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:
2008
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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This item has the following downloads:


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DAY, JANUARY 31, 2008
Tae
IN TODAY’S TRIBUNE





PRICE — 75¢ [7







Housing programme stopped

Millions owed to and by
Mortgage Corporation
forces government.to act

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



THE government has been
forced to halt its housing devel-
opment programme due to out-
standing million-dollar debts
owed to and by the Bahamas
Mortgage Corporation which
have, in part, resulted from the
PLP administration’s “aggres-.
sive” -buiiding policy,.Minister
of Housing Kenneth Russell
told parliament yesterday.

Speaking during the House
of Assembly’s morning session,
Mr Russell said that the

. Bahamas Mortgage Corpora- Department of Housing. In
tion still owes the National June 2002, he said, the Bahamas
Insurance Board $7 million for Mortgage Corporation had a,
an unsecured loan obtained in cash flow of $6.7 million.

February 2007, and is itself
owed $9.5 million by the SEE page 10

Industrial unrest
brewing at COB

@ By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

Kenneth Russell

INDUSTRIAL unrest is brewing at the College of the Bahamas it
emerged yesterday, with the union which represents its teachers con-
cerned about an alleged prolonged lack of a promotional exercise,
mistreatment of research faculty and unfair dismissals.

In a press release issued yesterday, the Union of Tertiary Educators
of the Bahamas charged that the management of the college may be “so
caught up in the drive for university status that (it) forgets that the fac-
ulty and staff are the foundation of the institution.”

The union alleged that college faculty in various sections are suf-
fering.

Calling on government to investigate its members’ grievances, the
President and management at the college was slammed by UTEB for

SEE page 14

anne





Tim Clarke/T ribune staff

Opposition hits out in House over
discontinuation of tax exemption

lâ„¢ By PAUL G TURNQUEST
Tribune Staff Reporter
pturnquest@tribunemedia.net

THE DEBATE raged on in
the House of Assembly yester-
day on the discontinuation of
the tax exemption for residen-
tial homes, with the Opposition
charging govérnment with being
insensitive to the needs of the
public by not extending the
exemption, which expired in
December, 2007.

Tabling a residential con-
struction permit document out-
lining the number of homes
built since 1993 to 2006, Prime

Minister Hubert Ingraham
explained that the tax exemp-
tion law had not been taken
away — but rather it simply
expired.

Citing the document, Mr
Ingraham showed that the
growth of home construction
rose steadily from 1993 to 2006.

As the tax exemption was in
place for the final years of the
document, the graph suggests
that the exemption effectively
had little affect on new home
construction.

Former Prime Minister Perry

SEE page 10

Nassau drugs comment on US

travel blog gets mixed reaction



National forensic
lab and formal
plea-bargaining
‘are needed to
enhance the

justice system’

@ By BRENT DEAN
Tribune Staff Reporter
bdean@tribunemedia.net

THE CREATION of a nation-
al police forensic laboratory able
to perform DNA analysis, and a
formal plea-bargaining system,
are both needed to enhance the
Bahamas’ system of justice, said
the officer in charge of police
prosecutions.

Chief Superintendent Keith
Bell outlined the challenges faced
in the justice system yesterday
when speaking at the Lunch and
Litigation forum hosted by Law
Library Branch of the College of
the Bahamas.

“The Bahamas still (doesn’t)
have the capacity or the capabili-
ty to do DNA analysis,” he said.
“It means that we have to send
these cases abroad. In addition
to the cost, it also takes consider-
able time. And there are many
cases unfortunately that are
before the court that we have yet
to have the forensics done.”

SEE page 12

The Daniel
Smith inquest
‘will conclude

in March’

@ By NATARIO McKENZIE

THE much prolonged Daniel
Smith inquest will conclude in
March regardless of which of the
remaining witnesses fail to appear
Magistrate William Campbell
stated yesterday.

The inquest, which has faced
numerous delays particularly due
to several witnesses, will resume
and conclude in March, Magis-
trate Campbell stated, noting that
he does not intend to have the
matter prolonged any longer.

The prosecution intends to call

@ By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

in the dailies.

The author of the article describes how, despite
the fact his travels have taken him to numerous
“shady” and “seedy” places, he had “never been
approached on the street in the middle of the day
and offered drugs. Until (he) visited the Bahamas.”

“There, strolling through the streets of down-
town Nassau, near where the unbelievably massive
cruise ships dock (including Disney cruises), a guy
called out to tourists who passed close by, ‘Coke or
heroin, free samples’,” he said.

SEE page 12

Larry Birkhead and Jack Hard-
ing, a California based private
investigator, as well as Howard
Stern. Neither Birkhead nor
Harding were able to appear at
the inquest this week, according
to Director of Public Prosecutions
Bernard Turner yesterday. Mr
Turner also indicated that the
prosecution has not been able to
determine the whereabouts of the

SEE page 14

Le

A US travel blog in which a writer described how
he was shocked to find himself offered “free sam-
ples” of cocaine and heroine on the streets of down-
town Nassau has drawn mixed online reactions from
Bahamians and other visitors to the site.

The blogged story written by Chris Baldwin, fea-
tures on the website Travelgolf.com. On Tuesday it
received much attention because of its content,
appearing as a story on the ZNS national news, and



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PAGE 2, THURSDAY, JANUARY 31, 2008 . THE TRIBUNE

a VO SAE
, Tomatoes

thrive thanks
to pot luck

IT IS truly amazing
what a bit of individual
attention can do.

This week, Nassau resi-

2bed/2. Sbth: Price: $550,0 000 “ ‘i | dent Linda Turtle shared



DICKS POINT TOWNHOUSE

1,720 SF oceanfront townhouse with private dock to a a a epee ad oun
accommodate yachts up to 55 feet. Residence located in we i: = . u effort to grow tomatoes.
an exclusive gated community with 24 hour security, F aw | a Cal nd It is just one of the
tennis courts, a swimming pool and more. Features i ES oe ’ ene many crops she regularly
include superb views of Montague Bay, 10 ft. ceilings, \ 7 if tends in her backyard gar-

spacious rooms, large master suite, walk-in closets, den — but this year, a dif-
ferent method was tried.

recessed lighting, 2-zone central a/c, washer/dryer, large ay ’ 2 pee ae :
balcony, two parking spaces, standby generator and | .| 7 % : ea eer aaa
outdoor lighting. Offered ee we Yi‘ ’ believe what a difference
\ Te i | ] a it made,” she explained.
At the top of the pile
pictured here is a typical

Stuart Halbert | Tel: 242.396.0034 ir Cel: 242.477.7908 | x i (|| tomato bought from a

Eml: stuart@bahamasrealty.bs . \ “8 local foodstore. Surround-
ing it are the results of
Linda’s efforts.



Family's
urgent call
for missing
Freckles’

A DISTRAUGHT family
has put out an urgent call for
information on the where-
abouts of their lost dog.

Freckles, a female Jack
Russell terrier has been
missing since Wednesday,
January 23.

She disappeared from Cor-
tie Acres on Adelaide Road.
The owners say the dog
should have a red collar and

blue name tag.

She is mostly white with a
half-brown face and some
small spots on her back.

Anyone with information
on the whereabouts of
Freckles is asked to call 362-
1363.

A reward is being offered.



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THE TRIBUNE

LOCAL NEWS

THURSDAY, JANUARY 31, 2008, PAGE 3



0 In brief

Leslie Miller on
PLP challenge
to Blue Hills
election results

LESLIE Miller said yes-
terday that he “has no prob-
lem” with the PLP challeng-
ing the election results in
the Blue Hills constituency
so long as he does not have
to foot the bill.

“T have no problem with
the PLP taking my case to
court on behalf of the good
people of Blue Hills provid-
ing there’s no bill sent to
Leslie Miller,” he said.

He added: “I made that
clear, and the preamble was
that I don’t see why a per-
son should be charged.

“In fact that should be in
the purview of the police
and the courts to see to it
that elections are run fairly
and squarely and that per-
sons should not vote in cer-
tain areas and if persons are
found to have voted in those
areas they should be
charged in the courts of the
Bahamas.”

Mr Miller said that the
challenge of three seats
brought by the PLP was
based on merit, adding that
this was proved by the rul- .
ing in the Pinewood case,
where judges determined
just over a week ago that
110 people voted unlawful-
ly.

Mr Miller maintains, how-
ever, that elections are
“won and lost” at the polls
on election day.



UTM CMT

Pinewood residents get police
tips on property protection

RESIDENTS of Pinewood
were given advice on how to pro-
tect their property from burglary,
thanks to a two page leaflet cir-
culated by officers of the South-
eastern police division.

Following Saturday morning’s
brutal double murder of a couple
in a Pinewood Gardens home
located on Sequoia Street, offi-
cers hit the beat on Monday in
an effort to reassure locals and

inform them of how to lessen the -

likelihood of their homes being
targeted by criminals — and how
to reduce the risk to themselves.

“The following burglary pre-
vention tips will help to make
you and your family safer while
also showing you how to become

- a part of the Southeastern Divi-

sion Crime Watch team — so that
we may better serve and protect
our community, together,” said

‘the leaflet.

According to police, remem-
bering the “Three Ls” of crime
prevention is fundamental: lights,
locks and the law.

“Light up your residence, lock
your doors at all time, and call
the law (police) when you see
something suspicious,” residents
were advised,

Noting tell-tale signs that may
cause a potential robber to con-
clude that a resident is not at
home, the leaflet suggests that
homeowners should “leave lights
on when (they) go out. If you
are going to be away fora length



Ce eS



THE PLP came under
fire yesterday for “tying
up” court time with elec-
tion challenges when
judges were needed to
handle a huge case back-
log.

The party’s Marco City
election.couft case was
described as “a selfish
waste of time” by one
of several readers who
called The Tribune to
complain.

“How can the PLP go
ahead with this ridiculous
challenge when they know
the courts are choked
with criminal cases
that need urgent atten-
tion?

“Tt is typical that they
see their own petty politi-
cal interests as more
important than the wel-
fare of the nation.”

Voters

Deposed. MP Pleasant
Bridgewater is chalieng-
ing the FNM’s Zhivargo
Laing’s right to the Marco
City seat, claiming many
voters at last May’s gen-
eral election were not
qualified to cast ballots in
that constituency. .

The challenge could
occupy two judges for up
to ten weeks at a time
when the courts are in
chaos because of a huge
backlog.

One reader, who didn’t
wish to be named, said: “I
understand at least one
judge is coming up for
retirement.

“This will cause yet
more problems for the
court system, which
is overloaded with
unresolved criminal mat-
ters.

“Yet here we have a
political party prepared to
fie up the courts for two
whole months presumably
so that its leader can.
stave off the inevitable
day when he will have to
quit.

“Ti’s disgraceful.”

The PLP has already
lost its challenge in
Pinewood, where ex-min-
ister Allyson Maynard-
Gibson was defeated by
49 votes by the FNM’s
Byran Woodside.

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for example — could divert
unwanted attention from your
home, it was suggested.

Residents are advised to check
all locks on their doors and win-
dows for their security, and
upgrade them if necessary.

Key-in deadbolt locks, the
leaflet warns, “provide minimal
security”, while it is advised that
additional safety can be ensured
by “pinning windows.”

“Drill a 3/16” hole on a slight
downward slant through the
inside window frame and
halfway into the outside frame
— place a nail in the hole to
secure the window,” it explained.

Robbers normally have to
believe that there is something
valuable inside for them to go to
the effort of trying to get it.
Police encourage residents to
install curtains on lower windows
to hide whatever is within, and



bicycles, barbecues and
NS lawn mowers are stored out of
ere sight.
POLICE gave out leaflets in the :

Adequate outside lighting and
trimmed trees and shrubs will
minimise outside hiding places,
police noted in the advisory.

Meanwhile, should residents
return home to find their home
broken into despite their efforts,
or notice an “unexplained
open/broken window or door”
they are advised not to enter — in
case the perpetrator is still inside.

It is also important not to

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of time, connect some lamps to
automatic timers to turn them
on in the evening and off during
the day.”

Additionally, making sure you
arrange to have your lawn
mowed if you are to be away
from home “for an extended
period of time” — on vacation,





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ensure that outside valuables like:

clean up any resulting mess until
police can attend the scene, as
evidence of the crime may be
disturbed, and to take down the
licence plate numbers of
any “suspicious” vehicles, said
police.

The leaflet highly recommends
a home alarm system for those
who can afford it, and encour
ages residents to be “good neigh
bours”, calling 911 if they see
suspicious activity in their neigh
bourhood.

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PAGE.4, THURSDAY, JANUARY 31, 2008

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE



The Tribune Limited

NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI
Being Bound to Swear to The Dogmas of No Master

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

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

(Hon.) 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, PO. 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 couple that didn’t find a bargain

THE BAHAMAS got a much needed
tourism boost when the February edition of
Travel and Leisure, a prominent US trav-
el magazine, listed it as one of the “best
places to stretch a weak dollar.”

During this period of economic uncer-
tainty, the Bahamas was one of 10 desti-
nations listed by the magazine as a location
where a vacation could be enjoyed without
breaking the bank. The advantage that the
Bahamas has over the other nine locations
listed — among them Eastern Europe,
Hong Kong, New Zealand, and Vietnam —
is its geographic location — right at Amer-
ica’s back door.

“Their dollar is pegged to our dollar,
and in some spots you can even use green-
backs. To keep your bottom line really
steady, stay at an all-inclusive resort, where
you’ll prepay for meals and even some
drinks,” said the magazine, adding that
these islands are still the place that holiday
“bargains” can be found.

The magazine recommended Our
Lucaya in Grand Bahama as a good choice
for thrifty Americans.

“If you want extra value (and more all
inclusive options), stay on the Sheraton
side, where all-inclusive nightly rates start
at $295 per couple,” said the magazine.

However, this was not true for one
unfortunate American couple who found
no bargains here.

Last week we were waiting to go
through the security line at the airport on
our way to Jacksonville when we noticed a
very upset young couple behind us. The
woman was pregnant. Her husband was
muttering something about this country
and never returning. She was trying to
silence him, saying that no one else was
interested and he should keep their prob-
lems to himself.

However, we were very interested in
what we thought he was saying and so we
asked how he enjoyed his visit to Nassau.
This opened the door to a tirade about ser-
vice, prices and noise.

Apparently, every year they visit St
Barts in the Caribbean. They had heard
so much about the Bahamas that they
decided to change their routine and give
Nassau a try. But never, never again — as



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far as they were concerned. From that
moment on, the Bahamas would be
scrubbed from their map.

They had made the mistake of checking
into a Cable Beach hotel, which is now
undergoing considerable construction.
They were looking for peace and quiet and
hours of relaxation. This they didn’t get. As
soon as the early morning construction
crew reported for work, they were wak-
ened by drilling, hammering and the gen-
eral noise made when a building is under
construction.

They would then come downstairs for a
simple breakfast of coffee and a sandwich
for which, the husband said, they were
charged a “scandalous price.” As for ser-
vice — well as far as they were concerned,
it was just off the board, it didn’t exist.

The husband was angry. The poor wife,
heavy with child, was wilting. She was worn
out, and looked as though she needed a
good, long holiday.

All she said was: “Never again! Next
year we will go back to St Barts where we
can find peace and quiet and get a real
holiday.”

The other tourists in the line listened
with interest, some nodding their heads in
sympathy, others in apparent agreement.

The boost given this country by Travel
and Leisure will not help if on the ground
visitors do not find what the magazine has
promised.

Now that some of the airlines are drop-
ping their fares to attract visitors, hoteliers
will have to do their part in repackaging
their product. There are even some five
star restaurants that will have to send a
“product taster” in to check on their ser-
vice, which in some places is slipping. Even
visitors who can afford it want the stan-
dards for which they are being charged.

Tourism director general Vernice
Walkine has recommended that the
Bahamas repackage itself at a lower price
level if it wants to remain an affordable
vacation destination for Americans who
are affected by the softening of the US
economy. Her recommendations should
be taken seriously by those in the industry.
Remember the Bahamas now has serious
competition. It is no longer Numero Uno.















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or Aboce Motor Mall, Don MacKay Blvd, 367-2916

FNM has
dashed hopes
of potential
homebuyers

EDITOR, The Tribune.

WE say it all the time: “If
America sneezes the Bahamas
catches the cold.” The implica-
tion being, that when Ameri-
ca’s economy turns sour, so will
ours. It should be reasonable
then, for us to expect our Gov-
ernment to mimic the United
States and follow their lead in
employing some, if not all, of
the measures they employ in an
effort to stem the impending,
economic erosion.

Given all of the above, why is
it then that Ingraham and Laing

’ have taken the decision to with-

draw the stamp tax exemptions
for first time Bahamian home
buyers, effective January 1, 2008
when at the same time the Bush

Administration in America is.
. proposing, right now, to give

American home buyers and all
other Americans some $150 bil-
lion in tax cuts exemption; all
this in an effort. to head off a
possible recession, which is
exactly what we should be
doing. I don’t know about other
parts of the Bahamas, but
Grand Bahama’s economy is in
shambles, and that’s putting it
mildly. It is heartless; to say the
least, that Laing and Ingraham
could sit in their offices with a
smile on their faces, while mak-
ing this terrible announcement.
This clearly shows, very vividly,
the distinction between the PLP
and the FNM. Bahamians
enjoyed five years, under the
PLP, where every first time
homebuyer received the stamp
tax exemption, for homes cost-
ing up to a value of $250,000.
The difference between the
PLP and the FNM is further
seen in the fact that the PLP

‘ promised that if it were

returned to office, they pledged
to increase that exemption to
homes and condos. Up to a val-
ue of $400,000. This meant a
savings to first time home and
condo buyers of around $25-
$30,000. The FNM has now can-
celled the exemption, and it is
clear now for all to see which is
the caring government

The FNM has, effectively,
destroyed the hopes and dreams
of hundreds of young and older
Bahamian potential homebuy-
ers. You should note that these
exemptions, heretofore, had no
affect on homes which were
purchased by people who were
not first time buyers, like me

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and Hubert Ingraham; nonethe-
less, it brought relief to thou-
sands of others; but Laing and
Ingraham said, no more free-
bees.

The adverse effect of this

decision doesn’t rest only on the.

homebuyer, but it also creates
economic hardship for small
contractors and small sub-divi-
sion developers.

This, am sure, is one of the
reasons why Mr Michael
Edwards, who is a developer of
a small sub-division, has spo-

ken out in the Freeport News -

on Wednesday, January 23rd,
calling on Laing and Ingraham
to reconsider their decision; of
course Mr Edwards knows that

that will only happen if hell

freezes Over. © --

The net effect will be a slow-
down in home buying; result-
ing in a slowdown in construc-
tion; resulting in sub-contrac-
tor layoffs; resulting in con-
struction workers being laid off;
resulting in further erosion of
the economy; and they Say
Laing is an Economist.

The average couple making
arrangements to buy a house
after January 1, 2008 should be
aware that there is, now, no
more exemption.

The 2 per cent or 4 per cent
or 6 per cent or 10 per cent
depending on: the value of the
house being purchased, will be
due and payable at the time of

purchase, thanks to your FNM
Government.

The FNM is treating you in
the same shabby way with
health care.

This was the month (Janu-
ary) that Dr Nottage promised
you that National Health Care
would have gone into effect,
had we voted the PLP into

“ office, but we didn’t vote the

PLP in office and so your
National Health Care went out
with the PLP.

You will recall that Ingraham
cast a single vote, on behalf of
him and his colleagues, for
National Health Care, but we
knew, at the time, that he did
that for one reason only, so that
no one could accuse him later of
voting against a measure, which
helps the péorest Bahamians.
As far as implementation, how-
ever, he will never do it, why?
Because his money backers
don’t want it and it is them who
pull his strings.
~ Michael Edwards has legiti-
mate concerns, which are bound
to impact the further develop-
ment of his sub-division.

This shouldn’t be Mr |
Edwards’ concerns only, but
ours also, for a slow down in
construction will affect the
entire economy.

What is so baffling is that
Laing and Ingraham seem to
take pleasure in making that
asinine, counter-productive,
decision. Those are my views.

FORRESTER J CARROLL
Freeport,

Grand Bahama,
January 24, 2008.

‘What happened to the

Public Disclosure Act?

EDITOR, The Tribune.

HAS the Public Disclosure Act been repealed and we have not

been advised?

Yes, we saw the financial disclosures of the election candidates,
however, isn’t it required of all MPs and Senators to make a full
financial disclosure every year and the disclosure is required to be

Gazetted (published)?

Hoping the chair of the Disclosure Commission will immediately
cause this to happen. It should be recalled this was not done

between 2002-2007!

CYNTHIA MOSS
Nassau,
January 19, 2008.

aire Witlgss
tal Pd FritterSar





THE TRIBUNE




Dy

‘The economy will g







yoo yea 2

et worse befo

$,LNiad Pi

re it gets better’

@ By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

BAHAMIANS are caught in the
grip of uncertainty regarding the
nation’s economic future and need the
government to explain its plan to deal
with the looming downturn, MP for
West End and Bimini Obie Wilch-
combe said yesterday.

“The economy of the Bahamas will
get worse before it gets better.

“We cannot sit idly by and wait and
see what happens in the US and blame

the economic fallout on our neigh-
bours”.

“Parliament must be told by the gov-
ernment what it intends to do to pro-
tect the economy.

“The government must come to the
country and explain just what it intends
to do as uncertainty grips the people,”
Mr Wilchcombe told parliament.

He was speaking during the debate
ona Bill for an Act to Amend the Cen-
tral Bank of the Bahamas and an
Amendment to the Banks and ‘Trust
Companies Regulations Act.

He said the government has failed to
reveal how the proposed amendment

will “help to boost the economy and
head off an economic meltdown over
the next several months”.

He noted that whilst a sluggish US
economy would lead to a “rippling
effect” on the nation, there are things
the country can do to “keep the econ-
omy afloat, save jobs and prepare for
the future.”

The challenge must be met by pro-
viding new jobs and opportunities for
the thousands of students graduating
annually along with those already on
the unemployment line.

An expansion of the financial ser-
vices sector in Grand Bahama also can

breathe new life into the island’s strug-
gling economy, he noted.

He criticised government for promis-
ing to bring “immediate relief” to
Grand Bahama’s economy upon enter-
ing office last May while they have yet
to reveal an “economic recovery plan”
for the second city.

“The FNM promised to bring imme-
diate relief to the economy of Grand
Bahama.

“When will the FNM economic
recovery plan for Grand Bahama be
crafted and revealed?

“The economy of Grand Bahama is
not showing signs of immediate recov-

THURSDAY, JANUARY 31, 2008, PAGE 5






ery. And in spite of (that) dire situa-
tion, the FNM government has now
decided to terminate some 40 Bahami-
ans from the urban renewal pro-
gramme (which) is nothing more than
‘political termination’.”

The former minister of tourism
claimed that while these 40 persons
were receiving their “pink slips” of ter-
mination, the ministry responsible was
employing FNM supporters to urban
renewal centres to take jobs that are to
end in June.

This fact is unacceptable in a modern
democracy, said Mr Wilchcombe.

MP SPEAKS OUT IN WAKE OF PINEWOOD ELECTION COURT CASE

ahamian electoral process needs
thorough review, says Wilchcombe

& By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

OBIE Wilchcombe has called
for a thorough review of the
Bahamian electoral process fol-
lowing the flaws in the system
which were revealed during the
Pinewood election court case.

Speaking in the House of -

Assembly yesterday, the West
End and Bimini MP questioned
why the government would be
“afraid” to call for “an inde-
pendent audit of and a thor-
ough review of the election pro-
ceedings.

“I urge the prime minister
and the government not to
ignore or dismiss out of hand
the recommendations made by
the justices of the Election
Court. Our courts serve a pur-
pose,” hy said.

“The prime minister and the
government should use the
oppor-unity to advance our
electoral process even further,”
said the ex-minister.

Mr Wilchcombe also noted



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that it has been more than 10
years since the last review of
the electoral process, which
resulted in the use of indelible
ink.

Parliamentary constituencies
should not be reconfigured

-within a 10-year period, as

boundary changes should for
the most part be predicated on
population growth, Mr Wilch-



combe added. He congratulated
MP for Pinewood Byran Wood-
side on being named the duly-
elected MP for the constituency
and praised defeated PLP
Allyson Maynard-Gibson for
exercising “her constitutional
right” in challenging the mat-
ter in court.

Following the Pinewood rul-
ing, the justices presiding over

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the case criticised the Parlia-
mentary Commission for fail-
ing to ensure the integrity of
the registration process in the
constituency.

' “This case exposed the most
egregious failures in the parlia-
mentary system,” said the jus-
tices on January 22.

Bishop Simeon Hall and
Stone McEwan, a secret ballot
campaigner, have also publicly
expressed the need for an inves-
tigation into the election
process.

The court threw a record 110
votes out ‘of the Pinewood
count.

These votes were cast by peo-
ple who the court determined
were not ordinary residents of
the constituency.

A recount revealed that Min-
ister of State for Youth and
Sports Byran Woodside won his
seat by 49 votes.

However, after the May 2
general election, Mr Woodside
was said to have won by 64
votes.

The PLP has two more elec-
tion court cases pending, with
Marco City scheduled for open-
ing arguments on February 18 .
and the Baillou Hills case slated &,
for April.



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PAGE 6, THURSDAY, JANUARY 31, 2008



LOCAL NEWS

Fathers rights activist

demanding explanation E
on Child Protection Act |

@ By BRENT DEAN
Tribune Staff Reporter
bdean@tribunemedia.net








FATHERS Rights Activist
Clever Duncombe is
demanding a more detailed
explanation from Minister of
State for Social Develop-
ment Loretta Butler-Turner
as to when the Child Protec-
tion Act will be made law.

Otherwise, said Mr Dun-
combe in an interview with
The Tribune yesterday, he
intends to launch a campaign
to agitate for her resignation.

The Act was passed more
that 14 months ago by the
previous parliament before
it was signed by the gover-





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nor-general. However, it was
not made law by the previ-
ous PLP government before
they were voted out of
office, and the FNM has not
yet brought it into force in
its eight months in power.

Why the Act has not yet
been made law, became the
source of heated debate
between Mrs Butler-Turner
and the former minister of
social services Melanie Grif-
fin last Wednesday in the
House of Assembly.

In response to a question
tabled weeks ago by Mrs
Griffin on the status of the
piece of legislation, Mrs But-
ler-Turner said the govern-
ment does intend to make

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the Child Protection Act law,
“on a date to be determined.”
She went no further in pro-

, viding a timeline for when

this will occur, but she did
criticise the former PLP gov-
ernment for not providing
the necessary regulations

needed to make the Act law. :
Mrs Griffin disputed the ;
necessity for such regula- ;

tions.

dren and the
fathers.

“And it’s discouraging, be Te
: PEANUTS TAYLOR with Spats, a 12-year-old male Wolfhound mix
: found on the Sandyport Bridge as a three week old puppy and

to find out that we have to : Chief, an 18-month-old male Potcake, found as a small puppy,

now experience another hur- ger a bush on Blake Road, with his three litter mates (all four
: found good homes.) Spats and Chief were both rescued and have

punishment for those who : made loyal and much loved family pets.

abuse children, and those }
who are aware of such:
crimes but do not report :
them, the legislation will also :
give the right of access to :
fathers of children born out :

when we believe that help
and hope is on the way, only

dle,” said Mr Duncombe.
Along with stiffening the

of wedlock.

Currently, these fathers :
have financial duties and :
responsibilities in regard to :
their children, but no right :

of access. In disputes, the } SAciety asa wee rach
courts determine visitation : P 7. los has oledesa hi
rights between the parents, } See a cnet oreo
but the mother is the custo- : PPS ead :
: responsible animal ownership

Another innovation of the pau eel by “drumming
Act is that the age of crimi- : Be
ee man a : in the Bahamian music world,
: ; : famous for his amazing ability
Mrs Butler-Turner was out | t0,communicate his artistic
of office when The Tribune | SP peep he wemune et
Atediated tg. reaeho her for. drums and he is about to share
‘ P : his passionate care for animals

Mr Duncombe told The } eee a Sa medium,”
Tribune that his campaign to } oe eee Soci-
have this measure made law i y :

dian.

10 years old.

comment.

is not political.

said.





SG
Private Banking
as ae

Mr Duncombe said yester- :
day in an interview with The :
Tribune that “successive :
administrations” have not :
been serious enough in the :
protection of Bahamian chil- :
rights of }

THE TRIBUNE







Peanuts drums
for the dogs

THE Bahamas Humane

“Peanuts is an iconic figure

Stephen Turnquest, the soci-

Both governments, and | ety s director of operations,
a : : said “Peanuts Taylor, as well
both ministers responsible — : Ae Heine a. well lio wah enter
Mrs Butler-Turner and Mrs : °°. 8
+ eee . 4 : tainer, is a thoughtful and con-
Griffin — have been negligent : * :
: : : ite ; siderate man and his compas-
in ensuring that the legisla- : ©.
Saas = . : : sion sets a perfect example for
tion is brought into force, he : : Z
5 : Bahamians who own animals.

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Peanuts as a member of our
team and we are looking for-
ward to appearances which he
will make for the BHS through
the coming months”.

Peanuts’ first appearance
drumming for the dogs will be
at 1lam tomorrow in Rawson
Square where Governor Gen-
eral Arthur Hanna, patron of
the Humane Society, will open
the society’s raffle.

The general public is invited
to come and attend the event
and see the legendary Peanuts
Taylor play the drums with
some young drummers.

The raffle is the society’s
biggest fund raising event, on
which they rely for a substan-
tial part of their income.

Peanuts Taylor supported
the raffle last year by buying
tickets and was the lucky win-
ner of British Airways tickets
to London.

He said he is pledging his
support to promote responsi-
ble animal ownership because
“animals are a very important
part of our everyday life.

“Having a pet can complete
a home, and bring the owner
great happiness. It is impor-
tant to encourage and teach
people to treat animals with
kindness and respect. I am
delighted to be able to assist
the Bahamas Humane Society
in getting the message out to
the people of the Bahamas,”
he said.

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THE TRIBUNE THURSDAY, JANUARY 31, 2008, PAGE 7

LOCALNEWS.

Culture Minister stresses importance of.



Claim that stigma.

still surrounds
people with =
lisabilities

m By XAN-XI BETHEL

THERE continues to be a stig-

ma surrounding people with di

abilities in the Bahamas said Sonja :
Rolle, vice principal of the Centre :

for the Deaf.

She said Bahamians are still :
afraid to make an effort to open }
“the avenues of communication” :
and include all members of soci- :

foreign country, they

in order to move forward with :
change in the struggle to deal with :
disability in our society,” she said. :

Ms Rolle said that discrimina- :
tion against those with disabilities :
extends to the working world. Few :
employers are willing to hire deaf :
people for fear that they will not be :
able to communicate, thus making :
the person a liability rather than }

ety.
“We must re-tool and re-train

an asset, she said.

However, Ms Rolle said this :
assumption is simply mistaken: deaf :
people are capable of performing at :
a high level in a number of jobs,
and the community should make :

an effort to accommodate them.

Thus far, few students from the }
Centre for the Deaf have gone on }
to pursue a tertiary level educa- :
tion. The ones that have report :
extreme difficulty in getting a job :
even after earning a degree, Ms }

Rolle said.

She said one student went to }
school in the United States and } said at
received an associates degree in i Toyrism Week Tourism
computer graphics. Now, back at } T M tne T ao
home, she struggles to find a job : hie Pern Ob onery
in her field of interest. As a result, 28. “It has to be more than
she and others end up depending
on family members and working :
menial jobs in order to support :
I ; : Bahamas has a rich history
_ Ms Rolle said there are some ; which is intertwined with
signs of change, as the government :
has begun to hire people with dis- :
abilities, and has been joined by :
one or two other business owners :
“who realise that these people are :
capable of doing the job efficient- :

themselves.

ly”.

integral part of the school system.

She also said thateall teachers :
should be equipped with the skills
to communicate with all students, :

regardless of whether or not they ; 7
: pendence.

have a disability.

In addition, Ms Rolle expressed :
concern about the television news ;
not being interpreted for the deaf. -:
She said deaf people are locked in :
a world of silence and “the country :
is making very little effort toward :

change.”

centre.” said Ms Rolle.

MANUFACTUR



She suggested that sign language :
be offered as a course at the Col- :
lege of the Bahamas and made an :

a uniquely Bahamian tourism product



“When people travel
from far distances, pay
a lot of money to visit a

expect it to be foreign.”



m@ By ERIC ROSE
ALTHOUGH the

Bahamas has “fine” inter-,

national partners and
developers, the public must
understand the important
role Bahamians play in the
development of the coun-
try’s tourism product, Min-

ister of State for Culture.

Charles Maynard said.
“We still have to appre-
ciate what is special about
the Bahamas,” Mr Maynard
the National

the fine hotel properties,
the sun, sand and sea.”
For example, he said, the

that of other countries, par-
ticularly the United States.

Vital

“The Bahamas played a
vital role in their indepen-

“dence,” he pointed out.

“We have places in the
Bahamas still in tact, his-
torical sites that tie direct-
ly to their struggle for inde-

Mr Maynard said these
historical linkages should
be used in selling the
tourism product.

He pointed out that
American tourists would

She also expressed concern for : gladly want to visit such
the shortage of teachers and facili- Ves y :
ties for the disadvantaged in gen- ; built-in market for future
eral. “We got news that the school :
is being moved to make space for :
the new T G Glover primary
school. However, we haven't heard :
anything else from the government :

in regard to a new location for the : we do not realise that that

sites and this could be a

ventures.

“But we let bushes grow
around them and we just
pay no attention because

Charles Maynard

is a diamond-in-the-rough,”
Mr Maynard said.

“We could go on and on
listing the historical things
that are significant to our
neighbours in the north and
we would find that there
are significant sites, places,
traditions, even, that tie
directly to their history and
we are not taking advan-
tage of it.”

Mr Maynard said. the
Bahamas has a unique cul-
ture which must be appre-
ciated and preserved.

“When people travel
from far distances, pay a lot
of money to visit a foreign
country, they expect it to
be foreign,” Mr Maynard
said. “I’m sure they are
happy to see that thére is a
McDonald’s and a Burger
King here, because it some-
thing they can relate to; but
they would be happier to
taste the cracked conch or
the fried fish or the conch
salad or the things that we
enjoy as Bahamians.”

Mr Maynard emphasised
that Bahamian musicians
and artists must be high-
lighted, and local culture in
general must be more
enthusiastically preserved.

“Now we cannot blame
the Ministry of Tourism.
We cannot blame the goy-
ernment. We have to blame
ourselves,” Mr Maynard
said. “We are in the
tourism business. We — not
the government, not the
Ministry of Tourism, but
the Bahamian people
everywhere. It does not
matter where you work, the
fact is that you are a part of
the business: so you have
to play your role in that

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“The real enhancement
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Bahamian society,” Mr
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realise what business we
are in. That is where cul-
ture, heritage and history
comes into our tourism
product.”

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PAGE 8, THURSDAY, JANUARY 31, 2008 THE TRIBUNE

SEA TRAINING EXERCISE





The Royal Bahamas Defence Force’s HMBS
BAHAMAS carried out a training exercise at
sea. It demonstrated how officers could be
deployed into the water without stopping the
boat in order to catch illegal immigrants or poach-
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PAGE 10, THURSDAY, JANUARY 31, 2008 |
Housing programme stopped

FROM page one

“The housing programme has come to a
halt in the face of the financial woes of the
Bahamas Mortgage Corporation and the
Department of Housing,” he said.

The minister said that the former PLP
administration’s “aggressive attempts” to build
houses in 24 subdivisions in New Providence
and in some Family Islands, “as well as on
scattered sites in New Providence,” have
resulted in the availability and readiness of
the houses surpassing the legal requirements
for the Bahamas Mortgage Corporation and
other lending agencies.

Mr Russell explained that funds for the
advancement of government’s housing pro-
gramme traditionally comes from the Bahamas
Mortgage Corporation.

“Before May 2002, the Mortgage Corpora-
tion pursued a policy that would not permit
the development of any land until and unless
that land was vested in the Minister responsi-
ble for Housing, whe would then: lease such
land to'the Bahamas Mortgage Corporation,”
he said.

Mr Russell said that the previous govern-
ment built numerous subdivisions, including
Perpall Tract and Pride Estates, but failed to

vest clear ownership of the land in the Minis-
ter of Housing — therefore preventing the
mortgages to be executed by the Bahamas
Mortgage Corporation. .

As it concerns the subdivisions of Perpall
Tract and Pride Estates II], the minister said,
a total of $2.3 million has so far been spent on
infrastructure and construction without any
returns to the Bahamas Mortgage Corporation
through the payment of mortgage fees.

Without clear ownership of the land, he
said, conveyances cannot be prepared and the
Bahamas Mortgage Corporation cannot recov-

er money spent on the development through i

mortgage payments.

The minister said that the government is
now actively seeking to correct this situation
by providing the Bahamas Mortgage Corpo-
ration with some funds to continue the hous-
ing programme once all other mechanism are
in place,” he said.

Mr Russell was speaking to the tabling’ of
two resolutions which convey 11.8 acres of
land in Perpall Tract and 23.91 acres of land in
the Pride Estates III subdivision to the Min-
ister of Housing.

The resolutions conveying land to the min-
ister and National Insurance will enable mort-
gages to be prepared for all completed hous-
es in the subdivisions, he said.



~~ v
Nassau Airport

Development Company

ANNOUNCES PARKING IMPROVEMENTS

FROM page one

Christie had initiated the stamp
tax exemption during his gov-
ernment’s tenure in government
for first time homeowners
whose homes were valued up
to $250,000.

After the exemption expired
on December 31, 2007, the gov-
ernment came under fire from
realtors, construction workers,
and would-be homeowners for
not extending the tax break.

PLP MP for Fox Hill Fred
Mitchell said that government’s
decision to not extend the law is
“simply wrong” and “muddle-
headed.”

Mr Mitchell said that this
“single act” by the FNM will
now cause many‘would-be
homeowners to have to post-
pone their dreams of owning a
home in the Bahamas as they
now may find it difficult to raise
the extra funds to pay this tax
on their house.

Mr Mitchell said he listened
to government speak about the
Internal Monetary Fund (IMF)
cautioning the Bahamas that it
should not extend the tax
exemption. Not only did Mr
Mitchell question whether the
IMF had actually made such a







THE TRIBUNE

Opposition hits out in the
House over discontinuation
of tax exemption

suggestion, he said it made little
difference if they had as the
Bahamas was not run, or gov-
erned by the IMF.

“I recall a meeting with the
former Prime Minister and MP
for Centreville and Farm Road
had with President (George)
Bush. One of the first things the
US President said to us was how
much he disagreed with the
IMF’s prescriptions on fiscal
prudence — this is the US Pres-
ident talking now.

“Clearly, the exemption
primes the pump and is neces-

sary to keep the economy alive. .

So the decision not to renew it is
clearly muddle-headed, and
wrong,” he said.

Mr Mitchell acknowledged
that the former PLP govern-
ment had only put the exemp-
tion in for five years. However,
he said that an executive deci-
sion by the government could
easily extend it. Also, he added,

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the five-year lifeline for the
exemption was intentionally
done so that if necessary, the
tax break could be reviewed
and adjustments made to fit the
economy.

“When you look, Mr Deputy
Speaker, at all that is being
done overseas, when you look
at the American government to
provide liquidity in the econo-
my, and this government does
nothing.

“No low interest rates, no tax
exemptions, only going over the
books to attempt to rewrite his-
tory. ,

“So, Mr Deputy Speaker, a
housing policy must support the
development of a middle class,
and must provide for the poor
who cannot provide for them-
selves. It must assist with the
support and development. of
family life. Unfortunately that is
not the way it is going on as we
know it,” he said.



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The Nassau Airport Development Company (NAD) is working hard
to improve your overall experience at Lynden Pindling International
Airport. in the area of parking alone, within the last few months we
have fixed the drainage and refurbished, paved and reconfigured the
domestic/ international lot to create increased parking capacity and
improved customer service. Since April parking capacity has been
increased by close to 100 spaces in the domestic lot. Furthermore,
i we have reduced illegal parking and.introduced a new. overflow lot
with shuttle bus service to both the domestic/international and U.S.
terminals. And this is just the beginning! We will continue upgrading
and expanding facilities and looking for new parking services to
help make your airport experience as friendly and convenient as
possible.



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Please note these Important Changes:

4. There will also be a small $1
increase in the maximum daily rate
from $8 to $9 for the regular parking
lots.

4. All parking meters will be
removed. There will be NO
PARKING OR WAITING allowed at
the curbs, only drop-offs or pick-ups.

5. After one day, the same daily rate
structure will apply for all subsequent
days. For example, parking fees for

1 day and 1 hour in the regular lots
would be $12 and fees for 2 days
would be $18.

2. Anew short-term parking lot will
be introduced with low rates (lower
rates than current parking meters)
for the first 2 hours to accommodate
those waiting for arriving
passengers. However, after the

first 2 hours rates will then increase
quickly at $2 every 20 minutes with a
possible daily maximum of $30.

6. Amaximum weekly rate of $45 is
being introduced.

7. The rate in the Overflow lot will
remain at $5 per day or part thereof.
The overflow lot is only opened when

the other lots are full.

3. For both regular lots (domestic/
international and U.S.) the regular
hourly rate after the first hour will
increase from $1 to $3, the same as
the first hour.

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THE TRIBUNE

LOCAL NEWS. ,

National Tourism Conference
to scrutinise the industry

TOURISM leaders and con-
cerned members of the public will
gather today to scrutinise the
tourism industry in a series of meet-
ings and discussions at the Nation-
al Tourism Conference.

The conference, considered by
the government to be a critical
component of National Tourism

- Week, “will allow the Bahamas to
give its most focused attention on
important industry developments,”
according to the organisers.

The conference, which runs the
entire day, will be opened by Prime

Minister Hubert Ingraham at the
Wyndham Nassau Resort and
Crystal Palace.

Mr Ingraham’s address will
come two weeks after the opening
the Caribbean Hotel Association’s
Marketplace on Paradise Island,

and just days after concerns were
again expressed over the growth
rate of tourism in the Caribbean.

Mr Ingraham’s address is set
against the backdrop of a weak US
dollar and a mortgage crunch in
the United States, which is the
Bahamas’ largest tourist market.

The conference will also hear
from Dr Peter Yesawich, one of
the world’s foremost authorities on
marketing, advertising and public
relations.

Dr Yesawich, who has been
named one of the “25 most extra-
ordinary marketing minds” by Hos-
pitality Sales and Marketing Asso-
ciation International, will address
the topic, “Emerging lifestyles and
travel trends: Implications for mar-
keting the Bahamas.”

During the conference’s after-

noon sessions, members of the pub-
lic will have the opportunity to
meet CEOs of major resorts and
tourist facilities. The CEOs will
make presentations on planned
developments.

@ CONFERENCE

SCHEDULE

e Thursday, January 31 — Wyn-
dham Nassau Resort. Conference
opened by Prime Minister Hubert

- Ingraham at 9am

e “A Fresh Perspective”, update
on unfolding tourism initiatives at
liam.

e Lunch presentation by Peter
Yesawich at 12.30pm.

e Tourism Business Marketplace
with CEOs of tourism, 2pm to
5.15pm.

US AMBASSADOR to the Bahamas Ned Siegel paid a court



ment Sidney Collie at the ministry’s office yesterday.

US Ambassador pledges to
continue literacy programme



Patrick Hanna/BIS

esy call on Minister of Lands and Local Govern-

_ for only

US AMBASSADOR Ned Siegel pledged to
continue the literacy programme in schools that
was started by his predecessor John Rood.

Mr Siegel told the Minister of Lands and Local
Government Sidney Collie yesterday that US
Embassy staff and his wife Stephanie also plan on
taking the programme to the Family Islands.

“Today I have my first reading at Woodcock
Elementary at 11.45am, and I already have my
book picked out and look forward to reading to

the second grade,” Mr Siegel said.

“Without question the literacy programme
must be a commitment of this embassy, and will
be a commitment of this embassy. Mrs Siegel
plans with the embassy and myself to take it
beyond New Providence.”

Mr Collie said it is important to get children
reading while they are young, as literacy can help
counteract the anti-social problems found in many
junior high schools. :

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THURSDAY, JANUARY 31, 2008, PAGE 11



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PAGE 12, THURSDAY, JANUARY 31, 2008

THE TRIBUNE



National forensic lab and formal plea-bargaining

‘are needed to enhance the justice system’

FROM page one

Mr Bell continued: “Now
for years we were asking for
a forensics lab — a fully
functioning forensics lab.
And this is something which

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times used to commit
repeated crimes, such as
murder.

’ A formal plea bargaining
system is also needed “as
quickly as possible” said Mr
Bell. This system would

8)

Kenneth Lloyd Sym nette, Sr.

Aug. 25,1924 - Dec. 13, 2007

We continue to be comforted by your
outpouring of love, support and expressions of
_ sympathy during our recent bereavement.

M y God bless you always!

The Family

allow prosecutors and
defendants to negotiate the
charge to which a defendant
pleads guilty, in exchange
for sentencing discounts.
Though no such formal leg-
islative process exists in the
Bahamas, President of the
Bahamas Bar Council
Wayne Munroe, in an earli-
er panel at the forum yes-
terday, noted that currently
there is no barrier to plea
bargaining in the Bahamas.

In presenting some statis-
tics to the forum yesterday,
which was held at the
Hilton Hotel on Bay Street,
Mr Bell said that there are
some 80,000 warrants out-
standing in his office.

In 2007, he also revealed
that 8,715 cases were
brought forward in the mag-
istrate’s courts. Some 3,678
criminal cases were received
in these courts, with 2,598
cases coming to completion.
Overall, he said, through
2007, 9,795 criminal cases
are still pending before the

magistrate’s courts.

In addition to this num-
ber, there are some 48,000
traffic cases before the
courts, said Mr Bell yester-
day.

“The reality of the situa-
tion, ladies and gentlemen,
even though we know our
rate of recidivism is pretty
high in the Bahamas - at
least a third of our popula-
tion is offending — it means
that we have to look seri-
ously at our criminal justice
system to determine the
way ahead,” he said.

From the year 2000 to
2007 there have been some
484 murders in the
Bahamas. Mr Bell reported
that the detection rate of
police for this crime fluctu-
ates between 75 and 83 per
cent.

In offering additional
reforms to the current judi-
cial system, Mr Bell said
that methods of restorative
justice should be encour-
aged between parties in dis-

pute to ensure that matters
can be resolved before they
come to court.

There should also be the
expansion of fixed penalty
notices to include minor
offences, continued Mr Bell.
This would allow police to
issue fines for matters other
than traffic offences, poten-
tially reducing the court
backlog.

Mr Bell said that he has
warrants in his office that
date from 1975. Conse-
quently, there needs to be
case review, and for certain.
matters, the attorney gen-
eral should be asked to

_ exercise her constitutional

authority and end these cas-
es, he said.

The creation of special-
ized courts; the appoint-
ment of additional magis-
trates and judges; and the
continuous amendment and

review of relevant legisla-:

tion related to the justice
system, were also suggest-
ed by Mr Bell.

Nassau drugs comment on
travel blog gets mixed reaction



FROM page one

Yesterday, visitors to the site pointed out that
the Bahamas is not alone in having drug pushers on
its streets, with one further suggesting that if it were
not for the level of demand for such drugs among
tourists the prevalence of persons offering them
would not be so significant.

Reader Tim McDonald commented that he had
the “same thing” that Mr Baldwin described hap-
pening to him in Nassau in the Virgin Islands,
Kingston Jamaica and Port of Spain, Trinidad.

“Actually, pretty much anywhere I've visited or
lived in the Caribbean, you can get dope like in the
U.S. you'd go to a convenience store and. get a
Snickers,” said the site visitor.

Another reader, Kiel Christianson, recalled visit-
ing Jamaica in the 1980s and “being offered weed by
the guy helping get our bags off the carousel in the
airport. Then by the taxi driver. Then by the guy at
the hotel. Then every few yards on the street.”

While one visitor posted a comment asking why
Mr Baldwin wanted to “discredit the entire

XCOdianney

WN

TC

™E®Q{AE

Bahamas”, another, identifying himself as Drew,
said that Mr Baldwin was not “attacking the
Bahamas” if the information he was giving was true.

“Tam a Bahamian and J live in the Bahamas and
while I am not surprised at this episode, I think it’s
fair to point out that this little incident is another
case of simple economics. Supply and demand,”
said Drew.

“Being an islander who used to offer help to vis-
itors lost and having given rides to complete
strangers at zero cost ever only to be asked if I have ‘
any weed or know where they can score some coke,
can you really blame some enterprising individual
with poor values for going corporate with his drug
sales? Maybe people in the islands and in the other
seedier locales will stop offering North Americans
drugs when the gringos stop asking for them,” he
said.

On Tuesday, Chairman of the Nassau Tourism
Development Board Charles Klonaris said that
while the Tourism Policing Unit was created to deal
with occurrences such as this, the unit’s effectiveness
is undermined when such incidences go unreported
by those who experience them.

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THE TRIBUNE

THURSDAY, JANUARY 31, 2008, PAGE 13










criticises
Bush's State
of the Union

mi HAVANA

FIDEL CASTRO called Pres-
ident Bush's State of the Union ;
address a new low point in “dem-
agoguery, lies and total lack of :
ethics” in a commentary pub- :
lished Wednesday, according to }

Associated Press.

The ailing 81-year-old leader :
wrote that “Bush tells us more :
with his external expressions than :
with the words written by his }
advisers,” but added that “for a :
population that knows how to }
read, write and think, nobody can :
offer a more elegant criticism of

the empire than Bush himself.”

© Castro and top Cuban officials:
rbutinely refer to the United :

States as “the empire.”

In Wednesday's essay, called
“The Antithesis of Ethics” and }
published on the front pages of :
government newspapers, Castro :
said Bush’s latest speech was }
worse than earlier State of the |
Union addresses: “the worst for
its demagoguery, lies and total :

lack of ethics.”

Quoting extensively from :
Monday’s address, Castro }
accused the Bush administration :
of running up U.S. débt and said :.
Washington's wars have }
increased military spending :

worldwide by 60 percent.

Castro wrote that the U.S.-led_ :
war in Afghanistan “was the }
same thing that the U.S.S.R }
wanted to do, occupy the country :
with its powerful armed forces }
that were ultimately defeated }
when they ran into its customs, }
religion and cultural differences.” :

He said Bush used the Sept. :
11 terrorist attacks as an excuse }
to invade Iraq, and that “no one }
in the world doubts the objective }
was to occupy (Iraq’s) oil instal- :
lations and has cost that coun- :
try’s people hundreds of thou- :
sands of deaths and millions dis- :

placed from their homes.”

Castro has not been seen in }
public since undergoing a series |
of emergency intestinal surgeries :
and stepping aside as president in :
favor of his younger brother Raul :
in July 2006. He is recovering :
from an undisclosed illness in a }
secret location, though life on the :
island has remained little-.:

changed in his absence.

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LOCAL NEWS

Search for armed robbers
after two separate incidents

year-old male resident of East
Street is in police custody in
connection with the discovery
of an illegal firearm and
ammunition.

Officers from the Mobile
Division executed a search
warrant at a house in
Brougham Street off East
Street at around 5.50am on

ots

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°
3
@
=
ew
“4
=
a
2
S
5
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=.
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outside their home in the
Snglerston area.

Around 10.30pm, the 35-
year-old man and his wife
were arriving home when two
masked gunmen described as
“dark skinned” and clad in

POLICE are on the look-
out for armed robbers who
accosted three persons in two
separate incidents.

Shortly after 7pm on Tues-
day, a 41-year-old man was
sitting in his car in the Cable
Beach area when he was _ dark trousers and white shirts
approached by a dark man approached and demanded
who brandished a handgun. cash.

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The culprit, who was report-
edly wearing dark clothing,
demanded cash.

He fled the area with a
small quantity of cash stolen
from the victim, police said.

A few hours later, a couple
was robbed of an undeter-
mined amount of cash while

The wife was robbed of cash

believed to be the property of

a church and the husband was

robbed of a small quantity of

personal cash, police say.
The two robbers fled the
area. Police are actively inves-
tigating both incidents.
In other crime news, a 29-

Wednesday, police said.

Inside a bedroom, the
officers found a chrome and
silver .45 handgun along with
eight live rounds of ammuni-
tion.

A 29-year-old man is cur-
rently helping police with their
investigations.

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PAGE 14, THURSDAY, JANUARY 37, 2008

THE TRIBUNE






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FROM page one

two nannies who are also listed as witnesses in the
matter,

The inquest into the death of Danicl Smith, 20, the
son of late reality TV star Anna Nicole Smith con-
tinued yesterday as real estate developers G Ben
Thompson and his son, Gaither Ben Thompson II,
were called to testify.

The elder Thompson told the court that he first
met Anna Nicole Smith and her son, Daniel, in 2005
at the Hard Rock Hotel and that over time he and
the two became friends. Mr Thompson told the
court that on Saturday, September 9, 2006, he was
informed that Anna Nicole had had a baby and as a
result he and family members, including his son-in
law, Ford Shelley, came to the Bahamas.

Mr Thompson told the court that when they
arrived in Nassau they went to Doctor’s Hospital
where they met Anna, the new born and Howard
Stern. Mr Thompson said that he also saw Daniel
that day, as Howard Stern went to pick him up from
the airport and brought him to the hospital. Mr
Thompson said that Daniel was “all smiles” and
was happy to see his mother and his new born sister.
Mr Thompson said that Daniel looked a little pale,
although he attributed this to the fact that he stayed
indoors a lot. He told the court that he left the hos-
pital about an hour after Daniel arrived.

Mr Thompson said the next day he received a
call from Howard Stern who said he had to come to
the hospital immediately. Mr Thompson said he
sped to the hospital and it was there that he was
informed by a hospital official that Daniel had died.
Mr Thompson told the court that he went to Anna’s
hospital room and found her lying partially on the
bed screaming while holding onto her son. Mr
Thompson told the court that he stayed at the hos-
pital until Anna and the baby were discharged.

During questioning by lawyer Milton Evans, Mr
Thompson told the court that he had come to know
Daniel very well. “He was a nice kid,” he told the
court while describing Daniel as generally a quiet

FROM page one

Daniel Smith

person.

Mr Thompson also said that following Daniel’s
death Howard Stern took at least four pictures of the
deceased saying that they might be worth some
money one day. Mr Thompson said that he was sur-
prised by the comment. Lawyer Shaka Serville, who
appeared on behalf on Stern’s lawyer, Wayne
Munroe, asked Mr Thompson why he had never
told local police what Stern had said. Mr Thompson
said that during that time he did not go into as much
detail as there were many things he did not tell the
police at the time. Mr Serville suggested to Mr
Thompson that he had never heard Stern make
those remarks. Mr Serville also-suggested that Stern
took the pictures to prove that Daniel had in fact
died. “It could be,” Mr Thompson replied.

Gaither Ben Thompson II told the court that
while at Horizons in September 2006, he removed
from a van clothes he identified as Daniel’s, a cap
and a suitcase belonging to the deceased, after
Howard told him that he could bring them inside the
house.

Mr Thompson II told the court that he took the
items into the master bedroom and put them on
the bed. He said that he, Stern and Ford Shelley
opened the suitcase. Mr Thompson II said he saw
two white egg-shaped pills in Stern’s hands, although
he could not say how he got them: Mr Thompson II
said that Stern went into the bathroom and came out
a few minutes later saying that he had taken care of
“the problem.”

During cross-examination by lawyer Milton
Evans, Mr Thompson II told the court that he saw a
bottle of methadone in the Horizons home in Feb-
ruary of 2007. Mr Thompson II said that there was
a prescription on the bottle. He told the court that he
took a picture of the bottle.

The Daniel Smith inquest was adjourned to
March, 17, 18 and 20.

to be here to take us to universi-
ty status.”

not complying with the spirit of
the Industrial Agreement signed
in May 2006 with its members.

“There are a number of issues
that have persisted for some time
and, despite many meetings much
written correspondence and even
the filing of some trade disputes,
these matters are not being
resolved,” said the release.

“UTEB has tried to meet and
talk with, administrators but key
issues affecting faculty and the
basic principle of negotiating in
good faith are being violated,” it
claimed.

UTEB claims that manage-
ment is “creatively interpreting”
fundamental clauses of its indus-
trial agreement, including those
relating to class size and faculty
work load, thereby
“manipulat(ing),
misinterpret(ing), misapply(ing)
and disregard(ing)” the agree-
ment,

The union asserted that faculty
are being “let go without just
cause” at the college, as it strives
to attain university status.

A search to find faculty with

COB

Ph.Ds, a requisite aspect of attain-
ing this status appears “outweighs
the national imperative” and is
causing Bahamians with masters
degrees “to be denied employ-
ment,” claimed the union.

Another major source of dis-
gruntlement is the lack of a pro-
motional exercise at the college
for “over six years”.

A suggestion allegedly made
by the College Council that the
decisions of the promotions board
should be sent to the President,
Janyne Hodder, before being for-
warded to the Council for ratifi-
cation, has drawn ire.

UTEB condemned the sugges-
tion, stating that it would allow
Mrs Hodder to “possibly nullify-
ing the recommendations of what
was supposed to be an
autonomous board.”

UTEB said it is “confused as to
the position that the President
(Janyne Hodder) is taking as she
is coming from a North American
university which has a peer-
reviewed, transparant process for
promotions, and she is supposed

The release went on to state
that research at the college “con-
tinues to lack direction and pur-
pose.”

Faculty members of the
research unit are said by UTEB
to be suffering adverse working
conditions and “uncertainty about
their career path.”

“The matter has been brought
to the attention of the president,
who has made no effort to recog-
nise the concerns being expressed
by the research faculty,” UTEB
claimed.

UTEB additionally charges
that faculty within the College’s
Continuing Education centre —
despite being crucial to the
“development of those of our stu-
dents who graduate with less than
the required five BGCSEs for
admission to the college” — are
“treated like second class citi-
zens” and are refused permission
to join the UTEB bargaining unit,
in apparent conflict with an Inter-
national Labour Organisation
convention.

. The Tribune was unable to
reach the College of the Bahamas
for comment yesterday.

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THE TRIBUNE





© In brief

Frustration in
Grand Bahama
over cellular

service woes

@ By DENISE MAYCOCK
Tribune Freeport
Reporter

dmaycock@tribunemedia.net

Grand Bahamians experi-
enced interruptions in GSM cel-
lular services for several hours
this week, leaving many sub-
scribers frustrated.

“The system is just not reli-
able — the service is terrible,”
complained a COB student who
was unable to make a call on
her cellular phone on Tuesday.

The Tribune contacted the
BTC office in Freeport to
inquire about the interruption
in service, however, no one was
available in the public relations
department.

Henry Romer, general man-
ager at BTC, Freeport, did not

return our calls up to press time. —

It is believed that the inter-
ruption in the GSM cellular net-
work system in Grand Bahama
could be the result of act of sab-
otage in connection with the
work stoppage in New Provi-
dence.

The interruption lasted for
the entire morning and service
was restored some time around
lpm on Tuesday.

Cable Bahamas also experi-
enced interruptions in its inter-
net service in west Grand
Bahama as a result of a power
outage in the area on Sunday.

According to Edris Wilson,
general manager at Cable
Bahamas in Freeport, the inter-
ruption in internet service was
limited to the Bootle Bay area
and occurred just before 10am
on Sunday.

Ms Wilson explained that the
lapse in service was caused by a
problem experienced by the
Grand Bahama Power Compa-
ny.

She explained that when
power was restored, there con-
tinued to be no cable service,
because the surge had damaged
Cable Bahamas’ power supply.

“Once discovered..:our tech-
nical team got right on it and
service was restored by 2pm on
Sunday.

“On Monday, the internet
service was out for just an hour
so that our team could carry out
maintenance and complete
repairs,” she said.

WV

‘Parmesan
Chicken
and.Rice’

THE Ministry of Tourism and
Aviation has rejected claims that
it has treated Bahamian musi-
cians unfairly.

This follows a complaint .by
some musicians that individual
local artists were overlooked for
the Cacique Awards this year, in
favour of the Royal Bahamas
Defence Force Band.

“The Bahamas Ministry of
Tourism fully supports the fair
treatment and comprehensive
representation of Bahamian
entertainers, musicians, artists
and artisans,” said the ministry
in a statement. “These groups
represent integral components
of our tourism product, as they
are the very elements that dis-
tinguish the islands of the
Bahamas from our regional
competitors.”

The ministry said it has
demonstrated its support
through the hundreds of thou-
sands‘of dollars that it has spent
over the years flying contingen-
cies of Bahamian entertainers,
musicians, artists and artisans
around the world to events and
occasions “ranging from black-
tie sophistication to the down-
home performances that can






















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4/2 teaspoon dried thyme
4 (8-ounce) package presliced mushrooms
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4/2 teaspoon salt
1/4 teaspoon freshly ground black pepper
1 cup uncooked Mahatma® Gold “one-one” Rice
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4/2 cup (2 ounces) grated fresh Parmesan cheese
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ARTISTS ‘OVERLOOKED FOR CACIQUE AWARDS’

Ministry rejects claims of untair
treatment of Bahamian musicians

only be found in our islands.”

“The ministry has been con-
sistent in its effort to expose
such jewels of the Bahamas to
the rest of world and likewise
expose the world and the oppor-
tunities that go along with it, to
professional and aspiring
Bahamian talents of the full
range of art forms,” the state-
ment said.

It noted that domestically, the
ministry demonstrates its sup-
port through the “vastly diverse
range of Bahamian talent” that
it has hired for international,
national and local events that
government hosts throughout
the Bahamas: “Such support is
an important staple to the work
of the Ministry of Tourism.”

The ministry went on to note
that the Bahamas is unique in
that its two armed forces: the
police and Defence Force, boast
hugely talented musicians and
entertainers in their ranks,

It said the Royal Bahamas
Police Force Band is world
renowned and the popularity of
the Defence Force’s Band is
steadily growing through the
increased exposure they are per-
mitted, particularly at events as








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Heat oil in a large nonstick skillet over medium-high heat. Add the onion, gar-

lic, thyme, and mushrooms; sauté 5 minutes or until onion is tender. Add chicken

| breasts; sauté 6 minutes on each side or until the chicken is lightly browned. Remove
chicken and keep warm. To the skillet add wine, salt, and pepper; cook 3 minutes or }

until hquid almost evaporates. Stir in rice and broth. Bring to a boil; cover, reduce heat

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THURSDAY, JANUARY 31, 2008, PAGE 15



important as the Annual
Cacique Awards.

“Performances by the coun-
try’s police and Defence Force
bands, at home and abroad,
always tend to imbue a special
sense of pride in our people, and
the Ministry of Tourism’s use
of the Defence Force Band dur-
ing the Annual Cacique
Awards, a black-tie affair, and
the industry’s biggest night
where the best and brightest
take centre stage, is the min-
istry’s own vote of confidence
in the band and demonstrates
just how highly it regards the
group’s hardworking musicians.
It is merely a continuation of
the ministry’s efforts to ensure
that such talent is duly granted a
national spotlight, and a demon-
stration of the tourism ministry’s
prerogative to do precisely
that,” the statement said.

It said the Ministry of
Tourism and Aviation stands
firmly by its record.

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PAGE 16, THURSDAY, JANUARY 31, 2008



‘LOCAL NEWS”

NEW US AMBASSADOR MEETS GOVERNMENT MINISTERS









KIA MOTORS

The Power to Surprise”





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sador does the rounds to meet
govt ministers

1. US Ambassador to the
Bahamas Ned Siegel paid a cour-
tesy call on Minister of Health
and Social Development Dr
Hubert Minnis at the minister's
office on Monday.

week

2. US Ambassador Ned Siegel
greets Minister of State for Social
Development Loretta Butler-Turn-
er at her office.

ae

3. Ambassador Siegel visited
Minister of Housing and National
Insurance Kenneth Russell.

Patrick Hanna/BIS



| ‘In-House Financing Available

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THE TRIBUNE



A leading global, research-based pharmaceutical company
seeks qualified persons for the following position:

MEDICAL SALES REPRESENTATIVE

The medical rep will be responsible for promoting
pharmaceutical brands within the healthcare community
in The Bahamas.

Skills & Educational Requirements:

of Bachelor's degree in medical science, allied health, or
business management

Jf Effective communication and presentation abilities

/ Proficiency in time management, planning and
organizing

/ Computer literate
/ Self-motivated team player

/ Previous experience in pharmaceutical detailing
would be an asset

Candidates should possess a reliable motor vehicle, be
willing to travel to the family islands, to the U.S., and other
foreign countries.

Please send application letter and resumé
by February 6th, 2008 to:

MEDICAL REP
P.O. Box N-7504
Nassau, Bahamas
or Fax: 393-0440

We thank all applicants for their interest, however;
only short-listed candidates will be contacted.



An established paving company is presently considering
applications for the following:

OFFICE MANAGER

This position is open to candidates with the following
qualifications:

* 3-5 year previous administration, office management and
customer service related experience;

+ Proficiency in Microsoft Word, Excel, PowerPoint and
QuickBooks;

* Knowledge of accounting and general office procedures is a
must.

Personal attributes

Must have the ability to identify priorities and meet deadlines in
a timely manner;

Able to work independently on projects and also collaborate as

a strong team member;

- Must keep up to date on all issues and trends affecting their
area of responsibility.

All interested applicants should fax a cover letter and their

resume to 361-1469 or email recruitmentbahamas@qmail.com.

Application close on February 7, 2008

Only suitable applications will be acknowledged.



le

bop Lp Ai ie . ctt AeDSLett LE BR DOM AAO AOL Ae a EI Aa MMi wales Tilt Edie at) Na 8s teas Silay lant psntislit eb Shane



THE TRIBUNE THURSDAY, JANUARY 31, 2008, PAGE 17



IMMIGRATION
NOTICE

The rea persons are asked to contact the Department of
Immigration at telephone numbers 502-0563 or 502-0537 in
connection with their application for citizenship and permanent
residence. —

Alder, Riffin

Alouidor, Kaye

Ambroise, Anise

Ambroise, Franky
Augustma, Francois —
Anderson, Paula

Anestor, Anselot

Antoine, Emmanuella

Aris, Claude

Apply, Karen

Appolon, Amos

Augustin, Sauveur
Bachmann, Thomas

Belony, Gervais
Belot, James
Bienaime, Fritzner
Blanc, Lavira

Brecher, Mark

Brinkley, Sonya

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Joseph, Nasson (c/o Bettie Dorcely)
Joseph, Jhondeka

Joseph, Leslie

Joseph, James

Joseph, Reynold

Jules, Kedly

Kelly, Linos

Kemp, Sherry

Kerr, Therame Leonie
Knowles, Marie Vernicia
Lacroix, Angeline O.
Lamour, Amos -

Leslie, Clement

Lindsay, Leona Madgaretta
Livadas, Christos

Leonce, Jeanine

Louis, Joselaine

Louis, Shantnel

Louis, Reviere O.

Peter Ramsay/BIS



JERRY D CLAYTON, owner of the Hawk’ s Nest Resort on Cat Island met with Prime Minister Hubert ne
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plans for the resort.





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Gomez, Pablo-Felix
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Guillaume, Linda
Guerrier, Alma
Guerrier, Faustin
Hall, Schivon N.
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Reynolds, Lauren
Riviere-Clecidor, Shirley
Robinson, Selina

Rolle, Claudette

Rollins, Manishka
Saintilhomme, Jeancius
St.Michael-Hylton, Byron
Samuels, Lennise
Saunders, Cristina
Seamy, Pierre
Severe, Yanick
Shaw, Lloyd

Simon, Allen

Small, Thomas

Stern, Kim

Sylvain, Herode
Sylverain-Joseph, Ella
Theophile, Ernage
Thurene, Dieuseul
Tilme, Adie John
Tysoe, Clive

Valson, Kelvis
Valbrun, Curry
Valbrun, Daniel “ees
Valbrun, Odonel
Veus, Luckson
Wilson, David

Youte, Orius





PAGE 18, THURSDAY, JANUARY 31, 2008 THE TRIBUNE





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re \



THE TRIBUNE

HARBOUR BAY SHOPPING PLAZA, 309-7226 - CABLE COTTAGE CABLE 29 327-7072
(LESS 8% FOR CREDIT CARDS - NO STORE CREDITS OR GIFT CERTIFICATES - ALL SALES FINAL)





The fanastic hit show that everybody's
talking about, continues this season on

‘Monday, February 04, 2008

Q Visitor's Voice With Raquel Horton

Lt Making it In Tourism With
_ Fine Artist, Wendy Cartwright

Md Improving The Service In The
Service Industry With: Vernice Walkine,
Tommy Thompson, Gloria Brown
Romeo Farrington, Alec ae
and Frank Comito

(Q Peace And Plenty Anniversary

Q The Exuma Cays





|

Be sure to ture in to another brand new, : a8
informative episode of the show °
4 ' every Monday at 8:30 pm

and Saturday at 10:00 am on ZNS TV.







THURSDAY, JANUARY 31, 2008, PAGE 19

| Pictured from left: Rebecca Moxey, support officer, Marketing & Public Relations; Shawn Sawyer,
winner; Caroline Turnquest, regional manager, Merchant Services, Bahamas Card Centre.

SHOP! SWIPE! & WIN! WINNERS

Congratulations to Shawn Sawyer and C. Denise Newbold, winners in RBC’s
SHOP! SWIPE! & WIN! promotion. During December customers and staff
using their RBC Visa and MasterCard had their names automatically entered to
win the value of what they purchased after every three credit card swipes!

Choose the RBC credit card that's right for you and enjoy:
> Guaranteed QUICK turnaround from application to
credit card in your hand
Very competitive fees and rates
24-hour customer service from anywhere in the world
A state-of-the-art 24/7 fraud monitoring system that
enhances the safety and security of your account
Royal Online” internet banking that allows you to
view your transactions and account balance
anywhere, anytime

> And much more! Staff winner - C. Denise

Newbold, Associate, RBC
Dominion Securities
(Global) Limited

RBC > HELPING YOU SUCCEED







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FI HE TRIBUNE

“THURSDAY,

Clipper completes
28.72% Bahamas :
Ferries stake deal

= By NEIL HARTNELL

Tribune Business Editor

CLIPPER
Group, the
Nassau-head-
quartered
global shipping
firm, this week
closed its
acquisition of
a minority
28.72 per cent
stake in Bahamas Ferries, which
yesterday told The Tribune the
move would provide it with
“tremendous benefits”.

Nd

Khaalis Rolle



Deal to have ‘tremendous
benefits’ for Bahamian
transport provider, as fuel
costs rise from under $1
per gallon when formed

to just under $5 per gallon

Khaalis Rolle, the inter-island
marine transportation
provider’s chief marketing offi-
cer, said of Clipper’s strategic

SEE page 12B

JANUARY. 31.





2008



i°



Money Safe.
Money Fast.

Jotemstional Muncy trauzter

Bank of The Bahamas

INTERNATIONAL

Grtine at

KanktichawusOriine.cer

ISX now ‘cleared’ to lis

issuers’ secondary issues

a By NEIL HARTNELL
Tribune Business Editor
——————

he Bahamas Inter-
national Securities
Exchange (BISX)
yesterday said it
had “received
clearance” to list on the
exchange secondary securities
issues - such as preference share
and bonds - that are launched
by companies already registered
with it.

Keith Davies, BISX’s chief
executive, told The Tribune that
the Securities Commission of
the Bahamas had given it per-
mission to “broaden and deep-



en” the Bahamian capital mar-
kets by providing a platform on
which holders of public compa-
nies’ debt issues could trade
these instruments.

He explained: “What we have
received clearance to do is the
ability to list additional securi-
ties that have been issued by
publicly-listed companies
already trading on the
exchange.

“We will know within the
next week or so, assuming we
can get all the information
ready, when we expect to have
the first publicly traded compa-
ny’s debt issue on the

’ exchange.”

The BISX chief executive
added that Fidelity Bank
(Bahamas) had “made it
known” through the offering
memorandum of its intention
to list on BISX the $15 million
bond issue that it placed in mid-
2007, and had informally
approached the exchange on
the subject.

“That is something we expect
to move full-steam on. That is
something we will seek to
accomplish through the listing
process, once they make a for-
mal approach to us,” he added.

Caribbean Crossings’ $10 mil-
lion preference shares, which
were the ee Bahamas’ affil-

Rum Cay developer finishing off finance within three weeks

@ By NEIL HARTNELL
Tribune Business Editor

THE developer behind the
$700 million Rum Cay Resort
Marina said it expected to “fin-
ish off our financing rounds in
the next three weeks”, as makes
plans to redevelop the island’s
Sumner Point Marina and work
on the beach lots at its main
897-acre development.

Michael Farrant, Montana
Holdings’ chief operating offi-
cer, said the development com-
pany was “having positive signs
from investors”, who would
enable it “to do all the devel-
opment we want to do on Rum
Cay”.

Acknowledging that the Rum

Cay Resort Marina was ina
“construction lull” as the devel-
oper put together new debt and
equity financing, Mr Farrant
added: “We’re finishing off our
financing rounds in the next
three weeks. It is a construction
lull as we put together financing
to roll-out the Sumner Point
development and the beach
lots.”

He:said Montana Holdings
had already dredged the marina
at its main 897-acre Rum Cay
Resort Marina site, and com-
pleted and compacted the first
private island, which will lie in
the middle of the marina basin.

“In Sumner Point, we have
been upgrading the restaurant;
we are examining for this sea-

Court backs S50m
fund’s liquidation

m@ By NEIL HARTNELL
Tribune Business Editor

THE Supreme Court last
week approved the court-super-
vised liquidation of a $50 mil-
lion Bahamas-based investment
fund, into which Canadian reg-
ulators are alleging a Montreal
broker made “illegal” invest-
ments.

The Quebec securities regu-

Ferrere named as
co-liquidator, as
Commission acts

over fund that received
‘illegal’ investments

SEE page 8B

Project Management
Ooreieriin



son hs we improve the exist-
ing docks, and we have done a
lit of landscaping,” Mr Farrant
said.

“We are making Sumner
Point ready for the season, so
that when boaters arrive they
can see things have changed for
the better. We have hired Rum
Cayans for this work, we have
an island manager, and are
putting together designs for
Phase I at Sumner Point.

“We’re going to do Sumner
Point and the beachfront lots
on the 897-acre site in Phase I.
Those beachfront lots will start
at $1 million.”

Mr Farrant explained that at
Sumner Point the developers
planned to construct homes and

lots on the inside of the marina
basin, and also on land facing
the sea. Docks would also be

-constructed, and the main com-

munal areas cleaned up.

Then, in Phase II, Montana
Holdings planned to construct a
small boutique hotel at Sumner
Point Marina to cater specifi-
cally to its yachting, boating
clients.

“We want a nice, measured
approach” to developing the
Sumner Point Marina, Mr Far-
rant said, adding that Montana
Holdings was “in the process of
completing” the final details of
its acquisition from Sumner
Point Properties, the company
owned by American Bobby Lit-
tle.

Montana Holdings has
already been given “power of
attorney” and is running the
Sumner Point Marina from an
operational viewpoint.

“This has existing infrastruc-

ture, gives work to Rum -

Cayans, and keeps development
going during these challenging
times,” Mr Farrant added of
Sumner Point.

“It gives a nice platform, in
terms of lots of prestige and
profits, to roll into Phase IT and
finishing off the [Rum Cay
Resort Marina’s] marina, which
is not far away.

“There is a huge following

SEE page 14B

Now Providence: * Grand Bahama » Andros « nagua
Brome * San Salvador
Head Office Nassau: (242) 397-3000
Proud wiriner of she 2007 Bahamas Chanter of Commerce
Business of the Year Award

BUSINESS TECHNOLOGY
Providing Technology That Works!
242-328-3040

iate’s primary issue to Bahami-
an investors, were also a target
for attracting on to the
exchange through the new sec
ondary issues’ listing feature.
Currently, they are listed on the
over-the-counter bulletin
Board.

Mr Davies said that through
this listings initiative, BISX was
linking Bahamian investors and
shareholders who were active
or potential traders of ordinary
stocks listed with it, with those
who held these companies’ pref-
erence shares and bonds.

SEE page 4B


































nternational









PAGE 2% THURSDAY, JANUARY 31, 2008 THE TRUBUNE



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THE TRIBUNE

BUSINESS

THURSDAY, JANUARY 31, 2008, PAGI-



Forging legal ties
that are binding

ONE of the essential service’
required by any business is a
good relationship with a com-
petent attorney or law firm,
whether for litigation, commer-

. cial or transaction purposes.

As. with other service
providers, it is important that a
business considers certain fac-
tors in selecting attorneys,
preparing for attorney-client
meetings/consultations, main-
taining and managing the legal
relationship, and the overall

conduct of the legal matter.

Key Considerations
When retaining an attorney

or law firm for a legal matter, a_

business should consider the fol-
lowing key elements:

| * The attorney/law firm’s
expertise in the area of the
» j anticipated/specific business
“need or legal matter(s) to be
addressed. Some legal matters
require both litigation and
transactional competencies, plus
an overall commercial aware-
ness and understanding of the

4 business’s best legal strategy.

; ?
ae
>

* Potential conflicts of inter-
est or representation of any
potential alliance partners
and/or competitors.

* The adequacy of the attor-

/ney/law firm’s professional

~ indemnity insurance for poten-

tial liability, given the legal mat-
ter for which the attorney/law
firm will be engaged.

* The experience, compe-
tence, case management, lead-
ership, communication and legal

= and business skills of the attor-

ney/law firm to handle the

* The integrity and trustwor-

* thiness of the attorney/law firm,

and his/her understanding and

%» coniinitment to the eonfiden=

pagans

roe

Ee S



“fiality, attorney-client privilege,

and roles and legal responsibil-
ities of the parties upon engage-

. * The clarity and compre-
- hensiveness of the law firm’s
engagement letter, retainer
agreement, or the terms and

a conditions of theit engagement

in - and conduct of - the legal
matter. .

* The attorney/law firm’s
hourly rate, estimated fees,
retainer, payment arrange-
ments, and fee structure and
billing scheme for work to be
done by junior attorneys and/or
paralegals.

* Any past work, cases or
legal matters performed by the
attorney/law firm in the area of
the specific legal matter to be
litigated or handled by the
attorney/law firm.

* The reputation and
respectability of the
attorney/law firm locally and
internationally.

* Whether any complaints
have been made, or disciplinary
actions taken, against the attor-
ney/law firm by the Bahamas

»,. Bar Association.

ae

i

g
ss
oe





Documentation

Before meeting the attor-
ney/law firm for initial consul-
tation on the legal matter to be
addressed, a business person
should organise and bring a
copy of all of the Jegal and busi-
ness documents and correspon-
dence that may be relevant.

CALL:
325-6570
325-6571
for more
information



al the school office.

Wear school uniform.
$20.00 testing fee

GROUP
TESTING

Saturday,
February 23, 2008
at 8:00am

Applications are available

Bring pen, pencils, rulers.

Preparatory Academy

POA



Depending upon the specific
business or legal need, these
documents may include, but be
limited to, the following items:

* Business plan, organisa-
tional chart, company manuals,
policies and procedures, com-
pliance reports, annual reports,
and financial statements/corpo-
rate documents.

These might include originals
or copies of the Certificate of
Incorporation, Memorandum
and Articles of Association, res-
olutions, minutes, Registers of
directors and officers, Register
of Members, Certificates of
Incumbency, Powers of Attor-
ney, Shareholder Agreements.

Other documents might
include letters, e-mail messages,
and other correspondences that
may be contractual, vendor,
employment, or other business
agreements. Court documents,
including Writs of Summons,
Statements of Claim and Judg-
ments, may also be required.

Information gathering

and understanding

the legal process

In your initial meeting with
the attorney/law firm, some of
the following questions should
be asked:

* How many transactions or
cases similar to the legal matter
to be addressed has the lawyer
handled?

* What has been the out-
come/success rate of past legal
matters?

* How much of the attor-
ney/law firm’s work is done in
the particular area of the-legal
matter to be engaged?

* What is the process, proce-
dure and paper work involved
in the particular legal matter to
be engaged? Will the attor-
ney/law firm also effectively,
and responsively, communicate
this information to the client in

a clear, coherent and compre-:

hensive manner?

What is the education and
information-gathering process
between the attorney/law firm
and client? Will there be any
legal coaching and overall legal
strategy in the conduct of the
matter?

* Are there any potential
conflicts of interest relating to
the attorney’s proposed engage-
ment in the matter?

* What personal and corpo-
rate documentation is needed
in order to engage the attor-
ney/law firm?

* How long will the matter
take to conclude? What will be
the mode and frequency of
communication between the
attorney/law firm and the client
in the conduct of the matter?

* How many attorneys/para-
legals will be working on the
matter? How will the client be
charged — hourly rate, flat fee,
or retainer? How will the work
of junior attorneys, paralegals,
staff members be reflected in
the billing? What are the esti-
mated disbursements and
expenses involved? —

* What will be the nature and









ey





Mt. Carmel




ambit of their legal service,
advice and assistance on
engagement and throughout the
conduct of the matter?

* What are the alternative
solutions, legal strategies and
possible consequences of each
option to be proposed or pur-
sued by the attorney/law firm?

* What is the prospect/poten-
tial outcome of the case? Are
these aligned with the expecta-
tions of both the attorney/law
firm and client?

All attorney-client relation-
ships should be built, main-

tained and managed on integri- .

ty, trust, mutual understanding,
open and honest communica-
tion, professionalism and inter-
dependence.

These objectives can only
achieved on the clear role, risks
and responsibilities of both
attorney and client, and an
appreciation and respect for the
professional services to be ren-
dered and rewards to be gained.

© 2008. Tyrone L. E. Fitzger-
ald. All rights reserved. NB:
The information contained in
this article does not constitute
nor is it a substitute for legal
advice. Persons reading this
article and/or column, general-
ly, are encouraged to seek the
relevant legal advice and assis-
tance regarding issues that may
affect them and may relate to
the information presented.

Tyrone L. E. Fitzgerald is a
practising attorney in the
Chambers of Fitzgerald &
Fitzgerald. Should you have
any comments regarding the
content of this article, you may
contact Mr Fitzgerald at Suite
212, Lagoon Court Building,
Olde Towne Mall at Sandy-
port, West Bay St., P. O. Box
CB-11173, Nassau, Bahamas
or at tyrone@tlefitzgerald-
group.com.



REGISTRATION FORM





BAIC :

In Conjunction With

The College of The Bahamas

Will Host

12 Weeks of Business Em mpowerment

& & % 3492 e4eses
SLSEHISHF VSS LST IHS SSF RSH SSS RSF SHSFSEGRSGRSF RHE SHE SSROEGRS gee & $3.35




PURPOSE:

of the business
NAME: to them now, and to
encourage them io
exploit such

ADDRESS: :
empowering them to

DATE:
2008

TELEPHONE CONTACT(S): February 7-Apnl 24,

FAX NUMBER:
TIME: 7:00 p.m.,

Lecture/Presentation

EMAIL: Interactive Panel

Entrepreneur

VENUE: ‘The College Of The Bahamas

(Culinary and Hospitality Management Institute)
(Lecture Theatre)

session.
- The College of The
Bahamas

(Culinary & Hospitality
Management Institute)
(Lecture Theatre)

ode of Wekl Seminars Lt eee

VENUE:

FREE of charge



Thursday March 6, 2008 «Thursday April 3, 2008

Thursday February 7, 2008 :

Empowering Bahamians Venture Capital/Gov't Guaranteed Customer Service
Presenter - Mr. Glenn Ferguson Loans Presenter - Assoc. Prof. Dr. Olivia
Saunders

Presenter - Jerome Gomez

Thursday March 13, 2008

Thursday February 14, 2008

Preparing A Business Plan S| * Thursday April 10, 2008

Protecting your Business from

Presenter - Asst. Prof. Daniel i

Thompson Accounting /E-Commerce Criminals

Thursday Feb 94, 2008 Presenters - Asst. Prof. Kelly Presenter: Royal Bahamas Police Force
ursday February 21,

Round Table Discussion / Financial | _ Duncanson + Thursday April 17, 2008

Inst. Asst. Prof. Lili Saghafi Government Regulations and

Business License
Presenter - Bank Officials «Thursday March 20, 2008 Presenter - TBA

Accounting Software
Presenter - Mr. Shawn Smith
+ Thursday March 27, 2008

Marketing / Budgeting and
Forecasting.

Presenters - Asst. Michael Rolle
Asst. Darwin Russell

Thursday February 28, 2008
leadership & Supervision in
Business

Presenter - Assoc. Prof Peter Daniels

«Thursday April 24, 2008
Insurance / Testimonials / Closing

Ceremony
Presenter - Mr. Glenn Ferguson





CONTACT: Bahamas Agricultural and Industrial Corporation (BAIC) at 322-3740, Fax 322-2123
Le-Var Miller / Fonjia Burrows / Lester Stuart :

“gf

Chrisitan Youth Leaders Network

ty C & COLLAGE PRESENTS

11 i@e-

TM ieltn

Shelly Donahi
y Se

wiSitany . Youth

ERI ba twork

"a BFM Diplomet Center:7: Opm



To sensitize Bahamians

opportunities availabie

opportunities, thereby

become self employed.

(See Schedule Below)

Discussion followed by

Testimonials and O24





o

PAGE 4B, THURSDAY, JANUARY 31, 2008

THE TRIBUNE





BISX now ‘cleared’ to list
issuers’ Secondary issues

FROM page 1B

As the latter instruments had
never been listed on BISX
before, their holders did not

have a formalised, centralised
market on which to trade them,
effectively “disenfranchising”
them and forcing them to hold
these securities or only trade

them with other holders. These
would be the main people to
benefit from the latest listings
initiative.

“We’re giving them greater

iiventages

Your future - INVESTMENT MANAGER
in a major international Venture Fund in Nassau

You have

° A sound degree in a life science related field, such as pharmacology, biology,
nutritional sciences or medicine and/or sound business background
in nutrition or food and beverage products, preferably in the US market
Post graduate qualifications and/or an MBA or equivalent
Hands-on analytical and research experience, preferably in a Venture
Capital or Private Equity environment
Passion for a healthy lifestyle and the nght food
Excellent oral and written communications skills in English, Spanish a plus
Bahamian Citizenship, you want to live and work in an international
environment right here in Nassau, with frequent travels

We are

The world’s foremost Venture Fund in Health, Wellness and Nutrition. The Partnership
invests in the life sciences field and is particularly interested in identifying nutritional
products, dietary supplements, medical foods and innovative approaches to prevent chronic

diseases.

We offer

a job which will involve search and analysis of companies in the area of health, wellness and
nutrition and preparation of investment decisions by investment committee. A competitive
salary package commensurate with the experience and qualifications will be offered.

If you are attracted by this unique opportunity, or have questions, please contact [VC

Americas

S.A., PO. Box N-7532, Nassau or

FAX:

225-1307. or EMAIL:

hr.nassau@inventages.com for the attention of HUMAN RESOURCES -Ref: IM.

The deadline for applications is 11-February-2008.

$200 or $300 Shopping a 7
closest Meltdown times.
Register at the Mall Offices with
your meltdown time.

transparency, giving them a bet-
ter price discovery, and giving
them wider diversity and
options in terms of centralised
trading,” Mr Davies said.

“The issuing companies
already have financial report-
ing because their ordinary
shares are listed on BISX, so
this makes it easier for us to do.

High Potential Income Producing
Properties (approx.2 acres each) located
on both sides of the only road
heading into eight mile rock from
Freeport (on the boundary), $500.000
each or $950,000 for both.
Contact Tel: 357-8840 or 427-0205

LOOK WHO'S

GONNA BE THERE!!!

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THE POTTING §
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SHED

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+ SHOWCASE YOUR
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The PLA Team

DANCE FLOOR!!! Promises a Fun Filled Day —So Please Do Bring the Family,

«FACE PAINTING!
» AND MUCH MORE! A Friend or 2!

)) Dinner Tickets Are On Sale atthe School Office: $10.00
UP Please feel free to contact our School office @ 394.4781!

SUMMIT ACADEMY'S

PTA

SIZZLIN’ STEAK-OUT &
MINI-FAIR!!

Saturday, 2 February
Time: 12.00 -6:00 p.m

School Campus, East Bay Street
Waterloo Compound



\ Thank you very much for your support! SEE YOU THERE



Putting secondary securities on
BISX broadens and deepens
the market, and provides an
avenue for greater trading and
transparency to a wider audi-
ence.

“Tt’s a welcome benefit to our
market. The market needs secu-
rities, and the more you have,
the more diverse options there
are for investors, and the
greater the trading opportuni-
ties.

The BISX chief executive ,,

said the exchange was currently
undertaking an initiative to
identify the total number of
shareholders in all Bahamian
publicly-listed companies.
BISX, he added, would now
be able to approach formally

those of its listed issuers it had .
already spoken to informally on

the secondary issues listing facil-
ity.

Mr Davies said his goal was
to have every eligible security in
the Bahamas listed on the
exchange, and most public com-
panies had issued preference
shares, bonds or other forms of

debt as secondary capital raising

issues.

“] think all the companies we -

have spoken to that have an
issue out there are interested in
it,” Mr Davies said of the sec-
ondary listings feature.
“We've got to make the case
to the companies and show

them we have the ability to #9

meet their needs.

“These shareholders of sec-
ondary issues don’t have the
ability or'option of trading these
shares in a very efficient man-
ner. We will now be able to
address their needs and make
them participants in this mar-
ket.

“These investors purchase
these securities, and now they
will have an option to trade

'them'in an organised fashion

on the exchange. We’re giving
one class of shareholders the

benefits.another class enjoys.” §

.

SAN SBACHER

member of the QNB Group

The Ansbacher Group, specialists in private banking, fiduciary
services and wealth Management has an opening in The Bahamas

for the position of

SENIOR SECURITIES OFFICER

Duties include:

e Maintaining the records of all securities transactions

e Safeguarding the securities held by Ansbacher (Bahamas)
Limited & Clients of Ansbacher (Bahamas) Limited
Accurately recording and maintaining records of dividends |
paid, stock splits, interest accruing & paid, and capital
gains on securities held by the Company
Carrying out duties as they relate to the proper
administration of securities
Portfolio Valuations

The successful candidate must have the following
qualifications and experience:

Hold a Series 7 / Canadian Securities Course or a
Bachelor’s Degree in relevant field with a minimum of
3 year’s experience in a settlements department or assistant
trader position.
Proficiency with the Microsoft Office Suite & Bloomberg
An in-depth knowledge of financial markets

Please send all resumes to the attention of:
Human Resource Manager
Ansbacher (Bahamas) Limited

P.O. Box N-7768
Nassau, Bahamas
Fax: 325 -0524

E-mail: hrmanager @ansbacher.bs

Deadline for all applications by hand,
fax or e-mail is Friday 1, 2008



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THE TRIBUNE

THURSDAY, JANUARY 31, 2008, PAGE 5B





Prefabricated 1S

homes ‘did
have permits’

@ By NEIL HARTNELL
Tribune Business Editor

THE “only concern” that the
Government has over the pre-
fabricated homes imported into
north Eleuthera is whether
they meet Building Code and
environmental regulations, a
government minister told The
Tribune, and whether the
developers received a Ministry
of Finance permit to bring
them in.

Dr Earl Deveaux, minister
of works and transport, told
The Tribune that once the
Government was satisfied all
these requirements had been
met, “the rest becomes a mat-
ter of conjecture”.

He was responding to con-
cems raised by north Eleuthera
residents that the prefabricated
homes’ importation, for use in
a 29-unit condo hotel project,
could “kill” the island’s con-
struction industry because they
had arrived in the Bahamas
pre-built and fitted out.

This means there is no work
for Bahamian contractors, or
electricians and plumbers. The
feeling on north Eleuthera is
that if-these homes are permit-
ted, it could potentially open
the floodgates for other devel-
opers to import similar struc-
tures, depr’ving the Eleuthera
construction industry of valu-
able work.

However, Dr Deveaux told
The Tribune that any aggrieved
contractors who feared “these
things will have an impact on
their way of life” could

Minister Earl Deveaux

approach his ministry’s and
other government officials on
the island to voice their con-
cerns.

Adding that the Government
had received no requests yet
to look into the matter from
north Eleuthera residents, Dr
Deveaux described the units as
prefabricated structures that
were permanently fixed to con-
crete foundations, and were
“not modular or trailer
homes”.

“These structures are simi-
lar to what was used on the
Comfort Suites hotel on Par-

.adise Island,” he said. “They
’ got a permit from the Ministry

of Finance to import these
structures, and permits from
Building Control to effect
them.”

Meanwhile, Rasin Johnson,
an attorney with Governor’s
Harbour-based law firm, John-
son & Co, told The Tribune

that following the mieeting held



in Governor’s Harbour over
the pre-fabricated homes on
Friday night, Eleuthera resi-
dents were now waiting for an
official response to the reports
they had submitted to the Gov-
ernment.

“We expect an official gov-
ernment statement as to
whether this approval is a valid
approval, and whether these
structures comply with our
building and environmental
regulations,” Mr Johnson said.

He added that the homes
had been imported by the
Singing Sands Beach Club Ltd,
whose developers were said to
be Polish-American investor
Mariann Csigi, and business
partner Harold Merritt.

The developers had obtained
permission to construct and
develop a 29-unit condo hotel

project in north Eleuthera, and.

they have already constructed a
beach club and restaurant with
seating.

The pre-fabricate homes
were being used as the accom-
modation units, and Mr John-
son previously said six of them
had been installed at the hotel
site already, while another four
to five were on the dock on
north Eleuthera.

He told The Tribune yester-
day: “We are hoping to meet
with the developers. They have
indicated a willingness to meet
and sit down with the Town
Council and officials. We are
hoping to have that this week,
so they can outline their posi-
tion to local leaders and offi-
cials.”

Ss
OPPORTUNITY

TRIBUNE,
January 31st, 2008

Lot No. 1056
Pinewood Gardens Subdivision

All that lot of land having an area of 5,000 sq ft,
being lot no. 1056 of the subdivision known as
Pinewood Gardens, the said subdivision situated
in the. southern district of New providence
Bahamas. Located on this property is a structure
comprising of an approximately 10 yr old single
family residence consisting of approximately
1,205 sq. ft of enclosed living space with 3-
bedrooms with closets, 2-bathroom, linen closet,
living, dining rooms, kitchen and covered front porch. the land is slightly elevated to disallow the
possibility of flooding. the grounds are fairly kept.

Appraisal: $144,977.00



Traveling south on East Street to Sapodilla Boulevard, turn right at thatch Palm Street, turn left
onto Rosewood Street, the subject property is the second on the right hand side painted blue
trimmed white. ' :

BLACKWOOD, ABACO

All that lot of land having an area of approximately 258,064 sq. ft. This property is yet to reach its highest and best use. It
is ideally suited to single or multi-family development as is the nature of surrounding properties within the community. The
site may also serve well as a commercial site as the area remains un-zoned the property remains largely in its original state.
It is covered with low brush and broad leaf coppice vegetation intersperse with broad strands of mature Yellow Pine indigenous
to the area. The property is well drained and represents no immediate flooding danger under normal conditions.

APPRAISAL: $219,354.40

The subject property is vacant and is situated at the Southeastern entrance of the Community of Blackwood, Abaco. The
property is undivided and comprises approximately 6 acres of a larger tract of land of approximately 26 acres.

Lot B, Wilson Street, Rock Crusher
All that lot of land having an area of 10,498 sq ft, being lot B, between the subdivision known as Rock Crusher
and in the vicinity of Perpall Tract situated in the western district of New Providence, Bahamas. This property
1 is Zoned multi family/single family. Also located on this property is a structure comprising of a duplex at
foundation level under construction, and consisting of approximately 1,566 sq. ft. of enclosed living space with
a patio consisting of 270, sq. ft. the starter bars are in place and foundation poured.
Appraisal: $97,214.00
Traveling West on Farrington Road take a right after the P.L.P. headquarters, go about midways through

to Wilson Street, go though the corner all the way to the dead end. The property is located behind the chain
linked fence at the back of the yard.

NORTH ELEUTHERA HEIGHTS (ELEUTHERA)

Lot #20 approximately 11,200 sq. ft., and bounded on North by Early Settler Drive and South by Deal Investment
Ltd., this is a single family zoning and 50 ft., above sea level. This site encompasses a foundation with plumbing
and roughing inplace and well compacked quarry fill. The concrete floor has not been poured as yet. The
foundation is 2,511 sq. ft. Lot #20 situated 1.5 miles east wardly of the Bluff Settlement. The said lot is vacant
and a hill over looking the Atlantic Ocean.

Appraisal: $41,275.00

For conditions of sale and other information contact
Philip White @ 502-3077 email philio.white@scotiabank.com or
Harry Collie @ 502-3034 ¢ email harry.collie@scotiabank.com * Fax 356-3851
To view properties go to: www.stopnshopbahamas.com - Click on
“Real Estate Mall” - Click on doorway “Enter Online Store”










INVESTMENT OPPORTUNITY

a”,






reoennegnnocanecnenesnts HetcaminenitenrannnennnnenitentenneDhenennnOniees tent iadteattCHMRAnnensteenncenttentrnentntEsesttertennsensenentennretanttanentenentnneeaneereneeeetettennte seeeeyt

FAMILY ISLANDS

ABACO Appraisal: $108,000.00

PORTION OF MURPHY TOWN CROWN
ALLOTMENT, MURPHY TOWN, ABACO.

The property is 89 x 100 ft
and rectangular in shape. The
land is elevated
approximately 15 ft above
road level and approximately
25 ft above sea _ level.
Located on this property is a
twenty-year-old three
bedroom, two bathroom,
living, dining, kitchen and
laundry room house. The
structure requires much
attention.





BOSHSOAHHOCHEHOTHOHOSEHEHOHESEEHASESE

EXUMA

DUPLEX IN LOT 6625
BAHAMA SOUND No. 8, EAST, EXUMA

Trapezium shaped lot 35
ft. above sea _ level
comprising 10,000 sq. ft.
Situated thereon is a 10-
year-old single storey
duplex, 2 bed, 1 bath,
kitchen, living/dining
area and porch. (Building
is in need of repairs).

Appraisal: $170,000.00











fe

PSHHOSEROSTTOSHO HOSE CROOHSECHTOERECES

EXUMA Appraisal: $673,075.00

CASTELRAG ESTATES, LOTS 129 & 130
EXUMA HARBOUR SUBDIVISION —

The subject property is located
on Kingway Road and is}
developed with an area of &&
20,000 square feet. Situated a <
thereon is a_ residence ''
comprised of 3,645 square feet |
of living accommodations,
inclusive of 4 bedrooms, 2
baths, with laundry and utility |
spaces and a two bedroom one <
bath guest cottage of 600 ‘ Se SO
square feet. The property is fenced with white picket fencing and has a
Gazebo at the highest portion of the property.




SPAHHRSLSHAHHCA SHALES ASHASEHeRO LES

NORTH PALMETTO POINT
ELEUTHERA

All that piece parcel or lot of land and
improvements situated to the West of
the Settlement of North Paimetto |
Point, on the Island of Eleuthera. The |
total area is approximately 8,118
square feet. Situated on the property
is a 26-year-old building, comprising
approximately 1,263 square feet of
enclosed living space and a basement
area of 144 square feet. Three
bedrooms, two bathrooms, living
room, dining room, kitchen, utility room, and beauty parlour (an additional
480 square feet).

Appraisal: $134,822.00



PARCEL OF LAND, PALMETTO POINT
ELEUTHERA Appraisal: $112,105.00

All that piece, parcel or lot of land 2,743 feet East of the junction of
the Palmetto Point road and main Eleuthera Highway containing 2.45
acres. This site encompasses a 28-year-old single storey concrete
structure of approximately 832 square feet of enclosed floor space
inclusive of shop space and rest room facilities.

NS
Way
N

Ne

\
RS A \
\\
A

Hien of sale and erty other information
mn contact:

HARRY COLLIE @ 502-3034
E-mail harry.collie@scotiabank.com
Marae or :
esa PHILIP WHITE @ 502-3077

_. E-mail philipwhite@scotiabank.com

Fax: 356-3851 - send bids to P. O. Box N-7518
Rosetta Street, Nassau, Bahamas
rey a stopnshopbahamas.com

. RON mn iby R est
SNe SRE ERT eee
PRR R TMERRF TRL MAREAN CORTE NAC OUAYE SL REABENAT ET PSPANE OE CARE ARAMA ABEAE ARONA MARAE SY ERA ANRAR A ERRIAN





PAGE 6B, THURSDAY, JANUARY 31, 2008



THE TRIBUNE

INVESTMENT OPPORTUNITY

TRIBUNE,
EIU a 31st, 2008

MISCELLANEOUS PROPERTIES



Lot No. 130, St. Andrews Beach Estates
All that lot of land having an area of 8,100 sq ft, being
lot no. 130, of the subdivision known and designated
as st. andrews beach estates, the said subdivision
situated in the eastern district of New Providence,
Bahamas. located on the subject property is a structure
comprising of anapproximately ae old duplex.
Appraisal: $245,237.
Traveling east on yamacraw hill road take the third corner
right. with sign for st andrews beach estates, then take
first left, then first right, the subject property is the 2nd
property on the left side painted beige trimmed orange.



Lot No. 3 Yamacraw

Beach Estates
All that lot of land having an area of 10,000 sq ft, being lot
no. 3 in Yamacraw Beach Estates, in the said subdivision
situated in the eastern district of New Providence Bahamas.
Located on the subject property is a single-storey triplex
building comprising of 3 units with two 2-bedrooms, 1-
bathroom, living, dining, kitchen apartments unit and one
unit being used as a barber and beauty salon. the land is
on a grade and level; however the site appears to be
sufficiently elevated to disallow the possibility of flooding
during annual peat rainy periods of the year.
Appraisal: $313,016.00
Tra’ eling south on Fox Hill Road, ge ass Yamacraw
Hill Road and Joe Farrington Road. The subject property is located on the left hand side of Fox Hill road painted
white trimmed brown.



Eleuthera Island Shores Subdivision LOT NO. 1,
BLOCK NO. 45,
SHORES
All that piece parcel or lot of land having an area of
9,644 sq. ft. being lot #1 in block 45, Section “E” in
the subdivision called and known as Eleuthera Island
Shores Subdivision, situated in the vicinity of Hatchet
Bay Harbour, on the island of Eleuthera, one of the
islands of the Commonwealth of The Bahams. This
site encompasses a two storey building which is
approximately 14 yrs old and is abandoned. There is
a wooden landing approximately 7'-4” wide by 20'-
0” on the upper level, approximately 1,610 sq. ft. of
enclosed living space, with 3-bedrooms, 2-bathrooms,
front room, dining room, den, kitchen, and utility room. The wooden porch on the upper level is approximately 148sq.
ft. There is also a water cistern under the dining room floor area. All utilities and services available.
Appraisal: $151,007.00
This property is situated in Eleuthera Island Shores.

LOT NO. 1 WESTERN SHORES
All that lot of land having an area of 7,389 sq. ft., being
lot #1 of the Subdivision known as Western Shores Phase
Il, the said Subdivision situated in the Western District of
New Providence, Bahamas. Located on the subject property
is a single structure comprising of a single family residence
consisting of approximately 2,430 oh of enclosed living
space. The residence comprises of 3-bedroom with closets,
2 1/2 bathrooms, living/dining rooms, study, kitchen, utility
room, porch and enclosed garage with electronic door. The
land appears to be sufficiently elevated to disallow the
possibility of flooding during annual heavy rainy periods
of the year. The grounds are fairly well kept with
improvements including driveway, walkway and swimming
pool. The yard is enclosed with walls.

Appraisal: $753,570.00
Traveling west on West Bay Street. Go pass Orange Hill and Indigo Subdivisions, the house is located on the left near
Tusculum Subdivision and painted all white.





(Lot No. 62, Lower Bogue) ELEUTHERA

| All that piece parcel or lot of land and improvements, in
‘) the settlement of Lower Bogue, North Eleuthera, being
No. 62, comprising of about 34,210 sq. ft., this site
encompasses a 12 year old single home comprising
of 4 bedrooms, 3 bathrooms, front room, dining, breakfast
room, kitchen and laundry room, with a total living area
of approximately 2,342.06. Property also includes a double
car garage, and front entrance with a total sq. ft. of
approximately 655.75. This home is approximately 85%
completed. The property is well landscaped with crab
grass, fiascos and some fruit trees.

Appraisal: $235,638.00
This property is situated on the western side of Eleuthera
Highway in the settlement of Lower Bogue.





DUNDAS TOWN (ABACO)
3 two bed, 1 bath fourplex 9,000 sq. ft., lot no. 18b with
an area for a small shop. Age 12 years the land is a portion
of one of the Dundas Town Crown Allotment parcels
stretching from Forest Drive to Front Street, being just
under a quarter acre in size and on the lowside. A concrete
block structure, with asphalt shingle roof and L-shape in

2,920 sq. ft., the interior walls are concrete blocks, ceiling
is sheet rock and the floors of vinyl tiles.
Appraisal: $265,225.00



LOT NO. 12, BLOCK 3, MILLAR’S HEIGHTS
All that lot of land having an area of 7,500 sq. ft., being lot
12, of the subdivision known and designated as Millar’s
eights, situated in the Southwestern district of New
Providence, Bahamas. This property is comprised of a 25
yr old single family residence consisting of approximately
2,375-sq. ft of enclosed living space with three 2-bedrooms,
1-bathroom, living/dining rooms, and kitchen apartment
complex. The land is on a grade and level and appear to
be sufficiently elevated to disallow the possibility of flooding
during annual heavy rainy periods. The grounds are fairly
kept, with improvements including parking area, walking
pathway and low shrubs. The yard is enclosed with chain linked fencing at the back and southern sides.
Appraisal: $239,500.00

Traveling west on Carmichael Road, enter West Avenue, on the South side immediately after Topps Laundromat. Take
first right which is Wimpole St., go around the curve on the left which is London Avenue, traveling south on London
Avenue the subject property is the 9th building on the right before the T, Junction (high street) the subject building is
an L shape triplex, painted green, trimmed white.



VACANT PROPERTIES

Lot No. 15, Block 10, Winton Heights
All that lot of vacant land having an area of 17,144 sq ft, of the subdivision known as Winton Heights situated
in gaan District of New Providence Bahamas. This property is rectangular in shape and zoned multi family
- single family. :
Appraisal: $171,440.00
This property is about 230ft West of Sassoon Drive and is about the third lot on the North Side of Hill Side Road.

Island Harbour Beach, Exuma

All that parcel or lot of vacant land containing 10,000 (80°X 100’) sq. ft. being Lot No. 9, Block 2, Island Harbour Beach
Subdivision situated the western most portion of the Hermitage Estate, Little Exuma Bahamas. The property is located
on an unpaved road known as Stocking Road. The property also has a commanding view of the ocean.

Appraisal: $80,000.00

MUTTON FISH POINT NORTH ELEUTHERA
All that piece, parcel or lot of vacant land containing 44,714 sq. ft., and designated “E” which forms a portion of land
known as “Mutton Fish Point” situated about two miles northwestward of the settlement of Gregory Town on the island
of Eleuthera, one of the islands of the Commonwealth of The Bahamas, and is bounded and abutting as follows:-
Northwardly by the land now or formerly the property of Coridon Limited, and running thereon for a distance of 393.13
hundredth ft.; outwardly by a 30’ wide road reservation and running thereon for a distance of 402.57 hundredth ft; eastwardly
by the main Queen's Highway and running thereon for a distance of 109.73 hundredth ft; westwardly by land now or
formerly the property of Caridon Limited and running thereon for a distance of 110.75 hundredth ft. this property having
an area of approximately 44,714 sq. ft. this neighbourhood is zoned commercial/residential development and is quiet,
peaceful and has a topography of approximately 2 ft. with all utilities and services available.
APPRAISAL: $51,421.00

MUTTON FISH POINT NORTH ELEUTHERA

All that piece, parcel or tract of land containing 1 acre situated about two miles northwestward of the settlement of Gregory

Town on the island of Eleuthera, one of the islands of the Commonwealth of The Bahamas, and is bounded and abutting

as follows:- Northwestwardly by the main Queens Highway and is running thereon for a distance of 125.462 feet
‘ northwestwardly by the land now of formerly the property of Coridon Limited, and running thereon for a distance of 390.274

hundredth ft.; southwestwardly by a 30’ wide road reservation and running thereon for a distance of 128.128 hundredth

ft; southeastwardly by the land now or formerly the property of the Venor and running thereon for a distance of 322.955

hundredth ft. This property having an area of approximately 44,847.76 sq. ft. This neighbourhood is zoned commercial

development and is quiet and peaceful with a topography of approximately 2 ft. with all utilities and services available.

APPRAISAL: $51,421.00
This lot is vacant land and is located in the area known as “Mutton Fish Point”











design with a total length of 70x26 ft, plus 50 x 22 ft., -





LOT NO. #7, BOILING HOLE SUBDIVISION
All that piece parcel or lot of land and inprovements situated
on the Island of Eleuthera, North of Governor’s Harbour,
comprising of Lot No. 7 in the Boiling Hole Subdivision and
comprising of approximately 10,000 sq. ft., this site
encompasses a 17 years old duplex with each unit consisting
of 2-bedrooms; 1 bathroom, frontroom, diningroom and kitchen
with a gross floor area of approximately 1,474.20 sq. ft. and
covered porch area of approximately 164.70 sq. ft. this duplex
was built in accordance with the plan and specification as
approved, and at a standard that was acceptable to the Ministry
Of Public Works. This structure is in good condition. Each apartment could be rented at $800.00 per month. The
land is landscaped and planted with ficus trees, but needs some manicuring.
APPRAISAL: $153,521.00

LOT NO. 1490 GOLDEN GATES SECTION 2
All that lot of land having an area of 6,000 sq. ft.
being lot no. 1490 of the subdivision known and
designated as Golden Gates, the said subdivision
situated in the southwestern district of New
Providence, bahamas. This property is comprised
of a 25 yer old single family residence consisting of
approximately 2,480 sq. ft. of enclosed living space
with three bedrooms, three bathrooms, living, dining
rooms and kitchen. The land is on a grade and level,
however the site appears to be sufficiently elevated
to disallow the posibility of flooding during annual heavy rainy periods of the year. The grounds are fairly kept, ith improvements
including driveway, walkway and low shrubs. Yard is enclosed on one side wth a 5 foot chain linked fencing and a low cement

block wall to the front.

Appraisal: $162,400.00
Traveling west on Carmichael Road turn left then right onto the service road opposite Bahamas Faith Ministries Complex, then
first left again after passing clico and pre-school. The subject house is the 6th house left painted green trimmed white.





Must Sell Lot No. 597
All that lot of land having an area of 3,200 sq ft, being lot 597
Melvern Road of the subdivision known as Yellow Elder Gardens,
the said subdivision is situated in the southern district of New
Providence Bahamas. This property is comprised of a 26 yr old
single family residence consisting of approximately 1,510 sq. ft
of enclosed living space, with 3-bedrooms including master bedroom,
2-bathrooms, living/dining room, kitchen and utility room. The
residence also consists of a front porch and two patios.

The land is on a grade and level; however the site appears to be
sufficiently elevated to disallow the possibility of flooding during
annual heavy rainy periods. The grounds are fairly kept, with
improvements including driveway and walkway. The yard is enclosed with chain linked fencing.

Appraisal: $133,395.00
Traveling west along Melvern Road from the sport center road, follow the road to the left. the subject property is the Sth property
left situated between Zris Court and Richie Court, painted White trimmed yellow.

HAMILTON’S, LONG ISLAND
All that piece parcel or lot of land and improvements situated
in the settlement of Hamilton's in the Island of Long Island,
and comprising of approximately 13,547 sq. ft. and is elevated
approximately 7-8 ft above sea level. This site encompasses
a 35yr structure. A simple style home consisting of two
bedrooms, one bathroom, kitchen, living and dining room.
the home however is consisted of 2 separate constructions;
613.60 sq. ft of concrete construction and 624 sq. ft of wooden
construction all amenities are to the property such as electricity,
water, cable and telephone.
Appraisal: $112,000.00.
The property is accessed by the main Queen's Highway.

KENNEDY SUBDIVISION (NASSAU)
Lot no. 21 all utilities available 10 year old single story
house, 3 bedroom 2 bathroom, living room, dining area,
family room, kitchen, study, laundry and an entry porch.
Appraisal: $188,406.00

Heading west along Soldier Road take main entrance to
Kennedy Subdivision on the left, then take the 1st corner
on the left then 1st right, house is second on your right
with garage. .



LOT NO. 382 WINTON MEADOWS
All that piece parcel or lot of land having an area of 8,300 sq. ft. being
lot No. 382 situated in the subdivision known as Winton Meadows, the
said subdivision situated in the Eastern District of the Island of New
Providence, Bahamas. This property is comprised of a 24 year old single
family residence with an attached efficiency (formerly the carport)
consisting of approximately 2,675 sq. ft. of enclosed living area, front
porch-198 sq. ft., back patio-380. The building is a two storey house.
Besides the efficiency apartment, the house is comprised of 3-bedrooms,
3-bathrooms, inclusive of a master bedroom suite upstairs. Foyer, front
room, dining room, family room, powder room, utility room, breakfast
nook and kitchen downstairs. Climate control is provided by ducted
central air conditioning, with air circulation enhanced by ceiling fans
and other amenities. Quality of construction: Average. Standard of
maintenance: Average. Effective age: seven years (7) the land is on flat terrain; however the site appears to be sufficiently elevated to
disallow the possibility of flooding under normal weather condition, including annual heavy rainy periods. The grounds are well kept,
with improvements including neatly maintained lawns with flowering trees, and a concrete garden/storage shed, which is located in the
backyard. The yard is enclosed along the sides with chain-link fencing, and concrete block walls that are topped with metal railings,

and metal gates at the front and back.

; APPRAISAL: $365,000.00
Traveling east on Prince Charles Drive, pass the streetlight at Fox Hill Road until you get to Meadows Boulevard, turn right onto Meadows
Boulevard, go south and take the 4th left, then 1st right. The subject house is the 2nd house on the left side painted beige trimmed white.

RAN



x NN
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SS







Investment Opportunity Must Sell Lot No. 217
Pinewood Gardens Subdivision
All that lot of land having an area of 5,000 sq ft, being Lot
No. 217 of the Subdivision known as Pinewood Gardens, the
said subdivision situated in the Southern District of New
Providence Bahamas. Located on this property is a structure
comprising of an approximately 20 yr old single family residence
consisting of 992 sq. ft of enclosed living space with 3-
bedrooms, 1-bathroom, living/dining rooms, kitchen, drive
way and walk way. The land is on a grade and level and
appears to be sufficiently elevated to disallow the possibility
of flooding. The grounds are fairly kept and yard is open.
Appraisal: $127,988.00 —.
. Traveling south on East Street to the junction of Soldier
Road, make a left at the light then turn right into Kennedy Subdivision, go all the way to T-junction, turn right then first
left then right again toward Mount Tabor Church building, after passing Mount Tabor take first left (sapodilla blvd), the
subject house is about 400 yards on the right painted yellow trimmed green, with green and white door.



Rainbow Subdivision Lot No. 3, Block 27
All that vacant lot of land having an area of approximately 14,052.59 sq. ft. being lot no. 3, block 27, section
b, of Rainbow Subdivision with residential zoning. This property is bounded about 103.44 ft north by Queens
Highway, and 137.02 ft. East and about 99.94, ft south of Rainbow Hill Circle. 139.91 ft West. All utilities and

services available.
Appraisal: $37, 440.00

Investment Opportunity - Must Sell
Lot No. 20, Block 1 unit 3 Fortune Point Subdivision all that lot of vacant land having an area of 12,650 sq ft,
being Lot No.20 block 1 unit 3 of the subdivision known and designated as fortune point subdivision Freeport,
Grand Bahama.. duplex property zoning with a rectangle shape.
Appraisal: $38,000.00

LOT NO. 10B, PALMETTO POINT
All that piece, parcel or lot of vacant land containing 9,000 sq. ft., and being Lot No. 10B situated North of Ingraham's
Pond and Eastwardly of North Palmetto Point, on the island of Eleuthera, one of the islands of the Commonwealth of the
Bahamas, and is bounded and abutting as follows:- on the north by Lot No. 3B and running thereon for a distance of (90)
ft; on the East by Lot No. 11B and running thereon for a distance of (100) ft; on the south by a 20’ wide road reservation
and running thereon (90) ft on the west by Lot No. 9B running thereon for a distance of (100) Ft, the said Lot is overgrown
with shrubs and is in close proximity of a white sandy beach. This neighborhood is zoned residential development and
is quiet and peaceful with a topography of approximately 50ft and because of this there is no danger of flooding. The area
is approximately 80% developed with all utilities and services available.
APPRAISAL: $72,000.00

MUTTON FISH POINT NORTH ELEUTHERA
All that piece, parcel or lot of vacant land and improvements containing approximately 44,587 sq. ft. and designated “F”
which forms a portion of land known as “Mutton Fish Point” situated about two miles northwestward of the settlement
of Gregory Town on the island of Eleuthera, one of the islands of the Commonwealth of The Bahamas, and bounded and
abutting as follows:- Northwardly by the land now or formerly the property of Coridon Limited, and running thereon for
a distance of 383.56 hundredth ft; southwardly by land now or formerly the property of Caridon Limited and running
thereon for a distance of 393-19 hundredth ft. eastwardly by the main Queen's Highway and running thereon for a distance
of 113.40 hundredth ft. westwardly by land now or formerly the property of Coridon Limited and running thereon for a
distance of 113.40 hundredth ft. this neighbourhood is zoned commercial/residential development and is quiet, peaceful
and has a topography of approximately 2 ft. with all utilities and services available.
APPRAISAL: $51,276.00

AMOR Rum OnuEL mel cla:
Philio White @ 502-3077 email philip. white@scotiabank.com or Harry Collie @ 502-3034 ¢ email harry.collie@scotiabank.com * Fax 356-3851

To view properties go to: www.stopnshopbahamas.com - Click on “Real Estate Mall” - Click on doorway “Enter Online Store”



A



REEL

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jand kitchen.

THE TRIBUNE , THURSDAY. JANUARY 31, 2008, PAGE 7B

INVESTMENT OPPORTUNITY







NEW PROVIDENCE

LOT #12 DAISY MANOR — Appraisal: $82,376.80)

Subject property contains 5,979 |
sq ft. Situated thereon is a 14
year old single family residence
containing 773 sq ft of enclosed
living space. This includes two
bedrooms, one bathroom, living
and dining rooms, kitchen and
utility room.
Directions: Travelling west on Boyd Road, turn into Franklyn Avenue, |
turn right at the T-junction, turn left at the second T junction, house is
the second property on the left white trimmed with burgandy.

FREEPORT

LOT No. 13, BLOCK KN, UNIT 1
BAHAMIA NORTH SUBDIVISION Appraisal: $40,000.00

The property has an area of 13,027 square feet or .30 of an acre.

NEW PROVIDENCE

SANDYPORT Appraisal: $300,000.00
All that lot of land having an area of 9,626 square feet, being lot number 40,
of the subdivision known as SandyPort, situate in the Western District of
New Providence. The property is irregular in shape, is on a level grade and
zoned as single family residential. An electrical connection outlet is located
near the property. The property is located on Sandy Port Drive just on the
bend before Governor’s Cay on the Southern Side of the road.






















SRMOSCSSHHSHSCSSCHSHHRSHCSOSCHHHDOEES

No. 17 WESTRIDGE ESTATES Appraisal: $930,000.00








All that lot of land having an
area of 30000 square feet,
being lot Number 17 of the
. subdivision known as
Westridge Estates Addition.
“ Situate in the Western District
“on the island of New
Providence.
< Located on the — subject
“property is a newly
QA AAA \S MINN ‘ constructed single story
feet of living space with a three Car Garagestructure comprising 6,000
The building is 75% completed and comprises five bedrooms, four and a
half baths study, living/dining, family room, kitchen, laundry and generator
room.
Location: From SuperValue West Bay, take the road heading west into
Westridge, take the first corner on the Right, Westridge Drive. Subject
property will be about the seventh on the right hand side of the road.

SRISSARTSASSSHSHOSHASSHTHOSROEREREE

LOT #18 BLOCK #27 VENICE BAY Appraisal $383,855.00







GREENING GLADE SUBDIVISION Appraisal: $75,000.00

All that piece parcel and lot of land described as lot 7 block 21, Albacore
Drive, Victoria Place and Mid Chipman Road, Unit 2, Greening Glade
Subdivision, Freeport, Grand Bahama. The lot contains 20,580 sq. ft.
and zoned as multi-family residential.








All that lot of land having an area of ~ s
12,225 square feet, being lot #18 Block rr
#27 of the subdivision known as Venice
Bay Annex, situate in the Western
District of New Providence. The
property is on a level grade and zoned
as multi family residential. Located on
the subject property is a cluster of ~
buildings comprising a completed unit |
at the front of the property, a middle —
section consisting two town houses WMKxv
about 80% completed and designated “~~ . Soa
units 3 and 4 and is the subject of this appraisal. This section has a square
footage of approximately 2,490 square feet and a porch of 200 square feet.

Directions: Take Carmichael Road heading West, turn onto Bacardi Road
heading South. Proceed past Millers Pond. Just before reaching Bacardi, turn
Right onto paved road just past the pond. Subject is located on the Right

LOT No. 20, BLOCK 1, UNIT 3
FORTUNE POINT SUBDIVISION Appraisal: $38,000.00

All that lot of vacant land having an area of 12,650 sq. ft. being lot No.
20, Block 1 Unit 3 of the Subdivision known and designated as Fortune
Point Subdivision, Freeport, Grand Bahama. Duplex property zoning with
a rectangle shape.








LINCOLN GREEN, CANEBY CLOSE Appraisal: $38,500.00

Unit 5, Block 17, Lot #48 — Single family residence, Clearwater Close.
Located on fresh water canal. Approximately 17,404 sq. ft.




hand side of the road. LOT No. 37 BLOCK 33

wowevecvoeooeavesocanvesoesvense CHURCHILL COURT, BAHAMIA MARINA
LOT No. 17 ALLEN’S DRIVE | : eee eae nee - eiaepaisall $337,000.00
CARMICHAEL ROAD Appraisal: $171,000.00 ipeaoeete eee - 1 ocean

&

x ti) 1 =
1s if AT




The subject property is .
developed with a duplex
building consisting of
approxi-mately 1,512
square feet of enclosed *
living space which |
includes, two - 2



bedrooms and 1 § \ Ww
bathroom, | kitchen, | SS wr :
living/dining room | All that lot of land having an area of 16,533 sq. ft. being lot No. 37 of the

apartment.Ventilation is subdivision known and designated as Bahamia Marina and Bahamia Section 4
by walled units air- ART ATG Subdivision, Freeport, Grand Bahama. Located on this property is a structure
condition units located in the bedrooms. comprising a 3 year old duplex structure which covers approximately (3,058)
Directions to property: Take the corner North of Golden Gates Assembly, | square feet. Apartment consisting of two 2-bedrooms, 2-bathroom with private

Allen’s Drive, follow the bend. The subject property is on the right shortly Jacuzzi in master bath, spacious living and dining room, full service kitchen, a
after passing the bend, aquamarine trimmed deep green. laundry and utility room, foyer/hallway with linen and storage closet. The
property is fully secured by six foot plastic coated chain-link fence runs along}



woeeecenccsccevesvesevenvosccees the side and rear and adjoins the painted 4 foot wall, with 5 foot pillars at
“iy front with electronic gate.
WINTON MEADOWS LOT 248 Appraisal: $264,000.00 cs Ura Nth NA Bice tot bs



of approximately 8,179 square
‘feet, being lot 248 of the : ~~
subdivision known as Winton
Meadows. Located thereon is a
single storey, single family
residence of approximately 1,378
square feet of enclosed living
space with three bedrooms, two
ce =<“ bathrooms, living and _ dining
rooms and kitchen. Ventillation is by central air-conditioning and ceiling
fans.

Directions: Take Yamacraw Hill Road, to corner that takes you into

Winton Meadows, make first left, subject property is second on left - . .
side, painted lavender trimmed white. Apartment 402, 2 bedrooms, 2 bathrooms.

wi eobavessiuuesdisvesatacsenagns Lot 4, Block GN, Edward Birch Curt, Bahamian North

GERALD BARTLETTE ESTATES Appraisal: $129,000.00 saseneenecncenscnsenccnsenensess
LOT 21 - OFF COWPEN ROAD LOT 188 SCOTT AVE, EAST SECTION 1 SUBDIVISION,

All that lot of land having an area FREEPORT, GRAND BAHAMA Appraisal: $140,000.00

of 4,875 square feet being lot 21 of 7 The subject lot is

the subdivision known as Gerald ‘
Bartlette Estates. Located on this approximately 12,322 square
property is a structure comprising feet. Situated on _ this
a 6-year-old single family residence property is a single story
of approximately 1,004 square feet single family dwelling of
of enclosed living space with two 2,800 square feet of living
bedrooms, two bathrooms, living, space. This includes a small
utility, dining rooms and kitchen. front porch, a large foyer, a
Directions: Travelling South on sunken living room with
Baillou Hill Rd., turn Right onto Cowpen Rd. at the traffic light. Proceed West. fireplace and chimney, a
Take the second corner on the Right (Gerald Bartlette Subdivision). Subject . dining area, a_ full service

kitchen, a family room with

property is the third below the hill, painted white trimmed green. w “AS CQ WK
t ae ~~ adjoining laundry and

storage room. A hallway with linen closets, a hallway bathroom. Three

of auuronimately ‘S17S, square | FAIRWAY MANOR CONDOMINIUM Appraisal: $73,000.00














\



FAITH AVENUE & CARMICHAEL ROAD auxillary bedrooms with closets and a master bedroom with walk-in

LOT 1B - Appraisal: $286,000.00 closet and private bathroom.
The property is located near the
Faith Avenue and Carmichael Road
junction.

The neighbourhood consists of
Single Family, MultiFamily, and
Commercial Business. Located
thereon is an 18 year old single
family dwelling consisting three
bedrooms, two bathrooms, living, ;
dining, utility and storage rooms










Click On “Rea

“Enter O

FOR CONDITIONS OF SALE AND ANY OTHER INFORMATION CONTACT:
HARRY COLLIE @ 502-3034 — E-mail harry.collie@scotiabank.com or











PHILIP WHITE @ 502-3077 — E-mail philipwhite@scotiabank.com
talents 356-3851 - send bids to P. O. Box N-7518 Rosetta Street, Nagsau, Bahamas ..

\








PAGE 8B, THURSDAY, JANUARY 31, 2008

Earn a Bachelor



in

Hotel or Tourism Management



University of the West Indies,
Centre for Hotel and Tourism Management (CHTM)
Telephone: (242) 323-5714 or (242) 356-0659

SPECIFICATIONS/PRE-REQUISTE

Top-quality education, at an affordable price (low tuition)
Has an Associate degree with a grade point average of 2.5
Can attend evening classes twice weekly

Part-time students complete a Bachelors degreee ina
minimum of three years

nformationmeetingon
| stJanuary}2008

redit will be granted for;






\,

Science degrees.
ull-time or,a:part-time basis
~~

ROTARY INTERNATIONAL,
DISTRICT 7020



APPLICANTS WANTED
FOR GROUP STUDY EXCHANGE
TO ARIZONA, USA

Group Study Exchange is a Rotary Foundation sponsored program, the
purpose of which is to promote international understanding and goodwill
through person-to-person contact. The GSE teams are made up of 5 persons,
the leader of which is an experienced Rotarian.

District 7020, which includes The Bahamas, is pairing with Rotary 5490
District in Arizona, which includes Phoenix, London Bridge and The Grand
Canyon for a four-week visit during May & June (specific dates to be
determined). While abroad, team members have the opportunity to meet
their counterparts in their respective vocations, tour various businesses and
attractions and give presentations to Rotary Clubs and others about their
home country and sponsoring Rotary District.

The Rotary Foundation provides round trip airfare and local Rotarians in
the host District (i.e. Arizona) provide lodging, meals and transportation.
Team members pay for personal and incidental expenses only. All other
costs are covered by Rotary.

Individuals interested in applying for the four team member spaces should
be employed full time for at least two years in a recognized business or
profession and between the ages of 25 and 40 years. Applicants must be
citizens of The Bahamas and make themselves available for personal
interviews. Applications must be submitted by February 5 through one of
the Nassau Rotary Clubs or by contacting one of the following committee
members, who can also provide additional information:

Murray Forde Tel/fax: 393-1892 e-mail: forde@batelnet.bs
Patrick Rollins Tel: 325-9663 e-mail: pdrollins@batelnet.bs
Dr. Bridgette Rolle Tel: 424-3778 e-mail: bridgetterolle@yahoo.com

“~



of Science Degree






THE TRIBUNE

ea ee aE he ee a a
Court backs $50m
fund’s liquidation

FROM page 1B

lator, the Autorite des marches
financiers (AMF), announced

- yesterday that it had worked

with the Securities Commission
of the Bahamas in applying suc-
cessfully to the Supreme Court
for the winding-up of the
Bahamas-domiciled Ivest Fund
Ltd.

The Tribune understands that
the joint liquidators are former
Ernst & Young partner, Maria
Ferrere, who now heads her
own firm, FT. Consultants, with
former KPMG executive Ali-
son Treco, and Canadian
accountant, Jean Robillard of
Raymond Chabot Grant Thorn-
ton.

The AMF said: “Further to
co-operation between the Secu-
rities Commission of the
Bahamas and the AMF, the
Supreme Court of the Bahamas
handed down a decision on Jan-
uary 25, 2008, for the winding-
up of Ivest Fund Ltd, and
appointed Jean Robillard of
Raymond Chabot Grant Thorn-
ton as co-liquidator.”

The Tribune revealed the
problems with the Ivest Fund,
the latest potential investment
fund scandal to hit the
Bahamas, late last year. The
Bahamian fund was the chief
entity through which Montre-
al-based Triglobal Capital Man-

’ agement funnelled and placed

millions of dollars in retail
investor monies.

A provisional administrator
for Triglobal was appointed on
December 20, 2007, following
a request from the AMF.

The AMF said an investiga-
tion into Triglobal had raised
concerns that the company had
been making “illegal invest-
ments in tax havens” through
the Bahamas-domiciled Ivest
Fund and Focus Management,
an investment vehicle registered
in the Cayman Islands.

In its action against Triglobal,
the AMF alleged that it
appeared as if Ivest’s external
auditors “would have refused
to approve the financial state-
ments of Ivest because they
were incapable of validating
where the funds, having served
to finance a loan from Ivest to
Focus for an amount of $20 mil-
lion (40 per cent of the assets of
Ivest) had come from”.

The Ivest Fund’s auditors are

understood to have been.

Gomez Partners & Co, while a
check of the Securities Com-
mission’s website listed Ivest’s
last fund administrator as Gen-
esis Fund Services. Neither has
done anything wrong in rela-
tion to the Ivest saga.
According to the AMF peti-
tion, Ivest’s registered address is
the British Colonial Centre of

NEW |

Commerce, One Bay Street,
Suite 400, PO Box N-3935 in
downtown Nassau.

Inquiries by The Tribune
revealed that Genesis Fund Ser-
vices has resigned as Ivest’s _
administrator This left Ivest
operating without a Bahamas-
based fund administrator,
meaning that it was effectively
breaching the Investment Funds
Act 2003 and operating illegal-
ly.

This allowed the Securities
Commission to seek a receiv-
er/liquidator for Ivest.

The AMF said its investiga-
tion into Triglobal revealed that
between 1997-2007, the compa-
ny solicited Quebec residents
through agents, representatives
and its own officers to invest in
Ivest and Focus.

The principal amount invest-
ed varied from $10,000 to
$350,000, but the AMF alleged
that investors had recently
found it difficult or been unable
to recover their money, that the
investments were “illegal”, and
that Triglobal was not regis-
tered as a broker/dealer.

In addition, the AMF alleged
that Triglobal and its officers
had attempted to hinder the
investigation, appointing the
provisional administrator on
December 24, 2007, to take con-
trol of the company and pre-
serve its assets.

The Counselling House (TCH)

Individual neTeDY

Child Behavior Therapy
Se be prose Evaluations
Sc

ool Anger Control Therapy

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Depression | Anxiety
Work Stress Therapy

Juvenlie Delinquency Therapy

Psycho -Forensic (Courts) Evaluations
Marilyn Lightbourn, MSW; ACSW;CAPP

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East Ave. Centerville

Adell House (Behind Centerville Food Store)

Email: 2_mlo@bellsouth. net

P.O. Box N-9149

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Days & Time:

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February 23, 2008

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THE TRIBUNE



THURSDAY, JANUARY 31, 2008, PAGE 9B

MM [Li ee ee

PM hits back on

Bill consultat

‘mg By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

PRIME Minister Hubert
Ingraham yesterday denied that
the Government did not con-
sult with the financial industry
when seeking to ammend the
Central Bank of the Bahamas
Act and the Banks and Trust
Companies Regulation Act.

Speaking in Parliament, Mr
Ingraham said the assertions
made by Fort Charlotte MP,
- Alfred Sears, and St Thomas
Moore MP, Frank Smith, were
“absolutely incorrect” as there
was extensive consultation on
both bills.

Mr Ingraham explained that
the Central Bank maintains an
open and constructive dialogue
with its licensees and industry
stakeholders, with public con-
sultation being the mode of
operation for the Central Bank
and other financial sector regu-
lations.

He added that the Central
Bank released its public con-
sultation paper on the proposal
for it to assume responsibilty
for the regulation and supervi-
sion of standalone money trans-
mission businesses on Feburary
27, 2007. It was posted on its
website ,and stakeholders were
further advised by e-mail that
the release had been posted.

The deadline for recieving
comments was set at March 30,
2007, Mr Ingraham said. After
the consultation period, he said
a meeting was held for indus-
try stakeholders on July 5, 2007,
where a summary document



NO orn

ama aM een

was presented. It was after this
process, he said, that the Cen-
tral Bank finalised its propos-
als and submitted them for gov-
ernment’s consideration.

Mr Ingraham also addressed
Mr Smith’s assertion that the
Bills would facilitate money
laudering.

“Again, this is absolutely

incorrect and displays a com-

plete and utter lack of knowl-

\
Special |
Discount for
Weddings &
Funerals




. Bank...






Of)



edge about the Anti-Money
Laundering/combating the
Financing of Terrorism regula-
tory regime ( AML/CFT) now
in place throughout much of the
financial world,” the Prime
Minister said.

He explained that the super-
vision and regulation of the
Money Transmission Business
had taken up the time and
resources of no less than three
financial sector regulators.

The Prime Minister said the
proposed legislation was intend-
ed to rationlise and simplify this
by placing it under the regula-
tory authority of the Central

“Far from facilitating money.
laundering, the Bills now before.
this House will do just the:oppo-'
site - they will frustrate efforts
to launder money through mon-
ey transmission businesses,” he
added.



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Candidate must possess the following minimum qualifications and experience
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A Bachelor of Science Degree in Civil Engineering with a minimum of Five
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RESPONSIBILITIES:
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Supervision of All Civil Engineering projects including: Phase V
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THE TRIBUNE

THURSDAY, JANUARY 31, 2008, PAGE 11B



Key Senator
acks jobless
aid as part of

m@ By ANDREW TAYLOR

Associated Press Writer

WASHINGTON (AP) —
A key Senate Republican
Wednesday swung behind a
bill to provide help to seniors
living on Social Security and
the unemployed as part of
the economic stimulus plan
that passed the House.

Sen. Charles Grassley of
lowa, top Republican on the
Finance Committee, said
Wednesday morning he will
support a bill by panel Chair-
man Max Baucus, D-Mont.,
that would pump $196 billion
into the economy over the
next two years.

The committee was to vote
on the bill later Wednesday
and the measure was expect-
ed to reach the floor prompt-
ly. “It’s going to be presented
as a bipartisan (bill),” Grass-
ley said.

The Finance Committee

chairman backs a proposal to.

add $35 billion to a House
bill passed on Tuesday to
include senior citizens and
the unemployed. It would
shrink the rebate to $500 for
individuals and $1,000 for
couples. It also would deliver
checks even to the richest
taxpayers, who are disquali-
fied under the House-passed
measure.

Grassley’s steps represent-
ed-a break with President

TABLECLOTHS
- THROW PILLOWS

Bush and Senate GOP
Leader Mitch McConnell, R-
Ky., who have called upon
the Senate to simply pass the
House-passed stimulus mea-
sure.

But Grassley told lowa
reporters that he believed the
Senate would act quickly on
the measure and that he and ,
Baucus would team up to try
to block further amendments
to the bill.

“If Baucus and I can work
together, we can keep
amendments down, keep it
from becoming a Christmas
tree,” Grassley said.

White House deputy press
secretary Tony Fratto, travel-
ing on Air Force One to Cali-
fornia with President Bush
Wednesday, said the disap-
pointing fourth quarter
growth rate should give the
Senate greater urgency to
pass the bill.

“We'd like to see some
leadership that will encour-
age members to put away
some of their pet ideas and
think about the bigger pic-
ture,” Fratto said.

He added that he does not
personally support $14 billion
in additional unemployment
insurance for workers whose
benefits have run out, but
that he is willing to go along
in exchange for Democratic
concessions such as eliminat-
ing a provision that would

$150bn stimulus

phase out rebates for individ-
uals and couples making
more than $75,000-$150,000.

Grassley also praised the
measure for giving rebate
checks to 20 million senior
citizens living on Social Secu-
rity. The House measure
would leave out many seniors
unless they earn a paycheck
or pay income taxes on their
non-Social Security income.

Baucus’ measure also
extends unemployment pay-
ments for 13 weeks for those
whose benefits have run out,
with 26 more weeks available
in states with a 6.5 percent
jobless rate or higher. His ini-
tial proposal would have pro-
vided the longer extension
for any state whose unem-
ployment rate exceeded 6
percent, but the trigger was
raised to control the cost of
the package.

Only Alaska, Michigan,
Mississippi and South Caroli-
na have jobless rates of 6.5
percent or more.

The Senate plan would
restore a business tax break
dropped during the House
negotiations that would per-
mit corporations suffering
losses now to reclaim taxes
previously paid.

Both packages include
roughly $50 billion worth of
tax incentives for businesses
to invest in new plants and
equipment.

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lll

FROM page 1B

partnership: “It means good
things for us.

“The benefits are obvious.
Clipper has tremendous oper-
ational experience, they have
tremendous reach and access to
the resources that are needed
to make a ferry business suc-
cessful, coupled with their
desire to be a part of a grow-
ing company. I think there are
tremendous benefits to it.

“These are the key areas that,
when we looked at bringing
them on as a strategic partner,
were where are needs were. We
thought they were the best fit
for us. We’re very excited about
it.”

Mr Rolle added that “part of
the package” the Clipper Group
was likely to “bring to the
table” would be to provide the
Bahamian company’s staff,
which is around 100 strong, with
the opportunity to gain train-
ing and operational experience
in its extensive global network.

Mr Rolle said: “One of the
things that has hampered us
over the years is that we are
learning as we go along.”

While there was no shortage
of global maritime colleges and
educational institutions, “there
is nothing like béing involved





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PAGE 12B, THURSDAY, JANUARY 31, 2008

[SE ee aE TOS TRE ISS Sa a

Clipper completes 28.72%
Bahamas Ferries stake deal

in a first class operation and
seeing what goes on there”.

Clipper Group already owns
Seatruck Ferries, a roll-on/roll-
off ferry service that services
the Irish sea market, and has
taken control of two Danish
companies involved in that
country’s inter-island ferry
transportation business.

The stake it has acquired in
Bahamas Ferries is a significant
minority one, indicating that
Clipper Group does not intend
to be a passive investor and is
likely to be active in both man-
agement and Board affairs.

The Tribune revealed the
deal between Clipper Group
and Bahamas Ferries in its 2007
New Year’s Eve edition.
Among the regulators that had
to approve the share purchase,
because the Clipper Group is a
foreign-owned entity, were the
Central Bank of the Bahamas
on exchange control approval,
and the National Economic
Council (NEC), which is really
the Cabinet.

In commenting on the deal
previously, Craig Symonette,
Bahamas Ferries’ chairman,
said: “The challenge we have in
this business is the rising cost
of fuel and the high cost of
maintenance and financing,
which will continue to hamper
our growth.”

Mr Rolle yesterday agreed
that fuel costs were a “major
factor” for Bahamas Ferries,
pointing out that when the com-
pany first started operating in
1999, the company was paying
just under $1 per gallon for
diesel fuel for its vessels. The
price had since risen to its cur-

ANNOUNCEMENT

Small local ad agency requires the services of:
1. Full Time Marketing Assistants

To assist marketing consultant in the day to day marketing
for advertising for clients

e 3-5 yrs experience

¢ College qualifications - A plus

° Self starter & able to work on your own

° Computer literate & writing skills * a must
¢ Out going personality

° Organizational skills

¢ Quickbooks knowledge

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Illustrator, Quark, Photoshop, Pagemaker, Flash And
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e Web Design (Minimal)
¢ Computer Repair Skills

LENNOX PATON COUNSEL and
“a ATTORNEYS-AT-LAW

effective January 1, 2008 is pleased
to welcome as a Partner

Mr. Arthur Seligman

Mr. Seligman will be working with
the Firm’s Private Client Group
and will lead the Trusts and Estates
—__.._..___ Department—-——--------—-

rent level of just below $5 per
gallon.

“That is a heavy, heavy cost
to bear for us,” Mr Rolle added.
He explained that Bahamas
Ferries was “looking at ways of
becoming more efficient”, and
one method had been to pur-
chase more efficient engines for
the Bo Hengy replacement due
to be delivered in mid-to-late
2008.

The current Bo Hengy’s
engines, Mr Rolle added, were
“fast engines” that had a high
fuel burn-up rate, something its
replacement would not have.
“This should allow us to as best
we can, hold prices,” Mr Rolle
added.

The ‘replacement vessel, he
said, will be called the Bo
Hengy II, “In looking at the
market value we have built-up
in the Bo Hengy, it’s just natur-
al to have selected that name,”
Mr Rolle added. “It’s part of
our brand.”

The Bo Hengy IIT name was
chosen after a naming competi-
tion, and Mr Rolle said the new
vessel would have an enhanced
level of amenities and passenger
comfort.

Detailing another benefit
from its strategic partnership,
Mr Rolle added: “In the past,
we’ve had some operational
challenges, particularly with the
preventative maintenance part
of maintaining the Bo Hengy
vessel.

“With the knowledge Clip-
per brings to our business and
marketplace, some of the things
encountered in the past we
should be able to pre-diagnose,
and keep the vessels running

THE TRIBUNE



on-time and on-schedule with
minimal impact because of
maintenance issues.” |

He said: “In terms of new
amenities and service quality,
Clipper operates in very sophis-
ticated markets, and has access
to up-to-date technology. We’re
going to see how best and prac-
tical it is to deploy this technol-
ogy in this marketplace.”

Bahamas Ferries operates
the Bo Hengy, Seawind and
Sealink. Apart from the Har-
bour Island and Eleuthera
route, the company’s vessels
also serve Fresh Creek and
Morgan’s Bluff in Andros,
Sandypoint in Abaco, The
Current, and Exuma.

Clipper Group, whose origins
can be traced back to 1972,
operates around 250 vessels
globally, owning some 100 of
those itself.

The company moved its cor-
porate head office to Nassau in
1997, about a decade ago, its
website describing Clipper
Group as having established
“strong and close links to the
Bahamian authorities”. The vast
majority of Clipper’s vessels fly
the Bahamian flag, and are reg-
istered on the Bahamas. Ship
Registry.

Clipper Group is headed by
its chairman and chief execu-
tive, Torben Jensen, who is also -
a permanent resident of the
Bahamas. Fleet operations are
managed from Denmark, and
the company has expanded
rapidly in recent years, embark-
ing on an extensive vessel new-
building programme as,jt shift-
ed from being a ship operator to
a ship owner. 5

st

TEACHING VACANCIES:

The Anglican Central Education Authority invites
applications from qualified Teachers for positions
available at St John’s College, St Anne’s School
and Bishop Michael Eldon School in Freeport an

St Andrew’s in Exuma.

PRIMARY - ALL LEVELS

SECONDARY - ALL SUBJECTS

Only qualified Teachers, with Bachelor or Master
--Degrees-from-an-accredited-University-or College—
and Teaching Certificate need apply.

For further details and application form, please
contact the Anglican Central Education Authority

Email resumes immediately to pr@ccmbahamas.com
on Sands Road at telephone (242) 322-3015/6/7.

y Fort Nassau Centre, Marlborough Street


P.O. Box N-4875, Nassau, Bahamas

Tel: (242)502-5000 ~ Fax: (242)328-0566 Letters of application and/or completed application

forms with copies of required documents must be
sent by Friday, February 29th, 2008 to the Anglican
Education Department addressed to:-

Applicants welcomed to small, informal, friendly work
environment. salary commensurate with qualifications
and experience.

The Director of Education
Anglican Central Education Authority
P.O. Box N-656
Nassau, Bahamas

Pricing Information As Of:
Wednesday, 30 January 2008
LEE
Previous Close Today's Close Change
Abaco Markets
Bahamas Property Fund
Bank of Bahamas
Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings
Commonwealth Bank (S1)
Consolidated Water BDRs
Doctor's Hospital
Famguard
Finco
FirstCaribbean
Focol (S)
Freeport Concrete
ICD Utilities
J. S. Johnson
10.00

120,000

2,000

sense sal
LE
52wk-Low
14.25 Bahamas Supermarkets
6.00 Caribbean Crossings (Pref)
; 0.20 RND Holdings
: o
Wb CHIE
41.00 ABDAB
14.00 Bahamas Supermarkets
0.40 RND Holdings

Last Price Weekly Vol.

1.376507"
3.7969**
3.00076**

Colina Money Market Fund
Fidelity Bahamas G & | Fund
Colina MSI Preferred Fund
Colina Bond Fund 1.291985**
Fidelity Prime Income Fund é 11.8192***
| - 2 = 1,000.00 YIEL 8 divided by clos:
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 fidality
Previous Close ~- Previous day's weighted price for daily volume Last Price - Last traded over-the-counter price
Today's Close - Current day's weighted price for daily volume Weekly Vol. - Trading volume of the prior week
Change - Change in closing price from day to day
Daily Vol. - Number of total shares traded today
DIV § - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month earnings
(S) - 4-for-1 ack Split - Effective Date 8/8/2007

tock

NAV - Net Asset Value
N/M - Not Meaningful





ay SAKE
fo 0% Kh

Div$ PI Yield

*. 18 January 2008
** ~ 31 December 2007
*** 31 October 2007

EPS $ - Acompany's reported earnings per share for the last 12 mths

FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

EMPLOYMENT OPPORTUNITY |
For Supervisor

Candidates should possess the following:

- Should be at least 27 years of age or older
- Good Customer Service skills are essential

- Pleasant Attitude

- Experience in restaurant business is helpful
- Own Transportation a plus
- Ability to operate on own initiative

- Team Player

You may fill out an application form at TOBY. Village
Road or Carmichael Road or mail resumes to: |

TOBY.

P.O. Box EE-15066
Nassau, Bahamas
or send via fax to 364-1309





THE TRIBUNE

THURSDAY, JANUARY 31, 2008, PAGE 13B







S to write

off $14bn

@ By DAVID JOLLY
c.2008 New York Times
News Service

PARIS — UBS, the largest -

Swiss bank, said Wednesday
that it would write off $14 bil-
lion in losses on the troubled
U.S. housing market and post
a net loss for 2007.

The write-offs will result in a
record fourth-quarter net loss
of approximately 12.5 billion
Swiss francs, or $11.4 billion,
the bank said in a preliminary
earnings statement. It also said
it expected to report a full-year
net loss of 4.4 billion francs for
2007.

The numbers “include
around $12 billion in losses on
positions related to the US.
subprime mortgage market and
approximately $2 billion on oth-
er positions related to the U.S.
residential mortgage market,”
the bank said.

UBS said Dec. 10 that it was
writing’ off $10 billion of sub-
prime’ investments for the
fourth quarter, so the numbers
Wednesday represented $4 bil-
lion more in losses than it had
previously disclosed.

“Once again this is a nega-
tive surprise,” said Andreas
Weese, a banking analyst at
UniCredit in Munich, Germany.
“T had assumed additional loss-
es, but not of this magnitude.”

The bank had already
announced a $4.4 billion loss on
subprime investments in the

third ‘quarter. The figures’

Wednesday bring its 2007 U.S.
- residential mortgage-related
’ losses to $18.4 billion.

Weese said the bank had not
provided much detail, but he
theorized that the downgrades
of “monoline” bond insurers in
the United States had weighed
on the results.

Because the values of U.S.
mortgage securities have con-
tinued to deteriorate, there

could still be more write-offs to
come in the first quarter of
2008, Weese said.

UBS shares in Zurich slipped
64 centimes, or 1.3 percent, to
46.12 francs.

The UBS chairman, Marcel
Ospel, has come under fire from
investors for the recent losses
and for plans to raise billions
of dollars in capital from
investors in the Middle East and
the Government of Singapore
Investment Corp.

Influential Swiss investors,
including Dominique Bieder-
mann, director of the Ethos
Investment Foundation, which
manages money for the Swiss
public pension funds, has called
for an independent audit of the
bank’s accounts and for share-
holders to elect a new chairman.
Ospel’s tenure as chairman is
set to end in April, but he must
face shareholders at a special

meeting scheduled for next
month to approve the funding

plans.

The bank, formed through a
merger of Union Bank of
Switzerland and Swiss Bank
Corp. in June 1998, had never
reported an annual net loss

before, said Christoph Meier, a

UBS spokesman.

Banks worldwide have
announced more than $135 bil-
lion in credit losses and write-
downs since the turmoil in the
USS. housing market started last
year, and some analysts esti-
mate that total write-downs
could reach $800 billion.

UBS said it would provide
further details on its financial
performance on Feb. 14, when it
publishes its final full-year and
fourth quarter 2007 results.

The bank also said it had tak-
en efforts to strengthen its cap-
ital base in the last quarter.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, STEPHEN OLIVER of the
Settlement of Mastic Point on the Island of Andros one of

the Islands of The Commonwealth of The Bahamas, intend
to change my name to STEPHEN ROLLE, If there are any
‘objections to this change of name by Deed Poll, you may
write such objections to the Chief Passport Officer, PO. Box
N-742, Nassau, Bahamas no later than thirty (30) cays after

the date of publication of this notice,



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Associates degree, or Institute of Financial Services Certificate,
and five (5) years of banking experience
In-depth knowledge of general bank policies, procedures and bank
services to appropriately direct and service customers.
Knowledge of specific governmental and banking laws, regarding
improper practices such as money laundering.
Knowledge of credit policies to process loan applications.
In-depth knowledge of customer services and the ability to
demonstrate duties to other persons in the branch.

Basic supervisory and management skills to counsel and direct
associates in performance and other matters.
Strong oral and written communication skills to interact with
customers and associates.

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

ON MOST CARS & TRUCKS
OIL CHANGE INCLUDES: SERVICE CHECK

New Car warranty Fan Belts
Fram Oil Filter Air Filter
Lube to Mfg.Specifications [7] Crank Case Breather
Up to 5 Qts.of Oil C.V. Joint Axle Boots
Differential Oil Level
Transmission Fluid Level

Interested per: ater than February sth to:
[7] Transfer case Fluid Level persons should apply no later than February 1 2008 to

[“] Brake Fluid Level

Power Steering Fluid Level
Battery Condition (External)
[Â¥]Windshield Washer Level

c/o The Tribune
DA#04604
P.O. Box N-3207
Nassau, Bahamas









PAGE 14B, THURSDAY, JANUARY 31, 2008

THE TRIBUNE



Rum Cay developer

‘finishing off’ finance

Mercedes Benz CLS
Limited Edition
Fully Loaded; only 7000 miles

driven in Lyford Cay
JustLike New! ‘

asking: $110,000

great deal for an executive!!!!



UBS (Bahamas) Limited is seeking a suitably
qualified individual to join our growing and
dynamic team as a:

Data and Document
Management Specialist

The main duties of this position are:.

e Review of client KYC and related account
opening documentation
e Account opening and maintenance

e Addressing client advisors’ requests.and. ..

queries
e Handling client correspondence

Candidates must possess:

e Strong organizational and analytical skills

e Broad knowledge of “know your
customer” laws and regulation
requirements

¢ High level of self-motivation and ability
to work independently

e Attention to detail, accuracy and
commitment to service excellence

e Proficient in MS Office Applications

e Associates degree or above in Business

Administration, Accounting or related field

Prior experience performing similar duties in
a private bank or trust company is an asset.

_Please send your written application by
February 8, 2008 to: .

hrbahamas@ubs.com
or
-UBS (Bahamas) Ltd.
Human Resources
P.O. Box N-7757
Nassau, Bahamas
Attn: Private Client Document Specialist

Storewide

*

ay

FROM page1B

that Bobby Little has built up
over the years. It [Sumner Point
Marina] will be very successful.
It’s a nice platform for the
development of the southern
coast land that Montana owns,
both at Sumner Point and the
897-acre site.

“It’s coupled with a more
challenging environment, but at
the same time will be successful.

We have the ability to go
through with the Sumner Point
development, the beachfront
lots and roll into the next phase
of the development. We’ve got
the financing, and got more
investors coming to make it
quite good for the future.”
Montana Holdings had pre-
viously received permission
from the relevant government
authorities, including the Civil
Aviation Department and Min-
istry of Works, to construct a

NOTICE

NOTICE is hereby given that ALIOS PIERRE of SEA BREEZE,
NASSAU, BAHAMAS, is applying to the Minister resposible for
Nationality and Citizenship, for registration/naturalization as a
citizen of The Bahamas, and that any person who knows any

reason why registration/ naturalization should not be granted,
should send a written and signed statement of the facts within
twenty-eight days from the 31ST day of January, 2008 to the
Minister responsible for Nationality and Citizenship, P.O.Box N-
7147, Nassau, Bahamas.

Legal Notice

NOTICE

ERAWAN LTD.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act
2000, the dissolution of ERAWAN LTD. has been com-
pleted;:a: Certificate of Dissolution has been issued.and
“the:Gompany’ has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

GIGANTIC POSSIBILITIES LTD.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act
2000, the dissolution of GIGANTIC POSSIBILITIES
LTD. has been completed; a Certificate of Dissolution has
been issued and the Company has therefore been struck

off the Register.

ARGOSA CORP. INC.
(Liquidator)

new terminal building and .

extend the runway at Rum
Cay’s airport.

Mr Farrant said the develop-
er had not decided yet when to
commence with these projects,
but pledged that Montana
would “put in temporary facili-
ties with the intention, as our
Heads of Agreement says, of
building a new terminal in the
future, including accommoda-
tion for Customs and Immigra-
tion”. .

Montana Holdings earlier this
week told The Tribune that the
project’s progress has been
“severely impeded” by a series

- of “scurrilous attacks” mount-

ed against it, plus the “confu-
sion” caused by a rival hotel
development with a similar
name that appears to be claim-
ing land it already owns.

- within three weeks

Mr Farrant said the net
effect of these challenges had
been to deter potential
investors in both the company
itself and the residential, real
estate component of the devel-

' opment.

He added that another ele-
ment impacting Montana
Holdings’ project was the
“confusion” caused by a rival
project that has yet to be
approved by the Government.

That development, Rum
Cay Club, Marina and Spa,
had a similar name to Mon-
tana Holdings’ project, Mr Far-
rant said, and according to its
website was purporting to be
located on a site that was not
only next to his company’s
land, but also incorporated the
property on which Montana’s
marina resided.










NOTICE

NOTICE is hereby given that STEPHEN GODFREY DICKSON
of WEST BAY STREET, CB-12724, NASSAU, BAHAMAS,
is applying to the Minister resposible for Nationality and
Citizenship,. for registrationaturalization as a citizen of The
Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should send
a written and signed statement of the facts within twenty-eight
days from the 31ST day of January, 2008 to the Minister
responsible for Nationality and Citizenship, P.O.Box N- 7147,
Nassau, Bahamas. . ,

MANAGING EDITOR
‘WANTED:

THE TRIBUNE seeks a Managing Editor to add a new
chapter to this newspaper's continuing success story.






















Candidates will need to be seasoned journalists of
the highest calibre with relevant professional
qualifications and a proven track record in newspaper
management.





Superior editing skills, excellent command of the
English language, sound judgment and outstanding
writing ability are essential requirements for this
demanding position. You will also need to be totally
conversant with the Apple-Quark Xpress computer
editing system, with relevant page make-up expertise.






If you think you qualify, please send a covering letter
and resume, together with work samples, to The
Publisher, The Tribune, PO Box N-3207, Nassau,
Bahamas. ek











Please include references from past employers and
a short statement saying why you qualify for this post.




An attractive salary package, paid vacation and
company medical insurance scheme are on offer to
the successful candidate

No Phone Calls Please
Our benefits include paid vacation
& medical insurance.

- The Tribune

Nassau and Bahama Islands’ Leading Newspaper









Pre-invento





* Except on red tagged and net items

OFF Kelly's

Jan 26th - Feb 2nd, 2008

= ¢

WN
Qe

Wy LU sh | “
SAVE =
\

Houses
Home

Mall at Marathon
Monday-Friday 9:00am-8:00pm
Saturday 9:00am-9:00pm
Sunday fel fersc)
www.kellysbahamas.com

Tel: (242) 393.4002
Fax: (242) 393-4096





THE TRIBUNE



THURSDAY, JANUARY 31, 2008, PAGE 158





US economy close to



zero growth in 2007 Q4

m@ By JEANNINE AVERSA

AP Economics Writer

WASHINGTON (AP) —
The economy nearly stalled in
the fourth quarter with a growth
rate of just 0.6 per cent, cap-
ping its worst year since 2002.

Wednesday’s Commerce
Department report showed that
the economy that deteriorated
considerably during the Octo-
ber-to-December quarter as
worsening problems in the
housing market and harder-to-
get credit made individuals and
businesses more cautious in
their spending. Fears of a reces-
sion have grown, even as infla-
tion remained elevated.

For all of 2007, the economy
grew by just 2.2 per cent, the
weakest performance in five
years, when the country was
struggling to recover from the
2001 recession. The housing col-
lapse was the biggest culprit;
builders slashed spending on
housing projects by 16.9 per
cent on an annualized basis, the
most in 25 years.

The gross domestic product
report for the last quarter of
2007 came as the Democratic-
run Congress and the Bush
administration continued to
work on a program of tax
rebates and business incentives.

“We are not happy with 0.6
per cent GDP growth,” Com-
merce Secretary Carlos Gutier-
rez told The Associated Press.
“We now need the full Con-
gress to move forward as soon
as possible because consumers
— the American people — are
waiting for that check and that
is going to help them.”

Sen. Charles Schumer, D-
N,.Y., said when economic
growth slowed as much as it did
in the final quarter “alarm bells
should be going off urging
Washington to give the econo-
my a good shot in the arm.”

On Wall Street, stocks slid.
The Dow Jones industrials were
down around 35 points in trad-
ing around noon.

The fourth-quarter’s perfor-
mance was: much weaker — half
the pace that economists were
expecting. :

“The economy has been sub-
ject to something of the perfect
storm here. It has been hit by
the housing slump the credit
squeeze, the subprime slime and
stock price declines on Wall
Street,” said economist Ken
Mayland, president of
ClearView Economics. “The
economy is weathering some
pretty stormy seas but it is
weak.”

The 0.6 per cent annualized
increase in gross domestic prod-
uct (GDP) marked a big loss of
momentum from the third quar-
ter’s brisk, 4.9 per cent show-
ing. The fourth-quarter pace
was the slowest since the first
quarter of last year.

The GDP figures come as
worries mount that the country
is on the verge of a recession
or perhaps is already sliding into
one.

The administration remained
hopeful that a recession could
be skirted.

“We are not forecasting a
recession,” White House
spokesman Tony Fratto said.
Gutierrez said: “We are looking
at slower growth, and the indi-
cators — the facts, the numbers
we have at out disposal — sug-
gest that is what we will see”
for the first half of the year, the
commerce secretary said. He
said the economy should return
to a more solid growth rate in
the second half.

GDP measures the value of
all goods and services produced
within the United States and is
the best barometer of the coun-
try’s economic health.

In the fourth quarter, con-

sumer spending slowed to a
pace of two per cent, down
from a 2.8 per cent growth rate
in the prior quarter. For all of
last year, consumers boosted
spending by 2.9 per cent, the
smallest increase since 2003.
. Businesses also watched their
spending more closely during
the final quarter of last year.
Fearing a lessening appetite
from their customers, they cut
inventories of goods. That
shaved 1.25 percentage points
from fourth-quarter GDP, the
most in a year.

Spending by businesses on
equipment and software slowed
to a pace of 3.8 per cent in the
fourth quarter. For the year,
such spending was up just 1.4
per cent, the worst showing
since 2002.

Sales of U.S. goods and ser- ©

vices abroad also slowed sharply
in the fourth quarter. Exports
grew at a 3.9 per cent pace,
compared with a sizzling 19.1
per cent growth rate in the third
quarter. That strong export
growth was a key reason why
the economy performed so well
as a whole in the prior quarter.
For all of 2007, exports grew by
7.9 per cent, the slowest in two
years.

Meanwhile, inflation picked
up sharply during the final quar-
ter. However, for all of 2007, it
moderated slightly.

A gauge of inflation linked
to the GDP report showed that
“core” prices — excluding food
and energy — grew at a rate of
2.7 per cent in the fourth quar-
ter. That was up from a two per
cent rate in the prior quarter
and was the biggest quarterly
increase since the spring of
2006.

For all of last year, core prices
went up 2.1 per cent, down from
2.2 per cent in 2006. The infla-
tion figures are above the Fed’s
comfort zone — the upper
bound of which is a two per cent
inflation rate.

High energy prices are a dou-
ble-edged sword. They can put
a damper on growth and also
stoke inflation, which would be
a dangerous combination for
the economy. The inflation fig-
ures could complicate the Fed’s
job of trying to energize overall
economic growth while also
keeping inflation under control.

Some analysts think the econ-
omy is on pace to recede from
January through March. Under
one rough rule, the economy
would have to contract for six
months in a row for the country
is considered to be in a reces-
sion. The odds of a recession
have risen sharply over the last
year, and analysts increasingly
believe the U.S. will be in one
during the first half of this year.

THE RETREAT, VILLAGE ROAD

Saturday 2‘ February, 2008

10.00 am to 2.00 pm

Featuring

Flamingo Nursery & The Green House Nursery



And many of our members

BUSINESS







od

THE WESTIN ‘Ss

4h ae
GRAND BAHAMA ISLAND Sheraton
OUR LUCAYA Grand Bahama Island
Resort our LUCAY ‘

{1 RET aa SEU

EXCELLENT CAREER OPPORTUNITY EXISTS FOr
Banquet Manager

The successful candidate will be responsible for leading a team of banquet stewards for

Freeport, Grand Bahama

cleaning, setting up and maintaining all banquet functions as well as all stewarding work i
related to the banquet department. }
Candidate should possess the following minimum requirements: }
° Excellent oral and written communication skills; |
e Knowledgeable in computer programs, Excel, Microsoft word, and Delphi; |
° Bachelor’s degree in hospitality management or business management
preferred; |

* Minimum of five years hospitality experience in food and bever age W ith al '
least two years in a supervisory position. j

ff

We offer exceptional pay and benefits. f

Resumes should be forwarded on or before February 15", 2008 to:
ourlucayajobs@starwoodhotels.com or ;

The Westin & Sheraton Grand Bahama Island Our Lucaya Resort }

P.O. Box F-42500 :

d































Book } your Sights. rent cars
and hotel rooms ANYTIME,

ANYPLACE without picking up
the phone! . j

Certified Travel Agents
standing by!



All tickets issued locally!



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For Information on Baggage,
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us today!

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Tel: 328-0264 / 328-0257

info@premiertravelbahamas.com

Security & General
INSURANCE

ACCOUNTS ASSISTANT

Security & General Insurance Company Limited (S&G), part of the
Colonial Group of Companies (CGI) with headquarters in Bermuda, is
seeking an Accounts Assistant.

ip opr naoe ernest, me tee ae

PEST

CGIL, with offices in Bermuda, the Cayman Islands, the British Virgin
Islands as well as the Bahamas, offers a complete range of premie!
financial and insurance services and, over the past few years, has
undertaken significant growth. This is an opportunity to be part of a
rapidly growing innovative company, focusing on providing clients with |
first class service and access to competitive products. |

ena woe mE

Based in Nassau and reporting to the Accounts Supervisor for Secur'ty
& General, duties will include, but not be limited to the following:

Accounts Payable

Reconciliation of reinsurance broker accounts

Daily posting and application of insurance payments
Preparation of accounting journals

Special assignments

File maintenance

Minimum requirements for this position are:

e 2-3 years bookkeeping experience

e At least an Associates Degree in Accounting or equivalent

e Good oral and written communication skills (verbal, written
and presentation)

e Proficiency in MS Office products

e Ability to work within a team environment

Compensation for the successful candidate will be attractive, linked to
performance and relevant to experience and qualifications. Security
& General offers an attractive benefits package that includes
comprehensive medical insurance, contributory pension plan and life
insurance.

If you have a keen commitment to quality results and want to contribute
your talents to a dynamic company, contact us about this opportunity
Applications will be treated in the strictest confidence and should be
mailed to the Human Resources Manager, at P. O. Box N-3540 or faxed
to 323-2880.

Closing Date for applications is February aqth 2008.



PAGE 16B, THURSDAY, JANUARY 31, 2008

TRIBUNE SPORTS



_ FORRENT ©
PARADISE ISLAND

RESIDENCE WITH SPECTACULAR VIEWS
OF NASSAU AND ITS HARBOUR:

e 5,000+ sq ft. total area

¢ 4 Bedrooms with 4.5 baths

e Master bedroom with dressing area, Jacuzzi
tub and large walk-in closet

* Large balconies

e Elegantly furnished throughout with a
separate study

e Formal dining room

® Private elevator

* Heated pool and spa overlooking the harbour

e Private dock for a yacht up to 75 feet

*® Dedicated storage and crew areas

e Exercise room

* Indoor Garage

® Private gated entry

¢ Lush tropical landscaping

Rent: $18,500.00 per month net
NO PETS

For further information and viewing call:
363-2730



-MINISTRY OF FINANCE



Film

BUSINESS

udios key



recovery source
for ‘insolvent’ firm

@ By NEIL HARTNELL
Tribune Business Editor

LIQUIDATORS for an
allegedly “insolvent” insurance
company that re-domiciled to the
Bahamas to keep its assets away
from creditors believe the pend-
ing sale of the Grand Bahama-
based Bahamas Film Studios
project could provide some
return for those seeking to recov-
er sums owed.

Richard Fogerty and William
Tacon, the liquidators for for-

mer Nevis-based Condor Insur- ’

ance, said in a court-filed docu-
ment that they had uncovered
evidence that the company
owned 18.9 million shares in

GN638

BUSINESS LICENCE ACT

CHAPTER 329

The Public is hereby notified for general information of the
following provisions under the Business Licence Act, as

amended:

Section 3 (1) subject to Section 5 and 6, every person
who in any year carries on any business with a view to
| obtaining a turnover shall before the 1st October and the
30th April of every Sees, year make an application in
the prescribed manner to the Minister for an annual business
licence in respect of the carrying on of that business.

Section 3 (5) “notwithstanding anything to the contrary in
any other Law, but subject to Section 7 and 12 (2), where
the carrying on of a business is subject to a licence being
granted pursuant to an application made under any other law,
any such licen i ued de other law_in_respe

na ease td

of a busines any period

have effect for
he holder of alicence issued

under this Act.”

Section 4 (1) subject to any regulations made under this Act,
a person shall unless he is exempt therefrom, by virtue of an
order made by the Minister determine and pay for a licence in
relation to the business described hereunder the appropriate fee
computed subject to the provisions of subsection 3 (A) and 3 (D)...

| Section 15 states, “every person who,

a) subject to Section 7 and 12 (2), in any year without lawful
excuse carries on a business in respect of which there is no
licence in force;

b) contravenes the provisions of Section 3 (1).

| c) fails without reasonable excuse to furnish any particulars or
information within the time specified by the Secretary or by
regulations made under this Acct.

in a return, information or particulars furnished under this
Act, makes a statement which he knows to be false in a
material particular or recklessly makes a statement which is
false in a material particular;

in relation to any business, knowingly keeps or preserves,
or causes to be kept or preserved, any book, record or
account which is false in any material particular, or makes or
causes to be made in any book, record, account or return
any entry which is false in any material particular;

obstructs the Secretary in the exercise of his functions
under this section; or

is knowingly concerned in, or in the taking of steps with a
view to, the fraudulent evasion by him or vy other person
of any fee payable under this Act, is guilty of an offence and
is liable on summary conviction thereof;

i. to a fine of ten thousand dollars ($10,000.00) or to imprisonment
for two (2) years;

ii. in addition to any fine, a sum of not less than two
hundred and fifty dollars ($250.00) and not more than
one thousand dollars ($1,000.00) for each
day the offence continues subsequent to the date to
which the conviction relates; and

iii. five times the amount of any sum shown to the court
that would have been payable as a licence fee but for
the commission of the offence; and

iv. in respect of a conviction for an offence under paragraph
(a), to have his goods, machinery and equipment used
in connection with, or that were the subject of, the

business to which the conviction relates, forfeited and
sold or otherwise disposed of as the Court sees fit.



Ashby Corporation, the ultimate
Bermuda-registered holding
company for the Bahamas Film
Studios.

The details were disclosed in
filings detailing the liquidators’
response to attempts by Ross
Fuller, chairman of both Ashby
Corporation and the Bahamas
Film Studios, to quash subpoenas
they had been attempting to
serve on him regarding the pro-
duction of documents relating to
Condor Insurance, which they
believe are in his possession.

Messrs Fogerty and Tacon
alleged that based upon infor- -
mation they had recovered, Mr
Fuller and his company, Stock-
ton, Fuller & Company, which
has offices in Nashville and
Atlanta, were Condor Insur-
ance’s investment bankers.

They pointed out that Mr
Fuller had not denied this in his
response to their original attempt
to subpoena him, acknowledg-
ing that the company “has acted
as a consultant to the Condor
Companies for some 10 years”.

The liquidators alleged: “Mr
Ross Fuller and Stockton, Fuller
& Company have significant con-

The Tribune

: |
R er i

nections to [Condor] through
Ashby Corporation. The [liq-
uidators] have information indi-
cating that [Condor] owned 18.9
million shares of Ashby Corpo-
ration.

“It also appears that 12 mil-
lion of those shares were trans-
ferred just prior to the winding-
up proceeding, from [Condor] to
Unified Investments, a US com-
pany with offices in Arlington,
Texas. It does not appear that
any consideration was paid for
by this transfer.”

The liquidators based this
assertion on a March 29, 2006,
fax sent by Harvey Milam, Con-
dor Insurance’s president, to a
Christoph Birrer at AIG Private
Bank in Zurich, Switzerland.

AIG Private Bank, The Tri-
bune has been able to confirm,
was effectively acting as custo-
dian for much of Ashby Corpo-
ration’s stock. Mr Milam asked
Mr Birrer to “transfer all Ashby
stock held by AIG Private Bank
on behalf of Condor Insurance”
to a Utah-based corporation,
Alpine Securities, which was
then to credit them to Unified
Investments.

Pace

IRS uen cui nec eee

Everywhere The Buyers Are!

GN-639

GOVERNMENT NOTICE

MINISTRY OF PUBLIC WORKS AND TRANSPORT

GLASS WINDOW

BRIDGE REPAIR/

FORTIFICATION PROJECT

The Government of The Bahamas, through the Ministry of Public
Works & Transport, seeks to hire a construction firm to provide
the requisite services for the upgrade of the Glass Window Bridge,

Gregory Town, Eleuthera.

The long term goals for the transportation and safety needs of the
island of Eleuthera, dictate that the Government of The Bahamas
replaces the existing bridge with a Causeway - In the interim,
however, the Government seeks to maintain a safe land link
between North and Central Eleuthera, via the existing Glass

Window Bridge.

Tenders are hereby invited for the Glass Window Bridge
Repair/Fortification Project. All interested parties, both local &
International, are invited to collect Tender Documents after payment

of a non-refundable fee of Fifty

Dollars. Payment may be in the

form of cash, certified check, bank draft or money order and made
payable to the Public Treasury of The Bahamas.

Interested parties may collect the Tender Document beginnin
y g

31st January, 2007 between the
Monday to Friday from:

The Secretary
| Civil Engineering Section
Ist Floor East Wing,

hours of 10:00am and 4:00pm,

Ministry of Public Works and Transport,

John F. Kennedy Drive,
P.O. Box N-8156
Nassau, Bahamas

Telephone: (242) 322-4830 Extm. 4042

Fax: (242) 302-9770

Email: melanieroach@ BAHAMAS.GOV.BS

Please note that evidence of payment of the above-stated fee must
be provided, prior to the release of documents.

Tender Documents must be fully completed in accordance with

the instructions therein.

The original and three (3) copies of the completed proposal must

be placed in a sealed envelope

clearly marked on the outside,

“Tender Document Glass Window Bridge Repair/Fortification”

and deposited in the Tender Box

at the Ministry of Finance, Cecil

Wallace Whitfield Building, West Bay St., Nassau, The Bahamas
no later than 10:00am on or before Tuesday, 12th February, 2008.

Applicants will be notified of the results of their submissions,
following the evaluation of the documents.

Signed
Colin Higgs
PERMANENT SECRETARY



Mr Milam specified that Uni-
fied Investments was “an affiliate
of Condor, and is a transfer, not
a sale”.

And the liquidators also
uncovered a January 11, 2005,
memo signed by Mr Milam on
Condor Insurance paper, which
said: “Ross Fuller is empowered
to act on behalf of Condor Insur-
ance in regards to its position in
Ashby Corporation.”

In their filing, the liquidators
said: “Mr Ross Fuller was, and
may still be, chairman of the
Board of Ashby Corporation.
Upon information and belief,
Ashby Corporation owns 100 per
cent of Gold Rock Creek Enter-
prises, which in turn owns the
Bahamas Film Studios.

“Upon further information
and belief, the Bahamas Film
Studios owns the film studios in
the Bahamas in which Disney
filmed Pirates of the Caribbean
II and II.

“According to reports from
the Bermuda Stock Exchange,
Ashby Corporation and its sub-
sidiaries are attempting to sell
the Film Studios. Any value
could ultimately flow up to the
stockholders of Ashby Corpora-
tion, and may benefit [Condor’s]
estate should the liquidators
obtain a return of the Ashby
Corporation stock.” \

The court filing also alleged
that Gold Rock Creek Enter-
prises and Mr Fuller’s investment
bank owed $650,000 to Condor,
a debt that had since been trans-
ferred to Bahamas-registered
Condor Guaranty Inc, the com-
pany formed to hide Condor’s
assets.

Gold Rock Creek was the -

immediate holding company for
the Bahamas Film Studios. Fur-
ther, Condor Insurance is under-
stood to have been the insurer
for the $9.95 million loan the
Bahamas Film Studios obtained
from FirstCaribbean Interna-
tional Bank (Bahamas) to can-
struct its water tank.

The insurance guarantee put
up by Condor Insurance has
since been taken by the bank,
meaning that the Bahamas Film
Studios now owes $9.95 million
to Condor Insurance.

The Bahamas Film Studios are
in the process of being sold to
Bahamas FilmInvest Interna-
tional, the group put together
and headed by Bahamian
banker, Owen Bethel, head of
the Nassau-based Montaque
Group.

A significant chunk of the pur-
chase price he will receive will
be used by Mr Fuller to settle
the Bahamas Film Studios’ lia-
bilities, the biggest of which is
that $9.95 million loan.- There-
fore, Condor Insurance many
find itself in the position of a size-
able debt being repaid to it by
its long-term financial advisor,
Mr Fuller.

The liquidators have reissued
subpoenas to Mr Fuller, after
renaming them to reflect the
investment bank’s correct name.
His motion to quash the previous
subpoenas has been denied.

A lawsuit filed by Condor
Insurance’s liquidators in the US
Bankruptcy Court for the south-
ern district of Mississippi alleged
that Condor Insurance trans-
ferred its assets to Condor
Guranty, the Bahamian compa-
ny to put them “beyond the
reach of Condor Insurance’s
creditors”.

’ Alleging that Condor Guar-
anty was acting as a constructive
trustee of Condor Insurance’s
assets, and that it “acted dishon-
estly” in the asset transfer, the
lawsuit claimed: “Despite being
organised under Bahamian law,
Condor Guaranty does not
appear to be a registered insur-

ance company in_ the
Bahamaz.......
“Condor Guaranty is current-

ly operating as an insurer from
the Bahamas. The insurance
business is a highly regulated
industry, and there are stringent
requirements for the conduct of
this business and for the required
asset base for insurers.

“In order to engage in busi-
ness as an insurance company,
which is incorporated in the
Bahamas, it appears that Con-
dor Guaranty should be regis-
tered with the Registrar of Insur-
ance of the Bahamas, but.it is
not.” \

Condor Guaranty, the liq-
uidators alleged, did not appear
on the Registrar’s list of compa-
nies licensed to operate from the
Bahamas.



THE TRIBUNE



MM rik hi
Bank’s shareholders back $5.1m dividends pay-out

AS



SHOWN (|-r) are retiring chairman T. Maitland Cates, Hartis Pinder, Marvin Bethel, Paul McWeeney, Peter Thompson, Dr Pandora John-

THURSDAY, JANUARY 31, 2008, PAGE 17B x

BANK of the Bahamas Interna-
tional shareholders have ratified the
payment of some $5.1 million in divi-
dends for the fiscal year ending on
June 30, 2007, as well as electing a
new Board of Directors at the its
Annual General Meeting (AGM).

Hotelier Robert ‘Sandy’ Sands and
Treasury financial secretary Ruth Mil-
lar were returned to the Board. New-
ly-elected directors include former
banker and businessman Wesley Bas-
tian, insurance executive Marvin
Bethel, attorney Ruth Bowe-Darville,
insurance executive Patricia Her-
manns, College of The Bahamas edu-

cator Dr Pandora Johnson, chartered:

accountant MacGregor Robertson,
attorney Hartis Pinder, insurance
executive Patrick Ward and retired
banker Peter Thompson. Managing
Director Paul McWeeney remains on
the board in his executive capacity.
With 74 per cent of the outstanding
shares represented at the meeting held
at the British Colonial Hilton, share-
holders ratified payment of $5.1 mil-
lion in dividends during the fiscal year,
including $4 million to ordinary share-
holders and the remainder to those

holding preference shares,



The bank’s net income for the year ‘

stood at $10.8 million, following major
capital investment in a new core oper-
ating system that allowed for three-

day clearance of US dollar deposits °

and Automated Clearing House -

(ACH) introduction.

“Viewing the past two years, Bank #

of the Bahamas International’s per-

formance has been nothing short of «
stellar, with net income growing at a _

rate of 53.7 per cent, outstanding by
any measure or standard,” Mr
McWeeney advised shareholders in
the bank’s annual report.

“In fact, the bank has earned more
than $100 million through dividends, «
sale of shares and share appreciation «
for the Government in the past 10 |

years... At the same time, we are con-

stantly aware of our responsibility to “

all shareholders, the 4,000 individu-

als who have placed their trust in the _

bank and our vision.” Government

owns 51 per cent of the bank’s shares. *

Those shareholders saw the bank’s
assets grew 45 per cent in 2006, and

ended the fiscal year 2006-2007 at â„¢

$658 million.

son, Ruth Bowe-Darville, Wesley J. Bastian, Patrick Ward, and Robert Sands. Not pictured are Patricia Hermanns, MacGregor Robertson
and Ruth Millar

Do You Want To Make

Extra Money?

People re currently earning

,000 + Monthly
¢ US Based company
¢ Vacation for less
¢ Work from home
¢ Executive Type Income
° Get paid weekly
We are looking for serious
Motivated, enthusiastic persons only

Call 394-3020



“5 Jaek-Ruggell Terrier (Female)
a Name: Freckles
Missing since Wednesday 23rd,
January.2008.
From: Corrie Acres, Adelade Rd.
Please Call: 362-1363
Reward Offered. No Questing Asked

NOTICE
‘ RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the
following:

“ALL THAT” piece parcel or lot of land being Lot #3391
Sir Lynden Pindling Subdivision, situated in the Southern
District on the Island of New Providence one of the islands of
the Commonwealth of The Bahamas. Situated theron is a Single
Family Residence, consisting of (3) three bedrooms, (2) two

bathroom.
Property Size: 5,000 Sq Ft
Building Size: 1,312 Sq Ft

This property is being sold under Power of Sale contained
a Meroe to FINANCE CORPORATION OF BAHAMAS

i
All offers should be forwarded in writting in a sealed
enevelope, addressed to the Manager, Royal Bank
Collections Centre, PO. N-7549, Nassau Bahamas and
marked “Tender 2214”. All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.

RBC

_ NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the
W following:

“ALL THAT” piece parcel or lot of land being Lot #2 of
Tract Northernside of Adelaide, situated in the Western
District on the Island of New Providence one of the islands of
the Commonwealth of The Bahamas. Situated theron is two Town
Houses consisting of 1-(2) two Bedrooms, (2) two Bathrooms and
1 + (3) Bedrooms, (2) Bathrooms.

Property Size: 5,756 Sq Ft
Building Size: 1,715 Sq Ft

'
This ‘property is being sold under Power of Sale contained
ence: to FINANCE CORPORATION OF BAHAMAS
TED.

All offers should be forwarded in writting in a sealed
enevelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked “Tender 3359”. All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.








NOTICE

NOTICE is ey el that RAYNALD OLIBRICE of
P.O. Box AB-20779, MARSH HARBOUR, ABACO,
BAHAMAS is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 31ST day of
JANUARY 2008 to the Minister eee for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.



NOTICE

Pursuant to the provisons of Section 138 (3) of the
International Business Companies Act, 2000, notice
is hereby given that UKRAINE VALUE OPPOR-
TUNITIES FUND LTD. has been dissolved and
struck off the Register of Companies as of 21.

January 2008. ert ot

Deirdre M. McCoy/ Anthony L.M. Inder Rieden
Liquidators

| NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the
following: :

“ALL THAT” piece parcel or lot of land being Lot #42,
Foxdale Subdivision situated in the Eastern District on the
Island of New Providence one of the islands of the Commonwealth

of The Bahamas. Situated theron is a Single Family. Residence, .

consisting of (3) three bedrooms, (2) two bathroom.

Property Size: 6,329 Sq Ft
Building Size: 1,247 Sq Ft

This property is being sold under Power of Sale contained
in a Mortgage to FINANCE CORPORATION OF BAHAMAS
LIMITED.

All offers should be forwarded in writting in a sealed
enevelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked “Tender 0810”. All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the
following:

“ALL THAT” piece parcel or lot of land being Lot #1218
Golden Gates Subdivision, situated in the Western District
on the Island of New Providence one of the islands of the
Commonwealth of The Bahamas. Situated theron is a Single Family
Residence, consisting of 3 Bedrooms, 2 Bathrooms.

Property Size: 5,000 Sq Ft
Building Size: 1,315 Sq Ft

This property is being sold under Power of Sale contained
ina Meraage to FINANCE CORPORATION OF BAHAMAS
LIMITED.

All offers should be forwarded in writting in a sealed
enevelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked “Tender 4042”. All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.



CHIBAH SYSTEMS

rw Customized Technology

Sales Representative
WANTED

DESCRIPTION

Chibah Systems Ltd., one of the fastest growing technology
companies in the Bahamas, has an opening for a dynamic
and experienced Sales Representative. The successful
candidate should be hard working, a team player, and must
have refined interpersonal and customer service skills.

REQUIREMENTS
The individual we seek will be responsible for maintaining
relationships with existing target customers and
prospecting for new customers based on established sales
strategies. The Individual must possess:
A minimum of 5 yeas of sales experience and
relationship building with business accounts.
Outstanding verbal and phone communication
skills.
Ability to get to decision-makers, establish a
rapport and get them excited about our qualify
products and services.
Customer focus in maintaining strong relationship
..... «Ships with accounts to ensure ongoing business
‘« ~~™““'Professionalism and integrity in representing the
RS "* 6ompany. ~*~ mies LAF AGS +S. oat
The ability to close
Must have own transportation.

Please send resume with salary requirements to:
Chibah System Itd.
Attn: Sales Manager
P.O. Box F-600
Freeport, Bahamas
or send email to BGray@chibahsystems.com

NOTICE
RBC FINCO INVITES TENDERS |

RBC FINCO invites tenders for the purchase of the
following:

“ALL THAT” piece parcel or lot of land being Lot #13
College Gardens, situated in the Western District on the
Island of New Providence one of the islands of the Commonwealth
of The Bahamas. Situated theron is a Duplex consisting of (2) two
bedrooms, (1) bathroom.

Property Size: 6,420 Sq Ft
Building Size: 1,456 Sq Ft

This property is being sold under Power of Sale contained
in 7 Moneede to FINANCE CORPORATION OF BAHAMAS
LI D.

All offers should be forwarded in writting in a sealed
enevelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked “Tender 8592”. All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the ¢
following:

“ALL THAT” piece parcel or lot of land being Lot #26 Frelia
Subdivision, situated in the Southern District on the Island
of New Providence one of the islands of the Commonwealth of
The Bahamas. Situated theron is a Single Family Residence,
consisting of (3) three bedrooms (2) two bathroom.

Property Size: 5,000 Sq Ft
Building Size: 1,220 Sq Ft

This property is pee sold under.Power of.Sale contained
ip . Mottgage to FINANCE CORPORATION. OF BAHAMAS

All offers should be forwarded in writting in a sealed
enevelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked “Tender 1938”. All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.





SEE At BN OGL ET

Narre ore ew

SEW AEs.

er

SRE OME. BT oe ate



PAGE 18B, THURSDAY, JANUARY 31, 2008 |
COMICS PAGE



JUDGE PARKER

YOU WERE GOING T
: oy TEAL OUR UFES work
FO BLUILP HOUSEGF

ety

YOU CAN SAVE THE
HOMESPUN ADVICE

THERE, HONEY, HE'LL ) FOR YOUR
FOR YOUR COWGIRL

COME ‘ROUND. MEN CONCERN, *NOBIPY KNOWS, FOR

DIAMOND ON YOUR LEFT
HAND, MAGGIE?

BECAME EXTINCT.”

YOU LOOK LIKE YOU'VE HAD A
‘ never DAY, HONEY
POF R

North dealer.

Opening lead — two of clubs.

As soon as dummy is tabled, it is
the duty of the defenders to formu-
late a plan to defeat the contract. In
striving to attain that goal, the
defenders should utilize any clues
they might glean from the bidding or
play and then, at the appropmiate
moment, put their thoughts into
action.

Consider this deal where North-
South reached four spades on the
bidding shown, and West led: the
deuce of clubs. Declarer won with

THEN GS GNIE re We
ANAM. MANKET FACES!

OG VUE WE, UX. 12-27
al orev. 61 urwvegsen eRass 100.

















ad
a

| CAN YoU ANSWee
| AN ARITHMETIC
QUESTION FOR ME,
|

t

i

word, each letter may be used once
only. Each must contain the centre
letter and there must be at least
one nine-letter word. No plurals.
TODAY'S TARGET

Good 21; very good 32; excellent 42
{or more). Solution tomorrow. ,

[.__crvericpuzie | PUZZLE






































| “PROBLY BECAUSE THEY
SURE, WHY DINOSAURS. WERE AMILLION YEARS OLD"

The One and Only Chance

Both sides vulnerable.
NORTH
#Q107
Â¥QI3
AKQ102
93
WEST EAST
262 A4
Â¥K5 VA864
39864 73
#10842 #KQJ75
SOUTH
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The biddizfg:
North East South West
1¢ 2% 2¢ Pass -
4¢@

WE DID IT!
WERE OFF!



the ace, cashed the A-K of diamonds,
discarding a club, and then led the
seven of spades.

- Had East been napping through
the first three tricks, he could easily
have missed his only chance to
defeat the contract. If he had fol-
lewed low to the spade lead, declarer
would have won, led a second trump
to East’s ace and subsequently lost
two hearts to make his game.

But East had been wide awake
during the early play and was more
than ready when the first spade was
led. He realized that South could not
have started with more than two
clubs, since he had not attempted to
discard another club on the queen of
diamonds.

Furthermore, since declarer had
no more chubs or diamonds and was
known to hold a stro: ie Bee suit,
East corfectly conch that the
only chance the defense was to
score two beart tricks and a heart ruff
in addition to the spade ace. And the
only way this could be achieved was
if West ‘had the doubleton king of
hearts.

Accordingly, East rose with the
ace of spades at trick four and led a
low heart to West’s king. West then
retumed a heart to East's ace, and a
third heart was ruffed by West to set
the contract.

TARGET



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peg neeael
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THE TRIBUNE





BOY, THAT WAS A CLOSE CALL |
BUT IT WILL BE WORTH IT
WHEN WE GET THESE PICTURES
DENELOPED.





THURSDAY,
JAN 31

AQUARIUS — Jan 2U/Feb 18.

oA

Now’s the time to make a change if
you’re bored with your current situ-
ation at work or in your personal
life. You’ll have plenty of energy to

go around this week.

PISCES — Feb 19/March 20
Try not to mix business with plea-
sure this week, Pisces, as you may
regret it. Things can get confusing
when it comes to affairs of the heart, ,
Keep your emotions under control.

ARIES — March 21/April 20

You must fight for what you want
this week, Aries. Take nothing for
granted, especially from those who
you suspect may be jealous of your
recent success.

TAURUS - April 21/May 21
Your workload is likely to increase
this week, and you'll have to work
pretty hard just to keep up. Be sure
to reward yourself with plenty of
rest and relaxation.

GEMINI - May 22/June 21
Put your heart and your soul into
everything you do this week,
,Gemini. Expect positive develop-
ments in a working retationship,
friendship or romance.
‘CANCER — June 22/July 22°
Now is the time to act if your mae
is to persuade loved ones to see
things your way. Those near and
dear may become more difficult,
‘but not impossible, to dea! with
later in the week. 3
LEO - July 23/August

Think positive: Leo. No matter what
you do for certain people this week,
it won’t be enough, so stop worry-
ing about it and just do what makes
you feel good.

VIRGO — Aug 24/Sept 22

If you focus on money matters this
_week, it won't be long before all of
your numbers are lined up.

“However, if you do to much at once,
you'll only end up in trouble again.

LIBRA — Sept 23/Oct 23

You won't want for self-confidence
‘this week, Libra. But remember that
yours is the sign of partnerships, and
you'll get more done if you leam to
cooperate with others.

' SCORPIO — Oct 24/Nov 22
You may regret it if you give too
‘much away this week, Scorpio.
Your generosity is legendary, and
wonderful, but it pays to be a little
selfish at times.

SAGITTARIUS — Nov 23Dec 21

You are a person who definitely






Re

Sy
n

\
\

7



\









ACROSS
3 Room to take a bend at es Me shame about a letter be ' understands how to network. Your
speed (5) i PEs hein WO d smile this week is proof that you're
Pe brief (5) r : on top. Don’t try so hard to impress
8 — Anoriginal show? (5 ict
ginal show? (5) 2 Quite a small pond can be big other people. After all, you’re the
10 Have a bit of fun in port (5) enough for them (7) | down | _ star of the show.
A ; meal with Earl Grey? (3) 4 — Tohavea snack on the quiet can be | CAPRICORN -— Dec 22/Jan 20
othing new to wear (5) handy in the garden (4) A football There will rarely come a better time
13 Style of town hat or piece of 5 Cana sharp one take a slice out of a Pita eke to show the bosses what you've Bot.
furniture (7) fish tail? (6) moves the ball Don’t worry about messing up; just
15 Uniform in rags, maybe, but it may 6 — Accept with all-consuming : forward take the plunge and in no time every-
suit daddy (5) enthusiasm (3,2) _. GE one e will be anere yaur praises.
: Plan to keep mum quiet (3) 7 Many a sage could be an artist (5) -
9 Again assume a position of rest (6) 3 Half the leaves are green as grass (3)
21 He isn’t particular who he orders 12 Optimistic in arranging fuel for a me ‘a ESS By Leo are a B a rd eri
about (7) flight (7) Yes
22 Legal right to have a rest and close 14 Alittle girl’s granny (3} Merab Gagunashvili v Shelby
down (4) 16 They can spoil clean sheets (5) Getz,Philadelphia World Open (=== ae s
23 les tours a. -Wales for a bit of 17 As ever, it’s up to a tail-ender to have 2006. Sometimes you can win a ‘ | S Pea | tc = 4
guidance (4 fun! (5) , game by tactics, sometimes by 7
24 Call promissory notes fishy! (7) “19 Punishment uselessly fast (7) exchanging pieces into a a FEY
j. 26 Claret blending combine (6) 20 Cuoose a delectable ingredient (5) favourable ending. it’s a great ° & gt fe
- 29 Evenan expert can get a 21 Willhe sin in guilty extremes? (5) advantage when the position — 5 oa el psp |
ss bad break (3) 23 There’s little room for a clever cue ACROSS DOWN naeees Yee ee comune oe + aS & ey FY
Hh 31 Make a fitting experiment (3,2) about some bicycles (7) 3 Faith (5) 1 Gauge (5) methods, as In today's puzzle. : ,
i Ve 3% Good girl returning ina 24 She's stupid, getting aut of line (6) 10 Noble a 5 i sun a Sars hnreeve) Nes rock Hie ‘ ei RT |
new hat (7) 25 It's pulled into your own two arms (3) " igh 3) 6) 5 Perfumes (6) knight and pawn, only a small x
34 edge in normal conditions. B
ly | Nitwit with a pub in New York (5) 27 Guardian very much eyed as a mere wu 2 eet 6 Now (5 ons. But , Bale Te |
‘ 4 35 One pushed over a bridge to start myth (5) a | 2 : working (7) : eee {5 Q) the white player spotted that wh bd tet LS i
ie the ball rolling? (3) 28 Distilled extr ae ee aes oe ee ee ceatl et ot oe gea
aie act of nicotine, as 18 Receptacle 3) 12 Renovation (7} ee. ,
}, 36 Where, naturally, a vessel can b 19 Fashions (6 his back rank weak, so Getz considered the defence 2
} ual , y, a vessel can be medicine (5) =) 2 Feels remorse (7) 14 Tear (3} continued actively with 1Qb4! Rael Qd8 guarding the back row
i «found (5) - 30 Encourage Charlie to get here a. 22 Follow (4) evel forcing the retreat Nb6, afte
H 37 For achap to have ahalf of bitter can somehow (5) > 23 Formal party {} is Reel) 2 which 2 Rael kept up the i a ; i mats : aie
winnin ce
make a change (5) 32 Indigo; in the East, a sort of dye (4) ” i peatiae d 20 Drinking tube {5) pressure. White now had the Black's a oh PS aan lk soon
‘ 38 z a string quartet, the one with the 33 Doesit take singular fortitude ta do Pri 29 Firearm (3) uy ae 7) ’ threat 3 Re8 Rxe8 4 Rxe8 mate, —_ fall to a rook. So by elimination
? iggest belly (5) this to a fish? (3) a Diaee Gh, 4 Treat ts and if Black creates anescape —Black settled fora 1 Qb4 Nb6 2
| 34 Viper (3 { 25 Slime (3) / for his king by 2...g6 then 3 Re8 — Rae1 h6. What happened next?
. 35 Free f a ene on (5) Rxe8 4 RxeS +-- Kg7 5 Q8 mate. LEONARD BARDEN
/ 36 Oar epasts
a 37 fang mammal (5) 30 Horseman (5)
ros ' 38 Feeling (5) 32 Wagers (4)
typtic solutions asy solutions 33 Vigour (3) 7





4 ACROSS: « :. Ania: tion 10, Author-is-E 12, Shed 13, Cheers
14, Ma-m-math 15, Gone ahead 17, The-or-iser 18, Sta-R-ves
19, Pie- | 20, Ot(her}- to 23, Franc-his- e 25, Deter-gent
| 26, Line 2 Imp-act 29, Sweater 32, Ine-last- ‘+34, edit-
ated 35, G- ‘litter 36, Rounds (off) 37, Zero (in) 38, Fas-cina-
famines

N: 1, Pass-ages 2, Time and again 3, Highness 4, In-
deed 5, Cas- -set-te 6, Stamped out} Rainer 5 8, Ne-
thermos-t 1, rons 16, A-d-vice 19, Poe(try) 21, Twent
twenty 22, Arrest 23, Fallin 9 olf 24, Immaterial 25, Dot 28,
Accorded 29, Side d-ish 30k -edw-oods 31, C- -apt-ain 33,
Ex-it-s 34, Moulds

ACROSS:Y, Landslide 10, Partridge 12, A
14, Cleaver 15, Allends u 17, Irritates ieee
19, Tremor 20, Eden 23, arpentry 25, Hesitates 26,
Nuns 27, Census 29, Neither 32, Interpret 34
Murderous 35, Estonia 36, Hamper 37, Oral 38, Ring a bell
Si Bsn
easant 2, In the long run 3, Pianists 4, Reva
5, Appetite 6, Precarious 7, Arrests 8, Represents 1, co \
Duvet 16, Needed 19, To 1, Dutch courage 22,
Strive 23, Centimetre 2 Tie- breaker 25, Has 28, Satchels ‘
4 Norseman 30, Resolves 31, Grandad 3, Titan
imics.





Chess solution 8204: 3 Qxf8+! Kxf8 4 Re8 mate.
quiz: Kitkat, Topic, Crunchie, Caramel, Flake,

Mars and Snickers.

One possible word ladder solution is: LANE, land,

lard, lord, load, goad, ROAD





een é










[HE |IRUBUNE : IHUHRSVAY, JANUAHY 31, 2008, PAGE|



NE AY SESBA choice We PARE RIBS.
PRNED senswnk, NLY.STRIP $1.79/Ib ©)
STEAK |, MEATBALLS -

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% WINGS




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PAGE 20B, THURSDAY, JANUARY 31, 2008

| PRICEWATERHOUSE(OOPERS 8 }

The Partners of PricewaterhouseCoopers
Congratulate Associates on Successful Completion of
the Uniform Certified Public Accountants’ Examination



x" CTIA

EME SAN







a

a

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Right: Being congratulated by Dawn A. Jones,

Human Resources Partner, are Associates:- Karin I

L
Resident Partner - Freeport Office are Associates:- £. Glinton, Renaldo C. Harding, Nekeino A. Brice |

eft: Being congratulated by Kevin D. Sey nour,

and Reginald K. Hanna.

| Crystal C. Carroll and Learline M. Burrows.

| CRYSTAL C. CARROLL - successfully completed the final parts of the American Institute of Certified Pubic
Accountants’ Uniform CPA Examinations, during the July - August 2007 testing window.

1a]

Crystal completed her secondary education at St. Georges High School, Freeport, Grand Bahama, The jf
Bahamas where she received a partial scholarship from the patrons of St. Georges‘ High School (Mr. & Mrs. |
| Edward St. George - Grand Bahama Port Authority). After graduating from high school, she decided to
pursue a college degree in Accountancy at The College of The Bahamas, Northern Campus, where she }
completed her Bachelor of Business Administration (Accounting) degree in April 2005, During 2001. Crystal |
| gained employment at PricewaterhouseCoopers as an Accounting Assistant. Ms. Carroll currently holds jf
| the position of Associate in the Firm‘s Assurance and Business Advisory Services (ABAS) group.
i
i Crystal would first and foremost like to give thanks to God for His faithfulness. She would also like to thank 4
| her parents, Mr. Sammy and Mrs. Lisa Carroll for their continuous love and support, her siblings: Tanai, #f
i Tammy, Jess, and Nicholas, and friends, especially Shanell Bain, Gloria Cartwright and Julian Sands for their jf
| encouragement and prayers. Special thanks are also extended to all of the members and partners of the j
Firm for their motivation and support,

LEARLINE M. BURROWS - successfully completed the final parts of the American Institute of Certified Pubic |
Accountants’ Uniform CPA Examinations, during the July-August 2007 testing window.

| After completing her secondary education at St. Georges High School in June 2002, Ms. Burrows went on

| to obtain a Bachelor of Business Administration Degree (BBA) with a concentration in Accounting from The |
College of The Bahamas Northern Campus, where she graduated in June 2006. In May 2006, Learline |
began her professional career with the Firm and currently holds the position of Associate in the Assurance |

| & Business Advisory Services (ABAS) group.

|
1 |
; 4

i

For her accomplishment, Ms. Burrows would first like to give thanks to God, with whom all things are possl- |
i ble. She would also like to thank her parents Leon (deceased) and Annarene Burrows for their love and
| support; her siblings, Angelo & Angelique Hield, Lasard Burrows; friends and well wishers alike especially Mr. |
| Dedric Adderley and the entire Adderley family, Mr. Todd Beneby, Mrs. Deborah Kikivarakis, Mrs. Jean |
Bowes and.the entire PwC family for their continuous motivation and suppor.

|
| KARIN E. GLINTON - was successful in passing the four parts of the Uniform Certified Public Accountants \

# Examination within the July-August 2007 testing window. |
4 | i

After completing her secondary education at si. Augustine’s College In 2003, Ms. Glinton went on to obtain

a Bachelor of Science Degree in Accounting with a minor in Economics from Messiah College in
| Grantham, Pennsylvania, graduating in May 2007. She then began her professional career with the Firm in |
| August 2007 and ‘currently holds the position of Associate in the Assurance & Business Advisory Services |
| (ABAS) group. i

First of all, Ms. Glinton gives thanks and praise to the Lord, God Almighty, who has constantly been her |
strength and inspiration. Special thanks also to her loving parents Kevin M. and Edna Glinton, her two ff
brothers Kevin E. and Kristofor Glinton, her great-grandmother, grandmothers and all other family members, |
friends, professors and colleagues for their many prayers and support throughout this experlence. Finally, |
she would like to thank the partners and staff of the Firm, for their assistance and constant encouragement. |
RENALDO C. HARDING - was successful in passing the final part of the American Institute of Certifled Public,
Accountants’ Uniform Certified Public Accountant Examinations (CPA) during the July - August 2007 testing
window,

q
q

After completing his secondary education co’ |}. Augustine's College, Nassau, Bahamas in June 2001, Mr.
Harding pursued and obtained a Bacheior 0: science degree in Business Administration (BBA) with a con-
centration in Accounting from The Collegoo of The Bahamas, where he graduated with honours in if
December 2005. In September 2006, Mr. Haiding joined the Firm full-time after transferring from another #
professional services firm, where he had previously been employed for three years. He currently holds the #f
position of Associate in the Assurance & Business Advisory Services (ABAS) group in the Nassau office. i

A special vote of thanks Is extended firstly to his grandmother, Mary Kathleen Harding whom he brands as

the "wind beneath his wings" for her support and for serving as a positive, influential role model in his life. A if
special vote of thanks is also extended to his father Glenn Carlton Harding and his aunts Linda Maria if
Chestnut, Juanita Elizabeth Edwards and Ann Patrice Harding for their continued, encouragement and if
devotion. Finally, he would like to thank the Partners and Staff of PricewaterhouseCoopers, Bahamas for
their assistance and constant encouragement. i

NEKEINO A. BRICE ~ was successful in passir «) his final part of the American Institute of Certified Public

Accountants’ Uniform CPA Examinations, during the July = August 2007 testing window,

After completing his secondary education at Charles W. Saunders Baptist High School, where he graduat-

ed as class Valedictorian, Mr. Brice went on to obtain a Bachelor of Business Administration Degree (BBA) |

with a concentration in Accounting from the College of The Bahamas, in December 2004, In August 2005, ff
he began his professional career with the Firm and currently holds the position of Associate in the |
Assurance & Business Advisory Services (ABAS) group. i

For his accomplishment, Mr. Brice would first lie to give thanks to God, for His love and grace within his life.
He would also like to extend a special thank you to his parents, Alfred Brice and Nathalie Mckenze; sisters,
Nekia, Nekeisha, and Nekeirah; Matrika Ward for her spiritual guidance and prayers; Lecturers of the School
of Business at the College of The Bahamas: Ms, Karen Lockhart, Mrs. Remelda Moxey, Mr Rupert Pinder, Ms.
Carol Scriven, and Mr. Christopher Stuart and ail other close family and friends for their unending support,
love, and prayers. Finally, he would like to thank the partners and staff of the Firm, for their assistance and
constant encouragement.



i

REGINALD K. HANNA - successfully completed the Uniform CPA exam during the July - August 2007 testing
window.

a

soneeaqesenenoneranne

Reginald completed an Associate of Arts degree In Accounting from The College of The Bahamas and a jf
Bachelor of Science degree in Accounting from South Carolina State University, Orangeburg, South |
Carolina in 2002. Thereafter, he obtained a Master of Business Administration degree from Georgia |}
Southern University, Statesboro, Georgia in 2095, Reginald began his career at PricewaterhouseCoopers |
in August 2005 and currenily Holds the positior _f Associate in the Assurance and Business Advisory Services ff
(ABAS) Group. |



He would like to thank his wife, Renée, for her love, motivation, and support. He would also like to thank his
family, in-laws, friends, and the partners and staff of PwC for their encouragement.



With offices in Nassau and Freeport, PricewaierhouseCoopers Bahamas is a member firm of
PricewaterhouseCoopers, which is the world’s largest professional services organization. Drawing on the
knowledge and skills of more than 125,000 people in 142 countries, we build relationships by providing |
services based on quality and integrity "PricewaterhouseCoopers" refers to the network of member firms of

PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity. |
: i



Toscana tastes ccs aot ieee a





THE TRIBUNE

Royal
Caribbean:
04 profits

swell 52
per cent

@ By ADRIAN SAINZ
AP Business Writer

MIAMI (AP) — Royal
Caribbean Cruises reported
yesterday that fourth-quarter
profits swelled 52 per cent. as
strong bookings produced bet-
ter-than-expected revenue
despite high fuel costs and eco-
nomic pressures.

The world’s No. 2 cruise
operator also offered guidance
for 2008, while its chairman
characterized the cruise industry
as “recession resistant” because
it offers value for travelers with
its fixed-price vacations.

Royal Caribbean said fourth
quarter earnings increased to
$70.8 million, or 33 cents per
share, from $46.6 nicision, or 22
cents per share, in the fourth
quarter of 2006.

Analysts polled by Thomson
Financial expected net income
of 34 cents per share.

The Miami-based company
said higher fuel costs hurt prof-
it by 21 cents per share in 2007,
but improved pricing and strong
close-in bookings — or those
within 90 days of sailing —
helped offset those costs in the
fourth quarter. Shares were up
18 cents to $38.87 in late-morn-
ing trading.

Chairman and Chief Execu-
tive Richard Fain said the cruise
industry is somewhat cushioned
by softness in the economy
because consumers “focus on
getting more vacation for their
money.”

“We believe that our busi-
ness, while it’s not recession-

_ proof, is recession-resistant,”

Fain said in a conference call.
“Cruising continues to be the
best value in the vacation indus-
try, and the fixed-price nature of
the purchase becomes even
more appealing during tough
times.”

Fain said bookings were
encouraging for the January-to-
March “wave period” — the
busiest reservation period of the
year, when many people plan
summer vacations.

Quarterly revenue rose 30

er cent to $1.49 billion from
$1.15 billion a year earlier as
passenger ticket revenue
climbed to $1.07 billion from
$831.7 million. Onboard and
other revenue improved to
$424.3 million from $321.5 mil-
lion.

Analysts expected sales of

Strong cruise
bookings produce
better-than-expected
revenue despite
high fuel costs

$1.4 billion.

The company said fuel prices
increased 41 per cent compared
to the fourth quarter of 2006.
Its average fuel price for the
quarter was $555 per metric ton,
compared to $395 per metric
ton for the same period in 2006.

Net yields grew 3.2‘per cent,
excluding its Pullmantur cruise
line, based in Spain. Including
Pullmantur, net yields rose 11
per cent. Yields are the rate of
return after subtracting expens-
es, such as taxes, and are a key
profitability gauge for cruise
lines.

Net income for all of 2007
was $603.4 million, or $2.82 per
share, compared to net income |
of $633.9 million, or $2.94 per
share, for 2006. Revenues for
2007 increased to $6.1 billion
from revenues of $5.2 billion
for 2006.

Royal Caribbean expects
2008 earnings between $3.20
and $3.40 per share on cost con-
trol efforts and increased rev-
enue. It anticipates first-quar-
ter profits of 30 cents per share
to 35 cents per share.

Analysts predict 2008 net
income of $3.21 per share and °
first-quarter earnings of six
cents per share.

Robert LaFleur, an analyst
for Susquehanna Financial
Group, echoed Fain’s com-
ments that vacationers likely
will be looking for deals when
booking trips.

“Historically, this is a good
thing for cruise lines, as they
remain a very compelling vaca-
tion value relative to other land-
based alternatives,” he wrote in
a report. ;

The company said it expects a
5.1 per cent increase in capacity
in 2008, partly driven by a full
year of service for Liberty of
the Seas and the April delivery
of Independence of the Seas.

Royal Caribbean Cruises Ltd.
operates five cruise lines and
has a combined total of 35 ships
in service.

ak SAAC

Opportunity inside the classroom.
Opportunity outside the classtoom.
Opportunity in life.

Please join us for an admissions presentation:
Monday, February 4, 2008 at 6:00pm
British Colonial Hilton

R.S.V.P. Rosamund Roberts at (242) 394-1665

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Volume: 104 No.59








DAY, JANUARY 31, 2008
Tae
IN TODAY’S TRIBUNE





PRICE — 75¢ [7







Housing programme stopped

Millions owed to and by
Mortgage Corporation
forces government.to act

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



THE government has been
forced to halt its housing devel-
opment programme due to out-
standing million-dollar debts
owed to and by the Bahamas
Mortgage Corporation which
have, in part, resulted from the
PLP administration’s “aggres-.
sive” -buiiding policy,.Minister
of Housing Kenneth Russell
told parliament yesterday.

Speaking during the House
of Assembly’s morning session,
Mr Russell said that the

. Bahamas Mortgage Corpora- Department of Housing. In
tion still owes the National June 2002, he said, the Bahamas
Insurance Board $7 million for Mortgage Corporation had a,
an unsecured loan obtained in cash flow of $6.7 million.

February 2007, and is itself
owed $9.5 million by the SEE page 10

Industrial unrest
brewing at COB

@ By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

Kenneth Russell

INDUSTRIAL unrest is brewing at the College of the Bahamas it
emerged yesterday, with the union which represents its teachers con-
cerned about an alleged prolonged lack of a promotional exercise,
mistreatment of research faculty and unfair dismissals.

In a press release issued yesterday, the Union of Tertiary Educators
of the Bahamas charged that the management of the college may be “so
caught up in the drive for university status that (it) forgets that the fac-
ulty and staff are the foundation of the institution.”

The union alleged that college faculty in various sections are suf-
fering.

Calling on government to investigate its members’ grievances, the
President and management at the college was slammed by UTEB for

SEE page 14

anne





Tim Clarke/T ribune staff

Opposition hits out in House over
discontinuation of tax exemption

lâ„¢ By PAUL G TURNQUEST
Tribune Staff Reporter
pturnquest@tribunemedia.net

THE DEBATE raged on in
the House of Assembly yester-
day on the discontinuation of
the tax exemption for residen-
tial homes, with the Opposition
charging govérnment with being
insensitive to the needs of the
public by not extending the
exemption, which expired in
December, 2007.

Tabling a residential con-
struction permit document out-
lining the number of homes
built since 1993 to 2006, Prime

Minister Hubert Ingraham
explained that the tax exemp-
tion law had not been taken
away — but rather it simply
expired.

Citing the document, Mr
Ingraham showed that the
growth of home construction
rose steadily from 1993 to 2006.

As the tax exemption was in
place for the final years of the
document, the graph suggests
that the exemption effectively
had little affect on new home
construction.

Former Prime Minister Perry

SEE page 10

Nassau drugs comment on US

travel blog gets mixed reaction



National forensic
lab and formal
plea-bargaining
‘are needed to
enhance the

justice system’

@ By BRENT DEAN
Tribune Staff Reporter
bdean@tribunemedia.net

THE CREATION of a nation-
al police forensic laboratory able
to perform DNA analysis, and a
formal plea-bargaining system,
are both needed to enhance the
Bahamas’ system of justice, said
the officer in charge of police
prosecutions.

Chief Superintendent Keith
Bell outlined the challenges faced
in the justice system yesterday
when speaking at the Lunch and
Litigation forum hosted by Law
Library Branch of the College of
the Bahamas.

“The Bahamas still (doesn’t)
have the capacity or the capabili-
ty to do DNA analysis,” he said.
“It means that we have to send
these cases abroad. In addition
to the cost, it also takes consider-
able time. And there are many
cases unfortunately that are
before the court that we have yet
to have the forensics done.”

SEE page 12

The Daniel
Smith inquest
‘will conclude

in March’

@ By NATARIO McKENZIE

THE much prolonged Daniel
Smith inquest will conclude in
March regardless of which of the
remaining witnesses fail to appear
Magistrate William Campbell
stated yesterday.

The inquest, which has faced
numerous delays particularly due
to several witnesses, will resume
and conclude in March, Magis-
trate Campbell stated, noting that
he does not intend to have the
matter prolonged any longer.

The prosecution intends to call

@ By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

in the dailies.

The author of the article describes how, despite
the fact his travels have taken him to numerous
“shady” and “seedy” places, he had “never been
approached on the street in the middle of the day
and offered drugs. Until (he) visited the Bahamas.”

“There, strolling through the streets of down-
town Nassau, near where the unbelievably massive
cruise ships dock (including Disney cruises), a guy
called out to tourists who passed close by, ‘Coke or
heroin, free samples’,” he said.

SEE page 12

Larry Birkhead and Jack Hard-
ing, a California based private
investigator, as well as Howard
Stern. Neither Birkhead nor
Harding were able to appear at
the inquest this week, according
to Director of Public Prosecutions
Bernard Turner yesterday. Mr
Turner also indicated that the
prosecution has not been able to
determine the whereabouts of the

SEE page 14

Le

A US travel blog in which a writer described how
he was shocked to find himself offered “free sam-
ples” of cocaine and heroine on the streets of down-
town Nassau has drawn mixed online reactions from
Bahamians and other visitors to the site.

The blogged story written by Chris Baldwin, fea-
tures on the website Travelgolf.com. On Tuesday it
received much attention because of its content,
appearing as a story on the ZNS national news, and



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WAT
PAGE 2, THURSDAY, JANUARY 31, 2008 . THE TRIBUNE

a VO SAE
, Tomatoes

thrive thanks
to pot luck

IT IS truly amazing
what a bit of individual
attention can do.

This week, Nassau resi-

2bed/2. Sbth: Price: $550,0 000 “ ‘i | dent Linda Turtle shared



DICKS POINT TOWNHOUSE

1,720 SF oceanfront townhouse with private dock to a a a epee ad oun
accommodate yachts up to 55 feet. Residence located in we i: = . u effort to grow tomatoes.
an exclusive gated community with 24 hour security, F aw | a Cal nd It is just one of the
tennis courts, a swimming pool and more. Features i ES oe ’ ene many crops she regularly
include superb views of Montague Bay, 10 ft. ceilings, \ 7 if tends in her backyard gar-

spacious rooms, large master suite, walk-in closets, den — but this year, a dif-
ferent method was tried.

recessed lighting, 2-zone central a/c, washer/dryer, large ay ’ 2 pee ae :
balcony, two parking spaces, standby generator and | .| 7 % : ea eer aaa
outdoor lighting. Offered ee we Yi‘ ’ believe what a difference
\ Te i | ] a it made,” she explained.
At the top of the pile
pictured here is a typical

Stuart Halbert | Tel: 242.396.0034 ir Cel: 242.477.7908 | x i (|| tomato bought from a

Eml: stuart@bahamasrealty.bs . \ “8 local foodstore. Surround-
ing it are the results of
Linda’s efforts.



Family's
urgent call
for missing
Freckles’

A DISTRAUGHT family
has put out an urgent call for
information on the where-
abouts of their lost dog.

Freckles, a female Jack
Russell terrier has been
missing since Wednesday,
January 23.

She disappeared from Cor-
tie Acres on Adelaide Road.
The owners say the dog
should have a red collar and

blue name tag.

She is mostly white with a
half-brown face and some
small spots on her back.

Anyone with information
on the whereabouts of
Freckles is asked to call 362-
1363.

A reward is being offered.



«National
mm tr vt rism.

Week

26 January - 1 February 2008

| Tourism Business
_ Marketplace @g&

Key Tourism Challenges & Opportunities for 2008 and Beyond...
Thursday, danuary 31
Panel # le Ipm~ 3:20pm
Panel # 2+ 3:30pm ~ 5:00 pm
Wyndham Nassau Resort & Crystal Palace Casino

Free ,
registra itior 1! iy

Meet the CEOs of major resorts and tourism facilities, and Ministers
of key Government Ministries
| Moderators:
¢ David Johnson, Senior Deputy Director General,
Ministry of Tourism & Aviation
* Philip Simon, Executive Director,
Chamber of Commerce
. oe Panelists from:
- 3 ig nae . i ¢ Baha Mar
F : | * Kerzner International
Mackey St. ia he by . | Ministry of Foreign Affairs
: ' e NAD
Thompson Blvd. Ph. 328-1143 | | | + Ministry of Health

* National Security

Bernard Rd. Ph. 393-3463 hw | | Me mpuntncey

* Nassau Tourism Development Board
CJ
ho A TTY 1A re rey

Ge

‘© Chamber of Commerce


THE TRIBUNE

LOCAL NEWS

THURSDAY, JANUARY 31, 2008, PAGE 3



0 In brief

Leslie Miller on
PLP challenge
to Blue Hills
election results

LESLIE Miller said yes-
terday that he “has no prob-
lem” with the PLP challeng-
ing the election results in
the Blue Hills constituency
so long as he does not have
to foot the bill.

“T have no problem with
the PLP taking my case to
court on behalf of the good
people of Blue Hills provid-
ing there’s no bill sent to
Leslie Miller,” he said.

He added: “I made that
clear, and the preamble was
that I don’t see why a per-
son should be charged.

“In fact that should be in
the purview of the police
and the courts to see to it
that elections are run fairly
and squarely and that per-
sons should not vote in cer-
tain areas and if persons are
found to have voted in those
areas they should be
charged in the courts of the
Bahamas.”

Mr Miller said that the
challenge of three seats
brought by the PLP was
based on merit, adding that
this was proved by the rul- .
ing in the Pinewood case,
where judges determined
just over a week ago that
110 people voted unlawful-
ly.

Mr Miller maintains, how-
ever, that elections are
“won and lost” at the polls
on election day.



UTM CMT

Pinewood residents get police
tips on property protection

RESIDENTS of Pinewood
were given advice on how to pro-
tect their property from burglary,
thanks to a two page leaflet cir-
culated by officers of the South-
eastern police division.

Following Saturday morning’s
brutal double murder of a couple
in a Pinewood Gardens home
located on Sequoia Street, offi-
cers hit the beat on Monday in
an effort to reassure locals and

inform them of how to lessen the -

likelihood of their homes being
targeted by criminals — and how
to reduce the risk to themselves.

“The following burglary pre-
vention tips will help to make
you and your family safer while
also showing you how to become

- a part of the Southeastern Divi-

sion Crime Watch team — so that
we may better serve and protect
our community, together,” said

‘the leaflet.

According to police, remem-
bering the “Three Ls” of crime
prevention is fundamental: lights,
locks and the law.

“Light up your residence, lock
your doors at all time, and call
the law (police) when you see
something suspicious,” residents
were advised,

Noting tell-tale signs that may
cause a potential robber to con-
clude that a resident is not at
home, the leaflet suggests that
homeowners should “leave lights
on when (they) go out. If you
are going to be away fora length



Ce eS



THE PLP came under
fire yesterday for “tying
up” court time with elec-
tion challenges when
judges were needed to
handle a huge case back-
log.

The party’s Marco City
election.couft case was
described as “a selfish
waste of time” by one
of several readers who
called The Tribune to
complain.

“How can the PLP go
ahead with this ridiculous
challenge when they know
the courts are choked
with criminal cases
that need urgent atten-
tion?

“Tt is typical that they
see their own petty politi-
cal interests as more
important than the wel-
fare of the nation.”

Voters

Deposed. MP Pleasant
Bridgewater is chalieng-
ing the FNM’s Zhivargo
Laing’s right to the Marco
City seat, claiming many
voters at last May’s gen-
eral election were not
qualified to cast ballots in
that constituency. .

The challenge could
occupy two judges for up
to ten weeks at a time
when the courts are in
chaos because of a huge
backlog.

One reader, who didn’t
wish to be named, said: “I
understand at least one
judge is coming up for
retirement.

“This will cause yet
more problems for the
court system, which
is overloaded with
unresolved criminal mat-
ters.

“Yet here we have a
political party prepared to
fie up the courts for two
whole months presumably
so that its leader can.
stave off the inevitable
day when he will have to
quit.

“Ti’s disgraceful.”

The PLP has already
lost its challenge in
Pinewood, where ex-min-
ister Allyson Maynard-
Gibson was defeated by
49 votes by the FNM’s
Byran Woodside.

Bia
Py

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for example — could divert
unwanted attention from your
home, it was suggested.

Residents are advised to check
all locks on their doors and win-
dows for their security, and
upgrade them if necessary.

Key-in deadbolt locks, the
leaflet warns, “provide minimal
security”, while it is advised that
additional safety can be ensured
by “pinning windows.”

“Drill a 3/16” hole on a slight
downward slant through the
inside window frame and
halfway into the outside frame
— place a nail in the hole to
secure the window,” it explained.

Robbers normally have to
believe that there is something
valuable inside for them to go to
the effort of trying to get it.
Police encourage residents to
install curtains on lower windows
to hide whatever is within, and



bicycles, barbecues and
NS lawn mowers are stored out of
ere sight.
POLICE gave out leaflets in the :

Adequate outside lighting and
trimmed trees and shrubs will
minimise outside hiding places,
police noted in the advisory.

Meanwhile, should residents
return home to find their home
broken into despite their efforts,
or notice an “unexplained
open/broken window or door”
they are advised not to enter — in
case the perpetrator is still inside.

It is also important not to

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PAGE.4, THURSDAY, JANUARY 31, 2008

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE



The Tribune Limited

NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI
Being Bound to Swear to The Dogmas of No Master

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

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

(Hon.) 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, PO. 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 couple that didn’t find a bargain

THE BAHAMAS got a much needed
tourism boost when the February edition of
Travel and Leisure, a prominent US trav-
el magazine, listed it as one of the “best
places to stretch a weak dollar.”

During this period of economic uncer-
tainty, the Bahamas was one of 10 desti-
nations listed by the magazine as a location
where a vacation could be enjoyed without
breaking the bank. The advantage that the
Bahamas has over the other nine locations
listed — among them Eastern Europe,
Hong Kong, New Zealand, and Vietnam —
is its geographic location — right at Amer-
ica’s back door.

“Their dollar is pegged to our dollar,
and in some spots you can even use green-
backs. To keep your bottom line really
steady, stay at an all-inclusive resort, where
you’ll prepay for meals and even some
drinks,” said the magazine, adding that
these islands are still the place that holiday
“bargains” can be found.

The magazine recommended Our
Lucaya in Grand Bahama as a good choice
for thrifty Americans.

“If you want extra value (and more all
inclusive options), stay on the Sheraton
side, where all-inclusive nightly rates start
at $295 per couple,” said the magazine.

However, this was not true for one
unfortunate American couple who found
no bargains here.

Last week we were waiting to go
through the security line at the airport on
our way to Jacksonville when we noticed a
very upset young couple behind us. The
woman was pregnant. Her husband was
muttering something about this country
and never returning. She was trying to
silence him, saying that no one else was
interested and he should keep their prob-
lems to himself.

However, we were very interested in
what we thought he was saying and so we
asked how he enjoyed his visit to Nassau.
This opened the door to a tirade about ser-
vice, prices and noise.

Apparently, every year they visit St
Barts in the Caribbean. They had heard
so much about the Bahamas that they
decided to change their routine and give
Nassau a try. But never, never again — as



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far as they were concerned. From that
moment on, the Bahamas would be
scrubbed from their map.

They had made the mistake of checking
into a Cable Beach hotel, which is now
undergoing considerable construction.
They were looking for peace and quiet and
hours of relaxation. This they didn’t get. As
soon as the early morning construction
crew reported for work, they were wak-
ened by drilling, hammering and the gen-
eral noise made when a building is under
construction.

They would then come downstairs for a
simple breakfast of coffee and a sandwich
for which, the husband said, they were
charged a “scandalous price.” As for ser-
vice — well as far as they were concerned,
it was just off the board, it didn’t exist.

The husband was angry. The poor wife,
heavy with child, was wilting. She was worn
out, and looked as though she needed a
good, long holiday.

All she said was: “Never again! Next
year we will go back to St Barts where we
can find peace and quiet and get a real
holiday.”

The other tourists in the line listened
with interest, some nodding their heads in
sympathy, others in apparent agreement.

The boost given this country by Travel
and Leisure will not help if on the ground
visitors do not find what the magazine has
promised.

Now that some of the airlines are drop-
ping their fares to attract visitors, hoteliers
will have to do their part in repackaging
their product. There are even some five
star restaurants that will have to send a
“product taster” in to check on their ser-
vice, which in some places is slipping. Even
visitors who can afford it want the stan-
dards for which they are being charged.

Tourism director general Vernice
Walkine has recommended that the
Bahamas repackage itself at a lower price
level if it wants to remain an affordable
vacation destination for Americans who
are affected by the softening of the US
economy. Her recommendations should
be taken seriously by those in the industry.
Remember the Bahamas now has serious
competition. It is no longer Numero Uno.















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‘06 TOYOTA YARIS





or Aboce Motor Mall, Don MacKay Blvd, 367-2916

FNM has
dashed hopes
of potential
homebuyers

EDITOR, The Tribune.

WE say it all the time: “If
America sneezes the Bahamas
catches the cold.” The implica-
tion being, that when Ameri-
ca’s economy turns sour, so will
ours. It should be reasonable
then, for us to expect our Gov-
ernment to mimic the United
States and follow their lead in
employing some, if not all, of
the measures they employ in an
effort to stem the impending,
economic erosion.

Given all of the above, why is
it then that Ingraham and Laing

’ have taken the decision to with-

draw the stamp tax exemptions
for first time Bahamian home
buyers, effective January 1, 2008
when at the same time the Bush

Administration in America is.
. proposing, right now, to give

American home buyers and all
other Americans some $150 bil-
lion in tax cuts exemption; all
this in an effort. to head off a
possible recession, which is
exactly what we should be
doing. I don’t know about other
parts of the Bahamas, but
Grand Bahama’s economy is in
shambles, and that’s putting it
mildly. It is heartless; to say the
least, that Laing and Ingraham
could sit in their offices with a
smile on their faces, while mak-
ing this terrible announcement.
This clearly shows, very vividly,
the distinction between the PLP
and the FNM. Bahamians
enjoyed five years, under the
PLP, where every first time
homebuyer received the stamp
tax exemption, for homes cost-
ing up to a value of $250,000.
The difference between the
PLP and the FNM is further
seen in the fact that the PLP

‘ promised that if it were

returned to office, they pledged
to increase that exemption to
homes and condos. Up to a val-
ue of $400,000. This meant a
savings to first time home and
condo buyers of around $25-
$30,000. The FNM has now can-
celled the exemption, and it is
clear now for all to see which is
the caring government

The FNM has, effectively,
destroyed the hopes and dreams
of hundreds of young and older
Bahamian potential homebuy-
ers. You should note that these
exemptions, heretofore, had no
affect on homes which were
purchased by people who were
not first time buyers, like me

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and Hubert Ingraham; nonethe-
less, it brought relief to thou-
sands of others; but Laing and
Ingraham said, no more free-
bees.

The adverse effect of this

decision doesn’t rest only on the.

homebuyer, but it also creates
economic hardship for small
contractors and small sub-divi-
sion developers.

This, am sure, is one of the
reasons why Mr Michael
Edwards, who is a developer of
a small sub-division, has spo-

ken out in the Freeport News -

on Wednesday, January 23rd,
calling on Laing and Ingraham
to reconsider their decision; of
course Mr Edwards knows that

that will only happen if hell

freezes Over. © --

The net effect will be a slow-
down in home buying; result-
ing in a slowdown in construc-
tion; resulting in sub-contrac-
tor layoffs; resulting in con-
struction workers being laid off;
resulting in further erosion of
the economy; and they Say
Laing is an Economist.

The average couple making
arrangements to buy a house
after January 1, 2008 should be
aware that there is, now, no
more exemption.

The 2 per cent or 4 per cent
or 6 per cent or 10 per cent
depending on: the value of the
house being purchased, will be
due and payable at the time of

purchase, thanks to your FNM
Government.

The FNM is treating you in
the same shabby way with
health care.

This was the month (Janu-
ary) that Dr Nottage promised
you that National Health Care
would have gone into effect,
had we voted the PLP into

“ office, but we didn’t vote the

PLP in office and so your
National Health Care went out
with the PLP.

You will recall that Ingraham
cast a single vote, on behalf of
him and his colleagues, for
National Health Care, but we
knew, at the time, that he did
that for one reason only, so that
no one could accuse him later of
voting against a measure, which
helps the péorest Bahamians.
As far as implementation, how-
ever, he will never do it, why?
Because his money backers
don’t want it and it is them who
pull his strings.
~ Michael Edwards has legiti-
mate concerns, which are bound
to impact the further develop-
ment of his sub-division.

This shouldn’t be Mr |
Edwards’ concerns only, but
ours also, for a slow down in
construction will affect the
entire economy.

What is so baffling is that
Laing and Ingraham seem to
take pleasure in making that
asinine, counter-productive,
decision. Those are my views.

FORRESTER J CARROLL
Freeport,

Grand Bahama,
January 24, 2008.

‘What happened to the

Public Disclosure Act?

EDITOR, The Tribune.

HAS the Public Disclosure Act been repealed and we have not

been advised?

Yes, we saw the financial disclosures of the election candidates,
however, isn’t it required of all MPs and Senators to make a full
financial disclosure every year and the disclosure is required to be

Gazetted (published)?

Hoping the chair of the Disclosure Commission will immediately
cause this to happen. It should be recalled this was not done

between 2002-2007!

CYNTHIA MOSS
Nassau,
January 19, 2008.

aire Witlgss
tal Pd FritterSar


THE TRIBUNE




Dy

‘The economy will g







yoo yea 2

et worse befo

$,LNiad Pi

re it gets better’

@ By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

BAHAMIANS are caught in the
grip of uncertainty regarding the
nation’s economic future and need the
government to explain its plan to deal
with the looming downturn, MP for
West End and Bimini Obie Wilch-
combe said yesterday.

“The economy of the Bahamas will
get worse before it gets better.

“We cannot sit idly by and wait and
see what happens in the US and blame

the economic fallout on our neigh-
bours”.

“Parliament must be told by the gov-
ernment what it intends to do to pro-
tect the economy.

“The government must come to the
country and explain just what it intends
to do as uncertainty grips the people,”
Mr Wilchcombe told parliament.

He was speaking during the debate
ona Bill for an Act to Amend the Cen-
tral Bank of the Bahamas and an
Amendment to the Banks and ‘Trust
Companies Regulations Act.

He said the government has failed to
reveal how the proposed amendment

will “help to boost the economy and
head off an economic meltdown over
the next several months”.

He noted that whilst a sluggish US
economy would lead to a “rippling
effect” on the nation, there are things
the country can do to “keep the econ-
omy afloat, save jobs and prepare for
the future.”

The challenge must be met by pro-
viding new jobs and opportunities for
the thousands of students graduating
annually along with those already on
the unemployment line.

An expansion of the financial ser-
vices sector in Grand Bahama also can

breathe new life into the island’s strug-
gling economy, he noted.

He criticised government for promis-
ing to bring “immediate relief” to
Grand Bahama’s economy upon enter-
ing office last May while they have yet
to reveal an “economic recovery plan”
for the second city.

“The FNM promised to bring imme-
diate relief to the economy of Grand
Bahama.

“When will the FNM economic
recovery plan for Grand Bahama be
crafted and revealed?

“The economy of Grand Bahama is
not showing signs of immediate recov-

THURSDAY, JANUARY 31, 2008, PAGE 5






ery. And in spite of (that) dire situa-
tion, the FNM government has now
decided to terminate some 40 Bahami-
ans from the urban renewal pro-
gramme (which) is nothing more than
‘political termination’.”

The former minister of tourism
claimed that while these 40 persons
were receiving their “pink slips” of ter-
mination, the ministry responsible was
employing FNM supporters to urban
renewal centres to take jobs that are to
end in June.

This fact is unacceptable in a modern
democracy, said Mr Wilchcombe.

MP SPEAKS OUT IN WAKE OF PINEWOOD ELECTION COURT CASE

ahamian electoral process needs
thorough review, says Wilchcombe

& By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

OBIE Wilchcombe has called
for a thorough review of the
Bahamian electoral process fol-
lowing the flaws in the system
which were revealed during the
Pinewood election court case.

Speaking in the House of -

Assembly yesterday, the West
End and Bimini MP questioned
why the government would be
“afraid” to call for “an inde-
pendent audit of and a thor-
ough review of the election pro-
ceedings.

“I urge the prime minister
and the government not to
ignore or dismiss out of hand
the recommendations made by
the justices of the Election
Court. Our courts serve a pur-
pose,” hy said.

“The prime minister and the
government should use the
oppor-unity to advance our
electoral process even further,”
said the ex-minister.

Mr Wilchcombe also noted



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that it has been more than 10
years since the last review of
the electoral process, which
resulted in the use of indelible
ink.

Parliamentary constituencies
should not be reconfigured

-within a 10-year period, as

boundary changes should for
the most part be predicated on
population growth, Mr Wilch-



combe added. He congratulated
MP for Pinewood Byran Wood-
side on being named the duly-
elected MP for the constituency
and praised defeated PLP
Allyson Maynard-Gibson for
exercising “her constitutional
right” in challenging the mat-
ter in court.

Following the Pinewood rul-
ing, the justices presiding over

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the case criticised the Parlia-
mentary Commission for fail-
ing to ensure the integrity of
the registration process in the
constituency.

' “This case exposed the most
egregious failures in the parlia-
mentary system,” said the jus-
tices on January 22.

Bishop Simeon Hall and
Stone McEwan, a secret ballot
campaigner, have also publicly
expressed the need for an inves-
tigation into the election
process.

The court threw a record 110
votes out ‘of the Pinewood
count.

These votes were cast by peo-
ple who the court determined
were not ordinary residents of
the constituency.

A recount revealed that Min-
ister of State for Youth and
Sports Byran Woodside won his
seat by 49 votes.

However, after the May 2
general election, Mr Woodside
was said to have won by 64
votes.

The PLP has two more elec-
tion court cases pending, with
Marco City scheduled for open-
ing arguments on February 18 .
and the Baillou Hills case slated &,
for April.



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PAGE 6, THURSDAY, JANUARY 31, 2008



LOCAL NEWS

Fathers rights activist

demanding explanation E
on Child Protection Act |

@ By BRENT DEAN
Tribune Staff Reporter
bdean@tribunemedia.net








FATHERS Rights Activist
Clever Duncombe is
demanding a more detailed
explanation from Minister of
State for Social Develop-
ment Loretta Butler-Turner
as to when the Child Protec-
tion Act will be made law.

Otherwise, said Mr Dun-
combe in an interview with
The Tribune yesterday, he
intends to launch a campaign
to agitate for her resignation.

The Act was passed more
that 14 months ago by the
previous parliament before
it was signed by the gover-





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business

nor-general. However, it was
not made law by the previ-
ous PLP government before
they were voted out of
office, and the FNM has not
yet brought it into force in
its eight months in power.

Why the Act has not yet
been made law, became the
source of heated debate
between Mrs Butler-Turner
and the former minister of
social services Melanie Grif-
fin last Wednesday in the
House of Assembly.

In response to a question
tabled weeks ago by Mrs
Griffin on the status of the
piece of legislation, Mrs But-
ler-Turner said the govern-
ment does intend to make

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the Child Protection Act law,
“on a date to be determined.”
She went no further in pro-

, viding a timeline for when

this will occur, but she did
criticise the former PLP gov-
ernment for not providing
the necessary regulations

needed to make the Act law. :
Mrs Griffin disputed the ;
necessity for such regula- ;

tions.

dren and the
fathers.

“And it’s discouraging, be Te
: PEANUTS TAYLOR with Spats, a 12-year-old male Wolfhound mix
: found on the Sandyport Bridge as a three week old puppy and

to find out that we have to : Chief, an 18-month-old male Potcake, found as a small puppy,

now experience another hur- ger a bush on Blake Road, with his three litter mates (all four
: found good homes.) Spats and Chief were both rescued and have

punishment for those who : made loyal and much loved family pets.

abuse children, and those }
who are aware of such:
crimes but do not report :
them, the legislation will also :
give the right of access to :
fathers of children born out :

when we believe that help
and hope is on the way, only

dle,” said Mr Duncombe.
Along with stiffening the

of wedlock.

Currently, these fathers :
have financial duties and :
responsibilities in regard to :
their children, but no right :

of access. In disputes, the } SAciety asa wee rach
courts determine visitation : P 7. los has oledesa hi
rights between the parents, } See a cnet oreo
but the mother is the custo- : PPS ead :
: responsible animal ownership

Another innovation of the pau eel by “drumming
Act is that the age of crimi- : Be
ee man a : in the Bahamian music world,
: ; : famous for his amazing ability
Mrs Butler-Turner was out | t0,communicate his artistic
of office when The Tribune | SP peep he wemune et
Atediated tg. reaeho her for. drums and he is about to share
‘ P : his passionate care for animals

Mr Duncombe told The } eee a Sa medium,”
Tribune that his campaign to } oe eee Soci-
have this measure made law i y :

dian.

10 years old.

comment.

is not political.

said.





SG
Private Banking
as ae

Mr Duncombe said yester- :
day in an interview with The :
Tribune that “successive :
administrations” have not :
been serious enough in the :
protection of Bahamian chil- :
rights of }

THE TRIBUNE







Peanuts drums
for the dogs

THE Bahamas Humane

“Peanuts is an iconic figure

Stephen Turnquest, the soci-

Both governments, and | ety s director of operations,
a : : said “Peanuts Taylor, as well
both ministers responsible — : Ae Heine a. well lio wah enter
Mrs Butler-Turner and Mrs : °°. 8
+ eee . 4 : tainer, is a thoughtful and con-
Griffin — have been negligent : * :
: : : ite ; siderate man and his compas-
in ensuring that the legisla- : ©.
Saas = . : : sion sets a perfect example for
tion is brought into force, he : : Z
5 : Bahamians who own animals.

i We are delighted to have

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Peanuts as a member of our
team and we are looking for-
ward to appearances which he
will make for the BHS through
the coming months”.

Peanuts’ first appearance
drumming for the dogs will be
at 1lam tomorrow in Rawson
Square where Governor Gen-
eral Arthur Hanna, patron of
the Humane Society, will open
the society’s raffle.

The general public is invited
to come and attend the event
and see the legendary Peanuts
Taylor play the drums with
some young drummers.

The raffle is the society’s
biggest fund raising event, on
which they rely for a substan-
tial part of their income.

Peanuts Taylor supported
the raffle last year by buying
tickets and was the lucky win-
ner of British Airways tickets
to London.

He said he is pledging his
support to promote responsi-
ble animal ownership because
“animals are a very important
part of our everyday life.

“Having a pet can complete
a home, and bring the owner
great happiness. It is impor-
tant to encourage and teach
people to treat animals with
kindness and respect. I am
delighted to be able to assist
the Bahamas Humane Society
in getting the message out to
the people of the Bahamas,”
he said.

RoyalStar
Assurance

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e. sanpin@coralwave.com eview programmes and information on our website

REY Parc isis aclr


THE TRIBUNE THURSDAY, JANUARY 31, 2008, PAGE 7

LOCALNEWS.

Culture Minister stresses importance of.



Claim that stigma.

still surrounds
people with =
lisabilities

m By XAN-XI BETHEL

THERE continues to be a stig-

ma surrounding people with di

abilities in the Bahamas said Sonja :
Rolle, vice principal of the Centre :

for the Deaf.

She said Bahamians are still :
afraid to make an effort to open }
“the avenues of communication” :
and include all members of soci- :

foreign country, they

in order to move forward with :
change in the struggle to deal with :
disability in our society,” she said. :

Ms Rolle said that discrimina- :
tion against those with disabilities :
extends to the working world. Few :
employers are willing to hire deaf :
people for fear that they will not be :
able to communicate, thus making :
the person a liability rather than }

ety.
“We must re-tool and re-train

an asset, she said.

However, Ms Rolle said this :
assumption is simply mistaken: deaf :
people are capable of performing at :
a high level in a number of jobs,
and the community should make :

an effort to accommodate them.

Thus far, few students from the }
Centre for the Deaf have gone on }
to pursue a tertiary level educa- :
tion. The ones that have report :
extreme difficulty in getting a job :
even after earning a degree, Ms }

Rolle said.

She said one student went to }
school in the United States and } said at
received an associates degree in i Toyrism Week Tourism
computer graphics. Now, back at } T M tne T ao
home, she struggles to find a job : hie Pern Ob onery
in her field of interest. As a result, 28. “It has to be more than
she and others end up depending
on family members and working :
menial jobs in order to support :
I ; : Bahamas has a rich history
_ Ms Rolle said there are some ; which is intertwined with
signs of change, as the government :
has begun to hire people with dis- :
abilities, and has been joined by :
one or two other business owners :
“who realise that these people are :
capable of doing the job efficient- :

themselves.

ly”.

integral part of the school system.

She also said thateall teachers :
should be equipped with the skills
to communicate with all students, :

regardless of whether or not they ; 7
: pendence.

have a disability.

In addition, Ms Rolle expressed :
concern about the television news ;
not being interpreted for the deaf. -:
She said deaf people are locked in :
a world of silence and “the country :
is making very little effort toward :

change.”

centre.” said Ms Rolle.

MANUFACTUR



She suggested that sign language :
be offered as a course at the Col- :
lege of the Bahamas and made an :

a uniquely Bahamian tourism product



“When people travel
from far distances, pay
a lot of money to visit a

expect it to be foreign.”



m@ By ERIC ROSE
ALTHOUGH the

Bahamas has “fine” inter-,

national partners and
developers, the public must
understand the important
role Bahamians play in the
development of the coun-
try’s tourism product, Min-

ister of State for Culture.

Charles Maynard said.
“We still have to appre-
ciate what is special about
the Bahamas,” Mr Maynard
the National

the fine hotel properties,
the sun, sand and sea.”
For example, he said, the

that of other countries, par-
ticularly the United States.

Vital

“The Bahamas played a
vital role in their indepen-

“dence,” he pointed out.

“We have places in the
Bahamas still in tact, his-
torical sites that tie direct-
ly to their struggle for inde-

Mr Maynard said these
historical linkages should
be used in selling the
tourism product.

He pointed out that
American tourists would

She also expressed concern for : gladly want to visit such
the shortage of teachers and facili- Ves y :
ties for the disadvantaged in gen- ; built-in market for future
eral. “We got news that the school :
is being moved to make space for :
the new T G Glover primary
school. However, we haven't heard :
anything else from the government :

in regard to a new location for the : we do not realise that that

sites and this could be a

ventures.

“But we let bushes grow
around them and we just
pay no attention because

Charles Maynard

is a diamond-in-the-rough,”
Mr Maynard said.

“We could go on and on
listing the historical things
that are significant to our
neighbours in the north and
we would find that there
are significant sites, places,
traditions, even, that tie
directly to their history and
we are not taking advan-
tage of it.”

Mr Maynard said. the
Bahamas has a unique cul-
ture which must be appre-
ciated and preserved.

“When people travel
from far distances, pay a lot
of money to visit a foreign
country, they expect it to
be foreign,” Mr Maynard
said. “I’m sure they are
happy to see that thére is a
McDonald’s and a Burger
King here, because it some-
thing they can relate to; but
they would be happier to
taste the cracked conch or
the fried fish or the conch
salad or the things that we
enjoy as Bahamians.”

Mr Maynard emphasised
that Bahamian musicians
and artists must be high-
lighted, and local culture in
general must be more
enthusiastically preserved.

“Now we cannot blame
the Ministry of Tourism.
We cannot blame the goy-
ernment. We have to blame
ourselves,” Mr Maynard
said. “We are in the
tourism business. We — not
the government, not the
Ministry of Tourism, but
the Bahamian people
everywhere. It does not
matter where you work, the
fact is that you are a part of
the business: so you have
to play your role in that

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needs to play a role in that
business.

“The real enhancement
has to start with the
Bahamian society,” Mr
Maynard said. “We have to
realise what business we
are in. That is where cul-
ture, heritage and history
comes into our tourism
product.”

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PAGE 8, THURSDAY, JANUARY 31, 2008 THE TRIBUNE

SEA TRAINING EXERCISE





The Royal Bahamas Defence Force’s HMBS
BAHAMAS carried out a training exercise at
sea. It demonstrated how officers could be
deployed into the water without stopping the
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PAGE 10, THURSDAY, JANUARY 31, 2008 |
Housing programme stopped

FROM page one

“The housing programme has come to a
halt in the face of the financial woes of the
Bahamas Mortgage Corporation and the
Department of Housing,” he said.

The minister said that the former PLP
administration’s “aggressive attempts” to build
houses in 24 subdivisions in New Providence
and in some Family Islands, “as well as on
scattered sites in New Providence,” have
resulted in the availability and readiness of
the houses surpassing the legal requirements
for the Bahamas Mortgage Corporation and
other lending agencies.

Mr Russell explained that funds for the
advancement of government’s housing pro-
gramme traditionally comes from the Bahamas
Mortgage Corporation.

“Before May 2002, the Mortgage Corpora-
tion pursued a policy that would not permit
the development of any land until and unless
that land was vested in the Minister responsi-
ble for Housing, whe would then: lease such
land to'the Bahamas Mortgage Corporation,”
he said.

Mr Russell said that the previous govern-
ment built numerous subdivisions, including
Perpall Tract and Pride Estates, but failed to

vest clear ownership of the land in the Minis-
ter of Housing — therefore preventing the
mortgages to be executed by the Bahamas
Mortgage Corporation. .

As it concerns the subdivisions of Perpall
Tract and Pride Estates II], the minister said,
a total of $2.3 million has so far been spent on
infrastructure and construction without any
returns to the Bahamas Mortgage Corporation
through the payment of mortgage fees.

Without clear ownership of the land, he
said, conveyances cannot be prepared and the
Bahamas Mortgage Corporation cannot recov-

er money spent on the development through i

mortgage payments.

The minister said that the government is
now actively seeking to correct this situation
by providing the Bahamas Mortgage Corpo-
ration with some funds to continue the hous-
ing programme once all other mechanism are
in place,” he said.

Mr Russell was speaking to the tabling’ of
two resolutions which convey 11.8 acres of
land in Perpall Tract and 23.91 acres of land in
the Pride Estates III subdivision to the Min-
ister of Housing.

The resolutions conveying land to the min-
ister and National Insurance will enable mort-
gages to be prepared for all completed hous-
es in the subdivisions, he said.



~~ v
Nassau Airport

Development Company

ANNOUNCES PARKING IMPROVEMENTS

FROM page one

Christie had initiated the stamp
tax exemption during his gov-
ernment’s tenure in government
for first time homeowners
whose homes were valued up
to $250,000.

After the exemption expired
on December 31, 2007, the gov-
ernment came under fire from
realtors, construction workers,
and would-be homeowners for
not extending the tax break.

PLP MP for Fox Hill Fred
Mitchell said that government’s
decision to not extend the law is
“simply wrong” and “muddle-
headed.”

Mr Mitchell said that this
“single act” by the FNM will
now cause many‘would-be
homeowners to have to post-
pone their dreams of owning a
home in the Bahamas as they
now may find it difficult to raise
the extra funds to pay this tax
on their house.

Mr Mitchell said he listened
to government speak about the
Internal Monetary Fund (IMF)
cautioning the Bahamas that it
should not extend the tax
exemption. Not only did Mr
Mitchell question whether the
IMF had actually made such a







THE TRIBUNE

Opposition hits out in the
House over discontinuation
of tax exemption

suggestion, he said it made little
difference if they had as the
Bahamas was not run, or gov-
erned by the IMF.

“I recall a meeting with the
former Prime Minister and MP
for Centreville and Farm Road
had with President (George)
Bush. One of the first things the
US President said to us was how
much he disagreed with the
IMF’s prescriptions on fiscal
prudence — this is the US Pres-
ident talking now.

“Clearly, the exemption
primes the pump and is neces-

sary to keep the economy alive. .

So the decision not to renew it is
clearly muddle-headed, and
wrong,” he said.

Mr Mitchell acknowledged
that the former PLP govern-
ment had only put the exemp-
tion in for five years. However,
he said that an executive deci-
sion by the government could
easily extend it. Also, he added,

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the five-year lifeline for the
exemption was intentionally
done so that if necessary, the
tax break could be reviewed
and adjustments made to fit the
economy.

“When you look, Mr Deputy
Speaker, at all that is being
done overseas, when you look
at the American government to
provide liquidity in the econo-
my, and this government does
nothing.

“No low interest rates, no tax
exemptions, only going over the
books to attempt to rewrite his-
tory. ,

“So, Mr Deputy Speaker, a
housing policy must support the
development of a middle class,
and must provide for the poor
who cannot provide for them-
selves. It must assist with the
support and development. of
family life. Unfortunately that is
not the way it is going on as we
know it,” he said.



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The Nassau Airport Development Company (NAD) is working hard
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domestic/ international lot to create increased parking capacity and
improved customer service. Since April parking capacity has been
increased by close to 100 spaces in the domestic lot. Furthermore,
i we have reduced illegal parking and.introduced a new. overflow lot
with shuttle bus service to both the domestic/international and U.S.
terminals. And this is just the beginning! We will continue upgrading
and expanding facilities and looking for new parking services to
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Please note these Important Changes:

4. There will also be a small $1
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from $8 to $9 for the regular parking
lots.

4. All parking meters will be
removed. There will be NO
PARKING OR WAITING allowed at
the curbs, only drop-offs or pick-ups.

5. After one day, the same daily rate
structure will apply for all subsequent
days. For example, parking fees for

1 day and 1 hour in the regular lots
would be $12 and fees for 2 days
would be $18.

2. Anew short-term parking lot will
be introduced with low rates (lower
rates than current parking meters)
for the first 2 hours to accommodate
those waiting for arriving
passengers. However, after the

first 2 hours rates will then increase
quickly at $2 every 20 minutes with a
possible daily maximum of $30.

6. Amaximum weekly rate of $45 is
being introduced.

7. The rate in the Overflow lot will
remain at $5 per day or part thereof.
The overflow lot is only opened when

the other lots are full.

3. For both regular lots (domestic/
international and U.S.) the regular
hourly rate after the first hour will
increase from $1 to $3, the same as
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THE TRIBUNE

LOCAL NEWS. ,

National Tourism Conference
to scrutinise the industry

TOURISM leaders and con-
cerned members of the public will
gather today to scrutinise the
tourism industry in a series of meet-
ings and discussions at the Nation-
al Tourism Conference.

The conference, considered by
the government to be a critical
component of National Tourism

- Week, “will allow the Bahamas to
give its most focused attention on
important industry developments,”
according to the organisers.

The conference, which runs the
entire day, will be opened by Prime

Minister Hubert Ingraham at the
Wyndham Nassau Resort and
Crystal Palace.

Mr Ingraham’s address will
come two weeks after the opening
the Caribbean Hotel Association’s
Marketplace on Paradise Island,

and just days after concerns were
again expressed over the growth
rate of tourism in the Caribbean.

Mr Ingraham’s address is set
against the backdrop of a weak US
dollar and a mortgage crunch in
the United States, which is the
Bahamas’ largest tourist market.

The conference will also hear
from Dr Peter Yesawich, one of
the world’s foremost authorities on
marketing, advertising and public
relations.

Dr Yesawich, who has been
named one of the “25 most extra-
ordinary marketing minds” by Hos-
pitality Sales and Marketing Asso-
ciation International, will address
the topic, “Emerging lifestyles and
travel trends: Implications for mar-
keting the Bahamas.”

During the conference’s after-

noon sessions, members of the pub-
lic will have the opportunity to
meet CEOs of major resorts and
tourist facilities. The CEOs will
make presentations on planned
developments.

@ CONFERENCE

SCHEDULE

e Thursday, January 31 — Wyn-
dham Nassau Resort. Conference
opened by Prime Minister Hubert

- Ingraham at 9am

e “A Fresh Perspective”, update
on unfolding tourism initiatives at
liam.

e Lunch presentation by Peter
Yesawich at 12.30pm.

e Tourism Business Marketplace
with CEOs of tourism, 2pm to
5.15pm.

US AMBASSADOR to the Bahamas Ned Siegel paid a court



ment Sidney Collie at the ministry’s office yesterday.

US Ambassador pledges to
continue literacy programme



Patrick Hanna/BIS

esy call on Minister of Lands and Local Govern-

_ for only

US AMBASSADOR Ned Siegel pledged to
continue the literacy programme in schools that
was started by his predecessor John Rood.

Mr Siegel told the Minister of Lands and Local
Government Sidney Collie yesterday that US
Embassy staff and his wife Stephanie also plan on
taking the programme to the Family Islands.

“Today I have my first reading at Woodcock
Elementary at 11.45am, and I already have my
book picked out and look forward to reading to

the second grade,” Mr Siegel said.

“Without question the literacy programme
must be a commitment of this embassy, and will
be a commitment of this embassy. Mrs Siegel
plans with the embassy and myself to take it
beyond New Providence.”

Mr Collie said it is important to get children
reading while they are young, as literacy can help
counteract the anti-social problems found in many
junior high schools. :

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THE TRIBUNE



National forensic lab and formal plea-bargaining

‘are needed to enhance the justice system’

FROM page one

Mr Bell continued: “Now
for years we were asking for
a forensics lab — a fully
functioning forensics lab.
And this is something which

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times used to commit
repeated crimes, such as
murder.

’ A formal plea bargaining
system is also needed “as
quickly as possible” said Mr
Bell. This system would

8)

Kenneth Lloyd Sym nette, Sr.

Aug. 25,1924 - Dec. 13, 2007

We continue to be comforted by your
outpouring of love, support and expressions of
_ sympathy during our recent bereavement.

M y God bless you always!

The Family

allow prosecutors and
defendants to negotiate the
charge to which a defendant
pleads guilty, in exchange
for sentencing discounts.
Though no such formal leg-
islative process exists in the
Bahamas, President of the
Bahamas Bar Council
Wayne Munroe, in an earli-
er panel at the forum yes-
terday, noted that currently
there is no barrier to plea
bargaining in the Bahamas.

In presenting some statis-
tics to the forum yesterday,
which was held at the
Hilton Hotel on Bay Street,
Mr Bell said that there are
some 80,000 warrants out-
standing in his office.

In 2007, he also revealed
that 8,715 cases were
brought forward in the mag-
istrate’s courts. Some 3,678
criminal cases were received
in these courts, with 2,598
cases coming to completion.
Overall, he said, through
2007, 9,795 criminal cases
are still pending before the

magistrate’s courts.

In addition to this num-
ber, there are some 48,000
traffic cases before the
courts, said Mr Bell yester-
day.

“The reality of the situa-
tion, ladies and gentlemen,
even though we know our
rate of recidivism is pretty
high in the Bahamas - at
least a third of our popula-
tion is offending — it means
that we have to look seri-
ously at our criminal justice
system to determine the
way ahead,” he said.

From the year 2000 to
2007 there have been some
484 murders in the
Bahamas. Mr Bell reported
that the detection rate of
police for this crime fluctu-
ates between 75 and 83 per
cent.

In offering additional
reforms to the current judi-
cial system, Mr Bell said
that methods of restorative
justice should be encour-
aged between parties in dis-

pute to ensure that matters
can be resolved before they
come to court.

There should also be the
expansion of fixed penalty
notices to include minor
offences, continued Mr Bell.
This would allow police to
issue fines for matters other
than traffic offences, poten-
tially reducing the court
backlog.

Mr Bell said that he has
warrants in his office that
date from 1975. Conse-
quently, there needs to be
case review, and for certain.
matters, the attorney gen-
eral should be asked to

_ exercise her constitutional

authority and end these cas-
es, he said.

The creation of special-
ized courts; the appoint-
ment of additional magis-
trates and judges; and the
continuous amendment and

review of relevant legisla-:

tion related to the justice
system, were also suggest-
ed by Mr Bell.

Nassau drugs comment on
travel blog gets mixed reaction



FROM page one

Yesterday, visitors to the site pointed out that
the Bahamas is not alone in having drug pushers on
its streets, with one further suggesting that if it were
not for the level of demand for such drugs among
tourists the prevalence of persons offering them
would not be so significant.

Reader Tim McDonald commented that he had
the “same thing” that Mr Baldwin described hap-
pening to him in Nassau in the Virgin Islands,
Kingston Jamaica and Port of Spain, Trinidad.

“Actually, pretty much anywhere I've visited or
lived in the Caribbean, you can get dope like in the
U.S. you'd go to a convenience store and. get a
Snickers,” said the site visitor.

Another reader, Kiel Christianson, recalled visit-
ing Jamaica in the 1980s and “being offered weed by
the guy helping get our bags off the carousel in the
airport. Then by the taxi driver. Then by the guy at
the hotel. Then every few yards on the street.”

While one visitor posted a comment asking why
Mr Baldwin wanted to “discredit the entire

XCOdianney

WN

TC

™E®Q{AE

Bahamas”, another, identifying himself as Drew,
said that Mr Baldwin was not “attacking the
Bahamas” if the information he was giving was true.

“Tam a Bahamian and J live in the Bahamas and
while I am not surprised at this episode, I think it’s
fair to point out that this little incident is another
case of simple economics. Supply and demand,”
said Drew.

“Being an islander who used to offer help to vis-
itors lost and having given rides to complete
strangers at zero cost ever only to be asked if I have ‘
any weed or know where they can score some coke,
can you really blame some enterprising individual
with poor values for going corporate with his drug
sales? Maybe people in the islands and in the other
seedier locales will stop offering North Americans
drugs when the gringos stop asking for them,” he
said.

On Tuesday, Chairman of the Nassau Tourism
Development Board Charles Klonaris said that
while the Tourism Policing Unit was created to deal
with occurrences such as this, the unit’s effectiveness
is undermined when such incidences go unreported
by those who experience them.

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THE TRIBUNE

THURSDAY, JANUARY 31, 2008, PAGE 13










criticises
Bush's State
of the Union

mi HAVANA

FIDEL CASTRO called Pres-
ident Bush's State of the Union ;
address a new low point in “dem-
agoguery, lies and total lack of :
ethics” in a commentary pub- :
lished Wednesday, according to }

Associated Press.

The ailing 81-year-old leader :
wrote that “Bush tells us more :
with his external expressions than :
with the words written by his }
advisers,” but added that “for a :
population that knows how to }
read, write and think, nobody can :
offer a more elegant criticism of

the empire than Bush himself.”

© Castro and top Cuban officials:
rbutinely refer to the United :

States as “the empire.”

In Wednesday's essay, called
“The Antithesis of Ethics” and }
published on the front pages of :
government newspapers, Castro :
said Bush’s latest speech was }
worse than earlier State of the |
Union addresses: “the worst for
its demagoguery, lies and total :

lack of ethics.”

Quoting extensively from :
Monday’s address, Castro }
accused the Bush administration :
of running up U.S. débt and said :.
Washington's wars have }
increased military spending :

worldwide by 60 percent.

Castro wrote that the U.S.-led_ :
war in Afghanistan “was the }
same thing that the U.S.S.R }
wanted to do, occupy the country :
with its powerful armed forces }
that were ultimately defeated }
when they ran into its customs, }
religion and cultural differences.” :

He said Bush used the Sept. :
11 terrorist attacks as an excuse }
to invade Iraq, and that “no one }
in the world doubts the objective }
was to occupy (Iraq’s) oil instal- :
lations and has cost that coun- :
try’s people hundreds of thou- :
sands of deaths and millions dis- :

placed from their homes.”

Castro has not been seen in }
public since undergoing a series |
of emergency intestinal surgeries :
and stepping aside as president in :
favor of his younger brother Raul :
in July 2006. He is recovering :
from an undisclosed illness in a }
secret location, though life on the :
island has remained little-.:

changed in his absence.

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LOCAL NEWS

Search for armed robbers
after two separate incidents

year-old male resident of East
Street is in police custody in
connection with the discovery
of an illegal firearm and
ammunition.

Officers from the Mobile
Division executed a search
warrant at a house in
Brougham Street off East
Street at around 5.50am on

ots

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=
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outside their home in the
Snglerston area.

Around 10.30pm, the 35-
year-old man and his wife
were arriving home when two
masked gunmen described as
“dark skinned” and clad in

POLICE are on the look-
out for armed robbers who
accosted three persons in two
separate incidents.

Shortly after 7pm on Tues-
day, a 41-year-old man was
sitting in his car in the Cable
Beach area when he was _ dark trousers and white shirts
approached by a dark man approached and demanded
who brandished a handgun. cash.

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The culprit, who was report-
edly wearing dark clothing,
demanded cash.

He fled the area with a
small quantity of cash stolen
from the victim, police said.

A few hours later, a couple
was robbed of an undeter-
mined amount of cash while

The wife was robbed of cash

believed to be the property of

a church and the husband was

robbed of a small quantity of

personal cash, police say.
The two robbers fled the
area. Police are actively inves-
tigating both incidents.
In other crime news, a 29-

Wednesday, police said.

Inside a bedroom, the
officers found a chrome and
silver .45 handgun along with
eight live rounds of ammuni-
tion.

A 29-year-old man is cur-
rently helping police with their
investigations.

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THE TRIBUNE






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LOCAL NEWS

FROM page one

two nannies who are also listed as witnesses in the
matter,

The inquest into the death of Danicl Smith, 20, the
son of late reality TV star Anna Nicole Smith con-
tinued yesterday as real estate developers G Ben
Thompson and his son, Gaither Ben Thompson II,
were called to testify.

The elder Thompson told the court that he first
met Anna Nicole Smith and her son, Daniel, in 2005
at the Hard Rock Hotel and that over time he and
the two became friends. Mr Thompson told the
court that on Saturday, September 9, 2006, he was
informed that Anna Nicole had had a baby and as a
result he and family members, including his son-in
law, Ford Shelley, came to the Bahamas.

Mr Thompson told the court that when they
arrived in Nassau they went to Doctor’s Hospital
where they met Anna, the new born and Howard
Stern. Mr Thompson said that he also saw Daniel
that day, as Howard Stern went to pick him up from
the airport and brought him to the hospital. Mr
Thompson said that Daniel was “all smiles” and
was happy to see his mother and his new born sister.
Mr Thompson said that Daniel looked a little pale,
although he attributed this to the fact that he stayed
indoors a lot. He told the court that he left the hos-
pital about an hour after Daniel arrived.

Mr Thompson said the next day he received a
call from Howard Stern who said he had to come to
the hospital immediately. Mr Thompson said he
sped to the hospital and it was there that he was
informed by a hospital official that Daniel had died.
Mr Thompson told the court that he went to Anna’s
hospital room and found her lying partially on the
bed screaming while holding onto her son. Mr
Thompson told the court that he stayed at the hos-
pital until Anna and the baby were discharged.

During questioning by lawyer Milton Evans, Mr
Thompson told the court that he had come to know
Daniel very well. “He was a nice kid,” he told the
court while describing Daniel as generally a quiet

FROM page one

Daniel Smith

person.

Mr Thompson also said that following Daniel’s
death Howard Stern took at least four pictures of the
deceased saying that they might be worth some
money one day. Mr Thompson said that he was sur-
prised by the comment. Lawyer Shaka Serville, who
appeared on behalf on Stern’s lawyer, Wayne
Munroe, asked Mr Thompson why he had never
told local police what Stern had said. Mr Thompson
said that during that time he did not go into as much
detail as there were many things he did not tell the
police at the time. Mr Serville suggested to Mr
Thompson that he had never heard Stern make
those remarks. Mr Serville also-suggested that Stern
took the pictures to prove that Daniel had in fact
died. “It could be,” Mr Thompson replied.

Gaither Ben Thompson II told the court that
while at Horizons in September 2006, he removed
from a van clothes he identified as Daniel’s, a cap
and a suitcase belonging to the deceased, after
Howard told him that he could bring them inside the
house.

Mr Thompson II told the court that he took the
items into the master bedroom and put them on
the bed. He said that he, Stern and Ford Shelley
opened the suitcase. Mr Thompson II said he saw
two white egg-shaped pills in Stern’s hands, although
he could not say how he got them: Mr Thompson II
said that Stern went into the bathroom and came out
a few minutes later saying that he had taken care of
“the problem.”

During cross-examination by lawyer Milton
Evans, Mr Thompson II told the court that he saw a
bottle of methadone in the Horizons home in Feb-
ruary of 2007. Mr Thompson II said that there was
a prescription on the bottle. He told the court that he
took a picture of the bottle.

The Daniel Smith inquest was adjourned to
March, 17, 18 and 20.

to be here to take us to universi-
ty status.”

not complying with the spirit of
the Industrial Agreement signed
in May 2006 with its members.

“There are a number of issues
that have persisted for some time
and, despite many meetings much
written correspondence and even
the filing of some trade disputes,
these matters are not being
resolved,” said the release.

“UTEB has tried to meet and
talk with, administrators but key
issues affecting faculty and the
basic principle of negotiating in
good faith are being violated,” it
claimed.

UTEB claims that manage-
ment is “creatively interpreting”
fundamental clauses of its indus-
trial agreement, including those
relating to class size and faculty
work load, thereby
“manipulat(ing),
misinterpret(ing), misapply(ing)
and disregard(ing)” the agree-
ment,

The union asserted that faculty
are being “let go without just
cause” at the college, as it strives
to attain university status.

A search to find faculty with

COB

Ph.Ds, a requisite aspect of attain-
ing this status appears “outweighs
the national imperative” and is
causing Bahamians with masters
degrees “to be denied employ-
ment,” claimed the union.

Another major source of dis-
gruntlement is the lack of a pro-
motional exercise at the college
for “over six years”.

A suggestion allegedly made
by the College Council that the
decisions of the promotions board
should be sent to the President,
Janyne Hodder, before being for-
warded to the Council for ratifi-
cation, has drawn ire.

UTEB condemned the sugges-
tion, stating that it would allow
Mrs Hodder to “possibly nullify-
ing the recommendations of what
was supposed to be an
autonomous board.”

UTEB said it is “confused as to
the position that the President
(Janyne Hodder) is taking as she
is coming from a North American
university which has a peer-
reviewed, transparant process for
promotions, and she is supposed

The release went on to state
that research at the college “con-
tinues to lack direction and pur-
pose.”

Faculty members of the
research unit are said by UTEB
to be suffering adverse working
conditions and “uncertainty about
their career path.”

“The matter has been brought
to the attention of the president,
who has made no effort to recog-
nise the concerns being expressed
by the research faculty,” UTEB
claimed.

UTEB additionally charges
that faculty within the College’s
Continuing Education centre —
despite being crucial to the
“development of those of our stu-
dents who graduate with less than
the required five BGCSEs for
admission to the college” — are
“treated like second class citi-
zens” and are refused permission
to join the UTEB bargaining unit,
in apparent conflict with an Inter-
national Labour Organisation
convention.

. The Tribune was unable to
reach the College of the Bahamas
for comment yesterday.

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THE TRIBUNE





© In brief

Frustration in
Grand Bahama
over cellular

service woes

@ By DENISE MAYCOCK
Tribune Freeport
Reporter

dmaycock@tribunemedia.net

Grand Bahamians experi-
enced interruptions in GSM cel-
lular services for several hours
this week, leaving many sub-
scribers frustrated.

“The system is just not reli-
able — the service is terrible,”
complained a COB student who
was unable to make a call on
her cellular phone on Tuesday.

The Tribune contacted the
BTC office in Freeport to
inquire about the interruption
in service, however, no one was
available in the public relations
department.

Henry Romer, general man-
ager at BTC, Freeport, did not

return our calls up to press time. —

It is believed that the inter-
ruption in the GSM cellular net-
work system in Grand Bahama
could be the result of act of sab-
otage in connection with the
work stoppage in New Provi-
dence.

The interruption lasted for
the entire morning and service
was restored some time around
lpm on Tuesday.

Cable Bahamas also experi-
enced interruptions in its inter-
net service in west Grand
Bahama as a result of a power
outage in the area on Sunday.

According to Edris Wilson,
general manager at Cable
Bahamas in Freeport, the inter-
ruption in internet service was
limited to the Bootle Bay area
and occurred just before 10am
on Sunday.

Ms Wilson explained that the
lapse in service was caused by a
problem experienced by the
Grand Bahama Power Compa-
ny.

She explained that when
power was restored, there con-
tinued to be no cable service,
because the surge had damaged
Cable Bahamas’ power supply.

“Once discovered..:our tech-
nical team got right on it and
service was restored by 2pm on
Sunday.

“On Monday, the internet
service was out for just an hour
so that our team could carry out
maintenance and complete
repairs,” she said.

WV

‘Parmesan
Chicken
and.Rice’

THE Ministry of Tourism and
Aviation has rejected claims that
it has treated Bahamian musi-
cians unfairly.

This follows a complaint .by
some musicians that individual
local artists were overlooked for
the Cacique Awards this year, in
favour of the Royal Bahamas
Defence Force Band.

“The Bahamas Ministry of
Tourism fully supports the fair
treatment and comprehensive
representation of Bahamian
entertainers, musicians, artists
and artisans,” said the ministry
in a statement. “These groups
represent integral components
of our tourism product, as they
are the very elements that dis-
tinguish the islands of the
Bahamas from our regional
competitors.”

The ministry said it has
demonstrated its support
through the hundreds of thou-
sands‘of dollars that it has spent
over the years flying contingen-
cies of Bahamian entertainers,
musicians, artists and artisans
around the world to events and
occasions “ranging from black-
tie sophistication to the down-
home performances that can






















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ARTISTS ‘OVERLOOKED FOR CACIQUE AWARDS’

Ministry rejects claims of untair
treatment of Bahamian musicians

only be found in our islands.”

“The ministry has been con-
sistent in its effort to expose
such jewels of the Bahamas to
the rest of world and likewise
expose the world and the oppor-
tunities that go along with it, to
professional and aspiring
Bahamian talents of the full
range of art forms,” the state-
ment said.

It noted that domestically, the
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range of Bahamian talent” that
it has hired for international,
national and local events that
government hosts throughout
the Bahamas: “Such support is
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of the Ministry of Tourism.”

The ministry went on to note
that the Bahamas is unique in
that its two armed forces: the
police and Defence Force, boast
hugely talented musicians and
entertainers in their ranks,

It said the Royal Bahamas
Police Force Band is world
renowned and the popularity of
the Defence Force’s Band is
steadily growing through the
increased exposure they are per-
mitted, particularly at events as








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THURSDAY, JANUARY 31, 2008, PAGE 15



important as the Annual
Cacique Awards.

“Performances by the coun-
try’s police and Defence Force
bands, at home and abroad,
always tend to imbue a special
sense of pride in our people, and
the Ministry of Tourism’s use
of the Defence Force Band dur-
ing the Annual Cacique
Awards, a black-tie affair, and
the industry’s biggest night
where the best and brightest
take centre stage, is the min-
istry’s own vote of confidence
in the band and demonstrates
just how highly it regards the
group’s hardworking musicians.
It is merely a continuation of
the ministry’s efforts to ensure
that such talent is duly granted a
national spotlight, and a demon-
stration of the tourism ministry’s
prerogative to do precisely
that,” the statement said.

It said the Ministry of
Tourism and Aviation stands
firmly by its record.

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‘LOCAL NEWS”

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/ Proficiency in time management, planning and
organizing

/ Computer literate
/ Self-motivated team player

/ Previous experience in pharmaceutical detailing
would be an asset

Candidates should possess a reliable motor vehicle, be
willing to travel to the family islands, to the U.S., and other
foreign countries.

Please send application letter and resumé
by February 6th, 2008 to:

MEDICAL REP
P.O. Box N-7504
Nassau, Bahamas
or Fax: 393-0440

We thank all applicants for their interest, however;
only short-listed candidates will be contacted.



An established paving company is presently considering
applications for the following:

OFFICE MANAGER

This position is open to candidates with the following
qualifications:

* 3-5 year previous administration, office management and
customer service related experience;

+ Proficiency in Microsoft Word, Excel, PowerPoint and
QuickBooks;

* Knowledge of accounting and general office procedures is a
must.

Personal attributes

Must have the ability to identify priorities and meet deadlines in
a timely manner;

Able to work independently on projects and also collaborate as

a strong team member;

- Must keep up to date on all issues and trends affecting their
area of responsibility.

All interested applicants should fax a cover letter and their

resume to 361-1469 or email recruitmentbahamas@qmail.com.

Application close on February 7, 2008

Only suitable applications will be acknowledged.



le

bop Lp Ai ie . ctt AeDSLett LE BR DOM AAO AOL Ae a EI Aa MMi wales Tilt Edie at) Na 8s teas Silay lant psntislit eb Shane
THE TRIBUNE THURSDAY, JANUARY 31, 2008, PAGE 17



IMMIGRATION
NOTICE

The rea persons are asked to contact the Department of
Immigration at telephone numbers 502-0563 or 502-0537 in
connection with their application for citizenship and permanent
residence. —

Alder, Riffin

Alouidor, Kaye

Ambroise, Anise

Ambroise, Franky
Augustma, Francois —
Anderson, Paula

Anestor, Anselot

Antoine, Emmanuella

Aris, Claude

Apply, Karen

Appolon, Amos

Augustin, Sauveur
Bachmann, Thomas

Belony, Gervais
Belot, James
Bienaime, Fritzner
Blanc, Lavira

Brecher, Mark

Brinkley, Sonya

PRIME OPPORTUNITY FOR TALKS



Joseph, Nasson (c/o Bettie Dorcely)
Joseph, Jhondeka

Joseph, Leslie

Joseph, James

Joseph, Reynold

Jules, Kedly

Kelly, Linos

Kemp, Sherry

Kerr, Therame Leonie
Knowles, Marie Vernicia
Lacroix, Angeline O.
Lamour, Amos -

Leslie, Clement

Lindsay, Leona Madgaretta
Livadas, Christos

Leonce, Jeanine

Louis, Joselaine

Louis, Shantnel

Louis, Reviere O.

Peter Ramsay/BIS



JERRY D CLAYTON, owner of the Hawk’ s Nest Resort on Cat Island met with Prime Minister Hubert ne
ham at the Office of the Prime Minister on Monday. Mr Clayton met with Mr Ingraham to brief him on future
plans for the resort.





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Capre, Jackson

Cato, Ian

Caty, Linda

Charles, Jimmy

Charles, Raymond

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Charly, Charles

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Erne-Clecidor, Andrea
Etienne, Kevin
Eugene, Leekey
Eugene, Odanis
Fenelus, Cherline
Fertil, Fernand

Frais, Jacques
Francois, Lucien
Francois, Willy

Fritz, Kyesha
Gardiner, Glenford
Gomez, Pablo-Felix
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Guillaume, David L.
Guillaume, Linda
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Guerrier, Faustin
Hall, Schivon N.
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Narcisse, Antoine
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.. Newchurch, Coralie Patrone

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Orange, Jacques

Paul, Kevin
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Pitter, Latoya .

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Pena, Andres Alberto Merino
Reynolds, Lauren
Riviere-Clecidor, Shirley
Robinson, Selina

Rolle, Claudette

Rollins, Manishka
Saintilhomme, Jeancius
St.Michael-Hylton, Byron
Samuels, Lennise
Saunders, Cristina
Seamy, Pierre
Severe, Yanick
Shaw, Lloyd

Simon, Allen

Small, Thomas

Stern, Kim

Sylvain, Herode
Sylverain-Joseph, Ella
Theophile, Ernage
Thurene, Dieuseul
Tilme, Adie John
Tysoe, Clive

Valson, Kelvis
Valbrun, Curry
Valbrun, Daniel “ees
Valbrun, Odonel
Veus, Luckson
Wilson, David

Youte, Orius


PAGE 18, THURSDAY, JANUARY 31, 2008 THE TRIBUNE





THURSDAY EVENING : JANUARY 31, 2008

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

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THE TRIBUNE

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(LESS 8% FOR CREDIT CARDS - NO STORE CREDITS OR GIFT CERTIFICATES - ALL SALES FINAL)





The fanastic hit show that everybody's
talking about, continues this season on

‘Monday, February 04, 2008

Q Visitor's Voice With Raquel Horton

Lt Making it In Tourism With
_ Fine Artist, Wendy Cartwright

Md Improving The Service In The
Service Industry With: Vernice Walkine,
Tommy Thompson, Gloria Brown
Romeo Farrington, Alec ae
and Frank Comito

(Q Peace And Plenty Anniversary

Q The Exuma Cays





|

Be sure to ture in to another brand new, : a8
informative episode of the show °
4 ' every Monday at 8:30 pm

and Saturday at 10:00 am on ZNS TV.







THURSDAY, JANUARY 31, 2008, PAGE 19

| Pictured from left: Rebecca Moxey, support officer, Marketing & Public Relations; Shawn Sawyer,
winner; Caroline Turnquest, regional manager, Merchant Services, Bahamas Card Centre.

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FI HE TRIBUNE

“THURSDAY,

Clipper completes
28.72% Bahamas :
Ferries stake deal

= By NEIL HARTNELL

Tribune Business Editor

CLIPPER
Group, the
Nassau-head-
quartered
global shipping
firm, this week
closed its
acquisition of
a minority
28.72 per cent
stake in Bahamas Ferries, which
yesterday told The Tribune the
move would provide it with
“tremendous benefits”.

Nd

Khaalis Rolle



Deal to have ‘tremendous
benefits’ for Bahamian
transport provider, as fuel
costs rise from under $1
per gallon when formed

to just under $5 per gallon

Khaalis Rolle, the inter-island
marine transportation
provider’s chief marketing offi-
cer, said of Clipper’s strategic

SEE page 12B

JANUARY. 31.





2008



i°



Money Safe.
Money Fast.

Jotemstional Muncy trauzter

Bank of The Bahamas

INTERNATIONAL

Grtine at

KanktichawusOriine.cer

ISX now ‘cleared’ to lis

issuers’ secondary issues

a By NEIL HARTNELL
Tribune Business Editor
——————

he Bahamas Inter-
national Securities
Exchange (BISX)
yesterday said it
had “received
clearance” to list on the
exchange secondary securities
issues - such as preference share
and bonds - that are launched
by companies already registered
with it.

Keith Davies, BISX’s chief
executive, told The Tribune that
the Securities Commission of
the Bahamas had given it per-
mission to “broaden and deep-



en” the Bahamian capital mar-
kets by providing a platform on
which holders of public compa-
nies’ debt issues could trade
these instruments.

He explained: “What we have
received clearance to do is the
ability to list additional securi-
ties that have been issued by
publicly-listed companies
already trading on the
exchange.

“We will know within the
next week or so, assuming we
can get all the information
ready, when we expect to have
the first publicly traded compa-
ny’s debt issue on the

’ exchange.”

The BISX chief executive
added that Fidelity Bank
(Bahamas) had “made it
known” through the offering
memorandum of its intention
to list on BISX the $15 million
bond issue that it placed in mid-
2007, and had informally
approached the exchange on
the subject.

“That is something we expect
to move full-steam on. That is
something we will seek to
accomplish through the listing
process, once they make a for-
mal approach to us,” he added.

Caribbean Crossings’ $10 mil-
lion preference shares, which
were the ee Bahamas’ affil-

Rum Cay developer finishing off finance within three weeks

@ By NEIL HARTNELL
Tribune Business Editor

THE developer behind the
$700 million Rum Cay Resort
Marina said it expected to “fin-
ish off our financing rounds in
the next three weeks”, as makes
plans to redevelop the island’s
Sumner Point Marina and work
on the beach lots at its main
897-acre development.

Michael Farrant, Montana
Holdings’ chief operating offi-
cer, said the development com-
pany was “having positive signs
from investors”, who would
enable it “to do all the devel-
opment we want to do on Rum
Cay”.

Acknowledging that the Rum

Cay Resort Marina was ina
“construction lull” as the devel-
oper put together new debt and
equity financing, Mr Farrant
added: “We’re finishing off our
financing rounds in the next
three weeks. It is a construction
lull as we put together financing
to roll-out the Sumner Point
development and the beach
lots.”

He:said Montana Holdings
had already dredged the marina
at its main 897-acre Rum Cay
Resort Marina site, and com-
pleted and compacted the first
private island, which will lie in
the middle of the marina basin.

“In Sumner Point, we have
been upgrading the restaurant;
we are examining for this sea-

Court backs S50m
fund’s liquidation

m@ By NEIL HARTNELL
Tribune Business Editor

THE Supreme Court last
week approved the court-super-
vised liquidation of a $50 mil-
lion Bahamas-based investment
fund, into which Canadian reg-
ulators are alleging a Montreal
broker made “illegal” invest-
ments.

The Quebec securities regu-

Ferrere named as
co-liquidator, as
Commission acts

over fund that received
‘illegal’ investments

SEE page 8B

Project Management
Ooreieriin



son hs we improve the exist-
ing docks, and we have done a
lit of landscaping,” Mr Farrant
said.

“We are making Sumner
Point ready for the season, so
that when boaters arrive they
can see things have changed for
the better. We have hired Rum
Cayans for this work, we have
an island manager, and are
putting together designs for
Phase I at Sumner Point.

“We’re going to do Sumner
Point and the beachfront lots
on the 897-acre site in Phase I.
Those beachfront lots will start
at $1 million.”

Mr Farrant explained that at
Sumner Point the developers
planned to construct homes and

lots on the inside of the marina
basin, and also on land facing
the sea. Docks would also be

-constructed, and the main com-

munal areas cleaned up.

Then, in Phase II, Montana
Holdings planned to construct a
small boutique hotel at Sumner
Point Marina to cater specifi-
cally to its yachting, boating
clients.

“We want a nice, measured
approach” to developing the
Sumner Point Marina, Mr Far-
rant said, adding that Montana
Holdings was “in the process of
completing” the final details of
its acquisition from Sumner
Point Properties, the company
owned by American Bobby Lit-
tle.

Montana Holdings has
already been given “power of
attorney” and is running the
Sumner Point Marina from an
operational viewpoint.

“This has existing infrastruc-

ture, gives work to Rum -

Cayans, and keeps development
going during these challenging
times,” Mr Farrant added of
Sumner Point.

“It gives a nice platform, in
terms of lots of prestige and
profits, to roll into Phase IT and
finishing off the [Rum Cay
Resort Marina’s] marina, which
is not far away.

“There is a huge following

SEE page 14B

Now Providence: * Grand Bahama » Andros « nagua
Brome * San Salvador
Head Office Nassau: (242) 397-3000
Proud wiriner of she 2007 Bahamas Chanter of Commerce
Business of the Year Award

BUSINESS TECHNOLOGY
Providing Technology That Works!
242-328-3040

iate’s primary issue to Bahami-
an investors, were also a target
for attracting on to the
exchange through the new sec
ondary issues’ listing feature.
Currently, they are listed on the
over-the-counter bulletin
Board.

Mr Davies said that through
this listings initiative, BISX was
linking Bahamian investors and
shareholders who were active
or potential traders of ordinary
stocks listed with it, with those
who held these companies’ pref-
erence shares and bonds.

SEE page 4B


































nternational






PAGE 2% THURSDAY, JANUARY 31, 2008 THE TRUBUNE



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THE TRIBUNE

BUSINESS

THURSDAY, JANUARY 31, 2008, PAGI-



Forging legal ties
that are binding

ONE of the essential service’
required by any business is a
good relationship with a com-
petent attorney or law firm,
whether for litigation, commer-

. cial or transaction purposes.

As. with other service
providers, it is important that a
business considers certain fac-
tors in selecting attorneys,
preparing for attorney-client
meetings/consultations, main-
taining and managing the legal
relationship, and the overall

conduct of the legal matter.

Key Considerations
When retaining an attorney

or law firm for a legal matter, a_

business should consider the fol-
lowing key elements:

| * The attorney/law firm’s
expertise in the area of the
» j anticipated/specific business
“need or legal matter(s) to be
addressed. Some legal matters
require both litigation and
transactional competencies, plus
an overall commercial aware-
ness and understanding of the

4 business’s best legal strategy.

; ?
ae
>

* Potential conflicts of inter-
est or representation of any
potential alliance partners
and/or competitors.

* The adequacy of the attor-

/ney/law firm’s professional

~ indemnity insurance for poten-

tial liability, given the legal mat-
ter for which the attorney/law
firm will be engaged.

* The experience, compe-
tence, case management, lead-
ership, communication and legal

= and business skills of the attor-

ney/law firm to handle the

* The integrity and trustwor-

* thiness of the attorney/law firm,

and his/her understanding and

%» coniinitment to the eonfiden=

pagans

roe

Ee S



“fiality, attorney-client privilege,

and roles and legal responsibil-
ities of the parties upon engage-

. * The clarity and compre-
- hensiveness of the law firm’s
engagement letter, retainer
agreement, or the terms and

a conditions of theit engagement

in - and conduct of - the legal
matter. .

* The attorney/law firm’s
hourly rate, estimated fees,
retainer, payment arrange-
ments, and fee structure and
billing scheme for work to be
done by junior attorneys and/or
paralegals.

* Any past work, cases or
legal matters performed by the
attorney/law firm in the area of
the specific legal matter to be
litigated or handled by the
attorney/law firm.

* The reputation and
respectability of the
attorney/law firm locally and
internationally.

* Whether any complaints
have been made, or disciplinary
actions taken, against the attor-
ney/law firm by the Bahamas

»,. Bar Association.

ae

i

g
ss
oe





Documentation

Before meeting the attor-
ney/law firm for initial consul-
tation on the legal matter to be
addressed, a business person
should organise and bring a
copy of all of the Jegal and busi-
ness documents and correspon-
dence that may be relevant.

CALL:
325-6570
325-6571
for more
information



al the school office.

Wear school uniform.
$20.00 testing fee

GROUP
TESTING

Saturday,
February 23, 2008
at 8:00am

Applications are available

Bring pen, pencils, rulers.

Preparatory Academy

POA



Depending upon the specific
business or legal need, these
documents may include, but be
limited to, the following items:

* Business plan, organisa-
tional chart, company manuals,
policies and procedures, com-
pliance reports, annual reports,
and financial statements/corpo-
rate documents.

These might include originals
or copies of the Certificate of
Incorporation, Memorandum
and Articles of Association, res-
olutions, minutes, Registers of
directors and officers, Register
of Members, Certificates of
Incumbency, Powers of Attor-
ney, Shareholder Agreements.

Other documents might
include letters, e-mail messages,
and other correspondences that
may be contractual, vendor,
employment, or other business
agreements. Court documents,
including Writs of Summons,
Statements of Claim and Judg-
ments, may also be required.

Information gathering

and understanding

the legal process

In your initial meeting with
the attorney/law firm, some of
the following questions should
be asked:

* How many transactions or
cases similar to the legal matter
to be addressed has the lawyer
handled?

* What has been the out-
come/success rate of past legal
matters?

* How much of the attor-
ney/law firm’s work is done in
the particular area of the-legal
matter to be engaged?

* What is the process, proce-
dure and paper work involved
in the particular legal matter to
be engaged? Will the attor-
ney/law firm also effectively,
and responsively, communicate
this information to the client in

a clear, coherent and compre-:

hensive manner?

What is the education and
information-gathering process
between the attorney/law firm
and client? Will there be any
legal coaching and overall legal
strategy in the conduct of the
matter?

* Are there any potential
conflicts of interest relating to
the attorney’s proposed engage-
ment in the matter?

* What personal and corpo-
rate documentation is needed
in order to engage the attor-
ney/law firm?

* How long will the matter
take to conclude? What will be
the mode and frequency of
communication between the
attorney/law firm and the client
in the conduct of the matter?

* How many attorneys/para-
legals will be working on the
matter? How will the client be
charged — hourly rate, flat fee,
or retainer? How will the work
of junior attorneys, paralegals,
staff members be reflected in
the billing? What are the esti-
mated disbursements and
expenses involved? —

* What will be the nature and









ey





Mt. Carmel




ambit of their legal service,
advice and assistance on
engagement and throughout the
conduct of the matter?

* What are the alternative
solutions, legal strategies and
possible consequences of each
option to be proposed or pur-
sued by the attorney/law firm?

* What is the prospect/poten-
tial outcome of the case? Are
these aligned with the expecta-
tions of both the attorney/law
firm and client?

All attorney-client relation-
ships should be built, main-

tained and managed on integri- .

ty, trust, mutual understanding,
open and honest communica-
tion, professionalism and inter-
dependence.

These objectives can only
achieved on the clear role, risks
and responsibilities of both
attorney and client, and an
appreciation and respect for the
professional services to be ren-
dered and rewards to be gained.

© 2008. Tyrone L. E. Fitzger-
ald. All rights reserved. NB:
The information contained in
this article does not constitute
nor is it a substitute for legal
advice. Persons reading this
article and/or column, general-
ly, are encouraged to seek the
relevant legal advice and assis-
tance regarding issues that may
affect them and may relate to
the information presented.

Tyrone L. E. Fitzgerald is a
practising attorney in the
Chambers of Fitzgerald &
Fitzgerald. Should you have
any comments regarding the
content of this article, you may
contact Mr Fitzgerald at Suite
212, Lagoon Court Building,
Olde Towne Mall at Sandy-
port, West Bay St., P. O. Box
CB-11173, Nassau, Bahamas
or at tyrone@tlefitzgerald-
group.com.



REGISTRATION FORM





BAIC :

In Conjunction With

The College of The Bahamas

Will Host

12 Weeks of Business Em mpowerment

& & % 3492 e4eses
SLSEHISHF VSS LST IHS SSF RSH SSS RSF SHSFSEGRSGRSF RHE SHE SSROEGRS gee & $3.35




PURPOSE:

of the business
NAME: to them now, and to
encourage them io
exploit such

ADDRESS: :
empowering them to

DATE:
2008

TELEPHONE CONTACT(S): February 7-Apnl 24,

FAX NUMBER:
TIME: 7:00 p.m.,

Lecture/Presentation

EMAIL: Interactive Panel

Entrepreneur

VENUE: ‘The College Of The Bahamas

(Culinary and Hospitality Management Institute)
(Lecture Theatre)

session.
- The College of The
Bahamas

(Culinary & Hospitality
Management Institute)
(Lecture Theatre)

ode of Wekl Seminars Lt eee

VENUE:

FREE of charge



Thursday March 6, 2008 «Thursday April 3, 2008

Thursday February 7, 2008 :

Empowering Bahamians Venture Capital/Gov't Guaranteed Customer Service
Presenter - Mr. Glenn Ferguson Loans Presenter - Assoc. Prof. Dr. Olivia
Saunders

Presenter - Jerome Gomez

Thursday March 13, 2008

Thursday February 14, 2008

Preparing A Business Plan S| * Thursday April 10, 2008

Protecting your Business from

Presenter - Asst. Prof. Daniel i

Thompson Accounting /E-Commerce Criminals

Thursday Feb 94, 2008 Presenters - Asst. Prof. Kelly Presenter: Royal Bahamas Police Force
ursday February 21,

Round Table Discussion / Financial | _ Duncanson + Thursday April 17, 2008

Inst. Asst. Prof. Lili Saghafi Government Regulations and

Business License
Presenter - Bank Officials «Thursday March 20, 2008 Presenter - TBA

Accounting Software
Presenter - Mr. Shawn Smith
+ Thursday March 27, 2008

Marketing / Budgeting and
Forecasting.

Presenters - Asst. Michael Rolle
Asst. Darwin Russell

Thursday February 28, 2008
leadership & Supervision in
Business

Presenter - Assoc. Prof Peter Daniels

«Thursday April 24, 2008
Insurance / Testimonials / Closing

Ceremony
Presenter - Mr. Glenn Ferguson





CONTACT: Bahamas Agricultural and Industrial Corporation (BAIC) at 322-3740, Fax 322-2123
Le-Var Miller / Fonjia Burrows / Lester Stuart :

“gf

Chrisitan Youth Leaders Network

ty C & COLLAGE PRESENTS

11 i@e-

TM ieltn

Shelly Donahi
y Se

wiSitany . Youth

ERI ba twork

"a BFM Diplomet Center:7: Opm



To sensitize Bahamians

opportunities availabie

opportunities, thereby

become self employed.

(See Schedule Below)

Discussion followed by

Testimonials and O24


o

PAGE 4B, THURSDAY, JANUARY 31, 2008

THE TRIBUNE





BISX now ‘cleared’ to list
issuers’ Secondary issues

FROM page 1B

As the latter instruments had
never been listed on BISX
before, their holders did not

have a formalised, centralised
market on which to trade them,
effectively “disenfranchising”
them and forcing them to hold
these securities or only trade

them with other holders. These
would be the main people to
benefit from the latest listings
initiative.

“We’re giving them greater

iiventages

Your future - INVESTMENT MANAGER
in a major international Venture Fund in Nassau

You have

° A sound degree in a life science related field, such as pharmacology, biology,
nutritional sciences or medicine and/or sound business background
in nutrition or food and beverage products, preferably in the US market
Post graduate qualifications and/or an MBA or equivalent
Hands-on analytical and research experience, preferably in a Venture
Capital or Private Equity environment
Passion for a healthy lifestyle and the nght food
Excellent oral and written communications skills in English, Spanish a plus
Bahamian Citizenship, you want to live and work in an international
environment right here in Nassau, with frequent travels

We are

The world’s foremost Venture Fund in Health, Wellness and Nutrition. The Partnership
invests in the life sciences field and is particularly interested in identifying nutritional
products, dietary supplements, medical foods and innovative approaches to prevent chronic

diseases.

We offer

a job which will involve search and analysis of companies in the area of health, wellness and
nutrition and preparation of investment decisions by investment committee. A competitive
salary package commensurate with the experience and qualifications will be offered.

If you are attracted by this unique opportunity, or have questions, please contact [VC

Americas

S.A., PO. Box N-7532, Nassau or

FAX:

225-1307. or EMAIL:

hr.nassau@inventages.com for the attention of HUMAN RESOURCES -Ref: IM.

The deadline for applications is 11-February-2008.

$200 or $300 Shopping a 7
closest Meltdown times.
Register at the Mall Offices with
your meltdown time.

transparency, giving them a bet-
ter price discovery, and giving
them wider diversity and
options in terms of centralised
trading,” Mr Davies said.

“The issuing companies
already have financial report-
ing because their ordinary
shares are listed on BISX, so
this makes it easier for us to do.

High Potential Income Producing
Properties (approx.2 acres each) located
on both sides of the only road
heading into eight mile rock from
Freeport (on the boundary), $500.000
each or $950,000 for both.
Contact Tel: 357-8840 or 427-0205

LOOK WHO'S

GONNA BE THERE!!!

CHAPTER TU!
THE POTTING §
JOHN BULL!

SHED

«TONS OF GREAT
FOOD, PASTRIES &
DRINKS!

«RAFFLE PRIZES?!

+ BINGO BONANZA!
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« MOVIES FOR THE

_ KIDS! ay

© BOUNCING
CASTLES !!

+ SHOWCASE YOUR
SUPER MOVES &
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The PLA Team

DANCE FLOOR!!! Promises a Fun Filled Day —So Please Do Bring the Family,

«FACE PAINTING!
» AND MUCH MORE! A Friend or 2!

)) Dinner Tickets Are On Sale atthe School Office: $10.00
UP Please feel free to contact our School office @ 394.4781!

SUMMIT ACADEMY'S

PTA

SIZZLIN’ STEAK-OUT &
MINI-FAIR!!

Saturday, 2 February
Time: 12.00 -6:00 p.m

School Campus, East Bay Street
Waterloo Compound



\ Thank you very much for your support! SEE YOU THERE



Putting secondary securities on
BISX broadens and deepens
the market, and provides an
avenue for greater trading and
transparency to a wider audi-
ence.

“Tt’s a welcome benefit to our
market. The market needs secu-
rities, and the more you have,
the more diverse options there
are for investors, and the
greater the trading opportuni-
ties.

The BISX chief executive ,,

said the exchange was currently
undertaking an initiative to
identify the total number of
shareholders in all Bahamian
publicly-listed companies.
BISX, he added, would now
be able to approach formally

those of its listed issuers it had .
already spoken to informally on

the secondary issues listing facil-
ity.

Mr Davies said his goal was
to have every eligible security in
the Bahamas listed on the
exchange, and most public com-
panies had issued preference
shares, bonds or other forms of

debt as secondary capital raising

issues.

“] think all the companies we -

have spoken to that have an
issue out there are interested in
it,” Mr Davies said of the sec-
ondary listings feature.
“We've got to make the case
to the companies and show

them we have the ability to #9

meet their needs.

“These shareholders of sec-
ondary issues don’t have the
ability or'option of trading these
shares in a very efficient man-
ner. We will now be able to
address their needs and make
them participants in this mar-
ket.

“These investors purchase
these securities, and now they
will have an option to trade

'them'in an organised fashion

on the exchange. We’re giving
one class of shareholders the

benefits.another class enjoys.” §

.

SAN SBACHER

member of the QNB Group

The Ansbacher Group, specialists in private banking, fiduciary
services and wealth Management has an opening in The Bahamas

for the position of

SENIOR SECURITIES OFFICER

Duties include:

e Maintaining the records of all securities transactions

e Safeguarding the securities held by Ansbacher (Bahamas)
Limited & Clients of Ansbacher (Bahamas) Limited
Accurately recording and maintaining records of dividends |
paid, stock splits, interest accruing & paid, and capital
gains on securities held by the Company
Carrying out duties as they relate to the proper
administration of securities
Portfolio Valuations

The successful candidate must have the following
qualifications and experience:

Hold a Series 7 / Canadian Securities Course or a
Bachelor’s Degree in relevant field with a minimum of
3 year’s experience in a settlements department or assistant
trader position.
Proficiency with the Microsoft Office Suite & Bloomberg
An in-depth knowledge of financial markets

Please send all resumes to the attention of:
Human Resource Manager
Ansbacher (Bahamas) Limited

P.O. Box N-7768
Nassau, Bahamas
Fax: 325 -0524

E-mail: hrmanager @ansbacher.bs

Deadline for all applications by hand,
fax or e-mail is Friday 1, 2008



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THE TRIBUNE

THURSDAY, JANUARY 31, 2008, PAGE 5B





Prefabricated 1S

homes ‘did
have permits’

@ By NEIL HARTNELL
Tribune Business Editor

THE “only concern” that the
Government has over the pre-
fabricated homes imported into
north Eleuthera is whether
they meet Building Code and
environmental regulations, a
government minister told The
Tribune, and whether the
developers received a Ministry
of Finance permit to bring
them in.

Dr Earl Deveaux, minister
of works and transport, told
The Tribune that once the
Government was satisfied all
these requirements had been
met, “the rest becomes a mat-
ter of conjecture”.

He was responding to con-
cems raised by north Eleuthera
residents that the prefabricated
homes’ importation, for use in
a 29-unit condo hotel project,
could “kill” the island’s con-
struction industry because they
had arrived in the Bahamas
pre-built and fitted out.

This means there is no work
for Bahamian contractors, or
electricians and plumbers. The
feeling on north Eleuthera is
that if-these homes are permit-
ted, it could potentially open
the floodgates for other devel-
opers to import similar struc-
tures, depr’ving the Eleuthera
construction industry of valu-
able work.

However, Dr Deveaux told
The Tribune that any aggrieved
contractors who feared “these
things will have an impact on
their way of life” could

Minister Earl Deveaux

approach his ministry’s and
other government officials on
the island to voice their con-
cerns.

Adding that the Government
had received no requests yet
to look into the matter from
north Eleuthera residents, Dr
Deveaux described the units as
prefabricated structures that
were permanently fixed to con-
crete foundations, and were
“not modular or trailer
homes”.

“These structures are simi-
lar to what was used on the
Comfort Suites hotel on Par-

.adise Island,” he said. “They
’ got a permit from the Ministry

of Finance to import these
structures, and permits from
Building Control to effect
them.”

Meanwhile, Rasin Johnson,
an attorney with Governor’s
Harbour-based law firm, John-
son & Co, told The Tribune

that following the mieeting held



in Governor’s Harbour over
the pre-fabricated homes on
Friday night, Eleuthera resi-
dents were now waiting for an
official response to the reports
they had submitted to the Gov-
ernment.

“We expect an official gov-
ernment statement as to
whether this approval is a valid
approval, and whether these
structures comply with our
building and environmental
regulations,” Mr Johnson said.

He added that the homes
had been imported by the
Singing Sands Beach Club Ltd,
whose developers were said to
be Polish-American investor
Mariann Csigi, and business
partner Harold Merritt.

The developers had obtained
permission to construct and
develop a 29-unit condo hotel

project in north Eleuthera, and.

they have already constructed a
beach club and restaurant with
seating.

The pre-fabricate homes
were being used as the accom-
modation units, and Mr John-
son previously said six of them
had been installed at the hotel
site already, while another four
to five were on the dock on
north Eleuthera.

He told The Tribune yester-
day: “We are hoping to meet
with the developers. They have
indicated a willingness to meet
and sit down with the Town
Council and officials. We are
hoping to have that this week,
so they can outline their posi-
tion to local leaders and offi-
cials.”

Ss
OPPORTUNITY

TRIBUNE,
January 31st, 2008

Lot No. 1056
Pinewood Gardens Subdivision

All that lot of land having an area of 5,000 sq ft,
being lot no. 1056 of the subdivision known as
Pinewood Gardens, the said subdivision situated
in the. southern district of New providence
Bahamas. Located on this property is a structure
comprising of an approximately 10 yr old single
family residence consisting of approximately
1,205 sq. ft of enclosed living space with 3-
bedrooms with closets, 2-bathroom, linen closet,
living, dining rooms, kitchen and covered front porch. the land is slightly elevated to disallow the
possibility of flooding. the grounds are fairly kept.

Appraisal: $144,977.00



Traveling south on East Street to Sapodilla Boulevard, turn right at thatch Palm Street, turn left
onto Rosewood Street, the subject property is the second on the right hand side painted blue
trimmed white. ' :

BLACKWOOD, ABACO

All that lot of land having an area of approximately 258,064 sq. ft. This property is yet to reach its highest and best use. It
is ideally suited to single or multi-family development as is the nature of surrounding properties within the community. The
site may also serve well as a commercial site as the area remains un-zoned the property remains largely in its original state.
It is covered with low brush and broad leaf coppice vegetation intersperse with broad strands of mature Yellow Pine indigenous
to the area. The property is well drained and represents no immediate flooding danger under normal conditions.

APPRAISAL: $219,354.40

The subject property is vacant and is situated at the Southeastern entrance of the Community of Blackwood, Abaco. The
property is undivided and comprises approximately 6 acres of a larger tract of land of approximately 26 acres.

Lot B, Wilson Street, Rock Crusher
All that lot of land having an area of 10,498 sq ft, being lot B, between the subdivision known as Rock Crusher
and in the vicinity of Perpall Tract situated in the western district of New Providence, Bahamas. This property
1 is Zoned multi family/single family. Also located on this property is a structure comprising of a duplex at
foundation level under construction, and consisting of approximately 1,566 sq. ft. of enclosed living space with
a patio consisting of 270, sq. ft. the starter bars are in place and foundation poured.
Appraisal: $97,214.00
Traveling West on Farrington Road take a right after the P.L.P. headquarters, go about midways through

to Wilson Street, go though the corner all the way to the dead end. The property is located behind the chain
linked fence at the back of the yard.

NORTH ELEUTHERA HEIGHTS (ELEUTHERA)

Lot #20 approximately 11,200 sq. ft., and bounded on North by Early Settler Drive and South by Deal Investment
Ltd., this is a single family zoning and 50 ft., above sea level. This site encompasses a foundation with plumbing
and roughing inplace and well compacked quarry fill. The concrete floor has not been poured as yet. The
foundation is 2,511 sq. ft. Lot #20 situated 1.5 miles east wardly of the Bluff Settlement. The said lot is vacant
and a hill over looking the Atlantic Ocean.

Appraisal: $41,275.00

For conditions of sale and other information contact
Philip White @ 502-3077 email philio.white@scotiabank.com or
Harry Collie @ 502-3034 ¢ email harry.collie@scotiabank.com * Fax 356-3851
To view properties go to: www.stopnshopbahamas.com - Click on
“Real Estate Mall” - Click on doorway “Enter Online Store”










INVESTMENT OPPORTUNITY

a”,






reoennegnnocanecnenesnts HetcaminenitenrannnennnnenitentenneDhenennnOniees tent iadteattCHMRAnnensteenncenttentrnentntEsesttertennsensenentennretanttanentenentnneeaneereneeeetettennte seeeeyt

FAMILY ISLANDS

ABACO Appraisal: $108,000.00

PORTION OF MURPHY TOWN CROWN
ALLOTMENT, MURPHY TOWN, ABACO.

The property is 89 x 100 ft
and rectangular in shape. The
land is elevated
approximately 15 ft above
road level and approximately
25 ft above sea _ level.
Located on this property is a
twenty-year-old three
bedroom, two bathroom,
living, dining, kitchen and
laundry room house. The
structure requires much
attention.





BOSHSOAHHOCHEHOTHOHOSEHEHOHESEEHASESE

EXUMA

DUPLEX IN LOT 6625
BAHAMA SOUND No. 8, EAST, EXUMA

Trapezium shaped lot 35
ft. above sea _ level
comprising 10,000 sq. ft.
Situated thereon is a 10-
year-old single storey
duplex, 2 bed, 1 bath,
kitchen, living/dining
area and porch. (Building
is in need of repairs).

Appraisal: $170,000.00











fe

PSHHOSEROSTTOSHO HOSE CROOHSECHTOERECES

EXUMA Appraisal: $673,075.00

CASTELRAG ESTATES, LOTS 129 & 130
EXUMA HARBOUR SUBDIVISION —

The subject property is located
on Kingway Road and is}
developed with an area of &&
20,000 square feet. Situated a <
thereon is a_ residence ''
comprised of 3,645 square feet |
of living accommodations,
inclusive of 4 bedrooms, 2
baths, with laundry and utility |
spaces and a two bedroom one <
bath guest cottage of 600 ‘ Se SO
square feet. The property is fenced with white picket fencing and has a
Gazebo at the highest portion of the property.




SPAHHRSLSHAHHCA SHALES ASHASEHeRO LES

NORTH PALMETTO POINT
ELEUTHERA

All that piece parcel or lot of land and
improvements situated to the West of
the Settlement of North Paimetto |
Point, on the Island of Eleuthera. The |
total area is approximately 8,118
square feet. Situated on the property
is a 26-year-old building, comprising
approximately 1,263 square feet of
enclosed living space and a basement
area of 144 square feet. Three
bedrooms, two bathrooms, living
room, dining room, kitchen, utility room, and beauty parlour (an additional
480 square feet).

Appraisal: $134,822.00



PARCEL OF LAND, PALMETTO POINT
ELEUTHERA Appraisal: $112,105.00

All that piece, parcel or lot of land 2,743 feet East of the junction of
the Palmetto Point road and main Eleuthera Highway containing 2.45
acres. This site encompasses a 28-year-old single storey concrete
structure of approximately 832 square feet of enclosed floor space
inclusive of shop space and rest room facilities.

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Way
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Hien of sale and erty other information
mn contact:

HARRY COLLIE @ 502-3034
E-mail harry.collie@scotiabank.com
Marae or :
esa PHILIP WHITE @ 502-3077

_. E-mail philipwhite@scotiabank.com

Fax: 356-3851 - send bids to P. O. Box N-7518
Rosetta Street, Nassau, Bahamas
rey a stopnshopbahamas.com

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SNe SRE ERT eee
PRR R TMERRF TRL MAREAN CORTE NAC OUAYE SL REABENAT ET PSPANE OE CARE ARAMA ABEAE ARONA MARAE SY ERA ANRAR A ERRIAN


PAGE 6B, THURSDAY, JANUARY 31, 2008



THE TRIBUNE

INVESTMENT OPPORTUNITY

TRIBUNE,
EIU a 31st, 2008

MISCELLANEOUS PROPERTIES



Lot No. 130, St. Andrews Beach Estates
All that lot of land having an area of 8,100 sq ft, being
lot no. 130, of the subdivision known and designated
as st. andrews beach estates, the said subdivision
situated in the eastern district of New Providence,
Bahamas. located on the subject property is a structure
comprising of anapproximately ae old duplex.
Appraisal: $245,237.
Traveling east on yamacraw hill road take the third corner
right. with sign for st andrews beach estates, then take
first left, then first right, the subject property is the 2nd
property on the left side painted beige trimmed orange.



Lot No. 3 Yamacraw

Beach Estates
All that lot of land having an area of 10,000 sq ft, being lot
no. 3 in Yamacraw Beach Estates, in the said subdivision
situated in the eastern district of New Providence Bahamas.
Located on the subject property is a single-storey triplex
building comprising of 3 units with two 2-bedrooms, 1-
bathroom, living, dining, kitchen apartments unit and one
unit being used as a barber and beauty salon. the land is
on a grade and level; however the site appears to be
sufficiently elevated to disallow the possibility of flooding
during annual peat rainy periods of the year.
Appraisal: $313,016.00
Tra’ eling south on Fox Hill Road, ge ass Yamacraw
Hill Road and Joe Farrington Road. The subject property is located on the left hand side of Fox Hill road painted
white trimmed brown.



Eleuthera Island Shores Subdivision LOT NO. 1,
BLOCK NO. 45,
SHORES
All that piece parcel or lot of land having an area of
9,644 sq. ft. being lot #1 in block 45, Section “E” in
the subdivision called and known as Eleuthera Island
Shores Subdivision, situated in the vicinity of Hatchet
Bay Harbour, on the island of Eleuthera, one of the
islands of the Commonwealth of The Bahams. This
site encompasses a two storey building which is
approximately 14 yrs old and is abandoned. There is
a wooden landing approximately 7'-4” wide by 20'-
0” on the upper level, approximately 1,610 sq. ft. of
enclosed living space, with 3-bedrooms, 2-bathrooms,
front room, dining room, den, kitchen, and utility room. The wooden porch on the upper level is approximately 148sq.
ft. There is also a water cistern under the dining room floor area. All utilities and services available.
Appraisal: $151,007.00
This property is situated in Eleuthera Island Shores.

LOT NO. 1 WESTERN SHORES
All that lot of land having an area of 7,389 sq. ft., being
lot #1 of the Subdivision known as Western Shores Phase
Il, the said Subdivision situated in the Western District of
New Providence, Bahamas. Located on the subject property
is a single structure comprising of a single family residence
consisting of approximately 2,430 oh of enclosed living
space. The residence comprises of 3-bedroom with closets,
2 1/2 bathrooms, living/dining rooms, study, kitchen, utility
room, porch and enclosed garage with electronic door. The
land appears to be sufficiently elevated to disallow the
possibility of flooding during annual heavy rainy periods
of the year. The grounds are fairly well kept with
improvements including driveway, walkway and swimming
pool. The yard is enclosed with walls.

Appraisal: $753,570.00
Traveling west on West Bay Street. Go pass Orange Hill and Indigo Subdivisions, the house is located on the left near
Tusculum Subdivision and painted all white.





(Lot No. 62, Lower Bogue) ELEUTHERA

| All that piece parcel or lot of land and improvements, in
‘) the settlement of Lower Bogue, North Eleuthera, being
No. 62, comprising of about 34,210 sq. ft., this site
encompasses a 12 year old single home comprising
of 4 bedrooms, 3 bathrooms, front room, dining, breakfast
room, kitchen and laundry room, with a total living area
of approximately 2,342.06. Property also includes a double
car garage, and front entrance with a total sq. ft. of
approximately 655.75. This home is approximately 85%
completed. The property is well landscaped with crab
grass, fiascos and some fruit trees.

Appraisal: $235,638.00
This property is situated on the western side of Eleuthera
Highway in the settlement of Lower Bogue.





DUNDAS TOWN (ABACO)
3 two bed, 1 bath fourplex 9,000 sq. ft., lot no. 18b with
an area for a small shop. Age 12 years the land is a portion
of one of the Dundas Town Crown Allotment parcels
stretching from Forest Drive to Front Street, being just
under a quarter acre in size and on the lowside. A concrete
block structure, with asphalt shingle roof and L-shape in

2,920 sq. ft., the interior walls are concrete blocks, ceiling
is sheet rock and the floors of vinyl tiles.
Appraisal: $265,225.00



LOT NO. 12, BLOCK 3, MILLAR’S HEIGHTS
All that lot of land having an area of 7,500 sq. ft., being lot
12, of the subdivision known and designated as Millar’s
eights, situated in the Southwestern district of New
Providence, Bahamas. This property is comprised of a 25
yr old single family residence consisting of approximately
2,375-sq. ft of enclosed living space with three 2-bedrooms,
1-bathroom, living/dining rooms, and kitchen apartment
complex. The land is on a grade and level and appear to
be sufficiently elevated to disallow the possibility of flooding
during annual heavy rainy periods. The grounds are fairly
kept, with improvements including parking area, walking
pathway and low shrubs. The yard is enclosed with chain linked fencing at the back and southern sides.
Appraisal: $239,500.00

Traveling west on Carmichael Road, enter West Avenue, on the South side immediately after Topps Laundromat. Take
first right which is Wimpole St., go around the curve on the left which is London Avenue, traveling south on London
Avenue the subject property is the 9th building on the right before the T, Junction (high street) the subject building is
an L shape triplex, painted green, trimmed white.



VACANT PROPERTIES

Lot No. 15, Block 10, Winton Heights
All that lot of vacant land having an area of 17,144 sq ft, of the subdivision known as Winton Heights situated
in gaan District of New Providence Bahamas. This property is rectangular in shape and zoned multi family
- single family. :
Appraisal: $171,440.00
This property is about 230ft West of Sassoon Drive and is about the third lot on the North Side of Hill Side Road.

Island Harbour Beach, Exuma

All that parcel or lot of vacant land containing 10,000 (80°X 100’) sq. ft. being Lot No. 9, Block 2, Island Harbour Beach
Subdivision situated the western most portion of the Hermitage Estate, Little Exuma Bahamas. The property is located
on an unpaved road known as Stocking Road. The property also has a commanding view of the ocean.

Appraisal: $80,000.00

MUTTON FISH POINT NORTH ELEUTHERA
All that piece, parcel or lot of vacant land containing 44,714 sq. ft., and designated “E” which forms a portion of land
known as “Mutton Fish Point” situated about two miles northwestward of the settlement of Gregory Town on the island
of Eleuthera, one of the islands of the Commonwealth of The Bahamas, and is bounded and abutting as follows:-
Northwardly by the land now or formerly the property of Coridon Limited, and running thereon for a distance of 393.13
hundredth ft.; outwardly by a 30’ wide road reservation and running thereon for a distance of 402.57 hundredth ft; eastwardly
by the main Queen's Highway and running thereon for a distance of 109.73 hundredth ft; westwardly by land now or
formerly the property of Caridon Limited and running thereon for a distance of 110.75 hundredth ft. this property having
an area of approximately 44,714 sq. ft. this neighbourhood is zoned commercial/residential development and is quiet,
peaceful and has a topography of approximately 2 ft. with all utilities and services available.
APPRAISAL: $51,421.00

MUTTON FISH POINT NORTH ELEUTHERA

All that piece, parcel or tract of land containing 1 acre situated about two miles northwestward of the settlement of Gregory

Town on the island of Eleuthera, one of the islands of the Commonwealth of The Bahamas, and is bounded and abutting

as follows:- Northwestwardly by the main Queens Highway and is running thereon for a distance of 125.462 feet
‘ northwestwardly by the land now of formerly the property of Coridon Limited, and running thereon for a distance of 390.274

hundredth ft.; southwestwardly by a 30’ wide road reservation and running thereon for a distance of 128.128 hundredth

ft; southeastwardly by the land now or formerly the property of the Venor and running thereon for a distance of 322.955

hundredth ft. This property having an area of approximately 44,847.76 sq. ft. This neighbourhood is zoned commercial

development and is quiet and peaceful with a topography of approximately 2 ft. with all utilities and services available.

APPRAISAL: $51,421.00
This lot is vacant land and is located in the area known as “Mutton Fish Point”











design with a total length of 70x26 ft, plus 50 x 22 ft., -





LOT NO. #7, BOILING HOLE SUBDIVISION
All that piece parcel or lot of land and inprovements situated
on the Island of Eleuthera, North of Governor’s Harbour,
comprising of Lot No. 7 in the Boiling Hole Subdivision and
comprising of approximately 10,000 sq. ft., this site
encompasses a 17 years old duplex with each unit consisting
of 2-bedrooms; 1 bathroom, frontroom, diningroom and kitchen
with a gross floor area of approximately 1,474.20 sq. ft. and
covered porch area of approximately 164.70 sq. ft. this duplex
was built in accordance with the plan and specification as
approved, and at a standard that was acceptable to the Ministry
Of Public Works. This structure is in good condition. Each apartment could be rented at $800.00 per month. The
land is landscaped and planted with ficus trees, but needs some manicuring.
APPRAISAL: $153,521.00

LOT NO. 1490 GOLDEN GATES SECTION 2
All that lot of land having an area of 6,000 sq. ft.
being lot no. 1490 of the subdivision known and
designated as Golden Gates, the said subdivision
situated in the southwestern district of New
Providence, bahamas. This property is comprised
of a 25 yer old single family residence consisting of
approximately 2,480 sq. ft. of enclosed living space
with three bedrooms, three bathrooms, living, dining
rooms and kitchen. The land is on a grade and level,
however the site appears to be sufficiently elevated
to disallow the posibility of flooding during annual heavy rainy periods of the year. The grounds are fairly kept, ith improvements
including driveway, walkway and low shrubs. Yard is enclosed on one side wth a 5 foot chain linked fencing and a low cement

block wall to the front.

Appraisal: $162,400.00
Traveling west on Carmichael Road turn left then right onto the service road opposite Bahamas Faith Ministries Complex, then
first left again after passing clico and pre-school. The subject house is the 6th house left painted green trimmed white.





Must Sell Lot No. 597
All that lot of land having an area of 3,200 sq ft, being lot 597
Melvern Road of the subdivision known as Yellow Elder Gardens,
the said subdivision is situated in the southern district of New
Providence Bahamas. This property is comprised of a 26 yr old
single family residence consisting of approximately 1,510 sq. ft
of enclosed living space, with 3-bedrooms including master bedroom,
2-bathrooms, living/dining room, kitchen and utility room. The
residence also consists of a front porch and two patios.

The land is on a grade and level; however the site appears to be
sufficiently elevated to disallow the possibility of flooding during
annual heavy rainy periods. The grounds are fairly kept, with
improvements including driveway and walkway. The yard is enclosed with chain linked fencing.

Appraisal: $133,395.00
Traveling west along Melvern Road from the sport center road, follow the road to the left. the subject property is the Sth property
left situated between Zris Court and Richie Court, painted White trimmed yellow.

HAMILTON’S, LONG ISLAND
All that piece parcel or lot of land and improvements situated
in the settlement of Hamilton's in the Island of Long Island,
and comprising of approximately 13,547 sq. ft. and is elevated
approximately 7-8 ft above sea level. This site encompasses
a 35yr structure. A simple style home consisting of two
bedrooms, one bathroom, kitchen, living and dining room.
the home however is consisted of 2 separate constructions;
613.60 sq. ft of concrete construction and 624 sq. ft of wooden
construction all amenities are to the property such as electricity,
water, cable and telephone.
Appraisal: $112,000.00.
The property is accessed by the main Queen's Highway.

KENNEDY SUBDIVISION (NASSAU)
Lot no. 21 all utilities available 10 year old single story
house, 3 bedroom 2 bathroom, living room, dining area,
family room, kitchen, study, laundry and an entry porch.
Appraisal: $188,406.00

Heading west along Soldier Road take main entrance to
Kennedy Subdivision on the left, then take the 1st corner
on the left then 1st right, house is second on your right
with garage. .



LOT NO. 382 WINTON MEADOWS
All that piece parcel or lot of land having an area of 8,300 sq. ft. being
lot No. 382 situated in the subdivision known as Winton Meadows, the
said subdivision situated in the Eastern District of the Island of New
Providence, Bahamas. This property is comprised of a 24 year old single
family residence with an attached efficiency (formerly the carport)
consisting of approximately 2,675 sq. ft. of enclosed living area, front
porch-198 sq. ft., back patio-380. The building is a two storey house.
Besides the efficiency apartment, the house is comprised of 3-bedrooms,
3-bathrooms, inclusive of a master bedroom suite upstairs. Foyer, front
room, dining room, family room, powder room, utility room, breakfast
nook and kitchen downstairs. Climate control is provided by ducted
central air conditioning, with air circulation enhanced by ceiling fans
and other amenities. Quality of construction: Average. Standard of
maintenance: Average. Effective age: seven years (7) the land is on flat terrain; however the site appears to be sufficiently elevated to
disallow the possibility of flooding under normal weather condition, including annual heavy rainy periods. The grounds are well kept,
with improvements including neatly maintained lawns with flowering trees, and a concrete garden/storage shed, which is located in the
backyard. The yard is enclosed along the sides with chain-link fencing, and concrete block walls that are topped with metal railings,

and metal gates at the front and back.

; APPRAISAL: $365,000.00
Traveling east on Prince Charles Drive, pass the streetlight at Fox Hill Road until you get to Meadows Boulevard, turn right onto Meadows
Boulevard, go south and take the 4th left, then 1st right. The subject house is the 2nd house on the left side painted beige trimmed white.

RAN



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Investment Opportunity Must Sell Lot No. 217
Pinewood Gardens Subdivision
All that lot of land having an area of 5,000 sq ft, being Lot
No. 217 of the Subdivision known as Pinewood Gardens, the
said subdivision situated in the Southern District of New
Providence Bahamas. Located on this property is a structure
comprising of an approximately 20 yr old single family residence
consisting of 992 sq. ft of enclosed living space with 3-
bedrooms, 1-bathroom, living/dining rooms, kitchen, drive
way and walk way. The land is on a grade and level and
appears to be sufficiently elevated to disallow the possibility
of flooding. The grounds are fairly kept and yard is open.
Appraisal: $127,988.00 —.
. Traveling south on East Street to the junction of Soldier
Road, make a left at the light then turn right into Kennedy Subdivision, go all the way to T-junction, turn right then first
left then right again toward Mount Tabor Church building, after passing Mount Tabor take first left (sapodilla blvd), the
subject house is about 400 yards on the right painted yellow trimmed green, with green and white door.



Rainbow Subdivision Lot No. 3, Block 27
All that vacant lot of land having an area of approximately 14,052.59 sq. ft. being lot no. 3, block 27, section
b, of Rainbow Subdivision with residential zoning. This property is bounded about 103.44 ft north by Queens
Highway, and 137.02 ft. East and about 99.94, ft south of Rainbow Hill Circle. 139.91 ft West. All utilities and

services available.
Appraisal: $37, 440.00

Investment Opportunity - Must Sell
Lot No. 20, Block 1 unit 3 Fortune Point Subdivision all that lot of vacant land having an area of 12,650 sq ft,
being Lot No.20 block 1 unit 3 of the subdivision known and designated as fortune point subdivision Freeport,
Grand Bahama.. duplex property zoning with a rectangle shape.
Appraisal: $38,000.00

LOT NO. 10B, PALMETTO POINT
All that piece, parcel or lot of vacant land containing 9,000 sq. ft., and being Lot No. 10B situated North of Ingraham's
Pond and Eastwardly of North Palmetto Point, on the island of Eleuthera, one of the islands of the Commonwealth of the
Bahamas, and is bounded and abutting as follows:- on the north by Lot No. 3B and running thereon for a distance of (90)
ft; on the East by Lot No. 11B and running thereon for a distance of (100) ft; on the south by a 20’ wide road reservation
and running thereon (90) ft on the west by Lot No. 9B running thereon for a distance of (100) Ft, the said Lot is overgrown
with shrubs and is in close proximity of a white sandy beach. This neighborhood is zoned residential development and
is quiet and peaceful with a topography of approximately 50ft and because of this there is no danger of flooding. The area
is approximately 80% developed with all utilities and services available.
APPRAISAL: $72,000.00

MUTTON FISH POINT NORTH ELEUTHERA
All that piece, parcel or lot of vacant land and improvements containing approximately 44,587 sq. ft. and designated “F”
which forms a portion of land known as “Mutton Fish Point” situated about two miles northwestward of the settlement
of Gregory Town on the island of Eleuthera, one of the islands of the Commonwealth of The Bahamas, and bounded and
abutting as follows:- Northwardly by the land now or formerly the property of Coridon Limited, and running thereon for
a distance of 383.56 hundredth ft; southwardly by land now or formerly the property of Caridon Limited and running
thereon for a distance of 393-19 hundredth ft. eastwardly by the main Queen's Highway and running thereon for a distance
of 113.40 hundredth ft. westwardly by land now or formerly the property of Coridon Limited and running thereon for a
distance of 113.40 hundredth ft. this neighbourhood is zoned commercial/residential development and is quiet, peaceful
and has a topography of approximately 2 ft. with all utilities and services available.
APPRAISAL: $51,276.00

AMOR Rum OnuEL mel cla:
Philio White @ 502-3077 email philip. white@scotiabank.com or Harry Collie @ 502-3034 ¢ email harry.collie@scotiabank.com * Fax 356-3851

To view properties go to: www.stopnshopbahamas.com - Click on “Real Estate Mall” - Click on doorway “Enter Online Store”



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jand kitchen.

THE TRIBUNE , THURSDAY. JANUARY 31, 2008, PAGE 7B

INVESTMENT OPPORTUNITY







NEW PROVIDENCE

LOT #12 DAISY MANOR — Appraisal: $82,376.80)

Subject property contains 5,979 |
sq ft. Situated thereon is a 14
year old single family residence
containing 773 sq ft of enclosed
living space. This includes two
bedrooms, one bathroom, living
and dining rooms, kitchen and
utility room.
Directions: Travelling west on Boyd Road, turn into Franklyn Avenue, |
turn right at the T-junction, turn left at the second T junction, house is
the second property on the left white trimmed with burgandy.

FREEPORT

LOT No. 13, BLOCK KN, UNIT 1
BAHAMIA NORTH SUBDIVISION Appraisal: $40,000.00

The property has an area of 13,027 square feet or .30 of an acre.

NEW PROVIDENCE

SANDYPORT Appraisal: $300,000.00
All that lot of land having an area of 9,626 square feet, being lot number 40,
of the subdivision known as SandyPort, situate in the Western District of
New Providence. The property is irregular in shape, is on a level grade and
zoned as single family residential. An electrical connection outlet is located
near the property. The property is located on Sandy Port Drive just on the
bend before Governor’s Cay on the Southern Side of the road.






















SRMOSCSSHHSHSCSSCHSHHRSHCSOSCHHHDOEES

No. 17 WESTRIDGE ESTATES Appraisal: $930,000.00








All that lot of land having an
area of 30000 square feet,
being lot Number 17 of the
. subdivision known as
Westridge Estates Addition.
“ Situate in the Western District
“on the island of New
Providence.
< Located on the — subject
“property is a newly
QA AAA \S MINN ‘ constructed single story
feet of living space with a three Car Garagestructure comprising 6,000
The building is 75% completed and comprises five bedrooms, four and a
half baths study, living/dining, family room, kitchen, laundry and generator
room.
Location: From SuperValue West Bay, take the road heading west into
Westridge, take the first corner on the Right, Westridge Drive. Subject
property will be about the seventh on the right hand side of the road.

SRISSARTSASSSHSHOSHASSHTHOSROEREREE

LOT #18 BLOCK #27 VENICE BAY Appraisal $383,855.00







GREENING GLADE SUBDIVISION Appraisal: $75,000.00

All that piece parcel and lot of land described as lot 7 block 21, Albacore
Drive, Victoria Place and Mid Chipman Road, Unit 2, Greening Glade
Subdivision, Freeport, Grand Bahama. The lot contains 20,580 sq. ft.
and zoned as multi-family residential.








All that lot of land having an area of ~ s
12,225 square feet, being lot #18 Block rr
#27 of the subdivision known as Venice
Bay Annex, situate in the Western
District of New Providence. The
property is on a level grade and zoned
as multi family residential. Located on
the subject property is a cluster of ~
buildings comprising a completed unit |
at the front of the property, a middle —
section consisting two town houses WMKxv
about 80% completed and designated “~~ . Soa
units 3 and 4 and is the subject of this appraisal. This section has a square
footage of approximately 2,490 square feet and a porch of 200 square feet.

Directions: Take Carmichael Road heading West, turn onto Bacardi Road
heading South. Proceed past Millers Pond. Just before reaching Bacardi, turn
Right onto paved road just past the pond. Subject is located on the Right

LOT No. 20, BLOCK 1, UNIT 3
FORTUNE POINT SUBDIVISION Appraisal: $38,000.00

All that lot of vacant land having an area of 12,650 sq. ft. being lot No.
20, Block 1 Unit 3 of the Subdivision known and designated as Fortune
Point Subdivision, Freeport, Grand Bahama. Duplex property zoning with
a rectangle shape.








LINCOLN GREEN, CANEBY CLOSE Appraisal: $38,500.00

Unit 5, Block 17, Lot #48 — Single family residence, Clearwater Close.
Located on fresh water canal. Approximately 17,404 sq. ft.




hand side of the road. LOT No. 37 BLOCK 33

wowevecvoeooeavesocanvesoesvense CHURCHILL COURT, BAHAMIA MARINA
LOT No. 17 ALLEN’S DRIVE | : eee eae nee - eiaepaisall $337,000.00
CARMICHAEL ROAD Appraisal: $171,000.00 ipeaoeete eee - 1 ocean

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The subject property is .
developed with a duplex
building consisting of
approxi-mately 1,512
square feet of enclosed *
living space which |
includes, two - 2



bedrooms and 1 § \ Ww
bathroom, | kitchen, | SS wr :
living/dining room | All that lot of land having an area of 16,533 sq. ft. being lot No. 37 of the

apartment.Ventilation is subdivision known and designated as Bahamia Marina and Bahamia Section 4
by walled units air- ART ATG Subdivision, Freeport, Grand Bahama. Located on this property is a structure
condition units located in the bedrooms. comprising a 3 year old duplex structure which covers approximately (3,058)
Directions to property: Take the corner North of Golden Gates Assembly, | square feet. Apartment consisting of two 2-bedrooms, 2-bathroom with private

Allen’s Drive, follow the bend. The subject property is on the right shortly Jacuzzi in master bath, spacious living and dining room, full service kitchen, a
after passing the bend, aquamarine trimmed deep green. laundry and utility room, foyer/hallway with linen and storage closet. The
property is fully secured by six foot plastic coated chain-link fence runs along}



woeeecenccsccevesvesevenvosccees the side and rear and adjoins the painted 4 foot wall, with 5 foot pillars at
“iy front with electronic gate.
WINTON MEADOWS LOT 248 Appraisal: $264,000.00 cs Ura Nth NA Bice tot bs



of approximately 8,179 square
‘feet, being lot 248 of the : ~~
subdivision known as Winton
Meadows. Located thereon is a
single storey, single family
residence of approximately 1,378
square feet of enclosed living
space with three bedrooms, two
ce =<“ bathrooms, living and _ dining
rooms and kitchen. Ventillation is by central air-conditioning and ceiling
fans.

Directions: Take Yamacraw Hill Road, to corner that takes you into

Winton Meadows, make first left, subject property is second on left - . .
side, painted lavender trimmed white. Apartment 402, 2 bedrooms, 2 bathrooms.

wi eobavessiuuesdisvesatacsenagns Lot 4, Block GN, Edward Birch Curt, Bahamian North

GERALD BARTLETTE ESTATES Appraisal: $129,000.00 saseneenecncenscnsenccnsenensess
LOT 21 - OFF COWPEN ROAD LOT 188 SCOTT AVE, EAST SECTION 1 SUBDIVISION,

All that lot of land having an area FREEPORT, GRAND BAHAMA Appraisal: $140,000.00

of 4,875 square feet being lot 21 of 7 The subject lot is

the subdivision known as Gerald ‘
Bartlette Estates. Located on this approximately 12,322 square
property is a structure comprising feet. Situated on _ this
a 6-year-old single family residence property is a single story
of approximately 1,004 square feet single family dwelling of
of enclosed living space with two 2,800 square feet of living
bedrooms, two bathrooms, living, space. This includes a small
utility, dining rooms and kitchen. front porch, a large foyer, a
Directions: Travelling South on sunken living room with
Baillou Hill Rd., turn Right onto Cowpen Rd. at the traffic light. Proceed West. fireplace and chimney, a
Take the second corner on the Right (Gerald Bartlette Subdivision). Subject . dining area, a_ full service

kitchen, a family room with

property is the third below the hill, painted white trimmed green. w “AS CQ WK
t ae ~~ adjoining laundry and

storage room. A hallway with linen closets, a hallway bathroom. Three

of auuronimately ‘S17S, square | FAIRWAY MANOR CONDOMINIUM Appraisal: $73,000.00














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PAGE 8B, THURSDAY, JANUARY 31, 2008

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purpose of which is to promote international understanding and goodwill
through person-to-person contact. The GSE teams are made up of 5 persons,
the leader of which is an experienced Rotarian.

District 7020, which includes The Bahamas, is pairing with Rotary 5490
District in Arizona, which includes Phoenix, London Bridge and The Grand
Canyon for a four-week visit during May & June (specific dates to be
determined). While abroad, team members have the opportunity to meet
their counterparts in their respective vocations, tour various businesses and
attractions and give presentations to Rotary Clubs and others about their
home country and sponsoring Rotary District.

The Rotary Foundation provides round trip airfare and local Rotarians in
the host District (i.e. Arizona) provide lodging, meals and transportation.
Team members pay for personal and incidental expenses only. All other
costs are covered by Rotary.

Individuals interested in applying for the four team member spaces should
be employed full time for at least two years in a recognized business or
profession and between the ages of 25 and 40 years. Applicants must be
citizens of The Bahamas and make themselves available for personal
interviews. Applications must be submitted by February 5 through one of
the Nassau Rotary Clubs or by contacting one of the following committee
members, who can also provide additional information:

Murray Forde Tel/fax: 393-1892 e-mail: forde@batelnet.bs
Patrick Rollins Tel: 325-9663 e-mail: pdrollins@batelnet.bs
Dr. Bridgette Rolle Tel: 424-3778 e-mail: bridgetterolle@yahoo.com

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THE TRIBUNE

ea ee aE he ee a a
Court backs $50m
fund’s liquidation

FROM page 1B

lator, the Autorite des marches
financiers (AMF), announced

- yesterday that it had worked

with the Securities Commission
of the Bahamas in applying suc-
cessfully to the Supreme Court
for the winding-up of the
Bahamas-domiciled Ivest Fund
Ltd.

The Tribune understands that
the joint liquidators are former
Ernst & Young partner, Maria
Ferrere, who now heads her
own firm, FT. Consultants, with
former KPMG executive Ali-
son Treco, and Canadian
accountant, Jean Robillard of
Raymond Chabot Grant Thorn-
ton.

The AMF said: “Further to
co-operation between the Secu-
rities Commission of the
Bahamas and the AMF, the
Supreme Court of the Bahamas
handed down a decision on Jan-
uary 25, 2008, for the winding-
up of Ivest Fund Ltd, and
appointed Jean Robillard of
Raymond Chabot Grant Thorn-
ton as co-liquidator.”

The Tribune revealed the
problems with the Ivest Fund,
the latest potential investment
fund scandal to hit the
Bahamas, late last year. The
Bahamian fund was the chief
entity through which Montre-
al-based Triglobal Capital Man-

’ agement funnelled and placed

millions of dollars in retail
investor monies.

A provisional administrator
for Triglobal was appointed on
December 20, 2007, following
a request from the AMF.

The AMF said an investiga-
tion into Triglobal had raised
concerns that the company had
been making “illegal invest-
ments in tax havens” through
the Bahamas-domiciled Ivest
Fund and Focus Management,
an investment vehicle registered
in the Cayman Islands.

In its action against Triglobal,
the AMF alleged that it
appeared as if Ivest’s external
auditors “would have refused
to approve the financial state-
ments of Ivest because they
were incapable of validating
where the funds, having served
to finance a loan from Ivest to
Focus for an amount of $20 mil-
lion (40 per cent of the assets of
Ivest) had come from”.

The Ivest Fund’s auditors are

understood to have been.

Gomez Partners & Co, while a
check of the Securities Com-
mission’s website listed Ivest’s
last fund administrator as Gen-
esis Fund Services. Neither has
done anything wrong in rela-
tion to the Ivest saga.
According to the AMF peti-
tion, Ivest’s registered address is
the British Colonial Centre of

NEW |

Commerce, One Bay Street,
Suite 400, PO Box N-3935 in
downtown Nassau.

Inquiries by The Tribune
revealed that Genesis Fund Ser-
vices has resigned as Ivest’s _
administrator This left Ivest
operating without a Bahamas-
based fund administrator,
meaning that it was effectively
breaching the Investment Funds
Act 2003 and operating illegal-
ly.

This allowed the Securities
Commission to seek a receiv-
er/liquidator for Ivest.

The AMF said its investiga-
tion into Triglobal revealed that
between 1997-2007, the compa-
ny solicited Quebec residents
through agents, representatives
and its own officers to invest in
Ivest and Focus.

The principal amount invest-
ed varied from $10,000 to
$350,000, but the AMF alleged
that investors had recently
found it difficult or been unable
to recover their money, that the
investments were “illegal”, and
that Triglobal was not regis-
tered as a broker/dealer.

In addition, the AMF alleged
that Triglobal and its officers
had attempted to hinder the
investigation, appointing the
provisional administrator on
December 24, 2007, to take con-
trol of the company and pre-
serve its assets.

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THE TRIBUNE



THURSDAY, JANUARY 31, 2008, PAGE 9B

MM [Li ee ee

PM hits back on

Bill consultat

‘mg By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

PRIME Minister Hubert
Ingraham yesterday denied that
the Government did not con-
sult with the financial industry
when seeking to ammend the
Central Bank of the Bahamas
Act and the Banks and Trust
Companies Regulation Act.

Speaking in Parliament, Mr
Ingraham said the assertions
made by Fort Charlotte MP,
- Alfred Sears, and St Thomas
Moore MP, Frank Smith, were
“absolutely incorrect” as there
was extensive consultation on
both bills.

Mr Ingraham explained that
the Central Bank maintains an
open and constructive dialogue
with its licensees and industry
stakeholders, with public con-
sultation being the mode of
operation for the Central Bank
and other financial sector regu-
lations.

He added that the Central
Bank released its public con-
sultation paper on the proposal
for it to assume responsibilty
for the regulation and supervi-
sion of standalone money trans-
mission businesses on Feburary
27, 2007. It was posted on its
website ,and stakeholders were
further advised by e-mail that
the release had been posted.

The deadline for recieving
comments was set at March 30,
2007, Mr Ingraham said. After
the consultation period, he said
a meeting was held for indus-
try stakeholders on July 5, 2007,
where a summary document



NO orn

ama aM een

was presented. It was after this
process, he said, that the Cen-
tral Bank finalised its propos-
als and submitted them for gov-
ernment’s consideration.

Mr Ingraham also addressed
Mr Smith’s assertion that the
Bills would facilitate money
laudering.

“Again, this is absolutely

incorrect and displays a com-

plete and utter lack of knowl-

\
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Weddings &
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Of)



edge about the Anti-Money
Laundering/combating the
Financing of Terrorism regula-
tory regime ( AML/CFT) now
in place throughout much of the
financial world,” the Prime
Minister said.

He explained that the super-
vision and regulation of the
Money Transmission Business
had taken up the time and
resources of no less than three
financial sector regulators.

The Prime Minister said the
proposed legislation was intend-
ed to rationlise and simplify this
by placing it under the regula-
tory authority of the Central

“Far from facilitating money.
laundering, the Bills now before.
this House will do just the:oppo-'
site - they will frustrate efforts
to launder money through mon-
ey transmission businesses,” he
added.



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THE TRIBUNE

THURSDAY, JANUARY 31, 2008, PAGE 11B



Key Senator
acks jobless
aid as part of

m@ By ANDREW TAYLOR

Associated Press Writer

WASHINGTON (AP) —
A key Senate Republican
Wednesday swung behind a
bill to provide help to seniors
living on Social Security and
the unemployed as part of
the economic stimulus plan
that passed the House.

Sen. Charles Grassley of
lowa, top Republican on the
Finance Committee, said
Wednesday morning he will
support a bill by panel Chair-
man Max Baucus, D-Mont.,
that would pump $196 billion
into the economy over the
next two years.

The committee was to vote
on the bill later Wednesday
and the measure was expect-
ed to reach the floor prompt-
ly. “It’s going to be presented
as a bipartisan (bill),” Grass-
ley said.

The Finance Committee

chairman backs a proposal to.

add $35 billion to a House
bill passed on Tuesday to
include senior citizens and
the unemployed. It would
shrink the rebate to $500 for
individuals and $1,000 for
couples. It also would deliver
checks even to the richest
taxpayers, who are disquali-
fied under the House-passed
measure.

Grassley’s steps represent-
ed-a break with President

TABLECLOTHS
- THROW PILLOWS

Bush and Senate GOP
Leader Mitch McConnell, R-
Ky., who have called upon
the Senate to simply pass the
House-passed stimulus mea-
sure.

But Grassley told lowa
reporters that he believed the
Senate would act quickly on
the measure and that he and ,
Baucus would team up to try
to block further amendments
to the bill.

“If Baucus and I can work
together, we can keep
amendments down, keep it
from becoming a Christmas
tree,” Grassley said.

White House deputy press
secretary Tony Fratto, travel-
ing on Air Force One to Cali-
fornia with President Bush
Wednesday, said the disap-
pointing fourth quarter
growth rate should give the
Senate greater urgency to
pass the bill.

“We'd like to see some
leadership that will encour-
age members to put away
some of their pet ideas and
think about the bigger pic-
ture,” Fratto said.

He added that he does not
personally support $14 billion
in additional unemployment
insurance for workers whose
benefits have run out, but
that he is willing to go along
in exchange for Democratic
concessions such as eliminat-
ing a provision that would

$150bn stimulus

phase out rebates for individ-
uals and couples making
more than $75,000-$150,000.

Grassley also praised the
measure for giving rebate
checks to 20 million senior
citizens living on Social Secu-
rity. The House measure
would leave out many seniors
unless they earn a paycheck
or pay income taxes on their
non-Social Security income.

Baucus’ measure also
extends unemployment pay-
ments for 13 weeks for those
whose benefits have run out,
with 26 more weeks available
in states with a 6.5 percent
jobless rate or higher. His ini-
tial proposal would have pro-
vided the longer extension
for any state whose unem-
ployment rate exceeded 6
percent, but the trigger was
raised to control the cost of
the package.

Only Alaska, Michigan,
Mississippi and South Caroli-
na have jobless rates of 6.5
percent or more.

The Senate plan would
restore a business tax break
dropped during the House
negotiations that would per-
mit corporations suffering
losses now to reclaim taxes
previously paid.

Both packages include
roughly $50 billion worth of
tax incentives for businesses
to invest in new plants and
equipment.

WALL CLOCKS
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PICTURE FRAMES
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SALE STARTS

MONDAY JANUARY 28TH - SATURDAY FEBRUARY 1ST, 20

LOCATED: HARBOUR BAY SHOPPING CENTER
PH: 393-4440 OR 393-4448

4







WY}
Y




lll

FROM page 1B

partnership: “It means good
things for us.

“The benefits are obvious.
Clipper has tremendous oper-
ational experience, they have
tremendous reach and access to
the resources that are needed
to make a ferry business suc-
cessful, coupled with their
desire to be a part of a grow-
ing company. I think there are
tremendous benefits to it.

“These are the key areas that,
when we looked at bringing
them on as a strategic partner,
were where are needs were. We
thought they were the best fit
for us. We’re very excited about
it.”

Mr Rolle added that “part of
the package” the Clipper Group
was likely to “bring to the
table” would be to provide the
Bahamian company’s staff,
which is around 100 strong, with
the opportunity to gain train-
ing and operational experience
in its extensive global network.

Mr Rolle said: “One of the
things that has hampered us
over the years is that we are
learning as we go along.”

While there was no shortage
of global maritime colleges and
educational institutions, “there
is nothing like béing involved





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PAGE 12B, THURSDAY, JANUARY 31, 2008

[SE ee aE TOS TRE ISS Sa a

Clipper completes 28.72%
Bahamas Ferries stake deal

in a first class operation and
seeing what goes on there”.

Clipper Group already owns
Seatruck Ferries, a roll-on/roll-
off ferry service that services
the Irish sea market, and has
taken control of two Danish
companies involved in that
country’s inter-island ferry
transportation business.

The stake it has acquired in
Bahamas Ferries is a significant
minority one, indicating that
Clipper Group does not intend
to be a passive investor and is
likely to be active in both man-
agement and Board affairs.

The Tribune revealed the
deal between Clipper Group
and Bahamas Ferries in its 2007
New Year’s Eve edition.
Among the regulators that had
to approve the share purchase,
because the Clipper Group is a
foreign-owned entity, were the
Central Bank of the Bahamas
on exchange control approval,
and the National Economic
Council (NEC), which is really
the Cabinet.

In commenting on the deal
previously, Craig Symonette,
Bahamas Ferries’ chairman,
said: “The challenge we have in
this business is the rising cost
of fuel and the high cost of
maintenance and financing,
which will continue to hamper
our growth.”

Mr Rolle yesterday agreed
that fuel costs were a “major
factor” for Bahamas Ferries,
pointing out that when the com-
pany first started operating in
1999, the company was paying
just under $1 per gallon for
diesel fuel for its vessels. The
price had since risen to its cur-

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rent level of just below $5 per
gallon.

“That is a heavy, heavy cost
to bear for us,” Mr Rolle added.
He explained that Bahamas
Ferries was “looking at ways of
becoming more efficient”, and
one method had been to pur-
chase more efficient engines for
the Bo Hengy replacement due
to be delivered in mid-to-late
2008.

The current Bo Hengy’s
engines, Mr Rolle added, were
“fast engines” that had a high
fuel burn-up rate, something its
replacement would not have.
“This should allow us to as best
we can, hold prices,” Mr Rolle
added.

The ‘replacement vessel, he
said, will be called the Bo
Hengy II, “In looking at the
market value we have built-up
in the Bo Hengy, it’s just natur-
al to have selected that name,”
Mr Rolle added. “It’s part of
our brand.”

The Bo Hengy IIT name was
chosen after a naming competi-
tion, and Mr Rolle said the new
vessel would have an enhanced
level of amenities and passenger
comfort.

Detailing another benefit
from its strategic partnership,
Mr Rolle added: “In the past,
we’ve had some operational
challenges, particularly with the
preventative maintenance part
of maintaining the Bo Hengy
vessel.

“With the knowledge Clip-
per brings to our business and
marketplace, some of the things
encountered in the past we
should be able to pre-diagnose,
and keep the vessels running

THE TRIBUNE



on-time and on-schedule with
minimal impact because of
maintenance issues.” |

He said: “In terms of new
amenities and service quality,
Clipper operates in very sophis-
ticated markets, and has access
to up-to-date technology. We’re
going to see how best and prac-
tical it is to deploy this technol-
ogy in this marketplace.”

Bahamas Ferries operates
the Bo Hengy, Seawind and
Sealink. Apart from the Har-
bour Island and Eleuthera
route, the company’s vessels
also serve Fresh Creek and
Morgan’s Bluff in Andros,
Sandypoint in Abaco, The
Current, and Exuma.

Clipper Group, whose origins
can be traced back to 1972,
operates around 250 vessels
globally, owning some 100 of
those itself.

The company moved its cor-
porate head office to Nassau in
1997, about a decade ago, its
website describing Clipper
Group as having established
“strong and close links to the
Bahamian authorities”. The vast
majority of Clipper’s vessels fly
the Bahamian flag, and are reg-
istered on the Bahamas. Ship
Registry.

Clipper Group is headed by
its chairman and chief execu-
tive, Torben Jensen, who is also -
a permanent resident of the
Bahamas. Fleet operations are
managed from Denmark, and
the company has expanded
rapidly in recent years, embark-
ing on an extensive vessel new-
building programme as,jt shift-
ed from being a ship operator to
a ship owner. 5

st

TEACHING VACANCIES:

The Anglican Central Education Authority invites
applications from qualified Teachers for positions
available at St John’s College, St Anne’s School
and Bishop Michael Eldon School in Freeport an

St Andrew’s in Exuma.

PRIMARY - ALL LEVELS

SECONDARY - ALL SUBJECTS

Only qualified Teachers, with Bachelor or Master
--Degrees-from-an-accredited-University-or College—
and Teaching Certificate need apply.

For further details and application form, please
contact the Anglican Central Education Authority

Email resumes immediately to pr@ccmbahamas.com
on Sands Road at telephone (242) 322-3015/6/7.

y Fort Nassau Centre, Marlborough Street


P.O. Box N-4875, Nassau, Bahamas

Tel: (242)502-5000 ~ Fax: (242)328-0566 Letters of application and/or completed application

forms with copies of required documents must be
sent by Friday, February 29th, 2008 to the Anglican
Education Department addressed to:-

Applicants welcomed to small, informal, friendly work
environment. salary commensurate with qualifications
and experience.

The Director of Education
Anglican Central Education Authority
P.O. Box N-656
Nassau, Bahamas

Pricing Information As Of:
Wednesday, 30 January 2008
LEE
Previous Close Today's Close Change
Abaco Markets
Bahamas Property Fund
Bank of Bahamas
Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings
Commonwealth Bank (S1)
Consolidated Water BDRs
Doctor's Hospital
Famguard
Finco
FirstCaribbean
Focol (S)
Freeport Concrete
ICD Utilities
J. S. Johnson
10.00

120,000

2,000

sense sal
LE
52wk-Low
14.25 Bahamas Supermarkets
6.00 Caribbean Crossings (Pref)
; 0.20 RND Holdings
: o
Wb CHIE
41.00 ABDAB
14.00 Bahamas Supermarkets
0.40 RND Holdings

Last Price Weekly Vol.

1.376507"
3.7969**
3.00076**

Colina Money Market Fund
Fidelity Bahamas G & | Fund
Colina MSI Preferred Fund
Colina Bond Fund 1.291985**
Fidelity Prime Income Fund é 11.8192***
| - 2 = 1,000.00 YIEL 8 divided by clos:
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 fidality
Previous Close ~- Previous day's weighted price for daily volume Last Price - Last traded over-the-counter price
Today's Close - Current day's weighted price for daily volume Weekly Vol. - Trading volume of the prior week
Change - Change in closing price from day to day
Daily Vol. - Number of total shares traded today
DIV § - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month earnings
(S) - 4-for-1 ack Split - Effective Date 8/8/2007

tock

NAV - Net Asset Value
N/M - Not Meaningful





ay SAKE
fo 0% Kh

Div$ PI Yield

*. 18 January 2008
** ~ 31 December 2007
*** 31 October 2007

EPS $ - Acompany's reported earnings per share for the last 12 mths

FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

EMPLOYMENT OPPORTUNITY |
For Supervisor

Candidates should possess the following:

- Should be at least 27 years of age or older
- Good Customer Service skills are essential

- Pleasant Attitude

- Experience in restaurant business is helpful
- Own Transportation a plus
- Ability to operate on own initiative

- Team Player

You may fill out an application form at TOBY. Village
Road or Carmichael Road or mail resumes to: |

TOBY.

P.O. Box EE-15066
Nassau, Bahamas
or send via fax to 364-1309


THE TRIBUNE

THURSDAY, JANUARY 31, 2008, PAGE 13B







S to write

off $14bn

@ By DAVID JOLLY
c.2008 New York Times
News Service

PARIS — UBS, the largest -

Swiss bank, said Wednesday
that it would write off $14 bil-
lion in losses on the troubled
U.S. housing market and post
a net loss for 2007.

The write-offs will result in a
record fourth-quarter net loss
of approximately 12.5 billion
Swiss francs, or $11.4 billion,
the bank said in a preliminary
earnings statement. It also said
it expected to report a full-year
net loss of 4.4 billion francs for
2007.

The numbers “include
around $12 billion in losses on
positions related to the US.
subprime mortgage market and
approximately $2 billion on oth-
er positions related to the U.S.
residential mortgage market,”
the bank said.

UBS said Dec. 10 that it was
writing’ off $10 billion of sub-
prime’ investments for the
fourth quarter, so the numbers
Wednesday represented $4 bil-
lion more in losses than it had
previously disclosed.

“Once again this is a nega-
tive surprise,” said Andreas
Weese, a banking analyst at
UniCredit in Munich, Germany.
“T had assumed additional loss-
es, but not of this magnitude.”

The bank had already
announced a $4.4 billion loss on
subprime investments in the

third ‘quarter. The figures’

Wednesday bring its 2007 U.S.
- residential mortgage-related
’ losses to $18.4 billion.

Weese said the bank had not
provided much detail, but he
theorized that the downgrades
of “monoline” bond insurers in
the United States had weighed
on the results.

Because the values of U.S.
mortgage securities have con-
tinued to deteriorate, there

could still be more write-offs to
come in the first quarter of
2008, Weese said.

UBS shares in Zurich slipped
64 centimes, or 1.3 percent, to
46.12 francs.

The UBS chairman, Marcel
Ospel, has come under fire from
investors for the recent losses
and for plans to raise billions
of dollars in capital from
investors in the Middle East and
the Government of Singapore
Investment Corp.

Influential Swiss investors,
including Dominique Bieder-
mann, director of the Ethos
Investment Foundation, which
manages money for the Swiss
public pension funds, has called
for an independent audit of the
bank’s accounts and for share-
holders to elect a new chairman.
Ospel’s tenure as chairman is
set to end in April, but he must
face shareholders at a special

meeting scheduled for next
month to approve the funding

plans.

The bank, formed through a
merger of Union Bank of
Switzerland and Swiss Bank
Corp. in June 1998, had never
reported an annual net loss

before, said Christoph Meier, a

UBS spokesman.

Banks worldwide have
announced more than $135 bil-
lion in credit losses and write-
downs since the turmoil in the
USS. housing market started last
year, and some analysts esti-
mate that total write-downs
could reach $800 billion.

UBS said it would provide
further details on its financial
performance on Feb. 14, when it
publishes its final full-year and
fourth quarter 2007 results.

The bank also said it had tak-
en efforts to strengthen its cap-
ital base in the last quarter.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, STEPHEN OLIVER of the
Settlement of Mastic Point on the Island of Andros one of

the Islands of The Commonwealth of The Bahamas, intend
to change my name to STEPHEN ROLLE, If there are any
‘objections to this change of name by Deed Poll, you may
write such objections to the Chief Passport Officer, PO. Box
N-742, Nassau, Bahamas no later than thirty (30) cays after

the date of publication of this notice,



NASSAU REPAIR SHOP LTD.

, WE OFFER 1 YEAR GUARANTEE ON ALL EXHAUST SYSTEMS

SPECIALIZING IN:

e EUROPEAN, AMERICAN & JAPANESE CARS & TRUCKS
¢ EXHAUST SYSTEMS (CUSTOM WORK AVAILABLE)

¢ RADIATORS

¢ BODY REPAIRING & PAINTING

FEATURING

BAHAMAS OLDEST

RADIATOR
DEPARTMENT

OVER 30 YEARS OLD

LOCATED:
MACKEY ST. AND CHESAPEAKE ROAD
dg0-3/10/393-3716
FAX 394-8198

P.O. BOX N-1287

[UUW THE GREAT BAHAMIAN OIL CHANGE

iL

CHANGE

No Appointment Necessary
Open Monday - Saturday

S Castrol

Castrol Lubricants

WANTED

JEWELLERY SALES
PROFESSIONALS

Top Retailer of Fine Jewellery in the Bahamas
wanis to hire experienced and successful sales
associates to work in established stores located
on Paradise Island and Bay Street.











¢ Best BASE PAY in the country!
e Best COMMISSIONS in the country!








MUST HAVE AT LEAST ONE YEAR OF
JEWELLERY EXPERIENCE AND A PROVEN
HISTORY OF SALES EXCELLENCE!




Fax Resume to 393-5102 ~ Re: Sales Professionals



VACANCY FOR THE POSITION OF:

OFFICER-IN-CHARGE es
FAMILY ISLAND BRANCH OF A MAJOR
COMMERCIAL BANK ee

Core responsibilities:

Oversees fully the operation of the branch on the island which
includes providing instructions for all staff.

Conducts monthly and weekly audits by reviewing the work of
team members against bank procedures.

Ensures the balancing of half-yearly, quarterly, monthly, bi-monthly
and weekly listings.

Carries out account management such as: processing inquires,
account updates, holds, and the auditing and filing dormant account
files.

Performs duties of Treasury Custodian by distributing and receiving
cash shipments.

Performs a variety of other related duties such as: conducting cash
counts, holding treasury combination, preparing branch reports,
taking loan applications, performing lock-up duties, and preparing
safety deposit box correspondence.

Knowledge, Skills and Abilities:

Associates degree, or Institute of Financial Services Certificate,
and five (5) years of banking experience
In-depth knowledge of general bank policies, procedures and bank
services to appropriately direct and service customers.
Knowledge of specific governmental and banking laws, regarding
improper practices such as money laundering.
Knowledge of credit policies to process loan applications.
In-depth knowledge of customer services and the ability to
demonstrate duties to other persons in the branch.

Basic supervisory and management skills to counsel and direct
associates in performance and other matters.
Strong oral and written communication skills to interact with
customers and associates.

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

ON MOST CARS & TRUCKS
OIL CHANGE INCLUDES: SERVICE CHECK

New Car warranty Fan Belts
Fram Oil Filter Air Filter
Lube to Mfg.Specifications [7] Crank Case Breather
Up to 5 Qts.of Oil C.V. Joint Axle Boots
Differential Oil Level
Transmission Fluid Level

Interested per: ater than February sth to:
[7] Transfer case Fluid Level persons should apply no later than February 1 2008 to

[“] Brake Fluid Level

Power Steering Fluid Level
Battery Condition (External)
[Â¥]Windshield Washer Level

c/o The Tribune
DA#04604
P.O. Box N-3207
Nassau, Bahamas






PAGE 14B, THURSDAY, JANUARY 31, 2008

THE TRIBUNE



Rum Cay developer

‘finishing off’ finance

Mercedes Benz CLS
Limited Edition
Fully Loaded; only 7000 miles

driven in Lyford Cay
JustLike New! ‘

asking: $110,000

great deal for an executive!!!!



UBS (Bahamas) Limited is seeking a suitably
qualified individual to join our growing and
dynamic team as a:

Data and Document
Management Specialist

The main duties of this position are:.

e Review of client KYC and related account
opening documentation
e Account opening and maintenance

e Addressing client advisors’ requests.and. ..

queries
e Handling client correspondence

Candidates must possess:

e Strong organizational and analytical skills

e Broad knowledge of “know your
customer” laws and regulation
requirements

¢ High level of self-motivation and ability
to work independently

e Attention to detail, accuracy and
commitment to service excellence

e Proficient in MS Office Applications

e Associates degree or above in Business

Administration, Accounting or related field

Prior experience performing similar duties in
a private bank or trust company is an asset.

_Please send your written application by
February 8, 2008 to: .

hrbahamas@ubs.com
or
-UBS (Bahamas) Ltd.
Human Resources
P.O. Box N-7757
Nassau, Bahamas
Attn: Private Client Document Specialist

Storewide

*

ay

FROM page1B

that Bobby Little has built up
over the years. It [Sumner Point
Marina] will be very successful.
It’s a nice platform for the
development of the southern
coast land that Montana owns,
both at Sumner Point and the
897-acre site.

“It’s coupled with a more
challenging environment, but at
the same time will be successful.

We have the ability to go
through with the Sumner Point
development, the beachfront
lots and roll into the next phase
of the development. We’ve got
the financing, and got more
investors coming to make it
quite good for the future.”
Montana Holdings had pre-
viously received permission
from the relevant government
authorities, including the Civil
Aviation Department and Min-
istry of Works, to construct a

NOTICE

NOTICE is hereby given that ALIOS PIERRE of SEA BREEZE,
NASSAU, BAHAMAS, is applying to the Minister resposible for
Nationality and Citizenship, for registration/naturalization as a
citizen of The Bahamas, and that any person who knows any

reason why registration/ naturalization should not be granted,
should send a written and signed statement of the facts within
twenty-eight days from the 31ST day of January, 2008 to the
Minister responsible for Nationality and Citizenship, P.O.Box N-
7147, Nassau, Bahamas.

Legal Notice

NOTICE

ERAWAN LTD.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act
2000, the dissolution of ERAWAN LTD. has been com-
pleted;:a: Certificate of Dissolution has been issued.and
“the:Gompany’ has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

GIGANTIC POSSIBILITIES LTD.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act
2000, the dissolution of GIGANTIC POSSIBILITIES
LTD. has been completed; a Certificate of Dissolution has
been issued and the Company has therefore been struck

off the Register.

ARGOSA CORP. INC.
(Liquidator)

new terminal building and .

extend the runway at Rum
Cay’s airport.

Mr Farrant said the develop-
er had not decided yet when to
commence with these projects,
but pledged that Montana
would “put in temporary facili-
ties with the intention, as our
Heads of Agreement says, of
building a new terminal in the
future, including accommoda-
tion for Customs and Immigra-
tion”. .

Montana Holdings earlier this
week told The Tribune that the
project’s progress has been
“severely impeded” by a series

- of “scurrilous attacks” mount-

ed against it, plus the “confu-
sion” caused by a rival hotel
development with a similar
name that appears to be claim-
ing land it already owns.

- within three weeks

Mr Farrant said the net
effect of these challenges had
been to deter potential
investors in both the company
itself and the residential, real
estate component of the devel-

' opment.

He added that another ele-
ment impacting Montana
Holdings’ project was the
“confusion” caused by a rival
project that has yet to be
approved by the Government.

That development, Rum
Cay Club, Marina and Spa,
had a similar name to Mon-
tana Holdings’ project, Mr Far-
rant said, and according to its
website was purporting to be
located on a site that was not
only next to his company’s
land, but also incorporated the
property on which Montana’s
marina resided.










NOTICE

NOTICE is hereby given that STEPHEN GODFREY DICKSON
of WEST BAY STREET, CB-12724, NASSAU, BAHAMAS,
is applying to the Minister resposible for Nationality and
Citizenship,. for registrationaturalization as a citizen of The
Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should send
a written and signed statement of the facts within twenty-eight
days from the 31ST day of January, 2008 to the Minister
responsible for Nationality and Citizenship, P.O.Box N- 7147,
Nassau, Bahamas. . ,

MANAGING EDITOR
‘WANTED:

THE TRIBUNE seeks a Managing Editor to add a new
chapter to this newspaper's continuing success story.






















Candidates will need to be seasoned journalists of
the highest calibre with relevant professional
qualifications and a proven track record in newspaper
management.





Superior editing skills, excellent command of the
English language, sound judgment and outstanding
writing ability are essential requirements for this
demanding position. You will also need to be totally
conversant with the Apple-Quark Xpress computer
editing system, with relevant page make-up expertise.






If you think you qualify, please send a covering letter
and resume, together with work samples, to The
Publisher, The Tribune, PO Box N-3207, Nassau,
Bahamas. ek











Please include references from past employers and
a short statement saying why you qualify for this post.




An attractive salary package, paid vacation and
company medical insurance scheme are on offer to
the successful candidate

No Phone Calls Please
Our benefits include paid vacation
& medical insurance.

- The Tribune

Nassau and Bahama Islands’ Leading Newspaper









Pre-invento





* Except on red tagged and net items

OFF Kelly's

Jan 26th - Feb 2nd, 2008

= ¢

WN
Qe

Wy LU sh | “
SAVE =
\

Houses
Home

Mall at Marathon
Monday-Friday 9:00am-8:00pm
Saturday 9:00am-9:00pm
Sunday fel fersc)
www.kellysbahamas.com

Tel: (242) 393.4002
Fax: (242) 393-4096


THE TRIBUNE



THURSDAY, JANUARY 31, 2008, PAGE 158





US economy close to



zero growth in 2007 Q4

m@ By JEANNINE AVERSA

AP Economics Writer

WASHINGTON (AP) —
The economy nearly stalled in
the fourth quarter with a growth
rate of just 0.6 per cent, cap-
ping its worst year since 2002.

Wednesday’s Commerce
Department report showed that
the economy that deteriorated
considerably during the Octo-
ber-to-December quarter as
worsening problems in the
housing market and harder-to-
get credit made individuals and
businesses more cautious in
their spending. Fears of a reces-
sion have grown, even as infla-
tion remained elevated.

For all of 2007, the economy
grew by just 2.2 per cent, the
weakest performance in five
years, when the country was
struggling to recover from the
2001 recession. The housing col-
lapse was the biggest culprit;
builders slashed spending on
housing projects by 16.9 per
cent on an annualized basis, the
most in 25 years.

The gross domestic product
report for the last quarter of
2007 came as the Democratic-
run Congress and the Bush
administration continued to
work on a program of tax
rebates and business incentives.

“We are not happy with 0.6
per cent GDP growth,” Com-
merce Secretary Carlos Gutier-
rez told The Associated Press.
“We now need the full Con-
gress to move forward as soon
as possible because consumers
— the American people — are
waiting for that check and that
is going to help them.”

Sen. Charles Schumer, D-
N,.Y., said when economic
growth slowed as much as it did
in the final quarter “alarm bells
should be going off urging
Washington to give the econo-
my a good shot in the arm.”

On Wall Street, stocks slid.
The Dow Jones industrials were
down around 35 points in trad-
ing around noon.

The fourth-quarter’s perfor-
mance was: much weaker — half
the pace that economists were
expecting. :

“The economy has been sub-
ject to something of the perfect
storm here. It has been hit by
the housing slump the credit
squeeze, the subprime slime and
stock price declines on Wall
Street,” said economist Ken
Mayland, president of
ClearView Economics. “The
economy is weathering some
pretty stormy seas but it is
weak.”

The 0.6 per cent annualized
increase in gross domestic prod-
uct (GDP) marked a big loss of
momentum from the third quar-
ter’s brisk, 4.9 per cent show-
ing. The fourth-quarter pace
was the slowest since the first
quarter of last year.

The GDP figures come as
worries mount that the country
is on the verge of a recession
or perhaps is already sliding into
one.

The administration remained
hopeful that a recession could
be skirted.

“We are not forecasting a
recession,” White House
spokesman Tony Fratto said.
Gutierrez said: “We are looking
at slower growth, and the indi-
cators — the facts, the numbers
we have at out disposal — sug-
gest that is what we will see”
for the first half of the year, the
commerce secretary said. He
said the economy should return
to a more solid growth rate in
the second half.

GDP measures the value of
all goods and services produced
within the United States and is
the best barometer of the coun-
try’s economic health.

In the fourth quarter, con-

sumer spending slowed to a
pace of two per cent, down
from a 2.8 per cent growth rate
in the prior quarter. For all of
last year, consumers boosted
spending by 2.9 per cent, the
smallest increase since 2003.
. Businesses also watched their
spending more closely during
the final quarter of last year.
Fearing a lessening appetite
from their customers, they cut
inventories of goods. That
shaved 1.25 percentage points
from fourth-quarter GDP, the
most in a year.

Spending by businesses on
equipment and software slowed
to a pace of 3.8 per cent in the
fourth quarter. For the year,
such spending was up just 1.4
per cent, the worst showing
since 2002.

Sales of U.S. goods and ser- ©

vices abroad also slowed sharply
in the fourth quarter. Exports
grew at a 3.9 per cent pace,
compared with a sizzling 19.1
per cent growth rate in the third
quarter. That strong export
growth was a key reason why
the economy performed so well
as a whole in the prior quarter.
For all of 2007, exports grew by
7.9 per cent, the slowest in two
years.

Meanwhile, inflation picked
up sharply during the final quar-
ter. However, for all of 2007, it
moderated slightly.

A gauge of inflation linked
to the GDP report showed that
“core” prices — excluding food
and energy — grew at a rate of
2.7 per cent in the fourth quar-
ter. That was up from a two per
cent rate in the prior quarter
and was the biggest quarterly
increase since the spring of
2006.

For all of last year, core prices
went up 2.1 per cent, down from
2.2 per cent in 2006. The infla-
tion figures are above the Fed’s
comfort zone — the upper
bound of which is a two per cent
inflation rate.

High energy prices are a dou-
ble-edged sword. They can put
a damper on growth and also
stoke inflation, which would be
a dangerous combination for
the economy. The inflation fig-
ures could complicate the Fed’s
job of trying to energize overall
economic growth while also
keeping inflation under control.

Some analysts think the econ-
omy is on pace to recede from
January through March. Under
one rough rule, the economy
would have to contract for six
months in a row for the country
is considered to be in a reces-
sion. The odds of a recession
have risen sharply over the last
year, and analysts increasingly
believe the U.S. will be in one
during the first half of this year.

THE RETREAT, VILLAGE ROAD

Saturday 2‘ February, 2008

10.00 am to 2.00 pm

Featuring

Flamingo Nursery & The Green House Nursery



And many of our members

BUSINESS







od

THE WESTIN ‘Ss

4h ae
GRAND BAHAMA ISLAND Sheraton
OUR LUCAYA Grand Bahama Island
Resort our LUCAY ‘

{1 RET aa SEU

EXCELLENT CAREER OPPORTUNITY EXISTS FOr
Banquet Manager

The successful candidate will be responsible for leading a team of banquet stewards for

Freeport, Grand Bahama

cleaning, setting up and maintaining all banquet functions as well as all stewarding work i
related to the banquet department. }
Candidate should possess the following minimum requirements: }
° Excellent oral and written communication skills; |
e Knowledgeable in computer programs, Excel, Microsoft word, and Delphi; |
° Bachelor’s degree in hospitality management or business management
preferred; |

* Minimum of five years hospitality experience in food and bever age W ith al '
least two years in a supervisory position. j

ff

We offer exceptional pay and benefits. f

Resumes should be forwarded on or before February 15", 2008 to:
ourlucayajobs@starwoodhotels.com or ;

The Westin & Sheraton Grand Bahama Island Our Lucaya Resort }

P.O. Box F-42500 :

d































Book } your Sights. rent cars
and hotel rooms ANYTIME,

ANYPLACE without picking up
the phone! . j

Certified Travel Agents
standing by!



All tickets issued locally!



j
Last minute deals & specials! |
a
4
i

For Information on Baggage,
Weather, Family Islands,
Visas’ &® much, much more visit

us today!

#57 Collins Avenue

Tel: 328-0264 / 328-0257

info@premiertravelbahamas.com

Security & General
INSURANCE

ACCOUNTS ASSISTANT

Security & General Insurance Company Limited (S&G), part of the
Colonial Group of Companies (CGI) with headquarters in Bermuda, is
seeking an Accounts Assistant.

ip opr naoe ernest, me tee ae

PEST

CGIL, with offices in Bermuda, the Cayman Islands, the British Virgin
Islands as well as the Bahamas, offers a complete range of premie!
financial and insurance services and, over the past few years, has
undertaken significant growth. This is an opportunity to be part of a
rapidly growing innovative company, focusing on providing clients with |
first class service and access to competitive products. |

ena woe mE

Based in Nassau and reporting to the Accounts Supervisor for Secur'ty
& General, duties will include, but not be limited to the following:

Accounts Payable

Reconciliation of reinsurance broker accounts

Daily posting and application of insurance payments
Preparation of accounting journals

Special assignments

File maintenance

Minimum requirements for this position are:

e 2-3 years bookkeeping experience

e At least an Associates Degree in Accounting or equivalent

e Good oral and written communication skills (verbal, written
and presentation)

e Proficiency in MS Office products

e Ability to work within a team environment

Compensation for the successful candidate will be attractive, linked to
performance and relevant to experience and qualifications. Security
& General offers an attractive benefits package that includes
comprehensive medical insurance, contributory pension plan and life
insurance.

If you have a keen commitment to quality results and want to contribute
your talents to a dynamic company, contact us about this opportunity
Applications will be treated in the strictest confidence and should be
mailed to the Human Resources Manager, at P. O. Box N-3540 or faxed
to 323-2880.

Closing Date for applications is February aqth 2008.
PAGE 16B, THURSDAY, JANUARY 31, 2008

TRIBUNE SPORTS



_ FORRENT ©
PARADISE ISLAND

RESIDENCE WITH SPECTACULAR VIEWS
OF NASSAU AND ITS HARBOUR:

e 5,000+ sq ft. total area

¢ 4 Bedrooms with 4.5 baths

e Master bedroom with dressing area, Jacuzzi
tub and large walk-in closet

* Large balconies

e Elegantly furnished throughout with a
separate study

e Formal dining room

® Private elevator

* Heated pool and spa overlooking the harbour

e Private dock for a yacht up to 75 feet

*® Dedicated storage and crew areas

e Exercise room

* Indoor Garage

® Private gated entry

¢ Lush tropical landscaping

Rent: $18,500.00 per month net
NO PETS

For further information and viewing call:
363-2730



-MINISTRY OF FINANCE



Film

BUSINESS

udios key



recovery source
for ‘insolvent’ firm

@ By NEIL HARTNELL
Tribune Business Editor

LIQUIDATORS for an
allegedly “insolvent” insurance
company that re-domiciled to the
Bahamas to keep its assets away
from creditors believe the pend-
ing sale of the Grand Bahama-
based Bahamas Film Studios
project could provide some
return for those seeking to recov-
er sums owed.

Richard Fogerty and William
Tacon, the liquidators for for-

mer Nevis-based Condor Insur- ’

ance, said in a court-filed docu-
ment that they had uncovered
evidence that the company
owned 18.9 million shares in

GN638

BUSINESS LICENCE ACT

CHAPTER 329

The Public is hereby notified for general information of the
following provisions under the Business Licence Act, as

amended:

Section 3 (1) subject to Section 5 and 6, every person
who in any year carries on any business with a view to
| obtaining a turnover shall before the 1st October and the
30th April of every Sees, year make an application in
the prescribed manner to the Minister for an annual business
licence in respect of the carrying on of that business.

Section 3 (5) “notwithstanding anything to the contrary in
any other Law, but subject to Section 7 and 12 (2), where
the carrying on of a business is subject to a licence being
granted pursuant to an application made under any other law,
any such licen i ued de other law_in_respe

na ease td

of a busines any period

have effect for
he holder of alicence issued

under this Act.”

Section 4 (1) subject to any regulations made under this Act,
a person shall unless he is exempt therefrom, by virtue of an
order made by the Minister determine and pay for a licence in
relation to the business described hereunder the appropriate fee
computed subject to the provisions of subsection 3 (A) and 3 (D)...

| Section 15 states, “every person who,

a) subject to Section 7 and 12 (2), in any year without lawful
excuse carries on a business in respect of which there is no
licence in force;

b) contravenes the provisions of Section 3 (1).

| c) fails without reasonable excuse to furnish any particulars or
information within the time specified by the Secretary or by
regulations made under this Acct.

in a return, information or particulars furnished under this
Act, makes a statement which he knows to be false in a
material particular or recklessly makes a statement which is
false in a material particular;

in relation to any business, knowingly keeps or preserves,
or causes to be kept or preserved, any book, record or
account which is false in any material particular, or makes or
causes to be made in any book, record, account or return
any entry which is false in any material particular;

obstructs the Secretary in the exercise of his functions
under this section; or

is knowingly concerned in, or in the taking of steps with a
view to, the fraudulent evasion by him or vy other person
of any fee payable under this Act, is guilty of an offence and
is liable on summary conviction thereof;

i. to a fine of ten thousand dollars ($10,000.00) or to imprisonment
for two (2) years;

ii. in addition to any fine, a sum of not less than two
hundred and fifty dollars ($250.00) and not more than
one thousand dollars ($1,000.00) for each
day the offence continues subsequent to the date to
which the conviction relates; and

iii. five times the amount of any sum shown to the court
that would have been payable as a licence fee but for
the commission of the offence; and

iv. in respect of a conviction for an offence under paragraph
(a), to have his goods, machinery and equipment used
in connection with, or that were the subject of, the

business to which the conviction relates, forfeited and
sold or otherwise disposed of as the Court sees fit.



Ashby Corporation, the ultimate
Bermuda-registered holding
company for the Bahamas Film
Studios.

The details were disclosed in
filings detailing the liquidators’
response to attempts by Ross
Fuller, chairman of both Ashby
Corporation and the Bahamas
Film Studios, to quash subpoenas
they had been attempting to
serve on him regarding the pro-
duction of documents relating to
Condor Insurance, which they
believe are in his possession.

Messrs Fogerty and Tacon
alleged that based upon infor- -
mation they had recovered, Mr
Fuller and his company, Stock-
ton, Fuller & Company, which
has offices in Nashville and
Atlanta, were Condor Insur-
ance’s investment bankers.

They pointed out that Mr
Fuller had not denied this in his
response to their original attempt
to subpoena him, acknowledg-
ing that the company “has acted
as a consultant to the Condor
Companies for some 10 years”.

The liquidators alleged: “Mr
Ross Fuller and Stockton, Fuller
& Company have significant con-

The Tribune

: |
R er i

nections to [Condor] through
Ashby Corporation. The [liq-
uidators] have information indi-
cating that [Condor] owned 18.9
million shares of Ashby Corpo-
ration.

“It also appears that 12 mil-
lion of those shares were trans-
ferred just prior to the winding-
up proceeding, from [Condor] to
Unified Investments, a US com-
pany with offices in Arlington,
Texas. It does not appear that
any consideration was paid for
by this transfer.”

The liquidators based this
assertion on a March 29, 2006,
fax sent by Harvey Milam, Con-
dor Insurance’s president, to a
Christoph Birrer at AIG Private
Bank in Zurich, Switzerland.

AIG Private Bank, The Tri-
bune has been able to confirm,
was effectively acting as custo-
dian for much of Ashby Corpo-
ration’s stock. Mr Milam asked
Mr Birrer to “transfer all Ashby
stock held by AIG Private Bank
on behalf of Condor Insurance”
to a Utah-based corporation,
Alpine Securities, which was
then to credit them to Unified
Investments.

Pace

IRS uen cui nec eee

Everywhere The Buyers Are!

GN-639

GOVERNMENT NOTICE

MINISTRY OF PUBLIC WORKS AND TRANSPORT

GLASS WINDOW

BRIDGE REPAIR/

FORTIFICATION PROJECT

The Government of The Bahamas, through the Ministry of Public
Works & Transport, seeks to hire a construction firm to provide
the requisite services for the upgrade of the Glass Window Bridge,

Gregory Town, Eleuthera.

The long term goals for the transportation and safety needs of the
island of Eleuthera, dictate that the Government of The Bahamas
replaces the existing bridge with a Causeway - In the interim,
however, the Government seeks to maintain a safe land link
between North and Central Eleuthera, via the existing Glass

Window Bridge.

Tenders are hereby invited for the Glass Window Bridge
Repair/Fortification Project. All interested parties, both local &
International, are invited to collect Tender Documents after payment

of a non-refundable fee of Fifty

Dollars. Payment may be in the

form of cash, certified check, bank draft or money order and made
payable to the Public Treasury of The Bahamas.

Interested parties may collect the Tender Document beginnin
y g

31st January, 2007 between the
Monday to Friday from:

The Secretary
| Civil Engineering Section
Ist Floor East Wing,

hours of 10:00am and 4:00pm,

Ministry of Public Works and Transport,

John F. Kennedy Drive,
P.O. Box N-8156
Nassau, Bahamas

Telephone: (242) 322-4830 Extm. 4042

Fax: (242) 302-9770

Email: melanieroach@ BAHAMAS.GOV.BS

Please note that evidence of payment of the above-stated fee must
be provided, prior to the release of documents.

Tender Documents must be fully completed in accordance with

the instructions therein.

The original and three (3) copies of the completed proposal must

be placed in a sealed envelope

clearly marked on the outside,

“Tender Document Glass Window Bridge Repair/Fortification”

and deposited in the Tender Box

at the Ministry of Finance, Cecil

Wallace Whitfield Building, West Bay St., Nassau, The Bahamas
no later than 10:00am on or before Tuesday, 12th February, 2008.

Applicants will be notified of the results of their submissions,
following the evaluation of the documents.

Signed
Colin Higgs
PERMANENT SECRETARY



Mr Milam specified that Uni-
fied Investments was “an affiliate
of Condor, and is a transfer, not
a sale”.

And the liquidators also
uncovered a January 11, 2005,
memo signed by Mr Milam on
Condor Insurance paper, which
said: “Ross Fuller is empowered
to act on behalf of Condor Insur-
ance in regards to its position in
Ashby Corporation.”

In their filing, the liquidators
said: “Mr Ross Fuller was, and
may still be, chairman of the
Board of Ashby Corporation.
Upon information and belief,
Ashby Corporation owns 100 per
cent of Gold Rock Creek Enter-
prises, which in turn owns the
Bahamas Film Studios.

“Upon further information
and belief, the Bahamas Film
Studios owns the film studios in
the Bahamas in which Disney
filmed Pirates of the Caribbean
II and II.

“According to reports from
the Bermuda Stock Exchange,
Ashby Corporation and its sub-
sidiaries are attempting to sell
the Film Studios. Any value
could ultimately flow up to the
stockholders of Ashby Corpora-
tion, and may benefit [Condor’s]
estate should the liquidators
obtain a return of the Ashby
Corporation stock.” \

The court filing also alleged
that Gold Rock Creek Enter-
prises and Mr Fuller’s investment
bank owed $650,000 to Condor,
a debt that had since been trans-
ferred to Bahamas-registered
Condor Guaranty Inc, the com-
pany formed to hide Condor’s
assets.

Gold Rock Creek was the -

immediate holding company for
the Bahamas Film Studios. Fur-
ther, Condor Insurance is under-
stood to have been the insurer
for the $9.95 million loan the
Bahamas Film Studios obtained
from FirstCaribbean Interna-
tional Bank (Bahamas) to can-
struct its water tank.

The insurance guarantee put
up by Condor Insurance has
since been taken by the bank,
meaning that the Bahamas Film
Studios now owes $9.95 million
to Condor Insurance.

The Bahamas Film Studios are
in the process of being sold to
Bahamas FilmInvest Interna-
tional, the group put together
and headed by Bahamian
banker, Owen Bethel, head of
the Nassau-based Montaque
Group.

A significant chunk of the pur-
chase price he will receive will
be used by Mr Fuller to settle
the Bahamas Film Studios’ lia-
bilities, the biggest of which is
that $9.95 million loan.- There-
fore, Condor Insurance many
find itself in the position of a size-
able debt being repaid to it by
its long-term financial advisor,
Mr Fuller.

The liquidators have reissued
subpoenas to Mr Fuller, after
renaming them to reflect the
investment bank’s correct name.
His motion to quash the previous
subpoenas has been denied.

A lawsuit filed by Condor
Insurance’s liquidators in the US
Bankruptcy Court for the south-
ern district of Mississippi alleged
that Condor Insurance trans-
ferred its assets to Condor
Guranty, the Bahamian compa-
ny to put them “beyond the
reach of Condor Insurance’s
creditors”.

’ Alleging that Condor Guar-
anty was acting as a constructive
trustee of Condor Insurance’s
assets, and that it “acted dishon-
estly” in the asset transfer, the
lawsuit claimed: “Despite being
organised under Bahamian law,
Condor Guaranty does not
appear to be a registered insur-

ance company in_ the
Bahamaz.......
“Condor Guaranty is current-

ly operating as an insurer from
the Bahamas. The insurance
business is a highly regulated
industry, and there are stringent
requirements for the conduct of
this business and for the required
asset base for insurers.

“In order to engage in busi-
ness as an insurance company,
which is incorporated in the
Bahamas, it appears that Con-
dor Guaranty should be regis-
tered with the Registrar of Insur-
ance of the Bahamas, but.it is
not.” \

Condor Guaranty, the liq-
uidators alleged, did not appear
on the Registrar’s list of compa-
nies licensed to operate from the
Bahamas.
THE TRIBUNE



MM rik hi
Bank’s shareholders back $5.1m dividends pay-out

AS



SHOWN (|-r) are retiring chairman T. Maitland Cates, Hartis Pinder, Marvin Bethel, Paul McWeeney, Peter Thompson, Dr Pandora John-

THURSDAY, JANUARY 31, 2008, PAGE 17B x

BANK of the Bahamas Interna-
tional shareholders have ratified the
payment of some $5.1 million in divi-
dends for the fiscal year ending on
June 30, 2007, as well as electing a
new Board of Directors at the its
Annual General Meeting (AGM).

Hotelier Robert ‘Sandy’ Sands and
Treasury financial secretary Ruth Mil-
lar were returned to the Board. New-
ly-elected directors include former
banker and businessman Wesley Bas-
tian, insurance executive Marvin
Bethel, attorney Ruth Bowe-Darville,
insurance executive Patricia Her-
manns, College of The Bahamas edu-

cator Dr Pandora Johnson, chartered:

accountant MacGregor Robertson,
attorney Hartis Pinder, insurance
executive Patrick Ward and retired
banker Peter Thompson. Managing
Director Paul McWeeney remains on
the board in his executive capacity.
With 74 per cent of the outstanding
shares represented at the meeting held
at the British Colonial Hilton, share-
holders ratified payment of $5.1 mil-
lion in dividends during the fiscal year,
including $4 million to ordinary share-
holders and the remainder to those

holding preference shares,



The bank’s net income for the year ‘

stood at $10.8 million, following major
capital investment in a new core oper-
ating system that allowed for three-

day clearance of US dollar deposits °

and Automated Clearing House -

(ACH) introduction.

“Viewing the past two years, Bank #

of the Bahamas International’s per-

formance has been nothing short of «
stellar, with net income growing at a _

rate of 53.7 per cent, outstanding by
any measure or standard,” Mr
McWeeney advised shareholders in
the bank’s annual report.

“In fact, the bank has earned more
than $100 million through dividends, «
sale of shares and share appreciation «
for the Government in the past 10 |

years... At the same time, we are con-

stantly aware of our responsibility to “

all shareholders, the 4,000 individu-

als who have placed their trust in the _

bank and our vision.” Government

owns 51 per cent of the bank’s shares. *

Those shareholders saw the bank’s
assets grew 45 per cent in 2006, and

ended the fiscal year 2006-2007 at â„¢

$658 million.

son, Ruth Bowe-Darville, Wesley J. Bastian, Patrick Ward, and Robert Sands. Not pictured are Patricia Hermanns, MacGregor Robertson
and Ruth Millar

Do You Want To Make

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People re currently earning

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¢ Work from home
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We are looking for serious
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Call 394-3020



“5 Jaek-Ruggell Terrier (Female)
a Name: Freckles
Missing since Wednesday 23rd,
January.2008.
From: Corrie Acres, Adelade Rd.
Please Call: 362-1363
Reward Offered. No Questing Asked

NOTICE
‘ RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the
following:

“ALL THAT” piece parcel or lot of land being Lot #3391
Sir Lynden Pindling Subdivision, situated in the Southern
District on the Island of New Providence one of the islands of
the Commonwealth of The Bahamas. Situated theron is a Single
Family Residence, consisting of (3) three bedrooms, (2) two

bathroom.
Property Size: 5,000 Sq Ft
Building Size: 1,312 Sq Ft

This property is being sold under Power of Sale contained
a Meroe to FINANCE CORPORATION OF BAHAMAS

i
All offers should be forwarded in writting in a sealed
enevelope, addressed to the Manager, Royal Bank
Collections Centre, PO. N-7549, Nassau Bahamas and
marked “Tender 2214”. All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.

RBC

_ NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the
W following:

“ALL THAT” piece parcel or lot of land being Lot #2 of
Tract Northernside of Adelaide, situated in the Western
District on the Island of New Providence one of the islands of
the Commonwealth of The Bahamas. Situated theron is two Town
Houses consisting of 1-(2) two Bedrooms, (2) two Bathrooms and
1 + (3) Bedrooms, (2) Bathrooms.

Property Size: 5,756 Sq Ft
Building Size: 1,715 Sq Ft

'
This ‘property is being sold under Power of Sale contained
ence: to FINANCE CORPORATION OF BAHAMAS
TED.

All offers should be forwarded in writting in a sealed
enevelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked “Tender 3359”. All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.








NOTICE

NOTICE is ey el that RAYNALD OLIBRICE of
P.O. Box AB-20779, MARSH HARBOUR, ABACO,
BAHAMAS is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 31ST day of
JANUARY 2008 to the Minister eee for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.



NOTICE

Pursuant to the provisons of Section 138 (3) of the
International Business Companies Act, 2000, notice
is hereby given that UKRAINE VALUE OPPOR-
TUNITIES FUND LTD. has been dissolved and
struck off the Register of Companies as of 21.

January 2008. ert ot

Deirdre M. McCoy/ Anthony L.M. Inder Rieden
Liquidators

| NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the
following: :

“ALL THAT” piece parcel or lot of land being Lot #42,
Foxdale Subdivision situated in the Eastern District on the
Island of New Providence one of the islands of the Commonwealth

of The Bahamas. Situated theron is a Single Family. Residence, .

consisting of (3) three bedrooms, (2) two bathroom.

Property Size: 6,329 Sq Ft
Building Size: 1,247 Sq Ft

This property is being sold under Power of Sale contained
in a Mortgage to FINANCE CORPORATION OF BAHAMAS
LIMITED.

All offers should be forwarded in writting in a sealed
enevelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked “Tender 0810”. All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the
following:

“ALL THAT” piece parcel or lot of land being Lot #1218
Golden Gates Subdivision, situated in the Western District
on the Island of New Providence one of the islands of the
Commonwealth of The Bahamas. Situated theron is a Single Family
Residence, consisting of 3 Bedrooms, 2 Bathrooms.

Property Size: 5,000 Sq Ft
Building Size: 1,315 Sq Ft

This property is being sold under Power of Sale contained
ina Meraage to FINANCE CORPORATION OF BAHAMAS
LIMITED.

All offers should be forwarded in writting in a sealed
enevelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked “Tender 4042”. All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.



CHIBAH SYSTEMS

rw Customized Technology

Sales Representative
WANTED

DESCRIPTION

Chibah Systems Ltd., one of the fastest growing technology
companies in the Bahamas, has an opening for a dynamic
and experienced Sales Representative. The successful
candidate should be hard working, a team player, and must
have refined interpersonal and customer service skills.

REQUIREMENTS
The individual we seek will be responsible for maintaining
relationships with existing target customers and
prospecting for new customers based on established sales
strategies. The Individual must possess:
A minimum of 5 yeas of sales experience and
relationship building with business accounts.
Outstanding verbal and phone communication
skills.
Ability to get to decision-makers, establish a
rapport and get them excited about our qualify
products and services.
Customer focus in maintaining strong relationship
..... «Ships with accounts to ensure ongoing business
‘« ~~™““'Professionalism and integrity in representing the
RS "* 6ompany. ~*~ mies LAF AGS +S. oat
The ability to close
Must have own transportation.

Please send resume with salary requirements to:
Chibah System Itd.
Attn: Sales Manager
P.O. Box F-600
Freeport, Bahamas
or send email to BGray@chibahsystems.com

NOTICE
RBC FINCO INVITES TENDERS |

RBC FINCO invites tenders for the purchase of the
following:

“ALL THAT” piece parcel or lot of land being Lot #13
College Gardens, situated in the Western District on the
Island of New Providence one of the islands of the Commonwealth
of The Bahamas. Situated theron is a Duplex consisting of (2) two
bedrooms, (1) bathroom.

Property Size: 6,420 Sq Ft
Building Size: 1,456 Sq Ft

This property is being sold under Power of Sale contained
in 7 Moneede to FINANCE CORPORATION OF BAHAMAS
LI D.

All offers should be forwarded in writting in a sealed
enevelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked “Tender 8592”. All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the ¢
following:

“ALL THAT” piece parcel or lot of land being Lot #26 Frelia
Subdivision, situated in the Southern District on the Island
of New Providence one of the islands of the Commonwealth of
The Bahamas. Situated theron is a Single Family Residence,
consisting of (3) three bedrooms (2) two bathroom.

Property Size: 5,000 Sq Ft
Building Size: 1,220 Sq Ft

This property is pee sold under.Power of.Sale contained
ip . Mottgage to FINANCE CORPORATION. OF BAHAMAS

All offers should be forwarded in writting in a sealed
enevelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked “Tender 1938”. All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.





SEE At BN OGL ET

Narre ore ew

SEW AEs.

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PAGE 18B, THURSDAY, JANUARY 31, 2008 |
COMICS PAGE



JUDGE PARKER

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YOU CAN SAVE THE
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FOR YOUR COWGIRL

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DIAMOND ON YOUR LEFT
HAND, MAGGIE?

BECAME EXTINCT.”

YOU LOOK LIKE YOU'VE HAD A
‘ never DAY, HONEY
POF R

North dealer.

Opening lead — two of clubs.

As soon as dummy is tabled, it is
the duty of the defenders to formu-
late a plan to defeat the contract. In
striving to attain that goal, the
defenders should utilize any clues
they might glean from the bidding or
play and then, at the appropmiate
moment, put their thoughts into
action.

Consider this deal where North-
South reached four spades on the
bidding shown, and West led: the
deuce of clubs. Declarer won with

THEN GS GNIE re We
ANAM. MANKET FACES!

OG VUE WE, UX. 12-27
al orev. 61 urwvegsen eRass 100.

















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| CAN YoU ANSWee
| AN ARITHMETIC
QUESTION FOR ME,
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word, each letter may be used once
only. Each must contain the centre
letter and there must be at least
one nine-letter word. No plurals.
TODAY'S TARGET

Good 21; very good 32; excellent 42
{or more). Solution tomorrow. ,

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| “PROBLY BECAUSE THEY
SURE, WHY DINOSAURS. WERE AMILLION YEARS OLD"

The One and Only Chance

Both sides vulnerable.
NORTH
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WE DID IT!
WERE OFF!



the ace, cashed the A-K of diamonds,
discarding a club, and then led the
seven of spades.

- Had East been napping through
the first three tricks, he could easily
have missed his only chance to
defeat the contract. If he had fol-
lewed low to the spade lead, declarer
would have won, led a second trump
to East’s ace and subsequently lost
two hearts to make his game.

But East had been wide awake
during the early play and was more
than ready when the first spade was
led. He realized that South could not
have started with more than two
clubs, since he had not attempted to
discard another club on the queen of
diamonds.

Furthermore, since declarer had
no more chubs or diamonds and was
known to hold a stro: ie Bee suit,
East corfectly conch that the
only chance the defense was to
score two beart tricks and a heart ruff
in addition to the spade ace. And the
only way this could be achieved was
if West ‘had the doubleton king of
hearts.

Accordingly, East rose with the
ace of spades at trick four and led a
low heart to West’s king. West then
retumed a heart to East's ace, and a
third heart was ruffed by West to set
the contract.

TARGET



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THE TRIBUNE





BOY, THAT WAS A CLOSE CALL |
BUT IT WILL BE WORTH IT
WHEN WE GET THESE PICTURES
DENELOPED.





THURSDAY,
JAN 31

AQUARIUS — Jan 2U/Feb 18.

oA

Now’s the time to make a change if
you’re bored with your current situ-
ation at work or in your personal
life. You’ll have plenty of energy to

go around this week.

PISCES — Feb 19/March 20
Try not to mix business with plea-
sure this week, Pisces, as you may
regret it. Things can get confusing
when it comes to affairs of the heart, ,
Keep your emotions under control.

ARIES — March 21/April 20

You must fight for what you want
this week, Aries. Take nothing for
granted, especially from those who
you suspect may be jealous of your
recent success.

TAURUS - April 21/May 21
Your workload is likely to increase
this week, and you'll have to work
pretty hard just to keep up. Be sure
to reward yourself with plenty of
rest and relaxation.

GEMINI - May 22/June 21
Put your heart and your soul into
everything you do this week,
,Gemini. Expect positive develop-
ments in a working retationship,
friendship or romance.
‘CANCER — June 22/July 22°
Now is the time to act if your mae
is to persuade loved ones to see
things your way. Those near and
dear may become more difficult,
‘but not impossible, to dea! with
later in the week. 3
LEO - July 23/August

Think positive: Leo. No matter what
you do for certain people this week,
it won’t be enough, so stop worry-
ing about it and just do what makes
you feel good.

VIRGO — Aug 24/Sept 22

If you focus on money matters this
_week, it won't be long before all of
your numbers are lined up.

“However, if you do to much at once,
you'll only end up in trouble again.

LIBRA — Sept 23/Oct 23

You won't want for self-confidence
‘this week, Libra. But remember that
yours is the sign of partnerships, and
you'll get more done if you leam to
cooperate with others.

' SCORPIO — Oct 24/Nov 22
You may regret it if you give too
‘much away this week, Scorpio.
Your generosity is legendary, and
wonderful, but it pays to be a little
selfish at times.

SAGITTARIUS — Nov 23Dec 21

You are a person who definitely






Re

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ACROSS
3 Room to take a bend at es Me shame about a letter be ' understands how to network. Your
speed (5) i PEs hein WO d smile this week is proof that you're
Pe brief (5) r : on top. Don’t try so hard to impress
8 — Anoriginal show? (5 ict
ginal show? (5) 2 Quite a small pond can be big other people. After all, you’re the
10 Have a bit of fun in port (5) enough for them (7) | down | _ star of the show.
A ; meal with Earl Grey? (3) 4 — Tohavea snack on the quiet can be | CAPRICORN -— Dec 22/Jan 20
othing new to wear (5) handy in the garden (4) A football There will rarely come a better time
13 Style of town hat or piece of 5 Cana sharp one take a slice out of a Pita eke to show the bosses what you've Bot.
furniture (7) fish tail? (6) moves the ball Don’t worry about messing up; just
15 Uniform in rags, maybe, but it may 6 — Accept with all-consuming : forward take the plunge and in no time every-
suit daddy (5) enthusiasm (3,2) _. GE one e will be anere yaur praises.
: Plan to keep mum quiet (3) 7 Many a sage could be an artist (5) -
9 Again assume a position of rest (6) 3 Half the leaves are green as grass (3)
21 He isn’t particular who he orders 12 Optimistic in arranging fuel for a me ‘a ESS By Leo are a B a rd eri
about (7) flight (7) Yes
22 Legal right to have a rest and close 14 Alittle girl’s granny (3} Merab Gagunashvili v Shelby
down (4) 16 They can spoil clean sheets (5) Getz,Philadelphia World Open (=== ae s
23 les tours a. -Wales for a bit of 17 As ever, it’s up to a tail-ender to have 2006. Sometimes you can win a ‘ | S Pea | tc = 4
guidance (4 fun! (5) , game by tactics, sometimes by 7
24 Call promissory notes fishy! (7) “19 Punishment uselessly fast (7) exchanging pieces into a a FEY
j. 26 Claret blending combine (6) 20 Cuoose a delectable ingredient (5) favourable ending. it’s a great ° & gt fe
- 29 Evenan expert can get a 21 Willhe sin in guilty extremes? (5) advantage when the position — 5 oa el psp |
ss bad break (3) 23 There’s little room for a clever cue ACROSS DOWN naeees Yee ee comune oe + aS & ey FY
Hh 31 Make a fitting experiment (3,2) about some bicycles (7) 3 Faith (5) 1 Gauge (5) methods, as In today's puzzle. : ,
i Ve 3% Good girl returning ina 24 She's stupid, getting aut of line (6) 10 Noble a 5 i sun a Sars hnreeve) Nes rock Hie ‘ ei RT |
new hat (7) 25 It's pulled into your own two arms (3) " igh 3) 6) 5 Perfumes (6) knight and pawn, only a small x
34 edge in normal conditions. B
ly | Nitwit with a pub in New York (5) 27 Guardian very much eyed as a mere wu 2 eet 6 Now (5 ons. But , Bale Te |
‘ 4 35 One pushed over a bridge to start myth (5) a | 2 : working (7) : eee {5 Q) the white player spotted that wh bd tet LS i
ie the ball rolling? (3) 28 Distilled extr ae ee aes oe ee ee ceatl et ot oe gea
aie act of nicotine, as 18 Receptacle 3) 12 Renovation (7} ee. ,
}, 36 Where, naturally, a vessel can b 19 Fashions (6 his back rank weak, so Getz considered the defence 2
} ual , y, a vessel can be medicine (5) =) 2 Feels remorse (7) 14 Tear (3} continued actively with 1Qb4! Rael Qd8 guarding the back row
i «found (5) - 30 Encourage Charlie to get here a. 22 Follow (4) evel forcing the retreat Nb6, afte
H 37 For achap to have ahalf of bitter can somehow (5) > 23 Formal party {} is Reel) 2 which 2 Rael kept up the i a ; i mats : aie
winnin ce
make a change (5) 32 Indigo; in the East, a sort of dye (4) ” i peatiae d 20 Drinking tube {5) pressure. White now had the Black's a oh PS aan lk soon
‘ 38 z a string quartet, the one with the 33 Doesit take singular fortitude ta do Pri 29 Firearm (3) uy ae 7) ’ threat 3 Re8 Rxe8 4 Rxe8 mate, —_ fall to a rook. So by elimination
? iggest belly (5) this to a fish? (3) a Diaee Gh, 4 Treat ts and if Black creates anescape —Black settled fora 1 Qb4 Nb6 2
| 34 Viper (3 { 25 Slime (3) / for his king by 2...g6 then 3 Re8 — Rae1 h6. What happened next?
. 35 Free f a ene on (5) Rxe8 4 RxeS +-- Kg7 5 Q8 mate. LEONARD BARDEN
/ 36 Oar epasts
a 37 fang mammal (5) 30 Horseman (5)
ros ' 38 Feeling (5) 32 Wagers (4)
typtic solutions asy solutions 33 Vigour (3) 7





4 ACROSS: « :. Ania: tion 10, Author-is-E 12, Shed 13, Cheers
14, Ma-m-math 15, Gone ahead 17, The-or-iser 18, Sta-R-ves
19, Pie- | 20, Ot(her}- to 23, Franc-his- e 25, Deter-gent
| 26, Line 2 Imp-act 29, Sweater 32, Ine-last- ‘+34, edit-
ated 35, G- ‘litter 36, Rounds (off) 37, Zero (in) 38, Fas-cina-
famines

N: 1, Pass-ages 2, Time and again 3, Highness 4, In-
deed 5, Cas- -set-te 6, Stamped out} Rainer 5 8, Ne-
thermos-t 1, rons 16, A-d-vice 19, Poe(try) 21, Twent
twenty 22, Arrest 23, Fallin 9 olf 24, Immaterial 25, Dot 28,
Accorded 29, Side d-ish 30k -edw-oods 31, C- -apt-ain 33,
Ex-it-s 34, Moulds

ACROSS:Y, Landslide 10, Partridge 12, A
14, Cleaver 15, Allends u 17, Irritates ieee
19, Tremor 20, Eden 23, arpentry 25, Hesitates 26,
Nuns 27, Census 29, Neither 32, Interpret 34
Murderous 35, Estonia 36, Hamper 37, Oral 38, Ring a bell
Si Bsn
easant 2, In the long run 3, Pianists 4, Reva
5, Appetite 6, Precarious 7, Arrests 8, Represents 1, co \
Duvet 16, Needed 19, To 1, Dutch courage 22,
Strive 23, Centimetre 2 Tie- breaker 25, Has 28, Satchels ‘
4 Norseman 30, Resolves 31, Grandad 3, Titan
imics.





Chess solution 8204: 3 Qxf8+! Kxf8 4 Re8 mate.
quiz: Kitkat, Topic, Crunchie, Caramel, Flake,

Mars and Snickers.

One possible word ladder solution is: LANE, land,

lard, lord, load, goad, ROAD





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[HE |IRUBUNE : IHUHRSVAY, JANUAHY 31, 2008, PAGE|



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PAGE 20B, THURSDAY, JANUARY 31, 2008

| PRICEWATERHOUSE(OOPERS 8 }

The Partners of PricewaterhouseCoopers
Congratulate Associates on Successful Completion of
the Uniform Certified Public Accountants’ Examination



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Right: Being congratulated by Dawn A. Jones,

Human Resources Partner, are Associates:- Karin I

L
Resident Partner - Freeport Office are Associates:- £. Glinton, Renaldo C. Harding, Nekeino A. Brice |

eft: Being congratulated by Kevin D. Sey nour,

and Reginald K. Hanna.

| Crystal C. Carroll and Learline M. Burrows.

| CRYSTAL C. CARROLL - successfully completed the final parts of the American Institute of Certified Pubic
Accountants’ Uniform CPA Examinations, during the July - August 2007 testing window.

1a]

Crystal completed her secondary education at St. Georges High School, Freeport, Grand Bahama, The jf
Bahamas where she received a partial scholarship from the patrons of St. Georges‘ High School (Mr. & Mrs. |
| Edward St. George - Grand Bahama Port Authority). After graduating from high school, she decided to
pursue a college degree in Accountancy at The College of The Bahamas, Northern Campus, where she }
completed her Bachelor of Business Administration (Accounting) degree in April 2005, During 2001. Crystal |
| gained employment at PricewaterhouseCoopers as an Accounting Assistant. Ms. Carroll currently holds jf
| the position of Associate in the Firm‘s Assurance and Business Advisory Services (ABAS) group.
i
i Crystal would first and foremost like to give thanks to God for His faithfulness. She would also like to thank 4
| her parents, Mr. Sammy and Mrs. Lisa Carroll for their continuous love and support, her siblings: Tanai, #f
i Tammy, Jess, and Nicholas, and friends, especially Shanell Bain, Gloria Cartwright and Julian Sands for their jf
| encouragement and prayers. Special thanks are also extended to all of the members and partners of the j
Firm for their motivation and support,

LEARLINE M. BURROWS - successfully completed the final parts of the American Institute of Certified Pubic |
Accountants’ Uniform CPA Examinations, during the July-August 2007 testing window.

| After completing her secondary education at St. Georges High School in June 2002, Ms. Burrows went on

| to obtain a Bachelor of Business Administration Degree (BBA) with a concentration in Accounting from The |
College of The Bahamas Northern Campus, where she graduated in June 2006. In May 2006, Learline |
began her professional career with the Firm and currently holds the position of Associate in the Assurance |

| & Business Advisory Services (ABAS) group.

|
1 |
; 4

i

For her accomplishment, Ms. Burrows would first like to give thanks to God, with whom all things are possl- |
i ble. She would also like to thank her parents Leon (deceased) and Annarene Burrows for their love and
| support; her siblings, Angelo & Angelique Hield, Lasard Burrows; friends and well wishers alike especially Mr. |
| Dedric Adderley and the entire Adderley family, Mr. Todd Beneby, Mrs. Deborah Kikivarakis, Mrs. Jean |
Bowes and.the entire PwC family for their continuous motivation and suppor.

|
| KARIN E. GLINTON - was successful in passing the four parts of the Uniform Certified Public Accountants \

# Examination within the July-August 2007 testing window. |
4 | i

After completing her secondary education at si. Augustine’s College In 2003, Ms. Glinton went on to obtain

a Bachelor of Science Degree in Accounting with a minor in Economics from Messiah College in
| Grantham, Pennsylvania, graduating in May 2007. She then began her professional career with the Firm in |
| August 2007 and ‘currently holds the position of Associate in the Assurance & Business Advisory Services |
| (ABAS) group. i

First of all, Ms. Glinton gives thanks and praise to the Lord, God Almighty, who has constantly been her |
strength and inspiration. Special thanks also to her loving parents Kevin M. and Edna Glinton, her two ff
brothers Kevin E. and Kristofor Glinton, her great-grandmother, grandmothers and all other family members, |
friends, professors and colleagues for their many prayers and support throughout this experlence. Finally, |
she would like to thank the partners and staff of the Firm, for their assistance and constant encouragement. |
RENALDO C. HARDING - was successful in passing the final part of the American Institute of Certifled Public,
Accountants’ Uniform Certified Public Accountant Examinations (CPA) during the July - August 2007 testing
window,

q
q

After completing his secondary education co’ |}. Augustine's College, Nassau, Bahamas in June 2001, Mr.
Harding pursued and obtained a Bacheior 0: science degree in Business Administration (BBA) with a con-
centration in Accounting from The Collegoo of The Bahamas, where he graduated with honours in if
December 2005. In September 2006, Mr. Haiding joined the Firm full-time after transferring from another #
professional services firm, where he had previously been employed for three years. He currently holds the #f
position of Associate in the Assurance & Business Advisory Services (ABAS) group in the Nassau office. i

A special vote of thanks Is extended firstly to his grandmother, Mary Kathleen Harding whom he brands as

the "wind beneath his wings" for her support and for serving as a positive, influential role model in his life. A if
special vote of thanks is also extended to his father Glenn Carlton Harding and his aunts Linda Maria if
Chestnut, Juanita Elizabeth Edwards and Ann Patrice Harding for their continued, encouragement and if
devotion. Finally, he would like to thank the Partners and Staff of PricewaterhouseCoopers, Bahamas for
their assistance and constant encouragement. i

NEKEINO A. BRICE ~ was successful in passir «) his final part of the American Institute of Certified Public

Accountants’ Uniform CPA Examinations, during the July = August 2007 testing window,

After completing his secondary education at Charles W. Saunders Baptist High School, where he graduat-

ed as class Valedictorian, Mr. Brice went on to obtain a Bachelor of Business Administration Degree (BBA) |

with a concentration in Accounting from the College of The Bahamas, in December 2004, In August 2005, ff
he began his professional career with the Firm and currently holds the position of Associate in the |
Assurance & Business Advisory Services (ABAS) group. i

For his accomplishment, Mr. Brice would first lie to give thanks to God, for His love and grace within his life.
He would also like to extend a special thank you to his parents, Alfred Brice and Nathalie Mckenze; sisters,
Nekia, Nekeisha, and Nekeirah; Matrika Ward for her spiritual guidance and prayers; Lecturers of the School
of Business at the College of The Bahamas: Ms, Karen Lockhart, Mrs. Remelda Moxey, Mr Rupert Pinder, Ms.
Carol Scriven, and Mr. Christopher Stuart and ail other close family and friends for their unending support,
love, and prayers. Finally, he would like to thank the partners and staff of the Firm, for their assistance and
constant encouragement.



i

REGINALD K. HANNA - successfully completed the Uniform CPA exam during the July - August 2007 testing
window.

a

soneeaqesenenoneranne

Reginald completed an Associate of Arts degree In Accounting from The College of The Bahamas and a jf
Bachelor of Science degree in Accounting from South Carolina State University, Orangeburg, South |
Carolina in 2002. Thereafter, he obtained a Master of Business Administration degree from Georgia |}
Southern University, Statesboro, Georgia in 2095, Reginald began his career at PricewaterhouseCoopers |
in August 2005 and currenily Holds the positior _f Associate in the Assurance and Business Advisory Services ff
(ABAS) Group. |



He would like to thank his wife, Renée, for her love, motivation, and support. He would also like to thank his
family, in-laws, friends, and the partners and staff of PwC for their encouragement.



With offices in Nassau and Freeport, PricewaierhouseCoopers Bahamas is a member firm of
PricewaterhouseCoopers, which is the world’s largest professional services organization. Drawing on the
knowledge and skills of more than 125,000 people in 142 countries, we build relationships by providing |
services based on quality and integrity "PricewaterhouseCoopers" refers to the network of member firms of

PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity. |
: i



Toscana tastes ccs aot ieee a





THE TRIBUNE

Royal
Caribbean:
04 profits

swell 52
per cent

@ By ADRIAN SAINZ
AP Business Writer

MIAMI (AP) — Royal
Caribbean Cruises reported
yesterday that fourth-quarter
profits swelled 52 per cent. as
strong bookings produced bet-
ter-than-expected revenue
despite high fuel costs and eco-
nomic pressures.

The world’s No. 2 cruise
operator also offered guidance
for 2008, while its chairman
characterized the cruise industry
as “recession resistant” because
it offers value for travelers with
its fixed-price vacations.

Royal Caribbean said fourth
quarter earnings increased to
$70.8 million, or 33 cents per
share, from $46.6 nicision, or 22
cents per share, in the fourth
quarter of 2006.

Analysts polled by Thomson
Financial expected net income
of 34 cents per share.

The Miami-based company
said higher fuel costs hurt prof-
it by 21 cents per share in 2007,
but improved pricing and strong
close-in bookings — or those
within 90 days of sailing —
helped offset those costs in the
fourth quarter. Shares were up
18 cents to $38.87 in late-morn-
ing trading.

Chairman and Chief Execu-
tive Richard Fain said the cruise
industry is somewhat cushioned
by softness in the economy
because consumers “focus on
getting more vacation for their
money.”

“We believe that our busi-
ness, while it’s not recession-

_ proof, is recession-resistant,”

Fain said in a conference call.
“Cruising continues to be the
best value in the vacation indus-
try, and the fixed-price nature of
the purchase becomes even
more appealing during tough
times.”

Fain said bookings were
encouraging for the January-to-
March “wave period” — the
busiest reservation period of the
year, when many people plan
summer vacations.

Quarterly revenue rose 30

er cent to $1.49 billion from
$1.15 billion a year earlier as
passenger ticket revenue
climbed to $1.07 billion from
$831.7 million. Onboard and
other revenue improved to
$424.3 million from $321.5 mil-
lion.

Analysts expected sales of

Strong cruise
bookings produce
better-than-expected
revenue despite
high fuel costs

$1.4 billion.

The company said fuel prices
increased 41 per cent compared
to the fourth quarter of 2006.
Its average fuel price for the
quarter was $555 per metric ton,
compared to $395 per metric
ton for the same period in 2006.

Net yields grew 3.2‘per cent,
excluding its Pullmantur cruise
line, based in Spain. Including
Pullmantur, net yields rose 11
per cent. Yields are the rate of
return after subtracting expens-
es, such as taxes, and are a key
profitability gauge for cruise
lines.

Net income for all of 2007
was $603.4 million, or $2.82 per
share, compared to net income |
of $633.9 million, or $2.94 per
share, for 2006. Revenues for
2007 increased to $6.1 billion
from revenues of $5.2 billion
for 2006.

Royal Caribbean expects
2008 earnings between $3.20
and $3.40 per share on cost con-
trol efforts and increased rev-
enue. It anticipates first-quar-
ter profits of 30 cents per share
to 35 cents per share.

Analysts predict 2008 net
income of $3.21 per share and °
first-quarter earnings of six
cents per share.

Robert LaFleur, an analyst
for Susquehanna Financial
Group, echoed Fain’s com-
ments that vacationers likely
will be looking for deals when
booking trips.

“Historically, this is a good
thing for cruise lines, as they
remain a very compelling vaca-
tion value relative to other land-
based alternatives,” he wrote in
a report. ;

The company said it expects a
5.1 per cent increase in capacity
in 2008, partly driven by a full
year of service for Liberty of
the Seas and the April delivery
of Independence of the Seas.

Royal Caribbean Cruises Ltd.
operates five cruise lines and
has a combined total of 35 ships
in service.

ak SAAC

Opportunity inside the classroom.
Opportunity outside the classtoom.
Opportunity in life.

Please join us for an admissions presentation:
Monday, February 4, 2008 at 6:00pm
British Colonial Hilton

R.S.V.P. Rosamund Roberts at (242) 394-1665

ah
WS



ey TRINITY

2” COLLEGE SCHOOL

A four-year high school for students aged 13-18
located in Port Hope, Ontario, Canada

905-885-3209

admissions@tes.on.ca

Www. ts.0n.ca