} ES ik a
He said they have met with ‘them sent to the surveil- 3
Antigua’s military and law lance unit at the Depart- san een heuer
enforcement officers. ment of Public Health. ee Manager.
Venezuelan President Hugo A team from that depart- 9
Chavez, a fierce critic of Wash-
ington, has accused the US mil- ate Human Resources
itary of trying to threaten the 1
South American nation with the aC tS Bahamas & Caribbean
naval exercises. Cuban Presi- F sees,
dent Fidel Castro accusing the FOR PEST PROBLEMS The successful candidate should possess the following ;
United States of trying to intim- PHONE: 322-2157 qualifications: F i
idate his country. : 7 ¢ University degree in Human Resource Management, ‘
Banking or Management (or a related field) ;
e Atleast 5 or more years of experience in Human Resources ;
in a Managerial Role. Banking experience would be an
asset ‘ i
Strong communications and interpersonal skills: includin
coaching, counselling, writing, negotiating and conflict
management. ye
Strong leadership (including change leadership) and oe a
problem solving wg : ;
Strategy development & organizational skills ul cacrasgenaaarn. Ban é ine, ;
Presentation/Training skills eee :
Microsoft Office skills (Word, Excel, Power Point) a ; , :
Significant travel required s i
Responsibilities include:
e Developing and executing strategic plans for the Human
Resource department to support Regional business
objectives for growth and profitability zr The Mall-at-Marathon
Developing the Bank’s Cash and non-cash Compensation Nace eee ee eae
See GT Deny NOV a Cees MAN 'Ls
Leading Human Resources Departments for Bahamas,
Cayman Islands, Barbados & Eastern Caribbean Islands |THE DA VINCICODE NEW | 1:00 | 3:50 | N/A | 6:50 | N/A | 10:20
(Total of eight countries) THEDAVINCICODE NEW § ;
Championing the succession planning programme THEOAUSLAEE wa
Responsible for developing and ensuring the execution OVER THE HEDGE NEW 4:00 | 2:50 | 4:40 } 6:30 | 8:25 | 10:30
of eter Raine eae = SA POSEIDON T 35 | NA | 6:10 | 8:35 | 10:55
neo coaching to employees both individually and JUSTMY LUCK B / ras | WA | 10:45
Developing and executing strategy for employee GOAL! THE DREAM BEGINS A N/ 10:40
relations/communication MISSION IMPOSSIBLE 3 C 4
A competitive compensation package (base salary & bonus) AN AMERICAN HAUNTING ¢
commensurate with relevant experience and qualifications. AKEELAH & THE BEE A
Please apply before May 26, 2006 to: : THE SENTINEL T :
| i Po feo Tm [a0 [ wa [a
The Manager ;
Human Resources SILENT HILL ¢_NA WA] WA [NA | 820 10:45
SES ee rea “GALLERIA 6 - JFK DRIVE
Y USE YOUR E-CARD TO RESERVE TICKETS AT 380-3649 OR WWW.GALLERIACINEMAS.COM
P.O. Box N-7549, Nassau, NP, Bahamas
Via fax: (242)328-7145 THEDAVINCICODE NEW] 1:00 | 3:50 | N/A | N/A | 7:00 | 10:00 |
Via email: bahcayjp@rbc.com HT OVER THE HEDGE NEW 445 | 3:25 | WA | 6:00 | 8:20 | 10:15,
OSEDON T_[+a0-[ 395 [wa | 620 [095 [1040
| MISSIONIMPOSSIBLE3_C__|1:00 | N/A | 4:00 | nwa | 7:10 | 10:10|
www.rbcroyalbank.com/caribbean RBE 7 A 1:20 | 350 | WAT 6:15 |
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estes ifr ooanhas Lan Oe _of Canada: AKEELAH& THEBEE A 1.25 | 345 | WA | 6:05 | 025 | 10:304 eee"
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PAGE 4, FRIDAY, MAY 19, 2006



tie CRT

Lath ASD



THE TRIBUNE ~



Te lane TO Te EDITOR

Cuba’s election to the

The Tribune Limited

NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI

Being Bound to Swear to The Dogmcs

rf ATA AA
vy ivy ivi SLEr

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

SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G.,

(Hon.)

[FIT EOD Rei tie

Publisher/Editor 1919-1972
Contributing Editor 1972-199]

EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B.

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1956
Advertising Manager - (242) 502-2352
Circulation Department - (242) 502-2387
Nassau Fax: - (242) 328-2398
Freeport, Grand Bahama: 1-(242)*352-6608
Freeport fa; (242) 352-9348



A glimmer of hope on US aioh tion

PRESIDENT BUSH slipped just enough
humanity into his national immigration
address to show this is one issue he seés with
complexity. After saying he will send the
National Guard to the borders and build new
fences and walls, he acknowledged that mil-
lions of people are in the US to stay and mil-
lions are still going to try to come to the US
to stay.

In calling for a temporary worker pro-
gramme, he talked about people who “walk
across miles of desert in the summer heat or
hide in the back of 18-wheelers to reach our
country.” He said “America is a more hope-
ful country” because of the work and sacrifice
of immigrant parents. He repeated the story
of Guadalupe Denogean.

Denogean rose from being a crop-pick-
ing son of a Mexican migrant guest-worker
family and from being a high-school dropout
to a 26-year career as a US soldier without
American citizenship.

’ His career ended with serious injuries in
Iraq. Moved by his story, the president and
Laura Bush went to the hospital to witness his
oath of citizenship. “Our new immigrants are
just what they’ve always been,” President
Bush said, “people willing to risk everything
for the dream of freedom.”

If Bush wants to push the human side of
immigration more properly, he can add some
things the next time. In the address, he
harped on the real or perceived negatives of

‘illegal immigration. “Illegal immigration puts
pressure on public schools and hospitals,”
the president said. “It strains state and local
budgets and brings crime to our communi-
ties.” He said nothing about benefits.
' President Bush left the evidence under-
neath his own Oval Office desk. He could
have used his own 2005 Economic Report
of the President. That report found that 58
per cent of America’s total employment
growth of 11 million workers between 1996
and 2003 came from the ranks of the foreign
born. Immigrants accounted for 84 per cent of
employment growth from 1996 to 2003 in
Indiana, Illinois, Michigan, Ohio, and Wis-
consin.

In talking about the massive drop of US-
born operators, fabricators, and labourers
and the massive rise of foreign-born workers
in those jobs since 1996, the report said, ”’ This
should not be taken as evidence that the for-
eign-born displace native workers; rather, it

reflects the fact that immigrants have made’

up all of the growth in the low-skiiled work-
force. As education levels rise among younger
US workers and older US workers retire, the
number of low-skilled natives is declining.”

The report said economic studies typically
find that “immigration has little effect on
native wages.” It said, “Immigrant workers
range from the seasonal agricultural labour-
er to the Nobel-prize-winning scientist. They
are the doctors and nurses who serve inner
cities and rural areas, the professors who
teach in our universities, and the taxi drivers
and hotel workers that travellers rely upon.
Immigrants also fill jobs that simply allow
Americans to go to work every day, such as
housekeeping and child care.”

Even taking into consideration the strain
that undocumented families place on public
schools and healthcare, the report said, “The
work ethic of US immigrants bolsters their
economic contributions. Summing up the
economic benefits and costs of immigration
shows that over time, the benefits of immi-
gration exceed the costs.”

One example of the benefits is in a recent
study of Latinos in North Carolina by busi-
ness professors at the University of North

Carolina. Nearly half of the state’s 600,000.

Latinos are undocumented. On the bare sur-
face, the costs might seem to exceed the ben-
efits. Latinos annually pay $756 million in
taxes but cost $817 million in education,
healthcare, and corrections.

But the study also found that Latinos had
a total direct and indirect spending impact of

‘ $9.2 billion in the state. The study said that

without Latino labour, “the output of the

state’s construction industry would likely be .
considerably lower and the state’s total pri- ©

vate sector wage bill as much as $1.9 billion
higher. Some of these labour-cost savings
keep North Carolina’s businesses competitive
while others are passed on in the form of
lower prices to North Carolina consumers.”

In his address, President Bush said, ““Amer-
ica needs to conduct this debate on immi-
gration in a reasoned and respectful tone.” If
the president has the courage to say to the
nation that the benefits exceed the costs, this
could be a glimmer in a gloomy presidency, a
critical issue where he actually came down on
the side of reason.

(This article was written by Derrick Z.
Jackson of the Globe Staff — c. 2006 The
_ Boston Globe).

Human Rights Council

EDITOR, The Tribune.

THE announcement that
Cuba’s election to the United
Nations Human Rights Council
was an “important victory” by
Cuban Ambassador Felix Wil-
son Hernandez is certainly no
occasion to celebrate. In fact, to
the contrary as Cuba tries to
legitimise its history of blatant
human rights abuses and breach-
es of most of the provisions of
the United Nations Universal
Declaration of Human Rights.
Under his own admission,
Ambassador Wilson Hernandez
has confirmed the oppression of
his own people by the Cuban
government. The restriction on
travelling abroad by Cuban citi-
zens is reminiscent of the days of
the “Iron Curtain”, that razor
sharp electrified barbed wire
with automatic machine guns
and killer attack dogs which had
descended across Europe for
almost nine hundred miles dur-
ing the Cold War. Unlike most
fortresses that are built to keep
invaders out, the Iron Curtain
like Cuba’s policy on Cubans
travelling outside Cuba was built
to keep its citizens in.

With no opposition, the mass-
es are subjected to the directives
of the government whose poli-
cies may contradict common
decency, observance of human
rights and due process or sim-
ply just ignore the Rule of Law
without any accountability. Any
individual expression or con-
trasting point of view could be
perceived as a challenge or a
threat. Consequently, it is simply
just not tolerated. Such individ-
uals are labelled as “enemies”
of the state or as in the case of
Cuba, “agents of the United
States!”

For their outspokenness, these
individuals all too often are con-
demned to serve lengthy prison
sentences in detention centres
that have not been inspected by
any credible international regu-
latory agency in almost 50 years.

Ambassador Wilson Hernan-
dez is quick to boast about the
progress of the Cuban society.
His measurement of progress
deals with improvements in edu-
cation, healthcare, social, etc, but
mentions nothing about the
quality of life. Progress has come
to Cuba, but at what cost? Does
the end justify the means? The
state of desperation of the
Cuban people is played out
almost on a daily basis in the
Gulf Stream. Any chance to get
out of Cuba, no matter how
remote the chance of success is
worth the risk even if it means
paying the ultimate price with
their lives. When you have noth-
ing, you have nothing to lose
attitude. Bahamians may never
understand the act that would
drive a mother to put her child
on a rubber tube in the middle
of the ocean in the hope that he
will land in America, as did the
mother of Elian Gonzales! Or,
the individuals who were exe-
cuted for trying to hijack a boat

LETTERS

letters@tribunemedia.net



to Florida, even though no
hostage was hurt or killed! Yet,
Ambassador Wilson Hernandez
has the gall to expect the
Bahamian people to understand
Cuba’s position on human rights.
Man, he must be “loco”!

How can Cuba understand the
concept of freedom of expres-
sion when there is only one
radio/TV station in the whole
country that is completely con-
trolled and censored by the
Cuban government? In addition,
Cuba “jams” or blocks out other
radio stations just so that the
Cuban people cannot hear
another side of a story. A recent
government organised demon-
stration protested some of the
Articles of the Universal Dec-
laration of Human Rights posted
on the wall of the United States
Interest Office in Havana.
Rather than protesting these
Articles, if Cuba was serious

_ about human rights, shouldn’t

they be trying to promote them?
Have you ever noticed that the
only demonstrations permitted
in Cuba are the ones that sup-
port government’s policy?

The Bahamas being a nation
with “Christian values” found-
ed on the principles of democ-
racy for its part should be lead-
ing the charge to ensure that the
Articles of the Declaration is
practised in whatever country it
does business with. It was insult-
ing to any decent Bahamian
when prior to the vote, Ambas-
sador Wilson Hernandez indi-
cated based on the “sucker”
/move in the form of education,
healthcare, social services, etc,
that he expected the Bahamas
to support Cuba in its quest to be
appointed to the Council.

The fact that Ambassador
Wilson Hernandez made such a
public statement on this matter,
the government of the Bahamas
should have stated its position.
However, according to press
reports, instead of a public
response, the Cabinet of the
Bahamas took a behind closed
doors vote on the matter as the
vote at*the United Nations was
also secret. With such wide-
spread speculation that the
Bahamas had in fact voted in
favour of Cuba, the Bahamian
Government led by Prime Min-
ister Perry Christie had promised
the Bahamian people “trans-
parency and accountability” in
government has remained mys-
teriously silent on this issue.

Many persons have also
expressed disappointment with
Foreign Minister Fred Mitchell.
Minister Mitchell has had a long
history of being involved in
human rights. This writer has
stood shoulder-to- shoulder on
many occasions, especially when
the question of fundamental
rights arose. By supporting

Cuba, is it reasonable to assume
that Minister Mitchell has aban-
doned his commitment to
human rights? Indeed, it was
Minister Mitchell who a few
years ago was so appalled by the
state of Cuban prisons that it
was due to his personal initia-
tives that the prisoner exchange
programme where prisoners
serve the rest of their sentence in
their own country was created.
Former Cuban prisoners have
indicated that despite the bad
reputation of Fox Hill Prison in
Nassau, it was an upgrade when
compared to those in Cuba.

Even more disappointing has
been the lack of a public stafe-
ment by the Bahamas Christian
Council. Maybe they are just too
busy dealing with personal crisis
among their members or looking
at their collection plates. They
had so much to say about moral-
ity when the “sissy” ships came,
but with a need for internation-
al morality, the church is not
speaking out. With the tradition
of religious oppression in Cuba;
this should have been a fae
brainer”!

Cuba’s attitude towards the
United States is like the story
out of that old colonial school
book series, The Royal Reader.
A student was accused by -thé
teacher of not keeping his eyes
on his book. The student imme-
diately retorted that another stu-
dent was not keeping his eyes
on his book. The Teacher
replied: “How do you know that
the other student’s eyes were not
on his book if you had your eyes
on yours”? Whenever Cuba is
accused of a possible breach of
the Declaration, its immediate
reaction is to justify its actions by
attacking possible breaches by
the United States. Cuba doesn’t
understand that two wrongs do
not make a right.

Finally, a decent world would
have no difficulty having Cuba
on the Council if there were indi-
cations that Cuba was striving
to implement the ideals of the
Declaration. Regrettably, Cuba’s
behaviour has been most dis-
couraging and human rights con-
tinue to be an illusion and a farce
in Cuba. Much of its support
may have come from third world
countries that were taken advan-
tage of with assistance of edu-
cation, healthcare, etc. Under
this wicked scheme, these unfor-
tunate countries, like the
Bahamas were coerced to sup-
port Cuba. Now genocide, tor-
ture, abuse of women and chil-
dren, etc in countries such as
Sudan, North Korea, Zimbab-
we may go unchecked, because
with Cuba on the Council, it can-
not throw stones as Cuba is a
human rights glass house.

DR LEATENDORE i
PERCENTIE DDS
Boston,

Massachusetts,

May 15, 2006.

Bahamas Bus & Truck Co., Ltd.
MONTROSE AVE.
PHONE: 322-1722 ° FAX: 326-7452

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Phone: 323-6452 ¢ 393-5798

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THE TRIBUNE



Cuba marks

anniversary
of biotech
programme

m:CUBA

piavana

CUBAN scientists on

Wednesday celebrated the 20th
anniversary of the island’s
biotechnology program by
introducing several new prod-
ucts, including one designed to
heal foot ulcers in diabetics,
according to Associated Press.

.Cuba’s communist govern-

ment has dedicated about US$3
billion over the past two
decades in Havana’s Center for
Genetic Engineering and
Biotechnology, said center
director Luis Herrera.

-sWith about 500 scientists and

another 1,000 workers, the cen-
temhas undertaken more than
SO@iprojects over the past two
degades, including the successful
production of several vaccines
now marketed worldwide, he
said.

-.jhe celebration came the
same day that new German
xesearch cast doubt on the effec-
tiveness of a sugar cane-based
ingredient originally marketed
in Cuba as a cholesterol treat-
nent.

yiBut Herrera said the

research, published Wednesday
inthe Journal’ of the American

@ By RUPERT MISSICK Jr
Chief Reporter

PLP Chairman Raynard
Rigby hit out at FNM Leader
Hubert Ingraham for his criti-
cism of government’s decision
to consider hiring 1,200 new
public servants.

Speaking with The Tribune
yesterday, Mr Rigby called the
former prime minister’s
remarks “immature”.

At a PLP mini-convention
earlier this month, Public Ser-
vice Minister Fred Mitchell
announced that the govern-
ment is looking into expanding
the public service by 1,200
employees.

Last weekend, Mr Ingraham
criticised this — saying the
money could be used to give
teachers what they need: pari-
ty in pay with other profes-
sionals in the public service.

Mr Rigby said that he was
disappointed by Mr Ingra-
ham’s statement, adding that
public commentary on issues
of national importance should
be made on a level above par-
tisan differences.

“You can have a difference
of opinion in terms of what
can be offered to them, but it
cannot be accurate to say that



RAYNARD Rigby

a government who made a
decision to employ 1,200 per-
sons in the public service (is
wasting money) — knowing
obviously why they are
employing these persons, what
role these persons will play in
the public service, and being

satisfied of the need for those :

people to come into employ-
ment at this time.

“We are not wasting money,
we are employing 1,200 people
who don’t have a job, who are
looking for a job and who have
the basic skills we need in the

: accepted

The PLP chairman also
denied that the proposal to
expand the service is an elec-
tion ploy to win votes.

“At the last convention in
November of last year, the
minister of the Public Service
indicated that the government
was going to hire, so all he is
doing is reconfirming that
commitment, which was in
November of last year,” the
party chairman said.

Mr Rigby described Mr
Ingraham’s comments as
“immature commentary by a
former prime minister”.

“Having served in the office
of the prime minister for nine
and a half years, one would
expect that he would under-
stand the dynamics of the
negotiations with the BUT,
understand what the implica-
tions are for the economy and
that we have to ensure the
future growth and develop-
ment of the country; that we
don’t wreck it by being reck-
less in the way we make deci-
sions and how they affect the

_ national purse,” the PLP chair-
man said.

Mr Ingraham said that when
the FNM was in office, they

the teachers’
premise, which was there was

FRIDAY, MAY 19, 2006, PAGE 5

Rigby criticises Ingraham for
comments on recruitment

no parity in pay in the public
sector for teachers with qualifi-
cations similar to those of other
public servants.

He said that his government’s
aim was to bring the teachers’
pay up over a period of time,
until it was in line with other
professionals in the public ser-
vice.

Mr Ingraham said that after
taking all relevant factors into
account, the former FNM
administration decided to seek a



fair and reasonable agreement
with teachers that showed
respect for and commitment to
the development of teachers in
the society, and to the payment
of a reasonable wage by the
government.

“As best as we can, we need
to increase their pay to ensure
that the good teachers remain in
the system to further educate
our students and we also know
that any increase has to be done
responsibly,” Mr Rigby said.



NOTICE

ThelMinistyloflSocialServiceslandiCommunity2Development
isipublishing(forlthelinformationDofithelpubliclanloverview
ofllalproposedinewlpiecclofillegislation, JThel(FamilylAnd)

ChildiProtectionfAct.

+

DO Seay Oem: ThelMinistry0willJcommencelalseriesloflpubliciconsultation

onltheproposedilegislationfonlTuesday,02301Mayl2006 tat
BCPOUDHall 0FarringtontRoad,llatl7:30p.m.

Disgruntled BIS staff told
to support boss or resign

DISGRUNTLED staff at
Bahamas Information Ser-
vices have been told to sup-
port their new boss or

Medical: Association, required
further study. “We have to see
what the results were and if the
research was well done,” he
said.

Dominican
migrants
found off
Puerto Rico

Thel/MinistryJinvitesithelviewsloflthellpubliclonithelproposed
legislation.

Personsldesiringlalcopylofithelfullltextimaylobtainithelsame
fromlTheJMinistrylofUSociallServicesJandiCommunity
Development.JFredrickfHouseJFredrickiStreet IThelDepartment .
offSociallServices,JClarencelBaini Building {Thompson
BoulevardlorlThelDepartmentlofiRehabilitativelWelfare
Services,JThompsonlBoulevard.

nalist whose career went back
to the 1960s.

Staff said Mr Ellis, formerly
employed by Hansard, the offi-

“Staff got the impression that
Mr Ellis will eventually end up
reporting to this woman,” said
the source. .

MUST SELL

Goon Investment OpportUNITY

Ws fet resign. cial parliamentary record, did
‘@ PUERTO RICO Tourism Minister Obie not have the experience to fill
_ San Juan Wilchcombe “read the Riot __ the role satisfactorily.

However, Mr Ellis told The
Tribune that the agency’s pro-
duction had expanded since he
took over. He expressed sur-
prise that anyone should be dis-
contented:

Last night, the government
was accused of cronyism in pro-
moting Mr Ellis. Critics claim
his family had close links with
Bimini — part of Mr Wilch-
combe’s constituency.

“Staff thought it offensive
that 86 per cent of them should
express no confidence in this
fellow, and then have him
rammed down their throats,”
said the source.

At the meeting, Mr Wilch-
combe introduced a Jamaican
woman consultant who, it is
thought, will ultimately take
over from Mr Ellis.

The consultant is reviewing
BIS activities at the moment
and will suggest improvements.

Act” to journalists and oth-
er workers at an emergency
meeting on Wednesday,
according to sources.

“Tt was a take it or leave it
situation,” a source told The
Tribune. “He told staff to
either support their boss or
hand in their resignation.”

The meeting came after
staff petitioned for the
removal of BIS director.
Edward Ellis, claiming he
was unsuitable for the job
and treated employees “like
pieces on a chessboard.”

But Mr Wilchcombe
made it clear during his no-
nonsense speech that Mr
Ellis was not going any-
where, and that dissenters
were unwelcome.

“PUERTO Rican police and
‘the US Border Patroi detained
‘eight: Dominican migrants after
they reached this US Caribbean
‘tertitory’s northern coast'in a
ri¢kety boat, officials said,
-aceording to Associated Press.
«2? Police said Wednesday they
idetained six of the migrants in
Manati, about 30 miles west of
‘the island’s capital of San Juan.
US Border Patrol agents arrest-
edthe othertwo, police said.
Thousands of Dominicans
have risked the journey across
‘the rough Mona Passage in
-search of better prospects in
Puerto Rico, just 70 miles to the
east. The Dominican Republic
has been emerging slowly from
a: punishing economic recession.

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- For conditions of the sale and any other information, please contact:
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Interested persons should submit offers in writing addressed to:
The Commercial Credit Collection Unit, P.O. Box N- 7518, Nassau, Bahamas
to reach us before June 15, 2006.

ea : The showdown came

Tea REE Rossi
Fertilizer, Fungicide,
Pest Control

after the minister received a
letter saying staff had no
confidence in their leader.
Mr Ellis became director
of the government media i ‘
agency two years ago after \

=" | OCT A)THE POWER TO SURPRISE

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THURSDAY JUNE iST

DEPT. NASSAU 1:00PM

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PAGE 6, FRIDAY, MAY 19, 2006

THE TRIBUNE



LOCAL NEWS



Dominican president’s party appears set for big gains —

@ SANTO DOMINGO,
Dominican Republic

PRESIDENT Leonel Fer-
nandez's party was poised to
make significant gains in Con-
gress in the Dominican Repub-
lic's first legislative elections
since he took power, accord-
ing to the latest results Thurs-
day, according to Associated
Press.

With 1.5 million votes from
Tuesday's election counted,
Fernandez's Dominican Lib-
eration Party appeared to lead
in about 60 percent of the
races, although elections offi-
cials said many were still too
close to call.

The party currently has just
one senator in the 32-seat Sen-
ate and about a quarter of the
seats in the House. On Thurs-

IMPORTANT

NOTICE
SERVICE INTERRUPTION

day, it had 50 percent of the
national vote and was ahead
in races for 19 of the Caribbean
nation's 32 provinces, accord-
ing to the electoral commis-
sion.

But the commission said just
a few hundred votes separated
races in several provinces. In
Pedernales, which borders
Haiti, Fernandez's party led by
just nine votes.

”

From 11 p.m. on Saturday 20th May
to 8 p.m. Sunday 21st May 2006.

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during the times listed above while we conduct routine
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@ MALNOURISHED children and their mothers sit together awaiting food and medication in the |
small town of Madaroufa 32 kilometers (20 miles) from Maradi, Niger in this 2005 photo.
(AP FILE Photo/Schalk van Zuydam)

Children’s event

to raise money ©

for crisis in Niger

THE proceeds from a chil-
dren’s event being held in
Nassau this weekend will be
donated to the fight against
the ongoing health crisis in the
central African nation of
INISCiy ee

The event, “Family Festivus:
tiny tots day out!” is being
held this Sunday, 21 May at
the Botanical Gardens
between lpm and Spm.

Tickets are available at
Logos Bookstore in the Har-
bour Bay Shopping Centre, at
the Global United (GUL)
Store in Sandyport or
by We ( familyfestivus@yahoo.com.:

Niger, a country nestled
between Algeria, Chad and
Nigeria in Africa, is battling
severe malnutrition among its
population.

On top of the high death
rate from starvation, the coun-
try is now in the throes of a

meningitis epidemic.

Nigerian children are the
most vulnerable and are dying
in at a rapid rate.

One in five children under
the age of five and almost one
in three children under 20
months of age suffer from
acute malnutrition.

Niger is one of the poorest
countries in the world and par-
ents can do nothing to save
their children.

International appeals for aid
by the UN have been poorly
met.

UNICEF and Doctors
Without Borders are both
providing services to combat

the acute malnutrition and

meningitis epidemic.
Doctors Without Borders
have set up a network of
ambulatory feeding centres in
the worst hit areas. Each
week, children at these cen-
tres receive medical care and a

therapeutic food supplement, i
In February, Doctors With=.j

out Borders also launched'a
massive meningitis vaccina>

tion campaign. Without treat»,

ment, 50 to 80 per cent ‘of:

those who develop active

meningitis will die.

The Family Festivus is beitig”

held to raise money to help

Doctors Without Borders and |

UNICEF with their work: to:

save the children and families i

of Niger. re

Organisers say the event! As.
an opportunity for our young:

children and families to have. i

fun and at the same time raise, '

money for the Niger crisis:
All of the activities ate
aimed at young children: pony
rides, bouncing castle, face
painting, tiny tunes and cer
tots’ gymnastics.
There will also be games

and activities for the family to »

participate in together.

GOVERNMENT NOTICE
MINISTRY OF IMMIGRATION, LABOUR & TRAINING

THE MINISTRY OF IMMIGRATION LABOUR and TRAINING,
BAHAMAS TECHNICAL and VOCATIONAL INSTITUTE (hereafter
called the Purchaser) now invites sealed bids, from suppliers for the following:-

THE SECURITY SERVICES OF SCHOOL CAMPUS GROUNDS.
THE MAINTENANCE OF SCHOOL CAMPUS GROUNDS.
THE RENTAL & MAINTENANCE OF COPIERS FOR B-T.V.I.

CAMPUS.

THE RENTAL & MAINTENANCE OF SANITARY DISPOSAL’
UNITS FOR ALL FEMALE BATHROOMS ON SCHOOL CAMPUS.

Interested Bidders may inspect CAMPUS between the hours of 9:00am + f+
to 4:30pm, Monday through Friday. Collection of specifications and
bidding documents can be obtain from the Accounts Section of BT VI,

Old Trail Road, Wednesday, 3rd May, 2006.

Bids must be in English and should be enclosed in duplicates in a sealed
envelope bearing no identity of the bidder and endorsed with the subject
bided on (“Security of BT VI Campus”).

Bids must be deposited in the tender box provided, at the first address,
on or before Friday, 26th May, 2006 by 4:00pm (local time). It will not
be necessary to submit bids in person since they may be sent by mail.
Late bids will be rejected and returned unopened.

Bids will be opened at the public ceremony, in the presence of those
Bidders or their representatives who choose to attend, at 10am on
Tuesday, 29th May, 2006 at the first address below.

(1)

The Chairman Tender

Ministry of Finance
Cecil Wallace Whitfield
Cable Beach

P.O. Box N-3017
Nassau, The Bahamas
Tele: (242) 327-1530
Fax: (242) 327-1618

Accounts Section
Bahamas Technical & Vocational Institute
Old Trail Road

P.O. Box N-4934
Nassau, The Bahamas
Tele: (242) 393-2804

The Ministry reserves the right to reject any or all Tenders.





INe imMipviIne





Trinidad
aims to up
trade with
S America

@ TRINIDAD
Port-of-Spain

TRINIDAD and Tobago
must develop closer relation-
ships with Latin America to
diversify its oil- and gas-driven
economy, the country’s trade
minister said Wednesday.

Speaking at a convention
organized by the twin-island
nation’s manufacturing associa
tion, Trade Minister Kenneth
Valley said Trinidad has already
increased trade with Costa Rica
and Cuba.

“We see the integration of
our economy into Latin Amer-
ica as a critical objective,” Val-
ley said. “The government is
not going to rely on the current
windfall of steep oil prices.”

Anthony Smallwood, the
head of the European Commis-
sion’s delegation in Trinidad,
said the trade objectives with
Latin American countries are
within reach and would make
the Caribbean country more
competitive.

“Although it is ambitious, we
see this aspect of Trinidad’s for-
eign and trade policy as sensi-
ble,” Smallwood said.

“Latin America cou!d be the
locomotive to promote positive
growth for Trinidad’s manufac-
turers,” said Esteban Perez, and
economist with the U.N. Eco-
nomic Commission for Latin
America and the Caribbean.

INSIGHT
For the stories.
behind the

news, read
Insight on

eat al





@ ACTOR Sidney Poitier, left, poses with his wife Joanna
Shimkus after being awarded Commander in the Order of the
Arts and Letters by France's Minister of Culture Renaud
Donnedieu de Vabres ;

(AP Photo/Francois Mori)

FRIDAY, MAY 19, 2U0U6, PAGE /



Poitier’s top award in France

m@ FRANCE
Cannes

FRANCE gave Sidney Poiti-
er its highest arts honor at the
Cannes Film Festival, where the
culture minister praised the
Oscar winner for tearing down
barriers for black actors in Hol-
lywood.

Poitier, 79, was named a com-
mander in France's order of arts
and letters Thursday. In 1964,
he became the first black per-
former in a leading role to win
an Academy Award, for "Lilies
of the Field."

"You-are the champion of
equality between men," Culture
Minister Renaud Donnedieu de
Vabres said.

Poitier thanked his par-
ents, who were field work-

ers in the Bahamas, for giv-

ing him a sense of honesty,

MP makes appeal to
review land rights

@ By KARIN HERIG
Tribune Staff Reporter

SEEKING to give all
Bahamian landowners clear
titles to their properties, Philip
Davis, MP for Cat Island, Rum
Cay and San Salvador, has
appealed to parliament to rein-
state a committee to review all
matters pertaining to com-
monage and generation land.

Addressing his fellow par-
liamentarians during this
week’s sitting of the House of
Assembly, Mr Davis said it is
the government’s duty to
ensure that landowners have
clear titles to their land.

“It would be irresponsible for
us as leaders to allow the state
of commonage and generation
lands to continue as they are.
Many Bahamians are in pos-
session of these lands and some
are indeed living on them. But

. these people are not the owners

of these lands in the truest
sense of the word,” he said.
Mr Davis, chairman of the
committee, said that decades
and centuries ago, no one

could have foreseen that the
Bahamas would end up with
this hybrid type of land own-
ership.

“Tam sure the original own-
ers intended their inheritors to
have maximum benefit from
the lands they left for them,”
he said.

Mr Davis said that the com-
mittee would like to come up
with a formula whereby people
who are entitled can have clear
title to their land.

“This would enable them to
use their lands in the same way
as every other land owner in
this country. They are the own-
ers of these lands and as such
they should have all of the

benefits of owners. With clear’

title they would be in a better
position to develop their land,”
he said.

As is stands, Mr Davis said,
there are many people who
inherit plots and lands, but are
not in a position to develop
them because they do not have
clear title.

“The banks are not pre-
pared to allow them to borrow

Pena:
OFFICE CLOSURE

To Our Valued Customers

Please be advised that our Independence
Drive, Carmichael Road and Rosetta Street
offices will be closed on Friday May
19th from 9am to ipm for the
Company’s Annual Awards Ceremony.

In addition our Freeport and Exuma offices
will be closed from 9 a.m. to 5 p.m.

We apologize for any
inconvenience caused

Established 1920

monies against these lands and
so the land remains dormant ~
dormant, not for lack of inter-
est but rather for the lack of
the means to develop it.”

He said the committee’s
work is especially important
because of the ever-increasing
cost of land in the Bahamas.

“Tf we give clear title to
these Bahamians it will benefit
them a great deal and it will
cost us nothing. We owe this

much to the Bahamian peo-
ple,” he said.

The committee was first
appointed in November, 2004,
and has since then collected
information and documents
from the Department of Lands
and Surveys and the Depart-
ment of Legal Affairs.

Mr Davis said he foresees
the need for the committee to
also travel to some Family
Islands in the ‘near future to
hear concerns and receive the
suggestions of the islanders.

To meet the country’s imme-
diate needs in land administra-
tion and land information man-
agement, the government has

2006
FIESTA
$15,500.00

PART OF YOUR LIFE

integrity and compassion.
He also thanked the directors
who broke convention to hire

him, calling them "men who
chose to change that pattern
because it was not democratic, it

KEMP’S FUNERAL HOME LIMITED

22 Palmdale Avenue, Palmdale
Nassau, N.P., The Bahamas

A FUNERAL SERVICE |

ARNOLD JOHN
AGEEB, 72,
Better known as
“Chic”

of Love Beach, Nassau,
The Bahamas died
peacefully at his home on
Saturday, 13th May, 2006,
will be held at Sacred Heart
Roman Catholic Church,
Shirley Street, Nassau on
Monday, 22nd May, 2006
at 11:30am. Monsignor
Preston A. Moss will
officiate and interment will follow in the Catholic Cemetery,
Infant View Road, Nassau.

















Arnold Ran Arnold's Dept. Store on Bay Street for well over
thirty years and was an avid fisherman and gardener. He loved
being outdoors - either in his boat with his line and a cup of
coffee or out in the yard with his banana and pear trees and
his tomatoes and mangoes. But even more so he was a man
who loved his wife and children passionately and fully. Corned
beef and grits in the morning and steamed conch in the evening
made him a happy man and a slice of raisin pound cake or his
sister Gloria's bread pudding for dessert sent him over the
moon. He always had juicy fruit gum in his pocket for the
children and a box of chocolates for every occasion.












He was predeceased by his parents John and Mary Ageeb
and his sisters, Gloria and
Theresa Ageeb.





Mr. Ageeb is survived by his wife, Dr. Gloria Ageeb; 2
daughters; E.J. Maria Ageeb and Lupita Ageeb-Rolle, 3 sons,
Jose, Thomas and Antonio Ageeb; 2 grand-daughters, Jazmin
and Lizbeth Ageeb, 2 grandsons: Shelton and Jonathan Ageeb-
Rolle; 3 brothers: Anthony, George and Charles Ageeb; 2 sisters,
Kathleen Winchell and Rosemary Ageeb; 1 son-in-law, Shelton
Rolle and 1 daughter-in-law Elizabeth Ageeb; 2 nieces Angelique
Priore and Michaelene Ageeb; 8 nephews, Bernard, John,
Gregory, Ashley, Mark, Edward, Brian & Christopher Ageeb; 6
great-nephews, Joshua, Thomas, Joseph, Andrew, and Jordan
Ageeb & Michael Priore and 6 great-nieces Heather Priore,
Stephanie, Rebecca, Dana, Erin and Jenna Ageeb and 2 sisters-
in-law, La Verne and

Karen Ageeb.


















Relatives and friends may pay their last respects at Kemp's
Funeral Home Limited, Palmdale on Friday, 19th May, 2006
from 4:00pm to 6:00pm.

2006
ECOSPORT
$18,995.00

THOMPSON BOULEVARD » TEL.: 356-7100 ¢ FAX: 328-6094

EMAIL: friendlymotors@hotmail.com ¢ WEBSITE: friendlymotorsbahamas.com





oe itt wee ey. Beevers tre eet eo eee Bee ee eee! le cee Ce ee ee

PAGE 8, FRIDAY, MAY 19, 2006





ALFRED, SARGENT
AND CHURCH’S

eT
a. ea
coe

TENG UME



FINEST HAND CRAFTED
ENGLISH SHOES.



AS the election season heats up, certain
MPs are beginning the mad dash to their con-
stituencies with the hope of being given
another chance. However, many are unde-
serving of being re-elected for another parlia-
mentary term.

In anticipation of the Bahamas’ next
dramatic political showdown, I’ve decided to
examine the electoral status of current MPs -
in New Providence, Grand Bahama and the
Family Islands - in a three-part column
spanning three weeks. This week, the
re-election chances of MPs serving Family
Island constituencies, some of whom have
long treated their constituents as “potcakes”,
will be scrutinised.

Due to Bimini being attached to a profile
that includes West End, Grand Bahama,
Tourism Minister Obie Wilchcombe is first
under the electoral spotlight.

As an MP, Mr Wilchcombe has been
superlative, genuinely interested in his
constituents, even dropping everything to fly
and stay among them during times of tragedy
and adversity and hurricanes. He has also
sought to bring investments to West End and
Bimini. In his capacity as tourism minister,
arrivals have increased, a tourism policing
unit has been established and. major investors
have become interested in the Bahamas.

Obie Wilchcombe is, I feel, the future of
the PLP and a prospective prime minister.
His attributes and the uncontroversial/
unsullied style make him a “shoo-in” to win
his seat. He is one of three MPs I consider
unbeatable — whoever is running against him
should prepare to lose their $400 deposit!

Hubert Ingraham, MP for North Abaco, is
also unbeatable. As Abaco can be
considered “FNM country”, and having won
the seat for three decades, it is unlikely that
Abaconians will now abandon their political
shepherd.

While North Abaco sources say they
consider Mr Ingraham a good
representative, more than anything, the for-
mer PM’s experience and political skills will
earn him another term.

As South Abaco MP Robert Sweeting is «
reportedly considering retirement, it would
be interesting to see the candidates poised to
contest his seat.

It is widely speculated that the FNM will
run ex-PLP senator Edison Keyes in this seat.
If so, his odds of winning are high.

In North Andros and the Berry Islands,
Vincent Peet should look to take a spanking
at the polls. Recently, Mr Peet has been seen

| promoting the construction of a sub-division

and the renovation of an athletic track and a
dumping site.
However, the Financial Services Minister’s

THE TRIBUNE



last minute vote-getting initiatives may prove
fruitless. According to North Androsians, he
has performed poorly as an MP.

Mr Peet’s disappointing tenure as
immigration minister and the Western Air
fiasco have prompted several North
Androsians to state that, come election time,
the crabs will be crawling and Mr Peet will
faint in the heat of defeat.

Whitney Bastian’s chances of retaining
South Andros are bright. As an independent
MP, he is most outspoken and has fervently
lobbied for the people of South Andros.

From my perspective he has done a
comparable, even better job, than the official
opposition in challenging the governing PLP
in the House. However, in this season of
intense party politics, he may wish to
consider joining a party.

In Cat Island, Rum Cay and San Salvador,
Philip Davis may likely retain his seat.
Recent undertakings in Cat Island and the
groundbreaking of the Montana
development in Rum Cay have heightened
Mr Davis’ likelihood of recapturing these
constituencies. However, more could be done
for San Salvador.

Speaker of the House and MP for South
Eleuthera James Oswald Ingraham and
Exuma MP Anthony Edwards are both likely
to lose their seats. Neither Mr Ingraham nor
Mr Edwards have been highlights in their
respective roles as House Speaker and
Deputy Speaker, and sources in both
constituencies have said a groundswell
motioning for change is underway whenever
the election bell rings.

V Alfred Gray, MP for Mayaguana,
Inagua, Crooked Island, Acklins and Long
Cay, will be voted out. He has performed dis-
mally as a minister and, according to con-
stituents, has performed dismally as an MP.

Well-placed sources state that Mr Gray,
who won in 2002 by a mere four votes, should
look to be beaten by proposed FNM
candidate Dion “The Bruiser” Foulkes.

Lawrence Cartwright, MP for Long Island’
and Ragged Island, has also performed 3
abysmally. Mr Cartwright’s election has not

done much for local affairs and development‘ |“!

on the island, particularly the north.

Mr Cartwright was well aware that joining
the FNM would increase his electoral
chances in Long Island, so he may recapture
his seat. .

e Next week, IJ’ll examine the re-election
odds of New Providence MPs. The PM must
consider dividing Long Island into two seats!

ADRIAN GIBSON |:

ajbahama@hotmail.com

Bank of The Bahamas |
INTERNATIONAL
“A growing and dynamic Bahamian institution”

VACANCY FOR THE POSITION OF: sf
EXECUTIVE ASSISTANT, HUMAN RESOURCES - :

Core responsibilities:.

Knowledge of Human Resources to effectively carry out all HR

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Serves as payroll officer; conduct necessary calculations associated
with payrolls such as insurance premiums and staff loans
Complies and prepares statistical reports and other data needed for

external and internal audits

Preparation of accounting entries to complete various HR transactions.
Coordinates Pension administration
Completes administrative functions like the accurate typing of offer |

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Maintains personnel files

Knowledge, Skills, and Abilities:

Strong desire to work in Human Resources;

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Excellent interpersonal skills

Three years Human Resources experience
Associate Degree or Banking Certificate

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Benefits include: Competitive salary (commensurate with
qualifications); group medical, vision, and life insurance; attractive .
package and a pension scheme.

Send resume to:

The Manager, Human Resources and Training
Bank of The Bahamas International
P.O. Box N-7118
Shirley Street
Nassau, Bahamas

Deadline: May 26, 2006





Sp



THE TRIBUNE



Ingraham

FROM page one

“The residents expressed concerns :
about the purported disposal of all the :
Crown land and land owned by govern- :
ment, which amounts to some 126 acres,” :
Mr Ingraham pointed out. “They are of :
the view that the government gave away :
all of that land and that they have no :
more public land on the island. :

“Tf that were so then they would be :
justified in their concern,” he added. :
“There is some evidence to suggest that :
the government may not have given }
away all of the land. i

“We have also gotten the impression :
from the developers regarding the :
amount of Treasury land they got, that it
may be that they could review that and :
possibly settle for a lesser acreage than :
they have gotten.” i

Regarding land granted to the devel- :
opers to be held as a preserve, Mr Ingra- :
ham suggested to the developers that :
they engage more fully the Bahamas :
National Trust in planning and consid- :
erations on how the land can be best :
preserved and protected. i

Highlighting several of the residents’ :
other concerns, Mr Ingraham pointed :
out that the developers have agreed to :
make their EMP and EIA available to :
Michelle Bethel, an Abaco environ- :
mentalist who accompanied him and his :
colleagues on Thursday’s tour of the pro- :
posed development. ;

He said Guana Cay residents :
expressed concerns about how the devel- :
opers would handle land currently leased :
to them (Joe’s Creek), which is a tradi- :
tional area for crabbing. :

The residents also expressed concern :
about a potential disruption of shore- :
line nesting areas for turtles and about :
potential environmental runoff from the :
project’s proposed golf course. 4

“They believe there will likely be reef :
damage by golf course runoff,” Mr Ingra- :
ham noted. “The developers seem to :
have gone a long way to minimise that :
from happening and if appropriate inde- :
pendent monitoring could be established :
they could go a long way toward allaying :
the residents’ concerns.” i

The FNM leader also pointed out that :
from‘all indications, the project’s marina :
is going to be an environmentally friend- :
ly facility. :

Mr Ingraham acknowledged that :
there are some residents who are :
opposed to the development and would :
prefer not to have one of its size on Gua- :
na Cay because the island has full :
employment. i

“When I was invited to view the devel- :
opment and hold discussions with the :
developers I took advantage of that (invi- :
tation) and brought along my col- :
leagues,” he said. “(After meeting) with :
the residents of Guana Cay to hear their :
concerns and (after relaying) those con- :
cerns to the developers, we think that :
it’s possibleifor many of the concerns to }
be satisfactorily resolved.” :













Speakers:














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CPE Hours: 4.5 (BICA Approved)

FROM page one

are forced to do so,” she warned.

During a press conference held
on Monday by the Grand
Bahama Human Rights Associa-
tion, Ms Baptiste claimed that
infants born to Haitians in the
Bahamas died at the Carmichael
Road Detention Centre after
being refused health care.

She also stated that Haitians
living in the Bahamas for more
than 40 years have also been
deported from the country.

Ms Baptiste stated that in
March, 2001, the Bahamas goy-
ernment signed a heads of agree-
ment with the United Nations in
which the country declared that it
would root out all acts of preju-
dice among mankind.

The Bahamas, she said, made
a commitment to the UN when it
signed a declaration on Toler-
ance and Diversity, a Vision for
the 21st Century.

FROM page one

LOCAL NEWS

Immigration

She noted that even though
Immigration Minister Shane Gib-
son was not elected to office at
that time, Prime Minister Perry
Christie was a parliamentarian,
and was aware of the contract
which was signed by the
Bahamas.

“Why would the Bahamian
government sign such a heads of
agreement and not live up to the
terms of the agreement? What
has happened in five short years
for the Bahamas to forget that
they signed this agreement with
the UN?” she asked.

Ms Baptiste said a few weeks
ago that Prime Minister Christie
said on national TV that many
persons will be crying after Shane
Gibson starts implementing his
new immigration policy.

“We want the prime minister
to know that, yes many persons

are crying now. But, don’t worry,
he and many of his fellow PLPs
will be crying later,” she said.

She called on Minister
“Shame” Gibson to re-evaluate
and revisit these so-called new
policies that he is seeking to
implement, and seek wise coun-
sel before he gets the country
into further trouble with the
international community by
demonstrating that he and his
government are not leaders who
are able to keep their word and
speak the truth.

FNM leader Hubert Ingraham
has also criticised the PLP gov-
ernment for the recent “round-
up” of legal and illegal Haitians
in Eleuthera, and called on the
government to return to “inter-
nationally accepted” standards
and norms in the apprehension of
illegal immigrants in the coun-
try.
Grand Bahama Human Rights
president Fred Smith has blamed
the prime minister, police com-

Bozine Town

lution to it and that is what we intend to do,” Mr

Miller said.

Residents have described the Supreme Court’s
ruling in the Bozine Town case a “dangerous
precedent” for the Bahamas and said that they feel
betrayed by the failure of consecutive govern-
ments to establish a proper land registration sys-

tem.

The Supreme Court last week ruled that the
residents have no legal title to the land on which
some have lived for more than 50 years.

The area has been the site of a massive land dis-
pute since October, 2004, when the 500 or so res-
idents received letters from.the law firm of Lock-
hart and Munroe, informing them that its clients,
the Harrold Road Land Development Company,

FROM page one

or list any names as yet. How-
ever, he suggested it could
grow much larger as the oper-
ation continues.

Mr Rolle estimated that the
round up of vehicles would
take another two weeks, and
that although the vehicles were
expensive, they were still, in
fact, “used”.

“This is a case of under-val-
uation. They were declared, but
improperly so. Anything upon
which the full duty was not paid
is classified as un-customed
goods. As a result we have all
rights to hold or detain these
vehicles to ensure that customs
formalities are set aside,” he
said. |

Mr Rolle said he wanted this
exercise to be an example, also
a warning to any unscrupulous
business person who wished to
defraud the customs depart-
ment or the government.

IIA Institute of Internal
Auditors -Bahamas Chapter

Presents a Half Day Seminar On:

Corporate Governance &
High Impact Auditing

Hubert Edwards, CPA
Edgar O. Moxey, FCCA, MIA, CFE
Date: Thursday May 25th, 2006

Time: 8:30 a.m. - 2:00 P-M..(Continental Breakfast & Lunch included)

Cost: $100.00 Members / $110.00 Non Members

‘Contacts: Edgar O. Moxey Jr. 302-1449;
Sandra Butler 322-6525 or
Jasmin Strachan 502-6235

Please register early to secure your seat, and to
assist us with our arrangements with the hotel.

‘Luxury’
“This can serve as a warning
to those not only in the car
business but all those who
import goods and undervalue
them and believe that after
they leave the customs area
that they are home free. Or
even those who may have
avoided what the border con-
trols are, we want to make it
clear that we still have the right
to come back and seize the
goods if the full duty has not
been paid,” he said.
Reportedly the cars were

imported into the country ina |

regular fashion. However, it
was claimed that the true value
was not given.

It is the innocent third par-
ties, Mr Rolle said, who bought
the cars who will suffer initial-
ly as the vehicles can be sold
by customs to anyone in the
country and the monies
deposited directly into the



(LANDCO) had been granted certilicates of title
to property between Bozine Town, Knowles Dri-
ve and Harrold Road.

The residents fought back by organising a steer-
ing committee, staging demonstrations and raising
funds to secure legal counsel for the Supreme
Court case against the development company.

However, the residents were dealt a major blow
this week when Justice Jeanne Thompson ruled to
dismiss the action against LANDCO.

However, when the issue first started Mr Miller
said that no one would be displaced, and that
government will do what is in the best interest of
the people of Bozine Town and Knowles Drive.

vehicles

Treasury.

*Nevertheless, our concen-
tration for the time being is to
ensure that the item itself, on
which full duty has not been
paid, is seized by us and the
necessary formalities taken care
of later.

“Once something has been
forfeited to the government no-
one has the right to it. We can
sell it for the full value of the
item and those monies would
go directly to the Treasury. No-
one has a claim,” he said.

It is with this tactic Mr Rolle
said that he hoped that pres-
sure would be placed on those
persons “doing foolishness” to
compensate those they had ini-
tially defrauded.

Initial reports indicated that
so far 37 vehicles have been
confiscated. However, Mr
Rolle would not confirm this
figure.








FRIDAY, MAY 19, 2006, PA‘

a ts nm alec a

missioner and immigration min-
ister for what he called recent
inhuman and degrading treat-
ment and abuse of Haitian immi-
grants in the Bahamas.

Mr Smith beheves that immi-
gration should not be a criminal
issue, and added that the associ-
ation is promoting the process of
legalising and not criminalising.

He pointed out that Haitians
provide inexpensive, transient
labour, especially when so many
anchor projects are coming on
stream in the Bahamas.

Ms Baptiste said that there is
no facility to accommodate immi-
grants in Haiti, and elsewhere,
wanting to apply for immigration
work permits in their respective
countries.

“Will the minister kindly tell
us where in Haiti can an immi-

Quality

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grant go to apply tor a wo
mit? Who can they see
the address and phone nun
the immigration office in |
any other country f
matter that is handling t!
ters?

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THE TRIBUNE

PAGE 10, FRIDAY, MAY 19, 2006







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|







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The MLO ae

STORY SO FAR: On the day of

* Elk Valley School’s final exams, it
* was pouring rain. Ida, worried, not
- concentrating on the road, drove the

car off the road.

“We going to miss the exams?”

“Probably.”

Ida peered out through the wind-
shield. It was so spattered with
leaves and mud she couldn’t see any-
thing.

Suddenly there was a knock on the
side door. Felix and Ida jumped. Ida
looked to her right. Tom was stand-
ing there.

“What’re you doing?” he asked,
grinning. “Playing hooky?”

Ida didn’t know whether to laugh
or cry.

“Want a lift to school?” Tom asked.
“Old Ruckus can carry us all.” __

They were the last ones to get to
school, but Miss Sedgewick had not
yet arrived. Herbert had crawled in
through the window and opened the
door. Now Ida led in the rest.

Ida looked around. Natasha had lit
the lamps. Herbert had started the
fire. The room was neat save for a
few muddy footprints on the floor.

“Thank you, everyone. Let’s take
our seats.” :

Ida went to the teacher’s desk and
made sure that sharp pencils were
ready and that the blackboard was
clean and supplied with chalk.

There was a knock on the door.
Felix ran to open it. It was Miss

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her purse, she carried a briefcase and
an umbrella. “May I come in, Miss
Bidson?” she asked.

“Yes, please. And I’m just Ida
today.”

Miss Sedgewick looked at Ida.
“Have you been swimming again?”
she asked.

“The rain,” Ida said lamely.

Because of the weather there was
no flag raising. Ida found her old
place in the back row next to Tom.
He gave her a smile. Full of tension,
she smiled back, barely. Miss
Sedgewick opened her briefcase.
“There are two parts in your exams,”
she announced to the students.
“There are written sections” — she
held up some little booklets — “and
then there will be recitations and
board exercises. When I call you,
close your test booklets completely
and come forward. I’Il start with the
youngest and work my way up.

“T see your teacher, Miss Bidson,
has some pencils ready for you.
Good. Let’s begin.

The children opened their book-
lets. Natasha and Tom began to write
immediately. Miss Sedgewick called,
“Mary Kohl! Please come forward
and let me hear your ABC’s.”

Taking a deep breath, Ida quickly

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ILLUSTRATED BY BRIAN FLOCA



Uy

iy

i |

table of contents listed exams in
“Writing, Spelling, Grammar, Arith-
metic, Geography, U.S. History, Sci-
ence.” She opened the book at ran-
dom and came upon “Geography.”
The first question was, “Compare
South America to North America in
terms of size, shape, principal prod-
ucts, and population.” Her stomach
seemed to roll. Nervously she turned
to Arithmetic. The first question
was, “A farmer hired a man and a
boy at a yearly expense of $480. The
man received $25 a month. What
part of the $480 did the boy receive?”

Ida groaned inwardly and then
looked around the room. By the
teacher’s desk, Mary was reciting the
alphabet in a loud, singsong voice.
Everyone else was bent over their
tests. She could hear the soft scratch-
ing of pencils, the rub of erasers. Her
damp dress itched.

Panic gripped Ida. She was wasting
precious time! “You have to pass,”

she scolded herself. “You must! -

Start!” Picking up a pencil, she
turned to the front page of the test
booklet. “Reading.” The first line
said: “Write out a poem from your
reader for this year. Give author,
dates of his or her birth, and title.
Then give all stanzas.”

CENTRE

Town Centre Mail
Tel: 326 1473 or
322 9256 thru 60

Madeira Shopping Plaza
Tel: 322 7579 or 328 4053

* With Approved Credit * Some Stipulations May Apply

“] know that,” Ida thought to her- |

self with enormous relief and began
to write.

The day seemed to race by. ‘There
was a morning recess but though the
rain had stopped, no one wanted to

U Y,
3 LL ALL TEAL be out for long, other than to stretch
* CHAPTER i HH and ie a cup of ee Pes
ty much the same. Food was ;
i SEVENTEEN | {| not eaten. After lunch, Naty Hg
« The Last Day of School | Susie finished their tests and went
a / to play outside.
E | The others continued.
5 Peux ‘peered up-from ive At two-thirty, Miss Sedgewick rang
fi floor Of the Car. “Ilda How far Wi | the desk bell. “Half an hour,” she.
X are we from school?” informed them. “Check your work.”
& Her head resting on the wheel, Ida Then, “Five minutes! Make sure
said slowly, “I don’t know. Halfway, | HY yon ae ou anit:
s} maybe.” inally, the last be
‘ “What’re we going to do?” Miss ete trse core the
ae i : : Shhh : aper t
e LO Sedgewick. This time, aside from leafed through her booklet. The . Son Gaile keene a passed?”

Ida asked her. |

“I shall be grading them tomorrow.
You’ll’be informed by mail.” She
offered an encouraging smile and
left. The children followed slowly.

Standing by the teacher’s desk, Ida
gazed over the school. In all her life
she had never felt so exhausted. And
yet, the empty room seemed sad
without students.

“How’d you do?” Tom asked Ida,
as she closed the school door and
locked it.

“IT don’t know,” she confessed.
Then she asked, “Tom will you help
me pull our car out of the mud?”

(Continued on Tuesday)

Please direct requests for a teacher's
guide (cost $7) containing vocabulary
words, story questions, and newspaper
activities to The Tribune’s marketing
department on Shirley Street, by calling
502-2394 or by e-mailing
nie@tribunemedia.net.

Text copyright © 2000 Avi
Illustrations copyright

© 2000 Brian Floca
Reprinted by permission
of Breakfast Serials, Inc.
www.breakfastserials.com



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THE TRIBUNE





MONDAY



@ THE ARTS

The National Art Gallery of the Bahamas (NAGB)
is holding an African Art Exhibition - “What is
Africa to Me” from the private collection of Kay
Crawford running until Saturday, July 29.

@ HEALTH

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: New Providence
Community Centre: Mondays - 6pm to 7pm. The
Kirk: Mondays - 7:30pm to 8:30pm ~

Diabetes Directions a FREE diabetic support
group meets the first Monday of each month at
6:30pm at New Providence Community Centre,
Blake Road. Dinner is provided and free blood sug-
ar, blood pressure and cholesterol testing is avail-
able. For more info call 702.4646 or 327.2878

MS (Multiple Sclerosis) Bahamas meets the third
Monday every month, 6pm @ Doctors Hospital
conference room.

@ CIVIC CLUBS

St Andrew’s Kirk holds an After-School Pro-
gramme for children from the Woodcock and
Albury Sayle Primary Schools. The free pro-
gramme is held Monday to Friday @ St Andrew’s
Presbyterian Kirk and is open to children from the
Bain and Grants Town communities. Parents inter-
ested in enrolling their children should contact the
church at 322.5475 or email: ,
standrewskirk@yahoo.com

Toastmasters Club 3596 meets at the British Colo-
nial Hilton Monday’s at 7pm ¢ Club 612315 meets
Monday 6pm @ Wyndham Nassau Resort, Cable
Beach e Club 3596 meets at the British Colonial
Hilton Mondays at 7pm. —--—

The Nassau-Bahamas-Pan-Hellenie-Couneil——__
(NPHC) meets every third Monday of the month in
the Board Room of the British Colonial Hilton
Hotel, Bay St. a

TUESDAY

@ PARTIES, NIGHTCLUBS
& RESTAURANTS

10.10.2.20. @ Club Nirvana: Tuesday nights at Club
Nirvana; Elizabeth Avenue, have been dubbed
10.10.2.20. Every tenth female patron is allowed
into the club absolutely free and is given a compli-
mentary glass of Carlo Rossi. Tuesday nights also
include the Carlo Rossi's Hot Body Competition.
Hosted by Daddi Renzi and music provided by DJ
Ai from 100 Jamz. Master Chef Devito Bodie pro-
vides scrumptious appetizers.



@ THE ARTS

New - “Bahamain Art 1492 -1992” - NAGB will be
hosting a Bahamian Art History Lecture @ the
gallery Tuesday, May 25.

@ HEALTH

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: The Nassau Group,
Rosetta Street: Tuesday - 6pm to 7pm/8: 30pm to

9: ‘30pm.

The Gane Society of the Bahamas meets at
5:30pm on the second Tuesday of each month at
their Headquarters at East Terrace, Centreville.
Call 323.4482 for more info.

Pre & Post Natal Fitness Classes are being held
6:30pm Tuesdays at Nassau GymNastics Seagrapes
location (off Prince Charles Dr). Doctor approval is
required. Call 364.8423 to register for more info.

@ CIVIC CLUBS

Toastmasters Club 1095 meets Tuesday, 7:30pm @
CC Sweeting Senior School's Dining Room, Col-
lege Avenue off Moss Road.

Club Cousteau 7343 meets Tuesdays at 7:30pm in
the Chickcharney Hotel, Fresh Creek, Central
Andros.

Club 7178 meets each Tuesday at 6pm at the Can-
cer Society of the Bahamas, 3rd Terrace, Centre-
ville.

Alpha Kappa Alpha Sorority, Eta Psi Omega chap-
ter meets every second Tuesday, 6.30pm-@ the







EMAI
PLEASE PUT



“OUT THERE”

AROUN D

FRIDAY, MAY 19, 2006, PAGE 11





NASSAU





L: YDELEVEAUX @TRIBUNEMEDIA.NET -—
IN THE SUBJECT LINE




Eleuthera Room in the Wyndham Nassau Resort,
Cable Beach.

Alpha Phi Alpha Fraternity meets every first Tues-
day, 7pm @ Gaylord’s Restaurant, Dowdeswell St.
Please call 502.4842/377.4589 for more info.

Kappa Alpha Psi Fraternity meets every second
Tuesday, 6:30pm @ Atlantic House, ey Office,
Ath floor meeting room.

Alpha Phi Alpha Fraternity meets every first Tues-

.-day,6:30pm _at the British Colonial Hilton. Please

call 502.4842/377.4589 for more Infows sees
'. WEDNESDAY

@ PARTIES, NIGHTCLUBS
& RESTAURANTS

' LIVE MUSIC @ The Buzz, Nassau’s Weekly Jam

Session & Musicians Hook-up. Located East Bay
Street two doors East of Esso On The Run.

Hump Day Happy Hour @ Topshotters Sports Bar
every Wednesday Spm-8pm. Free appetizers and
numerous drink specials.

@ HEALTH

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: New Providence
Community Centre: Wednesday - 7pm to 8pm. The
Nassau Group: Rosetta Street, Wednesday - 6pm to
7pm / 8:30pm to 9:30pm.

@ CIVIC CLUBS

Bahamas Association for Social Health (BASH)
presents the Earth Village Ranch (petting zoo), St
Albans Drive and Columbus Avenue. Free admis-
sion every Wednesday by appointment between
9am and 3pm. For more information or to book
events call 356.2274 or 434.8981. Special rates avail-
able for groups of 20 or more with a two week
advance reservation.

The Nassau Bahamas Alumnae chapter of Delta
Sigma Theta Sorority Incorporated meets 6:30pm
every third Wednesday at the Bahamas National
Pride Building.

TM Club 753494 meets every Wednesday, 6pm-
8pm in the Solomon’s Building, East-West High-
way. TM Club 2437 meets the 2nd and 4th
Wednesday of each month at C C Sweeting Senior
High School, Oakes Field.

International Training in Communication, Essence
Club #3173 holds its bi-monthly meetings on the Ist
and 3rd Wednesday of each month at Doctor's
Hospital Conference Room.

Nassau Council 10415 Knights of Columbus meets
the second and fourth Wednesday of the month,
8pm @ St Augustine’s Monestary.

THURSDAY



@ HEALTH

Alcoholics Anonymous, wishes to inform the public







a a

New - “Express Yourself’ - an open mic
forum for poets and performance artists to
share their work - is held at ‘Me-Ting Place’ in
the plaza next to the British Colonial Hilton
and opposite McDonalds Le ntown, every
Tuesday at 8pm.

of its meeting times and places: The Nassau Group,
Rosetta Street: Thursday 6pm to 7pm / 8:30pm to
9:30pm. The Kirk: Thursdays - 7:30pm to 8:30pm

Pre & Post Natal Fitness Classes are being held
6:30pm Thursdays at Nassau GymNastics Seagrapes
location (off Prince Charles Dr). Doctor approval is
required. Call 364.8423 to register or for more info.

REACH - Resources & Education for Autism and
related Challenges meets from 7pm — 9pm the sec-

ond Thursday of each month in the cafeteria of the
BEC building, Blue Hill Road.

CIVIC CLUBS

New - The Bahamas Historical Society is scheduled
to hold its next meeting June 8 at 6pm @ the Muse-
um on Shirley Street and Elizabeth Avenue. The
guest speaker will be Dr John Burton of DePaul
University, Chicago. His topic will be "To Sell
Again": Economic Life of Nineteenth-Century San
Salvador.

TM Club 3956 meets Thursday, 7.30pm @ British
Colonial Hilton.

TM Club 1600 meets Thursday, 8.30pm @ Super-
Clubs Breezes.

International Association of Administrative Profes-
sionals, Bahamas Chapter meets the third Thursday

__of every month @ Sa Breezes, Cable
“thi Hcach, uiaad

FRIDAY

@ PARTIES, NIGHTCLUBS ~
& RESTAURANTS

Cafe Europa on Charlotte Street North, kicks off
every Friday night with Happy Hour... special
drinks, live music/DJ from 6pm to 9pm and Nas-
sau’s first European Night Restaurant - Open Fri-
day night till Saturday morning 5am, serving hot
food/and take out - music, drinks and an English .
breakfast. Cafe Europa...the perfect place to spend
your night out till the morning.

@ THE ARTS

New - Track Road Theatre presents Emille Hunts’
‘Da Market Fire!’ May 19 and 20 @ the National
Performing Arts Centre. The play is directed by
Deon Simms. For more information check out '
www.trackroadtheatre.org or call 392.0275 or
380.4334.

@ HEALTH

New - Autism Awareness Week

Conference on Autism Spectrum Disorders
Workshop for Professionals - May 19 @ 9am - 4pm
(New Providence Community Centre)

Workshop for Families - May 20 @ 9am - 4pm
(Garvin Tynes Primary School)

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: The Nassau Group,
Rosetta Street: Fridays 6pm to 7pm & 8:30pm to
9:30pm. Sacred Heart Church - Fridays @ 6pm to
7pm

New Providence Community Centre: Fridays @
7pm to 8pm.

@ CIVIC CLUBS

TM Club 9477 meets Friday, 7pm @ Bahamas Bap-
tist Community College Rm A19, Jean St.

AMISTAD, a Spanish club meets the third Friday ~
of the month at COB’s Tourism Training Centre at
7pm in Room 144 during the academic year. The
group promotes the Spanish language and culture
in the community.

Nassau Bahamas Koinonia meets every second Fri-
day of each month, 7.30pm at Emmaus Centre at St
Augustine’s Monestary. For more info call 325.1947
after4pm. ~

seat
"Safety comes in cans. I can, you can, we can."







SATURDAY

@ PARTIES, NIGHTCLUBS
& RESTAURANTS



New - Sun City Entertainment presents Saturday &
Sunday night functions for the alternative lifestyle
crowd (Gay) at Kendal's Auto Garage on Glad-
stone road from 11:30pm to 4am. Music provided
by DJ X. Heading south on Gladstone Road,
Kendal’s is located immediately past Moss Gas sta-
tion.

@ THE ARTS

Postponed - The NAGB was scheduled to hold a
Youth Workshop on Audio Recording - Saturday,
May 27 from 10am to 1pm, for children 12 years
and older. Instructor: Christian McCabe. Contact
the Gallery to reserve a seat @ 328.5801. The event
has been postponed until further notice.

@ HEALTH

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: The Nassau Group,
Rosetta Street: Saturday mornings - 10am to 11am.

Bahamas Diabetic Association meets every third
Saturday, 2:30pm (exce Bt August and December)
@ the Nursing School, Grosvenor Close, Shirley
Street.

Doctors Hospital - CPR and First Aid classes are
offered every third Saturday of the month from
9am-1pm. Contact a Doctors Hospital Community
Training Representative at 302.4732 for more infor-
mation and learn to save a life today.

@ CIVIC CLUBS

JAR CYCLING: The owners of JAR Cycling are
pleased to offer a cycling clinic for juniors between
10 and 17. The free clinic will be held every Satur-
day in an effort to encourage kids to cycle. Parents
interested in registering their children should con-
tact. organisers at jarcycling@gmail.com :

SUNDAY

@ PARTIES, NIGHTCLUBS
& RESTAURANTS

New - A Family Festivus Tiny Tots Day Out! will
be held Sunday, May 21 from 1pm to Spm @ the
Botanical Gardens. There will be pony rides, face
painting, tiny tunes, tiny tots gymnastics and daddy-
and-me Olympics and many more fun and games
for the tiny tots. Tickets will only be sold in advance

- $5 for adults and $8 for children - covers all activi-
ties except food. Tickets are available at Logos
Bookstore and Global United Store in the Sandy-
port Olde Town Mall. For more information call
427.5783 or send an e-mail to
familyfestivus@yahoo.com. All proceeds will go to
United Nations Children’s Fund (UNICEF) and
Doctors Without Borders.



Traveller’s Rest Restaurant, West Bay Street, fea-
tures special entertainment - Gernie, Tabitha and
the Caribbean Express - every Sunday from 6:30pm
to 9:30pm.

The Graham Holden Deal @ The Green
Parrot....David Graham, Steve Holden, Tim Deal
and Friends perform Sunday, 7pm - 10pm @ Hurri-
cane Hole on Paradise Island.

‘Sunday Night Interlude @ Briteley’s Restaurant &

Lounge, Eneas St off Poinciana Drive. Featuring
Frankie Victory at the key board in the After Dark
Room every Sunday, 8.30pm to midnight. Fine
food, drinks.

@ HEALTH

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: The Nassau Group,
Rosetta Street: Sunday 6pm to 7pm / 8:30pm to
9:30pm.

@ CIVIC CLUBS
New - The Cat Island Sailing Club will host its

Annual Cat Island Day - Sunday, ay 28 at the
Western Esplanade from 10am.- until

Send all your civic and social events to
The Tribune

via fax: 328.2398 or e-mail: ydeleveaux@
tribunemedia.net/Out there in subject line



-,PAGE 12, FRIDAY, MAY 19, 2006

THE TRIBUNE



etre:

%
*

S bs Larchahaie

’; PRESIDENT Rene Preval
on Thursday urged Haitians to
> help his fledgling government
‘ restore security so UN peace-

. keepers can leave, saying the
|. troubled country can’t control

“its. destiny with the presence of

“foreign troops”, according to

Associated Press

Preval, who took power Sun-
day, said the 9,000-strong UN
force was still needed to pro-

‘vide security in the bitterly
divided Caribbean nation.

But he made it clear that he
would prefer that the interna-
tional troops leave Haiti.

“The faster we can achieve
peace, the faster they can
leave,” he told a cheering crowd
of several thousand in this sea-
side town 31 miles north of the
capital, Port-au-Prince. “Why
are we not the owners of our

_ land? Because we have foreign
troops in our land.”

Preval spoke at a ceremony
marking the 203rd anniversary

of Haiti’s flag, an important hol-
iday that rouses Haitians’ patri-
otic fervour.

Earlier, Preval laid a wreath
at a statue of Haitian indepen-
dence leader Jean-Jacques
Dessalines, who fought off
French colonisers to make Haiti
the world’s first black republic.

“When we don’t have foreign
troops here, we can say we’re
the owners of our land again,”
he said.

The Brazil-led peacekeeping
force came to restore order
after a bloody February 2004
revolt toppled Preval’s prede-

_cessor and former ally, Jean-
Bertrand Aristide.

-’ After the revolt, Haiti’s capi-
tal exploded with street violence

‘blamned mostly on pro-Aristide

“gangs and renegade Haitian

police.

With calm slowly teturning ©

se A
TVG!

| Be.
: tee BSI OVERSEAS (BAHAMAS) LIMITED
- |: -BSI Overseas (Bahamas) Limited, Nassau, Bahamas, an established
_international private bank, with its headquarters in Lugano, Switzerland, is

ee “presently accepting applications for the position of Head of Operations.
| - The successful candidate will report directly to the Financial Controller:-

oy Vat ]=) Nm aE)



Preval urges public
help in security so |%
- UN can leave

. HAITI



@ HAITIAN President Rene Preval talks with a girl at the
town of L’Arcahaie, some 31 miles north of Port-au-Prince,
Haiti, at a ceremony marking the 203rd anniversary of Haiti’s

flag yesterday

to the nation, Preval called on
Haitians to be more productive
to attract investment to Haiti,
one of the world’s poorest coun-
tries. He cited tourism and man-
ufacturing as opportunities.

“We need to start producing
more so we don’t have to ask
for aid,” Preval said.

International officials say
Preval’s cash-strapped govern-
ment will need a quick infusion
of funds to operate.

»Juan Gabriel Valdes, who this!

week stepped down as the head

(AP Photo/Ariana Cubillos)

of the UN mission, warned of
more turmoil unless Haitians
see results in the next year.

"It would be frankly intoler-
able to see that for lack of inter-
national assistance at this point
in time the country goes back to
previous political and security
conditions,” Valdes said.

After Preval’s speech, a small
group of Aristide supporters
with bullhorns chanted for the

. deposed leader’s return, singing |
“Wevoted for Preval'so: Aris-
“tide could'come back.”



= Qed

has a vacancy for the position of

GROUP ACCOUNTANT







PROFILE:

e A minimum of a Bachelor’s Degree in Accounting or
Finance and professional accounting qualification (CPA)




e Three — five years relevant bank/trust company experi-
ence preferred




RESPONSIBILITIES INCLUDE:




e Prepare financial records for all groups




e Prepare Central Bank reports, financial statements, lead
schedules, and management reports




@ Maintain bank records and reconciliations




e Manage and maintain general accounting systems,
policies, procedures and accounting administrative
Services




e Treasury management responsibilities




e Supervise accounts personnel





e Assist with audits et, S gs

e Ability to work with minimum supervision




e Strong verbal and written communication skills and
organizational abilities LaTVeLAR




e Good knowledge of software packages including MS
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The successful candidate will report to the Financial Controller



The successful candidate will be offered a competitive |
compensation package including benefits and bonuses
commensurate with his/her experience.and performance. > 5
The Human Resource Director Hy gayyromets.
Fidelity ce
51 Frederick Steet
P.O. Box N-4853
Nassau
f: 326.3000







e-mail: careers@fidelitybahamas.com :



ine

has a vacancy for the position of

a

JUNIOR ACCOUNTANT ~~ /

PROFILE:

A minimum of a Bachelor’s Degree in Accounting or
Finance or professional accounting qualification and
planning to pursue the CPA



HEAD OF OPERATIONS

- “F~ Applicants must have relevant financial accreditation or professional qualifications
:ue sf .-and/or at least 7 years proven extensive managerial experience in all phases of

| ‘payments & securities and other assets in the offshore banking industry, be fully

| :abreast of today’s sophisticated private banking products, able to confidently
_ |. demonstrate hands-on management and be keen to train members of the team,
">" “f° “partner with other teams for strategy, development and the efficient implementation
ou: «| . Of the Bank’s directives, objectives and must have knowledge of Bahamian and
“© |< Swiss legislation, regulatory & statutory matters as well as international banking
. |. practices.

One - three years relevant experience with a bank/ trust
company preferred

RESPONSIBILITIES INCLUDE:

Prepare financial statements

Personal qualities :-
Proven ability to supervise staff & control the daily flow of transactions and
direct and guide staff through knowledge & example
Must have demonstrated practical organization of self and others,
specifically the ability to follow up systematically and ensure timely
settlement of all operational transactions
Will have the experience to solve problems based on sound product and
accounting knowledge and an understanding of the needs of the front
office/clients
Result-orientated and excellent.leadership skills
Ability to monitor and evaluate operational procedures and make
recommendations for improvements
Commitment to quality and service excellence & customer satisfaction
Extensive knowledge of international markets and financial instruments
Specific knowledge of processing both payments and securities

~ Knowledgeable in MS Office and other p.c. applications

Fluency in Italian language

Assist with reconciliation of custody accounts and
shareholder registers ;

Maintain general accounting systems, policies and
procedures

Administrative support
Liaise with clients and management
Ability to work with minimum supervision

Strong verbal and written communication skills and
organizational abilities

Good knowledge of software packages including MS

Responsibilities :- Office

Provide leadership, direction and supervision to the team

Monitor processing of c.d.’s, structured products, fiduciary deposits, special
bonds, etc.
Oversee investigations and follow up of all pending matters
Trouble-shooting, resolving problems and errors

Liaise with front/back offices, head office, brokers, custodians, etc.
Authorize reconciliations and review reports

The successful candidate will report to the Group Accountant

The successful candidate will be offered a competitive
compensation package including benefits and bonuses

, : te with his/her experience and performance.
Resumes should be faxed to # 702 1253 or mailed or delivered to the offices of Soe aa Cra ope cor P e

BSI, addressed to
Personnel Officer
BSI Overseas (Bahamas) Limited
Bayside Executive Park, W. Bay St. & Blake Road
P. O. Box N-7130
Nassau, Bahamas

The Human Resource Director
Fidelity
51 Frederick Steet
P.O. Box N-4853
Nassau
f: 326.3000

JUNIOR ACCOUNTANT GROUP ACCOUNT

(ABSOLUTELY NO PHONE CALLS PLEASE)
Only applicants having the above attributes will be contacted.

e-mail: careers@fidelitybahamas.com











THE TRIBUNE

a

A ERE ee,”

FRIDAY, MAY 19, 2006, PAGE 13









LUCKED OUT? WHAT YOU, BOB...UP 2







wWAY THE

QUIZZES
NEDDY QUESTONSS>

THE HILL...HEAVY
BREATHING 4



TM TRYING To SPARE|? DO I BOTHER? LUANN, AND
THINKS)

HER FEELINGS.



TOMMIE TOLD ME YOU'VE BEEN
» |] PROTECTING LU ANN FROM

LEARNING OF SCOTT‘S UPCOMING
MARRIAGE. THAT'S VERY KIND

















THAT WAS ERNIE ON
THE THIRP FLOOR CALLING

Ser :

Duka:

[ HELLO, OH YEAH,
THANKS...



I'M STARTING To QUESTION
WHETHER I HAVE ALL
THE ANSWERS

“7 3 BELIEVE I MUST
BE MATURING
£9

SILA PECEAPTALIDE . HET










MAKES (T
TASTE.KINGA

I VROPPEV
MY SANPWICH 1 WASHING
: ITOFF








CRYPTIC PUZZLE a
ACROSS

DOWN

1 Having cleaned up, she’s in the % Sina in a drunken brawl —
money (6) on key! 6)
7 Historically, the building 2 Fishing vessel? (6}

of Rome anew (4,4) 3
An American tramp with Ken in 4
Belgium (4)

A vessel for beer containing

a piece of cake (6)

In various cases, see a means of
entry (6)

A cricket side (3)

A fortune teller's card (5)

A tattered robe could be associated
with York (4)

There's one in a Spanish house,
normally (5)

A mistake, filleting? (5)
Character of the south of
Australia (5)
Hurtled — yet at diminished
speed? (4)
Strength of a debtor with

little money (5)

A crusty bird? (3)

Female warrior with a

big mouth! (6)

Has he a nice car to take Edna out
and about? (6)
Tongue that bends out

of the way? (4)

Figure to creep cunningly around in
deceit (8)

Greater rage, perhaps, between
opposing sides (6)

Possibie access to a revolver? (4)
Unhinged creator of something
nuc!sar} (7)

Pari of 9 building for accommodating
the old-iashioned (5)

is the new form of theft (5)

The ring of sanctitude (4)

The humble way to live with light
heart (3)

iscariot’s chariot (3)

One drinking too much of the south-
ern water? (5)

An exciting future, perhaps? (5)

Of this piant, ail but the head is
sticky (5)

It takes little money to get us upset
about nothing (3)

Is there 0 such price for

a gross? (3)

A peer deprived of one is short (7)
Just the neadgear for an unsafe
zone? (3)

Military commander organized raids
to end the war (6)

Possibiy superior pari of

S America (4)

One with a taste for wet bread, etc? (6)
Soft as an American father (5)

Pay for siarting work on time (5)
Standard of comparison (3)
Fighi wher owed money (4)

ACROSS
Robber (6)
Driven back (8)
Indian dress (4)
Ski slope (6)
Angry speech (6)
Obtain (3)
Regions (5)
Russian ruler (4)
Raged (5)
Italian city (5)
Deserve (5)
River crossing (4)
Mature (5)
Hill (3)

Optical illusion (6)
Gemstone (4)
Inciuded (8)
Cricket team (6)

:

Yesterday's cryptic solutions

ACROSS: 1, Floss 6, Chic-k 9, Cot-Erie 10, Scar-y 11,
Tar-Ry. 12, F-ria-r 13, Sea-ward 15, Pea 17, Oral 18,
B-eh-old 19, Fi-n-al 20, T-r-owel 22, Sari 24, Hen 25,

yesterday's easy solutions

ACROSS: 1, Usual 6, March 9, Similar 10, Trust 11, Rivet
12, Fluid 13, Stances 15, Led 17, Pert 18, Beware,19,
Giver 20, ironed 22, File 24, New 25, Trainer 26. Pairs 27,
Below 28, Gaudy 29, Parasol 30, Aliey 31, Decry

DUWN: 2, Sprite 3, Assent 4, Lit 5, Fills 6, Mariner 7, Arid
8, Clever 12, Fetid 13, Spain 14, Arrow 15, Latin 16,
Defer 18, Beers 19, Getaway 21, Reveal 22, Finale 23,
Leader 25, Tread 26, Pope 28, God

Minaret 26, Ste-I-n 27, Sarah 28, Sugar 29, L-ever-et 30,
SOR Tears

2, Locker 3, S-crawi 4, Soy (so-rr-y) 5, We-i-rd 6,
Chadel 7, Hear 8, Cartel 12, F-rail 13, South 14, Aaron
15, Polar 16, Admi-t 18, BA’s-in 19, Fea-the-r 21, Retail
22, Sal-ute 23, Re-pair 25, Mi-les 26, Sale 28, Set

Representatives (6)

COMICS PAGE



MARGARETS!”

1. You are South, and the bidding

has gone:
South West North East
1& 24 3& Pass
3¢ Pass 44 Pass
se
What would you bid now with:

@ AQJ105S ¥ 72 © AK983 & 4
2. You are South, and the bidding

has gone:

East South West ‘North
3& 49 Pass 6%
Pass ?

What would you bid now with:
& AK ¥ AQJ843 @ 10 # A982
kak

1. Five diamonds. Your partner
has bid rather strongly, and there is
no doubt you’re close to a slam.
However, you can’t undertake the
slam unilaterally with two heart los-
ers, nor would Blackwood solve the
problem if partner responded five
diamonds, showing one ace. Con-
versely, you can’t pass because’ it
might easily turn out that slam is ice-
cold.

Since you can’t tell just how high
to go, your best shot is to leave the
decision to partner. He will know
you’re trying for slam when you bid
five diamonds, because otherwise
you would have passed four spades.

| He might have any of the following

four hands, consistent with his previ-
ous bids, and will know exactly what
to do over five diamonds:
1. #K963 ¥ J4 @ Q5 & AKQ82
2. ®K764 ¥ 9 @ Q104 & AKIJ93
3. ®K872 ¥ KS @ 6 & AKJ1075

“YOU WANTED ME TO BRING HOME A REALLY
GOOD REPORT CARD..,.60 I BORROWED

Bidding Quiz



[ DONT THINK
Tu GO TO

- 4,.@K94 ¥ A83 % Q7 & AK982

With the first hand, containing two },

heart losers, he would sign off at five
spades, which you’d pass. But with
the next three hands, which contain
first- or second-round heart control,
as well as other key values, he would
bid six spades.

2. Seven hearts. This is one of
those cases where you do or you
don’t, and the nod here goes to do.
It’s hard to imagine a hand partner
might hold where you wouldn’t have
a good chance for seven, and you
shouldn’t try to talk yourself out of
bidding a grand slam just because it’s
possible to concoct a hand partner
might have that would make seven a
risky bid.

In effect, you’re faced with a math-
ematical proposition. To undertake a
grand slam, the odds have to be 2-to-
1 or better in your favor. You don’t
have to be 100 percent sure of a
favorable outcome, as some players
contend; all you need is the convic-
tion that partner will produce a hand
that is likely or certain to yield all the
tricks.

You start by assuming partner can’t
have two club losers; there’s no way
he could jump to six hearts with such
a holding. Nor could he bid six with
an aceless hand, regardless of what
he held in clubs. He is far more likely
to leap to six with any of the follow-
ing hands, and you would make
seven with each of them:

1, @ Q93 ¥ K972 @ AKQ72 # 5S

2. @ Q72 ¥ K1065 #AQI843 #& —

3. @ QI84 ¥ K972 © AK93 & 7

TARGET

- HOW many words of
four letters or more
can you make from
the letters shown
here? In making a

_ word, each letter may
be used once only:
Each must contain the
centre letter and there
must be at least one
nine-letter word. No
plurals or verb forms

ending in “s”, no words with initial capitals and no
words with a hyphen or apostrophe permitted. The
first word of a phrase is permitted (e.g. inkjet in

inkjet printer).





=

Accommodation (6)
Trader (6)

Fit (4)

lahabitant (7)
Wash (5)

Borders (5)

Long poem (4)
Dacay (3)

Staff (3)
Dissuade (5)
Flower (5)

Shoot (5)

Tree (3)

Floor covering (3)
Say in passing (7)
Males (3)

Hunt (6)

Spoken (4)
Intensify (6)
Black bird (5)
Pennies (5)
Gratuity {3)
Fashior. 4)

SOHANERWNHHE

BUNRRYRREREERE



TODAY'S TARGET
Good 11; very good 16;

excellent 22 (or more).

Solution tomorrow.



anil anion calico CANONICAL ciao cicala coil coin
colic conic conical icon laconic lain liana linn lino

YESTERDAY'S SOLUTION
dion loci loin nail

Lack of feel-
ing or interest

From an intemet blitz game, 2006.
Winning tactics are usually 8
presented as a smooth and logical
progress to a decisive advantage, 7
but real-life games are often more
haphazard. Here | was White in a
Sicilian Defence and had gone for 5
the usual king’s side attack while,
Black countered on the other flank.
My rosy dreams of Bxg7 and Qxh7 ‘ 3
mate were interrupted by Black's
1...Be7! which pins the g5 knight
and meets 2 Bxg7 by Bxg5 3 Qxg5
Kxg7. True, White would then keep
an attack by 4 Ne4 but | was
enticed by 1...Be7 2 Rf6 with the
idea Bxf6 3 exf6 and mate soon
follows. Again my self-
congratulations were disturbed,
this time by 1...Be7 2 Rf Bxf6 3
exf6 Nh5 when White's attack

PUZZLE SOLUTIONS














ean




FRIDAY,
MAY18
ARIES - March 21/April 20

No one can resist your fiery charm
this week, Aries. People flock to you
instinctually. Make sure you cast an
equal amount of affection’ in their
directions also.

TAURUS - April 21/May 21
You may need to understand
another point of view later in the
week, even if you’re not up to
adopting it. It’s best to keep an open
mind in all situations. .
GEMINI — May 22/June 21
You feel empowered to blow past
all of the things which have been
slowing you down. Take an interest
in someone’s affairs and lend a
helping hand.

CANCER - June 22/July 22
Don’t feel pressure to rush
through things this week, Cancer.
Remember, the tortoise beat the
hare in the end. Enjoy looking at
those things along the journey —
it’s that much more fun. - :
LEO- July 23/August 23

You spend your days among those
closest friends this week;. Leo.. There’s
no need to take a leadership role when
you’re seeing everyone, as.equals.
Romance is possible on Wednesday.
VIRGO - Aug 24/Sept 22

If others insist on annoying you,
keep your distance. You shouldn’t
get caught up in their foul mood or
let it bother you one bit. Delight in
some quality “alone time.” }

LIBRA - Sept 23/Oct 23

If you act in a selfless manner this
week, Libra, your actions will:have a
surprisingly large impact. You can
make more of a difference than you
know. Enjoy the moment..
SCORPIO — Oct 24/Noy 22
Stop being so critical, Scorpio. It’s
high time you start judging people
by their results rather than what they
did to get there. A new way of think-
ing inspires you on Tuesday. |
SAG XIUS — Nov 23/Dec 21
Dive headfirst into an adventure in
excess, Sagittarius. You may want to



‘| tule your life by your emotions for a

while, since you are feeling so posi-
tive. You can’t*seem to get enough,
so feel free to ask for more. |

CAPRICORN - Dec 22/Jan 20
You have a hard time keeping; secrets
this week, Capricom. Although you may
not be more talkative than usual, others
seem to be more perceptive. Confide
only in those people you trust.

AQUARIUS - Jan 21/Feb 18
Favorable events unfold in record
time this week, Aquarius. You’ are in
search of quality things and have no
patience for anything less. Scorpio
shares your point of view.

PISCES — Feb 19/March 20

Your instincts are sharper than usual,
Pisces, so don’t believe anything. you

| know deep-down is not true. A friend-

ship needs mending and you should
take the first step.

CHESS by Leonard Barden

“Seu 168 9 SU +2PG S Up ISR
v SUN 9) € OP O14 Z L281 “BITS UORMIOS ssaur)



_PAGE 14, FRIDAY, MAY 19, 2006



YOUR CONNECTION“TO THE WORLD

POSITION VACANCY
Chief Financial Officer (CFO)

The Bahamas Telecommunications Company Limited (BTC) invites applications for
the above position from suitably qualified persons with relevant experience in the
telecommunications or related industry.

GENERAL ACCOUNTABILITIES

This position develops and directs the Company’s accounting and control activities to
protect the assets of BTC and to ensure the internal and external integrity of accounting
standards and financial controls. The CFO is to provide accurate and timely monthly
corporate performance reports and annual budgeting information to Board members,
executives, senior managers and line managers. The CFO also directs the formulation
and implementation of the Company’s financi~! goals and objectives including cash
management, banking and relations with banks and investment firms, risk management
and capital funding requirements. The enhancement of revenue (including the

‘implementation of measures to stop revenue leakage) is an important requirement for
this position.

This is an executive management position reporting to the President & Chief Executive :

Officer and the Chairman of the Finance Committee of the Board of Directors. As the
Chief Financial Officer of BTC, the holder of this position provides the Board and
senior management with informed and timely opinions on the Company’s financial
performance and trends impacting operations.

SPECIFIC ACCOUNTABILITIES

1. Develop and direct the Company’s accounting and control activities to protect the
assets of BTC, to ensure the internal and external integrity of accounting standards
and financial controls, and to provide accurate and timely reporting and budgeting

information to Board members, executives, senior managers and line managers.

2 Direct and prepare for printing and distribution all statutory accounts and annual
audited financial reports.

3. Direct the formulation and implementation of the Company’s financial goals and
objectives including: cash management, banking and relations with banks and
investment houses, risk management and capital funding requirements.

4. Provide the Board and Executive Management with informed and timely opinions
on the Company’s financial performance and trends impacting operations:

5. Protect the assets of the Company by directing the accounting and control, financial
planning, statutory reporting, and risk management activities on a company-wide
basis.

6. Enhance the Company’s public image by ensuring the integrity of accounting and
‘control standards and procedures and by providing the published annual report on
a timely basis.
7. Contribute to the aims and objectives of BTC by providing informed advice relative
to the Company’s financial performance, the general business environment and
developing trends impacting BTC’s activities.

8. Contribute to increased corporate revenues through effective cash management and
by preparing and presenting financial operating data for Board and executive
approval.

9. Coritribute to the reduction of operating expenses through the development and
implementation of accounting and-control procedures and systems to provide
accurate and timely data for the information of the Board, executives and managers.

10. Ensure the Company’s continued access to capital at competitive rates by ensuring
the flow of financial information, by maintaining contact with commercial and
investment banks and by directing accurate and timely financial planning and
budgeting.

11. Ensure the necessary human resources to meet both the current and future needs
of the finance division by participating in t! » selection, mentoring, motivation
and development of managers and staff.

12. To attend as required all meetings of the Executive Committee, the Board of
Directors and the Finance Committee of the Board and any other relevant committee.

13. To arrange for the audit of BTC’s financial statements in a timely manner and to
liaise with BTC’s external auditors as required.

14. To ensure prompt action to implement recommendations made by the Internal
Audit Department in their reports to the Audit Committee of the Board and the
senior management.

REQUIREMENTS

The successful candidate should be a member of a recognized accounting body from
the U.K., Canada or the USA, possess a thorough working knowledge of International
Accounting Standards (IAS) and meet the following requirements:

¢ ACPA or ACA designation with at least ten (10) years of commercial post-qualification
experience with proven senior management experience in the’ telecommunications
industry.

¢ Exceptional interpersonal and communications skills.
¢ Expertise in implementing Enterprise Resource Planning (ERP) systems.
COMPENSATION

BTC offers a competitive salary and excellent benefits commensurate with
qualifications and experience and in line with compensation and benefits afforded
senior executives in the private sector.

It is BTC’s intention to execute a contract with the successful applicant for‘a
period of three (3) years with an option to rene vy the contract for a mutually agreed
period.

All applications are to be received at BTC’s Head Office, 21 John F. Kennedy Drive,
no later than June 6", 2006 and addressed as follows:

Director of Human Resources

The Bahamas Telecommunications Company Limited
John F. Kennedy Drive

P. O. Box N-3048

Nassau, Bahamas

Re: Vacancy: Chief Financial Officer

THE TRIBUNE



ee Oe

ce

Deputy Chief Financial Officer (DCFO) is

ere ev ere

The Bahamas Telecommunications Company Limited (BTC) invites applications for the above
position from suitably qualified persons with relevant experience in the telecommunications or.
related industry.

GENERAL ACCOUNTABILITIES

The holder of this position assists the Chief Financial Officer as he or she develops and directs
the Company’s accounting and control activities to protect the assets of BTC and to ensure the
internal and external integrity of accounting standards and financial controls. The CFO is to
provide accurate and timely monthly corporate performance reports and annual budgeting
information to Board members, executives, senior managers and line managers. The CFO also
directs the formulation and implementation of the Company’s financial goals and objectives
including cash management, banking and relations with banks and investment firms, risk
management and capital funding requirements. The enhancement of revenue (including the
implementation of measures to stop revenue leakage) is an important requirement for this position.

This is an executive management position reporting to the Chief Financial Officer (CFO).

SPECIFIC ACCOUNTABILITIES

To assist the CFO and provide leadership in the Finance Division with the following:

1. Develop and direct the Company’s accounting and control activities to protect the
assets of BTC, to ensure the internal and external integrity of accounting standards
and financial controls, and to provide accurate and timely reporting and budgeting
information to Board members, executives, senior managers and line managers.

2. Direct and prepare for printing and distribution all statutory accounts and annual
audited financial reports.

3. Direct the formulation and implementation of the Company’s financial goals and
objectives including: cash management, banking and relations with banks and
investment houses, risk management and capital funding requirements.

4, Provide the Board and Executive Management with informed and timely opinions
‘on the Company’s financial performance and trends impacting operations.

5. Protect the assets of the Company by directing the accounting and control, financial
planning, statutory reporting, and risk management activities on a company-wide
basis.

6. Enhance the Company’s public image by ensuring the integrity of accounting and
control standards and procedures and by providing the published annual report on a
timely basis.

7. Contribute to the aims and objectives of BTC by providing informed advice relative | ,
to the Company’s financial performance, the general business environment and
developing trends impacting BTC’s activities.

8. Contribute to increased corporate revenues through effective cash management and
by preparing and presenting financial operating data for Board and executive approval.

9. Contribute to the reduction of operating expenses through the development and
implementation of accounting and control procedures and systems to provide accurate
and timely data for the information of the Board, executives and managers.

~ 10. Ensure the Company’s continued access to capital at competitive rates by ensuring
the flow of financial information, by maintaining contact with commercial and
investment banks and by directing accurate and timely financial planning and
budgeting.

11. Ensure the necessary human resources to meet both the current and future needs of
the finance division by participating in the selection, mentoring, motivation and
development of managers and staff.

12. In the absence of the Chief Financial Officer to attend as required all meetings of
the Executive Committee and the Finance Committee of the Board and any other
relevant committees.

13. To arrange for the audit of BTC’s financial statements in a timely manner and to
liaise with BTC’s external auditors as required.

14, To ensure prompt action to implement recommendations made by the Internal Audit
Department in their reports to the Audit Committee of the Board and the senior
management.

REQUIREMENTS

The successful candidate should be a member of a recognized accounting body from the U.K.,
Canada or the USA, possess a thorough working knowledge of International Accounting Standards
(IAS) and meet the following requirements:

¢ ACPA or ACA designation with at least five (5) years of commercial post-qualification
experience with proven management experience in the telecommunications industry.

¢ Exceptional interpersonal and communications skills.

¢ Expertise in implementing Enterprise Resource Planning (ERP) systems.

COMPENSATION.

BTC offers a competitive salary and excellent benefits commensurate with qualifications
and experience and ‘in line with compensation and benefits afforded senior executives in
the private sector.

It is BT'C’s intention to execute a contract with the successful applicant for a period of three
(3) years with an option to renew the contract for a mutually agreed period.

All applications are to be received at BTC’s Head Office, 21 John F. Kennedy Drive, no later
than June 6th, 2006 and addressed as follows:

Director of Human Resources

The Bahamas Telecommunications Company Limited
John F. Kennedy Drive

P. O. Box N-3048

Nassau, Bahamas

Re: Vacancy: Deputy Chief Financial Officer



THE THIBUNE ")

FRIDAY, MAY 19, 2006, PAGE 15/\~

Carin el alte
tarectiiy inert ar:
mere oni







a KATINA Seymour, humorous speech contest runner-up at the district’s fall conference in
October 2005; Craig Valentine, past winner of Toastmasters’ World Championship of Public
Speaking. Over 75 Bahamians are expected at the upcoming Florida conference.

(Photo Anthony Longley)

Toastmasters
1ead to Florida
r conference



TAMPA, FL- ‘The Baharaas
Ministry of Tourism will join
hundreds Of toastmasters this
week¢nd as they flock ‘to the
Cocoa Beach Hilton for the
annual Spritig‘Conference of
Toastmasters International Dis-
trict 4Â¥.

Organisers say it is expected
to be jan exciting weekend for
the hundreds of individuals who
have ¢ommitted to improving
their dommunication skills.

Satyrday-has been designated
“Bahamas Day”. The Bahami-
an delegation, with the dssis-
ran of a. a DOM enone team

¢ .
from the Ministry of Tourism,
will showcase things Bahamian.

These will include Bahamian
music, decorations and
junkanoo centrepieces. There
will be door prizes including
hand crafts sponsored by
Bahamian business persons.

The Bahamas division will
also be represented in the
speech contests by Toastmas-
ter Ilsa Evans and Distinguished
Toastmaster Michael Patton.

Said a Toastmasters statement:
“If you are like most people,
public speaking is not your
favorite pastime. Yet survey after

survey shows that presentation
skills are crucial to success in the
work place. The person with
strong communication skills has
a clear advantage over tongue-
tied colleagues — especially in a
competitive job market.

“Many people pay thousands
of dollars for seminars to gain
the skill and confidence neces-
sary to face an audience. But
there’s another option that is
much less expensive and held
in high regard in business cir-
cles — Toastmasters Interna-
tional,” the statement said.

Toastmasters International |



started in 1924 with one club at a
the YMCA in Santa Ana, Cali- \
fornia. It has grown to become
the world’s leading organisation
for helping people conquer their
pre-speech jitters.

It is a non-profit educational
organisation that teaches public
speaking and leadership skills
through a worldwide network
of clubs.

The organisation currently
has around 211,000 members in
10,500 clubs in 90 countries.

one of 24 Frescata Picnics for up to 12 friends!

Conmontvenlth Sy uneral .























































Drawings will be held each week for (4) weeks. Tune in to 100
JAMZ and JOY F.M radio stations for details.











~ Retired Prison
Officer
yiMr..Charles
‘Sidney Sweeting,
- 712. affectionately
‘called "Babe"

formerly of. Wemyss
Bight Eleuthera, and a
resident of Ridgeland
Park East, will be held
on Saturday, May 20th,
2006, 11:00 a.m. at The
Chtistian Prayer Contre Faith Avenue North. Bishop
Cidely D. Williams assisted by Elder Leon Williams
and Bishop Ernest Sweeting will officiate and interment
will follow in Woodlawn Gardens, Soldier Road.

Precious memory are held by, his children, Annalee
Woodside, Cynthia Smith, Olympia Pearce, Sidney,
Chandler and Keva Sweeting; 6 grand-children,
Christal Woodside, Cynthra Smith, Ketarrio Annbrister,
Mercette Pinder, Valdez Pearce and Malcolm Smith
Ir} 2 sisters, Mable Delancey and Vera Rolle; 2
brothers, Fr. Stafford Sweeting and Gifford Sweeting
of ‘Wemyss Bight Eleuthera,.umerous nieces and
nephews, 1 aunt, Effie Brown of Miami Florida; 1
daughter-in-law, Melvern Sweeting; 2 sons-in-law,
Clémenth Pearce and Bernard smith; 7 sisters-in-law,
Kay and Agnes Sweeting of Wemyss Bight Eleuthera,
Sybil Sweeting, Cora Bullard of Freeport Grand

Bahama, Ilene Grant, Maura Bullard and Cynthia
Capron; 1 brother-in-law, Hugh Bullard; 1 God-child,
Simeon Rolle Jr., other relatives and mends include;
J ennie Sweeting and family, Mary Sweeting and family,
Idena Burrows and family, Dorothy Rolle and family,
Father James Moultrie and family, Esther Daxon,
Shirley Scavella and family, Florence Johnson and
family, Mr. Stubbs and family, Carmetta Johnson and
family, The Christian Prayer Centre Members, Kenneth
Sweeting, Sister Verneisha Jaitor and family, Sister
Pearl McKenzie and family, Mother Pat and family,
Mr, Munroe and family, Mr. Ferguson and family, Ms.:
Taha Knowles and family, Kemp Road Crew, Terry,
Stéphanie, Linda, Elizabeth Sweeting, Basket Ball
Coach'Pegs, Chestnut Crew, Mr. and Mrs. Jerry Kemp
and family, Sybil Peter and family, Mr. J. Smith.,
Ridgeland Park Crew, Centreville Crew, Ms. Debbie
Deleveaux and family, Miss. Blanche Rolle and family,
Coconut ‘Grové Crew, Sandra Humes and family,
Raquel, Monique: and family, Nurse Ingraham and
family of Miami Florida, Ms. Tanya Major and family,
Mg. Gwen Hunt, Ms. Magnola Walker, Ms. Lockhart,
Msg. Minnis, Ms. Moxey, Mr. Hutchinson, Ms. Viola
Marshall, Mr. King Johnson and family, Adelaide
Village Crew, Ms. Chisholm and family, Katie and
Margaret Smith.

Relatives and friends may view the remains at THE
CHAPEL OF MEMORIES INDEPENDENCE
DRIVE on Friday from 10:30 a.m.-6:30 p.m. and at
the church on Saturday from 10:00 a.m. to service
time.






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PAGE 16, FRIDAY, MAY 19, 2006 THE TRIBUNE



LOCAL NEWS



E Clement
Bethel National
Arts Festival
adjudication



m@ ABOVE: SNUG COR-
NER, Acklins — Snug Corner
Primary School students
singing at the adjudication.

@ LEFT: Acklins resident
Ms Portia Cox telling the
story of the Cascarillaplant.

@ RIGHT: Lovely Bay
Primary School student
Ashley Williams dancing.



(BIS photos: Eric Rose)



mY FRIENDS AND | WOULD LIKE TO INTRODUCE YOU TO A NEW GAME.



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with these legends of West Indies cricket, I'll be | :
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FRIDAY, MAY 19, 2006

SECTION

business@tribunemedia.net



(ee

BUSINESS

Miami Herald Business, Stocks, Analysis, Wall Street







‘Seamless transition’ for
winning City Markets bid.

@ By NEIL HARTNELL
Tribune Business Editor



he all-Bahamian

investor group that yes-

terday saw its $54 mil-

lion acquisition of the

majority stake in
Bahamas Supermarkets approved by
a US Bankruptcy Court will not “do
anything dramatically different” with
the company’s operations, The Tri-
_bune was told last night, having
dropped the foreign component from
its bid.

Anwer Sunderji, chairman and
chief executive of Fidelity Merchant
Bank & Trust, which advised BSL
Holdings on the deal, said the all-
Bahamian investor group was “look-
ing forward to closing swiftly on this
transaction”, which is likely to be the
biggest buyout ever for a commer-
cial, non-hotel business in this nation.

With the sale of Winn-Dixie’s 78
per cent stake in Bahamas Super-
markets now approved by the Bank-
ruptcy Court in Jacksonville, only reg-
ulatory approval for BSL Holdings

| Bahamas can ‘hold

Government approval likely after removal of Neal & Massy
from $54m offer, but replacement required by BSL Holdings

from the Bahamian authorities
remains.

This has been made much simpler
by the removal of Neal & Massy
Holdings, the Trinidadian industrial
conglomerate that was the foreign
ownership component, from the BSL
Holdings bid team.

This has removed a potentially

tricky task for the Government,
namely having to approve an acquisi-

tion involving a foreign company ina -

sector of the economy reserved for
100 per cent Bahamian ownership
under the National Investment Policy.
Now, BSL Holdings will only require
Exchange Control approval from the
Central Bank of the Bahamas.

The Tribune understands that Neal
& Massy was removed from the BSL
Holdings investor group due to Winn-

Dixie’s concerns that the need to
obtain Bahamian government
approval might hold up the sale’s
completion.

Winn-Dixie is in Chapter 11 bank-
ruptcy protection in the US, and the
grocery retailer and its competitors
will want to receive the $54 million
purchase price as rapidly as possible,
not have it held up in the Bahamian
government’s approval process.

The removal of Neal & Massy will
create advantages as well as a down-
side for the BSL Holdings bid. The
absence of any foreign ownership
component has removed the final
trump card that was held by rival bid-
der, BK Foods, which was previously
able to portray itself as an all-Bahami-
an bid.

However, the loss of Neal & Massy

means that the BSL Holdings bid has
had to be restructured at short notice.
It is understood that the Trinidadian
firm was going to take a 40 per cent
stake in the bid, and their absence
means that BSL Holdings will have to
attract additional sources of Bahami-
an-based financing, either equity part-
ners, debt or a combination of the
two.

Meanwhile, Mr Sunderji said yes-
terday: “We are very pleased to have
advised the investor group and suc-
ceeded in acquiring City Markets at a
fair price, and are looking forward to
closing swiftly on the transaction.

“We expect the transition to be
seamless. We don’t expect to see any
significant changes in the way the
company is operated and managed.
We’re quite happy with this.

“There are no plans to do anything

dramatically different. Don’t try to —

fix what is not broken. It’ll be business

as usual. There are no fundamental —

changes that are likely to take place.
It’s steady as she goes. Nothing is
going to change.”

Although leading Abaco Markets
shareholders, including its chairman
and chief executive Craig Symonette,
Frank Crothers, and Franklyn But-
ler are among the investors in BSL
Holdings, The Tribune was told they
are several among many. Mr Symon-
ette was said not to be among the
principals. ik

The Tribune was the first to reveal
that Fidelity was advising and struc-

SEE page 5B

Central Bank bids to reduce exchange control red tape.

our ground’ over
tax exchange deals

@ By CARA BRENNEN
Tribune Staff Reporter



THE Bahamas has the stan-
dards in place to accommodate
any Tax Information Exchange
Agreement (TIEA) that was
in its best interests to sign, the
Ministry of Finance’s legal
adviser said yesterday.

Speaking at a Bahamas Insti-
tute of Financial Services sem-
inar, Rowena Bethel, who is
also the Compliance Commis-
sion’s executive commission-
er, said that the Bahamas had
the ability to “ hold our
ground” in the face of further
requests for TIEAs from mem-
bers of the Organisation for
Economic Co-Operation and
Development (OECD).

Ms Bethel said that in her
view, when it came to TIEAs,
the Bahamas stood head and
shoulders above other juris-
dictions.She also predicted that
the issue of TIEAs would not
go away, but would increase

in the future.

_ She said the Bahamas
remained on the right track, as
long as it continued to ensure

CSME
membership
might force
position change

there was appropriate aware-
ness in the industry.

Ms Bethel added that in
2002, the Bahamas signed a
provisional commitment to the
OCED’s ‘harmful tax prac-
tices’ provided it created a ‘lev-
el playing field’.

She said that in the world of
tax information exchange, it
was very difficult to create a
standard on how things should
proceed.

Instead, she said it was real-
ly a bilateral issue, with the
exception of trading blocks
whose members would ‘have
all agreed on a position.

Should the Bahamas sign on
to the Caribbean Single Mar-
ket Economy (CSME), Ms
Bethel added, the country
would have to give serious
thought to its position.

Grand Bahama firms
lose key employees

GRAND Bahama’s already
depressed economy has been
further harmed by the Immi-
gration Department’s new
approach towards work permits,
_ the Haitian-Bahamian Society’s
‘president has told The Tribune,
with companies losing key
employees, including some who
‘ have had up to 18 work permit
renewals.

Jetta J. Baptiste-Polynice said
‘she knew of one janitorial busi-
ness where five of its best
‘employees were deported. She
‘added: “They have contracts
‘they are no longer able to fulfill,
‘can’t meet the clients’ require-
ments, so they'll go out of busi-
-eness.”

Ms Baptiste-Polynice said of
the impact on Grand Bahama’s
economy: “We’re at the bot-
, tom. No one is making any
money: A few businesses are
trying to survive, and they’re
having to go through this.

“Why is the Government
constantly trying to destroy the
few business establishments that

are struggling to make it in an
already depressed economy of
Grand Bahama?”

The Tribune reported earlier
this week that Grand Bahama
businessmen and Port Authori-
ty licencees were complaining
that the Department of Immi-
gration’s new approach to con-
sidering, granting and renewal
of work permits was causing
problems for their companies
and the wider economy.

Ms Baptiste-Polynice told
The Tribune that the new
approach was “creating a prob-
lem all around”, with Immigra-
tion Officers allegedly picking
up workers employed as dish-
washer and cooks in Port
Lucaya restaurants, and doing
searches and raids on construc-
tion sites.

She added that the Immigra-
tion Department had yet to ful-
ly explain what its new policies
were, with different interpreta-

SEE page 4B

@ By CARA BRENNEN
Tribune Statf-Reporter

THE Central Bank of the
Bahamas has introduced a num-
ber of measures to eliminate the
red. tape and paperwork asso-
ciated with the exchange con-
trol approvals process, its gov-
ernor Said yesterday. —

Acknowledging that the Cen-
tral Bank supports a general
phasing in of relaxed exchange
controls, Wendy Craigg told a
Bahamas Institute of Financial
Services seminar that it want-
ed to streamline certain proce-
dures to make the process more
efficient for both sides.

She said the Centra! Bank
had introduced a number of



$

relaxation measures,
in specific-cases grant-
ing approval for per-
sons on work permits
to receive a blanket
approval for the entire
duration of their per-
mit, allowing them to
send 50 per cent of
their income out of |
the Bahamas to cover
normal commitment —
expenses.

In other cases, Mrs
Craigg said Bahamian
franchise holders could give the
Central Bank a projection of
their franchise fees for the year.
Rather than have to make sev-
eral applications to pay them
over short timeframes, they



mW CRAIGG

_ approval, for a longer
period.

In addition, the

Central Bank is work-
ing with the holders of
overseas loans to
ensure there is debt
servicing for approved
loan commitments
_ once the proper docu-
ments are presented.
_ “We are trying to
get the process more
streamlined for us and
for them because, as you can
imagine, we are inundated with
paperwork,” she said.

Ms Craigg also explained that
the Bahamas International
Securities Exchange (BISX)

could receive blanket

was in the process of completing
the framework that would allow |
Bahamian companies to list; on’
CARICOM stock exchanges,

equity equivalent to 10 per cent
of the issue amount, up to a val-
ue of $20 million.

Mrs Craigg explained that
this came as a result of a Capital
Market Study done two years
ago which, when completed,
recommended that there be
stronger ties with CARICOM.

The framework is expected
to be completed by year end,
she added.

Mrs Craigg said that while the
Bahamas remained challenged
by the effects of globilasation,
the country’s prospects seemed
quite encouraging.



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PAGE 2B, FRIDAY, MAY 19, 2006

THE TRIBUNE ‘23?



BUSINESS



Get creative when financing business.

find what you have. You may have
stocks and shares, jewellery, elec-
tronics, furniture, cars, motorcycles,
boats, timeshares and properties, all
of which can be used to finance your
business.

Then start selling your stuff. There
are many ways of doing this now.
With the power of the Internet, you
can e-mail a list of items to your
friends with one click of your finger.
Then try selling the remainder in a
jumble sale. You can also use Internet
auction sites, such as EBay, as a sur-
prisingly easy way to dispose of your
assets to the widest possible market.

Option two is to downsize your car.
Do you really need that big gas-guz-
zling car that is expensive to insure
and run? Consider selling it and get-
ting something smaller. If you own
your car, try to release more equity
by leasing a smaller car with a small
down payment, if possible. This cre-
ative form of financing will net more
money, although you will be left with
a monthly payment. This will also
show your, prospective investors that
you are serious about your business
venture.

Option three is to collect your
debtors. If anyone owes you money,
this is the time now to practice your
accounts receivable function, a skill
that will prove helpful in your busi-
ness going forward.

hen you are start-
ing out as self-
employed or a
business owner,
one of your biggest
challéibes will be raising sufficient
- capital to get your business off the
_ ground.
- You will need to find some seed
money to demonstrate to your family
and friends, and other investors, that
_ you are worth investing in. This infu-
- sion of money that turns your idea
into something tangible is known as
start-up financing.

Options

The good news is that there are sev-
eral options available to you to get
your: business venture going.

The first option is to start selling
_» your.assets. Make a list of the things
+. you ‘own and work out a disposal
| Ae schedule. You may be surprised to

AIAG %

INSIGHT

For the stories
. behind the news,
a igct-lo Maye l sy
. on Mondays
















Ces

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investment banking = +

CITIBANK N.A., NASSAU, BAHAMAS BRANCH



Smith Barney, Banamex, | ao ueyeley Life and Annuity.

We are currently accepting resumes dor the following position: -

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Knowledge/Skill Requirements:



¢ Detailed understanding of Bahamas and US financial legislations.

compliance audit or internal control credentials would be a plus.



Duties:



the risks associated with all buisiness activities, products and processes.

regulatory requirements.

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Option four is to borrow against ©




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curing the pails

Business

Sense



‘preneurs, this is a tried and tested

temporary way of raising money, but
it does carry risk. The advantage is
that it is quick and easy to do. The dis-
advantage is that it is a very expensive
way of borrowing. Yes, you can often
make small monthly payments to car-
ry a lot of credit card debt, but the
repayment rates are high and this
should only really be seen as an inter-
im solution while you raise funds for
your venture. And, if things go well,
your business can quickly repay the
loans to reduce your credit card debts
to their earlier levels.

Borrow

Option five is to borrow against
your home. If you have equity in your
home, this is a tried and tested
method of releasing money for your
business venture. If you have a prop-
erty worth $300,000, and have an
existing mortgage of $100,000, you
can apply to have your mortgage
amount increased. This.is a great way
of releasing funds, although you will
be left with a higher monthly mort-





















gage payment going forwards.

Try to avoid a second mortgage, as
this will often attract a higher interest
rate. If your existing bank won’t help,
then shop around and refinance with
another bank or mortgage company.
The market is very competitive and
you may even be able to increase your
mortgage and yet keep your payments
the same.

Whether it is a home equity loan or
a refinancing process, you should put
some of the money aside to meet your
monthly payments until your busi-
ness is able to pay you a sensible
salary. This process carries much risk,
as business failure could render your
homeless, so think carefully before
you try this option.

Option six is to borrow against your
Insurance Policy. If you have a whole
life policy, then you may be able to
borrow against the cash value of your
policy. The amount you can borrow
depends on the individual insurance
company, but some insurance com-
panies allow you to borrow amounts
up to 90 per cent.

So, write to your insurance compa-
ny requesting a loan. Loans are nor-
mally reasonable and may even be
cheaper than a bank loan. Make sure
you keep up with your monthly pay-
ments so that your policy keeps cur-
rent. Also, take advice and find out
how this loan will affect your benefi-
ciaries if and when you die.

Option seven is to borrow against

50 EASY TO

e

your investments. If you have stocks. .
and shares, you may be able to bor-,
row against them, or use them to.
secure a loan. But there are risks. If.
your stocks and shares decline, you
may well have to put up more stocks, ,
and shares, or margin to stop you ;
from defaulting on your agreement.

Retirement

Option eight is to borrow against +
your retirement plan. If you live in .,
the US, then it will be possible to bor-)_:
row against your employer’s pei
retirement plan. If there is a similar: :
type of plan available at your place of «|
work, check to see if you can borrow < ‘
against it. As you can see, there are’
several ways for you to come up with ‘

seed money for your venture. Cre- \

ative financing will show your poten-’!”
tial investors that you are prepared to â„¢!
put your own assets on the line. So, in‘? !

order to avoid the trap of antipreneur-’ ° ~~

ship, make sure you spend time in
this area to help get your business of

' the ground.

NB: Adapted from his upcoming * 2
book, Antipreneurship And How to £
Avoid It, Mark draws on 20 years of.
top level business, marketing and
communications experience in Lon- |
don and The Bahamas. He consults ©
and currently lives in Nassau, and can ~*-
be contacted at: markalex- }
palmer@mac.com oR

© Mark Palmer. All rights reserved

IVE & FORGET"

Interest Rate
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Assisting in developing and implementing a local Anti- Fraud Plan’ which includes stat taininhe



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i as ‘well as the status of corrective action plans and escalating any slippages to senior management.

° Verifyin that operational procedures and’ internal controls exist fot ¢ évery: product and service
provided by the bank, commensurate with level of inherent risk through peroidic
independent testing. —



rrverervere



¢ . Reporting to Senior Management on the adequacy and efficacy of the system of internal control
(accounting, operating and administrative).





Interested applicants may deliver, fax or e-mail resumes to:




‘Business Head

. Citigroup Corporate and Investment Bank
4th Fir., 110 Thompson Boulevard,
Nassau, The Bahamas

. Fax:(242) 302-8569

==" ertigroup)

Resumes should be recieved by June 1, 2006

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Life, Money, Balance thiath

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“In order to stay abreast

of what’s happening in
the local economy, we ' eb EEN
turn to The Tribune as MONDAY TO FRIDAY
our source of information.

The Tribune is my

newspaper.”

The Tribune
Uy Voice, Ply Howpapor!

TROY SAMPSON
APPROVED LENDING SERVICES







THE TRIBUNE

FRIDAY, MAY 19, 2006, PAGE 3B





US eyes lifting its drilling ban:

@ By H. JOSEF HEBERT
Associated Press Writer

WASHINGTON (AP) —
The House on Thursday debat-
ed whether to end a quarter-
century ban on offshore oil and
gas development in coastal
waters outside the'western Gulf
of Mexico, weighing arguments
that new supplies are needed to
lower energy prices.

The drilling ban was removed
from a $25.9 billion Interior
Department spending bill in
committee as it applies to nat-
ural gas and an amendment,
offered on the House floor on
Thursday, would lift the mora-
toria-on offshore oil drilling as
well.

Supporters of the drilling
moratoria, first imposed in 1981
and renewed by Congress each
year since, scrambled to try to
restore the natural gas provi-
sion and also defeat the amend-
ment on oil drilling as lawmak-
ers moved toward a late-night

final vote on the spending leg-
islation.

The provisions for the first
time in 25 years would allow oil
and gas development within
three miles of shore along
coastal areas “where tens of mil-
lions of our citizens have made
it clear that they don’t want any
more drilling,” said Rep. Lois
Capps, D-Calif.

Capps planned to offer an
amendment to continue the
drilling prohibitions.

Florida lawmakers — both
Democrats and Republicans —
said energy development off the
state would threaten a multibil-
lion dollar tourist industry.
Florida depends on tourism
“and we’re going to protect it,”
vowed Rep. Alcess Hastings,
D-Fla.

Opponents of the drilling
moratoria argued that access to
offshore oil — and especially
natural gas — would drive
down energy prices and help
reduce the country’s depen-

dence on foreign sources of
energy.

“We have lost millions of jobs
already because of high energy
costs and we’re going to lose
millions more,” said Rep. John
Peterson, who has argued for
lifting the ban on natural gas
drilling.

Soaring natural gas prices,
which have quadrupled since
1999, have forced companies —
especially in the chemical and
fertilizer industries — to con-
sider moving overseas where
fuel prices are much cheaper,
he said.

Peterson’s measure would lift
the congressional ban which
prohibits the Interior Depart-
ment from offering oil or gas
leases in waters along both
coasts and in the eastern Gulf of
Mexico.

But it would not affect a pres-
idential moratoria, issued by
executive order; that is in effect
until 2012.

Drilling proponents also

US mortgage rates
hit four-year high

@ By JEANNINE AVERSA
AP Economics Writer

WASHINGTON (AP) —
Rates on 30-year mortgages
climbed this week to their
highest point in nearly four
years, helping take the exu-
berance out of the housing
market.

Freddie Mac, the mortgage
company, reported Thursday
that forthe week ending May
18 rates on 30-year, fixed-rate
mortgages averaged 6.60 per-
cent, up from 6.58 percent last
week.

This week’s rate was the
highest since the week ending
June,20, 2002, when_30-year
mortgages ‘stood at 6.63 Pern.
Certts aii Mas

arn nbn oama =

“While financial markets try
to decipher the spate of recent-
ly released economic reports,
mortgage rates drifted slightly
higher,” said Frank Nothaft,
Freddie Mac’s chief economist.
“The current debate is
between rising inflation and
slower consumer spending.
Until the market finds out
which influence will be the
strongest, mortgage rates
should continue to fluctuate,”
he said.

Other rates also went up this
week.

Rates on 15-year, fixed-rate
mortgages, a popular choice
for refinancing a home mort-
gage, rose to 6.20 percent, up
- from 6.17, percent Jast week.



in

(No. 45 of 2000)

: er |

iof Dissolution has been.

siied and the Compafiy ‘Has feria been

struck off the Register. ‘The date of completion of the dissolution was

the 11th ay of ey, 2006.

TST



Major International Bank is seeking a

SENIOR INTERNAL
CONTROLLER

Position:

Applies head office control methodology and program
Performs key controls based on risk assessment
Communicates findings to persons in charge
Follows-up on errors and irregularities to check for
implementation of recommendations and corrections
Participates in the assessment and improvement of

procedures

Reports to the Audit Committee, Head Office and

Senior Management

Requirement:

3 to 5 years experience in an international audit firm
Detailed knowledge of auditing principles
Dynamic, self-stater with motivation and initiative,
able to manage multiple and sometimes competing

priorities.

Ability to deal easily with all levels of management
Clear oral and written communication skills

Team player
Computer literate

Remuneration:
¢ Commensurate with the candidate experience

Candidates are invited to send their
resume and a motivation letter to

P.O. Box CR-56766
Suite #373
Nassau, Bahamas



hybrid:

adjustable-rate mortgages,
rates edged up to 6.23 percent
this week, compared with 6.22
percent last week.

However, rates for one-year

adjustable rate mortgages aver- °

aged 5.62 percent this week,
unchanged from last week.
Higher mortgage rates are
slowing home sales. For five
years in a row, home sales hit
record highs as low mortgage
rates beckoned buyers.
Federal Reserve Chairman
Ben Bernanke, speaking in
Chicago Thursday, noted the
slowing in both home sales and
residential construction. “It
seems pretty clear now that the

larket is cool-.

> Our-agsessment at lena
vee Tas that this looks tobe’
“a very “orderly and moderate

point:
‘kind of cooling,” Bernanke
added.

The mortgage rates do not

A include add-on fees known as
“points. The one-year ARM

carried a nationwide average
fee of 0.7 point; the other three
mortgage categories each had

_an average fee of 0.5 point.

A year ago, 30-year mort-
gages averaged 5.71 percent,
15-year mortgages stood at
5.27 percent, one-year ARMs
were at 4.26 percent and five-
year ARMs averaged 5.07 per-
cent.

To advertise
ae t=)
eel ieee
call 322-1986

Pricing Information As Of:
18 May 2006

Abaco Markets

faced an uphill struggle to get
the moratoria lifted in the Sen-

‘ate, where senators from coastal



states likely could block any
such action.

President Bush has said he
has no plans to remove the
drilling ban.

But Capps said if Congress
lifts its moratoria and declares
that coastal waters should be
opened to drilling, she fears the
president “is going to revoke
his moratoria” as well.

The offshore drilling issue has
divided Congress largely along
geographic lines.

Lawmakers from coastal
states —both Republicans and
Democrats — worried that

CO REO RUD Tea

A bank and trust OUD EDY is accepting applications for a Compliance

Officer.

drilling offshore could threaten
their tourist and fishing indus-
tries and bring risks of environ-
mental damage.

“People don’t go to visit the
coasts of Florida or the coast of
California to watch oil wells,”
said Rep. Sam Farr, D-Calif.

But many lawmakers from
landlocked states favor devel-
oping the offshore energy
resources, arguing the huge
reserves of natural gas beneath
the waters of the Outer Conti-
nental Shelf from Alaska to
New England represents to
quickest way to gain access to
new gas supplies.

Separately, an attempt to
debate climate change — and

Knowledge/Skill Requirements

e Extensive working knowledge of compliance policies and internal

control procedures.

Detailed understanding of Bahamian financial legislation.
e Minimum 3 years supervisory experience in compliance and/or

Operations.



for the first time bring up for-é
vote the idea of mandatory caps”
on greenhouse gases — was
averted when a “sense of Con-
gress” resolution on the subject
was ruled out of order as part of .*
the Interior spending bill. >’
The climate provision offered
by Rep. Norman Dicks, D-
Wash., would have put law-

makers on record as agreeing ,- ,

that human actions were con-

=

eae
LF, |

ae9'9*

oo

tributing to global warming and. ,
that carbon emissions into. the. |

atmosphere should be limited.

The Senate approved a simi: * °
lar sentiment as part of anener- | -

gy bill last year, but it was

removed in negotiations with ”

the House on the bill.

i i.
>eReeeee aan

es

¢ Bachelors Degree with a concentration in Finance, Economics
Accounting or Law,
¢ Certified compliance, audit or internal control credentials or BACO
membership would be a plus.
e Superior analysis, communication (oral and written) and project
management skills.
e Extensive working knowledge or PC applications.

Duties

Developing / ensuring that an adequate AML/CFT and compliance
programs exists which suitably cover the risks associated with all
business activities, products and processes.
Administering the compliance program through the dissemination
of any relevant training programs or materials aimed at improving
the Bank and Trust Company’s compliance culture and adherence
to regulatory requirements.
Developing procedures for, and periodically executing, independent
in-depth testing of the effectiveness of business’ compliance with
applicable local laws, regulations and policies.

To ensure compliance with relevant legislation, group internal
policies and procedures.

Staff training.

Play an active role in monitoring, containing and eradicating
reported and emerging control issues as well as the status of
corrective action plans and escalating any slippages to senior

management.

Verifying that operational procedures and internal controls exist
for every product and service provided by the organization,
commensurate with level of inherent risk through periodic
independent testing.

administrative).

Bahamas Property Fund
Bank of Bahamas

Benchmark

Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings
Commonwealth Bank
Consolidated Water BDRs
Doctor's Hospital

Famguard
Finco

FirstCaribbean

Focol

Freeport Concrete

ICD Utilities

J. S. Johnson
Kerzner International BDRs

52wk-Hi 52wk-Low

Bahamas Supermarkets
Caribbean Crossings (Pref)

28.00 ABDAB

Bahamas Supermarkets
RND Holdings

Colina Money Market Fund
Fidelity Bahamas G & | Fund
Colina MSI Preferred Fund

1.286664*
2.7451 ***
2.329423**

Colina Bond Fund

52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close
Today's Close
Change - Change in closing price from day to day
Daily Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months
12 month earnings



sing price divid thi

- Previous day's weighted price for daily volume
- Current day's weighted price for daily volume

Colina

Financial Advisors Ltd.

Fax: 242-325-6765





RNa RSE
led by closing price

Bid $ - Buying price of Colina and Fidelity
Ask § - Selling price of Colina and fidelity.

Last Price - Last traded over-the-counter price
Weekly Vol.

- Trading volume of the prior week

Reporting to Senior Management on the adequacy and efficacy of
the system of internal control (accounting, operating and

Please fax your CV along with references to the attention of:
Chief Operating Officer



0.00%)
3.86%
4.80%
4.09%

Serer eesser



EPS $ - Acompany’s reported earnings per share for the last 12 mths
NAV + Net Asset Value

N/M - Not Meaningful








- 31 March 2006

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PAGE 4B,







IE aI a TT TT TT a Be Te DEE RE MS ST a

FRIDAY, MAY 1

ARNT NL OAL STC





af
é . ae ae ae i



2 aaeemineal oa Wes
sea eGR | Mayet

LEP LAME SEED: TPES ER REE TITY SP CRT

Dear Shareholders,

We present our financiai staten ending February 28, 2006.



With this, we are very ple ificant revenue increase in the
concrete pliant operat iillion for the first six months of this fiscal
compared to $1 milhon for the same period last year



rete plant in

na Rock facility.

This relocation
er our cost of

n production costs is we
> plant, which is

in addition, we have
Freeport from its cur
We expect to have this move coms
will significantly reduce ot UE
producing concrete. The major reason
will no longer have to truck sand and a
presently several miles away
Rock facility, these consid




rent site to it









SR YW asy¥



Turning to the Home Ce
six months this fiscal co
However, considering that we
the damaged leased Pee! 5S
building supplies, we are pleased that we
market share. Due to the lower nie



sare period last year.
ihe usable retail area of
imarily sell only
niain sales and



Mp







our overall gross profit margin
We are very excited that the new Hon e on Atlantic Drive in
Freeport is drawing close to completion anu we aie targeting to open yin our new



facility early summer 2006. Once in our new store. we : “pect our sales and

gross profit margins.to improve
imited and feel

right i future for Freendri { } frit iy i

We anticipate ab

confident that we are moving forward in

Ray Simpson
Chief Executive Officer
April 21, 2006

Freeport Concrete ¢

Cconsehidated Statersent 0}







Bmory ahs x sanded















Pebruary 2
Payroll costs L447 192
Other operating costs 513,146
Rent expense | 242 275
Advertising expenre 140, 420
‘Incorme/(ios
depreciation and amor 629 198
DBepn and amort. expe (423.131)
‘ Ie ‘

Pro cor car he? ME y “46 228
Minority interest in ga 3,787
467,304

Basic and i ' 0.099
poeonpeoe nen et srieinceieeseimmeesesiasiamanaett



Please note that the 6 months to Febrs VISION,
which was sold on August 317, 200 ;

SUSE HEE 93S mw waren

BUSINESS




inside the Bahama

9 milfion for the first

ugh tis affecting .

Grand Bahama firms lose key employees

FROM page 1B

- tions coming from every officer

asked.

The Tribune attempted for
two days running to contact
Shane Gibson, minister of
labour and immigration. On the
first day, he referred this news-
paper to Vernon Burrows,
director of immigration, who
did not return calls seeking
comment.

On the second day, neither
Mr Gibson nor Mr Burrows
could be contacted.

Previously, one business
source said it appeared that any
worker granted their first work
permit in 2004 or later was not
being granted a renewal.

In addition, work permit
holders who had legally
switched to new jobs with other
companies in 2004 and after
were being “denied renewals”
for no apparent reason.

To obtain a work permit
renewal, such workers are hav-
ing to leave the Bahamas, go
home and wait while their
employer reapplies for a per-
mit. Companies are often pick-

‘ing up the costs of flying

employees back home, then
bringing them back.

Ms Baptiste-Polynice ques-
tioned how the Government
could ask for work permit appli-
cations to be submitted from
the applicants home country
when there was no system or
infrastructure in place to accom-
modate this.

°



She said: “Will the minister
kindly tell us where in Haiti
can an immigrant go to apply
for a work permit? Who can
they see? What is the address
and phone number of the immi-
gration office in Haiti or any
other country, for that matter,
that is handling these matters?

“Why are they deporting per-
sons who have been here for
more than 49 years? Why are
they deporting persons who
have held more than 18 work
permits?.”

Ms Baptiste-Polynice said the
policy was also breaking-up
families, with wives unable to
gain spousal permit renewals.

However, some callers to The
Tribune backed the Govern-
ment for its hardline approach
to clamping down on illegal
immigration.

“TI feel the Government is on
track by putting all permits on
stop for now,” he said, arguing
that this would help to clear all
fraudulent permits and illegal
immigrants out of the system.

The caller added that he
knew of Bahamians looking for
jobs in the landscaping, gar-
dening and agricultural indus-
tries, but complained that
employers were not paying
attractive enough salaries.

Fred Smith, the outspoken
human rights campaigner-~who is
also a Grand Bahama Port
Authority licencee and busi-
nessman in Freeport, said the
sectors most affected by the
Government’s approach are
those that rely heavily on Hait-
ian labour, such as janitorial and

Freeport Concrete Company Limited
Consolidated Statement of Operations
Three months ended February 28, 2006

Outstanding shares = 4,708,334
(Expressed in Bahamian dollars)
3 months ended 3 months ended
February 28,2006 February 28, 2005
Sales 4,375,230 §,593,824
cost of sales 3,332,870 4,195,194.
Gross profit 4,042,368 4,398,530
Payroll casts 484,343 788,025
Other operating costs 285,998 208,439
Rent expense 109,153 143,027
Advertising expense 26,784 87,675
Ullities expense 70,197 64,980 -

Other income





income/(loss) before interest, taxes

LER TOG ATION and -amortigstion

Depn. and amort. expense

Nel financing Incorne/fexpense

Profit{Loss) before minority interest

Minority interest in gain



Net incomei(iass}



Esmings per share

Basic and diluted earnings/ (loss) per share $

Please note that the 6 months to February 28, 2005 figures include the Robin Hood division,

which was sold on August 31, 2008

Freeport Concrete Company Limited

Consolidated Balance Sheet



As at February 28, 2006
February 28, 2006 August 31,2005
Unaudited (Audited)

Cash 300,046 107,747
Time deposits 62,566 61,626
Accounts receivable, net 1,316,934 4,309,237
Due from former subsidiary shareholder 48,000 $77,500
Due from former subsidiary 224,250 578,800
inventories 1,856,615 1,861,349
inventories of spare parts and supplies 190,354 $2,143
Deposits and prepaid expenses 106,471 113,376
Total current assets 4,405,236 4,695,478
Fixed assets 3,223,434 2,997 002
Total assets 7,328,870 7,692,480 _

cnanmunaemnannanansnenneenncenneeeneeerernmernnremneeemeemeenseeesenteensteneneesasesnsecstecasecssiiaissitsstNittisibsstieAAeLteerneneCnntCtntCnCtCeCCCCeCeCentetteeent CCC Cee CCC CCC CCC CCC CCC CCA CC LCL

538 0,149).
648,908 7202,997
_ 02,482 195,633
(83,180) (64,463).
0,488 24,051)
(21.193) 110,083
0 —@,T28y
FOF 355

(@.005)

THE TRIBUNE









‘44 ‘

landscaping firms, the con‘
struction industry, maids, gar-
deners, and the agricultural
industry.

He urged that work permits
be used as a tool of national
development. He acknowledged
that while there was probably
10-15 per cent unemployment
among the Bahamian workforce

_ on Grand Bahama, “des Ay

their best efforts”, Port Auth
ity licencees were ‘unable to find
Bahamian workers for jobs they
considered “menial, low paying
and demeaning”.

Mr Smith said Governmen-
t’s immigration policy seemed
to be “generally throwing ‘up
roadblocks to the ordinary con-
duct of business” in Freeport
and Grand Bahama, further
depressing an economy still
struggling to recover from the
2004 hurricane season. j

He added:'“As a result of
what people have told me, I am
aware of hundreds of permit
applications that have been
refused, hundreds more that
have been deferred, and many
more requested to leave the
country before the application is
processed. ;

“It’s becoming a quagmire for
business in Freeport. It smacks
of economic irresponsibility for
the Government to be imple-
menting a policy that makes fio
sense in a depressed economy.”

Mr Smith said the Public
Treasury probably earned $10-
$15 million per annum ed
work permit fees on Gran
Bahama alone, ier ene ship
as “no small sum” ts





0.023



LIABILITIES
Bank overdraft 759,243 320,532
Accounts payable and accrued

expenses 2,101,895 2,791,916
Warranty Provision 15,809 45,809
Current portion of jong tenn debt 77 042 177,788
Total current liabilities 2,953,989 3,306,045
Long term liability 635,664 $18,223
SHAREHOLDERS’ EQUITY
Share Capital 47,083 47,083
Contributed surplus 5,774,868 5,774,868
Appraisal excess 1,433,867 1,433,867
Retained eamings © BO) (3,385,606)
Current eamings (131,195)
Total equity 3,738,017 3,870,212
Total liabilities and

shareholders’ equi 7,328,670_7,602,480

'



=)
THE |HIBUNE

FRIDAY, MAY 19, 2006, PAGE 5B

‘Seamless transition’ for
winning City Markets bid

_ FROM page 1B

lrg a rival bid, and that.both
the three Abaco Markets
shareholders and Neal &
Massy were involved.

The minority 22 per cent
stake that the public holds in
Bahamas Supermarkets, and
which is traded on the over-
the-counter, market, will
remain in public hands.

,The company will remain as
a standalone entity, and there
are.currently no plans to merge
it with Abaco Markets, The
Tribune has learned,

.BSL Holdings will take its
time to assess the business
before deciding what to do

with it and whether any ©

changes are necessary. It is
likely that there will be a tran-
sition services agreement, with
Winn-Dixie providing man-
agement services for one year.
¢. Under the transition services
agreement with BK Foods,
Winn-Dixie was due to get a
$4 million flat fee, plus the cost

of all goods provided with a 5
per cent mark-up on top of
that.

BK Foods, which submitted
the initial $50 million offer for
Bahamas Supermarkets, which
operates 12 stores under the
City Markets and Winn-Dixie
brands, decided not to increase
its offer to match the $54 mil-
lion offered by BSL Holdings.
This was because it believed
any higher offer would over-
value the company.

Jerome Fitzgerald, a BK
Foods director, told. The Tri-
bune: “We put in what we
thought was a fair price, and
obviously the other. group saw
more value in it. We wish them
the best.”

Among Mr Fitzgerald’s part-
ners in BK Foods were entre-
preneur Mark Finlayson and
ex-Burns House chief financial
officer Phillip Kemp. It had
been suggested by several
sources that BK Foods did not
have its financing in place for
Tuesday’s auction of Winn-
Dixie’s stake in New York, but
those close to the losing bid-

der denied this.

BK Foods will have its $5
million deposit returned to it,
in addition to a $1 million
break-up fee as part of the
original deal it struck with
Winn-Dixie.

Several sources have sug-
gested that the winning bidder
could be massively overpaying
for Bahamas Supermarkets,
valuing it at between $30-$35
million at most.

This is because the company
owns none of its 12 stores or
headquarters, leasing all the
properties, which means that

the buyer will gain an operat- .

ing business, fixtures and fur-
nishings, only.

However, the value of Winn-
Dixie’s stake is based on the
price Bahamas Supermarkets
shares trade at on the over-
the-counter market.

BK Foods' $50 million offer
for Bahamas Supermarkets
valued Winn-Dixie's 78 per
cent stake at $14.1 per share,
compared ‘to the $11 price at
which the stock last traded on

the Over-the-Counter market.

BAHAMAS DEVELOPMENT BANK

Cable Beach, West Bay Street, P.O. Box N-3034

New Providence

Lot#13 (5,000sq. ft) w/duplex
(1,344sq. ft) wh trim lime gi-
Bancroft Ln Bamboo Town
(Appraised Value $147,000.00)

Vacant lot #1038
(6,000sq .ft.) -
Garden Hills #3.

(Appraised Value $35,000.00)

Lot #109 w/hse
60x70' - Craven
St Ridgeland Park

(Appraised Value $80,000.00)
Lot #52.(4,000sa. ft.) w/hse
(845sq. ft.) - Water St-Big Pond
(Appraised Value $65,000.00)

Lot #171 (171'x100') w/two

Nassau, Bahamas

Tel: (242) 327-5780/327-5793-6
Fax: (242) 327-5047, 327-1258
www.bahamasdevelopmentbank.com

PROPERTIES LISTED FOR SALE

Grand Bahama

Lot #9 with house (3) Bedrooms,
(1) Bathroom and an Incomplete split ioral

extension west Pinedale Rd Pinedale,

EMR Freeport, Grand Bahama.

(Appraised Value $95,000.00)
Vacant Lot #8 Blk

#12 Unit #3

(11,250sq. ft.) -
Henry Ave Derby Subdivision

Freeport Grand Bahama

Abaco

Lot #54 (6,500 sq. ft.) with triplex foundation

in Murphy Town, Abaco.
(Appraised Value $29,916.00)

Eleuthera

story building- East St opposite

Deveaux St.

Appraised Value $300,000.00)

Lot #27A (55' x 90’)

15.Property 31'x111'

with house Lord Street in the settlement of

Taprum Bay Eleuthera.
(Appraised Value $45,000.00)

w/ |ncomplete split level hse-

Boatswain Hill or Bosun Hill
(Appraised Value $139,580.00)

Vacant lot 11,659 sq. ft.-

Vacant Lot#144 (12,320sa. ft) -

Thompson Street Danottage Estates

Subdivision.

(Appraised Value $86,000.00)

North Palmetto Point
_ (Appraised Value $9,000.00)

Cat Island
Property with twelve (12) room motel 1.39

acres- In the settlement of Arthur's Town,

Lot#39, BIk #35 (2,500sq ft).
w/wooden:Hse #64°- .
Lincoln Blvd, Englerstone Sub.
(Appraised Value $52,000.00)

Andros

Property (4,344 sq. ft.) with duplex
(1,174 sq. ft) in the settlement of
Fresh Creek, Central Andros.
(Appraised Value $73,258.00)

Lot #119 (22, 500sq. ft.) with a

‘single story complex (3,440'sq. ft.) - Sir
Henry Morgan Dr Andros Beach Colony
Subdivision Nicholl's Town Andros
(Appraised Value $147,700.00)

Vacant Property

100' x 150’ in the settlement of
Pinders, Mangrove Cay South Andros
(Appraised Value $22,500.00)

Cat Island
(Appraised Value $1.3 Million Dollars)

Exuma

_ Lot #134 (4,350 sq. ft.) with two story
building 4,160 sq. ft, apartment upstairs
and shop downstairs, George Town Exuma.
(Appraised Value gaa a 0

Vacant Lots

#7747R & 37747S

160'x125'-

Florence Dr., Bahama Sound

No.2 Exuma:

(Appraised Value $60,000.00)

Lot#43 (9,000 sq. ft.)

with house- Matthew Town

Inagua Russell Street.

(Appraised Value $120,000.00)

ASSETS

Electronic Equipment

(1) Compaq Presario Computer Monitor @ Tower

(1) Whirl Microwave
Tec Cash Register

Machinery

(1) Food Mixer’

(1) Wall Tv Stand

(1) Chrome Juice Filler
(1) Multi Fruit Juicer
(1) Chrome Mixer
(1) Deli Showcase

Vessels

29' Pheonix w/engines (Jannette 2)

29' (1983) Vessel (Lady Rece)

28' Carver Vessel/ Hull Only

48' North Carolina Hull (1989)

52' Halteras Fibre Glass (1979) MV Buddy

122' Single Screw Steel Hull (1960) MV Lisa III

Tables
(1) Wood Table (Round)
(1) Marble Table (Rectangle)

Cooler/Freezers

(1) Two Door Chest Freezer

(1) One Door Chest Freezer

(1) Blue Coleman Cooler

(2) Double Door Coolers

(1) Three Door Cooler

(1) Three Door Steel Freezer

Vehicles

(1) 03 Yumbo 125¢¢ Motorcycle
(1) 96 Ford Explorer

(1) 97 Dodge Stratus

(1) 99 GMC Truck

(1) 2001 Hyundai H-100 Bus

COOKING UTENSILS POTS, PANS & PLATES DRY CLEANING EQUIPMENT

Serious Inquires only. Sealed bids marked "Tender" should be submitted to Bahamas Development
Bank, P.O. Box N-3034, Nassau, Bahamas or telephone 327-5780 for. additional information.
Please note that all bids on the aforementioned properties and assets should be received by
May 26, 2006 the Bahamas Development Bank reserves the right to reject any or all offers. All

assets are sold as is.



Bank of The Bahamas

INTERNATIONAL

FINANCIAL PERFORMANCE FOR THE NINE-MONTH PERIOD ENDED MARCH 31, 2006
WITH YEAR OVER YEAR COMPARISON

Underpinned by continuing favourable economic conditions the Bank achieved broad based
record financial performance.

Total Assets stood at a record level of $524,394,059 representing growth of 31.95% over the
same period last year. This Asset growth was driven primarily by Loans and Advances to
Customers which climbed 41.59%, year over year, to $434,528,769.

The impressive Asset growth of the Bank has translated into record operating performance. The
nine-month results have already surpassed total performance for all of last year with Net Income
amounting to $7,804,941 representing a 36.15% increase over the same period last year. For
the quarter ended March 31, 2006, Net Income totaled $2,803,899, an increase of $1,354,849
(or 93.50%) over the same period last year.

The strong overall financial performance has resulted in improvements in Retum on Assets
(ROA) and Eamings Per Share (EPS) each of which settled at 2.26% and 50 cents respectively.
Retum on Equity (ROE) rested at 17.89% reflecting the impact of the Bank’s recent successful
$25 million Rights Offering.

The Bank acknowledges that such unprecedented growth brings with it new challenges, but
equally, fresh opportunities. Therefore, we have commenced actions towards the fulfillment of a
service quality objective aimed at delivering an unmatched customer lifecycle experience. To
support this initiative we have started the process of migrating to a new comprehensive core

software solution. This seamless exercise, complemented with our commitment to
acquire best-in-class expertise and skills and the Country's progress towards the horizontal
modernization of its financial infrastructure, will pave the way for the Bank’s tateiemat of) toa
financial enterprise.

We thank our loyal staff for their steadfast commitment to success and our directors for prudent
and sound guidance. Of parallel importance we are thankful of the support given by our
expanding customer and shareholder base and pledge to promote the goodwill of all
stakehojders.



BANK OF THE BAHAMAS LIMITED
CONSOLIDATED BALANCE SHEET
AS OF MARCH 31, 2006

sed In Bahamian dollars)

MARCH MARCH June

31, 2006 31,2005 30, 2005
ASSETS
Cash and due from banks $ 37,530,687 $ 34,176,873 $ 58,391,204
Investments, Loans and Advances to Customers, net 467,178,027 346,522,479 ‘ 377,961,676
Other Assets 19,685,345 16,724,633 16,792,294
TOTAL Eisen, SE seraaies, Fase
ABILITIES
Deposits from customers and banks 419,179,037 331,696,353 381,280,413
Bonds Payable ' Ht 000 17,000,000 17,000,000
Other Liabilities 15,032,025 5,694,210 10,547,828
Total Liabilities 451,211,062 354,390,563 408,828,241
SHAREHOLDERS’ EQUITY
Share Capital

Authorized - 25,000,000 preferred sheres of $8 1,000 each
-25,000,000 common sheres of $B1 each

Sateen pat = 15,600,000 common shares (2005:12,000,000) 15,600,000 12,000,000 12,000,000
Share Premium 28,587 866 7,589,064 7,589,064
Treasury Shares 9 (252,699) (264,850) aaa
General Reserve 1,400,000 1,400,000 400,000
Retained Eamings 27,847,830 22,309, os 592,139
Total Shareholders Equity "S_73,182,997_ 43,033,422 _$ 44,316,933
TOTAL Eseisoense 1S 397,423,985 $ 453,145,174

CONSOLIDATED STATEMENT OF INCOME
9 MONTHS ENDED MARCH 31, 2006

(Expressed in Bahamian dollars) :

2006 2005
NET INTEREST AND OTHER INCOME:
Interest Income $ 26,047,423 $ 19,834,179
Interest Expense 9,596,989 8,156,646
Net Interest Income 16,450,434 11,677,533
Less Net Provision for Loan Losses 1,821,719 468,829
Net Interest Income after Provision for Loan Losses 14,628,715 11,208,704
Non-interest Revenue 5,307,533 3,500,977
Income from Investments : 1,116,276 1,558,909
Net Revenue 21,052,524 16,268,590
NON-INTEREST EXPENSES 13,247,583 10,535,791
NET INCOME $ 7,804,941 $ 5,732,799
EARNINGS PER SHARE $ 0.50 $ 0.48
BANK OF THE BAHAMAS LIMITED

CONSOLIDATED STATEMENT OF INCOME
3 MONTHS ENDED MARCH 31, 2006

(Expressed in Bshamian dollars)

2008 2005
NET INTEREST AND OTHER INCOME:
Interest Income ' $ 9,563,970 $ 6,362,536
Interest Expense __- 3,318,375 2,759,533
Net Interest Income 6,245,595 | 3,603,
Less Net Provision for Loan Losses : 490,156 72,919
Net Interest Income after Provision for Loan Losses - 5,755,439 3,530,084
Non-Interest Revenue 1,116,035 1,183,230
Income from Investments 687, 687,975
Net Revenue 7,559,449 5,401,289
NON-INTEREST EXPENSES 4,755,550 3,952,239
NET INCOME $ 2,803,899 $ 1,449,050
EARNINGS PER SHARE $ 0.23 $ 0.12

CONSOLIDATED STATEMENT OF CASH FLOWS
9 MONTHS ENDING MARCH 31, 2006 :

(Expressed in Bahamian dollars) :

2006 2005
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 7,804,941 $ 5,732,799
Adjustments for non-cash items 01 1,336,498
10,818,203 7,069,297
Net change in operating asscts (47,930,022 (1,221,855)
Net cash (used in) provided by operating activities (37,111,819) 5,847,442
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of fixed assets (679,937) (2,607,488)
Purchase of investments (3,462,000) » (20,234,000)
Proceeds from maturity of investments ___100,000- 6,116,300 _-
Net cash used in investing activities (4,041,937) (16,725,188)
CASH FLOWS FROM FINANCING ACTIVITIES: i
Dividends paid (4,305,563) (2,032,435)
Rights Offering 24,598,802 A
Net cash provided by. (used in) financing activities 20,293,239 (2,032,435)
NET DECREASE IN CASH AND CASH EQUIVALENTS é
DURING THE PERIOD (20,860,517) e (12,910,181)
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD 58,391,204 47,087,054
END OF PERIOD $ 37,530,687 $34,176,873

=

BANK OF THE BAHAMAS LIMITED
NOTES TO CONSOLIDATED INTERIM CONDENSED FINANCIAL STATEMENTS
9 MONTHS ENDED MARCH 31, 2006

1. ACCOUNTING POLICIES

These consolidated interim condensed financial statements are prepared in
eerorennee with IAS 34 Interim Financial-Reporting. The accounting polices used in

preparation of these consolidated interim condensed financial statements are
ie Li with those used in the annual financial statements for the year ended June
30, 2005.

The consolidated interim condensed financial statements include the accounts of
Bank of the Bahamas Limited and its wholly owned subsidiary, Bank of the Bahamas
Trust Limited.

2. COMPARATIVES

Certain comparative figures have been restated to comply with the current year’s
presentation.



ARE Ae

Rh eS eee WE DE ee Cy

Adee de dees 44D 4S

PAGE 6B, FRIDAY, MAY 19, 2006

Deloitte.

Deloitte & Touche

Chartered Accountants

and Management Consultants
2nd Terrace, Centreville

P.O, Box N-7120

Nassau, Bahamas

Tel: + 1 (242) 302-4800
Fax: +1 (242) 322-3101
http://www.deloitte.com.bs

INDEPENDENT AUDITORS’ REPORT

To the Shareholders of
Metropolitan Bank (Bahamas) Limited:

We have audited the above balance sheet of Metropolitan Bank (Bahamas) Limited (the “Bank”) ag
of December 31, 2005. This balance sheet is the responsibility of the Company’s management. Out
responsibility is to express an opinion on this balance sheet based on our audit. i
We conducted our audit in accordance with International Standards on Auditing. Those Standards
require that we plan and perform the audit to obtain reasonable assurance about whether the balance
sheet is free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the balance sheet. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the
overall balance sheet presentation. We believe that our audit provides a reasonable basis for our
opinion.

In our opinion, the balance sheet present fairly, in all material respects, the financial position of the
Company as of December 31, 2005, in accordance with International Financial Reporting Standards.

Delile ¢ Toul

February 3, 2006

METROPOLITAN BANK (BAHAMAS) LIMITED
CONSOLIDATED STATEMENT OF INCOME

YEAR ENDED DECEMBER 31, 2005
(Expressed in United States dollars)



2005 2004
US$ US$
ASSETS"
Bank balances
Group companies (Note 10) - 1,417,929 435,791
Others 15,895,978 2,571,702
Loans and advances to customers (Note 3) - 1,280,183
Investments in securities (Note 4) 15,992,494 = 12,993,409 _
Investments in associated companies (Note 5) 13,143,645 12,482,471
Interest receivable and other assets 168,635 201,550
Fixed assets (Note 6) 9,338 5,145
TOTAL 46,628,0 19 29,970,25 1
LIABILITIES
Deposits from group companies (Note 13) - 2,048,021
Deposits of customers 25,170,323 8,314,621
Interest payable (Note 13) 95,687 31,778
Other payables and accrued liabilities 17,575 39,095
Total liabilities 25,283,585 _ 10,433,515
SHAREHOLDERS' EQUITY:
Share capital (Note 7) 5,000,000: 5,000,000
Retained earnings 16,479,562 14,527,461
Exchange translation reserve (135,128)~ _ 9,275
Total shareholders’ equity 21,344,434 19,536, 736"
TOTAL 46,628,019 _ 29,970,251

See notes to balance sheet

These balance sheet were approved by the Board of Directors on February 3, 2006 and is signed on
its behalf by:



1. GENERAL

Metropolitan Bank (Bahamas) Limited (the “Bank”) is a private limited company incorporated
in the Commonwealth of The Bahamas and is licensed under The Banks and Trust Companies
Regulation Act, 1965 (as amended) to carry on international banking business. The registered
office of the Bank is located in Keswaal House, 7 Moseley Lane, P.O. Box CR-56766, Suite’
700, Nassau, The Bahamas. Its ultimate holding company is Metropolitan Bank & Trust;
Company, incorporated in the Republic of the Philippines. f
i
The Bank’s books of account are maintained in US dollars, the currency in which the majority

of transactions and balances are denominated.

2. SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation - These financial statements have been prepared in accordance with e
International Financial,Reporting Standards (IFRS). The preparation of financial statements in '
conformity with IFRS requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at
the date of the financial statements and the reported amounts of revenues and expenses during
the reporting periods. Actual results could differ from those estimates.

The significant accounting policies are as follows:

a. Loans and Advances to Customers — Loans and advances to customers are stated in the
balance sheet after deducting provisions for bad and doubtful debts.

Provision for bad and doubtful debts is made, having regard to both specific and general
risks.

The specific element of the provision relates to those loans and advances that have been
individually reviewed and specially identified as bad or doubtful. Factors which are
considered include expected cash flows, financial condition of borrower and current

economic conditions. The general element of the provision relates to those losses that,
although not yet specifically identified, are known for experience to be present in the
Bank’s portfolio of loans and advances. In determining the level of provision required,
management considers numerous factors including, but not limited to, domestic and
international economic conditions, the composition of the loan portfolio and prior loan
loss experience.

Provisions are applied to write-off loans and advances when all security has been
realized and further recoveries are considered unlikely.

b. Fixed Assets - Fixed assets are stated at cost less accumulated depreciation.
Depreciation is charged on a straight-line basis using the following annual rates:

33%
33%

Furniture and fixtures
«Leasehold improvements

c. Investments in Securities - Investments in securities are recognized on a trade-date basis
and are initially measured at cost.

Debt securities that the Bank has the expressed intention and ability to hold to maturity
are measured at amortized cost, less any impairment loss recognized to. reflect
irrecoverable amounts. The annual amortization of any discount or premium on the
acquisition of a held-to-maturity security is aggregated with other investment income
receivable over the term of the instrument so that the revenue recognized in each period
represents a constant yield on the investment.

oy.

THE TRIBUNE, BUSIN

USER GA §
Investment in Associated Companies - An associated company is a company, other than
a subsidiary, in which the Bank is in a position to exercise significant influence, through
participation in the financial and operating policy decisions of the investee.

The results and assets and liabilities of associates are incorporated in these financial
statements using the equity method of accounting. The carrying amount of such
investments is reduced to recognize any impairment in the value of individual
investments.

Where the Bank transacts with an associated company, unrealized profits and losses are
eliminated to the extent of the Bank’s interest in the relevant associate, “except where
unrealized losses provide evidence of an impairment of the asset transferred." ras

Impairment - At each balance sheet date, the Bank reviews the’ carrying. ‘amounts of
long-term investments to determine whether there is any indication that, those, assets have
suffered an impairment loss. If any such indication exists, the recoyerable.amount of the
asset is estimated in order to determine the extent of the impairment loss (iftany):i':

If the recoverable amount of an asset is estimated to be less than its carrying amount, the
carrying amount of the asset is reduced to its recoverable amount. + POA losses are
recognized as an expense immediately. Moy dizog20

Where an impairment:-loss subsequently reverses, the carrying amount’ of the® ‘asset is
increased to the revised estimate of its recoverable amount, but so that the ‘increased
carrying amount does not exceed the carrying amount that would have'been detérmined
had no impairment loss-been recognized for the asset. A reversal of an impairment loss

~ is fecognized as income immediately.

Foreign currency translation - Transactions in currencies other than US dollars are
initially recorded at the rates of exchange prevailing on the dates of the transactions or at
the contracted settlement rate. Monetary assets and liabilities denominated in such
currencies are re-translated at the rates prevailing on the balance sheet date. Profits and
losses arising on exchange are dealt with in the statement of income.

The assets and liabilities of the Bank’s overseas operations are translated at the exchange
rates prevailing on the balance sheet date. “Income and expenses are translated at the
average exchange rates for the year. Exchange differences arising are classified as equity
and transferred to the Bank’s exchange translation reserve. Such translation differences
are recognized as income or as expense in the year in which the operation is disposed of.

The assets and liabilities of the Bank’s overseas operations are translated at the exchange
rates prevailing on the balance sheet date.

Derivative Financial Instruments - Derivative financial instruments are initially
recorded at cost and are measured at fair value at subsequent reporting dates with
changes in fair value of derivative instruments recognized in the statement of income as
they arise.

Cash and Cash Equivalents - Cash and cash equivalents comprise cash, due from banks
and highly liquid securities with maturity of 3 months or less.

3. LOANS AND ADVANCES TO CUSTOMERS

pee, aee,e

2004



2005
US$ US$
Loans and advances to customers - 1,293,114
Less: Allowances for probable loss : (12,931)
- 1,280,183
4. INVESTMENTS IN SECURITIES
Investments in securities are comprised of:
2005 - °° 2004
US$ US$
Unlisted debt securities issued by governments 500,000 3,500,000
Unlisted debt securities issued by banks aromrnioin as esogevbs bea ease |
and other financial institutions: «>¢9912,056,684.-.- .. 3,500,000
‘a3 © cUnlisted:debt securities issued by non financial institutions. _3,435,810,.... 5,993,409
Total securities 15,992,494 12,993,409
5. INVESTMENTS IN ASSOCIATED COMPANIES
2005 2004
US$ » io ~~ US$
Share of net assets as of January 1, 2005 12,482,471....-: 11,183,977
Exchange translation adjustment (144,403) (16,149)
Share of profit 1,555,192 1,314,643
Disposal of shares (749,615) * -
Share of net assets as of December 31, 2005 13,143,645" Ta 12,482,471



‘Name of Company

nas Metro. International.
| Investment Co., Ltd.

_ gaily Investment, Lid, bi

In February 2005, the Bank disposed a portion of the Bank's i inierest in associated companies.




AE Ti EP

-Percenta tage of
Ae z






| Place of, Classia

: Ingomporation ratio Shates Held






at jong Kong. satay



The disposal was made‘to a related party at book value. Accordingly, no gain or loss was
made on the disposal. After the disposal, the Bank’s interest in associated companies was
reduced from 28.86% to 26.74%. ,





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Furniture and fixtures 47 850.
Leasehold improvements 100 1,194
4 2 bae

2005 Net movement 5,145 4,193
2004 Net movement 53292 147

FIXED ASSETS
2005
US$ US$ US$ US$
Beginning Ending
Balance Additions Disposals Balance
COST:
Furniture and fixtures 3,583 4,364 - 7,947
Leasehold improvements 1,709 1,873 - 3,582
5,292 6:237) hs = 511529
2005 .
US$ US$ US$ USS
Beginning Depreciation Ending

ACCUMULATED DEPRECIATION:





SHARE CAPITAL

2005

. uss

Authorised: aN

10,000,000 ordinary shares of $1.00 each 19000.000
Issued and fully paid: ui

5,000,000 ordinary shares of $1.00 each 5,000,000




Balance _ for the year masa Belanee



THE TRIBUNE BUSINESS



ata
74
f | RSH aS 2
'
i] 8. MATURITY PROFILE
t BES
| sjoTibe maturity profile of the Bank's assets and liabilities as at December 31, FOS Ee OF ae Fey Petar Othe Sopayaneet Give
i] is as follows:
i 2005
’ | Repayable —_ Repayable
| Repayable after after
| within 3 months lyear —_ Repayable
vi Repayable 3months butwithin but within after
t} ondemand ___ or less | year 5 years 5 years Undated Total
a USS USS. USS USS USS USS USS.
‘ASSETS
Group companies 1,417,929 - - st - : 1,417,929
Others 45,978 — 15,850,000 - - - - 15,895,978
_,, Loans and advances to customers - - 2 - - i G
; Investments in securities - 11,068,802 - 3,384,523 1,539,169 - 15,992,494
eae in associated companies - - - - - 13,143,645 13,143,645
\ 74 [nterest receivable and other assets - 10,169 43,539 94,040 20,887 - 168,635
Fixed assets - : - : : 9,338 9,338
TOTAL ASSETS 1,463,907 26,928,971 43,539 _ 3,478,563 1,560,056 13,152,983 46,628.01 9
“LIABILITIES
; Deposits from group companies - - - - - : “
‘ Deposits of customers - 18,609,720 6,560,603 - - -» 25,170,323
j o} so,» Interest payable.. 73,458. 22,229 a i » 95,687
; aS Other payables and accrued liabilities 17,575 - - =. = a 17,575
; TOTAL LIABILITIES 17,575 18,683,178 6,582,832 - ii - 25,283,585
¢ >) NET EXPOSURE 1,446,332 8,245,793 - (6,539,293 3,478,563: 1,560,056 13,152,983 21,344,434
i
4
2004
i : Repayable Repayable
Repayable after after
within 3 months lyear —_ Repayable .
Repayable 3months butwithin but within after
on demand or less 1 year S years 5 years Undated Total
USS USS USS US$ US$ uss uss
ASSETS :
Bank balances j
Group companies 435,791 - - - - - 435,791
Others. y 21,702 2,550,000 - - - - 2,571,702
Loans and advances to customers - 1,280,183 - - - - 1,280,183
Investments in securities - 9,493,409 3,500,000 - - - 12,993,409
Investments in associated companies - - - - - 12,482,471 12,482,471
Interest receivable and other assets - 154,778 41,125 - - 5,647 201,550
Fixed assets : : : : : : 5,145 5,145
TOTAL ASSETS 457,493 13,478,370 _ 3,541,125 - - 12,493,263 29,970,251
LIABILITIES
Deposits from group companies - 2,048,021 - : - - 2,048,021
+ Deposits of customers - 8,314,621 - - - - 8,314,621
Interest payable - 31,778 - - - est 331,778
Other payables and accrued liabilities ___ 39,095 : : : : : 39,095
TOTAL LIABILITIES 39,095 10,394,420 - : - 10,433,5 15
NET EXPOSURE 418,398 ee 3,541,125 = 12,493,263 19,536,736
’ CURRENCY PROFILE

_ The currency profile (denominated in US dollars) of the Bank's assets and liabilities as at
December 31, 2005 is as follows:







2005
USD PHP HK$ Total
US$ USS USS USS
-ASSETS
; Bank balances
¥ Group companies 1,417,929 - - 1,417,929 ©
+ t Others - 15,895,978 : -. 15,895,978
£ Loans and advances to customers inadtvdl Beisest santer mo FF
+ Investments in securities 15,992,494 eer oe bre 15,992,494 §
+ Investments in associated companies net be = 13,143,645 13,143,645: ©
: Interest receivable and other assets 168,635 - - 168,635
+ Fixed assets 9,338 - - 9,338
1 TOTAL ASSETS 33,484,374 - 13,143,645 46,628,019
} ., LIABILITIES
+ Deposits of customers 25,170,323 - ~ 25,170,323
q “V8.2. Interest payable 95,687 ve 95,687
j { Me “"+ Other payables and accrued liabilities 17,575 - : 17,575
TOTAL LIABILITIES 25,283,585 - - 25,283,585
i a ee a aa tetey ss
{ ryh.cgh . -NET EXPOSURE 5789 = 13,143,645 21,344,434
§
;
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4

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ami,



10.

11.

CURRENCY PROFILE - CONTINUED

2004





USD PHP HK$ Total
___USS__ USS USS USS

ASSETS
Bank balances ty a
Group companies 435,791 - - 435,791 “
Others 2,571,702 - Senna OL LOL a
Loans and advances to customers 1,280,183 ‘ - 1,280,183 +!
Investments in securities . 12,993,409 - Mis 12,993,409 »
Investments in associated companies - - 12,482,471 12,482,471 ‘:

Interest receivable and other assets 201,550 - ; - A eine .

Fixed assets Of PES 1452 ea be Ce SB pS. é

TOTAL ASSETS 17,487,780 - 12,482,471 29,970,251 ;
LIABILITIES :
Deposits from group companies 2,048,021 - - 2,048,021 i;

Deposits of customers: 8,314,621 - het SS ee

Interest payable 31,778 - - se
Other payables and accrued liabilities 39,095 : . 095

TOTAL LIABILITIES 10,433,515 -. - 10,433,515

NET EXPOSURE 7,054,265 - 12,482,471 19,536,736
RELATED PARTY BALANCES AND TRANSACTIONS e
Balances and transactions with related parties are as follows at December 3 1, 2005: rm
2005 2004 vi
US$ uss
Ultimate holding company - |

Transactions :
Investments purchased during the year 68,971,299 237,590,208 o

Sale of investments during the year 65,972,214 _ 238,216,669 ’



Bank balances —15417;929 435,791
Deposits from group companies : - 2,048,021
Interest payable 95,687 31,778 ©:

Transactions with group companies are entered into on terms similar to those applicable to .*
transactions with unrelated parties. °

RISK MANAGEMENT "

In the normal course of business the Bank incurs different types of risks. T hese include
credit risk and price risk.

Credit risk - Credit risk arises from the failure of a counterparty to perform according to |
the terms of the contract. From this perspective, the Bank's significant exposure to credit °
risk is primarily concentrated in placements with banks, loans to customers and ‘
investments. The placements, loans to customers and investment transactions have been
placed with high quality counterparties and as such the Bank’s exposure to credit risk is
minimal. !

Price risk - Price risk is comprised of currency risk, interest rate risk and market risk. *
Currency risk emanates from the possibility that the value of a financial instrument will
fluctuate due to changes in foreign exchange rates, The Bank minimizes its risk by
monitoring levels of foreign currencies particularly those susceptible to foreign exchange
rates volatility. As of the balance sheet date the Bank's assets and liabilities denominated
in foreign. currencies are disclosed under Note 9. Interest, rate risk is the risk that the

-.. Value of a ,financial instrument may fluctuate signifi cantly.as a..tesult.of changes in

~<"“““market interest'rates. The Bank's exposure to this is mioderate as the fixed rate financial

12.

PUBLISH

Your Balance Sheets & Legal Notices



instruments are usually short term, whereas the financial instruments which are medium
term are at floating rates.

Market risk - Market risk is the risk that there will be a change in the value of a financial. ’
instrument due to changes in the market conditions. The Bank's exposure to this risk is’
minimal as the investments represent debt securities which are intended to be held to!-
maturity.

GEOGRAPHICAL SEGMENT INFORMATION

The Bank's assets and liabilities are predominantly concentrated in the United States of
America and Hong Kong. |

TV eVEeV ES HS eee ee

Rae Ra HS

~“S Pune

The Tribune

Call us at

502-2352

=



PAGE 8B, FRIDAY, MAY 19, 2006



igh as
fe
umes



JES

~

THE TRIBUNE





Wall Street extends its losses
one day after inflation scare

i By CHRISTOPHER
WANG
AP Business Writer

NEW YORK (AP) — Wall
Sireet extended its losses yes-
cerday, a day after an inflation
scare sent the Dow Jones
industrial average on its biggest

range through most of the ses-
sion but took a sharp turn low-
er in the last hour of trading, a
reflection of how nervous the
market remained after the
Dow’s 214-point dive Wednes-
day.

Economic

including an unexpected drop
in the Conference Board’s
index of leading indicators and
an upswing in jobless claims.
The catalyst for the previous
day’s frenzied selling was a
stronger-than-forecast jump in
consumer prices that ignited
concerns that the Federal

an equity trader at Voyageur
Asset Management. “People
are taking money off the table
and no bets are being made
because no one knows what to
do right now.”

A fresh rise in oil prices
added to Wall Street’s infla-
tion troubles and overshad-

yen.

According to preliminary
calculations, the Dow dropped
77.32, or 0.69 per cent, to
11,128.29. On Wednesday, the
Dow had its worst session since
sinking 307 points on March

24, 2003. 1
Broader stock indicators.also
declined. The Standards&

Poor’s 500 index lost 8.51,y,or |

0.67 per,cent, to 1,261.81, ahd
the Nasdaq sank 15.48, or 0:7
per cent, to 2,180.32. "4

one-day drop in three years

and put the Nasdaq compos-
- index in the red for 2006.
Stocks drifted in a narrow

_ NOTICE

‘| NOTICE is hereby given that ROSARIO AMELIA OJEDA
URIBE THOMPSON OF NASSAU, BAHAMAS, is applying

_ to the Minister responsible for Nationality and Citizenship,

, for registration/naturalization as a citizen of The Bahamas,
,, and that any person who knows any reason why registration/
‘| naturalization should not be granted, should send a written
‘| and signed statement of the facts within twenty-eight days
1, from the 19TH day of MAY, 2006 to the Minister responsible
|. for Nationality and Citizenship, PO.Box N- 7147, Nassau,

NOTICE

‘| | NOTICE is hereby given that LINDA MITCHELL OF 157 NE
| 68 TERR, MIAMI, FLORIDA, 33138 is applying to the Minister
responsible for Nationality and Citizenship, for
| registration/naturalization’as a citizen of The Bahamas, and
| that any person who knows any reason why registration/

‘| naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
' from the 19TH day of MAY, 2006 to the Minister responsible

‘} for Nationality and Citizenship, P.O.Box N- 7147, Nassau,

” NOTICE

-) NOTICE is hereby given that EROLD LA’ CROIX OF ETHEL
| STREET, NASSAU, BAHAMAS, is applying to the Minister
'responsible for Nationality and Citizenship, for
; registration/naturalization as a citizen of The Bahamas, and
| that any person who knows any reason why registration/
, naturalization should not be granted, should send a written
' and signed statement of the facts within twenty-eight days
' trom the 19TH day of MAY, 2006 to the Minister responsible

for Nallonaly and Citizenship, P.O.Box N- 7147, Nassau,

NOTICE

i NOTICE is hereby given that JULIE LOUIMEME, MARSH
, HARBOUR, ABACO, BAHAMAS, is applying to the Minister

Even economic news that
showed a moderating econo-
my had little impact on trading,














j











‘
'
bit
'
in]
i














» responsible for Nationality and Citizenship, for]

» yegistration/naturalization as a citizen of The Bahamas, and
, that any person who knows any reason why registration/
. Naturalization shouid not be granted, should send a written
and signed statement of the facts within twenty-eight days
‘ from the 12TH day of JANUARY, 2006 to the Minister
«esponsible for Nationality and Citizenship, P.O.Box N- 7147,
ference, Bahamas.




‘Temple Christian Elementary School invites
‘applications from qualified teachers for the
2006-2007 school year for:
. Spanish Teacher (Grades 1-6)
art Teacher (Grades 1-6)

MApplicant must:

‘A. Bea born-again practicing Christian

who is willing to subscribe to the .
Statement of Faith Temple
Christian Schools.

Have an Associates and ‘or Bachelor’s
Degree in Education from a recognized
College or University in the area

of specialization.

Have a valid Teacher’s Certificate
or Diploma.

Be willing to contribute to the school’s extra
curricular program.

Application must be made in writing with a full
Curriculum Vitae, a recent coloured photograph
and three references should be sent to:

The Principal
Temple Christian Schools
Collins Avenue
P.O. Box N-1566
Nassau, Bahamas



owed a recovery in the bond
market and a stabilizing Unit-
ed States dollar after its recent
tumble against the Japanese

Reserve might keep boosting

interest rates.
“This market is just scared

tight now,” said Ryan Larson,

NOTICE

NOTICE is hereby given that GILBERT CHERIME OF EAST
STREET, P.O. Box SS-19950, NASSAU, BAHAMAS, is
applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as.a citizen of The
Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should
send a written and signed statement of the facts within
twenty-eight days from the 19TH day of MAY, 2006 to the
Minister responsible for Nationality and Citizenship, PO.Box
N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that SUSANNE ROLE-TIEDEMANN OF
TEMPLETON BUILDING, LYFORD CAY, P.O. BOX N-7776-348,
NASSAU, BAHAMAS, is applying to the Minister responsible for
Nationality < and Citizenship, for registration/naturalization as a
citizen of The Bahamas, and that any person who knows any
reason why registration/ naturalization should not be granted,
should send a written and signed statement of the facts within

-| twenty-eight days from the 12TH day of MAY, 2006 to the Minister
responsible for Nationality and Citizenship, PRO.Box N- 7147,
Nassau, Bahamas.





LEGAL NOTICE





NOTICE









TOPSHAM LIMITED

Notice is hereby given that in accordance with Section 137(8)
of the international Business Companies Act 2000,the
dissolution of TOPSHAM LIMITED, has been completed;
a Certificate of Dissolution has been issued and the Company
has therefore been struck off the Register



~~ ARGOSA CORP. INC.
Liquidator





NOTICE



Secretary / Typist




.Professional Office has an immediate Opening for
Secretary/Typist. The ideal candidate must have
an minimum of Three (3) Years Office experience
with excellent communications and Computer
Skills. The applicant must possess exceptional
telephone etiquette, good attitude and be
capable of working independently and/or as a
team member; should have a minimum
typewriting skills of 50 wpm; and must be
proficent in the Windows XP or 2000
enviroment; particularly w/ software such as
Microsoft Word, Excel and Quickbooks.













Bahamians and/ or Bahamian Residents are invited to apply




Please Fax Resume to 394-4458
email: wwb@coralwave.com



LEGAL NOTICE

International Business Companies Act
(No. 45 of 2000)

LYNTHORPE HOLDINGS LIMITED
(In Voluntary Liquidation)

Notice is hereby given that in accordance with Section 137
(4) of the International Business Companies Act (No. 45 of
-2000), LYNTHORPE HOLDINGS LIMITED, has been
dissolved and struck off of the Register according to the
Certificate of Dissolution issued by the Registrar

General on the 25th day of April, 2006.

Hamilton Management Services Limited,
Fiman House, La Houque du Valle,
Vale, Guernsey, GY3 5TE.

Liquidator

Yours sincerely, —
MOSSACK FONSECA & CO. (BAHAMAS) LIMITED

Lauren Ramsay,
Corporate Administrator



NOTICE

NOTICE is hereby given that THERESA GRAY OF TAYLOR
STREET, P.O. Box N-3841, NASSAU, BAHAMAS, is applying
to the Minister responsible for Nationality and Citizenship,

for registration/naturalization as a citizen of The Bahamas,
and that any person who knows any reason why registration/
naturalization should not be granted, should send a written’
and signed statement of the facts within twenty-eight days
from the 19TH day of MAY, 2006 to the Minister responsible
for mavenaly and Citizenship, P.O.Box N- 7147, Nassau;

NOTICE

NOTICE is hereby given that MONIQUE LA’ CROIX OF,
ETHEL STREET, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, arid
that any person who knows any reason why registratiop/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 19TH day of MAY, 2006 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
ahamas.












POSTION AVAILABLE
SECURITIES SPECIALIST

Leading Offshore Bank request applications for the _
position of an experienced securities specialist.

The candidates must possess the following: AM
qualifications and skills:

Two years related mutual fund experience,
including cash settlements

Strong emphasis in:tradde processin and!) 4 |
settlements

Strong PC, organization skills

Strong communication skills
Qualified applicants should fax or email resumes-to:

Branch Manager Banking
P.O. Box N-4906 — .
Nassau, Bahamas

Fax: 394-0701.

COMMONWEALTH OF THE BAHAMAS. 2005/CLE/gen/01227
IN THE SUPREME COURT
BETWEEN

MARY I MICHELLE MAJOR
JUDY ATHENE KEMP-HIGGS
> Plaintiffs
AND.

-KAIVON ELDON

_ Defendant

NOTICE

Kaivon Eldon
Nassau, Bahamas

TAKE NOTICE that.action has been commenced
against you in the Supreme Court of the
Commonwealth of The Bahamas Action No.
2005/CLE/gen/01227 by Mary Michelle Major
and Judy Athene Kemp-Higgs in which the
Plaintiffs’ claim is for an Order that you remove
a building which encroaches on the Plaintiffs’
property, damages for trespass and costs.

AND that it has been ordered that service of the
Writ in the said action be eliggted by this
advertisement.

AND FURTHER TAKE NOTICE that you must
enter an Appearance in this action on or before
the 2nd June 2006 otherwise judgment may be
entered against you.

ALEXIOU, KNOWLES & CO.
Attorneys for the Plaintiffs
Chambers
Frederick Street Steps
Nassau, Bahamas





THE TRIBUNE BUSINESS

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MAY 19, 2006

10:00



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, MAY 19, 2006, PAGE 9B











Let Charlie the
Bahamian Puppet and ey
his sidekick Derek jut r

Some smiles On your




kids’s faces

MctHappy Hour at McDonald's in
Oakes Field every Thursday
from 3:30pm to 4:30pm during the
month of May 9006.

|
|
|
| Bring your children to the
|

Enjoy Great Food, Prizes and Lots of Fun.





im lovin’ it




make great giftsle





PAGE 10B, FRIDAY, MAY 19, 2006

TRIBUNE SPORTS







@ TRACK AND FIELD
By KELSIE JOHNSON
Junior Sports Reporter

WEDNESDAY'S down-
pour might have dampened
the spirits of several of the
athletes participating in the
25th annual Primary School
Track and Field Champi-
onships, but yesterday's fine
weather saw the Queen's Col-
lege Comets come shooting
through.

The Comets led the open-
ing session medal haul with
four medals — a gold and
three bronze. They wetre fol-
lowed closely by the team
from Hugh Campbell Prima-
ry with three medals and
Abaco, capturing two gold
medals. ;

Three of the four medals

B YOUNG athletes come out of the blocks strong in the 100m girls A heats.

captured by the Comets were
claimed by Karin Carbin and
Shaque Lockhart in the C
girls 100m, and Shelby Carbin
in the B girls 100m.

Karin's time in the 100m
was recorded at 14.15 sec-
onds, she was followed close-
ly by Sterra Johnson of North
Andros in 14.49 seconds leav-

ing Lockhart and Shante Rus- |
_ sell to settle for the bronze

medals in a time of 14.72 sec-
onds.

In the B girls 100m, Shelby
clocked 13.81 seconds for the
third spot leaving the top two
spots for Carmenisha Cox of
St Thomas More and Kendaci
Hart of Gerald Cash Primary.

Cox's time in the event was
13.70 seconds while Hart
recorded 13.76 seconds.

The performance by the

the relays,

Comets left head coach Sue
Coleby looking forward to
the events set for today and
which were
set to climax the opening
day.

According to Coleby, the
work being put in by the ath-
letes deserves a special com-
mendation especially since
the claiming of their medals
will go down in the history
books of both the association
and the schools.

Coleby said: "This is the
first time in the history of our
participation we were able to
win medals. I believe the kids
deserve a special commenda-
tion for their performances.

"We are doing very well, I
don't think the performances
today can be rated that's how
well they are doing. And to

Queen’s College Comets
shoot ahead of the pack

think we are just getting start-
ed.

"We've got the relays com-
ing up later on today so Jam

really looking forward to see--

ing them compete in those.
We got some help from the
coach from the high school
level and the kids were able
to catch on to what he was
showing them so quickly, so

==we will definitely be a threat

in that.

"You can't forget about the
400m, the athletes who are
competing in this event, they
are ready to go. And tomor-
row (Friday) we've got the
200m."

The two gold medals for
the team from Abaco were
won by Rashad Rolle and
Terry Russell in the boy's
100m and high jump events.

Both Russell and Kyle Wil-
son of Gerald Cash cleared
4-feet-4-inches, but Russell
got the win due to knock-
downs. The third place posi-
tion belonged to South
Andros' Lamaron Sweeting, a
performance of 3-feet-10
inches.

Rolle clocked 12.27 seconds
to get the win over Shaquille

-Ferguson of Cleveland Eneas

who finished up in a time of
12.61 seconds and Ryan Blair
of Hugh Campbell Primary
in 12.64 seconds.

In the B boy's 100m D'An-
gelo Sands of Zion School
was first in a time of 13.18
seconds, Calvin Anderson of
Hugh Campbell was second
in 13.24 seconds and Shak-
won Lewis of Paimdale Pri-
mary third in 13.28 seconds.

Bahamian boxers meet their opponents

FROM page one

Bahamas and acknowledged his
prowess as a fighter, but at the same
time, he assured the Bahamian peo-
ple that he doesn’t intend to let them
down on home soil.

"The Mexicans have been good
fighters over the years, so I know
I'm going up against a very good
opponent," he charged. "But I'm
real focused and I'm in tip top
shape and I'm prepared to put ona
show."

Having stopped a Puerto Rican
in his last fight, which served as a
tune-up for this one, the Bahami-
an lightweight champion was basi-
cally the same height and weight of
his opponent - something that he
was hoping for.

"This is an international fight, this
is a title fight, so I'm looking for-
ward to having a real good fight,"
he insisted. "But when it's all said
and done, I hope to come out of the
ring with the belt around my waist."

Another Mexican, Julio Gonza-
lez will be taking on Jermaine 'Chu
Chu' Mackey in the co-main event.
They are scheduled to fight eight
rounds. But neither fighter feels it
will go the distance.

Like Couch, Gonzalez said he's
been impressed with the hospitality
of the Bahamian people, but he
knows that it will be a different sto-
ry in the ring.

"I came here ready to fight and I
intend to do what it takes to win,"
said Gonzsalez, who at age 28, is
10-3. "I know he's at home fighting
before the home crowd, but he will
have to come out and fight because
I'm here to fight."

The 26-year-old Mackey, who
doubled up as the disc jockey dur-
ing the gathering, is coming off a
successful six round decision in Key
West, Florida on May 6. With only
two weeks rest in between, Mackey
said he's ready to go again.

"He looks like he's a very good
fighter, but I will just go in there



a JULIO GONZALEZ will be taking on Jermaine 'Chu Chu' Mackey
(Photo: Mario Duncanson/Tribune staff)

and take my time," said Mackey,
who intends to improve on his 9-0
record. "I'm just going to go in
there and fight my fight and hope-
fully win every round."

Jamaican Ricardo 'Hard Heel’
Planter is back in the Bahamas for
another fight on the undercard.

He was present waiting for Elke-
na 'Ali' Saunders to arrive. Having
been here before, Planter knows
quite well that it won't be easy and

so he said he's just going to wait
and see what happen when they get
into the ring for their six rounder.

And in one of the two four
rounders, Sean 'Doodle Bug' Laing
will take on Keito 'Red Lion' Fer-
guson. Both fighters are eager to
get a shot at each other, but none
wanted to boast or brag about their
abilities.

"T only had about two weeks to
prepare, but I know with the time

that I put in, I'm confident that I
will do my best," he stated. "I have
a lot of respect for Doodle Bug, but
I don't want him to take me for
granted."

Laing, however, said he expects
that the fight will be a quick one.

"IT don't know much about him,
but he doesn’t know me, so we will
see what happens," he summed
up.

The show gets underway at 8pm.

Softball set
for ‘Battle:

of the
Leagues’

m@ SOFTBALL
By RENALDO
DORSETT
Sports Reporter —

THE country’s ama-
teur softball leagues
will come together ina
landmark tournament
to determine which
league and individual
teams truly deserve to
be called the best.

Over a dozen teams.
from various leagues ~
will vie for bragging
rights in the First
Annual “Battle of the
Leagues” Softball ~°
Tournament.

Hosted by the New; é
Providence Modified: - ”
Pitch Softball League, ;
the tournament is
scheduled for May
27th and 28th at the
Blue Hills Sporting
Complex.

Dedicated

The tournament will.’
be dedicated to the...
memory of Gregory :1
Mitchell Maurice, for-
mer starting center
fielder for the Royal
Bank of Canada
Lions.

Maurice died tragi- << ;
cally on May 12th in: ae
motorcycle accident,
he was 35. :

In addition to the
Banker’s League, the
versatile softball play-
er also played in the
Old Timers and Modi-
fied Pitch Leagues.

Alfred Forbes, Com-
missioner of the Modi-
fied Pitch Softball
League, said the tour-
namient has the poten-
tial to become one of
the most anticipated
events on the softball
calendar because it
encompasses a large
number of leagues.

“This tournament
will feature teams |
from all of the active.
leagues in New Provi-
dence, mainly the
Government, Modi-
fied Pitch, Banker’s,
Old Timers, Slow
Pitch and Fast Pitch
Leagues,” he said.

Invite

“We are seeking to
invite 16 teams, ideal-
ly we would like to

35 >



- have two teams from

each league, with ‘an
additional four teams
from our league to
represent ourselves as
the hosts of this tour-
nament.”

Forbes said inspira-
tion from the tourna-
ment stemmed from
the competitive nature
of the athletes them-
selves.

“Tt was dream I Had:
from the first time I -
went and saw the s
camaraderie and the * =
excitement throughout
the leagues when the
teams played,” he
said, “I thought it
would be a good idea:
to bring the leagues
together and allow
them to compete
against each other fo
bragging rights.”

The format of the
tournament is double
elimination with
games. shortened to.”
five innings or one,5*
hour.

About 29 games wi
be played over the +
course of two day »
tournament. °

Tournament winnefs
will receive the float-
ing trophy and $500
cash prize.

Second Place will
receive a $200 prize
and the tournament’s
Most Valuable Player
will receive $50.

The tournament is
sponsored by V8 '
Splash, the D’Albénas
Agency, G/H Enter- |
prises and many oth-'
ers.

ct.

wweves

en ealen

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Low: 64° F/18°C ss ‘ ‘ i i High: 88° i High: 86° High: g4° High: g2° i Bangkok _ } 91/32 79/26 t 90/32 79/26 t
@ Cae High: 88° i Low: 72° i Low: 74° | Low: 74° i Low: 72° Low: 72° i Barbados : 90/32 79/26 pc 86/30 17/25 pc
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§ = in 61/16 50/10 r 69/20 43/6 t
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= 2:33pm. 26 8:45p.m. 0.2 — Bogota ; 64/17 50/10 pc 63/17 50/10 c
Statistics are for Nassau through 2 p.m. yesterday Sunday 3:04am. 26 Si5am. OT — Brussels 63/17. 50/10 c~ 59/15 43/6 t
ABACO Temperature a : 3:36 p.m. 2.7 9:54p.m. 0.2 Budapest ; ee oa c ae oe pe
2 % /oc HQ esate eearescssvisseseoey aetesceeree 85° F/29° ———"anRam de Ani0am on) Buenos Aires =e =: : pe s
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Normal high . ... 84° F/29° C ET Re oe aan a Fees nS eA 97/36 81/27 pc 101/38 83/28 pc
Normal low cosets Peat ela G Calgary 74/23 43/6 pe 64/17 49/9 pc
@ WEST PALMBEACH oe year's high iw a2 ey Cancun 88/31 72/22 pc 90/32 71/21 pc
High: 85° F/29°C = SESVOAIES| | OWiserestsrcecerresestterseresrercest™ ° F/23° : Caracas : 84/28 66/18 pc 84/28 64/17 pc
(ior b5°F/19°C 3 : 7 % Precipitation Sunrise...... 6:24 a.m. Moonrise..... 1:10am. _ Gasablanca _ 81/27. 59/15 s 77/25 65/18 s
- = ill. As Of 2 p.m. yesterday csscsseeseeseeneen 1.70” ‘Sunset... 7-49 p.m. Moonset....12:16p.m. Copenhagen : S7/13 48/8 + 59/15 50/10 sh :
FT. LAUDERDALE - FREEPORT Year tO date csc .. 5,83” New First Full Dublin 5713 48/8 c 6512 43/6 ©. :
High:85°F/29°C = . High: 86°F/30°C Normal year to date ......sssssesesseccserssseeeesee 10.07” fia cai ie aa Frankfurt 63/17 48/8. pc 60/15 47/8 t 2
Low:69°F/21°C ~~ aie Low: 71° F/22°C Geneva. = 66/18 54/12 pe 59/15 521 t .
AccuWeather.com Halifax 55/12 41/5 c 5412-404 H
S All forecasts and maps provided by mis S oe Havana 84/28 6317s 85/29 72/22 pc Showers :
LAM AccuWeather, Inc. ©2006 27 Jun. 3 Jun. 11 Helsinki $4/12 45/7 © 56/13 42/5 ¢ 4 =» j T-storms 2
cece c | Seen = Hong Kong 86/30 75/23 s 84/28. 75/23 s Rain é
4 : NASSAU High: Islamabad _ 99/87 79/26 s 110/43 79/26 s [x *] Flurries See eat i .
=r High: 88° F/31°C _Low.78°F/23°C : istanbul = 78 EGAZ Ss = BORE. G7 pe Snow _precpiaton. Temperature bands are highs forthe day. ‘
Low:72° F/22°C Jerusalem 79/23 61/16 s 67/19 51/10 s [¥_¥! Ice Forecast high/low temperatures are for selected cities. a
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~ iis CAT ISLAND OO a
ak ~ a ae High: 85° F/29°C __. London 6116 5211c 58/14 50/10 +
: Low: 69° F/21°C : ‘Madrid oo B227. S0A0 so 81/27. S42 s:
vs Manila 93/33 79/26 c sss 91/32 79/26 pc
Mexico City: = 75/723 500 t 75/23. S00 t
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Re, High: 86° F/30° C Hi ee Moscow 63/17 50/10 F
Low: 75°F/24°C ; ee Muri 68/20 4778 t
; ANDROS : ___Low:72°F/22°C 78/25 57/13 ¢
Shown is today's weather. Temperatures are today's < : sis sel le
highs and tonights's lows High: 88° F/31°C ‘ = 105/40 81/27 's
Low: 75° F/24°C 65/18 46/7 sh





























BOAT 48/28 t
A468 ¢ 85/18. 48/8. pc
LONG ISLAND 3 6518s «78/25 68/20 pc
High: 85° F/29°C 37,7928. s___ 100/97. 81/27 s
= : Low: 74° F/23°C
MAYAGUANA 78/25. pe . : :
Today Saturday Today Saturday Today Saturday * 36/2 : choi ce is
High Low W High Low W High Low W High Low Ww High Low W High Low W High: 86° ee C 72/22 = : : .
FC F/C FC F/C he OE. be 7 oan ae Low. 75°F/24°6 ae 6° : agement
Albuquerque 89/31 61/16 pc 90/32 59/15 pc Indianapolis ~~“ 67/19 «48/8 | fv ; se :
Anchorage 60/15 44/6 pc 56/13 42/5 sh Jacksonville 90/32 66/18 CROOKEDISLAND/ /ACKLINS pore f an trust.
Atlanta 81/27 6216 pc 83/28 65/18 s_ sai 85/29 6216 RAGGED ISLAND os Tee B5/i2. pc
SEE RM CET oe TCL 98/36 76/24 High: 84° F/29° C Ww: wena
= iif é ; 4 yas _ ; eR :
Baltimore ~~ 68/20 722 = A819 pe S1/82 66/18” Low: 70° F/21°C 55/12. pe , , ,
Boston == 63/17 S21 or 0 4 é 75/23 s ’
Buffalo S812 AAS ¢ 8814 42/5" sh — GREAT INAGUA 63/17 sh . A ; N@a =
Charleston, SC 84/28 64/17 s 88/31 67/49 pc 85/29 68/20 High:87° F/31°C AMS po S fet ON ew WW
Chicago BB 46/7 pe 168/20" 48/8 pe 85/29 70/21 s Low: 75° F/24°C : 59/15 ¢ ! Be nthe AGENTS
Cleveland 55/12 45/7 sh. 60/15 46/7 pc 71/21 54/12 po pe = San See : : 2 18 : - 50A0 c ee : 2 :
Dallas ~~ / »-94/34 69/20 s' 92/33 69/20 pe 216/24: SONS t= pe Seattle = — Ais ~ 60/ ‘ _ > Nien < 64/17 18/8. Cc 67/19 49/9 pc : Fleuthera Exuma
, _ Denver 87/30 56/13 s. 84/28 50/10 pc NewOrleans 90/32 67/19 ls Tallahassee 90/32 62/16 s "95/35 B47 s_ — : cau ~ War So B8AT 48/8 co. 64/17 48/8 pe ea . Fe
- .Betroit => 6015 44/6 pc 679 48/8 po’ | NewYork «= 70/21 52/11 “pe Tampa SBI TOMI RSy RA RO = 5.5 Winnipeg. = 69/20 41/Rs- .. BIN 38/3. pe | i eee ——
Honolulu 85/29 71/21 pc 85/29 72/22 s OklahomaCity 92/33 64/17 pc Tucson 98/36 68/20 s 98/36 68/20 s i Weather (W): 8-sunny, po- spat raiiyter Cativien-shiwe cel tilinion
Houston 91/32 68/20 s 91/32 68/20 pc Orlando 90/32 66/18 Ss Washington, DC 68/20 48/8 t 72/22 55/12. pe storms, r-rain, sf-snow flurries, sn-snow, i-ice, Prep-precipitation, Tr-trace





» FRIDAY, MAY 19, 2006

SECTION



Fax: (242) 328-2398
E-Mail: sports@100jamz.com



Lp Pripsinegrmte ar ase

}



@ MEACHER 'Major Pain' Major and Luis 'Lichi' Couch meet up yesterday.
(Photo: Mario Duncanson/Tribune staff)

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BOXING
By BRENT STUBBS
Senior Sports Reporter

MEACHER ‘Major Pain'
Major and Luis ‘Lichi' Couch
came together face to face for
the first time yesterday as they
prepare to challenge each oth-
er for the World Boxing Asso-

ciation's vacant FEDECaribe

lightweight title.

The two squared off on the
stage at the First Class Pro-
motions' office as they wait-
ed for the official weigh-in cer-
emony and medical check up
as a part of the final proce-



Major and
Couch face off

dures before tonight's clash of
the titans at the Wyndham
Nassau Resort Ballroom.

With their fists clinched as
they posed for the photogra-
phers, both fighters just stared
at each and admitted after-
wards that it won't easy when
they step into the ring for the
12-round main event bout.

Delighted to here in the
Bahamas as he spoke through
an interpreter, Couch said he
likes what he saw in Major,
whose credentials are a little
bit better when stacked up
against his.

"He seems to be a very



hag

i

strong competitor, just like :
me," said Couch, 23, who has ;
a 6-5 win-loss record in four-’
years of fighting on the pro-
fessional scene. "If we have :
to go 12.rounds, I will be pre-
pared to go 12 rounds."

This is Couch's second shot'
at an international title. In his :
first one in December, he lost :
a split decision. This ‘time, :
however, he has vowed to:
return to Mexico as the new |

champion. ;

However, the 24-year-old
Major welcomed Couch to the :

SEE page 10B

@ ACTION from the 100m
girls A heats during yester-
day’s 25th annual Primary
School Track and Field
Championships.

The event finally got under-

| way after being delayed on



COOKIES FOR CANCER

For every McDonald’s Cookie you purchase during
_the month of May 2006, McDonald’s willmakea
donation to the Cancer Society of the Bahamas gy

Wednesday due to poor
weather.

¢ PAGE 10B

(Photo: Mario Duncanson/

Tribune staff) .






Full Text



FRIDAY, MAY 19, 2006, PA(;-.:


THE TRIBUNE


LOCALSNEB II


ngraham

FROM page one
"The residents expressed concerns
about the purported disposal of all the
Crown land and land owned by govern-
ment, which amounts to some 126 acres,"
Mr Ingraham pointed out. "They are of
the view that the government gave away
all of that land and that they have no
more public land on the island.
"If that were so then they would be
justified in their concern," he added.
"There is some evidence to suggest that
the government may not have given
away all of the land.
"We have also gotten the impression
from the developers regarding the
amount of Treasury land they got, that it
may be that they could review that and
possibly settle for a lesser acreage than
they have gotten."
Regarding land granted to the devel-
opers to be held as a preserve, Mr Ingra-
ham suggested to the developers that
they engage more fully the Bahamas
National Trust in planning and consid-
erations on how 'the land can be best
preserved and protected.
Highlighting several of the residents'
other concerns, Mr Ingraham pointed
out that the developers have agreed to
make their EMP and EIA available to
Michelle Bethel, an Abaco environ-
mentalist who accompanied him and his
colleagues on Thursday's tour of the pro-
posed development.
He said Guana Cay residents
expressed concerns about how the devel-
opers would handle land currently leased
to them (Joe's Creek), which is a tradi-
tional area for crabbing.
The residents also expressed concern
about a potential disruption of shore-
line nesting areas for turtles and about
potential environmental runoff from the
project's proposed golf course.
"They believe therewill likely be reef
damage by golf course runoff," Mr Ingra-
ham noted. "The developers seem to
have gone a long way to minimise that
from happening and if appropriate inde-
pendent monitoring could be established
they could go a long way toward allaying
the residents' concerns."
The FNM leader also pointed out that
from all indications, the project's marina
is going to be an environmentally friend-
ly facility.
Mr Ingraham acknowledged that
there are some residents who are
opposed to the development and would
prefernot to have one of its size on Gua-
na Cay because the island has full
employment.
"When I was invited to view the devel-
opment and hold discussions with the
developers I took advantage of that (invi-
tation) and brought along my col-
leagues," he said. "(After meeting) with
the residents of Guana Cay to hear their
concerns and (after relaying) those con-
cerns to the developers, we think that
i's'possible for manv of the concerns to
be satisfactorily resolved."-


FROM page one


Immi


are forced to do so," she warned.
During a press conference held She noted
on Monday by the Grand Immigrationot el
Bahama Human Rights Associa- son was not e, Pri
tion, Ms Baptiste claimed that thattime, Priwas a
infants born to Haitians in the and was awai
Bahamas died at the Carmichael and wasawa
Road Detention Centre after Bahamas.
being refused health care. "Wh wou
She also stated that Haitians "Why wou
living in the Bahamas for more government si
than 40 years have also been agreement and
deported from the country. terms of thed
Ms Baptiste stated that in has happened
March, 2001, the Bahamas gov- for the Bahar
ernment signed a heads of agree- they signed th
ment with the United Nations in the UN?" she
which the country declared that it Ms Baptiste
would root out all acts of preju- ago that Prime
dice among mankind. said on nation
The Bahamas, she said, made persons will be
a commitment to the UN when it Gibson starts
signed a declaration on Toler- new immigrant
ance and Diversity, a Vision for "We want,
the 21st Century. to know that,

FROM page one
lution to it and that is what we intend to do," Mr
Miller said.
Residents have described the Supreme Court's
ruling in the Bozine Town case a "dangerous
precedent" for the Bahamas and said that they feel
betrayed by the failure of consecutive govern-
ments to establish a proper land registration sys-
tem.
The Supreme Court last week ruled that the
residents have no legal title the land on which
some have lived for more than 50 years.
The area has been the site of a massive land dis-
pute since October, 2004, when the 500 or so res-
idents received letters from.the law firm of Lock-
hart and Munroe, informing them that its clients,
the Harrold Road Land Development Company,

FROM page one 'Lu1

or list any names as yet. How- "This can se
ever, he suggested it could to those not
grow much larger as the oper- business but
ation continues, import goods
Mr Rolle estimated that the them and be
round up of vehicles would they leave th
take another two weeks, and that they are
that although the vehicles were even those
expensive, they were still, in avoided what
fact, "used". trols are, we
"This is a case of under-val- clear that we s
uation. They were declared, but to come bac.
improperly so. Anything upon goods if the f
which the full duty was not paid been paid," hi
is classified as un-customed Reportedl,
goods. As a result we have all imported into
rights to hold or detain these regular fashi(
vehicles to ensure that customs was claimed th
formalities are set aside," he was not given
said. It is the inr
Mr Rolle said he wanted this ties, Mr Rolle
exercise to be an example, also the cars who v
a warning to any unscrupulous ly as the vehi
business person who wished to by customs tc
defraud the customs depart- country an
ment or the government, deposited di


gration
that even though
minister Shane Gib-
lected to office at
me Minister Perry
a parliamentarian,
re of the contract
signed by the
ld the Bahamian
gn such a heads of
d not live up to the
agreement? What
in five short years
nas to forget that
his agreement with
asked.
said a few weeks
e Minister Christie
nal TV that many
crying after Shane
implementing his
ion policy.
he prime minister
yes many persons


Bozine Town
(LANDCO) had been granted certificates of title
to property between Bozine Town, Knowles Dri-
ve and Harrold Road.
The residents fought back by organising a steer-
ing committee, staging demonstrations and raising
funds to secure legal counsel for the Supreme
Court case against the development company.
However, the residents were dealt a major blow
this week when Justice Jeanne Thompson ruled to
dismiss the action against LANDCO.
However, when the issue first started Mr Miller
said that no one would be displaced, and that
government will do what is in the best interest of
the people of Bozine Town and Knowles Drive.


xury' vehicles


serve as a warning
only in the car
t all those who
and undervalue
lieve that after
he customs area
e home free. Or
who may have
the border con-
want to make it
till have the right
k and seize the
full duty has not
e said.
y the cars were
the country in a
on. However, it
hat the true value
docent third par-
said, who bought
wifl suffer initial-
icles can be sold
o anyone in the
d the monies
rectly into the


Treasury.
V'Nevertheless, our concen-
tration for the time being is to
ensure that the item itself, on
which full duty has not been
paid, is seized by us and the
necessary formalities taken care
of later.
"Once something has been
forfeited to the government no-
one has the right to it. We can
sell it for the full value of the
item and those monies would
go directly to the Treasury. No-
one has a claim," he said.
It is with this tactic Mr Rolle
said that he hoped that pres-
sure would be placed on those
persons "doing foolishness" to
compensate those they had ini-
tially defrauded.
Initial reports indicated that
so far 37 vehicles have been
confiscated. However, Mr
Rolle would not confirm this
figure.


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Please register early to secure your seat, and to
assist us with our arrangements with the hotel.


are crying now. But, don't worry,
he and many of his fellow PLPs
will be crying later," she said.
She called on Minister
"Shame" Gibson to re-evaluate
and revisit these so-called new
policies that he is seeking to
implement, and seek wise coun-
sel before he gets the country
into further trouble with the
international community by
demonstrating that he and his
government are not leaders who
are able to keep their word and
speak the truth.
FNM leader Hubert Ingraham
has also criticised the PLP gov-
ernment for the recent "round-
up" of legal and illegal Haitians
in Eleuthera, and called on the
government to return to "inter-
nationally accepted" standards
and norms in the apprehension of
illegal immigrants in the coun-
try.
Grand Bahama Human Rights
president Fred Smith has blamed
the prime minister, police com-


missioner and immigration min-
ister for what he called recent
inhuman and degrading treat-
ment and abuse of Haitian immi-
grants in the Bahamas.
Mr Smith believes that inmi-
gration should not be a criminal
issue, and added that the associ-
ation is promoting the process of
legalising and not criminalising.
, He pointed out that Haitians
provide inexpensive, transient
labour, especially when so many
anchor projects are coming on
stream in the Bahamas.
Ms Baptiste said that there is
no facility to accommodate immi-
grants in Haiti, and elsewhere,
wanting to apply for immigration
work permits in their respective
countries.
"Will the minister kindly tell
us where in Haiti can an immi-


grant go to apply for a wi'o
mit? Who can they see'? '
the address and phone iii,
the immigration office in I'
any other count y !,.
matter that is handmjlin
ters?
"Why are they putting t -
before the horse and ti y
fool the Bahamian public
are they deporting persoui.,
have been here for more ..
years? Why are they di:- i:
persons who have held inc .
18 work permits?
"Why are they relusing u.a
care to infants bhr'i ,
Bahamas iL .iili iij i ftir
at the Carmichae ("'.
Centre? Is that why th- BI
an people elected a! .i.
PLP government to r,;,..
them?"


't ;
5~

a,


ta
I, /

I 55



I.. S
'ii-
a'






TRIBUNE SPORTS


PAAF lOB. FRIDAY. MAY 19. 2006


(Photo: Mario Duncanson/Tribune staff)


Queens' College Comets





shoot ahead of the pack


* TRACK AND FIELD
By KELSIE JOHNSON
Junior Sports Reporter

WEDNESDAY'S down-
pour might have dampened
the spirits of several of the
athletes participating in the
25th annual Primary School
Track and Field Champi-
onships, but yesterday's fine
weathersaw the Queen's .Col-
lege Comets come shooting
through.
The Comets led the open-
ing session medal haul with
four medals - a gold and
three bronze. They were fol-
lowed closely by the team
from Hugh Campbell Prima-
ry with three medals and
Abaco, capturing two gold
medals.
Three of the four medals


captured by the Comets were
claimed by Karin Carbin and
Shaqu6 Lockhart in the C
girls 100m, and Shelby Carbin
in the B girls 100m.
Karin's time in the 100m
was recorded at 14.15 sec-
onds, she was followed close-
ly by Sterra Johnson of North
Andros in 14.49 seconds leav-
ing Lockhart and Shante Rus-
sell to settle for the bronze
medals in a time of 14.72 sec-
onds.
In the B girls 100m, Shelby
clocked 13.81 seconds for the
third spot leaving the top two
spots for Carmenisha Cox of
St Thomas More and Kendaci
Hart of Gerald Cash Primary.
Cox's time in the event was
13.70 seconds while Hart
recorded 13.76 seconds.
The performance by the


Comets left head coach Sue
Coleby looking forward to
the events set for today and
the relays, which were
set to climax the opening
day.
According to Coleby, the
work being put in by the ath-
letes deserves a special com-
mendation especially since
the claiming of their medals
will go down in the history
books of both the association
and the schools.
Coleby said: "This is the
first time in the history of our
participation we were able to
win medals. I believe the kids
deserve a special commenda-
tion for their performances.
"We are doing very well, I
don't think the performances
today can be rated that's how
well they are doing. And to


think we are just getting start-
ed.
"We've got the relays com-
ing up later on today so I am
really looking forward to see-
ing them compete in those.
We got some help from the
coach from the high school
level and the kids were able
to catch on to what he was
showing them so quickly, so
=we will definitely be a threat
in that.
"You can't, forget about the
400m, the athletes who are
competing in this event, they
are ready to go. And tomor-
row (Friday) we've got the
200m."
The two gold medals for
the team from Abaco were
won by Rashad Rolle and
Terry Russell in the boy's
100m and high jump events.


Both Russell and Kyle Wil-
son of Gerald Cash cleared
4-feet-4-inches, but Russell
got the win due to knock-
downs. The third place posi-
tion belonged to South
Andros' Lamaron Sweeting, a
performance of 3-feet-10
inches.
Rolle clocked 12.27 seconds
to get the win over Shaquille
-Ferguson of Cleveland Eneas
who finished up in a time of
12.61 seconds and Ryan Blair
of Hugh Campbell Primary
in 12.64 seconds.
In the B boy's 100m D'An-
gelo Sands of Zion School
was first in a time of 13.18
seconds, Calvin Anderson of
Hugh Campbell was second
in 13.24 seconds and Shak-
won Lewis of Palmdale Pri-
mary third in 13.28 seconds.


SPORTS


............................................................. .............................................. ....................................................................................................................................................


Bahamian boxers meet their opponents


FROM page one

Bahamas and acknowledged his
prowess as a fighter, but at the same
time, he assured the Bahamian peo-
ple that he doesn't intend to let them
down on home soil.
"The Mexicans have been good
fighters over the years, so I know
I'm going up against a very good
opponent," he charged. "But I'm
real focused and I'm in tip top
shape and I'm prepared to put on a
show."
Having stopped a Puerto Rican
in his last fight, which served as a
tune-up for this one, the Bahami-
an lightweight champion was basi-
cally the same height and weight of
his opponent - something that he
was hoping for.
"This is an international fight, this
is a title fight, so I'm looking for-
ward to having a real good fight,"
he insisted. "But when it's all said
and done, I hope to come out of the
ring with the belt around my waist."
Another Mexican, Julio Gonza-
lez will be taking on Jermaine 'Chu
Chu' Mackey in the co-main event.
They are scheduled to fight eight
rounds. But neither fighter feels it
will go the distance.
Like Couch, Gonzalez said he's
been impressed with the hospitality
of the Bahamian people, but he
knows that it will be a different sto-
ry in the ring.
"I came here'ready to fight and I
intend to do what it takes to win,"
said Gonzsalez, who at age 28, is
10-3. "I know he's at home fighting
before the home crowd, but he will
have to come out and fight because
I'm here to fight."
The 26-year-old Mackey, who
doubled up as the disc jockey dur-
ing the gathering, is coming off a
successful six round decision in Key
West, Florida on May 6. With only
two weeks rest in between, Mackey
said he's ready to go again.
"He looks like he's a very good
fighter, but I will just go in there


* JULIO GONZALEZ will be taking on Jermaine 'Chu Chu' Mackey
(Photo: Mario Duncanson/Tribune staff)


and take my time," said Mackey,
who intends to improve on his 9-0
record. "I'm just going to go in
there and fight my fight and hope-
fully win every round."
Jamaican Ricardo 'Hard Heel'
Planter is back in the Bahamas for
another fight on the undercard.
He was present waiting for Elke-
na 'Ali' Saunders to arrive. Having
been here before, Planter knows
quite well that it won't be easy and


so he said he's just going to wait
and see what happen when they get
into the ring for their six rounder.
And in one of the two four
rounders, Sean 'Doodle Bug' Laing
will take on Keito 'Red Lion' Fer-
guson. Both fighters are eager to
get a shot at each other, but none
wanted to boast or brag about their
abilities.
"I only had about two weeks to
prepare, but I know with the time


that I put in, I'm confident that I
will do my best," he stated. "I have
a lot of respect for Doodle Bug, but
I don't want him to take me for
granted."
Laing, however, said he expects
that the fight will be a quick one.
"I don't know much about him,
but he doesn't know me, so we will
see what happens," he summed
up.
The show gets underway at 8pm.


Invite

"We are seeking to
invite 16 teams, ideal-
ly we would like to
'have two teams from
each league, with ain-i
additional four teams.
from our league to
represent ourselves as.
the hosts of this tour-
nament."
Forbes said inspira-
tion from the tourna-
Sment stemmed from.
the competitive natiUre
of the athletes them-
selves.
"It was dream I had-
from the first time I'
went and saw the
camaraderie and the
excitement throughout:
the leagues when the
teams played," he
said, "I thought it -
would be a good idea; ;
to bring the leagues
together and allow
them to compete
against each other fiil
bragging rights." ,
The format of the:-
tournament is double
elimination with :
games shortened to
five innings or one;.il
hour.
About 29 games will
be played over the ,,
course of two day .y
tournament. v
Tournament winite s
will receive the float-4
ing trophy and $500:
cash prize.
Second Place wifl I
receive a $200 prize
and the tournament'V
Most Valuable Playe
will receive $50.
The tournament is
sponsored by V8. i
Splash, the D'Albdn4s
Agency, G/H Enter-
prises and many oth-1
ers.
'


M YOUNG athletes come out of the blocks strong in the 100m girls A heats.


/n %.A L. I %J L.P, I I L I �l A I I I v it x i i-www


Softball set

for 'Battle.

of the

Leagues

* SOFTBALL
By RENALDO^
DORSETT
Sports Reporter

THE country's ama-
teur softball leagues , -
will come together in a
landmark tournament'
to determine which
league and individual
teams truly deserve to
be called the-best. .
"Over a dozen teams .
from various leagues:"
will vie for bragging
rights in the First
Annual "Battle of the
Leagues" Softball '
Tournament. .
Hosted by the New: :;
Providence Modified. :-
Pitch Softball League,
the tournament is
scheduled for May
27th and 28th at the - .
Blue Hills Sporting ' : .
Complex.

Dedicated

The tournament wil'l;f /
be dedicated to the -
memory of Gregory
Mitchell Maurice, for-'-'
mer starting center
fielder for the Royal
Bank of Canada -i
Lions. ""
Maurice died tragi.-,i ,
cally on May 12th inwia ',.
motorcycle accident,
he was 35.
In addition to the
Banker's League, the
versatile softball play-
er also played in the
Old Timers and Modi-
fied Pitch Leagues.
Alfred Forbes, Com-
missioner of the Modi-
fied Pitch Softball
League, said the tour-
nament has the poten-
tial to become one of
the most anticipated
events on the softball
calendar because it
encompasses a large
number of leagues.
"This tournament
will feature teams :Y
from all of the active-:
leagues in New ProWv-
dence, mainly the
Government, Modi-
fied Pitch, Banker's,
Old Timers, Slow
Pitch and Fast Pitch
Leagues," he said.


.J�

RTTF.77
77,







I ~ ~ ~ ~ ~ ~ ~ ~ OA NEWSFIDY A W Ub I'U


0 In brief

Trinidad

aims to up

trade with

S America

* TRINIDAD
Port-of-Spain
TRINIDAD A Jnd T,:,ba-,
:T!Ll, de\cl'op cl'oer [ilation-
ship' %ith Latin Anierli.l [
di crsil', its oil- Jnd _,.a -dr'.,:n
Lc'nonn%, the counil, � ir.ide:
:iii iter si1d \\ ednc Jd,,
Speaking at a convention
organized by the twin-island
nation's manufacturing associa-
tion, Trade Minister Kenneth
Valley said Trinidad has already
increased trade with Costa Rica
and Cuba.
"We see the integration of
our economy into Latin Amer-
ica as a critical objective," Val-
ley said. "The government is
not going to rely on the current
windfall of steep oil prices."
Anthony Smallwood, the
head of the European Commis-
sion's delegation in Trinidad,
said the trade objectives with
Latin American countries are
within reach and would make
the Caribbean country more
competitive.
"Although it is ambitious, we
see this aspect of Trinidad's for-
eign and trade policy as sensi-
ble," Smallwood said.
"Latin America cou'd be the
locomotive to promote positive
growth for Trinidad's manufac-
turers," said Esteban Perez, and
economist with the U.N. Eco-
nomic Commission for Latin
America and the Caribbean.










S Snd he ,.


I


- ACTOR Sidney Poitier, left, poses with his wife Joanna
Shimkus after being awarded Commander in the Order of the
Arts and Letters by France's Minister of Culture Renaud
Donnedieu de Vabres
(AP Photo/Francois Mori)


* By KARIN HERIG
Tribune Staff Reporter
SEEKING to give all
Bahamian landowners clear
titles to their properties, Philip
Davis, MP for Cat Island, Rum
Cay and San Salvador, has
appealed to parliament to rein-
state a committee to review all
matters pertaining to com-
monage and generation land.
Addressing his fellow par-
liamentarians during this
week's sitting of the House of
Assembly, Mr Davis said it is
the government's duty to
ensure that landowners have
clear titles to their land.
"It would be irresponsible for
us as leaders to allow the state
of commonage and generation
lands to continue as they are.
Many Bahamians are in pos-
session of these lands and some
are indeed living on them. But
these people are not the owners
of these lands in the truest
sense of the word," he said.
Mr Davis, chairman of the
committee, said that decades
and centuries ago, no one


could have foreseen that the
Bahamas would end up with
this hybrid type of land own-
ership.
"I am sure the original own-
ers intended their inheritors to
have maximum benefit from
the lands they left for them,"
he said.
Mr Davis said that the com-
mittee would like to come up
with a formula whereby people
who are entitled can have clear
title to their land.
"This would enable them to
use their lands in the same way
as every other land owner in
this country. They are the own-
ers of these lands and as such
they should have all of the
benefits of owners. With clear'
title they would be in a better
position to develop their land,"
he said.
As is stands, Mr Davis said,
there are many people who
inherit plots and lands, but are
not in a position to develop
them because they do not have
clear title.
"The banks are not pre-
pared to allow them to borrow


Poitier's top award in France


* FRANCE
Cannes
FRANCE i\ate Sidne\ Poili-
er its highest a its honor at the
Cannce,_ Film Fe,,ti ,il. t% here the
culture ininisLit praised the
(O car t i innr i"o t rinr ' d'do% n
barjieis for black jctoih in Hol-
I% \ood.
PolIIC, ", '1. a, named a com-
mander in France's order of ajii
and lettlcr' Thursda\. In l1t4,
he became the fiis. black per-
former in a leading role to \in
an Acadcrn\ .-: ard tor' Liies
>l the Field."
"You are the champion of
equal beiteen menicn," Culture
Minister Renaud Donnedieu dc
Vabres said.
Poitier thanked his par-
ents, who were field work-
ers in the Bahamas, for giv-
ing him a sense of honesty,


integrlr\ and colmpa'ssion
He .,jlo thanked the directors
\lho broke convention to hire


him. calling them "men ho
chose to change that pattern
because it \Ias not democratic it


KEMP'S FUNERAL HOME LIMITED
22 Palmdale Avenue, Palmdale
Nassau, N.P., The Bahamas



ARNOLD JOHN
AGEEB, 72,
Better known as

"Chic"
of Love Beach, Nassau,
The Bahamas died
peacefully at his home on
Saturday, 13th May, 2006,
will be held at Sacred Heart
Roman Catholic Church,
Shirley Street, Nassau on
.,. Monday, 22nd May, 2006
at 11:30am. Monsignor
Preston A. Moss will
officiate and interment will follow in the Catholic Cemetery,
Infant View Road, Nassau.
Arnold Ran Arnold's Dept. Store on Bay Street for well over
thirty years and was an avid fisherman and gardener. He loved
being outdoors - either in his boat with his line and a cup of
coffee or out in the yard with his banana and pear trees and
his tomatoes and mangoes. But even more so he was a man
who loted his wife and children passionately and fully. Corned
beef and grits in the morning and steamed conch in the evening
made him a happy man and a slice of raisin pound cake or his
sister Gloria's bread pudding for dessert sent him over the
moon. He always had juicy fruit gum in his pocket for the
children and a box of chocolates for every occasion.
He was predeceased by his parents John and Mary Ageeb
and his sisters, Gloria and
Theresa Ageeb.
Mr. Ageeb is survived by his wife, Dr. Gloria Ageeb; 2
daughters; E.J. Maria Ageeb and Lupita Ageeb-Rolle, 3 sons,
Jose, Thomas and Antonio Ageeb; 2 grand-daughters, Jazmin
and Lizbeth Ageeb, 2 grandsons: Shelton and Jonathan Ageeb-
Rolle; 3 brothers: Anthony, George and Charles Ageeb; 2 sisters,
Kathleen Winchell and Rosemary Ageeb; 1 son-in-law, Shelton
Rolle and 1 daughter-in-law Elizabeth Ageeb; 2 nieces Angelique
Priore and Michaelene Ageeb; 8 nephews, Bernard, John,
Gregory, Ashley, Mark, Edward, Brian & Christopher Ageeb; 6
great-nephews, Joshua, Thomas, Joseph, Andrew, and Jordan
Ageeb & Michael Priore and 6 great-nieces Heather Priore,
Stephanie, Rebecca, Dana, Erin and Jenna Ageeb and 2 sisters-
in-law, La Verne and
Karen Ageeb.
Relatives and friends may pay their last respects at Kemp's
Funeral Home Limited, Palmdale on Friday, 19th May, 2006
from 4:00pm to 6:00pm.


monies against these lands and
so the land remains dormant -
dormant, not for lack of inter-
est but rather for the lack of
the means to develop it."
He said the committee's
work is especially important
because of the ever-increasing
cost of land in the Bahamas.
"If we give clear title to
these Bahamians it will benefit
them a great deal and it will
cost us nothing. We owe this
much to the Bahamian peo-
ple," he said.
The committee was first
appointed in November, 2004,.
and has since then collected
information and documents
from the Department of Lands
and Surveys and the Depart-
ment of Legal Affairs.
Mr Davis said he foresees
the need for the committee to
also travel to some Family
Islands in the near future to
hear concerns and receive the
suggestions of the islanders.
To meet the country's imme-
diate needs in land administra-
tion and land information man-
agement, the government has


MP makes appeal to



review land rights


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FRIDAY, MAY 19, ZUUb, HAUL /


I li I I-IoulIcr-


U, R A N: C-E]








THE TRIBUNE FRIDAY, MAY 19, 2006, PAGE 5


O NEWS


0In brief

Cuba marks
anniversary
'f biotech

programme

N*CUBA
,Havana
i LCUBAN scientists on
Wednesday celebrated the 20th
anniversary of the island's
biotechnology program by
introducing several new prod-
ucts, including one designed to
heal foot ulcers in diabetics,
according to Associated Press.
.'*Cuba's communist govern-
ment has dedicated about US$3
billion over the past two
decades in Havana's Center for
GGenetic Engineering and
Biotechnology, said center
director Luis Herrera.
--With about 500 scientists and
another 1,000 workers, the cen-
ternhas undertaken more than
50iprojects over the past two
desiades, including the successful
production of several vaccines
nrw marketed worldwide, he
,said.
iThe celebration came the
same day that new German
research cast doubt on the effec-
tivbness of a sugar cane-based
ingredient originally marketed
in Cuba as a cholesterol treat-
ment. .
'pB)ut Herrera said the
research, published Wednesday
i�rathe Journal'of the. American
Medical Association, required
furtherr study. "We have to see
what the results were and if the
.research was well done," he
said,l. -

Dominican

migrants

found off
Puerto Rico

* PUERTO RICO
San Juan
-PUERTO Rican police and
the US Border Patrol detained
eightVDominican migrants after
they' reached this US Caribbean
territory'ss northern coast in a
rickety boat, officials said,
-a-ceording to Associated Press.
-Police: said Wednesday they
Detained six of the migrants in
Manati, about 30 miles west of
the'island's capital of San Juan.
US Border Patrol agents arrest-
edtlthe other two, police said.
Thousands of Dominicans
have risked the journey across
the rough Mona Passage in
search of better prospects in
Puerto Rico, just 70 miles to the
east. The. Dominican Republic
has been emerging slowly from
a punishing economic recession.
-' -"L.nI ' ' -, *.' ;


OR3IN

- UFeiz,.Fungicide


II


Rigby criticises Ingraham for



comments on recruitment


* By RUPERT MISSICK Jr
Chief Reporter
PLP Chairman Raynard
Rigby hit out at FNM Leader
Hubert Ingraham for his criti-
cism of government's decision
to consider hiring 1,200 new
public servants.
Speaking with The Tribune
yesterday, Mr Rigby called the
former prime minister's
remarks "immature".
At a PLP mini-convention
earlier this month, Public Ser-
vice Minister Fred Mitchell
announced that the govern-
ment is looking into expanding
the public service by 1,200
employees.
Last weekend, Mr Ingraham
criticised this - saying the
money could be used to give
teachers what they need: pari-
ty in pay with other profes-
sionals in the public service.
Mr Rigby said that he was
disappointed by Mr Ingra-
ham's statement, adding that
public commentary on issues
of national importance should
be made on a level above par-
tisan differences.
"You can have a difference
of opinion in terms of what
can be offered to them, but it
cannot be accurate to say that


The PLP chairman also
denied that the proposal to
expand the service is an elec-
tion ploy to win votes.
"At the last convention in
November of last year, the
minister of the Public Service
indicated that the government
was going to hire, so all he is
doing is reconfirming that
commitment, which was in
November of last year," the
party chairman said.
Mr Rigby described Mr
Ingraham's comments as
"immature commentary by a
former prime minister".
"Having served in the office
of the prime minister for nine
and a half years, one would
expect that he would under-
stand the dynamics of the
negotiations with the BUT,
understand what the implica-
tions are for the economy and
that we have to ensure the
future growth and develop-
ment of the country; that we
don't wreck it by being reck-
less in the way we make deci-
sions and how they affect the
national purse," the PLP chair-
man said.
Mr Ingraham said that when
the FNM was in office, they
accepted the teachers'
premise, which was there was


no parity in pay in the public
sector for teachers with qualifi-
cations similar to those of other
public servants.
He said that his government's
aim was to bring the teachers'
pay up over a period of time,
until it was in line with other
professionals in the public ser-
vice.
Mr Ingraham said that after
taking all relevant factors into
account, the former FNM
administration decided to seek a


fair and reasonable agreement,
with teachers that showed
respect for and commitment tqo
the development of teachers in
the society, and to the payment
of a reasonable wage by the;
government.
"As best as we can, we need
to increase their pay to ensure
that the good teachers remain iri
the system to further educate
our students and we also know
that any increase has to be done
responsibly," Mr Rigby said.


NOTICE

TheOMinistyloflSociallServicesDandlCommunityODevelopment
isDpublishinglforDtheLinformationloftflheOpubliclanDoverviewv
oflaDproposedonewopiecelofflegislation,DTheO(Familyl]And)
ChildlProtectionlAct.
ThelMinistrylwilllcommencelalseriesloflpublicOconsultation
onithelproposedllegislation]onlTuesday,0231Mayl2006,lat
BCPOUUHall,oFarringtonlRoad,Oatl7:30p.m.
TheOMinistrylinvitesDtheOviewsdloftheOpubliclonltheOproposed
legislation.
PersonsOdesiringfalcopylofDtheffullltextDmaylobtainDthelsame
fromlThelMinistry0oflSocialfServiceslandlCommunity
Development,oFredricklHouse,oFredricldlStreet,[lrheODepartment
oflSociallServices,DClarencelBainlBuilding,DThompson
BoulevardlorlThelDepartmentloflRehabilitativeOWelfare
Services,OThompsonlBoulevard.
..... .. .. ... .. .. ... ... .. .. ..... .. ... ... .. ... . ... ... . ... . ......................... .


DISGRUNTLED staff at
Bahamas Information Ser-
vices have been told to sup-
port their new boss or
resign.
Tourism Minister Obie
Wilchcombe "read the Riot
Act" to journalists and oth-
er workers at an emergency
meeting on Wednesday,
according to sources.
"It was a take it or leave it
situation," a source told The
Tribune. "He told staff to
either support their boss or
hand in their resignation."
The meeting came after
staff petitioned for the
removal of BIS director
Edward Ellis, claiming he
was unsuitable for the job
and treated employees "like
pieces on a chessboard."
But Mr Wilchcombe
made it clear during his no-
nonsense speech that Mr
Ellis was not going any-
where, and that dissenters
were unwelcome.
The showdown came
after the minister received a
letter saying staff had no
confidence in their leader.
Mr Ellis became director
of the government media
agency two years ago after
the death of popular Chris
Symmonett, a veteran jour-


a government who made a
decision to employ 1,200 per-
sons in the public service (is
wasting money) - knowing
obviously why they are
employing these persons, what
role these persons will play in
the public service, and being
satisfied of the need for those
people to come into employ-
ment at this time.
"We are not wasting money,
we are employing 1,200 people
who don't have a job, who are
looking for a job and who have
the basic skills we need in the
public service," Mr Rigby said.


nalist whose career went back
to the 1960s.
Staff said Mr Ellis, formerly
employed by Hansard, the offi-
cial parliamentary record, did
not have the experience to fill
the role satisfactorily.
However, Mr Ellis told The
Tribune that the agency's pro-
duction had expanded since he
took over. He expressed sur-
prise that anyone should be dis-
contented.
Last night, the government
was accused of cronyism in pro-
moting Mr Ellis. Critics claim
his family had close links with
Bimini - part of Mr Wilch-
combe's constituency.
"Staff thought it offensive
that 86 per cent of them should
express no confidence in this
fellow, and then have him
rammed down their throats,"
said the source.
At the meeting, Mr Wilch-
combe introduced a Jamaican
woman consultant who, it is
thought, will ultimately take
over from Mr Ellis. ,
The consultant is reviewing
BIS activities at the moment
and will suggest improvements.


"Staff got the impression that
Mr Ellis will eventually end up
reporting to this woman," said
the source.


KI ATHE POWER TO SURPRISE


It grows on you. Because the better you get
to know the new Carens, the more there is
to like. First, it's a matter of style: with Carens,
you confidently drive and arrive in style
whether your destination is the Government
House or the Fish Fry. Second, it offers loads
of room-enough for your family and friends
plus cargo. And, lastly, there's the pure
pleasure of driving an automobile as
exquisitely well-engineered as the new
Carens. . ....


SANPIN MOTORS LTD.
Thompson Boulevard, Oakes Field, Nassau, Bahamas, P.O. Box GT-2947
Tel: 326-6377, 326-6464/5, 326-0013/4, 326-6382 * Fax: 326-6315
Email: sanpin.vehicles@coralwave.com


" PA R I . S VCSASRD


* RAYNARD Rigby


Disgruntled BIS staff told


to support boss or resign


GOOD INVESTMENT OPPORTUNITY


Two Story
APARTMENT COMPLEX
3,324 sq ft
Lot No. 15 Block No. 19 '
6,540 sq ft
Centerville Subdivision, Nassau
-.- ; ' Comprising four apartment
S ..... .. . . . units


For conditions of the sale and any other information, please contact:
The Commercial Credit Collection Unit at: 502-0929 or 356-1608 Nassau, Bahamas
Interested persons should submit offers in writing addressed to:
The Commercial Credit Collection Unit, P.O. Box N-7518, Nassau, Bahamas
to reach us before June 15, 2006..
The right is reserved to reject any or all offers.


CARENS

7 - SEATER
A Sporty Elegance that's
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- ~


CONCH FEST

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GREEN CASTLE HOME-COMING
VEHICLE PASSENGER FERRY SCHEDULE
(Air-conditioned Passenger Cabin)
THURSDAY JUNE 1ST
DEPT. NASSAU 1:00PM
ARRIVE HATCHET BAY 4:40PM
DEPT. NASSAU 10:30PM
ARRIVE GOVERNOR'S HARBOUR 3:00AM
FRIDAY JUNE 2ND
DEPT. NASSAU 9:30AM
ARRIVE HATCHET BAY 1:10PM

RETURN MONDAY JUNE 5TH
'DEPT. HATCHET BAY 8:00AM
ARRIVE NASSAU 11:35AM
DEPT. GOVERNOR'S HARBOUR 5:00PM
ARRIVE NASSAU 9:30PM
RETURN TUESDAY JUNE 6TH
DEPT. HATCHET BAY 1:30AM
ARRIVE NASSAU 5:00AM


RATES
PASSENGER: One Way $40 * Round Trip $70
VEHICLES: Cars One Way $150 * Round Trip $250
TRUCKS & SUV'S: One Way $175 * Round Trip $300
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FRIDAY, MAY 19,2006, PAGE 5


TRIBUNE


THE


!I


,, I I







TLL-I IHIbUNlt


FRIDAY, MAY 19, 2006, PAGE 5B


Seamless transition' for


winning City Markets bid


FROM page 1B


turig na rival bid, arid that both
the three' Abaco, Markets
sh4areholders" and Neal &
Massy'were involved.
The minority 22 per cent
stake that the public holds in
Bahamas Supermarkets, and
whiich is traded on the over-
the-counter market, will
remain in public hands.,
, fhe company w ill remain as
a,standalone entity, and there
are. currently no plans to merge
it with, Abaco Markets, The
Tribune has learned.
,BSL Holdings will take its
time to assess the business
before deciding what to do
with it and whether any
changes are necessary. It is
likely that there will be a tran-
sition services agreement, with
Winn-Dixie providing man-
agement services for one year.
E Under the transition services
agreement with BK Foods,
Winn-Dixie was due to get a
$,:million flat fee, plus the cost
*i ] '


of all goods provided with a 5
per cent mark-up on top of
that.
BK Foods, which submitted
the initial $50 million offer for
Bahamas Supermarkets, which
operates 12 stores under the
City Markets and Winn-Dixie
brands, decided not to increase
its offer to match the $54 mil-
lion offered by BSL Holdings.
This was because it believed
any higher offer would over-
value the company.
Jerome Fitzgerald, a BK.
Foods director, told. The Tri-
bune: "We put in what we
tlhught was :a fair, price,-,and
obviously the other group saw
more value in it. We wish them
the best."
Among Mr Fitzgerald's part-
ners in BK Foods were entre-
preneur Mark Finlayson and
ex-Burns House chief financial
officer Phillip Kemp. It had
been suggested by several
sources that BK Foods did not
have its financing in place for
Tuesday's auction of Winn-
Dixie's stake in New York, but
those close to the losing bid-


der denied this.
BK Foods will have its $5
million deposit returned to it,
in addition to a $1 million
break-up fee as part of the
original deal it struck with
Winn-Dixie.
Several sources have sug-
gested that the winning bidder
could be massively overpaying
for Bahamas Supermarkets,
valuing it at between $30-$35
million at most.
This is because the company
owns none of its 12 stores or
headquarters, leasing all the
properties, which means that
the buyer will gain an operat-
ing business, fixtures and fur-
nishings, only.
However, the value of Winn-
Dixie's stake is based on the
price Bahamas Supermarkets
shares trade at on the over-
the-counter market.
BK Foods' $50 million offer
for Bahamas Supermarkets
valued Winn-Dixie's 78 per
cent stake at $14.1 per share,
compared'to the $11 price at
which the stock last traded on
the Over-the-Counter market.


t Bank of The Bahamas
I INTERNATIONAL

FINANCIAL PERFORMANCE FOR THE NINE-MONTH PERIOD ENDED MARCH 1, 2006
WITH YEAR OVER YEAR COMPARISON

Underpinned by continuing favourable economic conditions the Bank achieved brosd b4oed
record financial performance.
Total Assets stood at a record level of $524,394,059 representing growth of 31.95% om/ ihe
same period last year. This Asset growth was driven primarily by Loans and Advances to
Customers which climbed 41.59%, year over year, to $434,528,769.
The impressive Asset growth of the Bank has translated Into record operating performance. The
nine-month results have already surpassed total performance for all of last year with Net Income
amounting to $7,804,941 representing a 36.15% increase over the same period last year. For
the quarter ended March 31, 2006, Net Income totaled $2,803,899, an increase of $1,354,849
(or 93.50%) over the same period last year.
The strong overall financial performance has resulted in improvements in Return on Assets
(ROA) and Earnings Per Share (EPS) each of which settled at 2.26% and 50 cents respectively.
Return on Equity (ROE) rested at 17.89% reflecting the impact of the Bank's recent successful
$25 million Rights Offering.
The Bank acknowledges that such unprecedented growth brings with it new challenges, but
equally, fresh opportunities. Therefore, we have commenced actions towards the fulfillment of a
service quality objective aimed at delivering an unmatched customer lifecycle experience. To
support this initiative we have started the process of migrating to a new comprehensive core
banking software solution. This seamless exercise, complemented with our commitment to
acquire best-in-class expertise and skills and the Country's progress towards the horizontal
modernization of its financial Infrastructure, will pave the way for the Bank's transformation to a
financial enterprise.
We thank our loyal staff for their steadfast commitment to success and our directors for prudent
and sound guidance. Of parallel importance we are thankful of the support given by our
expanding customer and shareholder base and pledge to promote the goodwill of all
stakeholers./


managing Director



BANK OF THE BAHAMAS LUSTED
, CONSOLIDATED BALANCE SHT
AS OF MARCH 31, 2006
(Exprused in Bahamlan dolliaf)


, BAHAMAS DEVELOPMENT BANK
'N Cable Beach. \West Bay Street. P.O. Box N-3034
SNassau. Bahamas
Tel: (242) 327-5780: 327-5793-6
Fax: (242) 327-5047. 327-1258


m,. P-TIFA


New Providence

Lot#13 (5,000sq. ft) w/duplex
(1,344sq. ft) wh trim lime gr-'
Bancroft Ln Bamboo Town
(Appraised Value $147,000.00)

Vacant lot #1038
(6,000sq .ft.) -
Garden Hills #3.
(Appraised Value $35,000.00)

Lot #109 w/hse
60x70' - Craven
St Ridgeland Park
(Appraised Value $80,000.00)

Lot #52 (4,000sq. ft.) w/hse
(845sq. ft.) - Water St Big Pond
(Appraised Value $65,000.00)

Lot #171 (171 'x100') w/two
story building- East St opposite
Deveaux St.
Appraised Value $300,000.00)

Lot #27A (55' x 90')
w/ Incomplete split level hse-
Bofatswain Hill or Bosun Hill
(Appraised Value $139,580.00)

Vacant Lot#144 (12,320sq. ft) -
Thompson Street Danottage Estates
Subdivision.'"
(Appraised Value $86,000.00)

Lot#39, BIk #35 (2,500sq .ft.).
w/wooden Hse,#64 -
Lincoln Blvd, Englerstone Sub.
(Appraised Value $52,000.00)

Andros

Property (4,344 sq. ft.) with duplex
(1,174 sq. ft) in the settlement of
Fresh Creek, Central Andros.
(Appraised Value $73,258.00)

Lot #119 (22, 500sq. ft.) with a
single story complex (3,440 sq. ft.) - Sir
Henry Morgan Dr Andros Beach Colony
Subdivision Nicholl's Town Andros
(Appraised Value $147,700.00)

Vacant Property
100' x 150' in the settlement of
Pinders, Mangrove Cay South Andros
(Appraised Value $22,500.00)


Grand Bahama

Lot #9 with house (3) Bedrooms,
(1) Bathroom and an Incomplete split level
extension west Pinedale Rd Pinedale,
EMR Freeport, Grand Bahama.
(Appraised Value $95,000.00)

Vacant Lot #8 BIk
#12 Unit #3
(11,250sq. ft.) -
Henry Ave Derby Subdivision
Freeport Grand Bahama

Abaco

Lot #54 (6,500 sq. ft.) with triplex foundation
in Murphy Town, Abaco.
(Appraised Value $29,916.00)

Eleuthera

15.Property 31'xl111'
with house Lord Street in the settlement of
Taprum Bay Eleuthera.
(Appraised Value $45,000.00)

Vacant lot 11,659 sq. ft.-
North Palmetto Point
(Appraised Value $9,000.00)

Cat Island

Property with twelve (12) room motel 1.39
acres- In the settlement of Arthur's Town,
Cat Island
(Appraised Value $1.3 Million Dollars)

Exuma

Lot #134 (4,350 sq. ft.) with two story
building 4,160 sq. ft, apartment upstairs
and shop downstairs, George Town Exuma.
(Appraised Value $468,000.00)

Vacant Lots
#7747R & 37747S
160'x125'-
Florence Dr., Bahama Sound
No.2 Exuma
(Appraised Value $60,000.00)

Inagua

Lot#43 (9,000 sq. ft.)
with house- Matthew Town
Inagua Russell Street.
(Appraised Value $120,000.00)


ASSETS


Electronic Equipment
(1) Compaq Presario Computer Monitor @ Tower
(1) Whirl Microwave
Tec Cash Register

Machinery
(1) Food Mixer'
(1) Wall Tv Stand
(1) Chrome Juice Filler
(1) Multi Fruit Juicer
(1) Chrome Mixer
(1) Deli Showcase

Vessels
29' Pheonix w/engines (Jannette 2)
29' (1983) Vessel (Lady Rece)
28' Carver Vessel/ Hull Only
48' North Carolina Hull (1989)
52' Halteras Fibre Glass (1979) MV Buddy
122' Single Screw Steel Hull (1960) MV Lisa III


Tables
(1) .Wood Table (Round)
(1) Marble Table (Rectangle)

Cooler/Freezers
(1) Two Door Chest Freezer
(1) One Door Chest Freezer
(1) Blue Coleman Cooler
(2) Double Door Coolers
(1) Three Door Cooler
(1) Three Door Steel Freezer

Vehicles
(1) 03 Yumbo 125cc Motdrcycle
(1) 96 Ford Explorer
(1) 97 Dodge Stratus
(1) 99 GMC Truck
(1) 2001 Hyundai H-100 Bus


COOKING UTENSILS POTS, PANS & PLATES DRY CLEANING EQUIPMENT

Serious Inquires only. Sealed bids marked "Tender" should be submitted to Bahamas Development
Bank, P.O. Box N-3034, Nassau, Bahamas or telephone 327-5780 for additional information.
Please note that all bids on the aforementioned properties and assets should be received by
May 26, 2006 the Bahamas Development Bank reserves the right to reject any or all offers. All
assets are sold as is.


MARCH MARCH
31.2006 31.2005


ASSETS
Cah and due from banks
nkw.smIn. Loans and Advances10 Customers, net
Other"m
TOTAL

LABILIMES
Deposits customers and band
Bonds Pqmt
Total LUbis
SHAREHOLDERS EQUITY
Share Copil
Authoft d - 25,000,000 pretd tre of $ 1.000 each
45.00000,00 cmon tan eofS$B1 each
Issued 0 Fully Paid -15,600.000 common thare (2005:12.000,000)
ShaM Preihm
TrummyxyShU
Genive RMne
Rdelned Ealnlngs
Tokl Streholders Equity
TOTAL


JunIe
30.2005


$ 37,530,687 $ 34,176,.873 S 58.391,204
467,178.027 346,522479 377.961,676
191685.345 16724633 16,.792,294
' ..341 ' $ 397423985 S 453.145174


419,179.037 ,331 ,6,353 381,280.413
17.000,000 17,000,0oo 17.000,000
15.032.025 5,69410 10.547.828
451,211.062 354.390.563 408,28,241


15,600,000 12o.000Oo 12,000,000
28,587.866 7,589,064 7,589,064
(252.699) (264,850) (264,270)
1,400.000 1,400.000 1.400,000
27.64730 22.309208 23.592139
S 73.182.997 S 43,033,422 $ 44.316,933
T -aIKM 397,423985 531474


CONSOLIDATED STATEMENT OF INCOME
9 MONTHS ENDED MARCH 31, 2006
(Expressed In Bahamian dollars)


NET INTEREST AND OTHER INCOME:


Interest Income
Interest Expense
Net Interest Income
Less Net Provision for Loan Losses
Net Interest Income after Provision for Loan Losses
Non-interest Revenue
Income from Investment
Net Revenue
NON-INTEREST EXPENSES
NET INCOME


EARNINGS PER SHARE


$ 26,047,423
9.596,989
16,450,434
1,821,719
14,628,715
5,307,533
1.116,276
21,052,524
13.247,583

$ 0.50


$ 19,834,179
8,156,646
11,677,533
468,829
11,208,704
3,500,977
1,558,909
16,268,590
10,535,791
$ 5,732,799
$ 0.48


BANK OF THE BAHAMAS LIMITED
CONSOLIDATED STATEMENT OF INCOME
3 MONTHS ENDED MARCH 31,2006
(Expressad In B dhamian dollars)


NET INTEREST AND OTHER INCOME:


Interest Income
Interest Expense
Net Interest Income
Less Net Provision for Loan Losses
Net Interest Income after Provision for Loan Losses
Non-interest Revenue
Income from Invesrments
Net Revenue
NON-INTEREST EXPENSES
NET INCOME


$ 9,563,970
S3318,375
6,245,595.
490156
,.5,755,439
1,116,035
.5687975
7*59,440
4,7 o550
$ 24803,899


EARNINGS PER SHARE


$ 6,362,536
2,759,533
3,603,d03
72919
3,530,084
1,183,230
687,975
5,401,289
3,952,239
$ 1,449,050
$ 0.12


CONSOLIDATED STATEMENT OF CASH FLOWS
9 MONTHS ENDING MARCH 31,2006
(Expressed in Bahamian dollars)


CASH FLOWS FROM OPERATING ACTIVITIES:
Netmo'.
Adjuastntb s forinon-cashbtem

Net change in operating assets
Net cash (used in) provided by operating activities

CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of fixed assets
Pmurase ofinvestments
ProceedsB fam maturity of investments
Net cash ad la in veIn activities
CASH FLOWS FROM FINANCING ACTlVIIM S:
Dividends paid
Rights offering
Net cash provided by (used in) flimau g eaetvi

NET DECREASE IN CASH AND CASH EQUIVALENTS
DURING THE PERIOD


2006

S 7,304,941
3.013262
10,818,203
(47,93,022)
(37,111,819)

(679,937)
(3,462,000)
100,000,
(4,041,937)

(4,305,563)
20.293,239


2005

S 5,732,799
1336,498
7,069,297
(1,221,855)
5,847,442

(2,607,488)
(20,234,000)
6,116,300
(16,725,188)

(2,032,435)
(2032,435)


END .OF PERIOD


CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD 58,391,204


(20,860,517) (12,910,181)


$ 37,530,687


47,087,054
S 34,176,877


BANK OF THE BAHAMAS LIMITED
NOTES TO CONSOLIDATED INTERIM CONDENSED FINANCIAL STATEMENTS
9 MONTHS ENDED MARCH 31, 2006

1. ACCOUNTING POLICIES
These consolidated interim condensed financial statements are prepared in
accordance with IAS 34 Interim Financial Reporting. The accounting polices used in
the preparation of these consolidated interim condensed financial statements are
consistent with those used in the annual financial statements for the year ended June
30, 2005.

The consolidated interim condensed financial statements include the accounts of
Bank of the Bahamas Limited and its wholly owned subsidiary, Bank of the Bahamas
Trust Limited.

2. COMPARATIVES

Certain comparative figures have been restated to comply with the current year
presentation.






4 ',,, 4 ,' ,r.'2.J:A., ~"/-'.4~t.Z ~' 3


-n.ar TRIBUNE BUSINESS


cr.M~'r :~ -- - - --


8. MATURITY PROFILE
, S Ty maity profile of die Bank's assets and liabilities as at December 31, 2005 based on the remaining period to the repayment date
is asfollo ..
2005
Repayable Repayable
-' ' Repayable after after
within 3 months I year Repayable
Repayable 3 months but within but within after
on demand or le= I year 5 years 5 years Undated Total
US$ US$. US$ US$ US$ US$ ,USS.


'r' ASSETS
*;n..,' Blk-baane '- �c,
Group companies,
Others
Lommnd advance to customer
Inveasments In securitiesl
Wanv r' i ts in associated companies
' i aleateeiabe and other assets
Fixe*assets :


1,417,929
45,978 15,850,000

- 11,068,802


10,169


43,53


- - - - 1,417,929
- 15,895,978,

- 3,384,523 1,539,169 - 15,992,494
- - - 13,143,645 13,143,645
39 94,040 20,887 - 168,635
- - - 9,338 9.338


TOTAL ASSETS 1,463,907 26928971 43,539 3,478,563 1560 13152983 46,628,019

SU. , , . * - .
Deposits omgroup companies -
Deposits of customers 18,609,720 6,560,603 . . , 25,170,323
Intret payable. .. . . . 73,458 ., 22,229 - . , . 95,68
Other payable and accrued hablhtes 17,575 '.- - - . 17,575
TT, . AL -UABlTIES . 17,575 18,683,178 682,832 , 25283.585
.-"a $ ro6,2' 82,245,793 (6,539,93) 3,478563 056 .152,983 21 344434


2004
Repayable Repayable
Repayable after after
within 3 months I year Repayable .
Repayable 3 months but within but within after
on demand or less 1 year 5 years 5 years Undated Total
US$ US$ USS US$ US$ US$ S US$.


ASSETS
Bank balances
Group companies
Others
Loans and advances to customers
Investment in securities
Investments in associated companies
Interest receivable and other assets
Fixed assets
TOTAL ASSETS

LUABIUTIES
Deposits from group companies
Deposits ofcustomers
Interest payable
Other payables and accrued liabilities
TOTAL LIABILITIES
NET EXPOSURE


435,791
21,702


2,550,000
1,280,183
9,493,409


- - - - 435,791
- - - - 2,571,702
- - - - 1,280,183
0 - - - 12,993,409
- - 12,482,471 12,482,471
25 - - 5,647 201,550
S5.145 5,145
25 12,493,263 29.9706251


- - - . - 2,048,021
- - - - 8,314,621
- - . . 31,778
- - - 39.095
3511 - 112 L - 109433.515
3,541,125 -_. - 12.493,263 19.536.736


3 dollars) of the Bank's assets and liabilities as at


2005
USD PHP HK$ ' Total
USS USS US$ US$


1,417,929
15,895,978

15,992,494

168,635
9,338


- 1,417,929
- 15,895,978


13,143,645'


33,484,374 - 13,143


25,170,323
95,687
17,575 7-
25,283,585


15,992,494
13,143,645
168,635�
S9338


,645 46,628,019


- 25,170,323
- 95,687
- 17,575

- 25,283,585


S - J.789 - 13,143,645 21,344,434


3,500,00,


154,778 41,12

457493 13478370 3,541.12


- 2,048,021
- 8,314,621
31,778
39,095 -
39,095 10,394,420
418,398 3,083,950


9, CURRENCY PROFILE

- The currency profile (denominated in US
December 31, 2005 is as follows:





"ASSETS .
Bank balances
Group companies
0o ' Others
Loans and advances to customers
i.... ','+ Investents hin securities
"'" Investririts in associated companies
Interest receivable and other assets
.....Fixed assets .

TOTAL ASSETS
.' (4'. I l
LIABILITIES
Deposits of customers
. Interest payable
Other payables and accrued liabilities
TOTAL LIABILITIES

.< NET EXPOSURE


CURRENCY PROFILE - CONTINUED

2004
USD PHP HK$ Total
USS US$ US$S USS


ASSETS
Bank balances
Group companies
Others
Loans and advances to customers
Investments in securities.
Investments in associated companies
Interest receivable and other assets
Fixed assets
TOTAL ASSETS

LIABILITIES
Deposits from group companies
Deposits of customers:
Interest payable
Other payables and accrued liabilities
TOTAL LIABILITIES
NET EXPOSURE


435,791 -,
2,571,702
1,280,183
12,993,409

201,550
5,145 -

17,487,780


2,048,021
8,314,621
31,778
39,095 -


12,482,471



12,482,471


10,433,515 -
7,054,265 - 12,482,47


10. RELATED PARTY BALANCES AND TRANSACTIONS

Balances and transactions with related parties are as follows at December 31, 20


2005
us$


Ultimate holding company

Transactions
Investments purchased during the year
Sale of investments during the year


Bank balances
Deposits from group companies

Interest payable


Transactions with group companies are
transactions with unrelated parties."


68,971,299
65,972,214


1,417,929


95,687


435,791 :
2,571,702 ,
1,280,183
12,993,409 4,
12,482,47.1 ,
201,550 ,
5,145 ;
29,97025 :


- 2,048,021 [
- 8,314,621
31,778 :
39,095 :

10,433,515
1 19,536,736

4,-

)05 -

2004
US$ :




237,590,208 ,
238,216,669 '


435,791 <

2,048,021 �

31,778 ,
ll~i -iT-.i i n l


entered into on terms similar to those applicable to


11. RISK MANAGEMENT

In the normal course of business the Bank incurs different types of risks. These include "
credit risk and price risk.

Credit risk - Credit risk arises from the failure of a counterpart to perform according to
the terms of the contract. From this perspective, the Bank's significant exposure to credit K
risk is primarily concentrated in placements with banks, loans to customers and
investments. The placements, loans to customers and investment transactions have been
placed with high quality counterparties and as such the Bank's exposure to credit risk is
minimal.

Price risk - Price risk is comprised of currency risk, interest rate risk and market risk.
Currency risk emanates from the possibility that the value of a financial instrument will
fluctuate due to changes in foreign exchange rates. The Bank minimizes its risk by
monitoring levels of foreign currencies particularly those susceptible to foreign exchange
rates volatility. As of the balance sheet date the Bank's assets and liabilities denominated
;..;.. in foreign. currencies are disclosed under Note 9. Interest rate risk is the risk that the
:, ,'..alueoK".a�aicial instrument may fluctuate market interesitrates. The Bank's exposure to this is moderate as the fixed rate financial
instruments are usually short term, whereas the financial instruments which are medium
term are at floating rates.
Market risk - Market risk is the risk that there will be a change in the value of a financial,
instrument due to changes in the market conditions. The Bank's exposure to this risk is:,
minimal as the investments represent debt securities which are intended to be held to '
maturity.


12. GEOGRAPHICAL SEGMENT INFORMATION

The Bank's assets and liabilities are predominantly concentrated in the United States of ,
America and Hong Kong. ,
� / "' ' '


PUB S



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PAGE 8, FRIDAY, MAY 19, 2006 THE TF~BUNE
1 1 ______ ___________


FINEST HAND CRAFTED


ENGLISH SHOES.


ALFRED, SARGENT
AND CHURCH'S


*1 I.*01,;:...


I - ~1~


AS the election season heats up, certain
MPs are beginning the mad dash to their con-
stituencies with the hope of being given
another chance. However, many are unde-
serving of being re-elected for another parlia-
mentary term.
In anticipation of the Bahamas' next
dramatic political showdown, I've decided to
examine the electoral status of current MPs -
in New Providence, Grand Bahama and the
Family Islands - in a three-part column
spanning three weeks. This week, the
re-election chances of MPs serving Family
Island constituencies, some of whom have
long treated their constituents as "potcakes",
will be scrutinised.
Due to Bimini being attached to a profile
that includes West End, Grand Bahama,
Tourism Minister Obie Wilchcombe is first
under the electoral spotlight.
As an MP, Mr Wilchcombe has been
superlative, genuinely interested in his
constituents, even dropping everything to fly
and stay among them during times of tragedy
and adversity and hurricanes. He has also
sought to bring investments to West End and
Bimini. In his capacity as tourism minister,
arrivals have increased, a tourism policing
unit has been established and. major investors
have become interested in the Bahamas.
Obie Wilchcombe is, I feel, the future of
the PLP and a prospective prime minister.
His attributes and the uncontroversial
unsullied style make him a "shoo-in" to win
his seat. He is one of three MPs I consider
unbeatable - whoever is running against him
should prepare to lose their $400 deposit!
Hubert Ingraham, MP for North Abaco, is
also unbeatable. As Abaco can be
considered "FNM country", and having won
the seat for three decades, it is unlikely that
Abaconians will now abandon their political
shepherd.
While North Abaco sources say they
consider Mr Ingraham a good
representative, more than anything, the for-
mer PM's experience and political skills will
earn him another term.
As South Abaco MP Robert Sweeting is
reportedly considering retirement, it would
be interesting to see the candidates poised to
contest his seat.
It is widely speculated that the FNM will
run ex-PLP senator Edison Keyes in this seat.
If so, his odds of winning are high.
In North Andros and the Berry Islands,
Vincent Peet should look to take a spanking
at the polls. Recently, Mr Peet has been seen
promoting the construction of a sub-division
and the renovation of an athletic track and a
dumping site.
However, the Financial Services Minister's


last minute vote-getting initiatives may prove
fruitless. According to North Androsians, he
has performed poorly as an MP.
Mr Peet's disappointing tenure as
immigration minister and the Western Air
fiasco have prompted several North
Androsians to state that, come election time,
the crabs will be crawling and Mr Peet will
faint in the heat of defeat.
Whitney Bastian's chances of retaining
South Andros are bright. As an independent
MP, he is most outspoken and has fervently
lobbied for the people of South Andros.
From my perspective he has done a
comparable, even better job, than the official
opposition in challenging the governing PLP
in the House. However, in this season of
intense party politics, he may wish to
consider joining a party.
In Cat Island, Rum Cay and San Salvador,
Philip Davis may likely retain his seat.
Recent undertakings in Cat Island and the
groundbreaking of the Montana
development in Rum Cay have heightened
Mr Davis' likelihood of recapturing these
constituencies. However, more could be done
for San Salvador.
Speaker of the House and MP for South
Eleuthera James Oswald Ingraham and
Exuma MP Anthony Edwards are both likely
to lose their seats. Neither Mr Ingraham nor
Mr Edwards have been highlights in their.
respective roles as House Speaker and
Deputy Speaker, and sources in both
constituencies have said a groundswell
motioning for change is underway whenever
the election bell rings.
V Alfred Gray, MP for Mayaguana,
Inagua, Crooked Island, Acklins and Long
Cay, will be voted out. He has performed dis-
mally as a minister and, according to con-
stituents, has performed dismally as an MP.
Well-placed sources state that Mr Gray,
who won in 2002 by a mere four votes, should
look to be beaten by proposed FNM
candidate Dion "The Bruiser" Foulkes.
Lawrence Cartwright, MP for Long Island:
and Ragged Island, has also performed -
abysmally. Mr Cartwright's election has not
done much for local affairs and development-
on the island, particularly the north. * ' ' "
Mr Cartwright was well aware that join ing 7
the FNM would increase his electoral
chances in Long Island, so he may recapture
his seat.
* Next week, I'll examine the re-election
odds of New Providence MPs. The PM must
consider dividing Long Island into two seats!

ADRIAN GIBSON
ajbahama@hotmail.comrn


3k of The Bahamas

a NT ERNATIONA L

"A growing and dynamic Bahamian institution"

VACANCY FOR THE POSITION OF:
EXECUTIVE ASSISTANT, HUMAN RESOURCES

Core responsibilities: |

* Knowledge of Human Resources to effectively carry out all HR
functions
* Serves as payroll officer; conduct necessary calculations associated
with payrolls such as insurance premiums and staff loans
* Complies and prepares statistical reports and other data needed for
external and internal audits
* Preparation of accounting entries to complete various HR transactions,
* Coordinates Pension administration
* Completes administrative functions like the accurate typing of offer
letters
* Maintains personnel files

Knowledge, Skills, and Abilities:

* Strong desire to work in Human Resources;
* Must be confidential
* Excellent interpersonal skills
* Three years Human Resources experience
* Associate Degree or Banking Certificate
* Excellent oral and written communication skills
* Ability to take initiative and be a good team player


Benefits include: Competitive salary (commensurate with
qualifications); group medical, vision, and life insurance; attractive .$
package and a pension scheme.

Send resume to:

The Manager, Human Resources and Training
Bank of The Bahamas International
P.O. Box N-7118
Shirley Street
Nassau, Bahamas

Deadline: May 26, 2006


I .


TELmm 322m4,535


PAGE 8, FRIDAY, MAY 19, 2006


THE TRIBL)NE




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PAC 10, FRIDAY, MAY 19, 2006


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The Tribune

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STORY SO FAR: On the day of
Elk Valley School's final exams, it
was pouring rain. Ida, worried, not
concentrating on the road, drove the
car off the road.


CHAPTER
. SEVENTEEN
The Last Day of School


F ELIX peered up from -the
F floor of the car. "Ida,'hIw'far
are we from school?"
Her head resting on the wheel, Ida
said slowly, "I don't know. Halfway,
maybe."
"What're we going to do?"
"I don't know."
"We going to miss the exams?"
"Probably."
Ida peered out through the wind-
shield. It was so spattered with
leaves and mud she couldn't see any-
thing.
Suddenly there was a knock on the
side door. Felix and Ida jumped. Ida
looked to her right. Tom was stand-
ing there.
"What're you doing?" he asked,
grinning. "Playing hooky?"
Ida didn't know whether to laugh
or cry.
"Want a lift to school?" Tom asked.
"Old Ruckus can carry us all."
They were the last ones to get to
school, but Miss Sedgewick had not
yet arrived. Herbert had crawled in
through the window and opened the
door. Now Ida led in the rest.
Ida looked around. Natasha had lit
the lamps. Herbert had started the
fire. The room was neat save for a
few muddy footprints on the floor.
"Thank you, everyone. Let's take
our seats."
Ida went to the teacher's desk and
made sure that sharp pencils were
ready and that the blackboard was
clean and supplied with chalk.
There was a knock on the door.
Felix ran to open it. It was Miss


Sedgewick. This time, aside from
her purse, she carried a briefcase and
an umbrella. "May I come in, Miss
Bidson?" she asked.
"Yes, please. And I'm just Ida
today."
Miss Sedgewick looked at Ida.
"Have you been swimming again?"
she asked.
"The rain," Ida said lamely.
Because of the weather there was
no flag raising. Ida found her old
place in the back row next to Tom.
He gave her a smile. Full of tension,
she smiled back, barely. Miss
Sedgewick opened her briefcase.
"There are two parts in your exams,"
she announced to the students.
"There are written sections" - she
held up some little booklets - "and
then there will be recitations and
board exercises. When I call you,
close your test booklets completely
and come forward. I'll start with the
youngest and work my way up,
"I see your teacher, Miss Bidson,
has some pencils ready for you.
Good. Let's begin.
The children opened their book-
lets. Natasha and Tom began to write
immediately. Miss Sedgewick called,
"Mary Kohl! Please come forward
and let me hear your ABC's."
Taking a deep breath, Ida quickly


.leafed through her booklet. The
table of contents listed exams in
"Writing, Spelling, Grammar, Arith-
metic, Geography, U.S. History, Sci-
ence." She opened the book at ran-
dom and came upon "Geography.."
The first question was, "Compare
South America to North America in
terms of size, shape, principal prod-
ucts, and population." Her stomach
seemed to roll. Nervously she turned
to Arithmetic. The first question
was, "A farmer hired a man and a
boy at a yearly expense of $480. The
man received $25 a month. What
part of the $480 did the boy receive?"
Ida groaned inwardly and then
looked around the room. By the
teacher's desk, Mary was reciting the
alphabet in a loud, singsong voice.
Everyone else was bent over their
tests. She could hear the soft scratch-
ing of pencils, the rub of erasers. Her
damp dress itched.
Panic gripped Ida. She was wasting
precious time! "You have to pass,"
she scolded herself. "You must!
Start!" Picking up a pencil, she
turned to the front page of the test
booklet. "Reading." The first line
said: "Write out a poem from your
reader for this year. Give author,
dates of his or her birth, and title.
Then give all stanzas."


"I know that," Ida thought to her-
self with enormous relief and began
to write.
The day seemed to race by. There'
was a morning recess but though the
rain had stopped, no one wanted, to
be out for long, other than to stretch
and drink a cup of water. Lunch was
much the same. Food was bolted,
not eaten. After lunch, Mary and
Susie finished their tests and went
to play outside.
The others continued.
At two-thirty, Niiss Sedgewick rang
the desk bell. "Half an hour," she,
informed them. "Check your work."
Then, "Five minutes! Make sure
your name is on everything."
Finally, the last'bell '
Miss Sedgewick collected the
papers, and packed them away.
"How will we know if we passed?"
Ida asked her."
"I shall be grading them tomorrow.
You'll be informed by mail." She
offered an encouraging smile and
left. The children followed slowly.
Standing by the teacher's desk, Ida
gazed over the school. In all her life
she had never felt so exhausted. And
yet, the empty room seemed sad
without students.
"How'd you do?" Tom asked Ida,
as she closed the school door and
locked,it.
"I don't know," she confessed.
Then she asked, "Tom will you help
me pull our car out of the mud?"

(Continued on Tuesday)

Please direct requests for a teacher's
guide (cost $7) containing vocabulary
words, story questions, and newspaper
activities to The Tribune's marketing
department on Shirley Street, by calling
502-2394 or by e-mailing
nie@tribunemedia.net.

Text copyright � 2000 Avi
Illustrations copyright
� 2000 Brian Floca
Reprinted by permission
of Breakfast Serials, Inc.
www.breakfastserials.com


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WRITTEN BY AVI

ILLUSTRATED BY BRIAN FLOCA


*
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FRIDAY, MAY 19, 2006

SECTION


Fax: (242) 328-2398
E-Mail: sports@100jamz.com


MIAMI HERALD SPORTS


ajor and


Couch face off


ahead ofi


* MEACHER 'Major Pain' Major and Luis 'Lichi' Couch meet up yesterday.
(Photo: Mario Duncanson/Tribune staff)


6


'6'
6.
C
i~I'~~t i


* BOXING
By BRENT STUBBS
Senior Sports Reporter
MEACHER 'Major Pain'
Major and Luis 'Lichi' Couch
came together face to face for
the first time yesterday as they
prepare to challenge each oth-
er for the World Boxing Asso-
ciation's vacant FEDECaribe
lightweight title.
The two squared off on the
stage at the First Class Pro-
motions' office as they wait-
ed for the official weigh-in cer-
emony and medical check up
as a part of the final proce-


dures before tonight's clash of
the titans at the Wyndham
Nassau Resort Ballroom.
With their fists clinched as
they posed for the photogra-
phers, both fighters just stared
at each and admitted after-
wards that it won't easy when
they step into the ring for the
12-round main event bout.
Delighted to here in the
Bahamas as he spoke through
an interpreter, Couch said he
likes what he saw in Major,
whose credentials are a little
bit better when stacked up
against his.
"He seems to be a very


light
strong competitor, just like
me," said Couch, 23, who has
a 6-5 win-loss record in four-
years of fighting on the pro-
fessional scene. "If we have,
to go 12 rounds, I will be pre-
pared to go 12 rounds."
This is Couch's second shot
at an international title. In his:
first one in December, he lost
a split decision. This time,
however, he has vowed to0
return to Mexico as the new
champion.
However, the 24-year-old
Major welcomed Couch to the'
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FM







FRIDAY, MAY 19, 2006, PAGE ..


TI--I TRIRI INF


0 In brief


Search is

suspended

for missing

passenger

BAHAMIAN and US rescue
teams have suspended their
search for the man who disap-
peared off a Royal Caribbean
cruise ship on Monday.
Investigators who have
reviewed the surveillance tapes
installed on the Mariner of the
Seas cruise ship have deter-
mined that Daniel DiPiero, 21,
of Canfield, Ohio, fell over-
board after a night of heavy
drinking with friends.
Interviews with DiPiero's
friends revealed that the group
had concealed liquor in mouth-
wash bottles and brought a bot-
tle of rum in their luggage.
The friends videotaped them-
selves drinking the alcohol on
Sunday afternoon, and DiPiero
continued drinking until mid-
night, investigators said.
Friends of DiPiero last saw
him on the ship's deck around
midnight on Sunday.
About two hours later - at
2.30am on Monday - shipboard
security cameras show DiPiero
falling overboard from a rail
near the front of the ship, inves-
tigators said.
DiPiero was first reported
missing Monday morning when
his friends realized he had not
slept in the cabin they shared.
Aircraft and vessels from the
US Coast Guard and the
Freeport's BASRA office
searched 900 square miles of
ocean between Grand Bahama
and Coco Cay to no avail.

US sailors

repair

schools in

Antigua

* ANTIGUA
St John's
US sailors led high school
girls in calisthenics, rebuilt lunch
benches and picked up trash on
Wednesday during their visit to
this two-island Caribbean
nation, officials said, according
to Associated Press.
The USS George Washing-
ton, a US aircraft carrier leading
a two-month deployment to the
Caribbean, arrived Sunday in
Antigua for a six-day visit. They,
planned to focus on humanitar-
ian projects, such as fixing up
schools and a cathedral, and no
exercises with the country's mil-
itary Were scheduled,.
He said they have met with
Antigua's military and law
enforcement officers.
Venezuelan President Hugo
Chavez, a fierce critic of Wash-
ington, has accused the US mil-
itary of trying to threaten the
South American nation with the
naval exercises. Cuban Presi-
dent Fidel Castro accusing the
United States of trying to intim-
idate his country.


New industrial agreement made,



between educators and college


UNION of Tertiary Educa-
tors of the Bahamas signed a
new industrial agreement with
the College of the Bahamas
yesterday that focuses on the
professional development of
its faculty as the college pre-
pares for its move to university
status.
With the signing of this new
agreement, according to Dr
Rhonda Chipman-Johnson,
there will be new expectations
o'f faculty members with
respect to research and schol-
arship.
In the new agreement, fac-
ulty members will receive an
average salary increase of 17.5
per cent and a lump sum of
$4000, payable over a three
year period for the first two
years of the agreement.
Additionally, among other
incentives, they will be afford-
ed more professional develop-
ment opportunities, including
study leaves, paid sabbaticals,
and stipends of up to $1200 for
academic conferences.
Addressing the group gath-
ered for the signing, Education,
Science, and. Technology Min-
ister Alfred Sears said that "the
signing of this agreement this
afternoon is the fulfilment of
a mandate that I was given by
the Prime Minister to evolve


the College of the Bahamas
into a university."
"The institution," Minister
Sears said, "would personify
and represent a centre of excel-
lence in our region, in terms of
excellence of the pedagogy of
teaching and excellence of ser-
vice in providing informed pub-
lic commentary on all issues
confronting our society."


The Minister added that the
college will provide and con-
stitute a repository of exper-
tise that would inform public
policy, as it will be made up of
intellectuals and scholars who
would engage in research to
illuminate the different social,
cultural, and political phenom-
ena in the Bahamas.
Joining Minister Sears at yes-


terday's signing, Prime Minis-
ter Perry Christie told the
group, "I expect that the pro-
fessors at the University of the
Bahamas would have a direct
impact, much more so than
before, in fact, an historic
impact on informing public pol-
icy. I see them as resource peo-
ple for this country."
"I believe when we look


i>y.


* FRANKLYN Wilson, chairman of the COB council, smiles with Jeniffer Issacs Dotson
yesterday day at a union signing at the the college book store
(Photo: Felipe Major/Tribune staff)


Virus which closed school



still unidentified by experts


* By MARK HUMES
THE district medical offi-
cer for Inagua and
Mayaguana Dr Modesto
Kapuno told The Tribune
that preliminary findings,
link the mysterious illness
at the Inagua All Age
School to an airborne viral
disease.
However, the exact
nature of the virus has yet to
be determined.
As of Wednesday,
according to Dr Kapuno,
there were 75 cases where
residents - mainly school
students - experienced a
variety of symptoms such as
sore throat, fever, abdomi-
nal discomfort, coughing
and vomiting.
Dr Kapuno said he has
already accumulated data
profiles of the cases and had
them sent to the surveil-
lance unit at the Depart-
ment of Public Health.
. A team from that depart-




EmOP"',


ment is scheduled to travel to
the island this week to carry out
further tests, but Dr Kapuno
said that the public has nothing
to be concerned about.
The All Age School with
remain closed today, giving
health teams time to have the
school properly cleaned and
sanitised before students return
on Monday.
Officials were forced to close
the school on \\ .: drn -di\y aftic
students were hit by thde'myste-
rious illness.
Initial reports indicated that
the illness first began among
students in the middle and high
school last week.
However, it was the serious-


ness of the outbreak at the pri-
mary school this week that
prompted school officials to act.
The Department of Public
Health issued a statement on
Wednesday acknowledging "an
increase in the number of cases
of acute respiratory infections
in school age children between
the ages of five and 17 years old
in Inagua."
It said that although the c . uec
had not yet been determined,
most acute i p, ., i infec
tions in this age group are "due
to viruses such as Influenza A
and B and Respiratory Synctial
Virus."
The statement added that
viral illnesses typically last for


Manager,

Human Resources
Bahamas & Caribbean

The successful candidate should possess the following
qualifications:
* University degree in Human Resource Management,
. Banking or Management (or a related field)
* At least 5 or more years of experience in Human Resources
in a Managerial Role. Banking experience would be an
asset
* Strong communications and interpersonal skills: including
coaching, counselling, writing, negotiating and conflict
management.
* Strong leadership (including change leadership) and
problem solving
* Strategy development & organizational skills
* Presentation/Training skills
* Microsoft Office skills (Word, Excel, Power Point)
* Significant travel required

Responsibilities include:
* Developing and executing strategic plans for the Human
Resource department to support Regional business
objectives fpr growth and'profitability
* Developing the Bank's Cash and non-cash Compensation
policies
* Leading Human Resources Departments for Bahamas,
Cayman Islands, Barbados & Eastern Caribbean Islands
(Total of eight countries)
* Championing the succession planning programme
* Responsible for developing and ensuring the execution
of the Regional Training Strategy
* Providing coaching to employees both individually and
in groups
* Developing and executing strategy for employee
relations/communication

A competitive compensation package (base salary & bonus)
commensurate with relevant experience and qualifications.

Please apply before May 26, 2006 to:

The Manager
Human Resources
Bahamas & Caribbean
Royal Bank of Canada
P.O. Box N-7549, Nassau, NP, Bahamas
Via fax: (242)328-7145
Via email: bahcayjp@rbc.com


about three to seven days.
The department .said that no
one in Inagua was consigned to
hospital, no deaths were report-
ed and that the majority of chil-
dren have recovered.
"A team of epidemiologists
and surveillance officers will be
sent to Inagua to assist with the
investigation.
Th- Mini ii. .fH..,ilth and
'Natihat- lns_.uij ce \\d! in-ues--"
ItLl U ii t uLIpd. ' .1- [ o'n a nc'w
'informatidn.iiinade aVaiilhble,"
the statement said.


back in history," said the Prime
Minister, "this will be a defining
moment in the history of this
country."
I Dr Rhonda Chipman-Johir,.
son told the faculty and UTEBM,41'
union members in the audience
that she looks forward to
greater productivity from them,
especially in the area of
research, and she looks for-
ward to their assistance in
building the University of the
Bahamas.




FRI., MAY 19

6:30 Bahamas @ Sunrise


11:00
12:00
12:05
1:00
1:30
2:00
3:00


- live
Immediate Response
ZNS News Update - live
Immediate Response
A Special Report
Gumbo TV
Carmen San Diego
International Fellowship
of Christian & Jews


3:30 Paul Morton
4:00 Dennis The Menace
4:30 Carmen San Diego
4:58 ZNS News Update
5:00 Treasure Attic
5:30 Cybernet
6:00 Caribbean Passport
6:30 News Night 13
7:00 Bahamas Tonight
8:00 Da' Down Home Show
9:00 The Envy Life
9:30 3 D' Funk Studio
10:00 Caribbean Newsline
10:30 News Night 13
11:00 The Bahamas Tonight
11:30 Immediate Response
1:30 Community Pg./1540AM

SAT. MAY 20
6:30 Community Page
9:00 Bahamas @ Sunrise
10:00 Underdog
'10:30 Dennis The Menace
'11:00 Carmen San Diego
11 - T.eriree Tu-'edo & His
Tales . ..... .


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OVER THE HEDGE NEW 1:00 2:50 4:40 6:30 8:25 10:30
POSEIDON T 1:10 2:35 N/A 6:10 8:35 10:55
JUST MY LUCK B 1:45 N/A 4:45 7:45 N/A 10:45
GOAL!! THE DREAM BEGINS A 1:30 N/A 4:30 7:30 N/A 10:40
MISSION IMPOSSIBLE 3 C 1:00 3:30 N/A 6:00 8:20 10:40
AN AMERICAN HAUNTING C 1:20 3:20 N/A 6:20 8:35 10:55
AKEELAH & THE BEE A 1:05 3:45 N/A 6:00 8:25 10:45
THE SENTINEL T 1:10 3:45 N/A 6:05 8:30 10:50
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SILENT HILL C N/A N/A N/A N/A 8:20 10:45

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THE DA VINCI CODE NEW 1:00 3:50 N/A N/A 7:00 10:00
OVER THE HEDGE NEW 1:15 3:25 N/A 6:00 8:20 10:15
POSEIDON T 1:30 3:35 N/A 6:20 8:35 10:40
MISSION IMPOSSIBLE 3 C 1:00 N/A 4:00 N/A 7:10 10:10
RV ' A 1:20 3:50 N/A 6:15 8:15 10:254 ,
AKEELAH &THE BEE A 1:25 3:45 N/A 6:05 8:25 10:30".
MI 0 ml~~ls I kK"1Mm


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. , , . - , _ . -


THE WEATHER REPORT


---. - -- ..-"~,4L 1-^ ^A ^ ;^ ^ 'a -,--_7


Q INSURANCE MANAGEMENT
(BAHAMAS) MLTOD. INSURANCE BROKERS & AGENTS


Sunny most of the Mainly clear. Partly sunny and Mostly cloudy, a Mostly cloudy with a Rather cloudy with a
day and warm. breezy. - shower possible. t-slorm or two. i-storm or two
High: 88� : High: 86� , High: 84� j High: 82�
Hi h: 880 Low: 72 Lo: 74 Low: 74 Low72 Low: 72

| 940 F 73' F 90"-76 F 94*-765 F 92'-72' F 88'-72� F I
The exclusive AccuWetnrer RealFeel Temperalure' is an index that combines the effects of emperaltue. wina humidity. sunpnine inimrnsity ouainess pre.piUtioni pr.fi'iure rid
elevation on rme human bodv-everytlhig that ettects how warm or cola a person leels Temperatures reflect he rnign and ihe low 101 me day


Statistics arW for Nassau through 2 p m. yeslerOly


4 WEST PALM BEACH
High: 85' F/29� C
Low:66' F/19� C


FT. LAUDERDALE
Hlgh:B'F/29C s
Low.69'FF/21C


.5 1~


MIAMI
High: 85 F/29 C
Low.6 7'F/P19" C


KEYWEST
i1h:838F/28*C
Law:70' F/21rC
q:


dr


Shown is today's weather. Temperatures are today's
highs and tonight's lows.



-. - ..: : , -; = .----" ;: - :- - .-. -:


High
F/C
89/31
60/15
81/27
69/20
68/20
63/17
55/1I2
84/28
B6/18
55/12
-94/34
.87/31
60/1I
85/2!
91/3:


Today
Low
F/C
61/16
44/6
62/16
I 49/9
D 48/8.
52/11
2 44/6.
8 64/17
8 46/7
2 45/7
4 69/20
0 56/13
5 44/6
9 71/21
2 68/20


Saturday
W High Low
F/C F/C
pc 90/32 59/15
pc 56/13 42/5
pc 83/286-5/18
pc 71/21 '46/7
t -'-72/22M ; 40/9.
r 66/18 50/10
o 8 4..42/5?
s 88/31 67/19
po- . 68/20" 48/8
sh 60/15 46/7
s 1 92/33 69/20
s. 84/28 50/10
pc 67/19 48/8
pc 85/29 72/22
S 91/32 68/20


FREEPORT
High:86'F/30*C
Low:.71'F/22* C
















ANDROS
High:88 F/31'C
Low.75*F/24'C


ABACO
High: 86� F/30* C
Low:74'F/236*C



4= =.


NASSAU
gh:.gr88F/31 C
Low.72 F/12*C




-9'


EIE TUT


Temperature
High ....... . . . . . . .... .. . 85 F,29 C
Low ..... ..... .......... . ... 70' F21 C
Normal high .............. 84" Fi29: C
Normal low ........... . . .... 71:F/22' C
Last year s nign ............. .. 82: F28 C
Last year's low .............. .....73' F/23 GG


LOW MOHDEAIE HIGH V HIGH
The higher the AccuWeather UV Index" number. Ti
greater the need lor eye and skin protection

...----.-X . .

High Ht.(tf.) Low HI.(
Today 1:00 a.m 2.8 7-23 a m. 0.2
1:29 pm 2.5 7:36 pm 0.,
Saturday 2.01 a.m. 2.7 819 a.m 0.
2:33 p.m. 2.6 8 45 p.m 0.2
Sunday 3.04 a m 26 9 15 a.m 0.
3:36 p.m. 2.7 9.54 p.m 0.;
Monday 4:06 a m 2.6 10.10 a m. 0..
4:37 p.m. 2.9 10"59 p.m 0
*- - -
*z^\?s;-;,f^*s.^aS.'sH5;:^/: 1


Precipitation Sunrise .... 624 a.m. Moonrise .... 1:10
As of 2 p m yesterday ....... ...... 1 0" Sunset .... 7:49 p.m Moonset . .. 12 16
Year to date ....................... .......... . 5 83' Last New First Fu
Normal year to date .............. ...... . 10 07"

AccuWeather.com ,
All forecasts and maps provided by S
ilA AccuWeather, Inc. �2006 May 20 May 27 Jum. 3 Jun.


iagh: 86F/3-C
Low T73F/23' C


CAT ISLAND
High:85F/29*C
LOawE69'F/21"C


GREATEXUMA
High:86F/30C
Low. 75'F/24C


-~ ~......
- - -. --.-. --.------.
- . - .7-..,,--


Today
High Low
F/C F/C
Indianapolis 67/19 48/8
Jacksonville 90/32 66/18

Las Vegas 98/36 76/24
Little Rock 91/32 66/18
Los Angeles- 76/24 60/15
Louisvlle -.-; -72/22 55/12
Memphis - 85/29 68/20
Miami -: ---8 5/29 70/2-1
Minneapolis 71/21 54/12
NahVlll. ll 2- 76/24 59/15
New Orleans 90/32 67/19
New York - 70/21 52/11
Oklahoma City 92/33 64/17
Orlando 90/32 66/18


Saturday
W High Low W
F/C F/C
pc 75/23 52/11 pc
s 92/33 64/17 s

s 95/35 69/20 s
s .90/32. 63/17 s
pc 73/22 56/13 pc
pc 79/26 60/15 6 pc
pc 88/31 68/20 pc
s 87/30 74/23. pc
pc 68/20 51/10 pc
t 81/27 63/17 pc
s 90/32 70/21 s
c 68/20 52/11 pc
s 93/33 66/18 pc
s 92/33 68/20 s


High
F/C
Philadelphia 67/19
Phoenix 103/39
Pittsburgh 56/13
Portlana. OR 75/23
Raleigh-Durham 82/27.
St. Louis 76/24
Salt Lke City 83/28
San Antonio 95/35
San Diego 7.. 10/21
San Francisco 64/17
Seattle 64/17
Tallahassee 90/32
Tampa " 88/31
Tucson 98/36
Washington, DC 68/20


Low W High
F/C F/C
50/10 t 71/21
78/25 s 101/38
45/7 sh - 64/17
52,11 c 70/21
54/12 pc 80/26.
60/15 t 82/27
64/17 pc 88/31
66/18 s 92/33
60/15. pc 69/20
53/11 c 68/20
50/10 pc 62/16
62/16 s 95/35
70/21 .-s 88/31
68/20 s 98/36
48/8 t 72/22


Saturday


Low W
F/C
52/11 pe
74/23 s
45/7 p9C
54/12 c
57113. pc.
60/15 pc
68/15 .
69/20 s
.60/15 pc
53/11 sh
50/10 shl
64/17 s
72/22 s
68/20 s
55/12. pc


' 7SAN SALVADOR
High:85*F/29'*C
Low:72'F/22"C




LONG ISLAN
High:85�F/29�C
Low-.74' F/23"C


MAYAGUANA
Hlgh:86'F/30'C
Low:.75'Fp4'C


CROOKED ISLAND/ACKLINS
RAGGEDISLAND High: 85' F/29' C
RAGGED ISLAND Low.740FarC
High:84'F/29C Lw4 2
Ldw.70*F21*C

GREATINAGUA
Hlgh:87'*F/31C
Law75'1F/24'C


- S.


WINDS WAVES VISIBILITY WATER TEMPS.
NASSAU Today: NNE at 6-12 Knots 1-2 Feet 6-7 Miles 80* F
Saturday: NE at 10-20 Knots 1-2 Feet 6-7 Miles 800 F
FREEPORT Today: VAR at 5-10 Knots 1-2 Feet 6-7 Miles 800 F
Saturday. ENE at 6-12 Knots 1-2 Feet 6-7 Miles 800 F
ABACO Today: VAR at 5-10 Knots 1-2 Feet 6-7 Miles 79' F
Saturday: ENE at 6-12 Knots 1-3 Feet 6-7 Miles 79* F


ORLANDO
Hlgh:O9'F/32 C
Low:64 F/18 C

TAMPA
High:88FF/31*C
Lo:66" F/19 C


i9dWrAm


Albuquerque
Anchorage
Atlanta
Atlantic City
Baltimore
Boston
Buffalo "
Charleston, SC
Chicago- .-
Cleveland
Dallas
Denver ,.
- N rolt
Honolulu
Houston


own :9 -1 a


Today Saturday
High Low W High Low W
F/C F/C F/C F/C
Acapulco 90/32 75/23 pc 88131 75/23 pc
E. Amsterdam 63/17 52/11 r 58/14 52/11 r
Ankara, Turkey '75/23 48/8 pc 80/26 52/11 s
he Athens 81/27 59/15 s 86/30 69/20 s
Auckland 63/17 48/8 s 61/16 50/10 pc
Bangkok 91/32 79/26 t 90/32 79/26 1
B Barbados 90/32 79126 pc 86/30 77/25 pc
S Barcelona 74/23 58/14 pc 68/20 61/16 s
Beijing 81/27 55/12 s 75/23 62/16 c
Lt.) Beirut 77/25 64'17 pc 72/22 63/17 sh
2 Belgrade 84/28 59/15 t 82/27 61/16 pc
3 Berlin 61/16 50/10 r 69/20 43/6 t
1 Bermuda 76/24 66/18 s 78/25 66/18 s
2 Bogota 64/17 50/10 pc 63/17 50/10 c
- Brussels 63/17 50/10 c 59/15 43/6 I
2 Budapest 70/21 50/10 c 75/23 59/15 pc
0 Buenos Aires 55/12 39/3 pc 54/12 39/3 s
1 Cairo 84/28 61/16 s 87/30 64/17 s
Calcutta 97/36 81/27 pc 101/38 83/28 pc
Calgary 74/23 43'6 pc 64/17 49/9 pc
: Cancun 88/31 72/22 pc 90/32 71/21 pc
Caracas 84/28 66/18 pc 84/28 64/17 pc
a m. Casablanca 81/27 59/15 s 77/25 65/18 s
p.m. Copenhagen 57/13 48.8 r 59/15 50/10 sh
l Dublin 57/13 48/8 c 55/12 43/6 r
Franriurl 63/17 48/8 pc 60/15 47/8 t
Geneva 66/18 54/12 pc 59/15 52/11 t
, Halifax 55/12 41/5 c 54/12 40/4 r
' Havana 84/28 63/17 s 85/29 72/22 pc
11 Helsinki 54/12 45/7 r 56/13 42/5 c
Hong Kong 86/30 75/23 s 84/28 75/23 s
Islamabad 99/37 79/26 s 110/43 79/26 s
Istanbul 73/22 55/12 s 80/26 67/19 pc
Jerusalem 75/23 61/16 s 67/19 51/10 s
Johannesburg 57/13 28/-2 c 44/6 31/0 c
Kingston 86/30 73/22 t 89/31 79/26 c
Uma 70/21 64/17 pc 73/22 63/17 pc
London 61/16 52/11 c 58/14 50/10 r
Madrid 82/27 50/10 s 81/27 54/12 s
Manila 93/33 79/26 c 91/32 79/26 pc
Mexico City 75/23 50/10 t 75/23 50/10 t
Monterrey 95/35 68/20 s 99/37 71/21 s
Montreal 55/12 48/8 r 57/13 44/6 sh
Moscow 66/18 46/7 pc 63/17 50/10 r
Munich 66/18 46/7 c 68/20 47/8 t
Nairobi 79/26 57/13 pc 78/25 57/13 c
New Delhi 107/41 82/27 s 105/40 81/27 s
Oslo 52/11 45/7 r 65/18 46/7 sh
Paris - 6317 46/7 pc 64/17 48/8 t
Prague 67/19 44/6 c 65/18 48/8 pc
Rio de Janeiro 75/23 65/18 s 78/25 68/20 pc
Riyadh 99/37 79/26 s 100/37 81/27 s
Rome 79/26 55/12 pc 76/24 56/13 pc
St. Thomas 87/30 79/26 s 87/30 78/25 pc
San Juan 61/16 33/0 pc 61/16 36/2 pr
San Salvador 88/31 72/22 t1 84/28 72/22 1
Santiago 68/20 46/7 pc 68/20 46/7 c
Santo Domingo 90/32 75/23 pc 84/28 71/21 pc
Sao Paulo- 69/20 55/12 pc 64/17 55/12 c
Seoul 70/21 54/12 pc 81/27 55/12 pc
Stockholm . - 57/13 45/7 pc 59/15 54/12 sh
Sydney 70/21 54/12 pc 68/20 55/12 pc
S, -Tapel 86/3W,_3/22 pc 89/31 75/23 s
: Tokyo 64/1_61/16 r 77/25 63/17 sh
Toroto- : 55/1$ /5 c 56/13 41/5 pc
Trinidad 83/28:1167/19 pc 81/27 59/15 c
S- bouver 65/18 52/11 pc 62/16 50/10 c
Vienna 64/17 48/8 c 67/19 49/9 pc
-' Warsaw 63/17 48/8 c 64/17 48/8 pc
Winnipeg , .. 69/20 41,5. s . 61/16 38.3 pc
Weather (W): s-sunny, pc-partly cloudy, c-cioudy, sh-showers, t-thunder-
storms, r-rain, sf-snow flurries, sn-snow, i-ice, Prep-precipitation, Tr-trace


--L:.


\H Miami
85/70
Fronts
Cold
Warm
Stationary


..Never start your




... .Auto Insurance,
art choice is

can trust.






CE BROKERS & AGENTS



.;.'.L, .


r UP-4-


F \ \ Showers
S T-storms
SRain
* ' Flumes
I* Snow
I Ice

*_. .


Shown are noon positions ol weather systems and
preciplanon. Temperature bans are highs lor the day
Forecast high/low temperatures are for selected cdtes.










PAGE 2B, FRIDAY, MAY 19, 2006 THE TRIBUNE I)


*5 .*,


Get creative when financing business


ing out as self-
employed or
business owner,
one of your biggest
challenges will be raising sufficient
capital to get your business off the
ground.
You will need to find some seed
money to demonstrate to your family
and friends, and other investors, that
you are worth investing in. This infu-
sion of money that turns your idea
into something tangible is known as
start-up financing.
Options
Tlke good news is that there are sev-
eral options available to you to get
yourbusiness venture going.
The first option is to start selling
yourfassets. Make a list of the things
you o'wn and work out a disposal
schedule. You may be surprised to






INSIGH
Fo hesore
beindhenes ,


find what you have. You may have
stocks and shares, jewellery, elec-
tronics, furniture, cars, motorcycles,
boats, timeshares and properties, all
of which can be used to finance your
business.
Then start selling your stuff. There
are many ways of doing this now.
With the power of the Internet, you
can e-mail a list of items to your
friends with one click of your finger.
Then try selling the remainder in a
jumble sale. You can also use Internet
auction sites, such as EBay, as a sur-
prisingly easy way to dispose of your
assets to the widest possible market.
Option two is to downsize your car.
Do you really need that big gas-guz-
zling car that is expensive to insure
and run? Consider selling it and get-
ting something smaller. If you own
your car, try to release more equity
by leasing a smaller car with a small
down payment, if possible. This cre-
ative form of financing will net more
money, although you will be left with
a monthly payment. This will also
show your prospective investors that
you are serious about your business
venture.
Option three is to collect your
debtors. If anyone owes you money,
this is the time now to practice your
accounts receivable function, a skill
that will prove helpful in your busi-
ness going forward.
Option four is to borrow against
your credit cards. For many entre-


Business

Sense



preneurs, this is a tried and tested
temporary way of raising money, but
it does carry risk. The advantage is'
that it is quick and easy to do. The dis-
advantage is that it is a very expensive
way of borrowing. Yes, you can often
make small monthly payments to car-
ry a lot of credit card debt, but the
repayment rates are high and this
should only really be seen as an inter-
im solution while you raise funds for
your venture. And, if things go well,
your business can quickly repay the
loans to reduce your credit card debts
to their earlier levels.
Borrow
Option five is to borrow against
your home. If you have equity in your
home, this is a tried and tested
method of releasing money for your
business venture. If you have a prop-
erty worth $300,000; and have an
existing mortgage of $100,000, you
can apply to have your mortgage
amount increased. This is a great way
of releasing funds, although you will
be left with a higher monthly mort-


gage payment going forwards.
Try to avoid a second mortgage, as
this will often attract a higher interest
rate. If your existing bank won't help,
then shop around and refinance with
another bank or mortgage company.
The market is very competitive and
you may even be able to increase your
mortgage and yet keep your payments
the same.
Whether it is a home equity loan or
a refinancing process, you should put
some of the money aside to meet your
monthly payments until your busi-
ness is able to pay you a sensible
salary. This process carries much risk,
as business failure could render your
homeless, so think carefully before
you Irv this option.
Option six is to borrow against your
Insurance Policy. If you have a whole
life policy, then you may be able to
borrow against the cash value of your
policy. The amount you can borrow
depends on the individual insurance
company, but some insurance com-
panies allow you to borrow amounts
up to 90 per cent.
So, write to your insurance compa-
ny requesting a loan. Loans are nor-
mally reasonable and may even be
cheaper than a bank loan. Make sure
you keep up with your monthly pay-
ments so that your. policy keeps cur-
rent. Also, take advice and find out
how this loan will affect your benefi-
ciaries if and when you die.
Option seven is to borrow against


your investments. If you have stodcs,.
and shares, you may be able to 'or-,,
row against them, or use them to'.,
secure a loan. But there are risks, lf
your stocks and.shares decline, you.,
may well have to put up more stocks,,
and shares, or margin to stop you
from defaulting on your agreement.
. Retirement

Option eight is to borrow against ...
your retirement plan. If you live in . ,
the US, then it will be possible to bor-,
row against your employer's 401(k),-,
retirement plan. If there is a similar:;
type of plan available at your place of i ,
work, check to see if you can borrow <.'
against it. As you can see, there are,':
several ways for you to come up with r:
seed money for your venture. Cre- "'
ative financing will show your poten-,'
tial investors that you are prepared to '
put your own assets on the line. So, in
order to avoid the trap of antipreneur-'
ship, make sure you spend time in
this area to help get your business of
the ground.
NB: Adapted from his upcoming
book, Antipreneurship And How to
Avoid It, Mark draws on 20 years of
top level business, marketing and
communications experience in Lon-
don and The Bahamas. He consults .
and currently lives in Nassau, and can N
be contacted at: markalex-
palmer@mac.com
� Mark Palmer. All rights reserved


citigroup
corporate and
investment banking
CITIBANK N.A., NASSAU, BAHAMAS BRANCH
Citigroup (NYSE;. C), the preeminent global financial services has some 200 million customers accounts
and does business in more than 100 countries, providing consumers, corporations; governments and
institutions with a broad range of financial products and services, including consumer banking and credit,
corporate and investment banking, insurance, securities brokerage, and asset management. Major brand
names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Diner's Club, Primerica,
Smith Barney, Banamex, and Travelers Life and Annuity.
We are currently accepting resumes for the following position:-

COMPLIANCE OFFICER/MANAGER

Knowledge/Skill Requirements:
* Extensive working knowledge of compliance policies and internal control procedures.
* Detailed understanding of Bahamas and US financial legislation.
* Minimum 3 years supervisory experience in compliance and/or internal control.
* Bachelors Degree with a concentration in Finance, Economics or Accounting. Certified
compliance audit or internal control credentials would be a plus.
* Superior analysis, communications (oral and written) and project management skills.
* Extensice working knowledge of PC applications (Microsoft Office) is required.

Duties:
* To assist in developing ensuring that an adequate compliance program exists which suitably covers
the risks associated \\ith all business acti cities, products and processes
* To assisting administering the compliance program through the disseminaton of any relevant training
programs or materials aimed at improving the Bank's compliance culture and'adherence to
regulatory requirements '
* To assist in developing procedures for. and periodically executing, independent in-depth testing of
the effectiveness of business' compliance with applicable local and US lawks, regulations
and policies.
* Implementing the regional information security program aimed at securing the confidentiallN.
integrity.and availability of all Citigroup business information
* Assisting in developing and implementing a local Anti-Fraud Plan \thich includes stafltrainnng


- - lay an active role in monitoring, containing and eradicating r
, as well as the status of correct e action plans and e.calatinga
* Verifyin that operational procedures and internal controls exis
provided by the bank, commensurate with level of inherent ris
independent testing.

*' Reporting to Senior Management on the adequacy and efficac
(accounting, operating and administrative).

Interested applicants may deliver, fax or e-mail resumes to:
'Business Head
SCitigroup Corporate and Investment Bank
4th Rr.', 110 Thompson Boulevard,
Nassau, The Bahamas
Fax: (242) 302-8569
.E-mail: tadesee.anja.mckenzie@citigroup.com

Resumes should be recieved by June 1. 2006
.I


reported and emerging control issues
any slippages to senior management
t for e% ery product and sern ice
sk through peroidic

y of the system of internal control






:.itiroup.J


Scotiabank's 'Forgive & Forget' Mortgage Campaign

To ctebreot att, Syear mn The iBabomm4Seite '
away $50,000 in prize

Oowpi ayw* ams kmwas 5% W ( oth ag Itnri

CaOpmg nnrumuntil JBIy1426

caN ir wt us da taid asi abgIato yn.s*.m a FaW


UlervWoi-u, Sa Iance hoih'


"In order to stay abreast
of what's happening in
the local economy, we
turn to The Tribune as
our source of information.
The Tribune is my
newspaper."

TROY SAMPSON
APPROVED LENDING SERVICES


READ THE

BUSINESS
SECTION
MONDAY TO FRIDAY


The Tribune

P*i~ I/w"0*jw^o'/


*ff.^U -titah.ii ...rt ....^a..-afar~a--ft^


TH E TR I B U E,


111-1.111,


PAG E 2B, FR I DAY, MAY. 19, 2006










FRIDAY, MAY 19, 2006


SECTION -.. -


business@tribunemedia.net


Miami Herald Business, Stocks, Analysis, Wall Street


FAMILY
GUARDIAN
Insurance & Investments
to Build a Better Life
Telephone 242-393-1023


'Seamless transition' for





winning City Markets bid


* By NEIL HARTNELL
Tribune Business Editor
T he all-Bahamian
investor group that yes-
terday saw its $54 mil-
lion acquisition of the
majority stake in
Bahamas Supermarkets approved by
a US Bankruptcy Court will not "do
anything dramatically different" with
the company's operations, The Tri-
bune was told last night, having
dropped the foreign component from
its bid.
Anwer Sunderji, chairman and
chief executive of Fidelity Merchant
Bank & Trust, which advised BSL
HOldings on the deal, said the all-
Bahamian investor group was "look-
ing forward to closing swiftly on this
transaction", which is likely to be the
biggest buyout ever for a commer-
cial, non-hotel business in this nation.
.With the sale of Winn-Dixie's 78
per cent stake in Bahamas Super-
markets now approved by the Bank-
ruptcy Court in Jacksonville, only reg-
ulatory approval for BSL Holdings


Government approval likely after removal of Neal & Massy

from $54m offer, but replacement required by BSL Holdings


from the Bahamian authorities
remains.
This has been made much simpler
by the removal of Neal & Massy
Holdings, the Trinidadian industrial
conglomerate that was the foreign
ownership component, from the BSL
Holdings bid team.
This has removed a potentially
tricky task for the Government,
namely having to approve an acquisi-
tion involving a foreign company in a
sector of the economy reserved for
100 per cent Bahamian ownership
under the National Investment Policy.
Now, BSL Holdings will only require
Exchange Control approval from the
Central Bank of the Bahamas,
The Tribune understands that Neal
& Massy was removed from the BSL
Holdings investor group due to Winn-


Dixie's concerns that the need to
obtain Bahamian government
approval might hold up the sale's
completion.
Winn-Dixie is in Chapter 11 bank-
ruptcy protection in the US, and the
grocery retailer and its competitors
will want to receive the $54 million
purchase price as rapidly as possible,
not have it held up in the Bahamian
government's approval process.
The removal of Neal & Massy will
create advantages as well as a down-
side for the BSL Holdings bid. The
absence of any foreign ownership
component has removed the final
trump card that was held by rival bid-
der, BK Foods, which was previously
able to portray itself as an all-Bahami-
an bid.
However, the loss of Neal & Massy


means that the BSL Holdings bid has
had to be restructured at short notice.
It is understood that the Trinidadian
firm was going to take a 40 per cent
stake in the bid, and their absence
means that BSL Holdings will have to
attract additional sources of Bahami-
an-based financing, either equity part-
ners, debt or a combination of the
two.
Meanwhile, Mr Sunderji said yes-
terday: "We are very pleased to have
advised the investor group and suc-
ceeded in acquiring City Markets at a
fair price, and are looking forward to
closing swiftly on the transaction.
"We expect the transition to be
seamless. We don't expect to see any
significant changes in the way the
company is operated and managed.
We're quite happy with this.


"There are no plans to do anything
dramatically different. Don't try to
fix what is not broken. It'll be business
as usual. There are no fundamental
changes that are likely to take place.
It's steady as she goes. Nothing is
going to change."
Although leading Abaco Markets
shareholders, including its chairman
and chief executive Craig Symonette,
Frank Crothers, and Franklyn But-
ler are among the investors in BSL
Holdings, The Tribune was told they
are several among many. Mr Symon-
ette was said not to be among the
principals.
The Tribune was the first to reveal
that Fidelity was advising and struc-

SEE page 5B


Bahamas can 'hold Central Bank bids to reduce exchange control red tape
our groun d over . By CARA BRENNEN relaxation measures, could receive blanket was in the process of completing i
Tribune Staff Reporter in specific cases grant- approval, for a longer the framework that would allow
ing approval for per- period. Bahamian c6ffipariesto-list; on.-7


* By CARA BRENNEN
Tribune Staff Reporter
THE Bahamas has the stan-
dards in place to accommodate
any Tax Information Exchange
Agreement (TIEA) that was
in its best interests to sign, the
Ministry of Finance's legal
adviser said yesterday.
Speaking at a BahamasInsti-
tute of Financial Services sem-
iriar, Rowena Bethel, who is
also the Compliance Commis-
, sion's executive commission-
er, said that the Bahamas had
the ability to " hold our
ground" in the face of further
requests for TIEAs from mem-
bers of the Organisation for,
Economic Co-Operation and
Development (OECD).
Ms Bethel said that in her
view, when it came to TIEAs,
the Bahamas stood head and
shoulders above other juris-
dictions.She also predicted that
the issue of TIEAs would not
go away, but would increase
in the future.
She said the Bahamas
remained on the right track, as
long as it continued to ensure


GRAND Bahama's already
depressed economy has been
further harmed by the Immi-
gration Department's new
approach towards work permits,
the Haitian-Bahamian Society's
, president has told The Tribune,
with companies losing key
employees, including some who
:have had up to 18 work permit
renewals.
Jetta J. Baptiste-Polynice said
she knew of one janitorial busi-
ness where five of its best
-'employees were deported. She
'added: "They have contracts
'they are no longer able to fulfill,
can't meet the clients' require-
Sments, so they'll go out of busi-
ness."
Ms Baptiste-Polynice said of
the impact on Grand Bahama's
economy: "We're at the bot-
-tom. No one is making any
money; A few businesses are
;trying to survive, and they're
having to go through this.
"Why is the Government
constantly trying to destroy the
few business establishments that
*


CSME
membership
might force
position change

there was appropriate aware-
ness in the industry.
Ms Bethel added that in
2002, the Bahamas signed a
provisional commitment to the
OCED's 'harmful tax prac-
tices' provided it created a 'lev-
el playing field'.
.She said that in the world of
tax information exchange, it
was very difficult to create a
standard on how things should
proceed.
Instead, she said it was real-
ly a bilateral issue, with the
exception of trading blocks
whose members would have
all agreed on a position.
Should the Bahamas sign on
to the Caribbean Single Mar-
ket Economy (CSME), Ms
Bethel added, the country
would have to .give serious
thought to its position.


are struggling to make it in an
already depressed economy of
Grand Bahama?"
The Tribune reported earlier
this week that Grand Bahama
businessmen and Port Authori-
ty licencees were complaining
that the Department of Immi-
gration's new approach to con-
sidering, granting and renewal
of work permits was causing
problems for their companies
and the wider economy.
Ms Baptiste-Polynice told
The Tribune that the new
approach was "creating a prob-
lem all around", with Immigra-
tion Officers allegedly picking
up workers employed as dish-
washer and cooks in Port
Lucaya restaurants, and doing
searches and raids on construc-
tion sites.
She added that the Immigra-
tion Department had yet to ful-
ly explain what its new policies
were, with different interpreta-

SEE page 4B


iTHE Central Bank of the
Bahamas has introduced a num-
ber of measures to eliminate the
red tape and paperwork asso-
ciated with the exchange con-
trol approvals process, its gov-
ernor said yesterday.
Acknowledging that the Cen-
tral Bank supports a general
phasing in of relaxed exchange
controls, Wendy Craigg told a
Bahamas Institute of Financial
Services seminar that it want-
ed to streamline certain proce-
dures to make the process more
efficient for both sides.
She said the,Central Bank
had introduced a number of


sons on worK permits
to receive a blanket
approval for the entire
duration of their per-
mit, allowing them to
send 50 per cent of
their income out of
the Bahamas to cover
normal commitment
expenses.
In other cases, Mrs


*WCR


Craigg said Bahamian
franchise holders could give the
Central Bank a projection of
their franchise fees for the year.
Rather than have to make sev-
eral applications to pay them
over short timeframes, they


In addition, the
Central Bank is work-
ing with the holders of
overseas loans to
ensure there is debt
servicing for approved
- loan commitments
once the proper docu-
ments are presented.
"We are trying to
AIGG get the process more
streamlined for us and
for them because, as you can
imagine, we are inundated with
paperwork," she said.
Ms Craigg also explained that
the Bahamas International
Securities Exchange (BISX)


CARICOUM stock exchanges,
equity equivalent to 10 per cent
of the issue amount, up to a val-
ue of $20 million.
Mrs Craigg explained that
this came as a result of a Capital
Market Study done two years
ago which, when completed,
recommended -that there be
stronger ties with CARICOM.
The framework is expected
to be completed by year end,
she added.
Mrs Craigg said that while the
Bahamas remained challenged
by the effects of globilasation,
the country's prospects seemed
quite encouraging.


on course

steady, focused

With 40 continuous years of insurance expertise,
stability and financial strength, we're proud to be
S: the choice of Bahamians setting sail on the sea of life.
S, - . .,, . With each new year, increasing numbers of individuals,
Sfamiliesand professionals are making Family GuardianP
-their preferred provider for:
w :_.1 . *, Life Insurance
SB _-.-.ri#Individual and Group Health Insurance
tSavings and Investments (Annuities)
.Residential and Commercial Mortgages
�Life's an adventure. We'll help you chart
.,your course for financial security.
Call or log on to www.familyguardian.com today!

















GUARDIAN
INSURANCE
COMPANY
/f S OFFICES: NASSAU, FREEPORT, ABACO & ELEUTHERA CORPORATE CENTRE: EAST BAY STREET, NASSAU P.O. BOX SS 6232


t h d
p gy p C
L AA L .ILC7


Grand Bahama firms

lose key employees


I






THE TRIBUINEE:


PAGE 8B, FRIDAY, MAY


Wall Street extends its losse


one day after inflation seae


range through most of the ses-
sion but took a sharp turn low-
er in the last hour of trading, a
reflection of how nervous the
market remained after the
Dow's 214-point dive Wednes-
day.
Economic
Even economic news that
showed a moderating econo-
my had little impact on trading,


[ NOTICE
I NOTICE is hereby given that ROSARIO AMELIA OJEDA
URIBE THOMPSON OF NASSAU, BAHAMAS, is applying
to the Minister responsible for Nationality and Citizenship,
for registration/naturalization as a citizen of The Bahamas,
and that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 19TH day of MAY, 2006 to the Minister responsible
;for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
iBahamas.



NOTICE
NOTICE is hereby given that LINDA MITCHELL OF 157 NE
68 TERR, MIAMI, FLORIDA, 33138 is applying to the Minister
responsible for Nationality and Citizenship, for
4registration/naturalization as a citizen of The Bahamas, and
,that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 19TH day of MAY, 2006 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
Bahamas.



NOTICE
,'NOTICE is hereby given that EROLD LA' CROIX OF ETHEL
STREET, NASSAU, BAHAMAS, is applying to the Minister
responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
i naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
I from the 19TH day of MAY, 2006 to the Minister responsible
Sor Nationality and Citizenship, P.O.Box N- 7147, Nassau,
Bahamas.



i NOTICE
;I NOTICE is hereby given that JULIE LOUIMEME, MARSH
. HARBOUR, ABACO, BAHAMAS, is applying to the Minister
responsible for Nationality and Citizenship, for
>i.registration/naturalization as a citizen of The Bahamas, and
' hat any person who knows any reason why registration/
' atL.ralization should not be granted, should send a written
Sand signed statement of the facts within twenty-eight days
O'from the 12TH day of JANUARY, 2006 to the Minister
, responsible for Nationality and Citizenship, RO.Box N- 7147,
;lassau. Bahamas.








Temple Christian 'Eementary Schfoolinvites
applications from qualified teachers for the
2006-2007 school year for:

Spanish Teacher (Grades 1-6)
.rt Teacher (Grades 1-6)

Applicant must:

A. Be a born-again practicing Christian
who is willing to subscribe to the
Statement of Faith Temple
Christian Schools.

B. Have an Associates and'or Bachelor's
Degree in Education from a recognized
College or University in the area
of specialization.

C. Have a valid Teacher's Certificate
or Diploma.

D. Be willing to contribute to the school's extra
curricular program.

Application must be made in writing with a full
Curriculum Vitae, a recent coloured photograph
and three references should be sent to:
The Principal
Temple Christian Schools
Collins Avenue
P.O. Box N-1566
Nassau, Bahamas


including an unexpected drop
in the Conference Board's
index of leading indicators and
an upswing in jobless claims.
The catalyst for the previous
day's frenzied selling was a
stronger-than-forecast jump in
consumer prices that ignited
concerns that the Federal
Reserve might keep boosting
interest rates.
"This market is just scared
right now," said Ryan Larson,


an equity trader at Voyageur
Asset Management. "People
are taking money off the table
and no bets are being made
because no one knows what to
do right now."
A fresh rise in oil prices
added to Wall Street's infla-
tion troubles and overshad-
owed a recovery in the bond
market and a stabilizing Unit-
ed States dollar after its recent
tumble against the Japanese


NOTICE
NOTICE is hereby given that GILBERT CHERIME OF EAST
STREET, P.O. Box SS-19950, NASSAU, BAHAMAS, is
applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a citizen of The
Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should
send a written and signed statement of the facts within
twenty-eight days from the 19TH day of MAY, 2006 to the
Minister responsible for Nationality and Citizenship, P.O.Box
N- 7147, Nassau, Bahamas.



NOTICE
NOTICE is hereby given that SUSANNE ROLE-TIEDEMANN OF
TEMPLETON BUILDING, LYFORD CAY, P.O. BOX N-7776-348,
NASSAU, BAHAMAS, is applying to the Minister responsible for,
Nationality and Citizenship, for registration/naturalization as a
citizen of The Bahamas, and that any person who knows any
reason why registration/ naturalization should not be granted,
should send a written and signed statement of the facts within
twenty-eight days from the 12TH day of MAY, 2006 to the Minister
responsible for Nationality and Citizenship, P.O.Box N- 7147,
Nassau, Bahamas.

LEGAL NOTICE


NOTICE

TOPSHAM LIMITED


Notice is hereby given that in accordance with Section 137(8)
of the international Business Companies Act 2000,the
dissolution of TOPSHAM LIMITED, has been completed;
a Certificate of Dissolution has been issued and the Company
has therefore been struck off the Register




ARGOSA CORP. INC.
Liquidator








Professional Office has an immediate Opening for
Secretary/Typist. The ideal candidate must have
an minimum of Three (3) Years Office experience
with excellent communications and Computer
Skills. The applicant must possess exceptional
telephone etiquette, good attitude and be i
capable of working independently and/or as a
team member; should have a minimum
typewriting skills of 50 wpm; and must be
proficent in the Windows XP or 2000
environment; particularly w/ software such as
Microsoft Word, Excel and Quickbooks.
Bahamians and/ or Bahamian Residents are invited to apply
Please Fax Resume to 394-4458
email: wwb@coralwave.com

LEGAL NOTICE

International Business Companies Act
(No. 45 of 2000)
LYNTHORPE HOLDINGS LIMITED
(In Voluntary Liquidation)
Notice is hereby given that in accordance with Section 137
(4) of the International Business Companies Act (No. 45 of
2000), LYNTHORPE HOLDINGS LIMITED, has been
dissolved and struck off of the Register according to the
Certificate of Dissolution issued by the Registrar
General on the 25th day of April, 2006.
Hamilton Management Services Limited,
Fiman House, La Houque du Valle,
Vale, Guernsey, GY3 5TE.
Liquidator
Yours sincerely,
MOSSACK FONSECA & CO. (BAHAMAS) LIMITED
Lauren Ramsay,
Corporate Administrator


yen.
According to preliminary
calculations, the Do"\ dropped
77.32, or 0.69 per cent. to
11,128.29. On Wednesday, the.
Dow had its worst session since
sinking 307 points on March


24,200 3 . . .: ,,
Broader stock indicators 416)
declined. The Stanidard"'&
Poor's 500 index lost 8.51.,or
0.67 per cent. to 1,261 81, ahd
the Nasdaq sank 15.48, or 8.7
per cent, to 2,180.32. ;


...-.. -


I


Leading Offshore Bank request applications for the'
position of an experienced securities specialist. :

The candidates must possess the.followinfgAc
qualifications and skills:

* Two years related mutual fund experience,
including cash settlements
* Strong emphasis inrtradde prbcessin and
settlements ..-

* Strong PC, organization skills

* Strong communication skills

Qualified applicants should fax or email resuimert:

Branch Manager Banking 2'
P.O. Box N-4906
Nassau, Bahamas'
Fax: 394-0701 , " !




COMMONWEALTH OF THE BAHAMAS: 2005/CLE/gen/(1227
IN THE SUPREME COURT


BETWEEN


MARY MICHELLE MAJOR
iJUDY ATHENE KEMP-HIGGS
: Plaintiffs
.. .... .. . AN D
I N LL. ,N


KAIVON ELDON


NOTICE


Defendants

-


To: Kaivon Eldon
Nassau, Bahamas


TAKE NOTICE that action has been commenced
against you in the Supreme Court of the
Commonwealth of The Bahamas Action NoQ
2005/CLE/gen/01227 by Mary Michelle Major
and Judy Athene Kemp-Higgs in which the
Plaintiffs' claim is for an Order that you remove
a building which encroaches on the Plaintiffs'
property, damages for trespass and costs.

AND that it has been ordered that service of the
Writ in the said action be effected by this
advertisement.

AND FURTHER TAKE NOTICE that you must
enter an Appearance in this action on or before
the 2nd June 2006 otherwise judgment may be
entered against you.

ALEXIOU, KNOWLES & CO. "
Attorneys for the Plaintiffs
Chambers
Frederick Street Steps
Nassau, Bahamas .


Vm By CHRISTOPHER
WANG
AP Business Writer
NEW YORK (AP) - Wall
Street extended its losses yes-
terday, a day after an inflation
scare sent the Dow Jones
.industrial average on its biggest
one-day drop in three years
;ind put the Nasdaq compos-
�. index in the red for 2006.
. Stocks drifted in a narrow


NOTICE
NOTICE is hereby given that THERESA GRAY OF TAYLOQR
STREET, P.O. Box N-3841, NASSAU, BAHAMAS, is applying
to the Minister responsible for Nationality and Citizenship,
for registration/naturalization as a citizen of The Bahamas,
and that any person who knows any reason why registratio'/i
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 19TH day of MAY, 2006 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
Bahamas. ;


NOTICE
NOTICE is hereby given that MONIQUE LA' CROIX QF
ETHEL STREET, NASSAU; BAHAMAS, is applying to th-
Minister responsible for Nationality and Citizenship, fQ0
registration/naturalization as a citizen of The Bahamas, arid
that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 19TH day of MAY, 2006 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
Bahamas. "


SEUIIESSPEILS


I.


SI


I


19,2006


I I
\


I

'I
t


I i








PAGE 6B, FRIDAY, MAY 19, 2006


THE TRISVy


Deloitte,
Deloitte & Touche
Chartered Accountants
and Management Consultants
2nd Terrace, Centrevllle
P.O. Box N-7120
Nassau, Bahamas
Tel: + 1 (242) 302-4800
Fax: +1 (242) 322-3101
http://www.deloItte.com.bs



INDEPENDENT AUDITORS' REPORT

To the Shareholders of
Metropolitan Bank (Bahamas) Limited:

We have audited the above balance sheet of Metropolitan Bank (Bahamas) Limited (the "Bank") aj
of December 31, 2005. This balance sheet is the responsibility of the Company's management. Oulk
responsibility is to express an opinion on this balance sheet based on our audit.

We conducted our audit in accordance with International Standards on Auditing. Those Standards
require that we plan and perform the audit to obtain reasonable assurance about whether the balance
sheet is free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the balance sheet. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the
overall balance sheet presentation. We believe that our audit provides a reasonable basis for our
opinion.

In our opinion, the balance sheet present fairly, in all material respects, the financial position of the
Company as of December 31, 2005, in accordance with International Financial Reporting Standards.





February 3, 2006

METROPOLITAN BANK (BAHAMAS) LIMITED

CONSOLIDATED STATEMENT OF INCOME
YEAR ENDED DECEMBER 31, 2005
(Expressed in Unithd States dollars),


2005
US$


ASSETS
Bank balances
Group companies (Note 10)
Others
Loans and advances to customers (Note 3)
Investments in securities (Note 4)
Investments in associated companies (Note 5)
Interest receivable and other assets
Fixed assets (Note 6)
TOTAL

LIABILITIES
Deposits from group companies (Note 13)
Deposits .of customers
Interest payable (Note 13)
Other payables and accrued liabilities
Total liabilities


1,417,929
15,895,978

15,992,494
13,143,645
168,635
9,338


2004
US$


435,791
2,571,702
1,280,183
12,993,409
12,482,471
201,550
5,145


46,628,019 29,970,251


25,170,323
95,687
17,575
25,283,585


SHAREHOLDERS' EQUITY:
Share capital (Note 7)
Retained earnings
Exchange translation reserve
Total shareholders' equity
TOTAL


2,048,021
8,314,621
31,778
39,095
10,433,515


5,000,000- 5,000,000
16,479,562 14,527,461
(135J128) 9,275S
21,344,44 "19,536,736-
46,628,019 29,970,251


See notes to balance sheet

These balance sheet were approved by the Board of Directors on February 3, 2006 and is signed on
its behalf by:


ANG TO M. VILL"ANUEVA
* Dirolor a




1. GENERAL

Metropolitan Bank (Bahamas) Limited (the "Bank") is a private limited company incorporated
in the Commonwealth of The Bahamas and is licensed under The Banks and Trust Companies
Regulation Act, 1965 (as amended) to carry on international banking business. The registered.
office of the Bank is located in Keswaal House, 7 Moseley Lane, P.O. Box CR-56766, Suite,
700, Nassau, The Bahamas. Its ultimate holding company is Metropolitan Bank & Trust
Company, incorporated in the Republic of the Philippines.

The Bank's books of account are maintained in US dollars, the currency in which the majority
of transactions and balances are denominated.


2. SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation - These financial statements have been. prepared in accordance with
International FinancialReporting Standards (IFRS). The preparation of financial statements in
conformity with IFRS requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at"
the date of the financial statements and the reported amounts of revenues and expenses during
the reporting periods. Actual results could differ from those estimates.

The significant accounting policies are as follows:

a. Loans and Advances to Customers - Loans and advances to customers are stated in the
balance sheet after deducting provisions for bad and doubtful debts.

Provision for bad and doubtful debts is made, having regard to both specific and general
risks.

The specific element of the provision relates to those loans and advances that have been
individually reviewed and specially identified as bad or doubtful. Factors which are
considered include expected cash flows, financial condition of borrower and current
economic conditions. The general element of the provision relates to those losses that,
although not yet specifically identified, are known for experience to be present in the
Bank's portfolio of loans and advances. In determining the level of provision required,,
management considers numerous factors including, but not limited to, domestic and
international economic conditions, the composition of the loan portfolio and prior loan
loss experience.

Provisions are applied to write-off loans and advances when all security has been
realized and further recoveries are considered unlikely.

b. Fixed Assets - Fixed assets are stated at cost less accumulated depreciation.
Depreciation is charged on a straight-line basis using the following annual rates:


Furniture and fixtures
.Leasehold improvements


c. Investments in Securities - Investments in securities are recognized on a trade-date basis
and are initially measured at cost.

Debt securities that the Bank has the expressed intention and ability to hold to maturity
are measured at amortized cost, less any impairment loss recognized to. reflect
irrecoverable amounts. The annual amortization of any discount or premium on the
acquisition of a held-to-maturity security is aggregated with other investment income
receivable over the term of the instrument so that the revenue recognized in each'period
represents a constant yield on the investment.


d. Investment in Associated Companies - An associated company is a company, other thanm
a subsidiary, in which the Bank is in a position to exercise significant influnc tougb
participation in the financial and operating policy decisions of the invest.ee r

The results and assets and liabilities of associates are incorporated in these financial
statements using the equity method of accounting. The carrying amount of such
investments is reduced to recognize any impairment in the value of individual
investments.

Where the Bank transacts with an associated company, unrealized profits and losses are
eliminated to the extent of the Bank's interest in the relevant associatewexcept, where
unrealized losses provide evidence of an impairment of the asset'traifi~e 'd.;" '

e. Impairment - At each balance sheet date, the Bank reviews the caryingamopnts of
long-term investments to determine whether there is any indication tihl those, assets have
suffered an impairment loss. If any such indication exists, thereqyerable an.tt of the
asset is estimated in order to determine the extent of the impairment loss (if.any). i

If the recoverable amount of an asset is estimated to be less than its carrying amount, the
carrying amount of the asset is reduced to its recoverable amount. Impairmentlosses are
recognized as an expense immediately. . :. , :. ;. .;.

Where an impairment loss subsequently reverses, the carrying amouni of the asset is
- increased to the revised estimate of its recoverable aiIint Rtit so6that the increased
carrying amount does not exceed.the carrying amount that would havetbeeWi defdinined
had no impairment loss been recognized for the asset. A reversal of ans impaiglowit loss
... . is recognized as income immediately.

Foreign currency translation - Transactions in currencies other than US dollars are
initially recorded at the rates of exchange prevailing on the dates of the transactions or at
the contracted settlement rate. Monetary assets and liabilities denominated in such
currencies are re-translated at the rates prevailing on the balance sheet date. Profits and
losses arising on exchange are dealt with in the statement of income.

The assets and liabilities of the Bank's overseas operations are translated at the exchange
rates prevailing on the balance sheet date. "Income and expenses are translated at the
average exchange rates for the year. Exchange differences arising are classified as equity
and transferred to the Bank's exchange translation reserve. Such translation differences
are recognized as income or as expense in the year in which the operation is disposed of.

The assets and liabilities of the Bank's overseas.operations are translated at the exchange
rates prevailing on the balance sheet date.

g. Derivative Financial Instruments - Derivative financial instruments are initially
recorded at cost and are measured at fair value at subsequent, reporting dates with
changes in fair value of derivative instruments recognized in the statement of income as
they arise.

h. Cash and Cash Equivalents - Cash and cash equivalents comprise cash, due from banks
and highly liquid securities with maturity of 3 months or less.

3. LOANS AND ADVANCES TO CUSTOMERS


2005
US$


Loans and advances to customers
Less: Allowances for probable loss


2004
US$


- (1,293,114
- (12,931)
- '1,280,183


4. INVESTMENTS IN SECURITIES

Investments in securities are comprised of:


2005 "' 2004
US$ a US$


Unlisted debt securities issued by governments
Unlisted debt securities issued by banks
v- ,RQ. P and other financial institutions ;'.r
Sp ' Unlisted debt securities issued by non financial institutions
Total securities

5. INVESTMENTS IN ASSOCIATED COMPANIES


Share of net assets as of January 1, 2005
Exchange translation adjustment
Share of profit
Disposal of shares
Share of net assets as of December 31, 2005


Name of Company
First Metro International
* . Investment Co., Ltd.

Golly Investment, Ltd.
' Fir t Metro International


500,000 3,500,000

,12,056,684,5 . 3,500,000
3.435,810 5,993,409
15,992,494 12,993,409



2005 2004
UUS$
12,482,471,: 11,183,977
(144,403) (16,149)
1,555,192 1,314,643
(749,615) -
13, 43645 2482,471


Place of , Class Of, HeldI
Incorporation Shares Heeld ,.Dic


Hong Kong Ordinary.' ,: . '6,74
Hong Kong. Ordinary * I" .
, . . ., , __. :' ql


Investment Nominees, Ltd. Hong Kong Ordi nary .-..4
"-, , ,) ' , . . . ' '

In February 2005, the Bank disposed a portion of the Bank's interest in associated companies.
The disposal was made; to a related party at book value. Accordingly, no gain or loss was
made on the disposal. After the disposal, the Bank's interest in associated companies was
reduced from 28.86% to 26.74%.
6. FIXED ASSETS


2005
USS US$ US$ USS
Beginning Ending
Balance Additions Disposals Balance


COST:
Furniture and fixtures
Leasehold improvements


3,583 4,364
1,709 1,873


7,947
3,582


5,292 6,237 -


2005


US$. us$ uss 'usS ,*
Beginning Depreciation Ending
Balance for the year Disposals .alance
-.iA


ACCUMULATED DEPRECIATION:
Furniture and fixtures
Leasehold improvements


2005 Net movement
2004 Net movement

7. SHARE CAPITAL



Authorised:
10,000,000 ordinary shares of$ 1.00 each
Issued and fully paid: .
5,000,000 ordinary shares of $1.00 each


47
100


850.
1,194


147 2,044 2191
5,145 4,193 38
5,292 (147 45


2005 2004
USS $



�.,
10,000,000 ,10 ,0


5,000,000 5,000,0(


Y,



,4.
i *


I.


:,.. ::'
, -_L_









E Clement -FR. M IB


Bethel National


Arts Festival '


adjudication


M ABOVE: SNUG COR-
NER, Acklins - Snug Corner
Primary School students
singing at the adjudication.
* LEFT: Acklins resident
Ms Portia Cox telling the
story of the Cascarillaplant.
M RIGHT: Lovely Bay
Primary School student
Ashley Williams dancing.
(BIS photos: Eric Rose)


mlY FRIEnDs RAln I WOULD LIKE TO IfTRODUCE YOU TO R lEW GRmlE.


J( . - "f


yr ,1


Hello, I'm Allen St:anford. This summer, along
with t hse legends of West Indies cricket, I' be
i~tvroducing a new evolution of cricket to the people
' of the Caribbean - Stanford 20/20 Cricket. It's a
faster, more exciting form of the game featuring never-
before-seen match-ups between the great countries
of the West Indies. So get ready to watch and see
for yourself how the ga-me we all love has evolved.


1�464qAgVwI 9?J6I64k
OFFt~lL RIRL~nms OF THU STRflFORO 20.20 TOURn~mvnT


'~


~,j.


THE TRIBUNE


PAGE 16, FRIDAY, MAY 19,2006


.1 link -10,










AGE 4, FRIDA, MAY 19, 2006 THE TRI TOTHBU


The Tribune Limited
NULLIUS ADDICTS JURARE IN VFR BA M a CTpT
Being Bound to Swear to The Dogma:s 3fN Mtec

LEONE. H. DUPUCH, Publisher/Editor 1903-1914

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

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

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


A glimmer of hope on US immigration*


PRESIDENT BUSH slipped just enough
humanity into his national immigration
address to show this is one issue he sees with
complexity. After saying he will send the
National Guard to the borders and build new
fences and walls, he acknowledged that mil-
lions of people are in the US to stay and mil-
lions are still going to try to come to the US
to stay.
In calling for a temporary worker pro-
gramme, he talked about people who "walk
across miles of desert in the summer heat or
hide in the back of 18-wheelers to reach our
country." He said "America is a more hope-
ful country" because of the work and sacrifice
of immigrant parents. He repeated the story
of Guadalupe Denogean.
Denogean rose from being a crop-pick-
ing son of a Mexican migrant guest-worker
family and from being a high-school dropout
to a 26-year career as a US soldier without
American citizenship.
His career ended with serious injuries in
.. Iraq. Moved by his story, the president and
Laura Bush went to the hospital to witness his
oath of citizenship. "Our new immigrants are
just what they've always been," President
Bush said, "people willing to risk everything
for the dream of freedom."
If Bush wants to push the human side of
immigration more properly, he can add some
things the next time. In the address, he
harped on the real or perceived negatives of
illegal immigration. "Illegal immigration puts
pressure on public schools and hospitals,"
the president said. "It strains state and local
budgets and brings crime to our communi-
ties." He said nothing about benefits.
' President Bush left the evidence under-
neath his own Oval Office desk. He could
have used his own 2005 Economic Report
of the President. That report found that 58
per cent of America's total employment
growth of 11 million workers between 1996
and 2003 came from the ranks of the foreign
born. Immigrants accounted for 84 per cent of
employment growth from 1996 to 2003 in
Indiana, Illinois, Michigan, Ohio, and Wis-
consin.
In talking about the massive drop of US-
born operators, fabricators, and labourers
and the massive rise of foreign-born workers
in those jobs since 1996, the report said, "This
should not be taken as evidence that the for-
eign-born displace native workers; rather, it
reflects the fact that immigrants have made


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up all of the growth in the low- skilled work-
force. As education levels rise among younger
US workers and older,US workers retire, the
number of low-skilled natives is declining."
The report said economic studies typically
find that "immigration has little effect on
native wages." It said, "Immigrant workers
range from the seasonal agricultural labour-
er to the Nobel-prize-winning scientist. They
are the doctors and nurses who serve inner
cities and rural areas, the professors who
teach in our universities, and the taxi drivers
and hotel workers that travellers rely upon.
Immigrants also fill jobs that simply allow
Americans to go to work every day, such as
housekeeping and child care."
Even taking into consideration the strain
that undocumented families place on public
schools and healthcare, the report said, "The
work ethic of US immigrants bolsters their
economic contributions. Summing up the
economic benefits and costs of immigration
shows that over time, the benefits of immi-
gration exceed the costs."
One example of the benefits is in a recent
study of Latinos in North Carolina by busi-
ness professors at the University of North
Carolina. Nearly half of the state's 600,000
Latinos are undocumented. On the bare sur-
face, the costs might seem to exceed the ben-
efits. Latinos annually pay $756 million in
taxes but cost $817 million in education,
healthcare, and corrections.
But the study also found that Latinos had
a total direct and indirect spending impact of
$9.2 billion in the state. The study said that
without Latino labour, "the output of the
state's construction industry would likely be
considerably lower and the state's total pri-
vate sector wage bill as much as $1;9 billion;
higher. Some of these labour-cost savings
keep North Carolina's businesses competitive
while others are passed on in the form of
lower prices to North Carolina consumers."
In his address, President Bush said, "Amer-
ica needs to conduct this debate on immi-
gration in a reasoned and respectful tone." If
the president has the courage to say to the
nation that the benefits exceed the costs, this
could. be a glimmer in a gloomy presidency, a
critical issue where he actually came down on
the side of reason.
(This article was written by Derrick Z.
Jackson of the Globe Staff- c. 2006 The
Boston Globe).


Cuba's election to the




Human Rights Council


EDITOR, The Tribune.
THE announcement that
Cuba's election to the United
Nations Human Rights Council
was an "important victory" by
Cuban Ambassador Felix Wil-
son Hernandez is certainly no
occasion to celebrate. In fact, to
the contrary as Cuba tries to
legitimise its history of blatant
human rights abuses and breach-
es of most of the provisions of
the United Nations Universal
Declaration of Human Rights.
Under his own admission,
Ambassador Wilson Hernandez
has confirmed the oppression of
his own people by the Cuban
government. The restriction on
travelling abroad by Cuban citi-
zens is reminiscent of the days of
the "Iron Curtain", that razor
sharp electrified barbed wire
with automatic machine guns
and killer attack dogs which had
descended Across Europe for
almost nine hundred miles dur-
ing the Cold War. Unlike most
fortresses that are built to keep
invaders out, the Iron Curtain
like Cuba's policy on Cubans
travelling outside Cuba was built
to keep its citizens in.
With no opposition, the mass-
es are subjected to the directives
of the government whose poli-
cies may contradict common
decency, observance of human
rights and due process or sim-
ply just ignore the Rule of Law
without any accountability. Any
individual expression or con-
trasting point of view could be
perceived as a challenge or a
threat. Consequently, it is simply
just not tolerated. Such individ-
uals are labelled as "enemies"
of the state or as in the case of
Cuba, "agents of the United
States!"
For their outspokenness, these
individuals all too often are con-
demned to serve lengthy prison
sentences in detention centres
that have not been inspected by
any credible international regu-
latory agency in almost 50 years.
Ambassador Wilson Hernan-
dez is quick to boast about the
progress of the Cuban society.
His measurement of progress
deals with improvements in edu-
cation, healthcare, social, etc, but
mentions nothing about the
quality of life. Progress has come
to Cuba, but at what cost? Does
the end justify the means? The
state of desperation of the
Cuban people is played out
almost on a daily basis in the
Gulf Stream. Any chance to get
out of Cuba, no matter how
remote the chance of success is
worth the risk even if it means
paying the ultimate price with
their lives. When you have noth-
ing, you have nothing to lose
attitude. Bahamians may never
understand the act that would
drive a mother to put her child
on a rubber tube in the middle
of the ocean in the hope that he
will land in America, as did the
mother of Elian Gonzales! Or,
the individuals who were exe-
cuted for trying to hijack a boat


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to Florida, even though no
hostage was hurt or killed! Yet,
Ambassador Wilson Hernandez
has the gall to expect the
Bahamian people to understand
Cuba's position on human rights.
Man, he must be "loco"!
How can Cuba understand the
concept of freedom of expres-
sion when there is only one
radio/TV station in the whole
country that is completely con-
trolled and censored by the
Cuban government? In addition,
Cuba "jams" or blocks out other
radio stations just so that the
Cuban people cannot hear
another side of a story. A recent
government organised demon-
stration protested some of the
Articles of the Universal Dec-
laration of Human Rights posted
on the wall of the United States
Interest Office in Havana.
Rather than protesting these
Articles, if Cuba was serious
about human rights, shouldn't
they be trying to promote them?
Have you ever noticed that the
only demonstrations permitted
in Cuba are the ones that sup-
port government's policy?
The Bahamas being a nation
with "Christian values" found-
ed on the principles of democ-
racy for its part should be lead-
ing the charge to ensure that the
Articles of the Declaration is
practised in whatever country it
does business with. It was insult-
ing to any decent Bahamian
when prior to the vote, Ambas-
sador Wilson Hernandez indi-
cated based on the "sucker"
move in the form of education,
healthcare, social services, etc,
that he expected the Bahamas
to support Cuba in its quest to be
appointed to the Council.
The fact that Ambassador
Wilson Hernandez made such a
public statement on this matter,
the government of the Bahamas
should have stated its position.
However, according to press
reports, instead of a public
response, the. Cabinet of the
Bahamas took a behind closed
doors vote on the matter as the
vote at~the United Nations was
also secret. With such wide-
spread speculation that the
Bahamas had in fact voted in
favour of Cuba, the Bahamian
Government led by Prime Min-
ister Perry Christie had promised
the Bahamian people "trans-
parency and accountability" in
government has remained mys-
teriously silent on this issue.
Many persons have also
expressed disappointment with
Foreign Minister Fred Mitchell.
Minister Mitchell has had a long
history of being involved in
human rights. This writer has
stood shoulder-to- shoulder on
many occasions, especially when
the question of fundamental
rights arose. By supporting


Cuba, is it reasonable to assume
that Minister Mitchell has aban-
doned his commitment to
human rights? Indeed, it was
Minister Mitchell who a few
years ago was so appalled by the
state of Cuban prisons that it
was due to his personal initial,
iic . that the prisoner exchange
programme where prisoners
serve the rest of their sentence in
their own country was created.
Former Cuban prisoners have
indicated that despite the bad
reputation of Fox Hill Prison, i
Nassau, it was an upgrade when
compared to those in Cuba. ," -
Even more disappointing has
been the lack of a public state-
ment by the Bahamas Christian
Council. Maybe they are just too
busy dealing with personal crisis
among their members or looking
at their collection plates. They
had so much to say about moral-
ity when the "sissy" ships came,
but with a need for internati6n-
al morality, the church is not
speaking out. With the tradition
of religious oppression in Cuba;
this should have been a "no
brainer"!
Cuba's attitude towards the
United States is like the stdry
out of that old colonial school-
book series, The Royal Reader.
A student was accused by -thd
teacher of not keeping his eyes
on his book. The student imme-
diately retorted that another stu-
dent was not keeping his eyes
on his book. The Teacher
replied: "How do you know that
the other student's eyes were not
on his book if you had your eyes
on yours"? Whenever Cuba is
accused of a possible breach, of
the Declaration, its immediate
reaction is to justify its actions-iy
attacking possible breaches by
the United States. Cuba doesn't
understand that two wiongs; do
not make a right. .
Finally, a decent world would
have no difficulty having Cuba
on the Council if there were indi-
cations that Cuba was striving
to implement the ideals of the
Declaration. Regrettably, Cuba's
behaviour has been most dis-
couraging and human rights con-
tinue to be an illusion and a farce
in Cuba. Much of its support
may have come from third world
countries that were taken advan-
tage of with assistance of edu-
cation, healthcare, etc. Under
this wicked scheme, these unfor-
tunate countries, like the
Bahamas were coerced to sup-
port Cuba. Now genocide, tor-
ture, abuse of women and chil-
dren, etc in countries such as
Sudan, North Korea, Zimbab-
we may go unchecked, because
with Cuba on the Council, it can-
not throw stones as Cuba is a
human rights glass house,.


DR LEATENDORE
PERCENTIE DDS
Boston,
Massachusetts,
May 15, 2006.


ifirgt Tgaptist C(jurcbh
289 Market St. South � P.O. Box N-7984 * Nassau, Bahamas

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Fax: 326-4488/394-4819


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Tel: 328-6129 * Fax: 326-7842


THE TRIBUNE,


PAGE 4, FRIDAY, MAY 19,2006
1 1


I


I




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#1 PAPER IN CIRCULATION
— Che Miami Herald:



BAHAMAS EDITION





‘Volume: 102 No.148






@ By NATARIO McKENZIE

POLICE admit that the addi-
tion of the country’s two most
recent homicides has raised con-
cern. However, with the signifi-
cant leads they now have in the
cases they are confident they will
be able to bring closure to their
investigations very soon.

Two men died yesterday of
injuries suffered in separate inci-
dents that occurred less than six
hours apart.

Yesterday police declined to
speculate on the motives for the
murders but noted that they
were following significant leads
into the matters.

Police say they have an indi-
vidual in custody who is assisting
them in their investigations into
Thursday’s first homicide.

Omeleo Griffith, 21, a resident
of Yellow Elder Gardens, died
from a stab wound sustained in
an altercation with a male rela-
tive early yesterday morning.
Police say that around 9 am yes-
terday Griffith and the relative
were involved in an argument at
Graham Drive Yellow Elder

Gardens. Griffith was stabbed in -

the chest.

He was taken to the hospital
where he later died.

The second homicide occurred
at the Pond Wash laundromat,
located near Barcardi Road,
sometime after 1 pm yesterday.
Chief Superintendent of Police
Marvin Dames told The Tribune
yesterday that 23-year-old Eric
Mcgregor of Bacardi Road was
shot as he was about to enter the
laundromat. Mr Dames said that
as Mcgregor neared the entrance
to the building he was
approached by a gunman who
had just got out of a light
coloured Suburban. The man




































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and ne in
separate incidents



reportedly shot Mcgregor in the
upper part of his body before
getting back into the vehicle and
fleeing the scene. According to
Mr Dames, Mcgregor mustered
enough strength to make his way
into the laundromat where he
collapsed and died.

“We are following a number
of leads in connection with this
matter and are confident that we
will be in a position to identify
the ‘perpetrator of this heinous
act very soon,” Mr Dames said.

“One obviously has to be con-
cerned with the manner in which
persons involved in acts such as
these are carrying them out,” Mr
Dames said. “We have been
extremely successful in bringing
such matters to closure and we
are certainly on the right track
with these latest two,” Mr
Dames said.

Mr Dames noted that to date
the police have completed their
investigations into most of the
homicides this year. Noting that
there haye so far this year been
21 homicides in the Bahamas,
Mr Dames told The Tribune yes-
terday, “We still have one matter
that is outstanding for New Proy-
idence, (the death of Angelo
Strachan) that we are currently
following some leads into and
that means that our detection
rate is well above average com-
pared to any other country.”

Confident that the police will
soon be able to wrap up their
investigations into the country’s

two latest homicides, Mr Dames.

said: “We are now beginning to
pick up some significant leads in
our investigations into the death
of Angelo Strachan and if we are
able to close that investigation
we would then have one out-
standing matter for Grand
Bahama”.

FRIDAY MAY, 19, 2006



PRICE — 75¢



Tuy let
arene lh



M@ THE body of 2syéanokt Eric Mcgregor.is removed from inside the Pond Wash laundromat (which is located near Bacardi Road)
and placed inside a hearse. Mcgregor reportedly died after sustaining a gunshot wound to his upper body.
eee. by Felipe Major/Tribune staff)

Haitian-Bahamian |

speaks out against
newly implemented |
immigration policy
@ By DENISE MAYCOCK

and is demanding that “illegal”

immediately.

tance in dealing with the matter.

SEE page nine

_ Hubert Ingraham _ Govt discussing ‘Luxury’ vehicles

hears Guana Cay |

: residents’ concerns

on development

Mr Ingraham said meetings

SEE page nine

possibility of

exchanging land _

at Bozine Town

: ml By RUPERT MISSICK Jr
FNM Leader Hubert Ingraham

FREEPORT - A Haitian- and his parliamentary team met i
Bahamian business professional : ge resco uts of en oo
is criticising the PLP’s newly : h ‘dee 1 Un a as well as wit
implemented immigration policy : the developers of the Bakers Bay

: project, to ascertain the scope of
i the residents’ environmental con-

acts against Haitians discontinue :
: cerns, and to relay the same to

Businesswoman and human PhS piolecus mevelUpels,

rights activist Jetta Baptiste said if :
the Immigration Department con- held demonstrated that most of

tinues to arbitrarily arrest chil- :

Chief Reporter

GOVERNMENT is discussing : men, religious leaders, doctors,

: with the principals of LANDCO : and their wives, have had their.
i the possibility of exchanging the : “luxury” vehicles confiscated by
: land at Bozine Town and : Customs officials.
: Knowles Drive for government :

: owned property, Agriculture :
: Ministee al MP for the area : reports that this operation is a
: Leslie Miller told The Tribune ; Continuing one that began on

¢ : yesterday.
the residents’ concerns can be sat- :

dreitand other innocent Haitians®! isfactorily resolved. He also said

in the community they will be : cree velepets Tee fered bores
j : -,_ : make available their Environ- :

forced to seek international assis t mental Management Plan (EMP)

“So far we have refrained from and the project’s full pe ;
protesting, bringing international : en aad See ee
media attention, calling for eco- : OTP UD ILEAL CN LEM aD li i
nomic boycotts and sanctions | review the possibility of settling ;
against the Bahamas, but don’t -} for a lesser acreage of land than
believe one minute that these | they were previously granted by
measures will not be taken if we : the present government.

“T have spoken to (the devel-
opers) and they are not adverse to
it. In fact they want to sit and talk

: and try to work out something.
: They don’t want to displace any- :
: one, they want an amicable reso-

SEE page nine

confiscated by.

Customs officials

| MBy PAUL TURNQUEST -

Tribune Staff Reporter
A NUMBER of business-

Comptroller John Rolle

: Mother’s Day where officials
: ” Mr Miller once again gave his : ae seizing the vehicles because
: assurances that no one will be dis- : they had been undervalued on
: placed in Bozine Town. :
The minister was expected to :
: convey this message to his con- :
i stituency at a meeting last night.

: their Customs forms by an auto

dealer in New Providence.
During the gathering of this

: information a number of high-
: profile names have been called,
: whose Jaguars, Mercedes, Jeeps
: and other vehicles were confis-
? cated. However, Mr Rolle said
: that, as the operation is still con-
: tinuing, he is unable to confirm

SEE page nine
PAGE 2, FRIDAY, MAY 19, 2006

THE TRIBUNE



PM’s trip to Chapter One

me

m@ By KARIN HERIG





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~_

Tribune Staff Reporter

THE completion of the New





q

ours the new book store at the College of the Bahamas

(Photo: Felipé Major/Tribune staff) .

Providence Road Improvement
Project has hit a major snag — as
contractors have failed to sub-
mit bids to the Ministry of
Works.

Making this announcement
in the House of Assembly, Min-
ister of Works and Public Util-
ities Bradley Roberts explained
that despite a prolonged peri-
od of advertising contracts for
two sections of Nassau roads,
his ministry failed to receive a
single bid.

“The disappointing outcome
of our efforts in getting this
New Providence Road
Improvement Project (NPRIP)
going again has been frustrat-
ing to my ministry as well as the
public who have not realised
the benefits of an increased
road capacity on the island of
New Providence,” he said.

Discussions

In order a resolve the prob-
lem, the minister said that his
technical staff has begun pre-
liminary discussions with the
Inter-American Bank (IDB) on

_ the Bahamas’ loan agreement.

He said a decision was
reached to proceed on the basis
of limited bidding.

“The limited bidding process
permits issuance of the bid doc-
uments to at least three or more
international applicants and
what I have six in mind who are
interested to submit a bid ona
post-qualification basis,” he
said.

Ministry receives
no bids for New |
Providence road

improvement

Mr Roberts said that he antic-;

ipates that the bid documents

will be issued to the shortlisted-, »

bidders by July or August this. « ~

ws

year. i

The contractors will be bid-
ding on contracts of “slice one
and two” of the New Provi-
dence Road Improvement Pro-
ject.

Slice one includes the reha-
bilitation, improvement and
expansion of Baillou Hill Road
from Independence Highway to
Carmichael Road, as well as the
corridor starting at Baillou Hill
Road stretching from Robinson
Road to Duke Street.

Also included in slice one is
the corridor from Market Street

along Robinson Road to Duke ,

Street.

&

East Street from Soldier

Road to Robinson Road, West
Bay Street — including the road
alignment at Saunders Beach —
and John F Kennedy Drive
from Farrington Road to Bethel
Avenue, are also encompassed
by slice one.

Slice two of the road project,

includes the improvement and

expansion of Robinson Road:, .

from Baillou Hill Road to Clar-

idge Road; Prince Charles Dri-,. , 5

ve from Marathon Road to Fox

Hill Road; Marathon Road,, 5"

from Robinson Road to
Wulff Road; Wulff Road,,
from Marathon Road to

Bernard/Village Road; and *
from Claridge Road to.‘*

Marathon Road.

The contracts were advertised, »°

both locally and internationally.

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THE TRIBUNE

FRIDAY, MAY 19, 2006, PAGE 3 . .



eo oe eee ee
0 In brief New in



Search is

suspended
‘for missing
passenger

BAHAMIAN and US rescue
teams have suspended their
search for the man who disap-
peared off a Royal Caribbean
cruise ship on Monday.

Investigators who have
reviewed the surveillance tapes
installed on the Mariner of the
Seas cruise ship have deter-
mined that Daniel DiPiero, 21,
of Canfield, Ohio, fell over-
board after a night of heavy
drinking with friends.

Interviews with DiPiero’s
friends revealed that the group
had concealed liquor in mouth-
wash bottles and brought a bot-
tle of rum in their luggage.

The friends videotaped them-
selves drinking the alcohol on
Sunday afternoon, and DiPiero
continued drinking until mid-
night, investigators said.

Friends of DiPiero last saw
him on the ship’s deck around
midnight on Sunday.

About two hours later — at
2.30am on Monday — shipboard
security cameras show DiPiero
falling overboard from a rail
near the front of the ship, inves-
tigators said.

DiPiero was first reported
missing Monday morning when
his friends realised he had not
slept in the cabin they shared.

Aircraft and vessels from the
US Coast Guard and the
Freeport’s BASRA office
searched 900 square miles of
ocean between Grand Bahama
and Coco Cay to no avail.

US sailors
repair
schools in
Antigua

@ ANTIGUA
St John’s

US sailors led high school

girls in calisthenics, rebuilt lunch -

benches and picked up trash on
Wednesday during their visit to
this two-island Caribbean
nation, officials said, according
to Associated Press.

The USS George Washing-
ton, a US aircraft carrier leading

>
>

- between educators and college |

UNION of Tertiary Educa-

tors of the Bahamas signed a
new industrial agreement with
the College of the Bahamas
yesterday that focuses on the
professional development of
its faculty as the college pre-
pares for its move to university
status. ‘
_ With the signing of this new
agreement, according to Dr
Rhonda Chipman-Johnson,
there will be new expectations
of faculty members with
respect to research and schol-
arship.

In the new agreement, fac-
ulty members will receive an
average salary increase of 17.5
per cent and a lump sum of
$4000, payable over a three
year period for the first two
years of the agreement.

Additionally, among other
incentives, they will be afford-
ed more professional develop-
ment opportunities, including
study leaves, paid sabbaticals,
and stipends of up to $1200 for
academic conferences.

Addressing the group gath-
ered for the signing, Education,
Science, and Technology Min-
ister Alfred Sears said that “the
signing of this agreement this

afternoon is the fulfilment of -

a mandate that I was given by
the Prime Minister to evolve

the College of the Bahamas
into a university.”

“The institution,” Minister
Sears said, “would personify
and represent a centre of excel-
lence in our region, in terms of
excellence of the pedagogy of
teaching and excellence of ser-
vice in providing informed pub-
lic commentary on all issues
confronting our society.”

The Minister added that the
college will provide and con-
stitute a repository of exper-
tise that would inform public
policy, as it will be made up of
intellectuals and scholars who
would engage in research to
illuminate the different social,
cultural, and political phenom-
ena in the Bahamas.

Joining Minister Sears at yes-





MFRA

NKLYN Wilson, chairman of the COB

terday’s signing, Prime Minis-
ter Perry Christie told the
group, “I expect that the pro-
fessors at the University of the
Bahamas would have a direct
impact, much more so than
before, in fact, an historic
impact on informing public pol-
icy. I see them as resource peo-
ple for this country.”

“IT believe when we look



council, smiles with Jeniffer Issacs Dotson
yesterday day at a union signing at the the college book store
(Photo: Felipé Major/Tribune staff)

Virus which closed school
still unidentified by experts

lm By MARK HUMES

THE district medical offi-
cer for Inagua and
Mayaguana Dr Modesto
Kapuno told The Tribune
that preliminary findings
link the mysterious illness
at the Inagua All Age
School to an airborne viral
disease.

However, the exact
nature of the virus has yet to
be determined.

As of Wednesday,

according to Dr Kapuno,
there were 75 cases where
residents — mainly school

ment is scheduled to travel to
the island this week to carry out
further tests, but Dr Kapuno .
said that the public has nothing
to be concerned about.

The All Age School with

remain closed today, giving
health teams time to have the

school properly cleaned and
sanitised before students return
on Monday.

Officials were forced to close
the school on Wednesday ‘aftér ©
students were hit by the’ tiryste-
rious illness.

Initial reports indicated that
the illness first began among
students in the middle and high

ness of the outbreak at the pri-
mary school this week that
prompted school officials to act.

The Department of Public
Health issued a statement on
Wednesday acknowledging “an
increase in the number of cases
of acute respiratory infections
in school age children between
the ages of five and 17 years old
in Inagua.”

It said that although the caiiseâ„¢

had not yet been determined,
most acute respiratory infec*~
tions in this age group are “due

’ to viruses such as Influenza A

and B and Respiratory Synctial
Virus.”

ee

about three to seven days.

The department said that no
one in Inagua was consigned to
hospital, no deaths were report-
ed and that the majority of chil-
dren have recovered.

“A team of epidemiologists
and surveillance officers will be
sent to Inagua to assist with the
investigation.

Lhe Ministry of Health and... ofl
‘National insurance will-issies"
further updates as sOGTPas Hew

information i8'made available,”
the statement said.

back in history,” said the Prime
Minister, “this will be a defining
moment in the history of this
country.”

o

vere

>

>?
>,?
» »

dustrial agreement made :

Dr Rhonda Chipman-John- , -, -
son told the faculty and UTEB?<*"

union members in the audience
that she looks forward to
greater productivity from them,
especially in the area of
research, and she looks for-
ward to their assistance in
building the University of the
Bahamas.

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a two-month deployment to the students — experiented a__ school last week. The statement added that | so duce i tn wy 8 De ee
Caribbean, arrived Sunday in variety of symptoms such as However, it was the serious- __ viral illnesses typically last for feehaty :
Antigua for a six-day visit. They’ sore throat, fever, abdomi- : 2gs
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exercises with the country’s mil- already accumulated data ; Be Ne ey
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He said they have met with ‘them sent to the surveil- 3
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naval exercises. Cuban Presi- F sees,
dent Fidel Castro accusing the FOR PEST PROBLEMS The successful candidate should possess the following ;
United States of trying to intim- PHONE: 322-2157 qualifications: F i
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Strong communications and interpersonal skills: includin
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problem solving wg : ;
Strategy development & organizational skills ul cacrasgenaaarn. Ban é ine, ;
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Microsoft Office skills (Word, Excel, Power Point) a ; , :
Significant travel required s i
Responsibilities include:
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objectives for growth and profitability zr The Mall-at-Marathon
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OSEDON T_[+a0-[ 395 [wa | 620 [095 [1040
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; ri A 93-9404 a 3207
a repeth:
PAGE 4, FRIDAY, MAY 19, 2006



tie CRT

Lath ASD



THE TRIBUNE ~



Te lane TO Te EDITOR

Cuba’s election to the

The Tribune Limited

NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI

Being Bound to Swear to The Dogmcs

rf ATA AA
vy ivy ivi SLEr

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

SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G.,

(Hon.)

[FIT EOD Rei tie

Publisher/Editor 1919-1972
Contributing Editor 1972-199]

EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B.

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1956
Advertising Manager - (242) 502-2352
Circulation Department - (242) 502-2387
Nassau Fax: - (242) 328-2398
Freeport, Grand Bahama: 1-(242)*352-6608
Freeport fa; (242) 352-9348



A glimmer of hope on US aioh tion

PRESIDENT BUSH slipped just enough
humanity into his national immigration
address to show this is one issue he seés with
complexity. After saying he will send the
National Guard to the borders and build new
fences and walls, he acknowledged that mil-
lions of people are in the US to stay and mil-
lions are still going to try to come to the US
to stay.

In calling for a temporary worker pro-
gramme, he talked about people who “walk
across miles of desert in the summer heat or
hide in the back of 18-wheelers to reach our
country.” He said “America is a more hope-
ful country” because of the work and sacrifice
of immigrant parents. He repeated the story
of Guadalupe Denogean.

Denogean rose from being a crop-pick-
ing son of a Mexican migrant guest-worker
family and from being a high-school dropout
to a 26-year career as a US soldier without
American citizenship.

’ His career ended with serious injuries in
Iraq. Moved by his story, the president and
Laura Bush went to the hospital to witness his
oath of citizenship. “Our new immigrants are
just what they’ve always been,” President
Bush said, “people willing to risk everything
for the dream of freedom.”

If Bush wants to push the human side of
immigration more properly, he can add some
things the next time. In the address, he
harped on the real or perceived negatives of

‘illegal immigration. “Illegal immigration puts
pressure on public schools and hospitals,”
the president said. “It strains state and local
budgets and brings crime to our communi-
ties.” He said nothing about benefits.
' President Bush left the evidence under-
neath his own Oval Office desk. He could
have used his own 2005 Economic Report
of the President. That report found that 58
per cent of America’s total employment
growth of 11 million workers between 1996
and 2003 came from the ranks of the foreign
born. Immigrants accounted for 84 per cent of
employment growth from 1996 to 2003 in
Indiana, Illinois, Michigan, Ohio, and Wis-
consin.

In talking about the massive drop of US-
born operators, fabricators, and labourers
and the massive rise of foreign-born workers
in those jobs since 1996, the report said, ”’ This
should not be taken as evidence that the for-
eign-born displace native workers; rather, it

reflects the fact that immigrants have made’

up all of the growth in the low-skiiled work-
force. As education levels rise among younger
US workers and older US workers retire, the
number of low-skilled natives is declining.”

The report said economic studies typically
find that “immigration has little effect on
native wages.” It said, “Immigrant workers
range from the seasonal agricultural labour-
er to the Nobel-prize-winning scientist. They
are the doctors and nurses who serve inner
cities and rural areas, the professors who
teach in our universities, and the taxi drivers
and hotel workers that travellers rely upon.
Immigrants also fill jobs that simply allow
Americans to go to work every day, such as
housekeeping and child care.”

Even taking into consideration the strain
that undocumented families place on public
schools and healthcare, the report said, “The
work ethic of US immigrants bolsters their
economic contributions. Summing up the
economic benefits and costs of immigration
shows that over time, the benefits of immi-
gration exceed the costs.”

One example of the benefits is in a recent
study of Latinos in North Carolina by busi-
ness professors at the University of North

Carolina. Nearly half of the state’s 600,000.

Latinos are undocumented. On the bare sur-
face, the costs might seem to exceed the ben-
efits. Latinos annually pay $756 million in
taxes but cost $817 million in education,
healthcare, and corrections.

But the study also found that Latinos had
a total direct and indirect spending impact of

‘ $9.2 billion in the state. The study said that

without Latino labour, “the output of the

state’s construction industry would likely be .
considerably lower and the state’s total pri- ©

vate sector wage bill as much as $1.9 billion
higher. Some of these labour-cost savings
keep North Carolina’s businesses competitive
while others are passed on in the form of
lower prices to North Carolina consumers.”

In his address, President Bush said, ““Amer-
ica needs to conduct this debate on immi-
gration in a reasoned and respectful tone.” If
the president has the courage to say to the
nation that the benefits exceed the costs, this
could be a glimmer in a gloomy presidency, a
critical issue where he actually came down on
the side of reason.

(This article was written by Derrick Z.
Jackson of the Globe Staff — c. 2006 The
_ Boston Globe).

Human Rights Council

EDITOR, The Tribune.

THE announcement that
Cuba’s election to the United
Nations Human Rights Council
was an “important victory” by
Cuban Ambassador Felix Wil-
son Hernandez is certainly no
occasion to celebrate. In fact, to
the contrary as Cuba tries to
legitimise its history of blatant
human rights abuses and breach-
es of most of the provisions of
the United Nations Universal
Declaration of Human Rights.
Under his own admission,
Ambassador Wilson Hernandez
has confirmed the oppression of
his own people by the Cuban
government. The restriction on
travelling abroad by Cuban citi-
zens is reminiscent of the days of
the “Iron Curtain”, that razor
sharp electrified barbed wire
with automatic machine guns
and killer attack dogs which had
descended across Europe for
almost nine hundred miles dur-
ing the Cold War. Unlike most
fortresses that are built to keep
invaders out, the Iron Curtain
like Cuba’s policy on Cubans
travelling outside Cuba was built
to keep its citizens in.

With no opposition, the mass-
es are subjected to the directives
of the government whose poli-
cies may contradict common
decency, observance of human
rights and due process or sim-
ply just ignore the Rule of Law
without any accountability. Any
individual expression or con-
trasting point of view could be
perceived as a challenge or a
threat. Consequently, it is simply
just not tolerated. Such individ-
uals are labelled as “enemies”
of the state or as in the case of
Cuba, “agents of the United
States!”

For their outspokenness, these
individuals all too often are con-
demned to serve lengthy prison
sentences in detention centres
that have not been inspected by
any credible international regu-
latory agency in almost 50 years.

Ambassador Wilson Hernan-
dez is quick to boast about the
progress of the Cuban society.
His measurement of progress
deals with improvements in edu-
cation, healthcare, social, etc, but
mentions nothing about the
quality of life. Progress has come
to Cuba, but at what cost? Does
the end justify the means? The
state of desperation of the
Cuban people is played out
almost on a daily basis in the
Gulf Stream. Any chance to get
out of Cuba, no matter how
remote the chance of success is
worth the risk even if it means
paying the ultimate price with
their lives. When you have noth-
ing, you have nothing to lose
attitude. Bahamians may never
understand the act that would
drive a mother to put her child
on a rubber tube in the middle
of the ocean in the hope that he
will land in America, as did the
mother of Elian Gonzales! Or,
the individuals who were exe-
cuted for trying to hijack a boat

LETTERS

letters@tribunemedia.net



to Florida, even though no
hostage was hurt or killed! Yet,
Ambassador Wilson Hernandez
has the gall to expect the
Bahamian people to understand
Cuba’s position on human rights.
Man, he must be “loco”!

How can Cuba understand the
concept of freedom of expres-
sion when there is only one
radio/TV station in the whole
country that is completely con-
trolled and censored by the
Cuban government? In addition,
Cuba “jams” or blocks out other
radio stations just so that the
Cuban people cannot hear
another side of a story. A recent
government organised demon-
stration protested some of the
Articles of the Universal Dec-
laration of Human Rights posted
on the wall of the United States
Interest Office in Havana.
Rather than protesting these
Articles, if Cuba was serious

_ about human rights, shouldn’t

they be trying to promote them?
Have you ever noticed that the
only demonstrations permitted
in Cuba are the ones that sup-
port government’s policy?

The Bahamas being a nation
with “Christian values” found-
ed on the principles of democ-
racy for its part should be lead-
ing the charge to ensure that the
Articles of the Declaration is
practised in whatever country it
does business with. It was insult-
ing to any decent Bahamian
when prior to the vote, Ambas-
sador Wilson Hernandez indi-
cated based on the “sucker”
/move in the form of education,
healthcare, social services, etc,
that he expected the Bahamas
to support Cuba in its quest to be
appointed to the Council.

The fact that Ambassador
Wilson Hernandez made such a
public statement on this matter,
the government of the Bahamas
should have stated its position.
However, according to press
reports, instead of a public
response, the Cabinet of the
Bahamas took a behind closed
doors vote on the matter as the
vote at*the United Nations was
also secret. With such wide-
spread speculation that the
Bahamas had in fact voted in
favour of Cuba, the Bahamian
Government led by Prime Min-
ister Perry Christie had promised
the Bahamian people “trans-
parency and accountability” in
government has remained mys-
teriously silent on this issue.

Many persons have also
expressed disappointment with
Foreign Minister Fred Mitchell.
Minister Mitchell has had a long
history of being involved in
human rights. This writer has
stood shoulder-to- shoulder on
many occasions, especially when
the question of fundamental
rights arose. By supporting

Cuba, is it reasonable to assume
that Minister Mitchell has aban-
doned his commitment to
human rights? Indeed, it was
Minister Mitchell who a few
years ago was so appalled by the
state of Cuban prisons that it
was due to his personal initia-
tives that the prisoner exchange
programme where prisoners
serve the rest of their sentence in
their own country was created.
Former Cuban prisoners have
indicated that despite the bad
reputation of Fox Hill Prison in
Nassau, it was an upgrade when
compared to those in Cuba.

Even more disappointing has
been the lack of a public stafe-
ment by the Bahamas Christian
Council. Maybe they are just too
busy dealing with personal crisis
among their members or looking
at their collection plates. They
had so much to say about moral-
ity when the “sissy” ships came,
but with a need for internation-
al morality, the church is not
speaking out. With the tradition
of religious oppression in Cuba;
this should have been a fae
brainer”!

Cuba’s attitude towards the
United States is like the story
out of that old colonial school
book series, The Royal Reader.
A student was accused by -thé
teacher of not keeping his eyes
on his book. The student imme-
diately retorted that another stu-
dent was not keeping his eyes
on his book. The Teacher
replied: “How do you know that
the other student’s eyes were not
on his book if you had your eyes
on yours”? Whenever Cuba is
accused of a possible breach of
the Declaration, its immediate
reaction is to justify its actions by
attacking possible breaches by
the United States. Cuba doesn’t
understand that two wrongs do
not make a right.

Finally, a decent world would
have no difficulty having Cuba
on the Council if there were indi-
cations that Cuba was striving
to implement the ideals of the
Declaration. Regrettably, Cuba’s
behaviour has been most dis-
couraging and human rights con-
tinue to be an illusion and a farce
in Cuba. Much of its support
may have come from third world
countries that were taken advan-
tage of with assistance of edu-
cation, healthcare, etc. Under
this wicked scheme, these unfor-
tunate countries, like the
Bahamas were coerced to sup-
port Cuba. Now genocide, tor-
ture, abuse of women and chil-
dren, etc in countries such as
Sudan, North Korea, Zimbab-
we may go unchecked, because
with Cuba on the Council, it can-
not throw stones as Cuba is a
human rights glass house.

DR LEATENDORE i
PERCENTIE DDS
Boston,

Massachusetts,

May 15, 2006.

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THE TRIBUNE



Cuba marks

anniversary
of biotech
programme

m:CUBA

piavana

CUBAN scientists on

Wednesday celebrated the 20th
anniversary of the island’s
biotechnology program by
introducing several new prod-
ucts, including one designed to
heal foot ulcers in diabetics,
according to Associated Press.

.Cuba’s communist govern-

ment has dedicated about US$3
billion over the past two
decades in Havana’s Center for
Genetic Engineering and
Biotechnology, said center
director Luis Herrera.

-sWith about 500 scientists and

another 1,000 workers, the cen-
temhas undertaken more than
SO@iprojects over the past two
degades, including the successful
production of several vaccines
now marketed worldwide, he
said.

-.jhe celebration came the
same day that new German
xesearch cast doubt on the effec-
tiveness of a sugar cane-based
ingredient originally marketed
in Cuba as a cholesterol treat-
nent.

yiBut Herrera said the

research, published Wednesday
inthe Journal’ of the American

@ By RUPERT MISSICK Jr
Chief Reporter

PLP Chairman Raynard
Rigby hit out at FNM Leader
Hubert Ingraham for his criti-
cism of government’s decision
to consider hiring 1,200 new
public servants.

Speaking with The Tribune
yesterday, Mr Rigby called the
former prime minister’s
remarks “immature”.

At a PLP mini-convention
earlier this month, Public Ser-
vice Minister Fred Mitchell
announced that the govern-
ment is looking into expanding
the public service by 1,200
employees.

Last weekend, Mr Ingraham
criticised this — saying the
money could be used to give
teachers what they need: pari-
ty in pay with other profes-
sionals in the public service.

Mr Rigby said that he was
disappointed by Mr Ingra-
ham’s statement, adding that
public commentary on issues
of national importance should
be made on a level above par-
tisan differences.

“You can have a difference
of opinion in terms of what
can be offered to them, but it
cannot be accurate to say that



RAYNARD Rigby

a government who made a
decision to employ 1,200 per-
sons in the public service (is
wasting money) — knowing
obviously why they are
employing these persons, what
role these persons will play in
the public service, and being

satisfied of the need for those :

people to come into employ-
ment at this time.

“We are not wasting money,
we are employing 1,200 people
who don’t have a job, who are
looking for a job and who have
the basic skills we need in the

: accepted

The PLP chairman also
denied that the proposal to
expand the service is an elec-
tion ploy to win votes.

“At the last convention in
November of last year, the
minister of the Public Service
indicated that the government
was going to hire, so all he is
doing is reconfirming that
commitment, which was in
November of last year,” the
party chairman said.

Mr Rigby described Mr
Ingraham’s comments as
“immature commentary by a
former prime minister”.

“Having served in the office
of the prime minister for nine
and a half years, one would
expect that he would under-
stand the dynamics of the
negotiations with the BUT,
understand what the implica-
tions are for the economy and
that we have to ensure the
future growth and develop-
ment of the country; that we
don’t wreck it by being reck-
less in the way we make deci-
sions and how they affect the

_ national purse,” the PLP chair-
man said.

Mr Ingraham said that when
the FNM was in office, they

the teachers’
premise, which was there was

FRIDAY, MAY 19, 2006, PAGE 5

Rigby criticises Ingraham for
comments on recruitment

no parity in pay in the public
sector for teachers with qualifi-
cations similar to those of other
public servants.

He said that his government’s
aim was to bring the teachers’
pay up over a period of time,
until it was in line with other
professionals in the public ser-
vice.

Mr Ingraham said that after
taking all relevant factors into
account, the former FNM
administration decided to seek a



fair and reasonable agreement
with teachers that showed
respect for and commitment to
the development of teachers in
the society, and to the payment
of a reasonable wage by the
government.

“As best as we can, we need
to increase their pay to ensure
that the good teachers remain in
the system to further educate
our students and we also know
that any increase has to be done
responsibly,” Mr Rigby said.



NOTICE

ThelMinistyloflSocialServiceslandiCommunity2Development
isipublishing(forlthelinformationDofithelpubliclanloverview
ofllalproposedinewlpiecclofillegislation, JThel(FamilylAnd)

ChildiProtectionfAct.

+

DO Seay Oem: ThelMinistry0willJcommencelalseriesloflpubliciconsultation

onltheproposedilegislationfonlTuesday,02301Mayl2006 tat
BCPOUDHall 0FarringtontRoad,llatl7:30p.m.

Disgruntled BIS staff told
to support boss or resign

DISGRUNTLED staff at
Bahamas Information Ser-
vices have been told to sup-
port their new boss or

Medical: Association, required
further study. “We have to see
what the results were and if the
research was well done,” he
said.

Dominican
migrants
found off
Puerto Rico

Thel/MinistryJinvitesithelviewsloflthellpubliclonithelproposed
legislation.

Personsldesiringlalcopylofithelfullltextimaylobtainithelsame
fromlTheJMinistrylofUSociallServicesJandiCommunity
Development.JFredrickfHouseJFredrickiStreet IThelDepartment .
offSociallServices,JClarencelBaini Building {Thompson
BoulevardlorlThelDepartmentlofiRehabilitativelWelfare
Services,JThompsonlBoulevard.

nalist whose career went back
to the 1960s.

Staff said Mr Ellis, formerly
employed by Hansard, the offi-

“Staff got the impression that
Mr Ellis will eventually end up
reporting to this woman,” said
the source. .

MUST SELL

Goon Investment OpportUNITY

Ws fet resign. cial parliamentary record, did
‘@ PUERTO RICO Tourism Minister Obie not have the experience to fill
_ San Juan Wilchcombe “read the Riot __ the role satisfactorily.

However, Mr Ellis told The
Tribune that the agency’s pro-
duction had expanded since he
took over. He expressed sur-
prise that anyone should be dis-
contented:

Last night, the government
was accused of cronyism in pro-
moting Mr Ellis. Critics claim
his family had close links with
Bimini — part of Mr Wilch-
combe’s constituency.

“Staff thought it offensive
that 86 per cent of them should
express no confidence in this
fellow, and then have him
rammed down their throats,”
said the source.

At the meeting, Mr Wilch-
combe introduced a Jamaican
woman consultant who, it is
thought, will ultimately take
over from Mr Ellis.

The consultant is reviewing
BIS activities at the moment
and will suggest improvements.

Act” to journalists and oth-
er workers at an emergency
meeting on Wednesday,
according to sources.

“Tt was a take it or leave it
situation,” a source told The
Tribune. “He told staff to
either support their boss or
hand in their resignation.”

The meeting came after
staff petitioned for the
removal of BIS director.
Edward Ellis, claiming he
was unsuitable for the job
and treated employees “like
pieces on a chessboard.”

But Mr Wilchcombe
made it clear during his no-
nonsense speech that Mr
Ellis was not going any-
where, and that dissenters
were unwelcome.

“PUERTO Rican police and
‘the US Border Patroi detained
‘eight: Dominican migrants after
they reached this US Caribbean
‘tertitory’s northern coast'in a
ri¢kety boat, officials said,
-aceording to Associated Press.
«2? Police said Wednesday they
idetained six of the migrants in
Manati, about 30 miles west of
‘the island’s capital of San Juan.
US Border Patrol agents arrest-
edthe othertwo, police said.
Thousands of Dominicans
have risked the journey across
‘the rough Mona Passage in
-search of better prospects in
Puerto Rico, just 70 miles to the
east. The Dominican Republic
has been emerging slowly from
a: punishing economic recession.

Two Story
APARTMENT COMPLEX
3,324 sq ft

Lot No. 15 Block No. 19 '
6,540 sq ft
Centerville Subdivision, Nassau
Comp SINE four apartment
units

- For conditions of the sale and any other information, please contact:
_ The Commercial Credit Collection Unit at: 502-0929 or 356-1608 Nassau, Bahamas

Interested persons should submit offers in writing addressed to:
The Commercial Credit Collection Unit, P.O. Box N- 7518, Nassau, Bahamas
to reach us before June 15, 2006.

ea : The showdown came

Tea REE Rossi
Fertilizer, Fungicide,
Pest Control

after the minister received a
letter saying staff had no
confidence in their leader.
Mr Ellis became director
of the government media i ‘
agency two years ago after \

=" | OCT A)THE POWER TO SURPRISE

Symmonett, a veteran jour-

4 I
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to like. First, it's a matter of style: with Carens,
PINEAPPLE ts you confidently drive and arrive in style

CONCH FEST A Sporty Elegance that’s
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whether your destination is the Government
House or the Fish Fry. Second, it offers loads
PALMETTO POINT HOME-COMING
GREEN CASTLE HOME-COMING

of room-enough for your family and friends
plus cargo. And, lastly, there’s the pure
_ VEHICLE PASSENGER FERRY SCHEDULE
(Air-conditioned Passenger Cabin)

pleasure of driving an automobile as
exquisitely well-engineered as the new
Carens. :
THURSDAY JUNE iST

DEPT. NASSAU 1:00PM

ARRIVE HATCHET BAY 4:40PM
DEPT. NASSAU 10:30PM
ARRIVE GOVERNOR’S HARBOUR 3:00AM

FRIDAY JUNE 2ND
DEPT. NASSAU 9:30AM
ARRIVE HATCHET BAY 1:10PM

|RETURN MONDAY JUNE 5TH

DEPT. HATCHET BAY 8:00AM
ARRIVE NASSAU 11:35AM
DEPT. GOVERNOR’S HARBOUR 5:00PM
ARRIVE NASSAU 9:30PM

RETURN TUESDAY JUNE 6TH

DEPT. HATCHET BAY 1:30AM
ARRIVE NASSAU 5:00AM

The right is reserved to reject any or all offers.



Tropical Exterminators
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PAGE 6, FRIDAY, MAY 19, 2006

THE TRIBUNE



LOCAL NEWS



Dominican president’s party appears set for big gains —

@ SANTO DOMINGO,
Dominican Republic

PRESIDENT Leonel Fer-
nandez's party was poised to
make significant gains in Con-
gress in the Dominican Repub-
lic's first legislative elections
since he took power, accord-
ing to the latest results Thurs-
day, according to Associated
Press.

With 1.5 million votes from
Tuesday's election counted,
Fernandez's Dominican Lib-
eration Party appeared to lead
in about 60 percent of the
races, although elections offi-
cials said many were still too
close to call.

The party currently has just
one senator in the 32-seat Sen-
ate and about a quarter of the
seats in the House. On Thurs-

IMPORTANT

NOTICE
SERVICE INTERRUPTION

day, it had 50 percent of the
national vote and was ahead
in races for 19 of the Caribbean
nation's 32 provinces, accord-
ing to the electoral commis-
sion.

But the commission said just
a few hundred votes separated
races in several provinces. In
Pedernales, which borders
Haiti, Fernandez's party led by
just nine votes.

”

From 11 p.m. on Saturday 20th May
to 8 p.m. Sunday 21st May 2006.

Our Electronic Banking System will be temporarily unavailable
during the times listed above while we conduct routine
maintenance on our System Network.

During this period, the following services will be unavailable:
e Internet and Telephone Banking

Please plan ‘your weekend finances to cater for this necessary
maintenance. We apologise for any inconvenience.

www.firstcaribbeanbank.com

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@ MALNOURISHED children and their mothers sit together awaiting food and medication in the |
small town of Madaroufa 32 kilometers (20 miles) from Maradi, Niger in this 2005 photo.
(AP FILE Photo/Schalk van Zuydam)

Children’s event

to raise money ©

for crisis in Niger

THE proceeds from a chil-
dren’s event being held in
Nassau this weekend will be
donated to the fight against
the ongoing health crisis in the
central African nation of
INISCiy ee

The event, “Family Festivus:
tiny tots day out!” is being
held this Sunday, 21 May at
the Botanical Gardens
between lpm and Spm.

Tickets are available at
Logos Bookstore in the Har-
bour Bay Shopping Centre, at
the Global United (GUL)
Store in Sandyport or
by We ( familyfestivus@yahoo.com.:

Niger, a country nestled
between Algeria, Chad and
Nigeria in Africa, is battling
severe malnutrition among its
population.

On top of the high death
rate from starvation, the coun-
try is now in the throes of a

meningitis epidemic.

Nigerian children are the
most vulnerable and are dying
in at a rapid rate.

One in five children under
the age of five and almost one
in three children under 20
months of age suffer from
acute malnutrition.

Niger is one of the poorest
countries in the world and par-
ents can do nothing to save
their children.

International appeals for aid
by the UN have been poorly
met.

UNICEF and Doctors
Without Borders are both
providing services to combat

the acute malnutrition and

meningitis epidemic.
Doctors Without Borders
have set up a network of
ambulatory feeding centres in
the worst hit areas. Each
week, children at these cen-
tres receive medical care and a

therapeutic food supplement, i
In February, Doctors With=.j

out Borders also launched'a
massive meningitis vaccina>

tion campaign. Without treat»,

ment, 50 to 80 per cent ‘of:

those who develop active

meningitis will die.

The Family Festivus is beitig”

held to raise money to help

Doctors Without Borders and |

UNICEF with their work: to:

save the children and families i

of Niger. re

Organisers say the event! As.
an opportunity for our young:

children and families to have. i

fun and at the same time raise, '

money for the Niger crisis:
All of the activities ate
aimed at young children: pony
rides, bouncing castle, face
painting, tiny tunes and cer
tots’ gymnastics.
There will also be games

and activities for the family to »

participate in together.

GOVERNMENT NOTICE
MINISTRY OF IMMIGRATION, LABOUR & TRAINING

THE MINISTRY OF IMMIGRATION LABOUR and TRAINING,
BAHAMAS TECHNICAL and VOCATIONAL INSTITUTE (hereafter
called the Purchaser) now invites sealed bids, from suppliers for the following:-

THE SECURITY SERVICES OF SCHOOL CAMPUS GROUNDS.
THE MAINTENANCE OF SCHOOL CAMPUS GROUNDS.
THE RENTAL & MAINTENANCE OF COPIERS FOR B-T.V.I.

CAMPUS.

THE RENTAL & MAINTENANCE OF SANITARY DISPOSAL’
UNITS FOR ALL FEMALE BATHROOMS ON SCHOOL CAMPUS.

Interested Bidders may inspect CAMPUS between the hours of 9:00am + f+
to 4:30pm, Monday through Friday. Collection of specifications and
bidding documents can be obtain from the Accounts Section of BT VI,

Old Trail Road, Wednesday, 3rd May, 2006.

Bids must be in English and should be enclosed in duplicates in a sealed
envelope bearing no identity of the bidder and endorsed with the subject
bided on (“Security of BT VI Campus”).

Bids must be deposited in the tender box provided, at the first address,
on or before Friday, 26th May, 2006 by 4:00pm (local time). It will not
be necessary to submit bids in person since they may be sent by mail.
Late bids will be rejected and returned unopened.

Bids will be opened at the public ceremony, in the presence of those
Bidders or their representatives who choose to attend, at 10am on
Tuesday, 29th May, 2006 at the first address below.

(1)

The Chairman Tender

Ministry of Finance
Cecil Wallace Whitfield
Cable Beach

P.O. Box N-3017
Nassau, The Bahamas
Tele: (242) 327-1530
Fax: (242) 327-1618

Accounts Section
Bahamas Technical & Vocational Institute
Old Trail Road

P.O. Box N-4934
Nassau, The Bahamas
Tele: (242) 393-2804

The Ministry reserves the right to reject any or all Tenders.


INe imMipviIne





Trinidad
aims to up
trade with
S America

@ TRINIDAD
Port-of-Spain

TRINIDAD and Tobago
must develop closer relation-
ships with Latin America to
diversify its oil- and gas-driven
economy, the country’s trade
minister said Wednesday.

Speaking at a convention
organized by the twin-island
nation’s manufacturing associa
tion, Trade Minister Kenneth
Valley said Trinidad has already
increased trade with Costa Rica
and Cuba.

“We see the integration of
our economy into Latin Amer-
ica as a critical objective,” Val-
ley said. “The government is
not going to rely on the current
windfall of steep oil prices.”

Anthony Smallwood, the
head of the European Commis-
sion’s delegation in Trinidad,
said the trade objectives with
Latin American countries are
within reach and would make
the Caribbean country more
competitive.

“Although it is ambitious, we
see this aspect of Trinidad’s for-
eign and trade policy as sensi-
ble,” Smallwood said.

“Latin America cou!d be the
locomotive to promote positive
growth for Trinidad’s manufac-
turers,” said Esteban Perez, and
economist with the U.N. Eco-
nomic Commission for Latin
America and the Caribbean.

INSIGHT
For the stories.
behind the

news, read
Insight on

eat al





@ ACTOR Sidney Poitier, left, poses with his wife Joanna
Shimkus after being awarded Commander in the Order of the
Arts and Letters by France's Minister of Culture Renaud
Donnedieu de Vabres ;

(AP Photo/Francois Mori)

FRIDAY, MAY 19, 2U0U6, PAGE /



Poitier’s top award in France

m@ FRANCE
Cannes

FRANCE gave Sidney Poiti-
er its highest arts honor at the
Cannes Film Festival, where the
culture minister praised the
Oscar winner for tearing down
barriers for black actors in Hol-
lywood.

Poitier, 79, was named a com-
mander in France's order of arts
and letters Thursday. In 1964,
he became the first black per-
former in a leading role to win
an Academy Award, for "Lilies
of the Field."

"You-are the champion of
equality between men," Culture
Minister Renaud Donnedieu de
Vabres said.

Poitier thanked his par-
ents, who were field work-

ers in the Bahamas, for giv-

ing him a sense of honesty,

MP makes appeal to
review land rights

@ By KARIN HERIG
Tribune Staff Reporter

SEEKING to give all
Bahamian landowners clear
titles to their properties, Philip
Davis, MP for Cat Island, Rum
Cay and San Salvador, has
appealed to parliament to rein-
state a committee to review all
matters pertaining to com-
monage and generation land.

Addressing his fellow par-
liamentarians during this
week’s sitting of the House of
Assembly, Mr Davis said it is
the government’s duty to
ensure that landowners have
clear titles to their land.

“It would be irresponsible for
us as leaders to allow the state
of commonage and generation
lands to continue as they are.
Many Bahamians are in pos-
session of these lands and some
are indeed living on them. But

. these people are not the owners

of these lands in the truest
sense of the word,” he said.
Mr Davis, chairman of the
committee, said that decades
and centuries ago, no one

could have foreseen that the
Bahamas would end up with
this hybrid type of land own-
ership.

“Tam sure the original own-
ers intended their inheritors to
have maximum benefit from
the lands they left for them,”
he said.

Mr Davis said that the com-
mittee would like to come up
with a formula whereby people
who are entitled can have clear
title to their land.

“This would enable them to
use their lands in the same way
as every other land owner in
this country. They are the own-
ers of these lands and as such
they should have all of the

benefits of owners. With clear’

title they would be in a better
position to develop their land,”
he said.

As is stands, Mr Davis said,
there are many people who
inherit plots and lands, but are
not in a position to develop
them because they do not have
clear title.

“The banks are not pre-
pared to allow them to borrow

Pena:
OFFICE CLOSURE

To Our Valued Customers

Please be advised that our Independence
Drive, Carmichael Road and Rosetta Street
offices will be closed on Friday May
19th from 9am to ipm for the
Company’s Annual Awards Ceremony.

In addition our Freeport and Exuma offices
will be closed from 9 a.m. to 5 p.m.

We apologize for any
inconvenience caused

Established 1920

monies against these lands and
so the land remains dormant ~
dormant, not for lack of inter-
est but rather for the lack of
the means to develop it.”

He said the committee’s
work is especially important
because of the ever-increasing
cost of land in the Bahamas.

“Tf we give clear title to
these Bahamians it will benefit
them a great deal and it will
cost us nothing. We owe this

much to the Bahamian peo-
ple,” he said.

The committee was first
appointed in November, 2004,
and has since then collected
information and documents
from the Department of Lands
and Surveys and the Depart-
ment of Legal Affairs.

Mr Davis said he foresees
the need for the committee to
also travel to some Family
Islands in the ‘near future to
hear concerns and receive the
suggestions of the islanders.

To meet the country’s imme-
diate needs in land administra-
tion and land information man-
agement, the government has

2006
FIESTA
$15,500.00

PART OF YOUR LIFE

integrity and compassion.
He also thanked the directors
who broke convention to hire

him, calling them "men who
chose to change that pattern
because it was not democratic, it

KEMP’S FUNERAL HOME LIMITED

22 Palmdale Avenue, Palmdale
Nassau, N.P., The Bahamas

A FUNERAL SERVICE |

ARNOLD JOHN
AGEEB, 72,
Better known as
“Chic”

of Love Beach, Nassau,
The Bahamas died
peacefully at his home on
Saturday, 13th May, 2006,
will be held at Sacred Heart
Roman Catholic Church,
Shirley Street, Nassau on
Monday, 22nd May, 2006
at 11:30am. Monsignor
Preston A. Moss will
officiate and interment will follow in the Catholic Cemetery,
Infant View Road, Nassau.

















Arnold Ran Arnold's Dept. Store on Bay Street for well over
thirty years and was an avid fisherman and gardener. He loved
being outdoors - either in his boat with his line and a cup of
coffee or out in the yard with his banana and pear trees and
his tomatoes and mangoes. But even more so he was a man
who loved his wife and children passionately and fully. Corned
beef and grits in the morning and steamed conch in the evening
made him a happy man and a slice of raisin pound cake or his
sister Gloria's bread pudding for dessert sent him over the
moon. He always had juicy fruit gum in his pocket for the
children and a box of chocolates for every occasion.












He was predeceased by his parents John and Mary Ageeb
and his sisters, Gloria and
Theresa Ageeb.





Mr. Ageeb is survived by his wife, Dr. Gloria Ageeb; 2
daughters; E.J. Maria Ageeb and Lupita Ageeb-Rolle, 3 sons,
Jose, Thomas and Antonio Ageeb; 2 grand-daughters, Jazmin
and Lizbeth Ageeb, 2 grandsons: Shelton and Jonathan Ageeb-
Rolle; 3 brothers: Anthony, George and Charles Ageeb; 2 sisters,
Kathleen Winchell and Rosemary Ageeb; 1 son-in-law, Shelton
Rolle and 1 daughter-in-law Elizabeth Ageeb; 2 nieces Angelique
Priore and Michaelene Ageeb; 8 nephews, Bernard, John,
Gregory, Ashley, Mark, Edward, Brian & Christopher Ageeb; 6
great-nephews, Joshua, Thomas, Joseph, Andrew, and Jordan
Ageeb & Michael Priore and 6 great-nieces Heather Priore,
Stephanie, Rebecca, Dana, Erin and Jenna Ageeb and 2 sisters-
in-law, La Verne and

Karen Ageeb.


















Relatives and friends may pay their last respects at Kemp's
Funeral Home Limited, Palmdale on Friday, 19th May, 2006
from 4:00pm to 6:00pm.

2006
ECOSPORT
$18,995.00

THOMPSON BOULEVARD » TEL.: 356-7100 ¢ FAX: 328-6094

EMAIL: friendlymotors@hotmail.com ¢ WEBSITE: friendlymotorsbahamas.com


oe itt wee ey. Beevers tre eet eo eee Bee ee eee! le cee Ce ee ee

PAGE 8, FRIDAY, MAY 19, 2006





ALFRED, SARGENT
AND CHURCH’S

eT
a. ea
coe

TENG UME



FINEST HAND CRAFTED
ENGLISH SHOES.



AS the election season heats up, certain
MPs are beginning the mad dash to their con-
stituencies with the hope of being given
another chance. However, many are unde-
serving of being re-elected for another parlia-
mentary term.

In anticipation of the Bahamas’ next
dramatic political showdown, I’ve decided to
examine the electoral status of current MPs -
in New Providence, Grand Bahama and the
Family Islands - in a three-part column
spanning three weeks. This week, the
re-election chances of MPs serving Family
Island constituencies, some of whom have
long treated their constituents as “potcakes”,
will be scrutinised.

Due to Bimini being attached to a profile
that includes West End, Grand Bahama,
Tourism Minister Obie Wilchcombe is first
under the electoral spotlight.

As an MP, Mr Wilchcombe has been
superlative, genuinely interested in his
constituents, even dropping everything to fly
and stay among them during times of tragedy
and adversity and hurricanes. He has also
sought to bring investments to West End and
Bimini. In his capacity as tourism minister,
arrivals have increased, a tourism policing
unit has been established and. major investors
have become interested in the Bahamas.

Obie Wilchcombe is, I feel, the future of
the PLP and a prospective prime minister.
His attributes and the uncontroversial/
unsullied style make him a “shoo-in” to win
his seat. He is one of three MPs I consider
unbeatable — whoever is running against him
should prepare to lose their $400 deposit!

Hubert Ingraham, MP for North Abaco, is
also unbeatable. As Abaco can be
considered “FNM country”, and having won
the seat for three decades, it is unlikely that
Abaconians will now abandon their political
shepherd.

While North Abaco sources say they
consider Mr Ingraham a good
representative, more than anything, the for-
mer PM’s experience and political skills will
earn him another term.

As South Abaco MP Robert Sweeting is «
reportedly considering retirement, it would
be interesting to see the candidates poised to
contest his seat.

It is widely speculated that the FNM will
run ex-PLP senator Edison Keyes in this seat.
If so, his odds of winning are high.

In North Andros and the Berry Islands,
Vincent Peet should look to take a spanking
at the polls. Recently, Mr Peet has been seen

| promoting the construction of a sub-division

and the renovation of an athletic track and a
dumping site.
However, the Financial Services Minister’s

THE TRIBUNE



last minute vote-getting initiatives may prove
fruitless. According to North Androsians, he
has performed poorly as an MP.

Mr Peet’s disappointing tenure as
immigration minister and the Western Air
fiasco have prompted several North
Androsians to state that, come election time,
the crabs will be crawling and Mr Peet will
faint in the heat of defeat.

Whitney Bastian’s chances of retaining
South Andros are bright. As an independent
MP, he is most outspoken and has fervently
lobbied for the people of South Andros.

From my perspective he has done a
comparable, even better job, than the official
opposition in challenging the governing PLP
in the House. However, in this season of
intense party politics, he may wish to
consider joining a party.

In Cat Island, Rum Cay and San Salvador,
Philip Davis may likely retain his seat.
Recent undertakings in Cat Island and the
groundbreaking of the Montana
development in Rum Cay have heightened
Mr Davis’ likelihood of recapturing these
constituencies. However, more could be done
for San Salvador.

Speaker of the House and MP for South
Eleuthera James Oswald Ingraham and
Exuma MP Anthony Edwards are both likely
to lose their seats. Neither Mr Ingraham nor
Mr Edwards have been highlights in their
respective roles as House Speaker and
Deputy Speaker, and sources in both
constituencies have said a groundswell
motioning for change is underway whenever
the election bell rings.

V Alfred Gray, MP for Mayaguana,
Inagua, Crooked Island, Acklins and Long
Cay, will be voted out. He has performed dis-
mally as a minister and, according to con-
stituents, has performed dismally as an MP.

Well-placed sources state that Mr Gray,
who won in 2002 by a mere four votes, should
look to be beaten by proposed FNM
candidate Dion “The Bruiser” Foulkes.

Lawrence Cartwright, MP for Long Island’
and Ragged Island, has also performed 3
abysmally. Mr Cartwright’s election has not

done much for local affairs and development‘ |“!

on the island, particularly the north.

Mr Cartwright was well aware that joining
the FNM would increase his electoral
chances in Long Island, so he may recapture
his seat. .

e Next week, IJ’ll examine the re-election
odds of New Providence MPs. The PM must
consider dividing Long Island into two seats!

ADRIAN GIBSON |:

ajbahama@hotmail.com

Bank of The Bahamas |
INTERNATIONAL
“A growing and dynamic Bahamian institution”

VACANCY FOR THE POSITION OF: sf
EXECUTIVE ASSISTANT, HUMAN RESOURCES - :

Core responsibilities:.

Knowledge of Human Resources to effectively carry out all HR

functions

Serves as payroll officer; conduct necessary calculations associated
with payrolls such as insurance premiums and staff loans
Complies and prepares statistical reports and other data needed for

external and internal audits

Preparation of accounting entries to complete various HR transactions.
Coordinates Pension administration
Completes administrative functions like the accurate typing of offer |

letters
Maintains personnel files

Knowledge, Skills, and Abilities:

Strong desire to work in Human Resources;

Must be confidential

Excellent interpersonal skills

Three years Human Resources experience
Associate Degree or Banking Certificate

Excellent oral and written communication skills
Ability to take initiative and be a good team player

Benefits include: Competitive salary (commensurate with
qualifications); group medical, vision, and life insurance; attractive .
package and a pension scheme.

Send resume to:

The Manager, Human Resources and Training
Bank of The Bahamas International
P.O. Box N-7118
Shirley Street
Nassau, Bahamas

Deadline: May 26, 2006


Sp



THE TRIBUNE



Ingraham

FROM page one

“The residents expressed concerns :
about the purported disposal of all the :
Crown land and land owned by govern- :
ment, which amounts to some 126 acres,” :
Mr Ingraham pointed out. “They are of :
the view that the government gave away :
all of that land and that they have no :
more public land on the island. :

“Tf that were so then they would be :
justified in their concern,” he added. :
“There is some evidence to suggest that :
the government may not have given }
away all of the land. i

“We have also gotten the impression :
from the developers regarding the :
amount of Treasury land they got, that it
may be that they could review that and :
possibly settle for a lesser acreage than :
they have gotten.” i

Regarding land granted to the devel- :
opers to be held as a preserve, Mr Ingra- :
ham suggested to the developers that :
they engage more fully the Bahamas :
National Trust in planning and consid- :
erations on how the land can be best :
preserved and protected. i

Highlighting several of the residents’ :
other concerns, Mr Ingraham pointed :
out that the developers have agreed to :
make their EMP and EIA available to :
Michelle Bethel, an Abaco environ- :
mentalist who accompanied him and his :
colleagues on Thursday’s tour of the pro- :
posed development. ;

He said Guana Cay residents :
expressed concerns about how the devel- :
opers would handle land currently leased :
to them (Joe’s Creek), which is a tradi- :
tional area for crabbing. :

The residents also expressed concern :
about a potential disruption of shore- :
line nesting areas for turtles and about :
potential environmental runoff from the :
project’s proposed golf course. 4

“They believe there will likely be reef :
damage by golf course runoff,” Mr Ingra- :
ham noted. “The developers seem to :
have gone a long way to minimise that :
from happening and if appropriate inde- :
pendent monitoring could be established :
they could go a long way toward allaying :
the residents’ concerns.” i

The FNM leader also pointed out that :
from‘all indications, the project’s marina :
is going to be an environmentally friend- :
ly facility. :

Mr Ingraham acknowledged that :
there are some residents who are :
opposed to the development and would :
prefer not to have one of its size on Gua- :
na Cay because the island has full :
employment. i

“When I was invited to view the devel- :
opment and hold discussions with the :
developers I took advantage of that (invi- :
tation) and brought along my col- :
leagues,” he said. “(After meeting) with :
the residents of Guana Cay to hear their :
concerns and (after relaying) those con- :
cerns to the developers, we think that :
it’s possibleifor many of the concerns to }
be satisfactorily resolved.” :













Speakers:














Place: SuperClubs Breezes
| Cable Beach

Learn About:

Effective Corporate Governance
Monitoring, Accountability and Risk Reporting
The Role of Directors and Auditors
The High Impact Audit Enviroment
High Impact Audit Planning, Execution and Reporting

CPE Hours: 4.5 (BICA Approved)

FROM page one

are forced to do so,” she warned.

During a press conference held
on Monday by the Grand
Bahama Human Rights Associa-
tion, Ms Baptiste claimed that
infants born to Haitians in the
Bahamas died at the Carmichael
Road Detention Centre after
being refused health care.

She also stated that Haitians
living in the Bahamas for more
than 40 years have also been
deported from the country.

Ms Baptiste stated that in
March, 2001, the Bahamas goy-
ernment signed a heads of agree-
ment with the United Nations in
which the country declared that it
would root out all acts of preju-
dice among mankind.

The Bahamas, she said, made
a commitment to the UN when it
signed a declaration on Toler-
ance and Diversity, a Vision for
the 21st Century.

FROM page one

LOCAL NEWS

Immigration

She noted that even though
Immigration Minister Shane Gib-
son was not elected to office at
that time, Prime Minister Perry
Christie was a parliamentarian,
and was aware of the contract
which was signed by the
Bahamas.

“Why would the Bahamian
government sign such a heads of
agreement and not live up to the
terms of the agreement? What
has happened in five short years
for the Bahamas to forget that
they signed this agreement with
the UN?” she asked.

Ms Baptiste said a few weeks
ago that Prime Minister Christie
said on national TV that many
persons will be crying after Shane
Gibson starts implementing his
new immigration policy.

“We want the prime minister
to know that, yes many persons

are crying now. But, don’t worry,
he and many of his fellow PLPs
will be crying later,” she said.

She called on Minister
“Shame” Gibson to re-evaluate
and revisit these so-called new
policies that he is seeking to
implement, and seek wise coun-
sel before he gets the country
into further trouble with the
international community by
demonstrating that he and his
government are not leaders who
are able to keep their word and
speak the truth.

FNM leader Hubert Ingraham
has also criticised the PLP gov-
ernment for the recent “round-
up” of legal and illegal Haitians
in Eleuthera, and called on the
government to return to “inter-
nationally accepted” standards
and norms in the apprehension of
illegal immigrants in the coun-
try.
Grand Bahama Human Rights
president Fred Smith has blamed
the prime minister, police com-

Bozine Town

lution to it and that is what we intend to do,” Mr

Miller said.

Residents have described the Supreme Court’s
ruling in the Bozine Town case a “dangerous
precedent” for the Bahamas and said that they feel
betrayed by the failure of consecutive govern-
ments to establish a proper land registration sys-

tem.

The Supreme Court last week ruled that the
residents have no legal title to the land on which
some have lived for more than 50 years.

The area has been the site of a massive land dis-
pute since October, 2004, when the 500 or so res-
idents received letters from.the law firm of Lock-
hart and Munroe, informing them that its clients,
the Harrold Road Land Development Company,

FROM page one

or list any names as yet. How-
ever, he suggested it could
grow much larger as the oper-
ation continues.

Mr Rolle estimated that the
round up of vehicles would
take another two weeks, and
that although the vehicles were
expensive, they were still, in
fact, “used”.

“This is a case of under-val-
uation. They were declared, but
improperly so. Anything upon
which the full duty was not paid
is classified as un-customed
goods. As a result we have all
rights to hold or detain these
vehicles to ensure that customs
formalities are set aside,” he
said. |

Mr Rolle said he wanted this
exercise to be an example, also
a warning to any unscrupulous
business person who wished to
defraud the customs depart-
ment or the government.

IIA Institute of Internal
Auditors -Bahamas Chapter

Presents a Half Day Seminar On:

Corporate Governance &
High Impact Auditing

Hubert Edwards, CPA
Edgar O. Moxey, FCCA, MIA, CFE
Date: Thursday May 25th, 2006

Time: 8:30 a.m. - 2:00 P-M..(Continental Breakfast & Lunch included)

Cost: $100.00 Members / $110.00 Non Members

‘Contacts: Edgar O. Moxey Jr. 302-1449;
Sandra Butler 322-6525 or
Jasmin Strachan 502-6235

Please register early to secure your seat, and to
assist us with our arrangements with the hotel.

‘Luxury’
“This can serve as a warning
to those not only in the car
business but all those who
import goods and undervalue
them and believe that after
they leave the customs area
that they are home free. Or
even those who may have
avoided what the border con-
trols are, we want to make it
clear that we still have the right
to come back and seize the
goods if the full duty has not
been paid,” he said.
Reportedly the cars were

imported into the country ina |

regular fashion. However, it
was claimed that the true value
was not given.

It is the innocent third par-
ties, Mr Rolle said, who bought
the cars who will suffer initial-
ly as the vehicles can be sold
by customs to anyone in the
country and the monies
deposited directly into the



(LANDCO) had been granted certilicates of title
to property between Bozine Town, Knowles Dri-
ve and Harrold Road.

The residents fought back by organising a steer-
ing committee, staging demonstrations and raising
funds to secure legal counsel for the Supreme
Court case against the development company.

However, the residents were dealt a major blow
this week when Justice Jeanne Thompson ruled to
dismiss the action against LANDCO.

However, when the issue first started Mr Miller
said that no one would be displaced, and that
government will do what is in the best interest of
the people of Bozine Town and Knowles Drive.

vehicles

Treasury.

*Nevertheless, our concen-
tration for the time being is to
ensure that the item itself, on
which full duty has not been
paid, is seized by us and the
necessary formalities taken care
of later.

“Once something has been
forfeited to the government no-
one has the right to it. We can
sell it for the full value of the
item and those monies would
go directly to the Treasury. No-
one has a claim,” he said.

It is with this tactic Mr Rolle
said that he hoped that pres-
sure would be placed on those
persons “doing foolishness” to
compensate those they had ini-
tially defrauded.

Initial reports indicated that
so far 37 vehicles have been
confiscated. However, Mr
Rolle would not confirm this
figure.








FRIDAY, MAY 19, 2006, PA‘

a ts nm alec a

missioner and immigration min-
ister for what he called recent
inhuman and degrading treat-
ment and abuse of Haitian immi-
grants in the Bahamas.

Mr Smith beheves that immi-
gration should not be a criminal
issue, and added that the associ-
ation is promoting the process of
legalising and not criminalising.

He pointed out that Haitians
provide inexpensive, transient
labour, especially when so many
anchor projects are coming on
stream in the Bahamas.

Ms Baptiste said that there is
no facility to accommodate immi-
grants in Haiti, and elsewhere,
wanting to apply for immigration
work permits in their respective
countries.

“Will the minister kindly tell
us where in Haiti can an immi-

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grant go to apply tor a wo
mit? Who can they see
the address and phone nun
the immigration office in |
any other country f
matter that is handling t!
ters?

“Why are they putting ti
before the horse and try
fool the Bahamian public
are they deporting person
have been here for more |!
years? Why are they dep
persons who have held mos
18 work permits?

“Why are they refusin
care to infants born
Bahamas resulting in thei
at the Carmichae! Det
Centre? Is that why the B
an people elected a
PLP government to roy
them?”






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THE TRIBUNE

PAGE 10, FRIDAY, MAY 19, 2006







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|







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Good Books Unbound



The MLO ae

STORY SO FAR: On the day of

* Elk Valley School’s final exams, it
* was pouring rain. Ida, worried, not
- concentrating on the road, drove the

car off the road.

“We going to miss the exams?”

“Probably.”

Ida peered out through the wind-
shield. It was so spattered with
leaves and mud she couldn’t see any-
thing.

Suddenly there was a knock on the
side door. Felix and Ida jumped. Ida
looked to her right. Tom was stand-
ing there.

“What’re you doing?” he asked,
grinning. “Playing hooky?”

Ida didn’t know whether to laugh
or cry.

“Want a lift to school?” Tom asked.
“Old Ruckus can carry us all.” __

They were the last ones to get to
school, but Miss Sedgewick had not
yet arrived. Herbert had crawled in
through the window and opened the
door. Now Ida led in the rest.

Ida looked around. Natasha had lit
the lamps. Herbert had started the
fire. The room was neat save for a
few muddy footprints on the floor.

“Thank you, everyone. Let’s take
our seats.” :

Ida went to the teacher’s desk and
made sure that sharp pencils were
ready and that the blackboard was
clean and supplied with chalk.

There was a knock on the door.
Felix ran to open it. It was Miss

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her purse, she carried a briefcase and
an umbrella. “May I come in, Miss
Bidson?” she asked.

“Yes, please. And I’m just Ida
today.”

Miss Sedgewick looked at Ida.
“Have you been swimming again?”
she asked.

“The rain,” Ida said lamely.

Because of the weather there was
no flag raising. Ida found her old
place in the back row next to Tom.
He gave her a smile. Full of tension,
she smiled back, barely. Miss
Sedgewick opened her briefcase.
“There are two parts in your exams,”
she announced to the students.
“There are written sections” — she
held up some little booklets — “and
then there will be recitations and
board exercises. When I call you,
close your test booklets completely
and come forward. I’Il start with the
youngest and work my way up.

“T see your teacher, Miss Bidson,
has some pencils ready for you.
Good. Let’s begin.

The children opened their book-
lets. Natasha and Tom began to write
immediately. Miss Sedgewick called,
“Mary Kohl! Please come forward
and let me hear your ABC’s.”

Taking a deep breath, Ida quickly

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ILLUSTRATED BY BRIAN FLOCA



Uy

iy

i |

table of contents listed exams in
“Writing, Spelling, Grammar, Arith-
metic, Geography, U.S. History, Sci-
ence.” She opened the book at ran-
dom and came upon “Geography.”
The first question was, “Compare
South America to North America in
terms of size, shape, principal prod-
ucts, and population.” Her stomach
seemed to roll. Nervously she turned
to Arithmetic. The first question
was, “A farmer hired a man and a
boy at a yearly expense of $480. The
man received $25 a month. What
part of the $480 did the boy receive?”

Ida groaned inwardly and then
looked around the room. By the
teacher’s desk, Mary was reciting the
alphabet in a loud, singsong voice.
Everyone else was bent over their
tests. She could hear the soft scratch-
ing of pencils, the rub of erasers. Her
damp dress itched.

Panic gripped Ida. She was wasting
precious time! “You have to pass,”

she scolded herself. “You must! -

Start!” Picking up a pencil, she
turned to the front page of the test
booklet. “Reading.” The first line
said: “Write out a poem from your
reader for this year. Give author,
dates of his or her birth, and title.
Then give all stanzas.”

CENTRE

Town Centre Mail
Tel: 326 1473 or
322 9256 thru 60

Madeira Shopping Plaza
Tel: 322 7579 or 328 4053

* With Approved Credit * Some Stipulations May Apply

“] know that,” Ida thought to her- |

self with enormous relief and began
to write.

The day seemed to race by. ‘There
was a morning recess but though the
rain had stopped, no one wanted to

U Y,
3 LL ALL TEAL be out for long, other than to stretch
* CHAPTER i HH and ie a cup of ee Pes
ty much the same. Food was ;
i SEVENTEEN | {| not eaten. After lunch, Naty Hg
« The Last Day of School | Susie finished their tests and went
a / to play outside.
E | The others continued.
5 Peux ‘peered up-from ive At two-thirty, Miss Sedgewick rang
fi floor Of the Car. “Ilda How far Wi | the desk bell. “Half an hour,” she.
X are we from school?” informed them. “Check your work.”
& Her head resting on the wheel, Ida Then, “Five minutes! Make sure
said slowly, “I don’t know. Halfway, | HY yon ae ou anit:
s} maybe.” inally, the last be
‘ “What’re we going to do?” Miss ete trse core the
ae i : : Shhh : aper t
e LO Sedgewick. This time, aside from leafed through her booklet. The . Son Gaile keene a passed?”

Ida asked her. |

“I shall be grading them tomorrow.
You’ll’be informed by mail.” She
offered an encouraging smile and
left. The children followed slowly.

Standing by the teacher’s desk, Ida
gazed over the school. In all her life
she had never felt so exhausted. And
yet, the empty room seemed sad
without students.

“How’d you do?” Tom asked Ida,
as she closed the school door and
locked it.

“IT don’t know,” she confessed.
Then she asked, “Tom will you help
me pull our car out of the mud?”

(Continued on Tuesday)

Please direct requests for a teacher's
guide (cost $7) containing vocabulary
words, story questions, and newspaper
activities to The Tribune’s marketing
department on Shirley Street, by calling
502-2394 or by e-mailing
nie@tribunemedia.net.

Text copyright © 2000 Avi
Illustrations copyright

© 2000 Brian Floca
Reprinted by permission
of Breakfast Serials, Inc.
www.breakfastserials.com



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THE TRIBUNE





MONDAY



@ THE ARTS

The National Art Gallery of the Bahamas (NAGB)
is holding an African Art Exhibition - “What is
Africa to Me” from the private collection of Kay
Crawford running until Saturday, July 29.

@ HEALTH

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: New Providence
Community Centre: Mondays - 6pm to 7pm. The
Kirk: Mondays - 7:30pm to 8:30pm ~

Diabetes Directions a FREE diabetic support
group meets the first Monday of each month at
6:30pm at New Providence Community Centre,
Blake Road. Dinner is provided and free blood sug-
ar, blood pressure and cholesterol testing is avail-
able. For more info call 702.4646 or 327.2878

MS (Multiple Sclerosis) Bahamas meets the third
Monday every month, 6pm @ Doctors Hospital
conference room.

@ CIVIC CLUBS

St Andrew’s Kirk holds an After-School Pro-
gramme for children from the Woodcock and
Albury Sayle Primary Schools. The free pro-
gramme is held Monday to Friday @ St Andrew’s
Presbyterian Kirk and is open to children from the
Bain and Grants Town communities. Parents inter-
ested in enrolling their children should contact the
church at 322.5475 or email: ,
standrewskirk@yahoo.com

Toastmasters Club 3596 meets at the British Colo-
nial Hilton Monday’s at 7pm ¢ Club 612315 meets
Monday 6pm @ Wyndham Nassau Resort, Cable
Beach e Club 3596 meets at the British Colonial
Hilton Mondays at 7pm. —--—

The Nassau-Bahamas-Pan-Hellenie-Couneil——__
(NPHC) meets every third Monday of the month in
the Board Room of the British Colonial Hilton
Hotel, Bay St. a

TUESDAY

@ PARTIES, NIGHTCLUBS
& RESTAURANTS

10.10.2.20. @ Club Nirvana: Tuesday nights at Club
Nirvana; Elizabeth Avenue, have been dubbed
10.10.2.20. Every tenth female patron is allowed
into the club absolutely free and is given a compli-
mentary glass of Carlo Rossi. Tuesday nights also
include the Carlo Rossi's Hot Body Competition.
Hosted by Daddi Renzi and music provided by DJ
Ai from 100 Jamz. Master Chef Devito Bodie pro-
vides scrumptious appetizers.



@ THE ARTS

New - “Bahamain Art 1492 -1992” - NAGB will be
hosting a Bahamian Art History Lecture @ the
gallery Tuesday, May 25.

@ HEALTH

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: The Nassau Group,
Rosetta Street: Tuesday - 6pm to 7pm/8: 30pm to

9: ‘30pm.

The Gane Society of the Bahamas meets at
5:30pm on the second Tuesday of each month at
their Headquarters at East Terrace, Centreville.
Call 323.4482 for more info.

Pre & Post Natal Fitness Classes are being held
6:30pm Tuesdays at Nassau GymNastics Seagrapes
location (off Prince Charles Dr). Doctor approval is
required. Call 364.8423 to register for more info.

@ CIVIC CLUBS

Toastmasters Club 1095 meets Tuesday, 7:30pm @
CC Sweeting Senior School's Dining Room, Col-
lege Avenue off Moss Road.

Club Cousteau 7343 meets Tuesdays at 7:30pm in
the Chickcharney Hotel, Fresh Creek, Central
Andros.

Club 7178 meets each Tuesday at 6pm at the Can-
cer Society of the Bahamas, 3rd Terrace, Centre-
ville.

Alpha Kappa Alpha Sorority, Eta Psi Omega chap-
ter meets every second Tuesday, 6.30pm-@ the







EMAI
PLEASE PUT



“OUT THERE”

AROUN D

FRIDAY, MAY 19, 2006, PAGE 11





NASSAU





L: YDELEVEAUX @TRIBUNEMEDIA.NET -—
IN THE SUBJECT LINE




Eleuthera Room in the Wyndham Nassau Resort,
Cable Beach.

Alpha Phi Alpha Fraternity meets every first Tues-
day, 7pm @ Gaylord’s Restaurant, Dowdeswell St.
Please call 502.4842/377.4589 for more info.

Kappa Alpha Psi Fraternity meets every second
Tuesday, 6:30pm @ Atlantic House, ey Office,
Ath floor meeting room.

Alpha Phi Alpha Fraternity meets every first Tues-

.-day,6:30pm _at the British Colonial Hilton. Please

call 502.4842/377.4589 for more Infows sees
'. WEDNESDAY

@ PARTIES, NIGHTCLUBS
& RESTAURANTS

' LIVE MUSIC @ The Buzz, Nassau’s Weekly Jam

Session & Musicians Hook-up. Located East Bay
Street two doors East of Esso On The Run.

Hump Day Happy Hour @ Topshotters Sports Bar
every Wednesday Spm-8pm. Free appetizers and
numerous drink specials.

@ HEALTH

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: New Providence
Community Centre: Wednesday - 7pm to 8pm. The
Nassau Group: Rosetta Street, Wednesday - 6pm to
7pm / 8:30pm to 9:30pm.

@ CIVIC CLUBS

Bahamas Association for Social Health (BASH)
presents the Earth Village Ranch (petting zoo), St
Albans Drive and Columbus Avenue. Free admis-
sion every Wednesday by appointment between
9am and 3pm. For more information or to book
events call 356.2274 or 434.8981. Special rates avail-
able for groups of 20 or more with a two week
advance reservation.

The Nassau Bahamas Alumnae chapter of Delta
Sigma Theta Sorority Incorporated meets 6:30pm
every third Wednesday at the Bahamas National
Pride Building.

TM Club 753494 meets every Wednesday, 6pm-
8pm in the Solomon’s Building, East-West High-
way. TM Club 2437 meets the 2nd and 4th
Wednesday of each month at C C Sweeting Senior
High School, Oakes Field.

International Training in Communication, Essence
Club #3173 holds its bi-monthly meetings on the Ist
and 3rd Wednesday of each month at Doctor's
Hospital Conference Room.

Nassau Council 10415 Knights of Columbus meets
the second and fourth Wednesday of the month,
8pm @ St Augustine’s Monestary.

THURSDAY



@ HEALTH

Alcoholics Anonymous, wishes to inform the public







a a

New - “Express Yourself’ - an open mic
forum for poets and performance artists to
share their work - is held at ‘Me-Ting Place’ in
the plaza next to the British Colonial Hilton
and opposite McDonalds Le ntown, every
Tuesday at 8pm.

of its meeting times and places: The Nassau Group,
Rosetta Street: Thursday 6pm to 7pm / 8:30pm to
9:30pm. The Kirk: Thursdays - 7:30pm to 8:30pm

Pre & Post Natal Fitness Classes are being held
6:30pm Thursdays at Nassau GymNastics Seagrapes
location (off Prince Charles Dr). Doctor approval is
required. Call 364.8423 to register or for more info.

REACH - Resources & Education for Autism and
related Challenges meets from 7pm — 9pm the sec-

ond Thursday of each month in the cafeteria of the
BEC building, Blue Hill Road.

CIVIC CLUBS

New - The Bahamas Historical Society is scheduled
to hold its next meeting June 8 at 6pm @ the Muse-
um on Shirley Street and Elizabeth Avenue. The
guest speaker will be Dr John Burton of DePaul
University, Chicago. His topic will be "To Sell
Again": Economic Life of Nineteenth-Century San
Salvador.

TM Club 3956 meets Thursday, 7.30pm @ British
Colonial Hilton.

TM Club 1600 meets Thursday, 8.30pm @ Super-
Clubs Breezes.

International Association of Administrative Profes-
sionals, Bahamas Chapter meets the third Thursday

__of every month @ Sa Breezes, Cable
“thi Hcach, uiaad

FRIDAY

@ PARTIES, NIGHTCLUBS ~
& RESTAURANTS

Cafe Europa on Charlotte Street North, kicks off
every Friday night with Happy Hour... special
drinks, live music/DJ from 6pm to 9pm and Nas-
sau’s first European Night Restaurant - Open Fri-
day night till Saturday morning 5am, serving hot
food/and take out - music, drinks and an English .
breakfast. Cafe Europa...the perfect place to spend
your night out till the morning.

@ THE ARTS

New - Track Road Theatre presents Emille Hunts’
‘Da Market Fire!’ May 19 and 20 @ the National
Performing Arts Centre. The play is directed by
Deon Simms. For more information check out '
www.trackroadtheatre.org or call 392.0275 or
380.4334.

@ HEALTH

New - Autism Awareness Week

Conference on Autism Spectrum Disorders
Workshop for Professionals - May 19 @ 9am - 4pm
(New Providence Community Centre)

Workshop for Families - May 20 @ 9am - 4pm
(Garvin Tynes Primary School)

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: The Nassau Group,
Rosetta Street: Fridays 6pm to 7pm & 8:30pm to
9:30pm. Sacred Heart Church - Fridays @ 6pm to
7pm

New Providence Community Centre: Fridays @
7pm to 8pm.

@ CIVIC CLUBS

TM Club 9477 meets Friday, 7pm @ Bahamas Bap-
tist Community College Rm A19, Jean St.

AMISTAD, a Spanish club meets the third Friday ~
of the month at COB’s Tourism Training Centre at
7pm in Room 144 during the academic year. The
group promotes the Spanish language and culture
in the community.

Nassau Bahamas Koinonia meets every second Fri-
day of each month, 7.30pm at Emmaus Centre at St
Augustine’s Monestary. For more info call 325.1947
after4pm. ~

seat
"Safety comes in cans. I can, you can, we can."







SATURDAY

@ PARTIES, NIGHTCLUBS
& RESTAURANTS



New - Sun City Entertainment presents Saturday &
Sunday night functions for the alternative lifestyle
crowd (Gay) at Kendal's Auto Garage on Glad-
stone road from 11:30pm to 4am. Music provided
by DJ X. Heading south on Gladstone Road,
Kendal’s is located immediately past Moss Gas sta-
tion.

@ THE ARTS

Postponed - The NAGB was scheduled to hold a
Youth Workshop on Audio Recording - Saturday,
May 27 from 10am to 1pm, for children 12 years
and older. Instructor: Christian McCabe. Contact
the Gallery to reserve a seat @ 328.5801. The event
has been postponed until further notice.

@ HEALTH

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: The Nassau Group,
Rosetta Street: Saturday mornings - 10am to 11am.

Bahamas Diabetic Association meets every third
Saturday, 2:30pm (exce Bt August and December)
@ the Nursing School, Grosvenor Close, Shirley
Street.

Doctors Hospital - CPR and First Aid classes are
offered every third Saturday of the month from
9am-1pm. Contact a Doctors Hospital Community
Training Representative at 302.4732 for more infor-
mation and learn to save a life today.

@ CIVIC CLUBS

JAR CYCLING: The owners of JAR Cycling are
pleased to offer a cycling clinic for juniors between
10 and 17. The free clinic will be held every Satur-
day in an effort to encourage kids to cycle. Parents
interested in registering their children should con-
tact. organisers at jarcycling@gmail.com :

SUNDAY

@ PARTIES, NIGHTCLUBS
& RESTAURANTS

New - A Family Festivus Tiny Tots Day Out! will
be held Sunday, May 21 from 1pm to Spm @ the
Botanical Gardens. There will be pony rides, face
painting, tiny tunes, tiny tots gymnastics and daddy-
and-me Olympics and many more fun and games
for the tiny tots. Tickets will only be sold in advance

- $5 for adults and $8 for children - covers all activi-
ties except food. Tickets are available at Logos
Bookstore and Global United Store in the Sandy-
port Olde Town Mall. For more information call
427.5783 or send an e-mail to
familyfestivus@yahoo.com. All proceeds will go to
United Nations Children’s Fund (UNICEF) and
Doctors Without Borders.



Traveller’s Rest Restaurant, West Bay Street, fea-
tures special entertainment - Gernie, Tabitha and
the Caribbean Express - every Sunday from 6:30pm
to 9:30pm.

The Graham Holden Deal @ The Green
Parrot....David Graham, Steve Holden, Tim Deal
and Friends perform Sunday, 7pm - 10pm @ Hurri-
cane Hole on Paradise Island.

‘Sunday Night Interlude @ Briteley’s Restaurant &

Lounge, Eneas St off Poinciana Drive. Featuring
Frankie Victory at the key board in the After Dark
Room every Sunday, 8.30pm to midnight. Fine
food, drinks.

@ HEALTH

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: The Nassau Group,
Rosetta Street: Sunday 6pm to 7pm / 8:30pm to
9:30pm.

@ CIVIC CLUBS
New - The Cat Island Sailing Club will host its

Annual Cat Island Day - Sunday, ay 28 at the
Western Esplanade from 10am.- until

Send all your civic and social events to
The Tribune

via fax: 328.2398 or e-mail: ydeleveaux@
tribunemedia.net/Out there in subject line
-,PAGE 12, FRIDAY, MAY 19, 2006

THE TRIBUNE



etre:

%
*

S bs Larchahaie

’; PRESIDENT Rene Preval
on Thursday urged Haitians to
> help his fledgling government
‘ restore security so UN peace-

. keepers can leave, saying the
|. troubled country can’t control

“its. destiny with the presence of

“foreign troops”, according to

Associated Press

Preval, who took power Sun-
day, said the 9,000-strong UN
force was still needed to pro-

‘vide security in the bitterly
divided Caribbean nation.

But he made it clear that he
would prefer that the interna-
tional troops leave Haiti.

“The faster we can achieve
peace, the faster they can
leave,” he told a cheering crowd
of several thousand in this sea-
side town 31 miles north of the
capital, Port-au-Prince. “Why
are we not the owners of our

_ land? Because we have foreign
troops in our land.”

Preval spoke at a ceremony
marking the 203rd anniversary

of Haiti’s flag, an important hol-
iday that rouses Haitians’ patri-
otic fervour.

Earlier, Preval laid a wreath
at a statue of Haitian indepen-
dence leader Jean-Jacques
Dessalines, who fought off
French colonisers to make Haiti
the world’s first black republic.

“When we don’t have foreign
troops here, we can say we’re
the owners of our land again,”
he said.

The Brazil-led peacekeeping
force came to restore order
after a bloody February 2004
revolt toppled Preval’s prede-

_cessor and former ally, Jean-
Bertrand Aristide.

-’ After the revolt, Haiti’s capi-
tal exploded with street violence

‘blamned mostly on pro-Aristide

“gangs and renegade Haitian

police.

With calm slowly teturning ©

se A
TVG!

| Be.
: tee BSI OVERSEAS (BAHAMAS) LIMITED
- |: -BSI Overseas (Bahamas) Limited, Nassau, Bahamas, an established
_international private bank, with its headquarters in Lugano, Switzerland, is

ee “presently accepting applications for the position of Head of Operations.
| - The successful candidate will report directly to the Financial Controller:-

oy Vat ]=) Nm aE)



Preval urges public
help in security so |%
- UN can leave

. HAITI



@ HAITIAN President Rene Preval talks with a girl at the
town of L’Arcahaie, some 31 miles north of Port-au-Prince,
Haiti, at a ceremony marking the 203rd anniversary of Haiti’s

flag yesterday

to the nation, Preval called on
Haitians to be more productive
to attract investment to Haiti,
one of the world’s poorest coun-
tries. He cited tourism and man-
ufacturing as opportunities.

“We need to start producing
more so we don’t have to ask
for aid,” Preval said.

International officials say
Preval’s cash-strapped govern-
ment will need a quick infusion
of funds to operate.

»Juan Gabriel Valdes, who this!

week stepped down as the head

(AP Photo/Ariana Cubillos)

of the UN mission, warned of
more turmoil unless Haitians
see results in the next year.

"It would be frankly intoler-
able to see that for lack of inter-
national assistance at this point
in time the country goes back to
previous political and security
conditions,” Valdes said.

After Preval’s speech, a small
group of Aristide supporters
with bullhorns chanted for the

. deposed leader’s return, singing |
“Wevoted for Preval'so: Aris-
“tide could'come back.”



= Qed

has a vacancy for the position of

GROUP ACCOUNTANT







PROFILE:

e A minimum of a Bachelor’s Degree in Accounting or
Finance and professional accounting qualification (CPA)




e Three — five years relevant bank/trust company experi-
ence preferred




RESPONSIBILITIES INCLUDE:




e Prepare financial records for all groups




e Prepare Central Bank reports, financial statements, lead
schedules, and management reports




@ Maintain bank records and reconciliations




e Manage and maintain general accounting systems,
policies, procedures and accounting administrative
Services




e Treasury management responsibilities




e Supervise accounts personnel





e Assist with audits et, S gs

e Ability to work with minimum supervision




e Strong verbal and written communication skills and
organizational abilities LaTVeLAR




e Good knowledge of software packages including MS
Office





The successful candidate will report to the Financial Controller



The successful candidate will be offered a competitive |
compensation package including benefits and bonuses
commensurate with his/her experience.and performance. > 5
The Human Resource Director Hy gayyromets.
Fidelity ce
51 Frederick Steet
P.O. Box N-4853
Nassau
f: 326.3000







e-mail: careers@fidelitybahamas.com :



ine

has a vacancy for the position of

a

JUNIOR ACCOUNTANT ~~ /

PROFILE:

A minimum of a Bachelor’s Degree in Accounting or
Finance or professional accounting qualification and
planning to pursue the CPA



HEAD OF OPERATIONS

- “F~ Applicants must have relevant financial accreditation or professional qualifications
:ue sf .-and/or at least 7 years proven extensive managerial experience in all phases of

| ‘payments & securities and other assets in the offshore banking industry, be fully

| :abreast of today’s sophisticated private banking products, able to confidently
_ |. demonstrate hands-on management and be keen to train members of the team,
">" “f° “partner with other teams for strategy, development and the efficient implementation
ou: «| . Of the Bank’s directives, objectives and must have knowledge of Bahamian and
“© |< Swiss legislation, regulatory & statutory matters as well as international banking
. |. practices.

One - three years relevant experience with a bank/ trust
company preferred

RESPONSIBILITIES INCLUDE:

Prepare financial statements

Personal qualities :-
Proven ability to supervise staff & control the daily flow of transactions and
direct and guide staff through knowledge & example
Must have demonstrated practical organization of self and others,
specifically the ability to follow up systematically and ensure timely
settlement of all operational transactions
Will have the experience to solve problems based on sound product and
accounting knowledge and an understanding of the needs of the front
office/clients
Result-orientated and excellent.leadership skills
Ability to monitor and evaluate operational procedures and make
recommendations for improvements
Commitment to quality and service excellence & customer satisfaction
Extensive knowledge of international markets and financial instruments
Specific knowledge of processing both payments and securities

~ Knowledgeable in MS Office and other p.c. applications

Fluency in Italian language

Assist with reconciliation of custody accounts and
shareholder registers ;

Maintain general accounting systems, policies and
procedures

Administrative support
Liaise with clients and management
Ability to work with minimum supervision

Strong verbal and written communication skills and
organizational abilities

Good knowledge of software packages including MS

Responsibilities :- Office

Provide leadership, direction and supervision to the team

Monitor processing of c.d.’s, structured products, fiduciary deposits, special
bonds, etc.
Oversee investigations and follow up of all pending matters
Trouble-shooting, resolving problems and errors

Liaise with front/back offices, head office, brokers, custodians, etc.
Authorize reconciliations and review reports

The successful candidate will report to the Group Accountant

The successful candidate will be offered a competitive
compensation package including benefits and bonuses

, : te with his/her experience and performance.
Resumes should be faxed to # 702 1253 or mailed or delivered to the offices of Soe aa Cra ope cor P e

BSI, addressed to
Personnel Officer
BSI Overseas (Bahamas) Limited
Bayside Executive Park, W. Bay St. & Blake Road
P. O. Box N-7130
Nassau, Bahamas

The Human Resource Director
Fidelity
51 Frederick Steet
P.O. Box N-4853
Nassau
f: 326.3000

JUNIOR ACCOUNTANT GROUP ACCOUNT

(ABSOLUTELY NO PHONE CALLS PLEASE)
Only applicants having the above attributes will be contacted.

e-mail: careers@fidelitybahamas.com








THE TRIBUNE

a

A ERE ee,”

FRIDAY, MAY 19, 2006, PAGE 13









LUCKED OUT? WHAT YOU, BOB...UP 2







wWAY THE

QUIZZES
NEDDY QUESTONSS>

THE HILL...HEAVY
BREATHING 4



TM TRYING To SPARE|? DO I BOTHER? LUANN, AND
THINKS)

HER FEELINGS.



TOMMIE TOLD ME YOU'VE BEEN
» |] PROTECTING LU ANN FROM

LEARNING OF SCOTT‘S UPCOMING
MARRIAGE. THAT'S VERY KIND

















THAT WAS ERNIE ON
THE THIRP FLOOR CALLING

Ser :

Duka:

[ HELLO, OH YEAH,
THANKS...



I'M STARTING To QUESTION
WHETHER I HAVE ALL
THE ANSWERS

“7 3 BELIEVE I MUST
BE MATURING
£9

SILA PECEAPTALIDE . HET










MAKES (T
TASTE.KINGA

I VROPPEV
MY SANPWICH 1 WASHING
: ITOFF








CRYPTIC PUZZLE a
ACROSS

DOWN

1 Having cleaned up, she’s in the % Sina in a drunken brawl —
money (6) on key! 6)
7 Historically, the building 2 Fishing vessel? (6}

of Rome anew (4,4) 3
An American tramp with Ken in 4
Belgium (4)

A vessel for beer containing

a piece of cake (6)

In various cases, see a means of
entry (6)

A cricket side (3)

A fortune teller's card (5)

A tattered robe could be associated
with York (4)

There's one in a Spanish house,
normally (5)

A mistake, filleting? (5)
Character of the south of
Australia (5)
Hurtled — yet at diminished
speed? (4)
Strength of a debtor with

little money (5)

A crusty bird? (3)

Female warrior with a

big mouth! (6)

Has he a nice car to take Edna out
and about? (6)
Tongue that bends out

of the way? (4)

Figure to creep cunningly around in
deceit (8)

Greater rage, perhaps, between
opposing sides (6)

Possibie access to a revolver? (4)
Unhinged creator of something
nuc!sar} (7)

Pari of 9 building for accommodating
the old-iashioned (5)

is the new form of theft (5)

The ring of sanctitude (4)

The humble way to live with light
heart (3)

iscariot’s chariot (3)

One drinking too much of the south-
ern water? (5)

An exciting future, perhaps? (5)

Of this piant, ail but the head is
sticky (5)

It takes little money to get us upset
about nothing (3)

Is there 0 such price for

a gross? (3)

A peer deprived of one is short (7)
Just the neadgear for an unsafe
zone? (3)

Military commander organized raids
to end the war (6)

Possibiy superior pari of

S America (4)

One with a taste for wet bread, etc? (6)
Soft as an American father (5)

Pay for siarting work on time (5)
Standard of comparison (3)
Fighi wher owed money (4)

ACROSS
Robber (6)
Driven back (8)
Indian dress (4)
Ski slope (6)
Angry speech (6)
Obtain (3)
Regions (5)
Russian ruler (4)
Raged (5)
Italian city (5)
Deserve (5)
River crossing (4)
Mature (5)
Hill (3)

Optical illusion (6)
Gemstone (4)
Inciuded (8)
Cricket team (6)

:

Yesterday's cryptic solutions

ACROSS: 1, Floss 6, Chic-k 9, Cot-Erie 10, Scar-y 11,
Tar-Ry. 12, F-ria-r 13, Sea-ward 15, Pea 17, Oral 18,
B-eh-old 19, Fi-n-al 20, T-r-owel 22, Sari 24, Hen 25,

yesterday's easy solutions

ACROSS: 1, Usual 6, March 9, Similar 10, Trust 11, Rivet
12, Fluid 13, Stances 15, Led 17, Pert 18, Beware,19,
Giver 20, ironed 22, File 24, New 25, Trainer 26. Pairs 27,
Below 28, Gaudy 29, Parasol 30, Aliey 31, Decry

DUWN: 2, Sprite 3, Assent 4, Lit 5, Fills 6, Mariner 7, Arid
8, Clever 12, Fetid 13, Spain 14, Arrow 15, Latin 16,
Defer 18, Beers 19, Getaway 21, Reveal 22, Finale 23,
Leader 25, Tread 26, Pope 28, God

Minaret 26, Ste-I-n 27, Sarah 28, Sugar 29, L-ever-et 30,
SOR Tears

2, Locker 3, S-crawi 4, Soy (so-rr-y) 5, We-i-rd 6,
Chadel 7, Hear 8, Cartel 12, F-rail 13, South 14, Aaron
15, Polar 16, Admi-t 18, BA’s-in 19, Fea-the-r 21, Retail
22, Sal-ute 23, Re-pair 25, Mi-les 26, Sale 28, Set

Representatives (6)

COMICS PAGE



MARGARETS!”

1. You are South, and the bidding

has gone:
South West North East
1& 24 3& Pass
3¢ Pass 44 Pass
se
What would you bid now with:

@ AQJ105S ¥ 72 © AK983 & 4
2. You are South, and the bidding

has gone:

East South West ‘North
3& 49 Pass 6%
Pass ?

What would you bid now with:
& AK ¥ AQJ843 @ 10 # A982
kak

1. Five diamonds. Your partner
has bid rather strongly, and there is
no doubt you’re close to a slam.
However, you can’t undertake the
slam unilaterally with two heart los-
ers, nor would Blackwood solve the
problem if partner responded five
diamonds, showing one ace. Con-
versely, you can’t pass because’ it
might easily turn out that slam is ice-
cold.

Since you can’t tell just how high
to go, your best shot is to leave the
decision to partner. He will know
you’re trying for slam when you bid
five diamonds, because otherwise
you would have passed four spades.

| He might have any of the following

four hands, consistent with his previ-
ous bids, and will know exactly what
to do over five diamonds:
1. #K963 ¥ J4 @ Q5 & AKQ82
2. ®K764 ¥ 9 @ Q104 & AKIJ93
3. ®K872 ¥ KS @ 6 & AKJ1075

“YOU WANTED ME TO BRING HOME A REALLY
GOOD REPORT CARD..,.60 I BORROWED

Bidding Quiz



[ DONT THINK
Tu GO TO

- 4,.@K94 ¥ A83 % Q7 & AK982

With the first hand, containing two },

heart losers, he would sign off at five
spades, which you’d pass. But with
the next three hands, which contain
first- or second-round heart control,
as well as other key values, he would
bid six spades.

2. Seven hearts. This is one of
those cases where you do or you
don’t, and the nod here goes to do.
It’s hard to imagine a hand partner
might hold where you wouldn’t have
a good chance for seven, and you
shouldn’t try to talk yourself out of
bidding a grand slam just because it’s
possible to concoct a hand partner
might have that would make seven a
risky bid.

In effect, you’re faced with a math-
ematical proposition. To undertake a
grand slam, the odds have to be 2-to-
1 or better in your favor. You don’t
have to be 100 percent sure of a
favorable outcome, as some players
contend; all you need is the convic-
tion that partner will produce a hand
that is likely or certain to yield all the
tricks.

You start by assuming partner can’t
have two club losers; there’s no way
he could jump to six hearts with such
a holding. Nor could he bid six with
an aceless hand, regardless of what
he held in clubs. He is far more likely
to leap to six with any of the follow-
ing hands, and you would make
seven with each of them:

1, @ Q93 ¥ K972 @ AKQ72 # 5S

2. @ Q72 ¥ K1065 #AQI843 #& —

3. @ QI84 ¥ K972 © AK93 & 7

TARGET

- HOW many words of
four letters or more
can you make from
the letters shown
here? In making a

_ word, each letter may
be used once only:
Each must contain the
centre letter and there
must be at least one
nine-letter word. No
plurals or verb forms

ending in “s”, no words with initial capitals and no
words with a hyphen or apostrophe permitted. The
first word of a phrase is permitted (e.g. inkjet in

inkjet printer).





=

Accommodation (6)
Trader (6)

Fit (4)

lahabitant (7)
Wash (5)

Borders (5)

Long poem (4)
Dacay (3)

Staff (3)
Dissuade (5)
Flower (5)

Shoot (5)

Tree (3)

Floor covering (3)
Say in passing (7)
Males (3)

Hunt (6)

Spoken (4)
Intensify (6)
Black bird (5)
Pennies (5)
Gratuity {3)
Fashior. 4)

SOHANERWNHHE

BUNRRYRREREERE



TODAY'S TARGET
Good 11; very good 16;

excellent 22 (or more).

Solution tomorrow.



anil anion calico CANONICAL ciao cicala coil coin
colic conic conical icon laconic lain liana linn lino

YESTERDAY'S SOLUTION
dion loci loin nail

Lack of feel-
ing or interest

From an intemet blitz game, 2006.
Winning tactics are usually 8
presented as a smooth and logical
progress to a decisive advantage, 7
but real-life games are often more
haphazard. Here | was White in a
Sicilian Defence and had gone for 5
the usual king’s side attack while,
Black countered on the other flank.
My rosy dreams of Bxg7 and Qxh7 ‘ 3
mate were interrupted by Black's
1...Be7! which pins the g5 knight
and meets 2 Bxg7 by Bxg5 3 Qxg5
Kxg7. True, White would then keep
an attack by 4 Ne4 but | was
enticed by 1...Be7 2 Rf6 with the
idea Bxf6 3 exf6 and mate soon
follows. Again my self-
congratulations were disturbed,
this time by 1...Be7 2 Rf Bxf6 3
exf6 Nh5 when White's attack

PUZZLE SOLUTIONS














ean




FRIDAY,
MAY18
ARIES - March 21/April 20

No one can resist your fiery charm
this week, Aries. People flock to you
instinctually. Make sure you cast an
equal amount of affection’ in their
directions also.

TAURUS - April 21/May 21
You may need to understand
another point of view later in the
week, even if you’re not up to
adopting it. It’s best to keep an open
mind in all situations. .
GEMINI — May 22/June 21
You feel empowered to blow past
all of the things which have been
slowing you down. Take an interest
in someone’s affairs and lend a
helping hand.

CANCER - June 22/July 22
Don’t feel pressure to rush
through things this week, Cancer.
Remember, the tortoise beat the
hare in the end. Enjoy looking at
those things along the journey —
it’s that much more fun. - :
LEO- July 23/August 23

You spend your days among those
closest friends this week;. Leo.. There’s
no need to take a leadership role when
you’re seeing everyone, as.equals.
Romance is possible on Wednesday.
VIRGO - Aug 24/Sept 22

If others insist on annoying you,
keep your distance. You shouldn’t
get caught up in their foul mood or
let it bother you one bit. Delight in
some quality “alone time.” }

LIBRA - Sept 23/Oct 23

If you act in a selfless manner this
week, Libra, your actions will:have a
surprisingly large impact. You can
make more of a difference than you
know. Enjoy the moment..
SCORPIO — Oct 24/Noy 22
Stop being so critical, Scorpio. It’s
high time you start judging people
by their results rather than what they
did to get there. A new way of think-
ing inspires you on Tuesday. |
SAG XIUS — Nov 23/Dec 21
Dive headfirst into an adventure in
excess, Sagittarius. You may want to



‘| tule your life by your emotions for a

while, since you are feeling so posi-
tive. You can’t*seem to get enough,
so feel free to ask for more. |

CAPRICORN - Dec 22/Jan 20
You have a hard time keeping; secrets
this week, Capricom. Although you may
not be more talkative than usual, others
seem to be more perceptive. Confide
only in those people you trust.

AQUARIUS - Jan 21/Feb 18
Favorable events unfold in record
time this week, Aquarius. You’ are in
search of quality things and have no
patience for anything less. Scorpio
shares your point of view.

PISCES — Feb 19/March 20

Your instincts are sharper than usual,
Pisces, so don’t believe anything. you

| know deep-down is not true. A friend-

ship needs mending and you should
take the first step.

CHESS by Leonard Barden

“Seu 168 9 SU +2PG S Up ISR
v SUN 9) € OP O14 Z L281 “BITS UORMIOS ssaur)
_PAGE 14, FRIDAY, MAY 19, 2006



YOUR CONNECTION“TO THE WORLD

POSITION VACANCY
Chief Financial Officer (CFO)

The Bahamas Telecommunications Company Limited (BTC) invites applications for
the above position from suitably qualified persons with relevant experience in the
telecommunications or related industry.

GENERAL ACCOUNTABILITIES

This position develops and directs the Company’s accounting and control activities to
protect the assets of BTC and to ensure the internal and external integrity of accounting
standards and financial controls. The CFO is to provide accurate and timely monthly
corporate performance reports and annual budgeting information to Board members,
executives, senior managers and line managers. The CFO also directs the formulation
and implementation of the Company’s financi~! goals and objectives including cash
management, banking and relations with banks and investment firms, risk management
and capital funding requirements. The enhancement of revenue (including the

‘implementation of measures to stop revenue leakage) is an important requirement for
this position.

This is an executive management position reporting to the President & Chief Executive :

Officer and the Chairman of the Finance Committee of the Board of Directors. As the
Chief Financial Officer of BTC, the holder of this position provides the Board and
senior management with informed and timely opinions on the Company’s financial
performance and trends impacting operations.

SPECIFIC ACCOUNTABILITIES

1. Develop and direct the Company’s accounting and control activities to protect the
assets of BTC, to ensure the internal and external integrity of accounting standards
and financial controls, and to provide accurate and timely reporting and budgeting

information to Board members, executives, senior managers and line managers.

2 Direct and prepare for printing and distribution all statutory accounts and annual
audited financial reports.

3. Direct the formulation and implementation of the Company’s financial goals and
objectives including: cash management, banking and relations with banks and
investment houses, risk management and capital funding requirements.

4. Provide the Board and Executive Management with informed and timely opinions
on the Company’s financial performance and trends impacting operations:

5. Protect the assets of the Company by directing the accounting and control, financial
planning, statutory reporting, and risk management activities on a company-wide
basis.

6. Enhance the Company’s public image by ensuring the integrity of accounting and
‘control standards and procedures and by providing the published annual report on
a timely basis.
7. Contribute to the aims and objectives of BTC by providing informed advice relative
to the Company’s financial performance, the general business environment and
developing trends impacting BTC’s activities.

8. Contribute to increased corporate revenues through effective cash management and
by preparing and presenting financial operating data for Board and executive
approval.

9. Coritribute to the reduction of operating expenses through the development and
implementation of accounting and-control procedures and systems to provide
accurate and timely data for the information of the Board, executives and managers.

10. Ensure the Company’s continued access to capital at competitive rates by ensuring
the flow of financial information, by maintaining contact with commercial and
investment banks and by directing accurate and timely financial planning and
budgeting.

11. Ensure the necessary human resources to meet both the current and future needs
of the finance division by participating in t! » selection, mentoring, motivation
and development of managers and staff.

12. To attend as required all meetings of the Executive Committee, the Board of
Directors and the Finance Committee of the Board and any other relevant committee.

13. To arrange for the audit of BTC’s financial statements in a timely manner and to
liaise with BTC’s external auditors as required.

14. To ensure prompt action to implement recommendations made by the Internal
Audit Department in their reports to the Audit Committee of the Board and the
senior management.

REQUIREMENTS

The successful candidate should be a member of a recognized accounting body from
the U.K., Canada or the USA, possess a thorough working knowledge of International
Accounting Standards (IAS) and meet the following requirements:

¢ ACPA or ACA designation with at least ten (10) years of commercial post-qualification
experience with proven senior management experience in the’ telecommunications
industry.

¢ Exceptional interpersonal and communications skills.
¢ Expertise in implementing Enterprise Resource Planning (ERP) systems.
COMPENSATION

BTC offers a competitive salary and excellent benefits commensurate with
qualifications and experience and in line with compensation and benefits afforded
senior executives in the private sector.

It is BTC’s intention to execute a contract with the successful applicant for‘a
period of three (3) years with an option to rene vy the contract for a mutually agreed
period.

All applications are to be received at BTC’s Head Office, 21 John F. Kennedy Drive,
no later than June 6", 2006 and addressed as follows:

Director of Human Resources

The Bahamas Telecommunications Company Limited
John F. Kennedy Drive

P. O. Box N-3048

Nassau, Bahamas

Re: Vacancy: Chief Financial Officer

THE TRIBUNE



ee Oe

ce

Deputy Chief Financial Officer (DCFO) is

ere ev ere

The Bahamas Telecommunications Company Limited (BTC) invites applications for the above
position from suitably qualified persons with relevant experience in the telecommunications or.
related industry.

GENERAL ACCOUNTABILITIES

The holder of this position assists the Chief Financial Officer as he or she develops and directs
the Company’s accounting and control activities to protect the assets of BTC and to ensure the
internal and external integrity of accounting standards and financial controls. The CFO is to
provide accurate and timely monthly corporate performance reports and annual budgeting
information to Board members, executives, senior managers and line managers. The CFO also
directs the formulation and implementation of the Company’s financial goals and objectives
including cash management, banking and relations with banks and investment firms, risk
management and capital funding requirements. The enhancement of revenue (including the
implementation of measures to stop revenue leakage) is an important requirement for this position.

This is an executive management position reporting to the Chief Financial Officer (CFO).

SPECIFIC ACCOUNTABILITIES

To assist the CFO and provide leadership in the Finance Division with the following:

1. Develop and direct the Company’s accounting and control activities to protect the
assets of BTC, to ensure the internal and external integrity of accounting standards
and financial controls, and to provide accurate and timely reporting and budgeting
information to Board members, executives, senior managers and line managers.

2. Direct and prepare for printing and distribution all statutory accounts and annual
audited financial reports.

3. Direct the formulation and implementation of the Company’s financial goals and
objectives including: cash management, banking and relations with banks and
investment houses, risk management and capital funding requirements.

4, Provide the Board and Executive Management with informed and timely opinions
‘on the Company’s financial performance and trends impacting operations.

5. Protect the assets of the Company by directing the accounting and control, financial
planning, statutory reporting, and risk management activities on a company-wide
basis.

6. Enhance the Company’s public image by ensuring the integrity of accounting and
control standards and procedures and by providing the published annual report on a
timely basis.

7. Contribute to the aims and objectives of BTC by providing informed advice relative | ,
to the Company’s financial performance, the general business environment and
developing trends impacting BTC’s activities.

8. Contribute to increased corporate revenues through effective cash management and
by preparing and presenting financial operating data for Board and executive approval.

9. Contribute to the reduction of operating expenses through the development and
implementation of accounting and control procedures and systems to provide accurate
and timely data for the information of the Board, executives and managers.

~ 10. Ensure the Company’s continued access to capital at competitive rates by ensuring
the flow of financial information, by maintaining contact with commercial and
investment banks and by directing accurate and timely financial planning and
budgeting.

11. Ensure the necessary human resources to meet both the current and future needs of
the finance division by participating in the selection, mentoring, motivation and
development of managers and staff.

12. In the absence of the Chief Financial Officer to attend as required all meetings of
the Executive Committee and the Finance Committee of the Board and any other
relevant committees.

13. To arrange for the audit of BTC’s financial statements in a timely manner and to
liaise with BTC’s external auditors as required.

14, To ensure prompt action to implement recommendations made by the Internal Audit
Department in their reports to the Audit Committee of the Board and the senior
management.

REQUIREMENTS

The successful candidate should be a member of a recognized accounting body from the U.K.,
Canada or the USA, possess a thorough working knowledge of International Accounting Standards
(IAS) and meet the following requirements:

¢ ACPA or ACA designation with at least five (5) years of commercial post-qualification
experience with proven management experience in the telecommunications industry.

¢ Exceptional interpersonal and communications skills.

¢ Expertise in implementing Enterprise Resource Planning (ERP) systems.

COMPENSATION.

BTC offers a competitive salary and excellent benefits commensurate with qualifications
and experience and ‘in line with compensation and benefits afforded senior executives in
the private sector.

It is BT'C’s intention to execute a contract with the successful applicant for a period of three
(3) years with an option to renew the contract for a mutually agreed period.

All applications are to be received at BTC’s Head Office, 21 John F. Kennedy Drive, no later
than June 6th, 2006 and addressed as follows:

Director of Human Resources

The Bahamas Telecommunications Company Limited
John F. Kennedy Drive

P. O. Box N-3048

Nassau, Bahamas

Re: Vacancy: Deputy Chief Financial Officer
THE THIBUNE ")

FRIDAY, MAY 19, 2006, PAGE 15/\~

Carin el alte
tarectiiy inert ar:
mere oni







a KATINA Seymour, humorous speech contest runner-up at the district’s fall conference in
October 2005; Craig Valentine, past winner of Toastmasters’ World Championship of Public
Speaking. Over 75 Bahamians are expected at the upcoming Florida conference.

(Photo Anthony Longley)

Toastmasters
1ead to Florida
r conference



TAMPA, FL- ‘The Baharaas
Ministry of Tourism will join
hundreds Of toastmasters this
week¢nd as they flock ‘to the
Cocoa Beach Hilton for the
annual Spritig‘Conference of
Toastmasters International Dis-
trict 4Â¥.

Organisers say it is expected
to be jan exciting weekend for
the hundreds of individuals who
have ¢ommitted to improving
their dommunication skills.

Satyrday-has been designated
“Bahamas Day”. The Bahami-
an delegation, with the dssis-
ran of a. a DOM enone team

¢ .
from the Ministry of Tourism,
will showcase things Bahamian.

These will include Bahamian
music, decorations and
junkanoo centrepieces. There
will be door prizes including
hand crafts sponsored by
Bahamian business persons.

The Bahamas division will
also be represented in the
speech contests by Toastmas-
ter Ilsa Evans and Distinguished
Toastmaster Michael Patton.

Said a Toastmasters statement:
“If you are like most people,
public speaking is not your
favorite pastime. Yet survey after

survey shows that presentation
skills are crucial to success in the
work place. The person with
strong communication skills has
a clear advantage over tongue-
tied colleagues — especially in a
competitive job market.

“Many people pay thousands
of dollars for seminars to gain
the skill and confidence neces-
sary to face an audience. But
there’s another option that is
much less expensive and held
in high regard in business cir-
cles — Toastmasters Interna-
tional,” the statement said.

Toastmasters International |



started in 1924 with one club at a
the YMCA in Santa Ana, Cali- \
fornia. It has grown to become
the world’s leading organisation
for helping people conquer their
pre-speech jitters.

It is a non-profit educational
organisation that teaches public
speaking and leadership skills
through a worldwide network
of clubs.

The organisation currently
has around 211,000 members in
10,500 clubs in 90 countries.

one of 24 Frescata Picnics for up to 12 friends!

Conmontvenlth Sy uneral .























































Drawings will be held each week for (4) weeks. Tune in to 100
JAMZ and JOY F.M radio stations for details.











~ Retired Prison
Officer
yiMr..Charles
‘Sidney Sweeting,
- 712. affectionately
‘called "Babe"

formerly of. Wemyss
Bight Eleuthera, and a
resident of Ridgeland
Park East, will be held
on Saturday, May 20th,
2006, 11:00 a.m. at The
Chtistian Prayer Contre Faith Avenue North. Bishop
Cidely D. Williams assisted by Elder Leon Williams
and Bishop Ernest Sweeting will officiate and interment
will follow in Woodlawn Gardens, Soldier Road.

Precious memory are held by, his children, Annalee
Woodside, Cynthia Smith, Olympia Pearce, Sidney,
Chandler and Keva Sweeting; 6 grand-children,
Christal Woodside, Cynthra Smith, Ketarrio Annbrister,
Mercette Pinder, Valdez Pearce and Malcolm Smith
Ir} 2 sisters, Mable Delancey and Vera Rolle; 2
brothers, Fr. Stafford Sweeting and Gifford Sweeting
of ‘Wemyss Bight Eleuthera,.umerous nieces and
nephews, 1 aunt, Effie Brown of Miami Florida; 1
daughter-in-law, Melvern Sweeting; 2 sons-in-law,
Clémenth Pearce and Bernard smith; 7 sisters-in-law,
Kay and Agnes Sweeting of Wemyss Bight Eleuthera,
Sybil Sweeting, Cora Bullard of Freeport Grand

Bahama, Ilene Grant, Maura Bullard and Cynthia
Capron; 1 brother-in-law, Hugh Bullard; 1 God-child,
Simeon Rolle Jr., other relatives and mends include;
J ennie Sweeting and family, Mary Sweeting and family,
Idena Burrows and family, Dorothy Rolle and family,
Father James Moultrie and family, Esther Daxon,
Shirley Scavella and family, Florence Johnson and
family, Mr. Stubbs and family, Carmetta Johnson and
family, The Christian Prayer Centre Members, Kenneth
Sweeting, Sister Verneisha Jaitor and family, Sister
Pearl McKenzie and family, Mother Pat and family,
Mr, Munroe and family, Mr. Ferguson and family, Ms.:
Taha Knowles and family, Kemp Road Crew, Terry,
Stéphanie, Linda, Elizabeth Sweeting, Basket Ball
Coach'Pegs, Chestnut Crew, Mr. and Mrs. Jerry Kemp
and family, Sybil Peter and family, Mr. J. Smith.,
Ridgeland Park Crew, Centreville Crew, Ms. Debbie
Deleveaux and family, Miss. Blanche Rolle and family,
Coconut ‘Grové Crew, Sandra Humes and family,
Raquel, Monique: and family, Nurse Ingraham and
family of Miami Florida, Ms. Tanya Major and family,
Mg. Gwen Hunt, Ms. Magnola Walker, Ms. Lockhart,
Msg. Minnis, Ms. Moxey, Mr. Hutchinson, Ms. Viola
Marshall, Mr. King Johnson and family, Adelaide
Village Crew, Ms. Chisholm and family, Katie and
Margaret Smith.

Relatives and friends may view the remains at THE
CHAPEL OF MEMORIES INDEPENDENCE
DRIVE on Friday from 10:30 a.m.-6:30 p.m. and at
the church on Saturday from 10:00 a.m. to service
time.






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PAGE 16, FRIDAY, MAY 19, 2006 THE TRIBUNE



LOCAL NEWS



E Clement
Bethel National
Arts Festival
adjudication



m@ ABOVE: SNUG COR-
NER, Acklins — Snug Corner
Primary School students
singing at the adjudication.

@ LEFT: Acklins resident
Ms Portia Cox telling the
story of the Cascarillaplant.

@ RIGHT: Lovely Bay
Primary School student
Ashley Williams dancing.



(BIS photos: Eric Rose)



mY FRIENDS AND | WOULD LIKE TO INTRODUCE YOU TO A NEW GAME.



Hello, I'm Allen Stanford. This summer, along

with these legends of West Indies cricket, I'll be | :
introducing a new evolution of cricket to the people :
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FRIDAY, MAY 19, 2006

SECTION

business@tribunemedia.net



(ee

BUSINESS

Miami Herald Business, Stocks, Analysis, Wall Street







‘Seamless transition’ for
winning City Markets bid.

@ By NEIL HARTNELL
Tribune Business Editor



he all-Bahamian

investor group that yes-

terday saw its $54 mil-

lion acquisition of the

majority stake in
Bahamas Supermarkets approved by
a US Bankruptcy Court will not “do
anything dramatically different” with
the company’s operations, The Tri-
_bune was told last night, having
dropped the foreign component from
its bid.

Anwer Sunderji, chairman and
chief executive of Fidelity Merchant
Bank & Trust, which advised BSL
Holdings on the deal, said the all-
Bahamian investor group was “look-
ing forward to closing swiftly on this
transaction”, which is likely to be the
biggest buyout ever for a commer-
cial, non-hotel business in this nation.

With the sale of Winn-Dixie’s 78
per cent stake in Bahamas Super-
markets now approved by the Bank-
ruptcy Court in Jacksonville, only reg-
ulatory approval for BSL Holdings

| Bahamas can ‘hold

Government approval likely after removal of Neal & Massy
from $54m offer, but replacement required by BSL Holdings

from the Bahamian authorities
remains.

This has been made much simpler
by the removal of Neal & Massy
Holdings, the Trinidadian industrial
conglomerate that was the foreign
ownership component, from the BSL
Holdings bid team.

This has removed a potentially

tricky task for the Government,
namely having to approve an acquisi-

tion involving a foreign company ina -

sector of the economy reserved for
100 per cent Bahamian ownership
under the National Investment Policy.
Now, BSL Holdings will only require
Exchange Control approval from the
Central Bank of the Bahamas.

The Tribune understands that Neal
& Massy was removed from the BSL
Holdings investor group due to Winn-

Dixie’s concerns that the need to
obtain Bahamian government
approval might hold up the sale’s
completion.

Winn-Dixie is in Chapter 11 bank-
ruptcy protection in the US, and the
grocery retailer and its competitors
will want to receive the $54 million
purchase price as rapidly as possible,
not have it held up in the Bahamian
government’s approval process.

The removal of Neal & Massy will
create advantages as well as a down-
side for the BSL Holdings bid. The
absence of any foreign ownership
component has removed the final
trump card that was held by rival bid-
der, BK Foods, which was previously
able to portray itself as an all-Bahami-
an bid.

However, the loss of Neal & Massy

means that the BSL Holdings bid has
had to be restructured at short notice.
It is understood that the Trinidadian
firm was going to take a 40 per cent
stake in the bid, and their absence
means that BSL Holdings will have to
attract additional sources of Bahami-
an-based financing, either equity part-
ners, debt or a combination of the
two.

Meanwhile, Mr Sunderji said yes-
terday: “We are very pleased to have
advised the investor group and suc-
ceeded in acquiring City Markets at a
fair price, and are looking forward to
closing swiftly on the transaction.

“We expect the transition to be
seamless. We don’t expect to see any
significant changes in the way the
company is operated and managed.
We’re quite happy with this.

“There are no plans to do anything

dramatically different. Don’t try to —

fix what is not broken. It’ll be business

as usual. There are no fundamental —

changes that are likely to take place.
It’s steady as she goes. Nothing is
going to change.”

Although leading Abaco Markets
shareholders, including its chairman
and chief executive Craig Symonette,
Frank Crothers, and Franklyn But-
ler are among the investors in BSL
Holdings, The Tribune was told they
are several among many. Mr Symon-
ette was said not to be among the
principals. ik

The Tribune was the first to reveal
that Fidelity was advising and struc-

SEE page 5B

Central Bank bids to reduce exchange control red tape.

our ground’ over
tax exchange deals

@ By CARA BRENNEN
Tribune Staff Reporter



THE Bahamas has the stan-
dards in place to accommodate
any Tax Information Exchange
Agreement (TIEA) that was
in its best interests to sign, the
Ministry of Finance’s legal
adviser said yesterday.

Speaking at a Bahamas Insti-
tute of Financial Services sem-
inar, Rowena Bethel, who is
also the Compliance Commis-
sion’s executive commission-
er, said that the Bahamas had
the ability to “ hold our
ground” in the face of further
requests for TIEAs from mem-
bers of the Organisation for
Economic Co-Operation and
Development (OECD).

Ms Bethel said that in her
view, when it came to TIEAs,
the Bahamas stood head and
shoulders above other juris-
dictions.She also predicted that
the issue of TIEAs would not
go away, but would increase

in the future.

_ She said the Bahamas
remained on the right track, as
long as it continued to ensure

CSME
membership
might force
position change

there was appropriate aware-
ness in the industry.

Ms Bethel added that in
2002, the Bahamas signed a
provisional commitment to the
OCED’s ‘harmful tax prac-
tices’ provided it created a ‘lev-
el playing field’.

She said that in the world of
tax information exchange, it
was very difficult to create a
standard on how things should
proceed.

Instead, she said it was real-
ly a bilateral issue, with the
exception of trading blocks
whose members would ‘have
all agreed on a position.

Should the Bahamas sign on
to the Caribbean Single Mar-
ket Economy (CSME), Ms
Bethel added, the country
would have to give serious
thought to its position.

Grand Bahama firms
lose key employees

GRAND Bahama’s already
depressed economy has been
further harmed by the Immi-
gration Department’s new
approach towards work permits,
_ the Haitian-Bahamian Society’s
‘president has told The Tribune,
with companies losing key
employees, including some who
‘ have had up to 18 work permit
renewals.

Jetta J. Baptiste-Polynice said
‘she knew of one janitorial busi-
ness where five of its best
‘employees were deported. She
‘added: “They have contracts
‘they are no longer able to fulfill,
‘can’t meet the clients’ require-
ments, so they'll go out of busi-
-eness.”

Ms Baptiste-Polynice said of
the impact on Grand Bahama’s
economy: “We’re at the bot-
, tom. No one is making any
money: A few businesses are
trying to survive, and they’re
having to go through this.

“Why is the Government
constantly trying to destroy the
few business establishments that

are struggling to make it in an
already depressed economy of
Grand Bahama?”

The Tribune reported earlier
this week that Grand Bahama
businessmen and Port Authori-
ty licencees were complaining
that the Department of Immi-
gration’s new approach to con-
sidering, granting and renewal
of work permits was causing
problems for their companies
and the wider economy.

Ms Baptiste-Polynice told
The Tribune that the new
approach was “creating a prob-
lem all around”, with Immigra-
tion Officers allegedly picking
up workers employed as dish-
washer and cooks in Port
Lucaya restaurants, and doing
searches and raids on construc-
tion sites.

She added that the Immigra-
tion Department had yet to ful-
ly explain what its new policies
were, with different interpreta-

SEE page 4B

@ By CARA BRENNEN
Tribune Statf-Reporter

THE Central Bank of the
Bahamas has introduced a num-
ber of measures to eliminate the
red. tape and paperwork asso-
ciated with the exchange con-
trol approvals process, its gov-
ernor Said yesterday. —

Acknowledging that the Cen-
tral Bank supports a general
phasing in of relaxed exchange
controls, Wendy Craigg told a
Bahamas Institute of Financial
Services seminar that it want-
ed to streamline certain proce-
dures to make the process more
efficient for both sides.

She said the Centra! Bank
had introduced a number of



$

relaxation measures,
in specific-cases grant-
ing approval for per-
sons on work permits
to receive a blanket
approval for the entire
duration of their per-
mit, allowing them to
send 50 per cent of
their income out of |
the Bahamas to cover
normal commitment —
expenses.

In other cases, Mrs
Craigg said Bahamian
franchise holders could give the
Central Bank a projection of
their franchise fees for the year.
Rather than have to make sev-
eral applications to pay them
over short timeframes, they



mW CRAIGG

_ approval, for a longer
period.

In addition, the

Central Bank is work-
ing with the holders of
overseas loans to
ensure there is debt
servicing for approved
loan commitments
_ once the proper docu-
ments are presented.
_ “We are trying to
get the process more
streamlined for us and
for them because, as you can
imagine, we are inundated with
paperwork,” she said.

Ms Craigg also explained that
the Bahamas International
Securities Exchange (BISX)

could receive blanket

was in the process of completing
the framework that would allow |
Bahamian companies to list; on’
CARICOM stock exchanges,

equity equivalent to 10 per cent
of the issue amount, up to a val-
ue of $20 million.

Mrs Craigg explained that
this came as a result of a Capital
Market Study done two years
ago which, when completed,
recommended that there be
stronger ties with CARICOM.

The framework is expected
to be completed by year end,
she added.

Mrs Craigg said that while the
Bahamas remained challenged
by the effects of globilasation,
the country’s prospects seemed
quite encouraging.



ae a
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PAGE 2B, FRIDAY, MAY 19, 2006

THE TRIBUNE ‘23?



BUSINESS



Get creative when financing business.

find what you have. You may have
stocks and shares, jewellery, elec-
tronics, furniture, cars, motorcycles,
boats, timeshares and properties, all
of which can be used to finance your
business.

Then start selling your stuff. There
are many ways of doing this now.
With the power of the Internet, you
can e-mail a list of items to your
friends with one click of your finger.
Then try selling the remainder in a
jumble sale. You can also use Internet
auction sites, such as EBay, as a sur-
prisingly easy way to dispose of your
assets to the widest possible market.

Option two is to downsize your car.
Do you really need that big gas-guz-
zling car that is expensive to insure
and run? Consider selling it and get-
ting something smaller. If you own
your car, try to release more equity
by leasing a smaller car with a small
down payment, if possible. This cre-
ative form of financing will net more
money, although you will be left with
a monthly payment. This will also
show your, prospective investors that
you are serious about your business
venture.

Option three is to collect your
debtors. If anyone owes you money,
this is the time now to practice your
accounts receivable function, a skill
that will prove helpful in your busi-
ness going forward.

hen you are start-
ing out as self-
employed or a
business owner,
one of your biggest
challéibes will be raising sufficient
- capital to get your business off the
_ ground.
- You will need to find some seed
money to demonstrate to your family
and friends, and other investors, that
_ you are worth investing in. This infu-
- sion of money that turns your idea
into something tangible is known as
start-up financing.

Options

The good news is that there are sev-
eral options available to you to get
your: business venture going.

The first option is to start selling
_» your.assets. Make a list of the things
+. you ‘own and work out a disposal
| Ae schedule. You may be surprised to

AIAG %

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‘preneurs, this is a tried and tested

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that it is quick and easy to do. The dis-
advantage is that it is a very expensive
way of borrowing. Yes, you can often
make small monthly payments to car-
ry a lot of credit card debt, but the
repayment rates are high and this
should only really be seen as an inter-
im solution while you raise funds for
your venture. And, if things go well,
your business can quickly repay the
loans to reduce your credit card debts
to their earlier levels.

Borrow

Option five is to borrow against
your home. If you have equity in your
home, this is a tried and tested
method of releasing money for your
business venture. If you have a prop-
erty worth $300,000, and have an
existing mortgage of $100,000, you
can apply to have your mortgage
amount increased. This.is a great way
of releasing funds, although you will
be left with a higher monthly mort-





















gage payment going forwards.

Try to avoid a second mortgage, as
this will often attract a higher interest
rate. If your existing bank won’t help,
then shop around and refinance with
another bank or mortgage company.
The market is very competitive and
you may even be able to increase your
mortgage and yet keep your payments
the same.

Whether it is a home equity loan or
a refinancing process, you should put
some of the money aside to meet your
monthly payments until your busi-
ness is able to pay you a sensible
salary. This process carries much risk,
as business failure could render your
homeless, so think carefully before
you try this option.

Option six is to borrow against your
Insurance Policy. If you have a whole
life policy, then you may be able to
borrow against the cash value of your
policy. The amount you can borrow
depends on the individual insurance
company, but some insurance com-
panies allow you to borrow amounts
up to 90 per cent.

So, write to your insurance compa-
ny requesting a loan. Loans are nor-
mally reasonable and may even be
cheaper than a bank loan. Make sure
you keep up with your monthly pay-
ments so that your policy keeps cur-
rent. Also, take advice and find out
how this loan will affect your benefi-
ciaries if and when you die.

Option seven is to borrow against

50 EASY TO

e

your investments. If you have stocks. .
and shares, you may be able to bor-,
row against them, or use them to.
secure a loan. But there are risks. If.
your stocks and shares decline, you
may well have to put up more stocks, ,
and shares, or margin to stop you ;
from defaulting on your agreement.

Retirement

Option eight is to borrow against +
your retirement plan. If you live in .,
the US, then it will be possible to bor-)_:
row against your employer’s pei
retirement plan. If there is a similar: :
type of plan available at your place of «|
work, check to see if you can borrow < ‘
against it. As you can see, there are’
several ways for you to come up with ‘

seed money for your venture. Cre- \

ative financing will show your poten-’!”
tial investors that you are prepared to â„¢!
put your own assets on the line. So, in‘? !

order to avoid the trap of antipreneur-’ ° ~~

ship, make sure you spend time in
this area to help get your business of

' the ground.

NB: Adapted from his upcoming * 2
book, Antipreneurship And How to £
Avoid It, Mark draws on 20 years of.
top level business, marketing and
communications experience in Lon- |
don and The Bahamas. He consults ©
and currently lives in Nassau, and can ~*-
be contacted at: markalex- }
palmer@mac.com oR

© Mark Palmer. All rights reserved

IVE & FORGET"

Interest Rate
Lam (en Grirc hs

hh a



Assisting in developing and implementing a local Anti- Fraud Plan’ which includes stat taininhe



e- Play an active role in monitoring, containing and eradicating reported ‘and emerging control issues
i as ‘well as the status of corrective action plans and escalating any slippages to senior management.

° Verifyin that operational procedures and’ internal controls exist fot ¢ évery: product and service
provided by the bank, commensurate with level of inherent risk through peroidic
independent testing. —



rrverervere



¢ . Reporting to Senior Management on the adequacy and efficacy of the system of internal control
(accounting, operating and administrative).





Interested applicants may deliver, fax or e-mail resumes to:




‘Business Head

. Citigroup Corporate and Investment Bank
4th Fir., 110 Thompson Boulevard,
Nassau, The Bahamas

. Fax:(242) 302-8569

==" ertigroup)

Resumes should be recieved by June 1, 2006

eepererre




Scotiabank’s 'Forgive & Forget’ Mortgage Campaign

To celebrate our 50th year in The Bahamas, Scotiabank is giving
away $50,000 im prizes.

Down-paymentt as low as 5% (with Mortgage lindemmnitty linswrance)
Campaign ruins until bully 14 2006

Call or visit us today and let Scotiabank help you to ‘Forgive & Forget”

eerie

Life, Money, Balance thiath

Teaches co TIN ae ol Nba SOND: TANNA ROS ALN Ra RIOT A TH Rates tC TE,

“In order to stay abreast

of what’s happening in
the local economy, we ' eb EEN
turn to The Tribune as MONDAY TO FRIDAY
our source of information.

The Tribune is my

newspaper.”

The Tribune
Uy Voice, Ply Howpapor!

TROY SAMPSON
APPROVED LENDING SERVICES




THE TRIBUNE

FRIDAY, MAY 19, 2006, PAGE 3B





US eyes lifting its drilling ban:

@ By H. JOSEF HEBERT
Associated Press Writer

WASHINGTON (AP) —
The House on Thursday debat-
ed whether to end a quarter-
century ban on offshore oil and
gas development in coastal
waters outside the'western Gulf
of Mexico, weighing arguments
that new supplies are needed to
lower energy prices.

The drilling ban was removed
from a $25.9 billion Interior
Department spending bill in
committee as it applies to nat-
ural gas and an amendment,
offered on the House floor on
Thursday, would lift the mora-
toria-on offshore oil drilling as
well.

Supporters of the drilling
moratoria, first imposed in 1981
and renewed by Congress each
year since, scrambled to try to
restore the natural gas provi-
sion and also defeat the amend-
ment on oil drilling as lawmak-
ers moved toward a late-night

final vote on the spending leg-
islation.

The provisions for the first
time in 25 years would allow oil
and gas development within
three miles of shore along
coastal areas “where tens of mil-
lions of our citizens have made
it clear that they don’t want any
more drilling,” said Rep. Lois
Capps, D-Calif.

Capps planned to offer an
amendment to continue the
drilling prohibitions.

Florida lawmakers — both
Democrats and Republicans —
said energy development off the
state would threaten a multibil-
lion dollar tourist industry.
Florida depends on tourism
“and we’re going to protect it,”
vowed Rep. Alcess Hastings,
D-Fla.

Opponents of the drilling
moratoria argued that access to
offshore oil — and especially
natural gas — would drive
down energy prices and help
reduce the country’s depen-

dence on foreign sources of
energy.

“We have lost millions of jobs
already because of high energy
costs and we’re going to lose
millions more,” said Rep. John
Peterson, who has argued for
lifting the ban on natural gas
drilling.

Soaring natural gas prices,
which have quadrupled since
1999, have forced companies —
especially in the chemical and
fertilizer industries — to con-
sider moving overseas where
fuel prices are much cheaper,
he said.

Peterson’s measure would lift
the congressional ban which
prohibits the Interior Depart-
ment from offering oil or gas
leases in waters along both
coasts and in the eastern Gulf of
Mexico.

But it would not affect a pres-
idential moratoria, issued by
executive order; that is in effect
until 2012.

Drilling proponents also

US mortgage rates
hit four-year high

@ By JEANNINE AVERSA
AP Economics Writer

WASHINGTON (AP) —
Rates on 30-year mortgages
climbed this week to their
highest point in nearly four
years, helping take the exu-
berance out of the housing
market.

Freddie Mac, the mortgage
company, reported Thursday
that forthe week ending May
18 rates on 30-year, fixed-rate
mortgages averaged 6.60 per-
cent, up from 6.58 percent last
week.

This week’s rate was the
highest since the week ending
June,20, 2002, when_30-year
mortgages ‘stood at 6.63 Pern.
Certts aii Mas

arn nbn oama =

“While financial markets try
to decipher the spate of recent-
ly released economic reports,
mortgage rates drifted slightly
higher,” said Frank Nothaft,
Freddie Mac’s chief economist.
“The current debate is
between rising inflation and
slower consumer spending.
Until the market finds out
which influence will be the
strongest, mortgage rates
should continue to fluctuate,”
he said.

Other rates also went up this
week.

Rates on 15-year, fixed-rate
mortgages, a popular choice
for refinancing a home mort-
gage, rose to 6.20 percent, up
- from 6.17, percent Jast week.



in

(No. 45 of 2000)

: er |

iof Dissolution has been.

siied and the Compafiy ‘Has feria been

struck off the Register. ‘The date of completion of the dissolution was

the 11th ay of ey, 2006.

TST



Major International Bank is seeking a

SENIOR INTERNAL
CONTROLLER

Position:

Applies head office control methodology and program
Performs key controls based on risk assessment
Communicates findings to persons in charge
Follows-up on errors and irregularities to check for
implementation of recommendations and corrections
Participates in the assessment and improvement of

procedures

Reports to the Audit Committee, Head Office and

Senior Management

Requirement:

3 to 5 years experience in an international audit firm
Detailed knowledge of auditing principles
Dynamic, self-stater with motivation and initiative,
able to manage multiple and sometimes competing

priorities.

Ability to deal easily with all levels of management
Clear oral and written communication skills

Team player
Computer literate

Remuneration:
¢ Commensurate with the candidate experience

Candidates are invited to send their
resume and a motivation letter to

P.O. Box CR-56766
Suite #373
Nassau, Bahamas



hybrid:

adjustable-rate mortgages,
rates edged up to 6.23 percent
this week, compared with 6.22
percent last week.

However, rates for one-year

adjustable rate mortgages aver- °

aged 5.62 percent this week,
unchanged from last week.
Higher mortgage rates are
slowing home sales. For five
years in a row, home sales hit
record highs as low mortgage
rates beckoned buyers.
Federal Reserve Chairman
Ben Bernanke, speaking in
Chicago Thursday, noted the
slowing in both home sales and
residential construction. “It
seems pretty clear now that the

larket is cool-.

> Our-agsessment at lena
vee Tas that this looks tobe’
“a very “orderly and moderate

point:
‘kind of cooling,” Bernanke
added.

The mortgage rates do not

A include add-on fees known as
“points. The one-year ARM

carried a nationwide average
fee of 0.7 point; the other three
mortgage categories each had

_an average fee of 0.5 point.

A year ago, 30-year mort-
gages averaged 5.71 percent,
15-year mortgages stood at
5.27 percent, one-year ARMs
were at 4.26 percent and five-
year ARMs averaged 5.07 per-
cent.

To advertise
ae t=)
eel ieee
call 322-1986

Pricing Information As Of:
18 May 2006

Abaco Markets

faced an uphill struggle to get
the moratoria lifted in the Sen-

‘ate, where senators from coastal



states likely could block any
such action.

President Bush has said he
has no plans to remove the
drilling ban.

But Capps said if Congress
lifts its moratoria and declares
that coastal waters should be
opened to drilling, she fears the
president “is going to revoke
his moratoria” as well.

The offshore drilling issue has
divided Congress largely along
geographic lines.

Lawmakers from coastal
states —both Republicans and
Democrats — worried that

CO REO RUD Tea

A bank and trust OUD EDY is accepting applications for a Compliance

Officer.

drilling offshore could threaten
their tourist and fishing indus-
tries and bring risks of environ-
mental damage.

“People don’t go to visit the
coasts of Florida or the coast of
California to watch oil wells,”
said Rep. Sam Farr, D-Calif.

But many lawmakers from
landlocked states favor devel-
oping the offshore energy
resources, arguing the huge
reserves of natural gas beneath
the waters of the Outer Conti-
nental Shelf from Alaska to
New England represents to
quickest way to gain access to
new gas supplies.

Separately, an attempt to
debate climate change — and

Knowledge/Skill Requirements

e Extensive working knowledge of compliance policies and internal

control procedures.

Detailed understanding of Bahamian financial legislation.
e Minimum 3 years supervisory experience in compliance and/or

Operations.



for the first time bring up for-é
vote the idea of mandatory caps”
on greenhouse gases — was
averted when a “sense of Con-
gress” resolution on the subject
was ruled out of order as part of .*
the Interior spending bill. >’
The climate provision offered
by Rep. Norman Dicks, D-
Wash., would have put law-

makers on record as agreeing ,- ,

that human actions were con-

=

eae
LF, |

ae9'9*

oo

tributing to global warming and. ,
that carbon emissions into. the. |

atmosphere should be limited.

The Senate approved a simi: * °
lar sentiment as part of anener- | -

gy bill last year, but it was

removed in negotiations with ”

the House on the bill.

i i.
>eReeeee aan

es

¢ Bachelors Degree with a concentration in Finance, Economics
Accounting or Law,
¢ Certified compliance, audit or internal control credentials or BACO
membership would be a plus.
e Superior analysis, communication (oral and written) and project
management skills.
e Extensive working knowledge or PC applications.

Duties

Developing / ensuring that an adequate AML/CFT and compliance
programs exists which suitably cover the risks associated with all
business activities, products and processes.
Administering the compliance program through the dissemination
of any relevant training programs or materials aimed at improving
the Bank and Trust Company’s compliance culture and adherence
to regulatory requirements.
Developing procedures for, and periodically executing, independent
in-depth testing of the effectiveness of business’ compliance with
applicable local laws, regulations and policies.

To ensure compliance with relevant legislation, group internal
policies and procedures.

Staff training.

Play an active role in monitoring, containing and eradicating
reported and emerging control issues as well as the status of
corrective action plans and escalating any slippages to senior

management.

Verifying that operational procedures and internal controls exist
for every product and service provided by the organization,
commensurate with level of inherent risk through periodic
independent testing.

administrative).

Bahamas Property Fund
Bank of Bahamas

Benchmark

Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings
Commonwealth Bank
Consolidated Water BDRs
Doctor's Hospital

Famguard
Finco

FirstCaribbean

Focol

Freeport Concrete

ICD Utilities

J. S. Johnson
Kerzner International BDRs

52wk-Hi 52wk-Low

Bahamas Supermarkets
Caribbean Crossings (Pref)

28.00 ABDAB

Bahamas Supermarkets
RND Holdings

Colina Money Market Fund
Fidelity Bahamas G & | Fund
Colina MSI Preferred Fund

1.286664*
2.7451 ***
2.329423**

Colina Bond Fund

52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close
Today's Close
Change - Change in closing price from day to day
Daily Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months
12 month earnings



sing price divid thi

- Previous day's weighted price for daily volume
- Current day's weighted price for daily volume

Colina

Financial Advisors Ltd.

Fax: 242-325-6765





RNa RSE
led by closing price

Bid $ - Buying price of Colina and Fidelity
Ask § - Selling price of Colina and fidelity.

Last Price - Last traded over-the-counter price
Weekly Vol.

- Trading volume of the prior week

Reporting to Senior Management on the adequacy and efficacy of
the system of internal control (accounting, operating and

Please fax your CV along with references to the attention of:
Chief Operating Officer



0.00%)
3.86%
4.80%
4.09%

Serer eesser



EPS $ - Acompany’s reported earnings per share for the last 12 mths
NAV + Net Asset Value

N/M - Not Meaningful








- 31 March 2006

%
seeeees ease

>> VPP Tee



7wvrVIeTTTe

ora ~s

ae a aa ae a aw aan es:

Fata F ad atta la a a ee a te ee
eeere

PAGE 4B,







IE aI a TT TT TT a Be Te DEE RE MS ST a

FRIDAY, MAY 1

ARNT NL OAL STC





af
é . ae ae ae i



2 aaeemineal oa Wes
sea eGR | Mayet

LEP LAME SEED: TPES ER REE TITY SP CRT

Dear Shareholders,

We present our financiai staten ending February 28, 2006.



With this, we are very ple ificant revenue increase in the
concrete pliant operat iillion for the first six months of this fiscal
compared to $1 milhon for the same period last year



rete plant in

na Rock facility.

This relocation
er our cost of

n production costs is we
> plant, which is

in addition, we have
Freeport from its cur
We expect to have this move coms
will significantly reduce ot UE
producing concrete. The major reason
will no longer have to truck sand and a
presently several miles away
Rock facility, these consid




rent site to it









SR YW asy¥



Turning to the Home Ce
six months this fiscal co
However, considering that we
the damaged leased Pee! 5S
building supplies, we are pleased that we
market share. Due to the lower nie



sare period last year.
ihe usable retail area of
imarily sell only
niain sales and



Mp







our overall gross profit margin
We are very excited that the new Hon e on Atlantic Drive in
Freeport is drawing close to completion anu we aie targeting to open yin our new



facility early summer 2006. Once in our new store. we : “pect our sales and

gross profit margins.to improve
imited and feel

right i future for Freendri { } frit iy i

We anticipate ab

confident that we are moving forward in

Ray Simpson
Chief Executive Officer
April 21, 2006

Freeport Concrete ¢

Cconsehidated Statersent 0}







Bmory ahs x sanded















Pebruary 2
Payroll costs L447 192
Other operating costs 513,146
Rent expense | 242 275
Advertising expenre 140, 420
‘Incorme/(ios
depreciation and amor 629 198
DBepn and amort. expe (423.131)
‘ Ie ‘

Pro cor car he? ME y “46 228
Minority interest in ga 3,787
467,304

Basic and i ' 0.099
poeonpeoe nen et srieinceieeseimmeesesiasiamanaett



Please note that the 6 months to Febrs VISION,
which was sold on August 317, 200 ;

SUSE HEE 93S mw waren

BUSINESS




inside the Bahama

9 milfion for the first

ugh tis affecting .

Grand Bahama firms lose key employees

FROM page 1B

- tions coming from every officer

asked.

The Tribune attempted for
two days running to contact
Shane Gibson, minister of
labour and immigration. On the
first day, he referred this news-
paper to Vernon Burrows,
director of immigration, who
did not return calls seeking
comment.

On the second day, neither
Mr Gibson nor Mr Burrows
could be contacted.

Previously, one business
source said it appeared that any
worker granted their first work
permit in 2004 or later was not
being granted a renewal.

In addition, work permit
holders who had legally
switched to new jobs with other
companies in 2004 and after
were being “denied renewals”
for no apparent reason.

To obtain a work permit
renewal, such workers are hav-
ing to leave the Bahamas, go
home and wait while their
employer reapplies for a per-
mit. Companies are often pick-

‘ing up the costs of flying

employees back home, then
bringing them back.

Ms Baptiste-Polynice ques-
tioned how the Government
could ask for work permit appli-
cations to be submitted from
the applicants home country
when there was no system or
infrastructure in place to accom-
modate this.

°



She said: “Will the minister
kindly tell us where in Haiti
can an immigrant go to apply
for a work permit? Who can
they see? What is the address
and phone number of the immi-
gration office in Haiti or any
other country, for that matter,
that is handling these matters?

“Why are they deporting per-
sons who have been here for
more than 49 years? Why are
they deporting persons who
have held more than 18 work
permits?.”

Ms Baptiste-Polynice said the
policy was also breaking-up
families, with wives unable to
gain spousal permit renewals.

However, some callers to The
Tribune backed the Govern-
ment for its hardline approach
to clamping down on illegal
immigration.

“TI feel the Government is on
track by putting all permits on
stop for now,” he said, arguing
that this would help to clear all
fraudulent permits and illegal
immigrants out of the system.

The caller added that he
knew of Bahamians looking for
jobs in the landscaping, gar-
dening and agricultural indus-
tries, but complained that
employers were not paying
attractive enough salaries.

Fred Smith, the outspoken
human rights campaigner-~who is
also a Grand Bahama Port
Authority licencee and busi-
nessman in Freeport, said the
sectors most affected by the
Government’s approach are
those that rely heavily on Hait-
ian labour, such as janitorial and

Freeport Concrete Company Limited
Consolidated Statement of Operations
Three months ended February 28, 2006

Outstanding shares = 4,708,334
(Expressed in Bahamian dollars)
3 months ended 3 months ended
February 28,2006 February 28, 2005
Sales 4,375,230 §,593,824
cost of sales 3,332,870 4,195,194.
Gross profit 4,042,368 4,398,530
Payroll casts 484,343 788,025
Other operating costs 285,998 208,439
Rent expense 109,153 143,027
Advertising expense 26,784 87,675
Ullities expense 70,197 64,980 -

Other income





income/(loss) before interest, taxes

LER TOG ATION and -amortigstion

Depn. and amort. expense

Nel financing Incorne/fexpense

Profit{Loss) before minority interest

Minority interest in gain



Net incomei(iass}



Esmings per share

Basic and diluted earnings/ (loss) per share $

Please note that the 6 months to February 28, 2005 figures include the Robin Hood division,

which was sold on August 31, 2008

Freeport Concrete Company Limited

Consolidated Balance Sheet



As at February 28, 2006
February 28, 2006 August 31,2005
Unaudited (Audited)

Cash 300,046 107,747
Time deposits 62,566 61,626
Accounts receivable, net 1,316,934 4,309,237
Due from former subsidiary shareholder 48,000 $77,500
Due from former subsidiary 224,250 578,800
inventories 1,856,615 1,861,349
inventories of spare parts and supplies 190,354 $2,143
Deposits and prepaid expenses 106,471 113,376
Total current assets 4,405,236 4,695,478
Fixed assets 3,223,434 2,997 002
Total assets 7,328,870 7,692,480 _

cnanmunaemnannanansnenneenncenneeeneeerernmernnremneeemeemeenseeesenteensteneneesasesnsecstecasecssiiaissitsstNittisibsstieAAeLteerneneCnntCtntCnCtCeCCCCeCeCentetteeent CCC Cee CCC CCC CCC CCC CCC CCA CC LCL

538 0,149).
648,908 7202,997
_ 02,482 195,633
(83,180) (64,463).
0,488 24,051)
(21.193) 110,083
0 —@,T28y
FOF 355

(@.005)

THE TRIBUNE









‘44 ‘

landscaping firms, the con‘
struction industry, maids, gar-
deners, and the agricultural
industry.

He urged that work permits
be used as a tool of national
development. He acknowledged
that while there was probably
10-15 per cent unemployment
among the Bahamian workforce

_ on Grand Bahama, “des Ay

their best efforts”, Port Auth
ity licencees were ‘unable to find
Bahamian workers for jobs they
considered “menial, low paying
and demeaning”.

Mr Smith said Governmen-
t’s immigration policy seemed
to be “generally throwing ‘up
roadblocks to the ordinary con-
duct of business” in Freeport
and Grand Bahama, further
depressing an economy still
struggling to recover from the
2004 hurricane season. j

He added:'“As a result of
what people have told me, I am
aware of hundreds of permit
applications that have been
refused, hundreds more that
have been deferred, and many
more requested to leave the
country before the application is
processed. ;

“It’s becoming a quagmire for
business in Freeport. It smacks
of economic irresponsibility for
the Government to be imple-
menting a policy that makes fio
sense in a depressed economy.”

Mr Smith said the Public
Treasury probably earned $10-
$15 million per annum ed
work permit fees on Gran
Bahama alone, ier ene ship
as “no small sum” ts





0.023



LIABILITIES
Bank overdraft 759,243 320,532
Accounts payable and accrued

expenses 2,101,895 2,791,916
Warranty Provision 15,809 45,809
Current portion of jong tenn debt 77 042 177,788
Total current liabilities 2,953,989 3,306,045
Long term liability 635,664 $18,223
SHAREHOLDERS’ EQUITY
Share Capital 47,083 47,083
Contributed surplus 5,774,868 5,774,868
Appraisal excess 1,433,867 1,433,867
Retained eamings © BO) (3,385,606)
Current eamings (131,195)
Total equity 3,738,017 3,870,212
Total liabilities and

shareholders’ equi 7,328,670_7,602,480

'
=)
THE |HIBUNE

FRIDAY, MAY 19, 2006, PAGE 5B

‘Seamless transition’ for
winning City Markets bid

_ FROM page 1B

lrg a rival bid, and that.both
the three Abaco Markets
shareholders and Neal &
Massy were involved.

The minority 22 per cent
stake that the public holds in
Bahamas Supermarkets, and
which is traded on the over-
the-counter, market, will
remain in public hands.

,The company will remain as
a standalone entity, and there
are.currently no plans to merge
it with Abaco Markets, The
Tribune has learned,

.BSL Holdings will take its
time to assess the business
before deciding what to do

with it and whether any ©

changes are necessary. It is
likely that there will be a tran-
sition services agreement, with
Winn-Dixie providing man-
agement services for one year.
¢. Under the transition services
agreement with BK Foods,
Winn-Dixie was due to get a
$4 million flat fee, plus the cost

of all goods provided with a 5
per cent mark-up on top of
that.

BK Foods, which submitted
the initial $50 million offer for
Bahamas Supermarkets, which
operates 12 stores under the
City Markets and Winn-Dixie
brands, decided not to increase
its offer to match the $54 mil-
lion offered by BSL Holdings.
This was because it believed
any higher offer would over-
value the company.

Jerome Fitzgerald, a BK
Foods director, told. The Tri-
bune: “We put in what we
thought was a fair price, and
obviously the other. group saw
more value in it. We wish them
the best.”

Among Mr Fitzgerald’s part-
ners in BK Foods were entre-
preneur Mark Finlayson and
ex-Burns House chief financial
officer Phillip Kemp. It had
been suggested by several
sources that BK Foods did not
have its financing in place for
Tuesday’s auction of Winn-
Dixie’s stake in New York, but
those close to the losing bid-

der denied this.

BK Foods will have its $5
million deposit returned to it,
in addition to a $1 million
break-up fee as part of the
original deal it struck with
Winn-Dixie.

Several sources have sug-
gested that the winning bidder
could be massively overpaying
for Bahamas Supermarkets,
valuing it at between $30-$35
million at most.

This is because the company
owns none of its 12 stores or
headquarters, leasing all the
properties, which means that

the buyer will gain an operat- .

ing business, fixtures and fur-
nishings, only.

However, the value of Winn-
Dixie’s stake is based on the
price Bahamas Supermarkets
shares trade at on the over-
the-counter market.

BK Foods' $50 million offer
for Bahamas Supermarkets
valued Winn-Dixie's 78 per
cent stake at $14.1 per share,
compared ‘to the $11 price at
which the stock last traded on

the Over-the-Counter market.

BAHAMAS DEVELOPMENT BANK

Cable Beach, West Bay Street, P.O. Box N-3034

New Providence

Lot#13 (5,000sq. ft) w/duplex
(1,344sq. ft) wh trim lime gi-
Bancroft Ln Bamboo Town
(Appraised Value $147,000.00)

Vacant lot #1038
(6,000sq .ft.) -
Garden Hills #3.

(Appraised Value $35,000.00)

Lot #109 w/hse
60x70' - Craven
St Ridgeland Park

(Appraised Value $80,000.00)
Lot #52.(4,000sa. ft.) w/hse
(845sq. ft.) - Water St-Big Pond
(Appraised Value $65,000.00)

Lot #171 (171'x100') w/two

Nassau, Bahamas

Tel: (242) 327-5780/327-5793-6
Fax: (242) 327-5047, 327-1258
www.bahamasdevelopmentbank.com

PROPERTIES LISTED FOR SALE

Grand Bahama

Lot #9 with house (3) Bedrooms,
(1) Bathroom and an Incomplete split ioral

extension west Pinedale Rd Pinedale,

EMR Freeport, Grand Bahama.

(Appraised Value $95,000.00)
Vacant Lot #8 Blk

#12 Unit #3

(11,250sq. ft.) -
Henry Ave Derby Subdivision

Freeport Grand Bahama

Abaco

Lot #54 (6,500 sq. ft.) with triplex foundation

in Murphy Town, Abaco.
(Appraised Value $29,916.00)

Eleuthera

story building- East St opposite

Deveaux St.

Appraised Value $300,000.00)

Lot #27A (55' x 90’)

15.Property 31'x111'

with house Lord Street in the settlement of

Taprum Bay Eleuthera.
(Appraised Value $45,000.00)

w/ |ncomplete split level hse-

Boatswain Hill or Bosun Hill
(Appraised Value $139,580.00)

Vacant lot 11,659 sq. ft.-

Vacant Lot#144 (12,320sa. ft) -

Thompson Street Danottage Estates

Subdivision.

(Appraised Value $86,000.00)

North Palmetto Point
_ (Appraised Value $9,000.00)

Cat Island
Property with twelve (12) room motel 1.39

acres- In the settlement of Arthur's Town,

Lot#39, BIk #35 (2,500sq ft).
w/wooden:Hse #64°- .
Lincoln Blvd, Englerstone Sub.
(Appraised Value $52,000.00)

Andros

Property (4,344 sq. ft.) with duplex
(1,174 sq. ft) in the settlement of
Fresh Creek, Central Andros.
(Appraised Value $73,258.00)

Lot #119 (22, 500sq. ft.) with a

‘single story complex (3,440'sq. ft.) - Sir
Henry Morgan Dr Andros Beach Colony
Subdivision Nicholl's Town Andros
(Appraised Value $147,700.00)

Vacant Property

100' x 150’ in the settlement of
Pinders, Mangrove Cay South Andros
(Appraised Value $22,500.00)

Cat Island
(Appraised Value $1.3 Million Dollars)

Exuma

_ Lot #134 (4,350 sq. ft.) with two story
building 4,160 sq. ft, apartment upstairs
and shop downstairs, George Town Exuma.
(Appraised Value gaa a 0

Vacant Lots

#7747R & 37747S

160'x125'-

Florence Dr., Bahama Sound

No.2 Exuma:

(Appraised Value $60,000.00)

Lot#43 (9,000 sq. ft.)

with house- Matthew Town

Inagua Russell Street.

(Appraised Value $120,000.00)

ASSETS

Electronic Equipment

(1) Compaq Presario Computer Monitor @ Tower

(1) Whirl Microwave
Tec Cash Register

Machinery

(1) Food Mixer’

(1) Wall Tv Stand

(1) Chrome Juice Filler
(1) Multi Fruit Juicer
(1) Chrome Mixer
(1) Deli Showcase

Vessels

29' Pheonix w/engines (Jannette 2)

29' (1983) Vessel (Lady Rece)

28' Carver Vessel/ Hull Only

48' North Carolina Hull (1989)

52' Halteras Fibre Glass (1979) MV Buddy

122' Single Screw Steel Hull (1960) MV Lisa III

Tables
(1) Wood Table (Round)
(1) Marble Table (Rectangle)

Cooler/Freezers

(1) Two Door Chest Freezer

(1) One Door Chest Freezer

(1) Blue Coleman Cooler

(2) Double Door Coolers

(1) Three Door Cooler

(1) Three Door Steel Freezer

Vehicles

(1) 03 Yumbo 125¢¢ Motorcycle
(1) 96 Ford Explorer

(1) 97 Dodge Stratus

(1) 99 GMC Truck

(1) 2001 Hyundai H-100 Bus

COOKING UTENSILS POTS, PANS & PLATES DRY CLEANING EQUIPMENT

Serious Inquires only. Sealed bids marked "Tender" should be submitted to Bahamas Development
Bank, P.O. Box N-3034, Nassau, Bahamas or telephone 327-5780 for. additional information.
Please note that all bids on the aforementioned properties and assets should be received by
May 26, 2006 the Bahamas Development Bank reserves the right to reject any or all offers. All

assets are sold as is.



Bank of The Bahamas

INTERNATIONAL

FINANCIAL PERFORMANCE FOR THE NINE-MONTH PERIOD ENDED MARCH 31, 2006
WITH YEAR OVER YEAR COMPARISON

Underpinned by continuing favourable economic conditions the Bank achieved broad based
record financial performance.

Total Assets stood at a record level of $524,394,059 representing growth of 31.95% over the
same period last year. This Asset growth was driven primarily by Loans and Advances to
Customers which climbed 41.59%, year over year, to $434,528,769.

The impressive Asset growth of the Bank has translated into record operating performance. The
nine-month results have already surpassed total performance for all of last year with Net Income
amounting to $7,804,941 representing a 36.15% increase over the same period last year. For
the quarter ended March 31, 2006, Net Income totaled $2,803,899, an increase of $1,354,849
(or 93.50%) over the same period last year.

The strong overall financial performance has resulted in improvements in Retum on Assets
(ROA) and Eamings Per Share (EPS) each of which settled at 2.26% and 50 cents respectively.
Retum on Equity (ROE) rested at 17.89% reflecting the impact of the Bank’s recent successful
$25 million Rights Offering.

The Bank acknowledges that such unprecedented growth brings with it new challenges, but
equally, fresh opportunities. Therefore, we have commenced actions towards the fulfillment of a
service quality objective aimed at delivering an unmatched customer lifecycle experience. To
support this initiative we have started the process of migrating to a new comprehensive core

software solution. This seamless exercise, complemented with our commitment to
acquire best-in-class expertise and skills and the Country's progress towards the horizontal
modernization of its financial infrastructure, will pave the way for the Bank’s tateiemat of) toa
financial enterprise.

We thank our loyal staff for their steadfast commitment to success and our directors for prudent
and sound guidance. Of parallel importance we are thankful of the support given by our
expanding customer and shareholder base and pledge to promote the goodwill of all
stakehojders.



BANK OF THE BAHAMAS LIMITED
CONSOLIDATED BALANCE SHEET
AS OF MARCH 31, 2006

sed In Bahamian dollars)

MARCH MARCH June

31, 2006 31,2005 30, 2005
ASSETS
Cash and due from banks $ 37,530,687 $ 34,176,873 $ 58,391,204
Investments, Loans and Advances to Customers, net 467,178,027 346,522,479 ‘ 377,961,676
Other Assets 19,685,345 16,724,633 16,792,294
TOTAL Eisen, SE seraaies, Fase
ABILITIES
Deposits from customers and banks 419,179,037 331,696,353 381,280,413
Bonds Payable ' Ht 000 17,000,000 17,000,000
Other Liabilities 15,032,025 5,694,210 10,547,828
Total Liabilities 451,211,062 354,390,563 408,828,241
SHAREHOLDERS’ EQUITY
Share Capital

Authorized - 25,000,000 preferred sheres of $8 1,000 each
-25,000,000 common sheres of $B1 each

Sateen pat = 15,600,000 common shares (2005:12,000,000) 15,600,000 12,000,000 12,000,000
Share Premium 28,587 866 7,589,064 7,589,064
Treasury Shares 9 (252,699) (264,850) aaa
General Reserve 1,400,000 1,400,000 400,000
Retained Eamings 27,847,830 22,309, os 592,139
Total Shareholders Equity "S_73,182,997_ 43,033,422 _$ 44,316,933
TOTAL Eseisoense 1S 397,423,985 $ 453,145,174

CONSOLIDATED STATEMENT OF INCOME
9 MONTHS ENDED MARCH 31, 2006

(Expressed in Bahamian dollars) :

2006 2005
NET INTEREST AND OTHER INCOME:
Interest Income $ 26,047,423 $ 19,834,179
Interest Expense 9,596,989 8,156,646
Net Interest Income 16,450,434 11,677,533
Less Net Provision for Loan Losses 1,821,719 468,829
Net Interest Income after Provision for Loan Losses 14,628,715 11,208,704
Non-interest Revenue 5,307,533 3,500,977
Income from Investments : 1,116,276 1,558,909
Net Revenue 21,052,524 16,268,590
NON-INTEREST EXPENSES 13,247,583 10,535,791
NET INCOME $ 7,804,941 $ 5,732,799
EARNINGS PER SHARE $ 0.50 $ 0.48
BANK OF THE BAHAMAS LIMITED

CONSOLIDATED STATEMENT OF INCOME
3 MONTHS ENDED MARCH 31, 2006

(Expressed in Bshamian dollars)

2008 2005
NET INTEREST AND OTHER INCOME:
Interest Income ' $ 9,563,970 $ 6,362,536
Interest Expense __- 3,318,375 2,759,533
Net Interest Income 6,245,595 | 3,603,
Less Net Provision for Loan Losses : 490,156 72,919
Net Interest Income after Provision for Loan Losses - 5,755,439 3,530,084
Non-Interest Revenue 1,116,035 1,183,230
Income from Investments 687, 687,975
Net Revenue 7,559,449 5,401,289
NON-INTEREST EXPENSES 4,755,550 3,952,239
NET INCOME $ 2,803,899 $ 1,449,050
EARNINGS PER SHARE $ 0.23 $ 0.12

CONSOLIDATED STATEMENT OF CASH FLOWS
9 MONTHS ENDING MARCH 31, 2006 :

(Expressed in Bahamian dollars) :

2006 2005
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 7,804,941 $ 5,732,799
Adjustments for non-cash items 01 1,336,498
10,818,203 7,069,297
Net change in operating asscts (47,930,022 (1,221,855)
Net cash (used in) provided by operating activities (37,111,819) 5,847,442
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of fixed assets (679,937) (2,607,488)
Purchase of investments (3,462,000) » (20,234,000)
Proceeds from maturity of investments ___100,000- 6,116,300 _-
Net cash used in investing activities (4,041,937) (16,725,188)
CASH FLOWS FROM FINANCING ACTIVITIES: i
Dividends paid (4,305,563) (2,032,435)
Rights Offering 24,598,802 A
Net cash provided by. (used in) financing activities 20,293,239 (2,032,435)
NET DECREASE IN CASH AND CASH EQUIVALENTS é
DURING THE PERIOD (20,860,517) e (12,910,181)
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD 58,391,204 47,087,054
END OF PERIOD $ 37,530,687 $34,176,873

=

BANK OF THE BAHAMAS LIMITED
NOTES TO CONSOLIDATED INTERIM CONDENSED FINANCIAL STATEMENTS
9 MONTHS ENDED MARCH 31, 2006

1. ACCOUNTING POLICIES

These consolidated interim condensed financial statements are prepared in
eerorennee with IAS 34 Interim Financial-Reporting. The accounting polices used in

preparation of these consolidated interim condensed financial statements are
ie Li with those used in the annual financial statements for the year ended June
30, 2005.

The consolidated interim condensed financial statements include the accounts of
Bank of the Bahamas Limited and its wholly owned subsidiary, Bank of the Bahamas
Trust Limited.

2. COMPARATIVES

Certain comparative figures have been restated to comply with the current year’s
presentation.
ARE Ae

Rh eS eee WE DE ee Cy

Adee de dees 44D 4S

PAGE 6B, FRIDAY, MAY 19, 2006

Deloitte.

Deloitte & Touche

Chartered Accountants

and Management Consultants
2nd Terrace, Centreville

P.O, Box N-7120

Nassau, Bahamas

Tel: + 1 (242) 302-4800
Fax: +1 (242) 322-3101
http://www.deloitte.com.bs

INDEPENDENT AUDITORS’ REPORT

To the Shareholders of
Metropolitan Bank (Bahamas) Limited:

We have audited the above balance sheet of Metropolitan Bank (Bahamas) Limited (the “Bank”) ag
of December 31, 2005. This balance sheet is the responsibility of the Company’s management. Out
responsibility is to express an opinion on this balance sheet based on our audit. i
We conducted our audit in accordance with International Standards on Auditing. Those Standards
require that we plan and perform the audit to obtain reasonable assurance about whether the balance
sheet is free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the balance sheet. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the
overall balance sheet presentation. We believe that our audit provides a reasonable basis for our
opinion.

In our opinion, the balance sheet present fairly, in all material respects, the financial position of the
Company as of December 31, 2005, in accordance with International Financial Reporting Standards.

Delile ¢ Toul

February 3, 2006

METROPOLITAN BANK (BAHAMAS) LIMITED
CONSOLIDATED STATEMENT OF INCOME

YEAR ENDED DECEMBER 31, 2005
(Expressed in United States dollars)



2005 2004
US$ US$
ASSETS"
Bank balances
Group companies (Note 10) - 1,417,929 435,791
Others 15,895,978 2,571,702
Loans and advances to customers (Note 3) - 1,280,183
Investments in securities (Note 4) 15,992,494 = 12,993,409 _
Investments in associated companies (Note 5) 13,143,645 12,482,471
Interest receivable and other assets 168,635 201,550
Fixed assets (Note 6) 9,338 5,145
TOTAL 46,628,0 19 29,970,25 1
LIABILITIES
Deposits from group companies (Note 13) - 2,048,021
Deposits of customers 25,170,323 8,314,621
Interest payable (Note 13) 95,687 31,778
Other payables and accrued liabilities 17,575 39,095
Total liabilities 25,283,585 _ 10,433,515
SHAREHOLDERS' EQUITY:
Share capital (Note 7) 5,000,000: 5,000,000
Retained earnings 16,479,562 14,527,461
Exchange translation reserve (135,128)~ _ 9,275
Total shareholders’ equity 21,344,434 19,536, 736"
TOTAL 46,628,019 _ 29,970,251

See notes to balance sheet

These balance sheet were approved by the Board of Directors on February 3, 2006 and is signed on
its behalf by:



1. GENERAL

Metropolitan Bank (Bahamas) Limited (the “Bank”) is a private limited company incorporated
in the Commonwealth of The Bahamas and is licensed under The Banks and Trust Companies
Regulation Act, 1965 (as amended) to carry on international banking business. The registered
office of the Bank is located in Keswaal House, 7 Moseley Lane, P.O. Box CR-56766, Suite’
700, Nassau, The Bahamas. Its ultimate holding company is Metropolitan Bank & Trust;
Company, incorporated in the Republic of the Philippines. f
i
The Bank’s books of account are maintained in US dollars, the currency in which the majority

of transactions and balances are denominated.

2. SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation - These financial statements have been prepared in accordance with e
International Financial,Reporting Standards (IFRS). The preparation of financial statements in '
conformity with IFRS requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at
the date of the financial statements and the reported amounts of revenues and expenses during
the reporting periods. Actual results could differ from those estimates.

The significant accounting policies are as follows:

a. Loans and Advances to Customers — Loans and advances to customers are stated in the
balance sheet after deducting provisions for bad and doubtful debts.

Provision for bad and doubtful debts is made, having regard to both specific and general
risks.

The specific element of the provision relates to those loans and advances that have been
individually reviewed and specially identified as bad or doubtful. Factors which are
considered include expected cash flows, financial condition of borrower and current

economic conditions. The general element of the provision relates to those losses that,
although not yet specifically identified, are known for experience to be present in the
Bank’s portfolio of loans and advances. In determining the level of provision required,
management considers numerous factors including, but not limited to, domestic and
international economic conditions, the composition of the loan portfolio and prior loan
loss experience.

Provisions are applied to write-off loans and advances when all security has been
realized and further recoveries are considered unlikely.

b. Fixed Assets - Fixed assets are stated at cost less accumulated depreciation.
Depreciation is charged on a straight-line basis using the following annual rates:

33%
33%

Furniture and fixtures
«Leasehold improvements

c. Investments in Securities - Investments in securities are recognized on a trade-date basis
and are initially measured at cost.

Debt securities that the Bank has the expressed intention and ability to hold to maturity
are measured at amortized cost, less any impairment loss recognized to. reflect
irrecoverable amounts. The annual amortization of any discount or premium on the
acquisition of a held-to-maturity security is aggregated with other investment income
receivable over the term of the instrument so that the revenue recognized in each period
represents a constant yield on the investment.

oy.

THE TRIBUNE, BUSIN

USER GA §
Investment in Associated Companies - An associated company is a company, other than
a subsidiary, in which the Bank is in a position to exercise significant influence, through
participation in the financial and operating policy decisions of the investee.

The results and assets and liabilities of associates are incorporated in these financial
statements using the equity method of accounting. The carrying amount of such
investments is reduced to recognize any impairment in the value of individual
investments.

Where the Bank transacts with an associated company, unrealized profits and losses are
eliminated to the extent of the Bank’s interest in the relevant associate, “except where
unrealized losses provide evidence of an impairment of the asset transferred." ras

Impairment - At each balance sheet date, the Bank reviews the’ carrying. ‘amounts of
long-term investments to determine whether there is any indication that, those, assets have
suffered an impairment loss. If any such indication exists, the recoyerable.amount of the
asset is estimated in order to determine the extent of the impairment loss (iftany):i':

If the recoverable amount of an asset is estimated to be less than its carrying amount, the
carrying amount of the asset is reduced to its recoverable amount. + POA losses are
recognized as an expense immediately. Moy dizog20

Where an impairment:-loss subsequently reverses, the carrying amount’ of the® ‘asset is
increased to the revised estimate of its recoverable amount, but so that the ‘increased
carrying amount does not exceed the carrying amount that would have'been detérmined
had no impairment loss-been recognized for the asset. A reversal of an impairment loss

~ is fecognized as income immediately.

Foreign currency translation - Transactions in currencies other than US dollars are
initially recorded at the rates of exchange prevailing on the dates of the transactions or at
the contracted settlement rate. Monetary assets and liabilities denominated in such
currencies are re-translated at the rates prevailing on the balance sheet date. Profits and
losses arising on exchange are dealt with in the statement of income.

The assets and liabilities of the Bank’s overseas operations are translated at the exchange
rates prevailing on the balance sheet date. “Income and expenses are translated at the
average exchange rates for the year. Exchange differences arising are classified as equity
and transferred to the Bank’s exchange translation reserve. Such translation differences
are recognized as income or as expense in the year in which the operation is disposed of.

The assets and liabilities of the Bank’s overseas operations are translated at the exchange
rates prevailing on the balance sheet date.

Derivative Financial Instruments - Derivative financial instruments are initially
recorded at cost and are measured at fair value at subsequent reporting dates with
changes in fair value of derivative instruments recognized in the statement of income as
they arise.

Cash and Cash Equivalents - Cash and cash equivalents comprise cash, due from banks
and highly liquid securities with maturity of 3 months or less.

3. LOANS AND ADVANCES TO CUSTOMERS

pee, aee,e

2004



2005
US$ US$
Loans and advances to customers - 1,293,114
Less: Allowances for probable loss : (12,931)
- 1,280,183
4. INVESTMENTS IN SECURITIES
Investments in securities are comprised of:
2005 - °° 2004
US$ US$
Unlisted debt securities issued by governments 500,000 3,500,000
Unlisted debt securities issued by banks aromrnioin as esogevbs bea ease |
and other financial institutions: «>¢9912,056,684.-.- .. 3,500,000
‘a3 © cUnlisted:debt securities issued by non financial institutions. _3,435,810,.... 5,993,409
Total securities 15,992,494 12,993,409
5. INVESTMENTS IN ASSOCIATED COMPANIES
2005 2004
US$ » io ~~ US$
Share of net assets as of January 1, 2005 12,482,471....-: 11,183,977
Exchange translation adjustment (144,403) (16,149)
Share of profit 1,555,192 1,314,643
Disposal of shares (749,615) * -
Share of net assets as of December 31, 2005 13,143,645" Ta 12,482,471



‘Name of Company

nas Metro. International.
| Investment Co., Ltd.

_ gaily Investment, Lid, bi

In February 2005, the Bank disposed a portion of the Bank's i inierest in associated companies.




AE Ti EP

-Percenta tage of
Ae z






| Place of, Classia

: Ingomporation ratio Shates Held






at jong Kong. satay



The disposal was made‘to a related party at book value. Accordingly, no gain or loss was
made on the disposal. After the disposal, the Bank’s interest in associated companies was
reduced from 28.86% to 26.74%. ,





ao

t
rf
%
J
‘
a
Bi
&
‘
ri
E
fi











Furniture and fixtures 47 850.
Leasehold improvements 100 1,194
4 2 bae

2005 Net movement 5,145 4,193
2004 Net movement 53292 147

FIXED ASSETS
2005
US$ US$ US$ US$
Beginning Ending
Balance Additions Disposals Balance
COST:
Furniture and fixtures 3,583 4,364 - 7,947
Leasehold improvements 1,709 1,873 - 3,582
5,292 6:237) hs = 511529
2005 .
US$ US$ US$ USS
Beginning Depreciation Ending

ACCUMULATED DEPRECIATION:





SHARE CAPITAL

2005

. uss

Authorised: aN

10,000,000 ordinary shares of $1.00 each 19000.000
Issued and fully paid: ui

5,000,000 ordinary shares of $1.00 each 5,000,000




Balance _ for the year masa Belanee
THE TRIBUNE BUSINESS



ata
74
f | RSH aS 2
'
i] 8. MATURITY PROFILE
t BES
| sjoTibe maturity profile of the Bank's assets and liabilities as at December 31, FOS Ee OF ae Fey Petar Othe Sopayaneet Give
i] is as follows:
i 2005
’ | Repayable —_ Repayable
| Repayable after after
| within 3 months lyear —_ Repayable
vi Repayable 3months butwithin but within after
t} ondemand ___ or less | year 5 years 5 years Undated Total
a USS USS. USS USS USS USS USS.
‘ASSETS
Group companies 1,417,929 - - st - : 1,417,929
Others 45,978 — 15,850,000 - - - - 15,895,978
_,, Loans and advances to customers - - 2 - - i G
; Investments in securities - 11,068,802 - 3,384,523 1,539,169 - 15,992,494
eae in associated companies - - - - - 13,143,645 13,143,645
\ 74 [nterest receivable and other assets - 10,169 43,539 94,040 20,887 - 168,635
Fixed assets - : - : : 9,338 9,338
TOTAL ASSETS 1,463,907 26,928,971 43,539 _ 3,478,563 1,560,056 13,152,983 46,628.01 9
“LIABILITIES
; Deposits from group companies - - - - - : “
‘ Deposits of customers - 18,609,720 6,560,603 - - -» 25,170,323
j o} so,» Interest payable.. 73,458. 22,229 a i » 95,687
; aS Other payables and accrued liabilities 17,575 - - =. = a 17,575
; TOTAL LIABILITIES 17,575 18,683,178 6,582,832 - ii - 25,283,585
¢ >) NET EXPOSURE 1,446,332 8,245,793 - (6,539,293 3,478,563: 1,560,056 13,152,983 21,344,434
i
4
2004
i : Repayable Repayable
Repayable after after
within 3 months lyear —_ Repayable .
Repayable 3months butwithin but within after
on demand or less 1 year S years 5 years Undated Total
USS USS USS US$ US$ uss uss
ASSETS :
Bank balances j
Group companies 435,791 - - - - - 435,791
Others. y 21,702 2,550,000 - - - - 2,571,702
Loans and advances to customers - 1,280,183 - - - - 1,280,183
Investments in securities - 9,493,409 3,500,000 - - - 12,993,409
Investments in associated companies - - - - - 12,482,471 12,482,471
Interest receivable and other assets - 154,778 41,125 - - 5,647 201,550
Fixed assets : : : : : : 5,145 5,145
TOTAL ASSETS 457,493 13,478,370 _ 3,541,125 - - 12,493,263 29,970,251
LIABILITIES
Deposits from group companies - 2,048,021 - : - - 2,048,021
+ Deposits of customers - 8,314,621 - - - - 8,314,621
Interest payable - 31,778 - - - est 331,778
Other payables and accrued liabilities ___ 39,095 : : : : : 39,095
TOTAL LIABILITIES 39,095 10,394,420 - : - 10,433,5 15
NET EXPOSURE 418,398 ee 3,541,125 = 12,493,263 19,536,736
’ CURRENCY PROFILE

_ The currency profile (denominated in US dollars) of the Bank's assets and liabilities as at
December 31, 2005 is as follows:







2005
USD PHP HK$ Total
US$ USS USS USS
-ASSETS
; Bank balances
¥ Group companies 1,417,929 - - 1,417,929 ©
+ t Others - 15,895,978 : -. 15,895,978
£ Loans and advances to customers inadtvdl Beisest santer mo FF
+ Investments in securities 15,992,494 eer oe bre 15,992,494 §
+ Investments in associated companies net be = 13,143,645 13,143,645: ©
: Interest receivable and other assets 168,635 - - 168,635
+ Fixed assets 9,338 - - 9,338
1 TOTAL ASSETS 33,484,374 - 13,143,645 46,628,019
} ., LIABILITIES
+ Deposits of customers 25,170,323 - ~ 25,170,323
q “V8.2. Interest payable 95,687 ve 95,687
j { Me “"+ Other payables and accrued liabilities 17,575 - : 17,575
TOTAL LIABILITIES 25,283,585 - - 25,283,585
i a ee a aa tetey ss
{ ryh.cgh . -NET EXPOSURE 5789 = 13,143,645 21,344,434
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11.

CURRENCY PROFILE - CONTINUED

2004





USD PHP HK$ Total
___USS__ USS USS USS

ASSETS
Bank balances ty a
Group companies 435,791 - - 435,791 “
Others 2,571,702 - Senna OL LOL a
Loans and advances to customers 1,280,183 ‘ - 1,280,183 +!
Investments in securities . 12,993,409 - Mis 12,993,409 »
Investments in associated companies - - 12,482,471 12,482,471 ‘:

Interest receivable and other assets 201,550 - ; - A eine .

Fixed assets Of PES 1452 ea be Ce SB pS. é

TOTAL ASSETS 17,487,780 - 12,482,471 29,970,251 ;
LIABILITIES :
Deposits from group companies 2,048,021 - - 2,048,021 i;

Deposits of customers: 8,314,621 - het SS ee

Interest payable 31,778 - - se
Other payables and accrued liabilities 39,095 : . 095

TOTAL LIABILITIES 10,433,515 -. - 10,433,515

NET EXPOSURE 7,054,265 - 12,482,471 19,536,736
RELATED PARTY BALANCES AND TRANSACTIONS e
Balances and transactions with related parties are as follows at December 3 1, 2005: rm
2005 2004 vi
US$ uss
Ultimate holding company - |

Transactions :
Investments purchased during the year 68,971,299 237,590,208 o

Sale of investments during the year 65,972,214 _ 238,216,669 ’



Bank balances —15417;929 435,791
Deposits from group companies : - 2,048,021
Interest payable 95,687 31,778 ©:

Transactions with group companies are entered into on terms similar to those applicable to .*
transactions with unrelated parties. °

RISK MANAGEMENT "

In the normal course of business the Bank incurs different types of risks. T hese include
credit risk and price risk.

Credit risk - Credit risk arises from the failure of a counterparty to perform according to |
the terms of the contract. From this perspective, the Bank's significant exposure to credit °
risk is primarily concentrated in placements with banks, loans to customers and ‘
investments. The placements, loans to customers and investment transactions have been
placed with high quality counterparties and as such the Bank’s exposure to credit risk is
minimal. !

Price risk - Price risk is comprised of currency risk, interest rate risk and market risk. *
Currency risk emanates from the possibility that the value of a financial instrument will
fluctuate due to changes in foreign exchange rates, The Bank minimizes its risk by
monitoring levels of foreign currencies particularly those susceptible to foreign exchange
rates volatility. As of the balance sheet date the Bank's assets and liabilities denominated
in foreign. currencies are disclosed under Note 9. Interest, rate risk is the risk that the

-.. Value of a ,financial instrument may fluctuate signifi cantly.as a..tesult.of changes in

~<"“““market interest'rates. The Bank's exposure to this is mioderate as the fixed rate financial

12.

PUBLISH

Your Balance Sheets & Legal Notices



instruments are usually short term, whereas the financial instruments which are medium
term are at floating rates.

Market risk - Market risk is the risk that there will be a change in the value of a financial. ’
instrument due to changes in the market conditions. The Bank's exposure to this risk is’
minimal as the investments represent debt securities which are intended to be held to!-
maturity.

GEOGRAPHICAL SEGMENT INFORMATION

The Bank's assets and liabilities are predominantly concentrated in the United States of
America and Hong Kong. |

TV eVEeV ES HS eee ee

Rae Ra HS

~“S Pune

The Tribune

Call us at

502-2352

=
PAGE 8B, FRIDAY, MAY 19, 2006



igh as
fe
umes



JES

~

THE TRIBUNE





Wall Street extends its losses
one day after inflation scare

i By CHRISTOPHER
WANG
AP Business Writer

NEW YORK (AP) — Wall
Sireet extended its losses yes-
cerday, a day after an inflation
scare sent the Dow Jones
industrial average on its biggest

range through most of the ses-
sion but took a sharp turn low-
er in the last hour of trading, a
reflection of how nervous the
market remained after the
Dow’s 214-point dive Wednes-
day.

Economic

including an unexpected drop
in the Conference Board’s
index of leading indicators and
an upswing in jobless claims.
The catalyst for the previous
day’s frenzied selling was a
stronger-than-forecast jump in
consumer prices that ignited
concerns that the Federal

an equity trader at Voyageur
Asset Management. “People
are taking money off the table
and no bets are being made
because no one knows what to
do right now.”

A fresh rise in oil prices
added to Wall Street’s infla-
tion troubles and overshad-

yen.

According to preliminary
calculations, the Dow dropped
77.32, or 0.69 per cent, to
11,128.29. On Wednesday, the
Dow had its worst session since
sinking 307 points on March

24, 2003. 1
Broader stock indicators.also
declined. The Standards&

Poor’s 500 index lost 8.51,y,or |

0.67 per,cent, to 1,261.81, ahd
the Nasdaq sank 15.48, or 0:7
per cent, to 2,180.32. "4

one-day drop in three years

and put the Nasdaq compos-
- index in the red for 2006.
Stocks drifted in a narrow

_ NOTICE

‘| NOTICE is hereby given that ROSARIO AMELIA OJEDA
URIBE THOMPSON OF NASSAU, BAHAMAS, is applying

_ to the Minister responsible for Nationality and Citizenship,

, for registration/naturalization as a citizen of The Bahamas,
,, and that any person who knows any reason why registration/
‘| naturalization should not be granted, should send a written
‘| and signed statement of the facts within twenty-eight days
1, from the 19TH day of MAY, 2006 to the Minister responsible
|. for Nationality and Citizenship, PO.Box N- 7147, Nassau,

NOTICE

‘| | NOTICE is hereby given that LINDA MITCHELL OF 157 NE
| 68 TERR, MIAMI, FLORIDA, 33138 is applying to the Minister
responsible for Nationality and Citizenship, for
| registration/naturalization’as a citizen of The Bahamas, and
| that any person who knows any reason why registration/

‘| naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
' from the 19TH day of MAY, 2006 to the Minister responsible

‘} for Nationality and Citizenship, P.O.Box N- 7147, Nassau,

” NOTICE

-) NOTICE is hereby given that EROLD LA’ CROIX OF ETHEL
| STREET, NASSAU, BAHAMAS, is applying to the Minister
'responsible for Nationality and Citizenship, for
; registration/naturalization as a citizen of The Bahamas, and
| that any person who knows any reason why registration/
, naturalization should not be granted, should send a written
' and signed statement of the facts within twenty-eight days
' trom the 19TH day of MAY, 2006 to the Minister responsible

for Nallonaly and Citizenship, P.O.Box N- 7147, Nassau,

NOTICE

i NOTICE is hereby given that JULIE LOUIMEME, MARSH
, HARBOUR, ABACO, BAHAMAS, is applying to the Minister

Even economic news that
showed a moderating econo-
my had little impact on trading,














j











‘
'
bit
'
in]
i














» responsible for Nationality and Citizenship, for]

» yegistration/naturalization as a citizen of The Bahamas, and
, that any person who knows any reason why registration/
. Naturalization shouid not be granted, should send a written
and signed statement of the facts within twenty-eight days
‘ from the 12TH day of JANUARY, 2006 to the Minister
«esponsible for Nationality and Citizenship, P.O.Box N- 7147,
ference, Bahamas.




‘Temple Christian Elementary School invites
‘applications from qualified teachers for the
2006-2007 school year for:
. Spanish Teacher (Grades 1-6)
art Teacher (Grades 1-6)

MApplicant must:

‘A. Bea born-again practicing Christian

who is willing to subscribe to the .
Statement of Faith Temple
Christian Schools.

Have an Associates and ‘or Bachelor’s
Degree in Education from a recognized
College or University in the area

of specialization.

Have a valid Teacher’s Certificate
or Diploma.

Be willing to contribute to the school’s extra
curricular program.

Application must be made in writing with a full
Curriculum Vitae, a recent coloured photograph
and three references should be sent to:

The Principal
Temple Christian Schools
Collins Avenue
P.O. Box N-1566
Nassau, Bahamas



owed a recovery in the bond
market and a stabilizing Unit-
ed States dollar after its recent
tumble against the Japanese

Reserve might keep boosting

interest rates.
“This market is just scared

tight now,” said Ryan Larson,

NOTICE

NOTICE is hereby given that GILBERT CHERIME OF EAST
STREET, P.O. Box SS-19950, NASSAU, BAHAMAS, is
applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as.a citizen of The
Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should
send a written and signed statement of the facts within
twenty-eight days from the 19TH day of MAY, 2006 to the
Minister responsible for Nationality and Citizenship, PO.Box
N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that SUSANNE ROLE-TIEDEMANN OF
TEMPLETON BUILDING, LYFORD CAY, P.O. BOX N-7776-348,
NASSAU, BAHAMAS, is applying to the Minister responsible for
Nationality < and Citizenship, for registration/naturalization as a
citizen of The Bahamas, and that any person who knows any
reason why registration/ naturalization should not be granted,
should send a written and signed statement of the facts within

-| twenty-eight days from the 12TH day of MAY, 2006 to the Minister
responsible for Nationality and Citizenship, PRO.Box N- 7147,
Nassau, Bahamas.





LEGAL NOTICE





NOTICE









TOPSHAM LIMITED

Notice is hereby given that in accordance with Section 137(8)
of the international Business Companies Act 2000,the
dissolution of TOPSHAM LIMITED, has been completed;
a Certificate of Dissolution has been issued and the Company
has therefore been struck off the Register



~~ ARGOSA CORP. INC.
Liquidator





NOTICE



Secretary / Typist




.Professional Office has an immediate Opening for
Secretary/Typist. The ideal candidate must have
an minimum of Three (3) Years Office experience
with excellent communications and Computer
Skills. The applicant must possess exceptional
telephone etiquette, good attitude and be
capable of working independently and/or as a
team member; should have a minimum
typewriting skills of 50 wpm; and must be
proficent in the Windows XP or 2000
enviroment; particularly w/ software such as
Microsoft Word, Excel and Quickbooks.













Bahamians and/ or Bahamian Residents are invited to apply




Please Fax Resume to 394-4458
email: wwb@coralwave.com



LEGAL NOTICE

International Business Companies Act
(No. 45 of 2000)

LYNTHORPE HOLDINGS LIMITED
(In Voluntary Liquidation)

Notice is hereby given that in accordance with Section 137
(4) of the International Business Companies Act (No. 45 of
-2000), LYNTHORPE HOLDINGS LIMITED, has been
dissolved and struck off of the Register according to the
Certificate of Dissolution issued by the Registrar

General on the 25th day of April, 2006.

Hamilton Management Services Limited,
Fiman House, La Houque du Valle,
Vale, Guernsey, GY3 5TE.

Liquidator

Yours sincerely, —
MOSSACK FONSECA & CO. (BAHAMAS) LIMITED

Lauren Ramsay,
Corporate Administrator



NOTICE

NOTICE is hereby given that THERESA GRAY OF TAYLOR
STREET, P.O. Box N-3841, NASSAU, BAHAMAS, is applying
to the Minister responsible for Nationality and Citizenship,

for registration/naturalization as a citizen of The Bahamas,
and that any person who knows any reason why registration/
naturalization should not be granted, should send a written’
and signed statement of the facts within twenty-eight days
from the 19TH day of MAY, 2006 to the Minister responsible
for mavenaly and Citizenship, P.O.Box N- 7147, Nassau;

NOTICE

NOTICE is hereby given that MONIQUE LA’ CROIX OF,
ETHEL STREET, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, arid
that any person who knows any reason why registratiop/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 19TH day of MAY, 2006 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
ahamas.












POSTION AVAILABLE
SECURITIES SPECIALIST

Leading Offshore Bank request applications for the _
position of an experienced securities specialist.

The candidates must possess the following: AM
qualifications and skills:

Two years related mutual fund experience,
including cash settlements

Strong emphasis in:tradde processin and!) 4 |
settlements

Strong PC, organization skills

Strong communication skills
Qualified applicants should fax or email resumes-to:

Branch Manager Banking
P.O. Box N-4906 — .
Nassau, Bahamas

Fax: 394-0701.

COMMONWEALTH OF THE BAHAMAS. 2005/CLE/gen/01227
IN THE SUPREME COURT
BETWEEN

MARY I MICHELLE MAJOR
JUDY ATHENE KEMP-HIGGS
> Plaintiffs
AND.

-KAIVON ELDON

_ Defendant

NOTICE

Kaivon Eldon
Nassau, Bahamas

TAKE NOTICE that.action has been commenced
against you in the Supreme Court of the
Commonwealth of The Bahamas Action No.
2005/CLE/gen/01227 by Mary Michelle Major
and Judy Athene Kemp-Higgs in which the
Plaintiffs’ claim is for an Order that you remove
a building which encroaches on the Plaintiffs’
property, damages for trespass and costs.

AND that it has been ordered that service of the
Writ in the said action be eliggted by this
advertisement.

AND FURTHER TAKE NOTICE that you must
enter an Appearance in this action on or before
the 2nd June 2006 otherwise judgment may be
entered against you.

ALEXIOU, KNOWLES & CO.
Attorneys for the Plaintiffs
Chambers
Frederick Street Steps
Nassau, Bahamas


THE TRIBUNE BUSINESS

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MAY 19, 2006

10:00



"FRIDAY EVENING

730 | 8:00 | 8:30 | 9:00 | 9:30

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a. te wk Eee eee ee ee ee Tae Ve Pe Vit se em Cee Cre we Se”. a

, MAY 19, 2006, PAGE 9B











Let Charlie the
Bahamian Puppet and ey
his sidekick Derek jut r

Some smiles On your




kids’s faces

MctHappy Hour at McDonald's in
Oakes Field every Thursday
from 3:30pm to 4:30pm during the
month of May 9006.

|
|
|
| Bring your children to the
|

Enjoy Great Food, Prizes and Lots of Fun.





im lovin’ it




make great giftsle


PAGE 10B, FRIDAY, MAY 19, 2006

TRIBUNE SPORTS







@ TRACK AND FIELD
By KELSIE JOHNSON
Junior Sports Reporter

WEDNESDAY'S down-
pour might have dampened
the spirits of several of the
athletes participating in the
25th annual Primary School
Track and Field Champi-
onships, but yesterday's fine
weather saw the Queen's Col-
lege Comets come shooting
through.

The Comets led the open-
ing session medal haul with
four medals — a gold and
three bronze. They wetre fol-
lowed closely by the team
from Hugh Campbell Prima-
ry with three medals and
Abaco, capturing two gold
medals. ;

Three of the four medals

B YOUNG athletes come out of the blocks strong in the 100m girls A heats.

captured by the Comets were
claimed by Karin Carbin and
Shaque Lockhart in the C
girls 100m, and Shelby Carbin
in the B girls 100m.

Karin's time in the 100m
was recorded at 14.15 sec-
onds, she was followed close-
ly by Sterra Johnson of North
Andros in 14.49 seconds leav-

ing Lockhart and Shante Rus- |
_ sell to settle for the bronze

medals in a time of 14.72 sec-
onds.

In the B girls 100m, Shelby
clocked 13.81 seconds for the
third spot leaving the top two
spots for Carmenisha Cox of
St Thomas More and Kendaci
Hart of Gerald Cash Primary.

Cox's time in the event was
13.70 seconds while Hart
recorded 13.76 seconds.

The performance by the

the relays,

Comets left head coach Sue
Coleby looking forward to
the events set for today and
which were
set to climax the opening
day.

According to Coleby, the
work being put in by the ath-
letes deserves a special com-
mendation especially since
the claiming of their medals
will go down in the history
books of both the association
and the schools.

Coleby said: "This is the
first time in the history of our
participation we were able to
win medals. I believe the kids
deserve a special commenda-
tion for their performances.

"We are doing very well, I
don't think the performances
today can be rated that's how
well they are doing. And to

Queen’s College Comets
shoot ahead of the pack

think we are just getting start-
ed.

"We've got the relays com-
ing up later on today so Jam

really looking forward to see--

ing them compete in those.
We got some help from the
coach from the high school
level and the kids were able
to catch on to what he was
showing them so quickly, so

==we will definitely be a threat

in that.

"You can't forget about the
400m, the athletes who are
competing in this event, they
are ready to go. And tomor-
row (Friday) we've got the
200m."

The two gold medals for
the team from Abaco were
won by Rashad Rolle and
Terry Russell in the boy's
100m and high jump events.

Both Russell and Kyle Wil-
son of Gerald Cash cleared
4-feet-4-inches, but Russell
got the win due to knock-
downs. The third place posi-
tion belonged to South
Andros' Lamaron Sweeting, a
performance of 3-feet-10
inches.

Rolle clocked 12.27 seconds
to get the win over Shaquille

-Ferguson of Cleveland Eneas

who finished up in a time of
12.61 seconds and Ryan Blair
of Hugh Campbell Primary
in 12.64 seconds.

In the B boy's 100m D'An-
gelo Sands of Zion School
was first in a time of 13.18
seconds, Calvin Anderson of
Hugh Campbell was second
in 13.24 seconds and Shak-
won Lewis of Paimdale Pri-
mary third in 13.28 seconds.

Bahamian boxers meet their opponents

FROM page one

Bahamas and acknowledged his
prowess as a fighter, but at the same
time, he assured the Bahamian peo-
ple that he doesn’t intend to let them
down on home soil.

"The Mexicans have been good
fighters over the years, so I know
I'm going up against a very good
opponent," he charged. "But I'm
real focused and I'm in tip top
shape and I'm prepared to put ona
show."

Having stopped a Puerto Rican
in his last fight, which served as a
tune-up for this one, the Bahami-
an lightweight champion was basi-
cally the same height and weight of
his opponent - something that he
was hoping for.

"This is an international fight, this
is a title fight, so I'm looking for-
ward to having a real good fight,"
he insisted. "But when it's all said
and done, I hope to come out of the
ring with the belt around my waist."

Another Mexican, Julio Gonza-
lez will be taking on Jermaine 'Chu
Chu' Mackey in the co-main event.
They are scheduled to fight eight
rounds. But neither fighter feels it
will go the distance.

Like Couch, Gonzalez said he's
been impressed with the hospitality
of the Bahamian people, but he
knows that it will be a different sto-
ry in the ring.

"I came here ready to fight and I
intend to do what it takes to win,"
said Gonzsalez, who at age 28, is
10-3. "I know he's at home fighting
before the home crowd, but he will
have to come out and fight because
I'm here to fight."

The 26-year-old Mackey, who
doubled up as the disc jockey dur-
ing the gathering, is coming off a
successful six round decision in Key
West, Florida on May 6. With only
two weeks rest in between, Mackey
said he's ready to go again.

"He looks like he's a very good
fighter, but I will just go in there



a JULIO GONZALEZ will be taking on Jermaine 'Chu Chu' Mackey
(Photo: Mario Duncanson/Tribune staff)

and take my time," said Mackey,
who intends to improve on his 9-0
record. "I'm just going to go in
there and fight my fight and hope-
fully win every round."

Jamaican Ricardo 'Hard Heel’
Planter is back in the Bahamas for
another fight on the undercard.

He was present waiting for Elke-
na 'Ali' Saunders to arrive. Having
been here before, Planter knows
quite well that it won't be easy and

so he said he's just going to wait
and see what happen when they get
into the ring for their six rounder.

And in one of the two four
rounders, Sean 'Doodle Bug' Laing
will take on Keito 'Red Lion' Fer-
guson. Both fighters are eager to
get a shot at each other, but none
wanted to boast or brag about their
abilities.

"T only had about two weeks to
prepare, but I know with the time

that I put in, I'm confident that I
will do my best," he stated. "I have
a lot of respect for Doodle Bug, but
I don't want him to take me for
granted."

Laing, however, said he expects
that the fight will be a quick one.

"IT don't know much about him,
but he doesn’t know me, so we will
see what happens," he summed
up.

The show gets underway at 8pm.

Softball set
for ‘Battle:

of the
Leagues’

m@ SOFTBALL
By RENALDO
DORSETT
Sports Reporter —

THE country’s ama-
teur softball leagues
will come together ina
landmark tournament
to determine which
league and individual
teams truly deserve to
be called the best.

Over a dozen teams.
from various leagues ~
will vie for bragging
rights in the First
Annual “Battle of the
Leagues” Softball ~°
Tournament.

Hosted by the New; é
Providence Modified: - ”
Pitch Softball League, ;
the tournament is
scheduled for May
27th and 28th at the
Blue Hills Sporting
Complex.

Dedicated

The tournament will.’
be dedicated to the...
memory of Gregory :1
Mitchell Maurice, for-
mer starting center
fielder for the Royal
Bank of Canada
Lions.

Maurice died tragi- << ;
cally on May 12th in: ae
motorcycle accident,
he was 35. :

In addition to the
Banker’s League, the
versatile softball play-
er also played in the
Old Timers and Modi-
fied Pitch Leagues.

Alfred Forbes, Com-
missioner of the Modi-
fied Pitch Softball
League, said the tour-
namient has the poten-
tial to become one of
the most anticipated
events on the softball
calendar because it
encompasses a large
number of leagues.

“This tournament
will feature teams |
from all of the active.
leagues in New Provi-
dence, mainly the
Government, Modi-
fied Pitch, Banker’s,
Old Timers, Slow
Pitch and Fast Pitch
Leagues,” he said.

Invite

“We are seeking to
invite 16 teams, ideal-
ly we would like to

35 >



- have two teams from

each league, with ‘an
additional four teams
from our league to
represent ourselves as
the hosts of this tour-
nament.”

Forbes said inspira-
tion from the tourna-
ment stemmed from
the competitive nature
of the athletes them-
selves.

“Tt was dream I Had:
from the first time I -
went and saw the s
camaraderie and the * =
excitement throughout
the leagues when the
teams played,” he
said, “I thought it
would be a good idea:
to bring the leagues
together and allow
them to compete
against each other fo
bragging rights.”

The format of the
tournament is double
elimination with
games. shortened to.”
five innings or one,5*
hour.

About 29 games wi
be played over the +
course of two day »
tournament. °

Tournament winnefs
will receive the float-
ing trophy and $500
cash prize.

Second Place will
receive a $200 prize
and the tournament’s
Most Valuable Player
will receive $50.

The tournament is
sponsored by V8 '
Splash, the D’Albénas
Agency, G/H Enter- |
prises and many oth-'
ers.

ct.

wweves

en ealen

i
1
{


THE WEATHER REPORT gg ()NSRACENANACEVENT

aa Bi - a
Leche siecle inh ‘i
SAPRALE ES : aoe

Today , Saturday WINDS WAVES VISIBILITY _ WATER TEMPS.














































; ‘ i
i i a | —-_ High = Low W High Low W WASSAU = Today: NNE at 6-12 Knots 1-2 Feet 6-7 Miles 80° F
i . et ce FC F/C caneeiles F/C Saturday: _ NE at 10-20 Knots 1-2 Feet 6-7 Miles © 80° F
i pens bind” | 1| = 3| : | $926 Acapulco 90/32 75/23 pe 88/31 75/23 pc FREEPORT Today: VAR at 5-10 Knots 1-2 Feet 6-7 Miles 80° F
i : Low MODERATE | HIGH Amsterdam _ 63/17 52/11 ¢ 98/14 52/11 5 Saturday: ENE at 6-12 Knots 1-2Feet_ «6-7 Miles 80° F-
i = | | ee | a ee me Fae nee Turkey tae Be poe ee OEE S ABACO Today: ~—- VAR at 5-10 Knots 1-2Feet 6-7 Miles = 79°F
S$ tofthe | Mainly clear. | Partly sunny and «Mostly cloudy, a Mostly cloudy witha = Rather cloudy witha - fe higher the AccuWeather UV Index™ number, the ens s s Saturday: ENE at 6-12 Knots 1-3 Feet 6-7 Miles 79° F
High: 90° F/32° C Canes : I neers onan; acsakie. t-stormortwo. -—st-stormortwo. greater the need for eye and skin protection. Auckland 63/17 48/8 s 61/16 50/10 pc
Low: 64° F/18°C ss ‘ ‘ i i High: 88° i High: 86° High: g4° High: g2° i Bangkok _ } 91/32 79/26 t 90/32 79/26 t
@ Cae High: 88° i Low: 72° i Low: 74° | Low: 74° i Low: 72° Low: 72° i Barbados : 90/32 79/26 pc 86/30 17/25 pc
TAMPA PESTA ciel i Yaa crt ia at lat Pea Eee REMC ict ta peur aca ; Batam laa 1 Sees ateteere onan ae ee % ere eae E es ae
eaniee = RealFeel Te ue ture? i dex that Tee ffect ft ia aa humidity, is eee aia ae and il aah a aah rae Bent E1/2S.. 04/17. De T2le2 G37, sh
10D : “is je exclusive AccuWeather Real emperature® is an index that combines the effects o' emperature, w Today 4 Mm. : , .m. 4 Belgrade : : 84/28 59/15 t 82/27 BIG pe
elevation on the human body—everything that effects how warm or cold a person feels. Temperatures en me high and the low for the day. 1:29pm. 25 7:36pm. 03 Berli
§ = in 61/16 50/10 r 69/20 43/6 t
Saturday 2:01am. 27 8:19am. 0.1 Bermuda 76/24 66/18 s” 78/25 66/18 s
= 2:33pm. 26 8:45p.m. 0.2 — Bogota ; 64/17 50/10 pc 63/17 50/10 c
Statistics are for Nassau through 2 p.m. yesterday Sunday 3:04am. 26 Si5am. OT — Brussels 63/17. 50/10 c~ 59/15 43/6 t
ABACO Temperature a : 3:36 p.m. 2.7 9:54p.m. 0.2 Budapest ; ee oa c ae oe pe
2 % /oc HQ esate eearescssvisseseoey aetesceeree 85° F/29° ———"anRam de Ani0am on) Buenos Aires =e =: : pe s
A cilltie ee ic LOW ene Eroeares Mamiay ere re saan oo airo 84/28 61/16 s 87/30 64/17 s
Normal high . ... 84° F/29° C ET Re oe aan a Fees nS eA 97/36 81/27 pc 101/38 83/28 pc
Normal low cosets Peat ela G Calgary 74/23 43/6 pe 64/17 49/9 pc
@ WEST PALMBEACH oe year's high iw a2 ey Cancun 88/31 72/22 pc 90/32 71/21 pc
High: 85° F/29°C = SESVOAIES| | OWiserestsrcecerresestterseresrercest™ ° F/23° : Caracas : 84/28 66/18 pc 84/28 64/17 pc
(ior b5°F/19°C 3 : 7 % Precipitation Sunrise...... 6:24 a.m. Moonrise..... 1:10am. _ Gasablanca _ 81/27. 59/15 s 77/25 65/18 s
- = ill. As Of 2 p.m. yesterday csscsseeseeseeneen 1.70” ‘Sunset... 7-49 p.m. Moonset....12:16p.m. Copenhagen : S7/13 48/8 + 59/15 50/10 sh :
FT. LAUDERDALE - FREEPORT Year tO date csc .. 5,83” New First Full Dublin 5713 48/8 c 6512 43/6 ©. :
High:85°F/29°C = . High: 86°F/30°C Normal year to date ......sssssesesseccserssseeeesee 10.07” fia cai ie aa Frankfurt 63/17 48/8. pc 60/15 47/8 t 2
Low:69°F/21°C ~~ aie Low: 71° F/22°C Geneva. = 66/18 54/12 pe 59/15 521 t .
AccuWeather.com Halifax 55/12 41/5 c 5412-404 H
S All forecasts and maps provided by mis S oe Havana 84/28 6317s 85/29 72/22 pc Showers :
LAM AccuWeather, Inc. ©2006 27 Jun. 3 Jun. 11 Helsinki $4/12 45/7 © 56/13 42/5 ¢ 4 =» j T-storms 2
cece c | Seen = Hong Kong 86/30 75/23 s 84/28. 75/23 s Rain é
4 : NASSAU High: Islamabad _ 99/87 79/26 s 110/43 79/26 s [x *] Flurries See eat i .
=r High: 88° F/31°C _Low.78°F/23°C : istanbul = 78 EGAZ Ss = BORE. G7 pe Snow _precpiaton. Temperature bands are highs forthe day. ‘
Low:72° F/22°C Jerusalem 79/23 61/16 s 67/19 51/10 s [¥_¥! Ice Forecast high/low temperatures are for selected cities. a
7 ite Johannesburg 57A3 28/2 cc =—s« 4G 810 z
€ : Ki 7 =
s mgston 86/80 73/22 t———8M/31_79/26 c :
~ iis CAT ISLAND OO a
ak ~ a ae High: 85° F/29°C __. London 6116 5211c 58/14 50/10 +
: Low: 69° F/21°C : ‘Madrid oo B227. S0A0 so 81/27. S42 s:
vs Manila 93/33 79/26 c sss 91/32 79/26 pc
Mexico City: = 75/723 500 t 75/23. S00 t
- Monterrey. ae oe oore0 Se 99/37 71/21 s
GREAT EXUMA Ae SAN ADOR ‘Montreal = i ( ssti(tst*é‘C AND BB CTAB 44/6 Sh
Re, High: 86° F/30° C Hi ee Moscow 63/17 50/10 F
Low: 75°F/24°C ; ee Muri 68/20 4778 t
; ANDROS : ___Low:72°F/22°C 78/25 57/13 ¢
Shown is today's weather. Temperatures are today's < : sis sel le
highs and tonights's lows High: 88° F/31°C ‘ = 105/40 81/27 's
Low: 75° F/24°C 65/18 46/7 sh





























BOAT 48/28 t
A468 ¢ 85/18. 48/8. pc
LONG ISLAND 3 6518s «78/25 68/20 pc
High: 85° F/29°C 37,7928. s___ 100/97. 81/27 s
= : Low: 74° F/23°C
MAYAGUANA 78/25. pe . : :
Today Saturday Today Saturday Today Saturday * 36/2 : choi ce is
High Low W High Low W High Low W High Low Ww High Low W High Low W High: 86° ee C 72/22 = : : .
FC F/C FC F/C he OE. be 7 oan ae Low. 75°F/24°6 ae 6° : agement
Albuquerque 89/31 61/16 pc 90/32 59/15 pc Indianapolis ~~“ 67/19 «48/8 | fv ; se :
Anchorage 60/15 44/6 pc 56/13 42/5 sh Jacksonville 90/32 66/18 CROOKEDISLAND/ /ACKLINS pore f an trust.
Atlanta 81/27 6216 pc 83/28 65/18 s_ sai 85/29 6216 RAGGED ISLAND os Tee B5/i2. pc
SEE RM CET oe TCL 98/36 76/24 High: 84° F/29° C Ww: wena
= iif é ; 4 yas _ ; eR :
Baltimore ~~ 68/20 722 = A819 pe S1/82 66/18” Low: 70° F/21°C 55/12. pe , , ,
Boston == 63/17 S21 or 0 4 é 75/23 s ’
Buffalo S812 AAS ¢ 8814 42/5" sh — GREAT INAGUA 63/17 sh . A ; N@a =
Charleston, SC 84/28 64/17 s 88/31 67/49 pc 85/29 68/20 High:87° F/31°C AMS po S fet ON ew WW
Chicago BB 46/7 pe 168/20" 48/8 pe 85/29 70/21 s Low: 75° F/24°C : 59/15 ¢ ! Be nthe AGENTS
Cleveland 55/12 45/7 sh. 60/15 46/7 pc 71/21 54/12 po pe = San See : : 2 18 : - 50A0 c ee : 2 :
Dallas ~~ / »-94/34 69/20 s' 92/33 69/20 pe 216/24: SONS t= pe Seattle = — Ais ~ 60/ ‘ _ > Nien < 64/17 18/8. Cc 67/19 49/9 pc : Fleuthera Exuma
, _ Denver 87/30 56/13 s. 84/28 50/10 pc NewOrleans 90/32 67/19 ls Tallahassee 90/32 62/16 s "95/35 B47 s_ — : cau ~ War So B8AT 48/8 co. 64/17 48/8 pe ea . Fe
- .Betroit => 6015 44/6 pc 679 48/8 po’ | NewYork «= 70/21 52/11 “pe Tampa SBI TOMI RSy RA RO = 5.5 Winnipeg. = 69/20 41/Rs- .. BIN 38/3. pe | i eee ——
Honolulu 85/29 71/21 pc 85/29 72/22 s OklahomaCity 92/33 64/17 pc Tucson 98/36 68/20 s 98/36 68/20 s i Weather (W): 8-sunny, po- spat raiiyter Cativien-shiwe cel tilinion
Houston 91/32 68/20 s 91/32 68/20 pc Orlando 90/32 66/18 Ss Washington, DC 68/20 48/8 t 72/22 55/12. pe storms, r-rain, sf-snow flurries, sn-snow, i-ice, Prep-precipitation, Tr-trace


» FRIDAY, MAY 19, 2006

SECTION



Fax: (242) 328-2398
E-Mail: sports@100jamz.com



Lp Pripsinegrmte ar ase

}



@ MEACHER 'Major Pain' Major and Luis 'Lichi' Couch meet up yesterday.
(Photo: Mario Duncanson/Tribune staff)

featuring

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MIAMI HERALD SPORTS



BOXING
By BRENT STUBBS
Senior Sports Reporter

MEACHER ‘Major Pain'
Major and Luis ‘Lichi' Couch
came together face to face for
the first time yesterday as they
prepare to challenge each oth-
er for the World Boxing Asso-

ciation's vacant FEDECaribe

lightweight title.

The two squared off on the
stage at the First Class Pro-
motions' office as they wait-
ed for the official weigh-in cer-
emony and medical check up
as a part of the final proce-



Major and
Couch face off

dures before tonight's clash of
the titans at the Wyndham
Nassau Resort Ballroom.

With their fists clinched as
they posed for the photogra-
phers, both fighters just stared
at each and admitted after-
wards that it won't easy when
they step into the ring for the
12-round main event bout.

Delighted to here in the
Bahamas as he spoke through
an interpreter, Couch said he
likes what he saw in Major,
whose credentials are a little
bit better when stacked up
against his.

"He seems to be a very



hag

i

strong competitor, just like :
me," said Couch, 23, who has ;
a 6-5 win-loss record in four-’
years of fighting on the pro-
fessional scene. "If we have :
to go 12.rounds, I will be pre-
pared to go 12 rounds."

This is Couch's second shot'
at an international title. In his :
first one in December, he lost :
a split decision. This ‘time, :
however, he has vowed to:
return to Mexico as the new |

champion. ;

However, the 24-year-old
Major welcomed Couch to the :

SEE page 10B

@ ACTION from the 100m
girls A heats during yester-
day’s 25th annual Primary
School Track and Field
Championships.

The event finally got under-

| way after being delayed on



COOKIES FOR CANCER

For every McDonald’s Cookie you purchase during
_the month of May 2006, McDonald’s willmakea
donation to the Cancer Society of the Bahamas gy

Wednesday due to poor
weather.

¢ PAGE 10B

(Photo: Mario Duncanson/

Tribune staff) .









THE TRIBUNE.


PAGE 2. FRIDAY. MAY 19. 2006


PM's trip to Chapter One


m^^^^^^^Ba'^'"-~ L - ' -^

O c :*


SaturdAP.ay,



PIubr flc o~td s
Aam to loam


* PRIME Minister Perry Christie tours the new book store at the College of the Bahamas
(Photo: Felip6 Major/Tribune staff.


icCh" MInistry receives


o no bids for New




.c Providence road


improvement


* By KARIN HERIG
Tribune Staff Reporter
THE completion of the New


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Providence Road Improvement
Project has hit a major snag - as
contractors have failed to sub-
mit bids to the Ministry of
Works.
Making this announcement
in the House of Assembly, Min-
ister of Works and Public Util-
ities Bradley Roberts explained
that despite a prolonged peri-
od of advertising contracts for
two sections of Nassau roads,
his ministry failed to receive a
single bid.
"The disappointing outcome
of our efforts in getting this
New Providence Road
Improvement Project (NPRIP)
going again has been frustrat-
ing to my ministry as well as the
public who have not realized
the benefits of an increased
road capacity on the island of
New Providence," he said.

Discussions

In order a resolve the prob-
lem, the minister said that his
technical staff has begun pre-
liminary discussions with the
Inter-American Bank (IDB) on
the Bahamas' loan agreement.
He said a decision was
reached to proceed on the basis
of limited bidding.
"The limited bidding process
permits issuance of the bid doc-
uments to at least three or more
international applicants and
what I have six in mind who are
interested to submit a bid on a
post-qualification basis," he
said.



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BENEFITS:
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FORWARD RESUMES TO:
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, .1


Mr Roberts said that he antic-,a �.
ipates that the bid documents'
will be issued to the shortlisted.,
bidders by July or August this-
year.
The contractors will be bid-" -
ding on contracts of "slice one
and two" of the New Provi-,
dence Road Improvement Pro-.
ject.
Slice one includes the reha-
bilitation, improvement and .
expansion of Baillou Hill Road ,
from Independence Highway to.
Carmichael Road, as,well as the
corridor starting at Baillou Hill
Road stretching from Robinson .
Road to Duke Street.
Also included in slice one is.,
the corridor from Market Street,
along Robinson Road to Duke
Street.
East Street from Soldier,
Road to Robinson Road, West, ,
Bay Street - including the road,
alignment at Saunders Beach - ,
and John F Kennedy Drive, tji
from Farrington Road to Bethel
Avenue, are also encompassed
by slice one.
Slice two of the road project,
includes the improvement and ,3
expansion of Robinson Road ,
from Baillou Hill Road to Clar-,.,,,
idge Road; Prince Charles Dri-, .
ve from Marathon Road to Fox-,. ,:
Hill Road; Marathon Road,,,;
from Robinson Road to,;.,[
Wulff Road; Wulff Road,,,
from Marathon Road to
Bernard/Village Road; and
from Claridge Road to. t
Marathon Road. -
The contracts were advertised*& *
both locally and internationally.-,



LNEEDED
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,WORD AND OUTLOOK
,DERSHIP, AND PEOPLE


WEEKLY SHIFT SCHEDULES
TS
LOYEES & PRODUCTION
EFFICIENT MATERIAL
CONTROL
I LOCAL & FOREIGN VENDORS *
NANCE TO MACHINERY, AND
S




' I
*I


LLAC


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Li4_


- ,


I VA%��









FRIDAY, MAY 19, 2006, PAGE 13


THE TRIBUNE


COIC AG


Tribune Comics


RKER


APARTMENT 3-G

TOMMIE TOLD ME YOU'VE BEEN
PROTECTING LU ANN FROAM
LEARN ING OF 5COTT'6 UPCOMItN
SMARRAGE."THAT'S VERY KINP











3LONDIE









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MARVIN
3I BELI VE I t,
BE MATURING



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NON SEQUITUR


CRYPTIC PUZZLE


ACROSS
1 Having cleaned up, she's In the
money (6)
7 Historically, the building
of Rome anew (4,4)
8 An American tramp with Ken in
Belgum (4)
10 A vessel for beer containing
a piece of cake (6)
11 In various cases, see a means of
entry (6)
14 A cricket side (3)
16 A fortune teller's card (5)
17 A tattered robe could be associated
withYork (4)
19 There's one In a Spanish house,
normally (5),
21 A mistake, ilieting? (5)
22 Character of the south of
Australia (S)
23 Hurtled - yet at diminished
speed? (4)
26 Strength of a debtor with
litte money (5)
28 A cnutybird? (3)
29 Female warrior with a
big mouth (6)
30 Has he a nice car to take Edna out
and about? (6)
31 Tongue that bends out
of the way? (4)
32 FIgure to creep cunningly around in
deceit (8)
33 Greater rage, perhaps, between
opposing sides (6)


Yesterday's cryptic solumons
ACROSS 1, Floss 6, Chic-k 9, Cot-Erie 10, Scar-y 11,
Tar.Ry. 12, F-ria-r 13, Sea-ward 15, Pea 17, Oral 18,
B-h-old 19, Rl-n-as 20, T-r-owel 22, Sari 24, Hen 25,
Minarea 26, Sie-l-n 27 Sarah 28, Sugar 29, L-ever-et 30,
Fier 31 Tears
DOWN: 2, Locker 3. S-crawl 4. Soy (so-rr-y) 5, We-I-rd 6,
Citadel 7 Hear 8. Canel 12, F-ral 13, South 14, Aaron
15, Polar 16, Adrri- 18, BA's-in 19, Fea-the-r21, Retail
22, Sal-ule 23 Re-pair 25, MI-les 26, Sale 28, Set


DOWtM
I Sino in a drunkeii brawl -
on key! (6)
2 msr..,, p .-:. l '(6j
3 Possible a cass to a revolver? (4)
4 nJri ,..- creiAor 0o iomeirr ,ng
- nuc',ar! (7)
5 Part of a building for accommodating
the old-fashioned (5)
6 Is tha new form of theft (5)
8 The ring of sanctitude (4)
9 The humble way to live with light
heart (3)
12 iscariot's chariot (3)
13 One drinking too much of the south-
ern water? (5)
15 An exciting future, perhaps? (5)
18 Of this plant, all but the head is
sticky (5)
19 It takes little money to get us upset
about nothing (3)
20 Is there no such price for
a gross? (3)
21 A peer deprived of one is short (7)
22 Just the headgear for an unsafe
zone? (3)
23 Military commander organized raids
to end the war (6)
24 Possibly superior part of
S America (4)
25 One with a taste for wet bread, etc? (6)
26 Soft as an American father (5)
27 Pay for starting work on time (5)
28 Standard of comparison (3)
30 Fight when owed money (4)


=esteruays easy solutions
ACROSS: 1, Usual 6, March 9, Similar 10, Trust 11, Rivet
12, Fluid 13, Stances 15, Led 17, Pert 18, Beware,19,
Giver 20, iruonea 22, File 24, New 25. Trainer 26 Pairs 27,
Below 28, Gaudy 29, Parasol 31, Alley 31, Daecr,
DOWNbt , Sprite 3, Assent 4, Ut 5, Fills 6, Mariner 7, Arid
8, Clever 12, Fetid 13, Spain 14, Arrow 15, Latin 16,
Defer 18, Beers 19, Getaway 21, Reveal 22, Finale 23,
Leader 25, Tread 26, Pope 28, God


ACROSS
1 Robber (6)
7 Driven back (8)
8 Indian dress (4)
10 Ski slope (6)
11 Angry speech (6)
14 Obtain (3)
16 Regions (5)
17 Russian ruler (4)
19 Raged (5)
21 Italian city (5)
22 Deserve (5)
23 River crossing (4)
26 Mature (5)
28 Hill (3)


Representatives (6)
Optical illusion (6)
Gemstone (4)
Included (8)
Cricket team (6)


1. You are South, and the bidding
has gone:
South West North East
14 2 I 3 4 Pass
3 * Pass 4 'Pass


4., K94 V A
With the first
heart losers, he
spades, which
the next three i


? first- or second
What would you bid now with: as well as other
4 AQJ105 V 72 + AK983 4 4 bid six spades.
2. Seven, he
2. You are South, and the bidding those cases wl
has gone: don't, and the
East South West North It's hard to im
3 4 4V Pass 6IV might hold whe
Pass ? a good chance
What would you bid now with: shouldn't try tc
* AK V AQJ843 4 10 , A982 bidding a grand
* * * possible to con
1. Five diamonds. Your partner might have that
has bid rather strongly, and there is risky bid.
no doubt you're close to a slam. In effect, you
However, you can't undertake the ematical propose
slam unilaterally with two heart los- grand slam, the
ers, nor would Blackwood solve the 1 or better in y
problem if partner responded five have to be 10
diamonds, showing one ace. Con- favorable outcc
versely, you can't pass because it contend; all yo'
might easily turn out that slam is ice- tion that partner
cold.' that islikely or
Since you can't tell just how high tricks.
to go, your best shot is to leave the You start by a
decision to partner. He will know have two club 1
you're trying for slam when you bid he could jump t
five diamonds, because otherwise a holding. Nor
you would have passed four spades. an aceless han.
He might have any of the following he held in clubs
four hands, consistent with his previ- to leap to six w
ous bids, and will know exactly what ing hands, an
to do over five diamonds: seven with each
1. * K963 V J4 *Q5 + AKQ82 1. 4Q93 V K
2.4 K764 V 9 *Q104 4 AKJ93 2.4 4Q72 VK
3. * K872 V K5 * 6 4 AKJ1075 3. 4 QJ84 VT




HOW many words of
four letters or more
can you make from I IT
the letters shown
here? In making a
word, each letter may
be used once only
Each must contain the
centre letter and there |\
must be at least one 0
nine-letter word. No
plurals or verb forms
ending in "s", no words with initial capitals and no
words with a hyphen or apostrophe permitted. The
first word of a phrase is permitted (e.g. inkjet in
inkjet printer).


DOWN
1 Accommodation (6)
2 Trader (6)
3 Fit (4)
4 Inhabitant (7)
5 Wash (5)
6 Borders (5)
8 Long poem (4)
9 Decay (3)
12 Staff (3)
13 Dissuade (5)
15 Flower (5)
18 Shoot (5)
19 Tree (3)
20 Floor covering (3)
21 Say in passing (7)
22 Males (3)
23 Hunt (6)
24 Spoken (4)
25 Intensify (6)
26 Black bird (5)
27 Pennies (5)
28 Gratuity (3)
30 Fashior. 4)


TODAY'S TARGET
Good 11; very goo
excellent 22 (or mi
Solution tomorrow


.83 + Q7 4 AK982
hand, containing two
would sign off at five
you'd pass. But with
hands, which contain
[-round heart control,
key values, he would

arts. This is one of
here you do or you
nod here goes to .do.
agine a hand partner,
;re you wouldn't have
for seven, and you
o talk yourself out of
slam just because it's
ncoct a hand partner
t would make seven a

're faced with a math-
sition. To undertake a
odds have to be 2-to-
your favor. You don't
'0 percent sure of a
ime, as some players
u need is the convic-
r will produce a hand
certain to yield all the

assuming partner can't
losers; there's no way
to six hearts with such
could he bid six with
d, regardless of what
s. He is far more likely
'ith any of the follow-
ad you would make
h of them:
K972 + AKQ72 4 5
:1065 *AQJ843 + -
K972 + AK93 7














C0
U U





d 16; 0
WN. ..
, a











w. . > "?


FRIDAY,

MAY18
ARIES - March 21/April 20
No one can resist your fiery charm
this week, Aries. People flock to you
instinctually. Make sure you cast an
equal amount of affection' in their
directions also.
TAURUS - April 21/May 21
You may need to understand
another point of view later in the
week, even if you're not up to
adopting it. It's best to keep an open
mind in all situations.
GEMINI - May 22/June 21
You feel empowered to blow past
all of the things which have been
slowing you down. Take an interest
,in someone's affairs and lend a
helping hand.
CANCER - June 22/July 22
Don't feel pressure to rush
through things this week,. Cancer.
Remember, the tortoise beat the
hare in the end. Enjoy looking at
those things along the j6urney -
it's that much more funr. "
LEO- July 23/August 23
You spend your days among those
closest friends this week;. Leo.. There's
norneed to take a leadership role when
you're seeing everyone; asequals.
Romance is possible on Wednesday.
VIRGO - Aug 24/Sept 22
If others insist on annoying you,
keep your distance. Yof shouldn't
get caught up in their foul nmood or
let it bother you one bit. Delight in
some quality "alone time."
LIBRA - Sept 23/Oct 23
If -you act in a selfless manner this
week, Libra, your actions wilhhave a
surprisingly large impact. Ybu can
make more of a difference than you
know. Enjoy the moment. -
SCORPIO - Oct 24/Nov 22
Stop being so critical, Storpio. It's
high time you start judging people
by their results rather than what they
did to get there. A new way of think-
ing inspires you on Tuesday. ,
SAGrITARIUS -Nov23/Dec21
Dive headfirst into an adventure in
excess, Sagittarius. You may Want to
rule your life by your emotions for a
while, since you are feeling so posi-
tive. You can't *seem to get enough,
so feel free to ask for more.
CAPRICORN - Dec 22/Jan 20
You have a hard time keeping secrets
this week, Capricorn. Although you may
not be more talkative than usual, others
seem to be more perceptive. Confide
only in those people you trust.
AQUARIUS - Jan 21/Feb 18
Favorable events unfold in ,record
time this week, Aquarius. You are in
search of quality things and liave no
patience for anything less. Scorpio
shares your point of view.
PISCES - Feb 19/March 20
Your instincts are sharper than usual,
Pisces, so don't believe anything.you
know deep-down is not true. A friend-
ship needs mending and you should
take the first step.


I C H SS by e o na d B a d e n


8118








-�


e f g h


From an internet blitz game, 2006.
Winning tactics are usually
presented as a smooth and logical
progress to a decisive advantage, 7
but real-life games are often more 6
haphazard. Here I was White in a
Sicilian Defence and had gone for s
the usual king's side attack while 4
Black countered on the other flank.
My rosy dreams of Bxg7 and Qxh7' 3
mate were interrupted by Black's 2
L..Be71 which pins the g5 knight
and meets 2 Bxg7 by Bxg53Qxg5
Kxg7. True, White would then keep
an attack by 4 Ne4 but I was
enticed by L.Be7 2 Rf6 with the
idea Bxtf 3 exf6 and mate soon
follows. Again my self-
congratulations were disturbed,
this time by L..Be7 2 Rf6 Bxf6 3
exf6 Nh5 when White's attack


PUZZLE SOLUTIONS



V 94tN 9WO E 9PM 9MllZ L0r9-1 uoMISsw9"


a b c d


JUDGE PAl


TIGER


seems hated w e Back Is ready to
organise ounterplay. However, if yur
basic strategy Is harmonious, tactical
oppormuties may sm ectedy
oecur. What happ after 3-J
IE M BAIIEN


- .1 . - i






FRIDAY, MAY 19, 2006, PAGE 11


THE TRIBUNE


_ - .4^� . ^B1 *


W HAT'S


EMA I L :


PLEASE


ON IN AND AROUND NASSAU














YDELEVEAUX@TRIBUNEMEDIA.NET -


PUT "OUT THERE" IN THE SUBJECT LINE


MONDAY I-

* THE ARTS

The National Art Gallery of the Bahamas (NAGB)
is holding an African Art Exhibition - "What is
Africa to Me" from the private collection of Kay
Crawford running until Saturday, July 29.

* HEALTH

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: New Providence
Community Centre: Mondays - 6pm to 7pm. The
Kirk: Mondays - 7:30pm to 8:30pm

Diabetes Directions a FREE diabetic support
group meets the first Monday of each month at
6:30pm at New Providence Community Cetitre,
Blake Road. Dinner is provided and free blood sug-
ar, blood pressure and cholesterol testing is avail-
able. For more info call 702.4646 or 327.2878

MS (Multiple Sclerosis) Bahamas meets the third
Monday every month, 6pm @ Doctors Hospital
conference room.

* CIVIC CLUBS

St Andrew's Kirk holds an After-School Pro-
gramme for children from the Woodcock and
Albury Sayle Primary Schools. The free pro-
gramme is held Monday to Friday @ St Andrew's
Presbyterian Kirk and is open to children from the
Bain and Grants Town communities. Parents inter-
ested in enrolling their children should contact the
church at 322.5475 or email:
standrewskirk@yahoo.com
Toastmasters Club 3596 meets at the British Colo-
nial Hilton Monday's at 7pm * Club 612315 meets
Monday 6pm @ Wyndham Nassau Resort, Cable
Beach * Club 3596 meets at the British Colonial
Hilton Mondays at 7pm. - --

The Nassau Bahamas Pan-Hellenic-Geuneil---
(NPHC) meets every third Monday of the month in
the Board Room of the British Colonial Hilton
Hotel, Bay St.

TUESDAY

* PARTIES, NIGHTCLUBS
& RESTAURANTS

10.10.2.20. @ Club Nirvana: Tuesday nights at Club
Nirvana, Elizabeth Avenue, have been dubbed
10.10.220. Every tenth female patron is allowed
into the club absolutely free and is given a compli-
mentary glass of Carlo Rossi. Tuesday nights also'
include the Carlo Rossi's Hot Body Competition.
Hosted by Daddi Renzi and music provided by DJ
Ai from 100 Jamz. Master Chef Devito Bodie pro-
vides scrumptious appetizers.

* THE ARTS

New - "Bahamain Art 1492 -1992" - NAGB will be
hosting a Bahamian Art History Lecture @ the
gallery Tuesday, May 25.

* HEALTH

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: The Nassau Group,
Rosetta Street: Tuesday - 6pm to 7pm/8:30pm to
9:30pm.
The Cancer Society of the Bahamas meets at
5:30pm on the second Tuesday of each month at
their Headquarters at East Terrace, Centreville.
Call 323.4482 for more info.

Pre & Post Natal Fitness Classes are being held
6:30pm Tuesdays at Nassau GymNastics Seagrapes
location (off Prince Charles Dr). Doctor approval is
required. Call 364.8423 to register for more info.

* CIVIC CLUBS

Toastmasters Club 1095 meets Tuesday, 7:30pm @
C C Sweeting Senior School's Dining Room, Col-
lege Avenue off Moss Road.
Club Cousteau 7343 meets Tuesdays at 7:30pm in
the Chickcharney Hotel, Fresh Creek, Central
Andros.
Club 7178 meets each Tuesday at 6pm at the Can-
cer Society of the Bahamas, 3rd Terrace, Centre-
ville.

Alpha Kappa Alpha Sorority, Eta Psi Omega chap-
ter meets every second Tuesday, 6.30pm @ the


Eleuthera Room in the Wyndham Nassau Resort,
Cable Beach.

Alpha Phi Alpha Fraternity meets every first Tues-
day, 7pm @ Gaylord's Restaurant, Dowdeswell St.
Please call 502.4842/377.4589 for more info.

Kappa Alpha Psi Fraternity meets every second
Tuesday, 6:30pm @ Atlantic House, IBM'Office,
4th floor meeting room.

Alpha Phi Alpha Fraternity meets every first Tues-
-day,-6:30pn-atthetBritish Colonial Hilton. Please
call 502.4842/377.4589 for more info.
- WEDNESDAY


* PARTIES, NIGHTCLUBS
& RESTAURANTS
LIVE MUSIC @ The Buzz, Nassau's Weekly Jam
Session & Musicians Hook-up. Located East Bay
Street two doors East of Esso On The Run.

Hump Day Happy Hour @ Topshotters Sports Bar
every Wednesday 5pm-8pm. Free appetizers and
numerous drink specials.

* HEALTH

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: New Providence
Community Centre: Wednesday - 7pm to 8pm. The
Nassau Group: Rosetta Street, Wednesday - 6pm to
7pm / 8:30pm to 9:30pm.

* CIVIC CLUBS

Bahamas Association for Social Health '(BASH)
presents the Earth Village Ranch (petting zoo), St
Albans Drive and Columbus Avenue. Free admis-
sion every Wednesday by appointment between
9am and 3pm. For more information or to book
events call 356.2274 or 434.8981. Special rates avail-
able for groups of 20 or more with a two week
advance reservation.

The Nassau Bahamas Alumnae chapter of Delta
Sigma Theta Sorority Incorporated meets 6:30pmr
every third Wednesday at the Bahamas National
Pride Building.

TM Club 753494 meets every Wednesday, 6pm-
8pm in the Solomon's Building, East-West High-
way. TM Club 2437 meets the 2nd and 4th
Wednesday of each month at C C Sweeting Senior
High School, Oakes Field.

International Training in Communication, Essence
Club #3173 holds its bi-monthly meetings on the 1st
and 3rd Wednesday of each month at Doctor's
Hospital Conference Room.

Nassau Council 10415 Knights of Columbus meets
the second and fourth Wednesday of the month,
8pm @ St Augustine's Monestary.

I THURSDAY

* HEALTH

Alcoholics Anonymous, wishes to inform the public


New - The Bahamas Historical Society is scheduled
to hold its next meeting June 8 at 6pm @ the Muse-
um on Shirley Street and Elizabeth Avenue. The
guest speaker will be Dr John Burton of DePaul
University, Chicago. His topic will be "To Sell
Again": Economic Life of Nineteenth-Century San
Salvador.

TM Club 3956 meets Thursday, 7.30pm @ British'
Colonial Hilton.
TM Club 1600 meets Thursday, 8.30pm @ Super-
Clubs Breezes.

International Association of Administrative Profes-
sionals, Bahamas Chapter meets the third Thursday
--of every month @ Superclubs Breezes, Cable
Beach, 6pm.
| - | ,. .. ^ : . . ., ; . ^ . , . ,


*--:l.. FRIDAY .I
* PARTIES, NIGHTCLUBS
& RESTAURANTS

Cafe Europa on Charlotte Street North, kicks off
every Friday night with Happy Hour... special
drinks, live music/DJ from 6pm to 9pm and Nas-
sau's first European Night Restaurant - Open Fri-
day night till Saturday morning 5am, serving hot
food/and take out - music, drinks and an English �
breakfast. Cafe Europa...the perfect place to spend
your night out till the morning.

* THE ARTS

New - Track Road Theatre presents Emille Hunts'
'Da Market Fire!' May 19 and 20 @ the National,
Performing Arts Centre. The play is directed by
Deon Simms. For more information check out '
www.trackroadtheatre.org or call 392.0275 or
380.4334.

* HEALTH

New - Autism Awareness Week
Conference on Autism Spectrum Disorders
Workshop for Professionals - May 19 @ 9am - 4pm
(New Providence Community Centre)
Workshop for Families - May 20 @ 9am - 4pm
(Garvin Tynes Primary School)

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: The Nassau Group,
Rosetta Street: Fridays 6pm to 7pm & 8:30pm to
9:30pm. Sacred Heart Church - Fridays @ 6pm to
7pm
New Providence Community Centre: Fridays @
7pm to 8pm.

* CIVIC CLUBS

TM Club 9477 meets Friday, 7pm @ Bahamas Bap-
tist Community College Rm A19, Jean St.

AMISTAD, a Spanish club meets the third Friday
of the month at COB's Tourism Training Centre at
7pm in Room 144 during the academic year. The
group promotes the Spanish language and culture
in the community.

Nassau Bahamas Koinonia meets every second Fri-
day of each month, 7.30pm at Emmaus Centre at St
Augustine's Monestary. For more info call 325.1947
after 4pm.


H SATURDAY,
* PARTIES, NIGHTCLUBS
& RESTAURANTS

New - Sun City Entertainment presents Saturday &
Sunday night functions for the alternative lifestyle
crowd (Gay) at Kendal's Auto Garage on Glad-
stone road from 11:30pm to 4am. Music provided
by DJ X. Heading south on Gladstone Road,
Kendal's is located immediately past Moss Gas sta-
tion.

* THE ARTS

Postponed - The NAGB was scheduled to hold a
Youth Workshop on Audio Recording - Saturday,
May 27 from 10am to 1pm, for children 12 years
and older. Instructor: Christian McCabe. Contact
the Gallery to reserve a seat @ 328.5801. The event
has been postponed until further notice.

* HEALTH

Alcoholics Anonymous, wishes to inform the public
of its meeting times and places: The Nassau Group,
Rosetta Street: Saturday mornings - 10am to 11am.

Bahamas Diabetic Association meets every third
Saturday, 2:30pm (except August and December)
@ the Nursing School, Grosvenor Close, Shirley
Street.

Doctors Hospital - CPR and First Aid classes are
offered every third Saturday of the month from
9am-lpm. Contact a Doctors Hospital Community
Training Representative at 302.4732 for more infor-
mation and learn to save a life today.

* CIVIC CLUBS

JAR CYCLING: The owners of JAR Cycling are
pleased to offer a cycling clinic for juniors between
10 and 17. The free clinic will be held every Satur-
day in an effort to encourage kids to cycle. Parents
interested in registering their children should con-
tact organizers at jarcycling@gmail.com

Minl SUNDAY. .--
* PARTIES, NIGHTCLUBS
& RESTAURANTS

New - A Family Festivus Tiny Tots Day Out! will
be held Sunday, May 21 from 1pm to 5pm @ the
Botanical Gardens. There will be.pony rides, face
painting, tiny tunes, tiny tots gymnastics and daddy-
and-me Olympics and many more fun and games
for the tiny tots. Tickets will only be sold in advance
- $5 for adults and $8 for children - covers all activi-
ties except food. Tickets are available at Logos
Bookstore and Global United Store in the Sandy-
port Olde Town Mall. For more information call
427.5783 or send an e-mail to
familyfestivus@yahoo.com. All proceeds will go to
United Nations Children's Fund (UNICEF) and
Doctors Without Borders.

Traveller's Rest Restaurant, West Bay Street, fea-
tures special entertainment - Gernie, Tabitha and
the Caribbean Express - every Sunday from 6:30pm
to 9:30pm.

The Graham Holden Deal @ The Green
Parrot....David Graham, Steve Holden, Tim Deal
and Friends perform Sunday, 7pm - 10pm @ Hurri-
cane Hole on Paradise Island.

Sunday Night Interlude @ Briteley's Restaurant &
Lounge, Eneas St off Poinciana Drive. Featuring
Frankie Victory at the key board in the After Dark
Room every Sunday, 8.30pm to midnight. Fine
food, drinks.

HEALTH

Alcoholics Anohymous, wishes to inform the public
of its meeting times and places: The Nassau Group,
Rosetta Street: Sunday 6pm to 7pm / 8:30pm to
9:30pm.

* CIVIC CLUBS

New - The Cat Island Sailing Club will host its
Annual Cat Island Day - Sunday, May 28 at the
Western.Esplanade from 10am --until.


Send all your civic and social events to
The Tribune
via fax: 328.2398 or e-mail: ydeleveaux@
tribunemedia.net/Out there in subject line


______H__ R,,-.%


4.4


"Safety comes in cans. I can, you can, we can."


.........................................................................................................................................................................................................................................











"COOKIES


CANCER" """'

HIGH 88F.
LOW 72F

SSUNNY AND
*w' WARM


Volume: 102 No.148


The


Tribune


FHIDAY MAY, 19, 2UU00


In


li esp"


Men die after shooting

and stabbing in

separate incidents


* By NATARIO McKENZIE
POLICE admit that the addi-
tion of the country's two most
recent homicides has raised con-
cern. However, with the signifi-
cant leads they now have in the
cases they are confident they will
be able to bring closure to their
investigations very soon.
Two men died yesterday of
injuries suffered in separate inci-
dents that occurred less than six
hours apart.
Yesterday police declined to
speculate on the motives for the
murders but noted that they
were following significant leads
into the matters.
Police say they have an indi-.
vidual in custody who is assisting
them in their investigations into
Thursday's first homicide.
Omeleo Griffith, 21, a resident
of Yellow Elder Gardens, died
from a stab wound sustained in
an altercation with a male rela-
tive early yesterday morning.
Police say that around 9 am yes-
terday Griffith and the relative
were involved in an argument at
Graham Drive Yellow Elder
Gardens. Griffith was stabbed in
the chest.
He was taken to the hospital
Where he later died.
The second homicide occurred
at the Pond Wash laundromat,
located near Barcardi Road,
sometime after 1 pm yesterday.
Chief Superintendent of Police
Marvin Dames told The Tribune
yesterday that 23-year-old Eric
Mcgregor of Bacardi Road was
shot as he was about to enter the
laundromat. Mr Dames said that
as Mcgregor neared the entrance
to the building he was
approached by a gunman who
had just got out of a light
coloured Suburban. The man


reportedly shot Mcgregor in the
upper part of his body before
getting back into the vehicle and
fleeing the scene. According to
Mr Dames, Mcgregor mustered
enough strength to make his way
into the laundromat where he
collapsed and died.
"We are following a number
of leads in connection with this
matter and are confident that we
will be in a position to identify
the perpetrator of this heinous
act very soon," Mr Dames said.
"One obviously has to be con-
cerned with the manner in which
persons involved in acts such as
these are carrying them out," Mr
Dames said. "We have been
extremely successful in bringing
such matters to closure and we
are certainly on the right track
with these latest two," Mr
Dames said.
Mr Dames noted that to date
the police have completed their
investigations into most of the
homicides this year. Noting that
there have so far this year been
21 homicides in the Bahamas,
Mr Dames told The Tribune yes-
terday, "We still have one matter
that is outstanding for New Prov-
idence, (the death of Angelo
Strachan) that we are currently
following some leads into and
that means that our detection
rate is well above average com-
pared to any other country."
Confident that the police will
soon be able to wrap up their
investigations into the country's
two latest homicides, Mr Dames.
said: "We are now beginning to
pick up some significant leads in
our investigations into the death
*of Angelo Strachan and if we are
able to close that investigation
we would then have one out-
standing matter for Grand
Bahama".


see. 'P

ADM c WalE"

Dayit 1~~


," - "
* THE body of 23-year-old Eric Mcgregor is removed from inside the Pond Wash laundromat (which is located near Bacardi Road)
and placed inside a hearse. Mcgregor reportedly died after sustaining a gunshot wound to his upper body.
(Photo by Felipe Major/Tribune staff)


Haitian-Bahamian Hubert Ingraham
speaks out against hears Guana Cay
newly implemented residents' concerns
immigration policy On development


* By DENISE MAYCOCK
Tribune Freeport Reporter
FREEPORT - A Haitian-
Bahamian business professional
is criticising the PLP's newly
implemented immigration policy
and is demanding that "illegal"
acts against Haitians discontinue
immediately.
Businesswoman and human
rights activist Jetta Baptiste said if
the Immigration Department con-
tinues to arbitrarily arrest chil-
dren and other innocent Haitians
in the community they will be
forced to seek international assis-
tance in dealing with the matter.
"So far we have refrained from
protesting, bringing international
media attention, calling for eco-
nomic boycotts and sanctions
against the Bahamas, but don't
believe one minute that these
measures will not be taken if we
SEE page nine


FNM Leader Hubert Ingraham
and his parliamentary team met
with residents of Guana Cay,
Abaco, Thursday as well as with
the developers of the Bakers Bay
project, to ascertain the scope of
the residents' environmental con-
cerns, and to relay the same to
the project's developers.
Mr Ingraham said meetings
held demonstrated that most of
the residents' concerns can be sat-
isfactorily resolved. He also said
the developers have agreed to
make available their Environ-
mental Management Plan (EMP)
and the project's full Environ-
mental Impact Assessment (EIA)
for public review, and could
review the possibility of settling
. for a lesser acreage of land than
they were previously granted by
the present government.
SEE page nine


Govt discussing
possibility of
exchanging land
at Bozine Town
* By RUPERT MISSICK Jr
Chief Reporter
GOVERNMENT is discussing
with the principals of LANDCO
the possibility of exchanging the
land at Bozine Town and
Knowles Drive for government
owned property, Agriculture
Minister and MP for'the area
Leslie Miller told The Tribune
yesterday.
Mr Miller once again gave his
assurances that no one will be dis-
placed in Bozine Town.
The minister was expected to
convey this message to his con-
stituency at a meeting last night.
"I have spoken to (the devel-
opers) and they are not adverse to
it. In fact they want to sit and talk
and try to work out something.
They don't want t6 displace any-
one, they want an amicable reso-
SEE page nine


'Luxury' vehicles

confiscated by,

Customs officials
* By PAUL TURNQUEST
Tribune Staff Reporter
A NUMBER of business-
men, religious leaders, doctors,
and their wives, have had their.
"luxury" vehicles confiscated by
Customs officials.
Comptroller John Rolle
reports that this operation is a
continuing one that began on
Mother's Day where officials
are seizing the vehicles because
they had been undervalued on
their Customs forms by an auto
dealer in New Providence.
During the gathering of this
information a number of high-
profile names have been called,
whose Jaguars, Mercedes, Jieps
and other vehicles were confis-
cated. However, Mr Rolle said
that, as the operation is still con-
tinuing, he is unable to confiiln
SEE page nine :<


-*1


Nasa adBaam slnd' ediii ewpae


#1 PAPER IN CIRCULATION



Be Miami HeraDt
BAHAMAS EDITION


IiuI.s~Igh


AN/ R A A%/ 4


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rmrivec - /o0c


Iowa







THE TRIBUNE


PAGE 14, FRIDAY, MAY 19, 2006


YOUR CONNECTION TO THE L'ORLD


POSITION VACANCY


Chief Financial Officer (CFO)

The Bahamas Telecommunications Company Limited (BTC) invites applications for
the above position from suitably qualified persons with relevant experience in the
telecommunications or related industry.

GENERAL ACCOUNTABILITIES

This position develops and directs the Company's accounting and control activities to
protect the assets of BTC and to ensure the internal and external integrity of accounting
standards and financial controls. The CFO is to provide accurate and timely monthly
corporate performance reports and annual budgeting information to Board members,
executives, senior managers and line managers. The CFO also directs the formulation
and implementation of the Company's finance I goals and objectives including cash
management, banking and relations with banks and investment firms, risk management
and capital funding requirements. The enhancement of revenue (including the
implementation of measures to stop revenue leakage) is an important requirement for
this position.

This is an executive management position reporting to the President & Chief Executive
Officer and the Chairman oT the Finance Committee of the Board of Directors. As the
Chief Financial Officer of BTC, the holder of this position provides the Board and
senior management with informed and timely opinions on the Company's financial
performance and trends impacting operations.


SPECIFIC ACCOUNTABILITIES
1. Develop and direct the Company's accounting and control activities to protect the
assets of BTC, to ensure the internal and external integrity of accounting standards
and financial controls, and to provide accurate and timely reporting and budgeting
information to Board members, executives, senior managers and line managers.

2 Direct and prepare for printing and distribution all statutory accounts and annual
audited financial reports.

3. Direct the formulation and implementation of the Company's financial goals and
objectives including: cash management, banking and relations with banks and
investment houses, risk management and capital funding requirements.

4. Provide the Board and Executive Management with informed and timely opinions
on the Company's financial performance and trends impacting operations.

5. Protect the assets of the Company by directing the accounting and control, financial
planning, statutory reporting, and risk management activities on a company-wide
basis.

6. Enhance the Company's public image by ensuring the integrity of accounting and
control standards and procedures and by providing the published annual report on
a timely basis.
7. Contribute to the aims and objectives of BTC by providing informed advice relative
to the Company's financial performance, the general business environment and
developing trends impacting BTC's activities.

8. Contribute to increased corporate revenues through effective cash management and
by preparing and presenting financial operating data for Board and executive
approval.
9. Contribute to the reduction of operating expenses through the development and
implementation of accounting and-control procedures and systems to provide
accurate and timely data for the information of the Board, executives and managers.

10. Ensure the Company's continued access to capital at competitive rates by ensuring
the flow of financial information, by maintaining contact with commercial and
investment banks and by directing accurate and timely financial planning and
budgeting.

11. Ensure the necessary human resources to meet both the current and future needs
of the finance division by participating in tl . selection, mentoring, motivation
and development of managers and staff.

12. To attend as required all meetings of the Executive Committee, the Board of
Directors and the Finance Committee of the Board and any other relevant committee.

'13. To arrange for the audit of BTC's financial statements in a timely manner and to
liaise with BTC's external auditors as required.

14. To ensure prompt action to implement recommendations made by the Internal
Audit Department in their reports to the Audit Committee of the Board and the
senior management.

REQUIREMENTS

The successful candidate should be a member of a recognized accounting body from
the U.K., Canada or the USA, possess a thorough working knowledge of International
Accounting Standards (IAS) and meet the following requirements:

* A CPA or ACA designation with at least ten (10) years of commercial post-qualification
experience with proven senior management experience in the'telecommunications
industry.

* Exceptional interpersonal and communications skills.

* Expertise in implementing Enterprise Resource Planning (ERP) systems.

COMPENSATION

BTC offers a competitive salary and excellent benefits commensurate with
qualifications and experience and in line with compensation and benefits afforded
senior executives in the private sector.

It is BTC's intention to execute a contract with the successful applicant for'a
period of three (3) years with an option to renf v the contract for a mutually agreed
period.

All applications are to be received at BTC's Head Office, 21 John F. Kennedy Drive,
no later than June 6th, 2006 and addressed as follows:

Director of Human Resources


The Bahamas Telecommunications Company Limited
John F. Kennedy Drive
P. O. Box N-3048
Nassau, Bahamas

Re: Vacancy: Chief Financial 'Officer


YOUR CONNECTION TO THE WORLD


POSITION VACANCY


Deputy Chief Financial Officer (DCFO)


The Bahamas Telecommunications Company Limited (BTC).invites applications for the above
position from suitably qualified persons with relevant experience in the telecommunications or
related industry.


GENERAL ACCOUNTABILITIES

The holder of this position assists the Chief Financial Officer as he or she develops and directs
the Company's accounting and control activities to protect the assets of BTC and to ensure the
internal and external integrity of accounting standards and financial controls. The CFO is to
provide accurate and timely monthly corporate performance reports and annual budgeting
information to Board members, executives, senior managers and line managers. The CFO also
directs the formulation and implementation of the Company's financial goals and objectives
including cash management, banking and relations with banks and investment firms, risk
management and capital funding requirements. The enhancement of revenue (including the
implementation of measures to stop revenue leakage) is an important requirement for this position.

This is an executive management position reporting to the Chief Financial Officer (CFO).

SPECIFIC ACCOUNTABILITIES

To assist the CFO and provide leadership in the Finance Division with the following:
1. Develop and direct the Company's accounting and control activities to protect the
assets of BTC, to ensure the internal and external integrity of accounting standards
and financial controls, and to provide accurate and timely reporting and budgeting
information to Board members, executives, senior managers and line managers.

2. Direct and prepare for printing and distribution all statutory accounts and annual
audited financial reports.

3. Direct the formulation and implementation of the Company's financial goals and
objectives including: cash management, banking and relations with banks and
investment houses, risk management and capital funding requirements.

4. Provide the Board and Executive Management with informed and timely opinions
'on the Company's financial performance and trends impacting operations.

5. Protect the assets of the Company by directing the accounting and control, financial
planning, statutory reporting, and.risk management activities on a company-wide
basis.

6. Enhance the Company's public image by ensuring the integrity of accounting and
control standards and procedures and by providing the published annual report on a
timely basis.

7. Contribute to the aims and objectives of BTC by providing informed advice relative
to the Company's financial performance, the general business environment and
developing trends impacting BTC's activities.

8. Contribute to increased corporate revenues through effective cash management and
by preparing and presenting financial operating data for Board and executive approval.

9. Contribute to the reduction of operating expenses through the development and
implementation of accounting and control procedures and systems to provide accurate
and timely data for the information of the Board, executives and managers.

10. Ensure the Company's continued access to capital at competitive rates by ensuring
the flow of financial information, by maintaining contact with commercial and
investment banks and by directing accurate and timely financial planning and
budgeting.

11. Ensure the necessary human resources to meet both the current and future needs of
the finance division by participating in the selection, mentoring, motivation and
development of managers and staff.

12. In the absence of the Chief Financial Officer to attend as required all meetings of
the Executive Committee and the Finance Committee of the Board and any other
relevant committees.

13. To arrange for the audit of BTC's financial statements in a timely manner and to
liaise with BTC's external auditors as required.

14. To ensure prompt action to implement recommendations made by the Internal Audit
Department in their reports to the Audit Committee of the Board and the senior
management.

REQUIREMENTS

The successful candidate should be a member of a recognized accounting body from the U.K.,
Canada or the USA, possess a thorough working knowledge of International Accounting Standards
(IAS) and meet the following requirements:

* A CPA or ACA designation with at least five (5) years of commercial post-qualification
experience with proven management experience in the telecommunications industry.

* Exceptional interpersonal and communications skills.

* Expertise in implementing Enterprise Resource Planning (ERP) systems.


COMPENSATION

BTC offers a competitive salary and excellent benefits commensurate with qualifications
and experience and in line with compensation and benefits afforded senior executives in
the private sector.

It is BTC's intention to execute a contract with the successful applicant for a period of three
(3) years with an option to renew the contract for a mutually agreed period.

All applications are to be received at BTC's Head Office, 21 John F. Kennedy Drive, no later
than June 6th, 2006 and addressed as follows:

Director of Human Resources
The Bahamas Telecommunications Company Limited
John F. Kennedy Drive
P.O. Box N-3048
Nassau, Bahamas

Re: Vacancy: Deputy Chief Financial Officer


-~ ,
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2006, PAGE 15',


THE TFIIBUNE


LOA NW


* KATINA Seymour, humorous speech contest runner-up at the district's fall conference in
October 2005; Craig Valentine, past winner of Toastmasters' World Championship of Public
Speaking. Over 75 Bahamians are expected at the upcoming Florida conference.
(Photo Anthony Longley)



Toastmasters



head to Florida



or conference

TAMPA, FL 7,The Bahamas from the Ministry of Tourism, survey shows that presentation
Ministry of Tourism will join will showcase things Bahamian. skills are crucial to success in the
hundreds of toastmasters this These will include Bahamian work place. The person with
weekend as they flock to the music, decorations and strong communication skills has
Cocoa Beach Hilton for the junkanoo centrepieces. There a clear advantage over tongue-
annual Sprihg Conference of will be door prizes including tied colleagues - especially in a
Toastiasters International Dis- hand crafts sponsored by competitive job market.
trict 47. Bahamian business persons. "Many people pay thousands
Organisers say it is expected The Bahamas division will of dollars for seminars to gain
to be lan exciing weekend for also be represented in the the skill and confidence neces-
the hutidreds ofindividuals who speech contests by Toastmas- sary to face an audience. But
have committed to improving ter Ulsa Evans and Distinguished there's another option that is
their communication skills. Toastmaster Michael Patton. much less expensive and held
Sarttrday has been designated Said a Toastmasters statement: in high regard in business cir-
"Bahamas Day".'The Bahami- "If you are like most people, cles - Toastmasters Interna-
an delegation, with" the "assis- public speaking is not your tional," the statement said.
tance ofa promotional team favorite pastime. Yet survey after Toastmasters International
......_ __ __ _____ started in 1924 with one club at


SIndependence Drive * Phone: 341-4055 t


FUEAL SRVCEFO


Retired Prison
Officer
Mr. Charles
Sidney Sweeting,
72 affectionately
called "Babe"

formerly of Wemyss
Bight Eleuthera, and a
resident of Ridgeland2
Park East, %%ill be held
on Saturday, May 20th,
i 2006, 11:00 a.m. at The
Christian Prayer Centre Faith Avenue North. Bishop
Cicely D. Williams assisted by Elder Leon Williams
and Bishop Ernest Sweeting will officiate and interment
will follow in WoodlawnB Gardens, Soldier Road.
Precious memory are held by, his children, Annalee
Wdodside, Cynthia Smith, Olympia Pearce, Sidney,
Ch ndler and Keva Sweeting; 6 grand-children,
Chiistal Woodside, Cynthra Smith, Ketarrio Annbrister,
Mdrcette Pinder, Valdez Pearce and Malcolm Smith
Jr.F 2 sisters, Mable Delancey and Vera Rolle; 2
brothers, Fr. Stafford Sweeting and Gifford Sweeting
of Wemyss, Bight Eleuthera, numerouss nieces and
nephews, 1 aunt, Effie Brown of Miami Florida; 1
daghter-in-law, Melvern Sweeting; 2 sons-in-law,
Cl menth Pearce and Bernard smith, 7 sisters-in-law,
Kay and Agnes Sweeting of Wemyss Bight Eleuthera,
Sy il Sweeting, Cora Bullard of Freeport Grand
Bahama, Ilene Grant, Maura Bullard and Cynthia
Carn; I brother-in-la, Hugh Bullard; 1,God-child,
Simeon Rolle Jr., other relatives and mends include;
Jernie Sweeting and family, Manr Sweeting and family,
Idona Buirrox s and family, t)orothe Rolle and family,
Father' James Moultrie and family, Esther Daxon,
Shjrley Scavella and family, Florence Johnson and
family, Mr. Stubbs and family, Carmetta Johnson and
farily, The Christian Prayer Centre Members, Kenneth
Swxeeting, Sister Verneisha Jaitor and family, Sister
Pegrl McKenzie and family, Mother Pat and family,
Mi Munroe and family, Mr. Ferguson and family, Ms.
Tatia Knowles and family, Kemp Road Crew, Terry,
Stdphanie. Linda, Elizabeth Sweeting, Basket Ball
CotClh Pegs. Chestnut Crew, Mr. and Mrs. Jerry Kemp
and fir i'iy,: S bil Peter and family, Mr. J. Smith.,
Ridlgeland Park Crew, Centreville Crew, Ms. Debbie
Deleveaux and family, Miss. Blanche Rolle and family,
Ctonout Grove Crew, Sandra Humes and family,
Raque, Mbonique and family, Nurse Ingraham and
far mily of Miami Florida, Ms. Tanya Major and family,
M�. Gwenr Hunt, Ms. Magnola Walker, Ms. Lockhart,
MI. Minnis, Ms. Moxey, Mr. Hutchinson, Ms. Viola
Marshall, Mr. King Johnson and family, Adelaide
Village Crew, Ms. Chisholm and family, Katie and
M4rgaret Smith.
Relatives and friends may view the remains at THE
CHAPEL OF MEMORIES INDEPENDENCE
DI VE on Friday from 10:30 a.m.-6:30 p.m. and at
th church on Saturday from 10:00 a.m. to service
tim e. "'* " . . .
i______________


the YMCA in Santa Ana, Cali-
fornia. It has grown to become
the world's leading organisation
for helping people conquer their
pre-speech jitters.
It is a non-profit educational
organisation that teaches public
speaking and leadership skills
through a worldwide network
of clubs.
The organisation currently
has around 211,000 members in
10,500 clubs in 90 countries.


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WIN one of 24 Frescata Picnics for up to 12 friends!

Drawings will be held each week for (4) weeks. Tune in to 100
JAMZ and JOY F.M radio stations for details.


.dI .~- /Ab~
3$ ~ a~h W5~
Ed ~


Do what tastes right:


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FRIDAY, MAY 19,,'


t











Dominican president's party appears set for big gains - U


* SANTO DOMINGO,
Dominican Republic
PRESIDENT Leonel Fer-
nandez's party was poised to
make significant gains in Con-
gress in the Dominican Repub-
lic's first legislative elections
since he took power, accord-
ing to the latest results Thurs-
day, according to Associated
Press.


With 1.5 million votes from
Tuesday's election counted,
Fernandez's Dominican Lib-
eration Party appeared to lead
in about 60 percent of the
races, although elections offi-
cials said many were still too
close to call.
The party currently has just
one senator in the 32-seat Sen-
ate and about a quarter of the
seats in the House. On Thurs-


day, it had 50 percent of the
national vote and was ahead
in races for 19 of the Caribbean
nation's 32 provinces, accord-
ing to the electoral commis-
sion.
But the commission said just
a few hundred votes separated
races in several provinces. In
Pedernales, which borders
Haiti, Fernandez's party led by
just nine votes.


134Ric q W , , .-,
* MALNOURISHED children and their mothers sit together awaiting food and medication in the
small town of Madaroufa 32 kilometers (20 miles) from Maradi, Niger in this 2005 photo.
(AP FILE Photo/Schalk van Zuydamn)


Children's event


to raise money


for crisis in Niger


THE proceeds from a chil-
dren's event being held in
Nassau this weekend will be
donated to the .fight against
the ongoing health crisis in the
central African nation of
Niger.
The event, "Family Festivus:
tiny tots day out!" is being
held this Sunday, 21 May at
the Botanical Gardens
between 1pm and 5pm.
Tickets are available at
Logos Bookstore in the Har-
bour Bay Shopping Centre, at
the Global United (GUL)
Store in Sandyport or
by e - mailing :
familyfestivus@yahoo.com.
Niger, a country nestled
between Algeria, Chad and
Nigeria in Africa, is battling
severe malnutrition among its
population.
On top of the high death
rate from starvation, the coun-
try is now in the throes of a


meningitis epidemic.
Nigerian children are the
most vulnerable and are dying
in at a rapid rate.
One in five children under
the age of five and almost one
in three children under 20
months of age suffer from
acute malnutrition.
Niger is one of the poorest
countries in the world and par-
ents can do nothing to save
their children.
International appeals for aid
by the UN have been poorly
met.
UNICEF and Doctors
Without Borders are both
providing services to combat
the acute malnutrition and
meningitis epidemic.
Doctors Without-Borders
have set up a network of
ambulatory feeding centres in
the worst hit areas. Each
week, children at these cen-
tres receive medical care and a


therapeutic food supplement;
In February, Doctors With ,-i
out Borders also launched'a
massive meningitis vaccin-a.-
tidn campaign. Without treat'-;
ment, 50 to 80 per cent'of-
those who develop acti'Ve
meningitis will die. '
The Family Festivus is being'
held to raise money to help
Doctors Without Bordcers arid
UNICEF with their work i
save the children and tainilies'
of Niger.
Organisers say the c\cnl is.
an opportunity for our \ oun'
children and families t,.o ho e
fun and at the same time raise;'
money for the Niger crisis:^;:
All of the activities are
aimed at young children: pon, '
rides, bouncing castle, face'
painting, tiny tunes and tiny .
tots' gymnastics.
There will also be games
and activities for the fainiI t(.,
participate in together.


i �, ' .:, 1. '.".
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GE .oda


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From I I p.m. on Saturday 20th May

to 8 p.m. Sunday 21st May 2006.

Our Electronic BankingSystem will be temporarily unavailable
during the times listed above while we conduct routine
maintenance on our System Network.

During this period, the following services will be unavailable:
- Internet and Telephone Banking

Please planyour weekend finances to cater for this necessary
maintenance. We apologize for any inconvenience.



www.firstcaribbeanbank.com


GOVERNMENT NOTICE
MINISTRY OF IMMIGRATION, LABOUR & TRAINING

THE MINISTRY OF IMMIGRATION LABOUR and TRAINING,
BAHAMAS TECHNICAL and VOCATIONAL INSTITUTE (hereafter
called the Purchaser) now invites sealed bids, from suppliers for the following:7

1. THE SECURITY SERVICES OF SCHOOL CAMPUS GROUNDS.'
2. THE MAINTENANCE OF SCHOOL CAMPUS GROUNDS.
3. THE RENTAL & MAINTENANCE OF COPIERS FOR B.T.V.I.
CAMPUS.
4. THE RENTAL & MAINTENANCE-OF-SANITARY-DISPOSAL
UNITS FOR ALL FEMALE BATHROOMS ON SCHOOL CAMPUS.

Interested Bidders may inspect CAMPUSbetween the hours of 9:00am i
to 4:30pm, Monday through Friday. Collection of specifications and
bidding documents can be obtain from the Accounts Section of BTVI,
Old Trail Road, Wednesday, 3rd May, 2006.,

Bids must be in English and should be enclosed in duplicate's in a sealed
envelope bearing no identity of the bidder and endorsed with the subject
bided on ("Security of BTVI Campus").

Bids must be deposited in the tender box provided, at the first address,
on or before Friday, 26th May, 2006 by 4:00pm (local time). It will not
be necessary to submit bids in person since they may be sent by mail.
Late bids will be rejected and returned unopened.

Bids will be opened at the public ceremony, in the presence of those
Bidders or their representatives who choose to attend, at 10am on J
Tuesday, 29th May, 2006 at the first address below.


FSERVICE INTERRUPTION


THE TRIBUNE


PAGE 6, FRIDAY, MAY 19, 2006


oov,"71


The Chairman Tender
Ministry of Finance
Cecil Wallace Whitfield
Cable Beach
RO. Box N-3017
Nassau, The Bahamas
Tele: (242) 327-1530
Fax: (242)- 327-1618


GE Triton
Built in Dishwasher,
GSD5500GCC J


Accounts Section
Bahamas Technical &
Old'rrail Road
P.O. Box N-4934
Nassau, The Bahamas
Tele: (242) 393-2804


GEOFFREY


Vocational Institute


-3 0.? -,? / 99/9
Sales & Full Service Department
Rosetta & Montgomery Sts.


The Ministry reserves the right to reject any or all Tenders.


IMPORTANT


NOTICE


I


FIRSTCARIBBEAN
-,.---J.N-TE-RNATTQNAL BANK
GET THERE. TOGETHER.










- PAGE 12, FRIDAY, MAY 19, 2006 THE TRIBUNE


Preval urges public


Ip in security so



UN can leave


- -HAITI
Larchahaie
PRESIDENT Rene Preval
on Thursday urged Haitians to
help his fledgling government
restore security so UN peace-
keepers can leave, saying the
troubled country can't control
-its, destiny with the presence of
"foreign troops", according to
SAssociated Press
Preval, who took power Sun-
day, said the 9,000-strong UN
'- force was still needed to pro-
vide security in the bitterly
divided Caribbean nation.
But he made it clear that he
would prefer that the interna-
tional troops leave Haiti.
' "The faster we can achieve
peace, the faster they can
leave," he told a cheering crowd
of several thousand in this sea-
side town 31 miles north of the
capital, Port-au-Prince. "Why
are we not the owners of our
land? Because we have foreign
troops in our land."
Preval spoke at a ceremony
marking the 203rd anniversary
.. * of Haiti's flag, an important hol-
iday that rouses Haitians' patri-
Sotic fervour.
: Earlier, Preval laid a wreath
at a statue of Haitian indepen-
dence leader Jean-Jacques
Dessalines, who fought off
French colonisers to make Haiti
the world's first black republic.
"When we don't have foreign
troops here, we can say we're
0 the owners of our land again,"
he said.
� The Brazil-led peacekeeping
, force came to restore order
after a bloody February 2004
revolt toppled Preval's prede-
cessor and former ally, Jean-
Bertrand Aristide.
After the revolt, Haiti's capi-
,- tal exploded with street violence
blaamed mostly on pro-Aristide
")'. -gahgs and renegade Haitian
'" - c, 7Polile : ' : '' .. ,
" \I cah clin 'slo h returning
* , ;. ? (I''._________________


31
,'�*-* *".d


M HAITIAN President Rene Preval talks with a girl at the
town of L'Arcahaie, some 31 miles north of Port-au-Prince,
Haiti, at a ceremony marking the 203rd anniversary of Haiti's
flag yesterday
(AP Photo/Ariana Cubillos)


to the nation, Preval called on
Haitians to be more productive
to attract investment to Haiti,
one of the world's poorest coun-
tries. He cited tourism and man-
ufacturing as opportunities.
"We need to start producing
more so we don't have to ask
for aid," Preval said.
International officials say
Preval's cash-strapped govern-
ment will need a quick infusion
of funds to operate.
Juan Gabriel Valdes, who this
week stepped down as the head


of the UN mission, warned of
more turmoil unless Haitians
see results in the next year.
"It would be frankly intoler-
able to see that for lack of inter-
national assistance at this point
in time the country goes back to
previous political and security
conditions," Valdes said.
After Preval's speech, a small
group of Aristide supporters
with bullhorns chanted for the
deposed leader's return, singing
*"We voted for Preval so Aris-
tide could'come back."


LIDLIT


Hi


0


has a vacancy for the position of

JUNIOR ACCOUNTANT

PROFILE:
* A minimum of a Bachelor's Degree in Accounting or
Finance or professional accounting qualification and
planning to pursue the CPA

* One - three years relevant experience with a bank/ trust
company preferred

RESPONSIBILITIES INCLUDE:

* Prepare financial statements

* Assist with reconciliation of custody accounts and
shareholder registers

* Maintain general accounting systems, policies and
procedures

* Administrative support


* Liaise with clients and management


* Ability to work with minimum supervision

* Strong verbal and written communication skills and
organizational abilities

* Good knowledge of software packages including MS
Office


I; 3









'S ~t


m
A
6


I''


The successful candidate will report to the Group Accountant

The successful candidate will be offered a competitive
compensation package including benefits and bonuses
commensurate with his/her experience and performance.


BSI OVERSEAS (BAHAMAS) LIMITED
' BSI Overseas (Bahamas) Limited, Nassau, Bahamas, an established
International private bank, with its headquarters in Lugano, Switzerland, is
:presently accepting applications for the position of Head of Operations.
The successful candidate will report directly to the Financial Controller:-

HEAD OF OPERATIONS
Applicants must have relevant financial accreditation or professional qualifications
,'iand/or at least 7 years proven extensive managerial experience in all phases of
payments & securities and other assets in the offshore banking industry, be fully
abreast of today's sophisticated private banking products, able to confidently
demonstrate hands-on management and be keen to train members of the team,
Partner with other teams for strategy, development and the efficient implementation
-of the Bank's directives, objectives and must have knowledge of Bahamian and
',Swiss legislation, regulatory & statutory matters as well as international banking
practices.

Personal qualities:-
- Proven ability to supervise staff & control the daily flow of transactions and
direct and guide staff through knowledge & example
- Must have demonstrated practical organization of self and others,
specifically the ability to follow up systematically and ensure timely
settlement of all operational transactions
- Will have the experience to solve problems based on sound product and
accounting knowledge and an understanding of the needs of the front
office/clients
- Result-orientated and excellent, leadership skills
- Ability to monitor and evaluate operational procedures and make
recommendations for improvements
- Commitment to quality and service excellence & customer satisfaction
- Extensive knowledge of international markets and financial instruments
- Specific knowledge of processing both payments and securities
- Knowledgeable in MS Office and other p.c. applications
- Fluency in Italian language

Responsibilities :-
- Provide leadership, direction and supervision to the team
- Monitor processing of c.d.'s, structured products, fiduciary deposits, special
bonds, etc.
- Oversee investigations and follow up of all pending matters
- Trouble-shooting, resolving problems and errors
- Liaise with front/back offices, head office, brokers, custodians, etc.
- Authorize reconciliations and review reports

Resumes should be faxed to # 702 1253 or mailed or delivered to the offices of
BSI, addressed to
Personnel Officer
BSI Overseas (Bahamas) Limited
Bayside Executive Park, W. Bay St. & Blake Road
P. O. Box N-7130
Nassau, Bahamas

(ABSOLUTELY NO PHONE CALLS PLEASE)
,, Only applicants having the above,attributes will be contacted.


The Human Resource Director
Fidelity
51 Frederick Steet
P.O. Box N-4853
Nassau
f: 326.3000.

e-mail: careers@fidelitybahamas.com


has a vacancy for the position of

GROUP ACCOUNTANT

PROFILE:


The successful candidate will report to the Financial Controller
The successful candidate will be offered a competitive '
compensation package including benefits and bonuses
commensurate with his/her experience.and performance.
The Human Resource Director
Fidelity
51 Frederick Steet
P.O. Box N-4853
Nassau
f: 326.3000


e-mail: careers@fidelitybahamas.com


THE TRIBUNE


!P,�GE 12, FRIDAY, MAY 19, 2006


)FIDELITY


* A minimum of a Bachelor's Degree in Accounting or
Finance and professional accounting qualification (CPA)

* Three - five years relevant bank/trust company experi-
ence preferred


RESPONSIBILITIES INCLUDE:

* Prepare financial records for all groups

* Prepare Central Bank reports, financial statements, lead
schedules, and management reports

* Maintain bank records and reconciliations

* Manage and maintain general accounting systems,
policies, procedures and accounting administrative
services

* Treasury management responsibilities

* Supervise accounts personnel

* Assist with audits

* Ability to work with minimum supervision

* Strong verbal and written communication skills and
organizational abilities

* Good knowledge of software packages including MS
Office


t'. .- '1


,',- �,. ,









PAGE 4H. Hii '., i '


Grand Bahama firms lose key employee


FROM page 1B


tions coming from every officer
asked.
The Tribune attempted for
two days running to contact
Shane Gibson, minister of
labour and immigration. On the
first day, he referred this news-
paper to Vernon Burrows,
director of immigration, who
did not return calls seeking
comment.
On the second day, neither
Mr Gibson nor Mr Burrows
could be contacted.
Previously, one business
source said it appeared that any
worker granted their first work
permit in 2004 or later was not
being granted a renewal.
In addition, work permit
holders who had legally
switched to new jobs with other
companies in 2004 and after
were being "denied renewals"
for no apparent reason.
To obtain a work permit
renewal, such workers are hav-
ing to leave the Bahamas, go
home and wait while their
employer reapplies for a per-
mit. Companies are often pick-
.ing up the costs of flying
employees back home, then
bringing them back.
Ms Baptiste-Polynice ques-
tioned how the Government
could ask for work permit appli-
cations to be submitted from
the applicants home country
when there was no system or
infrastructure in place to accom-
modate this.


She said: "Will the minister
kindly tell us where in Haiti
can an immigrant go to apply
for a work permit? Who can
they see? What is the address
and phone number of the immi-
gration office in Haiti or any
other country, for that matter,
that is handling these matters?
"Why are they deporting per-
sons who have been here for
more than 49 years? Why are
they deporting persons who
have held more than 18 work
permits?."
Ms Baptiste-Polynice said the
policy was also breaking-up
families, with wives unable to
gain spousal permit renewals.
However, some callers to The
Tribune backed the Govern-
ment for its hardline approach
to clamping down on illegal
immigration.
"I feel the Government is on
track by putting all permits on
stop for now," he said, arguing
that this would help to clear all
fraudulent permits and illegal
immigrants out of the system.
The caller added that he
knew of Bahamians looking for
jobs in the landscaping, gar-
dening and agricultural indus-
tries, but complained that
employers were not paying
attractive enough salaries.
Fred Smith, the outspoken
human rights campaignerwho is
also a Grand Bahama Port
Authority licencee and busi-
nessman in Freeport, said the
sectors most affected by the
Government's approach are
those that rely heavily on Hait-
ian labour, such as janitorial and


Dear Shareholctem


We present ouTr

I$,We arev V;, :
concrete p�l~nt ope~r.p�


in .i ,nf we have'
Frepport fromn
We expert to have i�-

prodUcing eoncipn -
.11 I o j-!1: have V t i s`

ROCK tacihWV thes�:

T ff'Wru to I. H nr
six months this fisca;n
However, -A
t!,,- damaged leased Pe,. c
� d) l ,u . -riir-,- e renn So
rrnarket share, Din' to



F-opol is dra-inur'.
* early .swrnr��i-
gross

VVe anfitclpatf,' I f ,dt '
c-onfi rO O at wt , �l -,1nk q.



Ray Sirrnnp -.
(''- 'Eecutive Officrr


Apri 21 2006


V,�A


-j.!�''-un -aY 28, 2006.

rease min~
)r'.th-' of th is fiscal


't:� Iepant inf



-I -cmOsts is We
yntwhich is
~ ethe F, ihmra


Is) f01 . first
1 iiist '/CeMi
..r 'ti 4 ao'areaof
-Honly
jnlii sales and


S i tic Drive in
.. oen in our new
ur sales and


S and feel


*'In Ba


inwiv 00


242,2175
1 "0,4 2:)


.42 .551'j




x?304


p 4 e n oIe ,,, 0 �
timoO (,n ;1 1


1I


Freeport Concrete Company Limited


Cori'.oliiatic.J S.ta.ement of Operations
Tnr-ee months ended February 28, 2006

Outstanding shares =


4,708,334


E.tprefssed in Bahamian dollars)
3 months ended 3 months ended
February 28. 2006 February 28. 2005

Sales 4,375.230 5.693,824
Cost of sales 3,332.870 4,195,194.
Gross profit 1.042,360 1.398.630

Payroll costs 484,313 789,625
Other .'perating costs 285.998 208.439
Rent expense 109.153 143.027
Advertising expense 26,784 B7.675
litpht,- expense 70,197 64,980
Other income (2,.538) 7O,.49)
949,.908 1,202;997

Income/(loss) before interest, taxes
depreciation and amortisation 92.452 195.633

Depn. and amort. expense (83,180) (64,463)

*...L, ,iin-nie mc expense) (30,466) (21.051)
-- , 1. ..-, biefrie' m norn y inieres- (21.193) 110,0S53

\1i', i,. interest in gain 0 (2-72'

rTe ,'Ik.ne ICos:) (21.193) 107.355


- .... per share
Basic and dilute earnings; (loss) per share $ (0005) 0023


Please nle inai the 6 months to February 28, 2005 figures include the Robin Hood division.
which was sold on August 31, 2005


Freeport Concrete Compamn Limited
Consolidated Balance Sheet
As at February 28, 2006

February 28. 2006 August 31,2005
Unaudited (Audited)

Cash 300.046 107,747
Time deposits 62,566 61,626
Accounts receivable, net 1.316,934 1,309,237
Due trom 'io'mi s uhbsidiary shareholder 48.000 571,500
Due from former subsidiary 224,250 578,500
Inventories 1,856,615 1,861,349
Inventories of spare parts and supplies 190,354 92,143
Deposits and prepaid expenses 106.471 113,376

Total current assets 4,105,236 4.695,478

Fixed assets 3,223,434 2.997,002

Total assets 7,328,670 7,692,480


Li- E.- CITIES
Bank overdraft 759,243 320,532
Accounts payable and accrued
expenses 2,101,895 2,791,916
Warranty Provision 15,809 15,809
W .,,, .-ir, . ,1 tong lerm debt 77,042 177,788

Total cunrent liabilities 2,953,989 3,306,045

Lorng termn ,.iluly 635,664 516,223


SHAREHOLDERS' EQUITY
Share Capital 47,083 47,083
Contributed surplus 5,774,868 5,774,868
Appra'isnl excess 1.433,867 1,433,867
Retained earnings - - --- - ... (3;385,806) (3,385,606)
C.,ii"n CII it. e (131,195)
tolal.1 ,.' 1 , 3,739,017 3,870,212

I ..i..l ,iiiuor. and ,
.,tHeh,�des Qut 7.3288.70 78692,480


THE TRIBUNE
i -


~




4


'.1
~LI


' ~ *
2


:?te'


landscaping firms, the c struction industry, maids, gar-
deners, and the agricultural
industry.
He urged that work perf4its
be used as a tool of national
development. He acknowledged
that while there was probably
10-15 per cent unemployment
among the Bahamian workforce
on Grand Bahama, "despite
their best efforts", Port Authpr-
ity licencees Were unable to find
Bahamian workers for jobs they
considered "menial, low paying
and demeaning".
Mr Smith said Governmen-
t's immigration policy seemed
to be "generally throwing'up
roadblocks to the ordinary con-
duct of business" in Freeport
and Grand Bahama, further
depressing an economy still
struggling to recover from the
2004 hurricane season. J
He added: "As a result of
what people have told me, I am
aware of hundreds of permit
applications that have bedn
refused, hundreds more that
have been deferred, and many
more requested to leave the
country before the application is
processed. ,
"It's becoming a quagmire for
business in Freeport. It smacis
of economic irresponsibility for
the Government to be imple-
menting a policy that makes f'o
sense in a depressed economy.t
Mr Smith said the Publi6
Treasury probably earned $10-
$15 million per annum fio
work permit fees on Granj
Bahama alone, describing kthi
as "no small sum".


ww







THE TRIBUNE


FRIDAY, MAY 19, 2006, PAGE 3B


US eyes lifting its drilling ban


* By H. JOSEF HEBERT
Associated Press Writer

WASHINGTON (AP) -
The House on Thursday debat-
ed whether to end a quarter-
century ban on offshore oil and
gas development in coastal
waters outside the western Gulf
of Mexico, weighing arguments
that new supplies are needed to
lower energy prices.
The drilling ban was removed
from a $25.9 billion Interior
Department spending bill in
committee as it applies to nat-
ural gas and an amendment,
offered on the House floor on
Thursday, would lift the mora-
toriaon offshore oil drilling as
well.
Supporters of the drilling
moratoria, first imposed in 1981
and renewed by Congress each
year since, scrambled to try to
restore the natural gas provi-
sion and also defeat the amend-
ment on oil drilling as lawmak-
ers moved toward a late-night


* By JEANNINE AVERSA
AP Economics Writer

WASHINGTON (AP) -
Rates on 30-year mortgages
clinrbed this week to their
highest point in nearly four
years, helping take the exu-
berhnce out of the housing
market.
Freddie Mac, the mortgage
company, reported Thursday
thai for the week ending May
18 gates on 30-year, fixed-rate
mortgages averaged 6.60 per-
cent, up from 6.58 percent last
week.
This week's rate was the
highest since the week ending
June,20. 2002. when 30-year
mortgages tLood at 6.63 per-
cent. 't


final vote on the spending leg-
islation.
The provisions for the first
time in 25 years would allow oil
and gas development within
three miles of shore along
coastal areas "where tens of mil-
lions of our citizens have made
it clear that they don't want any
more drilling," said Rep. Lois
Capps, D-Calif.
Capps planned to offer an
amendment to continue the
drilling prohibitions.
Florida lawmakers - both
Democrats and Republicans -
said energy development off the
state would threaten a multibil-
lion dollar tourist industry.
Florida depends on tourism
"and we're going to protect it,"
vowed Rep. Alcess Hastings,
D-Fla.
Opponents of the drilling
moratoria argued that access to
offshore oil - and especially
natural gas - would drive
down energy prices and help
reduce the country's depen-


. "While financial markets try
to decipher the spate of recent-
ly released economic reports,
mortgage rates drifted slightly
higher," said Frank Nothaft,
Freddie Mac's chief economist.
"The current debate is
between rising inflation and
slower consumer spending.
Until the market finds out
which influence will be the
strongest, mortgage rates
should continue to fluctuate,"
he said.
Other rates also went up this
week.
Rates on 15-year, fixed-rate
mortgages, a popular choice
for refinancing a home mort-
gage, rose to 6.20 percent, up
from 6.17. percent last cck
For *" tfi e-ye'at;r- h. brid


J
LEGAL NOTICE OF DISSOLUTION

I MORRISON CORPORATION

INTERNATIONAL BUSINESS COMPANIES ACT
i No. 45 of 20001

. In Voluntary Liquidation


itie' i,-hereb givenan acdordance with Secnon 138 181 of The
�, natonal Business Companie_ Act No. 45 of 2000, the Dissolution
pMORRLSON CORP 0 RTION has been corilpleted., a Certificaie
,of Dissolution has been issued and the Compan\ has therefore been
struck off the Regiiter. The date of completion of the dissoluuion was
:the I th da' ot Ma\, 2006.
r



Signed:
Luis Piny aluga
Liquidator/



Major International Bank is seeking a

SENIOR INTERNAL

CONTROLLER
Position:
* Applies head office control methodology and program
* Performs key controls based on risk assessment
* Communicates findings to persons in charge
* Follows-up on errors and irregularities to check for
implementation of recommendations and corrections
* Participates in the assessment and improvement of
procedures
* Reports to the Audit Committee, Head Office and
Senior Management

Requirement:
* 3 to 5 years experience in an international audit firm
* Detailed knowledge of auditing principles
* Dynamic, self-stater with motivation and initiative,
able to manage multiple and sometimes competing
priorities.
* Ability to deal easily with all levels of management
* Clear oral and written communication skills
* Team player
* Computer literate

Remuneration:
* Commensurate with the candidate experience
Candidates are invited to send their
resume and a motivation letter to
P.O. Box CR-56766
Suite #373
Nassau, Bahamas


dence on foreign sources of
energy.
"We have lost millions of jobs
already because of high energy
costs and we're going to lose
millions more," said Rep. John
Peterson, who has argued for
lifting the ban on natural gas
drilling.
Soaring natural gas prices,
which have quadrupled since
1999, have forced companies -
especially in the chemical and
fertilizer industries - to con-
sider moving overseas where
fuel prices are much cheaper,
he said.
Peterson's measure would lift
the congressional ban which
prohibits the Interior Depart-
ment from offering oil or gas
leases in waters along both
coasts and in the eastern Gulf of
Mexico.
But it would not affect a pres-
idential moratoria, issued by
executive order; that is in effect
until 2012.
Drilling proponents also


adjustable-rate mortgages,
rates edged up to 6.23 percent
this week, compared with 6.22
percent last week.
However, rates for one-year
adjustable rate mortgages aver-
aged 5.62 percent this week,
unchanged from last week.
Higher mortgage rates are
slowing home sales. For five
years in a row, home sales hit
record highs as low mortgage
rates beckoned buyers.
Federal Reserve Chairman
Ben Bernanke, speaking in
Chicago Thursday, noted the
slowing in both home sales and
residential construction. "It
seems pretty clear now that the
"U.S. housing market is cool- ;.
min ;Hesaid.'
" ur -as~wssment at fisi:'
point... its that this lookstobbe
a very orderly and moderate
,kind of cooling," Bernanke
added.
The mortgage rates do not
include add-on fees known as
points. The one-year ARM
carried a nationwide average
fee of 0.7 point; the other three
mortgage categories each had
an average fee of 0.5 point.
A year ago, 30-year mort-
gages averaged 5.71 percent,
15-year mortgages stood at
5.27 percent, one-year ARMs
were at 4.26 percent and five-
year ARMs averaged 5.07 per-
cent.



Toadvertis


faced an uphill struggle to get
the moratoria lifted in the Sen-
ate, where senators from coastal
states likely could block any
such action.
President Bush has said he
has no plans to remove the
drilling ban.
But Capps said if Congress
lifts its moratoria and declares
that coastal waters should be
opened to drilling, she fears the
president "is going to revoke
his moratoria" as well.
The offshore drilling issue has
divided Congress largely along
geographic lines.
Lawmakers from coastal
states -both Republicans and
Democrats - worried that


drilling offshore could threaten
their tourist and fishing indus-
tries and bring risks of environ-
mental damage.
"People don't go to visit the
coasts of Florida or the coast of
California to watch oil wells,"
said Rep. Sam Farr, D-Calif.
But many lawmakers from
landlocked states favor devel-
oping the offshore energy
resources, arguing the huge
reserves of natural gas beneath
the waters of the Outer Conti-
nental Shelf from Alaska to
New England represents to
quickest way to gain access to
new gas supplies.
Separately, an attempt, to
debate climate change - and


for the first time bring up for.s ,
vote the idea of mandatory caps"
on greenhouse gases - was
averted when a "sense of Con-
gress" resolution on the subject
was ruled out of order as part of ,
the Interior spending bill. ,I
The climate provision offered
by Rep. Norman Dicks, 0-
Wash., would have put law-
makers on record as agreeing,
that human actions were con-.,.
tributing to global warming anid
that carbon emissions into the
atmosphere should be limited. .
The Senate approved a simi-
lar sentiment as part of an ener-
gy bill last year, but it was
removed in negotiations with
the House on the bill. ' '


US mortgage rates




hit four-year high


A bank and trust company is accepting applications for a Compliance
Officer.

Knowledge/Skill Requirements

* Extensive working knowledge of compliance policies and internal
control procedures.
* Detailed understanding of Bahamian financial legislation.
* Minimum 3 years supervisory experience in compliance and/or

Operations.

* Bachelors Degree with a concentration in Finance, Economics
Accounting or Law.
* Certified compliance, audit or internal control credentials or BACO
membership would be a plus.
* Superior analysis, communication (oral and written) and project
management skills.
* Extensive working knowledge or PC applications.

Duties

* Developing / ensuring that an adequate AML/CFT and compliance
programs exists which suitably cover the risks associated with all
business activities, products and processes.
* Administering the compliance program through the dissemination
of any relevant training programs or materials aimed at improving
the Bank and Trust Company's compliance culture and adherence
to regulatory requirements.
* Developing procedures for, and periodically executing, independent
in-depth testing of the effectiveness of business' compliance with
applicable local laws, regulations and policies.
* To ensure compliance with relevant legislation, group internal
policies and procedures.
* Staff training.
* Play an active role in monitoring, containing and eradicating
reported and emerging control issues as well as the status of
corrective action plans and escalating any slippages to senior
management.
* Verifying that operational procedures and internal controls exist
for every product and service provided by the organization,
commensurate with level of inherent risk through periodic
independent testing.
* Reporting to Senior Management on the adequacy and efficacy of
the system of internal control (accounting, operating and
administrative).
Please fax your CV along with references to the attention of:

Chief Operating Officer
Fax: 242-325-6765


BFinancial Advisors Ltd.

Pricing Information As Of:
18 May 2006
BISX LISTEb & TRADED SECURITIES - VISIT WWW.BISXBAHAMAS.COM FOR MORE DATA t.. F 1 ,.AtpN. . .p
BISX ALL SHARE INDEX: CLOSE 1.483.90 / CHG 00.00 / CHG 00.00 / YTD 133.19 *YTD % .I. :
2.1,k-H- 5,.P,-Lo. S,rr.,..:i Pre'irou Cl.o:,. T :,a~.0' Cloh.e Gnange OD .I, '.Dol EPS $ Div 5 P/E Yield
0.95 0.053 ,-rt.ac,.o Market .- 0.77 0u67". 0 1C 23,36 -0.019 0000 NIM 0 00
11.00 8.50 Bahamas Property Fund 11.00 11.00 0.00 1,568 0.360 7.0 3.27%
7.24 6.32 Bank of Bahamas 7.10 7.10 0.00 0.738 0.330 9.6 4.65%
0.85 0.70 Benchmark 0.71 0.71 0.00 0.183 0.020 3.9 2.82%
1.80 1.26 Bahamas Waste 1.29 1.29 0.00 0.110 0.060 11.7 4.65%
1.25 1.05 Fidelity Bank 1.25 1.25 0.00 0.175 0.050 7.1 4.00%
9.60 8.00 Cable Bahamas 9.35 9.35 0.00 0.618 0.240 15.1 2.57%
2.20 1.39 Colina Holdings 1.67 1.67 0.00 -0.067 0.000 NM 0.00%
10.60 8.49 Commonwealth Bank 10.60 10.60 0.00 0.931 0.560 11.4 5.28%
6.21 4.12 Consolidated Water BDRs 5.65 5.60 -0.05 0.115 0.045 49.1 0.80%
2.88 1.64 Doctor's Hospital 2.70 2.70 0.00 0.437 0.000 6.1 0.00%
6.21 4.02 Famguard 6.21 6.21 0.00 950 0.539 0.240 11.5 3.86%
11.25 10A45 Finco 11.25 11.25 0.00 0.738 0.540 15.2 4.80%
12.22 8.46 FirstCaribbean 12.22 12.22 0.00 0.874 0.500 14.0 4.09%
10.50 . 8.35 Focol 10.50 10.50 0.00 0.833 0.500 12.6 4.76%
1.27 1.04 Freeport Concrete 1.04 1.04 0.00 -0.162 0.000 N/M 0.00%
10.20 9.50 ICD Utilities 9.50 9.50 0.00 0.526 0.405 18.1 4.26%
9.10 8.22 J. S. Johnson 9.10 .9.10 0.00 0.572 0.560 15.9 6.15%
7 98 , jO Crz.-r i .]rrnal.,r.ail BDR , 7 _ 7 v-I -' 1 AC 160 0000 49 7 000
10 0r, 10 00 Pr.mrn.-r Reai Es.lare 10r00 1100 '3I0':' 20316 0.585 49 585.
Fideltty Over-The-Counter Secunles .. i - ''- . t."''i i
52,.k-H. 52�vK-Lo.5, ambori Bid i-',zl" . ; LaCI Price .'eekl . o.ii EPS $ S $Di PIE Yield
14.00 12.25 Bahamas Supermarkets 14.00 15.00 11.00 1.997 0.720 7.2 4.80%
10.14 10.00 Caribbean Crossings (Pref) 10.00 10.35 10.00 0.000 0.800 NM 7.8QV%
054 020 RND Holdings 0.29 0.54 0.00 -0.084 0.000 NM 01.0 0
Collna Over-The-Counter Securities . . _:" .
4a3 0a 28 00 .BD.B6 41 0,r -4300 ,a00 :1 C220 0000 194 000%
16.00 13.00 Bahamas Supermarkets 14.00 15.00 12.50 1.750 0.360 8.0 2.571o
r0 C0 0 35 RND Hoildnqs ... . 0 5,4 035 .-0 070 0 000 NIM 000'"O
BISX Listed Mutual Funds - - K1 *W. 1.4
.i.-P.*. Hi ,--I - '.-L. L Funa INarre.. NA. . .YLTD . Last 12 MoNr.hs O1. , iYield
1.2867 1.2307 Colina Money Market Fund 1.286664*
2.7451 2.3329 Fidelity Bahamas G & I Fund 2.7451 .
2.3560 2.2072 Colina MSI Preferred Fund 2.329423**
1 1643 1 1006 Colina Bond Fund I 164331****
P1NOEX. CLOSE 60427 1 YtP'i.5A% 2 26.00%,,':;:,.{':L..
Er - I.L Z."AE -I,'IE r.. i C : .:-,,- r = I ...r . , PI.ET TEAPI.S 11ELL'*-. ' ip 1 c F.r.Ir. o' r.aI e.laedb, ,1,K.-. priEceY
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. - 05 May 2006
Previous Close - Previous day's weighted price for daily volume Last Price' - Last traded oyer-the-counter price
Today's Close - Current day's weighted price for daily volume Weekly Vol. - Trading volume of the prior wepk - 01 May 2006 '
Change - Change in closing price from day to day EPS $ - A company's reported earnings p6r share for the last 12 mths
Daily Vol. - Number of total shares traded today NAV Net Asset alue *- 30 April 2006
DIV $ - Dividends per share paid In the last 12 months N/M - Not Meaningful , '
PE :. : ..1 3 trr,u. - : .l I Z . .r FN x Tr.a Fo,191- E-1, Ird .Ja-ar, 1 1994= 100 ... 31 March 2006
TO TRADE CALL COUNA 242-502-7016j1 P fFl.JTY 242-36M-77"4-) PfR IvtQ ..







MAY 19, 2006


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

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