Citation
The Tribune

Material Information

Title:
The Tribune
Uniform Title:
Tribune (Nassau, Bahamas)
Portion of title:
Nassau tribune
Place of Publication:
Nassau, Bahamas
Publisher:
Tribune
Publication Date:
Copyright Date:
2008
Frequency:
Daily, except Sunday
daily
normalized irregular
Language:
English
Physical Description:
v. : ill. ; 58 cm.

Subjects

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

Notes

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

Record Information

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

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Full Text







2 FOR YOU

HIGH
LOW

Co

Volume: 104 No.127

rails

INDEPENDENT MP Keny-
atta Gibson was injured when
his SUV left the road and
crashed through a fence in East
Bay Street last night.

The lawyer-politician suffered

facial cuts as his Ford Expedi- .

tion veered out of control near
the basketball courts. opposite
the Hammerheads bar.

Mr Gibson, a former PLP
parliamentarian, was badly
shaken in the crash and taken to
‘an upstairs room at the bar,
where he awaited medical
attention. —

A witness said: “He was real-
ly shaken and had cuts round
his face and forehead. However,
I think he is going to be okay.”

The MP-was resting in the

upstairs room while waiting for '

police to arrive at the scene.

The basketball court was full
of players when the crash
occurred, but bystanders said
no-one apart from Mr Gibson
himself was in danger as the
vehicle careered across a patch
of grass and through a green
chainlink fence.

One witness said a blow-out
in one of the vehicle’s front
tyres could have caused the MP
to lose control.

Mr Gibson, MP for Renner
was a controversial member of
the former PLP government,
having been involved in the

WEATHER

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S1F
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PARTLY
SUNNY










ANY







The Tribune

TIME...ANY PLACE, WE’RE #1







BAHAMAS EDITION

WEDNESDAY, APRIL 23, 2008

Gree
Into art

MP is injured
in car crash

Kenyatta Gibson’s SUV
crashes through fence

Kenyatta Gibson

infamous Cabinet Room brawl
with fellow MP Keod Smith.

Following the fracas, Mr Gib-
son was forced to resign from a
government post but retained
his parliamentary seat.

However, he later became
disenchanted with the leader-
ship style of former Prime Min-
ister Perry Christie and resigned
from the party, opting to serve
his Kennedy constituents.as an
independent.

Mr Gibson’s SUV suffered
front-end damage in last night’s
crash, with one wheel being bro-
ken from its axle.

a

AUTO INSURANCE

Never st

font

a. 0







contradictory

testimony in
Election Court
lm By BRENT DEAN

Tribune Staff Reporter

bdean@tribunemedia.net

TWO witnesses for Zhivargo
Laing gave contradictory testi-

mony on several occasions to °

the Election Court while on the
witness stand yesterday..
Rochelle Brown, a voter
being challenged by Pleasant
Bridgewater, told the court that
she lives at 21 Pioneer’s Loop,

which is in the Marco City con-

stituency. The witness said she
has lived at the residence for
seven years, and initially did so
with her boyfriend Leon Tay-
lor, her four children and his
mothef.

The court heard testimony
earlier in the case from PLP poll
captain Cabrena Adderley, who

. Said that Ms Brown lived at

Eight Mile Rock.
Ms Brown denied that she

’ lives there and also denied that

Mrs Adderley gave her a ride to
the bus stop in order to travel to
Eight Mile Rock several years
ago, as was Mrs Adderley’s tes-
timony.

SEE page 10



Felipé Major/Tribune staff

to Myers
sCoyboid ag

By ALISONLOWE .
Tribune Staff Reporter
alowe@tribunemedia.net









TWO Bahamian airlines
are forming a strategic alliance
_to become more competitive
and profitable in the face of
sky-high fuel prices. ,

Effective immediately Sky
Bahamas and Regional Air
will. be operating jointly to
help cut costs and buffer the
blows dealt to each bya tur-.
bulent world economy.

Sky Bahamas CEO Heuter
Rolle told The Tribune yes-
terday that his fuel costs have
increased by $10,000 a week
since October last year - from
$22,000 to $32,0000 - equiva-
lent to $40,000 a month.

With the “unwritten rule”
being that domestic airlines
cannot raise their ticket prices
above that of the national car-
rier, Bahamasair, or else risk
losing customers, airlines like
Sky Bahamas and Regional
Air “live with small margins”,
said the CEO.

When Bahamasair raised
fares in March, Sky Bahamas

SEE page 10





























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SEE NEWS SECTION PAGE 11



Kidney drug used
in the Bahamas
‘is banned in
Naar muNiiiey (act

A POPULAR drug used in The Bahamas by kidney patients to -
prevent blood clots has been banned in several countries, including,
Canada, after it was deemed “biologically contaminated” and
resulted in 81 deaths and hundreds of injuries in the United States
between November and February. Yet, as of 6.18pm last night, a
duty nurse at Princess Margaret Hospital confirmed that the drug
was being used despite the fact the American FDA (Food and —
Drug Administration) wrote letters stating it was "unsuitable for its

intended use”



The contaminated heparin has so far been found in Australia, ©

N etherlands and New Zealand.

~ Canada, China, Denmark, France, Germany, Italy, Japan, the

American health officials stated yesterday through several media
outlets that the contaminated blood thinner has been traced to 12
different Chinese companies involved in its manufacture. The ~
heparin was marketed by Baxter International Inc., of Deerfield,

SEE page 10

Known death toll in
boat accident. now at 14

@ By MEGAN REYNOLDS
Tribune Staff Reporter

THE body of a woman who —

drowned in the fatal boat acci-
dent near the Berry Islands on

- Saturday was brought into Nas-

sau harbour yesterday after-
noon, bringing the known death

ie toll to 14.

Around 25 people were
crammed on to the 20-25ft

-motorboat headed for Bimini
’ from Nassau when it started
taking water on board and sank. -

Three survivors, a Haitian
man and woman, and a Hon-
duran man, were found by res-
cue teams 15 miles off Nassau
on Saturday evening and are
assisting police with inquiries.

But the identity of the woman
brought in by the Royal
Bahamas Defence Force on
Tuesday afternoon, like the 13
others found, is unknown.

Chief Petty Officer Ralph

McKinney, of The Royal.

Bahamas Defence Force, said
the search will continue until all
of the passengers are recovered.

He said: “We are optimistic



THE BODY of the woman is
brought ashore yesterday.
Felipé Major/Tribune staff

of finding the others and bring-
ing them to shore for a proper
burial.

“These people may have fam-.
ily in New Providence and they

SEE page 10 .

Deputy PM denies he was
involved in company reportedly
scheduled for airport work

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

DEPUTY Prime Minister Brent Symonette denied accusations
yesterday that he was involved in a company that was reported to be
scheduled to pave the airport.and do additional road work in Mayagua-

na later this year.

Ata press conference yesterday dealing with matters relating to local
government, PLP MP for MICAL Alfred Gray claimed the proposed

SEE page 10

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THE TRIBUNE

Gray claims Collie has

done nothing to advance
system left by the PLP

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

THE Minister of Local Gov-
ernment Sidney Collie has done
absolutely “nothing” during his
12 months in office to advance
the system left in place by the
PLP, the former minister Alfred
Gray charged yesterday.

Criticising an amendment that
the government proposes to move
today in the House of Assembly,
Mr Gray was joined by his, col-
leagues Dr Bernard Nottage,
Obie Wilchcombe, Fred Mitchell,
and Picewell Forbes at a press
conference at the office of the
leader of the opposition.

Describing the proposed
amendment as “minor”, Mr Gray
pointed out that it will only give
local councils outside of Freeport
the power to issue permits for the
construction of wooden docks not
exceeding 120 feet and which do
not require the excavation of
land.

“This is certainly not revolu-
tionary and one must ask the
question, if the government is
serious’ about local government
reform, why after almost 12
months in office, they have not
come with more significant leg-
islation?”

When asked what the current
minister has accomplished in the
past year, Mr Gray was quick to

’ respond, “nothing”.

“And I say that with the great-
est of respect, and if he can chal-
lenge me that he has done some-
thing I will withdraw my remarks
very quickly. But I have kept an
eye on the Local Government
Ministry and I cannot mention
one innovative step that they
have taken since becoming the

| governinent in 2007, to advance

the democratic process with the
system of local government which

‘is in place,” he said.

As the former minister of Local
Government, Mr Gray, who also
serves as the MP for the MICAL
constituency, said that it is impos-
sible to ignore the fact that in less

Alfred Gray

“than two weeks, the FNM will

mark a year of being in office as
the government of the Bahamas.

He said their legislative record
over this time has been “dismal”.

“Tt is clear they have no agen-
da. This amendment, while
deserving qualified support, clear-
ly shows that they have no agen-
da.

Opportunity

“However, we think that this
provides an opportunity to say
what we would-have done and
remind the public what we
pledged to do as a party. It is clear
that local government authorities
are hobbled by the inability to
allocate sufficient for the needs
of their districts. We think that
the time then has come to signif-
icantly increase the allocations to
local councils to meet some of the
major needs of the people in the
islands without recourse to the
authorities in Nassau.

“The local people are nearest

to the situation on the ground and -

there is therefore a need to go
much further than we have
already in the allocations of mon-



Snare

ey to local councils. This is a clear
call for more money for local gov-
ernment councils.

“I am further proposing that
the stipend which is presently
paid to the local government chief
councillors be increased from’
$400 to $600 and to all other
councillors from $75 — which is
totally inadequate — to $200 per
month,” Mr Gray said.

He also called for the govern-
ment to say when it proposes to
reveal plans for the implementa-
tion of local government in the
New Providence, pointing out
that the PLP promised in its
“Action Agenda” that if returned
to office, it would have done so by
now.

“Over the next few weeks, the
PLP will continue to speak out
in support of the issues that we
have raised here this morning.
We believe that the local govern-

- ment councils must not be a stag-

ing ground for the abuse of local
communities, taxation without
representation, responsibility .
without authority. We are com-
mitted to assisting local commu-
nities in their better governance...
and further development,” he
said. ,

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THE TRIBUNE







In brief

Man in court
on charge of

A 21-YEAR-OLD man
was arraigned in Magistrate’s
Court on an armed robbery
charge.

It is alleged that on Mon-
day, February 25, Kermit
Anwar Evans of Major Road
was armed with a handgun
and robbed an individual of
$28,000, the property of Flu-
id Night Club.

Evans, who was arraigned
before Magistrate Linda Vir-
gill at court nine in Nassau
Street, was not required to
plead to the armed robbery
charge.

He was remanded to Her
Majesty’s Prison and will
return to court on Friday for
a status hearing.

‘Woman in
hospital after

car skids off
the roat

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

A WOMAN is in hospi-
tal being treated for seri-
ous injuries after she lost
control of her car on a
West Grand Bahama
Road.

Cecile Williams, 28, of
Deadman’s Reef, is expect-
ed to be moved to the
Princess Margaret Hospital
in New Providence for fur-
ther medical treatment
after her car skidded off
the road, overturned sever-
al times and came to a halt
in some bushes.

Chief Superintendent of
Police Basil Rahming
reported that the accident °
took place near Bahama
Beach at around 9am on
Saturday. « _

Ms Williams was driving
her silver 2005 Nissan
Maxima heading west —
along the West End High-
way.

Mr Rahming said her car
skidded almost 400 feet
before crashing into the
bushes, and that the vehi-
cle appeared to have
flipped several times
before coming to rest
upsidedown.

He said the car was
totally demolished. ,

When paramedics
arrived on the scene, they
found Ms Williams lying
down in bushes a few feet
away from the wreckage.
She was conscious and
complaining of severe
pains.

The victim was rushed to
the Rand Memorial Hospi-
tal.

Mr Rahming said that
arrangements are being
made to have her airlifted
to Nassau.

The Eight Mile Rock
police are investigating the
accident. :

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LOCAL NEWS

Police Commissioner on Harl Taylor,
Thaddeus McDonald murders



@ By MEGAN REYNOLDS
Tribune Staff Reporter

THE fruitless investigation into
November's double murder
requires more time and patience,
maintains Police Commissioner
Reginald Ferguson, refuting
claims the enquiry has been
foiled.

The frenzied, violent attacks
on Harl Taylor and Thaddeus
McDonald took place within days
of each other in November last
‘year, and the five month investi-
gation has failed to produce con-
crete evidence.

Although Mr Ferguson main-
tains several people have been
interviewed, they have nothing
"tangible" and no arrests have
been made.

He added: "I would like noth-
ing more than to arraign some-
body.

"We saw how they were bru-
talised and how their lives ended,
and the perpetrators are still out
there; that is definitely a major
concern.




terday.

Former assistant policé commission-
er Paul Thompson said it was the only
way that police could be sure of getting
certain people on oath in the witness-

box.

homosexuals last November.

action.

be summoned to appear.



fearing exposure.

But he said his team were confident of capturing the culprit. All
they needed was a “breakthrough” with information from the
public to match their “very good” forensic evidence.

ETM UM ts mS
ito be called into murders

AN INQUEST needs to be called
into the Harl Taylor and Thaddeus
McDonald murders to “flush out” reluc-
tant gay witnesses, it was claimed yes-

His comments came as public disqui-
et grew over the police’s failure to make {
an arrest in connection with the brutal
murders of the two prominent Nassau

Bishop Simeon Hall of New Covenant Baptist Ghurch claimed
this week that he had been threatened after calling for a police
“update” on inquiries. Fathers’ rights campaigner Clever Dun-
combe urged him to disregard the warnings and keep pressing for

Now Mr Thompson has stepped into the debate, urging that an
inquest be called so that known gay associates of the two men can

“Anyone who was at a party attended by the two men shortly
before their deaths could be called to give evidence,” he said.

“Police could then put them in the box on oath and have a bet-
ter chance of getting at the truth. I think an inquest is a way for-
ward to deal with those people who have joined together to
deny police information. At an inquest, you expose them to the
public and.make them face questions.”

Asst Supt Leon Bethel, who is leading the investigation, has
claimed that covert gays are reluctant to talk about the killings,

"We are exhausting all avenues
and trying to do all we can to
bring it to closure, but we cannot
get frustrated.

"One of the key elements in
investigations is patience and we
have got to do a whole lot of
exploration and take time." |

But suspicion is brewing in the
Nassau community, as prominent
Baptist Bishop Simeon Hall voic-
es public concerns that people in
power are impeding the investi-
gation.

He said: "I am pushing for jus-
tice to be done, and I am con-
cerned that there are people in
influential positions who know
more than we are being told and
are frustrating police in their
efforts.

"How can we move forward in
the climate of crime when peo-
ple believe justice is being thwart-
ed? Whether it is true or not, it is
a very dangerous belief."

Assistant Superintendent Leon
Bethel maintains police inquiries
have not been impeded, and
detectives are confident they will


































Harl Taylor

Ministry monitoring malaria
situation on Great Exuma

THE Ministry of Tourism
says that it is monitoring the
situation on Great Exuma with

- regard to the new malaria out-

break and is keeping abreast

_of the efforts of the Ministry

of Health and the Department
of Environmental Health Ser-
vices.

“In this current circum-

stance, the Ministry of Tourism -

will support all authorities and
will work, as appropriate, with
media to encourage the accu-
rate and factual reporting of
the story,” said the ministry in
a statement.

It noted that both Bahamian



authorities and the US Centre
for Disease Control (CDC)
have stated that there is no
threat to those vacationing on
Nassau, Paradise Island, Grand
Bahama, Abaco, Andros,

- Bimini, Eleuthera, Harbour

Island or any other island.

It said the warnings are con-
fined to Great Exuma, where
the CDC described the risk as
“low-level”.

“The CDC travel advisory
for Great Exuma recommends
that visitors take chloroquine
malaria preventive medication

(prophylaxis),” the statement.

said.

1c Queén Post Bed
i Bila



Reginald Ferguson

bring the murderer to justice.

Good forensic evidence gath-
ered at both crime scenes now
needs the back up of witnesses, he
said.

Thaddeus McDonald was
attacked with an iron in his
Queen Street home on November
16, 2007, and two days later Harl
Taylor, a handbag designer, was
stabbed to death at his office in
Mountbatten House, West Hill
Street.

It has been alleged that the two

men were in a homosexual rela-

tionship. :

- Fathei's rights campaigner
Clever Duncombe insists the law
should not demonstrate, "differ-
ent strokes for different folks"

_ and supports Bishop Hall's con-
_tinuing call for justice. “3
“He said>"If-we don't address «=~

this issue and keep it before the
public eye, it will go cold like oth-
er high profile gay murders."

Bishop Hall, an old school
friend of Mr McDonald, insists
he will not be frightened into
silence by threatening phone calls
received at the weekend.

He said: "I will protect my fam-

‘ily to the bitter end but no effem-

inate voice on the telephone
cussing me out can deter me from
doing my work."

Any information which could:

assist investigations should be
reported to Bahamas Police on
322- 2561 or call Crimestoppers
anonymously on 328-8477.

THE PRITCHARD DE

Double murder investigation
nou ‘requires more time, patience’

at

f

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PAGE 4, WEDNESDAY, APRIL 23, 2008 THE TRIBUNE

EDITORIAL/LETTERS TO THE EDITOR

Customs >
and Mona










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

TELEPHONES

Publisher/Editor 1972-

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





THE removal of Leon Williams as
chief executive of the Bahamas
Telecommunications Company could
be a significant step towards privatisa-
tion, which Prime Minister Hubert
Ingraham has set his sights on by the
end of this year. |

It might also signal moves to end the
“government corporation” culture,
which became particularly discredited
during the Pindling years, when over-
staffing and poor service were the
norm, with customers figuring very low
in the priority scale.

Mr Williams,.who during his short
tenure in the top post oversaw a period
of record profitability, admittedly ina
monopoly situation, seemingly suffered
nonetheless from perception.

He was forever associated with for-
mer Works Minister Bradley Roberts
and, more importantly, with dogged
resistance to the privatisation process.

Unhappily for him, he was obliged to
carry the burdens of the past on his
managerial shoulders and was called
upon to pay the price.

For 10 long years, the company’s °

future has been debated with a view to
eventual privatisation.

Throughout that time it was the cus-
tomer who suffered, largely from high-
priced overseas.calls, poor service and
a less-than-perfect BTC cellular phone
service, with its ‘dead spots’ and
dropped calls. Cursing the company was
an almost daily occurrence for some
people. ;

Many BTC customers have long since
abandoned its expensive overseas calls
service, opting instead for computer-
linked communications like Skype and
a variety of call-back services based in
the United States.

It was the quality issue, in fact, that
became the prime motivator in the
move to unseat Mr Williams from the
top job. The BTC board felt account-
ability was lacking, and that the com-
pany was falling short in key areas with
no prospect of improvement. ;

Observers now believe Mr Williams’
departure must be accompanied by a
new impetus in the privatisation



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process, and a determination to open
the market to the kind of competition
that will ultimately benefit phone-users.

At the moment, they claim, the
Bahamas is poorly served in the com-

‘munications field, especially for a coun-

try so dependent on tourism, banking
and other international industries.

In so many ways, they argue, the
country is lagging in the one area where
it needs to be a front-runner, largely
for its own survival.

The old Bahamas Telecommunica-
tions Corporation, like other govern-
ment corporations, was impeded by a
culture of slackness, overmanning and
all-round inefficiency.

For years, the PLP government, in
particular, stuck entire battalions of
otherwise useless placemen on corpo-
ration payrolls to get them off the

streets and guarantee their support at

the polls.

In the process, the word ‘corporation’
became anathema to everyone in the
private sector, who felt they were being

‘called upon to subsidise the incompe-

tence of organisations which fell far
short of their own much more exacting
standards.

BTC’s move from ‘corporation’ to
‘company’ status marked a shift in
image and emphasis.

From being a blue-collar, engineer-
ing-led organisation it became more of
a white-collar marketing-led enterprise
with new stress on salesmanship and
promotion.

Even so, lack of competition blunted
its edge, prevented it from performing
at an optimum level, and left it vulner-
able to the kind of shake-up experi-
enced this week.

Mr Williams’ removal will have sur-.
_prised some people, but not those who

felt decisive action was long overdue.
They will see this decision as a crucial

step towards the inevitable: a privati- .

sation exercise in which BTC will
become more relevant to the age we
live in, and a communications market in
which competition can provide the
quality of service we all have a right to
expect.













Vie drink

EDITOR, The Tribune.

IF ZHIVARGO Laing

and/or Hubert Ingraham did,
indeed, direct the Comptroller

of Customs to reduce the rate |
. of customs duty on the prod-

uct known as “Brazilian Mona
Vie berry drink,” being
imported into the Bahamas,
to 10 per cent from the 45 per
cent being levied presently,
then in my opinion they are
both wrong and, in my view,
in breach of the Customs
management/regulations acts.
PLP Member of Parliament,
Mr Frank Smith, in parlia-
ment on Wednesday, Febru-
ary 13th, questioned Laing
about his role in this matter

‘and was only able to get him

to admit that his sister-in-law
did, in fact, have some con-
cerns with the customs depart-
ment, on the question of
which rate of duty was the
correct rate and which was
not. Laing did promise that a
statement, as to his role. He
said enough, however, to con-
vince me that he might possi-
bly have interferred in the
day-to-day operations at the
Customs Department.

My profession as a Customs
broker/ship’s agent/freight
forwarder and former customs
officer, with more combined
years of,theoretical and prac-
tical experience in the busi-
ness, than most in my field in
the country presently, quali-
fies me to speak authorita-
tively on this subject.

The Bahamas became an
independent nation in 1973,
and became a member of the
United Nations shortly, there-
after. As a member of the
League of Nations, we signed
on to a number of Interna-
tional Conventions and
Agreements and became a
recipient of many benefits
provided by the UN. Through
the UN, in 1975, we adopted
“The Brussels Nomenclature”
system, which helped us to
accurately code all imports
and exports to and from the
Bahamas. This necessitated
the UN sending personnel,
qualified in the field, to train
all of us customs officers, on
how to use the new coding
system. I was a 12-year veter-
an customs officer in 1975 and
remember, well, the excite-
ment of finally getting a sys-
tem that made sense. We
spent six weeks in the class-
room, learning how to inter-
pret and apply the system,

effectively. We became a

member of an elite group of
105 countries adopting the

OMe

letters@tribunemedia.net






Nomenclature at the time we
did in 1975.

The “Brussels Nomencla-
ture” was designed to enable
the customs department to
ensure that imports were cat-
egorized accurately and then
the corresponding, proper,
rate of duty applied without
fear or favour; in other words
the system eliminated the
guessing game for customs
officers, because the answers
were all there in the book. It
came with 99 chapters/head-
ings, numerous sub-headings
and a five-book set of
explanatory notes.

When we classify an item,
there are three options avail-
able to us; first of all we must
determine if the item is actu-

- ally listed in the tariff by its

everyday name. For instance
if you have an invoice for
fresh beef you will go to chap-
ter 02 and heading 02.01,
(hope my memory serves me
correctly), then there are sev-
eral sub-headings from which
you must choose the correct
one, depending on whether
the beef is bone in, boneless
or other. If an item cannot be
found in the tariff by its every-
day description, as in the case
of beef, then we try to classify
it according to its use and if
that doesn’t work, we resort
to the material it is made
from.

I am confident that the cus-
toms department has on staff,
well-qualified personnel who
are able to determine the clas-

' sification of anything being

imported into the country,
using the information and
materials available to them. I
am certainly of the opinion
that there would be absolute-
ly no need for them to refer a
common product like this
“Mona Vie Berry drink” to
the International customs
cooperation council for a
determination as to its tariff
heading. I’ll tell you a story.
One:of my clients telephoned
me one day, a few months
ago, to say that her sister-in-
law was about to sue the cus-
toms department because they
changed the rate of duty on
this drink from 10 per cent to
45 per cent. My client wanted
my opinion on the matter,
before. her sister-in-law took
any further action. I asked my
client to bring me a bottle of
the product, and I would
advise her correctly. After
reading the label and seeing
what ingredients were in this
drink, I advised my client that

the customs department was
correct in its determination
that “Mona Vie berry drink”
was a fruit drink classified
under tariff sub-heading
2202.9040 which attracted the
rate of 45 per cent and that it
was not a fruit juice (for cus-
toms purposes) as classified
under tariff sub-heading
2009.9090 which attracted the
rate of 10 per cent duty. This
was disappointing: to her but it
was the truth. According to
the contents and our system
of classifying these products, it
is a fruit drink and not a fruit
juice; there is a difference.

For the information of the
general public and for easy
reference, permit me to
reprint excerpts from the
explanatory notes to each of
these tariff headings and you
be the judge:

For heading 2009.9090

“The fruit and vegetable
juices of this heading are gen-
erally obtained by pressing
fresh, healthy and ripe fruits
and vegetables...the liquids
thus obtained are then gener-
ally submitted to certain
processes; ‘clarification’ to
separate the juice from most
of the solids; ‘Filtration’ often
by means of filter plates; ‘De-
aeration’ to eliminate oxygen’
which would spoil the colour
and flavour. ‘Sterilisation’ to
prevent fermentation. Provid-
ed that they retain their orig-’
inal character, certain other
substances may be added to
preserve the juice or to pre-

vent fermentation; sugar may °

also be added.”
For heading 2202.9040

.:,{Non,alcoholic beverages,

including . lemonade,
orangeéade, etc, flavoured with
fruit juices or essences, or
compound extracts, etc, etc
generally imported in well
stoppered bottles. Citric or
tartaric acid is sometimes
added and they are often aer-
ated with carbon dioxide gas-
es.” °

We shouldn’t miss the most
important point here, and that
is that for a juice to remain a
real juice, any process it
undergoes and/or any addi-
tives to it shouldn’t change its
character. If a product is only
juice flavoured it is not a juice
as defined in the customs tar-
iff?

Clearly this product in ques-
tion is a fruit drink and should
be classified, as ruled by the
comptroller of customs, under
heading 2202.9040, attracting
the duty rate of 45 per cent.

FORRESTER J
CARROLL JP
Freeport,

Grand Bahama,
February 18, 2008.










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Why does Senator John
McCain need all this help?

EDITOR, The Tribune.

IT IS a pity that the Obahma-Rev Wright article has only now
been published. I have been seeking information on the dates of the
much publicised sound bites from sermons by Rev Wright as well
as the entire sermons and any others which could be compared with
the three which have been reviewed.

As you are, no doubt, aware, it was\Sean Hannity of Fox News
who started this whole controversy in order to give Senator McCain
time to move ahead in the polls and also to benefit Hillary Clinton
as the front runner for the Democrats. Then the rest of the people
at Fox News joined in until it was suitably taken up by other news
organisations. °

I wanted this information to confront Bill O’Reilly of “The Fac-
tor” as well as CNN.

They have criticised Senator Obama that (1) he sat and listened
to these sermons for over 20 years (untrue) and did nothing; (2) he
subjected his children to such preaching by Rev Wright.

I still hope that this information can be given to Fox News and
CNN, although the damage has been done. However, all those
thousands of people affected, who blindly believed the nightly
shows might see how they have been duped by Fox News person-
nel and other media outlets.

At this date, however, they are pursuing another tactic of mis-
construing Senator Obama’s words. Rush Limbaugh on his show
actually asked people to vote against Senator Obama and instead
vote for Hillary in the Texas and Ohio primaries to block Obama’s
progress.

Then he proclaimed that his trick was working.

My question is why does Senator McCain need all this help
from Fox News. Why cannot his headquarters staff manage his own
campaign?

INTERESTED
SUBSCRIBER
Nassau,

April, 2008.



THE TRIBUNE



WEDNESDAY, APRIL 23, 2008, PAGE 5







Volunteers
join MP in
beach clean-up

A TEAM of public and
private sector volunteers
joined Eight Mile Rock
MP Vernae Grant to clean
up a Grand Bahama Beach
over the weekend.

The Ministry of Tourism,

the Urban Renewal Live-
able Neighbourhood Pro-
gramme, the Grand
Bahama Port Authority,
the Sanitation Services and
the Eight Mile Rock High
School were all represent-
ed.

The clean-up began in
Lovers Beach in Hepburn
Town and ended in Sunset
Village.

Designer work
to gO on sow at
Marina Village

WORK by designer Jesha
Fritz of Elements Enterprise
will be on show at Doonga-
lik Studios, Marina Village,
Paradise Island, from this
Friday until May 2.

@ ST ANNBP’S Parent-
Teacher Association is hold-
ing a spring fair and steak-
out in the school grounds on
Saturday. Hoopla, rock-
climbing, a dunking booth
and bookstall are among the
attractions.

Fifteen monkeys
escape from
Florida facility

@ LAKELAND, Fla. _

WILDLIFE officials say
a pack of 15 monkeys are
on the loose after escaping
a facility in Polk County,
according to Associated
Press.

Conservation Commission

- spokesman Gary Morse
says the monkeys appar-
ently escaped their island
home by swimming across
a pond — something
they’re not supposed to be
able to do.

Morse says several teams
are out looking for the
social but docile Patas
monkeys, and that they are
“absolutely no threat to
people.”

The 11 adults and four |
juveniles are the personal
pets of Lex Salisbury, the ~
CEO of Lowry Park Zoo
in Tampa.

Fatal small
plane crash
blamed on
canopy probiem

mj LAKELAND, Fla.

THE National Trans-
portation Safety Board is
reporting that a pilot had
trouble closing the cockpit
canopy before his small
plane crashed into a cen-
tral Florida cow pasture,
according to Associated
Press.

Gerard Schkolnik of
Bluffton, South Carolina,
died April 13 when his
2006 single-engine, two-
seat Lancair Legacy
crashed just west of Lake-
land Linder Regional Air-
port. He was the only per-
son on board.

According to a prelimi-
nary NTSB report, wit-
nesses saw Schkolnik
pushing the canopy up
and down about 6 to 12
inches as the plane
climbed during takeoff.
Witnesses also said the
engine lost power shortly
afterward, though the
plane continued flying
straight and the pilot did
not turn back to the run-
way.

Officials say the plane
then turned nose down
and its left wing dropped
before crashing.

ta Ha
AUS

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PHONE: 322-2157



Florida Fish and Wildlife *

CARICOM steps up its

relief efforts

Brent Symonette

Cuba shows journalists
hurricane defence

_ By ALISON LOWE

Tribune Staff Reporter
alowe@tribunemedia.net

JOURNALISTS from across
the region were informed last
week about Cuba’s experience
in using early warnings and risk
reduction measures to minimise
the damage to people and prop-
erty in the face of major storms
and hurricanes.

Director of Cuba’s National
Forecasting Centre in the Insti-
tute of Metereology Dr Jose
Rubiera said that the country
acts on the basis that the scale
of any disaster depends on “the
vulnerabilities that exist in soci-
ety” and with appropriate mea-
sures, even the highest category
storm can be managed.

' “Tn Cuba, the issue of disaster
is measured by the capacity to
respond,” Dr Rubiera told

- those gathered at a three day

workshop on hurricane cover-
age.

The National Forecasting
Centre, the Cuban media and
the Civil Defence department
have long been working togeth-
er to raise the population’s dis-
aster preparedness level.

Asa result, they have man-
aged to keep hurricane and
storm-related fatalities to a min-
imum among the 11 million
population.

Recent major hurricanes such
as Michelle and Charley result-
ed in only single digit deaths,

and the Cuban strategy — which

‘puts saving lives at the forefront
— has been praised by bodies
such as Oxfam and the Red
Cross.

According to a Civil Defence

official, the government’s strat-:

egy focuses on instilling a cul-
ture of readyness within the
population.

Cubans are continuously edu-
cated in school and later, the



«

workplace about what to do in -

the. event of a storm. As with

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

CARICOM has mobilised efforts to
extend relief to Haiti in the midst of the
country's devastating food crisis and
protests over high food costs, according to
international reports.

On Monday, the CARICOM Secretari-
at was reported to have moved forward
with plans to mobilise financial and human-
itarian aid for Haiti, in consultation with
CARICOM members.

International reports said Secretariat offi-
cials confirmed that about $10 million is
anticipated to be approved for release from
CARICOM’s Trinidad and Tobago-facili-
tated Petroleum Fund in a combination of
short-term charitable assistance and aid to
agriculture development to bolster food
production.

Yesterday Minister of Foreign Affairs
and Deputy Prime Minister Brent Symon-
ette said CARICOM is “looking at the a

the country’s healthcare system,
the programme is based on the
principle that prevention trumps
reaction.

“A category five hurricane is
called ‘catastrophic’ but it does
not have to be if you do what
you have to do. We think it can
be avoided by promoting
awareness and making. sure
people do the right things,” said
Dr Rubiera.

At present the government
continues to carry out a “block
by block, house by house”
assessment of the vulnerabili-
ties that exist in each neigh-
bourhood said Vice Minister of
the Ministry of Science, Tech-
nology and Environmental
media, Dr Jose Antonio Diaz
Duque.

The information, which is
computerised, helps Civil
Defence to carry out required
infrastructural upgrades and pri-
oritise their disaster response
action.

Evacuations

Meanwhile, Cubans are pre-

‘pared for mandatory evacua-
tions if the government deems

such a move appropriate. Local
neighbourhood watch groups
work in conjunction with those
in the Civil Defence headquar-
ters to co-ordinate action. .

Dr Rubiera highlighted a
mid-1990s shift in the manner

in which the Cuban metereo- .

logical centre publicised its fore-
casts as playing a‘major role in
the success of the country’s risk
reduction strategy.

The organisation shifted its
approach towards providing
early warnings, starting three to
five days in advance of hurri-

canes, in language that is not

technical but simple and
localised for various regions.
These warnings appear in

stages — “informative”, “alert” .

and “alarm” — each entailing

Reem eT ST

is Conducting

British Colonial Hilton
on Wednesday, April 23rd, 2008

Travailing In Prayer
starts 5 - 6pm

ALL HURTING
PEOPLE CAN ATTEND

Where All Will Be Blessed



the provision of more frequent
and detailed information as the
hurricane advances.

According to Dr Rubiera —
who criticised some media for
“sensationalising” hurricane
coverage — the centre aims to
create an appropriate sense of
danger but not panic.

He added that Caribbean
countries should not rely too
heavily on US forecasters’ pre-
dictions for the region but be
responsible for the area under
their sovereignty.

“In many of these countries
they have a special interest in
announcing something that
comes from abroad...
the most important,

©2008 CreativeRelations.net

RIGHT: A Civil Defence official
greets media at the entrance of
the department’s National

COMMONWEALTH BANK

or

uation and will make a determination in
due course".

Antoine Ferrier, a Haitian Bahamian
photographer who has lived in the Bahamas
for the past 44 years, said while financial
and food assistance is needed in the strife-
ridden country, greater emphasis needs to
be placed on helping Haiti to become more
self-reliant.

Crisis

“The food crisis is worldwide, coming.

from the cost of energy. And in Haiti peo-
ple use wood to burn for food cooking. So
what happens when you use al the wood,
where do they turn?

“This is a huge problem ‘ind they need
relief but, you've got to show a man how to
fish instead of giving him a fish. If you give
them a fish they will always need a fish.
Education, that's what they need so they
could learn to sustain themselves, but the
problem for them right now is energy. They

as if it is
” he said.

‘Headquarters.



Hatti

don’t have the money to buy the energy
they need".

Mr Ferrier said the Haitian government
should mirror policies in the Bahamas and
create price controls on basic food items:

"Here in the Bahamas you have a gov-
ernment that has price control on bread-
basket items, and I think that's what the
government should do in Haiti. You cannot -
tax people who don't have any money.
That's very sad and embarrassing.”

A week after Haitian Prime Minister

. Jacques Edouard Alexis visited the Bahamas,

he was voted out of parliament after deadly
protests over the rising cost of food.

Riots over food shortages and high food
costs broke out on April 3 in southern Haiti.
The protests spread to the capital of Port-
au-Prince and left seven dead before wan-
ing in mid-April.

Last week, Prime Minister Hubert Ingra-
ham — the current chairman of CARICOM
— said that member states were in "discus-
sion" with Haitian President Rene Preval
about advancing funds to the nation.





ABOVE: A senior
Civil Defence offi-
cial speaks to the
press in front of a
map showing
hurricane trajec-
tories. During
hurricanes a
committee of
senior officials
gathers in the
department's
headquarters to
co-ordinate the
response.

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PAGE 6, WEDNESDAY, APRIL 23, 2008 THE TRIBUNE



Cuba replaces its
education minister

@ HAVANA







CUBA has replaced its education minister in the first Cabi-

net change since Raul Castro assumed the presidency two
months ago, the official newspaper announced Tuesday,
accor ding to Associated Press.

Castro has suggested that a major Cabinet shake up is
expected later this year to streamline the government by elimi-
nating ministries that duplicate tasks.

The new education minister is Ana Elsa Velazquez, rector of
the government’s Frank Pais Garcia Institute of Advanced
Teaching Studies in the eastern city of Santiago, the Commu-
nist Party newspaper Granma said.

She replaces Luis Ignacio Gomez Gutierrez.

New ministers already have been appointed for justice,
transportation and communications since Castro became
Cuba’s provisional leader in 2006, and there is a new Cabinet-
level head of the water resources institute.

Raul’s brother Fidel Castro announced in July 2006 he had
undergone emergency intestinal surgery.

Raul Castro assumed the presidency Feb. 24.














Keith Parker, P.S. News/Features

| IN THE last round, Simone defeated finalists from New Providence,
Berry Islands, Cat Island, Andros and Exuma. VE Cio); Mos! s College, placed second overall

Grand Bahama student senior
is crowned Young Chef 2008

SIMONE BETHEL of the

Jack Hayward High School
Grand Bahama emerged as
the winner of the 16th Annu-
al Young Chef contest.
_ This is the second succes-
sive year that the prestigious
title has been won by a stu-
dent from the Jack Hayward
High School. The 2007 win-
ner was Mervalette Dean.
Both students were coached
by home economics teacher
Katrina Hodges.

In winning the 2008 overall
senior championship, Simone
scored 454 points for her
Robin Hood Flour dish,
"Bahamian Samosa with





Analia's mn Rice Medley

points for "Passion Fruit

: Puffs" and 397 points for
Loquat and Tamarind Chut- ;, on Po:
ney" and 425 points for her Analia's Lobster Rice Med-

Mahatma Rice dish soe sa seh
"Lucayan Indian Rice". EB ae a yo went to
Placing second overall was manuella Gelin of C C

: \ Sweeting Senior High
Analia Lyons of Queen's 8 8
College, who scored 479 School, who earned 400
points for "Coconut Jasmine

Rice with Conch, Crab and
Plantain Ragout" and 459
points for her "Sapodilla

S an [PD i Nn M otors Ltd. Pudding with Fruit Coulis".

Ashley Smith of North Long

Your || Island High School was
fourth with a total of 819

points.

The championship, spon-

Pp re-Own ed sored by Makati Rice aid
‘ Robin Hood Flour, is organ-

ised by the Ministry of Edu-

‘ cation and P S Advertising

and Public. Relations.
Around 140 students from

throughout the islands are jygnasiaH DAMES of L W Young Junior High School, was the

involved each year. junior champion
a
In brief

Russian news
agency says
Soyuz crew
was in danger
on descent

m@ MOSCOW

'







THE crew of the Soyuz
space capsule that landed hun-
dreds of miles off target in
Kazakhstan was in serious dan-
ger during the descent, a Russ-
ian news agency reported
Tuesday, according to Associ-
ated Press.

Interfax quoted an unidenti-
fied Russian space official as
saying the capsule entered

* Earth’s atmosphere Saturday
| | E | | () L E with the hatch first instead of
its heat shield leading the way.

As a result, the hatch sustained

W significant damage.
@) MAN The official said a valve that
equalizes pressure within the
TMA-11 capsule with the out-
side also was damaged.
In addition, the capsule’s
antenna burned up, meaning

Coming to ZNS TV 1 3; the crew couldn’t communicate

properly with Russian Mission

April 22 at 9:30pm, Control, the Official said.

Interfax said another official

with reruns on at the Baikonur launch site in
. Kazakhstan re od that th
Thursday, April 24 at 9:30pm Oe muir enceeaine <







ey
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<®* inventory of Pre-owed SUVs,



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astronaut, Yi So-yeon, and

Fax: 325-0883 ; (394.2254 bag Suet ee Yuri





THE TRIBUNE



Kerzner International
partners with government
and private sector for
Western Esplanade facelift

KERZNER International has
joined forces with the government
and various private. sector enter-
prises including the Rotary Club
of Nassau to conduct a major
facelift to the Western Esplanade
area on West Bay Street.

The area, which is a popular
tourist attraction and hot spot for
residents, will be transformed into
a “beautiful green space with
proper landscaping, drainage and
parking facilities,” it was
promised yesterday. The entire |»
beach along that strip is to be |
cleaned as well.

Kerzner International’s presi-
dent and managing director
George Markantonis, Minister of
Public Works and Transport Dr
Earl Deveaux and Bill Thomson,
first trustee of the Bahamas
Rotary Club of Nassau, under-
took a walkabout of the area last
week along with other stake-
holders.

According to Kerzner Interna-
tional officials, phase one of the
upgrade will be completed by the
end of next month.

Much of the work will be con-
ducted by Enviroscape, which has
assisted Kerzner International in
upgrading a number of green
spaces across New Providence
including Montagu Park.

Aubrey Kemp, president of
Enviroscape said, “We always
strive to reach (Kerzner Interna-
tional’s) goals to improve our
country especially in the area of
green spaces.

“We would like to see a lot
more spaces developed in the’
same fashion.”





:

Neko Grant.



KERZNER’S PUBLIC affairs VP Ed Fields, at centre, points to some of the
work in progress at the Western Esplanade. Also pictured, from left to
right, is Niels Jensen of the Clipper Group Management Limited, Kerzner
International’s president and managing director George Markantonis, Bill
Thomson, First Trustee of the Bahamas Rotary Club of Nassau; Minister
of Public Works Dr Earl Deveaux and Robert Garraway, civil engineer
‘with Ministry of Public Works and Transport.

SAMMY THURSTON shows some of his Bahamian art and craft items to Minister of Tourism and Aviation

KERZNER INTERNATIONAL’S
president and. managing director
George Markantonis greets the
Minister of Public Works and
Transport Dr Earl Deveaux during a
walk along the Western Esplanade.
Also pictured from left to right is
Aubrey Kemp, president of Envi-
roscape; Robert Garraway, civil
engineer with Ministry of Public
Works and Transport; Dean Spy-
challa, general manager of the Nas-
sau Palm Hotel and Kerzner VP for
public affairs; Ed Fields.

Resort forges links with ©
manufacturing, agriculture

DESPITE the daunting challenges of run-
ning a boutique hotel in Cat Island, Sammy
T’s Resort has not only evolved into a thriving
business but also established important link-
ages with local manufacturers and farmers to
boost the island’s economy.

“What we have tried to do here on the
island is create our own cluster,” said resort
owner Samuel Keith Thurston. “I know that in
order for me to operate here, I need the help
of a lot of the locals — the fishermen, the farm-
ers, even the taxi drivers. So I have been try-
ing to pull it all together and utilise as much of
the resources that I can find here on the island
before I go off to Nassau to bring them in.”

Meals

A stay at Sammy T’s includes meals pre-
pared for the most part with Bahamian-grown
produce, fish and shell fish caught by local
fishermen, and Oasis Water, which is bottled
in Cat Island.

Dinner is accompanied by the music of
Bahamians such as Cynthia Strachan — a jazz,
blues and pop singer who hails from the Dum-
fries settlement.

Sammy T’s presence for the past five years,
and the resorts’ eagerness to source Bahami-
an products has had a noticeable effect on
the island’s industry, locals say.

“It has encouraged some farmers to grow
more stuff,” Mr Thurston said. “Some of the
fishermen go out more often than they would
have gone. So we have got a conch man, we
have a grouper man. I sort of branch out and
give everybody a little bit.”

Daniel King is one of the farmers that con-
ducts heavy business with Sammy T’s.

Customer

Mr King, who operates seven acres of farm
land which he calls King Farm, pointed out
that Sammy T’s is his single biggest customer.

He also provides vegetables for Orange
Creek Inn, Fernandez Bay Resort and Green-
wood Resort.

Second home owners have also been a large
part of the business. King Farm has been
able to supply winter residents with toma-
toes, sweet peppers, cabbages, cucumbers,
onions, cauliflower, lima beans and hot pep-
pers.

“They know that once I have vegetables,
they don’t have to bring it,” Mr King said.
“They want something that is Cat Island any-
way.”

Mr King grows all his produce through the
pothole farming method and said he is enthu-
siastic about sharing his work with younger
Cat Islanders.

Tim Aylen

< fi

2.

WEDNESDAY, APRIL 23, 2008, PAGE /

PROPERTY DESCRIPTION: Single Family
Residence, 3 bed / 2 bath

PROPERTY SIZE: 11,988

FLOOR AREA: 1,710 sq. ft.

LOCATION: East on Carmichael Road from
Bacardi Road take the 1st asphalt paved
easement on the right. Property is 150 ft
south of Carmichael Road.

APPRAISED VALUE: $232,000

SOUTH BEACH ESTATES SUBDIVISION ©
LOT NO. 1 Block 22

PROPERTY DESCRIPTION: Split Level
Residential Building. with 3 Apts.
PROPERTY SIZE: 6,600 sq. ft..
LOCATION: Travel south along East Street
from Bamboo Boulevard take 1st corner on
right - Bougainvillea Blvd . Heading west
on Bougainvillea Blvd. take the 2nd corner
on the right Madeira Avenue come to the
“Ts junction and turn left onto Oxford Drive.
Property is 3rd house on the right at the
western corner of Serville Drive and Oxford
Avenue. :

APPRAISED VALUE: $397,000

3._ STAR ESTATES EASTERN DISTRICT

LOT NO. 67

PROPERTY DESCRIPTION: Incomplete
Split- level Multi-Family Duplex

PROPERTY SIZE: 7,000 sq. ft.

LOCATION: Traveling east along Prince
Charles Drive take the 1st corner on the right
past Sea Grape Shopping Plaza. Heading
south on Jupiter Way bearing left around the
curve, the subject property is the third lot on
the left past the curve.

APPRAISED VALUE: $TBA

4, TWYNAM HEIGHTS SUBDIVISION

5

LOT NO. 117

PROPERTY DESCRIPTION: Single Family
Residence

PROPERTY SIZE: 8,000 sq. ft.

LOCATION: Take Portland Boulevard east

of Super Value Food Store Prince Charles
Drive - south to the 2nd corner (Continental
Avenue) on the left. Continue around the
curve then take the 3rd corner on the left
(Tropical Avenue), Traveling north the property
is the 10th lot on the left or first property after
passing Tote Avenue.

APPRAISED VALUE: $295,000

; BEL-AIR ESTATES, CARMICHAEL ROAD

LOT NO. 259

PROPERTY DESCRIPTION: Single-storey
Residence . :

PROPERTY SIZE: 6,000 sq. ft.

LOCATION: East on Carmichael Road from
Faith Avenue take the 4th corner on the right
(Turtle Drive)’ property is 4th lot on right.
APPRAISED VALUE: $186,000

6. SOUTH BEACH CROWN ALLOTMENTS

LOT NO. Portion of Lot 52

PROPERTY DESCRIPTION: Single Family
Residence ‘
PROPERTY SIZE: 37,550 sq. ft. :
‘LOCATION: Northwestern corner of Marshall
Road. :
APPRAISED VALUE: $197,000

7. SOUTH BEACH ESTATES WEST



1.

2:

SUBDIVISION

LOT NO. 33, Block 27

PROPERTY DESCRIPTION: Single-storey
Residence, 2 Bed/1 Bath

PROPERTY SIZE: 6,000 sq. ft.
LOCATION: Situated on Oxford Drive.
APPRAISED VALUE: $TBA

KOOL ACRES SUBDIVISION

LOT NO. 9

PROPERTY SIZE: Multi-Family Lot

6,000 sq. ft.

LOCATION: Situated on the cull-de-sac in
Kool Acres.

APPRAISED VALUE: $TBA

OPULENT HEIGHTS SUBDIVISION

LOT NO. 28

PROPERTY SIZE: Multi-family Lot

7,597 sq. ft.

LOCATION: Traveling on Carmichael Road
West of Millar Road, take the 1st new
paved road pass “The Outdoor Patio” on the
left, then take 2nd left then 1st right - the
property is 2nd to the last on right before the
road ends.

APPRAISED VALUE: $75,000



anagement Limited greets Dr Deveaux.

RESIDENTIAL & COMMERCIAL

8. CARMICHAEL VILLAGE SUBDIVISION

LOT NO. 147

PROPERTY DESCRIPTION: Single-storey
Residence, 3 Bed / 2 Bath

PROPERTY SIZE: 5,000 sq. ft.

LOCATION: Drive West on Carmichael

Road from Gladstone Road intersection — ;
— about 2,000 feet on right is entrance to the
subdivision - turn left at the T-junction - the
property is the 19th on the right.
APPRAISED VALUE: $145,000

9. CORAL HARBOUR WATERWAYS

SUBDIVISION PHASE 3
LOT NO. 176 ;
PROPERTY DESCRIPTION: Single-storey

. Residence, 3 Bed / 2 Bath

PROPERTY SIZE: 8,750 sq. ft. ,
LOCATION: Enter Kent Avenue from Coral
Harbour Road - Property is on the right - 1st,
property after 3rd.speed bump.

APPRAISED VALUE: $182,500

10, ENGLERSTON SUBDIVISION

LOT NO. 12 Block 41

PROPERTY DESCRIPTION: Single-storey
Residence

PROPERTY SIZE: 2,810 sq. ft.
LOCATION: On Washington Street
APPRAISED VALUE: $TBA

LOT NO. 1372

PROPERTY DESCRIPTION: Single-storey
Residence, 4 Bed / 2 Bath

PROPERTY SIZE: 6,000 sq. ft.

LOCATION: From the junction of Carmichael
Road and Cedar Way, travel south to the
T-Junction of Cedar Way and Golden Gates
Streets, turn right then take the first corner

{| right, Comet Terrace. The property is the first

on the right.
APPRAISED VALUE: $TBA

’ 12. BRICEVILLE SUBDIVISION

LOT OF LAND

PROPERTY DESCRIPTION: Incomplete Four
Unit Apartment Complex

PROPERTY SIZE: 6,000 st. ft.

LOCATION: Situate on Southern side of a -
Dead-end Corner south of Pine Barren Road.
APPRAISED VALUE: $TBA

13. SUNSET PARK SUBDIVISION

LOT NO. 27 Block 8

PROPERTY DESCRIPTION: Single-storey
Residence 3 bed /2 bath

PROPERTY SIZE: 6,375 sq. ft.

LOCATION: From Carmichael Road and
Alexandria Road travel North on Alexandria
Road, take the second left onto Carib Road,
then the first right onto Phang Road then the
first right onto Carvel Road, go around the
curve onto Parkway Drive and the subject _
property is the third lot on the left beyond the
curve.

APPRAISED VALUE: $TBA

14, SIR LYNDEN PINDLING ESTATES

SUBDIVISION

LOT NO. 3018/ 19

PROPERTY DESCRIPTION: Single-storey
Residence, 3 bed / 2 bath

PROPERTY SIZE: 6,000 sq. ft.

- LOCATION: Traveling east on C.W.

Saunders Highway from Pinewood Gardens
roundabout, take the second corner on the
right (Lady Marguerite Pindling Avenue).
Heading south take the 1st paved corner on

- the left (Lauren Street) then the 2nd corner on

the left (Pear Tree Avenue) the property is the
2nd house on the left painted light blue with a
white asphalt roof.

APPRAISED VALUE: $156,000

VACANT LOTS

3. SANDILANDS ALLOTMENT

LOT NO. Parcel C

PROPERTY SIZE: Single / Multi-Family Lot
7,604 sq. ft.

LOCATION: On the southwestern corner of
Fox Hill Road (South) and a road reservation
two blocks north of Joe Farrington Road and
Yamacraw Hill Road.

APPRAISED VALUE: $TBA

2008 CreativeRelations.net

INTERESTED PARTIES SHOULD SUBMIT OFFERS (INCLUDE TELEPHONE CONTACT AND
POSTAL ADDRESS) TO: ASSISTANT VICE PRESIDENT, CREDIT RISK, P. O. BOX SS-6263,
TEL. 394-6465; FAX: 393-2883, OR CHRISTOPHER KNOWLES (FREEPORT), P.O. BOX F-40876,
TEL: 352-8307; FAX: 352-8221 FOR FURTHER INFORMATION. * WE RESERVE THE RIGHT TO
REJECT ANY OR ALL OFFERS





PAGE 8, WEDNESDAY, APRIL 23, 2008

New proposals could solve our
waste disposal and energy woes



In brief

Olympic flame
route is
scaled back
in Indonesia .

@ JAKARTA, Indonesia

TORCHBEARERS ran laps :
with the Olympic flame in front ;
of an invitation-only crowd :
Tuesday after officials changed :
the relay route from Jakarta’s :
streets to a sports stadium amid ;
pressure from China to keep :
away demonstrators, according :
to Associated Press. :

Police arrested several pro- :
testers rallying nearby and seized :
Tibetan flags and banners in the :
latest actions against a global :
relay that Beijing had hoped :
would promote the Aug. 8-24 :
Olympics. :

Criticism of China’s human :
rights record has turned the :
relay into one of the most con- :
tentious in recent history. Anti- :
Chinese protests have dogged’ :
stops in Greece, Paris, London }
and San Francisco. :

Countries have responded by :
sharply modifying routes and }
boosting security. Indonesia :
deployed water cannons and :
3,000 police officers in the capi- :
tal. :
The staged event in Jakarta :

was not televised live, apparent- :
ly because no broadcaster was :
prepared to pay forthe rights.

The 5,000 people who gath- :
ered at the Bung Karno Stadium :
to welcome the Olympic flame :
under dark, rainy skies were :
mostly government officials, -
flag-waving Chinese nationals :
working in the city, students, and :
people invited by corporate :
sponsors. :

“J am excited to witness his- :
tory,” said Andrea Putri, 15. :
“This kind of thing does not hap- :
pen every day.” :

A handful of others were :
turned away from the stadium
grounds, and the event was’:
mostly ignored in the city of 12:
million. The Olympics are not :
very popular in Indonesia, the }
only country where the 2004
Athens Games were not tele- :
vised. i
Hours. before the torch :
arrived, about 100 demonstra- :
tors held a rally and police :
briefly detained several of them, :
including a Dutch national iden- :
tified as Stef Bolte. i

| HE biggest problem
with garbage is that
it never really goes away.

And dump sites are a huge
threat both to the environ-
ment and to human health - as
we have seen with the recent
toxic fires at the Harrold
Road landfill.

This is not the first time the
dump has been on fire since it
opened in 1972. It happens
quite regularly, and each time
there are more people living
in the area who are affected.
The fumes contain dangerous
chemicals like mercury and
dioxin.

The dump covers about a
hundred acres, and there are
two main disposal sites -
known as cells. One is for
household garbage and one
for construction and demoli-
tion waste. Both waste
streams include toxic materi-
als like used oil, batteries, pes-
ticides, paints, solvents and
their containers.

Currently, the household
garbage cell rises a hundred
or more feet in the air, and a
new cell is being prepared to

replace it. Huge quantities of

used tyres are piled up ina
separate area, and the site
also features millions of dol-
lars worth of derelict shred-
ding and compacting equip-
ment that hasn’t worked in
decades.

Decomposition of the waste
- especially in the construc-
tion and demolition cell - pro-
duces large amounts of gas
which burns uncontrollably
beneath the surface if it is not
collected or vented. Consid-
ering the perenial fires, it is
clear that the dump is not
being properly managed by
government.

Ten years ago the Inter-
American Development Bank
financed a $33 million pro-
gramme to remediate the

_ country's chronic waste man-



agement problems.

At that time, we were pro- :

ducing more than a quarter
of a million tons of garbage
annually, with New Provi-
dence contributing about

. three quarters of that total. It

is estimated at over 300,000
tons today.

Back then the garbage was
simply dumped and spread
out by bulldozers. Out island
communities burned their
garbage in the open to make
room for more. To improve
this system, the IADB pro-
posed new sanitary landfills
at selected sites around the
country, each with an expect-
ed lifespan of 20 years. Only a
handful of these have been
completed.

Landfill

_In Nassau, the new landfill
at Harrold Road was lined to
prevent contamination of the
water table and a venting sys-
tem was supposed to have
been included to avoid gas
build-up. A shredder for gar-
den waste was also planned
(but never installed) and scav-
engers were to be excluded

from the site (an almost.

impossible task, observers
say).

The plan was to implement
a gradual privatisation of res-
idential garbage collection,
with the Department of Envi-
ronmental Health continuing
to play a supervisory and reg-
ulatory role. But that never
happened, and the govern-
ment continues to spend
millions of tax dollars on

new garbage trucks évery

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TOUGH CALL



few years. -

For example, despite the
fact that the new FNM admin-
istration asked private com-
panies to bid on a pilot con-
tract for residential garbage
collection last year, the Min-
istry of Health recently spent
$2.5 million on 10 new trucks.
Firms like Bahamas Waste,

stone - by treating garbage as
a valuable. resource. Hun-
dreds of waste-to-energy
plants are already operating
worldwide and hundreds
more are planned.

Experts see waste-to-energy

facilities as the only viable -

large-scale alternative to land-
fills. And in a small island
state like the Bahamas, the
ability to generate electricity
from our waste stream is a
major bonus.

An even greater bonus
would be removing waste dis-
posal from the national bud-

et.

Historically, many commu-



“Historically, many
communities just incinerated
their trash, and then disposed

of the 30 per

cent residue ina

landfill. But modern plants
first recover reusable materials
and then produce,electricity
by burning garbage as well as

cap

tured landfill gas, leaving

virtually no residue.”

United Sanitation, Impac and
Waste-Not currently handle
most commercial garbage col-
lection on New Providence.
In 1998 the IADB decided
not to recommend the incin-
eration of solid waste here

‘because of the high costs and

the fact that landfills would
still be required to dispose of
the residue. Burning garbage
produces acid gases and toxic
chemicals that must be treat-
ed with expensive air pollu-
tion control equipment.

But with oil prices skyrock-
eting there is new interest in
killing two.birds.with one



nities just incinerated their
trash, and then disposed of
the 30 per cent residue in a

landfill. But modern plants.

first recover reusable materi-
als and then produce electric-
ity by burning garbage as well
as captured landfill gas, leav-
ing virtually no residue.
Tough Call can confirm that
at least two proposals are on
the table to provide multi-mil-
lion-dollar waste-to-energy
facilities in the Bahamas.
Both essentially call for the
government to privatise sol-

_id waste management, and
promise huge benefits in

THE TRIBUNE

terms of both waste disposal
and power generation.

Both proposals estimate
capital costs of about $50 mil-
lion and operating costs of $25
million.

And both would seek to
integrate local waste disposal
firms into some form of pub-
lic-private partnership.

[nites is a Florida-
based firm with a long
history in the field. It man-
ages more than 40 solid waste
facilities worldwide, including
landfills, compost plants and
recycling operations. Innviron
wants to set up a new landfill
on Grand Bahama, provide
sorting facilities and compost
plants at several locations and
generate power on New Prov-
idence by producing biodiesel
and capturing landfill gas.

It proposes a joint venture
with the government and local
partners, but would provide
100 per cent financing for all
facilities.

Electricity

Meanwhile, a local group
called Bahamas Renewable
Energy Resources (led by
Waste-Not Ltd’s Ginny McK-
inney) is proposing to gener-
ate thousands of megawatt
hours of electricity by a
process that will capture land-
fill gas and convert most solid
waste to energy, leaving a
residual non-toxic slag that
can be used in road-building
and block-making.

BRER proposes an alliance
of local waste disposal firms
with a foreign partner and
would also provide 100
per cent financing for all facil-
ities.

Both proposals promise to
reduce our reliance on costly
fossil fuels while getting a
handle on our critical solid
waste problem.

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THE TRIBUNE WEDNESDAY, APRIL 23, 2008, PAGE 9

@
The Iribune












you! Are HK or your “noe (or someone you know) always celebrated a

looking at least ten years younger than you actually are? If so, THE TRIBUNE
wants to hear from you. We're looking for timeless beauties - 50 and over - for the
launch Fabulous at Any Age promotion s tarting t this Mother's oa

* The Athlete: Still playing on nthe softball team? Never miss a walkin
marat thon? Love to ue your heart t pumping with an dl morning swim





seven inches, one ue “Up: and the other a full: -lengt th shot. You may oe scan and
e-mail application forms and images to features @tribunemedia.net. Include the
following information in the e-mail or on the back of each photo: age, birth date,
address and phone numbers. |
Photos will not be returned.
All entries must be received by May 2nd, 2008. Good luck.

¢SEE APPLICATION FORM BELOW

“Fabulous at Any Age” The Tribune & Fobn A Bull

Name: | Lac Age: Date of birth:
Address: | 7 | Phone number - Day/Evening and Cell:

1. Tell us what makes you an Ageless Beauty (100 words or less):







2. Beauty secrets: Tell us about your defining feature and how you maintain it (100 words or less):

A. Body Beautiful:
_ B. Silver Fox: -

C. The Athlete:



3. Life Lessons: What important life lesson/s have you learned that you can share with chers who
want to follow your example for a healthy, active, beautiful, “ageless” life (100 wordsr less):
| a
sc Ss Ec etc Sec ts a a ee gg





PAGE 10, WEDNESDAY, APRIL 23, 2008

THE TRIBUNE



Senator calls for reform of ROReaaiiniiteaiiccrran
after string of robberies

: M By TANEKA THOMPSON

Airlines
FROM page one

were able to increase their tick- :
et costs by $10 per person, but :
that benefit proved shortlived :
for the airline as fuel costs esca- :
lated unabated. :
“At that particular time, :
March 1, we were paying about :
$3.85 (a gallon) for jet fuel, it’s :
now up to $4.54,” Mr Rolle said. :
The CEO said restrictions :
have “caused (airlines) a lot of :
pain because really and truly the :
kind of prices that need to be:
charged for us to make a profit
might be difficult on the travel- :
ling public.” i
He claimed that, while cus- :
tomers are willing to pay more :
to fly to the United States, they :
are not so disposed to forking :
out the dollars for domestic trav- :
el. ;
“Tf you don’t have big brother :
standing here with you you:
could go under...the partnership :
is making both of us strong so :
we can work things out and get :
through the whole struggle of :.
it,” said. Mr Rolle. :
The venture will improve :
opportunities for consumers by :
allowing the airlines to expand :
the routes and frequency of :

flights they offer. i

_ Currently Regional Air oper- :
ates several nine-seater planes :
which, due totheir size, cannot :

‘service some cf their Northern :
Bahamas routes to the degree :

’ that they are in demand. i
Sky Bahamis’ 33-seater }
planes can now by used for the :
more in-demand ‘routes while }

Regional Air’s smaller planes :
can provide coverag\ for the less :
“high density” trips. :

“We came togethe to better :
utilise our services. Tére’s a lot }

of synergy between\is and I:
think it’s going to boen, said }
Mr Rolle. :

The airline. opéeators’ i
announcement came the:
same day that Senator Attho- :

- ny Musgrove told the Kivanis :
: Club ina presentation that syall i
Bahamian airline operatorsyre :

. being “undermined” as longas :
government continues to pp- :
vide “unlimited financi] :
resources” to Bahamasair whil :
failing to hold the airline to thi

“same financial standards” as

private companies.

country’s aviation industry

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

AN FNM senator is calling for a reform of the
country’s aviation industry which-would have
Bahamasair, Western Air and Sky Bahamas join-
ing forces to service all of the islands and poten-
tially save taxpayers millions of dollars.

Speaking at the Kiwanis Club meeting last
night, Senator Anthony Musgrove said that gov-
ernment’s unlimited financial support of the heav-
ily indebted Bahamasair is undermining the avi-
ation industry.

In his written presentation, he contended that —

allowing the likes of Sky Bahamas and Western
Air and the other companies operating regular
scheduled flights to access Bahamasair’s reser-
vation platform would let Bahamasair truly
become the national airline by ensuring access to
all major airports.

“Just imagine the impact that this simple action
could have, especially in having national and
international tourists accessing all islands within
our country.

“Together, Bahamasair and Sky Bahamas and
Western Air and the others could create a perfect
fit through the reformation which will ensure
that they amicably.co-exist,” he said.

This comes as local airlines Sky Bahamas and
Regional Air announced that they are entering
into a strategic alliance to ensure their survival in
the face of ever-increasing fuel prices.

Addressing the Kiwanis Club yesterday, Mr
Musgrove said the culture of having government :
funded and owned entities competing directly :

with private-companies is damaging the aviation - armed men believed to be respon-
: sible for a string of separate
: °°> + armed robberies in Nassau on
there appears to be the perception that a price : Monday. pS
war is taking place as these private operators are :

industry.
“Despite the growth in the air travel business,

being forced to compete against each other on the
one hand, and they are also competing with the
national airline on the other hand, which we all

vately-owned companies,” he said. —

The airline industry, the senator said, is being }
undermined by the assistance of “the visible hand :

of government, with the possibility of creating :

bad blood between young and promising busi- | made off with a deposit bag con-

: taining cash from the employee.
Mr Musgrove said the opportunity is ripe for : Police said the robber escaped in
the aviation industry to grow and at the same : ae travelling south on Nas-
time reduce the financial burden Bahamasair : S@UStteet.

nesses.”

continues to have on the taxpayer.

Bahamasair along with the Civil Aviation Depart-
ment and increase Bahamasair’s role to provide

owned,” he said.

Tribune Staff Reporter
tthompson@tribunemedia.net

POLICE are hunting three

Asst Supt Walter Evans said

: that, around 12.30 pm Monday,
? an employee of the Royal Palm
:- Hotel on Nassau Street was walk-
agree has ‘unlimited’ financial resources and are :
not held to the same financial standards as the pri- :
: white shirt, blue denim trousers,

ing to a vehicle when accosted by
a “dark” gunman dressed in a

and wearing a pair of “rainbow

shades”.
ASP Evans aaa the bold thief

Police are also investigating an

“Therefore we should not sit by and allow this armed ronbery: Which: Happ=ned

opportunity to reform a vital industry to pass us :

shortly before 7pm on Monday.
ASP Evans reported that two

: a ‘ : men - a gunman about 6ft lin tall
“Imagine the opportunities that will become : ‘anq 4-«

available if we can marry the expertise of : entered Burns House in the Inde-
: pendence Shopping Centre and
: robbed the facility of cash.
enhanced oversight to the air transportation :
industry, which is predominantly Bahamian- :
: nesses told police. The abandoned

short” accomplice -

The men fled in a white Nissan
Sentra, registration 169566, wit-



vehicle was later recovered in
Blue Hill Estates, ASP Evans
said.

Police also reported that
around 10pm Monday, a 54-year-
old man was at his West Bay
Street home when a knife-wield-
ing man entered his residence.

The assailant demanded keys
to the homeowner’s vehicle and
his ATM bank cards. The thief
escaped in the resident's Honda
Pilot vehicle.

Police recovered the stolen car
in the parking lot of Fidelity Bank
in Cable Beach.

Last week a machine-gun toting
armed robber terrorised down-
town food-store A Wong and
fired two shots at employees
before fleeing the scene on foot.

Two brazen armed thieves
robbed Lucky Food Store on
Market street last week Wednes-
day. As they fled the scene, they
were thwarted by an off-duty
police officer who exchanged gun-
fire with the assailants.

They were able to escape
apprehension but a bag containing
cash was recovered at the scene,
police said.

Police investigations continue
into these robberies.

Meanwhile, ASP Evans.cau-
tioned the public to be vigilant.

Pathologist describes injuries suffered by British toddler

statement had not been taken under cau-

@ By NATARIO McKENZIE

A LOCAL pathologist yesterday
described the severe head injuries a
British toddler suffered as a result of
being struck by an out-of-control speed-
boat while on holiday in the Bahamas
with his parents in 2002.

The trial of the three men charged with

manslaughter by negligence in the death.

of two-year-old Paul Gallagher Jr, con-
tinued in Supreme Court yesterday with
three prosecution witnesses being called
to testify.

The first, Dr Govinda Raju — a foren-
sic pathologist - who performed an

. autopsy on the toddler a day after his

death, told the court yesterday that the
deceased had sustained a fractured skull,
subdural hemorrhaging and lacerations to
the brain. Dr Raju stated that the two-

year-old had died as a result of blunt
force trauma to the head.

Paul Gallagher Jr., of Orpington,
south-east London, died at Doctors Hos-
pital on August 20, 2002, five days after
he was struck by a speedboat which had
crashed on to the beach where he slept.

The toddler was on holiday with his
family at the Atlantis resort on Paradise

Island.

The boat’s driver, James Bain, along
with boat owners Clifford Nottage and
Evangeless Williamson, are on trial for
manslaughter by negligence in connec-
tion with the toddler’s death.

Yesterday Dr Raju, in recalling his

external examination of the boy,

described various contusions the toddler
had suffered to the right side of his head.
Dr Raju also said there was extrusion of
brain matter in the right temporal area.

’ Another prosecution witness, Corporal
Keno Smith, told the court that he was
present when Asst Supt Paul Rolle inter-
viewed Clifford Nottage, one of the own-
ers of the speedboat.

Corporal Smith said he had arrested
Nottage for negligently causing the death
of Paul Gallagher by allowing James Bain
to operate the speedboat knowing that
he was not qualified to do so, as he did
not have a master’s licence.

Corporal Smith said during the inter-

view Nottage denied committing the
offence.

Constable Joel Johnson, who testified
last Friday, was recalled to the witness
stand yesterday. He had previously told
the court he had spoken with Evange-
less Williamson the day the accident took
place.

Yesterday, Constable Johnson said the

tion as Williamson had not been a sus-
pect in the matter at the time.

Despite the fact that the statement was
not made under caution, prosecutor
Anthony Delaney made an application to
have the statement entered into evidence.

Constable Johnson then read the brief
statement in which Williamson stated he
was one of the proprietors of Sea and
Ski Water Sports.

Williamson also stated that on Thurs-
day, August 15, James Bain and another

. man had been operating an 18-foot ves-

sel which lost control and crashed on to
the shore. Williamson had claimed Bain
and a young white boy had been injured
in the accident.

The trial, which is being heard before

. Acting Justice Elliot Lockhart, contin-

ues at 10am today.

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Employment
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©2008 CreativeRelations net

FROM page one

The witness said she and her
boyfriend had frequent argu-

- ments,:and she would trayel to

Eight Mile Rock to stay with
her sister during these occa-
sions.

She also went to the area 4 to
help take care of her sister’s
children on weekends and
sometimes during the week, she
said. The weekday trips to her
sister’s would last two to three
days.

Every time Taylor got paid
on Fridays he drank, said the
witness, which led to the regular
arguments between the two.

The couple separated in 2005,
but Ms Brown claimed that she
continued to live with Taylor’s
mother at the Pioneer’s Loop
address despite having a new
boyfriend from Eight Mile
Rock shortly after the break-
up. Taylor, she. said, moved to
Nassau.

Under cross-examination
from Philip Davis, Ms Bridge-
water’s lead attorney, the wit-
ness acknowledged that other
people lived at the Pioneer’s
Loop address after being
pressed. She initially said that it
was only her, her boyfriend, his
mother and her four children.

Ms Brown initially said that
she did not know if Theresa
Johnson lives at the house.
After further questioning she
said that Ms Johnson does live
at Pioneer’s Loop. However,
the witness claimed she did not
know when Ms Johnson began
living there.

Ms Brown further acknowl-
edged that Darren Ferguson
lives at the house with Sheva
Taylor — they are a couple — and
her four children. However, Ms
Brown said she could not
remember when he moved
there.

Later she said that Darren
and Sheva moved into the
house around the year 2001,
while also acknowledging that
Sherry Lee Taylor lived at the

\ouse with her seven children.

There was another discrep-

acy in Ms Brown’s testimony

Tyarding when Leon Taylor,

« former boyfriend, moved
ou

litially she told the court
thahe left in 2005, but her lat-
er ltimony brought this into
quesyn. She said that her three
daug:ers had to be placed ina

childin’s home in 2006 as a

result f an argument she and

Taylohad. This contradicts

what Sk initially said, which

was thafaylor left in 2005.

€T jaintaining that Taylor
never rjrned to Pioneer’s

Loop aftehe left in 2005, Jus-

tice Jon Isycs asked about the

discrepanv, Ms Brown said
that she do; not keep up with
the dates, a4 remembers that

Witnesses

the girls were placed in the
home for a day around 2006.

It was also revealed in cross-
examination that one of Ms
Brown’s daughters has not lived
with her — as she first suggested
— since July, 2007.

The witness told the court
that she sells cake and is regu-

‘larly out of the Pioneer’s Loop

residence as an explanation of

the whereabouts of her house-
mates.

Sheldon Simmons, whose
vote is also being challenged by
Ms Bridgewater, also had diffi-
culties in testimony, telling con-
flicting accounts of when he
moved out of an apartment with
his wife.

Mr Simmons first said that he
told his wife that another
woman had a child for him sev-
eral weeks after the child was
born in March, 2007, before he
moved back to his parents’

house at Pioneer’s Loop.

Mr Simmons then said that
he told his wife about the child
three or four days into the new
year, then moved out.

His last account of the move
in cross-examination was that
the baby was born in March,
2006, and he told his wife three
or four days after this before he
moved out.

Kriston and Kendal Culmer —
brothers being challenged by
Ms Bridgewater — also took the
stand yesterday.

not specifically being aware of

Kidney drug used in Bahamas

FROM page one

Illinois, which also supplies The Bahamas.

“We do use heparin supplied by Baxter Inter-
national,” said a duty nurse who spoke under
terms of anonymity. “We do not know if our sup-
ply is contaminated and I am not certain what pre-
caution we will be taking at the moment but we
are looking into it and I’m sure hospital officials
will alert us on the next step to take.”

The nurse further stated that she heard about
the tainted heparin earlier yesterday.

“I was made. aware of it through the interna-
tional media,” she said: “But again, I am uncertain
if we have gotten a‘bad supply.”

American FDA officials believe a man-made
chemical called over-sulfated condroitin sulfate
(OSCS) may be responsible for dozens of deaths
and hundreds of adverse reactions in the United
States associated with contaminated heparin
between roughly last November and February.

Last night, Health Minister Dr Hubert Minnis
confirmed that PMH.stocked the Baxter drug,
but said he had been assured that local supplies
were not contaminated.

FROM page one

paving of the 7,300-foot runway
at Mayaguana was going to be

awarded to a “private company”

of which a politician had partial
ownership.

This company, Mr Gray said,
was Bahamas Hot Mix - the same
company over which Mr Symon-
ette was forced to resign on June
19, 2001, when he was chairman
of the Airport Authority.

At the time Mr Symonette was
accused of awarding a contract
to the company, of which he and
his brother were major share-
holders, without prior approval
from the airport’s board of direc-
tors.

Said Mr Gray: “It is proposed

_ that the paving of the airport in

FROM page one

Deputy PM denies

Mayaguana and the road works
be given to a private company
called Bahamas Hot Mix.

“Now my understanding is that
that company is owned in part
by a politician and if that is so I
will have much more to say about
that.

“But I am waiting until such
time that a contract is signed
before I make a formal statement
on that,” he said.

However, when contacted yes-
terday for comment on the mat-
ter, Mr Symonette told The Tri-
bune that he no longer had any
dealings with Bahamas Hot Mix,
and further, the I-Group, who
are developing the Mayaguana

project, handle all of their own
paving work on the island them-
selves. -

Confirming this, Minister of
Works Dr Earl Deveaux said his
Ministry had not entered into
any contracts in Mayaguana at
all.

“The only airport contracts we
have is the one in Abaco and the
conclusion of the one with the
Rowdy Boys in Long Island. First
of all if there is a contract it would
have to be the I-Group entering
into the contract, but certainly
not the government. But I have
no idea that any contract has
been entered into,” Dr Deveaux
said.

Known death toll

should have the right to bury their loved ones.”

Mr McKinney has been leading the search
assisted by BASRA and the US coastguard since
the accident on Saturday evening, and expanded
the search on Tuesday as far west as north
Andros, north to the Berry Islands and eastwards
to Eleuthera.

_ The boat, believed to be an older vessel man-
ufactured without foam padding, has sunk and not
been recovered.

Mr McKinney said there is now no hope of
finding survivors.

He added: “We have recovered the bodies of 12
women and two men, and we do not know the
identity of any of them.

“They have no personal effects but for one
small green bag, containing an assortment of
papers and an address book, and a jacket.”

He presumes the passengers were migrating
to Bimini in a human smuggling operation which
may have continued to the United States.

He said: “That is the direction the investigation
is pointing. It is not normal to find 20-something

people on board a small go-fast boat, so we can
only suspect it is possible smuggling.”

Survivor Ivan Lopez, from Honduras, said he
was out on a conching expedition in the Berry
Islands in a 14-foot fishing boat when he came
across the migrants whose boat was taking on
water.

He lent the group a battery and a pump to
help pump water out of the boat, but it sank with-
in two hours, and the frightened migrants piled on
to Mr Lopez’s tiny vessel, causing it to sink.

He and a Haitian man swam for help at around
10pm on Saturday and were not discovered until
6.30pm the next day, when they were reunited
with a Haitian woman involved in the accident.

Evidence has been handed over to Bahamas
police for investigation as the Royal Bahamas
Defence Force continues the search.

Police Commissioner Reginald Ferguson
declined to comment on the case, and Missouri
Sherman-Peter, permanent secretary for nation-
al security, was unavailable for comment.





WEDNESDAY, APRIL 23,



TENNIS:
KNOWLES,
BHUPATHI
IN ACTION

MARK Knowles and
his Indian partner
Mahesh Bhupathi are
currently playing in the
Monte Carlo Masters
Series in Monaco.

The duo are the num-
ber four seeded team in
the tournament. After
getting by in the first
round, they will now face
the team of Marcelo
Melo and Andre Sa of

- Brazil.

They are in the top
half of the draw, which
could see them go on to
play the top seeds of
American identical twin
brothers Bob and Mike
Bryan in the semifinal, if
they play through to
form.




























TRACK:
CATHOLIC
PRIMARY

MEET

THE annual track and
field meet for the
Catholic Primary
Schools will be held at
the Thomas A Robinson
Track and Field Stadi-
um, starting at 9am on
Friday.

Catholic Primary
Schools in New Provi-
dence and Mary Star of
the Sea from Grand
Bahama are all expected
to participate.

’ Last year, St Thomas
More captured the title
with Xavier’s Lower
School coming in as the
runners-up.
























































CRICKET:
CLICO |
KNOCKOUT

THE CLICO Interna-
- tional under-15 Cricket
Championship knockout
competition got started
in Barbados on Satur-
day.

The Americas team,
with Bahamians Jer-
maine Adderley and
Rudolph Fox as mem-
bers; defeated Kenya by
six wickets in a knockout
match. ,

The win advanced the
team to the semifinal
against the West Indies
in St Kitts. The match
was scheduled to be
played yesterday. But no
results were available.

The Kenyans were
restricted to a total of
133 runs.

Top bowlers for the
Americas team were
captain Nitish Kumar of
Canada, who took three
‘wickets and Joshua
Gilbert, who took two
wickets.

Gilbert led the Ameri-
cas batting with a score
of 43 runs not out for the
victory. Rudolph Fox

didn’t get the opportuni-
ty to bat.

& By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.het

SO far triple jumper Leevan ‘Superman’ Sands and
sprinter Debbie Ferguson-McKenzie are among lead-
ers in their respective events as the trek to the 2008
Olympic Games in Beijing, China, heightens.

Sands, who surpassed the A qualifying standard
for Beijing over the weekend, follows only Cuban
Arnie David Girat on the men’s triple jump list.

While Girat has consecutive leaps of 17.50, 17.42
and 17.32, Sands is next with 17.25.

Ferguson-McKenzie, on the other hand, now has




er

2008

qualifies for Olympics



AFTER COMING SO CLOSE to breaking the 46-second barrier in men’s 400 metres, quarter-miler
Andretti Bain finally did it over the weekend at the John. McDonnell Invitational at the University of
Arkansas where he qualified for Beijing.

the fifth fastest time in the women’s 100 mets 1n
11.15. Kelly-Ann Baptiste of Trinidad and Toba? has
emerged as the front-runner at 11.06. Wiss
No Bahamian is listed on the men’s 100, wich is
headed by Trinidad and Tobago’s Richard Thapson

with a time of 10.00.

an impressive 44.56.

Derrick Atkins, the world outdoor 100 silvemedal-

’ ist, is 15th in the 200 in 20.66. Martina Churaty of the
Netherlands Antilles is out front with 20.1/ :

In the 400, Andretti Bain is sitting in nin) place in

45.38 after he also qualified for Beijing American

world champion Jeremy Wariner leads tt field with

Shamar Sands has clocked 13.68 for 2’t in the 110







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

pared to those guys,’Bain reflect-
ed.

“But during the ‘ce coming on
the back stretch avy, I felt a little
tension coming o My hamstring,
the same hamstag that I felt at
indoors, which ]/as Just overcom-
ing, so I didn’t/ant to damage it
anymore. So orhe home stretch, I
had to dig dow deep.”

With an at‘ude that “I refused
to lose” anWith “the grace of
God,” Bainaid he decided to go
for it and clllenge the guys down
the stretch :

Now th he’s in the big league
with the @er top notch Bahamian
quarter-jlers, including co-nation-
al reco; holders Avard Moncur
and Ct} ‘Bay’ Brown, Bain said
he has!0ther lofty goal - he wants
to dipader the 45-second barrier.

«Rat now, I like where I’m at in
trairg- I had a good training ses-
siop day. where I worked on some
of ¢ things needed for me to go 44
se4ds, so I think the next time I
ry 400, it will be at our confer-

dd the name of quar-

ter-miler Andretti

Bain to the list of

& Bahamians who have
qualified for the 2008 Olympic
Games in Beijing, China, in August.

After coming so close to breaking
the 46-second barrier in the men’s
400 metres, Bain finally did it over
the weekend at the John McDon-
nell Invitational at the University
of Arkansas where he qualified for
Beijing.

With his winning time of 45.38
seconds, Bain surpassed the A qual-
ifying standard of 45.55. He became
the first of the Bahamian quarter-
milers to achieve the feat this year.

Bain, who is preparing to sit his
final exams next week at Oral
Roberts University, said he was
thrilled to have finally got the mon-
key off his back.

“T’ve been hitting 46s for the past i
two or three years and I told my | ¢€ meet in two weeks,” he pro-
coach I was just getting frustrated,” - ited. ae

said Bain from his dorm yesterday. ; 4 47 should definitely get me
“After the indoor nationals, I felt frough the conference, but I will
that I was definitely going to break “IK with my coach about whether I
the'46 barrier this year. I was hop-?Will go for the 44 or just wait for
ing to just run a 45.8 because I wasthe regionals and the nationals.
coming off a slight ankle and han’ opefully, before I’m finished with
string sprain.” college, I should run at least three
But Bain said his eyes lit up whi 448. ‘ :
he saw the 45.38 flashed on t Sounds like the national record of
screen. In fact, he had to tak? 44.45 held jointly by Monucr and
double look because he di¢t Brown could be in jeopardy?
believe that he ran that fast. ” “The last time I made a state-
“It reassured me that I’m @g ment about the national record, I

the right things and I will deftly got a call from Chris Brown, who
run fast this year,” said the fmer said he heard that I was going after

St John’s College graduate,ho is it,” Bain pointed out.
actually trying to concentraâ„¢ore But right now, my sights are not
on the 400 hurdles this yee on the 400 national record because
However, Bain said thec® Was I’ve been trying to concentrate on
an extremely competitive that the 400 hurdles. But the way things
came down to a showdoweetween are going now, me and my coach
him and two other comtitors on are projecting to run 44.5 or bet-

: stretch. ter.” :

preteen a wagle to out- If the record holds, Bain said h
sprint Barton CountyOmmunity —_ will take it. But he warned Moncir
College’s Tabarie H'TY (45.42) and Brown that he intends to even-
and Southest Miss!ti’s Miles tually go after it, even if he has to
Smith (45.67) to secre his historic wait until the Olympics in August.
run. “Coming off thturn, I found But for now, Bain said he just
myself about sever¢tres behind wants to bask in his glory and con-
the guys who car second and __ tinue his studies for his final exams
third. That was unpected consid- at Oral Roberts University before
ering the fact thal knew flat out he bring his college career toa

that I had a bette200 sprint,com- _ close.



‘Superman’, Ferguson-McKenze among leaders

hurdles. American David Oliver leads a strong US
field with 13.08 that tops the list.

In the long jump, Rudon Bastian has cleared 7.89,
which would have placed him on the list, but his per-
formance was one of 12 that were wind-aided.

The Bahamas is also sitting in sixth place on the
men’s 4 x 100 relay list as they attempt to qualify for
the Beijing Olympics. The Bahamas will have to be
one of the top 16 teams in the world to qualify.

Two Bahamians are on the list for the women’s
200. Grand Bahamian Nivea Smith’s gold medal per-
formance of 23.01 at the Carifta Games in St Kitts has
earned her Nol3, while Cache Armbrister is 34th
with 23.30.

Walker Moss upset with Atlantic Medical disqualification

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

FOR the past nine years, Philip
Moss has dominated the men’s walk
segment of the Atlantic Medical
Race.

On Saturday morning, he attempt-
ed to go for his 10th straight title. But
during the race, Moss said he was
informed by Bahamas Association of
Certified Officials (BACO) president
Ralf McKinney that he had been dis-
qualified.

Moss, however, felt it was a delib-
erate bid by several people to dis-
courage him from keeping his win-
ning. streak alive as he had been
informed from last year by one of the
organisers, Darren Bastian, that they
were trying to project a new image.

“Last year, Darren Bastian asked
me to let someone win and I told him
no because I’m not giving away any-
thing just like that,” Moss insisted.

“J did it for two years in Grand
Bahama, but I’m not doing it again.”

Though he’s always played a vital
role in the promotion of the event,

Moss said he wasn’t called to partici-
pate on the “Down Home” and the
“Early Morning at Sunrise” shows,
as well as the press conference.

Participate

“I wasn’t invited to’ participate in
any of those events,” Moss stated.

But Moss said it was evident that
organisers wanted someone else to
win because he’s not certain why he
was disqualified by BACO when he
didn’t do anything wrong.

“When you’re going to judge a rac¢

walling competition, you have been
cerfied and qualified and you have
toiave a certificate,” Moss pointed
ov.

‘We don’t have race walking in this
ountry. All we have is fun run/walk.
Went to the Dave McGovern world-
lass training camp in the United

States to learn my technique. If you

don’t understnd the technique, you

can’t judge it.”

Moss said there are just too many
people in the country who hate the
fact that every time he enters the
competition he wins.

“They slander my name saying that
Phil Moss was disqualified for run-
ning,” Moss charged. “When Ralf
McKinney told me that I was dis-
qualified, I asked him to show me
what I did wrong. He told me that he
wasn’t there to discuss it.”

Bastian was unavailable for com-
ment.

Moss said he is going to take the
organisers and BACO to court
because he felt that justice wasn’t
served. He said he never ran, and was
hurt that he was penalised in the
wrong way.



- PAGE 12, WEDNESDAY, APRIL 23, 2008 TRIBUNE SPORTS



3 Mi .- i... i Se
5
p



By The Associated
Press

SCOREBOARD

Wednesday, April 23

Philadelphia at Detroit
(7:30 p.m. EDT). The
76ers stunned the Pistons
90-86 Sunday in Game 1
of their first-round series.

STAR

Monday
— LeBron James, Cava-
lies, had 30 points and 12
asists to lead Cleveland
‘| to 16-86 rout of Washing-
| ton.

RO,LING
CLIVELAND played
their bet game in months,
blowingut the Washing-
ton Wizéds 116-86 Mon-
: | day nighto take a 2-0
lead in aNpening-round
playoff sens, The 30-
point mar. of victory
was the larg:t in Cleve-
land’s postséon history.
Washington ls Jost eight
straight gameo the Cav-
‘| aliers in the pleoffs,
Utah beat Histon 90-
84 on Monday tht to
‘| take a 2-0 lead ithe best-
of-seven series. Gne 3 is
Thursday night iNtah,
| where the Jazz we.37_4
-| during the regular ysop.

:| SKILES THE Li\y

THE Milwaukee Bxg

| moved quickly to fina

| their new coach, signit,

| Scott Skiles to a four-y,

| deal and introducing hii -

| at a news conference"
Monday.

Skiles takes over for
Larry Krystkowiak, who \
was fired last week after a \
disappointing season.
Skiles spent nearly three
full seasons in Phoenix

“4! after taking over for Dan-
_.-] “ny-Aingé early in the
1999-2000 season.

He was fired by the
Bulls in December after
making the playoffs in
three of his first four sea-
sons in Chicago.

SIXTH MAN

SAN Antonio Spurs
guard Manu Ginobili won
the NBA’s sixth man
award given to the
league’s best reserve on
Monday.

Ginobili led the Spurs in
| Scoring, averaging a
“4 career-high 19.5 points to
| go with 4.8 rebounds and
4.5 assists.

Ginobili came off the
bench in 51 of the 74
games he played this sea-
son. He got 123 of 124
first-place votes for 615
points. Barbosa came in
second with 283 points
and the Dallas Mavericks’
seen Terry was third with




SPEAKING
“We are playing the
champs. I know they
changed their team. But
they still have the same
coaching staff, the mon-
ster player and he’s taking
over the series.”

— Wizards coach Eddie
Jordan after a 116-86 loss .
to Cleveland on Monday
night. The Cavaliers have
a 2-0 lead in the opening-
round playoff series.









IN THIS March 12, 2008 file pho-
to, Boston Celtics forward Kevin
Garnett screams to the crowd as
he takes the court at the beginning
-Of their basketball game against

the Seattle SuperSonics in Boston.

(AP Photo/Elise Amendola,
File)






Photos: David J Phillip/AP

HOUSTON Rockets’ Tracy McGrady (right), dunks the ball as Utah Jazz’s Kyle Korver (26) defends dur-
ing the second quarter in Game 2 of an NBA Western Conference playoff basketball series Monday, April
21, 2008 in Houston.













































UTAH Jazz’s Deron Willian (8) goes up for a shot as Houston Rockets’ Chuck Hayes (right), defends dur-
ing the fourth quarter in Gag 2 of an NBA Western Conference playoff basketball series Monday, April 21,
2008 in Houston. The Jazz tat the Rockets 90-84 to take a 2-0 lead in the best-of-seven series.

Kevin Garnett wins
defensive player
of the year award

NEW YORK (AP) — Boston’s Kein Gar-
nett won the NBA’s defensive playeiof the
year award yesterday. He beat out Duyer’s
Marcus Camby and Houston’s Shane Batier.

The 6-foot-11 forward led the Celtic:with
9.2 rebounds per game. He added 18.8 pints,
1.2 blocks and 1.4 steals.

Helped

Garnett helped the Celtics to league-bet
records of 66-16 (.805) overall and 31-10 (.73%)



on the road.
Opponents

Boston held opponents to just 90.3 points
(second in the NBA) after allowing 99.2 points
per game a season ago. The Celtics had the
biggest one-year turnaround in NBA history.

Garnett received 493 points, including 90 first-
place votes. Camby, who won the award last
season, finished second with 178 points and Bat-
tier had 175 points.

@ By CHRIS DUNCAN
AP Sports Writer

HOUSTON (AP) — The
Utah Jazz have taken care of
the hard part in their playoff
series with the Houston Rock-
ets by winning the first two
games on the road.

Deron Williams scored 22
points and Mehmet Okur
added 16 points and 16
rebounds as the.Jazz beat the
Rockets 90-84 on Monday
night. Game 3 in the best-of-
seven series is Thursday night
in Utah, where the Jazz went
37-4 during the regular season.

“We can’t get too ahead of
ourselves and worry about
who’s going to win and who’s
going to lose,” Williams said.
“We’ve just got to keep play-
ing, keep fighting.”

The Rockets will need a
near-miraculous comeback to
win in the playoffs for the first
time since the 1996-97 season.
They can conjure hope from
the fact that they handed Utah
one of its four home losses this
season.

But that was at the start of
the regular season, when they
had center Yao Ming, who’s
out with a broken left foot.
Houston will get starting point
guard Rafer Alston back from
a hamstring injury for Game
3, but it may be too late to mat-
ter.

The Jazz have won eight of
the past.10 meetings with the
Rockets.

“Tt’s a must win,” Houston’s
Tracy McGrady said. “It’s even
tougher because they’re such a
great home team. It’s so tough

to-win up there in Salt Lake,

City. It’s going to show what
type of team we really.are.”
In Monday’s other NBA
playoff game, Cleveland beat
Washington 116-86. °\
McGrady had 23 points, 13

rebounds and nine assists, but |

faltered in. the- fourth quarter

for the second straight game...

The seven-time All-Star,
who has never advanced past
the first round of the playoffs,
fell just short of his first post-
season triple-double, but he
went 0-for-4 from the field and
scored only one point in the
final quarter. He scored 20
points in Game 1, but went 0-
for-3 from the field in the
fourth quarter of Utah’s 93-82
victory.

McGrady played 43 minutes
Monday night and said he was
tired at the end, a combination
of Utah’s physical defense and
his efforts to carry his team.

“T had no legs. I was on emp-
ty,” McGrady said. “Banging
with Matt Harpring, trying to
rebound, trying to make plays
for my team, trying to score,
playing 43 minutes. That’s a
lot.”

The Rockets still had their

-chances to win.

_ Luis Scola hit two free
throws with 1:21 to go to cut
Utah’s lead to 85-82.

After Williams missed a dri-
ving layup, Houston’s Bobby
Jackson hit a 3-pointer that
would have tied the game but
Scola was called for an offen-
sive foul away from the ball
when he pushed Andrei Kir-
ilenko.

McGrady blasted official
Tony Brothers for the call and
accused Kirilenko of exagger-
ating the contact.

“You can’t call that,” he

IN THIS Feb. 19, 2008 file photo, Denver Nuggets guard Allen Iverson,

NW Jazz beat Rockets 90-84
LiZay to take 2-0 lead in series

said. “I like Tony Brothers, but
that was a bad call. Very, very
bad call. Three points down,
crucial point in the game and
Kirilenko flops. He flops and
you call a foul on that? It was a
bad call.”

Kirilenko had a different
take.

“It was a foul,” he said. “It
was. the right call, in my opin-
ion.”

Kirilenko grabbed an offen-
sive rebound on Utah’s next
possession and Kyle Korver
flipped in a one-handed shot
as the shot clock expired to put
the game out of reach with 20
seconds to go.

Carlos Boozer added 13
points and Williams had five
assists for the Jazz, who closed
the game witha14-8run.

Jackson bounced back from
a 3-for-15 performance in
Game 1 to score 18 points.

The Jazz led most of the way
and were up 64-61.with 1:47
left in the third quarter when
Williams limped to the locker
room with a trainer after
aggravating a tailbone injury
that has bothered him for a
week.

Ronnie Price, Williams’
replacement, hit a 3-pointer
just before the quarter ended
to give Utah a 69-67 lead.
Williams returned to the bench
before the final quarter began.
’ He was back on the court
with 9:18 left in the game, after
Aaron Brooks went by Price
for a game-tying layup.
McGrady went out for a rest
when Williams came back and
Williams drove for a layup
with 7:41 left to put the Jazz
up 76-74.

McGrady returned with 7:07
remaining and was fouled ona
jumper with 6:39 left. He hit a
free throw to tie the game at
76. Williams hit a-short shot at
the other end to put Utah back
on'top. ;

-: Kirilenko stole the ball from

McGrady near the 5-minute
mark and Williams made a
free throw to give the Jazz an
81-76 lead. McGrady finished
with five turnovers.

“It’s not over yet,” Okur
said. “We’re very happy to get
two wins in Houston. We have
to do the same things in Utah
that we did in Houston and be
ready to go after them at
home.”

CAVALIERS 116,
WIZARDS 86

LeBron James had 30 points,
12 assists and nine rebounds
as Cleveland took a 2-0 series
lead with its largest margin of
victory in a postseason game.
Zydrunas Ilgauskas added 16
points for the Cavaliers, who
led by 25 points in third quar-
ter.

In the third quarter, Wash-
ington center Brendan Hay-
wood was ejected for a flagrant
foul on James. Haywood, who
had an altercation with James

in Game 1, didn’t make much

of an effort to go for the ball
and shoved James hard with
both hands as he drove to the
basket. :

Caron Butler had 14 points
for the Wizards, who have lost
eight straight playoffs games
to Cleveland. Gilbert Arenas
had seven points on 2-of-10
shooting for Washington.

Game 3 is Thursday night in
Washington.



right, goes up for a shot as Boston Celtics forward Kevin Garnett
comes in to cover in the third quarter of the Nuggets’ 124-118 victory
in an NBA basketball game in Denver. Garnett was selected as the
2008 NBA Defensive Player of the Year on Tuesday April 22, 2008.

(AP Photo/David Zalubowski, File)



TRIBUNE SPORTS

WEDNESDAY, APRIL 23, 2008, PAGE 13





‘Yama Bahama’ boxing

gym proposed for Bimini

THE Bahamas Boxing Com-
mission plans to lead the way
in saluting the country’s boxing
pioneer William Horatio But-
ler Jr, better known as “Yama
Bahama.”

This past weekend, a three-
man team headed by Chair-
man Pat Strachan and inclu-
sive of the Commission’s Sec-
retary Fred Sturrup and Com-
missioner David Bowe trav-
eled to Bimini for meetings
with Butler who is also a mem-
ber.

The team also met with
Chief Councilor Tasha
Bullard-Rolle and Adminis-
trator Sherrick Ellis.

All of the meetings were
meaningful and the conclusion
was that efforts would be made
to secure a piece of Govern-
ment land in Bailey Town for
the purpose of building a box-
ing gym in honour of Butler.

Both Chief Councilor
Bullard-Rolle and Adminis-
trator Ellis expressed appreci-
ation for the plan to pay tribute
to the island hero.

The Commission team and
Commissioner Butler looked
at two pieces of properties. A
proposed 50x100 feet section
and another 100x100 lot are
the options.

‘The team determined that
‘following a full meeting of the
Commission, a draft of the pro-
posed gym would be processed
to present to the Bimini Coun-
cil and Administrator Ellis on
a return visit to the island.

Chairman Strachan empha-
sized that the trip was “well
worth it.” He pledged the sup-
port of the Commission to see



PAT STRACHAN (far left), chairman of the Bahamas Boxing Commission, Commissioner William “Yama Bahama” Butler (centre) and Commis-



sioner David Bowe look over one of the sites in Bimini proposed for the building of the Yama Bahama Boxing Gym.

the project through to its com-
pletion with the support of his

colleagues and the Ministry of

Sports.
It is proposed that the build-
ing include dressing rooms/rest

rooms, an office area, an
equipment area and a 40x30
area for workouts and train-

ing.

On Tuesday, members of the
Commission met with Mr Carl

Barely
Legal
wins

title

THE 55th National Fam-
ily Island Regatta got
underway in Elizabeth Har-
bour, Georgetown, Exuma,
yesterday with the comple-
tion of the Junior Champi-
onships.

The junior segment of the
championship featured a
total of three races.

Winning the title was
Barely Legal, skippered by
Bernard Knowles with 35
points. The Termite, skip-
pered by Megan Knowles
and the Sweet Island Gal,
skippered by Mackey Steel,
both ended up with 31.

But by virtue of finishing
ahead of the Sweet Island
Gal in two of the three
races, the Termite came
through in second place.

Today, the action will
continue with the races for
the Commodore Emeritus,
Governor General’s and
Prime Minister’s Cups.

On Thursday, it will be
the start of the series races
that will wrap up on Satur-
day.


































Brennen, under secretary to
the Minister of Youth and
Sports. He was provided with a
report indicating the interest
of the Bimini element and the
desire to work with the Com-
mission to honour Butler.
According to Strachan, the -

Commission will again travel
to Bimini soon to meet with
the Council there.

onte Carlo Masters: Djokovic defeats

Ljubicic to advance to the third round

Bj By JEROME PUGMIRE
AP Sports Writer

MONTE CARLO, Monaco
{AP) — Novak Djokovic

advanced to the third round of

the Monte Carlo Masters by
defeating Ivan Ljubicic 6-3, 6-
3 yesterday.

The Australian Open cham-
pion broke Ljubicic at love in
the eighth game of the first set
for a 5-3 lead and clinched the
set with an ace.

Using a two-handed back-
hand to counter Ljubicic’s

booming serve, Djokovic saved:

two break points in the eighth
game of the second set but was
rarely troubled.

“I came up with a straight-
set win, which is very impor-
tant for me at the start of the
clay-court season,” Djokovic
said. “I played my best tennis
in the most important
moments, and that’s what actu-
ally matters most.”

The Serb will meet Andy
Murray, who beat Filippo
Volandri of Italy 6-4, 6-1.

After missing the chance to
even the score at 4-4, Ljubicic’s
serve withered in the next
game and Djokovic won on his

.first match point when Ljubicic
hit a forehand into the net
from the back of the court.

Djokovic said he took more
time than usual to find his
rhythm before pulling away.

“That’s why I got off to a
nervous start,” Djokovic said.
“But then I played at a very
.good level.”

‘Djokovic’s best showing on
clay:so far was last year’s title
at Estoril, Portugal.

“One of the things that I

~geally try to have this year is
patience,” Djokovic said. “On
the other hand, I’ll try to be
myself and be aggressive, the
kind of style of game that I
always have. So it’s going to
bea real test for me.”

Djokovic leads the ATP race
and has two tournament wins
already this year, compared to
one for top-ranked Roger Fed-
erer. Second-ranked Rafael
Nadal, a clay specialist, is look-
ing for his first.

“I don’t want to push myself
too much and focus on the
points and rankings,” Djokovic



CROATIA’S Ivan Ljubicic returns the ball to Serbia’s Novak Djokovic dur-
ing their first round match at the Monte Carlo Tennis Open tournament,
in Monaco, Tuesday, April 22, 2008. Djokovic won 6-3, 6-3.

(AP Photo/Claude Paris)

said. “I know I have enough
potential to be top of the
world. But I’m only 20 years

_old, I still have a lot of time

ahead of me.”

ALSO ON THE
TENNIS FRONT:

¢ Tommy Robredo of Spain
beat Stanislas Wawrinka of
Switzerland 6-4, 7-5 in the first
round.

Neither player looked com-
fortable in an error-strewn

match, but the 12th-seeded
Robredo capitalized on more
opportunities and broke
Wawrinka’s serve six times. He
faces Robin Soderling of Swe-
den in the second round of the
clay-court tournament.

e Ivan Karlovic of Croatia
also advanced when Sebastien
Grosjean retired with an injury

while trailing 4-6, 6-4, 4-1. The.

Frenchman needed treatment
on his thigh early in the third
set.

« Two-time Grand Slam



SERBIA’S Novak Djokovic serves against Croatia’s lvan Ljubicic during their first round match at the Morte
Carlo Tennis Open tournament, in Monaco, Tuesday, April 22, 2008. Djokovic won 6-3, 6-3.
(AP Photo/Claude Paris)

champion Marat Safin and
Igor Andreev won in straight
sets. Safin beat Xavier Malisse
of Belgium 6-3, 6-2, and
Andreev defeated Dmitry Tur-
sunov of Russia 7-5, 6-3.
Safin faces fifth-seeded
David Ferrer of Spain, while

Andreev plays eighth-seeded
Mikhail Youzhny of Russia.

e Also in the first round,
Simone Bolelli of Italy beat
Juan Ignacio Chela of Argenti-

‘na 6-2, 6-2, and Jarkko Niemi-

nen of Finland dominated
Marc Gicquel of France 6-0, 6

4,

e No. 11 Juan Monaco of
Argentina, Andreas Seppi of
Italy and Ruben Ramirez
Hidalgo of Spain also
advanced in straight sets.
Ramirez Hidalgo will play top-
seeded Roger Federer.



PAGE 14, WEDNESDAY, APRIL 23, 2008

TRIBUNE SPORTS





Long signs five-year, $30m

contract with Miami Dolphins
Will be top pick in NFL dratt

@ By STEVEN WINE
AP Sports Writer

DAVIE, Fla. (AP) — Michi-
gan tackle Jake Long signed a
five-year contract with $30 mil-
lion guaranteed Tuesday with
the Miami Dolphins, who plan
to select him with the No. 1
pick in the NFL draft.

’ Long’s total package is for
$57.75 million, said a person
familiar with the negotiations
who didn’t want to be identi-
fied because the Dolphins
declined to disclose terms.

The Dolphins were interest-
ed in trading the top choice.
When no suitors surfaced, they
décided to sign Long and avoid
a possible holdout. Last year’s
first pick, JaMarcus Russell,
missed all of training camp
before signing a $61 million
contract with the Oakland
Raiders.

“Tt’s such a great honor to
be the No. 1 pick,” Long said.
“I’m real glad we got the con-
tract done so I don’t have to
worry about any of that.”

The new Dolphins regime

Lewis:

me Oir-(!
Johnson
KOI Le!

Route
word mye
sit out

@ By JOE KAY
AP Sports Writer




CINCINNATI (AP) —
Tired of Chad Johnson’s
posturing for a trade,
Cincinnati Bengals coach
Marvin Lewis says the dis-
gruntled receiver should
keep his word and sit out
the season.

Lewis also said Tuesday
that linebacker David Pol-
lack is leaning toward
retirement. The former
first-round draft pick broke
a bone in his neck while
making a tackle during the
-2006 season.

Pollack’s decision isn’t a
surprise. He has said all
along that he doubted he
would return if there was a
chance he could injure the
neck again.

Lewis’ comments about
Johnson were his strongest
yet. The Pro Bowl receiver
has been disgruntled since
the middle of last season,
when his look-at-me antics
came under criticism.

Since the end of last sea-
son, Johnson has been lob-
bying for.a trade even
though he agreed to a long-
term deal with the Bengals
two years ago. Johnson’s
contract would pay him $3
million next season and
extends through 2010, with
a club option for 2011.

Although Johnson
stopped talking to reporters
in Cincinnati last season, he
has done numerous nation-
al interviews in which he
threatened to sit out the
season if he’s not traded.
Lewis responded Tuesday
by saying he should follow
through with his threat.

“T’ve stated our case with
Chad,” Lewis said. “He has
a contract through 2011.
He’s stated without an
opportunity to go to a dif-
ferent team and a new con-
tract, he wasn’t going to
play. I think he’s a man of
his word and says he’s not
going to play, so don’t
play.”

Lewis said the Bengals
haven’t received a trade
offer for Johnson. The club
repeatedly has said it won’t
trade him.














































led by Bill Parcells began nego-
tiations last week with Long’s
agent, Tom Condon.

“Jake was our guy from the
beginning,” general manager
Jeff Ireland said. “Jake Long
was_on the top of our board
for a long time. There wasn’t a
whole lot of debate. We
thought it was a very good fit
with the Miami Dolphins.”

The Dolphins said they did-
n’t begin contract talks with
any player other than Long.

“It was a very straightfor-
ward negotiation,” Condon
said. “They didn’t leverage us
with other players, and we did-
n’t tell them we wanted to be
on some different team or any
of those kinds of things.”

Reaching an agreemént
before the draft isn’t unprece-
dented. The Houston Texans
signed defensive end Mario
Williams as their No. 1 pick on
the eve of the 2006 draft.

Condon said there’s enough

time for the Rams to reach a

contract deal with a prospect
before they. make the second
pick in the draft Saturday.
“My understanding is St.
Louis is on the clock,” Con-
don said with a smile.
Offensive line is considered
the biggest need for the Dol-
phins, who went 1-15 last year,
and new Miami coach Tony
Sparano coached the offensive
line with the Dallas Cowboys.
The only other offensive
lineman to be taken with the
No. 1 pick since 1970 was Ohio
State tackle Orlando Pace,
who made the Pro Bowl seven
consecutive times after joining
the Rams in 1997.
The Dolphins would be
thrilled with a comparable
achievement by the 6-foot-7,

315-pound Long, who is _

expected to play left tackle.

“Jake has all the qualities ©

we’re looking for in our line~
men,” Sparano said. “He’s very
tough, smart and disciplined.
Those are the people we want

to surround ourselves with
here.”

Long started 40 games at
Michigan and was Big Ten
offensive lineman of the year
in 2006 and 2007. He finished
to LSU defensive tackle Glenn

Dorsey in balloting last season ©

for the Lombardi and Outland
trophies.

The Dolphins decided to use
the top pick on offense rather
than take Dorsey, Virginia
defensive end Chris Long or
Ohio State linebacker Vernon
Gholston. It turns out Ireland’s
comment last week about
drafting “a pillar of your
defense” was a slip of the
tongue — or a smoke screen.

“That’s for me to know, and
you to guess about,” Ireland
said with a smile. a

.Miami has eight other picks
and four of the first 64.

e AP Football Writer Dave
Goldberg in New York con-
tributed to this report.



MICHIGAN tackle Jake Long smiles as he answers questions from the
media during a news conference, Tuesday, April 22, 2008, announcing
him as the No. 1 pick in the NFL football draft by the Miami Dolphins at
the Dolphins training facility in Davie, Fla.

(AP Photo/Wilfredo Lee)

Jake set to add to Big Ten’s OL legacy in NEL

lm By LARRY LAGE
AP Sports Writer



ANN ARBOR, Michigan (AP) —
Jake Long’s oversized body spilled out
of a chair as he turned to the right and
glanced at a wall of photos of former
Michigan players in the NFL.

Tom Brady’s picture would stand out

to most, but the 6-foot-7, 315-pound
Long locked in on a row featuring sev-
eral offensive linemen including Jon
Jansen, Steve Hutchinson and Jon Run-
yan.’ >,
“It’s the first time I’ve looked up
there in a while,” Long said in an inter-
view with The Associated Press recent-
ly. “I’m excited to be up there, too.”

Long’s photo definitely will earn a
spot in the recruiting lounge at Schem-
bechler Hall.

He signed a deal Tuesday with the
Miami Dolphins, who will draft Long
No. 1 overall on Saturday.

Miami made Long the first offensive
lineman taken No. 1 in more than a
decade and the fifth in league history.

The St Louis Rams took Ohio State .

tackle Orlando Pace first overall in
1997.

“We had him at the top of our board
for a long time,” general manager Jeff
Ireland said at a news conference in
Davie, Florida. :

Before Long’s negotiations with th
Dolphins became public, the former
Wolverine insisted he wasn’t consumed

. with the possibility of going No. 1.

“It doesn’t matter to me when I get
drafted,” he said. “I’ll be happy wher-
ever I go and I’m going to do every-
thing I can to have a great career. I
have no clue who is going to take me
and I don’t really care because I’ve
done everything to show what I can
do.”

The Big Ten Conference has pro-
duced many men to protect quarter-
backs and pave the way for running
backs over the years.

Some linemen, such as Pace and
Hutchinson, turned out to be Pro Bowl
mainstays — while others, such as
.Michigan State’s Tony Mandarich and
Iowa’s Robert Gallery haven?t suc-
ceeded.

Pace was voted to the Pro Bowl sev-
en straight times before being slowed
by injury the past two seasons.

“Orlando is one of the best players I
coached,” said former Buckeyes coach
John Cooper, a consultant for the
Cincinnati Bengals. “I put him right up
there with guys like Eddie George,
Robert Smith, Shawn Springs, Terry
Glenn and Joey Galloway.”

Hutchinson, now playing for the Min-
nesota Vikings, has been a Pro Bowler
the past five seasons.

Long, a two-time All-American and
Big Ten lineman of the year, seems like
a lock to be a standout if he stays
healthy. But he wouldn’t be the first
lineman from the conference to be a
bust if he doesn’t pan out.

Mandarich entered the draft with
unprecedented hype after the Michi-
gan State tackle graced the cover of
Sports Illustrated in a bare-chested pose
showing off his huge body. The Green
Bay Packers took Mandarich No. 2
overall in 1989, passing up future super-
stars Barry Sanders, Deion Sanders and
Derrick Thomas.

Mandarich flopped miserably for the
Packers and was dogged by rumours



IN THIS October 6, 2007 file photo, Michigan offensive lineman Jake Long (77) goes up against Eastern Michigan defensive lineman Eric
Young during a football game at Michigan Stadium in Ann Arbor, Mich. Long was selected Tuesday, April 22, 2008, with the first pick
in the NFL draft by the Miami Dolphins, who signed him to a multi-year contract four days before the start of the draft.

‘ (AP Photo/Carlos Osorio, File)

he took steroids. He passed tests for
muscle-enhancing drugs and denied
using them. Later in his career, he was
a serviceable player with the Indi-
anapolis Colts.

Gallery has been a lackluster starter
for the Oakland Raiders since they took
him with the second pick in 2004.

“Gallery is an enigma,” said Gil
Brandt, the NFL’s scouting consultant
and longtime personnel director of the
Dallas Cowboys. “I thought he would
be really good and he hasn’t been.”

More times than not, however, the
Big Ten seems to fill rosters in the
league with solid linemen. Each school
in the conference had at least two in
NFL at the start of last year.

Michigan and Ohio State both had
seven linemen on opening day rosters in
2007 followed by Wisconsin (six), Iowa
and Purdue (five each), Illinois (four),
Indiana (three), Penn State, Michigan
State, Minnesota and Northwestern
(two apiece).

“Michigan has prepared guys well
for the NFL over the years because
they not only had to learn how to run
block, but to pass block, too, in our sys-

tem,” retired Michigan coach Lloyd

Carr said Monday. “Jake Long is going

“to be the next great one because not

only is he a special player, but he’s a

great leader.”

The Cleveland Browns took former
Badger Joe Thomas third overall last
year and he played in the Pro Bowl.
The Arizona Cardinals drafted former
Nittany Lion Levi Brown at No. 5 a
year ago and remain upbeat about him
even though injuries stunted his rookie
season.

As a junior, Long beat out both
Thomas and Brown for his first of two
Big Ten Offensive Lineman of the Year
awards. He gambled financially by
choosing to return to Michigan for his
senior season — risking an injury that
could’ve cost him millions — and
Brandt said it definitely paid off.

“Jake Long is going to make a lot
more money for staying in school,”
Brandt said. “And, he’ll be worth it
because he’s a great tackle and a special
person.”

Long gave up just two sacks and was
called. for only two penalties in his
entire career. He joined Pace, Man-
darich and Korey Stringer, a former
Buckeye, as the only Big Ten linemen
to be selected the conference’s best in
consecutive seasons.

During his sophomore season, he
missed the first seven games with an
ankle injury. Long weighed 335 pounds
as Michigan slumped to a 7-5 record

that was so startling, it motivated the
entire team to get into better shape,
including its star tackle. Long lost 20
pounds and kept the weight off the next
two seasons.

Though he’s about to make a lot of
money, Long isn’t taking anything for
granted.

A month before the draft, the son of
a factory worker and sub-sandwich
maker was still driving his 1999 Dodge

. Ram and wasn’t sure if he could afford

to buy a gift for his parents.

“J like to have money before I spend
it,” said Long, who chose not to borrow
a lot of money from his agent, Tom
Condon, like many players do from
their representatives in the months
leading up to the draft. “I’m sure once
I earn some money, I'll look for a new
truck.”

When future visitors look at his pic-
ture in Schembechler Hall, some might
say Long was the best lineman Michi-
gan ever sent to the NFL.

“I don’t know if I deserve that status
because so many greats have come here
and so many are still in the league,” he
said in his aw-shucks style. “It’s an hon-
our just to be in a general category with
those guys, but I have to prove it in the
NFL like all of the great ones from
Michigan have done.”



THE TRIBUNE



Aviation heads to act on climate
change, but set no targets

@ GENEVA :

AVIATION chiefs pledged Tues-
day to address the industry’s impact
on climate change but shied away
from setting concrete targets for
reducing emissions of global-warm-
ing gases, according to Associated
Press.

A declaration signed by trade
bodies and aircraft makers commits
the industry to develop new tech-
nologies with the eventual aim of
achieving carbon-free travel.

The signatories included trans-
Atlantic rivals Boeing Co. and Air-
bus, engine makers Rolls-Royce and
General Electric, and industry
groups such as the International Air
Transport Association, which rep-
resents more than 240 airlines world-
wide.

Environmentalists said the dec-
laration was a modest first step.

“What we urgently need is a com-
mitment to real, aggressive targets to
increase efficiency and ultimately
to stabilize and reduce emissions,”
said James Leape, director-general
of pressure group WWF Interna-
tional, which is also known as the
World Wildlife Fund.

“J don’t yet see the urgency
among industry leaders that we’re
going to need,” Leape said, adding
that public pressure was the main
reason why companies have begun
to act.

The industry declaration promis-
es to work toward alleviating global
warming by helping set up an inter-
national emissions trading program
under the auspices of the Interna-
tional Civil Aviation Organization.

By putting their weight behind
that program, the industry again sig-
naled its opposition to the Euro-
pean Union’s plan for a regional
emissions trading system. The 27-
nation bloc’s attempt to include air-
lines in its cap-and-trade program
is opposed by the airline industry
as well as the U.S., China and other
nations.

“Europe’s unilateral approach
will only lead to legal battles and
trade wars,” Giovanni Bisignani,
chief executive of the airline trade
group, told delegates at the industry
meeting in Geneva.

He said other countries would
not accept a trading system imposed
by the EU.

Europe wants all airlines that fly
within the EU to trade pollution
allowances beginning in 2011, forc-
ing them to buy more if they want to
increase their flights. Such programs
are designed to provide industries
with financial incentives to lower





April 26th, 2008
Poop Deck Sandyport
3:00pm -7:00om

emissions of greenhouse gases.

Airlines flying to the EU would
join the program a year later — a
move that would hit U.S. airlines
on the lucrative trans-Atlantic
routes.

USS. officials have warned that
including non-European airlines in
the EU cap-and-trade program may
break international aviation and
trade law.

Scientists have raised questions
about the European program, but
for other reasons.

Most experts agree airlines are
to blame for about 2 percent of man-
made emissions of carbon dioxide, a
gas believed to contribute to global
warming. Other gases emitted by
aircraft are also thought to be a
problem, but opinions differ on their
impact.

Dispute

Converting the éffects of gases
such as water vapor and nitrogen
oxide into a carbon dioxide equiva-
lent as part of an emissions trading
system is a matter of scientific dis-
pute.

“Tt’s like comparing apples and
oranges,” said Helen Rogers, a
senior research associate at Cam-
bridge University in England who
works in the field of climate model-
ing.

The danger is that a hastily
imposed program could end up
worsening the contribution that avi-
ation makes to climate change by
encouraging the development of
more fuel-efficient aircraft that emit
other, more harmful gases, she told
The Associated Press by telephone.

David Fahey, a research physi-

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WEDNESDAY, APRIL 23, 2008, PAGE 15

BIL MBIT SB ELE TNR SV OR,
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INTERNATIONAL NEWS

































GIOVANNI BISIGNANT, Director’: °
General and CEO of the Internation- -
al Air Transport Association (IATA),
adjusts his glasses as he attends
ae Aviation and Environment Sum-
"mit in Geneva, Switzerland, Tues-
Sy April 22, 2008. Aviation chiefs
during the summit have signed a..

« declaration that pledges to address
the industry's impact-on climate: -
chanae but shuns ¢ oe targets
to reduce carbon emissions.

cist at the U.S. National Oceanic
and Atmospheric Administration,
also urged against moving too quick-
ly.

“We need the industry, the sci-
entific and policy community to
come together and frame this prob-
lem. Then we can put this into a car-
bon market,” he said.

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PAGE 16, WEDNESDAY, APRIL 23, 2008

THE TRIBUNE



Mos heel a
ee hip carrying arms

to Zimbabwe may
return to China



Tsvangirayi Mukwazhi/AP Photo

ANNA SATIYA, 84, shows a head injury and scars sustained after an attack by suspected Zanu PF supporters
in Gutu, about 150 kms south of Harare, Zimbabwe yesterday. Satiya, who was receiving medical attention,
told how the family was woken up at night and beaten for voting against President Robert Mugabe in the
March 29 elections. Zimbabwe church leaders issued a joint statement yesterday calling for international
intervention to help end the country’s election crisis, and said people are being tortured, abducted and some
murdered in a campaign against opposition supporters. f







@ By ANGUS SHAW
HARARE, Zimbabwe_.

A shipment of weapons to |,

Zimbabwe may be returned to
China, the Chinese Foreign Min-
istry said yesterday, after the trou-
bled southern African nation’s

neighbours prevented the cargo |

from being unloaded, according
to the Associated Press.

The Chinese freighter arrived
in South Africa last week, and
human rights groups and others
said they feared the mortar
grenades and bullets onboard
could be used by President
Robert Mugabe’s regime to
clamp down on its opposition.

Zimbabwean church leaders
issued a joint statement yester-
day calling for international inter-
vention, saying people were being
tortured, abducted and some
murdered in a campaign against
opposition supporters.

A South African group per-
suaded a judge to bar the
weapons from transiting through
the country to landlocked Zim-
babwe, and the An Yue Jiang
then sailed away from South
Africa. Private groups and gov-

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A WORKER sweeps the floor
of the auction room on the
opening day of the tobacco
selling season in Harare. The
floors in Harare failed to
open on schedule yesterday
due to uncertainty over pric-
ing.

ernment officials in Mozambique,
Angola and Namibia also object-
ed to the weapons, though
Namibia said the ship could refu-
elthere ifnecessary. ‘

“As far as I know, the carrier is
now considering carrying back
the cargo,” Chinese Foreign Min-
istry spokeswoshan Jiang Yu said.

Although Jiang offered no
details, the move appeared to
indicate a backdown in the face of
refusals by Zimbabwe’s neigh-
bors to allow the weapons to be
offloaded and shipped through
their territories.

The State Department said it

. had urged countries in southern

Africa — notably South Africa,
Mozambique, Angola and
Namibia — not to allow the ship
to dock or unload. -

It also said it had asked the
Chinese government to recall the
vessel and not to make further
weapons shipments to Zimbab-
we until the postelection crisis is
resolved. “Right now clearly is
not the time that we would want
to see anyone putting additional
weapons or additional material

_ into this system when the situa-

tion is so unsettled and when we
have seen real and visible
instances of abuses committed by
the security forces,” deputy
spokesman Tom Casey told
reporters.

“We’re pleased to see that a
number of countries in the region
... have decided not to let this ship
either dock or offload,” he said.

Casey added that China had
been encouraged in a message
delivered by U.S. diplomats in
Beijing “to halt this shipment”
and “to refrain from making addi-
tional shipments.”

Zimbabwe’s government has
refused to publish the results of
the presidential election held
more than three weeks ago, and‘
the opposition says that is part of
a ploy to steal the vote.

There are reports of increas-
ing violence against the opposi-
tion. China is one of Zimbabwe’s
main trade partners and allies,
and there is no international arms
embargo against Zimbabwe. But
China’s relationship with Mugabe
is often pointed to as an exam-



Tsvangirayi Mukwazhi/AP Photo

ple of its willingness to deal

with authoritarian regimes in
order to secure commodities and
markets in Africa.

Although China’s global
weapons exports are considered
tiny in dollar terms, especially
compared to the United States,
Beijing is a principle exporter of
cheap, simple small arms blamed
for fuelling violence in Sudan and
other parts of Africa.

Patrick Craven, spokesman for
the South African union congress
that had helped lead the cam-
paign against the ship, called it a
“historic victory” that he hoped
would encourage Zimbabweans
and lead to more grassroots cam-
paigns against Mugabe.

“So far the governments have
clearly been lagging behind the
people,” Craven said. “We’re
hoping now they will wake up.”

Nelson Chamisa, a spokesman
for opposition leader Morgan
Tsvangirai, said he was awaiting
more details on the report the
ship may be returning to China
without offloading the weapons.

“It would be pleasing to the
people of Zimbabwe to note that
there has been solidarity.on the

‘continent to stop the arming of

the (Mugabe) regime at the’
expense of the people,” Chamisa
said. “Instead of importing guns,
we should be importing syringes,
(AIDS medicine), books for kids.

“We should be importing food
for the people,” Chamisa said.
“We are not at war. If anything
we have to have a war against
hunger, poverty, a lack of democ-
racy, dictatorship.”

But Mugabe’s Deputy Infor-
mation Minister Bright Matonga
said his country had the right to
acquire arms from legitimate
sources.

“We are not a rebel country,”
he told The Associated Press.

Also yesterday, Zimbabwean
church leaders issued a joint state-
ment calling for international
intervention to help end the coun-
try’s election crisis, saying peo-
ple were being tortured, abducted
and some murdered in a cam-
paign against opposition sup-
porters. ©



On Friday April 44 2008, “b month old MalikoRiA. Pratt was
crowned King of LittleFeet Academy,(Faith Ave).
Not only was he qrowned King, but made history
He is the very first King of the LFA. Malik has a personality
out of this warld, always smiling.
There is never a.dull moment when he is around,
His name itself has great meaning which is King.

He js very smart and intelligent and loved by many.
Malik is the son of proud parents Ms. Mercier Bannister &
Mr. Roderick PrattUr. Again, we would like to cortgratulate °
our King on his early accomplishments and say thanks to all
that made things possible for him

Peete,























WEDNESDAY,

APRIL 23,

2008





ROYAL # FIDELITY

Money at Work

NASSAU OFFICE
(242) 356-9801

FREEPORT OFFICE
(242) 351-3010

Atlantis condotel could be
sold out ‘within 12 months’

@ By CARA BRENNEN-BETHEL
Tribune Business Reporter

tlantis’s 495-unit Reef
condotel is likely to
be completely sold-
out “within 12
months” if sales
maintain their current pace, Kerzner
International’s joint venture partner
told The Tribune yesterday, with
some 47 units sold in the first three-
and-a-half months of 2008.

Bruce Weiner, president and chief
operating officer of Turnberry Ltd,
told Tribune Business that despite
the global financial system’s credit/liq-
uidity crunch, and US real estate mar-
ket slowdown, just over 70 per cent of
the units at The Reef Residencies at
Atlantis, Paradise Island had been
sold. ©

He added that sales of the private
residences, which go back into a
rental pool when their owners are not

* Kerzner’s joint venture partner says Reef shrugs off slow 2007
second half, with 47 sales in first three-and-half-months of 08
* Over 70% of 495 units sold, as Turnberry says ‘any
news of our demise has been greatly exaggerated’

there, were progressing well, with

‘some 350 of the 495 having been sold

since Turnberry and Kerzner placed
them on the real estate market two-
and-a-half years ago.

“Thankfully, to borrow .a quote,
any news of our demise has been
greatly exaggerated,” Mr Weiner said
yesterday.

“I would say that in spite of every-
thing that is happening, given the eco-

nomic slowdown we are doing good. .

Not great, it could always be better,

Airline allianc



driven by 43.5%
fuel costs spike.



@ By NEIL HARTNELL
Tribune Business Editor

TWO Bahamian airline
companies yesterday unveiled
a “strategic alliance” they
believe will improve the indus-
try and maintain their prof-
itability, as they struggle to
cope with rising fuel costs that
have riser by 43.5 per cent in
just six-to-seven months.

Heuter Rolle, owner of Sky-
Bahamas Airlines, said the
resource-pooling arrangement

-worked out with Freeport-
based Regional Air, which will
see the two companies share
aircraft, personnel and
finances, had been driven to a
“significant” extent by spi-
ralling global oil and fuel
prices.

Mr Rolle said his company,
which according to its website
operates three daily round-
trips between Nassau and Exu-
ma, had seen its fuel costs
increase by $40,000 a month
in the seven-month period



* Strategic venture between
SkyBahamas and Regional

_ Air aims to pool aircraft,
resources to ‘maintain
profitability’

* Carrier sees fuel costs
rise by $40,000 per month,
or $10,000 per month, in
seven months, with gas
now accounting for 35%
of operational costs

between now and Septem-
ber/October 2007.

“I’m paying an average of
$10,000 more per week,” he
told Tribune Business, explain-
ing that while fuel costs had
averaged roughly $23,000 per
week in September/October
2007, they were now at $33,000
per week - an increase of 43.5

SEE page 4B

‘Agoressive’ 6-8
month Albany road
re-route goal

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40 miles per gallon



m@ By NEIL HARTNELL
Tribune Business Editor

’ THE developers behind the
$1.3 billion Albany Golf &
Beach Resort yesterday said
they had set the “aggressive
goal” of completing the south-
west Bay Street re-routing
within six to eight months, as
they prepare to “ramp up”
Phase I construction within the
next five to six weeks.

Christopher. Anand,
Albany’s managing partner,
told The Tribune that con-
struction on the road re-rout-
ing had already begun, and the
developers were now working
to ensure they met “a series of
environmental guidelines” they
have to comply with - as part
of the Environmental Man-
agement Plan (EMP) - before
“heavy duty construction
begins”.

“The road has actually start-

SEE page 2B

but good.”

He explained that to date 350 of

the units have been sold, and that
between January to Monday April
21, 2008, 47 units had been purchased,
making it a very good winter for the
Reef.

*“Tt’s been good. Of course, I can’t
say what may happen later this year,
but if we continue on the current pace
that we are on now, we should be
able to sell'the remaining 146 units
within 12 months,” Mr Weiner added.

royalfidelity.com

info@royalfidelity.com

Mr Weiner said Atlantis’s strong
brand recognition and performance,
boosted by the new properties, includ-
ing the Cove, had contributed signif-
icantly to: the improved sales perfor-
mance.

-“Most of our business was done on
the island with people visiting the
property and realising that they want-
ed to invest there,” he added.

Many Bahamian mixed-use resort -

developments have been impacted

heavily by the global credit crunch,



SHOWN (I-r) are Laurent Colli, head of private banking, Niekia Horton, chief operating officer, Christian Coquoz,
‘managing director, and Charmaine Tucker, manager of trust and corporate services

which has made it difficult for them to
obtain debt financing on the global
markets.

In addition, this and the US eco-
nomic woes have made it difficult for
potential real estate buyers - investors
who would.purchase lots, condos and
homes on these.developments - to
also access financing.’

Deprived of steady cash flow from
these real estate sales,-a number of
mixed-use resort projects have ground

--to a halt.

s Bahamian achieves private bank firsts

fm By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

“history by becoming not only
the first Bahamian, but the first
woman, to hold the position of
chief operating officer at Lom-
bard Odier Darier Hentsch’s
(LODH) Private Bank .and
Trust’s Bahamian operations.

Speaking with Tribune Busi-
ness as the first anniversary of
her appointment approaches,
Ms Horton said:her position
demonstrated how open-mind-
ed the Swiss-headquartered
bank was in not being limited
- by nationality, colour or sex
when it comes to providing

SEE page 5B

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PAGE 2B, WEDNESDAY, APRIL 23, 2008 THE TRIBUNE

Bank investors .â„¢

road re-

asked to back ™™

ed, and people are working on
it,’ Mr Anand said. “We’re
trying to get it done in six
months. It’s an aggressive goal,

but that’s what we’ve asked
| them to do, six to eight
months.”
He was speaking in response
to what construction industry







sources had told The Tribune
was concern in the struggling
sector that work on Albany

































@ By NEIL HARTNELL impacting efficiency and three-for-one stock split] had been delayed again, with
Tribune Business responsiveness. Common- would not come to share- contractors not receiving con-
Editor wealth Bank’s Board of holders, but because of the tract tenders in the time they

Directors is thus proposing way the bank’s Article is had anticipated.
COMMONWEALTH that the Articles of Associa- written, an Extraordinary Mr Anand, though, said

Bank’s shareholders willbe tion be amended to elimi- Meeting had to be called to there were no delays on

asked at its upcoming May nate the current require- approve the share split. Albany’s construction, with the

21, 2008, annual general ment for an EGM, especial- “He said that generally, a project due to “ramp up over

meeting (AGM) to approve __ ly as no shareholder would Resolution like this would the next five to six weeks” in

changes to the Articles of be disadvantaged by astock be approved by the compa- terms of mobilising contrac-

Association that would split or consolidation - the ny’s Board of Directors”. tors and their workforces.

allow the directors to proportion of their total Meanwhile, Common- © Before work on the Albany

decide whether to “split, holding in the bank remains wealth Bank shareholders marina could start, Mr Anand
subdivide or consolidate” the same. will also be asked at the said the developers had -to
the bank’s ordinary shares. T. B. Donaldson, Com- AGM to approve Articles work with the Bahamas Envi-

The move is intended to monwealth Bank’s chair- of Association amendments ronment, Science and Tech-
avoid the need for Com- man, did not return The - that will set out the frame- nology (BEST) Commission
monwealth Bank to call an Tribune’s phone calls seek- — work for how minority on complying with all environ--

Extraordinary General ing comment yesterday, but shareholders “bring mental guidelines.

Meeting (EGM) of share- had previously told this motions to the floor” of the This involved monitoring

holders whenever it wants newspaper that the Board AGM. water turbidity, checking for

to conduct a stock ‘split or was going to look at amend- The proposed amend- any signs of erosion on Ade-
consolidation; as it had to ing the Articles of Associa- ment to Article 44 stipu- - laide Beach, and identifying
do on October 17, 2007, tion on this issue. : lates that only a minority and securing specific vegeta-
when it needed shareholder . In the Proxy Statement shareholder who is the ben-' tion plots that were not to be
approval for its three-for- for the 2008 AGM, the min- _ eficial owner of at least 10 harmed during Albany’s con-
one stock split. utes of the October 2007 per cent of Commonwealth struction.
Having to hold an EGM EGM record the Common- Bank’s shares, or has the “There’s a lot of environ-
costs the bank time and wealth Bank chairman as support of at least 10 per mental work to create baseline
SMT Tit money, as well as delaying saying that “normally, a cent of the outstanding “test results to measure
any decision on such issues, consideration like this [the shares, can submit a motion against,” Mr Anand added.
notice he/she proposes to “We're also getting permitting









bring before the AGM. for all our hotel cottages to

7° ° The proposed amend- start.”
( aA t Oo ment stipulates that the The developers, he
Y notice will not be attached explained, were just waiting
A cafe : to the Proxy Statement if it - for a final foundation permit
Te appears designed to “pub- for the project’s hotel cottage
lish, advance or enforce a component, and had already
: : ‘ personal claim. orredressa -.| received “a clean bill of
personal grievance” against health” from the Antiquities,
the bank, its directors and Monuments and:Museums

reeport and need somewhere to live? officers. Corporation.

to save money and not pay tourist ~ It will also.not be pub- June was the month when it
We have rs | Vacancy for an lished if it “does not relate would feel “more like” con-
: ¢ in a significant way” to struction work on Albany had
: ie on de mo pe rienced S) ushi e nl Commonwealth Bank’s begun in earnest, Mr Anand
| Rent a tastefully furnished apartment in a nice residenti business affairs. ‘| « said, adding: “That’s when the

Fsrea for a week or more at a fraction or what it w marina, the hotel cottages, the
golf course will be going; all
the long lead items.”
i iY 5 | ‘|e aah The 565-acre project was
likely to require over 1,000
construction workers during
F the first phase work, Mr
Felt Wn QUES Anand said with this number
behind the MENS set to increase to a peak of at
read Insight ‘least 2,500 when phase two
on Mondays ' work began as phase one was
finishing.

iia craters : Please leave resumes at Indigo on Cable Beach

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THE TRIBUNE

WEDNESDAY, APRIL 23, 2008, PAGE 3B





amily Guardian ‘very
optimistic’ on its fund

@ By NEIL HARTNELL
Tribune Business Editor

FAMILY Guardian, the
BISX-listed life and health
insurer, was yesterday said to
be “very optimistic” about
investor demand for its three
newly-launched sub-funds, its
president telling The Tribune
that the way the product had
been structured “differentiat-
ed” it from the competition.

Patricia Hermanns, who is
also the company’s chief exec-
utive, said Family Guardian
had already received “expres-
sions of interest” in FG Finan-
cial Fund Ltd, the sub-funds’
investment fund parent, from
both Bahamian institutional
and retail investors.

The three sub-funds - the
FG Financial Preferred
Income Fund, the FG Finan-
cial Diversified Fund, and the
FG Financial Growth Fund -
were launched to the Bahami-
an capital markets during the
middle of this month.

Ms Hermanns told The Tri-
bune: “We’re just finalising the
structure of the funds. We have
had a couple of expressions of
interest, and people have
expressed interest in buying
into the funds from the insti-
tutional as well as the individ-
ual side.”

She added: “We’re very opti-
mistic in terms of the market
response. The proof of the
pudding will be in terms of the
funds deposited with the funds,
but the response to date has
given us a fair amount of con-
fidence.”

The FG Financial Fund Ltd
has been structured.as a segre-
gated accounts company,
which means that the liabili-
ties from one of the three sub-
funds will not impact any of
the other two. In effect, the
three sub-funds’ investments
are all held separately of one

another.

By structuring its investment
fund in such a way, Family
Guardian, whose parent is
BISX-listed FamGuard Cor-
poration, will be able to match
clients’ investment profiles and
risk appetites to particular
investment strategies via its
sub-funds.

The Financial Preferred
Income Fund wiil invest pri-
marily in fixed-income instru-
ments, such as government
bonds, certificates of deposit
and mortgages; the FG Finan-
cial Diversified Fund will
invest in a mix of equities,
bonds and other fixed income
securities; and the FG Finan-
cial Growth Fund will invest
up to 75 per cent of its assets in
Bahamian equities.

The minimum initial sub-
scription is $500, a nice entry
point for Bahamian retail
investors, and this can be
spread across the three sub-
funds if the client chooses. Sub-
sequent minimum subscrip-
tions will be for $100.

Ms Hermanns said Family
Guardian would be able to
capitalise on its strong existing
client base, especially in insur-
ance and financial services, to
generate capital for the invest-
ment fund.

She explained that Family
Guardian’s existing pension
fund had been used already to
help establish the fund with
seed capital.

“We already have a sub-
stantial base in place for the
fund, and are seeking to attract
institutional and individual
investors to take control of
their financial futures outside
of their employers’ pension
fund,” Ms Hermanns said.

“We feel we have a client
base, a loyal client base, as a
starting point for investing in
our fund. We feel we have dis-
tinguished ourselves from our

t

competition. The structure of
our funds is a lot different from
the competition.

“We feel we can bring a high
level of quality service, and feel
the fund is differentiated from
what is out there. Starting off
with three separate funds, each
with their own siructure, is dif-
ferent from what is out there.”

Acknowledging that the dif-
ficult Bahamian economic cli-
mate might impact investment
decisions, Ms Hermanns said
it was unlikely to “have a seri-
ous detrimental impact on
what we are trying to do”.

This was because it became
even more important for
Bahamians to “save and pre-
pare for their future” during
an economic downturn, Ms
Hermanns said, as doing so
provided them with “stabili-
ty”.
FG Financial Fund Ltd had
been designed as a wealth
accumulation product, she
explained, intending to meet
the changing demographics of
an ageing Bahamian popula-
tion by preparing them for
retirement.

These changing demograph-

ics, she said, required Bahami-.

an life and health insurers to
develop new products to
ensure they remained relevant
to their clients, going outside
their traditional core business-
es.



JOB OPPOTUNITY

Dean’s Shipping Company has an immedi-
ate opening for an experienced Maintenance
Mechanic.

The individual should have at least 10 years
expereince as a diesel mechanic with welding
experience. Successful candidate must be self
motivated, possess a strong work ethic, experi-
ence with diesel engines, tractor head, and trailer
repairs.

Please respond to:

Deans Shipping Company
P.O. Box EE-17318
Telephone 356-6672, 356-6673







Sales Supervisor

Needed

- Large established Wholesale Company seeks mature,
experienced sales supervisor.

aN Usa elem tale) colU(o] nmol icc Uimenclalcclo MUO MsI= MUNeLVlcreb

- Should be familiar with the food and pharmaceutical wholesale
and retail distribution trade.

- Responsible for the overseeing of sales persons, merchandisers
and the proper execution of in-store merchandising and

promotions.

- Will assist sales manager with daily eee Oo) MST csaee Lae

MRM SING Staff.

- Must be able to recognize sales, competitors’ and market trends
and report to management proposals to counteract negative
trends and improve sales.

- Must keep detailed records of all store visits, problems found,
recommended changes, instructions given, lly follow up

success of changes.

Salary package commensurate with experience
but above industry average.

Must have your own transportation Pte will get gas
allowance.

Send resumes to:

employee.opp@gmail.com





eee st

d/o
OFF

Governments across the
world were coming under
increasing pressure to meet the
retirement needs of ageing
populations, Ms Hermanns
said, and Family Guardian was
attempting to meet market
demands from people increas-
ingly seeking to take responsi-
bility for their own futures.

FG Financial Fund Ltd’s
launch has also coincided with.
that for two Family Guardian
subsidiaries, FG Financial,
which will provide pensions
and investments services, and
FG Capital Markets, which will
deliver brokerage and corpo-
rate advisory services.

Selected

Collins & Pe Tey
Tel: 322-7707

JOB OPPORTUNITY

- Applicants must have a minimum of twelve (12) years experience in Japanese cooking espe-
cially sushi and sashimi food preparation, teppaniaki and tempura techniques knowledge. The
candidate must possess a master’s diploma in Japanese cooking with a minimum six (6) years in
a high quality Japanese restaurant. This person must be willing to teach knowledge to our young
Bahamian chefs.






















1-E ti Cl fi Fi Di e

Applicants must have eight (8) years minimum experience in Executive Sous Chef position

and at least two (2) years in Experience Chef position. Applicant must be fluent in Spanish and
strong knowledge in Mexican and modern Spanish cuisine, traditional French base is a must:
This person should as well be able to manage large functions and should be able to teach his fel-
low staffs in the art of “Tapas”, ice carving and vacuum techniques.



The applicant must have Four Season or Ritz Carlton experience.




1- Chef Tournant
Applicants must be relief cooks and know all departments of kitchen. Applicants will be re-
quired to work in various kitchen of the property. This is a seasonal position with a minimum of
eight (8) years experience in a high quality hotel kitchen is necessary. European experience is
essential.



All interested persons are asked to forward resumes to The Human Resource Director, P.O. Box
N-7776, Nassau, Bahamas.



VACANCY FOR THE POSITION OF:
MANAGER, CREDIT RISK

Core responsibilities:

Acts as Relationship Manager to high risk clientele by
liaising with clients to determine needs and resolve
issues, providing answers and communication wherever
necessary. |

Performs maintenance and records management on
existing portfolios and advise Credit Risk Consultant -
of any issues.

Performs constant follow up on high risk/impaired
accounts and institutes proper procedures regarding the
collection of same.

Assess financial position of high risk/impaired loans..
Prepares credit proposals by conducting comprehensive
financial and non-financial analysis.

Provides coaching, guidance, and direction to line
lenders in the assessment and structuring of credit
facilities.

Knowledge, Skills and Abilities:

Bachelor’s Degree and five or more years of credit
experience.

Strong accounting and financial analysis skills.
Strong negotiation skills.

Detailed knowledge of credit and collections.

Core knowledge of legal practices and documentation.

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 May 9, 2008 to:

The Tribune
P.O. Box N-3207
DA #62096
Nassau, Bahamas





Airline alliance driven by
43.5% fuel costs spike

FROM page 1B

per cent.

With 52 weeks in the year, at
current fuel prices, SkyBa-
hamas is paying about $520,000

ACCOMMODATIONS WANTED

Fully farnished ROOMS, APARTMENTS,
& Houses wanted for Short term stays
in the Bahamas Home Away From Home
program.

Contact Ms. Allen @ Stop-N-Shop Online
394-4949 or e-mail :

Bahamas. HomeAwayFromHome@gmail.com





PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL .



more per year for its fuel
alone.

The total annual fuel bill,
assuming the $33,000 per week
price remains constant, would
equal $1.716 million, and Mr

Rolle told Tribune Business.

that aviation gas currently
accounts for 35 per cent of his
total operating costs.

With inter-island Bahamian
airline operators unable to

raise ticket prices, or add fuel .

surcharges, at the same time
or rate, revenues have not kept
pace with costs, resulting in
margin squeezes and a reduc-
tion in per passenger yields.
While the two companies’
alliance might help reduce
their fuel costs because they



will be able to buy in greater
bulk, and obtain better dis-
counts from suppliers, Mr
Rolle said SkyBahamas had
already been forced to raise its
ticket prices.

From March.1, 2008, one-
way prices had increased by
$5, and the Exuma round-trip
by $10.

Regional

Through the tie-up with
Regional Air and its owner,
Lynden Steven Mitchell, which
is being billed as a “strategic
alliance” rather than a full
scale merger, SkyBahamas is
hoping to enhance efficiency
and profitability.

Between the two companies,
they have a total of about 80
employees and generate
between $8-$10 million per
annum in revenues, according
to Mr Rolle, and cost savings

will come “from more strategic
utilisation of equipment”.
This, he explained, would
involve better use of the two
companies’ combined nine-
strong fleet, which features air-
craft with capacities ranging
from nine seats to the 33-pas-
senger SAAB 340 turboprops.
- Through the enlarged com-
bined fleet, Mr Rolle explained

that the two companies would

be “able to place the larger
planes on the more profitable
routes, and the smaller planes
on the less profitable routes,
keeping everything profitable”.

In turn, the synergies
between the two companies’
route schedules is obvious.
SkyBahamas provides thrice-
daily service between Nassau
and Eleuthera, plus charter
services to Bimini, Stella Maris
in Long Island and Cap Hatien
in Haiti.

The Public is hereby advised that |, CATHERINA CONYERS of the
island of New Providence, The Bahamas, intend to change my
son’s name from CORY LOFTON WILLIS FARQUHARSON to CORY
LOFTON WILLIS CONYERS. 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-792, Nassau, Bahamas no later than
thirty (30) days after the date of the publication of this notice.







NOTICE

NOTICE is hereby given that PAULINE BETHEL of
PALMETTO POINT, ELEUTHERA, 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 16TH day of
APRIL 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

TAYLOR _
INDUSTRIES LTD.

111 Shirley Street

ee
Sart
Thursday, April 24

Friday, April 25
Saturday, April 26

We regret any inconvenience this
will cause to our customers



Abaco Markets

Bahamas Property Fund
Bank of Bahamas
Benchmark

Bahamas Waste

Fidelity Bank

Cable Bahamas

Colina Holdings
Commonwealth Bank (S1)
Consolidated Water BDRs
Doctor’s Hospital
Famguard

Finco

FirstCaribbean

Focol (S)

Freeport Concrete

ICD Utilities

J. S. Johnson

Bahamas Supermarkets
Caribbean Crossings (Pref)
_.RND Holdi

““ABDAB
Bahamas Supermarkets
RND Holdings

Colina Bond Fund
Colina MSI Preferred Fund |
Colina Money Market Fund
Fidelity Bahamas G & | Fund
Fidelity Prime Income Fund
CFAL Global Bond Fund
100.0000 CFAL Global Equity Fund
1.0000 CFAL High Grade Bond Fund
soun?:8346 Fidelity International Investment Fund

1.308126°"**
2.996573"***
1.387505"**
3.7011°***
12.1010°*
100.00**
100.00**
1.00°*
9.6346"

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 -

52wk-Hi - Highest closing price in last 52 weeks

52wk-Low - Lowest closing price in last 52 weeks

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

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

Change - Change in closing price from day to day

Daily Vol. - Number of total shares traded today

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

P/E - Closing price divided by the last 12 month earnings

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

(S1) - 3-for-1 Stock Split: Effective Date 7/11/2007
TO TRADE CALL: CRAL 242-502-7010 | RIDELIF 42.956-77

YIELD - last 12 month dividends divided by closing price

Bid $ - Buying price of Colina and Fidelity

Ask $ - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol. - Trading volume of the prior week

EPS $ - A company’s reported earnings per share for the last 12 mths

Regional Air, though, pro-

NOTICE

NOTICE is hereby given that LARKLAND CAMPBELL
of CLARENDON, JAMAICA 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 16th day of
April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.




NOTICE is hereby given that ELVALINA E. WILLIAMS
of EAST STREET SOUTH, P.O. Box N-8020, 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 16th day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.













NOTICE .

NOTICE is hereby auen that KELLY ROSTAD of
BANKS ROAD, ECKERS HOUSE, P.O. BOX
195, ELEUTHERA, 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 een days from the 16TH day of

APRIL 2008 to the Minister responsible for Nationality

and Citizenship, P.O.Box. N- 7147, Nassau, Bahamas.





NOTICE

ANDERSON UNIVERSAL LIMITED, _
AN INTERNATIONAL BUSINESS COMPANY

Notice is hereby given that the voluntary dissolution of the above
company commenced on the 21st day of April,2008. Articles of Dis-
solution have been duly registered by the Registrar General’s office, P.O.
Box N532, 50 Shirley Street, Nassau Bahainas. The Liquidator is A.J.K.
Corporate. Services (Bahamas) Limited, whose address is Suite 11,

Bayparl Building, 18 Parliament Street, P. O. Box. AP59205/3352, |}

Nassau, The Bahamas.



FG CAPITAL

BROKERAGE & ADVISORY SERVICES

Sie

- 29 February 2008

- 31 December 2007
*** 14 April 2008
**** 34 March 2008

NAV - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100



vides three daily round-trips
between Freeport and the two
Abaco destinations of Marsh
Harbour and Treasure Cay,
plus weekend services from
Freeport to San Andros, Chub
Cay; Mangrove Cay, North
Eleuthera and Governor’s
Harbour.

Therefore, while Regional
Air covers the northern
Bahamas, Eleuthera and
Andros, SkyBahamas has the
central Bahamas through Exu-
ma.

Consolidation is nothing new
in the global airline industry,
which over the past five-six
years has seen a number of air-
lines go out of business due to
the squeeze from rising fuel
costs, increased competition
and declining passenger num-
bers.

Response

In response, the major inter-
national carriers have sought

' to establish alliances and, in

some cases, merge, the latest
such deal being the attempted
consolidation featuring Delta
Airlines and Northwest.

Therefore, it seems that
global industry trends are mak-
ing their presence felt in the
Bahamas, although Mr Rolle
said he was unsure of other
inter-island private carriers and

charter operators would fol- |

THE TRIBUNE

“We were bold enough to
do it. I don’t know if anyone
else will. It makes sense to
both of us, which is why we’re
doing it,” he added.

In a speech to the Kiwanis
Club of Fort Montague last
night, FNM Senator Anthony
Musgrove said successive gov-
ernments had undermined pri-
vate airlines such as SkyBa-
hamas by subsidising Bahama-
sair’s competition with them.

Noting that Bahamasair’s
Exuma round-trip air fare

- stood at $190, the same as Sky-

Bahamas and only $20 more
than the $170 charged by
Western Air, Mr Musgrove
said: “While we should
applaud these two Bahamian
companies and the others who
have invested, in some
instances, millions of dollars in
pursuing the Bahamian dream,
we should also note that this
industry is being undermined
with the assistance of the visi-
ble hand of government, with
the possibility of creating bad
blood between young and
promising businesses.

“In fact, the chief executive
of SkyBahamas has publicly
voiced his concern that Sky’s
financial survival is. daily under
threat due to the increase in
competition, coupled with the
increasing costs of fuel, which
closed on Monday, April 21,
2008, at a whopping $117.48

low his lead. per barrel.”

NOTICE

NOTICE is hereby given that RONY DUROSEAU of
MARSH HARBOUR, ABACO, 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 23rd 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 ELYSEE ARTY of #84

WASHINGTON STREET, NASSAU, BAHAMAS is

applying to the Minister responsible for Nationality and
- Citizenship, for registration/naturalization as a citizen |
of The Bahamas, and that any person who knows. any
reason why registration/ naturalization should not be
granted, should send a written and signed statement
of the facts within twenty-eight days from the 23rd day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.










NOTICE

IN THE ESTATE OF FREDERICK
GEORGE HERMAN YOUNG, Late of
The Cottage Estate, Little Exuma,
Bahamas.

NOTICE is hereby given that all persons having
any claim or demand against the above Estate
are required to send the same duly certified in
writing to the undersigned before the Closing

Date after which the Trustee will proceed to

distribute the assets having regard only to the

claims of which he shall then have had notice.

Beneficiaries are to forward by fax or email the

following information:

1) Name of beneficiary.

2) The beneficiary’s Fractional Share.

3) The amount of Legal Expenses incurred in
obtaining Order For Sale.

4) Where the beneficiary is not a party named in
the Second Schedule of the 1967 Settlement, a
probate document (resealed if foreign) and
photocopy of passport.

5) Payment instructions:

The Trustee reserves the right to reject any claim
made after the 9" June, 2008 Closing Date.

The Trustee of The Cottage Estate,
Little Exuma

c/o JOSEPH C. LEDEE

Chambers

Suite No. 6, Grosvenor Close
Shirley Street

P. O. Box N-8887

Nassau, Bahamas.

Telephone/Fax No. 1-242-325-3758
Email: j.ledee@yahoo.com





THE IRIBUINE

inancial

services law

changes under review

m@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

FOLLOWING an intense
consultation period, industry-
compiled recommendations for
amendments to the Banks and
Trust Companies (Regula-
tions) Act are now at the
Attorney General’s Office for
review, before going to Cabi-
net and, ultimately, Parliament.

After industry input during
the consulation process, which
ended in January 2008, two

Bahamian achieves private bank firsts

FROM page 1B

opportunities for its staff.

“T think.my appointment
does not necessarily make a
statement, because other
women have also held high
positions. But it serves as con-
firmation of what other
Bahamians in high positions
have achieved before me. It
shows that if you give a
Bahamian an opportunity, we
have the skills to hold the posi-
tion,” Mrs Horton said.

She acknowledged that in
many instances, foreign-head-
quartered companies preferred
to hire someone from their
own country, usually simply
because they knew and were
more comfortable with that
‘person. It did not mean that a
Bahamian would be unable to
perform those duties.

Mrs Horton added that in
contrast to what might have

reccomendendations for fur-
ther amendments were made
in regard to the temporary
Business Operations regula-

tions.

These refer to the laws
under which a foreign bank
and trust company can estab-
lish operations on a temporary

basis in the Bahamas, in the’

event of a natural disaster or
other serious event in their
home country disrupting their
business operations.

It was recommended that
the definition for the relevant
jurisdiction include countries

happened in the past, many
more Bahamians now the edu-
cational and professional qual-
ifications - and experience -
that makes them qualified to
perform top executive tasks.

“As the first Bahamian to
hold this post there is pressure
that I put on myself, because I
realise that this is an opportu-
nity to create a path for others,
so I feel that burden and I
don’t want.to mess that up
because by my appointment
they have shown great faith in
me,” she said.

that lie within the hurricane
belt, as some of these nations
may not have been previously
been included.

Amendment

Further, it was recommend-
ed that the amendment not
apply to money transmission
service providers, only foreign
banks.

After consulation with the
Bahamas Institute of Charted
Accountants (BICA) and
Bahamas Association of Com-
pliance Officers (BACO), rec-

Mrs Horton, who graduated
from Kingsway Academy,
received her Bachelor’s
Degree from St Augustine
College in North Carolina, and
her MBA from the University
of Miami.

She first started at Lombard
in May 2004 as a financial
accountant, and then became
head of finance until 2007,
when she. accepted her current
post.

Mrs Horton is married with
two children, and said that as a
professional, mother and wife,

Ran scl Nae



ee ATRL

‘COMMONWEALTH OF THE BAHAMAS...
IN THE SUPREME COURT
Common Law and Equity Division .

2007
CLE/equ/00648

ommendations pertaining to
the rights and duties of exter-
nal auditors were also submit-
ted to the Attorney General’s
office. —

Karen Rolle, of BACO,
outlined the proposed legisla-
tive recommendations during a

tral Bank of the Bahamas.
Also speaking.at the Forum

on behalf of the Central Bank,.

Claude Haylock outlined the
procedure for the bank’s onsite
inspections.

He explained that the Cen-
tral Bank and the Securities

Commission will, in some cas-
es, perform joint on-site
inspections as a convenience.

While the inspectors would
in most cases submit their find-
ings together at one time, the
results would be the separate
findings for the two regulators.

half-day forum on Money
Transfer Businesses and a
Risk-based approach to Know
Your Customer (K YC) verifi-
cation and on-site examina-
tions. The half-day seminar
was held at the British Colonial
Hilton yesterday, and co-spon-
sored by BACO and the Cen-

and said that while she has had
to give up family time for her
career, it was important to
have a Strong, supportive fam-
ily base.

THE WESTIN

GRAND BAHAMA ISLAND
OUR LUCAYA

Resort

EXCELLENT CAREER OPPORTU

Director of Engineering

Candidate will be responsible for leading a 70-member
team and the overall management of and maintenance of
the entire’hotel. Should be highly skilled in all aspects of
engineering, inclusive of mechanical, electrical, HVAC
systems and related equipment in accordance with energy
conservation and preventative programs.

A minimum of seven to ten years management experience
in a major hotel facility within the engineering field. A
Bachelors degree in Engineering. Technological proficiency

Director of Golf

“capacity, exemplary customer.and human resources skills,

SWAN ae

ETM Le eRe Tele a iear
professional person. Must be computer

literate and have good customer relations.

Please fax resume to: 394-3885







iS,
¢
%
ae”.

‘Sheraton

The qualified applicant should be certified from a recognized
PGA program and must be able to demonstrate a high level of
competence in playing the game. The position involves working
with a team of dedicated teaching professionals within a golf
school and the daily management of two [8-holes golf courses.

A minimum of ten years golf experience in a managerial

proven experience in cost and revenue management,
forecasting and training.

IN THE MATTER OF all that piece parcel or lot of land situate in the Eastern
District of the Island of New Providence one of the Islands of the Commonwealth
of The Bahamas and being Lots Number Eighteen (18) and Number Twenty
(20) of a Subdivision called and known as Perry Subdivision and also known.
as Redland Acres Subdivision situate on the Southern Side of Soldier Road in
aforesaid Island of New Providence one of the Islands of the Commonwealth

of The Bahamas.

in computer programs, Excel and Microsoft word.

Asian Sous Chef Executive Sous Chef

This successful candidate will assist the executive Successful candidate will support and assist the executive
chef and oversee the day-to-day culinary chef by overseeing the day-to-day culinary and banquet
operations of the hotel’s “fine dining” room, train operations and will train and supervise staff and monitor
AND and supervise staff and monitor food quality. food quality.

Position requires creativity in culinary, budgetary

analysis capabilities. Knowledge in writing menus, sanitation
standards and applicable health codes. Minimum of

3 years experience as an executive sous chef in similar

size operation with multiple food outlets in excess of

75,000 square ft. Culinary or apprenticeship program
preferred.

Sales Manager

This aggressive, result oriented candidate will be responsible
for the soliciting of group business that will enable the hotel
to meet and/or exceed revenue goals in room and food and
beverage and will be required to conduct property site
inspections.

IN THE MATTER OF The Quieting Titles Act, 1959 A minimum of two years experience as an Asian
Chef de cuisine in a resort or hotel with multiple food
outlets and 500+ rooms. Thorough knowledge in Thai,
Chinese, Japanese and Korean cuisines. Bachelors

or culinary degree from an accredited institution

preferred.

AND



IN THE MATTER OF The Petition of TERRY DELANCEY

Assistant Controller

Will lead, direct and manage the accounting
Department and produce accurate, efficient and
relevant operational information for the Resort.
perform regulatory audits, formulation, compilation
and presentation of forecasts, budgets, financial
statements and reports.

TERRY DELANCEY, the Petitioner claims to be the owner in fee simple
possession of the pieces parcels or lots of land hereinbefore described and has made
application to the Supreme Court of the Commonwealth of The Bahamas under
Section 3 of the Quieting Titles Act to have the title to the said pieces parcels or
lots of land investigated and the nature and extent thereof determined and declared
in a Certificate of Title to be granted by the Court in accordance with the provisions
of the Act.

Basic computational and budgetary analysis capabilities
required. Thorough working knowledge in Excel, Delphi
and Microsoft word. Extensive knowledge of sates and hotel
and competitive market. Bachelor’s degree preferred. At
least 3 years experience in hotel sales preferred.

A minimum of 5 years experience in accounting,
finance or related field with at least 3 years

experience in the management and administration of
an operational or accounting department. Proficient in
Excel, Word and Delphi. Bachelor’s Degree preferred.

Pastry Chef

Candidate will manage and coordinate pastry
production of a volume food operation with a minimum
of 8 restaurant outlets and banquet operation in excess
of 90,000 square feet indoor/outdoor with emphasis on
plated and moder buffet set up techniques.

Copies of a diagram or plan showing the position boundaries and shape marks
and dimensions of the said pieces parcels and lots of land may be inspected during
normal working hours at the following places:

(a) The Registry of the Supreme Court, Ansbacher House, East Street in the
City of Nassau, New Providence, The Bahamas.

(b) The Chambers of Davis & Co., British Colonial Hilton, Centre of Commerce,
4th Floor Suite 400, One Bay Street, Nassau, The Bahamas, Attorneys for
the Petitioner.

NOTICE is hereby given that any person or persons having a right of Dower or
an adverse claim not recognized in the Petition shall within thirty (30) days after
the appearance of the Notice herein file in the Registry of The Supreme Court in
the City of Nassau aforesaid and serve on the Petitioners or the undersigned a
say of his claim in the prescribed form, verified by an Affidavit to be filed
therewith.

Extensive knowledge and experience in sugar and
chocolate work, pastillage showpieces and must

be capable of preparing dessert, plated and buffet

presentations. Culinary degree from an accredited

Failure of any such person to file and serve a statement of claim within thirty (30) Institution preferred.
days herein will operate as a bar to such claim.

We offer exceptional pay and benefits.
Qualified applicants should submit their resumes in writing no later than May 15, 2008 to:
ourlucayajobs@starwoodhotels.com
The Westin and Sheraton Grand Bahama Island Our Lucaya Resort
Attn: Human Resources
P.O. Box F-42500
Freeport, Grand Bahama

Dated this 3â„¢@ day of April A.D., 2008

DAVIS & CO.
Chambers
4) Floor, Suite 400
British Colonial Hilton
Centre of Commerce
One Bay Street
Nassau, The Bahamas

















PAGE 6B, WEDNESDAY, APRIL 23, 2008

@ Chartered Accountants g8 Phone. 1242)
One Montague Place Fan
Third Floor Ww ey conn

«Fast Bay Strovt
BO. Box N-5231
Nassau, Bahamas

=i] FRNST & YOUNG

INDEPENDENT AUDITORS’ REPORT TO THE SHAREHOLDER OF
ANSBACHER (BAHAMAS) LIMITED

We have audited the accompanying consolidated balance sheet of Ansbacher (Bahamas) Limited and its subsidiaries (the
Bank) and a summary of significant accounting policies and other explanatory notes.

Management’s Responsibility for the Balance Sheet

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 control
relevant to the preparation and fair presentation of a balance sheet that ts 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. 2 .

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 tu obtain reasonable assurance whether the financial statements are free from material 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 31 December, 2007 in accordance with Intemational Financial Reporting Standards.

Grunt

March 25, 2008
A member firm of Frnst & Young Global Limited
Ansbacher (Bahamas) Limited

Consolidated balance sheet
At 31 December 2007







2007 2006
Notes sooo. $000

Assets .
Cash and balances with central bank $ 131 $ 43
Due from banks 3 268,086 : 259,084
Loans and advances to customers 4 87,015 74,361
Financial investment - available-for-sale 5 , 5 2,004
Property and equipment 6 845 916
Intangible assets 7 16 14
Other assets” Big 2,952 2 2. 2,358,
Total assets $ 359,050 s 338,778
Liabilities and Shareholder’s Equity
Liabilities 7
Customer deposits 9 $ 337,712 $ 319,192
Other liabilities, . 10 3,812 4,064
Subordinated liabilities ‘ 11 _. 3,632, , 3,832.
Total liabilities \ 345,156
Shareholder’s equity
Called up share capital 12 3,000 : 3,000
Share premium account i : 13 oe ce, 1,000 |. 51000
Statutory loan loss reserve : ia ania “810 oe 230.
Retained earings : Soe cote, 7,167
Total shareholder’s equity 13,894 11,890
Total liabilities and shareholder’s equity : $ 359,050 | $ 338,778

ES

Contingent Liabilities and Commitments (note 14)

Approved By The Board



Lott dle

Director





Director

Ansbacher (Bahamas) Limited
Notes to the consolidated balance sheet
31 December 2007

1. Corporate information

Ansbacher (Bahamas) Limited and its subsidiaries (the Bank) are incorporated under the !aws of the Commonwealth of
the Bahamas. The Bank is licensed under the Banks & Trust Companies Regulation Ac: Chapter 287, 2000 to carry on
banking and trust business. The Bank’s principal activities comprise: private anc sbecialist banking; wealth protection
and management; and fiduciary services. The registered office of the Bank is low..: - «* Ansbacher House, Bank Lane,
P. 0. Box N-7768, Nassau, Bahamas,

The consolidated balance.sheet of the Bank as of December 31, 2007 was authorise, ‘ur issue by the board of the
directors on March 25, 2008. .

The Bank’s ultimate holding company is Qatar. National Bank SAQ, which is incorpo:.:.~i nm Qatar. The immediate
holding company is Ansbacher Overseas Group Limited (the Parent), a company incorporated in Guern. ., 5
smallest higher group in which the consolidated balance sheet of the Bank is consolidated is headed by QNB
Intemational Holdings Limited sarl, a company incorporated in Luxembourg.



The principal accounting policies adopted by the Bank are set out in note 2.

2. Summary of Significant Accounting Policies

Statement of compliance
The consolidated balance sheet has been prepared in accordance with international Financial Reporting Standards
(IFRS). : ;

Basis of preparation Fs

The balance sheet has been prepared under the historical cost convention as modified by the inclusion of certain
financial instruments at fair valuation. The balance sheet is presented in US Dollars, which is the Bank’s functional
currency, and all values are rounded to the nearest thousand dollars ($000) except when otherwise indicated.

Basis of consotidation

The consolidated balance sheet includes. the balance sheets of the Bank and-its subsidiaries. Subsidiaries are’
consolidated from the date of their ecquisition, being the date on which the Sank obtains control, and continue to be
consolidated until the date that such control ceases. Control Comprises the power to govern the financiat and operating
policies of the investee so as to obtain benefit from its activities and is achieved through direct or indirect ownership
of voting rights. The balance: sheets of subsidiaries are prepared for the same reporting year as the Bank, using
consistent accounting policies.

All intra-group balances are eliminated in full.

Listed below are the names of the wholly-owned subsidiary undertakings of the Bank at 31 December 2007.

Country of
incorporation/continuation

Principal.activities

Ark Limited : Bahamas
Baird Limited British Virgin Islands / Bahamas
Bitmore Limited Bahamas
Boyne Limited British Virgin Islands / Bahamas
Chester Asset Holdings Bntish Virgin Islands / Bahamas
Dunmore Properties Limited Bntish Virgin Islands / Bahamas

Trustee and nominee services
Nominee services

Trustee and nominee services
Nominee services

Custodian services

Custodian services

Significant accounting judgements and estimates

in the process of applying the Banr's accounting policies, management has used its judgements and made estimates in
determining the amounts recognised in the balance sheet. The most significant use of judgements and estimates are as
follows:

Fair value of financial instruments

Where the fair values of financial asset: and liabilities recorded «ix the balance sheet cannot be derived from active
markets, they are determined usirg a vanety of calculation techniques that inciude the use of mathematical models.
The input to these models is taken from obs27-able market: where possible. hut where this is not feasible, a degree of

judgement is required in establishing fair values .
Impairment losses cn loans and advances °

The Bank reviews its problem loans and advar impairment shouid he secorced. In pariicuiar, -ucpement 4, manageren is required in the estimation of the amount
and timing of future cash flows when determinino the tove! cf a.cwance required. Such estimates are based on
assuriptions aur, s umber of facto.y and actue! results may differ, -esulting in future changes to the al‘owance.

50? 6000
502 6090



THE TRIBUNE

Impairment of equity investments
The Bank treats available-for-sale investments as impaired when there has been a significant or prolonged decline in
the fair value below its cost or where other objective evidence of impairment exists. The determination of what is

‘a1gnificant’ or ‘prolonged’ requires judgement.

Foreign currencies
-tonetary assets and liabilities denominated in foreign currencies are translated at the functional currency rate of

exchange ruling at the balance sheet date. Non-nonetary items that are measured in terms of historical cost in a
foreign currency are translated using the exchange rate at the date of the initial transaction.

Financial Assets

Financial assets in the scope of IAS 39 are classified as financial assets at fair value through profit or loss; loans and
receivables; held to maturity investments; or as available-for-sale financial assets, as appropriate. The Bank
determines the classification of its financial assets at initial recognition and re-evaluates this designation at each
financial year end. All financial investments are measured initially at their fair value, being the transaction price plus,
in the case of financial assets not at fair value through profit or toss, directly attributable transaction costs.

All regular way purchases and sales of financial assets are recognised on the trade date, being the date that the Bank
commits to purchase or sell the asset. Regular way transactions require delivery of assets within the timeframe
generally established by regulation or convention in the marret. place. The subsequent measurement of financial
assets depends on their classification, as follows: ”

Financial assets at fair value through profit cr loss

Financial assets classified as at fair value through profit or loss on initial recognition on inception are included
in this category when certain critena are met. Financial assets classified. as at fair value through profit and
loss are carried in. the balance sheet at fair vaive with gains or losses on financial assets at fair value through

profit or loss being recognised in the current period.

Loans and advances and due from banks

Loans and advances and due from banks are non-derivative financial assets with fixed or determinable
payments that are not quoted in an active market, do not qualify as trading assets and have not been
designated as either at fair value through profit and loss or available-for-sale. After initial measurement, such
assets are subsequently measured at amortised cost using the effective interest method, less allowance for
impairment, if the time value of money is significant. The Bank holds collateral in the form of cash; securities
or real property on each of the outstanding amounts in accordance with its internal policies.

Available-for-sale financial investment ' . es 7
Available-for-sale financial investments are those which are designated as such or do not qualify to be

Classified as at fair value through profit and loss, loan and advances or held-to-maturity. After initial
recognition available-for sale financial assets are measured at fair value with unrealized gains or losses being
recognised as a separate component of equity until the investment is disposed of, derecognised or until the
investment is determined to be impaired at which time the cumulative gain or loss previously reported in
equity is recognized in the period of derecognition.

Determination of Fair values

The fair value of quoted investments is determined by reference to bid prices at the close of business on the
balance sheet date. Where there is no active market, fair value is determined using valuation techniques. These
include using recent arm’s length market transactions; reference to the current market value of another
instrument which is substantially the same; discounted cash flow analysis and pricing models.

Impairment of financial assets

The Bank assesses at each balance sheet date whether a financial asset or group of financial assets is impaired. A
financial asset or a group of financial assets is deemed to be impaired if, and only if, there is objective evidence of
impairment as a result of one or more events that has occurred after the initial recognition of the asset (an incurred
‘loss event’) and that loss event (or events) has an impact on the estimated future cash flows of the financial assets or
group of financial assets that can be reliably estimated.

Loans and advances and due from banks ;

If there is objective evidence that an impairment loss on loans and due from customers has been incurred, the
amount of the loss is measured as the difference between the asset’s carrying amount and the present value of
estimated future cash flows (excluding future credit losses that have not been incurred) discounted at. the
financial asset’s original effective interest rate (i.e. the effective interest rate computed at initial recognition).
Interest on loans and advances is‘accrued until such time as reasonable doubt exists about its collectability;
until all or part of the loan is provided for. If, in a subsequent period, the amount of the impairment loss
decreases and the decrease can be related objectively to an event occurring after the impairment was
recognised, the previously recognised impairment loss is reversed.

Available-for-sale financial investments ‘
If an available-for-sale financial investment, which is an equity investment classified as available-for-sale, is
impaired, as evidenced by a significant or prolonged decline in the fair value of the investment ‘below cost,
the cumulative loss, previously recognized in equity is transferred from equity and recognized in the current
period. Reversals in respect of equity instruments classified as available-for-sale are recognised directly in
equity. y
Derecognition of financial assets and financial liabilities
A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is
derecognized when: ’ ~ ;
«the rights to receive cash flows from the asset have expired; :
+ the Bank retains the right to receive cash flows from the asset, but has assumed an obligation to pay them
in full without material delay to a third party under a ‘pass through’ arrangement; ar
* the Bank has transferred its rights to receive cash flows from the asset and either (a) has transferred
substantially all the risks and rewards of the asset, or (b) has neither transferred nor retained substantially
all the risks and rewards of the asset, but has transferred control of the asset. .
When the Bank has transferred its rights to receive cash flows from an asset and has neither transferred nor rétained
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 repay.

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
Where an existing financial 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.

Derivative financial instruments ;
The Bank uses derivative financial instruments such as foreign exchange contracts to hedge its risks associated with foreign
currency fluctuations as a part of its client-related trading activities. Such derivative financial instruments are initially
recognised at fair value on the date on which a derivative contract is entered into and aré subsequently remeasured at
fair value. Derivatives are carried in other assets or other liabitities. .

Trade and other receivables

Trade receivables are recognised and carried at the lower of their original invoiced value and recoverable amount

Provision is made for any amount outstanding for more than six months Balances are written off when the probability of

recovery s is assessed as,being remote. .

Cash and cash equivalents

Cash and short term deposits in the balance shee i
7 t comprise cash at banks and in hand and short term depos
original maturity of three months or less. eS ee

Intangible assets

Intangible assets Scnsist of software and are carried at cost less accumulated amortisation, Intangibles assets are
ncaa on a straight-line basis over three years. The Carrying amounts of intangible assets are reviewed at each
‘balance’sheet date to assess whether they are recorded in excess of their recoverable amounts,

neti: : and where carryi
values exceed this estimated recoverable amount, assets are written down to their recoverable amo *

unt,

Property and equipment

Property and equipment are stated at cost less accumulated depreciation and accumulated impairment in value
Depreciation is calculated on a straight-line basis as follows: i ,
Leasehold Improvements

5 years
Fixture, Office Equipment and Computers a

3- 10 years

ane carrying amounts of property and equipment are reviewed at each balance sheet date to assess whether they are
recorded in excess of their recoverable amounts, and where carrying values exceed this estimated recoverable amount
assets are written down to their recoverable amount . '

Impairment of non-financial assets

The Bank assesses at each reporting date, or more frequently if events or circumstances indicate that the
Carrying value may be impaired, whether there is an-indication that a non-financial asset may be impaired. If
any such indication exists, or when annual impairment testing for an asset is required, the Bank wikis an
estimate cr the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s cash-
generating unit's fair value less costs to sell and its value in use and is determined for an individual asset, ies
the asset does not generate cash inflows that are largely independent of those from other assets or
assets. Where the carrying amount of an asset exceeds its recoverable amount, the asset is considered fs nee
and is written down to its “ecoverable amount. In assessing value in use, the estimated future cash an are

discounted to their present value using a discount rate that reflects current market assessments of the time
value of money and the risks specific to the asset.

An assessment is made at each reporting date as to whether there is any indication that previously recognised
impairment losses may no longer exist or may have decreased. If such indication exists, the recoverable amount
is estimated. A previously recognised impairment loss is reversed only if there has been a change in the
estimates used to determine the asset’s recoverable amount since the last impairment loss was recognised. If
that is the case the carrying amount of the asset is increased to its recoverable amount. That increased einen

cannot exceed the carrying amourt that would have been determined, net of depreciation, had no impairment
loss been recognized for the asset in prior years.

Pensions

The Bank operates a post-retirement benefit scheme for its employees, a defined contribution pension plan. A defined
contribution plan is a pension plan into which the Bank pays fixed contributions of 15% of each employee’s salary: there

1s no legal or constructive obligation to pay further contributions. Under the provisions of the plan, each employee
contributes a minimum of 7.5% of their annual salary to the plan.

Provisions
A provision is recognised where the Bank has a legal or constructive obligation as a vesult of a past event and it is
probable that an outflow of economic benefits will be required to settle the obligation. If the effect is material,

expected further cash flows are discounted using a current rate that reflects, where appropriate, the risks specific to
the liability. ,

Where the Bank expects some or all of a provision to be reimbursed, for exa:aple under an insurance policy, the
reimbursement is reccgnised as a separate asset but only when recovery is virtually certain.

Income taxes °
There are no income taxes in.> ad on the Bank in the Commonwealth of The Bahamas.

Assets under management and trust administered assets

The consolidated balance sheet does not include assets under management for clients and assets held in trusts
administered by the 2ank. No accourt is taken + this consolidated balarice shect of assets and liabilities of clients
administered by the Bank as custsdian, trustee, o: nominee, or its subsidianes as custodian, trustee, or nominee,
other than those assets and abilities which relate to banking services providea oy the Bank or its subsidianes for
their clients, The Bunk nas 2 fiduc:ary obti2at'on to its customers for the administration of these accounts.



: 23, 2008
THE TRIBUNE | WEDNESDAY, APRIL 23 PAGE 7B

; :
Adoption of IFRSs during the year 9. Customer deposits
The Bank has adopted the following new and amended IFRSs and IFRIC interpretations during the year. Adoption of

31 December 31 December

these revised standards and interpretations did not have any effect on the financial performance or Position of the 2007 2006
Bank. They did however give rise to additional disclosures, including in some cases, revisions to accounting policies. $000 $000
© IFRS7 Financial instruments: Disclosures $ 56,505 S$ 64,613
2 IAS1 Amendment — Presentation of Financial Statements Current accounts 245 165
co elect 280,962 254,414
The principle effect of the changes to the disclosures in the balance sheet are as follows: ume eeposiks $ 337,712 5 319,192
IFRS 7 Financial Instruments: Disclosures ae 10. Other liabilities
This standard required disclosures that enable users of the balance sheet to evaluate the significance of the Bank's
financial instruments and the nature and extent of risks arising from those financial instruments. The new disclosures 31 December 31D bi
are included throughout the financial statements. While there has been no effect on the financial position or results, 2007 7 Tseo6
comparative information has been revised where needed. $000 $000
. IAS 1 Amendment - Presentation of Financial Statements ‘ ! bl 5 932 5 825
This amendment requires the Company to:make new disclosures to enable users of the balance sheet to evaluate the Pe aes eames * 446t ~ Sano
Bank’s objectives, Policies and processes for managing capital. The new disclosures are shawn in note 20. Accounts and fees payable 1,367 1/604
5 5 Fi Sundry pavables 52 35
Future changes in accountin licies
3 Po! Other provisions . : 220





Early adoption i S 3,812 S$ 4,064
The Bank did not edrly adopt any new standards during the year. Sen fo ge pe

Due to parent and fellow subsidiary undertakings $ 32 $ 33
IFRSs and IFRIC Interpretations not yet effective es

Th no} he f IFR stations that ha’ i ive: . . -
© Bank has not adopted the following IFRSs and IFRIC Interpretations that have been issued but are not yet effective: ‘The other provisions related to certain legal actions fer which the Bank considered there to be a Possible financial

impact. Significant accounting judgements and estimates have been made due to the uncertainty and timing of any
future cash flows associated with this litigation.

IFRS 8 Operating Segments, requires disclosure of information about the Bank’s operating segments and replaced the
requirement to determine primary, (business) and secondary (geographic) reporting segments in the Bank. This
standard becomes effective for annual periods beginning on or after 1 January 2009, and as a result, certain disclosures
may be added to the Bank’s financial statements upon adoption.

IAS 23 Borrowing Costs, was issued in March 2007, and becomes effective for financial years beginning on or after 1 11, Subordinated liabilities
January 2009. This standard has been revised to require capitalization of borrowing costs when such costs related to a’
qualifying asset. The adoption of this interpretation is not expected to have an impact an the consolidated financial

. On 10 November 2004, the Bank entered into a subordinated loan agreement with its Parent. The Loan is denominated
statements when implemented in 2009.

in US dollars, due in 2013 and accrues interest at a rate of LIBOR plus 0.9%. The loan is unsecured and claims in
respect of it are subordinated to the claims of all other creditors. The balance of the loan at December 31 , 2007 was _
$3,632 (2006: $3,632). Accrued interest related to the loan at December 31, 2007 was $31 (2006 - $33).

IFRIC 11 was issued in November 2006, and becomes effective for financial years beginning on or after 1 March 2007.
This interpretation addresses group and treasury share transactions related to share-based payments to employees. As
equity instruments are issued to employees in accordance with the employee equity participation plans, the
interpretation may have an impact on the Bank. :

IFRIC 12 was issued in November 2006, and becomes effective for financial years beginning on or after 1 January 2008. 12. Called up share capital

This interpretation gives guidance on the accounting by operators for public-to-private service concession
arrangements. This interpretation is not expected to be relevant for the activities of the Bank. 31 December
2007 2006
IFRIC 13 was issued in June 2007 and becomes effective for annual periods beginning on or after 1 July 2008. This : , $000 $000
interpretation requires customer loyalty award credits to be accounted for as a separate component of the sales
transaction in which they are granted and therefore part of the fair value of the consideration received is allocated to
the award credits and deferred over the period that the award credits are fulfilled. The adoption of this interpretation

31 December

Authorised, issued and filly paid: :
1,000 Class A ordinary shares of $50 each (2006: 1,000 shares) $ 50 S 50





is not expected to have an impact on the Bank’s financial statements when implemented in 2008. 59,000 Class B ordinary shares of $50 each (2006: 59,000 shares) ceeene inn fe 950 2,950
$__ 3,000 $3,000

IFRIC 14 was issued in July 2007 and becomes effective for annual periods beginning on or after 1 January 2008. This t
interpretation provides guidance on how to assess the limit on the amount of surplus in a defined benefit scheme that
can be recognized as an asset under IAS 19 Employee Benefits. The adoption of this interpretation is not expected to
have an impact on the Bank’s financial statements when implemented in 2008.

The Class A shares carry all of the voting rights in the Bank. Both classes of shares carry equal rights to participate in
dividends.
13. Share premium

3. Due from banks Share premium represents proceeds received for equity share capital in excess of the nominal value per $50 ordinary



shares. .
31 December 31 December
2007 2006 : 7 :
$000 31 December 31 December
eee 2007 2006
Repayable on demand , : 5 43,038 5 46,597 $000 $000
Other deposits with fixed maturities - 225,048 212,487
ete ee Share premium account: s
$ 268,086 S$ 259,084 40,000 Class B ordinary shares of $25 each $ 1,000 $ 1,000
The above amounts include: ae . . : ; , . :
Due from parent and fellow subsidiary undertakings $ 212,929 S:, 183,452 . Share premium may be converted to ordinary shares of the class for which the premium was paid by eons of a special
See resolution of the Board of Directors. Upon conversion, share premium shall have the same rights and privileges of the

relevant class of ordinary shares.

4. Loans and advances to customers
14. Contingent liabilities and commitments

31 December 31 December At the balance sheet date, the contract amounts and risk weighted amounts or replacement costs of contingent









_ 2007 2006 liabilities and commitments were:
$000 $000
Residential mortgages S 62,841 $ 49,969 a4 December. 3 Pecsmeer
one: backed loans 7 17,390 18,080 contract contract
——___§,834 9 6,382__ amount amount
Gross loans and advances 87,065 74,431 . sooo $000
?
Less: Allowance for impairment losses (50) (70) ed .
Contingent liabilities: 7
: ! Guarantees and irrevocable letters of
Total loans and advances to customers $ 87,015 $74,361 eal ; S 110 $ -80
* Commitments:
. Undrawn formal facilities, credit lines and
31 December 31 December other commitments to lend .
2007 2006
$000 $000 - one year and over : S 1,539 $ 2,003
Concentration of credit risk * - less than one year 16,909 15,828
Property and real estate : $ 62,841 | S > 49,969 7 18,448 :
Other 24,224 24,462 _
87,065 74,431 .
The Bank is a party to certain financial instruments with off-balance sheet risk, in the normat course of business, to
Less: allowance for impairment/ provisions (50) (70) * meet the financial needs of customers. These financial instruments include acceptances and guarantees, commitments
— 587,015 $74,361 to extend lines of credit, and commitments to onginate loans and mortgages. Exposure to loss is represented by the
: a contractual amount of each of the instruments. Where guarantees are issued on behalf of customers, the Bank either ~
4 37 peagereds 31 Saas ‘§ holds collateral against the exposure or has ‘the right of recourse to the customer.
Ki $000 $000 8
Geographical concentration of risk 15, Fair value of financial instruments
North America $ 41,599 $ 27,009
Bahamas ? 22,369 26,202 : : . : ars ee
Europe . e 13,790 16,627 Set out below is a comparison by class of the carrying amounts and fair values of the Bank’s financial instruments that
Other Countries , 9,347 4523 are carried in the balance sheet. The table does not include the fair values of non-financial assets and non-financial
$87,015 $74,361 liabilities,
The fair value of collateral that the Bank holds relating to loans individually determined to be impaired at December : : Carrying Fair Unrecognised Carrying Fair Unrecognised
31, 2007 amounts to $2,600 (2006 - $2,800). . : vaiue Value gain/(loss) value value gain/ (loss)
: ; 2007 2007 2007 2006 2006 2006
5. Financial investment 7s $000 $000 $000 $000 $000 $000
: Financial assets |
, Cash and balances with central bank 131 131 $cc: 42 42 S$:
tae Ss Due from banks 268,086 268,151 65 259,084 259,148 64
i ; 7 sal s : Loans and advances to customers . 87,015 87,427 412 74,361 74,803 442
Movement in available-for-sale financial investments Financial investments - available-for-sale 5 5 - 2,004 2,004 7
1 January § 2,004 S 12,903 Other assets 2,535 25535 . 2,156 2,156
Disposals (sale and redemption) (1,999) .(10,780)
Impairment : (119) Financial liabilities 92 319,258 66
Customer deposits 337,712. 337,824 112 319,1 19,2 6
At 31 December : $ 5 $ 2,004 Other liabilities 3,812 3,812 : 3,614 3,614
Subordinated liabilities 3,632 3,663 313,632 3,666 84
= . ised ch i realised 7
The Bond held by the Bank matured on 1 February 2007. The Bank collected the face value of the Bond. The eules ayer S620 : S606





pel investment, shares in the Bahamas International Stock Exchange (BISX} was vntten down to its fair value in
2006.

6. Property and equipment



The following describes the methodologies and assumptions used to determine fair values for those financial
instruments which are not already recorded at fair value in the financial statements.







Freehold * Fixtures, Assets for which fair value approximates carrying value
ane office For financial assets and financial liabilities that are liquid or having a short tern maturity (less than three months) it is
im ote ee Total assumed that the carrying amounts approximate to their fair value. This assumption is also applied to demand deposits
P $000 3000 $000 and variable rate financial instruments.
Cost:
At 1 January 2006 $1,317 $3,421 $4,738 Fixed rate financial instruments :
oe " i aS The fair value of fixed rate financial assets and financial liabilities carried at amortised cost are estimated by
® : - le : a comparing market interest rates when they were first recognised with current market rates offered for similar financial
ot December 2006, : lige 3/969 a instruments. The estimated fair Value of fixed interest bearing deposits is based on discounted cash flows using
Additions . a 88 175 2638 prevailing money market rates for debts with similar credit risk and maturity.
At 31 December 2007 1,416 3,740 9, 156 |
Depreciation: 16. Maturity analysis ‘of assets and liabilities
At 1 January 2006 964 2,625 - 3,589
267 399 : a .
Peisbaer ipa pbalot iat aad (11) (11) The table below shows an analysis of assets and liabilities analysed according to when they are expected to be
- - ae recovered or settled. .
At 31 December 2006 1,096 2,881 3,977 ;
Depreciation charge for the year 124 210 334 Subtotal Subtotal
Less less over
At 31 December 2007 220309743 then 3-12 than12 1-5 Over 5 12
Net book value at 31 December 2007 ad 5 196 5 649 5 845 Demand 3months months months years years — months Total
; : 2007 2007 2007 2007 2007 2007 2007 2007
232 684 $ 916
Net book value at a December 2006 ed > Oe $000 $000 $000 $000 $000 $000 $000 $000
Assets
Cash and balances with
7. Intangible assets
ngi central bank $ 131 $ on) - S$ 1315 $ - § S 131
Oue from banks 43,039 208,625 16,422 268,086 268,086
Intangible assets are comprised entirely of computer software. Loans and advances to - - - : - ;
customers 810 12,376 5,186 18,372 16,638 52,005 68,643 87,015
Financial investments
Total available-for-sale : : . . . 5 5 5
$000 Property and equipment : : : - - 845 845 845
Intangible assets : : 7 16 16 16
Cost: . : 7" Other assets 2952 2,952
agen 2006 - $ 1,2 9 Total assets $ 46,932 $221,001 __$ 21,608 $289,541 S$ 16,638 § 52,871 _$ 69,509 $ 359,050
; _ a 2 oe a aoe ene
Liabilities
: ; 1,286 .
At 31 December 2006 Customer deposits S 56,750 $247,466 S$ 33,496 $337,712 § - § - § § 337,712
Additions 7 aera) Other liabilities 3,812 : 3,812 : : : 3,812
31 bacner oH 1,295 Subordinated liabilities . wot 3,632, 3,632 3,632 _
‘Arnott iwations 3 Total liabilities 60,562 247,466 33,496 341,524 : 3,632 3,632 345,156
vartlaations bo eee ee oe: as ee one ute
At 1 January 2006, 1,198 Net (13,630) _$ (26,465) $111,888) _$(51,983)_$ 16,638 $49,239 $65,877 _$ 13,894
Amortization charge for the year pe Mn 7 : ae
At 31 December 2006 . - 1,272 : Subtotal Subtotal
; . , ess less over
Amortization charge for the year poe then 3-12 than 12 1-5 Over 5 12
At 31 December 2007 1,279 Demand 3months months months years years months Total
—. a6 7 2006 2006 2006 2006 2006 2006 2006 2006
Net book value at 31 December 2007 a $000 $000 $000 $000 $000 $000 $000 $000
14
Net book value at 31 December 2006 $ a Assets
Cash and balances with
central banks S 43° $ - § - § 43 $5 = § - § $ 43
8. Other Assets ‘ Due from banks 46,357 198,598 14,129 259,084 - 259,084
Loans and advances to
31 December 31 December customers 1,287 2,983 11,110 15,380 12,181 46,800 58,981 74,26"
2007 2006 Financial investments
$000 $000 available-for-sale . : 1,999 : 1,999 5 5 2,004
Property and equipment
‘
Interest receivable S 556 S 457 916 916 916
Prepayments and accrued income : 1,547 1,596 intangible assets , : 14 14 14
Sundry receivables 849 303 Other assets 2,356 23560 358
5 2,952 5 2,356 Total assets $__2U,043 $203,580 _$ 25,239 $278,862 _$ 12,181 $47,735 $59,916 $338,778
— a FIO 99 58 178
Liabilities ‘
x The amounts include: . C
wi 501 5 ustomer deposits 5 64,777 $237,720 §$ 16.671 $319,168 $ 24°=«$ : 24 319,192
Due from parent and fellow subsidiary undertakings poe Haeeett 1-1 es Lean Other liabilities 4,004 : 4064 7 5 4064
: 3 Subordinated liabilities’ _ : : 3,632 3,632 3,632
Total liabilities 68,841 237,720 16,671__ 323,232 24 3,632 3,656 326,888



Net —S_U8,798, 524,140) $8,568 $144,370) $12,157 _§ 44,103

890

$ 26,260 $ 11,



PAGE 65, WEUINCOUA!, Arnit cu, cvve

17. Risk Management

A summary of the Bank’s classification of its assets is shown below:

Available Non-

Loans/ for financial
receivables sale Assets Total
2007 2007 2007 2007
$000 $000 $000 $000

Note

Classification of financial instruments
Assets
Cash and balances with central banks $ 130 § : §$ 1 °§ #131
Due from banks 3 268,086 : - 268,086
Loans and advances to customers 4 87,015 87,015
Financial investments - Available-for-sale 5 : 5 . ;
Property and equipment : : -
Intangible assets
Other assets 8 2585 T2952
Total on balance sheet 357,766 1279 359,050.
Contingent liabilities , 19 110 110
Comsihnants 19918448 18 8
Total off balance sheet 18,558 ata - 18,558
Total : $376,324 _§ 5_ $1,279 _ $377,608

Total non-financial instruments $1,279

Total financial instruments $376,329

7 Avaliatle Non-
Loans/ for — financial
Receivables sale Assets Total
2006 2006 2006 2006
$000 $000 $000 $000
Note
Classification of financial instruments
Assets
Cash and balances with central banks $ 42 $ a °$ 1.§ 43
Oue from banks 3 259,084 . - 259,084
Loans and advances to customers 4 74,361 - 74,361
Financial investments - Available-for-sale 5 - 2,004 2,004
Property and equipment =~ rn : ee 20
Omer race : 8 2,156 . 200 2,356

Total on balance sheet

Contingent liabilities ‘ 19 gs $ - $ “$ 80
Commitments he Was a a
Total off balance sheet , 17,911 : : 17,911
Total ; $353,554 $2,004 $ 1,131 $356,689

Total non-financial instruments $1,131.

Total financial instruments $335,558 _

Risk is inherent in the Bank’s activities but it is managed through a process of ongoing identification, measurement and
monitoring, subject to risk limits and other controls. The Bank is exposed to credit risk, liquidity risk and market risk.
It fs also subject to operating risks. The independent risk control process does not include business risks such as
changes in the environment, technology and industry. They are monitored through the Bank strategic planning process.

Rish management structure .
The Board of Directors ts ultimatety responsible for identifying and controlting risks; however, there are separate
independent bodies for managing risks including; the risk committee, the credit committee, the asset and liability

committee and the group internal audit department. Each of the individual bodies are empowered to implement risk ,

strategies for maintaining controls over the portions of the Bank's operations for which they are responsible.

Risk mitigation .
As part of its overall risk management, the Bank may use derivatives and other instruments to manage exposures
resulting from changes in interest rates, foreign currencies, credit risks, and exposures arising from forecast
transactions. A daily report is given to Senior Management detailing inter-alia liquidity ratios; large exposures; currency
exposures; connected exposures and other regulatory and internal ratios. The Bank also actively uses collateral to
reduce its credit risks (see below for more details). ?

Excessive risk concentration

Concentrations arise when a number of counterparties are engaged in similar business activities, or activities in the
same geographic region, or have similar economic features that would cause their ability to meet contractual
obligations to be similarly affected by changes in economic, political or other conditions. Concentrations indicate the
relative sensitivity of the Bank’s performance to developments affecting a particular industry or geographical location.
in order to avoid excessive concentrations of risk, the Bank’s policies and procedures include specific guidelines to
focus on maintaining a diversified portfolio, Identified concentrations cf credit risks. are controtled and managed
accordingly. .

‘

The major risks associated-with the Bank’s business are:

Credit risk .
Credit risk ts the risk that one party to a financial instrument will cause a financial loss for the other party by tailing to
discharge their contractual obligations.
Credit risk arises principally from lending, investment and, to a lesser degree, on trading’ activity involving on and off
, balance sheet instruments. Ansbacher Group Credit Committee is responsible for setting book, portfolio and individual
. Credit limits. Exceptions are reported by the Bank's Credit Committee which is responsible for overseeing any remedial
action. :

The size of the balance sheet {s such that it is possible to éxamine each individual exposure to evaluate if specific
_ Provisions are necessary or adequate. The maximum exposure to credit risk is the carrying value of the assets.

Maximum exposure to credit risk without taking account of any collateral and other credit enhancements
The table below shows the maximum exposure to credit risk for the. components of the balance sheet, including
derivatives. The maximum exposure is shown gross, before the effect of mitigation through the use of collateral

agreements.

Gross mextmum Gross maximum





Notes exposure 2007 exposure 2006
Assets $000 $000
Cash and balances with central banks $ 130 $ Al
Due from banks 3 : 268,086 259,084
Loans and advances to customers 4 87,015 74,301
Financial investments - Available-for-sale 5 5 2,004
Other assets 8 hs 2533 28
Total 357,771 337,647,
Contingent liabilities 19 $ 110 $ 80
Commitments 19 18,448 vee TB
Total a a iB So Nh
Total credit risk exposure $376,329 $355,558

Risk concentrations and Maximum exposure to credit/counterparty risk :
Concentration of risk is managed by client/counterparty, by geographical region ai. \y ingustry sector. The maximum
Credit exposure to any client or non-banking counterparty as at 31 December 2((°7 v:as $4.2 million (2006: $4.4 million)
before taking account of collateral or other credit enhancements and nil (2008 nul) net of such protection, The
maximum settlement exposure to any bank counterparty as at 31 December 207? was $17.4 million. (2006:.$39.6

million) before taking account of collateral of other credit enhancements and $17.4 milligr (2006. $39.6m°"" ° of
~ Such protection, .
J

The Bank’s financial assets, before taking into account any collateral held.or other credit cahancéments can be
analysed by the following geographical regions:

Benking Banking
activities... activities
2007 2006
$ooo $000
prea ; 5 + $ 1,999
Other Gores aes i99,}40
peseiee East 2,048 1,733
‘aribbean ' 31,515, 37,712
North America 95,237 114,564
South America 2,567 :
Africa is 107
as seve tae cee 302,
“Total = owes - .

$376,329

An industry sector analysis of the Bank's financial assets, before and after taking into account coitateral held or other credit
enhancements, is as follows: : ,

Gross Net Gross Wet

Maximum maximum maximum Maximum

exposure exposure exposure exposure

2007 2007 2006 2006

$000 $000 $000 $000

Financial services $ 268,216 $ 268,216 $ ° 261,125 $ 261,125
Services 6,833 4,187 6,382 4,346.
Residential mortgages . 62,792 : 49,899 :
Asset backed loans 17,390 . 18,080 :
Other ceo 21098 21,098 20072 20,072
Total $376,329 $ 293,501" $ 355,558 7 $285,743

Collateral and other credit enhancements

The amount and type of collateral required depends on an assessment of the Credit risk of the counterparty.
Guidelines are implemented regarding the acceptability of types of collateral and valuation parameters.

The main types of collateral obtained are as follows:

° For securities lending, cash or securities,
e For retail lending, Mortgages Cer serident.al properties
° For yacht lending, mortgage over vese-1

‘Management Monitors the market vaiue of coliateral, requests additional cau:
agreement, and monitors the market waive of co!

for impairment losses.
X

atery: in accordance with the underlying
‘lateral obtained dunng :ts review of the adequacy of the allowance

$ 335,643 $ 2,004 $ 1,131 $338,778

, $395,958 -

et

inc

Credit quality per ciass of financial assets
The credit quality of financial assets 1s managed by the Bank using interna: credit ratings. The table below shows the
credit quality by class of asset for loan-related balance sheet lines, based on the Bank's credit ratig system.



r Past due nor impaired

Past due or
High Standard Sub- individually
grade grade standard impaired Total
2007 2007 2007 2007 2007
$000 $000 $000 $000 $000
Due from banks 5 240,119 _ $27,967 S$ : S$... +) $ 268,086 |
Loans and advances to customers :
Residential mortyages : 62,504 : 288 : 62,792
Asset backed loans : 17,243 : 147 17,390
Other pet ihe ete ASO BUT se hes i se uO 2, 101833
= 86,564 -- 451 87,015
Financial investments ;
Unquoted equity securities Oe ee ihe eles, eal ee oO nection gerne 2 oa
Totat $ 240,119 $ 114,531 $ 5 $ 5,106



Neither Past due nor impaired _





*° Sub- Past due or
High Standard stusdard individually
grade grade mortgages impaired Total
2006 2006 2006 2006 2006
$000 $000 $000 $000 $000
Due from banks S 232,198 _$ 27,018 ee ts S _ 7 $259,126
Loans and advances to customers
Corporate lending : : . :
Residential mortgages : 49,655 : 244 49,899
Asset backed loans : 17,917 : 163 18,080
Other : 6,373 : 9 6,382
. : 73,945 . 416 74,361
Financial investments ‘
Quoted - other debt : 1,999 : “* 1,999
Unquoted - equity securities an ect i Ae a as 6
Total . $ 232,108 $ 102,692 $ 6 S$ 416 $ 335,492
Credit risk exposure for each internal risk rating
Average Average
unsecured unsecured
Historical share of share of
default exposure Total exposure Total
rates 2007 2007 2006 2006
% % $000 % $000
Fitch equivalent grades
Papa i 0% 0% $ 24,410 0% $39,640
of to A- O% 0% 215,144 0% 194,466
; B+ to BBB- O% 0% 27,966 0% 26,930
B+ to B- 5% 6% 108,699 6% 94,442
apeadls 100% 110 00%





Total (Gross Maximum Exposure) S$ 376,329

The purpose of credit rating is to provide a simple, but effective and ongoing system of credit risk gradation by which
relative credit worthiness of borrowers may be identified and accordingly the level of credit enhancements, degree of
Monitoring, frequency of reviews, level of provisioning, and pricing can be determined. Credit rating would reflect
both the likelihood of default and any possibility of financial loss suffered in the event of default.

The credit quality of most borrowers is not constant over a period of time, but tends to undergo change. For this
reason changes in ratings must. reflect changes in the relative strength of the borrowers and their obligations.
Appropriate credit rating must be assigned tu every borrowing relationship. Such rating must be assigned at the time
of credit extension and. revizwed and updated in each review or if the situation warrants a change at any other time. A
rating change highlights a‘change in the credit worthiness, or corrects a Previous rating that did not fully reflect the
quality of the credit. Because of their very nature, Changes are to be expected more frequently among credits with

lower ratings than among credits of higher ratings. Changes to credit ratings are agreed by the Bank’s Credit
Comnuttee.

Tne assigning of a risk rating calls for professional judgement and can involve subjective elements. When a credit
rating fs assigned, all relevant information concerning the risk profit of the borrower ts considered including, but not
limited to, industry trends, economic climate, business environment and earning track record. Consideration is given
such less quantifiable items such as opinion of management, perception of trustworthiness and character, hidden
reserves, and other factors that may not be reflected in the financial statements.

Aging anatysis of past due but not impaired toans per class of financial assets

Less than -31 to 60 61 to 90 More than Total
30 days days days 91 days 2007
_. $000 $000 $000 $000 $000
Loans and advances to customers
Residential mortgages S 169 $ 8 S 8 §$ = . 103 S 288
Asset backed loans 147 : - : 147
Other NN 5 AO,
$ 332 $ 8 S 8 $ 103 S 451
Less than 31 to 60 <64't0-90") More’ thali “< Total”
30 days Days days 91 days 22006 ><
$000 $000 $000 $000 $000
Loans and advances to customers v0
Residential mortgages $ 187 Ss 45 $ 12 $ : $. 244
Asset backed loans 163 : : 163
Other Gi hao i aS A Ae re ede Coat ae eens, ingest
$359 S$ 45 $ 12, $ a) 416

Carrying amount per class of financial assets whose terms have been renegotiated

The table below shows the carrying amount for renegotiated financial asset, by class:

2007 2006
$000 $000
Loans and advances to customers
‘Residential mortgages ‘ $ 888 $180
Liquidity risk management

Liquidity risk 1s the nsk that the Bank is unable to meet its payment obligations when they fall due and to replace funds
when they are withdrawn, the consequence of which may be the failure to meet obligations to repay depositors and
fulfil commitments to lend.

Liquidity management within the Bank has two principle strands. The first is day-to-day funding, managed by
monitoring future cash flows to ensure that requirements can be met. This includes replenishment of funds as they
mature or 1s borrowed by customers. The second is access to intra-group funding from Ansbacher & Co. Ltd., London
and from QNB.

Analysis of financial liabilities by remaining contractual maturities *

The table below summarizes the maturity profile of the Bank’s financial liabilities based on contractual discounted
fepayment obligations. See note 21 “Maturity of assets and liabilities” for the expected maturities of these liabilities.





On Less then 3-12 #-5 Over
demand 3 months months years 5 years Total
$000 $000 $000 $000 $000 $000

Financial liabilities
As at 31 December 2007
Customer deposits $ 56,750 § 247,466 $ 33,496 §$ ae) $ 337,712
Other liabilities é 3,812 7 : : 3,812
Subordinated liabilities bce eh 3,632 ___3,632__
Total undiscounted financial :
abilittes 2007 $ 60,56. $ 247,466 §$ 23.496 § - $ 3,632 $345,156



a

On Less then 3-12 1-5 Over
demand 3 months months years 5 years Total
$000 $000 $000 $000 $000 $000

Financial liabilities
As at 31 December 2006
Customer deposits $ 64.777. $ 237,720 § 16,671 $ 24 S S$ 319,192
Other liabilities 2,083 : : : : 2,083
Subordinated liabilities : 3,632_ 3,632 _



Total undiscounted financial

liabilities 2006 $ 68,392 $ 237,720 $ 16,671 $ 24 $ 3,632 $ 32



a



The table below shows the contractual expiry by maturity of the Bank’s contingent liabilities and commitments:

3 to 12 tto5
months years Total
$000 $000 $000
2097
Contingent liabilities $ $ 110 $ 110
Commitments 16,909 1,539 _ 18.448
$ 16,909 $1,649 $ 18,558
2006
Contingent habilities $ 5 80 S 80
Commitments : 15,828 = 2,003, ‘17,851
S_ 15,828 $2,083 $17,911
Market risk

Market risk is the msk that the fair value or future cash flows of a financial instrument will fluctuate because o!

Changes ‘1 market prices. Market risk comprises three types of risk: currency :.sk, interest rate risk and other pnce
risk.

Market risk, including foreign exchange, interest rate and liquidity nsk, 1s encountered in both the investment and
trading books. Ansbacher '- ~up ALCO is responsible for setting market risk limits and for Managing and monitonny
these limits. The treasury department of Ansbacher & Co. Ltd., London operates a central tre; ury for the Ansbacher
Group and is responsible for the active management of the market risk of the Group on a day to day basis within limits
set by Group ALCG. The Bank also monitors market risk on a day to day basis

The Bank’s treasury department manaces the liquidity structure of the consolidated balance sheet. This is to ensure
that funding obligations are met and that the reeulatory liquidity requirements are complied with. General market
liquidity nsk is considered within the contest of scenario testing

i SFI 5955S

(MOviw

ir



Interest rate nsk
Interest rate risk is the :1sk that the fair value or future cash flows of a financial strumentt wil Me taste be ause of
changes in market interest rates.

The principal interest rate risk in the investment books is that of interest rate mismatching (re-p: cing risk) which ts
Monitored through the regular analysis of the book into various time buckets (gap analysis), with limits being set for
each individual gap. Marke, risk positions are monitored independemty by the treasuny department of Ansbacher & Co.
Ltd. The Bank aiso monitors interest rate rish on a day to Jay Dasis

Weighted
25 basis sep
Pt position Limits Room
% i000 £000 £000
As at 31 December 2007
GBP .
@ 1 month 0.01 QO 8 8
1- 3 months 0.04 0 25 25
9 3 months 0.05 0 17 16
3-omonths 0.09 0 7 17
6 - 12 months 0.18 0 17 17
Weighted
4 25 besis sap
Pe position Limits Room
% $000 $o00 $000
As at 31 December 2007
usD
0-1 month 0.01 1 17 16
1. 3 months 0.04 (4) 50 46
0 - 3 months 0.05 23 33 31
3 - 6 months 0.09 (4) 33 29
6 12 months 0.18 oO 33 33
Weighted
25 basis gap
5 eo _ bimits Room
As at 31 December 2007 : potas on
EUR :
0. 1 month . 0.01 QO nN W
1-3 months 0.04 0 34 34
0 3 months 0.05 0 23 23
3-6 months 0.09 0 23 23
6 - 12 months - 0.18 0 » 23 23
Interest rate risk (continued)
Weighted
25 basis gep
Pc Position Limits Room
As at 29 December 2006 * rahi see we
GBP
0-1 month
Z 5 ; 0.01 0 8 8
; : 3 rene 0.04 0 23 23
305 bye 7 17 17
es Q 7
6 - 12. months 0.18 : 17 v
Weighted
25 basis gop
ft Position Limits Room
Aabae sone % $000 $o00 $ooo
USD :
Q 1 month 3
1-3 months 0.04 We a m
3 6 months 0.09 a8) 32 30
6 - 12 months 0.18 3 2 a
Weighted
a 25 basis gap :
Pe * position Limits Room
As at 29 December 2006 . ad — sone.
EUR.
0-1
a mont. 0.01 (0.2) 12 12
0 - 3 months -. : a4 aa
3 6 months ao ‘ - oe
. . 4 ‘
6 - 12 months 0.18 0 75 3

ibe above modified duration calculations have been developed internatly to quantify the IRR to the Bank's net interest
oe The modified duration calculation is applied to each gap to convert the gap to a monetary value. using a 25
is point standardized shock. Assets are denoted by a positive value and liabitities by a negative value.

Note: The weights applied to the mismatch per time band is as per the “Principles for the Management and Supervision ©

of Interest Rate Risk” consultative document issued by Basel Committee on Banking Supervision in September 2003.
These factors (weights) are based on an assumed parallel 25 basis point shift throughout the time spectrum, and on a
Proxy of modified duration of positions situated at the middle of each time-bank ard yreldine 5x.

Currency risk is the risk that the fair value or future cash flows of & financial instrument wit! fluctuate becuse of
changes in foreign exchange rates.

Wiis oe . sites via shiek short.open and foreign exchange gap limits. Foreign exchange trading has
been Bank during the period under review and, in the opi f
inherent. in these limits is considered tobe minimal, acc vt HUET geet ce ae re

Operational risk ees ny ‘ ,

oo is - - that deficiencies in information systems or internal controls result in unexpected business

oo See The identification and somrok of these risks is managed by the Bank's Risk Comittee.

ileal trea eet t and the Group’s Internal Auditors carry out regular reviews of all operational

Lek are being property controlled and reported to the Risk Committee. Contingency plans
eve salen Continuity in the event of serious disruptions to business operations.

18, Operating lease commitments,
(a) Operating lease agreement where the Bank fs lessee
‘ :
uture minimum rentals payable on Property under non-cancellable operat-ng tzases are as follows:

“31 December” 37 December

2007 2006
$000 $000
Not later than one year
After one year but not more than five years : oe ; o
ee 94 __., Jase
\ vom ccna 573 $1,750

(b) Operating lease agreement where the Bank is lessor
Future mihimum rentals payable on Property under non-canceltable operating "case 4° as iollows:

4! December 31 December
2007 2006
$000 $000

Not later than one year

. After one year but not more than five years - ele > poe

290 1,070
912 S$ 1.667

19. Related party balances

Parties are consid i
tp tis emia to be related if one party has the ability to control the other Party or exercise significant
ENC T party in making financial or operation decisions, or one other Party controts both. a7

(a) Subsidiaries
Details of the principal subsidiary are shown in Note 2.

(b) Entities with significant influence over the Bank
The
Bank also engages in banking activities with entities with significant influence over the Bank.

In aggregate, balances included in the balance sheet are as foliows:

Due from banks
—2212,929 $183,452
Other liabilities 2 :
Subordinated debt s ee $1,882
3,037,
4S 554
20 Capital: rao is,,

ies Bank maintains an actively managed capital base to. cover risks innerent in the business. The adequacy of the
2 a Capital is monitored using, among other measures, the rules and ratios established by the Basel Committce on
anking Supervision and adopted by the Central Bank of the Bahamas in supervising 'the Bank.

Capital management
T i “
he primary objectives of the Bank’s capital management are to ensure that the Bank complies with externally

imposed capital requirements ond that the i
2 ue Bank maintains strong credit ratings and healthy capital ratios in order to

tes ae manages its capital structure and makes adjustments to it in the light of changes in economic conditions and
risk characteristics of its activities. No changes were made in the objectives,” policies and esses fi
ate 5 P processes from the

oe Provision for loan losses ts required to meet the Bank's Statutory requirements. The generat provision is
WN aS aN appropnation ot retained eamings and reflected as part of shareholders’ equity. At 31 December 2007
the statutory loan loss reserve was $810 (2004: $723).

Regulatory capital



Ac at Required Actual Required
2003 2007 2006 2006
$000 $900 $000 $000
Tier 1 capital S
Tier? canttat $ oe $ 11,972 5 a $ 11,363
2 ake é be os a 5
Total capital BOR he. ayes get aoe ae ee
pite ae Fe ALE LS N972 899,522 $ __ 11,363
Risk weighted assets $ 2 sii reser 2
a 244,722
9,722 $193,635
Ties 1 capital ratio WW
Ter 2 cupitel ratie- 4% * oe
% *
RIG. arery Capa Corsets oP Tet capna ve erty ’ r
wrete Rare seme om . it! we
cueent wear protitfluss. Teta ediustiw yt ae Shenson, ee and” ie : fa ee ae
. . ee OE ar eG, “ooether component + +

~, y ~ . ~
regulatory centa Mer Quanta whighne let oo eri: tet ge tenes Cebe

i and t

«Inter

THE TRIBUNE

WEDNESDAY, APRIL 23, 2008, PAGE 9B

Banks’ credit
crisis over?

Not so fast

@ By RACHEL BECK
* AP Business Writer

_ NEW YORK (AP) — Bank
CEOs missed the mark in fore-
casting the destructive path of
today’s credit crisis. That’s why
we shouldn’t take too serious-
ly their predictions that it is
almost over now.
Some of Wall Street’s
biggest names have been pro-
claiming in recent weeks that
_the worst of the financial mar-
ket turmoil is likely done.
_ JPMorgan Chase’s Jamie
Dimon thinks it is “maybe 75
per cent to 80 per cent over,”
while Goldman Sachs’ Lloyd
‘Blankfein says “we’re closer
to the end than the beginning.”

Those kind of comments
helped put a positive spin on
what otherwise would have
‘been a tough earnings season
‘for financial companies, which

.have tallied massive losses as
mortgage and other. debt woes
continued to weigh on their
businesses.

It’s in the CEOs’ best inter-
ests to steer sentiment higher.
If people feel better about the
state of the economy or finan-
cial markets, that will lead to
more deals or stock trading
-and will boost bank profits.

The data don’t back up their
happy views, however. We’re
still stuck in a painful housing
downturn, mortgage defaults
continue to soar, and rising
inflation is hurting businesses
and consumers.

Credit-risk worries, which
have ravaged financial markets

-since last summer, haven’t

‘diminished either. The gap
between the interest rate on

3 the three-month Treasury bills

lenders are avoiding risk.

The credit crisis has led to
more than $200 billion in write-
downs taken by banks and
financial firms over the last
year — far more than anyone
had expected, given the opti-
mism of those companies’
CEOs last summer.

As the housing market con-
traction accelerated and sub-
prime borrowers were increas-
ingly defaulting on their home
loans in the first part of 2007,
those executives were telling
us not to worry.

Last June, Bear Stearns
CFO Sam Molinaro talked
about how the high level of
subprime mortgage defaults
hadn’t “spilled” into other
areas of the market. Merrill
Lynch CEO Stan O’Neal said
the subprime crisis was “rea-
sonably well contained.”

And in July Citigroup’s
CEO Chuck Prince said:
“When the music stops in
terms. of liquidity, things will
be complicated. But as long as

. the music is playing, you’ve got

to get up and dance. We’re still
dancing.”

All those executives are now
out of work and all their banks
are now wallflowers.

By August, risk aversion
spread through the market-
place, and has since paralyzed
credit markets and caused a
tightening of lending standards
for consumers and businesses.

That’s why we might want
to listen cautiously to what the
bank CEOs are saying now.

‘Richard Fuld, CEO of
Lehman Brothers, comment-
ed at the company’s annual
meeting that the worst is

“behind us.” Morgan Stanley.

he three-month, London..; , CEO, John Mack told investors...
bank Offered Rate: thatthe collapsevof the sub-





Weighing against that are
findings of a new CEO survey
from the Financial Services
Forum, which represents 20 of
the largest US financial com-
panies. The survey showed that
executives by a wide margin

- believed that the current creqd-

it turmoil has far to go; one in

- three of those CEOs polled put

the likelihood of a recession at
100 per cent. ‘
‘Among the trade group's
members is current Merrill
Lynch CEO John Thain, who
reported on Thursday that the
investment bank had a $2.14
billion first-quarter loss and
write-downs of $6.5 billion on
its debt including mortgage-
related securities and lever-
agedloans. I
“I hope those who say we
are at the end are correct. | am
somewhat more skeptical,”
Thain told the Financial Times
after the earnings were
released. :
Last summer, Bank of
America’s Ken Lewis seemed
confident that the end was
nearing for the housing slunip.
On Monday, the Charlotte.
NC-based bank said its prof-
its tumbled 77 per cent in the
first quarter due to trading
losses and a $3.3 billion
increase in reserves for prob-
lem loans. ;
“J think first it would be too
early to strike up the band and
sing happy days are here
again,” Lewis said Monday on
a conference call with analysts
during which he said the situa-
tion in the capital markets was
particularly tough in March.
Forget about ninth, or even
eighth inning. Maybe we
haven’t even gotten to the scy-
enth inning stretch yet.
Rachel. Beck is the natiorel

* referred to"AS the Clovelly” priitie market in ‘thé US thas» -business.columnist for The
watched “TED” spread—has reached its eighth inning or Associated Press. Write to her

been widening, indicating that

maybe the “top of the ninth.”

nie eet,

eK
oe



at rbeck(at)ap.org

1

CH Rowe ARES

ARES ARANER UE eens



PAGE 10B, WEDNESDAY, APRIL 23, 2008








‘Tribune Comics __
JUDGE PARKER

WHAT ARE YOU
TALKING ABOUT,

ZI WASN’T.--BUT
RANDY THINKS WE
SHOULD AT LEAST
TALK TO THIS MAN!

BE
3
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§
=
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THE FIRM WHEN
RANDY LEAVES!

A ait WAS THAT, GIRL,
ee ec
ee





NOBODY, JUST A GIRL WHO | :
WANTED A KISS. THAT §
MAKES IT |

ALL RIGHT 274

©2008 by North Amatica Synvicate, Inc. Werld rights reservad



HAVE A WONDERFUL
DAY, DAGWOOD

I'M IN A GOOD MOOD TODAY, MY
BOY! ANY EMPLOYEE WHO WANTS
py TO LEAVE EARLY CAN DO SO

I'M PRETTY SURE
THIS IS SOME
SORT OF A STING

© 2008 by King Features Syndicate, Inc. World Rights reserved






"..SO I THOUGHT I'D
SPEED UP MOTHER
NATURE A BIT



WELL, THE TEETH-
FALLING-OUT
BUSINESS 1S

KIND OF SLOW:

WHAT'S A TOOTH FAIRY
DOING CARRYING PLIERS ?




















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| CRYPTIC PUZZLE |

ACROSS aN DOWN
1 Apples and pears, so to speak (6) 1
7 Fit to. go on leave? (8)

Collapses as half of us go to
pieces (6)



8 Woman of imagination 2 Plants one increases (6)
(4) 3 Box witha spring on the far end (4)
10 Cat employing her own mode of 4 _ Vain advice to employ fewer (7)
operation (6) 5 Mainly American name, of Biblical
11 Aprincely watch chain (6) character (5)
14 Permit less than a plethora (3) 6 Itmakesa change from Elizabeth (5)
16 Strange way to get toa 8 — Remove the plug so as to swaliow (4)
areat lake (5) 9 It’s full of holes (3) ,
17 Drinks, just a little (4) 12. Be last, finally, but it was only a
19° Not the end nouse in gamble (3)
! Wood Street (5) 13 Call Oscar by a Beatle name (5)
21 Steve, maybe, or a follower 15 Brown kind of bird, one imagines (5)
of “6 Down” (5) : 18 Peculiar way of putting things (5)
22 Fed up with being 19 - How to be flung well away (3)
Grilled (5) 20 Relieved of some harridan (3)
23 One vessel or a large number 21 Sad, though well provided with
on the way (4) benefit? (7) nines
. : ; 1 Foot part (6
26 Not far from being a .22 Shoot a quantity of garbage (3) 7 paren el
Doozer (5) 23 One given tco much credit? (6) (8)
28 A prefix new to a Nazi, say (3) 24 Tramp joined by Ken somewhere nee
: 10 Accuses (6)
25 Inthe pictures, one plays abroad (4) . Nl Easy (6)
games (6) 25 Thrust in pointedly? (6) 14 Ready
30 Made childish attempts to 26 Fantastically feathery? (5) 16 GB)
deceive (6) . 27 Shrewd female in crafty 7 Girt (4) "
31 Viola’s semi-contralto voice? (4) extremes (5) 19 Sap (5)
32 Ingetting sharpened up, 28 Nothing changes in Leatherhead (3) eh SOBs 5
' our being praised (8} 30 Reduce the volume of these last few 22 ie a
, 33 It’s innotes that sail id { tes ao
3 ors Got paid {6) notes? (4) song (5)
23 Stink
(4)
26 Wash (5)
: / = I, ; 28 Colour
= ; (3)

Re : “ ; 29 Annexe (4-2}
Yesterday’s cryptic solutions | Yesterdav’s easy solutions Te SS 30 Turn (6)
ACROSS: 1, Laird 6, 3eing S, Arch-way 10, Ra-in-y 11, SENSE | ACROSS: !, Tripe 6, Cover 9, Annula: 10, Stand 11, Petal 12, 31 Man's
12, Seats 13, Toreats'l®; Yes 17, We-Ea 18, Po-tent 19, Stein | Mints 13, Benefit 15, Wet 17, User 18. Comedy 19, Begin 20, name (4)
20, Stan-ce 22, Asti 24, Try 25, Sh-unt-ed 26, Truly 27,0- | Cleser 22, Acne 2s, Hes 25, Fetches 26, Valid 27, Ascot 28, 32 Prinping (8)

scar 28, Got up 29, Pension 36, Dy-fe4 31, Tyoed | Soter 2°, Teacher 30, Tried 31, Adder

| Vocalist (6)
DOWN: 2, Apactie 3, Ranted 4, Dry S, Shies 6, Bastion | DOWN: ~, Relies 3, vend: 4, End 5, Cubit 6, Caption 7,







tyes (ayes) 8, Nis-Sé-- <2, State 13, Twist 14, Relay 15, ¢-| Gres 2 2 Never 14, Sunch 14, Never 15, Wench 16,
€ 3st 16, St.-aid 13, Pii-h-y 19, Scar red 21, Trusty 22, Antor, « Tyres: edt) Be oteg fl, sesser 22, Accord 23, Negate
23, Tenure 25, $ l-ash 26, § Got 02, Fila 26, vote 28, ot

COMICS PAGE









“WHEN MR.WILSON SAYS ‘CUT THE BALONEY,’
(1S NOT BECAUSE HE WANTS A SANDWICH.”

THE TRIBUNE








OE COURSE | [ WOULD YOU STILL IONE
T 00, cALIN.| | ME IF TDD SOMETHING |

— =
WELL OF COURSE
w La. WOULD...

Bidding Quiz

You are South, neither side vul-
nerable. The bidding has been:
West North East South
1¢ 14 Pass ?

What would you bid with each of
the following five hands?

1. #A72 ¥ 1085 @ 63 & KQJ43
. © K984 Y AKS72 @ 53 & 74
- 2 QI Y KI94 @ 865 & KI82
. &A9643 ¥ K7 + 10 & KQ954
. © Q8 YAQ2 @ QJ9S & KQ83

ka

MBWhD

1. Two spades. An overcall on the
one-level is more often than not
based on a hand that would not qual-
ify as an opening bid. However,

‘since a simple overcall can contain
up to 16 or 17 points, game is not an
impossibility opposite the hand you
hold here, and this can best be
explored by raising spades.

It would be wrong to bid two clubs,
as this would deny support for
spades an¢d would normally be read
by partner as a corrective action.
Partner might very well pass two
clubs, which is unlikely to be in your
side’s best interests.

2. Three spades. This is a stronger
game try than two spades. However,



Target
uses: -
words in
the main
body of
Chambers
21st
Century
Dictionary
(1999
edition).

HOW many words of four letters
or more can you make from the
letters shown here? In making a
word, each letter may be used once
only. Each must contain the centre

- -letter’and there must be at least

one nine-letter word. No plurals.

. TODAY'S TARGET .

Good 18; very good 24; excellent 35
(or more). Solution tomorrow.



DOWN

1 Woman's
name (4)

2 Topics (6)

3 Overtes# (4)

4 Skin
pigrnent (7)

5 ~ Custom (5)

6 Yielded (5)

8 Fish (4)

3 Obtain (3}

12 Deceive (3}

13 Contract (5)
15 Insurgent (5)

18 = Corner (5!

19 Rodent (3)

20 Be seated (3!

21 Pleased (7)

22. Male (3)

23 Keep (6)

24 Dutch
cheese (4}

25) Warden ff)

26 Cuts (5)

27 Keen {5}

28 Staff (3)

30 Tatters (4}



the jump-raise is not forcing and

allows partner to pass if his overcall .

is of the minimum variety.

3. Two spades. It is very unusual
to raise parmer with only two
trumps, but here there is no better bid
available. To pass with 11 points and
a partial trump fit would show a thor-
ough lack of respect for partner’s
overcall, and to bid two clubs or two
hearts on a four-card suit is unthink-
able. North is entitled to some form
of encouragement, and two spades
comes closest to filling the bill.

4. Four spades. The odds strongly
favor making four spades, and that’s
a-good-enough reason for bidding it
straightaway. Opposite a typical one-

spade overcall, this hand is highly

unlikely to lose four tricks.

5. Three notrump. It would be
wrong to bid only two notrump,
which would permit partner to pass.
It is bad policy to merely invite a
game that you already know is an
odds-on favorite.

One way of estimating your
chances for game is to credit partner
with roughly 10 points for his over-
call, which would give. your side the
26 points normally needed for game.

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word
| plié

ballet bending
movement




Emil Sutovsky v Sergei
Dyachkov, Moscow Aeroflot
2007. Israel’s number four
Sutovsky is a former European

champion, with a big reputation

for imaginative attacks. But the
grandmaster seemed to have

overreached in today’s diagram, ;,

where the black king is under
siege but White's b5 bishop is
menaced by the a6 pawn with
its retreat barred by Black's
central pawn chain. Sutovsky
had seen further, and his next
turn kept an advantage which

led to rapid victory. What should

White play?






WEDNESDAY,
APR 23

AQUARIUS -— Jan 21/Feb 18
A slight altercation could get your
adrenaline pumping this week,
Aquarius. Take a short cool-down
period so you don’t say something
you’ ll regret later.

PISCES — Feb 19/March 20
Your enthusiasm is so attractive now
that you’ll find many who want w: be
your friend. Coritinue to focus on
being interested in others.

ARIES — March 21/April 20
You have set high standards for your-
self this week, Aries. The problem is
you feel like your life is on hold until
you reach these goals. Let a friend
guide you through.

TAURUS - April 21/May 21
There is no reason to wait to have fun
this week, Taurus. Start the weekend a
bit early. Socialize with friends on
Wednesday and let the party continue
through the remainder of,the week.

GEMINI — May 22/June 21
The feeling: that you must always
attend to someone else, putting your
needs last, is growing old. Make your-
self the priority this week and pamper
yourself. Indulge in’a gift just for you.
CANCER - June 22/July 22
Monday features a chaotic gathering
of people. Sagittarius is a key figure
at this gathering. Keep your cool and
romance may flourish when you
least expect it.

LEO - July 23/August 23

This week you may strike the perfect
balance between work, love, individ-
uality and family. This begins by
your Jetting go of the reigns and giv- .
ing someone else control. Bravo!

VIRGO — Aug 24/Sept 22
Expect Wednesday to be a hectic
day. Do your best to not spread your-
self thin. Make demands of your
loved ones to help out and take some
of the pressure off of you.

LIBRA - Sept 23/Oct 23
Conflict is a scary thing, not just for
you, but for others as well. Keep a
level head when a confrontation
arises on Thursday. You'll be the
voice of reason. ‘

SCORPIO - Oct 24/Nov 22

Salvage good ideas from a project
that has failed recently. You're no
quitter. so get back on the horse.
Enlist the help of a partner to pro-
vide a new perspective on the work.
SAGITTARIUS — Nov 23/Dec 21
You have a bevy of emotions stir-
ring this week, Sagittarius. Just
weed out the ones that are
counter-productive. Keep your
sense of humor and you'll make it.

CAPRICORN - Dec 22/Jan 20
Perfect opportunities come up for a
new romantic relationship. Expect a
close friend to become something
more. The magic may begin as early
as Tuesday.

CHESS by Leonard Barden



Chess solution 8359: | Be8! and if KxeS 2 Qxg7 RE 3

exf6 RI7 4 Qh8* regains the piece with advantage.
The game ended 1...Qd8 2 BhS Nbc6 3 ex{6 gxf6 4
Ng5! Qa5 5 0-0 £5 6 Oh4 and Black resigned faced
with Nxe6! and Of6+.





+ |! Raheem De- {College Hill: At jIron Ring (CC)
BET frog. [onsen |"

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|MSNBC [ij [im sonoe | SEMA De eee lem

| NICK

THE TRIBUNE
‘WEDNESDAY EVENING APRIL 23, 2008

7:30 | 8:00 | 8:30 | 9:00 | 9:30 | 10:00 | 10:30

Naa Zest ae SS)

- Wild Florida |Secrets of the Dead Violent rela- National Geographic's Strange Days on Planet Earth “Dangerous
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. Jeopardy! (N) |Wife Swap Woman eed whole- |Supernanny “Schrage Family’ Jo. /Men in Trees “Kiss and Don't Tel”
WPLG (cc) some life trades with a modern, li- Jencounters a couple with very un |Marin asks Jack if Cash can conva-
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HALL exas Ranger _|face his fears when he is blinded in |James Caan, Jeanne Tripplehorn. A British auctioneer’s fiancee:is a
1M (CC) an explosion. A (CC). gangster’s daughter.

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HGTV : Ray’ 1 (CC) :|House 0 Foc) Worth What? 0 |A gal was 0 fly ina The Camara fam-(N) ( (CC)
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Manchester United.
















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to go wild. ( q} 0 (CC) ‘

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WEDNESDAY, APRIL 23, 2008, PAGE 11B :

let Charlie the
Bahamian Puppet and
his sidekick Derek ut ay
some smiles on your Bg

kids’s faces.



Bring your:children to the

McHappy Hour at McDonald’s in

Malborough Street every Thursday

from 3:30pm to 4:30pm during the
month of April 2008.

Enjoy Great Food, Prizes and Lots of Fun

{T\

i'm lovin’ it





PAGE 12B, WEDNESDAY, APRIL 23, 2008 THE TRIBUNE



THE BAHAMAS Real Estate Association’s
2008-2009 elected executives and directors
are: (Seated, L to R) treasurer Virginia
Damianos, Damianos Sotheby's Interna-
tional Realty; past president Larry Roberts,
Bahamas Realty; president William V.
Wong, William Wong & Associates; vice-
president Lana Basalyga-Munnings, C.A.
Christie Real Estate; secretary James New-
bold, Neubs Investments. (Standing L to R)
directors Patricia Birch, Morley Realty;
George Damianos, Damianos Sotheby's
International Realty; Mike Lightbourn, Cold-
well Bankers/Mike Lightbourn Realty; Zach
Bonzcek, Paradise Realty; Anthony Wells,
Island Living; Tracey Barone, W.T. Lowes;
Sandra Evans, Sandra Evans Real Estate;
Sara Callender, New Providence Develop-
ment. Members not pictured are Cara
Christie of H.G. Christie; Theodore Sealy,,
Platinum Realty and Wendell Seymour,
Registrar.



Photos: Keith Parker/PS News/Features

Realtors elect
new executives





SKIN CARE & BEAUTY CENTRE

Skin Tone




WILLIAM WONG (left), shortly after his election as the Bahamas Real Estate Association’s (BREA) president
for the year 2008-2009, made a presentation to outgoing president Larry Roberts (right), who served from
2006 to 2008. Other elected officers and directors are vice-president Lana Basalyga; secretary, James
Newbold; and treasurer, Virginia Damianos. Directors are Tracey Barone, Patricia Birch, Steven Cartwright,
Wendy Johnson, Mike Lightbourn, Allan Murray, and Anthony Wells. Serving from 2007 through 2009 are —
Zack Bonzcek, Cara Christie, George Damianos, Sara Callender and Theodore Sealy.

oa =. | frdiGo

NAD | et Ae eae T WORK S
islands of New Providence, Grand Bahama, and Abaco. IndiGO is currently in search of a highly-

Nassau Airport
oe a -R E ) U
; qualified Manager of Network Services. Successful candidates will be highly energized, willing and

- O R p R O p O S A [- S able to take the challenges of a fast-paced network rollout.

MANAGER - NETWORK SERVICES




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Network Services is tasked with OA&M of a broad range of systems within the expanding Indigo
network. The manager is responsible for providing strong leadership for a group of IT personnel
oss: ree ge eS : _ || with varying disciplines and a range of technical experience. The principle objective of the Network
TWO Branded Specialty Coffee Outlets, § Nassau Airport as a world class airport; Services team is to provide highest system availability and reliability for all telecommunications and
one in the U.S. Departure Lounge and Internet related commercial services and products. .

one in the Domestic/International (c) offer food & beverage choices to

Terminal at Lynden Pindling passengers at reasonable prices; The Manager's secondary responsibilities will include budget preparation, project planning and
International Airport. The successful implementation, vendor management, carrier liaison, and implementation of technical projects
needed to meet business objectives.

Nassau Airport Development Company (b) offer a mix of concepts that will
Limited (NAD) is inviting proposals for help to enhance the image of the

Proponent will be required to finance, (d) offer a mix of local, regional and
design, develop, operate and manage national and international brand-name

- the branded specialty coffee outlets. °° Companies; Qualifications

Determined and independent, with 5 years previous IT management experience maintaining a
; service provider's network
L Proponents mustoeincerporated, _ _ {e} develop and. design food 6 Willing to work hands-on 7/24/365 to resolve network or system problems
. beverage facilities that complement University degree. CISSP,CCIE,MCSE or equivalent skills required
ii. Proponents must have at least two . the qualities of the current and Excellent verbal and written communications skills
(2) current locations similar to the new terminals while recognizing the Excellent troubleshooting and analytical skills

proposed operation at LPIA where distinctive spirit and character of the History of successful vendor management
Preferred to have already acted in a capacity as carrier liaison
Demonstrable experience with Cisco routers, switches (LAN and WAN)
naliistheiet tame th comecvivs iced Nene Knowledge of 2"? generation NLOS MMDS wireless systems and wireless backhaul reeiited:
Solid understanding of telecommunications circuits from DSO through DS3
Stet Flexibility to manage multiple cell sites and Operations Centers distributed across three islands
a Familiarity with MINDCTI billing system and associated AAA and DB
iii. At least two of the Proponent’s eS Hands-on security expertise - firewalls, VPNs, IDS/IPS
current locations must have generated Extensive knowledge of IP telephony (VoIP/VoN), Cisco BTS10200 softswitch, PSTN
gateways, SS7, QoS, SIP,H.323, MGCP
Expertise with typical ISP applications (DNS, radius, Rwhois, mail, network management/
SNMP, packet analyzers, etc)
oe Hands-on Unix (Sun and Linux) and Windows 2003 Admin
# goals and objectives are fo: || + Prior hands-on experience of 3 to 5 years with a Class 4/5 softswitch a necessity

the Proponent has operated similar community the airport serves; and
Branded Specialty Coffee facilities

at least $500,000 in average annual
gross sales in the last two (2) years.

aS) SEMI OMOEA eene Salary is commensurate with qualifications.
excellence and customer service; Apply to:

Attn.: Human Resources Manager
P.O. Box N-3920, Nassau, Bahamas





Full Text
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2 FOR YOU

HIGH
LOW

Co

Volume: 104 No.127

rails

INDEPENDENT MP Keny-
atta Gibson was injured when
his SUV left the road and
crashed through a fence in East
Bay Street last night.

The lawyer-politician suffered

facial cuts as his Ford Expedi- .

tion veered out of control near
the basketball courts. opposite
the Hammerheads bar.

Mr Gibson, a former PLP
parliamentarian, was badly
shaken in the crash and taken to
‘an upstairs room at the bar,
where he awaited medical
attention. —

A witness said: “He was real-
ly shaken and had cuts round
his face and forehead. However,
I think he is going to be okay.”

The MP-was resting in the

upstairs room while waiting for '

police to arrive at the scene.

The basketball court was full
of players when the crash
occurred, but bystanders said
no-one apart from Mr Gibson
himself was in danger as the
vehicle careered across a patch
of grass and through a green
chainlink fence.

One witness said a blow-out
in one of the vehicle’s front
tyres could have caused the MP
to lose control.

Mr Gibson, MP for Renner
was a controversial member of
the former PLP government,
having been involved in the

WEATHER

HAPPY MEAL jauicuor

S1F
68F

PARTLY
SUNNY










ANY







The Tribune

TIME...ANY PLACE, WE’RE #1







BAHAMAS EDITION

WEDNESDAY, APRIL 23, 2008

Gree
Into art

MP is injured
in car crash

Kenyatta Gibson’s SUV
crashes through fence

Kenyatta Gibson

infamous Cabinet Room brawl
with fellow MP Keod Smith.

Following the fracas, Mr Gib-
son was forced to resign from a
government post but retained
his parliamentary seat.

However, he later became
disenchanted with the leader-
ship style of former Prime Min-
ister Perry Christie and resigned
from the party, opting to serve
his Kennedy constituents.as an
independent.

Mr Gibson’s SUV suffered
front-end damage in last night’s
crash, with one wheel being bro-
ken from its axle.

a

AUTO INSURANCE

Never st

font

a. 0







contradictory

testimony in
Election Court
lm By BRENT DEAN

Tribune Staff Reporter

bdean@tribunemedia.net

TWO witnesses for Zhivargo
Laing gave contradictory testi-

mony on several occasions to °

the Election Court while on the
witness stand yesterday..
Rochelle Brown, a voter
being challenged by Pleasant
Bridgewater, told the court that
she lives at 21 Pioneer’s Loop,

which is in the Marco City con-

stituency. The witness said she
has lived at the residence for
seven years, and initially did so
with her boyfriend Leon Tay-
lor, her four children and his
mothef.

The court heard testimony
earlier in the case from PLP poll
captain Cabrena Adderley, who

. Said that Ms Brown lived at

Eight Mile Rock.
Ms Brown denied that she

’ lives there and also denied that

Mrs Adderley gave her a ride to
the bus stop in order to travel to
Eight Mile Rock several years
ago, as was Mrs Adderley’s tes-
timony.

SEE page 10



Felipé Major/Tribune staff

to Myers
sCoyboid ag

By ALISONLOWE .
Tribune Staff Reporter
alowe@tribunemedia.net









TWO Bahamian airlines
are forming a strategic alliance
_to become more competitive
and profitable in the face of
sky-high fuel prices. ,

Effective immediately Sky
Bahamas and Regional Air
will. be operating jointly to
help cut costs and buffer the
blows dealt to each bya tur-.
bulent world economy.

Sky Bahamas CEO Heuter
Rolle told The Tribune yes-
terday that his fuel costs have
increased by $10,000 a week
since October last year - from
$22,000 to $32,0000 - equiva-
lent to $40,000 a month.

With the “unwritten rule”
being that domestic airlines
cannot raise their ticket prices
above that of the national car-
rier, Bahamasair, or else risk
losing customers, airlines like
Sky Bahamas and Regional
Air “live with small margins”,
said the CEO.

When Bahamasair raised
fares in March, Sky Bahamas

SEE page 10





























ETA aE AE LS



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Andretti Bain qualifies
For Olympics

SEE NEWS SECTION PAGE 11



Kidney drug used
in the Bahamas
‘is banned in
Naar muNiiiey (act

A POPULAR drug used in The Bahamas by kidney patients to -
prevent blood clots has been banned in several countries, including,
Canada, after it was deemed “biologically contaminated” and
resulted in 81 deaths and hundreds of injuries in the United States
between November and February. Yet, as of 6.18pm last night, a
duty nurse at Princess Margaret Hospital confirmed that the drug
was being used despite the fact the American FDA (Food and —
Drug Administration) wrote letters stating it was "unsuitable for its

intended use”



The contaminated heparin has so far been found in Australia, ©

N etherlands and New Zealand.

~ Canada, China, Denmark, France, Germany, Italy, Japan, the

American health officials stated yesterday through several media
outlets that the contaminated blood thinner has been traced to 12
different Chinese companies involved in its manufacture. The ~
heparin was marketed by Baxter International Inc., of Deerfield,

SEE page 10

Known death toll in
boat accident. now at 14

@ By MEGAN REYNOLDS
Tribune Staff Reporter

THE body of a woman who —

drowned in the fatal boat acci-
dent near the Berry Islands on

- Saturday was brought into Nas-

sau harbour yesterday after-
noon, bringing the known death

ie toll to 14.

Around 25 people were
crammed on to the 20-25ft

-motorboat headed for Bimini
’ from Nassau when it started
taking water on board and sank. -

Three survivors, a Haitian
man and woman, and a Hon-
duran man, were found by res-
cue teams 15 miles off Nassau
on Saturday evening and are
assisting police with inquiries.

But the identity of the woman
brought in by the Royal
Bahamas Defence Force on
Tuesday afternoon, like the 13
others found, is unknown.

Chief Petty Officer Ralph

McKinney, of The Royal.

Bahamas Defence Force, said
the search will continue until all
of the passengers are recovered.

He said: “We are optimistic



THE BODY of the woman is
brought ashore yesterday.
Felipé Major/Tribune staff

of finding the others and bring-
ing them to shore for a proper
burial.

“These people may have fam-.
ily in New Providence and they

SEE page 10 .

Deputy PM denies he was
involved in company reportedly
scheduled for airport work

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

DEPUTY Prime Minister Brent Symonette denied accusations
yesterday that he was involved in a company that was reported to be
scheduled to pave the airport.and do additional road work in Mayagua-

na later this year.

Ata press conference yesterday dealing with matters relating to local
government, PLP MP for MICAL Alfred Gray claimed the proposed

SEE page 10

Excluding Sale Items
and Hosiery





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THE TRIBUNE

Gray claims Collie has

done nothing to advance
system left by the PLP

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

THE Minister of Local Gov-
ernment Sidney Collie has done
absolutely “nothing” during his
12 months in office to advance
the system left in place by the
PLP, the former minister Alfred
Gray charged yesterday.

Criticising an amendment that
the government proposes to move
today in the House of Assembly,
Mr Gray was joined by his, col-
leagues Dr Bernard Nottage,
Obie Wilchcombe, Fred Mitchell,
and Picewell Forbes at a press
conference at the office of the
leader of the opposition.

Describing the proposed
amendment as “minor”, Mr Gray
pointed out that it will only give
local councils outside of Freeport
the power to issue permits for the
construction of wooden docks not
exceeding 120 feet and which do
not require the excavation of
land.

“This is certainly not revolu-
tionary and one must ask the
question, if the government is
serious’ about local government
reform, why after almost 12
months in office, they have not
come with more significant leg-
islation?”

When asked what the current
minister has accomplished in the
past year, Mr Gray was quick to

’ respond, “nothing”.

“And I say that with the great-
est of respect, and if he can chal-
lenge me that he has done some-
thing I will withdraw my remarks
very quickly. But I have kept an
eye on the Local Government
Ministry and I cannot mention
one innovative step that they
have taken since becoming the

| governinent in 2007, to advance

the democratic process with the
system of local government which

‘is in place,” he said.

As the former minister of Local
Government, Mr Gray, who also
serves as the MP for the MICAL
constituency, said that it is impos-
sible to ignore the fact that in less

Alfred Gray

“than two weeks, the FNM will

mark a year of being in office as
the government of the Bahamas.

He said their legislative record
over this time has been “dismal”.

“Tt is clear they have no agen-
da. This amendment, while
deserving qualified support, clear-
ly shows that they have no agen-
da.

Opportunity

“However, we think that this
provides an opportunity to say
what we would-have done and
remind the public what we
pledged to do as a party. It is clear
that local government authorities
are hobbled by the inability to
allocate sufficient for the needs
of their districts. We think that
the time then has come to signif-
icantly increase the allocations to
local councils to meet some of the
major needs of the people in the
islands without recourse to the
authorities in Nassau.

“The local people are nearest

to the situation on the ground and -

there is therefore a need to go
much further than we have
already in the allocations of mon-



Snare

ey to local councils. This is a clear
call for more money for local gov-
ernment councils.

“I am further proposing that
the stipend which is presently
paid to the local government chief
councillors be increased from’
$400 to $600 and to all other
councillors from $75 — which is
totally inadequate — to $200 per
month,” Mr Gray said.

He also called for the govern-
ment to say when it proposes to
reveal plans for the implementa-
tion of local government in the
New Providence, pointing out
that the PLP promised in its
“Action Agenda” that if returned
to office, it would have done so by
now.

“Over the next few weeks, the
PLP will continue to speak out
in support of the issues that we
have raised here this morning.
We believe that the local govern-

- ment councils must not be a stag-

ing ground for the abuse of local
communities, taxation without
representation, responsibility .
without authority. We are com-
mitted to assisting local commu-
nities in their better governance...
and further development,” he
said. ,

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THE TRIBUNE







In brief

Man in court
on charge of

A 21-YEAR-OLD man
was arraigned in Magistrate’s
Court on an armed robbery
charge.

It is alleged that on Mon-
day, February 25, Kermit
Anwar Evans of Major Road
was armed with a handgun
and robbed an individual of
$28,000, the property of Flu-
id Night Club.

Evans, who was arraigned
before Magistrate Linda Vir-
gill at court nine in Nassau
Street, was not required to
plead to the armed robbery
charge.

He was remanded to Her
Majesty’s Prison and will
return to court on Friday for
a status hearing.

‘Woman in
hospital after

car skids off
the roat

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

A WOMAN is in hospi-
tal being treated for seri-
ous injuries after she lost
control of her car on a
West Grand Bahama
Road.

Cecile Williams, 28, of
Deadman’s Reef, is expect-
ed to be moved to the
Princess Margaret Hospital
in New Providence for fur-
ther medical treatment
after her car skidded off
the road, overturned sever-
al times and came to a halt
in some bushes.

Chief Superintendent of
Police Basil Rahming
reported that the accident °
took place near Bahama
Beach at around 9am on
Saturday. « _

Ms Williams was driving
her silver 2005 Nissan
Maxima heading west —
along the West End High-
way.

Mr Rahming said her car
skidded almost 400 feet
before crashing into the
bushes, and that the vehi-
cle appeared to have
flipped several times
before coming to rest
upsidedown.

He said the car was
totally demolished. ,

When paramedics
arrived on the scene, they
found Ms Williams lying
down in bushes a few feet
away from the wreckage.
She was conscious and
complaining of severe
pains.

The victim was rushed to
the Rand Memorial Hospi-
tal.

Mr Rahming said that
arrangements are being
made to have her airlifted
to Nassau.

The Eight Mile Rock
police are investigating the
accident. :

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LOCAL NEWS

Police Commissioner on Harl Taylor,
Thaddeus McDonald murders



@ By MEGAN REYNOLDS
Tribune Staff Reporter

THE fruitless investigation into
November's double murder
requires more time and patience,
maintains Police Commissioner
Reginald Ferguson, refuting
claims the enquiry has been
foiled.

The frenzied, violent attacks
on Harl Taylor and Thaddeus
McDonald took place within days
of each other in November last
‘year, and the five month investi-
gation has failed to produce con-
crete evidence.

Although Mr Ferguson main-
tains several people have been
interviewed, they have nothing
"tangible" and no arrests have
been made.

He added: "I would like noth-
ing more than to arraign some-
body.

"We saw how they were bru-
talised and how their lives ended,
and the perpetrators are still out
there; that is definitely a major
concern.




terday.

Former assistant policé commission-
er Paul Thompson said it was the only
way that police could be sure of getting
certain people on oath in the witness-

box.

homosexuals last November.

action.

be summoned to appear.



fearing exposure.

But he said his team were confident of capturing the culprit. All
they needed was a “breakthrough” with information from the
public to match their “very good” forensic evidence.

ETM UM ts mS
ito be called into murders

AN INQUEST needs to be called
into the Harl Taylor and Thaddeus
McDonald murders to “flush out” reluc-
tant gay witnesses, it was claimed yes-

His comments came as public disqui-
et grew over the police’s failure to make {
an arrest in connection with the brutal
murders of the two prominent Nassau

Bishop Simeon Hall of New Covenant Baptist Ghurch claimed
this week that he had been threatened after calling for a police
“update” on inquiries. Fathers’ rights campaigner Clever Dun-
combe urged him to disregard the warnings and keep pressing for

Now Mr Thompson has stepped into the debate, urging that an
inquest be called so that known gay associates of the two men can

“Anyone who was at a party attended by the two men shortly
before their deaths could be called to give evidence,” he said.

“Police could then put them in the box on oath and have a bet-
ter chance of getting at the truth. I think an inquest is a way for-
ward to deal with those people who have joined together to
deny police information. At an inquest, you expose them to the
public and.make them face questions.”

Asst Supt Leon Bethel, who is leading the investigation, has
claimed that covert gays are reluctant to talk about the killings,

"We are exhausting all avenues
and trying to do all we can to
bring it to closure, but we cannot
get frustrated.

"One of the key elements in
investigations is patience and we
have got to do a whole lot of
exploration and take time." |

But suspicion is brewing in the
Nassau community, as prominent
Baptist Bishop Simeon Hall voic-
es public concerns that people in
power are impeding the investi-
gation.

He said: "I am pushing for jus-
tice to be done, and I am con-
cerned that there are people in
influential positions who know
more than we are being told and
are frustrating police in their
efforts.

"How can we move forward in
the climate of crime when peo-
ple believe justice is being thwart-
ed? Whether it is true or not, it is
a very dangerous belief."

Assistant Superintendent Leon
Bethel maintains police inquiries
have not been impeded, and
detectives are confident they will


































Harl Taylor

Ministry monitoring malaria
situation on Great Exuma

THE Ministry of Tourism
says that it is monitoring the
situation on Great Exuma with

- regard to the new malaria out-

break and is keeping abreast

_of the efforts of the Ministry

of Health and the Department
of Environmental Health Ser-
vices.

“In this current circum-

stance, the Ministry of Tourism -

will support all authorities and
will work, as appropriate, with
media to encourage the accu-
rate and factual reporting of
the story,” said the ministry in
a statement.

It noted that both Bahamian



authorities and the US Centre
for Disease Control (CDC)
have stated that there is no
threat to those vacationing on
Nassau, Paradise Island, Grand
Bahama, Abaco, Andros,

- Bimini, Eleuthera, Harbour

Island or any other island.

It said the warnings are con-
fined to Great Exuma, where
the CDC described the risk as
“low-level”.

“The CDC travel advisory
for Great Exuma recommends
that visitors take chloroquine
malaria preventive medication

(prophylaxis),” the statement.

said.

1c Queén Post Bed
i Bila



Reginald Ferguson

bring the murderer to justice.

Good forensic evidence gath-
ered at both crime scenes now
needs the back up of witnesses, he
said.

Thaddeus McDonald was
attacked with an iron in his
Queen Street home on November
16, 2007, and two days later Harl
Taylor, a handbag designer, was
stabbed to death at his office in
Mountbatten House, West Hill
Street.

It has been alleged that the two

men were in a homosexual rela-

tionship. :

- Fathei's rights campaigner
Clever Duncombe insists the law
should not demonstrate, "differ-
ent strokes for different folks"

_ and supports Bishop Hall's con-
_tinuing call for justice. “3
“He said>"If-we don't address «=~

this issue and keep it before the
public eye, it will go cold like oth-
er high profile gay murders."

Bishop Hall, an old school
friend of Mr McDonald, insists
he will not be frightened into
silence by threatening phone calls
received at the weekend.

He said: "I will protect my fam-

‘ily to the bitter end but no effem-

inate voice on the telephone
cussing me out can deter me from
doing my work."

Any information which could:

assist investigations should be
reported to Bahamas Police on
322- 2561 or call Crimestoppers
anonymously on 328-8477.

THE PRITCHARD DE

Double murder investigation
nou ‘requires more time, patience’

at

f

/VIAISON DECOR
Sane :

Pe

&



Limited

Nassau’s Premier Store

WEDNESDAY, APRIL 23, 2008, PAGE 3



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For Mother’s Day

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Telephone: (242) 362-6527, Fax: (242) 326-9953



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Leslie Vanderpool will be offering Audition and On
Camera classes.

LESLIE VANDERPOOL

P.O. Box N-121, Nassau, N.P., Bahamas
email:info@colesofnassau.com



WEEKEND

Discover ways to enjoy your self on stage or on film and
your audience will in return enjoy you.

Where:

Bahamas International Film Festival office

4° Terrace East Collins Ave
Building 10, 1° floor

RSVP A MUST: 356-5939

4 weeks classes

Individual classes charge of

$300.00
$40.00

* Class size 12 people, therefore please be one of the first to register




PAGE 4, WEDNESDAY, APRIL 23, 2008 THE TRIBUNE

EDITORIAL/LETTERS TO THE EDITOR

Customs >
and Mona










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

TELEPHONES

Publisher/Editor 1972-

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





THE removal of Leon Williams as
chief executive of the Bahamas
Telecommunications Company could
be a significant step towards privatisa-
tion, which Prime Minister Hubert
Ingraham has set his sights on by the
end of this year. |

It might also signal moves to end the
“government corporation” culture,
which became particularly discredited
during the Pindling years, when over-
staffing and poor service were the
norm, with customers figuring very low
in the priority scale.

Mr Williams,.who during his short
tenure in the top post oversaw a period
of record profitability, admittedly ina
monopoly situation, seemingly suffered
nonetheless from perception.

He was forever associated with for-
mer Works Minister Bradley Roberts
and, more importantly, with dogged
resistance to the privatisation process.

Unhappily for him, he was obliged to
carry the burdens of the past on his
managerial shoulders and was called
upon to pay the price.

For 10 long years, the company’s °

future has been debated with a view to
eventual privatisation.

Throughout that time it was the cus-
tomer who suffered, largely from high-
priced overseas.calls, poor service and
a less-than-perfect BTC cellular phone
service, with its ‘dead spots’ and
dropped calls. Cursing the company was
an almost daily occurrence for some
people. ;

Many BTC customers have long since
abandoned its expensive overseas calls
service, opting instead for computer-
linked communications like Skype and
a variety of call-back services based in
the United States.

It was the quality issue, in fact, that
became the prime motivator in the
move to unseat Mr Williams from the
top job. The BTC board felt account-
ability was lacking, and that the com-
pany was falling short in key areas with
no prospect of improvement. ;

Observers now believe Mr Williams’
departure must be accompanied by a
new impetus in the privatisation



Freeport fax: (242) 352-9348

Ringing the changes at BTC |

Quality Auto Sales
PRE-OWNED |

process, and a determination to open
the market to the kind of competition
that will ultimately benefit phone-users.

At the moment, they claim, the
Bahamas is poorly served in the com-

‘munications field, especially for a coun-

try so dependent on tourism, banking
and other international industries.

In so many ways, they argue, the
country is lagging in the one area where
it needs to be a front-runner, largely
for its own survival.

The old Bahamas Telecommunica-
tions Corporation, like other govern-
ment corporations, was impeded by a
culture of slackness, overmanning and
all-round inefficiency.

For years, the PLP government, in
particular, stuck entire battalions of
otherwise useless placemen on corpo-
ration payrolls to get them off the

streets and guarantee their support at

the polls.

In the process, the word ‘corporation’
became anathema to everyone in the
private sector, who felt they were being

‘called upon to subsidise the incompe-

tence of organisations which fell far
short of their own much more exacting
standards.

BTC’s move from ‘corporation’ to
‘company’ status marked a shift in
image and emphasis.

From being a blue-collar, engineer-
ing-led organisation it became more of
a white-collar marketing-led enterprise
with new stress on salesmanship and
promotion.

Even so, lack of competition blunted
its edge, prevented it from performing
at an optimum level, and left it vulner-
able to the kind of shake-up experi-
enced this week.

Mr Williams’ removal will have sur-.
_prised some people, but not those who

felt decisive action was long overdue.
They will see this decision as a crucial

step towards the inevitable: a privati- .

sation exercise in which BTC will
become more relevant to the age we
live in, and a communications market in
which competition can provide the
quality of service we all have a right to
expect.













Vie drink

EDITOR, The Tribune.

IF ZHIVARGO Laing

and/or Hubert Ingraham did,
indeed, direct the Comptroller

of Customs to reduce the rate |
. of customs duty on the prod-

uct known as “Brazilian Mona
Vie berry drink,” being
imported into the Bahamas,
to 10 per cent from the 45 per
cent being levied presently,
then in my opinion they are
both wrong and, in my view,
in breach of the Customs
management/regulations acts.
PLP Member of Parliament,
Mr Frank Smith, in parlia-
ment on Wednesday, Febru-
ary 13th, questioned Laing
about his role in this matter

‘and was only able to get him

to admit that his sister-in-law
did, in fact, have some con-
cerns with the customs depart-
ment, on the question of
which rate of duty was the
correct rate and which was
not. Laing did promise that a
statement, as to his role. He
said enough, however, to con-
vince me that he might possi-
bly have interferred in the
day-to-day operations at the
Customs Department.

My profession as a Customs
broker/ship’s agent/freight
forwarder and former customs
officer, with more combined
years of,theoretical and prac-
tical experience in the busi-
ness, than most in my field in
the country presently, quali-
fies me to speak authorita-
tively on this subject.

The Bahamas became an
independent nation in 1973,
and became a member of the
United Nations shortly, there-
after. As a member of the
League of Nations, we signed
on to a number of Interna-
tional Conventions and
Agreements and became a
recipient of many benefits
provided by the UN. Through
the UN, in 1975, we adopted
“The Brussels Nomenclature”
system, which helped us to
accurately code all imports
and exports to and from the
Bahamas. This necessitated
the UN sending personnel,
qualified in the field, to train
all of us customs officers, on
how to use the new coding
system. I was a 12-year veter-
an customs officer in 1975 and
remember, well, the excite-
ment of finally getting a sys-
tem that made sense. We
spent six weeks in the class-
room, learning how to inter-
pret and apply the system,

effectively. We became a

member of an elite group of
105 countries adopting the

OMe

letters@tribunemedia.net






Nomenclature at the time we
did in 1975.

The “Brussels Nomencla-
ture” was designed to enable
the customs department to
ensure that imports were cat-
egorized accurately and then
the corresponding, proper,
rate of duty applied without
fear or favour; in other words
the system eliminated the
guessing game for customs
officers, because the answers
were all there in the book. It
came with 99 chapters/head-
ings, numerous sub-headings
and a five-book set of
explanatory notes.

When we classify an item,
there are three options avail-
able to us; first of all we must
determine if the item is actu-

- ally listed in the tariff by its

everyday name. For instance
if you have an invoice for
fresh beef you will go to chap-
ter 02 and heading 02.01,
(hope my memory serves me
correctly), then there are sev-
eral sub-headings from which
you must choose the correct
one, depending on whether
the beef is bone in, boneless
or other. If an item cannot be
found in the tariff by its every-
day description, as in the case
of beef, then we try to classify
it according to its use and if
that doesn’t work, we resort
to the material it is made
from.

I am confident that the cus-
toms department has on staff,
well-qualified personnel who
are able to determine the clas-

' sification of anything being

imported into the country,
using the information and
materials available to them. I
am certainly of the opinion
that there would be absolute-
ly no need for them to refer a
common product like this
“Mona Vie Berry drink” to
the International customs
cooperation council for a
determination as to its tariff
heading. I’ll tell you a story.
One:of my clients telephoned
me one day, a few months
ago, to say that her sister-in-
law was about to sue the cus-
toms department because they
changed the rate of duty on
this drink from 10 per cent to
45 per cent. My client wanted
my opinion on the matter,
before. her sister-in-law took
any further action. I asked my
client to bring me a bottle of
the product, and I would
advise her correctly. After
reading the label and seeing
what ingredients were in this
drink, I advised my client that

the customs department was
correct in its determination
that “Mona Vie berry drink”
was a fruit drink classified
under tariff sub-heading
2202.9040 which attracted the
rate of 45 per cent and that it
was not a fruit juice (for cus-
toms purposes) as classified
under tariff sub-heading
2009.9090 which attracted the
rate of 10 per cent duty. This
was disappointing: to her but it
was the truth. According to
the contents and our system
of classifying these products, it
is a fruit drink and not a fruit
juice; there is a difference.

For the information of the
general public and for easy
reference, permit me to
reprint excerpts from the
explanatory notes to each of
these tariff headings and you
be the judge:

For heading 2009.9090

“The fruit and vegetable
juices of this heading are gen-
erally obtained by pressing
fresh, healthy and ripe fruits
and vegetables...the liquids
thus obtained are then gener-
ally submitted to certain
processes; ‘clarification’ to
separate the juice from most
of the solids; ‘Filtration’ often
by means of filter plates; ‘De-
aeration’ to eliminate oxygen’
which would spoil the colour
and flavour. ‘Sterilisation’ to
prevent fermentation. Provid-
ed that they retain their orig-’
inal character, certain other
substances may be added to
preserve the juice or to pre-

vent fermentation; sugar may °

also be added.”
For heading 2202.9040

.:,{Non,alcoholic beverages,

including . lemonade,
orangeéade, etc, flavoured with
fruit juices or essences, or
compound extracts, etc, etc
generally imported in well
stoppered bottles. Citric or
tartaric acid is sometimes
added and they are often aer-
ated with carbon dioxide gas-
es.” °

We shouldn’t miss the most
important point here, and that
is that for a juice to remain a
real juice, any process it
undergoes and/or any addi-
tives to it shouldn’t change its
character. If a product is only
juice flavoured it is not a juice
as defined in the customs tar-
iff?

Clearly this product in ques-
tion is a fruit drink and should
be classified, as ruled by the
comptroller of customs, under
heading 2202.9040, attracting
the duty rate of 45 per cent.

FORRESTER J
CARROLL JP
Freeport,

Grand Bahama,
February 18, 2008.










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ATT: GENERAL MANAGER

Why does Senator John
McCain need all this help?

EDITOR, The Tribune.

IT IS a pity that the Obahma-Rev Wright article has only now
been published. I have been seeking information on the dates of the
much publicised sound bites from sermons by Rev Wright as well
as the entire sermons and any others which could be compared with
the three which have been reviewed.

As you are, no doubt, aware, it was\Sean Hannity of Fox News
who started this whole controversy in order to give Senator McCain
time to move ahead in the polls and also to benefit Hillary Clinton
as the front runner for the Democrats. Then the rest of the people
at Fox News joined in until it was suitably taken up by other news
organisations. °

I wanted this information to confront Bill O’Reilly of “The Fac-
tor” as well as CNN.

They have criticised Senator Obama that (1) he sat and listened
to these sermons for over 20 years (untrue) and did nothing; (2) he
subjected his children to such preaching by Rev Wright.

I still hope that this information can be given to Fox News and
CNN, although the damage has been done. However, all those
thousands of people affected, who blindly believed the nightly
shows might see how they have been duped by Fox News person-
nel and other media outlets.

At this date, however, they are pursuing another tactic of mis-
construing Senator Obama’s words. Rush Limbaugh on his show
actually asked people to vote against Senator Obama and instead
vote for Hillary in the Texas and Ohio primaries to block Obama’s
progress.

Then he proclaimed that his trick was working.

My question is why does Senator McCain need all this help
from Fox News. Why cannot his headquarters staff manage his own
campaign?

INTERESTED
SUBSCRIBER
Nassau,

April, 2008.
THE TRIBUNE



WEDNESDAY, APRIL 23, 2008, PAGE 5







Volunteers
join MP in
beach clean-up

A TEAM of public and
private sector volunteers
joined Eight Mile Rock
MP Vernae Grant to clean
up a Grand Bahama Beach
over the weekend.

The Ministry of Tourism,

the Urban Renewal Live-
able Neighbourhood Pro-
gramme, the Grand
Bahama Port Authority,
the Sanitation Services and
the Eight Mile Rock High
School were all represent-
ed.

The clean-up began in
Lovers Beach in Hepburn
Town and ended in Sunset
Village.

Designer work
to gO on sow at
Marina Village

WORK by designer Jesha
Fritz of Elements Enterprise
will be on show at Doonga-
lik Studios, Marina Village,
Paradise Island, from this
Friday until May 2.

@ ST ANNBP’S Parent-
Teacher Association is hold-
ing a spring fair and steak-
out in the school grounds on
Saturday. Hoopla, rock-
climbing, a dunking booth
and bookstall are among the
attractions.

Fifteen monkeys
escape from
Florida facility

@ LAKELAND, Fla. _

WILDLIFE officials say
a pack of 15 monkeys are
on the loose after escaping
a facility in Polk County,
according to Associated
Press.

Conservation Commission

- spokesman Gary Morse
says the monkeys appar-
ently escaped their island
home by swimming across
a pond — something
they’re not supposed to be
able to do.

Morse says several teams
are out looking for the
social but docile Patas
monkeys, and that they are
“absolutely no threat to
people.”

The 11 adults and four |
juveniles are the personal
pets of Lex Salisbury, the ~
CEO of Lowry Park Zoo
in Tampa.

Fatal small
plane crash
blamed on
canopy probiem

mj LAKELAND, Fla.

THE National Trans-
portation Safety Board is
reporting that a pilot had
trouble closing the cockpit
canopy before his small
plane crashed into a cen-
tral Florida cow pasture,
according to Associated
Press.

Gerard Schkolnik of
Bluffton, South Carolina,
died April 13 when his
2006 single-engine, two-
seat Lancair Legacy
crashed just west of Lake-
land Linder Regional Air-
port. He was the only per-
son on board.

According to a prelimi-
nary NTSB report, wit-
nesses saw Schkolnik
pushing the canopy up
and down about 6 to 12
inches as the plane
climbed during takeoff.
Witnesses also said the
engine lost power shortly
afterward, though the
plane continued flying
straight and the pilot did
not turn back to the run-
way.

Officials say the plane
then turned nose down
and its left wing dropped
before crashing.

ta Ha
AUS

FOR PEST PROBLEMS
PHONE: 322-2157



Florida Fish and Wildlife *

CARICOM steps up its

relief efforts

Brent Symonette

Cuba shows journalists
hurricane defence

_ By ALISON LOWE

Tribune Staff Reporter
alowe@tribunemedia.net

JOURNALISTS from across
the region were informed last
week about Cuba’s experience
in using early warnings and risk
reduction measures to minimise
the damage to people and prop-
erty in the face of major storms
and hurricanes.

Director of Cuba’s National
Forecasting Centre in the Insti-
tute of Metereology Dr Jose
Rubiera said that the country
acts on the basis that the scale
of any disaster depends on “the
vulnerabilities that exist in soci-
ety” and with appropriate mea-
sures, even the highest category
storm can be managed.

' “Tn Cuba, the issue of disaster
is measured by the capacity to
respond,” Dr Rubiera told

- those gathered at a three day

workshop on hurricane cover-
age.

The National Forecasting
Centre, the Cuban media and
the Civil Defence department
have long been working togeth-
er to raise the population’s dis-
aster preparedness level.

Asa result, they have man-
aged to keep hurricane and
storm-related fatalities to a min-
imum among the 11 million
population.

Recent major hurricanes such
as Michelle and Charley result-
ed in only single digit deaths,

and the Cuban strategy — which

‘puts saving lives at the forefront
— has been praised by bodies
such as Oxfam and the Red
Cross.

According to a Civil Defence

official, the government’s strat-:

egy focuses on instilling a cul-
ture of readyness within the
population.

Cubans are continuously edu-
cated in school and later, the



«

workplace about what to do in -

the. event of a storm. As with

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

CARICOM has mobilised efforts to
extend relief to Haiti in the midst of the
country's devastating food crisis and
protests over high food costs, according to
international reports.

On Monday, the CARICOM Secretari-
at was reported to have moved forward
with plans to mobilise financial and human-
itarian aid for Haiti, in consultation with
CARICOM members.

International reports said Secretariat offi-
cials confirmed that about $10 million is
anticipated to be approved for release from
CARICOM’s Trinidad and Tobago-facili-
tated Petroleum Fund in a combination of
short-term charitable assistance and aid to
agriculture development to bolster food
production.

Yesterday Minister of Foreign Affairs
and Deputy Prime Minister Brent Symon-
ette said CARICOM is “looking at the a

the country’s healthcare system,
the programme is based on the
principle that prevention trumps
reaction.

“A category five hurricane is
called ‘catastrophic’ but it does
not have to be if you do what
you have to do. We think it can
be avoided by promoting
awareness and making. sure
people do the right things,” said
Dr Rubiera.

At present the government
continues to carry out a “block
by block, house by house”
assessment of the vulnerabili-
ties that exist in each neigh-
bourhood said Vice Minister of
the Ministry of Science, Tech-
nology and Environmental
media, Dr Jose Antonio Diaz
Duque.

The information, which is
computerised, helps Civil
Defence to carry out required
infrastructural upgrades and pri-
oritise their disaster response
action.

Evacuations

Meanwhile, Cubans are pre-

‘pared for mandatory evacua-
tions if the government deems

such a move appropriate. Local
neighbourhood watch groups
work in conjunction with those
in the Civil Defence headquar-
ters to co-ordinate action. .

Dr Rubiera highlighted a
mid-1990s shift in the manner

in which the Cuban metereo- .

logical centre publicised its fore-
casts as playing a‘major role in
the success of the country’s risk
reduction strategy.

The organisation shifted its
approach towards providing
early warnings, starting three to
five days in advance of hurri-

canes, in language that is not

technical but simple and
localised for various regions.
These warnings appear in

stages — “informative”, “alert” .

and “alarm” — each entailing

Reem eT ST

is Conducting

British Colonial Hilton
on Wednesday, April 23rd, 2008

Travailing In Prayer
starts 5 - 6pm

ALL HURTING
PEOPLE CAN ATTEND

Where All Will Be Blessed



the provision of more frequent
and detailed information as the
hurricane advances.

According to Dr Rubiera —
who criticised some media for
“sensationalising” hurricane
coverage — the centre aims to
create an appropriate sense of
danger but not panic.

He added that Caribbean
countries should not rely too
heavily on US forecasters’ pre-
dictions for the region but be
responsible for the area under
their sovereignty.

“In many of these countries
they have a special interest in
announcing something that
comes from abroad...
the most important,

©2008 CreativeRelations.net

RIGHT: A Civil Defence official
greets media at the entrance of
the department’s National

COMMONWEALTH BANK

or

uation and will make a determination in
due course".

Antoine Ferrier, a Haitian Bahamian
photographer who has lived in the Bahamas
for the past 44 years, said while financial
and food assistance is needed in the strife-
ridden country, greater emphasis needs to
be placed on helping Haiti to become more
self-reliant.

Crisis

“The food crisis is worldwide, coming.

from the cost of energy. And in Haiti peo-
ple use wood to burn for food cooking. So
what happens when you use al the wood,
where do they turn?

“This is a huge problem ‘ind they need
relief but, you've got to show a man how to
fish instead of giving him a fish. If you give
them a fish they will always need a fish.
Education, that's what they need so they
could learn to sustain themselves, but the
problem for them right now is energy. They

as if it is
” he said.

‘Headquarters.



Hatti

don’t have the money to buy the energy
they need".

Mr Ferrier said the Haitian government
should mirror policies in the Bahamas and
create price controls on basic food items:

"Here in the Bahamas you have a gov-
ernment that has price control on bread-
basket items, and I think that's what the
government should do in Haiti. You cannot -
tax people who don't have any money.
That's very sad and embarrassing.”

A week after Haitian Prime Minister

. Jacques Edouard Alexis visited the Bahamas,

he was voted out of parliament after deadly
protests over the rising cost of food.

Riots over food shortages and high food
costs broke out on April 3 in southern Haiti.
The protests spread to the capital of Port-
au-Prince and left seven dead before wan-
ing in mid-April.

Last week, Prime Minister Hubert Ingra-
ham — the current chairman of CARICOM
— said that member states were in "discus-
sion" with Haitian President Rene Preval
about advancing funds to the nation.





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press in front of a
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hurricane trajec-
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hurricanes a
committee of
senior officials
gathers in the
department's
headquarters to
co-ordinate the
response.

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PAGE 6, WEDNESDAY, APRIL 23, 2008 THE TRIBUNE



Cuba replaces its
education minister

@ HAVANA







CUBA has replaced its education minister in the first Cabi-

net change since Raul Castro assumed the presidency two
months ago, the official newspaper announced Tuesday,
accor ding to Associated Press.

Castro has suggested that a major Cabinet shake up is
expected later this year to streamline the government by elimi-
nating ministries that duplicate tasks.

The new education minister is Ana Elsa Velazquez, rector of
the government’s Frank Pais Garcia Institute of Advanced
Teaching Studies in the eastern city of Santiago, the Commu-
nist Party newspaper Granma said.

She replaces Luis Ignacio Gomez Gutierrez.

New ministers already have been appointed for justice,
transportation and communications since Castro became
Cuba’s provisional leader in 2006, and there is a new Cabinet-
level head of the water resources institute.

Raul’s brother Fidel Castro announced in July 2006 he had
undergone emergency intestinal surgery.

Raul Castro assumed the presidency Feb. 24.














Keith Parker, P.S. News/Features

| IN THE last round, Simone defeated finalists from New Providence,
Berry Islands, Cat Island, Andros and Exuma. VE Cio); Mos! s College, placed second overall

Grand Bahama student senior
is crowned Young Chef 2008

SIMONE BETHEL of the

Jack Hayward High School
Grand Bahama emerged as
the winner of the 16th Annu-
al Young Chef contest.
_ This is the second succes-
sive year that the prestigious
title has been won by a stu-
dent from the Jack Hayward
High School. The 2007 win-
ner was Mervalette Dean.
Both students were coached
by home economics teacher
Katrina Hodges.

In winning the 2008 overall
senior championship, Simone
scored 454 points for her
Robin Hood Flour dish,
"Bahamian Samosa with





Analia's mn Rice Medley

points for "Passion Fruit

: Puffs" and 397 points for
Loquat and Tamarind Chut- ;, on Po:
ney" and 425 points for her Analia's Lobster Rice Med-

Mahatma Rice dish soe sa seh
"Lucayan Indian Rice". EB ae a yo went to
Placing second overall was manuella Gelin of C C

: \ Sweeting Senior High
Analia Lyons of Queen's 8 8
College, who scored 479 School, who earned 400
points for "Coconut Jasmine

Rice with Conch, Crab and
Plantain Ragout" and 459
points for her "Sapodilla

S an [PD i Nn M otors Ltd. Pudding with Fruit Coulis".

Ashley Smith of North Long

Your || Island High School was
fourth with a total of 819

points.

The championship, spon-

Pp re-Own ed sored by Makati Rice aid
‘ Robin Hood Flour, is organ-

ised by the Ministry of Edu-

‘ cation and P S Advertising

and Public. Relations.
Around 140 students from

throughout the islands are jygnasiaH DAMES of L W Young Junior High School, was the

involved each year. junior champion
a
In brief

Russian news
agency says
Soyuz crew
was in danger
on descent

m@ MOSCOW

'







THE crew of the Soyuz
space capsule that landed hun-
dreds of miles off target in
Kazakhstan was in serious dan-
ger during the descent, a Russ-
ian news agency reported
Tuesday, according to Associ-
ated Press.

Interfax quoted an unidenti-
fied Russian space official as
saying the capsule entered

* Earth’s atmosphere Saturday
| | E | | () L E with the hatch first instead of
its heat shield leading the way.

As a result, the hatch sustained

W significant damage.
@) MAN The official said a valve that
equalizes pressure within the
TMA-11 capsule with the out-
side also was damaged.
In addition, the capsule’s
antenna burned up, meaning

Coming to ZNS TV 1 3; the crew couldn’t communicate

properly with Russian Mission

April 22 at 9:30pm, Control, the Official said.

Interfax said another official

with reruns on at the Baikonur launch site in
. Kazakhstan re od that th
Thursday, April 24 at 9:30pm Oe muir enceeaine <







ey
25 wea "eae check out our HUGE
<®* inventory of Pre-owed SUVs,



Setlans, van, huses etc. and again on Soiree mio
Sunday, April 27 at 5pm. ans Russian searchers to
e site.

The Soyuz crew included

- Thompson Blvd. |
Tel: 325-0881 - _.___To advertise please call Whitson South Koreas fest

astronaut, Yi So-yeon, and

Fax: 325-0883 ; (394.2254 bag Suet ee Yuri


THE TRIBUNE



Kerzner International
partners with government
and private sector for
Western Esplanade facelift

KERZNER International has
joined forces with the government
and various private. sector enter-
prises including the Rotary Club
of Nassau to conduct a major
facelift to the Western Esplanade
area on West Bay Street.

The area, which is a popular
tourist attraction and hot spot for
residents, will be transformed into
a “beautiful green space with
proper landscaping, drainage and
parking facilities,” it was
promised yesterday. The entire |»
beach along that strip is to be |
cleaned as well.

Kerzner International’s presi-
dent and managing director
George Markantonis, Minister of
Public Works and Transport Dr
Earl Deveaux and Bill Thomson,
first trustee of the Bahamas
Rotary Club of Nassau, under-
took a walkabout of the area last
week along with other stake-
holders.

According to Kerzner Interna-
tional officials, phase one of the
upgrade will be completed by the
end of next month.

Much of the work will be con-
ducted by Enviroscape, which has
assisted Kerzner International in
upgrading a number of green
spaces across New Providence
including Montagu Park.

Aubrey Kemp, president of
Enviroscape said, “We always
strive to reach (Kerzner Interna-
tional’s) goals to improve our
country especially in the area of
green spaces.

“We would like to see a lot
more spaces developed in the’
same fashion.”





:

Neko Grant.



KERZNER’S PUBLIC affairs VP Ed Fields, at centre, points to some of the
work in progress at the Western Esplanade. Also pictured, from left to
right, is Niels Jensen of the Clipper Group Management Limited, Kerzner
International’s president and managing director George Markantonis, Bill
Thomson, First Trustee of the Bahamas Rotary Club of Nassau; Minister
of Public Works Dr Earl Deveaux and Robert Garraway, civil engineer
‘with Ministry of Public Works and Transport.

SAMMY THURSTON shows some of his Bahamian art and craft items to Minister of Tourism and Aviation

KERZNER INTERNATIONAL’S
president and. managing director
George Markantonis greets the
Minister of Public Works and
Transport Dr Earl Deveaux during a
walk along the Western Esplanade.
Also pictured from left to right is
Aubrey Kemp, president of Envi-
roscape; Robert Garraway, civil
engineer with Ministry of Public
Works and Transport; Dean Spy-
challa, general manager of the Nas-
sau Palm Hotel and Kerzner VP for
public affairs; Ed Fields.

Resort forges links with ©
manufacturing, agriculture

DESPITE the daunting challenges of run-
ning a boutique hotel in Cat Island, Sammy
T’s Resort has not only evolved into a thriving
business but also established important link-
ages with local manufacturers and farmers to
boost the island’s economy.

“What we have tried to do here on the
island is create our own cluster,” said resort
owner Samuel Keith Thurston. “I know that in
order for me to operate here, I need the help
of a lot of the locals — the fishermen, the farm-
ers, even the taxi drivers. So I have been try-
ing to pull it all together and utilise as much of
the resources that I can find here on the island
before I go off to Nassau to bring them in.”

Meals

A stay at Sammy T’s includes meals pre-
pared for the most part with Bahamian-grown
produce, fish and shell fish caught by local
fishermen, and Oasis Water, which is bottled
in Cat Island.

Dinner is accompanied by the music of
Bahamians such as Cynthia Strachan — a jazz,
blues and pop singer who hails from the Dum-
fries settlement.

Sammy T’s presence for the past five years,
and the resorts’ eagerness to source Bahami-
an products has had a noticeable effect on
the island’s industry, locals say.

“It has encouraged some farmers to grow
more stuff,” Mr Thurston said. “Some of the
fishermen go out more often than they would
have gone. So we have got a conch man, we
have a grouper man. I sort of branch out and
give everybody a little bit.”

Daniel King is one of the farmers that con-
ducts heavy business with Sammy T’s.

Customer

Mr King, who operates seven acres of farm
land which he calls King Farm, pointed out
that Sammy T’s is his single biggest customer.

He also provides vegetables for Orange
Creek Inn, Fernandez Bay Resort and Green-
wood Resort.

Second home owners have also been a large
part of the business. King Farm has been
able to supply winter residents with toma-
toes, sweet peppers, cabbages, cucumbers,
onions, cauliflower, lima beans and hot pep-
pers.

“They know that once I have vegetables,
they don’t have to bring it,” Mr King said.
“They want something that is Cat Island any-
way.”

Mr King grows all his produce through the
pothole farming method and said he is enthu-
siastic about sharing his work with younger
Cat Islanders.

Tim Aylen

< fi

2.

WEDNESDAY, APRIL 23, 2008, PAGE /

PROPERTY DESCRIPTION: Single Family
Residence, 3 bed / 2 bath

PROPERTY SIZE: 11,988

FLOOR AREA: 1,710 sq. ft.

LOCATION: East on Carmichael Road from
Bacardi Road take the 1st asphalt paved
easement on the right. Property is 150 ft
south of Carmichael Road.

APPRAISED VALUE: $232,000

SOUTH BEACH ESTATES SUBDIVISION ©
LOT NO. 1 Block 22

PROPERTY DESCRIPTION: Split Level
Residential Building. with 3 Apts.
PROPERTY SIZE: 6,600 sq. ft..
LOCATION: Travel south along East Street
from Bamboo Boulevard take 1st corner on
right - Bougainvillea Blvd . Heading west
on Bougainvillea Blvd. take the 2nd corner
on the right Madeira Avenue come to the
“Ts junction and turn left onto Oxford Drive.
Property is 3rd house on the right at the
western corner of Serville Drive and Oxford
Avenue. :

APPRAISED VALUE: $397,000

3._ STAR ESTATES EASTERN DISTRICT

LOT NO. 67

PROPERTY DESCRIPTION: Incomplete
Split- level Multi-Family Duplex

PROPERTY SIZE: 7,000 sq. ft.

LOCATION: Traveling east along Prince
Charles Drive take the 1st corner on the right
past Sea Grape Shopping Plaza. Heading
south on Jupiter Way bearing left around the
curve, the subject property is the third lot on
the left past the curve.

APPRAISED VALUE: $TBA

4, TWYNAM HEIGHTS SUBDIVISION

5

LOT NO. 117

PROPERTY DESCRIPTION: Single Family
Residence

PROPERTY SIZE: 8,000 sq. ft.

LOCATION: Take Portland Boulevard east

of Super Value Food Store Prince Charles
Drive - south to the 2nd corner (Continental
Avenue) on the left. Continue around the
curve then take the 3rd corner on the left
(Tropical Avenue), Traveling north the property
is the 10th lot on the left or first property after
passing Tote Avenue.

APPRAISED VALUE: $295,000

; BEL-AIR ESTATES, CARMICHAEL ROAD

LOT NO. 259

PROPERTY DESCRIPTION: Single-storey
Residence . :

PROPERTY SIZE: 6,000 sq. ft.

LOCATION: East on Carmichael Road from
Faith Avenue take the 4th corner on the right
(Turtle Drive)’ property is 4th lot on right.
APPRAISED VALUE: $186,000

6. SOUTH BEACH CROWN ALLOTMENTS

LOT NO. Portion of Lot 52

PROPERTY DESCRIPTION: Single Family
Residence ‘
PROPERTY SIZE: 37,550 sq. ft. :
‘LOCATION: Northwestern corner of Marshall
Road. :
APPRAISED VALUE: $197,000

7. SOUTH BEACH ESTATES WEST



1.

2:

SUBDIVISION

LOT NO. 33, Block 27

PROPERTY DESCRIPTION: Single-storey
Residence, 2 Bed/1 Bath

PROPERTY SIZE: 6,000 sq. ft.
LOCATION: Situated on Oxford Drive.
APPRAISED VALUE: $TBA

KOOL ACRES SUBDIVISION

LOT NO. 9

PROPERTY SIZE: Multi-Family Lot

6,000 sq. ft.

LOCATION: Situated on the cull-de-sac in
Kool Acres.

APPRAISED VALUE: $TBA

OPULENT HEIGHTS SUBDIVISION

LOT NO. 28

PROPERTY SIZE: Multi-family Lot

7,597 sq. ft.

LOCATION: Traveling on Carmichael Road
West of Millar Road, take the 1st new
paved road pass “The Outdoor Patio” on the
left, then take 2nd left then 1st right - the
property is 2nd to the last on right before the
road ends.

APPRAISED VALUE: $75,000



anagement Limited greets Dr Deveaux.

RESIDENTIAL & COMMERCIAL

8. CARMICHAEL VILLAGE SUBDIVISION

LOT NO. 147

PROPERTY DESCRIPTION: Single-storey
Residence, 3 Bed / 2 Bath

PROPERTY SIZE: 5,000 sq. ft.

LOCATION: Drive West on Carmichael

Road from Gladstone Road intersection — ;
— about 2,000 feet on right is entrance to the
subdivision - turn left at the T-junction - the
property is the 19th on the right.
APPRAISED VALUE: $145,000

9. CORAL HARBOUR WATERWAYS

SUBDIVISION PHASE 3
LOT NO. 176 ;
PROPERTY DESCRIPTION: Single-storey

. Residence, 3 Bed / 2 Bath

PROPERTY SIZE: 8,750 sq. ft. ,
LOCATION: Enter Kent Avenue from Coral
Harbour Road - Property is on the right - 1st,
property after 3rd.speed bump.

APPRAISED VALUE: $182,500

10, ENGLERSTON SUBDIVISION

LOT NO. 12 Block 41

PROPERTY DESCRIPTION: Single-storey
Residence

PROPERTY SIZE: 2,810 sq. ft.
LOCATION: On Washington Street
APPRAISED VALUE: $TBA

LOT NO. 1372

PROPERTY DESCRIPTION: Single-storey
Residence, 4 Bed / 2 Bath

PROPERTY SIZE: 6,000 sq. ft.

LOCATION: From the junction of Carmichael
Road and Cedar Way, travel south to the
T-Junction of Cedar Way and Golden Gates
Streets, turn right then take the first corner

{| right, Comet Terrace. The property is the first

on the right.
APPRAISED VALUE: $TBA

’ 12. BRICEVILLE SUBDIVISION

LOT OF LAND

PROPERTY DESCRIPTION: Incomplete Four
Unit Apartment Complex

PROPERTY SIZE: 6,000 st. ft.

LOCATION: Situate on Southern side of a -
Dead-end Corner south of Pine Barren Road.
APPRAISED VALUE: $TBA

13. SUNSET PARK SUBDIVISION

LOT NO. 27 Block 8

PROPERTY DESCRIPTION: Single-storey
Residence 3 bed /2 bath

PROPERTY SIZE: 6,375 sq. ft.

LOCATION: From Carmichael Road and
Alexandria Road travel North on Alexandria
Road, take the second left onto Carib Road,
then the first right onto Phang Road then the
first right onto Carvel Road, go around the
curve onto Parkway Drive and the subject _
property is the third lot on the left beyond the
curve.

APPRAISED VALUE: $TBA

14, SIR LYNDEN PINDLING ESTATES

SUBDIVISION

LOT NO. 3018/ 19

PROPERTY DESCRIPTION: Single-storey
Residence, 3 bed / 2 bath

PROPERTY SIZE: 6,000 sq. ft.

- LOCATION: Traveling east on C.W.

Saunders Highway from Pinewood Gardens
roundabout, take the second corner on the
right (Lady Marguerite Pindling Avenue).
Heading south take the 1st paved corner on

- the left (Lauren Street) then the 2nd corner on

the left (Pear Tree Avenue) the property is the
2nd house on the left painted light blue with a
white asphalt roof.

APPRAISED VALUE: $156,000

VACANT LOTS

3. SANDILANDS ALLOTMENT

LOT NO. Parcel C

PROPERTY SIZE: Single / Multi-Family Lot
7,604 sq. ft.

LOCATION: On the southwestern corner of
Fox Hill Road (South) and a road reservation
two blocks north of Joe Farrington Road and
Yamacraw Hill Road.

APPRAISED VALUE: $TBA

2008 CreativeRelations.net

INTERESTED PARTIES SHOULD SUBMIT OFFERS (INCLUDE TELEPHONE CONTACT AND
POSTAL ADDRESS) TO: ASSISTANT VICE PRESIDENT, CREDIT RISK, P. O. BOX SS-6263,
TEL. 394-6465; FAX: 393-2883, OR CHRISTOPHER KNOWLES (FREEPORT), P.O. BOX F-40876,
TEL: 352-8307; FAX: 352-8221 FOR FURTHER INFORMATION. * WE RESERVE THE RIGHT TO
REJECT ANY OR ALL OFFERS


PAGE 8, WEDNESDAY, APRIL 23, 2008

New proposals could solve our
waste disposal and energy woes



In brief

Olympic flame
route is
scaled back
in Indonesia .

@ JAKARTA, Indonesia

TORCHBEARERS ran laps :
with the Olympic flame in front ;
of an invitation-only crowd :
Tuesday after officials changed :
the relay route from Jakarta’s :
streets to a sports stadium amid ;
pressure from China to keep :
away demonstrators, according :
to Associated Press. :

Police arrested several pro- :
testers rallying nearby and seized :
Tibetan flags and banners in the :
latest actions against a global :
relay that Beijing had hoped :
would promote the Aug. 8-24 :
Olympics. :

Criticism of China’s human :
rights record has turned the :
relay into one of the most con- :
tentious in recent history. Anti- :
Chinese protests have dogged’ :
stops in Greece, Paris, London }
and San Francisco. :

Countries have responded by :
sharply modifying routes and }
boosting security. Indonesia :
deployed water cannons and :
3,000 police officers in the capi- :
tal. :
The staged event in Jakarta :

was not televised live, apparent- :
ly because no broadcaster was :
prepared to pay forthe rights.

The 5,000 people who gath- :
ered at the Bung Karno Stadium :
to welcome the Olympic flame :
under dark, rainy skies were :
mostly government officials, -
flag-waving Chinese nationals :
working in the city, students, and :
people invited by corporate :
sponsors. :

“J am excited to witness his- :
tory,” said Andrea Putri, 15. :
“This kind of thing does not hap- :
pen every day.” :

A handful of others were :
turned away from the stadium
grounds, and the event was’:
mostly ignored in the city of 12:
million. The Olympics are not :
very popular in Indonesia, the }
only country where the 2004
Athens Games were not tele- :
vised. i
Hours. before the torch :
arrived, about 100 demonstra- :
tors held a rally and police :
briefly detained several of them, :
including a Dutch national iden- :
tified as Stef Bolte. i

| HE biggest problem
with garbage is that
it never really goes away.

And dump sites are a huge
threat both to the environ-
ment and to human health - as
we have seen with the recent
toxic fires at the Harrold
Road landfill.

This is not the first time the
dump has been on fire since it
opened in 1972. It happens
quite regularly, and each time
there are more people living
in the area who are affected.
The fumes contain dangerous
chemicals like mercury and
dioxin.

The dump covers about a
hundred acres, and there are
two main disposal sites -
known as cells. One is for
household garbage and one
for construction and demoli-
tion waste. Both waste
streams include toxic materi-
als like used oil, batteries, pes-
ticides, paints, solvents and
their containers.

Currently, the household
garbage cell rises a hundred
or more feet in the air, and a
new cell is being prepared to

replace it. Huge quantities of

used tyres are piled up ina
separate area, and the site
also features millions of dol-
lars worth of derelict shred-
ding and compacting equip-
ment that hasn’t worked in
decades.

Decomposition of the waste
- especially in the construc-
tion and demolition cell - pro-
duces large amounts of gas
which burns uncontrollably
beneath the surface if it is not
collected or vented. Consid-
ering the perenial fires, it is
clear that the dump is not
being properly managed by
government.

Ten years ago the Inter-
American Development Bank
financed a $33 million pro-
gramme to remediate the

_ country's chronic waste man-



agement problems.

At that time, we were pro- :

ducing more than a quarter
of a million tons of garbage
annually, with New Provi-
dence contributing about

. three quarters of that total. It

is estimated at over 300,000
tons today.

Back then the garbage was
simply dumped and spread
out by bulldozers. Out island
communities burned their
garbage in the open to make
room for more. To improve
this system, the IADB pro-
posed new sanitary landfills
at selected sites around the
country, each with an expect-
ed lifespan of 20 years. Only a
handful of these have been
completed.

Landfill

_In Nassau, the new landfill
at Harrold Road was lined to
prevent contamination of the
water table and a venting sys-
tem was supposed to have
been included to avoid gas
build-up. A shredder for gar-
den waste was also planned
(but never installed) and scav-
engers were to be excluded

from the site (an almost.

impossible task, observers
say).

The plan was to implement
a gradual privatisation of res-
idential garbage collection,
with the Department of Envi-
ronmental Health continuing
to play a supervisory and reg-
ulatory role. But that never
happened, and the govern-
ment continues to spend
millions of tax dollars on

new garbage trucks évery

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TOUGH CALL



few years. -

For example, despite the
fact that the new FNM admin-
istration asked private com-
panies to bid on a pilot con-
tract for residential garbage
collection last year, the Min-
istry of Health recently spent
$2.5 million on 10 new trucks.
Firms like Bahamas Waste,

stone - by treating garbage as
a valuable. resource. Hun-
dreds of waste-to-energy
plants are already operating
worldwide and hundreds
more are planned.

Experts see waste-to-energy

facilities as the only viable -

large-scale alternative to land-
fills. And in a small island
state like the Bahamas, the
ability to generate electricity
from our waste stream is a
major bonus.

An even greater bonus
would be removing waste dis-
posal from the national bud-

et.

Historically, many commu-



“Historically, many
communities just incinerated
their trash, and then disposed

of the 30 per

cent residue ina

landfill. But modern plants
first recover reusable materials
and then produce,electricity
by burning garbage as well as

cap

tured landfill gas, leaving

virtually no residue.”

United Sanitation, Impac and
Waste-Not currently handle
most commercial garbage col-
lection on New Providence.
In 1998 the IADB decided
not to recommend the incin-
eration of solid waste here

‘because of the high costs and

the fact that landfills would
still be required to dispose of
the residue. Burning garbage
produces acid gases and toxic
chemicals that must be treat-
ed with expensive air pollu-
tion control equipment.

But with oil prices skyrock-
eting there is new interest in
killing two.birds.with one



nities just incinerated their
trash, and then disposed of
the 30 per cent residue in a

landfill. But modern plants.

first recover reusable materi-
als and then produce electric-
ity by burning garbage as well
as captured landfill gas, leav-
ing virtually no residue.
Tough Call can confirm that
at least two proposals are on
the table to provide multi-mil-
lion-dollar waste-to-energy
facilities in the Bahamas.
Both essentially call for the
government to privatise sol-

_id waste management, and
promise huge benefits in

THE TRIBUNE

terms of both waste disposal
and power generation.

Both proposals estimate
capital costs of about $50 mil-
lion and operating costs of $25
million.

And both would seek to
integrate local waste disposal
firms into some form of pub-
lic-private partnership.

[nites is a Florida-
based firm with a long
history in the field. It man-
ages more than 40 solid waste
facilities worldwide, including
landfills, compost plants and
recycling operations. Innviron
wants to set up a new landfill
on Grand Bahama, provide
sorting facilities and compost
plants at several locations and
generate power on New Prov-
idence by producing biodiesel
and capturing landfill gas.

It proposes a joint venture
with the government and local
partners, but would provide
100 per cent financing for all
facilities.

Electricity

Meanwhile, a local group
called Bahamas Renewable
Energy Resources (led by
Waste-Not Ltd’s Ginny McK-
inney) is proposing to gener-
ate thousands of megawatt
hours of electricity by a
process that will capture land-
fill gas and convert most solid
waste to energy, leaving a
residual non-toxic slag that
can be used in road-building
and block-making.

BRER proposes an alliance
of local waste disposal firms
with a foreign partner and
would also provide 100
per cent financing for all facil-
ities.

Both proposals promise to
reduce our reliance on costly
fossil fuels while getting a
handle on our critical solid
waste problem.

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THE TRIBUNE WEDNESDAY, APRIL 23, 2008, PAGE 9

@
The Iribune












you! Are HK or your “noe (or someone you know) always celebrated a

looking at least ten years younger than you actually are? If so, THE TRIBUNE
wants to hear from you. We're looking for timeless beauties - 50 and over - for the
launch Fabulous at Any Age promotion s tarting t this Mother's oa

* The Athlete: Still playing on nthe softball team? Never miss a walkin
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seven inches, one ue “Up: and the other a full: -lengt th shot. You may oe scan and
e-mail application forms and images to features @tribunemedia.net. Include the
following information in the e-mail or on the back of each photo: age, birth date,
address and phone numbers. |
Photos will not be returned.
All entries must be received by May 2nd, 2008. Good luck.

¢SEE APPLICATION FORM BELOW

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Name: | Lac Age: Date of birth:
Address: | 7 | Phone number - Day/Evening and Cell:

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PAGE 10, WEDNESDAY, APRIL 23, 2008

THE TRIBUNE



Senator calls for reform of ROReaaiiniiteaiiccrran
after string of robberies

: M By TANEKA THOMPSON

Airlines
FROM page one

were able to increase their tick- :
et costs by $10 per person, but :
that benefit proved shortlived :
for the airline as fuel costs esca- :
lated unabated. :
“At that particular time, :
March 1, we were paying about :
$3.85 (a gallon) for jet fuel, it’s :
now up to $4.54,” Mr Rolle said. :
The CEO said restrictions :
have “caused (airlines) a lot of :
pain because really and truly the :
kind of prices that need to be:
charged for us to make a profit
might be difficult on the travel- :
ling public.” i
He claimed that, while cus- :
tomers are willing to pay more :
to fly to the United States, they :
are not so disposed to forking :
out the dollars for domestic trav- :
el. ;
“Tf you don’t have big brother :
standing here with you you:
could go under...the partnership :
is making both of us strong so :
we can work things out and get :
through the whole struggle of :.
it,” said. Mr Rolle. :
The venture will improve :
opportunities for consumers by :
allowing the airlines to expand :
the routes and frequency of :

flights they offer. i

_ Currently Regional Air oper- :
ates several nine-seater planes :
which, due totheir size, cannot :

‘service some cf their Northern :
Bahamas routes to the degree :

’ that they are in demand. i
Sky Bahamis’ 33-seater }
planes can now by used for the :
more in-demand ‘routes while }

Regional Air’s smaller planes :
can provide coverag\ for the less :
“high density” trips. :

“We came togethe to better :
utilise our services. Tére’s a lot }

of synergy between\is and I:
think it’s going to boen, said }
Mr Rolle. :

The airline. opéeators’ i
announcement came the:
same day that Senator Attho- :

- ny Musgrove told the Kivanis :
: Club ina presentation that syall i
Bahamian airline operatorsyre :

. being “undermined” as longas :
government continues to pp- :
vide “unlimited financi] :
resources” to Bahamasair whil :
failing to hold the airline to thi

“same financial standards” as

private companies.

country’s aviation industry

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

AN FNM senator is calling for a reform of the
country’s aviation industry which-would have
Bahamasair, Western Air and Sky Bahamas join-
ing forces to service all of the islands and poten-
tially save taxpayers millions of dollars.

Speaking at the Kiwanis Club meeting last
night, Senator Anthony Musgrove said that gov-
ernment’s unlimited financial support of the heav-
ily indebted Bahamasair is undermining the avi-
ation industry.

In his written presentation, he contended that —

allowing the likes of Sky Bahamas and Western
Air and the other companies operating regular
scheduled flights to access Bahamasair’s reser-
vation platform would let Bahamasair truly
become the national airline by ensuring access to
all major airports.

“Just imagine the impact that this simple action
could have, especially in having national and
international tourists accessing all islands within
our country.

“Together, Bahamasair and Sky Bahamas and
Western Air and the others could create a perfect
fit through the reformation which will ensure
that they amicably.co-exist,” he said.

This comes as local airlines Sky Bahamas and
Regional Air announced that they are entering
into a strategic alliance to ensure their survival in
the face of ever-increasing fuel prices.

Addressing the Kiwanis Club yesterday, Mr
Musgrove said the culture of having government :
funded and owned entities competing directly :

with private-companies is damaging the aviation - armed men believed to be respon-
: sible for a string of separate
: °°> + armed robberies in Nassau on
there appears to be the perception that a price : Monday. pS
war is taking place as these private operators are :

industry.
“Despite the growth in the air travel business,

being forced to compete against each other on the
one hand, and they are also competing with the
national airline on the other hand, which we all

vately-owned companies,” he said. —

The airline industry, the senator said, is being }
undermined by the assistance of “the visible hand :

of government, with the possibility of creating :

bad blood between young and promising busi- | made off with a deposit bag con-

: taining cash from the employee.
Mr Musgrove said the opportunity is ripe for : Police said the robber escaped in
the aviation industry to grow and at the same : ae travelling south on Nas-
time reduce the financial burden Bahamasair : S@UStteet.

nesses.”

continues to have on the taxpayer.

Bahamasair along with the Civil Aviation Depart-
ment and increase Bahamasair’s role to provide

owned,” he said.

Tribune Staff Reporter
tthompson@tribunemedia.net

POLICE are hunting three

Asst Supt Walter Evans said

: that, around 12.30 pm Monday,
? an employee of the Royal Palm
:- Hotel on Nassau Street was walk-
agree has ‘unlimited’ financial resources and are :
not held to the same financial standards as the pri- :
: white shirt, blue denim trousers,

ing to a vehicle when accosted by
a “dark” gunman dressed in a

and wearing a pair of “rainbow

shades”.
ASP Evans aaa the bold thief

Police are also investigating an

“Therefore we should not sit by and allow this armed ronbery: Which: Happ=ned

opportunity to reform a vital industry to pass us :

shortly before 7pm on Monday.
ASP Evans reported that two

: a ‘ : men - a gunman about 6ft lin tall
“Imagine the opportunities that will become : ‘anq 4-«

available if we can marry the expertise of : entered Burns House in the Inde-
: pendence Shopping Centre and
: robbed the facility of cash.
enhanced oversight to the air transportation :
industry, which is predominantly Bahamian- :
: nesses told police. The abandoned

short” accomplice -

The men fled in a white Nissan
Sentra, registration 169566, wit-



vehicle was later recovered in
Blue Hill Estates, ASP Evans
said.

Police also reported that
around 10pm Monday, a 54-year-
old man was at his West Bay
Street home when a knife-wield-
ing man entered his residence.

The assailant demanded keys
to the homeowner’s vehicle and
his ATM bank cards. The thief
escaped in the resident's Honda
Pilot vehicle.

Police recovered the stolen car
in the parking lot of Fidelity Bank
in Cable Beach.

Last week a machine-gun toting
armed robber terrorised down-
town food-store A Wong and
fired two shots at employees
before fleeing the scene on foot.

Two brazen armed thieves
robbed Lucky Food Store on
Market street last week Wednes-
day. As they fled the scene, they
were thwarted by an off-duty
police officer who exchanged gun-
fire with the assailants.

They were able to escape
apprehension but a bag containing
cash was recovered at the scene,
police said.

Police investigations continue
into these robberies.

Meanwhile, ASP Evans.cau-
tioned the public to be vigilant.

Pathologist describes injuries suffered by British toddler

statement had not been taken under cau-

@ By NATARIO McKENZIE

A LOCAL pathologist yesterday
described the severe head injuries a
British toddler suffered as a result of
being struck by an out-of-control speed-
boat while on holiday in the Bahamas
with his parents in 2002.

The trial of the three men charged with

manslaughter by negligence in the death.

of two-year-old Paul Gallagher Jr, con-
tinued in Supreme Court yesterday with
three prosecution witnesses being called
to testify.

The first, Dr Govinda Raju — a foren-
sic pathologist - who performed an

. autopsy on the toddler a day after his

death, told the court yesterday that the
deceased had sustained a fractured skull,
subdural hemorrhaging and lacerations to
the brain. Dr Raju stated that the two-

year-old had died as a result of blunt
force trauma to the head.

Paul Gallagher Jr., of Orpington,
south-east London, died at Doctors Hos-
pital on August 20, 2002, five days after
he was struck by a speedboat which had
crashed on to the beach where he slept.

The toddler was on holiday with his
family at the Atlantis resort on Paradise

Island.

The boat’s driver, James Bain, along
with boat owners Clifford Nottage and
Evangeless Williamson, are on trial for
manslaughter by negligence in connec-
tion with the toddler’s death.

Yesterday Dr Raju, in recalling his

external examination of the boy,

described various contusions the toddler
had suffered to the right side of his head.
Dr Raju also said there was extrusion of
brain matter in the right temporal area.

’ Another prosecution witness, Corporal
Keno Smith, told the court that he was
present when Asst Supt Paul Rolle inter-
viewed Clifford Nottage, one of the own-
ers of the speedboat.

Corporal Smith said he had arrested
Nottage for negligently causing the death
of Paul Gallagher by allowing James Bain
to operate the speedboat knowing that
he was not qualified to do so, as he did
not have a master’s licence.

Corporal Smith said during the inter-

view Nottage denied committing the
offence.

Constable Joel Johnson, who testified
last Friday, was recalled to the witness
stand yesterday. He had previously told
the court he had spoken with Evange-
less Williamson the day the accident took
place.

Yesterday, Constable Johnson said the

tion as Williamson had not been a sus-
pect in the matter at the time.

Despite the fact that the statement was
not made under caution, prosecutor
Anthony Delaney made an application to
have the statement entered into evidence.

Constable Johnson then read the brief
statement in which Williamson stated he
was one of the proprietors of Sea and
Ski Water Sports.

Williamson also stated that on Thurs-
day, August 15, James Bain and another

. man had been operating an 18-foot ves-

sel which lost control and crashed on to
the shore. Williamson had claimed Bain
and a young white boy had been injured
in the accident.

The trial, which is being heard before

. Acting Justice Elliot Lockhart, contin-

ues at 10am today.

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Employment
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FROM page one

The witness said she and her
boyfriend had frequent argu-

- ments,:and she would trayel to

Eight Mile Rock to stay with
her sister during these occa-
sions.

She also went to the area 4 to
help take care of her sister’s
children on weekends and
sometimes during the week, she
said. The weekday trips to her
sister’s would last two to three
days.

Every time Taylor got paid
on Fridays he drank, said the
witness, which led to the regular
arguments between the two.

The couple separated in 2005,
but Ms Brown claimed that she
continued to live with Taylor’s
mother at the Pioneer’s Loop
address despite having a new
boyfriend from Eight Mile
Rock shortly after the break-
up. Taylor, she. said, moved to
Nassau.

Under cross-examination
from Philip Davis, Ms Bridge-
water’s lead attorney, the wit-
ness acknowledged that other
people lived at the Pioneer’s
Loop address after being
pressed. She initially said that it
was only her, her boyfriend, his
mother and her four children.

Ms Brown initially said that
she did not know if Theresa
Johnson lives at the house.
After further questioning she
said that Ms Johnson does live
at Pioneer’s Loop. However,
the witness claimed she did not
know when Ms Johnson began
living there.

Ms Brown further acknowl-
edged that Darren Ferguson
lives at the house with Sheva
Taylor — they are a couple — and
her four children. However, Ms
Brown said she could not
remember when he moved
there.

Later she said that Darren
and Sheva moved into the
house around the year 2001,
while also acknowledging that
Sherry Lee Taylor lived at the

\ouse with her seven children.

There was another discrep-

acy in Ms Brown’s testimony

Tyarding when Leon Taylor,

« former boyfriend, moved
ou

litially she told the court
thahe left in 2005, but her lat-
er ltimony brought this into
quesyn. She said that her three
daug:ers had to be placed ina

childin’s home in 2006 as a

result f an argument she and

Taylohad. This contradicts

what Sk initially said, which

was thafaylor left in 2005.

€T jaintaining that Taylor
never rjrned to Pioneer’s

Loop aftehe left in 2005, Jus-

tice Jon Isycs asked about the

discrepanv, Ms Brown said
that she do; not keep up with
the dates, a4 remembers that

Witnesses

the girls were placed in the
home for a day around 2006.

It was also revealed in cross-
examination that one of Ms
Brown’s daughters has not lived
with her — as she first suggested
— since July, 2007.

The witness told the court
that she sells cake and is regu-

‘larly out of the Pioneer’s Loop

residence as an explanation of

the whereabouts of her house-
mates.

Sheldon Simmons, whose
vote is also being challenged by
Ms Bridgewater, also had diffi-
culties in testimony, telling con-
flicting accounts of when he
moved out of an apartment with
his wife.

Mr Simmons first said that he
told his wife that another
woman had a child for him sev-
eral weeks after the child was
born in March, 2007, before he
moved back to his parents’

house at Pioneer’s Loop.

Mr Simmons then said that
he told his wife about the child
three or four days into the new
year, then moved out.

His last account of the move
in cross-examination was that
the baby was born in March,
2006, and he told his wife three
or four days after this before he
moved out.

Kriston and Kendal Culmer —
brothers being challenged by
Ms Bridgewater — also took the
stand yesterday.

not specifically being aware of

Kidney drug used in Bahamas

FROM page one

Illinois, which also supplies The Bahamas.

“We do use heparin supplied by Baxter Inter-
national,” said a duty nurse who spoke under
terms of anonymity. “We do not know if our sup-
ply is contaminated and I am not certain what pre-
caution we will be taking at the moment but we
are looking into it and I’m sure hospital officials
will alert us on the next step to take.”

The nurse further stated that she heard about
the tainted heparin earlier yesterday.

“I was made. aware of it through the interna-
tional media,” she said: “But again, I am uncertain
if we have gotten a‘bad supply.”

American FDA officials believe a man-made
chemical called over-sulfated condroitin sulfate
(OSCS) may be responsible for dozens of deaths
and hundreds of adverse reactions in the United
States associated with contaminated heparin
between roughly last November and February.

Last night, Health Minister Dr Hubert Minnis
confirmed that PMH.stocked the Baxter drug,
but said he had been assured that local supplies
were not contaminated.

FROM page one

paving of the 7,300-foot runway
at Mayaguana was going to be

awarded to a “private company”

of which a politician had partial
ownership.

This company, Mr Gray said,
was Bahamas Hot Mix - the same
company over which Mr Symon-
ette was forced to resign on June
19, 2001, when he was chairman
of the Airport Authority.

At the time Mr Symonette was
accused of awarding a contract
to the company, of which he and
his brother were major share-
holders, without prior approval
from the airport’s board of direc-
tors.

Said Mr Gray: “It is proposed

_ that the paving of the airport in

FROM page one

Deputy PM denies

Mayaguana and the road works
be given to a private company
called Bahamas Hot Mix.

“Now my understanding is that
that company is owned in part
by a politician and if that is so I
will have much more to say about
that.

“But I am waiting until such
time that a contract is signed
before I make a formal statement
on that,” he said.

However, when contacted yes-
terday for comment on the mat-
ter, Mr Symonette told The Tri-
bune that he no longer had any
dealings with Bahamas Hot Mix,
and further, the I-Group, who
are developing the Mayaguana

project, handle all of their own
paving work on the island them-
selves. -

Confirming this, Minister of
Works Dr Earl Deveaux said his
Ministry had not entered into
any contracts in Mayaguana at
all.

“The only airport contracts we
have is the one in Abaco and the
conclusion of the one with the
Rowdy Boys in Long Island. First
of all if there is a contract it would
have to be the I-Group entering
into the contract, but certainly
not the government. But I have
no idea that any contract has
been entered into,” Dr Deveaux
said.

Known death toll

should have the right to bury their loved ones.”

Mr McKinney has been leading the search
assisted by BASRA and the US coastguard since
the accident on Saturday evening, and expanded
the search on Tuesday as far west as north
Andros, north to the Berry Islands and eastwards
to Eleuthera.

_ The boat, believed to be an older vessel man-
ufactured without foam padding, has sunk and not
been recovered.

Mr McKinney said there is now no hope of
finding survivors.

He added: “We have recovered the bodies of 12
women and two men, and we do not know the
identity of any of them.

“They have no personal effects but for one
small green bag, containing an assortment of
papers and an address book, and a jacket.”

He presumes the passengers were migrating
to Bimini in a human smuggling operation which
may have continued to the United States.

He said: “That is the direction the investigation
is pointing. It is not normal to find 20-something

people on board a small go-fast boat, so we can
only suspect it is possible smuggling.”

Survivor Ivan Lopez, from Honduras, said he
was out on a conching expedition in the Berry
Islands in a 14-foot fishing boat when he came
across the migrants whose boat was taking on
water.

He lent the group a battery and a pump to
help pump water out of the boat, but it sank with-
in two hours, and the frightened migrants piled on
to Mr Lopez’s tiny vessel, causing it to sink.

He and a Haitian man swam for help at around
10pm on Saturday and were not discovered until
6.30pm the next day, when they were reunited
with a Haitian woman involved in the accident.

Evidence has been handed over to Bahamas
police for investigation as the Royal Bahamas
Defence Force continues the search.

Police Commissioner Reginald Ferguson
declined to comment on the case, and Missouri
Sherman-Peter, permanent secretary for nation-
al security, was unavailable for comment.


WEDNESDAY, APRIL 23,



TENNIS:
KNOWLES,
BHUPATHI
IN ACTION

MARK Knowles and
his Indian partner
Mahesh Bhupathi are
currently playing in the
Monte Carlo Masters
Series in Monaco.

The duo are the num-
ber four seeded team in
the tournament. After
getting by in the first
round, they will now face
the team of Marcelo
Melo and Andre Sa of

- Brazil.

They are in the top
half of the draw, which
could see them go on to
play the top seeds of
American identical twin
brothers Bob and Mike
Bryan in the semifinal, if
they play through to
form.




























TRACK:
CATHOLIC
PRIMARY

MEET

THE annual track and
field meet for the
Catholic Primary
Schools will be held at
the Thomas A Robinson
Track and Field Stadi-
um, starting at 9am on
Friday.

Catholic Primary
Schools in New Provi-
dence and Mary Star of
the Sea from Grand
Bahama are all expected
to participate.

’ Last year, St Thomas
More captured the title
with Xavier’s Lower
School coming in as the
runners-up.
























































CRICKET:
CLICO |
KNOCKOUT

THE CLICO Interna-
- tional under-15 Cricket
Championship knockout
competition got started
in Barbados on Satur-
day.

The Americas team,
with Bahamians Jer-
maine Adderley and
Rudolph Fox as mem-
bers; defeated Kenya by
six wickets in a knockout
match. ,

The win advanced the
team to the semifinal
against the West Indies
in St Kitts. The match
was scheduled to be
played yesterday. But no
results were available.

The Kenyans were
restricted to a total of
133 runs.

Top bowlers for the
Americas team were
captain Nitish Kumar of
Canada, who took three
‘wickets and Joshua
Gilbert, who took two
wickets.

Gilbert led the Ameri-
cas batting with a score
of 43 runs not out for the
victory. Rudolph Fox

didn’t get the opportuni-
ty to bat.

& By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.het

SO far triple jumper Leevan ‘Superman’ Sands and
sprinter Debbie Ferguson-McKenzie are among lead-
ers in their respective events as the trek to the 2008
Olympic Games in Beijing, China, heightens.

Sands, who surpassed the A qualifying standard
for Beijing over the weekend, follows only Cuban
Arnie David Girat on the men’s triple jump list.

While Girat has consecutive leaps of 17.50, 17.42
and 17.32, Sands is next with 17.25.

Ferguson-McKenzie, on the other hand, now has




er

2008

qualifies for Olympics



AFTER COMING SO CLOSE to breaking the 46-second barrier in men’s 400 metres, quarter-miler
Andretti Bain finally did it over the weekend at the John. McDonnell Invitational at the University of
Arkansas where he qualified for Beijing.

the fifth fastest time in the women’s 100 mets 1n
11.15. Kelly-Ann Baptiste of Trinidad and Toba? has
emerged as the front-runner at 11.06. Wiss
No Bahamian is listed on the men’s 100, wich is
headed by Trinidad and Tobago’s Richard Thapson

with a time of 10.00.

an impressive 44.56.

Derrick Atkins, the world outdoor 100 silvemedal-

’ ist, is 15th in the 200 in 20.66. Martina Churaty of the
Netherlands Antilles is out front with 20.1/ :

In the 400, Andretti Bain is sitting in nin) place in

45.38 after he also qualified for Beijing American

world champion Jeremy Wariner leads tt field with

Shamar Sands has clocked 13.68 for 2’t in the 110







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

pared to those guys,’Bain reflect-
ed.

“But during the ‘ce coming on
the back stretch avy, I felt a little
tension coming o My hamstring,
the same hamstag that I felt at
indoors, which ]/as Just overcom-
ing, so I didn’t/ant to damage it
anymore. So orhe home stretch, I
had to dig dow deep.”

With an at‘ude that “I refused
to lose” anWith “the grace of
God,” Bainaid he decided to go
for it and clllenge the guys down
the stretch :

Now th he’s in the big league
with the @er top notch Bahamian
quarter-jlers, including co-nation-
al reco; holders Avard Moncur
and Ct} ‘Bay’ Brown, Bain said
he has!0ther lofty goal - he wants
to dipader the 45-second barrier.

«Rat now, I like where I’m at in
trairg- I had a good training ses-
siop day. where I worked on some
of ¢ things needed for me to go 44
se4ds, so I think the next time I
ry 400, it will be at our confer-

dd the name of quar-

ter-miler Andretti

Bain to the list of

& Bahamians who have
qualified for the 2008 Olympic
Games in Beijing, China, in August.

After coming so close to breaking
the 46-second barrier in the men’s
400 metres, Bain finally did it over
the weekend at the John McDon-
nell Invitational at the University
of Arkansas where he qualified for
Beijing.

With his winning time of 45.38
seconds, Bain surpassed the A qual-
ifying standard of 45.55. He became
the first of the Bahamian quarter-
milers to achieve the feat this year.

Bain, who is preparing to sit his
final exams next week at Oral
Roberts University, said he was
thrilled to have finally got the mon-
key off his back.

“T’ve been hitting 46s for the past i
two or three years and I told my | ¢€ meet in two weeks,” he pro-
coach I was just getting frustrated,” - ited. ae

said Bain from his dorm yesterday. ; 4 47 should definitely get me
“After the indoor nationals, I felt frough the conference, but I will
that I was definitely going to break “IK with my coach about whether I
the'46 barrier this year. I was hop-?Will go for the 44 or just wait for
ing to just run a 45.8 because I wasthe regionals and the nationals.
coming off a slight ankle and han’ opefully, before I’m finished with
string sprain.” college, I should run at least three
But Bain said his eyes lit up whi 448. ‘ :
he saw the 45.38 flashed on t Sounds like the national record of
screen. In fact, he had to tak? 44.45 held jointly by Monucr and
double look because he di¢t Brown could be in jeopardy?
believe that he ran that fast. ” “The last time I made a state-
“It reassured me that I’m @g ment about the national record, I

the right things and I will deftly got a call from Chris Brown, who
run fast this year,” said the fmer said he heard that I was going after

St John’s College graduate,ho is it,” Bain pointed out.
actually trying to concentraâ„¢ore But right now, my sights are not
on the 400 hurdles this yee on the 400 national record because
However, Bain said thec® Was I’ve been trying to concentrate on
an extremely competitive that the 400 hurdles. But the way things
came down to a showdoweetween are going now, me and my coach
him and two other comtitors on are projecting to run 44.5 or bet-

: stretch. ter.” :

preteen a wagle to out- If the record holds, Bain said h
sprint Barton CountyOmmunity —_ will take it. But he warned Moncir
College’s Tabarie H'TY (45.42) and Brown that he intends to even-
and Southest Miss!ti’s Miles tually go after it, even if he has to
Smith (45.67) to secre his historic wait until the Olympics in August.
run. “Coming off thturn, I found But for now, Bain said he just
myself about sever¢tres behind wants to bask in his glory and con-
the guys who car second and __ tinue his studies for his final exams
third. That was unpected consid- at Oral Roberts University before
ering the fact thal knew flat out he bring his college career toa

that I had a bette200 sprint,com- _ close.



‘Superman’, Ferguson-McKenze among leaders

hurdles. American David Oliver leads a strong US
field with 13.08 that tops the list.

In the long jump, Rudon Bastian has cleared 7.89,
which would have placed him on the list, but his per-
formance was one of 12 that were wind-aided.

The Bahamas is also sitting in sixth place on the
men’s 4 x 100 relay list as they attempt to qualify for
the Beijing Olympics. The Bahamas will have to be
one of the top 16 teams in the world to qualify.

Two Bahamians are on the list for the women’s
200. Grand Bahamian Nivea Smith’s gold medal per-
formance of 23.01 at the Carifta Games in St Kitts has
earned her Nol3, while Cache Armbrister is 34th
with 23.30.

Walker Moss upset with Atlantic Medical disqualification

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

FOR the past nine years, Philip
Moss has dominated the men’s walk
segment of the Atlantic Medical
Race.

On Saturday morning, he attempt-
ed to go for his 10th straight title. But
during the race, Moss said he was
informed by Bahamas Association of
Certified Officials (BACO) president
Ralf McKinney that he had been dis-
qualified.

Moss, however, felt it was a delib-
erate bid by several people to dis-
courage him from keeping his win-
ning. streak alive as he had been
informed from last year by one of the
organisers, Darren Bastian, that they
were trying to project a new image.

“Last year, Darren Bastian asked
me to let someone win and I told him
no because I’m not giving away any-
thing just like that,” Moss insisted.

“J did it for two years in Grand
Bahama, but I’m not doing it again.”

Though he’s always played a vital
role in the promotion of the event,

Moss said he wasn’t called to partici-
pate on the “Down Home” and the
“Early Morning at Sunrise” shows,
as well as the press conference.

Participate

“I wasn’t invited to’ participate in
any of those events,” Moss stated.

But Moss said it was evident that
organisers wanted someone else to
win because he’s not certain why he
was disqualified by BACO when he
didn’t do anything wrong.

“When you’re going to judge a rac¢

walling competition, you have been
cerfied and qualified and you have
toiave a certificate,” Moss pointed
ov.

‘We don’t have race walking in this
ountry. All we have is fun run/walk.
Went to the Dave McGovern world-
lass training camp in the United

States to learn my technique. If you

don’t understnd the technique, you

can’t judge it.”

Moss said there are just too many
people in the country who hate the
fact that every time he enters the
competition he wins.

“They slander my name saying that
Phil Moss was disqualified for run-
ning,” Moss charged. “When Ralf
McKinney told me that I was dis-
qualified, I asked him to show me
what I did wrong. He told me that he
wasn’t there to discuss it.”

Bastian was unavailable for com-
ment.

Moss said he is going to take the
organisers and BACO to court
because he felt that justice wasn’t
served. He said he never ran, and was
hurt that he was penalised in the
wrong way.
- PAGE 12, WEDNESDAY, APRIL 23, 2008 TRIBUNE SPORTS



3 Mi .- i... i Se
5
p



By The Associated
Press

SCOREBOARD

Wednesday, April 23

Philadelphia at Detroit
(7:30 p.m. EDT). The
76ers stunned the Pistons
90-86 Sunday in Game 1
of their first-round series.

STAR

Monday
— LeBron James, Cava-
lies, had 30 points and 12
asists to lead Cleveland
‘| to 16-86 rout of Washing-
| ton.

RO,LING
CLIVELAND played
their bet game in months,
blowingut the Washing-
ton Wizéds 116-86 Mon-
: | day nighto take a 2-0
lead in aNpening-round
playoff sens, The 30-
point mar. of victory
was the larg:t in Cleve-
land’s postséon history.
Washington ls Jost eight
straight gameo the Cav-
‘| aliers in the pleoffs,
Utah beat Histon 90-
84 on Monday tht to
‘| take a 2-0 lead ithe best-
of-seven series. Gne 3 is
Thursday night iNtah,
| where the Jazz we.37_4
-| during the regular ysop.

:| SKILES THE Li\y

THE Milwaukee Bxg

| moved quickly to fina

| their new coach, signit,

| Scott Skiles to a four-y,

| deal and introducing hii -

| at a news conference"
Monday.

Skiles takes over for
Larry Krystkowiak, who \
was fired last week after a \
disappointing season.
Skiles spent nearly three
full seasons in Phoenix

“4! after taking over for Dan-
_.-] “ny-Aingé early in the
1999-2000 season.

He was fired by the
Bulls in December after
making the playoffs in
three of his first four sea-
sons in Chicago.

SIXTH MAN

SAN Antonio Spurs
guard Manu Ginobili won
the NBA’s sixth man
award given to the
league’s best reserve on
Monday.

Ginobili led the Spurs in
| Scoring, averaging a
“4 career-high 19.5 points to
| go with 4.8 rebounds and
4.5 assists.

Ginobili came off the
bench in 51 of the 74
games he played this sea-
son. He got 123 of 124
first-place votes for 615
points. Barbosa came in
second with 283 points
and the Dallas Mavericks’
seen Terry was third with




SPEAKING
“We are playing the
champs. I know they
changed their team. But
they still have the same
coaching staff, the mon-
ster player and he’s taking
over the series.”

— Wizards coach Eddie
Jordan after a 116-86 loss .
to Cleveland on Monday
night. The Cavaliers have
a 2-0 lead in the opening-
round playoff series.









IN THIS March 12, 2008 file pho-
to, Boston Celtics forward Kevin
Garnett screams to the crowd as
he takes the court at the beginning
-Of their basketball game against

the Seattle SuperSonics in Boston.

(AP Photo/Elise Amendola,
File)






Photos: David J Phillip/AP

HOUSTON Rockets’ Tracy McGrady (right), dunks the ball as Utah Jazz’s Kyle Korver (26) defends dur-
ing the second quarter in Game 2 of an NBA Western Conference playoff basketball series Monday, April
21, 2008 in Houston.













































UTAH Jazz’s Deron Willian (8) goes up for a shot as Houston Rockets’ Chuck Hayes (right), defends dur-
ing the fourth quarter in Gag 2 of an NBA Western Conference playoff basketball series Monday, April 21,
2008 in Houston. The Jazz tat the Rockets 90-84 to take a 2-0 lead in the best-of-seven series.

Kevin Garnett wins
defensive player
of the year award

NEW YORK (AP) — Boston’s Kein Gar-
nett won the NBA’s defensive playeiof the
year award yesterday. He beat out Duyer’s
Marcus Camby and Houston’s Shane Batier.

The 6-foot-11 forward led the Celtic:with
9.2 rebounds per game. He added 18.8 pints,
1.2 blocks and 1.4 steals.

Helped

Garnett helped the Celtics to league-bet
records of 66-16 (.805) overall and 31-10 (.73%)



on the road.
Opponents

Boston held opponents to just 90.3 points
(second in the NBA) after allowing 99.2 points
per game a season ago. The Celtics had the
biggest one-year turnaround in NBA history.

Garnett received 493 points, including 90 first-
place votes. Camby, who won the award last
season, finished second with 178 points and Bat-
tier had 175 points.

@ By CHRIS DUNCAN
AP Sports Writer

HOUSTON (AP) — The
Utah Jazz have taken care of
the hard part in their playoff
series with the Houston Rock-
ets by winning the first two
games on the road.

Deron Williams scored 22
points and Mehmet Okur
added 16 points and 16
rebounds as the.Jazz beat the
Rockets 90-84 on Monday
night. Game 3 in the best-of-
seven series is Thursday night
in Utah, where the Jazz went
37-4 during the regular season.

“We can’t get too ahead of
ourselves and worry about
who’s going to win and who’s
going to lose,” Williams said.
“We’ve just got to keep play-
ing, keep fighting.”

The Rockets will need a
near-miraculous comeback to
win in the playoffs for the first
time since the 1996-97 season.
They can conjure hope from
the fact that they handed Utah
one of its four home losses this
season.

But that was at the start of
the regular season, when they
had center Yao Ming, who’s
out with a broken left foot.
Houston will get starting point
guard Rafer Alston back from
a hamstring injury for Game
3, but it may be too late to mat-
ter.

The Jazz have won eight of
the past.10 meetings with the
Rockets.

“Tt’s a must win,” Houston’s
Tracy McGrady said. “It’s even
tougher because they’re such a
great home team. It’s so tough

to-win up there in Salt Lake,

City. It’s going to show what
type of team we really.are.”
In Monday’s other NBA
playoff game, Cleveland beat
Washington 116-86. °\
McGrady had 23 points, 13

rebounds and nine assists, but |

faltered in. the- fourth quarter

for the second straight game...

The seven-time All-Star,
who has never advanced past
the first round of the playoffs,
fell just short of his first post-
season triple-double, but he
went 0-for-4 from the field and
scored only one point in the
final quarter. He scored 20
points in Game 1, but went 0-
for-3 from the field in the
fourth quarter of Utah’s 93-82
victory.

McGrady played 43 minutes
Monday night and said he was
tired at the end, a combination
of Utah’s physical defense and
his efforts to carry his team.

“T had no legs. I was on emp-
ty,” McGrady said. “Banging
with Matt Harpring, trying to
rebound, trying to make plays
for my team, trying to score,
playing 43 minutes. That’s a
lot.”

The Rockets still had their

-chances to win.

_ Luis Scola hit two free
throws with 1:21 to go to cut
Utah’s lead to 85-82.

After Williams missed a dri-
ving layup, Houston’s Bobby
Jackson hit a 3-pointer that
would have tied the game but
Scola was called for an offen-
sive foul away from the ball
when he pushed Andrei Kir-
ilenko.

McGrady blasted official
Tony Brothers for the call and
accused Kirilenko of exagger-
ating the contact.

“You can’t call that,” he

IN THIS Feb. 19, 2008 file photo, Denver Nuggets guard Allen Iverson,

NW Jazz beat Rockets 90-84
LiZay to take 2-0 lead in series

said. “I like Tony Brothers, but
that was a bad call. Very, very
bad call. Three points down,
crucial point in the game and
Kirilenko flops. He flops and
you call a foul on that? It was a
bad call.”

Kirilenko had a different
take.

“It was a foul,” he said. “It
was. the right call, in my opin-
ion.”

Kirilenko grabbed an offen-
sive rebound on Utah’s next
possession and Kyle Korver
flipped in a one-handed shot
as the shot clock expired to put
the game out of reach with 20
seconds to go.

Carlos Boozer added 13
points and Williams had five
assists for the Jazz, who closed
the game witha14-8run.

Jackson bounced back from
a 3-for-15 performance in
Game 1 to score 18 points.

The Jazz led most of the way
and were up 64-61.with 1:47
left in the third quarter when
Williams limped to the locker
room with a trainer after
aggravating a tailbone injury
that has bothered him for a
week.

Ronnie Price, Williams’
replacement, hit a 3-pointer
just before the quarter ended
to give Utah a 69-67 lead.
Williams returned to the bench
before the final quarter began.
’ He was back on the court
with 9:18 left in the game, after
Aaron Brooks went by Price
for a game-tying layup.
McGrady went out for a rest
when Williams came back and
Williams drove for a layup
with 7:41 left to put the Jazz
up 76-74.

McGrady returned with 7:07
remaining and was fouled ona
jumper with 6:39 left. He hit a
free throw to tie the game at
76. Williams hit a-short shot at
the other end to put Utah back
on'top. ;

-: Kirilenko stole the ball from

McGrady near the 5-minute
mark and Williams made a
free throw to give the Jazz an
81-76 lead. McGrady finished
with five turnovers.

“It’s not over yet,” Okur
said. “We’re very happy to get
two wins in Houston. We have
to do the same things in Utah
that we did in Houston and be
ready to go after them at
home.”

CAVALIERS 116,
WIZARDS 86

LeBron James had 30 points,
12 assists and nine rebounds
as Cleveland took a 2-0 series
lead with its largest margin of
victory in a postseason game.
Zydrunas Ilgauskas added 16
points for the Cavaliers, who
led by 25 points in third quar-
ter.

In the third quarter, Wash-
ington center Brendan Hay-
wood was ejected for a flagrant
foul on James. Haywood, who
had an altercation with James

in Game 1, didn’t make much

of an effort to go for the ball
and shoved James hard with
both hands as he drove to the
basket. :

Caron Butler had 14 points
for the Wizards, who have lost
eight straight playoffs games
to Cleveland. Gilbert Arenas
had seven points on 2-of-10
shooting for Washington.

Game 3 is Thursday night in
Washington.



right, goes up for a shot as Boston Celtics forward Kevin Garnett
comes in to cover in the third quarter of the Nuggets’ 124-118 victory
in an NBA basketball game in Denver. Garnett was selected as the
2008 NBA Defensive Player of the Year on Tuesday April 22, 2008.

(AP Photo/David Zalubowski, File)
TRIBUNE SPORTS

WEDNESDAY, APRIL 23, 2008, PAGE 13





‘Yama Bahama’ boxing

gym proposed for Bimini

THE Bahamas Boxing Com-
mission plans to lead the way
in saluting the country’s boxing
pioneer William Horatio But-
ler Jr, better known as “Yama
Bahama.”

This past weekend, a three-
man team headed by Chair-
man Pat Strachan and inclu-
sive of the Commission’s Sec-
retary Fred Sturrup and Com-
missioner David Bowe trav-
eled to Bimini for meetings
with Butler who is also a mem-
ber.

The team also met with
Chief Councilor Tasha
Bullard-Rolle and Adminis-
trator Sherrick Ellis.

All of the meetings were
meaningful and the conclusion
was that efforts would be made
to secure a piece of Govern-
ment land in Bailey Town for
the purpose of building a box-
ing gym in honour of Butler.

Both Chief Councilor
Bullard-Rolle and Adminis-
trator Ellis expressed appreci-
ation for the plan to pay tribute
to the island hero.

The Commission team and
Commissioner Butler looked
at two pieces of properties. A
proposed 50x100 feet section
and another 100x100 lot are
the options.

‘The team determined that
‘following a full meeting of the
Commission, a draft of the pro-
posed gym would be processed
to present to the Bimini Coun-
cil and Administrator Ellis on
a return visit to the island.

Chairman Strachan empha-
sized that the trip was “well
worth it.” He pledged the sup-
port of the Commission to see



PAT STRACHAN (far left), chairman of the Bahamas Boxing Commission, Commissioner William “Yama Bahama” Butler (centre) and Commis-



sioner David Bowe look over one of the sites in Bimini proposed for the building of the Yama Bahama Boxing Gym.

the project through to its com-
pletion with the support of his

colleagues and the Ministry of

Sports.
It is proposed that the build-
ing include dressing rooms/rest

rooms, an office area, an
equipment area and a 40x30
area for workouts and train-

ing.

On Tuesday, members of the
Commission met with Mr Carl

Barely
Legal
wins

title

THE 55th National Fam-
ily Island Regatta got
underway in Elizabeth Har-
bour, Georgetown, Exuma,
yesterday with the comple-
tion of the Junior Champi-
onships.

The junior segment of the
championship featured a
total of three races.

Winning the title was
Barely Legal, skippered by
Bernard Knowles with 35
points. The Termite, skip-
pered by Megan Knowles
and the Sweet Island Gal,
skippered by Mackey Steel,
both ended up with 31.

But by virtue of finishing
ahead of the Sweet Island
Gal in two of the three
races, the Termite came
through in second place.

Today, the action will
continue with the races for
the Commodore Emeritus,
Governor General’s and
Prime Minister’s Cups.

On Thursday, it will be
the start of the series races
that will wrap up on Satur-
day.


































Brennen, under secretary to
the Minister of Youth and
Sports. He was provided with a
report indicating the interest
of the Bimini element and the
desire to work with the Com-
mission to honour Butler.
According to Strachan, the -

Commission will again travel
to Bimini soon to meet with
the Council there.

onte Carlo Masters: Djokovic defeats

Ljubicic to advance to the third round

Bj By JEROME PUGMIRE
AP Sports Writer

MONTE CARLO, Monaco
{AP) — Novak Djokovic

advanced to the third round of

the Monte Carlo Masters by
defeating Ivan Ljubicic 6-3, 6-
3 yesterday.

The Australian Open cham-
pion broke Ljubicic at love in
the eighth game of the first set
for a 5-3 lead and clinched the
set with an ace.

Using a two-handed back-
hand to counter Ljubicic’s

booming serve, Djokovic saved:

two break points in the eighth
game of the second set but was
rarely troubled.

“I came up with a straight-
set win, which is very impor-
tant for me at the start of the
clay-court season,” Djokovic
said. “I played my best tennis
in the most important
moments, and that’s what actu-
ally matters most.”

The Serb will meet Andy
Murray, who beat Filippo
Volandri of Italy 6-4, 6-1.

After missing the chance to
even the score at 4-4, Ljubicic’s
serve withered in the next
game and Djokovic won on his

.first match point when Ljubicic
hit a forehand into the net
from the back of the court.

Djokovic said he took more
time than usual to find his
rhythm before pulling away.

“That’s why I got off to a
nervous start,” Djokovic said.
“But then I played at a very
.good level.”

‘Djokovic’s best showing on
clay:so far was last year’s title
at Estoril, Portugal.

“One of the things that I

~geally try to have this year is
patience,” Djokovic said. “On
the other hand, I’ll try to be
myself and be aggressive, the
kind of style of game that I
always have. So it’s going to
bea real test for me.”

Djokovic leads the ATP race
and has two tournament wins
already this year, compared to
one for top-ranked Roger Fed-
erer. Second-ranked Rafael
Nadal, a clay specialist, is look-
ing for his first.

“I don’t want to push myself
too much and focus on the
points and rankings,” Djokovic



CROATIA’S Ivan Ljubicic returns the ball to Serbia’s Novak Djokovic dur-
ing their first round match at the Monte Carlo Tennis Open tournament,
in Monaco, Tuesday, April 22, 2008. Djokovic won 6-3, 6-3.

(AP Photo/Claude Paris)

said. “I know I have enough
potential to be top of the
world. But I’m only 20 years

_old, I still have a lot of time

ahead of me.”

ALSO ON THE
TENNIS FRONT:

¢ Tommy Robredo of Spain
beat Stanislas Wawrinka of
Switzerland 6-4, 7-5 in the first
round.

Neither player looked com-
fortable in an error-strewn

match, but the 12th-seeded
Robredo capitalized on more
opportunities and broke
Wawrinka’s serve six times. He
faces Robin Soderling of Swe-
den in the second round of the
clay-court tournament.

e Ivan Karlovic of Croatia
also advanced when Sebastien
Grosjean retired with an injury

while trailing 4-6, 6-4, 4-1. The.

Frenchman needed treatment
on his thigh early in the third
set.

« Two-time Grand Slam



SERBIA’S Novak Djokovic serves against Croatia’s lvan Ljubicic during their first round match at the Morte
Carlo Tennis Open tournament, in Monaco, Tuesday, April 22, 2008. Djokovic won 6-3, 6-3.
(AP Photo/Claude Paris)

champion Marat Safin and
Igor Andreev won in straight
sets. Safin beat Xavier Malisse
of Belgium 6-3, 6-2, and
Andreev defeated Dmitry Tur-
sunov of Russia 7-5, 6-3.
Safin faces fifth-seeded
David Ferrer of Spain, while

Andreev plays eighth-seeded
Mikhail Youzhny of Russia.

e Also in the first round,
Simone Bolelli of Italy beat
Juan Ignacio Chela of Argenti-

‘na 6-2, 6-2, and Jarkko Niemi-

nen of Finland dominated
Marc Gicquel of France 6-0, 6

4,

e No. 11 Juan Monaco of
Argentina, Andreas Seppi of
Italy and Ruben Ramirez
Hidalgo of Spain also
advanced in straight sets.
Ramirez Hidalgo will play top-
seeded Roger Federer.
PAGE 14, WEDNESDAY, APRIL 23, 2008

TRIBUNE SPORTS





Long signs five-year, $30m

contract with Miami Dolphins
Will be top pick in NFL dratt

@ By STEVEN WINE
AP Sports Writer

DAVIE, Fla. (AP) — Michi-
gan tackle Jake Long signed a
five-year contract with $30 mil-
lion guaranteed Tuesday with
the Miami Dolphins, who plan
to select him with the No. 1
pick in the NFL draft.

’ Long’s total package is for
$57.75 million, said a person
familiar with the negotiations
who didn’t want to be identi-
fied because the Dolphins
declined to disclose terms.

The Dolphins were interest-
ed in trading the top choice.
When no suitors surfaced, they
décided to sign Long and avoid
a possible holdout. Last year’s
first pick, JaMarcus Russell,
missed all of training camp
before signing a $61 million
contract with the Oakland
Raiders.

“Tt’s such a great honor to
be the No. 1 pick,” Long said.
“I’m real glad we got the con-
tract done so I don’t have to
worry about any of that.”

The new Dolphins regime

Lewis:

me Oir-(!
Johnson
KOI Le!

Route
word mye
sit out

@ By JOE KAY
AP Sports Writer




CINCINNATI (AP) —
Tired of Chad Johnson’s
posturing for a trade,
Cincinnati Bengals coach
Marvin Lewis says the dis-
gruntled receiver should
keep his word and sit out
the season.

Lewis also said Tuesday
that linebacker David Pol-
lack is leaning toward
retirement. The former
first-round draft pick broke
a bone in his neck while
making a tackle during the
-2006 season.

Pollack’s decision isn’t a
surprise. He has said all
along that he doubted he
would return if there was a
chance he could injure the
neck again.

Lewis’ comments about
Johnson were his strongest
yet. The Pro Bowl receiver
has been disgruntled since
the middle of last season,
when his look-at-me antics
came under criticism.

Since the end of last sea-
son, Johnson has been lob-
bying for.a trade even
though he agreed to a long-
term deal with the Bengals
two years ago. Johnson’s
contract would pay him $3
million next season and
extends through 2010, with
a club option for 2011.

Although Johnson
stopped talking to reporters
in Cincinnati last season, he
has done numerous nation-
al interviews in which he
threatened to sit out the
season if he’s not traded.
Lewis responded Tuesday
by saying he should follow
through with his threat.

“T’ve stated our case with
Chad,” Lewis said. “He has
a contract through 2011.
He’s stated without an
opportunity to go to a dif-
ferent team and a new con-
tract, he wasn’t going to
play. I think he’s a man of
his word and says he’s not
going to play, so don’t
play.”

Lewis said the Bengals
haven’t received a trade
offer for Johnson. The club
repeatedly has said it won’t
trade him.














































led by Bill Parcells began nego-
tiations last week with Long’s
agent, Tom Condon.

“Jake was our guy from the
beginning,” general manager
Jeff Ireland said. “Jake Long
was_on the top of our board
for a long time. There wasn’t a
whole lot of debate. We
thought it was a very good fit
with the Miami Dolphins.”

The Dolphins said they did-
n’t begin contract talks with
any player other than Long.

“It was a very straightfor-
ward negotiation,” Condon
said. “They didn’t leverage us
with other players, and we did-
n’t tell them we wanted to be
on some different team or any
of those kinds of things.”

Reaching an agreemént
before the draft isn’t unprece-
dented. The Houston Texans
signed defensive end Mario
Williams as their No. 1 pick on
the eve of the 2006 draft.

Condon said there’s enough

time for the Rams to reach a

contract deal with a prospect
before they. make the second
pick in the draft Saturday.
“My understanding is St.
Louis is on the clock,” Con-
don said with a smile.
Offensive line is considered
the biggest need for the Dol-
phins, who went 1-15 last year,
and new Miami coach Tony
Sparano coached the offensive
line with the Dallas Cowboys.
The only other offensive
lineman to be taken with the
No. 1 pick since 1970 was Ohio
State tackle Orlando Pace,
who made the Pro Bowl seven
consecutive times after joining
the Rams in 1997.
The Dolphins would be
thrilled with a comparable
achievement by the 6-foot-7,

315-pound Long, who is _

expected to play left tackle.

“Jake has all the qualities ©

we’re looking for in our line~
men,” Sparano said. “He’s very
tough, smart and disciplined.
Those are the people we want

to surround ourselves with
here.”

Long started 40 games at
Michigan and was Big Ten
offensive lineman of the year
in 2006 and 2007. He finished
to LSU defensive tackle Glenn

Dorsey in balloting last season ©

for the Lombardi and Outland
trophies.

The Dolphins decided to use
the top pick on offense rather
than take Dorsey, Virginia
defensive end Chris Long or
Ohio State linebacker Vernon
Gholston. It turns out Ireland’s
comment last week about
drafting “a pillar of your
defense” was a slip of the
tongue — or a smoke screen.

“That’s for me to know, and
you to guess about,” Ireland
said with a smile. a

.Miami has eight other picks
and four of the first 64.

e AP Football Writer Dave
Goldberg in New York con-
tributed to this report.



MICHIGAN tackle Jake Long smiles as he answers questions from the
media during a news conference, Tuesday, April 22, 2008, announcing
him as the No. 1 pick in the NFL football draft by the Miami Dolphins at
the Dolphins training facility in Davie, Fla.

(AP Photo/Wilfredo Lee)

Jake set to add to Big Ten’s OL legacy in NEL

lm By LARRY LAGE
AP Sports Writer



ANN ARBOR, Michigan (AP) —
Jake Long’s oversized body spilled out
of a chair as he turned to the right and
glanced at a wall of photos of former
Michigan players in the NFL.

Tom Brady’s picture would stand out

to most, but the 6-foot-7, 315-pound
Long locked in on a row featuring sev-
eral offensive linemen including Jon
Jansen, Steve Hutchinson and Jon Run-
yan.’ >,
“It’s the first time I’ve looked up
there in a while,” Long said in an inter-
view with The Associated Press recent-
ly. “I’m excited to be up there, too.”

Long’s photo definitely will earn a
spot in the recruiting lounge at Schem-
bechler Hall.

He signed a deal Tuesday with the
Miami Dolphins, who will draft Long
No. 1 overall on Saturday.

Miami made Long the first offensive
lineman taken No. 1 in more than a
decade and the fifth in league history.

The St Louis Rams took Ohio State .

tackle Orlando Pace first overall in
1997.

“We had him at the top of our board
for a long time,” general manager Jeff
Ireland said at a news conference in
Davie, Florida. :

Before Long’s negotiations with th
Dolphins became public, the former
Wolverine insisted he wasn’t consumed

. with the possibility of going No. 1.

“It doesn’t matter to me when I get
drafted,” he said. “I’ll be happy wher-
ever I go and I’m going to do every-
thing I can to have a great career. I
have no clue who is going to take me
and I don’t really care because I’ve
done everything to show what I can
do.”

The Big Ten Conference has pro-
duced many men to protect quarter-
backs and pave the way for running
backs over the years.

Some linemen, such as Pace and
Hutchinson, turned out to be Pro Bowl
mainstays — while others, such as
.Michigan State’s Tony Mandarich and
Iowa’s Robert Gallery haven?t suc-
ceeded.

Pace was voted to the Pro Bowl sev-
en straight times before being slowed
by injury the past two seasons.

“Orlando is one of the best players I
coached,” said former Buckeyes coach
John Cooper, a consultant for the
Cincinnati Bengals. “I put him right up
there with guys like Eddie George,
Robert Smith, Shawn Springs, Terry
Glenn and Joey Galloway.”

Hutchinson, now playing for the Min-
nesota Vikings, has been a Pro Bowler
the past five seasons.

Long, a two-time All-American and
Big Ten lineman of the year, seems like
a lock to be a standout if he stays
healthy. But he wouldn’t be the first
lineman from the conference to be a
bust if he doesn’t pan out.

Mandarich entered the draft with
unprecedented hype after the Michi-
gan State tackle graced the cover of
Sports Illustrated in a bare-chested pose
showing off his huge body. The Green
Bay Packers took Mandarich No. 2
overall in 1989, passing up future super-
stars Barry Sanders, Deion Sanders and
Derrick Thomas.

Mandarich flopped miserably for the
Packers and was dogged by rumours



IN THIS October 6, 2007 file photo, Michigan offensive lineman Jake Long (77) goes up against Eastern Michigan defensive lineman Eric
Young during a football game at Michigan Stadium in Ann Arbor, Mich. Long was selected Tuesday, April 22, 2008, with the first pick
in the NFL draft by the Miami Dolphins, who signed him to a multi-year contract four days before the start of the draft.

‘ (AP Photo/Carlos Osorio, File)

he took steroids. He passed tests for
muscle-enhancing drugs and denied
using them. Later in his career, he was
a serviceable player with the Indi-
anapolis Colts.

Gallery has been a lackluster starter
for the Oakland Raiders since they took
him with the second pick in 2004.

“Gallery is an enigma,” said Gil
Brandt, the NFL’s scouting consultant
and longtime personnel director of the
Dallas Cowboys. “I thought he would
be really good and he hasn’t been.”

More times than not, however, the
Big Ten seems to fill rosters in the
league with solid linemen. Each school
in the conference had at least two in
NFL at the start of last year.

Michigan and Ohio State both had
seven linemen on opening day rosters in
2007 followed by Wisconsin (six), Iowa
and Purdue (five each), Illinois (four),
Indiana (three), Penn State, Michigan
State, Minnesota and Northwestern
(two apiece).

“Michigan has prepared guys well
for the NFL over the years because
they not only had to learn how to run
block, but to pass block, too, in our sys-

tem,” retired Michigan coach Lloyd

Carr said Monday. “Jake Long is going

“to be the next great one because not

only is he a special player, but he’s a

great leader.”

The Cleveland Browns took former
Badger Joe Thomas third overall last
year and he played in the Pro Bowl.
The Arizona Cardinals drafted former
Nittany Lion Levi Brown at No. 5 a
year ago and remain upbeat about him
even though injuries stunted his rookie
season.

As a junior, Long beat out both
Thomas and Brown for his first of two
Big Ten Offensive Lineman of the Year
awards. He gambled financially by
choosing to return to Michigan for his
senior season — risking an injury that
could’ve cost him millions — and
Brandt said it definitely paid off.

“Jake Long is going to make a lot
more money for staying in school,”
Brandt said. “And, he’ll be worth it
because he’s a great tackle and a special
person.”

Long gave up just two sacks and was
called. for only two penalties in his
entire career. He joined Pace, Man-
darich and Korey Stringer, a former
Buckeye, as the only Big Ten linemen
to be selected the conference’s best in
consecutive seasons.

During his sophomore season, he
missed the first seven games with an
ankle injury. Long weighed 335 pounds
as Michigan slumped to a 7-5 record

that was so startling, it motivated the
entire team to get into better shape,
including its star tackle. Long lost 20
pounds and kept the weight off the next
two seasons.

Though he’s about to make a lot of
money, Long isn’t taking anything for
granted.

A month before the draft, the son of
a factory worker and sub-sandwich
maker was still driving his 1999 Dodge

. Ram and wasn’t sure if he could afford

to buy a gift for his parents.

“J like to have money before I spend
it,” said Long, who chose not to borrow
a lot of money from his agent, Tom
Condon, like many players do from
their representatives in the months
leading up to the draft. “I’m sure once
I earn some money, I'll look for a new
truck.”

When future visitors look at his pic-
ture in Schembechler Hall, some might
say Long was the best lineman Michi-
gan ever sent to the NFL.

“I don’t know if I deserve that status
because so many greats have come here
and so many are still in the league,” he
said in his aw-shucks style. “It’s an hon-
our just to be in a general category with
those guys, but I have to prove it in the
NFL like all of the great ones from
Michigan have done.”
THE TRIBUNE



Aviation heads to act on climate
change, but set no targets

@ GENEVA :

AVIATION chiefs pledged Tues-
day to address the industry’s impact
on climate change but shied away
from setting concrete targets for
reducing emissions of global-warm-
ing gases, according to Associated
Press.

A declaration signed by trade
bodies and aircraft makers commits
the industry to develop new tech-
nologies with the eventual aim of
achieving carbon-free travel.

The signatories included trans-
Atlantic rivals Boeing Co. and Air-
bus, engine makers Rolls-Royce and
General Electric, and industry
groups such as the International Air
Transport Association, which rep-
resents more than 240 airlines world-
wide.

Environmentalists said the dec-
laration was a modest first step.

“What we urgently need is a com-
mitment to real, aggressive targets to
increase efficiency and ultimately
to stabilize and reduce emissions,”
said James Leape, director-general
of pressure group WWF Interna-
tional, which is also known as the
World Wildlife Fund.

“J don’t yet see the urgency
among industry leaders that we’re
going to need,” Leape said, adding
that public pressure was the main
reason why companies have begun
to act.

The industry declaration promis-
es to work toward alleviating global
warming by helping set up an inter-
national emissions trading program
under the auspices of the Interna-
tional Civil Aviation Organization.

By putting their weight behind
that program, the industry again sig-
naled its opposition to the Euro-
pean Union’s plan for a regional
emissions trading system. The 27-
nation bloc’s attempt to include air-
lines in its cap-and-trade program
is opposed by the airline industry
as well as the U.S., China and other
nations.

“Europe’s unilateral approach
will only lead to legal battles and
trade wars,” Giovanni Bisignani,
chief executive of the airline trade
group, told delegates at the industry
meeting in Geneva.

He said other countries would
not accept a trading system imposed
by the EU.

Europe wants all airlines that fly
within the EU to trade pollution
allowances beginning in 2011, forc-
ing them to buy more if they want to
increase their flights. Such programs
are designed to provide industries
with financial incentives to lower





April 26th, 2008
Poop Deck Sandyport
3:00pm -7:00om

emissions of greenhouse gases.

Airlines flying to the EU would
join the program a year later — a
move that would hit U.S. airlines
on the lucrative trans-Atlantic
routes.

USS. officials have warned that
including non-European airlines in
the EU cap-and-trade program may
break international aviation and
trade law.

Scientists have raised questions
about the European program, but
for other reasons.

Most experts agree airlines are
to blame for about 2 percent of man-
made emissions of carbon dioxide, a
gas believed to contribute to global
warming. Other gases emitted by
aircraft are also thought to be a
problem, but opinions differ on their
impact.

Dispute

Converting the éffects of gases
such as water vapor and nitrogen
oxide into a carbon dioxide equiva-
lent as part of an emissions trading
system is a matter of scientific dis-
pute.

“Tt’s like comparing apples and
oranges,” said Helen Rogers, a
senior research associate at Cam-
bridge University in England who
works in the field of climate model-
ing.

The danger is that a hastily
imposed program could end up
worsening the contribution that avi-
ation makes to climate change by
encouraging the development of
more fuel-efficient aircraft that emit
other, more harmful gases, she told
The Associated Press by telephone.

David Fahey, a research physi-

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WEDNESDAY, APRIL 23, 2008, PAGE 15

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INTERNATIONAL NEWS

































GIOVANNI BISIGNANT, Director’: °
General and CEO of the Internation- -
al Air Transport Association (IATA),
adjusts his glasses as he attends
ae Aviation and Environment Sum-
"mit in Geneva, Switzerland, Tues-
Sy April 22, 2008. Aviation chiefs
during the summit have signed a..

« declaration that pledges to address
the industry's impact-on climate: -
chanae but shuns ¢ oe targets
to reduce carbon emissions.

cist at the U.S. National Oceanic
and Atmospheric Administration,
also urged against moving too quick-
ly.

“We need the industry, the sci-
entific and policy community to
come together and frame this prob-
lem. Then we can put this into a car-
bon market,” he said.

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PAGE 16, WEDNESDAY, APRIL 23, 2008

THE TRIBUNE



Mos heel a
ee hip carrying arms

to Zimbabwe may
return to China



Tsvangirayi Mukwazhi/AP Photo

ANNA SATIYA, 84, shows a head injury and scars sustained after an attack by suspected Zanu PF supporters
in Gutu, about 150 kms south of Harare, Zimbabwe yesterday. Satiya, who was receiving medical attention,
told how the family was woken up at night and beaten for voting against President Robert Mugabe in the
March 29 elections. Zimbabwe church leaders issued a joint statement yesterday calling for international
intervention to help end the country’s election crisis, and said people are being tortured, abducted and some
murdered in a campaign against opposition supporters. f







@ By ANGUS SHAW
HARARE, Zimbabwe_.

A shipment of weapons to |,

Zimbabwe may be returned to
China, the Chinese Foreign Min-
istry said yesterday, after the trou-
bled southern African nation’s

neighbours prevented the cargo |

from being unloaded, according
to the Associated Press.

The Chinese freighter arrived
in South Africa last week, and
human rights groups and others
said they feared the mortar
grenades and bullets onboard
could be used by President
Robert Mugabe’s regime to
clamp down on its opposition.

Zimbabwean church leaders
issued a joint statement yester-
day calling for international inter-
vention, saying people were being
tortured, abducted and some
murdered in a campaign against
opposition supporters.

A South African group per-
suaded a judge to bar the
weapons from transiting through
the country to landlocked Zim-
babwe, and the An Yue Jiang
then sailed away from South
Africa. Private groups and gov-

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A WORKER sweeps the floor
of the auction room on the
opening day of the tobacco
selling season in Harare. The
floors in Harare failed to
open on schedule yesterday
due to uncertainty over pric-
ing.

ernment officials in Mozambique,
Angola and Namibia also object-
ed to the weapons, though
Namibia said the ship could refu-
elthere ifnecessary. ‘

“As far as I know, the carrier is
now considering carrying back
the cargo,” Chinese Foreign Min-
istry spokeswoshan Jiang Yu said.

Although Jiang offered no
details, the move appeared to
indicate a backdown in the face of
refusals by Zimbabwe’s neigh-
bors to allow the weapons to be
offloaded and shipped through
their territories.

The State Department said it

. had urged countries in southern

Africa — notably South Africa,
Mozambique, Angola and
Namibia — not to allow the ship
to dock or unload. -

It also said it had asked the
Chinese government to recall the
vessel and not to make further
weapons shipments to Zimbab-
we until the postelection crisis is
resolved. “Right now clearly is
not the time that we would want
to see anyone putting additional
weapons or additional material

_ into this system when the situa-

tion is so unsettled and when we
have seen real and visible
instances of abuses committed by
the security forces,” deputy
spokesman Tom Casey told
reporters.

“We’re pleased to see that a
number of countries in the region
... have decided not to let this ship
either dock or offload,” he said.

Casey added that China had
been encouraged in a message
delivered by U.S. diplomats in
Beijing “to halt this shipment”
and “to refrain from making addi-
tional shipments.”

Zimbabwe’s government has
refused to publish the results of
the presidential election held
more than three weeks ago, and‘
the opposition says that is part of
a ploy to steal the vote.

There are reports of increas-
ing violence against the opposi-
tion. China is one of Zimbabwe’s
main trade partners and allies,
and there is no international arms
embargo against Zimbabwe. But
China’s relationship with Mugabe
is often pointed to as an exam-



Tsvangirayi Mukwazhi/AP Photo

ple of its willingness to deal

with authoritarian regimes in
order to secure commodities and
markets in Africa.

Although China’s global
weapons exports are considered
tiny in dollar terms, especially
compared to the United States,
Beijing is a principle exporter of
cheap, simple small arms blamed
for fuelling violence in Sudan and
other parts of Africa.

Patrick Craven, spokesman for
the South African union congress
that had helped lead the cam-
paign against the ship, called it a
“historic victory” that he hoped
would encourage Zimbabweans
and lead to more grassroots cam-
paigns against Mugabe.

“So far the governments have
clearly been lagging behind the
people,” Craven said. “We’re
hoping now they will wake up.”

Nelson Chamisa, a spokesman
for opposition leader Morgan
Tsvangirai, said he was awaiting
more details on the report the
ship may be returning to China
without offloading the weapons.

“It would be pleasing to the
people of Zimbabwe to note that
there has been solidarity.on the

‘continent to stop the arming of

the (Mugabe) regime at the’
expense of the people,” Chamisa
said. “Instead of importing guns,
we should be importing syringes,
(AIDS medicine), books for kids.

“We should be importing food
for the people,” Chamisa said.
“We are not at war. If anything
we have to have a war against
hunger, poverty, a lack of democ-
racy, dictatorship.”

But Mugabe’s Deputy Infor-
mation Minister Bright Matonga
said his country had the right to
acquire arms from legitimate
sources.

“We are not a rebel country,”
he told The Associated Press.

Also yesterday, Zimbabwean
church leaders issued a joint state-
ment calling for international
intervention to help end the coun-
try’s election crisis, saying peo-
ple were being tortured, abducted
and some murdered in a cam-
paign against opposition sup-
porters. ©



On Friday April 44 2008, “b month old MalikoRiA. Pratt was
crowned King of LittleFeet Academy,(Faith Ave).
Not only was he qrowned King, but made history
He is the very first King of the LFA. Malik has a personality
out of this warld, always smiling.
There is never a.dull moment when he is around,
His name itself has great meaning which is King.

He js very smart and intelligent and loved by many.
Malik is the son of proud parents Ms. Mercier Bannister &
Mr. Roderick PrattUr. Again, we would like to cortgratulate °
our King on his early accomplishments and say thanks to all
that made things possible for him

Peete,




















WEDNESDAY,

APRIL 23,

2008





ROYAL # FIDELITY

Money at Work

NASSAU OFFICE
(242) 356-9801

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Atlantis condotel could be
sold out ‘within 12 months’

@ By CARA BRENNEN-BETHEL
Tribune Business Reporter

tlantis’s 495-unit Reef
condotel is likely to
be completely sold-
out “within 12
months” if sales
maintain their current pace, Kerzner
International’s joint venture partner
told The Tribune yesterday, with
some 47 units sold in the first three-
and-a-half months of 2008.

Bruce Weiner, president and chief
operating officer of Turnberry Ltd,
told Tribune Business that despite
the global financial system’s credit/liq-
uidity crunch, and US real estate mar-
ket slowdown, just over 70 per cent of
the units at The Reef Residencies at
Atlantis, Paradise Island had been
sold. ©

He added that sales of the private
residences, which go back into a
rental pool when their owners are not

* Kerzner’s joint venture partner says Reef shrugs off slow 2007
second half, with 47 sales in first three-and-half-months of 08
* Over 70% of 495 units sold, as Turnberry says ‘any
news of our demise has been greatly exaggerated’

there, were progressing well, with

‘some 350 of the 495 having been sold

since Turnberry and Kerzner placed
them on the real estate market two-
and-a-half years ago.

“Thankfully, to borrow .a quote,
any news of our demise has been
greatly exaggerated,” Mr Weiner said
yesterday.

“I would say that in spite of every-
thing that is happening, given the eco-

nomic slowdown we are doing good. .

Not great, it could always be better,

Airline allianc



driven by 43.5%
fuel costs spike.



@ By NEIL HARTNELL
Tribune Business Editor

TWO Bahamian airline
companies yesterday unveiled
a “strategic alliance” they
believe will improve the indus-
try and maintain their prof-
itability, as they struggle to
cope with rising fuel costs that
have riser by 43.5 per cent in
just six-to-seven months.

Heuter Rolle, owner of Sky-
Bahamas Airlines, said the
resource-pooling arrangement

-worked out with Freeport-
based Regional Air, which will
see the two companies share
aircraft, personnel and
finances, had been driven to a
“significant” extent by spi-
ralling global oil and fuel
prices.

Mr Rolle said his company,
which according to its website
operates three daily round-
trips between Nassau and Exu-
ma, had seen its fuel costs
increase by $40,000 a month
in the seven-month period



* Strategic venture between
SkyBahamas and Regional

_ Air aims to pool aircraft,
resources to ‘maintain
profitability’

* Carrier sees fuel costs
rise by $40,000 per month,
or $10,000 per month, in
seven months, with gas
now accounting for 35%
of operational costs

between now and Septem-
ber/October 2007.

“I’m paying an average of
$10,000 more per week,” he
told Tribune Business, explain-
ing that while fuel costs had
averaged roughly $23,000 per
week in September/October
2007, they were now at $33,000
per week - an increase of 43.5

SEE page 4B

‘Agoressive’ 6-8
month Albany road
re-route goal

Bae Reson Pn

Sponsored by Zax
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40 miles per gallon



m@ By NEIL HARTNELL
Tribune Business Editor

’ THE developers behind the
$1.3 billion Albany Golf &
Beach Resort yesterday said
they had set the “aggressive
goal” of completing the south-
west Bay Street re-routing
within six to eight months, as
they prepare to “ramp up”
Phase I construction within the
next five to six weeks.

Christopher. Anand,
Albany’s managing partner,
told The Tribune that con-
struction on the road re-rout-
ing had already begun, and the
developers were now working
to ensure they met “a series of
environmental guidelines” they
have to comply with - as part
of the Environmental Man-
agement Plan (EMP) - before
“heavy duty construction
begins”.

“The road has actually start-

SEE page 2B

but good.”

He explained that to date 350 of

the units have been sold, and that
between January to Monday April
21, 2008, 47 units had been purchased,
making it a very good winter for the
Reef.

*“Tt’s been good. Of course, I can’t
say what may happen later this year,
but if we continue on the current pace
that we are on now, we should be
able to sell'the remaining 146 units
within 12 months,” Mr Weiner added.

royalfidelity.com

info@royalfidelity.com

Mr Weiner said Atlantis’s strong
brand recognition and performance,
boosted by the new properties, includ-
ing the Cove, had contributed signif-
icantly to: the improved sales perfor-
mance.

-“Most of our business was done on
the island with people visiting the
property and realising that they want-
ed to invest there,” he added.

Many Bahamian mixed-use resort -

developments have been impacted

heavily by the global credit crunch,



SHOWN (I-r) are Laurent Colli, head of private banking, Niekia Horton, chief operating officer, Christian Coquoz,
‘managing director, and Charmaine Tucker, manager of trust and corporate services

which has made it difficult for them to
obtain debt financing on the global
markets.

In addition, this and the US eco-
nomic woes have made it difficult for
potential real estate buyers - investors
who would.purchase lots, condos and
homes on these.developments - to
also access financing.’

Deprived of steady cash flow from
these real estate sales,-a number of
mixed-use resort projects have ground

--to a halt.

s Bahamian achieves private bank firsts

fm By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

“history by becoming not only
the first Bahamian, but the first
woman, to hold the position of
chief operating officer at Lom-
bard Odier Darier Hentsch’s
(LODH) Private Bank .and
Trust’s Bahamian operations.

Speaking with Tribune Busi-
ness as the first anniversary of
her appointment approaches,
Ms Horton said:her position
demonstrated how open-mind-
ed the Swiss-headquartered
bank was in not being limited
- by nationality, colour or sex
when it comes to providing

SEE page 5B

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NIJEKIA Horton has made
PAGE 2B, WEDNESDAY, APRIL 23, 2008 THE TRIBUNE

Bank investors .â„¢

road re-

asked to back ™™

ed, and people are working on
it,’ Mr Anand said. “We’re
trying to get it done in six
months. It’s an aggressive goal,

but that’s what we’ve asked
| them to do, six to eight
months.”
He was speaking in response
to what construction industry







sources had told The Tribune
was concern in the struggling
sector that work on Albany

































@ By NEIL HARTNELL impacting efficiency and three-for-one stock split] had been delayed again, with
Tribune Business responsiveness. Common- would not come to share- contractors not receiving con-
Editor wealth Bank’s Board of holders, but because of the tract tenders in the time they

Directors is thus proposing way the bank’s Article is had anticipated.
COMMONWEALTH that the Articles of Associa- written, an Extraordinary Mr Anand, though, said

Bank’s shareholders willbe tion be amended to elimi- Meeting had to be called to there were no delays on

asked at its upcoming May nate the current require- approve the share split. Albany’s construction, with the

21, 2008, annual general ment for an EGM, especial- “He said that generally, a project due to “ramp up over

meeting (AGM) to approve __ ly as no shareholder would Resolution like this would the next five to six weeks” in

changes to the Articles of be disadvantaged by astock be approved by the compa- terms of mobilising contrac-

Association that would split or consolidation - the ny’s Board of Directors”. tors and their workforces.

allow the directors to proportion of their total Meanwhile, Common- © Before work on the Albany

decide whether to “split, holding in the bank remains wealth Bank shareholders marina could start, Mr Anand
subdivide or consolidate” the same. will also be asked at the said the developers had -to
the bank’s ordinary shares. T. B. Donaldson, Com- AGM to approve Articles work with the Bahamas Envi-

The move is intended to monwealth Bank’s chair- of Association amendments ronment, Science and Tech-
avoid the need for Com- man, did not return The - that will set out the frame- nology (BEST) Commission
monwealth Bank to call an Tribune’s phone calls seek- — work for how minority on complying with all environ--

Extraordinary General ing comment yesterday, but shareholders “bring mental guidelines.

Meeting (EGM) of share- had previously told this motions to the floor” of the This involved monitoring

holders whenever it wants newspaper that the Board AGM. water turbidity, checking for

to conduct a stock ‘split or was going to look at amend- The proposed amend- any signs of erosion on Ade-
consolidation; as it had to ing the Articles of Associa- ment to Article 44 stipu- - laide Beach, and identifying
do on October 17, 2007, tion on this issue. : lates that only a minority and securing specific vegeta-
when it needed shareholder . In the Proxy Statement shareholder who is the ben-' tion plots that were not to be
approval for its three-for- for the 2008 AGM, the min- _ eficial owner of at least 10 harmed during Albany’s con-
one stock split. utes of the October 2007 per cent of Commonwealth struction.
Having to hold an EGM EGM record the Common- Bank’s shares, or has the “There’s a lot of environ-
costs the bank time and wealth Bank chairman as support of at least 10 per mental work to create baseline
SMT Tit money, as well as delaying saying that “normally, a cent of the outstanding “test results to measure
any decision on such issues, consideration like this [the shares, can submit a motion against,” Mr Anand added.
notice he/she proposes to “We're also getting permitting









bring before the AGM. for all our hotel cottages to

7° ° The proposed amend- start.”
( aA t Oo ment stipulates that the The developers, he
Y notice will not be attached explained, were just waiting
A cafe : to the Proxy Statement if it - for a final foundation permit
Te appears designed to “pub- for the project’s hotel cottage
lish, advance or enforce a component, and had already
: : ‘ personal claim. orredressa -.| received “a clean bill of
personal grievance” against health” from the Antiquities,
the bank, its directors and Monuments and:Museums

reeport and need somewhere to live? officers. Corporation.

to save money and not pay tourist ~ It will also.not be pub- June was the month when it
We have rs | Vacancy for an lished if it “does not relate would feel “more like” con-
: ¢ in a significant way” to struction work on Albany had
: ie on de mo pe rienced S) ushi e nl Commonwealth Bank’s begun in earnest, Mr Anand
| Rent a tastefully furnished apartment in a nice residenti business affairs. ‘| « said, adding: “That’s when the

Fsrea for a week or more at a fraction or what it w marina, the hotel cottages, the
golf course will be going; all
the long lead items.”
i iY 5 | ‘|e aah The 565-acre project was
likely to require over 1,000
construction workers during
F the first phase work, Mr
Felt Wn QUES Anand said with this number
behind the MENS set to increase to a peak of at
read Insight ‘least 2,500 when phase two
on Mondays ' work began as phase one was
finishing.

iia craters : Please leave resumes at Indigo on Cable Beach

Cheek out Stop-N-Sh “eS . ;
Hea Awayirom Hoaié Program #1 S ky line Dr. we

: Contact bahamas. homeawayfromhome@gemai com 5 ee
| Or call the Stop-N-Shop Tele: 1(242) 394-4949 : N ass au, L. h e B aham as

meee. rpategetreta |. Tels (242) 327-2524
: Fax:(242) 327-2535






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THE TRIBUNE

WEDNESDAY, APRIL 23, 2008, PAGE 3B





amily Guardian ‘very
optimistic’ on its fund

@ By NEIL HARTNELL
Tribune Business Editor

FAMILY Guardian, the
BISX-listed life and health
insurer, was yesterday said to
be “very optimistic” about
investor demand for its three
newly-launched sub-funds, its
president telling The Tribune
that the way the product had
been structured “differentiat-
ed” it from the competition.

Patricia Hermanns, who is
also the company’s chief exec-
utive, said Family Guardian
had already received “expres-
sions of interest” in FG Finan-
cial Fund Ltd, the sub-funds’
investment fund parent, from
both Bahamian institutional
and retail investors.

The three sub-funds - the
FG Financial Preferred
Income Fund, the FG Finan-
cial Diversified Fund, and the
FG Financial Growth Fund -
were launched to the Bahami-
an capital markets during the
middle of this month.

Ms Hermanns told The Tri-
bune: “We’re just finalising the
structure of the funds. We have
had a couple of expressions of
interest, and people have
expressed interest in buying
into the funds from the insti-
tutional as well as the individ-
ual side.”

She added: “We’re very opti-
mistic in terms of the market
response. The proof of the
pudding will be in terms of the
funds deposited with the funds,
but the response to date has
given us a fair amount of con-
fidence.”

The FG Financial Fund Ltd
has been structured.as a segre-
gated accounts company,
which means that the liabili-
ties from one of the three sub-
funds will not impact any of
the other two. In effect, the
three sub-funds’ investments
are all held separately of one

another.

By structuring its investment
fund in such a way, Family
Guardian, whose parent is
BISX-listed FamGuard Cor-
poration, will be able to match
clients’ investment profiles and
risk appetites to particular
investment strategies via its
sub-funds.

The Financial Preferred
Income Fund wiil invest pri-
marily in fixed-income instru-
ments, such as government
bonds, certificates of deposit
and mortgages; the FG Finan-
cial Diversified Fund will
invest in a mix of equities,
bonds and other fixed income
securities; and the FG Finan-
cial Growth Fund will invest
up to 75 per cent of its assets in
Bahamian equities.

The minimum initial sub-
scription is $500, a nice entry
point for Bahamian retail
investors, and this can be
spread across the three sub-
funds if the client chooses. Sub-
sequent minimum subscrip-
tions will be for $100.

Ms Hermanns said Family
Guardian would be able to
capitalise on its strong existing
client base, especially in insur-
ance and financial services, to
generate capital for the invest-
ment fund.

She explained that Family
Guardian’s existing pension
fund had been used already to
help establish the fund with
seed capital.

“We already have a sub-
stantial base in place for the
fund, and are seeking to attract
institutional and individual
investors to take control of
their financial futures outside
of their employers’ pension
fund,” Ms Hermanns said.

“We feel we have a client
base, a loyal client base, as a
starting point for investing in
our fund. We feel we have dis-
tinguished ourselves from our

t

competition. The structure of
our funds is a lot different from
the competition.

“We feel we can bring a high
level of quality service, and feel
the fund is differentiated from
what is out there. Starting off
with three separate funds, each
with their own siructure, is dif-
ferent from what is out there.”

Acknowledging that the dif-
ficult Bahamian economic cli-
mate might impact investment
decisions, Ms Hermanns said
it was unlikely to “have a seri-
ous detrimental impact on
what we are trying to do”.

This was because it became
even more important for
Bahamians to “save and pre-
pare for their future” during
an economic downturn, Ms
Hermanns said, as doing so
provided them with “stabili-
ty”.
FG Financial Fund Ltd had
been designed as a wealth
accumulation product, she
explained, intending to meet
the changing demographics of
an ageing Bahamian popula-
tion by preparing them for
retirement.

These changing demograph-

ics, she said, required Bahami-.

an life and health insurers to
develop new products to
ensure they remained relevant
to their clients, going outside
their traditional core business-
es.



JOB OPPOTUNITY

Dean’s Shipping Company has an immedi-
ate opening for an experienced Maintenance
Mechanic.

The individual should have at least 10 years
expereince as a diesel mechanic with welding
experience. Successful candidate must be self
motivated, possess a strong work ethic, experi-
ence with diesel engines, tractor head, and trailer
repairs.

Please respond to:

Deans Shipping Company
P.O. Box EE-17318
Telephone 356-6672, 356-6673







Sales Supervisor

Needed

- Large established Wholesale Company seeks mature,
experienced sales supervisor.

aN Usa elem tale) colU(o] nmol icc Uimenclalcclo MUO MsI= MUNeLVlcreb

- Should be familiar with the food and pharmaceutical wholesale
and retail distribution trade.

- Responsible for the overseeing of sales persons, merchandisers
and the proper execution of in-store merchandising and

promotions.

- Will assist sales manager with daily eee Oo) MST csaee Lae

MRM SING Staff.

- Must be able to recognize sales, competitors’ and market trends
and report to management proposals to counteract negative
trends and improve sales.

- Must keep detailed records of all store visits, problems found,
recommended changes, instructions given, lly follow up

success of changes.

Salary package commensurate with experience
but above industry average.

Must have your own transportation Pte will get gas
allowance.

Send resumes to:

employee.opp@gmail.com





eee st

d/o
OFF

Governments across the
world were coming under
increasing pressure to meet the
retirement needs of ageing
populations, Ms Hermanns
said, and Family Guardian was
attempting to meet market
demands from people increas-
ingly seeking to take responsi-
bility for their own futures.

FG Financial Fund Ltd’s
launch has also coincided with.
that for two Family Guardian
subsidiaries, FG Financial,
which will provide pensions
and investments services, and
FG Capital Markets, which will
deliver brokerage and corpo-
rate advisory services.

Selected

Collins & Pe Tey
Tel: 322-7707

JOB OPPORTUNITY

- Applicants must have a minimum of twelve (12) years experience in Japanese cooking espe-
cially sushi and sashimi food preparation, teppaniaki and tempura techniques knowledge. The
candidate must possess a master’s diploma in Japanese cooking with a minimum six (6) years in
a high quality Japanese restaurant. This person must be willing to teach knowledge to our young
Bahamian chefs.






















1-E ti Cl fi Fi Di e

Applicants must have eight (8) years minimum experience in Executive Sous Chef position

and at least two (2) years in Experience Chef position. Applicant must be fluent in Spanish and
strong knowledge in Mexican and modern Spanish cuisine, traditional French base is a must:
This person should as well be able to manage large functions and should be able to teach his fel-
low staffs in the art of “Tapas”, ice carving and vacuum techniques.



The applicant must have Four Season or Ritz Carlton experience.




1- Chef Tournant
Applicants must be relief cooks and know all departments of kitchen. Applicants will be re-
quired to work in various kitchen of the property. This is a seasonal position with a minimum of
eight (8) years experience in a high quality hotel kitchen is necessary. European experience is
essential.



All interested persons are asked to forward resumes to The Human Resource Director, P.O. Box
N-7776, Nassau, Bahamas.



VACANCY FOR THE POSITION OF:
MANAGER, CREDIT RISK

Core responsibilities:

Acts as Relationship Manager to high risk clientele by
liaising with clients to determine needs and resolve
issues, providing answers and communication wherever
necessary. |

Performs maintenance and records management on
existing portfolios and advise Credit Risk Consultant -
of any issues.

Performs constant follow up on high risk/impaired
accounts and institutes proper procedures regarding the
collection of same.

Assess financial position of high risk/impaired loans..
Prepares credit proposals by conducting comprehensive
financial and non-financial analysis.

Provides coaching, guidance, and direction to line
lenders in the assessment and structuring of credit
facilities.

Knowledge, Skills and Abilities:

Bachelor’s Degree and five or more years of credit
experience.

Strong accounting and financial analysis skills.
Strong negotiation skills.

Detailed knowledge of credit and collections.

Core knowledge of legal practices and documentation.

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 May 9, 2008 to:

The Tribune
P.O. Box N-3207
DA #62096
Nassau, Bahamas


Airline alliance driven by
43.5% fuel costs spike

FROM page 1B

per cent.

With 52 weeks in the year, at
current fuel prices, SkyBa-
hamas is paying about $520,000

ACCOMMODATIONS WANTED

Fully farnished ROOMS, APARTMENTS,
& Houses wanted for Short term stays
in the Bahamas Home Away From Home
program.

Contact Ms. Allen @ Stop-N-Shop Online
394-4949 or e-mail :

Bahamas. HomeAwayFromHome@gmail.com





PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL .



more per year for its fuel
alone.

The total annual fuel bill,
assuming the $33,000 per week
price remains constant, would
equal $1.716 million, and Mr

Rolle told Tribune Business.

that aviation gas currently
accounts for 35 per cent of his
total operating costs.

With inter-island Bahamian
airline operators unable to

raise ticket prices, or add fuel .

surcharges, at the same time
or rate, revenues have not kept
pace with costs, resulting in
margin squeezes and a reduc-
tion in per passenger yields.
While the two companies’
alliance might help reduce
their fuel costs because they



will be able to buy in greater
bulk, and obtain better dis-
counts from suppliers, Mr
Rolle said SkyBahamas had
already been forced to raise its
ticket prices.

From March.1, 2008, one-
way prices had increased by
$5, and the Exuma round-trip
by $10.

Regional

Through the tie-up with
Regional Air and its owner,
Lynden Steven Mitchell, which
is being billed as a “strategic
alliance” rather than a full
scale merger, SkyBahamas is
hoping to enhance efficiency
and profitability.

Between the two companies,
they have a total of about 80
employees and generate
between $8-$10 million per
annum in revenues, according
to Mr Rolle, and cost savings

will come “from more strategic
utilisation of equipment”.
This, he explained, would
involve better use of the two
companies’ combined nine-
strong fleet, which features air-
craft with capacities ranging
from nine seats to the 33-pas-
senger SAAB 340 turboprops.
- Through the enlarged com-
bined fleet, Mr Rolle explained

that the two companies would

be “able to place the larger
planes on the more profitable
routes, and the smaller planes
on the less profitable routes,
keeping everything profitable”.

In turn, the synergies
between the two companies’
route schedules is obvious.
SkyBahamas provides thrice-
daily service between Nassau
and Eleuthera, plus charter
services to Bimini, Stella Maris
in Long Island and Cap Hatien
in Haiti.

The Public is hereby advised that |, CATHERINA CONYERS of the
island of New Providence, The Bahamas, intend to change my
son’s name from CORY LOFTON WILLIS FARQUHARSON to CORY
LOFTON WILLIS CONYERS. 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-792, Nassau, Bahamas no later than
thirty (30) days after the date of the publication of this notice.







NOTICE

NOTICE is hereby given that PAULINE BETHEL of
PALMETTO POINT, ELEUTHERA, 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 16TH day of
APRIL 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

TAYLOR _
INDUSTRIES LTD.

111 Shirley Street

ee
Sart
Thursday, April 24

Friday, April 25
Saturday, April 26

We regret any inconvenience this
will cause to our customers



Abaco Markets

Bahamas Property Fund
Bank of Bahamas
Benchmark

Bahamas Waste

Fidelity Bank

Cable Bahamas

Colina Holdings
Commonwealth Bank (S1)
Consolidated Water BDRs
Doctor’s Hospital
Famguard

Finco

FirstCaribbean

Focol (S)

Freeport Concrete

ICD Utilities

J. S. Johnson

Bahamas Supermarkets
Caribbean Crossings (Pref)
_.RND Holdi

““ABDAB
Bahamas Supermarkets
RND Holdings

Colina Bond Fund
Colina MSI Preferred Fund |
Colina Money Market Fund
Fidelity Bahamas G & | Fund
Fidelity Prime Income Fund
CFAL Global Bond Fund
100.0000 CFAL Global Equity Fund
1.0000 CFAL High Grade Bond Fund
soun?:8346 Fidelity International Investment Fund

1.308126°"**
2.996573"***
1.387505"**
3.7011°***
12.1010°*
100.00**
100.00**
1.00°*
9.6346"

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 -

52wk-Hi - Highest closing price in last 52 weeks

52wk-Low - Lowest closing price in last 52 weeks

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

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

Change - Change in closing price from day to day

Daily Vol. - Number of total shares traded today

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

P/E - Closing price divided by the last 12 month earnings

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

(S1) - 3-for-1 Stock Split: Effective Date 7/11/2007
TO TRADE CALL: CRAL 242-502-7010 | RIDELIF 42.956-77

YIELD - last 12 month dividends divided by closing price

Bid $ - Buying price of Colina and Fidelity

Ask $ - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol. - Trading volume of the prior week

EPS $ - A company’s reported earnings per share for the last 12 mths

Regional Air, though, pro-

NOTICE

NOTICE is hereby given that LARKLAND CAMPBELL
of CLARENDON, JAMAICA 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 16th day of
April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.




NOTICE is hereby given that ELVALINA E. WILLIAMS
of EAST STREET SOUTH, P.O. Box N-8020, 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 16th day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.













NOTICE .

NOTICE is hereby auen that KELLY ROSTAD of
BANKS ROAD, ECKERS HOUSE, P.O. BOX
195, ELEUTHERA, 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 een days from the 16TH day of

APRIL 2008 to the Minister responsible for Nationality

and Citizenship, P.O.Box. N- 7147, Nassau, Bahamas.





NOTICE

ANDERSON UNIVERSAL LIMITED, _
AN INTERNATIONAL BUSINESS COMPANY

Notice is hereby given that the voluntary dissolution of the above
company commenced on the 21st day of April,2008. Articles of Dis-
solution have been duly registered by the Registrar General’s office, P.O.
Box N532, 50 Shirley Street, Nassau Bahainas. The Liquidator is A.J.K.
Corporate. Services (Bahamas) Limited, whose address is Suite 11,

Bayparl Building, 18 Parliament Street, P. O. Box. AP59205/3352, |}

Nassau, The Bahamas.



FG CAPITAL

BROKERAGE & ADVISORY SERVICES

Sie

- 29 February 2008

- 31 December 2007
*** 14 April 2008
**** 34 March 2008

NAV - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100



vides three daily round-trips
between Freeport and the two
Abaco destinations of Marsh
Harbour and Treasure Cay,
plus weekend services from
Freeport to San Andros, Chub
Cay; Mangrove Cay, North
Eleuthera and Governor’s
Harbour.

Therefore, while Regional
Air covers the northern
Bahamas, Eleuthera and
Andros, SkyBahamas has the
central Bahamas through Exu-
ma.

Consolidation is nothing new
in the global airline industry,
which over the past five-six
years has seen a number of air-
lines go out of business due to
the squeeze from rising fuel
costs, increased competition
and declining passenger num-
bers.

Response

In response, the major inter-
national carriers have sought

' to establish alliances and, in

some cases, merge, the latest
such deal being the attempted
consolidation featuring Delta
Airlines and Northwest.

Therefore, it seems that
global industry trends are mak-
ing their presence felt in the
Bahamas, although Mr Rolle
said he was unsure of other
inter-island private carriers and

charter operators would fol- |

THE TRIBUNE

“We were bold enough to
do it. I don’t know if anyone
else will. It makes sense to
both of us, which is why we’re
doing it,” he added.

In a speech to the Kiwanis
Club of Fort Montague last
night, FNM Senator Anthony
Musgrove said successive gov-
ernments had undermined pri-
vate airlines such as SkyBa-
hamas by subsidising Bahama-
sair’s competition with them.

Noting that Bahamasair’s
Exuma round-trip air fare

- stood at $190, the same as Sky-

Bahamas and only $20 more
than the $170 charged by
Western Air, Mr Musgrove
said: “While we should
applaud these two Bahamian
companies and the others who
have invested, in some
instances, millions of dollars in
pursuing the Bahamian dream,
we should also note that this
industry is being undermined
with the assistance of the visi-
ble hand of government, with
the possibility of creating bad
blood between young and
promising businesses.

“In fact, the chief executive
of SkyBahamas has publicly
voiced his concern that Sky’s
financial survival is. daily under
threat due to the increase in
competition, coupled with the
increasing costs of fuel, which
closed on Monday, April 21,
2008, at a whopping $117.48

low his lead. per barrel.”

NOTICE

NOTICE is hereby given that RONY DUROSEAU of
MARSH HARBOUR, ABACO, 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 23rd 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 ELYSEE ARTY of #84

WASHINGTON STREET, NASSAU, BAHAMAS is

applying to the Minister responsible for Nationality and
- Citizenship, for registration/naturalization as a citizen |
of The Bahamas, and that any person who knows. any
reason why registration/ naturalization should not be
granted, should send a written and signed statement
of the facts within twenty-eight days from the 23rd day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.










NOTICE

IN THE ESTATE OF FREDERICK
GEORGE HERMAN YOUNG, Late of
The Cottage Estate, Little Exuma,
Bahamas.

NOTICE is hereby given that all persons having
any claim or demand against the above Estate
are required to send the same duly certified in
writing to the undersigned before the Closing

Date after which the Trustee will proceed to

distribute the assets having regard only to the

claims of which he shall then have had notice.

Beneficiaries are to forward by fax or email the

following information:

1) Name of beneficiary.

2) The beneficiary’s Fractional Share.

3) The amount of Legal Expenses incurred in
obtaining Order For Sale.

4) Where the beneficiary is not a party named in
the Second Schedule of the 1967 Settlement, a
probate document (resealed if foreign) and
photocopy of passport.

5) Payment instructions:

The Trustee reserves the right to reject any claim
made after the 9" June, 2008 Closing Date.

The Trustee of The Cottage Estate,
Little Exuma

c/o JOSEPH C. LEDEE

Chambers

Suite No. 6, Grosvenor Close
Shirley Street

P. O. Box N-8887

Nassau, Bahamas.

Telephone/Fax No. 1-242-325-3758
Email: j.ledee@yahoo.com


THE IRIBUINE

inancial

services law

changes under review

m@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

FOLLOWING an intense
consultation period, industry-
compiled recommendations for
amendments to the Banks and
Trust Companies (Regula-
tions) Act are now at the
Attorney General’s Office for
review, before going to Cabi-
net and, ultimately, Parliament.

After industry input during
the consulation process, which
ended in January 2008, two

Bahamian achieves private bank firsts

FROM page 1B

opportunities for its staff.

“T think.my appointment
does not necessarily make a
statement, because other
women have also held high
positions. But it serves as con-
firmation of what other
Bahamians in high positions
have achieved before me. It
shows that if you give a
Bahamian an opportunity, we
have the skills to hold the posi-
tion,” Mrs Horton said.

She acknowledged that in
many instances, foreign-head-
quartered companies preferred
to hire someone from their
own country, usually simply
because they knew and were
more comfortable with that
‘person. It did not mean that a
Bahamian would be unable to
perform those duties.

Mrs Horton added that in
contrast to what might have

reccomendendations for fur-
ther amendments were made
in regard to the temporary
Business Operations regula-

tions.

These refer to the laws
under which a foreign bank
and trust company can estab-
lish operations on a temporary

basis in the Bahamas, in the’

event of a natural disaster or
other serious event in their
home country disrupting their
business operations.

It was recommended that
the definition for the relevant
jurisdiction include countries

happened in the past, many
more Bahamians now the edu-
cational and professional qual-
ifications - and experience -
that makes them qualified to
perform top executive tasks.

“As the first Bahamian to
hold this post there is pressure
that I put on myself, because I
realise that this is an opportu-
nity to create a path for others,
so I feel that burden and I
don’t want.to mess that up
because by my appointment
they have shown great faith in
me,” she said.

that lie within the hurricane
belt, as some of these nations
may not have been previously
been included.

Amendment

Further, it was recommend-
ed that the amendment not
apply to money transmission
service providers, only foreign
banks.

After consulation with the
Bahamas Institute of Charted
Accountants (BICA) and
Bahamas Association of Com-
pliance Officers (BACO), rec-

Mrs Horton, who graduated
from Kingsway Academy,
received her Bachelor’s
Degree from St Augustine
College in North Carolina, and
her MBA from the University
of Miami.

She first started at Lombard
in May 2004 as a financial
accountant, and then became
head of finance until 2007,
when she. accepted her current
post.

Mrs Horton is married with
two children, and said that as a
professional, mother and wife,

Ran scl Nae



ee ATRL

‘COMMONWEALTH OF THE BAHAMAS...
IN THE SUPREME COURT
Common Law and Equity Division .

2007
CLE/equ/00648

ommendations pertaining to
the rights and duties of exter-
nal auditors were also submit-
ted to the Attorney General’s
office. —

Karen Rolle, of BACO,
outlined the proposed legisla-
tive recommendations during a

tral Bank of the Bahamas.
Also speaking.at the Forum

on behalf of the Central Bank,.

Claude Haylock outlined the
procedure for the bank’s onsite
inspections.

He explained that the Cen-
tral Bank and the Securities

Commission will, in some cas-
es, perform joint on-site
inspections as a convenience.

While the inspectors would
in most cases submit their find-
ings together at one time, the
results would be the separate
findings for the two regulators.

half-day forum on Money
Transfer Businesses and a
Risk-based approach to Know
Your Customer (K YC) verifi-
cation and on-site examina-
tions. The half-day seminar
was held at the British Colonial
Hilton yesterday, and co-spon-
sored by BACO and the Cen-

and said that while she has had
to give up family time for her
career, it was important to
have a Strong, supportive fam-
ily base.

THE WESTIN

GRAND BAHAMA ISLAND
OUR LUCAYA

Resort

EXCELLENT CAREER OPPORTU

Director of Engineering

Candidate will be responsible for leading a 70-member
team and the overall management of and maintenance of
the entire’hotel. Should be highly skilled in all aspects of
engineering, inclusive of mechanical, electrical, HVAC
systems and related equipment in accordance with energy
conservation and preventative programs.

A minimum of seven to ten years management experience
in a major hotel facility within the engineering field. A
Bachelors degree in Engineering. Technological proficiency

Director of Golf

“capacity, exemplary customer.and human resources skills,

SWAN ae

ETM Le eRe Tele a iear
professional person. Must be computer

literate and have good customer relations.

Please fax resume to: 394-3885







iS,
¢
%
ae”.

‘Sheraton

The qualified applicant should be certified from a recognized
PGA program and must be able to demonstrate a high level of
competence in playing the game. The position involves working
with a team of dedicated teaching professionals within a golf
school and the daily management of two [8-holes golf courses.

A minimum of ten years golf experience in a managerial

proven experience in cost and revenue management,
forecasting and training.

IN THE MATTER OF all that piece parcel or lot of land situate in the Eastern
District of the Island of New Providence one of the Islands of the Commonwealth
of The Bahamas and being Lots Number Eighteen (18) and Number Twenty
(20) of a Subdivision called and known as Perry Subdivision and also known.
as Redland Acres Subdivision situate on the Southern Side of Soldier Road in
aforesaid Island of New Providence one of the Islands of the Commonwealth

of The Bahamas.

in computer programs, Excel and Microsoft word.

Asian Sous Chef Executive Sous Chef

This successful candidate will assist the executive Successful candidate will support and assist the executive
chef and oversee the day-to-day culinary chef by overseeing the day-to-day culinary and banquet
operations of the hotel’s “fine dining” room, train operations and will train and supervise staff and monitor
AND and supervise staff and monitor food quality. food quality.

Position requires creativity in culinary, budgetary

analysis capabilities. Knowledge in writing menus, sanitation
standards and applicable health codes. Minimum of

3 years experience as an executive sous chef in similar

size operation with multiple food outlets in excess of

75,000 square ft. Culinary or apprenticeship program
preferred.

Sales Manager

This aggressive, result oriented candidate will be responsible
for the soliciting of group business that will enable the hotel
to meet and/or exceed revenue goals in room and food and
beverage and will be required to conduct property site
inspections.

IN THE MATTER OF The Quieting Titles Act, 1959 A minimum of two years experience as an Asian
Chef de cuisine in a resort or hotel with multiple food
outlets and 500+ rooms. Thorough knowledge in Thai,
Chinese, Japanese and Korean cuisines. Bachelors

or culinary degree from an accredited institution

preferred.

AND



IN THE MATTER OF The Petition of TERRY DELANCEY

Assistant Controller

Will lead, direct and manage the accounting
Department and produce accurate, efficient and
relevant operational information for the Resort.
perform regulatory audits, formulation, compilation
and presentation of forecasts, budgets, financial
statements and reports.

TERRY DELANCEY, the Petitioner claims to be the owner in fee simple
possession of the pieces parcels or lots of land hereinbefore described and has made
application to the Supreme Court of the Commonwealth of The Bahamas under
Section 3 of the Quieting Titles Act to have the title to the said pieces parcels or
lots of land investigated and the nature and extent thereof determined and declared
in a Certificate of Title to be granted by the Court in accordance with the provisions
of the Act.

Basic computational and budgetary analysis capabilities
required. Thorough working knowledge in Excel, Delphi
and Microsoft word. Extensive knowledge of sates and hotel
and competitive market. Bachelor’s degree preferred. At
least 3 years experience in hotel sales preferred.

A minimum of 5 years experience in accounting,
finance or related field with at least 3 years

experience in the management and administration of
an operational or accounting department. Proficient in
Excel, Word and Delphi. Bachelor’s Degree preferred.

Pastry Chef

Candidate will manage and coordinate pastry
production of a volume food operation with a minimum
of 8 restaurant outlets and banquet operation in excess
of 90,000 square feet indoor/outdoor with emphasis on
plated and moder buffet set up techniques.

Copies of a diagram or plan showing the position boundaries and shape marks
and dimensions of the said pieces parcels and lots of land may be inspected during
normal working hours at the following places:

(a) The Registry of the Supreme Court, Ansbacher House, East Street in the
City of Nassau, New Providence, The Bahamas.

(b) The Chambers of Davis & Co., British Colonial Hilton, Centre of Commerce,
4th Floor Suite 400, One Bay Street, Nassau, The Bahamas, Attorneys for
the Petitioner.

NOTICE is hereby given that any person or persons having a right of Dower or
an adverse claim not recognized in the Petition shall within thirty (30) days after
the appearance of the Notice herein file in the Registry of The Supreme Court in
the City of Nassau aforesaid and serve on the Petitioners or the undersigned a
say of his claim in the prescribed form, verified by an Affidavit to be filed
therewith.

Extensive knowledge and experience in sugar and
chocolate work, pastillage showpieces and must

be capable of preparing dessert, plated and buffet

presentations. Culinary degree from an accredited

Failure of any such person to file and serve a statement of claim within thirty (30) Institution preferred.
days herein will operate as a bar to such claim.

We offer exceptional pay and benefits.
Qualified applicants should submit their resumes in writing no later than May 15, 2008 to:
ourlucayajobs@starwoodhotels.com
The Westin and Sheraton Grand Bahama Island Our Lucaya Resort
Attn: Human Resources
P.O. Box F-42500
Freeport, Grand Bahama

Dated this 3â„¢@ day of April A.D., 2008

DAVIS & CO.
Chambers
4) Floor, Suite 400
British Colonial Hilton
Centre of Commerce
One Bay Street
Nassau, The Bahamas














PAGE 6B, WEDNESDAY, APRIL 23, 2008

@ Chartered Accountants g8 Phone. 1242)
One Montague Place Fan
Third Floor Ww ey conn

«Fast Bay Strovt
BO. Box N-5231
Nassau, Bahamas

=i] FRNST & YOUNG

INDEPENDENT AUDITORS’ REPORT TO THE SHAREHOLDER OF
ANSBACHER (BAHAMAS) LIMITED

We have audited the accompanying consolidated balance sheet of Ansbacher (Bahamas) Limited and its subsidiaries (the
Bank) and a summary of significant accounting policies and other explanatory notes.

Management’s Responsibility for the Balance Sheet

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 control
relevant to the preparation and fair presentation of a balance sheet that ts 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. 2 .

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 tu obtain reasonable assurance whether the financial statements are free from material 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 31 December, 2007 in accordance with Intemational Financial Reporting Standards.

Grunt

March 25, 2008
A member firm of Frnst & Young Global Limited
Ansbacher (Bahamas) Limited

Consolidated balance sheet
At 31 December 2007







2007 2006
Notes sooo. $000

Assets .
Cash and balances with central bank $ 131 $ 43
Due from banks 3 268,086 : 259,084
Loans and advances to customers 4 87,015 74,361
Financial investment - available-for-sale 5 , 5 2,004
Property and equipment 6 845 916
Intangible assets 7 16 14
Other assets” Big 2,952 2 2. 2,358,
Total assets $ 359,050 s 338,778
Liabilities and Shareholder’s Equity
Liabilities 7
Customer deposits 9 $ 337,712 $ 319,192
Other liabilities, . 10 3,812 4,064
Subordinated liabilities ‘ 11 _. 3,632, , 3,832.
Total liabilities \ 345,156
Shareholder’s equity
Called up share capital 12 3,000 : 3,000
Share premium account i : 13 oe ce, 1,000 |. 51000
Statutory loan loss reserve : ia ania “810 oe 230.
Retained earings : Soe cote, 7,167
Total shareholder’s equity 13,894 11,890
Total liabilities and shareholder’s equity : $ 359,050 | $ 338,778

ES

Contingent Liabilities and Commitments (note 14)

Approved By The Board



Lott dle

Director





Director

Ansbacher (Bahamas) Limited
Notes to the consolidated balance sheet
31 December 2007

1. Corporate information

Ansbacher (Bahamas) Limited and its subsidiaries (the Bank) are incorporated under the !aws of the Commonwealth of
the Bahamas. The Bank is licensed under the Banks & Trust Companies Regulation Ac: Chapter 287, 2000 to carry on
banking and trust business. The Bank’s principal activities comprise: private anc sbecialist banking; wealth protection
and management; and fiduciary services. The registered office of the Bank is low..: - «* Ansbacher House, Bank Lane,
P. 0. Box N-7768, Nassau, Bahamas,

The consolidated balance.sheet of the Bank as of December 31, 2007 was authorise, ‘ur issue by the board of the
directors on March 25, 2008. .

The Bank’s ultimate holding company is Qatar. National Bank SAQ, which is incorpo:.:.~i nm Qatar. The immediate
holding company is Ansbacher Overseas Group Limited (the Parent), a company incorporated in Guern. ., 5
smallest higher group in which the consolidated balance sheet of the Bank is consolidated is headed by QNB
Intemational Holdings Limited sarl, a company incorporated in Luxembourg.



The principal accounting policies adopted by the Bank are set out in note 2.

2. Summary of Significant Accounting Policies

Statement of compliance
The consolidated balance sheet has been prepared in accordance with international Financial Reporting Standards
(IFRS). : ;

Basis of preparation Fs

The balance sheet has been prepared under the historical cost convention as modified by the inclusion of certain
financial instruments at fair valuation. The balance sheet is presented in US Dollars, which is the Bank’s functional
currency, and all values are rounded to the nearest thousand dollars ($000) except when otherwise indicated.

Basis of consotidation

The consolidated balance sheet includes. the balance sheets of the Bank and-its subsidiaries. Subsidiaries are’
consolidated from the date of their ecquisition, being the date on which the Sank obtains control, and continue to be
consolidated until the date that such control ceases. Control Comprises the power to govern the financiat and operating
policies of the investee so as to obtain benefit from its activities and is achieved through direct or indirect ownership
of voting rights. The balance: sheets of subsidiaries are prepared for the same reporting year as the Bank, using
consistent accounting policies.

All intra-group balances are eliminated in full.

Listed below are the names of the wholly-owned subsidiary undertakings of the Bank at 31 December 2007.

Country of
incorporation/continuation

Principal.activities

Ark Limited : Bahamas
Baird Limited British Virgin Islands / Bahamas
Bitmore Limited Bahamas
Boyne Limited British Virgin Islands / Bahamas
Chester Asset Holdings Bntish Virgin Islands / Bahamas
Dunmore Properties Limited Bntish Virgin Islands / Bahamas

Trustee and nominee services
Nominee services

Trustee and nominee services
Nominee services

Custodian services

Custodian services

Significant accounting judgements and estimates

in the process of applying the Banr's accounting policies, management has used its judgements and made estimates in
determining the amounts recognised in the balance sheet. The most significant use of judgements and estimates are as
follows:

Fair value of financial instruments

Where the fair values of financial asset: and liabilities recorded «ix the balance sheet cannot be derived from active
markets, they are determined usirg a vanety of calculation techniques that inciude the use of mathematical models.
The input to these models is taken from obs27-able market: where possible. hut where this is not feasible, a degree of

judgement is required in establishing fair values .
Impairment losses cn loans and advances °

The Bank reviews its problem loans and advar impairment shouid he secorced. In pariicuiar, -ucpement 4, manageren is required in the estimation of the amount
and timing of future cash flows when determinino the tove! cf a.cwance required. Such estimates are based on
assuriptions aur, s umber of facto.y and actue! results may differ, -esulting in future changes to the al‘owance.

50? 6000
502 6090



THE TRIBUNE

Impairment of equity investments
The Bank treats available-for-sale investments as impaired when there has been a significant or prolonged decline in
the fair value below its cost or where other objective evidence of impairment exists. The determination of what is

‘a1gnificant’ or ‘prolonged’ requires judgement.

Foreign currencies
-tonetary assets and liabilities denominated in foreign currencies are translated at the functional currency rate of

exchange ruling at the balance sheet date. Non-nonetary items that are measured in terms of historical cost in a
foreign currency are translated using the exchange rate at the date of the initial transaction.

Financial Assets

Financial assets in the scope of IAS 39 are classified as financial assets at fair value through profit or loss; loans and
receivables; held to maturity investments; or as available-for-sale financial assets, as appropriate. The Bank
determines the classification of its financial assets at initial recognition and re-evaluates this designation at each
financial year end. All financial investments are measured initially at their fair value, being the transaction price plus,
in the case of financial assets not at fair value through profit or toss, directly attributable transaction costs.

All regular way purchases and sales of financial assets are recognised on the trade date, being the date that the Bank
commits to purchase or sell the asset. Regular way transactions require delivery of assets within the timeframe
generally established by regulation or convention in the marret. place. The subsequent measurement of financial
assets depends on their classification, as follows: ”

Financial assets at fair value through profit cr loss

Financial assets classified as at fair value through profit or loss on initial recognition on inception are included
in this category when certain critena are met. Financial assets classified. as at fair value through profit and
loss are carried in. the balance sheet at fair vaive with gains or losses on financial assets at fair value through

profit or loss being recognised in the current period.

Loans and advances and due from banks

Loans and advances and due from banks are non-derivative financial assets with fixed or determinable
payments that are not quoted in an active market, do not qualify as trading assets and have not been
designated as either at fair value through profit and loss or available-for-sale. After initial measurement, such
assets are subsequently measured at amortised cost using the effective interest method, less allowance for
impairment, if the time value of money is significant. The Bank holds collateral in the form of cash; securities
or real property on each of the outstanding amounts in accordance with its internal policies.

Available-for-sale financial investment ' . es 7
Available-for-sale financial investments are those which are designated as such or do not qualify to be

Classified as at fair value through profit and loss, loan and advances or held-to-maturity. After initial
recognition available-for sale financial assets are measured at fair value with unrealized gains or losses being
recognised as a separate component of equity until the investment is disposed of, derecognised or until the
investment is determined to be impaired at which time the cumulative gain or loss previously reported in
equity is recognized in the period of derecognition.

Determination of Fair values

The fair value of quoted investments is determined by reference to bid prices at the close of business on the
balance sheet date. Where there is no active market, fair value is determined using valuation techniques. These
include using recent arm’s length market transactions; reference to the current market value of another
instrument which is substantially the same; discounted cash flow analysis and pricing models.

Impairment of financial assets

The Bank assesses at each balance sheet date whether a financial asset or group of financial assets is impaired. A
financial asset or a group of financial assets is deemed to be impaired if, and only if, there is objective evidence of
impairment as a result of one or more events that has occurred after the initial recognition of the asset (an incurred
‘loss event’) and that loss event (or events) has an impact on the estimated future cash flows of the financial assets or
group of financial assets that can be reliably estimated.

Loans and advances and due from banks ;

If there is objective evidence that an impairment loss on loans and due from customers has been incurred, the
amount of the loss is measured as the difference between the asset’s carrying amount and the present value of
estimated future cash flows (excluding future credit losses that have not been incurred) discounted at. the
financial asset’s original effective interest rate (i.e. the effective interest rate computed at initial recognition).
Interest on loans and advances is‘accrued until such time as reasonable doubt exists about its collectability;
until all or part of the loan is provided for. If, in a subsequent period, the amount of the impairment loss
decreases and the decrease can be related objectively to an event occurring after the impairment was
recognised, the previously recognised impairment loss is reversed.

Available-for-sale financial investments ‘
If an available-for-sale financial investment, which is an equity investment classified as available-for-sale, is
impaired, as evidenced by a significant or prolonged decline in the fair value of the investment ‘below cost,
the cumulative loss, previously recognized in equity is transferred from equity and recognized in the current
period. Reversals in respect of equity instruments classified as available-for-sale are recognised directly in
equity. y
Derecognition of financial assets and financial liabilities
A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is
derecognized when: ’ ~ ;
«the rights to receive cash flows from the asset have expired; :
+ the Bank retains the right to receive cash flows from the asset, but has assumed an obligation to pay them
in full without material delay to a third party under a ‘pass through’ arrangement; ar
* the Bank has transferred its rights to receive cash flows from the asset and either (a) has transferred
substantially all the risks and rewards of the asset, or (b) has neither transferred nor retained substantially
all the risks and rewards of the asset, but has transferred control of the asset. .
When the Bank has transferred its rights to receive cash flows from an asset and has neither transferred nor rétained
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 repay.

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
Where an existing financial 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.

Derivative financial instruments ;
The Bank uses derivative financial instruments such as foreign exchange contracts to hedge its risks associated with foreign
currency fluctuations as a part of its client-related trading activities. Such derivative financial instruments are initially
recognised at fair value on the date on which a derivative contract is entered into and aré subsequently remeasured at
fair value. Derivatives are carried in other assets or other liabitities. .

Trade and other receivables

Trade receivables are recognised and carried at the lower of their original invoiced value and recoverable amount

Provision is made for any amount outstanding for more than six months Balances are written off when the probability of

recovery s is assessed as,being remote. .

Cash and cash equivalents

Cash and short term deposits in the balance shee i
7 t comprise cash at banks and in hand and short term depos
original maturity of three months or less. eS ee

Intangible assets

Intangible assets Scnsist of software and are carried at cost less accumulated amortisation, Intangibles assets are
ncaa on a straight-line basis over three years. The Carrying amounts of intangible assets are reviewed at each
‘balance’sheet date to assess whether they are recorded in excess of their recoverable amounts,

neti: : and where carryi
values exceed this estimated recoverable amount, assets are written down to their recoverable amo *

unt,

Property and equipment

Property and equipment are stated at cost less accumulated depreciation and accumulated impairment in value
Depreciation is calculated on a straight-line basis as follows: i ,
Leasehold Improvements

5 years
Fixture, Office Equipment and Computers a

3- 10 years

ane carrying amounts of property and equipment are reviewed at each balance sheet date to assess whether they are
recorded in excess of their recoverable amounts, and where carrying values exceed this estimated recoverable amount
assets are written down to their recoverable amount . '

Impairment of non-financial assets

The Bank assesses at each reporting date, or more frequently if events or circumstances indicate that the
Carrying value may be impaired, whether there is an-indication that a non-financial asset may be impaired. If
any such indication exists, or when annual impairment testing for an asset is required, the Bank wikis an
estimate cr the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s cash-
generating unit's fair value less costs to sell and its value in use and is determined for an individual asset, ies
the asset does not generate cash inflows that are largely independent of those from other assets or
assets. Where the carrying amount of an asset exceeds its recoverable amount, the asset is considered fs nee
and is written down to its “ecoverable amount. In assessing value in use, the estimated future cash an are

discounted to their present value using a discount rate that reflects current market assessments of the time
value of money and the risks specific to the asset.

An assessment is made at each reporting date as to whether there is any indication that previously recognised
impairment losses may no longer exist or may have decreased. If such indication exists, the recoverable amount
is estimated. A previously recognised impairment loss is reversed only if there has been a change in the
estimates used to determine the asset’s recoverable amount since the last impairment loss was recognised. If
that is the case the carrying amount of the asset is increased to its recoverable amount. That increased einen

cannot exceed the carrying amourt that would have been determined, net of depreciation, had no impairment
loss been recognized for the asset in prior years.

Pensions

The Bank operates a post-retirement benefit scheme for its employees, a defined contribution pension plan. A defined
contribution plan is a pension plan into which the Bank pays fixed contributions of 15% of each employee’s salary: there

1s no legal or constructive obligation to pay further contributions. Under the provisions of the plan, each employee
contributes a minimum of 7.5% of their annual salary to the plan.

Provisions
A provision is recognised where the Bank has a legal or constructive obligation as a vesult of a past event and it is
probable that an outflow of economic benefits will be required to settle the obligation. If the effect is material,

expected further cash flows are discounted using a current rate that reflects, where appropriate, the risks specific to
the liability. ,

Where the Bank expects some or all of a provision to be reimbursed, for exa:aple under an insurance policy, the
reimbursement is reccgnised as a separate asset but only when recovery is virtually certain.

Income taxes °
There are no income taxes in.> ad on the Bank in the Commonwealth of The Bahamas.

Assets under management and trust administered assets

The consolidated balance sheet does not include assets under management for clients and assets held in trusts
administered by the 2ank. No accourt is taken + this consolidated balarice shect of assets and liabilities of clients
administered by the Bank as custsdian, trustee, o: nominee, or its subsidianes as custodian, trustee, or nominee,
other than those assets and abilities which relate to banking services providea oy the Bank or its subsidianes for
their clients, The Bunk nas 2 fiduc:ary obti2at'on to its customers for the administration of these accounts.
: 23, 2008
THE TRIBUNE | WEDNESDAY, APRIL 23 PAGE 7B

; :
Adoption of IFRSs during the year 9. Customer deposits
The Bank has adopted the following new and amended IFRSs and IFRIC interpretations during the year. Adoption of

31 December 31 December

these revised standards and interpretations did not have any effect on the financial performance or Position of the 2007 2006
Bank. They did however give rise to additional disclosures, including in some cases, revisions to accounting policies. $000 $000
© IFRS7 Financial instruments: Disclosures $ 56,505 S$ 64,613
2 IAS1 Amendment — Presentation of Financial Statements Current accounts 245 165
co elect 280,962 254,414
The principle effect of the changes to the disclosures in the balance sheet are as follows: ume eeposiks $ 337,712 5 319,192
IFRS 7 Financial Instruments: Disclosures ae 10. Other liabilities
This standard required disclosures that enable users of the balance sheet to evaluate the significance of the Bank's
financial instruments and the nature and extent of risks arising from those financial instruments. The new disclosures 31 December 31D bi
are included throughout the financial statements. While there has been no effect on the financial position or results, 2007 7 Tseo6
comparative information has been revised where needed. $000 $000
. IAS 1 Amendment - Presentation of Financial Statements ‘ ! bl 5 932 5 825
This amendment requires the Company to:make new disclosures to enable users of the balance sheet to evaluate the Pe aes eames * 446t ~ Sano
Bank’s objectives, Policies and processes for managing capital. The new disclosures are shawn in note 20. Accounts and fees payable 1,367 1/604
5 5 Fi Sundry pavables 52 35
Future changes in accountin licies
3 Po! Other provisions . : 220





Early adoption i S 3,812 S$ 4,064
The Bank did not edrly adopt any new standards during the year. Sen fo ge pe

Due to parent and fellow subsidiary undertakings $ 32 $ 33
IFRSs and IFRIC Interpretations not yet effective es

Th no} he f IFR stations that ha’ i ive: . . -
© Bank has not adopted the following IFRSs and IFRIC Interpretations that have been issued but are not yet effective: ‘The other provisions related to certain legal actions fer which the Bank considered there to be a Possible financial

impact. Significant accounting judgements and estimates have been made due to the uncertainty and timing of any
future cash flows associated with this litigation.

IFRS 8 Operating Segments, requires disclosure of information about the Bank’s operating segments and replaced the
requirement to determine primary, (business) and secondary (geographic) reporting segments in the Bank. This
standard becomes effective for annual periods beginning on or after 1 January 2009, and as a result, certain disclosures
may be added to the Bank’s financial statements upon adoption.

IAS 23 Borrowing Costs, was issued in March 2007, and becomes effective for financial years beginning on or after 1 11, Subordinated liabilities
January 2009. This standard has been revised to require capitalization of borrowing costs when such costs related to a’
qualifying asset. The adoption of this interpretation is not expected to have an impact an the consolidated financial

. On 10 November 2004, the Bank entered into a subordinated loan agreement with its Parent. The Loan is denominated
statements when implemented in 2009.

in US dollars, due in 2013 and accrues interest at a rate of LIBOR plus 0.9%. The loan is unsecured and claims in
respect of it are subordinated to the claims of all other creditors. The balance of the loan at December 31 , 2007 was _
$3,632 (2006: $3,632). Accrued interest related to the loan at December 31, 2007 was $31 (2006 - $33).

IFRIC 11 was issued in November 2006, and becomes effective for financial years beginning on or after 1 March 2007.
This interpretation addresses group and treasury share transactions related to share-based payments to employees. As
equity instruments are issued to employees in accordance with the employee equity participation plans, the
interpretation may have an impact on the Bank. :

IFRIC 12 was issued in November 2006, and becomes effective for financial years beginning on or after 1 January 2008. 12. Called up share capital

This interpretation gives guidance on the accounting by operators for public-to-private service concession
arrangements. This interpretation is not expected to be relevant for the activities of the Bank. 31 December
2007 2006
IFRIC 13 was issued in June 2007 and becomes effective for annual periods beginning on or after 1 July 2008. This : , $000 $000
interpretation requires customer loyalty award credits to be accounted for as a separate component of the sales
transaction in which they are granted and therefore part of the fair value of the consideration received is allocated to
the award credits and deferred over the period that the award credits are fulfilled. The adoption of this interpretation

31 December

Authorised, issued and filly paid: :
1,000 Class A ordinary shares of $50 each (2006: 1,000 shares) $ 50 S 50





is not expected to have an impact on the Bank’s financial statements when implemented in 2008. 59,000 Class B ordinary shares of $50 each (2006: 59,000 shares) ceeene inn fe 950 2,950
$__ 3,000 $3,000

IFRIC 14 was issued in July 2007 and becomes effective for annual periods beginning on or after 1 January 2008. This t
interpretation provides guidance on how to assess the limit on the amount of surplus in a defined benefit scheme that
can be recognized as an asset under IAS 19 Employee Benefits. The adoption of this interpretation is not expected to
have an impact on the Bank’s financial statements when implemented in 2008.

The Class A shares carry all of the voting rights in the Bank. Both classes of shares carry equal rights to participate in
dividends.
13. Share premium

3. Due from banks Share premium represents proceeds received for equity share capital in excess of the nominal value per $50 ordinary



shares. .
31 December 31 December
2007 2006 : 7 :
$000 31 December 31 December
eee 2007 2006
Repayable on demand , : 5 43,038 5 46,597 $000 $000
Other deposits with fixed maturities - 225,048 212,487
ete ee Share premium account: s
$ 268,086 S$ 259,084 40,000 Class B ordinary shares of $25 each $ 1,000 $ 1,000
The above amounts include: ae . . : ; , . :
Due from parent and fellow subsidiary undertakings $ 212,929 S:, 183,452 . Share premium may be converted to ordinary shares of the class for which the premium was paid by eons of a special
See resolution of the Board of Directors. Upon conversion, share premium shall have the same rights and privileges of the

relevant class of ordinary shares.

4. Loans and advances to customers
14. Contingent liabilities and commitments

31 December 31 December At the balance sheet date, the contract amounts and risk weighted amounts or replacement costs of contingent









_ 2007 2006 liabilities and commitments were:
$000 $000
Residential mortgages S 62,841 $ 49,969 a4 December. 3 Pecsmeer
one: backed loans 7 17,390 18,080 contract contract
——___§,834 9 6,382__ amount amount
Gross loans and advances 87,065 74,431 . sooo $000
?
Less: Allowance for impairment losses (50) (70) ed .
Contingent liabilities: 7
: ! Guarantees and irrevocable letters of
Total loans and advances to customers $ 87,015 $74,361 eal ; S 110 $ -80
* Commitments:
. Undrawn formal facilities, credit lines and
31 December 31 December other commitments to lend .
2007 2006
$000 $000 - one year and over : S 1,539 $ 2,003
Concentration of credit risk * - less than one year 16,909 15,828
Property and real estate : $ 62,841 | S > 49,969 7 18,448 :
Other 24,224 24,462 _
87,065 74,431 .
The Bank is a party to certain financial instruments with off-balance sheet risk, in the normat course of business, to
Less: allowance for impairment/ provisions (50) (70) * meet the financial needs of customers. These financial instruments include acceptances and guarantees, commitments
— 587,015 $74,361 to extend lines of credit, and commitments to onginate loans and mortgages. Exposure to loss is represented by the
: a contractual amount of each of the instruments. Where guarantees are issued on behalf of customers, the Bank either ~
4 37 peagereds 31 Saas ‘§ holds collateral against the exposure or has ‘the right of recourse to the customer.
Ki $000 $000 8
Geographical concentration of risk 15, Fair value of financial instruments
North America $ 41,599 $ 27,009
Bahamas ? 22,369 26,202 : : . : ars ee
Europe . e 13,790 16,627 Set out below is a comparison by class of the carrying amounts and fair values of the Bank’s financial instruments that
Other Countries , 9,347 4523 are carried in the balance sheet. The table does not include the fair values of non-financial assets and non-financial
$87,015 $74,361 liabilities,
The fair value of collateral that the Bank holds relating to loans individually determined to be impaired at December : : Carrying Fair Unrecognised Carrying Fair Unrecognised
31, 2007 amounts to $2,600 (2006 - $2,800). . : vaiue Value gain/(loss) value value gain/ (loss)
: ; 2007 2007 2007 2006 2006 2006
5. Financial investment 7s $000 $000 $000 $000 $000 $000
: Financial assets |
, Cash and balances with central bank 131 131 $cc: 42 42 S$:
tae Ss Due from banks 268,086 268,151 65 259,084 259,148 64
i ; 7 sal s : Loans and advances to customers . 87,015 87,427 412 74,361 74,803 442
Movement in available-for-sale financial investments Financial investments - available-for-sale 5 5 - 2,004 2,004 7
1 January § 2,004 S 12,903 Other assets 2,535 25535 . 2,156 2,156
Disposals (sale and redemption) (1,999) .(10,780)
Impairment : (119) Financial liabilities 92 319,258 66
Customer deposits 337,712. 337,824 112 319,1 19,2 6
At 31 December : $ 5 $ 2,004 Other liabilities 3,812 3,812 : 3,614 3,614
Subordinated liabilities 3,632 3,663 313,632 3,666 84
= . ised ch i realised 7
The Bond held by the Bank matured on 1 February 2007. The Bank collected the face value of the Bond. The eules ayer S620 : S606





pel investment, shares in the Bahamas International Stock Exchange (BISX} was vntten down to its fair value in
2006.

6. Property and equipment



The following describes the methodologies and assumptions used to determine fair values for those financial
instruments which are not already recorded at fair value in the financial statements.







Freehold * Fixtures, Assets for which fair value approximates carrying value
ane office For financial assets and financial liabilities that are liquid or having a short tern maturity (less than three months) it is
im ote ee Total assumed that the carrying amounts approximate to their fair value. This assumption is also applied to demand deposits
P $000 3000 $000 and variable rate financial instruments.
Cost:
At 1 January 2006 $1,317 $3,421 $4,738 Fixed rate financial instruments :
oe " i aS The fair value of fixed rate financial assets and financial liabilities carried at amortised cost are estimated by
® : - le : a comparing market interest rates when they were first recognised with current market rates offered for similar financial
ot December 2006, : lige 3/969 a instruments. The estimated fair Value of fixed interest bearing deposits is based on discounted cash flows using
Additions . a 88 175 2638 prevailing money market rates for debts with similar credit risk and maturity.
At 31 December 2007 1,416 3,740 9, 156 |
Depreciation: 16. Maturity analysis ‘of assets and liabilities
At 1 January 2006 964 2,625 - 3,589
267 399 : a .
Peisbaer ipa pbalot iat aad (11) (11) The table below shows an analysis of assets and liabilities analysed according to when they are expected to be
- - ae recovered or settled. .
At 31 December 2006 1,096 2,881 3,977 ;
Depreciation charge for the year 124 210 334 Subtotal Subtotal
Less less over
At 31 December 2007 220309743 then 3-12 than12 1-5 Over 5 12
Net book value at 31 December 2007 ad 5 196 5 649 5 845 Demand 3months months months years years — months Total
; : 2007 2007 2007 2007 2007 2007 2007 2007
232 684 $ 916
Net book value at a December 2006 ed > Oe $000 $000 $000 $000 $000 $000 $000 $000
Assets
Cash and balances with
7. Intangible assets
ngi central bank $ 131 $ on) - S$ 1315 $ - § S 131
Oue from banks 43,039 208,625 16,422 268,086 268,086
Intangible assets are comprised entirely of computer software. Loans and advances to - - - : - ;
customers 810 12,376 5,186 18,372 16,638 52,005 68,643 87,015
Financial investments
Total available-for-sale : : . . . 5 5 5
$000 Property and equipment : : : - - 845 845 845
Intangible assets : : 7 16 16 16
Cost: . : 7" Other assets 2952 2,952
agen 2006 - $ 1,2 9 Total assets $ 46,932 $221,001 __$ 21,608 $289,541 S$ 16,638 § 52,871 _$ 69,509 $ 359,050
; _ a 2 oe a aoe ene
Liabilities
: ; 1,286 .
At 31 December 2006 Customer deposits S 56,750 $247,466 S$ 33,496 $337,712 § - § - § § 337,712
Additions 7 aera) Other liabilities 3,812 : 3,812 : : : 3,812
31 bacner oH 1,295 Subordinated liabilities . wot 3,632, 3,632 3,632 _
‘Arnott iwations 3 Total liabilities 60,562 247,466 33,496 341,524 : 3,632 3,632 345,156
vartlaations bo eee ee oe: as ee one ute
At 1 January 2006, 1,198 Net (13,630) _$ (26,465) $111,888) _$(51,983)_$ 16,638 $49,239 $65,877 _$ 13,894
Amortization charge for the year pe Mn 7 : ae
At 31 December 2006 . - 1,272 : Subtotal Subtotal
; . , ess less over
Amortization charge for the year poe then 3-12 than 12 1-5 Over 5 12
At 31 December 2007 1,279 Demand 3months months months years years months Total
—. a6 7 2006 2006 2006 2006 2006 2006 2006 2006
Net book value at 31 December 2007 a $000 $000 $000 $000 $000 $000 $000 $000
14
Net book value at 31 December 2006 $ a Assets
Cash and balances with
central banks S 43° $ - § - § 43 $5 = § - § $ 43
8. Other Assets ‘ Due from banks 46,357 198,598 14,129 259,084 - 259,084
Loans and advances to
31 December 31 December customers 1,287 2,983 11,110 15,380 12,181 46,800 58,981 74,26"
2007 2006 Financial investments
$000 $000 available-for-sale . : 1,999 : 1,999 5 5 2,004
Property and equipment
‘
Interest receivable S 556 S 457 916 916 916
Prepayments and accrued income : 1,547 1,596 intangible assets , : 14 14 14
Sundry receivables 849 303 Other assets 2,356 23560 358
5 2,952 5 2,356 Total assets $__2U,043 $203,580 _$ 25,239 $278,862 _$ 12,181 $47,735 $59,916 $338,778
— a FIO 99 58 178
Liabilities ‘
x The amounts include: . C
wi 501 5 ustomer deposits 5 64,777 $237,720 §$ 16.671 $319,168 $ 24°=«$ : 24 319,192
Due from parent and fellow subsidiary undertakings poe Haeeett 1-1 es Lean Other liabilities 4,004 : 4064 7 5 4064
: 3 Subordinated liabilities’ _ : : 3,632 3,632 3,632
Total liabilities 68,841 237,720 16,671__ 323,232 24 3,632 3,656 326,888



Net —S_U8,798, 524,140) $8,568 $144,370) $12,157 _§ 44,103

890

$ 26,260 $ 11,
PAGE 65, WEUINCOUA!, Arnit cu, cvve

17. Risk Management

A summary of the Bank’s classification of its assets is shown below:

Available Non-

Loans/ for financial
receivables sale Assets Total
2007 2007 2007 2007
$000 $000 $000 $000

Note

Classification of financial instruments
Assets
Cash and balances with central banks $ 130 § : §$ 1 °§ #131
Due from banks 3 268,086 : - 268,086
Loans and advances to customers 4 87,015 87,015
Financial investments - Available-for-sale 5 : 5 . ;
Property and equipment : : -
Intangible assets
Other assets 8 2585 T2952
Total on balance sheet 357,766 1279 359,050.
Contingent liabilities , 19 110 110
Comsihnants 19918448 18 8
Total off balance sheet 18,558 ata - 18,558
Total : $376,324 _§ 5_ $1,279 _ $377,608

Total non-financial instruments $1,279

Total financial instruments $376,329

7 Avaliatle Non-
Loans/ for — financial
Receivables sale Assets Total
2006 2006 2006 2006
$000 $000 $000 $000
Note
Classification of financial instruments
Assets
Cash and balances with central banks $ 42 $ a °$ 1.§ 43
Oue from banks 3 259,084 . - 259,084
Loans and advances to customers 4 74,361 - 74,361
Financial investments - Available-for-sale 5 - 2,004 2,004
Property and equipment =~ rn : ee 20
Omer race : 8 2,156 . 200 2,356

Total on balance sheet

Contingent liabilities ‘ 19 gs $ - $ “$ 80
Commitments he Was a a
Total off balance sheet , 17,911 : : 17,911
Total ; $353,554 $2,004 $ 1,131 $356,689

Total non-financial instruments $1,131.

Total financial instruments $335,558 _

Risk is inherent in the Bank’s activities but it is managed through a process of ongoing identification, measurement and
monitoring, subject to risk limits and other controls. The Bank is exposed to credit risk, liquidity risk and market risk.
It fs also subject to operating risks. The independent risk control process does not include business risks such as
changes in the environment, technology and industry. They are monitored through the Bank strategic planning process.

Rish management structure .
The Board of Directors ts ultimatety responsible for identifying and controlting risks; however, there are separate
independent bodies for managing risks including; the risk committee, the credit committee, the asset and liability

committee and the group internal audit department. Each of the individual bodies are empowered to implement risk ,

strategies for maintaining controls over the portions of the Bank's operations for which they are responsible.

Risk mitigation .
As part of its overall risk management, the Bank may use derivatives and other instruments to manage exposures
resulting from changes in interest rates, foreign currencies, credit risks, and exposures arising from forecast
transactions. A daily report is given to Senior Management detailing inter-alia liquidity ratios; large exposures; currency
exposures; connected exposures and other regulatory and internal ratios. The Bank also actively uses collateral to
reduce its credit risks (see below for more details). ?

Excessive risk concentration

Concentrations arise when a number of counterparties are engaged in similar business activities, or activities in the
same geographic region, or have similar economic features that would cause their ability to meet contractual
obligations to be similarly affected by changes in economic, political or other conditions. Concentrations indicate the
relative sensitivity of the Bank’s performance to developments affecting a particular industry or geographical location.
in order to avoid excessive concentrations of risk, the Bank’s policies and procedures include specific guidelines to
focus on maintaining a diversified portfolio, Identified concentrations cf credit risks. are controtled and managed
accordingly. .

‘

The major risks associated-with the Bank’s business are:

Credit risk .
Credit risk ts the risk that one party to a financial instrument will cause a financial loss for the other party by tailing to
discharge their contractual obligations.
Credit risk arises principally from lending, investment and, to a lesser degree, on trading’ activity involving on and off
, balance sheet instruments. Ansbacher Group Credit Committee is responsible for setting book, portfolio and individual
. Credit limits. Exceptions are reported by the Bank's Credit Committee which is responsible for overseeing any remedial
action. :

The size of the balance sheet {s such that it is possible to éxamine each individual exposure to evaluate if specific
_ Provisions are necessary or adequate. The maximum exposure to credit risk is the carrying value of the assets.

Maximum exposure to credit risk without taking account of any collateral and other credit enhancements
The table below shows the maximum exposure to credit risk for the. components of the balance sheet, including
derivatives. The maximum exposure is shown gross, before the effect of mitigation through the use of collateral

agreements.

Gross mextmum Gross maximum





Notes exposure 2007 exposure 2006
Assets $000 $000
Cash and balances with central banks $ 130 $ Al
Due from banks 3 : 268,086 259,084
Loans and advances to customers 4 87,015 74,301
Financial investments - Available-for-sale 5 5 2,004
Other assets 8 hs 2533 28
Total 357,771 337,647,
Contingent liabilities 19 $ 110 $ 80
Commitments 19 18,448 vee TB
Total a a iB So Nh
Total credit risk exposure $376,329 $355,558

Risk concentrations and Maximum exposure to credit/counterparty risk :
Concentration of risk is managed by client/counterparty, by geographical region ai. \y ingustry sector. The maximum
Credit exposure to any client or non-banking counterparty as at 31 December 2((°7 v:as $4.2 million (2006: $4.4 million)
before taking account of collateral or other credit enhancements and nil (2008 nul) net of such protection, The
maximum settlement exposure to any bank counterparty as at 31 December 207? was $17.4 million. (2006:.$39.6

million) before taking account of collateral of other credit enhancements and $17.4 milligr (2006. $39.6m°"" ° of
~ Such protection, .
J

The Bank’s financial assets, before taking into account any collateral held.or other credit cahancéments can be
analysed by the following geographical regions:

Benking Banking
activities... activities
2007 2006
$ooo $000
prea ; 5 + $ 1,999
Other Gores aes i99,}40
peseiee East 2,048 1,733
‘aribbean ' 31,515, 37,712
North America 95,237 114,564
South America 2,567 :
Africa is 107
as seve tae cee 302,
“Total = owes - .

$376,329

An industry sector analysis of the Bank's financial assets, before and after taking into account coitateral held or other credit
enhancements, is as follows: : ,

Gross Net Gross Wet

Maximum maximum maximum Maximum

exposure exposure exposure exposure

2007 2007 2006 2006

$000 $000 $000 $000

Financial services $ 268,216 $ 268,216 $ ° 261,125 $ 261,125
Services 6,833 4,187 6,382 4,346.
Residential mortgages . 62,792 : 49,899 :
Asset backed loans 17,390 . 18,080 :
Other ceo 21098 21,098 20072 20,072
Total $376,329 $ 293,501" $ 355,558 7 $285,743

Collateral and other credit enhancements

The amount and type of collateral required depends on an assessment of the Credit risk of the counterparty.
Guidelines are implemented regarding the acceptability of types of collateral and valuation parameters.

The main types of collateral obtained are as follows:

° For securities lending, cash or securities,
e For retail lending, Mortgages Cer serident.al properties
° For yacht lending, mortgage over vese-1

‘Management Monitors the market vaiue of coliateral, requests additional cau:
agreement, and monitors the market waive of co!

for impairment losses.
X

atery: in accordance with the underlying
‘lateral obtained dunng :ts review of the adequacy of the allowance

$ 335,643 $ 2,004 $ 1,131 $338,778

, $395,958 -

et

inc

Credit quality per ciass of financial assets
The credit quality of financial assets 1s managed by the Bank using interna: credit ratings. The table below shows the
credit quality by class of asset for loan-related balance sheet lines, based on the Bank's credit ratig system.



r Past due nor impaired

Past due or
High Standard Sub- individually
grade grade standard impaired Total
2007 2007 2007 2007 2007
$000 $000 $000 $000 $000
Due from banks 5 240,119 _ $27,967 S$ : S$... +) $ 268,086 |
Loans and advances to customers :
Residential mortyages : 62,504 : 288 : 62,792
Asset backed loans : 17,243 : 147 17,390
Other pet ihe ete ASO BUT se hes i se uO 2, 101833
= 86,564 -- 451 87,015
Financial investments ;
Unquoted equity securities Oe ee ihe eles, eal ee oO nection gerne 2 oa
Totat $ 240,119 $ 114,531 $ 5 $ 5,106



Neither Past due nor impaired _





*° Sub- Past due or
High Standard stusdard individually
grade grade mortgages impaired Total
2006 2006 2006 2006 2006
$000 $000 $000 $000 $000
Due from banks S 232,198 _$ 27,018 ee ts S _ 7 $259,126
Loans and advances to customers
Corporate lending : : . :
Residential mortgages : 49,655 : 244 49,899
Asset backed loans : 17,917 : 163 18,080
Other : 6,373 : 9 6,382
. : 73,945 . 416 74,361
Financial investments ‘
Quoted - other debt : 1,999 : “* 1,999
Unquoted - equity securities an ect i Ae a as 6
Total . $ 232,108 $ 102,692 $ 6 S$ 416 $ 335,492
Credit risk exposure for each internal risk rating
Average Average
unsecured unsecured
Historical share of share of
default exposure Total exposure Total
rates 2007 2007 2006 2006
% % $000 % $000
Fitch equivalent grades
Papa i 0% 0% $ 24,410 0% $39,640
of to A- O% 0% 215,144 0% 194,466
; B+ to BBB- O% 0% 27,966 0% 26,930
B+ to B- 5% 6% 108,699 6% 94,442
apeadls 100% 110 00%





Total (Gross Maximum Exposure) S$ 376,329

The purpose of credit rating is to provide a simple, but effective and ongoing system of credit risk gradation by which
relative credit worthiness of borrowers may be identified and accordingly the level of credit enhancements, degree of
Monitoring, frequency of reviews, level of provisioning, and pricing can be determined. Credit rating would reflect
both the likelihood of default and any possibility of financial loss suffered in the event of default.

The credit quality of most borrowers is not constant over a period of time, but tends to undergo change. For this
reason changes in ratings must. reflect changes in the relative strength of the borrowers and their obligations.
Appropriate credit rating must be assigned tu every borrowing relationship. Such rating must be assigned at the time
of credit extension and. revizwed and updated in each review or if the situation warrants a change at any other time. A
rating change highlights a‘change in the credit worthiness, or corrects a Previous rating that did not fully reflect the
quality of the credit. Because of their very nature, Changes are to be expected more frequently among credits with

lower ratings than among credits of higher ratings. Changes to credit ratings are agreed by the Bank’s Credit
Comnuttee.

Tne assigning of a risk rating calls for professional judgement and can involve subjective elements. When a credit
rating fs assigned, all relevant information concerning the risk profit of the borrower ts considered including, but not
limited to, industry trends, economic climate, business environment and earning track record. Consideration is given
such less quantifiable items such as opinion of management, perception of trustworthiness and character, hidden
reserves, and other factors that may not be reflected in the financial statements.

Aging anatysis of past due but not impaired toans per class of financial assets

Less than -31 to 60 61 to 90 More than Total
30 days days days 91 days 2007
_. $000 $000 $000 $000 $000
Loans and advances to customers
Residential mortgages S 169 $ 8 S 8 §$ = . 103 S 288
Asset backed loans 147 : - : 147
Other NN 5 AO,
$ 332 $ 8 S 8 $ 103 S 451
Less than 31 to 60 <64't0-90") More’ thali “< Total”
30 days Days days 91 days 22006 ><
$000 $000 $000 $000 $000
Loans and advances to customers v0
Residential mortgages $ 187 Ss 45 $ 12 $ : $. 244
Asset backed loans 163 : : 163
Other Gi hao i aS A Ae re ede Coat ae eens, ingest
$359 S$ 45 $ 12, $ a) 416

Carrying amount per class of financial assets whose terms have been renegotiated

The table below shows the carrying amount for renegotiated financial asset, by class:

2007 2006
$000 $000
Loans and advances to customers
‘Residential mortgages ‘ $ 888 $180
Liquidity risk management

Liquidity risk 1s the nsk that the Bank is unable to meet its payment obligations when they fall due and to replace funds
when they are withdrawn, the consequence of which may be the failure to meet obligations to repay depositors and
fulfil commitments to lend.

Liquidity management within the Bank has two principle strands. The first is day-to-day funding, managed by
monitoring future cash flows to ensure that requirements can be met. This includes replenishment of funds as they
mature or 1s borrowed by customers. The second is access to intra-group funding from Ansbacher & Co. Ltd., London
and from QNB.

Analysis of financial liabilities by remaining contractual maturities *

The table below summarizes the maturity profile of the Bank’s financial liabilities based on contractual discounted
fepayment obligations. See note 21 “Maturity of assets and liabilities” for the expected maturities of these liabilities.





On Less then 3-12 #-5 Over
demand 3 months months years 5 years Total
$000 $000 $000 $000 $000 $000

Financial liabilities
As at 31 December 2007
Customer deposits $ 56,750 § 247,466 $ 33,496 §$ ae) $ 337,712
Other liabilities é 3,812 7 : : 3,812
Subordinated liabilities bce eh 3,632 ___3,632__
Total undiscounted financial :
abilittes 2007 $ 60,56. $ 247,466 §$ 23.496 § - $ 3,632 $345,156



a

On Less then 3-12 1-5 Over
demand 3 months months years 5 years Total
$000 $000 $000 $000 $000 $000

Financial liabilities
As at 31 December 2006
Customer deposits $ 64.777. $ 237,720 § 16,671 $ 24 S S$ 319,192
Other liabilities 2,083 : : : : 2,083
Subordinated liabilities : 3,632_ 3,632 _



Total undiscounted financial

liabilities 2006 $ 68,392 $ 237,720 $ 16,671 $ 24 $ 3,632 $ 32



a



The table below shows the contractual expiry by maturity of the Bank’s contingent liabilities and commitments:

3 to 12 tto5
months years Total
$000 $000 $000
2097
Contingent liabilities $ $ 110 $ 110
Commitments 16,909 1,539 _ 18.448
$ 16,909 $1,649 $ 18,558
2006
Contingent habilities $ 5 80 S 80
Commitments : 15,828 = 2,003, ‘17,851
S_ 15,828 $2,083 $17,911
Market risk

Market risk is the msk that the fair value or future cash flows of a financial instrument will fluctuate because o!

Changes ‘1 market prices. Market risk comprises three types of risk: currency :.sk, interest rate risk and other pnce
risk.

Market risk, including foreign exchange, interest rate and liquidity nsk, 1s encountered in both the investment and
trading books. Ansbacher '- ~up ALCO is responsible for setting market risk limits and for Managing and monitonny
these limits. The treasury department of Ansbacher & Co. Ltd., London operates a central tre; ury for the Ansbacher
Group and is responsible for the active management of the market risk of the Group on a day to day basis within limits
set by Group ALCG. The Bank also monitors market risk on a day to day basis

The Bank’s treasury department manaces the liquidity structure of the consolidated balance sheet. This is to ensure
that funding obligations are met and that the reeulatory liquidity requirements are complied with. General market
liquidity nsk is considered within the contest of scenario testing

i SFI 5955S

(MOviw

ir
Interest rate nsk
Interest rate risk is the :1sk that the fair value or future cash flows of a financial strumentt wil Me taste be ause of
changes in market interest rates.

The principal interest rate risk in the investment books is that of interest rate mismatching (re-p: cing risk) which ts
Monitored through the regular analysis of the book into various time buckets (gap analysis), with limits being set for
each individual gap. Marke, risk positions are monitored independemty by the treasuny department of Ansbacher & Co.
Ltd. The Bank aiso monitors interest rate rish on a day to Jay Dasis

Weighted
25 basis sep
Pt position Limits Room
% i000 £000 £000
As at 31 December 2007
GBP .
@ 1 month 0.01 QO 8 8
1- 3 months 0.04 0 25 25
9 3 months 0.05 0 17 16
3-omonths 0.09 0 7 17
6 - 12 months 0.18 0 17 17
Weighted
4 25 besis sap
Pe position Limits Room
% $000 $o00 $000
As at 31 December 2007
usD
0-1 month 0.01 1 17 16
1. 3 months 0.04 (4) 50 46
0 - 3 months 0.05 23 33 31
3 - 6 months 0.09 (4) 33 29
6 12 months 0.18 oO 33 33
Weighted
25 basis gap
5 eo _ bimits Room
As at 31 December 2007 : potas on
EUR :
0. 1 month . 0.01 QO nN W
1-3 months 0.04 0 34 34
0 3 months 0.05 0 23 23
3-6 months 0.09 0 23 23
6 - 12 months - 0.18 0 » 23 23
Interest rate risk (continued)
Weighted
25 basis gep
Pc Position Limits Room
As at 29 December 2006 * rahi see we
GBP
0-1 month
Z 5 ; 0.01 0 8 8
; : 3 rene 0.04 0 23 23
305 bye 7 17 17
es Q 7
6 - 12. months 0.18 : 17 v
Weighted
25 basis gop
ft Position Limits Room
Aabae sone % $000 $o00 $ooo
USD :
Q 1 month 3
1-3 months 0.04 We a m
3 6 months 0.09 a8) 32 30
6 - 12 months 0.18 3 2 a
Weighted
a 25 basis gap :
Pe * position Limits Room
As at 29 December 2006 . ad — sone.
EUR.
0-1
a mont. 0.01 (0.2) 12 12
0 - 3 months -. : a4 aa
3 6 months ao ‘ - oe
. . 4 ‘
6 - 12 months 0.18 0 75 3

ibe above modified duration calculations have been developed internatly to quantify the IRR to the Bank's net interest
oe The modified duration calculation is applied to each gap to convert the gap to a monetary value. using a 25
is point standardized shock. Assets are denoted by a positive value and liabitities by a negative value.

Note: The weights applied to the mismatch per time band is as per the “Principles for the Management and Supervision ©

of Interest Rate Risk” consultative document issued by Basel Committee on Banking Supervision in September 2003.
These factors (weights) are based on an assumed parallel 25 basis point shift throughout the time spectrum, and on a
Proxy of modified duration of positions situated at the middle of each time-bank ard yreldine 5x.

Currency risk is the risk that the fair value or future cash flows of & financial instrument wit! fluctuate becuse of
changes in foreign exchange rates.

Wiis oe . sites via shiek short.open and foreign exchange gap limits. Foreign exchange trading has
been Bank during the period under review and, in the opi f
inherent. in these limits is considered tobe minimal, acc vt HUET geet ce ae re

Operational risk ees ny ‘ ,

oo is - - that deficiencies in information systems or internal controls result in unexpected business

oo See The identification and somrok of these risks is managed by the Bank's Risk Comittee.

ileal trea eet t and the Group’s Internal Auditors carry out regular reviews of all operational

Lek are being property controlled and reported to the Risk Committee. Contingency plans
eve salen Continuity in the event of serious disruptions to business operations.

18, Operating lease commitments,
(a) Operating lease agreement where the Bank fs lessee
‘ :
uture minimum rentals payable on Property under non-cancellable operat-ng tzases are as follows:

“31 December” 37 December

2007 2006
$000 $000
Not later than one year
After one year but not more than five years : oe ; o
ee 94 __., Jase
\ vom ccna 573 $1,750

(b) Operating lease agreement where the Bank is lessor
Future mihimum rentals payable on Property under non-canceltable operating "case 4° as iollows:

4! December 31 December
2007 2006
$000 $000

Not later than one year

. After one year but not more than five years - ele > poe

290 1,070
912 S$ 1.667

19. Related party balances

Parties are consid i
tp tis emia to be related if one party has the ability to control the other Party or exercise significant
ENC T party in making financial or operation decisions, or one other Party controts both. a7

(a) Subsidiaries
Details of the principal subsidiary are shown in Note 2.

(b) Entities with significant influence over the Bank
The
Bank also engages in banking activities with entities with significant influence over the Bank.

In aggregate, balances included in the balance sheet are as foliows:

Due from banks
—2212,929 $183,452
Other liabilities 2 :
Subordinated debt s ee $1,882
3,037,
4S 554
20 Capital: rao is,,

ies Bank maintains an actively managed capital base to. cover risks innerent in the business. The adequacy of the
2 a Capital is monitored using, among other measures, the rules and ratios established by the Basel Committce on
anking Supervision and adopted by the Central Bank of the Bahamas in supervising 'the Bank.

Capital management
T i “
he primary objectives of the Bank’s capital management are to ensure that the Bank complies with externally

imposed capital requirements ond that the i
2 ue Bank maintains strong credit ratings and healthy capital ratios in order to

tes ae manages its capital structure and makes adjustments to it in the light of changes in economic conditions and
risk characteristics of its activities. No changes were made in the objectives,” policies and esses fi
ate 5 P processes from the

oe Provision for loan losses ts required to meet the Bank's Statutory requirements. The generat provision is
WN aS aN appropnation ot retained eamings and reflected as part of shareholders’ equity. At 31 December 2007
the statutory loan loss reserve was $810 (2004: $723).

Regulatory capital



Ac at Required Actual Required
2003 2007 2006 2006
$000 $900 $000 $000
Tier 1 capital S
Tier? canttat $ oe $ 11,972 5 a $ 11,363
2 ake é be os a 5
Total capital BOR he. ayes get aoe ae ee
pite ae Fe ALE LS N972 899,522 $ __ 11,363
Risk weighted assets $ 2 sii reser 2
a 244,722
9,722 $193,635
Ties 1 capital ratio WW
Ter 2 cupitel ratie- 4% * oe
% *
RIG. arery Capa Corsets oP Tet capna ve erty ’ r
wrete Rare seme om . it! we
cueent wear protitfluss. Teta ediustiw yt ae Shenson, ee and” ie : fa ee ae
. . ee OE ar eG, “ooether component + +

~, y ~ . ~
regulatory centa Mer Quanta whighne let oo eri: tet ge tenes Cebe

i and t

«Inter

THE TRIBUNE

WEDNESDAY, APRIL 23, 2008, PAGE 9B

Banks’ credit
crisis over?

Not so fast

@ By RACHEL BECK
* AP Business Writer

_ NEW YORK (AP) — Bank
CEOs missed the mark in fore-
casting the destructive path of
today’s credit crisis. That’s why
we shouldn’t take too serious-
ly their predictions that it is
almost over now.
Some of Wall Street’s
biggest names have been pro-
claiming in recent weeks that
_the worst of the financial mar-
ket turmoil is likely done.
_ JPMorgan Chase’s Jamie
Dimon thinks it is “maybe 75
per cent to 80 per cent over,”
while Goldman Sachs’ Lloyd
‘Blankfein says “we’re closer
to the end than the beginning.”

Those kind of comments
helped put a positive spin on
what otherwise would have
‘been a tough earnings season
‘for financial companies, which

.have tallied massive losses as
mortgage and other. debt woes
continued to weigh on their
businesses.

It’s in the CEOs’ best inter-
ests to steer sentiment higher.
If people feel better about the
state of the economy or finan-
cial markets, that will lead to
more deals or stock trading
-and will boost bank profits.

The data don’t back up their
happy views, however. We’re
still stuck in a painful housing
downturn, mortgage defaults
continue to soar, and rising
inflation is hurting businesses
and consumers.

Credit-risk worries, which
have ravaged financial markets

-since last summer, haven’t

‘diminished either. The gap
between the interest rate on

3 the three-month Treasury bills

lenders are avoiding risk.

The credit crisis has led to
more than $200 billion in write-
downs taken by banks and
financial firms over the last
year — far more than anyone
had expected, given the opti-
mism of those companies’
CEOs last summer.

As the housing market con-
traction accelerated and sub-
prime borrowers were increas-
ingly defaulting on their home
loans in the first part of 2007,
those executives were telling
us not to worry.

Last June, Bear Stearns
CFO Sam Molinaro talked
about how the high level of
subprime mortgage defaults
hadn’t “spilled” into other
areas of the market. Merrill
Lynch CEO Stan O’Neal said
the subprime crisis was “rea-
sonably well contained.”

And in July Citigroup’s
CEO Chuck Prince said:
“When the music stops in
terms. of liquidity, things will
be complicated. But as long as

. the music is playing, you’ve got

to get up and dance. We’re still
dancing.”

All those executives are now
out of work and all their banks
are now wallflowers.

By August, risk aversion
spread through the market-
place, and has since paralyzed
credit markets and caused a
tightening of lending standards
for consumers and businesses.

That’s why we might want
to listen cautiously to what the
bank CEOs are saying now.

‘Richard Fuld, CEO of
Lehman Brothers, comment-
ed at the company’s annual
meeting that the worst is

“behind us.” Morgan Stanley.

he three-month, London..; , CEO, John Mack told investors...
bank Offered Rate: thatthe collapsevof the sub-





Weighing against that are
findings of a new CEO survey
from the Financial Services
Forum, which represents 20 of
the largest US financial com-
panies. The survey showed that
executives by a wide margin

- believed that the current creqd-

it turmoil has far to go; one in

- three of those CEOs polled put

the likelihood of a recession at
100 per cent. ‘
‘Among the trade group's
members is current Merrill
Lynch CEO John Thain, who
reported on Thursday that the
investment bank had a $2.14
billion first-quarter loss and
write-downs of $6.5 billion on
its debt including mortgage-
related securities and lever-
agedloans. I
“I hope those who say we
are at the end are correct. | am
somewhat more skeptical,”
Thain told the Financial Times
after the earnings were
released. :
Last summer, Bank of
America’s Ken Lewis seemed
confident that the end was
nearing for the housing slunip.
On Monday, the Charlotte.
NC-based bank said its prof-
its tumbled 77 per cent in the
first quarter due to trading
losses and a $3.3 billion
increase in reserves for prob-
lem loans. ;
“J think first it would be too
early to strike up the band and
sing happy days are here
again,” Lewis said Monday on
a conference call with analysts
during which he said the situa-
tion in the capital markets was
particularly tough in March.
Forget about ninth, or even
eighth inning. Maybe we
haven’t even gotten to the scy-
enth inning stretch yet.
Rachel. Beck is the natiorel

* referred to"AS the Clovelly” priitie market in ‘thé US thas» -business.columnist for The
watched “TED” spread—has reached its eighth inning or Associated Press. Write to her

been widening, indicating that

maybe the “top of the ninth.”

nie eet,

eK
oe



at rbeck(at)ap.org

1

CH Rowe ARES

ARES ARANER UE eens
PAGE 10B, WEDNESDAY, APRIL 23, 2008








‘Tribune Comics __
JUDGE PARKER

WHAT ARE YOU
TALKING ABOUT,

ZI WASN’T.--BUT
RANDY THINKS WE
SHOULD AT LEAST
TALK TO THIS MAN!

BE
3
i
§
=
g
g
zg
é
t
&
-
2
=

THE FIRM WHEN
RANDY LEAVES!

A ait WAS THAT, GIRL,
ee ec
ee





NOBODY, JUST A GIRL WHO | :
WANTED A KISS. THAT §
MAKES IT |

ALL RIGHT 274

©2008 by North Amatica Synvicate, Inc. Werld rights reservad



HAVE A WONDERFUL
DAY, DAGWOOD

I'M IN A GOOD MOOD TODAY, MY
BOY! ANY EMPLOYEE WHO WANTS
py TO LEAVE EARLY CAN DO SO

I'M PRETTY SURE
THIS IS SOME
SORT OF A STING

© 2008 by King Features Syndicate, Inc. World Rights reserved






"..SO I THOUGHT I'D
SPEED UP MOTHER
NATURE A BIT



WELL, THE TEETH-
FALLING-OUT
BUSINESS 1S

KIND OF SLOW:

WHAT'S A TOOTH FAIRY
DOING CARRYING PLIERS ?




















: A, WIYOot 5-4
~ WELL... ws a.

AT LEAST Ss! é .
HE NEVER | id §
RAN FoR §
CONGRESS a
&
&
‘Te NICECT TANG | $
: EVER 6NO ABeUT :
Lert With i h LANYER A

SER eee cot momenta iA AAV hi RACE CA WUE UCOMLS, COHK

TIGER eh

| LooK Ar THE \ ITS No Goor] MAYBE I WHO,
CAN Sseie { BUY IT:
AT



















SOMEONE WHO
LIVES WHERE IT
VOESNT RAIN



70007 by Wing Feeascs Syviante nz Veoxid nhs nreorad

a AAAI OSTOMY BAD










































| CRYPTIC PUZZLE |

ACROSS aN DOWN
1 Apples and pears, so to speak (6) 1
7 Fit to. go on leave? (8)

Collapses as half of us go to
pieces (6)



8 Woman of imagination 2 Plants one increases (6)
(4) 3 Box witha spring on the far end (4)
10 Cat employing her own mode of 4 _ Vain advice to employ fewer (7)
operation (6) 5 Mainly American name, of Biblical
11 Aprincely watch chain (6) character (5)
14 Permit less than a plethora (3) 6 Itmakesa change from Elizabeth (5)
16 Strange way to get toa 8 — Remove the plug so as to swaliow (4)
areat lake (5) 9 It’s full of holes (3) ,
17 Drinks, just a little (4) 12. Be last, finally, but it was only a
19° Not the end nouse in gamble (3)
! Wood Street (5) 13 Call Oscar by a Beatle name (5)
21 Steve, maybe, or a follower 15 Brown kind of bird, one imagines (5)
of “6 Down” (5) : 18 Peculiar way of putting things (5)
22 Fed up with being 19 - How to be flung well away (3)
Grilled (5) 20 Relieved of some harridan (3)
23 One vessel or a large number 21 Sad, though well provided with
on the way (4) benefit? (7) nines
. : ; 1 Foot part (6
26 Not far from being a .22 Shoot a quantity of garbage (3) 7 paren el
Doozer (5) 23 One given tco much credit? (6) (8)
28 A prefix new to a Nazi, say (3) 24 Tramp joined by Ken somewhere nee
: 10 Accuses (6)
25 Inthe pictures, one plays abroad (4) . Nl Easy (6)
games (6) 25 Thrust in pointedly? (6) 14 Ready
30 Made childish attempts to 26 Fantastically feathery? (5) 16 GB)
deceive (6) . 27 Shrewd female in crafty 7 Girt (4) "
31 Viola’s semi-contralto voice? (4) extremes (5) 19 Sap (5)
32 Ingetting sharpened up, 28 Nothing changes in Leatherhead (3) eh SOBs 5
' our being praised (8} 30 Reduce the volume of these last few 22 ie a
, 33 It’s innotes that sail id { tes ao
3 ors Got paid {6) notes? (4) song (5)
23 Stink
(4)
26 Wash (5)
: / = I, ; 28 Colour
= ; (3)

Re : “ ; 29 Annexe (4-2}
Yesterday’s cryptic solutions | Yesterdav’s easy solutions Te SS 30 Turn (6)
ACROSS: 1, Laird 6, 3eing S, Arch-way 10, Ra-in-y 11, SENSE | ACROSS: !, Tripe 6, Cover 9, Annula: 10, Stand 11, Petal 12, 31 Man's
12, Seats 13, Toreats'l®; Yes 17, We-Ea 18, Po-tent 19, Stein | Mints 13, Benefit 15, Wet 17, User 18. Comedy 19, Begin 20, name (4)
20, Stan-ce 22, Asti 24, Try 25, Sh-unt-ed 26, Truly 27,0- | Cleser 22, Acne 2s, Hes 25, Fetches 26, Valid 27, Ascot 28, 32 Prinping (8)

scar 28, Got up 29, Pension 36, Dy-fe4 31, Tyoed | Soter 2°, Teacher 30, Tried 31, Adder

| Vocalist (6)
DOWN: 2, Apactie 3, Ranted 4, Dry S, Shies 6, Bastion | DOWN: ~, Relies 3, vend: 4, End 5, Cubit 6, Caption 7,







tyes (ayes) 8, Nis-Sé-- <2, State 13, Twist 14, Relay 15, ¢-| Gres 2 2 Never 14, Sunch 14, Never 15, Wench 16,
€ 3st 16, St.-aid 13, Pii-h-y 19, Scar red 21, Trusty 22, Antor, « Tyres: edt) Be oteg fl, sesser 22, Accord 23, Negate
23, Tenure 25, $ l-ash 26, § Got 02, Fila 26, vote 28, ot

COMICS PAGE









“WHEN MR.WILSON SAYS ‘CUT THE BALONEY,’
(1S NOT BECAUSE HE WANTS A SANDWICH.”

THE TRIBUNE








OE COURSE | [ WOULD YOU STILL IONE
T 00, cALIN.| | ME IF TDD SOMETHING |

— =
WELL OF COURSE
w La. WOULD...

Bidding Quiz

You are South, neither side vul-
nerable. The bidding has been:
West North East South
1¢ 14 Pass ?

What would you bid with each of
the following five hands?

1. #A72 ¥ 1085 @ 63 & KQJ43
. © K984 Y AKS72 @ 53 & 74
- 2 QI Y KI94 @ 865 & KI82
. &A9643 ¥ K7 + 10 & KQ954
. © Q8 YAQ2 @ QJ9S & KQ83

ka

MBWhD

1. Two spades. An overcall on the
one-level is more often than not
based on a hand that would not qual-
ify as an opening bid. However,

‘since a simple overcall can contain
up to 16 or 17 points, game is not an
impossibility opposite the hand you
hold here, and this can best be
explored by raising spades.

It would be wrong to bid two clubs,
as this would deny support for
spades an¢d would normally be read
by partner as a corrective action.
Partner might very well pass two
clubs, which is unlikely to be in your
side’s best interests.

2. Three spades. This is a stronger
game try than two spades. However,



Target
uses: -
words in
the main
body of
Chambers
21st
Century
Dictionary
(1999
edition).

HOW many words of four letters
or more can you make from the
letters shown here? In making a
word, each letter may be used once
only. Each must contain the centre

- -letter’and there must be at least

one nine-letter word. No plurals.

. TODAY'S TARGET .

Good 18; very good 24; excellent 35
(or more). Solution tomorrow.



DOWN

1 Woman's
name (4)

2 Topics (6)

3 Overtes# (4)

4 Skin
pigrnent (7)

5 ~ Custom (5)

6 Yielded (5)

8 Fish (4)

3 Obtain (3}

12 Deceive (3}

13 Contract (5)
15 Insurgent (5)

18 = Corner (5!

19 Rodent (3)

20 Be seated (3!

21 Pleased (7)

22. Male (3)

23 Keep (6)

24 Dutch
cheese (4}

25) Warden ff)

26 Cuts (5)

27 Keen {5}

28 Staff (3)

30 Tatters (4}



the jump-raise is not forcing and

allows partner to pass if his overcall .

is of the minimum variety.

3. Two spades. It is very unusual
to raise parmer with only two
trumps, but here there is no better bid
available. To pass with 11 points and
a partial trump fit would show a thor-
ough lack of respect for partner’s
overcall, and to bid two clubs or two
hearts on a four-card suit is unthink-
able. North is entitled to some form
of encouragement, and two spades
comes closest to filling the bill.

4. Four spades. The odds strongly
favor making four spades, and that’s
a-good-enough reason for bidding it
straightaway. Opposite a typical one-

spade overcall, this hand is highly

unlikely to lose four tricks.

5. Three notrump. It would be
wrong to bid only two notrump,
which would permit partner to pass.
It is bad policy to merely invite a
game that you already know is an
odds-on favorite.

One way of estimating your
chances for game is to credit partner
with roughly 10 points for his over-
call, which would give. your side the
26 points normally needed for game.

< Ro
Be 280
BEECUSRES
ae oso 5
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SpsoRuhes
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5°52 3E8555
BO eee CUE
sigsctezes
Barak ER,
weeeeeees
wSoesse.
RS°SeSugkus
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RSSESERST LE
Bosueeua ss
WSESESSSEES



ay)

word
| plié

ballet bending
movement




Emil Sutovsky v Sergei
Dyachkov, Moscow Aeroflot
2007. Israel’s number four
Sutovsky is a former European

champion, with a big reputation

for imaginative attacks. But the
grandmaster seemed to have

overreached in today’s diagram, ;,

where the black king is under
siege but White's b5 bishop is
menaced by the a6 pawn with
its retreat barred by Black's
central pawn chain. Sutovsky
had seen further, and his next
turn kept an advantage which

led to rapid victory. What should

White play?






WEDNESDAY,
APR 23

AQUARIUS -— Jan 21/Feb 18
A slight altercation could get your
adrenaline pumping this week,
Aquarius. Take a short cool-down
period so you don’t say something
you’ ll regret later.

PISCES — Feb 19/March 20
Your enthusiasm is so attractive now
that you’ll find many who want w: be
your friend. Coritinue to focus on
being interested in others.

ARIES — March 21/April 20
You have set high standards for your-
self this week, Aries. The problem is
you feel like your life is on hold until
you reach these goals. Let a friend
guide you through.

TAURUS - April 21/May 21
There is no reason to wait to have fun
this week, Taurus. Start the weekend a
bit early. Socialize with friends on
Wednesday and let the party continue
through the remainder of,the week.

GEMINI — May 22/June 21
The feeling: that you must always
attend to someone else, putting your
needs last, is growing old. Make your-
self the priority this week and pamper
yourself. Indulge in’a gift just for you.
CANCER - June 22/July 22
Monday features a chaotic gathering
of people. Sagittarius is a key figure
at this gathering. Keep your cool and
romance may flourish when you
least expect it.

LEO - July 23/August 23

This week you may strike the perfect
balance between work, love, individ-
uality and family. This begins by
your Jetting go of the reigns and giv- .
ing someone else control. Bravo!

VIRGO — Aug 24/Sept 22
Expect Wednesday to be a hectic
day. Do your best to not spread your-
self thin. Make demands of your
loved ones to help out and take some
of the pressure off of you.

LIBRA - Sept 23/Oct 23
Conflict is a scary thing, not just for
you, but for others as well. Keep a
level head when a confrontation
arises on Thursday. You'll be the
voice of reason. ‘

SCORPIO - Oct 24/Nov 22

Salvage good ideas from a project
that has failed recently. You're no
quitter. so get back on the horse.
Enlist the help of a partner to pro-
vide a new perspective on the work.
SAGITTARIUS — Nov 23/Dec 21
You have a bevy of emotions stir-
ring this week, Sagittarius. Just
weed out the ones that are
counter-productive. Keep your
sense of humor and you'll make it.

CAPRICORN - Dec 22/Jan 20
Perfect opportunities come up for a
new romantic relationship. Expect a
close friend to become something
more. The magic may begin as early
as Tuesday.

CHESS by Leonard Barden



Chess solution 8359: | Be8! and if KxeS 2 Qxg7 RE 3

exf6 RI7 4 Qh8* regains the piece with advantage.
The game ended 1...Qd8 2 BhS Nbc6 3 ex{6 gxf6 4
Ng5! Qa5 5 0-0 £5 6 Oh4 and Black resigned faced
with Nxe6! and Of6+.


+ |! Raheem De- {College Hill: At jIron Ring (CC)
BET frog. [onsen |"

sh INGSP «

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| NICK

THE TRIBUNE
‘WEDNESDAY EVENING APRIL 23, 2008

7:30 | 8:00 | 8:30 | 9:00 | 9:30 | 10:00 | 10:30

Naa Zest ae SS)

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CABLE CHANNELS

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WEDNESDAY, APRIL 23, 2008, PAGE 11B :

let Charlie the
Bahamian Puppet and
his sidekick Derek ut ay
some smiles on your Bg

kids’s faces.



Bring your:children to the

McHappy Hour at McDonald’s in

Malborough Street every Thursday

from 3:30pm to 4:30pm during the
month of April 2008.

Enjoy Great Food, Prizes and Lots of Fun

{T\

i'm lovin’ it


PAGE 12B, WEDNESDAY, APRIL 23, 2008 THE TRIBUNE



THE BAHAMAS Real Estate Association’s
2008-2009 elected executives and directors
are: (Seated, L to R) treasurer Virginia
Damianos, Damianos Sotheby's Interna-
tional Realty; past president Larry Roberts,
Bahamas Realty; president William V.
Wong, William Wong & Associates; vice-
president Lana Basalyga-Munnings, C.A.
Christie Real Estate; secretary James New-
bold, Neubs Investments. (Standing L to R)
directors Patricia Birch, Morley Realty;
George Damianos, Damianos Sotheby's
International Realty; Mike Lightbourn, Cold-
well Bankers/Mike Lightbourn Realty; Zach
Bonzcek, Paradise Realty; Anthony Wells,
Island Living; Tracey Barone, W.T. Lowes;
Sandra Evans, Sandra Evans Real Estate;
Sara Callender, New Providence Develop-
ment. Members not pictured are Cara
Christie of H.G. Christie; Theodore Sealy,,
Platinum Realty and Wendell Seymour,
Registrar.



Photos: Keith Parker/PS News/Features

Realtors elect
new executives





SKIN CARE & BEAUTY CENTRE

Skin Tone




WILLIAM WONG (left), shortly after his election as the Bahamas Real Estate Association’s (BREA) president
for the year 2008-2009, made a presentation to outgoing president Larry Roberts (right), who served from
2006 to 2008. Other elected officers and directors are vice-president Lana Basalyga; secretary, James
Newbold; and treasurer, Virginia Damianos. Directors are Tracey Barone, Patricia Birch, Steven Cartwright,
Wendy Johnson, Mike Lightbourn, Allan Murray, and Anthony Wells. Serving from 2007 through 2009 are —
Zack Bonzcek, Cara Christie, George Damianos, Sara Callender and Theodore Sealy.

oa =. | frdiGo

NAD | et Ae eae T WORK S
islands of New Providence, Grand Bahama, and Abaco. IndiGO is currently in search of a highly-

Nassau Airport
oe a -R E ) U
; qualified Manager of Network Services. Successful candidates will be highly energized, willing and

- O R p R O p O S A [- S able to take the challenges of a fast-paced network rollout.

MANAGER - NETWORK SERVICES




‘The search for a skin tone that looks "normal" or esthetically pleasing’, i
aquest that every nian oad womas 4 in every ethnicity has.
No.89 Mount Royal Ave. Ph




Phone/Fax: 242.326. 7349, ?.O.Box N-9973 Nassau, clare

Indigo Networks is a developing telecommunications company based in Nassau, Bahamas.
Beginning in 2004, IndiGO introduced the Bahamas’ first licensed telephony competition to the



Job Description |

Network Services is tasked with OA&M of a broad range of systems within the expanding Indigo
network. The manager is responsible for providing strong leadership for a group of IT personnel
oss: ree ge eS : _ || with varying disciplines and a range of technical experience. The principle objective of the Network
TWO Branded Specialty Coffee Outlets, § Nassau Airport as a world class airport; Services team is to provide highest system availability and reliability for all telecommunications and
one in the U.S. Departure Lounge and Internet related commercial services and products. .

one in the Domestic/International (c) offer food & beverage choices to

Terminal at Lynden Pindling passengers at reasonable prices; The Manager's secondary responsibilities will include budget preparation, project planning and
International Airport. The successful implementation, vendor management, carrier liaison, and implementation of technical projects
needed to meet business objectives.

Nassau Airport Development Company (b) offer a mix of concepts that will
Limited (NAD) is inviting proposals for help to enhance the image of the

Proponent will be required to finance, (d) offer a mix of local, regional and
design, develop, operate and manage national and international brand-name

- the branded specialty coffee outlets. °° Companies; Qualifications

Determined and independent, with 5 years previous IT management experience maintaining a
; service provider's network
L Proponents mustoeincerporated, _ _ {e} develop and. design food 6 Willing to work hands-on 7/24/365 to resolve network or system problems
. beverage facilities that complement University degree. CISSP,CCIE,MCSE or equivalent skills required
ii. Proponents must have at least two . the qualities of the current and Excellent verbal and written communications skills
(2) current locations similar to the new terminals while recognizing the Excellent troubleshooting and analytical skills

proposed operation at LPIA where distinctive spirit and character of the History of successful vendor management
Preferred to have already acted in a capacity as carrier liaison
Demonstrable experience with Cisco routers, switches (LAN and WAN)
naliistheiet tame th comecvivs iced Nene Knowledge of 2"? generation NLOS MMDS wireless systems and wireless backhaul reeiited:
Solid understanding of telecommunications circuits from DSO through DS3
Stet Flexibility to manage multiple cell sites and Operations Centers distributed across three islands
a Familiarity with MINDCTI billing system and associated AAA and DB
iii. At least two of the Proponent’s eS Hands-on security expertise - firewalls, VPNs, IDS/IPS
current locations must have generated Extensive knowledge of IP telephony (VoIP/VoN), Cisco BTS10200 softswitch, PSTN
gateways, SS7, QoS, SIP,H.323, MGCP
Expertise with typical ISP applications (DNS, radius, Rwhois, mail, network management/
SNMP, packet analyzers, etc)
oe Hands-on Unix (Sun and Linux) and Windows 2003 Admin
# goals and objectives are fo: || + Prior hands-on experience of 3 to 5 years with a Class 4/5 softswitch a necessity

the Proponent has operated similar community the airport serves; and
Branded Specialty Coffee facilities

at least $500,000 in average annual
gross sales in the last two (2) years.

aS) SEMI OMOEA eene Salary is commensurate with qualifications.
excellence and customer service; Apply to:

Attn.: Human Resources Manager
P.O. Box N-3920, Nassau, Bahamas