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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Claim that Jerome
Fitzgerald is another
possible candidate

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

JEROME Fitzgerald is the
latest name to be put forward
as a possible candidate for the
position of National Chairman
of the PLP, sources at the par-
ty’s convention claimed last
night.

Currently th there are three offi-
cial candidates who have pub-
licly announced that they will
be vyitig for National Chairman
— Englerston MP Glenys Han-

Future leadership
hopefuls ‘must
secure the —
heart of the party’

Se



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

THOSE who seek the
PLP’s leadership some time
in the future must ensure that

they go about it the right way,.

securing the “heart” of the
party, lest they may not be
able to win a government in
the future, said former first
lady Bernadette Christie.
Mrs Christie spoke to The
Tribune yesterday about some

na-Martin, PLP newcomer
Omar Archer and Mr Elcott
Coleby.

In addition to the three can-
didates, PLP MP for MICAL
Alfred Gray has announced that
he has not ruled out the possi-
bility of entering the race for
the chairmanship of the PLP.

Another report which claimed

that the former PLP MP for ‘the

Bain and Grants Town con-
stituency Bradley Roberts
would be running for the post.

SEE page seven

Bernadette Christie



of her concerns for the coun-
try, and misconceptions about
her husband Perry Christie, at
the Wyndham Nassau Resort,
as party members finished off
last minute preparations for

SEE page seven

The Nassau office of
Insurance Management
will close
4pm Friday, February 22nd, 2008

o honor our Retiree

Mrs. Cynthia Sturrup
a 28 year employee of
Insurance Management

Regular business hours will resume on February 25th.

INSURANCE MANAGEMENT |

| (BAHAMAS) LIMITED, INSURANCE BROKERS & AGENTS







le



r

Felipé Major/Tribune staff

LAST MINUTE preparations were being made yesterday for the PLP’s 2008 Convention at the Wyndham
Nassau Resort in Cable Beach. The convention will be the party’s 50th.

Castro resignation sparks

mixed response in Bahamas



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

A MIXTURE of desponden-
cy and joy blanketed the Cuban
community in The Bahamas on
Tuesday as news broke of Fidel
Castro’s resignation from his
49-year reign.

The long-time president
announced Tuesday that he was
retiring after a rule of nearly
half 4 century over the Com-
munist country, during which
time he became an icon of the

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

Influx of Cuban immigrants
‘will probably continue’

revolution to his supporters and
a relentless dictator to his
detractors.

“T think it is sad news, most of

_ the Cubans would like to have

him to continue leading the rev-
olution as he had been doing
the last (49) years.

“He was the one to deliver a
number of triumphs (for) the
revolution over the last 49 years
and to be able to maintain hold
(of the revolution) despite all
the odds, despite the (opposi-
tion) from the United States,
despite all the problems that we



SEE page seven

THE BAHAMAS and its neighbours will probably continue to
see an influx of Cuban immigrants seeking exile despite an
announcement Tuesday that communist leader Fidel Castro has
retired, a Cuban immigrant told The Tribune yesterday.

The former president’s younger brother, Raul, who was appoint-










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Inspired by the SUR.

. had to face. ;
“At the same time we are :
glad that he will be able to con- }
tinue contributing with his :
ideas,-and, of course, a man of |
his stature will never withdraw
from the public and always will :
be an example to follow for the :
**Cuban Ambassador
Jose Luis Ponce said during an :
interview with The Tribune yes- }
: her early 70’s.




Fidel Castro (AP)

Cubans,

terday.

During his reign, President :
Castro, 81, survived nine US :
presidents, numerous assassi- }
nation attempts, and 10 US :
administration attempts to top- }

le his regime, according to :
Pp 8 = § ? soon.

international reports.

He fell ill in July, 2006 and Duane Sands, consultant of Car-

SEE page seven

SALE

ON SELECTED HANPBAGS GARMENTS
fe eR CRU tee hate a ee retry



‘Ninety’ retrial
postponed after
accused needs

_ medical attention

DRUG accused Samuel “90”

: Knowles’ retrial had to be post-
: poned yesterday after the
: accused had to receive medical
: attention because of an irregu-
i lar heartbeat.

The court is now expected to

i hear evidence in the matter
: beginning Monday.

Knowles was extradited from

: the Bahamas in 2006 to, stand
: trial in the US, and has long suf-
: fered from diabetes which is a
: growing and chronic disease
: that can lead to a number of ©
: other illnesses, including heart
: disease.

Inquiries about
status of Alfred
Gray legal action

AS THE PLP go into con-

? vention today, The Tribune has
: received calls inquiring about
: the status of legal action that
: MICAL MP Alfred Gray said
: he had commenced against two
; local newspapers in connection

with articles published in
December 2007.

At a press conference held
on January 4, 2008 relating to
those articles, Mr Gray and his
lawyer, Fred Mitchell, read pre-
pared statements.

Said Mr Gray: “Today I have
taken the necessary legal steps
in the Supreme court, which I

: fully expect will clear my name,

SEE page seven

Dame Marguerite
Pindling admitted
to hospital for
‘surgical procedure’

i By XAN-XI BETHEL

DAME Marguerite Pindling,
widow of former prime minister
Sir Lynden Pindling, was admit-
ted to the Princess Margaret Hos-
pital yesterday morning for a
“surgical procedure.” She is in

According to a statement from
the Princess Margaret Hospital
she was in good spirits at the time
of her,admission, and looks for-
ward to having the procedure
done so that she can return home

Her medical team includes Dr.

SEE page seven



Nila UE LR Ce Ce OUT OMELET mmeael rst

Telephone 242-304-4744
bobbed heh LhAb baie! SLL Peruri)





PAGE 2, WEDNESDAY, FEBRUARY 20, 2008

THE TRIBUNE



LOCAL NEWS





The battle for PLP deputy
chairmanship intensifies

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

A HEATED race may be
shaping up at the PLP’s Con-
vention for the party’s deputy
chairmanship, as it is uncertain
if the man currently in the post,
Irrington “Minky” Isaacs, will
seek re-election.

Mr Isaacs is one of the party’s
most familiar faces behind-the-
scenes, and is a major organizer
in the party’s large scale events
such as national conventions.
Mr Isaacs has held the post as
deputy chairman for the last
decade, since the post was cre-
ated by the party.

When asked yesterday by
The Tribune if he is renominat-
ing for deputy chairman, Mr
Isaacs acknowledged that many
rumours are circulating at the
convention, but he did not con-
firm or deny what his future
might be.

“We'll see what happens,” is
the only response he offered
yesterday.

Former PLP Vice-Chairman
Ron Rolle and current Vice-
Chairman Ken Dorsett will be
running for the deputy chair-
manship regardless of Mr Isaac-
s’s decision.

Both men said yesterday that
the revitalization of branches
would be a priority if they are
elected to the post, when asked
what changes they would like
to make.

Mr Rolle also noted the
deputy chairman must be able
to work closely with the chair-
man.

“And in doing so,” he said,
“you have to learn how to
pinch-hit when the chairman is
unable to deal with some things,

Doubt over whether ‘Minky’ Isaacs will seek re-election

GETTING READY: Workers adorn chairs on the national convention floor with the party’s blue and rat colours.

you have to be able to act on
it.”

At times, it may also be nec-
essary, explained Mr Rolle, for
an effective deputy chair to
bring certain matters to the
attention of the chairman, or
the National General Council,
regarding the direction of the

party or any of its branches.

Mr Rolle told The Tribune
yesterday that he will be ready
to jump into the role “right
away.”

Mr Dorsett said he intends if
elected to bring more young
people to the forefront of the
party, and to ensure that some

of the successful programmes
initiated by the PLP over the
last five years are continued.

“Tn addition to that, I think I
would wish to continue to see
the modernisation of the Pro-
gressive Liberal Party.

“Not only embracing new
technology, but also ensuring



that the way we go about doing
business, is not as usual,” he
said.

Mr Dorsett also emphasized
that now that the PLP is in
opposition, the party has the
opportunity to focus on its
machinery in order to be ready
when the next election is called.



B By DENISE MAYCOCK
‘ Tribune Freeport Reporter
dmaycock@tribunemedia.net



FREEPORT - The ongoing
dispute at the Grand Bahama
Port Authority is not sitting well
with residents here and contin-
ues to cause growing concern
and uncertainty in Freeport.

It is strongly felt by many that
the legal feud between the prin-
cipal shareholders at the Port
is impeding the further eco-
nomic development of
Freeport.

It is also felt that proper

attention is not being paid to
Freeport.

“No one is at the helm (of the
Port Authority) to assert the
position for future development
— we are still being held
hostage with zero economic
growth and with no forecast in
sight by the Port Authority,” a
concerned resident said at a
town meeting on Monday
evening.

Many residents turned out at
the Foster Pestaina Hall for
Love 97’s live radio symposium
on the economy of Grand
Bahama. Minister of State for

Growing concern Over port

Finance Zhivargo Laing and
lawyer Gregory Moss, president
of the Grand Bahama Cham-
ber of Commerce, were among
the panelists.

Minister Laing assured resi-
dents that government is keen-
ly aware of the economic state
of Grand Bahama, as well as
the frustration, pain and suffer-
ing they are experiencing
because of it.

He said that it is reasonable
that residents would express
concern about the current situ-
ation at the Port Authority.

“The GBPA is such a pivotal

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player in the» economic
prospects of Freeport and the
larger Grand Bahama commu-
nity. So, clearly the dispute
between the principals and the
stagnation of Port Authority
activities would be on the minds
of people here,” he said.

“I think the Prime Minister
has said on a number of occa-
sions that the public interest of
this country will not be served
by a continuing fight between
the principals, and that the gov-
ernment expects this matter
would be resolved soon.”

It has been over a year now
since the Hayward family trust
and the St George estate have
been embroiled in an owner-
ship dispute at the Grand
Bahama Port Authority. The
company is in receivership while
the legal action continues in the
Court.

Although Sir Jack Hayward
has indicated an interest in sell-
ing his 50 per cent stake to the
Fleming Group, the St George
estate has obtained an injunc-
tion preventing him from selling
to a third party. The St Georges
are arguing that they should
have first option on the Hay-
ward shares.

A concerned businessman
claims that residents are strug-
gling to pay Port taxes in a
struggling economy, while the
feuding principals continue to
fight and earn profits.

“We have not heard any-
thing; we are virtually hand-
cuffed because of the legal
wrangling at the Port. We are
like a ship without a sail,” he
said.

Gregory Moss, Chamber
president, said the present dis-
pute at the Port does not inject
confidence and needs to be
resolved in the best interest of
Freeport.

“The present state cannot
properly constitute a Board of
Directors; it cannot properly
manage the functions of the
company and give the kind of
confidence that is important (to
Freeport).

“The idea that people do not
know for certain what is going
to be the make up of the Port;
what is going to be the results of
the make up and what policies
are going to follow, of course, it
is something of an issue,” he
said.

Minister Laing stressed that

authority dispute





“We have not
heard anything;
we are virtually
handcuffed
because of the
legal wrangling
at the Port. We
are like a ship
without a sail.”



the situation is not going to be
allowed to continue unresolved
at the Port Authority.

He admits that the Port
Authority has had conflicting
issues in Grand Bahama
because of its responsibility as a
regulator of business, and as a
competitor with businesses.

“I want to be careful to not
turn this into a single entity
bashing event because every-
where you will find in almost
every organization around the
world — people having issues
with entities.

“And those who say it has to
change, | have no doubt that 10
or [5 years the current state of
things, insofar as the Port inter-
twined of municipal authority,
will not be the prevailing situa-
tion in Grand Bahama.

“TL have no doubt about that
— but no one ought to pretend
that this can change overnight,”
said Mr Laing.

Minister Laing is optimistic
that the Grand Bahama econo-
my will start to improve “mar-
ginally” over the next 12
months. Mr Laing felt that the
meeting was productive to the
extent that residents were able
to'express themselves and their
concerns and were able to offer
some ideas about what they
thought should happen.

He said the insight provided
on the dynamics and prospects
of Grand Bahama by the panel
of speakers were also helpful.
The other members of the pan-
el were Gwen Newbold, opera-
tor of Grand Bahama Snack
Food Wholesale; Accountant
Kevin Seymour; and Keith
Worrell, general manager of
Grand Bahama Millwork.



(Man jailed for

BIC break-in
at Ahaco

@ By DENISE MAYCOCK
Tribune Freeport.
Reporter
dmaycock@tribunemedia.net

FREEPORT - A 42-year-old
male resident of Abaco was sen-
tenced to 18 months at Fox Hill
Prison after pleading guilty to
breaking into the Bahamas
Telecommunication Company on
that island.

Don Canter, of Wood Cay,
appeared on Monday before
Magistrate Crawford McGee on
charges of breaking and entering
with intent to steal.

According to police reports, he
was captured on surveillance tape
breaking into the BTC office at
Fox Town sometime between
5pm on February 15 and 9.30am
on February 16.

The office was ransacked.

When police arrived at the
scene, the burglar bars had been
pried open and the front door
glass had been smashed. While
searching the premises, officers
watched a surveillance camera
tape and saw the break in as it
occurred.

Police are crediting the capture
and speedy resolution of the mat-
ter to the surveillance camera.

Tourist, 45,
dies in rental
hike accident

A 45-year-old tourist from
Maryland died Monday after hit-

ting a wall while travelling, with -

his wife, on a rental scooter.

Shortly before 4 pm on Sun-
day a husband and wife from
Maryland were travelling on West
Street near Meeting Street on a
2007 S.G-150 rental motorcycle.

They ran into a concrete wall
and were both taken to hospital in
a conscious state.

The husband complained of
internal pain and was detained.
He died sometime before 3 pm
on Monday.

He was identified as Keith
Jones, 45.

Stabbing victim

‘discharged

from hospital

Fifteen-year-old Dentrel Far-
rington, a student at the Sir Jack
Hayward High School, was dis-
charged from hospital and is now
at home recovering from stab
wounds suffered during an alter-
cation on Saturday.

Farrington, who was stabbed
about the body, told police that
he was attending a school dance
held by St George High School at
the Bowling Alley when he was
stabbed by a group of young men
in the parking lot.

He told police that he was leav-
ing the dance with two friends
when they were confronted by
the group of men. He said he
knew one of culprits who is a stu-
dent at Tabernacle Academy.

Farrington was taken to Rand
Memorial Hospital around 2am
on Saturday.

He was admitted and treated
for three stab wounds to the
body.

Supt Rahming said the matter
is presently under police investi-

gation.

Whale dies after
heing found beached

An injured 20-ton whale died
Tuesday morning after it was dis-
covered beached near the shore-
line on Abaco,

According to Chief Supt Basil
Rahming, a resident spotted a 26-
ft long whale around 7.30am on
Monday in shallow waters at Old
Carr Beach on Abaco, about half
a mile south of Bahama Palm
Shores.

The whale, which was been
identified as a “brytus” type, had
suffered injuries to both eyes, but
was still alive.

Ms Dianne Claridge c/o Abaco
Whale Watchers Society, was
alerted,

She and others went to the
location where they gave medical
assistance to the wounded mam-
mal.

However, in spite of their
efforts the whale died early on
Tuesday morning.

The cause of death and injuries
were not reported.

Supt Rahming said local resi-
dents are pow in the process of
burying the large mammal at a
site near the beach.

a



THE TRIBUNE



WEDNESDAY, FEBRUARY 20, 2008, PAGE 3





THE TRIBUNE asked PLP

chairman hopefuls Omar
Archer and Elcott Coleby 10
questions about their party and
what they hoped to accomplish
if elected to the post.
_ The other candidate for the
position, Englerston MP Glenys
Hanna-Martin, proved to be
elusive when the opportunity
was extended to her.

While these three persons
have officially declared their
interest, preliminary discussions
on the floor of the convention
yesterday indicated that the
field may widen on nomination
day as other persons may be
nominated for the chairman-
ship.



Q: What is the role of a party
chairman?

Omar Archer: “The role of a
party chairman is to reorganise
the party and ensure that it is in
a position to be expanded. The

chairman

10 questions to PLI
hopefuls



party chairman must also keep

Elcott Coleby

Omar Archer



Monday, 25 February from 10am-5pm
at the Harbour Green Shops at Lyford Cay






trunk show
t

a
AISON DECOR





Sinited,





Tel: 362-6527





Tuesday, 26 February from 10am-5pm
at the Bayparl Building, Parliament Street



the party members and sup-

porters united and he/she serves
as the inside person who keeps
everything running smoothly.”

Elcott Coleby: “The party
chairman’s role is to be the chief
operations manager in the par-
ty. The chairman oversees the
day-to-day operations of the par-
ty and is the glue that holds the
entire system together. The chair-
man ensures that everyone is of
one accord and keeps the party
unified. The chairman is also
responsible for making sure that
all hands are always on deck.”

Q: What do you feel best
qualifies you for the position?

Omar Archer: “I have a burh-
ing desire to bring about posi-
tive change and I have the pas-
sion and drive which is essential
to successful leadership”

Elcott Coleby: “I think that I
am best qualified because I am
an operations expert. I am
schooled and trained in this
field. Also, I know how the par-
ty works and runs. I know the
ins and outs of the entire party,
having worked behind the
scenes for a number of years.
In addition, my roots are in the
PLP. My family has been an
integral part of the party since
its inception.

Omar Archer: “There are
too many guns on the streets
and crime is spiralling out of
control. In addition, prison
reform and rehabilitation are
extremely important because
they are tied to crime, guns, and
the urgent need for positive
change in the Bahamas.”

Elcott Coleby: “Crime is the
most pressing issue facing the
Bahamas. It is a social issue that
must be addressed at the social
level. Alternatives must be
offered to the youth.”

— Q: Are you happy with the
current state of the party?

Omar Archer: “No, because
we are not in government.”

Elcott Coleby: “There is
always room for improvement.
As a party we must continue to
grow and not become content
with the current state of things.
Times change, so we must
change to stay on top of things.”

Q: Are you. happy with the
party’s leadership?

Omar Archer: “I am confi-
dent that Perry Christie has the
skills needed to take this party
to the next level. He has a great

vision for the future and a drive

to get there.”

rent leader is capable of doing
an excellent job.”

Q: Why did your party lose
the last election?

Omar Archer: “We lost
because we lost focus on the
ultimate goal. We did not lose
because of dwindling support,
we lost because of internal
problems within the party. Our
vision was blurred and the focus
was not clear.”

Elcott Coleby: “We lost
because we did not take care of
our base. We were not as solid

as we could have been coming -

up to the general elections.
Many factors were in our favour
but when it came down to it,
we had internal problems that
caused us the election.”

Q: How will you prepare the
party for the next general elec-
tion?

Omar Archer: “I will prepare
the party by getting people
involved. Our campaigning
starts now. We must show the
people that we have our vision
back and as chairman I will
keep the party focused on the
ultimate goal that we wish to
achieve. I intend to show the
party and the Bahamian peo-
ple that I am serious about

Q: What is the most pressing
issue facing the Bahamas at this
time?

bringing positive change.”

Elcott Coleby: “Yes, the cur-

Dealing with election defeat
and charting way forward
‘main issues at convention’

m@ By PAUL G TURNQUEST
Tribune Staff Reporter
pturnquest@tribunemedia.net

COMING to grips with their defeat at the
polls on May 2, 2007, and charting the way
forward will be the main issues discussed at
the PLP’s 50th convention, which starts today.

According to Paulette Zonicle, who is coor-
dinating the convention with PLP MP for West
_ End and Bimini Obie Wilchcombe and Con-
taza Adderley, the party has to deal with these
issues if it hopes to regain the government in
2012.

“We are going to deal with the issue of our
defeat, and we are going to deal with the way
forward. We are not going to dwell on it. We
know that we’re in opposition and we have
accepted that. We are now moving on. We’re
making preparations to take back the govern-
ment in 2012.

“We realise that if we want to take it over we
can’t wait until 2011 or 2010 to do it. We have
to do it now. And so we are preparing our-
selves to (become) the government of the
Bahamas once again,” she said.

While there has been some speculation about
possible challenges to the posts of leader and
deputy leader, Mrs Zonicle said she highly
doubts that any such contests will emerge at
this convention.

f

“Oh no, no. The PLP is unlike any other
political party, and no matter what you hear
outside, we do not cannibalise each other. It’s
a sacred oath that we have taken, and while we
may differ, we are very protective of each oth-
er when it comes to things like that.

“And so we are very proud of Mr (Perry)
Christie, and Madam Deputy (Cynthia Pratt),
and we will continue to stand behind them as
we move into this convention,” she said.

As the PLP enjoys a very large delegate base,
Mrs Zonicle said that almost 3,000 stalwart
council members and delegates from around
the islands are expected to attend the conven-
tion over the next few days.

“Delegates started arriving as early as Sun-
day. The final group of delegates will be arriv-
ing either this evening or first thing in the
morning.

“We have nomination of party officers
tomorrow afternoon after the luncheon break,
and then we have voting of officers all day
Thursday from 9am until 2pm,” she said.

Today at 10am, outgoing party chairman
Raynard Rigby is expected to deliver his swan
song speech as chairman of the PLP.

Following this, a presentation showcasing 50
years of the PLP in convention will be made,
after which party leader Mr Christie will
address those attending on the review of the
general election and “the way forward.”

ys

Elcott Coleby: “I will bring
the party together and solidify
our base so that we will be
ready for the next election. I
will make every effort to rectify
issues that have held or are
holding us back so that we can
move forward in the faith and
confidence that we will not let
the Bahamian people down.”

Q: What does your party
offer that others do not?

Omar Archer: “The PLP
offers a clear vision, new focus
and new energy for the future —
traits that can only be found in
the PLP. We have a love for the
Bahamian people.”

Elcott Coleby: “The role of
government is to empower and
improve and we as a party are
capable of doing just that.”

Q: What do you hope most
for the future of the party?

Omar Archer: “I hope for
longevity and the continuity of
unity within the party.”

Elcott Coleby: “I hope that
the party will become more effi-
cient.”

Q: What is your main hope
for the future of the country?

Omar Archer: “I hope that
we will learn to live as one. We
are moving forward, upward,
and onward, but we are not
doing it together. That is where
our problem lies. With the PLP,
the Bahamian people won't be
doubtful, but hopeful.”

Elcott Coleby: “I hope that
the country will really be the
best little country in the world.”

Sachin Ahluwalia of Ankasa will be introducing

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the Spring 2008 collections





SAS






















PAGE 4, WEDNESDAY, FEBRUARY 20, 2008

THE TRIBUNE



EDITORIAL/LETTERS TO THE EDITOR



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, RO. 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

Debate on ‘numbers’ has begun

THE DEBATE is on!

Prime Minister Ingraham sent up a trial
balloon last week — either enforce a law that
is being broken daily or abolish it.

Opposition to its abolition is coming from
the expected quarters — the Baptist Church,
which is anti-gambling.

Speaking in the House last week on the
appointment of a select committee to exam-
ine the high level of crime, Mr Ingraham said
he wanted the committee to consider the
gaming laws — specifically the numbers busi-
ness.

“Are we going to have what is supposed to
be an illegal activity openly flaunted in the
society every day by thousands of Bahami-
ans?” he asked. And concluded: “We must
either enforce the law or change it.”

He said he had told the Commissioner of
Police that he is considering legalizing gam-
bling in the Bahamas for citizens and resi-
dents. .

Mr Ingraham said that Commissioner Regi-
nald Ferguson did not support his thinking on
this, “but the reality is,” said the prime min-
ister, “it is not an enforceable law.”

The police probably believe that an updat-
ed law on the statute books to include the
sophistication of today’s gamblers could be
enforced.

At present nothing can be enforced. The
archaic laws that now exist — laws designed
to catch the little man hustling numbers on
street corners with a scratch pad and stubby
pencil, the “numbers paraphernalia” — are
not the tools for the job.

Today we are into computers and cyber
space. Laws will have to be crafted to allow
the police to download these highly technical
creations to find their “paraphernalia” to
take to court as evidence.

There are those who believe that instead of
wasting time trying to abolish the law, time
could be better spent creating enforceable
laws.

The Bahamas Christian Council, a Baptist
stronghold, has made it clear that such sug-
gestions from the head of state cannot be
tolerated. Not only does the Council oppose
the legalisation of gambling, but it also oppos-
es the creation of a national lottery.

“We urge the prime minister and his gov-
ernment,” said the Council, “to reinforce the
law as it stands on the operation of numbers
houses as they are illegal.



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“Furthermore, legislation should be put in
place to control the number of web shops
that are opening.”

And a former PLP niinister in the Pin-
dling government wished the government
luck in its attempt to legalise gambling, but
felt that it was fighting a losing battle.

On a radio talk show former PLP Exuma
MP George Smith said that about 20 years
ago Sir Lynden Pindling tried to introduce
similar legislation, but had to back down
because of religious leaders.

Mr Smith said that a Bill was before Par-
liament when Paul Adderley was finance
minister to establish a board to legitimize
the numbers business.

The money, he said, had been earmarked
for education, sports and health services.
However, the heat put on by the church
forced Sir Lynden to withdraw the Bill.

The Nassau Guardian did an interesting
interview with several local numbers opera-
tors. The “King” of the pack laughed at the
idea of enforcing the law. He felt to crack
down now on numbers was not only hypo-
critical, but “a big joke.” Wasn’t the late Per-
cy Munnings, the king of them all, not only
the Treasurer of the PLP, but a generous
donor to its political coffers during the party’s
early years?.

He said that everyone in the numbers busi-
ness today is “paying for his window.”

He explained: “I mean once you pay your
people, nobody will bother you. Most of my
customers are police. All the big money mak-
ing from numbers is from police, big time
politicians and government workers. Every-
one else is only be giving us a quarter, 50
cents or a dollar.”

No wonder the numbers operators are
laughing, not only has their business grown,
but it has taken over. °

“It is embarrassing,” said a Bahamian,
“we have allowed it to become a sub-culture
and now it is going to be difficult to eliminate.

“But if we use this as a reason to capitu-
late, and let their culture take over, then we
have lost our country.”

Since the web shop operators have become
so brazen that they have hung out their signs
for business, it would be interesting to know
if they pay a business tax like the rest of us.

One way or the other legislation has to be
introduced, either to eliminate the business or
to strictly regulate it.





CORNER, P.O.



Nassau, Bahamas.








sing.
as







ess,

rrEVEN NN




What will
The Bahamas

EDITOR, The Tribune.

THERE is a growing uneasi-
ness, maybe even a fear, that
the Bahamas as we know or
knew it will not exist in the next
10 years.

During the PLP administra-
tion much was made of mega

anchor projects which would,

bring some $20 million to the
Bahamas.

If this was accurate, one must
wonder what they would be.

We hear much about the
exalted Kerzner International
development on Paradise
Island.

But if one truly looks at Par-
adise Island now, one would
clearly see that what Sol Kerzn-
er has created and developed
on that Island is a playground
for the mega rich and rich.
Slowly but surely the Bahamian
is excluded unless you fall with-
in one of the servant categories.

Is this what the Bahamian has
to look forward to for his future
in the guise of economic pros-
perity?

The temporary transient con-
struction job? The job as maids,
gardeners door keepers, etc?

On Paradise Island, you have
to be extremely wealthy to
maintain residence.

Other areas on Paradise
Island are slowly being con-
sumed by Kerzner Internation-
al.

Or is the fate of the Bahamas
in projects like Bar Mar, Albany
and Cove House in the West of
the Island?

These projects appear to have
been approved along with the
diminution of the existing rights
of the Bahamian home owners
in the areas.

For example, after Bar Mar is
completed with its proposed
development (which has
enlarged and changed dramati-
cally from its first presentation),
will there be another Kerzner
at the north western end of the
island where the Bahamian will
no longer be allowed to go
through the area?

Will all Bahamians at the
western end of the island be
forced to use the airport or air-
port or Coral Harbour roads?
Another gated and secured area
where the only Bahamians
allowed in or out will be the
employee?

Or Albany where after the
construction of the private
homes, the only real and last-
ing jobs will be those for house
or yard work and maintenance?

Or the Cove House on West
Bay Street, immediately north
of “Nirvana” where the Town
Planning Committee of the

NOTICE

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BOX N-8566, 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 13TH day of FEBRUARY, 2008 to the Minister
responsible for Nationality and Citizenship, PO.Box N- 7147,

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Ministry of Works has approved
the development of at least five
apartment/condo complexes
with a minimum of 120-240
units sitting on an area of less
than four acres.

What is the benefit of this
development to the residents of
West Bay Street or indeed in
the long term, the provision of
jobs for Bahamians?

No doubt, this too will be an
area of homes for the wealthy
seasonal resident who will
require little or no full time
Bahamian staff.

Note well that this develop-
ment is also approved in an area
where the majority of property
owners have restrictive
covenants on their properties
limiting development to single
family dwellings. |

How do these projects get
approval without any consulta-
tion with the residents of the
areas?

One observant and brave per-
son submitted a query to The
Tribune about the monstrosity
which is currently under con-
struction on Paradise Island and
questioned what happened to
the regulations/covenants as to
heights of structures or the
building code on that island. No
answer from any governmental
or private entity has yet been
forthcoming. Instead all we are
fed are political rhetoric about
events long gone.

Prime Minister Ingraham in
an article in The Tribune dated
January 26, 2008 is quoted as
having said: “Our commitment
to create jobs and new business
opportunity in our country will
not get in the way of our greater
commitment to protect nation-
al interests.

“It is in your interest that
development approved by us
result in the creation of a com-
munity that we, the Bahamian
people, want....(the FNM gov-
ernment, the Prime Minister
said, is striving to create a coun-
try where Bahamians are able
to afford prime residential and
commercial land for develop-
ment, are able to access Crown
Land at preferential rates for
residential, agricultural and
commercial development, and
will continue to have access to
beaches, the shore line and
open green.spaces for recre-
ational purposes.

The administration, Mr Ingra-
ham said, “envisions a country
where Bahamians are assured
that the environment will be
safeguarded, will know that
their history and their heritage
is valued and treasured, will see
education and health receive
the focused attention of the gov-
ernment and will know that
their human, civil and social
rights are respected and that
their protection is guaranteed.”

If this is true, and is indeed
the guarantee of the FNM gov-
ernment, then why are the
Bahamians being subjected to
the gradual but real loss of their
human, civil and social rights as
evidenced by the slow emer-
gence of these “anchor/devel-
opments”?

be in 10 years?

Who are the real employees
in these developments?
Bahamian?

Why are current property
owners finding that the single
family lot next door or two lots
away has been given subdivi-
sion approval for a small devel- |
opment next door.

Is this too under the guise of
creating jobs for Bahamians?

Let us be real! We know that
at maximum, whatever jobs are
created from these
projects/developments, the loss
to the Bahamian of his right to
the enjoyment of his country
and areas of the island where
they and their forefathers
heretofore had freedom of
movement and association will
be forever lost.

These “projects” appearing
under the guise of “develop-
ment” or “foreign investment”
are no more than enterprising
foreign persons who come with
speculative adventures to attract
the use of the massive amounts
of disposable money of the
wealthy, to exploit the reputa-
tion of the paradise known as
The Bahamas.

These persons may or may
not come to live in The
Bahamas.

But their expensive condo-
miniums will be rented and
managed by realtors or others
in The Bahamas and all expat
workers will, as a part of their
benefit for moving to the
Bahamas, insist on their
employers paying the exorbi-
tant rents requested, thus cut-
ting out the real Bahamian
entrepreneur who has built a
few units for rent as a means of
having an alternate income to
the “salary”. So even in this
regard, the Bahamian loses.

Well, Mr Major, Director of
Physical Planning, can you
assure the Bahamian that when
you and the Committee
approves these projects under
the guise of “development” you
have asked the Bahamian if that
is the kind of development that
they want.

Mr Minister of Works, are
you satisfied that when your ©
departments have carried out
their investigations, that they
have done so with the will of
the average Bahamian in mind?

Mr Prime Minister, are you
satisfied that the human, civil
and social rights of every
Bahamian are respected and
guaranteed?

If not, then, sirs, you have
done the Bahamian people a
grave and irreparable disser-
Vice. :

The Bahamas needs leaders
who will not just use nice words,
but who will show by action that
they work to ensure the human,
civil and social rights of the
Bahamian are respected and
guaranteed.

Could this be one of the
underlying causes of the
increase in violent crime in this
country?

Interested to see who will
answer.

FURIOUS BAHAMIAN
Nassau,
January 27, 2008.

Christian Council should fight
for the equality of Bahamians

EDITOR, The Tribune.

WITH regard to The Christian Council’s position on gambling,
please allow me to remind them that gambling in The Bahamas is
already legal. It is just not legal for Bahamians. So the bigger issue
is why after 40 plus years of Majority Rule and 30 plus years of Inde-
pendence, Bahamians are still second class citizens in their own

country.

Since the Christian Council is opposed to gambling, are they
going to call for the closure of all Casinos and the outlawing of Casi= ~~
no gambling for non-Bahamians and hence the unemployment of
thousands? Or are they okay with double-standards?

Imagine buying a brand new 42” High Definition Plasma tele-
vision and inviting your neighbours to watch it, but refusing to let
your children enjoy it. That is how the average Bahamian must feel
when he sees how non-Bahamians can come to this country and
enjoy privileges which Bahamians cannot.

Personally I don’t gamble, therefore if and when Numbers
become legal, I will not engage in it.

What the Christian Council ought to fight for is the equality of
Bahamians in their own country — even if it includes the right to

gamble.

KENN MORTIMER
Nassau,
February 18, 2008.



THE TRIBUNE

WEDNESDAY, FEBRUARY 20, 2008, PAGE 5



© In brief

Discontent is
‘nursery bed
of change’,
says Bishop
Simeon Hall

Bishop Simeon Hall



THE Bahamas will continue
on its downward spiral unless
there is a new national resur-
gence of discontent which was
common in the 1950s and
1960s, well known Baptist
preacher Bishop Simeon Hall
said in a statement yesterday.

“Discontent is the nursery
bed of change and change is a
result of new thinking. A new
mindset towards social
progress and development is
needed to pull the Bahamas
into the 21st Century,” he
said.

Bishop Hall said that both
political parties seem unable
or unwilling to complete the
social revolution of the 1960s,
“because they continue to
think only as far as the next
election rather than the next
generation.”

“There are yet some
Bahamians who never got the
promised ‘square deal’ and a
growing number for whom
things are not getting better,
better — but bitter, bitter.

“Forty-one years after
Majority Rule our public ser-
vice stinks and is corrupt; our
judiciary is slow and anti-poor;

our educational system 1s.
shameful; foreigners are.

favoured by our national poli-
cies more than Bahamians and
a national spirit of social
lethargy prevails — these all
make for continued social
decadence and national
unease,” Bishop Hall said.

Sensitive Baha
Mar land
zoned ‘no
build’ area

THE government is zoning
Baha Mar’s 71.40 acres of
environmentally sensitive
land, situated on the western
side of Malcolm Avenue, as a
“no build” area and designat-
ing it for use as a public park
only, Prime Minister Hubert
Ingraham said Monday in the
House of Assembly as he
tabled the Supplemental
Heads of Agreement.

Baha Mar is expected to
invest a minimum of $1 mil-
lion in improving and devel-
oping the park for appropriate
recreational use and as a wild
life and wetlands sanctuary.

The prime minister said that
Baha Mar will also donate $1
million to a trust for the per-
petual maintenance of the
improved site. .

The trust will be managed
by the Bahamas National
Trust or by another entity
agreed to by the government
and Baha Mar.

‘Remediation
costs to be
shared’ — PM

THE Supplemental Heads
of Agreement provides for
Baha Mar to assume respon-
sibility from the Hotel Corpo-
ration of the Bahamas for the
balance of the oil spill clean-
up at the former Radisson
laundry facility site, Prime
Minister Hubert Ingraham
said on Monday in the House
of Assembly.

Oil spillage occurred both
prior to and since the sale of
the property.

“It is reasonable for both
the Hotel Corporation and
Baha Mar to share in the costs
of remediation,” the prime
minister said.

AFTER THE US BEEF RECALL, LOCAL SHOPS SEND AN ASSURANCE TO PUBLIC

eat is safe, stress

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

IN LIGHT of the recent
recall of 143 million pounds
of beef products from the US
market by the United States
Department of Agriculture,
local food stores are assuring
the public that their products
are safe and have not been
affected by the statewide
recall.

On Sunday, the US Depart-
ment of Agriculture ordered
the recall of 143 million
pounds of frozen beef from a
California slaughterhouse that
provided meat to school lunch
programmes. The recall will
affect beef products dating to
February 1, 2006, that came
from Chino-based West-
land/Hallmark Meat Compa-
ny.

Yesterday, executives from

both City Markets and the

SuperValue food stores
assured the public that they
have never purchase any beef
from the Westland/Hallmark
Meat Company.

“We don’t purchase any
meat from that plant. We are
totally clean and above board.
We don’t purchase from per-
sons who use such primitive,
inhumane methods to slaugh-
ter.

“They were prodding those
animals to make them stand
up. That’s wrong,” said Mr
Dominique Butler, meat man-
ager at City Markets.

Speaking on behalf of Super
Value, Mr Clifton Fernander,
the perishables buyer for the

entire SuperValue chain, said |

that all of their beef is import-
ed through a‘company in







A WORKER throws a piece of meat among cattle carcass scraps dropped into a truck at the Hallmark Meat Packing slaughterhouse in Chino, Calif.



ian food stores

ADamian Dovarganes,r/AP Photo

in this Jan. 30, 2008 file photo. The U.S. Department of Agriculture on Sunday recalled 143 million pounds of frozen beef from from Chino-based
Westland/Hallmark Meat Co. a Southern California slaughterhouse that is being investigated for mistreating cattle.. -

Florida called Associate Gro-
cers. “We have contacted our
supplier and they have never,
never bought from these sup-
pliers. We just want the public
to know that it is safe to buy
beef from SuperValue,” Mr
Fernander said.

US officials said this nation-
wide recall was the largest
beef recall in the United
States, surpassing a 1999 ban
of 35 million pounds of ready-
to-eat meats. As no illnesses

Irish govt approves
$2.4m contribution

to the OSI

THE Irish government has
announced its approval of a
$2.4 million contribution to
the Caribbean Catastrophe
‘Risk Insurance Facility
(CCRIF), which will benefit
16 countries in the region,
including the Bahamas.

The contribution is the lat-
est addition to the donor fund

‘supporting the CCRIF, which

was launched at.a donor
pledging conference in Wash-
ington, DC, in February 2007.
The fund was able to raise $70
million in its first year.

Prime Minister Hubert
Ingraham, who serves as the
current chair of CARICOM
expressed his appreciation on
behalf of the CCRIF member
governments for the Irish
Government’s contribution.

“The consequences of cli-
mate change are severe for
Caribbean governments, par-
ticularly increasing our expo-
sure to natural disasters and
making pre-disaster planning
paramount. The additional
funds contributed by Ireland
will further strengthen the
facility and thus the Caribbean
governments it serves,” he
said.

Brendan Ryan, the Irish
government’s senior advisor
to the executive director at the
World Bank said that the deci-
sion to support the CCRIF
was taken late last year.

“The success of the Facili-
ty’s first year bodes well for
its future. Our donation is a
signal of the faith the Irish
Government has in the Facil-
ity and a show of support for
the Caribbean governments
that have taken a pro-active
stance towards disaster risk
mitigation by becoming mem-
bers of the CCRIF,” he said in
a statement.

Last year pledges totalling
$47.7 million were made by
Canada, the World Bank, the
United Kingdom, France and
the Caribbean Development
Bank. A further $19.5 million
was raised in the form of a
participation fee from each
CCRIF member country.





In thanking the World Bank
for facilitating the donation,
Milo Pearson, chairman of the
CCRIF board of directors
said: “This further donation is
important, not only because
of what it signifies, but also
because of the impact it will
have in building our reserve
pool.”

The CCRIF is the first mul-
ti-country risk pool in the
world, and is also the first
insurance instrument to suc-
cessfully develop a paramet-
ric policy backed by both tra-
ditional and capital markets.

It is a regional insurance
fund for Caribbean govern-
ments designed to limit the
financial impact of cata-
strophic hurricanes and earth-
quakes to Caribbean govern-
ments by quickly providing
financial liquidity when a pol-
icy is triggered.

The 16 countries that count
themselves members of the
fund are: Anguilla, Antigua
and Barbuda, the Bahamas,
Barbados, Belize, Bermuda,
the Cayman Islands, Domini-
ca, Grenada, Haiti, Jamaica,
St Kitts and Nevis, St Lucia, St
Vincent and the Grenadines,
Trinidad and Tobago and the
Turks and Caicos Islands.

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have been linked to the newly
recalled meat, officials said the
health threat was likely
“small”.

The Secretary of Agricul-
ture, Mr Ed Schafer, said in a
statement that his department
had evidence that Westland
did not routinely contact its
veterinarian when cattle
became non-ambulatory after
passing inspection — a viola-
tion of health regulations.

“Because the cattle did not



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receive complete and proper
inspection, Food Safety and
Inspection Service has deter-
mined them to be unfit for
human food and the company
is conducting a recall,” the
statement read.

US Federal officials have
suspended operations at the
Westland/Hallmark plant after
an undercover video from the
Humane Society of the United
States surfaced showing crip-
pled and sick animals being:

SQ

shoved with forklifts. Author-
ities said that the video
showed workers kicking,
shocking, and otherwise abus-
ing “downer” animals that
were apparently too sick or
too injured to walk into the
slaughterhouse.

Two former employees
have already been charged,
and a former pen manager
was charged with five felony
counts of animal cruelty and
three misdemeanours. :

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PAGE 6, WEDNESDAY, FEBRUARY 20, 2008

THE TRIBUNE



ee ie ST ae ea a
accuses government of

National Youth Service

Suspected
hoat thieves

Stolen vessel

@ By DENISE MAYCOCK
Tribune Freeport
Reporter
dmaycock@tribunemedia.net

FREEPORT - Two sus-
pected boat thieves were

apprehended at sea on boarda

stolen vessel near the Lucayan
Waterway on Sunday.

The male suspects, ages 31
and 18 years, both of Garden
Villas, are in custody assisting
police with their investiga-
tions.

Chief Supt Basil Rahming
reported that a team of marine
patrol officers spotted a vessel
that was reported stolen
around 8.25am on Sunday at
Marsh Harbour, Abaco.

According to reports, Timo-
thy Roberts of Abaco report-
ed his 21-ft Paramount speed-
boat, valued at $20,000, stolen
from the Rich Boat Rental
dock in Marsh Harbour some-
time between 6pm on Satur-
day and 8.20am on Sunday.

Mr Rahming said the infor-
mation was passed on to all
police in the northern
Bahamas.

Sometime around 9.15am,
police on Grand Bahama
received information that the
stolen boat was spotted off the
southern coastline of the
island traveling at full speed
towards Freeport.

Marine Division officers
were immediately dispatched
and intercepted the stolen ves-
sel around 9.50am in the vicin-
ity of the Grand Lucayan
Waterway.

As a result, police arrested
two male residents of
Freeport.

Police are also investigating
the attempted theft of a sec-
ond speedboat at Abaco on
Sunday morning.

Mr Danilo Mills of Spring
City reported that sometime
between 2.30pm Saturday and
8.20am Sunday, someone had
attempted to steal his 30-ft
Wellcraft boat.

The vessel was also docked
adjacent to the Rich Boat
Rentals.

Culprits had cut the ignition
wires but were unable to start
the engines.




PLP youth arm

apprehended on

‘tearing down’

THE youth arm of the PLP
yesterday accused the FNM
of “tearing down” the Nation-
al Youth Service and blamed
the government for “gutting
and bastardising” the Urban
Renewal programme “until it
is only a caricature of its for-
mer self.”

The Progressive Young Lib-
erals (PYL) in a press state-
ment yesterday said that they
were appalled at hearing
Prime Minister Hubert Ingra-
ham’s remarks on the Nation-
al Youth Service, which was
implemented under the for-
mer Christie Administration

GB FNM Council to
honour C A Smith

@ By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT - The Grand |
Bahama FNM Council will hon-
our former Cabinet minister C A
Smith for his “lifetime of service”
to the Bahamas at a special tribute
event next month.

David Thompson, chairman of
the FNM Grand Bahama Council,
told the media that the event is
planned for April 5 at the Xanadu
Beach Hotel at 7.30pm.

The theme of the evening will
be “Mr Smith Goes to Washing- |
ton.” .

Mr Thompson said that Prime “nr :
Minister Hubert Ingraham will PRIME MINISTER Hubert
attend the event and give special Ingraham will attend the event.
tribute to Mr Smith.

“Tt will be a night of tribute, praise, appreciation and celebration,”
he said at a press conference on Monday at the Sir Cecil Wallace-
Whitfield Community Centre.

Parliamentarians, former parliamentary colleagues, supporters,
friends and family, former constituents and the general public are
expected to attend.

Mr Smith was officially appointed as Bahamas Ambassador to the
US in Washington, DC, in October, 2007.

Prior to his involvement in politics, Mr Smith was a former edu-
cator. He entered frontline politics and served for many years as the
MP for Pine Ridge in Grand Bahama.

He also served as a Cabinet minister and was appointed on
many public and private boards.

Mr Thompson said that Mr Smith has served his country for
many years and has touched the lives of thousands of people.

He said that there will be fun-filled activities, raffles, reflections,
and tributes paid to Mr Smith at the April 5 celebration.

The FNM is encouraging the public to attend the special event for
Mr Smith to show appreciation for his many years of dedicated ser-
vice to the country.



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and directed by talk show host
Jeffrey Lloyd.

“It appears that Mr Ingra-
ham has interest in cutting the
National Youth Service
because $871,000 is too much
to invest in a youth rebuild-
ing programme. We are sad-
dened by the fact that our
prime minister would de-value
the efforts of such a service
simply because the number of
youth participants isn’t as
large as he would like.

“We believe that progress
is made in this country if one
young person has decided to
change their course and head
in the direction of prosperity
and success,” the young liber-
als said.

The group said that often
programmes are implement-
ed with the intention of reach-
ing out to thousands of young
Bahamians at a time, “but fail
to reach one.”

However, the PYL said it
believes that if the country
were to take a more small-
scale approach, the effects
would be far more fruitful.

“This is what we have seen
in the National Youth Service,

in collaboration with the
YEAST (Youth Empower-
ment and Skills Training) pro-
gramme. The fact of the mat-
ter is that the programme, as
every other programme the
FNM has sabotaged, was
working.

“Mr Ingraham, however,



“It appears that
Mr Ingraham
has interest in
cutting the
National Youth
Service because
$871,000 is too
much to invest
in a youth
rebuilding ©

programme.”



The Progressive
Young Liberals

saw fit to place emphasis on
his position that saving the life
of a young man is not worth
$13,000 a year, and 65 lives
being changed for the better is
not a significant factor to, the
country’s overall growth,” the
young liberals said.

The PYL said that they sup-
port the National Youth Ser-
vice and commend the pro-
gramme for the difference it
has made in such a short time.

“It is quite apparent that
many young Bahamians are
attempting to redeem them-
selves in school and in other
aspects of their lives when giv-

en the chance,” the young lib-
erals said.

The group said that for the
FNM to support discussions
with youth on crime on the
one hand, and then have the
prime minister come back less
than a week later to “throw
away a group of young
Bahamians”, shows just how
disingenuous the government
is being.

“The youth of this nation
must be more than a photo
opportunity or a vote to win
for the FNM. These are young
lives that were being instruct-
ed in the right way by a pro-
gramme started by the
Catholic Church and support-
ed wholeheartedly by the PLP
while in government,” the
PYL said.

It is the view of the young
liberals that $13,000 is not
nearly enough to spend sav-
ing a generation of youth. The
group called on the govern-
ment to allow the programme
to remain intact.

“With many teens being
murdered and some in jail for
murder, the government
should seek to invest more
into the National Youth Ser-
vice rather than expressing a
disinterest in youth empow-
erment.

“This shows that they have
no concern or care for young
Bahamians and only view us
as window dressing and
votes,” the PYL said.

European movie is
expected to bring
economic boost
to Grand Bahama

m@ By DENISE MAYCOCK
Tribune Freeport
Reporter
dmaycock@tribunemedia.net

FREEPORT - The film-
ing of a new European
movie on Grand Bahama is
expected to bring some eco-
nomic boost to the island
next month.

The Bahamas Film Studios
announced that “Der See
Wolf”, a German-produced
movie based on Jack Lon-
don’s 1904 novel “Sea
Wolf”, will be filmed on
Grand Bahama in mid-
March at the film studio in
East End.

Diane McGonigal, manag-
er of Bahamas Film Studios,
said that film production will
provide jobs opportunities,
and directly benefit many
local businesses here.

The film studio is holding
open casting calls on Febru-
ary 23 at UNEXSO at 3pm
for 38 men and five women
to perform as extras and
background cast members
for the film.

According to film officials,
applicants should be at least
18 years old. They must pro-
vide a photo ID, and dress in
form-fitting clothing.

Preferred applicants would
be strong swimmers with
sailing experience. Fluency
in German is desired but not
required.

“The production (will) be
providing excellent oppor-
tunities for those who wish
to gain acting experience,”
said Ms McGonigal.

“There is so much talent
in Grand Bahama and we
are thrilled to showcase our
island in this film.”

She also said that the pro-
ject will also employ dozens
of Bahamians and will pro-
vide eight internships for
persons aspiring to film
industry careers.

Ms McGonigal said many

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local businesses will also
benefit directly from the
production.

She reported that the pro-
duction will be booking
approximately 3,000 room
nights with local hotels,
including the Pelican Bay
Resort.

The film executive also
noted that additional pur-
chases of goods and services
from local businesses will
have a far-reaching effect on
the economy.

Hofmann and Voges
Entertainment GmBH,
which is based in Germany,
will produce the film for
release in the European
market in late 2008.

Thomas Kretschmann,
who appeared in Peter Jack-
son’s “King Kong” and the
soon-to be-released motion
picture, “Transsiberian,”
among other film credits,
will be starring in the movie.

Anett Grunbeck, the film’s
production manager, said
that the Bahamas is the ide-
al location for the project.

“We are looking forward
to filming here in Grand
Bahama,” said Ms Grun-
beck, who scouted many
international locations for
the shooting.

“The island is very beauti-

its, will be starring in
~ the movie. (AP)



helpful. The Studio facilities
are working well for our
film, and we are very pleased
with the service being pro-
vided,” she said.

Ms Grunbeck also com-
mended The Bahamas Film
Commission for its support
of the film.

Bahamas Film Commis-
sioner Craig Woods said the
film will also bring signifi-
cant exposure to the
Bahamas.

“This is an exciting time
in Grand Bahama,” he said.

“Beyond the immediate
benefit of providing addi-
tional training opportunities
and jobs, the tourism prod-
uct will be promoted as well.

“When this film airs in
Europe, and viewers see the
natural beauty here in The
Bahamas, the result is
always positive for our
tourism endeavors,” he said.

The Bahamas Film Studios
at Gold Rock Creek offers
directors and producers a
superb location. It has one
of the largest state of the art
mega water tanks in the
world, which was used for
the filming of Disney’s
Pirates of the Caribbean II
and Ill. ,



THE TRIBUNE

WEDNESDAY, FEBRUARY 20, 2008, PAGE 7



Dame Marguerite
FROM page one

diovascular Surgery, and
Chief of the Surgical Service
at the Princess Margaret Hos-
pital, Dr. Williamson Chea,
consultant, General Surgeon,
PMH, Dr. Perry Gomez, her
private internist, and former
Chief of the Medical Service,
PMH, Dr. Karen Rowe, con-
_ sultant and anaesthesiologist,
PMH and spokesperson, Dr.
Conville Brown, consultant,
Cardiologist at the Princess
Margaret Hospital.

Officals expect to update
the nation this morning on
Dame Marguerite’s condition.

This is not Dame Mar-
guerite’s first stay in the hos-
pital. Last year, she was hos-
pitalised for nearly three
weeks after being admitted
complaining of acute abdom-
inal pain. It was speculated
that she had suffered from
pancreatitis. Her doctors
refused to confirm or deny the
reports, however. Character-
istic of pancreatitis is the acute
pain in the abdomen due to
inflammation of the pancreas.
It occurs suddenly and lasts
for a short time. At this time
it is not known whether this
most recent admittance to the
hospital is in connection with
her previous stay.

Dr. Conville Brown said
last year that even though
Dame Marguerite is a public
figure, she is not a civil ser-
vant and privacy should be
awarded to some aspects of
her life. She is most recog-
nized as the widow of the
‘Father of the Nation”, Sir
Lynden Pindling. She has
been described by her sup-
porters as being a critical part
of Sir Pindling’s political life.
She is active in a number of
charities and organizations in
the Bahamas, particularly the
Sir Lynden Pindling Founda-
tion which provides scholar-
ships to students from Andros
for entrance into the College
of the Bahamas.

Chairman
FROM page one

However Mr Roberts has
gone on record to state that
he will not be vying for the
post.
Roberts, another would-be
candidate, the former Mount
Moriah MP Mr Keod Smith
had indicated his intentions
to run for the position. How-
ever, Mr Smith has since
withdrawn his petition.

As The Tribune has pre-
dicted, the position of
national Chairman is expect-
ed to be the most highly con-
tested at the PLP’s conven-
tion today.

Official nomination will
begin at 2pm today and vot-
ing is expected to encompass
all of Thursday’s session. at
the Wyndam Nassau Resort.

Initial reports reaching
The Tribune have suggested
that Mr Gray was being lined
up by party Leader Perry
Christie to contest the chair-
manship in opposition to
Mrs Hanna-Martin — the
highest profile candidate so
far to declare interest in the
_ post. It was suggested that
Mr Christie would oppose
Mrs Hanna-Martin gaining
the chairmanship post as she
has been aligned with PLP
MP for West End and Bimi-
ni Obie Wilchcombe who is
rumoured to be seeking the
leadership of the party. Such
an alliance, sources said,
could hurt Mr Christie’s
chances of holding onto the
leadership of the party lead-

ing into a next general elec- .

tion.









FROM page one

the PLP’s 50th Convention.

Though she did not wish to
pre-empt what her husband
might say at the convention
about leadership issues in the
party, Mrs Christie did lament
how some have taken his
efforts for granted while he has
been at the helm of the PLP.

“I know personally, if I were
in his position, I think having
sacrificed what he has sacri-
ficed to build the organization
to. where it is, it’s a bit sad
when you see people trampling
on that, not appreciating,” she
said. “You know, sometimes
you may pause and say thank
you, as opposed to ‘all right,
it’s my turn, out you go’. So
there is a way to do things, and
he’s still got a lot to offer to
this country and I think it is
important that whoever the
next leader is — whenever that
might be — that they have the
heart of the party passed over
to them.”

She continued: “Because this
party is, you know, made up
of a lot of people who have a
lot of heart and soul in the
PLP, and if you come off with
the wrong spirit, and do things
in the wrong way, I don’t think
you are going to inherit the
heart of the party. And that
might be to your own deter-
ment. You might inherit a par-
ty, but you might not ever be
able to win a government. So,

LOCAL NEWS

Future leadership hopefuls ‘must
secure the heart of the party’

you want to be sure that you
do it the right way.”

During the interview, Mrs
Christie was very passionate
about the halt placed on the
National Health Insurance pro-
gramme by the FNM govern-
ment, which was championed
by her husband. She also
expressed frustration and dis-
appointment over the FNM
government's alterations to the
Urban Renewal programme,
which she thinks was a critical
intervention in the social devel-
opment of the Bahamas, and
an essential tool in the fight
against crime.

“From a national perspec-
tive, ] am disappointed that the
PLP is no longer in power. I
personally would have liked to
have seen National Health
Insurance be developed and
come into fruition,” she said.

“T think the Urban Renewal
programme was working.
Really, I think when we talk
about the social ills in the coun-
try, and we talk about crime,
people are just getting it.
They’re just realizing that
when you approach it, and
when you attack it at the root
level, that’s when you have
more success. And so I am
really disappointed in the
reversals of the Urban Renew-
al only, for the only reason that
it had Perry Christie’s stamp
on it. I think that was pretty
petty and small and short-
sighted.”

During the last election cam-

paign, the FNM strategically
branded Mr Christie as “slow”
and “indecisive.” Then Oppo-
sition Leader Hubert Ingra-
ham, shortly before the disso-
lution of the last Parliament,
even went as far as calling Mr
Christie “impotent” on the
floor of the House of Assem-
bly.

Of these criticisms of her
husband as “slow” and “inde-
cisive”, Mrs Christie said:

“He is definitely not slow, I
think he is methodical and he is
a consensus builder.

“A lot of people don’t appre-
ciate that, that’s a little bit
beyond them.”

Expanding on this point, Mrs
Christie referred to the saga of
Kenyatta Gibson. Mr Gibson
issued a scathing attack on the
PLP’s leader after Mr Christie
asked for his resignation from
the House, the day after Mr
Gibson resigned from the PLP.

“T think one of my criticisms
of him (Perry Christie) — and I
certainly, I have a different
type of personality than he

does — I don’t give people too ©

many second chances. That’s
been to his detriment.

“And you see now with the
issues of, say Kenyatta Gibson,
who God forbid, I mean he
should have been the last per-
son to have done what he di,”
she said.

“I know personally, you
know, the personal struggles
that my husband had with try-
ing to keep his dignity. Because

In. addition: to ;Mr,

Fidel Castro resignation

FROM page one

has not been seen in public since emergency
intestinal surgery forced the island’s leader to
temporarily cede power to his younger brother,

Raul Castro, 76.

* Under his leadership, Cuba has seen high lev-
els of health care and education while remaining
fully independent of the United States. However,
a strict regime has led hundreds of thousands of
Cubans to seek refuge in the United States and
other countries over the last 50 years.

Manuel Cutillas, a member of the Cuban exile
community in The Bahamas for the past 46 years,
told The Tribune yesterday many Cubans believe
the former president will remain the “Power
behind the throne.”

“I think in general the reaction is that at least
its proof that Castro is no longer able to be head
of government and take care of the day-to-day
affairs of government in the country. (Howev-
er) we don’t think that anything changes in Cuba
until he is completely out of the picture and (in
spite of his retirement) he will not be completely
out of the picture. He will be continue to be the
power behind the throne, even though he may not
be in charge of day-to-day affairs.”

Despite his retirement, the former president
will still have significant influence on Cuban pol-
itics. He remains a member of parliament and is
likely to be elected to the 31-member Council of
State on Sunday, though he will no longer be its
president. He also retains his powerful post as first
secretary of Cuba's Communist Party, according
to the Associated Press.

Critics of the Castro regime are pessimistic
that Raul Castro - Cuba’s imminent president -
will implement reform on the politically charged
island.

“There may be some mild reform implemented
especially in the area of economy, only because
the situation is so desperate in the county and the
people are fed up with the system,” said Mr Cutil-
las who believes real change will not begin in the
country until the Castro brothers are completely
out of government.

‘At a press conference Tuesday while in Rwan-
da, President of the United States George Bush
was asked what President Castro’s resignation
meant for US policy. He replied:

ote

Internation: Al

SL yfons
ee





“I view this as a period of transition; that — and
it should be the beginning of the democratic tran-
sition for the people in Cuba. I believe that the
change from Fidel Castro ought to begin a period
of democratic transition.

“The international community should work
with the Cuban people to begin to build institu-
tions that are necessary for democracy. And even-
tually, this transition ought to lead to free and fair
elections — and I mean free and I mean fair, not
these kind of staged elections that the Castro
brothers try to foist off as being true democracy.”

Throughout his political career, Fidel Castro
has been a vocal opponent to American policies.
As Cuba’s unchallenged leader since 1959, Castro
is the world’s longest reigning head of state, with
the exception of monarchs.

Despite his physical absence from the public
eye since July, 2006 former president Castro has
maintained contact with the public through a
number of essays on Various topics that he has
written from time to time.

Inquiries about status of
Alfred Gray legal action
FROM page one

from the vicious allegations made against me
recently in the media.”

He did not name the two newspapers he said he
planned to sue.

“Tam certain that my enemies have brought me
to it, but God will take me through it,” he said.
“This is my final statement on this matter and |
will now allow the legal process to take its
course.”

Messrs Mitchell and Gray refused to answer
reporters’ questions and in addition Mr. Mitchell
denied reporters’ requests for copies of the writ.

After the conference, a Tribune reporter was
sent to the Registry to get a copy of the writ,
however, he was refused on the grounds that
“the documents could not be made public until
the parties had been served.”

As of today’s date no writ or other originating
process has been served on The Tribune.

he recognized that as a young
man, you know, when you
make a mistake, you don’t
squash somebody.

“And here is a man like that,

having gone through that expe-

rience with a leader like Perry
Christie, to do that to the orga-
nization and to Perry Christie,
you know, personally, he
wouldn’t have had a second

chance with me. No, that’s the
way Iam.

“So, that I don’t really like
about my husband, but you
know five ten years down the
road and I look back and I
always say that he was right to
do things the way he did it.

“So you know, I suppose
that’s to his credit,” said Mrs
Christie.

Influx of Cuban immigrants
‘Will probably continue’

FROM page one

ed Acting President in July, 2006 after President Castro fell ill, is
expected to be the newly elected president when Parliament meets on

Sunday.

During an interview with The Tribune, Cuban exile Manuel Cutillas
said the feeling among most Cubans is there will be “more of the
same” on the politically charged island as the ex-president will remain

the “power behind the throne.”

A Cuban exile who fled President Castro’s regime in 1960, Mr
Cutillas believes as long as there is a glimmer of hope for a future of
freedom in countries like the US and The Bahamas immigrants will
continue to leave the Cuba in droves.

“As long as the situation remains as drastic and serious as it is, the
Cubans will continue to try and leave the country because that is the

only hope they have.

“When you talk to Cubans.and you ask them ‘what do you think of

the future’ and they say ‘the future is another country,

999

neighbouring

countries will continue to see an influx in Cuban immigrants.
Of the Cuban community’s reaction to Tuesday’ s monumental news,

Mr Cutillas said:

“I think in general the reaction is that at least its proof that Castro
is no longer able to be head of government and take care of the day-to-
day affairs of government in the country. (However) we don’t think that
anything changes in Cuba until he is completely out of the picture and
(in spite of his retirement) he will not be completely out of the picture.
He will continue to be the power behind the throne, even though he
may not be in charge of day-to-day affairs”.

President Castro was Cuba’s unchallenged leader since 1959. His
reign survived nine US presidents, several assassination attempts and
a five-decade long US imposed embargo on the island.

Interested parties speculate there may be some reform to Cuba’s
political landscape with the imminent presidency of Raul Castro.
However, Mr Cutillas believes these will not be dramatic changes.

“Dramatic change will occur when there is a free press, when peo-
ple can speak out freely without fear of being jailed, when Cubans will
be allowed to travel freely out of the country,” Mr Cutillas said.

Manuel Cutillas has made The Bahamas his home since 1961.

According to the US Department of Immigration’s website, tens of
thousands of Cubans attempt to enter the United States illegally every

year.

Several attempts were made by The Tribune to secure a comment
from relevant ministry officials, but up to press time calls were not

returned.

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PAGE 8 WEDNESDAY, FEBRUARY 20, 2008

THE TRIBUNE







INSTRUCTOR Dustin Ruth demonstrating arrest procedures with some of the law
enforcement participants at the RBDF Coral Harbour base.

ing procedures.

The course was designed to provide
Bahamian boarding team members with
classroom instruction and practical exer-
cises to conduct normal to high-risk board-
ing. The US instructors tailored the course
to meet the specific needs of the Bahamas
and to supplement previous training.



FACILITATORS of the advanced maritime law enforcement ‘raining course sated
from left: Chief Anthony Cirillo; Senior Lieutenant Clarence Dean; Lieutenant Glenn
Katsuki; Commander Michael Simmons; US Coast Guard Lt Cmdr Michael Fredie;
Lt Cmdr Cheryl Bethel and Lt Junior Grade Mary Heron flanked by course participants
at the RBDF Coral Harbour base.

MAIN DREDGING EQUIPMENT REMOVED IN FLOAT-ON OPERATION

30m Freeport Harbour
project is completed

THE $30 million-expansion,
deepening and reclamation pro-
ject at Freeport Harbour car-
ried out by Great Lakes Dredge
and Dock Company (GLDD),
LLC of Oak Brook Illinois, was
recently completed with the
removal of the main dredging
equipment in a major float-on
operation by engineers and
technicians of GLDD and
Freeport Harbour Company
(FHC).

Great Lakes were on site and
in position to start the work in
May 2007 and the works were
completed last week with the
GLDD dredge ‘Texas’ depart-
ing Freeport onboard the heavy
lift vessel the MV Tai An Kou.

The dredge involved the
removal of 1.5 million cubic
yards of fill.

Of that, one million cubic
yards represented the removal
ot the limestone peninsula pro-
truding into the harbour basin
to a depth of 54.12 feet or 16.5
meters.

The deepening of Freeport
Harbour will facilitate the
berthing of the largest contain-
er vessels in the world, including
those presently being designed
and built.

x
g

Re
RC ESE GREER

ARENA AA GGA) Se



RAE



RR MHS

BW AHANG ete

ER Red Wie) The cede involved the removal of 1.5 million cubic yards of fill.

To date, constructions of con-
tainer vessels are in excess of
11,000 TEUs (twenty-foot
equivalent units), and capacity
is increasing. These mega ships
will require deep water har-
bours.

FCP is one of the largest
man-made harbours in the
world and the deepest in the

region. On completion of Phase
V, Freeport Container Port will
be able to boast 16 quayside
super post panamax cranes; 94
straddle carriers; a berthing area
of 1,536m (5,040 ft); 63 Hectares
(153 acres) of stacking area and
2.4 million TEU annual han-
dling capacity.

Great Lakes Dredge and

Dock Corporation is the largest
provider of dredging services in
the United States and a major
provider of commercial and
industrial demolition services

FHC is privately owned and
operated by a joint venture
between the Hutchison Port
Holdings (HPH) Group and the
Port Group Limited.





Hutchison Port Holdings
(HPH), a subsidiary of the
multinational conglomerate
Hutchison Whampoa Limited
(HWL), is the world’s leading
port investor, developer and
operator with interests in 24
countries throughout Asia,
Pacific, the Middle East, Africa,
Europe and the Americas.




PHOTO: Pam Hall

FREEPORT Container Port engineers Franklin Moul-
trie, Leighton Robinson and Mark Rampersaud pose
alongside a Noell straddle carrier on which they
trained while in Noell Wuerzburg, Germany — home of
the world’s second largest manufactures of straddle
carriers.

FCP picks three employees for
overseas training programme

THE Freeport Container Port
(FCP), Grand Bahama, has selected
three employees from the engineer-
ing department to participate in a
special training programme over-
seas, further preparing them for the
Phase V expansion or the port.

Engineers Franklin Moultrie,
Leighton Robinson and Mark Ram-
persaud travelled to Wuerzburg,
Germany, for training on the Noell
straddle carriers.

Upon completion of their train-
ing, the engineers will be certified
to repair, maintain and train in all
aspects of the straddle carriers.
Noell Wuerzburg is the world’s

second largest manufacturer of

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straddle carriers.
straddle carriers have been con-
structed for the FCP at a cost of $13
million dollars at the facility in Ger-
many.

The first set of straddle carriers
are scheduled to arrive in Freeport
later this month and will be assem-
bled at the container port.

At completion of the Phase V
expansion, FCP will consist of an
additional 500m (1,640 ft) of berth,
six quay cranes, 35 straddles carriers,
14 Hectares (35 acres) of stacking
area and 230 reefer points at a total
cost of $250 million.

The container port is situated only
65 miles from Florida, is the natural



Some 15 Noell.



US Ambassador’s courtesy calls



trans-shipment hub for the eastern
seaboard of the Americas and the
principal east/west line haul routes
through the region.

The FCP is a member of the
Hutchison Port Holdings (HPH)
Group, a subsidiary of the multina-
tional conglomerate Hutchison
Whampoa Limited (HWL).

HPH is the world's leading port
investor, developer and operator
with interests in a total of 292 berths
in 46 ports, spanning 23 countries
throughout Asia, the Middle East,
Africa, Europe and the Americas.
HPH also owns a number of trans-
portation-related service companies.

US AMBASSADOR
to the Bahamas Ned
Siegel paid a cour-
tesy call on the Pres-
ident of the Senate
Lynn Holowesko on
Thursday, February
14, in the majority
committee room of
the House of Assem-
bly, Parliament
Street.



US AMBASSADOR
to the Bahamas Ned
Siegel paid a cour- fh
tesy call on Speaker |
of the House of
Assembly — Alvin
Smith on Thursday,
February 14, in the
majority committee
room of the House of
Assembly, Parlia-
ment Street.

oe



PHOTOS: Patrick Hanna/BIS



Law enforcement officers take part in advanced maritime course

LOCAL law enforcement officers last week
completed an intensive advanced maritime
boarding officer course.

The advanced maritime law enforcement
boarding officer training course was held at
the Royal Bahamas Defence Force
(RBDF) base in Coral Harbour from Jan-
uary 28 through February 8, 2008.

The intensive two-week course included
21 participants from the Defence Force,
the police, and Customs and Immigration.

The course provided participants with
extensive instruction supplemented by prac-
tical exercises in subject control techniques,
defensive tactics, arrest procedures, use of
deadly force, decision-making, and board-



en
Visual arts

awards
presented
to schools,

students

MINISTER of Education,
‘Youth, Sports Carl Bethel took
part in the presentation of
awards to schools and students
who participated in the Ministry
of Education art and design
unit’s 10th annual visual arts
exhibition

Speaking at the event on
Monday, Mr Bethel said his
ministry first introduced the
exhibition to develop awareness
of the discipline of art and to
provide students with an oppor-
tunity to display their art work
in a major exhibition.

He explained that the exhi-
bition was designed “to develop
school pride in the presentation
of artwork, to demonstrate

competencies using a wide vari-

ety of materials as well as to
demonstrate the components of
the art and design programme.”

Schools participating in the
exhibition ‘were awarded cer-
tificates presented by represen-
tatives from the Royal Bank of
Canada, which sponsored the
event.

The competition was divided
into three divisions: Junior high
schools, Family Island high
schools and senior high schools.

~The three top winners
received trophies for their
efforts.

In the junior high school divi-
sion, first place went to S.C
McPherson, second place went
to C C Sweeting and third place
went to L W Young.

In the Family Island division,
L N Coakley in Exuma took
first place with Jack Hayward
High School and NGM Major
High School taking second and
third respectively.

In the senior high school divi-
sion, first place went to C C
Sweeting, second place went to
Government High and third
place went to CI Gibson.

The 10th Annual Visual Arts
Exhibition is now showing in
the centre court of the Mall at
Marathon.

Mr Bethel said the Ministry
of Education constantly seeks
to provide high quality teach-
ing and learning experiences
and opportunities for students
to grow and become well-
adjusted, well- rounded citizens.

“Art is one of those subjects,”
he said, “that builds self-esteem,
fosters creativity and helps the
student to develop and acquire
an understanding of their cul-
ture and the world around
them.

“Combined with academic,
technical and vocational sub-
jects, the ministry is satisfied
that the students who take full
advantage of what is being
oftered, will indeed be able to
make meaningtul contributions
to their families and our country
at the end of the day.”

Minister Bethel added that
the field of art and design is
“wide open” and that there are
many jobs students could qual-
ify for as result of their artistic
ability and knowledge.

“You may be the next
Maxwell Taylor or Antonius
Roberts. You can become an
art teacher or graphic artist, or
you may even want to delve
into cartoon animation which
would allow you to work with
computer programmes or
become a fashion designer who
can cause our Bahamian labels
to be recognised abroad,” he
told the students.

Mr Bethel commended
Pamela Chandler, education
otficer for art and design at the
Ministry of Education, and her
team for organising the event.

4



WEDNESDAY, FEBRUARY 20, 2008, PAGE 9

Old Bahamain Lumber ss wae 7
Company Building i CT ;

¢ 188 Wulff Road 3
ENTERPRISES LIMITED

Store Hours: 7am-4pm PS }
Mon.-Fri. Zam-3pm - Sat. “Tiling the Bahamas”

| 19 Patton St. * Palmdale Tel: (242) 326-Tile(8453) » Fax: (242) 326-5461
MLE NCE a del ) BPO Ry a Cit GCL RO Gae m= esse en Ee URC E

THE TRIBUNE



AN

Excluding
NET ITEMS

Excluding The Paint Centre



! BUILDER'S

Old Seen Lumber Company Building ¢ 188 Wulff Road
‘Store Hours: 7am-4pm Mon.-Fri. 7am-3pm - Sat. ees

oN UNM -inireyN Cesk



PAGE 10, WEDNESDAY, FEBRUARY 20, 2008

Shuttle Atlantis =
aims for Wednestlay
landing; NASA
Says fo pressure =

m@ CAPE CANAVERAL, Fla.

AFTER nearly two weeks ;
in orbit, Atlantis and its crew
aimed for a Wednesday land-
ing on either coast to clear the
way for the military to shoot
down a dying spy satellite,
according to Associated Press.

Flight director Bryan Lun-
ney said Tuesday that NASA
was under no pressure from
the Defense Department to
hurry up the touchdown. He
stressed that Mission Control
would abide by the usual
weather rules and keep the
shuttle aloft until Thursday if
conditions took an unexpected
turn for the worse.

Favorable weather was
expected at Cape Canaveral
on Wednesday morning as
well as at the backup touch-
down site in Southern Cali-
fornia. NASA normally does
not activate the California
landing strip so early, but
wants to get Atlantis down if
at all possible to give the Navy
more time to take aim at the
satellite from a warship in the
Pacific.

The Pentagon has said there
is roughly a weeklong window
to shoot down the satellite
before it enters Earth’s atmos-
phere with a toxic load of fuel.
That window began early this
week.

It would be dangerous for
Atlantis and its seven-man
crew to descend through all
the debris generated by the
satellite’s destruction. The
international space station is
orbiting 210 miles up, higher
than the satellite and thus safe
from any of the expected
debris.

Shuttle commander Stephen
Frick said he and his co-pilot,
Alan Poindexter, are excited
about the satellite operation
and can’t wait to see how it
turns out. Both are Navy com-
manders.

LOCAL NEWS

Chairman of Bank of Bahamas

THE TRIBUNE



International is announced

MACGREGOR Robertson,
one of the country’s pre-emi-
nent business professionals
and former managing partner
of Deloitte and Touche, has
been elected chairman of the
Bank of the Bahamas Inter-
national.

Retired banker Peter
Thompson, OBE, has been
named deputy chairman. Both
men are considered pioneers
in their respective fields.

Mr Robertson and Mr
Thompson were elected to the
top non-executive posts at the
bank’s first board meeting fol-
lowing its annual general
meeting in late January — a
meeting at which sharehold-
ers heard reports of record
performance and strong asset
growth.

Shareholders elected nine
new directors and returned
hotelier Robert “Sandy” Sands
and financial secretary in the
Ministry of Finance Ruth Mil-
lar to the board. Paul
McWeeney, managing direc-
tor, continues in that capaci-
ty. .
“Bank of the Bahamas
International has performed
extremely well for sharehold-
ers who have demonstrated
their loyalty over the years,”
said Mr McWeeney.

“On behalf of the entire
executive and strategic man-
agement teams, | am pleased
to welcome Mac Robertson
and Peter Thompson to the
positions of chairman and
deputy chairman, respective-
ly, and to extend that welcome

MacGregor Robertson, former managing
partner of Deloitte and Touche takes role —





to all the new directors,” he
said. The bank’s year-end
results showed strong perfor-
mance in every category, with
a sharp increase in sharehold-
er value, net income of nearly
$11 million and more than
$110 million in growth of total
assets. Dramatic asset growth
highlighted its annual report,
the Bank said in a statement
yesterday.

Mr Robertson, a founding
partner of the firm that
evolved into Deloitte and
Touche, served as its managing
partner for the Bahamas and
Caribbean. He has served as
chairman of the board of
Bahamasair and the Bahamas
Development Bank.

Mr Robertson is also a
founding member of the

Bahamas Institute of Char-
tered Accountants, as well as a
member of both the Nova Sco-
tia Institute and Canadian
Institute of Chartered Accoun-
tants.

Mr Thompson is a retired
banker, having worked for
many years in the Bahamian
banking industry where he
served in a top executive posi-
tion. He has previously served
on the boards of the Bahamas
Electricity Corporation,
Bahamas Telecommunications
Corporation, Bahamas Quali-
ty Council and the Bahamas
Red Cross.

Mr Thompson was awarded
a Silver Jubilee Award from
the Bahamian government in
1998 for his contributions to
national development in the

area of financial services.

He was also awarded Officer
of the Most Excellent Order
of the British Empire (OBE)
in the Queen’s New Year’s

-Honours List in 2002.

Other appointments during
the first board meeting includ-
ed Laura Williams as corpo-
rate secretary and Yvette
Johnson as assistant secretary.

Directors elected at the
annual general meeting also
included businessman and for-
mer banker Wesley Bastian;
insurance executive Marvin
Bethel; attorney Ruth Bowe-
Darville; insurance executive
Patricia Hermanns; College of
the Bahamas educator Dr Pan-
dora Johnson; attorney Hartis
Pinder, and insurance execu-
tive Patrick Ward.



MACGREGOR ROBERTSON,
one of the country’s pre-emi-
nent business professionals
and former managing partner of
Deloitte and Touche, has been
elected chairman of the award-
winning Bank of the Bahamas
International.

Ministry of Education and
OAS to sponsor workshop

“My first thought when we
talk about that is, "Go Navy,’ “
Frick said.

Frick and his crew spent
nine days at the space station,
helping to install Europe’s sci-
ence lab, Columbus. Except
for the undisclosed illness of
German astronaut Hans
Schlegel, which delayed the
lab’s hookup, everything went
precisely as planned.

After leaving the space sta-
tion Monday, Atlantis experi-
enced a heating system failure
that knocked out four small
aft thrusters. The thrusters are
not needed for re-entry, but
to prevent any fuel line dam-
age that could hold up
Atlantis’ next flight, NASA
had the pilots point the
thrusters toward the sun.

Atlantis’ next mission is at
the end of August when it flies
to the Hubble Space Tele-
scope with a team of repair-
men. It will be NASA’s last
visit to Hubble.














ROBB CLC)
OU
Horse Show

THE Rotary Club of New
Providence along with
Camperdown Stables is host-
ing its Sth Annual Horse
Show.

The show will take place
on the March 8 and 9.

The Horse Show is one of
the club’s fundraising activi-
ties. The money raised will’
go towards all of the: commu-
nity activities the Rotary
Club of New Providence
undertakes during the year.





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Fax: (242) 394 3902



THE Ministry of Education, in col-
laboration with the Organisation of
American States (OAS), is sponsoring a
workshop as part of the in-service train-
ing for public school teachers in key
strategies for the improving literacy in
schools project.

The training course for master litera-
cy trainers is one in a series of activities
which will eventually lead to the reali-
sation of the project’s purpose, which is
to improve literacy levels among public
school students.

The teachers participating in the train-
ing will be able to diagnose reading defi-
ciencies in students, identify appropriate

strategies to address weakness and pro-
vide reinforcement and additional sup-
port in literacy acquisition and improve-
ment, the ministry said yesterday in a
statement.

The three-day training workshop will
begin at 9am on February 19 at the
Church of the Epiphany.

Training

The workshop will provide training
for 75 teachers, the majority of whom
are stationed at Family Island govern-
ment schools.

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Following the course, the master lit-
éracy trainers will provide training for
their colleagues at school and district
levels.

Subsequently, similar training
will be offered for 75 New
Providence-based public school educa-
tors.

The College of the Bahamas is
responsible for facilitating the training,

-and a team of local professionals repre-

senting COB and the Ministry of Edu-
cation — both curriculum specialists and
classroom teachers — will present
and lead the plenary and break-out ses-
sions.

we



HAPPY TO HAVE received an Isolette and suction machine for use by the children of the children’s ward at the Princess Margaret Hospital,
some of the hospital's staff took the time to thank the corporate banking team of FirstCaribbean International Bank for their generosity. Pic-
tured left to right, are: FirstCaribbean’s credit manager Nedra Woodside; PMH’s chief of pediatrics Dr Paul Roberts; FirstCaribbean's head
of credit and service quality Earl Beneby; chief hospital administrator Coralie Adderley; Nurse Yvonne Clarke; head of corporate support
Jennie McDonald; PHA administrative assistant Lisa Deveaux; head of corporate banking Larry Bowleg, and team leader of client services
Krista Dean, both of FirstCaribbean International Bank.

First Caribbean International
Bank donates incubator to PMH

STAFF of the FirstCaribbean Interna-
tional Bank’s Corporate Banking Centre
recently donated a baby Isolette incubator
and a suction machine to the children’s
ward at the Princess Margaret Hospital
(PMH).

The donation is in keeping with the
bank’s commitment to its “Adopt-A-
Cause” programme, one of the bank’s
initiatives designed to foster volunteerism
and community involvement among the
staff.

This latest donation adds to First-
Caribbean’s staff involvement in paint-
ing and decorating the children’s ward as
well as purchasing clothing and school

materials for the children who board and
attend school at the hospital.

During the presentation, the bank's
manager of corporate credit and service
quality Earl Beneby said that the staff at
FirstCaribbean enjoyed working toward
meeting the needs of the children of the
ward,

“At FirstCaribbean, one of our goals
is to work together to enrich our com-
munities, so we are very pleased to be
doing this. It has made a difference in
our lives at FirstCaribbean and every day,
we see the difference that it is making to
the lives of the children on the ward,” he
said. Pediatrician Dr Paul Roberts

thanked FirstCaribbean on behalf of the
children’s ward of PMH and said that it is
always a pleasure to have corporate citi-
zens play a role in the development of
our nation.

“We are all very pleased that First-
Caribbean’s staff have volunteered to
help to restore and beautify the ward. It
made our holidays a lot more pleasur-
able and memorable. | would also like to
thank you for all the paintings, blinds and
new equipment,” said Dr Roberts.

The staff of the children’s ward at PMH
presented a plaque of appreciation to
FirstCaribbean International Bank tor
their continued support.



THE TRIBUNE

WEDNESDAY, FEBRUARY 20, 2008, PAGE 11





Will the revamped Mission House coin

Eleuthera — where —



The Bahamas began

OCK SOUND:
Other than sun,
sand and sea,
South Eleuther-
a's attractions are rather modest
— a landlocked ocean hole
where you can feed the snap-
pers, an 87-year-old fig tree
spreading along the highway,
and a historic Methodist manse.

The Mission House dates
back two centuries, and has
been meticulously restored as
a museum and community cen-
tre. The work has been driven
by Peter MacClean (a retired
British helicopter pilot who
looks every bit the part of a
Methodist minister) and his wife
Pat (who sold land on Eleuthera
in the 1950s for Sir Sidney
Oakes). A foundation, led by
Chandra Sands, has raised over
half a million dollars to support
the project.

Plans to operate this two-
storey frame house on the
waterfront are now being draft-
ed with the help of the Antiq-
uities Corporation. The Mission
has seen a lot of history in its
time, and among the items fea-
tured in its museum will be
obsolete medical equipment.
That's because in 1942 the
building became a clinic, cour-
tesy of American industrialist
Arthur Vining Davis.

Davis was chairman of
Alcoa, the world's biggest pro-
ducer of aluminium. He was
also one of the famous “three
tycoons” who triple-handedly
created Eleuthera's 20th centu-
ry economy. The other two
were a New England clothmak-
er named Austin Levy, and Pan
American Airways founder
Juan Trippe.

Looking to avoid taxes and
enjoy warm winters, these three
were part of a wave of wealthy
migrants who swept into the
islands from the 1930s onward.
They included mining million-
aire Sir Harry Oakes who built
Nassau's first airport, and Cana-
dian beer baron E P Taylor,
who developed Lyford Cay.

In fact, the flow of money
was so great that the Royal
Bank of Canada was moved to
set up a trust company (later
known as RoyWest) that pio-
neered tax shelters, with Arthur
Vining Davis as its first presi-
dent. After Davis retired from
active management of Alcoa in
the late 1940s, he became a land
developer. And before his death
in 1962, he had acquired some
30,000 acres on Eleuthera.

With fond memories of the
Bahamas from his honeymoon,
Austin Levy set up a dairy and
poultry farm in 1936 on thou-
sands of acres at Hatchet Bay.
He took the place of a group of
retired British officers who had
started the original Hatchet Bay
Company a decade earlier with
the idea of quarrying limestone
building blocks. It was this com-
pany that cut the channel from
the sea to an inland lagoon, cre-
ating Hatchet Bay's hurricane-
proof harbour.

Levy imported cattle from
his Sherman Stock Farm in
Massachusetts and supplied
milk, eggs and ice cream to the
Nassau market for decades.
Even after he died in 1951, his
plantation continued to employ
hundreds and provided much
of the infrastructure for near-
by Alice Town. In addition to
agricultural facilities, the oper-
ation featured restaurants,
stores, a yacht club and a power
plant.

But Hatchet Bay Farm was
taken over by the government
in 1975 for political reasons.
And it's much-lamented closure
nine years later will forever be
associated with former prime
minister Sir Lynden Pindling's
gloating remark that state own-
ership had made the farm "the
greatest success story in
Bahamian agricultural history."

Meanwhile, Davis had devel-
oped his own employment-gen-
erating Three Tree Farm at
Rock Sound, as well as a sec-
ond home estate for the wealthy
called the Rock Sound Club. In
1952 he wanted to build a 300-
_room hotel at Half Sound, but
the government turned him
down. So he sold out to airline
pioneer Juan Trippe, who set
himself up in Davis' former
estate.

Perhaps more than anyone,
Trippe was responsible for the
development of the commercial
airline industry in the 1950s and
60s. And it was Trippe who
transformed South Eleuthera



LARRY SMITH

into a destination of choice for
the glitterati of North America
and Europe.

As a young man he set up
an air taxi service for well-
heeled New Yorkers, before
moving to Florida to launch Pan
American Airways. Pan Am
began flying from Key West to
Havana in 1927 and from Mia-
mi to Nassau in 1929. Trippe
went on to persuade aircraft
makers to build large passen-
ger jets to bring the cost of air
travel down. And he was instru-
mental in Boeing's decision to
develop the 747 jumbo jet in
the mid-60s.

Airlift

At: taking over
Davis' holdings on

South Eleuthera, Trippe built
the Cotton Bay Club in 1959 as
a private "cottage colony" for
his wealthy friends. He also
expanded the Rock Sound air-
port so Pan Am jets from New
York and Miami could fly in
daily — the most notable
achievement in airlift to an out
island in Bahamian history. In
fact, the Rock Sound airport
had US pre-clearance privileges
even before Grand Bahama.
In 1970 Trippe acquired sev-
eral thousands acres at Powell
Point, some 15 miles from Rock
Sound, for a new resort in part-
nership with a big Florida land
company called GAC Proper-
ties. The $35 million Cape
Eleuthera Resort would be
focused around a marina
dredged from a salt pond, and
included a clubhouse, villas, golf

course, airstrip and hundreds of
fully serviced homesites start-
ing at $8,000. It opened in 1973
amid much fanfare.

‘At the time, GAC chairman
S Haywood Wills said Cape
Eleuthera was "the most
thoughtfully planned resort
community of its kind." As evi-
dence, he noted that a third of
the development would be
"parkland" while insecticides
and weed killers would be
sprayed on the golf course "with
great care".

The resort sponsored a mas-
sive clean-up of nearby settle-
ments. Hundreds of gallons of
paint were distributed to resi-
dents who went on a decorating
frenzy, and government bigwigs
were on hand to declare a pub-
lic holiday.

But the excitement was
short-lived. Within five. years
the resort was $140 million in
debt. Hardly any homes had
been built, and there were
reports that the Pindling gov-
ernment was putting the screws
on the owners. The demise of
Cape Eleuthera marked the end
of an era.

Trippe died in 1981 and the
resort passed to a Saudi devel-
oper named Abdul Bougary
who ran it half-heartedly for
two years before shutting it
down. Cotton Bay also went on
the chopping block. The gov-
ernment closed Hatchet Bay in
1984, and Winding Bay went
out of business soon after.
Things were so bad that the
opposition called for South
Eleuthera to be declared a dis-
aster area.

After years of negotiation a
Michigan company called

#46 Collins Ave.

Same building as Multi Auto Parts opp: K.S Moses

With the Compliments of

A Its LiMiTED

ARTISTRY.OF FLOWERS

4
“ayaa”

Wendy's has put a fresh
NEW twist on a biscuit





Landquest International
stepped in to buy the Cape
property for $10 million. Owned
by the DeVos family, founders
of the multi-billion-dollar
Amway Corporation,
Landquest had developed a
shore facility for passing cruise
ships near Bannerman Town
and was interested in reviving
the Cape.

But the company's original
plan called for a high-rise hotel
and casino, which proved
impossible to achieve. The
agreement was cancelled by the
government in 1996 amid com-
plaints from the developers that
all pieces of the puzzle were not
in place. Those pieces included
major infrastructure works like

cide with new era of prosperity?

roads, airlift, phones and power
supply.

So the Cape remained
derelict until 2004 when a new
heads of agreement was
finalised and construction final-
ly got underway on a scaled
down version almost identical
to Trippe's original concept —
villas, marina, homesites, golfing
and a small inn. Tough Call
enjoyed a relaxing stay there a
week or so ago, recalling visits
of 30 years ago as a writer for
the Bahamas News Bureau, but
there have been only 90 paying
guests so far.

Investment

he marina has been
completely rebuilt, with
room for 200 slips and facilities
for mega yachts, and there are
plans to restore the golf course
and re-open the airstrip. A
dozen or so new villas line the
marina and phone, Internet and
cable TV service are about to
be installed. The total invest-
ment so far is put at $85 mil-
lion.
Trippe's other holdings on
South Eleuthera were eventu-
ally acquired by a company

headed by Nassau businessman ®’





Franklyn Wilson. In the 1990s
this group sold the Rock Sound
Club to a Colombian billionaire
banker named Luis Carlos
Sarmiento. He uses the resort as
his private hideaway but refus-
es to restore the property —
much to the chagrin of the
remaining wealthy homeown-
ers.
Meanwhile, Wilson is devel-
oping a new 200-acre Cotton
Bay Club with the usual villas,
homesites, golf course and mari-
na. A 26,000-square-foot club-
house was slated to open last
year, but is still only 70 per cent
complete. Wilson says his com-
pany is moving at a pace that it
considers prudent in view of US
economic trends.

Eleuthera is where the
Bahamas began some five cen-
turies ago. And the Mission
House at Rock Sound has lived
through two centuries of that
history. It remains to be seen
whether its repurposing as a
museum and community centre
will coincide with the beginning
of a new era of prosperity.



What do you think? Send
comments to larry@tribuneme-
dia.net

Or visit www.bahamapun-
dit.com

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PAGE 12, WEDNESDAY, FEBRUARY 20, 2008

THE TRIBUNE



ie ey ee
Hospital’s ‘perpetual
volunteer’ Mary Profilo
receives recognition



Andrew Aitken

PHOTO

R E BARNES, chairman of the Sir Victor Sassoon (Bahamas) Heart Foundation presents the 2007 Lady
Sassoon Golden Heart Award to Mary Profilo at the 44th Annual Heart Ball on February 16, 2008...

MARY Profilo, a “perpetu-
al volunteer” of the Princess
Margaret Hospital Yellow-
birds, was presented with the
Lady Sassoon Golden Heart
Award at the 44th Annual
Heart Ball held on February
16, in the Crown Ballroom at
Atlantis.

Announcing the awardee,
R E Barnes, chairman of the
Sir Victor Sassoon Bahamas
Heart Foundation, said that
Mrs Profilo has “distin-
guished” herself over four
decades of giving to her adopt-
ed home of the Bahamas.

“Whether she is decorating
the hospital wards at Christ-
mas time or giving out Easter
baskets to the patients at
Princess Margaret Hospital,
Mary always seems to be will-
ing to lend a hand.

“She has worked for years
in the gift shop at the hospital.
There, she has often stayed
late to keep the shop avail-
able for patients when no one
could be found to keep it
open,” he said.

The Golden Heart Award,
added Mr Barnes, “is the peo-
pie’s award for community
service, and Mrs Profilo has
given of herself gladly to make
life easier for those who need
a friend while recovering from
serious illnesses in Princess
Margaret Hospital.”

Mrs-Profilo arrived in the
Bahamas from Glasgow, Scot-
land, in 1970 to visit her sister
who was living here at the
time.

That “holiday” turned into a

lifetime commitment to the
people of the Bahamas.

She worked for a period for
International Air Bahamas,
but while there, she found she
had time on her hands, and in
1976 she joined the Yellow-
birds at Princess Margaret
Hospital where she worked in
the children’s ward.

“She loved being there with
the children and was very
close to a number of the

Lady Sassoon Golden
Heart Award presented
at 44th Annual Heart Ball



young patients,” said Mr
Barnes.

“For years, Mrs Profilo vol-
unteered to push a cart
through the halls of the hos-
pital, selling items, to make
the hospital stay of patients a
little less difficult. The money
from these efforts helped buy
much needed equipment for
the hospital.”

Accepting the award, Mrs
Profilo said it is her mother,
Annie Sinclair, who believes
that it is better to give than to
receive, who inspires her.

“In fact,” said Mrs Profilo,
“at age 81 my mother is still
volunteering in Scotland.”

Thanking the Heart Foun-
dation, Mrs Profilo said she
also wished to thank her many
friends in the Yellowbirds and
at Queen’s College, and also
her husband and son who she
often got to join her in her
volunteer activities. In fact,
she quipped, her son calls her
a perpetual volunteer.

It would seem that her
mother has proven to be a real
inspiration to Mrs Profilo, as
she herself is always willing to
lend a hand.

She volunteered to cata-
logue the books of the
Bahamas School of Nursing
library and she helped at the
Montessori School, Tambear-
ly School and Queen’s Col-
lege.

Further, she and her friend
Sylvia Scriven, a former mem-
ber of parliament, ran a soup
kitchen on Kemp Road for
many years, “feeding many
who needed a meal in tough
times.”

She also volunteered at the
Bahamas Humane Society.

“Over the years,” said Mr

Barnes, “Mary has built up a
network of sources who have
helped to supply the hospital
gift shop with low cost items
to help keep expenses down.
She has also created a net-
work of volunteers who help
out at the hospital. She has
inspired others to be of help
when assistance is needed.

“Much like her mother, she
has become an inspiration her-
self.

“As one of her many friends
said, ‘Mary demonstrates a
unique ability to serve in any
capacity, whether it be assist-
ing with major fund raising
efforts, or helping with recruit-
ing persons to assist her.’

“Time and payment do not
matter.

“Tf there is a need, she vol-
unteers her support.

“Mary Profilo truly has a
golden heart for service to her
community” said Mr Barnes
as he presented her with the
2007 Golden Heart Award.

The Heart Ball is the major
fundraiser for the Heart Foun-
dation, which provides finan-
cial support to children and
young adults with heart dis-
ease.
The Lady Sassoon Golden
Heart Award is so named in
honour of the late Lady Sas-
soon who established the
foundation in memory of her
husband. Presented at the
Annual Heart Ball, it is given
in recognition of exemplary
community service.

The 2006 award was pre-
sented last year to Francis
Ledee, a retired social worker
and present administrator of
the Persis Rodgers Home for
the Aged.

Author Terry McMillan

visits Grand Bahama





BEST-SELLING author Terry McMillan of
“Waiting to Exhale” and “How Stella Got Her
Groove Back” visited Grand Bahama over the
weekend as part of the new annual tourism
event“Island Heart Beats Experience.”

The event — founded by Nicole Scott of the
Florida-based Turquoise Water Productions — is
designed to encourage African-American women
to “take their heart on vacation” by getting away
on an island retreat. The event is scheduled to
overlap with Valentine’s Day cach year.

Activities over the long weekend included
workshops, exercise, sight-seeing and entertain-
ment — “all allowing for an enriching, empowering
and enlightening experience,” event coordinators

said.

The Ministry of Tourism, along with Bacardi
and the Ferry House Restaurant co-hosted a wel-
come reception at the Martini Bar on Friday,
February 15, to meet and greet the attendees of
the first event.

Organisers chose Grand Bahama as a destina-
tion because they feel the Bahamas holds a strong
connection to their culture and heritage.

Due to the proximity to the US, it is also easy
for American visitors to travel to the island,

The organisers said that Grand Bahama has
“all the rejuvenating qualities for a restful, relax-
ing and rewarding vacation experience”, which
makes them look forward to the Island Heart
Beats Experience 2009.

oy







WEDNESDAY,FEBRUARY

SECTION B ittitccnCleulaiiattacre meta

St Georges make ‘open
offer’ to settle Port row

@ By NEIL HARTNELL
Tribune Business Editor

he late Edward St

George’s estate

last night said it

had made “an

open offer” to
the Hayward family and all
related companies to settle the
Grand Bahama Port Authori-
ty (GBPA) ownership dispute,
the Supreme Court having
directed all parties to meet on
March 11, 2008, to attempt to
resolve it.

Fred Smith, the estate’s
attorney and a Callender’s &
Co partner, said his clients had
written to Sir Jack, the Hay-
ward family, and the various
companies involved in the
ownership structure - Fiducia-
ry Management Services
(FMS) and Intercontinental
Diversified Corporation (IDC)
- setting out proposed terms

for resolving the 16-month
fight.

Mr Smith told The Tribune
that among the critical pro-
posed terms were that the St
George estate be recognised
as a 50 per cent shareholder in
the GBPA and Port Group
Ltd, meaning that Sir Jack
would have to drop his claim to
75 per cent ownership - the
issue that prompted the rift
between the two parties.

In addition, the estate is
proposing that:

* The GBPA and Port
Group shares be registered in
the names of the estate and the
Hayward family. * That all
legal actions and appeals be
settled.

* That the receivers, BDO
Mann Judd accountants Myles
and Clifford Culmer, be
removed.

* That the Hayward family
and St George estate be

allowed to sell their 50 per cent
stakes to any bona fide third-
party purchaser, “as long as
they are legitimate, receive all
government approvals, and it is
a transparent transaction”.
The Hayward family is
understood to have agreed in
principle to sell its 50 per cent
stake to Fleming Family &
Partners, the wealth manage-
ment and private equity firm.

Mr Smith added that the St
George estate was willing to
“enter into a shareholders’
agreement to provide for equal
representation” of its side and
the Haywards’ on the GBPA,
Port Group and IDC Boards,
and those of their subsidiaries.

The estate is also proposing
that a “mutually acceptable”
chief executive be appointed
to run the Port Group of Com-
panies, and Mr Smith added:
“The agreement will also pro-

vide for some sort of tie-break-
er in the event of deadlock on
the Board, and shareholder
protection provisions.”

He told The Tribune: “We
beg, we implore Sir Jack and
the defendant companies to
approach the offer to settle in
good faith, and we hope the
Government will support our
settlement initiative, which has
been motivated by Justice Ani-
ta Allen’s continuing encour-
agement to settle.”

Mr Smith said Justice Allen
had again last week encour-
aged the parties in the Port
ownership dispute, which has
been particularly ruinous for
a Freeport economy still strug-
gling to recover from the 2004
hurricane. season, to settle.

Justice Allen had directed
that all parties meet on March

SEE page 5B

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$1.5m provision

reversal accounts
for FINCO’s 2007
income increase

@ By NEIL HARTNELL
Tribune Business Editor

A $1.5 million reversal of
general loan loss provisions
was critical to Finance Corpo-
ration of the Bahamas (FIN-
CO) 5.3 per cent net income
rise for 2007, as the mortgage
lender’s profit performance
would have been flat without

it.

FINCO’s annual report for
the year to October 31, 2007,
showed that the Royal Bank
of Canada subsidiary earned a
net $1.086 million from revers-
ing its credit loss provisions last
year, a sum that slightly
exceeds the difference between
2007’s net income of $21.355
million and the previous year’s
$20.274 million.

Acknowledging that the

* Profits flat without
loan loss change,
as accounting treatment
change for mortgage
commitment fees
sees lender revise
previous earnings

* Company targets 50%

- reduction in time
between mortgage
commitment and
funds’ release

* Sets up own life and
home insurance agency

SEE page 6B



Baha Mar:

@ By NEIL HARTNELL
Tribune Business Editor

BAHA MAR &
has obtained tax
incentives from the F
Government that
are “comparable.| ~
to Atlantis”, a |



Incentives ‘comparable to Atlantis’

* Developer says ‘vision still intact’ for $2.6bn project, despite

altered land deals and government refusal on extra concessions
* Revised land transactions and subsequent lease
appear to aid SuperClubs Breezes

senior executive
with the company
said yesterday, |
adding that the |
$2.6 billion devel- fa » Ha
opment’s reduced JR INEER
land mass and fail-
ure to obtain addi-
tional concessions would not impact its
execution. :

Robert Sands, Baha Mar’s senior
vice-president for administration and
external affairs, told The Tribune that
~ through the Hotels Encouragement Act
and other statutory legislation, the
developers would receive tax breaks

Uf

Europe trade deal
‘a great baseline’



and incentives in line with those
obtained by Kerzner International for
its Atlantis project on Paradise Island.

Mr Sands said the tax incentives were
comparable for both Baha Mar’s hotel
and casino components, “particularly
with respect to the casino”.

Given that the Hotels Encourage-
ment Act agreement signed between
Kerzner International and the Gov-
ernment for the Phase III project at
Atlantis provided for tax breaks worth
$460.8 million, according to informa-
tion tabled in the House of Assembly
by Prime Minister Hubert Ingraham,
and that Baha Mar’s project is more

than double that development’s $1 bil-
lion value, it is possible to extrapolate
that the Cable Beach project could see
tax breaks worth up to $1 million.

Speaking ahead of last night’s Town
Meeting on the Baha Mar project, Mr
Sands said the Prime Minister had
alluded to the likely start date for work
on the West Bay Street re-routing dur-
ing his House of Assembly presenta-
tion.

He added yesterday that “some work
will take place around April 2008”.

Although the main contractor for the
West Bay Street re-routing had yet to
be selected, Mr Sands said Baha Mar

Joint Venture Company - the joint ven-
ture between Baha Mar and Harrah’s
Entertainment - was finalising all the
necessary permits and approvals with
the Ministry of Works and other gov-
ernment agencies.

“We've already said that the road-
works and the Commercial Village will
have an aggregate expenditure of $150
million,” Mr Sands said.

“Some $90-$100 million of that will
be on the roads and infrastructure, and
$50 million on infrastructure and the

SEE page 7B

@ By NEIL HARTNELL
Tribune Business Editor

THE Bahamas can buy time
by making the legislative
changes necessary to prepare

the economy for entering -

much tougher rules-based trad-
ing regimes now if it signs on to
the Economic Partnership

Agreement (EPA) with the
European Union (EU) now,
the Chamber of Commerce’s.
leading trade adviser told The
Tribune yesterday.

Hank Ferguson said the
EPA was “the most flexible”

SEE page 8B

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PAGE 2B, WEDNESDAY, FEBRUARY 20, 2008

THE TRIBUNE





ombating the causes
behind internal theft

IS CRIME out of control,
or are we able to manage this
problem? As mentioned a
few weeks ago, we have seen

a major upsurge in the
amount of criminal activity.
The police really have their
hands full.

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But is crime solely a police
problem? Take, for example,
the repair man, be he a
plumber or mechanic. Is the

fact that your septic tank has
backed up or your car is
unable to start really the
problem of the fix-it-guy?

RELATIONSHIP MANAGER -

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A reputable financial institution headquartered in Bermuda, with offices in
The Bahamas, Barbados, the Cayman Idands, Guernsey, Switzerland, Hong
Kong, Malta and the United Kingdom, Butterfield Rivate Bank offers a wide
range of servicesto local and international dients.

An exciting opportunity currently exists for a results oriented self starter with
a record of professional achievements to join a dynamic Trust’ & Corporate

Services team.

Core Respongbilities

Manage a large portfolio of complex accounts including trust, estates

and agencies,

Rrovide financial information to dients as requested.

Act on clients’ behalf in mattersdealing with lawyers, beneficiaries, etc.

Extendve experience with all aspects of trust administration.

Dedired Qualifications

Bachelor's Degree in Business or related discipline from a well recognized

university.

A minimum of five years progresave Fiduciary experience in the Financial

Services Industry.

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Srong interpersonal, communication, problem solving, project
management and customer service «kills

dosing Date: February 27, 2008

Contact
Human Resources

Butterfield Bank (Bahamas) Limited

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Fax: (242) 393 3772

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KOM Titel Lela ag



Life. Money. Balance both:

When we consider this in the
context of crimie, the issue
may have been transferred to
the police, but it is really our
problem. So, what are we
going to do? There are many
suggested solutions, primarily
focused on the concept of
harsher penalties, more
police and ‘swift justice'. The
public calls for longer sen-
tences and hangings.

These remedies, I feel,
come after the rape or mur-
der has occurred, and are
similar to using a bigger mop
to soak up the spill. Our
focus should not be on reac-
tive remedies but, rather,
preventative measures.

Phillip Purpura, in his book
Security and Loss Prevention,
says: “In many businesses, so
many people are stealing that
those who do not steal are
the deviants and outcast.
Theft becomes normal and
honest becomes abnormal.”

What makes people steal is
the question in this edition,
and we will attempt to unrav-
el the answer, as it is key to
managing the problem. The
old adage: ‘Walking in one’s
shoes to see how they think’

is essential if companies want —

to reduce loss via this avenue.

Aside from crime statistics
provided by the Royal
Bahamas Police Force, and
studies done by other groups
such as the Coalition of Pri-
vate Sector Organisations,
there is very little document-
ed information about
employee theft in the
Bahamas.

Psychologists, sociologists
and criminologists have
struggled for years to under-
stand and describe the moti-
vations of dishonest individu-
als. These disciplines have
provided numerous studies in
an effort to identify personal-
ity traits and characteristics
most frequently associated
with theft or fraud. They
have also attempted to iden-
tify social forces and environ-
mental factors that contribute
to, or might explain, why cer-
tain individuals are dishonest
and others are not. Only
recently have these studies
been directed at white collar
crime, as the focus had been
on violent crimes such as
rapes, murders and bank rob-
beries.

This all changed in the ear-
ly 1980s, when researchers
from the University of Min-
nesota, John Clark and .
Richard Hollinger, published
the results of an extensive
three-year study they con-
ducted on employee theft.
This landmark study identi-
fied five characteristics to
explain the phenomenon of
employee theft:

1. External Economic

Pressures

Prior to this study, the most
frequent explanation of
employee theft was that
employees stole from their
employers because they had
a personal problem involving
alcohol, gambling, illicit
affairs or similar situations.

This-position asserts that
"when economic pressures
become great, people may
turn to illegitimate means to
achieve socially acceptable
goals”. Clark and Hollinger
observed that the connec-
tions between the nature of
economic needs, and the
manner in which the stolen
materials satisfy those needs,
had not yet been established.

2. Youth and Work

Another commonly-
expressed theory stated that
younger employees are sim-
ply not as honest or hard-
working as previous genera-
tions. Cited were two studies
of retail employees caught in
the act of stealing merchan-
dise. Both studies indicated a
disproportionate number of
younger, newly-hired
employees were involved in
theft. However, no clear and
convincing evidence existed
to confirm this theory.

3. Opportunity

The opportunity to steal
items of value was considered
one of the primary factors in
employee theft by security



Safe &.

Secure
Ck

practitioners. It was generally
held that every employee is
tempted to steal from his
employer at one time or
another during their career,
based on the opportunity to
steal. This theory was also
never empirically studied
until Clark and Hollinger's
research in 1983.

4. Job Dissatisfaction

The idea that there is a
cause and effect between job
dissatisfaction and employee
theft had not been included
in most studies until Clark
and Hollinger. The theory
suggests that the organisation
from which employees steal
may influence such theft
because management, direct-
ly or indirectly, is responsible
for job dissatisfaction, based
on the perceptions of their.
employees.

5. Social Control

The social control theory
suggests that the broadly-
shared formal and informal
social structure within a com-
pany greatly influences
whether theft persists or not.
Although not empirically
tested until Clark and
Hollinger's study, it empha-
sised the role individual work
group norms played in deter-
ring workplace theft.

In addition, there was evi-
dence in existing studies that
theorised a relationship
between supervisors/manage-
ment, personnel and employ-
ees in deterring or encourag-
ing theft behaviour. Both the-
ories are similar to the deter-
rence doctrine, which
assumes the threat of nega-
tive social sanctions from the
company or criminal law can
affect the amount of theft in
the company. In essence,
employees will be more likely
to steal if they perceive the
threat of detection and/or
punishment for this behav-
iour is weak or non-existent.

Regardless, the two prima-
ry objectives here are to
reduce the level of theft and
fraud in the workplace. Thus
the company must be clear
on identifying and uniformly
sanctioning unacceptable
behaviour, then penalising
persons for infractions. As a
result, regulations regarding
theft by employees must be
clear and frequently reiterat-
ed to ensure prohibitions
regarding such activity are
understood by all employees.

In my opinion, the message
concerning loss prevention
and penalties resulting from
such action is lost - or even
neglected - during pre-
employment orientations for
new staff, and never again
addressed until someone is
actually caught stealing.
Companies cannot rely solely
on negative sanctions from
society to apply to the work-
place. Individual sanctions
within the company are
important to help mold the
culture and ensure certain
expectations are clear.

Enforcing sanctions must
also be uniform. It takes only
one incident in which man-
agement is given preferential
treatment to undermine the
entire policy. Negative sanc-
tions for theft must apply to
everyone in order to be effec-
tive, and management must
be prepared to uniformly dis-
pense company discipline.

NB: Gamal Newry is the
president of Preventative
Measures, a loss prevention
and asset protection training
and consulting company, spe-
cialising in policy and proce-
dure development, business
security reviews and audits,
and emergency and crisis
management.

Comments can be sent to
P.O. Box N-3154 Nassau,
Bahamas, or e-myil
gnewry@preventativemea-
sures.net.com or WWW.pre-
ventativemeasuresnet



THE TRIBUNE

WEDNESDAY, FEBRUARY 20, 2008, PAGE 3B



LS of Tr

Hotel incentives process revise

d amid

government fears on revenue losses

PRIME MINISTER Hubert Ingraham speaks in the House of Assembly



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Sheffield Hallam University, University
of Teesside and University of Wales

Recruiting Now
for the April 2008 intake

Oj
Peae apy

ee

Info@rdicaribbean. com
1 (703) 549 5424

@ By CARA BRENNEN-
BETHEL
Tribune Business Reporter

THE government has put in
place new policies to govern the
implementation of the Hotels
Encouragement Act, the Prime
Minister saying it feared it had
lost revenue by granting conces-
sions prior to an agreement with
developers being concluded.

“We have now put in place
new policies governing the
implementation of the Hotels
Encouragement Act, and all
affected government depart-
ments and agencies have been
advised that concessions under
the Act are not accessible until
such time as an agreement has
been concluded between the
Government and the resort own-
er or operator as appropriate,”
the Prime Minister told the
House of Assembly.

He added that in the past, a
practice evolved whereby appli-
cations for the grant of conces-
sions for the construction and
outfit, or the refurbishment and

upgrade, of hotels and resorts in #

the Bahamas under the Hotels
Encouragement Act were
approved in principle by the
National Economic Council

(NEC). This is really the Cabi- —

net.

Subsequently, he explained
that customs, stamp duty, real
property tax and other exemp-
tions were approved by the min-
ister charged with responsibility
for implementing the Hotels

‘ Encouragement Act, who would

set the terms and duration of
exemptions.

“Once the minister had made
his/her determination on the
concessions and waivers, this
decision was conveyed via let-
ter to appropriate offices - the
Customs Department and the
Valuation Unit of the Ministry
of Finance,” Mr Ingraham
explained.

This meant, he said, that own-
ers, developers and operators of
resorts in the Bahamas have
been able to access concessions
under the Hotels Encourage-

BAHA MAR

ment Act prior to the formal
execution of an peLceicnt under
the Act.

“While this practice has assist-
ed in expediting the start-up date
of projects, it has also permitted
a slippage in control, sometimes

to the detriment of the collec-
tion of Government revenue,’
the Prime Minister said.

Mr Ingraham’s comments
came as he tabled some 19
Heads of Agreements concluded
by his administration.

BAHAMAS SOCIETY OF ENGINEERS

www. bahamasengineers.org

NOTICE

THE BAHAMAS SOCIETY OF ENGINEERS
CORDIALLY INVITES YOU TO ATTEND

THE ee LUNCHEON
Thursday, Ben raiy 21, 2008

GUEST SPEAKERS:
Lelawatte Manoo-Rahming BSc.,MSc.,CEng,MIMechE MCIBSE
Hammond Rahming BSc.,PE.
Michael Diggiss B Arch, PMP, MBA

Topic:

The Impact of Foreign Direct Investment on The
Development of The Bahamas-Challenges and
Opportunities for Bahamian
Professionals of The Built Environment.

Place:

East Villa Restaurant
East Bay Street
TIME: 12:00p.m.
Donation: $25.00 per person
IF POSSIBLE PLEASE CONFIRM YOUR ATTENDANCE BY E-MAIL
gracesharma05@yahoo.com

jeelliott@bahamaselectricity.com
or by TEL: 302-1215

NASSAU, BAHAMAS



Career Opportunity

Baha Mar Development Company Ltd. seeks to hire a
Landscape Superintendent

The successful applicant should possess the following qualifications:

¢ Ability to read and revise landscape plans.

¢ Ability to operate a backhoe, excavator, grader, and a

front-loader.

¢ Knowledge of proper installation of all commercial irrigation

systems.

« Experience in the planting or installation of palms, trees,

shrubs and sod.

¢ Extensive knowledge of transplanting palms and trees.

¢ Ability to supervise and give direction to construction

personnel,

¢ Knowledge of golf course landscaping and maintenance.

* Computer experience in landscaping design Is a necessity.

Exceptional communication skills, leadership qualities, self discipline
and the initiative to grow and learn are also essential.

Please

forward curriculum

vitae with

salary requirements via

e-mail to the Human Resources Manager at hr@bahamar.com or fax to:
(242) 677-9100 no later than February 27, 2008. All responses will be
held in the strictest confidence





PAGE 4B, WEDNESDAY, FEBRUARY 20, 2008



THE TRIBUNE

\

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LSromnny

\ 2



“Every day I look forward to reading The Tribune.
It always provides valuable information and something
to talk about like local news, sports, entertainment
and world news. The Tribune provides everything
I need to know about life in The Bahamas and
internationally. The Tribune is my newspaper.”

JASON RAHMING
CONSTRUCTION FOREMAN





THE TRIBUNE

WEDNESDAY, FEBRUARY 20, 2008, PAGE 5B



Former minister raises Norman’s C

m@ By CARA BRENNEN-
BETHEL
Tribune Business Reporter

A FORMER Exuma MP
yesterday raised concerns
regarding the proposed Aman
Resort project for Norman’s
Cay, saying that any investment
on the “island jewel” needed
to be environmentally sensitive
and appropriate for its size.

George Smith told Tribune
Business he had no objections
to the proposed Aman Resort,
noting its projected economic
impact and employment impli-
cations. But he said he has
grave concerns when it came
to the construction of the pro-
posed golf course, the size of
the development’s properties
and the area’s water life, as it
was one of the few areas where
baby conch are born.

He also strongly felt that the
Treasury needed to retain more
of the island’s land for future
use by Bahamians.

Mr Smith has long agitated

for Norman’s Cay, with respect
to the 400 acres that is held by
the ‘Treasury, and has encour-
aged both the former PLP and
current FNM governments to
retain ownership of the airstrip
unit, a “reasonable percentage
of the Whale’s Tail on Unit 5”,
and recommended that 15 lots
in Unit Three be reserved for
the use of or sale to Bahami-
ans.

He said that it was ill-advised
to agree to make all the Gov-
ernment’s acreage available to
one investment group.

“As a former MP and some-
one who loves Exuma as one
of the most beautiful places in
the world, it is important that
we preserve it for future use,”
he said. —

Mr Smith pointed out that
the area surrounding Norman’s
Cay was one of the few breed-
ing grounds for conch, and said
there should be some designa-
tion of it as a land and sea park.

He added that no govern-
ment should approve any

St Georges make ‘open

11, 2008, in a courtroom spe-
cially assigned for this purpose,
to “settle the case”. Among
those directed to attend were
the estate’s three executors -
Lady Henrietta, Chris Caffer-
ata and Lord Euston - Sir Jack,
ousted GBPA chairman
Hannes Babak, and the own-
ership companies and their
directors and officers. All were
to be accompanied by their
attorneys.

Mr Smith said further terms
proposed by the St George
estate involved them “sacrific-
ing any claim for costs” in rela-
tion to the oppression action
against Sir Jack and Mr Babak,
although they still wanted to
cover costs from the owner-
ship action in accordance with
the court order.

“The costs of the receivers
are to be shared equally, and
they are to leave as soon as an
agreement is signed,” Mr
Smith said. “In addition, the
various homes owned by the
Hayward and St Georges in
the companies’ name should

be transferred to their names.”

However, a copy of the set-
tlement offer, which has been
seen by The Tribune, does not
envision any way back for Mr
Babak.

It said: “Mr Babak is to have
no role to play in any of the
companies at any time in the
future. The estate adopts the
position that Mr Babak is not
entitled to any compensation
in respect of his alleged claims
against the companies. If a set-
tlement with Mr Babak can-
not be reached, the estate pro-
poses to continue its present
action against him.”

The letter added: “The
estate believes that the above
principles could, if adopted in a
spirit of fairness and compro-
mise, provide a fair and work-
able solution to the ongoing
dispute. In that spirit of com-
promise, and on the basis that
any third party interested in
purchasing the Hayward inter-
est is prepared freely to come
into the companies recognis-
ing the estate’s position and

development that was high den-
sity in scope, or that would be
used to accommodate a large
number of people.

“T would like to see hotel
chains in Exuma, but not at the
expense of the environment,”
Mr Smith said, adding that the
ideal development would not
exceed 70 units and be mainly
comprised of residential estate
lots.

He also expressed his disap-
pointment that the developers
behind the project - the Miamia
and New York-based Setai
Group - apparently did not ask
any Exumians to be involved
in. the development process

Mr Smith explained that Nor-
man’s Cay was divided into five
units, with units 4 and 5 belong-
ing to the Public Treasury.
Units one and two, he said,
belonged to residents, the
fourth unit contained the
airstrip space, and space in unit
three should be designated for
Bahamians.

Prime Minister Hubert Ingra-

rights, the Estate is prepared to
sacrifice its other claims in the
interests of such resolution.

“Otherwise, the estate will
have no choice but for the liti-
gation to be continued and will
conclude that the parties’ dif-
ferences remain itreconcilable,
and that the only way in which
its interests can be protected
is for it to acquire all of the
shares in the companies.”

Mr Smith, though, told The
Tribune that the St George
estate was “acutely sensitive
to the need to settle... We
believe this situation should
not continue. It is not in the
interests of the parties or the
public”.

He added that the estate did
not want to see Mr St George’s
life’s work “go up in flames or
have been in vain”.

In the offer letter, Mr Smith
wrote on behalf of the St
George estate: “Mr St George
spent the greater part of his
professional life working for
the benefit of the Grand
Bahama Port Authority, its

CFA Society of The Bahamas

MONTHLY SPEAKER EVENT

2007/2008 Officers & Directors

President

Kristina M. Fox, CFA

CIT Holdings Ltd

PO Box SS-19140, Nassau, Bahamas
Ph: (242) 363 1501 Fax: (242) 363 1502

Email: kf@cit.co.uk

Vice-President

David Ramirez, CFA

Pictet Bank & Trust Ltd.

PO Box N-4873, Nassau Bahamas

Ph: (242) 302 2217 Fax: (242) 327 6610
Email:dramirez(@pictet.com

Treasurer

Christopher Dorsett, CFA

Citigroup Corporate & Investment Bank
PO Box N 8158, Nassau, Bahamas

Ph: (242) 302 8668 Fax: (242) 302 8569

Email: Christopher.a.dorsett(@citigroup.com

Secretary

Sonia Beneby, CFA

ScotiaTrust

PO Box N 3016, Nassau, Bahamas

Ph: (242) 502 5700 Fax: (242) 326 0991
Email: sonia.beneby@scotiatrust.com

Programming

Karen Pinder, CFA

EFG Bank & Trust (Bahamas) Ltd.

PO Box SS 6289, Nassau, Bahamas

Ph: (242) 502 5400 Fax: (242) 502 5428
Email: karen.pinder(@efgbank.com

Education

Pamela Musgrove, CFA

Colina Financial Advisors, Ltd,

PO Box CB 12407, Nassau, Bahamas
Ph: (242) 502 7008 Fax: (242) 356 3677

Email: pmusgrove(@cfal.com

Warren Pustam, CFA, CPA
EverKey Global Partners

PO Box N-7776-518, Nassau Bahamas
Ph: (242) 362 3080

Email: warrenroverkeygiobai vom

Membership

Geneen Riviere

Pearl Investment Management Limited
PO Box N 4930, Nassau, Bahamas

Ph: (242) 502 8022 Fax: (242) 502 8008
Email

Past President

David Slater, CFA

KPMG

PO Box N-123, Nassau, Bahamas
Ph: (242) 393 2007

Email: dslatter@@kpmg.com.bs

ri

PROFESSIONAL
DEVELOPMENT

QUALIFIED ACTIVITY

“Options for Enhancing Returns"

Thursday, February 21", 2008

12:00 pm
12:30 pm Speaker
Please arrive promptly!

Location:
East Bay Street, Nassau

Speaker: Bud Haslett

Director: Option Analytics
Miller Tabak & Co., LLC

New York, NY

Members $25.00
Non-Members $35.00 °

General Meeting

Luciano’s of Chicago, Cagliari Room

(Please make cheque payable to: CFA Society of The

Bahamas)

Reservations:

PRE-REGISTRATION REQUIRED -

by Wednesday February 20th, 2008

Karen Pinder, CFA

karen.pinder@efgbank.com

*Prepayment required through one of the Board Members

Options for Enhancing Returns: This 45-minute presentation provides

information concerning the conservative use of option strategies. The presentation begins
with a brief overview of three strategies: protective puts, covered calls, and collars. It
includes a description of the marketplace for exchange traded options. A more detailed
discussion of covered call writing follows, including an examination of the 17-year track
record of the CBOE S&P 500 BuyWrite Index (BXM). Important considerations in
establishing and managing these positions are also reviewed.

Biography: Mr. Haslett is the director of option analytics for Miller Tabak + Co. in New
York City, USA. He is responsible for developing customized and standardized option
strategies for institutional clients and also works on special option-related projects for the
firm. He previously founded Write Capital Management, LLC, a derivatives-based
investment management firm managing more than $300 million in conservative option
strategies and spent two decades on the options trading floor, where he managed
portfolios of stocks and options. He has served on the Business Conduct Committee of the
Philadelphia Stock Exchange,as well as a member of the National Option Linkage

Committee.

Mr. Haslett is past president (2003-2004) of the CFA Society of Philadelphia and ts
Chairman of the Board of Regents for the Financial Analysts Seminar (2005 to

present). He is an active volunteer for CFA Institute, having served in a variety of
capacities including CFA exam grader and member of the Council of Examiners. He is a
CFA charterholder and also holds the Financial Risk Manager (FRM) certification. He
received graduate degrees from the University of Pennsylvania and Drexel University and
has served as an adjunct professor of derivatives at both Johns Hopkins University and

Rutgers University.



ham tabled the superseding
Heads of Agreement for the
Norman’s Cay development in
the House of Assembly on
Monday. He indicated that the
proposed $80 million develop-
ment will maximise Bahamian
construction, providing 700 jobs
during peak construction and
400 jobs upon completion of
the resort.

The Aman Resort on Nor-
man’s Cay will now have an
estimated project cost of US
$80 million, with the following
components:

* Hotel Lodge - 40 hotel
Bungalows; 28 residential villa
sites; Beach Club and Pool;
Spa, Fitness and Tennis Cen-
tres.

There will be an extension
and upgrade of the existing air-
port, with Customs, Immigra-
tion and Police facilities and
living accommodations for
those employees, plus a marina
and marina village, and staff
accommodations.

The developer will pay to the

offer’ to settle Port row

affiliated companies, Freeport
and our community here in
Grand Bahama as a whole.
“He, of all people, would
have been devastated by the

bitter legacy his death has.

caused in the companies he
worked so hard to benefit. It is
in his spirit that I am instructed
by my clients to send this open
offer, in the hope that this sad
and disruptive dispute will ve
brought to an end and the
companies and our community
will be able to move forward
once more.

“This offer is made without
abandoning the relief which
my clients seek in the various
actions.”

BAHA MAR

Treasurer $1 million for Free-
hold Lands, and 5 per cent of
the gross sales proceeds on res-
idential lots sold to third par-
ties.

The developer will also pro-
vide a bond of $40 million from
a bank, insurance or trust com-
pany licensed in the Bahamas,
which shall be forfeited if the
hotel component is not sub-
stantially completed within 48
months.

The Developer will surren-
der the 2002 lease, and the sum
of $50,000 paid thereunder shall
be applied towards the pur-
chase price for the freehold
lands.

The developer shall cause the
purchaser of any residential
unit located within the freehold
lands to pay to the Treasurer
an Occupancy Fee of $150,000
upon the substantial comple-
tion of the residence construct-

ay concern

ed, or the appropriate Stamp
Tax on the cost of the con-
struction of the home, whichev-
er is the greater sum.

Subject to the hotel being
constructed and operational,
the Government undertakes
not to approve any develop-
ment on its remaining 250 plus
acres of land at Norman’s Cay
that is incompatible with the
developer’s overall project con-
cept.

After the opening of the
hotel, the Government will
declare the airport a “customs
airport” and the Marina a “port
of entry”. The cost of main-
taining that status shall be for
the account of the developer.

There will be unfettered pub-
lic access to the airport and
marina, subject to standard
landing and berthing fees set
by the developer and approved
by the Government.

LEGAL NOTICE

NOTICE

WHATEVER LTD.

Pursuant to the provisions of Section 137
(8) of the International Business Companies
Act, 2000, the dissolution of WHATEVER
LTD., has been completed; a Certificate of
Dissolution has beenissued andthe Company
has therefore been struck off the Register. The
date of completion was January 25th, 2008.

Anthony B. Dupuch
Liquidator

NASSAU, BAHAMAS



CAREER OPPORTUNITY

Baha Mar Development Company Ltd. seeks to hire a

Project/Construction Manager

The Project/Construction Manager is responsible for planning, organizing, supervising
and coordinating the work of consultants, contractors and sub-trades as required
for various projects. They must ensure that the projects meet design, budget,
schedule and quality requirements.

The successful applicant will be responsible for:

e Ensuring the trade contractors are carrying out their work in accordance with
the Contract, including approved method statements and other approved
documents relating to Health & Safety, environmental issues and quality.
Facilitating the work of the contractors, so far as possible, by ensuring the
necessary logistic arrangements are set up and operating
Interfacing between contractors
Recording the progress of work and valuation
Carrying out inspections with the contractor to verify that work is in accordance
with the approved standards. Escort other parties, (Local Authority, Consultants,

Clients etc) as requested, to participate in iispections.

Conducting or participating in site meetings as requested and provide written

records.

Creating and executing project work plans and revises as appropriate to meet
changing needs and requirement.
Identifying resources needed and assigns individual responsibilities
Managing day-to-day operational aspects of a project.and scope
Minimizing exposure to risk
Managing project budget
Analyzing project cost

Qualifications include:

Extensive knowledge of the general construction industry and the sub trades
Extensive knowledge of construction legal issues including contracts, liens,
labor standards, retainage and other related topics
Ability to perform project management duties for construction projects up to
$150,000,000 effectively and efficiently including but not limited to Budgeting,
Scheduling, QA, Submittals, etc
Ability to identify, troubleshoot and resolve problems on projects before they
become major issues.
Ability to handle multiple tasks at the same time while maintaining attention

to detail

Ability to work in stressful situations
Ability to juggle departmental resources to mect deadlines
Ability to read and interpret financial reports

Ability to consistently prepare accurate cost estimates

Ability to successfully negotiate with owner’s, architects, engineers,
subcontractors and suppliers

Ensure Design-and Budget is compatible.
Development of assigned Bid Packages

Excellent written and verbal communication skills

Miligates team conflict and communication problems

Motivates team to work together in the most efficient manner

Please forward your curriculum vitae with salary requirements via e-mail to the

Human Resources Manager at hr@bahamar.com
or fax to (242) 677-9100 no later than February 21, 2008.

All responses will be held in the strictest confidence.





PAGE 6B, WEDNESDAY, FEBRUARY 20, 2008

THE TRIBUNE







y
'

o






experience and qualifications.

P.O, Box CB-12707
Nassau, Bahamas

Write to:





Legal Notice

NOTICE

HARK COAST HOLDINGS LIMITED

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 13th day of
February 2008. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

LEADING COMPANY

Urgently seeking Director Of Human Resources
|





$1.5m provision
reversal accounts

for FINCO’s 2007
income increase

FROM page 1B

company had enjoyed an
almost $1.1 million net gain on
its provision for credit losses
via the $1.5 million reversal,
FINCO’s management said
that following an analysis dur-
ing 2007, it had “revised its
minimum provision ratios for
total loans and non-perform-
ing losses”.

As a result, FINCO’s total
provision for credit losses now
stood at 1.32 per cent of its
total $616.2 million loan port-
folio, compared to the previ-
ous 1.63 per cent ratio.

The provision also covered
49.94 per cent of total non-per-
forming loans, compared to the
previous 50.82 per cent. FIN-
CO management added that
the lender’s “provision for
credit losses remains strong”,
was in line with industry aver-
ages and met regulatory guide-
lines,

Meanwhiie, through adopt-
ing International Accounting
Standard 18 for revenue, FIN-
CO announced that it had
changed its accounting treat-

mitment fees.

Previously, the institution
had recognised the proceeds
from these commitment, fees
instantly, but under the new
accounting treatment will
‘defer’ and amortise them over
the mortgage loan’s life.

FINCO will use an average
loan term of 20 years to do
this, but by applying the
accounting treatment retroac-
tively, the institution saw
2006’s opening retained earn-
ings decline by $5.467 million.

Fees and commissions
earned in fiscal 2006 also fell
by $501,9256, with deferred
fees for that year increasing by
$5.969 million.

The increased competition
for deposits due to liquidity
shortages in the Bahamian
commercial banking system in
2007 depressed FINCO’s net
interest spreads, mush as it did
for other institutions.

Forced to offer higher inter-
est rates to attract deposits,
FINCO saw its interest
expense for the year to Octo-
ber 31, 2007, increase by 23 per
cent, growing by more than $4

cent in some instances” due to
streamlining of the required
paperwork.

She added: “This means our
customers are receiving much
quicker decisions on their
mortgage applications. The
next step in 2008 is to improve
the time it takes from the com-
mitment stage of a mortgage
to when the customer actually
receives funds credited to their
account, from an average of 90
days to 45 days.”

Ms McCartney added that

FINCO had during 20907 sep-
arated the sale of mortgages
from home and life insurance
by creating, on May 1, its own
wholly-owned insurance
agency, FINCO Insurance
Agency Ltd. The latter will be
responsible for providing FIN-
CO mortgage borrowers with
home and life insurance.

Ms McCartney added: “This
allows lenders to focus more
on the sale of mortgages and to
better meet the lending needs
of our customers.”

NOTICE

NOTICE is hereby given the LORENCEAU LOUIS of EAST
ST., P.O. BOX NP-4370, 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 20th day of February, 2008 to the Minister responsible
for Nationality and Citizenship, PO.Box N - 7147, Nassau,

Bahamas.



million to $22.506 million from
$18.294 million the previous
year.

This more than cancelled out
the 8.7 per cent increase in
interest income FINCO expe-
rienced, as this grew to $50.74
million compared to $46.69
million the year before.

As a result, FINCO’s net
interest income fell by $0.2 mil-
lion or 0.57 per cent. Non-
interest income, though, which
consists of bank fees, commis-
sions and charges, grew by 5.67
per cent compared to the pre-
vious year’s 5.28 per cent
growth.

On the other side, non-inter-
est expenses increased by $0.6
million or 5.42 per cent over
2006, something FINCO man-
agement attributed to “higher
staff and occupancy costs, and
an increase in telecommunica-
tions costs when compared to
the previous year”.

The BISX-listed institution,
which is 75 per cent owned by
Royal Bank, added that its
loan portfolio grew by 10.15
per cent or $56.8 million in fis-
cal 2007, reaching $616.2 mil-
lion at year-end compared to
$559.4 million in 2006.

With housing demand con-
tinuing to be strong, FINCO
said the increase was largely
due to “aggressive marketing”
and its Blockbuster campaign.

Tanya McCartney, FINCO’s
new managing director, told
shareholders that the turn-
around time for approving
mortgage applications “has
improved as much as 70 per



ment for mortgage loan com-

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Pricing Information As Of:

=) FIDELITY
Tuesday, 19 February 200 8 CFA L.”

BISX LISTED & TRADED SECURITIES » VISIT WWW.BISXBAHAMAS. COM FOR MORE OGATA & INFORMATION

BISX ALL. SHARE INDEX: CLOSE 1,996.91 / CHG 0.10 / %CHG 0.01 / YTD -69,84 CYÂ¥TR % -3.38 AG
Div $ P/E Yield













~ 52wk-Low































































52wk-Hi Securit y Previous Close Today's Close Change Daily Vol. EPS $
0.75 Abaco Markets 1.73 1.73 0.00 0.157 0.000 11.0 0.00%
11.80 11.00 Bahamas Property Fund ‘ 11.80 11.80 0.00 1.502 0.400 7.9 3.39%
9.68 8.11 Bank of Bahamas 9.61 9.61 0.00 0.612 0.260 15.7 2.71%
40.99 0.80 Benchmark 0.99 0.99 0.00 0.188 0.030 5.3 3.03%
13.74 1.85 Bahamas Waste 3.66 3.66 0.00 0.289 0.090 12.7 2.46%
2.70 1.25 Fidelity Bank 2.60 2.60 0.00 0.058 0.040 44.8 1.54%
12.70 10.00 Cable Bahamas 12.70 12.70 0.00 153 1.030 0.240 12.3 1.89%
3.15 2.00 Colina Holdings 3.14 3.14 0.00 0.031 0.040 101.3 1.27%
8.50 4.52 Commonwealth Bank (S1) 7.50 7.50 0.00 860 0.428 0.260 17.5 3.47%
7.22 4.48 Consolidated Water BDRs 4.48 é 4.58 0.10 98 0.129 0.052 34.7 1.16%
2.60 2.20 Doctor's Hospital 2.44 2.44 0.00 0.316 0.020 7.7 0.82%
eto 5.70 Famguard Ag 7.79 0.00 0.713 0.280 10.9 3.59%
13.01 12.30 Finco 13.00 13.00 0.00 0.801 0.570 16.2 4.38%
14.75 13.99 FirstCaribbean 13.99 13.99 0.00 0.914 0.470 15.3 3.36%
6.10 5.12 Focol (S) 5.15 5.15 0.00 0.363 0.140 14.2 2.72%
11.00 0.54 Freeport Concrete 0.74 0.74 0.00 0.035 0.000 21.1 0.00%
8.00 7.20 ICD Utilities 7.25 7.25 0.00 0.411 0.300 17.6 4ANAN%
12.50 8.60 J. S. Johnson 12.30 12.30 0.00 1.059 0.610 11.6 4.96%
10.00 10.00 Premier Real Estate 10.00 10.00 0.00 1.167 0.600 8.6 6.00%
> i Fidelity Over-The-Counter Securities ‘ ‘
wk-Hi 52wk-Low Symbol Bid $ Ask § Last Price Weekly Vol. EPS $ Div $ P/E Yield
7 Bahamas Supermarkets 14.60 15.60 16.00 1.160 1.185 13.4 8.12%]
8.00 6.00 Caribbean Crossings (Pref) ‘ 6.00 6.25 6.00 0.000 0.480 NM 7.80%)
0.54 0.20 RND Holdings 0.35 0.40 0.35 -0.023 0.000 N/M 0.00%
g Colina Over-The-Caunter Securities é S
41.00 41.00 ABDAB 41.00 43.00 41.00 4.450 2.750 9.0 6.70%
14.60 14.00 Bahamas Supermarkets 14.60 15.60 14.00 1.160 1.125 13.4 7.71%
0.55 0.40 RND Holdings . 0.45 0.55 0.45 -0.030 0.000 N/M 0.00%
BISX Listed Mutual Funds




Yield %



NA V
1.300059°**"

YTD%" Last 12 Months Div $



Fund Name
Colina Bond Fund

52wk-Low
1.2037












3.6008 2.4723 Colina MSI Preferred Fund 2.999402*** 19.97%

1.3798 1.2647 Colina Money Market Fund W37OT7 eee ee

3.7969 3.0569 Fidelity Bahamas G & | Fund 3.7442*** -1.40% 27.72%
11.9880 11.3545 _ Fidelity Prime Income Fund 11.9880*** 0.46% 5.53%
100.0000 100.0000 CFAL Global Bond Fund 100.00**

100.0000 100.0000 CFAL Global Equity Fund 100.00**

1.0000













1.0000 CFAL High Grade Bond Fund 1.00**
10.5000 9.6628 Fidelity International Investment Fund 9.6628***
FINDEX: CLOSE 922.49 / YTI 3.10% / 2007 34.47%
BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 MARKET TERMS YIELD - last 12 month dividends divided by closing price NAV KEY
52wk-Hi - Highest ing price in le 2 weeks Bid $ - Buying price of Colina and Fidelity
52wk-Low - Lowe 9 prica in last 52 weeks Ask $ - Selling price of Colina and fidotity






*. 31 December 2007











Previous Close » 5 day's weighted price for daily volume rice Last traded aver the counter price

Today’ 5 Current day's weighted price for daily volume Vol ~ Trading volume of the prior wook V1 January 2008
Change - Change in closing price from day to day EPS $- A company's reported earnings por share for the last 12 mths: * 2) January 2008
Daily Vol. - Number of total shares traded today NAV -NetAsset Vale ne 8 Pobruary 2008
DIV $ Dividends per share paid in the last 12 months N/M - Not Meaningful

P/E - Closing price divided by the last 12 month earnings FINDEX - The Fidelity Bahamas Stock Index, January 1, 1994 = 100

(S) - 4-for-1 Stock Split - Effective Date 8/8/2007

(S1) - 3-for-1 Stock Split - Effective Date 7/11/2007




TO TRADE CALL: CFAL 242-502-7010 / FIDELITY 242-356-7764 / FOR MORE DATA & INFORMATION CALL. (2472) 304-2803





NOTICE

NOTICE is hereby given the NESTLIE SAMSON of
CARMICHAEL ROAD, 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 20th day of February, 2008 to the Minister responsible
for Nationality and Citizenship, PRO.Box N - 7147, Nassau,
Bahamas. :

NOTICE

_ NOTICE is hereby given the DAVID LOUIMA of MALCOLM

ALLOTMENT, 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 20th day of February,
2008 to the Minister responsible for Nationality and Citizenship,
P.O.Box N - 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that ROSELINE PIERRE OF QUINTINE
ALLEY OFF WULFF ROAD, NASSAU, BAHAMAS, is applying
to the Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and that
any person who knows any reason why registration/ naturalization’
should not be granted, should send a written and signed
statement of the facts within twenty-eight days from the 13TH
day of FEBRUARY, 2008 to the Minister responsible for
Nationality and Citizenship, RO.Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that WINDLEY TOUSSAINT OF P.O.
BOX 5537720, 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 13TH day of FEBRUARY, 2008 to the Minister
responsible for Nationality and Citizenship, PO.Box N-7147,
Nassau, Bahamas.

NOTICE

NOTICE is hereby given that CARMELITA FRANCIQUE OF P.
O. BOX EE-16652, PRINCE CHARLES DRIVE, NASSAU,
BAHAMAS, is applying to the Minister responsible for Nationality
and Citizenship, for registration/naturalization as a citizen of
The Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should send
a written and signed statement of the facts within twenty-eight
days from the 13TH day of FEBRUARY, 2008 to the Minister
responsible, for Nationality and Citizenship, RO.Box N-7147,
Nassau, Bahamas.

NOTICE

NOTICE is hereby given that STEVEN FLORESTAL OF P.O.
BOX N-8796, DELANCY STREET, NASSAU, BAHAMAS, is
applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a citizen of The









Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should send
a written and signed statement of the facts within twenty-eight
days from the 13TH day of FEBRUARY, 2008 to the Minister
responsible for Nationality and Citizenship, RO.Box N-7147,
Nassau, Bahamas.





THE TRIBUNE

WEDNESDAY, FEBRUARY 20, 2008, PAGE 7B





Ex-

FORMER Deloitte &
Touche (Bahamas) managing
partner, Macgregor Robert-
son, has been elected as Bank
of the Bahamas Internation-
al’s chairman, with retired
banker Peter Thompson
named deputy chairman.

The duo were elected to
the top non-executive posts
at the bank's first Board
meeting following its annual
general meeting in late Janu-
ary, a meeting at which
shareholders heard reports of
record performance and
strong asset growth. Share-
holders elected nine new
directors, and returned hote-

Baha Mar:
Incentives

Commercial Village buildings.

“We do see that during con-
struction that the total labour
needed, direct and indirect,
could go as high as 2,500 at its
peak.”

When asked whether its fail-
ure to hang on to all the land it
was initially granted by the
Christie government’s Heads
of Agreement in 2005, and the
Government’s refusal to grant
additiorfal incentives; would
hurt Baha Mar’s plans, Mr
Sands replied: “The bottom
line is that we believe the
agreement we have still allows
us to develop the project exact-
ly as we envisioned, with some
minor tweaks.

“We're very glad to have
been able to conclude these
intensive and protracted nego-
tiations to allow this fantastic
project.

“At the end of,the day, even
though we believe they were
complex negotiations, our
vision is intact. We are sure
the project will reflect the:cre=
ative vision we have.

“We are satisfied that the
agreement that we have, in its
present form, allows us to pro-
ceed with the project. It is
always important for us as
developers to negotiate what
we consider to be the best con-
tract for us. At the end of the
day, our agreement was mutu-
al.”

Under the supplemental
Heads of Agreement signed
between the Government and
Baha Mar on January 31, 2008,
the Government will retain
ownership of the Gaming
Board and the Bahamas
Development Bank buildings
and land.

In addition, Baha Mar and
its joint venture entity also
agreed to “relinquish its right
to purchase from the Treasur-
er” part of West Bay Street
and the median strip directly
opposite SuperClubs Breezes.

In effect, the main winner
from these two revised land
deals is SuperClubs Breezes,
as it will no longer be sur-
rounded on all sides by Baha
Mar.

In addition, Baha Mar had
_agreed to convey the West Bay
Street property mentioned
here back to the Government,
subject to it agreeing to lease
the land to PPL (Nassau) Ltd.

That company, according to
documents attached to the sup-
plemental Heads of Agree-
ment, appears to be the hold-
ing company for the Issa fami-
ly’s ownership interest in
SuperClubs Breezes.

The lease document says
PPL’s chairman is John Issa,
with Muna Issa named as its
secretary and treasurer. The
land has been leased to PPL
for 45 years, in return for the
payment of $10,000 per annum
in rent.

This transaction appears to
give SuperClubs Breezes con-
trol of all surrounding proper-
ty, including access to its resort.

Meanwhile, the attached
documents also showed that
the 50 acres of Crown Land on
Gladstone Road that the Gov-
ernment will lease to Baha
Mar for 50 years initially, once
the Caésar’s hotel reaches 100
feet in height, is located next to
the Bahamas Food Services
property.

Baha Mar Joint Venture
Company will also assume
responsibility for the Scotia-
bank branch lease at the Cecil
Wallace-Whitfield Centre.

eloitte chief
bank’s new chair

lier Robert ‘Sandy’ Sands
and Treasury financial secre-
tary, Ruth Millar, to the
Board. Paul McWeeney con-
tinues as managing director.

"Bank of the Bahamas
International has performed
extremely well for sharehold-
ers who have demonstrated
their loyalty over the years,"
said Mr McWeeney ina
statement.

"On behalf of the entire
executive and strategic man-
agement teams, I am pleased
to welcome Mac Robertson
and Peter Thompson to the
positions of chairman and
deputy chairman, respective-
ly, and to extend that wel-
come to all the new direc-
tors."

Mr Robertson, a founding
partner of the firm that
evolved into Deloitte and
Touche, served as its manag-
ing partner for the Bahamas
and Caribbean. He has
served as chairman of the
Board of Bahamasair and the
Bahamas Development

Bank.

Mr Robertson is a founding
member of the Bahamas
Institute of Chartered
Accountants, as well as a
member of both the Nova
Scotia Institute and Canadian
Institute of Chartered
Accountants.

Mr Thompson is a retired
banker, having worked for
many years in the Bahamian
banking industry where he
served in a top executive
position. He has previously
served on the boards of the
Bahamas Electricity Corpo-
ration, Bahamas Telecommu-
nications Company, Bahamas
Quality Council and the.
Bahamas Red Cross.

Other appointments during
the first Board meeting
included Laura Williams as
corporate secretary and
Yvette Johnson as assistant
secretary.

Directors elected at the
annual general meeting also
included businessman and
former banker Wesley Bast-

The Abaco Club on Winding Bay, Abaco, is looking to fill the
following positions in its Development Department. This is an

eight (8) year project.

Project Manager - Construction

¢ Minimum 10 years experience in construction management
Proficient in reading and understanding construction plans
Proficient in creating and monitoring of construction

schedules

Assist with development of forecasting and working

budgets

Proficient with Microsoft Word and Excel
Keen understanding of maintaining aggressive schedules

within planned budgets

° Needs good communication, logistical and organizational

skill

° Will work closely with larger GC on high-end product

¢ Minimum 5 years of construction site management

experience

Good working knowledge of timber and masonry

construction methods

¢ Working knowledge of construction materials
Proficient in reading and understanding construction plans
Proficient in fielding and resolving daily on-site queries

from contractors

Proficient in performing material take-offs

Proficient in creating construction schedules

Proficient with Microsoft Word and Excel

Needs good communication, logistical and organizational

skills

Quantity Surveyor/Estimator

¢ Minimum 5 years experience as a QS/Construction

Estimator

Proficient in reading and understanding of construction

plans

Proficient in material take-offs and creating Bills of

Quantities

Proficient in developing forecasting and working budgets
Proficient with Microsoft Word and Excel
Need good communication and organizational skills

Project Scheduler

¢ Minimum 5 years experience as a Project Scheduler
Proficient in reading and understanding of construction

plans

Proficient with Sure-Track scheduler program
Proficient with Microsoft Word and Excel
Need good communication and organizational skills

Procurement Officer

° Minimum 5 years experience as a Procurement Officer
° Detailed understanding of freight and shipping logistics
° Proficient with ordering and tracking of construction

materials

* Good working knowledge of construction materials
° Proficient with Microsoft Word and Excel
° Need good communication and organizational skills

Warehouse Clerk

° Good understanding of construction materials
° Good understanding of warehouse procedures
° Proficient with Microsoft Excel

Resume should be sent to Nick Sims,
Development Department,
The Abaco Club on Winding Bay,
P.O. Box AB-20571, Marsh Harbour, Abaco

-mail to construction@theabacoclub.com

A



ian, insurance executive Mar-
vin Bethel, attorney Ruth
Bowe-Darville, insurance
executive Patricia Hermanns,
College of The Bahamas edu-
cator Dr Pandora Johnson,
attorney Hartis Pinder and
insurance executive Patrick
Ward.

Bank of the Bahamas
International's year-end
results showed strong perfor-
mance in every category, with
a sharp increase in sharehold-
er value, net income of nearly
$11 million and more than
$110 million in total asset
growth.

It ended the 2007 fiscal
year with total assets of near-
ly $546 million. By the end of
this fiscal year, assets had
jumped to more than $658
million, an increase of some

20 per cent. Macgregor Robertson



OEE ISA

Auditors’ Report



To the Shareholders of National Bank of Canada



We have audited the Consolidated Balance Sheets of National Bank of Canada (the “Bank”) as at October 31, 2007 and 2006 and the
Consolidated Statements of Income, Comprehensive Income, Changes in Shareholders’ Equity and Cash Flows for the years then ended.
These financial statements are the responsibility of the Bank’s Management. Our responsibility is to express an opinion on these financial
statements based on our audits.

We conducted our audits in accordance with Canadian generally accepted auditing standards. Those standards require that we plan and perform
an audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit includes examining, on
a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by Management, as well as evaluating the overall financial statement presentation.

In our opinion, these consolidated financial statements present fairly, in all material respects, the financial position of the Bank as at

October 31, 2007 and 2006 and the results of its operations and its cash flows for the years then ended in accordance with Canadian generally
accepted accounting principles.

serene, mes ES



ae , fal: “Neti iak eneal

Samson Bélair/Deloitte & Touche s.e.n.c.r.l.
Chartered Accountants

Montreal, Canada, November 28, 2007

Consolidated Financial Statements
Consolidated Balance Sheet

































As at October 31 «
(railllons ofdollars) Note 2007 2006
ASSETS
Cash
a 283 268
Deposits with financial institutions 3,045 10,611_
Securitles ,
Available for sale (2006: Investment account) 3 8,442 6,814
Held for trading ; 4 30,828 31,864
39,270 38,678
Securities purchased under reverse repurchase agreements 5,966 7,592
Loans 5,6and7
Residential mortgage 15,895 15,385
Personal and credit card 13,116 11.319
Business aad government 19,377 20.667
48,388 47,371.
Allowance for credit losses (428) (426)
47,960 46,945
Other
Customers’ liability under acceptances 4,085 3,725
Fair value of derivative financial instruments 23 4,883 2,269
Premises and equipment 9 426 ‘385
Goodwill 10 703 683
Other intangible assets 10 169 177
Other assets ; 11 6,295 5,468
16,561 12,707
113,085 116,801.
UABILITIES AND SHAREHOLDERS’ EQUITY
Deposits 12
Personal 30,215 29,092
Business and government 33,797 33,998
Deposit-taking institutions 6,561 8,602
Deposit from NBC Capital Trust 225 225
70,798 71,917_
Other
Acceptances 4,085 3,725
Obligations related to securities sold short 16,223 15,621
Securities sold under repurchase agreements 2,070 9,517
Fair value of derivative financial instruments ; 23 3,620 1,646
Other liabilities 14 9,087 7,562
35,085 38,071
Subordinated debentures 15 1,605 1,449
Non-controlling Interest : 16 960 S76
Shareholders’ equity
Preferred shares ; 18 400 400
Common shares 18 1,575 1,566
Contributed surplus 19 32 21
Retained earnings 2,793 2,893
Accumulated other comprehensive income (loss) Land 2 (163) (92)
4,637 _ 4,788
= 113,085 116,801



Louis Vachon
President and Chief Executive Officer

Paul Goseii
Olrector

Interested persons may obtain a complete copy of the Audited Accounts
from SG Hambros Bank & Trust (Bahamas) Limited, P.O. Box N-7788,
‘West Bay Street, Nassau, Bahamas.



Europe trade deal ‘a great baseline’



FROM page 1B

international trade agreemént
facing the Bahamas that was
compatible with World Trade
Organisation (WTO) rules,
and joining now - on this
nation’s terms - would provide
it with a foundation and base-
line offer for far more rigor-
ous trade agreement negotia-
tions, such as the replacement
for the US Caribbean Basin
Initiative (CBI).

Mr Ferguson said of the
EPA: “This is not about just

protecting [market access to -

the EU] for the fisheries indus-
try and Polymers Internation-
al, but more so a matter of





from people who are
making news in their
neighbourhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an
award.

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

between 1991 and 1995.

passing.
Darien.

and family.

Friday, February 15, 2008



Share your business

The Tribune wants to hear

preparing the Bahamas for all
future agreements that are
pressing, such as the Caribbean
Basin Initiative and CaribCan
with Canada.”

Warning

Warning that the Bahamas
could find itself “isolated” in
the Western Hemisphere,
because it was the only nation
that was not part of a rules-
based trading agreement, he
added: “Our view is that the
EPA is the most flexible and
comfortable of the multilater-
al trade agreerments that the
Bahamas has to face.

“By joining now, we can














PRESS RELEASE

ISSUED BY THE COUNCIL. OF LEGAL EDUCATION



Keith Sobion Esq.

It was with a profound sense of: loss that the Chairman and full membership of the
Executive Committee of the Council of Legal Education received word of the passing of
Keith Sobion Esq. on Thursday 14" February. 2008.

The Executive Coynmittee of the Council was in meeting in Georgetown, Guyana when
the communication was received. But for his hospitalization, Mr. Sobion would have been
in attendance at that meeting.

Mr. Sobion was among the first graduating lass of the Hugh Wooding Law School in .
Trinidad and Tobago in 1975 and, at the date of his death he was the Executive Director of
the Secretanat to the Council on secondment from his substantive position as Principal of
the Norman Manley Law School in Jamaica.

Mr. Sobion joined the permanent staff of Council in 1996 when he took up the position of
Principal, and was seconded in 2006 to lead the Secretariat as Executive Director. Prior to

this, Mr. Sobion had served as a Member of Parliament in the administration of the PNM
Government in Trinidad and Tobago and as Attomey General of Trinidad and Tobago

Mr. Sobion’s was a life of public service. He was deeply committed and dedicated to a
vision for excellence and worked tirelessly in pursuit of the mission of Council in fulfilling
its role of developing competent, ethical lega] practitioners around the region.

All of the members of Council expressed their sorrow at his untimely and premature
Mr. Sobion is survived by his dear wife, Judich and their three (3) sons, Jules, Justin, and
Council extends the sincerest condolences of the Chairman and members to Mrs. Sobion
May his soul rest in peace and rise in glory.

Persons are invited to sign a Condolence Boo< at the Administrative Office of the Eugene
Dupuch Law School, second floor, Old National Insurance Building on Farrington Road.

it

fea stb

build the institutional capacity,
the negotiating capacity, make
the necessary legislative
changes and prepare the coun-
try to engage in a rules-based
trading system.”

He added of the EPA: “This
is going to be a great baseline
and preparation for WTO
entry, as well as negotiations
on the CBI and CaribCan.”

Under the terms of the EPA
agreement negotiated by
CARIFORUM on behalf of
the Bahamas and other
Caribbean nations, the
Bahamas - if it signs on - must
ultimately liberalise 75 per cent
of its services sectors and 86
per cent of its goods [market
access] sectors.

It can ‘reserve’ or exclude
some 25 per cent of its services
industries and just under 15
per cent of its goods sectors
from the EPA’s provisions,
and will also be able to open
others up in a phased liberali-
sation process over five, 10, 15,
20 and 25-year periods.

Sources told The Tribune
that the Bahamas has to sub-
mit its draft services offer on
the EPA by April, and a draft
version of this is being pre-
pared by Canadian consultants,
Mark Sills and Murray Smith.
The services aspect of the EPA
will only take effect five years

















after the agreement comes into
being, but consultation efforts
with the private sector have
already begun.

This newspaper was
informed that one area causing
a minor headache for the
Bahamas was telecommunica-
tions, given the status of cur-
rent attempts to privatise the
Bahamas Telecommunications
Company (BTC).

The EPA contains specific

articles referring to liberalisa- '

tion of the telecoms sector, and
the fear is that if a number of
European operators use this
to establish a commercial pres-
ence in the Bahamas, BTC’s
value in any privatization exer-
cise could be wiped out
overnight.
Signing

Given the five-year window
between the EPA’s signing and
the services aspect taking
effect, it is likely BTC will be
long-privatised and the issue
will disappear, but this is not
certain given the track record,
as the privatisation process has
been going on for more than a
decade.

Another area of concern is
likely to be the incentives
granted to Freeport, as a free-
trade or economic enterprise

zone, by the Hawksbill Creek
Agreement. Under rules-based
trading systems, there are
clauses such as ‘Most Favoured
Nation’ and ‘National Treat-
ment’, which prevent countries
from offering better incentives
to one country’s investors as
compared to another’s, and
providing better incentives to
Bahamian firms than foreign-
ers.

Yet investors in Freeport are
often able to access more gen-
erous incentives than are avail-
able elsewhere in the
Bahamas, and there have long
been concerns that some com-
panies have abused the ‘over-

- the-counter’ bonded goods sys-

tem by shipping product to
Nassau via Freeport to avoid
customs and stamp duties.
Documents produced by the
CARICOM Regional Negoti-
ating Machinery (CRNM)
reveal that among the main
services sectors CARIFO-
RUM has agreed to liberalise
are accounting; architecture;
engineering; computer and
related services; research and
development; management
consulting; services related to
manufacturing; telecommuni-
cations services; courier ser-
vices; environmental services;
hospital services; tourism and
travel-related services; enter-

THE TRIBUNE



tainment services; and mar-
itime transport.

Sectors

According to the CRNM,
the main sectors chosen by
CARIFORUM countries for

liberalization were “those that

have positive development
aspects, and in which member
states are seeking investment
or new technologies, as well as
sectors that are important to
create economic opportunities
in outsourcing contracts from
European firms”.

CARIFORUM?s main focus
was on liberalizing cross-bor-
der trade and investment, the
group having kept a tight grip
on temporary entry for EU
professionals, limiting this to
contract service suppliers and
independent professionals.

“The CARIFORUM sched-
ule of commitments on trade in
services and on investment
does not include the Bahamas
and Haiti, which will make
such submissions in the first
half of 2008 for incorporation
in the overall CARIFORUM
schedules within six months of
signature of the agreement,” a
CRNM briefing paper said, on
how professional services
would be treated under the
EPA.

THE BAHAMAS CHAMBER OF COMMERCE

IN ASSOCIATION WITH

THE U. S. EMBASSY ano BAHAMAS DEVELOPMENT BANK

hosts a

FRANCHISING SEMINAR & EXPO

Monday February 25th and Tuesday February 26th @ 8:36 am - 5:00 pm
at the BRITISH COLONIAL HILTON HOTEL

- Topics and Special Guest Speakers include:

«THE A~Zs OF FRANCHISING: .
John P, Hayes, Ph.D, Hayes Worldwide.com, Hayes Marketing Services

Cost: $75

«US FRANCHISORS PRESENTATIONS:

Salad Creations; Planet Beach Contempo Spa; Billboard Connection; Aerobaloon; Signarama;

~ Marble Slab Creamery; Pretzel Maker; Shoebox New York; Maggie Moo’s Ice Cream and
Treatery; Officel Stationery Franchise; JuiceBlendz International

«FINANCING YOUR FRANCHISE:

;

|
\
}
|
i

ae
i

| « SPECIAL LUNCHEON:
Adam Ogdena, Entrepreneur/Founder-CEO, JUICEBLENDZ Franchise

|» LOCAL FRANCHISE LAWS:
John Delaney, Managing Partner, Higgs & Johuson
Ryan Pinder, Attorney-at-Law, Becker Poliakoff, Miami, Florida

Calvin Knowles, Managing Director, Bahamas Development Bank

© OWNING AND OPERATING A U.S, FRANCHISE ROUNDTABLE DISCUSSION:

Gershan Major, Mail Boxes Ete—Caribbean

Chris Tsavoussis, Wendy's Restaurants

Scott Farrington, Sun Tee Ltd. / Embroid Me

- Keith Glinton, Esso / On The Run

: Executive speakers include: Philip Simon, Executive Director, Bahamas Chamber of Commene; Dr, D, Brent Hardt,
. Deputy Chief of Mission; Dionisio D, Aguitar, President, Babamas Chamber of Commerce; Darron Cash, Chairman,
' Bahamas Development Bank; H.E. Ned Siegel, Ambassador U.S. Embassy Bahamas; Hon. Zhivargo Laing, Minister of

' State, Finance

Register today at The Bahamas Chamber of Commerce!
Call 322-2145 or email abutler@thebahamaschamber.com

“The Tribune looks

out for my interests.

The Tribune is my

newspaper.”

NELSON JOHNSON
TAXI DRIVER



The Tribune

My Vevce. ly Jlewsoqper!



Full Text




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ANY TIME...ANY PLACE, WERE #1





BAHAMAS EDITION

aS

_WEDNESDAY, FEBRUARY 20, 2008

ae ine
J and rhymes’
ai ey

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Claim that Jerome
Fitzgerald is another
possible candidate

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

JEROME Fitzgerald is the
latest name to be put forward
as a possible candidate for the
position of National Chairman
of the PLP, sources at the par-
ty’s convention claimed last
night.

Currently th there are three offi-
cial candidates who have pub-
licly announced that they will
be vyitig for National Chairman
— Englerston MP Glenys Han-

Future leadership
hopefuls ‘must
secure the —
heart of the party’

Se



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

THOSE who seek the
PLP’s leadership some time
in the future must ensure that

they go about it the right way,.

securing the “heart” of the
party, lest they may not be
able to win a government in
the future, said former first
lady Bernadette Christie.
Mrs Christie spoke to The
Tribune yesterday about some

na-Martin, PLP newcomer
Omar Archer and Mr Elcott
Coleby.

In addition to the three can-
didates, PLP MP for MICAL
Alfred Gray has announced that
he has not ruled out the possi-
bility of entering the race for
the chairmanship of the PLP.

Another report which claimed

that the former PLP MP for ‘the

Bain and Grants Town con-
stituency Bradley Roberts
would be running for the post.

SEE page seven

Bernadette Christie



of her concerns for the coun-
try, and misconceptions about
her husband Perry Christie, at
the Wyndham Nassau Resort,
as party members finished off
last minute preparations for

SEE page seven

The Nassau office of
Insurance Management
will close
4pm Friday, February 22nd, 2008

o honor our Retiree

Mrs. Cynthia Sturrup
a 28 year employee of
Insurance Management

Regular business hours will resume on February 25th.

INSURANCE MANAGEMENT |

| (BAHAMAS) LIMITED, INSURANCE BROKERS & AGENTS







le



r

Felipé Major/Tribune staff

LAST MINUTE preparations were being made yesterday for the PLP’s 2008 Convention at the Wyndham
Nassau Resort in Cable Beach. The convention will be the party’s 50th.

Castro resignation sparks

mixed response in Bahamas



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

A MIXTURE of desponden-
cy and joy blanketed the Cuban
community in The Bahamas on
Tuesday as news broke of Fidel
Castro’s resignation from his
49-year reign.

The long-time president
announced Tuesday that he was
retiring after a rule of nearly
half 4 century over the Com-
munist country, during which
time he became an icon of the

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

Influx of Cuban immigrants
‘will probably continue’

revolution to his supporters and
a relentless dictator to his
detractors.

“T think it is sad news, most of

_ the Cubans would like to have

him to continue leading the rev-
olution as he had been doing
the last (49) years.

“He was the one to deliver a
number of triumphs (for) the
revolution over the last 49 years
and to be able to maintain hold
(of the revolution) despite all
the odds, despite the (opposi-
tion) from the United States,
despite all the problems that we



SEE page seven

THE BAHAMAS and its neighbours will probably continue to
see an influx of Cuban immigrants seeking exile despite an
announcement Tuesday that communist leader Fidel Castro has
retired, a Cuban immigrant told The Tribune yesterday.

The former president’s younger brother, Raul, who was appoint-










eee Oe Sere

Inspired by the SUR.

. had to face. ;
“At the same time we are :
glad that he will be able to con- }
tinue contributing with his :
ideas,-and, of course, a man of |
his stature will never withdraw
from the public and always will :
be an example to follow for the :
**Cuban Ambassador
Jose Luis Ponce said during an :
interview with The Tribune yes- }
: her early 70’s.




Fidel Castro (AP)

Cubans,

terday.

During his reign, President :
Castro, 81, survived nine US :
presidents, numerous assassi- }
nation attempts, and 10 US :
administration attempts to top- }

le his regime, according to :
Pp 8 = § ? soon.

international reports.

He fell ill in July, 2006 and Duane Sands, consultant of Car-

SEE page seven

SALE

ON SELECTED HANPBAGS GARMENTS
fe eR CRU tee hate a ee retry



‘Ninety’ retrial
postponed after
accused needs

_ medical attention

DRUG accused Samuel “90”

: Knowles’ retrial had to be post-
: poned yesterday after the
: accused had to receive medical
: attention because of an irregu-
i lar heartbeat.

The court is now expected to

i hear evidence in the matter
: beginning Monday.

Knowles was extradited from

: the Bahamas in 2006 to, stand
: trial in the US, and has long suf-
: fered from diabetes which is a
: growing and chronic disease
: that can lead to a number of ©
: other illnesses, including heart
: disease.

Inquiries about
status of Alfred
Gray legal action

AS THE PLP go into con-

? vention today, The Tribune has
: received calls inquiring about
: the status of legal action that
: MICAL MP Alfred Gray said
: he had commenced against two
; local newspapers in connection

with articles published in
December 2007.

At a press conference held
on January 4, 2008 relating to
those articles, Mr Gray and his
lawyer, Fred Mitchell, read pre-
pared statements.

Said Mr Gray: “Today I have
taken the necessary legal steps
in the Supreme court, which I

: fully expect will clear my name,

SEE page seven

Dame Marguerite
Pindling admitted
to hospital for
‘surgical procedure’

i By XAN-XI BETHEL

DAME Marguerite Pindling,
widow of former prime minister
Sir Lynden Pindling, was admit-
ted to the Princess Margaret Hos-
pital yesterday morning for a
“surgical procedure.” She is in

According to a statement from
the Princess Margaret Hospital
she was in good spirits at the time
of her,admission, and looks for-
ward to having the procedure
done so that she can return home

Her medical team includes Dr.

SEE page seven



Nila UE LR Ce Ce OUT OMELET mmeael rst

Telephone 242-304-4744
bobbed heh LhAb baie! SLL Peruri)


PAGE 2, WEDNESDAY, FEBRUARY 20, 2008

THE TRIBUNE



LOCAL NEWS





The battle for PLP deputy
chairmanship intensifies

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

A HEATED race may be
shaping up at the PLP’s Con-
vention for the party’s deputy
chairmanship, as it is uncertain
if the man currently in the post,
Irrington “Minky” Isaacs, will
seek re-election.

Mr Isaacs is one of the party’s
most familiar faces behind-the-
scenes, and is a major organizer
in the party’s large scale events
such as national conventions.
Mr Isaacs has held the post as
deputy chairman for the last
decade, since the post was cre-
ated by the party.

When asked yesterday by
The Tribune if he is renominat-
ing for deputy chairman, Mr
Isaacs acknowledged that many
rumours are circulating at the
convention, but he did not con-
firm or deny what his future
might be.

“We'll see what happens,” is
the only response he offered
yesterday.

Former PLP Vice-Chairman
Ron Rolle and current Vice-
Chairman Ken Dorsett will be
running for the deputy chair-
manship regardless of Mr Isaac-
s’s decision.

Both men said yesterday that
the revitalization of branches
would be a priority if they are
elected to the post, when asked
what changes they would like
to make.

Mr Rolle also noted the
deputy chairman must be able
to work closely with the chair-
man.

“And in doing so,” he said,
“you have to learn how to
pinch-hit when the chairman is
unable to deal with some things,

Doubt over whether ‘Minky’ Isaacs will seek re-election

GETTING READY: Workers adorn chairs on the national convention floor with the party’s blue and rat colours.

you have to be able to act on
it.”

At times, it may also be nec-
essary, explained Mr Rolle, for
an effective deputy chair to
bring certain matters to the
attention of the chairman, or
the National General Council,
regarding the direction of the

party or any of its branches.

Mr Rolle told The Tribune
yesterday that he will be ready
to jump into the role “right
away.”

Mr Dorsett said he intends if
elected to bring more young
people to the forefront of the
party, and to ensure that some

of the successful programmes
initiated by the PLP over the
last five years are continued.

“Tn addition to that, I think I
would wish to continue to see
the modernisation of the Pro-
gressive Liberal Party.

“Not only embracing new
technology, but also ensuring



that the way we go about doing
business, is not as usual,” he
said.

Mr Dorsett also emphasized
that now that the PLP is in
opposition, the party has the
opportunity to focus on its
machinery in order to be ready
when the next election is called.



B By DENISE MAYCOCK
‘ Tribune Freeport Reporter
dmaycock@tribunemedia.net



FREEPORT - The ongoing
dispute at the Grand Bahama
Port Authority is not sitting well
with residents here and contin-
ues to cause growing concern
and uncertainty in Freeport.

It is strongly felt by many that
the legal feud between the prin-
cipal shareholders at the Port
is impeding the further eco-
nomic development of
Freeport.

It is also felt that proper

attention is not being paid to
Freeport.

“No one is at the helm (of the
Port Authority) to assert the
position for future development
— we are still being held
hostage with zero economic
growth and with no forecast in
sight by the Port Authority,” a
concerned resident said at a
town meeting on Monday
evening.

Many residents turned out at
the Foster Pestaina Hall for
Love 97’s live radio symposium
on the economy of Grand
Bahama. Minister of State for

Growing concern Over port

Finance Zhivargo Laing and
lawyer Gregory Moss, president
of the Grand Bahama Cham-
ber of Commerce, were among
the panelists.

Minister Laing assured resi-
dents that government is keen-
ly aware of the economic state
of Grand Bahama, as well as
the frustration, pain and suffer-
ing they are experiencing
because of it.

He said that it is reasonable
that residents would express
concern about the current situ-
ation at the Port Authority.

“The GBPA is such a pivotal

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player in the» economic
prospects of Freeport and the
larger Grand Bahama commu-
nity. So, clearly the dispute
between the principals and the
stagnation of Port Authority
activities would be on the minds
of people here,” he said.

“I think the Prime Minister
has said on a number of occa-
sions that the public interest of
this country will not be served
by a continuing fight between
the principals, and that the gov-
ernment expects this matter
would be resolved soon.”

It has been over a year now
since the Hayward family trust
and the St George estate have
been embroiled in an owner-
ship dispute at the Grand
Bahama Port Authority. The
company is in receivership while
the legal action continues in the
Court.

Although Sir Jack Hayward
has indicated an interest in sell-
ing his 50 per cent stake to the
Fleming Group, the St George
estate has obtained an injunc-
tion preventing him from selling
to a third party. The St Georges
are arguing that they should
have first option on the Hay-
ward shares.

A concerned businessman
claims that residents are strug-
gling to pay Port taxes in a
struggling economy, while the
feuding principals continue to
fight and earn profits.

“We have not heard any-
thing; we are virtually hand-
cuffed because of the legal
wrangling at the Port. We are
like a ship without a sail,” he
said.

Gregory Moss, Chamber
president, said the present dis-
pute at the Port does not inject
confidence and needs to be
resolved in the best interest of
Freeport.

“The present state cannot
properly constitute a Board of
Directors; it cannot properly
manage the functions of the
company and give the kind of
confidence that is important (to
Freeport).

“The idea that people do not
know for certain what is going
to be the make up of the Port;
what is going to be the results of
the make up and what policies
are going to follow, of course, it
is something of an issue,” he
said.

Minister Laing stressed that

authority dispute





“We have not
heard anything;
we are virtually
handcuffed
because of the
legal wrangling
at the Port. We
are like a ship
without a sail.”



the situation is not going to be
allowed to continue unresolved
at the Port Authority.

He admits that the Port
Authority has had conflicting
issues in Grand Bahama
because of its responsibility as a
regulator of business, and as a
competitor with businesses.

“I want to be careful to not
turn this into a single entity
bashing event because every-
where you will find in almost
every organization around the
world — people having issues
with entities.

“And those who say it has to
change, | have no doubt that 10
or [5 years the current state of
things, insofar as the Port inter-
twined of municipal authority,
will not be the prevailing situa-
tion in Grand Bahama.

“TL have no doubt about that
— but no one ought to pretend
that this can change overnight,”
said Mr Laing.

Minister Laing is optimistic
that the Grand Bahama econo-
my will start to improve “mar-
ginally” over the next 12
months. Mr Laing felt that the
meeting was productive to the
extent that residents were able
to'express themselves and their
concerns and were able to offer
some ideas about what they
thought should happen.

He said the insight provided
on the dynamics and prospects
of Grand Bahama by the panel
of speakers were also helpful.
The other members of the pan-
el were Gwen Newbold, opera-
tor of Grand Bahama Snack
Food Wholesale; Accountant
Kevin Seymour; and Keith
Worrell, general manager of
Grand Bahama Millwork.



(Man jailed for

BIC break-in
at Ahaco

@ By DENISE MAYCOCK
Tribune Freeport.
Reporter
dmaycock@tribunemedia.net

FREEPORT - A 42-year-old
male resident of Abaco was sen-
tenced to 18 months at Fox Hill
Prison after pleading guilty to
breaking into the Bahamas
Telecommunication Company on
that island.

Don Canter, of Wood Cay,
appeared on Monday before
Magistrate Crawford McGee on
charges of breaking and entering
with intent to steal.

According to police reports, he
was captured on surveillance tape
breaking into the BTC office at
Fox Town sometime between
5pm on February 15 and 9.30am
on February 16.

The office was ransacked.

When police arrived at the
scene, the burglar bars had been
pried open and the front door
glass had been smashed. While
searching the premises, officers
watched a surveillance camera
tape and saw the break in as it
occurred.

Police are crediting the capture
and speedy resolution of the mat-
ter to the surveillance camera.

Tourist, 45,
dies in rental
hike accident

A 45-year-old tourist from
Maryland died Monday after hit-

ting a wall while travelling, with -

his wife, on a rental scooter.

Shortly before 4 pm on Sun-
day a husband and wife from
Maryland were travelling on West
Street near Meeting Street on a
2007 S.G-150 rental motorcycle.

They ran into a concrete wall
and were both taken to hospital in
a conscious state.

The husband complained of
internal pain and was detained.
He died sometime before 3 pm
on Monday.

He was identified as Keith
Jones, 45.

Stabbing victim

‘discharged

from hospital

Fifteen-year-old Dentrel Far-
rington, a student at the Sir Jack
Hayward High School, was dis-
charged from hospital and is now
at home recovering from stab
wounds suffered during an alter-
cation on Saturday.

Farrington, who was stabbed
about the body, told police that
he was attending a school dance
held by St George High School at
the Bowling Alley when he was
stabbed by a group of young men
in the parking lot.

He told police that he was leav-
ing the dance with two friends
when they were confronted by
the group of men. He said he
knew one of culprits who is a stu-
dent at Tabernacle Academy.

Farrington was taken to Rand
Memorial Hospital around 2am
on Saturday.

He was admitted and treated
for three stab wounds to the
body.

Supt Rahming said the matter
is presently under police investi-

gation.

Whale dies after
heing found beached

An injured 20-ton whale died
Tuesday morning after it was dis-
covered beached near the shore-
line on Abaco,

According to Chief Supt Basil
Rahming, a resident spotted a 26-
ft long whale around 7.30am on
Monday in shallow waters at Old
Carr Beach on Abaco, about half
a mile south of Bahama Palm
Shores.

The whale, which was been
identified as a “brytus” type, had
suffered injuries to both eyes, but
was still alive.

Ms Dianne Claridge c/o Abaco
Whale Watchers Society, was
alerted,

She and others went to the
location where they gave medical
assistance to the wounded mam-
mal.

However, in spite of their
efforts the whale died early on
Tuesday morning.

The cause of death and injuries
were not reported.

Supt Rahming said local resi-
dents are pow in the process of
burying the large mammal at a
site near the beach.

a
THE TRIBUNE



WEDNESDAY, FEBRUARY 20, 2008, PAGE 3





THE TRIBUNE asked PLP

chairman hopefuls Omar
Archer and Elcott Coleby 10
questions about their party and
what they hoped to accomplish
if elected to the post.
_ The other candidate for the
position, Englerston MP Glenys
Hanna-Martin, proved to be
elusive when the opportunity
was extended to her.

While these three persons
have officially declared their
interest, preliminary discussions
on the floor of the convention
yesterday indicated that the
field may widen on nomination
day as other persons may be
nominated for the chairman-
ship.



Q: What is the role of a party
chairman?

Omar Archer: “The role of a
party chairman is to reorganise
the party and ensure that it is in
a position to be expanded. The

chairman

10 questions to PLI
hopefuls



party chairman must also keep

Elcott Coleby

Omar Archer



Monday, 25 February from 10am-5pm
at the Harbour Green Shops at Lyford Cay






trunk show
t

a
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Sinited,





Tel: 362-6527





Tuesday, 26 February from 10am-5pm
at the Bayparl Building, Parliament Street



the party members and sup-

porters united and he/she serves
as the inside person who keeps
everything running smoothly.”

Elcott Coleby: “The party
chairman’s role is to be the chief
operations manager in the par-
ty. The chairman oversees the
day-to-day operations of the par-
ty and is the glue that holds the
entire system together. The chair-
man ensures that everyone is of
one accord and keeps the party
unified. The chairman is also
responsible for making sure that
all hands are always on deck.”

Q: What do you feel best
qualifies you for the position?

Omar Archer: “I have a burh-
ing desire to bring about posi-
tive change and I have the pas-
sion and drive which is essential
to successful leadership”

Elcott Coleby: “I think that I
am best qualified because I am
an operations expert. I am
schooled and trained in this
field. Also, I know how the par-
ty works and runs. I know the
ins and outs of the entire party,
having worked behind the
scenes for a number of years.
In addition, my roots are in the
PLP. My family has been an
integral part of the party since
its inception.

Omar Archer: “There are
too many guns on the streets
and crime is spiralling out of
control. In addition, prison
reform and rehabilitation are
extremely important because
they are tied to crime, guns, and
the urgent need for positive
change in the Bahamas.”

Elcott Coleby: “Crime is the
most pressing issue facing the
Bahamas. It is a social issue that
must be addressed at the social
level. Alternatives must be
offered to the youth.”

— Q: Are you happy with the
current state of the party?

Omar Archer: “No, because
we are not in government.”

Elcott Coleby: “There is
always room for improvement.
As a party we must continue to
grow and not become content
with the current state of things.
Times change, so we must
change to stay on top of things.”

Q: Are you. happy with the
party’s leadership?

Omar Archer: “I am confi-
dent that Perry Christie has the
skills needed to take this party
to the next level. He has a great

vision for the future and a drive

to get there.”

rent leader is capable of doing
an excellent job.”

Q: Why did your party lose
the last election?

Omar Archer: “We lost
because we lost focus on the
ultimate goal. We did not lose
because of dwindling support,
we lost because of internal
problems within the party. Our
vision was blurred and the focus
was not clear.”

Elcott Coleby: “We lost
because we did not take care of
our base. We were not as solid

as we could have been coming -

up to the general elections.
Many factors were in our favour
but when it came down to it,
we had internal problems that
caused us the election.”

Q: How will you prepare the
party for the next general elec-
tion?

Omar Archer: “I will prepare
the party by getting people
involved. Our campaigning
starts now. We must show the
people that we have our vision
back and as chairman I will
keep the party focused on the
ultimate goal that we wish to
achieve. I intend to show the
party and the Bahamian peo-
ple that I am serious about

Q: What is the most pressing
issue facing the Bahamas at this
time?

bringing positive change.”

Elcott Coleby: “Yes, the cur-

Dealing with election defeat
and charting way forward
‘main issues at convention’

m@ By PAUL G TURNQUEST
Tribune Staff Reporter
pturnquest@tribunemedia.net

COMING to grips with their defeat at the
polls on May 2, 2007, and charting the way
forward will be the main issues discussed at
the PLP’s 50th convention, which starts today.

According to Paulette Zonicle, who is coor-
dinating the convention with PLP MP for West
_ End and Bimini Obie Wilchcombe and Con-
taza Adderley, the party has to deal with these
issues if it hopes to regain the government in
2012.

“We are going to deal with the issue of our
defeat, and we are going to deal with the way
forward. We are not going to dwell on it. We
know that we’re in opposition and we have
accepted that. We are now moving on. We’re
making preparations to take back the govern-
ment in 2012.

“We realise that if we want to take it over we
can’t wait until 2011 or 2010 to do it. We have
to do it now. And so we are preparing our-
selves to (become) the government of the
Bahamas once again,” she said.

While there has been some speculation about
possible challenges to the posts of leader and
deputy leader, Mrs Zonicle said she highly
doubts that any such contests will emerge at
this convention.

f

“Oh no, no. The PLP is unlike any other
political party, and no matter what you hear
outside, we do not cannibalise each other. It’s
a sacred oath that we have taken, and while we
may differ, we are very protective of each oth-
er when it comes to things like that.

“And so we are very proud of Mr (Perry)
Christie, and Madam Deputy (Cynthia Pratt),
and we will continue to stand behind them as
we move into this convention,” she said.

As the PLP enjoys a very large delegate base,
Mrs Zonicle said that almost 3,000 stalwart
council members and delegates from around
the islands are expected to attend the conven-
tion over the next few days.

“Delegates started arriving as early as Sun-
day. The final group of delegates will be arriv-
ing either this evening or first thing in the
morning.

“We have nomination of party officers
tomorrow afternoon after the luncheon break,
and then we have voting of officers all day
Thursday from 9am until 2pm,” she said.

Today at 10am, outgoing party chairman
Raynard Rigby is expected to deliver his swan
song speech as chairman of the PLP.

Following this, a presentation showcasing 50
years of the PLP in convention will be made,
after which party leader Mr Christie will
address those attending on the review of the
general election and “the way forward.”

ys

Elcott Coleby: “I will bring
the party together and solidify
our base so that we will be
ready for the next election. I
will make every effort to rectify
issues that have held or are
holding us back so that we can
move forward in the faith and
confidence that we will not let
the Bahamian people down.”

Q: What does your party
offer that others do not?

Omar Archer: “The PLP
offers a clear vision, new focus
and new energy for the future —
traits that can only be found in
the PLP. We have a love for the
Bahamian people.”

Elcott Coleby: “The role of
government is to empower and
improve and we as a party are
capable of doing just that.”

Q: What do you hope most
for the future of the party?

Omar Archer: “I hope for
longevity and the continuity of
unity within the party.”

Elcott Coleby: “I hope that
the party will become more effi-
cient.”

Q: What is your main hope
for the future of the country?

Omar Archer: “I hope that
we will learn to live as one. We
are moving forward, upward,
and onward, but we are not
doing it together. That is where
our problem lies. With the PLP,
the Bahamian people won't be
doubtful, but hopeful.”

Elcott Coleby: “I hope that
the country will really be the
best little country in the world.”

Sachin Ahluwalia of Ankasa will be introducing

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the Spring 2008 collections





SAS



















PAGE 4, WEDNESDAY, FEBRUARY 20, 2008

THE TRIBUNE



EDITORIAL/LETTERS TO THE EDITOR



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

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Debate on ‘numbers’ has begun

THE DEBATE is on!

Prime Minister Ingraham sent up a trial
balloon last week — either enforce a law that
is being broken daily or abolish it.

Opposition to its abolition is coming from
the expected quarters — the Baptist Church,
which is anti-gambling.

Speaking in the House last week on the
appointment of a select committee to exam-
ine the high level of crime, Mr Ingraham said
he wanted the committee to consider the
gaming laws — specifically the numbers busi-
ness.

“Are we going to have what is supposed to
be an illegal activity openly flaunted in the
society every day by thousands of Bahami-
ans?” he asked. And concluded: “We must
either enforce the law or change it.”

He said he had told the Commissioner of
Police that he is considering legalizing gam-
bling in the Bahamas for citizens and resi-
dents. .

Mr Ingraham said that Commissioner Regi-
nald Ferguson did not support his thinking on
this, “but the reality is,” said the prime min-
ister, “it is not an enforceable law.”

The police probably believe that an updat-
ed law on the statute books to include the
sophistication of today’s gamblers could be
enforced.

At present nothing can be enforced. The
archaic laws that now exist — laws designed
to catch the little man hustling numbers on
street corners with a scratch pad and stubby
pencil, the “numbers paraphernalia” — are
not the tools for the job.

Today we are into computers and cyber
space. Laws will have to be crafted to allow
the police to download these highly technical
creations to find their “paraphernalia” to
take to court as evidence.

There are those who believe that instead of
wasting time trying to abolish the law, time
could be better spent creating enforceable
laws.

The Bahamas Christian Council, a Baptist
stronghold, has made it clear that such sug-
gestions from the head of state cannot be
tolerated. Not only does the Council oppose
the legalisation of gambling, but it also oppos-
es the creation of a national lottery.

“We urge the prime minister and his gov-
ernment,” said the Council, “to reinforce the
law as it stands on the operation of numbers
houses as they are illegal.



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“Furthermore, legislation should be put in
place to control the number of web shops
that are opening.”

And a former PLP niinister in the Pin-
dling government wished the government
luck in its attempt to legalise gambling, but
felt that it was fighting a losing battle.

On a radio talk show former PLP Exuma
MP George Smith said that about 20 years
ago Sir Lynden Pindling tried to introduce
similar legislation, but had to back down
because of religious leaders.

Mr Smith said that a Bill was before Par-
liament when Paul Adderley was finance
minister to establish a board to legitimize
the numbers business.

The money, he said, had been earmarked
for education, sports and health services.
However, the heat put on by the church
forced Sir Lynden to withdraw the Bill.

The Nassau Guardian did an interesting
interview with several local numbers opera-
tors. The “King” of the pack laughed at the
idea of enforcing the law. He felt to crack
down now on numbers was not only hypo-
critical, but “a big joke.” Wasn’t the late Per-
cy Munnings, the king of them all, not only
the Treasurer of the PLP, but a generous
donor to its political coffers during the party’s
early years?.

He said that everyone in the numbers busi-
ness today is “paying for his window.”

He explained: “I mean once you pay your
people, nobody will bother you. Most of my
customers are police. All the big money mak-
ing from numbers is from police, big time
politicians and government workers. Every-
one else is only be giving us a quarter, 50
cents or a dollar.”

No wonder the numbers operators are
laughing, not only has their business grown,
but it has taken over. °

“It is embarrassing,” said a Bahamian,
“we have allowed it to become a sub-culture
and now it is going to be difficult to eliminate.

“But if we use this as a reason to capitu-
late, and let their culture take over, then we
have lost our country.”

Since the web shop operators have become
so brazen that they have hung out their signs
for business, it would be interesting to know
if they pay a business tax like the rest of us.

One way or the other legislation has to be
introduced, either to eliminate the business or
to strictly regulate it.





CORNER, P.O.



Nassau, Bahamas.








sing.
as







ess,

rrEVEN NN




What will
The Bahamas

EDITOR, The Tribune.

THERE is a growing uneasi-
ness, maybe even a fear, that
the Bahamas as we know or
knew it will not exist in the next
10 years.

During the PLP administra-
tion much was made of mega

anchor projects which would,

bring some $20 million to the
Bahamas.

If this was accurate, one must
wonder what they would be.

We hear much about the
exalted Kerzner International
development on Paradise
Island.

But if one truly looks at Par-
adise Island now, one would
clearly see that what Sol Kerzn-
er has created and developed
on that Island is a playground
for the mega rich and rich.
Slowly but surely the Bahamian
is excluded unless you fall with-
in one of the servant categories.

Is this what the Bahamian has
to look forward to for his future
in the guise of economic pros-
perity?

The temporary transient con-
struction job? The job as maids,
gardeners door keepers, etc?

On Paradise Island, you have
to be extremely wealthy to
maintain residence.

Other areas on Paradise
Island are slowly being con-
sumed by Kerzner Internation-
al.

Or is the fate of the Bahamas
in projects like Bar Mar, Albany
and Cove House in the West of
the Island?

These projects appear to have
been approved along with the
diminution of the existing rights
of the Bahamian home owners
in the areas.

For example, after Bar Mar is
completed with its proposed
development (which has
enlarged and changed dramati-
cally from its first presentation),
will there be another Kerzner
at the north western end of the
island where the Bahamian will
no longer be allowed to go
through the area?

Will all Bahamians at the
western end of the island be
forced to use the airport or air-
port or Coral Harbour roads?
Another gated and secured area
where the only Bahamians
allowed in or out will be the
employee?

Or Albany where after the
construction of the private
homes, the only real and last-
ing jobs will be those for house
or yard work and maintenance?

Or the Cove House on West
Bay Street, immediately north
of “Nirvana” where the Town
Planning Committee of the

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BOX N-8566, NASSAU, BAHAMAS, _ is
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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 13TH day of FEBRUARY, 2008 to the Minister
responsible for Nationality and Citizenship, PO.Box N- 7147,

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OasMeas

letters@tribunemedia.net



Ministry of Works has approved
the development of at least five
apartment/condo complexes
with a minimum of 120-240
units sitting on an area of less
than four acres.

What is the benefit of this
development to the residents of
West Bay Street or indeed in
the long term, the provision of
jobs for Bahamians?

No doubt, this too will be an
area of homes for the wealthy
seasonal resident who will
require little or no full time
Bahamian staff.

Note well that this develop-
ment is also approved in an area
where the majority of property
owners have restrictive
covenants on their properties
limiting development to single
family dwellings. |

How do these projects get
approval without any consulta-
tion with the residents of the
areas?

One observant and brave per-
son submitted a query to The
Tribune about the monstrosity
which is currently under con-
struction on Paradise Island and
questioned what happened to
the regulations/covenants as to
heights of structures or the
building code on that island. No
answer from any governmental
or private entity has yet been
forthcoming. Instead all we are
fed are political rhetoric about
events long gone.

Prime Minister Ingraham in
an article in The Tribune dated
January 26, 2008 is quoted as
having said: “Our commitment
to create jobs and new business
opportunity in our country will
not get in the way of our greater
commitment to protect nation-
al interests.

“It is in your interest that
development approved by us
result in the creation of a com-
munity that we, the Bahamian
people, want....(the FNM gov-
ernment, the Prime Minister
said, is striving to create a coun-
try where Bahamians are able
to afford prime residential and
commercial land for develop-
ment, are able to access Crown
Land at preferential rates for
residential, agricultural and
commercial development, and
will continue to have access to
beaches, the shore line and
open green.spaces for recre-
ational purposes.

The administration, Mr Ingra-
ham said, “envisions a country
where Bahamians are assured
that the environment will be
safeguarded, will know that
their history and their heritage
is valued and treasured, will see
education and health receive
the focused attention of the gov-
ernment and will know that
their human, civil and social
rights are respected and that
their protection is guaranteed.”

If this is true, and is indeed
the guarantee of the FNM gov-
ernment, then why are the
Bahamians being subjected to
the gradual but real loss of their
human, civil and social rights as
evidenced by the slow emer-
gence of these “anchor/devel-
opments”?

be in 10 years?

Who are the real employees
in these developments?
Bahamian?

Why are current property
owners finding that the single
family lot next door or two lots
away has been given subdivi-
sion approval for a small devel- |
opment next door.

Is this too under the guise of
creating jobs for Bahamians?

Let us be real! We know that
at maximum, whatever jobs are
created from these
projects/developments, the loss
to the Bahamian of his right to
the enjoyment of his country
and areas of the island where
they and their forefathers
heretofore had freedom of
movement and association will
be forever lost.

These “projects” appearing
under the guise of “develop-
ment” or “foreign investment”
are no more than enterprising
foreign persons who come with
speculative adventures to attract
the use of the massive amounts
of disposable money of the
wealthy, to exploit the reputa-
tion of the paradise known as
The Bahamas.

These persons may or may
not come to live in The
Bahamas.

But their expensive condo-
miniums will be rented and
managed by realtors or others
in The Bahamas and all expat
workers will, as a part of their
benefit for moving to the
Bahamas, insist on their
employers paying the exorbi-
tant rents requested, thus cut-
ting out the real Bahamian
entrepreneur who has built a
few units for rent as a means of
having an alternate income to
the “salary”. So even in this
regard, the Bahamian loses.

Well, Mr Major, Director of
Physical Planning, can you
assure the Bahamian that when
you and the Committee
approves these projects under
the guise of “development” you
have asked the Bahamian if that
is the kind of development that
they want.

Mr Minister of Works, are
you satisfied that when your ©
departments have carried out
their investigations, that they
have done so with the will of
the average Bahamian in mind?

Mr Prime Minister, are you
satisfied that the human, civil
and social rights of every
Bahamian are respected and
guaranteed?

If not, then, sirs, you have
done the Bahamian people a
grave and irreparable disser-
Vice. :

The Bahamas needs leaders
who will not just use nice words,
but who will show by action that
they work to ensure the human,
civil and social rights of the
Bahamian are respected and
guaranteed.

Could this be one of the
underlying causes of the
increase in violent crime in this
country?

Interested to see who will
answer.

FURIOUS BAHAMIAN
Nassau,
January 27, 2008.

Christian Council should fight
for the equality of Bahamians

EDITOR, The Tribune.

WITH regard to The Christian Council’s position on gambling,
please allow me to remind them that gambling in The Bahamas is
already legal. It is just not legal for Bahamians. So the bigger issue
is why after 40 plus years of Majority Rule and 30 plus years of Inde-
pendence, Bahamians are still second class citizens in their own

country.

Since the Christian Council is opposed to gambling, are they
going to call for the closure of all Casinos and the outlawing of Casi= ~~
no gambling for non-Bahamians and hence the unemployment of
thousands? Or are they okay with double-standards?

Imagine buying a brand new 42” High Definition Plasma tele-
vision and inviting your neighbours to watch it, but refusing to let
your children enjoy it. That is how the average Bahamian must feel
when he sees how non-Bahamians can come to this country and
enjoy privileges which Bahamians cannot.

Personally I don’t gamble, therefore if and when Numbers
become legal, I will not engage in it.

What the Christian Council ought to fight for is the equality of
Bahamians in their own country — even if it includes the right to

gamble.

KENN MORTIMER
Nassau,
February 18, 2008.
THE TRIBUNE

WEDNESDAY, FEBRUARY 20, 2008, PAGE 5



© In brief

Discontent is
‘nursery bed
of change’,
says Bishop
Simeon Hall

Bishop Simeon Hall



THE Bahamas will continue
on its downward spiral unless
there is a new national resur-
gence of discontent which was
common in the 1950s and
1960s, well known Baptist
preacher Bishop Simeon Hall
said in a statement yesterday.

“Discontent is the nursery
bed of change and change is a
result of new thinking. A new
mindset towards social
progress and development is
needed to pull the Bahamas
into the 21st Century,” he
said.

Bishop Hall said that both
political parties seem unable
or unwilling to complete the
social revolution of the 1960s,
“because they continue to
think only as far as the next
election rather than the next
generation.”

“There are yet some
Bahamians who never got the
promised ‘square deal’ and a
growing number for whom
things are not getting better,
better — but bitter, bitter.

“Forty-one years after
Majority Rule our public ser-
vice stinks and is corrupt; our
judiciary is slow and anti-poor;

our educational system 1s.
shameful; foreigners are.

favoured by our national poli-
cies more than Bahamians and
a national spirit of social
lethargy prevails — these all
make for continued social
decadence and national
unease,” Bishop Hall said.

Sensitive Baha
Mar land
zoned ‘no
build’ area

THE government is zoning
Baha Mar’s 71.40 acres of
environmentally sensitive
land, situated on the western
side of Malcolm Avenue, as a
“no build” area and designat-
ing it for use as a public park
only, Prime Minister Hubert
Ingraham said Monday in the
House of Assembly as he
tabled the Supplemental
Heads of Agreement.

Baha Mar is expected to
invest a minimum of $1 mil-
lion in improving and devel-
oping the park for appropriate
recreational use and as a wild
life and wetlands sanctuary.

The prime minister said that
Baha Mar will also donate $1
million to a trust for the per-
petual maintenance of the
improved site. .

The trust will be managed
by the Bahamas National
Trust or by another entity
agreed to by the government
and Baha Mar.

‘Remediation
costs to be
shared’ — PM

THE Supplemental Heads
of Agreement provides for
Baha Mar to assume respon-
sibility from the Hotel Corpo-
ration of the Bahamas for the
balance of the oil spill clean-
up at the former Radisson
laundry facility site, Prime
Minister Hubert Ingraham
said on Monday in the House
of Assembly.

Oil spillage occurred both
prior to and since the sale of
the property.

“It is reasonable for both
the Hotel Corporation and
Baha Mar to share in the costs
of remediation,” the prime
minister said.

AFTER THE US BEEF RECALL, LOCAL SHOPS SEND AN ASSURANCE TO PUBLIC

eat is safe, stress

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

IN LIGHT of the recent
recall of 143 million pounds
of beef products from the US
market by the United States
Department of Agriculture,
local food stores are assuring
the public that their products
are safe and have not been
affected by the statewide
recall.

On Sunday, the US Depart-
ment of Agriculture ordered
the recall of 143 million
pounds of frozen beef from a
California slaughterhouse that
provided meat to school lunch
programmes. The recall will
affect beef products dating to
February 1, 2006, that came
from Chino-based West-
land/Hallmark Meat Compa-
ny.

Yesterday, executives from

both City Markets and the

SuperValue food stores
assured the public that they
have never purchase any beef
from the Westland/Hallmark
Meat Company.

“We don’t purchase any
meat from that plant. We are
totally clean and above board.
We don’t purchase from per-
sons who use such primitive,
inhumane methods to slaugh-
ter.

“They were prodding those
animals to make them stand
up. That’s wrong,” said Mr
Dominique Butler, meat man-
ager at City Markets.

Speaking on behalf of Super
Value, Mr Clifton Fernander,
the perishables buyer for the

entire SuperValue chain, said |

that all of their beef is import-
ed through a‘company in







A WORKER throws a piece of meat among cattle carcass scraps dropped into a truck at the Hallmark Meat Packing slaughterhouse in Chino, Calif.



ian food stores

ADamian Dovarganes,r/AP Photo

in this Jan. 30, 2008 file photo. The U.S. Department of Agriculture on Sunday recalled 143 million pounds of frozen beef from from Chino-based
Westland/Hallmark Meat Co. a Southern California slaughterhouse that is being investigated for mistreating cattle.. -

Florida called Associate Gro-
cers. “We have contacted our
supplier and they have never,
never bought from these sup-
pliers. We just want the public
to know that it is safe to buy
beef from SuperValue,” Mr
Fernander said.

US officials said this nation-
wide recall was the largest
beef recall in the United
States, surpassing a 1999 ban
of 35 million pounds of ready-
to-eat meats. As no illnesses

Irish govt approves
$2.4m contribution

to the OSI

THE Irish government has
announced its approval of a
$2.4 million contribution to
the Caribbean Catastrophe
‘Risk Insurance Facility
(CCRIF), which will benefit
16 countries in the region,
including the Bahamas.

The contribution is the lat-
est addition to the donor fund

‘supporting the CCRIF, which

was launched at.a donor
pledging conference in Wash-
ington, DC, in February 2007.
The fund was able to raise $70
million in its first year.

Prime Minister Hubert
Ingraham, who serves as the
current chair of CARICOM
expressed his appreciation on
behalf of the CCRIF member
governments for the Irish
Government’s contribution.

“The consequences of cli-
mate change are severe for
Caribbean governments, par-
ticularly increasing our expo-
sure to natural disasters and
making pre-disaster planning
paramount. The additional
funds contributed by Ireland
will further strengthen the
facility and thus the Caribbean
governments it serves,” he
said.

Brendan Ryan, the Irish
government’s senior advisor
to the executive director at the
World Bank said that the deci-
sion to support the CCRIF
was taken late last year.

“The success of the Facili-
ty’s first year bodes well for
its future. Our donation is a
signal of the faith the Irish
Government has in the Facil-
ity and a show of support for
the Caribbean governments
that have taken a pro-active
stance towards disaster risk
mitigation by becoming mem-
bers of the CCRIF,” he said in
a statement.

Last year pledges totalling
$47.7 million were made by
Canada, the World Bank, the
United Kingdom, France and
the Caribbean Development
Bank. A further $19.5 million
was raised in the form of a
participation fee from each
CCRIF member country.





In thanking the World Bank
for facilitating the donation,
Milo Pearson, chairman of the
CCRIF board of directors
said: “This further donation is
important, not only because
of what it signifies, but also
because of the impact it will
have in building our reserve
pool.”

The CCRIF is the first mul-
ti-country risk pool in the
world, and is also the first
insurance instrument to suc-
cessfully develop a paramet-
ric policy backed by both tra-
ditional and capital markets.

It is a regional insurance
fund for Caribbean govern-
ments designed to limit the
financial impact of cata-
strophic hurricanes and earth-
quakes to Caribbean govern-
ments by quickly providing
financial liquidity when a pol-
icy is triggered.

The 16 countries that count
themselves members of the
fund are: Anguilla, Antigua
and Barbuda, the Bahamas,
Barbados, Belize, Bermuda,
the Cayman Islands, Domini-
ca, Grenada, Haiti, Jamaica,
St Kitts and Nevis, St Lucia, St
Vincent and the Grenadines,
Trinidad and Tobago and the
Turks and Caicos Islands.

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have been linked to the newly
recalled meat, officials said the
health threat was likely
“small”.

The Secretary of Agricul-
ture, Mr Ed Schafer, said in a
statement that his department
had evidence that Westland
did not routinely contact its
veterinarian when cattle
became non-ambulatory after
passing inspection — a viola-
tion of health regulations.

“Because the cattle did not



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inspection, Food Safety and
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US Federal officials have
suspended operations at the
Westland/Hallmark plant after
an undercover video from the
Humane Society of the United
States surfaced showing crip-
pled and sick animals being:

SQ

shoved with forklifts. Author-
ities said that the video
showed workers kicking,
shocking, and otherwise abus-
ing “downer” animals that
were apparently too sick or
too injured to walk into the
slaughterhouse.

Two former employees
have already been charged,
and a former pen manager
was charged with five felony
counts of animal cruelty and
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PAGE 6, WEDNESDAY, FEBRUARY 20, 2008

THE TRIBUNE



ee ie ST ae ea a
accuses government of

National Youth Service

Suspected
hoat thieves

Stolen vessel

@ By DENISE MAYCOCK
Tribune Freeport
Reporter
dmaycock@tribunemedia.net

FREEPORT - Two sus-
pected boat thieves were

apprehended at sea on boarda

stolen vessel near the Lucayan
Waterway on Sunday.

The male suspects, ages 31
and 18 years, both of Garden
Villas, are in custody assisting
police with their investiga-
tions.

Chief Supt Basil Rahming
reported that a team of marine
patrol officers spotted a vessel
that was reported stolen
around 8.25am on Sunday at
Marsh Harbour, Abaco.

According to reports, Timo-
thy Roberts of Abaco report-
ed his 21-ft Paramount speed-
boat, valued at $20,000, stolen
from the Rich Boat Rental
dock in Marsh Harbour some-
time between 6pm on Satur-
day and 8.20am on Sunday.

Mr Rahming said the infor-
mation was passed on to all
police in the northern
Bahamas.

Sometime around 9.15am,
police on Grand Bahama
received information that the
stolen boat was spotted off the
southern coastline of the
island traveling at full speed
towards Freeport.

Marine Division officers
were immediately dispatched
and intercepted the stolen ves-
sel around 9.50am in the vicin-
ity of the Grand Lucayan
Waterway.

As a result, police arrested
two male residents of
Freeport.

Police are also investigating
the attempted theft of a sec-
ond speedboat at Abaco on
Sunday morning.

Mr Danilo Mills of Spring
City reported that sometime
between 2.30pm Saturday and
8.20am Sunday, someone had
attempted to steal his 30-ft
Wellcraft boat.

The vessel was also docked
adjacent to the Rich Boat
Rentals.

Culprits had cut the ignition
wires but were unable to start
the engines.




PLP youth arm

apprehended on

‘tearing down’

THE youth arm of the PLP
yesterday accused the FNM
of “tearing down” the Nation-
al Youth Service and blamed
the government for “gutting
and bastardising” the Urban
Renewal programme “until it
is only a caricature of its for-
mer self.”

The Progressive Young Lib-
erals (PYL) in a press state-
ment yesterday said that they
were appalled at hearing
Prime Minister Hubert Ingra-
ham’s remarks on the Nation-
al Youth Service, which was
implemented under the for-
mer Christie Administration

GB FNM Council to
honour C A Smith

@ By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT - The Grand |
Bahama FNM Council will hon-
our former Cabinet minister C A
Smith for his “lifetime of service”
to the Bahamas at a special tribute
event next month.

David Thompson, chairman of
the FNM Grand Bahama Council,
told the media that the event is
planned for April 5 at the Xanadu
Beach Hotel at 7.30pm.

The theme of the evening will
be “Mr Smith Goes to Washing- |
ton.” .

Mr Thompson said that Prime “nr :
Minister Hubert Ingraham will PRIME MINISTER Hubert
attend the event and give special Ingraham will attend the event.
tribute to Mr Smith.

“Tt will be a night of tribute, praise, appreciation and celebration,”
he said at a press conference on Monday at the Sir Cecil Wallace-
Whitfield Community Centre.

Parliamentarians, former parliamentary colleagues, supporters,
friends and family, former constituents and the general public are
expected to attend.

Mr Smith was officially appointed as Bahamas Ambassador to the
US in Washington, DC, in October, 2007.

Prior to his involvement in politics, Mr Smith was a former edu-
cator. He entered frontline politics and served for many years as the
MP for Pine Ridge in Grand Bahama.

He also served as a Cabinet minister and was appointed on
many public and private boards.

Mr Thompson said that Mr Smith has served his country for
many years and has touched the lives of thousands of people.

He said that there will be fun-filled activities, raffles, reflections,
and tributes paid to Mr Smith at the April 5 celebration.

The FNM is encouraging the public to attend the special event for
Mr Smith to show appreciation for his many years of dedicated ser-
vice to the country.



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and directed by talk show host
Jeffrey Lloyd.

“It appears that Mr Ingra-
ham has interest in cutting the
National Youth Service
because $871,000 is too much
to invest in a youth rebuild-
ing programme. We are sad-
dened by the fact that our
prime minister would de-value
the efforts of such a service
simply because the number of
youth participants isn’t as
large as he would like.

“We believe that progress
is made in this country if one
young person has decided to
change their course and head
in the direction of prosperity
and success,” the young liber-
als said.

The group said that often
programmes are implement-
ed with the intention of reach-
ing out to thousands of young
Bahamians at a time, “but fail
to reach one.”

However, the PYL said it
believes that if the country
were to take a more small-
scale approach, the effects
would be far more fruitful.

“This is what we have seen
in the National Youth Service,

in collaboration with the
YEAST (Youth Empower-
ment and Skills Training) pro-
gramme. The fact of the mat-
ter is that the programme, as
every other programme the
FNM has sabotaged, was
working.

“Mr Ingraham, however,



“It appears that
Mr Ingraham
has interest in
cutting the
National Youth
Service because
$871,000 is too
much to invest
in a youth
rebuilding ©

programme.”



The Progressive
Young Liberals

saw fit to place emphasis on
his position that saving the life
of a young man is not worth
$13,000 a year, and 65 lives
being changed for the better is
not a significant factor to, the
country’s overall growth,” the
young liberals said.

The PYL said that they sup-
port the National Youth Ser-
vice and commend the pro-
gramme for the difference it
has made in such a short time.

“It is quite apparent that
many young Bahamians are
attempting to redeem them-
selves in school and in other
aspects of their lives when giv-

en the chance,” the young lib-
erals said.

The group said that for the
FNM to support discussions
with youth on crime on the
one hand, and then have the
prime minister come back less
than a week later to “throw
away a group of young
Bahamians”, shows just how
disingenuous the government
is being.

“The youth of this nation
must be more than a photo
opportunity or a vote to win
for the FNM. These are young
lives that were being instruct-
ed in the right way by a pro-
gramme started by the
Catholic Church and support-
ed wholeheartedly by the PLP
while in government,” the
PYL said.

It is the view of the young
liberals that $13,000 is not
nearly enough to spend sav-
ing a generation of youth. The
group called on the govern-
ment to allow the programme
to remain intact.

“With many teens being
murdered and some in jail for
murder, the government
should seek to invest more
into the National Youth Ser-
vice rather than expressing a
disinterest in youth empow-
erment.

“This shows that they have
no concern or care for young
Bahamians and only view us
as window dressing and
votes,” the PYL said.

European movie is
expected to bring
economic boost
to Grand Bahama

m@ By DENISE MAYCOCK
Tribune Freeport
Reporter
dmaycock@tribunemedia.net

FREEPORT - The film-
ing of a new European
movie on Grand Bahama is
expected to bring some eco-
nomic boost to the island
next month.

The Bahamas Film Studios
announced that “Der See
Wolf”, a German-produced
movie based on Jack Lon-
don’s 1904 novel “Sea
Wolf”, will be filmed on
Grand Bahama in mid-
March at the film studio in
East End.

Diane McGonigal, manag-
er of Bahamas Film Studios,
said that film production will
provide jobs opportunities,
and directly benefit many
local businesses here.

The film studio is holding
open casting calls on Febru-
ary 23 at UNEXSO at 3pm
for 38 men and five women
to perform as extras and
background cast members
for the film.

According to film officials,
applicants should be at least
18 years old. They must pro-
vide a photo ID, and dress in
form-fitting clothing.

Preferred applicants would
be strong swimmers with
sailing experience. Fluency
in German is desired but not
required.

“The production (will) be
providing excellent oppor-
tunities for those who wish
to gain acting experience,”
said Ms McGonigal.

“There is so much talent
in Grand Bahama and we
are thrilled to showcase our
island in this film.”

She also said that the pro-
ject will also employ dozens
of Bahamians and will pro-
vide eight internships for
persons aspiring to film
industry careers.

Ms McGonigal said many

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local businesses will also
benefit directly from the
production.

She reported that the pro-
duction will be booking
approximately 3,000 room
nights with local hotels,
including the Pelican Bay
Resort.

The film executive also
noted that additional pur-
chases of goods and services
from local businesses will
have a far-reaching effect on
the economy.

Hofmann and Voges
Entertainment GmBH,
which is based in Germany,
will produce the film for
release in the European
market in late 2008.

Thomas Kretschmann,
who appeared in Peter Jack-
son’s “King Kong” and the
soon-to be-released motion
picture, “Transsiberian,”
among other film credits,
will be starring in the movie.

Anett Grunbeck, the film’s
production manager, said
that the Bahamas is the ide-
al location for the project.

“We are looking forward
to filming here in Grand
Bahama,” said Ms Grun-
beck, who scouted many
international locations for
the shooting.

“The island is very beauti-

its, will be starring in
~ the movie. (AP)



helpful. The Studio facilities
are working well for our
film, and we are very pleased
with the service being pro-
vided,” she said.

Ms Grunbeck also com-
mended The Bahamas Film
Commission for its support
of the film.

Bahamas Film Commis-
sioner Craig Woods said the
film will also bring signifi-
cant exposure to the
Bahamas.

“This is an exciting time
in Grand Bahama,” he said.

“Beyond the immediate
benefit of providing addi-
tional training opportunities
and jobs, the tourism prod-
uct will be promoted as well.

“When this film airs in
Europe, and viewers see the
natural beauty here in The
Bahamas, the result is
always positive for our
tourism endeavors,” he said.

The Bahamas Film Studios
at Gold Rock Creek offers
directors and producers a
superb location. It has one
of the largest state of the art
mega water tanks in the
world, which was used for
the filming of Disney’s
Pirates of the Caribbean II
and Ill. ,
THE TRIBUNE

WEDNESDAY, FEBRUARY 20, 2008, PAGE 7



Dame Marguerite
FROM page one

diovascular Surgery, and
Chief of the Surgical Service
at the Princess Margaret Hos-
pital, Dr. Williamson Chea,
consultant, General Surgeon,
PMH, Dr. Perry Gomez, her
private internist, and former
Chief of the Medical Service,
PMH, Dr. Karen Rowe, con-
_ sultant and anaesthesiologist,
PMH and spokesperson, Dr.
Conville Brown, consultant,
Cardiologist at the Princess
Margaret Hospital.

Officals expect to update
the nation this morning on
Dame Marguerite’s condition.

This is not Dame Mar-
guerite’s first stay in the hos-
pital. Last year, she was hos-
pitalised for nearly three
weeks after being admitted
complaining of acute abdom-
inal pain. It was speculated
that she had suffered from
pancreatitis. Her doctors
refused to confirm or deny the
reports, however. Character-
istic of pancreatitis is the acute
pain in the abdomen due to
inflammation of the pancreas.
It occurs suddenly and lasts
for a short time. At this time
it is not known whether this
most recent admittance to the
hospital is in connection with
her previous stay.

Dr. Conville Brown said
last year that even though
Dame Marguerite is a public
figure, she is not a civil ser-
vant and privacy should be
awarded to some aspects of
her life. She is most recog-
nized as the widow of the
‘Father of the Nation”, Sir
Lynden Pindling. She has
been described by her sup-
porters as being a critical part
of Sir Pindling’s political life.
She is active in a number of
charities and organizations in
the Bahamas, particularly the
Sir Lynden Pindling Founda-
tion which provides scholar-
ships to students from Andros
for entrance into the College
of the Bahamas.

Chairman
FROM page one

However Mr Roberts has
gone on record to state that
he will not be vying for the
post.
Roberts, another would-be
candidate, the former Mount
Moriah MP Mr Keod Smith
had indicated his intentions
to run for the position. How-
ever, Mr Smith has since
withdrawn his petition.

As The Tribune has pre-
dicted, the position of
national Chairman is expect-
ed to be the most highly con-
tested at the PLP’s conven-
tion today.

Official nomination will
begin at 2pm today and vot-
ing is expected to encompass
all of Thursday’s session. at
the Wyndam Nassau Resort.

Initial reports reaching
The Tribune have suggested
that Mr Gray was being lined
up by party Leader Perry
Christie to contest the chair-
manship in opposition to
Mrs Hanna-Martin — the
highest profile candidate so
far to declare interest in the
_ post. It was suggested that
Mr Christie would oppose
Mrs Hanna-Martin gaining
the chairmanship post as she
has been aligned with PLP
MP for West End and Bimi-
ni Obie Wilchcombe who is
rumoured to be seeking the
leadership of the party. Such
an alliance, sources said,
could hurt Mr Christie’s
chances of holding onto the
leadership of the party lead-

ing into a next general elec- .

tion.









FROM page one

the PLP’s 50th Convention.

Though she did not wish to
pre-empt what her husband
might say at the convention
about leadership issues in the
party, Mrs Christie did lament
how some have taken his
efforts for granted while he has
been at the helm of the PLP.

“I know personally, if I were
in his position, I think having
sacrificed what he has sacri-
ficed to build the organization
to. where it is, it’s a bit sad
when you see people trampling
on that, not appreciating,” she
said. “You know, sometimes
you may pause and say thank
you, as opposed to ‘all right,
it’s my turn, out you go’. So
there is a way to do things, and
he’s still got a lot to offer to
this country and I think it is
important that whoever the
next leader is — whenever that
might be — that they have the
heart of the party passed over
to them.”

She continued: “Because this
party is, you know, made up
of a lot of people who have a
lot of heart and soul in the
PLP, and if you come off with
the wrong spirit, and do things
in the wrong way, I don’t think
you are going to inherit the
heart of the party. And that
might be to your own deter-
ment. You might inherit a par-
ty, but you might not ever be
able to win a government. So,

LOCAL NEWS

Future leadership hopefuls ‘must
secure the heart of the party’

you want to be sure that you
do it the right way.”

During the interview, Mrs
Christie was very passionate
about the halt placed on the
National Health Insurance pro-
gramme by the FNM govern-
ment, which was championed
by her husband. She also
expressed frustration and dis-
appointment over the FNM
government's alterations to the
Urban Renewal programme,
which she thinks was a critical
intervention in the social devel-
opment of the Bahamas, and
an essential tool in the fight
against crime.

“From a national perspec-
tive, ] am disappointed that the
PLP is no longer in power. I
personally would have liked to
have seen National Health
Insurance be developed and
come into fruition,” she said.

“T think the Urban Renewal
programme was working.
Really, I think when we talk
about the social ills in the coun-
try, and we talk about crime,
people are just getting it.
They’re just realizing that
when you approach it, and
when you attack it at the root
level, that’s when you have
more success. And so I am
really disappointed in the
reversals of the Urban Renew-
al only, for the only reason that
it had Perry Christie’s stamp
on it. I think that was pretty
petty and small and short-
sighted.”

During the last election cam-

paign, the FNM strategically
branded Mr Christie as “slow”
and “indecisive.” Then Oppo-
sition Leader Hubert Ingra-
ham, shortly before the disso-
lution of the last Parliament,
even went as far as calling Mr
Christie “impotent” on the
floor of the House of Assem-
bly.

Of these criticisms of her
husband as “slow” and “inde-
cisive”, Mrs Christie said:

“He is definitely not slow, I
think he is methodical and he is
a consensus builder.

“A lot of people don’t appre-
ciate that, that’s a little bit
beyond them.”

Expanding on this point, Mrs
Christie referred to the saga of
Kenyatta Gibson. Mr Gibson
issued a scathing attack on the
PLP’s leader after Mr Christie
asked for his resignation from
the House, the day after Mr
Gibson resigned from the PLP.

“T think one of my criticisms
of him (Perry Christie) — and I
certainly, I have a different
type of personality than he

does — I don’t give people too ©

many second chances. That’s
been to his detriment.

“And you see now with the
issues of, say Kenyatta Gibson,
who God forbid, I mean he
should have been the last per-
son to have done what he di,”
she said.

“I know personally, you
know, the personal struggles
that my husband had with try-
ing to keep his dignity. Because

In. addition: to ;Mr,

Fidel Castro resignation

FROM page one

has not been seen in public since emergency
intestinal surgery forced the island’s leader to
temporarily cede power to his younger brother,

Raul Castro, 76.

* Under his leadership, Cuba has seen high lev-
els of health care and education while remaining
fully independent of the United States. However,
a strict regime has led hundreds of thousands of
Cubans to seek refuge in the United States and
other countries over the last 50 years.

Manuel Cutillas, a member of the Cuban exile
community in The Bahamas for the past 46 years,
told The Tribune yesterday many Cubans believe
the former president will remain the “Power
behind the throne.”

“I think in general the reaction is that at least
its proof that Castro is no longer able to be head
of government and take care of the day-to-day
affairs of government in the country. (Howev-
er) we don’t think that anything changes in Cuba
until he is completely out of the picture and (in
spite of his retirement) he will not be completely
out of the picture. He will be continue to be the
power behind the throne, even though he may not
be in charge of day-to-day affairs.”

Despite his retirement, the former president
will still have significant influence on Cuban pol-
itics. He remains a member of parliament and is
likely to be elected to the 31-member Council of
State on Sunday, though he will no longer be its
president. He also retains his powerful post as first
secretary of Cuba's Communist Party, according
to the Associated Press.

Critics of the Castro regime are pessimistic
that Raul Castro - Cuba’s imminent president -
will implement reform on the politically charged
island.

“There may be some mild reform implemented
especially in the area of economy, only because
the situation is so desperate in the county and the
people are fed up with the system,” said Mr Cutil-
las who believes real change will not begin in the
country until the Castro brothers are completely
out of government.

‘At a press conference Tuesday while in Rwan-
da, President of the United States George Bush
was asked what President Castro’s resignation
meant for US policy. He replied:

ote

Internation: Al

SL yfons
ee





“I view this as a period of transition; that — and
it should be the beginning of the democratic tran-
sition for the people in Cuba. I believe that the
change from Fidel Castro ought to begin a period
of democratic transition.

“The international community should work
with the Cuban people to begin to build institu-
tions that are necessary for democracy. And even-
tually, this transition ought to lead to free and fair
elections — and I mean free and I mean fair, not
these kind of staged elections that the Castro
brothers try to foist off as being true democracy.”

Throughout his political career, Fidel Castro
has been a vocal opponent to American policies.
As Cuba’s unchallenged leader since 1959, Castro
is the world’s longest reigning head of state, with
the exception of monarchs.

Despite his physical absence from the public
eye since July, 2006 former president Castro has
maintained contact with the public through a
number of essays on Various topics that he has
written from time to time.

Inquiries about status of
Alfred Gray legal action
FROM page one

from the vicious allegations made against me
recently in the media.”

He did not name the two newspapers he said he
planned to sue.

“Tam certain that my enemies have brought me
to it, but God will take me through it,” he said.
“This is my final statement on this matter and |
will now allow the legal process to take its
course.”

Messrs Mitchell and Gray refused to answer
reporters’ questions and in addition Mr. Mitchell
denied reporters’ requests for copies of the writ.

After the conference, a Tribune reporter was
sent to the Registry to get a copy of the writ,
however, he was refused on the grounds that
“the documents could not be made public until
the parties had been served.”

As of today’s date no writ or other originating
process has been served on The Tribune.

he recognized that as a young
man, you know, when you
make a mistake, you don’t
squash somebody.

“And here is a man like that,

having gone through that expe-

rience with a leader like Perry
Christie, to do that to the orga-
nization and to Perry Christie,
you know, personally, he
wouldn’t have had a second

chance with me. No, that’s the
way Iam.

“So, that I don’t really like
about my husband, but you
know five ten years down the
road and I look back and I
always say that he was right to
do things the way he did it.

“So you know, I suppose
that’s to his credit,” said Mrs
Christie.

Influx of Cuban immigrants
‘Will probably continue’

FROM page one

ed Acting President in July, 2006 after President Castro fell ill, is
expected to be the newly elected president when Parliament meets on

Sunday.

During an interview with The Tribune, Cuban exile Manuel Cutillas
said the feeling among most Cubans is there will be “more of the
same” on the politically charged island as the ex-president will remain

the “power behind the throne.”

A Cuban exile who fled President Castro’s regime in 1960, Mr
Cutillas believes as long as there is a glimmer of hope for a future of
freedom in countries like the US and The Bahamas immigrants will
continue to leave the Cuba in droves.

“As long as the situation remains as drastic and serious as it is, the
Cubans will continue to try and leave the country because that is the

only hope they have.

“When you talk to Cubans.and you ask them ‘what do you think of

the future’ and they say ‘the future is another country,

999

neighbouring

countries will continue to see an influx in Cuban immigrants.
Of the Cuban community’s reaction to Tuesday’ s monumental news,

Mr Cutillas said:

“I think in general the reaction is that at least its proof that Castro
is no longer able to be head of government and take care of the day-to-
day affairs of government in the country. (However) we don’t think that
anything changes in Cuba until he is completely out of the picture and
(in spite of his retirement) he will not be completely out of the picture.
He will continue to be the power behind the throne, even though he
may not be in charge of day-to-day affairs”.

President Castro was Cuba’s unchallenged leader since 1959. His
reign survived nine US presidents, several assassination attempts and
a five-decade long US imposed embargo on the island.

Interested parties speculate there may be some reform to Cuba’s
political landscape with the imminent presidency of Raul Castro.
However, Mr Cutillas believes these will not be dramatic changes.

“Dramatic change will occur when there is a free press, when peo-
ple can speak out freely without fear of being jailed, when Cubans will
be allowed to travel freely out of the country,” Mr Cutillas said.

Manuel Cutillas has made The Bahamas his home since 1961.

According to the US Department of Immigration’s website, tens of
thousands of Cubans attempt to enter the United States illegally every

year.

Several attempts were made by The Tribune to secure a comment
from relevant ministry officials, but up to press time calls were not

returned.

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Join us for a visual presentation evening to learn
more about our Secondary School (grades 7-12),
including our rigorous academic program, state of the
art technology platform, diverse student body and


PAGE 8 WEDNESDAY, FEBRUARY 20, 2008

THE TRIBUNE







INSTRUCTOR Dustin Ruth demonstrating arrest procedures with some of the law
enforcement participants at the RBDF Coral Harbour base.

ing procedures.

The course was designed to provide
Bahamian boarding team members with
classroom instruction and practical exer-
cises to conduct normal to high-risk board-
ing. The US instructors tailored the course
to meet the specific needs of the Bahamas
and to supplement previous training.



FACILITATORS of the advanced maritime law enforcement ‘raining course sated
from left: Chief Anthony Cirillo; Senior Lieutenant Clarence Dean; Lieutenant Glenn
Katsuki; Commander Michael Simmons; US Coast Guard Lt Cmdr Michael Fredie;
Lt Cmdr Cheryl Bethel and Lt Junior Grade Mary Heron flanked by course participants
at the RBDF Coral Harbour base.

MAIN DREDGING EQUIPMENT REMOVED IN FLOAT-ON OPERATION

30m Freeport Harbour
project is completed

THE $30 million-expansion,
deepening and reclamation pro-
ject at Freeport Harbour car-
ried out by Great Lakes Dredge
and Dock Company (GLDD),
LLC of Oak Brook Illinois, was
recently completed with the
removal of the main dredging
equipment in a major float-on
operation by engineers and
technicians of GLDD and
Freeport Harbour Company
(FHC).

Great Lakes were on site and
in position to start the work in
May 2007 and the works were
completed last week with the
GLDD dredge ‘Texas’ depart-
ing Freeport onboard the heavy
lift vessel the MV Tai An Kou.

The dredge involved the
removal of 1.5 million cubic
yards of fill.

Of that, one million cubic
yards represented the removal
ot the limestone peninsula pro-
truding into the harbour basin
to a depth of 54.12 feet or 16.5
meters.

The deepening of Freeport
Harbour will facilitate the
berthing of the largest contain-
er vessels in the world, including
those presently being designed
and built.

x
g

Re
RC ESE GREER

ARENA AA GGA) Se



RAE



RR MHS

BW AHANG ete

ER Red Wie) The cede involved the removal of 1.5 million cubic yards of fill.

To date, constructions of con-
tainer vessels are in excess of
11,000 TEUs (twenty-foot
equivalent units), and capacity
is increasing. These mega ships
will require deep water har-
bours.

FCP is one of the largest
man-made harbours in the
world and the deepest in the

region. On completion of Phase
V, Freeport Container Port will
be able to boast 16 quayside
super post panamax cranes; 94
straddle carriers; a berthing area
of 1,536m (5,040 ft); 63 Hectares
(153 acres) of stacking area and
2.4 million TEU annual han-
dling capacity.

Great Lakes Dredge and

Dock Corporation is the largest
provider of dredging services in
the United States and a major
provider of commercial and
industrial demolition services

FHC is privately owned and
operated by a joint venture
between the Hutchison Port
Holdings (HPH) Group and the
Port Group Limited.





Hutchison Port Holdings
(HPH), a subsidiary of the
multinational conglomerate
Hutchison Whampoa Limited
(HWL), is the world’s leading
port investor, developer and
operator with interests in 24
countries throughout Asia,
Pacific, the Middle East, Africa,
Europe and the Americas.




PHOTO: Pam Hall

FREEPORT Container Port engineers Franklin Moul-
trie, Leighton Robinson and Mark Rampersaud pose
alongside a Noell straddle carrier on which they
trained while in Noell Wuerzburg, Germany — home of
the world’s second largest manufactures of straddle
carriers.

FCP picks three employees for
overseas training programme

THE Freeport Container Port
(FCP), Grand Bahama, has selected
three employees from the engineer-
ing department to participate in a
special training programme over-
seas, further preparing them for the
Phase V expansion or the port.

Engineers Franklin Moultrie,
Leighton Robinson and Mark Ram-
persaud travelled to Wuerzburg,
Germany, for training on the Noell
straddle carriers.

Upon completion of their train-
ing, the engineers will be certified
to repair, maintain and train in all
aspects of the straddle carriers.
Noell Wuerzburg is the world’s

second largest manufacturer of

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straddle carriers.
straddle carriers have been con-
structed for the FCP at a cost of $13
million dollars at the facility in Ger-
many.

The first set of straddle carriers
are scheduled to arrive in Freeport
later this month and will be assem-
bled at the container port.

At completion of the Phase V
expansion, FCP will consist of an
additional 500m (1,640 ft) of berth,
six quay cranes, 35 straddles carriers,
14 Hectares (35 acres) of stacking
area and 230 reefer points at a total
cost of $250 million.

The container port is situated only
65 miles from Florida, is the natural



Some 15 Noell.



US Ambassador’s courtesy calls



trans-shipment hub for the eastern
seaboard of the Americas and the
principal east/west line haul routes
through the region.

The FCP is a member of the
Hutchison Port Holdings (HPH)
Group, a subsidiary of the multina-
tional conglomerate Hutchison
Whampoa Limited (HWL).

HPH is the world's leading port
investor, developer and operator
with interests in a total of 292 berths
in 46 ports, spanning 23 countries
throughout Asia, the Middle East,
Africa, Europe and the Americas.
HPH also owns a number of trans-
portation-related service companies.

US AMBASSADOR
to the Bahamas Ned
Siegel paid a cour-
tesy call on the Pres-
ident of the Senate
Lynn Holowesko on
Thursday, February
14, in the majority
committee room of
the House of Assem-
bly, Parliament
Street.



US AMBASSADOR
to the Bahamas Ned
Siegel paid a cour- fh
tesy call on Speaker |
of the House of
Assembly — Alvin
Smith on Thursday,
February 14, in the
majority committee
room of the House of
Assembly, Parlia-
ment Street.

oe



PHOTOS: Patrick Hanna/BIS



Law enforcement officers take part in advanced maritime course

LOCAL law enforcement officers last week
completed an intensive advanced maritime
boarding officer course.

The advanced maritime law enforcement
boarding officer training course was held at
the Royal Bahamas Defence Force
(RBDF) base in Coral Harbour from Jan-
uary 28 through February 8, 2008.

The intensive two-week course included
21 participants from the Defence Force,
the police, and Customs and Immigration.

The course provided participants with
extensive instruction supplemented by prac-
tical exercises in subject control techniques,
defensive tactics, arrest procedures, use of
deadly force, decision-making, and board-



en
Visual arts

awards
presented
to schools,

students

MINISTER of Education,
‘Youth, Sports Carl Bethel took
part in the presentation of
awards to schools and students
who participated in the Ministry
of Education art and design
unit’s 10th annual visual arts
exhibition

Speaking at the event on
Monday, Mr Bethel said his
ministry first introduced the
exhibition to develop awareness
of the discipline of art and to
provide students with an oppor-
tunity to display their art work
in a major exhibition.

He explained that the exhi-
bition was designed “to develop
school pride in the presentation
of artwork, to demonstrate

competencies using a wide vari-

ety of materials as well as to
demonstrate the components of
the art and design programme.”

Schools participating in the
exhibition ‘were awarded cer-
tificates presented by represen-
tatives from the Royal Bank of
Canada, which sponsored the
event.

The competition was divided
into three divisions: Junior high
schools, Family Island high
schools and senior high schools.

~The three top winners
received trophies for their
efforts.

In the junior high school divi-
sion, first place went to S.C
McPherson, second place went
to C C Sweeting and third place
went to L W Young.

In the Family Island division,
L N Coakley in Exuma took
first place with Jack Hayward
High School and NGM Major
High School taking second and
third respectively.

In the senior high school divi-
sion, first place went to C C
Sweeting, second place went to
Government High and third
place went to CI Gibson.

The 10th Annual Visual Arts
Exhibition is now showing in
the centre court of the Mall at
Marathon.

Mr Bethel said the Ministry
of Education constantly seeks
to provide high quality teach-
ing and learning experiences
and opportunities for students
to grow and become well-
adjusted, well- rounded citizens.

“Art is one of those subjects,”
he said, “that builds self-esteem,
fosters creativity and helps the
student to develop and acquire
an understanding of their cul-
ture and the world around
them.

“Combined with academic,
technical and vocational sub-
jects, the ministry is satisfied
that the students who take full
advantage of what is being
oftered, will indeed be able to
make meaningtul contributions
to their families and our country
at the end of the day.”

Minister Bethel added that
the field of art and design is
“wide open” and that there are
many jobs students could qual-
ify for as result of their artistic
ability and knowledge.

“You may be the next
Maxwell Taylor or Antonius
Roberts. You can become an
art teacher or graphic artist, or
you may even want to delve
into cartoon animation which
would allow you to work with
computer programmes or
become a fashion designer who
can cause our Bahamian labels
to be recognised abroad,” he
told the students.

Mr Bethel commended
Pamela Chandler, education
otficer for art and design at the
Ministry of Education, and her
team for organising the event.

4
WEDNESDAY, FEBRUARY 20, 2008, PAGE 9

Old Bahamain Lumber ss wae 7
Company Building i CT ;

¢ 188 Wulff Road 3
ENTERPRISES LIMITED

Store Hours: 7am-4pm PS }
Mon.-Fri. Zam-3pm - Sat. “Tiling the Bahamas”

| 19 Patton St. * Palmdale Tel: (242) 326-Tile(8453) » Fax: (242) 326-5461
MLE NCE a del ) BPO Ry a Cit GCL RO Gae m= esse en Ee URC E

THE TRIBUNE



AN

Excluding
NET ITEMS

Excluding The Paint Centre



! BUILDER'S

Old Seen Lumber Company Building ¢ 188 Wulff Road
‘Store Hours: 7am-4pm Mon.-Fri. 7am-3pm - Sat. ees

oN UNM -inireyN Cesk
PAGE 10, WEDNESDAY, FEBRUARY 20, 2008

Shuttle Atlantis =
aims for Wednestlay
landing; NASA
Says fo pressure =

m@ CAPE CANAVERAL, Fla.

AFTER nearly two weeks ;
in orbit, Atlantis and its crew
aimed for a Wednesday land-
ing on either coast to clear the
way for the military to shoot
down a dying spy satellite,
according to Associated Press.

Flight director Bryan Lun-
ney said Tuesday that NASA
was under no pressure from
the Defense Department to
hurry up the touchdown. He
stressed that Mission Control
would abide by the usual
weather rules and keep the
shuttle aloft until Thursday if
conditions took an unexpected
turn for the worse.

Favorable weather was
expected at Cape Canaveral
on Wednesday morning as
well as at the backup touch-
down site in Southern Cali-
fornia. NASA normally does
not activate the California
landing strip so early, but
wants to get Atlantis down if
at all possible to give the Navy
more time to take aim at the
satellite from a warship in the
Pacific.

The Pentagon has said there
is roughly a weeklong window
to shoot down the satellite
before it enters Earth’s atmos-
phere with a toxic load of fuel.
That window began early this
week.

It would be dangerous for
Atlantis and its seven-man
crew to descend through all
the debris generated by the
satellite’s destruction. The
international space station is
orbiting 210 miles up, higher
than the satellite and thus safe
from any of the expected
debris.

Shuttle commander Stephen
Frick said he and his co-pilot,
Alan Poindexter, are excited
about the satellite operation
and can’t wait to see how it
turns out. Both are Navy com-
manders.

LOCAL NEWS

Chairman of Bank of Bahamas

THE TRIBUNE



International is announced

MACGREGOR Robertson,
one of the country’s pre-emi-
nent business professionals
and former managing partner
of Deloitte and Touche, has
been elected chairman of the
Bank of the Bahamas Inter-
national.

Retired banker Peter
Thompson, OBE, has been
named deputy chairman. Both
men are considered pioneers
in their respective fields.

Mr Robertson and Mr
Thompson were elected to the
top non-executive posts at the
bank’s first board meeting fol-
lowing its annual general
meeting in late January — a
meeting at which sharehold-
ers heard reports of record
performance and strong asset
growth.

Shareholders elected nine
new directors and returned
hotelier Robert “Sandy” Sands
and financial secretary in the
Ministry of Finance Ruth Mil-
lar to the board. Paul
McWeeney, managing direc-
tor, continues in that capaci-
ty. .
“Bank of the Bahamas
International has performed
extremely well for sharehold-
ers who have demonstrated
their loyalty over the years,”
said Mr McWeeney.

“On behalf of the entire
executive and strategic man-
agement teams, | am pleased
to welcome Mac Robertson
and Peter Thompson to the
positions of chairman and
deputy chairman, respective-
ly, and to extend that welcome

MacGregor Robertson, former managing
partner of Deloitte and Touche takes role —





to all the new directors,” he
said. The bank’s year-end
results showed strong perfor-
mance in every category, with
a sharp increase in sharehold-
er value, net income of nearly
$11 million and more than
$110 million in growth of total
assets. Dramatic asset growth
highlighted its annual report,
the Bank said in a statement
yesterday.

Mr Robertson, a founding
partner of the firm that
evolved into Deloitte and
Touche, served as its managing
partner for the Bahamas and
Caribbean. He has served as
chairman of the board of
Bahamasair and the Bahamas
Development Bank.

Mr Robertson is also a
founding member of the

Bahamas Institute of Char-
tered Accountants, as well as a
member of both the Nova Sco-
tia Institute and Canadian
Institute of Chartered Accoun-
tants.

Mr Thompson is a retired
banker, having worked for
many years in the Bahamian
banking industry where he
served in a top executive posi-
tion. He has previously served
on the boards of the Bahamas
Electricity Corporation,
Bahamas Telecommunications
Corporation, Bahamas Quali-
ty Council and the Bahamas
Red Cross.

Mr Thompson was awarded
a Silver Jubilee Award from
the Bahamian government in
1998 for his contributions to
national development in the

area of financial services.

He was also awarded Officer
of the Most Excellent Order
of the British Empire (OBE)
in the Queen’s New Year’s

-Honours List in 2002.

Other appointments during
the first board meeting includ-
ed Laura Williams as corpo-
rate secretary and Yvette
Johnson as assistant secretary.

Directors elected at the
annual general meeting also
included businessman and for-
mer banker Wesley Bastian;
insurance executive Marvin
Bethel; attorney Ruth Bowe-
Darville; insurance executive
Patricia Hermanns; College of
the Bahamas educator Dr Pan-
dora Johnson; attorney Hartis
Pinder, and insurance execu-
tive Patrick Ward.



MACGREGOR ROBERTSON,
one of the country’s pre-emi-
nent business professionals
and former managing partner of
Deloitte and Touche, has been
elected chairman of the award-
winning Bank of the Bahamas
International.

Ministry of Education and
OAS to sponsor workshop

“My first thought when we
talk about that is, "Go Navy,’ “
Frick said.

Frick and his crew spent
nine days at the space station,
helping to install Europe’s sci-
ence lab, Columbus. Except
for the undisclosed illness of
German astronaut Hans
Schlegel, which delayed the
lab’s hookup, everything went
precisely as planned.

After leaving the space sta-
tion Monday, Atlantis experi-
enced a heating system failure
that knocked out four small
aft thrusters. The thrusters are
not needed for re-entry, but
to prevent any fuel line dam-
age that could hold up
Atlantis’ next flight, NASA
had the pilots point the
thrusters toward the sun.

Atlantis’ next mission is at
the end of August when it flies
to the Hubble Space Tele-
scope with a team of repair-
men. It will be NASA’s last
visit to Hubble.














ROBB CLC)
OU
Horse Show

THE Rotary Club of New
Providence along with
Camperdown Stables is host-
ing its Sth Annual Horse
Show.

The show will take place
on the March 8 and 9.

The Horse Show is one of
the club’s fundraising activi-
ties. The money raised will’
go towards all of the: commu-
nity activities the Rotary
Club of New Providence
undertakes during the year.





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Fax: (242) 394 3902



THE Ministry of Education, in col-
laboration with the Organisation of
American States (OAS), is sponsoring a
workshop as part of the in-service train-
ing for public school teachers in key
strategies for the improving literacy in
schools project.

The training course for master litera-
cy trainers is one in a series of activities
which will eventually lead to the reali-
sation of the project’s purpose, which is
to improve literacy levels among public
school students.

The teachers participating in the train-
ing will be able to diagnose reading defi-
ciencies in students, identify appropriate

strategies to address weakness and pro-
vide reinforcement and additional sup-
port in literacy acquisition and improve-
ment, the ministry said yesterday in a
statement.

The three-day training workshop will
begin at 9am on February 19 at the
Church of the Epiphany.

Training

The workshop will provide training
for 75 teachers, the majority of whom
are stationed at Family Island govern-
ment schools.

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Following the course, the master lit-
éracy trainers will provide training for
their colleagues at school and district
levels.

Subsequently, similar training
will be offered for 75 New
Providence-based public school educa-
tors.

The College of the Bahamas is
responsible for facilitating the training,

-and a team of local professionals repre-

senting COB and the Ministry of Edu-
cation — both curriculum specialists and
classroom teachers — will present
and lead the plenary and break-out ses-
sions.

we



HAPPY TO HAVE received an Isolette and suction machine for use by the children of the children’s ward at the Princess Margaret Hospital,
some of the hospital's staff took the time to thank the corporate banking team of FirstCaribbean International Bank for their generosity. Pic-
tured left to right, are: FirstCaribbean’s credit manager Nedra Woodside; PMH’s chief of pediatrics Dr Paul Roberts; FirstCaribbean's head
of credit and service quality Earl Beneby; chief hospital administrator Coralie Adderley; Nurse Yvonne Clarke; head of corporate support
Jennie McDonald; PHA administrative assistant Lisa Deveaux; head of corporate banking Larry Bowleg, and team leader of client services
Krista Dean, both of FirstCaribbean International Bank.

First Caribbean International
Bank donates incubator to PMH

STAFF of the FirstCaribbean Interna-
tional Bank’s Corporate Banking Centre
recently donated a baby Isolette incubator
and a suction machine to the children’s
ward at the Princess Margaret Hospital
(PMH).

The donation is in keeping with the
bank’s commitment to its “Adopt-A-
Cause” programme, one of the bank’s
initiatives designed to foster volunteerism
and community involvement among the
staff.

This latest donation adds to First-
Caribbean’s staff involvement in paint-
ing and decorating the children’s ward as
well as purchasing clothing and school

materials for the children who board and
attend school at the hospital.

During the presentation, the bank's
manager of corporate credit and service
quality Earl Beneby said that the staff at
FirstCaribbean enjoyed working toward
meeting the needs of the children of the
ward,

“At FirstCaribbean, one of our goals
is to work together to enrich our com-
munities, so we are very pleased to be
doing this. It has made a difference in
our lives at FirstCaribbean and every day,
we see the difference that it is making to
the lives of the children on the ward,” he
said. Pediatrician Dr Paul Roberts

thanked FirstCaribbean on behalf of the
children’s ward of PMH and said that it is
always a pleasure to have corporate citi-
zens play a role in the development of
our nation.

“We are all very pleased that First-
Caribbean’s staff have volunteered to
help to restore and beautify the ward. It
made our holidays a lot more pleasur-
able and memorable. | would also like to
thank you for all the paintings, blinds and
new equipment,” said Dr Roberts.

The staff of the children’s ward at PMH
presented a plaque of appreciation to
FirstCaribbean International Bank tor
their continued support.
THE TRIBUNE

WEDNESDAY, FEBRUARY 20, 2008, PAGE 11





Will the revamped Mission House coin

Eleuthera — where —



The Bahamas began

OCK SOUND:
Other than sun,
sand and sea,
South Eleuther-
a's attractions are rather modest
— a landlocked ocean hole
where you can feed the snap-
pers, an 87-year-old fig tree
spreading along the highway,
and a historic Methodist manse.

The Mission House dates
back two centuries, and has
been meticulously restored as
a museum and community cen-
tre. The work has been driven
by Peter MacClean (a retired
British helicopter pilot who
looks every bit the part of a
Methodist minister) and his wife
Pat (who sold land on Eleuthera
in the 1950s for Sir Sidney
Oakes). A foundation, led by
Chandra Sands, has raised over
half a million dollars to support
the project.

Plans to operate this two-
storey frame house on the
waterfront are now being draft-
ed with the help of the Antiq-
uities Corporation. The Mission
has seen a lot of history in its
time, and among the items fea-
tured in its museum will be
obsolete medical equipment.
That's because in 1942 the
building became a clinic, cour-
tesy of American industrialist
Arthur Vining Davis.

Davis was chairman of
Alcoa, the world's biggest pro-
ducer of aluminium. He was
also one of the famous “three
tycoons” who triple-handedly
created Eleuthera's 20th centu-
ry economy. The other two
were a New England clothmak-
er named Austin Levy, and Pan
American Airways founder
Juan Trippe.

Looking to avoid taxes and
enjoy warm winters, these three
were part of a wave of wealthy
migrants who swept into the
islands from the 1930s onward.
They included mining million-
aire Sir Harry Oakes who built
Nassau's first airport, and Cana-
dian beer baron E P Taylor,
who developed Lyford Cay.

In fact, the flow of money
was so great that the Royal
Bank of Canada was moved to
set up a trust company (later
known as RoyWest) that pio-
neered tax shelters, with Arthur
Vining Davis as its first presi-
dent. After Davis retired from
active management of Alcoa in
the late 1940s, he became a land
developer. And before his death
in 1962, he had acquired some
30,000 acres on Eleuthera.

With fond memories of the
Bahamas from his honeymoon,
Austin Levy set up a dairy and
poultry farm in 1936 on thou-
sands of acres at Hatchet Bay.
He took the place of a group of
retired British officers who had
started the original Hatchet Bay
Company a decade earlier with
the idea of quarrying limestone
building blocks. It was this com-
pany that cut the channel from
the sea to an inland lagoon, cre-
ating Hatchet Bay's hurricane-
proof harbour.

Levy imported cattle from
his Sherman Stock Farm in
Massachusetts and supplied
milk, eggs and ice cream to the
Nassau market for decades.
Even after he died in 1951, his
plantation continued to employ
hundreds and provided much
of the infrastructure for near-
by Alice Town. In addition to
agricultural facilities, the oper-
ation featured restaurants,
stores, a yacht club and a power
plant.

But Hatchet Bay Farm was
taken over by the government
in 1975 for political reasons.
And it's much-lamented closure
nine years later will forever be
associated with former prime
minister Sir Lynden Pindling's
gloating remark that state own-
ership had made the farm "the
greatest success story in
Bahamian agricultural history."

Meanwhile, Davis had devel-
oped his own employment-gen-
erating Three Tree Farm at
Rock Sound, as well as a sec-
ond home estate for the wealthy
called the Rock Sound Club. In
1952 he wanted to build a 300-
_room hotel at Half Sound, but
the government turned him
down. So he sold out to airline
pioneer Juan Trippe, who set
himself up in Davis' former
estate.

Perhaps more than anyone,
Trippe was responsible for the
development of the commercial
airline industry in the 1950s and
60s. And it was Trippe who
transformed South Eleuthera



LARRY SMITH

into a destination of choice for
the glitterati of North America
and Europe.

As a young man he set up
an air taxi service for well-
heeled New Yorkers, before
moving to Florida to launch Pan
American Airways. Pan Am
began flying from Key West to
Havana in 1927 and from Mia-
mi to Nassau in 1929. Trippe
went on to persuade aircraft
makers to build large passen-
ger jets to bring the cost of air
travel down. And he was instru-
mental in Boeing's decision to
develop the 747 jumbo jet in
the mid-60s.

Airlift

At: taking over
Davis' holdings on

South Eleuthera, Trippe built
the Cotton Bay Club in 1959 as
a private "cottage colony" for
his wealthy friends. He also
expanded the Rock Sound air-
port so Pan Am jets from New
York and Miami could fly in
daily — the most notable
achievement in airlift to an out
island in Bahamian history. In
fact, the Rock Sound airport
had US pre-clearance privileges
even before Grand Bahama.
In 1970 Trippe acquired sev-
eral thousands acres at Powell
Point, some 15 miles from Rock
Sound, for a new resort in part-
nership with a big Florida land
company called GAC Proper-
ties. The $35 million Cape
Eleuthera Resort would be
focused around a marina
dredged from a salt pond, and
included a clubhouse, villas, golf

course, airstrip and hundreds of
fully serviced homesites start-
ing at $8,000. It opened in 1973
amid much fanfare.

‘At the time, GAC chairman
S Haywood Wills said Cape
Eleuthera was "the most
thoughtfully planned resort
community of its kind." As evi-
dence, he noted that a third of
the development would be
"parkland" while insecticides
and weed killers would be
sprayed on the golf course "with
great care".

The resort sponsored a mas-
sive clean-up of nearby settle-
ments. Hundreds of gallons of
paint were distributed to resi-
dents who went on a decorating
frenzy, and government bigwigs
were on hand to declare a pub-
lic holiday.

But the excitement was
short-lived. Within five. years
the resort was $140 million in
debt. Hardly any homes had
been built, and there were
reports that the Pindling gov-
ernment was putting the screws
on the owners. The demise of
Cape Eleuthera marked the end
of an era.

Trippe died in 1981 and the
resort passed to a Saudi devel-
oper named Abdul Bougary
who ran it half-heartedly for
two years before shutting it
down. Cotton Bay also went on
the chopping block. The gov-
ernment closed Hatchet Bay in
1984, and Winding Bay went
out of business soon after.
Things were so bad that the
opposition called for South
Eleuthera to be declared a dis-
aster area.

After years of negotiation a
Michigan company called

#46 Collins Ave.

Same building as Multi Auto Parts opp: K.S Moses

With the Compliments of

A Its LiMiTED

ARTISTRY.OF FLOWERS

4
“ayaa”

Wendy's has put a fresh
NEW twist on a biscuit





Landquest International
stepped in to buy the Cape
property for $10 million. Owned
by the DeVos family, founders
of the multi-billion-dollar
Amway Corporation,
Landquest had developed a
shore facility for passing cruise
ships near Bannerman Town
and was interested in reviving
the Cape.

But the company's original
plan called for a high-rise hotel
and casino, which proved
impossible to achieve. The
agreement was cancelled by the
government in 1996 amid com-
plaints from the developers that
all pieces of the puzzle were not
in place. Those pieces included
major infrastructure works like

cide with new era of prosperity?

roads, airlift, phones and power
supply.

So the Cape remained
derelict until 2004 when a new
heads of agreement was
finalised and construction final-
ly got underway on a scaled
down version almost identical
to Trippe's original concept —
villas, marina, homesites, golfing
and a small inn. Tough Call
enjoyed a relaxing stay there a
week or so ago, recalling visits
of 30 years ago as a writer for
the Bahamas News Bureau, but
there have been only 90 paying
guests so far.

Investment

he marina has been
completely rebuilt, with
room for 200 slips and facilities
for mega yachts, and there are
plans to restore the golf course
and re-open the airstrip. A
dozen or so new villas line the
marina and phone, Internet and
cable TV service are about to
be installed. The total invest-
ment so far is put at $85 mil-
lion.
Trippe's other holdings on
South Eleuthera were eventu-
ally acquired by a company

headed by Nassau businessman ®’





Franklyn Wilson. In the 1990s
this group sold the Rock Sound
Club to a Colombian billionaire
banker named Luis Carlos
Sarmiento. He uses the resort as
his private hideaway but refus-
es to restore the property —
much to the chagrin of the
remaining wealthy homeown-
ers.
Meanwhile, Wilson is devel-
oping a new 200-acre Cotton
Bay Club with the usual villas,
homesites, golf course and mari-
na. A 26,000-square-foot club-
house was slated to open last
year, but is still only 70 per cent
complete. Wilson says his com-
pany is moving at a pace that it
considers prudent in view of US
economic trends.

Eleuthera is where the
Bahamas began some five cen-
turies ago. And the Mission
House at Rock Sound has lived
through two centuries of that
history. It remains to be seen
whether its repurposing as a
museum and community centre
will coincide with the beginning
of a new era of prosperity.



What do you think? Send
comments to larry@tribuneme-
dia.net

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PAGE 12, WEDNESDAY, FEBRUARY 20, 2008

THE TRIBUNE



ie ey ee
Hospital’s ‘perpetual
volunteer’ Mary Profilo
receives recognition



Andrew Aitken

PHOTO

R E BARNES, chairman of the Sir Victor Sassoon (Bahamas) Heart Foundation presents the 2007 Lady
Sassoon Golden Heart Award to Mary Profilo at the 44th Annual Heart Ball on February 16, 2008...

MARY Profilo, a “perpetu-
al volunteer” of the Princess
Margaret Hospital Yellow-
birds, was presented with the
Lady Sassoon Golden Heart
Award at the 44th Annual
Heart Ball held on February
16, in the Crown Ballroom at
Atlantis.

Announcing the awardee,
R E Barnes, chairman of the
Sir Victor Sassoon Bahamas
Heart Foundation, said that
Mrs Profilo has “distin-
guished” herself over four
decades of giving to her adopt-
ed home of the Bahamas.

“Whether she is decorating
the hospital wards at Christ-
mas time or giving out Easter
baskets to the patients at
Princess Margaret Hospital,
Mary always seems to be will-
ing to lend a hand.

“She has worked for years
in the gift shop at the hospital.
There, she has often stayed
late to keep the shop avail-
able for patients when no one
could be found to keep it
open,” he said.

The Golden Heart Award,
added Mr Barnes, “is the peo-
pie’s award for community
service, and Mrs Profilo has
given of herself gladly to make
life easier for those who need
a friend while recovering from
serious illnesses in Princess
Margaret Hospital.”

Mrs-Profilo arrived in the
Bahamas from Glasgow, Scot-
land, in 1970 to visit her sister
who was living here at the
time.

That “holiday” turned into a

lifetime commitment to the
people of the Bahamas.

She worked for a period for
International Air Bahamas,
but while there, she found she
had time on her hands, and in
1976 she joined the Yellow-
birds at Princess Margaret
Hospital where she worked in
the children’s ward.

“She loved being there with
the children and was very
close to a number of the

Lady Sassoon Golden
Heart Award presented
at 44th Annual Heart Ball



young patients,” said Mr
Barnes.

“For years, Mrs Profilo vol-
unteered to push a cart
through the halls of the hos-
pital, selling items, to make
the hospital stay of patients a
little less difficult. The money
from these efforts helped buy
much needed equipment for
the hospital.”

Accepting the award, Mrs
Profilo said it is her mother,
Annie Sinclair, who believes
that it is better to give than to
receive, who inspires her.

“In fact,” said Mrs Profilo,
“at age 81 my mother is still
volunteering in Scotland.”

Thanking the Heart Foun-
dation, Mrs Profilo said she
also wished to thank her many
friends in the Yellowbirds and
at Queen’s College, and also
her husband and son who she
often got to join her in her
volunteer activities. In fact,
she quipped, her son calls her
a perpetual volunteer.

It would seem that her
mother has proven to be a real
inspiration to Mrs Profilo, as
she herself is always willing to
lend a hand.

She volunteered to cata-
logue the books of the
Bahamas School of Nursing
library and she helped at the
Montessori School, Tambear-
ly School and Queen’s Col-
lege.

Further, she and her friend
Sylvia Scriven, a former mem-
ber of parliament, ran a soup
kitchen on Kemp Road for
many years, “feeding many
who needed a meal in tough
times.”

She also volunteered at the
Bahamas Humane Society.

“Over the years,” said Mr

Barnes, “Mary has built up a
network of sources who have
helped to supply the hospital
gift shop with low cost items
to help keep expenses down.
She has also created a net-
work of volunteers who help
out at the hospital. She has
inspired others to be of help
when assistance is needed.

“Much like her mother, she
has become an inspiration her-
self.

“As one of her many friends
said, ‘Mary demonstrates a
unique ability to serve in any
capacity, whether it be assist-
ing with major fund raising
efforts, or helping with recruit-
ing persons to assist her.’

“Time and payment do not
matter.

“Tf there is a need, she vol-
unteers her support.

“Mary Profilo truly has a
golden heart for service to her
community” said Mr Barnes
as he presented her with the
2007 Golden Heart Award.

The Heart Ball is the major
fundraiser for the Heart Foun-
dation, which provides finan-
cial support to children and
young adults with heart dis-
ease.
The Lady Sassoon Golden
Heart Award is so named in
honour of the late Lady Sas-
soon who established the
foundation in memory of her
husband. Presented at the
Annual Heart Ball, it is given
in recognition of exemplary
community service.

The 2006 award was pre-
sented last year to Francis
Ledee, a retired social worker
and present administrator of
the Persis Rodgers Home for
the Aged.

Author Terry McMillan

visits Grand Bahama





BEST-SELLING author Terry McMillan of
“Waiting to Exhale” and “How Stella Got Her
Groove Back” visited Grand Bahama over the
weekend as part of the new annual tourism
event“Island Heart Beats Experience.”

The event — founded by Nicole Scott of the
Florida-based Turquoise Water Productions — is
designed to encourage African-American women
to “take their heart on vacation” by getting away
on an island retreat. The event is scheduled to
overlap with Valentine’s Day cach year.

Activities over the long weekend included
workshops, exercise, sight-seeing and entertain-
ment — “all allowing for an enriching, empowering
and enlightening experience,” event coordinators

said.

The Ministry of Tourism, along with Bacardi
and the Ferry House Restaurant co-hosted a wel-
come reception at the Martini Bar on Friday,
February 15, to meet and greet the attendees of
the first event.

Organisers chose Grand Bahama as a destina-
tion because they feel the Bahamas holds a strong
connection to their culture and heritage.

Due to the proximity to the US, it is also easy
for American visitors to travel to the island,

The organisers said that Grand Bahama has
“all the rejuvenating qualities for a restful, relax-
ing and rewarding vacation experience”, which
makes them look forward to the Island Heart
Beats Experience 2009.

oy




WEDNESDAY,FEBRUARY

SECTION B ittitccnCleulaiiattacre meta

St Georges make ‘open
offer’ to settle Port row

@ By NEIL HARTNELL
Tribune Business Editor

he late Edward St

George’s estate

last night said it

had made “an

open offer” to
the Hayward family and all
related companies to settle the
Grand Bahama Port Authori-
ty (GBPA) ownership dispute,
the Supreme Court having
directed all parties to meet on
March 11, 2008, to attempt to
resolve it.

Fred Smith, the estate’s
attorney and a Callender’s &
Co partner, said his clients had
written to Sir Jack, the Hay-
ward family, and the various
companies involved in the
ownership structure - Fiducia-
ry Management Services
(FMS) and Intercontinental
Diversified Corporation (IDC)
- setting out proposed terms

for resolving the 16-month
fight.

Mr Smith told The Tribune
that among the critical pro-
posed terms were that the St
George estate be recognised
as a 50 per cent shareholder in
the GBPA and Port Group
Ltd, meaning that Sir Jack
would have to drop his claim to
75 per cent ownership - the
issue that prompted the rift
between the two parties.

In addition, the estate is
proposing that:

* The GBPA and Port
Group shares be registered in
the names of the estate and the
Hayward family. * That all
legal actions and appeals be
settled.

* That the receivers, BDO
Mann Judd accountants Myles
and Clifford Culmer, be
removed.

* That the Hayward family
and St George estate be

allowed to sell their 50 per cent
stakes to any bona fide third-
party purchaser, “as long as
they are legitimate, receive all
government approvals, and it is
a transparent transaction”.
The Hayward family is
understood to have agreed in
principle to sell its 50 per cent
stake to Fleming Family &
Partners, the wealth manage-
ment and private equity firm.

Mr Smith added that the St
George estate was willing to
“enter into a shareholders’
agreement to provide for equal
representation” of its side and
the Haywards’ on the GBPA,
Port Group and IDC Boards,
and those of their subsidiaries.

The estate is also proposing
that a “mutually acceptable”
chief executive be appointed
to run the Port Group of Com-
panies, and Mr Smith added:
“The agreement will also pro-

vide for some sort of tie-break-
er in the event of deadlock on
the Board, and shareholder
protection provisions.”

He told The Tribune: “We
beg, we implore Sir Jack and
the defendant companies to
approach the offer to settle in
good faith, and we hope the
Government will support our
settlement initiative, which has
been motivated by Justice Ani-
ta Allen’s continuing encour-
agement to settle.”

Mr Smith said Justice Allen
had again last week encour-
aged the parties in the Port
ownership dispute, which has
been particularly ruinous for
a Freeport economy still strug-
gling to recover from the 2004
hurricane. season, to settle.

Justice Allen had directed
that all parties meet on March

SEE page 5B

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$1.5m provision

reversal accounts
for FINCO’s 2007
income increase

@ By NEIL HARTNELL
Tribune Business Editor

A $1.5 million reversal of
general loan loss provisions
was critical to Finance Corpo-
ration of the Bahamas (FIN-
CO) 5.3 per cent net income
rise for 2007, as the mortgage
lender’s profit performance
would have been flat without

it.

FINCO’s annual report for
the year to October 31, 2007,
showed that the Royal Bank
of Canada subsidiary earned a
net $1.086 million from revers-
ing its credit loss provisions last
year, a sum that slightly
exceeds the difference between
2007’s net income of $21.355
million and the previous year’s
$20.274 million.

Acknowledging that the

* Profits flat without
loan loss change,
as accounting treatment
change for mortgage
commitment fees
sees lender revise
previous earnings

* Company targets 50%

- reduction in time
between mortgage
commitment and
funds’ release

* Sets up own life and
home insurance agency

SEE page 6B



Baha Mar:

@ By NEIL HARTNELL
Tribune Business Editor

BAHA MAR &
has obtained tax
incentives from the F
Government that
are “comparable.| ~
to Atlantis”, a |



Incentives ‘comparable to Atlantis’

* Developer says ‘vision still intact’ for $2.6bn project, despite

altered land deals and government refusal on extra concessions
* Revised land transactions and subsequent lease
appear to aid SuperClubs Breezes

senior executive
with the company
said yesterday, |
adding that the |
$2.6 billion devel- fa » Ha
opment’s reduced JR INEER
land mass and fail-
ure to obtain addi-
tional concessions would not impact its
execution. :

Robert Sands, Baha Mar’s senior
vice-president for administration and
external affairs, told The Tribune that
~ through the Hotels Encouragement Act
and other statutory legislation, the
developers would receive tax breaks

Uf

Europe trade deal
‘a great baseline’



and incentives in line with those
obtained by Kerzner International for
its Atlantis project on Paradise Island.

Mr Sands said the tax incentives were
comparable for both Baha Mar’s hotel
and casino components, “particularly
with respect to the casino”.

Given that the Hotels Encourage-
ment Act agreement signed between
Kerzner International and the Gov-
ernment for the Phase III project at
Atlantis provided for tax breaks worth
$460.8 million, according to informa-
tion tabled in the House of Assembly
by Prime Minister Hubert Ingraham,
and that Baha Mar’s project is more

than double that development’s $1 bil-
lion value, it is possible to extrapolate
that the Cable Beach project could see
tax breaks worth up to $1 million.

Speaking ahead of last night’s Town
Meeting on the Baha Mar project, Mr
Sands said the Prime Minister had
alluded to the likely start date for work
on the West Bay Street re-routing dur-
ing his House of Assembly presenta-
tion.

He added yesterday that “some work
will take place around April 2008”.

Although the main contractor for the
West Bay Street re-routing had yet to
be selected, Mr Sands said Baha Mar

Joint Venture Company - the joint ven-
ture between Baha Mar and Harrah’s
Entertainment - was finalising all the
necessary permits and approvals with
the Ministry of Works and other gov-
ernment agencies.

“We've already said that the road-
works and the Commercial Village will
have an aggregate expenditure of $150
million,” Mr Sands said.

“Some $90-$100 million of that will
be on the roads and infrastructure, and
$50 million on infrastructure and the

SEE page 7B

@ By NEIL HARTNELL
Tribune Business Editor

THE Bahamas can buy time
by making the legislative
changes necessary to prepare

the economy for entering -

much tougher rules-based trad-
ing regimes now if it signs on to
the Economic Partnership

Agreement (EPA) with the
European Union (EU) now,
the Chamber of Commerce’s.
leading trade adviser told The
Tribune yesterday.

Hank Ferguson said the
EPA was “the most flexible”

SEE page 8B

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PAGE 2B, WEDNESDAY, FEBRUARY 20, 2008

THE TRIBUNE





ombating the causes
behind internal theft

IS CRIME out of control,
or are we able to manage this
problem? As mentioned a
few weeks ago, we have seen

a major upsurge in the
amount of criminal activity.
The police really have their
hands full.

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But is crime solely a police
problem? Take, for example,
the repair man, be he a
plumber or mechanic. Is the

fact that your septic tank has
backed up or your car is
unable to start really the
problem of the fix-it-guy?

RELATIONSHIP MANAGER -

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The Bahamas, Barbados, the Cayman Idands, Guernsey, Switzerland, Hong
Kong, Malta and the United Kingdom, Butterfield Rivate Bank offers a wide
range of servicesto local and international dients.

An exciting opportunity currently exists for a results oriented self starter with
a record of professional achievements to join a dynamic Trust’ & Corporate

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and agencies,

Rrovide financial information to dients as requested.

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Bachelor's Degree in Business or related discipline from a well recognized

university.

A minimum of five years progresave Fiduciary experience in the Financial

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Srong interpersonal, communication, problem solving, project
management and customer service «kills

dosing Date: February 27, 2008

Contact
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Butterfield Bank (Bahamas) Limited

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KOM Titel Lela ag



Life. Money. Balance both:

When we consider this in the
context of crimie, the issue
may have been transferred to
the police, but it is really our
problem. So, what are we
going to do? There are many
suggested solutions, primarily
focused on the concept of
harsher penalties, more
police and ‘swift justice'. The
public calls for longer sen-
tences and hangings.

These remedies, I feel,
come after the rape or mur-
der has occurred, and are
similar to using a bigger mop
to soak up the spill. Our
focus should not be on reac-
tive remedies but, rather,
preventative measures.

Phillip Purpura, in his book
Security and Loss Prevention,
says: “In many businesses, so
many people are stealing that
those who do not steal are
the deviants and outcast.
Theft becomes normal and
honest becomes abnormal.”

What makes people steal is
the question in this edition,
and we will attempt to unrav-
el the answer, as it is key to
managing the problem. The
old adage: ‘Walking in one’s
shoes to see how they think’

is essential if companies want —

to reduce loss via this avenue.

Aside from crime statistics
provided by the Royal
Bahamas Police Force, and
studies done by other groups
such as the Coalition of Pri-
vate Sector Organisations,
there is very little document-
ed information about
employee theft in the
Bahamas.

Psychologists, sociologists
and criminologists have
struggled for years to under-
stand and describe the moti-
vations of dishonest individu-
als. These disciplines have
provided numerous studies in
an effort to identify personal-
ity traits and characteristics
most frequently associated
with theft or fraud. They
have also attempted to iden-
tify social forces and environ-
mental factors that contribute
to, or might explain, why cer-
tain individuals are dishonest
and others are not. Only
recently have these studies
been directed at white collar
crime, as the focus had been
on violent crimes such as
rapes, murders and bank rob-
beries.

This all changed in the ear-
ly 1980s, when researchers
from the University of Min-
nesota, John Clark and .
Richard Hollinger, published
the results of an extensive
three-year study they con-
ducted on employee theft.
This landmark study identi-
fied five characteristics to
explain the phenomenon of
employee theft:

1. External Economic

Pressures

Prior to this study, the most
frequent explanation of
employee theft was that
employees stole from their
employers because they had
a personal problem involving
alcohol, gambling, illicit
affairs or similar situations.

This-position asserts that
"when economic pressures
become great, people may
turn to illegitimate means to
achieve socially acceptable
goals”. Clark and Hollinger
observed that the connec-
tions between the nature of
economic needs, and the
manner in which the stolen
materials satisfy those needs,
had not yet been established.

2. Youth and Work

Another commonly-
expressed theory stated that
younger employees are sim-
ply not as honest or hard-
working as previous genera-
tions. Cited were two studies
of retail employees caught in
the act of stealing merchan-
dise. Both studies indicated a
disproportionate number of
younger, newly-hired
employees were involved in
theft. However, no clear and
convincing evidence existed
to confirm this theory.

3. Opportunity

The opportunity to steal
items of value was considered
one of the primary factors in
employee theft by security



Safe &.

Secure
Ck

practitioners. It was generally
held that every employee is
tempted to steal from his
employer at one time or
another during their career,
based on the opportunity to
steal. This theory was also
never empirically studied
until Clark and Hollinger's
research in 1983.

4. Job Dissatisfaction

The idea that there is a
cause and effect between job
dissatisfaction and employee
theft had not been included
in most studies until Clark
and Hollinger. The theory
suggests that the organisation
from which employees steal
may influence such theft
because management, direct-
ly or indirectly, is responsible
for job dissatisfaction, based
on the perceptions of their.
employees.

5. Social Control

The social control theory
suggests that the broadly-
shared formal and informal
social structure within a com-
pany greatly influences
whether theft persists or not.
Although not empirically
tested until Clark and
Hollinger's study, it empha-
sised the role individual work
group norms played in deter-
ring workplace theft.

In addition, there was evi-
dence in existing studies that
theorised a relationship
between supervisors/manage-
ment, personnel and employ-
ees in deterring or encourag-
ing theft behaviour. Both the-
ories are similar to the deter-
rence doctrine, which
assumes the threat of nega-
tive social sanctions from the
company or criminal law can
affect the amount of theft in
the company. In essence,
employees will be more likely
to steal if they perceive the
threat of detection and/or
punishment for this behav-
iour is weak or non-existent.

Regardless, the two prima-
ry objectives here are to
reduce the level of theft and
fraud in the workplace. Thus
the company must be clear
on identifying and uniformly
sanctioning unacceptable
behaviour, then penalising
persons for infractions. As a
result, regulations regarding
theft by employees must be
clear and frequently reiterat-
ed to ensure prohibitions
regarding such activity are
understood by all employees.

In my opinion, the message
concerning loss prevention
and penalties resulting from
such action is lost - or even
neglected - during pre-
employment orientations for
new staff, and never again
addressed until someone is
actually caught stealing.
Companies cannot rely solely
on negative sanctions from
society to apply to the work-
place. Individual sanctions
within the company are
important to help mold the
culture and ensure certain
expectations are clear.

Enforcing sanctions must
also be uniform. It takes only
one incident in which man-
agement is given preferential
treatment to undermine the
entire policy. Negative sanc-
tions for theft must apply to
everyone in order to be effec-
tive, and management must
be prepared to uniformly dis-
pense company discipline.

NB: Gamal Newry is the
president of Preventative
Measures, a loss prevention
and asset protection training
and consulting company, spe-
cialising in policy and proce-
dure development, business
security reviews and audits,
and emergency and crisis
management.

Comments can be sent to
P.O. Box N-3154 Nassau,
Bahamas, or e-myil
gnewry@preventativemea-
sures.net.com or WWW.pre-
ventativemeasuresnet
THE TRIBUNE

WEDNESDAY, FEBRUARY 20, 2008, PAGE 3B



LS of Tr

Hotel incentives process revise

d amid

government fears on revenue losses

PRIME MINISTER Hubert Ingraham speaks in the House of Assembly



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BETHEL
Tribune Business Reporter

THE government has put in
place new policies to govern the
implementation of the Hotels
Encouragement Act, the Prime
Minister saying it feared it had
lost revenue by granting conces-
sions prior to an agreement with
developers being concluded.

“We have now put in place
new policies governing the
implementation of the Hotels
Encouragement Act, and all
affected government depart-
ments and agencies have been
advised that concessions under
the Act are not accessible until
such time as an agreement has
been concluded between the
Government and the resort own-
er or operator as appropriate,”
the Prime Minister told the
House of Assembly.

He added that in the past, a
practice evolved whereby appli-
cations for the grant of conces-
sions for the construction and
outfit, or the refurbishment and

upgrade, of hotels and resorts in #

the Bahamas under the Hotels
Encouragement Act were
approved in principle by the
National Economic Council

(NEC). This is really the Cabi- —

net.

Subsequently, he explained
that customs, stamp duty, real
property tax and other exemp-
tions were approved by the min-
ister charged with responsibility
for implementing the Hotels

‘ Encouragement Act, who would

set the terms and duration of
exemptions.

“Once the minister had made
his/her determination on the
concessions and waivers, this
decision was conveyed via let-
ter to appropriate offices - the
Customs Department and the
Valuation Unit of the Ministry
of Finance,” Mr Ingraham
explained.

This meant, he said, that own-
ers, developers and operators of
resorts in the Bahamas have
been able to access concessions
under the Hotels Encourage-

BAHA MAR

ment Act prior to the formal
execution of an peLceicnt under
the Act.

“While this practice has assist-
ed in expediting the start-up date
of projects, it has also permitted
a slippage in control, sometimes

to the detriment of the collec-
tion of Government revenue,’
the Prime Minister said.

Mr Ingraham’s comments
came as he tabled some 19
Heads of Agreements concluded
by his administration.

BAHAMAS SOCIETY OF ENGINEERS

www. bahamasengineers.org

NOTICE

THE BAHAMAS SOCIETY OF ENGINEERS
CORDIALLY INVITES YOU TO ATTEND

THE ee LUNCHEON
Thursday, Ben raiy 21, 2008

GUEST SPEAKERS:
Lelawatte Manoo-Rahming BSc.,MSc.,CEng,MIMechE MCIBSE
Hammond Rahming BSc.,PE.
Michael Diggiss B Arch, PMP, MBA

Topic:

The Impact of Foreign Direct Investment on The
Development of The Bahamas-Challenges and
Opportunities for Bahamian
Professionals of The Built Environment.

Place:

East Villa Restaurant
East Bay Street
TIME: 12:00p.m.
Donation: $25.00 per person
IF POSSIBLE PLEASE CONFIRM YOUR ATTENDANCE BY E-MAIL
gracesharma05@yahoo.com

jeelliott@bahamaselectricity.com
or by TEL: 302-1215

NASSAU, BAHAMAS



Career Opportunity

Baha Mar Development Company Ltd. seeks to hire a
Landscape Superintendent

The successful applicant should possess the following qualifications:

¢ Ability to read and revise landscape plans.

¢ Ability to operate a backhoe, excavator, grader, and a

front-loader.

¢ Knowledge of proper installation of all commercial irrigation

systems.

« Experience in the planting or installation of palms, trees,

shrubs and sod.

¢ Extensive knowledge of transplanting palms and trees.

¢ Ability to supervise and give direction to construction

personnel,

¢ Knowledge of golf course landscaping and maintenance.

* Computer experience in landscaping design Is a necessity.

Exceptional communication skills, leadership qualities, self discipline
and the initiative to grow and learn are also essential.

Please

forward curriculum

vitae with

salary requirements via

e-mail to the Human Resources Manager at hr@bahamar.com or fax to:
(242) 677-9100 no later than February 27, 2008. All responses will be
held in the strictest confidence


PAGE 4B, WEDNESDAY, FEBRUARY 20, 2008



THE TRIBUNE

\

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LSromnny

\ 2



“Every day I look forward to reading The Tribune.
It always provides valuable information and something
to talk about like local news, sports, entertainment
and world news. The Tribune provides everything
I need to know about life in The Bahamas and
internationally. The Tribune is my newspaper.”

JASON RAHMING
CONSTRUCTION FOREMAN


THE TRIBUNE

WEDNESDAY, FEBRUARY 20, 2008, PAGE 5B



Former minister raises Norman’s C

m@ By CARA BRENNEN-
BETHEL
Tribune Business Reporter

A FORMER Exuma MP
yesterday raised concerns
regarding the proposed Aman
Resort project for Norman’s
Cay, saying that any investment
on the “island jewel” needed
to be environmentally sensitive
and appropriate for its size.

George Smith told Tribune
Business he had no objections
to the proposed Aman Resort,
noting its projected economic
impact and employment impli-
cations. But he said he has
grave concerns when it came
to the construction of the pro-
posed golf course, the size of
the development’s properties
and the area’s water life, as it
was one of the few areas where
baby conch are born.

He also strongly felt that the
Treasury needed to retain more
of the island’s land for future
use by Bahamians.

Mr Smith has long agitated

for Norman’s Cay, with respect
to the 400 acres that is held by
the ‘Treasury, and has encour-
aged both the former PLP and
current FNM governments to
retain ownership of the airstrip
unit, a “reasonable percentage
of the Whale’s Tail on Unit 5”,
and recommended that 15 lots
in Unit Three be reserved for
the use of or sale to Bahami-
ans.

He said that it was ill-advised
to agree to make all the Gov-
ernment’s acreage available to
one investment group.

“As a former MP and some-
one who loves Exuma as one
of the most beautiful places in
the world, it is important that
we preserve it for future use,”
he said. —

Mr Smith pointed out that
the area surrounding Norman’s
Cay was one of the few breed-
ing grounds for conch, and said
there should be some designa-
tion of it as a land and sea park.

He added that no govern-
ment should approve any

St Georges make ‘open

11, 2008, in a courtroom spe-
cially assigned for this purpose,
to “settle the case”. Among
those directed to attend were
the estate’s three executors -
Lady Henrietta, Chris Caffer-
ata and Lord Euston - Sir Jack,
ousted GBPA chairman
Hannes Babak, and the own-
ership companies and their
directors and officers. All were
to be accompanied by their
attorneys.

Mr Smith said further terms
proposed by the St George
estate involved them “sacrific-
ing any claim for costs” in rela-
tion to the oppression action
against Sir Jack and Mr Babak,
although they still wanted to
cover costs from the owner-
ship action in accordance with
the court order.

“The costs of the receivers
are to be shared equally, and
they are to leave as soon as an
agreement is signed,” Mr
Smith said. “In addition, the
various homes owned by the
Hayward and St Georges in
the companies’ name should

be transferred to their names.”

However, a copy of the set-
tlement offer, which has been
seen by The Tribune, does not
envision any way back for Mr
Babak.

It said: “Mr Babak is to have
no role to play in any of the
companies at any time in the
future. The estate adopts the
position that Mr Babak is not
entitled to any compensation
in respect of his alleged claims
against the companies. If a set-
tlement with Mr Babak can-
not be reached, the estate pro-
poses to continue its present
action against him.”

The letter added: “The
estate believes that the above
principles could, if adopted in a
spirit of fairness and compro-
mise, provide a fair and work-
able solution to the ongoing
dispute. In that spirit of com-
promise, and on the basis that
any third party interested in
purchasing the Hayward inter-
est is prepared freely to come
into the companies recognis-
ing the estate’s position and

development that was high den-
sity in scope, or that would be
used to accommodate a large
number of people.

“T would like to see hotel
chains in Exuma, but not at the
expense of the environment,”
Mr Smith said, adding that the
ideal development would not
exceed 70 units and be mainly
comprised of residential estate
lots.

He also expressed his disap-
pointment that the developers
behind the project - the Miamia
and New York-based Setai
Group - apparently did not ask
any Exumians to be involved
in. the development process

Mr Smith explained that Nor-
man’s Cay was divided into five
units, with units 4 and 5 belong-
ing to the Public Treasury.
Units one and two, he said,
belonged to residents, the
fourth unit contained the
airstrip space, and space in unit
three should be designated for
Bahamians.

Prime Minister Hubert Ingra-

rights, the Estate is prepared to
sacrifice its other claims in the
interests of such resolution.

“Otherwise, the estate will
have no choice but for the liti-
gation to be continued and will
conclude that the parties’ dif-
ferences remain itreconcilable,
and that the only way in which
its interests can be protected
is for it to acquire all of the
shares in the companies.”

Mr Smith, though, told The
Tribune that the St George
estate was “acutely sensitive
to the need to settle... We
believe this situation should
not continue. It is not in the
interests of the parties or the
public”.

He added that the estate did
not want to see Mr St George’s
life’s work “go up in flames or
have been in vain”.

In the offer letter, Mr Smith
wrote on behalf of the St
George estate: “Mr St George
spent the greater part of his
professional life working for
the benefit of the Grand
Bahama Port Authority, its

CFA Society of The Bahamas

MONTHLY SPEAKER EVENT

2007/2008 Officers & Directors

President

Kristina M. Fox, CFA

CIT Holdings Ltd

PO Box SS-19140, Nassau, Bahamas
Ph: (242) 363 1501 Fax: (242) 363 1502

Email: kf@cit.co.uk

Vice-President

David Ramirez, CFA

Pictet Bank & Trust Ltd.

PO Box N-4873, Nassau Bahamas

Ph: (242) 302 2217 Fax: (242) 327 6610
Email:dramirez(@pictet.com

Treasurer

Christopher Dorsett, CFA

Citigroup Corporate & Investment Bank
PO Box N 8158, Nassau, Bahamas

Ph: (242) 302 8668 Fax: (242) 302 8569

Email: Christopher.a.dorsett(@citigroup.com

Secretary

Sonia Beneby, CFA

ScotiaTrust

PO Box N 3016, Nassau, Bahamas

Ph: (242) 502 5700 Fax: (242) 326 0991
Email: sonia.beneby@scotiatrust.com

Programming

Karen Pinder, CFA

EFG Bank & Trust (Bahamas) Ltd.

PO Box SS 6289, Nassau, Bahamas

Ph: (242) 502 5400 Fax: (242) 502 5428
Email: karen.pinder(@efgbank.com

Education

Pamela Musgrove, CFA

Colina Financial Advisors, Ltd,

PO Box CB 12407, Nassau, Bahamas
Ph: (242) 502 7008 Fax: (242) 356 3677

Email: pmusgrove(@cfal.com

Warren Pustam, CFA, CPA
EverKey Global Partners

PO Box N-7776-518, Nassau Bahamas
Ph: (242) 362 3080

Email: warrenroverkeygiobai vom

Membership

Geneen Riviere

Pearl Investment Management Limited
PO Box N 4930, Nassau, Bahamas

Ph: (242) 502 8022 Fax: (242) 502 8008
Email

Past President

David Slater, CFA

KPMG

PO Box N-123, Nassau, Bahamas
Ph: (242) 393 2007

Email: dslatter@@kpmg.com.bs

ri

PROFESSIONAL
DEVELOPMENT

QUALIFIED ACTIVITY

“Options for Enhancing Returns"

Thursday, February 21", 2008

12:00 pm
12:30 pm Speaker
Please arrive promptly!

Location:
East Bay Street, Nassau

Speaker: Bud Haslett

Director: Option Analytics
Miller Tabak & Co., LLC

New York, NY

Members $25.00
Non-Members $35.00 °

General Meeting

Luciano’s of Chicago, Cagliari Room

(Please make cheque payable to: CFA Society of The

Bahamas)

Reservations:

PRE-REGISTRATION REQUIRED -

by Wednesday February 20th, 2008

Karen Pinder, CFA

karen.pinder@efgbank.com

*Prepayment required through one of the Board Members

Options for Enhancing Returns: This 45-minute presentation provides

information concerning the conservative use of option strategies. The presentation begins
with a brief overview of three strategies: protective puts, covered calls, and collars. It
includes a description of the marketplace for exchange traded options. A more detailed
discussion of covered call writing follows, including an examination of the 17-year track
record of the CBOE S&P 500 BuyWrite Index (BXM). Important considerations in
establishing and managing these positions are also reviewed.

Biography: Mr. Haslett is the director of option analytics for Miller Tabak + Co. in New
York City, USA. He is responsible for developing customized and standardized option
strategies for institutional clients and also works on special option-related projects for the
firm. He previously founded Write Capital Management, LLC, a derivatives-based
investment management firm managing more than $300 million in conservative option
strategies and spent two decades on the options trading floor, where he managed
portfolios of stocks and options. He has served on the Business Conduct Committee of the
Philadelphia Stock Exchange,as well as a member of the National Option Linkage

Committee.

Mr. Haslett is past president (2003-2004) of the CFA Society of Philadelphia and ts
Chairman of the Board of Regents for the Financial Analysts Seminar (2005 to

present). He is an active volunteer for CFA Institute, having served in a variety of
capacities including CFA exam grader and member of the Council of Examiners. He is a
CFA charterholder and also holds the Financial Risk Manager (FRM) certification. He
received graduate degrees from the University of Pennsylvania and Drexel University and
has served as an adjunct professor of derivatives at both Johns Hopkins University and

Rutgers University.



ham tabled the superseding
Heads of Agreement for the
Norman’s Cay development in
the House of Assembly on
Monday. He indicated that the
proposed $80 million develop-
ment will maximise Bahamian
construction, providing 700 jobs
during peak construction and
400 jobs upon completion of
the resort.

The Aman Resort on Nor-
man’s Cay will now have an
estimated project cost of US
$80 million, with the following
components:

* Hotel Lodge - 40 hotel
Bungalows; 28 residential villa
sites; Beach Club and Pool;
Spa, Fitness and Tennis Cen-
tres.

There will be an extension
and upgrade of the existing air-
port, with Customs, Immigra-
tion and Police facilities and
living accommodations for
those employees, plus a marina
and marina village, and staff
accommodations.

The developer will pay to the

offer’ to settle Port row

affiliated companies, Freeport
and our community here in
Grand Bahama as a whole.
“He, of all people, would
have been devastated by the

bitter legacy his death has.

caused in the companies he
worked so hard to benefit. It is
in his spirit that I am instructed
by my clients to send this open
offer, in the hope that this sad
and disruptive dispute will ve
brought to an end and the
companies and our community
will be able to move forward
once more.

“This offer is made without
abandoning the relief which
my clients seek in the various
actions.”

BAHA MAR

Treasurer $1 million for Free-
hold Lands, and 5 per cent of
the gross sales proceeds on res-
idential lots sold to third par-
ties.

The developer will also pro-
vide a bond of $40 million from
a bank, insurance or trust com-
pany licensed in the Bahamas,
which shall be forfeited if the
hotel component is not sub-
stantially completed within 48
months.

The Developer will surren-
der the 2002 lease, and the sum
of $50,000 paid thereunder shall
be applied towards the pur-
chase price for the freehold
lands.

The developer shall cause the
purchaser of any residential
unit located within the freehold
lands to pay to the Treasurer
an Occupancy Fee of $150,000
upon the substantial comple-
tion of the residence construct-

ay concern

ed, or the appropriate Stamp
Tax on the cost of the con-
struction of the home, whichev-
er is the greater sum.

Subject to the hotel being
constructed and operational,
the Government undertakes
not to approve any develop-
ment on its remaining 250 plus
acres of land at Norman’s Cay
that is incompatible with the
developer’s overall project con-
cept.

After the opening of the
hotel, the Government will
declare the airport a “customs
airport” and the Marina a “port
of entry”. The cost of main-
taining that status shall be for
the account of the developer.

There will be unfettered pub-
lic access to the airport and
marina, subject to standard
landing and berthing fees set
by the developer and approved
by the Government.

LEGAL NOTICE

NOTICE

WHATEVER LTD.

Pursuant to the provisions of Section 137
(8) of the International Business Companies
Act, 2000, the dissolution of WHATEVER
LTD., has been completed; a Certificate of
Dissolution has beenissued andthe Company
has therefore been struck off the Register. The
date of completion was January 25th, 2008.

Anthony B. Dupuch
Liquidator

NASSAU, BAHAMAS



CAREER OPPORTUNITY

Baha Mar Development Company Ltd. seeks to hire a

Project/Construction Manager

The Project/Construction Manager is responsible for planning, organizing, supervising
and coordinating the work of consultants, contractors and sub-trades as required
for various projects. They must ensure that the projects meet design, budget,
schedule and quality requirements.

The successful applicant will be responsible for:

e Ensuring the trade contractors are carrying out their work in accordance with
the Contract, including approved method statements and other approved
documents relating to Health & Safety, environmental issues and quality.
Facilitating the work of the contractors, so far as possible, by ensuring the
necessary logistic arrangements are set up and operating
Interfacing between contractors
Recording the progress of work and valuation
Carrying out inspections with the contractor to verify that work is in accordance
with the approved standards. Escort other parties, (Local Authority, Consultants,

Clients etc) as requested, to participate in iispections.

Conducting or participating in site meetings as requested and provide written

records.

Creating and executing project work plans and revises as appropriate to meet
changing needs and requirement.
Identifying resources needed and assigns individual responsibilities
Managing day-to-day operational aspects of a project.and scope
Minimizing exposure to risk
Managing project budget
Analyzing project cost

Qualifications include:

Extensive knowledge of the general construction industry and the sub trades
Extensive knowledge of construction legal issues including contracts, liens,
labor standards, retainage and other related topics
Ability to perform project management duties for construction projects up to
$150,000,000 effectively and efficiently including but not limited to Budgeting,
Scheduling, QA, Submittals, etc
Ability to identify, troubleshoot and resolve problems on projects before they
become major issues.
Ability to handle multiple tasks at the same time while maintaining attention

to detail

Ability to work in stressful situations
Ability to juggle departmental resources to mect deadlines
Ability to read and interpret financial reports

Ability to consistently prepare accurate cost estimates

Ability to successfully negotiate with owner’s, architects, engineers,
subcontractors and suppliers

Ensure Design-and Budget is compatible.
Development of assigned Bid Packages

Excellent written and verbal communication skills

Miligates team conflict and communication problems

Motivates team to work together in the most efficient manner

Please forward your curriculum vitae with salary requirements via e-mail to the

Human Resources Manager at hr@bahamar.com
or fax to (242) 677-9100 no later than February 21, 2008.

All responses will be held in the strictest confidence.


PAGE 6B, WEDNESDAY, FEBRUARY 20, 2008

THE TRIBUNE







y
'

o






experience and qualifications.

P.O, Box CB-12707
Nassau, Bahamas

Write to:





Legal Notice

NOTICE

HARK COAST HOLDINGS LIMITED

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 13th day of
February 2008. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

LEADING COMPANY

Urgently seeking Director Of Human Resources
|





$1.5m provision
reversal accounts

for FINCO’s 2007
income increase

FROM page 1B

company had enjoyed an
almost $1.1 million net gain on
its provision for credit losses
via the $1.5 million reversal,
FINCO’s management said
that following an analysis dur-
ing 2007, it had “revised its
minimum provision ratios for
total loans and non-perform-
ing losses”.

As a result, FINCO’s total
provision for credit losses now
stood at 1.32 per cent of its
total $616.2 million loan port-
folio, compared to the previ-
ous 1.63 per cent ratio.

The provision also covered
49.94 per cent of total non-per-
forming loans, compared to the
previous 50.82 per cent. FIN-
CO management added that
the lender’s “provision for
credit losses remains strong”,
was in line with industry aver-
ages and met regulatory guide-
lines,

Meanwhiie, through adopt-
ing International Accounting
Standard 18 for revenue, FIN-
CO announced that it had
changed its accounting treat-

mitment fees.

Previously, the institution
had recognised the proceeds
from these commitment, fees
instantly, but under the new
accounting treatment will
‘defer’ and amortise them over
the mortgage loan’s life.

FINCO will use an average
loan term of 20 years to do
this, but by applying the
accounting treatment retroac-
tively, the institution saw
2006’s opening retained earn-
ings decline by $5.467 million.

Fees and commissions
earned in fiscal 2006 also fell
by $501,9256, with deferred
fees for that year increasing by
$5.969 million.

The increased competition
for deposits due to liquidity
shortages in the Bahamian
commercial banking system in
2007 depressed FINCO’s net
interest spreads, mush as it did
for other institutions.

Forced to offer higher inter-
est rates to attract deposits,
FINCO saw its interest
expense for the year to Octo-
ber 31, 2007, increase by 23 per
cent, growing by more than $4

cent in some instances” due to
streamlining of the required
paperwork.

She added: “This means our
customers are receiving much
quicker decisions on their
mortgage applications. The
next step in 2008 is to improve
the time it takes from the com-
mitment stage of a mortgage
to when the customer actually
receives funds credited to their
account, from an average of 90
days to 45 days.”

Ms McCartney added that

FINCO had during 20907 sep-
arated the sale of mortgages
from home and life insurance
by creating, on May 1, its own
wholly-owned insurance
agency, FINCO Insurance
Agency Ltd. The latter will be
responsible for providing FIN-
CO mortgage borrowers with
home and life insurance.

Ms McCartney added: “This
allows lenders to focus more
on the sale of mortgages and to
better meet the lending needs
of our customers.”

NOTICE

NOTICE is hereby given the LORENCEAU LOUIS of EAST
ST., P.O. BOX NP-4370, 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 20th day of February, 2008 to the Minister responsible
for Nationality and Citizenship, PO.Box N - 7147, Nassau,

Bahamas.



million to $22.506 million from
$18.294 million the previous
year.

This more than cancelled out
the 8.7 per cent increase in
interest income FINCO expe-
rienced, as this grew to $50.74
million compared to $46.69
million the year before.

As a result, FINCO’s net
interest income fell by $0.2 mil-
lion or 0.57 per cent. Non-
interest income, though, which
consists of bank fees, commis-
sions and charges, grew by 5.67
per cent compared to the pre-
vious year’s 5.28 per cent
growth.

On the other side, non-inter-
est expenses increased by $0.6
million or 5.42 per cent over
2006, something FINCO man-
agement attributed to “higher
staff and occupancy costs, and
an increase in telecommunica-
tions costs when compared to
the previous year”.

The BISX-listed institution,
which is 75 per cent owned by
Royal Bank, added that its
loan portfolio grew by 10.15
per cent or $56.8 million in fis-
cal 2007, reaching $616.2 mil-
lion at year-end compared to
$559.4 million in 2006.

With housing demand con-
tinuing to be strong, FINCO
said the increase was largely
due to “aggressive marketing”
and its Blockbuster campaign.

Tanya McCartney, FINCO’s
new managing director, told
shareholders that the turn-
around time for approving
mortgage applications “has
improved as much as 70 per



ment for mortgage loan com-

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Pricing Information As Of:

=) FIDELITY
Tuesday, 19 February 200 8 CFA L.”

BISX LISTED & TRADED SECURITIES » VISIT WWW.BISXBAHAMAS. COM FOR MORE OGATA & INFORMATION

BISX ALL. SHARE INDEX: CLOSE 1,996.91 / CHG 0.10 / %CHG 0.01 / YTD -69,84 CYÂ¥TR % -3.38 AG
Div $ P/E Yield













~ 52wk-Low































































52wk-Hi Securit y Previous Close Today's Close Change Daily Vol. EPS $
0.75 Abaco Markets 1.73 1.73 0.00 0.157 0.000 11.0 0.00%
11.80 11.00 Bahamas Property Fund ‘ 11.80 11.80 0.00 1.502 0.400 7.9 3.39%
9.68 8.11 Bank of Bahamas 9.61 9.61 0.00 0.612 0.260 15.7 2.71%
40.99 0.80 Benchmark 0.99 0.99 0.00 0.188 0.030 5.3 3.03%
13.74 1.85 Bahamas Waste 3.66 3.66 0.00 0.289 0.090 12.7 2.46%
2.70 1.25 Fidelity Bank 2.60 2.60 0.00 0.058 0.040 44.8 1.54%
12.70 10.00 Cable Bahamas 12.70 12.70 0.00 153 1.030 0.240 12.3 1.89%
3.15 2.00 Colina Holdings 3.14 3.14 0.00 0.031 0.040 101.3 1.27%
8.50 4.52 Commonwealth Bank (S1) 7.50 7.50 0.00 860 0.428 0.260 17.5 3.47%
7.22 4.48 Consolidated Water BDRs 4.48 é 4.58 0.10 98 0.129 0.052 34.7 1.16%
2.60 2.20 Doctor's Hospital 2.44 2.44 0.00 0.316 0.020 7.7 0.82%
eto 5.70 Famguard Ag 7.79 0.00 0.713 0.280 10.9 3.59%
13.01 12.30 Finco 13.00 13.00 0.00 0.801 0.570 16.2 4.38%
14.75 13.99 FirstCaribbean 13.99 13.99 0.00 0.914 0.470 15.3 3.36%
6.10 5.12 Focol (S) 5.15 5.15 0.00 0.363 0.140 14.2 2.72%
11.00 0.54 Freeport Concrete 0.74 0.74 0.00 0.035 0.000 21.1 0.00%
8.00 7.20 ICD Utilities 7.25 7.25 0.00 0.411 0.300 17.6 4ANAN%
12.50 8.60 J. S. Johnson 12.30 12.30 0.00 1.059 0.610 11.6 4.96%
10.00 10.00 Premier Real Estate 10.00 10.00 0.00 1.167 0.600 8.6 6.00%
> i Fidelity Over-The-Counter Securities ‘ ‘
wk-Hi 52wk-Low Symbol Bid $ Ask § Last Price Weekly Vol. EPS $ Div $ P/E Yield
7 Bahamas Supermarkets 14.60 15.60 16.00 1.160 1.185 13.4 8.12%]
8.00 6.00 Caribbean Crossings (Pref) ‘ 6.00 6.25 6.00 0.000 0.480 NM 7.80%)
0.54 0.20 RND Holdings 0.35 0.40 0.35 -0.023 0.000 N/M 0.00%
g Colina Over-The-Caunter Securities é S
41.00 41.00 ABDAB 41.00 43.00 41.00 4.450 2.750 9.0 6.70%
14.60 14.00 Bahamas Supermarkets 14.60 15.60 14.00 1.160 1.125 13.4 7.71%
0.55 0.40 RND Holdings . 0.45 0.55 0.45 -0.030 0.000 N/M 0.00%
BISX Listed Mutual Funds




Yield %



NA V
1.300059°**"

YTD%" Last 12 Months Div $



Fund Name
Colina Bond Fund

52wk-Low
1.2037












3.6008 2.4723 Colina MSI Preferred Fund 2.999402*** 19.97%

1.3798 1.2647 Colina Money Market Fund W37OT7 eee ee

3.7969 3.0569 Fidelity Bahamas G & | Fund 3.7442*** -1.40% 27.72%
11.9880 11.3545 _ Fidelity Prime Income Fund 11.9880*** 0.46% 5.53%
100.0000 100.0000 CFAL Global Bond Fund 100.00**

100.0000 100.0000 CFAL Global Equity Fund 100.00**

1.0000













1.0000 CFAL High Grade Bond Fund 1.00**
10.5000 9.6628 Fidelity International Investment Fund 9.6628***
FINDEX: CLOSE 922.49 / YTI 3.10% / 2007 34.47%
BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 MARKET TERMS YIELD - last 12 month dividends divided by closing price NAV KEY
52wk-Hi - Highest ing price in le 2 weeks Bid $ - Buying price of Colina and Fidelity
52wk-Low - Lowe 9 prica in last 52 weeks Ask $ - Selling price of Colina and fidotity






*. 31 December 2007











Previous Close » 5 day's weighted price for daily volume rice Last traded aver the counter price

Today’ 5 Current day's weighted price for daily volume Vol ~ Trading volume of the prior wook V1 January 2008
Change - Change in closing price from day to day EPS $- A company's reported earnings por share for the last 12 mths: * 2) January 2008
Daily Vol. - Number of total shares traded today NAV -NetAsset Vale ne 8 Pobruary 2008
DIV $ Dividends per share paid in the last 12 months N/M - Not Meaningful

P/E - Closing price divided by the last 12 month earnings FINDEX - The Fidelity Bahamas Stock Index, January 1, 1994 = 100

(S) - 4-for-1 Stock Split - Effective Date 8/8/2007

(S1) - 3-for-1 Stock Split - Effective Date 7/11/2007




TO TRADE CALL: CFAL 242-502-7010 / FIDELITY 242-356-7764 / FOR MORE DATA & INFORMATION CALL. (2472) 304-2803





NOTICE

NOTICE is hereby given the NESTLIE SAMSON of
CARMICHAEL ROAD, 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 20th day of February, 2008 to the Minister responsible
for Nationality and Citizenship, PRO.Box N - 7147, Nassau,
Bahamas. :

NOTICE

_ NOTICE is hereby given the DAVID LOUIMA of MALCOLM

ALLOTMENT, 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 20th day of February,
2008 to the Minister responsible for Nationality and Citizenship,
P.O.Box N - 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that ROSELINE PIERRE OF QUINTINE
ALLEY OFF WULFF ROAD, NASSAU, BAHAMAS, is applying
to the Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and that
any person who knows any reason why registration/ naturalization’
should not be granted, should send a written and signed
statement of the facts within twenty-eight days from the 13TH
day of FEBRUARY, 2008 to the Minister responsible for
Nationality and Citizenship, RO.Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that WINDLEY TOUSSAINT OF P.O.
BOX 5537720, 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 13TH day of FEBRUARY, 2008 to the Minister
responsible for Nationality and Citizenship, PO.Box N-7147,
Nassau, Bahamas.

NOTICE

NOTICE is hereby given that CARMELITA FRANCIQUE OF P.
O. BOX EE-16652, PRINCE CHARLES DRIVE, NASSAU,
BAHAMAS, is applying to the Minister responsible for Nationality
and Citizenship, for registration/naturalization as a citizen of
The Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should send
a written and signed statement of the facts within twenty-eight
days from the 13TH day of FEBRUARY, 2008 to the Minister
responsible, for Nationality and Citizenship, RO.Box N-7147,
Nassau, Bahamas.

NOTICE

NOTICE is hereby given that STEVEN FLORESTAL OF P.O.
BOX N-8796, DELANCY STREET, NASSAU, BAHAMAS, is
applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a citizen of The









Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should send
a written and signed statement of the facts within twenty-eight
days from the 13TH day of FEBRUARY, 2008 to the Minister
responsible for Nationality and Citizenship, RO.Box N-7147,
Nassau, Bahamas.


THE TRIBUNE

WEDNESDAY, FEBRUARY 20, 2008, PAGE 7B





Ex-

FORMER Deloitte &
Touche (Bahamas) managing
partner, Macgregor Robert-
son, has been elected as Bank
of the Bahamas Internation-
al’s chairman, with retired
banker Peter Thompson
named deputy chairman.

The duo were elected to
the top non-executive posts
at the bank's first Board
meeting following its annual
general meeting in late Janu-
ary, a meeting at which
shareholders heard reports of
record performance and
strong asset growth. Share-
holders elected nine new
directors, and returned hote-

Baha Mar:
Incentives

Commercial Village buildings.

“We do see that during con-
struction that the total labour
needed, direct and indirect,
could go as high as 2,500 at its
peak.”

When asked whether its fail-
ure to hang on to all the land it
was initially granted by the
Christie government’s Heads
of Agreement in 2005, and the
Government’s refusal to grant
additiorfal incentives; would
hurt Baha Mar’s plans, Mr
Sands replied: “The bottom
line is that we believe the
agreement we have still allows
us to develop the project exact-
ly as we envisioned, with some
minor tweaks.

“We're very glad to have
been able to conclude these
intensive and protracted nego-
tiations to allow this fantastic
project.

“At the end of,the day, even
though we believe they were
complex negotiations, our
vision is intact. We are sure
the project will reflect the:cre=
ative vision we have.

“We are satisfied that the
agreement that we have, in its
present form, allows us to pro-
ceed with the project. It is
always important for us as
developers to negotiate what
we consider to be the best con-
tract for us. At the end of the
day, our agreement was mutu-
al.”

Under the supplemental
Heads of Agreement signed
between the Government and
Baha Mar on January 31, 2008,
the Government will retain
ownership of the Gaming
Board and the Bahamas
Development Bank buildings
and land.

In addition, Baha Mar and
its joint venture entity also
agreed to “relinquish its right
to purchase from the Treasur-
er” part of West Bay Street
and the median strip directly
opposite SuperClubs Breezes.

In effect, the main winner
from these two revised land
deals is SuperClubs Breezes,
as it will no longer be sur-
rounded on all sides by Baha
Mar.

In addition, Baha Mar had
_agreed to convey the West Bay
Street property mentioned
here back to the Government,
subject to it agreeing to lease
the land to PPL (Nassau) Ltd.

That company, according to
documents attached to the sup-
plemental Heads of Agree-
ment, appears to be the hold-
ing company for the Issa fami-
ly’s ownership interest in
SuperClubs Breezes.

The lease document says
PPL’s chairman is John Issa,
with Muna Issa named as its
secretary and treasurer. The
land has been leased to PPL
for 45 years, in return for the
payment of $10,000 per annum
in rent.

This transaction appears to
give SuperClubs Breezes con-
trol of all surrounding proper-
ty, including access to its resort.

Meanwhile, the attached
documents also showed that
the 50 acres of Crown Land on
Gladstone Road that the Gov-
ernment will lease to Baha
Mar for 50 years initially, once
the Caésar’s hotel reaches 100
feet in height, is located next to
the Bahamas Food Services
property.

Baha Mar Joint Venture
Company will also assume
responsibility for the Scotia-
bank branch lease at the Cecil
Wallace-Whitfield Centre.

eloitte chief
bank’s new chair

lier Robert ‘Sandy’ Sands
and Treasury financial secre-
tary, Ruth Millar, to the
Board. Paul McWeeney con-
tinues as managing director.

"Bank of the Bahamas
International has performed
extremely well for sharehold-
ers who have demonstrated
their loyalty over the years,"
said Mr McWeeney ina
statement.

"On behalf of the entire
executive and strategic man-
agement teams, I am pleased
to welcome Mac Robertson
and Peter Thompson to the
positions of chairman and
deputy chairman, respective-
ly, and to extend that wel-
come to all the new direc-
tors."

Mr Robertson, a founding
partner of the firm that
evolved into Deloitte and
Touche, served as its manag-
ing partner for the Bahamas
and Caribbean. He has
served as chairman of the
Board of Bahamasair and the
Bahamas Development

Bank.

Mr Robertson is a founding
member of the Bahamas
Institute of Chartered
Accountants, as well as a
member of both the Nova
Scotia Institute and Canadian
Institute of Chartered
Accountants.

Mr Thompson is a retired
banker, having worked for
many years in the Bahamian
banking industry where he
served in a top executive
position. He has previously
served on the boards of the
Bahamas Electricity Corpo-
ration, Bahamas Telecommu-
nications Company, Bahamas
Quality Council and the.
Bahamas Red Cross.

Other appointments during
the first Board meeting
included Laura Williams as
corporate secretary and
Yvette Johnson as assistant
secretary.

Directors elected at the
annual general meeting also
included businessman and
former banker Wesley Bast-

The Abaco Club on Winding Bay, Abaco, is looking to fill the
following positions in its Development Department. This is an

eight (8) year project.

Project Manager - Construction

¢ Minimum 10 years experience in construction management
Proficient in reading and understanding construction plans
Proficient in creating and monitoring of construction

schedules

Assist with development of forecasting and working

budgets

Proficient with Microsoft Word and Excel
Keen understanding of maintaining aggressive schedules

within planned budgets

° Needs good communication, logistical and organizational

skill

° Will work closely with larger GC on high-end product

¢ Minimum 5 years of construction site management

experience

Good working knowledge of timber and masonry

construction methods

¢ Working knowledge of construction materials
Proficient in reading and understanding construction plans
Proficient in fielding and resolving daily on-site queries

from contractors

Proficient in performing material take-offs

Proficient in creating construction schedules

Proficient with Microsoft Word and Excel

Needs good communication, logistical and organizational

skills

Quantity Surveyor/Estimator

¢ Minimum 5 years experience as a QS/Construction

Estimator

Proficient in reading and understanding of construction

plans

Proficient in material take-offs and creating Bills of

Quantities

Proficient in developing forecasting and working budgets
Proficient with Microsoft Word and Excel
Need good communication and organizational skills

Project Scheduler

¢ Minimum 5 years experience as a Project Scheduler
Proficient in reading and understanding of construction

plans

Proficient with Sure-Track scheduler program
Proficient with Microsoft Word and Excel
Need good communication and organizational skills

Procurement Officer

° Minimum 5 years experience as a Procurement Officer
° Detailed understanding of freight and shipping logistics
° Proficient with ordering and tracking of construction

materials

* Good working knowledge of construction materials
° Proficient with Microsoft Word and Excel
° Need good communication and organizational skills

Warehouse Clerk

° Good understanding of construction materials
° Good understanding of warehouse procedures
° Proficient with Microsoft Excel

Resume should be sent to Nick Sims,
Development Department,
The Abaco Club on Winding Bay,
P.O. Box AB-20571, Marsh Harbour, Abaco

-mail to construction@theabacoclub.com

A



ian, insurance executive Mar-
vin Bethel, attorney Ruth
Bowe-Darville, insurance
executive Patricia Hermanns,
College of The Bahamas edu-
cator Dr Pandora Johnson,
attorney Hartis Pinder and
insurance executive Patrick
Ward.

Bank of the Bahamas
International's year-end
results showed strong perfor-
mance in every category, with
a sharp increase in sharehold-
er value, net income of nearly
$11 million and more than
$110 million in total asset
growth.

It ended the 2007 fiscal
year with total assets of near-
ly $546 million. By the end of
this fiscal year, assets had
jumped to more than $658
million, an increase of some

20 per cent. Macgregor Robertson



OEE ISA

Auditors’ Report



To the Shareholders of National Bank of Canada



We have audited the Consolidated Balance Sheets of National Bank of Canada (the “Bank”) as at October 31, 2007 and 2006 and the
Consolidated Statements of Income, Comprehensive Income, Changes in Shareholders’ Equity and Cash Flows for the years then ended.
These financial statements are the responsibility of the Bank’s Management. Our responsibility is to express an opinion on these financial
statements based on our audits.

We conducted our audits in accordance with Canadian generally accepted auditing standards. Those standards require that we plan and perform
an audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit includes examining, on
a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by Management, as well as evaluating the overall financial statement presentation.

In our opinion, these consolidated financial statements present fairly, in all material respects, the financial position of the Bank as at

October 31, 2007 and 2006 and the results of its operations and its cash flows for the years then ended in accordance with Canadian generally
accepted accounting principles.

serene, mes ES



ae , fal: “Neti iak eneal

Samson Bélair/Deloitte & Touche s.e.n.c.r.l.
Chartered Accountants

Montreal, Canada, November 28, 2007

Consolidated Financial Statements
Consolidated Balance Sheet

































As at October 31 «
(railllons ofdollars) Note 2007 2006
ASSETS
Cash
a 283 268
Deposits with financial institutions 3,045 10,611_
Securitles ,
Available for sale (2006: Investment account) 3 8,442 6,814
Held for trading ; 4 30,828 31,864
39,270 38,678
Securities purchased under reverse repurchase agreements 5,966 7,592
Loans 5,6and7
Residential mortgage 15,895 15,385
Personal and credit card 13,116 11.319
Business aad government 19,377 20.667
48,388 47,371.
Allowance for credit losses (428) (426)
47,960 46,945
Other
Customers’ liability under acceptances 4,085 3,725
Fair value of derivative financial instruments 23 4,883 2,269
Premises and equipment 9 426 ‘385
Goodwill 10 703 683
Other intangible assets 10 169 177
Other assets ; 11 6,295 5,468
16,561 12,707
113,085 116,801.
UABILITIES AND SHAREHOLDERS’ EQUITY
Deposits 12
Personal 30,215 29,092
Business and government 33,797 33,998
Deposit-taking institutions 6,561 8,602
Deposit from NBC Capital Trust 225 225
70,798 71,917_
Other
Acceptances 4,085 3,725
Obligations related to securities sold short 16,223 15,621
Securities sold under repurchase agreements 2,070 9,517
Fair value of derivative financial instruments ; 23 3,620 1,646
Other liabilities 14 9,087 7,562
35,085 38,071
Subordinated debentures 15 1,605 1,449
Non-controlling Interest : 16 960 S76
Shareholders’ equity
Preferred shares ; 18 400 400
Common shares 18 1,575 1,566
Contributed surplus 19 32 21
Retained earnings 2,793 2,893
Accumulated other comprehensive income (loss) Land 2 (163) (92)
4,637 _ 4,788
= 113,085 116,801



Louis Vachon
President and Chief Executive Officer

Paul Goseii
Olrector

Interested persons may obtain a complete copy of the Audited Accounts
from SG Hambros Bank & Trust (Bahamas) Limited, P.O. Box N-7788,
‘West Bay Street, Nassau, Bahamas.
Europe trade deal ‘a great baseline’



FROM page 1B

international trade agreemént
facing the Bahamas that was
compatible with World Trade
Organisation (WTO) rules,
and joining now - on this
nation’s terms - would provide
it with a foundation and base-
line offer for far more rigor-
ous trade agreement negotia-
tions, such as the replacement
for the US Caribbean Basin
Initiative (CBI).

Mr Ferguson said of the
EPA: “This is not about just

protecting [market access to -

the EU] for the fisheries indus-
try and Polymers Internation-
al, but more so a matter of





from people who are
making news in their
neighbourhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an
award.

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

between 1991 and 1995.

passing.
Darien.

and family.

Friday, February 15, 2008



Share your business

The Tribune wants to hear

preparing the Bahamas for all
future agreements that are
pressing, such as the Caribbean
Basin Initiative and CaribCan
with Canada.”

Warning

Warning that the Bahamas
could find itself “isolated” in
the Western Hemisphere,
because it was the only nation
that was not part of a rules-
based trading agreement, he
added: “Our view is that the
EPA is the most flexible and
comfortable of the multilater-
al trade agreerments that the
Bahamas has to face.

“By joining now, we can














PRESS RELEASE

ISSUED BY THE COUNCIL. OF LEGAL EDUCATION



Keith Sobion Esq.

It was with a profound sense of: loss that the Chairman and full membership of the
Executive Committee of the Council of Legal Education received word of the passing of
Keith Sobion Esq. on Thursday 14" February. 2008.

The Executive Coynmittee of the Council was in meeting in Georgetown, Guyana when
the communication was received. But for his hospitalization, Mr. Sobion would have been
in attendance at that meeting.

Mr. Sobion was among the first graduating lass of the Hugh Wooding Law School in .
Trinidad and Tobago in 1975 and, at the date of his death he was the Executive Director of
the Secretanat to the Council on secondment from his substantive position as Principal of
the Norman Manley Law School in Jamaica.

Mr. Sobion joined the permanent staff of Council in 1996 when he took up the position of
Principal, and was seconded in 2006 to lead the Secretariat as Executive Director. Prior to

this, Mr. Sobion had served as a Member of Parliament in the administration of the PNM
Government in Trinidad and Tobago and as Attomey General of Trinidad and Tobago

Mr. Sobion’s was a life of public service. He was deeply committed and dedicated to a
vision for excellence and worked tirelessly in pursuit of the mission of Council in fulfilling
its role of developing competent, ethical lega] practitioners around the region.

All of the members of Council expressed their sorrow at his untimely and premature
Mr. Sobion is survived by his dear wife, Judich and their three (3) sons, Jules, Justin, and
Council extends the sincerest condolences of the Chairman and members to Mrs. Sobion
May his soul rest in peace and rise in glory.

Persons are invited to sign a Condolence Boo< at the Administrative Office of the Eugene
Dupuch Law School, second floor, Old National Insurance Building on Farrington Road.

it

fea stb

build the institutional capacity,
the negotiating capacity, make
the necessary legislative
changes and prepare the coun-
try to engage in a rules-based
trading system.”

He added of the EPA: “This
is going to be a great baseline
and preparation for WTO
entry, as well as negotiations
on the CBI and CaribCan.”

Under the terms of the EPA
agreement negotiated by
CARIFORUM on behalf of
the Bahamas and other
Caribbean nations, the
Bahamas - if it signs on - must
ultimately liberalise 75 per cent
of its services sectors and 86
per cent of its goods [market
access] sectors.

It can ‘reserve’ or exclude
some 25 per cent of its services
industries and just under 15
per cent of its goods sectors
from the EPA’s provisions,
and will also be able to open
others up in a phased liberali-
sation process over five, 10, 15,
20 and 25-year periods.

Sources told The Tribune
that the Bahamas has to sub-
mit its draft services offer on
the EPA by April, and a draft
version of this is being pre-
pared by Canadian consultants,
Mark Sills and Murray Smith.
The services aspect of the EPA
will only take effect five years

















after the agreement comes into
being, but consultation efforts
with the private sector have
already begun.

This newspaper was
informed that one area causing
a minor headache for the
Bahamas was telecommunica-
tions, given the status of cur-
rent attempts to privatise the
Bahamas Telecommunications
Company (BTC).

The EPA contains specific

articles referring to liberalisa- '

tion of the telecoms sector, and
the fear is that if a number of
European operators use this
to establish a commercial pres-
ence in the Bahamas, BTC’s
value in any privatization exer-
cise could be wiped out
overnight.
Signing

Given the five-year window
between the EPA’s signing and
the services aspect taking
effect, it is likely BTC will be
long-privatised and the issue
will disappear, but this is not
certain given the track record,
as the privatisation process has
been going on for more than a
decade.

Another area of concern is
likely to be the incentives
granted to Freeport, as a free-
trade or economic enterprise

zone, by the Hawksbill Creek
Agreement. Under rules-based
trading systems, there are
clauses such as ‘Most Favoured
Nation’ and ‘National Treat-
ment’, which prevent countries
from offering better incentives
to one country’s investors as
compared to another’s, and
providing better incentives to
Bahamian firms than foreign-
ers.

Yet investors in Freeport are
often able to access more gen-
erous incentives than are avail-
able elsewhere in the
Bahamas, and there have long
been concerns that some com-
panies have abused the ‘over-

- the-counter’ bonded goods sys-

tem by shipping product to
Nassau via Freeport to avoid
customs and stamp duties.
Documents produced by the
CARICOM Regional Negoti-
ating Machinery (CRNM)
reveal that among the main
services sectors CARIFO-
RUM has agreed to liberalise
are accounting; architecture;
engineering; computer and
related services; research and
development; management
consulting; services related to
manufacturing; telecommuni-
cations services; courier ser-
vices; environmental services;
hospital services; tourism and
travel-related services; enter-

THE TRIBUNE



tainment services; and mar-
itime transport.

Sectors

According to the CRNM,
the main sectors chosen by
CARIFORUM countries for

liberalization were “those that

have positive development
aspects, and in which member
states are seeking investment
or new technologies, as well as
sectors that are important to
create economic opportunities
in outsourcing contracts from
European firms”.

CARIFORUM?s main focus
was on liberalizing cross-bor-
der trade and investment, the
group having kept a tight grip
on temporary entry for EU
professionals, limiting this to
contract service suppliers and
independent professionals.

“The CARIFORUM sched-
ule of commitments on trade in
services and on investment
does not include the Bahamas
and Haiti, which will make
such submissions in the first
half of 2008 for incorporation
in the overall CARIFORUM
schedules within six months of
signature of the agreement,” a
CRNM briefing paper said, on
how professional services
would be treated under the
EPA.

THE BAHAMAS CHAMBER OF COMMERCE

IN ASSOCIATION WITH

THE U. S. EMBASSY ano BAHAMAS DEVELOPMENT BANK

hosts a

FRANCHISING SEMINAR & EXPO

Monday February 25th and Tuesday February 26th @ 8:36 am - 5:00 pm
at the BRITISH COLONIAL HILTON HOTEL

- Topics and Special Guest Speakers include:

«THE A~Zs OF FRANCHISING: .
John P, Hayes, Ph.D, Hayes Worldwide.com, Hayes Marketing Services

Cost: $75

«US FRANCHISORS PRESENTATIONS:

Salad Creations; Planet Beach Contempo Spa; Billboard Connection; Aerobaloon; Signarama;

~ Marble Slab Creamery; Pretzel Maker; Shoebox New York; Maggie Moo’s Ice Cream and
Treatery; Officel Stationery Franchise; JuiceBlendz International

«FINANCING YOUR FRANCHISE:

;

|
\
}
|
i

ae
i

| « SPECIAL LUNCHEON:
Adam Ogdena, Entrepreneur/Founder-CEO, JUICEBLENDZ Franchise

|» LOCAL FRANCHISE LAWS:
John Delaney, Managing Partner, Higgs & Johuson
Ryan Pinder, Attorney-at-Law, Becker Poliakoff, Miami, Florida

Calvin Knowles, Managing Director, Bahamas Development Bank

© OWNING AND OPERATING A U.S, FRANCHISE ROUNDTABLE DISCUSSION:

Gershan Major, Mail Boxes Ete—Caribbean

Chris Tsavoussis, Wendy's Restaurants

Scott Farrington, Sun Tee Ltd. / Embroid Me

- Keith Glinton, Esso / On The Run

: Executive speakers include: Philip Simon, Executive Director, Bahamas Chamber of Commene; Dr, D, Brent Hardt,
. Deputy Chief of Mission; Dionisio D, Aguitar, President, Babamas Chamber of Commerce; Darron Cash, Chairman,
' Bahamas Development Bank; H.E. Ned Siegel, Ambassador U.S. Embassy Bahamas; Hon. Zhivargo Laing, Minister of

' State, Finance

Register today at The Bahamas Chamber of Commerce!
Call 322-2145 or email abutler@thebahamaschamber.com

“The Tribune looks

out for my interests.

The Tribune is my

newspaper.”

NELSON JOHNSON
TAXI DRIVER



The Tribune

My Vevce. ly Jlewsoqper!



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