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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1 Lhe Tribune

ANY TIME...ANY PLACE, WE’RE #10

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Volume: 104 No.109

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BAHAMAS EDITION



Patricia
Johnson

ttt

Challenging ‘art
experiences’
SEE ‘THE ARTS’

STE
TPO Te

Ss

Naa SS

4239 unlicensed firearms



Police reveal
gun statistics

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

THE Firearms Licensing Sec-
tion of the RBPF is trying to
get a handle on the more than
4,000 unlicensed firearms in The
Bahamas. ,

Statistics reveal there are
4,233 unlicensed firearms in the
country, an offence punishable
by 12 months imprisonment
and/or a $300 fine.

Firearm licences expire annu-
ally on December 21 but a 14-
day grace period is extended
after the expiration date, Asst
Supt Clifford Ferguson said at a
press conference at the Criminal
Records Office en Tuesday

attended by ASP Walter Evans
and Woman Sergeant Rena
Major.

Any person who fails to re-
license their firearm within the
time-frame is in breach of the
Firearms Act and subject to a
penalty, he added.

“Any person who is found in
possession of an unlicensed
firearm is subject to imprison-
ment of 12 months or a $300
fine...or both”, ASP Ferguson
said.

Under current Bahamian law,
shotgun or rifle licences are
granted for hunting or bird-
shooting purposes — not for
personal safety, ASP Ferguson

SEE page eight

MP: Mona Vie issue more than
an ‘administrative oversight’

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

SEEKING to set the record straight, PLP MP for St Thomas More
Frank Smith responded to Monday’s editorial in The Nassau Guardian,
calling the Mona Vie scandal more than an “administrative over-

sight”, as the editorial suggested.

’ Mr Smith has pushed the debate over the Mona Vie juice drink
and has called for the resignation of the FNM Minister of State Zhivar-
go Laing for intervening in, and lowering, the tariff rate at the request

of his brother, Tyrone Laing.

In a statement issued yesterday from the PLP, Mr Smith outlined
“the facts” showing that Mr Laing had erred on at least three separate

accounts.

He claimed that he failed to recuse himself as was appropriate

because relatives were involved.

He alleged that his personal conduct throughout the relevant peri-
od has not been consistent with standards expected of a Minister,

SEE page eight



ASP CLIFFORD FERGUSON spoke to the media yesterday updating them o on ane tears issue. To his righ





is Inspector Rodney Williams and to his left is Sgt.:Rena Major.

aR mS TATA



Visitors warned not to communicate

with testifying Election Court witnesses



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

VISITORS at the Election
Court have been warned by
Senior Justice Anita Allen not
to communicate with any wit-
ness who is testifying.

Fred Smith, Zhivargo Laing’s
lead attorney, raised an objec-
tion yesterday suggesting that
someone in the gallery might
have assisted Fred Moss, a wit-
ness for Pleasant Bridgewater,
in remembering a name while
he was in the witness box.

Mr Moss, who is a veteran





campaign manager for the PLP
in Grand Bahama, was attempt-
ing to remember the name of a
Luxson Tellis, when he looked

- down from the stand before say-

ing the name.

It did not appear that anyone
assisted him with hi$ answer,
but Mr Smith raised the objec-
tion and the senior justice
warned the court. Visitors, she
said, are to make no comments,
and any attempt to assist a wit-
ness with testimony amounts to
contempt.

Mr Moss, who is currently a

SEE page eight

South Seas developer

â„¢ Tim Clarke/Tribune staff

Police drag
naked vagrant
man through

Rawson Square

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

TRAFFIC briefly came to a
halt yesterday morning on Bay
Street as police dragged a naked
vagrant through Rawson
Square and down Bank Lane
while motorists, passersby and
tourists watched the spectacle.

When The Tribune arrived in
the Square at 11.30am, two offi-
cers were attempting to take the
man, who appeared to be in his
40s into custody. He refused to
cooperate, however.

As the officers attempted to
escort him to Central Police Sta-
tion, without handcuffing him
— they were merely guiding him
by his pants — he repeatedly sat
in the southern lane on Bay
Street, just in front of Queen
Victoria’s statue.

After repeated efforts to take
the man to the station peace-
fully, he became more agitated

SEE page eight

No significant changes
in staff at resorts
despite predictions
of a ‘soft summer’

@ By KARIN HERIG
Tribune Staff Reporter

kherig@tribunemedia.net

DESPITE predictions of a
“softer summer” for Bahamian
hotels, operators of New Prov-
idence’s largest resorts said that
so far there have been no Sig-
nificant lay-offs and work weeks
have not been cut short in any

Burnt corpse believed to
be connected to house fire
@ By TANEKA THOMPSON

Tribune Staff Reporter
tthompson@tribunemedia.net

unprecedented manner.

Both Atlantis and the Baha
Mar Cable Beach Resorts told
The Tribune that although they
are preparing for any possible
affects on the Bahamas’ tourism
industry from the downturn in
the US economy, no significant
changes in staffing have been
made at this time.

As the Bahamian economy
braces for the impact of a pos-
sible recession in the US, many
employees in the hotel indus-
try fear that their work weeks

_ could be cut down by as much
as two or three days.

Senior vice-president at
Kerzner International in charge

SEE page eight

moves to assure public

SOUTH Seas developer Tennyson Wells
assured the public yesterday that the gated com-
munity, which is planned for the southern end of
New Providence, has met all request require-
ments of both the BEST Commission and the
Ministry of Works.

In fact, Mr Wells, who once served as a Min-
ister and Attorney General in the previous FNM
government, said he was “surprised” to read of
North Eleuthera High school caught fire, Assis- the concerns of the Millars Creek Preservation
tant Superintendent Walter Evans said Tues- Group in the Nassau Guardian yesterday.
day. In a statement from Emmanueal McKenzie,

Reports from the island indicate the fire start- the head of the Millars Creek group, Mr McKen-
ed around | am Saturday. zie claims that Mr Wells and his investors have

Witnesses told police they saw a man flee the continued to destroy a vast portion of Millars

SEE page eight SEE page eight

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PAGE 2, WEDNESDAY, APRIL 2, 2008

THE TRIBUNE





ATES UCM De EEL

TT CCT RLU

POLICE Fire Branch officers spent the bet-
ter part of Monday fighting a bush fire which
raged in the area of Carmichael Road near the
approach to the Bacardi Factory.

Corporal 368 Delancy told The Tribune that
the officers arrived on the scene at around noon
on Monday, and after they were unable to extin-
guish the blaze, had to call for a back-up team to
assist them.

When he spoke to The Tribune at around
4pm, Cpl Delancy said his fire truck had already
made four trips for its 1,000 gallon water tank to
be refilled.

He said that between seven and nine acres of
bush had already been consumed by the fire.

According to Cpl Delancy, such bush fires
are an everyday occurrence at this time of year,
and Monday’s blaze was not a particular cause
for concern, as it did not threaten any homes.

He said that his team was unable to extinguish
the fire, but was able to get it under control
and encourage it to travel in a direction which
would allow it to burn out. ;

Cpl Delancy pointed out that the Fire Branch
would benefit greatly from some additional
equipment to combat these seasonal fires,
including tractors — which could be used to cut
“roads” into the centre of the fire, giving fire-
fighters a better chance of extinguishing the
entire blaze.







TERIOS

Security guard,
on duty when
businessman was
killed, testifies

Valentino Allen
says he has been
left scarred by
the incident

m By NATARIO
McKENZIE

A SECURITY guard on
duty at the Bank of the
Bahamas the day business-
man Keith Carey was shot
and killed gave his account
in court of how incident took
place.

Valentino Allen, the only
prosecution witness to take
the stand yesterday, told the
court that has been left
scarred by the incident.

“Up to this day I can’t see
myself doing any more secu-
rity work,” he told the court.

Allen testified that he
began working as a security
guard at the Bank of the
Bahamas located on the
Tonique Williams Darling
Highway only two or three
weeks prior to the incident.

The witness, who was 19-
years-old at the time, told the
court that he worked for
Maximum Security and was
posted at the bank’s main
entrance.

The witness told the court
that around 10.50am on Feb-
ruary 27, 2006, he saw the
victim pull up in a blue Nis-
san hatch-back, then watched
a gunman wearing a white
shirt, blue jeans and a orange
cloth around his nose exit a

He testified that the gun-

man had exited the back seat
of the car and was one of
three persons in the vehicle,
along with the driver and a
front seat passenger.

The witness told the court
that after Carey fell to the
ground, the shooter took the

bag the victim had been car- |

rying and fled the scene in
the car.

Allen testified that the
entire incident took place
within a minute or two.

He told the court that he
heard two shots but that
there could have been more.

Allen said that Carey crept
up the stairs leading to the
bank’s entrance crying out
for help.

He said that Carey made it
up to the top of the stairway
before he collapsed. Allen
said that at this point he con-
tacted his command centre
to inform them of what was
happening.

During: cross-examination

white Nissan Maxima,
approach Carey and shoot
him.

Allen told the court that the
gunman appeared to be
between five foot seven and
five foot eight inches tall, dark
skinned and of medium build.

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by attorney Craig Butler,
who is representing Jamal
Glinton, one of the accused
men, Allen said that he was
interviewed by police follow-
ing the incident and gave
them a statement which he
signed but did not see again
until several days later.

Mr Butler suggested that
the first time he had seen the
statement was a few days
ago. Allen however denied
this suggestion.

Mr Butler also suggested
that following the shooting,
the witness told police that
he had seen the gunman exit
the vehicle from the front
passenger seat but had told
the court that he had seen
the gunman exit the back
seat. a

Allen said that he told the
court the same thing he had
told police and that the
police may have made a mis-
take in recording his state-
ment. a hs

Mr Butler then asked.the
witness why he.had not
brought this to the attention
of the police and went on to
suggest to the witness that he
was lying. Allen denied that
he was.

Attorney Romona Far-
quharson, who is represent-
ing the accused Sean Brown,
also attempted to point out
inconsistencies between
Allen’s statement to police
and his testimony in court
yesterday.

Ms Farquharson said that
the witness had told police
that he could not see how
many people were actually in
the car. Allen however
denied this assertion.

The murder trial of the
two men opened last Thurs-
day before Justice Stephen
Isaacs.

Jamal Glinton and Sean
Brown are also charged with
armed robbery and conspira-
cy to commit armed robbery.

Vaughn Carey, a cousin of
the victim, is charged with
conspiracy to commit armed
robbery.

Prosecuting the matter is
deputy director of Public
Prosecutions Cheryl Grant-
Bethel. She is assisted by
Stephanie Pintard and Eucal
Bonaby.

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THE TRIBUNE

WEDNESDAY, APRIL 2, 2008, PAGE 3



© In brief

Developers
donate money
to anti-crime
organisation

THE Albany developers have
announced the donation of
$50,000 to the organisation
Bahamas Against Crime.

“This cheque serves as the
first instalment in Albany’s
overall commitment of $100,000
to BAC,” said the company in a
statement.

Bahamas Against Crime was
established in 2007 by Rev CB
Moss and is working with inner
city communities to fight crimi-
nal activity.

Fire officers
find 35 live

rounds of
ammunition

AT AROUND 9am on Mon-
day, officers from Fire Services
Division discovered 35 live
rounds of ammunition in the
East Bay Street area, police
said.

Assistant Superintendent of
Police Walter Evans said the
officers received a public tip
leading them to East Bay Street
where they found ammunition
outfitted for high-powered
weapons.

The rounds were confiscated,
however, no arrests have been
made in connection with the
discovery, ASP Evans said.

Retired Police
Officers group
seeking new
president

THE Retired Police Officers
Association will hold a nomi-
nation ceremony for a new pres-
ident this Friday.

Nominations to fill the vacan-
cy will be held April 4 at the
association’s office at the RBPF
héadquarters on East Street
between 9am and 12pm.

Former president Errington
Rahming died in January after a
long record of service.

A bodyguard of former prime
minister Sir Lynden Pindling
for two decades, Rahming also
served as a superintendent of
police.

The association was formed
in late 2003 by former police
commissioner Paul Farquhar-
son to build a closer bond
between retired officers and to
provide additional benefits for
members.

OVERSEAS NEWS
Drug lord
jailed for 30
years in Brazil

@ SAO PAULO, Brazil

A reputed Colombian drug
lord whose cartel is accused of
having shipped hundreds of
tons of cocaine to the United
States was sentenced yesterday
to more than 30 years in prison
in Brazil for crimes commmit-
ted in that country.

Juan Carlos Ramirez Abadia,
who was arrested last year in
Brazil, was found guilty of mon-
ey laundering, corruption, con-
spiracy and use of false docu-
ments in this South American
country. Besides the sentence,
Ramirez Abadia must also pay
a fine worth $2.5 million.

“Tt was proved that after July
of 2004, Juan Carlos Ramirez
Abadia has channeled his busi-
ness in Brazil mainly toward the
acquisition of properties, vehi-
cles, and other objects using the
money resulting from drug traf-
ficking in Colombia,” Judge
Fausto Martin de Sanctis said
in a statement.

But Ramirez Abadia, who is
also known as “Chupeta” or
“Lollipop,” may not have to
serve time in Brazil.

Last month, Brazil’s Supreme
Court ruled he can be extradit-
ed to the United States to face
racketeering charges. President
Luiz Inacio Lula da Silva will
have the final word on whether
he stays in Brazil to serve his
sentence or is extradited imme-
diately to the United States.

In his ruling, the judge
advised against extraditing
Ramirez Abadia until he has

served his time in Brazil.

HARL TAYLOR/THADDEUS MCDONALD KILLINGS

Police chief urged
to update public on
murder inquiries

POLICE Commissioner
Reginald Ferguson is being
urged to “update” the public
on inquiries into the murders of
known homosexuals Harl Tay-
lor and Dr Thaddeus McDon-
ald.

The call has come from Bish-
op Simeon Hall, whose open
letter to Mr Ferguson claims
that many people are drawing
“uncomplimentary” conclu-
sions about the police.

However, Police Commis-
sioner Ferguson told The Tri-
bune yesterday that the inves-
tigation continues and pointed
out that in a capital offence,
there is no statute of limitations
so at no point in the foresee-
able future would this case be
closed.

“We continue to explore all
information about the case but
are not in the position to make
any arrests. If any member of
the public has information to
share they should come for-
ward,” he said.

Handbag designer Harl Tay-
lor and College of the Bahamas
senior lecturer Dr Thaddeus
McDonald were both savagely
murdered last November.

Dr McDonald was clubbed
to death with a clothing iron at
his home in Queen Street, and
Mr Taylor was brutally stabbed
at his West
Hill Street

Bishop-sends open letter to
Commissioner Ferguson



TaN


















home,

Mountbat- . A

ten House, “I believe that it

some hours is crucial for fam-

gee fae ilics of murdered =

still unable Peagcustuomcemeeyeteree SES Fone
to say ue to hold faith in Sau: ehealdl
whether the the police so that always know)

killings are
related, and
no-one has

been be more
ae warm bearable.”
ar.

Bishop
Hall, of New
Covenant
Baptist
Church, tells Mr Ferguson in
his letter: “You might know
that there are very many peo-
ple in the community who are
coming to their own conclu-
sions, some of which happen
to be most uncomplimentary
as regards to police compe-
tence and integrity.”

He adds: “Please believe me
when I tell you that I write in a

veto orbbe Mey mem Ont
loved one might



eae
Bishop Simeon Hall

what some con-
cerned citizens
are saying.”

Praising Mr
Ferguson for
doing “a stellar
job”, Bishop
Hall nonethe-
less states that
some officers “do leave much
to be desired”.

And he draws attention to
“prieving Bahamians” whose
sons, daughters, neighbours,
family and friends had been
brutalised, some of them killed.

“In recent times, while the
police have assured us that they
are doing everything in their
power, there remains a persis-
tent tale to the effect that the

Thaddeus McDonald



same police are somehow and
for some reason involved and
complicit.”

In some instances, says the
Bishop, there is a suggestion
that police have solved some
cases, but are prevented from
naming names.

“It is in this spirit I hereby
entreat you — in the holy name
of Jesus — to step forward and
address some of the issues
implied and stated in these con-
cerns of mine and in light of
what so many other Bahami-
ans are saying.

“Even now, some of them
are losing confidence in the
police. I believe that it is crucial
for families of murdered vic-
tims to continue to hold faith in
the police so that the pain of a
lost loved one might be more
bearable.”

Referring specifically to the
McDonald-Taylor case, Bish-
op Hall tells Mr Ferguson: “I
believe it is important that you,
sir, update the public as to
where your investigations are
in these matters.”

Twelve weeks after the dou-
ble murder, The Tribune’s
INSIGHT section said concern
was growing that a “cover up”
was underway because of high-
level gay activities in the police
force itself.

It suggested that an influen-
tial gay network in Nassau was
probably trying to keep the
case under wraps because of
possible exposure of prominent
names.

Signing of $25m contract for
new Eleuthera power station

MINISTER of State for Util-
ities Phenton Neymour
announced yesterday the sign-
ing of a $25 million contract for
the installation of a new power
station in Hatchet Bay,
Eleuthera.

The contract, which was exe-
cuted by Frederik Gottlieb on
behalf of BEC, as a result of
months of negotiations and
review, is with the company
Man Diesel.

The signing of the contract is
consistent with a number of
upgrades and installations in the
Family Islands planned by the
government, BEC said in a
statement yesterday

The power station will con-
sist of four MW diesel genera-
tors and will be capable of pro-
viding power to all of Eléuthera,
it said.

“Commercial power will be
provided before summer 2009.
All residents of Eleuthera and
in particular residents of Har-
bour Island, will be better
served as the new plant will be
more reliable and efficient. This
will also allow for the decom-
missioning of the power station
that is presently in Harbour
Island,” BEC said.

Mr Neymour said this is one
of a number of steps included in
the strategic plan of the corpo-
ration to improve its delivery
of service to customers in
Eleuthera. -

Other planned works include
the upgrade of overhead line
circuits (the north feeder which
supplies North Eleuthera),



Phenton Neymour
installation of another subma-
rine cable to Harbour Island
and transformer upgrades,” he
said.

“Training of staff will also be
a fundamental component of
the planned works as the cor-
poration proceeds to strengthen
its human resources at all lev-
els,” said BEC.

This announcement follows
sustained complaints by Har-

ia
i)

FOR PEST PROBLEMS
PHONE: 322-2157



bour Island residents who say
constant power outages are
affecting their tourism industry.
The residents, who claimed
the problem was particularly
bad over the Easter weekend,
said they were planning to hold
a “peace rally” in an effort to
bring attention to the issue.

Finan

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Share your news

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

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

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PAGE 4, WEDNESDAY, APRIL 2, 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, P.O. Box N-3207, Nassau, Bahamas
Insurance Management Building., P.O. F-485, Freeport, Grand Bahama

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager - (242) 502-2352
Circulation Department - (242) 502-2387
‘Nassau Fax: - (242) 328-2398
Freeport, Grand Bahama: 1-(242)-352-6608
Freeport fax: (242) 352-9348

Making a mountain out of a ‘Mona Vie’

WE DECIDED not to enter into the so-
called Mona Vie “scandal” until we had heard
all sides of the argument and could judge for
ourselves whether St Thomas More MP Frank
Smith had a tiger by the tale or a wee mouse.

Last week The Nassau Guardian did a ran-
dom survey in which a handful of Bahamians
considered that a mountain was being made
out of a mole hill. Since then we have talked
with many people, who, like ourselves, thought
at first that Mr Smith might have been onto
something, only to find that the tiger has dis-
appeared and the MP has been left holding a
tiny mouse by the tail.

And so we were surprised at the report in
Monday morning’s Tribune that Mr Smith was
still swinging his little mouse and taking up
radio air space Sunday afternoon to regurgi-
tate his FNM “scandal”. Our advice to Mr Smith
is to let the poor little “beastie” go while he’s
still got a bit of a squeak left in him. There are

_ far bigger political prey out there for Mr Smith
to get his teeth into — especially if the object of
his exercise is to shed his lightweight status and
transform himself into a political heavyweight.

The Mona Vie conflict-of-interest-nepotism
accusations were launched in the House in mid-
February when Mr Smith questioned State Min-
ister for Finance Zhivargo Laing about his
alleged involvement in lowering Custom’s duty
on the Mona Vie fruit crink sold by his sister-in-
law. He accused Mr Laing of using his position
to instruct the Comptroller of Customs to low-
er the tariff on the drink from 45 per cent to 10
per cent and called for the Minister’s resigna-
tion. Of course, the Comptroller’s decision not
only affected Mr Laing’s sister-in-law, but many
other vendors who sold the same drink. Like-
wise their customers, who now had to pay more
for the liquid refreshment.

On March 10, Mr Laing explained to the
House what had transpired from the time his sis-
ter-in-law made a formal complaint in writing to
the Comptroller of Customs in September 2007
questioning his decision to change the duty on
the juice previously imported by her and other
vendors from the rate of 10 per cent to 45 per
cent. In October, 2007 the Comptroller in a let-
ter of reply said that while the department was
conducting a review into the classification and
rate of duty of the product, the vendor should
continue to apply the rate of 10 per cent. In
other words, the rate was already 10 per cent.
Mr Laing had nothing to do in setting that orig-
inal rate. The question arose when the Comp-
troller raised the rate to 45 per cent and was
then instructed to return it to its original rate of
10 per until the matter could be dealt with dur-
ing the budget process.

On March 10 Mr Laing told the House that
the Secretary for the Revenue contacted the











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Customs Department in Freeport on the issue ~

last year. The Revenue Secretary was told by
Customs that the rate had already been
increased to 45 per cent.

The Revenue Secretary told Customs that it
was not normal practice to change a rate of
duty in mid-year thereby affecting the cost of
doing business without notice. The Secretary
instructed the Customs Department to let the
lower rate of 10 per cent remain until budget
time, which was the usual practice. The matter
would then be considered when the budget was
under revue.

Despite these instructions, the Comptroller
of Customs wrote to Mr Laing’s sister-in-law in
November informing her that the World Cus-
toms Organisation had said that the fruit drink
should be under a different classification. This
classification would attract the 45 per cent rate
of duty. He then increased the duty.

Surprised that the Comptroller would take
such action without reference to the Ministry of
Finance and after the Secretary of Revenue
had already given instructions to allow the duty
to remain at the lower rate until budget time,
Minister Laing discussed the matter with the
Financial Secretary and the Secretary of Rev-
enue who both agreed that changing the rate of
customs duty on imports mid-year was unusual.
It was agreed that the rate should remain at 10
per cent until the 2008/09 budget. And so the
original 10 per cent duty remained. Nothing
seemed amiss in this procedure.

However, the dispute escalated when the
Comptroller, now in retirement, in a press inter-
view declared that putting the fruit drink in the
wrong classification was both “improper” and
“illegal”.

Mr Ingraham, as Minister of Finance, then
told the House that only the Minister of
Finance, not the Comptroller of Customs, can
legally determine the rate for customs duty. He
said that Mr Laing, as Minister of State for
Finance, had the legal authority to do what he
did. He said Mr Laing was acting within the
authority he had delegated to him.

This seemed to end the matter, unless, of
course, Mr Smith’s argument is that the Comp-
troller of Customs has more authority than the
Finance Minister in deciding this country’s tar-
iffs.

The matter, as outlined seems simple,
straightforward and sensible. Mr Smith has
insisted that Mr Laing has not told the full sto-
ry. Maybe he hasn’t told the story that Mr Smith
is anxious to hear. However, if there is more to
the story, then Mr Smith, please stop the guess-
ing game. Let us in on your secret. You tell the
story. But unless you can give a more convinc-
ing account than Mr Ingraham, for heaven’s
sake, let the little mouse go.



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Misleading

comments

about bank
lending terms

EDITOR, The Tribune.

AS reported in the March
10, 2008 issue of The Bahama
Journal, former Chairman of
the Bahamas Electricity Cor-
poration (BEC), Mr Alfred
Jarrett, made a number of
statements that are mislead-
ing regarding the Inter-Amer-
ican Development Bank’s
lending terms.

It is a fact that in 2003 the
BEC decided to prepay its
four loans with the Inter-
American Development Bank
(IDB) for a Rural Electrifica-
tion Programme for the Fam-
ily Islands.

At the time of prepayment
the weighted average interest
rate of the loans was 6.21 per
cent.

The first of the four loans
was approved in 1988. During
that period, the IDB offered
fixed rate loans from a Cur-
rency Pooling System (CPS)
set at 8.3 per cent, which was
comparable with prevailing
market rates at that time.

The ensuing two loans
approved in 1991 under the
CPS carried a six-month
adjustable rate, which at the
time of prepayment was 4.85
per cent.

The fourth loan approved
in 1996 under the US Dollar
Single Currency Facility
(SCF), also had a six-month
adjustable rate, which was 4.96
per cent at the time of pre-
payment.

To cancel the four loans,
BEC borrowed: short-term
from commercial banks.

It is unfair and inaccurate






OBIS

letters@tribunemedia.net

to contrast the interest rate on
a 20-year loan obtained in
1988 with the short-term (five
years) loan obtained in 2003,
when the London Inter-Bank
Offer Rate (LIBOR) was at
an all-time low.

It should be noted also that
all four loan agreements
allowed for advance payments
without any penalty or cost
reimbursement to the IDB.

The Bank’s lending rates
reflect our cost of funds, which
have always been in line with
those prevailing in the inter-
national market for triple-A
rated borrowers plus a stan-
dard spread, currently 0.15
percent — certainly not a mar-
gin that fits Mr Jarrett’s char-
acterization of the Bank.

The Journal article actually
quoted him as saying that
back in the 1980s those loans
were “a good bargain.”

The lending products of the
Bank have continually
evolved with the market and
with our borrowers’ needs.
For example, in the second
half of 2007, the interest rate
that the Bank charged to its
sovereign borrowers under the
LIBOR-based lending prod-
uct was actually below
LIBOR.

Additionally, countries that
work with the IDB have
access to other benefits.

The Bank’s development

knowledge, technical exper-
tise in various sectors, and
project development and exe-
cution expertise are integral
to the projects it helps to
finance.

These benefits are absent
from private capital market
issues.

The IDB was founded in
1959 to support the economic
and social development of its
Latin America and Caribbean
member countries.

It is owned and directed by
its member countries and has
grown from an initial mem-
bership of 19 countries, to 47
members currently.

The Bahamas became a
member of the Bank in 1977
and is ably represented on the
Board of Executive Directors
of the Bank.

The 47 member-country
shareholders of the IDB
would never allow the terms
of its loans to be either exces-
sive or punitive.

To the contrary, the IDB
has consistently sought to be a
partner for progress for the
countries in Latin America
and the Caribbean.

We remain committed to
supporting our members in all
“seasons” as a supplier of
affordable financing for sus-
tainable development in the
region.

OSCAR E SPENCER
IDB Representative
in The Bahamas

Nassau,
March, 2008.

Should Bahamian design be an
essential for tourism projects?

EDITOR, The Tribune.

BASICALLY there is no
such architectural design or
vernacular which is uniquely
Bahamian — what we have
and what has since the 1700s
attracted visitors and future
settlers is the distinctive New
England style of architecture
coupled with the use of pastel
shades. Unique in the natural

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island setting.

Many argued when Carni-
val introduced what many
describe as ‘ugly’, the ‘cruise-
line style’ of The Crystal
Palace on Cable Beach and
also the unoriginal design of
Atlantis which is probably

more of a style one would find’

in Morocco than anywhere
else.

To my eye Town Planning is
making a drastic mistake and
is the cause of the loss of the
beauty of our adopted New
England style architecture
which you no longer see and
should be a high priority if we
wish to retain some sort of
connection with the why peo-
ple actually wish to visit.

As is already said to visitors
to Key West - Welcome, you
will see here the best of Colo-
nial architecture in a clean
environment!

Christopher Anan Co-Chair
of The Albany Development

Company indicated that the
architectural design of the
Apartment buildings, etc, the
centre-piece of their multi-mil-
lion dollar mega Marina was
‘inspired’ by New York and
London architecture.

I ask what some might think
is flippant or even stupid —
then Mr Anan why build
something in The Bahamas
which is obviously not
Bahamian?

I sincerely hope that a Cab-
inet directive will be given to
ensure that Bahamian Archi-
tecture will be the principal
theme of all projects in the
future and should include
Albany.

The next thing someone will
want to do is to build a replica
of the Tower of London or
Big Ben in Rawson Square!

K MINNS
Nassau,
March 20, 2008.

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THE TRIBUNE

WEDNESDAY, APRIL 2, 2008, PAGE 5



blamed on San

LOCAL NEWS

Delaporte Beach degradation

@ Residents say that damage will continue
because canal was cut through the beach

The following is part of a series
of articles about beach erosion in
Nassau due to construction in the
coastal zone. Information and
photos are provided by citizens
who have documented damage
to beaches for more than 15

years.

PHOTOS:

Beach erosion/
NE VICMM NO Mmernat es tity





A NOVEMBER 2004 photo shows
sand removal in progress after
extensive canal dredging. Large
quantities of sand were trucked
into Sandyport for construction of
artificial beaches.

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

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





ANDYPORT is a
residential commu-
nity that was estab-
lished in 1989 with
the construction of a canal that
was built through the middle of
Delaporte beach to create the
Sandyport canal system.

Today, almost 20 years later,
photos show that the negative
environmental and social
impact of building the canal
through the beach is still being
felt along this stretch of coast-
line. The beach has been severe-
ly eroded in places and, accord-
ing to residents, tons of sand
have been removed from the
coastal system since 2004 when
residents started photograph-
ing and documenting Sandy-
port's dredging activities.

It should be remembered
that the canal was cut through
the beach despite concerns
expressed by citizens. Since
then, the channel, along with
the jetties that extend out into
the sea, has restricted access
along the beach.

Since the canal was built,
sand from the beach and sur-
rounding coastal area has filled
into the canal, requiring peri-
odic dredging to keep the
entrance clear. According to
residents, "If the canal were not
dredged, it would soon fill in
with sand, and the beach would
be allowed to repair itself."
Residents estimate that, even
since 2004 alone, Sandyport has
removed enough sand to restore
the entire beach several times
over.

In 2005, a representative for
Sandyport confirmed that the
developer had been using sand
from the canal to build beaches
in Sandyport (Sandyport has
built a large beach near their
hotel in the lagoon, and sells
residential lots with artificial
beaches as beachfront lots).

Also in 2005, residents of
Delaporte noticed erosion along
the entire length of the beach
on both the western and eastern
sides of the canal.

In an effort to halt this ero-
sion, residents consulted a
coastal engineer who said the
Sandyport canal should not
have been built through the
beach.

He confirmed that the sand
being removed from the coastal
system through canal dredging
contributed to the erosion.

He advised that the sand that
was being removed from the
canal should be returned to the
beaches, free of rocks and
debris. He added that restoring
the dunes and planting them
with Sea Oats and other salt-
tolerant plants would help bind
the sand and restore the beach.

The engineer also urged res-



SAND DREDGING operations in Sandyport canal in Ma

-

Ratan EROSION: A February 2005 photo shows extensive ae on Mr



BEFORE EROSION: A September 2003 photo shows a portion of Delaporte

beach before it was eroded.

idents to notify the relevant
government agencies responsi-
ble for controlling the mining
of sand and the issuing of dredg-
ing permits: the Ministry of
Works and Utilities and the

. Department of Lands and Sur-

veys.

The residents of Delaporte
have documented Sandyport’s
canal clearing operations since
2004, with supporting pho-
tographs, and sent this material
to The Prime Minister’s Office
and Cabinet (current and for-
mer), the Ministry of Tourism,
the Ministry of Works & Utili-
ties, the Department of Physical
Planning, the Department of
Lands & Surveys, the Port
Department and the BEST
Commission.

Since 2004, sand has been
observed being removed from
the canal in October 2004,
November 2004,
February/March 2005, May
2006 and September 2006. Dur-
ing this period, tons of sand
were trucked to Sandyport.

According to residents liv-
ing in the area, the damage to
Delaporte beach and the nearby
coastal system will continue
indefinitely because the canal
was cut through the beach.
Despite the developer’s assur-
ances that they had conducted
environmental studies, the
degradation of the beach is
there for everyone to see. The
canal should never have been
cut through the beach.



weet.



a; SSeS}

rch 2005. The

large piles of sand were later trucked into Sandyport.



dyport Canal

@ Access along beach is restricted by canal
jetties

sh.





“If the canal
were not
dredged, it
would soon fill
in with sand,
and the beach
would be
allowed to
repair itself.”







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at

r 2006 show Delaporte Point and the
Sandyport development. The photo shows the natural beach that was cut
in half by the canal, a large artificial beach in the lagoon, artificial beach-
es on Sandyport canal lots and a large accumulation of sand in the
Sandyport canal.

AERIAL photos fro








PHOTOS of Delaporte Beach erosion/Sandyport dredging

- taken by residents of Delaporte Point



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PAGE 6, WEDNESDAY, APRIL 2, 2008

THE TRIBUNE



© In brief

NASA says that
thousands

could lose jobs
after the shuttle
programme ends

@ MIAMI

MORE than 8,000 NASA
contractor jobs in the nation’s ;
manned space programme :
could be eliminated after the ;
space shuttle is retired in 2010, :
the agency said Tuesday, :

according to Associated Press.

The number of civil servants :
is expected to remain roughly :
the same, but dramatic job :
cuts are possible among pri- :
vate contractors as NASA :
transitions to the Constella- :
tion program, which is devel- i
oping the next-generation }
vehicle and rockets to go to }

the moon and later to Mars.

Constellation isn’t sched- :
uled to begin flights until 2015. :

Bill Gerstenmaier, an asso- :
ciate administrator for the :
space agency, cautioned that :
the estimates of job losses :
were preliminary and don’t :
~ take into account numerous }
factors of potential workload. :
“Don’t overreact to these :

numbers,” he said.

But NASA also acknowl- :
edged job losses could fluctu- :
ate depending on who’s occu- :
pying the White House next }
year and their support for }

space exploration.

The bleakest forecast was :
issued for the flagship ;
Kennedy Space Center at :
Cape Canaveral, Fla., where :
just 1,600 to 2,300 employees :
were expected to remain in :
2011, a cut of up to 80 percent :
from its current 8,000 work- :

ers.

1,300 of its 1,900 jobs.

“Our greatest challenge :
over the next several years will :
be managing this extremely :
talented, experienced and geo- :
graphically dispersed work- :
force as we transition from :
operating the space shuttle to :
utilizing the International :
Space Station,” the report :

said.

employed.

The Michoud Assembly
Facility near New Orleans was :
forecast to lose as many as }

Nationally, NASA said the ;
number of full-time civil ser- :
vants in its manned space pro- :
gram would fall to about 4,100 :
in 2011, a loss of about 600 :
jobs from this year, Including :
outside contractors, the num- :
ber of jobs would fall to an :
estimated 12,500 to 13,800. :
About 21,000 are currently }

Pilot searches for wartime

A FORMER country vet with
a passion for flying has arrived in
the Bahamas to search for a small
wartime aircraft he was forced to
crash-land into the sea six weeks
ago.

The 1943 Piper Cub, once
reportedly used by the famous
American military chief, General
George Patten, went down
between the Dominican Republic
and Turks and Caicos in mid-Feb-
ruary.

British pilot Maurice Kirk had
no choice but to ditch the two-
seater when the engine stopped
during a solo flight around the
world.

“Miami control didn’t seem to
believe me when I told them I
was going down,” 63-year-old Mr
Kirk told The Tribune yesterday.

“I told them I had no engine
and that I was going to get my
feet wet.”

In fact, Mr Kirk ditched in
extremely deep water, then
scrambled clear before being res-
cued by the US Coast Guard. The
plane floated for two hours
before going under. “I was very
cold,” he said, “I want to buy
them (his rescuers) a beer.”

Mr Kirk is now back in Nas-
sau with another small aircraft
with the intention of scouring the
coastlines of Acklins and Inagua
in the hope of finding what’s left
of his beloved plane.

“T have taken expert advice
and studied the currents in the
area, and have concluded that the
plane is likely to wash up on one
of those two islands,” he said.

“T am not particularly confi-
dent of finding her, but I have to
give it a go. Iam very attached to
her.”

The US-built Liberty Girl, as
the plane is called, was used dur-
ing wartime to fly messages
between tank regiments and was
designed to land in ploughed
fields.

It was involved in wartime
action just after D-Day in 1944.

. Mr Kirk has owned the plane
for nearly 30 years and kept it in
a 600-foot long field in South
Wales.

He credits his survival on the
Piper Cub’s ability to fly and land
at very low speed. It cruises at
75mph “with a top speed of about
80,” he laughed.

“It is the most famous Ameri-
can aeroplane because it draws
nostalgia from TWA pilots and
the like, who all learned to fly in
them.

“They only went out of fash-

‘ion in the 1960s. But I have a

strong attachment to mine, and


‘ 5
ee eee 8

aircraft he had to crash-land

BRITISH PILOT Maurice Kirk is now back in Nassau with the intention of scouring the coastlines of Acklins and Inagua.

Lands and Local Government
staff take part in one-day
‘enrichment seminar’

if I don’t find her, Pll have a repli-
ca built.”

The former stunt pilot was on
his way from the Dominican
Republic to Providenciales in
Turks and Caicos when the
engine stopped.

“T was at about 4,500 feet and
just drifted down,” he said,
“Unfortunately, it, was in very
deep water and my hopes of find-
ing her are only 10 to 20 per
cent.”

The grey fuselage plane had
crashed before - in Japan - and
took part in the 2001 London-
Sydney Air Race before Mr Kirk
embarked on his solo adventure
round the globe.

Mr Kirk believes that, if he
finds the wreck over the next few
weeks, there is still time to save
the engine, though the wings are
likely to have snapped off in the
tides once the plane reached
shallow water.

His retrieval mission is fired by
memories of the old plane, which
he discovered in “moth-eaten and
dilapidated” condition in eastern
France in 1979,

“If I don’t find her, I'll drop a
wreath of flowers over the water,”
he said.

¢ Mr Kirk’s website describ-
ing his flying adventures is:
kirkflyingvet.com

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@ By LLONELLA GILBERT



SENIOR officers and staff
of the Ministry of Lands and
Local Government were treat-
ed to a staff enrichment semi-
nar at SuperClubs Breezes last
week.

The all-day event rounded
off the Ministry’s Awareness
Month 2008 activities.

Postal service, co-operative,
consumer welfare and the
mail boat service staff also
took part in the event.

Speakers at the event
included Acting Assistant
Commissioner of Police Hulan
Hanna, Archdeacon James
Palacious, Superintendent of
Police Stephen Dean and cer-
tified fitness instructor
Natasha Brown.

They spoke on issues such
as building bridges between
the police and the community,
ethics in the workplace and
health and fitness.

Minister of Lands and Local
Government Sidney Collie
encouraged the staff to use
the advice of the presenters
to help structure their lives.

“T expect that when you go
back to work,” Mr Collie said,
“TI will see the manifestation
of a lot of what you will be
engaged in today in your dai-



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more enthusiasm and a more
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The minister also expressed
his pride in the support the
activities planned around the
Awareness Month 2008
received from staff at the min-
istry.

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THE TRIBUNE

WEDNESDAY, APRIL 2, 2008, PAGE 7



LOCAL NEWS



Call for duty rates change for
environmentally friendly items

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

A GOVERNMENT com-
mittee has called on the Min-
istry of Finance to consider
changing duty rates on cer-
tain products to encourage
Bahamians to become more



environmentally friendly.
The Coastal Awareness
Committee wants the gov-
ernment to allow Bahamians
to import items such as ener-
gy saving light bulbs, “green”
or reusable shopping bags,
solar lights and other solar
powered devices duty free.
A reduction of duty on the

JUSTICE crusaders Greg and Tanya Cash

Greg and Tanya
Cash set for new
attempt at Privy
Council hearing

JUSTICE crusaders Greg
and Tanya Cash are poised to
launch a new attempt to get a
hearing before the Privy Coun-
cil.

After a box” containing
dozens of legal documents was
“Jost” on its way to London ear-
lier this year, the couple faced a
massive task in preparing their
case again.

Now all they need are two
dates from the Supreme Court,
and two documents to complete
their Privy Council file.

“We have faced obstacles all.

along the way, but we are deter-
mined to see this through to the
very end,” Mr and Mrs Cash

told The Tribune. “No-one is
going to stop us.”

The couple’s six-year battle
for justice against the Baptist
educational authorities has
included a series of setbacks
before Bahamian courts, includ-
ing mislaid documents and what
they regard as “deliberate
attempts” to block their
action. -

“People are afraid of what
these documents contain,” said
Mrs Cash, “that’s why they are
so scared of what might happen
at the Privy Council.”

The couple are fighting the
Baptists on several fronts since
Mr Cash was fired as coach at

importation of fuel efficient
vehicles and a tax increase
on vehicles and boat engines
that are less environmental-
ly-friendly in their consump-
tion of energy was also advo-
cated by the committee dur-
ing their. meeting with Min-
ister of State for Finance
Zhivargo Laing and his team



Jordan Prince William High
School in 2002.

They are. alleging unfair dis-
missal, defamation and breach
of human rights in what many
Bahamians now see as a cause
celebre — a fight not only against
the Baptists, but the Bahamas
court system.

Earlier this year, Mr and Mrs
Cash were left distraught when
their carefully assembled legal
papers went missing after being
sent by a courier service to Lon-
don.

The papers have never been
found, so the couple faced the
daunting task of assembling the
documents all over again.

yesterday morning.

Their call for government
action to support their
endeavours comes in the
wake of claims in the UN’s
2007/2008 Human Develop-
ment Report on_ the
Bahamas that this country
has a level of carbon emis-
sions per person “above”
those of other Caribbean and
Latin American countries.

The report said: “With 0.0
per cent of the world's pop-
ulation, Bahamas accounts
for 0.0 per cent of global
emissions — an average of
6.7 tonnes of CO2 per per-
son... If all countries in the
world were to emit CO2 at
levels similar to Bahamas’,
we would exceed our sus-
tainable carbon budget
by. approximately 201 per
cent.”

Mr Laing, noting that the
group's suggestions are time-
ly as the government is cur-
rently in the budget process
period, said that all of them
would be looked at, but
“require broad policy con-
sideration.”

He added however that he
believes there are certain
steps that can be taken by
government “almost imme-
diately” to help reduce car-
bon emissions such as
encouraging government
ministries to use energy effi-
cient bulbs.

“Those are things that can
be done. There’s no signifi-
cant cost to the government
to do so,” he said.

The Coastal Awareness
Committee is set to meet
with nine’ government min-
isters throughout the month
of April, along with other
agencies such as the office of
the attorney general and the
police, to make what Earl-
ston McPhee, the group's
chairman and Ministry of

reeset tec men
our dermatologist.

Tourism’s director of sus-
tainable tourism, called “spe-
cific requests” relating to
how their agencies can better
support environmental pro-
tection.

The group is made up of
private and public sector
stakeholders including rep-
resentatives from the Min-
istry of Tourism, the Min-
istry of Education and the
Bahamas National Trust,
alongside persons from Dol-
phin Encounters, Stuarts’
Cove, the College of the
Bahamas and the Bahamas
Hotel Corporation.

They aim te promote “the
protection and preservation
of our most precious nation-
al resources that support the
livelihood of our people and
long term sustainability of
our nation.”

Speaking after the. meet-
ing, Mr McPhee said that he
was “very pleased” with how
it went and felt Mr Laing was
receptive to the committee’s
aims.

He emphasised that for
more Bahamians to switch to
environmentally-friendly
behaviour would equate to a
“win/win situation” consid-
ering rising energy costs.

“Bahamians can save from
a higher electricity bill with
some of this energy saving
technology,” he said.

Action to reduce carbon
emissions — both within and
outside this country — is a
subject of particular rele-
vance to the Bahamas as a
vulnerable small island state.

The Bahamas is one of the
countries expected to suffer
most from the sea level rise
which studies show is already
coming about as a result of
global climdte change, and
is largely anticipated to wors-
en. 44

A World Bank research



Coastal rT
STRAT Ces

¢ Saturday April 5:
Harbour Clean Up

Takes places from 9am
to lpm. Certified divers
interested in volunteering
should call Stuart Cove’s
Dive Bahamas. Equip-
ment will be provided to
divers without their own.
Volunteers should meet
at Malcolm Park parking
lot on the western side of
the Paradise Island
entrance bridge on East
Bay street, next to the
defence force building.



¢ Tuesday, April 8:
Lecture at College of
the Bahamas

Entitled “Threats to
coastal communities -
how vulnerable is the
Bahamas?” All are invit-
ed to attend.

e Saturday, April 12:
Yamacraw Beach
Clean-Up

This will take place
between 8am and 12pm.
All volunteers can check
in between the clean-up
hours. Tu volunteer call
Jared Dillet at 393-1014.

¢ Monday April 21
to Friday April 25:
Educational marine
exhibition at the Mall at
Marathon.

Anyone wishing to
enter the national photo
essay competition can
find out more information
at www.breef.org. The
prize is a trip to an envi-
ronmental summer camp -
in the British Virgin
Islands.



paper released in 2007
showed that out of 84 devel-
oping countries, this nation
would be the most severely
impacted in terms of land
area, with 11 per cent of the
country predicted to flood as
a result of a one metre sea
level rise.

It said 60 per cent of the
country would disappear
should a three to five metre
rise occur.

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PAGE 8, WEDNESDAY, APRIL 2, 2008

THE TRIBUNE



LOCAL NEWS

Investigation into new WANE ATC colesntucenier
an ‘administrative oversight’

case of tuberculosis

A REPORT of a new case of tuberculosis is
currently under investigation, the Ministry of
Health and Social Development confirmed yes-
terday.

In a late press release the ministry said that
screening of family members and co-workers of
the person reported to have caught the potentially
deadly disease is underway.

“Should new cases be identified through the
screening process necessary actions will be taken
immediately to treat and prevent the spread of the
disease,” said a statement..

While TB infection has no obvious signs or

symptoms, symptoms of TB disease include a ;
cough that lasts longer than two to three weeks :

and does not get better with medication.

chills.

the incidence of TB in the Bahamas.

” FROM page one

Creek with their gated com-
munity — despite assurances
that no further destruction
would be done to the area.

Mr McKenzie said that the
group will be launching a cam-
paign against the South Seas
Development Company and
those individuals guilty of ille-
gal dumping in Millars Creek
today.

However, Mr Wells claims
that the development, which
is located in the southern part
ot New Providence near the

South Seas developer

moves to assure public

: ety is greatly influenced by public

was some issue regarding the confidence that no-one is above
flow of water in the proposed : —™* °" Pee cae i
channel that is being installed, | “"°° for whoever does wrong.
Mr Wells said that a planned }
island — in the middle of the ;
channel — has been removed ! the Chairmanship of the Airport
to allow for better water flow; :
meeting the requirements of a }
BEST Commission “flush” }

with all of the relevant require-
ments of the BEST Commis-
sion and the Ministry of
Works.

AS for the claims of wetland
destruction, Mr Wells con-
tended that of the 93-acre
development, almost 18 acres
of wetland have remained
untouched, and will remain
untouched in perpetuity. —

While admitting that there

analysis.

FROM page one

Other symptoms also include coughing up : based on on outlined by his
: ener . . : $ og . sy
blood, loss of appetite, unexplained weight loss, | 80VeTâ„¢mmen".

fever, tiredness or weakness, night sweats and :

And finally, he “alleged a dere-
liction of duty for failing to act

Last week, Health Minister Dr Hubert Minnis es the i easel a aaa
announced that the government had extended : Dene ae ae ae
the provision of free anti-retroviral drugs to } P : ee

include persons affected with tuberculosis as well Minister’s defence of Mr Laing

as HIV as part of a strategy to further reduce having done “nothing wrong” as

: both “serious and amazing.

Mr Smith also called the Prime

_ “I will say more about this at

another time, but in the interim
: list the following as reasons why it
: would be in the public’s interest

for Mr Laing to resign from Cab-
inet: (Firstly) the overall mainte-
nance of law and order in soci-

the law; that there is ‘zero toler-

He recalled that Mr Brent
Symonette (Deputy Prime Min-
ister) was made to resign from

Authority for just one of the three
transgressions made by Minister
Laing. More recently the Member

: " : of Parliament for Kennedy and
‘It was finally agreed that :
the plans met with all commit- :

Keod Smith, the then Member of

Parliament for Mount Moriah
were made to resign as Chairman
of the Gaming Board and
Ambassador for the Environ-
ment, respectively, for being
involved in a fight.” Mr Smith
claimed that this was another
transgression that was “less severe
than the three transgressions of
the Minister.”

“Additionally,” he said, “a for-
mer Minister of Immigration was
forced to resign, essentially for
what was perceived as inappro-
priate conduct. This Minister
must not be treated differently
simply because he is perceived to
be a special favourite of the Prime
Minister.

“There is no creditable defence
for the minister,” he claimed,
“especially against the backdrop
of the most recent General Elec-
tions with pledges from his party
about lifting, not just maintain-
ing public standards; about
accountability and transparency;
about closing the ‘cookie jar’ and
generally about ‘trust in Govern-
ment,’” Mr Smith said.

The MP suggested that if Mr
Laing were to continue on in his
post as Minister of State for
Finance he would “shatter” the



government’s “Trust Agenda”
that they ran on in the General
Election.

“Minister Laing’s immediate
predecessors in office were James
Smith and Sir William Allen. Par-
tisan political affiliations aside,
most Bahamians would agree that
each of these gentlemen assumed
the role in the Ministry of Finance
having already earned a wide and
deep respect within the business
community at home and abroad.

“Without in any way being dis-
respectful of Mr Laing, the record
would suggest that he did not
begin his tenure with a compara-
ble degree of stature. It was his
challenge to earn it. His conduct
in this Mona Vie scandal, so ear-
ly in his tenure greatly under- |
mines his potential to achieve
that. And without it his effective-
ness as Minister will be crippled.
It is also relevant that this comes
at a time when the country’s
economy is itself seriously chal-
lenged by an obvious slow down
— circumstances which require a
minister not distracted by the
need to clear or defend his per-
sonal reputation,” the release
said.

Bacardi plant, is in keeping

Police

FROM page one

said.

weapon in a safe, ASP Ferguson said.
ground checks.
Division said.

ing Office: 10,375 of them are licensed.

licence applications received.



on Thompson Boulevard.

reveal
gun statistics

Handgun licences for personal protection are privy to Cabi-
net approval and are subject to stricter application rules.
Licensed firearm holders are required by law to enclose their

Applicants must be Bahamian citizens and the approval
process takes six to eight weeks because of necessary back-

Persons with criminal backgrounds may be considered for
approval depending on the nature of the prior offence and the
outcome of a personal interview, Sgt Major of the Firearms

There are 14,608 firearms recorded at the Firearms Licens-

Last year, the department approved 657 of the 1,125 firearm

Gun licences can be renewed at the Criminal Records Office

ments. So far as this committee :
is concerned, this guy did :
speak to us and he asked us :
for fill. There is a road to the :
north of the creek that they :
wanted to put fill in so they }
can pass on and they asked us :
for the fill. We agreed to give :
them the fill when we cut the :
channel because when they :
came to us we didn’t have any; :
and we will still give them the :
: tration and external affairs Robert Sands also

“And we also agreed to pro- :
vide for the fencing along the :
northern shore of the creek to :
stop people from going to :
dump in the creek and will :
continue to do that as well,” :

fill.

he said.

none.

The development



ging trails, and a marina.



When the South Sea devel- :
opment is completed, Mr :
Wells said the gated commu- :
nity will be one of the best sub- :
divisions in the island — bar :

will :
include, he said, a yacht club, :
, three beaches, Millars Creek, :
nature trails through the 15 :
plus acres of mangroves, jog- :

FROM page one

of public relations Ed Fields told The Tribune
that with respect to shorter work weeks, Atlantis’
industrial agreement has always allowed for
adjustments to be made with respect to occu-
pancy levels. ~

“And this has not occurred to any significantly
greater degree than it has in previous years,” Mr
Fields said.

Baha Mar’s senior vice-president for adminis-

said that while shorter work weeks are “absolute-
ly” a possibility later in the year, so far there
have been no out-of-the-ordinary reductions in
the work weeks of employees.

Mr Sands added that, as is the practice, “staffing
will meet the business demands.”

However, neither the Baha Mar or Atlantis
executives commented on how short hotel
employees’ work weeks could actually become if
the Bahamas’ tourism industry were to be hit by
stronger repercussions of America’s economic
problems later this year.

As it concerns lay-offs, Mr Sands said that he is
unaware of any having being ordered at the Baha
Mar Resorts.

At Atlantis, Mr Fields said, some restructuring
has taken place involving 20 persons in various

FROM page one

administrative positions.

“Of those 20 positions, 11 persons were offered
alternate positions in the organisation. Nine per-
sons have accepted those alternate positions,”
he said.

Mr Fields said that this exercise was one of sev-
eral efforts by Atlantis to make the organisation
more efficient.

“While we do not immediately anticipate addi-
tional activity of this nature, as in the case of
every business, we will continue to evaluate the
economic conditions within which we operate,
and react as necessary,” he said.

Mr Fields said that chairman and CEO of
Kerzner International Sol Kerzner recently met
with Atlantis executives to discuss the organisa-
tion’s preparedness in the face of the US’ dire
financial situation.

“He stressed that economic conditions in the
US have a direct financial impact on, not only
Atlantis, but the whole country and he encour-
aged all staff to continue to provide the highest
levels of

service to the tourists who are coming to
Atlantis, as this will be what gives us edge over
our competitor destinations,” Mr Fields said.

him to the end of the Square

PRESS STATEMENT

The Junkanoo Corporation New Providence Limited

off.

: and in the tussle that followed

between him and the officers,
his clothing started to come

The two officers eventually

: called for assistance on their

radios, and in a few minutes
another officer joined them.
But, the three of them were

: still,unable to subdue the man

who at this time was bare-

: backed, and pulling away

from the officers who held on

: to him by his pants.

A fourth officer then came

Naked man

him by his arms and legs, but
the man continued to kick in
resistance. At this point his
pants came off and he was
completely naked in Rawson
Square. Police attempted to
lift him to the station several
times, from this point but
were unable to do so as he
kept kicking and resisting.

“Police brutality,” was all
that was heard coming from
the man.

Officers instead, dragged

into the parking lot reserved
for Senior Justice Anita
Allen in Bank Lane. From
here, the man was lifted a
short distance before being
dragged naked down the road
in front of the courts, as
police at the Central Station
and people at the Old
Supreme Court building,
watched in amazement.

The man was lifted the last
few feet into the station by
several officers where he
remained up to press time last
night, according to police.

will host a JUNKA

OO CONCLAVE in the St. John’s

College Auditorium from Thursday, April 10, 2008
through Saturday, April 12, 2008 under the theme:

A dialogue to foster a closer relationship between
all stakeholders involved in Junkanoo on the
island of New Providence.

Dates:
1. Thursday, April 10, 2008 from
6:00 p.m. — pee
O

m. F
THE

EE OPENED SESSIONS
PUBLIC

A Town Hall Meeting will be held on the opening night
Thursday, April 10, 2008 at 6:30 p.m. and all Junk-
anooers, Sponsors, Supporters and the General Public

_ are invited to attend. It will be aired LIVE on ZNS
Radio Bahamas, 104.5 FM and recorded for later Tele-
vision viewing on the various media network stations.

2 Friday, April 11, 2008 from 6:00

.m. — 10:00 p.m.

CLOSED SESSIONS FOR DELEGATES ONLY

3. Saturda
PAID S

: ton 12, 2008 from 8:30 a.m. — 5:00 p.m.
SSIONS FOR DELEGATES AND TE

PUBLIC

Attendees:
10 delegates per group A and B Division Groups at
$50 per person

10 delegates from the

Division, Individual

ssociation at $50 per person

All other attendees:
i. Thursday open to all Junkanooers and the Public
ii. Saturday $30 for the day session, open to all
Junkanooers and the Public

We look forward to seeing you there!



: Station as the crowd of
: onlookers increased.

i tackled the man. And after a
: wrestling match between him,
: the man and the other police

: down and held him as other
: officers attempted to hand-
: cuff him. However, they were

: on top of him trying to sub-
: due him. Some 10 to 12 offi-
: cers were now all at once try-
: ing to take the vagrant into
: custody.

cooperate after all this effort.
: tral station.

: several officers decided to lift

: running to assist from the

direction of Central Police

The fourth officer then
officers, one officer took him

unable to accomplish the task.

As the man increased his
resistance, more officers
arrived on the scene as he lay
in Bay Street with policemen

After a few minutes, they
finally were able to handcuff
the man. But he still did not
He would not walk to Cen-

Since he would not walk,

FROM page one

resident of the High Rock constituency, rejected
the suggestion that he was aided by anyone in the

: gallery. He said that he merely looked down as he
: was thinking about and delivering the name.

The witness, who said that he has known Ms
Bridgewater since 1987, was her campaign man-
ager in 1992 when she ran unsuccessfully for the
High Rock constituency. He also held the same
post with her campaign in 2002, when she ran
for Marco City. In the last election, he was a spe-

: cial coordinator for Ms Bridgewater.

Mr Moss testified about his knowledge of the

: whereabouts of more than five challenged voters

yesterday, and he was one of four witnesses who
testified for Mr Davis at the session.

Hilton Bowleg, a resident of Bootle Bay, West
End for more than 40 years told the court that his
neighbour Ida Lee Pratt, whose vote has been

: challenged by Ms Bridgewater, has lived in Boo-

tle Bay for eight to 10 years. She was forced to
move out, he said, after Hurricane Wilma in 2005.

Mr Bowleg said that he noticed movement and
light again at the home in mid-2006, however,
he acknowledged that he never visited the house

i which he said is 800 feet away from his residence.

Burnt corpse

FROM page one

scene. However he was not apprehended.

In another turn in the investigation, police found the dead body
of a man — believed to be a Haitian national — around 6 pm
Monday near the seashore with burn marks about the body, ASP
Evans said yesterday.

At a press briefing at the Criminal Records office, ASP Evans
said police were questioning a female Haitian in connection with the
two matters. He added that preliminary information led police to
conclude the house fire and subsequent death stemmed from a
domestic incident.

“We believe that this incident, which started on Saturday and
ended (Monday) is domestic related, however once the investiga-
tion is completed we will be able to shed more light on that.”

Although he has not been identified by police, sources on the
island said the deceased is known as “Levi’
er and part-time sanitation worker who reportedly shared a home
with a female companion.

The body was flown to Nassau for an autopsy to determine the
cause of death, ASP Evans said.

“He may have been in that fire, we can’t say if he burned himself
or someone else did it. It’s too early for us to say that.”

*,a construction work-

Visitors warned

The witness also told the court that he sold the
property Ms Pratt lives on to her.

Mr Bowleg testified that he could not say how
often she was there from this period, but he said
he saw her green car at the home from this peri-
od at times when he went to work in the morn-
ings.

Anthony Forbes also testified on the where-
abouts of Javaughn Lowe, who is being chal-
lenged by Ms Bridgewater along with his father
Charles Lowe. Mr Forbes, who lives at 143 Oates
Lane, which is in the Pineridge constituency, said
that Mr Lowe lived on the street next to him, on
Fawcett Lane, during the relevant six month peri-
od before the election.

In the area Known as ‘The Park, Mr Forbes
said that during the period he would see Mr Lowe
two or three times a week, as men in the neigh-
bourhood hung out in the area in front of his
house before and after work.

He said that he would see Mr Lowe at his res-
idence in Pineridge in the mornings.brushing his
teeth and washing his face outside before they
hung-out.



THE TRIBUNE

WEDNESDAY, APRIL 2, 2008, PAGE 9



© In brief

up to buy DVD
players,
motorbikes
as govi eases
consumer
sales han

@ HAVANA

CUBAN shoppers are
snapping up DVD players,
motorbikes and electric rice
cookers that are going on sale
to the general public for the
first time, according to Asso-
ciated Press.

Lines stretch out the doors
of major government depart-
ment stores as Cubans gaze
at the new gadgets on display.

The goods that went on
sale Tuesday previously were
available only to foreigners.
But the government of new
President Raul Castro has lift-
ed that ban.

There was no sign yet of
two highly anticipated items:
computers and microwaves,
though salespeople said com-
puters would soon hit the
shelves.

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

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



US official: Security issues in the
Caribbean — we want to help

m@ By Ambassador
Thomas Shannon,
Assistant Secretary
of State for Western
Hemisphere Affairs
and Admiral James
Stavridis, US Navy,
Commander, US
Southern Command

W E RECENTLY

completed a trip
to three CARICOM
nations — Guyana, Barba-
dos, and Suriname. It was
our first opportunity to
travel together, and by
combining our visits, we
were able to interact direct-
ly with the heads of gov-
ernment of each nation, as
well as the ministers of
defence and foreign affairs.
We were also able to under-
line the extraordinary level
of interagency co-operation
between our two depart-

: ‘ments in the Americas.

the Bahamas, Barbados,
and Belize.

In each nation visited, we
received a warm welcome
both in formal conversa-
tions with our interlocutors
and informally from the
friendly people of three
vibrant and diverse democ-
racies.

In each of our stops, we
found a confluence of views
about the security chal-
lenges throughout the south
and eastern Caribbean.

Each of these probably
applies throughout the
CARICOM community and
is worth mentioning as the
leaders of the region gather
April 4:5 for a high level



“Each of our embassies in the
region and all of US Southern
Command are ready and
willing to engage in any way
to discuss issues and craft
solutions to security
challenges in the region.”



In addition to reinforcing
the continuing importance
of the region to the United
States, our joint visit was a
direct follow-up to the
June, 2007, Conference on
the Caribbean, hosted by
President Bush and Secre-
tary Rice in Washington,
DC, and President Bush’s
recent high-level dialogue
with the prime ministers of

discussion of broad security
issues facing the Caribbean
community:

@ Crime and related

violence

In addition to street
crime, the emergence of
gangs and organised crime
is of serious concern to gov-
ernments intent on protect-
ing their citizens and creat-

SAINT AUGUSTINE’S COLLEGE

invites you to keep your Big Red Machine connections strong



’ Asa graduate of St. Augustine’s College you are our most important asset
and our greatest strength. We encourage you to stay connected with the
College, other Alumni and current students. Increase your involvement
with the SAC community by joining the Alumni Association and finding
out what is happening with the academics and facilities development of

the school.

We invite you to enjoy the supplement of the celebrations of 2007
- 2008 included in today’s newspaper and to update your contact
information with us by completing the form below and fax (364-1265)



ing a safe environment for
the economically vital
tourist industry.

H@ Movement of illegal

weapons

The flow of small arms
and ammunition continues
to plague the region, many
of them coming from the
United States. This fuels
criminal violence and pre-
sents a unique threat to
police and other law
enforcement personnel.

@ Deportees

In the islands of the
Caribbean, there is signifi-
cant and legitimate concern
about the deportation to
their native countries of
Caribbean citizens who
commit crimes in the Unit-
ed States. Specifically, our
interlocutors wanted more
information on the criminal
records and backgrounds of
those being deported, and
help in reintegrating these
people into the societies of
their home countries.

@ Narcotics trafficking
The presence of drug
dealers, moving through
difficult-to-control sea and
air space, is of deep con-
cern. In addition to the
effects of the drugs them-
selves on young popula-
tions, there is the potential
and actual corruption of
police forces and judiciary.

@ Money Laundering
Often related to crime

and drug issues, this prob-

lem has the potential to cor-

rupt the financial systems
as well as providing the
“fuel” for corruption.

@ Natural and ecological

disasters

Caribbean societies and
economies are especially
vulnerable to hurricanes
and other natural disasters.
Building CARICOM capac-
ity to anticipate and
respond to such disasters is
a major security concern.
Also, as global awareness
of the potential damage to
the environment from ille-
gal logging, mining, pollu-
tion, reef decay, and other
forms of eco-destruction
rises, nations of this region
are exploring security solu-
tions.

@ Pandemics and other

health risks

The impact of HIV-
AIDS, malaria, diabetes,
and other diseases can have
a devastating impact on the
small, cohesive societies of
the Caribbean. Managing or
eradicating these diseases
is understood as key to
national security and eco-
nomic vitality.

Fortunately, the nations

of the Caribbean have well- ,

developed structures in
place, beginning with
CARICOM, to discuss
these threats and fashion
regional strategies to
address them.

Additionally, the impres-
sive Regional Security Sys-
tem of the eastern
Caribbean is a mature enti-
ty with real operational suc-
cesses and impressive capa-
bility.

In our meetings with top
officials there, it is clear
these regional organisations
are cognizant of the con-
cerns and moving rapidly to
seek solutions. The recent



superb work by all the
nations of the region and
the organisations in,
producing a successful
Cricket World Cup was
noteworthy. :

We in the United States
want to be helpful in any
way that is sensible and
effective for the nations of
the region.

There are a wide variety
of mechanisms available,
from intelligence and infor-
mation sharing, to mutually
beneficial exchanges of
trainers, to transfers
of equipment and technolo-
gy.
Our message in Guyana,
Barbados, and Suriname is
really a message for the
entire region — the United
States is a caring friend and
partner, and we genuinely
welcome the opportunity to
discuss ways we can be
helpful in addressing
regional security con-
cerns.

Each of our embassies in
the region and all of US
Southern Command are
ready and willing to engage
in any way to discuss issues
and craft solutions to secu-
rity challenges in the
region.

We eagerly await the out-
come of Caribbean leader-
ship discussions about the
security challenges, and
pledge to work with indi-
vidual countries and region-
al organisations.

The Caribbean is not
“America’s back yard,” an
expression that is wrong in
every dimension.

Rather than anyone’s
back yard, the Americas are
a home we share together;
and in our home, we must
all work together to help
each other face the security
challenges of this turbulent
but ultimately promising
21st century.

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PAGE 10, WEDNESDAY, APRIL 2, 2008

THE TRIBUNE



INTERNATIONAL NEWS

_ THE DIANA INQUEST

Coroner: Butler, photographer
lied about Princess Diana but
neither holds key to her death













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Matt Dunham/AP Photo



SS
SN

LADY SARAH MCCORQUODALE, the older sister of the late
Princess Diana, leaves the High Court in London, at the start of
a lunch break, as the summation into the inquest of the death of
Princess Diana and her boyfriend Dodi Fayed begins, Monday,
March 31, 2008. A coroner on Monday discounted entirely the
conspiracy theory, pursued for more than a decade by Mohamed
Al Fayed, that Princess Diana was murdered in a secret service
plot at the behest of Britain's royal family.

of Britain's royal family.
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m@ By ROBERT BARR
LONDON

Both Princess Diana’s butler
and a photographer accused
of helping to stage the car
crash that killed her lied —
but neither is key to discov-
ering how she and boyfriend
Dodi Fayed died, a coroner
said yesterday.

Lord Justice Scott Baker,
summing up for a second day
after a six-month inquest into
their deaths, said it was “blind-
ingly obvious” that butler Paul
Burrell — more concerned
with exploiting his connection
to Diana — “hadn't told the
truth, the whole truth and
nothing but the truth” during
three days of testimony.

Baker also said there was
strong evidence that James
Andanson, a paparazzi pho-
tographer who claimed he had
been in Paris trailing Diana
the night of the crash, had lied
about his whereabouts that
night. Andanson has since
died.

Diana, Fayed and driver
Henri Paul died in a Paris car
accident in August 1997 while
trailed by photographers — a
crash Fayed’s _ father,
Mohamed AI Fayed, claims
was part of a plot directed by
Queen Elizabeth II’s husband,



MOHAMED AL FAYED, the father of Dodi Fayed, leaves the High Court in London, at the start of a lunch break, as the summ
of the death of Princess Diana and her boyfriend Dodi Fayed begins, Monday, March 31, 2008. A coroner on Monday discounted entirely the con-
spiracy theory, pursued for more than a decade by Mohamed Al Fayed, that Princ

Prince Philip, and carried out
by British secret agents.

Fayed had accused Andan-
son of being a secret agent
who helped set up the acci-
dent.

However, Baker told jurors
on Monday that there is no
shred of evidence to implicate
the queen’s husband, the
secret intelligence service or
any other government agency
in their deaths.

Andanson- apparently
became identified as a suspect
because he was a paparazzi
photographer and owned a
white Fiat Uno — the same
type of car that sideswiped the
Mercedes carrying Diana and
Fayed in or near the Alma
tunnel before their fatal crash.

French police were never
able to locate the white Fiat.

Baker said Burrell’s testi-
mony appeared to be based
in part on prospects for
exploiting his connection with
the princess. Burrell testified
that some three months after
the crash, the queen warned
him to be careful because
there were unidentified forces
at work in the country.

Burrell said he thought the
queen’s meaning was unclear,
but took it simply as a friend-
ly warning. Upon returning to
the United States after his tes-



Matt Dunham/AP Photo



ation into the inquest

ess Diana was murdered in a secret service plot at the behest

timony, Burrell was captured
on camera boasting that he
hadn’t told whole truth and
planted some red herrings in
his testimony. He refused to
return to explain himself to
the inquest.

“Al in all, you may think
Burrell behaved pretty shab-
by,” Baker said.

“But beyond the extent to
which it reflects on his hon-
esty on whether other matters
are true, you may think it has
no impact on the means by
which these people came to
their deaths.”

Baker later took the jury
through a number of the wit-
ness accounts from the vicini-
ty of the crash scene and not-
ed that there were inconsis-
tencies among them over
whether they saw flashing
lights, pursuing motorcycles
or other cars near the couple’s
Mercedes.

The coroner said one prob-
lem is the fallibility of memo-
ry more than a decade on, and
another is that some people
plainly invented their stories.

One such, he said, was Fran-
cois Levistre, who claimed to
have found bullet casings and
other physical evidence, a day
after actually witnessing the
crash, but never handed over
any evidence to authorities.











Ny s SYN x





Akira Suemori/AP Photo

: WS \









SSS

THE ROYAL COURTS OF JUSTICE in London, where the inquest into the death of Princess Diana is taking place,
is seen in this Monday, October 1, 2007 file photo. Testimony has ranged far and wide in an extraordinary coro-
ner’s inquest, without shedding much light on claims that they were victims of a plot directed by Prince Philip.
The coroner, Lord Justice Scott Baker, is expected to begin his summation Monday, March 31, 2008, which may
take several days before it goes to the jury.



THE TRIBUNE

WEDNESDAY, APRIL 2, 2008, PAGE 11



INTERNATIONAL NEWS

DALAI LAMA BRANDED ‘WOLF IN MONK’S ROBES’; HIS FOLLOWERS LABELLED ‘SCUM OF BUDDHISM’

China accuses Tibet independence

groups of

rs

@ By AUDRA ANG
BEIJING

China has branded the Dalai
Lama a “wolf in monk’s robes”
and his followers the “scum of
Buddhism.” It stepped up the
rhetoric yesterday, accusing the
Nobel Peace laureate and his sup-
porters of planning suicide
attacks, according to the Associ-
ated Press.

The Tibetan government-in-
exile swiftly denied the charge,
and the Bush administration
tushed to the Tibetan Buddhist
leader’s defense, calling him “a
man of peace.”

“There is absolutely no indica-
tion that he wants to do anything
other than have a dialogue with
China on how to discuss the seri-
- Ous issues there,” State Depart-
ment spokesman Tom Casey said.

Wu Heping, spokesman for
China’s Ministry of Public Secu-
rity, claimed searches of monas-
teries in the Tibetan capital had
turned up a large cache of

aN



weapons. They included 176 guns,
13,013 bullets, 7,725 pounds of
explosives, 19,000 sticks of dyna-
mite and 350 knives, he said.
“To our knowledge, the next
plan of the Tibetan independence
forces is to organize suicide
squads to launch violent attacks,”
Wu told a news conference.
“They claimed that they fear nei-
ther bloodshed nor sacrifice.”

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Wu provided no details or evi-
dence. He used the term “gan si
dui,” a rarely used phrase direct-
ly translated as “dare-to-die
corps.” The official English ver-
sion of his remarks translated the
‘term as “suicide squads.”

Wu said police had arrested an
individual who he claimed was an
operative of the “Dalai Lama
clique,” responsible for gathering
intelligence and distributing pam-
phlets calling for an uprising.

The suspect admitted to using
code words to communicate with
his contacts, including “uncle” for
the Dalai Lama and “skirts” for
the banned Tibetan snow lion
flag, Wu said.

Beijing has repeatedly accused
the Dalai Lama and his support-
ers of orchestrating violence in
Lhasa, the Tibetan capital.
Protests which began peacefully
there on the March 10 anniver-
sary of a 1959 uprising against
Chinese rule spiraled out of con-
trol four days later.

Chinese officials have put the

rs

Sal

March 28th -April 2nd, 2008 ©

*“ Except on red tagged and net items

death toll at 22, most of them Han
Chinese; the government-in-exile
says 140 Tibetans were killed.

China also says sympathy
protests that spread to surround-
ing provinces are part of a cam-
paign by the Dalai Lama to sab-
otage the Beijing Olympics and
promote Tibetan independence.

The 72-year-old Dalai Lama
has condemned the violence and
denied any links to it, urging an
independent international inquiry
into the unrest.

“Tibetan exiles are 100 percent
committed to nonviolence. There
is no question of suicide attacks,”
Samdhong Rinpoche, prime min-
ister of the government-in-exile
in Dharmsala, India, said Tues-
day. “But we fear that Chinese
might masquerade as Tibetans
and plan such attacks to give bad
publicity to Tibetans.”

Experts on terrorism and secu-
rity risks facing Beijing and the
Olympics have not cited any
Tibet group as a threat.

Scholars said the claim of sui-



cide squads was a calculated
move by China allowing it to step
up its crackdown in Tibetan areas.

“There is no evidence of sup-
port for any kind of violence
against China or Chinese,” said
Dibyesh Anand, a Tibet expert
at Westminster University in Lon-
don.

Instead, Beijing is “portraying
to the rest of China and the rest
of the world: these people are
basically irrational” and that there
was no room for compromise, he
said.

Tuesday’s accusations could
also further divide the Tibetan
government-in-exile and other
groups like the Tibetan Youth
Congress, which has challenged

the Dalai Lama’s policy of non-

violence, Anand said.

“This is a way of pressuring the
Dalai Lama to renounce Tibetans
who have created violence,” he
said.

Andrew Fischer, a fellow at' the
London School of Economics
who researches Chinese develop-

planning ‘suicide squads’

Saurabh Das/AP Photo

ment policies in Tibetan areas of
China, dismissed Wu’s warnings
as “completely ridiculous.”
What China is trying to do “is
justify this massive troop deploy-
ment, a massive crackdown on
Tibetan areas and they’re trying
to justify intensification of hard-
line policies,” Fischer said.
Drawing from a deep historical
reserve of angry rhetoric, Tibet’s

’ tough-talking Chinese Commu-

nist Party boss, Zhang Qingli,
recently called the Dalai Lama a
“wolf in monk’s robes, a devil
with a human face, but the heart
of a beast” and deemed the cur-
rent conflict a “life-and-death bat-
tle.” State media has denounced
protesting monks as the “scum of
Buddhism.”

The campaign against the Dalai
Lama has been underscored in
recent days with showings of
decades-old propaganda films on
state television portraying Tibetan
society as cruel and primitive
before the 1950 invasion by com-
munist troops.

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PAGE 12, WEDNESDAY, APRIL 2, 2008 THE TRIBUNE



INTERNATIONAL NEWS

ZIMBABWE PRESIDENT IS REPORTEDLY WARNED OF UPRISING IF HE IS DECLARED THE WINNER

Mugabe aides in talks
with the opposition
about ceding power





Tsvangirayi Mukwazhi/AP Photo

-MORGAN TSVANGIRAI, leader of the main opposition party in Zim-
babwe addresses a press conference in Harare, Tuesday, April 1,
2008. Tsvangirai said that according to the results they collected
throughout the country he had won the presidency and was waiting
for the confirmation from the Zimbabwe Electoral Commission.

i By ANGUS SHAW
HARARE, Zimbabwe

Advisers of President Robert
Mugabe and his chief rival are
discussing the possibility of
Zimbabwe’s longtime leader
relinquishing power, a busi-
nessman close to the electoral
commission and a lawyer close
to the opposition told The
Associated Press on Tuesday.

The businessman said
Mugabe has been told he is far
behind Morgan Tsvangirai in
preliminary results of Saturday’s
presidential elections and that
there could be an uprising if
Mugabe were declared the win-
ner. The lawyer said advisers to
both men were discussing a
“transitional arrangement.”

Both spoke on condition of
anonymity because of the sen-
sitivity of the issue.

The secretary-general of
Tsvangirai’s party, Tendai Biti,
dismissed the reports, saying
“It’s rubbish” before hanging
up. However, Martin Rupiya, a
military analyst at South
Africa’s Institute for Strategic
Studies and a former lieutenant-
colonel in the Zimbabwe army,
said he had heard of the mili-
tary’s involvement in negotia-
tions for Mugabe to step down.

The election outcome “has
compelled the military, the
hawkish wing and the other
moderate, to begin to reconsid-
er accommodating the opposi-
tion,” he said. “Because of the
nature of the wins they have
been forced to reassess.”

Independent observers say
trends indicate Tsvangirai won
the most votes in the presiden-
tial race, but not enough to







sates 6 eS et:
oe on cee West ot. Boas



avoid a runoff — a prospect
that could be humiliating to the
84-year-old president.

No returns from the presi-
dential vote have been made
public, fueling fears of rigging.
Mugabe has been accused of
stealing past elections, though
that was before Zimbabwe’s
economy collapsed and leading
members of his own party open-
ly defied him.

The businessman said Zim-
babwe’s security chiefs have
told the Electoral Commission
to issue results portraying a
close race, to prevent celebra-
tions that could ignite violence.

The commission has released
results for 142 of the 210 par-
liamentary seats — giving
Tsvangirai’s Movement for
Democratic Change 72 seats,
including five for a breakaway
faction, and 70 for Mugabe’s
party. John Makumbe, a politi-
cal scientist at the University of
Zimbabwe, said he had learned
from military sources that they
would honor the results of the
elections. The security chiefs
last week warned they would
not serve anybody but Mugabe
and would not tolerate an oppo-
sition victory.

Tsvangirai on Tuesday post-
poned his first public statement
since the elections until later in
the day. His spokesman George
Shibotshiwe said that was
because the opposition party
had received “a tremendous
breakthrough in the numbers
coming in” from the elections.

The opposition already has
claimed victory in the elections
based on results posted outside
polling stations, including in sev-
eral rural strongholds of

a te Pelee fel

Pa freee SC bak

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Mugabe. The initiative to dis-
play the results on voting sta-
tion doors was part of an agree-
ment between the parties nego-
tiated by South African Presi-
dent Thabo Mbeki, and could
make it more difficult to cheat.

The European Union said it
wants Mugabe to step down to
spare his nation political tur-
moil. “If Mr. Mugabe contin-
ues, there will be a coup d’e-
tat,” said Slovenian Foreign
Minister Dimitri Rupel, whose
country holds the EU presiden-
cy. He said he hoped Mugabe
“is on his way out.”

British Prime Minister Gor-
don Brown called for the imme-
diate release of election results.

“Results should be published
immediately and the elections
must be seen to be fair,” Brown
told reporters in London. “It’s
very important that the democ-
ratic rights of the Zimbabwe
people be respected and upheld
and recognized.”

The Netherlands hailed the
possibility of an opposition vic-
tory. “I get the impression that
the Zimbabweans have voted
for change and democratic
forces have the upper hand,”
said Dutch Foreign Minister
Maxime Verhagen. “Now, final-
ly, the people of Zimbabwe
have the prospect of a better
life.”

Tsvangirai has vowed not to
entertain an alliance with
Mugabe but has said previously
that he is ready to negotiate an
exit package for Zimbabwe's
ruler for 28 years. He also has
said that Mugabe should be
tried for human rights abuses,
possibly in an international
court.










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and vite you to celebrate with us







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results from weekend elections trickled in slowly, with opponents fearing supporters of longtime President Robert
Mugabe were rigging the count to keep one of Africa's most authoritarian regimes in power.

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@ By NEIL HARTNELL
Tribune Business Editor

he Bahamas

could experience

an almost $100

million increase

in the cost of
goods consumed in this nation
if Florida voters this November
approve the imposition of a
sales tax on all the state’s
exports, with a state commis-
sion having decided to increase
that tax from 6 per cent to 7
per cent.

Ryan Pinder, a Bahamian
and attorney with the Fort
Lauderdale-based law firm,
Becker & Poliakoff, said he
would be visiting this nation
on Friday to brief the Bahamas
Chamber of Commerce and
concerned Bahamian busi-
nesses on the situation, and
help develop a response.

Suggesting that the Cham-
ber and Bahamian business
community should link-up with
other Caribbean and Florida-
based business organisations
to lobby against any sales tax

exemption on exports, Mr Pin-_

TRIBUNE









Fy ;
DIONISIO D’AGUILAR

der said: “I have been speaking
with the Chamber and local
industries and companies
about where we are right now.
“It does appear as if it’s [the
sales tax exemption] going on
the ballot in November. For-
tunately, we have time to gear
up, figure out what to do, who
we can work with, and who
else is against this proposal.”

Redundancy payment
‘most misunderstood’
aspect of major Act

@ By NEIL HARTNELL
Tribune Business Editor

THE statutory redundancy
payments employers are
required to pay workers under
the Employment Act 2001 are
“the most fundamentally mis-
understood” part of that law, a
leading labour attorney told
The Tribune, as many believe
this is the maximum employees
are entitled to.

Obie Ferguson, who is also
president of the Trades Union
Congress (TUC), said this
belief had created “confusion”
among several attorneys and
employers, as they did not
understand that employees
could instead choose to pur-
sue a legal action under com-
mon law if they believed they
were entitled to “greater rights
or better benefits” than those





ae deat

Thompson Biv. Ph. 328-1164



due to them under the
Employment Act.

“That is the most funda-
mentally misunderstood aspect
of the Employment Act,” Mr
Ferguson said. A number of
employers and lawyers read it
literally, and that’s where the
confusion came in.”

Mr Ferguson pointed to Sec-
tion 4 of the Employment Act,
which stated that “nothing in
this Act shall be construed as
limiting or restricting..... “any
greater rights or better benefits
of any employee under any
law, contract of employment,
arrangement or custom”.

“If you look at Section 4, it
relates to the common law
rights to bring an action under
common law or statute. That’s

SEE page 4B



Mackey St. Ph. 393-5684
Bernard Road. Ph. 393-3463

pin



monn

WEDNESDAY,

Sea

APRIL 2

SECTION B « business@tribunemedia.net

$100m inflation threat





ROYAL FIDELITY

* Florida proposes to place 7% sales tax on Bahamas exports

* ‘Last thing’ Bahamian consumers and businesses need when
cost of living spiralling due to energy and food price rises

* Florida-based attorney to urge Chamber and business community
to forge Caribbean and state-side links to lobby against proposal

He added: “My initial
thought was to have a coali-
tion to campaign against this
proposal. I know we have a lot
of Florida corporations and
businesses against this propos-
al, as a higher sales tax is going
to discourage people buying
from them.”

Mr Pinder said he wanted to
“discuss some preliminary
ideas” and “hear what they
have to say and what they’re
willing to participate in” when
he met with the Chamber and
other Bahamian businesses lat-
er this week.

“I’m going to advise them to
reach out to other chambers
in the region, explain the issues
and band together region-wide,
then take a look at Florida and

which groups have banded
together against this propos-
al,” he added.

Florida’s move to not only
repeal the export sales tax
exemption, but actually
increase it by one percentage
point, could not have come at a
worse time for the Bahamian
economy, its businesses and its
consumers.

This nation is already feel-
ing the effects of cost-push
inflation and increased living
costs, through rising energy,
gasoline and food costs. Any
increase in the costs of goods
coming from Florida, which is
the Bahamas’ main trading
partner, would further drive
inflation and skyrocketing liv-
ing costs.

Mr Pinder said it was esti-
mated that the Bahamas
imported $1.4 billion worth of
goods and merchandise from
Florida last year. Imposing a
7 per cent sales tax on that fig-
ure would increase the cost of
those imports by $98 million, a
significant added burden for
Bahamian consumers.

Mr Pinder said that while the
sales tax was likely to be
ifnposed on all goods manu-
factured in originating in Flori-
da, “if Florida is used purely
as a transhipment point they
shouldn’t be affected, as they
probably originate from a free
trade zone”.

SEE page 7B

Different versions emerge

over Port talks breakdown



@ By NEIL HARTNELL
Tribune Business Editor



SHARPLY different versions of the break-
down in the Grand Bahama Port Authority
(GBPA) ownership mediation talks emerged
yesterday, with sources close to Fleming Fami-
ly & Partners alleging that the late Edward St
George’s estate was seeking an unrealistic price,
and the latter said to instead by insisting that the
offer “kept going down”.

Sources familiar with the situation told. The
Tribune that the St George estate had instead
reached an agreement in principle to sell their
GBPA and Port Group Ltd stake, which the
Supreme Court has ruled to be 50 per cent, to
Hutchison Whampoa.

The Hong Kong-based conglomerate, which is
Port Group Ltd’s 50/50 joint venture partner
in the Freeport Harbour Company, Grand
Bahama Development Company and Grand

Bahama International Airport Company, has
also made no secret of its interest in buying out
both the St George estate and the remaining
50 per cent held by the Hayward family trust.

Yet contacts close to Fleming suggested that
the London-based private wealth management
and private equity firm viewed talk of a St
George sale to Hutchison Whampoa as merely
a negotiating tactic to try and squeeze more
money from it.

One source close to the St George estate said:
“We said to them [Fleming] that we’ve rejected
you're offer because Hutchison offered a much
higher price, and the political reality is that the
Government doesn’t want one person to own
100 per cent of the Port Authority because of
what has happened recently.”

Yet contacts close to Fleming argued: “All

SEE page 7B

Money at Work

NASSAU OFFICE

(242) 356-9801

- FREEPORT OFFICE

(242) 351-3010

Babak takes
$3.25m Port
claim to UK
arbitration

@ By NEIL HARTNELL
Tribune Business Editor

OUSTED Grand Bahama
Port Authority (GBPA) chair-
man Hannes Babak has taken
his demand for the compensa-
tion he claims is due to him
under his employment contract
to the International Chamber
of Commerce’s (ICC) arbitra-
tion court in London, his attor-
ney alleging that he is owed at
least $8.25 million for the year

- to March 31, 2007.

In a February 29, 2008, letter
to the ICC’s International
Court of Arbitration, setting
out Mr Babak’s case against
Intercontinental Diversified
Corporation (IDC), the GBPA
and Port Group Ltd holding
company, his attorney, Andre

SEE page 5B

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PAGE 2B, WEDNESDAY, APRIL 2, 2008

THE TRIBUNE



Company settles accident
claim with $240,500 cheque

@ By NEIL HARTNELL
Tribune Business Editor

A BAHAMIAN construction firm
paid $240,500 to the widow of a for-
mer employee to settle a claim
brought under the Fatal Accidents
Act, even though the Court of Appeal
allowed the company’s appeal in the
case. :

The Court of Appeal judgment,
written by Justice Emanuel Osade-
bay on behalf of himself and fellow
justices, Lorris Ganpatsingh and Hart-
man Longley, found that Regina
Johnson, widow of Malcolm Johnson,
“cannot maintain” a case against Sol-
dier Road-based New Providence
Building Supplies.

The justices ruled that she could
not bring a case against the company
under the Fatal Accidents Act, or a
common law case for negligence, to
recover $100,000 in a life insurance
policy her late husband had taken out

with Family Guardian Insurance
Company.

However, during the proceedings,
New Providence Building Supplies’
attorney, Reginald Shepherd of
Lennox Paton, informed the court

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But court rules employee’s widow had no claim
under either common law or Fatal Accidents Act

that a $240,500 cheque had been sent
to Mrs Johnson’s attorney, Sharon
Wilson, to settle the Fatal Accidents
Act claim.

New Providence Building Supplies
had appealed a previous ruling by
Supreme Court Justice, Jeanne
Thompson, who had found that Mrs
Johnson was denied the $100,000
insurance policy proceeds due to the
company’s “negligence and bréach of
duty of care owed” to her husband.
The company had been ordered to
pay $100,000 plus 5 per cent interest
per annum from the date of Mr John-
son’s death on July 15, 2000.

The Court of Appeal recorded that
he died in a vehicle accident, when
the concrete mixer truck he was dri-
ving for New Providence Building
Supplies veered off Interfield road
and overturned after colliding with

several utility poles.

Mr Johnson had been employed
for two years, and the couple had one
stepson and a daughter who was born
after his death.

Estate

Yet his wife, as executrix of his
estate, was unable to claim on the
Family Guardian insurance policy,
due to its Accidental Death Benefit
Rider. This stated that no Accidental
Death Benefit “will be payable” if
death was caused by “any drug, poi-
son, gas or fumes voluniarily taken,
administered or inhaled”.

The Supreme Court judgment
recorded that both the company and
Mrs Johnson agreed that the cause
of death was caused by carbon
monoxide inhalation and the con-

treal.

sumption of alcohol, meaning Family
Guardian was right to withhold pay-
ment.

Yet the judge decided that Mrs
Johnson was able to maintain an
action under both the Fatal Accidents
Act and under the common law prin-
ciples of negligence.

In its judgment, the Court of
Appeal described as “unusual” the
fact that Mrs Johnson’s allegations of
negligence at common law against the
company over her husband’s death
were “built on submissions with no
evidence.... There was nothing on the
record to indicate that [New Provi-
dence Building Supplies] had been
found guilty of negligence”.

As a result, the Court of Appeal
reversed the Supreme Court’s find-
ing on the common law action.

On the Fatal Accidents Act

grounds, New Providence Building
Supplies’ attorney argued that the
exception clause, which limited Fam-
ily Guardian’s liability, meant Mr
Johnson’s estate could was not enti-
tled to get the accidental death bene-
fit and therefore could not claim for
an alleged loss it was never going to
receive.

To claim under the Fatal Accidents
Act, the Court of Appeal said the cir-
cumstances of Mr Johnson’s death
should have been such that he would
have been able to claim under the
Family Guardian insurance policy had

he survived.

In this case, the court ruled he
would have been unable to pursue
such an. action because of the excep-
tion clause in the Family Guardian
policy, and therefore rejected the
claim.

Gold futures plummet on Wall Street rally, stronger dollar

34 cents to settle at $8.95 a

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= By STEVENSON JACOBS
AP Business Writer

NEW YORK (AP) — Gold
prices tumbled Tuesday, drop-
ping below $900 as a stronger
dollar and hopes that the cred-
it crisis may finally be easing
led investors to shed hard
assets in favor of stocks.

Other precious metals also
fell sharply, with platinum
plummeting more than $100

and silver and.copper also trad-

ing lower.
The steep losses came as

Wall Street staged a big rally to
start the second quarter, sig-
naling new optimism that the
credit crisis that has roiled
global markets and slowed the
United States economy may
finally be subsiding. The Dow
Jones Industrials jumped 390
points.

“There’s a perception that
the credit freeze may finally
be thawing and that has hedge
funds leaving the commodities
complex and buying equities,”
said Jon Nadler, analyst with
Kitco Bullion Dealers in Mon-

FIRSTCARIBBEAN

INTERNATIONAL BANK

CAREER OPPORTUNITY

jfor

SENIOR FINANCIAL ANALYST

Qualifications:

BAHAMAS

Accounting designation (ACCA, CPA or other similar designation)
Audit experience (Preferred) .
Prior experience working in/with financial institutions

Proven analytical skills in reporting, modelling and forecasting
Proven team management skills

General Requirements/Responsibilities:

Ensures the integrity of financial information presented for FirstCaribbean
International Bank (Bahamas) Limited
Analyzes financial results and prepare variance reports for local and parent

company leaders.

Assist with the preparation of accurate and timely quarterly financial
statements for publication as required by the Securities Commission and

ed ps -BISX.

Ensures that financial and management reports are prepared and distributed
within established timelines
Consults with business units of the Bahamas entity, monitors their

performance and provides advice based on analyzed fesults and strategic

. plan priorities

/

Liaises with business heads, anticipating the impact of internal and external
factors and trends on overall profitability, return on investment and future
growth for the Bahamas entity.
Interpret changes in accounting and reporting standards and recommend

changes and enhancements to systems and reports.

Remuneration:

¢ Salary commensurate with management position at the FC Level 6
(Note: 1 - 11 job levels)

Benefits- attractive salary, six weeks vacation, preferred loan rates, employee share

purchase plan, variable incentive pay (bonus), medical scheme, pension benefit

Applicants are requested to submit their resume with a cover letter via email
by April 4th, 2008 to: deangelia.deleveaux @firstcaribbeanbank.com

FirstCaribbean International Bank (Bahamas) Limited thanks all applicants for their
interest, however only those under consideration will be contacted.
Vacancies are open to Bahamian residents only.

1 Fit Masai tseebae Ey vere, ayy

'



Gold for June delivery
plunged $33.70 to settle at
$887.80 an ounce on the New
York Mercantile Exchange,
after earlier falling as low as
$876.30 — its lowest level in
nine weeks.

Gold has fallen nearly 10 per
cent in the last month and is
down more than $100 from its
record high of $1,038.60,
reached March 17. The metal
has sunk as the dollar has
steadied against the euro and
crude oil prices have eased,
diminishing gold’s appeal as an
inflationary safe haven. The
dollar ticked higher Tuesday
against the euro, which bought
$1.5610 in afternoon trading.

Analysts say gold could sink
lower as more large funds pull
positions out of gold and buy
assets that offer higher returns.

“We think the risk of further
de-leveraging (of gold) is too

high and even if physical
demand remains strong, it will
not prevent gold from selling
off,” John Reade, analyst with
UBS Investment Bank in Lon-
don, said in a note.

Other precious metals also
fell sharply Tuesday. Silver for
May delivery lost 42 cents to
settle at $16.890 an ounce on
the Nymex, after earlier falling
to a nine-week low of $16.30
an ounce.

Platinum for July delivery
dropped $105.60 to settle at
$1,937.80 an ounce on the
Nymex, after earlier falling as
low as $1,887. Nymex copper,

meanwhile, slipped 2.45 cents '

to settle at $3.8065 a pound.

In. agriculture markets, |

wheat prices fell further a day
after the US Department of
Agriculture predicted farmers
will increase the acreage dedi-
cated to the crop.

Wheat for May delivery lost

bushel on the Chicago Board
of Trade, after earlier falling
as low as $8.90 a bushel.

Other agriculture futures
rose. Corn for May delivery
climbed 16.75 cents to settle at
$5.8425 a bushel on the CBOT,
while May soybeans added
13.75 cents to settle at $12.11 a
bushel.

In energy futures, crude oil
fell Tuesday after the stronger
dollar diminished the appeal
of hard assets asa hedge
against inflation.

Light, sweet crude for May
delivery fell 60 cents to settle at
$100.98 a barrel on the Nymex,
after earlier falling to $99.55.

Other energy futures traded
mixed Tuesday. May gasoline
futures added 1.21 cents to set-
tle at $2.6392 a gallon, while
May heating oil futures fell
2.64 cents to settle at $2.8797 a
gallon.

POSITION VACANY

MAINTENANCE SUPERVISOR

Pepsi-Cola Bahamas an affiliate of PepsiAmericas Inc is currently
seeking applicants for the. position of Maintenance Supervisor
to assume responsibility for the efficient operation and
maintenance of its equipment and machinery, with a keen focus
on detail in keeping with international standards. Applicants
must be customer oriented with a track record of mastery in

mechanical areas.

The incumbent will be required to:

e Ensure the effective and efficient performance of the
maintenance function for the building and the environment;
the packaging lines; electrical distribution and RO water

systems

Execute a planned and preventative maintenance program
Diagnose equipment malfunction and effect repairs as

NECESSATY

Maintain the technical integrity of the plant to attain
production targets and keep abreast with the latest
technological advancements

The ideal candidate should have strong Electrical & Mechanical
Engineering experience, demonstrate a proficiency to trouble
shoot and repair common electrical and mechanical problems
and have the ability to work independently.

Please e-mail resume to: hrpepsibahamas@gmail.com





THE TRIBUNE

WEDNESDAY, APRIL 2, 2008, PAGE 3B





Bahamas caught ‘in
an economic pincer’

@ By NEIL HARTNELL
Tribune Business Editor

BAHAMIAN businesses and con-
sumers are caught in “a pincer”
between escalating costs and declining
revenues, the Chamber of Com-
merce’s president warned yesterday,
with inflationary pressures leaving
people with less disposable income.

Dionisio D’Aguilar, who is also
president of laundromat chain Super-
wash, told The Tribune: “We’re
caught in a pincer of rising costs and
reducing revenues. There are less
tourist arrivals, less economic activity
and rising costs through increasing
energy prices. It’s becoming a real,
real issue.”

The Chamber president’s com-
ments bear out Tribune Business’s
previously reported analysis, which
was that Bahamian companies and
consumers are being squeezed at
‘both ends’.

The credit crunch and global eco-
nomic woes, combined with the blow
that Bahamian business and consumer
confidence took as a result of Har-
rah’s withdrawal from the $2.6 bil-
lion Cable Beach project, has resulted
in less tourism activity, reduced for-
eign direct investment and a decline in

Bahamian real estate by wealthy for-
eign buyers.

This, in turn, has reduced sales rev-
enues and salaries, especially for those
relying on commissions and gratu-
ities, for Bahamian businesses and
consumers alike. ~

At the same time, escalating food
prices and energy costs, with oil prices
remaining over $100 per barrel, have
prompted increases in the prices of
everyday items across the board. In

turn, this has fuelled inflation and liv-

ing cost increases, leaving Bahami-
ans with less disposable income.

Mr D’ Aguilar expressec’ disap-
pointment that successive govern-
ments had yet to craft a National
Energy Policy, arguing that the
administration needed to take the
lead in encouraging businesses and
consumers to become more energy
efficient and adopt alternative energy
forms. ©

The Chamber president said people
needed to be “motivated” into energy
conservation and alternative forms
through tax incentives, reducing cus-
toms duty and stamp duty on import-
ed solar water heaters and such like.

“I’m a little disappointed that this
National Energy Policy they have
been talking about has not come to

DIONISIO D'AGUILAR



would be good if they developed a
policy that encouraged people to use
less.

“You've got to be seen to be push-
ing people into energy conservation.
Motivate people through the tax
structure by making solar water
heaters much cheaper than electrical
ones.

“You've also got to encourage BEC
to really start to look at reverse
metering, so that businesses can sell
the surplus electricity they generate
through alternative means back to
the grid.”

Warning’that rising electricity bills
were “eating up more and more of
people’s salaries”, Mr D’Aguilar
added: “You’ve not only got to

show them how to use less.”

Mr D’Aguilar’s suggestions mir-
rored those of the Coastal Aware-
ness Committee, which in advancing
environmental awareness yesterday
called upon the Government to allow
Bahamians to import items such as
energy saving light bulbs, “green” or
reusable shopping bags, solar lights
and other solar powered devices duty
free.

. It also urged the Government to
reduce customs duty on the importa-
tion of fuel efficient vehicles and a
tax increase on vehicles and boat
engines that are less environmentally-
friendly in their consumption of ener-

gy.

Meanwhile, Mr D’Aguilar said:
“Bahamian businesses really need to
look at how they can start to conserve
and use less energy. Food store prices
are going through the roof, and
Bahamian salaries are not going up.

“There’s nothing we can do about it
except put up our prices and come
up with creative ways to conserve.

“Transportation costs will grow and
eat up people’s salaries. More and
more will go on energy and trans-
portation. The consumption of gaso-
line is inelastic. It’s leaving less and
less disposable income for people’s

less, there is less and less economic
activity.”

The Chamber president said there
were also questions on the level of
liquidity in the Bahamian commer-
cial banking system, and whether this
was enough to meet loan demand.

He said he knew of at least two
people who had told him they could
not obtain mortgage loans from
Bahamian banks, even though they
were qualified.

Mr D’ Aguilar said he hoped lend-
ing activity would be directed towards
more productive activities, such as
mortgages and commercial loans,
rather than the higher-yielding con-
sumer loans.

Any economic downturn could see
people lose their jobs or placed on
one and two-day weeks in the hotel
industry, something that could cause
problems for highly-leveraged
Bahamians who were up to their eye-
balls in debt.

Fred Mitchell, the PLP MP for Fox
Hill, told the House of Assembly that
his constituency office had recently
been inundated with a spike in
requests for assistance in meeting
food, housing and electricity costs,, a
potential sign that the economic
crunch is beginning to bite low and

demand for second homes and

fruition,”

Mr D’ Aguilar said. “It

encourage people to use less, but

consumption, and as they consume

Investors asking what to do after dismal
Q1 should consider longer-term goals

HB By TIM PARADIS
AP Business Writer

NEW YORK (AP) — For
some uneasy investors, the
questioning could start at the
mailbox: Now what?

Statements for investments
like 401(k) plans or mutual
funds will soon arrive, show-
ing investors how much they
shared in the bloodletting Wall
Street saw during the first
three months of the year.

With evidence of the quar-
- ter’s toll in hand, more
investors might be tempted to
call brokers or financial advis-
ers, asking what to do now. For
many with a long-term invest-

ment strategy, the answer,

might simply be stay put or at
least consider only a few mod-
est moves to snap up bargains.

Investors might find some
solace knowing that the car-
nage was widespread. The
Standard & Poor’s 500 index
— the yardstick for many stock
investments — fell nearly 10
per cent in the first quarter.
And all but a handful of rela-
tively small mutual fund cate-
gories lost ground.

So for investors who didn’t
wade into volatile corners of
the market like gold or into
funds that bet stocks would fall
— so-called short-bias invest-
ments — it was a fairly dismal
period.

For many, the quarter’s
gyrations were a reminder of
the fragility of some invest-
ments.

Investor Paul-McCullough

has remained distrustful of the
stock market since being badly
burned by the dot-com col-
lapse.

Instead of stocks, he puts his
money into holdings like CDs
and savings accounts.

“T took a tremendous loss,”
he said, noting his portfolio fell
about 40 per cent at the mar-
ket’s swoon at the start of the
decade.

He said he might venture
back in the stock market at
some point but that he mostly
plans to rely on more consery-
ative investments and deferred
compensation to get him
through retirement, which he
estimates is still at least a
decade off.

“They’re certainly safer,” he
said of his investments now
that he’s out of stocks.

McCullough isn’t alone.
Like-minded investors seeking
the tranquility of less-volatile
investments have shoehorned
record stacks of cash into mon-
ey market funds in recent
months.

But while avoiding a pull-
back in the markets might be
ideal, it’s hard to accomplish.

And investors who simply
step aside can end up in the
financial dust if the stock mar-
ket comes roaring back.

Wall Street’s biggest gains
often occur in short bursts
when the stock market is
climbing out of a downturn.
Missing just a few big up days
can sharply limit an investor’s
gains.

“You don’t want to miss it

* when things turn around and

things start to look a little bet-
ter,” said Russell Croft, port-
folio manager at Croft
Leominster Investment Man-
agement in Baltimore.

Croft said he reminds clients
that volatility is unavoidable
in the stock market and that
those who don’t need to draw
on their investments in the
next few years should likely
make few changes to their
portfolios.

“We try to preach the long-
term focus of how we do
things. There are always,
always going to be times of
volatility in the stock market. It
kind of pays to be an optimist
and stick with it through the
bad times. The trend, as we
know, is to go up,” he said of
the stock market.

Investors might consider tak-
ing advantage of the pullback
by steering some of their hold-
ings into quality stocks that
have been beaten down,
aecording to Dean Junkans,
chief investment officer at
Wells Fargo Private Bank in
Minneapolis.

With interest rate reductions
cutting into bond yields, for
example, Junkans - said
investors should think about
buying stocks of solid, divi-
dend-paying industrial or tech-
nology companies in order to
keep ahead of inflation.

He said cautious investors
might consider municipal
bonds, which were hard hit in
the first quarter.

“This is a chance to make

’

SECTIONS EDITOR
THE TRIBUNE

is seeking a Main Section Editor to design news
pages and write eye-catching head-lines. Solid
journalistic credentials essential, including a keen
news sense, excellent text-editing ability and an
aptitude for supervising staff. Applications please

to:



Managing Editor
The Tribune
P.O.Box N-3207
Nassau, Bahamas

tweaks and be opportunistic in
your portfolio. Along with
some of those tweaks take
some tax losses if you need to
do some repositioning,” he
said, suggesting investors con-
sider using the pullbacks in

their investments to reduce
their tax burdens.
In any case, there are deft
moves to be made, he said.
“A lot of our clients are
looking for w here there are
opportunities.”

middle-income Bahamians.

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PAGE 4B, WEDNESDAY, APRIL 2, 2008

THE TRIBUNE



Redundancy payment

‘most misunderstood’
aspect of major Act

WANTED

Applications for the position of

A BUYER AND STORE MANAGER

Experience in buying for a retail store
Experience in managing a retail store
Experience in managing people _
Must have excellent organizational skills

Must have excellent customer service skills






Please submit resume and photograph to
SPORT LOCKER,

P.O. Box N-523

Nassau, Bahamas





Legal Notice

‘NOTICE

MAMICA LIMITED

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company is
in dissolution, which commenced on the 27th day of March
2008. The Liquidator is Argosa Corp. Inc., P.O. Box N-7757
Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

UBS

UBS (Bahamas) Ltd. is one of the world's leading financial institutions in the Caribbean.
Through our Business Area Wealth Management International we look after wealthy
private clients by providing them with comprehensive, value enhancing services. Qur
client advisors combine strong personal relationships with the resources that are
available from across UBS, helping them provide a full range of wealth management
Services.

In order to strengthen our Controlling & Accounting team in Nassau, we are looking to
fill the following position:

Successor for Head Controlling & Accounting

After a training phase of 12-15 months the candidate will have the following essential
duties and responsibilities: - .

Reporting of financial data to head office

Financial reporting to local management and local regulator

Planning and forecasting

Preparation of Financial Statements

Maintain relationship with external auditors

Ensure compliance with SOX section 302 and 404 and regulatory requirements

Supervise a team of accountants.

Minimum Requirements
CPA certification
Graduate degree in Finance or Economics
Sound, working knowledge of International Financial Reporting Standards (IFRS)
and banking regulations (BASEL Il)
Experience in leading a team
7 - 10 years working experience in same or similar position
Previous work in a financial institution preferred
Extensive knowledge of MS Office and related Application Software products

In addition, the candidate must have an in-depth understanding of Financia
instruments and the banking business. The ideal candidate must possess strong
analytical, communication, organizational and leadership skills, A strong
‘business/customer orientation is essential

Written applications should be received on or before April 11, addressed to:

UBS (Bahamas) Ltd,
Human Resources
P.0, Box N-7757
Nassau, Bahamas

arbanamas@uns.com or



ment Act was passed. It aimed
to prevent employers from
arbitrarily terminating employ-
ment contracts and putting
workers on agreements that
were in line with the Act, but
conferred less benefits.

FROM page 1B

where the misunderstanding
comes in, in my view,” Mr Fer-
guson added.

This section was designed to
protect workers who might
have been employed on “more
favourable terms” by their
employers when the Employ-

For line workers who have
been employed for 12 months
or more, the Employment Act

Legal Notice

NOTICE

_ENGLISH ROSE INVESTMENTS LIMITED
(In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 27th day of
February 2008. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

TARKUSHA LIMITED

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company is
in dissolution, which commenced on the 26th day of March
2008. The Liquidator is Argosa Corp. Inc., P.O. Box N-7757
Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)



Legal Notice

NOTICE

DEWBERRY VENTURES LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company is
in dissolution, which commenced on the 28th day of March
2008. The Liquidator is Argosa Corp. Inc., P.O. Box N-7757
Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

grants redundancy provisions
of two weeks’ notice or two
weeks’. basic pay in lieu of
notice, and two week’s basic
pay for each year worked up to
24 weeks. This effectively pro-
vides a maximum of six
months’ pay.

For supervisors, the system is
the same under the Act, except
they receive four weeks’ or one
month’s notice or pay in lieu of
notice, and four weeks’ wages
for every year worked up to
48 weeks. They effectively
would walk away with a year’s
pay.
Yet under common law,
employees have a right to
plead that due to the peculiar
nature of their job, their par-
ticular circumstances require a
a greater benefit than due to {8
them under the Employmen iy asc
Act.



Share your news

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from people who are
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you are raising funds for a
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for improvements in the
area or have won an
award.

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

Legal Notice

NOTICE.

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

ANSLEIGH LIMITED

In Voluntary liquidation

“Notice is hereby given that in accordance with Section 137 (4) of
the International Business Companies Act (No. 45 of 2000),
ANSLEIGH LIMITED is in Dissolution.”

The date of commencement of dissolution is the 8th day of Febru-
ary 2008.

Lutea Trustees Limited
9 Burrard Street
St. Helier, Jersey,
JE2 4AP
Liquidator .

Legal Notice

NOTICE

SHALESA OVERSEAS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company is
in dissolution, which commenced on the 27th day of March
2008. The Liquidator is Argosa Corp. Inc., P.O. Box N-7757
Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

“Home delivery of The
Tribune gives me a head
start. The Tribune is

my newspaper.”

HAROLD ANTOR

INSURANCE EXECUTIVE

For delivery of the leading

Bahamian newspaper, call The
Tribune's Circulation Department
at 502-2383 or visit our offices on
Shirley Street to sign up today!

The Tribune

Mey Vowe, ly Vlewspaper!





THE TRIBUNE WEDNESDAY, APRIL 2, 2008, PAGE 5B

BTC’s TDMA global
roam to finish at
month’s end

“It also allows customers to be able to
access new features like multi-media mes-
saging that will become available in a few
months.”

BTC will decommission its TDMA net-
work at the end of the year. Limited
TDMA roaming is now available in South
Florida, the company’s largest TDMA
roaming partner, AT&T, having begun to
decommission its network.





opment, said;

“TDMA customers that use their phones
when they travel should visit their nearest
Cyber World or BTC at JFK or the Mall at
Marathon, or any BTC location in the
Family Islands to move over to the GSM
network.”

“GSM offers international roaming on
more than 145 networks in over 80 coun-
tries around the world.

THE Bahamas Telecommunications
Company (BTC) yesterday reiterated that
international roaming on its TDMA cell
phones would end on April 30, 2008, a
move that could cause major inconve-
nience for Bahamian businessmen when
it came to communicating with head offices
and clients while overseas.

Marlon Johnson, BTC’s vice-president
for sales, marketing and business devel-

Babak takes $8.25m Port
claim to UK arbitration



MARLON JOHNSON, BTC’s vice-president for sales, marketing and
business development

FROM page 1B

Feldman, said he entered into
his employment contract with
IDC and the Port Group of
Companies on June 1, 2006.

Mr Feldman said his client
was to earn 25 per cent of all
consolidated IDC profits
above the amount of $7 mil-
lion.

“[IDC] has not provided the
necessary accounts to [Mr
Babak], and has not paid any
remuneration whatever to the
claimant and, in particular, that
due for the past business year
prior to March 31, 2007, and
due to be paid by April 15,
2007,” Mr Feldman wrote.

“(Mr Babak] therefore seeks
an account of what is due to
him and payment. As to
amount, the receivers of the
Port Group of Companies
have stated that the profit for
the year was $34 million plus a
dividend paid of $6 million,
with the result that the
claimant is entitled to the prin-
cipal sum of $8.25 million and
interest if those sums prove to

be accurate.”

Mr Feldman pointed out
that a clause in Mr Babak’s
contract stipulated that the UK
would be the chosen place for
arbitration should any dispute
arise from it.

In his Points of Claim, Mr
Babak alleged that IDC had
failed to ensure its annual
audited accounts for the rele-
vant financial year were drawn
up by March 31, 2007, and to
pay him what was due by April
15, 2007. As a result, his
employment agreement had
been breached.

He alleged that IDC’s con-
solidated profits, according to
his contract, were to be based
on the profits of all Port com-
panies in which IDC held a
direct or indirect interest; and
any profits realised by Port
companies from operations or
asset sales.

The $8.25 million figure is a
far cry from the $65 million
that an IDC director, Ian Box-
all, said the company might be
liable to pay Mr Babak in an
affidavit how swore late last

year.

A December 20, 2007, letter
from IDC’s Cayman attorneys,
Bodden & Bodden, to Brian
Simms, the attorney acting for
then-GBPA receivers Clifford

and Myles Culmer, urged that
IDC be provided with the
2006-2007 audited accounts for
the GBPA, Port Group Ltd
and all their subsidiaries, hav-
ing received such a request

Legal Notice

NOTICE

EXXONMOBIL ABU DHABI (ONSHORE GAS)
LIMITED

NOTICEIS HEREBY GIVEN as follows:

(a) EXXONMOBIL ABU DHABI (ONSHORE GAS)
LIMITED is in dissolution under the provisions of the
International Business Companies Act 2000.

(b) The dissolution of the said Company commenced on the 31st
day of March, 2008 when its Articles of Dissolution were
submitted to and registered by the Registrar General.

(c) The Liquidator of the said Company is MaryBeth Taboada,
16945 Northchase Drive, Houston, Texas 77060, U.S.A.

Dated the 31st day of March, 2008.

from Mr Babak’s Cayman
attorneys, Maples & Calder.
“Having had the contract
independently valued, we
expect that should the contract
be repudiated by IDC by fail-

ing to provide such documents
or otherwise perform its oblig-
ations, the likely loss to IDC is
in the range of $65-$100 mil-
lion,” Bodden & Bodden
warned.

Legal Notice

NOTICE

EXXONMOBIL ABU DHABI (ONSHORE GAS)
LIMITED

Creditors having debts or claims against the above-named
Company are required to send particulars thereof to the
undersigned c/o P. O. Box N-624, Nassau, Bahamas on or
before 24th April, A.D., 2008. In default thereof they will
be excluded from the benefit of any distribution made by

the Liquidator.

Dated the 31st day of March, A.D., 2008.

MaryBeth Taboada

Liquidator
16945 Northchase Drive
Houston, Texas 77060, U.S.A.

HARRY B. SANDS, LOBOSKY MANAGEMENT
Co. LTD.
Attorneys for the above-named Company

BISk i 2a

Pricing Information As Of:
SIT WWW .BISXBAHAMAS.COM FOR MORE DATA & INFORMATION
G 0.28 ( CHG 0.01 / YTD ~103.27 (YTD % -5.00
Previous Close Today's Close Change Daily Vol. _EPS$ Div $ P/E
Abaco Markets 1.93 1.93 0.00 0.135
Bahamas Property Fund 11.80 11.80 0.00 1.502
Bank of Bahamas 9.61 9.61 0.00 0.643
Benchmark 0.99 0.99 0.00 0.188
Bahamas Waste 3.66 3.66 0.00 0.289
Fidelity Bank 2.60 2.60 0.00 0.058
Cable Bahamas 13.63 13.63 0.00 1.093
Colina Holdings 2.87 2.87 0.00 0.031
Commonwealth Bank (S1) 7.22 7.22 0.00 0.428
Consolidated Water BDRs 4.21 4.63 0.42 0.157
Doctor's Hospital 2.50 2.50 0.00 0.316
Famguard 7.90 7.90 0.00 0.713
Finco 12.92 12.92 0.00 0.810
FirstCaribbean 13.50 13.50 0.00 0.914
Focol (S) 5.50 §.50 0.00 0.363
Freeport Concrete 0.74 0.67 -0.07 0.035
ICD Utilities 6.86 6.86 0.00 0.411
J. S. Johnson 12.30 12.30 0.00 1.059
Premier Real Estate _ 10,00 10.00 0.00 1.167
~ Fidelity Over-The-Counter Securities
Bid $ Ask $ Last Price
14.60 15.60 14.60
6.00 6.25 6.00
0:38 0.40 0.35
lina Over-The-Counter Securities
41.00 43.00 41.00
14.60 15.60 14.00
a _ 0.45 0.55 0.45
— BISX Listed Mutual Funds
; NAV YTD% Last 12 Months
1.304134* 5.70%
2.982729* 14.89%
1.384657*** 3.92%
3.6651* 18.28%
12.0429* 5.69%
100.00**
100.00**



NOTICE

NOTICE is ae ae that ISABELLE PIERRE of
WASHINGTON 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 2nd day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

11.50
8.65
0.85
2.10

#1.30

10.35
2.10
4.73
3.60
2.20
5.94

12.45

13.50
5.12
0.54
6.86
8.60

10.00

NOTICE

NOTICE is hereby given that CLERDORA VALNOR OF
PINDER’S POINT, P.O. BOX N-45056, FREEPORT, GRAND
BAHAMA, 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 2nd day of
APRIL, 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.

6.00%

Weekly Vol. EPS $ Div $
1,999 1.160
0.000
-0.023

Symbol
Bahamas Supermarkets
Caribbean Crossings (Pref)
RND Holdings _

NOTICE S2ulcLow
NOTICE is hereby given that JUSTE KETIA of LIFE BUOY
STREET OFF EAST 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 2nd day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

0.900
0.480
0.000



2.750
0.900
0.000

4.450
1.160
-0.023

ABDAB
Bahamas Supermarkets
RAND Holdings commas



Fund Name Div $ Yield %
Colina Bond Fund

Colina MSI Preferred Fund
Colina Money Market Fund
Fidelity Bahamas G & | Fund
Fidelity Prime Income Fund
CFAL Global Bond Fund
CFAL Global Equity Fund
CFAL High Grade Bond Fund 1.00**

Fidelity International Investment Fund —_9.6433* -0.20% -8.16%

FINDEX: CLOSE 912.61 / YTD 4.14% / 2007 28.29%

1.2037
2.6254
1.2647
3.1424
11.4467
.100.0000
100.0000
1.0000
9.6433



NOTICE

NOTICE is hereby given that JONELL JOSEPHAT



PIERRE of SAMSON STREET, NASSAU VILLAGE,
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 2nd day of
April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.







BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00
52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks

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

Change - Change in closing price from day to day
Daily Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month earnings

(S) - 4-for-1 Stock Split - Effective Date 8/8/2007
(S1) - 3-for-1 Stock Split - Effective Date 7/11/2007

MARKET TERMS.

YIELD - last 12 month dividends divided by closing price

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

Last Price - Last traded over-the-counter price
Weekly Vol, - Trading volume of the prior week

NAV KEY

*~ 29 February 2008
**~ 341 December 2007
*** 24 March 2008

EPS $ - Acompany's reported earnings per share for the last 12 mths
NAV - Net Asset Value
N/M - Not Meaningful

B77

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



4 / FOR MORE DATA & INFORMATION CALL (242) 394



PAGE 6B, WEDNESDAY, APRIL 2, 2008 THE TRIBUNE

STF
ye

Citing, say
SHOWER

«gaa eee
FQARY ang gene “Sense 98"
Wer" 8 Que ane



“T get a better sense of what



is happening in The Bahamas iF



from reading the Tribune.
Where other daily
newspapers fall short, the
Tribune delivers. ’m
confident knowing The
Tribune looks out for my

interests. The Tribune is

my newspaper.” The Tribune

NELSON JOHNSON 7
TAX! DRIVER



THE TRIBUNE

WEDNESDAY, APRIL 2, 2008, PAGE 7B





Different versions emerge
over Port talks breakdown

FROM page 1B

week they [the St George estate] have been

- whispering to anyone they could possibly think
of to carry the message to Fleming that they
were going to do some sort of deal with Hutchi-
son.”

This source said that in meetings with Flem-
ing, Hutchison Whampoa said that while it was
interested in acquiring the GBPA, it did not
want to purchase any of the two sides’ share-
holdings while the ownership dispute and liti-
gation were still ongoing on the Bahamian
courts.

The Tribune was told that Hutchison Wham-
poa did not want to merely buy an interest in the
litigation, and also harboured concerns as to
what it was acquiring - is the St George estate’s

$100m inflation threat

stake 50 per cent, as it alleged, or 25 per cent as
the Hayward sided claims?

Fleming, as previously revealed by The Tri-
bune, has agreed a deal in principle with the
trustees of the Hayward family trust to acquire
its stake, held by the investment vehicle,
Seashells Investments, for $100 million.

Hutchison Whampoa had previously offered
$125 million to Sir Jack, but when the formal
documents were submitted to the trust’s trustees
and their advisers, it was felt that there were so
many terms and conditions attached that it
would ultimately be much less than the headline
figure.

“Lady Henrietta [St George] and the family
are determined to get $125 million from the

‘Flemings,” the source said, citing this disagree-

ment as a key factor in why the talks broke
down.

One aspect that makes these talks different
from normal mergers and acquisitions negotia-

tions is that Fleming and Hutchison are having
to deal with a family with diverse and competing
interests/agendas, rather than a fellow corporate
team.

It was suggested to The Tribune that Lady
Henrietta and the estate’s fellow executors,
Chris Cafferata and her brother, Lord Euston,
were coming under pressure from other family
members to obtain a higher price than the one
offered by Fleming. It had offered the same
$100 million deal as the offer accepted by Sir
Jack.

Another source added: “On the face of it the
offer by Hutchison may be a lot higher, but by
the time they’ve finished doing what they want
to do, the cheque will be a lot lower.”

They suggested that Fleming never had any
real hope that the mediation would result in a
breakthrough, believing it instead would give the
estate’s attorney, Fred Smith, an opportunity
to play for time and relieve his personal legal



burden, which currently involves representing
the FNM’s Zhivargo Laing in the election court
case.

Yet a source close to the St George estate
suggested that Fleming was “just playing games
with them”. .

“They did discuss a price but it kept going
down,” the source said. “They offered $100 mil-
lion, but wanted to conduct a complete audit, do
due diligence and settle Hannes Babak’s con-
tract net of this deal.”

Whatever the behind the scenes negotiations
involved, these latest developments continue
to leave Freeport and its economy in limbo,
with seemingly no énd in sight to the GBPA
ownership turmoil and the negative ripple
effects that spew from it.

One source said: “Freeport is a ship dead in
the water. There’s just a generator kicking over
with a few lights and the fridge working. The
engine is dead.”

FROM page 1B

Yet he added that if goods
were “unloaded and reloaded”
in Florida for onward shipping
to the Bahamas, “that could
be an issue” and attract the 7
per cent.tax.

While larger Bahamian busi:
nesses would have the ability
to source product from else-
where, and establish alterna-
tive supply lines outside Flori-
da to circumvent the sales tax,
Mr Pinder pointed out that
small businesses - the lifeblood
of any economy - may not have
that option. Businesses that

sold perishables, especially
food stores, would also have
no choice but to import from
south Florida to prevent their
goods from going off.

And even larger companies
would have to conduct a
cost/benefit analysis to deter-
mine whether it was cheaper
and more cost effective to ship
produce from other US states,
such as Georgia and thé Car-
olinas, rather than Florida, as
shipping costs might exceed
the sales tax effect.

One industry that could be
hit hard if the Florida export
sales tax exemption is repealed

_is the Bahamian shipping

industry, especially the likes of
Tropical Shipping, Pioneer

Shipping, Betty K Agencies
and Seaboard Marine,.which
service this nation solely from
the Florida market.

Acknowledging that the
sales tax exemption’s repeal
could havea “detrimental
effect” on Bahamian business-
es and consumer, Mr Pinder
said: “The retailers in the
Bahamas are likely to pass the
extra costs on to their cus-
tomers, and when prices go up,
sales go down.”

Adding that the impact of
an automatic 7 per cent sales
tax increase would be “sub-
stantial” for the Bahamas, Mr
Pinder said Bahamian con-
sumers would be left with*
“even less money to spend on

other things”.

Dionisio D’Aguilar, the
Bahamas Chamber of Com-
merce’s president, told Tribune
Business yesterday that the
Bahamas and its business com-
munity needed to begin the
lobbying process against the
sales tax exemption’s repeal
“immediately”.

Adding that there seemed
to be “no end in sight” to the
ever-increasing operational
costs Bahamian companies
were having to deal with, Mr
D’ Aguilar said at a time when
costs were rising and revenues
for many businesses were flat
at best due to declines in eco-
nomic activity, the last thing
the Bahamas needed was for

Florida to impose a 7 per cent
tax on all exports.

“Costs are. increasing and
revenues aren’t. We’re caught
in a pincer movement,” Mr
D’ Aguilar said. “You don’t
need a 7 per cent increase in
the cost of goods right now, as
you're getting killed by rising
energy prices. This is going to
put a huge inflationary expense
on our costs across the board.

“It'll be another coal in the
fire fuelling the never-ending
rise in our operating costs. It
seems like there is no end in
sight in this regard.”

Florida’s Taxation and Bud-
get Reform Commission had
passed proposals to repeal all
the state’s sales tax exemptions

- apart from those with public
policy sensitivities - for inclu-
sion on the November 2008
ballot that will be put directly
to voters. rt

Mr Pinder said the ballot
sales tax exemption repeal
needed to be approved by a
minimum 60 per cent of vot-
ers to pass as a constitutional
amendment. Due to its nature.
the exemption’s end does not
have to be approved by Floti-
da’s legislature. 7

If it gets passed, the
Bahamas can lobby for a peti-
tion and Bill to reinstate the
exemption, but this has to be
passed by Florida’s legislature.
creating additional expense
and time.

Â¥

The Tribune

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PAGE 8B, WEDNESDAY, APRIL 2, 2008 | THE TRIBUNE BUSINESS



| WEDNESDAY EVENING APRIL 2, 2008

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Enjoy Great Food, Prizes and Lots of Fun.

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BAHAMAS EDITION



Patricia
Johnson

ttt

Challenging ‘art
experiences’
SEE ‘THE ARTS’

STE
TPO Te

Ss

Naa SS

4239 unlicensed firearms



Police reveal
gun statistics

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

THE Firearms Licensing Sec-
tion of the RBPF is trying to
get a handle on the more than
4,000 unlicensed firearms in The
Bahamas. ,

Statistics reveal there are
4,233 unlicensed firearms in the
country, an offence punishable
by 12 months imprisonment
and/or a $300 fine.

Firearm licences expire annu-
ally on December 21 but a 14-
day grace period is extended
after the expiration date, Asst
Supt Clifford Ferguson said at a
press conference at the Criminal
Records Office en Tuesday

attended by ASP Walter Evans
and Woman Sergeant Rena
Major.

Any person who fails to re-
license their firearm within the
time-frame is in breach of the
Firearms Act and subject to a
penalty, he added.

“Any person who is found in
possession of an unlicensed
firearm is subject to imprison-
ment of 12 months or a $300
fine...or both”, ASP Ferguson
said.

Under current Bahamian law,
shotgun or rifle licences are
granted for hunting or bird-
shooting purposes — not for
personal safety, ASP Ferguson

SEE page eight

MP: Mona Vie issue more than
an ‘administrative oversight’

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

SEEKING to set the record straight, PLP MP for St Thomas More
Frank Smith responded to Monday’s editorial in The Nassau Guardian,
calling the Mona Vie scandal more than an “administrative over-

sight”, as the editorial suggested.

’ Mr Smith has pushed the debate over the Mona Vie juice drink
and has called for the resignation of the FNM Minister of State Zhivar-
go Laing for intervening in, and lowering, the tariff rate at the request

of his brother, Tyrone Laing.

In a statement issued yesterday from the PLP, Mr Smith outlined
“the facts” showing that Mr Laing had erred on at least three separate

accounts.

He claimed that he failed to recuse himself as was appropriate

because relatives were involved.

He alleged that his personal conduct throughout the relevant peri-
od has not been consistent with standards expected of a Minister,

SEE page eight



ASP CLIFFORD FERGUSON spoke to the media yesterday updating them o on ane tears issue. To his righ





is Inspector Rodney Williams and to his left is Sgt.:Rena Major.

aR mS TATA



Visitors warned not to communicate

with testifying Election Court witnesses



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

VISITORS at the Election
Court have been warned by
Senior Justice Anita Allen not
to communicate with any wit-
ness who is testifying.

Fred Smith, Zhivargo Laing’s
lead attorney, raised an objec-
tion yesterday suggesting that
someone in the gallery might
have assisted Fred Moss, a wit-
ness for Pleasant Bridgewater,
in remembering a name while
he was in the witness box.

Mr Moss, who is a veteran





campaign manager for the PLP
in Grand Bahama, was attempt-
ing to remember the name of a
Luxson Tellis, when he looked

- down from the stand before say-

ing the name.

It did not appear that anyone
assisted him with hi$ answer,
but Mr Smith raised the objec-
tion and the senior justice
warned the court. Visitors, she
said, are to make no comments,
and any attempt to assist a wit-
ness with testimony amounts to
contempt.

Mr Moss, who is currently a

SEE page eight

South Seas developer

â„¢ Tim Clarke/Tribune staff

Police drag
naked vagrant
man through

Rawson Square

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

TRAFFIC briefly came to a
halt yesterday morning on Bay
Street as police dragged a naked
vagrant through Rawson
Square and down Bank Lane
while motorists, passersby and
tourists watched the spectacle.

When The Tribune arrived in
the Square at 11.30am, two offi-
cers were attempting to take the
man, who appeared to be in his
40s into custody. He refused to
cooperate, however.

As the officers attempted to
escort him to Central Police Sta-
tion, without handcuffing him
— they were merely guiding him
by his pants — he repeatedly sat
in the southern lane on Bay
Street, just in front of Queen
Victoria’s statue.

After repeated efforts to take
the man to the station peace-
fully, he became more agitated

SEE page eight

No significant changes
in staff at resorts
despite predictions
of a ‘soft summer’

@ By KARIN HERIG
Tribune Staff Reporter

kherig@tribunemedia.net

DESPITE predictions of a
“softer summer” for Bahamian
hotels, operators of New Prov-
idence’s largest resorts said that
so far there have been no Sig-
nificant lay-offs and work weeks
have not been cut short in any

Burnt corpse believed to
be connected to house fire
@ By TANEKA THOMPSON

Tribune Staff Reporter
tthompson@tribunemedia.net

unprecedented manner.

Both Atlantis and the Baha
Mar Cable Beach Resorts told
The Tribune that although they
are preparing for any possible
affects on the Bahamas’ tourism
industry from the downturn in
the US economy, no significant
changes in staffing have been
made at this time.

As the Bahamian economy
braces for the impact of a pos-
sible recession in the US, many
employees in the hotel indus-
try fear that their work weeks

_ could be cut down by as much
as two or three days.

Senior vice-president at
Kerzner International in charge

SEE page eight

moves to assure public

SOUTH Seas developer Tennyson Wells
assured the public yesterday that the gated com-
munity, which is planned for the southern end of
New Providence, has met all request require-
ments of both the BEST Commission and the
Ministry of Works.

In fact, Mr Wells, who once served as a Min-
ister and Attorney General in the previous FNM
government, said he was “surprised” to read of
North Eleuthera High school caught fire, Assis- the concerns of the Millars Creek Preservation
tant Superintendent Walter Evans said Tues- Group in the Nassau Guardian yesterday.
day. In a statement from Emmanueal McKenzie,

Reports from the island indicate the fire start- the head of the Millars Creek group, Mr McKen-
ed around | am Saturday. zie claims that Mr Wells and his investors have

Witnesses told police they saw a man flee the continued to destroy a vast portion of Millars

SEE page eight SEE page eight

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PAGE 2, WEDNESDAY, APRIL 2, 2008

THE TRIBUNE





ATES UCM De EEL

TT CCT RLU

POLICE Fire Branch officers spent the bet-
ter part of Monday fighting a bush fire which
raged in the area of Carmichael Road near the
approach to the Bacardi Factory.

Corporal 368 Delancy told The Tribune that
the officers arrived on the scene at around noon
on Monday, and after they were unable to extin-
guish the blaze, had to call for a back-up team to
assist them.

When he spoke to The Tribune at around
4pm, Cpl Delancy said his fire truck had already
made four trips for its 1,000 gallon water tank to
be refilled.

He said that between seven and nine acres of
bush had already been consumed by the fire.

According to Cpl Delancy, such bush fires
are an everyday occurrence at this time of year,
and Monday’s blaze was not a particular cause
for concern, as it did not threaten any homes.

He said that his team was unable to extinguish
the fire, but was able to get it under control
and encourage it to travel in a direction which
would allow it to burn out. ;

Cpl Delancy pointed out that the Fire Branch
would benefit greatly from some additional
equipment to combat these seasonal fires,
including tractors — which could be used to cut
“roads” into the centre of the fire, giving fire-
fighters a better chance of extinguishing the
entire blaze.







TERIOS

Security guard,
on duty when
businessman was
killed, testifies

Valentino Allen
says he has been
left scarred by
the incident

m By NATARIO
McKENZIE

A SECURITY guard on
duty at the Bank of the
Bahamas the day business-
man Keith Carey was shot
and killed gave his account
in court of how incident took
place.

Valentino Allen, the only
prosecution witness to take
the stand yesterday, told the
court that has been left
scarred by the incident.

“Up to this day I can’t see
myself doing any more secu-
rity work,” he told the court.

Allen testified that he
began working as a security
guard at the Bank of the
Bahamas located on the
Tonique Williams Darling
Highway only two or three
weeks prior to the incident.

The witness, who was 19-
years-old at the time, told the
court that he worked for
Maximum Security and was
posted at the bank’s main
entrance.

The witness told the court
that around 10.50am on Feb-
ruary 27, 2006, he saw the
victim pull up in a blue Nis-
san hatch-back, then watched
a gunman wearing a white
shirt, blue jeans and a orange
cloth around his nose exit a

He testified that the gun-

man had exited the back seat
of the car and was one of
three persons in the vehicle,
along with the driver and a
front seat passenger.

The witness told the court
that after Carey fell to the
ground, the shooter took the

bag the victim had been car- |

rying and fled the scene in
the car.

Allen testified that the
entire incident took place
within a minute or two.

He told the court that he
heard two shots but that
there could have been more.

Allen said that Carey crept
up the stairs leading to the
bank’s entrance crying out
for help.

He said that Carey made it
up to the top of the stairway
before he collapsed. Allen
said that at this point he con-
tacted his command centre
to inform them of what was
happening.

During: cross-examination

white Nissan Maxima,
approach Carey and shoot
him.

Allen told the court that the
gunman appeared to be
between five foot seven and
five foot eight inches tall, dark
skinned and of medium build.

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a







by attorney Craig Butler,
who is representing Jamal
Glinton, one of the accused
men, Allen said that he was
interviewed by police follow-
ing the incident and gave
them a statement which he
signed but did not see again
until several days later.

Mr Butler suggested that
the first time he had seen the
statement was a few days
ago. Allen however denied
this suggestion.

Mr Butler also suggested
that following the shooting,
the witness told police that
he had seen the gunman exit
the vehicle from the front
passenger seat but had told
the court that he had seen
the gunman exit the back
seat. a

Allen said that he told the
court the same thing he had
told police and that the
police may have made a mis-
take in recording his state-
ment. a hs

Mr Butler then asked.the
witness why he.had not
brought this to the attention
of the police and went on to
suggest to the witness that he
was lying. Allen denied that
he was.

Attorney Romona Far-
quharson, who is represent-
ing the accused Sean Brown,
also attempted to point out
inconsistencies between
Allen’s statement to police
and his testimony in court
yesterday.

Ms Farquharson said that
the witness had told police
that he could not see how
many people were actually in
the car. Allen however
denied this assertion.

The murder trial of the
two men opened last Thurs-
day before Justice Stephen
Isaacs.

Jamal Glinton and Sean
Brown are also charged with
armed robbery and conspira-
cy to commit armed robbery.

Vaughn Carey, a cousin of
the victim, is charged with
conspiracy to commit armed
robbery.

Prosecuting the matter is
deputy director of Public
Prosecutions Cheryl Grant-
Bethel. She is assisted by
Stephanie Pintard and Eucal
Bonaby.

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THE TRIBUNE

WEDNESDAY, APRIL 2, 2008, PAGE 3



© In brief

Developers
donate money
to anti-crime
organisation

THE Albany developers have
announced the donation of
$50,000 to the organisation
Bahamas Against Crime.

“This cheque serves as the
first instalment in Albany’s
overall commitment of $100,000
to BAC,” said the company in a
statement.

Bahamas Against Crime was
established in 2007 by Rev CB
Moss and is working with inner
city communities to fight crimi-
nal activity.

Fire officers
find 35 live

rounds of
ammunition

AT AROUND 9am on Mon-
day, officers from Fire Services
Division discovered 35 live
rounds of ammunition in the
East Bay Street area, police
said.

Assistant Superintendent of
Police Walter Evans said the
officers received a public tip
leading them to East Bay Street
where they found ammunition
outfitted for high-powered
weapons.

The rounds were confiscated,
however, no arrests have been
made in connection with the
discovery, ASP Evans said.

Retired Police
Officers group
seeking new
president

THE Retired Police Officers
Association will hold a nomi-
nation ceremony for a new pres-
ident this Friday.

Nominations to fill the vacan-
cy will be held April 4 at the
association’s office at the RBPF
héadquarters on East Street
between 9am and 12pm.

Former president Errington
Rahming died in January after a
long record of service.

A bodyguard of former prime
minister Sir Lynden Pindling
for two decades, Rahming also
served as a superintendent of
police.

The association was formed
in late 2003 by former police
commissioner Paul Farquhar-
son to build a closer bond
between retired officers and to
provide additional benefits for
members.

OVERSEAS NEWS
Drug lord
jailed for 30
years in Brazil

@ SAO PAULO, Brazil

A reputed Colombian drug
lord whose cartel is accused of
having shipped hundreds of
tons of cocaine to the United
States was sentenced yesterday
to more than 30 years in prison
in Brazil for crimes commmit-
ted in that country.

Juan Carlos Ramirez Abadia,
who was arrested last year in
Brazil, was found guilty of mon-
ey laundering, corruption, con-
spiracy and use of false docu-
ments in this South American
country. Besides the sentence,
Ramirez Abadia must also pay
a fine worth $2.5 million.

“Tt was proved that after July
of 2004, Juan Carlos Ramirez
Abadia has channeled his busi-
ness in Brazil mainly toward the
acquisition of properties, vehi-
cles, and other objects using the
money resulting from drug traf-
ficking in Colombia,” Judge
Fausto Martin de Sanctis said
in a statement.

But Ramirez Abadia, who is
also known as “Chupeta” or
“Lollipop,” may not have to
serve time in Brazil.

Last month, Brazil’s Supreme
Court ruled he can be extradit-
ed to the United States to face
racketeering charges. President
Luiz Inacio Lula da Silva will
have the final word on whether
he stays in Brazil to serve his
sentence or is extradited imme-
diately to the United States.

In his ruling, the judge
advised against extraditing
Ramirez Abadia until he has

served his time in Brazil.

HARL TAYLOR/THADDEUS MCDONALD KILLINGS

Police chief urged
to update public on
murder inquiries

POLICE Commissioner
Reginald Ferguson is being
urged to “update” the public
on inquiries into the murders of
known homosexuals Harl Tay-
lor and Dr Thaddeus McDon-
ald.

The call has come from Bish-
op Simeon Hall, whose open
letter to Mr Ferguson claims
that many people are drawing
“uncomplimentary” conclu-
sions about the police.

However, Police Commis-
sioner Ferguson told The Tri-
bune yesterday that the inves-
tigation continues and pointed
out that in a capital offence,
there is no statute of limitations
so at no point in the foresee-
able future would this case be
closed.

“We continue to explore all
information about the case but
are not in the position to make
any arrests. If any member of
the public has information to
share they should come for-
ward,” he said.

Handbag designer Harl Tay-
lor and College of the Bahamas
senior lecturer Dr Thaddeus
McDonald were both savagely
murdered last November.

Dr McDonald was clubbed
to death with a clothing iron at
his home in Queen Street, and
Mr Taylor was brutally stabbed
at his West
Hill Street

Bishop-sends open letter to
Commissioner Ferguson



TaN


















home,

Mountbat- . A

ten House, “I believe that it

some hours is crucial for fam-

gee fae ilics of murdered =

still unable Peagcustuomcemeeyeteree SES Fone
to say ue to hold faith in Sau: ehealdl
whether the the police so that always know)

killings are
related, and
no-one has

been be more
ae warm bearable.”
ar.

Bishop
Hall, of New
Covenant
Baptist
Church, tells Mr Ferguson in
his letter: “You might know
that there are very many peo-
ple in the community who are
coming to their own conclu-
sions, some of which happen
to be most uncomplimentary
as regards to police compe-
tence and integrity.”

He adds: “Please believe me
when I tell you that I write in a

veto orbbe Mey mem Ont
loved one might



eae
Bishop Simeon Hall

what some con-
cerned citizens
are saying.”

Praising Mr
Ferguson for
doing “a stellar
job”, Bishop
Hall nonethe-
less states that
some officers “do leave much
to be desired”.

And he draws attention to
“prieving Bahamians” whose
sons, daughters, neighbours,
family and friends had been
brutalised, some of them killed.

“In recent times, while the
police have assured us that they
are doing everything in their
power, there remains a persis-
tent tale to the effect that the

Thaddeus McDonald



same police are somehow and
for some reason involved and
complicit.”

In some instances, says the
Bishop, there is a suggestion
that police have solved some
cases, but are prevented from
naming names.

“It is in this spirit I hereby
entreat you — in the holy name
of Jesus — to step forward and
address some of the issues
implied and stated in these con-
cerns of mine and in light of
what so many other Bahami-
ans are saying.

“Even now, some of them
are losing confidence in the
police. I believe that it is crucial
for families of murdered vic-
tims to continue to hold faith in
the police so that the pain of a
lost loved one might be more
bearable.”

Referring specifically to the
McDonald-Taylor case, Bish-
op Hall tells Mr Ferguson: “I
believe it is important that you,
sir, update the public as to
where your investigations are
in these matters.”

Twelve weeks after the dou-
ble murder, The Tribune’s
INSIGHT section said concern
was growing that a “cover up”
was underway because of high-
level gay activities in the police
force itself.

It suggested that an influen-
tial gay network in Nassau was
probably trying to keep the
case under wraps because of
possible exposure of prominent
names.

Signing of $25m contract for
new Eleuthera power station

MINISTER of State for Util-
ities Phenton Neymour
announced yesterday the sign-
ing of a $25 million contract for
the installation of a new power
station in Hatchet Bay,
Eleuthera.

The contract, which was exe-
cuted by Frederik Gottlieb on
behalf of BEC, as a result of
months of negotiations and
review, is with the company
Man Diesel.

The signing of the contract is
consistent with a number of
upgrades and installations in the
Family Islands planned by the
government, BEC said in a
statement yesterday

The power station will con-
sist of four MW diesel genera-
tors and will be capable of pro-
viding power to all of Eléuthera,
it said.

“Commercial power will be
provided before summer 2009.
All residents of Eleuthera and
in particular residents of Har-
bour Island, will be better
served as the new plant will be
more reliable and efficient. This
will also allow for the decom-
missioning of the power station
that is presently in Harbour
Island,” BEC said.

Mr Neymour said this is one
of a number of steps included in
the strategic plan of the corpo-
ration to improve its delivery
of service to customers in
Eleuthera. -

Other planned works include
the upgrade of overhead line
circuits (the north feeder which
supplies North Eleuthera),



Phenton Neymour
installation of another subma-
rine cable to Harbour Island
and transformer upgrades,” he
said.

“Training of staff will also be
a fundamental component of
the planned works as the cor-
poration proceeds to strengthen
its human resources at all lev-
els,” said BEC.

This announcement follows
sustained complaints by Har-

ia
i)

FOR PEST PROBLEMS
PHONE: 322-2157



bour Island residents who say
constant power outages are
affecting their tourism industry.
The residents, who claimed
the problem was particularly
bad over the Easter weekend,
said they were planning to hold
a “peace rally” in an effort to
bring attention to the issue.

Finan

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from people who are
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neighbourhoods. Perhaps
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good cause, campaigning
for improvements in the
area or have won an

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

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PAGE 4, WEDNESDAY, APRIL 2, 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, P.O. Box N-3207, Nassau, Bahamas
Insurance Management Building., P.O. F-485, Freeport, Grand Bahama

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager - (242) 502-2352
Circulation Department - (242) 502-2387
‘Nassau Fax: - (242) 328-2398
Freeport, Grand Bahama: 1-(242)-352-6608
Freeport fax: (242) 352-9348

Making a mountain out of a ‘Mona Vie’

WE DECIDED not to enter into the so-
called Mona Vie “scandal” until we had heard
all sides of the argument and could judge for
ourselves whether St Thomas More MP Frank
Smith had a tiger by the tale or a wee mouse.

Last week The Nassau Guardian did a ran-
dom survey in which a handful of Bahamians
considered that a mountain was being made
out of a mole hill. Since then we have talked
with many people, who, like ourselves, thought
at first that Mr Smith might have been onto
something, only to find that the tiger has dis-
appeared and the MP has been left holding a
tiny mouse by the tail.

And so we were surprised at the report in
Monday morning’s Tribune that Mr Smith was
still swinging his little mouse and taking up
radio air space Sunday afternoon to regurgi-
tate his FNM “scandal”. Our advice to Mr Smith
is to let the poor little “beastie” go while he’s
still got a bit of a squeak left in him. There are

_ far bigger political prey out there for Mr Smith
to get his teeth into — especially if the object of
his exercise is to shed his lightweight status and
transform himself into a political heavyweight.

The Mona Vie conflict-of-interest-nepotism
accusations were launched in the House in mid-
February when Mr Smith questioned State Min-
ister for Finance Zhivargo Laing about his
alleged involvement in lowering Custom’s duty
on the Mona Vie fruit crink sold by his sister-in-
law. He accused Mr Laing of using his position
to instruct the Comptroller of Customs to low-
er the tariff on the drink from 45 per cent to 10
per cent and called for the Minister’s resigna-
tion. Of course, the Comptroller’s decision not
only affected Mr Laing’s sister-in-law, but many
other vendors who sold the same drink. Like-
wise their customers, who now had to pay more
for the liquid refreshment.

On March 10, Mr Laing explained to the
House what had transpired from the time his sis-
ter-in-law made a formal complaint in writing to
the Comptroller of Customs in September 2007
questioning his decision to change the duty on
the juice previously imported by her and other
vendors from the rate of 10 per cent to 45 per
cent. In October, 2007 the Comptroller in a let-
ter of reply said that while the department was
conducting a review into the classification and
rate of duty of the product, the vendor should
continue to apply the rate of 10 per cent. In
other words, the rate was already 10 per cent.
Mr Laing had nothing to do in setting that orig-
inal rate. The question arose when the Comp-
troller raised the rate to 45 per cent and was
then instructed to return it to its original rate of
10 per until the matter could be dealt with dur-
ing the budget process.

On March 10 Mr Laing told the House that
the Secretary for the Revenue contacted the











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Customs Department in Freeport on the issue ~

last year. The Revenue Secretary was told by
Customs that the rate had already been
increased to 45 per cent.

The Revenue Secretary told Customs that it
was not normal practice to change a rate of
duty in mid-year thereby affecting the cost of
doing business without notice. The Secretary
instructed the Customs Department to let the
lower rate of 10 per cent remain until budget
time, which was the usual practice. The matter
would then be considered when the budget was
under revue.

Despite these instructions, the Comptroller
of Customs wrote to Mr Laing’s sister-in-law in
November informing her that the World Cus-
toms Organisation had said that the fruit drink
should be under a different classification. This
classification would attract the 45 per cent rate
of duty. He then increased the duty.

Surprised that the Comptroller would take
such action without reference to the Ministry of
Finance and after the Secretary of Revenue
had already given instructions to allow the duty
to remain at the lower rate until budget time,
Minister Laing discussed the matter with the
Financial Secretary and the Secretary of Rev-
enue who both agreed that changing the rate of
customs duty on imports mid-year was unusual.
It was agreed that the rate should remain at 10
per cent until the 2008/09 budget. And so the
original 10 per cent duty remained. Nothing
seemed amiss in this procedure.

However, the dispute escalated when the
Comptroller, now in retirement, in a press inter-
view declared that putting the fruit drink in the
wrong classification was both “improper” and
“illegal”.

Mr Ingraham, as Minister of Finance, then
told the House that only the Minister of
Finance, not the Comptroller of Customs, can
legally determine the rate for customs duty. He
said that Mr Laing, as Minister of State for
Finance, had the legal authority to do what he
did. He said Mr Laing was acting within the
authority he had delegated to him.

This seemed to end the matter, unless, of
course, Mr Smith’s argument is that the Comp-
troller of Customs has more authority than the
Finance Minister in deciding this country’s tar-
iffs.

The matter, as outlined seems simple,
straightforward and sensible. Mr Smith has
insisted that Mr Laing has not told the full sto-
ry. Maybe he hasn’t told the story that Mr Smith
is anxious to hear. However, if there is more to
the story, then Mr Smith, please stop the guess-
ing game. Let us in on your secret. You tell the
story. But unless you can give a more convinc-
ing account than Mr Ingraham, for heaven’s
sake, let the little mouse go.



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Misleading

comments

about bank
lending terms

EDITOR, The Tribune.

AS reported in the March
10, 2008 issue of The Bahama
Journal, former Chairman of
the Bahamas Electricity Cor-
poration (BEC), Mr Alfred
Jarrett, made a number of
statements that are mislead-
ing regarding the Inter-Amer-
ican Development Bank’s
lending terms.

It is a fact that in 2003 the
BEC decided to prepay its
four loans with the Inter-
American Development Bank
(IDB) for a Rural Electrifica-
tion Programme for the Fam-
ily Islands.

At the time of prepayment
the weighted average interest
rate of the loans was 6.21 per
cent.

The first of the four loans
was approved in 1988. During
that period, the IDB offered
fixed rate loans from a Cur-
rency Pooling System (CPS)
set at 8.3 per cent, which was
comparable with prevailing
market rates at that time.

The ensuing two loans
approved in 1991 under the
CPS carried a six-month
adjustable rate, which at the
time of prepayment was 4.85
per cent.

The fourth loan approved
in 1996 under the US Dollar
Single Currency Facility
(SCF), also had a six-month
adjustable rate, which was 4.96
per cent at the time of pre-
payment.

To cancel the four loans,
BEC borrowed: short-term
from commercial banks.

It is unfair and inaccurate






OBIS

letters@tribunemedia.net

to contrast the interest rate on
a 20-year loan obtained in
1988 with the short-term (five
years) loan obtained in 2003,
when the London Inter-Bank
Offer Rate (LIBOR) was at
an all-time low.

It should be noted also that
all four loan agreements
allowed for advance payments
without any penalty or cost
reimbursement to the IDB.

The Bank’s lending rates
reflect our cost of funds, which
have always been in line with
those prevailing in the inter-
national market for triple-A
rated borrowers plus a stan-
dard spread, currently 0.15
percent — certainly not a mar-
gin that fits Mr Jarrett’s char-
acterization of the Bank.

The Journal article actually
quoted him as saying that
back in the 1980s those loans
were “a good bargain.”

The lending products of the
Bank have continually
evolved with the market and
with our borrowers’ needs.
For example, in the second
half of 2007, the interest rate
that the Bank charged to its
sovereign borrowers under the
LIBOR-based lending prod-
uct was actually below
LIBOR.

Additionally, countries that
work with the IDB have
access to other benefits.

The Bank’s development

knowledge, technical exper-
tise in various sectors, and
project development and exe-
cution expertise are integral
to the projects it helps to
finance.

These benefits are absent
from private capital market
issues.

The IDB was founded in
1959 to support the economic
and social development of its
Latin America and Caribbean
member countries.

It is owned and directed by
its member countries and has
grown from an initial mem-
bership of 19 countries, to 47
members currently.

The Bahamas became a
member of the Bank in 1977
and is ably represented on the
Board of Executive Directors
of the Bank.

The 47 member-country
shareholders of the IDB
would never allow the terms
of its loans to be either exces-
sive or punitive.

To the contrary, the IDB
has consistently sought to be a
partner for progress for the
countries in Latin America
and the Caribbean.

We remain committed to
supporting our members in all
“seasons” as a supplier of
affordable financing for sus-
tainable development in the
region.

OSCAR E SPENCER
IDB Representative
in The Bahamas

Nassau,
March, 2008.

Should Bahamian design be an
essential for tourism projects?

EDITOR, The Tribune.

BASICALLY there is no
such architectural design or
vernacular which is uniquely
Bahamian — what we have
and what has since the 1700s
attracted visitors and future
settlers is the distinctive New
England style of architecture
coupled with the use of pastel
shades. Unique in the natural

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island setting.

Many argued when Carni-
val introduced what many
describe as ‘ugly’, the ‘cruise-
line style’ of The Crystal
Palace on Cable Beach and
also the unoriginal design of
Atlantis which is probably

more of a style one would find’

in Morocco than anywhere
else.

To my eye Town Planning is
making a drastic mistake and
is the cause of the loss of the
beauty of our adopted New
England style architecture
which you no longer see and
should be a high priority if we
wish to retain some sort of
connection with the why peo-
ple actually wish to visit.

As is already said to visitors
to Key West - Welcome, you
will see here the best of Colo-
nial architecture in a clean
environment!

Christopher Anan Co-Chair
of The Albany Development

Company indicated that the
architectural design of the
Apartment buildings, etc, the
centre-piece of their multi-mil-
lion dollar mega Marina was
‘inspired’ by New York and
London architecture.

I ask what some might think
is flippant or even stupid —
then Mr Anan why build
something in The Bahamas
which is obviously not
Bahamian?

I sincerely hope that a Cab-
inet directive will be given to
ensure that Bahamian Archi-
tecture will be the principal
theme of all projects in the
future and should include
Albany.

The next thing someone will
want to do is to build a replica
of the Tower of London or
Big Ben in Rawson Square!

K MINNS
Nassau,
March 20, 2008.

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THE TRIBUNE

WEDNESDAY, APRIL 2, 2008, PAGE 5



blamed on San

LOCAL NEWS

Delaporte Beach degradation

@ Residents say that damage will continue
because canal was cut through the beach

The following is part of a series
of articles about beach erosion in
Nassau due to construction in the
coastal zone. Information and
photos are provided by citizens
who have documented damage
to beaches for more than 15

years.

PHOTOS:

Beach erosion/
NE VICMM NO Mmernat es tity





A NOVEMBER 2004 photo shows
sand removal in progress after
extensive canal dredging. Large
quantities of sand were trucked
into Sandyport for construction of
artificial beaches.

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

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





ANDYPORT is a
residential commu-
nity that was estab-
lished in 1989 with
the construction of a canal that
was built through the middle of
Delaporte beach to create the
Sandyport canal system.

Today, almost 20 years later,
photos show that the negative
environmental and social
impact of building the canal
through the beach is still being
felt along this stretch of coast-
line. The beach has been severe-
ly eroded in places and, accord-
ing to residents, tons of sand
have been removed from the
coastal system since 2004 when
residents started photograph-
ing and documenting Sandy-
port's dredging activities.

It should be remembered
that the canal was cut through
the beach despite concerns
expressed by citizens. Since
then, the channel, along with
the jetties that extend out into
the sea, has restricted access
along the beach.

Since the canal was built,
sand from the beach and sur-
rounding coastal area has filled
into the canal, requiring peri-
odic dredging to keep the
entrance clear. According to
residents, "If the canal were not
dredged, it would soon fill in
with sand, and the beach would
be allowed to repair itself."
Residents estimate that, even
since 2004 alone, Sandyport has
removed enough sand to restore
the entire beach several times
over.

In 2005, a representative for
Sandyport confirmed that the
developer had been using sand
from the canal to build beaches
in Sandyport (Sandyport has
built a large beach near their
hotel in the lagoon, and sells
residential lots with artificial
beaches as beachfront lots).

Also in 2005, residents of
Delaporte noticed erosion along
the entire length of the beach
on both the western and eastern
sides of the canal.

In an effort to halt this ero-
sion, residents consulted a
coastal engineer who said the
Sandyport canal should not
have been built through the
beach.

He confirmed that the sand
being removed from the coastal
system through canal dredging
contributed to the erosion.

He advised that the sand that
was being removed from the
canal should be returned to the
beaches, free of rocks and
debris. He added that restoring
the dunes and planting them
with Sea Oats and other salt-
tolerant plants would help bind
the sand and restore the beach.

The engineer also urged res-



SAND DREDGING operations in Sandyport canal in Ma

-

Ratan EROSION: A February 2005 photo shows extensive ae on Mr



BEFORE EROSION: A September 2003 photo shows a portion of Delaporte

beach before it was eroded.

idents to notify the relevant
government agencies responsi-
ble for controlling the mining
of sand and the issuing of dredg-
ing permits: the Ministry of
Works and Utilities and the

. Department of Lands and Sur-

veys.

The residents of Delaporte
have documented Sandyport’s
canal clearing operations since
2004, with supporting pho-
tographs, and sent this material
to The Prime Minister’s Office
and Cabinet (current and for-
mer), the Ministry of Tourism,
the Ministry of Works & Utili-
ties, the Department of Physical
Planning, the Department of
Lands & Surveys, the Port
Department and the BEST
Commission.

Since 2004, sand has been
observed being removed from
the canal in October 2004,
November 2004,
February/March 2005, May
2006 and September 2006. Dur-
ing this period, tons of sand
were trucked to Sandyport.

According to residents liv-
ing in the area, the damage to
Delaporte beach and the nearby
coastal system will continue
indefinitely because the canal
was cut through the beach.
Despite the developer’s assur-
ances that they had conducted
environmental studies, the
degradation of the beach is
there for everyone to see. The
canal should never have been
cut through the beach.



weet.



a; SSeS}

rch 2005. The

large piles of sand were later trucked into Sandyport.



dyport Canal

@ Access along beach is restricted by canal
jetties

sh.





“If the canal
were not
dredged, it
would soon fill
in with sand,
and the beach
would be
allowed to
repair itself.”







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at

r 2006 show Delaporte Point and the
Sandyport development. The photo shows the natural beach that was cut
in half by the canal, a large artificial beach in the lagoon, artificial beach-
es on Sandyport canal lots and a large accumulation of sand in the
Sandyport canal.

AERIAL photos fro








PHOTOS of Delaporte Beach erosion/Sandyport dredging

- taken by residents of Delaporte Point



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PAGE 6, WEDNESDAY, APRIL 2, 2008

THE TRIBUNE



© In brief

NASA says that
thousands

could lose jobs
after the shuttle
programme ends

@ MIAMI

MORE than 8,000 NASA
contractor jobs in the nation’s ;
manned space programme :
could be eliminated after the ;
space shuttle is retired in 2010, :
the agency said Tuesday, :

according to Associated Press.

The number of civil servants :
is expected to remain roughly :
the same, but dramatic job :
cuts are possible among pri- :
vate contractors as NASA :
transitions to the Constella- :
tion program, which is devel- i
oping the next-generation }
vehicle and rockets to go to }

the moon and later to Mars.

Constellation isn’t sched- :
uled to begin flights until 2015. :

Bill Gerstenmaier, an asso- :
ciate administrator for the :
space agency, cautioned that :
the estimates of job losses :
were preliminary and don’t :
~ take into account numerous }
factors of potential workload. :
“Don’t overreact to these :

numbers,” he said.

But NASA also acknowl- :
edged job losses could fluctu- :
ate depending on who’s occu- :
pying the White House next }
year and their support for }

space exploration.

The bleakest forecast was :
issued for the flagship ;
Kennedy Space Center at :
Cape Canaveral, Fla., where :
just 1,600 to 2,300 employees :
were expected to remain in :
2011, a cut of up to 80 percent :
from its current 8,000 work- :

ers.

1,300 of its 1,900 jobs.

“Our greatest challenge :
over the next several years will :
be managing this extremely :
talented, experienced and geo- :
graphically dispersed work- :
force as we transition from :
operating the space shuttle to :
utilizing the International :
Space Station,” the report :

said.

employed.

The Michoud Assembly
Facility near New Orleans was :
forecast to lose as many as }

Nationally, NASA said the ;
number of full-time civil ser- :
vants in its manned space pro- :
gram would fall to about 4,100 :
in 2011, a loss of about 600 :
jobs from this year, Including :
outside contractors, the num- :
ber of jobs would fall to an :
estimated 12,500 to 13,800. :
About 21,000 are currently }

Pilot searches for wartime

A FORMER country vet with
a passion for flying has arrived in
the Bahamas to search for a small
wartime aircraft he was forced to
crash-land into the sea six weeks
ago.

The 1943 Piper Cub, once
reportedly used by the famous
American military chief, General
George Patten, went down
between the Dominican Republic
and Turks and Caicos in mid-Feb-
ruary.

British pilot Maurice Kirk had
no choice but to ditch the two-
seater when the engine stopped
during a solo flight around the
world.

“Miami control didn’t seem to
believe me when I told them I
was going down,” 63-year-old Mr
Kirk told The Tribune yesterday.

“I told them I had no engine
and that I was going to get my
feet wet.”

In fact, Mr Kirk ditched in
extremely deep water, then
scrambled clear before being res-
cued by the US Coast Guard. The
plane floated for two hours
before going under. “I was very
cold,” he said, “I want to buy
them (his rescuers) a beer.”

Mr Kirk is now back in Nas-
sau with another small aircraft
with the intention of scouring the
coastlines of Acklins and Inagua
in the hope of finding what’s left
of his beloved plane.

“T have taken expert advice
and studied the currents in the
area, and have concluded that the
plane is likely to wash up on one
of those two islands,” he said.

“T am not particularly confi-
dent of finding her, but I have to
give it a go. Iam very attached to
her.”

The US-built Liberty Girl, as
the plane is called, was used dur-
ing wartime to fly messages
between tank regiments and was
designed to land in ploughed
fields.

It was involved in wartime
action just after D-Day in 1944.

. Mr Kirk has owned the plane
for nearly 30 years and kept it in
a 600-foot long field in South
Wales.

He credits his survival on the
Piper Cub’s ability to fly and land
at very low speed. It cruises at
75mph “with a top speed of about
80,” he laughed.

“It is the most famous Ameri-
can aeroplane because it draws
nostalgia from TWA pilots and
the like, who all learned to fly in
them.

“They only went out of fash-

‘ion in the 1960s. But I have a

strong attachment to mine, and


‘ 5
ee eee 8

aircraft he had to crash-land

BRITISH PILOT Maurice Kirk is now back in Nassau with the intention of scouring the coastlines of Acklins and Inagua.

Lands and Local Government
staff take part in one-day
‘enrichment seminar’

if I don’t find her, Pll have a repli-
ca built.”

The former stunt pilot was on
his way from the Dominican
Republic to Providenciales in
Turks and Caicos when the
engine stopped.

“T was at about 4,500 feet and
just drifted down,” he said,
“Unfortunately, it, was in very
deep water and my hopes of find-
ing her are only 10 to 20 per
cent.”

The grey fuselage plane had
crashed before - in Japan - and
took part in the 2001 London-
Sydney Air Race before Mr Kirk
embarked on his solo adventure
round the globe.

Mr Kirk believes that, if he
finds the wreck over the next few
weeks, there is still time to save
the engine, though the wings are
likely to have snapped off in the
tides once the plane reached
shallow water.

His retrieval mission is fired by
memories of the old plane, which
he discovered in “moth-eaten and
dilapidated” condition in eastern
France in 1979,

“If I don’t find her, I'll drop a
wreath of flowers over the water,”
he said.

¢ Mr Kirk’s website describ-
ing his flying adventures is:
kirkflyingvet.com

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E-mail Curriculum Vitae to: warehousemanager1@gmail.com

@ By LLONELLA GILBERT



SENIOR officers and staff
of the Ministry of Lands and
Local Government were treat-
ed to a staff enrichment semi-
nar at SuperClubs Breezes last
week.

The all-day event rounded
off the Ministry’s Awareness
Month 2008 activities.

Postal service, co-operative,
consumer welfare and the
mail boat service staff also
took part in the event.

Speakers at the event
included Acting Assistant
Commissioner of Police Hulan
Hanna, Archdeacon James
Palacious, Superintendent of
Police Stephen Dean and cer-
tified fitness instructor
Natasha Brown.

They spoke on issues such
as building bridges between
the police and the community,
ethics in the workplace and
health and fitness.

Minister of Lands and Local
Government Sidney Collie
encouraged the staff to use
the advice of the presenters
to help structure their lives.

“T expect that when you go
back to work,” Mr Collie said,
“TI will see the manifestation
of a lot of what you will be
engaged in today in your dai-



by
Yp yy,
Vy

Yoon

yy
yy) Woy

~ SCN

ATLA RCE c TC AnceI RT bie hice

ly lives and work. I expect
more enthusiasm and a more
dynamic ministry in 2008,
2009 and beyond.”

The minister also expressed
his pride in the support the
activities planned around the
Awareness Month 2008
received from staff at the min-
istry.

During the month of March,

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SO

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x x
as
Less \



Raymond Bethel/BIS

>
—_
5
oa

Awareness Month Commit-
tee, co-chaired by Bernadette
Davis-Smith and Sidney
McKenzie, co-ordinated a
number of activities including
a church service, school vis-
its, a luncheon with senior cit-
izens from around New Prov-
idence, an exhibition and an
awards ceremony and recep-
tion.

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THE TRIBUNE

WEDNESDAY, APRIL 2, 2008, PAGE 7



LOCAL NEWS



Call for duty rates change for
environmentally friendly items

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

A GOVERNMENT com-
mittee has called on the Min-
istry of Finance to consider
changing duty rates on cer-
tain products to encourage
Bahamians to become more



environmentally friendly.
The Coastal Awareness
Committee wants the gov-
ernment to allow Bahamians
to import items such as ener-
gy saving light bulbs, “green”
or reusable shopping bags,
solar lights and other solar
powered devices duty free.
A reduction of duty on the

JUSTICE crusaders Greg and Tanya Cash

Greg and Tanya
Cash set for new
attempt at Privy
Council hearing

JUSTICE crusaders Greg
and Tanya Cash are poised to
launch a new attempt to get a
hearing before the Privy Coun-
cil.

After a box” containing
dozens of legal documents was
“Jost” on its way to London ear-
lier this year, the couple faced a
massive task in preparing their
case again.

Now all they need are two
dates from the Supreme Court,
and two documents to complete
their Privy Council file.

“We have faced obstacles all.

along the way, but we are deter-
mined to see this through to the
very end,” Mr and Mrs Cash

told The Tribune. “No-one is
going to stop us.”

The couple’s six-year battle
for justice against the Baptist
educational authorities has
included a series of setbacks
before Bahamian courts, includ-
ing mislaid documents and what
they regard as “deliberate
attempts” to block their
action. -

“People are afraid of what
these documents contain,” said
Mrs Cash, “that’s why they are
so scared of what might happen
at the Privy Council.”

The couple are fighting the
Baptists on several fronts since
Mr Cash was fired as coach at

importation of fuel efficient
vehicles and a tax increase
on vehicles and boat engines
that are less environmental-
ly-friendly in their consump-
tion of energy was also advo-
cated by the committee dur-
ing their. meeting with Min-
ister of State for Finance
Zhivargo Laing and his team



Jordan Prince William High
School in 2002.

They are. alleging unfair dis-
missal, defamation and breach
of human rights in what many
Bahamians now see as a cause
celebre — a fight not only against
the Baptists, but the Bahamas
court system.

Earlier this year, Mr and Mrs
Cash were left distraught when
their carefully assembled legal
papers went missing after being
sent by a courier service to Lon-
don.

The papers have never been
found, so the couple faced the
daunting task of assembling the
documents all over again.

yesterday morning.

Their call for government
action to support their
endeavours comes in the
wake of claims in the UN’s
2007/2008 Human Develop-
ment Report on_ the
Bahamas that this country
has a level of carbon emis-
sions per person “above”
those of other Caribbean and
Latin American countries.

The report said: “With 0.0
per cent of the world's pop-
ulation, Bahamas accounts
for 0.0 per cent of global
emissions — an average of
6.7 tonnes of CO2 per per-
son... If all countries in the
world were to emit CO2 at
levels similar to Bahamas’,
we would exceed our sus-
tainable carbon budget
by. approximately 201 per
cent.”

Mr Laing, noting that the
group's suggestions are time-
ly as the government is cur-
rently in the budget process
period, said that all of them
would be looked at, but
“require broad policy con-
sideration.”

He added however that he
believes there are certain
steps that can be taken by
government “almost imme-
diately” to help reduce car-
bon emissions such as
encouraging government
ministries to use energy effi-
cient bulbs.

“Those are things that can
be done. There’s no signifi-
cant cost to the government
to do so,” he said.

The Coastal Awareness
Committee is set to meet
with nine’ government min-
isters throughout the month
of April, along with other
agencies such as the office of
the attorney general and the
police, to make what Earl-
ston McPhee, the group's
chairman and Ministry of

reeset tec men
our dermatologist.

Tourism’s director of sus-
tainable tourism, called “spe-
cific requests” relating to
how their agencies can better
support environmental pro-
tection.

The group is made up of
private and public sector
stakeholders including rep-
resentatives from the Min-
istry of Tourism, the Min-
istry of Education and the
Bahamas National Trust,
alongside persons from Dol-
phin Encounters, Stuarts’
Cove, the College of the
Bahamas and the Bahamas
Hotel Corporation.

They aim te promote “the
protection and preservation
of our most precious nation-
al resources that support the
livelihood of our people and
long term sustainability of
our nation.”

Speaking after the. meet-
ing, Mr McPhee said that he
was “very pleased” with how
it went and felt Mr Laing was
receptive to the committee’s
aims.

He emphasised that for
more Bahamians to switch to
environmentally-friendly
behaviour would equate to a
“win/win situation” consid-
ering rising energy costs.

“Bahamians can save from
a higher electricity bill with
some of this energy saving
technology,” he said.

Action to reduce carbon
emissions — both within and
outside this country — is a
subject of particular rele-
vance to the Bahamas as a
vulnerable small island state.

The Bahamas is one of the
countries expected to suffer
most from the sea level rise
which studies show is already
coming about as a result of
global climdte change, and
is largely anticipated to wors-
en. 44

A World Bank research



Coastal rT
STRAT Ces

¢ Saturday April 5:
Harbour Clean Up

Takes places from 9am
to lpm. Certified divers
interested in volunteering
should call Stuart Cove’s
Dive Bahamas. Equip-
ment will be provided to
divers without their own.
Volunteers should meet
at Malcolm Park parking
lot on the western side of
the Paradise Island
entrance bridge on East
Bay street, next to the
defence force building.



¢ Tuesday, April 8:
Lecture at College of
the Bahamas

Entitled “Threats to
coastal communities -
how vulnerable is the
Bahamas?” All are invit-
ed to attend.

e Saturday, April 12:
Yamacraw Beach
Clean-Up

This will take place
between 8am and 12pm.
All volunteers can check
in between the clean-up
hours. Tu volunteer call
Jared Dillet at 393-1014.

¢ Monday April 21
to Friday April 25:
Educational marine
exhibition at the Mall at
Marathon.

Anyone wishing to
enter the national photo
essay competition can
find out more information
at www.breef.org. The
prize is a trip to an envi-
ronmental summer camp -
in the British Virgin
Islands.



paper released in 2007
showed that out of 84 devel-
oping countries, this nation
would be the most severely
impacted in terms of land
area, with 11 per cent of the
country predicted to flood as
a result of a one metre sea
level rise.

It said 60 per cent of the
country would disappear
should a three to five metre
rise occur.

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PAGE 8, WEDNESDAY, APRIL 2, 2008

THE TRIBUNE



LOCAL NEWS

Investigation into new WANE ATC colesntucenier
an ‘administrative oversight’

case of tuberculosis

A REPORT of a new case of tuberculosis is
currently under investigation, the Ministry of
Health and Social Development confirmed yes-
terday.

In a late press release the ministry said that
screening of family members and co-workers of
the person reported to have caught the potentially
deadly disease is underway.

“Should new cases be identified through the
screening process necessary actions will be taken
immediately to treat and prevent the spread of the
disease,” said a statement..

While TB infection has no obvious signs or

symptoms, symptoms of TB disease include a ;
cough that lasts longer than two to three weeks :

and does not get better with medication.

chills.

the incidence of TB in the Bahamas.

” FROM page one

Creek with their gated com-
munity — despite assurances
that no further destruction
would be done to the area.

Mr McKenzie said that the
group will be launching a cam-
paign against the South Seas
Development Company and
those individuals guilty of ille-
gal dumping in Millars Creek
today.

However, Mr Wells claims
that the development, which
is located in the southern part
ot New Providence near the

South Seas developer

moves to assure public

: ety is greatly influenced by public

was some issue regarding the confidence that no-one is above
flow of water in the proposed : —™* °" Pee cae i
channel that is being installed, | “"°° for whoever does wrong.
Mr Wells said that a planned }
island — in the middle of the ;
channel — has been removed ! the Chairmanship of the Airport
to allow for better water flow; :
meeting the requirements of a }
BEST Commission “flush” }

with all of the relevant require-
ments of the BEST Commis-
sion and the Ministry of
Works.

AS for the claims of wetland
destruction, Mr Wells con-
tended that of the 93-acre
development, almost 18 acres
of wetland have remained
untouched, and will remain
untouched in perpetuity. —

While admitting that there

analysis.

FROM page one

Other symptoms also include coughing up : based on on outlined by his
: ener . . : $ og . sy
blood, loss of appetite, unexplained weight loss, | 80VeTâ„¢mmen".

fever, tiredness or weakness, night sweats and :

And finally, he “alleged a dere-
liction of duty for failing to act

Last week, Health Minister Dr Hubert Minnis es the i easel a aaa
announced that the government had extended : Dene ae ae ae
the provision of free anti-retroviral drugs to } P : ee

include persons affected with tuberculosis as well Minister’s defence of Mr Laing

as HIV as part of a strategy to further reduce having done “nothing wrong” as

: both “serious and amazing.

Mr Smith also called the Prime

_ “I will say more about this at

another time, but in the interim
: list the following as reasons why it
: would be in the public’s interest

for Mr Laing to resign from Cab-
inet: (Firstly) the overall mainte-
nance of law and order in soci-

the law; that there is ‘zero toler-

He recalled that Mr Brent
Symonette (Deputy Prime Min-
ister) was made to resign from

Authority for just one of the three
transgressions made by Minister
Laing. More recently the Member

: " : of Parliament for Kennedy and
‘It was finally agreed that :
the plans met with all commit- :

Keod Smith, the then Member of

Parliament for Mount Moriah
were made to resign as Chairman
of the Gaming Board and
Ambassador for the Environ-
ment, respectively, for being
involved in a fight.” Mr Smith
claimed that this was another
transgression that was “less severe
than the three transgressions of
the Minister.”

“Additionally,” he said, “a for-
mer Minister of Immigration was
forced to resign, essentially for
what was perceived as inappro-
priate conduct. This Minister
must not be treated differently
simply because he is perceived to
be a special favourite of the Prime
Minister.

“There is no creditable defence
for the minister,” he claimed,
“especially against the backdrop
of the most recent General Elec-
tions with pledges from his party
about lifting, not just maintain-
ing public standards; about
accountability and transparency;
about closing the ‘cookie jar’ and
generally about ‘trust in Govern-
ment,’” Mr Smith said.

The MP suggested that if Mr
Laing were to continue on in his
post as Minister of State for
Finance he would “shatter” the



government’s “Trust Agenda”
that they ran on in the General
Election.

“Minister Laing’s immediate
predecessors in office were James
Smith and Sir William Allen. Par-
tisan political affiliations aside,
most Bahamians would agree that
each of these gentlemen assumed
the role in the Ministry of Finance
having already earned a wide and
deep respect within the business
community at home and abroad.

“Without in any way being dis-
respectful of Mr Laing, the record
would suggest that he did not
begin his tenure with a compara-
ble degree of stature. It was his
challenge to earn it. His conduct
in this Mona Vie scandal, so ear-
ly in his tenure greatly under- |
mines his potential to achieve
that. And without it his effective-
ness as Minister will be crippled.
It is also relevant that this comes
at a time when the country’s
economy is itself seriously chal-
lenged by an obvious slow down
— circumstances which require a
minister not distracted by the
need to clear or defend his per-
sonal reputation,” the release
said.

Bacardi plant, is in keeping

Police

FROM page one

said.

weapon in a safe, ASP Ferguson said.
ground checks.
Division said.

ing Office: 10,375 of them are licensed.

licence applications received.



on Thompson Boulevard.

reveal
gun statistics

Handgun licences for personal protection are privy to Cabi-
net approval and are subject to stricter application rules.
Licensed firearm holders are required by law to enclose their

Applicants must be Bahamian citizens and the approval
process takes six to eight weeks because of necessary back-

Persons with criminal backgrounds may be considered for
approval depending on the nature of the prior offence and the
outcome of a personal interview, Sgt Major of the Firearms

There are 14,608 firearms recorded at the Firearms Licens-

Last year, the department approved 657 of the 1,125 firearm

Gun licences can be renewed at the Criminal Records Office

ments. So far as this committee :
is concerned, this guy did :
speak to us and he asked us :
for fill. There is a road to the :
north of the creek that they :
wanted to put fill in so they }
can pass on and they asked us :
for the fill. We agreed to give :
them the fill when we cut the :
channel because when they :
came to us we didn’t have any; :
and we will still give them the :
: tration and external affairs Robert Sands also

“And we also agreed to pro- :
vide for the fencing along the :
northern shore of the creek to :
stop people from going to :
dump in the creek and will :
continue to do that as well,” :

fill.

he said.

none.

The development



ging trails, and a marina.



When the South Sea devel- :
opment is completed, Mr :
Wells said the gated commu- :
nity will be one of the best sub- :
divisions in the island — bar :

will :
include, he said, a yacht club, :
, three beaches, Millars Creek, :
nature trails through the 15 :
plus acres of mangroves, jog- :

FROM page one

of public relations Ed Fields told The Tribune
that with respect to shorter work weeks, Atlantis’
industrial agreement has always allowed for
adjustments to be made with respect to occu-
pancy levels. ~

“And this has not occurred to any significantly
greater degree than it has in previous years,” Mr
Fields said.

Baha Mar’s senior vice-president for adminis-

said that while shorter work weeks are “absolute-
ly” a possibility later in the year, so far there
have been no out-of-the-ordinary reductions in
the work weeks of employees.

Mr Sands added that, as is the practice, “staffing
will meet the business demands.”

However, neither the Baha Mar or Atlantis
executives commented on how short hotel
employees’ work weeks could actually become if
the Bahamas’ tourism industry were to be hit by
stronger repercussions of America’s economic
problems later this year.

As it concerns lay-offs, Mr Sands said that he is
unaware of any having being ordered at the Baha
Mar Resorts.

At Atlantis, Mr Fields said, some restructuring
has taken place involving 20 persons in various

FROM page one

administrative positions.

“Of those 20 positions, 11 persons were offered
alternate positions in the organisation. Nine per-
sons have accepted those alternate positions,”
he said.

Mr Fields said that this exercise was one of sev-
eral efforts by Atlantis to make the organisation
more efficient.

“While we do not immediately anticipate addi-
tional activity of this nature, as in the case of
every business, we will continue to evaluate the
economic conditions within which we operate,
and react as necessary,” he said.

Mr Fields said that chairman and CEO of
Kerzner International Sol Kerzner recently met
with Atlantis executives to discuss the organisa-
tion’s preparedness in the face of the US’ dire
financial situation.

“He stressed that economic conditions in the
US have a direct financial impact on, not only
Atlantis, but the whole country and he encour-
aged all staff to continue to provide the highest
levels of

service to the tourists who are coming to
Atlantis, as this will be what gives us edge over
our competitor destinations,” Mr Fields said.

him to the end of the Square

PRESS STATEMENT

The Junkanoo Corporation New Providence Limited

off.

: and in the tussle that followed

between him and the officers,
his clothing started to come

The two officers eventually

: called for assistance on their

radios, and in a few minutes
another officer joined them.
But, the three of them were

: still,unable to subdue the man

who at this time was bare-

: backed, and pulling away

from the officers who held on

: to him by his pants.

A fourth officer then came

Naked man

him by his arms and legs, but
the man continued to kick in
resistance. At this point his
pants came off and he was
completely naked in Rawson
Square. Police attempted to
lift him to the station several
times, from this point but
were unable to do so as he
kept kicking and resisting.

“Police brutality,” was all
that was heard coming from
the man.

Officers instead, dragged

into the parking lot reserved
for Senior Justice Anita
Allen in Bank Lane. From
here, the man was lifted a
short distance before being
dragged naked down the road
in front of the courts, as
police at the Central Station
and people at the Old
Supreme Court building,
watched in amazement.

The man was lifted the last
few feet into the station by
several officers where he
remained up to press time last
night, according to police.

will host a JUNKA

OO CONCLAVE in the St. John’s

College Auditorium from Thursday, April 10, 2008
through Saturday, April 12, 2008 under the theme:

A dialogue to foster a closer relationship between
all stakeholders involved in Junkanoo on the
island of New Providence.

Dates:
1. Thursday, April 10, 2008 from
6:00 p.m. — pee
O

m. F
THE

EE OPENED SESSIONS
PUBLIC

A Town Hall Meeting will be held on the opening night
Thursday, April 10, 2008 at 6:30 p.m. and all Junk-
anooers, Sponsors, Supporters and the General Public

_ are invited to attend. It will be aired LIVE on ZNS
Radio Bahamas, 104.5 FM and recorded for later Tele-
vision viewing on the various media network stations.

2 Friday, April 11, 2008 from 6:00

.m. — 10:00 p.m.

CLOSED SESSIONS FOR DELEGATES ONLY

3. Saturda
PAID S

: ton 12, 2008 from 8:30 a.m. — 5:00 p.m.
SSIONS FOR DELEGATES AND TE

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: Station as the crowd of
: onlookers increased.

i tackled the man. And after a
: wrestling match between him,
: the man and the other police

: down and held him as other
: officers attempted to hand-
: cuff him. However, they were

: on top of him trying to sub-
: due him. Some 10 to 12 offi-
: cers were now all at once try-
: ing to take the vagrant into
: custody.

cooperate after all this effort.
: tral station.

: several officers decided to lift

: running to assist from the

direction of Central Police

The fourth officer then
officers, one officer took him

unable to accomplish the task.

As the man increased his
resistance, more officers
arrived on the scene as he lay
in Bay Street with policemen

After a few minutes, they
finally were able to handcuff
the man. But he still did not
He would not walk to Cen-

Since he would not walk,

FROM page one

resident of the High Rock constituency, rejected
the suggestion that he was aided by anyone in the

: gallery. He said that he merely looked down as he
: was thinking about and delivering the name.

The witness, who said that he has known Ms
Bridgewater since 1987, was her campaign man-
ager in 1992 when she ran unsuccessfully for the
High Rock constituency. He also held the same
post with her campaign in 2002, when she ran
for Marco City. In the last election, he was a spe-

: cial coordinator for Ms Bridgewater.

Mr Moss testified about his knowledge of the

: whereabouts of more than five challenged voters

yesterday, and he was one of four witnesses who
testified for Mr Davis at the session.

Hilton Bowleg, a resident of Bootle Bay, West
End for more than 40 years told the court that his
neighbour Ida Lee Pratt, whose vote has been

: challenged by Ms Bridgewater, has lived in Boo-

tle Bay for eight to 10 years. She was forced to
move out, he said, after Hurricane Wilma in 2005.

Mr Bowleg said that he noticed movement and
light again at the home in mid-2006, however,
he acknowledged that he never visited the house

i which he said is 800 feet away from his residence.

Burnt corpse

FROM page one

scene. However he was not apprehended.

In another turn in the investigation, police found the dead body
of a man — believed to be a Haitian national — around 6 pm
Monday near the seashore with burn marks about the body, ASP
Evans said yesterday.

At a press briefing at the Criminal Records office, ASP Evans
said police were questioning a female Haitian in connection with the
two matters. He added that preliminary information led police to
conclude the house fire and subsequent death stemmed from a
domestic incident.

“We believe that this incident, which started on Saturday and
ended (Monday) is domestic related, however once the investiga-
tion is completed we will be able to shed more light on that.”

Although he has not been identified by police, sources on the
island said the deceased is known as “Levi’
er and part-time sanitation worker who reportedly shared a home
with a female companion.

The body was flown to Nassau for an autopsy to determine the
cause of death, ASP Evans said.

“He may have been in that fire, we can’t say if he burned himself
or someone else did it. It’s too early for us to say that.”

*,a construction work-

Visitors warned

The witness also told the court that he sold the
property Ms Pratt lives on to her.

Mr Bowleg testified that he could not say how
often she was there from this period, but he said
he saw her green car at the home from this peri-
od at times when he went to work in the morn-
ings.

Anthony Forbes also testified on the where-
abouts of Javaughn Lowe, who is being chal-
lenged by Ms Bridgewater along with his father
Charles Lowe. Mr Forbes, who lives at 143 Oates
Lane, which is in the Pineridge constituency, said
that Mr Lowe lived on the street next to him, on
Fawcett Lane, during the relevant six month peri-
od before the election.

In the area Known as ‘The Park, Mr Forbes
said that during the period he would see Mr Lowe
two or three times a week, as men in the neigh-
bourhood hung out in the area in front of his
house before and after work.

He said that he would see Mr Lowe at his res-
idence in Pineridge in the mornings.brushing his
teeth and washing his face outside before they
hung-out.
THE TRIBUNE

WEDNESDAY, APRIL 2, 2008, PAGE 9



© In brief

up to buy DVD
players,
motorbikes
as govi eases
consumer
sales han

@ HAVANA

CUBAN shoppers are
snapping up DVD players,
motorbikes and electric rice
cookers that are going on sale
to the general public for the
first time, according to Asso-
ciated Press.

Lines stretch out the doors
of major government depart-
ment stores as Cubans gaze
at the new gadgets on display.

The goods that went on
sale Tuesday previously were
available only to foreigners.
But the government of new
President Raul Castro has lift-
ed that ban.

There was no sign yet of
two highly anticipated items:
computers and microwaves,
though salespeople said com-
puters would soon hit the
shelves.

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

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



US official: Security issues in the
Caribbean — we want to help

m@ By Ambassador
Thomas Shannon,
Assistant Secretary
of State for Western
Hemisphere Affairs
and Admiral James
Stavridis, US Navy,
Commander, US
Southern Command

W E RECENTLY

completed a trip
to three CARICOM
nations — Guyana, Barba-
dos, and Suriname. It was
our first opportunity to
travel together, and by
combining our visits, we
were able to interact direct-
ly with the heads of gov-
ernment of each nation, as
well as the ministers of
defence and foreign affairs.
We were also able to under-
line the extraordinary level
of interagency co-operation
between our two depart-

: ‘ments in the Americas.

the Bahamas, Barbados,
and Belize.

In each nation visited, we
received a warm welcome
both in formal conversa-
tions with our interlocutors
and informally from the
friendly people of three
vibrant and diverse democ-
racies.

In each of our stops, we
found a confluence of views
about the security chal-
lenges throughout the south
and eastern Caribbean.

Each of these probably
applies throughout the
CARICOM community and
is worth mentioning as the
leaders of the region gather
April 4:5 for a high level



“Each of our embassies in the
region and all of US Southern
Command are ready and
willing to engage in any way
to discuss issues and craft
solutions to security
challenges in the region.”



In addition to reinforcing
the continuing importance
of the region to the United
States, our joint visit was a
direct follow-up to the
June, 2007, Conference on
the Caribbean, hosted by
President Bush and Secre-
tary Rice in Washington,
DC, and President Bush’s
recent high-level dialogue
with the prime ministers of

discussion of broad security
issues facing the Caribbean
community:

@ Crime and related

violence

In addition to street
crime, the emergence of
gangs and organised crime
is of serious concern to gov-
ernments intent on protect-
ing their citizens and creat-

SAINT AUGUSTINE’S COLLEGE

invites you to keep your Big Red Machine connections strong



’ Asa graduate of St. Augustine’s College you are our most important asset
and our greatest strength. We encourage you to stay connected with the
College, other Alumni and current students. Increase your involvement
with the SAC community by joining the Alumni Association and finding
out what is happening with the academics and facilities development of

the school.

We invite you to enjoy the supplement of the celebrations of 2007
- 2008 included in today’s newspaper and to update your contact
information with us by completing the form below and fax (364-1265)



ing a safe environment for
the economically vital
tourist industry.

H@ Movement of illegal

weapons

The flow of small arms
and ammunition continues
to plague the region, many
of them coming from the
United States. This fuels
criminal violence and pre-
sents a unique threat to
police and other law
enforcement personnel.

@ Deportees

In the islands of the
Caribbean, there is signifi-
cant and legitimate concern
about the deportation to
their native countries of
Caribbean citizens who
commit crimes in the Unit-
ed States. Specifically, our
interlocutors wanted more
information on the criminal
records and backgrounds of
those being deported, and
help in reintegrating these
people into the societies of
their home countries.

@ Narcotics trafficking
The presence of drug
dealers, moving through
difficult-to-control sea and
air space, is of deep con-
cern. In addition to the
effects of the drugs them-
selves on young popula-
tions, there is the potential
and actual corruption of
police forces and judiciary.

@ Money Laundering
Often related to crime

and drug issues, this prob-

lem has the potential to cor-

rupt the financial systems
as well as providing the
“fuel” for corruption.

@ Natural and ecological

disasters

Caribbean societies and
economies are especially
vulnerable to hurricanes
and other natural disasters.
Building CARICOM capac-
ity to anticipate and
respond to such disasters is
a major security concern.
Also, as global awareness
of the potential damage to
the environment from ille-
gal logging, mining, pollu-
tion, reef decay, and other
forms of eco-destruction
rises, nations of this region
are exploring security solu-
tions.

@ Pandemics and other

health risks

The impact of HIV-
AIDS, malaria, diabetes,
and other diseases can have
a devastating impact on the
small, cohesive societies of
the Caribbean. Managing or
eradicating these diseases
is understood as key to
national security and eco-
nomic vitality.

Fortunately, the nations

of the Caribbean have well- ,

developed structures in
place, beginning with
CARICOM, to discuss
these threats and fashion
regional strategies to
address them.

Additionally, the impres-
sive Regional Security Sys-
tem of the eastern
Caribbean is a mature enti-
ty with real operational suc-
cesses and impressive capa-
bility.

In our meetings with top
officials there, it is clear
these regional organisations
are cognizant of the con-
cerns and moving rapidly to
seek solutions. The recent



superb work by all the
nations of the region and
the organisations in,
producing a successful
Cricket World Cup was
noteworthy. :

We in the United States
want to be helpful in any
way that is sensible and
effective for the nations of
the region.

There are a wide variety
of mechanisms available,
from intelligence and infor-
mation sharing, to mutually
beneficial exchanges of
trainers, to transfers
of equipment and technolo-
gy.
Our message in Guyana,
Barbados, and Suriname is
really a message for the
entire region — the United
States is a caring friend and
partner, and we genuinely
welcome the opportunity to
discuss ways we can be
helpful in addressing
regional security con-
cerns.

Each of our embassies in
the region and all of US
Southern Command are
ready and willing to engage
in any way to discuss issues
and craft solutions to secu-
rity challenges in the
region.

We eagerly await the out-
come of Caribbean leader-
ship discussions about the
security challenges, and
pledge to work with indi-
vidual countries and region-
al organisations.

The Caribbean is not
“America’s back yard,” an
expression that is wrong in
every dimension.

Rather than anyone’s
back yard, the Americas are
a home we share together;
and in our home, we must
all work together to help
each other face the security
challenges of this turbulent
but ultimately promising
21st century.

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PAGE 10, WEDNESDAY, APRIL 2, 2008

THE TRIBUNE



INTERNATIONAL NEWS

_ THE DIANA INQUEST

Coroner: Butler, photographer
lied about Princess Diana but
neither holds key to her death













Ss
WAG WMS: .sWMws_jg\gwOA-V_—_<_ .

x



Matt Dunham/AP Photo



SS
SN

LADY SARAH MCCORQUODALE, the older sister of the late
Princess Diana, leaves the High Court in London, at the start of
a lunch break, as the summation into the inquest of the death of
Princess Diana and her boyfriend Dodi Fayed begins, Monday,
March 31, 2008. A coroner on Monday discounted entirely the
conspiracy theory, pursued for more than a decade by Mohamed
Al Fayed, that Princess Diana was murdered in a secret service
plot at the behest of Britain's royal family.

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m@ By ROBERT BARR
LONDON

Both Princess Diana’s butler
and a photographer accused
of helping to stage the car
crash that killed her lied —
but neither is key to discov-
ering how she and boyfriend
Dodi Fayed died, a coroner
said yesterday.

Lord Justice Scott Baker,
summing up for a second day
after a six-month inquest into
their deaths, said it was “blind-
ingly obvious” that butler Paul
Burrell — more concerned
with exploiting his connection
to Diana — “hadn't told the
truth, the whole truth and
nothing but the truth” during
three days of testimony.

Baker also said there was
strong evidence that James
Andanson, a paparazzi pho-
tographer who claimed he had
been in Paris trailing Diana
the night of the crash, had lied
about his whereabouts that
night. Andanson has since
died.

Diana, Fayed and driver
Henri Paul died in a Paris car
accident in August 1997 while
trailed by photographers — a
crash Fayed’s _ father,
Mohamed AI Fayed, claims
was part of a plot directed by
Queen Elizabeth II’s husband,



MOHAMED AL FAYED, the father of Dodi Fayed, leaves the High Court in London, at the start of a lunch break, as the summ
of the death of Princess Diana and her boyfriend Dodi Fayed begins, Monday, March 31, 2008. A coroner on Monday discounted entirely the con-
spiracy theory, pursued for more than a decade by Mohamed Al Fayed, that Princ

Prince Philip, and carried out
by British secret agents.

Fayed had accused Andan-
son of being a secret agent
who helped set up the acci-
dent.

However, Baker told jurors
on Monday that there is no
shred of evidence to implicate
the queen’s husband, the
secret intelligence service or
any other government agency
in their deaths.

Andanson- apparently
became identified as a suspect
because he was a paparazzi
photographer and owned a
white Fiat Uno — the same
type of car that sideswiped the
Mercedes carrying Diana and
Fayed in or near the Alma
tunnel before their fatal crash.

French police were never
able to locate the white Fiat.

Baker said Burrell’s testi-
mony appeared to be based
in part on prospects for
exploiting his connection with
the princess. Burrell testified
that some three months after
the crash, the queen warned
him to be careful because
there were unidentified forces
at work in the country.

Burrell said he thought the
queen’s meaning was unclear,
but took it simply as a friend-
ly warning. Upon returning to
the United States after his tes-



Matt Dunham/AP Photo



ation into the inquest

ess Diana was murdered in a secret service plot at the behest

timony, Burrell was captured
on camera boasting that he
hadn’t told whole truth and
planted some red herrings in
his testimony. He refused to
return to explain himself to
the inquest.

“Al in all, you may think
Burrell behaved pretty shab-
by,” Baker said.

“But beyond the extent to
which it reflects on his hon-
esty on whether other matters
are true, you may think it has
no impact on the means by
which these people came to
their deaths.”

Baker later took the jury
through a number of the wit-
ness accounts from the vicini-
ty of the crash scene and not-
ed that there were inconsis-
tencies among them over
whether they saw flashing
lights, pursuing motorcycles
or other cars near the couple’s
Mercedes.

The coroner said one prob-
lem is the fallibility of memo-
ry more than a decade on, and
another is that some people
plainly invented their stories.

One such, he said, was Fran-
cois Levistre, who claimed to
have found bullet casings and
other physical evidence, a day
after actually witnessing the
crash, but never handed over
any evidence to authorities.











Ny s SYN x





Akira Suemori/AP Photo

: WS \









SSS

THE ROYAL COURTS OF JUSTICE in London, where the inquest into the death of Princess Diana is taking place,
is seen in this Monday, October 1, 2007 file photo. Testimony has ranged far and wide in an extraordinary coro-
ner’s inquest, without shedding much light on claims that they were victims of a plot directed by Prince Philip.
The coroner, Lord Justice Scott Baker, is expected to begin his summation Monday, March 31, 2008, which may
take several days before it goes to the jury.
THE TRIBUNE

WEDNESDAY, APRIL 2, 2008, PAGE 11



INTERNATIONAL NEWS

DALAI LAMA BRANDED ‘WOLF IN MONK’S ROBES’; HIS FOLLOWERS LABELLED ‘SCUM OF BUDDHISM’

China accuses Tibet independence

groups of

rs

@ By AUDRA ANG
BEIJING

China has branded the Dalai
Lama a “wolf in monk’s robes”
and his followers the “scum of
Buddhism.” It stepped up the
rhetoric yesterday, accusing the
Nobel Peace laureate and his sup-
porters of planning suicide
attacks, according to the Associ-
ated Press.

The Tibetan government-in-
exile swiftly denied the charge,
and the Bush administration
tushed to the Tibetan Buddhist
leader’s defense, calling him “a
man of peace.”

“There is absolutely no indica-
tion that he wants to do anything
other than have a dialogue with
China on how to discuss the seri-
- Ous issues there,” State Depart-
ment spokesman Tom Casey said.

Wu Heping, spokesman for
China’s Ministry of Public Secu-
rity, claimed searches of monas-
teries in the Tibetan capital had
turned up a large cache of

aN



weapons. They included 176 guns,
13,013 bullets, 7,725 pounds of
explosives, 19,000 sticks of dyna-
mite and 350 knives, he said.
“To our knowledge, the next
plan of the Tibetan independence
forces is to organize suicide
squads to launch violent attacks,”
Wu told a news conference.
“They claimed that they fear nei-
ther bloodshed nor sacrifice.”

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Wu provided no details or evi-
dence. He used the term “gan si
dui,” a rarely used phrase direct-
ly translated as “dare-to-die
corps.” The official English ver-
sion of his remarks translated the
‘term as “suicide squads.”

Wu said police had arrested an
individual who he claimed was an
operative of the “Dalai Lama
clique,” responsible for gathering
intelligence and distributing pam-
phlets calling for an uprising.

The suspect admitted to using
code words to communicate with
his contacts, including “uncle” for
the Dalai Lama and “skirts” for
the banned Tibetan snow lion
flag, Wu said.

Beijing has repeatedly accused
the Dalai Lama and his support-
ers of orchestrating violence in
Lhasa, the Tibetan capital.
Protests which began peacefully
there on the March 10 anniver-
sary of a 1959 uprising against
Chinese rule spiraled out of con-
trol four days later.

Chinese officials have put the

rs

Sal

March 28th -April 2nd, 2008 ©

*“ Except on red tagged and net items

death toll at 22, most of them Han
Chinese; the government-in-exile
says 140 Tibetans were killed.

China also says sympathy
protests that spread to surround-
ing provinces are part of a cam-
paign by the Dalai Lama to sab-
otage the Beijing Olympics and
promote Tibetan independence.

The 72-year-old Dalai Lama
has condemned the violence and
denied any links to it, urging an
independent international inquiry
into the unrest.

“Tibetan exiles are 100 percent
committed to nonviolence. There
is no question of suicide attacks,”
Samdhong Rinpoche, prime min-
ister of the government-in-exile
in Dharmsala, India, said Tues-
day. “But we fear that Chinese
might masquerade as Tibetans
and plan such attacks to give bad
publicity to Tibetans.”

Experts on terrorism and secu-
rity risks facing Beijing and the
Olympics have not cited any
Tibet group as a threat.

Scholars said the claim of sui-



cide squads was a calculated
move by China allowing it to step
up its crackdown in Tibetan areas.

“There is no evidence of sup-
port for any kind of violence
against China or Chinese,” said
Dibyesh Anand, a Tibet expert
at Westminster University in Lon-
don.

Instead, Beijing is “portraying
to the rest of China and the rest
of the world: these people are
basically irrational” and that there
was no room for compromise, he
said.

Tuesday’s accusations could
also further divide the Tibetan
government-in-exile and other
groups like the Tibetan Youth
Congress, which has challenged

the Dalai Lama’s policy of non-

violence, Anand said.

“This is a way of pressuring the
Dalai Lama to renounce Tibetans
who have created violence,” he
said.

Andrew Fischer, a fellow at' the
London School of Economics
who researches Chinese develop-

planning ‘suicide squads’

Saurabh Das/AP Photo

ment policies in Tibetan areas of
China, dismissed Wu’s warnings
as “completely ridiculous.”
What China is trying to do “is
justify this massive troop deploy-
ment, a massive crackdown on
Tibetan areas and they’re trying
to justify intensification of hard-
line policies,” Fischer said.
Drawing from a deep historical
reserve of angry rhetoric, Tibet’s

’ tough-talking Chinese Commu-

nist Party boss, Zhang Qingli,
recently called the Dalai Lama a
“wolf in monk’s robes, a devil
with a human face, but the heart
of a beast” and deemed the cur-
rent conflict a “life-and-death bat-
tle.” State media has denounced
protesting monks as the “scum of
Buddhism.”

The campaign against the Dalai
Lama has been underscored in
recent days with showings of
decades-old propaganda films on
state television portraying Tibetan
society as cruel and primitive
before the 1950 invasion by com-
munist troops.

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PAGE 12, WEDNESDAY, APRIL 2, 2008 THE TRIBUNE



INTERNATIONAL NEWS

ZIMBABWE PRESIDENT IS REPORTEDLY WARNED OF UPRISING IF HE IS DECLARED THE WINNER

Mugabe aides in talks
with the opposition
about ceding power





Tsvangirayi Mukwazhi/AP Photo

-MORGAN TSVANGIRAI, leader of the main opposition party in Zim-
babwe addresses a press conference in Harare, Tuesday, April 1,
2008. Tsvangirai said that according to the results they collected
throughout the country he had won the presidency and was waiting
for the confirmation from the Zimbabwe Electoral Commission.

i By ANGUS SHAW
HARARE, Zimbabwe

Advisers of President Robert
Mugabe and his chief rival are
discussing the possibility of
Zimbabwe’s longtime leader
relinquishing power, a busi-
nessman close to the electoral
commission and a lawyer close
to the opposition told The
Associated Press on Tuesday.

The businessman said
Mugabe has been told he is far
behind Morgan Tsvangirai in
preliminary results of Saturday’s
presidential elections and that
there could be an uprising if
Mugabe were declared the win-
ner. The lawyer said advisers to
both men were discussing a
“transitional arrangement.”

Both spoke on condition of
anonymity because of the sen-
sitivity of the issue.

The secretary-general of
Tsvangirai’s party, Tendai Biti,
dismissed the reports, saying
“It’s rubbish” before hanging
up. However, Martin Rupiya, a
military analyst at South
Africa’s Institute for Strategic
Studies and a former lieutenant-
colonel in the Zimbabwe army,
said he had heard of the mili-
tary’s involvement in negotia-
tions for Mugabe to step down.

The election outcome “has
compelled the military, the
hawkish wing and the other
moderate, to begin to reconsid-
er accommodating the opposi-
tion,” he said. “Because of the
nature of the wins they have
been forced to reassess.”

Independent observers say
trends indicate Tsvangirai won
the most votes in the presiden-
tial race, but not enough to







sates 6 eS et:
oe on cee West ot. Boas



avoid a runoff — a prospect
that could be humiliating to the
84-year-old president.

No returns from the presi-
dential vote have been made
public, fueling fears of rigging.
Mugabe has been accused of
stealing past elections, though
that was before Zimbabwe’s
economy collapsed and leading
members of his own party open-
ly defied him.

The businessman said Zim-
babwe’s security chiefs have
told the Electoral Commission
to issue results portraying a
close race, to prevent celebra-
tions that could ignite violence.

The commission has released
results for 142 of the 210 par-
liamentary seats — giving
Tsvangirai’s Movement for
Democratic Change 72 seats,
including five for a breakaway
faction, and 70 for Mugabe’s
party. John Makumbe, a politi-
cal scientist at the University of
Zimbabwe, said he had learned
from military sources that they
would honor the results of the
elections. The security chiefs
last week warned they would
not serve anybody but Mugabe
and would not tolerate an oppo-
sition victory.

Tsvangirai on Tuesday post-
poned his first public statement
since the elections until later in
the day. His spokesman George
Shibotshiwe said that was
because the opposition party
had received “a tremendous
breakthrough in the numbers
coming in” from the elections.

The opposition already has
claimed victory in the elections
based on results posted outside
polling stations, including in sev-
eral rural strongholds of

a te Pelee fel

Pa freee SC bak

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Mugabe. The initiative to dis-
play the results on voting sta-
tion doors was part of an agree-
ment between the parties nego-
tiated by South African Presi-
dent Thabo Mbeki, and could
make it more difficult to cheat.

The European Union said it
wants Mugabe to step down to
spare his nation political tur-
moil. “If Mr. Mugabe contin-
ues, there will be a coup d’e-
tat,” said Slovenian Foreign
Minister Dimitri Rupel, whose
country holds the EU presiden-
cy. He said he hoped Mugabe
“is on his way out.”

British Prime Minister Gor-
don Brown called for the imme-
diate release of election results.

“Results should be published
immediately and the elections
must be seen to be fair,” Brown
told reporters in London. “It’s
very important that the democ-
ratic rights of the Zimbabwe
people be respected and upheld
and recognized.”

The Netherlands hailed the
possibility of an opposition vic-
tory. “I get the impression that
the Zimbabweans have voted
for change and democratic
forces have the upper hand,”
said Dutch Foreign Minister
Maxime Verhagen. “Now, final-
ly, the people of Zimbabwe
have the prospect of a better
life.”

Tsvangirai has vowed not to
entertain an alliance with
Mugabe but has said previously
that he is ready to negotiate an
exit package for Zimbabwe's
ruler for 28 years. He also has
said that Mugabe should be
tried for human rights abuses,
possibly in an international
court.










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detects








Wethankyoufo your continued suppor
and vite you to celebrate with us







A HAWKER sells tomatoes in Harare, yesterday. Electoral officials urged Zimbabweans to be patient as official
results from weekend elections trickled in slowly, with opponents fearing supporters of longtime President Robert
Mugabe were rigging the count to keep one of Africa's most authoritarian regimes in power.

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@ By NEIL HARTNELL
Tribune Business Editor

he Bahamas

could experience

an almost $100

million increase

in the cost of
goods consumed in this nation
if Florida voters this November
approve the imposition of a
sales tax on all the state’s
exports, with a state commis-
sion having decided to increase
that tax from 6 per cent to 7
per cent.

Ryan Pinder, a Bahamian
and attorney with the Fort
Lauderdale-based law firm,
Becker & Poliakoff, said he
would be visiting this nation
on Friday to brief the Bahamas
Chamber of Commerce and
concerned Bahamian busi-
nesses on the situation, and
help develop a response.

Suggesting that the Cham-
ber and Bahamian business
community should link-up with
other Caribbean and Florida-
based business organisations
to lobby against any sales tax

exemption on exports, Mr Pin-_

TRIBUNE









Fy ;
DIONISIO D’AGUILAR

der said: “I have been speaking
with the Chamber and local
industries and companies
about where we are right now.
“It does appear as if it’s [the
sales tax exemption] going on
the ballot in November. For-
tunately, we have time to gear
up, figure out what to do, who
we can work with, and who
else is against this proposal.”

Redundancy payment
‘most misunderstood’
aspect of major Act

@ By NEIL HARTNELL
Tribune Business Editor

THE statutory redundancy
payments employers are
required to pay workers under
the Employment Act 2001 are
“the most fundamentally mis-
understood” part of that law, a
leading labour attorney told
The Tribune, as many believe
this is the maximum employees
are entitled to.

Obie Ferguson, who is also
president of the Trades Union
Congress (TUC), said this
belief had created “confusion”
among several attorneys and
employers, as they did not
understand that employees
could instead choose to pur-
sue a legal action under com-
mon law if they believed they
were entitled to “greater rights
or better benefits” than those





ae deat

Thompson Biv. Ph. 328-1164



due to them under the
Employment Act.

“That is the most funda-
mentally misunderstood aspect
of the Employment Act,” Mr
Ferguson said. A number of
employers and lawyers read it
literally, and that’s where the
confusion came in.”

Mr Ferguson pointed to Sec-
tion 4 of the Employment Act,
which stated that “nothing in
this Act shall be construed as
limiting or restricting..... “any
greater rights or better benefits
of any employee under any
law, contract of employment,
arrangement or custom”.

“If you look at Section 4, it
relates to the common law
rights to bring an action under
common law or statute. That’s

SEE page 4B



Mackey St. Ph. 393-5684
Bernard Road. Ph. 393-3463

pin



monn

WEDNESDAY,

Sea

APRIL 2

SECTION B « business@tribunemedia.net

$100m inflation threat





ROYAL FIDELITY

* Florida proposes to place 7% sales tax on Bahamas exports

* ‘Last thing’ Bahamian consumers and businesses need when
cost of living spiralling due to energy and food price rises

* Florida-based attorney to urge Chamber and business community
to forge Caribbean and state-side links to lobby against proposal

He added: “My initial
thought was to have a coali-
tion to campaign against this
proposal. I know we have a lot
of Florida corporations and
businesses against this propos-
al, as a higher sales tax is going
to discourage people buying
from them.”

Mr Pinder said he wanted to
“discuss some preliminary
ideas” and “hear what they
have to say and what they’re
willing to participate in” when
he met with the Chamber and
other Bahamian businesses lat-
er this week.

“I’m going to advise them to
reach out to other chambers
in the region, explain the issues
and band together region-wide,
then take a look at Florida and

which groups have banded
together against this propos-
al,” he added.

Florida’s move to not only
repeal the export sales tax
exemption, but actually
increase it by one percentage
point, could not have come at a
worse time for the Bahamian
economy, its businesses and its
consumers.

This nation is already feel-
ing the effects of cost-push
inflation and increased living
costs, through rising energy,
gasoline and food costs. Any
increase in the costs of goods
coming from Florida, which is
the Bahamas’ main trading
partner, would further drive
inflation and skyrocketing liv-
ing costs.

Mr Pinder said it was esti-
mated that the Bahamas
imported $1.4 billion worth of
goods and merchandise from
Florida last year. Imposing a
7 per cent sales tax on that fig-
ure would increase the cost of
those imports by $98 million, a
significant added burden for
Bahamian consumers.

Mr Pinder said that while the
sales tax was likely to be
ifnposed on all goods manu-
factured in originating in Flori-
da, “if Florida is used purely
as a transhipment point they
shouldn’t be affected, as they
probably originate from a free
trade zone”.

SEE page 7B

Different versions emerge

over Port talks breakdown



@ By NEIL HARTNELL
Tribune Business Editor



SHARPLY different versions of the break-
down in the Grand Bahama Port Authority
(GBPA) ownership mediation talks emerged
yesterday, with sources close to Fleming Fami-
ly & Partners alleging that the late Edward St
George’s estate was seeking an unrealistic price,
and the latter said to instead by insisting that the
offer “kept going down”.

Sources familiar with the situation told. The
Tribune that the St George estate had instead
reached an agreement in principle to sell their
GBPA and Port Group Ltd stake, which the
Supreme Court has ruled to be 50 per cent, to
Hutchison Whampoa.

The Hong Kong-based conglomerate, which is
Port Group Ltd’s 50/50 joint venture partner
in the Freeport Harbour Company, Grand
Bahama Development Company and Grand

Bahama International Airport Company, has
also made no secret of its interest in buying out
both the St George estate and the remaining
50 per cent held by the Hayward family trust.

Yet contacts close to Fleming suggested that
the London-based private wealth management
and private equity firm viewed talk of a St
George sale to Hutchison Whampoa as merely
a negotiating tactic to try and squeeze more
money from it.

One source close to the St George estate said:
“We said to them [Fleming] that we’ve rejected
you're offer because Hutchison offered a much
higher price, and the political reality is that the
Government doesn’t want one person to own
100 per cent of the Port Authority because of
what has happened recently.”

Yet contacts close to Fleming argued: “All

SEE page 7B

Money at Work

NASSAU OFFICE

(242) 356-9801

- FREEPORT OFFICE

(242) 351-3010

Babak takes
$3.25m Port
claim to UK
arbitration

@ By NEIL HARTNELL
Tribune Business Editor

OUSTED Grand Bahama
Port Authority (GBPA) chair-
man Hannes Babak has taken
his demand for the compensa-
tion he claims is due to him
under his employment contract
to the International Chamber
of Commerce’s (ICC) arbitra-
tion court in London, his attor-
ney alleging that he is owed at
least $8.25 million for the year

- to March 31, 2007.

In a February 29, 2008, letter
to the ICC’s International
Court of Arbitration, setting
out Mr Babak’s case against
Intercontinental Diversified
Corporation (IDC), the GBPA
and Port Group Ltd holding
company, his attorney, Andre

SEE page 5B

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PAGE 2B, WEDNESDAY, APRIL 2, 2008

THE TRIBUNE



Company settles accident
claim with $240,500 cheque

@ By NEIL HARTNELL
Tribune Business Editor

A BAHAMIAN construction firm
paid $240,500 to the widow of a for-
mer employee to settle a claim
brought under the Fatal Accidents
Act, even though the Court of Appeal
allowed the company’s appeal in the
case. :

The Court of Appeal judgment,
written by Justice Emanuel Osade-
bay on behalf of himself and fellow
justices, Lorris Ganpatsingh and Hart-
man Longley, found that Regina
Johnson, widow of Malcolm Johnson,
“cannot maintain” a case against Sol-
dier Road-based New Providence
Building Supplies.

The justices ruled that she could
not bring a case against the company
under the Fatal Accidents Act, or a
common law case for negligence, to
recover $100,000 in a life insurance
policy her late husband had taken out

with Family Guardian Insurance
Company.

However, during the proceedings,
New Providence Building Supplies’
attorney, Reginald Shepherd of
Lennox Paton, informed the court

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But court rules employee’s widow had no claim
under either common law or Fatal Accidents Act

that a $240,500 cheque had been sent
to Mrs Johnson’s attorney, Sharon
Wilson, to settle the Fatal Accidents
Act claim.

New Providence Building Supplies
had appealed a previous ruling by
Supreme Court Justice, Jeanne
Thompson, who had found that Mrs
Johnson was denied the $100,000
insurance policy proceeds due to the
company’s “negligence and bréach of
duty of care owed” to her husband.
The company had been ordered to
pay $100,000 plus 5 per cent interest
per annum from the date of Mr John-
son’s death on July 15, 2000.

The Court of Appeal recorded that
he died in a vehicle accident, when
the concrete mixer truck he was dri-
ving for New Providence Building
Supplies veered off Interfield road
and overturned after colliding with

several utility poles.

Mr Johnson had been employed
for two years, and the couple had one
stepson and a daughter who was born
after his death.

Estate

Yet his wife, as executrix of his
estate, was unable to claim on the
Family Guardian insurance policy,
due to its Accidental Death Benefit
Rider. This stated that no Accidental
Death Benefit “will be payable” if
death was caused by “any drug, poi-
son, gas or fumes voluniarily taken,
administered or inhaled”.

The Supreme Court judgment
recorded that both the company and
Mrs Johnson agreed that the cause
of death was caused by carbon
monoxide inhalation and the con-

treal.

sumption of alcohol, meaning Family
Guardian was right to withhold pay-
ment.

Yet the judge decided that Mrs
Johnson was able to maintain an
action under both the Fatal Accidents
Act and under the common law prin-
ciples of negligence.

In its judgment, the Court of
Appeal described as “unusual” the
fact that Mrs Johnson’s allegations of
negligence at common law against the
company over her husband’s death
were “built on submissions with no
evidence.... There was nothing on the
record to indicate that [New Provi-
dence Building Supplies] had been
found guilty of negligence”.

As a result, the Court of Appeal
reversed the Supreme Court’s find-
ing on the common law action.

On the Fatal Accidents Act

grounds, New Providence Building
Supplies’ attorney argued that the
exception clause, which limited Fam-
ily Guardian’s liability, meant Mr
Johnson’s estate could was not enti-
tled to get the accidental death bene-
fit and therefore could not claim for
an alleged loss it was never going to
receive.

To claim under the Fatal Accidents
Act, the Court of Appeal said the cir-
cumstances of Mr Johnson’s death
should have been such that he would
have been able to claim under the
Family Guardian insurance policy had

he survived.

In this case, the court ruled he
would have been unable to pursue
such an. action because of the excep-
tion clause in the Family Guardian
policy, and therefore rejected the
claim.

Gold futures plummet on Wall Street rally, stronger dollar

34 cents to settle at $8.95 a

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= By STEVENSON JACOBS
AP Business Writer

NEW YORK (AP) — Gold
prices tumbled Tuesday, drop-
ping below $900 as a stronger
dollar and hopes that the cred-
it crisis may finally be easing
led investors to shed hard
assets in favor of stocks.

Other precious metals also
fell sharply, with platinum
plummeting more than $100

and silver and.copper also trad-

ing lower.
The steep losses came as

Wall Street staged a big rally to
start the second quarter, sig-
naling new optimism that the
credit crisis that has roiled
global markets and slowed the
United States economy may
finally be subsiding. The Dow
Jones Industrials jumped 390
points.

“There’s a perception that
the credit freeze may finally
be thawing and that has hedge
funds leaving the commodities
complex and buying equities,”
said Jon Nadler, analyst with
Kitco Bullion Dealers in Mon-

FIRSTCARIBBEAN

INTERNATIONAL BANK

CAREER OPPORTUNITY

jfor

SENIOR FINANCIAL ANALYST

Qualifications:

BAHAMAS

Accounting designation (ACCA, CPA or other similar designation)
Audit experience (Preferred) .
Prior experience working in/with financial institutions

Proven analytical skills in reporting, modelling and forecasting
Proven team management skills

General Requirements/Responsibilities:

Ensures the integrity of financial information presented for FirstCaribbean
International Bank (Bahamas) Limited
Analyzes financial results and prepare variance reports for local and parent

company leaders.

Assist with the preparation of accurate and timely quarterly financial
statements for publication as required by the Securities Commission and

ed ps -BISX.

Ensures that financial and management reports are prepared and distributed
within established timelines
Consults with business units of the Bahamas entity, monitors their

performance and provides advice based on analyzed fesults and strategic

. plan priorities

/

Liaises with business heads, anticipating the impact of internal and external
factors and trends on overall profitability, return on investment and future
growth for the Bahamas entity.
Interpret changes in accounting and reporting standards and recommend

changes and enhancements to systems and reports.

Remuneration:

¢ Salary commensurate with management position at the FC Level 6
(Note: 1 - 11 job levels)

Benefits- attractive salary, six weeks vacation, preferred loan rates, employee share

purchase plan, variable incentive pay (bonus), medical scheme, pension benefit

Applicants are requested to submit their resume with a cover letter via email
by April 4th, 2008 to: deangelia.deleveaux @firstcaribbeanbank.com

FirstCaribbean International Bank (Bahamas) Limited thanks all applicants for their
interest, however only those under consideration will be contacted.
Vacancies are open to Bahamian residents only.

1 Fit Masai tseebae Ey vere, ayy

'



Gold for June delivery
plunged $33.70 to settle at
$887.80 an ounce on the New
York Mercantile Exchange,
after earlier falling as low as
$876.30 — its lowest level in
nine weeks.

Gold has fallen nearly 10 per
cent in the last month and is
down more than $100 from its
record high of $1,038.60,
reached March 17. The metal
has sunk as the dollar has
steadied against the euro and
crude oil prices have eased,
diminishing gold’s appeal as an
inflationary safe haven. The
dollar ticked higher Tuesday
against the euro, which bought
$1.5610 in afternoon trading.

Analysts say gold could sink
lower as more large funds pull
positions out of gold and buy
assets that offer higher returns.

“We think the risk of further
de-leveraging (of gold) is too

high and even if physical
demand remains strong, it will
not prevent gold from selling
off,” John Reade, analyst with
UBS Investment Bank in Lon-
don, said in a note.

Other precious metals also
fell sharply Tuesday. Silver for
May delivery lost 42 cents to
settle at $16.890 an ounce on
the Nymex, after earlier falling
to a nine-week low of $16.30
an ounce.

Platinum for July delivery
dropped $105.60 to settle at
$1,937.80 an ounce on the
Nymex, after earlier falling as
low as $1,887. Nymex copper,

meanwhile, slipped 2.45 cents '

to settle at $3.8065 a pound.

In. agriculture markets, |

wheat prices fell further a day
after the US Department of
Agriculture predicted farmers
will increase the acreage dedi-
cated to the crop.

Wheat for May delivery lost

bushel on the Chicago Board
of Trade, after earlier falling
as low as $8.90 a bushel.

Other agriculture futures
rose. Corn for May delivery
climbed 16.75 cents to settle at
$5.8425 a bushel on the CBOT,
while May soybeans added
13.75 cents to settle at $12.11 a
bushel.

In energy futures, crude oil
fell Tuesday after the stronger
dollar diminished the appeal
of hard assets asa hedge
against inflation.

Light, sweet crude for May
delivery fell 60 cents to settle at
$100.98 a barrel on the Nymex,
after earlier falling to $99.55.

Other energy futures traded
mixed Tuesday. May gasoline
futures added 1.21 cents to set-
tle at $2.6392 a gallon, while
May heating oil futures fell
2.64 cents to settle at $2.8797 a
gallon.

POSITION VACANY

MAINTENANCE SUPERVISOR

Pepsi-Cola Bahamas an affiliate of PepsiAmericas Inc is currently
seeking applicants for the. position of Maintenance Supervisor
to assume responsibility for the efficient operation and
maintenance of its equipment and machinery, with a keen focus
on detail in keeping with international standards. Applicants
must be customer oriented with a track record of mastery in

mechanical areas.

The incumbent will be required to:

e Ensure the effective and efficient performance of the
maintenance function for the building and the environment;
the packaging lines; electrical distribution and RO water

systems

Execute a planned and preventative maintenance program
Diagnose equipment malfunction and effect repairs as

NECESSATY

Maintain the technical integrity of the plant to attain
production targets and keep abreast with the latest
technological advancements

The ideal candidate should have strong Electrical & Mechanical
Engineering experience, demonstrate a proficiency to trouble
shoot and repair common electrical and mechanical problems
and have the ability to work independently.

Please e-mail resume to: hrpepsibahamas@gmail.com


THE TRIBUNE

WEDNESDAY, APRIL 2, 2008, PAGE 3B





Bahamas caught ‘in
an economic pincer’

@ By NEIL HARTNELL
Tribune Business Editor

BAHAMIAN businesses and con-
sumers are caught in “a pincer”
between escalating costs and declining
revenues, the Chamber of Com-
merce’s president warned yesterday,
with inflationary pressures leaving
people with less disposable income.

Dionisio D’Aguilar, who is also
president of laundromat chain Super-
wash, told The Tribune: “We’re
caught in a pincer of rising costs and
reducing revenues. There are less
tourist arrivals, less economic activity
and rising costs through increasing
energy prices. It’s becoming a real,
real issue.”

The Chamber president’s com-
ments bear out Tribune Business’s
previously reported analysis, which
was that Bahamian companies and
consumers are being squeezed at
‘both ends’.

The credit crunch and global eco-
nomic woes, combined with the blow
that Bahamian business and consumer
confidence took as a result of Har-
rah’s withdrawal from the $2.6 bil-
lion Cable Beach project, has resulted
in less tourism activity, reduced for-
eign direct investment and a decline in

Bahamian real estate by wealthy for-
eign buyers.

This, in turn, has reduced sales rev-
enues and salaries, especially for those
relying on commissions and gratu-
ities, for Bahamian businesses and
consumers alike. ~

At the same time, escalating food
prices and energy costs, with oil prices
remaining over $100 per barrel, have
prompted increases in the prices of
everyday items across the board. In

turn, this has fuelled inflation and liv-

ing cost increases, leaving Bahami-
ans with less disposable income.

Mr D’ Aguilar expressec’ disap-
pointment that successive govern-
ments had yet to craft a National
Energy Policy, arguing that the
administration needed to take the
lead in encouraging businesses and
consumers to become more energy
efficient and adopt alternative energy
forms. ©

The Chamber president said people
needed to be “motivated” into energy
conservation and alternative forms
through tax incentives, reducing cus-
toms duty and stamp duty on import-
ed solar water heaters and such like.

“I’m a little disappointed that this
National Energy Policy they have
been talking about has not come to

DIONISIO D'AGUILAR



would be good if they developed a
policy that encouraged people to use
less.

“You've got to be seen to be push-
ing people into energy conservation.
Motivate people through the tax
structure by making solar water
heaters much cheaper than electrical
ones.

“You've also got to encourage BEC
to really start to look at reverse
metering, so that businesses can sell
the surplus electricity they generate
through alternative means back to
the grid.”

Warning’that rising electricity bills
were “eating up more and more of
people’s salaries”, Mr D’Aguilar
added: “You’ve not only got to

show them how to use less.”

Mr D’Aguilar’s suggestions mir-
rored those of the Coastal Aware-
ness Committee, which in advancing
environmental awareness yesterday
called upon the Government to allow
Bahamians to import items such as
energy saving light bulbs, “green” or
reusable shopping bags, solar lights
and other solar powered devices duty
free.

. It also urged the Government to
reduce customs duty on the importa-
tion of fuel efficient vehicles and a
tax increase on vehicles and boat
engines that are less environmentally-
friendly in their consumption of ener-

gy.

Meanwhile, Mr D’Aguilar said:
“Bahamian businesses really need to
look at how they can start to conserve
and use less energy. Food store prices
are going through the roof, and
Bahamian salaries are not going up.

“There’s nothing we can do about it
except put up our prices and come
up with creative ways to conserve.

“Transportation costs will grow and
eat up people’s salaries. More and
more will go on energy and trans-
portation. The consumption of gaso-
line is inelastic. It’s leaving less and
less disposable income for people’s

less, there is less and less economic
activity.”

The Chamber president said there
were also questions on the level of
liquidity in the Bahamian commer-
cial banking system, and whether this
was enough to meet loan demand.

He said he knew of at least two
people who had told him they could
not obtain mortgage loans from
Bahamian banks, even though they
were qualified.

Mr D’ Aguilar said he hoped lend-
ing activity would be directed towards
more productive activities, such as
mortgages and commercial loans,
rather than the higher-yielding con-
sumer loans.

Any economic downturn could see
people lose their jobs or placed on
one and two-day weeks in the hotel
industry, something that could cause
problems for highly-leveraged
Bahamians who were up to their eye-
balls in debt.

Fred Mitchell, the PLP MP for Fox
Hill, told the House of Assembly that
his constituency office had recently
been inundated with a spike in
requests for assistance in meeting
food, housing and electricity costs,, a
potential sign that the economic
crunch is beginning to bite low and

demand for second homes and

fruition,”

Mr D’ Aguilar said. “It

encourage people to use less, but

consumption, and as they consume

Investors asking what to do after dismal
Q1 should consider longer-term goals

HB By TIM PARADIS
AP Business Writer

NEW YORK (AP) — For
some uneasy investors, the
questioning could start at the
mailbox: Now what?

Statements for investments
like 401(k) plans or mutual
funds will soon arrive, show-
ing investors how much they
shared in the bloodletting Wall
Street saw during the first
three months of the year.

With evidence of the quar-
- ter’s toll in hand, more
investors might be tempted to
call brokers or financial advis-
ers, asking what to do now. For
many with a long-term invest-

ment strategy, the answer,

might simply be stay put or at
least consider only a few mod-
est moves to snap up bargains.

Investors might find some
solace knowing that the car-
nage was widespread. The
Standard & Poor’s 500 index
— the yardstick for many stock
investments — fell nearly 10
per cent in the first quarter.
And all but a handful of rela-
tively small mutual fund cate-
gories lost ground.

So for investors who didn’t
wade into volatile corners of
the market like gold or into
funds that bet stocks would fall
— so-called short-bias invest-
ments — it was a fairly dismal
period.

For many, the quarter’s
gyrations were a reminder of
the fragility of some invest-
ments.

Investor Paul-McCullough

has remained distrustful of the
stock market since being badly
burned by the dot-com col-
lapse.

Instead of stocks, he puts his
money into holdings like CDs
and savings accounts.

“T took a tremendous loss,”
he said, noting his portfolio fell
about 40 per cent at the mar-
ket’s swoon at the start of the
decade.

He said he might venture
back in the stock market at
some point but that he mostly
plans to rely on more consery-
ative investments and deferred
compensation to get him
through retirement, which he
estimates is still at least a
decade off.

“They’re certainly safer,” he
said of his investments now
that he’s out of stocks.

McCullough isn’t alone.
Like-minded investors seeking
the tranquility of less-volatile
investments have shoehorned
record stacks of cash into mon-
ey market funds in recent
months.

But while avoiding a pull-
back in the markets might be
ideal, it’s hard to accomplish.

And investors who simply
step aside can end up in the
financial dust if the stock mar-
ket comes roaring back.

Wall Street’s biggest gains
often occur in short bursts
when the stock market is
climbing out of a downturn.
Missing just a few big up days
can sharply limit an investor’s
gains.

“You don’t want to miss it

* when things turn around and

things start to look a little bet-
ter,” said Russell Croft, port-
folio manager at Croft
Leominster Investment Man-
agement in Baltimore.

Croft said he reminds clients
that volatility is unavoidable
in the stock market and that
those who don’t need to draw
on their investments in the
next few years should likely
make few changes to their
portfolios.

“We try to preach the long-
term focus of how we do
things. There are always,
always going to be times of
volatility in the stock market. It
kind of pays to be an optimist
and stick with it through the
bad times. The trend, as we
know, is to go up,” he said of
the stock market.

Investors might consider tak-
ing advantage of the pullback
by steering some of their hold-
ings into quality stocks that
have been beaten down,
aecording to Dean Junkans,
chief investment officer at
Wells Fargo Private Bank in
Minneapolis.

With interest rate reductions
cutting into bond yields, for
example, Junkans - said
investors should think about
buying stocks of solid, divi-
dend-paying industrial or tech-
nology companies in order to
keep ahead of inflation.

He said cautious investors
might consider municipal
bonds, which were hard hit in
the first quarter.

“This is a chance to make

’

SECTIONS EDITOR
THE TRIBUNE

is seeking a Main Section Editor to design news
pages and write eye-catching head-lines. Solid
journalistic credentials essential, including a keen
news sense, excellent text-editing ability and an
aptitude for supervising staff. Applications please

to:



Managing Editor
The Tribune
P.O.Box N-3207
Nassau, Bahamas

tweaks and be opportunistic in
your portfolio. Along with
some of those tweaks take
some tax losses if you need to
do some repositioning,” he
said, suggesting investors con-
sider using the pullbacks in

their investments to reduce
their tax burdens.
In any case, there are deft
moves to be made, he said.
“A lot of our clients are
looking for w here there are
opportunities.”

middle-income Bahamians.

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for the April 2008 intake

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(703) 549 5424

www.rdicaribbean.com




PAGE 4B, WEDNESDAY, APRIL 2, 2008

THE TRIBUNE



Redundancy payment

‘most misunderstood’
aspect of major Act

WANTED

Applications for the position of

A BUYER AND STORE MANAGER

Experience in buying for a retail store
Experience in managing a retail store
Experience in managing people _
Must have excellent organizational skills

Must have excellent customer service skills






Please submit resume and photograph to
SPORT LOCKER,

P.O. Box N-523

Nassau, Bahamas





Legal Notice

‘NOTICE

MAMICA LIMITED

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company is
in dissolution, which commenced on the 27th day of March
2008. The Liquidator is Argosa Corp. Inc., P.O. Box N-7757
Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

UBS

UBS (Bahamas) Ltd. is one of the world's leading financial institutions in the Caribbean.
Through our Business Area Wealth Management International we look after wealthy
private clients by providing them with comprehensive, value enhancing services. Qur
client advisors combine strong personal relationships with the resources that are
available from across UBS, helping them provide a full range of wealth management
Services.

In order to strengthen our Controlling & Accounting team in Nassau, we are looking to
fill the following position:

Successor for Head Controlling & Accounting

After a training phase of 12-15 months the candidate will have the following essential
duties and responsibilities: - .

Reporting of financial data to head office

Financial reporting to local management and local regulator

Planning and forecasting

Preparation of Financial Statements

Maintain relationship with external auditors

Ensure compliance with SOX section 302 and 404 and regulatory requirements

Supervise a team of accountants.

Minimum Requirements
CPA certification
Graduate degree in Finance or Economics
Sound, working knowledge of International Financial Reporting Standards (IFRS)
and banking regulations (BASEL Il)
Experience in leading a team
7 - 10 years working experience in same or similar position
Previous work in a financial institution preferred
Extensive knowledge of MS Office and related Application Software products

In addition, the candidate must have an in-depth understanding of Financia
instruments and the banking business. The ideal candidate must possess strong
analytical, communication, organizational and leadership skills, A strong
‘business/customer orientation is essential

Written applications should be received on or before April 11, addressed to:

UBS (Bahamas) Ltd,
Human Resources
P.0, Box N-7757
Nassau, Bahamas

arbanamas@uns.com or



ment Act was passed. It aimed
to prevent employers from
arbitrarily terminating employ-
ment contracts and putting
workers on agreements that
were in line with the Act, but
conferred less benefits.

FROM page 1B

where the misunderstanding
comes in, in my view,” Mr Fer-
guson added.

This section was designed to
protect workers who might
have been employed on “more
favourable terms” by their
employers when the Employ-

For line workers who have
been employed for 12 months
or more, the Employment Act

Legal Notice

NOTICE

_ENGLISH ROSE INVESTMENTS LIMITED
(In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 27th day of
February 2008. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

TARKUSHA LIMITED

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company is
in dissolution, which commenced on the 26th day of March
2008. The Liquidator is Argosa Corp. Inc., P.O. Box N-7757
Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)



Legal Notice

NOTICE

DEWBERRY VENTURES LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company is
in dissolution, which commenced on the 28th day of March
2008. The Liquidator is Argosa Corp. Inc., P.O. Box N-7757
Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

grants redundancy provisions
of two weeks’ notice or two
weeks’. basic pay in lieu of
notice, and two week’s basic
pay for each year worked up to
24 weeks. This effectively pro-
vides a maximum of six
months’ pay.

For supervisors, the system is
the same under the Act, except
they receive four weeks’ or one
month’s notice or pay in lieu of
notice, and four weeks’ wages
for every year worked up to
48 weeks. They effectively
would walk away with a year’s
pay.
Yet under common law,
employees have a right to
plead that due to the peculiar
nature of their job, their par-
ticular circumstances require a
a greater benefit than due to {8
them under the Employmen iy asc
Act.



Share your news

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

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

Legal Notice

NOTICE.

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

ANSLEIGH LIMITED

In Voluntary liquidation

“Notice is hereby given that in accordance with Section 137 (4) of
the International Business Companies Act (No. 45 of 2000),
ANSLEIGH LIMITED is in Dissolution.”

The date of commencement of dissolution is the 8th day of Febru-
ary 2008.

Lutea Trustees Limited
9 Burrard Street
St. Helier, Jersey,
JE2 4AP
Liquidator .

Legal Notice

NOTICE

SHALESA OVERSEAS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company is
in dissolution, which commenced on the 27th day of March
2008. The Liquidator is Argosa Corp. Inc., P.O. Box N-7757
Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

“Home delivery of The
Tribune gives me a head
start. The Tribune is

my newspaper.”

HAROLD ANTOR

INSURANCE EXECUTIVE

For delivery of the leading

Bahamian newspaper, call The
Tribune's Circulation Department
at 502-2383 or visit our offices on
Shirley Street to sign up today!

The Tribune

Mey Vowe, ly Vlewspaper!


THE TRIBUNE WEDNESDAY, APRIL 2, 2008, PAGE 5B

BTC’s TDMA global
roam to finish at
month’s end

“It also allows customers to be able to
access new features like multi-media mes-
saging that will become available in a few
months.”

BTC will decommission its TDMA net-
work at the end of the year. Limited
TDMA roaming is now available in South
Florida, the company’s largest TDMA
roaming partner, AT&T, having begun to
decommission its network.





opment, said;

“TDMA customers that use their phones
when they travel should visit their nearest
Cyber World or BTC at JFK or the Mall at
Marathon, or any BTC location in the
Family Islands to move over to the GSM
network.”

“GSM offers international roaming on
more than 145 networks in over 80 coun-
tries around the world.

THE Bahamas Telecommunications
Company (BTC) yesterday reiterated that
international roaming on its TDMA cell
phones would end on April 30, 2008, a
move that could cause major inconve-
nience for Bahamian businessmen when
it came to communicating with head offices
and clients while overseas.

Marlon Johnson, BTC’s vice-president
for sales, marketing and business devel-

Babak takes $8.25m Port
claim to UK arbitration



MARLON JOHNSON, BTC’s vice-president for sales, marketing and
business development

FROM page 1B

Feldman, said he entered into
his employment contract with
IDC and the Port Group of
Companies on June 1, 2006.

Mr Feldman said his client
was to earn 25 per cent of all
consolidated IDC profits
above the amount of $7 mil-
lion.

“[IDC] has not provided the
necessary accounts to [Mr
Babak], and has not paid any
remuneration whatever to the
claimant and, in particular, that
due for the past business year
prior to March 31, 2007, and
due to be paid by April 15,
2007,” Mr Feldman wrote.

“(Mr Babak] therefore seeks
an account of what is due to
him and payment. As to
amount, the receivers of the
Port Group of Companies
have stated that the profit for
the year was $34 million plus a
dividend paid of $6 million,
with the result that the
claimant is entitled to the prin-
cipal sum of $8.25 million and
interest if those sums prove to

be accurate.”

Mr Feldman pointed out
that a clause in Mr Babak’s
contract stipulated that the UK
would be the chosen place for
arbitration should any dispute
arise from it.

In his Points of Claim, Mr
Babak alleged that IDC had
failed to ensure its annual
audited accounts for the rele-
vant financial year were drawn
up by March 31, 2007, and to
pay him what was due by April
15, 2007. As a result, his
employment agreement had
been breached.

He alleged that IDC’s con-
solidated profits, according to
his contract, were to be based
on the profits of all Port com-
panies in which IDC held a
direct or indirect interest; and
any profits realised by Port
companies from operations or
asset sales.

The $8.25 million figure is a
far cry from the $65 million
that an IDC director, Ian Box-
all, said the company might be
liable to pay Mr Babak in an
affidavit how swore late last

year.

A December 20, 2007, letter
from IDC’s Cayman attorneys,
Bodden & Bodden, to Brian
Simms, the attorney acting for
then-GBPA receivers Clifford

and Myles Culmer, urged that
IDC be provided with the
2006-2007 audited accounts for
the GBPA, Port Group Ltd
and all their subsidiaries, hav-
ing received such a request

Legal Notice

NOTICE

EXXONMOBIL ABU DHABI (ONSHORE GAS)
LIMITED

NOTICEIS HEREBY GIVEN as follows:

(a) EXXONMOBIL ABU DHABI (ONSHORE GAS)
LIMITED is in dissolution under the provisions of the
International Business Companies Act 2000.

(b) The dissolution of the said Company commenced on the 31st
day of March, 2008 when its Articles of Dissolution were
submitted to and registered by the Registrar General.

(c) The Liquidator of the said Company is MaryBeth Taboada,
16945 Northchase Drive, Houston, Texas 77060, U.S.A.

Dated the 31st day of March, 2008.

from Mr Babak’s Cayman
attorneys, Maples & Calder.
“Having had the contract
independently valued, we
expect that should the contract
be repudiated by IDC by fail-

ing to provide such documents
or otherwise perform its oblig-
ations, the likely loss to IDC is
in the range of $65-$100 mil-
lion,” Bodden & Bodden
warned.

Legal Notice

NOTICE

EXXONMOBIL ABU DHABI (ONSHORE GAS)
LIMITED

Creditors having debts or claims against the above-named
Company are required to send particulars thereof to the
undersigned c/o P. O. Box N-624, Nassau, Bahamas on or
before 24th April, A.D., 2008. In default thereof they will
be excluded from the benefit of any distribution made by

the Liquidator.

Dated the 31st day of March, A.D., 2008.

MaryBeth Taboada

Liquidator
16945 Northchase Drive
Houston, Texas 77060, U.S.A.

HARRY B. SANDS, LOBOSKY MANAGEMENT
Co. LTD.
Attorneys for the above-named Company

BISk i 2a

Pricing Information As Of:
SIT WWW .BISXBAHAMAS.COM FOR MORE DATA & INFORMATION
G 0.28 ( CHG 0.01 / YTD ~103.27 (YTD % -5.00
Previous Close Today's Close Change Daily Vol. _EPS$ Div $ P/E
Abaco Markets 1.93 1.93 0.00 0.135
Bahamas Property Fund 11.80 11.80 0.00 1.502
Bank of Bahamas 9.61 9.61 0.00 0.643
Benchmark 0.99 0.99 0.00 0.188
Bahamas Waste 3.66 3.66 0.00 0.289
Fidelity Bank 2.60 2.60 0.00 0.058
Cable Bahamas 13.63 13.63 0.00 1.093
Colina Holdings 2.87 2.87 0.00 0.031
Commonwealth Bank (S1) 7.22 7.22 0.00 0.428
Consolidated Water BDRs 4.21 4.63 0.42 0.157
Doctor's Hospital 2.50 2.50 0.00 0.316
Famguard 7.90 7.90 0.00 0.713
Finco 12.92 12.92 0.00 0.810
FirstCaribbean 13.50 13.50 0.00 0.914
Focol (S) 5.50 §.50 0.00 0.363
Freeport Concrete 0.74 0.67 -0.07 0.035
ICD Utilities 6.86 6.86 0.00 0.411
J. S. Johnson 12.30 12.30 0.00 1.059
Premier Real Estate _ 10,00 10.00 0.00 1.167
~ Fidelity Over-The-Counter Securities
Bid $ Ask $ Last Price
14.60 15.60 14.60
6.00 6.25 6.00
0:38 0.40 0.35
lina Over-The-Counter Securities
41.00 43.00 41.00
14.60 15.60 14.00
a _ 0.45 0.55 0.45
— BISX Listed Mutual Funds
; NAV YTD% Last 12 Months
1.304134* 5.70%
2.982729* 14.89%
1.384657*** 3.92%
3.6651* 18.28%
12.0429* 5.69%
100.00**
100.00**



NOTICE

NOTICE is ae ae that ISABELLE PIERRE of
WASHINGTON 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 2nd day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

11.50
8.65
0.85
2.10

#1.30

10.35
2.10
4.73
3.60
2.20
5.94

12.45

13.50
5.12
0.54
6.86
8.60

10.00

NOTICE

NOTICE is hereby given that CLERDORA VALNOR OF
PINDER’S POINT, P.O. BOX N-45056, FREEPORT, GRAND
BAHAMA, 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 2nd day of
APRIL, 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.

6.00%

Weekly Vol. EPS $ Div $
1,999 1.160
0.000
-0.023

Symbol
Bahamas Supermarkets
Caribbean Crossings (Pref)
RND Holdings _

NOTICE S2ulcLow
NOTICE is hereby given that JUSTE KETIA of LIFE BUOY
STREET OFF EAST 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 2nd day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

0.900
0.480
0.000



2.750
0.900
0.000

4.450
1.160
-0.023

ABDAB
Bahamas Supermarkets
RAND Holdings commas



Fund Name Div $ Yield %
Colina Bond Fund

Colina MSI Preferred Fund
Colina Money Market Fund
Fidelity Bahamas G & | Fund
Fidelity Prime Income Fund
CFAL Global Bond Fund
CFAL Global Equity Fund
CFAL High Grade Bond Fund 1.00**

Fidelity International Investment Fund —_9.6433* -0.20% -8.16%

FINDEX: CLOSE 912.61 / YTD 4.14% / 2007 28.29%

1.2037
2.6254
1.2647
3.1424
11.4467
.100.0000
100.0000
1.0000
9.6433



NOTICE

NOTICE is hereby given that JONELL JOSEPHAT



PIERRE of SAMSON STREET, NASSAU VILLAGE,
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 2nd day of
April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.







BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00
52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks

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

Change - Change in closing price from day to day
Daily Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month earnings

(S) - 4-for-1 Stock Split - Effective Date 8/8/2007
(S1) - 3-for-1 Stock Split - Effective Date 7/11/2007

MARKET TERMS.

YIELD - last 12 month dividends divided by closing price

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

Last Price - Last traded over-the-counter price
Weekly Vol, - Trading volume of the prior week

NAV KEY

*~ 29 February 2008
**~ 341 December 2007
*** 24 March 2008

EPS $ - Acompany's reported earnings per share for the last 12 mths
NAV - Net Asset Value
N/M - Not Meaningful

B77

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



4 / FOR MORE DATA & INFORMATION CALL (242) 394
PAGE 6B, WEDNESDAY, APRIL 2, 2008 THE TRIBUNE

STF
ye

Citing, say
SHOWER

«gaa eee
FQARY ang gene “Sense 98"
Wer" 8 Que ane



“T get a better sense of what



is happening in The Bahamas iF



from reading the Tribune.
Where other daily
newspapers fall short, the
Tribune delivers. ’m
confident knowing The
Tribune looks out for my

interests. The Tribune is

my newspaper.” The Tribune

NELSON JOHNSON 7
TAX! DRIVER
THE TRIBUNE

WEDNESDAY, APRIL 2, 2008, PAGE 7B





Different versions emerge
over Port talks breakdown

FROM page 1B

week they [the St George estate] have been

- whispering to anyone they could possibly think
of to carry the message to Fleming that they
were going to do some sort of deal with Hutchi-
son.”

This source said that in meetings with Flem-
ing, Hutchison Whampoa said that while it was
interested in acquiring the GBPA, it did not
want to purchase any of the two sides’ share-
holdings while the ownership dispute and liti-
gation were still ongoing on the Bahamian
courts.

The Tribune was told that Hutchison Wham-
poa did not want to merely buy an interest in the
litigation, and also harboured concerns as to
what it was acquiring - is the St George estate’s

$100m inflation threat

stake 50 per cent, as it alleged, or 25 per cent as
the Hayward sided claims?

Fleming, as previously revealed by The Tri-
bune, has agreed a deal in principle with the
trustees of the Hayward family trust to acquire
its stake, held by the investment vehicle,
Seashells Investments, for $100 million.

Hutchison Whampoa had previously offered
$125 million to Sir Jack, but when the formal
documents were submitted to the trust’s trustees
and their advisers, it was felt that there were so
many terms and conditions attached that it
would ultimately be much less than the headline
figure.

“Lady Henrietta [St George] and the family
are determined to get $125 million from the

‘Flemings,” the source said, citing this disagree-

ment as a key factor in why the talks broke
down.

One aspect that makes these talks different
from normal mergers and acquisitions negotia-

tions is that Fleming and Hutchison are having
to deal with a family with diverse and competing
interests/agendas, rather than a fellow corporate
team.

It was suggested to The Tribune that Lady
Henrietta and the estate’s fellow executors,
Chris Cafferata and her brother, Lord Euston,
were coming under pressure from other family
members to obtain a higher price than the one
offered by Fleming. It had offered the same
$100 million deal as the offer accepted by Sir
Jack.

Another source added: “On the face of it the
offer by Hutchison may be a lot higher, but by
the time they’ve finished doing what they want
to do, the cheque will be a lot lower.”

They suggested that Fleming never had any
real hope that the mediation would result in a
breakthrough, believing it instead would give the
estate’s attorney, Fred Smith, an opportunity
to play for time and relieve his personal legal



burden, which currently involves representing
the FNM’s Zhivargo Laing in the election court
case.

Yet a source close to the St George estate
suggested that Fleming was “just playing games
with them”. .

“They did discuss a price but it kept going
down,” the source said. “They offered $100 mil-
lion, but wanted to conduct a complete audit, do
due diligence and settle Hannes Babak’s con-
tract net of this deal.”

Whatever the behind the scenes negotiations
involved, these latest developments continue
to leave Freeport and its economy in limbo,
with seemingly no énd in sight to the GBPA
ownership turmoil and the negative ripple
effects that spew from it.

One source said: “Freeport is a ship dead in
the water. There’s just a generator kicking over
with a few lights and the fridge working. The
engine is dead.”

FROM page 1B

Yet he added that if goods
were “unloaded and reloaded”
in Florida for onward shipping
to the Bahamas, “that could
be an issue” and attract the 7
per cent.tax.

While larger Bahamian busi:
nesses would have the ability
to source product from else-
where, and establish alterna-
tive supply lines outside Flori-
da to circumvent the sales tax,
Mr Pinder pointed out that
small businesses - the lifeblood
of any economy - may not have
that option. Businesses that

sold perishables, especially
food stores, would also have
no choice but to import from
south Florida to prevent their
goods from going off.

And even larger companies
would have to conduct a
cost/benefit analysis to deter-
mine whether it was cheaper
and more cost effective to ship
produce from other US states,
such as Georgia and thé Car-
olinas, rather than Florida, as
shipping costs might exceed
the sales tax effect.

One industry that could be
hit hard if the Florida export
sales tax exemption is repealed

_is the Bahamian shipping

industry, especially the likes of
Tropical Shipping, Pioneer

Shipping, Betty K Agencies
and Seaboard Marine,.which
service this nation solely from
the Florida market.

Acknowledging that the
sales tax exemption’s repeal
could havea “detrimental
effect” on Bahamian business-
es and consumer, Mr Pinder
said: “The retailers in the
Bahamas are likely to pass the
extra costs on to their cus-
tomers, and when prices go up,
sales go down.”

Adding that the impact of
an automatic 7 per cent sales
tax increase would be “sub-
stantial” for the Bahamas, Mr
Pinder said Bahamian con-
sumers would be left with*
“even less money to spend on

other things”.

Dionisio D’Aguilar, the
Bahamas Chamber of Com-
merce’s president, told Tribune
Business yesterday that the
Bahamas and its business com-
munity needed to begin the
lobbying process against the
sales tax exemption’s repeal
“immediately”.

Adding that there seemed
to be “no end in sight” to the
ever-increasing operational
costs Bahamian companies
were having to deal with, Mr
D’ Aguilar said at a time when
costs were rising and revenues
for many businesses were flat
at best due to declines in eco-
nomic activity, the last thing
the Bahamas needed was for

Florida to impose a 7 per cent
tax on all exports.

“Costs are. increasing and
revenues aren’t. We’re caught
in a pincer movement,” Mr
D’ Aguilar said. “You don’t
need a 7 per cent increase in
the cost of goods right now, as
you're getting killed by rising
energy prices. This is going to
put a huge inflationary expense
on our costs across the board.

“It'll be another coal in the
fire fuelling the never-ending
rise in our operating costs. It
seems like there is no end in
sight in this regard.”

Florida’s Taxation and Bud-
get Reform Commission had
passed proposals to repeal all
the state’s sales tax exemptions

- apart from those with public
policy sensitivities - for inclu-
sion on the November 2008
ballot that will be put directly
to voters. rt

Mr Pinder said the ballot
sales tax exemption repeal
needed to be approved by a
minimum 60 per cent of vot-
ers to pass as a constitutional
amendment. Due to its nature.
the exemption’s end does not
have to be approved by Floti-
da’s legislature. 7

If it gets passed, the
Bahamas can lobby for a peti-
tion and Bill to reinstate the
exemption, but this has to be
passed by Florida’s legislature.
creating additional expense
and time.

Â¥

The Tribune

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PAGE 8B, WEDNESDAY, APRIL 2, 2008 | THE TRIBUNE BUSINESS



| WEDNESDAY EVENING APRIL 2, 2008

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Enjoy Great Food, Prizes and Lots of Fun.

MAX-E











TMC