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 )

Downloads

This item has the following downloads:


Full Text


mews iMinmneawm ue
AMY WH) ] a
a

77F | TRIN 3 RIVE Re RIVE



WINDY, SUN
el al oct

————
=
=

Lscoecncceenensimeaneaas

Volume: 104 No.120



Friends with

Benefits

‘SEE ‘WOMAN SECTION’

aU



TUESDAY, APRIL 15, 2008



ribun





BAHAMAS EDITION

=
Ai 7

"MARLINS VERSUS THE COBRAS|



(2 storey yellow building: oa |
ture Styles)”













Sandor Fowler, sought for
questioning in connection
with killing of 86-year-old,
is captured in Fox Hill

SANDOR Fowler, the 33-
year-old man being sought
for questioning in the brutal
killing of 86-year-old Iris
Archer, was captured by
police late Sunday night.

According to police press
liaison officer Walter Evans,
Fowler was arrested in Fox -|.339§
Hill shortly after 9pm.

Fowler was being sought
for questioning in connection
with the gruesome death of
Mrs Archer, who was found
dead in her home shortly
after 1pm on Sunday.

Mrs Archer was found
stabbed to death in her home ~
in Dannottage Estates, and
an attempt had been made
to set her body on fire:

Police on the scene could
neither confirm nor deny that
Mrs Archer had also been
sexually assaulted.

Fowler is expected to be
brought before the courts this
week,

was sure that she did not want
to accompany her to church.
Mrs Archer’s response, her
nieces said, was that she did
not feel well, but that she




| 20-YEAR-OLD Theophilus

Murder: wanted man caugit



Tim Clarke/Tribune staff







Lloyd is escorted to court
yesterday.



According to Mrs Archer’s
nieces Debbie Darville and
Patrice Ferguson, the 86-year-
old lived with her only daugh-
ter Karen Archer-Culmer,
who left the house early on

would be all right athome §

alone.

With no signs of a forced
entry to the home, many
neighbours speculated that
Mrs Archer may have known
her attacker and let him into

| @ By NATARIO
McKENZIE






) A 20-YEAR-OLD man
} was arraigned in Magis-
trate’s Court yesterday





Sunday to attend the Sunday
morning service at St Agnes



her house.
Fowler was reported to

Anglican Church.
Sunday morning was the have been an altar boy at St
only time that Mrs Archer had “48€S some years ago. Mrs
missed a service, her family Archer, it was revealed, was
wae a member of the Anglican
Her daughter reportedly Church Women (ACW) atSt i By KARIN HERIG
had asked Mrs Archer if she 8S: Tribune Staff Reporter

kherig@tribunemedia.net

FINANCIAL analysts have
advised casino operator Isle of
Capri to pull out of the
Bahamas following substantial
revenue losses in the
company’s international opera-
tions.

In what could be another
potential blow to Grand
Bahama’s already weakened
economy, Isle of Capri was told
that it has overestimated its
Florida market and conse-
quently has left its operations
at the Our Lucaya Resort
“under-utilised,” Associated
Press reported yesterday.

The company should there-

Bahamas, analyst Justin Sebas-
tiano of the Morgan Joseph and

Get savings





Analysts advise casino operator
to pull out of the Bahamas



fore move towards leaving the.

built right into
your mortgage

_ with the Fidelity MoneyBack Mortgage _



Zhivargo Laing

Co investment banking firm. -.

said.

Minister of State for Finance
Zhivargo Laing told The Tri-
bune yesterday he is not aware

SEE page six

| charged with the murder of a

.ed and detained for another



man who was found dead
with a bullet to the head in a
church yard earlier this
month.

Theophilus Lloyd, of Sol-
dier Road, appeared before
Chief Magistrate Roger
Gomez charged with the
April 3 murder of Preston
Cooper. Cooper, 41, was
found dead with a bullet to
the head in front of Out-
reach Evangelic Church in
Redland Acres, off Soldier
Road.

Lloyd’s attorney Jerone
Roberts told the court that
his client had initially been
arrested on or about April
7 but had been released after
being detained for more
than 48 hours. ~

Mr Roberts told the court
that his client was re-arrest-























48 hours, which would have’
expired on Friday morning.

Mr Roberts said that
when he had inquired as to

‘SEE page six







Three in court
in connection
with British
toddler’s death

@ By NATARIO McKENZIE

THREE men charged in con-
nection with the death of a British
toddler who was killed by a
speedboat on Paradise Island in
2002 appeared in Supreme Court
yesterday where their attorneys
argued that widespread publici-
ty of the case had prejudiced th
local jury pool.

Attorney Lisa Bostwick, who
appeared along with Henry Bost-
wick QC, submitted that, as a
result of this, their constitutional
right to a fair hearing had been

. infringed.

Boat driver James Alexander
Bain, along with boat owners
Evengeless Williamson and Clif-
ford Nottage, have been charged .
with manslaughter through negli-
gence in the death of two-year-
old Paul Gallagher Jr of Orping-
ton, south-east London.

According to reports, on
August 15, 2002, the Gallaghers,
who had been staying at Atlantis,
were sitting on Cabbage Beach
near a lifeguard tower when a

SEE page six

Private bus firm
has plans to
improve public
transport system

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

A PRIVATE company of inde-
pendent bus franchise holders has
come forward with plans to
improve public transport during
the industry’s 100-day challenge.

The challenge is a part of an
agreement between government
and industry stakeholders to
improve the quality of service
offered as justification for
increased fares sought by bus dri-
vers.

The request for fare increases
results from increased fuel costs,
which are constantly eroding prof-
it margins for drivers and fran-
chise owners.

Harrison Moxey, president of
Unified Transportation Compa-
ny, which comprises nearly 20
independent franchise holders,
declared that “a better day is com-
ing” in the industry yesterday at a

SEE page six

Fidelity
MoneyBack
Mortgage

Call of visit Fidelity today.
Nassau: ¢ 356.7764
Freeport: { 352.6676
Marsh Harbour: ( 367.3135

= FIDELITY

ROU RAL LAER) lad



PAGE 2, TUESDAY, APRIL 15, 2008

THE TRIBUNE



Lea LA LN 2 ae TS a
First Tourism Careers Expo

| touches down in Cat Island




PARES
Tre ss
ea Cos
REVEL

IN AN effort to improve the :





quality of hurricane press cover- :
age as acomplement to measures :
aimed at minimising related dam- :
from 15:
Caribbean countries including the :
Bahamas are attending a region- :
al workshop on the topic running :

age, journalists

from April 14 to 16 in Havana.

Sponsored by Cuba's Jose :
Marti International Institute of :
Journalism and the United ;
Nations Educational, Scientific :
and Cultural Organisation :
(UNESCO), the workshop is :
aimed at meeting the need to cre- :
ate a relevant communication :
strategy as a way to help min- :
imise the number of victims and :
the material losses caused by hur- :

ricanes in the Caribbean.

Keeping populations informed :
and guiding them before, during :
and after the passing of hurri- :
canes is of the utmost importance ;
in minimising the negative effect :
of the storm, the organisers not- :

ed.

They said in a press release :
that professors from the Juan :
Dolset Scientific and Environ- :
ment Journalist Office, experts ;

from the Ministry of Science,

Technology and the Environ-
ment and specialists from the :

General Staff of Civil Defence,

among others, will give lectures
and lead debate sessions as part :
of the academic programme of :

the workshop.

Topics

Climate change, hurricanes in
the Caribbean, the role of the ;
mass media and journalistic prac- :

tices related to the coverage of :

harritanes are some of the topics"

to be dealt with at the event.

Meanwhile, local weather sci- :
entists say they are very con- :
cerned that the Bahamas this :
year could face a turbulent hur- :
ricane season similar to those of :
2004 and 2005, when Grand
Bahama and other islands were :

devastated by major storms.

The newest forecast for the }
2008 Atlantic hurricane season }
predicts that 15 named storms :
will form between June 1 and :

November 30.

Eight of those are predicted to :
become hurricanes and four are :
expected to develop into major :
hurricanes of category three or :

higher.

The renowned Colorado State :
University’s meteorology team :
announced its forecasts for the :
upcoming hurricane season last }
week, increasing its earlier pre- :
dictions of 13 named storms to :

15.

in the United States.

Chief Climatologist at the :
Department of Meteorology :
Michael Stubbs said that this new }
information does not bode well :

for the Bahamas.
“We know what paths hurri-

canes have taken historically.
Although landfall is always diffi- :
cult to predict, the Bahamian }

archipalego is (very vulnerable). :
It doesn’t look good.



Hurricane experts Philip :
Klotzbach and William Gray in }
their report said that they expect :
a “very active” season with an }
above-average probability of a ;
major hurricane making landfall :

CAT Islanders began the
process of “building a produc-
tive workforce through con-
nectivity” with their first ever
island-wide Tourism Careers
Expo.

More than 60 exhibitors rep-
resenting 27 companies from
Cat Island and New Providence

made themselves available to.

students from throughout Cat
Island. The two-day event
included career presentations
from reputable community and
business leaders and tours of
Cat Island’s historic points of
interest.

“This was the biggest repre-
sentation from the industry that
we have ever seen at any fair in
recent years,” said Ruthann
Rolle, manager of Tourism
Youth Awareness in the Min-
istry of Tourism and Aviation.
She also served as chairperson
of the Careers Expo. “Local
exhibitors and the 17 persons
from New Providence hailed
the event an educating one.”

Ms Rolle said that the senior
management team of the Min-
istry of Tourism and Aviation is
also looking forward to sup-
porting similar events on other
islands, after the great success
of Cat Island’s Tourism Career
Expo.

The expo connected students
with professionals from all eight
tourism product sectors —
accommiodations, transporta-
tion, food and beverage, events
and conferences, attractions

- and retail, travel trade, adven- -
ture tourism and tourism ser--"

vices.
There were also exhibitions

STUDENTS LISTEN to presenters during the first ever island-wide Tourism Careers Expo.

by BTVI, the Lyford Cay
Scholarship Foundation, the
Royal Bahamas Defence
Force, the Royal Bahamas
Police Force, the Environmen-
tal Health Department, local
barbers, beauticians, BEC and
BTC.

Seminars

The event began with “career
blitzes”, seminars and a work-
Shop for various grade levels.

- Students from all primary
“schools on the island converged
at New Bight Primary School

and were made aware of the.

importance of tourism to the
Bahamas. Meanwhile, high
school students met for sessions
at Old Bight High School.

Kendall Major, senior man-
ager for communications in the
Ministry of Tourism and Avia-
tion and co-host on the
“Tourism Today” television
show, spoke to the primary
school students and their teach-
ers,

“While there are a wide vari-
ety of jobs available in the
tourism industry, young per-
sons must study and learn as

. much as possible about the



CAREER EXPO presenters and organisers (from left): Ruthann Rolle of Ministry of Tourism, historian
Eris Moncur, Leslie Norville of Ministry of Tourism and Collette Brown and J Armstrong of BTC



FREE DELIVERY ANY WHERE IN NASSAU AND TO THE MAIL BOAT





¢ E-Z CREDIT TERMS AVAILABLE —

| Donald's Furniture —
And Appliance Centre

SIXTH TERRACE CENTREVILLE TEL: 322-1731 OR 322-3875

STORE HOURS:
Monday - Saturday
8:30am - 5:30pm

BILLY’S DREAM





UENO:



islands of the Bahamas so that
they are able to market all of
the wonderful, natural attrib-
utes of our people and our
country to our visitors, in order
to make their vacation experi-
ences as warm and friendly as
possible and to guarantee that
they would return,” Mr Major
said. /

After their discussions, the
primary students toured the
Hermitage at Mt Alvernia and
the Deveaux House plantation
Tuins. Seventh and eighth grade
students also toured the
Deveaux Estate and the Bour-
bon Plantation.

Dereka Moultrie and Craig
Mortimer of the Ministry of
Tourism covered all four objec-
tives for the Bahamas Junior
Certificate course work on
tourism with ninth graders.

In addition, Bahamas Film
Commissioner Craig Woods
told senior high students how
they could prepare for film pro-



duction opportunities and
Monique Hinsey, co-ordinator
of the Lyford Cay Foundation,
told them that there are mil-
lions of dollars in scholarships
available to them.

Adoption

Before the close of the expo,
two Cat Island businesses —
Bridge Inn Restaurant and
Sammy T’s Resort -
announced their official adop-
tion of Old Bight High School
and Arthur’s Town High
School, respectively.

The adoption comes through
the Ministry of Tourism’s Hos-
pitality Opportunities Through
Experiential Learning
(HOTEL) programme, which
allows hotels and other estab-
lishments to provide avenues
for students to gain work expé~
rience and learn about the hos-
pitality industry.

Small plane makes
emergency landing
in South Bimini

rowly escaped injury after engine trouble forced the pilot to
make an emergency landing in South Bimini, The Tribune has

learned.

At around 10am on Sunday morning, the Department of
Civil Aviation in Alice Town, Bimini received word that the twin
engine aircraft was forced to land prematurely after the pilot
noticed that the right engine was smoking.

According to department employee Julia Hanna, a turbo
charger on the right engine started smoking and “blew out”,
however it was not on fire as some early reports indicated.

The plane, which was en route to Ft Lauderdale from Chub
Cay in the Abacos, reportedly landed safely at the South Bimi-

ni Airport, police said.

While the four passengers, the pilot and co- pilot escaped the
harrowing ordeal safely, the plane sustained damage to its right
side and is stil! at the South Bimini Airport.

Just last month, an emergency landing of a Western Air

Airport in Nassau.

plane delayed passengers at Lynden Pindling International

That plane, en route to New Providence from Andros, expe- -
rienced difficulties with its landing gear forcing the pilot to
perform a “precautionary landing,” it was reported.

The 12 passengers on board escaped injury and were evacu-

ated.

USA TODAY MAIN is

seseP 12,8415; 0
te ee



TION PAG :S

“USATE oDAY (SPORT TS SE 1 ON 12 PAGES





THE TRIBUNE

TUESDAY, APRIL 15, 2008, PAGE 3



© In brief

Haiti to get
emergency
food aid
through OAS-
PADF venture



FOOD CRISIS: The OAS’ S Group
of Friends of Haiti met to discuss
the country’s problems. OAS
Assistant Secrétary General Albert
R Ramdin chaired the meeting

AROUND 400 tons of for-
tified rice, worth more than
$1.5 million, is available for
delivery as emergency food
‘aid to Haiti, the Pan American
Development Foundation has
announced.

PADF, an affiliate of the
Organisation of American
States, said the food is espe-
cially aimed at those in great-
est need.

OAS Assistant Secretary
General Albert R Ramdin
chaired the meeting of the
organisation’s Group of
Friends of Haiti, at which
PADF executive director John
Sanbrailo announced the pro-
posed aid package.

Mr Sanbrailo also appealed
to OAS member states and
other interested parties to help
mobilise $200,000 in funds to
underwrite the cost of ship-
ping the rice.

Security

The food would be distrib-
uted largely to schools (under
the school feeding pro-
grammes), health centres for
women and children, hospi-
tals and community groups
operating in Cité Soleil, Bel
Air and other locations where
PADF has programmes, Mr
Sanbrailo explained.

In addition to the food secu-
rity question, Mr Ramdin
identified the need for effi-
cient food distribution systems
to ensure those most in need
receive help, and in that
regard he praised the PAD-
F’s network for aid delivery.

Mr Ramdin also cited
immediate employment
opportunities as a way to help
maintain political and social
stability in Haiti, arguing that
street cleaning projects would
generate useful short-term
employment.

Several member state rep-
resentatives reiterated their
support for urgent action to
mobilise assistance for Haiti,
detailing their respective gov-
ernment’s initiatives, such as
food and security assistance
provided by Brazil, Canada
and other governments.

Solidarity

Bahamian Ambassador C
A Smith conveyed the soli-
darity of the CARICOM gov-
ernments, assuring the Friends
of Haiti meeting that, “We
stand ready to assist in what-
ever way we can.”

On behalf of his govern-
ment, Haiti’s permanent rep-
resentative Ambassador Duly
Brutus thanked the OAS and
PADF as well as member
states and the other interested
partners, for their demonstra-
tion of commitment to his
country.

Mr Ramdin suggested the
“Friends of Haiti,” which
includes OAS member states
and observers as well as key
inter-American institutions
such as the Inter-American
Development Bank and the
Pan American Development
Organisation (PAHO), meet
again before a meeting in
Haiti this coming April 24 and
25 to consider funding for the
government’s National Strat-

OVERSEAS SECURITY ADVISORY COUNCIL ASSESSES BAHAMAS’ AUTHORITIES

Report: Police resources are targeted
more at reaction than deterring crime

POLICE resources in the
Bahamas are generally devoted
to reaction rather than crime
deterrence, charged a recent
report by a US security monitor-
ing organisation.

The Overseas Security Advi-
sory Council (OSAC) made this
assessment of local authorities in
its 2008 Crime and Safety Report
on the Bahamas.

According to the group’s web-
site, the organisation is a Federal
Advisory Committee with a US
government charter to promote
security co-operation between
American business, private sec-

tor interests worldwide and the
US Department of State.

“The police have few emer-
gency vehicles, and streets and
houses are generally unmarked,
inhibiting responders from locat-
ing affected residences,” said the
report. “To ensure quick response
to a residence, victims should go
to the local police post and pro-
vide transportation to the site. If
detained by the police one should
co-operate, identify yourself as
an American citizen and request
to make contact with the US
Embassy immediately.”

Despite this warning to Amer-

ican citizens, the overall report
informs readers that, for the most
part, violent crime in the coun-
try is confined to the local popu-
lation, while noting that authori-
ties respond quicker to com-
plaints that occur at hotels and
tourist establishments.
“Predictably, the vast majority
of crime occurs on crowded New
Providence island. Most violent
crime involves only Bahamian cit-
izens. Although the Bahamas
experienced a record number of
homicides in 2007 (79), nearly all
the victims were Bahamian and
nearly all the murders occurred

‘NOT FIT FOR HUMANS’

Fred Mitchell slams the state of
Environmental Health building

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

AFTER inspecting
deplorable working conditions
that nearly 89 Environmental
Heath staff have to endure ona
daily basis, former Minister of
Foreign Affairs and Public Ser-
vice Fred Mitchell called upon
Minister of State for Finance,
Zhivargo Laing, who is respon-
sible for accommodation, to
immediately provide a better
working environment.

Visiting the building in the
rear of Nassau Court, Mr
Mitchell said he had worked as
a messenger in the office when
he first left high school in 1970.

“The state of the building is
appalling and is certainly not fit
for human habitation or as a
workplace. There is no ade-
quate lighting, no adequate san-
itary facilities and bathrooms.
I am advised that there is
asbestos in the building.

“The staff have to endure
gasoline ‘stored right next to

where they work. The commer-.

cial garbage from the cruise
ships and Bay Street is stored in
front of the building, proximate
to where they have to work.,
“I have spoken to the Minis-
ter of Health directly about
these concerns and he has
promised an immediate inter-
vention,” Mr Mitchell said.
However, Mr Mitchell added

aatieerinneea
Taxi driver’s
body flown
to Nassau
for autopsy

THE body of popular taxi-
driver Benjamin ‘Ben’ Delan-
cy is being flown to Nassau
from Eleuthera for an autop-
sy. Mr Delancy died on Sun-
day - his 67th birthday - when
his cab swerved to avoid an
oncoming car at Hatchet Bay,
where he had just dropped
off a passenger.

He was catapulted from his
seat when the taxi hit a small
“precipice”, throwing open
the driver’s door.

Mr Delancy was thrown
into the air and died on
impact with the road, a
source told The Tribune last
night. “Had he been wearing
a seat-belt, he might have
been saved,” he added. Mr
Delancy, a father of three,
had been a taxi-driver on
Eleuthera for more than 30
years. He was well-known at
North Eleuthera Airport and
Three Island Dock.

He and his wife Minerva
were due to have visited their
daughters - Abigail and
Anastasia - in Alabama to
attend their granddaughter’s
graduation.

Relative and friend Gilbert
Kemp said: “He was looking
forward to it. They used to
spend a couple of months
over there every year. He
was always a good father.”

His son, Wilkinson, lives in
Hatchet Bay. Mr Kemp
added: “Everyone is very
upset about this. Ben was so
popular that a song was
named after him.

“It’s called ‘Ben Went
Fishing All Night’ and is still
played at jumping dance and



UNDER ATTACK: Condition

that blame for this debacle must
lie squarely at the feet of the
minister responsible for accom-
modation, Mr Laing.

“Attention must be paid by
the accommodations minister
immediately to find a satisfac-
tory place for these 89 workers
to be headquartered. Given the
urgent health concerns this must
be done now, not later. I have
pledged to raise the matter in
parliament.

“T have also spoken to John
Pinder, president of the
Bahamas Public Services



S “appalling”.

Union, who is au fait with the
matter, so that this can be
brought to a head. It is a matter
of urgency,” he said.

Workers at the scene yester-
day complained not only of
deplorable conditions inside the
building, but also of the piles of
commercial garbage in front of

. the office left by staff from the

Department of Roads and
Parks. Reportedly, garbage col-
lected from Bay Street is stored
in front of the building until it
can be collected - sometimes
weeks later.

POLICE TO MEET YOU!

MAKING FRIENDS: Police me residents in I EOICrte



AS part of their ongoing effort to reduce crime by building
relationships with the public, officers from the Carmichael Road
Police Station conducted a walkabout on Saturday.

The exercise was carried out in the Golden Gates and Sunshine
Park areas, where a number of residents had expressed concerns

about the crime rate.

Officers arrested one man in connection with the discovery of a
quantity of marijuana, and organised the removal of a number of

unsightly derelict vehicles.

GREETINGS: Police learn of marinas HOMIE

CARPET, FURNITURE, MARBLE & TILE CARE

THE Most THOROUGH RESTORATION & CLEANING Ever, OR THE Jos 1S FREE!
NASSAU'S ONLY PROFESSIONAL, CERTIFIED STONE CARPET & UPHOLSTERY CARE SYSTEMS.

* Carpet, Upholstery, Stone and Marble Cleaning &

Restoration Specialist.

Prochem Cleaning Systems removes Deep & Heavy
Soil, Bacteria, Grease, Watermarks and Stains from
Carpeting & Furniture, restoring them to like new

at a fraction of replacement cost.

Carpet, Sofa’s, Loveseats, Chairs, Dining Chairs, Cars,

Boats, Grout, Tiles, Marble & Stone

on New Providence island in’ Nas-
sau neighborhoods not frequent-
ed by tourists,” said OSAC.

US citizens visiting the
Bahamas are also advised by the
OSAC report to use common
sense to avoid being victims of
crime while in the country.

“Tf you are in an area that
makes you feel uncomfortable or
you do not see other tourists, you
are probably in the wrong area
of town. Visitors should protect
themselves as they would in any
large or major metropolitan city.”

Americans who live in the
country are advised to invest in

home security. Intruders, said the
report, can be deterred by the use
of residential alarms, guards and
a good emergency plan.

“Still, should you be confront-
ed by a group or person demand-
ing money or valuables, you
should comply with their
demands and make the encounter
as brief as possible. Unless pro-
voked, criminals engaged in prop-
erty crimes in the Bahamas do
not generally engage in gratuitous
violence.

“However, in the Bahamas,
many criminals do carry
firearms,” it said.




a Olay Ola am cele MN LLCCLAT LIM ell NVCeA RSIS BO







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.





7 DAYS A WEEK FOR YOUR SHOPPING CONVENIENCE






egy Paper on Growth and
Poverty Reduction.

Established in 1956 by an old Bahamian family

Parliament Street (near Bay St.) Tel: 322-8393 or 328-7157
° Fax: 326-9953

Crystal Court at Atlantis, Paradise Island Tel: 363-4161/2

Harbour Green Shops at Lyford Cay
(next to Lyford Cay Real Estate) Tel: 362-5235

e-mail: info@colesofnassau.com ° P.O. Box N-121

ringplay events on the
island.”

Mr Delancy’s daughters
and their families are expect-
ed to fly to Eleuthera for the
funeral, which will probably
be held at St Catherine’s
Church, Hatchet Bay, next
week.

[ae |

Persian. Wool & Silk Carpet Cleaning Specialist



Marble Polishing, Restoration & Care



Wood Floor Restoration

FOR 3 IN 1 LAWN SERVICE
Fertilizer, Fungicide,
Pest Control



Authorized StoneTech Professional Contractor

CALL PROCHEM BAHAMAS
PHONE: 323-8083 or 323-1594

ONLY WE CAN DO IT RIGHT!

wiwis.prochemsystem.com * www.stonetechpro.com * www.iicre.org
* psp@coralwave.com

~ YOUR LOCAL MEMBER OF THE-

PROCHEM SYSTEM (sm)

MU PCM TE Ley
322-2157









PAGE 4, TUESDAY, APRIL 15, 2008

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE





The Tribune Limited



NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI



Being Bound to Swear to The Dogmas of No Master
LEON E. H. DUPUCH, Publisher/Editor 1903-1914

SIR ETIENNE DUPUCH, Kt, O.B.E., K.M,, K.C.S.G.,
(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972



Contributing Editor 1972-1991

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

Published Daily Monday to Saturday
Shirley Street, PO. Box N-3207, Nassau, Bahamas

Publisher/Editor 1972-

Insurance Management Building., P.O. F-485, Freeport, Grand Bahama

A mathematical disaster



THE failure of government schools in the

’ Bahamas to do their duty by the new generation is

spelled out all too clearly in a new study of the
nation’s secondary education system.

The disclosure that 82 per cent of students at
public schools have no basic “literacy” in mathe-
matics is shocking. It means that most young
Bahamians do not even possess the kind of numer-
ical prowess required to work out the weekly shop-
ping bill. a

Even when private schools are factored into
the equation, the mathematical “illiteracy” rate
still stands at 59 per cent - hardly a statistic to give
parents a warm and cosy feeling about their chil-
dren’s achievements in one of the two really vital
core subjects.

Not knowing basic mathematics is almost as
disabling as not knowing basic English. It is so
central to a normal, fruitful life that its absence is
almost akin to having only one leg, or one eye.

The findings, in a study by scholar Ralph
Massey, point once more to a long, downward
spiral in educational standards that does not augur
well for the future of the Bahamas. It is conceivable
- in fact, more than likely - that the next 20 years
will see this nation condemned to a level of scholas-
tic mediocrity that could seriously undermine its
economic future.

It was all so different 40 years: ago when the
PLP set its sights on higher education standards for
all Bahamians. The late Minister of Education
Cecil Wallace-Whitfield had a clear vision of where
The Bahamas needed to be academically. In fact,
educational advancement was seen as imperative
if the Bahamian people were to enjoy the full
fruits of self-determination and social progress.

However, the bitter truth is that we are even
more seriously adrift from those objectives than we
were then. Today, The Bahamas is in serious dan-
ger of producing a 21st century populace of illit-

erates, innumerates and ignoramuses with a serious

shortfall in all the basic areas of knowledge.

Though it profits no-one to harken back to colo-
nial times, it has to be said that those who had
the good fortune to pass through a school like
Government High in the 1950s and 1960s emerged
with a sound command of the three Rs - reading,
writing and what was jokingly known as ’rithmat-
ic.

They were ready to enter the workplace, take
advantage of demanding apprenticeships, and
emerge. a few years later as fully-trained trades-
people or professionals.

Many GHS students went on to good universi-
ties and did well in white-collar occupations. Oth-
ers were savvy enough to launch their own busi-

nesses and prosper mightily over the years since-

then.

Since 1967, however, despite all good inten-
tions, educational standards have sagged alarm-
ingly, opening up a yawning gap between what’s on
offer on the “exclusive” campuses of the best pri-
vate schools, and the sometimes appalling stan-
dards in the state school compounds.

Though teachers are invariably targeted as cul-
prits in this decline, we suspect that the profession
is as conscientious and committed as it ever was.

However, their job has changed dramatically
over the years, and salaries have never kept pace
with their burgeoning responsibilities.



Quality Auto Sales

PRE-OWNED
CARS & TRUCKS

For the best deal in town on
pre-owned cars, with warranty!

NOW IN
STOCK

‘00 HYUNDAI ACCENT
‘01 HYUNDAI COUPE
‘04 HYUNDAI SANTA FE

Very low mileage, very clean

‘O06 HYUNDAI ELANTRA Very clean
‘06 HYUNDAI TUSCON GLS
‘99 SUZUKI GRAND VITARA 3dr

In today’s irresponsible and unaccountable soci-
ety, teachers are expected to take on many of the
duties that once fell to parents.

They do more than teach. They have to become
psychologists, psychiatrists, nursemaids, discipli-
narians and role models, too.

And all in an environment that is becoming |

increasingly hostile, with youngsters turning to
violence in their attempts to gain power in the
playgrounds.

Fired up by the appalling influence of the elec-
tronic media - that is, television, movies and com-
puters - many non-academic students see knives
and sometimes guns as equalising agents in an

environment which offers no status and little rea- ~

son for self-esteem.
Their disruptive impact on their colleagues, and

- the educational process itself, must lead to many of

the abysmal exam results schools are experiencing
today.

It is impossible for any teacher, however tough,
to impart knowledge effectively to even the most
receptive of pupils if their classes are polluted by
louts hell-bent on making life a misery.

No wonder so many teachers fall victim to the
stresses and frustrations of an increasingly thank-
less task. It’s amazing that the profession has any
recruits at all, given that some campuses have to
take on characteritsics of the Gulag just to remain
functional. The real problem of declining educa-
tional standards begins, of course, where most

other social difficulties are spawned: in the home. .

The more mothers and fathers turn their backs
on the responsibilities of parenting, the more chil-
dren have to contend with the traumas of deadbeat
homes, the greater will be the task of elevating edu-
cational standards to anything like an acceptable
level.

Somehow, we must get back to instilling in chil-
dren the realisation that education is not just vital
to their future well-being as functioning members
of society, it is also the means by which they can
achieve a level of serenity and satisfaction in their
lives.

It isn’t just about getting qualified for a highly-
paid job. It is about mental enrichment and the joy
that brings in one’s everyday life.

Any child leaving school without basic mathe-
matics, or a rudimentary understanding of our
great language, is severely handicapped from day
one in the wider society.

Trying to forge a productive life for oneself

’ without any of the tools needed for the job is like

trying to reach space without a rocket, or the
seabed without a submarine. It can’t be done.

Poor education creates more than a fundamen-
tally dissatisfied, unproductive population. It also
creates criminals, those whose intellectual short-
comings leave them with few options but to pick up
a gun.

Mr Massey’s research ought to echo resound-
ingly in the head of every politician this morning.

Whatever spin respective parties like to put on
this most important of issues, they cannot evade
what has now become dazzlingly obvious: that
successive governments have let down our children
very ba ‘lly indeed.

It is now time to devise a strategy to reverse the
errors of the past and put Bahamas education
back on track.










DESIGN

















PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that |, DOUGLAS URAL _MCKINZIE
of Perpal Tract, West Bay St., Nassau, Bahamas, intend to
change my name to DOUGLAS URAL GIBSON. If there are any
objections to this change of name by Deed Poll, you may write
such objections to the Chief Passport Officer, RO.Box N-742,
Nassau, Bahamas no later than thirty (30) days after the date of
the publication of this notice.

ENGINEERING
COMPETITIVE PRICING

The utility
companies must
treat complaints

more seriously

EDITOR, The Tribune.

AS corporate citizens go, the
power and utility companies
appear not to be very honest
brokers. In my opinion the con-
sumer seems to be regarded, by
them, as an unequal part of the
equation that, if they have to,
they feel they can do without.
This is obviously not so, of
course, because without us they
would have no need for the
water and power they produce;
but this is how they make us
feel. Why have I come to this
conclusion?

As consumers of the products
these utility companies produce,
we consider ourselves partners
with them and not merely num-
bers that make up their yearly
statistics.

Most water and electricity
users expect, and are prepared,
to pay the cost for whatever
quantities of these products
they consume; what they don’t
wish to pay for are the kilowatts
of electricity and gallons of
water they didn’t use, but for
which they are being billed.

' Very often bills are rendered
showing amounts that are gross-
ly out of the norm and which
utility company personnel know
to be ultra unusual.

A quick search of the con-
sumer’s history of usage tells
them, immediately, that some-
thing is wrong and that the
client should be called to their
office for some kind of dialogue
before bills are just simply sent
in the mail.

If we were regarded as part-
ners and not just statistics, they
would do this kind of public
relations, as part of their
“modus operandi” and avoid all
the mistrust the public has of
them. I have three stories to tell,
which can be duplicated many
times over during the course of

’ amonth. The first story is about

a couple that lived in a two-bed-
room apartment in Kings Bay
condo for many years. Their
power bill, for all those years,
remained constant between
$225-$265 monthly. One month
they were shocked to receive a
bill for more than $500. They
appealed to every authority at
the establishment, but in the
end were made to pay the full
amount. Company personnel
did, in fact, do some meter test-
ing but reported nothing wrong
with their equipment.

The following month and all
the subsequent, months and











WOOD AND COLD-FORMED STEEL
TRUSSES

FAST BIDDING INFORMATION




LETTERS

letters@tribunemedia.net



years afterwards the billings

‘went back to ‘the average of

$225-$265 and remained. The
many years of history of usage,
by that couple, meant nothing
to the company and for your
information, that couple was
yours truly and his wife.

The second story.involves a
friend of mine who has two
houses; he lives in one and
keeps the other unoccupied. He
recently received bills for elec-
tricity $500 plus and
water/garbage more than $200.
Nobody lives at the address,
water pipes are not leaking and
there is no justification for those
amounts, which should be the
minimums.

Like all other complaints
though, they fall on deaf ears
and most people, not knowing
where to turn or who to turn to
next, get disgusted and just pay,
because they wish not to lose
the service. They have, all of us
over a barrel.

The third story is about a
friend of a friend, who received
a $2500 water bill. Naturally he,
as angry as a hornet, showed up
at the utility office to complain.
Certain investigations were car-
ried out but in the end he was
left stuck with paying the
charges.

No leaky or broken pipes
were discovered and checks of
the water meter, revealed noth-
ing out’ of order.

They asked the gentleman to

‘pay $500 on deposit and

arrangements were made for
the remainder to be paid in
installments.

Turning away disappointed,
the gentleman could not believe
he used that much water in a
month, especially that there

were no signs of leakage any-
where. He decided to appeal to
the utility company and found a
sympatheticear. |

The decision was to test the
situation from a somewhat sci-
entific point of view and see
what resulted. What they did
was to take into consideration
the diameter of the pipe carry-
ing the water to his house and
measure the maximum amount
of water which can possibly pass
through the pipe on a twenty-
four hour per day basis with the
valve fully opened; then multi-
ply that amount by the number
of days billed.

What they discovered was
that the man couldn’t use that
much water, under those ideal
conditions in several months of
flowing.

They made the necessary
arrangements to adjust his bill
to his average usage.

‘Good corporate citizens tend
to be good partners with their
clientele.

I call on the Grand Bahama
Power Company and the Grand
Bahama Utility Company to
begin to do the right thing.

Begin to treat complaints
from consumers seriously, and
not as a bother and/or a nui-
sance.

We are not all looking to get
something for nothing; most of
us wish to pay our share but we
don’t want to pay somebody
else’s.

_In addition, these frequent
electrical outages are ruining
our appliances and computers,
what is being done about that?
We need to get a serious dia-
logue going here. Until next
time, those are my views.

FORRESTER

J CARROLL JP
Freeport, :

Grand Bahama |
Bahamas March 24, 2008.

Astounded by public
garbage dump burning

EDITOR, The Tribune.

On Friday, February 23rd, I saw an alarmingly large cloud
looming over the western end of New Providence.
Later, I was astounded to discover that it was the public garbage

dump burning.

As I was driving through Cable Beach the following Saturday
morning there was a highly toxic odour which forced me to roll up

my car windows.

In my country, burning garbage has been forbidden for the
past 30 years which is why I was so shocked to learn that this is an
acceptable practice in The Bahamas.

Incineration and recycling are the preferred methods of waste dis-

posal.

Not to mention that the detrimental health effects caused by open

air burning are well documented.

I would urge the citizens of The Bahamas to contact their local
MP with respect to this matter as well as asking those Ministers
responsible for the Environment to resolve this problem in the
health interests of not only Nassau's residents but also its tourists.

A CONCERNED FOREIGN RESIDENT
Nassau,
February, 2008

30% - 50%

Off

STOREWIDE SALE



SAVVY BOUTIQUE

Prom
Dresses,
Formal Wear




‘02 SUZUKI GRAND VITARA 5dr
‘03 SUZUKI BALENO #3
‘95 TOYOTA AVALON

361-7764

Road to City Dump after Premix
Email:ggongora@coralwave.com




Between Johns and
Indulgence Shoe Stores

a



& Rosetta St. Palmdale

Accessories

Ph: 322-5773

AUTHORIZED
MANUFACTURER



ar Abaco Motor Mall, Don MacKay Bivd, 367-2916





THE TRIBUNE

TUESDAY, APRIL 15, 2008, PAGE 5



PS re ee a ee eee
Department of Immigration

launches electronic ID cards



In brief

Bahamas Ferries |

announces a
ticket agency

agreement with
local retail outlet

BAHAMAS Ferries, the
inter-island marine trans-
portation service provider,
has announced a new part-
nership with the retail dis-
tribution outlet Hip Hop
City Ltd to sell passenger
ferry tickets.

The company said the
move will eventually lead
to the widespread distribu-
tion of its tickets to the
public through ticket and
travel agencies. :

At the moment, tickets
can only be bought at the
Potter’s Cay Terminal or
over the internet.

“We are excited about
these new and future rela-
tionships because it will
provide our customers
with the added conve-
nience of several different
locations other than our
Potter’s Cay Terminal to
purchase tickets,” said Joy
Russell, customer service
manager for the company.

Hip Hop City is located
in the Soldier Road Shop-
ping Centre.:

Kingsway Academy

‘Fiesta’ to feature
fashion show, live
entertainment

A FASHION show and
live entertainment will
feature at Kingsway
Academy’s ‘Fiesta’ in the
school grounds at Bernard
Road on Saturday.

A bouncing castle, pony
rides, hoopla and clowns
will also be part of the
family fun at the all-day
even, organised by the
Parent-Teacher Associa-
tion.

Reggaeton
musician is
missing after

hotched attempt :

to flee Cuba

@ MIAMI

FRIENDS and family of
Cuban rapper and Reggaeton
artist Elvis Manuel held out
hope Monday that he was alive,
one week after he reportedly
disappeared trying to cross the
Florida straits in a failed human
smuggling operation, according
to Associated Press.

Part of the confusion over
Manuel’s whereabouts came
from his own mother and about
a dozen other Cubans who were
picked up Wednesday by the
U.S. Coast Guard after their
boat capsized and who gave
conflicting accounts of their voy-
age. Nearly all were repatriat-
ed to Cuba on Saturday.

Two alleged smugglers were
taken into federal custody, fed-
eral officials said but declined
to give details, citing the ongoing
investigation.

Coast Guard Petty Officer
Dana Warr said the lack of reli-
able information hindered their
search and may have risked the
life of Manuel.

“To protect smugglers and
allow your own family to drift
aimlessly at sea is incredible,”
Warr said.

The Coast Guard sent a plane
to search for Manuel and others
Friday with no results. On Mon-
day, its boats were still on alert
but the official search was called
off.

‘According to the Coast guard,
Manuel’s mother Irioska Maria
Nodarse and the other migrants
initially told officers they left
the island Sunday night and that
their craft capsized early Mon-
day. The group was picked up
by a smuggling. boat, which also
capsized, the migrants said. As
they clung to the sides of the
twin-engine, 25-foot catamaran,
a cargo boat rescued them and
sent word to the Coast Guard,
which quickly arrived.

;

TROPICAL
rss ea

RULE
PHONE: 322-2157







oN.
DIRECTOR OF Immigration Vernon Burrows
said the system would enable the Department ‘to
protect our country’s borders from illegal immi-
gration, criminals, terrorist activities and an illic-
it workforce’.



THE Department of Immigration has
launched its fully integrated system for the
issuance of electronic identification cards.

The cards will be issued to holders of work
permits, permanent residence certificates, per-
mits to reside, home owners and resident
spouse permit holders.

According to the government, the system
will also greatly enhance the processing of
immigration documents, “and improve the
efficiency and effectiveness of the services
rendered by the Department of Immigration
to the public.”

Persons applying for permits must present
themselves to the department to be finger-
printed and to sign off on their permits.

“The safety of the travelling public and the
protection of national borders are now a pri-
ority to countries around the globe. Govern-
ments are advocating, and putting in place,
fraud proof electronic systems that cannot
easily be compromised by persons engaged
in illicit activities,” said the department in a
statement. “These systems help to more effec-
tively protect the borders in the interest of
national security.”

“The electronic identification card system of
the Department of Immigration brings the

department in line with international devel-
opments in this area. The electronic cards will
make it possible for the Department of Immi-
gration to better manage border clearance,
monitor persons placed on the restricted and
stop lists and more effectively deal with appre-
hension and deportation matters,” it said.

Prior to the implementation of the system,
Indusa, a company with experience in elec-
tronic border control systems based in
Greenville, South Carolina, reportedly worked
closely with the management at the depart-
ment to design, install and put the system
into operation. Familiarization seminars and
training sessions were conducted to prepare
staff to manage the system.

Director of Immigration Vernon Burrows,
said “we decided to implement a chip-based e-
ID solution with facial scans and fingerprints,

System ‘will greatly enhance
processing of documents’

and a border control system that tags each
passport holder with his immigration card.
This would enable the Department to protect
our country’s borders from illegal immigra-
tion, criminals, terrorist activities and an illic-
it workforce”. 5

The government said the biometric-based
system will allow the department to efficient-
ly and effectively monitor persons who enter
the Bahamas as visitors, residents or to take up
employment in the country.

As the department adjusts to its new system,
the director asked the public to “kindly exer-

’ cise patience” in immigration clearance areas

at ports of entry and at the department head-
quarters, “as the officers and staff endeavour
to improve their service to the public. The
department thanks the public for its under-
standing.”

Bahamas to host World Blind Union’s North
America and Caribbean Division Meeting

@ By LLONELLA GILBERT

THE Bahamas will host the
World Blind Union’s North
America and Caribbean Divi-
sion meeting on April 17 and 18
at the Wyndham Nassau and
Crystal Palace Resort.

This announcement was made
by president of the Bahamas
Alliance for the Blind and Visu-
ally Impaired Desmond Brown.

Mr Brown said regional lead-
ers, policymakers, programme
designers and providers of spe-
cial services for the blind will
meet to discuss issues that
impact the lives of blind and
visually impaired individuals.

He explained that the WBU
is a non-political, non-religious,
non-governmental and non-prof-
it organisation representing
more than 160 million persons
who are blind or have partial
sight in over 170 countries.

“It is internationally recog-
nised as the organisation speak-
ing on behalf of blind and par-
tially sighted persons in the
world,” he said. ;

Mr Brown said this is the sec-
ond time in nine months that the
Bahamas has been asked to host
a regional meeting.

Delegates

In July 2007, the alliance and
the Salvation Army hosted the

noted, “that 600 million or 10



lion.

blind rises by one to two mil-

Tim Aylen/BIS

DESMOND BROWN, president Bahamas Alliance for the Blind and Visually Impaired, speaks using a braille speech as other committee members
look on during the press conference

tourist destination. '
He also announced that th

without proper statistical data.
“Realising the urgency of cor-

Caribbean Council for the Blind-
’s annual general meeting where
delegates charted the course of
the organisation for the next 24
months.

“In hosting these meetings
and conferences the Alliance
seeks and urges individuals,
organisations and agencies to
develop and forge stronger rela-
tionships with these interna-
tional and regional partners pro-
moting the sharing of ideas,
information, technology, et
cetera,” he explained.

He said attendees discuss
issues that will positively affect
the lives of blind and visually
impaired persons in the
Bahamas.

Mr Brown said another
important reason for hosting
these meetings and seminars is
that by doing so, the alliance is
promoting the country asa

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

star.

Alliance will be celebrating its
11th anniversary with a week of
activities which began on Sun-
day, April 13.

There was a church service at
St Marks Baptist Church on
April 13, and the official opening
of BABVI office will be held at
the Salvation Army Adult Blind
Workshop Building, Ivanhoe
Road on April 16.

Opportunity

Undersecretary in the Min-
istry of Social Development
Alan, Strachan said the ministry
welcomes the opportunity to join
hands with the Bahamas
Alliance for the Blind as it pre-
pares to host the upcoming
meeting of the WBU.

“Tt is estimated,” Mr Strachan

Young woman dubbed the
Bahamas’ first porn star

A YOUNG Bahamian woman who attended Nassau’s top two
independent schools has been dubbed the country’s first porn

The description has appeared on an X-rated website which
showed her engaging in explicit sex acts.

per cent of the world’s popula-
tion are living with disabilities,
and according to the World
Health Organisation over 45 mil-
lion of these individuals are
blind; 1.4 million are children,
124 million are categorised as
low vision and 135 million
are diagnosed as visually-
impaired.

“Every five seconds an indi-
vidual in our world goes blind,
every single minute a child goes
blind, and every year the num-
ber of persons becoming totally

“Tt is also estimated that with-

out intervention the number of
blind persons will increase to 75
million by the year 2020,” he
said. ;

“The good news however,

is that 75 per cent of
blindness is either treatable or
preventable.”

Mr Strachan said that in the
Bahamas, it is impossible to pro-
vide much needed programmes
and services for the disabled in
an efficient and effective manner



545

SRADER HOLDS
o) -oy-\ ease



recting this deficiency, the Dis-
ability Affairs Division of the
Department of Social Services
has initiated a nationwide reg-
istration drive to develop a
National Registry of all persons
with Disabilities living in the
Bahamas.”

He said the information
obtained will also assist non-gov-
ernmental organisations such as
the Bahamas Alliance for the
Blind in accomplishing their
objectives.

The site, which describes her as the first such star in the
Bahamas, refers to the Bahamian as 19-year-old ‘Sloane’, an ass-
sumed name.

Sources have confirmed to The Tribune the real name of the
woman, that she is Bahamian and that she was a former student
of both Queen's College and St Andrew’s.

‘Sloane’ features on another website, which bills itself as a
local ‘swingers’ club.. _

The Bahamas is featured when ‘Sloane’ is mentioned online.
One portion of the site is entitled ‘Sloane in the Bahamas’,
and shows the woman posing in a bikini on the beach.

She is topless in one picture, and appears to be at The Clois-
ters on Paradise Island in another.

A website citing figures from 2006 places worldwide pornog-
raphy revenues at $96 billion. The data also indicates that there
are some 4.2 million pornography websites, 420 million porn
pages, 68 million daily pornographic search engine requests,
along with some 2.5 billion daily pornographic e-mails.

According to the website, 42.7 per cent of. Internet users
view pornography.

He doesn't know it yet. All he needs is someone to inspire him to cause an effect. That's why
Nova Southeastern University’s Fischler School was created more than 35 years ago. Our
ideas, our approach and our programs are all founded ona simple belief — when you inspire
people to learn, you inspire them to change the world. Earn your bachelor’s, master’s, or
doctoral degree in education online or on-site in the Bahamas.



ATTEND AN INFORMATION MEETING TO LEARN MORE:
Tuesday, April 15, 2008, at 6:00 p.m.

| Saturday, April 19, 2008, at 10:30 a.m.
Nova Southeastern University
c/o Bahamas Baptist Community College
8 Jean Street Gleniston Gardens

N OV. A SOUTHEASTERN FISCHLER SCHOOL

OF EDUCATION & HUMAN SERVICES.

> Are you ready to cause aneffect? » 242-364-6766 » FischlerSchool.nova.edu/Bahamas



theast
r, Gao:

origin, * Noy











PAGE 6, TUESDAY, APRIL 15, 2008

THE TRIBUNE



Three in court
in connection
with British

toiler’s death

FROM page one

speedboat pulling an inflatable
banana float lost control and :

sped on to the sand.

Paul Gallagher Jr., who was :
asleep on a deckchair at the :
time, was struck by the boat and
died as a result of severe head :
injuries a few days later. Since :
the death of their son, father :
Paul and his wife Andrea Gal- ;
lagher have been campaigning :
to have those responsible for :
their son’s death held liable in :

the courts.

After the toddler’s death was
initially ruled an accident in a :
2003 Coroner’s Inquest, the :

Gallaghers pushed to have the
investigation reopened and sub-
sequently manslaughter charges
were brought against the three
men now standing trial.

In her submissions before Jus-
tice Elliot Lockhart, Ms Bost-
wick claimed that the minds of
the jurors had been prejudiced
by local media reports on the
matter.

Highlighting some of the
reports, Ms Bostwick said there
was a suggestion that the men
were guilty of the offence.

Justice Lockhart, however,
said that in the reports he found
nothing to advance the case of
negligence and that with proper
directions to the jury the rights
of the accused men would be
safeguarded against any poten-
tial prejudices.

The trial is expected to begin
at 10am today.

Casino operator advised
to pull out of Bahamas

FROM page one

of this situation and has not received
any communication from the Isle of
Capri in regards to this financial advice
by the Morgan Joseph analyst.

Mr Laing added that although the gov-
ernment has been subsidising operations
at the casino for some time now, there
has been no indication that Isle Capri
has any intentions of pulling out of the
Our Lucaya Resort.

He also pointed out that just because
analysts may have recommended the clo-
sure of operations in Grand Bahama,

this does not necessarily mean that Isle
of Capri will heed the advice.

However, Mr Laing said that anytime
that an economic entity plans to down-
size or close down operations, it is a mat-
ter of concern for the country — espe-
cially in Grand Bahama, where people
have endured a very sluggish economy
for the past six years.

The Associated Press reported yester-
day that Isle of Capri Casino Inc’s shares
dropped after analyst Mr Sebastiano said
that the casino operator is facing strong
competition in most of its markets and

should exit its international operations. °

In addition to pulling out of the Unit-

ed Kingdom, Mr Sebastiano also advised
Isle of Capri to exit its Bahamian oper-
ations.

The analyst in a client note said that
Isle of Capri looked at the Bahamas as a
way to cross-market to its Pompano Park
customers in Florida. However, the com-
pany’s over-assessment of the Florida
market has left the Bahamas under-
utilised, he said.

Robert Griffin, senior vice-president of

operations at Isle of Capri, said last
month that international operations con-
tinue to lose money and that his compa-
ny will re-evaluate its entities outside of
the US in an effort to improve cash flow.

Last month Tribune Business reported
that Isle of Capri’s Grand Bahama casi-
no Saw its net operating loss for the quar-
ter to January 27, 2008, drop by 52

er cent from $349,000 in 2007 to
169,000.
However, Isle of Capri said that the
’ casino at the Our Lucaya Resort turned
in a relatively flat revenue performance
for its fiscal 2008 third quarter and that
total revenues for the first three quarters
of the current fiscal year were down
some 6.8 per cent, standing at $10.79
million compared to $11.579 million in
the previous year, which ended in April,
2007

FROM page one

press conference at the Chamber
of Commerce.

The company was created to
bring together private owners to
alleviate chronic inadequacies in
public transportation which stake-
holders felt were not being
addressed.

There are no time schedules for
buses, insufficient bus stop mark-
ings, inadequate bus stop shelters
and regular complaints about dan-
gerous driving by public sector bus
drivers.

During the period for the chal-
lenge, UTC is implementing a pilot
project in the eastern district.

Fare box rules will be enforced,
said Mr Moxey, and the public will
be encouraged to produce correct

change for fares, as drivers will

Bi oviserlit)
HELP WANTED

Private citizen invites applications for the position of:

Homecare Assistant

You must possess a good working attitude, pleasant
disposition, be trustworthy and Kind- hearted.

Elderly couple in Cherokee Sound, Kbaco: requires
a live-in, homecare assistant who can provide the
highest level of quality care with warmth and

compassion.

Interested applicants please forward your resume to:-

Fax: (242) 366-2121

or
P.O. Box EE-15715
Nassau, Bahamas

Nursing experience is preferred but not a must.
Attractive compensation package offered..







qualifications:





Senior Client Advisor

‘The successful candidate should possess the following



ROYAL BANK OF CANADA WEALTH MANAGEMENT
is considering suitable applications for

¢ MBA or Law Degree (preferred)
e 3-5 years experience in providing advice & sountians



Private bus firm

not be providing change.

Additionally, a model route will
be established along with time
scheduling for buses, and route
monitoring of drivers to ensure
proper practices are being fol-
lowed. Those who violate the rules
will face sanctions, including sus-
pension, the company said.

UTC began with 5,000 shares
and it is looking to add more
stakeholders to the company, said
Jamal Davis, vice-president and
legal counsel of the company,
through a new private offering.

The company also has a mar-
keting arm, which seeks to explore
promotional ventures such as using
the sides of buses to sell ads, to
increase revenues.

Mr Moxey and a team of offi-
cers from the company also dis-
played to the media plans for the
creation of bus new bus stop shel-
ters, mini-bus terminals with con-
cession stands and a full bus ter-
minal.

These infrastructural sugges-
tions for improvement of the
industry will not be implemented
during the challenge, noted Mr
Moxey, but are. intended as ideas
for the overall upgrade of the
industry.

Along with the increase in fuel
charges that diminishes profit mar-
gins for stakeholders, bus drivers
have also lost a tax exemption at
the beginning of this year on the
importation of new vehicles.

The cost of new vehicles has
consequently increased by about
$20,000.



Es

THIS 'S ACE REPORTER
TAMAL PicksToCK FOR
TINGUM NEWS, ToDAy

WE/RE TALKING ABOUT





a
J



ME, SIK, BUT CATV

DOVOV THINK [Ss THE
REAS OL BEHIND A121 T
CRIME ALL TH



20-year-old charged
with shooting death

FROM page one

why Lloyd was being detained
again, an order based on a sum-
mons filed on Saturday was
shown to him. »

Mr Roberts questioned how
it was possible to have an order
filed on a Saturday.

He said officers involved in
the investigation had
been unco-operative with him
and that his client had
been beaten while in police cus-
tody.

Mr Roberts also told the
court that his client had always



TELL US, WHAT






WORK

TEEF [00 O01 Aes OUT
my CHECK, TALK)?

maintained that he knew noth-
ing about Cooper’s murder and
had received threats stating that
should he make it to the west-
ern section of Her Majesty’s
Prison there was something
waiting there for him.

Mr Roberts asked that his
client be remanded to the
Detention Centre instead and
also made a request for bail.

Chief Magistrate Gomez not-
ed Mr Roberts’ objections.
Lloyd was remanded to Her
Majesty’s Prison. His case has
been adjourned to May 20 and
transferred to Court 11, Nassau
Street.

aieunac uni

Literacy Awards
presentation
ceremony is
announced

SENIOR Education Offi-
cer at the Ministry of Educa-
tion, Youth, Sports and Cul-
ture and chairman of the Min-
ister's Awards Committee
William Rahming announced
yesterday the first ever Liter-
acy Awards Presentation Cer-
emony for second-graders.

The event will take place at
the Church of God of Prophe-
cy Tabernacle on East Street
on Thursday, April 17 at
10am.

The top scorers and schools
from throughout the Bahamas
will be presented with mophies
and books.

Mr Rahming noted that the
11 top scoring students are
from the Family Islands.



US-friendly Berlusconi wins is Italy’ 3 election, heads into third stint as leader

m@ ROME

to high net worth clients
¢ Knowledge of Wealth Advisory financial solutions.
Mutual funds license or CSC (preferred)
e Financial planning designation (CFP or PFP





his business dealings.
During his last time as premier, Berlusconi
served a record-setting five years until his 2006

Italy’s stagnating economy and the unpopular-
ity of Romano Prodi’s government.
“T think it was a vote against the performance





MEDIA BILLIONAIRE Silvio Berlusconi





designation) won a decisive victory Monday in Italy’s parlia- of the Prodi government in the last two years,” | defeat. He made notable international gaffes
¢ Excellent relationship management and client mentary election, setting the colorful conserva- ._ said Franco Pavoncello, a political science pro- _as well as unpopular decisions at home, such
service skills tive and staunch U.S. ally on course to his third fessor at Rome’s John Cabot University. as sending 3,000 soldiers to Iraq despite wide-





spread opposition among Italians. The Iraq con-
tingent was withdrawn after his 2006 ballot loss,
and he has ruled out sending any more troops
there. But his friendship with the United States
is not in doubt.

Berlusconi once said he agreed with the Unit-
ed States regardless of Washington’s position.
He calls President Bush a friend, and his return
to power is likely to make relations with Wash-
ington warmer, no matter who becomes the
next American president.

“Berlusconi won because he has a strong coali-
tion and because people feel that on the other
side, the government is going to take them
nowhere.” :
This was Berlusconi’s fifth consecutive nation-
al election campaign since 1994, when he stepped
into politics from his media empire, currently
estimated to be worth $9.4 billion. He has fend-
ed off challenges to his leadership by conserva-
tive allies, withstood accusations of conflict of
interest and survived criminal trials linked to

stint as premier, according to Associated Press.

The victory in voting Sunday and Monday
by parties supporting the 71-year-old Berlus-
coni avenged his loss two years ago to a center-
left coalition.

“I’m moved. I feel a great responsibility,” he
said in a phone call to RAI public television
while monitoring election results at his villa out-

_ Side Milan. Italian news agencies said he had a
private dinner with key aides.

Berlusconi capitalized on discontent over

Alternative Dispute Resolution (ADR)

negotiation and mediation skills workshop
in Nassau, May 20-23, 2008.

“Exciting! This course provided skills to handle disputes in professional and personal
settings. The info that | learned in this course will be beneficial in my workplace.”



¢ Previous Private Banking experience required.



Response include:

e Create and manage a portfolio of High Net Worth
clients

Relationship Management and growth of long- ©
term profitable client relationships

Coordinate Annual Reviews

e Ensure full HNW enterprise value proposition is
offered at least once a year

Ensure client satisfaction, client loyalty-and client
retention

Identify client needs in order to present unbiased
enterprise solutions independently or through a
supporting team of HNW professionals



















e learn how to deal with tough bargainers
¢ learn how to mediate disputes
* receive individual coaching in mediation

Interested persons should apply by Monday,
April 21, 2008 to Elizabeth Dorsch.





Please apply to:




Elizabeth Dorsch
Royal Bank of Canada Wealth Management
PO. Box N-3024

Nassau, N.P Bahamas

Dorothy Hepburn, Princess Margaret Hospital, Nassau
1-800-389-0435 or 416-307-0007 www.adrworkshops.com




To learn more: contact@adr.ca








Via fax: (242)327-7382

i il: eli E Certificat
Via email: elizabeth.dorsch@rbc.com arLa vertticate

from the University
of Windsor Law
School when you
complete the four
day program.



RBC > HELPING YOU SUCCEED

Ka Royal Bank

RY of Canada

ORC ERC a En en eee Re Can eee eae eT)





THE TRIBUNE

TUESDAY, APRIL 15, 2008, PAGE 7





In brief

US Coast Guard
monitoring
unrest in Haiti

U.S. COAST GUARD offi-
cials are closely monitoring
events in Haiti on the chance
that recent unrest on the
impoverished island might
trigger a new wave of boat
people trying to flee toward
Florida, according to Cox
News Service.

“Our patrols are at their
normal levels, but when we
have unrest we watch careful-
ly to make sure we stay out
front of any developing situa-
tions,” Chief Petty Officer
Dana Warr of the Seventh
Coast Guard District in Mia-
mi said Monday.

So far, Coast Guard patrol
cutters and aircraft have not
spotted any signs of large
numbers of Haitians taking to
sea, Warr said.

Prices

Riots sparked by high food
prices broke out in the in the
southern Haitian city of Les
Cayes on April 3. Before wan-
ing last week, the unrest
spread to the capital, Port-au-
Prince, and other areas, leav-
ing seven dead, including a
Nigerian officer serving in the
9,000-member United Nations
peacekeeping force that has
patrolled Haiti since 2004.

The protests in Haiti come
as prices for staples such as
rice and wheat have skyrock-
eted around the globe due to
several factors, including high
demand and record fuel
prices.

Economists have warned
the situation may get worse,
possibly sparking more unrest
and even violence if desper-
ate, hungry people take to the
streets.

U.N. Secretary-General
Ban Ki-moon warned Mon-
day that the global food crisis
has reached “emergency pro-
portions,” and called for the
global community to “take
urgent and concerted action
in order to avoid the larger
political and security implica-
tions of this growing crisis.”

Protests over high food
prices have also erupted

recently:in Mexico, Nicaragua -i

and the Dominican Republic..

Elderly man attacked
by robbers in home

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

AN ELDERLY man had to
be taken to hospital following

Carmichael Road.

Police reported two armed
robberies in the area — occur-
ring about half an hour apart —
and say they believe the
break-ins were committed by
the same assailants.

Assistant Superintendent

around 11.30pm last week
Thursday, two masked men —
one armed with a handgun —
kicked in the front door of an
elderly man’s home off
Carmichael Road.

The 74-year-old man was hit
to the face before the desper-

jars filled with coins, Mr Evans
said.

The victim was taken to
hospital where police report
that he is in serious but stable
condition.

Approximately thirty min-
utes later, just before mid-





a brutal attack by armed rob-
bers who invaded his home on

Y teens preparing for an exhibition of artwork

THE Bahamas Young Women’s Christian
Association has announced that it will be host-
ing an art exhibition and sale in June featuring
works created by H O Nash Junior High School
students.

‘ In a statement issued yesterday, the YWCA
said the event will take place on Saturday, June
28 at Spm at its headquarters on the corner of
John F Kennedy Drive and Dolphin Drive.

While conducting one of the association’s
“Y Teens” sessions in November 2007, Rosalie
Fawkes; general secretary of the YWCA of
Bahamas, discovered the art room of H O

Walter Evans said that fet

Nash Junior High School.

Amazed at the beautiful work displayed'c on
the walls of the classroom, Mrs Fawkes said she
immediately invited the art teacher, Willard
Capron, to exhibit the children’s work at the
YWCA’s cultural evening held on Sunday
March 9 of this year.

The cultural evening and the exhibition
proved to be a success with the artists attending
and receiving recognition for their work.

“The wonderful thing about the cultural

», evening was that it allowed the talent of the

children to be affirmed and recognised by the

a Tone fateh nents 5 nos

THIS MONTHS TOPIC:

Cae

“SPEAKER:

Julia Lee

Registered Dietitian

Nutrition

LECTURE DATE -
Thursday, April 17th, 2008 @ 6pm

Doctors Hospital Conference room

Please join us as our guest every third
Thursday of the month for this scintillating
series of the most relevant health issues

affecting society today.

L Healthy Seniors
Dr. Angela Kunz

2.7 litre VVTI engine
automatic transmission
mp3/cd player

ate robbers made off with two

night, police said three



wider community. Members of the audience
also expressed intérest in purchasing the art-
work,” Mrs Fawkes said.

The Y-Teens also painted a colourful mural
on the wall of the YWCA’s activity centre in
time forthe cultural evening.

Y-Teens is a leadership mentoring pro-
gramme that began in 2004 and includes girls
and boys.

Due to the success of the programme, organ-
isers say, the sessions are now held during
school hours at HO Nash Junior High School
to benefit a larger number of students.

masked men — one with a
handgun and one with a shot-
gun — knocked at the door of a
35-year-old male resident of
Carmichael Road.

Dressed in dark clothing,
the thieves robbed the 35-
year-old and his friend of cash
and personal items, police
said.

They escaped the scene
heading in an unknown direc-
tion.

Police say their investiga-
tions continue.

@ DRUGS DISCOVERY

Earlier the same day,
Andros police officers discov-
ered 1,700 pounds of suspect-
ed marijuana on the island.

The officers; who were later
joined by Drug Enforcement
Unit (DEU) officers from
New Providence, were direct-
ed to the huge drug find ona
tip from the public, Assistant
Superintendent Walter Evans
said.

At around 6pm on Thurs-
day, the officers travelled to
an area in Grassy Creek,

‘South Andros where they

found a number of taped
packages containing marijua-
na, Mr Evans said.

The police say the drugs
have an estimated local street
value of over $170,000, he
said.

Information from members
of the public is reportedly aid-
ing this ongoing investigation.

The Coaching Corner
Testing, Tutoring, -
Counselling.
Behaviour and Learning
Challenges. Children,

Adolescents.
433-3954
Valerie Knowles
Licensed Child Psychologist
Appointments Only



HILUX DOUBLE CAB FEATURES:

security system Sas oS Coley

air conditioning

_ DrilsaGrant Taylor

EXECUTIVE
MOTORS LTD

~DOCTORS HOSPITAL

Healeh For Life

AUTHORISED TOYOTA DEALER

vs bres

eon Lee IE LLC Mole
e anti-lock brakes
alloy wheels

Auto Mall, Shirley Street (opp. St Matthew’s Church)
Open Mon‘to Fri 8am - 5: 30pm %
Sat 8am - I12noon

Tel: 397-1700
E-mail: execmotor@batelnet.bs
Parts and service guaranteed



Avaliabie in Grand Bahama at Quality Auto Sales (Freeport) * Queans Hwy, 352-6122 ¢ Abaco Motor Mali, Don MacKay Blvd, 367-2316





PAGE 8, TUESDAY, APRIL 15, 2008



- <== — ~ i ro



Ne Uiomeclnes

Riclisha Kelson

KEMP'S FUNERAL HOME LIMITED

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

A Memorial Service

Mrs. Una
Shepard

of Nassau, The Bahamas
who died on 13th April,
— | 2008, will be held at

i Christ Church Cathedral
, George Street,, Nassau
a on Wednesday, 16th
~ April, 2008 at 4:00 p.m.















The Very Rev. Patrick L. Adderley, Dean of
Nassau, assisted by Fr. Michael Gittens, Priest
Vicar, will officiate and interment will be in The
Garden of Remembrance, Christ Church
Cathedral. -







Mrs. Shepard is survived by her husband, Arnold
Shepard, sons, Chad and Owen; father and
stepmother, Kenneth and Sybil Treco; brother,
Tony Treco; sisters, Maria Smith, Yvonne
Cartwright, and Cheryle Themens; daughters-
in-law, Crystal and Natalie Shepard; aunt,
Elizabeth (Betty) Cole; brothers-in-law, David
Smith and Gerald Themens; sister-in-law,
Stephanie Treco; nieces, Marlene Key, Athena
Smith, Shelly Smith, Tanya Bennett and Chantel
Themens; nephews, Cliff and Brian Cartwright,
Kien Smith and Alain Themens and many other
dear relatives and friends too numerous to
mention.














In lieu of flowers, donations may be made to
Christ Church Cathedral Endowment Fund,
P.O.Box N.653, Nassau in memory of Mrs. Una
Shepard.





Arrangements by Kemp's Funeral Home Limited,
22 Palmdale Avenue, Nassau, The Bahamas.

Sn

CEVA FOX

Life is but a stopping place,
A pause in what's to be,
A resting place along the road,
to sweet eternity.
We all have different journeys,
Different paths along the way,
We all were meant to learn some things,
never meant to stay...



For some the journey’s quicker,
For some the journey’s slow.
And when the journey finally ends,
We’ll claim a great reward,
and find an everlasting peace,
Together with the lord.





C | GIBSON SR

Jana Joseph

I: 1978, under the presi-
dency of Mellany Zoni-
cle, an idea conceived by Thel-
ma McMillan, Honours Day,
was held at the Government
High School.

Three females participated,
representing schools through-
out New Providence. They
vied for the Alpha Kappa
Alpha Award and wrote an
essay to determine who the
recipient would be.

In 2008, the year of the cen-
tennial anniversary of the
Alpha Kappa Alpha Sorority
Inc and the 45th anniversary
of the local sponsoring chap-
ter, Eta Psi Omega, under the
theme, “Celebrating 30 years
of An Exemplary Scholastic
Programme,” will host the
30th annual Honours Day
Programme at the British




Colonial Hilton Hotel with 20
young women representing |

high schools in both New

Providence and the Family ©

Islands.

Each participant is a leader
in her own right as she has
been identified as the top
graduating female student at
her school.

Founder Mrs Thelma
McMillan saw the need to
recognise high school girls for
their high academic achieve-
ments, thus the birth of the
Honours Programme.

Since its inception, the pro-
gramme has grown with the
introduction of the Linda Hig-
gs-Swann Valedictorian Schol-
arship, tenable at The College
of The Bahamas, and a cash
award for the best essay.

Additionally, honorees are
now hosted to a full weekend
of fellowship, mentorship and

_ healthy competition.

This weekend, under the
leadership of first vice-presi-
dent Mrs Joyanne Archer, and
co-chairs Wendyi Poitier-
Albury and Tiffany Bain-
Saunders, the girls and their
families will be fully engaged
with activities beginning on
Friday, April 11 with a tour
of The College of The
Bahamas and a courtesy call
on the college president, Mrs
Janyne Hodder, and ending

VW CURR AL
be forgotten.

KNB eee ou It ONY
your daughter, Ethel Fox; —
grandchildren,

Desree Fox, Alexandra, Sebastian
and Nicola Lewis; and
great-grandchildren, Christyan
and Desinique Lewis.



30th ANNUAL HONOURS DAY PROGRAMME






ST ANNE’S HIGH

Kelly Johnson

on Sunday, April 13 with hon- -

orees and chapter members
attending Christ Church
Cathedral immediately fol-
lowed by the Honours Day
awards and reception. It is
during this time that recipi-
ents of the Linda Higgs-
Swann Valedictorian Scholar-
ship award and essay award
will be announced.

Over the year, participants
have had many dynamic
speakers address them and
this year honorees will receive
a message from the 16th pres-
ident of The Bahamas Union
of Teachers, Mrs Ida Poitier-
Turnquest.

Other activities of the week-
end include involvement in a
seminar by the Ministry of
Health, “Passport to Healthy
Living” and a seminar on eti-
quette on Friday afternoon.

On Friday evening, all par-

ticipants and their families will
- be hosted to a welcome recep-

tion.

THE TRIBUNE







S C BOOTLE SR QUEEN’S COLLEGE ©

On Saturday, honorees will
take the general knowledge
test and write an essay, the
results of which will determine
who is awarded the Linda
Higgs-Swann Valedictorian
Scholarship award and cash
prize respectively.

To date, through the Hon-

ours Day programme, the Eta
Psi Omega Chapter of the
Alpha Kappa Alpha Sorority
Inc has awarded over $80,000
in scholarships and prizes to
deserving young women from
both New Providence and the
Family Islands.
' In keeping with the sorori-
ty’s motto, “Service to all
Mankind,” and its mandate to
recognise and facilitate edu-
cational advancement in
Bahamian communities, the
local chapter will continue to
do its part to encourage, hon-
our and reward future leaders
for exemplary and scholastic
achievements.



AQUINAS COLLEGE



Elviann Patience

C=") [ie
Improving On Excellence!

= 1800 c0

| ¢ Automatic Transmi:
- @ ABS Brakes —

°Dual Airbags

Alloy Wheels

e Keyless Entry

¢CD Player

¢ Air Conditioning

CHM av RSA aS ae RUOn Ree Coneen Tecra
that’s fun to drive, loaded with advanced safety
eeu Casmacc lo Nese ue PALA TOC eee

SUZUKI

sexccensoancesef ey

ON-THE-SPOT FINANCING

Price includes rustproofing, licensing and inspection to birthday, full tank of fuel,
24,000 miles/24 months warranty and emergency roadside assistance.

QUALIT

auto z=
sales (2

LIMITED

#1 AUTO DEALER IN THE BAHAMAS
EAST SHIRLEY STREET * 322-3775 * 325-3079

Visit our showroom at Quality Auto Sales (Freeport) Ltd for similar deals, Queens Hwy, 352-6122
or Abaco Motor Mall, Don MacKay Blvd, 367-2916





THE TRIBUNE

TUESDAY, APRIL 15, 2008, PAGE 9



Comparing major changes
in Bahamas and Zimbabwe



m@ By LARRY SMITH

S A teenager back in

1965 I recall a
solemn school assembly at
which one of our teachers
(who was from Rhodesia) tried
to explain that African colony's
unilateral declaration of inde-
pendence from Britain.

Rhodesia was a prosperous
colony run by a stubborn white
settler named Jan Smith, who
died last November.

The country is now called
Zimbabwe, and is run by the
octogenarian Robert Mugabe,
who was Smith’s nemesis dur-
ing the war against white rule
in the 1970s.

In those days it was still big
news for a colony to actually
break from the British Empire
unilaterally - the American
War of Independence notwith-
standing.

That's one of the reasons we
were sitting in the sunshine lis-
tening to Mr Dock on that cool
November day 43 years ago.

Of course, the other big rea-
son was race, which defined
the context of the time.

This was only two years
before the Progressive Liberal
-Party's historic election victory,
which: overturned white
minority rule in the Bahamas.
In fact, integration of the stu-
dent body at my high school,
Queen's College, had only
recently begun.

Nineteen-sixty-five also
marked the height of the US
civil rights movement,-when
Martin Luther King's non-vio-
lent campaign began to be
superseded by black power
radicals like Malcolm X and
Stokeley Carmichael. After
King's assassination in 1968,

the struggle became much.

more violent.

Meanwhile, in southern
Africa, Ian Smith led a whites-
only political party called the
Rhodesian Front, which resist-
ed all efforts to extend voting
rights to the black majority. As
he once famously declared: "I

. don't believe in black majority
rule ever, not in a thousand
years."

White rule in Rhodesia was
based on property and educa-
tion qualifications for voting
that were in place when the
British introduced self-gov-
ernment in 1923.

Whites had 95 per cent of

the votes in national elections
although they were never more






than five or six per cent of the



“That the transition
(to majority rule in
the Bahamas) was a
quiet revolution was
owing to political
moderation on
both sides, with
the economically
aggressive Bay Street
oligarchy resolutely
retaining democratic
principles, and their
black opponents...
equally firmly
refraining from
violence or even
retribution."



Historians
Gail Saunders and
Michael Craton

population.

This closely resembled the
situation in the Bahamas,
where the 15 per cent white
minority occupied most of the
positions of power. The secret
ballot was not introduced here
until 1949 and plural voting
with property qualifications,
together with the disenfran-
chisement of women, contin-
ued until 1962. The effect of
these measures was to diminish
the electoral power of the
majority.

_In response, black power
movements influenced by the
highly-publicised American
civil rights struggle emerged in
both the Bahamas and Rhode-
sia, where Robert Mugabe's

Zimbabwe African National .

Union became the dominant
nationalist force.

Although most British
colonies achieved indepen-
dence in a relatively orderly
fashion during this period,
Rhodesia's defiance of the
international community and
denial of civil rights to most of
its citizens led to UN sanctions
and a bloody seven-year guer-
rilla war waged by Mugabe and
others.

Eventually, the British and
Americans were able to nego-
tiate an end to UDI in 1979,
and the following year Mugabe
became prime minister of an
independent Zimbabwe.

Smith and his party contin-
ued to contest the 20 reserved
white seats until 1987, when
they were abol-

ished. The

ZIMBABWE'S President Robert Mugabe meets with head of the African Union Observer Mission members at

Zimbabwe House in Harare, Thursday, April, 3, 2008

0.

US Sie aro poster

former white ruling party was
finally subsumed into a broad,
non-ethnic opposition, the
Movement for Democratic

Change, which came close to —

winning the 2000 elections, pre-
vented Mugabe from changing
the constitution in his favour,
and by most accounts has won
the March 29 presidential and
parliamentary elections.

n the Bahamas things

went rather differently.
The black-led PLP came to
office in January, 1967, by the
slimmest of margins, but was
re-elected in a landslide the
following year. It has often
been acknowledged that much
of the PLP's inspiration came
from the black power move-
ment in the US and the victo-
ries achieved by black majori-
ties in British colonies in the
Caribbean and Africa.

But the white regime in the
Bahamas had the common-
sense to.do the right thing and
avoid a racial war. According
to historians.Gail Saunders and
Michael Craton: "That the
transition (to majority rule)
was a quiet revolution was
owing to political moderation
on both sides, with the eco-
nomically aggressive Bay
Street oligarchy resolutely
retaining democratic principles,
and their black
opponents...equally firmly
refraining from violence or
even retribution."

The former white ruling .

group - the United Bahamian
Party - was dissolved by Geof-
frey Johnstone in 1970 and
some of its members became
part of the new Free National

°
=
°
=
7 OU
ou
<=

Movement along with a break-
away group of senior members
of the PLP.

Pindling and the PLP led the
country to independence three
years later and remained in
power for a stultifying quarter
century, finally succumbing to
the FNM in 1992.

Both parties have exchanged
places twice in the ensuing 16
years.

Similarly, Mugabe is the
hero of Zimbabwe's indepen-
dence movement and the fight
against white rule.

But at 84 he refuses to coun-
tenance any challenge to his
autocratic rule. His chief oppo-
nent is Morgan Tsvangirai, a
trade.unionist and human
tights activist who has been



Mice ccna

Pensenaa

it



arrested several times by the
regime.

It. is widely accepted that
Mugabe and his cronies are
chiefly responsible for an eco-
nomic meltdown that has
turned one of Africa's most
prosperous countries into a
country with one of the low-
est life expectancies in the
world. There is no freedom of
speech or assembly in Zim-
babwe, and the state has used
violence to intimidate and mur-
der its opponents.

According to David Coltart, ”

MDC senator and human
rights lawyer: "At the root of
Zimbabwe's problems is a cor-
rupt political elite that has, with
considerable international sup-
port, behaved with utter

* During the Ford Model Year Clearance you can experience tne best
deals of the year. Don’t miss the truly amazing opportunity to get
behind the wheel of the most stylish vehicles on the road.

Available at |

«zz» FRIENDLY MOTORS C0, LTD

THOMPSON BOULEVARD ¢ TEL.: 356-7100 * FAX: 328-6094 = smartchoice
EMAIL: friendlymotors@hotmail.com ¢ WEBSITE: friendlymotorsbahamas.com

2008 FORD EDGE

ORD TAURUS

2008 F
“ §37,300°

Mujahid Safodien-STAR/AP

impunity for some two
decades. This elite is deter-
mined to hang on to power no
matter what the conse-
quences."

White rule is no longer an
issue. But - like Pindling's PLP
- the Mugabe government
clings tightly to the rhetoric of
the past. Zimbabwe's gross
domestic product fell by &4bout
43 per cent between 2000 and
2007, and millions of its citi-
zens have fled the country in
recent years. ;

Meanwhile, Mugabe contin-
ues to wield the same authori-
tarian powers once exercised
by the white Rhodesian Front
as the country descended into
chaos under UDI. Ian Smith
must be laughing in his grave.




$37,800





3.5L V6
Automatic,
fully
ded,
with
~ leather
~ interior
























PAGE 10, TUESDAY, APRIL 15, 2008 ; THE TRIBUNE



| TUESDAY EVENING APRIL 15, 2008
| 7:30 | 8:00 | 8:30 | 9:00 | 9:30 | 10:00 | 10:30
NETWORK CHANNELS



Great Romances|Nova “Marathon Challenge” People {Once There Was a Country: Re- /Frontline “Sick Around the World”
WPBT of the 20th Cen- |from diverse backgrounds train for visiting Haiti Haiti's failing infra- |The healthcare systems of other ad-
| tury the Boston marathon. 1 structure. vanced democracies.

The Insider (N) |NCIS ‘Dog Tags” Abby risks her ca- |Big Brother 9 The veto meeting |48 Hours Mystery 1 (CC)
(@ WFOR!n cc) ie defense of a dog. (N) ( — jand competition. (N) (CC)
|

Access Holly- |The Biggest Loser (Season Finale) One contestant is declared the Law & Order: Special Victims Unit

GB WVU |wood Jessica [biggest loser. (Live) A (CC) “Undercover’ A girl is found raped
| Alba's cause. and beaten. (N) © (CC)

| Deco Drive American Idol Seven finalists com- |(:02) Hell's Kitchen A race to cook jNews (N) (CC)

WSVN pete. (Live) (CC) pete lice chickens. (N) 0

~ » | Jeopardy! (N) Accordingto [According to Dancing With the Stars One is —_|(:02) Boston Legal “The Mighty
WPLG icc} ? Jim ‘The Gitt Jim ‘The Hot eliminated. (Live) © (CC) See Shirley wants to end her
Certificate” (N) |Wife” 0 (CC) sick father's suffering. (N) 0
eho CABLE CHANNELS

| oy CSI: Miami |The First 48 “Deadly Attraction”A |Gene Simmons |Gene Simmons |Gene Simmons |Gene Simmons
A&E hree-Way’ © |man is found murdered in his bed. |Family Jewels |Family Jewels |Family Jewels |Family Jewels
(CC) (CC) (CC) ‘— |Hospitalization. |(CC) “Nail Me” (N)
Say BBC World |BBC News World Business |BBC News Earth Report /News
' BBCI ews America |(Latenight). |Report (Latenight). The bee popula-
| 5 ion.
| College Hill: At- | * THE WASH (2001, Comedy) Dr. Dre, Snoop “Doggy” Dogg. The assis-|College Hill: At- jlron Ring (N)
BET lanta Tec) tant manager at a car wash arelos his lazy pals. (cg lanta hy (CC): |(CC)
| CBC Sa NHL Hockey Eastern Conference Quarterfinal Game 4 -- Montreal |CBC News: The |NHL Hockey: West Quarterfinal - ee :
anadiens at Boston Bruins. (Live) (CC) National (CC) {Sharks at Flames S a
:00) Kudiow & |Fast Money Deal or No Deal Contestants get a |The Big Idea With Donny Deutsch ce let Cha r| ie the
CNBC ompany (CC) chance to win money. (cc} oe 3 :. Pp A
:00) Lou Dobbs |CNN Election Center Larry King Live (CC) Anderson Cooper 360 (CC) mian uU et an
CNN _foneiticd ae Ee

Scrubs Doctors |The Daily Show |The Colbert Re- Futurama Ro- /South Park The |Demetri Martin The comic per- . 7 hi Ss Ss] d elki ck De rel Pp ut
/' COM become patients. With Jon Stew- |port (CC) bots in love. 1 {boys rescue help-lforms. (CC)
A (CC) art (CC) __ (CC) less calves, | some smiles on your
DISN Ee of Peers oe Comedy) een Meare (i Tats bi ie) Mat a ti mM a 8 F
ac y Ad-| Amanda Michalka. Two teenagers try to save their fa- |Raven “Roya aven “The Par- "Not So Swee oe } f
| vice column. ther’s business. ( ‘NR’ (CC) Treatment” (CC) |ties” 16° : ki ds S ces ;
DIY This Old House |This Old House |Sweat Equity At-|Desperate Land-/Rock Solid (N) Kitchen Renova-/Kitchen Renova- ,
0 (CC) 1 (CC) tic bedroom. scapes (N) tions tions
DW Beckmann ML Mona Lisa Journal: Tages- |Politik direkt — [Journal: In Euromaxx
thema Depth
Keeping Up-Kar-

e| : ’ f)
The Daily 10 (N) [Hugh Hefner: Girlfriends, Wives and Centerfolds: The E! True Holly- |Keeping Up-Kar Keeping Up-Kar-| | | 5 YI NG yo Ur. chi Id ren to the
wood Story Playboy. © (CC) dashians dashians :

E!

ESPN |COvES0 I Reale Live (Liv) ean ele] | m Tonight (Live) (CO) McHappy Hour at McDonald's in
te a | Malborough Street every Thursday
Daily Mass: Our |Pope Benedict XVI's Apostolic Visit to the U.S. |The Holy Rosary/Threshold of Hope \

EWTN from 3:30pm to 4:30pm during the

00) Cardi Shimmy (CC) {Shi CC) [Namaste Y Namaste Y National Body Challenge Competi-
FIT TV Cae eS) penny ee) nee pr (ce) cc) aa Kev ath oas 0 oy month of A\p vil 9008.
FOX-NC Fox Report- |The O'Reilly Factor (CC) Hannity & Colmes (CC} On the Record With Greta Van
Shepard Smith Susteren (CC)

FSNFL :00) MLB Baseball Atlanta Braves at Florida Marlins. From Dolphin Stadium in Miami. Inside the Mar- |The FSN Final
Subject to Blackout) (Live) lins (N) Score (Live)

; GOLF Golf Channel |The Approach |GolfCentral — /Big Break Big Break: Ka’anapali (Season .
Academy (Live) ' Premiere) (N) E ‘i E a E
GSN Lingo (CC) Who Wants to Be a Millionaire © |Family Feud |Family Feud {Russian Whammy (CC) : Enjoy Great ood, Prizes and Lots of UN.
(CC) (CC) (CC) Roulette (CC) :
(:00) Attack of [X-Play (N) Ninja Warrior |Ninja Warrior Unbeatable ‘| Attack of the Show!
G4Tech the Show! (N) Banzuke
at) Walker, — |Walker, Texas Ranger Alex and |THE LONG SHOT (2004, Drama) Julie Benz, Marsha Mason, Paul Le ~
HALL exas Ranger _|Walker struggle to get to the court- Mat. An accident blinds an equestrian’s horse. (CC) . aL
(CC) room with the evidence. ; , ?m lovin’ if
Buy Me “Greg & |Dasigner Guys [Design Inc. An |Colin & Justin’s Home Heist “Tar- |Green Force ( |Take It Outside
HGTV __[Linda’.n (CC) |Narrow main intrusive fire- tan Terror’ George and Margaret's |(CC) 1 (CC)
floor. (CC) —|place. O (CC) |home is touristy. M (CC)
Victory Joyce Meyer: {Christ in “|Inspiration To- {Life Today With |This Is Your Day/The Gospel
INSP Everyday Life. {Prophecy day James Robison |(CC) Truth (ce)
Reba ‘Issues’ (\)NBA Basketball: Los Angeles ee at New Orleans Hornets. From the New Orleans Are- | Two and a Half
KTLA {icc rch Men 7 (C)
: Still Standing |Reba “Hello, My |Reba Reba’s pa x REDEMPTION (2004, Biography) Jamie Foxx, Lynn Whitfield,
LIF E Bill befriends Lin- Name |s ty for her clients. |CCH Pounder. Premiere. Convict Stan “Tookie” Williams becomes a No-
_ _ |da’sex.(CC) — |Cheyenne” (CC) | (CC) bel Prize nominee. (CC)
:00) Hardball + {Countdown With Keith Olber- | Verdict With Dan Abrams Countdown With Keith Olber-
MSNBC |" mone tener [eee ham
Zoey 101 |SpongeBob {Drake & Josh |Home lmprove- |Home Improve- |George Lopez {George Lopez
NICK icc} SquarePants 1 |“Sheep Thrills” |ment © (CC) |ment M (CC) {"Split eel a (cc) -~ Ne
NTV tia} House 1 |NCIS Oy Tags” Abby risks her ca- |Big Brother 9 The veto meeting |News (N) M — |News a : =
PA) (CC) reer in defense of a dog. (N) and competition. (N) © (CC) (CC) a :
Pass Time Mercedes Test Drive (N Street Tuner —_|Livin'the Low |Super Bikes! (N)/Super Bikes! |, | [iin Rei : imr > Best”
[SPEED /*â„¢ Year | ~~ ae os
fe Extraordinary /Behind the Joyce Meet John Hagee To- |Bill Gaither (CC) |Praise the Lord (CC) H Ss SF ~~
TBN Health With Jor-|Scenes (CC) {Enjoying Every- |day (CC) -
: dan Rubin day Life (CC)
Everybody Family Guy Bri- |Family Guy Pe- |Family Guy |Family Guy |The Office “Fire” |The Office
TBS Loves Raymond an fights for his ter’s dad's reli- |(CC) “Emission Impos- |Parking-lot evac- |Michael must fire
“Golf for It’ © |rights. (CC) gious beliefs. sible” (CC) uation. someone. (CC)
Greenovate |Dateline: Real Life Mysteries A |Dateline: Real Life Mysteries “Kill |Dateline: Real Life Mysteries “The
TLC “Margaret R.” (N) |man pushes a woman to her death }& Kill Again: Spokane Serial Killer’ Fans A ueiNe vanishes with
in a subway. (N) Serial killer. (N) (CC) millions of dollars.
: (:00) Law & Or- |Law & Order “Fame” Tabloid pho- |Law & Order ‘The Family Hour’A |Bones A filmmakers remains are
TNT der eet poet might have played a role in|former senator is a suspect in his found in an underground tunnel's
1 (CC) (DVS) a fatality. A (CC) (D | ex-wife's death. (CC) (DVS) ventilation shaft. © (CC)
CampLazlo —|Ben 10 Home for Imagi- |Johnny Test © |Johnny Test 1 |Courage the — /Grim Adven-
TOON [arise fet fraps (GQ) (G0) (ovat Oog_ lie
TRU Cops Son dam- |Cops Attempted |Cops “Coast to |World’s Wildest Most Shocking “Under the Influ-
ages her home. |bicycle theft. |Coast’ 1 (CC) ence 2”
:00) Toute une |Pékin express “Le Grand départ” Un homme a l'ile de Sark
TV5
:00) Abrams & |Epic Conditions |Weather Ven- | Weather: Evening Edition (CC)
Twe ;












na in New Otlearis: (Live
PDA EE bp










\









(:00) YoAmoa_ Al Diablo con Los Guapos Pasion Una historia que toma lugar |Aqui y Ahora
UNIV Juan Querendon entre piratas y ann
Law & Order: Special Victims Unit|Law & Order: Special Victims Unit/NCIS ‘The Bone Yard” Gibbs’ part- ~ + oe oe
US A - ee ete pate what looks “Obscene” 1 (CC) aA sot ee Qn of 5 : : .
ike a human sacrifice. aiding the Mafia, e 5
VH1 ed Miss Rap |The Flavor of Love 1 Rock of Love With Bret Michaels |Rock of Love With Bret Michaels els bt Sched ul Cr log ed a to
upreme (CC) Bret meets the parents. 1 Bret makes his final decision. 1

VS (:00) NHL Hockey Eastern Conference Quarterfinal Game 3 -- Washing- |Hockey Central |NHL Hockey: West Quarterfinal -
" ton Capitals at Philadelphia Flyers. (Live) (Live) Wild at Avalanche

‘ en America’s |Funniest Pets & /Funniest Pets & |Funniest Pets & |Funniest Pets & |WGN News at Nine (N) © (CC)
WGN unniest Home |People Funny [People Funny People Funny | People Funny
Videos (CC) |blooper videos. |blooper videos. {blooper videos.’ {blooper videos.

Family Guy Pe- Beuy and the Geek “Flame. Reaper “Acid Queen” Sam finds out |CW11 News at Ten With Kaity
WPIX {er ig ts city hall. Broiled Geeks” A geek loses his _|that an escaped soul plans to kill Tong, Jim Watkins (N) (CC)
A (CC) cool with one of the beauties. (N) |Andi. 1 (CC)

Jeopardy! (N) |Dr. Phil 7 (CC) News (N) Jeopardy! (CC) |Frasier Daphne |Frasier Frasier
WSBK icc} : thinks Fraser de-|wants a quiet
; sires her. —— |place to read.

PREMIUM CHANNELS

6:30) * THE — | & & FRACTURE (2007, Suspense) Anthony Hopkins, Ryan Gosling,
HBO-E _ [RETURN reg David Strathaim. A prosecutor plays a cat-and-mouse game with a dan-
1 'PG-13' (CC) |gerous suspect. 1 'R’ (

CC)
et * 4 THE] & & &% THREE KINGS (1999, War) George Clooney, Mark trad * %% CRUEL INTENTIONS (1999,
HBO-P |GOODSHEP- [ice Cube. Four American soldiers go off in search of Gulf War gold. Drama Sarah Michelle Gellar. 0
HERD 'R’ 'R’ (CC) ‘R’ (CC)
: 5) & x MESSAGE IN A BOTTLE (1999, Romance) Kevin Costner, | * THE RETURN (2006, Suspense) Sarah Michelle
HBO-W [Robin Wright Penn, Paul Newman. A woman seeks the author of a letter |Gellar. A joung woman has visions of the murder of a
that washed ashore. 1 ‘PG-13' (CC) woman she has never met. 1 ‘PG-13' (CC)

:15) & & & 16 BLOCKS (2006, Action) Bruce Wills, | % THERE'S SOMETHING ABOUT MARY (1998, Romance-Comedy)
HBO-S los Def, David Morse. A world-weary cop protects a |Cameron Diaz, Matt Dillon, Ben Stiller. A man hires a sleazy private eye
witness from assassins. 1 6-13 (CC) to find a former classmate. 1 ‘R’ (CC)

Cat * x |» READY TO RUMBLE (2000, Comedy) David Ar- |(:45) The Sec- | x * x V FOR VENDETTA (2006) 6 ~
MAX-E __|THENEGOTIA- |quette. Wrestling fans help their washed-up hero make ond Coming —_Natalie Portman. A vigilante fights a :

TOR (1998) ‘R’ ja comeback. 1 ‘PG-13' (CC) (CC) fascist government. ( 'R’ co Nac A —

M OMAX i Be ST Ek (2006, Rana corey is ers UE Drama) he oe Lindsay ee Felicity : i M ow! G ift C s fi ‘mn
indsay Lohan. A charmed woman suffers a reversal of|Huffman. An incorrigible teen goes to live with her stern grandma. 1 ‘R’ ; ‘ rt t 4
fortune. O ‘PG-13' (CC) (CC) : : 4 : : OVI Cc f e i bf Ca es
% * &, BABEL (2006, Drama) Brad Pitt, Cate Blanchett, Gael Garcia Bernal. iTV. The Tudors (iTV) Henry marries PNK Ee : =

SHOW __ [Strangers’ lives collide on three different continents. ‘R’ Anne. 1 (CC) oo es : make great gi | “
5:45) x ee | & FROM DUSK TILL DAWN (1996, Action) Harvey Keitel, George | x x DEAD BIRDS (2004, Horror) ss ; sl

TMC ISSION: IM- |Clooney, Quentin Tarantino. Fugitive brothers encounter vampires south |Henry Thomas, Patrick Fucit,
POSSIBLE Ill of the border. 0 ‘R’ (CC) Michael Shannon. 1 ‘R’ (CC)












REAL Sports With Bryant Gumbel
(NO

















THE TRIBUNE





‘

@ By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

fter falling just
short in both
the GSSSA
volleyball and
basketball sea-
sons, the Doris Johnson Mystic
Marlins senior boys appear
well on their way to ending the
year with a successful run at a
championship title.

The Mystic Marlins cruised
to another win yesterday when
they decimated the C C Sweet-
ing Cobras, 13-1, yesterday at
the Blue Hills Sporting Com-
plex.

With a 12 run lead after four
innings, the Mystic Marlins
were credited with the win due
to the mercy rule.

Making a statement as one
of the league's most formida-
ble teams, Doris Johnson was
in complete command from
the game's outset in the top
half of the first inning.

Chauncey Cooper, pitching
a modified style, relied on
adept ball placement to neu-
tralise the Cobras' lineup, who
managed just one base runner
in the first.

In contrast, the Marlins teed
off on the Cobras pitching with
eight runs to take a command-
ing lead in the bottom half of
the inning.

The second inning produced

much of the same for the
Cobras, with the three up and
three down as frustration con-
tinued to mount against the
stifling Marlins’ infield
defence.
. The.Mystic Marlins-went
through their complete lineup
in the second inning beginning
and ending with lead off hit-
ter Dakyle Rolle.

Rolle finished 2-3 with two
RBI and made several key
plays at third base to halt to
limit the Cobras to few
baserunning opportunities.

With a pitching change mak-

TUESDAY, APRIL 15,

1 1







2008

ing little difference the Mar-
lins piled on additional runs
and held an 11-0 lead headed
into the third inning.

The Cobras finally reached
the scoreboard in the bottom
of the third inning on a rare
fielding error by the Mystic
Marlins.

The final inning included a
strikeout by Cooper followed
by a pair of routine ground-
balls.

The Marlins potent lineup
at the plate was led by short-
stop Ashton Anderson.

Anderson who finished 3-3
with two RBI said the team
was functioning on all cylin-
ders both in the field defen-
sively and at the plate.

"We played our game right
the way we wanted to, we just
wanted to come out and dom-
inate the infield,” he said, "We
made sure everyone commu-
nicated, especially with our
pitcher and we just kept it
steady and kept it flowing.
They thought they could out-
smart us at the plate by sitting
low to the ground and making
our pitcher throw balls but we
knew eventually once we kept
pitching inside we would win
because most of them can not
hit inside balls."

Anderson said the team has
shown tremendous improve-
ment over the course of the
year and the constant work
should result in the league's
ultimate prize.

"We have improved a lot
since we started, the outfield is
getting better every game and
the infield is looking stronger
than ever," he said, "Our
expectation is to keep playing
like this and we should get to
where we want to be in the
championship." .

Other Mystic Marlins offen-
sive leaders included Lamont .
Bullard who went 2-3, includ-
ing a triple, Tyrone Miller who
went 2-3 with three RBI and
designated hitter Walter Dean
who went 2-2.



IDE © International sports news





Pr

= Ps

Marlins defeat Cobras

Tim Clarke/Tribune staff

A successful trip to NCAA Women’s Final Four

@ By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

PATRICIA “Patti” Johnson and



EE

six players from her famed H O Nash
Lions’ junior girls basketball team
have returned from a successful trip
to the NCAA Women’s Final Four
and Coaches Conference.

And Johnson, commonly referred
to as the “Pat Summitt” of women’s
basketball in the country, said the
eight days they spent in Tampa and
Fort Lauderdale, Florida, last week
was quite rewarding for her and the
Lions.

“Thank God we came back in one
piece,” said Johnson, who showed
up at The Tribune with her squad to
showcase plaques they received.

“When we got there, the players
were allowed to get into the confer-
ence free. That was the first time that
I saw that and they went and com-
peted in the Hoop City for three
days, winning various prizes and fin-
ishing second in the three-on-three
tournament,”

On their way back home, Johnson *

said they stopped in Fort Lauderdale
where they hooked up with Bahami-
an coach Staretta Ferguson, who
allowed them to play a couple games
against the middle school in the area.

“What really happened was that
the kids got a first hand experience of
what it is to be in a number one col-
lege and what it takes to get there,”
Johnson said.

“They got a chance to speak to
various coaches, one of whom
reminded them that they have to
have their books, their Bible and
their basketball. So it was very infor-
mative. So I hope what they learn
will sink in.”

Johnson said the trip was an expen-
sive venture, but she publicly thanked
all of the sponsors who assisted her,
chaperone Torsheka Cox and coach
Sherwin Major, of Harbour Island,
who accompanied the team.

Here’s a personal assessment of
what each of the players experienced
for themselves:

e Sashana Smith, the six;foot team
captain and center, said it was great.

ee



COACH PATRICIA JOHNSON with players from her famed H O Nash Lions’ junior girls basketball team. Shown (I-r) are Sashana
Smith, Kadia Johnson, Burdecia Sands, Johnson, Khadjah Moncur, Lakishna Munroe and Randya Kemp.

“It was truly a great experience,”
said the 15-year-old ninth grader. “I
learned a lot of things and I hope
that one day I can go back and play
for the (Tennessee) Lady Vols.”

As for the Lions, Smith said they
played well and they tried to stay
focused. Her goal is that all of her
team-mates eventually make it in life.

Although she wants to play for the
Lady Vols, Smith said she was root-
ing for the Stanford Cardinals to win
the title. But she was disappointed
that “Candice Wiggins was to step
up for her team, but she didn’t.”

¢ Kadia Johnson, the 5-11 center,
said she also enjoyed herself.

“We did good. We tried our best
and it was good,” said the seventh
grader. “Most of us were focused and
some of us were not.”

Johnson said she knew that “Ten-
nessee was going to win because
that’s my favourite team.”

¢ Burdecia Sands, a 5-6 forward,
said the experience was great.

“They taught me how to play hard-

er, how to pass faster,” said the sev-
enth grader. “I hope that my team-
mates will work just as hard as I do
and we will make it to college.”

Sands also pulled for Tennessee
because “I knew they could win how
they were passing the ball and mak-
ing their shots.”

¢ Khadjah Moncur, a 5-4 point
guard, said it was a pretty good expe-
rience.

“T love how everything over there
was organized and how they worked
hard, practiced hard and how they
did so well in their school work,” said
the eighth grader. “They showed us
that it ain’t all about playing basket-
ball. As a team, I think they did great.
Some of us were focused and some
were not. But I think we did great.”

Moncur too was rooting for the
Lady Vols because “they were
focused and Candice Parker had a
back shoulder, but she stood up and
played with a lot of pride.”

' e Lakishna Munroe, a 5-9 forward,
was thrilled to be on the trip.

“T think we did well. We had a lot
of fun and they showed me a lot of
stuff,” said the eighth grader. “I hope
that I can get a scholarship, so I have
to do better in my school work.

“As for the team, I think we could
have done better. But we did okay.”

As expected, Munroe was a big
fan of Tennessee because “they just
had a good team and I liked how
they played.”

e Randya Kemp, a 5-5 point guard,
said the trip was one that she won’t
forget.

“We all got along very well and
they played together as a team,” indi-

cated the eighth grader. “I think that

really helped us out.”

Kemp, however, had her money
on the Cardinals and was disap-
pointed that they didn’t win because
she felt “Candice Wiggins was a great
player to watch.”

Now that they are back home,
Johnson said they are gearing up to

_Stage a clinic for the New Providence

Primary Schools.

‘Delegation
‘will be
present’

for BOA

— elections

process

@ By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

IT seems as if the Bahamas Olympic
Association’s elections process is not final-
ly over.

Or is it?

After attending a meeting in Beijing,
China last week, both immediate past pres-
ident Arlington Butler and current secre-
tary general Larry ‘Doc’ Davis agreed to
holding a process before an independent
body to properly ratify the newly elected
officers.

In a statement released by Butler yes-
terday, it was stated that after both men
met with Mario Vazquez Rana, president
of the Pan American Sports Association
(PASO) and president of the Association
of National Olympic Committees and
International Olympic Committee execu-
tive, and it was agreed that an assembly to
elect the new executives for the BOA will
be held on Thursday, May 8 at 6:30 p.m..

Butler further wrote that it was agreed
that at the meeting at the Nassau Yacht
Club that a delegation from the regional
PASO will be present.

The delegation, according to Butler, will
consist of Felipe Nunoz, secretary general
of PASO; Richard Peterkin, treasurer of
PASO; Lic Riardo Contreras Hernandez,
secretary general of the Mexican Olympic
Association and Dr. Julio E. Cassanello,
president of the Argentina Olympic Asso-
ciation.

“The delegation will be present for the
elections,” Butler wrote.

“This action is in compliance with the
request of the International Olympic Com-
mittee.

“The delegation of observers will make
certain that the Olympic Charter is
adhered to.”

While he agreed that a meeting took
place between himself, Butler and Rana,
Davis claimed the circumstances sur-
rounding the visit of the delegation is not
exactly as stated by Butler.

“The executives who were elected at
the last meeting are the legal executives of
the BOA and are recognised as such,”
Davis stated.

“However, in the interest of the athletes
and to avoid any international controver-
sies that might be going on, it has been
suggested that we do the elections in front
of international witnesses.”

Having being duly elected on March 6,
Davis said the executive board, now head-
ed by the Rev. Dr. Enoch Backford, will
have the option of going through the
process or not.

“We discussed a date, but it has to be
decided by the current executives and not
the past president,” Davis stated. “We see
what direction we will take, but it has to be
decided by the current executives.

“Whatever is done will be done in the
best interest of the athletes because we
really don’t want to distract them from
their preparation for the games.”

Davis said the IOC felt they acted in a
legal manner in holding the elections, but
they just want to ensure that all of the
associations and federations work togeth-
er to ensure that the process was done in
the proper manner.

“We just want a consensus for every-
body to come to a meeting and say that
they will work together for the betterment
of all of the athletes,” Davis disclosed.

While the elections are a priority, Davis
said the BOA is moving forward to make
sure that the Bahamas is well represented
at the Olympic Games in August in Bei-
jing.

As for the protests surrounding the trav-

_ eling of the torch around the world, Davis
said the IOC has assured them that all is
well and there isn’t any need for concern
among the athletes competing at the
games.

“The concerns that were voiced were
the fog and the medical commission has
announced that they have been monitoring
it and it has improved,” Davis revealed.
“So there’s no danger to the health of the
athletes.

“And with the high profile of the games,
a lot of people are trying to get their issue
in, but they are going to beef up the secu-
rity and are keeping an eye out for any of
the groups that have threatened to kid-
nap athletes and officials from the visit-
ing countries.”



PAGE 12, TUESDAY, APRIL 15, 2008

ME CC . Le

Wt
UTA



a

in two
flivisions

FIRST Baptist moved
one game closer to repeat-
ing as champions in both
the 15-and-under and 19-
and-under divisions in the
Baptist Sports Council’s
2008 Rev Dr William
Thompson Basketball Clas-
sic.

On Saturday at the Tom
“The Bird” Grant Sports
Complex, First Baptist
nipped Faith United 33-31
to snatch the 1-0 lead in the
15-and-under best-of-three
series that will continue on
Saturday.

Their 19-and-under team
followed suit by pounding
New Bethlehem 66-53 to go
up 1-0 in their best-of-three
series.

First Baptist also played
their third and final game
in their semifinal playoff
series by eliminating Gold-
en Gates in the 15-and-
under and Macedonia in
the 19-and-under to
advance to the respective
finals. —

Meanwhile, defending
champions St Paul’s and
runners-up Evangelistic
Center both moved into the
driver’s seat of the men’s -
semifinal as they look
ahead to a much anticipat-
ed rematch in the champi-
onship series.

St Paul’s turned the
tables on president divi-
sional pennant winning
Temple Fellowship 49-45
and vice president division- *

al pennant winners, Evan-
*pelistic Center clobbered
First Baptist 61-45 for their
-1-0 lead.
Game two in both of the
.men’s series will continue
on Tuesday night with St
Paul’s facing Temple Fel-
‘lowship at 7pm, followed
‘by Evangelistic Center vs
First Baptist at 8pm. If nec-
‘essary, the third and final
game will be played on
Thursday. If not, the best-
of-three final will get start-
‘ed.
_ Also on Saturday, Mace-
: donia held off St Paul’s 25-
: 22 to clinch a berth into the
‘ladies’ championship
- against the defending cham-
‘pions and pennant winning
Golden Gates. The series
‘will be played on Saturday.

First Baptist 33,
Faith United 31
: Basil Deveaux had 12
- and Rashad Knowles 11 as
First Baptist took the ini-
-tial lead in the 15-and-
: under championship. Avery
: Armbrister had a game
high 16 in the loss.

First Baptist 66,
New Bethlehem 53
Marcus Russell scored 16
‘and Delroy Rolle added 11
| in the win for First Baptist.
Tino Strachan had 16 and
Trijillo Darville 15 in the
loss for New Bethlehem.

Macedonia 25,
St Paul’s 22
Juliet Taylor and Thela
- Johnson both scored eight
and Anastacia Moultrie
added seven to lead Mace-
. donia. Latoya Rolle had a
‘ game high nine and Nikia
Dean added five in the loss.

St Paul’s 49, Temple

Fellowship 45

Harold Carter came up
with a game high 28 and
Trevor Brown added seven
to pace St Paul’s to their
opening victory.

lan Pinder scored 11 and
Edwin Burrows added 10
in a losing effort.

Evangelistic Center 61,

First Baptist 45

Marcel Mortimer came
up big with a game high 21
points and Leonardo Light-

‘bourne 14 as Evangelistic

Center took game one.

Cruz Simon had 19 and
Gamalian Rose added 11 in
the loss.







TRIBUNE SPORTS

To Knowles and Bhupathi ‘set their

rackets’ on international scene











WITH HIS DUTIES completed for the Bahamas’ Davis Cup team this year, Mark Knowles is now concentrating on his doubles combo with Indi-
an Mahesh Bhupathi (not shown) on the international scene.





Giants blow out Enforcers 84-59

COACH Perry Thompson said he was
quite thrilled by the performance of his
Commonwealth Bank Giants over the
weekend at the Pigeon Park basketball
court in Matthew Town, Inagua. :

The New Providence Basketball Asso-
ciation men’s champions added the
Bahamas Basketball Federation’s Ist
Daniel Simmons National Basketball Invi-
tational title to their collection with a 84-
59 rout over Eleuthera’s Royal Bahamas

_ Police Force Enforcers.

Michael Bain, coming off a great series
in the NPBA title run over the Electro
Telecom Cybots last month, scored 18

points and was named the most valuable
player for the championship game.

“We were excited to represent New
Providence as the champions,” Thomp-
son said. “The game was an exciting one.
They had a bigger front court than us, so
we had to apply a lot of pressure on their
guards. The whole concept was to try and
wear them down and take control in the
latter part of the game. That was basical-
ly what happened.”

The Giants, who went through the tour-
nament undefeated, also got 15 from Adri-
an Miller and 10 from John Rolle.

For the Enforcers; Michael “Banana”

Johnson lit up the nets for a game high 23
points, while University of Pittsburgh grad-
uate Doyle Hudson and Jamaal Henfield
both had 11.

In getting to the final, the Giants defeat-
ed Inagua, Cat Island and Abaco.

“The competition was good. It was far
better than in years gone by,” Thompson
said. “The out islands have really stepped
up with their level of play. It’s just a mat-
ter of experience, although we were
younger than those teams, which were
much bigger and more physical than we
were. Our experience and our quickness
pulled us through.”



m@ By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

WITH his duties completed
for the Bahamas’ Davis Cup
team this year, Mark Knowles
is now concentrating on his
doubles combo with Indian
Mahesh Bhupathi on the inter-
national scene.

Knowles left town on Sun-
day, having teamed up with
Marvin Rolle to win the dou-
bles on Saturday for the
Bahamas’ only victory in the
second round of the American
Zone II Davis Cup tie.

The Bahamas didn’t win any
of the single matches played
by Devin Mullings, Timothy
Neilly or Marvin Rolle. But
Knowles said the Bahamian
public should be proud of their
performances. é

“The younger guys did the
best they could. Unfortunately,
it wasn’t the result we were
looking for,” said Knowles,
who still holds the record for
the most victories by any
Bahamian player in Davis Cup
history.

“I think we felt that going
into the weekend, we had a
better chance of pulling off the
victory. We knew that they had
a stronger number one player,

-but they were not as strong as

us in the number two and doy-
bles.”

However, Knowles noted
that losing the two opening sin-
gles on Friday really put the
team in a disappointing posi-
tion and they had to fight even
harder to get back into the tie.

On Sunday, Knowles said if
Mullings had extended his
match a little longer with
Paraguayan Ramon Delgado,
the final outcome could have
been a little different because
the former No. 52 player in the
world started to show signs of
fatigue.

“If Devin had capitalized on
the break in the second set and
maybe try to win the second,
he would have made Delgado
work a lot harder,” Knowles
said.

“But there were a couple
calls from the chair (Umpire
Mickey Williams) that really
made a difference. But credit
to them, they came here where
it’s always difficult to win on
the road and they won.”

So far this year, it has been
an impressive run for Knowles
and Bhupathi on the ATP cir-
cuit. Prior to the break for
Davis Cup, the Bahamian-
Indian combo finished as run-
ners-up to. American identical
twin brothers, Bob and Mike
Bryan at the Sony Ericcson
Open in Miami, Florida.

At the end of the tourna-
ment, Knowles and Bhupathi
remained in second place in
the Stanford ATP Doubles

‘Race with 303 points. They

trail the team of Jonathan Erl-
rich and Andy Ram, the lead-
ers with 350 and are ahead of
the Bryans, who are in third
with 271.

After taking a week off to
recuperate and train, Knowles
and Bhupathi, who played for
India over the weekend in the
Asian area, will head to Mon-
to Carlo for their next series
of tournaments on the red clay
courts as they head into the
French Open Grand Slam.

From Monte Carlo, Knowles
and Bhupathi will travel to
Rome and Hamburg, ending
up in France.

“It’s mixed feelings going
into the Grand Slams the
defending champions,” said
Knowles, who won the title last
year with his former partner
Daniel Nestor from Canada.

“We just hope to gain some
momentum going into the next
couple of red clay court tour-
naments. I know Mahesh loves
playing on the red clay and I
enjoy it as well, so I’m hoping
that we can duplicate the same
success.”

And having won back-to-
back titles this year, Knowles
said it would certainly look
good on their résumé if they
can pick up a couple more
titles in this upcoming streak of
tournaments.

For the stories
TCU a A

Rr WEILL
on Mondays



TRIBUNE SPORTS

TUESDAY, APRIL 15, 2008, PAGE 13



Miki MM LS eee ee
«| Lakers, Nuggets win big to gain

control of their playoff fates



Pao

DENVER NUGGETS guard
Allen Iverson in action during
the first quarter of an NBA
basketball game in Denver on
Sunday. (AP Photo: David
Zalubowski)

NBA
Today

i By The Associated
Press

SCOREBOARD
Tuesday, April 15

Sacramento at L.A. Lak-
ers (10:30 p.m. EDT). A
victory by the Lakers would
earn them the top seed in
the Western Conference
playoffs and a homecourt
advantage through the first
three rounds.

STARS

Sunday

— Allen Iverson,
Nuggets, scored 33 points
to lead Denver to a 111-94
win over the Houston
Rockets.

— Hedo Turkoglu, Mag-
ic, scored 24 points with
eight assists in a 104-84 win
over the Chicago Bulls.

SO CLOSE

Allen Iverson scored 33
points and J.R. Smith
sparked the Nuggets out of
their early doldrums with a
23-point performance in
Denver’s 111-94 rout of the
Houston Rockets on Sun-
day night. All the Nuggets
have to do now to reach the
playoffs for the fifth
straight time is beat lowly
Memphis on Wednesday
night at home. Denver (49-
32) moved a half-game
ahead of Golden State for
the eighth and final playoff
spot with their rout of the
Rockets.

ROLLING

MVP candidate Kobe
Bryant had 20 points, five
rebounds and five assists
before sitting out the fourth
quarter, and the Lakers
routed-the defending NBA. .
champion San Antonio
Spurs 106-85 for their sev-
enth win in eight games.
The Lakers (56-25), who
clinched their first Pacific
Division championship in
four years and the No. 3
seed in the West on Friday
night, assured themselves
of a second-place finish in
the conference.

50-WIN MARK

. Hedo Turkoglu scored 24
points, and the Orlando
Magic beat the Chicago
Bulls 104-84 to reach the
50-win mark for the first
time in 12 years on Sunday
night. Andres Nocioni led
Chicago with 22 points and
Luol Deng added 19, but it
wasn’t enough to stop the
Magic from reaching 50
wins for the first time since
1995-96.

STRONG IN DEFEAT

Toronto’s Chris Bosh
scored 30 points in a 91-84
loss to the Detroit Pistons
on Sunday.

SPEAKING

“It’s impossible to feel
good because for three
weeks we’ve been feeling
stressed. You never play
three playoff teams in three
games in four nights in
three different cities that
had huge, huge ramifica-
tions. We survived it; we
-won two out of three, but
we’re still not out of the
woods.”

— Nuggets coach George
Karl after a 111-94 victory
over the Houston Rockets.
Denver needs to beat Mem-
phis at home on Wednes-
day night to reach the play- |
offs for the fifth straight
time.



M@ By The Associated
Press

THE Los Angeles Lakers
and Denver Nuggets took care
of the hard part, winning
important games against qual-
ity opponents to move within a
victory of clinching the top and
bottom spots in the Western
Conference playoffs.

What’s left for Los Angeles
and Denver to reach their
respective postseason goals
seems fairly easy to handle.

Led by Kobe Bryant, the
Lakers routed the defending

NBA ‘champion San Antonio.

Spurs 106-85 at home Sunday
to move into sole possession
of first in the Western Confer-
ence.

Late in Denver, the Nuggets
helped the Lakers and them-
selves, blowing out the Rockets
111-94 to move a half-game

ahead of Golden State for the -

race for the eighth and final
playoff spot in the West.

_The Lakers, who can finish
no worse than No. 3 in the
West, will earn the, top seed
and home-court advantage
through the first three playoff
rounds if they beat the visiting
Sacramento Kings (38-42)
tonight.

“It’s still our responsibility
to finish this the right way,”
Lakers coach Phil Jackson said.
“And that was our message in
the locker room after the
game. Fortunately for us, we
got some rest, got some games
on Sunday, it was Detroit 91,
Toronto 84; Cleveland 84, Mia-
mi 76; Orlando 104, Chicago
84; and Seattle 99, Dallas 95.

All the Nuggets have to do
to reach the playoffs for the
fifth straight season is beat low-
ly Memphis (22-58) on
Wednesday night at home.

Bryant had 20 points, five
rebounds and five assists
before sitting out the fourth
quarter for the Lakers.

“It was a big game for us,”
Bryant said. “It was another
step in the right direction.
Going into the playoffs is all
about momentum. Now, we
just have to take it up another
notch once the playoffs start.”

The Lakers went home after
Sunday’s game uncertain of
their status because the Hous-
ton Rockets had a chance to
overtake them for the confer-
ence title by winning their final
three games. But Houston was

_tKhrottled by Denver.

The Warriors could become
the first team to win 50 games
and miss the playoffs. To get
in, the Warriors need to win
at Phoenix on Monday night,
beat Seattle on Wednesday
and have Denver lose.

Boiujicing in ard out-of the ~

eighth and final playoff spot
for a month, no team has had
more of a roller-coaster ride
than the Nuggets, who won a
huge game at Golden State
only to lose at Utah on Satur-
day night before bouncing
back against the Rockets.
“Tt’s impossible to feel good
because for three weeks we’ve
been feeling stressed,” Denver
coach George Karl said. “You
never play three playoff teams
in three games in four nights in

' three different cities that had





ORLANDO MAGIC’S Hedo Turkoglu



Kevork Djansezian/AP

LOS ANGELES LAKERS’ Kobe Bryant (center) is fouled by San Antonio Spurs guard Bruce Bowen (left) as he drives to the basket while Tim
Duncan defends during the third quarter of the game in Los Angeles on Sunday.

huge, huge ramifications. We
survived it; we.won two out of
three, but we’re still not out of
the woods.”

Allen Iverson scored 33
points for Denver andJ R
Smith added 23.

As for the Rockets, they fell
one and-a-half games behind
Los Angeles and can still
secure the top seed in the
West, but they’re going to need
plenty of help.

Tracy McGrady was flab-
bergasted the Rockets played
so poorly with so much to play
for on this night.

“That team needed a win

‘badly and we played like it

really didn’t matter to us,” said
McGrady, who scored 16
points and was hounded by
foul trouble. “And at this point

in the season, although we

clinched, we still have to bring
it every night.”

In Los Angeles, Tony Park-
er had 20 points, seven
rebounds and five assists for
the Spurs, and Tim Duncan
added 16 points and 12
rebounds. San Antonio played
without leading scorer Manu
Ginobili, who missed his sec-
ond game because of a strained
left groin.

“Come playoff time, we’ll
have as good a chance as any-
body to do well,” San Anto-

Brian Kersey/AP



(15) drives on Chicago Bulls’

Chris Duhon during the fourth quarter of an NBA basketball game
in Chicago on Sunday. The Magic won 104-84.

nio coach Gregg Popovich

said.

SuperSonics 99, Mavericks

At Seattle, rookie Kevin
Durant scored twice in the
final 45 seconds, and the Sonics
won what could be the team’s
last game in Seattle.

The team might be playing
in Oklahoma City next season

and is putting the finishing |

touches on the worst record in
franchise history.

Earl Watson led Seattle with
21 points and 10 assists, while
Nick Collison had 18 points
and 11 rebounds as Seattle
scored the final 10 points and
handed Dallas a second
straight loss.

Dirk Nowitzki led Dallas

- with 32 points and Seattte~
native Jason Terry added 25.

Magic 104, Bulls 84

At Chicago, Hedo Turkoglu
scored 24 points, and Orlando
reached the 50-win mark for
the first time in 12 years.

Dwight Howard added 19
points even though he sat out
the fourth quarter, and
Rashard Lewis added 18.

Andres Nocioni led Chica-
go with 22 points and Luol

~ Deng added 19.

Cavaliers 84, Hear 76

At Cleveland, Daniel Gib-
son made a three-pointer and
three straight free throws ear-

ly in the fourth quarter to give

the Cavs some cushion while
LeBron James rested.

Cleveland moved closer to
the East’s No. 4 seed.

Delonte West scored 18
points, Zydrunas Ilgauskas had
14 and 14 rebounds and James
finished with 13 points, 11
rebounds and seven assists for
the Cavaliers.

Ricky Davis scored 17 points
and Daequan Cook and Earl
Barron had 13 apiece for Mia-
mi (14-66), whose dismal sea-
son is nearly over.

Pistons 91, Raptors 84

At Auburn Hills, Mich.,
Rodney Stuckey scored 18
points, Jason Maxiell had 14
as Detroit won without playing
its starters in the fourth quar-
ter.

The loss drops Toronto (40-
40) into a tie with Philadelphia
for the Eastern Conference’s
sixth seed with two games left,
although the Raptors have the
tiebreaker.

The sixth seed will play
Orlando in the first round,
while the seventh seed faces
Detroit. Chris Bosh had 30
points for Toronto.



NBA Leaders

ll By The Associated Press

¢ Through April 13
SCORING
James, Clev. 74

Bryant, LAL 81
Iverson,Den. 81

‘Anthony, Den. 76

Stoudemire, Ph. 77
Nowitzki, Dall. 76
Martin, Sac. 61
Redd, Mil. 70
Bosh, Tor. 65

Jefferson, N.J. 80

Maggette, LAC 68 ©
J. Johnson, Atl. 80
Davis, G.S. 80
McGrady, Hou. 64
Richardson, Ch. 80
Carter, N.J. 74
Jamison, Wash. 78
Boozer, Utah 79
Paul, N.O. 78
Jefferson, Minn. 80

FG PERCENTAGE
FG

Biedrins,G.S. 324
Chandler, N.O. 370
Howard, Orl. 574
O’Neal, Phoe. 322
Stoudemire, Ph. 700
Childress, Atl. 319
Smith, Minn. 297
Brewer, Utah 345
Lee, N.Y. 332
Boozer, Utah 697

REBOUNDS
G

Howard, Orl. 80
Camby, Den. 78
Chandler, N.O. 77
Duncan,S.A. 76
Jefferson, Minn. 80
Okafor, Char. 80
Odom, LAL 716
Boozer, Utah 79
Dalembert, Phil. 80
Jamison, Wash. 78

ASSISTS
G

Paul, N.O. 78
Nash, Phoe. 719
Williams, Utah 80
Kidd, Dall. 719
Calderon, Tor. 80
Davis, G.S. 80
Felton, Char. 77
James, Clev. 74
Iverson,Den. 81
Miller, Phil. 80

577

FG

784
772
704
724
700
626
417
540
501
598
448
640
640

- 539

628 .

614
697
614
704

FGA

520
595
958
544
1192
558
528

» 619

598
1276

OFF

276
229
317
235
302
254
195
194
293
213

AST

903
879
851
796
659
613
563
534
584
551

543
610
641
457

475
502
399
461
534
541
316
316
236
237
348
330
285
325
275

PCT

623
622
599
1592
587
572
563
557
555
546

DEF

868
800
592
630
589
598
612
629
539
585

2223
2303
2143
1961
1949
1805
1443
1608
1473
1805
1512
1764
1763
1398
1728
1595
1677
1679
1642

‘1683

TOT

1144
1029

865
891
852
807
823
832
798



AVG

30.0
28.4
26.5
25.8
25.3
23.8
23.7
23.0
22.7
22.6
22.2
22.1
22.0
21.8
21.6
21.6
21.5
21.3
21.1
21.0

AVG

14.3
13.2
11.8
11.4
11.1.
10.7
10.6
10.4
10.4
10.2



PAGE 14, TUESDAY, APRIL 15, 2008 TRIBUNE SPORTS

SPORTS

Z



CHINA’S SUN YE competes in the final
of the Women’s 200m breaststroke
at the World Short Course Swimming
Championships at the MEN Arena in
Manchester, England, on Sunday.

orld records keep falling at

®



Photos: Paul Thomas/AP

©

short-course championships

& By ANDREW DAMPF
AP Sports Writer



MANCHESTER, England (AP)
— Led by American Ryan Lochte
and the high-tech swimsuits, the world
records kept falling at the short-
course swimming world champi-
onships on Sunday.

Eighteen world records were set
over the course of five days at the
short-course world championships,
and 17 of them were established by
swimmers wearing Speedo’s LZR
Racer suit. Lochte led the champi-
onships with four world records.

Only three world records were set
at the last short-course worlds in
Shanghai two years ago.

“It has become somewhat the
norm,” United States coach Mark
Schubert said of the records. “But it
never ceases to be so exciting when-
ever a world record is broken.”

On Sunday, six world records were
set in 12 finals. The LZR full-body
suit has also been worn for 18 of 19
long-course world marks set since it
was introduced in February.

Critics of the Speedo suit — with
Arena and the Italian team leading
the assault — cite illegal levels of
buoyancy and call it “technological
doping” since it combines a
polyurethane layer with a layer of
normal fabric.

But swimming’s world governing
body FINA has declared twice in the
past week that there are no problems
with the space-age suit, which .was
designed with the help of NASA.

“It’s always fun to have a little con-
troversy and get people’s adrenaline
going,” Schubert said of the suit con-
troversy. “My prediction is you’re

‘

iy

Men’s 200m backstroke

going to see a lot of swimsuit com-
panies coming forth with innovations.
That’s what makes the sport fun and
interesting.”

Arena already has a new suit ready
and wanted Filippo Magnini, the two-
time world champion in the 100
freestyle, to use it in the 100 final Sun-
day. But FINA said new suits could
not be approved between heats and
finals and Magnini was promptly beat-
en by unheralded American Nathan
Adrian. +

Magnini also struggled at the Euro-
pean long-course championships last
month, where Alain Bernard set



AUSTRIA’S MARKUS ROGAN celebrates after winning the gold medal in the final of the

world records in both the 50 and 100
free in an LZR.

Claudio Rossetto, Magnini’s per-
sonal coach, said the losses are start-
ing to get inside Magnini’s head.

“Certainly these times have gotten
him a little down. But he’s handling it
well. He understands a lot of it is the
swimsuit,” Rossetto said.

Rossetto is in the unique position of
coaching athletes on both sides of the
suit debate. His other swimmer,
Markus Rogan of Austria, set a 200
backstroke world record with a
Speedo on Sunday.

“We’ve opened a new front where
whoever finds the better material has
an extra weapon,” Rossetto said. “I’m
not sure it’s right. All the records are
good, but it takes away some of the
credibility of the sport. Swimming
isn’t a new sport. Now it’s record,
record, record. It takes away from
the importance of it.”

While most of the focus behind the
world records has been on the swim-
suits, several athletes said there was
another factor in play this week.

Before finals, swimmers at the are-
na greeted the crowd by stepping
through a sliding door behind the
pool and out into a spotlight as they
were introduced one by one like box-
ers. The swimmers and crowd
embraced the idea.

“J think it’s easier to break world
records when you’re excited,” Rogan
said.

“Let’s be honest, swimming is a
boring sport. We have to go for more
showmanship. I like the way we walk
in. There was so much excitement it
didn’t even seem that difficult (to
break the record).”

Lochte agreed.

“That’s what got me going. Even
if it wasn’t my home country,” Lochte
said of the crowd. “Besides the
Olympics and the Olympic trials, I
haven’t seen this many people at a
swim meet. The more fans the bet-
ter. It creates excitement and makes
you swim faster.”





RYAN LOCHTE of the United States celebrates after winning gold in the final of the
Men’s 400m IM



THE TRIBUNE TUESDAY, APRIL 15, 2008, PAGE 15

INTERNATIONAL NEWS

VISITORS WALK along a road in front of the National Stadium,
known as the Bird’s Nest for its elaborate network of steel girders,
in Beijing in this Feb. 12, 2008 file photo.

AP Photo

Sandals Royal Bahamian Resort & Offshore Island

Invite application for the position of:

INTERNAL
AUDITOR



ay / vs i k ik ” ao be : fe ‘ % i
Applicants must posses knowledge of the application |

of generally accepted accounting principles, internal - @ 4 e@ .

control systems and computerized systems, ability and Tna In 1 to C eC ar t Ee
willingness to train, counsel and coach employees,

proven ability to create and implement project plans 4 ws @

and re-engineering of existing ways of doing business to a I i e ore t eC QO y mp 1C8
facilitate improvements in productivity as well as strong
leadership in area of responsibility.

@ By ANDREW JACOBS
i sone, & ie New York Times News
Salary will be based upon qualification and experience. | Service .
We offer excellent benefits. Interested persons should BEING — Officials laid out Bu 9 Sel 1?
ni il to: : an ambitious series of measures
submit resume by email to: on Monday that will freeze con- | y:

struction projects, slow down steel

ronarnemcane |Â¥ Expect more from your broker.

in and around the capital this sum-

Send resume to: mer in an attempt to clear the air
for the Olympics.
Even spray painting outdoors y

: will be banned during the weeks ae L.
Director of Human Resources «Peters and after epattliig events, oo. Gs ine Wi th L CF A
P.O. Box CB-13005 which begin Aug. 8. Set â„¢ ce
E-mail CMajor@grp.sandals.com Although officials initially sug- a.

. CMajor@grp.sandals.com os | gested the city’s wholesale trans-





formation would be complete long
: before the opening ceremonies,

: the announcement nonetheless

_____ cezresents the most detailed pos-
se sible plan for how Beijing might
| ROYAL BANK OF CANADA WEALTH MANAGEMENT reach its long-standing pledge to
is considering suitable applications ae stage “green games” in one of the

world’s most polluted cities. In
earlier proclamations, officials had
said that the city’s makeover

He ad of Op erations. ih would be competed by the end of

The measures announced Mon-
day include a two-month halt in
construction, beginning July 20,

* “and government directives will
force coal-burning power plants

e | Dwi dia aon ae cote 1on"\
7 : FA corporate Follow we







The gucdesefiil candidate should oat: the following
qualifications: e bene ta ns i
¢ Post Graduate degree in Business (or a related field

Atleast Soe experienée: desea rip to reduce their emissions by 30.
perations experience require ‘| percent throughout most of the

¢ Strong communication and interpersonal skills summer.
e Effective leadership and problem solving skills Officials said that 19 heavy-pol-
¢ Microsoft Office skills (Word, Excel, Power Point) luting enterprises, including steel
mills, coke plants and refineries,
Responsibilities include: . would be either temporarily moth-
Overall administration and business operations of | balled or forced to reduce pro-

duction. Gas stations that do not
meet environmental standards will
closed, cement production will

the company
Provide effective leadership to direct reports and

other staff
Manage and lead the Operations teamin | Safe wife forbidden Whether you are a new or seasoned investor,
implementing and executing strategies If Beijine’s-ai i :
Provide direction relative to the identification of | ceptably sulliedin the days leading CFAL offers the most complete brokerage
proces and Sipe iaimel rr npr rae up the games, officials said they ee ec Th B h

oblem resolution and the imp ementation of new would take “stringent steps” to
initiatives and activities curb polluting industries, although service in e Banamas.
Attainment and maintenance of established. _- they declined to say what those

measures might be. “We will do
everything possible to honor the
promise,” Du Shaozhong, deputy

procedures and overall accountability for mitigation
of operational and/or credit risk

Call us today. We'll show you how to get the most out





Assist in developing and managing the unit’s ‘ Pre j j
director of Beijing’s Environmen- of our inves nts :
business and financial plan to ensure growth tl - De atection Bureat, gaid'during bd tme by getting the most out of us
a news conference. “Just tell ,
Interested persons should apply by Monday, everybody they don’t have to wor-
April 21, 2008 to Elizabeth Dorsch. 2”
‘ Some Olympic officials and ath-
Please apply to: : | letes remain unpersuaded,
Although the government has
Elizabeth Dorsch “| made notable strides in reducing
Royal Bank of Canada Wealth Management ee ee
RO. Box N-3024 sta) aonres in car ownership has :
as
Nassau, N.P Bahamas : _ | erased many of those gains. There Cc FAL
. are about 3.5 million vehicles j iog j
Via fax: (242)327-7382 choking Beijing’s roadways, with Brokerage 6 Custodial Services {postin Corporate Advisory
Via email: elizabeth.dorsch@rbc.com about 1,200 new cars joining the Pension Administration | Shareholder Services
peg aafeadeepuharnn an Nassau - T: 242-502-7010 | F: 242-356-3677
anit GGSE likely be repeated this Freeport - T: 242-351-8928 | F: 242-351-4050
Ne summer, the authorities forced info@cfal.com | www.cfal.com
\ OMG IMStiilGeee « more than-half the Beijing’s cars ez
RBC of Canada and trucks off the road. Officials »

said that they would present plans
to restrict traffic at a later date.



Our wraps are made with tender,
center cut chicken breast.

s








1 | INSURANCE MANAGEMENT

(BAHAMAS) LIMITED. IN SURANCE BROKERS & AGENTS









“Today Wednesday WINDS WAVES _VISIBILITY. WATER TEMPS.





















High =Low W High Low W WASSAU = Today: NW at 20-30 Knots 3-6 Feet 7-10 Miles 77°F
. _ FL F/C 2 FL F/C Wednesday: NW at 12-25 Knots 3-5 Feet 7-10 Miles 77° F
“Acapulco ————sC8G/B. 72/22 po = BB/B1 74/23 PC FREEPORT Today: NW at 20-30 Knots 5-8 Feet 7-10 Miles 77°F
Amsterdam = = SO/10 36/2 sh = SO/10 35/1 pc Wednesday: N at 15-30 Knots 5-8 Feet 7-10 Miles 77°F
; “Ankara, ee ens a s sre : 2 pe ABACO Today: NW at 20-30 Knots 5-8 Feet 7-10 Miles 77°F
Windy with sunshine Partly cloudy, bree Partly sunny and Sunny and beautiful. Plenty of sun. Mostly sunny and The higher the AccuWeather UV Index™ number, the Athens es 52/11 pe OE 93/11 s Wednesday: NNW at 20-30 Knots 7-9 Feet 7-10 Miles 77° F
acon clouds. vad vod . brea. : : plesaant i greater the need for eye and skin protection. rAuckland’= 72/22 | BSN7 tt 68/20 262Gb =c
‘ / High: 79° High: B1° High: 81° High: g2° Bangkok 95/35 81/27 t 98/36 81/27 pc
. . 75/23 pe 84/28 75/23 pe
- Low: 63° Low: 66° Low: 68° Low: 70° Low: 70° . eee





AccuWeather RealFeel crue laced AccuWeather RealFeel

AccuWeather RealFeel

4718 s 58/14 49/9 c




















81°-67° F 82°-68° F 83°-69 a : : SO/2° Ss rifeo.- Salle pe
| B1-67°F |] § | 82°-68° F Pas-69F “7121 s 72/22 63/17 s
The exclusive AccuWeather RealFeel Temperature? is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure, and Today 4:57am. 2.6 “TH: :03 a.m. 0. 2 BTR ‘ - “5T she
: elevation on the human body—everything that effects how warm or cold a person feels. Temperatures reflect the high and the low for the day. 5:21 p.m. 2.6 11:29p.m. 0.2 32/0 sh
; nesdayoo! am. 2.6 52am. 0.2 Rn Tes aw
me Ye12 pm. 2.8 = ----- : 47/8 +
Statistics are for Nassau through 2 p.m. yesterday Thursday 639am. 26 12:22am. 04 ‘Brusséls i 32/0 Sh : : - a
: ABACO : Temperature 6:57 p.m. 2.9 12:35p.m. 0.1 45/7 sh / —~: hg P Ee winby
High: 70° F/21°C ea 84° F/20°C Friday 72tam. 26- 109am. 01 ae = rs ) ; cr
Low:62°F/17°C us ee 738 p.m. 3.0 1:15pm. 0.1
Ww: 62° F/1 NOMMANRIGH: ssiscrcosutietininesnesnt BI? MOTO © cata Sai
be: Normal lOW oot eeeeestesteseeeeeeeeees 09°? F/21° C 29)-1 c
WEST PALM BEACH Last year's Nigh ..cccscsssccssseuseee sess, 85° F/30° C 16 po
> High: 72° F/22°C Last year's OW ou... versace 74° F/23° C
=Low: 55° F/13°C Precipitation Sunrise......6:47a.m. “Moonrise .
As of 2 p.m. yesterday wo... svt 0.29" 7:33 p.m. Moonset
: VOAl MO Cate esas tssccesscssssctlisscosesvtssssestiecssseas O1OO) New I
Normal year to ALG: ie nssssnsssscsestecsecessenieerenss O09" 50/10 eth pe
AccuWeather.com
Forecasts and graphics provided by ® Showers
ELEUTHERA AccuWeather, Inc. ©2008 Apr. 28 = May5 ee 28 78/250" 26 pe T:storms
High: 78° F/26° C . Rain :
77° ER Low: 67° F/19°C “stan , lope Flurries Shown are noon positions of weather systems and
77° F/25 . ‘ : : : : : Snow precipitation. Temperature bands are highs for the day.
63° F/17° : a Ice Forecast high/low temperatures are for selected cities.
KEY WEST CAT ISLAND | ) natin 1a
High: 73° F/23° C High: 78° F/26°C aq sh 21 38/8 sl
Low: 64° F/18°C Low:65°F/18°C
= _ &



on

AUTO INISURANC

GREAT EXUMA SAN SALVADOR Montreal on ee Batt S62 -p0 cy of
Low 6 FAC High: 82° F/28° C Mosc | 500 &
Shown is today's weather. Temperatures are today's ANDROS | ow: 70° F/21°C ‘Nairc
highs and tonights's lows. High: 80° F/27°C
Low: 69° F/21°C












Today Wednesday Today Wednesday Wednesday = MAYAGUANA
High Low W High Low W High Low W High Low W High Low W High Low W High: 90° F/32°C
FC FIC FC FC FC F/C FC OFC ce F/C Low: 73° F/23°C
Albuquerque 78/25 46/7 $s 73/22 42/5 s Indianapolis 61/16 40/4 s~ °72/22 49/9 s Philadelphia’ ” ot
Anchorage 41/5 25/-3 sf 41/5 24/-4 pe Jacksonville 66/18 40/4 pe 68/20 41/5 s Phoenix -
Atlanta ~~ 60/15" 38/38 s 70/21 45/7 ss Kansas City 69/20 51/10. s > °72/22 53/11 pe _—Ss=Piitttsburgh

Atlantic City 56/13 31/0 s 64/17 40/4 s Las Vegas 80/26 a s 72/22 52/11 s Portland, OR











. eo
Baltimore =» 60/15. 32/0 's 69/20 40/4 ss —sLittle Rock) 68/20" Raleigh-Durham’ 60/1 s- ene m3 ‘
Boston 5412 37/2 s 6116 42/5 s Los Angeles 68/20 53/1 me 75/23 55/12 _ ve St. Louis 68/20 46/7 77125 sat : ; i UpaTRaT eas 85/29 74/234” :
Buffalo 52/11 33/0 ss 63/17 43/6 s” Louisville 637 415 8 - 75/23 © Salt Lake City” . GREAT INAGUA Tol 69/20 56/13 pe Lt ' ’ ve MANAGEMENT f
Charleston,SC 64/17 39/3 pce 67/19 43/6 s Memphis 68/20 45/7 s 79/23 54/12 s San Antonio 74/23 57/13 High: 89° F/32°C rae 4 G26 A one oe Aa
Chicago = SONS 49/6 S701 48/7 ss Miami nanan ateeienannesas $s San Diego 67/19 54/1: tees ini OY Luli.) (SAHAMAS) LIMITED. INSURANCE BROKERS & AGENTS
Cleveland 54/12 35/1 s 66/18 44/6 s Minneapolis 70/21: 47/8 ~s-. 62/16 40/4 to San Francisco Se aa side [23 ye yay BIA» Aye
Dallas 70/21. 5412 s 77/25 60/15 's Nashville 62/16 38/3 s 7222 467 s Seattle f tH a ‘ FrAVl Flouthera yum
Denver 78/25 34/1 s 39/3 27/-2 + New Orleans 69/20 49/9 s 74/23 60/15 s Tallahassee 65/18 “38/3 S 74/23 40/4 S : _* varsaw aaa 3 3) aA - Be
Detroit > $8/14 38/3 s 69/20 46/7 's New York 57/138 48/6 ss 68/20° 48/8 ss Tampa 70/21 49/9 “pe 75/23: SE 2 Winnipeg 62/16 40/4 c 52/1 34/1 ¢ ALE Ie (241) 332-1862 if (247) 336-2304
Honolulu 83/28 70/21 pe 82/27 71/21 s Oklahoma City 72/22 52/11 s 73/22 56/13 pe Tucson 92/33 59/15 s 82/27 52/11 s oe



:S- , pe-partly cloudy, e-cloudy, sh-showers, t-thunder-
Houston 2 75/23-538/1t so. 7725-687 Ss — Orlando 67/AGee46/F pes 78/22—54/12—po —-~ Washington, DC 60/15 40/4 s 69/20 45/7 5 Weather (W): s-sunny, pe-partly cloudy, ¢-cloudy. r

storms, t-rain, sf-snow flurries, sn-snow, i-ice, Prcp-precipitation, Tr-trace fae et ena ne eT ETE vein (SAD RATS





TUESDAY,

PS:

APRIL



15,



Tribune Business Editor

ore than $100 million
in Bahamian dollar-
denominated financ-
ing will have to be
_raised to fund the
Lynden Pindling International Airport
(LPIA) redevelopment, the Airport
Authority’s chairman yesterday
addressing concerns harboured by
Bahamas-based financial institutions
by saying they would have “great
opportunities” to participate.

Frank Watson, responding to fears
raised by Bahamas-based commercial
and investment banks over an ‘exclu-
sive agreement’ the previous adminis-
tration and Airport Authority Board
had reached with global giant Citibank
in relation to the airport project financ-
ing, admitted that there were “con-
cerns” over that arrangement.

“The position is that in the agree-
ment signed with Citibank, they oper-
ate in the role of adviser [to the $400
million financing] as well as arranger,”

i

Airport needs 4
of iad in BS financing

@ By NEIL HARTNELL



ROYAL SFIDELITY

Money at Work

NASSAU OFFICE
(242) 356-9801

FREEPORT OFFICE
(242) 351-3010

- Lotal financial institutions ‘eager to get into the ring’, as Airport Authority chair says ‘great opportunities’ for their participation
* Watson admits ‘concern’ on lead financing deal PLP signed with Citibank, saying adviser/arranger agreement shuts out any alternatives
* Airport financing targeted to be in place by June, with construction to start ‘later this year’

Mr Watson told The
Tribune. ae

“That is something §§
that continues to give
us concern. The deal
is signed, though, and |
our Board members
as well as the Nassau
Airport Development
Company’s (NAD)
financial officers have
been‘ discussing with
Citibank that particular issue to deter-
mine the extent to which Citibank
might relent, to some extent, to permit
another group to do some, if not all,
the arranging for the loan.”

Mr Watson effectively confirmed
reports reaching The Tribune that
Bahamas-based financial institutions

were becoming increasingly uneasy —

over whether they would be able to



participate in the airport financing, giv-~

en the arrangement with Citibank,
which many had perceived as a ‘lock
out’ giving the global financial institu-
tion the exclusive responsibility to
finance the critical infrastructure pro-

ject.

The Tribune understands that Prov-
idence Advisors, CFAL and Royal
Fidelity Merchant Bank & Trust have
all written to the Government express-
ing their concerns over the issue, and
noting their interest and willingness to
participate in providing financing.

The position, though, is that the

agreement signed with the former

Christie administration stipulates that
Citibank will have the lead role in
forming the syndicate of lenders that
will provide the collective $400 million
loan for the project. This is not the
same as an ‘exclusive’ on the financing.

~However, given that Citibank will
also be acting as financial advisor to
the financing, The Tribune understands
that both the current government and
Airport Authority Board feel the
agreement negotiated under the for-
mer Christie administration was not in
the Bahamas’ best interests. .
There are also likely to be penalties
included in the agreement that would
be triggered should it be terminated

_ by one side or the other, something

that could add to the Government’s
and taxpayer’s financial burden should
they be the ones to exit.

As a result, private sector sources
said negotiations with Citibank were
ongoing, but the bank was proving
hard to shift from the original position
spelt out by the agreement.

Mr Watson said of the agreement
signed under the former PLP adminis-

Rum Cay developer 82% public school maths

to start Phase One
work on July

” gf By NEIL HARTNELL

Project to include

UP to 82 per cent of Bahami-
an public school students who

‘illiteracy’ harms economy FF

@ By NEIL HARTNELL

* Researcher says Bahamian education woes will-lead to
Tribune Business Editor

over-reliance on expatriate labour and social tension
* Up to 59% of 2006 BGCSE maths candidates

tration: “It really doesn’t give us the
opportunity to look at other alterna-
tives.”

He did, though, confirm that what-
ever financing was arranged for the
$400 million LPIA redevelopment was
likely to take the form of a syndicated
loan.

Mr. Watson, the former deputy prime
minister under the first Ingraham
administration, confirmed that the $400
million would include both US$ and
Bahamian$-denominated tranches.

The plan, he added, was that the
US$ foreign currency borrowing would
fund the purchase of construction
materials, goods, supplies and other
needed services from abroad, while
the Bahamian$ component would cov-

SEE page 5B



Tribune Business Editor-~

THE developer behind the
$700 million Rum Cay Resort
Marina yesterday told The Tri-
bune it has “every intention” of
starting Phase I infrastructure
work at the Sumner Point Mari-
na on July 1 this year, as it pre-
pares to launch a Founders Pro-
gramme for its main develop-
ment this week.

Michael Farrant, Montana
Holdings’ chief operating offi-
cer, said the developer
remained “hugely positive”
about the Rum Cay project
despite the global credit/liquid-
ity crunch and general econom-
ic downturn, having secured
additional financing to take the
development forward.

Mr Farrant said Montana
Holdings was seeking 40
founders to kickstart sales of

beachfront lots at its main 897- .

acre site on the southern coast
of Rum Cay. The developer
also plans to build a clubhouse
there as part of the Phase I
infrastructure works.

“We are releasing the
Founders Programme at the
end of this week,” Mr Farrant
told The Tribune. “We are
improving operations down
there, and are looking to start
on July 1 at the Sumner Point
Marina and any of the founders
who want to build homes [at
the main site].”

Sumner Point marina
upgrade, with Founders
Programme for main
897-acre site to be
launched this week

Montana Holdings acquired
the Sumner Point Marina from
American investor Bobby Lit-
tle, although that transaction
has yet to close as final govern-
ment approvals are still awaited.

“We need to finish closing
with Bobby Little and the land
options. Everything looks great
and we just need to finish that
off,” Mr Farrant told The Tri-
bune.

“Government approval is not
in yet, but we don’t foresee any
issues with that. It’s an existing
marina and all we’re doing is
upgrading it. We already have
subdivision approval.”

Mr Farrant said that among
Montana’s Phase I plans for the
Sumner Point Marina were to
straighten out some of the edges
in the harbour, dredge the mari-
na to a depth of 12-13 feet,
building out the breakwater to
ensure marina depth is main-
tained, and “improving the
existing docks and increasing
their overall number”.

SEE page 5B

CABLE BEACH #1617 Luxury beachfront 5 bedroom 4 bath
home with panoramic sea views of Cable Beach. Self-contained guest

"quarters in the Main house, 3-car garage with spacious 2 bedroom
guest aparment above. Pool. US$3,600,000. ExcLusive LIsTING.
Richard.Sawyer@SothebysRealty.com 242.424.9792

* |
Damianos |

SIRbahamas.com

t 242.322.2305

Sothebys

INTERNATIONAL REALTY

f 242.322.2033



sat the BGCSE maths exam in
2006 “may. not meet” basic
international literacy standards
in the subject, a researcher has
warned, adding that this
nation’s-education failings will
lead to slower economic growth
and over-reliance on foreign
labour.

In his latest research paper
on the Bahamian education sys-
tem, Bahamas-based economist
Ralph Massey, who helped to
research the Coalition for Edu-
cation Reform reports, satd this
nation’s level of academic
achievement - as measured by
the annual BGCSE results -

may not be at global literacy standards

* Says lasting, successful reforms will take 20-30
years, but produce 36% GDP growth return

* Current education results mean Bahamas
viewed as ‘developing country’

meant it should be classed as
“a developing country”.
Analysing the 2006 BGCSE
maths grades produced by. the
1,582 students from seven New
Providence public schools who
sat the exam, and 794 students
from the island’s 13 private
schools, Mr Massey said only 2

per cent of public school can-
didates earned ‘A’ and ‘B’
grades.

Based on the eight-grade
BGCSE grade system, from ‘A’
to ‘U’ or ungraded, Mr

SEE page 4B

Drive a Honda Fit and get up to
40 miles per gallon









ise } > od 1 ~~ i y % | 4
Ee ea ae SP ie ie |

= = a. » X | " t

i: Po you. know Where -
, | ~~ + your stocks, bonds, and
| ends are? :





ora A a FIDELITY EY te) 43.713 Eccl e

Peers eke aT rent Teer

att / sell stocks, bonds, Me eats Saree
GoM hee Raval Match

CR shai) aria) Petia ee ese

e Benefit from professional expertise and objectivity

Royal Ceti a Brokerage Accounts

ROYAL BFIDELITY

royalfidelity.com
Money at Work

De
Nassau: 356.9801 © Freeport: 352.6676



PAGE 2B, TUESDAY, APRIL 15, 2008

THE TRIBUNE



Rising energy, food costs make for a difficult 2008

IN this column on August 23,
2005, I wrote: “However, we
caution that if oil remains at
current levels for too long, it is
only a matter of time before it
becomes a drag on our econo-
my through higher domestic
prices (inflation) and/or reduced
tourist travel.

“For instance, the fuel sur-
charge on our BEC bill is a
mechanism that allows an
immediate pass through of high-
er oil prices; the transportation
sector, which includes shipping
and ground transportation such
as taxis and buses, will be agi-
tating to increase prices, and
don’t forget that oil is a critical
cost component of most manu-
factured goods.

“As a nation we need to start
considering initiatives to

encourage greater use of alter-
native energy sources. I am told
that in the most recent Budget,
customs duties on solar panels
were eliminated (or greatly
reduced).

“If this is so, it is certainly a
step in the right direction, but
let’s go further and reduce cus-

. toms duty on hybrid cars, wind

turbines, industrial recharge-
able batteries and the like. We
need to start thinking about
these things now and not when
oil reaches $100 per barrel.”

Now that oil has settled
around $100 per barrel, what is
our national plan?

Why is the price
of oil so high?

There are several reasons

OG naar a Acie Ty

GET MORE FOR LESS



why the price of oil is so high.
At an energy conference in the
United Arab Emirates in Janu-
ary 2008, John Browne former
chief executive of British Petro-
leum (BP), said: “High oil prices
are well supported by a,num-
ber of factors, including tight
global inventories, leaving lit-
tle reason to expect prices to
ease much.”

Another related factor is that
Iraq, a major oil producer, still
has not been able to bring its
production capacity back to pre-

Leaders in food distribution for retail and club packs are accepting applications for the

position of:

PRODUCE SUPERVISOR
The Job & Requirements

To manage all aspects of the daily operations on a profitable basis. Must

have a

tm understandin

of Produce Purchasing, Standard Operating

Procedures and Merchandising. Must have past success in managing
loss and damage. Possessing excellent_communication skills with proven
ability to build teams. Proficiency in Excel & Word programs is required

with a minimum of 3 - 5years experience in Produce Management

We offer Great Benefits:

Growth & Advancement within the organization
A salary that will commensurate with experience
Group Medical & Pension Plans

Employee Discounts
Profit Sharing

A Supportive team environment .

Interested persons should send their resumes to

hr@abacomarkets.com



NOTICE

Tenders are invited for the purchase of the following:

“ALL THAT piece parcel or lot of land in the Subdivision called and
known as “EASTWOOD? situate in the Eastern District of the Island
of New Providence and being Lot Number Twenty (20). Situated
thereon is a Single Family Residence with Four(4) Bedrooms and
- Two(2) Bathrooms Entry Oye Living Room, Dining Area, Family

Room, Kitchen.

Property Size: 9,000 Square Feet.

This property is sold under our Power of Sale contained in
a Mortgage dated 27th February 2006 .
forwarded in writing in a sealed envelope, addressed to the Risk
Manager P.O.Box N-3180, Nassau, Bahamas and marked “Private

& Confidential’.

All offers should be

Bids addressed in the above manner may also

be faxed to 393-6127. All offers must be received by the close of
business 5:30pm, Friday, 31st May 2008.

The right is reserved to reject any or all offers. |



war levels, while the Organi-
sation of Petroleum Exporting
Countries (OPEC) seems to
have its members under control
as it relates to production out-
put. In fact, at the same confer-
ence, US energy secretary Sam
Bodman pointed to low oil
inventories, as he repeated a
plea for OPEC oil producers to
boost output.

Finally, basic demand for oil
is at an all-time high. Brazil,
Russia, India and China have
emerged as prolific consumers
of oil and basic commodities in
the past decade, thus pushing
up costs substantially.

Alternative Energy Sources

Many persons believe, at least
in the short-term, that the first
option is the widespread use of
‘blended fuels’ such as ethanol.
According to the US Depart-
ment of Energy, ethanol is a
renewable transportation fuel
primarily made from starch
crops, such as corn. It is also
made from sugar beets and cane
or cellulosic materials, such as
fast-growing trees and grasses.
Nearly one-third of US gaso-
line contains ethanol in a low-
level blend to reduce air pollu-
tion.



- Check that Cheque

out of accepting
cheques at your

Cheque Verification & @Collection Services

Kel wit:

2A Dewgard Plaza Madeira Street

Ethanol fuel is the same type
of alcohol found in alcoholic
beverages, and it can be used
as a biofuel alternative to gaso-
line. It is widely used in cars in
Brazil, and increasingly so in

the US. Because it is easy to .

manufacture and process, it is
steadily becoming a promising
alternative to gasoline through-
out much of the world.

Most cars on the road today
can run on blends of up to 10
per cent ethanol, and the use of
10 per cent ethanol gasoline is
already mandated in some US
cities.

Unintended Effect

In economics, there is some-
thing called ‘unintended eco-
nomic effects’. The increasing
use of corn crops to produce
ethanol is causing farmers to
produce their crops for the
ethanol industry, as opposed to
selling it into the general food
supply chain. In my last pub-
lished column I expressed my
shock upon learning that the

price of many basic agricultural.

crops had increased substan-
tially over the past year alone.

So, while on one han, society
is trying to reduce its depen-
dency on imported oil by the



Take the risk





Business




use of alternative energy and
‘blended fuels’, the diversion of :

crops from the food supply::

chain to produce biofuel is caus- !

ing the price of basic food items
to increase.

Two additional reasons why
the cost of food is increasing
are: a) Demand is rising rapidly,
particularly from China, where
the emphasis is on industrial
output as opposed to farming;

and b) There have been weath- :

er shocks in various parts of the
world - drought in Australia,
for example.

What does this all mean
for the Bahamas?

The Bahamian economy will
undoubtedly be challenged in
2008. The rosy economic
growth picture that was being
widely projected as recently as
six months ago by economic
observers (me included) will

now have to be revised down- ,

wards.

The prospect of rising food
prices and exorbitant energy
costs makes for a difficult out-
look for the reminder of this
current year, unless we can get
foreign investment flowing once
again. In the interim, we would
suggest that everybody volun-

tarily start the process of ‘belt- ‘

tightening’ in order to cushion
the impact of higher oil and ris-
ing food prices. It is never
easy...but it is necessary.

However, for those with cash
or access to funding, and a long-
term vision, there could be
many opportunities. Until next
week...

NB: Larry R. Gibson, a Char-
tered Financial Analyst, is vice-
president - pensions, Colonia!
Pensions Services (Bahamas),
a wholly-owned subsidiary of
Colonial Group International,
which owns Atlantic Medical
Insurance and is a major share-
holder of Security & General
Insurance Company in the
Bahamas.

The views expressed are
those of the author and do not
necessarily represent those of
Colonial Group International
or any of its subsidiary and/or

- affiliated companies. Please.
_ direct any questions or, com-,,

ments to rigibson@atlantic-
house.com.bs -

VACANCY FOR THE POSITION OF:
EXECUTIVE ASSISTANT
MAJOR COMMERCIAL BANK

Core responsibilities:

e Administers incoming phone calls and mail from both internal and
external customers by receiving, screening, and dispatching calls,
and drafting responses or referrals to mail.
Prepares PowerPoint presentations when requested by the

Supervisor

Records and prepares minutes for meetings chaired by Supervisor,
by using a laptop computer/shorthand during meetings.
‘Serves as the Assistant Secretary to the Bank’s Board of Directors
in the absence of the Executive Assistant.
Serves as the Information Bank (IB) Manager for the Bank’s
. online services in the absence of On-line Banking Co-ordinator.
Compiles, prepares and maintains numerous internal Bank and
branch documents and reports.

Performs other secretarial duties as required.

Knowledge, Skills and Abilities:

Associates Degree and Certified Professional Secretary Rating, or
Certified Administrative Professional Rating
Knowledge of Bank policies, procedures, services and terms.

Oral and written communication skills, including etiquette and

writing skills.

Ability to treat information with confidentiality and

professionalism.

Detailed knowledge of computers to use Bank’s network and its
core banking applications to complete correspondence

Benefits

include:

Competitive salary

with

commensurate

experience and qualifications; Group Medical (includes dental and

vision) and Life Insurance; Pension Scheme.

Interested persons should apply no later than
April 30", 2008 to:

DA 62063B

c/o The Tribune

P.O. BoxN3207

Nassau, Bahamas





THE TRIBUNE

TUESDAY, APRIL 15, 2008, PAGE 3B



Port purchaser: Immigration changes only with consensus

A POTENTIAL Grand
Bahama Port Authority
(GBPA) purchaser said it
would only seek a change to the
Bahamas’ Immigration laws and
policies if Freeport businesses
and residents felt this was nec-
essary to “propel the currently
flailing island into the industri-
al and financial centre the
Hawksbill Creek Agreement
was created to promote”.

Roddie Fleming, principal of
Fleming Family & Partners, said
that if the private wealth man-
agement and private equity
group was successful in its bid to
acquire the GBPA and Port
Group Ltd, it would not
attempt to impose its own immi-
gration policy for the Global
Economic Gateway free trade
zone it initially proposed to cre-
ate in Freeport.

In a statement, Fleming said
concerns expressed in some
newspapers over its plans had
“only managed to only further
intimidate those who are
already fearful of investing in a
Freeport with its current
depressed economy.

“In fact, the assessments
being made to seek out local

opinion indicate to date that
many on-island companies rate
immigration as one of the key
factors causing their inability to
change strategies quickly, their
difficulty in moving forward
with new projects and a loss of
work productivity due to
bureaucracy.”

Fleming added: “If Fleming
ever seeks to ask for permission
to change or amend current
immigration structures, it would
only do so if any such applica-
tions were conclusions flowing
from a local consensus that any
such change was an agreed, nec-
essary - and probably tempo-
rary - policy that would be a
key factor needed to propel the
currently flailing island into the
industrial and financial centre
that the Hawksbill Creek
Agreement was created to pro-
mote.”

Mr Fleming said his company
was obtaining expert reports

and opinions it hoped would

assist them and Grand Bahami-
ans to compete in the world
marketplace on firm footing.
He added that his advisors
eventually agreed that immi-
gration was a possible future

issue “that had to be at least
acknowledged and not ignored
when considering all options to
kick start and then successfully
propel Grand Bahama for-
ward”.

The release said Mr Fleming
was personally funding the first
of many strategic economic and
manpower impact assessments
on the island.

“These assessments will not
only rely on quantitative facts
from leading economic consult-
ing firms in Nassau and the US,
but most critically from input
collected by the on- island team
that is collecting public feed-
back,” Fleming said.

“Any such forward-planning
exercise would be unrealistic
and defective if the on-island
interview process did not specif-
ically include the sensitive immi-
gration issues.’

Fleming said an initial report
made for it, which was then
passed to the Bahamian gov-
ernment, was an initial overview
that was thoroughly, but quick-
ly, done to assist in the purchase
procedure.

It needed to be backed by
more in-depth impact assess-

Butterfield Bank’s loan portfolio grows 205.1%

B By NEIL HARTNELL
Tribune Business Editor

BUTTERFIELD Bank’s
Bahamian operations saw their

loan book grow by 205.1 per:

cent to $41 million in 2007,
something its Bermuda-based
parent said reflected “strong
demand” for its international
mortgage product.

The bank’s 2007 annual
report said its Bahamian opera-
tions, comprising the private
wealth management functions

of Butterfield Bank (Bahamas)
and Butterfield Fund Services
(Bahamas) fund administration
capacity, saw total assets under
administration increase by 40
per cent in the 12 months to
December 31, 2007, to $5.447
billion.

Butterfield Bank said: “Our
Bahamas businesses experi-
enced good growth during 2007,
building on the success of 2006.
Our profile was enhanced, and
grew locally and internationally
through focused business devel-

NOTICE

NOTICE is hereby given that LUCIA SAIN PINDER OF
8 WOODS RODGERS DRIVE, 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 15th day of
APRIL, 2008 to the Minister responsible .for .Nationality.

and Citizenship, P.O.Box N-7147,..Freeport, . Bahamas. ._}



opment and marketing activi-
ties related to bespoke financial
and fund. administration prod-
ucts.”

The bank added: “One of the
most notable successes in 2007
was the growth in the loan book
of 205.1 per cent, reflecting

strong demand for the interna-

tional mortgage product. “We
were also able to embrace and
launch a key jurisdictional ser-
vice during 2007 using the
Bahamas Private Trust Compa-
ny (PTC). The PTC can play an
important role in the manage-
ment of an ultra high net worth
individual or family’s wealth, in
essence providing the structure
for a Family Office.”

During fiscal year 2007, But-
terfield’s Bahamas operations
saw their net income increase
by 38.9 per cent to $3.1 million,
with revenues up 32.7 per cent
to $12.1 million.

Customer deposits grew by
10.3 per cent to $154 million,

- with the Bahamian.operation’s ...
total.assets. growing by. 16.9 per...

cent to $182 million.

VACANCY FOR THE POSITION OF:
ADMINISTRATIVE ASSOCIATE
MAJOR COMMERCIAL BANK

Core responsibilities:

¢ Assists supervisor and other persons in the Executive Office with
tasks such as drafting routine correspondence, taking accurate
notes during meetings, typing memos and reports, filing,
organizing items, scheduling appointments, and answering the

telephone.

Collates and/or distributes reports by collecting data, completing

the appropriate document and circulating to appropriate staff.
Performs general tidying, organization and replenishing for
functions in the Executive area including refreshments and

stationery.

Monitors supplies with a view to re-ordering before stocks are

depleted.

Knowledge, Skills and Abilities:

Associates Degree or equivalent and one to three years of office

experience.

Oral and written communication skills, including etiquette and

writing skills to interact with Executive/Senior management staff
and the general public.
Ability to treat information with confidentiality and

professionalism.

Training in public relations and good presentation skills e.g.

telephone manners.

Working knowledge of computer programs to use the Bank’s
network and its core banking applications.

Benefits

include:

Competitive

salary commensurate with

experience and qualifications; Group Medical (includes dental and

vision) and Life Insurance; Pension Scheme.

Interested persons should apply no later than
April 30", 2008 to:

DA 62063A

c/o The Tribune

P.O. BoxN3207

Nassau, Bahamas



ments to get a complete view
of the facts from the island’s
residents, which was now being
done.

Fleming’s Freeport-based
consultant, Global Fulfillment

Services’ Rob Millard, said he
had been asked to compile a
strategy based on residents’
opinions and comments.
Fleming added that a well-
financed and growing Grand

Bahama would need thousands
of new workers in growing busi-
ness areas that are labour inten-
sive, tourism and technology-
related, and that foreign help
may be needed to achieve this.

ABACOMARKETS

LIMITED

Abaco Markets Limited, a leading food distribution company with five retail and
club outlets is accepting applications for:

RETAIL BUYERS

The Job

To grow the retail business through purchases that anticipates and provides
unlimited options to meet consumer demands. The candidate must have a
firm understanding of market trends, with a clear understanding of logistics

along with the ability to establish and maintain effective vendor relationships.

Requirements

Minimum of 3 years experience, proficient in Word & Excel suites, Excellent
Oral and Written skills is a must. Marketing experience will be considered a plus.

We offer Great Benefits:

Growth & Advancement within the organization
A salary that will commensurate with experience
Group Medical & Pension Plans

Employee Discounts

Profit Sharing

A Supportive team environment

Interested persons should send their resumes to:

hr@abacomarkets.com



Bank of Hawaii Corporation and Subsidiaries
Consolidated Statements of Condition



December 31, December 3),



(dollars in thousands) : ‘ 2007 2006
Assets. 3
Interest- Bearing Deposits : $ 4,870 § 4,990
Funds Sold : 16,000 50,000
Investment Securities

Trading 67,286

Available-for-Sale 2,563,190 2,597,877

Held-to-Maturity (Fair Vaiue of $287,644 and $360,719) 292,577 371.344
Loans Heid for Sale > deal 11,942
aoe Leases 6,580,861! 6.623.167

Alldwance for Loan and Lease Losses (90,998) (90,998)

Net Loans and,[.eases _ 6,489,863 6,532,169

Tota] Earning Assets 9.445.127 9.568.322
‘Cash and Noninterest-Bearing Deposits 368,402 398.342
Premises and Equipment 117,177 125,925
Customers” Acceptances 1,112 1,230
Accrued interest Recervable 45,261 49,284
Foreclosed Real Estate , 184 407
Mertgage Servicing Rights : 27,588 19,437
Goodwill 34,959 34,959
Other Assets 433,132 373,909
Totai Assets $ 10.472,942 $ 10,571,815
Liabilities
Deposits

.Noninterest-Bearing Demand . : $ 1,935,639 $§ 1,993,794

Interest-Bezring Demand 1,634,675 1.642.375

Savings 2,630,471 2,699,846

Time 1,741,587 1.696.379
Total Deposits 7,942,372 8.023,394
Funds Purchased 75.400 60,140
Short-Term Borrowings 10,427 11,058
Securities Sold Under Agreements to. Repurchase - 1,029,340 1,047,824
Long-Term Debt 235,37) 260.288
Banker's Acceptances 1.112 1.230
Retirement Benefits Payable 29.984 48,309
Accrued Interest Payable 20.476 22.718
Taxes Payable and Deferred Taxes 278,218 277,202
Other Liabilities 99,987 100.232
Total Liabilities 7 9,722,487 9.852.305
Commitments and Contingencies (Note 17) =
Shareholders’ Equity
Cominon Staci ($.01 par value: authorized 500. 000,000 shares:

issued . outstanding: December 2007 - 56,995,447 / 48,589,645

and December 2006 56,848,609 / 49,777,654) 367 566
Capital Surplus * 484.790 475,178
Accumulated Othe: Comprehensive Loss (5,091) (39,084)
Retained iarnings 688,638 630,600
Treasury Stock. at Cost (Shaves: Decemver 2007 - $408,802

and December 2006 - 7.070.953) (418.049) (347,900)
Total Shareholders’ Kquity 750.255 719,420



$ 10.472.942

Total Liabilities and Shareholders’ Equity $_10.571.815

The accompanying notes ate an integral part of che Consolidated Financial Statements
If complete audited accounts are required, contact BAnk of Hawaii — Nassau Branch
P.O. Box N-3242, Nassau, Bahamas.

Report of Independent Registered Public Accounting Firm

Board of Directors and Sharehoiders
Bank of Hawa Corporation ‘
We have audited the accompanying consolidated statements of condivon of Bank of Hawan Corporation and
subsidiaries as of JJecember 31, 2007 and 20G6, and the related consolidated statements of income, shareholders’
equity, and cash flows for each of the three years in the period ended December 31. 20:7. These financial
staiements are the responsibility of the Company's management. Oui responsibility 1s 10 express an opimion on
these financial statements based on our audits.

We conducted our audits im accordance with the standards of the Public Company Accounting Oversight Board
(United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes cxamining, on a test basis,
evidence supporting the amounts and disclosures im the financial statements. An audit also includes assessing the
accounting principles used and significant estimates macle by manayement, as well as evaluating the overall
financial statement presentation. We belicve that our audits provide a reasonabic basis for our opinion.

In our opinion, the financial statements referred to avove present fairly, in all material respects, the consolidated
financial position of Bank of Hawaii Corporation and subsidiaries at December 3'. 2007 and 2006. and the
consolidated results of their operations and their cash flows for each of the three years in the period ended
December 31. 2007, in conformity with U.S. generally accepted accounting principies.

As discussed in Note | to the consolidated financial statements. effective January i. 2007, the Company

changed its method of accounting for mortgage servicing rignts in’accordance with Statement of Financiai
Accounting Standards No. 156, Accounting for Servicing of Firandial Assets, an amendment of FASB Siatement
No. 140; changed its method of accounting for leveraged leases in accordance with Financial Accounung
Standards Board (“FASB”) Staff Position No. 13-2, Accounting jor a Change or Projected Change in the Timing
of Cash Flows Relating io Income Taxes Generated by a Leveraged lease Transaction. and changed its method
of accounting for tax positions in accordance with FASB Interpretauon No. 48. Accounting Jor Uncertainty in
Income Taxes, an interpreiation of FASE Staiemeni No. /09

We also have audited in accordance with the stanaards of the Public Company Accounung Oversight Board
(United States), Bank of Hawan Corporation and subsidiaries’ internal contro! over financiai reporting as of
December 3:, 2007, based on criteria established in Iniemnai Control-Integrated Framework issued by the

49

Committee of Sponsoring Organizations of the Treadway Commission and our report dated February 22, 2008
expressed an iznqualified opinion thercon.

s Erns! & Young LLP

Honolulu. Hawaii
February 27, 2008



PAGE 4B, TUESDAY, APRIL 15, 2008

THE TRIBUNE



a ren ee ES, ee eee ee ees
82% public school maths ‘illiteracy harms economy

FROM page 1B

Massey’s analysis showed that
46 per cent of public school stu-
dents earned ‘G’ and ‘U’ maths
grades in 2006. Both those
grades represent ‘functional illit-
eracy’ under the criteria used
by the Ministry of Education’s
testing unit.

Another 36 per cent of public
school students earned ‘E’ and
‘F’ grades in maths, Mr
Massey’s research showed.
Although it was unclear if these
two grades fell into the func-










this notice.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that |, URAL DENNIS MCKINZIE of
Prison Lane, Nassau, Bahamas, intend to change my name to
BENJAMIN JAMES GIBSON. If there are any objections to this
change of name by Deed Poll, you may write such objections to
the Chief Passport Officer, RO.Box N-742, Nassau, Bahamas
no later than thirty (0) days after the date of the publication of

tional illiteracy standards set by
the International Trends in
International Mathematics and
Science Study (TIMSS) report,
his report said that either way,
the negative effects for Bahami-
an society and the economy
were massive.

“In the seven public schools
on New Providence, up to 82
per cent may not meet the inter-
national standard for basic lit-
eracy in mathematics,” Mr
Massey wrote. “The conclusion
is: ‘Public schools do not meet
the minimum of any Basic
Numerical Literacy standard’.”



NOTICE

MIRAMAR PROPERTIES LIMITED

Pursuant to the Provisions of Section 138 (8) of the
International Business Companies Act 2000 notice
is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by the Registrar
General on the 1st day of April, 2008.

Lynden Maycock
Liquidator

of

MIRAMAR PROPERTIES LIMITED

Legal Notice

»

NOTICE

LOMOWO VALLEY INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on _ the
3rd day of March 2008. The Liquidator is Argosa
Corp. Inc., P. O. Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
- (Liquidator)

GET MORE FOR LESS

Leaders in food distribution for retail and club packs

are accepting applications for the position of:

BUTCHERS

The Job

We are looking for persons with excellent practical
skills in preparing, cutting and packaging chill &
frozen meat, poultry and seafood. Knowledge of Meat
Standard Operating Procedures and quality handling
and holding of different types of meat, the ability to
operate meat related machinery is a must. Candidates
should possess good customer friendly skills with the
ability to work with teams. Computer skills desirable.
A minimum of 3 years working experience is required.

We offer attractive salary and benefit packages.

Interested persons should send their

resumes to hr@abacomarkets.com



He further concluded: “The

Department of Education has
a literacy problem that is mas-
sive.”

He added that these statistics
showed the true nature and
extent of the educational crisis
confronting Prime Minister
Hubert Ingraham and his Cab-
inet, plus the entire country.

Meanwhile, while 18 per cent
of private school students who
sat the exam in 2006 obtained
‘A’ and ‘B’ grades, some 22 per
cent achieved ‘E’ and ‘F’ grades,
and another 2 per cent gained
‘G’ and ‘U’ grades.

As a result, Mr Massey said
this meant that 24 per cent of
private school candidates “may
not meet the international stan-
dard for basic literacy”.

Based on the 4,256 grades
obtained by all students, Mr

Massey said almost 28 per cent
were functionally illiterate in
maths, while the 32 per cent
who gained ‘E’s and ‘F’s could
be if they fell into the TIMSS
‘low performance’ standard.

If they did, “up to 59 per cent
[of all Bahamian students] may
not meet the international stan-
dard for ‘basic literacy’ in
maths, the sum of [grades] E,
F, G and U”.

As for the consequences for
Bahamian businesses and the
economy, Mr Massey spelt
these out graphically in his pub-
lic policy essay, entitled Educa-
tional Achievement in the
Bahamas, Too few ‘A’ and ‘Bs’,
too many ‘E’, ‘F’, ‘G’ and ‘U’s.

“A failure to confront the

cognitive skills shortage in the

Bahamas condemns it to an
excessive reliance on non-

Legal Notice
NOTICE

e amas Pi

eline Syste

NOTICE IS HEREBY GIVEN as follows:

Seafarer Bahamas Pipeline System, Ltd. is in
dissolution under the provisions of the
International Business Companies Act 2000.

The dissolution of the said Company commenced
on the 10th April 2008 when its Articles of
Dissolution were submitted to and registered by the

Registrar General.

The Liquidator of the said Company is Sandra G.
Lowe of 1001 Louisiana Street, Houston, Texas
77002, U.S.A. as sole Liquidator.

Dated the 14th day of April, 2008.

H & J Corporate Services Ltd.

Registered Agent
for the above-named Company



Legal Notice

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

HURSTBRIDGE 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),
HURSTBRIDGE LIMITED is in Dissolution.”

The date of commencement of dissolution is the 27th day of March,

2008.

David Jenner
of 9 Burrard Street,
St. Helier, Jersey JE4 5UE
Liquidator



Legal Notice

NOTICE

WHITE PEROBA VALLEY INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company isin dissolution, which commenced on the
8th day of February 2008. The Liquidatoris Argosa
Corp. Inc., P. O. Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

WANTED

Immediately, technical sales & service representative for
the sale and technical support of the following;

|.D. Card, x-ray, micrographic, document storage, imaging

equipment & supplies.

Person must be self-motivated, and be able to work
with minimum supervision also should poses technical and
computer support skills. Own transportation is necessary.

Apply in person (with a copy of resume)
at the leeco building, thompson blvd.
Next to water and sewage corp.

Between the hours of 9am and 3pm Mon-Fri.

Bahamian manpower to meet
its legitimate needs,” Mr
Massey wrote.

“This is likely to produce
both slower growth and social
and political conflict that can
be avoided or minimised with
sound policies and a national
will to do so.”

In other words, to grow and
continue in business, Bahami-
an companies and the whole
economy are likely to become
increasingly reliant on ever larg-
er quantities of expatriate
labour to fill positions and skills
that poorly-educated and qual-
ified Bahamians are unable to.

Otherwise, Bahamian busi-
nesses and the nation’s econo-
my are likely to become increas-
ingly uncompetitive, as poor
labour productivity contributes
to this country being seen as a
high-cost, inefficient economy
that drives investors elsewhere.

Yet in turn, this is likely to
cause social and political ten-
sions, as Bahamians come to
feel they,are becoming second-
class citizens, unable to access
and take advantage of wealth
and job opportunities in their
own-homeland.

“The overall low level of edu-
cational achievement should be
considered unacceptable by
Bahamian society, and the

* nation must confront this reali-

ty in its long-term interest,” Mr
Massey wrote. “The question
is: ‘Does it have the collective
will to do this?

“There is an urgency today
that is especially daunting
because of the environment
within which the Bahamas
exists.”

Mr Massey said this was the
global economy, in which tech-
nological developments and the
end to ‘protectionist’ trade bar-
riers - including those based on
distance, language, governments
and borders - were changing the
dynamics of work.

“Technological change
increases, in varying degrees,
the complexity and pace of vir-
tually all jobs at all skill levels,”

’ Mr Massey wrote, conceding

that the “educational malaise
of the Bahamas”, as evidenced
by the poor tests scores, was not
peculiar to this nation.
However, he warned that the
urgency with which the
Bahamas needed to reform its
education system was ever-

For the stories

TRUS
PES ES



increasing, given the emergence
of new powerhouse economies
in Asia, and especially China
and India.

Referring to a January 2007
report, published by the US-
based National Bureau of Eco-
nomic Research, Mr Massey
said the findings uncovered by
its authors when it came to the
economic impact of education-
al reform - based on a study of
70 countries - were especially
important for the Bahamas.

Education quality, and the
quality rather than quantity of
exam grades, were most impor-
tant, the study finding that real
returns on education reform -
as opposed to no change - could
be a 36 per cent gross domestic
product (GDP) increase in the
long-term.

An Organisation for Eco-
nomic Co-Operation and
Development (OECD) report
suggested that fully implement-
ing an education reform pack-
age could take 20-30 years,
depending on how aggressively
“the goals are pursued”, indi-
cating that the Bahamas needed
to start now.

Mr Massey said the average
BGCSE score had not changed
since 1993, when the current
grading system was adopted,
and added: “In the case of the
Bahamas, there is an array of
factors working against reform.

“These include the laws gov-
erning the employment of
teachers, the existing collective
bargaining contract, the inertia
of an established bureaucracy
and the apparent social judg-
ments that underpin social pro-
motion, that destroy respect and
discipline in the classroom and
that make the separation of
incorrigible students impossi-
ble.

“The economics of education
suggests that keeping students
in school when they fail to
acquire skills is a waste of scarce
national resources, a diversion
that does not add to the indi-
vidual and. collective human
capital of the nation.”

Mr Massey added: “The
Bahamas is considered by major
international agencies as a
developed country based on its
relatively high Gross. National
Product per capita. But it would
be classed as a developing coun-
try based on its levels of acade-
mic achievement if it partici-
pated in the recognised inter-
national academic testing sys-
tem. ‘

_ “There is solid scientific sup-
port for the statement ‘Educa-
tional quality - measured by
what people know - has a very
powerful and positive effect on
the economic welfare of the
country’. Failure to recognise
this means the country is not
likely to be aggressive enough
with their education reform pro-
gramme; and the country is not
likely to become.a truly ‘devel-

999

oped country’.

MORTON SALT

ROHM
[HAAS

Seeks a qualified candidate for the position of

PROJECT ENGINEER
At Its Great Inagua Plant

Responsibilities include (but are not limited to):

Plant Safety, Health, and Environmental responsibilities and
knowledge of Regulatory Compliance

Development and management of Capital Budgets and projects
Construction and Capital equipment installation, physical plant
maintenance, on equipment and machinery

Comprehensive knowledge of standard and specialized
engineering computer applications including, reliability, and

data streaming

Identification of source problems and opportunities for

improvement :

Successful candidate should possess:

¢ Effective communication skills for internal and external ©

customers

Proficient oral and written communication skills
Positive can-do attitude easily adapts to change and is a team

player

Uses good judgment, Demonstrates a high level of
professionalism and integrity, discretion and ethical behavior
A Degree in Engineering, Five years experience with reasonable

field experience

Morton Bahamas Limited offers excellent benefits and salary

Interested applicants may submit resumes and proof of

qualifications to

Morton Bahamas Limited, Human Resources Department,
P.O. Box MT-509,
Matthew Town, Inagua,
The Bahamas.
Or, to vmoultrie@mortonsalt.com

The Company will only contact candidates under consideration.
All applications will be held in strict confidences. The candidate
must be willing to relocate to Great Inagua.





THE TRIBUNE

TUESDAY, APRIL 15, 2008, PAGE 5B



Se SS ir
Airport needs ‘in excess

of $100m in BS financing

FROM page 1B

er labour costs “and everything that hap-
pens this side”.

“In excess of $100 million is going to be
required locally,” Mr Watson said, adding
that financial institutions possessing an off-
shore licence would also be eligible to par-
ticipate in the US$ financing tranche.

“T think there’ll be great opportunities
for local banks and investment groups to
participate,” Mr Watson added. “The local
banks are eager to get into the ring.

“We hope to have the funding pretty
much in place by June. It’s $400 million in
total that we’re looking at.”

The Airport Authority chairman |

explained that ideally the financing would

take the form of a rolling credit facility,
with NAD able to draw funds down when
needed “in stages, rather than getting the
entire $400 million in one bloc.

“It’s a question of structuring the arrange-
ment of the loan so that the airport can
bear it.”

Mr Watson said that “if all goes well”
construction on the airport redevelopment
would start “later this year”.

The Government and Airport Authority
have approved the plans, and Mr Watson
said he was likely to have a better idea on
the construction timelines “in about two
weeks”, as this was when the project man-
ager was likely to be appointed.

“The size of the building is agreed. It is a
matter of devising the interior and stuff like
that,” Mr Watson said.

“We will have a seamless building, and

the building where the US terminal now
is, will be incorporated into that and includ-
ed as the arrivals area for all passengers in
the new design.”

The Airport Authority chairman said the
financing had “not felt any pressure at this
point” from the global financial system’s
credit/liquidity crunch, with Citibank con-
fident it could raise the foreign currency
component of the loan.

In a reference to the overall economic
importance of the airport redevelopment,
given that it was perhaps the Bahamas’
most important infrastructure asset and
tourism gateway, Mr Watson said: “This is
critical to our tourism development.

“Right now, we have to really upgrade
and change the product we are offering,

and the airport will be central to leading us —

in that direction.”

Looking for an experienced

Fund Administrator

A small start-up Fund Administration company

is looking for a dynamic person who has a few years
experience in the Administration of Bahamas SMART
and Professional Funds. The ideal candidate would
also be assigned other related tasks. He/she must be
able to fit in a small young group of prfessionals and

is a motivated team-player.

Please send your resume with a salary expectation
. to HR Management,
P.O. Box N-7755, Nassau, Bahamas.



Rum Cay developer to start
Phase One work on July 1

FROM page 1B

The Sumner Point Marina 50-60.

currently had about 30 docking

NOTICE

NOTICE is hereby given that CELESTINE SHIDEL NAKIA
HEPBURN of 7TH ST., COCONUT GROVE, 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 15th day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that ILIONER CALIXTE of
RIDGELAND PARK -WEST, 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 senda written and signed statement
cof the: facts: within twenty-eight: days: from: the 15th day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.





NOTICE

NOTICE is hereby given that CATHLENE FENELUS
SENATUS of EXUMA ST. THE GROVE, P.O. Box
N-3331, 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 senda written and signed statement of the
facts within twenty-eight days from the 15th day of
April 2008 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.












BAHAMAS FIRST

FIRST IN INSURANCE. TODAY, TOMORROW.

Career opportunity for an ambitious career oriented
individual

Trainee Risk Surveyor

Role & Responsibilities:
- Survey Property Risks all over the Bahamas
- Make Loss Prevention recommendations

Qualifications:

- College Graduate with B.A. Degree in Engineering,
Architecture or Technical Drafting preferred

- Successful applicant must complete the surveying
qualifications in four years

- Experience useful but not essential

- On the job training will be provided

- Computer proficiency required .

- Strong communication and interpersonal skills required
- Must be able to work with minimal supervision

The Bahamas First Group is the largest property and casualty
insurance company in the Bahamas and has A- (Excellent)
Rating from A.M. Best, reflecting the company’s financial
stability and sound risk management practices. Compensation
commensurate with relevant experience and qualifications.

Please apply before April 23rd, 2008 to:
Group HR & Training Manager
Bahamas First Corporate Services
32 Collins Avenue
P.O. Box SS-6268
Nassau, Bahamas

Or email to:
careers@ bahamasfirst.com





slips, and Mr Farrant said Mon-
tana Holdings planned to
increase this number to about

The developer’s remaining







plans for Sumner Point Marina
included removing “some badly
placed groins” on the beach, as
they had been requested to by
government, to ensure the long-
shore transportation of sand.

In addition, Montana Hold-
ings planned to install a water
and wastewater treatment plant,
and prepare lots for 15 houses
on the beach side and 21 on the
marina side, making a total of
36 in all. ;

Mr Farrant said commitments
had been received on some of
the real estate at Sumner Point,
although no transactions had
been closed.

“We have every intention of
starting on July 1,” Mr Farrant
told The Tribune. “We’re quite
excited. Even in this economic
climate, you’ve got to ensure
your project is going forward.

“With the business plan we
have, hopefully will make prof-
its on that [Sumner Point], and
that will lead us nicely into the
development of the southern
side.”

He added that Montana
Holdings planned to meet with
the Government shortly to brief
it.on its plans to develop the
Rum Cay project.

Meanwhile, Mr Farrant said
the ‘scurrilous attacks’ that had
been mounted against Montana
Holdings and its Rum Cay
development, in a bid to
“severely impede” its progress,
had largely halted.

“A lot of those attacks have
stopped. Montana has hopeful-
ly seen a bygone day of people
trying to stop development
down there,” he said.

Mr Farrant had earlier this
year told The Tribune that
Internet-based attacks seeking
to undermine Montana Hold-
ings’ reputation,.coupled with
the “confusion” caused by a
rival hotel development for
Rum Cay bearing a similar
name, had affected the project’s
progress.

The net effect, he-explained
at the time, was that false claims
alleging things such as Montana
Holdings not having good title
to the 897-acre site had deterred
potential real estate buyers and
investors from becoming
involved with the Rum Cay pro-
ject.




S52wk-Low























14.25
8.00 6.00
0.54 0.20.

RND Holdings

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

Today's Close - Current day's





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

2 Abaco Markets 1.94 1.94 0.00 0.135 0.000 14.3 0.00%

11.50 Bahamas Property Fund 11.80 11.80 0.00 1.502 0.400 7.9 3.39%

9.00 Bank of Bahamas 9.61 9.61 0.00 0.643 0.160 14.9 2.71%

0.85 Benchmark 0.99 0.99 0.00 0.188 0.030 5.3 3.03%

2.30 Bahamas Waste 3.66 3.66 0.00 0.289 0.090 12.7 2.46%

1.30 Fidelity Bank 2.60 2.60 0.00 0.058 0.040 44.8 1.54%

10.41 Cable Bahamas 13.63 13.63 0.00 1.093 0.240 12.5 1.76%

2.10 Colina Holdings - 2.87 2.87 0.00 0.091 0.040 31.5 1.39%

4.75 Commonwealth Bank (S1) 7.22 7.22 0.00 0.428 0.270 16.9 3.74%

3.60 Consolidated Water BDRs 4.70 4.63 -0.07 0.157 0.052 30.0 1.10%

2.20 Doctor's Hospital 2.65 2.65 : 0.00 0.316 0.040 8.4 1.51%

5.94 Famguard 7.92 7.92 0.00 0.713 0.280 FF | 3.54%

13.01 12.49 Finco 12.92 12.92 0.00 0.810 0.570 16.0 4.41%
14.75 13.50 FirstCaribbean 13.50 13.50 0.00 0.914 0.470 14.8 3.48%
6.10 5.12 Focol (S) 5.50 5.12 -0.38 1,950 0.386 - 0.140 13.3 2.73%
1.00 0.54 Freeport Concrete 0.67 0.61 -0.06 2,500 0.035 0.000 17.4 0.00%
8.00 6.86 ICD Utilities 6.86 6.86 0.00 0.411 0.300 16.7 4.37%
12.50 8.60 J. S. Johnson 12.30 12.30 0.00 1.059 0.620 11.6 5.04%

_.Premier Real Estate

: Symbol _
Bahamas Supermarkets
Caribbean Crossings (Pref) : 6.00 6.25 6.00 0.000 0.480 NM 7.80%




RND Holdings

41.00 41.00 ABDAB : 41.00 43.00
14.60 14.00 Bahamas Supermarkets 14.60 15.60 14.00 1.160 0.900 13.4 6.16%
0.55 0.40 0.45 0.55 0.45 -0.023 0.000 N/M 0.00%

52wk-Hi 52wk-Low Fund Name NAV YTD%

1.3081 1.2443 Colina Bond Fund 1.308126°*** 1.25% 5.61%

3.0008 2.6629 Colina MSI Preferred Fund 2.996573°*** -0.14% 13.11%

1.3847 1.2647 Colina Money Market Fund 1.386634°** 0.84% 3.89%

3.7969 3.1827 Fidelity Bahamas G & | Fund 3.7041%"** -2.52% 17.78%

12.1010 11.4992 Fidelity Prime Income Fund 12.1010°* 1.40% 5.72%

100.0000 100.0000 CFAL Global Bond Fund 100.00°* :

100.0000 100.0000 CFAL Global Equity Fund 100.00°*

1.0000 1.0000 CFAL High Grade Bond Fund OOF

10.5000 9.6346 Fidelity International Investment Fund 9.6346* -8.24% -8.24%
Market Terms NLAN. Key

Previous Close - Previous day's weighted price for daily volume
ted price for daily volume

2 month earnings

TO TRADE CALL: CFAL 242-502-7040 | FIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-

JOB OPPORTUNITY
for CONTAINER WELDER

Aggressive Bahamian Shipping Company is currently seeking a Container welder

Job Description
Repair and perform preventative maintenance on containerize equipment
including Containers, Chassis, Trailers and Forklifts
> Maintain maintenance history for all containerize equipment

Requirements

3 years or more of Welding, Mechanical ability and Fabrication Experience

) Formal technical certification a plus

> Ability to weld with MIG & Stick Welding

> Ability to lift up to.70 lbs

) Ability to use Forklift Equipment

) Able to stand for long periods of time

Able to frequently reach, bend, grasp, stoop, push and pull

) Ability & desire to work in a fast-paced, organized, positive
environment

) Excellent Troubleshooting Skills

Competitive Pay
Interested Person should send their resumes by mail to the following address on
before April 25, 2008
The Human Resources Manager

P.O.Box SS-6411

Nassau, Bahamas



Visit our website at www.cob.edu.bs Ronee 6)

REGISTRATION NOTICES

Registration for Fall ~ 2008.

The Office of The Registrar wishes to advise that Online
Registration for the Fall Semester for all current students is now
taking place. Please visit the College’s website at www.cob.edu.bs
for further Registration details.

Late Registration for Summer ~ 2008

Late Registration for the Summer Session will also be online and
will take place on Thursday, May 15th, and Friday, May 16th,
2008. Please visit the College’s website at www.cob.edu.bs for
further Registration details on Friday, May 2nd 2008.

y









EG CAPT ETS

TAL MARKE
BROKERAGE & ADVISORY SERVICES

D% -5.29





6
XBAHAMAS.COM FOR MORE DATA &

Previous Close Today's Close

10.00 10.00 aa 0.00
Fidelity Over-The-Counter Securities :
Bid S$ Ask $ Last Price P/E Yield
14.60 15.60 14.60 1.160 0.900 13.4 6.16%





















0.40 0.35 ‘ -0.023 0.000 N/M 0.00%

0.35
Colina Over-The-Counter Securities Z
41.00 4.450 2.750 9.0 6.70%

BISX Listed Mutual Funds

Last 12 Months DivS Yield%









* - 29 February 2008
++ - 31 December 2007
°°. 4 April 2008

ste 34 March 2008

YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity

Ask $ - Selling fi

Last Price - Last tr
Weekly Vol. - Trading volume of the prior week

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

N/M - Not Meaningful

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





J over-the-counter price




396-4000 | FOR MORE DATA & INFORMATION CALL 242-394-2503





PAGE 6B, TUESDAY, APRIL 15, 2008





RIGHT---HE
WANTS TO BE














2 5/GHZ...TM SORRY, -
HONEY. CAN YOU FORGIVE
LES WAR
a)

NO, ALAN, AtITT
SAD.

; a> |

‘IF YOU'D RATHER NOT
GO TO BLAZE'S PARTY, / A L/771



\

S=

<
=
eS STE oS



(IE YOU PREFER TO SPEAK TO AN
ACTUAL TECHNICIAN INSTEAD OF

i RECORDED ASSISTANCE, PLEASE
SAY ‘HUMAN ASSISTANCE“

YOU DION'T REALLY
EXPECT TO GET ANYWHERE
WITH THAT, DID YOU?!














, ©2008 by King Features Syndicate, Inc. World Rights reserved
AN
=





“ALL MY PRESCRIPTIONS

ALL MINE
ARE GENERIC

ARE GERIATRIC

(©.2008 by North Amerie Syndicate, ina. World rights reserved.

NONSEQUITUR

WN

DW Wks £508 “WedenWin ha “1sI0

WULCNOLOL-SEQUI TY;




TIGER S
THERE'S A REAL
FUNNY Noise IN







| CRYPTIC PUZZLE |

“%




ACROSS ‘DOWN
3. Choose to have a power cut? (5) 1 Aloopy girl with love (5)














8 — Official who may get 2 There are horses for them (7) ;
' nothing right? (5) 4 — Aquiet contradiction (4) 18
10 An American hairstyle to many (5) 5 See acomplaint as something ‘ = pee be
71 It was never worth much in tasteful (6) BBe
Southend (3) - Vf 6 — Goingup and down below
12 _ It’s clear the dicks need a bit : Teddington (5) 4
of luck (5) 7 Alittle part that came to nothing (5)
13 Wrongly taken by us to be a terrible 9 — Anybody can be one (3)
‘prude (7) 12 Maybe the real tough stuff (7)
15 Saves wrecked vessels (5) 14 One stepping up a bit in your
18 It’s blue or green, but roseate in the favour? (3) ;
middle (3) ‘16 P'msly about being $0 obsequious (5)
19 It’s loud, yet soft if cut by some 17 Having the bottle, takes shots (5)
decibels (6) 19 Incomprehensive terms, or badly,
21 Tortuous testers of canine . perhaps (7)
creatures (7) 20 Anareato back up a car during a
22 Punishes for some sparse returns (4) . face (5) ae
23 Howself-satisfied mugs can be! (4) 21 Beliterally correct for atime (5) ACROSS
24 Sort of car that crashed into the 23 Historic provider of food and some : Fellows (5)
gateway! (7) ; wine (7) : ee
26 That of one’s money? (6) 24 Name a canal centre in the general 10 oasian (5)
29 Little chap led astray (3) 4 direction of Panama (6) 11 Container (3)
31 The all-in total (5) 25 Wenote it’s quite tiny (3) 12 Sewer (5}
32 Gathered that Ed had the wrong 27‘ They canbe minced and served up as a B eet
angle (7) hot (5) N 5 witiekt (5)
34 The Italian takes time out 28 Former monarch farther back in 5 18 Metai (3):
regularly (5) , history (5) o. 19 Empty
35 Made a hole of unparalleled 30 Toothy girl? (5) > , (6)
ugliness (3) 32 With the cunning guile I’m missing, | Ww Hee
36 Female ways have a certain gloss (5) can only give a sticky clue (4) < 23 Darns (4)
37 fist the game for a house party? (5) 33 She’s good at turning up ut 24 Edited (7)
38 Twist acomposer (5) unruffled (3) 26 infertile (6)
aoe 7 o 29 Help (3)
1: oA : | = 31 Alloy (5)
: 4 i" = 32 Intestines (7)
. - +5. 34 Animal (5)
A OKEE Cap al 9 res ht 13, Treat 14, Iv-or-y = oy a ’ i ea
BALE Banat Geld Ropes 20 Ene Paebole AleasiZ Maas oe ora cae 6)

31, Pla-t-ce 32, Seems (seams) 35, Aid-E-d 36, Hasps Notion 23, Simian 25, Inflate 27, Gastric 30, Truant 31, Enrage

37, For go-od 39, Marine-R 41, (luf 32, Sheep 35, Ultra 36, Olive 37, Ottoman 39, Heathen 41, 37 Flo
443, ieeaesoes 44, Mode tor ea neven trey} Az, Peat Mince 42, Rules 43, Capricorn 44, Craters. ee
| DOWN: 1, Career 2, Dia-tribe 3, Making waves 4 Body clock 5, | DOWN: 1, Brutal 2, Ignorant 3, Impersonate 4, Intention 5, part (5)
‘ _ | Demands 6, Difference 7, Chub(by) 10, Sta-bloyHte 11, Forg-iv-e | Leg-pull 6, Sweatshirt 7, Here 10, Preach 11, Mammoth: 12, 38 Hidden
4 12, Te-as-ed 19, Presume 21, Settled 24, Money for jam 26, Cousin 19, Cuisine 21, Banquet 24, Take fo heart 26, Lancashire :
Rounding up 28, Closeness 29, Miss-i-ve(X) 30, Cla-mm-y 28, Infirmary 29, Taverna 30, Touchy 32, Saturate 33, Punish store (5)

32, Scrapped 33, Saddle 34, Sharply 38, Or-ator 40, Rose 34, Connect 38, Molars 40, Alas.

COMICS PAGE

THE TRIBUNE





TM MAKING SUSI
DERKINS A VALENTINE.




WO INIAIVE (POM







Susie,



NOW I'M PUTTING -
LACE AROUND IT. ;



"tt BP
Le a
a



“U5 I'M SUPPOSED TO KEEP You OCCUPIED
WHILE MoM AN’ DAD FINISH CLEANIN’ UP.”

The, Worst-Case Scenario

East dealer.

Both sides vulnerable.
‘ NORTH
@A7
9762
A10953
K94
WEST EAST
@Q862 10953
VA10854. ¥Q3
82 @K6
&I6 108753
SOUTH
@KI4
Â¥KI9
QI574
AQ2
The bidding:
East South West North
Pass 1 NT Pass 3 NT

Opening lead — five of hearts.

When you’re declarer and the
outcome seems promising but not
certain, you should try to picture the
ways the defenders’ cards might be

. divided that would put the contract in
jeopardy. Once you determine the
dangers that may exist, it is much
easier to combat them.

Take this case where West leads a
heart against three notrump and East
plays the quéen. Before deciding
whether to take the queen with the
king, you should review. the: entire
situation. —

YESTERDAY’S SOLUTION
agape agar agate
agent agnate anger
angry gantry gape

_ gaper garnet gate
gayer gean gear gent
gentry gnat gran grant

' grape grapy grate gray
‘great grey gyrate gyre
pagan page pageant
PAGEANTRY pager
pang parget prang
raga rage rang range
rangy tanager tang
tangy trepang yang

































2

4 Difficult (4)

5 Fundamental
(6)

6 Of sound (5)

7 ‘First perfor-
mance (5)

9 Thus (3)

12° Inhabitant {7)

14 Dull (3)

_19 Brave (7)
20 Snatches (5)
21 Nucleus (5)
23 Tranquillised
(7)
24 Capitulate (6)
25 Transgression (3)
27 Musketeer (5)
28 Word
puzzle (5)
30 Model (5)
32 Egyptian deity
(4)33
Decay (3)

TARGET

The first thing to ask yourself is,
“What can defeat me?” It is of course
obvious that if West has the king of
diamonds, you can make at least 11
tricks by winning the heart and fi-
nessing the queen of diamonds.

But if East has the king of dia-
monds, you could go down. This
would happen if West started with

five hearts headed by the A-10, in-

which case a heart return by East
would allow West to cash four heart
tricks.

Since the possibility of East’s
holding the diamond king and West’s
having started with five hearts is very
real, you should not play to the first
trick before considering whether
there is any way to c ercome that
distribution.

Careful thought idicates that
even this threat can be. defused.
Accordingly, you play the nine on
East’s queen at trick one. When he
returns a heart, you play the jack, not
caring one iota which ee has.
the diamond king or w
started with four hearts or five.

Whatever the case — assuming
West started with four or more hearts
— you are certain to score at least
nine tricks. Your refusal to take the
first trick until you have determined
what can defeat you allows you to
make a contract that might easily fail
with less cautious play.

HOW many words of
four letters or more can
you make from the
letters shown here? In
making a word, each
letter may be used once
only. Each must contain
the centre letter and
there ust be at least
one nine-letter word. No
plurals, or verb forms
ending in “s”, no words
with initial capitals and
no words with a hyphen
or apostrophe
permitted. The first
word of a phrase is
permitted (e.g. inkjet in
inkjet printer).

TODAY’S TARGET

Good 13; very good 19;
excellent 25 (or more).
Solution Monday.

'e

P ConNers v Maia Chiburdanidze,
Lippstadt 2000. P ConNers looks

like a misprint, but was actually 12
feet tall and an abbreviation of
Parallel Controlled Conspiracy
Number Search. For a brief period 7
5-7 years ago, some organisers
allowed computer programsinto °
normal tournaments. Humanity =;
soon abandoned the unequal
struggle as the machines scored an
abnormal number of victories and 3
high prizes. P ConNers won the




ether West *



J hete you. Dro
dead, P



TUESDAY,
APR 15

AQUARIUS - Jan 21/Feb 18

Now’s the time to take a good, hard
look at your finances, Aquarius. You
may want to scale back some of
those luxury items, then invest your
savings for the future.

PISCES — Feb 19/March 20
Feelings are running high this week,
which may result in an argument with
a close friend. While you both may
say some nasty things, remember the
importance of your friendship.

ARIES —- March 21/April 20 |
It will be. difficult to know what is
fact and what is fiction this week,
Aries, but one thing is for sure — it’s
time to slow down a bit at work. The
hectic pace is wearing you down.

TAURUS - April 21/May 21
While everyone around you is fussing
and fretting over minor concems, you
will be quietly doing what you have to
do this week, Taurus. Good for you.

’ GEMINI- May 22/June 21

Part’ of’ you wants to escape you

responsibilities, but rest of you knows:
this isn’t a good idea this, week. What

can you do? For siarters,,do the job

right the first time. Then, go play.

CANCER - June 22/July 22
There’s an old saying that knowledge .
is power, but secrets are more powerful
still, Cancer. Be true to your nature this

"|. week and don’t let on that you have in-

sider information about a family friend.
LEO - July 23/August 23

It’s usually paid off for you to trust
your lion’s instincts, Leo. However,
you’re not quite thinking straight
this week, so it may be a better idea
to avoid making any major decisions -
without more evidence... . .
VIRGO - Aug 24/Sept 22
You’re in demand this week, Virgo.
Everyone wants something, but they
may not be so willing to give some-
thing in return. No matter how
aggravating this gets for you, don’t
give in to your temper.

LIBRA - Sept 23/Oct 23
Don’t take everything you hear so
seriously this week, Libra. It will on!,
increase your fears. Have fun with

_ that special someone on Thursd: y.

SCORPIO - Oct 24/Nov 2.
Pretend your enemies don’t exist this.
week, Scorpio. You’re in a good
mood, so don’t let anything spoil it.
Instead, take a walk in the park or
visit a museum. Enjoy yourself.

SAGITTARIUS-— Nov 23/Dec 21

Romance has muddled your senses a bit
recently, but it’s important to take a look
at all the facts. That’s not to say that any-
thing is wrong — just watch your back.
People aren’t always what they seem.

CAPRICORN - Dec 22/Jai>20

This appears to be very busy week

for you, Capricorn. Delegate some

of the smaller tasks so that you can -
get on with the serious work. Don’t

forget to get some rest!

_ CHESS, by Leonard Barden !

Lippstadt tournament, and here the 7 fished

silicon star is White (to move) l
against a former world woman
champion. Chib expected 1 Rxc3
Rxa7 with a book draw where
White’s extra pawn is insufficient.
What did she miss?



LEONARD BARDEN

—

Chess 8593: 1 Rh8+! Kxh8 2 g6 with no defence to 3.

Rc8 mate.



THE TRIBUNE

El] ERNST & YOUNG

@ Chartered Accountants @ Phone: (242) 502-6000

One Montague Place Fax: (242) 502-6090
Third Floor www.ey.com

East Bay Street

P.O. Box N-3231

Nassau, Bahamas

Independent Auditors’ Report to the Shareholders of
FirstCaribbean International Bank (Bahamas) Limited

We have audited the accompanying consolidated balance sheet of FirstCaribbean International Bank
(Bahamas) Limited (the “Bank”) as at October 31, 2007 and a summary of significant accounting
policies and other explanatory notes.

The consolidated balance sheet of the Bank as at October 31, 2006, were audited by other auditors
whose report dated December 15, 2006, expressed an unqualified opinion. We also audited the
adjustments described in Note 25(i) that were applied to restate the 2006 consolidated balance sheet. In
our opinion, such adjustments are appropriate and have been properly applied.

Management’s Responsibility for the Consolidated Financia! Statements

Management is responsible for the preparation and fair presentation of the balance sheet in accordance
with International Financial Reporting Standards. This responsibility includes: designing,
implementing and maintaining internal contro! relevant to the preparation and fair presentation of a
balance sheet that is free from material misstatement, whether due to fraud or error; selecting and
applying appropriate accounting policies; and making accounting estimates that are reasonable in the
circumstances. '

Auditors’ Responsibility

Our responsibility is to express an opinion on the balance sheet based on our audit. We conducted our
audit in accordance with International Standards on Auditing. Those standards require that we comply
with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the
balance sheet is free from materia] misstatement.

An audit involves performing procedures to obtain evidence about the amounts and disclosures in the
balance sheet. The procedures selected depend on the auditors’ judgment, including the assessment of
the risks of material misstatement of the balance sheet, whether due to fraud or error, In making those
risk assessments, the. auditor considers internal control relevant to the entity’s preparation and fair
presentation of the balance sheet in order to design audit procedures that are appropriate for the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s
internal control. An audit also includes evaluating the appropriateness of accounting policies used and
the reasonableness of accounting estimates made by management, as well as evaluating the overall
presentation of the balance sheet.

"We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinion.

Opinion
In our opinion, the consolidated balance sheet presents fairly, in all material respects, the financial
position of the Bank as of October 31, Pat in accordance with International Financial Reporting

Standards.
Eunet +

A member firm of Ernst & Young Global Limited

April 14, 2008

FIRSTCARIBBEAN INTERNATIONAL BANK (BAHAMAS) LIMITED
CONSOLIDATED BALANCE SHEET

AS OF OCTOBER 31, 2007

(expressed in thousands of Bahamian dollars)

TUESDAY, APRIL 15, 2008, PAGE 7B

2.3 Change in accounting policies

The accounting policies adopted are consistent with those used in the previous financial year except as follows:

During the year, a review of the Bank's hedge accounting revealed that existing hedge documentation was not appropriate. Consequently, all
hedges existing as of that date were disqualified from having met the criteria for hedge accounting. The effect of this was that upon
disqualification, the hedges are treated as if the disqualification existed from inception of the hedges. On disallowance of the use of hedge
accounting, the fair values of the loans and the bonds were reversed and the bonds that were available-for-sale were marked to market through

equity.

This change has been applied retrospectively in accordance with LAS 39 Financial Instruments: Recognition and Measurement and consequently
the October 31, 2006 comparative balance sheet has been restated to reflect this change. The impact on the consolidated balance sheet as at
October 31, 2006 was to reduce total assets by $8,668. Reserves were increased by $474, and opening retained earnings increased by $830 (see
Note 25 (i)).

As of November 1, 2006, the bank changed its accounting policy on the recognition of all purchases and sales of financial assets at fair value
through profit or loss and available for sale that require delivery within the time frame established by regulation or market convention (‘regular
way” purchases and sales) from trade date (which is the date that the Bank commits to purchase or sell an asset) to settlement date (which is the
date that an asset is delivered to or by the Bank). This change has been applied retrospectively in accordance with IAS8 Accounting Policies,
Changes in Accounting Estimates and Errors and consequently the October 31, 2006 comparative balance sheet has been restated to reflect this
policy change (see Note 25 (ii)).

As of November 1, 2005, loan origination fees relating to loans that have a high probability of being drawn down, are to be deferred (together
with related direct costs) and recognized as an adjustment to the effective interest yield on the loan in accordance with IAS 18 Revenue. This
accounting treatment was not applied in the past as previous estimations indicated the adjustment to be immaterial. For the year ended October
31, 2006, management has estimated the impact using the last four year’s historical data along with certain key assumptions about the maturity
profile of the loan portfolio prior to 2004 and the level of fees booked prior to 2002.

2.4 Segment reporting

A business segment is a group of assets and operations engaged in providing products and services that are subject to risks and returns that are

different from those of other business segments. A geographical segment is engaged in providing products or services within a particular

economic environment that are subject to risks and returns that are different from those of segments operating in other economic environments.

Segments with a majority of revenue eamed from external customers, and whose revenue, results or assets are 10% or more of all the segments,
* are reported separately. .

2.5 Foreign currency translation
The consolidated balance sheet is presented in Bahamian dollars, which is the Bank’s functional and presentational currency.
Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency at rates prevailing at the balance

sheet date and non-monetary assets and liabilities are translated at historic rates. Translation differences on non-monetary items, such as equities
classified as available-for-sale financial assets, are included in the available-for-sale reserve in equity.

2.6 Financial instruments

Initial recognition and subsequent measurement

Date of recognition :

Purchase or sale of financial assets that require delivery of assets within the timeframe generally established by regulation or convention in the
marketplace are recognized on the Setilentent date, i.e. the date that an asset is delivered to or by the Bank. Derivatives are recognized on a
settlement date basis.

Initial recognition of financial instruments

The classification of financial instruments at initial recognition depends on the purpose for which the financial instruments were acquired and
their characteristics. All financial instruments are measured initially at their fair value plus, in the case of financial assets and financial liabilities
not at fair value through profit or loss, any directly attributable incremental cost of acquisition or issue.

The Bank classifies its financial assets into the following categories:

(i) Financial assets at fair value through profit or loss .
(ii) Loans and advances to customers

(iii) Held-to-maturity investments

(iv) Available-for-sale financial assets

@ Financial assets or financial liabilities designated at fair value through profit or loss
Financial assets and financial liabilities classified in this category are designated by management on initial recognition when the following
criteria are met:
* The designation eliminates or significantly reduces the inconsistent treatment that would otherwise arise from measuring the
assets or liabilities or recognizing
gains or losses on them on a different basis; or
* The assets and liabilities are part of a group of financial assets, financial liabilities or both which are managed and their ”
performance revaluated on a fair value basis, in accordance with a documented risk management or investment strategy; or
= The financial instrument contains an embedded derivative, unless the embedded derivative does not significantly modify the cash
flows or it is clear, with little or no analysis, that it would not be separately recorded. This category comprises financial assets
held for trading. A financial asset is classified in this category if acquired principally for the purpose of selling in the short term or
if so designated by management. Derivatives are also categorised as held for trading unless they are designated as hedges.

Financial assets and financial liabilities at fair value through profit or loss are recorded in the consolidated balance sheet at fair value. Included in
this classification are loans and advances to customers that are economically hedged by credit derivatives that do not qualify for hedge
accounting as well as structured notes that are managed on a fair value basis.

Financial assets or financial liabilities held for trading

These assets are recorded in the consolidated balance sheet at fair value. A financial asset is classified in this category if acquired principally for
the purpose of selling in the short-term or if so designated by management. Derivatives are also categorized as held for trading unless’they are
designated as hedges. E

Derivatives recorded at fair value through profit or loss

2007 2006 Derivatives include interest rate swaps and futures, credit default swaps, cross currency swaps, forward foreign exchange contracts and options
Notes $ - § on interest rates, foreign currencies and equities. Derivatives are recorded at fair value and carried as assets when their fair value is positive and
(Restated) as liabilities when their fair value is negative.
Derivatives embedded in other financial’ instruments, such as the conversion option in an acquired convertible bond, are treated as separate
ASSETS : 1 derivatives and recorded at fair value if their economic characteristics and risks are not closely related to those of the host contract, and the hose
Cash and balances with central bank 3 116,808 69,143 contract is not itself held for trading or designated at fair-v value through profit or loss. The embedded derivatives separated from the host are
Due from banks 4 152,626 297,817 carried at fair value in the trading portfolio. ,
Derivative financial instruments ; 5 36,713 1,983 /
Fi ial ts at fai lue thr fit \ 6 192.307 652.281 di) Loans and advances to customers
Inancial assets at lair value ‘ough protit or loss pS Loans and advances to customers are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market.
Other assets 7 32,662 39,611 They are not entered into with the intention of immediate or short-term resale and are not classified as ‘financial assets held for trading,
Investment securities 8 893,161 706,565 designated as ‘financial investment available-for-sale, or ‘financial assets designated at fair value through profit or loss’. After initial
Loans and advances to customers 9 2,415,975 2,425,951 measurement, loans and advances are measured at amortized cost, less allowance for impairment.
Rowor ae eae ‘ + oa aoen, (ii) Held-to-maturity investments
yi etirement benefit assets . . , se Held-to-maturity financial investments are those which carry fixed or determinable payments and have fixed maturities and which the Bank has
Seog peat " Goodwill i ae 12 187,747 . 187,747 ? the intention and ability to hold to maturity. After initial measurement, held-to-maturity financial investments are subsequently measured at
yea . ie hp 8 3 : : Sees : amortized cost using the effective interest rate method, less allowance for impairment. Amortized cost is calculated by taking into account any
Total assets . fs Ts, a dy 4,668,455 4,423,961 discount or premium on acquisition and fees that are an integral part of the effective interest rate. Similarly, the losses arising from impairment
“ye ryt ef ——— of such investments are recognized in the current period. ot
LIABILITIES : (iv) Available-for-sale financial investments
Customer deposits 13 3,661,406 3,503,903 Available-for-sale financial investments are those which are designated as such or do not qualify to be classified as designated as fair value
Derivative financial instruments 5 30,974 12,424 through profit or loss, held-to-maturity or loans and advances. They include equity instruments, investments in mutual funds and money market
ied Mabe d other debt instruments.
Debt securities in issue 14 20,620 - ae : :
Other borr owed funds 15 278,171 281,344 After initial measurement, available-for-sale investments are subsequently measured at fair value. Unrealized gains and losses are recognized
Other liabilities : 16 30,138 17,944 directly i in equity in the ‘available-for-sale reserve’. When the security is disposed of, the cumulative gain or loss previously recognized in equity
Retirement benefit obligations 11 3,81 4 1 1,608 is recognized in the current period. Where the Bank holds more than one investment in the same security they are deemed to be disposed of on a
first-in first-out basis.
: Total liabilities 4,025,123 __3,827,223 Financial assets are initially recognized at fair value plus transaction costs for all financial assets not carried at fair value through profit or loss.
7 Financial assets are derecognized when the rights to receive the cash flows from the financial assets have expired or where the Bank has
EQUITY transferred substantially all risks and rewards of ownership. When the Bank has transferred its rights to receive cash flows from an asset or has
Share capital and reserves ‘ 18 436,297 436,030 entered into a pass-through arrangement, and has neither transferred nor retained substantially all the risks and rewards of the asset nor
: * 207,035 160,708 transferred control of the asset, the asset is recognized to the extent of the Bank’s continuing involvement in the asset. Continuing involvement
Retained earnings TO that takes the form of a guarantee of the transferred asset i$ measured at the lower of the original carrying amount of the asset and the maximum
. amount of consideration the Bank could be required to Tepay.
Total equity __ 643,332 $96,738
. : Unquoted equity instruments for which fair values cannot be measured reliably are recognized at cost less impairment.
iabilities and equi 4,668,455 _ 4,423,961
Total liabilities aety _———— 2.7 Derecognition of financial assets and financial liabilities

@ Financial assets
A financial asset (or where applicable a part of a financial asset or part of a group of similar financial assets) i is derecognized where:
= The rights to receive cash flows from the asset have expired; or
= The Bank has transferred its rights to receive cash flows from the asset or has
: = — assumed an obligation to pay the received cash flows in full without material delay to a third party under a ‘pass-through
. wd arrangement; and

Approved by the Board of Directors on April 14, 2008 and signed on its behalf by:

kes

Michael Mansoor

Either (a) the Bank has transferred substantially all the risks and rewards of the asset, or (b) the bank has neither transferred nor
retained substantially all the risks and rewards of the asset, but has transferred control of the asset.



Sharon Brown When the Bank has transferred its right to receive cash flows from an asset or has entered into a pass-trough arrangement, and has neither

Chairman Managing Director transferred nor retained substantially all the risks and rewards of the asset, nor transferred control of the asset, the asset is recognized to the
extent of the Bank's continuing involvement in the asset. Continuing involvement that takes the form of a guarantee over the transferred asset is

: measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Bank could be required to

See accompanying notes. pay.

See Auditors’ Report.

When continuing involvement takes the form of a written and/or purchased option (including a cash-settled option or similar provision) on the
transferred asset, the extent of the Bank’s continuing involvement is the amount of the transferred asset that the Bank may repurchase, except
that in the case of a written put option (including a cash-settled option or similar provision) on an asset measured at fair value, the extent of the

FIRSTCARIBBEAN INTERNATIONAL BANK (BAHAMAS) LIMITED Bank’s s continuing involvement is limited to the lower of the fair value of the transferred asset and the option exercise price.

NOTES TO CONSOLIDATED BALANCE SHEET ' ii) “Financial liabilities
October 31, 2007 : A financial liability is derecognized when the obligation under the liability is discharged, cancelled or expires. Where an existing financial

(Expressed in thousands of Bahamian dollars) liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially
modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability.

1. General information

: 2.8 Repurchase and reverse repurchase agreements
FirstCaribbean International Bank (Bahamas) Limited (“The Bank”) was formerly named CIBC Bahamas Limited (“CIBC Bahamas”) and was
controlled by Canadian Imperial Bank of Commerce (CIBC) a company incorporated in Canada. The Bank changed its name to FirstCaribbean Securities sold under agreements to repurchase at a specified future date (‘repos’) are not derecognized from the consolidated balance sheet. The
International Bank (Bahamas) Limited on October 11, 2002, following the combination of the retail, corporate and offshore banking operations of corresponding cash received, including accrued interest, is recognized on the balance sheet as a ‘Cash collateral on securities lent and repurchase
Barclays Bank PLC in The Bahamas and the Turks & Caicos Islands (“Barclays Bahamas”) and CIBC Bahamas. agreements’, reflecting its economic substance as a loan to the Bank and are reflected in other borrowed funds (sce Note 15). The difference
, i es : : : 5 . n sree between the sale and repurchase prices is treated as interest expense and is accrued over the life of the agreement using the effective interest rate
The Bank is a subsidiary of FirstCaribbean Intemational Bank Limited, formerly CIBC West Indies Holdings Limited (the “Parent” or “FCIB"), a method. Where the transferee has the right to sell or pledge the asset, the asset is recorded on the balance sheet as ‘Financial assets held for
company incorporated in Barbados. The Parent is owned by CIBC. From October 11, 2002, the major shareholders of FirstCaribbean International trading pledged as collateral’.
Bank (Bahamas) Limited were jointly CIBC and Barclays Bank PLC, (“Barclays”), a company incorporated in England. On December 22, 2006, CIBC
acquired Barclays’s interest in the Bank and now owns 91.4% of the shares of FirstCaribbean Intemational Bank Limited. Conversely, securities purchased under agreements to resell at a specified future date (‘reverse repos’) are not recognized on the balance sheet.
7 4 é * ‘ ; . The corresponding cash paid, including accrued interest, is recognized on the balance sheet as a ‘Cash collateral on securities borrowed and
The registered office of the Bank is located at the FirstCaribbean Financial Centre, 2nd Floor, Shirley Street, Nassau, aed Teverse beifthate caieuienls and are reflected in loans and advances to customers (see Note 9). The difference between the purchase and
Summary of significant accounting policies resale prices is treated as interest income and is accrued over the life of the agreement using the effective interest rate method.
The principal accounting policies applied in the preparation of the consolidated balance sheet are set out below. 29 Impairment of financial assets
2.1 Basis of presentation The Bank assesses at each balance sheet date whether there is objective evidence that a financial asset or group of financial assets is impaired. A
The consolidated balance sheet has been prepared o on a historical cost basis, except for available-for-sale investments, derivative financial financial asset or a group of financial assets is deemed to be impaired and impairment losses are incurred if, and only if there is objective
instruments and financial assets and financial liabilities held at fair value through profit or loss, that have been measured at fair value. The evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a loss event ) and that loss event
carrying values of recognized assets and liabilities that are hedged items in fair value hedges, and otherwise carried at cost, are adjusted to record (or events) has an impact on the future cash flows of the financial asset or group of financial assets that can be reliably estimated. Objective
changes in fair value attributable to the risks that are being hedged. The consolidated balance sheet is presented in Bahamian dollars, and all evidence that a financial asset or group of financial assets is impaired includes observable data that comes to the attention of the Bank about the
values are rounded to the nearest thousand dollars, except when otherwise indicated. following loss events: °
Statement of compliance i) significant financial difficulty of the issuer or obligor;
ii) a breach of contract, such as a default or delinquency in interest or principal payments;
The consolidated balance sheet of the Bank has been prepared in accordance with Intemational Financial Reporting Standards (IFRS). iii) the Bank granting toa borrower, for economic or legal reasons relating to the borrower’s financial difficulty, a concession that the lender
would not otherwise consider;
Basis of consolidation iv) it becoming probable that the borrower will enter bankruptcy or other financial reorganisation;
Subsidiary undertakings, which are those companies in which the Bank directly or indirectly has an interest of more than one half of the voting v) _ the disappearance of an active market for that financial asset because of financial difficulties; or ; é
rights or otherwise has power to exercise control over the operations, have been fully consolidated. The principal subsidiary undertakings are vi) observable data indicating that there is a measurable decrease in the estimated future cash flows from a group of financial assets since the
disclosed in Note 27. Subsidiaries are consolidated from the date on which the effective control is transferred to the Bank. They are de- initial recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in the group, including:
consolidated from the date that control ceases. - adverse changes in the payment status of borrowers in the group; or
- national or local economic conditions that correlate with default on the assets in the group.
All inter-company balances have been eliminated. Where necessary, the accounting policies used by subsidiaries have been changed to ensure
consistency with the policies adopted by the Bank. If there is objective evidence that an impairment loss on loans and advances to customers or held-to-maturity investments carried at amortized
cost has been incurred, the amount of the loss is measured as the difference between the carrying amount and the recoverable amount, being the
The purchase method of accounting is used to account for the acquisition of subsidiaries by the Bank. The cost of an acquisition is measured as estimated present value of expected cash flows, including amounts recoverable from guarantees and collateral, discounted based on the current
the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of the exchange, plus costs directly effective interest rate.
attributable to the acquisition. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are
measured initially at their fair values at the date of acquisition, irrespective of the extent of any minority interest. The excess of the cost of When a loan is uncollectible, it is written off against the related provision for impairment; subsequent recoveries are credited to the provision for
acquisition over the fair value of the Bank’s share of the identifiable net assets acquired is recorded as goodwill. If the cost of the acquisition is impairment losses. If the amount of the impairment subsequently decreases due to an event occurring after the write-down, the release of the
less than the fair value of the net assets of the subsidiary acquired, the difference is recognized immediately in the current period. provision is credited to the provision for loan loss impairment in the current period.
Bio, -Significant accounting jndgments and estimates ; In circumstances where central bank guidelines and regulatory rules require provisions in excess of those calculated under IFRS, the difference is
In the process of applying the Bank's accounting policies, management has used its judgments and made estimates in determining the amounts accounted for as an appropriation of retained earings and is included in a non-distributable general banking reserve.
recognized in So consolidated balance sheet. The most significant use of judgments and estimates are as follows: 2.10 Impairment of non-financial assets
Impairment losses on loans and advances , . 5 thea? .
The Bank reviews its loan portfolios to assess impairment at least on a quarterly basis. In determining Whether an impairment loss should be rhs Bank pssesses 2 cach Teporling date or_more frequently af events oF changes ny CITCUMSIANCES indicate. that the carrying value may be
recorded, the Bank makes judgements as to whether there is any objective evidence indicating that there is a measurable decrease in the impaired, whether there is an indication that a non-financial asset may be impaired. If any such indication exists, or when annual impairment
estimated future cash flows from a portfolio of loans before the decrease can be identified with an individual loan in that portfolio. This testing for an asset is required, the Bank makes an estimate of the asset's recoverable amount. Where the carrying amount of an asset (or cash-
evidence may include observable data indicating that there has been an adverse change in the payment status of borrowers in a group, or national generating unit) exceeds its recoverable amount, the asset (or cash-generating unit) is considered impaired and is written down to its recoverable
or local economic conditions that correlate with defaults on assets in the group. Management uses estimates based on historical loss experience amount. ,
for assets with credit risk characteristics and objective evidence of impairment similar to those in the portfolio when scheduling its future cash
flows. The methodology and assumptions used for estimating both the amount and timing of future cash flows are reviewed regularly to reduce For assets, excluding goodwill, an assessment is made at each reporting date as to whether there is any indication that previously recognized
any differences between loss estimates and actual loss experience. ; impairment losses may no longer exist or may have decreased. If such indication exists, the recoverable amount is estimated. A previously
recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since
Retirement benefit obligations the last impairment loss was recognized. If that is the case, the carrying amount of the asset is increased to its recoverable amount. Impairment
Accounting for some retirement benefit obligations requires the use of actuarial techniques to make a reliable estimate of the amount of benefit losses relating to Goodwill cannot be reversed for subsequent increases in its recoverable amount in future periods.
that employees have earned in retum for their service in the current and prior periods. These actuarial assumptions are based on managements’
best estimates of the variables that will determine the ultimate cost of providing post-employment benefits and comprise both demographic and 2.411 Offsetting financial instruments

financial assumptions. Variations in the financial assumptions can cause material adjustments in the next financial year if it is determined that
the actual experience differed from the estimate.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the
recognized amounts and there is an intention to settle on a net basis, or realize the asset and settle the liability simultaneously.



PAGE 8B, TUESDAY, APRIL 15, 2008

2.12

2.13

2.14

2.15

2.16

217

2.18

2.19

2.20

2.21

2.22



Derivative financial instruments and hedge accounting

The Bank makes use of derivative instruments to manage exposure to interest rate, foreign currency and credit risks, including exposures arising
from forecast transactions. In order to manage particular risks, the Bank applies hedge accounting for transactions that meet the specified criteria.

The Bank’s criteria for a derivative instrument to be accounted for as a hedge include:

i) At inception of the hedge relationship, the Bank formally documents the relationship between the hedged item and the hedging
instrument, including the nature of the risk, the objective and strategy for undertaking the hedge and the method that will be used to
assess the effectiveness of the hedging relationship

ii) Also at the inception of the hedge relationship, a formal assessment is undertaken to ensure the hedging instrument is expected to be
highly effective in offsetting the designated risk in the hedged item. Hedges are formally assessed cach quarter. A hedge is regarded
as highly effective if the changes in fair value or cash flows attributable to the hedged risk during the period for which the hedge is
designated are expected to offset in a range of 80% to 125%. For situations where that hedged item is a forecast transaction, the Bank
assesses whether the transaction is highly probable and presents an exposure to variations in cash flows that could ultimately affect
the current year's operations. The hedge is expected to be highly effective in offsetting the risk in the hedged item throughout the
reporting period; and;

iii) The hedge is highly effective on an ongoing basis.

Derivatives are initially recognized in the balance sheet at their fair value based on settlement date. Fair values are obtained from discounted
cash flow models, using quoted market interest rates. All derivatives are carried as assets when fair value is positive and as liabilities when fair

value is negative.

The method of recognizing the resulting fair value gain or loss depends on whether the derivative is designated as a hedging instrument, and if
so, the nature of the item being hedged. The Bank designates certain derivatives as either: (1) hedges of the fair value of recognized assets or
liabilities (fair value hedge); or (2) hedges of highly probable cash flows attributable to a recognized asset or liability (cash flow hedge). Hedge
accounting is used for derivatives designated in this way provided certain criteria are met.

(1) Fair value hedges 7
Changes in the fair value of derivatives that are designated and qualify as fair value hedges and that prove to be highly effective in relation
to hedged risk, are recorded in the current period, along with the corresponding change in fair value of the hedged asset or liability that is
attributable to that specific hedged risk.

If the hedging instrument expires or is sold, terminated or exercised, or where the hedge no longer meets the criteria for hedge accounting,
the hedge relationship is terminated.

For hedged items recorded at amortized cost, using the effective interest rate method, the difference between the carrying value of the
hedged item on termination and the face value is amortized over the remaining term of the original hedge. If the hedged item is
derecognized, the unamortized fair value adjustment is recognized. , .

(2) Cash flow hedges
The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges are recognized in
equity in the revaluation reserve—cash flow hedges. The gain or loss relating to the ineffective portion is recognized immediately.

Amounts accumulated in equity are recorded in the period in which the hedged item will affect current year operations (for example, when
the forecast sale that is hedged takes place).

When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any cumulative gain or
loss existing in equity at that time remains in equity and is recognized when the forecast transaction is ultimately recognized. When a
forecast transaction is no longer expected to occur, the cumulative gain or loss that was reported in equity is immediately recognized.

Goodwill

Goodwill represents the excess of the cost of an acquisition over the fair value of the net identifiable assets of the acquired subsidiary
undertaking at the date of acquisition and is reported in the balance sheet as an intangible asset. Goodwill is tested annually for impairment and
carried at cost less accumulated impairment losses. Goodwill is allocated to lowest levels for which there are separately identifiable cash flows
(cash-generating units) for the purpose of impairment testing. An impairment loss is recognized for the amount by which the asset’s carrying
value exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use.

Property and equipment

Land and buildings comprise mainly branches and offices. All property ‘and equipment are stated at historical cost less accumulated
depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Changes in the expected useful life
are accounted for by changing the amortization period or method, as appropriate, and treated as changes in accounting estimates.

Subsequent costs are included in the asset’s carrying amount or are recognized as a separate asset, as appropriate, only when it is probable that
future economic benefits associated with the item will flow to the Bank and the cost of the item can be measured reliably. All other repairs and
maintenance are recognized during the financial period in which they are incurred.

Land is not depreciated. Depreciation on other assets is computed ising the straight-line method at rates considered adequate to write-off the
cost of depreciable assets, less salvage, over their useful lives. ;

The annual rates used are:

- Buildings : 24% *

- Leasehold improvements 10% or shorter life of the lease
- Equipment, furniture and vehicles 20-50%

Assets that are subject to depreciation are reviewed for impairmg@ whenever events or changes in circumstances indicate that the carrying
amount may not be recoverable. Where the carrying amount of af asset is greater than its estimated recoverable amount, it is written down
immediately to its recoverable amount. The asset’s recoverable amount is the higher of the asset’s fair value less costs to sell and the value in
use. Gains and losses on disposals are determined by comparing proceeds with carrying amounts and are recognized in the current period.

Leases
Operating lease payments are recognised as an expense on a straight-line basis over the lease term.
Provisions

Provisions are recognized when the Bank has a present legal or constructive obligation as a result of past events, it is more'than likely that an
outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate of the amount of the
obligation can be made.

Retirement benefit obligations

i) Pension obligations
The Bank operates a pension plan, the assets of which are held in a separate trustee-administered find. The pension plan is funded by
payments from employees and the Bank, taking account of the recommendations of independent qualified actuaries. The plan has
defined benefit sections and a defined contribution section.

A defined benefit plan is a pension plan that defines an amount of pension benefit to be provided, usually as a function of one or more
factors such as age, years of service or compensation. A defined contribution plan is a pension plan under which the Bank pays fixed
contributions into a separate entity (a fund) and will have no legal or constructive obligations to pay further contributions if the fund does
not hold sufficient assets to pay all employee benefits relating to employee service in the current and prior periods.

The liability recognized in the balance sheet in respect of defined benefit sections of the plan is the present value of the defined: benefit
obligation at the balance-sheet date minus the fair value of plan assets, together with adjustments for unrecognized actuarial gains/losses
and past service costs. The defined benefit obligation is calculated periodically by independent actuaries using the projected unit credit
method. The present value of the defined benefit obligation is determined by the estimated future cash outflows using, interest ‘rates of
government securities that have terms to-maturity approximating the terms of the related liability. The pension plan is a final salary plan
and the charge for such pension plan, representing the net periodic pension cost less employee contributions is included in staff costs.

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are recognized over the expected
average service lives of the related employees. Past service costs are recognized immediately, unless the changes to the pension plan are
conditional on the employees remaining in service fora specified period of time (the vesting Period). In this case, past service costs are
amortized on a straight-line basis over the vesting period.

For the defined contribution section of the plan, the Bank makes contributions to a private trustee-administered fund. Once the
contributions have been paid, the Bank has'no further payment obligations. The regular contributions constitute net periodic costs for the
year in which they are due and as such are recognized in the current period. The Bank's contributions in respect of the defined
contribution section of the plan are recognized in the year to which they relate.

(ii) Other post retirement obligations
The Bank provides post-retirement healthcare benefits to its retirees, The entitlement to these benefits is usually based on the employee
remaining in service up to retirement age and the completion of a minimum service period. The expected costs of these benefits are
accrued over the period of employment, using a methodology similar to that for defined benefit pension plans. Actuarial gains and losses
arising|from experiertce adjustments and changes in actuarial assumptions are recognized over the expected average service lives of the
related employees. These obligations are valued periodically by independent qualified actuaries.

Borrowings

Borrowings are recognized initially at fair value and are subsequently stated at amortized cost, and any difference between net proceeds and the
redemption value is recognized over the period of the borrowings, usi&ig the effective interest yield method.

Share capital and dividends

@ Share issue costs
Shares issued for cash are accounted for at the issue price less any transaction costs associated with the issue. Shares issued as
consideration for the purchase of assets, or a business, are recorded at the market price on the date of the issue.”

(ii) Dividends on ordinary shares
Dividends on ordinary shares are recognized in equity in the period in which they are declared. Accordingly, dividends in respect of the
current year’s operations that are declared after the balance sheet are not reflected in the consolidated balance sheet.

Fiduciary activities

The Bank commonly acts as trustee and in other fiduciary capacities that result in the holding or placing of assets on behalf of individuals, trusts,
retirement benefit plans and other institutions. These assets arising thereon are excluded from this consolidated balance sheet, as they are not
assets of the Bank.

Income taxes
The Bank is not subject to income taxes in The Bahamas and the Turks and Caicos Islands.
Future changes in accounting policies

New standards, interpretations and amendments to published standards relevant to the Bank that are not yet effective
Certain new standards, interpretations and amendments to existing standards have been published that are mandatory for the Bank’s accounting
periods beginning on or after November 1, 2007 or later periods but which the’Bank has not early adopted, as follows:

« IAS 1, (Revised) Presentation of Financial Statements (effective from annual periods beginning on or after January 1, 2009). IAS 1
(Revised) will require the disclosure of all non-owner changes in equity either in one statement of comprehensive income or in two statements (a
separate consolidated statement of income and a statement of comprehensive income), will require additional disclosures about an entity’s
capital and will change the titles of financial statements.

* IAS 23 (Revised), Borrowing Costs (effective from annual periods beginning on or after January 1, 2009). IAS 23 will remove the option of
immediately recognising as an expense borrowing costs that relate to assets that take a substantial period of time to get ready for use or sale. An
entity will therefore now be required to capitalise borrowing costs as part of the'cost of such assets. The capitalisation of borrowing costs
relating to assets measured at fair value is not however required by IAS 23. :

¢ IFRS 7, Financial Instruments: Disclosures, and a complementary amendment to IAS 1, Presentation of Financial Statements — Capital
Disclosures (effective from annual periods beginning on or after January 1, 2007). IFRS 7 introduces new disclosures to improve the
information about financial instruments. It requires the disclosure of qualitative and quantitative information about exposure to risk arising from
financial instruments, including specified minimum disclosures about credit risk, liquidity risk and market risk, including sensitivity analysis to
market risk. It replaces IAS 30, Disclosures in the Financial Statements of Banks and Similar Financial Institutions, and disclosure requirements
in IAS 32, Financial Instruments: Disclosure and Presentation. It is applicable to all entities that report under IFRS. The amendment to IAS 1
introduces disclosures about the level of an entity’s capital and how it manages capital. The Bank assessed the impact of IFRS 7 and the
amendment to IAS 1 and concluded that the main additional disclosures will be Sensitivity analysis to market risk and the capital disclosures
required by the amendment to IAS 1.

* IFRS 8, Operating Segments (effective from annual periods beginning on or after January 1, 2009). IFRS 8 will replace IAS 14 Segments
Reporting and increases the level of disclosure required and extends the scope to include entities that: meet certain requirements.

¢ IFRIC 11, IFRS 2: Group and Treasury Share Transactions (effective from annual periods beginning on or after March 1, 2007). IFRIC 11
will provide guidance on applying IFRS 2 in three circumstances.

¢ IFRIC 12, Service Concession Arrangements (effective from annual periods beginning on or after January 1, 2008). IFRIC 12 gives
guidance on the accounting by operators for public-to-private service concession arrangement, and sets out general principles on recognizing and
measuring the obligations and related rights in such arrangements.

* IFRIC 13, Customer Loyalty Programmes (effective from annual periods beginning on or after July 1, 2008). IFRIC 13 specifically seeks
to explain how entities should account for their obligations to provide free or discounted goods and services (‘awards’) to customers who redeem
award credits.

¢ — IFRIC 14, The Limit on a defined Benefit Asset, Minimum Funding Requirements and ¢heir Interaction (effective from annual periods
beginning on or after January 1, 2008). IFRIC 14 addresses the inggpction between minimum funding requirements and the limit placed by
paragraph 58 of IAS 19 on the measurement of the defined benefit asSet or liability.

The Bank does not anticipate any material impact on the results of its operations from the implementation of these new standards when they

become effective. Additional disclosures related to the Bank’s management of risks and its capital will be required to comply with IFRS7 and
TAS | in 2008. ,

3. Cash and balances with central bank

2007 2006
$ $
Cash - 34,472 24,543
Deposits with The Central Bank - non-interest bearing 82,336 44,600
Cash and balances with central bank 116,808 69,143
Less: Mandatory reserve deposits with The Central Bank (53,269) (43,209)
Included in cash and cash equivalents as per below 63,539 25,934

Mandatory reserve deposits with The Central Bank of The Bahamas (The Central Bank) represent the Bank’s regulatory requirement to maint:
percentage of deposit liabilities as cash or deposits with The Central Bank. These funds are not available to finance the Bank's day-to-day operat

and, as such, are excluded from cash resources to arrive at cash and cash equivalents.









9.

10.

THE TRIBUNE

Cash and balances with The Central Bank are non-interest bearing.

Cash and cash equivalents

2007 2006
$ $

Cash and balances with The.Central Bank as per above 7 63,539 25,934 ,
Due from banks, included in cash and cash equivalents (Note 4) 142,606 154,150
A 206,145 180,084

Due from banks

2007 2006
$ $
(Restated)
Due from banks 151,796 295,514
Add: Accrued interest receivable 830 2,303
152,626 297,817

Due from banks comprises deposit placements and include amounts placed with other FirstCaribbean Bank entities of $ nil (2006 - $86) and deposi
placements with CIBC and Barclays entities of $217,008 (2006 - $230,778). The effective yield on deposit placements during the year was 4.6% (200¢
~ 3.3%).

Derivative financial instruments

The notional and fair value amounts under these contracts at October 31 are shown below:

Fair Values

Contract
/Notional
Amount Assets Liabilities
s $ $
October 31, 2007
Interest rate swaps 354,578 33,223 (28,812)
Currency forwards 102,276 3,490 -
Short sales 321,585 : (2,162)
36,713 (30,974)
October 31, 2006
Interest rate swaps : 654,154 1,983 (12,414)
Currency forwards : 102,276 : (0)

1,983 (12,424)

Currency forwards represent commitments to purchase foreign currency including undelivered spot transactions. The counterparty is Canadia:
Imperial Bank of Commerce-Toronto.

Financial assets at fair value through profit or loss



2007 2006
$ $
(Restated)
Financial assets held for trading
Government bonds - 495
Corporate bonds ; 14,904 241,556
Asset-backed securities 380,667 404,132
Other securities — investment fund : 394,902 -
790,473 646,183
Add: Interest receivable 1,834 6,098
Total Financial assets held for trading 792,307 652,281

The effective yield on the financial assets held for trading during the year was 3.5% (2006 — 5.7%).

Other assets

2007 2006
$ $
(Restated)

Branch clearings 13,593 10,726

Suspense accounts 2,070 (1,999)

Other accounts receivable, including clearings ‘ 16,056 26,731
Prepayments and deferred items 943 1,153

Due from related party : 3,000

32,662 39,611

The amount due from related party at October 31, 2006 was due on demand from Barclays Bank PLC and is interest-free.

Investment securities
2007 2006
$ $
Loans and advances to customers Restated)
Issued or guaranteed by Governments
— Debt securities - 156,898
: Available-for-sale securities
Government bonds 475,208 402,850
Corporate bonds 404,552 133,363
Total available-for-sale securities 879,760 536,213
879,760 693,111
Add: Interest receivable . 13,401 13,454
Total investment securities 893,161 706,565

Debt securities issued or guaranteed by the Government of The Bahamas amounted to $132,574 (2006 - $136,700). Government bonds ‘include U
Treasury Notes of $271,837, all of which have been pledged in support of the repurchase agreements described in Note 15. The effective yield durin
the year on investment securities was 6.4% (2006 — 6.2%).

The movement in investment securities may be sammarised as follows: ,
Loans and Available

advances -for-sale Total
$ $ $
Balance, beginning of year 2006 ‘ 158,523 7,500 166,023
Additions 9,350 533,774 543,124
Disposals — sale and redemption ‘ (10,975) (4,982) (15,957)
Loss from changes in fair value (79) (79
Balance, end of year 2006 156,898 536,213 693,111
Transfer between classifications (156,898) 156,898 -
Additions . 426,680 426,680
Disposals — sale and redemption - (236,453) (236,453)
Loss from changes in fair value (Note 18) (6,767) (6,767)
Gain from change in unamortized premium : 3,189 3,189
Balance, end of year 2007 - 879,760 879,760
Loans and advances to customers
2007 2006
$ $
(Restated)
Mortgages 1,105,365 1,025,949
Personal loans ; 322,286 333,866
Business loans 991,025 1,064,612
Government securities purchased under ,
- resale agreements 46,220 52,185
2,464,896 2,476,612
Add: Interest receivable 12,578 16,035
Less: Loan fee deferrals (19,760) (19,456)
Less: Provisions for impairment
- Specific provisions for credit risk (36,177) (39,680)
- General provisions for inherent risk (5,562) (7,560)
2,415,975 2,425,951

ee _

Movement in provisions for impairment is as follows:

Specific credit risk Inherent risk
provision provision
$ $s
Balance, October 31, 2005 (36,640) (6,377)
Doubtful debt expense (4,141)
Net movement in inherent risk provisions - (1,183)
Recoveries of bad and doubtful debts (1,344) -
Bad debts written off 2,445 7
Balance, October 31, 2006 (39,680) (7,560)
Doubtful debt expense (14,337)
Net movement in inherent risk provisions - 1,998
Recoveries of bad and doubtful debts (1,252) 7
Bad debts written off 19,092 .

Balance, October 31, 2007 (36,177 (5,562)

The average interest yield during the year on loans and advances was 8.3% (2006 — 8.4%). Impaired loans as at October 31, 2007 amounted t
$157,785 (2006 - $123,630). Included in business loans are advances to FCIB Jamaica totalling $88,754, which are pledged in favour of that bank i
support of loans granted to certain of its customers.

Property and equipment

Equipment,
Land and furniture Leasehold Total
buildings and vehicles improvements »« 2007
$ $ $s $s

Cost
Balance, November 1, 2006 18,535 32,386 12,051 62,972
Purchases 246 1,808 50 2,104
Disposals - (51) - (51)
Assets written off : (8 7 (8)
Balance, October 31, 2007 18,781 34,135 12,101 65,017

Naa eee eee ee







THE TRIBUNE

Accumulated depreciation
3alance, November 1, 2006 5,326 22,362 6,075 33,763
Depreciation 281 3,484 586 4,351
disposals : 51 - :G1
3alance, October 31, 2007 5,607 25,795 6,661 38,063
Net book value, October 31, 2007 13,174 8,340 5.440 26,954
Equipment,
Land and furniture Leasehold Total
bulidings and vehicles improvements 2006
$s s $ s
Cost
Balance, November 1, 2005 20,436 30,524 11,445 62,405
Purchases 450 1,438 84 1,972
Disposals (1,214) (191) = (1,405)
vransfers (1,137) 615 522 :
3alance, October 31, 2006 18,535 32,386 12,051 62,972
Accumulated depreciation
Balance, November 1, 2005 5,282 19,898 5,460 30,640
Depreciation 322 2,614 600 3,536
Disposals (224) (189) : (413)
Transfers (54) 39 15 :
salance, October 31, 2006 5,326 22,362 6,075 33,763
Net book value, October 31, 2006 13,209 10,.24 5,976 29,209

11. ctirement benefit assets and obligations

(he Bank has an insured group health plan and a pension plan. The pension plan is a mixture of defined benefit and defined contribution schemes. The
defined benefit sections of the scheme are non-contributory and allow for additional voluntary contributions. The insured health plan allows for retirees
1o continue receiving health benefits during retirement. Independent actuaries value the plan every three years. The most recent actuarial valuations of
ne plan assets and the present value of the defined benefit obligation were carried out as at November 1, 2004. At November 31, 2004, the valuation
-evealed a fund surplus of $20.0million.

The amounts recognized on the consolidated balance sheet are determined as follows:

Defined benefit Post retirement
pension plans medical benefits
2007 2006 2007 : ~ 2006
$ $ $s $
Fair value of plan assets 92,254 83,149 - -
Present value of funded obligations (68,189) (56,398) G,582) (9,368)
24,065 26,751 (3,582) (9,368)
Unrecognized actuarial gain (10,563 13,097 232) 2,240)
Net asset/(liability) 13,502 13,654 : 3,814) 11,608

The pension plan assets include 100,000 ordinary shares in the Bank.
The actuarial retum on plan assets for the defined benefit sections of the pension plan is $10,680 (2006: $6,494).
The amounts recognized in the current period are as follows:

Defined benefit



Post retirement
pension plans medical benefits
2007 2006 2007 2006
s $ $ : $
Current service costs 2,854 2,873 519 526
Curtailment and settlement costs (324) ' (378) (8,860) (52)
Expected retum on plan assets (6,177) (6,158) ~ 6 -
Interest cost 3,800 3,598 639 : 639
Total amount included in staff costs 153 : (65 7,702) 1,113
The movements in the net asset/(liability) recognized on the consolidated balance sheet are as follows:
Defined benefit Post retirement
pension plans medical benefits
2007 2006 / 2007 2006
$s $ $ $
Balance, beginning of year 13,654 13,597 (11,608) (10,600)
Charge for the year (153) 65 7,702 “(1,113)
Contributions paid : (8) = 7
Employer premiums for existing retirees - : 92 105
Foreign exchange translation gain 1 : - -
Balance, end of year 13,502 - 13,654 (3,814) (11,608)
Changes in the present value of the defined benefit obligation are as follows:
, 2087 2006
‘$s s
Present value of funded obligations at beginning of year 56,398 50,440
Interest cost 3,800 3,598
Customer service cost 2,854 2,873
Benefits paid (1,575) (963)
Actuarial loss on obligation 6,712 450
Present value of funded obligation at end of year 68,189 56,398
ew aheidne ae thee wut bbaeld
Changes in fair value of the plan assets arc as follows:
2007 2006
$ $
Fair value of plan assets at beginning of ycar 83,149 77,449
Expected return on plan assets 6,177 6,158
Benefits paid (1,575) > (963)
Actuarial gain on plan assets 4,503 505
Fair value of plan assets at end of ycar 92,254 83,149

The Bank expects to contribute $290 to its defined benefit pension plan in 2008.

The major categories of plan assets as a percentage of the fair value of total plan assets are as follows:

2007 2006
Equity instruments 64% 64%
Debt instruments : 35% 35%
_Other assets 1% 1%

The overall expected rate of return on plan assets is determined based on market prices and conditions.

The principal actuarial assumptions used at the balance sheet date are as follows:

Defined benefit
pension plans
2007 2006
Discount rate . 6.0% 6.5%
Expected retum on plan assets 7.5% 8.0%
Future salary increases 4.5% 45%
Future pension increases 1.5% 1.5%

Post retirement

medical benefits
2007 2006
Discount rate : 6.3% 6.5%
Premium escalation rate ‘ 4.5% 4.5%
Existing retiree age 7 60 64

The present value of the defined benefit obligation, the related current service cost and past service cost was measured using the Projected Unit Method.

Amounts for the current and previous year are as follows:

2007 2006

$ $

Defined benefit obligation (68,189) (56,398)

Plan assets 92,254 83,149

Surplus 24,065 26,751
Experience adjustments on plan

liabilities 6,712 450

Experience adjustments on plan assets . 4,503 505

Impact of changes in medical premium escalation rate

The impact of a 1% change in the medical premium escalation assumption on the sum of the current service cust and on the present value of the obligation is
shown in the table below. .

Change of -1% in
medical premium

Change of +1% in
medical premium



escalation rate escalation rate
$ 7 $
Current Service Cost + Interest Cost
Present Value of Obligation
12. Goodwill
2007 2006
$ $
Carrying amount, October 31 187,747 187,747. «

Bas


13. Customer deposits



a EE Ee

Included in deposits from banks are deposits from other FirstCaribbean Bank entities of $600,452 (2006 - $484,877) and deposits from CIBC and
Barclays Bank PLC entities of $13,463 (2006 - $12,757).

The effective rate of interest on deposits during the year was 3.4% (2006 — 3.8 %).

Payable on Payable Payable at a 2007 2006

demand after notice fixed date * Total Total

$s $s $ $s s

Individuals 130,846 180,166 943,418 1,254,430 1,060,998
Business and governments 712,115 29,892 997,229 1,739,236 1,887,731 .

Banks 2,636 - 641,720 644,356 535,471

845,597 210,058 2,582,367 3,638,022 3,484,200

Add: Interest payable 364 333 22,687 23,384 19,703

845,961 210,391 2,605,054 3,661,406 3,503,903

14.

15.

16,

17.

18.

19.

20.



.Net gain (loss) from changes in fair value of available-for-sale investment securities H

TUESDAY, APRIL 15, 2008, PAGE 9B

Debt securities in issue
2007 2006 i
$ $
Notes payable 20,000 -
Add: Interest payable 620 -
20,620 -

ed

During the year, the Bank issued $20 million in redeemable floating rate notes, with interest payable at a rate of Bahamas Prime plus 0.75% per
annum. The notes, which are unsecured, will mature on November 3, 2011, but may be redeemed at the option of the Bank.

Other borrowed funds
2007 2006
$ $
Repurchase agreements 273,544 280,692
Add: Interest payable 4,627 652

278,171 281,344

The Bank sold under repurchase agreements, investment securities having a fair value of $271,837 (2006: $279,337) and maturities between November
2007 and February 2008 (2006 — January 2007). The effective rate of interest on these borrowings during the year was 4.9% (2006-5.17%).



Other Habilities
2007 2006
s $
(Restated)
Accounts payable and accruals 23,553 15,156
Duc to brokers 4,835 -
Payroll liabilitics —- , 1,750 592
Amount due to related parties : 2,196
30,138 17,944
The amount due to related parties refers to balances duc to other FirstCaribbean Bank entities as well as CIBC and Barclays Bank PLC or their
subsidiaries.
Share capital
The Bank’s authorised capital is $20 million, comprising 150 million ordinary shares with a par value of $0.10 each and 50 million preference shares
also having a par value of $0.10 cach. All issued shares are fully paid. At October 31, 2007 and 2006, the issued share capital was as follows:
Number of shares Share Share .
par value premium Total
$ $ $
Ordinary shares, voting . 120,216,204 12,022 465,208 477,230
Share capital and reserves
2006
2007 $ e
$ (Restated)
Share capital (Note 17) 477,230 477,230
Reserves ,
Statutory reserve fund - Turks and Caicos Islands 12,000 6,800
Statutory loan loss reserve - Bahamas 16,495 14,661
Revaluation reserve — available for sale securities (5,862) 905
Reverse acquisition reserve (63,566) (63,566) -
Total reserves (40,933) (41,200)
Total share capital and reserves 436,297 “436,030

Under the Banking (Amendment) Ordinance 2002 of the Turks and Caicos Islands (TCI), the Bank was required in 2004 to assign capital to the TCI
operations in the amount of $24 million.

The movements im reserves were as follows:

2007 2006
$s $s
Statutory reserve fund — Tarks and Caicos Islands
Balance, beginning of year 6,800 2,800
Transfers from retained eamings 5,200 4,000
Balance, end of year 12,000 6,800

In accordance with the Banking (Amendment) Ordinance 2002 of the TCI, the Bank is required to maintain a statutory reserve fund of not less than the
amount of its assigned capital. Where it is less than the assigned capital, the Bank is required to annually transfer 25% of its net profit eamed from its
TCI operations to this fund. The Bank's practice is to make this transfer based on net profits of the preceding fiscal year. During the year the Bank
transferred $5,200 (2006: $4,000) from retained camings to the statutory reserve fund. .

2007 2006
s $
(Restated)
Revaluation reserve — avaitable-for-sale investment securities
Balance, beginning of year 905 -





(Note'8) . : : !
‘ Balance, end of year Ne S862) 905" * j
2007 2006 « H
$s $
Revaluation reserve — cash flow hedges
Balance, beginning of year - 817
Net loss from changes in fair value \ ° , : 817
Balance, end of year - -
2007 2006
$ $
Statutory loan loss reserve — Bahamas
Balance, beginning of year 14,661 -
Transfers from retained earnings : 1,834 14,661

14,661

Balance, end of year 16,495 A

Banking Regulations of The Central Bank of The Bahamas require a general provision in respect of the performing loans of at least one percent of these
foans. To the extent the inherent risk provision for loans and advances to customers is less than this amount, a statutory loan loss reserve has been
established and the required additional amount has been appropriated from retained camings, in accordance with IFRS.

Reverse acquisition reserve
2007 2006

$s $s
(63,566) (63,566)

At October 11, 2002, the equity of the Bank comprised the equity of Barclays Bahamas together with the fair value of the consideration given to acquire
CIBC Bahamas. However, legally the share capital of the Bank comprised the issued share capital of CIBC Bahamas plus the shares issued to effect the
combination, recorded at fair value. The reverse acquisition reserve is therefore the difference between the legally required share capital together with
the retained camings of Barclays Bahamas, and the equity of the Bank presented in accordance with IFRS.

Reverse acquisition reserve, beginning and end of year

Dividends
2007 2006
s $s
Declared and paid during the year
First dividend $0.25 cents (2006-$0.30) 30,054 36,065
Final dividend $0.22 cents (2006-$0.25) 26,445 30,054
56,499 66,119

Total dividends declared and paid

At the Board of Directors meeting held on December 17, 2007, a final dividend of $0.25 per share amounting to $30,054 was proposed and declared.
The consolidated balance sheet for the year ended October 31, 2007 do not reflect this resolution, which will be accounted for in equity as a distribution
of retained camings in the year ending October 31, 2008.

Related party balances

As discussed in Note 1, the Bank’s Parent and major shareholder is FirstCaribbean Intemational Bank Limited who owns 95.2% of the Bank’s ordinary
shares. From October 11, 2002, the Bank’s major shareholders were jointly CIBC and Barclays. On December 22, 2006, CIBC acquired Barclays’s
interest in the Bank and now owns 91.4% of the shares of The Bank’s Parent (FCIB). The remaining shares are widely held.

A number of banking transactions are entered into with related parties in the normal course of business. Outstanding balances at year-end and
transactions during the year are as follows:

Directors and key Major shareholder Ultimate
management personnel and associated banks Shareholders
2007 2006 2007 2006 2007 2006
$ s s $s $ $
Balances:
Due from banks - : 7 86 117,986 230,778
Loans and advances .
to customers 2,939 2,011 89,169 88,754 - -
Deposit liabilities 4,152 5,869 600,452 484,877 13,905 12,757

ee a

i) The agreement with Barclays Bank PLC whereby the Bank received an annual payment from Barclays Bank PLC of $10,000 effective
January 1, 2002, as an incentive for the Bank to retain its deposit placements with Barclays Capital expired on December 31, 2005.
ii) Expenses incurred in relation to banking and support services.

Contingent liabilities and commitments .

The Bank conducts business that involves guarantees, performance bonds and indemnities, which are not reflected in the consolidated balance sheet. At
the balance sheet date the following contingent liabilities and commitments exist:

‘ 2007 2006

s s

Letters of credit 47,728 60,881
Loan commitments 290,738 358,191
Guarantees and indemnities , 25,124 16,067

363,590 435,139

The Bank is the subject of legal actions arising in the normal course of business. Management considers that the liability, if any, of these actions would
not be material.

22. Future rental commitments under operating leases

As at October 31, 2007 the Bank held leases on buildings for extended periods. The future rental commitments under these leases are as follows:

2007 2006
s Ss

{
Not later than | year 2,220 2,695
Later than | year and not more than 5 ycars 4,552 6,104
Later than 5 years 1,291 2,428
8,063 11,227

SS



PAGE 10B, TUESDAY, APRIL 15, 2008 THE TRIBUNE

E. Cash flow and fair value interest rate risk

23. Business segments
The Bank operates four main lines of business organised along customer segments, but also includes treasury operations as a reportable segment.

1. Retail Banking is organized along four product lines: Premier Banking (dedicated relationship management), Home Finance (mortgages),
Consumer Finance & Credit Cards and Asset Management & Insurance.

2. Corporate Banking comprises three customer sub-segments: Corporate Business, Commercial Business and Business Banking. Corporate Banking
offers deposit and investment products, borrowing and cash management products, merchant card services and trade finance.

3. International Wealth Management is organized into four segments: Intemational Personal, International Premier, International Mortgages and
Intemational Corporate. The Personal Banking segment specializes in currency accounts, deposit accounts, U.S. dollar credit cards and
international mutual funds. The Premier Banking segment offers each client a personal relationship manager in addition to all of the products and
services offered by the Personal Banking segment. The International Mortgage group provides funding in U.S. dollars, to non-residents secking to
purchase second homes for personal use or as an investment. The International Corporate Banking segment specializes in providing banking
services to businesses and professional intermediaries at international financial centres.

4. The Capital Markets segment provides issuers and investors with access to larger pools of capital and greater investment opportunities. It acts for
and on behalf of large business and sovereign clients who seek both equity and debt capital instruments and facilitates the expansion of the

existing secondary market capabilities in the region.

The Treasury Group manages the interest rate, foreign exchange and liquidity risks of the Bank. In addition, the Treasury Group conducts foreign
exchange transactions on behalf of clients, where possible, and hedges fixed rate loans and investments with interest rate swaps.

Transactions between the business segments are generally on normal commercial terms and conditions.

Funds are ordinarily allocated between segments, resulting in funding costs transfers. Interest charged for these funds is based on the Bank’s funds
transfer pricing. There are no other material items of income or expense between the segments.

Segment assets and liabilities comprise operating assets and liabilities, being the majority of the consolidated balance sheet, but exclude items such as
borrowings.

Internal charges and transfer pricing adjustments have been reflected in the performance of each business.

Retail Corporate International Capital

Banking Banking WealthMgt Markets Treasury Other Eliminations Total
s s s s Ss s s s

October 31, 2007
Total assets 1,060,298 1,248,973 204,514 33,124 1,859,810 261,208 (72) 4,668,455
Total liabilities 486,987 946,534 1,647,465 : 915,419 30,575 (1,857) 4,025,123



Retail Corporate Internationals Capital

Banking Banking WealthMgt Markets Treasury Other Eliminations Total
s s s s $ Ss s $

October 31, 2006
Total assets 1,241,828 1,054,552 1,314,637 11,257 503,258 313,970 15,541) 4,423,961
Total liabilities 790,623 864,807 1,364,016 - 803,352 18,966 (14,841) _ 3,827,223



Geographical segments are set out in Note 24 (c).
24. Financial risk management

A. Strategy in using financial instruments

By its nature the Bank’s activities are principally related to the use of financial instruments. The Bank accepts deposits from customers at both
fixed and floating rates and for various periods and seeks to eam above average interest margins by investing these funds in high quality assets.
The Bank seeks to increase these margins by consolidating short-term funds and lending for longer periods at higher rates whilst maintaining
sufficient liquidity to meet all claims that might fall due.

The Bank also seeks to raise its interest margins by obtaining above average margins, net of provisions, through lending to commercial and retail
borrowers with a range of credit standing. Such exposures involve not just on-balance’ sheet loans and advances but the Bank also enters into
guarantees and other commitments such as letters of credit and performance and other bonds.

B. Credit risk

The Bank takes on exposure to credit risk which is the risk that a counter party will be unable to pay amounts in full when duc. The Bank
structures the levels of credit risk it undertakes by placing limits on the amount of risk accepted in relation to one borrower, or groups of borrowers,
and to geographical and industry segments. Such risks are monitored on a revolving basis and subject to an annual or more frequent review.

The exposure to any one borrower including banks and brokers is further restricted by sub-limits covering on and off-balance sheet exposures and
daily delivery risk limits in relation to trading items such as forward foreign exchange contracts. Actual exposures against limits are monitored
daily.

Exposure to credit risk is managed through regular analysis of the ability of borrowers and petential borrowers to meet interest and capital
repayment obligations and by changing these lending limits where appropriate. Exposure to credit risk is also managed in part by obtaining
collateral and corporate and personal guarantees, but a significant portion is personal lending where no such facilitics can be obtained.

Derivatives

The Bank maintains strict control limits on net open derivative positions, that is, the difference between purchase and sale contracts, by both
amount and term. At any one time the amount subject to credit risk is limited to the current fair value of instruments that are favourable to the
Bank (i.e. assets), which in relation to derivatives is only a small fraction of the contract or notional values used to express the volume of
instruments outstanding. This credit risk exposure is managed as part of the overall lending limits with customers, together with potential
exposures from market movements. Collateral or other security is not usually obtained for credit risk exposures on these instruments, except where
the Bank requires margin deposits from counterparties.

Master netting arrangements

The Bank further restricts its exposure to credit losses by entering into master netting arrangements with counterparties with which it undertakes a
significant volume of transactions. Master netting arrangements do not generally result in an offset of balance sheet assets and liabilities as
transactions are usually settled on a gross basis. However, the credit risk associated with favourable contracts is reduced by a master netting
arrangement to the extent that if an event of default occurs, all amounts with the counterparty are terminated and settled on a net basis. The Bank’s
overall exposure to credit risk on derivative instruments subject to master netting arrangements can change substantially within a short period since
it is affected by each transaction subject to the arrangement.

Credit related commitments

The primary purpose of these instruments is to ensure that funds are available to a customer as required. Guarantecs and standby letters of credit,
which represent irrevocable assurances that the Bank will make payments in the event that a customer canno* meet its obligations to third parties,
carry the same credit risk as loans. Documentary and commercial letters of credit, which are written undertakings by the Bank on behalf of a
customer authorizing a third party to draw drafts on the Bank up to a stipulated amount under specific terms and conditions, are collateralized by
the underlying shipments of goods to which they relate and therefore carry less risk than a direct borrowing. %

Commitments to extend credit represent unused portions of authorizations to extend credit in the form of loans, guarantees or letters of credit. With
respect to credit risk on commitments to extend credit, the Bank is potentially exposed to loss in an amount equal to the total unused commitments.
However, the likely amount of loss is less than the total unused commitments since most commitments to extend credit are contingent upon
customers maintaining specific credit standards. The Bank monitors the term of maturity of credit commitments because longer-term commitments
generally have a greater degree of credit risk than shorter-term commitments.

C. Geographical concentration of assets, liabilities and off-balance sheet items

The following note incorporates IAS 32 credit risk disclosures, [AS 30 geographical concentrations of assets, liabilities and off-balance sheet items
disclosures and a public enterprise’s IAS 14 secondary segment disclosures:

Total Total

. : assets liabilities Credit
s S$ commitments $
October 31, 2007
Bahamas 4,059,396 3,476,528 304,725
Turks & Caicos Islands 609,059 548,595 58,865
4,668,455 4,025,123 363,590
Totai Total
assets liabilities Credit
$ $ commitments $
October 31, 2006
(Restated)
. Bahamas 3,863,652 3,316,886 332,371
Turks & Caicos Islands 560,309 510,337 102,768 .
4,423,961 3,827,223 435,139

The Bank is managed based on the five business segments, and it operates in two main geographical areas. The Bank’s exposure to credit risk is
concentrated in these areas.

Capital expenditure is shown by geographical area in which the property and equipment are located.

Geographic sector risk concentrations within the customer loan portfolio were as follows:

2007 2007 2006 2006 :
XS % $ %
(Restated) (Restated)
Bahamas 2,132,804 , 88 2,233,963 92
Turks & Caicos Islands ~ 283,171 12 191,988 8
OE
6 :

D. Currency risk

Cash flow interest rate risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in market interest rates.
Fair value interest rate risk is the risk that the value of a financial instrument will fluctuate because of changes in market interest rates. The Bank
takes on exposure to the effects of fluctuations in the prevailing levels of market interest rates on both its fair value and cash flow risks. Interest
margins may increase as a result of such changes but may reduce or create losses in the event that unexpected movements arise. Limits are set on
the level of mismatch of interest rate repricing that may be undertaken, which are monitored on an ongoing basis.

Expected repricing and maturity dates do not differ significantly from the contract dates, except for the maturity of deposits up to 1 month, which
represent balances on current accounts considered by the Bank as a relatively stable core source of funding of its operations.

Liquidity risk

The Bank is exposed to daily calls on its available cash resources from overnight deposits, current accounts, maturing deposits, loan draw downs,
guarantees and from margin and other calls on cash settled derivatives. The Bank does not maintain cash resources to meet all of these needs as
experience shows that a minimum level of reinvestment of maturing funds can be predicted with a high level of certainty. The Board sets limits on
the minimum proportion of maturing funds available to meet such calls and on the minimum level of interbank and other borrowing facilities that
should be in place to cover withdrawals at unexpected levels of demand.

The table below analyses assets, liabilities and credit commitments of the Bank into relevant maturity groupings based on the remaining period at
balance sheet date to the contractual maturity date. :

Maturities of assets and liabilities









0-3 1-5 Over 5
October 31, 2007 months 3-12 months years years Total
$ $s $s $ $
Assets
Cash and balances with central bank 116,808 - - : 116,808
Due from banks 152,626 - - - 152,626
Derivative financial instruments 36,713 - - 36,713
Financial assets at fair value through
profit or loss 792,307 - - - 792,307
Other assets 32,662 - - - 32,662
Investment securities 102,310 108,915 459,387 222,549 893,161
Loans and advances to customers 243,785 260,733 397,769 1,513,688 2,415,975
Property and equipment ; - - : 26,954 26,954
Retirement benefit asset - - - 13,502 13,502
Goodwill : : - 187,747 187,747
Total assets 1,477,211 369,648 857,156 1,964,440 4,668,455
Liabilities
Customer deposits 3,116,341 497,720 47,092 253 3,661,406
Derivative financial instruments 30,974 - - - 30,974
Debt securities in issue 620 © - 20,000 vt 20,620
Other borrowed funds 186,933 91,238 - - 278,171
Other liabilities : 30,138 - - - 30,138
Retirement benefit obligations : - - 3,814 3,814
Total liabilities 3,365,006 588,958 67,092 4,067 4,025,123 '
Net on balance sheet position (1,887,795) (219,310) 790,064 —_ 1,960,373 643,332
Credit commitments 107,714 255,229 647 - 363,590
October 31, 2006 3-12 1-5 Over 5
(Restated) 0-3 months months years years Total
$ $ $ $s. $
Total assets , 1,442,081 441,335 1,007,379 1,533,166 4,423,961
Total liabilities 3,272,143 376,205 13,076 165,799 3,827,223
Net on balance sheet position (1,830,062) 65,130 994,303 1,367,367 596,738 ;
Credit commitments 25,953 409,186 - - 435,139

The matching and controlled mismatching of the maturities and interest rates of assets and liabilities is fundamental to the management of the
Bank. It is unusual for banks ever to be completely matched since business transacted is often of uncertain term and different types. An
unmatched position potentially enhances profitability, but also increases the risk of losses.

The maturities of assets and liabilities and the ability to replace, at an acceptable cost, interest-bearing liabilities as they mature, are important
factors in assessing the liquidity of the Bank and its exposure to changes in interest rates and exchange rates.

Liquidity requirements to support calls under guarantees and standby letters of credit are considerably less than the amount of the commitment
because the Bank does not generally expect the third party to draw funds under the agreement. The total outstanding contractual amount of
commitments to extend credit does not necessarily represent future cash requirements, since many of these commitments will expire or terminate
without being funded.

Fair values of financial assets and liabilities

The following table summarizes the carrying amounts and fair values of those financial assets and liabilities not presented on the Bank's balance
sheet at fair value. Bid prices are used to estimate fair value of assets, whereas offer prices are applied for liabilities.

Carrying value Fair value
2007 2006 2007 2006
Total Total Total Total
\ $ $$. $ $
: r (Restated) (Restated)
Financial assets
Due from banks 152,626 297,817 152,626 297,817
Loans and advances to customers 2,415,975 2,425,951 2,381,257 2,391,090
Investment securities
-loans and advances - 156,898 coe 168,561
Financial liabilities
Customer deposits 3,661,406 3,503,903 3,654,230 3,496,895
Other borrowed funds 278,171 281,344 277,231 281,240
Debt securities in issue 20,620 - 19,493 -
Due from banks

Due from banks include inter-bank placements and items in the course of collection. The fair value of floating rate placements and overnight
deposits is their carrying amount. The estimated fair value of fixed interest bearing deposits is based on discounted cash flows using prevailing
money market interest rates for debts with similar credit risk and remaining maturity. Their carrying values approximate their fair values.

Loans and advances to customers

The estimated fair value of loans and advances represents the discounted amount of estimated future cash inflows. Expected cash flows are
discounted at current market rates to determine fair value. The balances are net of specific and other provisions for impairment and their net
carrying amounts reflect their fair values.

Investment securities

Fair value for investments designated as loans and advances is based on market prices or broker/dealer price quotations. Where this information is
not available, fair value has been estimated using quoted market prices for securities with similar credit, maturity and yield characteristics. Where
fair values still cannot be measured reliably, these securities are carried at cost less impairment. Available-for-sale securities are measured at fair
value. : :

Customer deposits and other borrowed funds

The estimated fair value of deposits with no stated maturity, which includes non-interest-bearing deposits, is the amount repayable on demand.
The estimated fair value of fixed interest bearing deposits and other borrowings without quoted market price is based on discounted cash flows
using interest rates for new debts with similar remaining maturity.

25. Critical accounting estimates and judgements in applying accounting policies

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events
that are believed to be reasonable under the circumstances. The estimates and judgements that have a significant risk of causing material adjustments to
the carrying amounts of assets and liabilities within the next financial year are discussed below. .

The Bank takes on exposure to effects of fluctuations in the prevailing foreign currency exchange rates on its financial position and cash flows.
The Board of Directors sets limits on the level of exposure by currency and in total for both overnight and intra-day positions, which are monitored
daily. The table below summarizes the Bank’s exposure to foreign currency exchange rate risk at October 31. The off-balance sheet net notional
position represents the difference between the notional amounts of foreign currency derivative financial instruments, which are principally used to i

reduce the Bank’s exposure to currency movements, and their fair values. Disallowance of hedge effectiveness accounting

As discussed in Note 2, during the year, a review of the Bank’s hedge accounting revealed that existing hedge documentation was not

Concentrations of assets, liabilities and-credit commitments: appropriate. Consequently, all hedges existing as of that date were disqualified from having met the criteria for hedge accounting. The effect is



tabulated below.
October 31, 2007 BAH US . Other Total $7000
$ $ $ $
saabiid The effect on the balance sheet for 2006 was as follows:
Cash and balances with central
Bank - 103,199 11,567 2,042 116,808 Total equity as previously reported 605,406
Due from banks 1,161 48,612 102,853 152,626 Adjusted for:
Derivative financial instruments - 36,713 - 36,713 Increase in reserves 474
Financial assets at fair value through Decrease in retained earnings 9,142
. profit or loss - 792,307 - 792,307 Total equity as restated = 596.738
Other assets 10,287 20,879 1,496 32,662 ———
Investment securities ~ / : 133,974 720,623 38,564 893,161 il) Settlement date accounting : :
Loans and advances to customers 1,440,983 - —- 974,992 : 2,415,975 Effective March 1, 2007, the Bank changed the date on which all purchases and sales of financial assets at fair value through profit and loss are
Property and equipment 20,779 6,094 81 26,954 to be recognized from trade date to settlement date. The audited October 31, 2006 balances have been restated to reflect this change. The impact
Retirement benefit assets 11,731 1,771 - 13,502 on the audited October 31, 2006 balances was to reduce trading securities by $157,000, other assets by $82,000 and other liabilities by $239,000.
Goodwill 186,582 1,165 - 187,747
iii) Fair value of financial instruments
Where the fair values of financial assets and financial liabilities recorded on the balance sheet cannot be derived from active markets, they are
Tones 1,908,696 _2,614,723_ 145,036 4,668,455 determined using a variety of valuation techniques that include the use of mathematical models. The input for these models is taken from
a observable markets where possible, but where this is not possible, a degree of judgement is required in establishing fair values. The judgement
Liabilities includes considerations of liquidity and model inputs such as correlation and volatility for longer dated derivatives.
Customer deposits 1,348,011 2,064,913 248,482 3,661,406
Derivative financial instruments - 20,940 40,034 30,974 iv) Loan fee recognition estimate .
Debt securities in issue 20,620 . Z 20,620 : The Bank’s current processes and information technology systems do not support the treatment of loan fees and the related direct costs as an
Other borrowed funds : 278,171 : 278,171 adjustment to the effective interest rate and deferred. As a consequence, management has to estimate the effect of this treatment.
Other liabilities 280 “29,858 , - 30,138 . Z : a ,
+ Retirement benefit obligations 3.717 . 97 3814 In accordance with IAS 18 Revenue, loan origination fees, relating to loans that have a high probability of being drawn down, are to be deferred
—————— — qs m (together with related direct costs) and recognized as an adjustment to the effective interest yield on the loan. As a result of this change, $19,456
ee has been reclassified between other liabilities and loans and advances.
Total liabilities —__1370,245 2,393,882 260,996 4,025,123
26. Fiduciary activities
Net on balance sheet position 536,068 220,841 (113,577) 643,332
The Bank provides custody and trustee discretionary investment management services to third parties. Those assets that are held in a fiduciary
Credit commitments 104,967 257,062 1,561 363,590 capacity are not included in the consolidated balance sheet. At the balance sheet date, the Bank had investment assets under administration on behalf of
————————————eeseeeeee- third parties amounting to $21 (2006-$201).
Me ee Total 27. Principal subsidiary undertakings
$
October 31, 2006 Name Country of incorporation
(Restated) gi =
Total assets 1,857,111 2,452,370 114,480 4,423,961 FirstCaribbean Intemational Finance Corporation (Bahamas) Limited Bahamas
Total liabilities 1,336,948 2,274,672 215,603 3,827,223 FirstCaribbean Intemational (Bahamas) Nominees Company Limited Bahamas
FirstCaribbean Intemational Land Holdings (TCI) Limited Turks & Caicos Islands

Net on balance sheet position

520,162 177,698 (101,123) 596,738

Credit commitments 174,84) 258,395 1,903 435,139

All subsidiaries are wholly owned.





THE TRIBUNE

The Abaco Beach Resort
and Boat Harbour

is seeking candidates for three newly-created positions;
Bahamian nationals need only apply please for the following immediate
career opportunities:

VP of Human Resources - must have 3 - 5 years of previous

Human Resources total department leadership experience
in a large resort or hotel to fulfill all Bahamas HR

compliance and responsibilities. Minimum B.S. degree and
successful achievement record.
Please send your confidential e-mail resume to

bobkramm@yahoo.com

VP of Sales and Marketing - must have 3 - 5 years of
leadership experience and total department responsibility
for all sales and marketing for an international resort
destination. 30 - 50% travel may be required; prefer
Bahamas-based candidates, but U.S. based will be
considered. Candidates with large marina sales
experience and group rooms achievements will be
considered first.

VP of Finance and Administration - must have current
certifications, minimum B.S., preferred MBA/CPA
background. Only candidates with total resort/hotel
finance department responsibility will be considered

for this opportunity. Responsibilities will include finance,
contract management, internal audit, P & L leadership
training, and labor management/forecasting and staff
guide implementation.

All positions will be extended a housing allowance, base salary plus bonus

potential, and serve on the Organization Development Group (Executive
Committee) for this long-term career opportunity in Marsh Harbour,
Abaco Islands. Those with experience in real estate development and
real estate services (HOA, POA) wili be given preferential consideration.
Excellent verbal and written communication skills will be necessary!

Send your resume to Bob Kramm at bobkramm@yahoo.com
Learn more about the resort at: www.abacobeachresort.com

The Abaco Beach Resort and Boat Harbour is creating a Master Plan
for expansion and upgrading of its facilities and welcomes seasoned,
proven Bahamian professionals to join this exciting challenge”

© Copyright 2008 by thebahamasweekly.com

TUESDAY, APRIL 15, 2008, PAGE 11B

FIRSTCARIBBEAN

INTERNATIONAL BANK

CAREER OPPORTUNITY
for

Director, Corporate Banking — Bahamas and Turks and Caicos

UALIFICATION & EXPERIENCE

* Graduate status and at least 7 years proven experience in the business/financial

world.

Proven experience in managing comporaie/eqmuneroutt banking businesses and
emerging market experience.

Superior ability to interpret complex corporate client needs and to assemble
innovative value-adding solutions that achieve Client objectives.

A solid record of results, in business development, relationship management and
leading relationship management teams.

Focused and motivational leadership skills to galvanize a team to work
collaboratively and effectively for customer value and profitability.

High level of understanding of the markets, geographic, macro economic and global
factors impacting our client base.

Ability to work effectively within and across complex matnix structures

| RESPONSIBILITIES

As akey member of the senior leadership team, work proactively to contribute and .
to develop the Division’s strategic, business, financial and marketing plans to achieve
annual and year over year business objectives.

Lead and champion the sales/credit partnership to ensure the health of our credit risk
portfolio and to ensure that variances or concems in the credit portfolio are addressed
with client relationship management and resolved.

As the Senior Business Developer of the Corporate Business Unit, takes the lead on
complex and high value opportunities. Undertakes an active role with key high value
customers to support the client facing team to provide solutions and to problem solve
as needed.

Ensuring high client retention while enhancing and maximizing the profitability of
accounts

Applicants are requested to submit their resume with a cover letter via email

by April 18", 2008 to: Deangelia.deleveaux@firstcaribbeanbank.com



“Informative. I can be sure to read something of value in The Tribune. It is filled with



information about local news, sports, entertainment and world news — subjects that are

important to me. The Tribune is my newspaper.”

The Tribune

eis Bhs 4 hfe GA AOL /
My Vere. Miy Vlewspaprt

JASON RAHMING
CONSTRUCTION FOREMAN

Purchase The Tribune from your
local store or street vendor.



PAGE 12B, TUESDAY, APRIL 15, 2008
GN-666



SUPREME
COURT

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
No. 2008/PRO/npr/00144

Whereas ALFREDA WHITE a.k.a. ALBERTHA WHITE
of Haven Subdivision in Southern District of the Island of

New Providence, one of the Islands of the Commonwealth’

of The Bahamas has made application to the Supreme Court
_of The Bahamas, for letters of administration of the Real
and Personal Estate of GODFREY JEFFREY MCQUAY
late of Haven Subdivision in the Southern District of the
Island of New Providence, one of the Islands of the
Commonwealth of The Bahamas, deceased.

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date
hereof.

NICOYA NEILLY

(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
No. 2008/PRO/npr/00161

Whereas WILLIAM JOHN GODFREY ENEAS of
Montague Heights, Eastern District, New Providence, one
of the Islands of the Commonwealth of The Bahamas, has
made application to the Supreme Court of The Bahamas,
for letters of administration of the Real and Personal Estate
of SYLVIA MARGUERITE ENEAS late of East Ernest
Street, Eastern District, New Providence, one of the Islands
of the Commonwealth of The, Bahamas, deceased.

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date

hereof.
DESIREE-ROBINSON .
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
Li THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
No. 2008/PRO/npr/00162

Whereas SHAKIRA SHAKARA COAKLEY and DIANA
M. BETHEL both of Gum Tree Street, Pinewood Gardens,
Southern District, New Providence, one of the Islands of
the Commonwealth of The Bahamas, has made application
to the Supreme Court of The Bahamas, for letters of
administration of the Real and Personal Estate of DERON
RODRICK BETHEL a.k.a. DERON RODERICK
BETHEL late of Gum Tree Street, Pinewood Gardens,
Southern District, New Providence, one of the Islands of
the Commonwealth of The Bahamas, deceased.

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date

hereof. ;
DESIREE ROBINSON
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008

No. 2008/PRO/npr/00163

Whereas CLAUDIA SHARISSE JOHNSON of No.16
Sapphire Ridge, San Souci, Eastern District, New
Providence, one of the Islands of the Commonwealth of
The Bahamas, has made application to the Supreme Court
of The Bahamas, for letters of administration of the Real
and Personal Estate of DUDLEY WINSTON JOHNSON
late of Martin Street, New Providence, one of the Islands
of the Commonwealth of The Bahamas, deceased.

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date
hereof. ;
DESIREE ROBINSON
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
2008/PRO/npr/00 164

IN THE ESTATE OF BERYL ROCKAFELLOW, late of

Regency Park Nursing Home, N03325, Highway 35, Hazlet

in the County of Monmouth in the State of New Jersey,one
of the States of the United States of America, deceased.

NOTICE is hereby given that after the expiration of fourteen
days from the date hereof, application will be made to the
Supreme Court of The Bahamas in the Probate Division by
‘SAMANTHA M. WILLIAMS of No. 52 Old Cedar Street,
Western District, New Providence, one of the Islands of the
Commonwealth of The Bahamas, Attorney-At-Law, the
Authorized Attorney in The Bahamas for obtaining the
Resealed Grant of Letters Testamentary in the above

estate granted to DONALD G. ROCKAFELLOW, the
Executor, of the Estate by Monmouth County Surrogate's
Court, one of the States of the United States of America on
the 5th day of February, 1999.

DESIREE ROBINSON
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT

PROBATE DIVISION

APRIL 17, 2008

2008/PRO/npr/00164A

IN THE ESTATE OF GRAHAM E. ROCKAFELLOW,
late of No. 74 Cherry Tree Farm Road in the Township of
Middletown, County of Monmouth in the State of New
Jersey, one of the States of the United States of America,
deceased.

NOTICE is hereby given that after the expiration of fourteen
days from the date hereof, application will be made to the
Supreme Court of The Bahamas in the Probate Division by
SAMANTHA M. WILLIAMS of No. 52 Old Cedar Street,
Western District, New Providence, one of the Islands of the
Commonwealth of The Bahamas, Attorney-At-Law, the
Authorized Attorney in The Bahamas for obtaining the
Resealed Grant of Letters Testamentary in the above
estate granted to DONALD G. ROCKAFELLOW, the
Executor, of the Estate of Beryl Rockafellow by Monmouth
County Surrogate's Court, one of the States of the United
States of America on the 5th day of February, 1999.

DESIREE ROBINSON
(for) REGISTRAR

COMMONWEALTH OFTHE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
No. 2008/PRO/npr/00165

Whereas TANICO SHENIQUER HUNTER a.k.a.
TAMICO SHENIQUE HUNTER of Victoria Gardens,
Western District, New Providence, one of the Islands of the
Commonwealth of The Bahamas, has made application to
the Supreme Court of The Bahamas, for letters of
administration of the Real and Personal Estate of
VERNETTA MORRISON a.k.a. VERNETHA
MORRISON HUNTER late of Victoria Gardens, Western
District, New Providence, one of the Islands of the
Commonwealth of The Bahamas, deceased.

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date
hereof.
DESIREE ROBINSON
(for) Registrar

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT

PROBATE DIVISION

APRIL 17, 2008

2008/PRO/npr/00166

IN THE ESTATE OF JOHN M. ANKNEY, late of 3792
N.E. Ocean Blvd, Jensen Beach, Florida, one of the States
of the United States of America, deceased.

NOTICE is hereby given that after the expiration of fourteen
days from the date hereof, applicatiori will be made to the
Supreme Court of The Bahamas in the Probate Division by

PETRA M. HANNA WEEKES of the City of Freeport,

Grand Bahama, one of the Islands of the Commonwealth
of The Bahamas, Attorney-At-Law, the Authorized Attorney
in The Bahamas for obtaining the Resealed Grant of Letters
of Administration Multiple Personal Representatives in the
above estate granted to JON WYN ANKNEY and
JOSPEH THOMAS ANKNEY, the Personal
Representatives, of the Estate by Martin County, Circuit
Court, Florida, one of the States of the United States of
America on the 22nd day of February, 2007.

DESIREE ROBINSON
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT

PROBATE DIVISION

APRIL 17, 2008

2008/PRO/npr/00167

IN THE ESTATE OF VERA M. ANKNEY, late of 3792
N.E. Ocean Blvd, Jensen Beach, Florida, one of the States
of the United States of America, deceased.

NOTICE is hereby given that after the expiration of fourteen
days from the date hereof, application will be made to the
Supreme Court of The Bahamas in the Probate Division by
PETRA M. HANNA WEEKES of the City of Freeport,
Grand Bahama, one of the Islands of the Commonwealth
of The Bahamas, Attorney-At-Law, the Authorized Attorney
in The Bahamas for obtaining the Resealed Grant of Letters
of Administration Multiple Personal Representatives in the
above estate granted to JON WYN ANKNEY and
JOSPEH THOMAS ANKNEY, the Personal
Representatives, of the Estate by Martin County, Circuit

‘Court, Florida, one of the States of the United States of

America on the 22nd day of February, 2007.

DESIREE ROBINSON
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
No. 2008/PRO/npr/00168

Whereas PANDORA ETHELYN DAVIS of Alter Court,
Churchill Development, Eastern District, New Providence,
one of the Islands of the Commonwealth of The Bahamas,
has made application to the Supreme Court of The Bahamas,
for letters of administration of the Real and Personal Estate
of STANLEY GEORGE DAVIS a.k.a. GEORGE

THE TRIBUNE

STANLEY DAVIS late of Florida Court, Southern District,
New Providence, one of the Islands of the Commonwealth
of The Bahamas, deceased. ;

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date
hereof.
DESIREE ROBINSON

- (for) REGISTRAR

COMMONWEALTH OFTHE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
No. 2008/PRO/npr/00169

Whereas BARBARA LOUISE ROMER of Bel Air Estates,
Eastern District, New Providence, one of the Islands of the
Commonwealth of The Bahamas, has made application to
the Supreme Court of The Bahamas, for letters of
aduuinistration of the Real and Personal Estate of JAMES
ALEXANDER ROMER late of Bel Air Estates, Eastern
District, New Providence, one of the Islands of the
Commonwealth of The Bahamas, deceased.

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date

hereof.
DESIREE ROBINSON
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008

2008/PRO/npr/00170

IN THE ESTATE OF CASIMIR SKRZYNIECKI, late
of 164 Mettler Street in the City of Toledo in the State of
Ohio, one of the States of the United States of America,
deccased.’ ~ i aye

NOTICE is hereby given that after the expiration of fourteen
days from the date hereof, application will be made to the
Supreme Court of The Bahamas in the Probate Division by
JAMES LENNOX MOXEY of Shirley Street in the Island
of New Providence, one of the Islands of the Commonwealth
of The Bahamas, Attorney-At-Law, the Authorized Attorney
in The Bahamas for obtaining the Resealed Letters of
Authority in the above estate granted to GARY
HOLEWINSKI the Executor of the Estate, by the Probate
Court of Lucas County, Ohio, on the 16th day of October,
2007.

NICOYA NEILLY

(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
: THE SUPREME COURT .
; PROBATE DIVISION
No. 2008/PRO/npr/00171

Whereas DEYANE E. RUSSELL of Yellow Elder Gardens
in Western District of the Island of New Providence, one
of the Islands of the Commonwealth of The Bahamas has
made application to the Supreme Court of The Bahamas,
for letters of administration with the Will annexed of the -
Real and Personal-Estate of FAYE ANN ECKEL (a.K.a.)
FAYE A. ECKEL late of 873 South Highway 48, Creek
County in the City of Mannford in the State of Oklahoma
one of the States of the United States of America, deceased.

Notice is hereby given that such applications will bé heard

by the said Court at the expiration of 14 days from the date

hereof.
NICOYA NEILLY »
(for) REGISTRAR

COMMONWEALTH OF TILE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
No. 2008/PRO/npr/00173

Whereas McARTHUR MOSS of the Western District of
the Island of New Providence, one of the Islands of the
Commonwealth of The Bahamas has made application to
the Supreme Court of The Bahamas, for letters of
administration of the Real and Personal Estate
of HILDA MOSS late of Baillou Hill Road in the Southern
District of the Island of New Providence, one of the Islands
of the Commonwealth of The Bahamas, deceased.

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date
hereof.

NICOYA NEILLY

(for) REGISTRAR



COMMONWEALTH OF THE BAHAMAS

THE SUPREME COURT

* PROBATE DIVISION
APRIL 17, 2008

2008/PRO/npr/00174

IN THE ESTATE OF ROBERT H. ABPLANALBP, late of
the Village of Bronxville of the Town of Eastchester in the
County of Westchester in the State of New York, one of the
States of the United States of America, deceased.

NOTICE is hereby given that after the expiration of fourteen
days from the date hereof, application will be made to the
Supreme Court of The Bahamas in the Probate Division by
MICHAEL ALVIN DEAN of Hampshire Street in the
Western District of the Island of New Providence, one of
the Islands of the Commonwealth of The Bahamas, Attorney-
At-Law, the Authorized Attorney in The Bahamas for
obtaining the Resealed Letters Testamentary in the
above estate granted to JOSEPHINE ABPLANALP,
JOHN P. ABPLANALP, MARIE H. HOLCOMBE and
WILLIAM E. GRIFFIN the Personal Representatives of
the Estate, by the Surrogate's Court of the State of New
York, Westchester County, on the 16th day of September,
2003.

NICOYA NEILLY
(for) REGISTRAR



Full Text


mews iMinmneawm ue
AMY WH) ] a
a

77F | TRIN 3 RIVE Re RIVE



WINDY, SUN
el al oct

————
=
=

Lscoecncceenensimeaneaas

Volume: 104 No.120



Friends with

Benefits

‘SEE ‘WOMAN SECTION’

aU



TUESDAY, APRIL 15, 2008



ribun





BAHAMAS EDITION

=
Ai 7

"MARLINS VERSUS THE COBRAS|



(2 storey yellow building: oa |
ture Styles)”













Sandor Fowler, sought for
questioning in connection
with killing of 86-year-old,
is captured in Fox Hill

SANDOR Fowler, the 33-
year-old man being sought
for questioning in the brutal
killing of 86-year-old Iris
Archer, was captured by
police late Sunday night.

According to police press
liaison officer Walter Evans,
Fowler was arrested in Fox -|.339§
Hill shortly after 9pm.

Fowler was being sought
for questioning in connection
with the gruesome death of
Mrs Archer, who was found
dead in her home shortly
after 1pm on Sunday.

Mrs Archer was found
stabbed to death in her home ~
in Dannottage Estates, and
an attempt had been made
to set her body on fire:

Police on the scene could
neither confirm nor deny that
Mrs Archer had also been
sexually assaulted.

Fowler is expected to be
brought before the courts this
week,

was sure that she did not want
to accompany her to church.
Mrs Archer’s response, her
nieces said, was that she did
not feel well, but that she




| 20-YEAR-OLD Theophilus

Murder: wanted man caugit



Tim Clarke/Tribune staff







Lloyd is escorted to court
yesterday.



According to Mrs Archer’s
nieces Debbie Darville and
Patrice Ferguson, the 86-year-
old lived with her only daugh-
ter Karen Archer-Culmer,
who left the house early on

would be all right athome §

alone.

With no signs of a forced
entry to the home, many
neighbours speculated that
Mrs Archer may have known
her attacker and let him into

| @ By NATARIO
McKENZIE






) A 20-YEAR-OLD man
} was arraigned in Magis-
trate’s Court yesterday





Sunday to attend the Sunday
morning service at St Agnes



her house.
Fowler was reported to

Anglican Church.
Sunday morning was the have been an altar boy at St
only time that Mrs Archer had “48€S some years ago. Mrs
missed a service, her family Archer, it was revealed, was
wae a member of the Anglican
Her daughter reportedly Church Women (ACW) atSt i By KARIN HERIG
had asked Mrs Archer if she 8S: Tribune Staff Reporter

kherig@tribunemedia.net

FINANCIAL analysts have
advised casino operator Isle of
Capri to pull out of the
Bahamas following substantial
revenue losses in the
company’s international opera-
tions.

In what could be another
potential blow to Grand
Bahama’s already weakened
economy, Isle of Capri was told
that it has overestimated its
Florida market and conse-
quently has left its operations
at the Our Lucaya Resort
“under-utilised,” Associated
Press reported yesterday.

The company should there-

Bahamas, analyst Justin Sebas-
tiano of the Morgan Joseph and

Get savings





Analysts advise casino operator
to pull out of the Bahamas



fore move towards leaving the.

built right into
your mortgage

_ with the Fidelity MoneyBack Mortgage _



Zhivargo Laing

Co investment banking firm. -.

said.

Minister of State for Finance
Zhivargo Laing told The Tri-
bune yesterday he is not aware

SEE page six

| charged with the murder of a

.ed and detained for another



man who was found dead
with a bullet to the head in a
church yard earlier this
month.

Theophilus Lloyd, of Sol-
dier Road, appeared before
Chief Magistrate Roger
Gomez charged with the
April 3 murder of Preston
Cooper. Cooper, 41, was
found dead with a bullet to
the head in front of Out-
reach Evangelic Church in
Redland Acres, off Soldier
Road.

Lloyd’s attorney Jerone
Roberts told the court that
his client had initially been
arrested on or about April
7 but had been released after
being detained for more
than 48 hours. ~

Mr Roberts told the court
that his client was re-arrest-























48 hours, which would have’
expired on Friday morning.

Mr Roberts said that
when he had inquired as to

‘SEE page six







Three in court
in connection
with British
toddler’s death

@ By NATARIO McKENZIE

THREE men charged in con-
nection with the death of a British
toddler who was killed by a
speedboat on Paradise Island in
2002 appeared in Supreme Court
yesterday where their attorneys
argued that widespread publici-
ty of the case had prejudiced th
local jury pool.

Attorney Lisa Bostwick, who
appeared along with Henry Bost-
wick QC, submitted that, as a
result of this, their constitutional
right to a fair hearing had been

. infringed.

Boat driver James Alexander
Bain, along with boat owners
Evengeless Williamson and Clif-
ford Nottage, have been charged .
with manslaughter through negli-
gence in the death of two-year-
old Paul Gallagher Jr of Orping-
ton, south-east London.

According to reports, on
August 15, 2002, the Gallaghers,
who had been staying at Atlantis,
were sitting on Cabbage Beach
near a lifeguard tower when a

SEE page six

Private bus firm
has plans to
improve public
transport system

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

A PRIVATE company of inde-
pendent bus franchise holders has
come forward with plans to
improve public transport during
the industry’s 100-day challenge.

The challenge is a part of an
agreement between government
and industry stakeholders to
improve the quality of service
offered as justification for
increased fares sought by bus dri-
vers.

The request for fare increases
results from increased fuel costs,
which are constantly eroding prof-
it margins for drivers and fran-
chise owners.

Harrison Moxey, president of
Unified Transportation Compa-
ny, which comprises nearly 20
independent franchise holders,
declared that “a better day is com-
ing” in the industry yesterday at a

SEE page six

Fidelity
MoneyBack
Mortgage

Call of visit Fidelity today.
Nassau: ¢ 356.7764
Freeport: { 352.6676
Marsh Harbour: ( 367.3135

= FIDELITY

ROU RAL LAER) lad
PAGE 2, TUESDAY, APRIL 15, 2008

THE TRIBUNE



Lea LA LN 2 ae TS a
First Tourism Careers Expo

| touches down in Cat Island




PARES
Tre ss
ea Cos
REVEL

IN AN effort to improve the :





quality of hurricane press cover- :
age as acomplement to measures :
aimed at minimising related dam- :
from 15:
Caribbean countries including the :
Bahamas are attending a region- :
al workshop on the topic running :

age, journalists

from April 14 to 16 in Havana.

Sponsored by Cuba's Jose :
Marti International Institute of :
Journalism and the United ;
Nations Educational, Scientific :
and Cultural Organisation :
(UNESCO), the workshop is :
aimed at meeting the need to cre- :
ate a relevant communication :
strategy as a way to help min- :
imise the number of victims and :
the material losses caused by hur- :

ricanes in the Caribbean.

Keeping populations informed :
and guiding them before, during :
and after the passing of hurri- :
canes is of the utmost importance ;
in minimising the negative effect :
of the storm, the organisers not- :

ed.

They said in a press release :
that professors from the Juan :
Dolset Scientific and Environ- :
ment Journalist Office, experts ;

from the Ministry of Science,

Technology and the Environ-
ment and specialists from the :

General Staff of Civil Defence,

among others, will give lectures
and lead debate sessions as part :
of the academic programme of :

the workshop.

Topics

Climate change, hurricanes in
the Caribbean, the role of the ;
mass media and journalistic prac- :

tices related to the coverage of :

harritanes are some of the topics"

to be dealt with at the event.

Meanwhile, local weather sci- :
entists say they are very con- :
cerned that the Bahamas this :
year could face a turbulent hur- :
ricane season similar to those of :
2004 and 2005, when Grand
Bahama and other islands were :

devastated by major storms.

The newest forecast for the }
2008 Atlantic hurricane season }
predicts that 15 named storms :
will form between June 1 and :

November 30.

Eight of those are predicted to :
become hurricanes and four are :
expected to develop into major :
hurricanes of category three or :

higher.

The renowned Colorado State :
University’s meteorology team :
announced its forecasts for the :
upcoming hurricane season last }
week, increasing its earlier pre- :
dictions of 13 named storms to :

15.

in the United States.

Chief Climatologist at the :
Department of Meteorology :
Michael Stubbs said that this new }
information does not bode well :

for the Bahamas.
“We know what paths hurri-

canes have taken historically.
Although landfall is always diffi- :
cult to predict, the Bahamian }

archipalego is (very vulnerable). :
It doesn’t look good.



Hurricane experts Philip :
Klotzbach and William Gray in }
their report said that they expect :
a “very active” season with an }
above-average probability of a ;
major hurricane making landfall :

CAT Islanders began the
process of “building a produc-
tive workforce through con-
nectivity” with their first ever
island-wide Tourism Careers
Expo.

More than 60 exhibitors rep-
resenting 27 companies from
Cat Island and New Providence

made themselves available to.

students from throughout Cat
Island. The two-day event
included career presentations
from reputable community and
business leaders and tours of
Cat Island’s historic points of
interest.

“This was the biggest repre-
sentation from the industry that
we have ever seen at any fair in
recent years,” said Ruthann
Rolle, manager of Tourism
Youth Awareness in the Min-
istry of Tourism and Aviation.
She also served as chairperson
of the Careers Expo. “Local
exhibitors and the 17 persons
from New Providence hailed
the event an educating one.”

Ms Rolle said that the senior
management team of the Min-
istry of Tourism and Aviation is
also looking forward to sup-
porting similar events on other
islands, after the great success
of Cat Island’s Tourism Career
Expo.

The expo connected students
with professionals from all eight
tourism product sectors —
accommiodations, transporta-
tion, food and beverage, events
and conferences, attractions

- and retail, travel trade, adven- -
ture tourism and tourism ser--"

vices.
There were also exhibitions

STUDENTS LISTEN to presenters during the first ever island-wide Tourism Careers Expo.

by BTVI, the Lyford Cay
Scholarship Foundation, the
Royal Bahamas Defence
Force, the Royal Bahamas
Police Force, the Environmen-
tal Health Department, local
barbers, beauticians, BEC and
BTC.

Seminars

The event began with “career
blitzes”, seminars and a work-
Shop for various grade levels.

- Students from all primary
“schools on the island converged
at New Bight Primary School

and were made aware of the.

importance of tourism to the
Bahamas. Meanwhile, high
school students met for sessions
at Old Bight High School.

Kendall Major, senior man-
ager for communications in the
Ministry of Tourism and Avia-
tion and co-host on the
“Tourism Today” television
show, spoke to the primary
school students and their teach-
ers,

“While there are a wide vari-
ety of jobs available in the
tourism industry, young per-
sons must study and learn as

. much as possible about the



CAREER EXPO presenters and organisers (from left): Ruthann Rolle of Ministry of Tourism, historian
Eris Moncur, Leslie Norville of Ministry of Tourism and Collette Brown and J Armstrong of BTC



FREE DELIVERY ANY WHERE IN NASSAU AND TO THE MAIL BOAT





¢ E-Z CREDIT TERMS AVAILABLE —

| Donald's Furniture —
And Appliance Centre

SIXTH TERRACE CENTREVILLE TEL: 322-1731 OR 322-3875

STORE HOURS:
Monday - Saturday
8:30am - 5:30pm

BILLY’S DREAM





UENO:



islands of the Bahamas so that
they are able to market all of
the wonderful, natural attrib-
utes of our people and our
country to our visitors, in order
to make their vacation experi-
ences as warm and friendly as
possible and to guarantee that
they would return,” Mr Major
said. /

After their discussions, the
primary students toured the
Hermitage at Mt Alvernia and
the Deveaux House plantation
Tuins. Seventh and eighth grade
students also toured the
Deveaux Estate and the Bour-
bon Plantation.

Dereka Moultrie and Craig
Mortimer of the Ministry of
Tourism covered all four objec-
tives for the Bahamas Junior
Certificate course work on
tourism with ninth graders.

In addition, Bahamas Film
Commissioner Craig Woods
told senior high students how
they could prepare for film pro-



duction opportunities and
Monique Hinsey, co-ordinator
of the Lyford Cay Foundation,
told them that there are mil-
lions of dollars in scholarships
available to them.

Adoption

Before the close of the expo,
two Cat Island businesses —
Bridge Inn Restaurant and
Sammy T’s Resort -
announced their official adop-
tion of Old Bight High School
and Arthur’s Town High
School, respectively.

The adoption comes through
the Ministry of Tourism’s Hos-
pitality Opportunities Through
Experiential Learning
(HOTEL) programme, which
allows hotels and other estab-
lishments to provide avenues
for students to gain work expé~
rience and learn about the hos-
pitality industry.

Small plane makes
emergency landing
in South Bimini

rowly escaped injury after engine trouble forced the pilot to
make an emergency landing in South Bimini, The Tribune has

learned.

At around 10am on Sunday morning, the Department of
Civil Aviation in Alice Town, Bimini received word that the twin
engine aircraft was forced to land prematurely after the pilot
noticed that the right engine was smoking.

According to department employee Julia Hanna, a turbo
charger on the right engine started smoking and “blew out”,
however it was not on fire as some early reports indicated.

The plane, which was en route to Ft Lauderdale from Chub
Cay in the Abacos, reportedly landed safely at the South Bimi-

ni Airport, police said.

While the four passengers, the pilot and co- pilot escaped the
harrowing ordeal safely, the plane sustained damage to its right
side and is stil! at the South Bimini Airport.

Just last month, an emergency landing of a Western Air

Airport in Nassau.

plane delayed passengers at Lynden Pindling International

That plane, en route to New Providence from Andros, expe- -
rienced difficulties with its landing gear forcing the pilot to
perform a “precautionary landing,” it was reported.

The 12 passengers on board escaped injury and were evacu-

ated.

USA TODAY MAIN is

seseP 12,8415; 0
te ee



TION PAG :S

“USATE oDAY (SPORT TS SE 1 ON 12 PAGES


THE TRIBUNE

TUESDAY, APRIL 15, 2008, PAGE 3



© In brief

Haiti to get
emergency
food aid
through OAS-
PADF venture



FOOD CRISIS: The OAS’ S Group
of Friends of Haiti met to discuss
the country’s problems. OAS
Assistant Secrétary General Albert
R Ramdin chaired the meeting

AROUND 400 tons of for-
tified rice, worth more than
$1.5 million, is available for
delivery as emergency food
‘aid to Haiti, the Pan American
Development Foundation has
announced.

PADF, an affiliate of the
Organisation of American
States, said the food is espe-
cially aimed at those in great-
est need.

OAS Assistant Secretary
General Albert R Ramdin
chaired the meeting of the
organisation’s Group of
Friends of Haiti, at which
PADF executive director John
Sanbrailo announced the pro-
posed aid package.

Mr Sanbrailo also appealed
to OAS member states and
other interested parties to help
mobilise $200,000 in funds to
underwrite the cost of ship-
ping the rice.

Security

The food would be distrib-
uted largely to schools (under
the school feeding pro-
grammes), health centres for
women and children, hospi-
tals and community groups
operating in Cité Soleil, Bel
Air and other locations where
PADF has programmes, Mr
Sanbrailo explained.

In addition to the food secu-
rity question, Mr Ramdin
identified the need for effi-
cient food distribution systems
to ensure those most in need
receive help, and in that
regard he praised the PAD-
F’s network for aid delivery.

Mr Ramdin also cited
immediate employment
opportunities as a way to help
maintain political and social
stability in Haiti, arguing that
street cleaning projects would
generate useful short-term
employment.

Several member state rep-
resentatives reiterated their
support for urgent action to
mobilise assistance for Haiti,
detailing their respective gov-
ernment’s initiatives, such as
food and security assistance
provided by Brazil, Canada
and other governments.

Solidarity

Bahamian Ambassador C
A Smith conveyed the soli-
darity of the CARICOM gov-
ernments, assuring the Friends
of Haiti meeting that, “We
stand ready to assist in what-
ever way we can.”

On behalf of his govern-
ment, Haiti’s permanent rep-
resentative Ambassador Duly
Brutus thanked the OAS and
PADF as well as member
states and the other interested
partners, for their demonstra-
tion of commitment to his
country.

Mr Ramdin suggested the
“Friends of Haiti,” which
includes OAS member states
and observers as well as key
inter-American institutions
such as the Inter-American
Development Bank and the
Pan American Development
Organisation (PAHO), meet
again before a meeting in
Haiti this coming April 24 and
25 to consider funding for the
government’s National Strat-

OVERSEAS SECURITY ADVISORY COUNCIL ASSESSES BAHAMAS’ AUTHORITIES

Report: Police resources are targeted
more at reaction than deterring crime

POLICE resources in the
Bahamas are generally devoted
to reaction rather than crime
deterrence, charged a recent
report by a US security monitor-
ing organisation.

The Overseas Security Advi-
sory Council (OSAC) made this
assessment of local authorities in
its 2008 Crime and Safety Report
on the Bahamas.

According to the group’s web-
site, the organisation is a Federal
Advisory Committee with a US
government charter to promote
security co-operation between
American business, private sec-

tor interests worldwide and the
US Department of State.

“The police have few emer-
gency vehicles, and streets and
houses are generally unmarked,
inhibiting responders from locat-
ing affected residences,” said the
report. “To ensure quick response
to a residence, victims should go
to the local police post and pro-
vide transportation to the site. If
detained by the police one should
co-operate, identify yourself as
an American citizen and request
to make contact with the US
Embassy immediately.”

Despite this warning to Amer-

ican citizens, the overall report
informs readers that, for the most
part, violent crime in the coun-
try is confined to the local popu-
lation, while noting that authori-
ties respond quicker to com-
plaints that occur at hotels and
tourist establishments.
“Predictably, the vast majority
of crime occurs on crowded New
Providence island. Most violent
crime involves only Bahamian cit-
izens. Although the Bahamas
experienced a record number of
homicides in 2007 (79), nearly all
the victims were Bahamian and
nearly all the murders occurred

‘NOT FIT FOR HUMANS’

Fred Mitchell slams the state of
Environmental Health building

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

AFTER inspecting
deplorable working conditions
that nearly 89 Environmental
Heath staff have to endure ona
daily basis, former Minister of
Foreign Affairs and Public Ser-
vice Fred Mitchell called upon
Minister of State for Finance,
Zhivargo Laing, who is respon-
sible for accommodation, to
immediately provide a better
working environment.

Visiting the building in the
rear of Nassau Court, Mr
Mitchell said he had worked as
a messenger in the office when
he first left high school in 1970.

“The state of the building is
appalling and is certainly not fit
for human habitation or as a
workplace. There is no ade-
quate lighting, no adequate san-
itary facilities and bathrooms.
I am advised that there is
asbestos in the building.

“The staff have to endure
gasoline ‘stored right next to

where they work. The commer-.

cial garbage from the cruise
ships and Bay Street is stored in
front of the building, proximate
to where they have to work.,
“I have spoken to the Minis-
ter of Health directly about
these concerns and he has
promised an immediate inter-
vention,” Mr Mitchell said.
However, Mr Mitchell added

aatieerinneea
Taxi driver’s
body flown
to Nassau
for autopsy

THE body of popular taxi-
driver Benjamin ‘Ben’ Delan-
cy is being flown to Nassau
from Eleuthera for an autop-
sy. Mr Delancy died on Sun-
day - his 67th birthday - when
his cab swerved to avoid an
oncoming car at Hatchet Bay,
where he had just dropped
off a passenger.

He was catapulted from his
seat when the taxi hit a small
“precipice”, throwing open
the driver’s door.

Mr Delancy was thrown
into the air and died on
impact with the road, a
source told The Tribune last
night. “Had he been wearing
a seat-belt, he might have
been saved,” he added. Mr
Delancy, a father of three,
had been a taxi-driver on
Eleuthera for more than 30
years. He was well-known at
North Eleuthera Airport and
Three Island Dock.

He and his wife Minerva
were due to have visited their
daughters - Abigail and
Anastasia - in Alabama to
attend their granddaughter’s
graduation.

Relative and friend Gilbert
Kemp said: “He was looking
forward to it. They used to
spend a couple of months
over there every year. He
was always a good father.”

His son, Wilkinson, lives in
Hatchet Bay. Mr Kemp
added: “Everyone is very
upset about this. Ben was so
popular that a song was
named after him.

“It’s called ‘Ben Went
Fishing All Night’ and is still
played at jumping dance and



UNDER ATTACK: Condition

that blame for this debacle must
lie squarely at the feet of the
minister responsible for accom-
modation, Mr Laing.

“Attention must be paid by
the accommodations minister
immediately to find a satisfac-
tory place for these 89 workers
to be headquartered. Given the
urgent health concerns this must
be done now, not later. I have
pledged to raise the matter in
parliament.

“T have also spoken to John
Pinder, president of the
Bahamas Public Services



S “appalling”.

Union, who is au fait with the
matter, so that this can be
brought to a head. It is a matter
of urgency,” he said.

Workers at the scene yester-
day complained not only of
deplorable conditions inside the
building, but also of the piles of
commercial garbage in front of

. the office left by staff from the

Department of Roads and
Parks. Reportedly, garbage col-
lected from Bay Street is stored
in front of the building until it
can be collected - sometimes
weeks later.

POLICE TO MEET YOU!

MAKING FRIENDS: Police me residents in I EOICrte



AS part of their ongoing effort to reduce crime by building
relationships with the public, officers from the Carmichael Road
Police Station conducted a walkabout on Saturday.

The exercise was carried out in the Golden Gates and Sunshine
Park areas, where a number of residents had expressed concerns

about the crime rate.

Officers arrested one man in connection with the discovery of a
quantity of marijuana, and organised the removal of a number of

unsightly derelict vehicles.

GREETINGS: Police learn of marinas HOMIE

CARPET, FURNITURE, MARBLE & TILE CARE

THE Most THOROUGH RESTORATION & CLEANING Ever, OR THE Jos 1S FREE!
NASSAU'S ONLY PROFESSIONAL, CERTIFIED STONE CARPET & UPHOLSTERY CARE SYSTEMS.

* Carpet, Upholstery, Stone and Marble Cleaning &

Restoration Specialist.

Prochem Cleaning Systems removes Deep & Heavy
Soil, Bacteria, Grease, Watermarks and Stains from
Carpeting & Furniture, restoring them to like new

at a fraction of replacement cost.

Carpet, Sofa’s, Loveseats, Chairs, Dining Chairs, Cars,

Boats, Grout, Tiles, Marble & Stone

on New Providence island in’ Nas-
sau neighborhoods not frequent-
ed by tourists,” said OSAC.

US citizens visiting the
Bahamas are also advised by the
OSAC report to use common
sense to avoid being victims of
crime while in the country.

“Tf you are in an area that
makes you feel uncomfortable or
you do not see other tourists, you
are probably in the wrong area
of town. Visitors should protect
themselves as they would in any
large or major metropolitan city.”

Americans who live in the
country are advised to invest in

home security. Intruders, said the
report, can be deterred by the use
of residential alarms, guards and
a good emergency plan.

“Still, should you be confront-
ed by a group or person demand-
ing money or valuables, you
should comply with their
demands and make the encounter
as brief as possible. Unless pro-
voked, criminals engaged in prop-
erty crimes in the Bahamas do
not generally engage in gratuitous
violence.

“However, in the Bahamas,
many criminals do carry
firearms,” it said.




a Olay Ola am cele MN LLCCLAT LIM ell NVCeA RSIS BO







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.





7 DAYS A WEEK FOR YOUR SHOPPING CONVENIENCE






egy Paper on Growth and
Poverty Reduction.

Established in 1956 by an old Bahamian family

Parliament Street (near Bay St.) Tel: 322-8393 or 328-7157
° Fax: 326-9953

Crystal Court at Atlantis, Paradise Island Tel: 363-4161/2

Harbour Green Shops at Lyford Cay
(next to Lyford Cay Real Estate) Tel: 362-5235

e-mail: info@colesofnassau.com ° P.O. Box N-121

ringplay events on the
island.”

Mr Delancy’s daughters
and their families are expect-
ed to fly to Eleuthera for the
funeral, which will probably
be held at St Catherine’s
Church, Hatchet Bay, next
week.

[ae |

Persian. Wool & Silk Carpet Cleaning Specialist



Marble Polishing, Restoration & Care



Wood Floor Restoration

FOR 3 IN 1 LAWN SERVICE
Fertilizer, Fungicide,
Pest Control



Authorized StoneTech Professional Contractor

CALL PROCHEM BAHAMAS
PHONE: 323-8083 or 323-1594

ONLY WE CAN DO IT RIGHT!

wiwis.prochemsystem.com * www.stonetechpro.com * www.iicre.org
* psp@coralwave.com

~ YOUR LOCAL MEMBER OF THE-

PROCHEM SYSTEM (sm)

MU PCM TE Ley
322-2157






PAGE 4, TUESDAY, APRIL 15, 2008

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE





The Tribune Limited



NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI



Being Bound to Swear to The Dogmas of No Master
LEON E. H. DUPUCH, Publisher/Editor 1903-1914

SIR ETIENNE DUPUCH, Kt, O.B.E., K.M,, K.C.S.G.,
(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972



Contributing Editor 1972-1991

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

Published Daily Monday to Saturday
Shirley Street, PO. Box N-3207, Nassau, Bahamas

Publisher/Editor 1972-

Insurance Management Building., P.O. F-485, Freeport, Grand Bahama

A mathematical disaster



THE failure of government schools in the

’ Bahamas to do their duty by the new generation is

spelled out all too clearly in a new study of the
nation’s secondary education system.

The disclosure that 82 per cent of students at
public schools have no basic “literacy” in mathe-
matics is shocking. It means that most young
Bahamians do not even possess the kind of numer-
ical prowess required to work out the weekly shop-
ping bill. a

Even when private schools are factored into
the equation, the mathematical “illiteracy” rate
still stands at 59 per cent - hardly a statistic to give
parents a warm and cosy feeling about their chil-
dren’s achievements in one of the two really vital
core subjects.

Not knowing basic mathematics is almost as
disabling as not knowing basic English. It is so
central to a normal, fruitful life that its absence is
almost akin to having only one leg, or one eye.

The findings, in a study by scholar Ralph
Massey, point once more to a long, downward
spiral in educational standards that does not augur
well for the future of the Bahamas. It is conceivable
- in fact, more than likely - that the next 20 years
will see this nation condemned to a level of scholas-
tic mediocrity that could seriously undermine its
economic future.

It was all so different 40 years: ago when the
PLP set its sights on higher education standards for
all Bahamians. The late Minister of Education
Cecil Wallace-Whitfield had a clear vision of where
The Bahamas needed to be academically. In fact,
educational advancement was seen as imperative
if the Bahamian people were to enjoy the full
fruits of self-determination and social progress.

However, the bitter truth is that we are even
more seriously adrift from those objectives than we
were then. Today, The Bahamas is in serious dan-
ger of producing a 21st century populace of illit-

erates, innumerates and ignoramuses with a serious

shortfall in all the basic areas of knowledge.

Though it profits no-one to harken back to colo-
nial times, it has to be said that those who had
the good fortune to pass through a school like
Government High in the 1950s and 1960s emerged
with a sound command of the three Rs - reading,
writing and what was jokingly known as ’rithmat-
ic.

They were ready to enter the workplace, take
advantage of demanding apprenticeships, and
emerge. a few years later as fully-trained trades-
people or professionals.

Many GHS students went on to good universi-
ties and did well in white-collar occupations. Oth-
ers were savvy enough to launch their own busi-

nesses and prosper mightily over the years since-

then.

Since 1967, however, despite all good inten-
tions, educational standards have sagged alarm-
ingly, opening up a yawning gap between what’s on
offer on the “exclusive” campuses of the best pri-
vate schools, and the sometimes appalling stan-
dards in the state school compounds.

Though teachers are invariably targeted as cul-
prits in this decline, we suspect that the profession
is as conscientious and committed as it ever was.

However, their job has changed dramatically
over the years, and salaries have never kept pace
with their burgeoning responsibilities.



Quality Auto Sales

PRE-OWNED
CARS & TRUCKS

For the best deal in town on
pre-owned cars, with warranty!

NOW IN
STOCK

‘00 HYUNDAI ACCENT
‘01 HYUNDAI COUPE
‘04 HYUNDAI SANTA FE

Very low mileage, very clean

‘O06 HYUNDAI ELANTRA Very clean
‘06 HYUNDAI TUSCON GLS
‘99 SUZUKI GRAND VITARA 3dr

In today’s irresponsible and unaccountable soci-
ety, teachers are expected to take on many of the
duties that once fell to parents.

They do more than teach. They have to become
psychologists, psychiatrists, nursemaids, discipli-
narians and role models, too.

And all in an environment that is becoming |

increasingly hostile, with youngsters turning to
violence in their attempts to gain power in the
playgrounds.

Fired up by the appalling influence of the elec-
tronic media - that is, television, movies and com-
puters - many non-academic students see knives
and sometimes guns as equalising agents in an

environment which offers no status and little rea- ~

son for self-esteem.
Their disruptive impact on their colleagues, and

- the educational process itself, must lead to many of

the abysmal exam results schools are experiencing
today.

It is impossible for any teacher, however tough,
to impart knowledge effectively to even the most
receptive of pupils if their classes are polluted by
louts hell-bent on making life a misery.

No wonder so many teachers fall victim to the
stresses and frustrations of an increasingly thank-
less task. It’s amazing that the profession has any
recruits at all, given that some campuses have to
take on characteritsics of the Gulag just to remain
functional. The real problem of declining educa-
tional standards begins, of course, where most

other social difficulties are spawned: in the home. .

The more mothers and fathers turn their backs
on the responsibilities of parenting, the more chil-
dren have to contend with the traumas of deadbeat
homes, the greater will be the task of elevating edu-
cational standards to anything like an acceptable
level.

Somehow, we must get back to instilling in chil-
dren the realisation that education is not just vital
to their future well-being as functioning members
of society, it is also the means by which they can
achieve a level of serenity and satisfaction in their
lives.

It isn’t just about getting qualified for a highly-
paid job. It is about mental enrichment and the joy
that brings in one’s everyday life.

Any child leaving school without basic mathe-
matics, or a rudimentary understanding of our
great language, is severely handicapped from day
one in the wider society.

Trying to forge a productive life for oneself

’ without any of the tools needed for the job is like

trying to reach space without a rocket, or the
seabed without a submarine. It can’t be done.

Poor education creates more than a fundamen-
tally dissatisfied, unproductive population. It also
creates criminals, those whose intellectual short-
comings leave them with few options but to pick up
a gun.

Mr Massey’s research ought to echo resound-
ingly in the head of every politician this morning.

Whatever spin respective parties like to put on
this most important of issues, they cannot evade
what has now become dazzlingly obvious: that
successive governments have let down our children
very ba ‘lly indeed.

It is now time to devise a strategy to reverse the
errors of the past and put Bahamas education
back on track.










DESIGN

















PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that |, DOUGLAS URAL _MCKINZIE
of Perpal Tract, West Bay St., Nassau, Bahamas, intend to
change my name to DOUGLAS URAL GIBSON. If there are any
objections to this change of name by Deed Poll, you may write
such objections to the Chief Passport Officer, RO.Box N-742,
Nassau, Bahamas no later than thirty (30) days after the date of
the publication of this notice.

ENGINEERING
COMPETITIVE PRICING

The utility
companies must
treat complaints

more seriously

EDITOR, The Tribune.

AS corporate citizens go, the
power and utility companies
appear not to be very honest
brokers. In my opinion the con-
sumer seems to be regarded, by
them, as an unequal part of the
equation that, if they have to,
they feel they can do without.
This is obviously not so, of
course, because without us they
would have no need for the
water and power they produce;
but this is how they make us
feel. Why have I come to this
conclusion?

As consumers of the products
these utility companies produce,
we consider ourselves partners
with them and not merely num-
bers that make up their yearly
statistics.

Most water and electricity
users expect, and are prepared,
to pay the cost for whatever
quantities of these products
they consume; what they don’t
wish to pay for are the kilowatts
of electricity and gallons of
water they didn’t use, but for
which they are being billed.

' Very often bills are rendered
showing amounts that are gross-
ly out of the norm and which
utility company personnel know
to be ultra unusual.

A quick search of the con-
sumer’s history of usage tells
them, immediately, that some-
thing is wrong and that the
client should be called to their
office for some kind of dialogue
before bills are just simply sent
in the mail.

If we were regarded as part-
ners and not just statistics, they
would do this kind of public
relations, as part of their
“modus operandi” and avoid all
the mistrust the public has of
them. I have three stories to tell,
which can be duplicated many
times over during the course of

’ amonth. The first story is about

a couple that lived in a two-bed-
room apartment in Kings Bay
condo for many years. Their
power bill, for all those years,
remained constant between
$225-$265 monthly. One month
they were shocked to receive a
bill for more than $500. They
appealed to every authority at
the establishment, but in the
end were made to pay the full
amount. Company personnel
did, in fact, do some meter test-
ing but reported nothing wrong
with their equipment.

The following month and all
the subsequent, months and











WOOD AND COLD-FORMED STEEL
TRUSSES

FAST BIDDING INFORMATION




LETTERS

letters@tribunemedia.net



years afterwards the billings

‘went back to ‘the average of

$225-$265 and remained. The
many years of history of usage,
by that couple, meant nothing
to the company and for your
information, that couple was
yours truly and his wife.

The second story.involves a
friend of mine who has two
houses; he lives in one and
keeps the other unoccupied. He
recently received bills for elec-
tricity $500 plus and
water/garbage more than $200.
Nobody lives at the address,
water pipes are not leaking and
there is no justification for those
amounts, which should be the
minimums.

Like all other complaints
though, they fall on deaf ears
and most people, not knowing
where to turn or who to turn to
next, get disgusted and just pay,
because they wish not to lose
the service. They have, all of us
over a barrel.

The third story is about a
friend of a friend, who received
a $2500 water bill. Naturally he,
as angry as a hornet, showed up
at the utility office to complain.
Certain investigations were car-
ried out but in the end he was
left stuck with paying the
charges.

No leaky or broken pipes
were discovered and checks of
the water meter, revealed noth-
ing out’ of order.

They asked the gentleman to

‘pay $500 on deposit and

arrangements were made for
the remainder to be paid in
installments.

Turning away disappointed,
the gentleman could not believe
he used that much water in a
month, especially that there

were no signs of leakage any-
where. He decided to appeal to
the utility company and found a
sympatheticear. |

The decision was to test the
situation from a somewhat sci-
entific point of view and see
what resulted. What they did
was to take into consideration
the diameter of the pipe carry-
ing the water to his house and
measure the maximum amount
of water which can possibly pass
through the pipe on a twenty-
four hour per day basis with the
valve fully opened; then multi-
ply that amount by the number
of days billed.

What they discovered was
that the man couldn’t use that
much water, under those ideal
conditions in several months of
flowing.

They made the necessary
arrangements to adjust his bill
to his average usage.

‘Good corporate citizens tend
to be good partners with their
clientele.

I call on the Grand Bahama
Power Company and the Grand
Bahama Utility Company to
begin to do the right thing.

Begin to treat complaints
from consumers seriously, and
not as a bother and/or a nui-
sance.

We are not all looking to get
something for nothing; most of
us wish to pay our share but we
don’t want to pay somebody
else’s.

_In addition, these frequent
electrical outages are ruining
our appliances and computers,
what is being done about that?
We need to get a serious dia-
logue going here. Until next
time, those are my views.

FORRESTER

J CARROLL JP
Freeport, :

Grand Bahama |
Bahamas March 24, 2008.

Astounded by public
garbage dump burning

EDITOR, The Tribune.

On Friday, February 23rd, I saw an alarmingly large cloud
looming over the western end of New Providence.
Later, I was astounded to discover that it was the public garbage

dump burning.

As I was driving through Cable Beach the following Saturday
morning there was a highly toxic odour which forced me to roll up

my car windows.

In my country, burning garbage has been forbidden for the
past 30 years which is why I was so shocked to learn that this is an
acceptable practice in The Bahamas.

Incineration and recycling are the preferred methods of waste dis-

posal.

Not to mention that the detrimental health effects caused by open

air burning are well documented.

I would urge the citizens of The Bahamas to contact their local
MP with respect to this matter as well as asking those Ministers
responsible for the Environment to resolve this problem in the
health interests of not only Nassau's residents but also its tourists.

A CONCERNED FOREIGN RESIDENT
Nassau,
February, 2008

30% - 50%

Off

STOREWIDE SALE



SAVVY BOUTIQUE

Prom
Dresses,
Formal Wear




‘02 SUZUKI GRAND VITARA 5dr
‘03 SUZUKI BALENO #3
‘95 TOYOTA AVALON

361-7764

Road to City Dump after Premix
Email:ggongora@coralwave.com




Between Johns and
Indulgence Shoe Stores

a



& Rosetta St. Palmdale

Accessories

Ph: 322-5773

AUTHORIZED
MANUFACTURER



ar Abaco Motor Mall, Don MacKay Bivd, 367-2916


THE TRIBUNE

TUESDAY, APRIL 15, 2008, PAGE 5



PS re ee a ee eee
Department of Immigration

launches electronic ID cards



In brief

Bahamas Ferries |

announces a
ticket agency

agreement with
local retail outlet

BAHAMAS Ferries, the
inter-island marine trans-
portation service provider,
has announced a new part-
nership with the retail dis-
tribution outlet Hip Hop
City Ltd to sell passenger
ferry tickets.

The company said the
move will eventually lead
to the widespread distribu-
tion of its tickets to the
public through ticket and
travel agencies. :

At the moment, tickets
can only be bought at the
Potter’s Cay Terminal or
over the internet.

“We are excited about
these new and future rela-
tionships because it will
provide our customers
with the added conve-
nience of several different
locations other than our
Potter’s Cay Terminal to
purchase tickets,” said Joy
Russell, customer service
manager for the company.

Hip Hop City is located
in the Soldier Road Shop-
ping Centre.:

Kingsway Academy

‘Fiesta’ to feature
fashion show, live
entertainment

A FASHION show and
live entertainment will
feature at Kingsway
Academy’s ‘Fiesta’ in the
school grounds at Bernard
Road on Saturday.

A bouncing castle, pony
rides, hoopla and clowns
will also be part of the
family fun at the all-day
even, organised by the
Parent-Teacher Associa-
tion.

Reggaeton
musician is
missing after

hotched attempt :

to flee Cuba

@ MIAMI

FRIENDS and family of
Cuban rapper and Reggaeton
artist Elvis Manuel held out
hope Monday that he was alive,
one week after he reportedly
disappeared trying to cross the
Florida straits in a failed human
smuggling operation, according
to Associated Press.

Part of the confusion over
Manuel’s whereabouts came
from his own mother and about
a dozen other Cubans who were
picked up Wednesday by the
U.S. Coast Guard after their
boat capsized and who gave
conflicting accounts of their voy-
age. Nearly all were repatriat-
ed to Cuba on Saturday.

Two alleged smugglers were
taken into federal custody, fed-
eral officials said but declined
to give details, citing the ongoing
investigation.

Coast Guard Petty Officer
Dana Warr said the lack of reli-
able information hindered their
search and may have risked the
life of Manuel.

“To protect smugglers and
allow your own family to drift
aimlessly at sea is incredible,”
Warr said.

The Coast Guard sent a plane
to search for Manuel and others
Friday with no results. On Mon-
day, its boats were still on alert
but the official search was called
off.

‘According to the Coast guard,
Manuel’s mother Irioska Maria
Nodarse and the other migrants
initially told officers they left
the island Sunday night and that
their craft capsized early Mon-
day. The group was picked up
by a smuggling. boat, which also
capsized, the migrants said. As
they clung to the sides of the
twin-engine, 25-foot catamaran,
a cargo boat rescued them and
sent word to the Coast Guard,
which quickly arrived.

;

TROPICAL
rss ea

RULE
PHONE: 322-2157







oN.
DIRECTOR OF Immigration Vernon Burrows
said the system would enable the Department ‘to
protect our country’s borders from illegal immi-
gration, criminals, terrorist activities and an illic-
it workforce’.



THE Department of Immigration has
launched its fully integrated system for the
issuance of electronic identification cards.

The cards will be issued to holders of work
permits, permanent residence certificates, per-
mits to reside, home owners and resident
spouse permit holders.

According to the government, the system
will also greatly enhance the processing of
immigration documents, “and improve the
efficiency and effectiveness of the services
rendered by the Department of Immigration
to the public.”

Persons applying for permits must present
themselves to the department to be finger-
printed and to sign off on their permits.

“The safety of the travelling public and the
protection of national borders are now a pri-
ority to countries around the globe. Govern-
ments are advocating, and putting in place,
fraud proof electronic systems that cannot
easily be compromised by persons engaged
in illicit activities,” said the department in a
statement. “These systems help to more effec-
tively protect the borders in the interest of
national security.”

“The electronic identification card system of
the Department of Immigration brings the

department in line with international devel-
opments in this area. The electronic cards will
make it possible for the Department of Immi-
gration to better manage border clearance,
monitor persons placed on the restricted and
stop lists and more effectively deal with appre-
hension and deportation matters,” it said.

Prior to the implementation of the system,
Indusa, a company with experience in elec-
tronic border control systems based in
Greenville, South Carolina, reportedly worked
closely with the management at the depart-
ment to design, install and put the system
into operation. Familiarization seminars and
training sessions were conducted to prepare
staff to manage the system.

Director of Immigration Vernon Burrows,
said “we decided to implement a chip-based e-
ID solution with facial scans and fingerprints,

System ‘will greatly enhance
processing of documents’

and a border control system that tags each
passport holder with his immigration card.
This would enable the Department to protect
our country’s borders from illegal immigra-
tion, criminals, terrorist activities and an illic-
it workforce”. 5

The government said the biometric-based
system will allow the department to efficient-
ly and effectively monitor persons who enter
the Bahamas as visitors, residents or to take up
employment in the country.

As the department adjusts to its new system,
the director asked the public to “kindly exer-

’ cise patience” in immigration clearance areas

at ports of entry and at the department head-
quarters, “as the officers and staff endeavour
to improve their service to the public. The
department thanks the public for its under-
standing.”

Bahamas to host World Blind Union’s North
America and Caribbean Division Meeting

@ By LLONELLA GILBERT

THE Bahamas will host the
World Blind Union’s North
America and Caribbean Divi-
sion meeting on April 17 and 18
at the Wyndham Nassau and
Crystal Palace Resort.

This announcement was made
by president of the Bahamas
Alliance for the Blind and Visu-
ally Impaired Desmond Brown.

Mr Brown said regional lead-
ers, policymakers, programme
designers and providers of spe-
cial services for the blind will
meet to discuss issues that
impact the lives of blind and
visually impaired individuals.

He explained that the WBU
is a non-political, non-religious,
non-governmental and non-prof-
it organisation representing
more than 160 million persons
who are blind or have partial
sight in over 170 countries.

“It is internationally recog-
nised as the organisation speak-
ing on behalf of blind and par-
tially sighted persons in the
world,” he said. ;

Mr Brown said this is the sec-
ond time in nine months that the
Bahamas has been asked to host
a regional meeting.

Delegates

In July 2007, the alliance and
the Salvation Army hosted the

noted, “that 600 million or 10



lion.

blind rises by one to two mil-

Tim Aylen/BIS

DESMOND BROWN, president Bahamas Alliance for the Blind and Visually Impaired, speaks using a braille speech as other committee members
look on during the press conference

tourist destination. '
He also announced that th

without proper statistical data.
“Realising the urgency of cor-

Caribbean Council for the Blind-
’s annual general meeting where
delegates charted the course of
the organisation for the next 24
months.

“In hosting these meetings
and conferences the Alliance
seeks and urges individuals,
organisations and agencies to
develop and forge stronger rela-
tionships with these interna-
tional and regional partners pro-
moting the sharing of ideas,
information, technology, et
cetera,” he explained.

He said attendees discuss
issues that will positively affect
the lives of blind and visually
impaired persons in the
Bahamas.

Mr Brown said another
important reason for hosting
these meetings and seminars is
that by doing so, the alliance is
promoting the country asa

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

star.

Alliance will be celebrating its
11th anniversary with a week of
activities which began on Sun-
day, April 13.

There was a church service at
St Marks Baptist Church on
April 13, and the official opening
of BABVI office will be held at
the Salvation Army Adult Blind
Workshop Building, Ivanhoe
Road on April 16.

Opportunity

Undersecretary in the Min-
istry of Social Development
Alan, Strachan said the ministry
welcomes the opportunity to join
hands with the Bahamas
Alliance for the Blind as it pre-
pares to host the upcoming
meeting of the WBU.

“Tt is estimated,” Mr Strachan

Young woman dubbed the
Bahamas’ first porn star

A YOUNG Bahamian woman who attended Nassau’s top two
independent schools has been dubbed the country’s first porn

The description has appeared on an X-rated website which
showed her engaging in explicit sex acts.

per cent of the world’s popula-
tion are living with disabilities,
and according to the World
Health Organisation over 45 mil-
lion of these individuals are
blind; 1.4 million are children,
124 million are categorised as
low vision and 135 million
are diagnosed as visually-
impaired.

“Every five seconds an indi-
vidual in our world goes blind,
every single minute a child goes
blind, and every year the num-
ber of persons becoming totally

“Tt is also estimated that with-

out intervention the number of
blind persons will increase to 75
million by the year 2020,” he
said. ;

“The good news however,

is that 75 per cent of
blindness is either treatable or
preventable.”

Mr Strachan said that in the
Bahamas, it is impossible to pro-
vide much needed programmes
and services for the disabled in
an efficient and effective manner



545

SRADER HOLDS
o) -oy-\ ease



recting this deficiency, the Dis-
ability Affairs Division of the
Department of Social Services
has initiated a nationwide reg-
istration drive to develop a
National Registry of all persons
with Disabilities living in the
Bahamas.”

He said the information
obtained will also assist non-gov-
ernmental organisations such as
the Bahamas Alliance for the
Blind in accomplishing their
objectives.

The site, which describes her as the first such star in the
Bahamas, refers to the Bahamian as 19-year-old ‘Sloane’, an ass-
sumed name.

Sources have confirmed to The Tribune the real name of the
woman, that she is Bahamian and that she was a former student
of both Queen's College and St Andrew’s.

‘Sloane’ features on another website, which bills itself as a
local ‘swingers’ club.. _

The Bahamas is featured when ‘Sloane’ is mentioned online.
One portion of the site is entitled ‘Sloane in the Bahamas’,
and shows the woman posing in a bikini on the beach.

She is topless in one picture, and appears to be at The Clois-
ters on Paradise Island in another.

A website citing figures from 2006 places worldwide pornog-
raphy revenues at $96 billion. The data also indicates that there
are some 4.2 million pornography websites, 420 million porn
pages, 68 million daily pornographic search engine requests,
along with some 2.5 billion daily pornographic e-mails.

According to the website, 42.7 per cent of. Internet users
view pornography.

He doesn't know it yet. All he needs is someone to inspire him to cause an effect. That's why
Nova Southeastern University’s Fischler School was created more than 35 years ago. Our
ideas, our approach and our programs are all founded ona simple belief — when you inspire
people to learn, you inspire them to change the world. Earn your bachelor’s, master’s, or
doctoral degree in education online or on-site in the Bahamas.



ATTEND AN INFORMATION MEETING TO LEARN MORE:
Tuesday, April 15, 2008, at 6:00 p.m.

| Saturday, April 19, 2008, at 10:30 a.m.
Nova Southeastern University
c/o Bahamas Baptist Community College
8 Jean Street Gleniston Gardens

N OV. A SOUTHEASTERN FISCHLER SCHOOL

OF EDUCATION & HUMAN SERVICES.

> Are you ready to cause aneffect? » 242-364-6766 » FischlerSchool.nova.edu/Bahamas



theast
r, Gao:

origin, * Noy








PAGE 6, TUESDAY, APRIL 15, 2008

THE TRIBUNE



Three in court
in connection
with British

toiler’s death

FROM page one

speedboat pulling an inflatable
banana float lost control and :

sped on to the sand.

Paul Gallagher Jr., who was :
asleep on a deckchair at the :
time, was struck by the boat and
died as a result of severe head :
injuries a few days later. Since :
the death of their son, father :
Paul and his wife Andrea Gal- ;
lagher have been campaigning :
to have those responsible for :
their son’s death held liable in :

the courts.

After the toddler’s death was
initially ruled an accident in a :
2003 Coroner’s Inquest, the :

Gallaghers pushed to have the
investigation reopened and sub-
sequently manslaughter charges
were brought against the three
men now standing trial.

In her submissions before Jus-
tice Elliot Lockhart, Ms Bost-
wick claimed that the minds of
the jurors had been prejudiced
by local media reports on the
matter.

Highlighting some of the
reports, Ms Bostwick said there
was a suggestion that the men
were guilty of the offence.

Justice Lockhart, however,
said that in the reports he found
nothing to advance the case of
negligence and that with proper
directions to the jury the rights
of the accused men would be
safeguarded against any poten-
tial prejudices.

The trial is expected to begin
at 10am today.

Casino operator advised
to pull out of Bahamas

FROM page one

of this situation and has not received
any communication from the Isle of
Capri in regards to this financial advice
by the Morgan Joseph analyst.

Mr Laing added that although the gov-
ernment has been subsidising operations
at the casino for some time now, there
has been no indication that Isle Capri
has any intentions of pulling out of the
Our Lucaya Resort.

He also pointed out that just because
analysts may have recommended the clo-
sure of operations in Grand Bahama,

this does not necessarily mean that Isle
of Capri will heed the advice.

However, Mr Laing said that anytime
that an economic entity plans to down-
size or close down operations, it is a mat-
ter of concern for the country — espe-
cially in Grand Bahama, where people
have endured a very sluggish economy
for the past six years.

The Associated Press reported yester-
day that Isle of Capri Casino Inc’s shares
dropped after analyst Mr Sebastiano said
that the casino operator is facing strong
competition in most of its markets and

should exit its international operations. °

In addition to pulling out of the Unit-

ed Kingdom, Mr Sebastiano also advised
Isle of Capri to exit its Bahamian oper-
ations.

The analyst in a client note said that
Isle of Capri looked at the Bahamas as a
way to cross-market to its Pompano Park
customers in Florida. However, the com-
pany’s over-assessment of the Florida
market has left the Bahamas under-
utilised, he said.

Robert Griffin, senior vice-president of

operations at Isle of Capri, said last
month that international operations con-
tinue to lose money and that his compa-
ny will re-evaluate its entities outside of
the US in an effort to improve cash flow.

Last month Tribune Business reported
that Isle of Capri’s Grand Bahama casi-
no Saw its net operating loss for the quar-
ter to January 27, 2008, drop by 52

er cent from $349,000 in 2007 to
169,000.
However, Isle of Capri said that the
’ casino at the Our Lucaya Resort turned
in a relatively flat revenue performance
for its fiscal 2008 third quarter and that
total revenues for the first three quarters
of the current fiscal year were down
some 6.8 per cent, standing at $10.79
million compared to $11.579 million in
the previous year, which ended in April,
2007

FROM page one

press conference at the Chamber
of Commerce.

The company was created to
bring together private owners to
alleviate chronic inadequacies in
public transportation which stake-
holders felt were not being
addressed.

There are no time schedules for
buses, insufficient bus stop mark-
ings, inadequate bus stop shelters
and regular complaints about dan-
gerous driving by public sector bus
drivers.

During the period for the chal-
lenge, UTC is implementing a pilot
project in the eastern district.

Fare box rules will be enforced,
said Mr Moxey, and the public will
be encouraged to produce correct

change for fares, as drivers will

Bi oviserlit)
HELP WANTED

Private citizen invites applications for the position of:

Homecare Assistant

You must possess a good working attitude, pleasant
disposition, be trustworthy and Kind- hearted.

Elderly couple in Cherokee Sound, Kbaco: requires
a live-in, homecare assistant who can provide the
highest level of quality care with warmth and

compassion.

Interested applicants please forward your resume to:-

Fax: (242) 366-2121

or
P.O. Box EE-15715
Nassau, Bahamas

Nursing experience is preferred but not a must.
Attractive compensation package offered..







qualifications:





Senior Client Advisor

‘The successful candidate should possess the following



ROYAL BANK OF CANADA WEALTH MANAGEMENT
is considering suitable applications for

¢ MBA or Law Degree (preferred)
e 3-5 years experience in providing advice & sountians



Private bus firm

not be providing change.

Additionally, a model route will
be established along with time
scheduling for buses, and route
monitoring of drivers to ensure
proper practices are being fol-
lowed. Those who violate the rules
will face sanctions, including sus-
pension, the company said.

UTC began with 5,000 shares
and it is looking to add more
stakeholders to the company, said
Jamal Davis, vice-president and
legal counsel of the company,
through a new private offering.

The company also has a mar-
keting arm, which seeks to explore
promotional ventures such as using
the sides of buses to sell ads, to
increase revenues.

Mr Moxey and a team of offi-
cers from the company also dis-
played to the media plans for the
creation of bus new bus stop shel-
ters, mini-bus terminals with con-
cession stands and a full bus ter-
minal.

These infrastructural sugges-
tions for improvement of the
industry will not be implemented
during the challenge, noted Mr
Moxey, but are. intended as ideas
for the overall upgrade of the
industry.

Along with the increase in fuel
charges that diminishes profit mar-
gins for stakeholders, bus drivers
have also lost a tax exemption at
the beginning of this year on the
importation of new vehicles.

The cost of new vehicles has
consequently increased by about
$20,000.



Es

THIS 'S ACE REPORTER
TAMAL PicksToCK FOR
TINGUM NEWS, ToDAy

WE/RE TALKING ABOUT





a
J



ME, SIK, BUT CATV

DOVOV THINK [Ss THE
REAS OL BEHIND A121 T
CRIME ALL TH



20-year-old charged
with shooting death

FROM page one

why Lloyd was being detained
again, an order based on a sum-
mons filed on Saturday was
shown to him. »

Mr Roberts questioned how
it was possible to have an order
filed on a Saturday.

He said officers involved in
the investigation had
been unco-operative with him
and that his client had
been beaten while in police cus-
tody.

Mr Roberts also told the
court that his client had always



TELL US, WHAT






WORK

TEEF [00 O01 Aes OUT
my CHECK, TALK)?

maintained that he knew noth-
ing about Cooper’s murder and
had received threats stating that
should he make it to the west-
ern section of Her Majesty’s
Prison there was something
waiting there for him.

Mr Roberts asked that his
client be remanded to the
Detention Centre instead and
also made a request for bail.

Chief Magistrate Gomez not-
ed Mr Roberts’ objections.
Lloyd was remanded to Her
Majesty’s Prison. His case has
been adjourned to May 20 and
transferred to Court 11, Nassau
Street.

aieunac uni

Literacy Awards
presentation
ceremony is
announced

SENIOR Education Offi-
cer at the Ministry of Educa-
tion, Youth, Sports and Cul-
ture and chairman of the Min-
ister's Awards Committee
William Rahming announced
yesterday the first ever Liter-
acy Awards Presentation Cer-
emony for second-graders.

The event will take place at
the Church of God of Prophe-
cy Tabernacle on East Street
on Thursday, April 17 at
10am.

The top scorers and schools
from throughout the Bahamas
will be presented with mophies
and books.

Mr Rahming noted that the
11 top scoring students are
from the Family Islands.



US-friendly Berlusconi wins is Italy’ 3 election, heads into third stint as leader

m@ ROME

to high net worth clients
¢ Knowledge of Wealth Advisory financial solutions.
Mutual funds license or CSC (preferred)
e Financial planning designation (CFP or PFP





his business dealings.
During his last time as premier, Berlusconi
served a record-setting five years until his 2006

Italy’s stagnating economy and the unpopular-
ity of Romano Prodi’s government.
“T think it was a vote against the performance





MEDIA BILLIONAIRE Silvio Berlusconi





designation) won a decisive victory Monday in Italy’s parlia- of the Prodi government in the last two years,” | defeat. He made notable international gaffes
¢ Excellent relationship management and client mentary election, setting the colorful conserva- ._ said Franco Pavoncello, a political science pro- _as well as unpopular decisions at home, such
service skills tive and staunch U.S. ally on course to his third fessor at Rome’s John Cabot University. as sending 3,000 soldiers to Iraq despite wide-





spread opposition among Italians. The Iraq con-
tingent was withdrawn after his 2006 ballot loss,
and he has ruled out sending any more troops
there. But his friendship with the United States
is not in doubt.

Berlusconi once said he agreed with the Unit-
ed States regardless of Washington’s position.
He calls President Bush a friend, and his return
to power is likely to make relations with Wash-
ington warmer, no matter who becomes the
next American president.

“Berlusconi won because he has a strong coali-
tion and because people feel that on the other
side, the government is going to take them
nowhere.” :
This was Berlusconi’s fifth consecutive nation-
al election campaign since 1994, when he stepped
into politics from his media empire, currently
estimated to be worth $9.4 billion. He has fend-
ed off challenges to his leadership by conserva-
tive allies, withstood accusations of conflict of
interest and survived criminal trials linked to

stint as premier, according to Associated Press.

The victory in voting Sunday and Monday
by parties supporting the 71-year-old Berlus-
coni avenged his loss two years ago to a center-
left coalition.

“I’m moved. I feel a great responsibility,” he
said in a phone call to RAI public television
while monitoring election results at his villa out-

_ Side Milan. Italian news agencies said he had a
private dinner with key aides.

Berlusconi capitalized on discontent over

Alternative Dispute Resolution (ADR)

negotiation and mediation skills workshop
in Nassau, May 20-23, 2008.

“Exciting! This course provided skills to handle disputes in professional and personal
settings. The info that | learned in this course will be beneficial in my workplace.”



¢ Previous Private Banking experience required.



Response include:

e Create and manage a portfolio of High Net Worth
clients

Relationship Management and growth of long- ©
term profitable client relationships

Coordinate Annual Reviews

e Ensure full HNW enterprise value proposition is
offered at least once a year

Ensure client satisfaction, client loyalty-and client
retention

Identify client needs in order to present unbiased
enterprise solutions independently or through a
supporting team of HNW professionals



















e learn how to deal with tough bargainers
¢ learn how to mediate disputes
* receive individual coaching in mediation

Interested persons should apply by Monday,
April 21, 2008 to Elizabeth Dorsch.





Please apply to:




Elizabeth Dorsch
Royal Bank of Canada Wealth Management
PO. Box N-3024

Nassau, N.P Bahamas

Dorothy Hepburn, Princess Margaret Hospital, Nassau
1-800-389-0435 or 416-307-0007 www.adrworkshops.com




To learn more: contact@adr.ca








Via fax: (242)327-7382

i il: eli E Certificat
Via email: elizabeth.dorsch@rbc.com arLa vertticate

from the University
of Windsor Law
School when you
complete the four
day program.



RBC > HELPING YOU SUCCEED

Ka Royal Bank

RY of Canada

ORC ERC a En en eee Re Can eee eae eT)


THE TRIBUNE

TUESDAY, APRIL 15, 2008, PAGE 7





In brief

US Coast Guard
monitoring
unrest in Haiti

U.S. COAST GUARD offi-
cials are closely monitoring
events in Haiti on the chance
that recent unrest on the
impoverished island might
trigger a new wave of boat
people trying to flee toward
Florida, according to Cox
News Service.

“Our patrols are at their
normal levels, but when we
have unrest we watch careful-
ly to make sure we stay out
front of any developing situa-
tions,” Chief Petty Officer
Dana Warr of the Seventh
Coast Guard District in Mia-
mi said Monday.

So far, Coast Guard patrol
cutters and aircraft have not
spotted any signs of large
numbers of Haitians taking to
sea, Warr said.

Prices

Riots sparked by high food
prices broke out in the in the
southern Haitian city of Les
Cayes on April 3. Before wan-
ing last week, the unrest
spread to the capital, Port-au-
Prince, and other areas, leav-
ing seven dead, including a
Nigerian officer serving in the
9,000-member United Nations
peacekeeping force that has
patrolled Haiti since 2004.

The protests in Haiti come
as prices for staples such as
rice and wheat have skyrock-
eted around the globe due to
several factors, including high
demand and record fuel
prices.

Economists have warned
the situation may get worse,
possibly sparking more unrest
and even violence if desper-
ate, hungry people take to the
streets.

U.N. Secretary-General
Ban Ki-moon warned Mon-
day that the global food crisis
has reached “emergency pro-
portions,” and called for the
global community to “take
urgent and concerted action
in order to avoid the larger
political and security implica-
tions of this growing crisis.”

Protests over high food
prices have also erupted

recently:in Mexico, Nicaragua -i

and the Dominican Republic..

Elderly man attacked
by robbers in home

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

AN ELDERLY man had to
be taken to hospital following

Carmichael Road.

Police reported two armed
robberies in the area — occur-
ring about half an hour apart —
and say they believe the
break-ins were committed by
the same assailants.

Assistant Superintendent

around 11.30pm last week
Thursday, two masked men —
one armed with a handgun —
kicked in the front door of an
elderly man’s home off
Carmichael Road.

The 74-year-old man was hit
to the face before the desper-

jars filled with coins, Mr Evans
said.

The victim was taken to
hospital where police report
that he is in serious but stable
condition.

Approximately thirty min-
utes later, just before mid-





a brutal attack by armed rob-
bers who invaded his home on

Y teens preparing for an exhibition of artwork

THE Bahamas Young Women’s Christian
Association has announced that it will be host-
ing an art exhibition and sale in June featuring
works created by H O Nash Junior High School
students.

‘ In a statement issued yesterday, the YWCA
said the event will take place on Saturday, June
28 at Spm at its headquarters on the corner of
John F Kennedy Drive and Dolphin Drive.

While conducting one of the association’s
“Y Teens” sessions in November 2007, Rosalie
Fawkes; general secretary of the YWCA of
Bahamas, discovered the art room of H O

Walter Evans said that fet

Nash Junior High School.

Amazed at the beautiful work displayed'c on
the walls of the classroom, Mrs Fawkes said she
immediately invited the art teacher, Willard
Capron, to exhibit the children’s work at the
YWCA’s cultural evening held on Sunday
March 9 of this year.

The cultural evening and the exhibition
proved to be a success with the artists attending
and receiving recognition for their work.

“The wonderful thing about the cultural

», evening was that it allowed the talent of the

children to be affirmed and recognised by the

a Tone fateh nents 5 nos

THIS MONTHS TOPIC:

Cae

“SPEAKER:

Julia Lee

Registered Dietitian

Nutrition

LECTURE DATE -
Thursday, April 17th, 2008 @ 6pm

Doctors Hospital Conference room

Please join us as our guest every third
Thursday of the month for this scintillating
series of the most relevant health issues

affecting society today.

L Healthy Seniors
Dr. Angela Kunz

2.7 litre VVTI engine
automatic transmission
mp3/cd player

ate robbers made off with two

night, police said three



wider community. Members of the audience
also expressed intérest in purchasing the art-
work,” Mrs Fawkes said.

The Y-Teens also painted a colourful mural
on the wall of the YWCA’s activity centre in
time forthe cultural evening.

Y-Teens is a leadership mentoring pro-
gramme that began in 2004 and includes girls
and boys.

Due to the success of the programme, organ-
isers say, the sessions are now held during
school hours at HO Nash Junior High School
to benefit a larger number of students.

masked men — one with a
handgun and one with a shot-
gun — knocked at the door of a
35-year-old male resident of
Carmichael Road.

Dressed in dark clothing,
the thieves robbed the 35-
year-old and his friend of cash
and personal items, police
said.

They escaped the scene
heading in an unknown direc-
tion.

Police say their investiga-
tions continue.

@ DRUGS DISCOVERY

Earlier the same day,
Andros police officers discov-
ered 1,700 pounds of suspect-
ed marijuana on the island.

The officers; who were later
joined by Drug Enforcement
Unit (DEU) officers from
New Providence, were direct-
ed to the huge drug find ona
tip from the public, Assistant
Superintendent Walter Evans
said.

At around 6pm on Thurs-
day, the officers travelled to
an area in Grassy Creek,

‘South Andros where they

found a number of taped
packages containing marijua-
na, Mr Evans said.

The police say the drugs
have an estimated local street
value of over $170,000, he
said.

Information from members
of the public is reportedly aid-
ing this ongoing investigation.

The Coaching Corner
Testing, Tutoring, -
Counselling.
Behaviour and Learning
Challenges. Children,

Adolescents.
433-3954
Valerie Knowles
Licensed Child Psychologist
Appointments Only



HILUX DOUBLE CAB FEATURES:

security system Sas oS Coley

air conditioning

_ DrilsaGrant Taylor

EXECUTIVE
MOTORS LTD

~DOCTORS HOSPITAL

Healeh For Life

AUTHORISED TOYOTA DEALER

vs bres

eon Lee IE LLC Mole
e anti-lock brakes
alloy wheels

Auto Mall, Shirley Street (opp. St Matthew’s Church)
Open Mon‘to Fri 8am - 5: 30pm %
Sat 8am - I12noon

Tel: 397-1700
E-mail: execmotor@batelnet.bs
Parts and service guaranteed



Avaliabie in Grand Bahama at Quality Auto Sales (Freeport) * Queans Hwy, 352-6122 ¢ Abaco Motor Mali, Don MacKay Blvd, 367-2316


PAGE 8, TUESDAY, APRIL 15, 2008



- <== — ~ i ro



Ne Uiomeclnes

Riclisha Kelson

KEMP'S FUNERAL HOME LIMITED

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

A Memorial Service

Mrs. Una
Shepard

of Nassau, The Bahamas
who died on 13th April,
— | 2008, will be held at

i Christ Church Cathedral
, George Street,, Nassau
a on Wednesday, 16th
~ April, 2008 at 4:00 p.m.















The Very Rev. Patrick L. Adderley, Dean of
Nassau, assisted by Fr. Michael Gittens, Priest
Vicar, will officiate and interment will be in The
Garden of Remembrance, Christ Church
Cathedral. -







Mrs. Shepard is survived by her husband, Arnold
Shepard, sons, Chad and Owen; father and
stepmother, Kenneth and Sybil Treco; brother,
Tony Treco; sisters, Maria Smith, Yvonne
Cartwright, and Cheryle Themens; daughters-
in-law, Crystal and Natalie Shepard; aunt,
Elizabeth (Betty) Cole; brothers-in-law, David
Smith and Gerald Themens; sister-in-law,
Stephanie Treco; nieces, Marlene Key, Athena
Smith, Shelly Smith, Tanya Bennett and Chantel
Themens; nephews, Cliff and Brian Cartwright,
Kien Smith and Alain Themens and many other
dear relatives and friends too numerous to
mention.














In lieu of flowers, donations may be made to
Christ Church Cathedral Endowment Fund,
P.O.Box N.653, Nassau in memory of Mrs. Una
Shepard.





Arrangements by Kemp's Funeral Home Limited,
22 Palmdale Avenue, Nassau, The Bahamas.

Sn

CEVA FOX

Life is but a stopping place,
A pause in what's to be,
A resting place along the road,
to sweet eternity.
We all have different journeys,
Different paths along the way,
We all were meant to learn some things,
never meant to stay...



For some the journey’s quicker,
For some the journey’s slow.
And when the journey finally ends,
We’ll claim a great reward,
and find an everlasting peace,
Together with the lord.





C | GIBSON SR

Jana Joseph

I: 1978, under the presi-
dency of Mellany Zoni-
cle, an idea conceived by Thel-
ma McMillan, Honours Day,
was held at the Government
High School.

Three females participated,
representing schools through-
out New Providence. They
vied for the Alpha Kappa
Alpha Award and wrote an
essay to determine who the
recipient would be.

In 2008, the year of the cen-
tennial anniversary of the
Alpha Kappa Alpha Sorority
Inc and the 45th anniversary
of the local sponsoring chap-
ter, Eta Psi Omega, under the
theme, “Celebrating 30 years
of An Exemplary Scholastic
Programme,” will host the
30th annual Honours Day
Programme at the British




Colonial Hilton Hotel with 20
young women representing |

high schools in both New

Providence and the Family ©

Islands.

Each participant is a leader
in her own right as she has
been identified as the top
graduating female student at
her school.

Founder Mrs Thelma
McMillan saw the need to
recognise high school girls for
their high academic achieve-
ments, thus the birth of the
Honours Programme.

Since its inception, the pro-
gramme has grown with the
introduction of the Linda Hig-
gs-Swann Valedictorian Schol-
arship, tenable at The College
of The Bahamas, and a cash
award for the best essay.

Additionally, honorees are
now hosted to a full weekend
of fellowship, mentorship and

_ healthy competition.

This weekend, under the
leadership of first vice-presi-
dent Mrs Joyanne Archer, and
co-chairs Wendyi Poitier-
Albury and Tiffany Bain-
Saunders, the girls and their
families will be fully engaged
with activities beginning on
Friday, April 11 with a tour
of The College of The
Bahamas and a courtesy call
on the college president, Mrs
Janyne Hodder, and ending

VW CURR AL
be forgotten.

KNB eee ou It ONY
your daughter, Ethel Fox; —
grandchildren,

Desree Fox, Alexandra, Sebastian
and Nicola Lewis; and
great-grandchildren, Christyan
and Desinique Lewis.



30th ANNUAL HONOURS DAY PROGRAMME






ST ANNE’S HIGH

Kelly Johnson

on Sunday, April 13 with hon- -

orees and chapter members
attending Christ Church
Cathedral immediately fol-
lowed by the Honours Day
awards and reception. It is
during this time that recipi-
ents of the Linda Higgs-
Swann Valedictorian Scholar-
ship award and essay award
will be announced.

Over the year, participants
have had many dynamic
speakers address them and
this year honorees will receive
a message from the 16th pres-
ident of The Bahamas Union
of Teachers, Mrs Ida Poitier-
Turnquest.

Other activities of the week-
end include involvement in a
seminar by the Ministry of
Health, “Passport to Healthy
Living” and a seminar on eti-
quette on Friday afternoon.

On Friday evening, all par-

ticipants and their families will
- be hosted to a welcome recep-

tion.

THE TRIBUNE







S C BOOTLE SR QUEEN’S COLLEGE ©

On Saturday, honorees will
take the general knowledge
test and write an essay, the
results of which will determine
who is awarded the Linda
Higgs-Swann Valedictorian
Scholarship award and cash
prize respectively.

To date, through the Hon-

ours Day programme, the Eta
Psi Omega Chapter of the
Alpha Kappa Alpha Sorority
Inc has awarded over $80,000
in scholarships and prizes to
deserving young women from
both New Providence and the
Family Islands.
' In keeping with the sorori-
ty’s motto, “Service to all
Mankind,” and its mandate to
recognise and facilitate edu-
cational advancement in
Bahamian communities, the
local chapter will continue to
do its part to encourage, hon-
our and reward future leaders
for exemplary and scholastic
achievements.



AQUINAS COLLEGE



Elviann Patience

C=") [ie
Improving On Excellence!

= 1800 c0

| ¢ Automatic Transmi:
- @ ABS Brakes —

°Dual Airbags

Alloy Wheels

e Keyless Entry

¢CD Player

¢ Air Conditioning

CHM av RSA aS ae RUOn Ree Coneen Tecra
that’s fun to drive, loaded with advanced safety
eeu Casmacc lo Nese ue PALA TOC eee

SUZUKI

sexccensoancesef ey

ON-THE-SPOT FINANCING

Price includes rustproofing, licensing and inspection to birthday, full tank of fuel,
24,000 miles/24 months warranty and emergency roadside assistance.

QUALIT

auto z=
sales (2

LIMITED

#1 AUTO DEALER IN THE BAHAMAS
EAST SHIRLEY STREET * 322-3775 * 325-3079

Visit our showroom at Quality Auto Sales (Freeport) Ltd for similar deals, Queens Hwy, 352-6122
or Abaco Motor Mall, Don MacKay Blvd, 367-2916


THE TRIBUNE

TUESDAY, APRIL 15, 2008, PAGE 9



Comparing major changes
in Bahamas and Zimbabwe



m@ By LARRY SMITH

S A teenager back in

1965 I recall a
solemn school assembly at
which one of our teachers
(who was from Rhodesia) tried
to explain that African colony's
unilateral declaration of inde-
pendence from Britain.

Rhodesia was a prosperous
colony run by a stubborn white
settler named Jan Smith, who
died last November.

The country is now called
Zimbabwe, and is run by the
octogenarian Robert Mugabe,
who was Smith’s nemesis dur-
ing the war against white rule
in the 1970s.

In those days it was still big
news for a colony to actually
break from the British Empire
unilaterally - the American
War of Independence notwith-
standing.

That's one of the reasons we
were sitting in the sunshine lis-
tening to Mr Dock on that cool
November day 43 years ago.

Of course, the other big rea-
son was race, which defined
the context of the time.

This was only two years
before the Progressive Liberal
-Party's historic election victory,
which: overturned white
minority rule in the Bahamas.
In fact, integration of the stu-
dent body at my high school,
Queen's College, had only
recently begun.

Nineteen-sixty-five also
marked the height of the US
civil rights movement,-when
Martin Luther King's non-vio-
lent campaign began to be
superseded by black power
radicals like Malcolm X and
Stokeley Carmichael. After
King's assassination in 1968,

the struggle became much.

more violent.

Meanwhile, in southern
Africa, Ian Smith led a whites-
only political party called the
Rhodesian Front, which resist-
ed all efforts to extend voting
rights to the black majority. As
he once famously declared: "I

. don't believe in black majority
rule ever, not in a thousand
years."

White rule in Rhodesia was
based on property and educa-
tion qualifications for voting
that were in place when the
British introduced self-gov-
ernment in 1923.

Whites had 95 per cent of

the votes in national elections
although they were never more






than five or six per cent of the



“That the transition
(to majority rule in
the Bahamas) was a
quiet revolution was
owing to political
moderation on
both sides, with
the economically
aggressive Bay Street
oligarchy resolutely
retaining democratic
principles, and their
black opponents...
equally firmly
refraining from
violence or even
retribution."



Historians
Gail Saunders and
Michael Craton

population.

This closely resembled the
situation in the Bahamas,
where the 15 per cent white
minority occupied most of the
positions of power. The secret
ballot was not introduced here
until 1949 and plural voting
with property qualifications,
together with the disenfran-
chisement of women, contin-
ued until 1962. The effect of
these measures was to diminish
the electoral power of the
majority.

_In response, black power
movements influenced by the
highly-publicised American
civil rights struggle emerged in
both the Bahamas and Rhode-
sia, where Robert Mugabe's

Zimbabwe African National .

Union became the dominant
nationalist force.

Although most British
colonies achieved indepen-
dence in a relatively orderly
fashion during this period,
Rhodesia's defiance of the
international community and
denial of civil rights to most of
its citizens led to UN sanctions
and a bloody seven-year guer-
rilla war waged by Mugabe and
others.

Eventually, the British and
Americans were able to nego-
tiate an end to UDI in 1979,
and the following year Mugabe
became prime minister of an
independent Zimbabwe.

Smith and his party contin-
ued to contest the 20 reserved
white seats until 1987, when
they were abol-

ished. The

ZIMBABWE'S President Robert Mugabe meets with head of the African Union Observer Mission members at

Zimbabwe House in Harare, Thursday, April, 3, 2008

0.

US Sie aro poster

former white ruling party was
finally subsumed into a broad,
non-ethnic opposition, the
Movement for Democratic

Change, which came close to —

winning the 2000 elections, pre-
vented Mugabe from changing
the constitution in his favour,
and by most accounts has won
the March 29 presidential and
parliamentary elections.

n the Bahamas things

went rather differently.
The black-led PLP came to
office in January, 1967, by the
slimmest of margins, but was
re-elected in a landslide the
following year. It has often
been acknowledged that much
of the PLP's inspiration came
from the black power move-
ment in the US and the victo-
ries achieved by black majori-
ties in British colonies in the
Caribbean and Africa.

But the white regime in the
Bahamas had the common-
sense to.do the right thing and
avoid a racial war. According
to historians.Gail Saunders and
Michael Craton: "That the
transition (to majority rule)
was a quiet revolution was
owing to political moderation
on both sides, with the eco-
nomically aggressive Bay
Street oligarchy resolutely
retaining democratic principles,
and their black
opponents...equally firmly
refraining from violence or
even retribution."

The former white ruling .

group - the United Bahamian
Party - was dissolved by Geof-
frey Johnstone in 1970 and
some of its members became
part of the new Free National

°
=
°
=
7 OU
ou
<=

Movement along with a break-
away group of senior members
of the PLP.

Pindling and the PLP led the
country to independence three
years later and remained in
power for a stultifying quarter
century, finally succumbing to
the FNM in 1992.

Both parties have exchanged
places twice in the ensuing 16
years.

Similarly, Mugabe is the
hero of Zimbabwe's indepen-
dence movement and the fight
against white rule.

But at 84 he refuses to coun-
tenance any challenge to his
autocratic rule. His chief oppo-
nent is Morgan Tsvangirai, a
trade.unionist and human
tights activist who has been



Mice ccna

Pensenaa

it



arrested several times by the
regime.

It. is widely accepted that
Mugabe and his cronies are
chiefly responsible for an eco-
nomic meltdown that has
turned one of Africa's most
prosperous countries into a
country with one of the low-
est life expectancies in the
world. There is no freedom of
speech or assembly in Zim-
babwe, and the state has used
violence to intimidate and mur-
der its opponents.

According to David Coltart, ”

MDC senator and human
rights lawyer: "At the root of
Zimbabwe's problems is a cor-
rupt political elite that has, with
considerable international sup-
port, behaved with utter

* During the Ford Model Year Clearance you can experience tne best
deals of the year. Don’t miss the truly amazing opportunity to get
behind the wheel of the most stylish vehicles on the road.

Available at |

«zz» FRIENDLY MOTORS C0, LTD

THOMPSON BOULEVARD ¢ TEL.: 356-7100 * FAX: 328-6094 = smartchoice
EMAIL: friendlymotors@hotmail.com ¢ WEBSITE: friendlymotorsbahamas.com

2008 FORD EDGE

ORD TAURUS

2008 F
“ §37,300°

Mujahid Safodien-STAR/AP

impunity for some two
decades. This elite is deter-
mined to hang on to power no
matter what the conse-
quences."

White rule is no longer an
issue. But - like Pindling's PLP
- the Mugabe government
clings tightly to the rhetoric of
the past. Zimbabwe's gross
domestic product fell by &4bout
43 per cent between 2000 and
2007, and millions of its citi-
zens have fled the country in
recent years. ;

Meanwhile, Mugabe contin-
ues to wield the same authori-
tarian powers once exercised
by the white Rhodesian Front
as the country descended into
chaos under UDI. Ian Smith
must be laughing in his grave.




$37,800





3.5L V6
Automatic,
fully
ded,
with
~ leather
~ interior





















PAGE 10, TUESDAY, APRIL 15, 2008 ; THE TRIBUNE



| TUESDAY EVENING APRIL 15, 2008
| 7:30 | 8:00 | 8:30 | 9:00 | 9:30 | 10:00 | 10:30
NETWORK CHANNELS



Great Romances|Nova “Marathon Challenge” People {Once There Was a Country: Re- /Frontline “Sick Around the World”
WPBT of the 20th Cen- |from diverse backgrounds train for visiting Haiti Haiti's failing infra- |The healthcare systems of other ad-
| tury the Boston marathon. 1 structure. vanced democracies.

The Insider (N) |NCIS ‘Dog Tags” Abby risks her ca- |Big Brother 9 The veto meeting |48 Hours Mystery 1 (CC)
(@ WFOR!n cc) ie defense of a dog. (N) ( — jand competition. (N) (CC)
|

Access Holly- |The Biggest Loser (Season Finale) One contestant is declared the Law & Order: Special Victims Unit

GB WVU |wood Jessica [biggest loser. (Live) A (CC) “Undercover’ A girl is found raped
| Alba's cause. and beaten. (N) © (CC)

| Deco Drive American Idol Seven finalists com- |(:02) Hell's Kitchen A race to cook jNews (N) (CC)

WSVN pete. (Live) (CC) pete lice chickens. (N) 0

~ » | Jeopardy! (N) Accordingto [According to Dancing With the Stars One is —_|(:02) Boston Legal “The Mighty
WPLG icc} ? Jim ‘The Gitt Jim ‘The Hot eliminated. (Live) © (CC) See Shirley wants to end her
Certificate” (N) |Wife” 0 (CC) sick father's suffering. (N) 0
eho CABLE CHANNELS

| oy CSI: Miami |The First 48 “Deadly Attraction”A |Gene Simmons |Gene Simmons |Gene Simmons |Gene Simmons
A&E hree-Way’ © |man is found murdered in his bed. |Family Jewels |Family Jewels |Family Jewels |Family Jewels
(CC) (CC) (CC) ‘— |Hospitalization. |(CC) “Nail Me” (N)
Say BBC World |BBC News World Business |BBC News Earth Report /News
' BBCI ews America |(Latenight). |Report (Latenight). The bee popula-
| 5 ion.
| College Hill: At- | * THE WASH (2001, Comedy) Dr. Dre, Snoop “Doggy” Dogg. The assis-|College Hill: At- jlron Ring (N)
BET lanta Tec) tant manager at a car wash arelos his lazy pals. (cg lanta hy (CC): |(CC)
| CBC Sa NHL Hockey Eastern Conference Quarterfinal Game 4 -- Montreal |CBC News: The |NHL Hockey: West Quarterfinal - ee :
anadiens at Boston Bruins. (Live) (CC) National (CC) {Sharks at Flames S a
:00) Kudiow & |Fast Money Deal or No Deal Contestants get a |The Big Idea With Donny Deutsch ce let Cha r| ie the
CNBC ompany (CC) chance to win money. (cc} oe 3 :. Pp A
:00) Lou Dobbs |CNN Election Center Larry King Live (CC) Anderson Cooper 360 (CC) mian uU et an
CNN _foneiticd ae Ee

Scrubs Doctors |The Daily Show |The Colbert Re- Futurama Ro- /South Park The |Demetri Martin The comic per- . 7 hi Ss Ss] d elki ck De rel Pp ut
/' COM become patients. With Jon Stew- |port (CC) bots in love. 1 {boys rescue help-lforms. (CC)
A (CC) art (CC) __ (CC) less calves, | some smiles on your
DISN Ee of Peers oe Comedy) een Meare (i Tats bi ie) Mat a ti mM a 8 F
ac y Ad-| Amanda Michalka. Two teenagers try to save their fa- |Raven “Roya aven “The Par- "Not So Swee oe } f
| vice column. ther’s business. ( ‘NR’ (CC) Treatment” (CC) |ties” 16° : ki ds S ces ;
DIY This Old House |This Old House |Sweat Equity At-|Desperate Land-/Rock Solid (N) Kitchen Renova-/Kitchen Renova- ,
0 (CC) 1 (CC) tic bedroom. scapes (N) tions tions
DW Beckmann ML Mona Lisa Journal: Tages- |Politik direkt — [Journal: In Euromaxx
thema Depth
Keeping Up-Kar-

e| : ’ f)
The Daily 10 (N) [Hugh Hefner: Girlfriends, Wives and Centerfolds: The E! True Holly- |Keeping Up-Kar Keeping Up-Kar-| | | 5 YI NG yo Ur. chi Id ren to the
wood Story Playboy. © (CC) dashians dashians :

E!

ESPN |COvES0 I Reale Live (Liv) ean ele] | m Tonight (Live) (CO) McHappy Hour at McDonald's in
te a | Malborough Street every Thursday
Daily Mass: Our |Pope Benedict XVI's Apostolic Visit to the U.S. |The Holy Rosary/Threshold of Hope \

EWTN from 3:30pm to 4:30pm during the

00) Cardi Shimmy (CC) {Shi CC) [Namaste Y Namaste Y National Body Challenge Competi-
FIT TV Cae eS) penny ee) nee pr (ce) cc) aa Kev ath oas 0 oy month of A\p vil 9008.
FOX-NC Fox Report- |The O'Reilly Factor (CC) Hannity & Colmes (CC} On the Record With Greta Van
Shepard Smith Susteren (CC)

FSNFL :00) MLB Baseball Atlanta Braves at Florida Marlins. From Dolphin Stadium in Miami. Inside the Mar- |The FSN Final
Subject to Blackout) (Live) lins (N) Score (Live)

; GOLF Golf Channel |The Approach |GolfCentral — /Big Break Big Break: Ka’anapali (Season .
Academy (Live) ' Premiere) (N) E ‘i E a E
GSN Lingo (CC) Who Wants to Be a Millionaire © |Family Feud |Family Feud {Russian Whammy (CC) : Enjoy Great ood, Prizes and Lots of UN.
(CC) (CC) (CC) Roulette (CC) :
(:00) Attack of [X-Play (N) Ninja Warrior |Ninja Warrior Unbeatable ‘| Attack of the Show!
G4Tech the Show! (N) Banzuke
at) Walker, — |Walker, Texas Ranger Alex and |THE LONG SHOT (2004, Drama) Julie Benz, Marsha Mason, Paul Le ~
HALL exas Ranger _|Walker struggle to get to the court- Mat. An accident blinds an equestrian’s horse. (CC) . aL
(CC) room with the evidence. ; , ?m lovin’ if
Buy Me “Greg & |Dasigner Guys [Design Inc. An |Colin & Justin’s Home Heist “Tar- |Green Force ( |Take It Outside
HGTV __[Linda’.n (CC) |Narrow main intrusive fire- tan Terror’ George and Margaret's |(CC) 1 (CC)
floor. (CC) —|place. O (CC) |home is touristy. M (CC)
Victory Joyce Meyer: {Christ in “|Inspiration To- {Life Today With |This Is Your Day/The Gospel
INSP Everyday Life. {Prophecy day James Robison |(CC) Truth (ce)
Reba ‘Issues’ (\)NBA Basketball: Los Angeles ee at New Orleans Hornets. From the New Orleans Are- | Two and a Half
KTLA {icc rch Men 7 (C)
: Still Standing |Reba “Hello, My |Reba Reba’s pa x REDEMPTION (2004, Biography) Jamie Foxx, Lynn Whitfield,
LIF E Bill befriends Lin- Name |s ty for her clients. |CCH Pounder. Premiere. Convict Stan “Tookie” Williams becomes a No-
_ _ |da’sex.(CC) — |Cheyenne” (CC) | (CC) bel Prize nominee. (CC)
:00) Hardball + {Countdown With Keith Olber- | Verdict With Dan Abrams Countdown With Keith Olber-
MSNBC |" mone tener [eee ham
Zoey 101 |SpongeBob {Drake & Josh |Home lmprove- |Home Improve- |George Lopez {George Lopez
NICK icc} SquarePants 1 |“Sheep Thrills” |ment © (CC) |ment M (CC) {"Split eel a (cc) -~ Ne
NTV tia} House 1 |NCIS Oy Tags” Abby risks her ca- |Big Brother 9 The veto meeting |News (N) M — |News a : =
PA) (CC) reer in defense of a dog. (N) and competition. (N) © (CC) (CC) a :
Pass Time Mercedes Test Drive (N Street Tuner —_|Livin'the Low |Super Bikes! (N)/Super Bikes! |, | [iin Rei : imr > Best”
[SPEED /*â„¢ Year | ~~ ae os
fe Extraordinary /Behind the Joyce Meet John Hagee To- |Bill Gaither (CC) |Praise the Lord (CC) H Ss SF ~~
TBN Health With Jor-|Scenes (CC) {Enjoying Every- |day (CC) -
: dan Rubin day Life (CC)
Everybody Family Guy Bri- |Family Guy Pe- |Family Guy |Family Guy |The Office “Fire” |The Office
TBS Loves Raymond an fights for his ter’s dad's reli- |(CC) “Emission Impos- |Parking-lot evac- |Michael must fire
“Golf for It’ © |rights. (CC) gious beliefs. sible” (CC) uation. someone. (CC)
Greenovate |Dateline: Real Life Mysteries A |Dateline: Real Life Mysteries “Kill |Dateline: Real Life Mysteries “The
TLC “Margaret R.” (N) |man pushes a woman to her death }& Kill Again: Spokane Serial Killer’ Fans A ueiNe vanishes with
in a subway. (N) Serial killer. (N) (CC) millions of dollars.
: (:00) Law & Or- |Law & Order “Fame” Tabloid pho- |Law & Order ‘The Family Hour’A |Bones A filmmakers remains are
TNT der eet poet might have played a role in|former senator is a suspect in his found in an underground tunnel's
1 (CC) (DVS) a fatality. A (CC) (D | ex-wife's death. (CC) (DVS) ventilation shaft. © (CC)
CampLazlo —|Ben 10 Home for Imagi- |Johnny Test © |Johnny Test 1 |Courage the — /Grim Adven-
TOON [arise fet fraps (GQ) (G0) (ovat Oog_ lie
TRU Cops Son dam- |Cops Attempted |Cops “Coast to |World’s Wildest Most Shocking “Under the Influ-
ages her home. |bicycle theft. |Coast’ 1 (CC) ence 2”
:00) Toute une |Pékin express “Le Grand départ” Un homme a l'ile de Sark
TV5
:00) Abrams & |Epic Conditions |Weather Ven- | Weather: Evening Edition (CC)
Twe ;












na in New Otlearis: (Live
PDA EE bp










\









(:00) YoAmoa_ Al Diablo con Los Guapos Pasion Una historia que toma lugar |Aqui y Ahora
UNIV Juan Querendon entre piratas y ann
Law & Order: Special Victims Unit|Law & Order: Special Victims Unit/NCIS ‘The Bone Yard” Gibbs’ part- ~ + oe oe
US A - ee ete pate what looks “Obscene” 1 (CC) aA sot ee Qn of 5 : : .
ike a human sacrifice. aiding the Mafia, e 5
VH1 ed Miss Rap |The Flavor of Love 1 Rock of Love With Bret Michaels |Rock of Love With Bret Michaels els bt Sched ul Cr log ed a to
upreme (CC) Bret meets the parents. 1 Bret makes his final decision. 1

VS (:00) NHL Hockey Eastern Conference Quarterfinal Game 3 -- Washing- |Hockey Central |NHL Hockey: West Quarterfinal -
" ton Capitals at Philadelphia Flyers. (Live) (Live) Wild at Avalanche

‘ en America’s |Funniest Pets & /Funniest Pets & |Funniest Pets & |Funniest Pets & |WGN News at Nine (N) © (CC)
WGN unniest Home |People Funny [People Funny People Funny | People Funny
Videos (CC) |blooper videos. |blooper videos. {blooper videos.’ {blooper videos.

Family Guy Pe- Beuy and the Geek “Flame. Reaper “Acid Queen” Sam finds out |CW11 News at Ten With Kaity
WPIX {er ig ts city hall. Broiled Geeks” A geek loses his _|that an escaped soul plans to kill Tong, Jim Watkins (N) (CC)
A (CC) cool with one of the beauties. (N) |Andi. 1 (CC)

Jeopardy! (N) |Dr. Phil 7 (CC) News (N) Jeopardy! (CC) |Frasier Daphne |Frasier Frasier
WSBK icc} : thinks Fraser de-|wants a quiet
; sires her. —— |place to read.

PREMIUM CHANNELS

6:30) * THE — | & & FRACTURE (2007, Suspense) Anthony Hopkins, Ryan Gosling,
HBO-E _ [RETURN reg David Strathaim. A prosecutor plays a cat-and-mouse game with a dan-
1 'PG-13' (CC) |gerous suspect. 1 'R’ (

CC)
et * 4 THE] & & &% THREE KINGS (1999, War) George Clooney, Mark trad * %% CRUEL INTENTIONS (1999,
HBO-P |GOODSHEP- [ice Cube. Four American soldiers go off in search of Gulf War gold. Drama Sarah Michelle Gellar. 0
HERD 'R’ 'R’ (CC) ‘R’ (CC)
: 5) & x MESSAGE IN A BOTTLE (1999, Romance) Kevin Costner, | * THE RETURN (2006, Suspense) Sarah Michelle
HBO-W [Robin Wright Penn, Paul Newman. A woman seeks the author of a letter |Gellar. A joung woman has visions of the murder of a
that washed ashore. 1 ‘PG-13' (CC) woman she has never met. 1 ‘PG-13' (CC)

:15) & & & 16 BLOCKS (2006, Action) Bruce Wills, | % THERE'S SOMETHING ABOUT MARY (1998, Romance-Comedy)
HBO-S los Def, David Morse. A world-weary cop protects a |Cameron Diaz, Matt Dillon, Ben Stiller. A man hires a sleazy private eye
witness from assassins. 1 6-13 (CC) to find a former classmate. 1 ‘R’ (CC)

Cat * x |» READY TO RUMBLE (2000, Comedy) David Ar- |(:45) The Sec- | x * x V FOR VENDETTA (2006) 6 ~
MAX-E __|THENEGOTIA- |quette. Wrestling fans help their washed-up hero make ond Coming —_Natalie Portman. A vigilante fights a :

TOR (1998) ‘R’ ja comeback. 1 ‘PG-13' (CC) (CC) fascist government. ( 'R’ co Nac A —

M OMAX i Be ST Ek (2006, Rana corey is ers UE Drama) he oe Lindsay ee Felicity : i M ow! G ift C s fi ‘mn
indsay Lohan. A charmed woman suffers a reversal of|Huffman. An incorrigible teen goes to live with her stern grandma. 1 ‘R’ ; ‘ rt t 4
fortune. O ‘PG-13' (CC) (CC) : : 4 : : OVI Cc f e i bf Ca es
% * &, BABEL (2006, Drama) Brad Pitt, Cate Blanchett, Gael Garcia Bernal. iTV. The Tudors (iTV) Henry marries PNK Ee : =

SHOW __ [Strangers’ lives collide on three different continents. ‘R’ Anne. 1 (CC) oo es : make great gi | “
5:45) x ee | & FROM DUSK TILL DAWN (1996, Action) Harvey Keitel, George | x x DEAD BIRDS (2004, Horror) ss ; sl

TMC ISSION: IM- |Clooney, Quentin Tarantino. Fugitive brothers encounter vampires south |Henry Thomas, Patrick Fucit,
POSSIBLE Ill of the border. 0 ‘R’ (CC) Michael Shannon. 1 ‘R’ (CC)












REAL Sports With Bryant Gumbel
(NO














THE TRIBUNE





‘

@ By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

fter falling just
short in both
the GSSSA
volleyball and
basketball sea-
sons, the Doris Johnson Mystic
Marlins senior boys appear
well on their way to ending the
year with a successful run at a
championship title.

The Mystic Marlins cruised
to another win yesterday when
they decimated the C C Sweet-
ing Cobras, 13-1, yesterday at
the Blue Hills Sporting Com-
plex.

With a 12 run lead after four
innings, the Mystic Marlins
were credited with the win due
to the mercy rule.

Making a statement as one
of the league's most formida-
ble teams, Doris Johnson was
in complete command from
the game's outset in the top
half of the first inning.

Chauncey Cooper, pitching
a modified style, relied on
adept ball placement to neu-
tralise the Cobras' lineup, who
managed just one base runner
in the first.

In contrast, the Marlins teed
off on the Cobras pitching with
eight runs to take a command-
ing lead in the bottom half of
the inning.

The second inning produced

much of the same for the
Cobras, with the three up and
three down as frustration con-
tinued to mount against the
stifling Marlins’ infield
defence.
. The.Mystic Marlins-went
through their complete lineup
in the second inning beginning
and ending with lead off hit-
ter Dakyle Rolle.

Rolle finished 2-3 with two
RBI and made several key
plays at third base to halt to
limit the Cobras to few
baserunning opportunities.

With a pitching change mak-

TUESDAY, APRIL 15,

1 1







2008

ing little difference the Mar-
lins piled on additional runs
and held an 11-0 lead headed
into the third inning.

The Cobras finally reached
the scoreboard in the bottom
of the third inning on a rare
fielding error by the Mystic
Marlins.

The final inning included a
strikeout by Cooper followed
by a pair of routine ground-
balls.

The Marlins potent lineup
at the plate was led by short-
stop Ashton Anderson.

Anderson who finished 3-3
with two RBI said the team
was functioning on all cylin-
ders both in the field defen-
sively and at the plate.

"We played our game right
the way we wanted to, we just
wanted to come out and dom-
inate the infield,” he said, "We
made sure everyone commu-
nicated, especially with our
pitcher and we just kept it
steady and kept it flowing.
They thought they could out-
smart us at the plate by sitting
low to the ground and making
our pitcher throw balls but we
knew eventually once we kept
pitching inside we would win
because most of them can not
hit inside balls."

Anderson said the team has
shown tremendous improve-
ment over the course of the
year and the constant work
should result in the league's
ultimate prize.

"We have improved a lot
since we started, the outfield is
getting better every game and
the infield is looking stronger
than ever," he said, "Our
expectation is to keep playing
like this and we should get to
where we want to be in the
championship." .

Other Mystic Marlins offen-
sive leaders included Lamont .
Bullard who went 2-3, includ-
ing a triple, Tyrone Miller who
went 2-3 with three RBI and
designated hitter Walter Dean
who went 2-2.



IDE © International sports news





Pr

= Ps

Marlins defeat Cobras

Tim Clarke/Tribune staff

A successful trip to NCAA Women’s Final Four

@ By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

PATRICIA “Patti” Johnson and



EE

six players from her famed H O Nash
Lions’ junior girls basketball team
have returned from a successful trip
to the NCAA Women’s Final Four
and Coaches Conference.

And Johnson, commonly referred
to as the “Pat Summitt” of women’s
basketball in the country, said the
eight days they spent in Tampa and
Fort Lauderdale, Florida, last week
was quite rewarding for her and the
Lions.

“Thank God we came back in one
piece,” said Johnson, who showed
up at The Tribune with her squad to
showcase plaques they received.

“When we got there, the players
were allowed to get into the confer-
ence free. That was the first time that
I saw that and they went and com-
peted in the Hoop City for three
days, winning various prizes and fin-
ishing second in the three-on-three
tournament,”

On their way back home, Johnson *

said they stopped in Fort Lauderdale
where they hooked up with Bahami-
an coach Staretta Ferguson, who
allowed them to play a couple games
against the middle school in the area.

“What really happened was that
the kids got a first hand experience of
what it is to be in a number one col-
lege and what it takes to get there,”
Johnson said.

“They got a chance to speak to
various coaches, one of whom
reminded them that they have to
have their books, their Bible and
their basketball. So it was very infor-
mative. So I hope what they learn
will sink in.”

Johnson said the trip was an expen-
sive venture, but she publicly thanked
all of the sponsors who assisted her,
chaperone Torsheka Cox and coach
Sherwin Major, of Harbour Island,
who accompanied the team.

Here’s a personal assessment of
what each of the players experienced
for themselves:

e Sashana Smith, the six;foot team
captain and center, said it was great.

ee



COACH PATRICIA JOHNSON with players from her famed H O Nash Lions’ junior girls basketball team. Shown (I-r) are Sashana
Smith, Kadia Johnson, Burdecia Sands, Johnson, Khadjah Moncur, Lakishna Munroe and Randya Kemp.

“It was truly a great experience,”
said the 15-year-old ninth grader. “I
learned a lot of things and I hope
that one day I can go back and play
for the (Tennessee) Lady Vols.”

As for the Lions, Smith said they
played well and they tried to stay
focused. Her goal is that all of her
team-mates eventually make it in life.

Although she wants to play for the
Lady Vols, Smith said she was root-
ing for the Stanford Cardinals to win
the title. But she was disappointed
that “Candice Wiggins was to step
up for her team, but she didn’t.”

¢ Kadia Johnson, the 5-11 center,
said she also enjoyed herself.

“We did good. We tried our best
and it was good,” said the seventh
grader. “Most of us were focused and
some of us were not.”

Johnson said she knew that “Ten-
nessee was going to win because
that’s my favourite team.”

¢ Burdecia Sands, a 5-6 forward,
said the experience was great.

“They taught me how to play hard-

er, how to pass faster,” said the sev-
enth grader. “I hope that my team-
mates will work just as hard as I do
and we will make it to college.”

Sands also pulled for Tennessee
because “I knew they could win how
they were passing the ball and mak-
ing their shots.”

¢ Khadjah Moncur, a 5-4 point
guard, said it was a pretty good expe-
rience.

“T love how everything over there
was organized and how they worked
hard, practiced hard and how they
did so well in their school work,” said
the eighth grader. “They showed us
that it ain’t all about playing basket-
ball. As a team, I think they did great.
Some of us were focused and some
were not. But I think we did great.”

Moncur too was rooting for the
Lady Vols because “they were
focused and Candice Parker had a
back shoulder, but she stood up and
played with a lot of pride.”

' e Lakishna Munroe, a 5-9 forward,
was thrilled to be on the trip.

“T think we did well. We had a lot
of fun and they showed me a lot of
stuff,” said the eighth grader. “I hope
that I can get a scholarship, so I have
to do better in my school work.

“As for the team, I think we could
have done better. But we did okay.”

As expected, Munroe was a big
fan of Tennessee because “they just
had a good team and I liked how
they played.”

e Randya Kemp, a 5-5 point guard,
said the trip was one that she won’t
forget.

“We all got along very well and
they played together as a team,” indi-

cated the eighth grader. “I think that

really helped us out.”

Kemp, however, had her money
on the Cardinals and was disap-
pointed that they didn’t win because
she felt “Candice Wiggins was a great
player to watch.”

Now that they are back home,
Johnson said they are gearing up to

_Stage a clinic for the New Providence

Primary Schools.

‘Delegation
‘will be
present’

for BOA

— elections

process

@ By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

IT seems as if the Bahamas Olympic
Association’s elections process is not final-
ly over.

Or is it?

After attending a meeting in Beijing,
China last week, both immediate past pres-
ident Arlington Butler and current secre-
tary general Larry ‘Doc’ Davis agreed to
holding a process before an independent
body to properly ratify the newly elected
officers.

In a statement released by Butler yes-
terday, it was stated that after both men
met with Mario Vazquez Rana, president
of the Pan American Sports Association
(PASO) and president of the Association
of National Olympic Committees and
International Olympic Committee execu-
tive, and it was agreed that an assembly to
elect the new executives for the BOA will
be held on Thursday, May 8 at 6:30 p.m..

Butler further wrote that it was agreed
that at the meeting at the Nassau Yacht
Club that a delegation from the regional
PASO will be present.

The delegation, according to Butler, will
consist of Felipe Nunoz, secretary general
of PASO; Richard Peterkin, treasurer of
PASO; Lic Riardo Contreras Hernandez,
secretary general of the Mexican Olympic
Association and Dr. Julio E. Cassanello,
president of the Argentina Olympic Asso-
ciation.

“The delegation will be present for the
elections,” Butler wrote.

“This action is in compliance with the
request of the International Olympic Com-
mittee.

“The delegation of observers will make
certain that the Olympic Charter is
adhered to.”

While he agreed that a meeting took
place between himself, Butler and Rana,
Davis claimed the circumstances sur-
rounding the visit of the delegation is not
exactly as stated by Butler.

“The executives who were elected at
the last meeting are the legal executives of
the BOA and are recognised as such,”
Davis stated.

“However, in the interest of the athletes
and to avoid any international controver-
sies that might be going on, it has been
suggested that we do the elections in front
of international witnesses.”

Having being duly elected on March 6,
Davis said the executive board, now head-
ed by the Rev. Dr. Enoch Backford, will
have the option of going through the
process or not.

“We discussed a date, but it has to be
decided by the current executives and not
the past president,” Davis stated. “We see
what direction we will take, but it has to be
decided by the current executives.

“Whatever is done will be done in the
best interest of the athletes because we
really don’t want to distract them from
their preparation for the games.”

Davis said the IOC felt they acted in a
legal manner in holding the elections, but
they just want to ensure that all of the
associations and federations work togeth-
er to ensure that the process was done in
the proper manner.

“We just want a consensus for every-
body to come to a meeting and say that
they will work together for the betterment
of all of the athletes,” Davis disclosed.

While the elections are a priority, Davis
said the BOA is moving forward to make
sure that the Bahamas is well represented
at the Olympic Games in August in Bei-
jing.

As for the protests surrounding the trav-

_ eling of the torch around the world, Davis
said the IOC has assured them that all is
well and there isn’t any need for concern
among the athletes competing at the
games.

“The concerns that were voiced were
the fog and the medical commission has
announced that they have been monitoring
it and it has improved,” Davis revealed.
“So there’s no danger to the health of the
athletes.

“And with the high profile of the games,
a lot of people are trying to get their issue
in, but they are going to beef up the secu-
rity and are keeping an eye out for any of
the groups that have threatened to kid-
nap athletes and officials from the visit-
ing countries.”
PAGE 12, TUESDAY, APRIL 15, 2008

ME CC . Le

Wt
UTA



a

in two
flivisions

FIRST Baptist moved
one game closer to repeat-
ing as champions in both
the 15-and-under and 19-
and-under divisions in the
Baptist Sports Council’s
2008 Rev Dr William
Thompson Basketball Clas-
sic.

On Saturday at the Tom
“The Bird” Grant Sports
Complex, First Baptist
nipped Faith United 33-31
to snatch the 1-0 lead in the
15-and-under best-of-three
series that will continue on
Saturday.

Their 19-and-under team
followed suit by pounding
New Bethlehem 66-53 to go
up 1-0 in their best-of-three
series.

First Baptist also played
their third and final game
in their semifinal playoff
series by eliminating Gold-
en Gates in the 15-and-
under and Macedonia in
the 19-and-under to
advance to the respective
finals. —

Meanwhile, defending
champions St Paul’s and
runners-up Evangelistic
Center both moved into the
driver’s seat of the men’s -
semifinal as they look
ahead to a much anticipat-
ed rematch in the champi-
onship series.

St Paul’s turned the
tables on president divi-
sional pennant winning
Temple Fellowship 49-45
and vice president division- *

al pennant winners, Evan-
*pelistic Center clobbered
First Baptist 61-45 for their
-1-0 lead.
Game two in both of the
.men’s series will continue
on Tuesday night with St
Paul’s facing Temple Fel-
‘lowship at 7pm, followed
‘by Evangelistic Center vs
First Baptist at 8pm. If nec-
‘essary, the third and final
game will be played on
Thursday. If not, the best-
of-three final will get start-
‘ed.
_ Also on Saturday, Mace-
: donia held off St Paul’s 25-
: 22 to clinch a berth into the
‘ladies’ championship
- against the defending cham-
‘pions and pennant winning
Golden Gates. The series
‘will be played on Saturday.

First Baptist 33,
Faith United 31
: Basil Deveaux had 12
- and Rashad Knowles 11 as
First Baptist took the ini-
-tial lead in the 15-and-
: under championship. Avery
: Armbrister had a game
high 16 in the loss.

First Baptist 66,
New Bethlehem 53
Marcus Russell scored 16
‘and Delroy Rolle added 11
| in the win for First Baptist.
Tino Strachan had 16 and
Trijillo Darville 15 in the
loss for New Bethlehem.

Macedonia 25,
St Paul’s 22
Juliet Taylor and Thela
- Johnson both scored eight
and Anastacia Moultrie
added seven to lead Mace-
. donia. Latoya Rolle had a
‘ game high nine and Nikia
Dean added five in the loss.

St Paul’s 49, Temple

Fellowship 45

Harold Carter came up
with a game high 28 and
Trevor Brown added seven
to pace St Paul’s to their
opening victory.

lan Pinder scored 11 and
Edwin Burrows added 10
in a losing effort.

Evangelistic Center 61,

First Baptist 45

Marcel Mortimer came
up big with a game high 21
points and Leonardo Light-

‘bourne 14 as Evangelistic

Center took game one.

Cruz Simon had 19 and
Gamalian Rose added 11 in
the loss.







TRIBUNE SPORTS

To Knowles and Bhupathi ‘set their

rackets’ on international scene











WITH HIS DUTIES completed for the Bahamas’ Davis Cup team this year, Mark Knowles is now concentrating on his doubles combo with Indi-
an Mahesh Bhupathi (not shown) on the international scene.





Giants blow out Enforcers 84-59

COACH Perry Thompson said he was
quite thrilled by the performance of his
Commonwealth Bank Giants over the
weekend at the Pigeon Park basketball
court in Matthew Town, Inagua. :

The New Providence Basketball Asso-
ciation men’s champions added the
Bahamas Basketball Federation’s Ist
Daniel Simmons National Basketball Invi-
tational title to their collection with a 84-
59 rout over Eleuthera’s Royal Bahamas

_ Police Force Enforcers.

Michael Bain, coming off a great series
in the NPBA title run over the Electro
Telecom Cybots last month, scored 18

points and was named the most valuable
player for the championship game.

“We were excited to represent New
Providence as the champions,” Thomp-
son said. “The game was an exciting one.
They had a bigger front court than us, so
we had to apply a lot of pressure on their
guards. The whole concept was to try and
wear them down and take control in the
latter part of the game. That was basical-
ly what happened.”

The Giants, who went through the tour-
nament undefeated, also got 15 from Adri-
an Miller and 10 from John Rolle.

For the Enforcers; Michael “Banana”

Johnson lit up the nets for a game high 23
points, while University of Pittsburgh grad-
uate Doyle Hudson and Jamaal Henfield
both had 11.

In getting to the final, the Giants defeat-
ed Inagua, Cat Island and Abaco.

“The competition was good. It was far
better than in years gone by,” Thompson
said. “The out islands have really stepped
up with their level of play. It’s just a mat-
ter of experience, although we were
younger than those teams, which were
much bigger and more physical than we
were. Our experience and our quickness
pulled us through.”



m@ By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

WITH his duties completed
for the Bahamas’ Davis Cup
team this year, Mark Knowles
is now concentrating on his
doubles combo with Indian
Mahesh Bhupathi on the inter-
national scene.

Knowles left town on Sun-
day, having teamed up with
Marvin Rolle to win the dou-
bles on Saturday for the
Bahamas’ only victory in the
second round of the American
Zone II Davis Cup tie.

The Bahamas didn’t win any
of the single matches played
by Devin Mullings, Timothy
Neilly or Marvin Rolle. But
Knowles said the Bahamian
public should be proud of their
performances. é

“The younger guys did the
best they could. Unfortunately,
it wasn’t the result we were
looking for,” said Knowles,
who still holds the record for
the most victories by any
Bahamian player in Davis Cup
history.

“I think we felt that going
into the weekend, we had a
better chance of pulling off the
victory. We knew that they had
a stronger number one player,

-but they were not as strong as

us in the number two and doy-
bles.”

However, Knowles noted
that losing the two opening sin-
gles on Friday really put the
team in a disappointing posi-
tion and they had to fight even
harder to get back into the tie.

On Sunday, Knowles said if
Mullings had extended his
match a little longer with
Paraguayan Ramon Delgado,
the final outcome could have
been a little different because
the former No. 52 player in the
world started to show signs of
fatigue.

“If Devin had capitalized on
the break in the second set and
maybe try to win the second,
he would have made Delgado
work a lot harder,” Knowles
said.

“But there were a couple
calls from the chair (Umpire
Mickey Williams) that really
made a difference. But credit
to them, they came here where
it’s always difficult to win on
the road and they won.”

So far this year, it has been
an impressive run for Knowles
and Bhupathi on the ATP cir-
cuit. Prior to the break for
Davis Cup, the Bahamian-
Indian combo finished as run-
ners-up to. American identical
twin brothers, Bob and Mike
Bryan at the Sony Ericcson
Open in Miami, Florida.

At the end of the tourna-
ment, Knowles and Bhupathi
remained in second place in
the Stanford ATP Doubles

‘Race with 303 points. They

trail the team of Jonathan Erl-
rich and Andy Ram, the lead-
ers with 350 and are ahead of
the Bryans, who are in third
with 271.

After taking a week off to
recuperate and train, Knowles
and Bhupathi, who played for
India over the weekend in the
Asian area, will head to Mon-
to Carlo for their next series
of tournaments on the red clay
courts as they head into the
French Open Grand Slam.

From Monte Carlo, Knowles
and Bhupathi will travel to
Rome and Hamburg, ending
up in France.

“It’s mixed feelings going
into the Grand Slams the
defending champions,” said
Knowles, who won the title last
year with his former partner
Daniel Nestor from Canada.

“We just hope to gain some
momentum going into the next
couple of red clay court tour-
naments. I know Mahesh loves
playing on the red clay and I
enjoy it as well, so I’m hoping
that we can duplicate the same
success.”

And having won back-to-
back titles this year, Knowles
said it would certainly look
good on their résumé if they
can pick up a couple more
titles in this upcoming streak of
tournaments.

For the stories
TCU a A

Rr WEILL
on Mondays
TRIBUNE SPORTS

TUESDAY, APRIL 15, 2008, PAGE 13



Miki MM LS eee ee
«| Lakers, Nuggets win big to gain

control of their playoff fates



Pao

DENVER NUGGETS guard
Allen Iverson in action during
the first quarter of an NBA
basketball game in Denver on
Sunday. (AP Photo: David
Zalubowski)

NBA
Today

i By The Associated
Press

SCOREBOARD
Tuesday, April 15

Sacramento at L.A. Lak-
ers (10:30 p.m. EDT). A
victory by the Lakers would
earn them the top seed in
the Western Conference
playoffs and a homecourt
advantage through the first
three rounds.

STARS

Sunday

— Allen Iverson,
Nuggets, scored 33 points
to lead Denver to a 111-94
win over the Houston
Rockets.

— Hedo Turkoglu, Mag-
ic, scored 24 points with
eight assists in a 104-84 win
over the Chicago Bulls.

SO CLOSE

Allen Iverson scored 33
points and J.R. Smith
sparked the Nuggets out of
their early doldrums with a
23-point performance in
Denver’s 111-94 rout of the
Houston Rockets on Sun-
day night. All the Nuggets
have to do now to reach the
playoffs for the fifth
straight time is beat lowly
Memphis on Wednesday
night at home. Denver (49-
32) moved a half-game
ahead of Golden State for
the eighth and final playoff
spot with their rout of the
Rockets.

ROLLING

MVP candidate Kobe
Bryant had 20 points, five
rebounds and five assists
before sitting out the fourth
quarter, and the Lakers
routed-the defending NBA. .
champion San Antonio
Spurs 106-85 for their sev-
enth win in eight games.
The Lakers (56-25), who
clinched their first Pacific
Division championship in
four years and the No. 3
seed in the West on Friday
night, assured themselves
of a second-place finish in
the conference.

50-WIN MARK

. Hedo Turkoglu scored 24
points, and the Orlando
Magic beat the Chicago
Bulls 104-84 to reach the
50-win mark for the first
time in 12 years on Sunday
night. Andres Nocioni led
Chicago with 22 points and
Luol Deng added 19, but it
wasn’t enough to stop the
Magic from reaching 50
wins for the first time since
1995-96.

STRONG IN DEFEAT

Toronto’s Chris Bosh
scored 30 points in a 91-84
loss to the Detroit Pistons
on Sunday.

SPEAKING

“It’s impossible to feel
good because for three
weeks we’ve been feeling
stressed. You never play
three playoff teams in three
games in four nights in
three different cities that
had huge, huge ramifica-
tions. We survived it; we
-won two out of three, but
we’re still not out of the
woods.”

— Nuggets coach George
Karl after a 111-94 victory
over the Houston Rockets.
Denver needs to beat Mem-
phis at home on Wednes-
day night to reach the play- |
offs for the fifth straight
time.



M@ By The Associated
Press

THE Los Angeles Lakers
and Denver Nuggets took care
of the hard part, winning
important games against qual-
ity opponents to move within a
victory of clinching the top and
bottom spots in the Western
Conference playoffs.

What’s left for Los Angeles
and Denver to reach their
respective postseason goals
seems fairly easy to handle.

Led by Kobe Bryant, the
Lakers routed the defending

NBA ‘champion San Antonio.

Spurs 106-85 at home Sunday
to move into sole possession
of first in the Western Confer-
ence.

Late in Denver, the Nuggets
helped the Lakers and them-
selves, blowing out the Rockets
111-94 to move a half-game

ahead of Golden State for the -

race for the eighth and final
playoff spot in the West.

_The Lakers, who can finish
no worse than No. 3 in the
West, will earn the, top seed
and home-court advantage
through the first three playoff
rounds if they beat the visiting
Sacramento Kings (38-42)
tonight.

“It’s still our responsibility
to finish this the right way,”
Lakers coach Phil Jackson said.
“And that was our message in
the locker room after the
game. Fortunately for us, we
got some rest, got some games
on Sunday, it was Detroit 91,
Toronto 84; Cleveland 84, Mia-
mi 76; Orlando 104, Chicago
84; and Seattle 99, Dallas 95.

All the Nuggets have to do
to reach the playoffs for the
fifth straight season is beat low-
ly Memphis (22-58) on
Wednesday night at home.

Bryant had 20 points, five
rebounds and five assists
before sitting out the fourth
quarter for the Lakers.

“It was a big game for us,”
Bryant said. “It was another
step in the right direction.
Going into the playoffs is all
about momentum. Now, we
just have to take it up another
notch once the playoffs start.”

The Lakers went home after
Sunday’s game uncertain of
their status because the Hous-
ton Rockets had a chance to
overtake them for the confer-
ence title by winning their final
three games. But Houston was

_tKhrottled by Denver.

The Warriors could become
the first team to win 50 games
and miss the playoffs. To get
in, the Warriors need to win
at Phoenix on Monday night,
beat Seattle on Wednesday
and have Denver lose.

Boiujicing in ard out-of the ~

eighth and final playoff spot
for a month, no team has had
more of a roller-coaster ride
than the Nuggets, who won a
huge game at Golden State
only to lose at Utah on Satur-
day night before bouncing
back against the Rockets.
“Tt’s impossible to feel good
because for three weeks we’ve
been feeling stressed,” Denver
coach George Karl said. “You
never play three playoff teams
in three games in four nights in

' three different cities that had





ORLANDO MAGIC’S Hedo Turkoglu



Kevork Djansezian/AP

LOS ANGELES LAKERS’ Kobe Bryant (center) is fouled by San Antonio Spurs guard Bruce Bowen (left) as he drives to the basket while Tim
Duncan defends during the third quarter of the game in Los Angeles on Sunday.

huge, huge ramifications. We
survived it; we.won two out of
three, but we’re still not out of
the woods.”

Allen Iverson scored 33
points for Denver andJ R
Smith added 23.

As for the Rockets, they fell
one and-a-half games behind
Los Angeles and can still
secure the top seed in the
West, but they’re going to need
plenty of help.

Tracy McGrady was flab-
bergasted the Rockets played
so poorly with so much to play
for on this night.

“That team needed a win

‘badly and we played like it

really didn’t matter to us,” said
McGrady, who scored 16
points and was hounded by
foul trouble. “And at this point

in the season, although we

clinched, we still have to bring
it every night.”

In Los Angeles, Tony Park-
er had 20 points, seven
rebounds and five assists for
the Spurs, and Tim Duncan
added 16 points and 12
rebounds. San Antonio played
without leading scorer Manu
Ginobili, who missed his sec-
ond game because of a strained
left groin.

“Come playoff time, we’ll
have as good a chance as any-
body to do well,” San Anto-

Brian Kersey/AP



(15) drives on Chicago Bulls’

Chris Duhon during the fourth quarter of an NBA basketball game
in Chicago on Sunday. The Magic won 104-84.

nio coach Gregg Popovich

said.

SuperSonics 99, Mavericks

At Seattle, rookie Kevin
Durant scored twice in the
final 45 seconds, and the Sonics
won what could be the team’s
last game in Seattle.

The team might be playing
in Oklahoma City next season

and is putting the finishing |

touches on the worst record in
franchise history.

Earl Watson led Seattle with
21 points and 10 assists, while
Nick Collison had 18 points
and 11 rebounds as Seattle
scored the final 10 points and
handed Dallas a second
straight loss.

Dirk Nowitzki led Dallas

- with 32 points and Seattte~
native Jason Terry added 25.

Magic 104, Bulls 84

At Chicago, Hedo Turkoglu
scored 24 points, and Orlando
reached the 50-win mark for
the first time in 12 years.

Dwight Howard added 19
points even though he sat out
the fourth quarter, and
Rashard Lewis added 18.

Andres Nocioni led Chica-
go with 22 points and Luol

~ Deng added 19.

Cavaliers 84, Hear 76

At Cleveland, Daniel Gib-
son made a three-pointer and
three straight free throws ear-

ly in the fourth quarter to give

the Cavs some cushion while
LeBron James rested.

Cleveland moved closer to
the East’s No. 4 seed.

Delonte West scored 18
points, Zydrunas Ilgauskas had
14 and 14 rebounds and James
finished with 13 points, 11
rebounds and seven assists for
the Cavaliers.

Ricky Davis scored 17 points
and Daequan Cook and Earl
Barron had 13 apiece for Mia-
mi (14-66), whose dismal sea-
son is nearly over.

Pistons 91, Raptors 84

At Auburn Hills, Mich.,
Rodney Stuckey scored 18
points, Jason Maxiell had 14
as Detroit won without playing
its starters in the fourth quar-
ter.

The loss drops Toronto (40-
40) into a tie with Philadelphia
for the Eastern Conference’s
sixth seed with two games left,
although the Raptors have the
tiebreaker.

The sixth seed will play
Orlando in the first round,
while the seventh seed faces
Detroit. Chris Bosh had 30
points for Toronto.



NBA Leaders

ll By The Associated Press

¢ Through April 13
SCORING
James, Clev. 74

Bryant, LAL 81
Iverson,Den. 81

‘Anthony, Den. 76

Stoudemire, Ph. 77
Nowitzki, Dall. 76
Martin, Sac. 61
Redd, Mil. 70
Bosh, Tor. 65

Jefferson, N.J. 80

Maggette, LAC 68 ©
J. Johnson, Atl. 80
Davis, G.S. 80
McGrady, Hou. 64
Richardson, Ch. 80
Carter, N.J. 74
Jamison, Wash. 78
Boozer, Utah 79
Paul, N.O. 78
Jefferson, Minn. 80

FG PERCENTAGE
FG

Biedrins,G.S. 324
Chandler, N.O. 370
Howard, Orl. 574
O’Neal, Phoe. 322
Stoudemire, Ph. 700
Childress, Atl. 319
Smith, Minn. 297
Brewer, Utah 345
Lee, N.Y. 332
Boozer, Utah 697

REBOUNDS
G

Howard, Orl. 80
Camby, Den. 78
Chandler, N.O. 77
Duncan,S.A. 76
Jefferson, Minn. 80
Okafor, Char. 80
Odom, LAL 716
Boozer, Utah 79
Dalembert, Phil. 80
Jamison, Wash. 78

ASSISTS
G

Paul, N.O. 78
Nash, Phoe. 719
Williams, Utah 80
Kidd, Dall. 719
Calderon, Tor. 80
Davis, G.S. 80
Felton, Char. 77
James, Clev. 74
Iverson,Den. 81
Miller, Phil. 80

577

FG

784
772
704
724
700
626
417
540
501
598
448
640
640

- 539

628 .

614
697
614
704

FGA

520
595
958
544
1192
558
528

» 619

598
1276

OFF

276
229
317
235
302
254
195
194
293
213

AST

903
879
851
796
659
613
563
534
584
551

543
610
641
457

475
502
399
461
534
541
316
316
236
237
348
330
285
325
275

PCT

623
622
599
1592
587
572
563
557
555
546

DEF

868
800
592
630
589
598
612
629
539
585

2223
2303
2143
1961
1949
1805
1443
1608
1473
1805
1512
1764
1763
1398
1728
1595
1677
1679
1642

‘1683

TOT

1144
1029

865
891
852
807
823
832
798



AVG

30.0
28.4
26.5
25.8
25.3
23.8
23.7
23.0
22.7
22.6
22.2
22.1
22.0
21.8
21.6
21.6
21.5
21.3
21.1
21.0

AVG

14.3
13.2
11.8
11.4
11.1.
10.7
10.6
10.4
10.4
10.2
PAGE 14, TUESDAY, APRIL 15, 2008 TRIBUNE SPORTS

SPORTS

Z



CHINA’S SUN YE competes in the final
of the Women’s 200m breaststroke
at the World Short Course Swimming
Championships at the MEN Arena in
Manchester, England, on Sunday.

orld records keep falling at

®



Photos: Paul Thomas/AP

©

short-course championships

& By ANDREW DAMPF
AP Sports Writer



MANCHESTER, England (AP)
— Led by American Ryan Lochte
and the high-tech swimsuits, the world
records kept falling at the short-
course swimming world champi-
onships on Sunday.

Eighteen world records were set
over the course of five days at the
short-course world championships,
and 17 of them were established by
swimmers wearing Speedo’s LZR
Racer suit. Lochte led the champi-
onships with four world records.

Only three world records were set
at the last short-course worlds in
Shanghai two years ago.

“It has become somewhat the
norm,” United States coach Mark
Schubert said of the records. “But it
never ceases to be so exciting when-
ever a world record is broken.”

On Sunday, six world records were
set in 12 finals. The LZR full-body
suit has also been worn for 18 of 19
long-course world marks set since it
was introduced in February.

Critics of the Speedo suit — with
Arena and the Italian team leading
the assault — cite illegal levels of
buoyancy and call it “technological
doping” since it combines a
polyurethane layer with a layer of
normal fabric.

But swimming’s world governing
body FINA has declared twice in the
past week that there are no problems
with the space-age suit, which .was
designed with the help of NASA.

“It’s always fun to have a little con-
troversy and get people’s adrenaline
going,” Schubert said of the suit con-
troversy. “My prediction is you’re

‘

iy

Men’s 200m backstroke

going to see a lot of swimsuit com-
panies coming forth with innovations.
That’s what makes the sport fun and
interesting.”

Arena already has a new suit ready
and wanted Filippo Magnini, the two-
time world champion in the 100
freestyle, to use it in the 100 final Sun-
day. But FINA said new suits could
not be approved between heats and
finals and Magnini was promptly beat-
en by unheralded American Nathan
Adrian. +

Magnini also struggled at the Euro-
pean long-course championships last
month, where Alain Bernard set



AUSTRIA’S MARKUS ROGAN celebrates after winning the gold medal in the final of the

world records in both the 50 and 100
free in an LZR.

Claudio Rossetto, Magnini’s per-
sonal coach, said the losses are start-
ing to get inside Magnini’s head.

“Certainly these times have gotten
him a little down. But he’s handling it
well. He understands a lot of it is the
swimsuit,” Rossetto said.

Rossetto is in the unique position of
coaching athletes on both sides of the
suit debate. His other swimmer,
Markus Rogan of Austria, set a 200
backstroke world record with a
Speedo on Sunday.

“We’ve opened a new front where
whoever finds the better material has
an extra weapon,” Rossetto said. “I’m
not sure it’s right. All the records are
good, but it takes away some of the
credibility of the sport. Swimming
isn’t a new sport. Now it’s record,
record, record. It takes away from
the importance of it.”

While most of the focus behind the
world records has been on the swim-
suits, several athletes said there was
another factor in play this week.

Before finals, swimmers at the are-
na greeted the crowd by stepping
through a sliding door behind the
pool and out into a spotlight as they
were introduced one by one like box-
ers. The swimmers and crowd
embraced the idea.

“J think it’s easier to break world
records when you’re excited,” Rogan
said.

“Let’s be honest, swimming is a
boring sport. We have to go for more
showmanship. I like the way we walk
in. There was so much excitement it
didn’t even seem that difficult (to
break the record).”

Lochte agreed.

“That’s what got me going. Even
if it wasn’t my home country,” Lochte
said of the crowd. “Besides the
Olympics and the Olympic trials, I
haven’t seen this many people at a
swim meet. The more fans the bet-
ter. It creates excitement and makes
you swim faster.”





RYAN LOCHTE of the United States celebrates after winning gold in the final of the
Men’s 400m IM
THE TRIBUNE TUESDAY, APRIL 15, 2008, PAGE 15

INTERNATIONAL NEWS

VISITORS WALK along a road in front of the National Stadium,
known as the Bird’s Nest for its elaborate network of steel girders,
in Beijing in this Feb. 12, 2008 file photo.

AP Photo

Sandals Royal Bahamian Resort & Offshore Island

Invite application for the position of:

INTERNAL
AUDITOR



ay / vs i k ik ” ao be : fe ‘ % i
Applicants must posses knowledge of the application |

of generally accepted accounting principles, internal - @ 4 e@ .

control systems and computerized systems, ability and Tna In 1 to C eC ar t Ee
willingness to train, counsel and coach employees,

proven ability to create and implement project plans 4 ws @

and re-engineering of existing ways of doing business to a I i e ore t eC QO y mp 1C8
facilitate improvements in productivity as well as strong
leadership in area of responsibility.

@ By ANDREW JACOBS
i sone, & ie New York Times News
Salary will be based upon qualification and experience. | Service .
We offer excellent benefits. Interested persons should BEING — Officials laid out Bu 9 Sel 1?
ni il to: : an ambitious series of measures
submit resume by email to: on Monday that will freeze con- | y:

struction projects, slow down steel

ronarnemcane |Â¥ Expect more from your broker.

in and around the capital this sum-

Send resume to: mer in an attempt to clear the air
for the Olympics.
Even spray painting outdoors y

: will be banned during the weeks ae L.
Director of Human Resources «Peters and after epattliig events, oo. Gs ine Wi th L CF A
P.O. Box CB-13005 which begin Aug. 8. Set â„¢ ce
E-mail CMajor@grp.sandals.com Although officials initially sug- a.

. CMajor@grp.sandals.com os | gested the city’s wholesale trans-





formation would be complete long
: before the opening ceremonies,

: the announcement nonetheless

_____ cezresents the most detailed pos-
se sible plan for how Beijing might
| ROYAL BANK OF CANADA WEALTH MANAGEMENT reach its long-standing pledge to
is considering suitable applications ae stage “green games” in one of the

world’s most polluted cities. In
earlier proclamations, officials had
said that the city’s makeover

He ad of Op erations. ih would be competed by the end of

The measures announced Mon-
day include a two-month halt in
construction, beginning July 20,

* “and government directives will
force coal-burning power plants

e | Dwi dia aon ae cote 1on"\
7 : FA corporate Follow we







The gucdesefiil candidate should oat: the following
qualifications: e bene ta ns i
¢ Post Graduate degree in Business (or a related field

Atleast Soe experienée: desea rip to reduce their emissions by 30.
perations experience require ‘| percent throughout most of the

¢ Strong communication and interpersonal skills summer.
e Effective leadership and problem solving skills Officials said that 19 heavy-pol-
¢ Microsoft Office skills (Word, Excel, Power Point) luting enterprises, including steel
mills, coke plants and refineries,
Responsibilities include: . would be either temporarily moth-
Overall administration and business operations of | balled or forced to reduce pro-

duction. Gas stations that do not
meet environmental standards will
closed, cement production will

the company
Provide effective leadership to direct reports and

other staff
Manage and lead the Operations teamin | Safe wife forbidden Whether you are a new or seasoned investor,
implementing and executing strategies If Beijine’s-ai i :
Provide direction relative to the identification of | ceptably sulliedin the days leading CFAL offers the most complete brokerage
proces and Sipe iaimel rr npr rae up the games, officials said they ee ec Th B h

oblem resolution and the imp ementation of new would take “stringent steps” to
initiatives and activities curb polluting industries, although service in e Banamas.
Attainment and maintenance of established. _- they declined to say what those

measures might be. “We will do
everything possible to honor the
promise,” Du Shaozhong, deputy

procedures and overall accountability for mitigation
of operational and/or credit risk

Call us today. We'll show you how to get the most out





Assist in developing and managing the unit’s ‘ Pre j j
director of Beijing’s Environmen- of our inves nts :
business and financial plan to ensure growth tl - De atection Bureat, gaid'during bd tme by getting the most out of us
a news conference. “Just tell ,
Interested persons should apply by Monday, everybody they don’t have to wor-
April 21, 2008 to Elizabeth Dorsch. 2”
‘ Some Olympic officials and ath-
Please apply to: : | letes remain unpersuaded,
Although the government has
Elizabeth Dorsch “| made notable strides in reducing
Royal Bank of Canada Wealth Management ee ee
RO. Box N-3024 sta) aonres in car ownership has :
as
Nassau, N.P Bahamas : _ | erased many of those gains. There Cc FAL
. are about 3.5 million vehicles j iog j
Via fax: (242)327-7382 choking Beijing’s roadways, with Brokerage 6 Custodial Services {postin Corporate Advisory
Via email: elizabeth.dorsch@rbc.com about 1,200 new cars joining the Pension Administration | Shareholder Services
peg aafeadeepuharnn an Nassau - T: 242-502-7010 | F: 242-356-3677
anit GGSE likely be repeated this Freeport - T: 242-351-8928 | F: 242-351-4050
Ne summer, the authorities forced info@cfal.com | www.cfal.com
\ OMG IMStiilGeee « more than-half the Beijing’s cars ez
RBC of Canada and trucks off the road. Officials »

said that they would present plans
to restrict traffic at a later date.



Our wraps are made with tender,
center cut chicken breast.

s





1 | INSURANCE MANAGEMENT

(BAHAMAS) LIMITED. IN SURANCE BROKERS & AGENTS









“Today Wednesday WINDS WAVES _VISIBILITY. WATER TEMPS.





















High =Low W High Low W WASSAU = Today: NW at 20-30 Knots 3-6 Feet 7-10 Miles 77°F
. _ FL F/C 2 FL F/C Wednesday: NW at 12-25 Knots 3-5 Feet 7-10 Miles 77° F
“Acapulco ————sC8G/B. 72/22 po = BB/B1 74/23 PC FREEPORT Today: NW at 20-30 Knots 5-8 Feet 7-10 Miles 77°F
Amsterdam = = SO/10 36/2 sh = SO/10 35/1 pc Wednesday: N at 15-30 Knots 5-8 Feet 7-10 Miles 77°F
; “Ankara, ee ens a s sre : 2 pe ABACO Today: NW at 20-30 Knots 5-8 Feet 7-10 Miles 77°F
Windy with sunshine Partly cloudy, bree Partly sunny and Sunny and beautiful. Plenty of sun. Mostly sunny and The higher the AccuWeather UV Index™ number, the Athens es 52/11 pe OE 93/11 s Wednesday: NNW at 20-30 Knots 7-9 Feet 7-10 Miles 77° F
acon clouds. vad vod . brea. : : plesaant i greater the need for eye and skin protection. rAuckland’= 72/22 | BSN7 tt 68/20 262Gb =c
‘ / High: 79° High: B1° High: 81° High: g2° Bangkok 95/35 81/27 t 98/36 81/27 pc
. . 75/23 pe 84/28 75/23 pe
- Low: 63° Low: 66° Low: 68° Low: 70° Low: 70° . eee





AccuWeather RealFeel crue laced AccuWeather RealFeel

AccuWeather RealFeel

4718 s 58/14 49/9 c




















81°-67° F 82°-68° F 83°-69 a : : SO/2° Ss rifeo.- Salle pe
| B1-67°F |] § | 82°-68° F Pas-69F “7121 s 72/22 63/17 s
The exclusive AccuWeather RealFeel Temperature? is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure, and Today 4:57am. 2.6 “TH: :03 a.m. 0. 2 BTR ‘ - “5T she
: elevation on the human body—everything that effects how warm or cold a person feels. Temperatures reflect the high and the low for the day. 5:21 p.m. 2.6 11:29p.m. 0.2 32/0 sh
; nesdayoo! am. 2.6 52am. 0.2 Rn Tes aw
me Ye12 pm. 2.8 = ----- : 47/8 +
Statistics are for Nassau through 2 p.m. yesterday Thursday 639am. 26 12:22am. 04 ‘Brusséls i 32/0 Sh : : - a
: ABACO : Temperature 6:57 p.m. 2.9 12:35p.m. 0.1 45/7 sh / —~: hg P Ee winby
High: 70° F/21°C ea 84° F/20°C Friday 72tam. 26- 109am. 01 ae = rs ) ; cr
Low:62°F/17°C us ee 738 p.m. 3.0 1:15pm. 0.1
Ww: 62° F/1 NOMMANRIGH: ssiscrcosutietininesnesnt BI? MOTO © cata Sai
be: Normal lOW oot eeeeestesteseeeeeeeeees 09°? F/21° C 29)-1 c
WEST PALM BEACH Last year's Nigh ..cccscsssccssseuseee sess, 85° F/30° C 16 po
> High: 72° F/22°C Last year's OW ou... versace 74° F/23° C
=Low: 55° F/13°C Precipitation Sunrise......6:47a.m. “Moonrise .
As of 2 p.m. yesterday wo... svt 0.29" 7:33 p.m. Moonset
: VOAl MO Cate esas tssccesscssssctlisscosesvtssssestiecssseas O1OO) New I
Normal year to ALG: ie nssssnsssscsestecsecessenieerenss O09" 50/10 eth pe
AccuWeather.com
Forecasts and graphics provided by ® Showers
ELEUTHERA AccuWeather, Inc. ©2008 Apr. 28 = May5 ee 28 78/250" 26 pe T:storms
High: 78° F/26° C . Rain :
77° ER Low: 67° F/19°C “stan , lope Flurries Shown are noon positions of weather systems and
77° F/25 . ‘ : : : : : Snow precipitation. Temperature bands are highs for the day.
63° F/17° : a Ice Forecast high/low temperatures are for selected cities.
KEY WEST CAT ISLAND | ) natin 1a
High: 73° F/23° C High: 78° F/26°C aq sh 21 38/8 sl
Low: 64° F/18°C Low:65°F/18°C
= _ &



on

AUTO INISURANC

GREAT EXUMA SAN SALVADOR Montreal on ee Batt S62 -p0 cy of
Low 6 FAC High: 82° F/28° C Mosc | 500 &
Shown is today's weather. Temperatures are today's ANDROS | ow: 70° F/21°C ‘Nairc
highs and tonights's lows. High: 80° F/27°C
Low: 69° F/21°C












Today Wednesday Today Wednesday Wednesday = MAYAGUANA
High Low W High Low W High Low W High Low W High Low W High Low W High: 90° F/32°C
FC FIC FC FC FC F/C FC OFC ce F/C Low: 73° F/23°C
Albuquerque 78/25 46/7 $s 73/22 42/5 s Indianapolis 61/16 40/4 s~ °72/22 49/9 s Philadelphia’ ” ot
Anchorage 41/5 25/-3 sf 41/5 24/-4 pe Jacksonville 66/18 40/4 pe 68/20 41/5 s Phoenix -
Atlanta ~~ 60/15" 38/38 s 70/21 45/7 ss Kansas City 69/20 51/10. s > °72/22 53/11 pe _—Ss=Piitttsburgh

Atlantic City 56/13 31/0 s 64/17 40/4 s Las Vegas 80/26 a s 72/22 52/11 s Portland, OR











. eo
Baltimore =» 60/15. 32/0 's 69/20 40/4 ss —sLittle Rock) 68/20" Raleigh-Durham’ 60/1 s- ene m3 ‘
Boston 5412 37/2 s 6116 42/5 s Los Angeles 68/20 53/1 me 75/23 55/12 _ ve St. Louis 68/20 46/7 77125 sat : ; i UpaTRaT eas 85/29 74/234” :
Buffalo 52/11 33/0 ss 63/17 43/6 s” Louisville 637 415 8 - 75/23 © Salt Lake City” . GREAT INAGUA Tol 69/20 56/13 pe Lt ' ’ ve MANAGEMENT f
Charleston,SC 64/17 39/3 pce 67/19 43/6 s Memphis 68/20 45/7 s 79/23 54/12 s San Antonio 74/23 57/13 High: 89° F/32°C rae 4 G26 A one oe Aa
Chicago = SONS 49/6 S701 48/7 ss Miami nanan ateeienannesas $s San Diego 67/19 54/1: tees ini OY Luli.) (SAHAMAS) LIMITED. INSURANCE BROKERS & AGENTS
Cleveland 54/12 35/1 s 66/18 44/6 s Minneapolis 70/21: 47/8 ~s-. 62/16 40/4 to San Francisco Se aa side [23 ye yay BIA» Aye
Dallas 70/21. 5412 s 77/25 60/15 's Nashville 62/16 38/3 s 7222 467 s Seattle f tH a ‘ FrAVl Flouthera yum
Denver 78/25 34/1 s 39/3 27/-2 + New Orleans 69/20 49/9 s 74/23 60/15 s Tallahassee 65/18 “38/3 S 74/23 40/4 S : _* varsaw aaa 3 3) aA - Be
Detroit > $8/14 38/3 s 69/20 46/7 's New York 57/138 48/6 ss 68/20° 48/8 ss Tampa 70/21 49/9 “pe 75/23: SE 2 Winnipeg 62/16 40/4 c 52/1 34/1 ¢ ALE Ie (241) 332-1862 if (247) 336-2304
Honolulu 83/28 70/21 pe 82/27 71/21 s Oklahoma City 72/22 52/11 s 73/22 56/13 pe Tucson 92/33 59/15 s 82/27 52/11 s oe



:S- , pe-partly cloudy, e-cloudy, sh-showers, t-thunder-
Houston 2 75/23-538/1t so. 7725-687 Ss — Orlando 67/AGee46/F pes 78/22—54/12—po —-~ Washington, DC 60/15 40/4 s 69/20 45/7 5 Weather (W): s-sunny, pe-partly cloudy, ¢-cloudy. r

storms, t-rain, sf-snow flurries, sn-snow, i-ice, Prcp-precipitation, Tr-trace fae et ena ne eT ETE vein (SAD RATS


TUESDAY,

PS:

APRIL



15,



Tribune Business Editor

ore than $100 million
in Bahamian dollar-
denominated financ-
ing will have to be
_raised to fund the
Lynden Pindling International Airport
(LPIA) redevelopment, the Airport
Authority’s chairman yesterday
addressing concerns harboured by
Bahamas-based financial institutions
by saying they would have “great
opportunities” to participate.

Frank Watson, responding to fears
raised by Bahamas-based commercial
and investment banks over an ‘exclu-
sive agreement’ the previous adminis-
tration and Airport Authority Board
had reached with global giant Citibank
in relation to the airport project financ-
ing, admitted that there were “con-
cerns” over that arrangement.

“The position is that in the agree-
ment signed with Citibank, they oper-
ate in the role of adviser [to the $400
million financing] as well as arranger,”

i

Airport needs 4
of iad in BS financing

@ By NEIL HARTNELL



ROYAL SFIDELITY

Money at Work

NASSAU OFFICE
(242) 356-9801

FREEPORT OFFICE
(242) 351-3010

- Lotal financial institutions ‘eager to get into the ring’, as Airport Authority chair says ‘great opportunities’ for their participation
* Watson admits ‘concern’ on lead financing deal PLP signed with Citibank, saying adviser/arranger agreement shuts out any alternatives
* Airport financing targeted to be in place by June, with construction to start ‘later this year’

Mr Watson told The
Tribune. ae

“That is something §§
that continues to give
us concern. The deal
is signed, though, and |
our Board members
as well as the Nassau
Airport Development
Company’s (NAD)
financial officers have
been‘ discussing with
Citibank that particular issue to deter-
mine the extent to which Citibank
might relent, to some extent, to permit
another group to do some, if not all,
the arranging for the loan.”

Mr Watson effectively confirmed
reports reaching The Tribune that
Bahamas-based financial institutions

were becoming increasingly uneasy —

over whether they would be able to



participate in the airport financing, giv-~

en the arrangement with Citibank,
which many had perceived as a ‘lock
out’ giving the global financial institu-
tion the exclusive responsibility to
finance the critical infrastructure pro-

ject.

The Tribune understands that Prov-
idence Advisors, CFAL and Royal
Fidelity Merchant Bank & Trust have
all written to the Government express-
ing their concerns over the issue, and
noting their interest and willingness to
participate in providing financing.

The position, though, is that the

agreement signed with the former

Christie administration stipulates that
Citibank will have the lead role in
forming the syndicate of lenders that
will provide the collective $400 million
loan for the project. This is not the
same as an ‘exclusive’ on the financing.

~However, given that Citibank will
also be acting as financial advisor to
the financing, The Tribune understands
that both the current government and
Airport Authority Board feel the
agreement negotiated under the for-
mer Christie administration was not in
the Bahamas’ best interests. .
There are also likely to be penalties
included in the agreement that would
be triggered should it be terminated

_ by one side or the other, something

that could add to the Government’s
and taxpayer’s financial burden should
they be the ones to exit.

As a result, private sector sources
said negotiations with Citibank were
ongoing, but the bank was proving
hard to shift from the original position
spelt out by the agreement.

Mr Watson said of the agreement
signed under the former PLP adminis-

Rum Cay developer 82% public school maths

to start Phase One
work on July

” gf By NEIL HARTNELL

Project to include

UP to 82 per cent of Bahami-
an public school students who

‘illiteracy’ harms economy FF

@ By NEIL HARTNELL

* Researcher says Bahamian education woes will-lead to
Tribune Business Editor

over-reliance on expatriate labour and social tension
* Up to 59% of 2006 BGCSE maths candidates

tration: “It really doesn’t give us the
opportunity to look at other alterna-
tives.”

He did, though, confirm that what-
ever financing was arranged for the
$400 million LPIA redevelopment was
likely to take the form of a syndicated
loan.

Mr. Watson, the former deputy prime
minister under the first Ingraham
administration, confirmed that the $400
million would include both US$ and
Bahamian$-denominated tranches.

The plan, he added, was that the
US$ foreign currency borrowing would
fund the purchase of construction
materials, goods, supplies and other
needed services from abroad, while
the Bahamian$ component would cov-

SEE page 5B



Tribune Business Editor-~

THE developer behind the
$700 million Rum Cay Resort
Marina yesterday told The Tri-
bune it has “every intention” of
starting Phase I infrastructure
work at the Sumner Point Mari-
na on July 1 this year, as it pre-
pares to launch a Founders Pro-
gramme for its main develop-
ment this week.

Michael Farrant, Montana
Holdings’ chief operating offi-
cer, said the developer
remained “hugely positive”
about the Rum Cay project
despite the global credit/liquid-
ity crunch and general econom-
ic downturn, having secured
additional financing to take the
development forward.

Mr Farrant said Montana
Holdings was seeking 40
founders to kickstart sales of

beachfront lots at its main 897- .

acre site on the southern coast
of Rum Cay. The developer
also plans to build a clubhouse
there as part of the Phase I
infrastructure works.

“We are releasing the
Founders Programme at the
end of this week,” Mr Farrant
told The Tribune. “We are
improving operations down
there, and are looking to start
on July 1 at the Sumner Point
Marina and any of the founders
who want to build homes [at
the main site].”

Sumner Point marina
upgrade, with Founders
Programme for main
897-acre site to be
launched this week

Montana Holdings acquired
the Sumner Point Marina from
American investor Bobby Lit-
tle, although that transaction
has yet to close as final govern-
ment approvals are still awaited.

“We need to finish closing
with Bobby Little and the land
options. Everything looks great
and we just need to finish that
off,” Mr Farrant told The Tri-
bune.

“Government approval is not
in yet, but we don’t foresee any
issues with that. It’s an existing
marina and all we’re doing is
upgrading it. We already have
subdivision approval.”

Mr Farrant said that among
Montana’s Phase I plans for the
Sumner Point Marina were to
straighten out some of the edges
in the harbour, dredge the mari-
na to a depth of 12-13 feet,
building out the breakwater to
ensure marina depth is main-
tained, and “improving the
existing docks and increasing
their overall number”.

SEE page 5B

CABLE BEACH #1617 Luxury beachfront 5 bedroom 4 bath
home with panoramic sea views of Cable Beach. Self-contained guest

"quarters in the Main house, 3-car garage with spacious 2 bedroom
guest aparment above. Pool. US$3,600,000. ExcLusive LIsTING.
Richard.Sawyer@SothebysRealty.com 242.424.9792

* |
Damianos |

SIRbahamas.com

t 242.322.2305

Sothebys

INTERNATIONAL REALTY

f 242.322.2033



sat the BGCSE maths exam in
2006 “may. not meet” basic
international literacy standards
in the subject, a researcher has
warned, adding that this
nation’s-education failings will
lead to slower economic growth
and over-reliance on foreign
labour.

In his latest research paper
on the Bahamian education sys-
tem, Bahamas-based economist
Ralph Massey, who helped to
research the Coalition for Edu-
cation Reform reports, satd this
nation’s level of academic
achievement - as measured by
the annual BGCSE results -

may not be at global literacy standards

* Says lasting, successful reforms will take 20-30
years, but produce 36% GDP growth return

* Current education results mean Bahamas
viewed as ‘developing country’

meant it should be classed as
“a developing country”.
Analysing the 2006 BGCSE
maths grades produced by. the
1,582 students from seven New
Providence public schools who
sat the exam, and 794 students
from the island’s 13 private
schools, Mr Massey said only 2

per cent of public school can-
didates earned ‘A’ and ‘B’
grades.

Based on the eight-grade
BGCSE grade system, from ‘A’
to ‘U’ or ungraded, Mr

SEE page 4B

Drive a Honda Fit and get up to
40 miles per gallon









ise } > od 1 ~~ i y % | 4
Ee ea ae SP ie ie |

= = a. » X | " t

i: Po you. know Where -
, | ~~ + your stocks, bonds, and
| ends are? :





ora A a FIDELITY EY te) 43.713 Eccl e

Peers eke aT rent Teer

att / sell stocks, bonds, Me eats Saree
GoM hee Raval Match

CR shai) aria) Petia ee ese

e Benefit from professional expertise and objectivity

Royal Ceti a Brokerage Accounts

ROYAL BFIDELITY

royalfidelity.com
Money at Work

De
Nassau: 356.9801 © Freeport: 352.6676
PAGE 2B, TUESDAY, APRIL 15, 2008

THE TRIBUNE



Rising energy, food costs make for a difficult 2008

IN this column on August 23,
2005, I wrote: “However, we
caution that if oil remains at
current levels for too long, it is
only a matter of time before it
becomes a drag on our econo-
my through higher domestic
prices (inflation) and/or reduced
tourist travel.

“For instance, the fuel sur-
charge on our BEC bill is a
mechanism that allows an
immediate pass through of high-
er oil prices; the transportation
sector, which includes shipping
and ground transportation such
as taxis and buses, will be agi-
tating to increase prices, and
don’t forget that oil is a critical
cost component of most manu-
factured goods.

“As a nation we need to start
considering initiatives to

encourage greater use of alter-
native energy sources. I am told
that in the most recent Budget,
customs duties on solar panels
were eliminated (or greatly
reduced).

“If this is so, it is certainly a
step in the right direction, but
let’s go further and reduce cus-

. toms duty on hybrid cars, wind

turbines, industrial recharge-
able batteries and the like. We
need to start thinking about
these things now and not when
oil reaches $100 per barrel.”

Now that oil has settled
around $100 per barrel, what is
our national plan?

Why is the price
of oil so high?

There are several reasons

OG naar a Acie Ty

GET MORE FOR LESS



why the price of oil is so high.
At an energy conference in the
United Arab Emirates in Janu-
ary 2008, John Browne former
chief executive of British Petro-
leum (BP), said: “High oil prices
are well supported by a,num-
ber of factors, including tight
global inventories, leaving lit-
tle reason to expect prices to
ease much.”

Another related factor is that
Iraq, a major oil producer, still
has not been able to bring its
production capacity back to pre-

Leaders in food distribution for retail and club packs are accepting applications for the

position of:

PRODUCE SUPERVISOR
The Job & Requirements

To manage all aspects of the daily operations on a profitable basis. Must

have a

tm understandin

of Produce Purchasing, Standard Operating

Procedures and Merchandising. Must have past success in managing
loss and damage. Possessing excellent_communication skills with proven
ability to build teams. Proficiency in Excel & Word programs is required

with a minimum of 3 - 5years experience in Produce Management

We offer Great Benefits:

Growth & Advancement within the organization
A salary that will commensurate with experience
Group Medical & Pension Plans

Employee Discounts
Profit Sharing

A Supportive team environment .

Interested persons should send their resumes to

hr@abacomarkets.com



NOTICE

Tenders are invited for the purchase of the following:

“ALL THAT piece parcel or lot of land in the Subdivision called and
known as “EASTWOOD? situate in the Eastern District of the Island
of New Providence and being Lot Number Twenty (20). Situated
thereon is a Single Family Residence with Four(4) Bedrooms and
- Two(2) Bathrooms Entry Oye Living Room, Dining Area, Family

Room, Kitchen.

Property Size: 9,000 Square Feet.

This property is sold under our Power of Sale contained in
a Mortgage dated 27th February 2006 .
forwarded in writing in a sealed envelope, addressed to the Risk
Manager P.O.Box N-3180, Nassau, Bahamas and marked “Private

& Confidential’.

All offers should be

Bids addressed in the above manner may also

be faxed to 393-6127. All offers must be received by the close of
business 5:30pm, Friday, 31st May 2008.

The right is reserved to reject any or all offers. |



war levels, while the Organi-
sation of Petroleum Exporting
Countries (OPEC) seems to
have its members under control
as it relates to production out-
put. In fact, at the same confer-
ence, US energy secretary Sam
Bodman pointed to low oil
inventories, as he repeated a
plea for OPEC oil producers to
boost output.

Finally, basic demand for oil
is at an all-time high. Brazil,
Russia, India and China have
emerged as prolific consumers
of oil and basic commodities in
the past decade, thus pushing
up costs substantially.

Alternative Energy Sources

Many persons believe, at least
in the short-term, that the first
option is the widespread use of
‘blended fuels’ such as ethanol.
According to the US Depart-
ment of Energy, ethanol is a
renewable transportation fuel
primarily made from starch
crops, such as corn. It is also
made from sugar beets and cane
or cellulosic materials, such as
fast-growing trees and grasses.
Nearly one-third of US gaso-
line contains ethanol in a low-
level blend to reduce air pollu-
tion.



- Check that Cheque

out of accepting
cheques at your

Cheque Verification & @Collection Services

Kel wit:

2A Dewgard Plaza Madeira Street

Ethanol fuel is the same type
of alcohol found in alcoholic
beverages, and it can be used
as a biofuel alternative to gaso-
line. It is widely used in cars in
Brazil, and increasingly so in

the US. Because it is easy to .

manufacture and process, it is
steadily becoming a promising
alternative to gasoline through-
out much of the world.

Most cars on the road today
can run on blends of up to 10
per cent ethanol, and the use of
10 per cent ethanol gasoline is
already mandated in some US
cities.

Unintended Effect

In economics, there is some-
thing called ‘unintended eco-
nomic effects’. The increasing
use of corn crops to produce
ethanol is causing farmers to
produce their crops for the
ethanol industry, as opposed to
selling it into the general food
supply chain. In my last pub-
lished column I expressed my
shock upon learning that the

price of many basic agricultural.

crops had increased substan-
tially over the past year alone.

So, while on one han, society
is trying to reduce its depen-
dency on imported oil by the



Take the risk





Business




use of alternative energy and
‘blended fuels’, the diversion of :

crops from the food supply::

chain to produce biofuel is caus- !

ing the price of basic food items
to increase.

Two additional reasons why
the cost of food is increasing
are: a) Demand is rising rapidly,
particularly from China, where
the emphasis is on industrial
output as opposed to farming;

and b) There have been weath- :

er shocks in various parts of the
world - drought in Australia,
for example.

What does this all mean
for the Bahamas?

The Bahamian economy will
undoubtedly be challenged in
2008. The rosy economic
growth picture that was being
widely projected as recently as
six months ago by economic
observers (me included) will

now have to be revised down- ,

wards.

The prospect of rising food
prices and exorbitant energy
costs makes for a difficult out-
look for the reminder of this
current year, unless we can get
foreign investment flowing once
again. In the interim, we would
suggest that everybody volun-

tarily start the process of ‘belt- ‘

tightening’ in order to cushion
the impact of higher oil and ris-
ing food prices. It is never
easy...but it is necessary.

However, for those with cash
or access to funding, and a long-
term vision, there could be
many opportunities. Until next
week...

NB: Larry R. Gibson, a Char-
tered Financial Analyst, is vice-
president - pensions, Colonia!
Pensions Services (Bahamas),
a wholly-owned subsidiary of
Colonial Group International,
which owns Atlantic Medical
Insurance and is a major share-
holder of Security & General
Insurance Company in the
Bahamas.

The views expressed are
those of the author and do not
necessarily represent those of
Colonial Group International
or any of its subsidiary and/or

- affiliated companies. Please.
_ direct any questions or, com-,,

ments to rigibson@atlantic-
house.com.bs -

VACANCY FOR THE POSITION OF:
EXECUTIVE ASSISTANT
MAJOR COMMERCIAL BANK

Core responsibilities:

e Administers incoming phone calls and mail from both internal and
external customers by receiving, screening, and dispatching calls,
and drafting responses or referrals to mail.
Prepares PowerPoint presentations when requested by the

Supervisor

Records and prepares minutes for meetings chaired by Supervisor,
by using a laptop computer/shorthand during meetings.
‘Serves as the Assistant Secretary to the Bank’s Board of Directors
in the absence of the Executive Assistant.
Serves as the Information Bank (IB) Manager for the Bank’s
. online services in the absence of On-line Banking Co-ordinator.
Compiles, prepares and maintains numerous internal Bank and
branch documents and reports.

Performs other secretarial duties as required.

Knowledge, Skills and Abilities:

Associates Degree and Certified Professional Secretary Rating, or
Certified Administrative Professional Rating
Knowledge of Bank policies, procedures, services and terms.

Oral and written communication skills, including etiquette and

writing skills.

Ability to treat information with confidentiality and

professionalism.

Detailed knowledge of computers to use Bank’s network and its
core banking applications to complete correspondence

Benefits

include:

Competitive salary

with

commensurate

experience and qualifications; Group Medical (includes dental and

vision) and Life Insurance; Pension Scheme.

Interested persons should apply no later than
April 30", 2008 to:

DA 62063B

c/o The Tribune

P.O. BoxN3207

Nassau, Bahamas


THE TRIBUNE

TUESDAY, APRIL 15, 2008, PAGE 3B



Port purchaser: Immigration changes only with consensus

A POTENTIAL Grand
Bahama Port Authority
(GBPA) purchaser said it
would only seek a change to the
Bahamas’ Immigration laws and
policies if Freeport businesses
and residents felt this was nec-
essary to “propel the currently
flailing island into the industri-
al and financial centre the
Hawksbill Creek Agreement
was created to promote”.

Roddie Fleming, principal of
Fleming Family & Partners, said
that if the private wealth man-
agement and private equity
group was successful in its bid to
acquire the GBPA and Port
Group Ltd, it would not
attempt to impose its own immi-
gration policy for the Global
Economic Gateway free trade
zone it initially proposed to cre-
ate in Freeport.

In a statement, Fleming said
concerns expressed in some
newspapers over its plans had
“only managed to only further
intimidate those who are
already fearful of investing in a
Freeport with its current
depressed economy.

“In fact, the assessments
being made to seek out local

opinion indicate to date that
many on-island companies rate
immigration as one of the key
factors causing their inability to
change strategies quickly, their
difficulty in moving forward
with new projects and a loss of
work productivity due to
bureaucracy.”

Fleming added: “If Fleming
ever seeks to ask for permission
to change or amend current
immigration structures, it would
only do so if any such applica-
tions were conclusions flowing
from a local consensus that any
such change was an agreed, nec-
essary - and probably tempo-
rary - policy that would be a
key factor needed to propel the
currently flailing island into the
industrial and financial centre
that the Hawksbill Creek
Agreement was created to pro-
mote.”

Mr Fleming said his company
was obtaining expert reports

and opinions it hoped would

assist them and Grand Bahami-
ans to compete in the world
marketplace on firm footing.
He added that his advisors
eventually agreed that immi-
gration was a possible future

issue “that had to be at least
acknowledged and not ignored
when considering all options to
kick start and then successfully
propel Grand Bahama for-
ward”.

The release said Mr Fleming
was personally funding the first
of many strategic economic and
manpower impact assessments
on the island.

“These assessments will not
only rely on quantitative facts
from leading economic consult-
ing firms in Nassau and the US,
but most critically from input
collected by the on- island team
that is collecting public feed-
back,” Fleming said.

“Any such forward-planning
exercise would be unrealistic
and defective if the on-island
interview process did not specif-
ically include the sensitive immi-
gration issues.’

Fleming said an initial report
made for it, which was then
passed to the Bahamian gov-
ernment, was an initial overview
that was thoroughly, but quick-
ly, done to assist in the purchase
procedure.

It needed to be backed by
more in-depth impact assess-

Butterfield Bank’s loan portfolio grows 205.1%

B By NEIL HARTNELL
Tribune Business Editor

BUTTERFIELD Bank’s
Bahamian operations saw their

loan book grow by 205.1 per:

cent to $41 million in 2007,
something its Bermuda-based
parent said reflected “strong
demand” for its international
mortgage product.

The bank’s 2007 annual
report said its Bahamian opera-
tions, comprising the private
wealth management functions

of Butterfield Bank (Bahamas)
and Butterfield Fund Services
(Bahamas) fund administration
capacity, saw total assets under
administration increase by 40
per cent in the 12 months to
December 31, 2007, to $5.447
billion.

Butterfield Bank said: “Our
Bahamas businesses experi-
enced good growth during 2007,
building on the success of 2006.
Our profile was enhanced, and
grew locally and internationally
through focused business devel-

NOTICE

NOTICE is hereby given that LUCIA SAIN PINDER OF
8 WOODS RODGERS DRIVE, 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 15th day of
APRIL, 2008 to the Minister responsible .for .Nationality.

and Citizenship, P.O.Box N-7147,..Freeport, . Bahamas. ._}



opment and marketing activi-
ties related to bespoke financial
and fund. administration prod-
ucts.”

The bank added: “One of the
most notable successes in 2007
was the growth in the loan book
of 205.1 per cent, reflecting

strong demand for the interna-

tional mortgage product. “We
were also able to embrace and
launch a key jurisdictional ser-
vice during 2007 using the
Bahamas Private Trust Compa-
ny (PTC). The PTC can play an
important role in the manage-
ment of an ultra high net worth
individual or family’s wealth, in
essence providing the structure
for a Family Office.”

During fiscal year 2007, But-
terfield’s Bahamas operations
saw their net income increase
by 38.9 per cent to $3.1 million,
with revenues up 32.7 per cent
to $12.1 million.

Customer deposits grew by
10.3 per cent to $154 million,

- with the Bahamian.operation’s ...
total.assets. growing by. 16.9 per...

cent to $182 million.

VACANCY FOR THE POSITION OF:
ADMINISTRATIVE ASSOCIATE
MAJOR COMMERCIAL BANK

Core responsibilities:

¢ Assists supervisor and other persons in the Executive Office with
tasks such as drafting routine correspondence, taking accurate
notes during meetings, typing memos and reports, filing,
organizing items, scheduling appointments, and answering the

telephone.

Collates and/or distributes reports by collecting data, completing

the appropriate document and circulating to appropriate staff.
Performs general tidying, organization and replenishing for
functions in the Executive area including refreshments and

stationery.

Monitors supplies with a view to re-ordering before stocks are

depleted.

Knowledge, Skills and Abilities:

Associates Degree or equivalent and one to three years of office

experience.

Oral and written communication skills, including etiquette and

writing skills to interact with Executive/Senior management staff
and the general public.
Ability to treat information with confidentiality and

professionalism.

Training in public relations and good presentation skills e.g.

telephone manners.

Working knowledge of computer programs to use the Bank’s
network and its core banking applications.

Benefits

include:

Competitive

salary commensurate with

experience and qualifications; Group Medical (includes dental and

vision) and Life Insurance; Pension Scheme.

Interested persons should apply no later than
April 30", 2008 to:

DA 62063A

c/o The Tribune

P.O. BoxN3207

Nassau, Bahamas



ments to get a complete view
of the facts from the island’s
residents, which was now being
done.

Fleming’s Freeport-based
consultant, Global Fulfillment

Services’ Rob Millard, said he
had been asked to compile a
strategy based on residents’
opinions and comments.
Fleming added that a well-
financed and growing Grand

Bahama would need thousands
of new workers in growing busi-
ness areas that are labour inten-
sive, tourism and technology-
related, and that foreign help
may be needed to achieve this.

ABACOMARKETS

LIMITED

Abaco Markets Limited, a leading food distribution company with five retail and
club outlets is accepting applications for:

RETAIL BUYERS

The Job

To grow the retail business through purchases that anticipates and provides
unlimited options to meet consumer demands. The candidate must have a
firm understanding of market trends, with a clear understanding of logistics

along with the ability to establish and maintain effective vendor relationships.

Requirements

Minimum of 3 years experience, proficient in Word & Excel suites, Excellent
Oral and Written skills is a must. Marketing experience will be considered a plus.

We offer Great Benefits:

Growth & Advancement within the organization
A salary that will commensurate with experience
Group Medical & Pension Plans

Employee Discounts

Profit Sharing

A Supportive team environment

Interested persons should send their resumes to:

hr@abacomarkets.com



Bank of Hawaii Corporation and Subsidiaries
Consolidated Statements of Condition



December 31, December 3),



(dollars in thousands) : ‘ 2007 2006
Assets. 3
Interest- Bearing Deposits : $ 4,870 § 4,990
Funds Sold : 16,000 50,000
Investment Securities

Trading 67,286

Available-for-Sale 2,563,190 2,597,877

Held-to-Maturity (Fair Vaiue of $287,644 and $360,719) 292,577 371.344
Loans Heid for Sale > deal 11,942
aoe Leases 6,580,861! 6.623.167

Alldwance for Loan and Lease Losses (90,998) (90,998)

Net Loans and,[.eases _ 6,489,863 6,532,169

Tota] Earning Assets 9.445.127 9.568.322
‘Cash and Noninterest-Bearing Deposits 368,402 398.342
Premises and Equipment 117,177 125,925
Customers” Acceptances 1,112 1,230
Accrued interest Recervable 45,261 49,284
Foreclosed Real Estate , 184 407
Mertgage Servicing Rights : 27,588 19,437
Goodwill 34,959 34,959
Other Assets 433,132 373,909
Totai Assets $ 10.472,942 $ 10,571,815
Liabilities
Deposits

.Noninterest-Bearing Demand . : $ 1,935,639 $§ 1,993,794

Interest-Bezring Demand 1,634,675 1.642.375

Savings 2,630,471 2,699,846

Time 1,741,587 1.696.379
Total Deposits 7,942,372 8.023,394
Funds Purchased 75.400 60,140
Short-Term Borrowings 10,427 11,058
Securities Sold Under Agreements to. Repurchase - 1,029,340 1,047,824
Long-Term Debt 235,37) 260.288
Banker's Acceptances 1.112 1.230
Retirement Benefits Payable 29.984 48,309
Accrued Interest Payable 20.476 22.718
Taxes Payable and Deferred Taxes 278,218 277,202
Other Liabilities 99,987 100.232
Total Liabilities 7 9,722,487 9.852.305
Commitments and Contingencies (Note 17) =
Shareholders’ Equity
Cominon Staci ($.01 par value: authorized 500. 000,000 shares:

issued . outstanding: December 2007 - 56,995,447 / 48,589,645

and December 2006 56,848,609 / 49,777,654) 367 566
Capital Surplus * 484.790 475,178
Accumulated Othe: Comprehensive Loss (5,091) (39,084)
Retained iarnings 688,638 630,600
Treasury Stock. at Cost (Shaves: Decemver 2007 - $408,802

and December 2006 - 7.070.953) (418.049) (347,900)
Total Shareholders’ Kquity 750.255 719,420



$ 10.472.942

Total Liabilities and Shareholders’ Equity $_10.571.815

The accompanying notes ate an integral part of che Consolidated Financial Statements
If complete audited accounts are required, contact BAnk of Hawaii — Nassau Branch
P.O. Box N-3242, Nassau, Bahamas.

Report of Independent Registered Public Accounting Firm

Board of Directors and Sharehoiders
Bank of Hawa Corporation ‘
We have audited the accompanying consolidated statements of condivon of Bank of Hawan Corporation and
subsidiaries as of JJecember 31, 2007 and 20G6, and the related consolidated statements of income, shareholders’
equity, and cash flows for each of the three years in the period ended December 31. 20:7. These financial
staiements are the responsibility of the Company's management. Oui responsibility 1s 10 express an opimion on
these financial statements based on our audits.

We conducted our audits im accordance with the standards of the Public Company Accounting Oversight Board
(United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes cxamining, on a test basis,
evidence supporting the amounts and disclosures im the financial statements. An audit also includes assessing the
accounting principles used and significant estimates macle by manayement, as well as evaluating the overall
financial statement presentation. We belicve that our audits provide a reasonabic basis for our opinion.

In our opinion, the financial statements referred to avove present fairly, in all material respects, the consolidated
financial position of Bank of Hawaii Corporation and subsidiaries at December 3'. 2007 and 2006. and the
consolidated results of their operations and their cash flows for each of the three years in the period ended
December 31. 2007, in conformity with U.S. generally accepted accounting principies.

As discussed in Note | to the consolidated financial statements. effective January i. 2007, the Company

changed its method of accounting for mortgage servicing rignts in’accordance with Statement of Financiai
Accounting Standards No. 156, Accounting for Servicing of Firandial Assets, an amendment of FASB Siatement
No. 140; changed its method of accounting for leveraged leases in accordance with Financial Accounung
Standards Board (“FASB”) Staff Position No. 13-2, Accounting jor a Change or Projected Change in the Timing
of Cash Flows Relating io Income Taxes Generated by a Leveraged lease Transaction. and changed its method
of accounting for tax positions in accordance with FASB Interpretauon No. 48. Accounting Jor Uncertainty in
Income Taxes, an interpreiation of FASE Staiemeni No. /09

We also have audited in accordance with the stanaards of the Public Company Accounung Oversight Board
(United States), Bank of Hawan Corporation and subsidiaries’ internal contro! over financiai reporting as of
December 3:, 2007, based on criteria established in Iniemnai Control-Integrated Framework issued by the

49

Committee of Sponsoring Organizations of the Treadway Commission and our report dated February 22, 2008
expressed an iznqualified opinion thercon.

s Erns! & Young LLP

Honolulu. Hawaii
February 27, 2008
PAGE 4B, TUESDAY, APRIL 15, 2008

THE TRIBUNE



a ren ee ES, ee eee ee ees
82% public school maths ‘illiteracy harms economy

FROM page 1B

Massey’s analysis showed that
46 per cent of public school stu-
dents earned ‘G’ and ‘U’ maths
grades in 2006. Both those
grades represent ‘functional illit-
eracy’ under the criteria used
by the Ministry of Education’s
testing unit.

Another 36 per cent of public
school students earned ‘E’ and
‘F’ grades in maths, Mr
Massey’s research showed.
Although it was unclear if these
two grades fell into the func-










this notice.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that |, URAL DENNIS MCKINZIE of
Prison Lane, Nassau, Bahamas, intend to change my name to
BENJAMIN JAMES GIBSON. If there are any objections to this
change of name by Deed Poll, you may write such objections to
the Chief Passport Officer, RO.Box N-742, Nassau, Bahamas
no later than thirty (0) days after the date of the publication of

tional illiteracy standards set by
the International Trends in
International Mathematics and
Science Study (TIMSS) report,
his report said that either way,
the negative effects for Bahami-
an society and the economy
were massive.

“In the seven public schools
on New Providence, up to 82
per cent may not meet the inter-
national standard for basic lit-
eracy in mathematics,” Mr
Massey wrote. “The conclusion
is: ‘Public schools do not meet
the minimum of any Basic
Numerical Literacy standard’.”



NOTICE

MIRAMAR PROPERTIES LIMITED

Pursuant to the Provisions of Section 138 (8) of the
International Business Companies Act 2000 notice
is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by the Registrar
General on the 1st day of April, 2008.

Lynden Maycock
Liquidator

of

MIRAMAR PROPERTIES LIMITED

Legal Notice

»

NOTICE

LOMOWO VALLEY INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on _ the
3rd day of March 2008. The Liquidator is Argosa
Corp. Inc., P. O. Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
- (Liquidator)

GET MORE FOR LESS

Leaders in food distribution for retail and club packs

are accepting applications for the position of:

BUTCHERS

The Job

We are looking for persons with excellent practical
skills in preparing, cutting and packaging chill &
frozen meat, poultry and seafood. Knowledge of Meat
Standard Operating Procedures and quality handling
and holding of different types of meat, the ability to
operate meat related machinery is a must. Candidates
should possess good customer friendly skills with the
ability to work with teams. Computer skills desirable.
A minimum of 3 years working experience is required.

We offer attractive salary and benefit packages.

Interested persons should send their

resumes to hr@abacomarkets.com



He further concluded: “The

Department of Education has
a literacy problem that is mas-
sive.”

He added that these statistics
showed the true nature and
extent of the educational crisis
confronting Prime Minister
Hubert Ingraham and his Cab-
inet, plus the entire country.

Meanwhile, while 18 per cent
of private school students who
sat the exam in 2006 obtained
‘A’ and ‘B’ grades, some 22 per
cent achieved ‘E’ and ‘F’ grades,
and another 2 per cent gained
‘G’ and ‘U’ grades.

As a result, Mr Massey said
this meant that 24 per cent of
private school candidates “may
not meet the international stan-
dard for basic literacy”.

Based on the 4,256 grades
obtained by all students, Mr

Massey said almost 28 per cent
were functionally illiterate in
maths, while the 32 per cent
who gained ‘E’s and ‘F’s could
be if they fell into the TIMSS
‘low performance’ standard.

If they did, “up to 59 per cent
[of all Bahamian students] may
not meet the international stan-
dard for ‘basic literacy’ in
maths, the sum of [grades] E,
F, G and U”.

As for the consequences for
Bahamian businesses and the
economy, Mr Massey spelt
these out graphically in his pub-
lic policy essay, entitled Educa-
tional Achievement in the
Bahamas, Too few ‘A’ and ‘Bs’,
too many ‘E’, ‘F’, ‘G’ and ‘U’s.

“A failure to confront the

cognitive skills shortage in the

Bahamas condemns it to an
excessive reliance on non-

Legal Notice
NOTICE

e amas Pi

eline Syste

NOTICE IS HEREBY GIVEN as follows:

Seafarer Bahamas Pipeline System, Ltd. is in
dissolution under the provisions of the
International Business Companies Act 2000.

The dissolution of the said Company commenced
on the 10th April 2008 when its Articles of
Dissolution were submitted to and registered by the

Registrar General.

The Liquidator of the said Company is Sandra G.
Lowe of 1001 Louisiana Street, Houston, Texas
77002, U.S.A. as sole Liquidator.

Dated the 14th day of April, 2008.

H & J Corporate Services Ltd.

Registered Agent
for the above-named Company



Legal Notice

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

HURSTBRIDGE 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),
HURSTBRIDGE LIMITED is in Dissolution.”

The date of commencement of dissolution is the 27th day of March,

2008.

David Jenner
of 9 Burrard Street,
St. Helier, Jersey JE4 5UE
Liquidator



Legal Notice

NOTICE

WHITE PEROBA VALLEY INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company isin dissolution, which commenced on the
8th day of February 2008. The Liquidatoris Argosa
Corp. Inc., P. O. Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

WANTED

Immediately, technical sales & service representative for
the sale and technical support of the following;

|.D. Card, x-ray, micrographic, document storage, imaging

equipment & supplies.

Person must be self-motivated, and be able to work
with minimum supervision also should poses technical and
computer support skills. Own transportation is necessary.

Apply in person (with a copy of resume)
at the leeco building, thompson blvd.
Next to water and sewage corp.

Between the hours of 9am and 3pm Mon-Fri.

Bahamian manpower to meet
its legitimate needs,” Mr
Massey wrote.

“This is likely to produce
both slower growth and social
and political conflict that can
be avoided or minimised with
sound policies and a national
will to do so.”

In other words, to grow and
continue in business, Bahami-
an companies and the whole
economy are likely to become
increasingly reliant on ever larg-
er quantities of expatriate
labour to fill positions and skills
that poorly-educated and qual-
ified Bahamians are unable to.

Otherwise, Bahamian busi-
nesses and the nation’s econo-
my are likely to become increas-
ingly uncompetitive, as poor
labour productivity contributes
to this country being seen as a
high-cost, inefficient economy
that drives investors elsewhere.

Yet in turn, this is likely to
cause social and political ten-
sions, as Bahamians come to
feel they,are becoming second-
class citizens, unable to access
and take advantage of wealth
and job opportunities in their
own-homeland.

“The overall low level of edu-
cational achievement should be
considered unacceptable by
Bahamian society, and the

* nation must confront this reali-

ty in its long-term interest,” Mr
Massey wrote. “The question
is: ‘Does it have the collective
will to do this?

“There is an urgency today
that is especially daunting
because of the environment
within which the Bahamas
exists.”

Mr Massey said this was the
global economy, in which tech-
nological developments and the
end to ‘protectionist’ trade bar-
riers - including those based on
distance, language, governments
and borders - were changing the
dynamics of work.

“Technological change
increases, in varying degrees,
the complexity and pace of vir-
tually all jobs at all skill levels,”

’ Mr Massey wrote, conceding

that the “educational malaise
of the Bahamas”, as evidenced
by the poor tests scores, was not
peculiar to this nation.
However, he warned that the
urgency with which the
Bahamas needed to reform its
education system was ever-

For the stories

TRUS
PES ES



increasing, given the emergence
of new powerhouse economies
in Asia, and especially China
and India.

Referring to a January 2007
report, published by the US-
based National Bureau of Eco-
nomic Research, Mr Massey
said the findings uncovered by
its authors when it came to the
economic impact of education-
al reform - based on a study of
70 countries - were especially
important for the Bahamas.

Education quality, and the
quality rather than quantity of
exam grades, were most impor-
tant, the study finding that real
returns on education reform -
as opposed to no change - could
be a 36 per cent gross domestic
product (GDP) increase in the
long-term.

An Organisation for Eco-
nomic Co-Operation and
Development (OECD) report
suggested that fully implement-
ing an education reform pack-
age could take 20-30 years,
depending on how aggressively
“the goals are pursued”, indi-
cating that the Bahamas needed
to start now.

Mr Massey said the average
BGCSE score had not changed
since 1993, when the current
grading system was adopted,
and added: “In the case of the
Bahamas, there is an array of
factors working against reform.

“These include the laws gov-
erning the employment of
teachers, the existing collective
bargaining contract, the inertia
of an established bureaucracy
and the apparent social judg-
ments that underpin social pro-
motion, that destroy respect and
discipline in the classroom and
that make the separation of
incorrigible students impossi-
ble.

“The economics of education
suggests that keeping students
in school when they fail to
acquire skills is a waste of scarce
national resources, a diversion
that does not add to the indi-
vidual and. collective human
capital of the nation.”

Mr Massey added: “The
Bahamas is considered by major
international agencies as a
developed country based on its
relatively high Gross. National
Product per capita. But it would
be classed as a developing coun-
try based on its levels of acade-
mic achievement if it partici-
pated in the recognised inter-
national academic testing sys-
tem. ‘

_ “There is solid scientific sup-
port for the statement ‘Educa-
tional quality - measured by
what people know - has a very
powerful and positive effect on
the economic welfare of the
country’. Failure to recognise
this means the country is not
likely to be aggressive enough
with their education reform pro-
gramme; and the country is not
likely to become.a truly ‘devel-

999

oped country’.

MORTON SALT

ROHM
[HAAS

Seeks a qualified candidate for the position of

PROJECT ENGINEER
At Its Great Inagua Plant

Responsibilities include (but are not limited to):

Plant Safety, Health, and Environmental responsibilities and
knowledge of Regulatory Compliance

Development and management of Capital Budgets and projects
Construction and Capital equipment installation, physical plant
maintenance, on equipment and machinery

Comprehensive knowledge of standard and specialized
engineering computer applications including, reliability, and

data streaming

Identification of source problems and opportunities for

improvement :

Successful candidate should possess:

¢ Effective communication skills for internal and external ©

customers

Proficient oral and written communication skills
Positive can-do attitude easily adapts to change and is a team

player

Uses good judgment, Demonstrates a high level of
professionalism and integrity, discretion and ethical behavior
A Degree in Engineering, Five years experience with reasonable

field experience

Morton Bahamas Limited offers excellent benefits and salary

Interested applicants may submit resumes and proof of

qualifications to

Morton Bahamas Limited, Human Resources Department,
P.O. Box MT-509,
Matthew Town, Inagua,
The Bahamas.
Or, to vmoultrie@mortonsalt.com

The Company will only contact candidates under consideration.
All applications will be held in strict confidences. The candidate
must be willing to relocate to Great Inagua.


THE TRIBUNE

TUESDAY, APRIL 15, 2008, PAGE 5B



Se SS ir
Airport needs ‘in excess

of $100m in BS financing

FROM page 1B

er labour costs “and everything that hap-
pens this side”.

“In excess of $100 million is going to be
required locally,” Mr Watson said, adding
that financial institutions possessing an off-
shore licence would also be eligible to par-
ticipate in the US$ financing tranche.

“T think there’ll be great opportunities
for local banks and investment groups to
participate,” Mr Watson added. “The local
banks are eager to get into the ring.

“We hope to have the funding pretty
much in place by June. It’s $400 million in
total that we’re looking at.”

The Airport Authority chairman |

explained that ideally the financing would

take the form of a rolling credit facility,
with NAD able to draw funds down when
needed “in stages, rather than getting the
entire $400 million in one bloc.

“It’s a question of structuring the arrange-
ment of the loan so that the airport can
bear it.”

Mr Watson said that “if all goes well”
construction on the airport redevelopment
would start “later this year”.

The Government and Airport Authority
have approved the plans, and Mr Watson
said he was likely to have a better idea on
the construction timelines “in about two
weeks”, as this was when the project man-
ager was likely to be appointed.

“The size of the building is agreed. It is a
matter of devising the interior and stuff like
that,” Mr Watson said.

“We will have a seamless building, and

the building where the US terminal now
is, will be incorporated into that and includ-
ed as the arrivals area for all passengers in
the new design.”

The Airport Authority chairman said the
financing had “not felt any pressure at this
point” from the global financial system’s
credit/liquidity crunch, with Citibank con-
fident it could raise the foreign currency
component of the loan.

In a reference to the overall economic
importance of the airport redevelopment,
given that it was perhaps the Bahamas’
most important infrastructure asset and
tourism gateway, Mr Watson said: “This is
critical to our tourism development.

“Right now, we have to really upgrade
and change the product we are offering,

and the airport will be central to leading us —

in that direction.”

Looking for an experienced

Fund Administrator

A small start-up Fund Administration company

is looking for a dynamic person who has a few years
experience in the Administration of Bahamas SMART
and Professional Funds. The ideal candidate would
also be assigned other related tasks. He/she must be
able to fit in a small young group of prfessionals and

is a motivated team-player.

Please send your resume with a salary expectation
. to HR Management,
P.O. Box N-7755, Nassau, Bahamas.



Rum Cay developer to start
Phase One work on July 1

FROM page 1B

The Sumner Point Marina 50-60.

currently had about 30 docking

NOTICE

NOTICE is hereby given that CELESTINE SHIDEL NAKIA
HEPBURN of 7TH ST., COCONUT GROVE, 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 15th day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that ILIONER CALIXTE of
RIDGELAND PARK -WEST, 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 senda written and signed statement
cof the: facts: within twenty-eight: days: from: the 15th day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.





NOTICE

NOTICE is hereby given that CATHLENE FENELUS
SENATUS of EXUMA ST. THE GROVE, P.O. Box
N-3331, 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 senda written and signed statement of the
facts within twenty-eight days from the 15th day of
April 2008 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.












BAHAMAS FIRST

FIRST IN INSURANCE. TODAY, TOMORROW.

Career opportunity for an ambitious career oriented
individual

Trainee Risk Surveyor

Role & Responsibilities:
- Survey Property Risks all over the Bahamas
- Make Loss Prevention recommendations

Qualifications:

- College Graduate with B.A. Degree in Engineering,
Architecture or Technical Drafting preferred

- Successful applicant must complete the surveying
qualifications in four years

- Experience useful but not essential

- On the job training will be provided

- Computer proficiency required .

- Strong communication and interpersonal skills required
- Must be able to work with minimal supervision

The Bahamas First Group is the largest property and casualty
insurance company in the Bahamas and has A- (Excellent)
Rating from A.M. Best, reflecting the company’s financial
stability and sound risk management practices. Compensation
commensurate with relevant experience and qualifications.

Please apply before April 23rd, 2008 to:
Group HR & Training Manager
Bahamas First Corporate Services
32 Collins Avenue
P.O. Box SS-6268
Nassau, Bahamas

Or email to:
careers@ bahamasfirst.com





slips, and Mr Farrant said Mon-
tana Holdings planned to
increase this number to about

The developer’s remaining







plans for Sumner Point Marina
included removing “some badly
placed groins” on the beach, as
they had been requested to by
government, to ensure the long-
shore transportation of sand.

In addition, Montana Hold-
ings planned to install a water
and wastewater treatment plant,
and prepare lots for 15 houses
on the beach side and 21 on the
marina side, making a total of
36 in all. ;

Mr Farrant said commitments
had been received on some of
the real estate at Sumner Point,
although no transactions had
been closed.

“We have every intention of
starting on July 1,” Mr Farrant
told The Tribune. “We’re quite
excited. Even in this economic
climate, you’ve got to ensure
your project is going forward.

“With the business plan we
have, hopefully will make prof-
its on that [Sumner Point], and
that will lead us nicely into the
development of the southern
side.”

He added that Montana
Holdings planned to meet with
the Government shortly to brief
it.on its plans to develop the
Rum Cay project.

Meanwhile, Mr Farrant said
the ‘scurrilous attacks’ that had
been mounted against Montana
Holdings and its Rum Cay
development, in a bid to
“severely impede” its progress,
had largely halted.

“A lot of those attacks have
stopped. Montana has hopeful-
ly seen a bygone day of people
trying to stop development
down there,” he said.

Mr Farrant had earlier this
year told The Tribune that
Internet-based attacks seeking
to undermine Montana Hold-
ings’ reputation,.coupled with
the “confusion” caused by a
rival hotel development for
Rum Cay bearing a similar
name, had affected the project’s
progress.

The net effect, he-explained
at the time, was that false claims
alleging things such as Montana
Holdings not having good title
to the 897-acre site had deterred
potential real estate buyers and
investors from becoming
involved with the Rum Cay pro-
ject.




S52wk-Low























14.25
8.00 6.00
0.54 0.20.

RND Holdings

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

Today's Close - Current day's





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

2 Abaco Markets 1.94 1.94 0.00 0.135 0.000 14.3 0.00%

11.50 Bahamas Property Fund 11.80 11.80 0.00 1.502 0.400 7.9 3.39%

9.00 Bank of Bahamas 9.61 9.61 0.00 0.643 0.160 14.9 2.71%

0.85 Benchmark 0.99 0.99 0.00 0.188 0.030 5.3 3.03%

2.30 Bahamas Waste 3.66 3.66 0.00 0.289 0.090 12.7 2.46%

1.30 Fidelity Bank 2.60 2.60 0.00 0.058 0.040 44.8 1.54%

10.41 Cable Bahamas 13.63 13.63 0.00 1.093 0.240 12.5 1.76%

2.10 Colina Holdings - 2.87 2.87 0.00 0.091 0.040 31.5 1.39%

4.75 Commonwealth Bank (S1) 7.22 7.22 0.00 0.428 0.270 16.9 3.74%

3.60 Consolidated Water BDRs 4.70 4.63 -0.07 0.157 0.052 30.0 1.10%

2.20 Doctor's Hospital 2.65 2.65 : 0.00 0.316 0.040 8.4 1.51%

5.94 Famguard 7.92 7.92 0.00 0.713 0.280 FF | 3.54%

13.01 12.49 Finco 12.92 12.92 0.00 0.810 0.570 16.0 4.41%
14.75 13.50 FirstCaribbean 13.50 13.50 0.00 0.914 0.470 14.8 3.48%
6.10 5.12 Focol (S) 5.50 5.12 -0.38 1,950 0.386 - 0.140 13.3 2.73%
1.00 0.54 Freeport Concrete 0.67 0.61 -0.06 2,500 0.035 0.000 17.4 0.00%
8.00 6.86 ICD Utilities 6.86 6.86 0.00 0.411 0.300 16.7 4.37%
12.50 8.60 J. S. Johnson 12.30 12.30 0.00 1.059 0.620 11.6 5.04%

_.Premier Real Estate

: Symbol _
Bahamas Supermarkets
Caribbean Crossings (Pref) : 6.00 6.25 6.00 0.000 0.480 NM 7.80%




RND Holdings

41.00 41.00 ABDAB : 41.00 43.00
14.60 14.00 Bahamas Supermarkets 14.60 15.60 14.00 1.160 0.900 13.4 6.16%
0.55 0.40 0.45 0.55 0.45 -0.023 0.000 N/M 0.00%

52wk-Hi 52wk-Low Fund Name NAV YTD%

1.3081 1.2443 Colina Bond Fund 1.308126°*** 1.25% 5.61%

3.0008 2.6629 Colina MSI Preferred Fund 2.996573°*** -0.14% 13.11%

1.3847 1.2647 Colina Money Market Fund 1.386634°** 0.84% 3.89%

3.7969 3.1827 Fidelity Bahamas G & | Fund 3.7041%"** -2.52% 17.78%

12.1010 11.4992 Fidelity Prime Income Fund 12.1010°* 1.40% 5.72%

100.0000 100.0000 CFAL Global Bond Fund 100.00°* :

100.0000 100.0000 CFAL Global Equity Fund 100.00°*

1.0000 1.0000 CFAL High Grade Bond Fund OOF

10.5000 9.6346 Fidelity International Investment Fund 9.6346* -8.24% -8.24%
Market Terms NLAN. Key

Previous Close - Previous day's weighted price for daily volume
ted price for daily volume

2 month earnings

TO TRADE CALL: CFAL 242-502-7040 | FIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-

JOB OPPORTUNITY
for CONTAINER WELDER

Aggressive Bahamian Shipping Company is currently seeking a Container welder

Job Description
Repair and perform preventative maintenance on containerize equipment
including Containers, Chassis, Trailers and Forklifts
> Maintain maintenance history for all containerize equipment

Requirements

3 years or more of Welding, Mechanical ability and Fabrication Experience

) Formal technical certification a plus

> Ability to weld with MIG & Stick Welding

> Ability to lift up to.70 lbs

) Ability to use Forklift Equipment

) Able to stand for long periods of time

Able to frequently reach, bend, grasp, stoop, push and pull

) Ability & desire to work in a fast-paced, organized, positive
environment

) Excellent Troubleshooting Skills

Competitive Pay
Interested Person should send their resumes by mail to the following address on
before April 25, 2008
The Human Resources Manager

P.O.Box SS-6411

Nassau, Bahamas



Visit our website at www.cob.edu.bs Ronee 6)

REGISTRATION NOTICES

Registration for Fall ~ 2008.

The Office of The Registrar wishes to advise that Online
Registration for the Fall Semester for all current students is now
taking place. Please visit the College’s website at www.cob.edu.bs
for further Registration details.

Late Registration for Summer ~ 2008

Late Registration for the Summer Session will also be online and
will take place on Thursday, May 15th, and Friday, May 16th,
2008. Please visit the College’s website at www.cob.edu.bs for
further Registration details on Friday, May 2nd 2008.

y









EG CAPT ETS

TAL MARKE
BROKERAGE & ADVISORY SERVICES

D% -5.29





6
XBAHAMAS.COM FOR MORE DATA &

Previous Close Today's Close

10.00 10.00 aa 0.00
Fidelity Over-The-Counter Securities :
Bid S$ Ask $ Last Price P/E Yield
14.60 15.60 14.60 1.160 0.900 13.4 6.16%





















0.40 0.35 ‘ -0.023 0.000 N/M 0.00%

0.35
Colina Over-The-Counter Securities Z
41.00 4.450 2.750 9.0 6.70%

BISX Listed Mutual Funds

Last 12 Months DivS Yield%









* - 29 February 2008
++ - 31 December 2007
°°. 4 April 2008

ste 34 March 2008

YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity

Ask $ - Selling fi

Last Price - Last tr
Weekly Vol. - Trading volume of the prior week

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

N/M - Not Meaningful

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





J over-the-counter price




396-4000 | FOR MORE DATA & INFORMATION CALL 242-394-2503


PAGE 6B, TUESDAY, APRIL 15, 2008





RIGHT---HE
WANTS TO BE














2 5/GHZ...TM SORRY, -
HONEY. CAN YOU FORGIVE
LES WAR
a)

NO, ALAN, AtITT
SAD.

; a> |

‘IF YOU'D RATHER NOT
GO TO BLAZE'S PARTY, / A L/771



\

S=

<
=
eS STE oS



(IE YOU PREFER TO SPEAK TO AN
ACTUAL TECHNICIAN INSTEAD OF

i RECORDED ASSISTANCE, PLEASE
SAY ‘HUMAN ASSISTANCE“

YOU DION'T REALLY
EXPECT TO GET ANYWHERE
WITH THAT, DID YOU?!














, ©2008 by King Features Syndicate, Inc. World Rights reserved
AN
=





“ALL MY PRESCRIPTIONS

ALL MINE
ARE GENERIC

ARE GERIATRIC

(©.2008 by North Amerie Syndicate, ina. World rights reserved.

NONSEQUITUR

WN

DW Wks £508 “WedenWin ha “1sI0

WULCNOLOL-SEQUI TY;




TIGER S
THERE'S A REAL
FUNNY Noise IN







| CRYPTIC PUZZLE |

“%




ACROSS ‘DOWN
3. Choose to have a power cut? (5) 1 Aloopy girl with love (5)














8 — Official who may get 2 There are horses for them (7) ;
' nothing right? (5) 4 — Aquiet contradiction (4) 18
10 An American hairstyle to many (5) 5 See acomplaint as something ‘ = pee be
71 It was never worth much in tasteful (6) BBe
Southend (3) - Vf 6 — Goingup and down below
12 _ It’s clear the dicks need a bit : Teddington (5) 4
of luck (5) 7 Alittle part that came to nothing (5)
13 Wrongly taken by us to be a terrible 9 — Anybody can be one (3)
‘prude (7) 12 Maybe the real tough stuff (7)
15 Saves wrecked vessels (5) 14 One stepping up a bit in your
18 It’s blue or green, but roseate in the favour? (3) ;
middle (3) ‘16 P'msly about being $0 obsequious (5)
19 It’s loud, yet soft if cut by some 17 Having the bottle, takes shots (5)
decibels (6) 19 Incomprehensive terms, or badly,
21 Tortuous testers of canine . perhaps (7)
creatures (7) 20 Anareato back up a car during a
22 Punishes for some sparse returns (4) . face (5) ae
23 Howself-satisfied mugs can be! (4) 21 Beliterally correct for atime (5) ACROSS
24 Sort of car that crashed into the 23 Historic provider of food and some : Fellows (5)
gateway! (7) ; wine (7) : ee
26 That of one’s money? (6) 24 Name a canal centre in the general 10 oasian (5)
29 Little chap led astray (3) 4 direction of Panama (6) 11 Container (3)
31 The all-in total (5) 25 Wenote it’s quite tiny (3) 12 Sewer (5}
32 Gathered that Ed had the wrong 27‘ They canbe minced and served up as a B eet
angle (7) hot (5) N 5 witiekt (5)
34 The Italian takes time out 28 Former monarch farther back in 5 18 Metai (3):
regularly (5) , history (5) o. 19 Empty
35 Made a hole of unparalleled 30 Toothy girl? (5) > , (6)
ugliness (3) 32 With the cunning guile I’m missing, | Ww Hee
36 Female ways have a certain gloss (5) can only give a sticky clue (4) < 23 Darns (4)
37 fist the game for a house party? (5) 33 She’s good at turning up ut 24 Edited (7)
38 Twist acomposer (5) unruffled (3) 26 infertile (6)
aoe 7 o 29 Help (3)
1: oA : | = 31 Alloy (5)
: 4 i" = 32 Intestines (7)
. - +5. 34 Animal (5)
A OKEE Cap al 9 res ht 13, Treat 14, Iv-or-y = oy a ’ i ea
BALE Banat Geld Ropes 20 Ene Paebole AleasiZ Maas oe ora cae 6)

31, Pla-t-ce 32, Seems (seams) 35, Aid-E-d 36, Hasps Notion 23, Simian 25, Inflate 27, Gastric 30, Truant 31, Enrage

37, For go-od 39, Marine-R 41, (luf 32, Sheep 35, Ultra 36, Olive 37, Ottoman 39, Heathen 41, 37 Flo
443, ieeaesoes 44, Mode tor ea neven trey} Az, Peat Mince 42, Rules 43, Capricorn 44, Craters. ee
| DOWN: 1, Career 2, Dia-tribe 3, Making waves 4 Body clock 5, | DOWN: 1, Brutal 2, Ignorant 3, Impersonate 4, Intention 5, part (5)
‘ _ | Demands 6, Difference 7, Chub(by) 10, Sta-bloyHte 11, Forg-iv-e | Leg-pull 6, Sweatshirt 7, Here 10, Preach 11, Mammoth: 12, 38 Hidden
4 12, Te-as-ed 19, Presume 21, Settled 24, Money for jam 26, Cousin 19, Cuisine 21, Banquet 24, Take fo heart 26, Lancashire :
Rounding up 28, Closeness 29, Miss-i-ve(X) 30, Cla-mm-y 28, Infirmary 29, Taverna 30, Touchy 32, Saturate 33, Punish store (5)

32, Scrapped 33, Saddle 34, Sharply 38, Or-ator 40, Rose 34, Connect 38, Molars 40, Alas.

COMICS PAGE

THE TRIBUNE





TM MAKING SUSI
DERKINS A VALENTINE.




WO INIAIVE (POM







Susie,



NOW I'M PUTTING -
LACE AROUND IT. ;



"tt BP
Le a
a



“U5 I'M SUPPOSED TO KEEP You OCCUPIED
WHILE MoM AN’ DAD FINISH CLEANIN’ UP.”

The, Worst-Case Scenario

East dealer.

Both sides vulnerable.
‘ NORTH
@A7
9762
A10953
K94
WEST EAST
@Q862 10953
VA10854. ¥Q3
82 @K6
&I6 108753
SOUTH
@KI4
Â¥KI9
QI574
AQ2
The bidding:
East South West North
Pass 1 NT Pass 3 NT

Opening lead — five of hearts.

When you’re declarer and the
outcome seems promising but not
certain, you should try to picture the
ways the defenders’ cards might be

. divided that would put the contract in
jeopardy. Once you determine the
dangers that may exist, it is much
easier to combat them.

Take this case where West leads a
heart against three notrump and East
plays the quéen. Before deciding
whether to take the queen with the
king, you should review. the: entire
situation. —

YESTERDAY’S SOLUTION
agape agar agate
agent agnate anger
angry gantry gape

_ gaper garnet gate
gayer gean gear gent
gentry gnat gran grant

' grape grapy grate gray
‘great grey gyrate gyre
pagan page pageant
PAGEANTRY pager
pang parget prang
raga rage rang range
rangy tanager tang
tangy trepang yang

































2

4 Difficult (4)

5 Fundamental
(6)

6 Of sound (5)

7 ‘First perfor-
mance (5)

9 Thus (3)

12° Inhabitant {7)

14 Dull (3)

_19 Brave (7)
20 Snatches (5)
21 Nucleus (5)
23 Tranquillised
(7)
24 Capitulate (6)
25 Transgression (3)
27 Musketeer (5)
28 Word
puzzle (5)
30 Model (5)
32 Egyptian deity
(4)33
Decay (3)

TARGET

The first thing to ask yourself is,
“What can defeat me?” It is of course
obvious that if West has the king of
diamonds, you can make at least 11
tricks by winning the heart and fi-
nessing the queen of diamonds.

But if East has the king of dia-
monds, you could go down. This
would happen if West started with

five hearts headed by the A-10, in-

which case a heart return by East
would allow West to cash four heart
tricks.

Since the possibility of East’s
holding the diamond king and West’s
having started with five hearts is very
real, you should not play to the first
trick before considering whether
there is any way to c ercome that
distribution.

Careful thought idicates that
even this threat can be. defused.
Accordingly, you play the nine on
East’s queen at trick one. When he
returns a heart, you play the jack, not
caring one iota which ee has.
the diamond king or w
started with four hearts or five.

Whatever the case — assuming
West started with four or more hearts
— you are certain to score at least
nine tricks. Your refusal to take the
first trick until you have determined
what can defeat you allows you to
make a contract that might easily fail
with less cautious play.

HOW many words of
four letters or more can
you make from the
letters shown here? In
making a word, each
letter may be used once
only. Each must contain
the centre letter and
there ust be at least
one nine-letter word. No
plurals, or verb forms
ending in “s”, no words
with initial capitals and
no words with a hyphen
or apostrophe
permitted. The first
word of a phrase is
permitted (e.g. inkjet in
inkjet printer).

TODAY’S TARGET

Good 13; very good 19;
excellent 25 (or more).
Solution Monday.

'e

P ConNers v Maia Chiburdanidze,
Lippstadt 2000. P ConNers looks

like a misprint, but was actually 12
feet tall and an abbreviation of
Parallel Controlled Conspiracy
Number Search. For a brief period 7
5-7 years ago, some organisers
allowed computer programsinto °
normal tournaments. Humanity =;
soon abandoned the unequal
struggle as the machines scored an
abnormal number of victories and 3
high prizes. P ConNers won the




ether West *



J hete you. Dro
dead, P



TUESDAY,
APR 15

AQUARIUS - Jan 21/Feb 18

Now’s the time to take a good, hard
look at your finances, Aquarius. You
may want to scale back some of
those luxury items, then invest your
savings for the future.

PISCES — Feb 19/March 20
Feelings are running high this week,
which may result in an argument with
a close friend. While you both may
say some nasty things, remember the
importance of your friendship.

ARIES —- March 21/April 20 |
It will be. difficult to know what is
fact and what is fiction this week,
Aries, but one thing is for sure — it’s
time to slow down a bit at work. The
hectic pace is wearing you down.

TAURUS - April 21/May 21
While everyone around you is fussing
and fretting over minor concems, you
will be quietly doing what you have to
do this week, Taurus. Good for you.

’ GEMINI- May 22/June 21

Part’ of’ you wants to escape you

responsibilities, but rest of you knows:
this isn’t a good idea this, week. What

can you do? For siarters,,do the job

right the first time. Then, go play.

CANCER - June 22/July 22
There’s an old saying that knowledge .
is power, but secrets are more powerful
still, Cancer. Be true to your nature this

"|. week and don’t let on that you have in-

sider information about a family friend.
LEO - July 23/August 23

It’s usually paid off for you to trust
your lion’s instincts, Leo. However,
you’re not quite thinking straight
this week, so it may be a better idea
to avoid making any major decisions -
without more evidence... . .
VIRGO - Aug 24/Sept 22
You’re in demand this week, Virgo.
Everyone wants something, but they
may not be so willing to give some-
thing in return. No matter how
aggravating this gets for you, don’t
give in to your temper.

LIBRA - Sept 23/Oct 23
Don’t take everything you hear so
seriously this week, Libra. It will on!,
increase your fears. Have fun with

_ that special someone on Thursd: y.

SCORPIO - Oct 24/Nov 2.
Pretend your enemies don’t exist this.
week, Scorpio. You’re in a good
mood, so don’t let anything spoil it.
Instead, take a walk in the park or
visit a museum. Enjoy yourself.

SAGITTARIUS-— Nov 23/Dec 21

Romance has muddled your senses a bit
recently, but it’s important to take a look
at all the facts. That’s not to say that any-
thing is wrong — just watch your back.
People aren’t always what they seem.

CAPRICORN - Dec 22/Jai>20

This appears to be very busy week

for you, Capricorn. Delegate some

of the smaller tasks so that you can -
get on with the serious work. Don’t

forget to get some rest!

_ CHESS, by Leonard Barden !

Lippstadt tournament, and here the 7 fished

silicon star is White (to move) l
against a former world woman
champion. Chib expected 1 Rxc3
Rxa7 with a book draw where
White’s extra pawn is insufficient.
What did she miss?



LEONARD BARDEN

—

Chess 8593: 1 Rh8+! Kxh8 2 g6 with no defence to 3.

Rc8 mate.
THE TRIBUNE

El] ERNST & YOUNG

@ Chartered Accountants @ Phone: (242) 502-6000

One Montague Place Fax: (242) 502-6090
Third Floor www.ey.com

East Bay Street

P.O. Box N-3231

Nassau, Bahamas

Independent Auditors’ Report to the Shareholders of
FirstCaribbean International Bank (Bahamas) Limited

We have audited the accompanying consolidated balance sheet of FirstCaribbean International Bank
(Bahamas) Limited (the “Bank”) as at October 31, 2007 and a summary of significant accounting
policies and other explanatory notes.

The consolidated balance sheet of the Bank as at October 31, 2006, were audited by other auditors
whose report dated December 15, 2006, expressed an unqualified opinion. We also audited the
adjustments described in Note 25(i) that were applied to restate the 2006 consolidated balance sheet. In
our opinion, such adjustments are appropriate and have been properly applied.

Management’s Responsibility for the Consolidated Financia! Statements

Management is responsible for the preparation and fair presentation of the balance sheet in accordance
with International Financial Reporting Standards. This responsibility includes: designing,
implementing and maintaining internal contro! relevant to the preparation and fair presentation of a
balance sheet that is free from material misstatement, whether due to fraud or error; selecting and
applying appropriate accounting policies; and making accounting estimates that are reasonable in the
circumstances. '

Auditors’ Responsibility

Our responsibility is to express an opinion on the balance sheet based on our audit. We conducted our
audit in accordance with International Standards on Auditing. Those standards require that we comply
with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the
balance sheet is free from materia] misstatement.

An audit involves performing procedures to obtain evidence about the amounts and disclosures in the
balance sheet. The procedures selected depend on the auditors’ judgment, including the assessment of
the risks of material misstatement of the balance sheet, whether due to fraud or error, In making those
risk assessments, the. auditor considers internal control relevant to the entity’s preparation and fair
presentation of the balance sheet in order to design audit procedures that are appropriate for the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s
internal control. An audit also includes evaluating the appropriateness of accounting policies used and
the reasonableness of accounting estimates made by management, as well as evaluating the overall
presentation of the balance sheet.

"We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinion.

Opinion
In our opinion, the consolidated balance sheet presents fairly, in all material respects, the financial
position of the Bank as of October 31, Pat in accordance with International Financial Reporting

Standards.
Eunet +

A member firm of Ernst & Young Global Limited

April 14, 2008

FIRSTCARIBBEAN INTERNATIONAL BANK (BAHAMAS) LIMITED
CONSOLIDATED BALANCE SHEET

AS OF OCTOBER 31, 2007

(expressed in thousands of Bahamian dollars)

TUESDAY, APRIL 15, 2008, PAGE 7B

2.3 Change in accounting policies

The accounting policies adopted are consistent with those used in the previous financial year except as follows:

During the year, a review of the Bank's hedge accounting revealed that existing hedge documentation was not appropriate. Consequently, all
hedges existing as of that date were disqualified from having met the criteria for hedge accounting. The effect of this was that upon
disqualification, the hedges are treated as if the disqualification existed from inception of the hedges. On disallowance of the use of hedge
accounting, the fair values of the loans and the bonds were reversed and the bonds that were available-for-sale were marked to market through

equity.

This change has been applied retrospectively in accordance with LAS 39 Financial Instruments: Recognition and Measurement and consequently
the October 31, 2006 comparative balance sheet has been restated to reflect this change. The impact on the consolidated balance sheet as at
October 31, 2006 was to reduce total assets by $8,668. Reserves were increased by $474, and opening retained earnings increased by $830 (see
Note 25 (i)).

As of November 1, 2006, the bank changed its accounting policy on the recognition of all purchases and sales of financial assets at fair value
through profit or loss and available for sale that require delivery within the time frame established by regulation or market convention (‘regular
way” purchases and sales) from trade date (which is the date that the Bank commits to purchase or sell an asset) to settlement date (which is the
date that an asset is delivered to or by the Bank). This change has been applied retrospectively in accordance with IAS8 Accounting Policies,
Changes in Accounting Estimates and Errors and consequently the October 31, 2006 comparative balance sheet has been restated to reflect this
policy change (see Note 25 (ii)).

As of November 1, 2005, loan origination fees relating to loans that have a high probability of being drawn down, are to be deferred (together
with related direct costs) and recognized as an adjustment to the effective interest yield on the loan in accordance with IAS 18 Revenue. This
accounting treatment was not applied in the past as previous estimations indicated the adjustment to be immaterial. For the year ended October
31, 2006, management has estimated the impact using the last four year’s historical data along with certain key assumptions about the maturity
profile of the loan portfolio prior to 2004 and the level of fees booked prior to 2002.

2.4 Segment reporting

A business segment is a group of assets and operations engaged in providing products and services that are subject to risks and returns that are

different from those of other business segments. A geographical segment is engaged in providing products or services within a particular

economic environment that are subject to risks and returns that are different from those of segments operating in other economic environments.

Segments with a majority of revenue eamed from external customers, and whose revenue, results or assets are 10% or more of all the segments,
* are reported separately. .

2.5 Foreign currency translation
The consolidated balance sheet is presented in Bahamian dollars, which is the Bank’s functional and presentational currency.
Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency at rates prevailing at the balance

sheet date and non-monetary assets and liabilities are translated at historic rates. Translation differences on non-monetary items, such as equities
classified as available-for-sale financial assets, are included in the available-for-sale reserve in equity.

2.6 Financial instruments

Initial recognition and subsequent measurement

Date of recognition :

Purchase or sale of financial assets that require delivery of assets within the timeframe generally established by regulation or convention in the
marketplace are recognized on the Setilentent date, i.e. the date that an asset is delivered to or by the Bank. Derivatives are recognized on a
settlement date basis.

Initial recognition of financial instruments

The classification of financial instruments at initial recognition depends on the purpose for which the financial instruments were acquired and
their characteristics. All financial instruments are measured initially at their fair value plus, in the case of financial assets and financial liabilities
not at fair value through profit or loss, any directly attributable incremental cost of acquisition or issue.

The Bank classifies its financial assets into the following categories:

(i) Financial assets at fair value through profit or loss .
(ii) Loans and advances to customers

(iii) Held-to-maturity investments

(iv) Available-for-sale financial assets

@ Financial assets or financial liabilities designated at fair value through profit or loss
Financial assets and financial liabilities classified in this category are designated by management on initial recognition when the following
criteria are met:
* The designation eliminates or significantly reduces the inconsistent treatment that would otherwise arise from measuring the
assets or liabilities or recognizing
gains or losses on them on a different basis; or
* The assets and liabilities are part of a group of financial assets, financial liabilities or both which are managed and their ”
performance revaluated on a fair value basis, in accordance with a documented risk management or investment strategy; or
= The financial instrument contains an embedded derivative, unless the embedded derivative does not significantly modify the cash
flows or it is clear, with little or no analysis, that it would not be separately recorded. This category comprises financial assets
held for trading. A financial asset is classified in this category if acquired principally for the purpose of selling in the short term or
if so designated by management. Derivatives are also categorised as held for trading unless they are designated as hedges.

Financial assets and financial liabilities at fair value through profit or loss are recorded in the consolidated balance sheet at fair value. Included in
this classification are loans and advances to customers that are economically hedged by credit derivatives that do not qualify for hedge
accounting as well as structured notes that are managed on a fair value basis.

Financial assets or financial liabilities held for trading

These assets are recorded in the consolidated balance sheet at fair value. A financial asset is classified in this category if acquired principally for
the purpose of selling in the short-term or if so designated by management. Derivatives are also categorized as held for trading unless’they are
designated as hedges. E

Derivatives recorded at fair value through profit or loss

2007 2006 Derivatives include interest rate swaps and futures, credit default swaps, cross currency swaps, forward foreign exchange contracts and options
Notes $ - § on interest rates, foreign currencies and equities. Derivatives are recorded at fair value and carried as assets when their fair value is positive and
(Restated) as liabilities when their fair value is negative.
Derivatives embedded in other financial’ instruments, such as the conversion option in an acquired convertible bond, are treated as separate
ASSETS : 1 derivatives and recorded at fair value if their economic characteristics and risks are not closely related to those of the host contract, and the hose
Cash and balances with central bank 3 116,808 69,143 contract is not itself held for trading or designated at fair-v value through profit or loss. The embedded derivatives separated from the host are
Due from banks 4 152,626 297,817 carried at fair value in the trading portfolio. ,
Derivative financial instruments ; 5 36,713 1,983 /
Fi ial ts at fai lue thr fit \ 6 192.307 652.281 di) Loans and advances to customers
Inancial assets at lair value ‘ough protit or loss pS Loans and advances to customers are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market.
Other assets 7 32,662 39,611 They are not entered into with the intention of immediate or short-term resale and are not classified as ‘financial assets held for trading,
Investment securities 8 893,161 706,565 designated as ‘financial investment available-for-sale, or ‘financial assets designated at fair value through profit or loss’. After initial
Loans and advances to customers 9 2,415,975 2,425,951 measurement, loans and advances are measured at amortized cost, less allowance for impairment.
Rowor ae eae ‘ + oa aoen, (ii) Held-to-maturity investments
yi etirement benefit assets . . , se Held-to-maturity financial investments are those which carry fixed or determinable payments and have fixed maturities and which the Bank has
Seog peat " Goodwill i ae 12 187,747 . 187,747 ? the intention and ability to hold to maturity. After initial measurement, held-to-maturity financial investments are subsequently measured at
yea . ie hp 8 3 : : Sees : amortized cost using the effective interest rate method, less allowance for impairment. Amortized cost is calculated by taking into account any
Total assets . fs Ts, a dy 4,668,455 4,423,961 discount or premium on acquisition and fees that are an integral part of the effective interest rate. Similarly, the losses arising from impairment
“ye ryt ef ——— of such investments are recognized in the current period. ot
LIABILITIES : (iv) Available-for-sale financial investments
Customer deposits 13 3,661,406 3,503,903 Available-for-sale financial investments are those which are designated as such or do not qualify to be classified as designated as fair value
Derivative financial instruments 5 30,974 12,424 through profit or loss, held-to-maturity or loans and advances. They include equity instruments, investments in mutual funds and money market
ied Mabe d other debt instruments.
Debt securities in issue 14 20,620 - ae : :
Other borr owed funds 15 278,171 281,344 After initial measurement, available-for-sale investments are subsequently measured at fair value. Unrealized gains and losses are recognized
Other liabilities : 16 30,138 17,944 directly i in equity in the ‘available-for-sale reserve’. When the security is disposed of, the cumulative gain or loss previously recognized in equity
Retirement benefit obligations 11 3,81 4 1 1,608 is recognized in the current period. Where the Bank holds more than one investment in the same security they are deemed to be disposed of on a
first-in first-out basis.
: Total liabilities 4,025,123 __3,827,223 Financial assets are initially recognized at fair value plus transaction costs for all financial assets not carried at fair value through profit or loss.
7 Financial assets are derecognized when the rights to receive the cash flows from the financial assets have expired or where the Bank has
EQUITY transferred substantially all risks and rewards of ownership. When the Bank has transferred its rights to receive cash flows from an asset or has
Share capital and reserves ‘ 18 436,297 436,030 entered into a pass-through arrangement, and has neither transferred nor retained substantially all the risks and rewards of the asset nor
: * 207,035 160,708 transferred control of the asset, the asset is recognized to the extent of the Bank’s continuing involvement in the asset. Continuing involvement
Retained earnings TO that takes the form of a guarantee of the transferred asset i$ measured at the lower of the original carrying amount of the asset and the maximum
. amount of consideration the Bank could be required to Tepay.
Total equity __ 643,332 $96,738
. : Unquoted equity instruments for which fair values cannot be measured reliably are recognized at cost less impairment.
iabilities and equi 4,668,455 _ 4,423,961
Total liabilities aety _———— 2.7 Derecognition of financial assets and financial liabilities

@ Financial assets
A financial asset (or where applicable a part of a financial asset or part of a group of similar financial assets) i is derecognized where:
= The rights to receive cash flows from the asset have expired; or
= The Bank has transferred its rights to receive cash flows from the asset or has
: = — assumed an obligation to pay the received cash flows in full without material delay to a third party under a ‘pass-through
. wd arrangement; and

Approved by the Board of Directors on April 14, 2008 and signed on its behalf by:

kes

Michael Mansoor

Either (a) the Bank has transferred substantially all the risks and rewards of the asset, or (b) the bank has neither transferred nor
retained substantially all the risks and rewards of the asset, but has transferred control of the asset.



Sharon Brown When the Bank has transferred its right to receive cash flows from an asset or has entered into a pass-trough arrangement, and has neither

Chairman Managing Director transferred nor retained substantially all the risks and rewards of the asset, nor transferred control of the asset, the asset is recognized to the
extent of the Bank's continuing involvement in the asset. Continuing involvement that takes the form of a guarantee over the transferred asset is

: measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Bank could be required to

See accompanying notes. pay.

See Auditors’ Report.

When continuing involvement takes the form of a written and/or purchased option (including a cash-settled option or similar provision) on the
transferred asset, the extent of the Bank’s continuing involvement is the amount of the transferred asset that the Bank may repurchase, except
that in the case of a written put option (including a cash-settled option or similar provision) on an asset measured at fair value, the extent of the

FIRSTCARIBBEAN INTERNATIONAL BANK (BAHAMAS) LIMITED Bank’s s continuing involvement is limited to the lower of the fair value of the transferred asset and the option exercise price.

NOTES TO CONSOLIDATED BALANCE SHEET ' ii) “Financial liabilities
October 31, 2007 : A financial liability is derecognized when the obligation under the liability is discharged, cancelled or expires. Where an existing financial

(Expressed in thousands of Bahamian dollars) liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially
modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability.

1. General information

: 2.8 Repurchase and reverse repurchase agreements
FirstCaribbean International Bank (Bahamas) Limited (“The Bank”) was formerly named CIBC Bahamas Limited (“CIBC Bahamas”) and was
controlled by Canadian Imperial Bank of Commerce (CIBC) a company incorporated in Canada. The Bank changed its name to FirstCaribbean Securities sold under agreements to repurchase at a specified future date (‘repos’) are not derecognized from the consolidated balance sheet. The
International Bank (Bahamas) Limited on October 11, 2002, following the combination of the retail, corporate and offshore banking operations of corresponding cash received, including accrued interest, is recognized on the balance sheet as a ‘Cash collateral on securities lent and repurchase
Barclays Bank PLC in The Bahamas and the Turks & Caicos Islands (“Barclays Bahamas”) and CIBC Bahamas. agreements’, reflecting its economic substance as a loan to the Bank and are reflected in other borrowed funds (sce Note 15). The difference
, i es : : : 5 . n sree between the sale and repurchase prices is treated as interest expense and is accrued over the life of the agreement using the effective interest rate
The Bank is a subsidiary of FirstCaribbean Intemational Bank Limited, formerly CIBC West Indies Holdings Limited (the “Parent” or “FCIB"), a method. Where the transferee has the right to sell or pledge the asset, the asset is recorded on the balance sheet as ‘Financial assets held for
company incorporated in Barbados. The Parent is owned by CIBC. From October 11, 2002, the major shareholders of FirstCaribbean International trading pledged as collateral’.
Bank (Bahamas) Limited were jointly CIBC and Barclays Bank PLC, (“Barclays”), a company incorporated in England. On December 22, 2006, CIBC
acquired Barclays’s interest in the Bank and now owns 91.4% of the shares of FirstCaribbean Intemational Bank Limited. Conversely, securities purchased under agreements to resell at a specified future date (‘reverse repos’) are not recognized on the balance sheet.
7 4 é * ‘ ; . The corresponding cash paid, including accrued interest, is recognized on the balance sheet as a ‘Cash collateral on securities borrowed and
The registered office of the Bank is located at the FirstCaribbean Financial Centre, 2nd Floor, Shirley Street, Nassau, aed Teverse beifthate caieuienls and are reflected in loans and advances to customers (see Note 9). The difference between the purchase and
Summary of significant accounting policies resale prices is treated as interest income and is accrued over the life of the agreement using the effective interest rate method.
The principal accounting policies applied in the preparation of the consolidated balance sheet are set out below. 29 Impairment of financial assets
2.1 Basis of presentation The Bank assesses at each balance sheet date whether there is objective evidence that a financial asset or group of financial assets is impaired. A
The consolidated balance sheet has been prepared o on a historical cost basis, except for available-for-sale investments, derivative financial financial asset or a group of financial assets is deemed to be impaired and impairment losses are incurred if, and only if there is objective
instruments and financial assets and financial liabilities held at fair value through profit or loss, that have been measured at fair value. The evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a loss event ) and that loss event
carrying values of recognized assets and liabilities that are hedged items in fair value hedges, and otherwise carried at cost, are adjusted to record (or events) has an impact on the future cash flows of the financial asset or group of financial assets that can be reliably estimated. Objective
changes in fair value attributable to the risks that are being hedged. The consolidated balance sheet is presented in Bahamian dollars, and all evidence that a financial asset or group of financial assets is impaired includes observable data that comes to the attention of the Bank about the
values are rounded to the nearest thousand dollars, except when otherwise indicated. following loss events: °
Statement of compliance i) significant financial difficulty of the issuer or obligor;
ii) a breach of contract, such as a default or delinquency in interest or principal payments;
The consolidated balance sheet of the Bank has been prepared in accordance with Intemational Financial Reporting Standards (IFRS). iii) the Bank granting toa borrower, for economic or legal reasons relating to the borrower’s financial difficulty, a concession that the lender
would not otherwise consider;
Basis of consolidation iv) it becoming probable that the borrower will enter bankruptcy or other financial reorganisation;
Subsidiary undertakings, which are those companies in which the Bank directly or indirectly has an interest of more than one half of the voting v) _ the disappearance of an active market for that financial asset because of financial difficulties; or ; é
rights or otherwise has power to exercise control over the operations, have been fully consolidated. The principal subsidiary undertakings are vi) observable data indicating that there is a measurable decrease in the estimated future cash flows from a group of financial assets since the
disclosed in Note 27. Subsidiaries are consolidated from the date on which the effective control is transferred to the Bank. They are de- initial recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in the group, including:
consolidated from the date that control ceases. - adverse changes in the payment status of borrowers in the group; or
- national or local economic conditions that correlate with default on the assets in the group.
All inter-company balances have been eliminated. Where necessary, the accounting policies used by subsidiaries have been changed to ensure
consistency with the policies adopted by the Bank. If there is objective evidence that an impairment loss on loans and advances to customers or held-to-maturity investments carried at amortized
cost has been incurred, the amount of the loss is measured as the difference between the carrying amount and the recoverable amount, being the
The purchase method of accounting is used to account for the acquisition of subsidiaries by the Bank. The cost of an acquisition is measured as estimated present value of expected cash flows, including amounts recoverable from guarantees and collateral, discounted based on the current
the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of the exchange, plus costs directly effective interest rate.
attributable to the acquisition. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are
measured initially at their fair values at the date of acquisition, irrespective of the extent of any minority interest. The excess of the cost of When a loan is uncollectible, it is written off against the related provision for impairment; subsequent recoveries are credited to the provision for
acquisition over the fair value of the Bank’s share of the identifiable net assets acquired is recorded as goodwill. If the cost of the acquisition is impairment losses. If the amount of the impairment subsequently decreases due to an event occurring after the write-down, the release of the
less than the fair value of the net assets of the subsidiary acquired, the difference is recognized immediately in the current period. provision is credited to the provision for loan loss impairment in the current period.
Bio, -Significant accounting jndgments and estimates ; In circumstances where central bank guidelines and regulatory rules require provisions in excess of those calculated under IFRS, the difference is
In the process of applying the Bank's accounting policies, management has used its judgments and made estimates in determining the amounts accounted for as an appropriation of retained earings and is included in a non-distributable general banking reserve.
recognized in So consolidated balance sheet. The most significant use of judgments and estimates are as follows: 2.10 Impairment of non-financial assets
Impairment losses on loans and advances , . 5 thea? .
The Bank reviews its loan portfolios to assess impairment at least on a quarterly basis. In determining Whether an impairment loss should be rhs Bank pssesses 2 cach Teporling date or_more frequently af events oF changes ny CITCUMSIANCES indicate. that the carrying value may be
recorded, the Bank makes judgements as to whether there is any objective evidence indicating that there is a measurable decrease in the impaired, whether there is an indication that a non-financial asset may be impaired. If any such indication exists, or when annual impairment
estimated future cash flows from a portfolio of loans before the decrease can be identified with an individual loan in that portfolio. This testing for an asset is required, the Bank makes an estimate of the asset's recoverable amount. Where the carrying amount of an asset (or cash-
evidence may include observable data indicating that there has been an adverse change in the payment status of borrowers in a group, or national generating unit) exceeds its recoverable amount, the asset (or cash-generating unit) is considered impaired and is written down to its recoverable
or local economic conditions that correlate with defaults on assets in the group. Management uses estimates based on historical loss experience amount. ,
for assets with credit risk characteristics and objective evidence of impairment similar to those in the portfolio when scheduling its future cash
flows. The methodology and assumptions used for estimating both the amount and timing of future cash flows are reviewed regularly to reduce For assets, excluding goodwill, an assessment is made at each reporting date as to whether there is any indication that previously recognized
any differences between loss estimates and actual loss experience. ; impairment losses may no longer exist or may have decreased. If such indication exists, the recoverable amount is estimated. A previously
recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since
Retirement benefit obligations the last impairment loss was recognized. If that is the case, the carrying amount of the asset is increased to its recoverable amount. Impairment
Accounting for some retirement benefit obligations requires the use of actuarial techniques to make a reliable estimate of the amount of benefit losses relating to Goodwill cannot be reversed for subsequent increases in its recoverable amount in future periods.
that employees have earned in retum for their service in the current and prior periods. These actuarial assumptions are based on managements’
best estimates of the variables that will determine the ultimate cost of providing post-employment benefits and comprise both demographic and 2.411 Offsetting financial instruments

financial assumptions. Variations in the financial assumptions can cause material adjustments in the next financial year if it is determined that
the actual experience differed from the estimate.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the
recognized amounts and there is an intention to settle on a net basis, or realize the asset and settle the liability simultaneously.
PAGE 8B, TUESDAY, APRIL 15, 2008

2.12

2.13

2.14

2.15

2.16

217

2.18

2.19

2.20

2.21

2.22



Derivative financial instruments and hedge accounting

The Bank makes use of derivative instruments to manage exposure to interest rate, foreign currency and credit risks, including exposures arising
from forecast transactions. In order to manage particular risks, the Bank applies hedge accounting for transactions that meet the specified criteria.

The Bank’s criteria for a derivative instrument to be accounted for as a hedge include:

i) At inception of the hedge relationship, the Bank formally documents the relationship between the hedged item and the hedging
instrument, including the nature of the risk, the objective and strategy for undertaking the hedge and the method that will be used to
assess the effectiveness of the hedging relationship

ii) Also at the inception of the hedge relationship, a formal assessment is undertaken to ensure the hedging instrument is expected to be
highly effective in offsetting the designated risk in the hedged item. Hedges are formally assessed cach quarter. A hedge is regarded
as highly effective if the changes in fair value or cash flows attributable to the hedged risk during the period for which the hedge is
designated are expected to offset in a range of 80% to 125%. For situations where that hedged item is a forecast transaction, the Bank
assesses whether the transaction is highly probable and presents an exposure to variations in cash flows that could ultimately affect
the current year's operations. The hedge is expected to be highly effective in offsetting the risk in the hedged item throughout the
reporting period; and;

iii) The hedge is highly effective on an ongoing basis.

Derivatives are initially recognized in the balance sheet at their fair value based on settlement date. Fair values are obtained from discounted
cash flow models, using quoted market interest rates. All derivatives are carried as assets when fair value is positive and as liabilities when fair

value is negative.

The method of recognizing the resulting fair value gain or loss depends on whether the derivative is designated as a hedging instrument, and if
so, the nature of the item being hedged. The Bank designates certain derivatives as either: (1) hedges of the fair value of recognized assets or
liabilities (fair value hedge); or (2) hedges of highly probable cash flows attributable to a recognized asset or liability (cash flow hedge). Hedge
accounting is used for derivatives designated in this way provided certain criteria are met.

(1) Fair value hedges 7
Changes in the fair value of derivatives that are designated and qualify as fair value hedges and that prove to be highly effective in relation
to hedged risk, are recorded in the current period, along with the corresponding change in fair value of the hedged asset or liability that is
attributable to that specific hedged risk.

If the hedging instrument expires or is sold, terminated or exercised, or where the hedge no longer meets the criteria for hedge accounting,
the hedge relationship is terminated.

For hedged items recorded at amortized cost, using the effective interest rate method, the difference between the carrying value of the
hedged item on termination and the face value is amortized over the remaining term of the original hedge. If the hedged item is
derecognized, the unamortized fair value adjustment is recognized. , .

(2) Cash flow hedges
The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges are recognized in
equity in the revaluation reserve—cash flow hedges. The gain or loss relating to the ineffective portion is recognized immediately.

Amounts accumulated in equity are recorded in the period in which the hedged item will affect current year operations (for example, when
the forecast sale that is hedged takes place).

When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any cumulative gain or
loss existing in equity at that time remains in equity and is recognized when the forecast transaction is ultimately recognized. When a
forecast transaction is no longer expected to occur, the cumulative gain or loss that was reported in equity is immediately recognized.

Goodwill

Goodwill represents the excess of the cost of an acquisition over the fair value of the net identifiable assets of the acquired subsidiary
undertaking at the date of acquisition and is reported in the balance sheet as an intangible asset. Goodwill is tested annually for impairment and
carried at cost less accumulated impairment losses. Goodwill is allocated to lowest levels for which there are separately identifiable cash flows
(cash-generating units) for the purpose of impairment testing. An impairment loss is recognized for the amount by which the asset’s carrying
value exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use.

Property and equipment

Land and buildings comprise mainly branches and offices. All property ‘and equipment are stated at historical cost less accumulated
depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Changes in the expected useful life
are accounted for by changing the amortization period or method, as appropriate, and treated as changes in accounting estimates.

Subsequent costs are included in the asset’s carrying amount or are recognized as a separate asset, as appropriate, only when it is probable that
future economic benefits associated with the item will flow to the Bank and the cost of the item can be measured reliably. All other repairs and
maintenance are recognized during the financial period in which they are incurred.

Land is not depreciated. Depreciation on other assets is computed ising the straight-line method at rates considered adequate to write-off the
cost of depreciable assets, less salvage, over their useful lives. ;

The annual rates used are:

- Buildings : 24% *

- Leasehold improvements 10% or shorter life of the lease
- Equipment, furniture and vehicles 20-50%

Assets that are subject to depreciation are reviewed for impairmg@ whenever events or changes in circumstances indicate that the carrying
amount may not be recoverable. Where the carrying amount of af asset is greater than its estimated recoverable amount, it is written down
immediately to its recoverable amount. The asset’s recoverable amount is the higher of the asset’s fair value less costs to sell and the value in
use. Gains and losses on disposals are determined by comparing proceeds with carrying amounts and are recognized in the current period.

Leases
Operating lease payments are recognised as an expense on a straight-line basis over the lease term.
Provisions

Provisions are recognized when the Bank has a present legal or constructive obligation as a result of past events, it is more'than likely that an
outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate of the amount of the
obligation can be made.

Retirement benefit obligations

i) Pension obligations
The Bank operates a pension plan, the assets of which are held in a separate trustee-administered find. The pension plan is funded by
payments from employees and the Bank, taking account of the recommendations of independent qualified actuaries. The plan has
defined benefit sections and a defined contribution section.

A defined benefit plan is a pension plan that defines an amount of pension benefit to be provided, usually as a function of one or more
factors such as age, years of service or compensation. A defined contribution plan is a pension plan under which the Bank pays fixed
contributions into a separate entity (a fund) and will have no legal or constructive obligations to pay further contributions if the fund does
not hold sufficient assets to pay all employee benefits relating to employee service in the current and prior periods.

The liability recognized in the balance sheet in respect of defined benefit sections of the plan is the present value of the defined: benefit
obligation at the balance-sheet date minus the fair value of plan assets, together with adjustments for unrecognized actuarial gains/losses
and past service costs. The defined benefit obligation is calculated periodically by independent actuaries using the projected unit credit
method. The present value of the defined benefit obligation is determined by the estimated future cash outflows using, interest ‘rates of
government securities that have terms to-maturity approximating the terms of the related liability. The pension plan is a final salary plan
and the charge for such pension plan, representing the net periodic pension cost less employee contributions is included in staff costs.

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are recognized over the expected
average service lives of the related employees. Past service costs are recognized immediately, unless the changes to the pension plan are
conditional on the employees remaining in service fora specified period of time (the vesting Period). In this case, past service costs are
amortized on a straight-line basis over the vesting period.

For the defined contribution section of the plan, the Bank makes contributions to a private trustee-administered fund. Once the
contributions have been paid, the Bank has'no further payment obligations. The regular contributions constitute net periodic costs for the
year in which they are due and as such are recognized in the current period. The Bank's contributions in respect of the defined
contribution section of the plan are recognized in the year to which they relate.

(ii) Other post retirement obligations
The Bank provides post-retirement healthcare benefits to its retirees, The entitlement to these benefits is usually based on the employee
remaining in service up to retirement age and the completion of a minimum service period. The expected costs of these benefits are
accrued over the period of employment, using a methodology similar to that for defined benefit pension plans. Actuarial gains and losses
arising|from experiertce adjustments and changes in actuarial assumptions are recognized over the expected average service lives of the
related employees. These obligations are valued periodically by independent qualified actuaries.

Borrowings

Borrowings are recognized initially at fair value and are subsequently stated at amortized cost, and any difference between net proceeds and the
redemption value is recognized over the period of the borrowings, usi&ig the effective interest yield method.

Share capital and dividends

@ Share issue costs
Shares issued for cash are accounted for at the issue price less any transaction costs associated with the issue. Shares issued as
consideration for the purchase of assets, or a business, are recorded at the market price on the date of the issue.”

(ii) Dividends on ordinary shares
Dividends on ordinary shares are recognized in equity in the period in which they are declared. Accordingly, dividends in respect of the
current year’s operations that are declared after the balance sheet are not reflected in the consolidated balance sheet.

Fiduciary activities

The Bank commonly acts as trustee and in other fiduciary capacities that result in the holding or placing of assets on behalf of individuals, trusts,
retirement benefit plans and other institutions. These assets arising thereon are excluded from this consolidated balance sheet, as they are not
assets of the Bank.

Income taxes
The Bank is not subject to income taxes in The Bahamas and the Turks and Caicos Islands.
Future changes in accounting policies

New standards, interpretations and amendments to published standards relevant to the Bank that are not yet effective
Certain new standards, interpretations and amendments to existing standards have been published that are mandatory for the Bank’s accounting
periods beginning on or after November 1, 2007 or later periods but which the’Bank has not early adopted, as follows:

« IAS 1, (Revised) Presentation of Financial Statements (effective from annual periods beginning on or after January 1, 2009). IAS 1
(Revised) will require the disclosure of all non-owner changes in equity either in one statement of comprehensive income or in two statements (a
separate consolidated statement of income and a statement of comprehensive income), will require additional disclosures about an entity’s
capital and will change the titles of financial statements.

* IAS 23 (Revised), Borrowing Costs (effective from annual periods beginning on or after January 1, 2009). IAS 23 will remove the option of
immediately recognising as an expense borrowing costs that relate to assets that take a substantial period of time to get ready for use or sale. An
entity will therefore now be required to capitalise borrowing costs as part of the'cost of such assets. The capitalisation of borrowing costs
relating to assets measured at fair value is not however required by IAS 23. :

¢ IFRS 7, Financial Instruments: Disclosures, and a complementary amendment to IAS 1, Presentation of Financial Statements — Capital
Disclosures (effective from annual periods beginning on or after January 1, 2007). IFRS 7 introduces new disclosures to improve the
information about financial instruments. It requires the disclosure of qualitative and quantitative information about exposure to risk arising from
financial instruments, including specified minimum disclosures about credit risk, liquidity risk and market risk, including sensitivity analysis to
market risk. It replaces IAS 30, Disclosures in the Financial Statements of Banks and Similar Financial Institutions, and disclosure requirements
in IAS 32, Financial Instruments: Disclosure and Presentation. It is applicable to all entities that report under IFRS. The amendment to IAS 1
introduces disclosures about the level of an entity’s capital and how it manages capital. The Bank assessed the impact of IFRS 7 and the
amendment to IAS 1 and concluded that the main additional disclosures will be Sensitivity analysis to market risk and the capital disclosures
required by the amendment to IAS 1.

* IFRS 8, Operating Segments (effective from annual periods beginning on or after January 1, 2009). IFRS 8 will replace IAS 14 Segments
Reporting and increases the level of disclosure required and extends the scope to include entities that: meet certain requirements.

¢ IFRIC 11, IFRS 2: Group and Treasury Share Transactions (effective from annual periods beginning on or after March 1, 2007). IFRIC 11
will provide guidance on applying IFRS 2 in three circumstances.

¢ IFRIC 12, Service Concession Arrangements (effective from annual periods beginning on or after January 1, 2008). IFRIC 12 gives
guidance on the accounting by operators for public-to-private service concession arrangement, and sets out general principles on recognizing and
measuring the obligations and related rights in such arrangements.

* IFRIC 13, Customer Loyalty Programmes (effective from annual periods beginning on or after July 1, 2008). IFRIC 13 specifically seeks
to explain how entities should account for their obligations to provide free or discounted goods and services (‘awards’) to customers who redeem
award credits.

¢ — IFRIC 14, The Limit on a defined Benefit Asset, Minimum Funding Requirements and ¢heir Interaction (effective from annual periods
beginning on or after January 1, 2008). IFRIC 14 addresses the inggpction between minimum funding requirements and the limit placed by
paragraph 58 of IAS 19 on the measurement of the defined benefit asSet or liability.

The Bank does not anticipate any material impact on the results of its operations from the implementation of these new standards when they

become effective. Additional disclosures related to the Bank’s management of risks and its capital will be required to comply with IFRS7 and
TAS | in 2008. ,

3. Cash and balances with central bank

2007 2006
$ $
Cash - 34,472 24,543
Deposits with The Central Bank - non-interest bearing 82,336 44,600
Cash and balances with central bank 116,808 69,143
Less: Mandatory reserve deposits with The Central Bank (53,269) (43,209)
Included in cash and cash equivalents as per below 63,539 25,934

Mandatory reserve deposits with The Central Bank of The Bahamas (The Central Bank) represent the Bank’s regulatory requirement to maint:
percentage of deposit liabilities as cash or deposits with The Central Bank. These funds are not available to finance the Bank's day-to-day operat

and, as such, are excluded from cash resources to arrive at cash and cash equivalents.









9.

10.

THE TRIBUNE

Cash and balances with The Central Bank are non-interest bearing.

Cash and cash equivalents

2007 2006
$ $

Cash and balances with The.Central Bank as per above 7 63,539 25,934 ,
Due from banks, included in cash and cash equivalents (Note 4) 142,606 154,150
A 206,145 180,084

Due from banks

2007 2006
$ $
(Restated)
Due from banks 151,796 295,514
Add: Accrued interest receivable 830 2,303
152,626 297,817

Due from banks comprises deposit placements and include amounts placed with other FirstCaribbean Bank entities of $ nil (2006 - $86) and deposi
placements with CIBC and Barclays entities of $217,008 (2006 - $230,778). The effective yield on deposit placements during the year was 4.6% (200¢
~ 3.3%).

Derivative financial instruments

The notional and fair value amounts under these contracts at October 31 are shown below:

Fair Values

Contract
/Notional
Amount Assets Liabilities
s $ $
October 31, 2007
Interest rate swaps 354,578 33,223 (28,812)
Currency forwards 102,276 3,490 -
Short sales 321,585 : (2,162)
36,713 (30,974)
October 31, 2006
Interest rate swaps : 654,154 1,983 (12,414)
Currency forwards : 102,276 : (0)

1,983 (12,424)

Currency forwards represent commitments to purchase foreign currency including undelivered spot transactions. The counterparty is Canadia:
Imperial Bank of Commerce-Toronto.

Financial assets at fair value through profit or loss



2007 2006
$ $
(Restated)
Financial assets held for trading
Government bonds - 495
Corporate bonds ; 14,904 241,556
Asset-backed securities 380,667 404,132
Other securities — investment fund : 394,902 -
790,473 646,183
Add: Interest receivable 1,834 6,098
Total Financial assets held for trading 792,307 652,281

The effective yield on the financial assets held for trading during the year was 3.5% (2006 — 5.7%).

Other assets

2007 2006
$ $
(Restated)

Branch clearings 13,593 10,726

Suspense accounts 2,070 (1,999)

Other accounts receivable, including clearings ‘ 16,056 26,731
Prepayments and deferred items 943 1,153

Due from related party : 3,000

32,662 39,611

The amount due from related party at October 31, 2006 was due on demand from Barclays Bank PLC and is interest-free.

Investment securities
2007 2006
$ $
Loans and advances to customers Restated)
Issued or guaranteed by Governments
— Debt securities - 156,898
: Available-for-sale securities
Government bonds 475,208 402,850
Corporate bonds 404,552 133,363
Total available-for-sale securities 879,760 536,213
879,760 693,111
Add: Interest receivable . 13,401 13,454
Total investment securities 893,161 706,565

Debt securities issued or guaranteed by the Government of The Bahamas amounted to $132,574 (2006 - $136,700). Government bonds ‘include U
Treasury Notes of $271,837, all of which have been pledged in support of the repurchase agreements described in Note 15. The effective yield durin
the year on investment securities was 6.4% (2006 — 6.2%).

The movement in investment securities may be sammarised as follows: ,
Loans and Available

advances -for-sale Total
$ $ $
Balance, beginning of year 2006 ‘ 158,523 7,500 166,023
Additions 9,350 533,774 543,124
Disposals — sale and redemption ‘ (10,975) (4,982) (15,957)
Loss from changes in fair value (79) (79
Balance, end of year 2006 156,898 536,213 693,111
Transfer between classifications (156,898) 156,898 -
Additions . 426,680 426,680
Disposals — sale and redemption - (236,453) (236,453)
Loss from changes in fair value (Note 18) (6,767) (6,767)
Gain from change in unamortized premium : 3,189 3,189
Balance, end of year 2007 - 879,760 879,760
Loans and advances to customers
2007 2006
$ $
(Restated)
Mortgages 1,105,365 1,025,949
Personal loans ; 322,286 333,866
Business loans 991,025 1,064,612
Government securities purchased under ,
- resale agreements 46,220 52,185
2,464,896 2,476,612
Add: Interest receivable 12,578 16,035
Less: Loan fee deferrals (19,760) (19,456)
Less: Provisions for impairment
- Specific provisions for credit risk (36,177) (39,680)
- General provisions for inherent risk (5,562) (7,560)
2,415,975 2,425,951

ee _

Movement in provisions for impairment is as follows:

Specific credit risk Inherent risk
provision provision
$ $s
Balance, October 31, 2005 (36,640) (6,377)
Doubtful debt expense (4,141)
Net movement in inherent risk provisions - (1,183)
Recoveries of bad and doubtful debts (1,344) -
Bad debts written off 2,445 7
Balance, October 31, 2006 (39,680) (7,560)
Doubtful debt expense (14,337)
Net movement in inherent risk provisions - 1,998
Recoveries of bad and doubtful debts (1,252) 7
Bad debts written off 19,092 .

Balance, October 31, 2007 (36,177 (5,562)

The average interest yield during the year on loans and advances was 8.3% (2006 — 8.4%). Impaired loans as at October 31, 2007 amounted t
$157,785 (2006 - $123,630). Included in business loans are advances to FCIB Jamaica totalling $88,754, which are pledged in favour of that bank i
support of loans granted to certain of its customers.

Property and equipment

Equipment,
Land and furniture Leasehold Total
buildings and vehicles improvements »« 2007
$ $ $s $s

Cost
Balance, November 1, 2006 18,535 32,386 12,051 62,972
Purchases 246 1,808 50 2,104
Disposals - (51) - (51)
Assets written off : (8 7 (8)
Balance, October 31, 2007 18,781 34,135 12,101 65,017

Naa eee eee ee




THE TRIBUNE

Accumulated depreciation
3alance, November 1, 2006 5,326 22,362 6,075 33,763
Depreciation 281 3,484 586 4,351
disposals : 51 - :G1
3alance, October 31, 2007 5,607 25,795 6,661 38,063
Net book value, October 31, 2007 13,174 8,340 5.440 26,954
Equipment,
Land and furniture Leasehold Total
bulidings and vehicles improvements 2006
$s s $ s
Cost
Balance, November 1, 2005 20,436 30,524 11,445 62,405
Purchases 450 1,438 84 1,972
Disposals (1,214) (191) = (1,405)
vransfers (1,137) 615 522 :
3alance, October 31, 2006 18,535 32,386 12,051 62,972
Accumulated depreciation
Balance, November 1, 2005 5,282 19,898 5,460 30,640
Depreciation 322 2,614 600 3,536
Disposals (224) (189) : (413)
Transfers (54) 39 15 :
salance, October 31, 2006 5,326 22,362 6,075 33,763
Net book value, October 31, 2006 13,209 10,.24 5,976 29,209

11. ctirement benefit assets and obligations

(he Bank has an insured group health plan and a pension plan. The pension plan is a mixture of defined benefit and defined contribution schemes. The
defined benefit sections of the scheme are non-contributory and allow for additional voluntary contributions. The insured health plan allows for retirees
1o continue receiving health benefits during retirement. Independent actuaries value the plan every three years. The most recent actuarial valuations of
ne plan assets and the present value of the defined benefit obligation were carried out as at November 1, 2004. At November 31, 2004, the valuation
-evealed a fund surplus of $20.0million.

The amounts recognized on the consolidated balance sheet are determined as follows:

Defined benefit Post retirement
pension plans medical benefits
2007 2006 2007 : ~ 2006
$ $ $s $
Fair value of plan assets 92,254 83,149 - -
Present value of funded obligations (68,189) (56,398) G,582) (9,368)
24,065 26,751 (3,582) (9,368)
Unrecognized actuarial gain (10,563 13,097 232) 2,240)
Net asset/(liability) 13,502 13,654 : 3,814) 11,608

The pension plan assets include 100,000 ordinary shares in the Bank.
The actuarial retum on plan assets for the defined benefit sections of the pension plan is $10,680 (2006: $6,494).
The amounts recognized in the current period are as follows:

Defined benefit



Post retirement
pension plans medical benefits
2007 2006 2007 2006
s $ $ : $
Current service costs 2,854 2,873 519 526
Curtailment and settlement costs (324) ' (378) (8,860) (52)
Expected retum on plan assets (6,177) (6,158) ~ 6 -
Interest cost 3,800 3,598 639 : 639
Total amount included in staff costs 153 : (65 7,702) 1,113
The movements in the net asset/(liability) recognized on the consolidated balance sheet are as follows:
Defined benefit Post retirement
pension plans medical benefits
2007 2006 / 2007 2006
$s $ $ $
Balance, beginning of year 13,654 13,597 (11,608) (10,600)
Charge for the year (153) 65 7,702 “(1,113)
Contributions paid : (8) = 7
Employer premiums for existing retirees - : 92 105
Foreign exchange translation gain 1 : - -
Balance, end of year 13,502 - 13,654 (3,814) (11,608)
Changes in the present value of the defined benefit obligation are as follows:
, 2087 2006
‘$s s
Present value of funded obligations at beginning of year 56,398 50,440
Interest cost 3,800 3,598
Customer service cost 2,854 2,873
Benefits paid (1,575) (963)
Actuarial loss on obligation 6,712 450
Present value of funded obligation at end of year 68,189 56,398
ew aheidne ae thee wut bbaeld
Changes in fair value of the plan assets arc as follows:
2007 2006
$ $
Fair value of plan assets at beginning of ycar 83,149 77,449
Expected return on plan assets 6,177 6,158
Benefits paid (1,575) > (963)
Actuarial gain on plan assets 4,503 505
Fair value of plan assets at end of ycar 92,254 83,149

The Bank expects to contribute $290 to its defined benefit pension plan in 2008.

The major categories of plan assets as a percentage of the fair value of total plan assets are as follows:

2007 2006
Equity instruments 64% 64%
Debt instruments : 35% 35%
_Other assets 1% 1%

The overall expected rate of return on plan assets is determined based on market prices and conditions.

The principal actuarial assumptions used at the balance sheet date are as follows:

Defined benefit
pension plans
2007 2006
Discount rate . 6.0% 6.5%
Expected retum on plan assets 7.5% 8.0%
Future salary increases 4.5% 45%
Future pension increases 1.5% 1.5%

Post retirement

medical benefits
2007 2006
Discount rate : 6.3% 6.5%
Premium escalation rate ‘ 4.5% 4.5%
Existing retiree age 7 60 64

The present value of the defined benefit obligation, the related current service cost and past service cost was measured using the Projected Unit Method.

Amounts for the current and previous year are as follows:

2007 2006

$ $

Defined benefit obligation (68,189) (56,398)

Plan assets 92,254 83,149

Surplus 24,065 26,751
Experience adjustments on plan

liabilities 6,712 450

Experience adjustments on plan assets . 4,503 505

Impact of changes in medical premium escalation rate

The impact of a 1% change in the medical premium escalation assumption on the sum of the current service cust and on the present value of the obligation is
shown in the table below. .

Change of -1% in
medical premium

Change of +1% in
medical premium



escalation rate escalation rate
$ 7 $
Current Service Cost + Interest Cost
Present Value of Obligation
12. Goodwill
2007 2006
$ $
Carrying amount, October 31 187,747 187,747. «

Bas


13. Customer deposits



a EE Ee

Included in deposits from banks are deposits from other FirstCaribbean Bank entities of $600,452 (2006 - $484,877) and deposits from CIBC and
Barclays Bank PLC entities of $13,463 (2006 - $12,757).

The effective rate of interest on deposits during the year was 3.4% (2006 — 3.8 %).

Payable on Payable Payable at a 2007 2006

demand after notice fixed date * Total Total

$s $s $ $s s

Individuals 130,846 180,166 943,418 1,254,430 1,060,998
Business and governments 712,115 29,892 997,229 1,739,236 1,887,731 .

Banks 2,636 - 641,720 644,356 535,471

845,597 210,058 2,582,367 3,638,022 3,484,200

Add: Interest payable 364 333 22,687 23,384 19,703

845,961 210,391 2,605,054 3,661,406 3,503,903

14.

15.

16,

17.

18.

19.

20.



.Net gain (loss) from changes in fair value of available-for-sale investment securities H

TUESDAY, APRIL 15, 2008, PAGE 9B

Debt securities in issue
2007 2006 i
$ $
Notes payable 20,000 -
Add: Interest payable 620 -
20,620 -

ed

During the year, the Bank issued $20 million in redeemable floating rate notes, with interest payable at a rate of Bahamas Prime plus 0.75% per
annum. The notes, which are unsecured, will mature on November 3, 2011, but may be redeemed at the option of the Bank.

Other borrowed funds
2007 2006
$ $
Repurchase agreements 273,544 280,692
Add: Interest payable 4,627 652

278,171 281,344

The Bank sold under repurchase agreements, investment securities having a fair value of $271,837 (2006: $279,337) and maturities between November
2007 and February 2008 (2006 — January 2007). The effective rate of interest on these borrowings during the year was 4.9% (2006-5.17%).



Other Habilities
2007 2006
s $
(Restated)
Accounts payable and accruals 23,553 15,156
Duc to brokers 4,835 -
Payroll liabilitics —- , 1,750 592
Amount due to related parties : 2,196
30,138 17,944
The amount due to related parties refers to balances duc to other FirstCaribbean Bank entities as well as CIBC and Barclays Bank PLC or their
subsidiaries.
Share capital
The Bank’s authorised capital is $20 million, comprising 150 million ordinary shares with a par value of $0.10 each and 50 million preference shares
also having a par value of $0.10 cach. All issued shares are fully paid. At October 31, 2007 and 2006, the issued share capital was as follows:
Number of shares Share Share .
par value premium Total
$ $ $
Ordinary shares, voting . 120,216,204 12,022 465,208 477,230
Share capital and reserves
2006
2007 $ e
$ (Restated)
Share capital (Note 17) 477,230 477,230
Reserves ,
Statutory reserve fund - Turks and Caicos Islands 12,000 6,800
Statutory loan loss reserve - Bahamas 16,495 14,661
Revaluation reserve — available for sale securities (5,862) 905
Reverse acquisition reserve (63,566) (63,566) -
Total reserves (40,933) (41,200)
Total share capital and reserves 436,297 “436,030

Under the Banking (Amendment) Ordinance 2002 of the Turks and Caicos Islands (TCI), the Bank was required in 2004 to assign capital to the TCI
operations in the amount of $24 million.

The movements im reserves were as follows:

2007 2006
$s $s
Statutory reserve fund — Tarks and Caicos Islands
Balance, beginning of year 6,800 2,800
Transfers from retained eamings 5,200 4,000
Balance, end of year 12,000 6,800

In accordance with the Banking (Amendment) Ordinance 2002 of the TCI, the Bank is required to maintain a statutory reserve fund of not less than the
amount of its assigned capital. Where it is less than the assigned capital, the Bank is required to annually transfer 25% of its net profit eamed from its
TCI operations to this fund. The Bank's practice is to make this transfer based on net profits of the preceding fiscal year. During the year the Bank
transferred $5,200 (2006: $4,000) from retained camings to the statutory reserve fund. .

2007 2006
s $
(Restated)
Revaluation reserve — avaitable-for-sale investment securities
Balance, beginning of year 905 -





(Note'8) . : : !
‘ Balance, end of year Ne S862) 905" * j
2007 2006 « H
$s $
Revaluation reserve — cash flow hedges
Balance, beginning of year - 817
Net loss from changes in fair value \ ° , : 817
Balance, end of year - -
2007 2006
$ $
Statutory loan loss reserve — Bahamas
Balance, beginning of year 14,661 -
Transfers from retained earnings : 1,834 14,661

14,661

Balance, end of year 16,495 A

Banking Regulations of The Central Bank of The Bahamas require a general provision in respect of the performing loans of at least one percent of these
foans. To the extent the inherent risk provision for loans and advances to customers is less than this amount, a statutory loan loss reserve has been
established and the required additional amount has been appropriated from retained camings, in accordance with IFRS.

Reverse acquisition reserve
2007 2006

$s $s
(63,566) (63,566)

At October 11, 2002, the equity of the Bank comprised the equity of Barclays Bahamas together with the fair value of the consideration given to acquire
CIBC Bahamas. However, legally the share capital of the Bank comprised the issued share capital of CIBC Bahamas plus the shares issued to effect the
combination, recorded at fair value. The reverse acquisition reserve is therefore the difference between the legally required share capital together with
the retained camings of Barclays Bahamas, and the equity of the Bank presented in accordance with IFRS.

Reverse acquisition reserve, beginning and end of year

Dividends
2007 2006
s $s
Declared and paid during the year
First dividend $0.25 cents (2006-$0.30) 30,054 36,065
Final dividend $0.22 cents (2006-$0.25) 26,445 30,054
56,499 66,119

Total dividends declared and paid

At the Board of Directors meeting held on December 17, 2007, a final dividend of $0.25 per share amounting to $30,054 was proposed and declared.
The consolidated balance sheet for the year ended October 31, 2007 do not reflect this resolution, which will be accounted for in equity as a distribution
of retained camings in the year ending October 31, 2008.

Related party balances

As discussed in Note 1, the Bank’s Parent and major shareholder is FirstCaribbean Intemational Bank Limited who owns 95.2% of the Bank’s ordinary
shares. From October 11, 2002, the Bank’s major shareholders were jointly CIBC and Barclays. On December 22, 2006, CIBC acquired Barclays’s
interest in the Bank and now owns 91.4% of the shares of The Bank’s Parent (FCIB). The remaining shares are widely held.

A number of banking transactions are entered into with related parties in the normal course of business. Outstanding balances at year-end and
transactions during the year are as follows:

Directors and key Major shareholder Ultimate
management personnel and associated banks Shareholders
2007 2006 2007 2006 2007 2006
$ s s $s $ $
Balances:
Due from banks - : 7 86 117,986 230,778
Loans and advances .
to customers 2,939 2,011 89,169 88,754 - -
Deposit liabilities 4,152 5,869 600,452 484,877 13,905 12,757

ee a

i) The agreement with Barclays Bank PLC whereby the Bank received an annual payment from Barclays Bank PLC of $10,000 effective
January 1, 2002, as an incentive for the Bank to retain its deposit placements with Barclays Capital expired on December 31, 2005.
ii) Expenses incurred in relation to banking and support services.

Contingent liabilities and commitments .

The Bank conducts business that involves guarantees, performance bonds and indemnities, which are not reflected in the consolidated balance sheet. At
the balance sheet date the following contingent liabilities and commitments exist:

‘ 2007 2006

s s

Letters of credit 47,728 60,881
Loan commitments 290,738 358,191
Guarantees and indemnities , 25,124 16,067

363,590 435,139

The Bank is the subject of legal actions arising in the normal course of business. Management considers that the liability, if any, of these actions would
not be material.

22. Future rental commitments under operating leases

As at October 31, 2007 the Bank held leases on buildings for extended periods. The future rental commitments under these leases are as follows:

2007 2006
s Ss

{
Not later than | year 2,220 2,695
Later than | year and not more than 5 ycars 4,552 6,104
Later than 5 years 1,291 2,428
8,063 11,227

SS
PAGE 10B, TUESDAY, APRIL 15, 2008 THE TRIBUNE

E. Cash flow and fair value interest rate risk

23. Business segments
The Bank operates four main lines of business organised along customer segments, but also includes treasury operations as a reportable segment.

1. Retail Banking is organized along four product lines: Premier Banking (dedicated relationship management), Home Finance (mortgages),
Consumer Finance & Credit Cards and Asset Management & Insurance.

2. Corporate Banking comprises three customer sub-segments: Corporate Business, Commercial Business and Business Banking. Corporate Banking
offers deposit and investment products, borrowing and cash management products, merchant card services and trade finance.

3. International Wealth Management is organized into four segments: Intemational Personal, International Premier, International Mortgages and
Intemational Corporate. The Personal Banking segment specializes in currency accounts, deposit accounts, U.S. dollar credit cards and
international mutual funds. The Premier Banking segment offers each client a personal relationship manager in addition to all of the products and
services offered by the Personal Banking segment. The International Mortgage group provides funding in U.S. dollars, to non-residents secking to
purchase second homes for personal use or as an investment. The International Corporate Banking segment specializes in providing banking
services to businesses and professional intermediaries at international financial centres.

4. The Capital Markets segment provides issuers and investors with access to larger pools of capital and greater investment opportunities. It acts for
and on behalf of large business and sovereign clients who seek both equity and debt capital instruments and facilitates the expansion of the

existing secondary market capabilities in the region.

The Treasury Group manages the interest rate, foreign exchange and liquidity risks of the Bank. In addition, the Treasury Group conducts foreign
exchange transactions on behalf of clients, where possible, and hedges fixed rate loans and investments with interest rate swaps.

Transactions between the business segments are generally on normal commercial terms and conditions.

Funds are ordinarily allocated between segments, resulting in funding costs transfers. Interest charged for these funds is based on the Bank’s funds
transfer pricing. There are no other material items of income or expense between the segments.

Segment assets and liabilities comprise operating assets and liabilities, being the majority of the consolidated balance sheet, but exclude items such as
borrowings.

Internal charges and transfer pricing adjustments have been reflected in the performance of each business.

Retail Corporate International Capital

Banking Banking WealthMgt Markets Treasury Other Eliminations Total
s s s s Ss s s s

October 31, 2007
Total assets 1,060,298 1,248,973 204,514 33,124 1,859,810 261,208 (72) 4,668,455
Total liabilities 486,987 946,534 1,647,465 : 915,419 30,575 (1,857) 4,025,123



Retail Corporate Internationals Capital

Banking Banking WealthMgt Markets Treasury Other Eliminations Total
s s s s $ Ss s $

October 31, 2006
Total assets 1,241,828 1,054,552 1,314,637 11,257 503,258 313,970 15,541) 4,423,961
Total liabilities 790,623 864,807 1,364,016 - 803,352 18,966 (14,841) _ 3,827,223



Geographical segments are set out in Note 24 (c).
24. Financial risk management

A. Strategy in using financial instruments

By its nature the Bank’s activities are principally related to the use of financial instruments. The Bank accepts deposits from customers at both
fixed and floating rates and for various periods and seeks to eam above average interest margins by investing these funds in high quality assets.
The Bank seeks to increase these margins by consolidating short-term funds and lending for longer periods at higher rates whilst maintaining
sufficient liquidity to meet all claims that might fall due.

The Bank also seeks to raise its interest margins by obtaining above average margins, net of provisions, through lending to commercial and retail
borrowers with a range of credit standing. Such exposures involve not just on-balance’ sheet loans and advances but the Bank also enters into
guarantees and other commitments such as letters of credit and performance and other bonds.

B. Credit risk

The Bank takes on exposure to credit risk which is the risk that a counter party will be unable to pay amounts in full when duc. The Bank
structures the levels of credit risk it undertakes by placing limits on the amount of risk accepted in relation to one borrower, or groups of borrowers,
and to geographical and industry segments. Such risks are monitored on a revolving basis and subject to an annual or more frequent review.

The exposure to any one borrower including banks and brokers is further restricted by sub-limits covering on and off-balance sheet exposures and
daily delivery risk limits in relation to trading items such as forward foreign exchange contracts. Actual exposures against limits are monitored
daily.

Exposure to credit risk is managed through regular analysis of the ability of borrowers and petential borrowers to meet interest and capital
repayment obligations and by changing these lending limits where appropriate. Exposure to credit risk is also managed in part by obtaining
collateral and corporate and personal guarantees, but a significant portion is personal lending where no such facilitics can be obtained.

Derivatives

The Bank maintains strict control limits on net open derivative positions, that is, the difference between purchase and sale contracts, by both
amount and term. At any one time the amount subject to credit risk is limited to the current fair value of instruments that are favourable to the
Bank (i.e. assets), which in relation to derivatives is only a small fraction of the contract or notional values used to express the volume of
instruments outstanding. This credit risk exposure is managed as part of the overall lending limits with customers, together with potential
exposures from market movements. Collateral or other security is not usually obtained for credit risk exposures on these instruments, except where
the Bank requires margin deposits from counterparties.

Master netting arrangements

The Bank further restricts its exposure to credit losses by entering into master netting arrangements with counterparties with which it undertakes a
significant volume of transactions. Master netting arrangements do not generally result in an offset of balance sheet assets and liabilities as
transactions are usually settled on a gross basis. However, the credit risk associated with favourable contracts is reduced by a master netting
arrangement to the extent that if an event of default occurs, all amounts with the counterparty are terminated and settled on a net basis. The Bank’s
overall exposure to credit risk on derivative instruments subject to master netting arrangements can change substantially within a short period since
it is affected by each transaction subject to the arrangement.

Credit related commitments

The primary purpose of these instruments is to ensure that funds are available to a customer as required. Guarantecs and standby letters of credit,
which represent irrevocable assurances that the Bank will make payments in the event that a customer canno* meet its obligations to third parties,
carry the same credit risk as loans. Documentary and commercial letters of credit, which are written undertakings by the Bank on behalf of a
customer authorizing a third party to draw drafts on the Bank up to a stipulated amount under specific terms and conditions, are collateralized by
the underlying shipments of goods to which they relate and therefore carry less risk than a direct borrowing. %

Commitments to extend credit represent unused portions of authorizations to extend credit in the form of loans, guarantees or letters of credit. With
respect to credit risk on commitments to extend credit, the Bank is potentially exposed to loss in an amount equal to the total unused commitments.
However, the likely amount of loss is less than the total unused commitments since most commitments to extend credit are contingent upon
customers maintaining specific credit standards. The Bank monitors the term of maturity of credit commitments because longer-term commitments
generally have a greater degree of credit risk than shorter-term commitments.

C. Geographical concentration of assets, liabilities and off-balance sheet items

The following note incorporates IAS 32 credit risk disclosures, [AS 30 geographical concentrations of assets, liabilities and off-balance sheet items
disclosures and a public enterprise’s IAS 14 secondary segment disclosures:

Total Total

. : assets liabilities Credit
s S$ commitments $
October 31, 2007
Bahamas 4,059,396 3,476,528 304,725
Turks & Caicos Islands 609,059 548,595 58,865
4,668,455 4,025,123 363,590
Totai Total
assets liabilities Credit
$ $ commitments $
October 31, 2006
(Restated)
. Bahamas 3,863,652 3,316,886 332,371
Turks & Caicos Islands 560,309 510,337 102,768 .
4,423,961 3,827,223 435,139

The Bank is managed based on the five business segments, and it operates in two main geographical areas. The Bank’s exposure to credit risk is
concentrated in these areas.

Capital expenditure is shown by geographical area in which the property and equipment are located.

Geographic sector risk concentrations within the customer loan portfolio were as follows:

2007 2007 2006 2006 :
XS % $ %
(Restated) (Restated)
Bahamas 2,132,804 , 88 2,233,963 92
Turks & Caicos Islands ~ 283,171 12 191,988 8
OE
6 :

D. Currency risk

Cash flow interest rate risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in market interest rates.
Fair value interest rate risk is the risk that the value of a financial instrument will fluctuate because of changes in market interest rates. The Bank
takes on exposure to the effects of fluctuations in the prevailing levels of market interest rates on both its fair value and cash flow risks. Interest
margins may increase as a result of such changes but may reduce or create losses in the event that unexpected movements arise. Limits are set on
the level of mismatch of interest rate repricing that may be undertaken, which are monitored on an ongoing basis.

Expected repricing and maturity dates do not differ significantly from the contract dates, except for the maturity of deposits up to 1 month, which
represent balances on current accounts considered by the Bank as a relatively stable core source of funding of its operations.

Liquidity risk

The Bank is exposed to daily calls on its available cash resources from overnight deposits, current accounts, maturing deposits, loan draw downs,
guarantees and from margin and other calls on cash settled derivatives. The Bank does not maintain cash resources to meet all of these needs as
experience shows that a minimum level of reinvestment of maturing funds can be predicted with a high level of certainty. The Board sets limits on
the minimum proportion of maturing funds available to meet such calls and on the minimum level of interbank and other borrowing facilities that
should be in place to cover withdrawals at unexpected levels of demand.

The table below analyses assets, liabilities and credit commitments of the Bank into relevant maturity groupings based on the remaining period at
balance sheet date to the contractual maturity date. :

Maturities of assets and liabilities









0-3 1-5 Over 5
October 31, 2007 months 3-12 months years years Total
$ $s $s $ $
Assets
Cash and balances with central bank 116,808 - - : 116,808
Due from banks 152,626 - - - 152,626
Derivative financial instruments 36,713 - - 36,713
Financial assets at fair value through
profit or loss 792,307 - - - 792,307
Other assets 32,662 - - - 32,662
Investment securities 102,310 108,915 459,387 222,549 893,161
Loans and advances to customers 243,785 260,733 397,769 1,513,688 2,415,975
Property and equipment ; - - : 26,954 26,954
Retirement benefit asset - - - 13,502 13,502
Goodwill : : - 187,747 187,747
Total assets 1,477,211 369,648 857,156 1,964,440 4,668,455
Liabilities
Customer deposits 3,116,341 497,720 47,092 253 3,661,406
Derivative financial instruments 30,974 - - - 30,974
Debt securities in issue 620 © - 20,000 vt 20,620
Other borrowed funds 186,933 91,238 - - 278,171
Other liabilities : 30,138 - - - 30,138
Retirement benefit obligations : - - 3,814 3,814
Total liabilities 3,365,006 588,958 67,092 4,067 4,025,123 '
Net on balance sheet position (1,887,795) (219,310) 790,064 —_ 1,960,373 643,332
Credit commitments 107,714 255,229 647 - 363,590
October 31, 2006 3-12 1-5 Over 5
(Restated) 0-3 months months years years Total
$ $ $ $s. $
Total assets , 1,442,081 441,335 1,007,379 1,533,166 4,423,961
Total liabilities 3,272,143 376,205 13,076 165,799 3,827,223
Net on balance sheet position (1,830,062) 65,130 994,303 1,367,367 596,738 ;
Credit commitments 25,953 409,186 - - 435,139

The matching and controlled mismatching of the maturities and interest rates of assets and liabilities is fundamental to the management of the
Bank. It is unusual for banks ever to be completely matched since business transacted is often of uncertain term and different types. An
unmatched position potentially enhances profitability, but also increases the risk of losses.

The maturities of assets and liabilities and the ability to replace, at an acceptable cost, interest-bearing liabilities as they mature, are important
factors in assessing the liquidity of the Bank and its exposure to changes in interest rates and exchange rates.

Liquidity requirements to support calls under guarantees and standby letters of credit are considerably less than the amount of the commitment
because the Bank does not generally expect the third party to draw funds under the agreement. The total outstanding contractual amount of
commitments to extend credit does not necessarily represent future cash requirements, since many of these commitments will expire or terminate
without being funded.

Fair values of financial assets and liabilities

The following table summarizes the carrying amounts and fair values of those financial assets and liabilities not presented on the Bank's balance
sheet at fair value. Bid prices are used to estimate fair value of assets, whereas offer prices are applied for liabilities.

Carrying value Fair value
2007 2006 2007 2006
Total Total Total Total
\ $ $$. $ $
: r (Restated) (Restated)
Financial assets
Due from banks 152,626 297,817 152,626 297,817
Loans and advances to customers 2,415,975 2,425,951 2,381,257 2,391,090
Investment securities
-loans and advances - 156,898 coe 168,561
Financial liabilities
Customer deposits 3,661,406 3,503,903 3,654,230 3,496,895
Other borrowed funds 278,171 281,344 277,231 281,240
Debt securities in issue 20,620 - 19,493 -
Due from banks

Due from banks include inter-bank placements and items in the course of collection. The fair value of floating rate placements and overnight
deposits is their carrying amount. The estimated fair value of fixed interest bearing deposits is based on discounted cash flows using prevailing
money market interest rates for debts with similar credit risk and remaining maturity. Their carrying values approximate their fair values.

Loans and advances to customers

The estimated fair value of loans and advances represents the discounted amount of estimated future cash inflows. Expected cash flows are
discounted at current market rates to determine fair value. The balances are net of specific and other provisions for impairment and their net
carrying amounts reflect their fair values.

Investment securities

Fair value for investments designated as loans and advances is based on market prices or broker/dealer price quotations. Where this information is
not available, fair value has been estimated using quoted market prices for securities with similar credit, maturity and yield characteristics. Where
fair values still cannot be measured reliably, these securities are carried at cost less impairment. Available-for-sale securities are measured at fair
value. : :

Customer deposits and other borrowed funds

The estimated fair value of deposits with no stated maturity, which includes non-interest-bearing deposits, is the amount repayable on demand.
The estimated fair value of fixed interest bearing deposits and other borrowings without quoted market price is based on discounted cash flows
using interest rates for new debts with similar remaining maturity.

25. Critical accounting estimates and judgements in applying accounting policies

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events
that are believed to be reasonable under the circumstances. The estimates and judgements that have a significant risk of causing material adjustments to
the carrying amounts of assets and liabilities within the next financial year are discussed below. .

The Bank takes on exposure to effects of fluctuations in the prevailing foreign currency exchange rates on its financial position and cash flows.
The Board of Directors sets limits on the level of exposure by currency and in total for both overnight and intra-day positions, which are monitored
daily. The table below summarizes the Bank’s exposure to foreign currency exchange rate risk at October 31. The off-balance sheet net notional
position represents the difference between the notional amounts of foreign currency derivative financial instruments, which are principally used to i

reduce the Bank’s exposure to currency movements, and their fair values. Disallowance of hedge effectiveness accounting

As discussed in Note 2, during the year, a review of the Bank’s hedge accounting revealed that existing hedge documentation was not

Concentrations of assets, liabilities and-credit commitments: appropriate. Consequently, all hedges existing as of that date were disqualified from having met the criteria for hedge accounting. The effect is



tabulated below.
October 31, 2007 BAH US . Other Total $7000
$ $ $ $
saabiid The effect on the balance sheet for 2006 was as follows:
Cash and balances with central
Bank - 103,199 11,567 2,042 116,808 Total equity as previously reported 605,406
Due from banks 1,161 48,612 102,853 152,626 Adjusted for:
Derivative financial instruments - 36,713 - 36,713 Increase in reserves 474
Financial assets at fair value through Decrease in retained earnings 9,142
. profit or loss - 792,307 - 792,307 Total equity as restated = 596.738
Other assets 10,287 20,879 1,496 32,662 ———
Investment securities ~ / : 133,974 720,623 38,564 893,161 il) Settlement date accounting : :
Loans and advances to customers 1,440,983 - —- 974,992 : 2,415,975 Effective March 1, 2007, the Bank changed the date on which all purchases and sales of financial assets at fair value through profit and loss are
Property and equipment 20,779 6,094 81 26,954 to be recognized from trade date to settlement date. The audited October 31, 2006 balances have been restated to reflect this change. The impact
Retirement benefit assets 11,731 1,771 - 13,502 on the audited October 31, 2006 balances was to reduce trading securities by $157,000, other assets by $82,000 and other liabilities by $239,000.
Goodwill 186,582 1,165 - 187,747
iii) Fair value of financial instruments
Where the fair values of financial assets and financial liabilities recorded on the balance sheet cannot be derived from active markets, they are
Tones 1,908,696 _2,614,723_ 145,036 4,668,455 determined using a variety of valuation techniques that include the use of mathematical models. The input for these models is taken from
a observable markets where possible, but where this is not possible, a degree of judgement is required in establishing fair values. The judgement
Liabilities includes considerations of liquidity and model inputs such as correlation and volatility for longer dated derivatives.
Customer deposits 1,348,011 2,064,913 248,482 3,661,406
Derivative financial instruments - 20,940 40,034 30,974 iv) Loan fee recognition estimate .
Debt securities in issue 20,620 . Z 20,620 : The Bank’s current processes and information technology systems do not support the treatment of loan fees and the related direct costs as an
Other borrowed funds : 278,171 : 278,171 adjustment to the effective interest rate and deferred. As a consequence, management has to estimate the effect of this treatment.
Other liabilities 280 “29,858 , - 30,138 . Z : a ,
+ Retirement benefit obligations 3.717 . 97 3814 In accordance with IAS 18 Revenue, loan origination fees, relating to loans that have a high probability of being drawn down, are to be deferred
—————— — qs m (together with related direct costs) and recognized as an adjustment to the effective interest yield on the loan. As a result of this change, $19,456
ee has been reclassified between other liabilities and loans and advances.
Total liabilities —__1370,245 2,393,882 260,996 4,025,123
26. Fiduciary activities
Net on balance sheet position 536,068 220,841 (113,577) 643,332
The Bank provides custody and trustee discretionary investment management services to third parties. Those assets that are held in a fiduciary
Credit commitments 104,967 257,062 1,561 363,590 capacity are not included in the consolidated balance sheet. At the balance sheet date, the Bank had investment assets under administration on behalf of
————————————eeseeeeee- third parties amounting to $21 (2006-$201).
Me ee Total 27. Principal subsidiary undertakings
$
October 31, 2006 Name Country of incorporation
(Restated) gi =
Total assets 1,857,111 2,452,370 114,480 4,423,961 FirstCaribbean Intemational Finance Corporation (Bahamas) Limited Bahamas
Total liabilities 1,336,948 2,274,672 215,603 3,827,223 FirstCaribbean Intemational (Bahamas) Nominees Company Limited Bahamas
FirstCaribbean Intemational Land Holdings (TCI) Limited Turks & Caicos Islands

Net on balance sheet position

520,162 177,698 (101,123) 596,738

Credit commitments 174,84) 258,395 1,903 435,139

All subsidiaries are wholly owned.


THE TRIBUNE

The Abaco Beach Resort
and Boat Harbour

is seeking candidates for three newly-created positions;
Bahamian nationals need only apply please for the following immediate
career opportunities:

VP of Human Resources - must have 3 - 5 years of previous

Human Resources total department leadership experience
in a large resort or hotel to fulfill all Bahamas HR

compliance and responsibilities. Minimum B.S. degree and
successful achievement record.
Please send your confidential e-mail resume to

bobkramm@yahoo.com

VP of Sales and Marketing - must have 3 - 5 years of
leadership experience and total department responsibility
for all sales and marketing for an international resort
destination. 30 - 50% travel may be required; prefer
Bahamas-based candidates, but U.S. based will be
considered. Candidates with large marina sales
experience and group rooms achievements will be
considered first.

VP of Finance and Administration - must have current
certifications, minimum B.S., preferred MBA/CPA
background. Only candidates with total resort/hotel
finance department responsibility will be considered

for this opportunity. Responsibilities will include finance,
contract management, internal audit, P & L leadership
training, and labor management/forecasting and staff
guide implementation.

All positions will be extended a housing allowance, base salary plus bonus

potential, and serve on the Organization Development Group (Executive
Committee) for this long-term career opportunity in Marsh Harbour,
Abaco Islands. Those with experience in real estate development and
real estate services (HOA, POA) wili be given preferential consideration.
Excellent verbal and written communication skills will be necessary!

Send your resume to Bob Kramm at bobkramm@yahoo.com
Learn more about the resort at: www.abacobeachresort.com

The Abaco Beach Resort and Boat Harbour is creating a Master Plan
for expansion and upgrading of its facilities and welcomes seasoned,
proven Bahamian professionals to join this exciting challenge”

© Copyright 2008 by thebahamasweekly.com

TUESDAY, APRIL 15, 2008, PAGE 11B

FIRSTCARIBBEAN

INTERNATIONAL BANK

CAREER OPPORTUNITY
for

Director, Corporate Banking — Bahamas and Turks and Caicos

UALIFICATION & EXPERIENCE

* Graduate status and at least 7 years proven experience in the business/financial

world.

Proven experience in managing comporaie/eqmuneroutt banking businesses and
emerging market experience.

Superior ability to interpret complex corporate client needs and to assemble
innovative value-adding solutions that achieve Client objectives.

A solid record of results, in business development, relationship management and
leading relationship management teams.

Focused and motivational leadership skills to galvanize a team to work
collaboratively and effectively for customer value and profitability.

High level of understanding of the markets, geographic, macro economic and global
factors impacting our client base.

Ability to work effectively within and across complex matnix structures

| RESPONSIBILITIES

As akey member of the senior leadership team, work proactively to contribute and .
to develop the Division’s strategic, business, financial and marketing plans to achieve
annual and year over year business objectives.

Lead and champion the sales/credit partnership to ensure the health of our credit risk
portfolio and to ensure that variances or concems in the credit portfolio are addressed
with client relationship management and resolved.

As the Senior Business Developer of the Corporate Business Unit, takes the lead on
complex and high value opportunities. Undertakes an active role with key high value
customers to support the client facing team to provide solutions and to problem solve
as needed.

Ensuring high client retention while enhancing and maximizing the profitability of
accounts

Applicants are requested to submit their resume with a cover letter via email

by April 18", 2008 to: Deangelia.deleveaux@firstcaribbeanbank.com



“Informative. I can be sure to read something of value in The Tribune. It is filled with



information about local news, sports, entertainment and world news — subjects that are

important to me. The Tribune is my newspaper.”

The Tribune

eis Bhs 4 hfe GA AOL /
My Vere. Miy Vlewspaprt

JASON RAHMING
CONSTRUCTION FOREMAN

Purchase The Tribune from your
local store or street vendor.
PAGE 12B, TUESDAY, APRIL 15, 2008
GN-666



SUPREME
COURT

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
No. 2008/PRO/npr/00144

Whereas ALFREDA WHITE a.k.a. ALBERTHA WHITE
of Haven Subdivision in Southern District of the Island of

New Providence, one of the Islands of the Commonwealth’

of The Bahamas has made application to the Supreme Court
_of The Bahamas, for letters of administration of the Real
and Personal Estate of GODFREY JEFFREY MCQUAY
late of Haven Subdivision in the Southern District of the
Island of New Providence, one of the Islands of the
Commonwealth of The Bahamas, deceased.

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date
hereof.

NICOYA NEILLY

(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
No. 2008/PRO/npr/00161

Whereas WILLIAM JOHN GODFREY ENEAS of
Montague Heights, Eastern District, New Providence, one
of the Islands of the Commonwealth of The Bahamas, has
made application to the Supreme Court of The Bahamas,
for letters of administration of the Real and Personal Estate
of SYLVIA MARGUERITE ENEAS late of East Ernest
Street, Eastern District, New Providence, one of the Islands
of the Commonwealth of The, Bahamas, deceased.

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date

hereof.
DESIREE-ROBINSON .
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
Li THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
No. 2008/PRO/npr/00162

Whereas SHAKIRA SHAKARA COAKLEY and DIANA
M. BETHEL both of Gum Tree Street, Pinewood Gardens,
Southern District, New Providence, one of the Islands of
the Commonwealth of The Bahamas, has made application
to the Supreme Court of The Bahamas, for letters of
administration of the Real and Personal Estate of DERON
RODRICK BETHEL a.k.a. DERON RODERICK
BETHEL late of Gum Tree Street, Pinewood Gardens,
Southern District, New Providence, one of the Islands of
the Commonwealth of The Bahamas, deceased.

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date

hereof. ;
DESIREE ROBINSON
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008

No. 2008/PRO/npr/00163

Whereas CLAUDIA SHARISSE JOHNSON of No.16
Sapphire Ridge, San Souci, Eastern District, New
Providence, one of the Islands of the Commonwealth of
The Bahamas, has made application to the Supreme Court
of The Bahamas, for letters of administration of the Real
and Personal Estate of DUDLEY WINSTON JOHNSON
late of Martin Street, New Providence, one of the Islands
of the Commonwealth of The Bahamas, deceased.

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date
hereof. ;
DESIREE ROBINSON
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
2008/PRO/npr/00 164

IN THE ESTATE OF BERYL ROCKAFELLOW, late of

Regency Park Nursing Home, N03325, Highway 35, Hazlet

in the County of Monmouth in the State of New Jersey,one
of the States of the United States of America, deceased.

NOTICE is hereby given that after the expiration of fourteen
days from the date hereof, application will be made to the
Supreme Court of The Bahamas in the Probate Division by
‘SAMANTHA M. WILLIAMS of No. 52 Old Cedar Street,
Western District, New Providence, one of the Islands of the
Commonwealth of The Bahamas, Attorney-At-Law, the
Authorized Attorney in The Bahamas for obtaining the
Resealed Grant of Letters Testamentary in the above

estate granted to DONALD G. ROCKAFELLOW, the
Executor, of the Estate by Monmouth County Surrogate's
Court, one of the States of the United States of America on
the 5th day of February, 1999.

DESIREE ROBINSON
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT

PROBATE DIVISION

APRIL 17, 2008

2008/PRO/npr/00164A

IN THE ESTATE OF GRAHAM E. ROCKAFELLOW,
late of No. 74 Cherry Tree Farm Road in the Township of
Middletown, County of Monmouth in the State of New
Jersey, one of the States of the United States of America,
deceased.

NOTICE is hereby given that after the expiration of fourteen
days from the date hereof, application will be made to the
Supreme Court of The Bahamas in the Probate Division by
SAMANTHA M. WILLIAMS of No. 52 Old Cedar Street,
Western District, New Providence, one of the Islands of the
Commonwealth of The Bahamas, Attorney-At-Law, the
Authorized Attorney in The Bahamas for obtaining the
Resealed Grant of Letters Testamentary in the above
estate granted to DONALD G. ROCKAFELLOW, the
Executor, of the Estate of Beryl Rockafellow by Monmouth
County Surrogate's Court, one of the States of the United
States of America on the 5th day of February, 1999.

DESIREE ROBINSON
(for) REGISTRAR

COMMONWEALTH OFTHE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
No. 2008/PRO/npr/00165

Whereas TANICO SHENIQUER HUNTER a.k.a.
TAMICO SHENIQUE HUNTER of Victoria Gardens,
Western District, New Providence, one of the Islands of the
Commonwealth of The Bahamas, has made application to
the Supreme Court of The Bahamas, for letters of
administration of the Real and Personal Estate of
VERNETTA MORRISON a.k.a. VERNETHA
MORRISON HUNTER late of Victoria Gardens, Western
District, New Providence, one of the Islands of the
Commonwealth of The Bahamas, deceased.

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date
hereof.
DESIREE ROBINSON
(for) Registrar

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT

PROBATE DIVISION

APRIL 17, 2008

2008/PRO/npr/00166

IN THE ESTATE OF JOHN M. ANKNEY, late of 3792
N.E. Ocean Blvd, Jensen Beach, Florida, one of the States
of the United States of America, deceased.

NOTICE is hereby given that after the expiration of fourteen
days from the date hereof, applicatiori will be made to the
Supreme Court of The Bahamas in the Probate Division by

PETRA M. HANNA WEEKES of the City of Freeport,

Grand Bahama, one of the Islands of the Commonwealth
of The Bahamas, Attorney-At-Law, the Authorized Attorney
in The Bahamas for obtaining the Resealed Grant of Letters
of Administration Multiple Personal Representatives in the
above estate granted to JON WYN ANKNEY and
JOSPEH THOMAS ANKNEY, the Personal
Representatives, of the Estate by Martin County, Circuit
Court, Florida, one of the States of the United States of
America on the 22nd day of February, 2007.

DESIREE ROBINSON
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT

PROBATE DIVISION

APRIL 17, 2008

2008/PRO/npr/00167

IN THE ESTATE OF VERA M. ANKNEY, late of 3792
N.E. Ocean Blvd, Jensen Beach, Florida, one of the States
of the United States of America, deceased.

NOTICE is hereby given that after the expiration of fourteen
days from the date hereof, application will be made to the
Supreme Court of The Bahamas in the Probate Division by
PETRA M. HANNA WEEKES of the City of Freeport,
Grand Bahama, one of the Islands of the Commonwealth
of The Bahamas, Attorney-At-Law, the Authorized Attorney
in The Bahamas for obtaining the Resealed Grant of Letters
of Administration Multiple Personal Representatives in the
above estate granted to JON WYN ANKNEY and
JOSPEH THOMAS ANKNEY, the Personal
Representatives, of the Estate by Martin County, Circuit

‘Court, Florida, one of the States of the United States of

America on the 22nd day of February, 2007.

DESIREE ROBINSON
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
No. 2008/PRO/npr/00168

Whereas PANDORA ETHELYN DAVIS of Alter Court,
Churchill Development, Eastern District, New Providence,
one of the Islands of the Commonwealth of The Bahamas,
has made application to the Supreme Court of The Bahamas,
for letters of administration of the Real and Personal Estate
of STANLEY GEORGE DAVIS a.k.a. GEORGE

THE TRIBUNE

STANLEY DAVIS late of Florida Court, Southern District,
New Providence, one of the Islands of the Commonwealth
of The Bahamas, deceased. ;

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date
hereof.
DESIREE ROBINSON

- (for) REGISTRAR

COMMONWEALTH OFTHE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
No. 2008/PRO/npr/00169

Whereas BARBARA LOUISE ROMER of Bel Air Estates,
Eastern District, New Providence, one of the Islands of the
Commonwealth of The Bahamas, has made application to
the Supreme Court of The Bahamas, for letters of
aduuinistration of the Real and Personal Estate of JAMES
ALEXANDER ROMER late of Bel Air Estates, Eastern
District, New Providence, one of the Islands of the
Commonwealth of The Bahamas, deceased.

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date

hereof.
DESIREE ROBINSON
(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008

2008/PRO/npr/00170

IN THE ESTATE OF CASIMIR SKRZYNIECKI, late
of 164 Mettler Street in the City of Toledo in the State of
Ohio, one of the States of the United States of America,
deccased.’ ~ i aye

NOTICE is hereby given that after the expiration of fourteen
days from the date hereof, application will be made to the
Supreme Court of The Bahamas in the Probate Division by
JAMES LENNOX MOXEY of Shirley Street in the Island
of New Providence, one of the Islands of the Commonwealth
of The Bahamas, Attorney-At-Law, the Authorized Attorney
in The Bahamas for obtaining the Resealed Letters of
Authority in the above estate granted to GARY
HOLEWINSKI the Executor of the Estate, by the Probate
Court of Lucas County, Ohio, on the 16th day of October,
2007.

NICOYA NEILLY

(for) REGISTRAR

COMMONWEALTH OF THE BAHAMAS
: THE SUPREME COURT .
; PROBATE DIVISION
No. 2008/PRO/npr/00171

Whereas DEYANE E. RUSSELL of Yellow Elder Gardens
in Western District of the Island of New Providence, one
of the Islands of the Commonwealth of The Bahamas has
made application to the Supreme Court of The Bahamas,
for letters of administration with the Will annexed of the -
Real and Personal-Estate of FAYE ANN ECKEL (a.K.a.)
FAYE A. ECKEL late of 873 South Highway 48, Creek
County in the City of Mannford in the State of Oklahoma
one of the States of the United States of America, deceased.

Notice is hereby given that such applications will bé heard

by the said Court at the expiration of 14 days from the date

hereof.
NICOYA NEILLY »
(for) REGISTRAR

COMMONWEALTH OF TILE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
APRIL 17, 2008
No. 2008/PRO/npr/00173

Whereas McARTHUR MOSS of the Western District of
the Island of New Providence, one of the Islands of the
Commonwealth of The Bahamas has made application to
the Supreme Court of The Bahamas, for letters of
administration of the Real and Personal Estate
of HILDA MOSS late of Baillou Hill Road in the Southern
District of the Island of New Providence, one of the Islands
of the Commonwealth of The Bahamas, deceased.

Notice is hereby given that such applications will be heard
by the said Court at the expiration of 14 days from the date
hereof.

NICOYA NEILLY

(for) REGISTRAR



COMMONWEALTH OF THE BAHAMAS

THE SUPREME COURT

* PROBATE DIVISION
APRIL 17, 2008

2008/PRO/npr/00174

IN THE ESTATE OF ROBERT H. ABPLANALBP, late of
the Village of Bronxville of the Town of Eastchester in the
County of Westchester in the State of New York, one of the
States of the United States of America, deceased.

NOTICE is hereby given that after the expiration of fourteen
days from the date hereof, application will be made to the
Supreme Court of The Bahamas in the Probate Division by
MICHAEL ALVIN DEAN of Hampshire Street in the
Western District of the Island of New Providence, one of
the Islands of the Commonwealth of The Bahamas, Attorney-
At-Law, the Authorized Attorney in The Bahamas for
obtaining the Resealed Letters Testamentary in the
above estate granted to JOSEPHINE ABPLANALP,
JOHN P. ABPLANALP, MARIE H. HOLCOMBE and
WILLIAM E. GRIFFIN the Personal Representatives of
the Estate, by the Surrogate's Court of the State of New
York, Westchester County, on the 16th day of September,
2003.

NICOYA NEILLY
(for) REGISTRAR