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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Volume: 104 No.166









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— £USA TODAY

BAHAMAS EDITION

WEDNESDAY, JUNE 11, 2008



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Business





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‘

dustice system ‘on
‘brink of collapse’

Hurricane Hole demolition underway

Former police prosecutor
says Bahamas could

face kidnappings and
terrorism unless it is fixed

@ By LARRY.SMITH

FORMER ‘police prose-

cutor Keith Bell told a
public forum Monday that

the Bahamian criminal jus-:

tice system was "on the
brink of collapse" and we
could look forward to kid-
nappings and terrorism
unless it was fixed.

Bell, a lawyer who spent
23 years in the police force,
headed the prosecutions
department before his

retirement last month with |

the ‘rank of chief superin-
tendent. He also headed
the police security and
intelligence branch.
"Now is the time to stop
all the talk," he declared
in a panel discussion at the
College of the Bahamas on
‘the Sanctity of Life: Socio-
Legal Responses to Misad-
ventures and Unlawful
‘Killings in The Bahamas.
"From 1990 to the pre-
sent we have had about a

SEE page 12

Former PLP Senator withdraws
charges against her husband

FORMER PLP Senator Paulette Zonicle appeared in Magis-



THE DEMOLITION of the Hurricane Hole Plaza on Paradise Island

trate’s Court yesterday morning where she withdrew charges -

against her husband.
Last month her husband Charles Zoninis 47, a senior sales and

_ marketing executive with the Broadcasting Corporation was
charged with causing harm and making threats of death against her.

Court dockets alleged that Mr Zonicle, of Berry Avenue,
Yamacraw Estates, caused harm to his wife on Sunday, May 25, at
their home.

It was also alleged that at the same time he threatened Mrs
Zonicle with death.

Mr Zonicle had pleaded not guilty to both charges before Mag-
istrate Carolita Bethel and was granted $7,500 bail with two sureties.

began yesterday. Heavy machinery was on site, tearing down the con-
dominiums and shopping centre, which until its closure housed several
‘popular eateries including Zio Gig?’ s Italian restaurant, and the News
Cafe. Kerzner International is making way for the construction of Mari-
na Village Il'and new timeshare properties.

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Man questioned in connection
with murder is released

The case had been adjourned to December 8, however the case
has.now been dismissed and charges against Mr Zonicle dropped.

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

THE latest suspect ques-
tioned in connection with the
murder of Marvin Wilson has
been released.

Chief Supt Glen Miller, offi-
cer in-charge of the Central
Detective Unit (CDU), told
The Tribune yesterday that no
charges will be brought
against the man, as there is
not sufficient evidence.

To date, he said, five per-
sons were taken-into police
custody and questioned in
connection with the murder
of the 32-year-old Jamaican
man.

All five were released after

questioning.

However, Mr Miller said
that police are not discour-
aged by this fact.

“This is just all part of the
process, we will persevere,”
he said.

Mr Miller said that police

are determined to find more

evidence in this case in order
to solve the brutal slaying of
Mr Wilson..

The CDU chief in an earlier
interview said police at this
time are not able to say if
there is a connection between
the murder of Mr Wilson and
those of Thaddeus McDonald,
Harl Taylor and Wellington
Adderley. :

SEE page 11

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

POLICE are struggling to
break a multi-national prosti-
tution ring operating out of the
abandoned Mayfair Hotel on
West Bay Street, The Tribune
has been told.

While specialising mainly in

‘Jamaican women, thé ‘brothel

also reportedly caters to homo-
sexual men as it is said to pies

“young Bahamian boys”
well.

More alarming still is that the
brothel is only a few yards from
Fort Charlotte police station.

However, Asst Supt Oscar

Sidney Collie

Application mace
in Supreme Court
for judicial review
of officials in local
government elections

LEAVE was granted in
the Supreme Court yester-
day, paving the way for the
filing of a motion for. judi-
cial review of the actions of
Local Government Minister
Sidney Collie and Parlia-
mentary Commissioner
Errol Bethel in the conduct
of local government elec-
tions in Bimini and Exuma.

It is alleged that the gov-
ernment failed to provide
proper notice of the nomi-
nation process, thereby pre-
venting persons to duly
nominate as candidates.

It is also alleged that gov-

SEE page 11





Sands, who heads the Fort
Charlotte station, says his

» department is “not unaware”

of what is going on at the nears
by brothel.

In fact, he said, he headed a
task force consisting of police
and Immigration officers to raid
the establishment just last week.
However, this effort proved to

“have little success.

‘Reportedly, the operators of
the brothel were “tipped off”
moments before the team
arrived. The majority of the
prostitutes escaped in a waiting
bus, with the rest escaping in

nearby bushes.»

It is still unknown, however, if
the informant who alerted the
brothel of the impending raid
was involved with the
police/Immigration operation
that day.

“In the past four months,
since I came here, we have
cleaned up Arawak Cay, and’

in ‘SEE page 11

Case of officer
and man accused
of aiding prisoner's
escape adjourned

THE case of a police officer
and a man accused of aiding in

- the escape of a prisoner from a

police station has been
adjourned.

Sergeant Troy Lewis, 38, of
Pinewood Gardens, and Melvin
Maycock Jr, 24, of Joan's
Heights were back before Mag-
istrate Guillimena Archer in
Court 10, Nassau Street, yes-
terday but their case was

adjourned as Darnell Dorsette . =

of the Attorney General’s
Office told the court that the
prosecution was not ready to
proceed with the matter.

The case has now been
adjourned to September 23.

Court dockets allege that on
Thursday, February 28, officer
Lewis and Maycock Jr, being
concerned with others, aided in
the escape of Melvin Maycock,
Sr, who was in lawful custody
at Elizabeth Estates police sta-

SEE page 11




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PAGE 2, WEDNESDAY, JUNE 11, 2008

LOCAL NEWS

THE TRIBUNE





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

FREEPORT - An American visitor
who filed an armed robbery complaint
was charged in the Marsh Harbour
Magistrate Court for making a false
statement to police.

James Davis Buchanan, 46, of Flori-
da, appeared before Magistrate Mar-
garet Symonette on Monday morning.

He pleaded guilty the charge of mak-
ing a false statement to police with



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intent to deceive. According to police
reports, Buchanan told the Marsh Har-
bour police around 5pm on June 7 that
he was held up and robbed at knife-
point by two black men, believed to be
Haitian nationals.

He told police that the incident
occurred at the Great Abaco Beach
Resort and Boat Harbour.

He said he was robbed of his brown
leather wallet, containing credit cards,
his US passport and $2,000 in cash.

A police sergeant conducted further
inquiries into the armed robbery tom-



plaint on Sunday. However, the offi-
cer became suspicious when Mr
Buchanan gave him a different account
of the alleged armed robbery than had
been given previously.

The officer conducted a search of a
black nylon bag that Buchanan was car-
rying. All of the items reported stolen
during the armed robbery were found

inside the bag, the court heard.

Buchanan was arrested and taken
into custody at the Marsh Harbour
Detective Unit.

He later admitted to making up the





story about the robbery because he had
been out drinking and had spent too
much of his money.

Magistrate Symonette ordered Mr
Buchanan to sign a bond of good
behaviour for a period of three months,
or in default, serve a term of three
months at Her Majesty's Prison, Fox
Hill.

He was then handed over to
Bahamas Immigration officers in con-
nection with a suspected violation of
the Immigration Act.



3



Plan to turn ex-Straw
Market site into green
space under attack

THE plan to turn the site of
the former Straw Market into
a green space will rob down-
town Nassau of its historical
tourism magnate, attorney Paul
Moss said yesterday.

Mr Moss was responding to
Minister of ‘Works Earl
Deveaux’s announcement that
his government plans to build
a “downturn urban park” on
the site of the old Straw Market.

Speaking with The Tribune
yesterday, Mr Moss said this
plan shows “clear hypocrisy and
lack of honesty” on part of the
FNM government.

“Since 2001 there was the
promise to rebuild the Straw
Market.

“And they (the vendors) are
still under that tent,” he said.

Mr Moss, who formerly
owned a store on Bay Street,
said tourists are still asking to
see the Straw Market, as it is

- still known as a major attrac-

tion.

He said he believes that a
new, improved market will be a
huge draw for international vis-
itors.

As it stands now, he said, the
Straw Market had devolved into

va flea market, which sells
. “knock- oe items: to knock-off wa,

Lawyer says move would rob
Nassau of tourism magnet —



Earl Deveaux

tourists.” Instead of dredging
the harbour to accommodate
larger cruise ships in order to
attract, “more of the same” type

of visitor, Mr Moss said the
Bahamas should work to make
the Straw Market so attractive
and exclusive that travellers
demand of the cruise lines that
they make port in Nassau.

Mr Moss, who is also a PLP
hopeful for the St Cecilia con-
stituency, said he is simply
astounded by the governmen-
t’s approach to the future of the
Straw Market.

“It’s extreme short-sighted-

ness,” he said.

As it concerns the govern-
ment’s plan for the old Straw
Market site,

Minister Deveaux has ead
that the planned urban park will
provide “much-needed open
green space in heart of the city
of Nassau, providing a venue
for casual entertainment.” .

The park, which is expected
to be completed by the
2008/2009 fiscal year, is expect-
ed to feature gardens, benches
and shade trees.

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Visitor charged with false armed robbery complaint || © In brief

Darren Adler
hack in court
over fraud case

BRITISH humanitarian Dar-
ren Adler, who is accused of
defrauding a bank of nearly half a
million dollars, was back in a
Magistrate’s Court yesterday.

Adler, 40, is charged with four
counts of fraud by false pretences.
It is alleged that the Lyford Cay
resident obtained nearly $500,000
from the Royal Bank of Canada
Lyford Cay. According to court
dockets, it is alleged that Adler
obtained $117,321.20 from Royal
Bank of Canada Lyford Cay on
March 19; $126,048 on March 20;
$118,291 20 on March 25 and the
same amount the following day
by means of fraud.

Adler who is on $150,000 cash
bail, appeared before Chief Mag-
istrate Roger Gomez yesterday
on crutches.

His fraud case has been
adjourned to June 17 and trans-

' ferred to Court 11, Nassau Street.

Adler will reportedly remain
in custody until someone stands
his bail. He is a representative of
the Humanitarian Operations
(HOPE) Foundation.

‘Che’ Guevara
film set to he
shown at COB

A FILM about the life of Latin
American revolutionary Ernesto
“Che” Guevara will be screened
this weekend at the College of the
Bahamas.

Born in Argentina, Che Gue-
vara is said to have dedicated his
life to opposing socio-economic
inequality through armed strug-
gle. Between 1956 and 1959, he
fought in the Cuban Revolution

-and became an important leader

in the early years of its communist
government.

In 1965, Che travelled to West
Africa, to assist Marxist guerillas
fighting government forces in the
Congo. Two years later, he trav-
elled to Bolivia to support an .

uprising taking place there.

Oh October 7, he was captured~
by the Bolivian Army, with the
help of the CIA and US Special
Forces. Che Guevara was execut-
ed the next day without trial.

The screening will take place
at the Michael Eldon Building at
4pm on Saturday, June 14.
‘ It is open to'the public. ~

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‘THE TRIBUNE *

WEDNESDAY, JUNE 11, 2008, PAGE 3





Three in court |
accused of
sacrilege and |
other offences |

THREE men accused of
sacrilege and other
offences were arraigned in
Magistrate’s Court yester-
day. :
Tekoyo McKinney, 25, of i
Moore Avenue; Alfred i
Darling, 44, of Cordeaux
Avenue and Wellington
Roberts appeared before
Magistrate Susan Sylvester
at Court 11 in Nassau
Street. They pleaded not
guilty to charges of sacri-
lege, shop-breaking and
receiving. ;

According to court dock- }
ets, it is alleged that on i
Wednesday, June 4 at
Washington Street, the
three men broke into the
Reaping Harvest Ministry
Church.

It is further alleged that
‘while there, the men stole
four microphones together
valued at $210 and a tape
recorder valued at $300.

It is also alleged that on |
Friday June 6 while at
Robinson Road, the men
received $76 packs of
Rothmans cigarettes val-
ued at $326.04 and a black
DVD hard drive valued at
$300, knowing that the
items were obtained by
way of an offence.

The three men were
granted bail in the sum of
$3,500. The case has been
agournes ie September

Last minute
work for
shuttle before
hatches close

@ HOUSTON

LITTLE work remained :
for shuttle Discovery’s astro-., i.
nauts to complete ¢ aboard the. y
international space station” :
Tuesday before they closed :
the hatches between the two :
spacecraft in preparation for :
their return trip to Earth, :
according to Associated Press.

On their last full day at the :
space station, the astronauts :
_ installed a backup drive sys- :
tem for the new Japanese :
lab’s robotic arm and were in :
the midst of last-minute pack- :
ing of their spacecraft with _}
equipment and science and :
medical samples to take back
with them. i

Flight controllers from :
around the world who work }
with the station’s crew took }
time 'on Tuesday to bid :
farewell to Garrett Reisman, -}
who is leaving on Discovery
after a three-month stay. :

“I couldn’t imagine what :
these last few months would :
have been like without all the. }
help you have given me,” he
said.

Astronauts aboard the
shuttle-station complex were
also scheduled to get some
off-duty time Tuesday.

“We usually try and give
the crews time off in the joint
mission just to give them a
little chance to relax because
they work extremely hard,” :
flight director Annette Has-: }
brook said.

Later in the day, the crews
of Discovery and the space :
station planned to say their :
formal farewells during a }
brief ceremony before clos- }
ing the hatches between the
shuttle and the outpost in
preparation for Wednesday’s :
departure. The shuttle is set :
to land Saturday.

Discovery delivered the :
new lab named Kibo, Japan-
ese for hope, to the space sta-_ }
tion last week.

The 37-foot lab, about the
size of a bus, is the biggest
room at the space station.
Kibo also has a storage closet
and a 33-foot robotic arm,
which was successfully tested
Monday.

The lab’s third and :
final section — a “porch” for }
exterior experiments — and :
a second, smaller robotic
arm will be delivered next :
year. i



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LOGAL NEWS

Officers charged in beating
will appear in Supreme court

@ By NATARIO McKENZIE



A PROSECUTOR in the Attorney
General’s Office presented a Volun-
tary Bill of Indictment yesterday in
the case of two police officers charged
in the brutal beating of Desmond Key
who died earlier this year after spend-
ing several months in a coma.

This means the matter will now pro-
ceed in the Supreme Court, bypassing
a preliminary inquiry.

Corporal Donavon Gardiner, 35, of

Flamingo Gardens, who is charged
with manslaughter and Constable
Tavares Bowleg, 31, of Garden Hills,
who is charged with abettment to
manslaughter, appeared before Mag-
istrate Guillimena .Archer in Court 10,
Nassau Street.

Key, a father-of-six, was allegedly
brutally beaten while detained at the
Grove police station in June last year.

Key, 28, died at Princess Margaret
Hospital in January, having never
recovered from a coma.

Magistrate Archer informed the offi-
cers yesterday that she and their attor-
neys were in possession of a bundle
of documents submitted by prosecutor
Vernal Collie.

Statements

Magistrate Archer read the charges
in the indictment. She informed the
officers that witness statements were
also contained in the bundle of docu-
ments.

Both officers are expected to
appear in Supreme Court before Act-
ing Chief Justice Elliot Lockhart on
June 23.

Justice Lockhart is expected
to transfer the matter to another
judge as his law firm is involved in the
case.

Officer Gardiner is being represent-

. ed by attorney Alex Morley of the law

firm Lockhart and Munroe and officer
Bowleg is being represented by attor-
ney Willie Moss.

Preparations are almost

complete for CCTV launch

Branville peed

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

A PILOT Closed Circuit
Television project is soon to
begin on Woodes Rogers
Wharf, according to the Min-
ister of State for Tourism and
Aviation.

Branville McCartney said
preparations for CCTV launch
are 95 per cent complete and
once ready the system will be
handed over to the Tourism
Police Unit for 24 hour moni-
toring.

The Ministry of Tourism is
secking to implement ‘ “BRE:

ventative systems, particularly
in high visitor traffic areas,”
he noted.

Delivering his contribution
to the budget debate on Mon-
day evening, the minister of
state said that “being able to
effectively control the crimi-
nal element is critical to the
Bahamas’ continued success
as one of the world’s premier
tourism destinations.”

“The recent shooting of a

. John Casper, a New Jersey

police officer ... who was
wounded by gunshot while on
vacation in Nassau gives us
pause to consider both the
potential harmful impact of

violent crime on tourism and
the importance of everyone

taking the right steps, once an ©

incident has occurred, to pre-
vent further loss and mitigate

the potential impact,” said Mr ~

McCartney.

Meanwhile, today Minister
of National Security Tommy
Turnquest will re-open the
Tourism Police Unit down-
town.

“We want to make sure the
public knows (the police sta-
tion is there), and that we
have some increased attention
on it,” said Mr Turnquest last
week.

He added: “When we talk

about tourism police, we are
talking about police officers
assigned to the touristic
areas.

“So I want to be very care-
ful, to say that these are not
auxillia: y policemen . . . these

are regular police officers ©

assigned to a police tourism
unit (and) they will have all
the regular resources that a
policeman would have.”

He said the tourism police,
who have had at least a-year
of training each, will primari-
ly be involved in preserving
law and order in downtown,
Cable beach and Paradise
Island.



Govt to spend $83 000 on climate change Study

{

i By ALISON LOWE ‘|
Tribune Staff Reporter ‘ |
alowe@tribunemedia.net {



THE government has budgeted to spend $83, 000 on
a study which will help it more clearly understand
the impact climate change will have on the islands.

The money will be used to come up with ways to
adapt to and deal with the threat climate change pos-
es.

Asa low-lying archipelago, the Bahamas has been
identified in numerous international studies as one of

i... the land-masses-most:vulnerable to the ravages-that cli-—-""
ie make 2. shane is.predicted to, bring. .

w, Minister of State for ‘Tourism and Aviation
Braneie McCartney has revealed that the country is
set to take steps towards getting a grip on the situation.

The Bahamas will receive help from Cuba’s Nation-
al Institute of Meteorology as it puts in motion the Pro-
viding Regional Climates for Impact Studies model

_ (PRECIS) across the entire Bahamas.

_ “Outputs from the model runs will be used to pro-
duce impact, vulnerability and adaptation studies; to
assist in the preparation of further national commu-
nications on climate change in The Bahamas,” said Mr
McCartney.

The PRECIS project is a pan-Caribbean project
which aims to create models which are relevant to

‘the Caribbean region in particular, so countries Ihave

a better idea of how climate change will affect ‘their
environments and can respond in an informed way.
Director of sustainable tourism planning Earlston
McPhee warned in April that the Bahamas is lagging
behind on action to form a strategic adaptation and
mitigation plan to deal with climate change. —
Having attended a seminar on the issue at the UK’s
prestigious Oxford University, Mr McPhee, who works
in the Ministry of Tourism, said that he was really
struck by the level of responsiveness in other countries,
of which there were 30 represented, to the risks clirnate
change presents for their territories and populations.
Meanwhile, Mr McCartney also identified several



“Outputs from the model runs
will be used to produce impact,
vulnerability and adaptation
studies; to assist in the

preparation of further national
communications on climate.
change in The Bahamas.”



“Branville McCartney

ways in which the government is seeking to put the
country in a better position to cope with the most

. immediate environmental dangers.

To improve the Bahamas’ ability to detect’oncom-
ing hurricanes, tropical storms and other major weath-
er events, the Department of Meteorology will com-
plete its installation of Emergency Management
Weather Information Network stations — called
EMWIN stations — across the islands.

At a projected cost of $42,000, additional EMWIN
stations, which better enable meteorologists to obtain
and analyse weather information, will be placed in
Grand Bahama; Exuma (to also.serve Ragged Island);
North and South Eleuthera, Acklins and Crooked
Island, Bimini and San Salvador by July of this year,
according to Mr McCartney.

And ahead of the 2008 Hurricane Season, auto-
matic weather stations costing more than $100,000
have now been installed in each of the major Family
Islands.

“These weather stations will also assist the Min-
istry of Agriculture and Marine Resources coupon
insurance scheme.

“This is a scheme in which agricultural and marine
interests are compensated for weather-related losses,”
he said.

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‘Shot in the arm’ for housing market

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

THE ‘housing market in the
Bahamas was given another “shot
in the arm” yesterday when
Arawak Homes announced that
it will offer various medical pro-
fessionals the ability to purchase
homes or residential lot packages
at only 2.5 per'cent of the pur-
chase price as a down-payment.

Franon Wilson, president. of
Arawak Homes, said at a news
conference at the company’s
Shirley Street headquarters, that
the Medical Housing Initiative is
designed to assist trained clinical
nurses, registered nurses, auxil-
iary nurses, laboratory techni-
cians, doctors, pharmacists, den-
tists, dental hygienist and physio-
therapists.

“This initiative is designed to
encourage wider and deeper pub-
lic support for the work of the
nation’s medical professionals and
demonstrate meaningful private
sector appreciation for these per-
sons,” said Mr Wilson.

The initiative, he explained,
relates to either an Arawak
Homes lot and home package, or
a home built with the assistance of
the company on a previously
owned lot. The company will
make equivalent cash contribu-
tions to cover the remainder of
the five per cent down-payment
on the cost of the home and lot
package.

This new initiative applies to
homes and lots around the island,
and will culminate in the creation

of a new subdivision by the com-

_ pany, named in honour of a med-

ical professional.

Arawak’ Homes also plans to
work with iits partners in the bank-
ing industry to ensure lower inter-
est rates for professionals that are
a part of this programme. Cur-
rently, banks are offering 8.75 to 9
per cent interest rates on mort-
gages. Mr Wilson did not want to
announce the specific rates their
customers will receive as yet, but
said, “no one that comes through
the door will be paying 8.5 or 9
per cent for a mortgage.”

The government recently
announced that it will be injecting
$75 milliom into the Bahamas
Mortgage Corporation, and will
create numerous tax concessions
for homeowners, designed to
spark growtki in the housing mar-
ket.

These include the elimination
on stamp tax on the transfer of
mortgages between licensed bank-
ing institutions, and exemptions
from stamp tax for first time pur-
chasers of residential lots for the
construction of a primary resi-
dence.

This stamp tax exemption for
first time homeowners also applies
to those constructing a first home,
and first time jpurchasers of a con-
dominium or duplex unit to serve
as a primary residence. These tax
brakes will last for five years and

the dwelling places must be val-’

ued at no more than $500,000.
Prescola Rolle, president of the
Nurses Association; Philip Gray,
president of the Bahamas Phar-
maceutical Association (BPA)
and Mimi Roberts, also of the

)

BPA, were on hand at the news

‘conference yesterday to give sup-

port to the initiative.

Arawak Homes has created
such programmes before for
teachers, police, Defence Force
and prison officers.

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FAGE 4, WEDNESDAY, JUNE 11, 2008



* 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) 322-1 986
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

Crime needs full and urgent attention

BAMBOO TOWN MP Brenville McCart-
ney, looking around the House chamber at
mostly empty chairs as he rose to speak dur-
ing Monday’s Budget debate, made a sensible
‘suggestion — limit the number of speakers at
Budget time.

As he said, he had spent a lot of time
preparing his contribution to the debate, but
because most of the members had left —
probably it was past their lunch time— there
was “hardly anyone listening” to what he
had to say.

Sixty hours of speaking time has to be
squeezed into the next two weeks to allow
every member an hour on the floor before
the Budget can leave the House for its next
marathon debate in the Senate. For smooth
functioning of government, the Budget has to
be passed by July 1.

As Mr McCartney pointed out this debat-
ing time makes no sense. After the Prime
Minister has spoken, followed by a few other

speakers, the public has lost interest. By then’

the process has become repetitive, with
speaker after speaker getting up-and
mouthing the.same old story. Even the
- reporters have lost interest.
We are blamed for not covering speak-
ers, but reporters are leone or Some tInE
: newsworthy to-report:~

They cannot find it in ibe same cee regur-.

gitated 40 times. In other words to use an

old expression — we don’ t believed in “boiling .

our cabbages twice.”

Nor do our readers. They yerse to con- —

sume the same old fare over and over again
and so we are wasting newsprint to give them
something they.don’t want to read.

They are certainly not interested in who did
what — whether it be PLP or FNM. Nor are
they interested in which party highj acked the
other party’s programme.

They are facing hard times. All they want
are solutions and they are looking to their
representatives to stop talking and deliver
results. i

Mr McCartney’s suggestion was a good
one. Government and Opposition, as he said,
should get together and decide who will speak
for each side, both sides limiting their number
of speakers.

He suggested that legislators review some
of their procedures and revise them where
necessary to make their legislative work more
effective.

Instead of wasting House time these leg-

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islators should turn their efforts to finding
ways to rescue the criminal justice system
from what a former police prosecutor has
warned is “on the brink of collapse.”

This is something that The Tribune has
been saying in many different ways for a long
time.

However, speaking at a forum Monday
evening, former chief superintendent Keith
Bell, who resigned recently as head of pros-
ecutions after 23 years in the police force,
warned that if something is not done to “fix
the system” Bahamians could look forward to
kidnappings and terrorism. In other words
we are catching up with Jamaica, Trinidad,
other West Indian islands and South Ameri-

ca where innocent persons are snatched for a _-

price. From as far back as the days when the
late Sir Etienne Dupuch wrote this column,
The Tribune warned that the Bahamas was
taking its first baby steps towards becomirig
a second crime and corruption-riddled
Jamaica. No one listened: And then came

the drugs and the. Commission of Inquiry |

into drugs. The Commission was a lengthy
and costly process. There was guilt — much
guilt — but there was no punishment. Our

"society was shattered. And today we are pay-

ing the price.

‘As Mr Bell pointed out there is something:

wrong with our priorities and moral stan-
dards when residents can go on ZNS and

praise a convicted drug trafficker for being a.

“Robin Hood” anda pillar of the communi-
ty. They stood by him, condemning the Unit-
ed States for jailing him for 35 years for a
trade that had destroyed so many lives, his
own fellow Bahamians included.

Mr Bell, himself a lawyer, said the justice
system had become the biggest obstacle to
crime reduction. Something this newspaper
has been saying for some time.

“One third of accused murderers are out
on bail, including those accused of up to 10
murders,” he said. More judges were urgent-
ly needed, because, he pointed out, the judi-
cial system had no choice but to release
accused on bail if they could not be tried

within a reasonable time.

Crime needs our full and urgent atten-
tion.
There is no more. time for political finger-
pointing.
This is once that politicians on both sides
have to start working together — or we all
perish.



Cat Islanders’
prayers have
been answered

EDITOR, The Tribune.

(CAT Island has finally been
injected with hope; not blind
optimism. While gasping its
last breath and being left for
dead by the PLP with no signs
of life support in sight, a gigan-
tic puff of the freshest oxygen
is being breathed into the
economy of the quiet island.
The lowly island is now
breathing a sigh of relief.
There is truly a God above
and our prayers have been
answered. Prayer does change
things.

Then let us pray, “To God
be the Glory, great things he
hath done”. Finally someone
is looking out for Cat Island.
Ultimately we would be able
to say that we were not left

out. I wonder what the previ-

ous representative would say
now.

Cat Islanders should now
see for themselves who really
has their best interest at heart.
I can’t imagine what foolish-
ness the PLP would say to or
about this “God sent” project.
But “Fools rush in where wise
men fear to tread.”

Cat Island is untouched,
unspoiled and unhurried, I am
a native Cat Islander, born in

the most beautiful place in the .

world, Orange Creek.
I have been blessed to have

- been born in the early 50’s.

remember what Cat rena
looked like then. There has
been very little of any signifi-

‘cance done since.

When Cat Islanders get
together we usually complain
among ourselves how no one
cares for Cat Island.

We are disgusted that Brave
Davis, who is well connected
in the PLP, did precious little
to help his constituency. He
simply has no excuse.

Cat Islander in Nassau has
made many attempts to sug-
gest how we could pool our
resources to do some things
for ourselves. But you know
how people are, no one wants
to take the lead, narrow-mind-

The dirtiest

EDITOR, The Tribune.

FOR many years now1.

have exchanged visits with my
friends in Kansas..

They would come and live
with me in Freeport, Grand
Bahama, and in Andros, the
place of my birth.

They thought those
Bahamian Islands were so
clean and beautiful that all of

BEAUTY GUARD

wll JBI

aKa} ital SLU ney exe rata eo)



edness usually gets the better
part of the plans and nothing
happens.

One vexing problem is how
easy it is to steal land in Cat
Island.

It seems everyone is doing it
and clear title means absolute-
ly nothing.

Unfortunately the law
means nothing because the
long unenthusiastically
research kills the spirit of the
principal thus causing them to
lose interest.

The PLP had five years and
nothing happened.

That is not true, a lot of
promises were made to fool
the people around election
time, but no one expected
anything because that is what
has been happening to Cat
Island since time immemorial.

Fast-forward — The Free
National Movement Govern-
ment under the wise and trust-
ed leadership of Rt Hon
Hubert Alexander Ingraham
showed exactly why the
Bahamian people were hys-
tericalforhisreturn. ‘-

In one short year Mr Ingra-
ham produced a “masterpiece
budget” so much so that the
opposition is all over the place
talking out of their heads.

Today Cat Island is now
placed on equal footing like
Abaco, Exuma, and Harbour
Island. Natives of Cat Island
can now make plans to return
to the “Jewel of the
Bahamas”.

I cannot image how Brave
Davis can now tell the
Bahamas how he was a good
representative all this time,
because this one venture will
show that he was nothing
more than a politician who got
into parliament by way. of Cat
Island, and that’s all.

area in New

The Bahamas were like them.

Now that I moved back to
Nassau, I continued visiting
them but they never had the
desire of visiting Nassau until
now that the children are all
grown up. Last week they
expressed that they would
wish to bring the children and
spend the summer with me.

I always told them that I
lived in South Beach, which
is only a mile from the ocean.

_ They really became excited

that they would be able to
walk to the Atlantic Ocean
and that their family could

' spend the whole summer on

the beach
At this point I felt the neces-

- sity to be honest with my

friends. I explained that even
though I lived so close to the
ocean in South Beach the sub-
division over the years, espe-
cially now, is the dirtiest area

Prime Minister Ingraham
should be commended for his
shrewd business qualities. He
should be applauded for his
master strokes in how
methodical he is with his plan-
ning.

This welcome news should
cause residents of other
islands to have a higher degree
of hope, because they could
be next. The Prime Minister is
always on time, not like Perry
Christie who is always late. |

The PLP had five years and
did nothing for many islands.
They have no excuse other.
than to say that they just did
not care. They cannot say they
did not have the opportunity.
In my opinion they were
lousy.

One thing I can assure the

‘ people that this is not the usu-

al photo op like the numer-
ous picture taking ceremonies
with Baha Mar about count-
less heads of agreement. This
is not an illusion like the ficti-

‘tious $29 billion of investment

that was only in the figment
of Perry Christie’s imagina-
tion.

As a Cat Islander, I person-
ally thank the Rt Hon Hubert
Alexander Ingraham for look-

. ing out for Cat Island.

You have proven time and
time again that you are far
more than just talk and dance;
you are a man of action.

We are certain that the
uniqueness of the island will,
for the most part, remain
intact. Cat Island is a wonder-
ful island, unlike any other.

T now urge all Cat Islanders
who complained in the past to

“get up off it” and do some-
thing for yourselves on your
island now. Otherwise you
cannot blame anyone if you
are left out.

-The opportunity is there
make the most of it.

IVOINE W
INGRAHAM
Nassau, ’

June, 2008.

Providence

in New Providence and it
appears that those in authori-
ty have no interest in clean-
ing the area.up. They thought
that our South Beach would
be like the one in Miami,
Florida. I told them I did not
want them coming with the
idea that the beach would be
clean and pristine that the
commercial talks about, but
instead it was more like green
with garbage, including stoves,
fridges, mattresses, furniture
and the like. They thought
that I just did not want their
company but they said they
are coming anyway just to see
how we could be the capital
and be so dirty compared to
Andros and Grand Bahama.

AUDLEY D HANNA Sr,
JP

Nassau,
May 20, 2008.

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THE TRIBUNE

WEDNESDAY, JUNE 11, 2008, PAGE 5





THE new building to contain the
Eugene Dupuch Law School will not be
built on John F Kennedy Drive opposite
the Ministry of Housing as planned by
the former administration, but on “the
original site” identified by the earlier
FNM administration, Minister of State
for Legal Affairs Desmond Bannister said.

Contributing to the 2008/2009 Budget
debate on. Monday, Mr Bannister said
that his government “very much wanted
to make a start at constructing a perma-
nent building” for the law school.

He said: “Honourable members would
have heard me comment last year on the

former administration’s efforts to break

ground on land which was not owned by

the government.”

“We have now done the research that



oo —__

In brief

Suspect in
rape of girl,
17, arrested

A MALE suspect has been
arrested in connection with
the rape of a 17-year-old girl,|
Chief Supt Glen Miller said
yesterday.

According to.police reports,
the victim, a resident of Nas-
sau Village, told her father
that she was raped by a man
who broke into their family
home.

The father then ran out of
the home and chased some-
one suspected of being the
rapist, finally apprehending
him with the help of neigh-
bours.

The incident reportedly
occurred at around lam on
Monday.

Chief Supt Miller said the
alleged attacker forced his
way into the Nassau Village
home through a window.

' At this time, there is no evi-
dence to suggest that the
teenage victim knew her
attacker, he said.

On Monday, a 28-year-old
resident of Lewis Street was
assisting the police with their

-investigations. aes





@ MEGAN REYNOLDS
Tribune Staff Reporter

AN “infrastructural crisis” at
Princess Margaret Hospital
(PMH) is driving an initiative
to transform the hospital’s oper-
ating theatres into the most

advanced surgical suites in the |

region, Minister of Health and
Social Development Dr Hubert
Minnis said.

Giving his contribution to the
2008/2009 Budget in the House

. of Assembly last week, Dr Min-

nis acknowledged that PMH is
suffering from overcrowding,
limited space for expansion,
outdated buildings, and diffi-
culty maintaing flow between
service areas.

The outdated and poorly
equipped operating theatre
suite at PMH must be urgently:
upgraded to treat the high vol-
ume of patients, many of whom
are denied their scheduled pro-
cedures because of limited
space and time, Dr Minnis said.

“This situation cannot be
allowed to continue,” he said. -

"My government is commit-
ted to ensuring the Bahamian
people receive the highest qual-
ity of care ayailable and to this
end, we seek to move, rapidly





Desmond Bannister j

it would require a major investment to
prepare the land, and also because the
location has several subterranean caves.”



Law school to be housed at ‘original site’

they did not
do in their
attempts to
seek photo
opportunities,
and now it has
been deter-
mined _ that
that location,
even if it is
purchased,
may not be
adequate for
the construc-
tion of the law
school because

added.

built. |

Hubert Minnis



to identify the options for
expanding the operating the-
atre capacity within this upcom-
ing budget year.

"We are confident that the
temporary location decided
upon will meet international
quality and safety standards as
we fully upgrade the operating
theatres into the most advanced
surgical suites.of the region."

The PMH will be upgraded
with part of the $176,140,170
proposed allocation for the Pub-
lic Hospitals Authority corpo-
rate office, Princess Margaret
Hospital, Sandilands Rehabili-
tation Centre and Grand
Bahama Health Services.

Pressure on services at PMH '

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The minister said that the current gov-
ernment determined that the “most prac-
ticable” decision is to move back to the
site where the previous FNM government
had planned to build the law school.

“And we have allocated $1,000,000 in
this Budget for site preparation,” he

“We have worked closely with the (law
school’s) principal to finalise the plans
for the construction of a building which we
anticipate will meet the needs of our law
students in the very near future.”

It is believed that the intended site may
not be far from the College of the
Bahamas, close to where the new Chi-
nese-funded stadium is expected to be







Plan to upgrade PMH
operating theatres

are intensified by the rising
number of dialysis patients,
despite the recent replacement
of dialysis machines with fund-
ing from the Tribune Media
Group, the Princess Margaret
Hospital Foundation and pri-
vate donors.

Dr Minnis said long-term
solutions for patients, such as
kidney transplants, must be con-
sidered, and a more aggressive
preventative approach will be
adopted to reduce the need for
dialysis.

"Due to the effects of these
services on the quality of life
and productivity of the patients,
and the costs to the health sys-
tem, it is imperative that we
adopt a multi-prong approach,"
he said.

Dr Minnis hopes an alternate
facility for dialysis patients will
be secured in New Providence.

A new comprehensive Can-

cer Care Centre at the former -

Bahai building in Shirley Street
will provide more. comfortable
care for oncology patients this
year.

The newly commissioned
building will also house a med-
ical library and classrooms for

the University: of ;WestIndies :i~

Clinical. Programmes ii 35

tM ESTRUS FRMy De ORENSARD



KEMP'S FUNERAL HOME LIMITED

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

a a a

Mrs. Anthea Merle Russell

















of Nassau, The
Bahamas and formerly
of Hope Town, Abaco,
The Bahamas who died
at home on 7th June,
2008, will be held at St
James Methodist
Church, Hope Town on
Monday, 16th June,
2008 at 4:00 p.m.



Mr. C. Vernon Malone ~
and Pastor Larry Russell will officiate.

Interment will follow in the Mid-Town Cemetery,
Hope Town.

























Mrs. Russell was pre-deceased by her husband,
George Russell, her mother, Merlee Kemp, her
father, Victor Kemp; a stepson, David Russell, a
brother, Pat Malone and a sister, Nellie Goffe; she
is survived by her son, Jack Russell; three
daughters, Betty Roberts, Victoria Sweeting and
Pamela Nutt; step-son, Basil Russell (and his wife
Juanita); grandsons, Stewart Roberts (and his
fiance Kelly Lippert), Brandon Sweeting, Clint
Russell, Jesse Nutt, Al Russell, Ritchie Russell
and Brian Russell; granddaughters, Misty Russell,
Brittany Sweeting, Mya Nutt, Myrtle Pinder and
Tanya Mosko; sons-in-law, Stephen Roberts,
Gerald Sweeting and Ted Nutt; daughter-in-law,
Lana Russell; brother-in-law, Terry Goffe; sister-
in-law, Louise Albury and many other relatives
and friends too numerous to mention.

Instead of flowers, donations may be made to The
Christian Counselling Centre, Collins Avenue,
P.O.Box SS 6106, Nassau, The Bahamas "Abaco
Fund", in memory of Mrs. Anthea M. Russell.

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



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PAGE 6, WEDNESDAY, JUNE 11, 2008

THE TRIBUNE



Students to attend US maritime leadership forum

Grants awarded to participate in summer programme

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

FREEPORT - Three Grand
Bahama students were awarded
grants to attend a maritime
leadership forum at the Sony



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Maritime College in New York
this summer.

Glender Knowles, pro-
gramme spokesperson, said a
total of 20 students from the
Bahamas were awarded grants








DER

to participate in the summer
programme, which will be held
from June 19 to June 26.

Cordero Mitchell, a senior
student at Jack Hayward High;
Moses Moxey Jr, a student at
Eight Mile Rock High, and
LaQuey Smith, a student at
Tabernacle Baptist Academy,
were selected from Grand
Bahama.

Mrs Knowles, who is a
licensed maritime captain, said
that the Bahamas is one of the
largest maritime countries in
the world, yet so few students
enter the field.

She said plans are underway
to establish a Maritime Cadet
Corp programme on the island
in January, 2009, to raise aware-
ness of the vast career opportu-
nities in the maritime industry.

According to Mrs Knowles,
students must have an interest
in the maritime field and must
achieve an academic grade
point average of 3.0.

They must also be very profi-










mittee.

their coaches.

event.

in Nassau Village.”

' MEMBERS of the Nassau Village
community came out in record num-
bers last weekend to support a bas-
ketball tournament hosted by the
Nassau Village Urban Renewal Live-
able Neighbourhood office, in part-
nership with the Villas Barber Shop
and the Nassau Village steering com-

The tournament saw basketball
skills displayed by four teams, each
comprised of 12 members, excluding

Among the scores of people
attending the tournament was Min-
ister of Education, Youth, Sports and
Culture Carl Bethel, who gave
remarks and officially opened the

Leo Douglas II, centre manager for
the Nassau Village Urban Renewal
Liveable Neighbourhood Pro-
gramme, said the tournament gave
some of the Nassau Village com-
munity vendors an economic boost.
The vendors were invited to be a
part of the event free of charge.
The tournament was described as a
“truly unifying event for the youth

cient in mathematics, physics,
and chemistry.

She said that the Maritime
Cadet Corp programme is going
well in Abaco, where high
school students are now study-
ing to be captains.

A cadet programme was also
established at the CR Walker
High School in New Provi-
dence.

The Maritime Cadet Corp
programme is instituted by the
Bahamas Maritime Authority,
which falls under the Ministry of
Maritime Affairs, to introduce
and prepare high school stu-
dents of grades 10 through 12
for employment in the maritime
industry.

The programme is sponsored
by the government and is con-
ducted in conjunction with the
Royal Bahamas Defence Force
and the Ministry of Education.

Mrs Knowles said that they
have visited several schools on
the island to make students
aware of the maritime grants

and scholarships that are avail-
able.

She said that eight scholar-
ships were awarded to Bahami-
an students by Holland College
out of Canada.

“We are one of the largest
maritime countries, but aware-
ness is limited. We have over
1,600 vessels registered in the
Bahamas with over 2,000 crew
members. And we only have
two. Bahamian Master
Mariners,” she said.

“And so therefore, we are
here bringing awareness and
looking for students to go out
and return back to us with mar-
itime experience and knowl-
edge.”

Mrs Knowles said the three
students were fortunate to be
selected for the summer mar-
itime programme, as only two
students in the US are selected
from each state to attend.

“The Bahamas was fortunate
in that 20 students were award-
ed grants, and three of those

students were chosen from
Grand Bahama.

Cordero Mitchell, a senior at
Jack Hayward High, said he
loves the water and also enjoys
going to the harbour and watch-
ing the boats as they dock.

“This summer grant will
enable me to allow me to follow
my dreams,” he said.

LaQuey Smith said she was
always fond of boats growing
up on the island of Abaco.
After moving to Freeport, she
became interested in becoming
a marine pilot.

Moses Moxey Jr, the grand-
son of the legendary Bonefish
Foley (Israel Rolle), said going
into the maritime field was a
natural choice for him.

“T live in the quaint fishing
settlement (in) West End and
I come from a family of fisher-
men, and I always wanted to
get involved in the maritime
field.

“J am honoured having
received this grant and proud
to represent my school and be a
great ambassador to my coun-
try,” he said.

Nassau Village have a ball!




























The Bahamas Telecommunications Company, Limited (BTC)

GOVERNMENT NOTICE



Come out and reconnect with your
Queen's College family at a night of
stellar entertainment.

joy performances by homegrown QC
talent! —

age, Fred Fergus

S
Single eton and more!

Friday, June 13 2008
The QC Auditorium
© 6:30pm

*20 admission

Hors d’oeuvres,
Mini avetion, Prizes

v



ison &



Invitation for-Proposals

The Bahamas Telecommunications Company Limited (BTC) is soliciting proposals
from qualified parties fo provide a “War Gaming Proposal”.

BIC is seeking to secure the services of a consultant or agency to analyze the opera-
tional and marketing performance and strategies of BIC with respect fo its mobile
market segment. The agency or consultant is expected to provide a proposal that
will introduce a “dummy” company by the name of Megacell into the marketplace
with the primary purpose of penetrating BIC’s mobile customer base.

Megacell will develop a full marketing and product roll out strategy to be imple-
mented in a virtual environment, If should include the following:

| © Launch plans and related collateral and activities

¢ Budgetary provisions for all marketing activities

¢ Marketing collateral geared fo specific and ongoing promotions, specials, and
other differéentiators

‘ “cere of goods and services, including seasonal pricings

¢ Sirategy for corporate sponsorship and corporate civic citizenship

¢ Wholesale and Retail Distribution strategy, including third party licensed retailers
and/or handset subsidies and pricings as may be applicable.

* Customer care strategies, including specific strategies for custorner acquisition
and retention

* Strategies{both formal and informal} for managing and influencing the regulatory
environment and for competitor and market intelligence gathering

Interested parties may obtain further information, including eligibility fo participate
as of May 26, 2008 from the BIC Marketing Department, Bay Street, Nassau, Baha-
mas.

_ Any queries should be directed fo Eldri Ferguson, eferguson@bicbahamas.com ,

242-302-7540.

| Please respond to this RFP by no later than July 8, 2008 addressed to:

Mr. Kirk Griffin

Executive Vice President

The Bahamas Telecommunications Company Limited
P, O, Box N-3048

John F. Kennedy Drive

Nassau, Bahamas

Proposals will be opened 12 Noon, July 11, 2008, BIC Marketing Office, Bay Street.

BIC reserves the nght to reject any or all proposals.





THE TRIBUNE

VWEUNESUVAY, JUNE 11, 2UU8, PAGE /



IN an effort to discover talented singers from across the
Bahamas, the Kingdom Glory Records label of the Mount
Tabor Full Gospel Baptist Church is launching a summer
music competition themed, “Ride the Wave 2008.”

Praise and worship teams from across the Bahamas are
invited to come together and compete for the grand prize of a
contract to record a single produced and released by KGR, in
addition to cash prizes. The competition will feature two elim-
ination rounds. The first 20 teams to sign up will take part in
round one to demonstrate their singing talent, creativity and

performance skills.

Nehemiah Hield, managing director of KGR said: “We
would now like to reach out and touch praise and worship
teams all across our Bahamaland so that they, too, can go
where they have never been before musically.”

Participating teams will be required to sing a feature song
from the Mount Tabor praise and worship project, “Wave of
Glory” in addition to a selection of their choice from the CD.

Teams will be judged on the following areas: Tone, tech-
nique, diction, phrasing, interpretation, musical effect, inten-
sity and projection, ministerial effect, level of difficulty, and

stage presentation.

Nadine Moss, praise and worship director said there are
many gifted gospel singers in the Bahamas, but they remain
relatively unknown to the wider public. :

“KGR desires to bring Bahamian singers and musicians
from within the borders of their churches to the forefront.

“TI believe that there are a whole lot of skilled singers who

we do not know,” she said.

Applications for registration are available at Kingdom Glo-
ry Records and at the Word Bookstore.

Competition rounds will be held on July 2 and July 16 at ‘the
Rainforest Theatre in the Wyndham Nassau Resort.

The finale is scheduled for August 3.



Radio personality Darold Miller
expected back in court today

POPULAR radio personali-
ty Darold Miller is expected
back in court today as his sexu-
al harassment trial continues.

Last month Magistrate Renee
McKay ruled that the prosecu-
tion had made a "sufficient"
case against him for the matter
to continue.

In her ruling on a "no case
submission", Magistrate McKay
said that Mr Miller did have a

SAVE

Arawak Cay}








Available at:

sss Company



© 2008 AT. Ore

CTOSS HIS PATH



case to answer, meaning that he
will have to lead a defense
against the sexual harassment
charge.

Mr Miller is expected to give

_ testimony today.
It is alleged that between

February 2 and March 22, 2007,
Mr Miller, while holding a posi-
tion of authority over the
female complainant, impor-
tuned her for sexual favours
under the promise of her bene-
fiting while employed at GEMS
105.9 FM radio station.

Miller’s trial began on Janu-
ary 4 with the virtual com-
plainant in the case giving
graphic details of alleged sex
acts which she claimed were
forced upon her.

CIRO. SS,

LOCAL NEWS

PLP MP Melanie Griffin

has accused the FNM of “pla-,

giarism” over a plan to bring
relief to Bahamians in emer-
gency situations.

According to Mrs Griffin,
the former minister of social
services, although the FNM
call it a “new programme”,
the policy of opening emer-
gency relief desks was actual-
ly proposed by a member of
her party several years ago.

“T can only hope that there
is no effort here to mislead
the. public and members of

this honourable place,” she
told parliament.
Mr Griffin quoted news arti-

cles from 1991, which showed

that the late George Mackey,
former PLP MP for Fox Hill,
opened a Family Relief Desk
to give temporary assistance
to unemployed persons in
response to the difficult eco-
nomic situation at the time.
Mr Mackey said the desk
would provide assistance, sup-
port and advice to those who
are facing “genuine hardship”
and cannot provide for their

Govt accused of plagiarism

PLP MP hits out over plan to bring
relief to Bahamians in emergencies



~ ON THE ATTACK: PLP MP Melanie Griffin

dependents. Mrs Griffin point-
ed out that during her time as
minister, she also opened a
number of emergency relief
desks, particularly in the after-



math of hurricanes. “I was
quite surprised therefore to
hear it was some ‘new pro-
gramme’ by the department,”
she said.

Mrs Griffin said the matter
is “a very serious thing” — as
persons have lost their jobs
over plagiarism in the
Bahamas in the past.

She also criticised Prime
Minister Hubert Ingraham’s
statement that his govern-
ment’s decision to increase
funding for the Ministry of
Social services will allow for
“meaningful increases” in
relief for the poor.

She said: “While I think we
would all agree that every lit-
tle bit helps, I think it is fair to
say, based on my understand-
ing of the draft estimates, that

the increases are not ‘mean-.

ingful’ at all. “ In fact when
you consider the economic cri-
sis, as it relates to the value
of money, what we purchased
for $100 yesterday, we are
now buying for $125.”

Work on China-funded sports stadium
should begin this year, says Ingraham

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

Construction of the Chinese
government-funded sports sta-
dium should begin this year,
Prime Minister Hubert Ingra-
ham said yesterday.

According to the former PLP
governiment, the stadium was
originally supposed to be com-

pleted by early 2007, after adeal -

was signed with China in 2004.

Minister of State for Youth
and Sports Byron Woodside
told The Tribune in March of
this year that a “full report” on
the status of the plans to con-
struct the multi-purpose sports
centre would “shortly” be forth-

_ coming.

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Hubert Ingraham

This followed statements in

January, in which he suggested
that construction would begin’

“within the ensuing weeks.”

Sports enthusiasts have been. -:

Lf!
Cole Urs.

SLrvown

é 443
7 The

at a disadvantage for almost two
years since two other sports
venues — the Andre Rogers

baseball stadium and the

Churchill Tener Knowles
National Softball Stadium —
were demolished to create
space for the new facility.

Questioned yesterday about
whether the foreign-funded pro-
ject was still set to materialise,
Mr Ingraham confirmed that
this is the case, however he said
that he could not provide a
“comprehensive report” on the
matter and directed The Tri-
bune to speak with Mr Wood-
side.

Asked if construction would
get underway this year, Mr

Ingraham said: “I expect so,

yes.”

Geniwtne

Ground was officially broken
on the site of the venue during a
ceremony on Independence
Day in July, 2006.

Then prime minister Perry

Christie said at the time that:

the move “symbolised the com-
mencement of the construction
of the stadium” while then
housing and sports minister
Neville Wisdom said that pro-
ject was “right on track.”

To date, however, the
groundbreaking remains large-
ly symbolic, with little explana-
tion of the delay having been
offered.

The Tribune attempted to
reach Mr Woodside yesterday,

--but.was unsuccessful.

Tennis Center

Ph: 323-1817 -

East St



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PAGE 8, WEDNESDAY, JUNE 11, 2008

THE TRIBUNE



Bahamian land planning
and development challenges

"Anchor projects are so out of
favour today that if the govern-
ment sees those words in a pro-
posal their first inclination is to
throw the document away."

— anonymous source.

"To plan is one thing, to grow
(or not grow): according to plan
is quite another."

— Dr Xavier Briggs.

D R XAVIER DE
SOUZA BRIGGS is
our latest planning guru. He fol-
lows Canadian Malcolm Martini,
(planning consultant to former
prime minister Perry Christie),
who followed EDAW (a Cali-
fornia-based design firm that
came up with the Nassau rede-
velopment plan now gathering
dust on official shelves).

Briggs has strong Bahamian
ties. A former Clinton adminis-
tration official in the Depart-
ment of Housing, his mother,
Annie, is the daughter of
William (Willie) Norman Aran-
ha, Nassau's crown lands officer
during the 1940s, and his father
was an out island doctor, Dr
Nevis Briggs. His uncle is Paul

Aranha, the retired airline pilot.
“JT was raised in Nassau and
Miami, and my family's public
service ties to the development
of the Bahamas go back five
generations," Briggs told Tough
Call recently. "I have worked on
quite a range of the issues facing
the Bahamas, mainly in the US
but also in Brazil, India, South
Africa, and Central America."
These assignments combine
complex issues, multiple stake-
holders, uncertainty about the
future, and the need to act — in
other words, they were just the
right kind of rehearsals for ,his
new Bahamas project. But how
did this project come about?
Well, in his role as associate
professor of urban planning at
the Massachusetts Institute of
Technology in Boston, Briggs
was faculty adviser to a Bahami-



an grad student named Nakeis-
chea Loi Smith, who last year
wrote a thesis on Bahamian land
planning and development
issues. ;

Smith's research focused on
the social and environmental
challenges associated with so-
called "anchor projects" — the
development of big residential
resorts on major out islands that
has been promoted by FNM and
PLP governments over the past
15 years, but which recently
came to be identified with the
administration of former prime
minister Perry Christie.

She argued that the lack ofa
land use framework, poor envi-
ronmental controls, perceived
favouritism towards foreigners
and the exclusion of locals from
decision-making had led to pop-
ular resentment and spawned

e

unpleasant disputes with devel-
opers and the government.

This was especially so, Smith
said, where "such policies are
seemingly threatening to make
housing unaffordable, over-
whelm small island cultures with
newcomer needs, privatise cher-
ished community commons and
generate conflicts over labour
shortages."

According to Professor Brig-
gs, "Smith's decision to focus her
thesis on land development, and
her careful effort to follow up
on a few instincts I shared with
her as starting points, blossomed
into a specific concept: to make
sure Bahamian communities,
their elected leaders, the media,
and business and other stake-
holders have access to the very
best thinking, worldwide, on
how to tackle (these) chal-
lenges."

The challenges were thrown
into sharp relief this past week-
end when Prime Minister
Hubert Ingraham and Works
Minister Earl Deveaux led an
official delegation to Cat Island
to discuss a 1,900-acre, $200 mil-
lion residential resort at Fine
Bay. This project will incorpo-

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rate all the familiar features —
condos, town houses, estate
homes, hotel/casino and golf
course — and it generated mixed
reactions from the locals.

Colin Higgs, permanent sec-
retary at the Ministry of Works,
says the government's approach
is not to approve any foreign
investment proposal that may
significantly impact Bahamian
communities without prior con-
sultation with residents and oth-
er stakeholders. But the previous
government said much the same
thing and still had to engage in
an endless dogfight with the
Save Guana Cay folks.

By most accounts, there is
overwhelming support for the

_Cat Island Golf and Beach

Resort, which will create almost
a thousand jobs and does not

- involve the transfer of any

Crown land. But Sammy
Thurston, who runs a small inn
at Bennett's Harbour, remains
convinced that such a large-scale
development will destroy Cat
Island's unique lifestyle.

"We are creating small cities
on every island," he was report-
ed to have told the assembled

officials and bigwigs. "That is .

not good. We are soon going to
put ourselves in one box as a
tourist product. I should be say-
ing 'yes' because I will: make
money from this development.
But I am saying 'no, no, no'
because we need to step back
and think about what we are
doing."

His comment was an apt crit-
icism of the so-called anchor
project policy and the conse-
quences such large-scale projects
can have for small underdevel-
oped communities.

Truthfully, the anchor pro-
ject policy is a matter of oppor-
tunity more than design. The ris-
ing demand for second homes
among American baby boomers
(the wealthiest generation in the
history of the world); combined
with a scarcity of affordable
waterfront property in the US
has turned our sparsely popu-
lated out islands into an irre-
sistible investment magnet.

But the lack of planning and
forethought has left local com-
munities facing development
pressures ranging from the
unmanaged influx of thousands
of poor migrant workers and
high-income foreign homeown-
ers; skyrocketing real estate
prices and associated mortgage
costs for Bahamians, traffic con-
gestion and fewer recreational
options in Nassau, and more.

The title of Loi Smith's thesis
— "Whose Land is it Anyway?
An analysis of the Management
and Distribution of Crown Land

in the Bahamas" — gives voice |

to these concerns. And it con-
cludes with a call for a national
development plan supported by
improved inter-agency collabo-
ration, clarification of land

. tenures and stronger environ-

mental regulations.
Smith was hired by the gov-

ernment last spring. She joined

land mapping analyst Daniele

‘Hanek in a small planning unit

set up by Malcolm Martini, the
Canadian consultant who retired
shortly after the May 2 general
election. When Earl Deveaux
assumed responsibility for the
government's planning functions
under the new administration,
he initiated the MIT partnership
with Briggs.

"I wanted to establish a
process whereby Bahamians
were linked with credible insti-
tutions so we could build long-
term capacity," Deveaux told
me. "Martini wanted to doa
plan for Abaco, using Smith and
Hanek. And I asked why they
could not lead. such a process
themselves, with our support. It
appeared to be a win-win strate-

gy to save money and develop’

key linkages with two of Amer-

ica's great learning institutions.

— Harvard and MIT."

Although Harvard is not a
signatory to the Bahamas part-
nership, it may contribute fac-
ulty, students and other help as
part of the overall initiative.
Briggs is both a graduate, and a
former faculty member of Har-
vard's Kennedy School of Gov-
ernment.

The focus of the partnership
will be on planning goals and
strategies, but it will also encom-
pass ways to make those ideas
real, Briggs says. That includes
working with the College of the
Bahamas to expand the number
of Bahamians trained in plan-
ning; and "ensuring that public
officials are planning collabora-
tively with the public and with
private and not-for-profit organ-

Ud
EXTERMINATORS

FOR PEST PROBLEMS
PHONE: 322-2157



isations."

And all of this must be under-
pinned with comprehensive geo-
graphic and market databases,
an up-to-date digital land reg-
istry and technical support for
sustainable development legis-
lation and policies in areas like
transport, housing and town
planning.

"Minister Deveaux has clear-
ly expressed to me his under-
standing of the opportunity
question," Briggs said. "If we
have the will and assemble the
resources to do some bold things
that are required — how will we
know we're applying that will
most productively? That's what
this partnership is all about."

Although a work plan has yet
to be fleshed out, one of the first
activities will be a field study
that engages MIT students in
producing a model development
framework for Abaco, which is
on the cusp of a major transfor-
mation and is seen by most
experts as in need of urgent
attention. This study will identi-
fy sustainable goals and outline
the kinds of decisions, technolo-
gies, and investments that will
be needed to achieve them.

"The partnership will also
include consultation, by me and
my colleagues, on planning sup-
port systems and planning edu-
cation," Briggs explained. "As
well as more Nassau-specific
opportunities, such as downtown
redevelopment planning."

Briggs will be in Nassau next
week for meetings with the
prime minister and other senior
officials. He and Dr Michael
Flaxman, will give a presenta-
tion on sustainable development
to the Bahamas Historical Soci-
ety on June 16. Whereas Briggs
has a background in sociology
and engineering, Flaxman spe-
cialises in modelling sustainable
futures.

The Bahamas is in a fortu-
nate position with respect to
developmient planning because
70 per cent of our land — some
3.5 million acres — is controlled

. by.the government. Neverthe-

less, as Smith points out,

. Bahamians are increasingly fed

up with the government's mis-
management of Crown land
resources.

"I myself had watched as real
estate prices began to increase
beyond reach and I witnessed
the disappearance of many

‘beach and coastline areas to

which I had had access to since
childhood. Furthermore, the
amount of available Crown land

-was steadily declining, and it

seemed Bahamians had little to
show for it. Land for develop-
ment projects was being granted
in an ad hoc manner with little
or no prior consultation with the
Bahamian public.

"The (idea) for this thesis
evolved when I began to con-
template the implications of this
development model for my own
future."

She attributes the problem to
the complex, and often informal,
systems of land tenure that have:
evolved since Loyalist days, the
unreliability of land records, the
lack of national planning, and
the absence of laws and regula-
tions to properly manage our
land and marine resources.

A master plan for national
development is our most press-
ing need, she says. Policies tai-
lored to each island that would
cover zoning regulations, popu-
lation densities, immigration and
infrastructure needs, affordable
housing, coastal access and envi-
ronmental set asides.

On CNN this past Sunday,
former secretary of state Henry
Kissinger was asked what advice
he would give the next president
of the United States. His
answer? He should consider the
kind of world he wants to see in
four years — in detail.

In other words, we should not
rely on tactical decisions to guide
our way to the future. There
must be some overarching view
of what we want to achieve and
what needs to be done to get
there.

This is what we must do in the
Bahamas, because decisions that
are made in a vacuum, without
due care and attention, may not
benefit us in the long run.

And according to Loi Smith,
this was the conclusion reached
by almost all those she inter-
viewed for her thesis — from
government officials to business
people, developers and environ-
mental activists.

"After centuries of misman-
agement, now is a critical point
to take a step back and evalu-
ate long-range goals of where
the country should like to be 10,
20 or 30 years from today."

What do you think?
Send comments to
larry@tribunemedia.net
Or visit
www.bahamapundit.com



THE TRIBUNE






MY LTT
more students
for healthcare

@ By MEGAN REYNOLDS



Tribune Staff Reporter

A SHORTAGE of health-
care professionals has become
one of the greatest deficien-
cies of the public health sec-
tor, and the government is
addressing the issue by train-
ing more students.

The low number of health-
care workers, including labo-

ratory technicians, physiother- ;

apists and other allied health
professionals, will be boosted
by enabling more Bahamians
to study basic nursing and
pharmacology at university
level, hopes Minister of
Health and Social Develop-
ment Hubert Minnis.

With Government support,
the College of the Bahamas
(COB) plans to introduce it’s
first Bachelor of Pharmacy

degree in September in collab-

oration with the University of
Technology in Jamaica. Stu-
dents will study the first two
years at COB and the second
two years in Jamaica.

Dr Minnis said: “I am
pleased to report that a full
cohort of students has been
identified for the first class
commencing in the Fall
semester 2008.

“Again this is a classic
example as to what could be
achieved through multisec-
toral co-operation.”

Recruiting, training and

retaining nurses is another top :

priority, and the government

is supporting 148 student nurs-

es at the College of the
Bahamas so they might meet
demands on public health.

In addition to funding basic
nurse training, the Ministry is
supporting further training in
psychiatric nursing at the Col-
lege of the Bahamas, and .
Emergency Care Nursing in
Jamaica.

Eight people from the gov-
ernment health sector are also
being trained as preceptors to
oversee practical aspects of ©
the nursing education pro-
grammes.

Dr Minnis said: “This is crit-

ical to ensuring that the
unprecedented numbers of

nursing.interns receive highest :
quality of professional instruc-_ ;

tion and practical skill train-«
ing.”

The ministry has also estab-
lished a National Allied
Health Cadet Programme
with the Public Hospitals
Authority for tenth grade stu-
dents to get a hands-on intro-
duction to the healthcare pro-
fession. It attracted 37 stu-
dents last year, and has 28
enrolled for the next school
year.




LOCAL NEWS

‘No evidence of
asbestos’ in the

Hansard building

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

TESTS have revealed that
there is no evidence of
asbestos in the Hansard build-
ing, where senior justice Ani-
ta Allen’s court and the
Speaker of the House’s office
is located.

Minister of State for Legal
Affairs Desmond Bannister
said that tests carried out by
“competent and qualified
experts” led to this conclusion.

However, the building is still
deemed to be suffering from
“structural inadequacies”, and
a suitable replacement for the
court will have to be found,
he said.

Tests were conducted sey-
eral weeks ago after investi-
gations by the Ministry of
Works of these structural defi-
ciencies resulted in inspectors
finding a white substance
which sparked concern that
asbestos might be in the build-
ing.

Materials

Asbestos is the name given
to a number of naturally
occurring fibrous materials
which were used in various
manufactured goods:in the
past but if breathed in present
a potential health risk. Sever-
al illnesses can result, includ-
ing lung cancer or another
more rare form of cancer
known as mesothelioma.

- Continuing his contribution
to the budget debate in the
House of Assembly on Mon-
day, Mr Bannister spoke of
the various capital commit-
ments made in the budget
which will go towards the
improvement of the judicial
facilities.

These include $1 million
towards the construction of
the Judicial Complex, and $1:5
million towards the construc-
tion of facilities to house the
Office of the Registrar Gen-
eral. ‘

Mr Bannister said that for
many years the Registrar Gen-
eral Department has not been
given “sufficient attention or
resources” despite the “major



Desmond SEMIS Ch

role it plays in raising millions
of dollars of revenue each
year.”

He said: “This past year the
abandonment of the’Registrar
General Department has
come to an end!”

This year’s budget will allow
the main Registrar General’s
office to recruit “desperately
needed and suitably qualified
staff” and upgrade the man-
ner in which they provide their
services. Various functions will
soon be automated and
“paperless”.

Since January, more than
12,000 records of births,
deaths and marriages have

been entered by a data entry .

team into an electronic data-
base and it is hoped that
eventually all records
would be electronically acces-
sible.

Likewise, digitisation of the
department’s microfilm library
wil soon occur making elec-

tronic searches of all deeds -

and documents possible.

This follows a 13 month
period between 2004 and 2005
when no such documents were
recorded in the department,
“creating a logistical night-
mare” which caused great con-
cern in the legal and financial
communities, and which staff
are still now seeking to
catch up with, noted Mr Ban-
nister.

OPPORTUNITY

Busy, progressive Dermatology Practice, Medical Spa and

Skin Care Boutique with fun working environment requires
a Qualified Nurse and an Administrative Assistant.

Excellent salary and opportunity for advancement.

Applicants must have a warm, outgoing personality,

exceptional standards of patient care, be able to function

comfortably in a fast-paced environment and _ possess

excellent organizational ability.

Working knowledge of computers is required.

Please mail or email resume to:

Attn. Business Manager, The Skin Centre
Harbour Bay Plaza, P. O. Box N-1081, Nassau, Bahamas

Email. info@theskincentre.com

, Tae BAHAMAS _



WEDNESDAY, JUNE 11, 2008, PAGE 9

& Scotiabank’

Scotiabank (Bahamas) Ltd. is seeking the services of:

Centre Director, Scotia Private Client Group

POSITION SUMMARY:

| The Centre Director is responsible for establishing business plans for the Scotia
Private Client Group (SPCG) Centre in which they reside, and the branches in

smaller, secondary markets also under their direction, and executing them through
the dynamic leadership of teams of highly skilled professionals representing each
of the Wealth Management business lines (private banking, brokerage, and where
applicable, personal trust, investment management). These objectives will be met
through the promotion of the SPCG Centres in the marketplace and, internally
throughout the Bank.

Qualifications:

University undergraduate and/or equivalent degree/experience preferred;
Knowledge of client life cycle needs/client segmentation/market analysis/
current economic and political events;

Knowledge of investment products and services, particularly as they relate
to the High Net Worth clients; this includes features, benefits, pricing
policies and profitability levers; \

Knowledge of Microsoft Office Word and Microsoft Office Excel;
‘Knowledge of the legal, regulatory, compliance, and audit requirements;
Effective communication skills;

- Some travel required:
Scotiabank offers a highly competitive compensation and benefits package
with tremendous opportunities for personal and professional growth.

Qualified candidates only should submit application in writing, marked Private
and Confidential, by Friday, June 20, 2008 to: Manager, Manpower & Succession |
Planning, Scotiabank (Bahamas) Ltd., Main Branch, P.O. Box N-7518, Nassau,
Bahamas ore-mail ionie.diggiss@scotiabank.com.

Join the leading Conservation
Organization in the Country

Position #1:

Position Summary:

Project Site Manager
Serve as site manager to oversee all aspects of the two year
project with potential for renewal beyond two year period.

Location: Eleuthera

Duties: :
Conduct regular meeting with management, contractors, construction team
and all key persons involved in project.

Organize ordering of materials and arrange for transport

Ensures the project runs to schedule and to budget, and find solutions to
problems that may cause delays.

Conduct routine inspections of work quality

Conduct regular safety checks

Prepare monthly/quarterly progress reports for management

Skills Required
Local knowledge of Eleuthera _
Knowledge and familiarity of light (heavy) equipment
Experience with supervision of construction teams
Administrative skills
Carpentry, plumbing, electrical a plus .
Attendance of meetings/workshops outside of normal work hours will be
required
Frequent travel and over-night in Nassau

Proficiency in the use of Word, Excel, PowerPoint, Email and Internet

Position #2 General Custodian

Position Summary: _‘ Provide general assistance to project and performs various
labour duties in the building ee and performs regular
maintenance.

Duties

eo: Grass and hedge cutting

° Planting, pruning, and shrub work

e Brush cutting and trail clearing

Skills Required

° ability to lift minimum of 70 pounds

° ability to work outside in (at times extreme) all weather conditions
° ability to work with basic gardening tools

° knowledge of Bahamian plants a plus

*Preference will be given to Eleuthera residents as housing will not be provided.
Working hours: 7 am — 3pm (1 hour lunch)

Interested persons qualified in the above positions should provide a cover letter,
_resume and three references by June 16 2008, to: Human Resources Manager,
Bahamas National Trust, P.O. Box N-4105, Nassau, Bahamas, or Email: bnt@bnt.bs





ee eee

PAGE 10, WEDNESDAY, JUNE 11, 2008








































































































































| WEDNESDAY EVENING JUNE 11, 2008
7:30 8:00 10:30
NETWORK CHANNELS
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~_|6:45) [ee G (2002, Drama) Richard T. Jones, Blair Under- |(:45) & & THE GROOMSMEN (2006, Comedy) Ed-

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(2005) ‘R now married. ( ‘R (CC) to celebrate a man’s wedding. 1 ‘R’ (CC)







THE TRIBUNE

Let Charlie the
Bahamian Puppet and
his sidekick Derek put

some smiles on your

kids’s faces.

Bring your children to the
McHappy Hour at McDonald's in
Palmdale every Thursday
from 3:30pm to 4:30pm during the
month of une 2008,

Enjoy Great Food, Prizes and Lots of Fun.

{T\

i'm lovin’ it





pe" PRE

eraeensan

avec

see <2

21 Ep bP TE

nO:

pene ae

Oe a ERIS



THE TRIBUNE

WEDNESDAY, JUNE 11, 2008, PAGE 11



LOCAL NEWS

Man questioned in connection

with murder is released

FROM page one

Doubt has been expressed by some persons
in the community that these crimes will be
solved as they all involve gay men.

A culture of extreme homophobia in the
Bahamas makes it risky for any homosexual
who may have information about these mur-
ders to come forward.

Chief Supt Miller, however, said he is confi-
dent that the murders will be solved as there
are teams of officers working on these mat-
ters.

Mr Wilson was last week stabbed to death
with a sword or large dagger at his apartment
on Rusty Bethel Avenue.

He is believed to be the fourth gay man to be
killed within a six-month period. His death has
sparked fears of a “gay serial killer.”

Application made in Supreme Court for judicial
review of officials in local government elections

FROM page one

ernment eliminated polling divi-
sions and changed the number
of persons who can be elected
to those polling divisions with-

out notice, contrary to the pro-
visions of the Parliamentary
Elections Act and the Local
Government Act.

The application before the
Supreme Court was made yes-
terday in the name of voters in

the relevant districts, who feel
aggrieved by the matter.

The applicants were
represented by lawyer Glenys
Hanna Martin, who is also
chairman of the Progressive
Liberal Party.

Case of pair accused of aiding prisoner’s escape adjourned

FROM page one

Maycock Sr, 41, who is wanted in-the US to

tion. Lewis and Maycock Jr, the son of the
escapee, have both pleaded not guilty to the
charge and are currently on $20,000 bail. Maycock

answer charges that he is the mastermind behind
a major cocaine and marijuana smuggling ring, is
also being sought in connection with a $1.2 million
drug seizure in a West Bay Street apartment last

Jr is also wanted in the US to face drug charges.

Officials:

month.

Sudanese >

plane crash kills dozens

i KHARTOUM, Sudan

A SUDANESE Airbus car-
rying 214 people veered off the
runway in a thunderstorm and
burst into flames late Tuesday,
killing dozens unable to escape
the inferno. Officials said more
than 100 people fled the plane
before it was engulfed by tow-
ering orange flames, according
to Associated Press.

The Civil Aviation Authority
_ confirmed that 103 passengers
and all 11 crew members sur-
vived. But it said some other
passengers may have gone
home directly from the crash
on the rain-soaked runway after
crew members helped them
through the emergency doors.

The death toll wasn’t imme-
diately clear. Reports right after
the crash said about 100 were
killed, but officials later put the
toll at dozens without being
more precise. Deputy parlia-
ment speaker Mohammed al-
Hassan al-Ameen said “about
30 people” died, while police
spokesman Mohammed Abdel
Majid al-Tayeb said 23 bodies
were brought to the morgue.

The fire’s roaring flames
dwarfed the Airbus A310’s
shattered fuselage as firefighters
,sprayed water with little appar-
ent effect, Sudanese TV footage
showed. Media were kept away
but an Associated Press
reporter heard several explo-
sions after flames engulfed the
aircraft.

A survivor speaking at the
airport to Sudanese TV said the
landing was “rough,” and there
was a sharp impact several min-
utes later.

“The right wing was on fire,”
said the passenger, who did not
give his name. He said smoke
got into the cockpit and some
people started opening the
emergency exits. Soon, fire
engulfed the plane, he said.

A sandstorm had hit the area
with 20 mph winds between 2
p.m. and 3 p.m. and there was a
thunderstorm and similar winds
at the time of the crash around
9 p.m., said Elaine Yang, a

meterologist with the San Fran-
cisco-based Weather Under-
ground, a private weather ser-
vice.

The Sudanese ambassador to

Washington called the weather
“very bad” and said the runway
had been drenched by rain.
' “There was a lot of water on
the runway and they still tried
to land,” Ambassador John
Ukec Lueth Ukec said.

The head of Sudanese police,
Mohammad Najib, said bad
weather “caused the plane to
crash land, split into two and
catch fire.” There were few non-
Sudanese aboard, officials said.

The Associated Press

’ reporter at the scene said the

plane appeared to have left the
runway as it landed at Khar-
toum International Airport.
Ibrahim, the airport director,
told Sudanese TV that the plane
“landed safely” in Khartoum

_ and the pilot was talking to the

control tower and getting fur-
ther instructions when the acci-
dent occurred.

“One of the (plane’s) engines
exploded and the plane caught
fire,” Ibrahim said. He said bad

‘weather did not cause the crash,

which he blamed on a techni-
cal problem.

Raqeeb Abdel-Latif, head of
the Sudan Airways office in
Damascus, Syria, said the plane,
which joined the Sudanese
national carrier seven months
ago, took off from Damascus
and stopped in Amman, where
34 additional passengers came
on board.

Due to inclement weather,
the aircraft stopped at Port
Sudan Airport along the Red
Sea, picking up 35 passengers
and refueling before heading
back to Khartoum, the
Sudanese ambassador said in
Washington.

Spokesmen for the Federal
Aviation Administration and
the National Transportation
Safety Board in Washington
said they were monitoring the
situation. The Khartoum air-
port was shut down until
Wednesday morning, officials

said.

Sudan has a poor aviation
safety record. In May, a plane
crash in a remote area of south-
ern Sudan killed 24 people,
including key members of the
southern Sudanese government.

The Airbus A310 is a twin-
engine, widebody plane used by
a number of carriers around the
world. Typically configured with
about 220 seats, it is a shorter
version of the popular A300.

An Airbus spokesman in
Paris declined immediate com-
ment on the crash.

In July 2006, an A310 oper-
ated by Russia’s S7 Airlines
went off the runway after land-
ing in Irkutsk, smashed into
adjacent buildings and caught
fire, killing 123 of the 203 peo-
ple aboard.

Although deaths from air
travel have fallen over the past
two years, the number of seri-
ous jetliner accidents increased
last year for the first time in a
decade, according to a report
last month by the International
Air Transport Association.
Nearly half of all jet accidents
occurred on landing in 2007.

In 1997, then-President Clin-
ton issued an executive order
barring the export of goods and
technology to Sudan because of
the country’s “support for inter-
national terrorism, ongoing
efforts to destabilize neighbor-
ing governments, and the preva-
lence of human rights viola-
tions.”

The United States maintains
a broad array of sanctions on
Sudan that bar the export of
most goods, services and tech-
nology, including advanced nav-
igation systems,

In July 2003, a Sudan
Airways Boeing 737 en
route from Port Sudan to Khar-
toum crashed soon after take-

. off, killing all 115 people on

board.

After that crash, Sudanese
officials blamed sanctions for
restricting vital aircraft parts.
The U.S. State Department said
there was no ban on equipment
needed for aviation safety.

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>







TULUM Econ ash mole

‘Brothel being run’
on West Bay Street

FROM page one

cleaned up this beach (Western Esplanade) from

‘i purse-snatching and people having sex on the

: beach, and people robbing people.

: “This was the place where homosexuals would
: be on the beach in the night and wait for men.
i This was the gay zone in the back here, where

'} boys were coming to have sex with men in the

: back here, and.we had to break up all of that.

: “So what happens now is that sometime dur-
: ing the night they realise that this place over
: here (the abandoned Mayfair Hotel) is some-
: what private and they were able to migrate into
: this area and ‘hang out’,” ASP Sands said.

: Reportedly, most of the Jamaican women
: used in this brothel are in the Bahamas on four





: i ;
iv
YOUR! CONNECTIO. O THE WORLD

VACANCY



to six week intervals, and earning at least $75 a
time for their “expertise.”

Thanks to their Bahamian “pimps”, ASP
Sands said, these women have also become
“mobile”.

“They now rent SDs (self-drive cars) and go
from hotel to hotel, or parade up and down Bay
Street and then bring their clients back to the
hotel,” he said.

On Monday night one of the brothel’s
“patrons” had to be admitted to Princess Mar-
garet Hospital after acid was thrown in his face
while he was with one of the Jamaican women,
Mr Sands said.

“Someone is going to get killed in there soon.
That is where this is heading. We have to get our
hands around this,” he said.



Senior Associate/Database eae Cr




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5 years experience with AIX, OS 40
Strong leadership ability






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HUMAN RESOURCES & ADMINISTRATION

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NASSAU, THE BAHAMAS

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procedures. This position interfaces

for early detection and notification of



PAGE 12, WEDNESDAY, JUNE 11, 2008

LOCAL NEWS

THE TRIBUNE



Father with custody ©
summoned to court
alter TV appearance —

i By MEGAN REYNOLDS
Tribune Staff Reporter

A FATHER who has custody of his children was summoned
to the Supreme Court for discussing parenthood as a single
father on television while going through divorce proceedings.

The father of three became the primary care giver for his chil-
dren after he separated from his wife and a judge granted an
interim custody order in his favour nine months ago.

The local television show aired last year highlighted the
unusual case of a Bahamian. man being the primary care giver
for three daughters who are all honour roll students at school.

The father said: “Basically I was the main breadwinner and
caretaker of those children from when they were born.

“They have been raised properly. They know right from
wrong and to just follow the Lord Jesus.

‘They are good girls, they don’t give me any problems and I
am proud of them.”

However, the caring father was warned by the Supreme
Court last month that his appearance’ on television was in
breach of the Contempt of Court Act as it could interfere with
the course of justice in divorce proceedings now before the
court.

The Contempt of Court Act prohibits the publication of
material which might prejudice a ‘fair trial by influencing the
minds of the jury.

In the Supreme Court hearing last month, the father’s lawyer
presented evidence to show that the mother had repeatedly vio-
lated all three of the interim orders for the maintenance and
welfare of their girls.

However, the father claims the immediate welfare of his
children was not discussed; he was only told to apologise for his
appearance on television, and before the court was dismissed the
judge encouraged the couple to get a divorce.

The father of three said: “I understand from the judge that —

speaking to the media is considered contempt of court and a
prisonable offence.

“T love my family dearly, however, I love the Lord Jesus
Christ and his gifts of righteousness, truth and free will even
more

“ Therefore I accept whatever punishment is given to me by
the judicial system of the Commonwealth of the Bahamas.

“Tf this means giving up my girls my wife can Pick them up
from our home. I await my fate from the courts.”

Share your news

| The Tribune wants to hear
| from people who are
| making news in their
} neighbourhoods. Perhaps -

| you are raising funds for a
good cause, campaigning
| for improvements in the
area or have won an
} award. .
If so, call us on 322-1986
) and share your story. ©







Justice system ‘on
brink of collapse’

FROM page one

thousand murders, and that doesn't
include attempted killings or causing
grievous harm.

“Our murder rate is higher than
the US and three times higher than
Canada. ;

"We have intercepted arms ship-
ments for the Bahamas that included
assault weapons, grenades and explo-
sives, and we could soon see the
spread of kidnappings here like they
have in Trinidad or terrorist actions
like they have in Jamaica."

He added that there were already
areas on New Providence like Nas-
sau Village where police had to go
in large numbers of 30 or more offi-
cers if they wanted to make an arrest.

"We have to control it on New
Providence. If this spreads to the out
islands we will be unable to control it
and we will go back to the days of
piracy."

Forum

Other panelists at the forum on
Monday evening iricluded Canon
Kirkley Sands, lawyer Leandra
Esfakis and COB criminology lectur-
er E'Thegra Symonette.

The discussion was moderated by
Jessica Minnis of the School of Social
Sciences.

Bell told the audience that the

Bahamas was witnessing a "paradigm

shift" in the way people are being
killed, and the justice system itself
had become the biggest obstacle to
crime reduction.

"One third of accused murderers
are out on bail, including those
‘accused of up to 10 murders.

“The statistics and reports are all
there.

“We know what is happening. The
only question is who is going to be
next."

Bell said the only way to address
the problem was for the political class
as a priority to agree on a common
-agenda for crime reduction and com-

prehensive legal reform.

"I can go out on the street right
now and buy machine guns, ammo
and bullet proof vests. Already, more
than half of our murders and two
thirds of armed robberies and injuries
are committed with firearms."

"If we can go on TV and say
(Samuel) 90 (Knowles) is a god, we
have not got our priorities right.
What about all the people he killed
with cocaine?"

The reference was to a ZNS news
segment last week that featured res-
idents of Knowles' former neigh-
bourhood praising the convicted drug
trafficker for being a "Robin Hood"
and pillar of the community.

Knowles. was extradited from the
Bahamas in 2006 to face federal nar-
cotics charges in the US. He was con-
victed in March and sentenced to 35
years in prison.

"We have still not recovered from

‘our drug years and if you read the

1984 commission of inquiry report
you will see that the whole fabric of
society was corrupted by the drug
trade.

. “Four hundred crime files a month
came across my desk and about a
third involved drugs."

He called for an independent
national ombudsman to combat cor-
ruption, which he said permeated the
entire society, including the police,
business and government. He
declined to answer a question from
COB lecturer Michael Stevenson on
the degree of political pressure that
police intelligence officers faced.

He said rape was another serious
problem for the Bahamas, revealing
that infants as young as five months
were being raped by people with

HIV/AIDS, often putting the victim's

parents into Sandilands.

"There are 100,000 matters before
the courts, including 11,000 criminal
cases and 48,000 traffic cases," he
said.

"That's about a third of the total

population before the courts, and it is
getting worse and worse. '
He pointed out that the investiga-

tion of serious crimes was compro-
mised by the lack of a police forensic
lab and other facilities.

For example, there were only 10
officers assigned to the murder
squad.

And when samples were sent to
the US for forensic tests, they had a
low priority which further con-
tributed to the delays in the justice
system.

He said more judges were urgent-
ly needed because the judicial sys-
tem had no choice but to set accused
persons free on bail if they could not
be tried in a timely fashion. Many of
these persons on bail were commit-
ting more crimes to help pay their
legal fees, or targeting witnesses. And
all those already convicted of mur-
der now had to go through re-sen-
tencing hearings, putting further
strain on the system.

Decisions

"It's going to get a lot worse unless
we take the bull by the horns and
make some very tough decisions,"
Bell said. "We have the capacity to
act, but we lack the tenacity. For
example, why are we still charging
unlawful killers with murder when
we know that capital punishment can-
not be applied? We should amend
the law to provide for degrees of
killing to make it easier to convict
and implement a System of formal
plea bargaining.

"Why are we still wasting time on
Cordell Farrington (who was charged
with the murder of several school-
boys in Freeport five years ago) when
he has already been convicted and
sentenced for (another) murder?"

Bell said the volume of criminal
cases faced by the police was enor-

- mous. In addition to murders, there

were some 1200 armed robberies a
year, not to mention all the other
serious offences.

"T had case files going back to 1970
to be tried. We have to fix the sys-
tem."

preyed



“Informative. I can be sure to read something of value in The Tribune. It is filled with

information about local news, sports, entertainment and world news — subjects that are

important to me. The Tribune is my newspaper.”

The Tribune

JASON RAHMING
CONSTRUCTION FOREMAN









WEDNESDAY,

JUNE 11,










~~

Andretti Bain sets his eyes

\

on NCAA Outdoor crown

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

resh off winning

the United States

Track and Field

and Cross Coun-

try Coaches Asso-
ciation’s Midwest Region Ath-
lete of the Year, quarter-miler
Andretti Bain is getting set to
close out his collegiate career
at Oral Roberts University on
a high note.

Bain, who won ORU’s first
NCAA title in any sport.at the
NCAA Indoor Champi-
onships, will be out to add the
NCAA Outdoor crown to his
resume this weekend at the
Drake Stadium in Des Moines,
Iowa. He will be one of four
Bahamians qualified for the
final collegiate meet for the

_ year. .

The other three are Rudon
Bastian, a junior from
Louisville, who is entered in
the men’s long jump (7.87
metres); Bianca Stuart, a junior
at Southern Illinois in the
womern’s long jump (6.41
metres) and Cache Armbris-
ter, a freshwoman at Auburn
University, in the women’s 200
(23.13).

Runner-up

As the runner-up at the
NCAA Midwest Regional two
weeks ago, Bain goes into the
Nationals with a personal best
of 45.38 seconds, which he ran
at the Summit League Cham-
pionships last month in quali-
fying for the 2008 Olympic
Games in Beijing in August.

Ranked number seven on
the list of NCAA qualifiers,
Bain will compete in the heats
today. The semi-final is sched-
uled for Friday and the final
will be contested on Saturday.

For Bain, a graduate of St
John’s College, is not only
looking at making his first final
at the NCAA Championships

' the prestigious award, but he’s

‘ and I’m not.concerned about

’ here this week, it will take 44-

in the three years he’s com-
peted, but he wants to win it.

“I’m feeling pretty good
about it because it’s a chance
for me not to feel pressured
about it,” Bain said. “As far as
I’m concerned, the number |.
one goal for me this year is to
win this.

Feeling

“I’m feeling pretty good
because I had a good start to
this week when I found out
yesterday (Monday) that I was
named Midwest Regional
Male Athlete of the Year. So
that’s a big accomplishment.
I’m very proud of that. That’s a
very good sign.”

Not only has Bain never won

never made it past the first
round of the 400 at the Nation-
als. So he’s hoping that he can
finally get over the hump this
weekend.

“T want to run my personal
best and perform very well this
weekend,” said Bain, who
admitted that he’s been hun-
grier than he’s ever been as
he’s more determined to suc-
ceed with this being his final
year in college.

“Pve really been. working
out hard this year. God has tru-
ly blessed me in terms of my
health. My body is feeling fine

any injuries. I’ve been work-
ing out with the physiothera-
pists here and me and my
coach have a determination to
succeed.”

Having already run his PR,
Bain said in order to win the
title, he will definitely have to
crack the 44-second barrier
because “the field that we have

seconds to do it.”

Once he’s completed with
the NCAA’s, Bain will be com-
ing home for the Bahamas
Association of Athletic Asso-
ciations’ Scotia Bank National
Championships, June 27-28.



FRESH OFF winning the United States Track and Field and Cross Country Coaches Association’s Midwest
Region Athlete of the Year, quarter-miler Andretti Bain is getting set to close out his collegiate career at Oral
Roberts University on a high note...

TE
alas

‘BASKETBALL
BBDBA MEETING

THE Bahamas Govern-
ment Departmental Bas-
ketball Association will
hold its final team meeting
tonight at A F Adderley
Junior High School at 7pm.
At the meeting, all teams
are required to submit their
team and players’ fees as
well as team registration
forms.

The league will officially
start on Friday at 7pm at D
W Davis Gymnasium with
three games on tap. How-
ever, the make-up will be
decided at the meeting. -



Waiting for him is defend-
ing champion Chris ‘Bay’
Brown, who lowered the
national record to 44.40 in
Oslo over the weekend at the
Exxon Mobil Bislett Games.

“T watched the race on Y-
tude and I was supposed to call
him yesterday (Monday) to
congratulate him, but I didn’t
know if he was back in the
States,” Bain stated.

“But I’m very happy for him.
Personally, I’m not concerned
about it-at all because the low-
er the record goes, the faster
everybody else have to run to
get it. I think the performance
will add to the nationals.”

Bain warned Brown and his
rivals that he’s coming home
to win the Nationals. But if he
falls short, he wants to make
sure that he secures his spot in
the 400 in Beijing and on the
4x400 relay team.



Olympic qualifying hopes ‘slim’ for relay

@ By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net



SWIMMING



DESPITE a new national record
and an ascension in the world rank-
ings, Olympic head coach Andy
Knowles suggests the chances of an
Olympic qualification for the ladies
4x100m relay team remain slim.

The team of Alana Dillette, Alicia
Lightbourne, Teisha Lightbourne, and
Arianna Vanderpool-Wallace set a
new national record in the 4x100m
freestyle relay at the Charlotte UJtra-
swim Meet in North Carolina last
weekend with their time of 3:51.77s.

The team beat the 3:55.91 posted by

the bronze medal winning team at
the Pan Am Games made up of Dil-
lette, Vanderpool-Wallace, Ariel
Weech and Nikia Deveaux.
With the new mark, the team pro-
gressed to 24th in the world rankings.
For Olympic qualification in relay
competitions, the top 12 finishers at
the 2007 World Aquatics Champi-
onships received an automatic bid.
The remaining four spots will be
selected by FINA based on the results
during the qualifying period.
Knowles said he applauds the relay
team’s effort and congratulates them
on a new national record, but indi-

vidual qualification remains the para-"

mount focus.

“We were pretty pleased with the
over two second drop in the 4x100
free relay. It averaged everybody hav-

ing to go a .57 spilt for the 100 free
which was our best average ever,” he
said, “The emphasis now is to try and
get individuals to see if they can make
the Olympic times rather than focus
on the relay.”

Knowles said the team has made
valiant efforts chasing the qualifying
standard, despite it being a secondary
focus. :

Focus

“We have never really made the
relay our main focus, first of all
because you have to get four girls
capable of qualifying, so the emphasis
is still on the individuals trying to get
there,” he said.

“JT have said for a long time our
chances are very slim and going after
the relay was not our main focus but
at the same time we have not closed
the door on it.”

Knowles said the relay team will
make a final at the upcoming
Bahamas Swimming Federation
Nationals, but the focus will be upon
several swimmers on the cusp of indi-
vidual qualification.

“With just one more opportunity
to get there and still being about six
seconds off, the chances of that are
fading but the individual odds for
many of our swimmers look bright,”
he said, “There are a lot of other

swimmers close to achieving their
marks like Mackalya Lightbourn, the
Lightbourne sisters and Ariel
Weech.”

Nikia Deveaux became the first
Bahamian female swimmer to ever
qualify for the Olympics when she
made the trip to the 2004 Games in
Athens in the 50m freestyle.

Thus far, both Dillete and Vander-
pool-Wallace have qualified in indi-
vidual events for the Beijing Games.

Dillete achieved the 100m back-



stroke qualifying standard at the Ohio
State Grand Prix in April with her
new national record of 1:03.02s, just
below the Olympic B standard of
1:03.86s.

Vanderpool-Wallace, who recently
completed her senior year at Bolles
School in Jacksonville, Florida,
achieved the breakthrough feat in the
100m freestyle at the Missouri Grand
Prix in February.

Her new Bahamian record of 56.67s
also surpassed the Olympic B stan-

team

ARIANNA Vanderpool-
Wallace in action...

dard of 57.17s.

Jeremy Knowles, arguably the most
prolific swimmer in Bahamian histo-
ry, is the third athlete to qualify for
the Beijing Olympics thus far.

Knowles, who holds all but four of
the 16 Bahamian long course nation-
al records, has qualified for four
events. Set for his third Olympic
appearance, he has qualified for the
200m fly, 100m butterfly, 200m but-
terfly, and his speciality, the 200m
individual medley.

bs



PAGE 14, WEDNESDAY, JUNE 11, 2008

SPORTS.

Veteran track and









VETERAN track and field coach Keith Parker (second from left) and North Andos high school teacher/coach
Gonzalo King (back row centre), with athletes who took part in the clinic.

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TRIBUNE SPORTS

field coach ‘jumps’.
clinics in Andros



KEITH PARKER with eight-year-old long jumpers Kylon Newton (left) and Nigel La Fleur, students of Nichol-
I's Town Primary School, at the Carl Oliver track, North padi High School, where he conducted a clinic for

long, triple and high jumpers.

KEITH PARKER, veteran
track and field coach, who has
coached numerous Bahamian
Olympic and World Champi-
onship teams, visited North

‘Andros and conducted coach-

ing clinics in triple, long and
high jump.
Coach Parker arranged the

_ visit with North Andros High

School teacher and coach Gon-
zalo King. ;

Coach Parker noted: “The
idea began over a year ago
when I saw the talent of young
triple-jumper Tamara Meyer,
at the 2007 Carifta trials.

“When I learned she was







NISSAN SN |



from Andros, I spoke with her
teacher/coach, Mr King, and
offered to assist the young ath-
lete if he thought I could help
her.

Tamara won a silver medal
in the under-17 division at this
year’s Carifta Games, even
though she is still only 14. I
contacted Mr King and he
agreed that I may be able to
help her achieve the triple
jump qualifying distance of
12.20m, for the 2008 World
Junior championships. Since I
would be travelling to Andros,

' Mr King got a group of ath-

letes together so that a ‘clinic’

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Certain Restrictions ee

could be organised.”

Attending the clinic were
Tica Grant 14, Keisha Bak-
er,13, Deneisha Bagot, 13,
Shantone Evans, 13, and
Nicholl’s Town Primary School
students Kylon Newton and
Nigel La Fleur, both just eight
years old.

Coach Parker noted: “They
all worked extremely hard in
two, 2-1/2 hour sessions and
made amazing progress. The
two young boys have incredi-
ble talent and I believe that
Tamara could make the world
qualifying mark at the trials on
June 20-21.”

















TOYOTA COROLLA | TOYOTA AVALON {| ISUZU BIG HORN [IS





TRIBUNE SPORTS



SPORTS

TRE TOAD

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

WORLD champion high-
jumper Donald Thomas may
have finally found his footing
as he prepares for his first
appearance at the Olympic
Games in Beijing in August.

Over the weekend at the
Prefontaine Track and Field
Classic in Eugene, Oregon,
Thomas opened his 2008 out-
door season with a fourth
place finish in his speciality,
clearing a height of 7-feet, 4
1/2-inches.

Thomas, who turns 24 on
July 1, said he had to go
through a major adjustment
competing for the first time
in the new Adidas high jump
shoes specifically designed for
shim from scratch.

If you remember, Thomas

is just in his third season, hav-
ing made the fantastic trans-
formation from the basket-
ball court to the high jump
pit where he launched his
career at the Commonwealth
Games with a fourth place
finish in 2006 in Melbourne,
Australia, to the gold last year
in Osaka, Japan.
. Looking back at his perfor-
“mance on Sunday, Thomas
said his only problem was that
increments were moved up
by five centimetres faster than
he anticipated, rather than the
normal two centimetres in a
regular meet.

“The competition was
going too fast, so I really was-
n’t able to get into a groove,”
Thomas pointed out. “My
approach was off because I
didn’t have time to make the
adjustments because they
moved up the increments too
fast.”

But Thomas, who had to
take some tiie off to recu-
perate from an ankle injury
he sustained indoors in Feb-
ruary, said he took satisfac-
tion in the fact that what he
did was quite comfortable
with the new footing in his
shoes.



WEDNESDAY, JUNE 11, 2008, PAGE 15






























































“I believe I’m right there
and I can do great things this
year,” he insisted. “It felt very
good jumping in the new
high-jump shoes. It was right
to my liking because I had the
bounce and the height. I just
didn’t have-the right approach
to the bar.”

Today, Thomas will leave

‘for Europe to fulfil a com-

mitment to compete in a meet
on July 14 in Hungary. After
that, Thomas said he will gear
himself up to come home and
compete in the Bahamas
Association of Athletic Asso-
ciations’ Scotia Bank Nation-
al Championships and
Olympic Trials at the Thomas
A Robinson Track and Field
Stadium from July 27-28.

“J just want to come back
home and then go to the
Olympic Games and bring
back the medal,” said
Thomas, who has his sights
set on the gold, but noted that
he just wanted to get back on
the podium as he did at his
first World Championships
last year.

While he tested the new -
shoes for the first time,
Thomas said his coach had
instructed him that if the new
shoes pose a problem for him
in Beijing, he’ can revert to
the pole vault shoes he used
last year in Osaka to claim
the gold.

“By the time the Olympics
roll around, if I’m not jump-
ing the way I was jumping last
year, I havesthe option of
using the shoes I used last
year,” Thomas lamented.
“My coach just wants me to
use the new shoes for safety.

“But he said if I want to
change, I can take the risk at
the Olympics. He just want
me to do whatever is neces-
sary to get a medal in Beijing.
But I feel comfortable in
them. I just have to see how it
goes in Hungary and at the
Nationals.”

In any event, Thomas
assured the Bahamian public
that he will be ready to com-
pete at his best in Beijing.











PAGE 16, WEDNESDAY, JUNE 11, 2008

THE TRIBUNE



LOCAL NEWS



DATTA TO

Seth

Damianos Sothehy’ S International
Realty opens Spanish Wells Office

DAMIANOS Sotheby’s International Realty announced
that it has opened a second office in Eleuthera on the Beeune
island of Spanish Wells.

Darrin Sands will be heading and operating this office
which is located in the centre of the Southwest commercial and
commerce area on Samuel Guy Street.

This is the 7th office for Damianos Sotheby’s Internation-
al Realty.

“The whole community of Spanish Wells i is invited to cele-
brate the opening of this new office on Saturday, June 14
from 2 to 4pm,” said the company in a press release. “Every-
one is welcome to come and enjoy the festivities and refresh-
ments.”

The company said expanding into Spanish Wells reflects the
its commitment to provide quality service and unique island
real estate.

“Spanish Wells is well known for its prosperous lobster
fishing and its relaxing lifestyle with New England ambiance
on a small and charming out-island located off the northern tip
of Eleuthera. This new office will provide professional real
estate service, featuring extraordinary properties on Spanish
Wells, Russell Island, Harbour Island, North Eleuthera and

Royal Island,” said the statement. “Darrin Sands is a native of

Spanish Wells, a licensed pilot and an experienced fisher-
man whose extensive local knowledge and local contacts will
be of great advantage to his clients, especially newcomers to
the Bahamas.”

Royal Island is a developing community on a private island
a few miles from Spanish Wells by boat that Damianos Real-
ty says is destined to become a premier luxury resort.

Royal Island offers many real estate opportunities includ-

ing the Royal Island Founder’s Club with Oceanfront Home-
sites and Villas. When completed, the resort will house a
Jack Nicklaus Golf Club, deep-water marina, five-star bou-
tique hotel and championship tennis courts.

Damianos Sotheby’s International Realty is headquartered
in Nassau with offices in Lyford Cay; Governor’s Harbour and
Spanish Wells, Eleuthera; Marsh Harbour and Hope Town,
Abaco; with associates in Treasure Cay, Abaco; Freeport,
Grand Bahama, and Indigo Island, Exuma.

Through its affiliation with the prestigious Sotheby's Inter-
national Realty brand, Damianos Sotheby's International
Realty notes that it is ‘able to provide global exposure for
their Bahamian property listings.

as
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5pc Butterfly
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Thighs & Soe
‘pc

* ee



Donations for Lewis
Yard Primary School

GRAND BAHAMA- Dona-
tions collected by concerned citi-
zens over a 10-day period were
delivered to the Lewis Yard Pri-
mary School by truck last week.

It took a group of 12 children
and adults over 30.minutes to
unload the truck.

Donations came from all over
Grand Bahama via three persons —
Larry DeGregory, Alex Cafferata,
and Chiara Petrucci.

Mrs Cafferata heard about the
plight of the.school through Mr
DeGregory of ‘Cookies for Kids’
group. :

Mr DeGregory and his group
have been supporting the school
since they began their programme
back in March of this year. Mrs
Cafferata told her sister Sarah
Hamilton, production manager on
the German film, “The Sea Wolf”,
about the student’s needs and
together they began donating
lunches to the school each day.

They also donated all the

remaining food from the movie set -

to the school, now that shooting
has completed and the crew is leav-
ing the island.

The DeGregorys, Mrs Cafferata
and Ms Petrucci teamed up and
contacted their friends, family and
the general community through
Facebook.com, e-mails, telephone
calls, word-of-mouth, and though
TheBahamasWeekly.com web site
to get as much support for the
school as possible.

The donations poured in. Offer-



IT TOOK a group of 12 children and adults over 30 minutes to imicad the truck. Bonations came woin aii
over Grand Bahama via three persons — Larry DeGregory (father behind the ‘Cookies for Kids’ group), Alex

Cafferata, and Chiara Petrucci.

ings ranged from a brand new
microwave, to books, clothes, fur-
niture, toys, kitchen items and
food.

Excited students of the Lewis
Yard Primary School helped carry
the bags and boxes stuffed with

goodies from the truck into the.

school’s library.

From there the goods will be
sorted, grouped and boxed for
donation to families in need in the
area.

Many families are in need of the
simple basics like-can openers or
electric kettles, stoves or even
burners. Many of the children have
no warm clothing for the winter
months.

_ Kelley Albury, an employee at
the school, now has the task of get-
ting the goods to the families.

All community groups, busi-
nesses and any interested individ-
uals on the island are encouraged
to become involved, as the needs



ON MAY 30, a transport truck arrived at the Lewis Yard Primary School to unload donations made by.concerned
citizens over a ten-day-period. Seen here along-with-children and-helpers from-the school-are Alex Cafferata
(holding her son Casper), Larry DeGregory (centre), Kelley Albury (in red), and Chiara Petrucci (far right).

Double Crunchâ„¢
Sandwich

Computer Technician

Office Administrator

Project Manager

Web Designer
Creal ter ata
a Nene

Network Technician

laren tare lp\ mine] t oe

of these families are ongoing.
The Lewis Yard Primary stu-

‘dents do not necessary live with

their immediate family, and many

are grouped together with older

women who care for them.
Approximately 236 children are

enrolled at the school, but only 49

students are registered in the gov-
ernment lunch programme.

Many families are living up to
eight people in two-room shacks
with no plumbing or electricity,
and have to:stuff old clothes or
plastic bags in the holes in the walls
to protect them from wind and
rain.

They are left cold in the winter
months and overheated in the sti-
fling summer months. They have a
half-mile hike to collect water in
buckets for drinking and bathing.
The school’s playground consists of
a rocky dirt field with a single pic-
nic bench.

The next delivery day for dona-
tions will be Thursday June 12.
Anyone wishing to assist with
donations, or with specific tasks,
like helping build a cafeteria for

’ the school, or even adopt a family

or home can contact the DeGre-

~ gorys (Cookie for Kids) at Cook-

ieKids4Kids@yahoo.com. Chiara
Petrucci can also be contacted at

727-2030. Alex Cafferata at 375--

2326. Lewis Yard Primary School
can be contacted at 242-353-7001.








|THE TRIBUNE



WEDNESDAY,

JUNE

deky,

SECTION B ¢ business @tribunemedia.net



Government collects mo



ROYAL @ FIDELITY

Money at Work

NASSAU OFFICE

(242) 356-9801.

_ FREEPORT OFFICE
- (242) 351-3010



than $13m in gaming taxes

Minister says gaming as an industry is a significant component of our economy

dewcbewcc ete cc de cece nce meee need na cewek ce caee ee conn en doce nce nee c ec meee seks cn ce een em eee secon shane ce cence ese cence nn een enone nace nn sete se nent neccnncnnanesan sence nedp ann ns sande teas awd en neat ana na nse wn awn naan mann ncn nanan esas ana panne nnn ans as en sania neh pen ema nen doe ban sansa ecanmandnnponeasbarenstessenasnanensonensasesmesecwcanassesecessoeh

@ By CARA BRENNEN-BETHEL
Tribune Business Reporter

he government collect-

ed almost $13.5-million

in gaming taxes between

March, 2007, and. Feb-

ruary, 2008, the Minis-
ter of State for Tourism and Avia-
. tion Branville McCartney told the
House of Assembly during the budget
debate.

Mr McCartney said that gaming as
an industry is a significant component
of the economy.

“This is evident not only by the
number of Bahamians employed in
gaming, now pegged at 2,300, but also
in the annual tax revenue generated

March, 2007, to February, 2008.” -

Davis commends
sovernment for

_Mr Mecanney
revealed that a
breakdown of
the casino gross
revenue and |}
government tax |}
revenue figures
shows that over
that time gaming.
taxes collected
for each casino
are as follows: —

Atlantis Par-
adise Casino
$12,519,380.77;
The Crystal Palace Casino, had
$2,150,000 in payments deferred in
accordance with the previous agree-
ment with the government while the
Isle of Capri on Grand Bahama 2 paid

McCartney



a By CARA BRENNEN-
BETHEL .

- Tribune Business Reporter

$845,696.18 and The Caine at Emer-
ald Bay on Exuma paid $132,050.16.

Mr‘McCartney also. pointed out
that draft legislation to amend the
Lotteries and Gaming Act Chapter
387 is proposed to change various
fines in the act which were described
as dissuasive.

He explained that proposed
increases in fees are the result of the

report in the Caribbean Financial.

Action Task Force (CFATF) report
on gaming in the Bahamas.

CFATF is an organisation of 30
- states in the Caribbean region, includ-
ing the Bahamas, which have agreed

to implement common counter mea-
sures to address the problem of crim-
inal money laundering. It was estab-

lished as a result of Hei con-

vened in Aruba in May, 1990, and
Jamaica in November, 1992.

_ The main objective of the CFATF
is to achieve implementation of and
effective compliance with its recom-. :

mendations to prevent and control

money laundering and ee ‘the,
‘financing of terrorism.
The collection of gaming taxes has

in the:past been a challenge.

According to the 2006 Auditor
General’s report, outstanding casino
taxes were at shocking. levels and $
the report noted, the casino owed the

amounted to $72,620,721.40. °

The report went on to say that The a
Paradise Island Casino was the only -
such licensee at the time that was ie aS
to date on its casino tax payments for :.

that particular year. In fact, the casino

which 1 is currently operated at Atlantis

‘Bank to unleash n new electronic services a

| “Byes further expansion :

overpaid its bill by $56,500.31, and
the auditor general noted that its tax-

/ eS were paid on a consistent basis

throughout the year.
Crystal Palace’s casino total basic

and gaming taxes for 2005/6 amount-

ed to $5,205,841.05. However, the

total amount ‘paid during the period

was only a meagre $3,239.82. An

_ amount of $2,150,000 was shown as a
deferred payment of taxes as per an

agreement between the Crystal Palace _
Casino:and the government. In total,

government $5,202,601. 23 for the

period under review.
a Emerald re Casino opened ,

“SEE page 2 2B




the Family Island

. Development Act

@ By CARA BRENNEN-
BETHEL
' Tribune Business
Reporter



PHILIP DAVIS, PLP MP
for Cat Island and San Sal-
vador, has commended the
government for its efforts to
stimulate the economies of the
lesser developed islands
through the Family Island
Development Act.

Speaking with Tribune Busi-

ness in Cat Island, Mr Davis
said the incentive will spur
development on all the islands
included.

“It is a very good incentive
and is likely to spur develop-
ment on all the Family Islands,
because any time you can bring
in goods duty-free it will cut
the cost of building and
encourage people to build and
so [commend the government
for that act and hopefully the
people will take advantage of it
and benefit.”

The administrator on Cat

Island, Charles King, said the _
exemption would allow resi- ’

dents to apply savings to sup-
plies or other items to improve

the aati of their businesses.

. He also said it would help to

maintain the current upswing
in construction on the island.
Under terms of the provi-
sions, lesser developed islands
will be granted special conces-

sions for construction materials .
to be used in new construction,
rehabilitation and extension of _

new and exsisting buildings.
They will also be allowed

duty-free and excise tax free

import of any machinery used

for the clearing of land for

farming or construction.
Mr Davis said Bahamians in

the lesser developed islands’

are feeling the pinch of eco-
nomic times and the high cost
of fuel, which on many have
passed the six dollar mark.
However, he remained opti-
mistic that Bahamians will be

able to overcome the chal-..

lenges

“We are a resilient people

and from time immemorial we
have been able to find.a way to

live through the good and the

bad, the ‘highs and the lows,
and at the moment we are cop-
ing as best we can. We will sur-
vive through this.”

Bahamas must take
advantage of citizens’
creative talents

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

THE Bahamas has the
potential to distinguish itself
from its competitors and enter
into a whole new period of cre-
ative economics by taking
advantage of the creative tal-
ents of its citizens.

Roosevelt Finlayson, cre-
ative collaborator of the Festi-
val in the Workplace pro-
gramme, explained yesterday
that given the trying and chal-
lenging economic times the
entire world is now experienc-

. ing, it is essential that Bahami-
ans find a way to set them-
selves apart not just in the/ser-
vices they provide, but in the
delivery of those services,

He said this is why thé Fes-
tival in the Workplace pro-

‘gramme can be so essential to

the revitalisation of Bahami-
an businesses. He explained
that the Festival in the Work-
place programme exposes busi-
nesspersons to thé arts such as
Junkanoo to encourage the
creative process:and organisa-
tional excellence into skills
they can use in the workplace.

“If you take for example, :
Junkanoo, Bahamians are very °

passionate about that and
about the level of quality which
they put into the process of
making those costumes. So
there are lessons which can be
learnt there about creative
thinking and the process
involved in maintaining quali-
ty. ”

He added that in many cas-
es, some employees would like

SEE page 12B

‘service delivery and is also
- looking at further expan-

_and to. Family Islands

a presence.

THE Bank of the f
Bahamas is set to unleash a |;
series of new electronic ser- },
vices in an éffort to |
improve on its customer

sion to nearby: countries

where. it does not yet have |
Speaking with Tribune

Business on the heels of

opening of. the bank’s
newest branch on Cat

Manco ;

Island, Paul McWeeney, BOB’s managing | ditec-

tor, said that, as they look at expanding, the
bank will be focused on its delivery of services.
_ “We will be unleashing a series of electronic

features with the aim of diversifying the delivery .



' es.

on Family Islands

base to make them more customer friendly,
more efficient and more cost effective.” i
~The Cat Island location is the bank’s. 1th a /
branch and Mr McWeeny said the vou had no
intention of stopping. °°’
“We are looking at some countries Garou j

_ and the focus is on spreading our presence |

throughout the islands and we are actively look-'

ing at several islands right now.” °
He said the intention was to employ staff that

come from the islands where they open branch-

In March, the bank opened a branch i in: \ Mia- ie
mi.
Mr McWeeney said the bank eonunuee todo 3
well because of the dedication of its 300-plus. j
employees, all of whom played an ptena Tole”

Be telaselcarel 7

Ps a Re

om

arity i VO
a ere

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» BAGE:2B; WEDNESDAY, JUNE 11, 2008



Quality for a high-paying job as an office as-
sistant in just a few short weeks. Enroll in a
certificate course at Success Training College.

Da ‘evening and weekend courses are avail- |
able. New classes are forming now. Call for!
registration and program details, 324-7770

~SOPPORTUNITY

The Winterbotham’ Trust Company Limited is looking to fill the position of carporats
Administrator:

In this challenging position you will be responsible for but not limited to the following
tasks:

Incorporation of International Business Companies and Ordinary Companies
Administration of International Business Companies and Ordinary Companies
Liaising with the Registrar General’s Department, Ministry of Foreign Affairs,
Registrar of Insurance Companies, The Central Bank of The Bahamas, The
: Inspector: of Financial and Corporate Service Providers and various consulates
Ensurag' the accuracy of banking and administrative statements of account before
dispat¢h to clients _
onducting comprehensive Annual file reviews
Your Customer (Due Diligence) documentation collection
Opening of bank and administrative accounts

The Sosestha applicant must have the following qualifications:

° Knowledge of the processes associated with the incorporation and ongoing

administration of International Business Companies and Ordinary Companies
Basic knowledge of the Legislation governing International
Business Companies, Gecinaty. Companies and Financial and Corporate Service
Providers. ©
Knowledge of the process associated with legalization of documents.

«o«.Knowledge of requirements for completing the Know Your Customer (Due.

Diligence) process
Computer literate (MS Office products)
Strong organization and communication skills

Ability to analyze client financial needs to provide solutions with products and/or
services offered by the company.
Fluency i in opens or Portuguese an asset but not required

Applications/resume should be sent by e-mail to nassau@winterbotham.com or faxed
to (242) 356-9432
Under reference “Corporate Administrator” :
- ABSOLUTELY NO TELEPHONE INQUIRIES WILL BE ACCEPTED
_ Persons not meeting the above requirement need not apply
Deadline for ae Friday, June 20, 2008





The Bahamas Sportfishing & Conservation Association (BSCA)

The Bahamas Sportfishing & Conservation Association is looking for suitably qualified
_ professionals willing to live and work on a major Family Island to serve as

SOCIAL MARKETING MANAGER

OVERALL RESPONSIBILITY



ire peop to engage in environmental protection at every level of the community



ea HERS

” SPECIFIC Pulee

° Develop a project plan to guide implementation and impact assessment at the target
community site, including short and long-tern conservation goals

* Identify and develop a local charismatic flagship species seein to serve as an icon and
messenget for broader Scr e thence

» Use various social marketing strategies to target key segments of the population
* Greate an emotional attachment between communities and their natural heritage

‘ Carefully measure attitude and behaviour changes using pre and post campaign surveys :
aad control bree

BENEFITS

bh _ University training | in ecology, biodiversity, pornmuunlty-hesed conservation and social.
a By ‘marketing ©”

« Technical support & mentoring
QUALIFICATIONS

Bachelors degree in business, sociology, or environmental sciences

Ability to work with professionals in both public and private sector

Ability to work with a team of professionals from other disciplines

Ability to draft proposals & demonstrate analytical skills

Excellent verbal and written communication skills

Time management skills as weil as manage multiple duties, & meet deadlines
_ Ability to work with children

2 * - ee. 6©f8f06hlU6@

E-Mail | Responses to : taffy@coralwave.com or
Send Res we 105.3. Social Marketing Manager.
eer C/o. Executive Director



- Bahamas Sportfishing & Conservation pera
_ P.O. Box AP-59223, Siot #306
Nassau, Bahamas

Business Office Assistant § Government collects

THE TRIBUNE





more than $13m

in gaming taxes

FROM page 1B

on May 21, 2006, and it paid
its taxes for that month in the
amount of $2,155.90. Basic
gaming taxes for 2005/6
amounted to $28,719.51, and
the reports stated that this casi-
no owed $26,563.61 in out-

standing taxes as of June, 2006.

The Isle of Capri Casino in
Grand Bahama did not pay

any casino taxes between July,
2005, and June, 2006. Its bill
for the period was
$4,047,466.47.

- “We recommend that urgent
steps be taken to collect the
taxes due the government and
that a policy decision be made
to clear the books of amounts
owed by the closed casino if
the outstanding amounts are
deemed uncollectable,” said
the report.



Regarding outstanding casi-
no taxes for prior years, the
Paradise Island Casino owed
$1,187,696.66; the Crystal
Palace Casino owed
$56,521,522.58; and Isle of
Carpri owed $5,691 ,371.16.

With casinos having multi-
ple owners over the years,
these outstanding bills are not
necessarily due to the current
owners of the licences, the
report emphasised.



KINGS REALTY
CONSTRUCTION MANAGER

King’s Realty Limited is in search of a select individual to join our tear.

ll SUMMARY:

oe candidates will be innovative thinkers and have the ability to “think outside the box”
you will also need to demonstrate excellent communication skills, proven leadership abilities and

Hi previous construction management skills isa must Candidate rust brirg strong organizational

skis anc be able to rnanage multiple fast paced profects at tine.

“QUALIFICATIONS:

* Minimnurn of a Bachelor's Degree
« Proficiency in Microsoft software mainly Word, Excel and farril any with Project
Management software,

| RESPONSIBILITIES INCLUDE BUT NOT LIMITED To:

Preparation of bid Anodes buckets, estimates sid costanalysis as well as overseeing of
the purchase of the necessary matertals
Manage projects and ensure successful execution of work and establish cammunication
procedures including the appropriate chain of command for alb communications for

_ projects and set up.an apprepriate tracking systern for necessary approvals
Establish meeting procedures and timetables
Ensure project decumentation [s accurate and coordinated
Provide updated progress reports or: projects ~ aay
Oversee construction activities including coer ination of Contractor 3
Conehect design coordination meetings, pre-construction meetings, site Inspections and
punch list meeting/coordination

* Review all requests for information, charge requests, etc. and issue appropriate response

Inter ested persons should submit applications in writing to P.O, Box N-10414, Nassau, Bahamas —
Re: Construction Manager or via e-mail to bahamas@kt rgsrealty.com

Royal Island (Bahamas) Limited

INVITATION FOR aya :

Royal Island (Bahamas) Limited, the developers of the Royal Island Resort and
Residential Project, just off North Eleuthera wish to fill the following position:

Estimator/Quantity Surveyor

This is a Senior Level Individual should be a generalist and capable of preparing
detailed estimates through all phases of the project. The Successful Candidate |
will:

Report to the Vice President of Resort Development on allt matters relating
to the Project.
Operates as the focal point for all construction estimating.
Provides the construction team with cost guidance during all phases of the
construction.
Tests the estimates for reasonableness based on comparable / ole
historical data.
Evaluates all design documentation aid assist in value engineering reviews.
Responsibility for monitoring specific budget break down for construction
or trade packages based on the overall Project Budget.
Participates / assists in the preparation of individual package scopes of work
together with Consultant and vendor Requests for Proposals (RED or
Invitations to Tender.
Assists in pre-contract tender evaluations and award negotiations.
Assist with daily management of Contracts with specific responsibility for
negotiating Contract Directives (CD).
Provides monthly input to the Estimated Final Cost cae / Budget Status
Report.

Qualifications and Experience:
e Ten (10) Years of related Experience within the Luxury
¢ Resort/Development Industry and a degree in Construction Management or
equivalent.
The successful candidate will be required to work on Royal Island Bahamas.
Interested persons should submit their resumes with cover letter to:
Fax to: (954) 745-4399
Or

Email to: aileen.miller @royalislandbahamas.com

Royal Island (Bahamas) Limited thanks all applicants for their interest,
however only those candidates under consideration will be contacted.



THE TRIBUNE

WEDNESDAY, JUNE 11, 2008, PAGE 3B





Gems Investments’
financial controller
passes the Series 7

REECE CHIPMAN (right),
managing director of the Nas-
tac Group Limited, congratu-
lates Sheldon Cartwright on
passing the Series 7 ‘exam in
Fort Lauderdale this month
with above average results.

Mr Cartwright prepared for
the exam by taking the Series 7
General
NYSE/NASD Registered

Representative Course with

the Nastac Group.
The Series 7 is the profes-
sional qualification designate

for representatives in the secu-

rities business.

The qualification will assist
‘Mr Cartwright in giving finan-
cial consultation, investment

Sécurities ©.

‘advisory services and in oper-

ations. and portfolio manage-
ment.

He is now even more aware
of international investment
products as well as rules and
regulations as they apply, to the

“local and international finan-

cial markets.
Employed

_ Mr Cartwright is employed

- at Gems Investments as group

financial controller. He is
responsible for the. daily and

~ overall financial operations
and reporting. He-has been ©

with the company for about
one year, prior to which he

The Scotiabank __
Rate Booster Deposit

Combines the higher interest rates of a longer term —
investment with the flexibility of a short term deposit.

Your interest rate increases twice during the term

of your investment, so your money is guaranteed to
grow faster! Plus you have access to your money at
two set dates within the term of your deposit, giving

you penalty free access to your money.t



worked as an audit. manager

with the accounting firm of
' Ernst and-Young.

Mr Cartwright said he would
recommend the course to
those in the industry and oth-

ers interested in the financial

services business.
With his new qualifications,
Mr Cartwright is now able to

register with the Securities —

Commission of the Bahamas
as.a licensed broker and finan-
cial adviser.

He may now advise individ-
uals and companies on finan-

cial matters and returns on -

their investments as well as on

returns on the investments of '

their clients.





Visit your nearest Scotiabank branch today.

+ Some conditions apply. Rates subject to change.

* Trademarks of The Bark of Nova Scotia.

Trademarks used under license and control of The Bank of Nova Scotia.

Life. Money. Balance both:

Ryn

*



LAW REVIEW

All candidates for the LLB degree with the University of Huddersfield/Holborn Col-
lege are invited to register for review sessions scheduled for June 30 — July 2.
All sessions will be conducted by a senior professor from the university. Candidates
who are preparing for upcoming exams are especially urged to attend.

Call Success for registration information. 324-7770

Vacancy for
Sr. Area Director, Development & Construction.

A minimum of twenty (20) years experience in the Construction industry with specific documented
“experience in project and/or construction management.

A minimum of ten (10) years experience leading project teams on multiple projects in remote,
international locations with single-point accountability for capital budgets and schedules.
Professional degree in technical field from an accredited university

Strong leadership, management, and communication skills providing the ability to work in a
dynamic, multi-functional matrix management environment, as a “Team Player’. Pro-active, °
assertive, motivated and disciplined.

Experience in leading, managing, and coordinating design, construction, and other professionals.
Experience in qualifying, contract negotiation, recommendation, and administration of
Professional and Contractor Agreements.

Proven ability to understand the business goals. of stakeholders and implement a partnering
relationship that will enable mutual success.

Experience in legislative/ jurisdictional approval processes.

Proven ability to comprehend, and critique design and contract documents.

Lead and coordinate resources to achieve complete technically acceptable design and contract
documents within Design Guides, Construction Operations Manual, project scope, schedule, and

. cost.

Computer literacy on Microsoft Office products, Primavera P3 or Suretrak (or other scheduling)
and, Primavera Expedition (or other Project Management) software applications.

Ability to reside full-time in Abaco for the full duration of the project.

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



s




VACANCYIN OTICE
Assistant]Directorl-0HR #

¢

Allvacancylexistsiat Thel National Insurance! Boardl forllanl Assistant] Directori of] Huma
Resources. ,

ReportingiltolthelDirector, Dthelsuccessfullapplicantiwillbellresponsiblelforlithelmanagementiof f
thelHumaniResourceslandiTrainingifunctionslofithelBoard.0Thislpositionlwilllbelresponsible
for:

él Administrationfoftpersonnelpolicieslandiplansitolensurelfair,Jconsistentlandcompetitive
treatmentioflalllemployeeslinlaccordancellwithlalllapplicablellegislationilandiregulations.

a Implementationfiofiresponsivellemployeeirelationsiprogramsitollcontributestodhighiimoraled
andthighilevelslofilproductivity. »

él Sucbessfulliné gotiationlioftindustriailagtesmentsiwithimanapententandinon: management!
labourflunions.

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peoe reams a ie onta bute cok neon ani zai Gnstiabilityitolatrast ire tanlancimotiyatcicompetent
personnel.

él {sintinin fiat vorablofkvorkingihelag oils phwithne nether bompan yiefiployeesiKoliiromote
allcooperativellandtharmoniouslworkingiclimatelwhichiwilllbelconduciveltolmaximuml
employeellmorale,[productivity,landllefficiency/effectiveness.

€ Workingilcloselylwithllexecutiveslandidepartmentallsupervisorslinideterminingicurrentlland
futurelorganizationallneeds.

a Ensuringithattalldstafiflmembersireceivellappropriateltrainineltolperformitheirljobsleffectively.
él. ProsecutionlandImanagementiofilcasesibeforelMinistrylofftLabourlandIIndustriallTribunal.

él Creationlandlupdatin glofilformallstaffilj obldescriptionswheninecessaryltolincreasellefficiency
po clag ey cue nto tthe opeanizar on sie cal etwathitae at Oca sana wedePPr opiate
resources.

él ‘Develop jladministerlandImonitorlanleffectivelperformancellappraisallisystemithatprovides
meaningfull feedbacki tol staffl thereby enhancingl theirl growthl andl development.

REQUIREDISKILLSIANDISPECIALITECHN IQUES

él BelallstronglteamlplayerlandlbusinessImanagerlwithllalsolidifoundationlandlunderstanding}
offloveralllbusinessloperations,JshowingithelabilityltolinterfaceleffectivelylwithllallilevelsO
andifunctionslwithinlthelorganization.

al Havellexcellenticommunication(skills,bothiorallylandlinlwriting,Jandibellanioutstandingll
listener.

€l Belservicelorientedlandlyetihavelalstrategiclorientation, nab patna na gnerdstiolbelddong
andilladdressingithoselineedslcreatively.

al Stronglmanagementlandileadershiplskills.

QUALIFICATIONSIANDIEXPERIENCE

Thelideallcandidatel willJhavellal Bacheloris DegreelandDatMleastIfivelplus0yearsloff Huma
Resourcesllexperiencelinlallleadershiplorimanagementicapacity.JA0MasterisJDegreelinJHuman
Resourceslislpreferred.JResumesl withlsupporting0documentationlshouldlbelsubmittedlonlor
beforelMonday,lJunel16,02008,0to:

ThelDirector
THEINATIONALIINSURANCEIBOARD
P.O.1BoxIN-7508
Nassau,JBahamas



ee

PAGE 4B, WEDNESDAY, JUNE 11, 2008 THE TRIBUNE















‘I get a better sense of what
is happening in The Bahamas
from. reading the Tribune.
Where other daily
newspapers fall short, the
Tribune delivers. I’m_

| confident knowing The
Tribune looks out for my:

| interests. The ‘Tribune is .
| . “fy newspaper.”

NELSON JOHNSON 7 | i ye?
TAX! DRIVER | 4Ah. AA, th, Plowstad





3
g
3
q







Pn eee Re eee |
Wall Street mixed as oil prices surge higher

@ By TIM PARADIS
AP Business Writer

NEW YORK (AP) — Wall
Street traded mixed Tuesday
as oil prices ratcheted higher
and as speculation grew that
the Federal Reserve might
raise interest rates to fight
inflation.

The International Energy
Agency said oil-producing
nations outside OPEC are hav-
ing a tough time keeping up
with demand. The agency low-
ered its forecast for global oil
demand because of the recent
surge i” prices, but said China
might need more for recon-
struction in the aftermath of
May’s earthquake.

This sent a barrel of light,

sweet crude up $2.71 to
$137.06 on the New York Mer-
cantile Exchange. Crude prices
last week climbed to a record
$139.12.

Meanwhile, comments from
Federal Reserve Chairman

Ben Bernanke that a substan- _

tial economic downturn seems
unlikely have raised expecta-
tions that the central bank
might raise interest rates to
fight inflation.

In midmorning trading, the
Dow Jones industrial average
rose 14.90, or 0.12 per cent, to
12,295.22.

Broader stock indicators
declined. The Standard &
Poor’s 500 index fell 0.77, or
0.06 per cent, to 1,360.99, and
the Nasdaq composite index



of The Bahamas

M D

NOTICE

Notice is hereby given in accordance with
Section 64 of the Securities Industry Act,
1999 that Mr. Peter Thompson resigned as
a Director from the board of Bank of The
‘Bahamas Limited on May 20, 2008.

fee A Diller

Secretary

IS Bank



Legal Notice

NOTICE

BOUVERIE INVESTMENTS INC.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of BOUVERIE INVESTMENTS INC.
has been completed; a Certificate of Dissolution has been
issued and the Company has therefore been struck off the
Register.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
TOP STAR INC.

~ (In Voluntary Liquidation)

Notice is hereby given that the above named

Company is in dissolution, which commenced -

on the 2nd day of June 2008. The. Liquidator
is Argosa Corp. Inc., ‘P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

SEALY HOLDINGS LIMITED

In Voluntary liquidation

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

The date of commencement of dissolution is the 21st day of
May, 2008.

Simon J Harman

Equity Trust House
28-30 Parade,
St. Helier, Jersey.
JE1 1EQ
Liquidator








fell 8.53, or 0.35 per cent, to
2,450.93.

Bond prices fell. The yield
on the benchmark 10-year

- Treasury note, which moves

opposite its price, rose to 4.06
per'cent from 3.99 per cent late
Monday.

The dollar was mixed against
other major currencies, while
gold fell.

The rise in energy remains
a concern for Bernanke, who
on Monday reiterated during a
speech that higher energy
prices “suggest that growth
risks remain to the downside.”
His assertion that the chance of
a substantial downturn has
decreased is raising Wall
Street’s expectations that the
central bank might soon be
comfortable in raising interest
rates.

The central bank is worried
that escalating commodities
prices might curb consumers’
appetite to buy discretionary

For the stories
behind the news,

read Insight
on Mondays



items. This would pose a seri-
ous threat to the US economy,
as consumer spending accounts
for more than two-thirds of
economic activity.

In other economic news, the
Commerce Department
reported that the US trade
deficit had a larger-than-
expected jump in April. High-
er oil prices and an increase in
consumption for crude offset
a climb in exports, the govern-
ment said.

The deficit in international
trade of goods and services
increased by 7.8 per cent to
$60.90 billion from March’s
revised $56.49 billion. The
trade gap was forecast to rise
to $59.5 billion, according to
economists surveyed by Thom-
son/IFR.

In corporate news, Texas
Instruments Inc. fell 62 cents,
or two per cent, to $30.71 after
narrowing its second-quarter
revenue and earnings expecta-
tions late Monday.

Billionaire Kirk Kerkorian’s
investment company said its
tender offer for 20 million
additional shares of Ford
Motor Co. attracted a huge
response and will easily enable
it to increase its stake in the
automaker to about 5.5 per
cent. The Dearborn, Mich.-

Established —
company seeks

Talented and innovative marketing and
graphic arts candidate for entry level

position.

Good hours, good benefits.

This individual should possess:

¢ Good work ethics,

¢ A positive upbeat attitude,
¢ Team player with leadership skills and

willingness to learn.

If this sounds like you

Please forward resume inclusive of contacts -
to the following email for review
marketingtalentwanted@yahoo.com

All submissions must be received by June
12th, 2008 for consideration.

Viable candidates will be contacted to
schedule interviews being conducted on
the 13th and 16th of June.

Job Opportunity

Software Trainer

Are you an energetic Motivator,

an Excellent communicator with a passion
to work with a professional Team? ©

If we've piqued your interest, Let's Talk!

Skills required:

¢ A Bachelor’s Degree in Finance

‘ ¢ Minimum of five (5) years experience in
finance company management

Minimum of five (5) years experience in the
consumer purchase lending industry

Minimum of three (3) years experience in
the use and training of EnCompass and the
ability to train a team of at least 10 people.

Proficient in IBM DB2 file query utilities
Working knowledge of Microsoft Office

Nageaure ° Gind Bahaina © World Wide Web

Please submit your application by Mail to:
Director of Human Resources, The Plus Group
P.O. Box N713, Nassau, Bahamas

or eMail: jobs@theplusgrp.com

We thank all applicants, however only those
selected for an interview will be contacted.



based automaker said last
month it no longer expected
to return to profitability by
2009. Ford fell 23 cents, or 3.6
per cent, to $6.13.

XTO Energy Inc. said it is
acquiring privately held Hunt
Petroleum Corp. for $4.19 bil-
lion in cash and stock. XTO
said Hunt’s assets, plus last
month’s acquisition of Head-
ington Oil Co., prompted it to
increase its 2008 production
growth target to 28 to 30 per
cent. XTO rose $2.42, or 3.6
per cent, to $70.14.

Declining issues outnum-
bered advancers by about

three to one on the New York
Stock Exchange, where vol-
ume came to 244 million
shares.

The Russell 2000 index of
smaller companies fell 0.73, or
0.10 per cent, to 734.52.

Bernanke’s comments
caused selling overnight in
Asia, where the Nikkei 225
average closed 1.1 per cent
lower.

In afternoon trading,
Britain’s FTSE 100 index lost
0.12 per cent, Germany’s DAX
index gave up 0.33 per cent,
and France’s CAC-40 declined
0.22 per cent.

VICE PRINCIPAL
NEEDED

The Anglican Central Education Authority invites
applications from qualified Bahamians for the position of
VICE PRINCIPAL of Bishop Michael Eldon School
beginning September 2008.

The applicant must.have a Degree in Education from a
recognized University, with at least 5 years accumulative
experience. The. applicant must also be computer literate.

Key job functions and responsibilities include:

- Assisting with staff supervision and evaluation

_ - Admissions and student orientation
- Scheduling (Timetables; examinations, invigilations)
- Assisting with discipline
- Assisting with supervision of academic programmes
- Assisting with Curriculum Development.
- Administration of School and External examinations
- Inventory
- Requisitions

Applicants should submit a cover letter, Curriculum Vitae,
copies.of degree certificates, three references and passport °
photographs to:

_. THE DIRECTOR OF EDUCATION
ANGLICAN CENTRAL EDUCATION AUTHORITY
P.O. BOX N-656
NASSAU, BAHAMAS

The Deadline for Applications is .
Friday, June 27th, 2008



COMMONWEALTH OF THE BAHAMAS ; 2008
IN THE SUPREME COURT
Commercial Division

COM/com/00011

IN THE MATTER OF THE NATIONAL INSURANCE
BOARD

AND

IN THE MATTER OF SECTION 187 OF THE
COMPANIES ACT CHAPTER 308

AND

IN THE MATTER OF THE ACTION OF THE NATIONAL
INSURANCE BOARD

NOTICE is hereby ene: that a Petition for the winding
up of the above named Company by the Supreme Court
of The Bahamas was, on 12th Day of March, 2008
presented to the said Court by Anthony M. Wright of
45 Brighton Drive, of The City of Freeport in the Island
of Grand Bahama.

‘AND that the said Petition is directed to be heard before
Mrs. Donna Newton, a Registrar of the Supreme Court,
sitting at Nassau on the 2nd day of July, 2008 at 12:00
o'clock in the afternoon, and any creditor or contributory
of the said Company desirous to support or oppose the
making of an Order on the said Petition may appear at
the time of the Hearing in person or by his Counsel for
that purpose; and a copy of the Petition will be furnished
by The undersigned to any creditor or contributory of
the said Company requiring such copy on Payment of
the regulated charge for same.

Dated this 4th day of June, 2008

Anthony M. Wright
No. 17 Baldwin Avenue (Off Farrington Road)
P.O. Box N-197
Telephone: (242) 323-6759
Nassau, Bahamas |

Note: Any person who intends to appear on the hearing
of the said Petition, either to oppose or support, must
send notice of his intention to the Petitioner, within the
time and manner prescribed by rule 25. The notice must
state the name and address of the person, or, if a firm,
the name and address of the firm, must be signed by
the person or firm, or his or their attorney (if any) and
must be served, or if posted, must be sent by post in
sufficient time to reach the Petitioner not later than 4:00
o'clock in the afternoon of the Ist day of July A.D.,
2008.



PAGE 6B, WEDNESDAY, JUNE 11, 2008

THE TRIBUNE





Small businesses fight to

@ By RAMIT
PLUSHNICK-MASTI
Associated Press Writer

PITTSBURGH (AP) —
Small business is risky business
these days.

Costs are rising, profits are
shrinking and the ability of the
big guys to keep prices rela-
tively lower is drawing away
customers.

Things are so bad that many
small enterprises, which

. account for about 99 per cent
of the country’s businesses, say
they are hanging by a thread
that may soon snap.

“We are basically losing
money every month, about
$1,000 a month. It’s been about

two, three months now,” said

Tom Weisbecker.
Weisbecker owns Isaly’s in

western Pennsylvania where

patrons sit on green barstools

at a Formica countertop and
gobble the legendary Slammer,
a sandwich stuffed with a half-
pound of chipped ham and
smothered in onions and
cheese. Prices for many of
those ingredients have sky-
rocketed in the past year.

“We know our customers
are already feeling the pinch
with the gas prices and when
they go to the grocery store.
We're trying to hold out, but
we can’t go on much longer,”
said Weisbecker.

In barely a year, the cost of
pork has jumped by 50 cents
a pound, while beef is up 20
per cent; a five-gallon jug of
canola oil that used to cost $15
is at $40; a 50-pound bag of
flour jumped from $7 to
between $20 and $25.

And then there are fuel sur-
charges of between $5 and $9
that have been added to near-

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, CORIE MEZADIEU of
JFK Dolphin Drive, P.O. Box N-3237, Nassau, Bahamas,
intend to change my name to MALIK KWEBEN. If there are
any objections to this change of name by Deed Poll, you
may write such objections to the Chief Passport Officer,
P.O.Box N-742, Nassau, Bahamas no later than
thirty (30) es after the date of publication of this
notice.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that |, ELNECKER SANDRENA
FORBES also known as ELMSEKER SANDRENA FORBES of
Stapledon Gardensin the Western District of New Providence,
7 intend to change my name to ELNICKA SANDRENA FORBES. If
there are any objections to this change of name by Deed Poll,

you may write such objections to the Chief Passport Officer,

P.O.Box N-742, Nassau, Bahamas no later than thirty (30)
days after the date of publication of this notice. ~

NOTICE
INTERNATIONAL BUSINESS COMPANIES ACT ~,
(No, 46 of 2000). ee

! R.R. INVESTMENT HOLDING COMPANYLTD..
(In Voluntary Liquidation)

NOTICE is hereby given that in accordance with Section 138 of the Interna-
tional Business Companies Act No. 46 of 2000, R.R: INVESTMENTS HOLD-
ING COMPANY LTD. is in Dissolution.

Any person having a Claim against the R.R. INVESTMENTS HOLDING
COMPANY LTD. is required on or before the 24th day of June 2008 to send
their name, address and particulars of the debt or claim to the liquidator. of the
Company, or in default thereof they may be excluded from the benefit of any
distribution made before such claim is approved.

We, Redcorn Consultants Limited, of 2nd Floor, Ansbacher House, Shirley
and East Streets North, is the Liquidator of R.R. INVESTMENTS HOLDING
COMPANY LTD.

“TRED

ly all deliveries during the past
six months.

In the meantime, wages —

haven’t grown and the job
market is tepid, at best. On Fri-
day, the Labour Department
said the nation’s unemploy-
ment rate jumped to 5.5 per
cent in May — the biggest
monthly rise since 1986 — as
wary employers‘cut 49,000
jobs. Average hourly earnings
for jobholders rose to $17.94
in May, up 0.3 per cent from
the previous month.

The feeble employment
market may be making con-
sumers less willing to spend.

‘Also, paychecks aren’t going

as far as they did before food
and fuel costs rose.

“In a good economy, you
can makes mistakes. But in a
bad economy ... you can’t
afford to make a mistake,” said
Larry Lagattuta.

“I am three very bad deci:
sions away from bankruptcy at
any given time,” said Lagat-
tuta, who has been running
Enrico Biscotti Co. on the
Pittsburgh Strip for 15 years.

Over Christmas, he made
hundreds of shipments; 2007
was his best year ever. |

The last quarter was his
worst. ;

A National Small Business
Association survey of 500 small
business owners in February

te er Stop at eBay National Small Business ahr



Charles Dharapak/AP

REPUBLICAN presidential candidate Senator John McCain, R-Ariz., gives a thumbs up during a campaign
stop at the National Federation of Independent Business (NFIB) and eBay 2008 National Small Business

Summit in Washington yesterday...

dropped and job growth was
at the lowest point in 15 years,

found that sales and profits had

ONT CTT

Bahamian Manager for Super Store,
5 or more years experience.

Send anni to Fax:

_ 328-8798

NOTICE

NOTICE is ey POE that RONY ST. FLEUR of
EAST STREET, BOX EE-15467, NASSAU,
. BAHAMAS, is. appl qi to.:the Minister. ‘responsible
for Nationality an itizenship, for .registration/
: naturalization as.a citizen of The Bahamas, and that
any person.who.knows ¢ aN: reason why. registration/
uralization should not be granted, should send

: written and signed statement of the facts within
twenty- eight days from the 4TH day of JUNE 2008
to the Minister responsible for Nationality and
Citizenship, P.O.Box

NOTICE

NOTICE is hereby given that WILLY FRANCOIS of
KEMP ROAD, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas,
and that any person who knows any reason why
registration/ naturalization should not be granted, should
send a written and signed statement of the facts within
twenty-eight days from the 11TH day of JUNE 2008 to

- 7147, Nassau, Bahamas.

problems that could have a sig-
nificant impact on an already
shaky US economy.

The survey also found that
71 per cent of business own-
ers have a “negative outlook”
on the economy compared to
43 per cent a year ago; confi-
dence in their business’ suc-
cess dropped from a high of 81
per cent-a year ago to 70 per

cent now.

A separate survey aan: by
the National Federation of
Independent Business found
that for the first time in 25
years, small business owners
cited inflation as their single

‘biggest concern, rising from

COMMONWEALTH OF THE BAHAMAS

IN THE SUPREME COURT

Equity Side

four per cent a year ago to 14
per cent in April.

The survey of more than
1,765 businesses showed that
for the first time in a decade,
skyrocketing insurance costs
were not the No. 1 concern.

As gas and food prices
climb, consumers are bypassing
small businesses and seeking
out bargains in places like
Costco Wholesale Corp., which
reported a 32 per cent jump in
its fiscal third-quarter profit,
surpassing Wall Street expec- —
tations.

SEE next page

2008
No.00198

sIN THE MATTER OF :all'those:piece

parcels or lots of

land totaling one

hundred and seventeen and thirty

hundredths (117.30) acres and situate
north of Buckley’s Estate in the vicinity
of Toby Bay inthe ‘Southern section of
the settlement of Deadman’s Cay in the
Island of Long Island, The Bahamas.

AND .
IN THE MATTER OF the Petition of
Emma V. Wells, Rosena E. Pyfrom,
Tennyson R.G. Wells, Iris L. Pinder,
Charles M. Wells and Richard E. Wells.
AND

IN THE MATTER OF the Quieting Titles Act 1959

NOTICE

The Petitioners in this matter claim to be the owner in: fee simple
possession of the tract of land hereinbefore described and the Petitioner
has made an application to the Supreme Court of the Commonwealth
of the Bahamas under Section 3 of the Quieting Titles Act 1959 to have
his title to the said land investigated and the nature and extent thereof

_ determined and declared in the Certificate of Title granted by the Court in
accordance with the provisions of the said Act.

the Minister responsible for Nationality and eiizenship,

Liquidator P.O.Box N- 7147, Nassau, Bahamas.

NOTICE

Copies of the Plan may be inspected during normal office hours at:

EXXONMOBIL ABU DHABI
(ONSHORE GAS) LIMITED

Pursuant to the provisions of Section 137 (8)
of the International Business Companies Act
2000, notice is hereby given that the above-
named Company has been dissolved and
struck off the Register pursuant to a Certificate

(1) The Registry of the Supreme Court.
(2) The Administrators Office at Clarence Town, Long Island.
(3) The Chambers of the undersigned.

Colina aeae

COLINA HOLDINGS BAHAMAS LIMITED NOTICE IS HEREBY GIVEN that any person having dower or right

to dower or an adverse claim or a claim not recognized in the Petition
shall before the 30th day of June, A.D.,2008 from the publication of the
notice inclusive of the day of such publication file Notice in the Supreme
Court in the City of Nassau in the Island of New Providence aforesaid
and serve on the Petitioner or the undersigned a statement of his or her
claim in the prescribed form verified by an Affidavit to be filed therewith.
The failure of any such person to file and'serve a statement of his or her
claim within the time fixed by the Notice aforesaid shall operate as a bar

NOTICE OF ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN that the statutory meeting of
the above Company required to be held by Section 70(2)

of Dissolution issued by The Registrar General
on the 25th day of April, A.D., 2008.

Dated the 9th day of June, A.D., 2008.

MaryBeth Taboada
Liquidator of
EXXONMOBIL ABU DHABI
(ONSHORE GAS) LIMITED



CHEVROLET

of the Companies Act, 1992 will be held at the J.W. Pinder
Building, Colinalmperial. Insurance Ltd., Collins Avenue,
Nassau, Bahamas on Wednesday, the 11" day of June
2008 at 5:30p.m.

Dated Monday, the 9" day of June 2008

Michelle C. E..Fields
Secretary



em aCe ee umetile stele siec

to such claim.

Dated this 14th day of April, A.D., 2008

PYFROM & CO,
Chambers
No.58, Shirley Street,
Nassau, N.P., Bahamas.

Attorneys for the Petitioners.





THE TRIBUNE



WEDNESDAY, JUNE 11, 2008, PAGE 7B

(MNRAS Nn aa a de
survive in tough economy

“The bad thing that’s hap-
pening to us, is the economy
is driving people to shop at the
big-box stores. They can buy
their staples and pick other
things up so they don’t have
to use gasoline,” said Cindy
Baker, who has been a gift
shop owner for 20 years, half at
her current location, Collage,
in Pittsburgh’s bustling Strip
District.

“This is the first time, even
taking 9/11 into consideration,
I can say I’ve really seen a
pinch in my business,” she said.

Just like airlines and car
companies, some small busi-
ness owners are shrinking and
letting people go to survive the
squeeze.

Last month, the Oklahoma
City gas station owned for 22
years by brothers Harley and
Hadley Hintergardt shut its
doors for good because of ris-
ing gas prices. Harley Hinter-
gardt said the station suffered
because unlike big chain gas
stations, they didn’t have a
convenience store or full-ser-
vice auto shop to fall back on.

“We were the victim of high
gas prices,” Hintergardt said.
“Everybody thinks that we
were making the money selling
at the pump at the gas station.
And trust me, we were not.”

Small businesses, measured
by the US Small Business
Administration as those with
fewer than 500 workers,
employ some 58.6 million peo-
ple, more than half of the total

US labour force. In the past
decade, they have generated
between 60 per cent to 80 per
cent of new jobs, and in 2004
all the new jobs.

While no data is available
on how many small businesses
have gone under in the past six
months, federal officials are
reporting a decline in the num-
ber of loans they guarantee, a
consequence of both lower
demand and tighter standards.

Experts say the shrinking
demand indicates businesses
are reluctant to take on debt
and expand. Many would-be
entrepreneurs are hesitant to
open new businesses.

Eric Bradlow, a marketing
professor at the University of
Pennsylvania’s Wharton

School of Business, said that.

in the best of times, 90 per cent
of businesses shut down in the
first year. The Small Business
Administration notes that one-
third close within two years
and only 44 per cent survive
four.

“Anecdotally, you hear that
this is a very difficult period
because of higher gas prices
and higher component
prices...definitely in the past 10
to. 15 years,” says Bradlow,
who is also a director in Whar-

ton’s Small Business Develop- .

ment Center.

It’s an environment that also
makes it difficult for small busi-
nesses to raise prices to cover
their costs.

The Pittsburgh Popcorn

Eagle
TEAM ATE Ree rTP
just call 322-1986 today!

Legal Notice

NOTICE

BOSANSKA INC.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of BOSANSKA INC. has been completed;
a Certificate of Dissolution has been issued and the Com-

pany has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator)









East Bay St.

NOTICE

Pursuant to the provisions of Section 137 (4) (a), (b)
and (c) of the International Business Companies Act,
2000, notice is hereby given that:-

C.B. Strate
LIQUIDATOR



(a) Twinkle Limited is in dissolution;

(b) The date of commencement of the dissolution
is the 26th day of May, A.D., 2008 and

(c) the Liquidator is C.B. Strategy Ltd., of 308

Company is feeling that pain.
It opened on March 1, since
then, the price of packaging
tins has tripled. Other food
costs have risen between five
per cent and 30 per cent, the
hardest hit being canola oil and
chocolate.

The company’s owners,
Janelle and Rob Day, are
reluctant to raise prices,
though. The enterprise is new
and they are afraid of driving

having a less hard time right
now than food or apparel
stores.

“Business has actually been
steady for us. We haven’t seen
a large drop-off,” said Bradley
Bodart, who owns Daly’s Pen
Shop in Milwaukee. “Our cus-
tomers tend to be more well-
to-do, people who don’t shy
away from a $600 pen, so
they're : not too affected by gas
prices.’



Ltd.






Bodart understands that
people are surprised by his suc-
cess.

“T see people walk by the
store and they whisper, ‘How
does that place stay in busi-
ness?’” he said. “It’s because
it’s a niche business. There
aren’t too many people about
to start up a pen shop.”

e AP Business Writer Dinesh
Ramde in Milwaukee con-
tributed to this report.

away patrons.

“JT. want to attract customers,
that’s my primary goal,” Rob
Day said.

Only when it is certain peo-
ple will keep buying, will Day
raise prices. “Whether that’s.a
month, or two months or three
months, I don’t know,” he says.

Not all small businesses are
feeling the pinch, however.
Thvse that cater to the wealthy
or have niche products may be

NOTICE

~ NOTICE is hereby given that SHALLAYWA VARITA HINDS
OF #24 CHICHESTER CRESCENT, P.O. BOX F-41483,
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
4th day of JUNE, 2008 to the Minister responsible for Nationality
‘and. Citizenship, P.O.Box N-7147, Freeport, Bahamas.

PUBLIC NOTICE

INTENT TO. CHANGE NAME BY DEED POLL

The Public is hereby advised that |, DOROTHY P, LEYLEGIAN
of the Western District of the Island of New Providence of
the Islands of the Commonwealth of The Bahamas, intend
to change my name to DOROTHY P. BAKER. If there are any
objections to this change of name by Deed Poll, you may write
such objections to the Chief Passport Officer, RO.Box N-742,
Nassau, Bahamas no later than thirty (80) days after the
date of publication of this notice.



NOTICE

. NOTICE is hereby given that CLEMENT LAFRANCE of
FAITH AVENUE NORTH, CARMICHAEL RD., NASSAU,
_3AHAMAS, is applying to the Minister responsible for
Nationality arid 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
4TH day.of JUNE 2008 to the Minister responsible for
Nationality and Citizenship, PO.Box N- 7147, Nassau,
Bahamas.

Abaco Markets

Bahamas Property Fund
Bank of Bahamas
Benchmark

Bahamas Waste

Fidelity Bank

Cable Bahamas

Colina Holdings .
Commonwealth Bank (S1)
Consolidated Water BDRs
Doctor’s Hospital
Famguard

Finco

FirstCaribbean

Focol (S)

Focol Class B Preference
Freeport Concrete o
ICD Utilities ‘
J. S. Johnson

Bahamas Supermarkets .
Caribbean Crossings (Pref)
RND Holdings

52wk-Low
1.2485
2.7399
1.3410
3.2920
11.6049
100.0000
98.2100

Fund Name
Colina Bond Fund
Colina MSI Preferred Fund
Colina Money Market Fund
Fidelity Bahamas G & | Fund
Fidelity Prime Income Fund
CFAL Global Bond Fund
CFAL Global Equity Fund
CFAL High Grade Bond Fund
Fidelity International Investment Fund

1.315228***
2.998763***
1.392290***
3.6960*****
12.1564****
100.00**
99.956603*
1.00**

9.88

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

52wk-Hi - Highest closing price in last 52 weeks

52wk-Low - Lowest closing price in last 52 weeks

Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for dally volume
Change - Change in closing price from day to day

Daily Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months

P/E - Closing price divided by the last 12 month earnings

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



YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity

Ask $ - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol.
EPS $ - 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

Tel 328-3908

Shirley Street
www.nassaumotor.com

NOTICE

NOTICE is hereby given that GALEN WILLIAM
JOHNSTON of 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 11TH day of JUNE 2008 to
the Minister responsible for Nationality and Citizenship,
P.O.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that PAULA HUDSON OF #24
CHICHESTER CRESCENT, P.O. BOX F-41483, 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 4th
day of JUNE, 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.

NOTICE

NOTICE is hereby given that YYVENEL BROWN of
HAMTER ROAD OFF FAITH AVENUE; 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
11TH day of JUNE 2008 to the Minister responsible for
Nationality and Citizenship, P.O.Box N- 7147, Nassau,
Bahamas.



Employment Opportunity

A Corporate and Financial Services Firm based in Nassau
is seeking to recruit a highly competent: professional for the
following position: /

MANAGER

: The position is best suited for results oriented, hard working individuals
able to work in a team environment.

Requirements —

Masters Degree in International Relations

At least two (2) years of work experience in Europe

At least three (3) years experience in the Corporate Services fi aa
Strong organizational and analytical skills)

Excellent command of computer knowledge: (MS Applications)

Interested candidates should send their CV by email to:
NBissiney@ajkbah.com Deadline: 12th June, 2008



FG CAPT

TAL MARKETS
BROKERAGE & ADVISORY SERVICES

Weekly Vol. EPS $ Div $

fo
1.58%

-0.07%
1.25%

-2.66%
1.87%

-0.04%

- 31 March 2008

* - 31 December 2007
'* - 30 May 2008

** - 31 April 2008

- Trading volume of the prior week ~ 30 April 2008



Buy a brand new Chevy from NMC
now through June 30 and get

$500 of FREE GAS!

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mile factory warranty.





PAGE 8B, WEDNESDAY, JUNE 11, 2UU5

@® Chartered Accountants © Phone: (242) 502-6000
ei) ERNST & YOUNG One Montague Place Fax: (242) 502-6090
Third Floor www.ey.com
East Bay Street
P.O. Box N-3231

Nassau, Bahamas

Independent Auditors’ Report to the Board of Directors and Shareholder of
SG Hambros Bank & Trust (Bahamas) Limited

We have audited the accompanying consolidated balance sheet of SG Hambros Bank & Trust
(Bahamas) Limited as at December 31, 2007, and a summary of significant accounting policies and
other explanatory notes.

Management's Responsibility for the Balance Sheet ei :
Management is responsible for the preparation and fair presentation of the balance sheet in
accordance with Intemational Financial Reporting Standards. This responsibility includes:
designing, implementing and maintaining internal control relevant to the preparation and fair
presentation of balance sheet that is free from material misstatement, whether due to fraud or error;
selecting and applying appropriate accounting policies; and making accounting estimates that are
reasonable in the circumstances.

Auditors’ Responsibility
Our responsibility is to express an opinion on the balance sheet based on our audit. We conducted

our audit in accordance with International Standards on Auditing. Those standards require that we
comply with ethical requirements and plan and perform the audit to obtain reasonable assurance
whether the balance sheet is free from material misstatement.

An audit involves performing procedures to obtain evidence about the amounts and disclosures in
the balance sheet. The procedures selected depend on the auditors’ judgment, including the
assessment of the risks of material misstatement of the balance sheet, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entity's
preparation and fair presentation of the balance sheet in order to design audit procedures that are
appropriate 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 balance sheet.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinion.

In our opinion, the consolidated balance sheet presents fairly, in all material respects, the financial
position of SG Hambros Bank & Trust (Bahamas) Limited as of December 31, 2007 in accordance

with International Financial Reporting Standards.

May 28, 2008
ee A member firm of Ernst & Young Global Limited
SG Hambros Bank & Trust (Bahamas) Limited
Consolidated Balance Sheet
December 31, 2007
2007 2006
$°000 $°000
Assets ;
Cash and balance with Central Bank . 415 _ 452
Loans and advances to banks , 368,089 ‘ 500,255
Loans and advances to customers (note 3) 43,682 : 47,188
Financial investments available-for-sale (note 4) 364,907 424,385
Financial investments held-to-maturity (note 4) 5,884 7,757
Accounts receivable 2,844 2,113
Property and equipment, net (note 5) 12,395 * 13,727
Other assets (note 6) 4,382 6,248
Pension plan asset (note 7) -3,476 3,366
Total assets 806,074 1,005,491
Liabilities and shareholder’s equity
Liabilities :
Loans and advances from banks 5,354 8,865
Customer deposits . 764,689 957,249
Other: liabilities (note 8) 9,011 *iiisdsit roeng 7687
Pension plan liability (7) 610 242
Post-employment healthcare plan liability (note 7) paiisen! 2,031 Se iecesieal 1,220
Total liabilities .
Shareholder’s equity
Share capital: :

Authorised — 75,000 shares of B$57.15 each ;

Issued and fully paid — 35,001 shares 2,000 2,000
Contributed surplus 8,265 8,266
Retained earnings 18,126 17,656
Available-for-sale reserve (4,012) 525
Total shareholder’s equity — - 24,379 28,447
Total liabilities and shareholder’s equity 806,074 1,005,491

Commitments and contingencies (note 9)




” Approved By The Bo
Director

ys Director

1. Corporate Information



SG Hambros Bank & Trust (Bahamas) Limited (the Bank) is incorporated under the laws of the

“Commonwealth of The Bahamas and its principal activities include banking, investment advisory
services, trust and company administration and fund management.. The Bank is a wholly-owned
subsidiary of SG Hambros Bank and Trust (United Kingdom), whose ultimate parent company is
Société Générale SA which is incorporated in France. The consolidated financial statements of the
group are available from the Company Secretary, Societe Generale, 29 Boulevard Haussmann,
75009 Paris, France,

The registered office of the Bank is located at West Bay Street, Nassau, Bahamas.

The consolidated balance sheet has been approved for issue by the Directors of the Bank on May
28, 2008.

ult

2. Summary of Significant Accounting Policies

Statement of compliance
The consolidated balance sheet has been prepared in accordance with International Financial
Reporting Standards (IFRS).

Basis of preparation .

‘The consolidated balance sheet has been prepared on an historical cost basis except for available-
for-sale financial investments, financial assets and financial liabilities held at fair value through
profit or loss that have been measured at fair value.

The consolidated balance sheet is presented in United States dollars. The preparation of the balance
sheet requires management to make estimates and assumptions that affect the reported amounts and
disclosures in the balance sheet. Actual results could differ from those estimates.

Comparative figures are reclassified, where necessary, to conform to changes in presentation in the
current period so that the reclassifications will result in a more appropriate presentation of events
and transactions. ;

Basis of consolidation
The accompanying consolidated balance sheet includes the balance sheet of the Bank and those of

its wholly-owned subsidiaries, Adansonia Investments Limited, Bannervale Investments Limited, .

Dragonian Investments Limited, Goshen Investments Limited, Maridi Investment Company
Limited and SG Hambros Corporate Services (Bahamas) Limited, all of which are nominee non-
trading companies and are incorporated under the laws of the Commonwealth of The Bahamas. All
significant intercompany accounts have been eliminated on consolidation. The balance sheet of the
subsidiaries are prepared for the same accounting period using consistent accounting policies.

Adoption of IFRSs during the year

The Bank has adopted the following new and amended IFRSs and IFRIC interpretations during the
year. Adoption of these revised standards and interpretations did not have any effect on the
financial performance or position of the Bank. They did however give rise to additional
disclosures, including in some cases, revisions to accounting policies.

e

Ime I(Mtlwe.

IFRS 7 Financial Instruments: Disclosures
IAS1 Amendment — Presentation of Financial Statements

The principal effect of the changes to the disclosures in the consolidated balance sheet is as follows:

IFRS 7 Financial Instruments: Disclosures

This standard required disclosures that enable users of the financial statements to evaluate the
significance of the Bank’s financial instruments and the nature and extent of risks arising from
those financial instruments. The new disclosures are included throughout the consolidated balance
sheet. While there has been no effect on the financial position or results, comparative information
has been revised where needed.

IAS 1 Amendment — Presentation of Financial Statements :
This amendment requires the Bank to make new disclosures to enable ttsers of the consolidated
balance sheet to evaluate the Bank’s objectives, policies and processes for managing capital.

Financial assets t

Financial assets in the scope of LAS 39 are classified as financial assets at fair value through profit
az loss; loans and receivables; held to maturity investments; or as available-for-sale financial
investments, as appropriate. The Bank determines the classification of its financial assets at initial
recognition and re-evaluates this designation at each financial year end. All financial assets are
measured initially at their fair value.

All regular way purchases and sales of financial assets are recognised on the trade‘date, being the
date that the Bank commits to purchase or sell the asset. Regular way transactions require delivery
of assets within the timeframe generally established by regulation or convention in the market
place. The subsequent measurement of financial assets depends on their classification.

At December 31, 2007 the Bank’s primary financial assets are represented as follows:

(i) Investments available-for-sale
Available-for-sale financial investments are financial assets which the Bank has designated as
such and represents floating rate notes, where the interest rate is tied to the one-month or three-
month LIBOR plus a fixed spread. These investments are recorded on a trade date basis.

After initial measurement, available-for-sale financial investments are subsequently measured at
fair value. Unrealized gains and losses are recognized directly in equity in the ‘available-for-
sale reserve’. When the security is disposed of, the cumulative gain or loss previously
recognized in equity is recognized in the consolidated statement of income and re:aiaed
earings . Where the Bank holds more than one investment in the same security they are
deemed to be disposed of on a first-in first-out basis.

(ii) Investments held-to-maturity :

Held-to-maturity financial instruments are those which carry fixed or determinable payments
and have fixed maturities and which the Bank has the intention and ability to hold to maturity.
Investments held-to-maturity are financial.assets which the Bank intends to hold to maturity and
represent U.S. Government Securities. These securities are stated at amortized cost (which
approximates market value), using the effective interest rate method, less allowance for
impairment. Amortized cost is calculated by taking into account any discount or premium on
acquisition, over the period to maturity. Investments are recorded on a trade date basis.

(iii) Loans and advances. . ;
Loans and advances are financial assets with fixed or determinable payments and fixed
maturities that are not quoted in the active market. They are not entered into with the intention
of immediate or short-term resale and are not classified as “held for trading”, “available for
sale” or “financial assets designated at fair value through profit or loss”. Loans and mortgages
are stated at the principal amount outstanding adjusted for charge-offs and provision for loan
losses. Management’s periodic evaluation of the adequacy of the provision is based on the
Bank’s past loan loss experience, known and inherent risks in the portfolio, adverse situations
that may affect the borrower’s ability to repay, the estimated value of any underlying collateral,
and current economic conditions. No loans were considered impaired at December 31, 2007
(2006 — nil).

(iv) Derivatives : :
Derivatives include forward foreign exchange contracts and are recorded at fair value.
Derivatives are carried as assets when their fair value is positive and as liabilities when their
fair value is negative. Derivatives embedded in other financial instruments, such as structured
products are treated as separate derivatives and recorded at fair value if their economic
characteristics and risks are not closely related to those of the host contract and the host
contract is not itself held for trading or designated at fair value through profit or loss. The
embedded derivatives separated from the host are carried at fair value in the trading portfolio.

Accounts receivable

Accounts receivable are stated at original invoice amount less any provision for doubtful debts. An
estimate for doubtful accounts is made on a specific identification basis, when collection of the full
amount is considered no longer probable. There was no provision for doubtful debts necessary as
of December 31, 2007 (2006 — nil). Bad debts are written-off as incurred.

Derecognition of financial assets and financial liabilities
(i) Financial assets
A. financial asset (or, where applicable a part of a financial asset or part of a group of similar
financial assets) is derecognised where: ° vansstveenieyp? S whasearyh
e the rights to receive cash flows from the asset have expired; or
e the Bank has transferred its rights to receive cash’ flows from the assét or has assumed an
‘obligation to pay the received cash flows in full without material delay to a third party
under a ‘pass-through’ arrangement; and
either (a) the Bank has transferred substantially all the risks and rewards of the asset, or

(b) the Bank has neither transferred nor retained substantially all the risks and rewards of
the asset, but has transferred control of the asset. “I

a

When the Bank has transferred its rights to receive cash flows from an asset or has entered into a
pass-through arrangement, and has neither transferred nor. retained substantially all the risks and
rewards of the asset nor transferred control of the asset, the asset is recognized to the extent of the
Bank's continuing involvement in the asset. Continuing involvement that takes the form of a
“guarantee’ over the transferred asset is measured at the lower of the original carrying amount of the
asset and the maximum amount of consideration that the Bank could be required to repay.

(ii) Financial liabilities

A financial liability is derecognized when the obligation under the liability is discharged or
cancelled or expires. Where an existing financial liability is replaced by another from the same
lender on substantially different terms, or the terms of an existing liability are substantially

"modified, such an exchange or modification is treated as a derecognition of the original liability and

the recognition of a new liability, and the difference in the respective carrying amo’ i
. . a ts
_Tecognised in profit or loss. e 5 at

Impairment and uncollectibility of financial assets

An assessment is made at each balance sheet date to determine whether there is objective evidence
that a financial asset or group of financial assets may be impaired. If such evidence exists, the
estimated recoverable amount of that asset is determined and an impairment loss is recognized for
the difference between the recoverable amount and the carrying amount. The Bank did not record
any impairment adjustments at December 31, 2007 (2006 — nil).

Property and equipment
Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated
on the straight-line basis over the estimated useful lives of the assets as follows:

Building 40 years
Fumiture and fixtures 5-10 years
Motor vehicles S years +.
E.D.P. - Software _ S years
E.D.P. - Hardware 5 years
Machinery and equipment 3— 5 years

The carrying amounts of property and equipment are reviewed at each balarice sheet date to assess
whether they are recorded in excess of their recoverable amounts, and where carrying values exceed
this estimated recoverable amount, assets are written down to their recoverable amount. No such
write-downs have been recorded by the Bank. ;

Accounts payable and accrued liabilities

Liabilities for accounts payable and accrued liabilities, which are normally settled on 30-60 day
terms, are carried at cost, which is the fair value of the consideration to be paid in the ‘uture for
goods and services received. Payables to related parties are carried at cost. Accounts payable and
accrued liabilities are reported in other liabilities on the consolidated balance sheet.

Provisions

Provisioris are tecognized when the Bank has a present obligation (legal or constructive) as a result ”
of a past event, it is probable that an outflow of resources embodying economic benefits will be
required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

Pensions and other post-employment benefits

The Bank operates a defined contribution pension plan and two defined benefit pension plans
which require contributions to be made to separately administered funds. The Bank also provides
defined benefit post-employment healthcare benefits to its retirees which are unfimded. The cost of
providing the defined benefits under these plans is determined separately for each plan using the
projected unit credit actuarial valuation method. Actuarial gains and losses ure Tecognized as
income or expense when the cumulative unrecognized actuarial gains or losses for each individual
plan exceed 10% of the greater of the defined benefit obligation or the fair value of plan assets.
These gains or losses are recognized over the expected average remaining working lives of the

employees participating in the plans. Actuarial valuations are performed by qualified independent
actuaries. *

Translation of foreign currencies
Monetary assets ‘and liabilities denominated in currencies other than United States dollars, the

functional and presentation currency of the Bank, are translated at the rates of exchange prevailing
at the year end.

Related party balances
All balances with the ultimate parent company or its subsidiaries are shown in the consolidated
balance sheet as related party.

SA TIS LSA

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_ THE TRIBUNE

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Assets under management ae :
No account is taken in these consolidated balance sheet of assets and liabilities of clients managed
and administered by the Bank or its subsidiaries as custodian, trustee or nominee, other than those
assets and liabilities which relate to the banking services provided by the Bank or its subsidiaries
for their clients.

IFRSs and IFRIC Interpretations not yet effective .
Early adoption :
The Bank did not early adopt any new standards during the year.

The Bank has not applied the following IFRSs and IFRIC Interpretations that have been issued but
are not yet effective: :

IFRS 8 ing Segments, requires disclosure of information about the Bank’s operating
ae oe a requirement to determine primary (business) and secondary (geographic)
reporting segments in the Bank. This standard becomes effective for annual periods beginning on
or after January 1, 2009, and as a result, certain disclosures may be added to the Bank’s
consolidated balance sheet upon adoption.

IAS 23 was issued in March 2007, and. becomes effective for financial years beginning on or after
January 1, 2009. The standard has been revised to require capitalization of borrowing costs when
such costs relat to a qualifying asset. The adoption of this interpretation is not expected to have an
impact on the consolidated balance sheet when implemented in 2009.

IFRIC 11 was issued in November 2006, and becomes effective for financial years beginning on or
after March 1, 2007. This interpretation addresses group and treasury share transactions related to
share-based payments to employees. As equity instruments are only issued to employees in
accordance with the employee equity participation plans, the interpretation will have no impact on
the Bank.

IFRIC 12 was issued in November 2006, and becomes effective for financial years beginning on or
after January 1, 2008. This interpretation gives guidance on the accounting by. operators for public-
to-private service concession arrangements. This interpretation is not expected to be relevant for the
activities of the Bank.

IFRIC 13 was issued in June 2007 and becomes effective for annual periods beginning on or after
July 1, 2008. This interpretation requires customer loyalty award credits to be accounted for as a
separate component of the sales transaction in which they are granted and therefore part of the fair
value of the consideration received is allocated to the award credits and deferred over the period
that the award credits are fulfilled. The adoption of this interpretation is not expected to have an
impact on the consolidated balance sheet when implemented in 2008.

IFRIC 14 was issued in July 2007 and becomes effective for annual periods beginning on or after
January 1, 2008. This interpretation provides guidance on how to assess the limit on'the amount of
surplus in a defined benefit scheme that can be recognized. as an asset under IAS 19 Employee
Benefits. The adoption of this interpretation is not expected to have an impact on the consolidated -
balance sheet when implemented in 2008.

3. Loans and Advances

2007 2006

: $°000 $7000

Demand loans 25,970 , 25,280
Fixed-term loans 6,521 6,164
Mortgages rd 11,191 15,744
43,682. 47,188

Loans and mortgages are denominated primarily in United States dollars and United Kingdom
pounds. Loans are secured primarily by cash deposits and marketable United States securities.
Mortgages are secured primarily by real estate located in The Bahamas. The total lending value of
all collateral held against outstanding loans at December 31, 2007 was $302 million (2006 - $283
million).

At December 31, 2007, theré are no loans and mortgages on which interest is not being accrued, or *

-where interest is suspended (2006 — nil).

4. Financial Investments

Financial investments held-to-maturity consist of U,S. Treasury notes carried at amortized cost of
$5,884,000 (2006 - $7,757,000). Financial investments available-for-sale consist of corporate
bonds valued at $364,907,000 (2006 - $424,385,000). ;

The maturity profile and interest rates of the investments are shown in note 11.

5. Property and Equipment
_An analysis of activity in property and equipment was as follows:

. Beginning Ending

‘Cost : __ Balance Additions ~ Disposals Balance
$7000 $7000 $7000 5°000
Land 3,113 - - 3,113
Building . 9,803 49 - 9,852
Machinery & Equipment 2,658 - 134 (19) 2,773
Furniture & Fixtures 1,130 31 (6) = 1,155
Motor Vehicles _ 167 27 (17) 177
EDP Software & Hardware 8,833 133 (745) 8,221
Total 25,704 374 (787) 25,291
_ Beginning Charge for _ . Ending
Accumulated Depreciation Balance Year Disposals Balance
$°000 $000 =‘ $000 $7000
Building: 2,117 293 - ' 2,410
Machinery & Equipment 2,473 112 (19) 2,566
Fumiture & Fixtures , + 1,062 . 13, (6) 1,069
Motor Vehicles J 75 36 (17) 94
EDP Software & Hardware _ 6,250 $12 (5) 6,757
Total : 11,977 __ 966 (47) 12,896
Net ;
Beginning Additions Ending .

Balance (Disposals) Depreciation _ Balance

Net Book Value $7000 $°000 $7000 $7000

13,727 (366) (966) 12,395
11,869 2,890 (1,032) ___13,727

December 31, 2007
December 31, 2006

/



6. Other Assets

2007 2006

$000 $000

Interest receivable - : 3,197 2,824
Prepaid 767 515
Accrued fees ; ; 375 2,283
Other 7 43 626
Total other assets 4,382 6,248

f ee bse Lk

7. Post-Employment Benefits

Pension plans

The Bank has two defined benefit pension plans - Retirement Scheme for Bahamian Employees
(Bahamian) and Retirement Scheme for Non-Bahamian Employees (Non-Bahamian) - covering
substantially all of the employees. The plans provide benefits based on final pensionable salary.
The level of contributions required to cover future retirement benefits is based on the projected final
salaries and is determined by a qualified actuary on the basis of valuations using the projected unit
credit actuarial cost method. The plans are subject to annual actuarial valuations and the most
recent valuations were made as at December 31, 2007 by qualified actuaries, Watson Wyatt. These
plans are closed to employees hired after October 31, 2003. The Bank will offer a defined
contribution plan to the employees hired after October 31 , 2003.

Pension plan liability (asset)

Pension Plans :
Bahamian Non-Bahamian :

2007 2006 2007 2006

$°000 $000 $°000 $7000
Benefit obligation (16,301) (15,807) (2,204) (2,227)
Plan assets ; 19,585 18,885 1,491 1,431
Overfunded (unfunded) benefit obligation 3,284 3,078 (713) (796)
Unrecognized net actuarial gains 192 288 103 554

Pension plan asset (liability) 3,476 3,366 (610) —~=«242)

WEDNESDAY, JUNE 11, 2008, PAGE 9B -

Activity in the pension plan liability (asset) during the year was as follows:

Pension Plans

Baliimian Non-Bahamian __
2007 2006 2007 2u06
. $7000 $°000 $7000 $°000
Pension plan asset (liabil:ty),
beginning of year 3,366 3,530 (242) (185)
Benefit expense 110 (164) (597) (124)
Contributions - - 229 67
Pension plan asset (liability), eT ee ack eg
_ end of year 3,476 3,366 (610) (242)

The principal assumptions used in determining pension benefit obligations for the Bank’s plans are
shown below:

Pension Plans

Bahamian Non-Bahamian
2007 2006 2007 2006
% - % % %
Discount rate at December 31 6.16 6.16 6.12 6.12
Expected return on plan assets 7.10 7.10 6.60 6.60
Future pension 2.45 2.45 2.42 2.42
Proportion of employees opting
for early retirement 4.00 1.00 1.00 1,00
7 SS
Post-employment healthcare benefits

The Bank also provides post-employment healthcare benefits to a small number of retirees, On
January 29, 2004, the Bank cancelled this benefit for current employees and significantly reduced
the benefit offered to retirees.

The following table summarizes the component of net post-employment healthcare benefit liability
in the consolidated balance sheet. ; ,

2007 2006

$’000 5°000
Unfunded benefit obligation 1,765 1,885
Unrecognized net actuarial gains : 266 35
Post-employment healthcare liability 2,031 1,920 _ ‘

Activity in the post-employment healthcare plan liability during the year was as follows:

2007 2006
$°000 $000
Post-employment healthcare liability, beginning of year 1,920 1,962
Benefit expense MW 103
Contributions/adjustment _: (145)
Post-employment healthcare liability, end of year 2,031 1,920

The principal actuarial assumptions used in determining the post-employment healthcare benefit
obligation are as follows:



2007 _ 2006.

% %

Discount rate. : 3 5.97 6.00

_ Healthcare cost increase rate 5.00 5.00

8. Other Liabilities

2007 2006
$7000 $7000
Interest payable : ce - 2,995. 1,873
Accrued expenses f 1,698 1,724
Legal provisions f 1,666 1,686
Due to group companies : ‘ 1,288 _ 925
Accounts payable é : 750 277
Uneared fees 476 1,412
Derivative financial liability —forward contract 46 "240
Other ; - 92 631
~ Total other liabilities; 9,011. : 8,768

9. Commitments and Contingencies

_ The Bank is a party to certain financial instruments with off-balance sheet risk, in the normal course
of business, to meet the financing needs of its customers. These financial instruments include
acceptances and guarantees, commitments to extend credit under lines of credit, and commitments
to originate loans and mortgages. Exposure to loss is represented by the contractual amount of
those instruments, however, the Bank uses the same credit arid hypothecation criteria when entering
into these commitments and conditional obligations as it does for loans and mortgages,

Contingent liabilities under acceptances and guarantees entered into on behalf of customers and
commitments to extend credit under lines of credit, in respect of which there are corresponding
obligations by customers as at December 31, 2007 are not included in the consolidated balance
sheet and are shown below.

2007 2006 -
"$000 $°000
Contingent liabilities jo wR 4 36,448 14,397
Commitments + 31,340 37,324
Total 67,788 51,721

As of December 31, 2007, there were several legal actions brought against the Bank by clients
which had not been resolved. The Bank has been advised by lawyers that it is probable that some
of these actions will succeed and-accordingly, at December 31, 2007, a provision of $1.7 million
(2006: $1.7 million) has been made in the consolidated balance sheet.

10. Related Party Balances

The following is a summary of related party balances in the consolidated balance sheet at December
31: ‘

2007 2006
- $°000 $000
Loans and advances to banks
Parent t 348,799 475,294
Other affiliates Ye 2,575 : 206
Total amount due from related parties 351,374 475,500
Loans and advances from banks
Other affiliates «1,150 2,062
Other liabilities ; ,
Parent : : BY 1,288 689
Total amount due to related parties 2,438 2,751
11. Capital

The Bank maintains an actively managed capital base to cover risks inherent in the business. The
adequacy of the Bank’s capital is monitored using, among other measures, the rules and ratios
established by the Central Bank of The Bahamas and the British Financial Services Commission in
supervising the Bank.

During the past year, the Bank had complied in full with all its extemally imposed capital
requirements.

Capital management ; :

The primary objectives of the Bank’s capital management are to ensure that the Bank complies with .
extemally imposed capital requirements and that the Bank maintains strong credit ratings and
healthy capital ratios in order to support its business and to maximize shareholders’ value.

The Bank manages its capital structure and makes adjustments to it in the light of changes in
economic conditions and the risk characteristics of its activities. No changes were made in the
objective, policies and processes from the previous years.

The Bank manages a part of its credit risk by ensuring appropriate collateral is held. At December
31, 2007, all loans and advances were fully secured and no provision was deemed necessary.

Regulatory capital

: Actua! Required Actual Required

2007 2007 2006 2006
0062006

$000 $000 $°000 $000

Tier 1 capital 28,391 12,832 27,922 12,289

Tier 2 capital 4,012 - 525 :

Total capital 24,379 17,832 28,448. 12,289
: eS eh er ame

Risk weighted assets 160,392 153,610
pacer! 60,392 eeeeedee



PAGE 10B, WEDNESDAY, JUNE 11, 2008

PQ ART

Tier | capital ratio : 17.7% 8.0% 18.2% 8.0%
Total capital ratio 15.2% 8.0% 18.5% 8.0%

Regulatory capital consists of Tier 1 .capital, which comprises share capital and retained earnings
including current year profit. The other component of regulatory capital is Tier 2 capital, which
includes reserves.

12. Financial Instruments and Risk Management

General

Risk is inherent in the Bank’s activities but it is managed through a process of ongoing
identification, measurement and monitoring, subject to risk limits and other controls. The process
of risk management is critical to the Bank’s ongoing profitability and each individual within the
Bank is accountable for the risk exposures related to their responsibilities. The Bank is exposed to
credit risk, liquidity risk and market risk. The Bank is also subject to general operating risks.

The independent risk control process does not include business risks such as changes in the
environment, technology and industry. These risks are managed through the Bank’s strategic

~ management processes.

- Risk ‘management structure
The Board of Directors is ultimately responsible for identifying and controlling risks; however,
there are separate independent bodies for managing risks including; the risk committee, the credit
committee, the finance committee and the internal audit department. Each of the individual bodies
are empowered to implement risk strategies for maintaining controls over the portions of the Bank’s
operations for which they are responsible. 7

Risk measurement and reporting systems

The Bank’s risks are measured using a method which reflects both expected and unexpected losses.
The risk measurements are based on historical experiences, adjusted for changes in the banking
industry and other environmental factors. The Bank also operates within the limits prescribed by its
Parent and its regulators. Various committees provide reports to the Board of Directors, which

The Bank’s lending is mainly concentrated in the financial services industry, with little lending
outside of that market.

Collateral and other credit enhancements

The amount and type of collateral required depends on an assessment of the credit risk -of the
counterparty. Guidelines are implemented regarding the acceptability of types of collateral and
valuation parameters. For securities lending the main types of collateral are cash or securities.

Management monitors the market value of collateral, requests additional collateral in accordance
with the underlying agreement when necessary, and monitors the market value of collateral
obtained during its review of the adequacy of the allowance for impairment losses.

A

Credit quality per class of financial assets —

The credit quality of financial assets is managed by the Bank using internal credit ratings which is
based on the main Rating Agencies’ classification for the counterpart risk (due from banks) and on
the Asset Classification Rating System according to the Guidelines for the Management of Credit
Risks issued by the Central Bank of The Bahamas for loans and advances due from clients. The
table below shows the credit quality by class of financial asset for consolidated balance sheet lines,
based on the Bank’s credit rating system. .



Past due or
December 31, 2007 High Standard Sub- Individually
Grade Grade standard Impaired Total
2007 2007 2007 ___2007 2007
$000 $000 $000 $7000 =©$000
Cash and balance with Central 415 - - - 415
Bank
Loans and advances to banks 368,089 - - - 368,089
Loans and advances to customers 43,682 - - - 43 ‘682
Financial investments available-for- .
sale : 364,907 - - - 364,907
Financial investments held-to-
maturity 5,884 - - - 5,884



782,977 : - -_ 782,977

I

THE TRIBUNE

Past due or .
December 31, 2006 High Standard Sub- Individually -
Grade Grade standard © Impaired Total
2006 2006 200 2006 —-2006
$000 $7000 $7000 $7000 =§=©$’000
Cash and balance with Central Bank 452 - - - 452
Loans and advances to banks 500,255 - - - 500,255
Loans and advances to customers 47,188 - - - 47,188
Financial investments available-for-
sale 424,385 - - - 424,385
Financial investments held-to- .
maturity ST ST
. 980,037 - - - 980,037

The Bank did not have any loans past due and not impaired at December 31, 2007 and 2006.

Liquidity risk management

Liquidity risk is the risk that the Bank is unable to meet its payment obligations when they fall due
under normal circumstances and stress circumstances. To limit this risk, management has arranged
diversified funding sources in addition to its core deposits base, manages assets with liquidity in
mind, and monitors future cash flows and liquidity on a daily basis.

The Bank maintains a portfolio of highly liquid assets that can be easily liquidated in the event of
an unforeseen interruption of cash flow. The Bank has secured commitments from its Parent for
funding in emergency situations. The Bank is also subject to regulatory guidelines related to
liquidity which includes the matching of assets and liabilities based on the terms of remaining
contractual maturity reducing liquidity risk in the process.

Analysis of financial assets and liabilities by remaining contractual maturities

include information on credit exposure, interest rate exposure and liquidity exposures. In addition, December 31, 2007 .
itors i i all risks s and activities. x
the Bank monitors its aggregate risk exposure across all risks type: Penk pect: Riad. Cua
Risk mitigation Months Six ToOne ; To More than
The ee not hold any trading positions for its own benefit and uses collateral to reduce its or Less Months Year Five Years Five Years Total
credit risks. $7000 $7000 $7000 _ $7000 $7000 $7000
Assets
Excessive risk concentrations Cash and balance
Concentrations arise when a number of counterparties are engaged in similar business activities, with Central Bank 415 - - - - 415
similar geographic regions or have similar economic features which may cause their ability to meet Loans and advances
contractual obligations to be similarly affected by changes in economic, political and other to banks 368,089. - - - - 368,089
‘conditions. Concentrations indicate the relative sensitivity of the Bank’s performance to Loans arid advances .
developments in a particular industry or geographic region. to customers 38,209 5,473 - - - 43,682
In order to avoid excessive concentrations of risk, the Bank’s policies and procedures include Financial investments
specific guidelines to focus on maintaining a diversified portfolio. In addition to the Bank’s own available-for-sale 29,329 = 21,164 21,500 292,914 - 364,907
policies and procedures, compliance with regulatory guidelines related to the concentration of risks Financial investments
is also mandatoty. ; ; held-to-maturity - 1,008 2,022 2,854 5,884
2 439,072 29,491 21,500 292,914 - 782,977
Credit risk ‘ eg ee ee ae
Credit risk is the risk that the Bank will incur a loss because is customers, clients or counterparties yee:
failed to discharge their contractual obligations. The Bank manages and controls. credit risk by Liabilities
setting limits on the amount of risk it is willing to accept for individual counterparties and for Loans and advances ;
geographical and industry concentrations, and by monitoring exposures in relation to such limits. - from banks 5,354 : . - ss 5,354
Credit risk arises principally from lending, investing and, to a lesser degree, on trading activity Customer deposits = _"_747,250__— 7,778 9,661 784 689
involving on and off balance sheet instruments. The Bank’s Parent has set portfolio and individual a 152,008 TTB. = 700) 0085
credit limits and these are monitored on an ongoing basis.
: December 31, 2006
The size of the consolidated balance sheet is such that it is possible to examine each individual Six
exposure to evaluate if specific provisions are necessary or adequate. The maximum exposure to Three Fourto Months One Year
credit risk is the carrying value of the assets. The Bank makes available to its customers guarantees Months Six To One To More than
which may require that the’ Bank makes payments on their behalf. Such payments are collected or Less_Months Year Five Years Five Years Total
from customers based on the terms of their letter of credit. The guarantees expose the Bank to risk $7000 ~ $7000 $000 $7000 $7000 $7000
similar to other loans and these are mitigated by the same control processes and procedures used for Assets
‘loans. Cash and balance with
, Central Bank » 452 : - - - 452
Maximum expos##e to credit risk without taking account of any collateral and other credit Loans and advances to : /
enhancements banks 500,148 58 49 - - 500,255
The table below shows the maximum exposure to credit risk for the components of the consolidated Lome ee ie 42.057 . 5.132 3 a 47.189
balance sheet, including derivatives. The maximum exposure is shown gross, before the effect of : cha" : me : 7 .
mitigation through the use of collateral agreements. Financial investments
available-for-sale 4,000 25,874 46,027 348,484 - 424,385
Gross Gross Financial investments :
maximum maximum held-to-maturity = = 1 2795 4,974 988 7,757
exposure exposure 546,657 — 25,932 53,003 353,458 988 980,038
Notes 2007 2006 SL pat 9. ho a fa a SoS fe
$7000 $7000 Liabilities
: Loans and advances :
Cash and balances with Central Bank 415 452 from banks. 8,865 - - - - 8,865
Deposits with other banks 368,089 500,255 Customer deposits 934,071 7,370 15,808 - -___ 957,249
Loans and mortgages 43,682 47,188 943,400 7,370 (15,808 +~- ~~ ~~ 965,414
Investment securities é 370,791 432,142 ie Gas es Meera eR MS NG ey Ga ae Seen eg es See EN ee
Other assets 23,097 25,454 _ Analysis of financial assets and liabilities by remaining contractual maturities (continued).
Total 806,074 1,005,491 :
She Ce The table below shows the contractual expiry to maturity of the Bank’s contingent liabilities and
~ Contingent liabilities 9 36,448 14,397 copmmitinents: ,
Commitments . 9 31,340 37,324 | :
Total - 67,788 51,721 Six
erode LS 2A iene ere Col eS Three Fourto Months One Year Over
; a / Months Six. to One to Five Five Total
Total credit risk exposure 873,862 1,057,212 or Less Months Year Years Years
: $7000 =: $000 $°000 $7000 $7000 $7000
‘eure tinancial instruments are recorded at fair value, the amounts shown above represent the December 31, 2007 a
current credit risk exposure but not the maximum risk that could arise in the future as result of .
changes in value, Contingent liabilities 20,825 1,800 3,708 10,115 - 36,448
: gob : bas, Commitments 7,610 21,531 2,199 7 - 31,340
Risk concentrations of the maximum Spesnne <2 credit risk a | 2843573331 5,907 101156788
Concentration of risk is managed by both client and counterparty, by geographical region and by ‘
industry sector. The maximum credit exposure to any client or counterparty as at December 31, December 31, 2006 ©
2007 ‘was $20.8 million (2006: $5.1 million) before taking account of collateral or other credit ;
enhancements. Contingent liabilities 3,731 5,635 ~—-2,570 2,461 - 14397
The Bank’s financial dssets, before taking into account any collateral held or other credit aoe SRT 4551 2,331 37,324
enhancements can be analysed by the following geographical regions: mn 28906 TAN 4792 51,721
2007 2006 Market risk ;
——$000. $000 Market risk is the risk that the fair value or future cash flows of financial instruments will fluctuate
ae , ; he a gi oe in market variables such as interest rates or foreign exchange ‘rates. The Bank
PE , ; not have any trading positions. All positions are managed and monitored using sensitivity
North America . 701 57,868 analyses. Except for the concentrations within foreign currency the Bank has no significant
Caribbean 417,967 45,947 concentration of market risk. The Group’s treasury department manages the liquidity structure of
Other 17,535 88,745 the consolidated balance sheet. This is to ensure that funding obligations are met and that the Bank
Total 806,074 1,005,491 is in compliance with regulatory liquidity Tequirements.

Market risk, including foreign exchange risk, interest rate risk and liquidity risk, is encountered
during the Bank’s normal operating activities. The SG Hambros Group is responsible for setting
market risk limits and for managing and monitoring these limits. The Group’s treasury department
also operates a central treasury for the Bank and is responsible for the active management of the

i risk of the Bank on a day to day basis. The Bank also monitors market risk on a day to day
asis.

Interest rate risk

Interest rate risk arises from the possibility that changes in interest rates will affect the future cash
flows or the fair values of financial instruments: The Bank has established limits on the interest rate
gaps for stipulated periods. Positions are monitored on a daily basis.

The Bank’s exposure to interest rates for significant interest-bearing monetary assets and liabilities
by major currencies was as follows:

December 31, 2007

United States Pound
——___Dollars_ Euro” Sterling |
Assets
Loans and advances to banks 1.70% to 5.14% 3.15% to 4.80% 5.60% to 6.40%
Loans and advances to
customers 3.25% to 8.13% 5.00% 6.50% to 7.06%
Investments available-for-sale 4.96% to 5.44% 4.70% to 5.07% 6.04% to 6.46%
Investments held-to-maturity 4.00% to 6.00% - -
Liabilities
Customer current accounts 0.26% to 4.38% 2.17% to 3.67% 1.25% to 5.66%
_Customer deposit accounts 1.94% to 5.20% 1,63% to 4.31% 3.50% to 11.50%
December 31, 2006
United States Pound
Dollars Euro Sterling
Assets
Loans and advances to banks 5.23% to 5.29% 3.62% to 3.65% 4.68% to 5.15%
Loans and advances to
customers 6.25% to 8.37% 4.25% 0.5% to 12%
* Investments available-for-sale 5.44% to 5.65% 3.56% to 3.91% 5.25% to 5.50%

Investments held-to-maturity 2.93% to 4.18% -



THE TRIBUNE

WEDNESDAY, JUNE 11, 2008, PAGE 11B



a eT ES UNS PE ra

VACANCYINOTICE #
AssistantiDirectorl-JHR 2

Liabilities
Customer current accounts 1.98% to 3.98% - 1.75% to 3.75%
Customer deposit accounts 2.94% to 5.35% 1.25% to 3.36% 2.75% to 11.50%

At December 31, 2007 and 2006, the Pound Sterling current account was eligible to bear interest
based on current market conditions on balances over £10,000.

Currency risk
Currency risk is the risk that the fair value or future cash flows of a financial instrument will

fluctuate because of changes in foreign exchange rates.

Foreign exchange risk is controlled via net short open and forward foreign exchange gap limits.
Foreign exchange trading has not been a core activity of the Bank during the year and, in the
opinion of the management, the risk inherent in these limits is considered to be minimal. In addition
to the Bank’s policies regarding currency risk, regulatory guidelines of the Central Bank of The
Bahamas also stipulate the matching of financial assets and financial liabilities based on currency to
limit the exposure to foreign currency fluctuations in the market.



December 31, 2007
United States Pound f
Dollars Euro Sterling Others
$000 $000 $7000 $000
Assets 460,107 226,024 72,495 * 47,448
Liabilities and shareholder’s '
equity 471,968 227,970 72,791 33,345
’ December 31, 2006
Assets 484,787 408,316 49,435 62,953
Liabilities and shareholder’s :
equity 508,404 408,563 49,326 39,198
Operational risk

Operational risk is the risk of loss arising from systems failure, human error, fraud or external
events. When controls fail to pérform, operational risks can cause damage to reputation, have legal
or regulatory implications, or lead to financial loss. The Bank cannot expect to eliminate ali
operational risks, but through a control framework and by monitoring and responding to potential
risks, the Bank is able to manage the risks. The identification and control of these risks is managed
by Management. Controls over these risks include effective segregation of duties, access,
authorization and reconciliation procedures, staff education and assessment processes, including the
use of internal audit. The Bank Risk’s Management Department and Internal Auditors carry out
regular reviews of all operational areas to ensure.operational risks are being properly controlled and
reported to the Risk Committee. Contingency plans are in place to achieve business continuity in
the event of serious disruptions to business operations.

Net fair value of financial instruments
‘Financial instruments utilized by the Bank include recorded assets and liabilities, as well as items
that principally involve off-balance sheet risk. The majority of the Bank’s financial instruments are
either short-term in nature or have interest rates that automatically reset to market on a periodic
basis. Accordingly, the estimated fair value is not significantly different from the carrying value for
each major category of the Bank’s recorded assets and liabilities.

13. Comparative Figures

Certain 2006 amounts have been reclassified to conform with the consolidated balance sheet
presentation adopted for 2007." :



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THEINATIONALIINSURANCEIBOARD
P.O.1BoxIN-7508
Nassau,JBahamas

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Royal Island (Bahamas) Limited

| INVITATION FOR EMPLOYMENT 1

Royal Island (Bahamas) Limited, the developers of the Royal Island
Resort and Residential Project, just off North Eleuthera wish to fill
the following position:

Electrical Superintendent

This position will oversee the construction and installation of the |
island-wide electrical systems Royal Island Bahamas.

The Qualified person will be able to run underground conduits, install
conduits in buildings, thus understand electrical installation needs
from start to finish. You will supervise contractors in the installation
of the designed electrical system. Primary responsibilities include
direct supervision of the electrical contractors, trouble shooting,
planning work, maintain jobsite safety, prepare daily construction
reports and to participate in weekly construction meetings. Position
requires the candidate to create and process contract directives to be
converted to change orders. This is not a desk position -this is a field
position. Educational degrees and certifications are a plus but experience
in maintenance and repair of electrical equipment in a commercial |
industry is better. Local candidates preferred. IMMEDIATE

INTERVIEWS for qualified applicants.

Qualifications and Experience:

The individual must have a minimum of fifteen (15) years of trade
experience in the electrical field. Applicant must demonstrate strong
eae: and excellent communication skills.

The suecesstul candidate will be required to work on Royal Island
Bahamas. ;

Interested persons should submit their resumes with cover letter to:
Fax to: (954) 745-4399

Or
Email to: aileen. miller @royalislandbahamas. com

" novi Island (Bahamas) Limited thanks all applicants ee Hehe.

interest, however only those aes under consideration will be
contacted.

Field Assistant Wanted
for Kirtland’s Warbler
Research Project

The Kirtland’s Warbler Training and Research Project is
seeking to employ a biology or environmental science
major as field assistant for its next field season beginning
October 2008 thru April 2009.

Unique opportunity to work with distinguished
ornithologists on a broad spectrum of bird research issues.
Excellent training opportunity in field research, public
education and community-based conservation.
Opportunities to travel to other Islands and also to the
United States to conduct research and make scientific
presentations.

Through a special arrangement with COB, students can
earn college credits for participation in the project.

~ Scholarship opportunities may also be available for students
successfully completing the project.

Comfortable stipend offered to successful applicant.

Duration: 9 months (October ’08 — April ’09)

ML

Location: South Eleuthera, Bahamas and
Michigan, USA

Send letter of interest and CV to:

Bahamas National Trust
P.O. Box N4105,

Nassau, Bahamas
Lina: bnt@bnt.bs |





PAGE 12B, WEDNESDAY, JUNE 11, 2008 THE TRIBUNE

In US, reta
gas prices over
$4.04 a gallon





Jeff Chiu/AP



A MAN waits for a crossing walk light to change across the street from a Shell gas station in San Mateo,
California yesterday. Oil prices fell Tuesday, giving up an earlier advance as the dollar held its gains against
the euro and the Energy Department slashed its oil consumption projections. Retail gasoline prices rose
to a new record over $4.04 a gallon.

(Sette Teh ctr Reg Eos SA el el 2 oe



Bahamas
must take
advantage
of citizens’
creative
talents

FROM page 1B

_ to bé creative, but feel some-
what stifled by the organisa-
tional culture they are in. By
encouraging and developing -
the creative side of their
employees, employers can
increase their competitiveness
and productivity.

Mr Finlayson said that this
could place the Bahamas as a
leader in creative economics - a
whole industry of using creat-
ing creative business ideas to
drive the country’s economy.

“If we do this, the good thing
is that we do not have to be
hindered by size or anything
else, just by what we can
dream and put into reality.”

The third international Fes-
tival in the Workplace will be
held June 15-16 at the British
Colonial Hilton under the
theme “Unleash the Festival
Transform your Organisation.”

It will feature such speakers
as Director of Culture Nico-
lette Bethel, Alexander
Kjerulf, the Happiness at
Work Project in Denmark,
Peter Block, international
‘management consultant and
author, and Jeannine Comma,
the executive director of the
Cave Hill Barbados School of
Business.

There will also be a dramat-
ic presentation written and
directed by Patrice Francis and
a Junkanoo Rush out, visit to a
Junkanoo shack and a perfor-
mance by Ancient Man.

Mr Finlayson said that the
programme which was
designed by Bahamians has
received international acclaim
winning the HR Innovation
Award from the HR Manage-
ment Association of Barbados
and the Association of HR
Management of the Caribbean.
Also the organisers had the
opportunity to share the pro-
gramme with at the LEGO
ideas conference in Denmark,
the Gel (Good Experience
Live) Conference in New
York and the Global Sol (Soci-
ety for) Organisational Learn-
ing) Conference in Oman in
the Middle East.



JST

i the stories



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rivers too. | Inchon
He RESCH
WCET





Full Text
TRYOUR
MoFLURRY
CHIPS AHOY

HIGH
LOW





Volume: 104 No.166









?'m lovin’ it.

CLOUDS
AND SUN









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ANY

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TIF





— £USA TODAY

BAHAMAS EDITION

WEDNESDAY, JUNE 11, 2008



SS

Ela Ie Ty
Business





. WAKE UPI

i

A i As

aT es







‘

dustice system ‘on
‘brink of collapse’

Hurricane Hole demolition underway

Former police prosecutor
says Bahamas could

face kidnappings and
terrorism unless it is fixed

@ By LARRY.SMITH

FORMER ‘police prose-

cutor Keith Bell told a
public forum Monday that

the Bahamian criminal jus-:

tice system was "on the
brink of collapse" and we
could look forward to kid-
nappings and terrorism
unless it was fixed.

Bell, a lawyer who spent
23 years in the police force,
headed the prosecutions
department before his

retirement last month with |

the ‘rank of chief superin-
tendent. He also headed
the police security and
intelligence branch.
"Now is the time to stop
all the talk," he declared
in a panel discussion at the
College of the Bahamas on
‘the Sanctity of Life: Socio-
Legal Responses to Misad-
ventures and Unlawful
‘Killings in The Bahamas.
"From 1990 to the pre-
sent we have had about a

SEE page 12

Former PLP Senator withdraws
charges against her husband

FORMER PLP Senator Paulette Zonicle appeared in Magis-



THE DEMOLITION of the Hurricane Hole Plaza on Paradise Island

trate’s Court yesterday morning where she withdrew charges -

against her husband.
Last month her husband Charles Zoninis 47, a senior sales and

_ marketing executive with the Broadcasting Corporation was
charged with causing harm and making threats of death against her.

Court dockets alleged that Mr Zonicle, of Berry Avenue,
Yamacraw Estates, caused harm to his wife on Sunday, May 25, at
their home.

It was also alleged that at the same time he threatened Mrs
Zonicle with death.

Mr Zonicle had pleaded not guilty to both charges before Mag-
istrate Carolita Bethel and was granted $7,500 bail with two sureties.

began yesterday. Heavy machinery was on site, tearing down the con-
dominiums and shopping centre, which until its closure housed several
‘popular eateries including Zio Gig?’ s Italian restaurant, and the News
Cafe. Kerzner International is making way for the construction of Mari-
na Village Il'and new timeshare properties.

nt eeeeaeecaceneeseneeseeeeseneecsneecenseeenesssenecenesesnseeenesneenenenssnessensasenegeaeeesensenseceseneneneserensaceeassersauees

Man questioned in connection
with murder is released

The case had been adjourned to December 8, however the case
has.now been dismissed and charges against Mr Zonicle dropped.

HURRICANE INSURANCE



























nd Bohan |
LD Sn



Coverage no matter which
_ way the wind blows.

obody does it better.

INSURANCE MANAGEMENT

(BAHAMAS) LIMITED. INSURANCE BROKERS & AGENTS

Aho
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| Feather | Evan
Tes (2) 3322860 | Tol (40) 334-2304





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

THE latest suspect ques-
tioned in connection with the
murder of Marvin Wilson has
been released.

Chief Supt Glen Miller, offi-
cer in-charge of the Central
Detective Unit (CDU), told
The Tribune yesterday that no
charges will be brought
against the man, as there is
not sufficient evidence.

To date, he said, five per-
sons were taken-into police
custody and questioned in
connection with the murder
of the 32-year-old Jamaican
man.

All five were released after

questioning.

However, Mr Miller said
that police are not discour-
aged by this fact.

“This is just all part of the
process, we will persevere,”
he said.

Mr Miller said that police

are determined to find more

evidence in this case in order
to solve the brutal slaying of
Mr Wilson..

The CDU chief in an earlier
interview said police at this
time are not able to say if
there is a connection between
the murder of Mr Wilson and
those of Thaddeus McDonald,
Harl Taylor and Wellington
Adderley. :

SEE page 11

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

POLICE are struggling to
break a multi-national prosti-
tution ring operating out of the
abandoned Mayfair Hotel on
West Bay Street, The Tribune
has been told.

While specialising mainly in

‘Jamaican women, thé ‘brothel

also reportedly caters to homo-
sexual men as it is said to pies

“young Bahamian boys”
well.

More alarming still is that the
brothel is only a few yards from
Fort Charlotte police station.

However, Asst Supt Oscar

Sidney Collie

Application mace
in Supreme Court
for judicial review
of officials in local
government elections

LEAVE was granted in
the Supreme Court yester-
day, paving the way for the
filing of a motion for. judi-
cial review of the actions of
Local Government Minister
Sidney Collie and Parlia-
mentary Commissioner
Errol Bethel in the conduct
of local government elec-
tions in Bimini and Exuma.

It is alleged that the gov-
ernment failed to provide
proper notice of the nomi-
nation process, thereby pre-
venting persons to duly
nominate as candidates.

It is also alleged that gov-

SEE page 11





Sands, who heads the Fort
Charlotte station, says his

» department is “not unaware”

of what is going on at the nears
by brothel.

In fact, he said, he headed a
task force consisting of police
and Immigration officers to raid
the establishment just last week.
However, this effort proved to

“have little success.

‘Reportedly, the operators of
the brothel were “tipped off”
moments before the team
arrived. The majority of the
prostitutes escaped in a waiting
bus, with the rest escaping in

nearby bushes.»

It is still unknown, however, if
the informant who alerted the
brothel of the impending raid
was involved with the
police/Immigration operation
that day.

“In the past four months,
since I came here, we have
cleaned up Arawak Cay, and’

in ‘SEE page 11

Case of officer
and man accused
of aiding prisoner's
escape adjourned

THE case of a police officer
and a man accused of aiding in

- the escape of a prisoner from a

police station has been
adjourned.

Sergeant Troy Lewis, 38, of
Pinewood Gardens, and Melvin
Maycock Jr, 24, of Joan's
Heights were back before Mag-
istrate Guillimena Archer in
Court 10, Nassau Street, yes-
terday but their case was

adjourned as Darnell Dorsette . =

of the Attorney General’s
Office told the court that the
prosecution was not ready to
proceed with the matter.

The case has now been
adjourned to September 23.

Court dockets allege that on
Thursday, February 28, officer
Lewis and Maycock Jr, being
concerned with others, aided in
the escape of Melvin Maycock,
Sr, who was in lawful custody
at Elizabeth Estates police sta-

SEE page 11




MORTGAGES
MUTUAL FUNDS
imam Ney Ae

SM Ue Rede

nanan
& PENSION. PLANS

OU ee Ae
a eee a






PAGE 2, WEDNESDAY, JUNE 11, 2008

LOCAL NEWS

THE TRIBUNE





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

FREEPORT - An American visitor
who filed an armed robbery complaint
was charged in the Marsh Harbour
Magistrate Court for making a false
statement to police.

James Davis Buchanan, 46, of Flori-
da, appeared before Magistrate Mar-
garet Symonette on Monday morning.

He pleaded guilty the charge of mak-
ing a false statement to police with



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intent to deceive. According to police
reports, Buchanan told the Marsh Har-
bour police around 5pm on June 7 that
he was held up and robbed at knife-
point by two black men, believed to be
Haitian nationals.

He told police that the incident
occurred at the Great Abaco Beach
Resort and Boat Harbour.

He said he was robbed of his brown
leather wallet, containing credit cards,
his US passport and $2,000 in cash.

A police sergeant conducted further
inquiries into the armed robbery tom-



plaint on Sunday. However, the offi-
cer became suspicious when Mr
Buchanan gave him a different account
of the alleged armed robbery than had
been given previously.

The officer conducted a search of a
black nylon bag that Buchanan was car-
rying. All of the items reported stolen
during the armed robbery were found

inside the bag, the court heard.

Buchanan was arrested and taken
into custody at the Marsh Harbour
Detective Unit.

He later admitted to making up the





story about the robbery because he had
been out drinking and had spent too
much of his money.

Magistrate Symonette ordered Mr
Buchanan to sign a bond of good
behaviour for a period of three months,
or in default, serve a term of three
months at Her Majesty's Prison, Fox
Hill.

He was then handed over to
Bahamas Immigration officers in con-
nection with a suspected violation of
the Immigration Act.



3



Plan to turn ex-Straw
Market site into green
space under attack

THE plan to turn the site of
the former Straw Market into
a green space will rob down-
town Nassau of its historical
tourism magnate, attorney Paul
Moss said yesterday.

Mr Moss was responding to
Minister of ‘Works Earl
Deveaux’s announcement that
his government plans to build
a “downturn urban park” on
the site of the old Straw Market.

Speaking with The Tribune
yesterday, Mr Moss said this
plan shows “clear hypocrisy and
lack of honesty” on part of the
FNM government.

“Since 2001 there was the
promise to rebuild the Straw
Market.

“And they (the vendors) are
still under that tent,” he said.

Mr Moss, who formerly
owned a store on Bay Street,
said tourists are still asking to
see the Straw Market, as it is

- still known as a major attrac-

tion.

He said he believes that a
new, improved market will be a
huge draw for international vis-
itors.

As it stands now, he said, the
Straw Market had devolved into

va flea market, which sells
. “knock- oe items: to knock-off wa,

Lawyer says move would rob
Nassau of tourism magnet —



Earl Deveaux

tourists.” Instead of dredging
the harbour to accommodate
larger cruise ships in order to
attract, “more of the same” type

of visitor, Mr Moss said the
Bahamas should work to make
the Straw Market so attractive
and exclusive that travellers
demand of the cruise lines that
they make port in Nassau.

Mr Moss, who is also a PLP
hopeful for the St Cecilia con-
stituency, said he is simply
astounded by the governmen-
t’s approach to the future of the
Straw Market.

“It’s extreme short-sighted-

ness,” he said.

As it concerns the govern-
ment’s plan for the old Straw
Market site,

Minister Deveaux has ead
that the planned urban park will
provide “much-needed open
green space in heart of the city
of Nassau, providing a venue
for casual entertainment.” .

The park, which is expected
to be completed by the
2008/2009 fiscal year, is expect-
ed to feature gardens, benches
and shade trees.

Buy? Sell?
Expect more from your broker.

Visitor charged with false armed robbery complaint || © In brief

Darren Adler
hack in court
over fraud case

BRITISH humanitarian Dar-
ren Adler, who is accused of
defrauding a bank of nearly half a
million dollars, was back in a
Magistrate’s Court yesterday.

Adler, 40, is charged with four
counts of fraud by false pretences.
It is alleged that the Lyford Cay
resident obtained nearly $500,000
from the Royal Bank of Canada
Lyford Cay. According to court
dockets, it is alleged that Adler
obtained $117,321.20 from Royal
Bank of Canada Lyford Cay on
March 19; $126,048 on March 20;
$118,291 20 on March 25 and the
same amount the following day
by means of fraud.

Adler who is on $150,000 cash
bail, appeared before Chief Mag-
istrate Roger Gomez yesterday
on crutches.

His fraud case has been
adjourned to June 17 and trans-

' ferred to Court 11, Nassau Street.

Adler will reportedly remain
in custody until someone stands
his bail. He is a representative of
the Humanitarian Operations
(HOPE) Foundation.

‘Che’ Guevara
film set to he
shown at COB

A FILM about the life of Latin
American revolutionary Ernesto
“Che” Guevara will be screened
this weekend at the College of the
Bahamas.

Born in Argentina, Che Gue-
vara is said to have dedicated his
life to opposing socio-economic
inequality through armed strug-
gle. Between 1956 and 1959, he
fought in the Cuban Revolution

-and became an important leader

in the early years of its communist
government.

In 1965, Che travelled to West
Africa, to assist Marxist guerillas
fighting government forces in the
Congo. Two years later, he trav-
elled to Bolivia to support an .

uprising taking place there.

Oh October 7, he was captured~
by the Bolivian Army, with the
help of the CIA and US Special
Forces. Che Guevara was execut-
ed the next day without trial.

The screening will take place
at the Michael Eldon Building at
4pm on Saturday, June 14.
‘ It is open to'the public. ~

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‘THE TRIBUNE *

WEDNESDAY, JUNE 11, 2008, PAGE 3





Three in court |
accused of
sacrilege and |
other offences |

THREE men accused of
sacrilege and other
offences were arraigned in
Magistrate’s Court yester-
day. :
Tekoyo McKinney, 25, of i
Moore Avenue; Alfred i
Darling, 44, of Cordeaux
Avenue and Wellington
Roberts appeared before
Magistrate Susan Sylvester
at Court 11 in Nassau
Street. They pleaded not
guilty to charges of sacri-
lege, shop-breaking and
receiving. ;

According to court dock- }
ets, it is alleged that on i
Wednesday, June 4 at
Washington Street, the
three men broke into the
Reaping Harvest Ministry
Church.

It is further alleged that
‘while there, the men stole
four microphones together
valued at $210 and a tape
recorder valued at $300.

It is also alleged that on |
Friday June 6 while at
Robinson Road, the men
received $76 packs of
Rothmans cigarettes val-
ued at $326.04 and a black
DVD hard drive valued at
$300, knowing that the
items were obtained by
way of an offence.

The three men were
granted bail in the sum of
$3,500. The case has been
agournes ie September

Last minute
work for
shuttle before
hatches close

@ HOUSTON

LITTLE work remained :
for shuttle Discovery’s astro-., i.
nauts to complete ¢ aboard the. y
international space station” :
Tuesday before they closed :
the hatches between the two :
spacecraft in preparation for :
their return trip to Earth, :
according to Associated Press.

On their last full day at the :
space station, the astronauts :
_ installed a backup drive sys- :
tem for the new Japanese :
lab’s robotic arm and were in :
the midst of last-minute pack- :
ing of their spacecraft with _}
equipment and science and :
medical samples to take back
with them. i

Flight controllers from :
around the world who work }
with the station’s crew took }
time 'on Tuesday to bid :
farewell to Garrett Reisman, -}
who is leaving on Discovery
after a three-month stay. :

“I couldn’t imagine what :
these last few months would :
have been like without all the. }
help you have given me,” he
said.

Astronauts aboard the
shuttle-station complex were
also scheduled to get some
off-duty time Tuesday.

“We usually try and give
the crews time off in the joint
mission just to give them a
little chance to relax because
they work extremely hard,” :
flight director Annette Has-: }
brook said.

Later in the day, the crews
of Discovery and the space :
station planned to say their :
formal farewells during a }
brief ceremony before clos- }
ing the hatches between the
shuttle and the outpost in
preparation for Wednesday’s :
departure. The shuttle is set :
to land Saturday.

Discovery delivered the :
new lab named Kibo, Japan-
ese for hope, to the space sta-_ }
tion last week.

The 37-foot lab, about the
size of a bus, is the biggest
room at the space station.
Kibo also has a storage closet
and a 33-foot robotic arm,
which was successfully tested
Monday.

The lab’s third and :
final section — a “porch” for }
exterior experiments — and :
a second, smaller robotic
arm will be delivered next :
year. i



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LOGAL NEWS

Officers charged in beating
will appear in Supreme court

@ By NATARIO McKENZIE



A PROSECUTOR in the Attorney
General’s Office presented a Volun-
tary Bill of Indictment yesterday in
the case of two police officers charged
in the brutal beating of Desmond Key
who died earlier this year after spend-
ing several months in a coma.

This means the matter will now pro-
ceed in the Supreme Court, bypassing
a preliminary inquiry.

Corporal Donavon Gardiner, 35, of

Flamingo Gardens, who is charged
with manslaughter and Constable
Tavares Bowleg, 31, of Garden Hills,
who is charged with abettment to
manslaughter, appeared before Mag-
istrate Guillimena .Archer in Court 10,
Nassau Street.

Key, a father-of-six, was allegedly
brutally beaten while detained at the
Grove police station in June last year.

Key, 28, died at Princess Margaret
Hospital in January, having never
recovered from a coma.

Magistrate Archer informed the offi-
cers yesterday that she and their attor-
neys were in possession of a bundle
of documents submitted by prosecutor
Vernal Collie.

Statements

Magistrate Archer read the charges
in the indictment. She informed the
officers that witness statements were
also contained in the bundle of docu-
ments.

Both officers are expected to
appear in Supreme Court before Act-
ing Chief Justice Elliot Lockhart on
June 23.

Justice Lockhart is expected
to transfer the matter to another
judge as his law firm is involved in the
case.

Officer Gardiner is being represent-

. ed by attorney Alex Morley of the law

firm Lockhart and Munroe and officer
Bowleg is being represented by attor-
ney Willie Moss.

Preparations are almost

complete for CCTV launch

Branville peed

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

A PILOT Closed Circuit
Television project is soon to
begin on Woodes Rogers
Wharf, according to the Min-
ister of State for Tourism and
Aviation.

Branville McCartney said
preparations for CCTV launch
are 95 per cent complete and
once ready the system will be
handed over to the Tourism
Police Unit for 24 hour moni-
toring.

The Ministry of Tourism is
secking to implement ‘ “BRE:

ventative systems, particularly
in high visitor traffic areas,”
he noted.

Delivering his contribution
to the budget debate on Mon-
day evening, the minister of
state said that “being able to
effectively control the crimi-
nal element is critical to the
Bahamas’ continued success
as one of the world’s premier
tourism destinations.”

“The recent shooting of a

. John Casper, a New Jersey

police officer ... who was
wounded by gunshot while on
vacation in Nassau gives us
pause to consider both the
potential harmful impact of

violent crime on tourism and
the importance of everyone

taking the right steps, once an ©

incident has occurred, to pre-
vent further loss and mitigate

the potential impact,” said Mr ~

McCartney.

Meanwhile, today Minister
of National Security Tommy
Turnquest will re-open the
Tourism Police Unit down-
town.

“We want to make sure the
public knows (the police sta-
tion is there), and that we
have some increased attention
on it,” said Mr Turnquest last
week.

He added: “When we talk

about tourism police, we are
talking about police officers
assigned to the touristic
areas.

“So I want to be very care-
ful, to say that these are not
auxillia: y policemen . . . these

are regular police officers ©

assigned to a police tourism
unit (and) they will have all
the regular resources that a
policeman would have.”

He said the tourism police,
who have had at least a-year
of training each, will primari-
ly be involved in preserving
law and order in downtown,
Cable beach and Paradise
Island.



Govt to spend $83 000 on climate change Study

{

i By ALISON LOWE ‘|
Tribune Staff Reporter ‘ |
alowe@tribunemedia.net {



THE government has budgeted to spend $83, 000 on
a study which will help it more clearly understand
the impact climate change will have on the islands.

The money will be used to come up with ways to
adapt to and deal with the threat climate change pos-
es.

Asa low-lying archipelago, the Bahamas has been
identified in numerous international studies as one of

i... the land-masses-most:vulnerable to the ravages-that cli-—-""
ie make 2. shane is.predicted to, bring. .

w, Minister of State for ‘Tourism and Aviation
Braneie McCartney has revealed that the country is
set to take steps towards getting a grip on the situation.

The Bahamas will receive help from Cuba’s Nation-
al Institute of Meteorology as it puts in motion the Pro-
viding Regional Climates for Impact Studies model

_ (PRECIS) across the entire Bahamas.

_ “Outputs from the model runs will be used to pro-
duce impact, vulnerability and adaptation studies; to
assist in the preparation of further national commu-
nications on climate change in The Bahamas,” said Mr
McCartney.

The PRECIS project is a pan-Caribbean project
which aims to create models which are relevant to

‘the Caribbean region in particular, so countries Ihave

a better idea of how climate change will affect ‘their
environments and can respond in an informed way.
Director of sustainable tourism planning Earlston
McPhee warned in April that the Bahamas is lagging
behind on action to form a strategic adaptation and
mitigation plan to deal with climate change. —
Having attended a seminar on the issue at the UK’s
prestigious Oxford University, Mr McPhee, who works
in the Ministry of Tourism, said that he was really
struck by the level of responsiveness in other countries,
of which there were 30 represented, to the risks clirnate
change presents for their territories and populations.
Meanwhile, Mr McCartney also identified several



“Outputs from the model runs
will be used to produce impact,
vulnerability and adaptation
studies; to assist in the

preparation of further national
communications on climate.
change in The Bahamas.”



“Branville McCartney

ways in which the government is seeking to put the
country in a better position to cope with the most

. immediate environmental dangers.

To improve the Bahamas’ ability to detect’oncom-
ing hurricanes, tropical storms and other major weath-
er events, the Department of Meteorology will com-
plete its installation of Emergency Management
Weather Information Network stations — called
EMWIN stations — across the islands.

At a projected cost of $42,000, additional EMWIN
stations, which better enable meteorologists to obtain
and analyse weather information, will be placed in
Grand Bahama; Exuma (to also.serve Ragged Island);
North and South Eleuthera, Acklins and Crooked
Island, Bimini and San Salvador by July of this year,
according to Mr McCartney.

And ahead of the 2008 Hurricane Season, auto-
matic weather stations costing more than $100,000
have now been installed in each of the major Family
Islands.

“These weather stations will also assist the Min-
istry of Agriculture and Marine Resources coupon
insurance scheme.

“This is a scheme in which agricultural and marine
interests are compensated for weather-related losses,”
he said.

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‘Shot in the arm’ for housing market

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

THE ‘housing market in the
Bahamas was given another “shot
in the arm” yesterday when
Arawak Homes announced that
it will offer various medical pro-
fessionals the ability to purchase
homes or residential lot packages
at only 2.5 per'cent of the pur-
chase price as a down-payment.

Franon Wilson, president. of
Arawak Homes, said at a news
conference at the company’s
Shirley Street headquarters, that
the Medical Housing Initiative is
designed to assist trained clinical
nurses, registered nurses, auxil-
iary nurses, laboratory techni-
cians, doctors, pharmacists, den-
tists, dental hygienist and physio-
therapists.

“This initiative is designed to
encourage wider and deeper pub-
lic support for the work of the
nation’s medical professionals and
demonstrate meaningful private
sector appreciation for these per-
sons,” said Mr Wilson.

The initiative, he explained,
relates to either an Arawak
Homes lot and home package, or
a home built with the assistance of
the company on a previously
owned lot. The company will
make equivalent cash contribu-
tions to cover the remainder of
the five per cent down-payment
on the cost of the home and lot
package.

This new initiative applies to
homes and lots around the island,
and will culminate in the creation

of a new subdivision by the com-

_ pany, named in honour of a med-

ical professional.

Arawak’ Homes also plans to
work with iits partners in the bank-
ing industry to ensure lower inter-
est rates for professionals that are
a part of this programme. Cur-
rently, banks are offering 8.75 to 9
per cent interest rates on mort-
gages. Mr Wilson did not want to
announce the specific rates their
customers will receive as yet, but
said, “no one that comes through
the door will be paying 8.5 or 9
per cent for a mortgage.”

The government recently
announced that it will be injecting
$75 milliom into the Bahamas
Mortgage Corporation, and will
create numerous tax concessions
for homeowners, designed to
spark growtki in the housing mar-
ket.

These include the elimination
on stamp tax on the transfer of
mortgages between licensed bank-
ing institutions, and exemptions
from stamp tax for first time pur-
chasers of residential lots for the
construction of a primary resi-
dence.

This stamp tax exemption for
first time homeowners also applies
to those constructing a first home,
and first time jpurchasers of a con-
dominium or duplex unit to serve
as a primary residence. These tax
brakes will last for five years and

the dwelling places must be val-’

ued at no more than $500,000.
Prescola Rolle, president of the
Nurses Association; Philip Gray,
president of the Bahamas Phar-
maceutical Association (BPA)
and Mimi Roberts, also of the

)

BPA, were on hand at the news

‘conference yesterday to give sup-

port to the initiative.

Arawak Homes has created
such programmes before for
teachers, police, Defence Force
and prison officers.

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* 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) 322-1 986
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

Crime needs full and urgent attention

BAMBOO TOWN MP Brenville McCart-
ney, looking around the House chamber at
mostly empty chairs as he rose to speak dur-
ing Monday’s Budget debate, made a sensible
‘suggestion — limit the number of speakers at
Budget time.

As he said, he had spent a lot of time
preparing his contribution to the debate, but
because most of the members had left —
probably it was past their lunch time— there
was “hardly anyone listening” to what he
had to say.

Sixty hours of speaking time has to be
squeezed into the next two weeks to allow
every member an hour on the floor before
the Budget can leave the House for its next
marathon debate in the Senate. For smooth
functioning of government, the Budget has to
be passed by July 1.

As Mr McCartney pointed out this debat-
ing time makes no sense. After the Prime
Minister has spoken, followed by a few other

speakers, the public has lost interest. By then’

the process has become repetitive, with
speaker after speaker getting up-and
mouthing the.same old story. Even the
- reporters have lost interest.
We are blamed for not covering speak-
ers, but reporters are leone or Some tInE
: newsworthy to-report:~

They cannot find it in ibe same cee regur-.

gitated 40 times. In other words to use an

old expression — we don’ t believed in “boiling .

our cabbages twice.”

Nor do our readers. They yerse to con- —

sume the same old fare over and over again
and so we are wasting newsprint to give them
something they.don’t want to read.

They are certainly not interested in who did
what — whether it be PLP or FNM. Nor are
they interested in which party highj acked the
other party’s programme.

They are facing hard times. All they want
are solutions and they are looking to their
representatives to stop talking and deliver
results. i

Mr McCartney’s suggestion was a good
one. Government and Opposition, as he said,
should get together and decide who will speak
for each side, both sides limiting their number
of speakers.

He suggested that legislators review some
of their procedures and revise them where
necessary to make their legislative work more
effective.

Instead of wasting House time these leg-

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islators should turn their efforts to finding
ways to rescue the criminal justice system
from what a former police prosecutor has
warned is “on the brink of collapse.”

This is something that The Tribune has
been saying in many different ways for a long
time.

However, speaking at a forum Monday
evening, former chief superintendent Keith
Bell, who resigned recently as head of pros-
ecutions after 23 years in the police force,
warned that if something is not done to “fix
the system” Bahamians could look forward to
kidnappings and terrorism. In other words
we are catching up with Jamaica, Trinidad,
other West Indian islands and South Ameri-

ca where innocent persons are snatched for a _-

price. From as far back as the days when the
late Sir Etienne Dupuch wrote this column,
The Tribune warned that the Bahamas was
taking its first baby steps towards becomirig
a second crime and corruption-riddled
Jamaica. No one listened: And then came

the drugs and the. Commission of Inquiry |

into drugs. The Commission was a lengthy
and costly process. There was guilt — much
guilt — but there was no punishment. Our

"society was shattered. And today we are pay-

ing the price.

‘As Mr Bell pointed out there is something:

wrong with our priorities and moral stan-
dards when residents can go on ZNS and

praise a convicted drug trafficker for being a.

“Robin Hood” anda pillar of the communi-
ty. They stood by him, condemning the Unit-
ed States for jailing him for 35 years for a
trade that had destroyed so many lives, his
own fellow Bahamians included.

Mr Bell, himself a lawyer, said the justice
system had become the biggest obstacle to
crime reduction. Something this newspaper
has been saying for some time.

“One third of accused murderers are out
on bail, including those accused of up to 10
murders,” he said. More judges were urgent-
ly needed, because, he pointed out, the judi-
cial system had no choice but to release
accused on bail if they could not be tried

within a reasonable time.

Crime needs our full and urgent atten-
tion.
There is no more. time for political finger-
pointing.
This is once that politicians on both sides
have to start working together — or we all
perish.



Cat Islanders’
prayers have
been answered

EDITOR, The Tribune.

(CAT Island has finally been
injected with hope; not blind
optimism. While gasping its
last breath and being left for
dead by the PLP with no signs
of life support in sight, a gigan-
tic puff of the freshest oxygen
is being breathed into the
economy of the quiet island.
The lowly island is now
breathing a sigh of relief.
There is truly a God above
and our prayers have been
answered. Prayer does change
things.

Then let us pray, “To God
be the Glory, great things he
hath done”. Finally someone
is looking out for Cat Island.
Ultimately we would be able
to say that we were not left

out. I wonder what the previ-

ous representative would say
now.

Cat Islanders should now
see for themselves who really
has their best interest at heart.
I can’t imagine what foolish-
ness the PLP would say to or
about this “God sent” project.
But “Fools rush in where wise
men fear to tread.”

Cat Island is untouched,
unspoiled and unhurried, I am
a native Cat Islander, born in

the most beautiful place in the .

world, Orange Creek.
I have been blessed to have

- been born in the early 50’s.

remember what Cat rena
looked like then. There has
been very little of any signifi-

‘cance done since.

When Cat Islanders get
together we usually complain
among ourselves how no one
cares for Cat Island.

We are disgusted that Brave
Davis, who is well connected
in the PLP, did precious little
to help his constituency. He
simply has no excuse.

Cat Islander in Nassau has
made many attempts to sug-
gest how we could pool our
resources to do some things
for ourselves. But you know
how people are, no one wants
to take the lead, narrow-mind-

The dirtiest

EDITOR, The Tribune.

FOR many years now1.

have exchanged visits with my
friends in Kansas..

They would come and live
with me in Freeport, Grand
Bahama, and in Andros, the
place of my birth.

They thought those
Bahamian Islands were so
clean and beautiful that all of

BEAUTY GUARD

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aKa} ital SLU ney exe rata eo)



edness usually gets the better
part of the plans and nothing
happens.

One vexing problem is how
easy it is to steal land in Cat
Island.

It seems everyone is doing it
and clear title means absolute-
ly nothing.

Unfortunately the law
means nothing because the
long unenthusiastically
research kills the spirit of the
principal thus causing them to
lose interest.

The PLP had five years and
nothing happened.

That is not true, a lot of
promises were made to fool
the people around election
time, but no one expected
anything because that is what
has been happening to Cat
Island since time immemorial.

Fast-forward — The Free
National Movement Govern-
ment under the wise and trust-
ed leadership of Rt Hon
Hubert Alexander Ingraham
showed exactly why the
Bahamian people were hys-
tericalforhisreturn. ‘-

In one short year Mr Ingra-
ham produced a “masterpiece
budget” so much so that the
opposition is all over the place
talking out of their heads.

Today Cat Island is now
placed on equal footing like
Abaco, Exuma, and Harbour
Island. Natives of Cat Island
can now make plans to return
to the “Jewel of the
Bahamas”.

I cannot image how Brave
Davis can now tell the
Bahamas how he was a good
representative all this time,
because this one venture will
show that he was nothing
more than a politician who got
into parliament by way. of Cat
Island, and that’s all.

area in New

The Bahamas were like them.

Now that I moved back to
Nassau, I continued visiting
them but they never had the
desire of visiting Nassau until
now that the children are all
grown up. Last week they
expressed that they would
wish to bring the children and
spend the summer with me.

I always told them that I
lived in South Beach, which
is only a mile from the ocean.

_ They really became excited

that they would be able to
walk to the Atlantic Ocean
and that their family could

' spend the whole summer on

the beach
At this point I felt the neces-

- sity to be honest with my

friends. I explained that even
though I lived so close to the
ocean in South Beach the sub-
division over the years, espe-
cially now, is the dirtiest area

Prime Minister Ingraham
should be commended for his
shrewd business qualities. He
should be applauded for his
master strokes in how
methodical he is with his plan-
ning.

This welcome news should
cause residents of other
islands to have a higher degree
of hope, because they could
be next. The Prime Minister is
always on time, not like Perry
Christie who is always late. |

The PLP had five years and
did nothing for many islands.
They have no excuse other.
than to say that they just did
not care. They cannot say they
did not have the opportunity.
In my opinion they were
lousy.

One thing I can assure the

‘ people that this is not the usu-

al photo op like the numer-
ous picture taking ceremonies
with Baha Mar about count-
less heads of agreement. This
is not an illusion like the ficti-

‘tious $29 billion of investment

that was only in the figment
of Perry Christie’s imagina-
tion.

As a Cat Islander, I person-
ally thank the Rt Hon Hubert
Alexander Ingraham for look-

. ing out for Cat Island.

You have proven time and
time again that you are far
more than just talk and dance;
you are a man of action.

We are certain that the
uniqueness of the island will,
for the most part, remain
intact. Cat Island is a wonder-
ful island, unlike any other.

T now urge all Cat Islanders
who complained in the past to

“get up off it” and do some-
thing for yourselves on your
island now. Otherwise you
cannot blame anyone if you
are left out.

-The opportunity is there
make the most of it.

IVOINE W
INGRAHAM
Nassau, ’

June, 2008.

Providence

in New Providence and it
appears that those in authori-
ty have no interest in clean-
ing the area.up. They thought
that our South Beach would
be like the one in Miami,
Florida. I told them I did not
want them coming with the
idea that the beach would be
clean and pristine that the
commercial talks about, but
instead it was more like green
with garbage, including stoves,
fridges, mattresses, furniture
and the like. They thought
that I just did not want their
company but they said they
are coming anyway just to see
how we could be the capital
and be so dirty compared to
Andros and Grand Bahama.

AUDLEY D HANNA Sr,
JP

Nassau,
May 20, 2008.

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THE TRIBUNE

WEDNESDAY, JUNE 11, 2008, PAGE 5





THE new building to contain the
Eugene Dupuch Law School will not be
built on John F Kennedy Drive opposite
the Ministry of Housing as planned by
the former administration, but on “the
original site” identified by the earlier
FNM administration, Minister of State
for Legal Affairs Desmond Bannister said.

Contributing to the 2008/2009 Budget
debate on. Monday, Mr Bannister said
that his government “very much wanted
to make a start at constructing a perma-
nent building” for the law school.

He said: “Honourable members would
have heard me comment last year on the

former administration’s efforts to break

ground on land which was not owned by

the government.”

“We have now done the research that



oo —__

In brief

Suspect in
rape of girl,
17, arrested

A MALE suspect has been
arrested in connection with
the rape of a 17-year-old girl,|
Chief Supt Glen Miller said
yesterday.

According to.police reports,
the victim, a resident of Nas-
sau Village, told her father
that she was raped by a man
who broke into their family
home.

The father then ran out of
the home and chased some-
one suspected of being the
rapist, finally apprehending
him with the help of neigh-
bours.

The incident reportedly
occurred at around lam on
Monday.

Chief Supt Miller said the
alleged attacker forced his
way into the Nassau Village
home through a window.

' At this time, there is no evi-
dence to suggest that the
teenage victim knew her
attacker, he said.

On Monday, a 28-year-old
resident of Lewis Street was
assisting the police with their

-investigations. aes





@ MEGAN REYNOLDS
Tribune Staff Reporter

AN “infrastructural crisis” at
Princess Margaret Hospital
(PMH) is driving an initiative
to transform the hospital’s oper-
ating theatres into the most

advanced surgical suites in the |

region, Minister of Health and
Social Development Dr Hubert
Minnis said.

Giving his contribution to the
2008/2009 Budget in the House

. of Assembly last week, Dr Min-

nis acknowledged that PMH is
suffering from overcrowding,
limited space for expansion,
outdated buildings, and diffi-
culty maintaing flow between
service areas.

The outdated and poorly
equipped operating theatre
suite at PMH must be urgently:
upgraded to treat the high vol-
ume of patients, many of whom
are denied their scheduled pro-
cedures because of limited
space and time, Dr Minnis said.

“This situation cannot be
allowed to continue,” he said. -

"My government is commit-
ted to ensuring the Bahamian
people receive the highest qual-
ity of care ayailable and to this
end, we seek to move, rapidly





Desmond Bannister j

it would require a major investment to
prepare the land, and also because the
location has several subterranean caves.”



Law school to be housed at ‘original site’

they did not
do in their
attempts to
seek photo
opportunities,
and now it has
been deter-
mined _ that
that location,
even if it is
purchased,
may not be
adequate for
the construc-
tion of the law
school because

added.

built. |

Hubert Minnis



to identify the options for
expanding the operating the-
atre capacity within this upcom-
ing budget year.

"We are confident that the
temporary location decided
upon will meet international
quality and safety standards as
we fully upgrade the operating
theatres into the most advanced
surgical suites.of the region."

The PMH will be upgraded
with part of the $176,140,170
proposed allocation for the Pub-
lic Hospitals Authority corpo-
rate office, Princess Margaret
Hospital, Sandilands Rehabili-
tation Centre and Grand
Bahama Health Services.

Pressure on services at PMH '

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The minister said that the current gov-
ernment determined that the “most prac-
ticable” decision is to move back to the
site where the previous FNM government
had planned to build the law school.

“And we have allocated $1,000,000 in
this Budget for site preparation,” he

“We have worked closely with the (law
school’s) principal to finalise the plans
for the construction of a building which we
anticipate will meet the needs of our law
students in the very near future.”

It is believed that the intended site may
not be far from the College of the
Bahamas, close to where the new Chi-
nese-funded stadium is expected to be







Plan to upgrade PMH
operating theatres

are intensified by the rising
number of dialysis patients,
despite the recent replacement
of dialysis machines with fund-
ing from the Tribune Media
Group, the Princess Margaret
Hospital Foundation and pri-
vate donors.

Dr Minnis said long-term
solutions for patients, such as
kidney transplants, must be con-
sidered, and a more aggressive
preventative approach will be
adopted to reduce the need for
dialysis.

"Due to the effects of these
services on the quality of life
and productivity of the patients,
and the costs to the health sys-
tem, it is imperative that we
adopt a multi-prong approach,"
he said.

Dr Minnis hopes an alternate
facility for dialysis patients will
be secured in New Providence.

A new comprehensive Can-

cer Care Centre at the former -

Bahai building in Shirley Street
will provide more. comfortable
care for oncology patients this
year.

The newly commissioned
building will also house a med-
ical library and classrooms for

the University: of ;WestIndies :i~

Clinical. Programmes ii 35

tM ESTRUS FRMy De ORENSARD



KEMP'S FUNERAL HOME LIMITED

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

a a a

Mrs. Anthea Merle Russell

















of Nassau, The
Bahamas and formerly
of Hope Town, Abaco,
The Bahamas who died
at home on 7th June,
2008, will be held at St
James Methodist
Church, Hope Town on
Monday, 16th June,
2008 at 4:00 p.m.



Mr. C. Vernon Malone ~
and Pastor Larry Russell will officiate.

Interment will follow in the Mid-Town Cemetery,
Hope Town.

























Mrs. Russell was pre-deceased by her husband,
George Russell, her mother, Merlee Kemp, her
father, Victor Kemp; a stepson, David Russell, a
brother, Pat Malone and a sister, Nellie Goffe; she
is survived by her son, Jack Russell; three
daughters, Betty Roberts, Victoria Sweeting and
Pamela Nutt; step-son, Basil Russell (and his wife
Juanita); grandsons, Stewart Roberts (and his
fiance Kelly Lippert), Brandon Sweeting, Clint
Russell, Jesse Nutt, Al Russell, Ritchie Russell
and Brian Russell; granddaughters, Misty Russell,
Brittany Sweeting, Mya Nutt, Myrtle Pinder and
Tanya Mosko; sons-in-law, Stephen Roberts,
Gerald Sweeting and Ted Nutt; daughter-in-law,
Lana Russell; brother-in-law, Terry Goffe; sister-
in-law, Louise Albury and many other relatives
and friends too numerous to mention.

Instead of flowers, donations may be made to The
Christian Counselling Centre, Collins Avenue,
P.O.Box SS 6106, Nassau, The Bahamas "Abaco
Fund", in memory of Mrs. Anthea M. Russell.

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



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PAGE 6, WEDNESDAY, JUNE 11, 2008

THE TRIBUNE



Students to attend US maritime leadership forum

Grants awarded to participate in summer programme

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

FREEPORT - Three Grand
Bahama students were awarded
grants to attend a maritime
leadership forum at the Sony



= S

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Maritime College in New York
this summer.

Glender Knowles, pro-
gramme spokesperson, said a
total of 20 students from the
Bahamas were awarded grants








DER

to participate in the summer
programme, which will be held
from June 19 to June 26.

Cordero Mitchell, a senior
student at Jack Hayward High;
Moses Moxey Jr, a student at
Eight Mile Rock High, and
LaQuey Smith, a student at
Tabernacle Baptist Academy,
were selected from Grand
Bahama.

Mrs Knowles, who is a
licensed maritime captain, said
that the Bahamas is one of the
largest maritime countries in
the world, yet so few students
enter the field.

She said plans are underway
to establish a Maritime Cadet
Corp programme on the island
in January, 2009, to raise aware-
ness of the vast career opportu-
nities in the maritime industry.

According to Mrs Knowles,
students must have an interest
in the maritime field and must
achieve an academic grade
point average of 3.0.

They must also be very profi-










mittee.

their coaches.

event.

in Nassau Village.”

' MEMBERS of the Nassau Village
community came out in record num-
bers last weekend to support a bas-
ketball tournament hosted by the
Nassau Village Urban Renewal Live-
able Neighbourhood office, in part-
nership with the Villas Barber Shop
and the Nassau Village steering com-

The tournament saw basketball
skills displayed by four teams, each
comprised of 12 members, excluding

Among the scores of people
attending the tournament was Min-
ister of Education, Youth, Sports and
Culture Carl Bethel, who gave
remarks and officially opened the

Leo Douglas II, centre manager for
the Nassau Village Urban Renewal
Liveable Neighbourhood Pro-
gramme, said the tournament gave
some of the Nassau Village com-
munity vendors an economic boost.
The vendors were invited to be a
part of the event free of charge.
The tournament was described as a
“truly unifying event for the youth

cient in mathematics, physics,
and chemistry.

She said that the Maritime
Cadet Corp programme is going
well in Abaco, where high
school students are now study-
ing to be captains.

A cadet programme was also
established at the CR Walker
High School in New Provi-
dence.

The Maritime Cadet Corp
programme is instituted by the
Bahamas Maritime Authority,
which falls under the Ministry of
Maritime Affairs, to introduce
and prepare high school stu-
dents of grades 10 through 12
for employment in the maritime
industry.

The programme is sponsored
by the government and is con-
ducted in conjunction with the
Royal Bahamas Defence Force
and the Ministry of Education.

Mrs Knowles said that they
have visited several schools on
the island to make students
aware of the maritime grants

and scholarships that are avail-
able.

She said that eight scholar-
ships were awarded to Bahami-
an students by Holland College
out of Canada.

“We are one of the largest
maritime countries, but aware-
ness is limited. We have over
1,600 vessels registered in the
Bahamas with over 2,000 crew
members. And we only have
two. Bahamian Master
Mariners,” she said.

“And so therefore, we are
here bringing awareness and
looking for students to go out
and return back to us with mar-
itime experience and knowl-
edge.”

Mrs Knowles said the three
students were fortunate to be
selected for the summer mar-
itime programme, as only two
students in the US are selected
from each state to attend.

“The Bahamas was fortunate
in that 20 students were award-
ed grants, and three of those

students were chosen from
Grand Bahama.

Cordero Mitchell, a senior at
Jack Hayward High, said he
loves the water and also enjoys
going to the harbour and watch-
ing the boats as they dock.

“This summer grant will
enable me to allow me to follow
my dreams,” he said.

LaQuey Smith said she was
always fond of boats growing
up on the island of Abaco.
After moving to Freeport, she
became interested in becoming
a marine pilot.

Moses Moxey Jr, the grand-
son of the legendary Bonefish
Foley (Israel Rolle), said going
into the maritime field was a
natural choice for him.

“T live in the quaint fishing
settlement (in) West End and
I come from a family of fisher-
men, and I always wanted to
get involved in the maritime
field.

“J am honoured having
received this grant and proud
to represent my school and be a
great ambassador to my coun-
try,” he said.

Nassau Village have a ball!




























The Bahamas Telecommunications Company, Limited (BTC)

GOVERNMENT NOTICE



Come out and reconnect with your
Queen's College family at a night of
stellar entertainment.

joy performances by homegrown QC
talent! —

age, Fred Fergus

S
Single eton and more!

Friday, June 13 2008
The QC Auditorium
© 6:30pm

*20 admission

Hors d’oeuvres,
Mini avetion, Prizes

v



ison &



Invitation for-Proposals

The Bahamas Telecommunications Company Limited (BTC) is soliciting proposals
from qualified parties fo provide a “War Gaming Proposal”.

BIC is seeking to secure the services of a consultant or agency to analyze the opera-
tional and marketing performance and strategies of BIC with respect fo its mobile
market segment. The agency or consultant is expected to provide a proposal that
will introduce a “dummy” company by the name of Megacell into the marketplace
with the primary purpose of penetrating BIC’s mobile customer base.

Megacell will develop a full marketing and product roll out strategy to be imple-
mented in a virtual environment, If should include the following:

| © Launch plans and related collateral and activities

¢ Budgetary provisions for all marketing activities

¢ Marketing collateral geared fo specific and ongoing promotions, specials, and
other differéentiators

‘ “cere of goods and services, including seasonal pricings

¢ Sirategy for corporate sponsorship and corporate civic citizenship

¢ Wholesale and Retail Distribution strategy, including third party licensed retailers
and/or handset subsidies and pricings as may be applicable.

* Customer care strategies, including specific strategies for custorner acquisition
and retention

* Strategies{both formal and informal} for managing and influencing the regulatory
environment and for competitor and market intelligence gathering

Interested parties may obtain further information, including eligibility fo participate
as of May 26, 2008 from the BIC Marketing Department, Bay Street, Nassau, Baha-
mas.

_ Any queries should be directed fo Eldri Ferguson, eferguson@bicbahamas.com ,

242-302-7540.

| Please respond to this RFP by no later than July 8, 2008 addressed to:

Mr. Kirk Griffin

Executive Vice President

The Bahamas Telecommunications Company Limited
P, O, Box N-3048

John F. Kennedy Drive

Nassau, Bahamas

Proposals will be opened 12 Noon, July 11, 2008, BIC Marketing Office, Bay Street.

BIC reserves the nght to reject any or all proposals.


THE TRIBUNE

VWEUNESUVAY, JUNE 11, 2UU8, PAGE /



IN an effort to discover talented singers from across the
Bahamas, the Kingdom Glory Records label of the Mount
Tabor Full Gospel Baptist Church is launching a summer
music competition themed, “Ride the Wave 2008.”

Praise and worship teams from across the Bahamas are
invited to come together and compete for the grand prize of a
contract to record a single produced and released by KGR, in
addition to cash prizes. The competition will feature two elim-
ination rounds. The first 20 teams to sign up will take part in
round one to demonstrate their singing talent, creativity and

performance skills.

Nehemiah Hield, managing director of KGR said: “We
would now like to reach out and touch praise and worship
teams all across our Bahamaland so that they, too, can go
where they have never been before musically.”

Participating teams will be required to sing a feature song
from the Mount Tabor praise and worship project, “Wave of
Glory” in addition to a selection of their choice from the CD.

Teams will be judged on the following areas: Tone, tech-
nique, diction, phrasing, interpretation, musical effect, inten-
sity and projection, ministerial effect, level of difficulty, and

stage presentation.

Nadine Moss, praise and worship director said there are
many gifted gospel singers in the Bahamas, but they remain
relatively unknown to the wider public. :

“KGR desires to bring Bahamian singers and musicians
from within the borders of their churches to the forefront.

“TI believe that there are a whole lot of skilled singers who

we do not know,” she said.

Applications for registration are available at Kingdom Glo-
ry Records and at the Word Bookstore.

Competition rounds will be held on July 2 and July 16 at ‘the
Rainforest Theatre in the Wyndham Nassau Resort.

The finale is scheduled for August 3.



Radio personality Darold Miller
expected back in court today

POPULAR radio personali-
ty Darold Miller is expected
back in court today as his sexu-
al harassment trial continues.

Last month Magistrate Renee
McKay ruled that the prosecu-
tion had made a "sufficient"
case against him for the matter
to continue.

In her ruling on a "no case
submission", Magistrate McKay
said that Mr Miller did have a

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case to answer, meaning that he
will have to lead a defense
against the sexual harassment
charge.

Mr Miller is expected to give

_ testimony today.
It is alleged that between

February 2 and March 22, 2007,
Mr Miller, while holding a posi-
tion of authority over the
female complainant, impor-
tuned her for sexual favours
under the promise of her bene-
fiting while employed at GEMS
105.9 FM radio station.

Miller’s trial began on Janu-
ary 4 with the virtual com-
plainant in the case giving
graphic details of alleged sex
acts which she claimed were
forced upon her.

CIRO. SS,

LOCAL NEWS

PLP MP Melanie Griffin

has accused the FNM of “pla-,

giarism” over a plan to bring
relief to Bahamians in emer-
gency situations.

According to Mrs Griffin,
the former minister of social
services, although the FNM
call it a “new programme”,
the policy of opening emer-
gency relief desks was actual-
ly proposed by a member of
her party several years ago.

“T can only hope that there
is no effort here to mislead
the. public and members of

this honourable place,” she
told parliament.
Mr Griffin quoted news arti-

cles from 1991, which showed

that the late George Mackey,
former PLP MP for Fox Hill,
opened a Family Relief Desk
to give temporary assistance
to unemployed persons in
response to the difficult eco-
nomic situation at the time.
Mr Mackey said the desk
would provide assistance, sup-
port and advice to those who
are facing “genuine hardship”
and cannot provide for their

Govt accused of plagiarism

PLP MP hits out over plan to bring
relief to Bahamians in emergencies



~ ON THE ATTACK: PLP MP Melanie Griffin

dependents. Mrs Griffin point-
ed out that during her time as
minister, she also opened a
number of emergency relief
desks, particularly in the after-



math of hurricanes. “I was
quite surprised therefore to
hear it was some ‘new pro-
gramme’ by the department,”
she said.

Mrs Griffin said the matter
is “a very serious thing” — as
persons have lost their jobs
over plagiarism in the
Bahamas in the past.

She also criticised Prime
Minister Hubert Ingraham’s
statement that his govern-
ment’s decision to increase
funding for the Ministry of
Social services will allow for
“meaningful increases” in
relief for the poor.

She said: “While I think we
would all agree that every lit-
tle bit helps, I think it is fair to
say, based on my understand-
ing of the draft estimates, that

the increases are not ‘mean-.

ingful’ at all. “ In fact when
you consider the economic cri-
sis, as it relates to the value
of money, what we purchased
for $100 yesterday, we are
now buying for $125.”

Work on China-funded sports stadium
should begin this year, says Ingraham

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

Construction of the Chinese
government-funded sports sta-
dium should begin this year,
Prime Minister Hubert Ingra-
ham said yesterday.

According to the former PLP
governiment, the stadium was
originally supposed to be com-

pleted by early 2007, after adeal -

was signed with China in 2004.

Minister of State for Youth
and Sports Byron Woodside
told The Tribune in March of
this year that a “full report” on
the status of the plans to con-
struct the multi-purpose sports
centre would “shortly” be forth-

_ coming.

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Hubert Ingraham

This followed statements in

January, in which he suggested
that construction would begin’

“within the ensuing weeks.”

Sports enthusiasts have been. -:

Lf!
Cole Urs.

SLrvown

é 443
7 The

at a disadvantage for almost two
years since two other sports
venues — the Andre Rogers

baseball stadium and the

Churchill Tener Knowles
National Softball Stadium —
were demolished to create
space for the new facility.

Questioned yesterday about
whether the foreign-funded pro-
ject was still set to materialise,
Mr Ingraham confirmed that
this is the case, however he said
that he could not provide a
“comprehensive report” on the
matter and directed The Tri-
bune to speak with Mr Wood-
side.

Asked if construction would
get underway this year, Mr

Ingraham said: “I expect so,

yes.”

Geniwtne

Ground was officially broken
on the site of the venue during a
ceremony on Independence
Day in July, 2006.

Then prime minister Perry

Christie said at the time that:

the move “symbolised the com-
mencement of the construction
of the stadium” while then
housing and sports minister
Neville Wisdom said that pro-
ject was “right on track.”

To date, however, the
groundbreaking remains large-
ly symbolic, with little explana-
tion of the delay having been
offered.

The Tribune attempted to
reach Mr Woodside yesterday,

--but.was unsuccessful.

Tennis Center

Ph: 323-1817 -

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PAGE 8, WEDNESDAY, JUNE 11, 2008

THE TRIBUNE



Bahamian land planning
and development challenges

"Anchor projects are so out of
favour today that if the govern-
ment sees those words in a pro-
posal their first inclination is to
throw the document away."

— anonymous source.

"To plan is one thing, to grow
(or not grow): according to plan
is quite another."

— Dr Xavier Briggs.

D R XAVIER DE
SOUZA BRIGGS is
our latest planning guru. He fol-
lows Canadian Malcolm Martini,
(planning consultant to former
prime minister Perry Christie),
who followed EDAW (a Cali-
fornia-based design firm that
came up with the Nassau rede-
velopment plan now gathering
dust on official shelves).

Briggs has strong Bahamian
ties. A former Clinton adminis-
tration official in the Depart-
ment of Housing, his mother,
Annie, is the daughter of
William (Willie) Norman Aran-
ha, Nassau's crown lands officer
during the 1940s, and his father
was an out island doctor, Dr
Nevis Briggs. His uncle is Paul

Aranha, the retired airline pilot.
“JT was raised in Nassau and
Miami, and my family's public
service ties to the development
of the Bahamas go back five
generations," Briggs told Tough
Call recently. "I have worked on
quite a range of the issues facing
the Bahamas, mainly in the US
but also in Brazil, India, South
Africa, and Central America."
These assignments combine
complex issues, multiple stake-
holders, uncertainty about the
future, and the need to act — in
other words, they were just the
right kind of rehearsals for ,his
new Bahamas project. But how
did this project come about?
Well, in his role as associate
professor of urban planning at
the Massachusetts Institute of
Technology in Boston, Briggs
was faculty adviser to a Bahami-



an grad student named Nakeis-
chea Loi Smith, who last year
wrote a thesis on Bahamian land
planning and development
issues. ;

Smith's research focused on
the social and environmental
challenges associated with so-
called "anchor projects" — the
development of big residential
resorts on major out islands that
has been promoted by FNM and
PLP governments over the past
15 years, but which recently
came to be identified with the
administration of former prime
minister Perry Christie.

She argued that the lack ofa
land use framework, poor envi-
ronmental controls, perceived
favouritism towards foreigners
and the exclusion of locals from
decision-making had led to pop-
ular resentment and spawned

e

unpleasant disputes with devel-
opers and the government.

This was especially so, Smith
said, where "such policies are
seemingly threatening to make
housing unaffordable, over-
whelm small island cultures with
newcomer needs, privatise cher-
ished community commons and
generate conflicts over labour
shortages."

According to Professor Brig-
gs, "Smith's decision to focus her
thesis on land development, and
her careful effort to follow up
on a few instincts I shared with
her as starting points, blossomed
into a specific concept: to make
sure Bahamian communities,
their elected leaders, the media,
and business and other stake-
holders have access to the very
best thinking, worldwide, on
how to tackle (these) chal-
lenges."

The challenges were thrown
into sharp relief this past week-
end when Prime Minister
Hubert Ingraham and Works
Minister Earl Deveaux led an
official delegation to Cat Island
to discuss a 1,900-acre, $200 mil-
lion residential resort at Fine
Bay. This project will incorpo-

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rate all the familiar features —
condos, town houses, estate
homes, hotel/casino and golf
course — and it generated mixed
reactions from the locals.

Colin Higgs, permanent sec-
retary at the Ministry of Works,
says the government's approach
is not to approve any foreign
investment proposal that may
significantly impact Bahamian
communities without prior con-
sultation with residents and oth-
er stakeholders. But the previous
government said much the same
thing and still had to engage in
an endless dogfight with the
Save Guana Cay folks.

By most accounts, there is
overwhelming support for the

_Cat Island Golf and Beach

Resort, which will create almost
a thousand jobs and does not

- involve the transfer of any

Crown land. But Sammy
Thurston, who runs a small inn
at Bennett's Harbour, remains
convinced that such a large-scale
development will destroy Cat
Island's unique lifestyle.

"We are creating small cities
on every island," he was report-
ed to have told the assembled

officials and bigwigs. "That is .

not good. We are soon going to
put ourselves in one box as a
tourist product. I should be say-
ing 'yes' because I will: make
money from this development.
But I am saying 'no, no, no'
because we need to step back
and think about what we are
doing."

His comment was an apt crit-
icism of the so-called anchor
project policy and the conse-
quences such large-scale projects
can have for small underdevel-
oped communities.

Truthfully, the anchor pro-
ject policy is a matter of oppor-
tunity more than design. The ris-
ing demand for second homes
among American baby boomers
(the wealthiest generation in the
history of the world); combined
with a scarcity of affordable
waterfront property in the US
has turned our sparsely popu-
lated out islands into an irre-
sistible investment magnet.

But the lack of planning and
forethought has left local com-
munities facing development
pressures ranging from the
unmanaged influx of thousands
of poor migrant workers and
high-income foreign homeown-
ers; skyrocketing real estate
prices and associated mortgage
costs for Bahamians, traffic con-
gestion and fewer recreational
options in Nassau, and more.

The title of Loi Smith's thesis
— "Whose Land is it Anyway?
An analysis of the Management
and Distribution of Crown Land

in the Bahamas" — gives voice |

to these concerns. And it con-
cludes with a call for a national
development plan supported by
improved inter-agency collabo-
ration, clarification of land

. tenures and stronger environ-

mental regulations.
Smith was hired by the gov-

ernment last spring. She joined

land mapping analyst Daniele

‘Hanek in a small planning unit

set up by Malcolm Martini, the
Canadian consultant who retired
shortly after the May 2 general
election. When Earl Deveaux
assumed responsibility for the
government's planning functions
under the new administration,
he initiated the MIT partnership
with Briggs.

"I wanted to establish a
process whereby Bahamians
were linked with credible insti-
tutions so we could build long-
term capacity," Deveaux told
me. "Martini wanted to doa
plan for Abaco, using Smith and
Hanek. And I asked why they
could not lead. such a process
themselves, with our support. It
appeared to be a win-win strate-

gy to save money and develop’

key linkages with two of Amer-

ica's great learning institutions.

— Harvard and MIT."

Although Harvard is not a
signatory to the Bahamas part-
nership, it may contribute fac-
ulty, students and other help as
part of the overall initiative.
Briggs is both a graduate, and a
former faculty member of Har-
vard's Kennedy School of Gov-
ernment.

The focus of the partnership
will be on planning goals and
strategies, but it will also encom-
pass ways to make those ideas
real, Briggs says. That includes
working with the College of the
Bahamas to expand the number
of Bahamians trained in plan-
ning; and "ensuring that public
officials are planning collabora-
tively with the public and with
private and not-for-profit organ-

Ud
EXTERMINATORS

FOR PEST PROBLEMS
PHONE: 322-2157



isations."

And all of this must be under-
pinned with comprehensive geo-
graphic and market databases,
an up-to-date digital land reg-
istry and technical support for
sustainable development legis-
lation and policies in areas like
transport, housing and town
planning.

"Minister Deveaux has clear-
ly expressed to me his under-
standing of the opportunity
question," Briggs said. "If we
have the will and assemble the
resources to do some bold things
that are required — how will we
know we're applying that will
most productively? That's what
this partnership is all about."

Although a work plan has yet
to be fleshed out, one of the first
activities will be a field study
that engages MIT students in
producing a model development
framework for Abaco, which is
on the cusp of a major transfor-
mation and is seen by most
experts as in need of urgent
attention. This study will identi-
fy sustainable goals and outline
the kinds of decisions, technolo-
gies, and investments that will
be needed to achieve them.

"The partnership will also
include consultation, by me and
my colleagues, on planning sup-
port systems and planning edu-
cation," Briggs explained. "As
well as more Nassau-specific
opportunities, such as downtown
redevelopment planning."

Briggs will be in Nassau next
week for meetings with the
prime minister and other senior
officials. He and Dr Michael
Flaxman, will give a presenta-
tion on sustainable development
to the Bahamas Historical Soci-
ety on June 16. Whereas Briggs
has a background in sociology
and engineering, Flaxman spe-
cialises in modelling sustainable
futures.

The Bahamas is in a fortu-
nate position with respect to
developmient planning because
70 per cent of our land — some
3.5 million acres — is controlled

. by.the government. Neverthe-

less, as Smith points out,

. Bahamians are increasingly fed

up with the government's mis-
management of Crown land
resources.

"I myself had watched as real
estate prices began to increase
beyond reach and I witnessed
the disappearance of many

‘beach and coastline areas to

which I had had access to since
childhood. Furthermore, the
amount of available Crown land

-was steadily declining, and it

seemed Bahamians had little to
show for it. Land for develop-
ment projects was being granted
in an ad hoc manner with little
or no prior consultation with the
Bahamian public.

"The (idea) for this thesis
evolved when I began to con-
template the implications of this
development model for my own
future."

She attributes the problem to
the complex, and often informal,
systems of land tenure that have:
evolved since Loyalist days, the
unreliability of land records, the
lack of national planning, and
the absence of laws and regula-
tions to properly manage our
land and marine resources.

A master plan for national
development is our most press-
ing need, she says. Policies tai-
lored to each island that would
cover zoning regulations, popu-
lation densities, immigration and
infrastructure needs, affordable
housing, coastal access and envi-
ronmental set asides.

On CNN this past Sunday,
former secretary of state Henry
Kissinger was asked what advice
he would give the next president
of the United States. His
answer? He should consider the
kind of world he wants to see in
four years — in detail.

In other words, we should not
rely on tactical decisions to guide
our way to the future. There
must be some overarching view
of what we want to achieve and
what needs to be done to get
there.

This is what we must do in the
Bahamas, because decisions that
are made in a vacuum, without
due care and attention, may not
benefit us in the long run.

And according to Loi Smith,
this was the conclusion reached
by almost all those she inter-
viewed for her thesis — from
government officials to business
people, developers and environ-
mental activists.

"After centuries of misman-
agement, now is a critical point
to take a step back and evalu-
ate long-range goals of where
the country should like to be 10,
20 or 30 years from today."

What do you think?
Send comments to
larry@tribunemedia.net
Or visit
www.bahamapundit.com
THE TRIBUNE






MY LTT
more students
for healthcare

@ By MEGAN REYNOLDS



Tribune Staff Reporter

A SHORTAGE of health-
care professionals has become
one of the greatest deficien-
cies of the public health sec-
tor, and the government is
addressing the issue by train-
ing more students.

The low number of health-
care workers, including labo-

ratory technicians, physiother- ;

apists and other allied health
professionals, will be boosted
by enabling more Bahamians
to study basic nursing and
pharmacology at university
level, hopes Minister of
Health and Social Develop-
ment Hubert Minnis.

With Government support,
the College of the Bahamas
(COB) plans to introduce it’s
first Bachelor of Pharmacy

degree in September in collab-

oration with the University of
Technology in Jamaica. Stu-
dents will study the first two
years at COB and the second
two years in Jamaica.

Dr Minnis said: “I am
pleased to report that a full
cohort of students has been
identified for the first class
commencing in the Fall
semester 2008.

“Again this is a classic
example as to what could be
achieved through multisec-
toral co-operation.”

Recruiting, training and

retaining nurses is another top :

priority, and the government

is supporting 148 student nurs-

es at the College of the
Bahamas so they might meet
demands on public health.

In addition to funding basic
nurse training, the Ministry is
supporting further training in
psychiatric nursing at the Col-
lege of the Bahamas, and .
Emergency Care Nursing in
Jamaica.

Eight people from the gov-
ernment health sector are also
being trained as preceptors to
oversee practical aspects of ©
the nursing education pro-
grammes.

Dr Minnis said: “This is crit-

ical to ensuring that the
unprecedented numbers of

nursing.interns receive highest :
quality of professional instruc-_ ;

tion and practical skill train-«
ing.”

The ministry has also estab-
lished a National Allied
Health Cadet Programme
with the Public Hospitals
Authority for tenth grade stu-
dents to get a hands-on intro-
duction to the healthcare pro-
fession. It attracted 37 stu-
dents last year, and has 28
enrolled for the next school
year.




LOCAL NEWS

‘No evidence of
asbestos’ in the

Hansard building

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

TESTS have revealed that
there is no evidence of
asbestos in the Hansard build-
ing, where senior justice Ani-
ta Allen’s court and the
Speaker of the House’s office
is located.

Minister of State for Legal
Affairs Desmond Bannister
said that tests carried out by
“competent and qualified
experts” led to this conclusion.

However, the building is still
deemed to be suffering from
“structural inadequacies”, and
a suitable replacement for the
court will have to be found,
he said.

Tests were conducted sey-
eral weeks ago after investi-
gations by the Ministry of
Works of these structural defi-
ciencies resulted in inspectors
finding a white substance
which sparked concern that
asbestos might be in the build-
ing.

Materials

Asbestos is the name given
to a number of naturally
occurring fibrous materials
which were used in various
manufactured goods:in the
past but if breathed in present
a potential health risk. Sever-
al illnesses can result, includ-
ing lung cancer or another
more rare form of cancer
known as mesothelioma.

- Continuing his contribution
to the budget debate in the
House of Assembly on Mon-
day, Mr Bannister spoke of
the various capital commit-
ments made in the budget
which will go towards the
improvement of the judicial
facilities.

These include $1 million
towards the construction of
the Judicial Complex, and $1:5
million towards the construc-
tion of facilities to house the
Office of the Registrar Gen-
eral. ‘

Mr Bannister said that for
many years the Registrar Gen-
eral Department has not been
given “sufficient attention or
resources” despite the “major



Desmond SEMIS Ch

role it plays in raising millions
of dollars of revenue each
year.”

He said: “This past year the
abandonment of the’Registrar
General Department has
come to an end!”

This year’s budget will allow
the main Registrar General’s
office to recruit “desperately
needed and suitably qualified
staff” and upgrade the man-
ner in which they provide their
services. Various functions will
soon be automated and
“paperless”.

Since January, more than
12,000 records of births,
deaths and marriages have

been entered by a data entry .

team into an electronic data-
base and it is hoped that
eventually all records
would be electronically acces-
sible.

Likewise, digitisation of the
department’s microfilm library
wil soon occur making elec-

tronic searches of all deeds -

and documents possible.

This follows a 13 month
period between 2004 and 2005
when no such documents were
recorded in the department,
“creating a logistical night-
mare” which caused great con-
cern in the legal and financial
communities, and which staff
are still now seeking to
catch up with, noted Mr Ban-
nister.

OPPORTUNITY

Busy, progressive Dermatology Practice, Medical Spa and

Skin Care Boutique with fun working environment requires
a Qualified Nurse and an Administrative Assistant.

Excellent salary and opportunity for advancement.

Applicants must have a warm, outgoing personality,

exceptional standards of patient care, be able to function

comfortably in a fast-paced environment and _ possess

excellent organizational ability.

Working knowledge of computers is required.

Please mail or email resume to:

Attn. Business Manager, The Skin Centre
Harbour Bay Plaza, P. O. Box N-1081, Nassau, Bahamas

Email. info@theskincentre.com

, Tae BAHAMAS _



WEDNESDAY, JUNE 11, 2008, PAGE 9

& Scotiabank’

Scotiabank (Bahamas) Ltd. is seeking the services of:

Centre Director, Scotia Private Client Group

POSITION SUMMARY:

| The Centre Director is responsible for establishing business plans for the Scotia
Private Client Group (SPCG) Centre in which they reside, and the branches in

smaller, secondary markets also under their direction, and executing them through
the dynamic leadership of teams of highly skilled professionals representing each
of the Wealth Management business lines (private banking, brokerage, and where
applicable, personal trust, investment management). These objectives will be met
through the promotion of the SPCG Centres in the marketplace and, internally
throughout the Bank.

Qualifications:

University undergraduate and/or equivalent degree/experience preferred;
Knowledge of client life cycle needs/client segmentation/market analysis/
current economic and political events;

Knowledge of investment products and services, particularly as they relate
to the High Net Worth clients; this includes features, benefits, pricing
policies and profitability levers; \

Knowledge of Microsoft Office Word and Microsoft Office Excel;
‘Knowledge of the legal, regulatory, compliance, and audit requirements;
Effective communication skills;

- Some travel required:
Scotiabank offers a highly competitive compensation and benefits package
with tremendous opportunities for personal and professional growth.

Qualified candidates only should submit application in writing, marked Private
and Confidential, by Friday, June 20, 2008 to: Manager, Manpower & Succession |
Planning, Scotiabank (Bahamas) Ltd., Main Branch, P.O. Box N-7518, Nassau,
Bahamas ore-mail ionie.diggiss@scotiabank.com.

Join the leading Conservation
Organization in the Country

Position #1:

Position Summary:

Project Site Manager
Serve as site manager to oversee all aspects of the two year
project with potential for renewal beyond two year period.

Location: Eleuthera

Duties: :
Conduct regular meeting with management, contractors, construction team
and all key persons involved in project.

Organize ordering of materials and arrange for transport

Ensures the project runs to schedule and to budget, and find solutions to
problems that may cause delays.

Conduct routine inspections of work quality

Conduct regular safety checks

Prepare monthly/quarterly progress reports for management

Skills Required
Local knowledge of Eleuthera _
Knowledge and familiarity of light (heavy) equipment
Experience with supervision of construction teams
Administrative skills
Carpentry, plumbing, electrical a plus .
Attendance of meetings/workshops outside of normal work hours will be
required
Frequent travel and over-night in Nassau

Proficiency in the use of Word, Excel, PowerPoint, Email and Internet

Position #2 General Custodian

Position Summary: _‘ Provide general assistance to project and performs various
labour duties in the building ee and performs regular
maintenance.

Duties

eo: Grass and hedge cutting

° Planting, pruning, and shrub work

e Brush cutting and trail clearing

Skills Required

° ability to lift minimum of 70 pounds

° ability to work outside in (at times extreme) all weather conditions
° ability to work with basic gardening tools

° knowledge of Bahamian plants a plus

*Preference will be given to Eleuthera residents as housing will not be provided.
Working hours: 7 am — 3pm (1 hour lunch)

Interested persons qualified in the above positions should provide a cover letter,
_resume and three references by June 16 2008, to: Human Resources Manager,
Bahamas National Trust, P.O. Box N-4105, Nassau, Bahamas, or Email: bnt@bnt.bs


ee eee

PAGE 10, WEDNESDAY, JUNE 11, 2008








































































































































| WEDNESDAY EVENING JUNE 11, 2008
7:30 8:00 10:30
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(2005) ‘R now married. ( ‘R (CC) to celebrate a man’s wedding. 1 ‘R’ (CC)







THE TRIBUNE

Let Charlie the
Bahamian Puppet and
his sidekick Derek put

some smiles on your

kids’s faces.

Bring your children to the
McHappy Hour at McDonald's in
Palmdale every Thursday
from 3:30pm to 4:30pm during the
month of une 2008,

Enjoy Great Food, Prizes and Lots of Fun.

{T\

i'm lovin’ it





pe" PRE

eraeensan

avec

see <2

21 Ep bP TE

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Oe a ERIS
THE TRIBUNE

WEDNESDAY, JUNE 11, 2008, PAGE 11



LOCAL NEWS

Man questioned in connection

with murder is released

FROM page one

Doubt has been expressed by some persons
in the community that these crimes will be
solved as they all involve gay men.

A culture of extreme homophobia in the
Bahamas makes it risky for any homosexual
who may have information about these mur-
ders to come forward.

Chief Supt Miller, however, said he is confi-
dent that the murders will be solved as there
are teams of officers working on these mat-
ters.

Mr Wilson was last week stabbed to death
with a sword or large dagger at his apartment
on Rusty Bethel Avenue.

He is believed to be the fourth gay man to be
killed within a six-month period. His death has
sparked fears of a “gay serial killer.”

Application made in Supreme Court for judicial
review of officials in local government elections

FROM page one

ernment eliminated polling divi-
sions and changed the number
of persons who can be elected
to those polling divisions with-

out notice, contrary to the pro-
visions of the Parliamentary
Elections Act and the Local
Government Act.

The application before the
Supreme Court was made yes-
terday in the name of voters in

the relevant districts, who feel
aggrieved by the matter.

The applicants were
represented by lawyer Glenys
Hanna Martin, who is also
chairman of the Progressive
Liberal Party.

Case of pair accused of aiding prisoner’s escape adjourned

FROM page one

Maycock Sr, 41, who is wanted in-the US to

tion. Lewis and Maycock Jr, the son of the
escapee, have both pleaded not guilty to the
charge and are currently on $20,000 bail. Maycock

answer charges that he is the mastermind behind
a major cocaine and marijuana smuggling ring, is
also being sought in connection with a $1.2 million
drug seizure in a West Bay Street apartment last

Jr is also wanted in the US to face drug charges.

Officials:

month.

Sudanese >

plane crash kills dozens

i KHARTOUM, Sudan

A SUDANESE Airbus car-
rying 214 people veered off the
runway in a thunderstorm and
burst into flames late Tuesday,
killing dozens unable to escape
the inferno. Officials said more
than 100 people fled the plane
before it was engulfed by tow-
ering orange flames, according
to Associated Press.

The Civil Aviation Authority
_ confirmed that 103 passengers
and all 11 crew members sur-
vived. But it said some other
passengers may have gone
home directly from the crash
on the rain-soaked runway after
crew members helped them
through the emergency doors.

The death toll wasn’t imme-
diately clear. Reports right after
the crash said about 100 were
killed, but officials later put the
toll at dozens without being
more precise. Deputy parlia-
ment speaker Mohammed al-
Hassan al-Ameen said “about
30 people” died, while police
spokesman Mohammed Abdel
Majid al-Tayeb said 23 bodies
were brought to the morgue.

The fire’s roaring flames
dwarfed the Airbus A310’s
shattered fuselage as firefighters
,sprayed water with little appar-
ent effect, Sudanese TV footage
showed. Media were kept away
but an Associated Press
reporter heard several explo-
sions after flames engulfed the
aircraft.

A survivor speaking at the
airport to Sudanese TV said the
landing was “rough,” and there
was a sharp impact several min-
utes later.

“The right wing was on fire,”
said the passenger, who did not
give his name. He said smoke
got into the cockpit and some
people started opening the
emergency exits. Soon, fire
engulfed the plane, he said.

A sandstorm had hit the area
with 20 mph winds between 2
p.m. and 3 p.m. and there was a
thunderstorm and similar winds
at the time of the crash around
9 p.m., said Elaine Yang, a

meterologist with the San Fran-
cisco-based Weather Under-
ground, a private weather ser-
vice.

The Sudanese ambassador to

Washington called the weather
“very bad” and said the runway
had been drenched by rain.
' “There was a lot of water on
the runway and they still tried
to land,” Ambassador John
Ukec Lueth Ukec said.

The head of Sudanese police,
Mohammad Najib, said bad
weather “caused the plane to
crash land, split into two and
catch fire.” There were few non-
Sudanese aboard, officials said.

The Associated Press

’ reporter at the scene said the

plane appeared to have left the
runway as it landed at Khar-
toum International Airport.
Ibrahim, the airport director,
told Sudanese TV that the plane
“landed safely” in Khartoum

_ and the pilot was talking to the

control tower and getting fur-
ther instructions when the acci-
dent occurred.

“One of the (plane’s) engines
exploded and the plane caught
fire,” Ibrahim said. He said bad

‘weather did not cause the crash,

which he blamed on a techni-
cal problem.

Raqeeb Abdel-Latif, head of
the Sudan Airways office in
Damascus, Syria, said the plane,
which joined the Sudanese
national carrier seven months
ago, took off from Damascus
and stopped in Amman, where
34 additional passengers came
on board.

Due to inclement weather,
the aircraft stopped at Port
Sudan Airport along the Red
Sea, picking up 35 passengers
and refueling before heading
back to Khartoum, the
Sudanese ambassador said in
Washington.

Spokesmen for the Federal
Aviation Administration and
the National Transportation
Safety Board in Washington
said they were monitoring the
situation. The Khartoum air-
port was shut down until
Wednesday morning, officials

said.

Sudan has a poor aviation
safety record. In May, a plane
crash in a remote area of south-
ern Sudan killed 24 people,
including key members of the
southern Sudanese government.

The Airbus A310 is a twin-
engine, widebody plane used by
a number of carriers around the
world. Typically configured with
about 220 seats, it is a shorter
version of the popular A300.

An Airbus spokesman in
Paris declined immediate com-
ment on the crash.

In July 2006, an A310 oper-
ated by Russia’s S7 Airlines
went off the runway after land-
ing in Irkutsk, smashed into
adjacent buildings and caught
fire, killing 123 of the 203 peo-
ple aboard.

Although deaths from air
travel have fallen over the past
two years, the number of seri-
ous jetliner accidents increased
last year for the first time in a
decade, according to a report
last month by the International
Air Transport Association.
Nearly half of all jet accidents
occurred on landing in 2007.

In 1997, then-President Clin-
ton issued an executive order
barring the export of goods and
technology to Sudan because of
the country’s “support for inter-
national terrorism, ongoing
efforts to destabilize neighbor-
ing governments, and the preva-
lence of human rights viola-
tions.”

The United States maintains
a broad array of sanctions on
Sudan that bar the export of
most goods, services and tech-
nology, including advanced nav-
igation systems,

In July 2003, a Sudan
Airways Boeing 737 en
route from Port Sudan to Khar-
toum crashed soon after take-

. off, killing all 115 people on

board.

After that crash, Sudanese
officials blamed sanctions for
restricting vital aircraft parts.
The U.S. State Department said
there was no ban on equipment
needed for aviation safety.

Sandals Royal Bahamian Resort & Offshore Island

Invite application for the position of:

FINANCIAL CONTROLLER

Must posses knowledge of the application of generally accepted accounting
principles, internal control systems and computerized systems, ability
and willingness to train, counsel and coach employees; proven ability
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re-engineering of existing ways of doing business to facilitate improvements
in productivity as well as strong leadership in areas of responsibility.

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rp.sandals.com





>







TULUM Econ ash mole

‘Brothel being run’
on West Bay Street

FROM page one

cleaned up this beach (Western Esplanade) from

‘i purse-snatching and people having sex on the

: beach, and people robbing people.

: “This was the place where homosexuals would
: be on the beach in the night and wait for men.
i This was the gay zone in the back here, where

'} boys were coming to have sex with men in the

: back here, and.we had to break up all of that.

: “So what happens now is that sometime dur-
: ing the night they realise that this place over
: here (the abandoned Mayfair Hotel) is some-
: what private and they were able to migrate into
: this area and ‘hang out’,” ASP Sands said.

: Reportedly, most of the Jamaican women
: used in this brothel are in the Bahamas on four





: i ;
iv
YOUR! CONNECTIO. O THE WORLD

VACANCY



to six week intervals, and earning at least $75 a
time for their “expertise.”

Thanks to their Bahamian “pimps”, ASP
Sands said, these women have also become
“mobile”.

“They now rent SDs (self-drive cars) and go
from hotel to hotel, or parade up and down Bay
Street and then bring their clients back to the
hotel,” he said.

On Monday night one of the brothel’s
“patrons” had to be admitted to Princess Mar-
garet Hospital after acid was thrown in his face
while he was with one of the Jamaican women,
Mr Sands said.

“Someone is going to get killed in there soon.
That is where this is heading. We have to get our
hands around this,” he said.



Senior Associate/Database eae Cr




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Seven (7) years experience as an Associate;

5 years experience with AIX, OS 40
Strong leadership ability






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HUMAN RESOURCES & ADMINISTRATION

P.O. Box N-3048 Nassau, Baharnas
NASSAU, THE BAHAMAS

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he DBA also researches patches and implements database upgrades and releases to keep
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ness Partners well informed of ele in policies and
ve issues, implement upgrades, and deliver solutions.

Manage the day-to-day health of the IT Oracle, SQL and DB2 production databases;
Implement and support various test and training database instances as required;

Installs new databases, configures them, tunes them, and monitors performance

Utilizes diagnostic tools and explain plans to identify database performance issues;
Modifies the database schema where required to implement application system upgrades;
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Bachelor's degree in Computer Science, Computer Engineering, Information Engineering,
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PAGE 12, WEDNESDAY, JUNE 11, 2008

LOCAL NEWS

THE TRIBUNE



Father with custody ©
summoned to court
alter TV appearance —

i By MEGAN REYNOLDS
Tribune Staff Reporter

A FATHER who has custody of his children was summoned
to the Supreme Court for discussing parenthood as a single
father on television while going through divorce proceedings.

The father of three became the primary care giver for his chil-
dren after he separated from his wife and a judge granted an
interim custody order in his favour nine months ago.

The local television show aired last year highlighted the
unusual case of a Bahamian. man being the primary care giver
for three daughters who are all honour roll students at school.

The father said: “Basically I was the main breadwinner and
caretaker of those children from when they were born.

“They have been raised properly. They know right from
wrong and to just follow the Lord Jesus.

‘They are good girls, they don’t give me any problems and I
am proud of them.”

However, the caring father was warned by the Supreme
Court last month that his appearance’ on television was in
breach of the Contempt of Court Act as it could interfere with
the course of justice in divorce proceedings now before the
court.

The Contempt of Court Act prohibits the publication of
material which might prejudice a ‘fair trial by influencing the
minds of the jury.

In the Supreme Court hearing last month, the father’s lawyer
presented evidence to show that the mother had repeatedly vio-
lated all three of the interim orders for the maintenance and
welfare of their girls.

However, the father claims the immediate welfare of his
children was not discussed; he was only told to apologise for his
appearance on television, and before the court was dismissed the
judge encouraged the couple to get a divorce.

The father of three said: “I understand from the judge that —

speaking to the media is considered contempt of court and a
prisonable offence.

“T love my family dearly, however, I love the Lord Jesus
Christ and his gifts of righteousness, truth and free will even
more

“ Therefore I accept whatever punishment is given to me by
the judicial system of the Commonwealth of the Bahamas.

“Tf this means giving up my girls my wife can Pick them up
from our home. I await my fate from the courts.”

Share your news

| The Tribune wants to hear
| from people who are
| making news in their
} neighbourhoods. Perhaps -

| you are raising funds for a
good cause, campaigning
| for improvements in the
area or have won an
} award. .
If so, call us on 322-1986
) and share your story. ©







Justice system ‘on
brink of collapse’

FROM page one

thousand murders, and that doesn't
include attempted killings or causing
grievous harm.

“Our murder rate is higher than
the US and three times higher than
Canada. ;

"We have intercepted arms ship-
ments for the Bahamas that included
assault weapons, grenades and explo-
sives, and we could soon see the
spread of kidnappings here like they
have in Trinidad or terrorist actions
like they have in Jamaica."

He added that there were already
areas on New Providence like Nas-
sau Village where police had to go
in large numbers of 30 or more offi-
cers if they wanted to make an arrest.

"We have to control it on New
Providence. If this spreads to the out
islands we will be unable to control it
and we will go back to the days of
piracy."

Forum

Other panelists at the forum on
Monday evening iricluded Canon
Kirkley Sands, lawyer Leandra
Esfakis and COB criminology lectur-
er E'Thegra Symonette.

The discussion was moderated by
Jessica Minnis of the School of Social
Sciences.

Bell told the audience that the

Bahamas was witnessing a "paradigm

shift" in the way people are being
killed, and the justice system itself
had become the biggest obstacle to
crime reduction.

"One third of accused murderers
are out on bail, including those
‘accused of up to 10 murders.

“The statistics and reports are all
there.

“We know what is happening. The
only question is who is going to be
next."

Bell said the only way to address
the problem was for the political class
as a priority to agree on a common
-agenda for crime reduction and com-

prehensive legal reform.

"I can go out on the street right
now and buy machine guns, ammo
and bullet proof vests. Already, more
than half of our murders and two
thirds of armed robberies and injuries
are committed with firearms."

"If we can go on TV and say
(Samuel) 90 (Knowles) is a god, we
have not got our priorities right.
What about all the people he killed
with cocaine?"

The reference was to a ZNS news
segment last week that featured res-
idents of Knowles' former neigh-
bourhood praising the convicted drug
trafficker for being a "Robin Hood"
and pillar of the community.

Knowles. was extradited from the
Bahamas in 2006 to face federal nar-
cotics charges in the US. He was con-
victed in March and sentenced to 35
years in prison.

"We have still not recovered from

‘our drug years and if you read the

1984 commission of inquiry report
you will see that the whole fabric of
society was corrupted by the drug
trade.

. “Four hundred crime files a month
came across my desk and about a
third involved drugs."

He called for an independent
national ombudsman to combat cor-
ruption, which he said permeated the
entire society, including the police,
business and government. He
declined to answer a question from
COB lecturer Michael Stevenson on
the degree of political pressure that
police intelligence officers faced.

He said rape was another serious
problem for the Bahamas, revealing
that infants as young as five months
were being raped by people with

HIV/AIDS, often putting the victim's

parents into Sandilands.

"There are 100,000 matters before
the courts, including 11,000 criminal
cases and 48,000 traffic cases," he
said.

"That's about a third of the total

population before the courts, and it is
getting worse and worse. '
He pointed out that the investiga-

tion of serious crimes was compro-
mised by the lack of a police forensic
lab and other facilities.

For example, there were only 10
officers assigned to the murder
squad.

And when samples were sent to
the US for forensic tests, they had a
low priority which further con-
tributed to the delays in the justice
system.

He said more judges were urgent-
ly needed because the judicial sys-
tem had no choice but to set accused
persons free on bail if they could not
be tried in a timely fashion. Many of
these persons on bail were commit-
ting more crimes to help pay their
legal fees, or targeting witnesses. And
all those already convicted of mur-
der now had to go through re-sen-
tencing hearings, putting further
strain on the system.

Decisions

"It's going to get a lot worse unless
we take the bull by the horns and
make some very tough decisions,"
Bell said. "We have the capacity to
act, but we lack the tenacity. For
example, why are we still charging
unlawful killers with murder when
we know that capital punishment can-
not be applied? We should amend
the law to provide for degrees of
killing to make it easier to convict
and implement a System of formal
plea bargaining.

"Why are we still wasting time on
Cordell Farrington (who was charged
with the murder of several school-
boys in Freeport five years ago) when
he has already been convicted and
sentenced for (another) murder?"

Bell said the volume of criminal
cases faced by the police was enor-

- mous. In addition to murders, there

were some 1200 armed robberies a
year, not to mention all the other
serious offences.

"T had case files going back to 1970
to be tried. We have to fix the sys-
tem."

preyed



“Informative. I can be sure to read something of value in The Tribune. It is filled with

information about local news, sports, entertainment and world news — subjects that are

important to me. The Tribune is my newspaper.”

The Tribune

JASON RAHMING
CONSTRUCTION FOREMAN






WEDNESDAY,

JUNE 11,










~~

Andretti Bain sets his eyes

\

on NCAA Outdoor crown

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

resh off winning

the United States

Track and Field

and Cross Coun-

try Coaches Asso-
ciation’s Midwest Region Ath-
lete of the Year, quarter-miler
Andretti Bain is getting set to
close out his collegiate career
at Oral Roberts University on
a high note.

Bain, who won ORU’s first
NCAA title in any sport.at the
NCAA Indoor Champi-
onships, will be out to add the
NCAA Outdoor crown to his
resume this weekend at the
Drake Stadium in Des Moines,
Iowa. He will be one of four
Bahamians qualified for the
final collegiate meet for the

_ year. .

The other three are Rudon
Bastian, a junior from
Louisville, who is entered in
the men’s long jump (7.87
metres); Bianca Stuart, a junior
at Southern Illinois in the
womern’s long jump (6.41
metres) and Cache Armbris-
ter, a freshwoman at Auburn
University, in the women’s 200
(23.13).

Runner-up

As the runner-up at the
NCAA Midwest Regional two
weeks ago, Bain goes into the
Nationals with a personal best
of 45.38 seconds, which he ran
at the Summit League Cham-
pionships last month in quali-
fying for the 2008 Olympic
Games in Beijing in August.

Ranked number seven on
the list of NCAA qualifiers,
Bain will compete in the heats
today. The semi-final is sched-
uled for Friday and the final
will be contested on Saturday.

For Bain, a graduate of St
John’s College, is not only
looking at making his first final
at the NCAA Championships

' the prestigious award, but he’s

‘ and I’m not.concerned about

’ here this week, it will take 44-

in the three years he’s com-
peted, but he wants to win it.

“I’m feeling pretty good
about it because it’s a chance
for me not to feel pressured
about it,” Bain said. “As far as
I’m concerned, the number |.
one goal for me this year is to
win this.

Feeling

“I’m feeling pretty good
because I had a good start to
this week when I found out
yesterday (Monday) that I was
named Midwest Regional
Male Athlete of the Year. So
that’s a big accomplishment.
I’m very proud of that. That’s a
very good sign.”

Not only has Bain never won

never made it past the first
round of the 400 at the Nation-
als. So he’s hoping that he can
finally get over the hump this
weekend.

“T want to run my personal
best and perform very well this
weekend,” said Bain, who
admitted that he’s been hun-
grier than he’s ever been as
he’s more determined to suc-
ceed with this being his final
year in college.

“Pve really been. working
out hard this year. God has tru-
ly blessed me in terms of my
health. My body is feeling fine

any injuries. I’ve been work-
ing out with the physiothera-
pists here and me and my
coach have a determination to
succeed.”

Having already run his PR,
Bain said in order to win the
title, he will definitely have to
crack the 44-second barrier
because “the field that we have

seconds to do it.”

Once he’s completed with
the NCAA’s, Bain will be com-
ing home for the Bahamas
Association of Athletic Asso-
ciations’ Scotia Bank National
Championships, June 27-28.



FRESH OFF winning the United States Track and Field and Cross Country Coaches Association’s Midwest
Region Athlete of the Year, quarter-miler Andretti Bain is getting set to close out his collegiate career at Oral
Roberts University on a high note...

TE
alas

‘BASKETBALL
BBDBA MEETING

THE Bahamas Govern-
ment Departmental Bas-
ketball Association will
hold its final team meeting
tonight at A F Adderley
Junior High School at 7pm.
At the meeting, all teams
are required to submit their
team and players’ fees as
well as team registration
forms.

The league will officially
start on Friday at 7pm at D
W Davis Gymnasium with
three games on tap. How-
ever, the make-up will be
decided at the meeting. -



Waiting for him is defend-
ing champion Chris ‘Bay’
Brown, who lowered the
national record to 44.40 in
Oslo over the weekend at the
Exxon Mobil Bislett Games.

“T watched the race on Y-
tude and I was supposed to call
him yesterday (Monday) to
congratulate him, but I didn’t
know if he was back in the
States,” Bain stated.

“But I’m very happy for him.
Personally, I’m not concerned
about it-at all because the low-
er the record goes, the faster
everybody else have to run to
get it. I think the performance
will add to the nationals.”

Bain warned Brown and his
rivals that he’s coming home
to win the Nationals. But if he
falls short, he wants to make
sure that he secures his spot in
the 400 in Beijing and on the
4x400 relay team.



Olympic qualifying hopes ‘slim’ for relay

@ By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net



SWIMMING



DESPITE a new national record
and an ascension in the world rank-
ings, Olympic head coach Andy
Knowles suggests the chances of an
Olympic qualification for the ladies
4x100m relay team remain slim.

The team of Alana Dillette, Alicia
Lightbourne, Teisha Lightbourne, and
Arianna Vanderpool-Wallace set a
new national record in the 4x100m
freestyle relay at the Charlotte UJtra-
swim Meet in North Carolina last
weekend with their time of 3:51.77s.

The team beat the 3:55.91 posted by

the bronze medal winning team at
the Pan Am Games made up of Dil-
lette, Vanderpool-Wallace, Ariel
Weech and Nikia Deveaux.
With the new mark, the team pro-
gressed to 24th in the world rankings.
For Olympic qualification in relay
competitions, the top 12 finishers at
the 2007 World Aquatics Champi-
onships received an automatic bid.
The remaining four spots will be
selected by FINA based on the results
during the qualifying period.
Knowles said he applauds the relay
team’s effort and congratulates them
on a new national record, but indi-

vidual qualification remains the para-"

mount focus.

“We were pretty pleased with the
over two second drop in the 4x100
free relay. It averaged everybody hav-

ing to go a .57 spilt for the 100 free
which was our best average ever,” he
said, “The emphasis now is to try and
get individuals to see if they can make
the Olympic times rather than focus
on the relay.”

Knowles said the team has made
valiant efforts chasing the qualifying
standard, despite it being a secondary
focus. :

Focus

“We have never really made the
relay our main focus, first of all
because you have to get four girls
capable of qualifying, so the emphasis
is still on the individuals trying to get
there,” he said.

“JT have said for a long time our
chances are very slim and going after
the relay was not our main focus but
at the same time we have not closed
the door on it.”

Knowles said the relay team will
make a final at the upcoming
Bahamas Swimming Federation
Nationals, but the focus will be upon
several swimmers on the cusp of indi-
vidual qualification.

“With just one more opportunity
to get there and still being about six
seconds off, the chances of that are
fading but the individual odds for
many of our swimmers look bright,”
he said, “There are a lot of other

swimmers close to achieving their
marks like Mackalya Lightbourn, the
Lightbourne sisters and Ariel
Weech.”

Nikia Deveaux became the first
Bahamian female swimmer to ever
qualify for the Olympics when she
made the trip to the 2004 Games in
Athens in the 50m freestyle.

Thus far, both Dillete and Vander-
pool-Wallace have qualified in indi-
vidual events for the Beijing Games.

Dillete achieved the 100m back-



stroke qualifying standard at the Ohio
State Grand Prix in April with her
new national record of 1:03.02s, just
below the Olympic B standard of
1:03.86s.

Vanderpool-Wallace, who recently
completed her senior year at Bolles
School in Jacksonville, Florida,
achieved the breakthrough feat in the
100m freestyle at the Missouri Grand
Prix in February.

Her new Bahamian record of 56.67s
also surpassed the Olympic B stan-

team

ARIANNA Vanderpool-
Wallace in action...

dard of 57.17s.

Jeremy Knowles, arguably the most
prolific swimmer in Bahamian histo-
ry, is the third athlete to qualify for
the Beijing Olympics thus far.

Knowles, who holds all but four of
the 16 Bahamian long course nation-
al records, has qualified for four
events. Set for his third Olympic
appearance, he has qualified for the
200m fly, 100m butterfly, 200m but-
terfly, and his speciality, the 200m
individual medley.

bs
PAGE 14, WEDNESDAY, JUNE 11, 2008

SPORTS.

Veteran track and









VETERAN track and field coach Keith Parker (second from left) and North Andos high school teacher/coach
Gonzalo King (back row centre), with athletes who took part in the clinic.

MPLOYMENT

PPORTUNITY



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| some experience in QuarkXPress.

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DA60743
c/o: Tribune
P.O. Box N-3207
Nassau, Bahamas

or fax to (242) 328-2398

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TRIBUNE SPORTS

field coach ‘jumps’.
clinics in Andros



KEITH PARKER with eight-year-old long jumpers Kylon Newton (left) and Nigel La Fleur, students of Nichol-
I's Town Primary School, at the Carl Oliver track, North padi High School, where he conducted a clinic for

long, triple and high jumpers.

KEITH PARKER, veteran
track and field coach, who has
coached numerous Bahamian
Olympic and World Champi-
onship teams, visited North

‘Andros and conducted coach-

ing clinics in triple, long and
high jump.
Coach Parker arranged the

_ visit with North Andros High

School teacher and coach Gon-
zalo King. ;

Coach Parker noted: “The
idea began over a year ago
when I saw the talent of young
triple-jumper Tamara Meyer,
at the 2007 Carifta trials.

“When I learned she was







NISSAN SN |



from Andros, I spoke with her
teacher/coach, Mr King, and
offered to assist the young ath-
lete if he thought I could help
her.

Tamara won a silver medal
in the under-17 division at this
year’s Carifta Games, even
though she is still only 14. I
contacted Mr King and he
agreed that I may be able to
help her achieve the triple
jump qualifying distance of
12.20m, for the 2008 World
Junior championships. Since I
would be travelling to Andros,

' Mr King got a group of ath-

letes together so that a ‘clinic’

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Attending the clinic were
Tica Grant 14, Keisha Bak-
er,13, Deneisha Bagot, 13,
Shantone Evans, 13, and
Nicholl’s Town Primary School
students Kylon Newton and
Nigel La Fleur, both just eight
years old.

Coach Parker noted: “They
all worked extremely hard in
two, 2-1/2 hour sessions and
made amazing progress. The
two young boys have incredi-
ble talent and I believe that
Tamara could make the world
qualifying mark at the trials on
June 20-21.”

















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TRIBUNE SPORTS



SPORTS

TRE TOAD

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

WORLD champion high-
jumper Donald Thomas may
have finally found his footing
as he prepares for his first
appearance at the Olympic
Games in Beijing in August.

Over the weekend at the
Prefontaine Track and Field
Classic in Eugene, Oregon,
Thomas opened his 2008 out-
door season with a fourth
place finish in his speciality,
clearing a height of 7-feet, 4
1/2-inches.

Thomas, who turns 24 on
July 1, said he had to go
through a major adjustment
competing for the first time
in the new Adidas high jump
shoes specifically designed for
shim from scratch.

If you remember, Thomas

is just in his third season, hav-
ing made the fantastic trans-
formation from the basket-
ball court to the high jump
pit where he launched his
career at the Commonwealth
Games with a fourth place
finish in 2006 in Melbourne,
Australia, to the gold last year
in Osaka, Japan.
. Looking back at his perfor-
“mance on Sunday, Thomas
said his only problem was that
increments were moved up
by five centimetres faster than
he anticipated, rather than the
normal two centimetres in a
regular meet.

“The competition was
going too fast, so I really was-
n’t able to get into a groove,”
Thomas pointed out. “My
approach was off because I
didn’t have time to make the
adjustments because they
moved up the increments too
fast.”

But Thomas, who had to
take some tiie off to recu-
perate from an ankle injury
he sustained indoors in Feb-
ruary, said he took satisfac-
tion in the fact that what he
did was quite comfortable
with the new footing in his
shoes.



WEDNESDAY, JUNE 11, 2008, PAGE 15






























































“I believe I’m right there
and I can do great things this
year,” he insisted. “It felt very
good jumping in the new
high-jump shoes. It was right
to my liking because I had the
bounce and the height. I just
didn’t have-the right approach
to the bar.”

Today, Thomas will leave

‘for Europe to fulfil a com-

mitment to compete in a meet
on July 14 in Hungary. After
that, Thomas said he will gear
himself up to come home and
compete in the Bahamas
Association of Athletic Asso-
ciations’ Scotia Bank Nation-
al Championships and
Olympic Trials at the Thomas
A Robinson Track and Field
Stadium from July 27-28.

“J just want to come back
home and then go to the
Olympic Games and bring
back the medal,” said
Thomas, who has his sights
set on the gold, but noted that
he just wanted to get back on
the podium as he did at his
first World Championships
last year.

While he tested the new -
shoes for the first time,
Thomas said his coach had
instructed him that if the new
shoes pose a problem for him
in Beijing, he’ can revert to
the pole vault shoes he used
last year in Osaka to claim
the gold.

“By the time the Olympics
roll around, if I’m not jump-
ing the way I was jumping last
year, I havesthe option of
using the shoes I used last
year,” Thomas lamented.
“My coach just wants me to
use the new shoes for safety.

“But he said if I want to
change, I can take the risk at
the Olympics. He just want
me to do whatever is neces-
sary to get a medal in Beijing.
But I feel comfortable in
them. I just have to see how it
goes in Hungary and at the
Nationals.”

In any event, Thomas
assured the Bahamian public
that he will be ready to com-
pete at his best in Beijing.








PAGE 16, WEDNESDAY, JUNE 11, 2008

THE TRIBUNE



LOCAL NEWS



DATTA TO

Seth

Damianos Sothehy’ S International
Realty opens Spanish Wells Office

DAMIANOS Sotheby’s International Realty announced
that it has opened a second office in Eleuthera on the Beeune
island of Spanish Wells.

Darrin Sands will be heading and operating this office
which is located in the centre of the Southwest commercial and
commerce area on Samuel Guy Street.

This is the 7th office for Damianos Sotheby’s Internation-
al Realty.

“The whole community of Spanish Wells i is invited to cele-
brate the opening of this new office on Saturday, June 14
from 2 to 4pm,” said the company in a press release. “Every-
one is welcome to come and enjoy the festivities and refresh-
ments.”

The company said expanding into Spanish Wells reflects the
its commitment to provide quality service and unique island
real estate.

“Spanish Wells is well known for its prosperous lobster
fishing and its relaxing lifestyle with New England ambiance
on a small and charming out-island located off the northern tip
of Eleuthera. This new office will provide professional real
estate service, featuring extraordinary properties on Spanish
Wells, Russell Island, Harbour Island, North Eleuthera and

Royal Island,” said the statement. “Darrin Sands is a native of

Spanish Wells, a licensed pilot and an experienced fisher-
man whose extensive local knowledge and local contacts will
be of great advantage to his clients, especially newcomers to
the Bahamas.”

Royal Island is a developing community on a private island
a few miles from Spanish Wells by boat that Damianos Real-
ty says is destined to become a premier luxury resort.

Royal Island offers many real estate opportunities includ-

ing the Royal Island Founder’s Club with Oceanfront Home-
sites and Villas. When completed, the resort will house a
Jack Nicklaus Golf Club, deep-water marina, five-star bou-
tique hotel and championship tennis courts.

Damianos Sotheby’s International Realty is headquartered
in Nassau with offices in Lyford Cay; Governor’s Harbour and
Spanish Wells, Eleuthera; Marsh Harbour and Hope Town,
Abaco; with associates in Treasure Cay, Abaco; Freeport,
Grand Bahama, and Indigo Island, Exuma.

Through its affiliation with the prestigious Sotheby's Inter-
national Realty brand, Damianos Sotheby's International
Realty notes that it is ‘able to provide global exposure for
their Bahamian property listings.

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Donations for Lewis
Yard Primary School

GRAND BAHAMA- Dona-
tions collected by concerned citi-
zens over a 10-day period were
delivered to the Lewis Yard Pri-
mary School by truck last week.

It took a group of 12 children
and adults over 30.minutes to
unload the truck.

Donations came from all over
Grand Bahama via three persons —
Larry DeGregory, Alex Cafferata,
and Chiara Petrucci.

Mrs Cafferata heard about the
plight of the.school through Mr
DeGregory of ‘Cookies for Kids’
group. :

Mr DeGregory and his group
have been supporting the school
since they began their programme
back in March of this year. Mrs
Cafferata told her sister Sarah
Hamilton, production manager on
the German film, “The Sea Wolf”,
about the student’s needs and
together they began donating
lunches to the school each day.

They also donated all the

remaining food from the movie set -

to the school, now that shooting
has completed and the crew is leav-
ing the island.

The DeGregorys, Mrs Cafferata
and Ms Petrucci teamed up and
contacted their friends, family and
the general community through
Facebook.com, e-mails, telephone
calls, word-of-mouth, and though
TheBahamasWeekly.com web site
to get as much support for the
school as possible.

The donations poured in. Offer-



IT TOOK a group of 12 children and adults over 30 minutes to imicad the truck. Bonations came woin aii
over Grand Bahama via three persons — Larry DeGregory (father behind the ‘Cookies for Kids’ group), Alex

Cafferata, and Chiara Petrucci.

ings ranged from a brand new
microwave, to books, clothes, fur-
niture, toys, kitchen items and
food.

Excited students of the Lewis
Yard Primary School helped carry
the bags and boxes stuffed with

goodies from the truck into the.

school’s library.

From there the goods will be
sorted, grouped and boxed for
donation to families in need in the
area.

Many families are in need of the
simple basics like-can openers or
electric kettles, stoves or even
burners. Many of the children have
no warm clothing for the winter
months.

_ Kelley Albury, an employee at
the school, now has the task of get-
ting the goods to the families.

All community groups, busi-
nesses and any interested individ-
uals on the island are encouraged
to become involved, as the needs



ON MAY 30, a transport truck arrived at the Lewis Yard Primary School to unload donations made by.concerned
citizens over a ten-day-period. Seen here along-with-children and-helpers from-the school-are Alex Cafferata
(holding her son Casper), Larry DeGregory (centre), Kelley Albury (in red), and Chiara Petrucci (far right).

Double Crunchâ„¢
Sandwich

Computer Technician

Office Administrator

Project Manager

Web Designer
Creal ter ata
a Nene

Network Technician

laren tare lp\ mine] t oe

of these families are ongoing.
The Lewis Yard Primary stu-

‘dents do not necessary live with

their immediate family, and many

are grouped together with older

women who care for them.
Approximately 236 children are

enrolled at the school, but only 49

students are registered in the gov-
ernment lunch programme.

Many families are living up to
eight people in two-room shacks
with no plumbing or electricity,
and have to:stuff old clothes or
plastic bags in the holes in the walls
to protect them from wind and
rain.

They are left cold in the winter
months and overheated in the sti-
fling summer months. They have a
half-mile hike to collect water in
buckets for drinking and bathing.
The school’s playground consists of
a rocky dirt field with a single pic-
nic bench.

The next delivery day for dona-
tions will be Thursday June 12.
Anyone wishing to assist with
donations, or with specific tasks,
like helping build a cafeteria for

’ the school, or even adopt a family

or home can contact the DeGre-

~ gorys (Cookie for Kids) at Cook-

ieKids4Kids@yahoo.com. Chiara
Petrucci can also be contacted at

727-2030. Alex Cafferata at 375--

2326. Lewis Yard Primary School
can be contacted at 242-353-7001.





|THE TRIBUNE



WEDNESDAY,

JUNE

deky,

SECTION B ¢ business @tribunemedia.net



Government collects mo



ROYAL @ FIDELITY

Money at Work

NASSAU OFFICE

(242) 356-9801.

_ FREEPORT OFFICE
- (242) 351-3010



than $13m in gaming taxes

Minister says gaming as an industry is a significant component of our economy

dewcbewcc ete cc de cece nce meee need na cewek ce caee ee conn en doce nce nee c ec meee seks cn ce een em eee secon shane ce cence ese cence nn een enone nace nn sete se nent neccnncnnanesan sence nedp ann ns sande teas awd en neat ana na nse wn awn naan mann ncn nanan esas ana panne nnn ans as en sania neh pen ema nen doe ban sansa ecanmandnnponeasbarenstessenasnanensonensasesmesecwcanassesecessoeh

@ By CARA BRENNEN-BETHEL
Tribune Business Reporter

he government collect-

ed almost $13.5-million

in gaming taxes between

March, 2007, and. Feb-

ruary, 2008, the Minis-
ter of State for Tourism and Avia-
. tion Branville McCartney told the
House of Assembly during the budget
debate.

Mr McCartney said that gaming as
an industry is a significant component
of the economy.

“This is evident not only by the
number of Bahamians employed in
gaming, now pegged at 2,300, but also
in the annual tax revenue generated

March, 2007, to February, 2008.” -

Davis commends
sovernment for

_Mr Mecanney
revealed that a
breakdown of
the casino gross
revenue and |}
government tax |}
revenue figures
shows that over
that time gaming.
taxes collected
for each casino
are as follows: —

Atlantis Par-
adise Casino
$12,519,380.77;
The Crystal Palace Casino, had
$2,150,000 in payments deferred in
accordance with the previous agree-
ment with the government while the
Isle of Capri on Grand Bahama 2 paid

McCartney



a By CARA BRENNEN-
BETHEL .

- Tribune Business Reporter

$845,696.18 and The Caine at Emer-
ald Bay on Exuma paid $132,050.16.

Mr‘McCartney also. pointed out
that draft legislation to amend the
Lotteries and Gaming Act Chapter
387 is proposed to change various
fines in the act which were described
as dissuasive.

He explained that proposed
increases in fees are the result of the

report in the Caribbean Financial.

Action Task Force (CFATF) report
on gaming in the Bahamas.

CFATF is an organisation of 30
- states in the Caribbean region, includ-
ing the Bahamas, which have agreed

to implement common counter mea-
sures to address the problem of crim-
inal money laundering. It was estab-

lished as a result of Hei con-

vened in Aruba in May, 1990, and
Jamaica in November, 1992.

_ The main objective of the CFATF
is to achieve implementation of and
effective compliance with its recom-. :

mendations to prevent and control

money laundering and ee ‘the,
‘financing of terrorism.
The collection of gaming taxes has

in the:past been a challenge.

According to the 2006 Auditor
General’s report, outstanding casino
taxes were at shocking. levels and $
the report noted, the casino owed the

amounted to $72,620,721.40. °

The report went on to say that The a
Paradise Island Casino was the only -
such licensee at the time that was ie aS
to date on its casino tax payments for :.

that particular year. In fact, the casino

which 1 is currently operated at Atlantis

‘Bank to unleash n new electronic services a

| “Byes further expansion :

overpaid its bill by $56,500.31, and
the auditor general noted that its tax-

/ eS were paid on a consistent basis

throughout the year.
Crystal Palace’s casino total basic

and gaming taxes for 2005/6 amount-

ed to $5,205,841.05. However, the

total amount ‘paid during the period

was only a meagre $3,239.82. An

_ amount of $2,150,000 was shown as a
deferred payment of taxes as per an

agreement between the Crystal Palace _
Casino:and the government. In total,

government $5,202,601. 23 for the

period under review.
a Emerald re Casino opened ,

“SEE page 2 2B




the Family Island

. Development Act

@ By CARA BRENNEN-
BETHEL
' Tribune Business
Reporter



PHILIP DAVIS, PLP MP
for Cat Island and San Sal-
vador, has commended the
government for its efforts to
stimulate the economies of the
lesser developed islands
through the Family Island
Development Act.

Speaking with Tribune Busi-

ness in Cat Island, Mr Davis
said the incentive will spur
development on all the islands
included.

“It is a very good incentive
and is likely to spur develop-
ment on all the Family Islands,
because any time you can bring
in goods duty-free it will cut
the cost of building and
encourage people to build and
so [commend the government
for that act and hopefully the
people will take advantage of it
and benefit.”

The administrator on Cat

Island, Charles King, said the _
exemption would allow resi- ’

dents to apply savings to sup-
plies or other items to improve

the aati of their businesses.

. He also said it would help to

maintain the current upswing
in construction on the island.
Under terms of the provi-
sions, lesser developed islands
will be granted special conces-

sions for construction materials .
to be used in new construction,
rehabilitation and extension of _

new and exsisting buildings.
They will also be allowed

duty-free and excise tax free

import of any machinery used

for the clearing of land for

farming or construction.
Mr Davis said Bahamians in

the lesser developed islands’

are feeling the pinch of eco-
nomic times and the high cost
of fuel, which on many have
passed the six dollar mark.
However, he remained opti-
mistic that Bahamians will be

able to overcome the chal-..

lenges

“We are a resilient people

and from time immemorial we
have been able to find.a way to

live through the good and the

bad, the ‘highs and the lows,
and at the moment we are cop-
ing as best we can. We will sur-
vive through this.”

Bahamas must take
advantage of citizens’
creative talents

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

THE Bahamas has the
potential to distinguish itself
from its competitors and enter
into a whole new period of cre-
ative economics by taking
advantage of the creative tal-
ents of its citizens.

Roosevelt Finlayson, cre-
ative collaborator of the Festi-
val in the Workplace pro-
gramme, explained yesterday
that given the trying and chal-
lenging economic times the
entire world is now experienc-

. ing, it is essential that Bahami-
ans find a way to set them-
selves apart not just in the/ser-
vices they provide, but in the
delivery of those services,

He said this is why thé Fes-
tival in the Workplace pro-

‘gramme can be so essential to

the revitalisation of Bahami-
an businesses. He explained
that the Festival in the Work-
place programme exposes busi-
nesspersons to thé arts such as
Junkanoo to encourage the
creative process:and organisa-
tional excellence into skills
they can use in the workplace.

“If you take for example, :
Junkanoo, Bahamians are very °

passionate about that and
about the level of quality which
they put into the process of
making those costumes. So
there are lessons which can be
learnt there about creative
thinking and the process
involved in maintaining quali-
ty. ”

He added that in many cas-
es, some employees would like

SEE page 12B

‘service delivery and is also
- looking at further expan-

_and to. Family Islands

a presence.

THE Bank of the f
Bahamas is set to unleash a |;
series of new electronic ser- },
vices in an éffort to |
improve on its customer

sion to nearby: countries

where. it does not yet have |
Speaking with Tribune

Business on the heels of

opening of. the bank’s
newest branch on Cat

Manco ;

Island, Paul McWeeney, BOB’s managing | ditec-

tor, said that, as they look at expanding, the
bank will be focused on its delivery of services.
_ “We will be unleashing a series of electronic

features with the aim of diversifying the delivery .



' es.

on Family Islands

base to make them more customer friendly,
more efficient and more cost effective.” i
~The Cat Island location is the bank’s. 1th a /
branch and Mr McWeeny said the vou had no
intention of stopping. °°’
“We are looking at some countries Garou j

_ and the focus is on spreading our presence |

throughout the islands and we are actively look-'

ing at several islands right now.” °
He said the intention was to employ staff that

come from the islands where they open branch-

In March, the bank opened a branch i in: \ Mia- ie
mi.
Mr McWeeney said the bank eonunuee todo 3
well because of the dedication of its 300-plus. j
employees, all of whom played an ptena Tole”

Be telaselcarel 7

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om

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Quality for a high-paying job as an office as-
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certificate course at Success Training College.

Da ‘evening and weekend courses are avail- |
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~SOPPORTUNITY

The Winterbotham’ Trust Company Limited is looking to fill the position of carporats
Administrator:

In this challenging position you will be responsible for but not limited to the following
tasks:

Incorporation of International Business Companies and Ordinary Companies
Administration of International Business Companies and Ordinary Companies
Liaising with the Registrar General’s Department, Ministry of Foreign Affairs,
Registrar of Insurance Companies, The Central Bank of The Bahamas, The
: Inspector: of Financial and Corporate Service Providers and various consulates
Ensurag' the accuracy of banking and administrative statements of account before
dispat¢h to clients _
onducting comprehensive Annual file reviews
Your Customer (Due Diligence) documentation collection
Opening of bank and administrative accounts

The Sosestha applicant must have the following qualifications:

° Knowledge of the processes associated with the incorporation and ongoing

administration of International Business Companies and Ordinary Companies
Basic knowledge of the Legislation governing International
Business Companies, Gecinaty. Companies and Financial and Corporate Service
Providers. ©
Knowledge of the process associated with legalization of documents.

«o«.Knowledge of requirements for completing the Know Your Customer (Due.

Diligence) process
Computer literate (MS Office products)
Strong organization and communication skills

Ability to analyze client financial needs to provide solutions with products and/or
services offered by the company.
Fluency i in opens or Portuguese an asset but not required

Applications/resume should be sent by e-mail to nassau@winterbotham.com or faxed
to (242) 356-9432
Under reference “Corporate Administrator” :
- ABSOLUTELY NO TELEPHONE INQUIRIES WILL BE ACCEPTED
_ Persons not meeting the above requirement need not apply
Deadline for ae Friday, June 20, 2008





The Bahamas Sportfishing & Conservation Association (BSCA)

The Bahamas Sportfishing & Conservation Association is looking for suitably qualified
_ professionals willing to live and work on a major Family Island to serve as

SOCIAL MARKETING MANAGER

OVERALL RESPONSIBILITY



ire peop to engage in environmental protection at every level of the community



ea HERS

” SPECIFIC Pulee

° Develop a project plan to guide implementation and impact assessment at the target
community site, including short and long-tern conservation goals

* Identify and develop a local charismatic flagship species seein to serve as an icon and
messenget for broader Scr e thence

» Use various social marketing strategies to target key segments of the population
* Greate an emotional attachment between communities and their natural heritage

‘ Carefully measure attitude and behaviour changes using pre and post campaign surveys :
aad control bree

BENEFITS

bh _ University training | in ecology, biodiversity, pornmuunlty-hesed conservation and social.
a By ‘marketing ©”

« Technical support & mentoring
QUALIFICATIONS

Bachelors degree in business, sociology, or environmental sciences

Ability to work with professionals in both public and private sector

Ability to work with a team of professionals from other disciplines

Ability to draft proposals & demonstrate analytical skills

Excellent verbal and written communication skills

Time management skills as weil as manage multiple duties, & meet deadlines
_ Ability to work with children

2 * - ee. 6©f8f06hlU6@

E-Mail | Responses to : taffy@coralwave.com or
Send Res we 105.3. Social Marketing Manager.
eer C/o. Executive Director



- Bahamas Sportfishing & Conservation pera
_ P.O. Box AP-59223, Siot #306
Nassau, Bahamas

Business Office Assistant § Government collects

THE TRIBUNE





more than $13m

in gaming taxes

FROM page 1B

on May 21, 2006, and it paid
its taxes for that month in the
amount of $2,155.90. Basic
gaming taxes for 2005/6
amounted to $28,719.51, and
the reports stated that this casi-
no owed $26,563.61 in out-

standing taxes as of June, 2006.

The Isle of Capri Casino in
Grand Bahama did not pay

any casino taxes between July,
2005, and June, 2006. Its bill
for the period was
$4,047,466.47.

- “We recommend that urgent
steps be taken to collect the
taxes due the government and
that a policy decision be made
to clear the books of amounts
owed by the closed casino if
the outstanding amounts are
deemed uncollectable,” said
the report.



Regarding outstanding casi-
no taxes for prior years, the
Paradise Island Casino owed
$1,187,696.66; the Crystal
Palace Casino owed
$56,521,522.58; and Isle of
Carpri owed $5,691 ,371.16.

With casinos having multi-
ple owners over the years,
these outstanding bills are not
necessarily due to the current
owners of the licences, the
report emphasised.



KINGS REALTY
CONSTRUCTION MANAGER

King’s Realty Limited is in search of a select individual to join our tear.

ll SUMMARY:

oe candidates will be innovative thinkers and have the ability to “think outside the box”
you will also need to demonstrate excellent communication skills, proven leadership abilities and

Hi previous construction management skills isa must Candidate rust brirg strong organizational

skis anc be able to rnanage multiple fast paced profects at tine.

“QUALIFICATIONS:

* Minimnurn of a Bachelor's Degree
« Proficiency in Microsoft software mainly Word, Excel and farril any with Project
Management software,

| RESPONSIBILITIES INCLUDE BUT NOT LIMITED To:

Preparation of bid Anodes buckets, estimates sid costanalysis as well as overseeing of
the purchase of the necessary matertals
Manage projects and ensure successful execution of work and establish cammunication
procedures including the appropriate chain of command for alb communications for

_ projects and set up.an apprepriate tracking systern for necessary approvals
Establish meeting procedures and timetables
Ensure project decumentation [s accurate and coordinated
Provide updated progress reports or: projects ~ aay
Oversee construction activities including coer ination of Contractor 3
Conehect design coordination meetings, pre-construction meetings, site Inspections and
punch list meeting/coordination

* Review all requests for information, charge requests, etc. and issue appropriate response

Inter ested persons should submit applications in writing to P.O, Box N-10414, Nassau, Bahamas —
Re: Construction Manager or via e-mail to bahamas@kt rgsrealty.com

Royal Island (Bahamas) Limited

INVITATION FOR aya :

Royal Island (Bahamas) Limited, the developers of the Royal Island Resort and
Residential Project, just off North Eleuthera wish to fill the following position:

Estimator/Quantity Surveyor

This is a Senior Level Individual should be a generalist and capable of preparing
detailed estimates through all phases of the project. The Successful Candidate |
will:

Report to the Vice President of Resort Development on allt matters relating
to the Project.
Operates as the focal point for all construction estimating.
Provides the construction team with cost guidance during all phases of the
construction.
Tests the estimates for reasonableness based on comparable / ole
historical data.
Evaluates all design documentation aid assist in value engineering reviews.
Responsibility for monitoring specific budget break down for construction
or trade packages based on the overall Project Budget.
Participates / assists in the preparation of individual package scopes of work
together with Consultant and vendor Requests for Proposals (RED or
Invitations to Tender.
Assists in pre-contract tender evaluations and award negotiations.
Assist with daily management of Contracts with specific responsibility for
negotiating Contract Directives (CD).
Provides monthly input to the Estimated Final Cost cae / Budget Status
Report.

Qualifications and Experience:
e Ten (10) Years of related Experience within the Luxury
¢ Resort/Development Industry and a degree in Construction Management or
equivalent.
The successful candidate will be required to work on Royal Island Bahamas.
Interested persons should submit their resumes with cover letter to:
Fax to: (954) 745-4399
Or

Email to: aileen.miller @royalislandbahamas.com

Royal Island (Bahamas) Limited thanks all applicants for their interest,
however only those candidates under consideration will be contacted.
THE TRIBUNE

WEDNESDAY, JUNE 11, 2008, PAGE 3B





Gems Investments’
financial controller
passes the Series 7

REECE CHIPMAN (right),
managing director of the Nas-
tac Group Limited, congratu-
lates Sheldon Cartwright on
passing the Series 7 ‘exam in
Fort Lauderdale this month
with above average results.

Mr Cartwright prepared for
the exam by taking the Series 7
General
NYSE/NASD Registered

Representative Course with

the Nastac Group.
The Series 7 is the profes-
sional qualification designate

for representatives in the secu-

rities business.

The qualification will assist
‘Mr Cartwright in giving finan-
cial consultation, investment

Sécurities ©.

‘advisory services and in oper-

ations. and portfolio manage-
ment.

He is now even more aware
of international investment
products as well as rules and
regulations as they apply, to the

“local and international finan-

cial markets.
Employed

_ Mr Cartwright is employed

- at Gems Investments as group

financial controller. He is
responsible for the. daily and

~ overall financial operations
and reporting. He-has been ©

with the company for about
one year, prior to which he

The Scotiabank __
Rate Booster Deposit

Combines the higher interest rates of a longer term —
investment with the flexibility of a short term deposit.

Your interest rate increases twice during the term

of your investment, so your money is guaranteed to
grow faster! Plus you have access to your money at
two set dates within the term of your deposit, giving

you penalty free access to your money.t



worked as an audit. manager

with the accounting firm of
' Ernst and-Young.

Mr Cartwright said he would
recommend the course to
those in the industry and oth-

ers interested in the financial

services business.
With his new qualifications,
Mr Cartwright is now able to

register with the Securities —

Commission of the Bahamas
as.a licensed broker and finan-
cial adviser.

He may now advise individ-
uals and companies on finan-

cial matters and returns on -

their investments as well as on

returns on the investments of '

their clients.





Visit your nearest Scotiabank branch today.

+ Some conditions apply. Rates subject to change.

* Trademarks of The Bark of Nova Scotia.

Trademarks used under license and control of The Bank of Nova Scotia.

Life. Money. Balance both:

Ryn

*



LAW REVIEW

All candidates for the LLB degree with the University of Huddersfield/Holborn Col-
lege are invited to register for review sessions scheduled for June 30 — July 2.
All sessions will be conducted by a senior professor from the university. Candidates
who are preparing for upcoming exams are especially urged to attend.

Call Success for registration information. 324-7770

Vacancy for
Sr. Area Director, Development & Construction.

A minimum of twenty (20) years experience in the Construction industry with specific documented
“experience in project and/or construction management.

A minimum of ten (10) years experience leading project teams on multiple projects in remote,
international locations with single-point accountability for capital budgets and schedules.
Professional degree in technical field from an accredited university

Strong leadership, management, and communication skills providing the ability to work in a
dynamic, multi-functional matrix management environment, as a “Team Player’. Pro-active, °
assertive, motivated and disciplined.

Experience in leading, managing, and coordinating design, construction, and other professionals.
Experience in qualifying, contract negotiation, recommendation, and administration of
Professional and Contractor Agreements.

Proven ability to understand the business goals. of stakeholders and implement a partnering
relationship that will enable mutual success.

Experience in legislative/ jurisdictional approval processes.

Proven ability to comprehend, and critique design and contract documents.

Lead and coordinate resources to achieve complete technically acceptable design and contract
documents within Design Guides, Construction Operations Manual, project scope, schedule, and

. cost.

Computer literacy on Microsoft Office products, Primavera P3 or Suretrak (or other scheduling)
and, Primavera Expedition (or other Project Management) software applications.

Ability to reside full-time in Abaco for the full duration of the project.

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



s




VACANCYIN OTICE
Assistant]Directorl-0HR #

¢

Allvacancylexistsiat Thel National Insurance! Boardl forllanl Assistant] Directori of] Huma
Resources. ,

ReportingiltolthelDirector, Dthelsuccessfullapplicantiwillbellresponsiblelforlithelmanagementiof f
thelHumaniResourceslandiTrainingifunctionslofithelBoard.0Thislpositionlwilllbelresponsible
for:

él Administrationfoftpersonnelpolicieslandiplansitolensurelfair,Jconsistentlandcompetitive
treatmentioflalllemployeeslinlaccordancellwithlalllapplicablellegislationilandiregulations.

a Implementationfiofiresponsivellemployeeirelationsiprogramsitollcontributestodhighiimoraled
andthighilevelslofilproductivity. »

él Sucbessfulliné gotiationlioftindustriailagtesmentsiwithimanapententandinon: management!
labourflunions.

él Development, Dimplementationlandiladministrationloflleffectivelcompensationlanddbenefitil
peoe reams a ie onta bute cok neon ani zai Gnstiabilityitolatrast ire tanlancimotiyatcicompetent
personnel.

él {sintinin fiat vorablofkvorkingihelag oils phwithne nether bompan yiefiployeesiKoliiromote
allcooperativellandtharmoniouslworkingiclimatelwhichiwilllbelconduciveltolmaximuml
employeellmorale,[productivity,landllefficiency/effectiveness.

€ Workingilcloselylwithllexecutiveslandidepartmentallsupervisorslinideterminingicurrentlland
futurelorganizationallneeds.

a Ensuringithattalldstafiflmembersireceivellappropriateltrainineltolperformitheirljobsleffectively.
él. ProsecutionlandImanagementiofilcasesibeforelMinistrylofftLabourlandIIndustriallTribunal.

él Creationlandlupdatin glofilformallstaffilj obldescriptionswheninecessaryltolincreasellefficiency
po clag ey cue nto tthe opeanizar on sie cal etwathitae at Oca sana wedePPr opiate
resources.

él ‘Develop jladministerlandImonitorlanleffectivelperformancellappraisallisystemithatprovides
meaningfull feedbacki tol staffl thereby enhancingl theirl growthl andl development.

REQUIREDISKILLSIANDISPECIALITECHN IQUES

él BelallstronglteamlplayerlandlbusinessImanagerlwithllalsolidifoundationlandlunderstanding}
offloveralllbusinessloperations,JshowingithelabilityltolinterfaceleffectivelylwithllallilevelsO
andifunctionslwithinlthelorganization.

al Havellexcellenticommunication(skills,bothiorallylandlinlwriting,Jandibellanioutstandingll
listener.

€l Belservicelorientedlandlyetihavelalstrategiclorientation, nab patna na gnerdstiolbelddong
andilladdressingithoselineedslcreatively.

al Stronglmanagementlandileadershiplskills.

QUALIFICATIONSIANDIEXPERIENCE

Thelideallcandidatel willJhavellal Bacheloris DegreelandDatMleastIfivelplus0yearsloff Huma
Resourcesllexperiencelinlallleadershiplorimanagementicapacity.JA0MasterisJDegreelinJHuman
Resourceslislpreferred.JResumesl withlsupporting0documentationlshouldlbelsubmittedlonlor
beforelMonday,lJunel16,02008,0to:

ThelDirector
THEINATIONALIINSURANCEIBOARD
P.O.1BoxIN-7508
Nassau,JBahamas
ee

PAGE 4B, WEDNESDAY, JUNE 11, 2008 THE TRIBUNE















‘I get a better sense of what
is happening in The Bahamas
from. reading the Tribune.
Where other daily
newspapers fall short, the
Tribune delivers. I’m_

| confident knowing The
Tribune looks out for my:

| interests. The ‘Tribune is .
| . “fy newspaper.”

NELSON JOHNSON 7 | i ye?
TAX! DRIVER | 4Ah. AA, th, Plowstad





3
g
3
q




Pn eee Re eee |
Wall Street mixed as oil prices surge higher

@ By TIM PARADIS
AP Business Writer

NEW YORK (AP) — Wall
Street traded mixed Tuesday
as oil prices ratcheted higher
and as speculation grew that
the Federal Reserve might
raise interest rates to fight
inflation.

The International Energy
Agency said oil-producing
nations outside OPEC are hav-
ing a tough time keeping up
with demand. The agency low-
ered its forecast for global oil
demand because of the recent
surge i” prices, but said China
might need more for recon-
struction in the aftermath of
May’s earthquake.

This sent a barrel of light,

sweet crude up $2.71 to
$137.06 on the New York Mer-
cantile Exchange. Crude prices
last week climbed to a record
$139.12.

Meanwhile, comments from
Federal Reserve Chairman

Ben Bernanke that a substan- _

tial economic downturn seems
unlikely have raised expecta-
tions that the central bank
might raise interest rates to
fight inflation.

In midmorning trading, the
Dow Jones industrial average
rose 14.90, or 0.12 per cent, to
12,295.22.

Broader stock indicators
declined. The Standard &
Poor’s 500 index fell 0.77, or
0.06 per cent, to 1,360.99, and
the Nasdaq composite index



of The Bahamas

M D

NOTICE

Notice is hereby given in accordance with
Section 64 of the Securities Industry Act,
1999 that Mr. Peter Thompson resigned as
a Director from the board of Bank of The
‘Bahamas Limited on May 20, 2008.

fee A Diller

Secretary

IS Bank



Legal Notice

NOTICE

BOUVERIE INVESTMENTS INC.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of BOUVERIE INVESTMENTS INC.
has been completed; a Certificate of Dissolution has been
issued and the Company has therefore been struck off the
Register.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
TOP STAR INC.

~ (In Voluntary Liquidation)

Notice is hereby given that the above named

Company is in dissolution, which commenced -

on the 2nd day of June 2008. The. Liquidator
is Argosa Corp. Inc., ‘P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

SEALY HOLDINGS LIMITED

In Voluntary liquidation

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

The date of commencement of dissolution is the 21st day of
May, 2008.

Simon J Harman

Equity Trust House
28-30 Parade,
St. Helier, Jersey.
JE1 1EQ
Liquidator








fell 8.53, or 0.35 per cent, to
2,450.93.

Bond prices fell. The yield
on the benchmark 10-year

- Treasury note, which moves

opposite its price, rose to 4.06
per'cent from 3.99 per cent late
Monday.

The dollar was mixed against
other major currencies, while
gold fell.

The rise in energy remains
a concern for Bernanke, who
on Monday reiterated during a
speech that higher energy
prices “suggest that growth
risks remain to the downside.”
His assertion that the chance of
a substantial downturn has
decreased is raising Wall
Street’s expectations that the
central bank might soon be
comfortable in raising interest
rates.

The central bank is worried
that escalating commodities
prices might curb consumers’
appetite to buy discretionary

For the stories
behind the news,

read Insight
on Mondays



items. This would pose a seri-
ous threat to the US economy,
as consumer spending accounts
for more than two-thirds of
economic activity.

In other economic news, the
Commerce Department
reported that the US trade
deficit had a larger-than-
expected jump in April. High-
er oil prices and an increase in
consumption for crude offset
a climb in exports, the govern-
ment said.

The deficit in international
trade of goods and services
increased by 7.8 per cent to
$60.90 billion from March’s
revised $56.49 billion. The
trade gap was forecast to rise
to $59.5 billion, according to
economists surveyed by Thom-
son/IFR.

In corporate news, Texas
Instruments Inc. fell 62 cents,
or two per cent, to $30.71 after
narrowing its second-quarter
revenue and earnings expecta-
tions late Monday.

Billionaire Kirk Kerkorian’s
investment company said its
tender offer for 20 million
additional shares of Ford
Motor Co. attracted a huge
response and will easily enable
it to increase its stake in the
automaker to about 5.5 per
cent. The Dearborn, Mich.-

Established —
company seeks

Talented and innovative marketing and
graphic arts candidate for entry level

position.

Good hours, good benefits.

This individual should possess:

¢ Good work ethics,

¢ A positive upbeat attitude,
¢ Team player with leadership skills and

willingness to learn.

If this sounds like you

Please forward resume inclusive of contacts -
to the following email for review
marketingtalentwanted@yahoo.com

All submissions must be received by June
12th, 2008 for consideration.

Viable candidates will be contacted to
schedule interviews being conducted on
the 13th and 16th of June.

Job Opportunity

Software Trainer

Are you an energetic Motivator,

an Excellent communicator with a passion
to work with a professional Team? ©

If we've piqued your interest, Let's Talk!

Skills required:

¢ A Bachelor’s Degree in Finance

‘ ¢ Minimum of five (5) years experience in
finance company management

Minimum of five (5) years experience in the
consumer purchase lending industry

Minimum of three (3) years experience in
the use and training of EnCompass and the
ability to train a team of at least 10 people.

Proficient in IBM DB2 file query utilities
Working knowledge of Microsoft Office

Nageaure ° Gind Bahaina © World Wide Web

Please submit your application by Mail to:
Director of Human Resources, The Plus Group
P.O. Box N713, Nassau, Bahamas

or eMail: jobs@theplusgrp.com

We thank all applicants, however only those
selected for an interview will be contacted.



based automaker said last
month it no longer expected
to return to profitability by
2009. Ford fell 23 cents, or 3.6
per cent, to $6.13.

XTO Energy Inc. said it is
acquiring privately held Hunt
Petroleum Corp. for $4.19 bil-
lion in cash and stock. XTO
said Hunt’s assets, plus last
month’s acquisition of Head-
ington Oil Co., prompted it to
increase its 2008 production
growth target to 28 to 30 per
cent. XTO rose $2.42, or 3.6
per cent, to $70.14.

Declining issues outnum-
bered advancers by about

three to one on the New York
Stock Exchange, where vol-
ume came to 244 million
shares.

The Russell 2000 index of
smaller companies fell 0.73, or
0.10 per cent, to 734.52.

Bernanke’s comments
caused selling overnight in
Asia, where the Nikkei 225
average closed 1.1 per cent
lower.

In afternoon trading,
Britain’s FTSE 100 index lost
0.12 per cent, Germany’s DAX
index gave up 0.33 per cent,
and France’s CAC-40 declined
0.22 per cent.

VICE PRINCIPAL
NEEDED

The Anglican Central Education Authority invites
applications from qualified Bahamians for the position of
VICE PRINCIPAL of Bishop Michael Eldon School
beginning September 2008.

The applicant must.have a Degree in Education from a
recognized University, with at least 5 years accumulative
experience. The. applicant must also be computer literate.

Key job functions and responsibilities include:

- Assisting with staff supervision and evaluation

_ - Admissions and student orientation
- Scheduling (Timetables; examinations, invigilations)
- Assisting with discipline
- Assisting with supervision of academic programmes
- Assisting with Curriculum Development.
- Administration of School and External examinations
- Inventory
- Requisitions

Applicants should submit a cover letter, Curriculum Vitae,
copies.of degree certificates, three references and passport °
photographs to:

_. THE DIRECTOR OF EDUCATION
ANGLICAN CENTRAL EDUCATION AUTHORITY
P.O. BOX N-656
NASSAU, BAHAMAS

The Deadline for Applications is .
Friday, June 27th, 2008



COMMONWEALTH OF THE BAHAMAS ; 2008
IN THE SUPREME COURT
Commercial Division

COM/com/00011

IN THE MATTER OF THE NATIONAL INSURANCE
BOARD

AND

IN THE MATTER OF SECTION 187 OF THE
COMPANIES ACT CHAPTER 308

AND

IN THE MATTER OF THE ACTION OF THE NATIONAL
INSURANCE BOARD

NOTICE is hereby ene: that a Petition for the winding
up of the above named Company by the Supreme Court
of The Bahamas was, on 12th Day of March, 2008
presented to the said Court by Anthony M. Wright of
45 Brighton Drive, of The City of Freeport in the Island
of Grand Bahama.

‘AND that the said Petition is directed to be heard before
Mrs. Donna Newton, a Registrar of the Supreme Court,
sitting at Nassau on the 2nd day of July, 2008 at 12:00
o'clock in the afternoon, and any creditor or contributory
of the said Company desirous to support or oppose the
making of an Order on the said Petition may appear at
the time of the Hearing in person or by his Counsel for
that purpose; and a copy of the Petition will be furnished
by The undersigned to any creditor or contributory of
the said Company requiring such copy on Payment of
the regulated charge for same.

Dated this 4th day of June, 2008

Anthony M. Wright
No. 17 Baldwin Avenue (Off Farrington Road)
P.O. Box N-197
Telephone: (242) 323-6759
Nassau, Bahamas |

Note: Any person who intends to appear on the hearing
of the said Petition, either to oppose or support, must
send notice of his intention to the Petitioner, within the
time and manner prescribed by rule 25. The notice must
state the name and address of the person, or, if a firm,
the name and address of the firm, must be signed by
the person or firm, or his or their attorney (if any) and
must be served, or if posted, must be sent by post in
sufficient time to reach the Petitioner not later than 4:00
o'clock in the afternoon of the Ist day of July A.D.,
2008.
PAGE 6B, WEDNESDAY, JUNE 11, 2008

THE TRIBUNE





Small businesses fight to

@ By RAMIT
PLUSHNICK-MASTI
Associated Press Writer

PITTSBURGH (AP) —
Small business is risky business
these days.

Costs are rising, profits are
shrinking and the ability of the
big guys to keep prices rela-
tively lower is drawing away
customers.

Things are so bad that many
small enterprises, which

. account for about 99 per cent
of the country’s businesses, say
they are hanging by a thread
that may soon snap.

“We are basically losing
money every month, about
$1,000 a month. It’s been about

two, three months now,” said

Tom Weisbecker.
Weisbecker owns Isaly’s in

western Pennsylvania where

patrons sit on green barstools

at a Formica countertop and
gobble the legendary Slammer,
a sandwich stuffed with a half-
pound of chipped ham and
smothered in onions and
cheese. Prices for many of
those ingredients have sky-
rocketed in the past year.

“We know our customers
are already feeling the pinch
with the gas prices and when
they go to the grocery store.
We're trying to hold out, but
we can’t go on much longer,”
said Weisbecker.

In barely a year, the cost of
pork has jumped by 50 cents
a pound, while beef is up 20
per cent; a five-gallon jug of
canola oil that used to cost $15
is at $40; a 50-pound bag of
flour jumped from $7 to
between $20 and $25.

And then there are fuel sur-
charges of between $5 and $9
that have been added to near-

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, CORIE MEZADIEU of
JFK Dolphin Drive, P.O. Box N-3237, Nassau, Bahamas,
intend to change my name to MALIK KWEBEN. If there are
any objections to this change of name by Deed Poll, you
may write such objections to the Chief Passport Officer,
P.O.Box N-742, Nassau, Bahamas no later than
thirty (30) es after the date of publication of this
notice.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that |, ELNECKER SANDRENA
FORBES also known as ELMSEKER SANDRENA FORBES of
Stapledon Gardensin the Western District of New Providence,
7 intend to change my name to ELNICKA SANDRENA FORBES. If
there are any objections to this change of name by Deed Poll,

you may write such objections to the Chief Passport Officer,

P.O.Box N-742, Nassau, Bahamas no later than thirty (30)
days after the date of publication of this notice. ~

NOTICE
INTERNATIONAL BUSINESS COMPANIES ACT ~,
(No, 46 of 2000). ee

! R.R. INVESTMENT HOLDING COMPANYLTD..
(In Voluntary Liquidation)

NOTICE is hereby given that in accordance with Section 138 of the Interna-
tional Business Companies Act No. 46 of 2000, R.R: INVESTMENTS HOLD-
ING COMPANY LTD. is in Dissolution.

Any person having a Claim against the R.R. INVESTMENTS HOLDING
COMPANY LTD. is required on or before the 24th day of June 2008 to send
their name, address and particulars of the debt or claim to the liquidator. of the
Company, or in default thereof they may be excluded from the benefit of any
distribution made before such claim is approved.

We, Redcorn Consultants Limited, of 2nd Floor, Ansbacher House, Shirley
and East Streets North, is the Liquidator of R.R. INVESTMENTS HOLDING
COMPANY LTD.

“TRED

ly all deliveries during the past
six months.

In the meantime, wages —

haven’t grown and the job
market is tepid, at best. On Fri-
day, the Labour Department
said the nation’s unemploy-
ment rate jumped to 5.5 per
cent in May — the biggest
monthly rise since 1986 — as
wary employers‘cut 49,000
jobs. Average hourly earnings
for jobholders rose to $17.94
in May, up 0.3 per cent from
the previous month.

The feeble employment
market may be making con-
sumers less willing to spend.

‘Also, paychecks aren’t going

as far as they did before food
and fuel costs rose.

“In a good economy, you
can makes mistakes. But in a
bad economy ... you can’t
afford to make a mistake,” said
Larry Lagattuta.

“I am three very bad deci:
sions away from bankruptcy at
any given time,” said Lagat-
tuta, who has been running
Enrico Biscotti Co. on the
Pittsburgh Strip for 15 years.

Over Christmas, he made
hundreds of shipments; 2007
was his best year ever. |

The last quarter was his
worst. ;

A National Small Business
Association survey of 500 small
business owners in February

te er Stop at eBay National Small Business ahr



Charles Dharapak/AP

REPUBLICAN presidential candidate Senator John McCain, R-Ariz., gives a thumbs up during a campaign
stop at the National Federation of Independent Business (NFIB) and eBay 2008 National Small Business

Summit in Washington yesterday...

dropped and job growth was
at the lowest point in 15 years,

found that sales and profits had

ONT CTT

Bahamian Manager for Super Store,
5 or more years experience.

Send anni to Fax:

_ 328-8798

NOTICE

NOTICE is ey POE that RONY ST. FLEUR of
EAST STREET, BOX EE-15467, NASSAU,
. BAHAMAS, is. appl qi to.:the Minister. ‘responsible
for Nationality an itizenship, for .registration/
: naturalization as.a citizen of The Bahamas, and that
any person.who.knows ¢ aN: reason why. registration/
uralization should not be granted, should send

: written and signed statement of the facts within
twenty- eight days from the 4TH day of JUNE 2008
to the Minister responsible for Nationality and
Citizenship, P.O.Box

NOTICE

NOTICE is hereby given that WILLY FRANCOIS of
KEMP ROAD, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas,
and that any person who knows any reason why
registration/ naturalization should not be granted, should
send a written and signed statement of the facts within
twenty-eight days from the 11TH day of JUNE 2008 to

- 7147, Nassau, Bahamas.

problems that could have a sig-
nificant impact on an already
shaky US economy.

The survey also found that
71 per cent of business own-
ers have a “negative outlook”
on the economy compared to
43 per cent a year ago; confi-
dence in their business’ suc-
cess dropped from a high of 81
per cent-a year ago to 70 per

cent now.

A separate survey aan: by
the National Federation of
Independent Business found
that for the first time in 25
years, small business owners
cited inflation as their single

‘biggest concern, rising from

COMMONWEALTH OF THE BAHAMAS

IN THE SUPREME COURT

Equity Side

four per cent a year ago to 14
per cent in April.

The survey of more than
1,765 businesses showed that
for the first time in a decade,
skyrocketing insurance costs
were not the No. 1 concern.

As gas and food prices
climb, consumers are bypassing
small businesses and seeking
out bargains in places like
Costco Wholesale Corp., which
reported a 32 per cent jump in
its fiscal third-quarter profit,
surpassing Wall Street expec- —
tations.

SEE next page

2008
No.00198

sIN THE MATTER OF :all'those:piece

parcels or lots of

land totaling one

hundred and seventeen and thirty

hundredths (117.30) acres and situate
north of Buckley’s Estate in the vicinity
of Toby Bay inthe ‘Southern section of
the settlement of Deadman’s Cay in the
Island of Long Island, The Bahamas.

AND .
IN THE MATTER OF the Petition of
Emma V. Wells, Rosena E. Pyfrom,
Tennyson R.G. Wells, Iris L. Pinder,
Charles M. Wells and Richard E. Wells.
AND

IN THE MATTER OF the Quieting Titles Act 1959

NOTICE

The Petitioners in this matter claim to be the owner in: fee simple
possession of the tract of land hereinbefore described and the Petitioner
has made an application to the Supreme Court of the Commonwealth
of the Bahamas under Section 3 of the Quieting Titles Act 1959 to have
his title to the said land investigated and the nature and extent thereof

_ determined and declared in the Certificate of Title granted by the Court in
accordance with the provisions of the said Act.

the Minister responsible for Nationality and eiizenship,

Liquidator P.O.Box N- 7147, Nassau, Bahamas.

NOTICE

Copies of the Plan may be inspected during normal office hours at:

EXXONMOBIL ABU DHABI
(ONSHORE GAS) LIMITED

Pursuant to the provisions of Section 137 (8)
of the International Business Companies Act
2000, notice is hereby given that the above-
named Company has been dissolved and
struck off the Register pursuant to a Certificate

(1) The Registry of the Supreme Court.
(2) The Administrators Office at Clarence Town, Long Island.
(3) The Chambers of the undersigned.

Colina aeae

COLINA HOLDINGS BAHAMAS LIMITED NOTICE IS HEREBY GIVEN that any person having dower or right

to dower or an adverse claim or a claim not recognized in the Petition
shall before the 30th day of June, A.D.,2008 from the publication of the
notice inclusive of the day of such publication file Notice in the Supreme
Court in the City of Nassau in the Island of New Providence aforesaid
and serve on the Petitioner or the undersigned a statement of his or her
claim in the prescribed form verified by an Affidavit to be filed therewith.
The failure of any such person to file and'serve a statement of his or her
claim within the time fixed by the Notice aforesaid shall operate as a bar

NOTICE OF ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN that the statutory meeting of
the above Company required to be held by Section 70(2)

of Dissolution issued by The Registrar General
on the 25th day of April, A.D., 2008.

Dated the 9th day of June, A.D., 2008.

MaryBeth Taboada
Liquidator of
EXXONMOBIL ABU DHABI
(ONSHORE GAS) LIMITED



CHEVROLET

of the Companies Act, 1992 will be held at the J.W. Pinder
Building, Colinalmperial. Insurance Ltd., Collins Avenue,
Nassau, Bahamas on Wednesday, the 11" day of June
2008 at 5:30p.m.

Dated Monday, the 9" day of June 2008

Michelle C. E..Fields
Secretary



em aCe ee umetile stele siec

to such claim.

Dated this 14th day of April, A.D., 2008

PYFROM & CO,
Chambers
No.58, Shirley Street,
Nassau, N.P., Bahamas.

Attorneys for the Petitioners.


THE TRIBUNE



WEDNESDAY, JUNE 11, 2008, PAGE 7B

(MNRAS Nn aa a de
survive in tough economy

“The bad thing that’s hap-
pening to us, is the economy
is driving people to shop at the
big-box stores. They can buy
their staples and pick other
things up so they don’t have
to use gasoline,” said Cindy
Baker, who has been a gift
shop owner for 20 years, half at
her current location, Collage,
in Pittsburgh’s bustling Strip
District.

“This is the first time, even
taking 9/11 into consideration,
I can say I’ve really seen a
pinch in my business,” she said.

Just like airlines and car
companies, some small busi-
ness owners are shrinking and
letting people go to survive the
squeeze.

Last month, the Oklahoma
City gas station owned for 22
years by brothers Harley and
Hadley Hintergardt shut its
doors for good because of ris-
ing gas prices. Harley Hinter-
gardt said the station suffered
because unlike big chain gas
stations, they didn’t have a
convenience store or full-ser-
vice auto shop to fall back on.

“We were the victim of high
gas prices,” Hintergardt said.
“Everybody thinks that we
were making the money selling
at the pump at the gas station.
And trust me, we were not.”

Small businesses, measured
by the US Small Business
Administration as those with
fewer than 500 workers,
employ some 58.6 million peo-
ple, more than half of the total

US labour force. In the past
decade, they have generated
between 60 per cent to 80 per
cent of new jobs, and in 2004
all the new jobs.

While no data is available
on how many small businesses
have gone under in the past six
months, federal officials are
reporting a decline in the num-
ber of loans they guarantee, a
consequence of both lower
demand and tighter standards.

Experts say the shrinking
demand indicates businesses
are reluctant to take on debt
and expand. Many would-be
entrepreneurs are hesitant to
open new businesses.

Eric Bradlow, a marketing
professor at the University of
Pennsylvania’s Wharton

School of Business, said that.

in the best of times, 90 per cent
of businesses shut down in the
first year. The Small Business
Administration notes that one-
third close within two years
and only 44 per cent survive
four.

“Anecdotally, you hear that
this is a very difficult period
because of higher gas prices
and higher component
prices...definitely in the past 10
to. 15 years,” says Bradlow,
who is also a director in Whar-

ton’s Small Business Develop- .

ment Center.

It’s an environment that also
makes it difficult for small busi-
nesses to raise prices to cover
their costs.

The Pittsburgh Popcorn

Eagle
TEAM ATE Ree rTP
just call 322-1986 today!

Legal Notice

NOTICE

BOSANSKA INC.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act 2000,
the dissolution of BOSANSKA INC. has been completed;
a Certificate of Dissolution has been issued and the Com-

pany has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator)









East Bay St.

NOTICE

Pursuant to the provisions of Section 137 (4) (a), (b)
and (c) of the International Business Companies Act,
2000, notice is hereby given that:-

C.B. Strate
LIQUIDATOR



(a) Twinkle Limited is in dissolution;

(b) The date of commencement of the dissolution
is the 26th day of May, A.D., 2008 and

(c) the Liquidator is C.B. Strategy Ltd., of 308

Company is feeling that pain.
It opened on March 1, since
then, the price of packaging
tins has tripled. Other food
costs have risen between five
per cent and 30 per cent, the
hardest hit being canola oil and
chocolate.

The company’s owners,
Janelle and Rob Day, are
reluctant to raise prices,
though. The enterprise is new
and they are afraid of driving

having a less hard time right
now than food or apparel
stores.

“Business has actually been
steady for us. We haven’t seen
a large drop-off,” said Bradley
Bodart, who owns Daly’s Pen
Shop in Milwaukee. “Our cus-
tomers tend to be more well-
to-do, people who don’t shy
away from a $600 pen, so
they're : not too affected by gas
prices.’



Ltd.






Bodart understands that
people are surprised by his suc-
cess.

“T see people walk by the
store and they whisper, ‘How
does that place stay in busi-
ness?’” he said. “It’s because
it’s a niche business. There
aren’t too many people about
to start up a pen shop.”

e AP Business Writer Dinesh
Ramde in Milwaukee con-
tributed to this report.

away patrons.

“JT. want to attract customers,
that’s my primary goal,” Rob
Day said.

Only when it is certain peo-
ple will keep buying, will Day
raise prices. “Whether that’s.a
month, or two months or three
months, I don’t know,” he says.

Not all small businesses are
feeling the pinch, however.
Thvse that cater to the wealthy
or have niche products may be

NOTICE

~ NOTICE is hereby given that SHALLAYWA VARITA HINDS
OF #24 CHICHESTER CRESCENT, P.O. BOX F-41483,
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
4th day of JUNE, 2008 to the Minister responsible for Nationality
‘and. Citizenship, P.O.Box N-7147, Freeport, Bahamas.

PUBLIC NOTICE

INTENT TO. CHANGE NAME BY DEED POLL

The Public is hereby advised that |, DOROTHY P, LEYLEGIAN
of the Western District of the Island of New Providence of
the Islands of the Commonwealth of The Bahamas, intend
to change my name to DOROTHY P. BAKER. If there are any
objections to this change of name by Deed Poll, you may write
such objections to the Chief Passport Officer, RO.Box N-742,
Nassau, Bahamas no later than thirty (80) days after the
date of publication of this notice.



NOTICE

. NOTICE is hereby given that CLEMENT LAFRANCE of
FAITH AVENUE NORTH, CARMICHAEL RD., NASSAU,
_3AHAMAS, is applying to the Minister responsible for
Nationality arid 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
4TH day.of JUNE 2008 to the Minister responsible for
Nationality and Citizenship, PO.Box N- 7147, Nassau,
Bahamas.

Abaco Markets

Bahamas Property Fund
Bank of Bahamas
Benchmark

Bahamas Waste

Fidelity Bank

Cable Bahamas

Colina Holdings .
Commonwealth Bank (S1)
Consolidated Water BDRs
Doctor’s Hospital
Famguard

Finco

FirstCaribbean

Focol (S)

Focol Class B Preference
Freeport Concrete o
ICD Utilities ‘
J. S. Johnson

Bahamas Supermarkets .
Caribbean Crossings (Pref)
RND Holdings

52wk-Low
1.2485
2.7399
1.3410
3.2920
11.6049
100.0000
98.2100

Fund Name
Colina Bond Fund
Colina MSI Preferred Fund
Colina Money Market Fund
Fidelity Bahamas G & | Fund
Fidelity Prime Income Fund
CFAL Global Bond Fund
CFAL Global Equity Fund
CFAL High Grade Bond Fund
Fidelity International Investment Fund

1.315228***
2.998763***
1.392290***
3.6960*****
12.1564****
100.00**
99.956603*
1.00**

9.88

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

52wk-Hi - Highest closing price in last 52 weeks

52wk-Low - Lowest closing price in last 52 weeks

Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for dally volume
Change - Change in closing price from day to day

Daily Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months

P/E - Closing price divided by the last 12 month earnings

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



YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity

Ask $ - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol.
EPS $ - 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

Tel 328-3908

Shirley Street
www.nassaumotor.com

NOTICE

NOTICE is hereby given that GALEN WILLIAM
JOHNSTON of 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 11TH day of JUNE 2008 to
the Minister responsible for Nationality and Citizenship,
P.O.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that PAULA HUDSON OF #24
CHICHESTER CRESCENT, P.O. BOX F-41483, 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 4th
day of JUNE, 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.

NOTICE

NOTICE is hereby given that YYVENEL BROWN of
HAMTER ROAD OFF FAITH AVENUE; 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
11TH day of JUNE 2008 to the Minister responsible for
Nationality and Citizenship, P.O.Box N- 7147, Nassau,
Bahamas.



Employment Opportunity

A Corporate and Financial Services Firm based in Nassau
is seeking to recruit a highly competent: professional for the
following position: /

MANAGER

: The position is best suited for results oriented, hard working individuals
able to work in a team environment.

Requirements —

Masters Degree in International Relations

At least two (2) years of work experience in Europe

At least three (3) years experience in the Corporate Services fi aa
Strong organizational and analytical skills)

Excellent command of computer knowledge: (MS Applications)

Interested candidates should send their CV by email to:
NBissiney@ajkbah.com Deadline: 12th June, 2008



FG CAPT

TAL MARKETS
BROKERAGE & ADVISORY SERVICES

Weekly Vol. EPS $ Div $

fo
1.58%

-0.07%
1.25%

-2.66%
1.87%

-0.04%

- 31 March 2008

* - 31 December 2007
'* - 30 May 2008

** - 31 April 2008

- Trading volume of the prior week ~ 30 April 2008



Buy a brand new Chevy from NMC
now through June 30 and get

$500 of FREE GAS!

Plus Model-Year Close-out Prices
Test drive one today. All new cars paged ey a ey 000
mile factory warranty.


PAGE 8B, WEDNESDAY, JUNE 11, 2UU5

@® Chartered Accountants © Phone: (242) 502-6000
ei) ERNST & YOUNG One Montague Place Fax: (242) 502-6090
Third Floor www.ey.com
East Bay Street
P.O. Box N-3231

Nassau, Bahamas

Independent Auditors’ Report to the Board of Directors and Shareholder of
SG Hambros Bank & Trust (Bahamas) Limited

We have audited the accompanying consolidated balance sheet of SG Hambros Bank & Trust
(Bahamas) Limited as at December 31, 2007, and a summary of significant accounting policies and
other explanatory notes.

Management's Responsibility for the Balance Sheet ei :
Management is responsible for the preparation and fair presentation of the balance sheet in
accordance with Intemational Financial Reporting Standards. This responsibility includes:
designing, implementing and maintaining internal control relevant to the preparation and fair
presentation of balance sheet that is free from material misstatement, whether due to fraud or error;
selecting and applying appropriate accounting policies; and making accounting estimates that are
reasonable in the circumstances.

Auditors’ Responsibility
Our responsibility is to express an opinion on the balance sheet based on our audit. We conducted

our audit in accordance with International Standards on Auditing. Those standards require that we
comply with ethical requirements and plan and perform the audit to obtain reasonable assurance
whether the balance sheet is free from material misstatement.

An audit involves performing procedures to obtain evidence about the amounts and disclosures in
the balance sheet. The procedures selected depend on the auditors’ judgment, including the
assessment of the risks of material misstatement of the balance sheet, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entity's
preparation and fair presentation of the balance sheet in order to design audit procedures that are
appropriate 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 balance sheet.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinion.

In our opinion, the consolidated balance sheet presents fairly, in all material respects, the financial
position of SG Hambros Bank & Trust (Bahamas) Limited as of December 31, 2007 in accordance

with International Financial Reporting Standards.

May 28, 2008
ee A member firm of Ernst & Young Global Limited
SG Hambros Bank & Trust (Bahamas) Limited
Consolidated Balance Sheet
December 31, 2007
2007 2006
$°000 $°000
Assets ;
Cash and balance with Central Bank . 415 _ 452
Loans and advances to banks , 368,089 ‘ 500,255
Loans and advances to customers (note 3) 43,682 : 47,188
Financial investments available-for-sale (note 4) 364,907 424,385
Financial investments held-to-maturity (note 4) 5,884 7,757
Accounts receivable 2,844 2,113
Property and equipment, net (note 5) 12,395 * 13,727
Other assets (note 6) 4,382 6,248
Pension plan asset (note 7) -3,476 3,366
Total assets 806,074 1,005,491
Liabilities and shareholder’s equity
Liabilities :
Loans and advances from banks 5,354 8,865
Customer deposits . 764,689 957,249
Other: liabilities (note 8) 9,011 *iiisdsit roeng 7687
Pension plan liability (7) 610 242
Post-employment healthcare plan liability (note 7) paiisen! 2,031 Se iecesieal 1,220
Total liabilities .
Shareholder’s equity
Share capital: :

Authorised — 75,000 shares of B$57.15 each ;

Issued and fully paid — 35,001 shares 2,000 2,000
Contributed surplus 8,265 8,266
Retained earnings 18,126 17,656
Available-for-sale reserve (4,012) 525
Total shareholder’s equity — - 24,379 28,447
Total liabilities and shareholder’s equity 806,074 1,005,491

Commitments and contingencies (note 9)




” Approved By The Bo
Director

ys Director

1. Corporate Information



SG Hambros Bank & Trust (Bahamas) Limited (the Bank) is incorporated under the laws of the

“Commonwealth of The Bahamas and its principal activities include banking, investment advisory
services, trust and company administration and fund management.. The Bank is a wholly-owned
subsidiary of SG Hambros Bank and Trust (United Kingdom), whose ultimate parent company is
Société Générale SA which is incorporated in France. The consolidated financial statements of the
group are available from the Company Secretary, Societe Generale, 29 Boulevard Haussmann,
75009 Paris, France,

The registered office of the Bank is located at West Bay Street, Nassau, Bahamas.

The consolidated balance sheet has been approved for issue by the Directors of the Bank on May
28, 2008.

ult

2. Summary of Significant Accounting Policies

Statement of compliance
The consolidated balance sheet has been prepared in accordance with International Financial
Reporting Standards (IFRS).

Basis of preparation .

‘The consolidated balance sheet has been prepared on an historical cost basis except for available-
for-sale financial investments, financial assets and financial liabilities held at fair value through
profit or loss that have been measured at fair value.

The consolidated balance sheet is presented in United States dollars. The preparation of the balance
sheet requires management to make estimates and assumptions that affect the reported amounts and
disclosures in the balance sheet. Actual results could differ from those estimates.

Comparative figures are reclassified, where necessary, to conform to changes in presentation in the
current period so that the reclassifications will result in a more appropriate presentation of events
and transactions. ;

Basis of consolidation
The accompanying consolidated balance sheet includes the balance sheet of the Bank and those of

its wholly-owned subsidiaries, Adansonia Investments Limited, Bannervale Investments Limited, .

Dragonian Investments Limited, Goshen Investments Limited, Maridi Investment Company
Limited and SG Hambros Corporate Services (Bahamas) Limited, all of which are nominee non-
trading companies and are incorporated under the laws of the Commonwealth of The Bahamas. All
significant intercompany accounts have been eliminated on consolidation. The balance sheet of the
subsidiaries are prepared for the same accounting period using consistent accounting policies.

Adoption of IFRSs during the year

The Bank has adopted the following new and amended IFRSs and IFRIC interpretations during the
year. Adoption of these revised standards and interpretations did not have any effect on the
financial performance or position of the Bank. They did however give rise to additional
disclosures, including in some cases, revisions to accounting policies.

e

Ime I(Mtlwe.

IFRS 7 Financial Instruments: Disclosures
IAS1 Amendment — Presentation of Financial Statements

The principal effect of the changes to the disclosures in the consolidated balance sheet is as follows:

IFRS 7 Financial Instruments: Disclosures

This standard required disclosures that enable users of the financial statements to evaluate the
significance of the Bank’s financial instruments and the nature and extent of risks arising from
those financial instruments. The new disclosures are included throughout the consolidated balance
sheet. While there has been no effect on the financial position or results, comparative information
has been revised where needed.

IAS 1 Amendment — Presentation of Financial Statements :
This amendment requires the Bank to make new disclosures to enable ttsers of the consolidated
balance sheet to evaluate the Bank’s objectives, policies and processes for managing capital.

Financial assets t

Financial assets in the scope of LAS 39 are classified as financial assets at fair value through profit
az loss; loans and receivables; held to maturity investments; or as available-for-sale financial
investments, as appropriate. The Bank determines the classification of its financial assets at initial
recognition and re-evaluates this designation at each financial year end. All financial assets are
measured initially at their fair value.

All regular way purchases and sales of financial assets are recognised on the trade‘date, being the
date that the Bank commits to purchase or sell the asset. Regular way transactions require delivery
of assets within the timeframe generally established by regulation or convention in the market
place. The subsequent measurement of financial assets depends on their classification.

At December 31, 2007 the Bank’s primary financial assets are represented as follows:

(i) Investments available-for-sale
Available-for-sale financial investments are financial assets which the Bank has designated as
such and represents floating rate notes, where the interest rate is tied to the one-month or three-
month LIBOR plus a fixed spread. These investments are recorded on a trade date basis.

After initial measurement, available-for-sale financial investments are subsequently measured at
fair value. Unrealized gains and losses are recognized directly in equity in the ‘available-for-
sale reserve’. When the security is disposed of, the cumulative gain or loss previously
recognized in equity is recognized in the consolidated statement of income and re:aiaed
earings . Where the Bank holds more than one investment in the same security they are
deemed to be disposed of on a first-in first-out basis.

(ii) Investments held-to-maturity :

Held-to-maturity financial instruments are those which carry fixed or determinable payments
and have fixed maturities and which the Bank has the intention and ability to hold to maturity.
Investments held-to-maturity are financial.assets which the Bank intends to hold to maturity and
represent U.S. Government Securities. These securities are stated at amortized cost (which
approximates market value), using the effective interest rate method, less allowance for
impairment. Amortized cost is calculated by taking into account any discount or premium on
acquisition, over the period to maturity. Investments are recorded on a trade date basis.

(iii) Loans and advances. . ;
Loans and advances are financial assets with fixed or determinable payments and fixed
maturities that are not quoted in the active market. They are not entered into with the intention
of immediate or short-term resale and are not classified as “held for trading”, “available for
sale” or “financial assets designated at fair value through profit or loss”. Loans and mortgages
are stated at the principal amount outstanding adjusted for charge-offs and provision for loan
losses. Management’s periodic evaluation of the adequacy of the provision is based on the
Bank’s past loan loss experience, known and inherent risks in the portfolio, adverse situations
that may affect the borrower’s ability to repay, the estimated value of any underlying collateral,
and current economic conditions. No loans were considered impaired at December 31, 2007
(2006 — nil).

(iv) Derivatives : :
Derivatives include forward foreign exchange contracts and are recorded at fair value.
Derivatives are carried as assets when their fair value is positive and as liabilities when their
fair value is negative. Derivatives embedded in other financial instruments, such as structured
products are treated as separate derivatives and recorded at fair value if their economic
characteristics and risks are not closely related to those of the host contract and the host
contract is not itself held for trading or designated at fair value through profit or loss. The
embedded derivatives separated from the host are carried at fair value in the trading portfolio.

Accounts receivable

Accounts receivable are stated at original invoice amount less any provision for doubtful debts. An
estimate for doubtful accounts is made on a specific identification basis, when collection of the full
amount is considered no longer probable. There was no provision for doubtful debts necessary as
of December 31, 2007 (2006 — nil). Bad debts are written-off as incurred.

Derecognition of financial assets and financial liabilities
(i) Financial assets
A. financial asset (or, where applicable a part of a financial asset or part of a group of similar
financial assets) is derecognised where: ° vansstveenieyp? S whasearyh
e the rights to receive cash flows from the asset have expired; or
e the Bank has transferred its rights to receive cash’ flows from the assét or has assumed an
‘obligation to pay the received cash flows in full without material delay to a third party
under a ‘pass-through’ arrangement; and
either (a) the Bank has transferred substantially all the risks and rewards of the asset, or

(b) the Bank has neither transferred nor retained substantially all the risks and rewards of
the asset, but has transferred control of the asset. “I

a

When the Bank has transferred its rights to receive cash flows from an asset or has entered into a
pass-through arrangement, and has neither transferred nor. retained substantially all the risks and
rewards of the asset nor transferred control of the asset, the asset is recognized to the extent of the
Bank's continuing involvement in the asset. Continuing involvement that takes the form of a
“guarantee’ over the transferred asset is measured at the lower of the original carrying amount of the
asset and the maximum amount of consideration that the Bank could be required to repay.

(ii) Financial liabilities

A financial liability is derecognized when the obligation under the liability is discharged or
cancelled or expires. Where an existing financial liability is replaced by another from the same
lender on substantially different terms, or the terms of an existing liability are substantially

"modified, such an exchange or modification is treated as a derecognition of the original liability and

the recognition of a new liability, and the difference in the respective carrying amo’ i
. . a ts
_Tecognised in profit or loss. e 5 at

Impairment and uncollectibility of financial assets

An assessment is made at each balance sheet date to determine whether there is objective evidence
that a financial asset or group of financial assets may be impaired. If such evidence exists, the
estimated recoverable amount of that asset is determined and an impairment loss is recognized for
the difference between the recoverable amount and the carrying amount. The Bank did not record
any impairment adjustments at December 31, 2007 (2006 — nil).

Property and equipment
Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated
on the straight-line basis over the estimated useful lives of the assets as follows:

Building 40 years
Fumiture and fixtures 5-10 years
Motor vehicles S years +.
E.D.P. - Software _ S years
E.D.P. - Hardware 5 years
Machinery and equipment 3— 5 years

The carrying amounts of property and equipment are reviewed at each balarice sheet date to assess
whether they are recorded in excess of their recoverable amounts, and where carrying values exceed
this estimated recoverable amount, assets are written down to their recoverable amount. No such
write-downs have been recorded by the Bank. ;

Accounts payable and accrued liabilities

Liabilities for accounts payable and accrued liabilities, which are normally settled on 30-60 day
terms, are carried at cost, which is the fair value of the consideration to be paid in the ‘uture for
goods and services received. Payables to related parties are carried at cost. Accounts payable and
accrued liabilities are reported in other liabilities on the consolidated balance sheet.

Provisions

Provisioris are tecognized when the Bank has a present obligation (legal or constructive) as a result ”
of a past event, it is probable that an outflow of resources embodying economic benefits will be
required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

Pensions and other post-employment benefits

The Bank operates a defined contribution pension plan and two defined benefit pension plans
which require contributions to be made to separately administered funds. The Bank also provides
defined benefit post-employment healthcare benefits to its retirees which are unfimded. The cost of
providing the defined benefits under these plans is determined separately for each plan using the
projected unit credit actuarial valuation method. Actuarial gains and losses ure Tecognized as
income or expense when the cumulative unrecognized actuarial gains or losses for each individual
plan exceed 10% of the greater of the defined benefit obligation or the fair value of plan assets.
These gains or losses are recognized over the expected average remaining working lives of the

employees participating in the plans. Actuarial valuations are performed by qualified independent
actuaries. *

Translation of foreign currencies
Monetary assets ‘and liabilities denominated in currencies other than United States dollars, the

functional and presentation currency of the Bank, are translated at the rates of exchange prevailing
at the year end.

Related party balances
All balances with the ultimate parent company or its subsidiaries are shown in the consolidated
balance sheet as related party.

SA TIS LSA

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smo Eon pore

a
_ THE TRIBUNE

SS Ley

Assets under management ae :
No account is taken in these consolidated balance sheet of assets and liabilities of clients managed
and administered by the Bank or its subsidiaries as custodian, trustee or nominee, other than those
assets and liabilities which relate to the banking services provided by the Bank or its subsidiaries
for their clients.

IFRSs and IFRIC Interpretations not yet effective .
Early adoption :
The Bank did not early adopt any new standards during the year.

The Bank has not applied the following IFRSs and IFRIC Interpretations that have been issued but
are not yet effective: :

IFRS 8 ing Segments, requires disclosure of information about the Bank’s operating
ae oe a requirement to determine primary (business) and secondary (geographic)
reporting segments in the Bank. This standard becomes effective for annual periods beginning on
or after January 1, 2009, and as a result, certain disclosures may be added to the Bank’s
consolidated balance sheet upon adoption.

IAS 23 was issued in March 2007, and. becomes effective for financial years beginning on or after
January 1, 2009. The standard has been revised to require capitalization of borrowing costs when
such costs relat to a qualifying asset. The adoption of this interpretation is not expected to have an
impact on the consolidated balance sheet when implemented in 2009.

IFRIC 11 was issued in November 2006, and becomes effective for financial years beginning on or
after March 1, 2007. This interpretation addresses group and treasury share transactions related to
share-based payments to employees. As equity instruments are only issued to employees in
accordance with the employee equity participation plans, the interpretation will have no impact on
the Bank.

IFRIC 12 was issued in November 2006, and becomes effective for financial years beginning on or
after January 1, 2008. This interpretation gives guidance on the accounting by. operators for public-
to-private service concession arrangements. This interpretation is not expected to be relevant for the
activities of the Bank.

IFRIC 13 was issued in June 2007 and becomes effective for annual periods beginning on or after
July 1, 2008. This interpretation requires customer loyalty award credits to be accounted for as a
separate component of the sales transaction in which they are granted and therefore part of the fair
value of the consideration received is allocated to the award credits and deferred over the period
that the award credits are fulfilled. The adoption of this interpretation is not expected to have an
impact on the consolidated balance sheet when implemented in 2008.

IFRIC 14 was issued in July 2007 and becomes effective for annual periods beginning on or after
January 1, 2008. This interpretation provides guidance on how to assess the limit on'the amount of
surplus in a defined benefit scheme that can be recognized. as an asset under IAS 19 Employee
Benefits. The adoption of this interpretation is not expected to have an impact on the consolidated -
balance sheet when implemented in 2008.

3. Loans and Advances

2007 2006

: $°000 $7000

Demand loans 25,970 , 25,280
Fixed-term loans 6,521 6,164
Mortgages rd 11,191 15,744
43,682. 47,188

Loans and mortgages are denominated primarily in United States dollars and United Kingdom
pounds. Loans are secured primarily by cash deposits and marketable United States securities.
Mortgages are secured primarily by real estate located in The Bahamas. The total lending value of
all collateral held against outstanding loans at December 31, 2007 was $302 million (2006 - $283
million).

At December 31, 2007, theré are no loans and mortgages on which interest is not being accrued, or *

-where interest is suspended (2006 — nil).

4. Financial Investments

Financial investments held-to-maturity consist of U,S. Treasury notes carried at amortized cost of
$5,884,000 (2006 - $7,757,000). Financial investments available-for-sale consist of corporate
bonds valued at $364,907,000 (2006 - $424,385,000). ;

The maturity profile and interest rates of the investments are shown in note 11.

5. Property and Equipment
_An analysis of activity in property and equipment was as follows:

. Beginning Ending

‘Cost : __ Balance Additions ~ Disposals Balance
$7000 $7000 $7000 5°000
Land 3,113 - - 3,113
Building . 9,803 49 - 9,852
Machinery & Equipment 2,658 - 134 (19) 2,773
Furniture & Fixtures 1,130 31 (6) = 1,155
Motor Vehicles _ 167 27 (17) 177
EDP Software & Hardware 8,833 133 (745) 8,221
Total 25,704 374 (787) 25,291
_ Beginning Charge for _ . Ending
Accumulated Depreciation Balance Year Disposals Balance
$°000 $000 =‘ $000 $7000
Building: 2,117 293 - ' 2,410
Machinery & Equipment 2,473 112 (19) 2,566
Fumiture & Fixtures , + 1,062 . 13, (6) 1,069
Motor Vehicles J 75 36 (17) 94
EDP Software & Hardware _ 6,250 $12 (5) 6,757
Total : 11,977 __ 966 (47) 12,896
Net ;
Beginning Additions Ending .

Balance (Disposals) Depreciation _ Balance

Net Book Value $7000 $°000 $7000 $7000

13,727 (366) (966) 12,395
11,869 2,890 (1,032) ___13,727

December 31, 2007
December 31, 2006

/



6. Other Assets

2007 2006

$000 $000

Interest receivable - : 3,197 2,824
Prepaid 767 515
Accrued fees ; ; 375 2,283
Other 7 43 626
Total other assets 4,382 6,248

f ee bse Lk

7. Post-Employment Benefits

Pension plans

The Bank has two defined benefit pension plans - Retirement Scheme for Bahamian Employees
(Bahamian) and Retirement Scheme for Non-Bahamian Employees (Non-Bahamian) - covering
substantially all of the employees. The plans provide benefits based on final pensionable salary.
The level of contributions required to cover future retirement benefits is based on the projected final
salaries and is determined by a qualified actuary on the basis of valuations using the projected unit
credit actuarial cost method. The plans are subject to annual actuarial valuations and the most
recent valuations were made as at December 31, 2007 by qualified actuaries, Watson Wyatt. These
plans are closed to employees hired after October 31, 2003. The Bank will offer a defined
contribution plan to the employees hired after October 31 , 2003.

Pension plan liability (asset)

Pension Plans :
Bahamian Non-Bahamian :

2007 2006 2007 2006

$°000 $000 $°000 $7000
Benefit obligation (16,301) (15,807) (2,204) (2,227)
Plan assets ; 19,585 18,885 1,491 1,431
Overfunded (unfunded) benefit obligation 3,284 3,078 (713) (796)
Unrecognized net actuarial gains 192 288 103 554

Pension plan asset (liability) 3,476 3,366 (610) —~=«242)

WEDNESDAY, JUNE 11, 2008, PAGE 9B -

Activity in the pension plan liability (asset) during the year was as follows:

Pension Plans

Baliimian Non-Bahamian __
2007 2006 2007 2u06
. $7000 $°000 $7000 $°000
Pension plan asset (liabil:ty),
beginning of year 3,366 3,530 (242) (185)
Benefit expense 110 (164) (597) (124)
Contributions - - 229 67
Pension plan asset (liability), eT ee ack eg
_ end of year 3,476 3,366 (610) (242)

The principal assumptions used in determining pension benefit obligations for the Bank’s plans are
shown below:

Pension Plans

Bahamian Non-Bahamian
2007 2006 2007 2006
% - % % %
Discount rate at December 31 6.16 6.16 6.12 6.12
Expected return on plan assets 7.10 7.10 6.60 6.60
Future pension 2.45 2.45 2.42 2.42
Proportion of employees opting
for early retirement 4.00 1.00 1.00 1,00
7 SS
Post-employment healthcare benefits

The Bank also provides post-employment healthcare benefits to a small number of retirees, On
January 29, 2004, the Bank cancelled this benefit for current employees and significantly reduced
the benefit offered to retirees.

The following table summarizes the component of net post-employment healthcare benefit liability
in the consolidated balance sheet. ; ,

2007 2006

$’000 5°000
Unfunded benefit obligation 1,765 1,885
Unrecognized net actuarial gains : 266 35
Post-employment healthcare liability 2,031 1,920 _ ‘

Activity in the post-employment healthcare plan liability during the year was as follows:

2007 2006
$°000 $000
Post-employment healthcare liability, beginning of year 1,920 1,962
Benefit expense MW 103
Contributions/adjustment _: (145)
Post-employment healthcare liability, end of year 2,031 1,920

The principal actuarial assumptions used in determining the post-employment healthcare benefit
obligation are as follows:



2007 _ 2006.

% %

Discount rate. : 3 5.97 6.00

_ Healthcare cost increase rate 5.00 5.00

8. Other Liabilities

2007 2006
$7000 $7000
Interest payable : ce - 2,995. 1,873
Accrued expenses f 1,698 1,724
Legal provisions f 1,666 1,686
Due to group companies : ‘ 1,288 _ 925
Accounts payable é : 750 277
Uneared fees 476 1,412
Derivative financial liability —forward contract 46 "240
Other ; - 92 631
~ Total other liabilities; 9,011. : 8,768

9. Commitments and Contingencies

_ The Bank is a party to certain financial instruments with off-balance sheet risk, in the normal course
of business, to meet the financing needs of its customers. These financial instruments include
acceptances and guarantees, commitments to extend credit under lines of credit, and commitments
to originate loans and mortgages. Exposure to loss is represented by the contractual amount of
those instruments, however, the Bank uses the same credit arid hypothecation criteria when entering
into these commitments and conditional obligations as it does for loans and mortgages,

Contingent liabilities under acceptances and guarantees entered into on behalf of customers and
commitments to extend credit under lines of credit, in respect of which there are corresponding
obligations by customers as at December 31, 2007 are not included in the consolidated balance
sheet and are shown below.

2007 2006 -
"$000 $°000
Contingent liabilities jo wR 4 36,448 14,397
Commitments + 31,340 37,324
Total 67,788 51,721

As of December 31, 2007, there were several legal actions brought against the Bank by clients
which had not been resolved. The Bank has been advised by lawyers that it is probable that some
of these actions will succeed and-accordingly, at December 31, 2007, a provision of $1.7 million
(2006: $1.7 million) has been made in the consolidated balance sheet.

10. Related Party Balances

The following is a summary of related party balances in the consolidated balance sheet at December
31: ‘

2007 2006
- $°000 $000
Loans and advances to banks
Parent t 348,799 475,294
Other affiliates Ye 2,575 : 206
Total amount due from related parties 351,374 475,500
Loans and advances from banks
Other affiliates «1,150 2,062
Other liabilities ; ,
Parent : : BY 1,288 689
Total amount due to related parties 2,438 2,751
11. Capital

The Bank maintains an actively managed capital base to cover risks inherent in the business. The
adequacy of the Bank’s capital is monitored using, among other measures, the rules and ratios
established by the Central Bank of The Bahamas and the British Financial Services Commission in
supervising the Bank.

During the past year, the Bank had complied in full with all its extemally imposed capital
requirements.

Capital management ; :

The primary objectives of the Bank’s capital management are to ensure that the Bank complies with .
extemally imposed capital requirements and that the Bank maintains strong credit ratings and
healthy capital ratios in order to support its business and to maximize shareholders’ value.

The Bank manages its capital structure and makes adjustments to it in the light of changes in
economic conditions and the risk characteristics of its activities. No changes were made in the
objective, policies and processes from the previous years.

The Bank manages a part of its credit risk by ensuring appropriate collateral is held. At December
31, 2007, all loans and advances were fully secured and no provision was deemed necessary.

Regulatory capital

: Actua! Required Actual Required

2007 2007 2006 2006
0062006

$000 $000 $°000 $000

Tier 1 capital 28,391 12,832 27,922 12,289

Tier 2 capital 4,012 - 525 :

Total capital 24,379 17,832 28,448. 12,289
: eS eh er ame

Risk weighted assets 160,392 153,610
pacer! 60,392 eeeeedee
PAGE 10B, WEDNESDAY, JUNE 11, 2008

PQ ART

Tier | capital ratio : 17.7% 8.0% 18.2% 8.0%
Total capital ratio 15.2% 8.0% 18.5% 8.0%

Regulatory capital consists of Tier 1 .capital, which comprises share capital and retained earnings
including current year profit. The other component of regulatory capital is Tier 2 capital, which
includes reserves.

12. Financial Instruments and Risk Management

General

Risk is inherent in the Bank’s activities but it is managed through a process of ongoing
identification, measurement and monitoring, subject to risk limits and other controls. The process
of risk management is critical to the Bank’s ongoing profitability and each individual within the
Bank is accountable for the risk exposures related to their responsibilities. The Bank is exposed to
credit risk, liquidity risk and market risk. The Bank is also subject to general operating risks.

The independent risk control process does not include business risks such as changes in the
environment, technology and industry. These risks are managed through the Bank’s strategic

~ management processes.

- Risk ‘management structure
The Board of Directors is ultimately responsible for identifying and controlling risks; however,
there are separate independent bodies for managing risks including; the risk committee, the credit
committee, the finance committee and the internal audit department. Each of the individual bodies
are empowered to implement risk strategies for maintaining controls over the portions of the Bank’s
operations for which they are responsible. 7

Risk measurement and reporting systems

The Bank’s risks are measured using a method which reflects both expected and unexpected losses.
The risk measurements are based on historical experiences, adjusted for changes in the banking
industry and other environmental factors. The Bank also operates within the limits prescribed by its
Parent and its regulators. Various committees provide reports to the Board of Directors, which

The Bank’s lending is mainly concentrated in the financial services industry, with little lending
outside of that market.

Collateral and other credit enhancements

The amount and type of collateral required depends on an assessment of the credit risk -of the
counterparty. Guidelines are implemented regarding the acceptability of types of collateral and
valuation parameters. For securities lending the main types of collateral are cash or securities.

Management monitors the market value of collateral, requests additional collateral in accordance
with the underlying agreement when necessary, and monitors the market value of collateral
obtained during its review of the adequacy of the allowance for impairment losses.

A

Credit quality per class of financial assets —

The credit quality of financial assets is managed by the Bank using internal credit ratings which is
based on the main Rating Agencies’ classification for the counterpart risk (due from banks) and on
the Asset Classification Rating System according to the Guidelines for the Management of Credit
Risks issued by the Central Bank of The Bahamas for loans and advances due from clients. The
table below shows the credit quality by class of financial asset for consolidated balance sheet lines,
based on the Bank’s credit rating system. .



Past due or
December 31, 2007 High Standard Sub- Individually
Grade Grade standard Impaired Total
2007 2007 2007 ___2007 2007
$000 $000 $000 $7000 =©$000
Cash and balance with Central 415 - - - 415
Bank
Loans and advances to banks 368,089 - - - 368,089
Loans and advances to customers 43,682 - - - 43 ‘682
Financial investments available-for- .
sale : 364,907 - - - 364,907
Financial investments held-to-
maturity 5,884 - - - 5,884



782,977 : - -_ 782,977

I

THE TRIBUNE

Past due or .
December 31, 2006 High Standard Sub- Individually -
Grade Grade standard © Impaired Total
2006 2006 200 2006 —-2006
$000 $7000 $7000 $7000 =§=©$’000
Cash and balance with Central Bank 452 - - - 452
Loans and advances to banks 500,255 - - - 500,255
Loans and advances to customers 47,188 - - - 47,188
Financial investments available-for-
sale 424,385 - - - 424,385
Financial investments held-to- .
maturity ST ST
. 980,037 - - - 980,037

The Bank did not have any loans past due and not impaired at December 31, 2007 and 2006.

Liquidity risk management

Liquidity risk is the risk that the Bank is unable to meet its payment obligations when they fall due
under normal circumstances and stress circumstances. To limit this risk, management has arranged
diversified funding sources in addition to its core deposits base, manages assets with liquidity in
mind, and monitors future cash flows and liquidity on a daily basis.

The Bank maintains a portfolio of highly liquid assets that can be easily liquidated in the event of
an unforeseen interruption of cash flow. The Bank has secured commitments from its Parent for
funding in emergency situations. The Bank is also subject to regulatory guidelines related to
liquidity which includes the matching of assets and liabilities based on the terms of remaining
contractual maturity reducing liquidity risk in the process.

Analysis of financial assets and liabilities by remaining contractual maturities

include information on credit exposure, interest rate exposure and liquidity exposures. In addition, December 31, 2007 .
itors i i all risks s and activities. x
the Bank monitors its aggregate risk exposure across all risks type: Penk pect: Riad. Cua
Risk mitigation Months Six ToOne ; To More than
The ee not hold any trading positions for its own benefit and uses collateral to reduce its or Less Months Year Five Years Five Years Total
credit risks. $7000 $7000 $7000 _ $7000 $7000 $7000
Assets
Excessive risk concentrations Cash and balance
Concentrations arise when a number of counterparties are engaged in similar business activities, with Central Bank 415 - - - - 415
similar geographic regions or have similar economic features which may cause their ability to meet Loans and advances
contractual obligations to be similarly affected by changes in economic, political and other to banks 368,089. - - - - 368,089
‘conditions. Concentrations indicate the relative sensitivity of the Bank’s performance to Loans arid advances .
developments in a particular industry or geographic region. to customers 38,209 5,473 - - - 43,682
In order to avoid excessive concentrations of risk, the Bank’s policies and procedures include Financial investments
specific guidelines to focus on maintaining a diversified portfolio. In addition to the Bank’s own available-for-sale 29,329 = 21,164 21,500 292,914 - 364,907
policies and procedures, compliance with regulatory guidelines related to the concentration of risks Financial investments
is also mandatoty. ; ; held-to-maturity - 1,008 2,022 2,854 5,884
2 439,072 29,491 21,500 292,914 - 782,977
Credit risk ‘ eg ee ee ae
Credit risk is the risk that the Bank will incur a loss because is customers, clients or counterparties yee:
failed to discharge their contractual obligations. The Bank manages and controls. credit risk by Liabilities
setting limits on the amount of risk it is willing to accept for individual counterparties and for Loans and advances ;
geographical and industry concentrations, and by monitoring exposures in relation to such limits. - from banks 5,354 : . - ss 5,354
Credit risk arises principally from lending, investing and, to a lesser degree, on trading activity Customer deposits = _"_747,250__— 7,778 9,661 784 689
involving on and off balance sheet instruments. The Bank’s Parent has set portfolio and individual a 152,008 TTB. = 700) 0085
credit limits and these are monitored on an ongoing basis.
: December 31, 2006
The size of the consolidated balance sheet is such that it is possible to examine each individual Six
exposure to evaluate if specific provisions are necessary or adequate. The maximum exposure to Three Fourto Months One Year
credit risk is the carrying value of the assets. The Bank makes available to its customers guarantees Months Six To One To More than
which may require that the’ Bank makes payments on their behalf. Such payments are collected or Less_Months Year Five Years Five Years Total
from customers based on the terms of their letter of credit. The guarantees expose the Bank to risk $7000 ~ $7000 $000 $7000 $7000 $7000
similar to other loans and these are mitigated by the same control processes and procedures used for Assets
‘loans. Cash and balance with
, Central Bank » 452 : - - - 452
Maximum expos##e to credit risk without taking account of any collateral and other credit Loans and advances to : /
enhancements banks 500,148 58 49 - - 500,255
The table below shows the maximum exposure to credit risk for the components of the consolidated Lome ee ie 42.057 . 5.132 3 a 47.189
balance sheet, including derivatives. The maximum exposure is shown gross, before the effect of : cha" : me : 7 .
mitigation through the use of collateral agreements. Financial investments
available-for-sale 4,000 25,874 46,027 348,484 - 424,385
Gross Gross Financial investments :
maximum maximum held-to-maturity = = 1 2795 4,974 988 7,757
exposure exposure 546,657 — 25,932 53,003 353,458 988 980,038
Notes 2007 2006 SL pat 9. ho a fa a SoS fe
$7000 $7000 Liabilities
: Loans and advances :
Cash and balances with Central Bank 415 452 from banks. 8,865 - - - - 8,865
Deposits with other banks 368,089 500,255 Customer deposits 934,071 7,370 15,808 - -___ 957,249
Loans and mortgages 43,682 47,188 943,400 7,370 (15,808 +~- ~~ ~~ 965,414
Investment securities é 370,791 432,142 ie Gas es Meera eR MS NG ey Ga ae Seen eg es See EN ee
Other assets 23,097 25,454 _ Analysis of financial assets and liabilities by remaining contractual maturities (continued).
Total 806,074 1,005,491 :
She Ce The table below shows the contractual expiry to maturity of the Bank’s contingent liabilities and
~ Contingent liabilities 9 36,448 14,397 copmmitinents: ,
Commitments . 9 31,340 37,324 | :
Total - 67,788 51,721 Six
erode LS 2A iene ere Col eS Three Fourto Months One Year Over
; a / Months Six. to One to Five Five Total
Total credit risk exposure 873,862 1,057,212 or Less Months Year Years Years
: $7000 =: $000 $°000 $7000 $7000 $7000
‘eure tinancial instruments are recorded at fair value, the amounts shown above represent the December 31, 2007 a
current credit risk exposure but not the maximum risk that could arise in the future as result of .
changes in value, Contingent liabilities 20,825 1,800 3,708 10,115 - 36,448
: gob : bas, Commitments 7,610 21,531 2,199 7 - 31,340
Risk concentrations of the maximum Spesnne <2 credit risk a | 2843573331 5,907 101156788
Concentration of risk is managed by both client and counterparty, by geographical region and by ‘
industry sector. The maximum credit exposure to any client or counterparty as at December 31, December 31, 2006 ©
2007 ‘was $20.8 million (2006: $5.1 million) before taking account of collateral or other credit ;
enhancements. Contingent liabilities 3,731 5,635 ~—-2,570 2,461 - 14397
The Bank’s financial dssets, before taking into account any collateral held or other credit aoe SRT 4551 2,331 37,324
enhancements can be analysed by the following geographical regions: mn 28906 TAN 4792 51,721
2007 2006 Market risk ;
——$000. $000 Market risk is the risk that the fair value or future cash flows of financial instruments will fluctuate
ae , ; he a gi oe in market variables such as interest rates or foreign exchange ‘rates. The Bank
PE , ; not have any trading positions. All positions are managed and monitored using sensitivity
North America . 701 57,868 analyses. Except for the concentrations within foreign currency the Bank has no significant
Caribbean 417,967 45,947 concentration of market risk. The Group’s treasury department manages the liquidity structure of
Other 17,535 88,745 the consolidated balance sheet. This is to ensure that funding obligations are met and that the Bank
Total 806,074 1,005,491 is in compliance with regulatory liquidity Tequirements.

Market risk, including foreign exchange risk, interest rate risk and liquidity risk, is encountered
during the Bank’s normal operating activities. The SG Hambros Group is responsible for setting
market risk limits and for managing and monitoring these limits. The Group’s treasury department
also operates a central treasury for the Bank and is responsible for the active management of the

i risk of the Bank on a day to day basis. The Bank also monitors market risk on a day to day
asis.

Interest rate risk

Interest rate risk arises from the possibility that changes in interest rates will affect the future cash
flows or the fair values of financial instruments: The Bank has established limits on the interest rate
gaps for stipulated periods. Positions are monitored on a daily basis.

The Bank’s exposure to interest rates for significant interest-bearing monetary assets and liabilities
by major currencies was as follows:

December 31, 2007

United States Pound
——___Dollars_ Euro” Sterling |
Assets
Loans and advances to banks 1.70% to 5.14% 3.15% to 4.80% 5.60% to 6.40%
Loans and advances to
customers 3.25% to 8.13% 5.00% 6.50% to 7.06%
Investments available-for-sale 4.96% to 5.44% 4.70% to 5.07% 6.04% to 6.46%
Investments held-to-maturity 4.00% to 6.00% - -
Liabilities
Customer current accounts 0.26% to 4.38% 2.17% to 3.67% 1.25% to 5.66%
_Customer deposit accounts 1.94% to 5.20% 1,63% to 4.31% 3.50% to 11.50%
December 31, 2006
United States Pound
Dollars Euro Sterling
Assets
Loans and advances to banks 5.23% to 5.29% 3.62% to 3.65% 4.68% to 5.15%
Loans and advances to
customers 6.25% to 8.37% 4.25% 0.5% to 12%
* Investments available-for-sale 5.44% to 5.65% 3.56% to 3.91% 5.25% to 5.50%

Investments held-to-maturity 2.93% to 4.18% -
THE TRIBUNE

WEDNESDAY, JUNE 11, 2008, PAGE 11B



a eT ES UNS PE ra

VACANCYINOTICE #
AssistantiDirectorl-JHR 2

Liabilities
Customer current accounts 1.98% to 3.98% - 1.75% to 3.75%
Customer deposit accounts 2.94% to 5.35% 1.25% to 3.36% 2.75% to 11.50%

At December 31, 2007 and 2006, the Pound Sterling current account was eligible to bear interest
based on current market conditions on balances over £10,000.

Currency risk
Currency risk is the risk that the fair value or future cash flows of a financial instrument will

fluctuate because of changes in foreign exchange rates.

Foreign exchange risk is controlled via net short open and forward foreign exchange gap limits.
Foreign exchange trading has not been a core activity of the Bank during the year and, in the
opinion of the management, the risk inherent in these limits is considered to be minimal. In addition
to the Bank’s policies regarding currency risk, regulatory guidelines of the Central Bank of The
Bahamas also stipulate the matching of financial assets and financial liabilities based on currency to
limit the exposure to foreign currency fluctuations in the market.



December 31, 2007
United States Pound f
Dollars Euro Sterling Others
$000 $000 $7000 $000
Assets 460,107 226,024 72,495 * 47,448
Liabilities and shareholder’s '
equity 471,968 227,970 72,791 33,345
’ December 31, 2006
Assets 484,787 408,316 49,435 62,953
Liabilities and shareholder’s :
equity 508,404 408,563 49,326 39,198
Operational risk

Operational risk is the risk of loss arising from systems failure, human error, fraud or external
events. When controls fail to pérform, operational risks can cause damage to reputation, have legal
or regulatory implications, or lead to financial loss. The Bank cannot expect to eliminate ali
operational risks, but through a control framework and by monitoring and responding to potential
risks, the Bank is able to manage the risks. The identification and control of these risks is managed
by Management. Controls over these risks include effective segregation of duties, access,
authorization and reconciliation procedures, staff education and assessment processes, including the
use of internal audit. The Bank Risk’s Management Department and Internal Auditors carry out
regular reviews of all operational areas to ensure.operational risks are being properly controlled and
reported to the Risk Committee. Contingency plans are in place to achieve business continuity in
the event of serious disruptions to business operations.

Net fair value of financial instruments
‘Financial instruments utilized by the Bank include recorded assets and liabilities, as well as items
that principally involve off-balance sheet risk. The majority of the Bank’s financial instruments are
either short-term in nature or have interest rates that automatically reset to market on a periodic
basis. Accordingly, the estimated fair value is not significantly different from the carrying value for
each major category of the Bank’s recorded assets and liabilities.

13. Comparative Figures

Certain 2006 amounts have been reclassified to conform with the consolidated balance sheet
presentation adopted for 2007." :



Allvacancylexistsilat] Thel National Insutancel Board forlani AssistantiDirectori of] Human
Resources.

ReportingltolthelDirector, Iehgasucceaet all plicanantibienrsponsiblentesbeheniahieereniicd fi
thelHumanlResourceslandITrainingifunctionslofithelB oard.0ThislpositionIwill0belresponsible

for:

él

AdministrationlofllpersonnellpolicieslandIplansitolensurelfair,Jconsistentlandicompetitive
treatmentlofllalllemployeeslinlaccordancellwithllalllapplicablellegislationlandIregulations.

ImplementationlofilresponsivellemployeelrelationslprogramsltolcontributeltoDhi ghimoralel
andthighilevelsloflproductivity.

SuccessfullnegotiationloflindustriallagreementslwithImanagementlandinon- -managementl

- labourfunions.

Development, Dimplementationandladministrationlofleffectivelcompensationlandibenefitl
programsithaticontributeftolthelorganizationslabilityltollattractIretainflandImotivatelcompetent|

personnel.
%

Maintaininglalifavorabledworkingirelationshiplwithtlallotherlcompanydémployeesitolpromote

allcooperativelanddharmoniouslworkinglclimatelwhichiwilllbelconduciveltoJmaximumll
employeellmorale,Jjproductivity,landlefficiency/effectiveness.

Workingilcloselylwithllexecutivesiandidepartmentallsupervisorslinldetermininglicurr entland
futurelorganizationallneeds.

é0 Ensuringithatlallstafflmemberslreceivelappropriateltrainingitolperformiltheirijobslleffectively.

ProsecutionflandJmanagementiofilcaseslbeforelMinistryloftLabourflandiIndustriallTribunal.

Creationllanddupdatingllofifformallstaffljobldescriptionswhentnecessaryltolincreasellefficiency

andllachievementiofilthelorganizationislgoalslwithlinputlfromlstafflandlotherlappropriatel |

resources.

Develop, fadministerlandimonitorlanleffectivelperformancellappraisalllsystemilthatilprovides

meaningfull feedback tol staffll therebyl enhancing! theirl growthl andl development. | -

REQUIREDISKILLSIANDISPECIALITECHNIQUES

BelalstrongiteamlplayerlandibusinessImanageriwithlallsolidifoundationlandlunderstanding}
offloverallibusinessfoperations, Ushowinglthellability0tolinterfaceleffectivelylwithiallllevelst
andifunctionslwithinUtheforganization.

Havellexcellenticommunicationlskills Dbothtorallybandlindwriting, Danddbellanfoutstandingt

listener.

Belservicellorientedlandlyetihavelallstrategiclorientation JanticipatingOwhatineedsltolbelidond
andiladdressingithoselneedslcreatively.

Stronglmanagementiandfleadershiplskills.

QUALIFICATIONSIANDIEXPERIENCE

Theflideall candidatel willdhavelalBacheloris) DegreelandJatileastifivel pluslyearsJofl Huma
Resourcesllexperiencelinflalleadershiplorlmanagementicapacity.JA0MasterisiDegreefinJHuman
Resourceslispreferred.JResumesiwithlsupportingfdocumentationIshouldlbelsubmittedlonfor
beforeJMonday,JJunel16,02008 Oto:

ThelDirector
THEINATIONALIINSURANCEIBOARD
P.O.1BoxIN-7508
Nassau,JBahamas

Weekend College

Make your weekends work for you! Earn
a degree in Business, Accounting,
Computers, Human Resource Manage-
ment or Public Administration.

New classes are forming now. Call Success for registration and program details. 324-7770

Royal Island (Bahamas) Limited

| INVITATION FOR EMPLOYMENT 1

Royal Island (Bahamas) Limited, the developers of the Royal Island
Resort and Residential Project, just off North Eleuthera wish to fill
the following position:

Electrical Superintendent

This position will oversee the construction and installation of the |
island-wide electrical systems Royal Island Bahamas.

The Qualified person will be able to run underground conduits, install
conduits in buildings, thus understand electrical installation needs
from start to finish. You will supervise contractors in the installation
of the designed electrical system. Primary responsibilities include
direct supervision of the electrical contractors, trouble shooting,
planning work, maintain jobsite safety, prepare daily construction
reports and to participate in weekly construction meetings. Position
requires the candidate to create and process contract directives to be
converted to change orders. This is not a desk position -this is a field
position. Educational degrees and certifications are a plus but experience
in maintenance and repair of electrical equipment in a commercial |
industry is better. Local candidates preferred. IMMEDIATE

INTERVIEWS for qualified applicants.

Qualifications and Experience:

The individual must have a minimum of fifteen (15) years of trade
experience in the electrical field. Applicant must demonstrate strong
eae: and excellent communication skills.

The suecesstul candidate will be required to work on Royal Island
Bahamas. ;

Interested persons should submit their resumes with cover letter to:
Fax to: (954) 745-4399

Or
Email to: aileen. miller @royalislandbahamas. com

" novi Island (Bahamas) Limited thanks all applicants ee Hehe.

interest, however only those aes under consideration will be
contacted.

Field Assistant Wanted
for Kirtland’s Warbler
Research Project

The Kirtland’s Warbler Training and Research Project is
seeking to employ a biology or environmental science
major as field assistant for its next field season beginning
October 2008 thru April 2009.

Unique opportunity to work with distinguished
ornithologists on a broad spectrum of bird research issues.
Excellent training opportunity in field research, public
education and community-based conservation.
Opportunities to travel to other Islands and also to the
United States to conduct research and make scientific
presentations.

Through a special arrangement with COB, students can
earn college credits for participation in the project.

~ Scholarship opportunities may also be available for students
successfully completing the project.

Comfortable stipend offered to successful applicant.

Duration: 9 months (October ’08 — April ’09)

ML

Location: South Eleuthera, Bahamas and
Michigan, USA

Send letter of interest and CV to:

Bahamas National Trust
P.O. Box N4105,

Nassau, Bahamas
Lina: bnt@bnt.bs |


PAGE 12B, WEDNESDAY, JUNE 11, 2008 THE TRIBUNE

In US, reta
gas prices over
$4.04 a gallon





Jeff Chiu/AP



A MAN waits for a crossing walk light to change across the street from a Shell gas station in San Mateo,
California yesterday. Oil prices fell Tuesday, giving up an earlier advance as the dollar held its gains against
the euro and the Energy Department slashed its oil consumption projections. Retail gasoline prices rose
to a new record over $4.04 a gallon.

(Sette Teh ctr Reg Eos SA el el 2 oe



Bahamas
must take
advantage
of citizens’
creative
talents

FROM page 1B

_ to bé creative, but feel some-
what stifled by the organisa-
tional culture they are in. By
encouraging and developing -
the creative side of their
employees, employers can
increase their competitiveness
and productivity.

Mr Finlayson said that this
could place the Bahamas as a
leader in creative economics - a
whole industry of using creat-
ing creative business ideas to
drive the country’s economy.

“If we do this, the good thing
is that we do not have to be
hindered by size or anything
else, just by what we can
dream and put into reality.”

The third international Fes-
tival in the Workplace will be
held June 15-16 at the British
Colonial Hilton under the
theme “Unleash the Festival
Transform your Organisation.”

It will feature such speakers
as Director of Culture Nico-
lette Bethel, Alexander
Kjerulf, the Happiness at
Work Project in Denmark,
Peter Block, international
‘management consultant and
author, and Jeannine Comma,
the executive director of the
Cave Hill Barbados School of
Business.

There will also be a dramat-
ic presentation written and
directed by Patrice Francis and
a Junkanoo Rush out, visit to a
Junkanoo shack and a perfor-
mance by Ancient Man.

Mr Finlayson said that the
programme which was
designed by Bahamians has
received international acclaim
winning the HR Innovation
Award from the HR Manage-
ment Association of Barbados
and the Association of HR
Management of the Caribbean.
Also the organisers had the
opportunity to share the pro-
gramme with at the LEGO
ideas conference in Denmark,
the Gel (Good Experience
Live) Conference in New
York and the Global Sol (Soci-
ety for) Organisational Learn-
ing) Conference in Oman in
the Middle East.



JST

i the stories



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rivers too. | Inchon
He RESCH
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