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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Protection irom

orn campaign

Government plans to
shield children from
exposure to sex films

@ By MEGAN REYNOLDS
Tribune Staff Reporter

A CAMPAIGN to protect chil-
dren from exposure to pornogra-
phy is being planned by the Gov-
ernment after videos of school-
children having sex were reported
in The Tribune. :

Loretta Butler-Turner, Minis-
ter of State and Social Develop-
ment in the Ministry of Health,
said such videos are becoming
frighteningly widespread among
schoolchildren throughout The
Bahamas.

She said: “All of our children
have access to mobile phones and

computers, they are very com- ~

puter savvy, and therefore they
are.all potentially at risk of expo-
sure.

“We believe there is a direct
correlation between children
watching the films and making
them, and they are simply acting
out what they see.” |

To combat this damaging
behaviour, Miss Butler-Turner
intends to continue the kind of
sex education she and the Nation-
al Child Protection Council have
propagated throughout Child
Protection Month this month and
raise awareness of how damag-

SEE page 11

Shooting victim
dies in hospital

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

FREEPORT - The second man critically wounded during a
shooting this week in Freeport lost his battle for life in hospital on

Thursday evening.

Terrel Mingo, alias Jamaal Stubbs, 30, of Nassau, died of his
injuries around 7pm in the Intensive Care Unit at Rand Memori-
al Hospital. His death pushes the homicide count for 2008 to four

on Grand Bahama.

SEE page 11

Official denies St John’s College
students’ claims over exam

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

THE Director of Education at
the Anglican Central Education
Authority has denied that students
at St John’s College are set to be
made to take a BGCSE exam in a
subject for which they had no
teacher for most of the course.

Valencia Saunders admitted that,
although the teacher originally
assigned to teach the grade 12 stu-
dents the commerce class did leave
the school “suddenly” in January,
there has been a substitute teacher
regularly covering the lessons.

This comes after a concerned par-
ent yesterday told The Tribune that
students at St John’s were set to
protest at noon over the fact that
they expect to be made to sit the
exam in May.

They claim that they have had as
few as two or three classes in the
subject since their original teacher

left almost four months ago and
they are totally unprepared through
no fault of their own.

Several from the class of “30
plus” also alleged that although it is
a two-year course, the school only
started attempting to teach them
the subject last September - mean-
ing that they only studied the sub-
ject for around four months before
their regular teacher left.

When The Tribune visited the
campus yesterday, no protest was
underway, but senior students were
engaged in a mass meeting with the
school’s principal in the auditori-
um.

Speaking on condition of
anonymity, some students said out-
side the meeting that they are wor-
ried about how their impending fail-
ure of the exam, in light of the
shortage, will impact their future
prospects.

SEE page 11



@| Gardens and Adelaide areas.

Bena anaes




aniae Ferguson

ees

A FIREFIGHTER at the scene of the Carmichael Road ie.

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










THREE major fires in New Providence yesterday. threat-
ened hundreds of homes in the Carmichael Road, Tropical





At press time last night, firefighters had brought the fires
burning close to Carmichael Road and Tropical Gardens
community, off West Bay Street, under control.

However, a blaze deep in the bush near the Water and
Sewerage Corporation wells, which is advancing parallel to
Coral Harbour Road towards Adelaide, was still burning at
full force.

As crews of firefighters battled the two fires close to Lyn-
den Pindling International Airport in the south-west and the
north-west of the island yesterday morning, a third blaze
broke out close to Miller’s Heights sub-division, near the
Bargain City Shopping Plaza on-Carmichael Road.

Press liaison officer Asst Supt?Walter Evans told The
Tribune that earlier yesterday the fire threatened “numer-
ous homes and a (Baptist) church” in the area close to the
shopping centre.

Three crews of firefighters were on the scene to prevent
the fire from spreading to homes in Miller’s Heights.

The fire seems to have its point of origin in a vacant lot full
of derelict cars.

Last night, Mr Evans said the fire had been brought under
control and was now in the “smouldering phase.”

However, residents still had to put up with significant
smoke development.

Also in the “smouldering phase” was the fire north of
the airport, which earlier yesterday had threatened to spread
to the Tropical Gardens community off West Bay Street.

Mr Evans said that fire services personnel have been
working non-stop since 4am on Thursday to contain the
fires.

SEE page 11































Thousands
watch COB
ECU
YouTube

By ARTHIA NIXON



YOUNG Bahamians are mak-
ing their mark on the international
arena in a way that could hit the
tourism industry, with students
from The College of The Bahamas
leading the way.

As of 4pm yesterday, the popular
YouTube internet video website
had recorded about 66,901 views
and received four out of five stars
for a brawl on the college’s Oakes

Field: campus involving two young

men.
The video included a rap sound-
track and laughing by onlookers as
those involved in the fight dragged
each other through wet grass and
eventually threw objects.
Most surprising was that from

three different computers, when .



CLARENCE GREY (left) and Nehru Newton outside of court yesterday



the word “Bahamas” was typed
into YouTube’s search engine and
sorted by relevance, the fight was
second on a list of 11,200 videos
relating to the Bahamas with videos
on Atlantis, Paradise Island and
Junkanoo below it.

However, COB is not the only
tertiary level institution in the coun-
try making the rounds on
YouTube. A University of the West
Indies Bahamas party, with 19,179
hits, showcased students at a dorm

~party- dancing suggestively and “dry

humping”.

A total of 23,467 viewers
watched a child estimated to be
eight years old staring at two pre-
teens dancing provocatively and
simulating lesbian acts as a pre-

SEE page 11

Tim Clarke/Tribune staff

Pair charged with assaulting
and threatening son of ‘Ninety’

THE nephew of drug convict
Samuel “Ninety” Knowles was
arraigned in Magistrate’s Court
yesterday along with another
man on weapons and assault
charges.

Nehru Newton, 33, of
Clarence Hill Avenue, along
with Clarence Gray, 36, of Tre-
galon Gardens, have been
charged with assaulting and
threatening Knowles’ son
Theodore Knowles.

Court dockets allege the two
men on Tuesday, April 22, were
found in possession of a silver
and black Lorcin pistol, five
.380 rounds, a black Ruger 9mm
pistol and eight 9mm rounds.

It is also alleged that the two
men assaulted Theodore
Knowles and made death
threats against him.

Both men pleaded not guilty.
They elected to have the assault
and threats of death cases heard

in Magistrate’s Court. Both
were remanded to Her
Majesty’s Prison. A bail hearing
has been set for next Friday.
The men are being represented
by attorneys Dion Smith and
Alex Morley.

e A 28-year-old man of Hos-
pital Lane accused of being
found in possession of 29 live
rounds of ammunition was
arraigned in Magistrate’s Court
on Thursday.

According to court ——
Elexis Taylor, on Tuesday,
April 22, was found in posses-
sion of 29 live rounds of .357
ammunition. Taylor, who was
arraigned before Magistrate
Carolita Bethel at Court Eight,
Bank Lane, on Thursday,
pleaded not guilty to the charge
and was granted $10,000 bail.
The case was adjourned to
November 24.





PAGE 2, SATURDAY, APRIL 26, 2008

a THE TRIBUNE

ee a ee ee
Bradley Roberts speaks out
on Leon Williams departure

© In brief

Bus drivers set out to
provide better service

A GROUP of bus drivers say they are hoping to make
improvements across the entire public transportation system.

They aim to create more routes, but pointed out that better
service will make a price increase inevitable.

“We feel that it is important that Bahamians stop saying 'the
government, the government, the government’. The govern-
ment has a role, but they do not speak for our businesses. We
as business owners must take responsibilities for ourselves;
we need to speak to our customers, service our customers,
and when there are concerns, update them,” said Pubic Trans-
port Association president Reuben Rahming.

He was speaking to Romald Ferreira of the TV show
Bahamas@Sunrise.

According to Mr Rahming, some improvements have already
been made to the bus system and others are in the pipeline.

“My hope is that the fare increase will also come with value
added,” he said.

He says his group aims to implement:

° a system linking all buses

° aroute management system -

° the use of GPS technology

° a transit safety system for children

an electronic fare paying system

Mr Rahming said bus operators want to be as ale to their val-

ued customers as possible.

Palmdale & Carmichael
Prat

341-0498

FORMER Minister of Works
Bradley Roberts yesterday
likened the departure of Leon
Williams from the Bahamas

Telecommunications Company

to the dismissal of a former gen-
eral manager who successfully
sued the government under the
first FNM administration.
Referring to Batelco’s former
manager Barrett Russell — who
worked at the company for 26
years before his transfer to the
Office of the Deputy Pri
Minister as a consultant in 1994
—Mr Roberts said: “When I first
heard rumors of Mr William’s
departure, my first reaction was
déja vu, recalling how a former
general manager of Bahamas
Telecommunications Corpora-
tion under the FNM adminis-
tration was dismissed and the
subsequent legal action which

The Burns House Group

April 26th, 2008
Poop Deck Sandyport
aoe Slonii |

mee am sere MPIC ora OTL L GA
e many more top artists.

featured artists

Gs ee Wine club men

eClub members |

presents °,

resulted in high six figures being

awarded by the courts to that -

_ general manager.”

Mr Williams was last week. -
asked to resign as BTC’s CEO ©

and president.

Assessment

BTC’s executive chairman
Julian Francis in a statement to
the media said that following an
assessment of the company’s
critical needs, the board of direc-
tors made the determination
that BTC “needs new leader-
ship in order to address its

- sional capacity whose knowl-

numerous weaknesses:and ,

shortcomings.”

Mr Roberts, who had respon- *

sibility of BTC during most of
the Christie administration,

ed workaholic, a professional
extraordinaire, a teacher with a
passion to. put and keep BTC
on the cutting edge of technolo-

by:

__ “There are few persons in my
lifetime that I have had the plea-
sure to work with in a profes-

edge of his chosen field is as
extensive as Mr Williams,” Mr .
Roberts.

‘Mr Williams had been per-
ceived by some as being close
to the former works minister — a
fact which some observers spec-
ulate, did not endear him to the
new FNM government.

Sources at BTC told The Tri-
bune last-week that the decision
to ask Mr Williams to resign
does not imply anything improp-
er or illegal,on the former
CEO’s part.



described Mr Williams as a “gift-

â„¢@ By TANEKATHOMPSON ~~.
Tribune Staff Reporter °
whyyouvex@tribunemedia.net

“I VEX that the former minister of state

for financeé has publicly suggested that gov- .

ernment should consider writing off $410
million in unpaid taxes and in the meantime
senior citizens have difficulty getting their
pension cheques from NIB.

“If the country is so rich to be able to write
off that huge amount of money maybe they
should consider collecting it and giving it to
poor senior citizens.”

— Concerned citizen, Nassau.

"I'm vex at people who think just because .

a company makes clothes in their size that
gives them the right to wear it. Yes, it's your
body but does that give you the right to vio-.
late my rights by having to look at your bad-
ly bulging body stretching out clothes that
should go in the garbage.:

Ma mean it's just a disgrace, some people
Just ain’ suppose to wear.certain t things
man. '

— Fierce Fashionista, Nassau.

"I kinda vex that Mother’ Ss Day i is right
around the corner but my payday don't
come until couple weeks after that. I feel so
pressured and I know I ga' feel worse when
all dem basket stands pop up on the side of

the road, just to rentihd me how brokeIam BING.



RE PONSIBILITIES

e Supervise all staff,

_ and can '‘tafford to buy my ol' lady any-

‘ thing.”
— Living pay cheque to pay cheque,
Carmichael Road.

"T happy because The Tribune said (April
25th, 1B) we in the east finally gettin' a bank.
T'ank God! Now my coupl'a dollars could
be close to me and I don' have to sit in traffic
to go visit it. T'ank yer very much Common-
wealth Bank!"

— Future Customer

--.."I vex over dem CID officers who think
they own the road on Thompson Blvd. They
come barreling up the middle of the road in
these big, black Explorers like someone dyin'
and you see that they just turning into their -
parking lot.

I mean they don't even give people a
chance to move out their way, at least the
ambulance is puton brakes, but dem CID
would push ya' car out the road if they
could.

And I tired of hearing the police sirens
escorting the government armoured car. I
swear they almost give me a heart attack

‘today with all their wailing. Once again I
don't understand why we have all these.
sirens going off all the time making all dis
noise pollution — it really don't make any
sense. "
ss = Praying for peace and quiet on Thompson

POSITION AVAILABLE

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The successful candidate will be required to meet-the following criteria:- |

roviding general staif management and allocating staff

resources while monitoring professional development.

management and related functions.
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Contribute to strategic decisions as a member of the firm's leadership team.

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EDUCATION REQUIREMENTS
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° CPA designation

EXPERIENCE
e At least five years work experience in a consiilting business or comparable busi- |

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¢ Outstanding skills in analysis.
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Deadline for Submission of Résumés is April 30th, 2008

Please forward cover letter and résumé via mail, fax or email to:-

Hunmian Resource Department
Global United Limited
P.O. Box CB-13838

° ° Nassau, Bahamas
Re: Chief Operating Officer

Fax: 242-377-1261





THE TRIBUNE

SATURDAY, APRIL 26, 2008, PAGE 3





0 In brief

Man accused
of election
court fraud
fails to appear

FOR the second time, a
man accused of commit-
ting election fraud failed to
appear in court.

The trial of Wilfred
Swain, 50, which has
already been put off sever-
al times before, is being
heard before Magistrate
Susan Sylvester at Court
11 on Nassau Street.

Swain was a no show
again on Thursday. Last
October Swain failed to
appear in court for the
continuation of the hear-
ing. On that occasion
lawyer Ian Cargill, who
along with Fayne Thomp-
son is representing Swain,
said that he had learnt that
Swain was supposedly ill
and in hospital.

Swain, of McCullough
Corner, has been accused
of committing election
fraud during the May 2,
2007 general election.

He has pleaded not
guilty to fraudulently tak-
ing ballot paper #146672
out of polling division
number 12 in the Farm
Road and Centerville Con-
stituency, having possessed
a counterfeit ballot paper
known not to be genuine
and uttering a counterfeit
document. .

Parliamentary Commis-
sioner Errol Bethel and
presiding officer for the
polling division in ques-
tion, Cynthia Wilson, have
already testified at the tri-
al.

On Thursday, Magis-
trate Sylvester noted that
she will have Swain taken
into custody until the com-
pletion of the trial if he
fails to appear in court
again.

The case has been
adjourned to next Tuesday
at 10am. Calvin Seymour
of the Attorney General’s
Office is prosecuting the
case, with the assistance of
Shavon Bethel.

Vice President
Dick Cheney



visits Panhandle

mi FORT WALTON
BEACH, Fla.

VICE PRESIDENT
Dick Cheney is visiting the
Panhandle to raise money
for U.S. Rep. Jeff Miller,
according to Associated
Press.

Cheney will be in Fort
Walton Beach Friday. He
will be speaking at the
Northwest Florida Fair-
grounds to also raise cam-
paign funds for the Nation-
al Republican National
Committee.

Attendees paid $100
each, or $2,000 for two
people and a photo oppor-
tunity with the vice presi-
dent.

Miller, a Republican
from Chumuckla, is seek-
ing a fourth term in office.
His district covers Escam-
bia, Santa Rosa and
Okaloosa counties.

Miller is up against
Democratic contenders
James E. Bryan and
Robert Crockett Peterman
II, and Independent Joe
Roberts.

3PORTS SECTION

SOONG oooh ceceetessecete e120, 0140
COMICS srnninennnnennnnnnnnncePB
Se

ASSIFIED SECTION 36 PAGES

SA TODAY WEEKEND EDITION 8 PAGES



.should be commercially har-





Anger at acquittal




_ LOCAL NEWS

in toddler tragedy |

BAHAMIANS reacted with anger and dis-
may yesterday following the acquittal of three
defendants in the Paradise Island toddler
tragedy.

They criticised the Attorney General’s Office
and said the verdict would again expose the
Bahamas to international shame. ,

Justice campaigners Greg and Tanya Cash
expressed “great disappointment” after hear-
ing that Judge Elliot Lockhart had directed the
nine-member jury to acquit rE legal delib-
erations.

Mr Cash said: “This once again shows
that our system is at fault. What is happening

in our country? How can we dismiss such a

case?”

Discussions

The judge’s decision to direct an acquittal
came after legal discussions in the jury’s absence.

Charges of manslaughter against three defen-
dants were thrown out, leaving a friend of the
toddler’s family to yell out in protest that justice
had not been served.

Paul Gallagher Jnr, a two-year-old toddler,
was asleep in his pushchair on Cabbage Beach in
2002 when an out-of-control motorboat charged

Sea turtles
Beit
endangered
TM LETS

SEA turtles are rapidly
becoming an endangered
species in the Bahamas, animal
experts reveal.

They say tough new laws are
the only way to slow the rapid-
ly accelerating disappearance
of these creatures.

Kevin Dagenhard, executive
director of the Bahamas
Humane Society and Eric
Carey, executive director of the
Bahamas National Trust, sat
with Romauld Ferreira on
Bahamas@Sunrise this week to
discuss the disturbing trend.

Presently, fishermen are
allowed to catch most species.
sea turtles within three to four
days of the season opening and
closing. But this has led to over-
fishing, the experts say — and
now there are significantly few-
er turtles in Bahamian waters.

Mr Dagenhard and Mr Carey
agreed that there should be a
moratorium on catching the tur-
tles.

The pointed out that the ani-
mals are extremely sensitive to
sunlight and are often cruelly
treated by the fishermen, who
catch them and leave them
exposed to the sun’s rays.

Mr Carey recalled an incident
in which a fisherman tortured
a turtle in this way so as to
induce a horrified bystander to
buy it from him at a handsome
a profit.

The experts said that many
videos of Bahamian fishermen
being cruel to turtles are now
available on the internet — for
all the world to see.

Both men said they are
deeply concerned. about the
trend.

Mr Carey said: “Turtle pro-
tection is a no-brainer. We’re
long past the days when we
















vesting Green Turtles”.

Mr Dagenhard,said he is
hopeful that the new legislation
that is being proposed to protect
the sea creatures will pass, and
that marine experts will work
to explain to fishermen how
important it is to protect the |
turtles.

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on to the sand, causing horrific injuries which led
to his death.

For six years, his parents fought for a hearing
before the Bahamas courts, claiming that some-
one must be held responsible for the tragedy.

Mr Cash said: “This Gallagher case has really
upset our spirits. My wife and I are very upset.”

Children’s rights campaigner Clever Dun-
combe criticised the Attorney General’s Office
for not presenting a stronger case.

He said the outcome had “international impli-
cations” because it once again showed the world
how inefficient and dysfunctional the country’s
legal system is.

“This is a sad day for the Gallaghers. My heart
really goes out to them,” he said.

Other Bahamians called The Tribune to
protest.

One reader said: “This is wrong. This family
has not been given justice. It is a disgrace.”

During the hearing, the jury was told that the
boat driver was trying to “right” his banana float
when the tragedy happened.

He was at the back of the boat when his feet
became entangled in rope. As a result, the boat
veered out of control, striking the beach.

Paul Jnr was sleeping in his pushchair when
the boat struck. He suffered severe head injuries
and doctors were unable to save him.

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TEL: 380-FLIX.



TENDER FOR THE PROVISION OF

FUEL SYSTEM REPAIRS
POWER STATION SITE

HATCHET BAY













The Baha as ElsctHetty Corporati -
invites Tenders from eligible bidders for —
the provision of Fuel Tank Repairs at the
Corporation’s Hatchet Bay, _
Eleuthera Power Station Site.











Bidders are required to collect Sarkanes
from the Corporation's Administration

Offi ice, Blue Hill & Tucker Roads by con-

~ tacting Mrs. Delmeta Seymour,

Telephone No. 302- 1158.















Tenders are to. be delivered on or bet
28rd May 2008, 3:00 oe m.
and. addressed as follo

Tee AP Cree ae OW















- Bahamas Electricity Corporation
Blue Hill & Tucker Roads
Nassau, Bahamas




Marked: Tender No. 663/08
Fuel System Repairs
Power Station Site _
Hatchet Bay
- Eleuthera, Bahamas











The Corsoration reserves s the right to
accept or reject the whole or such part
of ay Tender the eorenenon













OMT rel otal aw



Life. Money. Balance both:



PAGE 4, SATURDAY, APRIL 26, 2008

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE





The Tribune Limited

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

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

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

(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

Shirley Street, P.O. Box N-3207, Nassau, Bahamas
Insurance Management Building., P.O. F-485, Freeport, Grand Bahama

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

A food disaster is brewing

NEW YORK — The ability of rela-
tively fewer farmers and acres of farm-
land to feed ever-greater multitudes has
been one of the wonders of the mod-
ern era, a development that has held
out the promise of not only alleviating
but actually banishing hunger. Such a
thing seems possible, but the world
serves up constant reminders that
hunger persists, despite — and some-
times because of — the march of
progress.

New reminders can be found in the
news now, and their implications are
frightening. According to the United
Nations’ Food and Agriculture Organi-
zation, 100 million people in 36 coun-
tries are currently at risk due to the
soaring prices of commodity staples
such as rice. Their desperation is
already evident in places such as Haiti
and Egypt, which have seen riots in
response to food shortages.

When and where there is hunger,
there are usually a variety of culprits. In
the current case, drought in Australia, a
major source of grain for much of Asia
and elsewhere, has combined with sky-
rocketing fuel prices as proximate caus-
es. The effects of these causes have been
magnified by the fierce competition for
scarce resources brought on by the eco-
nomic mega-booms in nations such as
China and India. And they have, in turn,
exposed glaring flaws in the global food
infrastructure.

Many of these flaws turn on issues of
politics and economics, rather than nat-
ural occurrences such as crop failure.
The global economy means that reduced
crop yields in a major supplier such as
Australia lead to rampant speculation
on world commodities markets, driving
up prices. The global economy has also
led many developed countries to turn to
protectionist policies for their domestic
farmers, while international lending
policies for developing nations discour-
age native agriculture and encourage -
imports. So when a big food exporter
can’t deliver, there can be precious lit-
tle food supply left at home to pick up

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Serving The Bahamian Community

Since 1978

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DON STAINTON

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PHONE: 322-8160 OR 3 2-8219



the slack.

The politics of farm subsidies also
influence decisions on land use. The
increase in ethanol production here and
abroad has at least as much to do with
placating farmers and agribusiness as it
does with environmental and energy
independence concerns. When more
acreage is devoted to corn for ethanol,
less is available for food production.
Similarly, an increase in meat con-
sumption worldwide has meant more
grain is grown for cattle and less for
humans. Cows are natural grass eaters,
not corn eaters; they are fed corn in
part to get rid of what was a surplus
born of subsidy.

Citing the huge numbers of people.

endangered worldwide, the U.N. has
called this crisis a “silent tsunami.” Here
in the United States, food is less often a
matter of life or death, but it is putting
an additional and dangerous strain on
families who are already struggling to
get by in a faltering economy. Wages
have remained stagnant, unemployment
is up, and food prices are going through
the roof — you do the math. Already
there are reports of charitable food
pantries unable to meet the needs of
those they serve.

A disaster is brewing worldwide, and

here at home the faltering economy is
taking on a nasty edge. First, the fore-
closure wave threatens shelter; now,
out-of-control prices threaten food. And
yet we are hearing virtually nothing
about this from a presidential race that
is increasingly lost in a thicket of trivi-
alities.

For this, we can blame the candidates,
but we also can blame our media. This
week, your reporter heard a cable-news
anchor ask a correspondent if rising
food prices meant that people are “eat-
ing out in cheaper restaurants.” I don’t

_ know what planet this man is living on,

but here on Earth, people are going

hungry.

This article appears courtesy
of Hearst Newspapers



NOTICE is

hereby given
of BALFOUR AVE #3, 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 19th day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

FOR SALE

Disgust with
the media

EDITOR, The Tribune.

YOU know that newspaper
readers and electronic media
listeners are totally fed up and
disgusted with the mass media

when the most read and lis-~

tened to sections are the obit-
uaries.

The media generally in the
Bahamas is so biased in its
reporting that one can hardly
distinguish between what is
actual truth from what is man-
ufactured..Truth is truth and
it should never matter where
the chips fall, so long as the
unadulterated truth is reported
in all its gory details.

A free press, in a democracy,
is commonly known as the
“Third Force” ranking it very
high up among the important
institutions in a society, which
helps make democracy work,
effectively. The press is sup-
posed to mirror the communi-
ties it serves and should always
convey the reflection of who
people are; what they are all
about and how well they man-
age the freedoms given them
under their various constitu-
tions. The press should give a
true picture of what actually
goes on and not give, screened
and selective, items that a par-
ticular editor, with their own
agenda, wishes you to know on
any given day of the week. The
“Pen” is said to be mightier
than the sword, and when put
in perspective, no one can
deny that assumption.

It is my view, that most
Bahamian politicians would
not be able to survive the spot-
light of the American system
of media scrutiny. In that sys-
tem, if you put yourself for-
ward as a candidate for elec-
tive office, be prepared for a
total airing of your whole life
from childhood to your pre-
sent state.

Things which you have for-
gotten; your bedroom business;
childhood friends; your par-
ents, are all fair game for

America’s probing press and |

there is no other consideration,
other than the public’s right to
know. They are obsessed with
and relentless in, reporting the
true facts, notwithstanding
who is helped or hurt by them.
It was interesting to note that
in the present democratic race
between Senator Clinton and
Senator Obama, the media, for
almost a week, had the good
senator answering questions
about a relationship he had
with a man who he served with
on a corporate board; the man
was somewhat of a rebel when
Senator Obama was a little
boy of eight years, but the
press is demanding that the
good Senator answer to this
relationship, as they contend
that this association speaks
volumes about the Senator’s
character.

NOTICE

that JULIA DOLCE



RD

2006 Mercedes Benz ctss00-soo0cc
Fully Loaded - Limited Edition
Just Like New!

Contact: 702-2015

DasMess

lotters@tnbunemedia.net






The press, in the Bahamas, is
anything but free. Essentially
owned by a single publishing
magnate, its editorial position
has materialised down the side
of one political viewpoint, to
the exclusion of all others. The
editor/publisher’s objectives
seem to come down to:

(1) publish anything and
everything that would promote
their own political views and

(2) publish anything and
everything that would demote
all other opposing political
views, without exception. The
Bahamian media is no more
effective, in the Bahamas, in
terms of the role it should play
in our democracy, than those
in communist China, Cuba
and/or Iran.

More than four decades ago,

before the advent of majority |

rule, the leading Bahamian
publication’s editorial board
of one, took the decision to
fight, at all cost the efforts of
the Progressive Liberal Party
(PLP) to promote the libera-
tion of the majority popula-
tion; its educational, economic
and social interests and its pur-
suit of its independence from
Great Britain in 1973.

The Tribune also promoted
and stood alongside those in
the Abacos, who wanted to
secede from the Bahamas and
remain a part of Great Britain
when the Bahamas would have
become an independent
nation.

Their venomous dislike for
the PLP and its successive gov-
ernment’s policies and objec-

tives should not be unexpected -

as it has become, after all these
years, endemic and a part of

.what motivates their contin-

ued existence.

The Tribune has built up a
fortune over these many years
of enjoying an almost monop-
olistic market share and has
used their unneeded resources
to fight successive PLP gov-
ernments in their quest to rid
the majority population of all
the remaining vestiges of slav-
ery and the slavery mentality.
The Progressive Liberal Party
has never had the good for-
tune of “fair comment” from
the media, period, and even
when they are obliged to print
a positive story, they would,
conveniently, arrange the Edi-
torial page, for that day, to
explain how that positive story
would be a negative, after all.

Recently, The Tribune was
allowed to purchase the hold-
ings of both The Nassau
Guardian and The Freeport
News. This, in effect, killed any
chances of the Bahamas ever

having a fair, unbiased and.

free press. The consequences
are the same as what happens
in China or Cuba; you will
know what the State wants you
to know; nothing more and

nothing less. In our case, we
get to read what the FNM
(whether they are the govern-
ment or not) wants us to read,
because the owners/publish-
er/editor have all committed
to promoting the FNM and all
its left wing, market forces
policies, while at the same
time, committing themselves
to the total silencing and even-
tual destruction of the PLP.
That is their mission and they
have dedicated: all their
resources to complete that mis-
sion. Can we stop them? Yes
we can. Those are my views.

FORRESTER

J CARROLL JP
Freeport,

Grand Bahama -
April 23, 2008.

(As usual Mr Carroll is way
out in left field. He is not telling
the truth when he says that The
Tribune has bought The Nas-
sau Guardian and The Freeport
News, resulting in those two
publications losing their edito-
rial independence. The Tribune
has not spent one red cent in
the purchase of either publica-
tion. The truth is that The Tri-
bune and The Guardian have
entered into a joint operating
agreement on the business side
of the publications — eventu-
ally one press, one accounts
department, one sales and
delivery section, etc. Neither
newspaper dictates — or even
consults — on the editorial pol-
icy of the oth¢r. Nor do they
consult on how the daily news
should be covered or presented.
In a time of rising costs this
decision to cooperate probably
makes too much business sense
for Mr Carroll to grasp with-
out seeing in it a sinister plan
that includes the destruction of
the PLP.

(Mr Carroll complains that
The Tribune was allowed to
purchase the holdings of The
Guardian and The Freeport
News. ‘The only way that this *
business agreement.could have.
been stopped would have been ©
if these organisations were in
fact located in communist Chi-
na, Cuba, or Iran. As we are
located in the Bahamas, which
is still a democratic country,
regardless of Mr Carroll’s -
belief, this business arrange-
ment will assist the growth of
an independent press.

(Also regardless of what Mr
Carroll says the PLP, and even
its propaganda machine, gets a
fair break in the press. Howev-
er, Mr Carroll is upset that The
Tribune refuses to let the PLP
get away with its propaganda.
This is put into context with
both sides of the story being
told. The issue is then left to
our readers to decide for them-
selves where the truth really
lies.

(Incidentally, we should
point out to Mr Carroll that the
press is known as “the Fourth
Estate” not the “Third Force.”
- Ed).

NOTICE

NOTICE.is hereby given that LOIS C. STODDART of 5TH
STREET, THE GROVE, P.O. BOX CB-12402, NASSAU,
BAHAMAS is applying to the Minister responsible for

Nationality and

itizenship, 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
26th day of April 2008 to the Minister responsible for
Nationality and Citizenship, P.O.Box N- 7147, Nassau,

Bahamas.

NOTICE

NOTICE is hereby

iven

that DAVID EDWARD

JENNETTE of 57 SEA VIEW LANE, P.O. BOX F-60287,
FREEPORT, GRAND BAHAMA, BAHAMAS is applying
to the Minister responsible for Nationality and Citizenship,
for registration/naturalization as a citizen of The
Bahamas, and that any person who knows any reason
why registration/ naturalization should not be granted,
should send a written and signed statement of the facts
within twenty-eight days from the 26th day of April 2008
to the Minister responsible for Nationality and Citizenship,
P.O.Box N- 7147, Nassau, Bahamas.

Established Bahamian Company in Construction,
Service and Retail
Is looking to hire an energetic and ambitious Bahamian person as

MANAGER

Salary plus incentive scheme. Also possible share
purchase option. Reply in writing with resume

“MANAGER”, P.O. Box CB-11541





THE TRIBUNE

SATURDAY, APRIL 26, 2008, PAGE 5



Laing: minimum wage

rise not being considered



In brief

Cuban phone
company contracts
7,400 new cellular

accounts in 10 days
M@ HAVANA

CUBA’S telephone monop-
oly says 7,400 new cell phone
accounts have been contract-
ed in the 10 days since all
Cubans were allowed to sign
up for service, according to
Associated Press.

Previously, cellular phones
were offered only to foreign-
ers or Cubans in top govern-
ment positions or jobs with for-
eigners. But many other
Cubans already had cell phones
through contracts foreigners
opened for them.

ETECSA phone company
official Maximo Lafuente
Vazquez says about 300,000
cellular lines already existed
on the island before April 14,
when President Raul Castro’s
new government lifted the
restriction on_ service.
Lafuente’s comments appeared
Thursday in the Communist
Youth newspaper.

A cell phone contract costs
about US$120 (euro76) to acti-
vate — half a year’s wages on
the average state salary.

Suriname govi wants to
revise gold mining contract
with Canadian company

§ PARAMARIBO, Suriname:

SURINAME wants to rene- :
gotiate its contract with a Cana- :

_ dian mining company because }
of soaring gold prices, accord- :

ing to Associated Press.

Natural Resources Minister :
Gregory Rusland said Wednes-
day that prices have risen ;
beyond expectations since the :
government signed a contract
with Rosebel Gold Mines NV :

in 2005.

The South American country :
currently receives royalties ;
amounting to 2 percent of Rose- }
bel’s production as well as pay- :
ments for the use of a hydro- }
electric dam that vary accord-

ing to gold prices.

Rosebel spokesman Roy van
Aerde said the subsidiary of |:
Toronto-based IAMGold is ;

open to discussions.

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

Tropical Exterminators
322-2157



os py uerey axcacroras © 351-3274

Zhivargo Laing



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

THE.GOVERNMENT is not
considering increasing the coun-
try's minimum wage to provide
relief for Bahamians dealing
with a steadily rising cost of liv-
ing, Minister of State for
Finance Zhirvargo Laing said
yesterday.

The raising minimum wage
could become a catalyst for
inflation and force small busi-
ness owners to drastically cut
employment to lower their over-
head costs, he added. ,

“We are looking at some oth-
er things that can be done to
bring some relief, but (increas-
ing minimum wage) is not a con-

Grand Bahama sees slight
rise in unemployment

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

Bahama.

visited.

$40,804.

O



It was estima

FREEPORT - Grand Bahama’s unemployment rate rose
slightly to 8.8 per cent in 2007, according to the latest statistical
figures released yesterday by the Department of Statistics.

According to the Labour Force and Household Survey taken
in 2007, the island’s total labour force comprised of 28,850 per-
sons, 2,540 of which were unemployed.

In 2006, the unemployment rate was at 8.3 per cent, and the
total labour force was slightly smaller at 27,445.

This year, the Departmént of Statistics will conduct its annu-
al labour force survey from May 5 through May 23 on Grand

Clara Lowe, assistant director of the Department of Statistics,
Freeport, said more than 600 households on the island will be

Some 25 enumerators and five supervisors took the oath of
secrecy at an official swearing-in ceremony at the Local Gov-
ernment Training Centre in Freeport.

Mrs Lowe said the information they gather will help to deter-
mine the rate of unemployment, the average household income,
and the labour force size.and composition.

The 2007 statistics showed that individuals aged 35 to 44
accounted for the highest number of persons unemployed on
Grand Bahama at 28 per cent.

The total number of households on Grand Bahama was

15,975, and the total household income was $651,837,500.
ted that the average household income was

Men earned the higher average income of $45,597 over
women who earned an average income of $32,033.

STOREWIDE
APRIL 24-MAY3

FS
&

G.R. Sweeting's



sideration at the moment," said
Mr Laing. "The extent to which
you increase minimum wage
means the cost to (entrepre-
neurs) goes up, and they may
determine it's too expensive to
have as many employees and let
some employees go so that oper-
ating costs stay in line.

Economy

"That's why you can't just
consider increasing minimum
wage, there are implications to
that. In a bad, or slower econo-
my if they are not making more
money and government increas-
es their costs, they are going to
be forced to make some adjust-
ments and that can mean letting
people go, et cetera,” he said.

The government is weighing
other options to counteract the
local effects of the global crisis
of rising food and energy costs
said Mr Laing, who did not want
to preempt announcements the
FNM is expected to make on
the issue in an upcoming session
of the House.

However, he did say that one
of these will be reducing the
costs of foods such as fruits and
vegetables.

He also cautioned Bahamians

THE WESTIN

about taking on additional con-
sumer loans, adding that he does
not think banks should lower
interest rates to encourage con-
sumer spending in the current
economic climate.

"This is the reality: if you are
faced with a situation where you
don't have increased income
coming in, you are uncertain as
to what's going to happen with
your income in the future, the
best thing to do is to be prudent
with your spending," he said,
adding he and his family have
cut down on energy use and fuel
consumption.

However these words of eco-
nomic wisdom provide little
solace to Bahamians struggling
to make ends meet on a small
paycheck.

"Honestly, I feel minimum
wage needs to be increased
because the cost of living is too
expensive and making $150 a
week or $4 an hour, that just
can't cut it when the price of gas
going up. oo

“And then everyday price
control items like cream, sugar
and butter, all them increasing,"
25-year-old Nakeitha Wallace,
who works at a local gas
station, told The Tribune yes-
terday.

GRAND BAHAMA ISLAND
OUR LUCAYA

Resort

EXCELLENT CAREER OPPORTUNITY EXIST FOR

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

iS)

Although she doesn't have
any children and lives at home,
Nakeitha said she has had to cut
down on "going out and party-
ing" because necessities like
food and gas are eating away at
her paycheck.

Trade Union leaders recently
called for an increase in the $150
minimum wage for the private
sector following a US State
Department Human Rights
Report which said Bahamian
minimum wage "did not provide
a decent standard of living for a
worker and family".

The civil service minimum
wage is currently $212.

Study

A 2007 Inter-American
Development Bank study
revealed that the Bahamas’ min-
imum wage is 50 per cent higher
than Trinidad and Tobago's
when measured against per capi-
ta income.

' The same report also said the
Bahamas' minimum wage
was 15 per cent higher that the
US'.

The country's Minimum
Wage Act was introduced in
2001 by the first FNM adminis-
tration.

OUR LUCAYA

in computer programs, Excel and Microsoft word.

Asian Sous

This successful candidate will assist the executive
chef and oversee the day-to-day culinary
operations of the hotel’s “fine dinirig” room, train
and supervise staff and monitor food quality.

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.

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.

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

Chef

food quality.

RESORT

Director of Golf

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 18-holes golf courses.

_ A minimum of ten years golf experience in a managerial
capacity, exemplary customer and human resources skills,
proven experience in cost and revenue management,
forecasting and training.

Executive Sous Chef

Successful candidate will support and assist the executive
chef by overseeing the day-to-day culinary and banquet
operations and will train and supervise staff and monitor

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.

inspections.

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 modem buffet set up techniques.

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

Basic computational and budgetary analysis capabilities
required. Thorough working knowledge in Excel, Delphi
and Microsoft word. Extensive knowledge of sales and hotel
and competitive market. Bachelor’s degree preferred. At
least 3 years experience in hotel sales preferred.

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

Institution preferred.

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





PAGE 6, SATURDAY, APRIL 26, 2008

THE TRIBUNE



The Wight kind of music

f CENTRAL GOSPEL CHAPEL

CI ere & DOWDESWELL STREETS ® Tel: 325-2921



10-00 a.m: Breaking of ‘Bread Service
71:00 a.m. Memberstipy Meeting
6:30 p.m. Prayer Rally
Speaker: Paster Cranston ‘Kneules
~ Bible Class: 9:45 a.m. © Breaking of Bread Service: 10:45 a.m.
( * Community Outreach: 11:30 a.m. ¢ Evening Service: 7:00 p.m.

° Midweek Service 7:30 p.m. (Wednesdays)
Ji * Sisters’ Prayer Meeting: 10:00 a.m. {2nd Thursday of each month)

OPPORTUNITIES FOR
WORSHIP AND MINISTRY

SUNDAY SERVICES
Moming Worship Service ......
Sunday School for all ages...
Adult Education

Worship Service

Spanish S@NVICE os osccieenee
Evening Worship Service oo...

WEDNESDAY at 7:30 p.m.
Selective Bible Teaching

Royal Rangers (Boys Club) 4-16 yts.
Missionettes (Girls Club) 4-16 yrs.

FRIDAY at 7:30 p.m.

Youth Ministry Meeting

RADIO MINISTRY

Sundays af 8:30 am, - ZNS 1 - TEMPLE TIME

| Visit Our Book Store: TEMPLE BIBLE & BOOK SUPPLY

EVANGELISTIC TEMPLE

Assembly Of God

Oe OE ne accu mae cme LS
Tel: 322-8304, Fax: 322-4793. P.0. Box: N-1566
PN GUC ea 2 Wee edi Saat aL

8.30 am.
9.45a.m.
O45 am.
11.00.0.m.
8.00 a.m.
6.30 p.m.









THE BAHAMAS CONFERENCE OF THE METHODIST CHURCH

Hillside Estates, Baltic Avenue, Off Mackey Street.
puma 2:0. Box SS-5103, Nassau, Bahamas
vomemma Phone: 393-3726/393-2355/Fax:393-8135

mem CHURCH SERVICES
SUNDAY, APRIL 27, 2008
a aw SIXTH SUNDAY OF EASTER

AGAPE METHODIST CHURCH, Soldier Road
11:00AM Rey. Mark Carey

ASCENSION METHODIST CHURCH,
Prince Charles Drive

11:00AM Rev. Dr. Laverne Lockhart

COKE MEMORIAL METHODIST CHURCH,
Bernard Road
11:00AM

CURRY MEMORIAL METHODIST CHURCH,
Zion Boulevard

10:00AM

EBENEZER METHODIST CHURCH,

East Shirley Street

11:00AM
7:00PM

GLOBAL VILLAGE METHODIST CHURCH,
Queen’s College Campus
9:30AM Rey. James Neilly

ST. MICHAEL’S METHODIST CHURCH, Churchill Avenue
8:00AM Connections - Rev. Philip Stubbs
9:30AM Rey. Philip Stubbs

TRINITY METHODIST CHURCH, Frederick Street
11:00AM Rey. William Higgs




Pastor Charles Moss

Rey. Charles Sweeting

Rey. Charles New/Gift Day’
Rey. Charles New



RADIO PROGRAMMES

‘RENEWAL’ on Sunday at 10:30 a.m. on ZNS 1

Your Host: | Rev. Charles A. Sweeting
‘METHODIST MOMENTS?’ on each weekday at 6:55 a.m.

Your Host: Rey. Charles A. Sweeting
SHE ee a foe a ff 2 A 2 A ea ER AC EI OR ORR CE



4

The 2008 General Conference will be held May
21-25, 2008 at Wesley Methodist Church, Harbour
Island under the theme: “ Peace Begins With Me.”





P “Grants Gown Wesley Methodist cy

(Ballou Hill Rd & Chapel Street) RO.Box CB-13046 tt
he Holy Ghost Prayer-Line number is 326- 7427
(www.gtwesley.org)

SUNDAY, APRIL 27TH, 2008.
ion
7:00 p.m.








Rev. Carla Culmer/Bro. Franklyn Bethel



Sanctuary Choir Anniversary




Santuary Choir








{Casting our cares upon Him, for He cares for us” (1 Peter 5:7)



RYDE, Isle of Wight, Eng-
land — Master drummer
Quentin “Barabbas” Woodside,
of Barabbas and the Tribe,
shows Greenmount Primary
School students how a junkanoo
drum sounds, during a visit to
the school on April 22. Mr
Woodside is a member of the
Bahamian team of junkanoo
artisans and performers on the
English island undertaking a
residency programme there.

Lead beller Frank “Laing”
Wallace of the Saxon Superstars
poses with Greenmount Prima-
ry School female students who
won a bell-ringing challenge
against the boys

Treilon “Raker” Stuart of the
Saxon Superstars shows the stu-
dents a basic fringe and paste
pattern on a white sheet of
paper

Ms Junkanoo Bahamas and
Valleys Boys member Devia
“Diva” Wilson leads students
in a basic dance routine

_ Barabbas poses with the stu-
dents

AS part of Coastal
Awareness Week, the
Bahamas National Trust
hosted a display at the Mall
at Marathon to educate the
public about the impor- .
tance of coastal wetlands
and the ongoing attacks
they endure from natural
environmental change and
human behavior.

The effort was a lead-up
to a full scale campaign
promoting the conserva-
tion of Bahamian wetlands
with the Trust partnering
with the US-based environ-
mental organisation, Rare.

Pictured (l-r) are Trust
volunteer Chrystal Bethell,
student Felicia Archer and
Shelley Cant, BNT educa-
tion officer. Felicia, a stu-
dent at DW Davis, was the
contest winner, successful-
ly answering the most envi-
ronmental questions cor-
rectly in a game specifical-
ly encouraging youth to
learn about wetland con-

servation. Photo courtesy of BNT

THE BAHAMAS, TURKS AND CAICOS fhe
, ISLANDS CONFERENCE |. Re
OF THE METHODIST CHURCH IN THE
CARIBBEAN AND THE AMERICAS
3x L’EGLISE METHODISTE DANSLA ~ a
CARAIBE ET LES AMERIQUES NASSAU" Sena S
CIRCUIT OF CHURCHES
108 Montrose Avenue
P.O. Box EE-16379, Nassau, Bahamas; Telephone: 325-6432;
Fax: 328-2784; methodistconference@msn.com

METHODISM: RAISED UP IN THE PROVIDENCE OF GOD,
TO REFORM THE NATION, BUT ESPECIALLY THE CHURCH ~
AND TO SPREAD SCRIPTURAL HOLINESS THROUGHOUT

’ THE LAND (Father John Wesley)
“Celebrating 225 years of continuous Methodist witness for Christ
in The Bahamas”
SIXTH LORD’S DAY OF THE RESURRECTION, APRIL 27,
2008.

COLLECT: God our redeemer, you have delivered us from thé power
of darkness and brought us into the kingdom of your Son: grant, that
as by his death he has recalled us to life, so by his continual presence
in us he may raise us to eternal joy; through Jesus Christ yout Son our
Lord.

WESLEY METHODIST CHURCH (Malcolm Rd East)
7:00 a.m. Rev. Edward J. Sykes (Holy Communion)
11:00 a.m. Rev. Edward J. Sykes
RHODES MEMORIAL METHODIST CHURCH (108 Montrose
Ave. near Wulff Rd)
10:00 a.m. Worship at Good Shepherd Anniversary Service
6:30 p.m. Conducted by Eastern Zone
COKE MEMORIAL METHODIST CHURCH (Rose Street, Fox
Hill) °
11:00 a.m. Sis. Ruth Pratt
PROVIDENCE METHODIST CHURCH (Shirley Plaza)
11:00 a.m. Rev. Dr. Kenneth A. Huggins
6:30 p.m. Providence Youth
HERITAGE OF REDEEMING LOVE METHODIST CHURCH
(28 Crawford St, Oakes Field
7:00 a.m. Rev. Leonard G. Roberts Jr. (Holy Communion)
9:00 a.m. Rev. Edward J. Sykes
METHODIST CHURCH OF THE GOOD SHEPHERD (Fire Trail

Rev. Emily A. Demeritte/ Bishop Dr. Raymond

R. Neilly

Anniversary (Holy Communion)
CROIX-DES-MISSIONS ALDERSGATE (Quackoo Street)

5:30 p.m. Fridays Children’s Club

9:00 a.m. Sunday — Rhodes Praise Team

MONSTARY PARK FELLOWSHIP

4:45 p.m. Bishop Dr. Raymond R. Neilly (Holy Communion)
METHODIST MISSION CENTRE (Quackoo St) -Thrift Shop and
other Ministries |
JOHN WESLEY METHODIST COLLEGE (28 Crawford St.,
Oakes Field) Reception to Primary

PEACE AND JUSTICE CAMPAIGN: - All Methodists of the
Conference are urged to pray and to fast for Justice to prevail in
the Methodist Cases and for an end to the upsurge in violence. The
fast begins weekly after the evening meal on Thursday and ends at
noon on Friday. This we proclaim unswervingly: “My God and My
Right.”

RADIO PROGRAMS

“Vision” - On the Lord’s Day, ZNS | at 9 p.m.; “Great Hymns of
Inspiration” - On the Lord’s Day, Radio 810 at 5:30 p.m.; “Family
Vibes” ZNS 1, Tuesday, 7:30 p.m.; “To God be the Glory” ZNS 1,
Tuesday, 7:45 p.m.











| Eric Rose/BIS

anoo drum sounds

nkanoo Bahamas



Sunday School: 10am FUNDAMENTAL |...
Preaching = 11am & 7:30pm EVANGELISTIC
Radio Bible Hour:

Sunday 6pm - ZNS 2

Wed. Prayer & Praise 7:30pm

Pastor:H. Mills

“Preaching the Bible as is, to men as they are”
Pastor: H. Mills © Phone: 393-0563 ¢ Box N-3622

IGHT AND LIFE COMMUNITY CHURCH
Grounded In The Past &
Geared To The Future
Worship time: Llam & 7pm
Sunday School: 9:45am
Prayer time: 6:30pm
Place:
The Madeira Shopping
Center
(Next door to CIBC)

Rev. Dr: Franklin Knowles

- ALL ARE WELCOME TO ATTEND

Pastor: Rev. Dr Franklin Knowles

P.O Box EE-16807
Telephone number 325-5712
EMAIL - lynnk@ batelnet.bs

Grace and Peace Wesleyan Church
A Society of The Free Methodist Church of
North America

(VHERE GOD TS ADORED AND EVERYONE IS AFFIRMED,
Worship Time: Lla.m. & 7p.m.

Prayer Time: 10:15a.m. to 10:45am. ° Ne
27” Church School during Worship Service 2
Place: Twynam Heights
off Prince Charles Drive

Special Event

Spring Tea

April 26, 4-6p.m.

Minister: Rev. Henley Perry
P.O.Box SS-5631
Telephone number: 324-2538
Telefax number: 324-2587

COME TO WORSHIP. LEAVE TO SERVE



THE TRIBUNE | / SATURDAY, APRIL 26, 2008, PAGE 7

The Tribune N Foi



SECO CUm ELLIE) On mer Nc om On mer Nc om Wael

Fabulous a atic

younger than you acl ate? Iso, THE TRIBUNE wants to hear from you. Wei re
coking for timeless beauties - 50 and over - for the launch of the Fabulous at ay Age
- promotion starting this Mother’s Day. :

‘There are three categories to entel












ey

rg Body Beautiful We're looking for women who are in top shysical ft form, lo
and fantastic for their age... .
* Silver Foxes:. When you walk down the street does every third person SepNoU al
CS
you ‘how fabulous your silver tresses look? Do your friends constantly ask for the secre
fabulous: hair? Then we're looking for you.
¢ The Gee f p il nang on the softball team? Never miss ee a-















: Fabulous at A Age aohlcation G form. Mal or hand a ‘your completed applica

with two recent colour phot 0S, four by six or five by seven inches, ‘one close-up and the other.

3 y ) n ind e-mail application forms and: images\ to

features @tribunemedia ne nolude t the following i rmation 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 & John f Bull |

Name: Age: Date of birth:
Address: 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 others who
want to follow your example for a healthy, active, beautiful, “ageless” life (100 words or less):

NEW YVES SAINT LAURENT CLEANSERS
SENSATIONS OF PLEASURE, AMAZING GLOW.



Wessantlaurent

Mall at Marathon 393.4406





PAGE 8, SATURDAY, APRIL 26, 2008








0 In brief

Cuba blasts back at
US over breakup of

Havana protest
lm HAVANA

CUBA is accusing Ameri-
can Officials of fabricating a
small protest in Havana this
week and of financing other
actions against the commu-
nist government, according to
Associated Press.

USS. officials say they
“deplored” Cuba’s handling
of a protest by the wives of 10
political prisoners. Police-

“women carried the women to
a bus and took them home.

But the Cuban Foreign
Ministry blames the U.S. for
encouraging “a small number
of counterrevolutionary ele-
ments.” It notes that U.S.
President George W. Bush
has praised the protesting
group, known as the Women
in White.

Cuba’s statement Thursday
in state news media also
alleges that U.S. officials
have increased aid to Cuban
dissidents, such as giving

RBDF Midshipman escorts Queen at graduation ceremony

MIDSHIPMAN Byron McClain of the Royal Bahamas Defence Force escorts Her Majesty Queen Elizabeth II
them radios, literature, T- during a graduation ceremony on April 10 at the Britannia Royal Naval College, England. The Queen was
shirts and access to comput- inspecting the officers at their passing out parade in Dartmouth, England. Midshipman McClain and RBDF
ers. Midshipman Bovair Davis successfully completed the course.

Eis rova. aFweniry

FG CAPI

TAL MARKE
BROKERAGE & ADVISORY SERVICES






cFAL



Dally Vol. EPS $ Div $

Abaco Markets
Bahamas Property Fund

















: Bank of Bahamas 9.61 9.61 0.160 14.9
0.85 Benchmark 0.99 '0.90 -0.09 1,000 0.188 0.030 4.8
2.50 Bahamas Waste 3.50 3.50 0.00 0.289 0.090 12:4
1.30 Fidelity Bank 2.39 2.39 0.00 0.058 0.040 41.2
10.41 Cable Bahamas 13.70 13.70 0.00 1.093 0.240 12.5
2.10 Colina Holdings 2.87 2.87 0.00 0.091 0.040 31.5
4.75 Commonwealth Bank (S1) 7.13 7.13 0.00 0.428 0.290 16.7
3.60 Consolidated Water BDRs = : 0.08 1,403 0.157 0.052 30.4
8.00 2.20 Doctor's Hospital . A R
0o0 5.94 Famguard
3.01 12.49 Finco
4.75 13.24 — FirstCaribbean
10 5.05 Focol (S)
oo 0.54 Freeport Concrete
ICD Utilities







J. S. Johnson






Bahamas Supermarkets
Caribbean Crossings (Pref)
RND Holdings





6.70%
6.16%
00%

~ ABDAB

Bahamas Supermarkets
RND Hold

SESS SO SESS





RS SS
B2wk-Hi 52wk-Low Fund Name













-3081 1.2443 Colina Bond Fund 1.308126** 1.25% 5.61%
8.0008 2.6629 Colina MSI Preferred Fund 2.996573**** -0.14% 13.11%
.3875 1.2647 Colina Money Market Fund 1.387505*** 0.90% 3.87%
B.7969 3.1827 Fidelity Bahamas G & | Fund 3.7011**** -2.52% 17.78%
2.1010 11.4992 Fidelity Prime Income Fund 12.1010** 1.40% 5.72%
00.0000 100.0000 CFAL Global Bond Fund 100.00**
00.0060 100.0000 CFAL Global Equity Fund 100.00**
-0000 4.0000! CFAL High Grade Bond Fund 54.00**" >






0.5000 9.6346 __ Fidelity International Investment Fund 9.6346*



"29 February 2008

- 31 December 2007

s+ 211 April 2008
*-31 March 2008










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 S$ - Acompany's reported earnings per share for the last 12 mths
% NAV - Net Asset Value
. N/M - Not Meaningful
FINDEX< - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

IS2wk-Hi - Highest closing price in last 52 weeks

IS2wk-Low - Lowest closing price in last 52 weeks

Previous Close - Previous day's weighted price for dally 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

IDIV 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





i,
Abaco

Noe “BAY

ASANO IEEE BEALS



PRG MARR Soo

Vacancy fora
Sales and Marketing Project Director

Overall Responsibilities

Onsite coordination of sales, sales administration and marketing
Achievement of targeted sales volume and maintaining inventory

Develop future (MVCI) managers and implement self development programs
implementation of tour efficiency and building of strong team values
Forecasting and budgeting of annual sales targets

Ensuring communication between personnel and others °

Providing weekly report and updates to Ritz-Carlton/MCVI Comorate offices

Essential Job Functions

Monitor and evaluate sales and marketing processes

Monitor and evaluate specific sales and marketing field operations best practices, policies and
guidelines

Monitor and evaluate structufed sales and marketing presentation training

Review ail sales and marketing assumptions in the feasibility process, ensuring strategic and
operational reasonableness, comparability among PEPS, budgets, forecasts and LRP

Qualifications

College degree

Minimum of ten years in marketing vacation ownership

Minimum of five years in management of sales, marketing and/or administration
Excellent communication, listening and organizational skills

Ability to communicate effectively at senior management level

Strong leadership skills

Ritz Cariton Club experience preferred

Please send resume to the attention of: Director of Human Resources
The Abaco Club on Winding Bay
P.O. Box AB-20571
Marsh Harbour, Abaco
Bahamas
OR
Email: humanresources@theabacoclub.com



THE TRIBUNE






Derek Smith/BIS

? MINISTER OF National Security Tommy Turnquest spoke at the Voice of
: Deliverance’s 26th annual general assembly on Thursday. Pictured at left
: is senior pastor and general overseer, Chief Apostle Leon Wallace.

TENDER FOR THE PROVISION OF S :
CONSULTANCY SERVICES ©
in :
PUBLIC RELATIONS
and/or
ADVERTISING & MARKETING

The Bahamas Electricity Corporation
invites Tenders from eligible bidders for
the provision of Consultancy Services in —

Public Relations and/or Advertising & —

Marketing for the Gorporauon



Bidders are required to collect package
from the Corporation’s Administratio
Office, Blue Hill & Tucker Roads by
contacting Mrs. Delmeta Seymour, a
Phone No. 302-1158.



Tenders are to be delivered on or 1 before
1st May, 2008,3:00p.m.
and addressed as follows:

Mr. Kevin Basden
General Manager
Bahamas Electricity Corporation _
Blue Hill & Tucker Roads

Nassau; Bahamas -

og z:

* Marked: Tender No. 660/08
Consultancy Services in Public Hela .
tions and/or Advertising & Marketing
The Corporation reserves the roht to

accept or reject the whole or such |

part of any Tender the Corporation _ _
deems necessary.

Exuma Lots
For Sale

2 Lots together in Section
16 Bahama Sound Exuma



Call
327-8026
or
359-3160

Yam - 6pm



K. S. Moses



Collins & Rosetta
Tel: 322-7707





Writes Ve Orwe

Banque Privée Edmond de Rothschild Ltd.
(Incorporated under the laws of the Commonwealth of The Bahamas)

Balance Sheet

As of 31 December 2007

(Expressed in Swiss Francs)

‘ Notes 2007 2006

CHF CHF

ASSETS

Due from banks 3&4 _ 62'733'601 67'994'629
. Loans and advances to customers 3&4 23'280'594 5'408'138

Investments in securities 8 6'061'929 4'540'693

Positive replacement values of derivative :

financial instruments 3&7 1'386'125 1'272'571
Investment in subsidiaries 63'740 63'740
Accrued income and prepaid expenses , 3 468'586 336'505
Other assets 23'154 29'913
Fixed assets 5 29'935 52'234
Property and building 6&7 4'812'938 2'165'622

~ TOTAL ASSETS 98'860'602 81'864'045
LIABILITIES AND SHAREHOLDERS’ EQUITY
. Liabilities . ; ;
Due to banks 3&4 12'970'091 3'174'386
Due to customers 3&4 44'760'168 42'211'487
- Negative replacement values of derivative i
’ financial instruments 3&7 1'301'387 171211
Accrued expenses and other liabilities 3 1'615'339 1'203'681
Total Liabilities , 60'646'985_ 47'760'765
Shareholders’ Equity
Share capital +

Authorised, issued and fully paid:

15,000 shares of CHF 1,000 each 15'000'000 i5'000'000
General banking reserve 9 16'000'000 14'000'000
Retained earnings 7'213'617 5'103'280
Total Shareholders’ Equity 38'213'617 34'103'280
TOTAL LIABILITIES AND




SHAREHOLDERS’ EQUITY ; ae nary, 98'860'602 81'864'045

a-behalf of The Board on 18 March 2008:



Disector



Notes to the Balance Sheet
31 December 2007

1.

2.

General Information

Banque Privée Edmond de Rothschild Ltd. (the Bank) is incorporated under the Companies Act,
1992 of the Commonwealth of The Bahamas and is licensed under the Banks and Trust
Companies Regulation Act, 2000, to carry on unrestricted banking and trust business from within
The Bahamas. The principal activities of the Bank are providing banking, investment

management and other financial services. The Bank is a wholly owned subsidiary of Banque .

Privée Edmond de Rothschild S.A., (the parent company) which is incorporated in Geneva,

Switzerland. All significant balances with the parent company and companies in which the

‘parent company controls 20% or more of the issued share capital (termed affiliates) are disclosed
in this balance sheet (see Note 3).

The registered office of the Bank is located at No. 51 Frederick Street, Nassau, Bahamas, and at
the year-end the Bank had 14 (2006: 13) employees.

Significant Accounting Policies

The principal accounting policies applied in the preparation of this balance sheet are set out
below. These policies have been consistently applied to all years presented unless otherwise
stated. :

(a) Basis of preparation

The Bank prepares its balance sheet in accordance with International Financial Reporting
Standards (IFRS) and under the historical cost convention, as modified by the revaluation
of all derivative contracts. .

The preparation of a balance sheet in accordance with IFRS requires management to make
estimates and assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the balance sheet.

In the current year, the Bank has adopted IFRS 7 Financial Instruments: Disclosures and the
amendments to JAS 1 Presentation of Financial Statements, which became effective for
fiscal periods beginning on or after 1 January 2007. The impact of the adoption of IFRS 7
and the changes to LAS 1 has been to expand the disclosures provided in this balance sheet
regarding the Bank’s financial instruments and management of capital.

The remaining standards and amendments and interpretations to published standards that
became effective for fiscal periods beginning on or after 1 January 2007 were not relevant
to the Bank’s operations and accordingly did not impact the Company’s accounting policies |
or balance sheet.

The application of new standards and amendments and.interpretations to existing standards
that have been published but are not yet effective are not expected to have a material impact
on the Company’s accounting policies or balance sheet in the period of initial application.

(b) Change in accounting reference date

In December 2006, the Bank made a decision to change its policy for recording deposit
taking and placement activities from trade date, the date on which details of the deposit are
agreed, to value date. The change was made to align the Bank’s accounting reference date
with that of the parent company who also made a similar change during that year.

(c) Cash and cash equivalents

Cash and cash equivalents consist of cash on hand, demand deposit balinces and precious
metals with banks.

(d) Loans and advances to customers

Loans and advances to customers are stated at the principal amount outstanding less any
specific provisions for impairment which the directors consider necessary. Both loans and
advances to customers are adequately collateralized by cash, cash equivalents and
marketable securities held by the Bank on behalf of the borrowers. Accordingly, the Bank
has not established a provision for impairment of loans and advances.

(e) Investment in subsidiaries

Investment in subsidiaries consists of the Bank’s investment in its four (4) nominee
companies, namely, Ebony Nominees L1d., Ivory Nominees Ltd., Orion Nominees Ltd. and
Mercury Nominees Ltd., and are stated at cost. .The effect of not consolidating the
subsidiaries is immaterial as they each have a nominal amount of share capital and their
activities are limited to providing nominee services on the Bank’s behalf to its customers.

(f) Fixed assets

Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on
the straight-line basis over a period of 3 years, being the estimated useful life of the assets.

(g) Property and building

Property is stated at cost, including legal fees. The building is in the construction phase and
_ therefore not yet depreciated.

: SATURDAY, APRIL 26, 2008, PAG »

’ (b) Valuation of derivative financial instruments

Forward currency contracts are valued using the forward cate for the remaining period to
maturity as of the last business day of the financial year.

Options contracts are valued at the closing settlement price established on the last trading
day of the reporting period by the exchange on which they are principally traded.

(i) investments in securities

Investments in securities comprise securities held-to-maturity and are carried at amortized
cost using the effective interest method, less any provision for impairment. Held-to-
maturity investments are non-derivative financial assets with fixed or determinable
payments and fixed maturities that the Bank’s management has the positive intention and
ability to hold to maturity. If the Bank were to sell other than an insignificant amount of
held-to-maturity investments, the entire category would be reclassified as available-for-sale
and would therefore be measured at fair vulue rather than amortized cost.

All regular way purchases and sales of investments in securities are recognized at trade
date, which is the date the Bank commits to purchuse or sell the securities.

G) Translation of foreign currencies
The currency of The Bahamas is the Bahamian dollar (BSD). However, items included in
the balance sheet are measured using the currency of the primary economic environment in
which the Bank operates (“the functional currency”). The financial statements are presented

in Swiss Francs (CHF) which is the Bank’s functjonal and presentation currency.

Monetary assets and liabilities in currencies other than CHF are translated to CHF at the
rates of exchange prevailing at the year-end.

Non-monetary assets and liabilities in currencies other than CHF are translated to CHF at
the rate of exchange prevailing on the transaction date.

(k) Assets under administration

The Bank commonly acts as trustee and in other fiduciary capacities that result in the
holding or placing of assets on behalf of individuals, trusts and other institutions.

No account is taken in this balance sheet of assets and liabilities of customers held by the
Bank in a trustee, nominee or custodial capacity. ,

3. Balances with Related Parties

Related parties include the parent company and its directors, affiliates and their directors, other
entities over which they exercise significant influence, and key management personnel of the
Bank. This balance sheet includes the following significant balances with related parties:

2007 2006

CHF CHF

000’s 000’s
Balances
Due from banks 35,882 28,530
Loans and advances to customers - _ 76
Derivative financial instruments — assets 873 508
Accrued income and prepaid expenses 40 ‘30
Due to banks ‘ 12,932 _ 2,985
Due to customers 205 241
Derivative financial instruments — liabilities 493 591
Accrued expenses and other liabilities 243 234
Off-Balance Sheet Commitments
Guarantees 17 18

Financial Risk Management :

The Bank engages in transactions that expose it to a variety of financial risks in the normal
course of business. These risks include operational, market, liquidity, interest rate, currency and
credit risk. The Bank’s financial performance is dependent on its ability to understand and
effectively manage these risks. .

e Operational risk

The Bank provides significant asset management, custody and trustee services to third parties.
These activities give rise to an operational risk, which is the risk that the Bank may fail in
carrying out certain mandates in accordance with the wishes of its customers. To manage this
exposure, the Bank has established risk management facilities and installed software to
control the attendant risks. :

o Market risk

Market risk is the risk that there will be a change in the value of a financial instrument due
to changes in general and specific market conditions. The Bank’s exposure to such risks is
concentrated in its held-to-maturity securities. Market risk is considered minimal as the
Bank principally invests in high grade debt securities and intends to hold the securities to
maturity.

° Liquidity risk
This is the risk that the Bank might not have the necessary liquidity to meet its contractual
obligations. The Bank manages its liquidity risk by matching liabilities with assets of

similar maturity periods. The most significant banking assets and liabilities can be
classified, based on the period remaining to maturity as of the balance sheet date as follows:

As of 31 December 2007

Three months Three to Nine to
or less Nine Mouths Twelve Months Total
CHF CHF CHF CHF
Assets /
Due from banks .
- demand 38'336'473 - - 38'336'473
- time 4'397'128 14'000'000 6'000'000 24'397'128
Advances to customers 16'454'034 - - 16'484'034
Fixed term loans 6'826'560 : - 6'826'560
Total OU'VL4'195 14'000'000 6'000'000 86'014'195
Liabilities
Due to banks
- demand 9'598'091 - - 9'598'091
- time 3'372'000 - - 3'372'000
Due to customers :
- demand 44'321'621 - - 44'321'621
- time 438'547 - - 438'547
Total §7'730'259 - - 57'730'259
Liquidity gap 8'283'936 14'000'000 6'000'000 28'283'936
As of 31 December 2006 '
Three mouths Three to Nine to
or less Nine Months Twelve Mouths Total
CHF CHF CHF CHF
Assets
Due from banks
- demand 38'814'683 - - 38'814'683
- time 9'179'946 14'000'000 6'000'000 29'179'946
Advances to customers 5'039'882 - - 5'039'882
Fixed term loans 368'256 : : 368'256
Total ___53'402'767_ __14'000'000_ “__6'000'000_,__73'407'767_
Liabilities
Due to banks
- demand 3'174'386 -. \ - 3'174'386
- time - - - -
Due to customers
- demand 40'753'865 - - 40'753'865
- time 1'457'622 - - 1'457'622
Total . 45'385'872 : : 45'385'873
Liquidity gap _ $'016'S94 14'000'000 6'000'000 28'016'894



PAGE 10, SATURDAY, APRIL 26, 2008





THE TRIBUNE

Commitmen:s and Contingencies

(a) Deriv.tive financial instruments

The Bank enters into forward currency contracts and over-the-counter equity, precious
metals and currency options as part of its customer-related trading activities. Forward
currency contracts are contracts to purchase or sell foreign currencies at specified rates of
exchange on specific dates in the future. Risk arises from the potential inability, of
counterparties to perform under the terms of the contracts (credit risk) and from fluctuations
in the foreign exchange rates (market risk). The Bank manages its market risk of customer-
related positions by taking offsetting positions with its affiliates, resulting in minimal
market exposure. The credit risk of customer positions is managed by applying uniform
credit standards maintained for all activities with credit risk. Collateral held in support of

such derivatives activity generally includes cash, cash equivalents, and marketable
securities.

Equity, precious metals and currency options confer upon the holder the tight but not the
obligation to buy or sell a specified quantity of equities, precious metals or currencies at a
specified price (the strike price) during a specified period. As a writer of equity, precious
metals or currency options, markvi risk arises from potential unfavourable movements in
the price of the equities or currencies underlying the options. Collateral held in support of
such derivative activity generally includes cash, cash equivalents and marketable securities,

As of 31 December 2007, the Bank had contractual commitments under open forward
currency contracts and equity, precious metals and currency options as follows:

2007 2006

CHF CHF:

000’s 000’s
Commitments to purchasc foreign currencies 139,034 150,498
Commitments to sell foreign currencies 138,949 150,397
Options to sell equities, precious metals and currencies - 774

Commitments and Coutiugeacies (Continued)

(a) Derivative financial instruments (Continued)

(b)

The contract amounts of these instruments reflect the extent of the Bank’s involvement in
forward currency contracts and equity, precious metals and currency options and do not
represent the Bank’s risk of loss due to counterparty non-performance. The replacement ~
values of these customer-related derivatives are disclosed on the balance sheet. As of 31
December 2007, the credit risk is limited to those contracts with a positive fair value and
that amounted to CHF 1,386,125 (2006: CHF 1,272,571).

Building construction

As of 31 December 2007 the Bank has outstanding contractual commitments in respect of
the construction of an office building in the amount of BSD 1,1 million.

Investments in Securities — Held-to-Maturity

The fair values below represent the closing trade price established on the last trading day of the
current reporting period by the exchange on which the securities are principally traded.

© Currency risk 7.
Currency risk is the risk that the Ba..k’s financial position, profitability and cash flows Iuay
fluctuate significantly as a result of changes in foreign currency exchange rates. 1 he Bank
manages its currency risk by matching foreign currency liabilities with assets denominated
in the same currency that have the same or similar term. The table below shows the Bank’s
financial instruments at carrying amounts, categorised by currency.

As of 31 December 2007 in CHF 000's

CHE USD EUR Other Total
Assets |
Due from banks 29'283 2'470 25'466 S'S15 62'734
Loans and advances to customers 320 22'289 591 81 ea
Investments in securities 6'062 - - - aie
Derivative financial instruments 1'386 - - - 1'386
Investment in subsidiaries 64 - - : 64
Accrued income and ‘
prepaid expenses 456 9 3 - 468
" ‘Other assets - 17 - 6 23
Fixed assets 30 - - - 30
Property and building ‘8 i
Total assets ___ 42414 __24°785. __26:060. ___5'602_ ___9a'sol_
Liabilities : . , .
Due to banks 22 12'601 103 244 12'970
Due to customers 3'125 10'522 25'983 5'130 44'760
Derivative financial instuments 1'301 - - - 1'301
Accrued expenses and —
other liabilities ___ 1048 566 LL
Total liabilities 5496 __ 23/689 __ 26088 _5374. __60'647_
oe 7.
CHF USD EUR Other Total
Assets :
Due from banks 42'386 14'155 8'367 3'087 67'995
Loans and advances to customers 402 4'182 341 483 5'408
Investments in securities 4'541 - - - 4'541
Derivative financial instruments 1'272 - - - ‘V272
Investment in subsidiaries 64 - - - 64
Accrued income and
prepaid expenses 320 13 2 1 336
Other assets - 23 - 7 30
Fixed assets 52 - - - 52
Property and building Bo : 2166
Total assets ___51'203. ____18'373. __8'710. ____3578 ___81'864_
Liabilities 8.
Due to banks “ - 2'984 35 155 3'174
Due to customers 16'608 13'537 8'836 3'231 42'212 '
Derivative financial instruments 1171 - - - 71
Accrued expenses and .
other liabilities 684 518 2 : 1'204
Total liabilities ——18463. __17039. __8873 —__3386. ___47'761_
Net on-balance sheet position 32740, eed 334, eR ete
e Credit risk
Credit risk arises from the failure of a counterparty to perform according to the terms of the
contract. From this perspective, the Bank’s credit risk exposure is primarily concentrated in
its deposits placed with other banking institutions and in its loans and advances to customers.
The Bank’s deposits have been placed with high quality international banking institutions,
and loans, advances and credit commitments to customers are fully collateralized by assets
held by.the Bank on behalf of these customers.
The following table presents the Bank’s main credit exposure by geographical location, based
on the domicile of the counterparty:
2007 2007 2006 2006 9
CHF CHF
000’s % 000’s %

Assets

Switzerland 24'899 25 27612 34

Luxembourg 33'864 34 28'188 34

United States of America 2'253 2 2'103 3 10

British Virgin Islands 4'280 4 1'069 1

Belgium 4000 4 2'000 2

The Bahamas 19438 20 4154 5

Panama 2741 3 803 1

Netherlands % - - 10'000 12

Venezuela 2'564 3 3'034 4.

Other 4'822 5 ' 4

__98'861 00 ___81'864, 0

Credit Commitments
British Virgin Islands 5'626 92 11'428 95
Other , 484 8 583 .
6'110 100_- 12'011 100

e Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument
will fluctuate because of changes in market interest rates. The Bank’s exposure to fair
value interest rate risk is concentrated in its investment securities, which are at fixed
interest rates. The Bank does not consider this risk to be significant, as it intends to hold
the investments to maturity.

5. Fixed Assets
Furniture
Leasehold Motor and Computer
Improvements —_ Vehicles Fixtures Equipment Total
CHF CHF CHF CHF CHF
Cost
Balance as of 1 January 2007 138'718 131'226 280'127 443'306 993'377
‘Additions 7 z S 18'104 L8'104
Balance as of 31 December 2007 138'718 131'226 280'127 4G1'410 L'011'481
Accumulated depreciation
Balance as of 1 January 2007 138'718 97486 , = 270'015 428'924 941'143
Charge for the year : 16'370 412 1942) 40°43
Balance as of 31 December 2007 138'718 114356. 280'!27 448'345 981'546
Net Book Value as of:
‘ 11.
3) December 2007 = =. 16'870 : 13005, 29°935
31 December 2006 33'740 4'112 1 4°38 _ 52'234
6. Property and Building

Jn 2006 the Bank purchased property in Nassau, Bahamas and is constructing thereon a building
for its office premises with a budyeted cost ef BSD 5,0€0,000. At the balance sheet date, costs of
BSD 3,928,859 (CHF 4,812,938) nave been incurred afd are included as property and building.
The building is expected to be completed for vecyipancy in 2008

.

Interest Atnortized Fair

Units —_— Bonds Rate Maturity Cost Value

CHF CHF . air
500000 Citigroup Inc - EM- 1.50% 07.04.08 499695 497650
500000 UBS AG Jersey Branch 1.75% 0212.08 502'312 493'000
500000 Italie- EMT- 2.00% — 30.04.09 497425 494900
500000 Province of Ontario -EMI- 2.00% — 15.09.09 S0SS69 494750
500000 Colgate-Palmplive Co 1.875% 06.04.10 503'353 487000
500000 New York Life Funding - EMT - 2.125% 181210 495137 483'250
500000 HSBC Finance Corp - EMI- 275% 14.06.11 500122 489750
500000 General Electric Capital Corp GBOC 1.75% 25.10.11 499403 475250
500000 Aegon Global Institutional Markets PLC 275% 15.02.12 498212 480250
500000 Credit Suisse London Branch 3.00% 04.06.12 500352 494'500
500000 Swedish Covered Bond Corporation 279% 14.06.13 495045 489500
500000 Compagnie de Finuncenent Foncier - EMT - 3.125% 10.10.14 502'158 500500
5998783 3830300

Included in the amortised cost of held-to-maturity investments on the balance sheet is accrued
interest receivable amounting to CHF 63,146 (2006: CHF 34,006).

General Banking Reserve

The Bank makes appropriations from retained earnings to a general banking reserve for
unforeseeable risks and future losses. The general banking reserve can only be distributed
following approval by the shareholders in a general meeting.

Capital Management

The Bank’s objectives when manaying Capital are:

e Tocomply with the capital requirements set by the Central Bank of The Bahamas (the Central

Bank);

e To safeguard the Bank’s ability to continue as a going concern so that it can continue to
provide retums for its shareholders and benefits for other stakeholders; and
e To maintain a strong capital base to support the development of its business.

Capital adequacy and the use of regulatory capital are monitored by the Bank’s management,
employing techniques designed to ensure compliance with guidelines established by the Central
Bank. The required information is filed with the Central Bank on a quarterly basis.

The Central Bank requires each entity with a public bank and trust licence to: (a) have regulatory
capital of at least $5,000,000 and (b) maintain a ratio of total regulatory capital to risk-weighted

assets at or above a minimum of 8%.

The table below summarises the composition of regulatory capital and shows the capital adequacy
ratio of the Bank as of the balance sheet date. The Bank has complied with all of the externally

imposed capital requirements to which it is subject.

Tier 1 capital
Share capital
General reserve
Retained earings

Total Tier 1 capital

Less adjustments to base capital
Total eligible base capital
Risk-weighted assets

Capital adequacy ratio

2007
CHF

15'000'000
16'000'000
7':213'617

38'213'617



69%

Fair Value Estimation of Financial Instruments

2006
CHF

15'000'000
14'000'000
5'103'280
34'103'280
63 1] 40

341'939°

39'951'277

85%

Financial instruments utilised by the Bank include recorded assets and liabilitics shown in the
balance sheet, as well as items disclosed in these financial statements that principally involve off-
balance sheet risk. The majority of the Bank’s financial instruments, except those disclosed in

Note 8, are either short-term in nature or have interest rates that automatically reset to m

urket on a

periodic basis. Accordingly, their estimated fair values are not significantly different trom their
carrying values for each major category of the Bunk’s recorded assets 2nd liabilities.



THE TRIBUNE







PRICEWATERHOUSE(COPERS



| PrivewaterhouseCoupers
Providence House
East Hill Strect
P.O. Box N-3910
Nassau, Bahamas
Website: www.pwe.com
1:-mail: pwebs@bs.pwe.com
felephone (242) 302-5300
Favsimile (242) 302-5350







INDEPENDENT AUDITORS’ REPORT

To the Suareholders of Banque Privée Edmond de Rothschild Ltd.

We have audited the accompanying balance sheet of Banque Privée Edmond de Rothschild Ltd. (the
Bank), and a summary of significant accounting policies and other explanatory notes.




Management's Responsibility Jor the Balance Sheet


























Management is responsible for the preparation and fair presentation of this balance sheet in accordance
with International Financial Reporting Standards. This responsibility includes: designing, implementing
and maintaining internal contro! relevant to the preparation and fair presentation of financial statemeuts
that are free from material misstatement, whether due to fraud or error; selecting and applying
appropriate accounting policies; and making accounting estimates that are reasonable in the
circumstances. :

Auditors’ Responsibility



Our responsibility is to express an opinion on this balance sheet based on our audit. We conducted our
audit in accordance with International Standards on Auditing. Those standards require that we comply
with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the
balance sheet is free from material misstatement.



An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditors’ judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or
error. In making those risk assessments, the auditors consider internal contro] relevant to the entily’s
preparation and fair presentation of the financial statements in order to design audit procedures that are
appropriate in 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 financial statements. :



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 accompanying 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.

Emphasis of Matter



| Without qualifying our opinion, we emphasise that the accompanying balance sheet does not comprise
i a complete set of financial statements in accordance with International Financial Reporting Standards.
Information on results of operations, cash flows and changes in equity is necessary to obtain a
complete understanding of the financial position, performance and changes in financial position of
Banque Privée Edmond de Rothschild Ltd.

Pocansdp ana Loopn

Chartered Accountants
Nassau, The Bahamas
} 18 March 2008

WSS
We

BRISTOL

ve o3

WINES & SPIRITS
PUBLIC NOTICE

To: All Our Valued Customers

Please be advised that the main
warehouse of Bristol Wines & Spirits,
Gladstone Road will be closed for
inventory count on Wednesday April
30th. Our Customer Service Dept will
receive all orders for delivery before 11
am on Tuesday 29th and will re-open
for business on Thursday 1st May.

We will be happy to fill any orders you
have on the 30th from one of our Retail
outlets near you.



-SATURDAY, APRIL 26, 2008, PAGE 11
NS

FROM page one

pubescent camera person instructed her to move out of
the way.

Another 31,743 viewers saw an all-out riot in
Pinewood Gardens between girls from C H Reeves
and R M Bailey schools which began on a jitney and
ended in the street.

One poster wrote: “I am sick and tired of these lil’
children acting like wild animals. . primitive. This coun-
try will be in the gutter if you leave it up to them and the
thing is most of these children are scared of their par-
ents and want to show up so people think they’re cool.”

Government schools in New Providence are not
alone in the trend as nearly 2,000 viewers saw a fight on
Galilee Academy’s campus which claimed the match
was won by grade 12 and a group of males battling in a
St George’s school classroom of chaos. Meanwhile,
Eight Mile Rock School had an astonishing six fight
postings in one month with a combined total of viewers
reaching a combined 69,855 viewers.

Bishop Ian K Braithwaite of Holy Dove Ministries
and Raw Gospel, Coconut Grove, said the main reason

Thousands watch fight

The Bahamas is in a state of decay is because Bahami-
ans are forgetting that it takes a village to raise a child.

“We complain about sex and crime in our kids but it
is human nature to imitate what we see,” he said.

“Babies learn to walk, talk and eat solid foods
because they see our actions. We are allowing our chil-
dren to have these cellular phones to record these
videos, allowing them to go on the internet unsuper-
vised to post them and allowing our children to show us
these images and then laughing along with the images
instead of being parents and finding the guardians of
those children to let them know that their children
have gone astray. —-

“Parents are allowing kids to smoke dope and hav-
ing sex with them in the room. So when these chil-
dren go out of the house, they don’t need to experiment
because they are used to the real thing. :

“This Bahamas is no longer a village that raises chil-
dren, especially when our children are the parents,” he
added. “We need to read and follow the Bible and
bring our children back.”

Protection FROM pase one

FROM page one

ing increasingly accessible :

pornography can be.

The budding campaign will :
focus on the need for parents :
to communicate with their chil- :
dren and monitor their use of :
computers and mobile phones. ;

Miss Butler-Turner said: :
“Unfortunately there are those :
children who will be influenced :
by what they see, and'we must :
start protecting our families :
from the large amount of :
pornography that is surfacing :
throughout the world, through ;

our computers.

“There are frightening things

- out there and children are at :

risk, so parents have got to be ;
more proactive and take more :
responsibility for what their :

children are involved in.”

The FNM minister is also }
pushing for an adequate sex ;
education programme in :

schools
Bahamas.

throughout

The

She said: “We as a society }
have to realise that it is not a :
taboo subject but a subject that :
has to be embraced and taught :
along with Christian morals, so :
children know the truth about :
sex and understand the conse- }
quences so they do not engage :
in this reckless sexual behav- :

iour.”

“(Those inside the meeting are)
just trying to tell Mr Mackey (the
principal) that they’re really at a
disadvantage,” one 12th grader
said, “People really don’t want to
write the exam so it doesn’t look
bad.on their resume or their tran-
scripts. They’re really concerned.
Our student council president tried
to get meetings with administra-
tion but they just kept giving us
the run around.” ,

Principal Charles Mackey
declined to comment yesterday
outside the campus meeting, refer-
ring The Tribune to the Anglican
Central Education Authority
instead.

Director at the ACEA, Mrs
Saunders, was adamant that the
student’s statements did not accu-
rately reflect the truth of the mat-
ter. ‘

“A teacher did leave suddenly
and we have been looking for a
replacement. But in the meantime
we had a teacher who was working
with those students. What has
been happening is that students

have not always been turning up

when they should have.” —

She also said she found it “very
hard to believe” that the students
might have only started the two-
year course in their final year, as
all who The Tribune spoke with
had stated.

Mrs Saunders said that the
ACEA continues to “monitor” the
students because they “want every

Shooting victim dies in hospital

FROM page one

Police are still searching for the gunmen involved in the brazen |

daylight shooting on Wednesday evening at Adventurer’s Way, near

Watlins Lane.

Andy Wilfred Weekes, 32, of Adventurer’s Way, one of the
two men shot, died Wednesday evening shortly after being taken

to hospital.

Police do not know the moti

occurred around 7pm.

ve behind the shooting, which

According to reports, four men in a burgundy-coloured vehicle
opened fire on both men, who were later discovered at the rear of
a house with gunshot wounds to the head.

Asst Supt Loretta Mackey is appealing for information. Police
can be reached at 350-3107/8 or 911.

ccececcecsscsccscceccesncccceececscceccesceceecnesesenccessceecceseesaransassasenscsssesaceneneccecaseaennanesaeaessessuanasvansusesasacenacacseenarascasaasearassucsaccanesnoauerscacnsecseaes ese ese ese ees



St John’s

student to have the opportunity.
to do well in their course of stud-
ies.”

An irate parent of one of the
seniors yesterday said that this was
“not her understanding” of the
matter. :

Her words were echoed in those
of another student on campus who
said that he felt that students
“should’ve been compensated” for
the alleged staffing deficiencies.

“We probably only covered one
or two topics and now they’re
making us take the exam and we
aren’t qualified to do it,” said
another.

A message left for permanent
secretary in the ministry of educa-
tion, Elma Garraway, was not
returned up to press time yester-
day.

Three fires
FROM page one

He explained that the depart-
ment is trying to maximise the
use of its resources as best as
possible to be able to fight fires
on three different fronts.

“We don’t know the exact
causes for any of the fires, but
this is the bush fire season,” he
said. © ;

While the Carmichael Road
and Tropical Gardens fires have

. been brought under control, Mr

Evans said that firefighters are
having difficulty reaching the
fire burning in the inaccessible
area between Coral Harbour
Road and Adelaide Road,
which spans hundreds of acres
of undeveloped land.

“That is going to be a real
challenge,” he said.

Heavy smoke from both the
Coral Harbour and Tropical
Gardens fires threatens to
reduce visibility for aircraft
landing and taking off at the

‘airport if the situation is not

dealt with soon.

AP Photo

ZIMBABWE’S opposition Movement for Democratic Change, MDC, supporters are taken by police from out-
side the Harvest House, the headquarters of the MDC, in Harare, Zimbabwe, Friday April 25, 2008.

Police raid headquarters
of Zimbabwe’s opposition

@ HARARE, Zimbabwe

PREGNANT women, moth-
ers with babies strapped to their
backs, girls who had been threat-
ened with rape, men with broken
bones — these were among the
hundreds of people beaten and
shoved into police vans during a
police raid on Zimbabwe’s oppo-
sition headquarters Friday,
according to the Associated Press.

Security forces also ransacked
the offices of independent elec-
tion monitors, hauling away mate-
rial documenting President
Robert Mugabe’s apparent elec-
toral defeat. The strikes sent a
powerful message the country’s
longtime leader intends to hold
onto power despite a growing
global clamor for him to step
aside.

Morgan Tsvangirai’s Move-
ment for Democratic Change and
the independent Zimbabwe Elec-
toral Support Network both
maintain Tsvangirai won the
March 29 presidential vote, based
on their own surveys of tallies
posted at ballot stations. Official
results have yet to be released.

About 250 riot police wielding

batons arrested about 300 peo-
ple in the sweep on the opposi-
tion’s Harvest House offices in
the capital, Harare.

Scores of the detainees were
supporters who had sought refuge
in the downtown building after
being attacked by ruling party

" loyalists for daring to vote against

Mugabe.

Police “were armed to the
teeth,” said opposition party
spokesman Nelson Chamisa, who
fled the building to escape arrest.
“We asked about a warrant and
the answer was a baton stick.”

With their homes in villages
across the countryside burned,
many of those who took refuge in
the building arrived with only the
clothes on their backs. Some had
been living in the party head-
quarters for a week, awaiting
medical attention, food and cloth-
ing.

They were taken to the city’s
main police station and there
were fears they would be victims
of more violence.

“Their lives are under threat.
They are going to be subjected
to further torture,” Chamisa said.

In similar cases in the past,

according to opposition party sec-
retary-general Tendai Biti, those
rounded up have been spirited to
jails far from Harare, turning up
days or even weeks later.

“Some of them will never
resurface,” Biti told The Associ-
ated Press in neighboring South
Africa. ;

“They will die and be buried
very quietly.”

Police spokesman Wayne
Bvudzijena said those arrested
were suspected “in connection
with some crimes that were com-
mitted in the countryside.”

Hundreds of opposition sup-
porters have been abducted, tor-
tured and assaulted in recent
weeks in what independent reli-
gious and human rights groups
call a violent crackdown on dis-
sent. Tsvangirai’s party says at
least 10 of its supporters have
been killed.

On Friday, the opposition said
four more members had been
killed by Mugabe loyalists and
called on the U.N. to intervene
“to immediately stop the violence
against unarmed and defenseless
citizens, whose only crime is vot-
ing for change.”



PAGE 12, SATURDAY, APRIL 26, 2008 THE TRIBUNE





photos by Franklyn G Fe!

NASSAU EVENTS CAPTURED ON: CAMERA






The Kingdor National Parkinson Foundation | Mismorfuraniat en,

ms Beach on Saturday, April 19,
for the charity's eighth annual
: ala ball.
The event raised funds for
the charity which finances
research into Parkinson's Dis-

ease, a chronic and debilitating -
disease of the nervous system.

aQ

«

DILITH
NAIRN,
assistant
manager
of BEC’s
distribution
and -
construction
department,
with Betty
Bullard,
proprieter

) Of All
Seasons

| Florist in
Blue Hill

| Road.



gq JUNE Cleo Lees with Betty Farquharson, Attorney Obie Ferguson Jr and chairwoman of Kingdor National Parkinson Foundation, Mavis
Darling-Hill.



ms

@ DR Janet Davis-Dorset, of Child and Adolescent Health in
Collins Avenue, with her husband-Philip Dorsett, a senior mas-
ter at CC Sweeting Junior School.



@ FREEPORT businessman and accountant Patrick Davis with Barbara Cartwright, of National @ ROCHIELLE BEVANS, owner 4 FROMLEFT: U.S. Ambassador Ned L. Siegel; Mrs. Carmen

a Insurance, and Kara Culner-Wilson, an accounting student at Dalhouise University, whose father, a of The Edge in Marathon Capo and Mr. Gerardo Capo, Developer, Treasure Cove: Bimini
the late Stanley Wilson was one of the first Bahamian economists. Accountant Olga Culmer, the Mall, with his wife Sian, Bay Resort. ,
first female accountant in The Bahamas, accompanies her daughter. - human resource manager at

Commonwealth Brewery.

«<

FROM LEFT:
U.S.
Ambassador
= Ned L.

=) Siegel; Mrs.
Stephanie
Siegel, and
Mr. James

+ Smith,
Chairman of
CFAL, and
former
Minister of
State for
Finance.



g CLEOMI Saunders with her

daughter Sherelle, reverend at BEAUTY consultant Brenda Knowles with Owen Bethel of The
Faith Mission Church of God Montaque Group (left) and former UN ambassador Dr Davidson
Ministry in Fox Hill. Hepburn (right).







© For further information on High Society Pictures please contact

PD





Full Text


MoFLURRY f |
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Uli HP wi Al OY



Pm lovin’ it. |





| ome SUNNY TO
[Some PARTY C.UDY

Volume: 104 No.130

72F

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€USA TODA







BAHAMAS EDITION .

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PRICE — 75¢



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Rasa ie ie



Protection irom

orn campaign

Government plans to
shield children from
exposure to sex films

@ By MEGAN REYNOLDS
Tribune Staff Reporter

A CAMPAIGN to protect chil-
dren from exposure to pornogra-
phy is being planned by the Gov-
ernment after videos of school-
children having sex were reported
in The Tribune. :

Loretta Butler-Turner, Minis-
ter of State and Social Develop-
ment in the Ministry of Health,
said such videos are becoming
frighteningly widespread among
schoolchildren throughout The
Bahamas.

She said: “All of our children
have access to mobile phones and

computers, they are very com- ~

puter savvy, and therefore they
are.all potentially at risk of expo-
sure.

“We believe there is a direct
correlation between children
watching the films and making
them, and they are simply acting
out what they see.” |

To combat this damaging
behaviour, Miss Butler-Turner
intends to continue the kind of
sex education she and the Nation-
al Child Protection Council have
propagated throughout Child
Protection Month this month and
raise awareness of how damag-

SEE page 11

Shooting victim
dies in hospital

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

FREEPORT - The second man critically wounded during a
shooting this week in Freeport lost his battle for life in hospital on

Thursday evening.

Terrel Mingo, alias Jamaal Stubbs, 30, of Nassau, died of his
injuries around 7pm in the Intensive Care Unit at Rand Memori-
al Hospital. His death pushes the homicide count for 2008 to four

on Grand Bahama.

SEE page 11

Official denies St John’s College
students’ claims over exam

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

THE Director of Education at
the Anglican Central Education
Authority has denied that students
at St John’s College are set to be
made to take a BGCSE exam in a
subject for which they had no
teacher for most of the course.

Valencia Saunders admitted that,
although the teacher originally
assigned to teach the grade 12 stu-
dents the commerce class did leave
the school “suddenly” in January,
there has been a substitute teacher
regularly covering the lessons.

This comes after a concerned par-
ent yesterday told The Tribune that
students at St John’s were set to
protest at noon over the fact that
they expect to be made to sit the
exam in May.

They claim that they have had as
few as two or three classes in the
subject since their original teacher

left almost four months ago and
they are totally unprepared through
no fault of their own.

Several from the class of “30
plus” also alleged that although it is
a two-year course, the school only
started attempting to teach them
the subject last September - mean-
ing that they only studied the sub-
ject for around four months before
their regular teacher left.

When The Tribune visited the
campus yesterday, no protest was
underway, but senior students were
engaged in a mass meeting with the
school’s principal in the auditori-
um.

Speaking on condition of
anonymity, some students said out-
side the meeting that they are wor-
ried about how their impending fail-
ure of the exam, in light of the
shortage, will impact their future
prospects.

SEE page 11



@| Gardens and Adelaide areas.

Bena anaes




aniae Ferguson

ees

A FIREFIGHTER at the scene of the Carmichael Road ie.

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










THREE major fires in New Providence yesterday. threat-
ened hundreds of homes in the Carmichael Road, Tropical





At press time last night, firefighters had brought the fires
burning close to Carmichael Road and Tropical Gardens
community, off West Bay Street, under control.

However, a blaze deep in the bush near the Water and
Sewerage Corporation wells, which is advancing parallel to
Coral Harbour Road towards Adelaide, was still burning at
full force.

As crews of firefighters battled the two fires close to Lyn-
den Pindling International Airport in the south-west and the
north-west of the island yesterday morning, a third blaze
broke out close to Miller’s Heights sub-division, near the
Bargain City Shopping Plaza on-Carmichael Road.

Press liaison officer Asst Supt?Walter Evans told The
Tribune that earlier yesterday the fire threatened “numer-
ous homes and a (Baptist) church” in the area close to the
shopping centre.

Three crews of firefighters were on the scene to prevent
the fire from spreading to homes in Miller’s Heights.

The fire seems to have its point of origin in a vacant lot full
of derelict cars.

Last night, Mr Evans said the fire had been brought under
control and was now in the “smouldering phase.”

However, residents still had to put up with significant
smoke development.

Also in the “smouldering phase” was the fire north of
the airport, which earlier yesterday had threatened to spread
to the Tropical Gardens community off West Bay Street.

Mr Evans said that fire services personnel have been
working non-stop since 4am on Thursday to contain the
fires.

SEE page 11































Thousands
watch COB
ECU
YouTube

By ARTHIA NIXON



YOUNG Bahamians are mak-
ing their mark on the international
arena in a way that could hit the
tourism industry, with students
from The College of The Bahamas
leading the way.

As of 4pm yesterday, the popular
YouTube internet video website
had recorded about 66,901 views
and received four out of five stars
for a brawl on the college’s Oakes

Field: campus involving two young

men.
The video included a rap sound-
track and laughing by onlookers as
those involved in the fight dragged
each other through wet grass and
eventually threw objects.
Most surprising was that from

three different computers, when .



CLARENCE GREY (left) and Nehru Newton outside of court yesterday



the word “Bahamas” was typed
into YouTube’s search engine and
sorted by relevance, the fight was
second on a list of 11,200 videos
relating to the Bahamas with videos
on Atlantis, Paradise Island and
Junkanoo below it.

However, COB is not the only
tertiary level institution in the coun-
try making the rounds on
YouTube. A University of the West
Indies Bahamas party, with 19,179
hits, showcased students at a dorm

~party- dancing suggestively and “dry

humping”.

A total of 23,467 viewers
watched a child estimated to be
eight years old staring at two pre-
teens dancing provocatively and
simulating lesbian acts as a pre-

SEE page 11

Tim Clarke/Tribune staff

Pair charged with assaulting
and threatening son of ‘Ninety’

THE nephew of drug convict
Samuel “Ninety” Knowles was
arraigned in Magistrate’s Court
yesterday along with another
man on weapons and assault
charges.

Nehru Newton, 33, of
Clarence Hill Avenue, along
with Clarence Gray, 36, of Tre-
galon Gardens, have been
charged with assaulting and
threatening Knowles’ son
Theodore Knowles.

Court dockets allege the two
men on Tuesday, April 22, were
found in possession of a silver
and black Lorcin pistol, five
.380 rounds, a black Ruger 9mm
pistol and eight 9mm rounds.

It is also alleged that the two
men assaulted Theodore
Knowles and made death
threats against him.

Both men pleaded not guilty.
They elected to have the assault
and threats of death cases heard

in Magistrate’s Court. Both
were remanded to Her
Majesty’s Prison. A bail hearing
has been set for next Friday.
The men are being represented
by attorneys Dion Smith and
Alex Morley.

e A 28-year-old man of Hos-
pital Lane accused of being
found in possession of 29 live
rounds of ammunition was
arraigned in Magistrate’s Court
on Thursday.

According to court ——
Elexis Taylor, on Tuesday,
April 22, was found in posses-
sion of 29 live rounds of .357
ammunition. Taylor, who was
arraigned before Magistrate
Carolita Bethel at Court Eight,
Bank Lane, on Thursday,
pleaded not guilty to the charge
and was granted $10,000 bail.
The case was adjourned to
November 24.


PAGE 2, SATURDAY, APRIL 26, 2008

a THE TRIBUNE

ee a ee ee
Bradley Roberts speaks out
on Leon Williams departure

© In brief

Bus drivers set out to
provide better service

A GROUP of bus drivers say they are hoping to make
improvements across the entire public transportation system.

They aim to create more routes, but pointed out that better
service will make a price increase inevitable.

“We feel that it is important that Bahamians stop saying 'the
government, the government, the government’. The govern-
ment has a role, but they do not speak for our businesses. We
as business owners must take responsibilities for ourselves;
we need to speak to our customers, service our customers,
and when there are concerns, update them,” said Pubic Trans-
port Association president Reuben Rahming.

He was speaking to Romald Ferreira of the TV show
Bahamas@Sunrise.

According to Mr Rahming, some improvements have already
been made to the bus system and others are in the pipeline.

“My hope is that the fare increase will also come with value
added,” he said.

He says his group aims to implement:

° a system linking all buses

° aroute management system -

° the use of GPS technology

° a transit safety system for children

an electronic fare paying system

Mr Rahming said bus operators want to be as ale to their val-

ued customers as possible.

Palmdale & Carmichael
Prat

341-0498

FORMER Minister of Works
Bradley Roberts yesterday
likened the departure of Leon
Williams from the Bahamas

Telecommunications Company

to the dismissal of a former gen-
eral manager who successfully
sued the government under the
first FNM administration.
Referring to Batelco’s former
manager Barrett Russell — who
worked at the company for 26
years before his transfer to the
Office of the Deputy Pri
Minister as a consultant in 1994
—Mr Roberts said: “When I first
heard rumors of Mr William’s
departure, my first reaction was
déja vu, recalling how a former
general manager of Bahamas
Telecommunications Corpora-
tion under the FNM adminis-
tration was dismissed and the
subsequent legal action which

The Burns House Group

April 26th, 2008
Poop Deck Sandyport
aoe Slonii |

mee am sere MPIC ora OTL L GA
e many more top artists.

featured artists

Gs ee Wine club men

eClub members |

presents °,

resulted in high six figures being

awarded by the courts to that -

_ general manager.”

Mr Williams was last week. -
asked to resign as BTC’s CEO ©

and president.

Assessment

BTC’s executive chairman
Julian Francis in a statement to
the media said that following an
assessment of the company’s
critical needs, the board of direc-
tors made the determination
that BTC “needs new leader-
ship in order to address its

- sional capacity whose knowl-

numerous weaknesses:and ,

shortcomings.”

Mr Roberts, who had respon- *

sibility of BTC during most of
the Christie administration,

ed workaholic, a professional
extraordinaire, a teacher with a
passion to. put and keep BTC
on the cutting edge of technolo-

by:

__ “There are few persons in my
lifetime that I have had the plea-
sure to work with in a profes-

edge of his chosen field is as
extensive as Mr Williams,” Mr .
Roberts.

‘Mr Williams had been per-
ceived by some as being close
to the former works minister — a
fact which some observers spec-
ulate, did not endear him to the
new FNM government.

Sources at BTC told The Tri-
bune last-week that the decision
to ask Mr Williams to resign
does not imply anything improp-
er or illegal,on the former
CEO’s part.



described Mr Williams as a “gift-

â„¢@ By TANEKATHOMPSON ~~.
Tribune Staff Reporter °
whyyouvex@tribunemedia.net

“I VEX that the former minister of state

for financeé has publicly suggested that gov- .

ernment should consider writing off $410
million in unpaid taxes and in the meantime
senior citizens have difficulty getting their
pension cheques from NIB.

“If the country is so rich to be able to write
off that huge amount of money maybe they
should consider collecting it and giving it to
poor senior citizens.”

— Concerned citizen, Nassau.

"I'm vex at people who think just because .

a company makes clothes in their size that
gives them the right to wear it. Yes, it's your
body but does that give you the right to vio-.
late my rights by having to look at your bad-
ly bulging body stretching out clothes that
should go in the garbage.:

Ma mean it's just a disgrace, some people
Just ain’ suppose to wear.certain t things
man. '

— Fierce Fashionista, Nassau.

"I kinda vex that Mother’ Ss Day i is right
around the corner but my payday don't
come until couple weeks after that. I feel so
pressured and I know I ga' feel worse when
all dem basket stands pop up on the side of

the road, just to rentihd me how brokeIam BING.



RE PONSIBILITIES

e Supervise all staff,

_ and can '‘tafford to buy my ol' lady any-

‘ thing.”
— Living pay cheque to pay cheque,
Carmichael Road.

"T happy because The Tribune said (April
25th, 1B) we in the east finally gettin' a bank.
T'ank God! Now my coupl'a dollars could
be close to me and I don' have to sit in traffic
to go visit it. T'ank yer very much Common-
wealth Bank!"

— Future Customer

--.."I vex over dem CID officers who think
they own the road on Thompson Blvd. They
come barreling up the middle of the road in
these big, black Explorers like someone dyin'
and you see that they just turning into their -
parking lot.

I mean they don't even give people a
chance to move out their way, at least the
ambulance is puton brakes, but dem CID
would push ya' car out the road if they
could.

And I tired of hearing the police sirens
escorting the government armoured car. I
swear they almost give me a heart attack

‘today with all their wailing. Once again I
don't understand why we have all these.
sirens going off all the time making all dis
noise pollution — it really don't make any
sense. "
ss = Praying for peace and quiet on Thompson

POSITION AVAILABLE

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roviding general staif management and allocating staff

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EDUCATION REQUIREMENTS
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Please forward cover letter and résumé via mail, fax or email to:-

Hunmian Resource Department
Global United Limited
P.O. Box CB-13838

° ° Nassau, Bahamas
Re: Chief Operating Officer

Fax: 242-377-1261


THE TRIBUNE

SATURDAY, APRIL 26, 2008, PAGE 3





0 In brief

Man accused
of election
court fraud
fails to appear

FOR the second time, a
man accused of commit-
ting election fraud failed to
appear in court.

The trial of Wilfred
Swain, 50, which has
already been put off sever-
al times before, is being
heard before Magistrate
Susan Sylvester at Court
11 on Nassau Street.

Swain was a no show
again on Thursday. Last
October Swain failed to
appear in court for the
continuation of the hear-
ing. On that occasion
lawyer Ian Cargill, who
along with Fayne Thomp-
son is representing Swain,
said that he had learnt that
Swain was supposedly ill
and in hospital.

Swain, of McCullough
Corner, has been accused
of committing election
fraud during the May 2,
2007 general election.

He has pleaded not
guilty to fraudulently tak-
ing ballot paper #146672
out of polling division
number 12 in the Farm
Road and Centerville Con-
stituency, having possessed
a counterfeit ballot paper
known not to be genuine
and uttering a counterfeit
document. .

Parliamentary Commis-
sioner Errol Bethel and
presiding officer for the
polling division in ques-
tion, Cynthia Wilson, have
already testified at the tri-
al.

On Thursday, Magis-
trate Sylvester noted that
she will have Swain taken
into custody until the com-
pletion of the trial if he
fails to appear in court
again.

The case has been
adjourned to next Tuesday
at 10am. Calvin Seymour
of the Attorney General’s
Office is prosecuting the
case, with the assistance of
Shavon Bethel.

Vice President
Dick Cheney



visits Panhandle

mi FORT WALTON
BEACH, Fla.

VICE PRESIDENT
Dick Cheney is visiting the
Panhandle to raise money
for U.S. Rep. Jeff Miller,
according to Associated
Press.

Cheney will be in Fort
Walton Beach Friday. He
will be speaking at the
Northwest Florida Fair-
grounds to also raise cam-
paign funds for the Nation-
al Republican National
Committee.

Attendees paid $100
each, or $2,000 for two
people and a photo oppor-
tunity with the vice presi-
dent.

Miller, a Republican
from Chumuckla, is seek-
ing a fourth term in office.
His district covers Escam-
bia, Santa Rosa and
Okaloosa counties.

Miller is up against
Democratic contenders
James E. Bryan and
Robert Crockett Peterman
II, and Independent Joe
Roberts.

3PORTS SECTION

SOONG oooh ceceetessecete e120, 0140
COMICS srnninennnnennnnnnnnncePB
Se

ASSIFIED SECTION 36 PAGES

SA TODAY WEEKEND EDITION 8 PAGES



.should be commercially har-





Anger at acquittal




_ LOCAL NEWS

in toddler tragedy |

BAHAMIANS reacted with anger and dis-
may yesterday following the acquittal of three
defendants in the Paradise Island toddler
tragedy.

They criticised the Attorney General’s Office
and said the verdict would again expose the
Bahamas to international shame. ,

Justice campaigners Greg and Tanya Cash
expressed “great disappointment” after hear-
ing that Judge Elliot Lockhart had directed the
nine-member jury to acquit rE legal delib-
erations.

Mr Cash said: “This once again shows
that our system is at fault. What is happening

in our country? How can we dismiss such a

case?”

Discussions

The judge’s decision to direct an acquittal
came after legal discussions in the jury’s absence.

Charges of manslaughter against three defen-
dants were thrown out, leaving a friend of the
toddler’s family to yell out in protest that justice
had not been served.

Paul Gallagher Jnr, a two-year-old toddler,
was asleep in his pushchair on Cabbage Beach in
2002 when an out-of-control motorboat charged

Sea turtles
Beit
endangered
TM LETS

SEA turtles are rapidly
becoming an endangered
species in the Bahamas, animal
experts reveal.

They say tough new laws are
the only way to slow the rapid-
ly accelerating disappearance
of these creatures.

Kevin Dagenhard, executive
director of the Bahamas
Humane Society and Eric
Carey, executive director of the
Bahamas National Trust, sat
with Romauld Ferreira on
Bahamas@Sunrise this week to
discuss the disturbing trend.

Presently, fishermen are
allowed to catch most species.
sea turtles within three to four
days of the season opening and
closing. But this has led to over-
fishing, the experts say — and
now there are significantly few-
er turtles in Bahamian waters.

Mr Dagenhard and Mr Carey
agreed that there should be a
moratorium on catching the tur-
tles.

The pointed out that the ani-
mals are extremely sensitive to
sunlight and are often cruelly
treated by the fishermen, who
catch them and leave them
exposed to the sun’s rays.

Mr Carey recalled an incident
in which a fisherman tortured
a turtle in this way so as to
induce a horrified bystander to
buy it from him at a handsome
a profit.

The experts said that many
videos of Bahamian fishermen
being cruel to turtles are now
available on the internet — for
all the world to see.

Both men said they are
deeply concerned. about the
trend.

Mr Carey said: “Turtle pro-
tection is a no-brainer. We’re
long past the days when we
















vesting Green Turtles”.

Mr Dagenhard,said he is
hopeful that the new legislation
that is being proposed to protect
the sea creatures will pass, and
that marine experts will work
to explain to fishermen how
important it is to protect the |
turtles.

TROPICAL
EXTERMINATORS

PEST CONTROL
PHONE: 322-2157

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on to the sand, causing horrific injuries which led
to his death.

For six years, his parents fought for a hearing
before the Bahamas courts, claiming that some-
one must be held responsible for the tragedy.

Mr Cash said: “This Gallagher case has really
upset our spirits. My wife and I are very upset.”

Children’s rights campaigner Clever Dun-
combe criticised the Attorney General’s Office
for not presenting a stronger case.

He said the outcome had “international impli-
cations” because it once again showed the world
how inefficient and dysfunctional the country’s
legal system is.

“This is a sad day for the Gallaghers. My heart
really goes out to them,” he said.

Other Bahamians called The Tribune to
protest.

One reader said: “This is wrong. This family
has not been given justice. It is a disgrace.”

During the hearing, the jury was told that the
boat driver was trying to “right” his banana float
when the tragedy happened.

He was at the back of the boat when his feet
became entangled in rope. As a result, the boat
veered out of control, striking the beach.

Paul Jnr was sleeping in his pushchair when
the boat struck. He suffered severe head injuries
and doctors were unable to save him.

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oe LOS Retin

DECEPTION new | 1:00 | 3:35 | N/A | 6:00 | 8:20 [10:40 |

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FORGETTING SARAH MARSHALL

MEET THE BROWN

STREET KINGS

PROM NIGHT

THE RUINS

NIN’S ISLAND

SHUTTER

ees em? DRIVE

ARD TO 8 649 O A

88 MINUTES F405 | 3:05 | NIA | 6:00 | ois | [ 10:30
FORBIDDEN KINGDOM t aC 10:45
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PROM NIGHT fats | 345 | WA | 6:25 | o:30 | 10:25 ||
ete de ee oe

TEL: 380-FLIX.



TENDER FOR THE PROVISION OF

FUEL SYSTEM REPAIRS
POWER STATION SITE

HATCHET BAY













The Baha as ElsctHetty Corporati -
invites Tenders from eligible bidders for —
the provision of Fuel Tank Repairs at the
Corporation’s Hatchet Bay, _
Eleuthera Power Station Site.











Bidders are required to collect Sarkanes
from the Corporation's Administration

Offi ice, Blue Hill & Tucker Roads by con-

~ tacting Mrs. Delmeta Seymour,

Telephone No. 302- 1158.















Tenders are to. be delivered on or bet
28rd May 2008, 3:00 oe m.
and. addressed as follo

Tee AP Cree ae OW















- Bahamas Electricity Corporation
Blue Hill & Tucker Roads
Nassau, Bahamas




Marked: Tender No. 663/08
Fuel System Repairs
Power Station Site _
Hatchet Bay
- Eleuthera, Bahamas











The Corsoration reserves s the right to
accept or reject the whole or such part
of ay Tender the eorenenon













OMT rel otal aw



Life. Money. Balance both:
PAGE 4, SATURDAY, APRIL 26, 2008

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE





The Tribune Limited

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

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

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

(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

Shirley Street, P.O. Box N-3207, Nassau, Bahamas
Insurance Management Building., P.O. F-485, Freeport, Grand Bahama

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

A food disaster is brewing

NEW YORK — The ability of rela-
tively fewer farmers and acres of farm-
land to feed ever-greater multitudes has
been one of the wonders of the mod-
ern era, a development that has held
out the promise of not only alleviating
but actually banishing hunger. Such a
thing seems possible, but the world
serves up constant reminders that
hunger persists, despite — and some-
times because of — the march of
progress.

New reminders can be found in the
news now, and their implications are
frightening. According to the United
Nations’ Food and Agriculture Organi-
zation, 100 million people in 36 coun-
tries are currently at risk due to the
soaring prices of commodity staples
such as rice. Their desperation is
already evident in places such as Haiti
and Egypt, which have seen riots in
response to food shortages.

When and where there is hunger,
there are usually a variety of culprits. In
the current case, drought in Australia, a
major source of grain for much of Asia
and elsewhere, has combined with sky-
rocketing fuel prices as proximate caus-
es. The effects of these causes have been
magnified by the fierce competition for
scarce resources brought on by the eco-
nomic mega-booms in nations such as
China and India. And they have, in turn,
exposed glaring flaws in the global food
infrastructure.

Many of these flaws turn on issues of
politics and economics, rather than nat-
ural occurrences such as crop failure.
The global economy means that reduced
crop yields in a major supplier such as
Australia lead to rampant speculation
on world commodities markets, driving
up prices. The global economy has also
led many developed countries to turn to
protectionist policies for their domestic
farmers, while international lending
policies for developing nations discour-
age native agriculture and encourage -
imports. So when a big food exporter
can’t deliver, there can be precious lit-
tle food supply left at home to pick up

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the slack.

The politics of farm subsidies also
influence decisions on land use. The
increase in ethanol production here and
abroad has at least as much to do with
placating farmers and agribusiness as it
does with environmental and energy
independence concerns. When more
acreage is devoted to corn for ethanol,
less is available for food production.
Similarly, an increase in meat con-
sumption worldwide has meant more
grain is grown for cattle and less for
humans. Cows are natural grass eaters,
not corn eaters; they are fed corn in
part to get rid of what was a surplus
born of subsidy.

Citing the huge numbers of people.

endangered worldwide, the U.N. has
called this crisis a “silent tsunami.” Here
in the United States, food is less often a
matter of life or death, but it is putting
an additional and dangerous strain on
families who are already struggling to
get by in a faltering economy. Wages
have remained stagnant, unemployment
is up, and food prices are going through
the roof — you do the math. Already
there are reports of charitable food
pantries unable to meet the needs of
those they serve.

A disaster is brewing worldwide, and

here at home the faltering economy is
taking on a nasty edge. First, the fore-
closure wave threatens shelter; now,
out-of-control prices threaten food. And
yet we are hearing virtually nothing
about this from a presidential race that
is increasingly lost in a thicket of trivi-
alities.

For this, we can blame the candidates,
but we also can blame our media. This
week, your reporter heard a cable-news
anchor ask a correspondent if rising
food prices meant that people are “eat-
ing out in cheaper restaurants.” I don’t

_ know what planet this man is living on,

but here on Earth, people are going

hungry.

This article appears courtesy
of Hearst Newspapers



NOTICE is

hereby given
of BALFOUR AVE #3, 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 19th day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

FOR SALE

Disgust with
the media

EDITOR, The Tribune.

YOU know that newspaper
readers and electronic media
listeners are totally fed up and
disgusted with the mass media

when the most read and lis-~

tened to sections are the obit-
uaries.

The media generally in the
Bahamas is so biased in its
reporting that one can hardly
distinguish between what is
actual truth from what is man-
ufactured..Truth is truth and
it should never matter where
the chips fall, so long as the
unadulterated truth is reported
in all its gory details.

A free press, in a democracy,
is commonly known as the
“Third Force” ranking it very
high up among the important
institutions in a society, which
helps make democracy work,
effectively. The press is sup-
posed to mirror the communi-
ties it serves and should always
convey the reflection of who
people are; what they are all
about and how well they man-
age the freedoms given them
under their various constitu-
tions. The press should give a
true picture of what actually
goes on and not give, screened
and selective, items that a par-
ticular editor, with their own
agenda, wishes you to know on
any given day of the week. The
“Pen” is said to be mightier
than the sword, and when put
in perspective, no one can
deny that assumption.

It is my view, that most
Bahamian politicians would
not be able to survive the spot-
light of the American system
of media scrutiny. In that sys-
tem, if you put yourself for-
ward as a candidate for elec-
tive office, be prepared for a
total airing of your whole life
from childhood to your pre-
sent state.

Things which you have for-
gotten; your bedroom business;
childhood friends; your par-
ents, are all fair game for

America’s probing press and |

there is no other consideration,
other than the public’s right to
know. They are obsessed with
and relentless in, reporting the
true facts, notwithstanding
who is helped or hurt by them.
It was interesting to note that
in the present democratic race
between Senator Clinton and
Senator Obama, the media, for
almost a week, had the good
senator answering questions
about a relationship he had
with a man who he served with
on a corporate board; the man
was somewhat of a rebel when
Senator Obama was a little
boy of eight years, but the
press is demanding that the
good Senator answer to this
relationship, as they contend
that this association speaks
volumes about the Senator’s
character.

NOTICE

that JULIA DOLCE



RD

2006 Mercedes Benz ctss00-soo0cc
Fully Loaded - Limited Edition
Just Like New!

Contact: 702-2015

DasMess

lotters@tnbunemedia.net






The press, in the Bahamas, is
anything but free. Essentially
owned by a single publishing
magnate, its editorial position
has materialised down the side
of one political viewpoint, to
the exclusion of all others. The
editor/publisher’s objectives
seem to come down to:

(1) publish anything and
everything that would promote
their own political views and

(2) publish anything and
everything that would demote
all other opposing political
views, without exception. The
Bahamian media is no more
effective, in the Bahamas, in
terms of the role it should play
in our democracy, than those
in communist China, Cuba
and/or Iran.

More than four decades ago,

before the advent of majority |

rule, the leading Bahamian
publication’s editorial board
of one, took the decision to
fight, at all cost the efforts of
the Progressive Liberal Party
(PLP) to promote the libera-
tion of the majority popula-
tion; its educational, economic
and social interests and its pur-
suit of its independence from
Great Britain in 1973.

The Tribune also promoted
and stood alongside those in
the Abacos, who wanted to
secede from the Bahamas and
remain a part of Great Britain
when the Bahamas would have
become an independent
nation.

Their venomous dislike for
the PLP and its successive gov-
ernment’s policies and objec-

tives should not be unexpected -

as it has become, after all these
years, endemic and a part of

.what motivates their contin-

ued existence.

The Tribune has built up a
fortune over these many years
of enjoying an almost monop-
olistic market share and has
used their unneeded resources
to fight successive PLP gov-
ernments in their quest to rid
the majority population of all
the remaining vestiges of slav-
ery and the slavery mentality.
The Progressive Liberal Party
has never had the good for-
tune of “fair comment” from
the media, period, and even
when they are obliged to print
a positive story, they would,
conveniently, arrange the Edi-
torial page, for that day, to
explain how that positive story
would be a negative, after all.

Recently, The Tribune was
allowed to purchase the hold-
ings of both The Nassau
Guardian and The Freeport
News. This, in effect, killed any
chances of the Bahamas ever

having a fair, unbiased and.

free press. The consequences
are the same as what happens
in China or Cuba; you will
know what the State wants you
to know; nothing more and

nothing less. In our case, we
get to read what the FNM
(whether they are the govern-
ment or not) wants us to read,
because the owners/publish-
er/editor have all committed
to promoting the FNM and all
its left wing, market forces
policies, while at the same
time, committing themselves
to the total silencing and even-
tual destruction of the PLP.
That is their mission and they
have dedicated: all their
resources to complete that mis-
sion. Can we stop them? Yes
we can. Those are my views.

FORRESTER

J CARROLL JP
Freeport,

Grand Bahama -
April 23, 2008.

(As usual Mr Carroll is way
out in left field. He is not telling
the truth when he says that The
Tribune has bought The Nas-
sau Guardian and The Freeport
News, resulting in those two
publications losing their edito-
rial independence. The Tribune
has not spent one red cent in
the purchase of either publica-
tion. The truth is that The Tri-
bune and The Guardian have
entered into a joint operating
agreement on the business side
of the publications — eventu-
ally one press, one accounts
department, one sales and
delivery section, etc. Neither
newspaper dictates — or even
consults — on the editorial pol-
icy of the oth¢r. Nor do they
consult on how the daily news
should be covered or presented.
In a time of rising costs this
decision to cooperate probably
makes too much business sense
for Mr Carroll to grasp with-
out seeing in it a sinister plan
that includes the destruction of
the PLP.

(Mr Carroll complains that
The Tribune was allowed to
purchase the holdings of The
Guardian and The Freeport
News. ‘The only way that this *
business agreement.could have.
been stopped would have been ©
if these organisations were in
fact located in communist Chi-
na, Cuba, or Iran. As we are
located in the Bahamas, which
is still a democratic country,
regardless of Mr Carroll’s -
belief, this business arrange-
ment will assist the growth of
an independent press.

(Also regardless of what Mr
Carroll says the PLP, and even
its propaganda machine, gets a
fair break in the press. Howev-
er, Mr Carroll is upset that The
Tribune refuses to let the PLP
get away with its propaganda.
This is put into context with
both sides of the story being
told. The issue is then left to
our readers to decide for them-
selves where the truth really
lies.

(Incidentally, we should
point out to Mr Carroll that the
press is known as “the Fourth
Estate” not the “Third Force.”
- Ed).

NOTICE

NOTICE.is hereby given that LOIS C. STODDART of 5TH
STREET, THE GROVE, P.O. BOX CB-12402, NASSAU,
BAHAMAS is applying to the Minister responsible for

Nationality and

itizenship, 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
26th day of April 2008 to the Minister responsible for
Nationality and Citizenship, P.O.Box N- 7147, Nassau,

Bahamas.

NOTICE

NOTICE is hereby

iven

that DAVID EDWARD

JENNETTE of 57 SEA VIEW LANE, P.O. BOX F-60287,
FREEPORT, GRAND BAHAMA, BAHAMAS is applying
to the Minister responsible for Nationality and Citizenship,
for registration/naturalization as a citizen of The
Bahamas, and that any person who knows any reason
why registration/ naturalization should not be granted,
should send a written and signed statement of the facts
within twenty-eight days from the 26th day of April 2008
to the Minister responsible for Nationality and Citizenship,
P.O.Box N- 7147, Nassau, Bahamas.

Established Bahamian Company in Construction,
Service and Retail
Is looking to hire an energetic and ambitious Bahamian person as

MANAGER

Salary plus incentive scheme. Also possible share
purchase option. Reply in writing with resume

“MANAGER”, P.O. Box CB-11541


THE TRIBUNE

SATURDAY, APRIL 26, 2008, PAGE 5



Laing: minimum wage

rise not being considered



In brief

Cuban phone
company contracts
7,400 new cellular

accounts in 10 days
M@ HAVANA

CUBA’S telephone monop-
oly says 7,400 new cell phone
accounts have been contract-
ed in the 10 days since all
Cubans were allowed to sign
up for service, according to
Associated Press.

Previously, cellular phones
were offered only to foreign-
ers or Cubans in top govern-
ment positions or jobs with for-
eigners. But many other
Cubans already had cell phones
through contracts foreigners
opened for them.

ETECSA phone company
official Maximo Lafuente
Vazquez says about 300,000
cellular lines already existed
on the island before April 14,
when President Raul Castro’s
new government lifted the
restriction on_ service.
Lafuente’s comments appeared
Thursday in the Communist
Youth newspaper.

A cell phone contract costs
about US$120 (euro76) to acti-
vate — half a year’s wages on
the average state salary.

Suriname govi wants to
revise gold mining contract
with Canadian company

§ PARAMARIBO, Suriname:

SURINAME wants to rene- :
gotiate its contract with a Cana- :

_ dian mining company because }
of soaring gold prices, accord- :

ing to Associated Press.

Natural Resources Minister :
Gregory Rusland said Wednes-
day that prices have risen ;
beyond expectations since the :
government signed a contract
with Rosebel Gold Mines NV :

in 2005.

The South American country :
currently receives royalties ;
amounting to 2 percent of Rose- }
bel’s production as well as pay- :
ments for the use of a hydro- }
electric dam that vary accord-

ing to gold prices.

Rosebel spokesman Roy van
Aerde said the subsidiary of |:
Toronto-based IAMGold is ;

open to discussions.

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

Tropical Exterminators
322-2157



os py uerey axcacroras © 351-3274

Zhivargo Laing



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

THE.GOVERNMENT is not
considering increasing the coun-
try's minimum wage to provide
relief for Bahamians dealing
with a steadily rising cost of liv-
ing, Minister of State for
Finance Zhirvargo Laing said
yesterday.

The raising minimum wage
could become a catalyst for
inflation and force small busi-
ness owners to drastically cut
employment to lower their over-
head costs, he added. ,

“We are looking at some oth-
er things that can be done to
bring some relief, but (increas-
ing minimum wage) is not a con-

Grand Bahama sees slight
rise in unemployment

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

Bahama.

visited.

$40,804.

O



It was estima

FREEPORT - Grand Bahama’s unemployment rate rose
slightly to 8.8 per cent in 2007, according to the latest statistical
figures released yesterday by the Department of Statistics.

According to the Labour Force and Household Survey taken
in 2007, the island’s total labour force comprised of 28,850 per-
sons, 2,540 of which were unemployed.

In 2006, the unemployment rate was at 8.3 per cent, and the
total labour force was slightly smaller at 27,445.

This year, the Departmént of Statistics will conduct its annu-
al labour force survey from May 5 through May 23 on Grand

Clara Lowe, assistant director of the Department of Statistics,
Freeport, said more than 600 households on the island will be

Some 25 enumerators and five supervisors took the oath of
secrecy at an official swearing-in ceremony at the Local Gov-
ernment Training Centre in Freeport.

Mrs Lowe said the information they gather will help to deter-
mine the rate of unemployment, the average household income,
and the labour force size.and composition.

The 2007 statistics showed that individuals aged 35 to 44
accounted for the highest number of persons unemployed on
Grand Bahama at 28 per cent.

The total number of households on Grand Bahama was

15,975, and the total household income was $651,837,500.
ted that the average household income was

Men earned the higher average income of $45,597 over
women who earned an average income of $32,033.

STOREWIDE
APRIL 24-MAY3

FS
&

G.R. Sweeting's



sideration at the moment," said
Mr Laing. "The extent to which
you increase minimum wage
means the cost to (entrepre-
neurs) goes up, and they may
determine it's too expensive to
have as many employees and let
some employees go so that oper-
ating costs stay in line.

Economy

"That's why you can't just
consider increasing minimum
wage, there are implications to
that. In a bad, or slower econo-
my if they are not making more
money and government increas-
es their costs, they are going to
be forced to make some adjust-
ments and that can mean letting
people go, et cetera,” he said.

The government is weighing
other options to counteract the
local effects of the global crisis
of rising food and energy costs
said Mr Laing, who did not want
to preempt announcements the
FNM is expected to make on
the issue in an upcoming session
of the House.

However, he did say that one
of these will be reducing the
costs of foods such as fruits and
vegetables.

He also cautioned Bahamians

THE WESTIN

about taking on additional con-
sumer loans, adding that he does
not think banks should lower
interest rates to encourage con-
sumer spending in the current
economic climate.

"This is the reality: if you are
faced with a situation where you
don't have increased income
coming in, you are uncertain as
to what's going to happen with
your income in the future, the
best thing to do is to be prudent
with your spending," he said,
adding he and his family have
cut down on energy use and fuel
consumption.

However these words of eco-
nomic wisdom provide little
solace to Bahamians struggling
to make ends meet on a small
paycheck.

"Honestly, I feel minimum
wage needs to be increased
because the cost of living is too
expensive and making $150 a
week or $4 an hour, that just
can't cut it when the price of gas
going up. oo

“And then everyday price
control items like cream, sugar
and butter, all them increasing,"
25-year-old Nakeitha Wallace,
who works at a local gas
station, told The Tribune yes-
terday.

GRAND BAHAMA ISLAND
OUR LUCAYA

Resort

EXCELLENT CAREER OPPORTUNITY EXIST FOR

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

iS)

Although she doesn't have
any children and lives at home,
Nakeitha said she has had to cut
down on "going out and party-
ing" because necessities like
food and gas are eating away at
her paycheck.

Trade Union leaders recently
called for an increase in the $150
minimum wage for the private
sector following a US State
Department Human Rights
Report which said Bahamian
minimum wage "did not provide
a decent standard of living for a
worker and family".

The civil service minimum
wage is currently $212.

Study

A 2007 Inter-American
Development Bank study
revealed that the Bahamas’ min-
imum wage is 50 per cent higher
than Trinidad and Tobago's
when measured against per capi-
ta income.

' The same report also said the
Bahamas' minimum wage
was 15 per cent higher that the
US'.

The country's Minimum
Wage Act was introduced in
2001 by the first FNM adminis-
tration.

OUR LUCAYA

in computer programs, Excel and Microsoft word.

Asian Sous

This successful candidate will assist the executive
chef and oversee the day-to-day culinary
operations of the hotel’s “fine dinirig” room, train
and supervise staff and monitor food quality.

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.

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.

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

Chef

food quality.

RESORT

Director of Golf

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 18-holes golf courses.

_ A minimum of ten years golf experience in a managerial
capacity, exemplary customer and human resources skills,
proven experience in cost and revenue management,
forecasting and training.

Executive Sous Chef

Successful candidate will support and assist the executive
chef by overseeing the day-to-day culinary and banquet
operations and will train and supervise staff and monitor

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.

inspections.

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 modem buffet set up techniques.

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

Basic computational and budgetary analysis capabilities
required. Thorough working knowledge in Excel, Delphi
and Microsoft word. Extensive knowledge of sales and hotel
and competitive market. Bachelor’s degree preferred. At
least 3 years experience in hotel sales preferred.

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

Institution preferred.

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


PAGE 6, SATURDAY, APRIL 26, 2008

THE TRIBUNE



The Wight kind of music

f CENTRAL GOSPEL CHAPEL

CI ere & DOWDESWELL STREETS ® Tel: 325-2921



10-00 a.m: Breaking of ‘Bread Service
71:00 a.m. Memberstipy Meeting
6:30 p.m. Prayer Rally
Speaker: Paster Cranston ‘Kneules
~ Bible Class: 9:45 a.m. © Breaking of Bread Service: 10:45 a.m.
( * Community Outreach: 11:30 a.m. ¢ Evening Service: 7:00 p.m.

° Midweek Service 7:30 p.m. (Wednesdays)
Ji * Sisters’ Prayer Meeting: 10:00 a.m. {2nd Thursday of each month)

OPPORTUNITIES FOR
WORSHIP AND MINISTRY

SUNDAY SERVICES
Moming Worship Service ......
Sunday School for all ages...
Adult Education

Worship Service

Spanish S@NVICE os osccieenee
Evening Worship Service oo...

WEDNESDAY at 7:30 p.m.
Selective Bible Teaching

Royal Rangers (Boys Club) 4-16 yts.
Missionettes (Girls Club) 4-16 yrs.

FRIDAY at 7:30 p.m.

Youth Ministry Meeting

RADIO MINISTRY

Sundays af 8:30 am, - ZNS 1 - TEMPLE TIME

| Visit Our Book Store: TEMPLE BIBLE & BOOK SUPPLY

EVANGELISTIC TEMPLE

Assembly Of God

Oe OE ne accu mae cme LS
Tel: 322-8304, Fax: 322-4793. P.0. Box: N-1566
PN GUC ea 2 Wee edi Saat aL

8.30 am.
9.45a.m.
O45 am.
11.00.0.m.
8.00 a.m.
6.30 p.m.









THE BAHAMAS CONFERENCE OF THE METHODIST CHURCH

Hillside Estates, Baltic Avenue, Off Mackey Street.
puma 2:0. Box SS-5103, Nassau, Bahamas
vomemma Phone: 393-3726/393-2355/Fax:393-8135

mem CHURCH SERVICES
SUNDAY, APRIL 27, 2008
a aw SIXTH SUNDAY OF EASTER

AGAPE METHODIST CHURCH, Soldier Road
11:00AM Rey. Mark Carey

ASCENSION METHODIST CHURCH,
Prince Charles Drive

11:00AM Rev. Dr. Laverne Lockhart

COKE MEMORIAL METHODIST CHURCH,
Bernard Road
11:00AM

CURRY MEMORIAL METHODIST CHURCH,
Zion Boulevard

10:00AM

EBENEZER METHODIST CHURCH,

East Shirley Street

11:00AM
7:00PM

GLOBAL VILLAGE METHODIST CHURCH,
Queen’s College Campus
9:30AM Rey. James Neilly

ST. MICHAEL’S METHODIST CHURCH, Churchill Avenue
8:00AM Connections - Rev. Philip Stubbs
9:30AM Rey. Philip Stubbs

TRINITY METHODIST CHURCH, Frederick Street
11:00AM Rey. William Higgs




Pastor Charles Moss

Rey. Charles Sweeting

Rey. Charles New/Gift Day’
Rey. Charles New



RADIO PROGRAMMES

‘RENEWAL’ on Sunday at 10:30 a.m. on ZNS 1

Your Host: | Rev. Charles A. Sweeting
‘METHODIST MOMENTS?’ on each weekday at 6:55 a.m.

Your Host: Rey. Charles A. Sweeting
SHE ee a foe a ff 2 A 2 A ea ER AC EI OR ORR CE



4

The 2008 General Conference will be held May
21-25, 2008 at Wesley Methodist Church, Harbour
Island under the theme: “ Peace Begins With Me.”





P “Grants Gown Wesley Methodist cy

(Ballou Hill Rd & Chapel Street) RO.Box CB-13046 tt
he Holy Ghost Prayer-Line number is 326- 7427
(www.gtwesley.org)

SUNDAY, APRIL 27TH, 2008.
ion
7:00 p.m.








Rev. Carla Culmer/Bro. Franklyn Bethel



Sanctuary Choir Anniversary




Santuary Choir








{Casting our cares upon Him, for He cares for us” (1 Peter 5:7)



RYDE, Isle of Wight, Eng-
land — Master drummer
Quentin “Barabbas” Woodside,
of Barabbas and the Tribe,
shows Greenmount Primary
School students how a junkanoo
drum sounds, during a visit to
the school on April 22. Mr
Woodside is a member of the
Bahamian team of junkanoo
artisans and performers on the
English island undertaking a
residency programme there.

Lead beller Frank “Laing”
Wallace of the Saxon Superstars
poses with Greenmount Prima-
ry School female students who
won a bell-ringing challenge
against the boys

Treilon “Raker” Stuart of the
Saxon Superstars shows the stu-
dents a basic fringe and paste
pattern on a white sheet of
paper

Ms Junkanoo Bahamas and
Valleys Boys member Devia
“Diva” Wilson leads students
in a basic dance routine

_ Barabbas poses with the stu-
dents

AS part of Coastal
Awareness Week, the
Bahamas National Trust
hosted a display at the Mall
at Marathon to educate the
public about the impor- .
tance of coastal wetlands
and the ongoing attacks
they endure from natural
environmental change and
human behavior.

The effort was a lead-up
to a full scale campaign
promoting the conserva-
tion of Bahamian wetlands
with the Trust partnering
with the US-based environ-
mental organisation, Rare.

Pictured (l-r) are Trust
volunteer Chrystal Bethell,
student Felicia Archer and
Shelley Cant, BNT educa-
tion officer. Felicia, a stu-
dent at DW Davis, was the
contest winner, successful-
ly answering the most envi-
ronmental questions cor-
rectly in a game specifical-
ly encouraging youth to
learn about wetland con-

servation. Photo courtesy of BNT

THE BAHAMAS, TURKS AND CAICOS fhe
, ISLANDS CONFERENCE |. Re
OF THE METHODIST CHURCH IN THE
CARIBBEAN AND THE AMERICAS
3x L’EGLISE METHODISTE DANSLA ~ a
CARAIBE ET LES AMERIQUES NASSAU" Sena S
CIRCUIT OF CHURCHES
108 Montrose Avenue
P.O. Box EE-16379, Nassau, Bahamas; Telephone: 325-6432;
Fax: 328-2784; methodistconference@msn.com

METHODISM: RAISED UP IN THE PROVIDENCE OF GOD,
TO REFORM THE NATION, BUT ESPECIALLY THE CHURCH ~
AND TO SPREAD SCRIPTURAL HOLINESS THROUGHOUT

’ THE LAND (Father John Wesley)
“Celebrating 225 years of continuous Methodist witness for Christ
in The Bahamas”
SIXTH LORD’S DAY OF THE RESURRECTION, APRIL 27,
2008.

COLLECT: God our redeemer, you have delivered us from thé power
of darkness and brought us into the kingdom of your Son: grant, that
as by his death he has recalled us to life, so by his continual presence
in us he may raise us to eternal joy; through Jesus Christ yout Son our
Lord.

WESLEY METHODIST CHURCH (Malcolm Rd East)
7:00 a.m. Rev. Edward J. Sykes (Holy Communion)
11:00 a.m. Rev. Edward J. Sykes
RHODES MEMORIAL METHODIST CHURCH (108 Montrose
Ave. near Wulff Rd)
10:00 a.m. Worship at Good Shepherd Anniversary Service
6:30 p.m. Conducted by Eastern Zone
COKE MEMORIAL METHODIST CHURCH (Rose Street, Fox
Hill) °
11:00 a.m. Sis. Ruth Pratt
PROVIDENCE METHODIST CHURCH (Shirley Plaza)
11:00 a.m. Rev. Dr. Kenneth A. Huggins
6:30 p.m. Providence Youth
HERITAGE OF REDEEMING LOVE METHODIST CHURCH
(28 Crawford St, Oakes Field
7:00 a.m. Rev. Leonard G. Roberts Jr. (Holy Communion)
9:00 a.m. Rev. Edward J. Sykes
METHODIST CHURCH OF THE GOOD SHEPHERD (Fire Trail

Rev. Emily A. Demeritte/ Bishop Dr. Raymond

R. Neilly

Anniversary (Holy Communion)
CROIX-DES-MISSIONS ALDERSGATE (Quackoo Street)

5:30 p.m. Fridays Children’s Club

9:00 a.m. Sunday — Rhodes Praise Team

MONSTARY PARK FELLOWSHIP

4:45 p.m. Bishop Dr. Raymond R. Neilly (Holy Communion)
METHODIST MISSION CENTRE (Quackoo St) -Thrift Shop and
other Ministries |
JOHN WESLEY METHODIST COLLEGE (28 Crawford St.,
Oakes Field) Reception to Primary

PEACE AND JUSTICE CAMPAIGN: - All Methodists of the
Conference are urged to pray and to fast for Justice to prevail in
the Methodist Cases and for an end to the upsurge in violence. The
fast begins weekly after the evening meal on Thursday and ends at
noon on Friday. This we proclaim unswervingly: “My God and My
Right.”

RADIO PROGRAMS

“Vision” - On the Lord’s Day, ZNS | at 9 p.m.; “Great Hymns of
Inspiration” - On the Lord’s Day, Radio 810 at 5:30 p.m.; “Family
Vibes” ZNS 1, Tuesday, 7:30 p.m.; “To God be the Glory” ZNS 1,
Tuesday, 7:45 p.m.











| Eric Rose/BIS

anoo drum sounds

nkanoo Bahamas



Sunday School: 10am FUNDAMENTAL |...
Preaching = 11am & 7:30pm EVANGELISTIC
Radio Bible Hour:

Sunday 6pm - ZNS 2

Wed. Prayer & Praise 7:30pm

Pastor:H. Mills

“Preaching the Bible as is, to men as they are”
Pastor: H. Mills © Phone: 393-0563 ¢ Box N-3622

IGHT AND LIFE COMMUNITY CHURCH
Grounded In The Past &
Geared To The Future
Worship time: Llam & 7pm
Sunday School: 9:45am
Prayer time: 6:30pm
Place:
The Madeira Shopping
Center
(Next door to CIBC)

Rev. Dr: Franklin Knowles

- ALL ARE WELCOME TO ATTEND

Pastor: Rev. Dr Franklin Knowles

P.O Box EE-16807
Telephone number 325-5712
EMAIL - lynnk@ batelnet.bs

Grace and Peace Wesleyan Church
A Society of The Free Methodist Church of
North America

(VHERE GOD TS ADORED AND EVERYONE IS AFFIRMED,
Worship Time: Lla.m. & 7p.m.

Prayer Time: 10:15a.m. to 10:45am. ° Ne
27” Church School during Worship Service 2
Place: Twynam Heights
off Prince Charles Drive

Special Event

Spring Tea

April 26, 4-6p.m.

Minister: Rev. Henley Perry
P.O.Box SS-5631
Telephone number: 324-2538
Telefax number: 324-2587

COME TO WORSHIP. LEAVE TO SERVE
THE TRIBUNE | / SATURDAY, APRIL 26, 2008, PAGE 7

The Tribune N Foi



SECO CUm ELLIE) On mer Nc om On mer Nc om Wael

Fabulous a atic

younger than you acl ate? Iso, THE TRIBUNE wants to hear from you. Wei re
coking for timeless beauties - 50 and over - for the launch of the Fabulous at ay Age
- promotion starting this Mother’s Day. :

‘There are three categories to entel












ey

rg Body Beautiful We're looking for women who are in top shysical ft form, lo
and fantastic for their age... .
* Silver Foxes:. When you walk down the street does every third person SepNoU al
CS
you ‘how fabulous your silver tresses look? Do your friends constantly ask for the secre
fabulous: hair? Then we're looking for you.
¢ The Gee f p il nang on the softball team? Never miss ee a-















: Fabulous at A Age aohlcation G form. Mal or hand a ‘your completed applica

with two recent colour phot 0S, four by six or five by seven inches, ‘one close-up and the other.

3 y ) n ind e-mail application forms and: images\ to

features @tribunemedia ne nolude t the following i rmation 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 & John f Bull |

Name: Age: Date of birth:
Address: 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 others who
want to follow your example for a healthy, active, beautiful, “ageless” life (100 words or less):

NEW YVES SAINT LAURENT CLEANSERS
SENSATIONS OF PLEASURE, AMAZING GLOW.



Wessantlaurent

Mall at Marathon 393.4406


PAGE 8, SATURDAY, APRIL 26, 2008








0 In brief

Cuba blasts back at
US over breakup of

Havana protest
lm HAVANA

CUBA is accusing Ameri-
can Officials of fabricating a
small protest in Havana this
week and of financing other
actions against the commu-
nist government, according to
Associated Press.

USS. officials say they
“deplored” Cuba’s handling
of a protest by the wives of 10
political prisoners. Police-

“women carried the women to
a bus and took them home.

But the Cuban Foreign
Ministry blames the U.S. for
encouraging “a small number
of counterrevolutionary ele-
ments.” It notes that U.S.
President George W. Bush
has praised the protesting
group, known as the Women
in White.

Cuba’s statement Thursday
in state news media also
alleges that U.S. officials
have increased aid to Cuban
dissidents, such as giving

RBDF Midshipman escorts Queen at graduation ceremony

MIDSHIPMAN Byron McClain of the Royal Bahamas Defence Force escorts Her Majesty Queen Elizabeth II
them radios, literature, T- during a graduation ceremony on April 10 at the Britannia Royal Naval College, England. The Queen was
shirts and access to comput- inspecting the officers at their passing out parade in Dartmouth, England. Midshipman McClain and RBDF
ers. Midshipman Bovair Davis successfully completed the course.

Eis rova. aFweniry

FG CAPI

TAL MARKE
BROKERAGE & ADVISORY SERVICES






cFAL



Dally Vol. EPS $ Div $

Abaco Markets
Bahamas Property Fund

















: Bank of Bahamas 9.61 9.61 0.160 14.9
0.85 Benchmark 0.99 '0.90 -0.09 1,000 0.188 0.030 4.8
2.50 Bahamas Waste 3.50 3.50 0.00 0.289 0.090 12:4
1.30 Fidelity Bank 2.39 2.39 0.00 0.058 0.040 41.2
10.41 Cable Bahamas 13.70 13.70 0.00 1.093 0.240 12.5
2.10 Colina Holdings 2.87 2.87 0.00 0.091 0.040 31.5
4.75 Commonwealth Bank (S1) 7.13 7.13 0.00 0.428 0.290 16.7
3.60 Consolidated Water BDRs = : 0.08 1,403 0.157 0.052 30.4
8.00 2.20 Doctor's Hospital . A R
0o0 5.94 Famguard
3.01 12.49 Finco
4.75 13.24 — FirstCaribbean
10 5.05 Focol (S)
oo 0.54 Freeport Concrete
ICD Utilities







J. S. Johnson






Bahamas Supermarkets
Caribbean Crossings (Pref)
RND Holdings





6.70%
6.16%
00%

~ ABDAB

Bahamas Supermarkets
RND Hold

SESS SO SESS





RS SS
B2wk-Hi 52wk-Low Fund Name













-3081 1.2443 Colina Bond Fund 1.308126** 1.25% 5.61%
8.0008 2.6629 Colina MSI Preferred Fund 2.996573**** -0.14% 13.11%
.3875 1.2647 Colina Money Market Fund 1.387505*** 0.90% 3.87%
B.7969 3.1827 Fidelity Bahamas G & | Fund 3.7011**** -2.52% 17.78%
2.1010 11.4992 Fidelity Prime Income Fund 12.1010** 1.40% 5.72%
00.0000 100.0000 CFAL Global Bond Fund 100.00**
00.0060 100.0000 CFAL Global Equity Fund 100.00**
-0000 4.0000! CFAL High Grade Bond Fund 54.00**" >






0.5000 9.6346 __ Fidelity International Investment Fund 9.6346*



"29 February 2008

- 31 December 2007

s+ 211 April 2008
*-31 March 2008










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 S$ - Acompany's reported earnings per share for the last 12 mths
% NAV - Net Asset Value
. N/M - Not Meaningful
FINDEX< - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

IS2wk-Hi - Highest closing price in last 52 weeks

IS2wk-Low - Lowest closing price in last 52 weeks

Previous Close - Previous day's weighted price for dally 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

IDIV 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





i,
Abaco

Noe “BAY

ASANO IEEE BEALS



PRG MARR Soo

Vacancy fora
Sales and Marketing Project Director

Overall Responsibilities

Onsite coordination of sales, sales administration and marketing
Achievement of targeted sales volume and maintaining inventory

Develop future (MVCI) managers and implement self development programs
implementation of tour efficiency and building of strong team values
Forecasting and budgeting of annual sales targets

Ensuring communication between personnel and others °

Providing weekly report and updates to Ritz-Carlton/MCVI Comorate offices

Essential Job Functions

Monitor and evaluate sales and marketing processes

Monitor and evaluate specific sales and marketing field operations best practices, policies and
guidelines

Monitor and evaluate structufed sales and marketing presentation training

Review ail sales and marketing assumptions in the feasibility process, ensuring strategic and
operational reasonableness, comparability among PEPS, budgets, forecasts and LRP

Qualifications

College degree

Minimum of ten years in marketing vacation ownership

Minimum of five years in management of sales, marketing and/or administration
Excellent communication, listening and organizational skills

Ability to communicate effectively at senior management level

Strong leadership skills

Ritz Cariton Club experience preferred

Please send resume to the attention of: Director of Human Resources
The Abaco Club on Winding Bay
P.O. Box AB-20571
Marsh Harbour, Abaco
Bahamas
OR
Email: humanresources@theabacoclub.com



THE TRIBUNE






Derek Smith/BIS

? MINISTER OF National Security Tommy Turnquest spoke at the Voice of
: Deliverance’s 26th annual general assembly on Thursday. Pictured at left
: is senior pastor and general overseer, Chief Apostle Leon Wallace.

TENDER FOR THE PROVISION OF S :
CONSULTANCY SERVICES ©
in :
PUBLIC RELATIONS
and/or
ADVERTISING & MARKETING

The Bahamas Electricity Corporation
invites Tenders from eligible bidders for
the provision of Consultancy Services in —

Public Relations and/or Advertising & —

Marketing for the Gorporauon



Bidders are required to collect package
from the Corporation’s Administratio
Office, Blue Hill & Tucker Roads by
contacting Mrs. Delmeta Seymour, a
Phone No. 302-1158.



Tenders are to be delivered on or 1 before
1st May, 2008,3:00p.m.
and addressed as follows:

Mr. Kevin Basden
General Manager
Bahamas Electricity Corporation _
Blue Hill & Tucker Roads

Nassau; Bahamas -

og z:

* Marked: Tender No. 660/08
Consultancy Services in Public Hela .
tions and/or Advertising & Marketing
The Corporation reserves the roht to

accept or reject the whole or such |

part of any Tender the Corporation _ _
deems necessary.

Exuma Lots
For Sale

2 Lots together in Section
16 Bahama Sound Exuma



Call
327-8026
or
359-3160

Yam - 6pm



K. S. Moses



Collins & Rosetta
Tel: 322-7707


Writes Ve Orwe

Banque Privée Edmond de Rothschild Ltd.
(Incorporated under the laws of the Commonwealth of The Bahamas)

Balance Sheet

As of 31 December 2007

(Expressed in Swiss Francs)

‘ Notes 2007 2006

CHF CHF

ASSETS

Due from banks 3&4 _ 62'733'601 67'994'629
. Loans and advances to customers 3&4 23'280'594 5'408'138

Investments in securities 8 6'061'929 4'540'693

Positive replacement values of derivative :

financial instruments 3&7 1'386'125 1'272'571
Investment in subsidiaries 63'740 63'740
Accrued income and prepaid expenses , 3 468'586 336'505
Other assets 23'154 29'913
Fixed assets 5 29'935 52'234
Property and building 6&7 4'812'938 2'165'622

~ TOTAL ASSETS 98'860'602 81'864'045
LIABILITIES AND SHAREHOLDERS’ EQUITY
. Liabilities . ; ;
Due to banks 3&4 12'970'091 3'174'386
Due to customers 3&4 44'760'168 42'211'487
- Negative replacement values of derivative i
’ financial instruments 3&7 1'301'387 171211
Accrued expenses and other liabilities 3 1'615'339 1'203'681
Total Liabilities , 60'646'985_ 47'760'765
Shareholders’ Equity
Share capital +

Authorised, issued and fully paid:

15,000 shares of CHF 1,000 each 15'000'000 i5'000'000
General banking reserve 9 16'000'000 14'000'000
Retained earnings 7'213'617 5'103'280
Total Shareholders’ Equity 38'213'617 34'103'280
TOTAL LIABILITIES AND




SHAREHOLDERS’ EQUITY ; ae nary, 98'860'602 81'864'045

a-behalf of The Board on 18 March 2008:



Disector



Notes to the Balance Sheet
31 December 2007

1.

2.

General Information

Banque Privée Edmond de Rothschild Ltd. (the Bank) is incorporated under the Companies Act,
1992 of the Commonwealth of The Bahamas and is licensed under the Banks and Trust
Companies Regulation Act, 2000, to carry on unrestricted banking and trust business from within
The Bahamas. The principal activities of the Bank are providing banking, investment

management and other financial services. The Bank is a wholly owned subsidiary of Banque .

Privée Edmond de Rothschild S.A., (the parent company) which is incorporated in Geneva,

Switzerland. All significant balances with the parent company and companies in which the

‘parent company controls 20% or more of the issued share capital (termed affiliates) are disclosed
in this balance sheet (see Note 3).

The registered office of the Bank is located at No. 51 Frederick Street, Nassau, Bahamas, and at
the year-end the Bank had 14 (2006: 13) employees.

Significant Accounting Policies

The principal accounting policies applied in the preparation of this balance sheet are set out
below. These policies have been consistently applied to all years presented unless otherwise
stated. :

(a) Basis of preparation

The Bank prepares its balance sheet in accordance with International Financial Reporting
Standards (IFRS) and under the historical cost convention, as modified by the revaluation
of all derivative contracts. .

The preparation of a balance sheet in accordance with IFRS requires management to make
estimates and assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the balance sheet.

In the current year, the Bank has adopted IFRS 7 Financial Instruments: Disclosures and the
amendments to JAS 1 Presentation of Financial Statements, which became effective for
fiscal periods beginning on or after 1 January 2007. The impact of the adoption of IFRS 7
and the changes to LAS 1 has been to expand the disclosures provided in this balance sheet
regarding the Bank’s financial instruments and management of capital.

The remaining standards and amendments and interpretations to published standards that
became effective for fiscal periods beginning on or after 1 January 2007 were not relevant
to the Bank’s operations and accordingly did not impact the Company’s accounting policies |
or balance sheet.

The application of new standards and amendments and.interpretations to existing standards
that have been published but are not yet effective are not expected to have a material impact
on the Company’s accounting policies or balance sheet in the period of initial application.

(b) Change in accounting reference date

In December 2006, the Bank made a decision to change its policy for recording deposit
taking and placement activities from trade date, the date on which details of the deposit are
agreed, to value date. The change was made to align the Bank’s accounting reference date
with that of the parent company who also made a similar change during that year.

(c) Cash and cash equivalents

Cash and cash equivalents consist of cash on hand, demand deposit balinces and precious
metals with banks.

(d) Loans and advances to customers

Loans and advances to customers are stated at the principal amount outstanding less any
specific provisions for impairment which the directors consider necessary. Both loans and
advances to customers are adequately collateralized by cash, cash equivalents and
marketable securities held by the Bank on behalf of the borrowers. Accordingly, the Bank
has not established a provision for impairment of loans and advances.

(e) Investment in subsidiaries

Investment in subsidiaries consists of the Bank’s investment in its four (4) nominee
companies, namely, Ebony Nominees L1d., Ivory Nominees Ltd., Orion Nominees Ltd. and
Mercury Nominees Ltd., and are stated at cost. .The effect of not consolidating the
subsidiaries is immaterial as they each have a nominal amount of share capital and their
activities are limited to providing nominee services on the Bank’s behalf to its customers.

(f) Fixed assets

Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on
the straight-line basis over a period of 3 years, being the estimated useful life of the assets.

(g) Property and building

Property is stated at cost, including legal fees. The building is in the construction phase and
_ therefore not yet depreciated.

: SATURDAY, APRIL 26, 2008, PAG »

’ (b) Valuation of derivative financial instruments

Forward currency contracts are valued using the forward cate for the remaining period to
maturity as of the last business day of the financial year.

Options contracts are valued at the closing settlement price established on the last trading
day of the reporting period by the exchange on which they are principally traded.

(i) investments in securities

Investments in securities comprise securities held-to-maturity and are carried at amortized
cost using the effective interest method, less any provision for impairment. Held-to-
maturity investments are non-derivative financial assets with fixed or determinable
payments and fixed maturities that the Bank’s management has the positive intention and
ability to hold to maturity. If the Bank were to sell other than an insignificant amount of
held-to-maturity investments, the entire category would be reclassified as available-for-sale
and would therefore be measured at fair vulue rather than amortized cost.

All regular way purchases and sales of investments in securities are recognized at trade
date, which is the date the Bank commits to purchuse or sell the securities.

G) Translation of foreign currencies
The currency of The Bahamas is the Bahamian dollar (BSD). However, items included in
the balance sheet are measured using the currency of the primary economic environment in
which the Bank operates (“the functional currency”). The financial statements are presented

in Swiss Francs (CHF) which is the Bank’s functjonal and presentation currency.

Monetary assets and liabilities in currencies other than CHF are translated to CHF at the
rates of exchange prevailing at the year-end.

Non-monetary assets and liabilities in currencies other than CHF are translated to CHF at
the rate of exchange prevailing on the transaction date.

(k) Assets under administration

The Bank commonly acts as trustee and in other fiduciary capacities that result in the
holding or placing of assets on behalf of individuals, trusts and other institutions.

No account is taken in this balance sheet of assets and liabilities of customers held by the
Bank in a trustee, nominee or custodial capacity. ,

3. Balances with Related Parties

Related parties include the parent company and its directors, affiliates and their directors, other
entities over which they exercise significant influence, and key management personnel of the
Bank. This balance sheet includes the following significant balances with related parties:

2007 2006

CHF CHF

000’s 000’s
Balances
Due from banks 35,882 28,530
Loans and advances to customers - _ 76
Derivative financial instruments — assets 873 508
Accrued income and prepaid expenses 40 ‘30
Due to banks ‘ 12,932 _ 2,985
Due to customers 205 241
Derivative financial instruments — liabilities 493 591
Accrued expenses and other liabilities 243 234
Off-Balance Sheet Commitments
Guarantees 17 18

Financial Risk Management :

The Bank engages in transactions that expose it to a variety of financial risks in the normal
course of business. These risks include operational, market, liquidity, interest rate, currency and
credit risk. The Bank’s financial performance is dependent on its ability to understand and
effectively manage these risks. .

e Operational risk

The Bank provides significant asset management, custody and trustee services to third parties.
These activities give rise to an operational risk, which is the risk that the Bank may fail in
carrying out certain mandates in accordance with the wishes of its customers. To manage this
exposure, the Bank has established risk management facilities and installed software to
control the attendant risks. :

o Market risk

Market risk is the risk that there will be a change in the value of a financial instrument due
to changes in general and specific market conditions. The Bank’s exposure to such risks is
concentrated in its held-to-maturity securities. Market risk is considered minimal as the
Bank principally invests in high grade debt securities and intends to hold the securities to
maturity.

° Liquidity risk
This is the risk that the Bank might not have the necessary liquidity to meet its contractual
obligations. The Bank manages its liquidity risk by matching liabilities with assets of

similar maturity periods. The most significant banking assets and liabilities can be
classified, based on the period remaining to maturity as of the balance sheet date as follows:

As of 31 December 2007

Three months Three to Nine to
or less Nine Mouths Twelve Months Total
CHF CHF CHF CHF
Assets /
Due from banks .
- demand 38'336'473 - - 38'336'473
- time 4'397'128 14'000'000 6'000'000 24'397'128
Advances to customers 16'454'034 - - 16'484'034
Fixed term loans 6'826'560 : - 6'826'560
Total OU'VL4'195 14'000'000 6'000'000 86'014'195
Liabilities
Due to banks
- demand 9'598'091 - - 9'598'091
- time 3'372'000 - - 3'372'000
Due to customers :
- demand 44'321'621 - - 44'321'621
- time 438'547 - - 438'547
Total §7'730'259 - - 57'730'259
Liquidity gap 8'283'936 14'000'000 6'000'000 28'283'936
As of 31 December 2006 '
Three mouths Three to Nine to
or less Nine Months Twelve Mouths Total
CHF CHF CHF CHF
Assets
Due from banks
- demand 38'814'683 - - 38'814'683
- time 9'179'946 14'000'000 6'000'000 29'179'946
Advances to customers 5'039'882 - - 5'039'882
Fixed term loans 368'256 : : 368'256
Total ___53'402'767_ __14'000'000_ “__6'000'000_,__73'407'767_
Liabilities
Due to banks
- demand 3'174'386 -. \ - 3'174'386
- time - - - -
Due to customers
- demand 40'753'865 - - 40'753'865
- time 1'457'622 - - 1'457'622
Total . 45'385'872 : : 45'385'873
Liquidity gap _ $'016'S94 14'000'000 6'000'000 28'016'894
PAGE 10, SATURDAY, APRIL 26, 2008





THE TRIBUNE

Commitmen:s and Contingencies

(a) Deriv.tive financial instruments

The Bank enters into forward currency contracts and over-the-counter equity, precious
metals and currency options as part of its customer-related trading activities. Forward
currency contracts are contracts to purchase or sell foreign currencies at specified rates of
exchange on specific dates in the future. Risk arises from the potential inability, of
counterparties to perform under the terms of the contracts (credit risk) and from fluctuations
in the foreign exchange rates (market risk). The Bank manages its market risk of customer-
related positions by taking offsetting positions with its affiliates, resulting in minimal
market exposure. The credit risk of customer positions is managed by applying uniform
credit standards maintained for all activities with credit risk. Collateral held in support of

such derivatives activity generally includes cash, cash equivalents, and marketable
securities.

Equity, precious metals and currency options confer upon the holder the tight but not the
obligation to buy or sell a specified quantity of equities, precious metals or currencies at a
specified price (the strike price) during a specified period. As a writer of equity, precious
metals or currency options, markvi risk arises from potential unfavourable movements in
the price of the equities or currencies underlying the options. Collateral held in support of
such derivative activity generally includes cash, cash equivalents and marketable securities,

As of 31 December 2007, the Bank had contractual commitments under open forward
currency contracts and equity, precious metals and currency options as follows:

2007 2006

CHF CHF:

000’s 000’s
Commitments to purchasc foreign currencies 139,034 150,498
Commitments to sell foreign currencies 138,949 150,397
Options to sell equities, precious metals and currencies - 774

Commitments and Coutiugeacies (Continued)

(a) Derivative financial instruments (Continued)

(b)

The contract amounts of these instruments reflect the extent of the Bank’s involvement in
forward currency contracts and equity, precious metals and currency options and do not
represent the Bank’s risk of loss due to counterparty non-performance. The replacement ~
values of these customer-related derivatives are disclosed on the balance sheet. As of 31
December 2007, the credit risk is limited to those contracts with a positive fair value and
that amounted to CHF 1,386,125 (2006: CHF 1,272,571).

Building construction

As of 31 December 2007 the Bank has outstanding contractual commitments in respect of
the construction of an office building in the amount of BSD 1,1 million.

Investments in Securities — Held-to-Maturity

The fair values below represent the closing trade price established on the last trading day of the
current reporting period by the exchange on which the securities are principally traded.

© Currency risk 7.
Currency risk is the risk that the Ba..k’s financial position, profitability and cash flows Iuay
fluctuate significantly as a result of changes in foreign currency exchange rates. 1 he Bank
manages its currency risk by matching foreign currency liabilities with assets denominated
in the same currency that have the same or similar term. The table below shows the Bank’s
financial instruments at carrying amounts, categorised by currency.

As of 31 December 2007 in CHF 000's

CHE USD EUR Other Total
Assets |
Due from banks 29'283 2'470 25'466 S'S15 62'734
Loans and advances to customers 320 22'289 591 81 ea
Investments in securities 6'062 - - - aie
Derivative financial instruments 1'386 - - - 1'386
Investment in subsidiaries 64 - - : 64
Accrued income and ‘
prepaid expenses 456 9 3 - 468
" ‘Other assets - 17 - 6 23
Fixed assets 30 - - - 30
Property and building ‘8 i
Total assets ___ 42414 __24°785. __26:060. ___5'602_ ___9a'sol_
Liabilities : . , .
Due to banks 22 12'601 103 244 12'970
Due to customers 3'125 10'522 25'983 5'130 44'760
Derivative financial instuments 1'301 - - - 1'301
Accrued expenses and —
other liabilities ___ 1048 566 LL
Total liabilities 5496 __ 23/689 __ 26088 _5374. __60'647_
oe 7.
CHF USD EUR Other Total
Assets :
Due from banks 42'386 14'155 8'367 3'087 67'995
Loans and advances to customers 402 4'182 341 483 5'408
Investments in securities 4'541 - - - 4'541
Derivative financial instruments 1'272 - - - ‘V272
Investment in subsidiaries 64 - - - 64
Accrued income and
prepaid expenses 320 13 2 1 336
Other assets - 23 - 7 30
Fixed assets 52 - - - 52
Property and building Bo : 2166
Total assets ___51'203. ____18'373. __8'710. ____3578 ___81'864_
Liabilities 8.
Due to banks “ - 2'984 35 155 3'174
Due to customers 16'608 13'537 8'836 3'231 42'212 '
Derivative financial instruments 1171 - - - 71
Accrued expenses and .
other liabilities 684 518 2 : 1'204
Total liabilities ——18463. __17039. __8873 —__3386. ___47'761_
Net on-balance sheet position 32740, eed 334, eR ete
e Credit risk
Credit risk arises from the failure of a counterparty to perform according to the terms of the
contract. From this perspective, the Bank’s credit risk exposure is primarily concentrated in
its deposits placed with other banking institutions and in its loans and advances to customers.
The Bank’s deposits have been placed with high quality international banking institutions,
and loans, advances and credit commitments to customers are fully collateralized by assets
held by.the Bank on behalf of these customers.
The following table presents the Bank’s main credit exposure by geographical location, based
on the domicile of the counterparty:
2007 2007 2006 2006 9
CHF CHF
000’s % 000’s %

Assets

Switzerland 24'899 25 27612 34

Luxembourg 33'864 34 28'188 34

United States of America 2'253 2 2'103 3 10

British Virgin Islands 4'280 4 1'069 1

Belgium 4000 4 2'000 2

The Bahamas 19438 20 4154 5

Panama 2741 3 803 1

Netherlands % - - 10'000 12

Venezuela 2'564 3 3'034 4.

Other 4'822 5 ' 4

__98'861 00 ___81'864, 0

Credit Commitments
British Virgin Islands 5'626 92 11'428 95
Other , 484 8 583 .
6'110 100_- 12'011 100

e Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument
will fluctuate because of changes in market interest rates. The Bank’s exposure to fair
value interest rate risk is concentrated in its investment securities, which are at fixed
interest rates. The Bank does not consider this risk to be significant, as it intends to hold
the investments to maturity.

5. Fixed Assets
Furniture
Leasehold Motor and Computer
Improvements —_ Vehicles Fixtures Equipment Total
CHF CHF CHF CHF CHF
Cost
Balance as of 1 January 2007 138'718 131'226 280'127 443'306 993'377
‘Additions 7 z S 18'104 L8'104
Balance as of 31 December 2007 138'718 131'226 280'127 4G1'410 L'011'481
Accumulated depreciation
Balance as of 1 January 2007 138'718 97486 , = 270'015 428'924 941'143
Charge for the year : 16'370 412 1942) 40°43
Balance as of 31 December 2007 138'718 114356. 280'!27 448'345 981'546
Net Book Value as of:
‘ 11.
3) December 2007 = =. 16'870 : 13005, 29°935
31 December 2006 33'740 4'112 1 4°38 _ 52'234
6. Property and Building

Jn 2006 the Bank purchased property in Nassau, Bahamas and is constructing thereon a building
for its office premises with a budyeted cost ef BSD 5,0€0,000. At the balance sheet date, costs of
BSD 3,928,859 (CHF 4,812,938) nave been incurred afd are included as property and building.
The building is expected to be completed for vecyipancy in 2008

.

Interest Atnortized Fair

Units —_— Bonds Rate Maturity Cost Value

CHF CHF . air
500000 Citigroup Inc - EM- 1.50% 07.04.08 499695 497650
500000 UBS AG Jersey Branch 1.75% 0212.08 502'312 493'000
500000 Italie- EMT- 2.00% — 30.04.09 497425 494900
500000 Province of Ontario -EMI- 2.00% — 15.09.09 S0SS69 494750
500000 Colgate-Palmplive Co 1.875% 06.04.10 503'353 487000
500000 New York Life Funding - EMT - 2.125% 181210 495137 483'250
500000 HSBC Finance Corp - EMI- 275% 14.06.11 500122 489750
500000 General Electric Capital Corp GBOC 1.75% 25.10.11 499403 475250
500000 Aegon Global Institutional Markets PLC 275% 15.02.12 498212 480250
500000 Credit Suisse London Branch 3.00% 04.06.12 500352 494'500
500000 Swedish Covered Bond Corporation 279% 14.06.13 495045 489500
500000 Compagnie de Finuncenent Foncier - EMT - 3.125% 10.10.14 502'158 500500
5998783 3830300

Included in the amortised cost of held-to-maturity investments on the balance sheet is accrued
interest receivable amounting to CHF 63,146 (2006: CHF 34,006).

General Banking Reserve

The Bank makes appropriations from retained earnings to a general banking reserve for
unforeseeable risks and future losses. The general banking reserve can only be distributed
following approval by the shareholders in a general meeting.

Capital Management

The Bank’s objectives when manaying Capital are:

e Tocomply with the capital requirements set by the Central Bank of The Bahamas (the Central

Bank);

e To safeguard the Bank’s ability to continue as a going concern so that it can continue to
provide retums for its shareholders and benefits for other stakeholders; and
e To maintain a strong capital base to support the development of its business.

Capital adequacy and the use of regulatory capital are monitored by the Bank’s management,
employing techniques designed to ensure compliance with guidelines established by the Central
Bank. The required information is filed with the Central Bank on a quarterly basis.

The Central Bank requires each entity with a public bank and trust licence to: (a) have regulatory
capital of at least $5,000,000 and (b) maintain a ratio of total regulatory capital to risk-weighted

assets at or above a minimum of 8%.

The table below summarises the composition of regulatory capital and shows the capital adequacy
ratio of the Bank as of the balance sheet date. The Bank has complied with all of the externally

imposed capital requirements to which it is subject.

Tier 1 capital
Share capital
General reserve
Retained earings

Total Tier 1 capital

Less adjustments to base capital
Total eligible base capital
Risk-weighted assets

Capital adequacy ratio

2007
CHF

15'000'000
16'000'000
7':213'617

38'213'617



69%

Fair Value Estimation of Financial Instruments

2006
CHF

15'000'000
14'000'000
5'103'280
34'103'280
63 1] 40

341'939°

39'951'277

85%

Financial instruments utilised by the Bank include recorded assets and liabilitics shown in the
balance sheet, as well as items disclosed in these financial statements that principally involve off-
balance sheet risk. The majority of the Bank’s financial instruments, except those disclosed in

Note 8, are either short-term in nature or have interest rates that automatically reset to m

urket on a

periodic basis. Accordingly, their estimated fair values are not significantly different trom their
carrying values for each major category of the Bunk’s recorded assets 2nd liabilities.
THE TRIBUNE







PRICEWATERHOUSE(COPERS



| PrivewaterhouseCoupers
Providence House
East Hill Strect
P.O. Box N-3910
Nassau, Bahamas
Website: www.pwe.com
1:-mail: pwebs@bs.pwe.com
felephone (242) 302-5300
Favsimile (242) 302-5350







INDEPENDENT AUDITORS’ REPORT

To the Suareholders of Banque Privée Edmond de Rothschild Ltd.

We have audited the accompanying balance sheet of Banque Privée Edmond de Rothschild Ltd. (the
Bank), and a summary of significant accounting policies and other explanatory notes.




Management's Responsibility Jor the Balance Sheet


























Management is responsible for the preparation and fair presentation of this balance sheet in accordance
with International Financial Reporting Standards. This responsibility includes: designing, implementing
and maintaining internal contro! relevant to the preparation and fair presentation of financial statemeuts
that are free from material misstatement, whether due to fraud or error; selecting and applying
appropriate accounting policies; and making accounting estimates that are reasonable in the
circumstances. :

Auditors’ Responsibility



Our responsibility is to express an opinion on this balance sheet based on our audit. We conducted our
audit in accordance with International Standards on Auditing. Those standards require that we comply
with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the
balance sheet is free from material misstatement.



An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditors’ judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or
error. In making those risk assessments, the auditors consider internal contro] relevant to the entily’s
preparation and fair presentation of the financial statements in order to design audit procedures that are
appropriate in 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 financial statements. :



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 accompanying 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.

Emphasis of Matter



| Without qualifying our opinion, we emphasise that the accompanying balance sheet does not comprise
i a complete set of financial statements in accordance with International Financial Reporting Standards.
Information on results of operations, cash flows and changes in equity is necessary to obtain a
complete understanding of the financial position, performance and changes in financial position of
Banque Privée Edmond de Rothschild Ltd.

Pocansdp ana Loopn

Chartered Accountants
Nassau, The Bahamas
} 18 March 2008

WSS
We

BRISTOL

ve o3

WINES & SPIRITS
PUBLIC NOTICE

To: All Our Valued Customers

Please be advised that the main
warehouse of Bristol Wines & Spirits,
Gladstone Road will be closed for
inventory count on Wednesday April
30th. Our Customer Service Dept will
receive all orders for delivery before 11
am on Tuesday 29th and will re-open
for business on Thursday 1st May.

We will be happy to fill any orders you
have on the 30th from one of our Retail
outlets near you.



-SATURDAY, APRIL 26, 2008, PAGE 11
NS

FROM page one

pubescent camera person instructed her to move out of
the way.

Another 31,743 viewers saw an all-out riot in
Pinewood Gardens between girls from C H Reeves
and R M Bailey schools which began on a jitney and
ended in the street.

One poster wrote: “I am sick and tired of these lil’
children acting like wild animals. . primitive. This coun-
try will be in the gutter if you leave it up to them and the
thing is most of these children are scared of their par-
ents and want to show up so people think they’re cool.”

Government schools in New Providence are not
alone in the trend as nearly 2,000 viewers saw a fight on
Galilee Academy’s campus which claimed the match
was won by grade 12 and a group of males battling in a
St George’s school classroom of chaos. Meanwhile,
Eight Mile Rock School had an astonishing six fight
postings in one month with a combined total of viewers
reaching a combined 69,855 viewers.

Bishop Ian K Braithwaite of Holy Dove Ministries
and Raw Gospel, Coconut Grove, said the main reason

Thousands watch fight

The Bahamas is in a state of decay is because Bahami-
ans are forgetting that it takes a village to raise a child.

“We complain about sex and crime in our kids but it
is human nature to imitate what we see,” he said.

“Babies learn to walk, talk and eat solid foods
because they see our actions. We are allowing our chil-
dren to have these cellular phones to record these
videos, allowing them to go on the internet unsuper-
vised to post them and allowing our children to show us
these images and then laughing along with the images
instead of being parents and finding the guardians of
those children to let them know that their children
have gone astray. —-

“Parents are allowing kids to smoke dope and hav-
ing sex with them in the room. So when these chil-
dren go out of the house, they don’t need to experiment
because they are used to the real thing. :

“This Bahamas is no longer a village that raises chil-
dren, especially when our children are the parents,” he
added. “We need to read and follow the Bible and
bring our children back.”

Protection FROM pase one

FROM page one

ing increasingly accessible :

pornography can be.

The budding campaign will :
focus on the need for parents :
to communicate with their chil- :
dren and monitor their use of :
computers and mobile phones. ;

Miss Butler-Turner said: :
“Unfortunately there are those :
children who will be influenced :
by what they see, and'we must :
start protecting our families :
from the large amount of :
pornography that is surfacing :
throughout the world, through ;

our computers.

“There are frightening things

- out there and children are at :

risk, so parents have got to be ;
more proactive and take more :
responsibility for what their :

children are involved in.”

The FNM minister is also }
pushing for an adequate sex ;
education programme in :

schools
Bahamas.

throughout

The

She said: “We as a society }
have to realise that it is not a :
taboo subject but a subject that :
has to be embraced and taught :
along with Christian morals, so :
children know the truth about :
sex and understand the conse- }
quences so they do not engage :
in this reckless sexual behav- :

iour.”

“(Those inside the meeting are)
just trying to tell Mr Mackey (the
principal) that they’re really at a
disadvantage,” one 12th grader
said, “People really don’t want to
write the exam so it doesn’t look
bad.on their resume or their tran-
scripts. They’re really concerned.
Our student council president tried
to get meetings with administra-
tion but they just kept giving us
the run around.” ,

Principal Charles Mackey
declined to comment yesterday
outside the campus meeting, refer-
ring The Tribune to the Anglican
Central Education Authority
instead.

Director at the ACEA, Mrs
Saunders, was adamant that the
student’s statements did not accu-
rately reflect the truth of the mat-
ter. ‘

“A teacher did leave suddenly
and we have been looking for a
replacement. But in the meantime
we had a teacher who was working
with those students. What has
been happening is that students

have not always been turning up

when they should have.” —

She also said she found it “very
hard to believe” that the students
might have only started the two-
year course in their final year, as
all who The Tribune spoke with
had stated.

Mrs Saunders said that the
ACEA continues to “monitor” the
students because they “want every

Shooting victim dies in hospital

FROM page one

Police are still searching for the gunmen involved in the brazen |

daylight shooting on Wednesday evening at Adventurer’s Way, near

Watlins Lane.

Andy Wilfred Weekes, 32, of Adventurer’s Way, one of the
two men shot, died Wednesday evening shortly after being taken

to hospital.

Police do not know the moti

occurred around 7pm.

ve behind the shooting, which

According to reports, four men in a burgundy-coloured vehicle
opened fire on both men, who were later discovered at the rear of
a house with gunshot wounds to the head.

Asst Supt Loretta Mackey is appealing for information. Police
can be reached at 350-3107/8 or 911.

ccececcecsscsccscceccesncccceececscceccesceceecnesesenccessceecceseesaransassasenscsssesaceneneccecaseaennanesaeaessessuanasvansusesasacenacacseenarascasaasearassucsaccanesnoauerscacnsecseaes ese ese ese ees



St John’s

student to have the opportunity.
to do well in their course of stud-
ies.”

An irate parent of one of the
seniors yesterday said that this was
“not her understanding” of the
matter. :

Her words were echoed in those
of another student on campus who
said that he felt that students
“should’ve been compensated” for
the alleged staffing deficiencies.

“We probably only covered one
or two topics and now they’re
making us take the exam and we
aren’t qualified to do it,” said
another.

A message left for permanent
secretary in the ministry of educa-
tion, Elma Garraway, was not
returned up to press time yester-
day.

Three fires
FROM page one

He explained that the depart-
ment is trying to maximise the
use of its resources as best as
possible to be able to fight fires
on three different fronts.

“We don’t know the exact
causes for any of the fires, but
this is the bush fire season,” he
said. © ;

While the Carmichael Road
and Tropical Gardens fires have

. been brought under control, Mr

Evans said that firefighters are
having difficulty reaching the
fire burning in the inaccessible
area between Coral Harbour
Road and Adelaide Road,
which spans hundreds of acres
of undeveloped land.

“That is going to be a real
challenge,” he said.

Heavy smoke from both the
Coral Harbour and Tropical
Gardens fires threatens to
reduce visibility for aircraft
landing and taking off at the

‘airport if the situation is not

dealt with soon.

AP Photo

ZIMBABWE’S opposition Movement for Democratic Change, MDC, supporters are taken by police from out-
side the Harvest House, the headquarters of the MDC, in Harare, Zimbabwe, Friday April 25, 2008.

Police raid headquarters
of Zimbabwe’s opposition

@ HARARE, Zimbabwe

PREGNANT women, moth-
ers with babies strapped to their
backs, girls who had been threat-
ened with rape, men with broken
bones — these were among the
hundreds of people beaten and
shoved into police vans during a
police raid on Zimbabwe’s oppo-
sition headquarters Friday,
according to the Associated Press.

Security forces also ransacked
the offices of independent elec-
tion monitors, hauling away mate-
rial documenting President
Robert Mugabe’s apparent elec-
toral defeat. The strikes sent a
powerful message the country’s
longtime leader intends to hold
onto power despite a growing
global clamor for him to step
aside.

Morgan Tsvangirai’s Move-
ment for Democratic Change and
the independent Zimbabwe Elec-
toral Support Network both
maintain Tsvangirai won the
March 29 presidential vote, based
on their own surveys of tallies
posted at ballot stations. Official
results have yet to be released.

About 250 riot police wielding

batons arrested about 300 peo-
ple in the sweep on the opposi-
tion’s Harvest House offices in
the capital, Harare.

Scores of the detainees were
supporters who had sought refuge
in the downtown building after
being attacked by ruling party

" loyalists for daring to vote against

Mugabe.

Police “were armed to the
teeth,” said opposition party
spokesman Nelson Chamisa, who
fled the building to escape arrest.
“We asked about a warrant and
the answer was a baton stick.”

With their homes in villages
across the countryside burned,
many of those who took refuge in
the building arrived with only the
clothes on their backs. Some had
been living in the party head-
quarters for a week, awaiting
medical attention, food and cloth-
ing.

They were taken to the city’s
main police station and there
were fears they would be victims
of more violence.

“Their lives are under threat.
They are going to be subjected
to further torture,” Chamisa said.

In similar cases in the past,

according to opposition party sec-
retary-general Tendai Biti, those
rounded up have been spirited to
jails far from Harare, turning up
days or even weeks later.

“Some of them will never
resurface,” Biti told The Associ-
ated Press in neighboring South
Africa. ;

“They will die and be buried
very quietly.”

Police spokesman Wayne
Bvudzijena said those arrested
were suspected “in connection
with some crimes that were com-
mitted in the countryside.”

Hundreds of opposition sup-
porters have been abducted, tor-
tured and assaulted in recent
weeks in what independent reli-
gious and human rights groups
call a violent crackdown on dis-
sent. Tsvangirai’s party says at
least 10 of its supporters have
been killed.

On Friday, the opposition said
four more members had been
killed by Mugabe loyalists and
called on the U.N. to intervene
“to immediately stop the violence
against unarmed and defenseless
citizens, whose only crime is vot-
ing for change.”
PAGE 12, SATURDAY, APRIL 26, 2008 THE TRIBUNE





photos by Franklyn G Fe!

NASSAU EVENTS CAPTURED ON: CAMERA






The Kingdor National Parkinson Foundation | Mismorfuraniat en,

ms Beach on Saturday, April 19,
for the charity's eighth annual
: ala ball.
The event raised funds for
the charity which finances
research into Parkinson's Dis-

ease, a chronic and debilitating -
disease of the nervous system.

aQ

«

DILITH
NAIRN,
assistant
manager
of BEC’s
distribution
and -
construction
department,
with Betty
Bullard,
proprieter

) Of All
Seasons

| Florist in
Blue Hill

| Road.



gq JUNE Cleo Lees with Betty Farquharson, Attorney Obie Ferguson Jr and chairwoman of Kingdor National Parkinson Foundation, Mavis
Darling-Hill.



ms

@ DR Janet Davis-Dorset, of Child and Adolescent Health in
Collins Avenue, with her husband-Philip Dorsett, a senior mas-
ter at CC Sweeting Junior School.



@ FREEPORT businessman and accountant Patrick Davis with Barbara Cartwright, of National @ ROCHIELLE BEVANS, owner 4 FROMLEFT: U.S. Ambassador Ned L. Siegel; Mrs. Carmen

a Insurance, and Kara Culner-Wilson, an accounting student at Dalhouise University, whose father, a of The Edge in Marathon Capo and Mr. Gerardo Capo, Developer, Treasure Cove: Bimini
the late Stanley Wilson was one of the first Bahamian economists. Accountant Olga Culmer, the Mall, with his wife Sian, Bay Resort. ,
first female accountant in The Bahamas, accompanies her daughter. - human resource manager at

Commonwealth Brewery.

«<

FROM LEFT:
U.S.
Ambassador
= Ned L.

=) Siegel; Mrs.
Stephanie
Siegel, and
Mr. James

+ Smith,
Chairman of
CFAL, and
former
Minister of
State for
Finance.



g CLEOMI Saunders with her

daughter Sherelle, reverend at BEAUTY consultant Brenda Knowles with Owen Bethel of The
Faith Mission Church of God Montaque Group (left) and former UN ambassador Dr Davidson
Ministry in Fox Hill. Hepburn (right).







© For further information on High Society Pictures please contact

PD