Citation
The Tribune

Material Information

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

Subjects

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

Notes

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

Record Information

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

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Full Text


McCOMBO "COO

HIGH
LOW

official restaurant



“t ‘a PARTLY SUNNY,



S1F
TIF

, Psion possible

Volume: 104 No.205

STM



ila ail

Ada AT Ly ae



Ginn Sur Mer company
faces possible foreclosure
on properties over failure

to meet loan

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

DEVELOPERS of the Ginn
Sur Mer development on Grand
Bahama have until Thursday to
avoid possible foreclosure on
four properties after failing to
meet a June 30 payment on a
$675. million loan.

The loan backs part of the
Ginn development on Grand

Bahama and three other prop-

_ erties in the United States.

payment date.

According to published ©

reports, after developers missed
a June 30 loan payment they

were granted a 30-day fore-_

bearance agreement which
allows the company to:keep the
property while negotiating a
new payment plan. »

Minister of State for Finance
Zhivargo Laing said he was
aware of the developers’ finan-
cial: woes but, as he did’not-have

SEE page 12

Caribbean energy costs

grow 370% i

in five years

@ By CARA BRENNEN-BETHEL \
Tribune Business Reporter



CARIBBEAN nations must begin to decrease their depen-
dence on fuel, as the high cost is causing a severe drain on
their external reserves, the Organisation of American States
(OAS) assistant secretary-general said.

SEE page 13

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BAHAMAS EDITION

MONDAY, JULY fo: 2008



for aie

naam

GUIDE INSIDE

/

CO



re &
HAVING A BALL: Minister of State for Finance Zhivargo Laing goes for the
basket as Parliamentarians took on Pastors during a basketball match. Who

won? FIND OUT ON PAGE 6.



Hope from ashes of despair

THE owner of an Abaco
supermarket destroyed by fire
hopes to have the business up
and running again by Christ-
mas.

And he is determined that no
jobs will be lost because of the
disaster.

TURKEY

Chad Sawyer, whose
Maxwell’s store was Marsh Har-
bour’s main retail food outlet, is
already drawing up plans for a
replacement building on a new
site.

SEE page 12

b, Quiznos sSuB

ASTY!

e TUNA e






eS Country would be hit by American |
travel to Cuba, new study shows _

about 36, 000

-i..THE Bahamas: will lose
499,000 US tourists, while gaining

36,000 non-US tourists, when

“American travel to Cuba opens, a

new study finds. ~
The report found that the
Bahamas stands to be one of the

. countries - following only behind

Cancun, with a loss 614,000 visi-
tors - to lose the most with the
liberalisation of the Cuban mar-
ket.

The opening of Cuba, accord-
ing ‘to one of the researchers
preparing the report, will cause

. an “industry shock” the likes of

‘which only occurs “once in 100
years” but there is no evidence
that the Bahamas and Cuba’s oth-
er neighbours “hedged potential
losses ahead of this change”.

Stolen


























meat
litters
street

MORE than 200 pounds of
stolen meat littered a street in-
Grand Bahama early yester-
day morning and was recov-
ered by Grand Bahama
police.

Police believe robbers lost
the products after they fell
off the back of their getaway
vehicle.

The meat, 220 pounds of
it, was Still frozen when Cen-
tral Detective Unit officers
on patrol in North Bahama
stumbled across the packaged
goods strewn in the street
near the Regency Theatre.

The items have been
secured until police can iden-
tify an owner but it is sus-
pected the goods were stolen
from a store.

Witnesses told police they
saw a white truck with two

SEE page 13



SALAMI & CHEESE @ HAM & CHEESE





{i Non US visitors likely to number

This news comes at a time
when newly-appointed Minister
of Tourism Vincent Vanderpool-
Wallace faces the task of i improv-
ing and maintaining th the country’s
position in the global tourism
market.

The study, conducted by the
International Monetary Fund’s
Rafael Romeu, entitled “Vaca-
tion Over: Implications for the
Caribbean of Opening US Cuban
Tourism’, examines the effect an

“open” Cuba will have on the
Caribbean’s tourism market.

Romeu’s report is one of a
number of studies examining the
issue, butsnone has reached a con-
sensus as to what the full-term

SEE page 13

Serial rapist:

Police seek

‘person of
interest

m@ By TANEKA THOMPSON

Tribune Staff Reporter
tthompson@tribunemedia.net

POLICE on Grand Bahama
are searching for a “person of
interest” they believe can assist
with the arrest of a serial rapist
who targeted at least three vic-
tims on the island.

-“An island-wide search is
continuing for the suspect
believed to be responsible for
the rape incidents that occurred
in Freeport approximately three
weeks ago,” Chief Supt Basil
Rahming said in a release yes-
terday.

Although police are not yet
able to produce a photo or
sketch of the suspect, CSP Rah-

“ming said detectives are in

search of “a person of interest”
who they believe can assist in

SEE page 13







ENsoy A

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PAGE 2, MONDAY, JULY 28, 2008 — THE TRIBUNE
LOCAL NEWS

RONNIE BUTLER

says ‘thank you’ ‘tor tributes











PICTURED FROM LEFT,
Minister of State for Cul-
ture Charles Maynard,
Ronnie Butler, Pat Mor- .
timer, director of catering
and convention services
' at Sheraton Cable Beach
Resorts, Sheree Flowers
‘and proprietor of

: Coconuts Bar and Grill
Eldon Ferguson.




Letisha Henderson/BI!S Photo













































AS a fitting end to a week of
activities planned in his honour,
Ronnie Butler, dubbed the “God-
father of Bahamian Music,”
‘extended appreciation to Minister
of State in the Ministry of Youth,
Sports and Culture Charles May-
nard and the organisers of “Ron-
nie Butler Week” by hosting a.
special lunch at Coconuts Bar and
Grill, West Bay Street.

_ In response to the gratitude
extended to him and the team of
organisers, Minister Maynard
said: “He (Ronnie Butler) is well
deserving of all the honours he
has received and he thought it
was necessary to bring us all back
together one more time and say
thank you.”

Butler, whose contribution to
the Bahamian music industry
spans some 54 years, recently cel-
ebrated his 70th birthday. The
government, in conjunction with
a private sector committee, organ-
ised a week of activities to recog-
nise the great Bahamian icon as a
cultural ambassador, entertainer
and musical veteran.
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THE TRIBUNE

MONDAY, JULY 28, 2008, PAGE 3



Twenty-four Cubans
arrested after US-
Bahamas operation

In brief

Two Freeport
residents
charged
separately
over road
deaths

TWO Freeport residents
were charged separately in
Freeport Magistrate’s Court
on Friday in connection with
two road deaths on Grand
Bahama.

Appearing in Court One
before Magistrate Debbye
Ferguson was Alton Curtis
Jr, of 4 Widgeon Road,
Grasmere.

‘Curtis, 21, was charsed
with killing in the course
dangerous driving.

It is alleged that on March
6, the accused was driving a
flatbed truck licensed
BV4649 along Queen’s Cove
Boulevard in a manner dan-
gerous to the public, causing
the death of Sanitation Ser-
vices employee Ronald Souf-
frant, who was riding on the
back of the garbage truck.

Curtis, who was not repre-
sented by counsel, elected
summary trial and pleaded
not guilty to the charge.

Magistrate Ferguson
adjourned the matter to Feb-
ruary 18,2009, and granted
Curtis $5,000 bail with three
sureties.

In Court Two, Maggie
McDonald of 10 Cocknell
Court, Sherwood Forest,
appeared before Magistrate
Andrew Forbes in connec-
tion with the death of a
motor-cyclist.

McDonald, 45, pleaded
not guilty to the charge of
killing in the course of dan-
gerous driving.

It is alleged that on March
22, McDonald was driving in
a manner dangerous to the
public, causing the death of
Dwayne Minnis on Midship-
man Road in Lucaya.

Magistrate Forbes
adjourned the matter to the.
November 21, 2008, and
granted th
bail with one surety.

Attorney K Brian Hanna
appeared on behalf of Ms
McDonald.

Police arrest
suspect in armed
robbery of phone
card hooth

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



”

POLICE arrested_a 19-
year-old man over the week-
end who is suspected of
being a part of a day-time
armed robbery of a phone
card booth.

According to police
reports. shortly before noon
on Friday, an employee of a
Quick Cell Booth on JFK
Drive was at work when four
occupants of a gold Nissan
Maxima pulled up and pro-
duced a weapon.

The employee was robbed
of cash and a number of
phonecards before the
thieves sped off.

Police were called and offi-
cers from Cable Beach
Police Station, who were in
the area, saw the gold Maxi-
ma.

When the occupants of the
car saw the police, they sped
away and police gave chase
and called for back-up, Asst
Supt Walter Evans said.

The car chase ended in St
Albans Drive after the sus-
pects hit a building and fled
the wrecked car.

Police searched the area
and a 19-year-old man,
believed to be one of the
occupants, was arrested and
is in custody.

Police searched the car
and found a shotgun with
four live rounds and two
black ski-masks inside.

Investigations are continu-

ing.

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Suspects held at

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Detention Centre

A JOINT effort between the
US Coast Guard and the Royal
Bahamas Defence Force result-
ed in the apprehension of 24
Cubans found in the Central
Bahamas on Friday afternoon.

The immigrants are now
detained at the Carmichael
Road Detention Centre.

The RBDF received word of
Cubans spotted on Fish Cay,
just off South Andros, and the
HMBS Inagua, under the com-
mand of Senior Lieutenant
Berne’ Wright, along with
HMBS P-121 were dispatched
to investigate, an official release
said. On arrival, they discov- .
ered the migrants (14 males,
eight females and two children),
who all appeared to be in fair
health.

They were all transferred
onboard the Defence Force ves-
sel and brought into Nassau late
Saturday night, where they were
turned over to immigration
authorities for further process-
ing. Two weeks ago, 28 migrants
were rescued by authorities on
Great Inagua after an\abortive
expedition, the RBDF reported.

The group - seven Domini-
cans (four men, two women and
a child) and 21 Haitians (16
men and five women) - was
found near a capsized vessel
near Mathew Town, Inagua.

All those aboard the capsized
vessel made it ashore safely, the
RBDF reported.



RBDF Photos by Leading
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CUBANS-onboard.HMBS /nagua shortly after their arrival in Nassau late
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A aa among the group of Gubahs re up by Defence Force offi-

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A GROUP of
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PAGE 4, MONDAY, JULY 28, 2008

THE TRIBUNE



ee Ec

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 Managenient Building., P.O. F-485, Freeport, Grand Bahama

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

Freeport fax: (242) 352-9348 EDTLOR, The Papune-



Airport users to get better food

PASSENGERS who use Lynden Pindling
International Airport will be delighted to know

that not only have the airport’s washrooms been
refurbished, but at last they will have a choice of
restaurants ia both the US and domestic termi-

nals.

Mr Ingraham announced in the House last
week that Nassau Airport Development Com-
pany (NAD) had already spent $2 million on
five new and refurbished washrooms in the var-
ious terminals, with four more underway as he
spoke last Wednesday.

As for the food service at the airport, the
complaints have been constant. They have come
especially from passengers on planes arriving
after or leaving before the restaurant staffs*
working hours. Passengers stranded at the air-
port when their {lights have been: delayed are

-also loud in their complaints about no late night
refreshments to slake their thirst and satisfy
their hunger.

In August, 2006 The Tribune reported a pas-
senger’s complaint that he could not even pur-

chase a sandwich because, although he had *

picked it up from the shelf, he could not pay for
it. The manager explained that there was a
“union issue going on” and he could not use the
cash register. So much for exclusive rights and
customer service at the airport.

But Mr {ngraham has promised a change.
There will now be a choice of restaurants that
will cater to passengers, their hours and their
needs. He said that “following a lengthy and
complex negotiation with the existing exclusive
food and beverage operator, many opportunities
will be available for the passengers within the
next few months.” Two new coffee bars will
soon open, in addition to several new franchise
food outlets in the US and domestic terminals.

Bahamas In-Flight Limited is the company
that held the exclusive concession as a public
and private caterer for the handling of in-flight
meals and refreshments for all aircraft landing
or leaving the airport. It also had the exclusive
franchise to sell food at Nassau International
Airport, now the Lynden Pindling Internation-
al Airport.

This company with its exclusive franchise
featured prominently in the 1983/1984 Com-
mission of Inquiry report into the transship-
ment of drugs when the commissioners were
examining the source of the late Sir Lynden
Pindling’s income.

During those hearings Sir Lynden, at the

‘ time prime minister, told the commissioners
that in 1972 he was instrumental in putting
together a “group of young business and pro-
fessional people for economic purposes.” Two
of those persons were Mr Gareth “Tiger” Fin-
layson and the late Everette Bannister, who











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after discussions, with Prime Minister Pindling
incorporated Bahainas Catering I.td on October

30, 1972 for the purpose of acquiring the shares .

of three other. Bahamian companies, one of
which was Nassau Airport Catering Ltd. Mr
Finlayson and Mr Bannister between them held
shares totalling 930 in trust for Sir Lynden.

In 1990 the exclusive contract with the com-
pany — now known as Bahamas In-Flight Ltd
(BIS) — was renewed under the Pindling gov-
ernment. The new 10-year lease was signed by
Philip Bethel, then Minister of Transport
responsible for Civil Aviation.

When BIS’s contract expired in 2000, the
Ingraham government did not.renew it, but let

it continue on a month-to-month basis. It was -

over BIS’s exclusivity agreement that the

“snag” developed — and almost collapsed — .

the Canadian negotiations for the management
of the airport.

In the negotiations BIS, relying on a clause in
its earlier contract, held that when its contract
expired in 2000, it automatically renewed itself
for another 10 years. This meant that BIS would

remain the exclusive caterer at the airport until

September 19, 2010. Government found this

‘position unacceptable.

Not only did the exclusivity of this lease
hamper the plans of the new managers, but it
held up two other developments envisioned by
government.

BIF’s exclusive concessions also extended
for five miles from the airport. That is why for-
mer Minister Bradiey Roberts, when he was in
Opposition, complained that a food vendor was
in breech of his company’s lease agreement
with the airport when she was allowed to sell
food from the trunk of her car in the airport’ s

_ parking lot.

BIS can now remain at the airport on a 10-
year lease if it upgrades its facilities and pays the
increased rates, failing that the lease will be
reduced to seven years. However, BIS no longer
has an exclusive franchise at the airport. This
means that Nassau Airport Development Com-
pany (NAD) can diversify its food outlets with
new tenants in the airport.

And with the five-mile exclusive zone outside

the airport removed, government can now go

ahead with its plans to create its concept of a

- service station with food available, and regu-

larise the parking lot fodd vendors. The pro-
posal is to move the. vendors to a designated
location and enter into lease agreements with
them.

Now with the stranglehold held’by one com-
pany and a political group removed from the air-
port, the Bahamas ‘1as a chance to fashion we
Atlantis chief Sol J this country’s success as a tourist destination,

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Mr J Saunders’ letter: Can

Grand Bahama residents han-

dle what’s coming next?

Is certainly a paradox and
draws a reply.

It is certainly extremely
healthy that the people are
commenting on their future,
pro and con, and I must con-
gratulate those who have
researched Fleming Family
Partners — this is very
healthy.

We have a habit in The’

Bahamas that if you flash-
enough and do a lot of public
relations somehow that indi-
cates you have money.

There are so many ‘exam-
ples all over the Bahamas
from the past of developers
proposing this and that and
when it comes to the crunch
suddenly bush-crack they are
gone!

To-day moreso than ever
we have to be extremely care-
ful what is presented for us to
consume as you have to know

’ the background of the parties

— they must disclose who and
what they intend and with
whom (give examples of who
they have interested in invest-
ing).

Iam not convinced that the
so-called initial statement that

Freeport could become anoth-

er Dubai makes any sense nor
do I see any suggestion that
the investors in Dubai and in
fact that region would consid-
er The Bahamas as that region
continues.to be streaks ahead
of any process or potential
return on investment that The
Bahamas can offer.

Firstly Dubai was built and
continues to be built with
exceptionally low cost foreign
labour from India, Pakistan
and Bangladesh — we know
that will be impossible in
Freeport or anywhere in The
Bahamas.

A search as where the Flem-

_ ing Family Partners are con-

centrating their current busi-

Reliability








Fax: 326-4831



Hua

letters@tribunemedia.net






ness activities suggests they
are very involved in Russia
and with the super rich bil-
lionaires who have made it
through what some would
conservatively describe as
tainted business deals.

Is Freeport going to be
turned into a pirate home port
for this kind?

I am very positive on
Freeport. even if the current

court matters drag on —I am.

concerned that the Govern-
ment might make a very seri-
ous wrong move, however,
and seriously suggest to the
Government to retain a
hands-off position however
use all the influence to per-
suade the parties to find a
buyer to purchase both par-
ties and then encourage that
party to join Hutchison-
Whampao, who has been such
a good corporate business, to
move forward with an aggres-
sive new economic develop-
ment plan appropriate for
Freeport.

Development of Freeport

Freeport

another
Dubai? ’
not so sure

even reject Bahamian on our
35th anniversary of Indepen-
dence?

A legal process must be

seen to have been completed

as the Rule of Law excludes
none, be you Sir Jack Hay-
ward — the Estate of Edward
St George — The Fleming
Family Partners/Ruddy Flem-
ing or anyone else.

Mediation failed and it
seems that the Fleming side is
hyping up and heating up fur-
ther legal challenges and we
pray there could be a rational
solution but.......

-The new chair and other
director on GBPA Board
have to be exceptionally care-
ful in their decisions so as to
avoid further litigation — my
advice would be to concen-
trate exclusively on the reten-
tion of a status quo basically
the administration of The Port
but hold-off on any decisions
which could irritate the
already explosive situation.

If I am hearing certain
rumours unfortunately a seri-
ous mistake has already
occurred which could cause
further injurious litigation
between the parties already
litigating — chairman hold
you hand.

has to be a Freeport-concept *:

not Dubai or anywhere else
— why copy, create something
uniquely Bahamian or do we

Cc PERCENTIE
Freeport
July 9, 2008.

Should I wear a lapel pin?

EDITOR, The Tribune.

Re: ‘Racial exclusion’ July 3, 2008.
Might it help if I were to wear a lapel pin?

KEN W
KNOWLES, MD
Nassau,
‘July 3, 2008.

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THE TRIBUNE

MONDAY, JULY 28, 2008, PAGE 5



Hotels charging
guests double
overnment tax,
says Ingraham

FOR a number of years,
hotels in New Providence and
throughout the country have
been charging guests double the
government tax that they are
allowed by law.

Addressing the House of
Assembly, Prime Minister
Hubert Ingraham said hotels in
NP have been stamping on bills
a 12 per cent government tax
when the government tax is
actually six per cent.

“The government receives its
six per cent. The other six per
cent is had by the Nassau Par-
adise Island Promotion board.
They say they have that to
improve the product.

“When Kerzner came to the
Bahamas and discovered that
this existed, he was able to put
all those fine roads on Paradise
Island, the sidewalks, fire sta-
tion and the rest of it, and goes
to the bank and says listen, I
need to borrow this money to
fix these places on Paradise
Island, in support of improve-
ment, and half of the money
from the six per cent the hotels
collect will be used to repay the
loan. That’s wonderful,” Mr
Ingraham said.

Now, having discovered that
this is the way to go, Mr Ingra-
ham said his government will

be engaging in discussions with ,

the Nassau Tourism Develop-

-ment Board with a view to
determine how much of that six
per cent is going to be allocated
for the product development of
the Lynden Pindling Interna-
tional Airport.

ae
EXTERMINATORS
aes Wa
PHONE: 322-2157
























CARIFESTA REHEARSAL



Caribbean Festival of the Arts (Carifesta).

























Police reported that a
man was shot while
attending a party in the
Garden Hills area.

ASP Evans said while at
a party at Garden Hill 3
around lam yesterday,
Patrick Pierre, 24, of
Fowler Street, was outside
when several occupants of
a Dodge Ram truck came
into the area.

It is reported that shots
were discharged from the
truck hitting the man,
whose age is unknown, in
the abdomen. The victim
was taken to hospital
where he is detained in
critical condition.

Police are uncertain
about the circumstances
surrounding this incident
and have launched an
intensive investigation.







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*

NASSAU, The Bahamas -- Direc-
tor of Culture Dr Nicolette Bethel
speaks at the meeting and
rehearsal for the Bahamian dele-
gation to the Caribbean Festival
of the Arts (Carifesta). More than
100 Bahamian artists, perform-
ers, entertainers and writers are
slated to represent. The Bahamas
at the 10-day event, which will be
held in Guyana in August. The
Bahamas will host the next Car-
ifesta in 2010.





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PAGE 6, MONDAY, JULY 28, 2008 THE TRIBUNE
LOCAL NEWS ]

a NELSON COOPER PEACE ON STREETS BASKETBALL: hi
KENDAL Isaacs Gym, SATURDAY JuLy 26 OC) ! ) IC) R ! ) | PG St rs ect

Parliamentarians 33-26 °

















SENATOR JEROME FITZGERALD
the big guard

Be



GOLDEN GATES MP Shane Gibson looks for an opening.

.

-Quote
Betty Taylor week-

Journalist / Entrepreneur

“A man is never
satisfied. He is
always looking in
another direction for
something else”

quoteoftheweek@live.com

PASTORS enjoying the win over Members of Parliament. SU

eM



HOLDINGS CO. LT

CHAIRMAN'S REPORT
FOCOL HOLDINGS CO. LTD

CONSOLIDATED BALANCE SHEET
For The Quarter Ended April 30, 2008 (B $000)





. | : , : April 30,2008 April 30, 2007 |
The Directors of FOCOL Holdings Limited ee |





Assets $ 134,338 $.__ 113,850
(FOCOL) are pleased, to present. results ligbilities . S560? 57-795
for the quarter ended April 30, 2008. Net Shareholders' equity 68,731 56,061
income — available = to += common - Total liabilities & shareholders’ equity $__ 134338 $___113,850 |

shareholders for the nine months ended
April 30, 2008 was $9,330,152 compared

to $8,450,912 last year. This represents CONSOLIDATED STATEMENT OF INCOME |





an increase of 10.4%. Earnings per share (B $000)
f 95 is to 27 Is f 9 months ended 9 months ended |
ENS age OIE Oe onet AIS er April 30,2008 April 30,2007. -
the same period last year.
Sale & revenues $ 259,472 $ 197,564 |
FOCOL has been able to maintain Cost of sales (228,272) silt 68820)
consistent earnings in a very difficult Income from operations 31,200 29,044 |
environment. Despite the high cost of .
fuel and other goods and services we . Marketing, administrative and general (18,200) (16,984)
: Depreciation ( 1,694) ( 1,644) |
have managed to increase our Finance cost ( 1,232) (1,157)
earnings. We are also continuing with Other income (expense) : (56)
: long term plans that will improve the Net Income 2 10,082 9,203
efficiency of our distribution network in Plelgtence shote diigencs eet 3782) __{_ 782)
Grand Bahama, New Providence and Net income available to common shareholders $ 9,330 $ 8,45]
the Family Islands.
Basic earnings per share $ 0.27 $ 0.25
Our Directors, management and staff
Dividends per share $ 0.08 $ 0.07

remain committed to seeking every
avenue to contribute to the growth of
FOCOL.

Copies of a full set of the unaudited financial statements can be obtained from Stephen Adderley

(sadderley@focol.com), at the Freeport Oil Company located on Queens Highway, Freeport,
Grand Bahama, Monday through Friday from 8:30 AM TO 5:00 PM.

(hhc a |
Sir Albert J. Miller
Chairman & President

i ey A

Sapper. hae





4
—THE TRIBUNE

Rights



of a husband’s

MUNDAY, JULY 28, 2008, FAUE /

LOCAL NEWS

‘outside’ children to



ome under spotlight



| 6<

In The

se
2258
=

Sd

Li

: of our house-
“holds are run

IN a country where ‘sweet-
hearting’ is considered com-
4aon, many women would be
prised to know that their
asband’s ‘outside’ children
ve more legal rights than
y would like them to have.
“These rights, along with sev-

ibe up for discussion during a
ifree legal clinic on estate plan-
‘ning presented by law firm
lisa Hall and Co tomorrow
6pm. The clinic will take
ce at Living Waters King-
(om Ministries on Warren
eet. :

y. to reach gut, fo othe
men Who mays ‘feel th i

not know their teites
‘In The Bahamas, most: of

_ FNM expresses
sadness at death
of Captain
Ny eas mele

THE Free National
Movement has
expressed sadness at the
passing of Captain

Spencer Rose of Long
Cay, and sent deep con-
dolences to his family.

FNM chairman Sen
Johnley Ferguson
described Capt Rose as
one of those intrepid
Family Island support-
ers of the party who
“kept the Torch burn-
ing” and who would
always be remembered
for his unflinching loyal-
ty to the FNM’s cause.

“Through the years
our party has remained
strong and vibrant
because of the dedica-
tion and unswerving
support of members
such as Capt Rose, and
we in the FNM have
never failed to express
our gratitude and appre-
ciation to them, both in
life and in death,” Sen
Ferguson said.

The body of Capt
Rose will lie in state at
FNM headquarters,
Mackey Street, on Tues-
day, July 29, from 10am °
until 4pm.

At 12.45pm on Tues-
day, FNM leader Prime
Minister Hubert ingra-
ham, will head an
entourage of Cabinet
ministers, parliamentari-
ans, and party officers
and supporters in view-
ing the body, and in tak-
ing part in a memorial
tribute ceremony.

At that time the prime
minister will make
appropriate remarks.

Funeral services for
Capt Rose will take
place in Long Cay ata
later date. 4





?Bahamas most


















our households are run by sin-
gle women,” said Melisa
Thompson Hall, who heads
her own practice from her
downtown Nassau office.
“Those women are single
due to a variety of circum-
stances, including having.a
child outside of wedlock,
divorce, being widowed and
more. Sometimes they feel
they just don’t have any rights
even though they do and we
thought that they should have
the opportunity to hear what
grounds they may have and
ask a few questions as
opposed to paying a huge con-
sultation fee and still not get-
ting. Al the ipformation they



sn BS es Hall, along with
the firm’s s associate attorney
- Damara Dillet, will be: dis-
* cussing a wide range of op:



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MELISA THOMPSON HALL of Melisa Hall and Co will be a key speaker at the firm's free legal clinic tomorrow
at Living Waters Kingdom Ministries.

ics that address the impor-
tance of having a will, know-
ing what steps to take if a
deceased spouse or parent

hasn’t left a will, knowing the’

rights of children born out of
wedlock, and the rights of chil-
dren born outside the mar-
riage.
















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PAGE 8, MONDAY, JULY 28, 2008

THE TRIBUNE





NASSAU, THE BAHAMAS Minister of For- j
eign Affairs (Acting) Tommy Turnquest (far H
left) and Hu Dingxian, ambassador extraor- 5
dinary and plenipotentiary of the People’s
Republic of China (far right), presented four
of the five Bahamian students awarded full
scholarships by the Chinese government
with their scholarship certificates during cer-
emonies held Thursday. The five - Keshandi
Thompson, Najah Plakaris, Blaine Butler,
Kenson Tinker.and Crystal Tinker - brought
the number of Bahamian students receiving
Chinese government scholarships to 19. Pic-
tured (from left) are Minister Turnquest,
Miss Crystal Hanna (Architecture), Miss
Najah Plakaris (Languages), Mr Blaine Butler
(Architecture), Miss Keshandi Thompson
(Medicine) and Ambassador Hu.



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awarded five Bahamian stu-
dents full Chinese government
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bringing the 10-year total since
the Chinese government
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award programme through
the China Scholarship Council
just two years after establish-
ing diplomatic relations with
the Bahamas government in
1997.

Minister of Foreign Affairs
(Acting), Tommy Turnquest
applauded the Chinese gov-
ernment for the “technical
assistance and co-operation” it
had extended to The Bahamas
over the past 11 years.

Mr Turnquest said the gov-
ernment was “particularly
appreciative of this scholar-
ships programme”, which
allows Bahamians to pursue

higher education and prepares .

them for making their neces-
sary contributions to nation
building.

“Since the establishment of
diplomatic relations in 1997,
Bahamian students have pur-

sued higher education at the

bachelor’s and master’s levels
in a range of disciplines from
manufacturing and design of
clothing and apparel, to med-
icine, astrophysics/astronomy
and international business
management and marketing,”
Mr Turnquest added.
“Today’s scholarship awards
will continue that trend. We
are confident that the recipi-
ents will be well prepared to
play their necessary roles in
the further development of
our country,” Mr Turnquest
added. The five students —
Keshandi Thompson, Najah
Plakaris, Blaine.Butler, Ken-
son Tinker and Chrystal Han-
na — will pursue degrees in
medicine, languages, architec-
ture and Asian studies and
diplomacy at some of the lead-
ing universities in China,
among them Southeast Uni-
versity in Nanjing, Beijing
International Studies Univer-
sity, the South China Univer-
sity of Technology in
Guangzhou and the Donghua
University in Shanghai.
“These are renowned key
universities in China which
will provide good conditions
and environments for their

studies,” said Hu Dingxian,
ambassador extraordinary and
plenipotentiary of the People’s
Republic of China.

“The Chinese Government
Scholarships Programmes
have been established to
strengthen mutual under-
standing and friendship
between the Chinese people
and the people of the rest of
the world, and to enhance the
co-operation and exchanges
in the fields of education, sci-
ence and technology, culture,
economics and trade.

“The Bahamian students
study science and technology,
medicine, international trade,
psychology, architecture, and
so on, in China. I hope and
believe that this learning and
training will contribute to the
development of the most pre-
cious human resources, which
would: benefit The Bahamas’
social and economic develop-
ment,” Ambassador Hu
added.

Mr Turnquest told the
young Bahamians that they
will begin studies in China at
“a most opportune time.” He
said the upcoming Beijing
Olympics, which will begin in
less than two weeks, and the
appointment of Elma Camp-
bell as resident ambassador to
China are among the new

_ developments in China.

“As the Bahamas’ first resi-
dent ambassador to China, she
has asked me to assure you
that the doors of the embassy
are open to, and for you. The
ambassador will, at the same
time, be looking to you to por-
tray in China all that is good
about our Bahamas, its peo-
ple, its culture and its tradi-
tions,” Mr Turnquest said.

“T’urge you as well to be

‘good ambassadors for our

Bahamas. Take full advantage
of this opportunity and learn
all that you can. Become flu-
ent in the Chinese language
(as) it is the language of the
fastest growing economy in
the world,” Mz Turnquest
added. :

Revitalisation of Nassau to —
be discussed on ZNS tonight

REVITALISATION of down-
town Nassau will be discussed
during a ZNS television show
tonight.

Tourism Today host Michelle
Malcolm interviews Philip Simon,





















executive director of The
Bahamas Chamber of Commerce
on the City of Nassau Revitalisa-
tion Act. Other interviewees are
businessman Franklyn Wilson
and public relations expert Diane
Phillips.

During the show, Simon
describes the act as another step
towards improving the country’s
tourism product and aesthetic
appeal, not just along Bay Street,
but several blocks to the east and
west of the popular tourist area,
which comprises the city of Nas-
sau.

“Anything that serves to
improve the look and feel of the
heart and soul which is the city
of Nassau, only bodes well for
future investments and the future
of tourism in the country,” Simon
says.

He adds: “I think moving for-
ward we can look to see how this
City of Nassau Revitalisation Act,
in particular works for the city of '
Nassau, and hopefully we can
expand that into the Family
Islands and give them the same
benefits that Nassau has.”

Tourism Today is on ZNS
Channel 11 tonight at 8.30pm.












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.




















onmdas © = oO

s 0

Oooc< fw

cp = Oo

»

THE TRIBUNE





LOCAL NEWS

WHEEL DONE!

Sandals and Beaches Resorts reward ‘green-thinking’ team
members across its Caribbean properties with bicycles







PICTURED receiving-bicycles are Vanria Culmer, Supervisor of.the Year; Competition winners - Clint Higgs, Valdino
Higgs, Gail Rahming, Laverne Smith and Dennis Black, general manager, Robert Keesler, Marion Anderson, Team
Member of the Year; Shawn Thompson, Chairman’s Award; Guest Choice Award, Marcian Cooper; Competition
winners - Glendina Nairn, Shanderia Kemp and Melissa Nichols, environmental manager.

TO recognise top perform-
ing team members and
encourage healthier and more
environmentally-friendly
lifestyles, Sandals and Beach-
es Resorts have rewarded out-
standing and ‘green-thinking’
team members across its 22
Caribbean properties with
bicycles!

Thirteen team members
from Sandals Royal Bahamian
were acknowledged in the
group-wide awards as part of a
‘green’ reward programme,
where over 100 mountain
bikes were presented to staff
at each Sandals and Beaches
resort.

Sandals Royal Bahamian’s
Team Member of the Year,

‘Supervisor of the Year and
the winners of the resort's |
annual Guest Services Award °

‘and Chairman’s Award were

all presented with mountain —
bikes “along with winners, of =
an environmental initiative
held among employees in Nas-
sau.

In addition to existing
‘stars’, team members at San-
dals Royal Bahamian were

challenged to devise energy-

saving measures for both their
individual departments and
the resort as a whole with the
best and most innovative tak-
ing the honours.

Shanderia Kemp of the
front desk was one of the last
team members to submit her
entry for the resort’s environ-
mental challenge and in the
end her submission was one
of the best.

“T was walking past the
notice board when I saw the
flyer explaining the competi-
tion.and J realised I had two
hours to have my answers into
the public relations office. I
immediately collected an entry
form and got to work identi-
fying ways to conserve energy
in our department as well as

cost- ;cutting measures in the.

lobby and storeroom. I am

very happy to have my very |
,.own bicycle which J intend to

use daily for exercise and fun.”

Chief executive officer of
Sandals and Beaches Resorts,
Adam Stewart; said: “We are
always coming up with cre-
ative and meaningful ways to

reward our Sandals and
Beaches stars, and what better

way than with bicycles that.

will help them lead healthier
lifestyles and live greener
lives.”

He also commented that the
bicycles were “a great way to
cope with the rapidly rising
gas prices we’re all faced with
right now. I am delighted that
we can reward excellence,
help our team members and
play our part in protecting the
environment with this one ges-
ture.”

Mr Stewart pointed out that
Sandals and Beaches “have
the best team members a com-
pany could ask for and: I am
tremendously proud of the
fantastic work they do every
day at our resorts across the
Caribbean.” |

Sandals Royal Bahamian
has long been committed to
preserving the natural beauty
of its surroundings and, along
all of Sandals and Beaches
resorts, has been awarded the
much-coveted Green Globe
21 Award for Environmental
Stewardship.

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MONDAY, JULY 28, 2008, PAGE 9

THE GARDEN!

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PAGE 10, MONDAY, JULY 28, 2008

THE TRIBUNE
LOCAL NEWS



CC COSC OEE E EOE ES OEE CEO OEE ESE COE OES

INSIGHT x

For the

stories
behind the
news, read :
Insight on :
Mondays:

.
°

TENDERS FOR

Janitorial & Maintenance
Services

The Bahamas Electricity Corporation invites

Tenders from eligible bidders for Janitoral & Main- |

tenance Services for its following locations:

(1) Administration Building/ Big Pond Complex
(2) Blue Hills Power Station
(3) Clifton Pier Power Station

| Bidders are required to collect packages from the

Corporation’s Administration Office, Blue Hill &
Tucker Roads by contacting Mrs. Delmeta
Seymour, Telephone No. 302- 1158.

: Tenders are to be delivered on or before 4:00 p.m.

28th August, 2008
and addressed as follows:

Mr. Kevin Basden
General Manager -
Bahamas Electricity Corporation —
Blue Hill & Tucker Roads
Nassau, Bahamas.

Marked: Tender No. 675/08
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Marked: Tender No. 676/08
Janitoral & Maintenance Services
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Marked: Tender No. 677/08
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THE TRIBUNE . MONDAY, JULY 28, 2008, PAGE 11

Bahamas Junior Judo team
carries off three medals in
international competition



THE Bahamas’ Junior Judo
team placed fourth in this year’s
US Junior Judo Open by win-
ning three medals - one silver.
and two bronze.

The competition featured
athletes from 26 countries.
Medal winners were Taryn But-
ler (Silver), Samann Pinder
(Bronze) and Cameron Lynch
(Bronze).

The team prepared hard with
special training camps, seminars
and advanced coaching.

“I felt we were ready,” said
Bahamas Judo president D’Ar-
cy Rahming. “However, I con-
cede that this competition was a
lot tougher than last year.” _

Last year the Bahamas won
five medals at the same event.
Judo is an Olympic sport that is
fast growing in the Bahamas
with over 300 practitioners.

Mr Rahming said: “One
extremely bright spot is the fact
that the US has agreed to add
the Bahamas Invitational in
2009 to its point system. What
this means is that in February
we will add to the sport tourism
of our country by hosting some
100 American and Caribbean

families in a Friendship Tour-
nament.” Anyone interested in ©
participating in Judo may con-




SOMETHING TO CELEBRATE: The graduates.
By Sgt Rolean Smith



THE Inmate Education Unit of Her Majesty’s Prison conduct-
ed a graduation ceremony for some 133 inmates in more than 20 dis-
ciplines (technical, vocational and academic courses). The exercise
was held under the theme “Turning Difficulties Into Opportunities.”

National Security*Minister Tommy Turnquest was on hand to
address the inmates, officers, relatives and friends assembled for the
event. —

Minister Turnquest called the graduation ceremony, “Prison
reform in action.” He stated that one of the highest priorities of,
prison reform is to rehabilitate inmates. He further stated that an
important aspect of rehabilitative initiative is to encourage inmates
to think beyond the loss of personal freedom and the constraining
walls of the correctional facility, to the day when they will once
again walk free, and join their families, their communities and
society. ' :

He commended the Inmate Education Co-ordinator, Mrs Anita
Dillet, for the dedication and commitment she has given and con-
tinues to give to the work of the Correctional Institute.

Mr Turnquest also announced the appointment of Mr Lloyd:
Stubbs to the post of co-ordinator for the Inmate Technical and
Vocational Education at the Institute.

The inmates were told that they have begun a journey down a
road of hope and that they should not look back.

Office, Blue Hi
_tacting N
T

General Manager _

Bahamas Electricity Corporatior

Blue Hill & Tucker Roads
Nassau, Bahamas

Marked: Tender No. 672/08
Customs Clearance & Delivery
‘Services to andfrom Docks

Marked: Tender No.673/06
Customs Clearance & Delivery __
Services to and from Airports & Post _

whole o'

tte col





MEDAL winners Taryn Butler, Cameron Lynch and Samann Pinder, with
national coaches D’Arcy Rahming and Neville Munnings.

tact Mr Rahming at the All-star
Family headquarters on Joe
Farrington Road.

Graduation ceremony for some 133 inmates

Mi By EWURABENA APPIAH

For the past eight years
Mediterranean Shipping
Company, one of the world’s
leading global shipping lines,

. has called The Bahamas home
and over time has tranformed the
way that thousands of companies

. throughout the
business. MSC Baharms is a
subsidiary of Mediterranean
Shipping Company SA. a

. privately owned company
which has its roots in Geneva
Switzerland and as of June 2008
has been operating 3% container
vessels with. an intake capacity
of overa million TEUs (Twenty
Equivalent Unit) a year.

When MSC Bahamas began
its services in 2001, they began

- with a staff of only 3, offering
six service options through the
Freeport Container Port with an
annual volume of less than 700

. thousand shipments. General
Manager of MSC Bahamas,
Manuel Ruiz, can personally
atlest to the tremendous growth
of the Baharmin company
“Nowadays” he says, “we have
14 services through Freeport
with a volume of over 1.4 million
movesa year "using the Freeport
Container Port as the major hub
of operation.

In the most recent years
Mediterranean Shipping
Company has also begun
shipping to several new regions
as well. “We have opened new
connections from Freeport to the

Caribbean, and Central America” »

Ruiz says “earlier this year we
officially opened our Nassau
offices, giving us but especially
Bahamians greater access, to over
270 port destinations. This means
they have greater buying power
with greater access to cheaper
markets,” Ruiz noted, ‘plus
consolidating the shipping means
less cost for buyers.”

Ruiz credits the.success of
the company to the expansion of
globalization around the world,
‘the idea is that you can reach
more ports with less vessels, and
decrease the traffic time to ray
destinations. ” He added that ‘the
most economic way to transfer
goods is through ocean transfer
and because of that, MSC has
facilitated growth averaging 30%
annually world wade.”

The successof Mediterranean
Shipping Company has also
translated into success for the
Freeport Container Port which ts
one of Grand Bahama’s largest
employers. ‘The tremendous
growth Mediterranean Shipping
Company has had in the past few
yearshasmmre than augmented the

ee A= = ~ 7m. + eee. ees ot!
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MSC NASSAU ROUTE LOOKING TO EXPAND Pictured atArawak
Cay is the MSC Baharnas, which sails twice a week to Nassau from
Port Everglades, Florida on Monday's and Thursday's. MSC Baha-
mas began its services in Grand Baharna in 2001 and expandto Nas-
sau in late 2007. MISC’s international presence inthe shipping market
means Nassau retailers can now connect with over 270° ports world
wide under one Bill of Lading, saving consumers much needed trans-
shipment costs. MSC is looking into expanding its current route to
three times aweek and has already begun increasing its Nassau staff

to accommodate this need.

outputofecontainers atthe Freeport
Container Port says Ruiz. The
container port directly employs
approximately 860 persons and
indirectly the number is about
200 persons, “he says, “while not
their only client Mediterranean
RT)

“Our new port
expansion into
Nassau gives us

a direct service

to Nassau from
South Florida
twice a week,”
said Alex Paine,
MSC | Nassau
Manager, ‘due
to our expanding
requirements we
are looking into
expanding this
service to three
times a week!”

a ee
Shipping Company is one of the
companys biggest clients and
therefore one of Grand Baharna’s

‘largest contributors. ”

Due to the cornpanies

continued success in Grand.

Baharm and the demand of

the Nassau companies for their .

service, MSC Geneva opted to
expand to Nassau in late 2007.
‘Our new port expansion into
Nassau gives us a direct service
to Nassau from South Honda
twice a week,” said Alex Paine,
MSC Nassau Manager, “due to






in their shipping needs and at the
end of the day cheaper shipping
tates, ”

Faine noted that since thei
official opening in January with
the Prime Minster and a trajonty
ofhis Cabineton the MSC Lirica,

, one of the company’s crise ships,
business has steadily increased.
‘{ think having a mapr camer
calling directly to the Nassau
market has caused an increase in
competition among the shipping
lines commented Paine, “which
should stimulate better customer
service and rates for all—a van,
win for consumers.” We have
seen this increase translate. into
rapid growth for us and our
skeleton staff of 3 has increased
to nine at the end of July 2008.

_ MSC has not only had great
business success over the: past
several years buthas joined thelist
of corporate’ sponsors donating to
keycauses throughoutthecountry
“We contribute every year to the
Grand Baharna Children’s Home.
and we contribute through Rotary
to several other charities as well,
We're not doing it to get our).
lames in the paper, but because)
they're needed, ” says Ruiz. “Ath
the end of the day, we are part):
of the community, "he says. “the!
community is built and developeds.
by the people that live in it, so itis’:
vitally important to us to continue,
to contribute both froma business)”
and a philanthropic standpoint” |

With all this in mind Ruiz}?
ended that “MSC is here to stay, |
we have been embraced by The |.
Bahamas and we look forward to |
our cotitinued growth here. When |
Icame herin 2001 we had 3 staff, |
now we have fifty tao with a
growing need for more, I think |
you can safely say we ate here to,
stay!”



our expanding requirements we
ate looking into expanding this
service to three times a week!”
Because of MSC’s huge
intemational presence if
the shipping market Nassau
retailers can now connect with
over 270 ports world wide,
and Mediterranean Shipping
Company is the only company
in the Nassim market that can
ship in the five (5) continents
under one Bill of Lading, saving
the consumer much needed
transshipment costs. “Despite
the fact that we are headed into
a global recession” noted Paine,
“ Mediterranean Shipping



Cormpany has decided to keep
investing in The Bahamas and
especially in the Nassau market,
which gives clients more choices









MSC OFFERS 270 PORTS TO BAHAMIANS Just mak
ing it under the San Francisco bridge is one of MSC’s many ship *
ping vessels. MSC currently ships to over 270 port destinations world |
wide, “for Baharnians this means they have greater buying power.
with greater access to cheaper markets,” says General Manager
of MSC Bahamas, Manuel Ruiz, he added that “consolidating the’
shipping means less cost for buyers.” Right now the rnost eCOnorn &
ic way to transfer goods is through ocean transfer and because of cs
that, MISC has facilitated growth averaging 30% annually world wide. *

FN
a
4

CD

iumes





PAGE 12, MONDAY, JULY 28, 2008

THE TRIBUNE



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LOCAL NEWS



D-Day looms
for developers

FROM page one

specific information regarding
Ginn’s finances, he could not
speculate if the company would
make the restructured payment
date.

“I’m aware of that (missed
payment)..:but I do not have
any information about anything
related to Ginn’s financial situ-
ation,” Mr Laing said yester-
day. He said he was not aware
if Ginn developers have been

* in contact with the prime min-

ister or officials at the Bahamas
Investment Authority in light
of the possible default.

Ginn Sur Mer sits on 1,957
acres of oceanfront property in
West End. The planned 4,400
condominium and hotel units
centred on a 20-storey tower
with 1,800 single family resi-
dence sites were. expected to
inject hundreds of millions of
dollars into Grand Bahama’s

sluggish economy.

Mr Laing said he still hopes
the development moves ahead.

“The reality is, if you have an
economic activity that is pro-
posed for an island - especially
an island with economic chal-
lenges like Grand Bahama - it’s
helpful for those projects to go
forward. Ginn being what it is,
and as sizeable as it is, it would
be important. We would love
for every single project that’s
slated for Grand Bahama to
move forward,” said Mr Laing.

According to published
reports, after developers missed
a June 30 loan payment they
were granted a 30-day fore-

bearance agreement which

allows the company to keep the
property while negotiating a
new payment plan.
Switzerland-based Credit
Suisse, and other financiers,
agreed to.delay foreclosure until
July 31 to allow the parties to
work out a restructured pay-

Hope from ashes of despair

-FROM page one

Last night an Abaco source

told The Tribune: “Chad is a |

very progressive, intelligent man
who does what he says he’s
going to do.

“T expect him to fulfil his
hopes. He is well-motivated and
when he sets his mind on some-
thing, he does it.”

Maxwell’s went up in flames
last week, causing massive dis-
ruption for Abaco shoppers.

An investigation into the

cause of the blaze has now been:

completed, but the results will

not be known for some days.
Locals do not suspect sabo-

tage or arson, but feel it is more

of homes, pie major
‘e-wiring project to her
Do-It-Yourself home repair,





PYF sets the standard for
providing quality tools, supplies,
lumber, building materials and

likely that a power problem
caused the fire.

Maxwell’s, which sold food
and dry goods, was described
as a “very popular” store.

But its destruction will not
mean lost jobs because Mr
Sawyer is diverting staff to his
Price Right store, which is also
in Marsh Harbour.

“It is a remarkable feat to be
able to keep everyone on,” said
a local source. “The fire came as
a big shock to everyone, but it’s
reassuring to know that at least

‘the employees will not suffer.”

Maxwell's was the fourth gro-
cery store to burn down in
Marsh Harbour since the late
1970s.

expertise, to keep. your project

On-Time and
On-Budget!

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188 Wulff Road
P.©. Box $S-6366, Nassau, Bahamas
Phone (242) 323-3973 or 325-3976

ment plan, the international
press reported. The Ginn com-
pany could not meet principal
and interest payments-on the
loan due to the US real estate
market slump.

In February, Ginn Resorts
president and CEO Bobby
Ginn said the resort’s core facil-
ity would be up and running by
2013, The Freeport News report-
ed. Development on the $4.9
billion resort began in Decem-
ber, 2005. Land clearing of
almost 2,000 acres is 70 per cent
complete, according to Ginn
Sur Mer’s website.

If Ginn fails to meet its
restructured loan payment on
Thursday, it faces possible
default on the West End resort

_ as well as a golf resort in North

Carolina, and two resorts in
Florida. Attempts to secure a
comment from the developers
of Ginn Sur Mer were unsuc-
cessful up to press time last
night.

EE iia

FORMER South Abaco
MP Robert Sweeting was hon-
-oured at a special dinner on
Saturday night. FNM col-
leagues - including Prime Min-

ister Hubert Ingraham and
several Cabinet ministers -
were at the Abaco Beach
Resort to pay tribute to Mr
Sweeting. Several prominent
party names, including Tom-
my Turnquest, Michael Bar-
nett, Alvin Smith and Johnley
Ferguson, congratulated the
ex-MP for serving three par-
liamentary terms. Also among
guests was Edison Key, who
retained South Abaco for the
FNM at last year’s general
election.






























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Saturdays 7:00am - 3:00pm

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THE TRIBUNE



= 1amas
ae ince

half million STOW 470% 1 1

tourists’

FROM page one

ud he on tourism refiant
arp aran

Romeu predicts that Cuba will
be flooded with eager Americans
and this surge would likely drive
tourism in the now communist
country to full capacity, leaving
the Bahamas and ne re ‘ountrics
with Cuba's “overtle

“As US vi een s overwhelm
capacity, visitors currently vaca-
tioning in Cuba would have to be
redirected toward neighbouring
countries. Henee. while short-run
constramts would be binding in
Cuba, the uld enjoy a
period of sustained demand,” the
report said.

The change would. according
to Romeu, cause some countries
to potentially lose American
‘tourists but gain new non-US
tourists

“The results suggest that total
Caribbean arrivals jwould increase
‘by approximately 2-11 per cent;
hence, as costs ohey fundamentals
in lieu of trade barriers, strong
tourism growth would wait some
Caribbean destinations while oth-
ers would potentially face long-
term declines.” the report said.

However, Cuba is not expected
to lose its non-US tourists even
while preparing to reectve US
arrivals.

The timing and pace of the
opening: of the Cuban tourism
market is unknown and would
rely on several geo-political con-
siderations but it’s not a question
of if, but when, it will happen.
Statistics compiled .by. the
Caribbean Tourism Organisation
report that tn 2006, Cuba and the
Bahamas had asroom inventory of
45,270 and 14,929 respectively.

These figures represent a
downturn for the Bahamas, which
previously saw a peak in room
inventory at 15,500 units.

Local tourism experts said that
these. figures’ represented an
“alarming Joss” in market share
for the Bahamas

Frank Conmiito. executive vice-
president of the Bahamas Hotel

effect wot

countrics in the ¢






Fegs1on WO

Association. has said-that he
believes that Cuba’s tourism
incline.- wich has burgeoned.

considerably without the US mar-
ket — should be a wake-up call to
Bahamians.
“Ultimately. we've got to con-
stantly remind ourse Ives that ‘the
competition is growing, that
Cuba's tourism industry — despite
the US cmbargo - continues to
grow in that island nation, “And
we must be ever-mindful of:con-
' tinuing to improve our product
and our offering as a destination
and recognising that the compe-
tition continues to grow and-Cuba
could ver¥ well be an even more
formidable campetitor tn the

future.” he said ,

fed els eer ae
De

Caribbean en



FROM page :
pee “It is clear that

the time for

concrete action
with achievable
targets is now.”

Ambassador Albert
Ramdin told delegates attend-
ing the Caribbean Regional
Sustainable Energy seminar
that. the high cost of oil was
imposing a major financial
burden.

“For example in 2004, the
Caribbean region imported
about 163 million barrels of
oil at a cost of $6.5 million. At
current crude oil rates, the
same amount of petroleum
will cost our countries more
than $24 billion if we take into
account growth in energy
demand. In other words,
energy costs have risen by 370
per cent in Jess than four
years,” he pointed out.

Mr Ramadin said that at this
rate, many countries. will
spend almost all their export



Albert Ramdin

earnings from commoditics
such as bananas, sugar and
coffee, and from services such
as tourism, to purchase petro-
leum products.

“Indeed, it can be argued

had not developed service
products such as tourism and
offshore financial servicts,
they would not be able to pay
their energy bills. This sce-
nario strikes at the heart of

Stolen meat litters street
FROM page one

male occupants speeding through the area shortly before police
arrived. Police are uncertain what the two men had intended to do
with more than 200 pounds of frozen meat.

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aw

that if Caribbean countries -

five

the security of the region and
demands immediate action.”
he added.

Mr Ramdin said there was
no doubt that the situation
could have far-reaching social,
economic, financial and even
political consequences if the
issue of energy security was
not addressed swiftly and deci-
sively.

“Ttis clear that the time for
concrete action with achiev-
able targets is now,” he said.

The situation was particu-
larly grim when taken from
an environmental perspective,



he added, as consumption of

fossil fuel was destroying the
region’s habitat at an alarming
rate,

Today, the Caribbean
depends on fossil fucls to sup-
ply 93 per cent of its energy
needs. This ts clearly unsus-
tainable. We must now engage

2

Firm’s Receptionist.

a pleasant attitude.

correspondence.

The suecesstul :
and benefits.

interes

pat any certificates

PEEPLES Saye



all applicants for



“in thee

TON

earned,

MONDAY, JULY 28, 2008, PAGE 13



years

in a process of creative think-
ing that will lead to a change
energy consumption
ethic of Caribbean countries
and peoples. And here again,
| urge Caribbean nations’
politicians, legislatures, poli-
cymakers, private sector and
civil society to act with a sense
of stewardship and urgency,”
Mr Ramdin said.

“In my view it is not only
governments and elected offi-
cials that are responsible for
ensuring that new directions
are developed, it is a respon-
sibility for all in society.”

He said his organisation was
working with Caribbean states
to support the development
of renewable energy on a

regional basis through the

Global Sustainable Energy
Island Initiative (GSEI1),
‘which the Bahamas ‘is to be
part of..

| SWEETING | O'BRIEN
DUNSEL & ATTORNEYS-AT-LAW

Position of Receptionist

GLINTON | SWEETING | O’BRIEN seeks an energetic candidate to serve as the

Phe applicant should have strong communication skills, an excellent telephone yoice and
The applicant should be able to handle and distribute all calls in a
professional and client-friendly manner and receive/distribute all incoming and outgoing
In addition, the applicant must be computer literate and willing to assist
with other areas of work when necessary. .

ipplicant will be offered an attractive and competitive package of salary

ted persons should fax their resumes to our offices at 328.8008, along with copies
cor forward the same to Mrs.
on: Albapplications wilk be tr eated as confidential. .While we thank
their interest, we will only contact those oe are short listed.









Serial

rapist
FROM page one

police invesigations.

The deviant is said to be a bi-
sexual serial rapist who has tar-
geted, stalked and raped three
persons at gunpoint in their own
homes. Unconfirmed reports said
the fiend raped three persons on
the island three weeks ago — two
women and a 14-year-old boy.

Police said the rapist strikes in
the early morning hours, entering
the homes of unsuspecting vic-
tims wearing gloves.and a mask.
The perpetrator was described
as about 5ft 9ins to 5ft 10ins tall,
of slim build, wearing dark
clothing and armed with a hand-
gun and/or knife.

He reportedly covers his vic-
tims with a cloth and uses a con-
dom during sexual intercourse.

After forcing himself on vic-
tims at gunpoint or knifepoint,
he makes his victims shower to
destroy any physical evidence.

Residents on the island are
being warned to secure their
homes, particularly in the early
morning and to call police at
911/919 if they see or hear any-
thing suspicious.

Dominique Glinton at



Aue)
Mercedes
Benz
Was $22,000

NOW $21,000

1998
NTE Ze Ta)
Atlas
Was $10,700

Gunmetal
Was $7,500

MeN LY!

1998
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Was $9,900

eR Uy

@

ib aL3
Mazda
Roadster »
Was $8,900

a NOW $7,900



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PAGE 14, MONDAY, JULY 28, 2008

LOCAL NEWS

THE TRIBUNE



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The Chavez effect: a ba debe

@ By Sir Ronald Sanders

HERE is no question
that the two oil-relat-
ed initiatives launched by
Venezuelan President Hugo
Chavez — Petro Caribe and

- ALBA —are life belts to many

Caribbean countries, notably.
Cuba and Jamaica.

However, Chavez’s continu-

ation in government is not guar-
anteed and when he goes it is

very likely that thé Vénezue-

lan largesse will go with him
leaving many. . Caribbean
economies in grave au.

Bahamas Bus & Truck Co., Ltd,

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Phone:322-1722 + Fax: 926-7452

Large Shipment
of ie
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EARLE
ALEXANDER
BOWLEG, 72

of Richard Court’s off |

Farrington Road will
be held on
Wednesday, July
30th, 11:00 a.m. at St.

Agnes Anglican \

Church, Blue Hill



Bethel Brothers Morticians |
Telephone: 322-4433, 326-7030
‘Nassau Street P.Q.Box eS

aU See Seed Ze

Road. Archdeacon I. Ranfurly Brown, assisted
by Fr. Bernard Been, Archdeacon E. Etienne
E. Bowleg and Canon Warren Rolle will

| officiate. Interment will follow in the St. Agnes
Cemetery, Nassau Street.

He is survived by his wife, Castella Bowleg;

children, Patrice and William Hall, Marcian
Bowleg, Toni and Decarlo McPhee and Michael
Bowleg; grandchildren, Racquel and Ethan
Hall and Dylan McPhee; he was pre-deceased
by his parents and siblings, Winston, Hugh

Bowleg and Beryl Seymour;. other siblings’)

include, Coral and Van Bonimy, Archdeacon
Etienne and Cheryl Bowleg, Leslie and Paula
Bowleg, Derek and Fern Bowleg, Thelma and
Canon Warren Rolle, Stephanie Bowleg-
McKenzie; uncle, Alfred King; in-laws,
Kenneth Seymour, Carol Bowleg, Ludella
Sands, Thelma Pinder, Cleophas and Vanria
Gibson, Charles Gibson, Edith and Oscar
Thompson and a host of other relatives and
friends too numerous to mention.

Friends may pay their last respects at Bethel

Brothers Morticians,

#44 Nassau Street on

Tuesday from 10:00 a.m. to 6:00 p.m. and on
Wednesday at the church from 10:00 a.m. until

service time.

Central
Caribbean countries against the
. United States which he calls

THA, ETE

.. future: - ust

Since 2005 when the Petro

' Caribe arrangement was -

. launched, Venezuela is report-.

| .ed to have financed $2 billion or
: 43. per cent of the 59 million.





Already opposition groups

“in Venezuela have indicated

that they regard Petro Caribe as
“bribe diplomacy” — an attempt
by. Chavez to win the support.of
American | and

“the evil empire.” They have

also argued that the money:

Chavez is lending to. the Petro _ 1

Caribe countries on very con-

cessionary terms could be spent.
on projects in Venezuela and. «. Fe
invested for the CONALEY: Ss. ie

barrels of oil it has sent to

- Caribbean and Central Ameri- :
- Can-countries..

‘Cuba is the biggest benefi-

-ciary, followed by Jamaica, the -
. Dominican Republic ‘and

Nicaragua, but smaller

'.Caribbean countries such as

-. Antigua and Barbuda and |
‘Dominica have been recipients -

“» too. St Lucia, which had joined
Barbados, Trinidad and Toba- -

' go-and the Bahamas, in stand-

_ New Shipments Anivedy

| _ of. unprecedented oil prices.

ing aloof from Petro ‘Caribe, is
now: negotiating terms in light

Lifeline

: Under the Petro Caribe.

Agreement, 86,000 barrels of
oil per day has been shipped to

. ‘the signatory states other than
..Cuba. Cuba gets a separate

lion’s share of some 70; 000 bar-

_relsa day.

With: oil prices at US$139

- per barrel, the initiative is a life
line to governments that would

’- otherwise be drowning. Up to

‘two weeks ago, they paid for

half of the oil imported from

' Venezuela in 90 days while the

payment for the other half was
converted to a 25 year loan at a

low interest rate — 1 or 2 per
‘cent.

Professor Nome Girvan
points out that Petro Caribe
funding to the Caribbean now.

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Sir Ronald Sanders

-exceeds both EU and USAID

funding by a wide margin. Petro

‘Caribe credits to importing
countries from June 2005 to
-December 2007 amounted to
- $1.17 billion and are expected
~ to reach $4.5 billion by 2010.

. Only remittances from their
Diaspora now exceed Petro
Caribe funding to the signatory
states. In 2007, Latin America
and the Caribbean countries
received $66.5 billion in remit-

-tances from the US, Europe

and Japan — more than they
received from Foreign Direct
Investment and Official Devel-

- opment Assistance combined.

'.Chavez announced two
weeks ago that once the price
for.a barrel of oil exceeds $100
(which it has for some time
now), only 40 per cent will
require immediate payment

and 60 per cent will be con-

verted to the 25 year loan. But,
while the arrangement eases
the. strain on the foreign
exchange = earnings ‘of
Caribbean countries, it also
increases their debt significant-
ly to Venezuela.

_.. Their capacity to repay that
debt in the troubling economic
circumstances in which they
now find themselves is very
doubtful.

Their terms of trade inter-
nationally have worsened as
many of them have lost preter-

ential access to, the European









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Union (EU) market for their
traditional exports, bananas and
sugar. The recent Economic
Partnership Agreement (EPA)
which the Caribbean countries
(except Cuba) have signed with
the EU will also deprive them
of revenues from tariffs on EU
imports that they are required
to forego.

So, the Petro Caribe agree-
ment, in so far as it provides
Caribbean countries with the
opportunity to defer payments
for at least half of the oil they
are consuming, is vital to the
foreign exchange position, if
not survival, of governments.

At the same time, it is
increasing their debt. And, 14
Caribbean countries were
already among the 30 most
indebted nations per capita in
the world, before Petro Caribe.

An indication of the diffi-
culty these countries face in
finding money to service debt
and meet funding obligations,
other than the provision of
goods and services in their local
communities is the fact that
none of them has so far con-
tributed to a Petro Caribe Fund
for social development projects
that Chavez initiated.

Reform

The deal was that Venezuela
would start off the fund with
$50 million, and all the Petro
Caribe countries would con-
tribute. Two weeks ago, the
Jamaican Prime Minister,
Bruce Golding, announced that
his government would shortly
contribute $5 million, having
had 12 projects considered for
financing by the Fund. There
has been no indication from
any other government that they
will — or could —- make any con-
tribution.

In the meantime, conditions
for Chavez within Venezuela
are not advantageous. Consti-
tutional reform proposals, that
he tried to push through last
December to give himself
greater powers, failed. On
November 23, Venezuela will
hold regional and municipal
elections to elect:state gover-
nors in 22 of its 23 federal
states, 219 members of: aOR,
al parliaments, 332 ma are
city thaydrs, and 13 city"Goun-
cillors. Keen Venezuelan
observers say these elections
will be the most.decisive since
Chavez came to power in 1999.

If these elections result ina
further weakening of Chavez’s

presidency, Caribbean and -

Central American countries
that are now lining up to drink
at the font of his unique oil poli-

eae RE a oS a |
for the Caribbean





Sergei Grits/AP Photo

VENEZUELAN PRESIDENT Hugo Chavez speaks to the media shortly on
arrival at the airport in Minsk an Wednesday during his one-day visit in

Belarus.

cies would be well advised to .

start looking for alternatives to
‘the Venezuelan dependency
that now exists.

But the global community,
too, particularly the United
States, Canada and the EU
should be worrying about the
capacity of Central American
and Caribbean countries to
cope if the Chavez life belt is

cut. They too should be devis- '

ing means to help these vulner-
able countries, or the conse-
quences will arrive at their

doorstep in refugees, illegal :

CONGRATULATIONS

Cameron Deion Moss









On being named “Valedictorian” of the Class of 2008
of Galilee College and obtaining your

Associates ass in Law and Criminal Justice

From your mom and Dad, Calise and Ricardo.
Barry, and sister Rikki Barry. We Lov you.

Keep striving to achieve your jest
just the beginning, as God has so much 1 more
in store for you.

immigration, increased drug
trafficking and the need for sig-
nificant financial intervention
to stabilise economies severely
injured by the battering of high
oil prices.

(This commentary is an
abridged version of a speech at
the Royal Commonwealth Soci-
ety in London on July 21st)

Responses to: ronald-
sanders29@hotmail.com to:ronaldsanders29@hotmail.co
m>





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DR. COLLEEN FITZCHARLES RETURNS HOME AS
THE FIRST BAHAMIAN FEMALE SURGEON AND
THE FIRST BAHAMIAN BORN PLASTIC SURGEON

Dr. Colleen Fitzcharles- Bowe once again walks the halls of the
Princess Margaret Hospital (PMH), this time practicing as a
Canadian trained Hand, Reconstructive and Cosmetic Surgeon.
~ This area of specialty includes breast reduction and reconstruc-
tion, hand trauma and reconstruction, acute and chronic burn
surgery, facial trauma, cosmetic and reconstructive ‘surgery. as
well as pediatric plastic SUrBey,

Beginning her early education: at ‘Sunt ‘Thomas Moore Primary
School, Dr. Fitzcharles then went on to complete her junior
level education at Bishop Leonard Junior High School. Her
senior high school years where spent at the Government High
School where she passed her General Certificate of Education —
AGERE, in a Eoglist Art ane the Sciences. ‘ SER
In 1984 she entered ‘Phe: Piorida Memorial Collese EMO
where she obtained her Bachelor of Science degree in Biology,
“graduating Magna Cum Laude in 1988. While at FMC she
served as President of the United Negro College Fund
Association, and was the recipient of the “Most Outstanding
Women of America” award. In 1990, she pursued her tertiary
level education at The University « of The West Indies where she :
“studied medicine, and it is here that she met her husband Dr,
Dane Bowe. Earning her medical degree in 1995, Dr. Fitzcharles
began. her internship at the Princess Margaret Hospital and
soon became a Senior House Officer in the Department of
Surgery. In July of 2002 she was given an In-Service Award by
The Public Hospital Authority after she attained one of five
positions at Dalhousie University General Surgery training
program in Canada. Two years later, she transferred into one of ©
two positions in’ The Department of Plastic, Reconstructive
and Hand SUEBCHY, at the same institution. oe



Pes

















At Dalhousie University ie young surgeon in training held the
position of Chief Resident and medical student lecturer. She
was required also to ‘present research papers at Canadian
medical gatherings and to publish. them in, The Canadian
Journal of Plastic Surgery, and the International Journal called
To her credit, Dr. Fitzcharles has also completed
additional . courses in’ facial trauma, hand trauma, and
microvascular free tissue transfer for facial reconstruction.

In May af 2006, Dr. Fitzcharles was fortunate to join the
“Operation Smile” team as a junior surgeon on their mission to
Vietnam. Under the leadership of Dr. Ken Wilson, Dr.
Fitzcharles was able to perform repairs in cleft lip and palates,
and burn reconstruction. This she deems as her most valuable
and rewarding experience. Dr. Fitzcharles’ studies concluded
with her successfully passing her Royal College Examinations in
Plastic Surgery which then earned her the title Fellow Of The
Royal College Of Surgeons-Canada (FRCSC)

on May 14, 2008.

Dr. Fitzcharles would like to thank her husband, Dr. Dane Bowe
who is an Orthopaedic Surgeon at the PMH, her family who has
stood by her throughout her career- Lloyd and Vere Fitzcharles
(parents), Lisa, Simone and Mario Fitzcharles (siblings), Doreen
and Kevin Marche (parents-in- law), Darron Bowe (brother-in-
law), Flossie Seymour, Bria Seymour and Barry Seymour. Dr.
Fitzcharles would also like to thank Professor Renn Holness,
Dr. Robin Roberts, Dr. Duane Sands, Dr. Locksley Munroe, Dr.
Williamson Chea, Dr. Geoffrey Pennerman, Dr. Glen Beneby,
Dr. Patrick Whitfield and Dr. Charles Diggis who have been
instrumental in her career. She is grateful also to her mentors
in Canada, Dr. Winston Parkhill, Professor Steve Morris, Dr.
Ken Wilson and Dr. Jason Williams. To all of her family,
friends, nursing colleagues and medical personnel who have
vee her eae her studies, she says “Phank you.”

PAGE 16, MONDAY, JULY 28, 2008



Drive [t!, Drag It!,



THE TRIBUNE





ACOLYTES bear-the body of the late Levi Gibson, 94, well respected businessman, real estate
Ne and UNOS into St Matthew’s Anglican Church on Friday.







Se de ae os 3 ee : é :
FOX HILL MP FRED MITCHELL, godson and confidante of Levi Gibson, pays tribute during
Friday’s service. “He was a kind man not one given to ceremony or excess. He was an impor-
tant and powerful man but not one to boast of, to vaunt himself,” he said.



PICTURED from left to right: Pat Sweeting, Thelma Gibson, ¢ PiaHBS Gibson, Vanessa Sweet-
ing Rosenberg. and Phillip Sweet rn 4s sp cd

RPSL BAILLIE ISERIES IER ELIS SEEN GED PLE LDR LEER ELISE SSE EEN BEETS

Pull it!, Push it!

#





SRE LER ELL LILES LYRE BLE ELLE ESSER ESE SIEL SLE LBEOS NEESER GESIEERER EPL BBE LESSEN ILEBEE EDEL SIRES LIA EEE

IONE

EVEN IF 1T DOESNT MOVE
WEWILLTRADEITIN. —

AOE Re RARE et





THE TRIBUNE MONDAY, JULY 28, 2008, PAGE 17

THE FUNERAL OF LEVI GIBSON













PICTURED at the
front is Governor
General Arthur D.
Hanna. In the pew
immediately behind
him are (left to right)
Charles Gibson, Avis
Outten, Charlisa Gib-
son, Kim Gibson and
Dwayne Gibson.



yr ad







PICTURED from left to right: Claudius Burrows Fdmund Knowles, Henderson Burrows, David Fawkes and perpen fron Cre Pye Baad fe teaannes Bae” .

; ( pepe : Ai es PICTURED from left to right: former Member of Parlimanet Sylvia Scrivens, Leader of the Government in the House

ao They are members of the Long Island Association, of which Levi Gibson had been a lifetime Dr. B J Nottage, Senator Alison Maynard, Max Gibson, Fred: Mitchell and the President of the Senate. Lyn
_ os as 2 ace Holowesko. bead






AW oe,

ial Hilton.
, | TEN lake oe

PICTURED from lett to right, front row: George Cox, his wife Setella, Lilith Adderley, Paul Adderley; back row:

Harry B. Sands, Olwen Sands, Peter Christie and Godfrey Kelly. Behind them are Tammy Dean, Iris Dean and

Mavis Adderley, wife of the late Dr. Francis Adderley.






5 a ae

oe ingle erersi bu Sribeteng)
CLEOPHAS |
ADDERLEY,

head of the

National Youth J*
Choir, giving a
solo perfor-
mance at Fri-
day’s service.

i Ss 6 ( rit rat jan
£3} I

: *lnehu | eo) Fall rier brealetast

ee Pree - Hahamian atari anls

yeCireh ja eae 4th, 2008



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LONGTIME FRIEND of Levi Gibson
and former Member of Parliament
of St. Agnes constituency Bruce
Braynen.

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PAGE 18, MONDAY, JULY 28, 2008 | 7 THE TRIBUNE

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THE TRIBUNE MONDAY, JULY 28, 2008, PAGE 19

. LOCAL NEWS | |

A PRIVATE security
guard passes by a
painted blast wall in
Baghdad, Iraq, Fri-
day, July 25, 2008.
The art ornaments
life with murals of
soothing landscapes
and historical
heroes covering the
blast walls that are
now as much a part





Baghdad muralists
resist push for

sectarian themes |















of Baghdad’s
cityscape as‘date
palms and desert
dust.

AP Photos



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murals of soothing landscapes mism. NEW PROVIDENCE
and historical heroes covering It’s-a bit like the Baghdad pees
the blast walls that aré now as Se sar ies = of 7 in
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But fully rising above Iraq’s sight to neighborhood councils -
sectarian Section: has ioued that began suggesting sectarian FIRST CLASS TRAVEL
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Many members in the found- Many of the original artists | WN, Phone: (242) 322-7127
ing group of artists are putting pat fengiee to soe part Local . 2 SEs
down their brushes to protest abblers have often taken up In
requests from neighborhood _ the slack with less refined — DRIVE iN STYLE: INNOVATIVE TRAVEL
councils to depict politically ae ee qth to ; Phone: (242) 325-0042
charged sectarian themes such _ either Sunni or Shiite roots. aN oa
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Shiite enclaves after years of “This is the year of recon- Flat Panel Televisions Phone: (242) 326-0283
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PAGE 20, MONDAY, JULY 28, 2008

THE TRIBUNE



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Lionel Cironneau/AP Photo

IN THIS May 31, 2008 file photo, a view of Angelina Jolie and Brad Pitt’s Miraval property in Cor-
rens, France, is seen. French police say camouflaged paparazzi who managed to get onto the

grounds of Angelina Jolie and Brad Pitt’s chateau in southern France on Thursday fought with the
Hollywood couple’s guards.

Police: Paparazzi, quarts
fight at Jolie chateau

PARIS

It sounds like a scene from
“Fight Club.”

French.police say camouflaged
paparazzi who managed to get
onto the grounds of Angelina
Jolie and Brad Pitt’s chateau in
southern France on Thursday
fought with the Hollywood cou-
ple’s guards. Both the paparazzi
and the Jolie-Pitt’s head of secu-
rity confirmed the confrontation
but gave widely different ver-
sions of events, according to the
Associated Press.

Freelance photographer Luc
Goursolas said he broke a
guard’s finger ‘and bit another

until he bled, and that they hit —

him with a walkie-talkie,
punched and kicked him, leav-
ing a head wound that required
three stitches.

“T was pouring blood. I threw
myself at them, put blood all over
them, and told them that I had
HIV so they would stop hitting

’

me,” Goursolas told The Asso-
ciated Press on Friday.

Tony Webb, head of security
at the Miraval estate, said Gour-
solas went “berserk” without
provocation and denied that his
guards punched the photogra-
pher. He said Jolie and Pitt may
be forced to move if their priva-
cy is not respected, and that the
couple feels besieged. He said
local police are not taking the
problem seriously enough.

“If they get invasion of their
privacy like this then they would
have no option, and they would
have to go somewhere where the
laws are upheld a bit better,”
Webb told the AP.

“It’s just not fair, they are in
their own property and you’ve
got him (Goursolas) and there
could be another dozen out there
that we can’t find”. on the 1,235-
acre property, he said. “They are
just a couple trying, ta.bring up
their young family.”

Goursolas said he wasn’t on



‘the property but in woods near-

by where the guards, on quad
bikes, found him. “The forest
belongs to everyone,” he said,
adding that he walked five hours
to get there. “I wasn’t in their
garden.”

/ He said he didn’t tik any
photos. The colleague who was
with him, camerawoman Mari-
anne Saint-Arroman, said she
didn’t take any video. She con-
firmed they were wearing khaki
and camouflage to avoid being
seen in the woods. “We, weren’t
going to wear a red sweater,” she
said.

Webb, however, said the
paparazzi were on the property,
about 600 yards from the house,
on a wooded hill from where
Webb suspects that previous
shots were taken of Jolie and Pitt
in their garden with their chil-
dren. He said Goursolas had also
camouflaged his equipment and
that he was “there for a good 5
ee

Chel






URS












Poland says no to DNA

TU SPOCZYWA SERCE
FRYDERYKA.

testing of Chopin's heart

@ WARSAW, Poland

LIKE A religious relic, the
heart of composer Frederic
Chopin rests in a Warsaw
church, untouched since it was
preserved in alcohol after his
death in 1849 at age 39, accord-
ing to the Associated Press.

And that’s how the Polish
government wants to keep it.

Scientists want to remove the
heart for DNA tests to see if
Chopin actually died from cystic
fibrosis and not tuberculosis as
his death certificate stated. But
the government says that’s not a
good reason to disturb the
remains of a revered native son.

The heart lies in a jar sealed
inside a pillar at Warsaw’s Holy
Cross Church — and the only
time it has been removed was
for safekeeping during World
War II.

CAUSE OF DEATH

Before it was returned in 1951,

a doctor examined the heart and
found it perfectly preserved in
an alcohol that many think is
cognac. Chopin died in France,
where his body is buried, but he
asked that his heart be sent to his
‘homeland. '

Cystic fibrosis, an incurable

genetic disease, was not discov-
ered until many decades after
Chopin’s death, and the scien-

tists who want to examine the.

heart say many of his symptoms
match that illness, including res-
piratory infections, recurrent
fevers, delayed puberty and
infertility.

A spokeswoman for the Cul-
ture Ministry, Iwona
Radziszewska, told The Associ-
ated Press on Thursday that min-
istry officials consulted experts
and decided that “this was nei-
ther the time to give approval,
nor was it justified by the poten-
tial knowledge to be gained.”

One of the experts consulted,
the head of the National Fred-
eric Chopin Institute in Warsaw,
Grzegorz Michalski, argued the
scientists failed to demonstrate
that they had sufficient exper-
tise carrying out such DNA tests
or that the chances of success
were high.

Master

wee

Technician

Scientists want to

verify cause of death |

He said the “dominant view”
of Chopin experts *is that the
proposed research is going to
serve first and foremost to satis-
fy the curiosity of the project's
authors,” while offering no “new
knowledge that would have a
meaningful impact on the assess-
ment of the figure and work of
Chopin.” :

One of the scientists seeking
to do the tests, geneticist Michal
Witt, acknowledged that DNA
testing might not prove whether
Chopin was afflicted with cystic
fibrosis or not.

Part of the uncertainty, he
said, comes from not knowing
what condition the heart is in

after so many years in alcohol.
But he said his team was made
up of experts, including foren-
sic molecular biologist Tadeusz
Dobosz, fully capable of carrying
out the study.

Witt believes authorities
rejected the testing because of
the relic-like status of the heart
of Chopin, the musical genius
claimed as one of Poland’s great-
est treasures.

“[’m sure that played a major
role, and it’s understandable,”
Witt said.

Chopin was born in 1810 in
Zelazowa Wola, a village near
Warsaw, to a Polish mother and
French father. —

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THE HEART of Polish-
born composer Fred-
eric Chopin rests in
the Church of the Holy
Cross, in Warsaw,
Poland, on Thursday
July 24, 2008. The
Polish government
has rejected a request
by scientists to run
DNA tests on the
heart. They had hoped
to test their belief that
the musical genius

,| might have suffered
and died from cystic ©
fibrosis, and not of
tuberculosis, as his
death certificate says.

Alik Keplicz/AP Photo

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IN THIS Thursday, July, 24, 2008 file photo,
U.S. Democratic presidential contender Sen.
Barack Obama, (above) D-Ill, places a not in
the Western Wall, Judaism’s holiest site, in

THIS IMAGE released by the Israeli newspaper
Maariv friday July 25, 2008 and attributed to
Democratic presidential contender Sen.
Barack Obama shows a prayer the newspaper
says Obama wrote and left in the stones of the



THE TRIBUNE









Tara Todras-Whitehil/AP Photo

‘Obama’s private
ished

RD | (iy

Israeli newspaper under
fire for printing the note

m@ JERUSALEM

AN ISRAELI newspaper’s
decision to publish a handwrit-
ten prayer left by Barack Oba-
ma in the cracks of Jerusalem’s
Western Wall drew criticism
Friday as an invasion of his pri-
vacy and his relationship with
God, according to the Associat-
ed Press.

In the note, placed at Judais-
m’s holiest site Thursday, Oba-

‘ma asks God to guide him and

guard his family.

“Lord — Protect my family
and me. Forgive me my sins,
and help me guard against pride
and despair. Give me the wis-
dom to do what is right and just.
And make me an instrument of
your will,” reads the note pub-
lished in Maariv.

Maariv ran a photograph of
the note on its front page Fri-
day. It said the note was
removed from the wall by a
Jewish seminary student imme-
diately after Obama left.

Obama spokesman Robert
Gibbs would neither confirm
nor deny the note was Obama’s,
but the handwriting was simi-
lar to another message written
by the presidential candidate
during his time in Israel this
week.

CONTROVERSY

The paper’s decision to make
the note public brought quick
criticism from religious author-
ities. The rabbi in charge of the
Western Wall, Shmuel Rabi-
novitz, called it an intrusion on
Obama’s intimate relationship
with God.

“The notes placed between
the stones of the Western Wall
are between a person and his
maker. It is forbidden to read
them or make any use of
them,” Rabinovitz told Army
Radio.

The newspaper’s action
“damages the Western Wall
and damages the personal, deep
part of every one of us that we
keep to ourselves,” he added.

Many visitors to the 2,000-
year-old Western Wall leave
notes in its crevices bearing
requests and prayers. Obama
placed a small note and then
bowed his head during a pre-
dawn visit Thursday, following
a day spent in talks with Israeli
and Palestinian leaders.

The Western Wall is the lone

remaining outer retaining wall-

of the second biblical Jewish
temple, which was destroyed
by the Romans in A.D. 70.
Revered as Judaism’s holiest
site, it stands where the Bible
says King Solomon built the
first Jewish Temple, which was
destroyed by the Babylonians
in 586 B.C.

“It’s inappropriate that the
prayers of a person at the West-
ern Wall should become a sub-
ject of public knowledge at all,”
said Jonathan Rosenblum, a
Jerusalem-based analyst of the
religious community and direc-
tor of the Orthodox Am Ehad
think tank.

“There is a rabbinic prohibi-

‘ tion against reading other peo-

ple’s private communications,
and certainly anyone who goes
to the wall expects that those
communication will be protect-
ed,” Rosenblum said.

Another Israeli newspaper,
Yediot Ahronot, published an
article Friday saying it had also
obtained the note but decided
against publishing it out of
respect for Obama’s privacy.
Nearly all other Israeli media
ignored the story.

Thousands of notes and
prayers are stuffed into the
cracks of the wall. In recent
years, the Western Wall Her-
itage Foundation, which oper-
ates the site, has opened a fax
hot line and a Web site where
people overseas can send their
prayers and have them printed
out and put in the wall.

The wall is emptied of its
notes several times a year. The
papers are treated as a prayer
book and buried, rather than
burned.

While Maariv drew criticism,
the removal and publication of
the note did not appear violate
any laws. Police officials said
they were not investigating the
incident.

The handwriting appeared to
match a message that Obama
wrote Wednesday in the guest
book at Yad Vashem, Israel’s
official Holocaust memorial. It
Was written on stationery from
the King David Hotel, where
Obama stayed while in Israel.

Obama signed the Yad
Vashem message. The note
from the Western Wall was
unsigned.

At the Western Wall, Oba-
ma was greeted by a crowd of
curious onlookers and photog-
raphers.

~







THE TRIBUNE



MONDAY EVENING JULY 28, 2008

7:30 | 8:00 | 8:30 | 9:00 | 9:30 | 10:00 | 10:30

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(nt) Toute une |Palais d’Europe “Topkapi, lage c’or|(8:55) Palais jLe Dessous des |Passez au vert |Une ville un

istoire ° —_jde empire ottoman” d'Europe cartes “Sheila Cops” style “Tel Aviv’

\ (:00) Abrams & Bettes: Beyond the Forecast Weather: Evening Edition (CC)
‘ }(:00) Querida |Al Diablo con Los Guapos Fuego en la Sangre Hermanos _|Cristina
(:00) Law & Or- |Law & Order: Special Victims Unit/ WWE Monday Night Raw Rumors are swirling regacing anew RAW .

der: Criminal In-|“Sin’ A preacher is the prime sus- |General Manager. Plus, what's next for Batista and John Cena? (Live) 0
tent M (CC) {pect in a murder case. (CC): : k
40 Dumbest {I Love Money Alliances are formed. |I Want to Work |Brooke Knows |VHi Special 1
Celeb Quotes | (CC) ; for Diddy: Man |Best © (CC)
(rn) WEC WEC WrekCage (CC) x» THE KARATE KID (1984) Ralph Macchio, Noriyuki “Pat” Morita. A

rekCage (CC) : Japanese handyman teaches a teenager to defend himself.
(0) America’s America’s Funniest Home Videos |America’s Funniest Home Videos |WGN News at Nine (N) (CC)

unniest Home |The season's $100,000 winners — |The season's $100,000 winners
Videos (CC) |compete for the grand prize, compete for the grand prize.
Family Guy Pe- {Gossip Girl Blair hesitantly returns |One Tree Hill ‘What Do YouGo —_|CW11 News at Ten With Kaity
ter's religious fa- to school after being dethroned as |Home To” Lucas and Peyton talk Tong, Jim Watkins (N) (CC)
ther moves in. {Queen Bee. 1 (CC) about Lucas’ aborted wedding.

Jeopardy! (CC) |Dr. Phil © (CC) — News (N) Jeopardy! (CC) |Frasier “Kenny . |Frasier “Three

WSBK : on the Couch” {Days of the Con-
1 (CC) do" 1 (CC)

PREMIUM CHANNELS

In Focus: Shed- |REAL Sports With Bryant Gumbel |The Recruiter Sgt. 1st Class Clay Usie struggles to |x x &
HBO-E ldingLighton [0 enlist soldiers into the U.S. Army. (N) 0 (cc) KNOCKED UP

Vampires (2007) ‘R’ (CC)

re *% RUSH |Generation Kill O (Part 3 of 7) | & * & AMERICAN BEAUTY (1999, Comedy-Drama) Kevin Spacey,
HBO-P OUR 3 (2007) |(CC) Annette Bening, Thora Birch. An unhappy husband rebels against his sti-.

‘PG-13' fling existence. 1 'R’ (CC)

(:00) Costas NOW Examining the |The Mummy: | *% BIG DADDY (1999, Comedy) Adam Sandler, Joey /In Focus: Shed. |
HBO-W [current state of major league base- [Dragon Lauren Adams. A goofy ne’er-do-well adopts an im- — |ding Light on

ball. © (CC) ; pressionable youngster. ‘PG-13' (CC) Vampires

115) & &% THE LAST MIMZY (2007, Fantasy) Joely |» LICENSE TO WED (2007, Romance-Comedy) | x x x OCEAN'S
HBO-S Robin Williams. A clergyman puts a ben engaged | THIRTEEN

couple through the ringer. 0 ‘PG-13' (CC) (2007) 0

ichardson, Timothy Hutton. Siblings discover a box of
Cone % & SNAKES ON A PLANE |(:20) * * * BLADES OF GLORY ae Comedy) | * BALLS OF FURY (2007, Com-
MAX-E 006, ae) Samuel L. Jackson. |Will Ferrell, Jon Heder, Will Arnett. Rival male skaters ety Dan Fodler, ate

VH1
VS.

aa aee
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toys from the future. © ‘PG’ (CC)
compete as a pair. 1 ‘PG-13' (CC) Walken. 1 ‘PG-13' (CC

115) & & x FERRIS BUELLER’S DAY OFF (1986) | x *» THE DEPARTED (2006, Crime Drama) Leonardo DiCaprio, Matt
atthew Broderick. A brash teen and his friends have |Damon, Jack Nicholson. An undercover cop and a criminal lead double
an adventure in Chicago. 1 ‘PG-13' (CC) lives. 1 ‘R’ (CC)

am MOVING MCALLISTER THE EX (2006, Comedy) Zach Braff, Amanda Peet.
SHOW 2007, Romance-Comedy} Ben iTV. A chronic underachiever locks horns with his wife’s
ourley. iTV, ( ‘PG-13' (CC) former sweetheart. ‘PG-13'

) %» LIVE | & & MISSION: IMPOSSIBLE Ill (2006, Action) Tom Cruise, Philip Sey-|(:15) PARIS (2003) Chad Allen. A
REE OR DIE —|mour Hoffman, Ving Rhames. Agent Ethan Hunt faces the toughest villain jlawman es a Chinese woman es-
(2006) ‘R’ of his career. 1 ‘PG-13' (CC) cape from t





MOMAX







TMC





e sex trade. ‘R’



TRU Cops “Indianapo-|Ocean Force |OceanForce [Ocean Force |OceanForce {Disorder in the Court Il: 20 More | |
lis” A (CC) Outrageous Courtroom Moments

Weeds Nancy |Secret on ofa
goes over Guiller-Call Girl (iTV) |
mo’s head. a

MONDAY, JULY 28, 2008, PAGE 23







pee. t Orta)





let Charlie the
| Bahamian Puppet and. ;
his sidekick Derek put
some smiles on your pe

kids’s faces.







Bring your children to the
Mctlappy Hour at McDonald 's in
Malborough Street every Thursday
from 3:30pm to 4:30pm during the
month of July2008.




Enjoy Great Food, Prizes and Lots of Fun.

{T)

i'm lovin’ it







PAGE 24, MONDAY, JULY 28, 2008 THE TRIBUNE



COMIC PAGE

CALVIN & HOBBES

GOSH, | FOLLONED THAT

LADY HALFWAY AROUND THE

200, THINKING SHE WAS
WY MOM.






WHY DONT MOMS WRITE THEIR

NAMES ON THEIR, CALVES

Sp THIS KIND OF THING
WOULDN'T HAPPEN ?

T WONDER WHERE T AM.
AND WHERE'S HOBBES ? I
THOUGHT HE WAS RIGHT

‘Tribune Comics , :






JUDGE PARKER

SAM, THAT LAST DRIVE
WAS 250 YARDS IF
IT WAS AN INCH!

YOU CAN! WHACK © mavge steve was Weal
RIGHT.--ITS ALL IN
THE ATTITUDE!

IT WOULD
BE NICE IF IT

} COULD HIT
LIKE THAT ON



©1968 Universal Press Syndicate





Sudoku is a number-placing puzzle based on a 9x9 grid with
several given numbers. The object is to place the numbers 1 to
9 in the empty squares so the each row, each column and each
3x3 box contains the same number only once. The difficulty
level of the Conceptis Sudoku increases from Monday to
Sunday










AND HERE'S THE BEST PART—\
THEY/LL FLY ME OUT TO MEET Y SOUTH
WITH THEM AND VISIT SOME DAKOTAS!
ECOSENSITIVE GRASSLANDS...

THE PRAIRIE CONSERVANCY CALLED
ME — THEY'RE INTERESTED IN
COMMISSIONING PAINTINGS.




ST]

HATS ,
WONDERFUL?












EE SS

IKE







THE WAY THINGS ARE GOING,
I'M GOING TO BE HISTORY

ie



















©2008 Conceptis Puzzles, Dist. by King Features Syndicate, Inc.

“TM GETTIN’ WORRIED. WE HAVEN'T PASSED
A HAMBURGER JOINT FOR MILES.”



Difficulty Level ® & & *& 7/26



Best described as a number crossword, the task in Kakuro is to
fill all of the empty squares, using numbers 1 to 9, so the sum of
each horizontal block equals. the number to its left, and the sum
of each vertical block equals the number on its top. No number
may be used in the same block more than once. The difficulty
level of the Conceptis Kakuro increases from Monday to Sunday.



© 2008 by King Features Syndicate, Inc. World Rights reserved





.. AND NO WIFE TO NAG
ME ABOUT MY CHOLESTEROL

I HAD THREE CHILI

DOGS, FRENCH FRIES

SOME ONION RINGS,
TWO BURGERS

BUMMER !
THEY BEAT
US...

WELL, ATLEAST
THE DAY WASN'T
A TOTAL LOSS



























©2008 Conceptis Puzzles, Dist. by King Features Syndicate, I







5/6/3[1|4 8]9|217
7/9/4/2/5/3[6/8/4 eet 188
1/2(7/619
Biil2 a 45/3 3/1 3/98 7/9
1/5/9/6/3/2/8/7/4 a
7/4/916/8 M4 211
6)2)7|9 a3 3/1/5 814|7/6|9
4/3/8/5/1/7/2|6/9 2|8 11 M4 /2(8 1314
3/4/1/8/2/5|7/9/16 6/9 9 (6/1 BBO 4
2/7\6|4/9/1/5/3/8 1|2(6|3 M3 |1/7/2
9/8/5/3/7/6[1/4]2 517|9|8 Mig 9/4 |8 13 |

















OKAY. SET UP THE
BOARV AN? ILL
BE RIGHT BACK




Roland Berzinsch v igors Rausis, ae

Riga 1993. Latvia's formerworld =, sl

champion Mikhail talhaddieda + Rid 2,

year earlier, so the tournament tf LE ant

celebrated his memory. Tal was pot
famous for his imaginative
tactical style, so naturally they
offered a special prize for the
best sacrificial finish. Today's
position won the award, but |

_ teckon it had Tal spinning in his

(©2008 by King Features Syndici'e, Inc. World rights reserved.



Chess solution 8434 : 2 RxhS gxh5 2 Og5+ Khb 3
Bg?+ Bxg? 4 Oxad and Black resigned.



: - HOW many words of four letters
grave. His phenomenal vision is ‘ or more ‘an you make from the
teas a etters shown here? In making a
would have spotted White's . word, each letter may be used
‘routine finish even in a blitz uses once only, Each must contain the

centre letter and there must be



©2008 by King Features Syndicate, Inc. World rights reserved.

game ora simultaneous display, Words in at least one nine-letter word. No
Looking fora chess book, set, or the main Topay's TARGET
00 i d 22;
computer? - : 40 (or caorey: Solution camonee:
aoe VesTERDAY’s SOLUTION
2ist enure euro ewer here hereon

hereupon hero heron horn
hour newer nowhere opener
owner peer pore pour power
preen prone prow prune pure

CRYPTIC PUZZLE

Across Down
1 Village tragedy (6) 1 Draperies not approved by

puree renew reopen rope rune
rupee were where whereon
WHEREUPON wore worn wren

4 Employ completely and

beneficially (8) 2

9 Treated with care (6)

10 Galley vessels? (8)

12. | turn to a trifle (4)

13 Get over
an affliction (5)

14 Apportion food, say? (4)

17 You'll be lucky to win one
(4,2,6) '

20 His pupils are encouraged
to make notes (5,7)

most modern societies (8)
Note when the army order
is given (4,4)

Flat iron? (4)

The pleasure of compen-
sation (12)

Father to the French wife
of a German husband? (4)
Conductor, we hear, for
German songs (6)
Sycophants, according to
an enemy’s version (3,3)

ZR Rea

‘ERB REE ET

| ee ‘Ee

Century
Dictionary
(1999
edition)





Abandoning a Preconceived Idea

East dealer.
Neither side vulnerable.

fronted with the prospect of going
down in a contract that moments

asides et eae break | i | | | NORTH before had seemed a sure thing.
the summit a record? (8, @k9 This unexpected turn of events
24 | pick up a key to look Go up in public transport Pile tesicuc sles) a dar ett alte VK7 proved to be more than South could
round someone’s intended to take in others , || - || : | xz xz || #376532 handle. He finessed the diamond
home (5) (5) , AQS queen, losing to the king, and won
25 Awhole chapter ee ae a fight? (5) Pe ah een ian Seas soe * i the Sea return with oe sian to
may be devoted trung up (8) 2 3 say, he later misguessed which way
to him (4) , | leave the law to the big Across ‘ (3,3) ¥94 ¥108652 to take the spade finesse and finished
28 No one is in doubt that the guns (8) WJ 1 Grass-cuttin Down #K 1098 o— down one.
7 ill 9 & x A’) ¢ d
raid is over (3,5) Empty one container into N implement (6) 4 Right of voting (8) 10983 &J642 However, if South had more
irect i SOUTH calmly reviewed the situation after
29 In direct impact, but not another (6) N 4 Contraband (8) 2 Country of southeast Z Pee . oS ss
i i ; ; . AJ 105 discovering the diamond division, he
decapitated it seems (4-2) Trader who gives one a 5 9 Stir up (6) Asia (8) VA0T3 scuiil Have eal thabalie sia
. 2 s
30 oa of id ro (6) ; a. 10 Loyal supporter (8) 3 Sharp-eyed wildcat #AQ4 was still a 100 percent certainty.
ee bi pee h > 12 Space (4) (4) #K7 After East showed out on the first
yaa) Gained Homey? ” 13 Vacillate (5) Prosaic (6-2-4) The bidding: diamond, declarer should have
Sy indigestible focd a NoieS tA) for example . . . sent back Intent on being Wi teacher (4) Alliance (6) Pass 2NT Pass 6 NT mond toward the jack. West could

(6)

Yesterday’s Cryptic Solution

Across: 1 Edgar, 4 Ringlet, 8 Tea, 9
Fruitless, 10 Naivete, 11 Ashes, 13
Anthem, 15 Debris, 18 Marne, 19
Sackbut, 21 Termagant, 23 Lap, 24
Flashed, 25 Susan.

Down: 1 Estonia, 2 Gladiator, 3 Rifle,
4 Routes, 5 Nitrate, 6 Lie, 7 Tasks, 12
Harebells, 14 Eyewash, 16 Set upon,
17 Island, 18 Motif, 20 Cites, 22 Ria.

crooked (4)

Yesterday’s Easy Solution

Across: 1 Occur, 4 Address, 8 Van,
9 Blue whale, 10 Overdue, 11 Inlet,
13 Seeing, 15 Aghast, 18 Solar, 19
Riposte, 21 Barracuda, 23 Ass, 24
Red tape, 25 Token.

Down: 1 Obvious, 2 Conger eel, 3
Rabid, 4 Amulet, 5 Dowsing, 6 Era,
7 Sleet, 12 Loan shark, 14 Nirvana,
16 Treason, 17 Grouse, 18 Sober,
20 Plant, 22 Rid.

17

20

23
24

25
28
29
30

31

English painter,
d.1788 (12)

Class of words
(4,2,6)

Mature (4)

A hardwood

tree (5)

Untruthful person (4)
Knitted jacket (8)
North European sea
(6)

Tchaikovsky ballet
(4,4)

Fungal timber decay

Roundabout route (6)
Expression of
approval (3,2,3,4)
Normal (5)
Open-mouthed (5)
Record formally (8)
More direct route
(5,3)

Noisy quarrel (6)
Ancient enemy of
Athens (6)

Occupy

whole of (4)
Adequate (4)



Opening lead — ten of clubs.

One vital characteristic of any
successful player’s psyche is tem-
perament. A player who is easily
upset by a bad break, or who allows
a poor result on one deal to adversely
influence his play on a subsequent
deal, is not likely to do well over the
long haul.

Take this case where declarer lost
his cool after running into a 4-0 split
in a critical suit while playing what
looked like an ironclad slam.

He won the opening club lead in
dummy in order to tackle his most
promising suit, diamonds. But when
East discarded a heart on the low dia-
mond lead, South was suddenly con-

not afford to take the king since this
would establish the remaining dia-
monds. After dummy’s jack won,
South would then need to score only
three spade tricks without allowing
West to gain the lead.

This could be managed very eas-
ily by leading a club to the king fol-
lowed by a spade to the nine. Even if
the finesse lost to East, 12 tricks
three spades, four hearts, two dia-
monds and three clubs — would
become assured.

As it happens, the finesse works
and the queen later falls, so declarer
winds up with an extra trick as a
bonus for maintaining his self-
control,

©2008 King Features Syndicate Inc.



THE TRIBUNE MONDAY, JULY 28, 2008, PAGE 25








































: ‘

2

x

See i s




+a)
, 3S

5




Age

+

: Name of parents :

he of extn already taken ,
and the results - e.g. - Bahamas
— Junior Certificate (BCs) exams

and Pitman exams

| Mi The Tribune will be publishing its annual
~ ‘Back to School’ supplement in

August/September. In preparation for the —

supplement, which will feature all graduat-

‘Alist of exams expected to
be taken- Bahamas General
Certificate of Secondary

Education (BGCSE) exams:

The college/university they ing seniors who will be attending universi-
expect to attend -e.g. College ty/college, whether locally or abroad, we
of the Bahamas, Harvard = Pees ,
University, University of Miami = invite all parents, guardians and graduating
igs seniors to submit a profile on the graduat-
_ Name of degree expected to =) jng seniors, along with a photograph and

be sought-e.g.-Bachelors =
degree in English, Bachelors »
degree in Biology

contact information. Deadline —
is July 31, 2008.

_ What career they expect to
enter once their education is
completed - a doctor, Math
teacher, engineer





a Please forward all information to Lisa Lawlor, Tribune
Junior Reporter at email - lisalawlor@ gmail.com -
please note ‘Back To School’ in the subjectline. The =~

All extracuricular activi-
ties - club memberships, information may also be nand delivered or mailed in:

team sports/track and fs qs | Fe a oe ee
field, church activities ; gy | a - ERB ae





A list of honours/
awards/recognition stu-
dent has received







T



i

HE TRIBUNE

Q a) ee io
tt

at ceipat 22s

a





At aes Bee a ene tk eee eeetars Ma ae eS ese a a a se el il cin te





=a

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SECTION B « busine



MONDAY,



JULY 28,

re



2008

@tribunemedia.net





Po =r guarantee stops
- CLICO Bahamas asset impair

‘™@ By NEIL HARTNELL j
Tribune Business Editor

CLICO (Bahamas) management
had considered writing down a $57 mil-
lion loan to an affiliate that represent-
ed about 59 per cent of its total assets,
the company’s year-end financial state-

ments revealed, but decided not to do’

so after its Trinidadian parent guaran-
teed repayment.

Deloitte & Touche (Bahamas), in
its audit report on CLICO (Bahamas),
did not qualify its opinion on the com-
pany’s financials, but still highlighted
the fact that almost 59 per cent of the
company’s $97.352 million in total
assets were invested in loans to a sub-
sidiary, CLICO Enterprises Ltd.

The audit report found that CLICO



Contidence For Lite

9%

* Auditors note Bahamian insurer’s high concentration of investments.in

loan to affiliate, which saw major asset suffer 20 per cent fall in value
t Company; s 2007 profits up 55 per cent after 110 per cent crown in pty revenues

Enterprises’ main investment, a Flori-
da-based real estate project called
Wellington Preserve, suffered a more
than 20 per cent decline'in market val-
ue, falling from an appraised $104 mil-
lion at year-end 2006 to $80.5 million at
year-end 2007, due to the collapsing

. Florida real estate market.

“This reduction in value has resulted
in [CLICO Bahamas] management
considering the possibility of impair-

ment of the loan,” Deloitte & Touche —

(Bahamas) wrote in its audit report.

“Although the market forecast for
Florida shows recovery of the teal.
estate market in 2008, management —
obtained a guarantee from C.L Finan-

cial (CLICO Bahamas ultimate par-
ent), whereby C L Financial states that
it will honour the obligations of CLI-
CO Enterprises to the company if the
need arises. As such, no provision has

‘been made for impairment.”

_Itis highly unusual for life and health

usually make mult
» diversify and. spre:



insurance companies to have such a
heavy concentration of their invest-

ment assets in just, one. loan, as they ~
iple investments to»



“tisk. Several
Bahamian insurance industry sources,
when contacted by Tribune Business,

questioned whether the Registrar of

Insurance was looking at the CLICO
(Bahamas) situation, arguing that he

should be “concerned” about the com- ~

pany’s potentially high exposure to just

one Beet that appeared to be depreci-

ating in value.

Lennox McCartney, the registrar,
declined to comment on the situation,
telling this newspaper: “I-don’t make
those kind of comments about a
licensee. We don’t make public state-

_ments about any concerns, or lack of

concerns, with out licensees. We have ~

SEE page 2B




WIAs

Bacardi. store ‘a global
first’ for the Bahamas

By NEIL HARTNELL
Tribune Business Editor

THE Bahamas will this week
score a global first with the
opening of Bay Street’s Bacardi
concept store, its owner telling
Tribune Business it hopes the
high-end project will have “a

domino effect” on downtown |

Nassau’s revitalization and pave
the way for more such stores to
open in this nation.

Juan Bacardi, president of the
Bristol Group of Companies,
which will own and operate the
Bacardi store under licence
from the world-renowned spir-

Sponsored by

Drive'a Honda Fit and get up to
C= ol -mteF- Lice










. ‘Possibilities’ for other

_ investment” in the 3,300 square -

. we can all be successful on Bay

PM: Freeport duty rates
paid * on submission,
not time of sale’ .

B@ By NEIL HARTNELL :
_ Tribune Business Editor

“OTHE: Government i is “very likely” to face legal action after
Prime Minister Hubert Ingraham effectively said Grand Bahama
Port Authority (GBPA) licensees who collect post-paid duties for
Customs must pay 2008-2009 Budget tax rates on their June 2008
submissions.

When asked by Tribune Business about the controversy that
has erupted over the Customs Department’s efforts to “retroac-
tively” apply the higher 2008-2009 Budget tax rates to ‘post paid’
bonded good sales that occurred

’ during the previous Budget year,
Mr Ingraham said: they.key. was:



ae quality of the idea
poor. In the past, I used
critical of. bank s services .



My PM Hubert Ingraham SEE_page. 7B unas



concept stores

its and liquor brand, said the
firm had made a “significant

foot store and been “willing to.
take arisk” onit.
““We hope it encourages oth-

er people to take Bay Street to
where we want to get it, so that

Street,” Mr Bacardi said. “It’s
the city. It’s what drives the mil-

SEE page 5B

Insurers.
_ losing ©
substantial

; One family with many needs For
sums 1 a solid financial foundation and
customized advice, their choice Is

Colinalmperial.

in |THE DAVIS FAMILY
premium | . <
dollars |

a By NEIL HARTNELL
Tribune Business Editor

THE Bahamian insurance
industry is missing out on poten-
tially millions of dollars in pre-
mium revenue, a senior execu-
tive has warned, because major
international developers and...
second home owners are plac-’.

SEE page 4B

Colinalmperial.

€entidence For tite



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PAGE 2B, MONDAY, JULY 28, 2008

¢

THE TRIBUNE



International Markets

FOREX Rates

CAD$

GBP

EUR

Commodities

Crude. Oil

Gold

Weekly

0.9816
1.9910
1.5702

Weekly
$123.25
$936.90

International Stock Market Indexes:

DJIA

S & P 500
NASDAQ
Nikkei

Weekly _
11,370.69
1,257.76
2,310.53
13,334.76

% Change

-1.29
-0.39
0.91

% Change
-4.13
-2.20

% Change
-1.09
-0.23

+1.22
+4.15

2006 Mercedes. Benz cis s00-so00cc
Fully Loaded - Limited Edition

Just Like New!

- Must Sell!

PU ETH MME Ui yer Bs)
TO SET UP APPOINTMENT TO VIEW
a tay

PALL ee
yes

ES 1 kebab

attire

Presenting



i By RoyalFidelity Capital
Markets

IT was a quiet week in the
Bahamian stock market, with
investors trading in six out of
the 19 listed stocks. One stock
advanced and five remained
unchanged. A total of 35,030
shares changed hands, a signif-
icant decline from last week's
record trading volume of
349,885 shares.

Cable Bahamas (CAB) was
market leader for the second

' consecutive week, with 4,500

shares trading, their price ris-

ing by $0.01 or 0.07 per cent to -

close the week at $14.05.
FirstCaribbean International
Bank (Bahamas) (CIB) led this

week's market volume with .
9,870 shares, closing unchanged .

at $11.65. Colina Holdings
(Bahamas) followed with 7,410
of its shares trading, also ending
the week unchanged at $2.88.
Some 4,750 shares of Finance

Corporation Bahamas (FIN) .

and 4,500 shares in Common-
wealth Bank (CBL) also traded,
with both remaining unchanged
at $12.50 and $7 respectively.

COMPANY NEWS

Earnings Releases

Commonwealth Bank (CBL) .
released its unaudited financial :

results for the quarter ended
June 30, 2008.
CBL reported net income of

$24.5 million for the 2008 first ©

half, representing an increase
of 10.45 per cent in comparison

to the same period in 2007. Net |
interest income of $48 million *
rose by $4.8 million or 11.2 per ,

cent from the prior year.

Net income available to com- |
mon shareholders year-to-date ,
was $21.5 million, up $2.3 mil- .

CLICO, from 1B

ongoing discussions with CLI- .
CO and our other. licensees, .
that’s what we do.”

Karen Gardier, CLICO

(Bahamas) chief financial offi-
cer, told Tribune Business that ©
the company and Registrar of »

lion or 11.9 per cent over the
prior year.

For the most recent quarter-
end, earnings per share grew
from $0.09 to $0.10, increasing
by $0.01 or 11.11 per cent.

Net income available to com-
mon shareholders for the 2008
second quarter stood at $10.2
million, compared to $9.1 mil-
lion for the same period in 2007,
an increase of $1.1 million or
12 per cent.

Despite a sluggish economy,



- CBL reported that its annu-_

alised return on common share-
holders’ equity was up 35.5 per
cent from 33.9 per cent. How-
ever, return on assets (ROA)
decreased to 3.5 per cent from
3.65 per cent, which resulted
from a 22 per cent increase in its
cash and securities portfolios at
December 2007.

CBL’s total assets and liabil-
ities at June 30, 2008; stood at

$1.3 billion and $1.1 billion .

respectively, compared to $1.2
billion and $978 million at year-
end 2007.

Private Placement Offerings a

FOCOL Holdings (FCL) '
that it will be extending the’

deadline of its private place-
ment offering. |

The preferred shares will be
paying a dividend rate of prime
+ 1.75 per cent, payable semi-
annually.

INVESTOR CORNER

Money Market Securities
What i. is it?

Money market.securities are
short-term debt securities with a
maturity of one year or less, and
are normally classified as cash
equivalents. because they are
considered just as good, partic-

Insurance’s Office had “not
met” yet-in 2008 to discuss the
- CLICO Enterprises loan situa-
~ tion. >.

She explained that the invest:
ment in CLICO Enterprises,
and subsequent Florida real

Inireducing: _ /

cé$ House No. 1
4 Bedroom, 3 1/2 Bath “
1949. sq ft. ees.o0e

3 Bedroom, 2 1/2 Bath °,
1470. sq ft. $630,000

THOR EEA

ce# House No. 34
4 Bedroom, 3 1/2 Bath
2068. sq ft. $800,000

co# House No. 131

4 Bedroom; 3 1/2 Bath
2068. sq ft. $685,000
Aomunmneennensonononsan een
e+ House No. 114

3 Bedroom, 3 1/2 Bath

igi. sq ft. $745,000

ularly because of their liquidity,

The Bahamian Stock Market |

BISX CLOSING CHANGE VOLUME YTD PRICE
SYMBOL PRICE ste CHANGE
AML $1.81 $- © 0 9.04%
BBL $0.89 $-.% 0 4.71%
BOB $9.30 $- 4 0 3.23%
BPF $11.80 $- 0 . 0.00%
BSL $14.60 $- 0 0.00%
BWL $3.49 $-.§ 0 -4.64%
CAB $14.05 $+0.01 6,000 16.60%
CBL $7.00 -- 4,500 -16.96%.
CHL $2.88 $- } 7,410 -8.57%
CIB $11.65 geo ~<~--9:870 -20.21%
CWCB $3.89 $+0:57 0 -22.82%
DHS $2.85 $.. 4 0 21.28%
FAM $8.00 s- 0 0° 11.11%
FBB $2.35 $- | 0 -11.32%
FCC $0.44 $- & 0 -42.86%
FCL: $5.53 $- 4 0 6.76%
BING ee $12 S00 che 4,750 * 3.47%
IED)... $5.50 ‘Sa 2,500 -24.14%
ISJ $12.00“ s., $- & 0 "9.09%
PRE $10.00 — $- ‘i 0 0.00%
DIVIDEND/AGM NOTES:

e Consolidated Water Copan BDRs (CWCB) declared a
quarterly dividend of $0.013. per share, payable on August 7,
2008, to all shareholders of tecord date J une 30, 2008.

ee ICD Utilities (ICD) dedihred a quarterly dividend of $0.10
per share, which was paid on July 25, 2008, to all shareholders of

record date July 4, 2008.
* FOCOL Holdings (FCL)

$0.03 per share, payable on A

‘of record date July 31, 2008, :



) declared a quarterly dividend of
p ugust 12, 2008, to all shareholders

° Fidelity Bank (Bahamag (EBB) announced it will be hold-

ing its Annual General-Meeting on Thursday July 31, 2008, at

j 6p: m in the Victoria Room atthe British ana Hilton Hotel,
No. 1 Bay Street, Nassau, Baas : .

investment grade and safety. |!

Examples of money markét
securities are Commercial
Paper, Banker's Acceptances,
Negotiable Certificates of
Deposit, Federal Funds, Mon-
ey-Market Funds and Repl
chase Agreements.

The majority of investors in
these securities are financial
institutions and a small segment
of individual investors that pre: .

if
i

“estate acquisition, was made

using US. dollar-denominated

’ assets obtained byaCL Finan-



- gial subsidiary ‘in’ anothér

Caribbean territory, with the

‘Bahamian operation effectively
-acting asa eDas trough entity

a4




ui





+ Custom, solid wood cabinets

©" Granite or polished concrete

counter tops.

wot 6 Stainless appliances incl.

«Impact resistant windows
* Open plan living area

¢ Walk in closets —

¢ Central AC snipushout,

+ Front and rear porch’

« Completely vale Son

« Gated community

«24/7 security

* Club house & pools

« Tennis courts

‘« Homeowners association

° Underground yates

Floor plans and house specs available on the website
www2.charlottevillebahamas.com/listings.htm |

.) Elegant Turnkey Homes

in n sought after Charlotteville

SOLD DIRECT TO YOU BY THE HOMES ne ceca

SAAMI

SANCTUS THANE RATA IESE ST TEATS LD ETO ERS IOI



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superior homes. Built to the highest standards, with
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Contact our sales team:

Tel: 242 362 2727 or 242 3977 0570
Email:info@yourbahamas.com or
charlotteville@coralwave.com

Web: www.charlottevillebahamas.com/listings.htm _

ASK ABOUT AVAILABLE LOTS AT CHARLOTTEVILLE



fer safe, short-term investment
vehicles which enable them to
divest these assets into cash
quickly, if and when the need
arises. |

Typically, money market
securities are traded in large
units ($1 millionO or $5 million
minimum). That is the reason
why it is more appealing to
financial institutions rather the

‘individual investors.

for the development.

While the Wellington Pre- —

serve development had been
“on stream” since 2004, Ms
Gardier said CLICO Enter-
prises’ “major investment” had
been impacted by two key fac-
tors, which had’ delayed its
development. «
The first of these was the

‘2005 hurricane season, during

which four storms hit Florida,
while the second was the fail-
ure’to’ conclude a joint venture
agreement with a US company
that wanted a big parcel of land
in the Wellington Preserie
development.

Ms Gardier said that as a
result, CLICO Enterprises had
incurred “carrying costs” asso-
ciated with the development in
2006-2007. Now, a new project
plan had been approved, with .
real estate-sales underway. Th¢
project was scheduled for com-
pletion in 2009.

CLICO (Bahamas) chief

financial officer said the com-

pany did not see the Welling-
ton Preserve project, which is
targeted at the equestrian mar-
ket, as containing a “high level

of risk”. Ms Gardier added that

while the value of the land had
been impaired, this was due to
the overall state of the Florida
real estate market, and the com-
pany felt confident its true val-
ue had not been affected.
“Everything in business does
not work out as planned,” she
said. Under the loan agreement,
CLICO Enterprises pays an
interest rate of 12 per cent to
CLICO (Bahamas). In 2007, the
latter received $9.508 million in
interest payments on the loan.

In his statement'to share- —

holders, CLICO (Bahamas)
chairman, A A Duprey, said the
Bahamian operation generated .
a $672,125 net profit for the
financial year to end-2007, a 55
per cent rise over 2006.

The company’s premium
income increased by 40 per cent
during the 12 months to year-
end December 2007, driven by a
110 per cent increase in its:
annuity line to $31.196 million.

Policyholder benefits paid out
by the life and health insurer
rose by 31 per cent, while oper-
ating costs dropped by 17 per
cent.

For 2008, Ms Gardier said
CLICO (Bahamas) planned to
launch a new annuity product,
plus focus on its core business
and continue to develop its
agency sales force, She added
that the company would also
explore the possibility of
expanding its branch operations
to Family Islands where eco-
nomic growth was taking place.

CLICO (Bahamas) now
employs between 100-124 staff,
and Ms Gardier said: “What we
targeted in 2007 paid off for us,
which was the pension prod-
uct..... Businesses go through
cycles, and we see this as one
phase in our cycle. We have
plans, and see ourselves com-
ing out of this cycle into a posi-
tive one.”



THE TRIBUNE

ealtor chief eyes
Act reform sign-off
‘in the next month’



Se ne mee CeCe (Ul ie

CUNO UP TEU ROMO aC
hours as a Dental Assistant. |

na
UCC Tau CACAIC UTD E LLL







Rie DOCTORS HOSPITAL _

Health For Life

m@ By NEIL HARTNELL
Tribune Business Editor

THE Bahamas Real Estate
Association’s (BREA) is hoping

the industry will sign off on pro-
posed reforms to the main Act
governing the sector “in the
next month”, with the amend-
ments designed to give the leg-






























FAMGUARD

The Board of Directors
of
FamGuard Corporation Limited
is pleased to advise that
the second quarterly dividend
for 2008
of 6 cents per share
has been declared to be paid on
August 8, 2008
to -Shareholders of record as at
August 1, 2008

























islation “more teeth” and pro-
vide greater protection for
Bahamian realtors.

William Wong, of William
Wong & Associates, said on the
Act’s reforms: “We’ve made
good progress, and the first
draft from our attorneys came
in yesterday [Wednesday]. That
will be presented to our Board
next week, and in the next
month hopefully it will be for-
malized.” ;

Mr Wong said the proposed
amendments were designed “to
give the Act some teeth so we
can bring more discipline, and
to protect the local broker
against the foreign invader”.

“The BREA president:said
governments of all hues,
whether PLP or FNM, “don’t
negotiate well” with incoming
overseas investors when it came
to ensuring Bahamian services
professionals derived meaning-
ful benefits from their projects.

The Government, Mr Wong
added, often “forgets about the
architect, the realtor, the engi-
neer”, although he did not
blame developers because it
was their job to “cut the best
deal possible”.

“Plans are being designed
overseas and are then sent over
here to be stamped,” Mr Wong
said. “That’s hot helping the
architects much. We know how
the system works; we just want
something out of it.”

are filling out that market and
renting out their homes”, some-
thing that does not produce any
tax benefits for the Government
and takes business away from
hotels.

In his address to the Rotary
Club of west Nassau last week,
Mr Wong reiterated BREA’s
concern that its members would
not derive substantial benefits
from developments such as
Ginn and Albany because the
majority of real estate would be
sold via transactions outside the
Bahamas.

“Agreements of sale will be
signed in Palm Beach or Lon-
don, Toronto or New York. The
transfer of funds will all take
place offshore, and in very few
cases will local realtors. bene-
fit,” Mr Wong said. “For exam-
ple, if one of the condominium

’ units at Albany were to be sold

for $2 million, it is certain that

the realtors of record will be a

foreign salesperson.”
Currently, Bahamian law
allows developers to sell them-
selves real estate and property
they have constructed/devel-
oped, although it is stipulated
that local brokers/agents be
involved in any relsales.
Urging the Government to
find a way to ensure Bahamian
realtors benefited from large
projects, especially on re-sales,
Mr Wong said: “The only pro-
fessional group who receives a














Coordinator Medical/Surgical Unit

Qualifications:
. Registered nurse from an approved nursing program,
BSN required, MBA/MHA preferred,
Currently registered with the Nursing Council of the Bahamas,
Minimum of 3 years.managerial experience,
Strong computer skills,

Excellent interpersonal, organizational and leadership skills.



Position Summary:

* Supervision and evaluation of nursing staff to meet patient needs,









* Responsible for the day to day management of the Medical/Surgical Unit,
i i

* Coordination of support services and resources to facilitate the total care














The BREA chief added that direct benefit from the real
the Government “needs to start estate transactions being
giving incentives for more derived from these mega pro-
Bahamians to move to the Fam- _ jects is local lawyers, who are
ily Islands. Give the Bahami- required to act for seller and
ans an incentive to set up busi- _ purchaser in these conveyances.
nesses, move government facil-

ities there. At the moment, it’s :
ve the: second ‘homie buyers who ove SEE page 8B








FAMGUARD CORPORATION LIMITED

The parent holding company of
Family Guardian Insurance Company Limited
BahamsHealth Insurance Brokers & Benefit Consultants Limited
FG General Insurance Agency Limited
FG Capital Markets Limited
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Excellent benefiis ; Salary commensuraie with experience

t









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«Past President

PAGE 4B, MONDAY, JULY 28, 2008

CFA Society of The Bahamas

MONTHLY SPEAKER EVENT

“Commodities: The Complementary Role of Real Asset
Beta in Your Portfolio”

2008/2009 Officers & Directors
President

David Remiret, CFA
Pictet Bank & Trust Lids, :

PO Bok N-4837, Nassau Bahamas

Ph: (242) 302 2217 *

Fax: (242) 327 6610
Email:dramirez@pictet.som
Vice-President he Ree
Christopher Dorsett, CPA’ - *
Citigroup Corporate & Investnemt Bank =
PO Box N 8158, Nassau, Bahamas’.
Ph: (242) 302 8668

Thursday July 31, 2008

12:00 pm General Meeting
* 42:30 pm Speaker’s Address
Please arrive promptly!

Luciano’s Of Chicago

Fax: (242) 3028969 | Cagliari Room
Cilinadnatcinadon

ze David Burkart, CFA

T wis : . ;
seals bead: cra. fh tbe 5 Senior Portfolio Manager/Strategist
whe aig Barclays Global Investors

ScotiaTrust Py i
PO Box N 3016, Nassau, Babamas San Francisco, CA
Members $25.00

Ph: (242) $02 5718
Non-Members $35.00

Fax: (242) $02 6944 * oe
Email soniaguryabloombsrg.nct Jy

ca Pid CFA CFA cee ae (Cheques payable to: CFA Society of The Bahamas)
tata Th oe

PO Box $$ 6289, Nassau, Bahantas ©
Ph: (242) 5025400 0.5.

Fax: (242) $02 $428

Email: nance

Programs d Public Relation“
Jeremy Dyk CFA RO ee
LOM Securities (Bahamas) Lad. t A

PO Box CB.12762-525, Nassau; Bahamas
Ph: (242) 323 0032

Fax: (242) 323-0084 87

Reservations: — PRE-REGISTRATON REQUIRED -
by Wednesday July 30, 2008, contact:
Jeremy Dyck, CFA, tel. 323-0032, jeremy.dyck@lom.com

*Prepayment required through one of the Board Members

Ena jcemdslonesmt
Education

Velma Miller

Toya Fey Mecha Ba Tine
PO Box N 4853, Nassau, Bahamas
Ph: (242)386 7764 8
Fax: 0) 305 cee

Mr. Burkart leads marketing, portfolio management, and investment
research for Barclays Global Investors’ institutional. and retail
commodities-related products in the Americas and Asia, where he is

| assisted bytwo portfolio managers with day-to-day fund
| management, new product development, and signal
‘| «| pegearch. Previously, he managed macro asset allocation strategies
sal.» | for BGI, which exposed him to the diversification benefits of the
eon bel 7) *.«| commodities asset class and motivated him to build BGI's U.S.
EverKey Global Parinets :* >] commodities business. Mr. Burkart also worked at’ Gap Inc. in
Nee Neer Ba i: =e “international treasury and corporate finance and Bank of America in
: foreign exchange and syndicated lending. He has been quoted by
«| Pensions & Investments, Bloomberg, and CBS Marketwatch and
’ | holds the NASD 3, 7, and 63 licenses.

Scholarships

-Mr. Burkart holds a BA in economics from UC Santa Barbara, an
_| MA in foreign affairs, focusing on the emerging economies of East-
Central Europe, from the University of Virginia, and an MBA in

| finance from the Wharton School of Business

Ph: (242)502 00°
Fax: (242) 3563677

Kristiga M. Fox, CFA.
CIT Holdings Limited”
PO Box N 1328, Nasi
Ph: (242) 363 1508!
Fax: (242) 362 102
Email: k{@gitco.uk
o. ”

THE TRIBUNE

Insurers losing
substantial sums
in premium
dollars

FROM page 1B

ing property business directly
outside this nation with foreign
brokers.

Marvin Bethell, J. S. John-
son’s managing director, said
Bahamian insurance agents and
brokers: were facing the same
issues as their real estate coun-
terparts, in that they were miss-
ing out on substantial amounts
of property and casualty insur-
ance business that was being
written by foreign brokers and
carriers on Bahamas-based real
estate.

While the law said “that any
insurance company writing busi-
ness in the Bahamas should be
properly registered to do so”
with the Registrar of Insurance
and appropriate regulatory
authorities, Mr Bethell
explained that the compliance
burden was on the foreign bro-
kers and carriers — not on their
clients.

Law
As it stood, Mr Bethell said
Bahamian law simply required

that foreign insurance entities
established correspondent rela-

tionships with Bahamas-based.

brokers and carriers and co-
broked, with commissions
shared.

“Tt doesn’t put the burden on
the property owner or individ-
ual. It puts the burden on the

insurance agency to be regulat-
ed,” Mr Bethell said. “Most of
these [high-end] second homes
are purchased by overseas
clients, who quite often take
their insurance to an overseas
broker.

AniOuae.

“There is a fair amount of
business we lose out on. I don’t
think a lot of this stuff is insured
through local companies or bro-
kers. Not all of it goes overseas,
though, thanks to the corre-
spondent relationships our-
selves and others have.”

Mr Bethell:said he was
unable to quantify how much
premium revenue the Bahami-
an insurance industry was miss-
ing out on, but “it’s no small
amount, because a lot of the
larger projects we don’t even
see. There’s a lot, I believe, that
is just passing by. It’s hard to
put a value on it, other than to
say it’s no small amount”.

Many major developers com-
ing into the Bahamas often
enjoyed well-established rela-
tionships with insurance bro-
kers and carriers in their home

country, making it natural for.

them to place their Bahamian
real estate there, and also
encourage clients to do so.

Yet Mr Bethell pointed out
that Bahamian real estate bro-
kers and agents provided a ‘val-
ue-added’ service to their

clients, especially these from

_ overseas.

“Suppose there is a loss and
something happens,” Mr
Bethell said. “There’s someone
here that you can deal with, set-
tle the claim with, who knows
the local rates and the local ter-
ritory.

“You know how many times
we get calls from insurers in the
US saying they don’t know how
to deal with this, don’t know
what the local regulations are?”

The Government was “losing
out on premium tax” as well,
Mr Bethell added, as it would
not earn the 3 per cent it levied
on gross premiums if policies
were placed directly outside this
jurisdiction.

Problem

To remedy the problem, Mr
Bethell suggested the Govern-
ment act on the industry’s sug-
gestions and, as realtors had rec-
ommended, include clauses in
Heads of Agreement negotia-
tions with major investors that
all insurance business be placed
through Bahamian-registered
brokers and agents.

Brochures on how to do busi-
ness in the Bahamas, and what
the regulations were, needed to
be handed to foreign developers
and home buyers at the earli-
est possible stage, Mr Bethell
pointing out that this made
sense for the Government,
Bahamian services s providers
and the economy.: eats

4

The American Embassy is presently considering applications for the
following position:

REALTY ASSISTANT

Serves as the senior member of the GSO Housing Office working

interdependently in administering and managing the complex

legalities and details of an interagency housing pool that spans from
| New Providence to Grand Bahama Island.

This position is open to candidates with the following qualifications:

At least two years of college credits in business, real estate, business
management, logistics, property management, public service or
related fields required.

Must have a good working knowledge of geheral office procedures,
Microsoft Office Suite and database management.

Emerald Coast
Munnings Drive
New Providence

Tal: (242) 341-4042
Fax: x: (242) 341-1407

- New: Brovidence’ s Newest Gated Community
: Me off JFK Drive to South West Ridge



SALES S OFFICE OPEN Monday - eae 9:00AM - 4:00 AM Daily

_ PRECONSTRUCTION PRICING
HOUSE & LOT PACKAGES STARTING AT - $335,000.00
TOWNHOUSE UNIT STARTING AT - $250,000.00
SINGLE FAMILY LOTS STARTING AT -$98,000.00
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MODEL HOUSE Is OPEN FOR APPOINTMENT VIEWINGS
TO RESERVE YOURS CALL OUR SALES'GFFICE

Ph 242-341 4042 Fax 242-341-1407

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PERSONALATFRIBUTES:

Must have the ability to meet deadlines in a timely manner and work
independently with minimum supervision.
Must be organized and have good customer service skills.

BENEFITS PROVIDED INCLUDE:

The successful candidate will be offered an excellent compensation
package including performance- -based incentives, medical and dental
insurance, life insurance, pension and opportunities for training and
development.

Applicants must be Bahamian citizens or U.S. citizens who are
eligible for employment under Bahamian laws and regulations.

Application forms are available from 8:00 a.m. to 5:00p.m. Monday
through Friday at the security area of the American Embassy, Queen
Street. Completed applications should be returned to the United
States Embassy: addressed to the Human Resources Office no later
than July 31, 2008. Telephone calls will not be accepted.





IHE 1 AIbUING



Bacardi store
‘a global first
for Bahamas

FROM page 1B

lions of tourists from the cruise
ships. It’s the centre point. It’s
our bloodline.

“The city’s sitting right in our
laps and we’ve got to treat it
and take care of it, making it
the pristine city that it is. It’s
our bloodline.

“We're going to create some-
thing in Bay Street to really
wow them up and get some-
thing going. This is the first of
its kind, the first time Bacardi’s
allowed its products to be sold
this way.

“No one in the world has this.
We're going to launch it in the
Bahamas. That’s the type of
thing we can continue to do.
The Bahamas is just poised for
these opportunities.”

The Bacardi store’s opening
will create five new jobs for
Bahamian employees, and they
have been provided with tech-
nical advice and training by the
spirits brand itself.

The Bahamas has very few
concept stores of its own, Mr
Bacardi saying he could only
think of the Hard Rock Café
and Harley Davidson. Adding
that he did not think concept
stores had ever been featured
in the drinks industry before,
the Bristol Group president said
there were “possibilities” to set-

up other such stores in Nassau °

and other islands.

“T haven’t thought about that
too much,” he told Tribune
Business. “I think we’re going
to have to walk before we run
and make sure this investment
[on Bay Street] works out, but
yes, there are other possibilities
in the Bahamas. where this.









Rect A DA ASION AAS VRE ar eo i =
mace eee nen hl en

ce a
NA



and reports.
























could be done.”

John Esposito, Bacardi’s
president and chief executive
for the North American region,
said: “With this truly unique
retail destination, we create a
visitor experience that capital-
izes on the rich history, heritage
and passion of the Bacardi spir-
its portfolio — for both our visi-
tors and for those who call Nas-
sau,home.”

Given that at least 40 per cent
of total tourist arrivals to the
Bahamas came in via Nassau’s
cruise port-of-entry on Prince
George’s Wharf, Mr. Bacardi
said it was vital that this nation
provided them with “the right
product” that kept the cruise
ships coming back, in the face of
increasing competition from
other Caribbean ports of call.

With its bright red facade,
signs and Bacardi branding, Mr
Bacardi said he hoped the store
would become “almost a draw-
ing product” to encourage
cruise passengers to turn left
upon exiting Prince George’s
Wharf and visit the ‘gateway’
to Bay Street east of East
Street. '

He acknowledged that most
persons naturally turned right
upon exiting a destination, and
in Nassau the major retail
stores, Straw Market and
British Colonial Hilton all lay
in that direction. .

Mr Bacardi said the major
unknown was how many
tourists and Bahamas residents
the Bacardi store would attract,

‘and added that the business

would have to be “adjusted
based on customer feedback”.

Speaking ahead of a week-
long series of events that starts
today, and culminates in the
Bacardi store’s grand opening

MUS. Pecan re EE ERA *

Nassau Airport

Development Company

The Nassau Airport Development Company (NAD) is looking for a highly creative
individual to become a part of our Marketing Team.

Familiarity with graphic design would be a definite asset.

if you are interested in joining our dynamic team,

on Thursday, Mr Bacardi said
the store’s creation was sparked
some 18 months ago when Mr
Cates, owner of both the prop-
erty and its previous tenant,
Tower Jewellers, approached
him to see if he was interested
in acquiring it.

Mr Bacardi had previously
been interested in the property,
on the corner of Bay and East
Streets, some five years ago. He
initially thought Bay Street
already had enough liquor
stores, but an idea began to
form. a1" 3

“We needed such a unique
concept in our industry, to try
and promote our industry, but
with a different concept and in a
different way,” Mr Bacardi said.
Since his company was already
its Nassau-based distributor, the
Bristol Group president saw
Bacardi as the ideal brand to
partner with in the creation of a
concept store, where the entire
range of the spirits brand’s
products was on display as a

promotional way to educate the -

consumer.

Bacardi brands, including
Grey Goose vodka, Bombay
Sapphire gin, Dewar’s Scotchy
whiskey and Cazadoes tequila
will all be stocked at the new

store, which will see products

at duty-free prices. Also on sale
will be Bacardi-branded hats,
shirts, gym bags, towels and
umbrellas.

“They gave me the green
light,” Mr Bacardi said of his
brand partner. “They said:
‘Juan, we live the idea, it’s a
fantastic idea.”

After acquiring the property,
it took the Bristol Group “close
to a year” to properly fit it out,
with work having begun in
earnest last August.

Reporting to the V.P Marketing, the Communications Manager is responsible for
overseeing the development and maintenance of communication and marketing
materials. Within the company, the Manager will maintain the day to day
communication functions for NAD staff including production of .the company’s
newsletter, and web-site maintenance and updates as well as the development
of collateral and promotional items. The ideal candidate uses creative abilities to
develop concepts while working along with the marketing analyst on presentations

Externally, the candidate will work with a public relations firm on print, radio and
television advertising.

The Manager will have a degree in Marketing or Public Relations with at least 3
years related experience in a similar position and be proficient with Microsoft
Office software including Excel, Word and Power Point. Strong communication,
interpersonal, written, and presentation skills are a must.

The position offers competitive compensation and benefits with opportunities for career
growth and development.

please submit your resume by August 08, 2008 to:

Manager, People

Nassau Airport Development Co.

- Only those applicants short listed will be contacted.

PO Box AP59229
Nassau, Bahamas





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Nassau Airport Development Company is looking for a dynamic and energetic Self-
starter to take the lead in conceiving and implementing innovative programs for the
employees of NAD. The Supervisor will play a key role in envisioning and imagining
new ways for NAD employees to work together. The successful candidate will enjoy
freedom to develop leading edge programs and provide support in the management
of human resource functions such as recruitment, employee communications and .
staff events. ms tr efte












You are a creative and organized individual with excellent written and oral communication
skills and have enjoyed an employment history of increasing responsibilities in a
Human Resources environment, including staff supervision.







The ideal candidate will be able to multi-task in a fast paced environment, take initiative
and exercise sound judgment when handling confidential and sensitive issues and will
have at least 3 years related experience. A degree in Human Resources Management
or Business Administration would be a definite asset.

The position offers competitive compensation and benefits with opportunities for career growth
and development.



Seas eee RUE RNCE TAA

w

_ {f you are interested in joining our dynamic team,
please submit your resume by August 08, 2008 to:

. Manager,People
Nassau Airport Development Co.
-. POBox AP59229
Nassau, Bahamas

Only those applicants short listed will be contacted.





PAGE 6B, MONDAY, JULY 28, 2008

THE TRIBUNE



|

|



‘Not enough good ideas’ to justify rise
in venture capital fund’s $1m budget

ial Venture Fund was due to
stage Town Meetings “in one
or two months’ time” to try and
attract more interest in its

FROM page 1B

The Bahamas Entrepreneur-

CTORS HOSPITAL

Health For Life

Dilslahatcia

Responsibilities:
Provides nutrition care for af! age groups including nutrition assessment, nutrition care planning and
implementation, monitoring, and nuttition education including food and drug interaction education.

Works is colladeration with other health care professionals to support, restore, and maintain octimal
nutrition health for those individuals with potential or known afterations in nutrition status.

Contridutes to community heaith initiatives such 3s providing lectures and articies for the generat public
and media,

Provides education and training of hospitalized patients, outpatients, caregivers and hea'th care personnel
including medica: professionals concerning theories, principles and practices of nutrition care.

Provides medical nutrition therapy for outpatients and for the generai puts.
Participates in the development of hospital poticies and procedures

Requirements:
Minimum Bachelor of Science degree in Nutrition by accredited US, Canadian or equivalent institution
Masters degree prefered”
Adaitional certifications a plus {e.¢. Nutrition Support, Diabetes Educator)
1—3 years previous clinkaf nuciticn experience
Registered and licensed by the Bahamas Health Professions Council
Eucetlent communication & Presentation skills
Strong Computer skills
Salary (Commensusate with experience)

Please submit resume to: Human Resources Department
Doctors Hospital | PO. Box N-3018 | Nassau, Bahamas
or call 302-4618 | Website: www.doctorshosp.com

Royal Island (Bahamas) Limited

INVITATION FOR EMPLOYMENT

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

ADMINISTRATIVE
ASSISTANT

This position will support the Construction

Management team with all administrative needs

of the office. Some of the tasks include but are
- not limited to:

Answering telephones

Copying and scanning

Laying out presentations
Organizing Documents

Document Imaging

Taking Meeting Minutes
Miscellaneous requests as they arise

In addition, he or she will assist in the processing
of accounts payable, arrange travel and the
relocation of employees.

The successful candidate must be a team player
with excellent communication skills and will be
required to live and work at North Eleuthera.

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.



financing mechanisms from
budding Bahamian entrepre-
neurs, Mr Gomez telling this
newspaper that the intent
behind its creation had been
“good”.

He estimated that the 46
start-ups and entrepreneurs that
had received financing, either
debt or equity, to date had cre-
ated between 100-110 total jobs.

Some enterprises that had
received funding had been sole
entrepreneurs or proprietors,
and Mr Gomez said those
backed by the fund were “gen-
erally doing well, and really
benefiting the economy. They
have people employed, are pay-
ing taxes and are all filling nich-
es in the market”.

The Bahamas Entrepreneur-
ial Venture Fund’s first audit,
performed by Deloitte &
Touche (Bahamas) for the peri-
od May 18, 2005, to April 30,
2006, provided broken down
details on some 20 companies
it had provided financing to.

The audit, a copy of which
has been obtained by Tribune
Business, showed that out of 13
companies that received debt
financing from the Bahamas
Entrepreneurial Venture Fund,
some 62 per cent or eight of
these had seen the auditors
either impair or totally write-
off the value of the loans.

And when it came to the sev-

a
NAD

Nassau Airport

Development Company

Expre )

en start-ups in which the
Bahamas Entrepreneurial Ven-
ture Fund had taken equity
positions, the Deloitte &
Touche auditors had either writ-
ten down or fully impaired
stakes in four of them.

The audit totally wrote-off
the Bahamas Entrepreneurial
Venture Fund’s 30 per cent
stake in IK & L Security Com-
pany, valued at $50,250; and did
the same for its 20 per cent
stake in Ekomers.com, valued
at $52,000; and 80 per cent share
in the Illiya Group, valued at
$100,000.

The 51 per cent equity stake
held by the fund in Gadites
Maritime had been partially
impaired, the auditors reducing
it in value from $100,000 to
$68,200, a $31,800 decline. In
total, out of gross equity invest-
ments worth $602,250, the
Bahamas Entrepreneurial Ven-

‘ture Fund saw these written

down by a $34,050 provision,
dropping their total value by 39
per cent to $368,200.

On the debt side, out of
$477,383 in loans issued by the
Bahamas Entrepreneurial Ven-
ture Fund in the 12 months to
April 2006, some $283,606 — or
59 per cent — had been impaired
by the Deloitte & Touche audi-
tors.

The five companies whose
loans were not impaired were

On

The Nassau Airport Development Company (NAD) is pleased to announce
the first of many requests for expressions of interest in the Lynden Pindling
International Airport Expansion Project. NAD is presently seeking expressions
of interest for the supply of landscaping material related to the Lynden Pindling
International Airport Expansion Project. Installation may be tendered separately
at a later date to coincide with landscaping milestones.

Interested parties are requested to provide the following information with

submissions:

Corporate Background ~ how long have you been in business, focation,
size, types of materials that can be supplied, etc.

Financial Capacity - bank, account manager, financial statements

Project History — previous projects or clients, size, and value

Contact List - list of previous clients with contact information

Please reply to: Mr. Derek Thielmann, Construction Manager
Nassau Airport Development Company
Lynden Pindling International Airport
Nassau, Bahamas, PO Box AP 59229
derek.thielmann@nas.bs



Fresh Auto Centre, Profession-
al Storage, The Nassau Stadi-
um/Charlie’s Place, Melherb’s
Jewellers and Outreach Sales
and Marketing Management.

Three businesses saw their
loans fully provided for —
National Furniture, Wildav
Enterprises and Blueprint City
Company Ltd.

While the relatively high lev-
el of impairments, doubtful
debts and writedowns may
alarm the uninitiated, these fig-
ures are perfectly normal in the
venture capital world. Often,
venture capital financiers expect
between seven and nine of
every 10 businesses they finance
to fail, it being a high risk/high
reward profession.

Mr Gomez told Tribune Busi-
ness he could not provide an
update on the 2006 audit, which
was signed off by Deloitte &
Touche (Bahamas) on Septem-
ber 18, 2007, as the current

_audit was ongoing.

He had yet to discuss with the
auditors concerns they may
have about any of the
debt/equity investments,
whether any had to be provided
for in the Bahamas Entrepre-
neurial Venture Fund’s finan-
cial statements, and the sums
involved.

Mr Gomez, meanwhile, said
those entrepreneurs and start-
ups who did well had harboured
their business. ideas for a'long
time, trained and worked hard,
explored their ideas and “done
substantial preparation and
research”.

“Unfortunately, what we

' often have in the Bahamas is

someone who wakes up the
next,day and says they want to
get into business without doing
the training, preparation and
research,” Mr Gomez said.
“They’re lacking any sort of
business training.”
' Often, budding entrepreneurs
failed to take advantage of the
small business seminars that
were staged from “time to
time”. wes

Mr Gomez called ‘for the cre-

ation of a Centre for Small
Business Training to help pre-
pare Bahamian entrepreneurs.
Those who attended and com-
pleted a year-long course would
receive “a sort of diploma”, and
during the training would still
have time to research and
develop their own ideas.

“We need to look at niches,
services to support big busi-
ness,” Mr Gomez said, giving
debt collection agencies as an
example, given that many larg-
er companies were now out-
sourcing this work.

“Look at what activities
they’re doing that could be out-
sourced. What can I ask my
employer that I can do for him
when I leave his business?”

He added that the Bahamas
Entrepreneurial Venture Fund
was interested in supporting
more Family Island-based start-
ups.

“We have two existing busi-
nesses in Grand Bahama, one in
Bimini, one in Andros and
we’re looking at one possibility
in Abaco at the moment,” Mr
Gomez said. “Our intention
would be to visit those islands
and hold town meetings before
the end of the third quarter.”

To date, the Bahamas Entre-
preneurial Venture Fund has
financed 10 start-ups by taking
an equity stake in them, the
remaining 36 having received
debt financing in the form of
loans.

Out of the $3.1 million it has
invested in Bahamian entre-
preneurs and their dreams to
date, the Bahamas Entrepre-
neurial Venture Fund has allo-
cated about $1 million in equity
and the rest in debt. To date,
the fund has received $4 mil-
lion from the-Government, and
has been allocated another $1
million in the 2008-2009 Bud-
get.

Currently, the Bahamas
Entrepreneurial Venture Fund
is limited to a maximum
$100,000 loan to’any one appli-
cant, anda $200,000 maximum
equity stake.

A premier financial firm like UBS runs on exceptional talent like yours. We seek out uniquely gifted individuals who can bring

something different to our organization and offer them superb career opportunities to match their potential.

UBS Wealth Management is looking to expand its team of Senior Client Advisors /Relationship Managers into the UBS (Baharnas)

Ltd. office for the European, Brazilian, Canadian and Latin American rnarkets.

Have you been working with high net worth dients over the last 5 years of your career?

We seek candidates preferably with relevant previous work experience and who can demonstrate outstanding past perforrnance and

achievement in the areas of sales building and client management; flexible & creative; possess strong analytical and interpersonal skills;
enthusiastic and committed. A strong work ethic and personal integrity is critical and excellent lanquage skills are an advantage (e.g.

English, French, German, Spanish or Portuguese). Candidates must have a minimurn of a BA degree, preferably with an emphasis in

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To apply for this fulltime position, please send your resurne and cover letter to: hrbahamas@ubs.com

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Management

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UBS 001. Ine kay smpol and UBS are regktared ard unegktarccd traderark: OTUES. 44 rete reserved. In the Us, carunies uncerveriting tractng anc brokerage actuities, and ih 8 A atuxcry anhdties are proided by URS
Seamites LT a registered krckardealertha & awtiolk onned subs ctary of UBS AG, a rember of the New Yort Stock Exchange and other princble axchanges, anca mamizerot IPC. UBS (Bah anad Ltd. Ba subd dary ot UBSAG



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THE TRIBUNE

MONDAY, JULY 28, 2008, PAGE 7B





PM: Freeport duty rates paid ‘on
submission, not time of sale’

FROM page 1B

when GBPA licensees submit-
ted the duties, not when they
were collected.

Noting that GBPA licensees
practicing the post-paid collec-
tion of customs duties on over-
the-counter bonded goods sales
were supposed to remit these
sums to Customs by the 15th of
the following month, Mr Ingra-
ham said they “pay duty rates
applicable at that time, not at
the time of sale”.

This effectively ‘means that
GBPA licensees who submit-
ted their post-paid June collec-
tions after July 1, when the new
tax rates introduced by the
2008-2009 Budget took effect,
will end up paying the new
rates. This is despite the fact
that their June post-paid col-
lections were levied at the old
rates, which in many cases may
have been less than the new
ones, forcing some to poten-
tially make-up the difference
out of their own pockets.

The Prime Minister acknowl-
edged that this may have caused
disquiet, but it was “the way the
system works”. He pointed out
that persons often “make no
noise” when they benefit from
an action of government, and
he was not aware of any GBPA
licensee racing to give cus-
tomers a refund on items where
the duty rates had been
reduced.

Responding to the Prime
Minister’s comments, Christo-
pher Lowe, a former Grand
Bahama Chamber of Com-
merce president, said: “Irre-
spective of what the Prime Min-
ister may think, he will have

legal issues with that, because

we cannot have a man obeying
the law today, but in breach of

the law tomorrow, for what he’

did today under the law.
“At some point, the courts

are going to have to recognise
over-the-counter bonded goods
licensees as extensions of gov-
ernment. Are we not collecting
revenue on the sale of bonded
goods in a duty paid state?

“We are collecting under the
law of the day of the transac-
tion. How can we be liable for
more duty than has been col-
lected?”

The former Chamber presi-
dent said he “understood” that
the Customs Department was
now drawing up a list of all
GBPA licensees who had not
submitted their post-paid col-
lections for June 2008 by July
15, and those who had missed
the deadline would struggle to
have new imported shipments
cleared.

Mr Lowe added that the con-
fusion caused by the Budget tax
regime changes had meant it
now took “up to three weeks

to get our trailers cleared” by
Customs, although there was
speculation that a new shift
regime at the department, and
the phasing out of overtime,
may also be a factor.

The Kelly’s (Freeport) oper-
ations manager said: “There’s
a lot of lost sales going on,
because we can’t re-supply effi-
ciently. The slackness and inef-
ficiency that we have no choice
but to put up with hurts the
local economy, but also hurts
the Budget revenue. We would
have thought the Government
would try and make it more
efficient if only for its own
sake.”

The Kelly’s (Freeport) oper-
ations manager had previously
estimated that the overall
impact from the Budget tax
changes, which saw many tax
rates ‘rounded up’ — for exam-
ple, from 42 per cent to 45 per

Legal Notice

| NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

CONE MANAGEMENT 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), CONE MANAGEMENT LIMITED has been dis-
solved and struck off the Register according to the Certificate
of Dissolution issued by the Registrar General on the 7th day

of July, 2008.

Justine Mary Wilkinson
1st Floor, 17 Bond Street
St. Helier, Jersey
Channel Islands, JE2 3NP
Liquidator



THE BAHAMAS SUPPORT PROGRAM FOR TRANSFORMING

The Government of The Bahamas

EDUCATION AND TRAINING

. BH-L1003

(GOB) has secured a loan of USS$18 millil

American Development Bank (IDB) as partialBdhamasgStipporheProgram for
Transforming Education & Training tHBETEDtal cost of which is US$22.5
The project will support the develommenataod dinpdetivities aimed at i
the quality of education throughout the Bahamas.

One critical aspect odmths Poodnild capac iter smmmnginvolved in teaching

supervising students witmesdsecithrougheutentire system,

primary level age groups.

with emphasis

The Bahamas: Ministry of Educatiereekimgnothe services of a suitably
consultant to improve the overall diapaiciichy /fsttdne to deliver efficient
_the special needs populaficallypeca providebwebiici¢ysupport for curric

adaptation,

enhancedonastpicategies,

strernpihlenamd cshassroom manageme

and develop monitoring and evaluatipmasyatemsraidtive to an inclusive 4
‘

setting.

The expected duration of this cangip tanc}sGmdim-condaysttwebe delivered
over a 24 month period.

Individuals with a Masters Degree emidlightiaitidtp with specialization i
education practices and with trainmgirmnduexpartum development should
Candidates should demonstrate leadesdiyn9 delithery uati@vadf training

Special Education in hkép@akimg Caribbean.

Shortlisted candidates may be req@rimatditetitermiview before final seled

Kindl

submit resumes of notnmdr

including references

cent — would be to increase duty
rates and prices on general mer-

chandise by a 20 per cent aver-

age.

“In effect, Kelly’s is going to
collect a 40 per cent average
rate for Customs, compared
with an average 30 per cent rate
in the past. That’s generally a
tule,” he said. Customs collect-
ed on average $100 million in
duties from Freeport per
annum, with some 40 per cent
of that thought to be generated
by post-paid sales, figures that
give an indication of what is at
stake for both the Government
finances and GBPA licensees.

Apart from the ‘retroactive’
duty issue, further difficulties
have been caused by the fact





















New Providence
1. Vacant lot #1038
(6,000sq. ft.}-Garden

3. Lot #4B, Bik #1
(50°x100’) with two
storey 4 units building
west of Family St off
Solider Rd (Appraised
Value $238,000.00)

4, — Vacant lot #147
(10,557sq. ft.)-
Munnings Dr & Roy
West Lane Southern
Heights (Appraised
Value $90,000.00)

5. Lots #3 & #4
(50°x100°), Bik #47
w/duplex & shop

_(4,5328q. fi.}-Forbes St
Nassau Village
(Appraised Value
$120,000.00)

6. Lots #29 & #30,
(50°x100’), BIk #47
w/building (1,140sq.
ft.}-Matthew St, Nassau
Village (Appraised
Value $86,820.00)

7. Lots #5 & #6
(150’x 100°) w/hse-
Silver Palm Ln Imperial
Park (Appraised Value
$313,650.00)

Andros

8: Lot #119 (22, 500sq.
ft.) w/complex (3,440sq.
ft.)-Sir Henry Morgan
Dr Andros Beach
Colony Sub Nicholls’s
Town Andros
(Appraised Value
$322,900.00)

9. Beach front lot
(9,000sq. ft.)
w/building (2;100sq.
ft.) ~ Pinders Mangrove
Cay Andros
(Appraised Value
$200,000.00)

10. Property (4,344sq. ft.)
w/duplex (1.174sq. ft.)-
Fresh Creek Central
Andros (Appraised
Value $96,640.00)

11. Vacant property
150’x150° in the

settlement of
Pinders, Mangrove
Cay South Andros
(Appraised Value
$15,000.00)
Grand Bahama
12. Vacant Lot #8 Bik #12
Unit #3 (11,250sq.




















that the Customs Department
had changed the tariff rates and
headings in its computer system
to reflect the 2008-2009 Budget
changes before the old fiscal
year had been completed.

Now, Customs was unable to
reconcile the rates and tariff
headings in post-paid duty sub-
missions sent in this month for
May and June 2008 because it
had wiped these from its com-
puter system.

Freeport, through the Hawks-
bill Creek Agreement and with
the support of numerous
Supreme Court rulings against
Bahamas Customs, works dif-
férently from ail other parts of
the Bahamas when it comes to
tax collection.

~| BAHAMAS DEVELOPMENT BANK
Cable Beach, West Bay Street,
. P.O.Box N-3034
Nassau, Bahamas
Tel:(242) 327-5780/327-5793-6
Fax:(242) 327-5047, 327-1258
~ www.bahamasdevelopmentbank.com

PROPERTIES
Hills #3. (Appraised
Value $35,000.00)

Lot #338 (60°x97.24")
w/hse (1,735sq. ft.)

R.}-Henny Ave Derby
Sub Grand Bahama
(Appraised Value
$131,700.00)

13. Vacant 11,250sq. ft. lot
#19, Blk #22, Unit 5—
Lincoln Green Sub
Grand Bahama
(Appraised Value
$30,000.00)

14. Lot #15, Blk #15 Unit
#3 (90°x125’)—Derby
Sub Grand Bahama

‘(Appraised Value
$23,000.00)

| 15. Vacanttot.#25, Blk 2.
© #15, (17/8665q. fe

“Cutwater Ln Shannon >”
Country Club Sub
Grand Bahama
(Appraised Value
$38,000.00)

16. Vacant lot #110
Section #1 (12,500sq.
fi.}-Bonefish St &
Polaris Dr, Carvel
Beach Grand Bahama
(Appraised Value
$40,000.00)

17. Lot #59 (17,276sq. ft.)
Section #1 with an
incomplete fourplex—
Amberjack St &
Polaris Dr Carvel -
Beach Grand Bahama
(Appraised Value
$74,970.00)

18. Lot #2 (20,000sq. ft.)
w/building complex &
coin Laundromat—
Queens Highway
Holmes Rock
Commonage Grand
Bahama (Appraised
Value $178,600.00)

19, Vacant lot #5, Bik #31,
Section B-Royal
Bahamian Estate Sub
Grand
Bahama(Appraised
Value $31,000.00)

Abaco
_ 20. Lot #54 E (6,500sq.
ft.) W/triplex
foundation (2,788sq.

_ ft.)}-Murphy Town
Abaco (Appraised
Value $24,896.00)

21. Lot #6 Vacant 2 acres--
Fox Town Abaco

Ww



ASSETS






Freeport-based wholesalers
and retailers are able to sell
bonded goods, meaning that no
import or stamp duties have
been paid on them at the bor-
der, to other GBPA licensees
provided the goods are for use
in their own business.

Yet they also collect ‘post
paid’ duties — taxes paid after
the products are sold — if the
goods and materials are pur-
chased by Freeport residents
and individuals for use in their
homes.

In this case, Freeport’s mer-
chants calculate the duty due to
the Government ‘post import’
on its landed cost,.and remit the
correct amount to Customs by
the 15th of each month. ,

Arawak Ave Pyfrom’s
Addition (Appraised
Value $132,000.00)

_ (Appraised Value
$50,000.00)

2. Lot #51 (15,000sq. ft.)
w/building—Murphy
Town Abaco
(Appraised Value
$102,420.00)

. Lot #55 (6,900sq. ft.)
w/building—Murphy
Town Abaco
(Appraised Value
$82,075.00)

24, Lot #45 (60’x160’)
w/building (3,900sq.
ft.)-Sandy Point Abaco

ye {Appraised Value
$485,700.00) °°

“Eleuthera ~

25. Property 31'x1t1'

w/house Lord Street in

‘the settlement of

Taprum Bay Eleuthera.

(Appraised Value

$40,000.00)

26. Portion of lot #90
w/building (2,61 1sq.
ft.)~Parliament St,
Cupids Cay Governors
Harbour Eleuthera
(Appraised Value
$55,000.00)

27. Vacant portion of lot
#7 (50°x110°)~West
James Cistern
Eleuthera (Appraised
Value $20,000.00)

Cat Island

28. Property w/twelve
(12) room motel 1.39
acres—In the settlement
of Arthur's Town Cat
Island (Appraised
Value $630,000.00)

Ingaua

29. Lot #43 (90’x100’)
w/building—Russell
St, Matthew Town
Ingaua (Appraised
Value $120,000.00)

Exuma

30. Lot #8 vacant
(10,000sq. ft.)-Moss
Town Exuma
(Appraised Value
$87,000.00)

wm
wm

nm
(eS)

































: , Vessels Vehicles
work don@lectronically or in hard co to the address below s 34° Offshore Vessel (1990) Der Berry's (1) 03 Dodge Caravan
# 29° (1983) Vessel (Lady Rece) (1) 96 Ford Explorer
ere aC eeepc * 45°(1992) Defender Vessel (Liminos) (1) 97 Dodge Stratus
Aan tas oo ae oars = ue «48° North Carolina Hull (1989) (1) 01 Hyundai H-100 Bus
ee » 52° Halters Fiber Glass Vessel (1979) MV Buddy (1) 01 Kia Bus 12 Seater
P.O. Box N 3913/4 aa s 5 : ; Momsen, rekl Plaza » 39° (1985) Defender Vessel (Future C} (1) 00 Ford Ranger Truck
wenidue Wie iane- bar nee 2 51° Defender Vessel (1981) Equility ot Cee ay ord Coaster Bus
Nassau, Bahamas » 80° Custom Steel Hull Vessel (Lady Kristy) (1) 89 Chevy Caprice Hearse
* 120° Twin Screw Steel Hull Vessel (1978) with (1) 00 Toyota Coaster Bus

Attn: John R Haughton, Project Manager
Telephone: (242) 325-4725/4748
Emai htonidbproject@yahoo.com

(2) Detroit Diesel V16-92 engine, fully loaded (1) 03 Toyota Coaster Bus
® {22° Single Screw Steel Hull (1960) MV Lisa JI, (1) 02 Kitchen Van Trailer
vessel has a new engine requiring installation. And
can be view at Bradford Marine, Grand Bahama







The public is invited to submit Sealed bids marked "Tender" to Bahamas Development Bank, P.O. Box N-
3034, Nassau, Bahamas attention Financial Controller, faxed bids will not be accepted or telephone 327-
5780 for additional information. Please note that all bids on the aforementioned properties and assets
should be received by or on August 2, 2008. The Bahamas Development Bank reserves the right to reject
any or all offers. All assets are sold as is._ ‘











PAGE 8B, MONDAY, JULY 28, 2008

THE TRIBUNE



Network technology to save BIC $2m

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

THE Bahamas Telecommu-
nications Company (BTC) will
save over $2 million in energy

costs and system maintenance
through its decision to migrate
from its traditional network to
an IP-based infrastructure from
Sonus Networks Sonus.
Michael Kane, Sonus Net-
works’ managing director for
marketing solutions, told Tri-

PRT ES a7
ea MAAS ET RTL
RS Me RE dere a ID

Legal Notice

NOTICE
GOLANI MONUMENT LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above named
Company is in dissolution, which commenced
on the 29th day of May 2008. The Liquidator is
Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.

bune Business that the
Bahamas will benefit immense-
ly from the new system, as it is a
major advance in the conver-
gence of voice and Internet ser-
vices.

“This will give the people of
the Bahamas a world-leading
communications infrastructure.
By migrating from the tradi-
tional network to an IP-based
infrastructure from Sonus Net-
works, BTC is making an
investment in the future of the
Bahamian Commonwealth's
communications industry by
providing a network that will
enable it to maintain a lead over

future competitors and be
responsive to subscribers'
needs,” the Sonus executive
said.

Mr Kane added that BTC
was ahead of many major carri-
ers in its adoption of IP-based
telephony, and therefore was a
perfect fit for his company.

“With this deployment, BTC
is taking a leap forward, and the
Sonus solution is enabling the
company to deliver new services
to both business and home sub-
scribers on the Bahamian
Islands,” he said.

Mr Kane said that while he
couldn’t discuss the value of the

project, it will bring about a sig-
nificant reduction in the amount
of equipment needed to man-
age the growing traffic across
BTC's network, when com-
pared to its existing legacy sys-
tems.

“BTC estimates that, by
choosing Sonus technology, it
will save over a $1 million a year
in energy costs alone, and
approximately another $1 mil-
lion a year in maintenance and
upgrades,” he added.

Mr Kane said another benefit
to the system implementation
was that it also involved a dis-
aster recovery site located in

Miami, which will allow BTC
to quickly recover its commu-
nications network should a hur-
ricane cause outages in Nassau.
This would significantly reduce
downtime for customers.

Mr Kane pointed out that
there were several challenges
facing the Bahamas with regard
to its telecommunications infra-
structure. “The cost of power
is very expensive, especially in
the outer Family Islands. The
weather poses an additional
challenge because it is difficult
to maintain network resiliency
due to hurricanes and other
environmental conditions.”

Realtor chief eyes Act reform
sign-off ‘in the next month’

FROM page 1B

Local attorneys benefit, but ay
can’t local real estate practi-
tioners also become a part of
the flow of business.

“After all, the concessions

which are received by the mega:

developers are Bahamian tax-
payers’ concessions, and such
concessions should be recipro-
cated and rewarded by helping

Legal Notice

NOTICE
FAXUM SLOPES INVESTMENT INC.

(In Voluntary Liquidation)

as many local business interests,
including real estate brokers.”

Elsewhere, Mr Wong
expressed disappointment that
the construction-related duty-
free Tariff Act and Excise Act
incentives under the Family

INSIGHT

, For stories hetind news,



—_—

Islands Development Act had
not been extended to the likes
of Abaco, Exuma and
Eleuthera.

These islands were just begin-
ning to develop sustainable eco- .
nomic growth, and BREA

‘ members in those islands had

expressed concern over that.

“T also have a real concern
that with the weakening econo-
my and with so many people
now losing their jobs, there will
be few persons coming forward
to take advantage of these mea-
sures.

“So the initiatives in the Bud-
get, in and of themselves, may
not give the economy the lift
that might be expected.”

Notice is hereby given that the above named
Company is in dissolution, which commenced
on the 9th day of June 2008. The Liquidator is
Argosa Corp. Inc., P.O. Box N-7757 Nassau, .

Bahamas.

(Liquidator)



Legal Notice

NOTICE
Royal Island (Bahamas) Limited

INVITATION FOR EMPLOYMENT
Food & Beverage Manager

CROPOVER FEST LIMITED

(In Voluntary Liquidation)

ARGOSA CORP. INC.

(Liquidator) Notice is hereby given that the above named

Company is in dissolution, which commenced |
on the 29th day of May 2008. The Liquidator is
Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Bahamas.

Royal Island is an unmatched private island Resort
Development located 6 miles off North Eleuthera. The
432-acre island resort will feature a 90 room boutique
hotel & spa operated by the renowned Montage Hotel
Group and a Jack Nicklaus golf one scheduled to

Legal Notice
open late 2010.

NOTICE
CORPORATION STELLA INC.

(In Voluntary Liquidation)

We are currently seeking a highly skilled and dedicated
Food & Beverage Manager to assist in managing our
luxury Preview Village located on the island, and to
be involved in the initial set up of the Montage Hotel
food & beverage facilities.

ARGOSA CORP. INC.
Notice is hereby given that the above named (Liquidator)
Company is in dissolution, which commenced
on the 17th day of July 2008. The Liquidator is

Argosa Corp. Inc., P.O. Box N-7757 Nassau, |
Bahamas.

An excellent remuneration package will be offered
together with relocation assistance.

Please direct enquiries or correspondence to:

Rebecca Jarkin@royalislandbahamas.com

Or post to:

Legal Notice

NOTICE
ECOLOGY VALLEY LTD.

Rebecca Larkin

Human Resources Manager
Royal Island

P.O. Box EL27072
Dunmore Town

Harbour Island,

Bahamas.

(In Voluntary Liquidation)

ARGOSA CORP. INC.

(Liquidator)
. Notice is hereby given that the above named
Company is in dissolution, which commenced
on the 19th day of June 2008.. The Liquidator

is Argosa Corp. Inc., P. O. Box N-7757 Nassau,
FG CAPITAL MARKETS

BROKEBAGE & ADVISORY SERVICES

Bahamas.

Eo

crFA LL”



ROYAL @FIDELITY

ee ARGOSA CORP. INC.
Bahamas Property Fund (Liquidator)
Bank of Bahamas
Benchmark

Bahamas Waste

Fidelity Bank

Cable Bahamas

Colina Holdings
Commonwealth Bank (S1)
Consolidated Water BDRs

29
o°0
ooo

Legal Notice

NOTICE

GOLDEN HARVEST
INVESTMENT INC.

(In Voluntary Liquidation)

Doctor's Hospital
Famguard

Finco

FirstCaribbean Bank
Focol (S)

Focol Class B Preference
Freeport Concrete

ICD Utilities

J. S. Johnson

sonaninere Real Petree eae

ggog29000000
660N60266

eo99999999999099000

geooo000o
oo0000

scampmariorne

S2wk-Low ‘'s imbol Last Price
14.25 Bahamas Supermarkets 14.60
6.00. Caribbean Crossings (Pref) i . 6.00
0.20 RND Holdings |

S2wk-Hi
14.60

Weekly Vol. EPS

41.00 ABDAB
14.00 Bahamas Supermarkets
0.40 RND Holdings

Notice is hereby given that the above named
Company is in dissolution, which commenced
on the 17th day of July 2008. The Liquidator is
Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Fund Name NAV
Colina Bond Fund 1.323145°°"
Colina MSI Preferred Fund 2.990639°""
1.3467 Colina Money Market Fund
3.3971 Fidelity Bahamas G & | Fund
11.6581 Fidelity Prime Income Fund
100.0000 CFAL Global Bond Fund
98.2100 CFAL Global Equity Fund
1.0000 CFAL High Grade Bond Fund
9.5611
1.0000
1.0000
1.0000

52wk-Low
1.2576
2.7399

3.6007°**
12.2702***
100.00*°*
99.956603"*

Fidelity International Investment Fund
FG Financial Preferred Income Fund
FG Financial Growth Fund
FG Financial Diversified Fund

Bahamas.

ee Market Terms z
xX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 iv’
S2wk-Hi - Highest closing price in last 52 weeks Bid S - Buying price of Colina and Fidelity
S2wk-Low - Lowest closing price in last 52 weeks Ask $ - Selling price of Colina and fidelity
Previous Close - Previous day's weighted price for daily volume Last Price - Last traded over-the-counter price
Todays Close - Current day's weighted price for daily volume Weekty Vol. - Trading volume of the prior wook
da EPS $ - A company’s reported earnings per share for the last 12 mths
NAV - Net Asset Vatue
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100



* 31 March 2008
** - 31 December 2007
** ~ 30 June 2008
** 31 Apr 2008
- 31 May 2008
- 27 June 2008



sing price

ARGOSA CORP. INC.
(Liquidator)

for-1 Stock Split - Effective Date 7/11/2007 .
6 TRADE CALL: CFAL 242-602-7010 FIDELITY 242-556-7785 ¢





THE TRIBUNE



Re: LNG article by
Alan Jackson

Aaron Samson, managing
director (LNG), AES
Corporation, offers the
following statement in
reply to an article
appearing in INSIGHT:

nder the headline
“Teacher Responds
to Financial Expert

on Liquefied Natural Gas:
LNG: ‘potential losses”, The
Tribune published an article
written by a teacher called Alan
Jackson (July 14, 2008), who

offered his remarks in opposi- -

tion to an earlier article writ-
ten by financier Richard Coul-
son supporting the establish-
ment of the LNG facility pro-
posed by AES Corporation for
Ocean Cay in The Bahamas.

Mr Jackson’s commentary is |

filled with a number of factual
inaccuracies drawn from inac-
curate statements made about
six-year-old data.

Such misleading information
does a disservice to Bahamians
who seek reliable information
on which to base their decisions
regarding the AES LNG pro-
posal and should be corrected.
It remains difficult for me to
believe that a schoolteacher
made so many errors.

It is amazing, but it appears
that Mr Jackson did not make
use of one: of the most up-to-
date sources on LNG import
terminals and storage facilities,
especially those in the United
States. A quick check of the
Federal Energy Regulation
Commission’s website
(http://www.ferc.gov/) would
have cleared up many of Mr
Jackson’s misconceptions, and
he would thereby have avoided
misleading readers of his article.

Contrary to what Mr Jackson
implies, the LNG industry is a
dynamic industry worldwide
and certainly in the United
States, because LNG, as one of
the? safer, cleaner alternatives
to gil>will ‘continte to playa

tainable energy future.

Following are facts that clear-
ly contradict what appear to be
Jackson’s main points against
the establishment of an LNG
terminal.

Table 1 in the Jackson
Article

Jackson: “You ‘will notice in
table one a listing of all the
existing import LNG terminals
in the lower 48 States. It gives
their current and planned stor-
age capacity in billions of cubic
feet of gas (BCF). Realise that
since this came out, most expan-
sions envisioned like that at
Everett have not happened, due
to local objections.”

Facts: This could not be fur-
ther from the truth as the easily
documented facts are that all
expansions listed in the Table 1
to which Mr Jackson refers
were approved and are now in
operation. Additionally, two of

@

for ad rates



cise Wy
Aaron Samson



the facilities listed have been
approved for ‘a second expan-
sion. ‘

Jackson’s Table 2

Jackson: “But what about -

those other proposals in table
two? Not one of them has been
approved,”

Facts: The facts regarding
LNG facilities approved by
FERC are again completely
contrary to the schoolteacher’s
claims. Eight of the proposed
terminals from Mr Jackson’s
Table Two ‘have been
approved. Four of them now in
operation and three of them are
under construction.

In addition to those facilities
already under construction or
in operations, the US, Mexico
and Canada have approved a
total of 24 new LNG import ter-
minals. .

Storage Capacity of Proposed
Ocean Cay’Terminal ~

majortolefatihgovorld’y susagy, Jackson: “With a storage

capacity of 3.5 BCF and the
proposed storage capacity of
200 BCF, Boston is not good
target material...Are terrorists
interested in the 70 or 80 LNG
plants operating around the
world? How about a facility
that’s 40 times larger than the
Everett tanks in Mass. Now that
would be a juicy target!”

Facts: Now we need to review

the most egregious misrepre- -

sentation made by the school-
teacher. Jackson is confusing
storage capacity with through-
put.

The 3.5 bef he notes for
Everett, Boston is accurate, but
the plans for the facility at
Ocean Cay call only for 7.5 bef
of storage. capacity and not the
extreme 200 bcf Jackson quotes.
This means that Ocean Cay
would have double the capacity
of the Everett facility and would
not be 40 times bigger in stor-
age, as Jackson has claimed.

Additionally, the proposed

AES terminal would be sub-
stantially smaller than six of the
eight operating US terminals
and not eight times larger than
the entire US LNG import
capacity as reported by Jack-
son. The proposed AES termi-
nal will not be the super-sized
terminal supplying the Ameri-
can east coast as suggested by
Jackson, but would be a rela-
tively small terminal by US
standards, supplying 25 per cent
of Florida’s gas demands and
displacing most of BEC’s New
Providence diesel demands.

Furthermore, Jackson has
represented objections to the
Boston facility as a major point
in support of his argument, but
he is unfortunately comparing
snappers to groupers.

The Boston facility is sited in
close proximity to a large pop-
ulation, where LNG ships
entering Boston Harbour pass
within 500 feet of waterfront
hotels.

On the other hand, the pro-
posed Ocean Cay facility would
lie nine miles from the nearest
population centre. In striving

for a truer picture, it is impor- °

tant to compare like situations.

Schoolteacher — Sad Failure
to Do Homework

If you take away all of the
erroneous and easily debunked
figures and other information
in Jackson’s article, the meat of
his argument falls through and
leaves behind a mixed bag of
unrelated ideas.

Especially confusing is the
reference to terrorist activity in
Bali, which was not related to
LNG and had a lot of history
that Jackson did not relate. As
the FERC website notes, there
are approximately 40 LNG
import terminals worldwide
with many more under con-
struction or planned.

LNG import terminals exist
in Japan, South Korea, Cana-
da, Mexico and Europe, as well

MONDAY, JULY 28, 2008, PAGE 9B

THE DEPARTMENT OF STATISTICS
AVERAGE QUARTERLY PRICES FOR SELECTED ITEMS; NEW PROVIDENCE:

SELECTED QUARTERS 2006 — 2008
$B
2008
2nd

2006
2nd
quarter quarter

5 Ibs 3.05 3.56 -

2007
2nd -
quarter

Sweet pepper 2.10

Tomatoes
Limes\lemons
Onions

Rice

Canned milk
Butter



fe

Canned tuna
Stew beef
Air conditioner



HIGHLIGHTS

The price of butter has constantly been on the rise. During the second quarter of
2008, the average cost for a 4 Ib of butter increased by 72% when compared to the
second quarter of 2006. :

H ; |
) Between the second quarter of 2006 and 2007, the price of canned milk increased by
¢ 3%, however, between the second quarter of 2007 and 2008 the increase in cost

~ escalated by 28%.

/ The cost of rice has been on the constant increase. During the second quarter of
2007 the price increased by 2.3% from 2006. Between the second quarter of 2007 and
2008, a further increase of 14% occurred.



: has. eight LNG. import. termi,....,.
nals, one export terminal in

‘tial to yield significant benefits

20 ETT EEA ETT REM, MTL RNY RIEL AI



ye

as in the United States. The US "visit the Department Of Statistics on the world wide web@ statistics. bahamas. gov. bs

Alaska and a great many LNG
storage facilities throughout the
country.

The bottom line is, the US
and the rest of the world are
accepting and building LNG
terminals when located at safe
and secure sites such as the one
proposed by AES at Ocean
Cay.

The Bahamian public can rest
assured that the facility pro-
posed for Ocean Cay has had
the benefit of extensive plan-
ning and environmental impact nal
assessment and has the poten- {IK Br |
for The Bahamas and its peo-
ple.

esign






















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PAGE i0B, MONDAY, JULY 28, 2008

last crucial connections
with the Oakes affair...

FROM page 12B

ure added: “With Levi Gibson’s
death, there is now no chance at
all of ever learning the whole

truth about the death of Sir

Harry Oakes. He was the last
person with direct links to the
characters involved. He was
probably the one surviving per-
son who really knew the whole
story. Incredibly, over a:period
of more than 60 years, those
who were best-placed to know
what happened maintained
their silence.”

Undoubtedly, Gibson’s close-
ness to Christie, his position as
gofer-factotum, driver and con-
fidant for The Bahamas’s most
successful land salesman, would
have made him aware of much
that went on in Nassau society.

He would almost certainly
have been aware, for instance,
that.Christie and Oakes - for all
their friendship, which was deep
and genuine - were seriously at
odds over certain land dealings,
and that Oakes suspected his
protege of double dealing.

He would likely have been
aware, too, that Oakes was
preparing to leave The
Bahamas for Mexico at the time
of his death, taking his family
and his wealth with him.

And, most importantly, he
would have been aware of the
growing animus and mistrust
between them, partly because
Oakes had developed the
impression that the younger
man - an ambitious go-getter,
for all his apparent diffidence -
was seeking to build a fortune
off his back.

It’s possible, though by no
means certain, that Gibson also
knew of Oakes’ growing suspi-
cion of the family lawyer, Wal-
ter Foskett who, it later tran-

spired, had feared confronta- '

Hi
i
i

3
t

See poo

| GOVERNMENT NOTICE

"DEPARTMENT OF

,, PUBLIC SERVICE

j
fy








“During the 16 years following the murder,
no fewer than 16 people died mysteriously

in Nassau for their suspected knowledge of,

or meddling with, the disturbing details of Sir
Harry's demise. One of them was an American
woman investigator whose body was discovered
upside down in a banana hole. Another was a
former associate of Christie's who was thought
to be talking too much during confused

moments in her twilight years

tion with Sir Harry after swin-
dling him in a-deal involving
two paintings, including a Rem-
brandt.

Gibson collected Foskett
from the airport the morning
after Sir Harry’s death, the
lawyer having flown in from
Florida, where he had built up a
successful practice representing
the interests of super-rich Palm
Beach expatriates.

Given the irascible Sir Har-
ry’s threat to “straighten out”
Foskett for betraying his trust,
it’s hard to discount the lawyer’s
involvement in events leading
up to the. baronet’s death.

It’s the Oakes-Christie rela-
tionship, however, that has
always been considered central
to this intriguing affair.

Christie and Oakes had
become so close, in fact, that
observers felt they were begin-
ning to walk alike, sharing an
unfathomable affinity which
made one begin to resemble the

is iho

Other. Moreover, Christie’s ©

GN-719

a) caus

he following persons who retired from the Public
«Service between the period July 2007 and June

‘230th, 2008 are asked to contact Mrs Andrea

Deleveaux at the Department of Public Service at °

503-7305 as soon as possible:

Wesley O. Dorsette

”
eee

business, founded 11 years ear-
lier, was riding by all accounts
on money loaned by the big-
hearted Canadian.

Had Oakes moved out, The
Bahamas economy would have
been dealt a significant and pos-
sibly lethal blow, leaving the
heavily indebted Christie with
little or no foundation for his
growing realty empire.

It’s no exaggeration to say
that Nassau, at that time a
meaningless sliver of empire liv-
ing off Oakes’ largesse, would
have imploded economically
had the family decamped.

Gibson was no fool. During
days when black and white were
aeons apart socially and eco-
nomically, he rose from office
boy at H G Christie and Com-
pany to become right-hand man
to arguably one of the most
influential white figures of the
age, an international wheeler-
dealer who “sold” .The
Bahamas to foreigners as a

‘tropical refuge for the supér+

rich.

Christie trusted him ‘to the
point where Gibson was virtu-
ally an appendage, an indis-
pensable component in his
climb to global prominence as a
realtor. ,

While Christie was away on
his European and North Amer-
ican sales jaunts, trying to lure

big money to his beloved .

Bahamas, Gibson was taking
care of affairs back home, an
employee whose solicitude and
loyalty were never in doubt.

SInmCnt et as

Levi Gibson one of the

— Jobn Marquis,

For years after Oakes’ death,
the talk in Nassau was of a
group of men being seen climb-
ing the outside stairs towards
Sir Harry’s bedroom at West-
bourne on the night of his mur-
der.

It was speculated that these
men bludgeoned him brutally
before setting his body on fire in

a bid to destroy all clues in the .

process. A flash of flame was
seen before being quickly extin-
guished.

Inevitably, as suspicions grew ~

over Christie’s involvement,
various associates fell into the

‘frame as possible accomplices,

including Sir Harold’s brother
Frank, a much more abrasive
and aggressive character than
the retiring Harold, whose qual-
ities were always somewhat
understated.

As speculation ebbed and
flowed over the years, Levi Gib-
son not only maintained a quiet

@.was Governor of The Bahamas at t

composure, but steadily went
about his business, counting
many prominent Bahamians
among his friends, and acquir-
ing substantial wealth through
his company, Levi Gibson Real
Estate Ltd. |

History will be left to judge
him, therefore, on.the facts as
known rather than the rumours

that ran rife in the byways of |

Nassau, but which added colour,
and little else to the continuing
Oakes saga.

Born in Simms, Long Island,
on April 5, 1914, he left school
at 14 - a poor boy, by his own
description, who rose to mix
with the highest in the land.

Among those he befriended
were the Duke of Windsor,
Governor of The Bahamas at
the time of the Oakes affair,
and A F Adderley, junior pros-
ecutor in the trial of Count
Alfred de Marigny.

He was also close to both Sir

THE TRIBUNE



LUT

Roland Symonette, first pre-
mier of The Bahamas, and Sir
Lynden Pindling, the first prime
minister. Though of humble

’ birth, and modest means in his

early days, Gibson spent much
of his life as a respected pillar of
local society.

After spending 43 years with
Sir Harold Christie, he left to’
launch his own trucking firm
and then, in 1967, the realestate
company of which he was pres-
ident.

Only two years ago, fellow
members of the Kiwanis Club
honoured him for his drive and
leadership in the movement’s
early years in this country.

In 1993, Gibson told an inter-
viewer: “I am a firm believer
that no good is ever wasted,
particularly if you do it from
the heart.”

When he died at Doctors
Hospital last week, surrounded
by relatives’ and friends, Levi
Gibson was hailed as a solid cit-
izen who earned an honour
from the Queen and played his
part in civic life.

In sport, music, business and
good works, he came over as a
proud Bahamian with a love for
his country.

If there is one negative con-
sideration to be set against his
name, it is that he remained so
silent about an event which not
only led to the death of Sir Har-
ry Oakes, but also laid the pat-
tern for selective justice, intim-
idation and victimisation which
has so bedevilled The Bahamas
over the last six decades.

As he passed on, precious

Randolph Cecil Rolle | é
P i nowledge about recent
Mary Louise Johnson — Bahamas history died with him.
Barbara Carey Like so many others close to
Denver W. Dames Se
Ronald Frederick Thomas ee
Muriel Rolle - ° What do you think? Fax
Beverley Russell 328-2398 or e-mail
cece jmarquis@tribunemedia.net
Lagrimas Sambar .
_ Albena M. Seymour
McDonald Thomas Sawyer’ zetany a
Emeretta Sherman red ea
Rosalie Mae Stubbs aaa
Wellington King ay 5
©» Andria Elizabeth E. Archer Sars a stare F ° h °
~ §tanley Fulford iS in
“Bijan ‘Eller, Glass Bottom Water Buckets g

Philabertha L. Carter *
Sharon Farquharson

Fishing Lines & Hooks .



Spears
$IPI65









Joan Lillian Coakley ~ Fishing Accessories anne net
ae Mesh Diving Bags on a

eon Alexander Wilson
Mark Anthony Wilson r The Tribune wants to hear
Jenetta Doretta Morrison iT a Reels Sseason el from people who are
shutiey labet pe SCE aa Se ntlitionds Perit
Priscilla Eloise Armbrister cacaiaite finde t :
Masks you are raising funds for a
Frank Brown good cause, campaigning
Sheila Mae Culmer (e7e} | es for improvements in the
Ralph Henry Brennen 99 area e: have won an

award.

Jenny Mae Neely - Trained Teacher
Pedro O. Rolle

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

and much more ©





THE TRIBUNE

MONDAY, JULY 28, 2008, PAGE 11B



Re: Politics needs
professionals

Dear Mr Marquis,

I HAVE just read your arti-
cle of today, 7.7.08. Once again,
good work.

If you want to print this, I ask
you do not print my name as |
am frequently reminded (just
last month in my monthly
supervision meeting with my
supervisor) of the last letter that
was printed carrying my name.

Please allow me to ask:

1. Are permanent secretaries
not the “general managers” of
their respective ministries?

2. If yes, would this not
remove: the need for the
appointed ministers to have
much to do but present “policy”
to these “managers” to carry
out?

3. If the permanent secre-
taries were given full run of
their respective ministries would
the country not run better?

& If paid proper salaries and
given an executive-style job
description that is known to all
and the cabinet secretary, hav-
ing the power of administration
at this “executive level” be giv-
en the power to report quarter-
ly on their performance (includ-
ing attendance records, new
policy implemented on time,
etc) and the power to remove
poor performers?

..would there be a need to
appoint any other than the
political misi§ts to the cabinet?

_ If the system is allowed to
work the way it was created to
work, with minimal interference
at the ministerial level, we
would see the difference imme-
diately.

A case in point is the local
government elections. If

rumour is to be believed, the.

permanent secretary advised
the minister of the problems
associated with the process but
he was overruled by the minis-
ter.

Sir, I am of the view that both
parties need to be replaced by
everyday working folk who
want better for their country
and not lawyers who look after
their interest(s) and tlfat of their
fellow lawyers, even those in
the “other” political party.

This would also allow the

laws to be changed to allow-pro-

fessional persons from the com-
munity to be appointed sena-
tors and made cabinet minis-
ters (we would/should pay: these

people more than the present -

salaries, though).

I say this because I am,con-
vinced! ‘that pecnie | Ahr
social elite, lawyers, will never
do away with existing laws to
allow “other” persons to enter
the House or for them to intro-

. duce government-funded cam-

paigns for persons nominated

by 2/3 of the electorate in the
constituency freeing the way for
the store owner, schoolteacher,
mechanic, policeman, nurse etc.,
to have a chance. -

I offer these thoughts...

— Regular Reader

TODAY ’S Insight has to be
in the top ten — you are right
on target, 1etting these people
know that they should not be
where they are, never run noth-
ing in their whole lives, as you
said not even their household
successfully, now they have
become experts in telling you
what is best for you (what BS!)

What is your take on Ken —

Russell, another lost soul?
Can you address the deport-

ment of these so-called leaders

on their dress in that so-called
Honourable House, Picewell
Forbes in particular, who had
on a cream-coloured suit at a
House sitting recently. What
happened to the standard dark
wear? Do they know any bet-
ter? These are our leaders, God
help us.

I feel sorry for the PM, who is
a good friend, and what he has
to deal with, not much. Thank
God that he has the courage to
go outside and bring in profes-
sionals to help Him.

I can do all things through
Christ which strengtheneth me.

— Kelly D. Burrows

YOUR article in the Insight
section of today’s Tribune - Pol-
itics needs professionals — is a
timely and intelligently argued
piece.

— Deshon Fox

OBIE Wilchcombe talking
about Neko Grant is like the
pot calling the kettle black.
And for my money, Obie is the
worst Minister of Tourism this
country has ever had. He is the
reason Vincent Vanderpool-
Wallace left.

— Stephanie Toote

Dear John,

Because I regard you as a
“transplanted” Bahamian of the
highest order, please accept my
congratulations on the 35th
anniversary of the, Common-
wealth of The Bahamas as a so-
called “sovereign” nation.-Our
journey still lies ahead of us but
I am persuaded that we, as a



IANA A LST LNT OO

ave: ans at all fe brag te ‘

‘if repo

he
jou?
tahie?

A a of the front page of inl) nna, meena i INSIGHT...

‘united’ people, will cross over
into the fabled ‘land of milk and
honey’.

There have been many casu-
alties and I am sure that many
more will fall by the wayside.
As we evolve politically, how-
ever, and with the Rt Hon
Hubert Alexander Ingraham,
MP, PC (FNM-North Abaco)
at the helm, The Bahamas will

‘go from strength to strength.

One may not always ‘agree’
with the PM but his recent cab-
inet shuffle and realignment
were just what the doctor
ordered. for The Bahamas.
Removing Neko Grant (FNM-
Lucaya) from tourism was a
master stroke. In one year as
minister, Grant, for reasons
known only to himself, ‘refused’
to appear on-any talk show,

especially ‘REAL TALK :

LIVE?’ which I host. His sched-
ule never. permitted it, yet he
was to be seen at various func-
tions with foreign and native
‘dignitaries’ sipping a lil white
wine or whatever else that may:

have been in the glass.

Grant may have meant well
but he was out of his league at
tourism. I welcome the bold and
innovative appointment of Min-
ister Vincent Vanderpool-Wal-
lace as substantive Minister of
Tourism. He will make a. big
difference to the productivity
and efficiency at that ministry.
Congratulations Vincent (an old
classmate at GHS). A ‘techno-
crat’ is needed at this time.

The Hon Tommy Turnquest
(FNM-Mt Moriah) is not suited
for the post of Minister of
National Security. He has
absolutely no experience or
training in this vital area. In fact,
his ‘known’ persona and physi-
cal characteristics, with all due
respect, do not lend themselves
to a successful stint as Minister
of National Security.

I wonder how the Acting
Commissioner and his top brass,

such as they might be, view

Minister Turquest...like a

youngster in short pants or like ©

MONDAY —

a person whom they must defer
to?

I am‘certain that the PM
‘owes’ Turquest a spot in the
cabinet but such a sensitive and
far-reaching one? Not in my
opinion. Perhaps he should
have appointed him as Family
Island Development Minister,
while remaining Leader of Gov-
ernment Business in the House.

Whatever happened to the
Hon Kendal Wright (FNM-
Clifton)? He has yet to be
appointed to any ministry or to
a ‘real’ job within the FNM

RR

administration. Why is this the _

case? Wright is my cousin and a

talented former broadcaster. :

One would have. thought that
he would have been a natural fit
as Minister of Information and
Propaganda (for want of a bet-
ter name). Yet, so far, he
remains on the outside of the

_ cabinet looking in. Treating

Wright like this cannot be right.

I.don't like what is going on

- within the Ministry of Culture.
It seems as if culture is only
about junkanoo and not the arts
‘generally. No plans on the
board for the National Library
and Anthropological Museum?
No easy access to the Centre
for the Performing Arts after
dark? The so-called National
Art Gallery at West Street is a
joke of what it should be.
Where are the public venues
where artisans, poets and
craftspersons can practise and
display their crafts? People Like
Rudy Grant, my boy, are seem-

ingly ignored and relegated to
the back of the bus by Minister
Maynard.

Former Minister of State for
Immigration, Mrs Elma Camp-
bell Chase, is a learned lawyer
but she never, in my opinion,
got a grasp on her portfolio and
spent too much time talking
about the celebrated ‘consen-
sus’ of. illegal or other foreign
nationals in The Bahamas.
What were the results of the
much ballyhooed exercise in
futility?



SATURDAY

10 A.M. - 2 P.M.



Celebrating 3 years



The stories beh ind tie news



Minister of State for Finance,
the Hon Zhivargo Laing (FNM-
Marco City) is a good Christ-
ian brother and he means well.
I have a serious reservation,
however, with what is turning
out to be a potential ‘fiasco’
over the government’s appar-
ent insistence that we are going
to sign on to the so-called Eco-
nomic Partnership Agreement
with Europe regardless of the
stark absence of detailed infor-
mation and public debate.

This is not the way one builds
a nation. Either we are going
to have full consultation or we
are going to develop a political
system where an elitist oligarchy
‘rules’. the unwashed masses.
Why are we signing on to a ser-
vice clause when this, accord-
ing to experts like attorneys Bri-
an Moree and Paul David Moss,
is not necessary at this juncture?

What Minister Laing should
be concentrating on right now is

public sector reforms and ratio- ©

nalisation of part-time and per-
manent contracts of employ-
ment. He should also be burn-
ing the midnight oil to find ways
and means for us to reform our
taxation systems. The creation

of ‘economic zones’ within New
Providence and Grand Bahama
are also what he should be look-
ing at instead of ‘worrying’
about Bacardi, lobsters and
plastic.

The PM could have better
utilised the talents and skills of
Ministers like the Hon Branville
McCartney (FNM-Bamboo
Town) and Hon Byran Wood-
side (FNM-Pinewood).

Immigration should have
gone to Branville as a stand-
alone ministry. Woodside would
also have been a natural for the
Ministry of Youth and Sports
instead of being ‘exiled’, after a
hard fought victory in
Pinewood, to the Office of the

. Prime Minister.

I do not feel comfortable with

the Hon Minister of Foreign .

Affairs and Deputy Prime Min-
ister holding ‘sway’ over this
vital department, considering
his voluminous and extensive
business holdings and shares in
numerous public entities which
require large and massive num-
bers of ‘white’ expatriates.
Mind you, I do not suggest
or even imply that he would do

‘anything out of order but not

only must the ‘wife’ of Caesar
be ‘clean’ and above board but,
more importantly, she must
‘appear’ to be so.

Mr Symonette already has
too much to do and, in the year
since he has been in office, what
has he accomplished that we
know about?

What role will he play down
at Arawak Cay and will any of
the reputed properties owned
by he and/or his family (Symon-

ette’s Shipyard, et al) be eligible .

for ‘redevelopment’ under the
Downtown Redevelopment
Act? Will any be ‘sold’ or will
the government have right of
first refusal? .

A simple electronic padipot
cannot be accessed without a»

great wastage of time, effort and
money, despite a multi-million
dollar machine which is sup-

- posed to generate these pass-
ports. In the meantime, Minister '

Symonette plays ‘cute’ with his
public remarks and. bemoans
the fact that The Passport
Office is ‘short staffed’. Well,
blow me down!

The cabinet is still too big and
The Bahamas.can ill-afford to
be paying all of these outra-
geous salaries and ‘unknown’
perks. By now, the PM must be
poignantly aware that no matter
what the Progressive Liberal

242-461-1000 | www.babfinancial.com

Freeport 242-352-7209 Exuma 242-336-3035 Abaco 242-367-5601

Party (PLP) tries to do, judi-
cially or extra judicially, -he is
large and in charge until a major

_scandal erupts or until 2012, if

The Lord tarries.

And so, yes, we do need ‘ pro-
fessionals’ in parliament but
senior ministerial posts should
only be given to persons who
offered for elections and were,
in fact, elected. In my view, the
appointment of the Hon Vin-
cent, Vanderpool-Wallace was

. a good’ business decision.

Politically, however, the PM

has made many “enemies” with-
in the ranks of the FNM;by
‘skipping’ over and ignoring
long-time FNMs and elected
backbenchers for elevation.
Being Primus Inter Pares can-
not be an ‘asy’ job. Indeed, well
has it been written ‘Uneasy lies
the head that wears the crown’.
To God then, in all things, be
the glory! |

— Ortland H. Bodie, Jr.

I NOTE with interest your
castigation of Ministers Neko
Grant and Tommy Turnquest
and former Minister Sidney
Collie and offer no comment to
same save and. accept
your assertion that ‘Dramatic
measures are required on the
crime front if Mr Tommy Turn-
quest, the Minister of National
Security, is to be allowed to stay
in his present post.’ .

With the greatest of respect,
under the Bahamas system of
governance the Prime: Minister
has always been the de facto
Minister of National; Security
and chairman of § the
Bahamas National Security
Council. The Prime Minister
meets regularly with the heads
of the Police and Defence
Forces and gives directions ‘as
he deems appropriate. There
are no major decisions in the
RBPF and RBDF taken with-
out the Prime Minister’ s nowl-
edge ‘and-consént..’.

In light of the'foregoing, i
logically follows, applying Jobin
Marquis’s Logic, that’Mr ngra-
ham’s job indeed truly remains
incomplete and that he, Ingra-
ham, should resign forthwith.
Your. newspaper appears to
have a serious problem in
directly criticising Hubert Ingra-
ham, Mr Untouchable!’ which
appears to also apply to Brent
Symonette.""

— Regards



Bradley B E Roberts, former 4

MP and Cabinet Minister of
The Bahamas... .,.

merican

“FINANCIAL

MORTGAGES * MUTUAL FUNDS © LIFE INSURANCE * HEALTH INSURANCE
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it :



a

MONDAY, JULY 28, 2008



PAGE 12B

The stories behind the news





Silent to the end
Levi Gibson one of the last crucial
connections with the Oakes affair

THE death of 94-year-old Levi Gibson cuts one of the very last
direct links with the Sir Harry Oakes murder mystery of 1943,
when The Bahamas became the centre of the greatest crime
riddle of the 20th century. INSIGHT explores Mr Gibson’s role
in the extraordinary events of that time and his unshakeable
defence of the prime suspect, the late Sir Harold Christie, —

who was his employer and mentor.

By JOHN MARQUIS
’ Managing Editor

evi Gibson rarely spoke
publicly of the events of
that thundery night in
July, 1943, when insular
little Nassau suddenly and
unexpectedly wiped the Second World

War itself from front pages around the °
‘globe.

He never discussed in detail the bru-
tal murder of Sir Harry Oakes, the leg-
endary Canadian gold prospector who
transformed the fortunes of this
benighted isle and harboured ambi-
tious dreams for his adopted home-
land.

On the very few occasions when he
was encouraged to speak - usually by
visiting foreign newsmen - his com-
ments were brief but firm repetitions of
his solid conviction that Sir Harold
Christie, his beloved boss, was not the
killer. However hard correspondents
tried to get him to elaborate, Mr Gib-
son remained resolutely unforthcom-
ing.

His silence was interpreted by fel-
low Bahamians in many ways, few of
which did Mr Gibson himself any cred-
it.

However, no evidence has ever been
produced to substantiate any of the
many rumours that flew around Nassau
for many years, and Christie himself
spent the last three decades of his life
under the shadow of widespread sus-
picion which was never tested by law.

Instead, Sir Harry’s son-in-law, the
Mauritian chicken farmer Cotint
Alfred de Marigny, was tried and
acquitted of his murder at the Bahamas
Supreme Court, only to be deported on
the jury’s recommendation and left to
drift from one refuge to another for
the rest of his life. :

Gibson, by contrast, went on to pros-
per mightily as a realtor in the post-war
era, as did his friend and mentor Sir
Harold, whose involvement in the
Oakes affair certainly did nothing to
halt the burgeoning of his personal for-
tune, even if it cast a blight on his char-
acter right up until his sudden death in
1973.

Together, they weathered the point-
ed conjecture, endured what Sir Harold

called the “inferential calumny” circu-’

lating in Nassau, and even withstood

the indirect accusation - made by MP_
Cyril Stevenson in the House of .

Assembly in 1959 - that Christie was

the man who killed Sir Harry Oakes. .

During the 16 years following the
murder, no fewer than 16 people died
mysteriously in Nassau for their sus-
pected knowledge of, or meddling with,
the disturbing details of Sir Harry’s
demise. One of them was an American
woman investigator whose body was
discovered upside down in a banana
hole. Another was a former associate
of Christie’s who was thought to be
talking too much during confused
moments in her twilight years.

Fear gripped the island to the point
where Stevenson felt compelled to
raise the issue on the floor of parlia-
ment - and make his sensational alle-
gations against Christie, who was sitting
nearby but said nothing in reply.

His rekindling of the embers pro-

ON-THE-SPOT FINANCING

voked a public statement from Sir Har-

_ry’s daughter Nancy - former wife of de

Marigny - who strongly suggested that
a local conspiracy was behind her
father’s death.

And it sparked a Scotland Yard
inquiry which confirmed what all those
involved already knew - that precious

~ forensic evidence at Oakes’s mansion,

Westbourne, near Goodman’s Bay,
had been wilfully destroyed in the
hours following his death.

What we know for sure about Levi

Gibson, who worked as Christie’s dri- _

ver and general factotum at the time,
was that he left his boss’s car outside
Westbourne on the eve of Sir Harry’s
savage murder.

We also know that, according to him,
the car remained on that spot through-
out the rainy night when Sir Harry
died, thus confounding the theory that
Christie ‘drove it into town during the
dark hours, contradicting his own con-
tention that he spent the entire night
sleeping in the house.

_Gibson maintained that the ground
beneath the car remained dry despite a
heavy rainstorm, as he checked it the
following. morning. He confirmed that
Sir Harold was a deep sleeper, and his
own view was that his boss remained at
Westbourne throughout that fateful
night.

Though conjecture raged in the late.
1940s and early 1950s, always furtively rf
in low whispers, Gibson never shifted,

his position - that Christie was too mild.

a man, too gentle a character, ever to

have been involved in something so,

dreadful as the murder of his old
friend, Sir Harry.

Then, in 2005, a few months before
» publication of my book about the
Oakes case (Blood and Fire, The Duke. _

of Windsor and the Strange Murder of

Sir Harry Oakes).1 received a phone

call from a friend who made an elec-
trifying disclosure.

“Levi Gibson is talking about the
Oakes case,” he said, “you’d better
have a word with him.”

I was advised to approach a “middle
man” by the name of Burns who, I was
told, would organise a conversation
with the ageing Levi. So it proved, for

-when I phoned this person, he told me .

that Mr Gibson was sitting nearby and
handed over the receiver.

Of course, it would ‘have been too
much to ask that Gibson would make a
belated revolutionary disclosure about
the case, or that he had been encour-
aged by the grim demands of
approaching mortality to tell ali he
knew.

But what he said was interesting
enough in itself, and added a few extra



LEV! GIBSON (shown) rarely spoke publicly of the events of that thundery night in July,
1943, when insular little Nassau suddenly and unexpectedly wiped the Second World War

itself from front pages around the globe...

embellishments to a story which, 64

‘years on, continues to excite the curios-

ity of all those with a taste for intrigue
and modern Bahamas history.

True to form, Gibson continued to
protect his master, Sir Harold, and told
me unequivocally that Count Alfred
de Marigny, assisted by a Bahamian
associate and a titled friend, had killed
Sir Harry on that stormy summer night.

He said the Bahamian, whose name

he revealed, but which remains undis-
closed publicly for legal reasons, was
recruited to show the way to Sir Har-
ry’s bedroom, where the baronet’s
body was found the following morning
with head wounds and extensive burns.

At the time of the murder, Gibson
revealed, detectives had tried to press
him into implicating Sir Harold, but
he had rebuffed them. De Marigny, he
added, was the only person with a



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motive for murder - and he had
escaped the noose.

Major Pemberton, the lead investi-
gator, invited him, Gibson, to the
police station for questioning. “They
were trying to put it on Sir Harold, but
I told them to go to hell. The whole
thing was a mess-up. The police depart-
ment screwed it up,” he toldme. ~

He also blamed the Duke of Wind-
sor, Governor of The Bahamas at the
time, for “screwing up” the inquiry by
calling in two Miami detectives who
did not know what they were doing.

“You must remember,” he added,
“that Sir Harold had no reason to do it.
He was shocked to hell that morning.
There is no doubt in my mind that de
Marigny and his friend did it, no doubt
at all.”

Other Bahamians of advanced years

_ Share Levi’s conviction that the Count
‘was responsible, but the fact that police

were unable to find a single trace of
forensic evidence to support such a
belief suggests that-de Marigny was
not the man.

Far more likely was.that de Marigny,
a womaniser with a dubious title and
obscure. exotic origins, was chosen as
fall guy to take the heat off local white
conspirators behind Sir Harry’s death:

In his brief interview with me, Levi
Gibson was uncharactistically forth-
coming, claiming that he remained on
good terms with the Oakes family and
even dined out with them when he was
in London.

He said he had personally semaine
on good terms with all the Oakes chil-
dren, and knew Nancy Oakes right up
to her death in January, 2005.

“Whenever I was in London, we
would go to dinner together,” he told .
me, “I also knew Sydney and Shirley
very well. I used to take them out when
they were kids. After the murder, the
two families (Oakes and Christie) con-
tinued to be friends.

“The fact is that Sir Harold was not
the kind of man to hurt anyone. He
wouldn’t kill a fly,” he added.

Though in his early nineties at the
time, he claimed he still went into his
office every day, and sounded nothing
like the confused, disorientated old
cove some had suggested he was.

On the contrary, Gibson was lucid
and co-operative, sticking staunchly to
his views about de Marigny and his
purported role in the Oakes murder.

In spite of that, Gibson was never
wholly free of the rumour mill. After
his death, a Bahamian told me: “It’s a
pity he died without ever really dis-
cussing the Oakes matter in detail. He
could have revealed so much. My

_ mama and most other Bahamians of

her generation believed there was
more to be told about the Oakes story.

“There is no doubt that Levi was a
rich man who came into substantial
land holdings after the war years. He
protected Sir Harold’s reputation and
did not compromise the confidence his
employer reposed in him. He goes to
his grave with secrets that would have
cast new light on the murder and all
those matters surrounding it.”

A well-known Bahamian media fig-

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Volume: 104 No.205

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Ada AT Ly ae



Ginn Sur Mer company
faces possible foreclosure
on properties over failure

to meet loan

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

DEVELOPERS of the Ginn
Sur Mer development on Grand
Bahama have until Thursday to
avoid possible foreclosure on
four properties after failing to
meet a June 30 payment on a
$675. million loan.

The loan backs part of the
Ginn development on Grand

Bahama and three other prop-

_ erties in the United States.

payment date.

According to published ©

reports, after developers missed
a June 30 loan payment they

were granted a 30-day fore-_

bearance agreement which
allows the company to:keep the
property while negotiating a
new payment plan. »

Minister of State for Finance
Zhivargo Laing said he was
aware of the developers’ finan-
cial: woes but, as he did’not-have

SEE page 12

Caribbean energy costs

grow 370% i

in five years

@ By CARA BRENNEN-BETHEL \
Tribune Business Reporter



CARIBBEAN nations must begin to decrease their depen-
dence on fuel, as the high cost is causing a severe drain on
their external reserves, the Organisation of American States
(OAS) assistant secretary-general said.

SEE page 13

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for aie

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GUIDE INSIDE

/

CO



re &
HAVING A BALL: Minister of State for Finance Zhivargo Laing goes for the
basket as Parliamentarians took on Pastors during a basketball match. Who

won? FIND OUT ON PAGE 6.



Hope from ashes of despair

THE owner of an Abaco
supermarket destroyed by fire
hopes to have the business up
and running again by Christ-
mas.

And he is determined that no
jobs will be lost because of the
disaster.

TURKEY

Chad Sawyer, whose
Maxwell’s store was Marsh Har-
bour’s main retail food outlet, is
already drawing up plans for a
replacement building on a new
site.

SEE page 12

b, Quiznos sSuB

ASTY!

e TUNA e






eS Country would be hit by American |
travel to Cuba, new study shows _

about 36, 000

-i..THE Bahamas: will lose
499,000 US tourists, while gaining

36,000 non-US tourists, when

“American travel to Cuba opens, a

new study finds. ~
The report found that the
Bahamas stands to be one of the

. countries - following only behind

Cancun, with a loss 614,000 visi-
tors - to lose the most with the
liberalisation of the Cuban mar-
ket.

The opening of Cuba, accord-
ing ‘to one of the researchers
preparing the report, will cause

. an “industry shock” the likes of

‘which only occurs “once in 100
years” but there is no evidence
that the Bahamas and Cuba’s oth-
er neighbours “hedged potential
losses ahead of this change”.

Stolen


























meat
litters
street

MORE than 200 pounds of
stolen meat littered a street in-
Grand Bahama early yester-
day morning and was recov-
ered by Grand Bahama
police.

Police believe robbers lost
the products after they fell
off the back of their getaway
vehicle.

The meat, 220 pounds of
it, was Still frozen when Cen-
tral Detective Unit officers
on patrol in North Bahama
stumbled across the packaged
goods strewn in the street
near the Regency Theatre.

The items have been
secured until police can iden-
tify an owner but it is sus-
pected the goods were stolen
from a store.

Witnesses told police they
saw a white truck with two

SEE page 13



SALAMI & CHEESE @ HAM & CHEESE





{i Non US visitors likely to number

This news comes at a time
when newly-appointed Minister
of Tourism Vincent Vanderpool-
Wallace faces the task of i improv-
ing and maintaining th the country’s
position in the global tourism
market.

The study, conducted by the
International Monetary Fund’s
Rafael Romeu, entitled “Vaca-
tion Over: Implications for the
Caribbean of Opening US Cuban
Tourism’, examines the effect an

“open” Cuba will have on the
Caribbean’s tourism market.

Romeu’s report is one of a
number of studies examining the
issue, butsnone has reached a con-
sensus as to what the full-term

SEE page 13

Serial rapist:

Police seek

‘person of
interest

m@ By TANEKA THOMPSON

Tribune Staff Reporter
tthompson@tribunemedia.net

POLICE on Grand Bahama
are searching for a “person of
interest” they believe can assist
with the arrest of a serial rapist
who targeted at least three vic-
tims on the island.

-“An island-wide search is
continuing for the suspect
believed to be responsible for
the rape incidents that occurred
in Freeport approximately three
weeks ago,” Chief Supt Basil
Rahming said in a release yes-
terday.

Although police are not yet
able to produce a photo or
sketch of the suspect, CSP Rah-

“ming said detectives are in

search of “a person of interest”
who they believe can assist in

SEE page 13







ENsoy A

Regular Sub

For only

(Lerroce& Tomara Gy, Mo Senstromons)






PAGE 2, MONDAY, JULY 28, 2008 — THE TRIBUNE
LOCAL NEWS

RONNIE BUTLER

says ‘thank you’ ‘tor tributes











PICTURED FROM LEFT,
Minister of State for Cul-
ture Charles Maynard,
Ronnie Butler, Pat Mor- .
timer, director of catering
and convention services
' at Sheraton Cable Beach
Resorts, Sheree Flowers
‘and proprietor of

: Coconuts Bar and Grill
Eldon Ferguson.




Letisha Henderson/BI!S Photo













































AS a fitting end to a week of
activities planned in his honour,
Ronnie Butler, dubbed the “God-
father of Bahamian Music,”
‘extended appreciation to Minister
of State in the Ministry of Youth,
Sports and Culture Charles May-
nard and the organisers of “Ron-
nie Butler Week” by hosting a.
special lunch at Coconuts Bar and
Grill, West Bay Street.

_ In response to the gratitude
extended to him and the team of
organisers, Minister Maynard
said: “He (Ronnie Butler) is well
deserving of all the honours he
has received and he thought it
was necessary to bring us all back
together one more time and say
thank you.”

Butler, whose contribution to
the Bahamian music industry
spans some 54 years, recently cel-
ebrated his 70th birthday. The
government, in conjunction with
a private sector committee, organ-
ised a week of activities to recog-
nise the great Bahamian icon as a
cultural ambassador, entertainer
and musical veteran.
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THE TRIBUNE

MONDAY, JULY 28, 2008, PAGE 3



Twenty-four Cubans
arrested after US-
Bahamas operation

In brief

Two Freeport
residents
charged
separately
over road
deaths

TWO Freeport residents
were charged separately in
Freeport Magistrate’s Court
on Friday in connection with
two road deaths on Grand
Bahama.

Appearing in Court One
before Magistrate Debbye
Ferguson was Alton Curtis
Jr, of 4 Widgeon Road,
Grasmere.

‘Curtis, 21, was charsed
with killing in the course
dangerous driving.

It is alleged that on March
6, the accused was driving a
flatbed truck licensed
BV4649 along Queen’s Cove
Boulevard in a manner dan-
gerous to the public, causing
the death of Sanitation Ser-
vices employee Ronald Souf-
frant, who was riding on the
back of the garbage truck.

Curtis, who was not repre-
sented by counsel, elected
summary trial and pleaded
not guilty to the charge.

Magistrate Ferguson
adjourned the matter to Feb-
ruary 18,2009, and granted
Curtis $5,000 bail with three
sureties.

In Court Two, Maggie
McDonald of 10 Cocknell
Court, Sherwood Forest,
appeared before Magistrate
Andrew Forbes in connec-
tion with the death of a
motor-cyclist.

McDonald, 45, pleaded
not guilty to the charge of
killing in the course of dan-
gerous driving.

It is alleged that on March
22, McDonald was driving in
a manner dangerous to the
public, causing the death of
Dwayne Minnis on Midship-
man Road in Lucaya.

Magistrate Forbes
adjourned the matter to the.
November 21, 2008, and
granted th
bail with one surety.

Attorney K Brian Hanna
appeared on behalf of Ms
McDonald.

Police arrest
suspect in armed
robbery of phone
card hooth

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



”

POLICE arrested_a 19-
year-old man over the week-
end who is suspected of
being a part of a day-time
armed robbery of a phone
card booth.

According to police
reports. shortly before noon
on Friday, an employee of a
Quick Cell Booth on JFK
Drive was at work when four
occupants of a gold Nissan
Maxima pulled up and pro-
duced a weapon.

The employee was robbed
of cash and a number of
phonecards before the
thieves sped off.

Police were called and offi-
cers from Cable Beach
Police Station, who were in
the area, saw the gold Maxi-
ma.

When the occupants of the
car saw the police, they sped
away and police gave chase
and called for back-up, Asst
Supt Walter Evans said.

The car chase ended in St
Albans Drive after the sus-
pects hit a building and fled
the wrecked car.

Police searched the area
and a 19-year-old man,
believed to be one of the
occupants, was arrested and
is in custody.

Police searched the car
and found a shotgun with
four live rounds and two
black ski-masks inside.

Investigations are continu-

ing.

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A JOINT effort between the
US Coast Guard and the Royal
Bahamas Defence Force result-
ed in the apprehension of 24
Cubans found in the Central
Bahamas on Friday afternoon.

The immigrants are now
detained at the Carmichael
Road Detention Centre.

The RBDF received word of
Cubans spotted on Fish Cay,
just off South Andros, and the
HMBS Inagua, under the com-
mand of Senior Lieutenant
Berne’ Wright, along with
HMBS P-121 were dispatched
to investigate, an official release
said. On arrival, they discov- .
ered the migrants (14 males,
eight females and two children),
who all appeared to be in fair
health.

They were all transferred
onboard the Defence Force ves-
sel and brought into Nassau late
Saturday night, where they were
turned over to immigration
authorities for further process-
ing. Two weeks ago, 28 migrants
were rescued by authorities on
Great Inagua after an\abortive
expedition, the RBDF reported.

The group - seven Domini-
cans (four men, two women and
a child) and 21 Haitians (16
men and five women) - was
found near a capsized vessel
near Mathew Town, Inagua.

All those aboard the capsized
vessel made it ashore safely, the
RBDF reported.



RBDF Photos by Leading
Seaman Jonathan Rolle

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A aa among the group of Gubahs re up by Defence Force offi-

cials on Friday afternoon. He was among the group of 24 picked up off Fish
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A GROUP of
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being escorted
off HMIBS Inagua
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PAGE 4, MONDAY, JULY 28, 2008

THE TRIBUNE



ee Ec

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 Managenient Building., P.O. F-485, Freeport, Grand Bahama

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

Freeport fax: (242) 352-9348 EDTLOR, The Papune-



Airport users to get better food

PASSENGERS who use Lynden Pindling
International Airport will be delighted to know

that not only have the airport’s washrooms been
refurbished, but at last they will have a choice of
restaurants ia both the US and domestic termi-

nals.

Mr Ingraham announced in the House last
week that Nassau Airport Development Com-
pany (NAD) had already spent $2 million on
five new and refurbished washrooms in the var-
ious terminals, with four more underway as he
spoke last Wednesday.

As for the food service at the airport, the
complaints have been constant. They have come
especially from passengers on planes arriving
after or leaving before the restaurant staffs*
working hours. Passengers stranded at the air-
port when their {lights have been: delayed are

-also loud in their complaints about no late night
refreshments to slake their thirst and satisfy
their hunger.

In August, 2006 The Tribune reported a pas-
senger’s complaint that he could not even pur-

chase a sandwich because, although he had *

picked it up from the shelf, he could not pay for
it. The manager explained that there was a
“union issue going on” and he could not use the
cash register. So much for exclusive rights and
customer service at the airport.

But Mr {ngraham has promised a change.
There will now be a choice of restaurants that
will cater to passengers, their hours and their
needs. He said that “following a lengthy and
complex negotiation with the existing exclusive
food and beverage operator, many opportunities
will be available for the passengers within the
next few months.” Two new coffee bars will
soon open, in addition to several new franchise
food outlets in the US and domestic terminals.

Bahamas In-Flight Limited is the company
that held the exclusive concession as a public
and private caterer for the handling of in-flight
meals and refreshments for all aircraft landing
or leaving the airport. It also had the exclusive
franchise to sell food at Nassau International
Airport, now the Lynden Pindling Internation-
al Airport.

This company with its exclusive franchise
featured prominently in the 1983/1984 Com-
mission of Inquiry report into the transship-
ment of drugs when the commissioners were
examining the source of the late Sir Lynden
Pindling’s income.

During those hearings Sir Lynden, at the

‘ time prime minister, told the commissioners
that in 1972 he was instrumental in putting
together a “group of young business and pro-
fessional people for economic purposes.” Two
of those persons were Mr Gareth “Tiger” Fin-
layson and the late Everette Bannister, who











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after discussions, with Prime Minister Pindling
incorporated Bahainas Catering I.td on October

30, 1972 for the purpose of acquiring the shares .

of three other. Bahamian companies, one of
which was Nassau Airport Catering Ltd. Mr
Finlayson and Mr Bannister between them held
shares totalling 930 in trust for Sir Lynden.

In 1990 the exclusive contract with the com-
pany — now known as Bahamas In-Flight Ltd
(BIS) — was renewed under the Pindling gov-
ernment. The new 10-year lease was signed by
Philip Bethel, then Minister of Transport
responsible for Civil Aviation.

When BIS’s contract expired in 2000, the
Ingraham government did not.renew it, but let

it continue on a month-to-month basis. It was -

over BIS’s exclusivity agreement that the

“snag” developed — and almost collapsed — .

the Canadian negotiations for the management
of the airport.

In the negotiations BIS, relying on a clause in
its earlier contract, held that when its contract
expired in 2000, it automatically renewed itself
for another 10 years. This meant that BIS would

remain the exclusive caterer at the airport until

September 19, 2010. Government found this

‘position unacceptable.

Not only did the exclusivity of this lease
hamper the plans of the new managers, but it
held up two other developments envisioned by
government.

BIF’s exclusive concessions also extended
for five miles from the airport. That is why for-
mer Minister Bradiey Roberts, when he was in
Opposition, complained that a food vendor was
in breech of his company’s lease agreement
with the airport when she was allowed to sell
food from the trunk of her car in the airport’ s

_ parking lot.

BIS can now remain at the airport on a 10-
year lease if it upgrades its facilities and pays the
increased rates, failing that the lease will be
reduced to seven years. However, BIS no longer
has an exclusive franchise at the airport. This
means that Nassau Airport Development Com-
pany (NAD) can diversify its food outlets with
new tenants in the airport.

And with the five-mile exclusive zone outside

the airport removed, government can now go

ahead with its plans to create its concept of a

- service station with food available, and regu-

larise the parking lot fodd vendors. The pro-
posal is to move the. vendors to a designated
location and enter into lease agreements with
them.

Now with the stranglehold held’by one com-
pany and a political group removed from the air-
port, the Bahamas ‘1as a chance to fashion we
Atlantis chief Sol J this country’s success as a tourist destination,

Jung
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Telephones: 328-8618/19/20 »

Mr J Saunders’ letter: Can

Grand Bahama residents han-

dle what’s coming next?

Is certainly a paradox and
draws a reply.

It is certainly extremely
healthy that the people are
commenting on their future,
pro and con, and I must con-
gratulate those who have
researched Fleming Family
Partners — this is very
healthy.

We have a habit in The’

Bahamas that if you flash-
enough and do a lot of public
relations somehow that indi-
cates you have money.

There are so many ‘exam-
ples all over the Bahamas
from the past of developers
proposing this and that and
when it comes to the crunch
suddenly bush-crack they are
gone!

To-day moreso than ever
we have to be extremely care-
ful what is presented for us to
consume as you have to know

’ the background of the parties

— they must disclose who and
what they intend and with
whom (give examples of who
they have interested in invest-
ing).

Iam not convinced that the
so-called initial statement that

Freeport could become anoth-

er Dubai makes any sense nor
do I see any suggestion that
the investors in Dubai and in
fact that region would consid-
er The Bahamas as that region
continues.to be streaks ahead
of any process or potential
return on investment that The
Bahamas can offer.

Firstly Dubai was built and
continues to be built with
exceptionally low cost foreign
labour from India, Pakistan
and Bangladesh — we know
that will be impossible in
Freeport or anywhere in The
Bahamas.

A search as where the Flem-

_ ing Family Partners are con-

centrating their current busi-

Reliability








Fax: 326-4831



Hua

letters@tribunemedia.net






ness activities suggests they
are very involved in Russia
and with the super rich bil-
lionaires who have made it
through what some would
conservatively describe as
tainted business deals.

Is Freeport going to be
turned into a pirate home port
for this kind?

I am very positive on
Freeport. even if the current

court matters drag on —I am.

concerned that the Govern-
ment might make a very seri-
ous wrong move, however,
and seriously suggest to the
Government to retain a
hands-off position however
use all the influence to per-
suade the parties to find a
buyer to purchase both par-
ties and then encourage that
party to join Hutchison-
Whampao, who has been such
a good corporate business, to
move forward with an aggres-
sive new economic develop-
ment plan appropriate for
Freeport.

Development of Freeport

Freeport

another
Dubai? ’
not so sure

even reject Bahamian on our
35th anniversary of Indepen-
dence?

A legal process must be

seen to have been completed

as the Rule of Law excludes
none, be you Sir Jack Hay-
ward — the Estate of Edward
St George — The Fleming
Family Partners/Ruddy Flem-
ing or anyone else.

Mediation failed and it
seems that the Fleming side is
hyping up and heating up fur-
ther legal challenges and we
pray there could be a rational
solution but.......

-The new chair and other
director on GBPA Board
have to be exceptionally care-
ful in their decisions so as to
avoid further litigation — my
advice would be to concen-
trate exclusively on the reten-
tion of a status quo basically
the administration of The Port
but hold-off on any decisions
which could irritate the
already explosive situation.

If I am hearing certain
rumours unfortunately a seri-
ous mistake has already
occurred which could cause
further injurious litigation
between the parties already
litigating — chairman hold
you hand.

has to be a Freeport-concept *:

not Dubai or anywhere else
— why copy, create something
uniquely Bahamian or do we

Cc PERCENTIE
Freeport
July 9, 2008.

Should I wear a lapel pin?

EDITOR, The Tribune.

Re: ‘Racial exclusion’ July 3, 2008.
Might it help if I were to wear a lapel pin?

KEN W
KNOWLES, MD
Nassau,
‘July 3, 2008.

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THE TRIBUNE

MONDAY, JULY 28, 2008, PAGE 5



Hotels charging
guests double
overnment tax,
says Ingraham

FOR a number of years,
hotels in New Providence and
throughout the country have
been charging guests double the
government tax that they are
allowed by law.

Addressing the House of
Assembly, Prime Minister
Hubert Ingraham said hotels in
NP have been stamping on bills
a 12 per cent government tax
when the government tax is
actually six per cent.

“The government receives its
six per cent. The other six per
cent is had by the Nassau Par-
adise Island Promotion board.
They say they have that to
improve the product.

“When Kerzner came to the
Bahamas and discovered that
this existed, he was able to put
all those fine roads on Paradise
Island, the sidewalks, fire sta-
tion and the rest of it, and goes
to the bank and says listen, I
need to borrow this money to
fix these places on Paradise
Island, in support of improve-
ment, and half of the money
from the six per cent the hotels
collect will be used to repay the
loan. That’s wonderful,” Mr
Ingraham said.

Now, having discovered that
this is the way to go, Mr Ingra-
ham said his government will

be engaging in discussions with ,

the Nassau Tourism Develop-

-ment Board with a view to
determine how much of that six
per cent is going to be allocated
for the product development of
the Lynden Pindling Interna-
tional Airport.

ae
EXTERMINATORS
aes Wa
PHONE: 322-2157
























CARIFESTA REHEARSAL



Caribbean Festival of the Arts (Carifesta).

























Police reported that a
man was shot while
attending a party in the
Garden Hills area.

ASP Evans said while at
a party at Garden Hill 3
around lam yesterday,
Patrick Pierre, 24, of
Fowler Street, was outside
when several occupants of
a Dodge Ram truck came
into the area.

It is reported that shots
were discharged from the
truck hitting the man,
whose age is unknown, in
the abdomen. The victim
was taken to hospital
where he is detained in
critical condition.

Police are uncertain
about the circumstances
surrounding this incident
and have launched an
intensive investigation.







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*

NASSAU, The Bahamas -- Direc-
tor of Culture Dr Nicolette Bethel
speaks at the meeting and
rehearsal for the Bahamian dele-
gation to the Caribbean Festival
of the Arts (Carifesta). More than
100 Bahamian artists, perform-
ers, entertainers and writers are
slated to represent. The Bahamas
at the 10-day event, which will be
held in Guyana in August. The
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PAGE 6, MONDAY, JULY 28, 2008 THE TRIBUNE
LOCAL NEWS ]

a NELSON COOPER PEACE ON STREETS BASKETBALL: hi
KENDAL Isaacs Gym, SATURDAY JuLy 26 OC) ! ) IC) R ! ) | PG St rs ect

Parliamentarians 33-26 °

















SENATOR JEROME FITZGERALD
the big guard

Be



GOLDEN GATES MP Shane Gibson looks for an opening.

.

-Quote
Betty Taylor week-

Journalist / Entrepreneur

“A man is never
satisfied. He is
always looking in
another direction for
something else”

quoteoftheweek@live.com

PASTORS enjoying the win over Members of Parliament. SU

eM



HOLDINGS CO. LT

CHAIRMAN'S REPORT
FOCOL HOLDINGS CO. LTD

CONSOLIDATED BALANCE SHEET
For The Quarter Ended April 30, 2008 (B $000)





. | : , : April 30,2008 April 30, 2007 |
The Directors of FOCOL Holdings Limited ee |





Assets $ 134,338 $.__ 113,850
(FOCOL) are pleased, to present. results ligbilities . S560? 57-795
for the quarter ended April 30, 2008. Net Shareholders' equity 68,731 56,061
income — available = to += common - Total liabilities & shareholders’ equity $__ 134338 $___113,850 |

shareholders for the nine months ended
April 30, 2008 was $9,330,152 compared

to $8,450,912 last year. This represents CONSOLIDATED STATEMENT OF INCOME |





an increase of 10.4%. Earnings per share (B $000)
f 95 is to 27 Is f 9 months ended 9 months ended |
ENS age OIE Oe onet AIS er April 30,2008 April 30,2007. -
the same period last year.
Sale & revenues $ 259,472 $ 197,564 |
FOCOL has been able to maintain Cost of sales (228,272) silt 68820)
consistent earnings in a very difficult Income from operations 31,200 29,044 |
environment. Despite the high cost of .
fuel and other goods and services we . Marketing, administrative and general (18,200) (16,984)
: Depreciation ( 1,694) ( 1,644) |
have managed to increase our Finance cost ( 1,232) (1,157)
earnings. We are also continuing with Other income (expense) : (56)
: long term plans that will improve the Net Income 2 10,082 9,203
efficiency of our distribution network in Plelgtence shote diigencs eet 3782) __{_ 782)
Grand Bahama, New Providence and Net income available to common shareholders $ 9,330 $ 8,45]
the Family Islands.
Basic earnings per share $ 0.27 $ 0.25
Our Directors, management and staff
Dividends per share $ 0.08 $ 0.07

remain committed to seeking every
avenue to contribute to the growth of
FOCOL.

Copies of a full set of the unaudited financial statements can be obtained from Stephen Adderley

(sadderley@focol.com), at the Freeport Oil Company located on Queens Highway, Freeport,
Grand Bahama, Monday through Friday from 8:30 AM TO 5:00 PM.

(hhc a |
Sir Albert J. Miller
Chairman & President

i ey A

Sapper. hae


4
—THE TRIBUNE

Rights



of a husband’s

MUNDAY, JULY 28, 2008, FAUE /

LOCAL NEWS

‘outside’ children to



ome under spotlight



| 6<

In The

se
2258
=

Sd

Li

: of our house-
“holds are run

IN a country where ‘sweet-
hearting’ is considered com-
4aon, many women would be
prised to know that their
asband’s ‘outside’ children
ve more legal rights than
y would like them to have.
“These rights, along with sev-

ibe up for discussion during a
ifree legal clinic on estate plan-
‘ning presented by law firm
lisa Hall and Co tomorrow
6pm. The clinic will take
ce at Living Waters King-
(om Ministries on Warren
eet. :

y. to reach gut, fo othe
men Who mays ‘feel th i

not know their teites
‘In The Bahamas, most: of

_ FNM expresses
sadness at death
of Captain
Ny eas mele

THE Free National
Movement has
expressed sadness at the
passing of Captain

Spencer Rose of Long
Cay, and sent deep con-
dolences to his family.

FNM chairman Sen
Johnley Ferguson
described Capt Rose as
one of those intrepid
Family Island support-
ers of the party who
“kept the Torch burn-
ing” and who would
always be remembered
for his unflinching loyal-
ty to the FNM’s cause.

“Through the years
our party has remained
strong and vibrant
because of the dedica-
tion and unswerving
support of members
such as Capt Rose, and
we in the FNM have
never failed to express
our gratitude and appre-
ciation to them, both in
life and in death,” Sen
Ferguson said.

The body of Capt
Rose will lie in state at
FNM headquarters,
Mackey Street, on Tues-
day, July 29, from 10am °
until 4pm.

At 12.45pm on Tues-
day, FNM leader Prime
Minister Hubert ingra-
ham, will head an
entourage of Cabinet
ministers, parliamentari-
ans, and party officers
and supporters in view-
ing the body, and in tak-
ing part in a memorial
tribute ceremony.

At that time the prime
minister will make
appropriate remarks.

Funeral services for
Capt Rose will take
place in Long Cay ata
later date. 4





?Bahamas most


















our households are run by sin-
gle women,” said Melisa
Thompson Hall, who heads
her own practice from her
downtown Nassau office.
“Those women are single
due to a variety of circum-
stances, including having.a
child outside of wedlock,
divorce, being widowed and
more. Sometimes they feel
they just don’t have any rights
even though they do and we
thought that they should have
the opportunity to hear what
grounds they may have and
ask a few questions as
opposed to paying a huge con-
sultation fee and still not get-
ting. Al the ipformation they



sn BS es Hall, along with
the firm’s s associate attorney
- Damara Dillet, will be: dis-
* cussing a wide range of op:



‘AIR. CONDITIONERS!
AIR-CONDITIONERS!



TAY COOL ALL



MELISA THOMPSON HALL of Melisa Hall and Co will be a key speaker at the firm's free legal clinic tomorrow
at Living Waters Kingdom Ministries.

ics that address the impor-
tance of having a will, know-
ing what steps to take if a
deceased spouse or parent

hasn’t left a will, knowing the’

rights of children born out of
wedlock, and the rights of chil-
dren born outside the mar-
riage.
















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PAGE 8, MONDAY, JULY 28, 2008

THE TRIBUNE





NASSAU, THE BAHAMAS Minister of For- j
eign Affairs (Acting) Tommy Turnquest (far H
left) and Hu Dingxian, ambassador extraor- 5
dinary and plenipotentiary of the People’s
Republic of China (far right), presented four
of the five Bahamian students awarded full
scholarships by the Chinese government
with their scholarship certificates during cer-
emonies held Thursday. The five - Keshandi
Thompson, Najah Plakaris, Blaine Butler,
Kenson Tinker.and Crystal Tinker - brought
the number of Bahamian students receiving
Chinese government scholarships to 19. Pic-
tured (from left) are Minister Turnquest,
Miss Crystal Hanna (Architecture), Miss
Najah Plakaris (Languages), Mr Blaine Butler
(Architecture), Miss Keshandi Thompson
(Medicine) and Ambassador Hu.



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The Government of. the Peo-
ple’s Republic of China
awarded five Bahamian stu-
dents full Chinese government
scholarships on Thursday,
bringing the 10-year total since
the Chinese government
began awarding scholarships

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dents in 1999 to 19.
The Chinese government
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award programme through
the China Scholarship Council
just two years after establish-
ing diplomatic relations with
the Bahamas government in
1997.

Minister of Foreign Affairs
(Acting), Tommy Turnquest
applauded the Chinese gov-
ernment for the “technical
assistance and co-operation” it
had extended to The Bahamas
over the past 11 years.

Mr Turnquest said the gov-
ernment was “particularly
appreciative of this scholar-
ships programme”, which
allows Bahamians to pursue

higher education and prepares .

them for making their neces-
sary contributions to nation
building.

“Since the establishment of
diplomatic relations in 1997,
Bahamian students have pur-

sued higher education at the

bachelor’s and master’s levels
in a range of disciplines from
manufacturing and design of
clothing and apparel, to med-
icine, astrophysics/astronomy
and international business
management and marketing,”
Mr Turnquest added.
“Today’s scholarship awards
will continue that trend. We
are confident that the recipi-
ents will be well prepared to
play their necessary roles in
the further development of
our country,” Mr Turnquest
added. The five students —
Keshandi Thompson, Najah
Plakaris, Blaine.Butler, Ken-
son Tinker and Chrystal Han-
na — will pursue degrees in
medicine, languages, architec-
ture and Asian studies and
diplomacy at some of the lead-
ing universities in China,
among them Southeast Uni-
versity in Nanjing, Beijing
International Studies Univer-
sity, the South China Univer-
sity of Technology in
Guangzhou and the Donghua
University in Shanghai.
“These are renowned key
universities in China which
will provide good conditions
and environments for their

studies,” said Hu Dingxian,
ambassador extraordinary and
plenipotentiary of the People’s
Republic of China.

“The Chinese Government
Scholarships Programmes
have been established to
strengthen mutual under-
standing and friendship
between the Chinese people
and the people of the rest of
the world, and to enhance the
co-operation and exchanges
in the fields of education, sci-
ence and technology, culture,
economics and trade.

“The Bahamian students
study science and technology,
medicine, international trade,
psychology, architecture, and
so on, in China. I hope and
believe that this learning and
training will contribute to the
development of the most pre-
cious human resources, which
would: benefit The Bahamas’
social and economic develop-
ment,” Ambassador Hu
added.

Mr Turnquest told the
young Bahamians that they
will begin studies in China at
“a most opportune time.” He
said the upcoming Beijing
Olympics, which will begin in
less than two weeks, and the
appointment of Elma Camp-
bell as resident ambassador to
China are among the new

_ developments in China.

“As the Bahamas’ first resi-
dent ambassador to China, she
has asked me to assure you
that the doors of the embassy
are open to, and for you. The
ambassador will, at the same
time, be looking to you to por-
tray in China all that is good
about our Bahamas, its peo-
ple, its culture and its tradi-
tions,” Mr Turnquest said.

“T’urge you as well to be

‘good ambassadors for our

Bahamas. Take full advantage
of this opportunity and learn
all that you can. Become flu-
ent in the Chinese language
(as) it is the language of the
fastest growing economy in
the world,” Mz Turnquest
added. :

Revitalisation of Nassau to —
be discussed on ZNS tonight

REVITALISATION of down-
town Nassau will be discussed
during a ZNS television show
tonight.

Tourism Today host Michelle
Malcolm interviews Philip Simon,





















executive director of The
Bahamas Chamber of Commerce
on the City of Nassau Revitalisa-
tion Act. Other interviewees are
businessman Franklyn Wilson
and public relations expert Diane
Phillips.

During the show, Simon
describes the act as another step
towards improving the country’s
tourism product and aesthetic
appeal, not just along Bay Street,
but several blocks to the east and
west of the popular tourist area,
which comprises the city of Nas-
sau.

“Anything that serves to
improve the look and feel of the
heart and soul which is the city
of Nassau, only bodes well for
future investments and the future
of tourism in the country,” Simon
says.

He adds: “I think moving for-
ward we can look to see how this
City of Nassau Revitalisation Act,
in particular works for the city of '
Nassau, and hopefully we can
expand that into the Family
Islands and give them the same
benefits that Nassau has.”

Tourism Today is on ZNS
Channel 11 tonight at 8.30pm.












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.

















onmdas © = oO

s 0

Oooc< fw

cp = Oo

»

THE TRIBUNE





LOCAL NEWS

WHEEL DONE!

Sandals and Beaches Resorts reward ‘green-thinking’ team
members across its Caribbean properties with bicycles







PICTURED receiving-bicycles are Vanria Culmer, Supervisor of.the Year; Competition winners - Clint Higgs, Valdino
Higgs, Gail Rahming, Laverne Smith and Dennis Black, general manager, Robert Keesler, Marion Anderson, Team
Member of the Year; Shawn Thompson, Chairman’s Award; Guest Choice Award, Marcian Cooper; Competition
winners - Glendina Nairn, Shanderia Kemp and Melissa Nichols, environmental manager.

TO recognise top perform-
ing team members and
encourage healthier and more
environmentally-friendly
lifestyles, Sandals and Beach-
es Resorts have rewarded out-
standing and ‘green-thinking’
team members across its 22
Caribbean properties with
bicycles!

Thirteen team members
from Sandals Royal Bahamian
were acknowledged in the
group-wide awards as part of a
‘green’ reward programme,
where over 100 mountain
bikes were presented to staff
at each Sandals and Beaches
resort.

Sandals Royal Bahamian’s
Team Member of the Year,

‘Supervisor of the Year and
the winners of the resort's |
annual Guest Services Award °

‘and Chairman’s Award were

all presented with mountain —
bikes “along with winners, of =
an environmental initiative
held among employees in Nas-
sau.

In addition to existing
‘stars’, team members at San-
dals Royal Bahamian were

challenged to devise energy-

saving measures for both their
individual departments and
the resort as a whole with the
best and most innovative tak-
ing the honours.

Shanderia Kemp of the
front desk was one of the last
team members to submit her
entry for the resort’s environ-
mental challenge and in the
end her submission was one
of the best.

“T was walking past the
notice board when I saw the
flyer explaining the competi-
tion.and J realised I had two
hours to have my answers into
the public relations office. I
immediately collected an entry
form and got to work identi-
fying ways to conserve energy
in our department as well as

cost- ;cutting measures in the.

lobby and storeroom. I am

very happy to have my very |
,.own bicycle which J intend to

use daily for exercise and fun.”

Chief executive officer of
Sandals and Beaches Resorts,
Adam Stewart; said: “We are
always coming up with cre-
ative and meaningful ways to

reward our Sandals and
Beaches stars, and what better

way than with bicycles that.

will help them lead healthier
lifestyles and live greener
lives.”

He also commented that the
bicycles were “a great way to
cope with the rapidly rising
gas prices we’re all faced with
right now. I am delighted that
we can reward excellence,
help our team members and
play our part in protecting the
environment with this one ges-
ture.”

Mr Stewart pointed out that
Sandals and Beaches “have
the best team members a com-
pany could ask for and: I am
tremendously proud of the
fantastic work they do every
day at our resorts across the
Caribbean.” |

Sandals Royal Bahamian
has long been committed to
preserving the natural beauty
of its surroundings and, along
all of Sandals and Beaches
resorts, has been awarded the
much-coveted Green Globe
21 Award for Environmental
Stewardship.

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MONDAY, JULY 28, 2008, PAGE 9

THE GARDEN!

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PAGE 10, MONDAY, JULY 28, 2008

THE TRIBUNE
LOCAL NEWS



CC COSC OEE E EOE ES OEE CEO OEE ESE COE OES

INSIGHT x

For the

stories
behind the
news, read :
Insight on :
Mondays:

.
°

TENDERS FOR

Janitorial & Maintenance
Services

The Bahamas Electricity Corporation invites

Tenders from eligible bidders for Janitoral & Main- |

tenance Services for its following locations:

(1) Administration Building/ Big Pond Complex
(2) Blue Hills Power Station
(3) Clifton Pier Power Station

| Bidders are required to collect packages from the

Corporation’s Administration Office, Blue Hill &
Tucker Roads by contacting Mrs. Delmeta
Seymour, Telephone No. 302- 1158.

: Tenders are to be delivered on or before 4:00 p.m.

28th August, 2008
and addressed as follows:

Mr. Kevin Basden
General Manager -
Bahamas Electricity Corporation —
Blue Hill & Tucker Roads
Nassau, Bahamas.

Marked: Tender No. 675/08
Janitoral & Maintenance Services
Administration Building/ Big Pond eempiex

Marked: Tender No. 676/08
Janitoral & Maintenance Services
Blue Hills Power Station

Marked: Tender No. 677/08
Janitoral & Maintenance Services
Clifton Pier Power Station
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W HETHER the mar-
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(and particularly if it’s down),
buying a “fixer-upper” and
updating it can prove to be a
profitable venture.

As with any real estate invest-
ment, however, it’s wise to enter

edge and caution will help you
avoid common pitfalls.

The ideal candidate for such a
purchase would be priced
roughly 30 per cent below the
value of nearby homes, and
located in a clean neighbour-
hood. The only thing you can’t
repair or improve is a poor loca-
tion.

And just because you can
improve almost anything does-
n’t mean that you should!
Avoid homes in need of truly
major (and unprofitable) repairs
such as the foundation, struc-
tural plumbing, or complete
kitchen and bath renovations.
Because these features are sim-
ply expected by buyers, they
won’t necessarily add any value
to your offering.

Another aspect that is often
overlooked is your fixer-upper’s
proximity to where you live.
Keep it within a short distance,
because you’ll want (and need)

Consumer

Welfare Unit
relocated










The Ministry of Labour
and Social Development
has announced that the
Consumer Welfare Unit
has been relocated to the
National Insurance Board
Building on Wulff Road.

The department can be
contacted at by telephone
cat 356-9391-4, and by fax
at 356-9395.

| |







MEDICLINIC

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THE TRIBUNE . MONDAY, JULY 28, 2008, PAGE 11

Bahamas Junior Judo team
carries off three medals in
international competition



THE Bahamas’ Junior Judo
team placed fourth in this year’s
US Junior Judo Open by win-
ning three medals - one silver.
and two bronze.

The competition featured
athletes from 26 countries.
Medal winners were Taryn But-
ler (Silver), Samann Pinder
(Bronze) and Cameron Lynch
(Bronze).

The team prepared hard with
special training camps, seminars
and advanced coaching.

“I felt we were ready,” said
Bahamas Judo president D’Ar-
cy Rahming. “However, I con-
cede that this competition was a
lot tougher than last year.” _

Last year the Bahamas won
five medals at the same event.
Judo is an Olympic sport that is
fast growing in the Bahamas
with over 300 practitioners.

Mr Rahming said: “One
extremely bright spot is the fact
that the US has agreed to add
the Bahamas Invitational in
2009 to its point system. What
this means is that in February
we will add to the sport tourism
of our country by hosting some
100 American and Caribbean

families in a Friendship Tour-
nament.” Anyone interested in ©
participating in Judo may con-




SOMETHING TO CELEBRATE: The graduates.
By Sgt Rolean Smith



THE Inmate Education Unit of Her Majesty’s Prison conduct-
ed a graduation ceremony for some 133 inmates in more than 20 dis-
ciplines (technical, vocational and academic courses). The exercise
was held under the theme “Turning Difficulties Into Opportunities.”

National Security*Minister Tommy Turnquest was on hand to
address the inmates, officers, relatives and friends assembled for the
event. —

Minister Turnquest called the graduation ceremony, “Prison
reform in action.” He stated that one of the highest priorities of,
prison reform is to rehabilitate inmates. He further stated that an
important aspect of rehabilitative initiative is to encourage inmates
to think beyond the loss of personal freedom and the constraining
walls of the correctional facility, to the day when they will once
again walk free, and join their families, their communities and
society. ' :

He commended the Inmate Education Co-ordinator, Mrs Anita
Dillet, for the dedication and commitment she has given and con-
tinues to give to the work of the Correctional Institute.

Mr Turnquest also announced the appointment of Mr Lloyd:
Stubbs to the post of co-ordinator for the Inmate Technical and
Vocational Education at the Institute.

The inmates were told that they have begun a journey down a
road of hope and that they should not look back.

Office, Blue Hi
_tacting N
T

General Manager _

Bahamas Electricity Corporatior

Blue Hill & Tucker Roads
Nassau, Bahamas

Marked: Tender No. 672/08
Customs Clearance & Delivery
‘Services to andfrom Docks

Marked: Tender No.673/06
Customs Clearance & Delivery __
Services to and from Airports & Post _

whole o'

tte col





MEDAL winners Taryn Butler, Cameron Lynch and Samann Pinder, with
national coaches D’Arcy Rahming and Neville Munnings.

tact Mr Rahming at the All-star
Family headquarters on Joe
Farrington Road.

Graduation ceremony for some 133 inmates

Mi By EWURABENA APPIAH

For the past eight years
Mediterranean Shipping
Company, one of the world’s
leading global shipping lines,

. has called The Bahamas home
and over time has tranformed the
way that thousands of companies

. throughout the
business. MSC Baharms is a
subsidiary of Mediterranean
Shipping Company SA. a

. privately owned company
which has its roots in Geneva
Switzerland and as of June 2008
has been operating 3% container
vessels with. an intake capacity
of overa million TEUs (Twenty
Equivalent Unit) a year.

When MSC Bahamas began
its services in 2001, they began

- with a staff of only 3, offering
six service options through the
Freeport Container Port with an
annual volume of less than 700

. thousand shipments. General
Manager of MSC Bahamas,
Manuel Ruiz, can personally
atlest to the tremendous growth
of the Baharmin company
“Nowadays” he says, “we have
14 services through Freeport
with a volume of over 1.4 million
movesa year "using the Freeport
Container Port as the major hub
of operation.

In the most recent years
Mediterranean Shipping
Company has also begun
shipping to several new regions
as well. “We have opened new
connections from Freeport to the

Caribbean, and Central America” »

Ruiz says “earlier this year we
officially opened our Nassau
offices, giving us but especially
Bahamians greater access, to over
270 port destinations. This means
they have greater buying power
with greater access to cheaper
markets,” Ruiz noted, ‘plus
consolidating the shipping means
less cost for buyers.”

Ruiz credits the.success of
the company to the expansion of
globalization around the world,
‘the idea is that you can reach
more ports with less vessels, and
decrease the traffic time to ray
destinations. ” He added that ‘the
most economic way to transfer
goods is through ocean transfer
and because of that, MSC has
facilitated growth averaging 30%
annually world wade.”

The successof Mediterranean
Shipping Company has also
translated into success for the
Freeport Container Port which ts
one of Grand Bahama’s largest
employers. ‘The tremendous
growth Mediterranean Shipping
Company has had in the past few
yearshasmmre than augmented the

ee A= = ~ 7m. + eee. ees ot!
Lice GAs hi asta si ei it ey

y

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Financing
Available

ie

Insurance
Available

MTOM

YOU CAN UPGRADE ©
ahamas com

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Tel: 325-0881/2 Open:Mon.-Fri. 8a.m.-5:00p.m.

| MSC Bahamas success continues

MSC NASSAU ROUTE LOOKING TO EXPAND Pictured atArawak
Cay is the MSC Baharnas, which sails twice a week to Nassau from
Port Everglades, Florida on Monday's and Thursday's. MSC Baha-
mas began its services in Grand Baharna in 2001 and expandto Nas-
sau in late 2007. MISC’s international presence inthe shipping market
means Nassau retailers can now connect with over 270° ports world
wide under one Bill of Lading, saving consumers much needed trans-
shipment costs. MSC is looking into expanding its current route to
three times aweek and has already begun increasing its Nassau staff

to accommodate this need.

outputofecontainers atthe Freeport
Container Port says Ruiz. The
container port directly employs
approximately 860 persons and
indirectly the number is about
200 persons, “he says, “while not
their only client Mediterranean
RT)

“Our new port
expansion into
Nassau gives us

a direct service

to Nassau from
South Florida
twice a week,”
said Alex Paine,
MSC | Nassau
Manager, ‘due
to our expanding
requirements we
are looking into
expanding this
service to three
times a week!”

a ee
Shipping Company is one of the
companys biggest clients and
therefore one of Grand Baharna’s

‘largest contributors. ”

Due to the cornpanies

continued success in Grand.

Baharm and the demand of

the Nassau companies for their .

service, MSC Geneva opted to
expand to Nassau in late 2007.
‘Our new port expansion into
Nassau gives us a direct service
to Nassau from South Honda
twice a week,” said Alex Paine,
MSC Nassau Manager, “due to






in their shipping needs and at the
end of the day cheaper shipping
tates, ”

Faine noted that since thei
official opening in January with
the Prime Minster and a trajonty
ofhis Cabineton the MSC Lirica,

, one of the company’s crise ships,
business has steadily increased.
‘{ think having a mapr camer
calling directly to the Nassau
market has caused an increase in
competition among the shipping
lines commented Paine, “which
should stimulate better customer
service and rates for all—a van,
win for consumers.” We have
seen this increase translate. into
rapid growth for us and our
skeleton staff of 3 has increased
to nine at the end of July 2008.

_ MSC has not only had great
business success over the: past
several years buthas joined thelist
of corporate’ sponsors donating to
keycauses throughoutthecountry
“We contribute every year to the
Grand Baharna Children’s Home.
and we contribute through Rotary
to several other charities as well,
We're not doing it to get our).
lames in the paper, but because)
they're needed, ” says Ruiz. “Ath
the end of the day, we are part):
of the community, "he says. “the!
community is built and developeds.
by the people that live in it, so itis’:
vitally important to us to continue,
to contribute both froma business)”
and a philanthropic standpoint” |

With all this in mind Ruiz}?
ended that “MSC is here to stay, |
we have been embraced by The |.
Bahamas and we look forward to |
our cotitinued growth here. When |
Icame herin 2001 we had 3 staff, |
now we have fifty tao with a
growing need for more, I think |
you can safely say we ate here to,
stay!”



our expanding requirements we
ate looking into expanding this
service to three times a week!”
Because of MSC’s huge
intemational presence if
the shipping market Nassau
retailers can now connect with
over 270 ports world wide,
and Mediterranean Shipping
Company is the only company
in the Nassim market that can
ship in the five (5) continents
under one Bill of Lading, saving
the consumer much needed
transshipment costs. “Despite
the fact that we are headed into
a global recession” noted Paine,
“ Mediterranean Shipping



Cormpany has decided to keep
investing in The Bahamas and
especially in the Nassau market,
which gives clients more choices









MSC OFFERS 270 PORTS TO BAHAMIANS Just mak
ing it under the San Francisco bridge is one of MSC’s many ship *
ping vessels. MSC currently ships to over 270 port destinations world |
wide, “for Baharnians this means they have greater buying power.
with greater access to cheaper markets,” says General Manager
of MSC Bahamas, Manuel Ruiz, he added that “consolidating the’
shipping means less cost for buyers.” Right now the rnost eCOnorn &
ic way to transfer goods is through ocean transfer and because of cs
that, MISC has facilitated growth averaging 30% annually world wide. *

FN
a
4

CD

iumes


PAGE 12, MONDAY, JULY 28, 2008

THE TRIBUNE



ROYAL DFIDELITY

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Re: Manager, Pension Services
51 Frederick Street
P.O. Box N-4853
Nassau, Bahamas
- F: 326.3000

careers@royalfidelity.com

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THE SUCCESSFUL CANDIDATE WILL HAVE THE
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e Strong work ethic with ability to get things done.

SUMMARY

The successful applicant will be primarily responsible for
Royal Fidelity’s business development for pension :
business including soliciting new business, presentations
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AN ATTRACTIVE COMPENSATION PACKAGE, INCLUDING A COMPREHENSIVE RANGE OF EMPLOYEE
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LOCAL NEWS



D-Day looms
for developers

FROM page one

specific information regarding
Ginn’s finances, he could not
speculate if the company would
make the restructured payment
date.

“I’m aware of that (missed
payment)..:but I do not have
any information about anything
related to Ginn’s financial situ-
ation,” Mr Laing said yester-
day. He said he was not aware
if Ginn developers have been

* in contact with the prime min-

ister or officials at the Bahamas
Investment Authority in light
of the possible default.

Ginn Sur Mer sits on 1,957
acres of oceanfront property in
West End. The planned 4,400
condominium and hotel units
centred on a 20-storey tower
with 1,800 single family resi-
dence sites were. expected to
inject hundreds of millions of
dollars into Grand Bahama’s

sluggish economy.

Mr Laing said he still hopes
the development moves ahead.

“The reality is, if you have an
economic activity that is pro-
posed for an island - especially
an island with economic chal-
lenges like Grand Bahama - it’s
helpful for those projects to go
forward. Ginn being what it is,
and as sizeable as it is, it would
be important. We would love
for every single project that’s
slated for Grand Bahama to
move forward,” said Mr Laing.

According to published
reports, after developers missed
a June 30 loan payment they
were granted a 30-day fore-

bearance agreement which

allows the company to keep the
property while negotiating a
new payment plan.
Switzerland-based Credit
Suisse, and other financiers,
agreed to.delay foreclosure until
July 31 to allow the parties to
work out a restructured pay-

Hope from ashes of despair

-FROM page one

Last night an Abaco source

told The Tribune: “Chad is a |

very progressive, intelligent man
who does what he says he’s
going to do.

“T expect him to fulfil his
hopes. He is well-motivated and
when he sets his mind on some-
thing, he does it.”

Maxwell’s went up in flames
last week, causing massive dis-
ruption for Abaco shoppers.

An investigation into the

cause of the blaze has now been:

completed, but the results will

not be known for some days.
Locals do not suspect sabo-

tage or arson, but feel it is more

of homes, pie major
‘e-wiring project to her
Do-It-Yourself home repair,





PYF sets the standard for
providing quality tools, supplies,
lumber, building materials and

likely that a power problem
caused the fire.

Maxwell’s, which sold food
and dry goods, was described
as a “very popular” store.

But its destruction will not
mean lost jobs because Mr
Sawyer is diverting staff to his
Price Right store, which is also
in Marsh Harbour.

“It is a remarkable feat to be
able to keep everyone on,” said
a local source. “The fire came as
a big shock to everyone, but it’s
reassuring to know that at least

‘the employees will not suffer.”

Maxwell's was the fourth gro-
cery store to burn down in
Marsh Harbour since the late
1970s.

expertise, to keep. your project

On-Time and
On-Budget!

H, Be eerste

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Ee Coenen eo

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PREM REN l ae

188 Wulff Road
P.©. Box $S-6366, Nassau, Bahamas
Phone (242) 323-3973 or 325-3976

ment plan, the international
press reported. The Ginn com-
pany could not meet principal
and interest payments-on the
loan due to the US real estate
market slump.

In February, Ginn Resorts
president and CEO Bobby
Ginn said the resort’s core facil-
ity would be up and running by
2013, The Freeport News report-
ed. Development on the $4.9
billion resort began in Decem-
ber, 2005. Land clearing of
almost 2,000 acres is 70 per cent
complete, according to Ginn
Sur Mer’s website.

If Ginn fails to meet its
restructured loan payment on
Thursday, it faces possible
default on the West End resort

_ as well as a golf resort in North

Carolina, and two resorts in
Florida. Attempts to secure a
comment from the developers
of Ginn Sur Mer were unsuc-
cessful up to press time last
night.

EE iia

FORMER South Abaco
MP Robert Sweeting was hon-
-oured at a special dinner on
Saturday night. FNM col-
leagues - including Prime Min-

ister Hubert Ingraham and
several Cabinet ministers -
were at the Abaco Beach
Resort to pay tribute to Mr
Sweeting. Several prominent
party names, including Tom-
my Turnquest, Michael Bar-
nett, Alvin Smith and Johnley
Ferguson, congratulated the
ex-MP for serving three par-
liamentary terms. Also among
guests was Edison Key, who
retained South Abaco for the
FNM at last year’s general
election.






























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Open Mon - Fri 7:00am - 4:00pm
Saturdays 7:00am - 3:00pm

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Fax: (242) 326-7452 :
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THE TRIBUNE



= 1amas
ae ince

half million STOW 470% 1 1

tourists’

FROM page one

ud he on tourism refiant
arp aran

Romeu predicts that Cuba will
be flooded with eager Americans
and this surge would likely drive
tourism in the now communist
country to full capacity, leaving
the Bahamas and ne re ‘ountrics
with Cuba's “overtle

“As US vi een s overwhelm
capacity, visitors currently vaca-
tioning in Cuba would have to be
redirected toward neighbouring
countries. Henee. while short-run
constramts would be binding in
Cuba, the uld enjoy a
period of sustained demand,” the
report said.

The change would. according
to Romeu, cause some countries
to potentially lose American
‘tourists but gain new non-US
tourists

“The results suggest that total
Caribbean arrivals jwould increase
‘by approximately 2-11 per cent;
hence, as costs ohey fundamentals
in lieu of trade barriers, strong
tourism growth would wait some
Caribbean destinations while oth-
ers would potentially face long-
term declines.” the report said.

However, Cuba is not expected
to lose its non-US tourists even
while preparing to reectve US
arrivals.

The timing and pace of the
opening: of the Cuban tourism
market is unknown and would
rely on several geo-political con-
siderations but it’s not a question
of if, but when, it will happen.
Statistics compiled .by. the
Caribbean Tourism Organisation
report that tn 2006, Cuba and the
Bahamas had asroom inventory of
45,270 and 14,929 respectively.

These figures represent a
downturn for the Bahamas, which
previously saw a peak in room
inventory at 15,500 units.

Local tourism experts said that
these. figures’ represented an
“alarming Joss” in market share
for the Bahamas

Frank Conmiito. executive vice-
president of the Bahamas Hotel

effect wot

countrics in the ¢






Fegs1on WO

Association. has said-that he
believes that Cuba’s tourism
incline.- wich has burgeoned.

considerably without the US mar-
ket — should be a wake-up call to
Bahamians.
“Ultimately. we've got to con-
stantly remind ourse Ives that ‘the
competition is growing, that
Cuba's tourism industry — despite
the US cmbargo - continues to
grow in that island nation, “And
we must be ever-mindful of:con-
' tinuing to improve our product
and our offering as a destination
and recognising that the compe-
tition continues to grow and-Cuba
could ver¥ well be an even more
formidable campetitor tn the

future.” he said ,

fed els eer ae
De

Caribbean en



FROM page :
pee “It is clear that

the time for

concrete action
with achievable
targets is now.”

Ambassador Albert
Ramdin told delegates attend-
ing the Caribbean Regional
Sustainable Energy seminar
that. the high cost of oil was
imposing a major financial
burden.

“For example in 2004, the
Caribbean region imported
about 163 million barrels of
oil at a cost of $6.5 million. At
current crude oil rates, the
same amount of petroleum
will cost our countries more
than $24 billion if we take into
account growth in energy
demand. In other words,
energy costs have risen by 370
per cent in Jess than four
years,” he pointed out.

Mr Ramadin said that at this
rate, many countries. will
spend almost all their export



Albert Ramdin

earnings from commoditics
such as bananas, sugar and
coffee, and from services such
as tourism, to purchase petro-
leum products.

“Indeed, it can be argued

had not developed service
products such as tourism and
offshore financial servicts,
they would not be able to pay
their energy bills. This sce-
nario strikes at the heart of

Stolen meat litters street
FROM page one

male occupants speeding through the area shortly before police
arrived. Police are uncertain what the two men had intended to do
with more than 200 pounds of frozen meat.

SCHLAGE.
THE KEY TO SECURITY

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aw

that if Caribbean countries -

five

the security of the region and
demands immediate action.”
he added.

Mr Ramdin said there was
no doubt that the situation
could have far-reaching social,
economic, financial and even
political consequences if the
issue of energy security was
not addressed swiftly and deci-
sively.

“Ttis clear that the time for
concrete action with achiev-
able targets is now,” he said.

The situation was particu-
larly grim when taken from
an environmental perspective,



he added, as consumption of

fossil fuel was destroying the
region’s habitat at an alarming
rate,

Today, the Caribbean
depends on fossil fucls to sup-
ply 93 per cent of its energy
needs. This ts clearly unsus-
tainable. We must now engage

2

Firm’s Receptionist.

a pleasant attitude.

correspondence.

The suecesstul :
and benefits.

interes

pat any certificates

PEEPLES Saye



all applicants for



“in thee

TON

earned,

MONDAY, JULY 28, 2008, PAGE 13



years

in a process of creative think-
ing that will lead to a change
energy consumption
ethic of Caribbean countries
and peoples. And here again,
| urge Caribbean nations’
politicians, legislatures, poli-
cymakers, private sector and
civil society to act with a sense
of stewardship and urgency,”
Mr Ramdin said.

“In my view it is not only
governments and elected offi-
cials that are responsible for
ensuring that new directions
are developed, it is a respon-
sibility for all in society.”

He said his organisation was
working with Caribbean states
to support the development
of renewable energy on a

regional basis through the

Global Sustainable Energy
Island Initiative (GSEI1),
‘which the Bahamas ‘is to be
part of..

| SWEETING | O'BRIEN
DUNSEL & ATTORNEYS-AT-LAW

Position of Receptionist

GLINTON | SWEETING | O’BRIEN seeks an energetic candidate to serve as the

Phe applicant should have strong communication skills, an excellent telephone yoice and
The applicant should be able to handle and distribute all calls in a
professional and client-friendly manner and receive/distribute all incoming and outgoing
In addition, the applicant must be computer literate and willing to assist
with other areas of work when necessary. .

ipplicant will be offered an attractive and competitive package of salary

ted persons should fax their resumes to our offices at 328.8008, along with copies
cor forward the same to Mrs.
on: Albapplications wilk be tr eated as confidential. .While we thank
their interest, we will only contact those oe are short listed.









Serial

rapist
FROM page one

police invesigations.

The deviant is said to be a bi-
sexual serial rapist who has tar-
geted, stalked and raped three
persons at gunpoint in their own
homes. Unconfirmed reports said
the fiend raped three persons on
the island three weeks ago — two
women and a 14-year-old boy.

Police said the rapist strikes in
the early morning hours, entering
the homes of unsuspecting vic-
tims wearing gloves.and a mask.
The perpetrator was described
as about 5ft 9ins to 5ft 10ins tall,
of slim build, wearing dark
clothing and armed with a hand-
gun and/or knife.

He reportedly covers his vic-
tims with a cloth and uses a con-
dom during sexual intercourse.

After forcing himself on vic-
tims at gunpoint or knifepoint,
he makes his victims shower to
destroy any physical evidence.

Residents on the island are
being warned to secure their
homes, particularly in the early
morning and to call police at
911/919 if they see or hear any-
thing suspicious.

Dominique Glinton at



Aue)
Mercedes
Benz
Was $22,000

NOW $21,000

1998
NTE Ze Ta)
Atlas
Was $10,700

Gunmetal
Was $7,500

MeN LY!

1998
Honda
(oti (e3
Was $9,900

eR Uy

@

ib aL3
Mazda
Roadster »
Was $8,900

a NOW $7,900



=nlague



mY

VILLAGE ROAD
NEAR
SHIRLEY STREET

‘
i
i



SEAGER ge SLO IUD INIT

ae

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PAGE 14, MONDAY, JULY 28, 2008

LOCAL NEWS

THE TRIBUNE



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The Chavez effect: a ba debe

@ By Sir Ronald Sanders

HERE is no question
that the two oil-relat-
ed initiatives launched by
Venezuelan President Hugo
Chavez — Petro Caribe and

- ALBA —are life belts to many

Caribbean countries, notably.
Cuba and Jamaica.

However, Chavez’s continu-

ation in government is not guar-
anteed and when he goes it is

very likely that thé Vénezue-

lan largesse will go with him
leaving many. . Caribbean
economies in grave au.

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EARLE
ALEXANDER
BOWLEG, 72

of Richard Court’s off |

Farrington Road will
be held on
Wednesday, July
30th, 11:00 a.m. at St.

Agnes Anglican \

Church, Blue Hill



Bethel Brothers Morticians |
Telephone: 322-4433, 326-7030
‘Nassau Street P.Q.Box eS

aU See Seed Ze

Road. Archdeacon I. Ranfurly Brown, assisted
by Fr. Bernard Been, Archdeacon E. Etienne
E. Bowleg and Canon Warren Rolle will

| officiate. Interment will follow in the St. Agnes
Cemetery, Nassau Street.

He is survived by his wife, Castella Bowleg;

children, Patrice and William Hall, Marcian
Bowleg, Toni and Decarlo McPhee and Michael
Bowleg; grandchildren, Racquel and Ethan
Hall and Dylan McPhee; he was pre-deceased
by his parents and siblings, Winston, Hugh

Bowleg and Beryl Seymour;. other siblings’)

include, Coral and Van Bonimy, Archdeacon
Etienne and Cheryl Bowleg, Leslie and Paula
Bowleg, Derek and Fern Bowleg, Thelma and
Canon Warren Rolle, Stephanie Bowleg-
McKenzie; uncle, Alfred King; in-laws,
Kenneth Seymour, Carol Bowleg, Ludella
Sands, Thelma Pinder, Cleophas and Vanria
Gibson, Charles Gibson, Edith and Oscar
Thompson and a host of other relatives and
friends too numerous to mention.

Friends may pay their last respects at Bethel

Brothers Morticians,

#44 Nassau Street on

Tuesday from 10:00 a.m. to 6:00 p.m. and on
Wednesday at the church from 10:00 a.m. until

service time.

Central
Caribbean countries against the
. United States which he calls

THA, ETE

.. future: - ust

Since 2005 when the Petro

' Caribe arrangement was -

. launched, Venezuela is report-.

| .ed to have financed $2 billion or
: 43. per cent of the 59 million.





Already opposition groups

“in Venezuela have indicated

that they regard Petro Caribe as
“bribe diplomacy” — an attempt
by. Chavez to win the support.of
American | and

“the evil empire.” They have

also argued that the money:

Chavez is lending to. the Petro _ 1

Caribe countries on very con-

cessionary terms could be spent.
on projects in Venezuela and. «. Fe
invested for the CONALEY: Ss. ie

barrels of oil it has sent to

- Caribbean and Central Ameri- :
- Can-countries..

‘Cuba is the biggest benefi-

-ciary, followed by Jamaica, the -
. Dominican Republic ‘and

Nicaragua, but smaller

'.Caribbean countries such as

-. Antigua and Barbuda and |
‘Dominica have been recipients -

“» too. St Lucia, which had joined
Barbados, Trinidad and Toba- -

' go-and the Bahamas, in stand-

_ New Shipments Anivedy

| _ of. unprecedented oil prices.

ing aloof from Petro ‘Caribe, is
now: negotiating terms in light

Lifeline

: Under the Petro Caribe.

Agreement, 86,000 barrels of
oil per day has been shipped to

. ‘the signatory states other than
..Cuba. Cuba gets a separate

lion’s share of some 70; 000 bar-

_relsa day.

With: oil prices at US$139

- per barrel, the initiative is a life
line to governments that would

’- otherwise be drowning. Up to

‘two weeks ago, they paid for

half of the oil imported from

' Venezuela in 90 days while the

payment for the other half was
converted to a 25 year loan at a

low interest rate — 1 or 2 per
‘cent.

Professor Nome Girvan
points out that Petro Caribe
funding to the Caribbean now.

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Sir Ronald Sanders

-exceeds both EU and USAID

funding by a wide margin. Petro

‘Caribe credits to importing
countries from June 2005 to
-December 2007 amounted to
- $1.17 billion and are expected
~ to reach $4.5 billion by 2010.

. Only remittances from their
Diaspora now exceed Petro
Caribe funding to the signatory
states. In 2007, Latin America
and the Caribbean countries
received $66.5 billion in remit-

-tances from the US, Europe

and Japan — more than they
received from Foreign Direct
Investment and Official Devel-

- opment Assistance combined.

'.Chavez announced two
weeks ago that once the price
for.a barrel of oil exceeds $100
(which it has for some time
now), only 40 per cent will
require immediate payment

and 60 per cent will be con-

verted to the 25 year loan. But,
while the arrangement eases
the. strain on the foreign
exchange = earnings ‘of
Caribbean countries, it also
increases their debt significant-
ly to Venezuela.

_.. Their capacity to repay that
debt in the troubling economic
circumstances in which they
now find themselves is very
doubtful.

Their terms of trade inter-
nationally have worsened as
many of them have lost preter-

ential access to, the European









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Union (EU) market for their
traditional exports, bananas and
sugar. The recent Economic
Partnership Agreement (EPA)
which the Caribbean countries
(except Cuba) have signed with
the EU will also deprive them
of revenues from tariffs on EU
imports that they are required
to forego.

So, the Petro Caribe agree-
ment, in so far as it provides
Caribbean countries with the
opportunity to defer payments
for at least half of the oil they
are consuming, is vital to the
foreign exchange position, if
not survival, of governments.

At the same time, it is
increasing their debt. And, 14
Caribbean countries were
already among the 30 most
indebted nations per capita in
the world, before Petro Caribe.

An indication of the diffi-
culty these countries face in
finding money to service debt
and meet funding obligations,
other than the provision of
goods and services in their local
communities is the fact that
none of them has so far con-
tributed to a Petro Caribe Fund
for social development projects
that Chavez initiated.

Reform

The deal was that Venezuela
would start off the fund with
$50 million, and all the Petro
Caribe countries would con-
tribute. Two weeks ago, the
Jamaican Prime Minister,
Bruce Golding, announced that
his government would shortly
contribute $5 million, having
had 12 projects considered for
financing by the Fund. There
has been no indication from
any other government that they
will — or could —- make any con-
tribution.

In the meantime, conditions
for Chavez within Venezuela
are not advantageous. Consti-
tutional reform proposals, that
he tried to push through last
December to give himself
greater powers, failed. On
November 23, Venezuela will
hold regional and municipal
elections to elect:state gover-
nors in 22 of its 23 federal
states, 219 members of: aOR,
al parliaments, 332 ma are
city thaydrs, and 13 city"Goun-
cillors. Keen Venezuelan
observers say these elections
will be the most.decisive since
Chavez came to power in 1999.

If these elections result ina
further weakening of Chavez’s

presidency, Caribbean and -

Central American countries
that are now lining up to drink
at the font of his unique oil poli-

eae RE a oS a |
for the Caribbean





Sergei Grits/AP Photo

VENEZUELAN PRESIDENT Hugo Chavez speaks to the media shortly on
arrival at the airport in Minsk an Wednesday during his one-day visit in

Belarus.

cies would be well advised to .

start looking for alternatives to
‘the Venezuelan dependency
that now exists.

But the global community,
too, particularly the United
States, Canada and the EU
should be worrying about the
capacity of Central American
and Caribbean countries to
cope if the Chavez life belt is

cut. They too should be devis- '

ing means to help these vulner-
able countries, or the conse-
quences will arrive at their

doorstep in refugees, illegal :

CONGRATULATIONS

Cameron Deion Moss









On being named “Valedictorian” of the Class of 2008
of Galilee College and obtaining your

Associates ass in Law and Criminal Justice

From your mom and Dad, Calise and Ricardo.
Barry, and sister Rikki Barry. We Lov you.

Keep striving to achieve your jest
just the beginning, as God has so much 1 more
in store for you.

immigration, increased drug
trafficking and the need for sig-
nificant financial intervention
to stabilise economies severely
injured by the battering of high
oil prices.

(This commentary is an
abridged version of a speech at
the Royal Commonwealth Soci-
ety in London on July 21st)

Responses to: ronald-
sanders29@hotmail.com to:ronaldsanders29@hotmail.co
m>





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DR. COLLEEN FITZCHARLES RETURNS HOME AS
THE FIRST BAHAMIAN FEMALE SURGEON AND
THE FIRST BAHAMIAN BORN PLASTIC SURGEON

Dr. Colleen Fitzcharles- Bowe once again walks the halls of the
Princess Margaret Hospital (PMH), this time practicing as a
Canadian trained Hand, Reconstructive and Cosmetic Surgeon.
~ This area of specialty includes breast reduction and reconstruc-
tion, hand trauma and reconstruction, acute and chronic burn
surgery, facial trauma, cosmetic and reconstructive ‘surgery. as
well as pediatric plastic SUrBey,

Beginning her early education: at ‘Sunt ‘Thomas Moore Primary
School, Dr. Fitzcharles then went on to complete her junior
level education at Bishop Leonard Junior High School. Her
senior high school years where spent at the Government High
School where she passed her General Certificate of Education —
AGERE, in a Eoglist Art ane the Sciences. ‘ SER
In 1984 she entered ‘Phe: Piorida Memorial Collese EMO
where she obtained her Bachelor of Science degree in Biology,
“graduating Magna Cum Laude in 1988. While at FMC she
served as President of the United Negro College Fund
Association, and was the recipient of the “Most Outstanding
Women of America” award. In 1990, she pursued her tertiary
level education at The University « of The West Indies where she :
“studied medicine, and it is here that she met her husband Dr,
Dane Bowe. Earning her medical degree in 1995, Dr. Fitzcharles
began. her internship at the Princess Margaret Hospital and
soon became a Senior House Officer in the Department of
Surgery. In July of 2002 she was given an In-Service Award by
The Public Hospital Authority after she attained one of five
positions at Dalhousie University General Surgery training
program in Canada. Two years later, she transferred into one of ©
two positions in’ The Department of Plastic, Reconstructive
and Hand SUEBCHY, at the same institution. oe



Pes

















At Dalhousie University ie young surgeon in training held the
position of Chief Resident and medical student lecturer. She
was required also to ‘present research papers at Canadian
medical gatherings and to publish. them in, The Canadian
Journal of Plastic Surgery, and the International Journal called
To her credit, Dr. Fitzcharles has also completed
additional . courses in’ facial trauma, hand trauma, and
microvascular free tissue transfer for facial reconstruction.

In May af 2006, Dr. Fitzcharles was fortunate to join the
“Operation Smile” team as a junior surgeon on their mission to
Vietnam. Under the leadership of Dr. Ken Wilson, Dr.
Fitzcharles was able to perform repairs in cleft lip and palates,
and burn reconstruction. This she deems as her most valuable
and rewarding experience. Dr. Fitzcharles’ studies concluded
with her successfully passing her Royal College Examinations in
Plastic Surgery which then earned her the title Fellow Of The
Royal College Of Surgeons-Canada (FRCSC)

on May 14, 2008.

Dr. Fitzcharles would like to thank her husband, Dr. Dane Bowe
who is an Orthopaedic Surgeon at the PMH, her family who has
stood by her throughout her career- Lloyd and Vere Fitzcharles
(parents), Lisa, Simone and Mario Fitzcharles (siblings), Doreen
and Kevin Marche (parents-in- law), Darron Bowe (brother-in-
law), Flossie Seymour, Bria Seymour and Barry Seymour. Dr.
Fitzcharles would also like to thank Professor Renn Holness,
Dr. Robin Roberts, Dr. Duane Sands, Dr. Locksley Munroe, Dr.
Williamson Chea, Dr. Geoffrey Pennerman, Dr. Glen Beneby,
Dr. Patrick Whitfield and Dr. Charles Diggis who have been
instrumental in her career. She is grateful also to her mentors
in Canada, Dr. Winston Parkhill, Professor Steve Morris, Dr.
Ken Wilson and Dr. Jason Williams. To all of her family,
friends, nursing colleagues and medical personnel who have
vee her eae her studies, she says “Phank you.”

PAGE 16, MONDAY, JULY 28, 2008



Drive [t!, Drag It!,



THE TRIBUNE





ACOLYTES bear-the body of the late Levi Gibson, 94, well respected businessman, real estate
Ne and UNOS into St Matthew’s Anglican Church on Friday.







Se de ae os 3 ee : é :
FOX HILL MP FRED MITCHELL, godson and confidante of Levi Gibson, pays tribute during
Friday’s service. “He was a kind man not one given to ceremony or excess. He was an impor-
tant and powerful man but not one to boast of, to vaunt himself,” he said.



PICTURED from left to right: Pat Sweeting, Thelma Gibson, ¢ PiaHBS Gibson, Vanessa Sweet-
ing Rosenberg. and Phillip Sweet rn 4s sp cd

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THE TRIBUNE MONDAY, JULY 28, 2008, PAGE 17

THE FUNERAL OF LEVI GIBSON













PICTURED at the
front is Governor
General Arthur D.
Hanna. In the pew
immediately behind
him are (left to right)
Charles Gibson, Avis
Outten, Charlisa Gib-
son, Kim Gibson and
Dwayne Gibson.



yr ad







PICTURED from left to right: Claudius Burrows Fdmund Knowles, Henderson Burrows, David Fawkes and perpen fron Cre Pye Baad fe teaannes Bae” .

; ( pepe : Ai es PICTURED from left to right: former Member of Parlimanet Sylvia Scrivens, Leader of the Government in the House

ao They are members of the Long Island Association, of which Levi Gibson had been a lifetime Dr. B J Nottage, Senator Alison Maynard, Max Gibson, Fred: Mitchell and the President of the Senate. Lyn
_ os as 2 ace Holowesko. bead






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PICTURED from lett to right, front row: George Cox, his wife Setella, Lilith Adderley, Paul Adderley; back row:

Harry B. Sands, Olwen Sands, Peter Christie and Godfrey Kelly. Behind them are Tammy Dean, Iris Dean and

Mavis Adderley, wife of the late Dr. Francis Adderley.






5 a ae

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head of the

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day’s service.

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PAGE 18, MONDAY, JULY 28, 2008 | 7 THE TRIBUNE

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THE TRIBUNE MONDAY, JULY 28, 2008, PAGE 19

. LOCAL NEWS | |

A PRIVATE security
guard passes by a
painted blast wall in
Baghdad, Iraq, Fri-
day, July 25, 2008.
The art ornaments
life with murals of
soothing landscapes
and historical
heroes covering the
blast walls that are
now as much a part





Baghdad muralists
resist push for

sectarian themes |















of Baghdad’s
cityscape as‘date
palms and desert
dust.

AP Photos



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Baghdad's cityscape as date palms and desert dust.



PENTA CAR
PAGE 20, MONDAY, JULY 28, 2008

THE TRIBUNE



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Lionel Cironneau/AP Photo

IN THIS May 31, 2008 file photo, a view of Angelina Jolie and Brad Pitt’s Miraval property in Cor-
rens, France, is seen. French police say camouflaged paparazzi who managed to get onto the

grounds of Angelina Jolie and Brad Pitt’s chateau in southern France on Thursday fought with the
Hollywood couple’s guards.

Police: Paparazzi, quarts
fight at Jolie chateau

PARIS

It sounds like a scene from
“Fight Club.”

French.police say camouflaged
paparazzi who managed to get
onto the grounds of Angelina
Jolie and Brad Pitt’s chateau in
southern France on Thursday
fought with the Hollywood cou-
ple’s guards. Both the paparazzi
and the Jolie-Pitt’s head of secu-
rity confirmed the confrontation
but gave widely different ver-
sions of events, according to the
Associated Press.

Freelance photographer Luc
Goursolas said he broke a
guard’s finger ‘and bit another

until he bled, and that they hit —

him with a walkie-talkie,
punched and kicked him, leav-
ing a head wound that required
three stitches.

“T was pouring blood. I threw
myself at them, put blood all over
them, and told them that I had
HIV so they would stop hitting

’

me,” Goursolas told The Asso-
ciated Press on Friday.

Tony Webb, head of security
at the Miraval estate, said Gour-
solas went “berserk” without
provocation and denied that his
guards punched the photogra-
pher. He said Jolie and Pitt may
be forced to move if their priva-
cy is not respected, and that the
couple feels besieged. He said
local police are not taking the
problem seriously enough.

“If they get invasion of their
privacy like this then they would
have no option, and they would
have to go somewhere where the
laws are upheld a bit better,”
Webb told the AP.

“It’s just not fair, they are in
their own property and you’ve
got him (Goursolas) and there
could be another dozen out there
that we can’t find”. on the 1,235-
acre property, he said. “They are
just a couple trying, ta.bring up
their young family.”

Goursolas said he wasn’t on



‘the property but in woods near-

by where the guards, on quad
bikes, found him. “The forest
belongs to everyone,” he said,
adding that he walked five hours
to get there. “I wasn’t in their
garden.”

/ He said he didn’t tik any
photos. The colleague who was
with him, camerawoman Mari-
anne Saint-Arroman, said she
didn’t take any video. She con-
firmed they were wearing khaki
and camouflage to avoid being
seen in the woods. “We, weren’t
going to wear a red sweater,” she
said.

Webb, however, said the
paparazzi were on the property,
about 600 yards from the house,
on a wooded hill from where
Webb suspects that previous
shots were taken of Jolie and Pitt
in their garden with their chil-
dren. He said Goursolas had also
camouflaged his equipment and
that he was “there for a good 5
ee

Chel






URS









Poland says no to DNA

TU SPOCZYWA SERCE
FRYDERYKA.

testing of Chopin's heart

@ WARSAW, Poland

LIKE A religious relic, the
heart of composer Frederic
Chopin rests in a Warsaw
church, untouched since it was
preserved in alcohol after his
death in 1849 at age 39, accord-
ing to the Associated Press.

And that’s how the Polish
government wants to keep it.

Scientists want to remove the
heart for DNA tests to see if
Chopin actually died from cystic
fibrosis and not tuberculosis as
his death certificate stated. But
the government says that’s not a
good reason to disturb the
remains of a revered native son.

The heart lies in a jar sealed
inside a pillar at Warsaw’s Holy
Cross Church — and the only
time it has been removed was
for safekeeping during World
War II.

CAUSE OF DEATH

Before it was returned in 1951,

a doctor examined the heart and
found it perfectly preserved in
an alcohol that many think is
cognac. Chopin died in France,
where his body is buried, but he
asked that his heart be sent to his
‘homeland. '

Cystic fibrosis, an incurable

genetic disease, was not discov-
ered until many decades after
Chopin’s death, and the scien-

tists who want to examine the.

heart say many of his symptoms
match that illness, including res-
piratory infections, recurrent
fevers, delayed puberty and
infertility.

A spokeswoman for the Cul-
ture Ministry, Iwona
Radziszewska, told The Associ-
ated Press on Thursday that min-
istry officials consulted experts
and decided that “this was nei-
ther the time to give approval,
nor was it justified by the poten-
tial knowledge to be gained.”

One of the experts consulted,
the head of the National Fred-
eric Chopin Institute in Warsaw,
Grzegorz Michalski, argued the
scientists failed to demonstrate
that they had sufficient exper-
tise carrying out such DNA tests
or that the chances of success
were high.

Master

wee

Technician

Scientists want to

verify cause of death |

He said the “dominant view”
of Chopin experts *is that the
proposed research is going to
serve first and foremost to satis-
fy the curiosity of the project's
authors,” while offering no “new
knowledge that would have a
meaningful impact on the assess-
ment of the figure and work of
Chopin.” :

One of the scientists seeking
to do the tests, geneticist Michal
Witt, acknowledged that DNA
testing might not prove whether
Chopin was afflicted with cystic
fibrosis or not.

Part of the uncertainty, he
said, comes from not knowing
what condition the heart is in

after so many years in alcohol.
But he said his team was made
up of experts, including foren-
sic molecular biologist Tadeusz
Dobosz, fully capable of carrying
out the study.

Witt believes authorities
rejected the testing because of
the relic-like status of the heart
of Chopin, the musical genius
claimed as one of Poland’s great-
est treasures.

“[’m sure that played a major
role, and it’s understandable,”
Witt said.

Chopin was born in 1810 in
Zelazowa Wola, a village near
Warsaw, to a Polish mother and
French father. —

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THE HEART of Polish-
born composer Fred-
eric Chopin rests in
the Church of the Holy
Cross, in Warsaw,
Poland, on Thursday
July 24, 2008. The
Polish government
has rejected a request
by scientists to run
DNA tests on the
heart. They had hoped
to test their belief that
the musical genius

,| might have suffered
and died from cystic ©
fibrosis, and not of
tuberculosis, as his
death certificate says.

Alik Keplicz/AP Photo

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IN THIS Thursday, July, 24, 2008 file photo,
U.S. Democratic presidential contender Sen.
Barack Obama, (above) D-Ill, places a not in
the Western Wall, Judaism’s holiest site, in

THIS IMAGE released by the Israeli newspaper
Maariv friday July 25, 2008 and attributed to
Democratic presidential contender Sen.
Barack Obama shows a prayer the newspaper
says Obama wrote and left in the stones of the



THE TRIBUNE









Tara Todras-Whitehil/AP Photo

‘Obama’s private
ished

RD | (iy

Israeli newspaper under
fire for printing the note

m@ JERUSALEM

AN ISRAELI newspaper’s
decision to publish a handwrit-
ten prayer left by Barack Oba-
ma in the cracks of Jerusalem’s
Western Wall drew criticism
Friday as an invasion of his pri-
vacy and his relationship with
God, according to the Associat-
ed Press.

In the note, placed at Judais-
m’s holiest site Thursday, Oba-

‘ma asks God to guide him and

guard his family.

“Lord — Protect my family
and me. Forgive me my sins,
and help me guard against pride
and despair. Give me the wis-
dom to do what is right and just.
And make me an instrument of
your will,” reads the note pub-
lished in Maariv.

Maariv ran a photograph of
the note on its front page Fri-
day. It said the note was
removed from the wall by a
Jewish seminary student imme-
diately after Obama left.

Obama spokesman Robert
Gibbs would neither confirm
nor deny the note was Obama’s,
but the handwriting was simi-
lar to another message written
by the presidential candidate
during his time in Israel this
week.

CONTROVERSY

The paper’s decision to make
the note public brought quick
criticism from religious author-
ities. The rabbi in charge of the
Western Wall, Shmuel Rabi-
novitz, called it an intrusion on
Obama’s intimate relationship
with God.

“The notes placed between
the stones of the Western Wall
are between a person and his
maker. It is forbidden to read
them or make any use of
them,” Rabinovitz told Army
Radio.

The newspaper’s action
“damages the Western Wall
and damages the personal, deep
part of every one of us that we
keep to ourselves,” he added.

Many visitors to the 2,000-
year-old Western Wall leave
notes in its crevices bearing
requests and prayers. Obama
placed a small note and then
bowed his head during a pre-
dawn visit Thursday, following
a day spent in talks with Israeli
and Palestinian leaders.

The Western Wall is the lone

remaining outer retaining wall-

of the second biblical Jewish
temple, which was destroyed
by the Romans in A.D. 70.
Revered as Judaism’s holiest
site, it stands where the Bible
says King Solomon built the
first Jewish Temple, which was
destroyed by the Babylonians
in 586 B.C.

“It’s inappropriate that the
prayers of a person at the West-
ern Wall should become a sub-
ject of public knowledge at all,”
said Jonathan Rosenblum, a
Jerusalem-based analyst of the
religious community and direc-
tor of the Orthodox Am Ehad
think tank.

“There is a rabbinic prohibi-

‘ tion against reading other peo-

ple’s private communications,
and certainly anyone who goes
to the wall expects that those
communication will be protect-
ed,” Rosenblum said.

Another Israeli newspaper,
Yediot Ahronot, published an
article Friday saying it had also
obtained the note but decided
against publishing it out of
respect for Obama’s privacy.
Nearly all other Israeli media
ignored the story.

Thousands of notes and
prayers are stuffed into the
cracks of the wall. In recent
years, the Western Wall Her-
itage Foundation, which oper-
ates the site, has opened a fax
hot line and a Web site where
people overseas can send their
prayers and have them printed
out and put in the wall.

The wall is emptied of its
notes several times a year. The
papers are treated as a prayer
book and buried, rather than
burned.

While Maariv drew criticism,
the removal and publication of
the note did not appear violate
any laws. Police officials said
they were not investigating the
incident.

The handwriting appeared to
match a message that Obama
wrote Wednesday in the guest
book at Yad Vashem, Israel’s
official Holocaust memorial. It
Was written on stationery from
the King David Hotel, where
Obama stayed while in Israel.

Obama signed the Yad
Vashem message. The note
from the Western Wall was
unsigned.

At the Western Wall, Oba-
ma was greeted by a crowd of
curious onlookers and photog-
raphers.

~




THE TRIBUNE



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HBO-E ldingLighton [0 enlist soldiers into the U.S. Army. (N) 0 (cc) KNOCKED UP

Vampires (2007) ‘R’ (CC)

re *% RUSH |Generation Kill O (Part 3 of 7) | & * & AMERICAN BEAUTY (1999, Comedy-Drama) Kevin Spacey,
HBO-P OUR 3 (2007) |(CC) Annette Bening, Thora Birch. An unhappy husband rebels against his sti-.

‘PG-13' fling existence. 1 'R’ (CC)

(:00) Costas NOW Examining the |The Mummy: | *% BIG DADDY (1999, Comedy) Adam Sandler, Joey /In Focus: Shed. |
HBO-W [current state of major league base- [Dragon Lauren Adams. A goofy ne’er-do-well adopts an im- — |ding Light on

ball. © (CC) ; pressionable youngster. ‘PG-13' (CC) Vampires

115) & &% THE LAST MIMZY (2007, Fantasy) Joely |» LICENSE TO WED (2007, Romance-Comedy) | x x x OCEAN'S
HBO-S Robin Williams. A clergyman puts a ben engaged | THIRTEEN

couple through the ringer. 0 ‘PG-13' (CC) (2007) 0

ichardson, Timothy Hutton. Siblings discover a box of
Cone % & SNAKES ON A PLANE |(:20) * * * BLADES OF GLORY ae Comedy) | * BALLS OF FURY (2007, Com-
MAX-E 006, ae) Samuel L. Jackson. |Will Ferrell, Jon Heder, Will Arnett. Rival male skaters ety Dan Fodler, ate

VH1
VS.

aa aee
©







toys from the future. © ‘PG’ (CC)
compete as a pair. 1 ‘PG-13' (CC) Walken. 1 ‘PG-13' (CC

115) & & x FERRIS BUELLER’S DAY OFF (1986) | x *» THE DEPARTED (2006, Crime Drama) Leonardo DiCaprio, Matt
atthew Broderick. A brash teen and his friends have |Damon, Jack Nicholson. An undercover cop and a criminal lead double
an adventure in Chicago. 1 ‘PG-13' (CC) lives. 1 ‘R’ (CC)

am MOVING MCALLISTER THE EX (2006, Comedy) Zach Braff, Amanda Peet.
SHOW 2007, Romance-Comedy} Ben iTV. A chronic underachiever locks horns with his wife’s
ourley. iTV, ( ‘PG-13' (CC) former sweetheart. ‘PG-13'

) %» LIVE | & & MISSION: IMPOSSIBLE Ill (2006, Action) Tom Cruise, Philip Sey-|(:15) PARIS (2003) Chad Allen. A
REE OR DIE —|mour Hoffman, Ving Rhames. Agent Ethan Hunt faces the toughest villain jlawman es a Chinese woman es-
(2006) ‘R’ of his career. 1 ‘PG-13' (CC) cape from t





MOMAX







TMC





e sex trade. ‘R’



TRU Cops “Indianapo-|Ocean Force |OceanForce [Ocean Force |OceanForce {Disorder in the Court Il: 20 More | |
lis” A (CC) Outrageous Courtroom Moments

Weeds Nancy |Secret on ofa
goes over Guiller-Call Girl (iTV) |
mo’s head. a

MONDAY, JULY 28, 2008, PAGE 23







pee. t Orta)





let Charlie the
| Bahamian Puppet and. ;
his sidekick Derek put
some smiles on your pe

kids’s faces.







Bring your children to the
Mctlappy Hour at McDonald 's in
Malborough Street every Thursday
from 3:30pm to 4:30pm during the
month of July2008.




Enjoy Great Food, Prizes and Lots of Fun.

{T)

i'm lovin’ it




PAGE 24, MONDAY, JULY 28, 2008 THE TRIBUNE



COMIC PAGE

CALVIN & HOBBES

GOSH, | FOLLONED THAT

LADY HALFWAY AROUND THE

200, THINKING SHE WAS
WY MOM.






WHY DONT MOMS WRITE THEIR

NAMES ON THEIR, CALVES

Sp THIS KIND OF THING
WOULDN'T HAPPEN ?

T WONDER WHERE T AM.
AND WHERE'S HOBBES ? I
THOUGHT HE WAS RIGHT

‘Tribune Comics , :






JUDGE PARKER

SAM, THAT LAST DRIVE
WAS 250 YARDS IF
IT WAS AN INCH!

YOU CAN! WHACK © mavge steve was Weal
RIGHT.--ITS ALL IN
THE ATTITUDE!

IT WOULD
BE NICE IF IT

} COULD HIT
LIKE THAT ON



©1968 Universal Press Syndicate





Sudoku is a number-placing puzzle based on a 9x9 grid with
several given numbers. The object is to place the numbers 1 to
9 in the empty squares so the each row, each column and each
3x3 box contains the same number only once. The difficulty
level of the Conceptis Sudoku increases from Monday to
Sunday










AND HERE'S THE BEST PART—\
THEY/LL FLY ME OUT TO MEET Y SOUTH
WITH THEM AND VISIT SOME DAKOTAS!
ECOSENSITIVE GRASSLANDS...

THE PRAIRIE CONSERVANCY CALLED
ME — THEY'RE INTERESTED IN
COMMISSIONING PAINTINGS.




ST]

HATS ,
WONDERFUL?












EE SS

IKE







THE WAY THINGS ARE GOING,
I'M GOING TO BE HISTORY

ie



















©2008 Conceptis Puzzles, Dist. by King Features Syndicate, Inc.

“TM GETTIN’ WORRIED. WE HAVEN'T PASSED
A HAMBURGER JOINT FOR MILES.”



Difficulty Level ® & & *& 7/26



Best described as a number crossword, the task in Kakuro is to
fill all of the empty squares, using numbers 1 to 9, so the sum of
each horizontal block equals. the number to its left, and the sum
of each vertical block equals the number on its top. No number
may be used in the same block more than once. The difficulty
level of the Conceptis Kakuro increases from Monday to Sunday.



© 2008 by King Features Syndicate, Inc. World Rights reserved





.. AND NO WIFE TO NAG
ME ABOUT MY CHOLESTEROL

I HAD THREE CHILI

DOGS, FRENCH FRIES

SOME ONION RINGS,
TWO BURGERS

BUMMER !
THEY BEAT
US...

WELL, ATLEAST
THE DAY WASN'T
A TOTAL LOSS



























©2008 Conceptis Puzzles, Dist. by King Features Syndicate, I







5/6/3[1|4 8]9|217
7/9/4/2/5/3[6/8/4 eet 188
1/2(7/619
Biil2 a 45/3 3/1 3/98 7/9
1/5/9/6/3/2/8/7/4 a
7/4/916/8 M4 211
6)2)7|9 a3 3/1/5 814|7/6|9
4/3/8/5/1/7/2|6/9 2|8 11 M4 /2(8 1314
3/4/1/8/2/5|7/9/16 6/9 9 (6/1 BBO 4
2/7\6|4/9/1/5/3/8 1|2(6|3 M3 |1/7/2
9/8/5/3/7/6[1/4]2 517|9|8 Mig 9/4 |8 13 |

















OKAY. SET UP THE
BOARV AN? ILL
BE RIGHT BACK




Roland Berzinsch v igors Rausis, ae

Riga 1993. Latvia's formerworld =, sl

champion Mikhail talhaddieda + Rid 2,

year earlier, so the tournament tf LE ant

celebrated his memory. Tal was pot
famous for his imaginative
tactical style, so naturally they
offered a special prize for the
best sacrificial finish. Today's
position won the award, but |

_ teckon it had Tal spinning in his

(©2008 by King Features Syndici'e, Inc. World rights reserved.



Chess solution 8434 : 2 RxhS gxh5 2 Og5+ Khb 3
Bg?+ Bxg? 4 Oxad and Black resigned.



: - HOW many words of four letters
grave. His phenomenal vision is ‘ or more ‘an you make from the
teas a etters shown here? In making a
would have spotted White's . word, each letter may be used
‘routine finish even in a blitz uses once only, Each must contain the

centre letter and there must be



©2008 by King Features Syndicate, Inc. World rights reserved.

game ora simultaneous display, Words in at least one nine-letter word. No
Looking fora chess book, set, or the main Topay's TARGET
00 i d 22;
computer? - : 40 (or caorey: Solution camonee:
aoe VesTERDAY’s SOLUTION
2ist enure euro ewer here hereon

hereupon hero heron horn
hour newer nowhere opener
owner peer pore pour power
preen prone prow prune pure

CRYPTIC PUZZLE

Across Down
1 Village tragedy (6) 1 Draperies not approved by

puree renew reopen rope rune
rupee were where whereon
WHEREUPON wore worn wren

4 Employ completely and

beneficially (8) 2

9 Treated with care (6)

10 Galley vessels? (8)

12. | turn to a trifle (4)

13 Get over
an affliction (5)

14 Apportion food, say? (4)

17 You'll be lucky to win one
(4,2,6) '

20 His pupils are encouraged
to make notes (5,7)

most modern societies (8)
Note when the army order
is given (4,4)

Flat iron? (4)

The pleasure of compen-
sation (12)

Father to the French wife
of a German husband? (4)
Conductor, we hear, for
German songs (6)
Sycophants, according to
an enemy’s version (3,3)

ZR Rea

‘ERB REE ET

| ee ‘Ee

Century
Dictionary
(1999
edition)





Abandoning a Preconceived Idea

East dealer.
Neither side vulnerable.

fronted with the prospect of going
down in a contract that moments

asides et eae break | i | | | NORTH before had seemed a sure thing.
the summit a record? (8, @k9 This unexpected turn of events
24 | pick up a key to look Go up in public transport Pile tesicuc sles) a dar ett alte VK7 proved to be more than South could
round someone’s intended to take in others , || - || : | xz xz || #376532 handle. He finessed the diamond
home (5) (5) , AQS queen, losing to the king, and won
25 Awhole chapter ee ae a fight? (5) Pe ah een ian Seas soe * i the Sea return with oe sian to
may be devoted trung up (8) 2 3 say, he later misguessed which way
to him (4) , | leave the law to the big Across ‘ (3,3) ¥94 ¥108652 to take the spade finesse and finished
28 No one is in doubt that the guns (8) WJ 1 Grass-cuttin Down #K 1098 o— down one.
7 ill 9 & x A’) ¢ d
raid is over (3,5) Empty one container into N implement (6) 4 Right of voting (8) 10983 &J642 However, if South had more
irect i SOUTH calmly reviewed the situation after
29 In direct impact, but not another (6) N 4 Contraband (8) 2 Country of southeast Z Pee . oS ss
i i ; ; . AJ 105 discovering the diamond division, he
decapitated it seems (4-2) Trader who gives one a 5 9 Stir up (6) Asia (8) VA0T3 scuiil Have eal thabalie sia
. 2 s
30 oa of id ro (6) ; a. 10 Loyal supporter (8) 3 Sharp-eyed wildcat #AQ4 was still a 100 percent certainty.
ee bi pee h > 12 Space (4) (4) #K7 After East showed out on the first
yaa) Gained Homey? ” 13 Vacillate (5) Prosaic (6-2-4) The bidding: diamond, declarer should have
Sy indigestible focd a NoieS tA) for example . . . sent back Intent on being Wi teacher (4) Alliance (6) Pass 2NT Pass 6 NT mond toward the jack. West could

(6)

Yesterday’s Cryptic Solution

Across: 1 Edgar, 4 Ringlet, 8 Tea, 9
Fruitless, 10 Naivete, 11 Ashes, 13
Anthem, 15 Debris, 18 Marne, 19
Sackbut, 21 Termagant, 23 Lap, 24
Flashed, 25 Susan.

Down: 1 Estonia, 2 Gladiator, 3 Rifle,
4 Routes, 5 Nitrate, 6 Lie, 7 Tasks, 12
Harebells, 14 Eyewash, 16 Set upon,
17 Island, 18 Motif, 20 Cites, 22 Ria.

crooked (4)

Yesterday’s Easy Solution

Across: 1 Occur, 4 Address, 8 Van,
9 Blue whale, 10 Overdue, 11 Inlet,
13 Seeing, 15 Aghast, 18 Solar, 19
Riposte, 21 Barracuda, 23 Ass, 24
Red tape, 25 Token.

Down: 1 Obvious, 2 Conger eel, 3
Rabid, 4 Amulet, 5 Dowsing, 6 Era,
7 Sleet, 12 Loan shark, 14 Nirvana,
16 Treason, 17 Grouse, 18 Sober,
20 Plant, 22 Rid.

17

20

23
24

25
28
29
30

31

English painter,
d.1788 (12)

Class of words
(4,2,6)

Mature (4)

A hardwood

tree (5)

Untruthful person (4)
Knitted jacket (8)
North European sea
(6)

Tchaikovsky ballet
(4,4)

Fungal timber decay

Roundabout route (6)
Expression of
approval (3,2,3,4)
Normal (5)
Open-mouthed (5)
Record formally (8)
More direct route
(5,3)

Noisy quarrel (6)
Ancient enemy of
Athens (6)

Occupy

whole of (4)
Adequate (4)



Opening lead — ten of clubs.

One vital characteristic of any
successful player’s psyche is tem-
perament. A player who is easily
upset by a bad break, or who allows
a poor result on one deal to adversely
influence his play on a subsequent
deal, is not likely to do well over the
long haul.

Take this case where declarer lost
his cool after running into a 4-0 split
in a critical suit while playing what
looked like an ironclad slam.

He won the opening club lead in
dummy in order to tackle his most
promising suit, diamonds. But when
East discarded a heart on the low dia-
mond lead, South was suddenly con-

not afford to take the king since this
would establish the remaining dia-
monds. After dummy’s jack won,
South would then need to score only
three spade tricks without allowing
West to gain the lead.

This could be managed very eas-
ily by leading a club to the king fol-
lowed by a spade to the nine. Even if
the finesse lost to East, 12 tricks
three spades, four hearts, two dia-
monds and three clubs — would
become assured.

As it happens, the finesse works
and the queen later falls, so declarer
winds up with an extra trick as a
bonus for maintaining his self-
control,

©2008 King Features Syndicate Inc.
THE TRIBUNE MONDAY, JULY 28, 2008, PAGE 25








































: ‘

2

x

See i s




+a)
, 3S

5




Age

+

: Name of parents :

he of extn already taken ,
and the results - e.g. - Bahamas
— Junior Certificate (BCs) exams

and Pitman exams

| Mi The Tribune will be publishing its annual
~ ‘Back to School’ supplement in

August/September. In preparation for the —

supplement, which will feature all graduat-

‘Alist of exams expected to
be taken- Bahamas General
Certificate of Secondary

Education (BGCSE) exams:

The college/university they ing seniors who will be attending universi-
expect to attend -e.g. College ty/college, whether locally or abroad, we
of the Bahamas, Harvard = Pees ,
University, University of Miami = invite all parents, guardians and graduating
igs seniors to submit a profile on the graduat-
_ Name of degree expected to =) jng seniors, along with a photograph and

be sought-e.g.-Bachelors =
degree in English, Bachelors »
degree in Biology

contact information. Deadline —
is July 31, 2008.

_ What career they expect to
enter once their education is
completed - a doctor, Math
teacher, engineer





a Please forward all information to Lisa Lawlor, Tribune
Junior Reporter at email - lisalawlor@ gmail.com -
please note ‘Back To School’ in the subjectline. The =~

All extracuricular activi-
ties - club memberships, information may also be nand delivered or mailed in:

team sports/track and fs qs | Fe a oe ee
field, church activities ; gy | a - ERB ae





A list of honours/
awards/recognition stu-
dent has received




T



i

HE TRIBUNE

Q a) ee io
tt

at ceipat 22s

a





At aes Bee a ene tk eee eeetars Ma ae eS ese a a a se el il cin te





=a

“FRIGIDAIRE

» ROUNIT
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WALL UNIT “








SECTION B « busine



MONDAY,



JULY 28,

re



2008

@tribunemedia.net





Po =r guarantee stops
- CLICO Bahamas asset impair

‘™@ By NEIL HARTNELL j
Tribune Business Editor

CLICO (Bahamas) management
had considered writing down a $57 mil-
lion loan to an affiliate that represent-
ed about 59 per cent of its total assets,
the company’s year-end financial state-

ments revealed, but decided not to do’

so after its Trinidadian parent guaran-
teed repayment.

Deloitte & Touche (Bahamas), in
its audit report on CLICO (Bahamas),
did not qualify its opinion on the com-
pany’s financials, but still highlighted
the fact that almost 59 per cent of the
company’s $97.352 million in total
assets were invested in loans to a sub-
sidiary, CLICO Enterprises Ltd.

The audit report found that CLICO



Contidence For Lite

9%

* Auditors note Bahamian insurer’s high concentration of investments.in

loan to affiliate, which saw major asset suffer 20 per cent fall in value
t Company; s 2007 profits up 55 per cent after 110 per cent crown in pty revenues

Enterprises’ main investment, a Flori-
da-based real estate project called
Wellington Preserve, suffered a more
than 20 per cent decline'in market val-
ue, falling from an appraised $104 mil-
lion at year-end 2006 to $80.5 million at
year-end 2007, due to the collapsing

. Florida real estate market.

“This reduction in value has resulted
in [CLICO Bahamas] management
considering the possibility of impair-

ment of the loan,” Deloitte & Touche —

(Bahamas) wrote in its audit report.

“Although the market forecast for
Florida shows recovery of the teal.
estate market in 2008, management —
obtained a guarantee from C.L Finan-

cial (CLICO Bahamas ultimate par-
ent), whereby C L Financial states that
it will honour the obligations of CLI-
CO Enterprises to the company if the
need arises. As such, no provision has

‘been made for impairment.”

_Itis highly unusual for life and health

usually make mult
» diversify and. spre:



insurance companies to have such a
heavy concentration of their invest-

ment assets in just, one. loan, as they ~
iple investments to»



“tisk. Several
Bahamian insurance industry sources,
when contacted by Tribune Business,

questioned whether the Registrar of

Insurance was looking at the CLICO
(Bahamas) situation, arguing that he

should be “concerned” about the com- ~

pany’s potentially high exposure to just

one Beet that appeared to be depreci-

ating in value.

Lennox McCartney, the registrar,
declined to comment on the situation,
telling this newspaper: “I-don’t make
those kind of comments about a
licensee. We don’t make public state-

_ments about any concerns, or lack of

concerns, with out licensees. We have ~

SEE page 2B




WIAs

Bacardi. store ‘a global
first’ for the Bahamas

By NEIL HARTNELL
Tribune Business Editor

THE Bahamas will this week
score a global first with the
opening of Bay Street’s Bacardi
concept store, its owner telling
Tribune Business it hopes the
high-end project will have “a

domino effect” on downtown |

Nassau’s revitalization and pave
the way for more such stores to
open in this nation.

Juan Bacardi, president of the
Bristol Group of Companies,
which will own and operate the
Bacardi store under licence
from the world-renowned spir-

Sponsored by

Drive'a Honda Fit and get up to
C= ol -mteF- Lice










. ‘Possibilities’ for other

_ investment” in the 3,300 square -

. we can all be successful on Bay

PM: Freeport duty rates
paid * on submission,
not time of sale’ .

B@ By NEIL HARTNELL :
_ Tribune Business Editor

“OTHE: Government i is “very likely” to face legal action after
Prime Minister Hubert Ingraham effectively said Grand Bahama
Port Authority (GBPA) licensees who collect post-paid duties for
Customs must pay 2008-2009 Budget tax rates on their June 2008
submissions.

When asked by Tribune Business about the controversy that
has erupted over the Customs Department’s efforts to “retroac-
tively” apply the higher 2008-2009 Budget tax rates to ‘post paid’
bonded good sales that occurred

’ during the previous Budget year,
Mr Ingraham said: they.key. was:



ae quality of the idea
poor. In the past, I used
critical of. bank s services .



My PM Hubert Ingraham SEE_page. 7B unas



concept stores

its and liquor brand, said the
firm had made a “significant

foot store and been “willing to.
take arisk” onit.
““We hope it encourages oth-

er people to take Bay Street to
where we want to get it, so that

Street,” Mr Bacardi said. “It’s
the city. It’s what drives the mil-

SEE page 5B

Insurers.
_ losing ©
substantial

; One family with many needs For
sums 1 a solid financial foundation and
customized advice, their choice Is

Colinalmperial.

in |THE DAVIS FAMILY
premium | . <
dollars |

a By NEIL HARTNELL
Tribune Business Editor

THE Bahamian insurance
industry is missing out on poten-
tially millions of dollars in pre-
mium revenue, a senior execu-
tive has warned, because major
international developers and...
second home owners are plac-’.

SEE page 4B

Colinalmperial.

€entidence For tite



~ Need help maintaining your network?
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CERTIFIED
Parner
PAGE 2B, MONDAY, JULY 28, 2008

¢

THE TRIBUNE



International Markets

FOREX Rates

CAD$

GBP

EUR

Commodities

Crude. Oil

Gold

Weekly

0.9816
1.9910
1.5702

Weekly
$123.25
$936.90

International Stock Market Indexes:

DJIA

S & P 500
NASDAQ
Nikkei

Weekly _
11,370.69
1,257.76
2,310.53
13,334.76

% Change

-1.29
-0.39
0.91

% Change
-4.13
-2.20

% Change
-1.09
-0.23

+1.22
+4.15

2006 Mercedes. Benz cis s00-so00cc
Fully Loaded - Limited Edition

Just Like New!

- Must Sell!

PU ETH MME Ui yer Bs)
TO SET UP APPOINTMENT TO VIEW
a tay

PALL ee
yes

ES 1 kebab

attire

Presenting



i By RoyalFidelity Capital
Markets

IT was a quiet week in the
Bahamian stock market, with
investors trading in six out of
the 19 listed stocks. One stock
advanced and five remained
unchanged. A total of 35,030
shares changed hands, a signif-
icant decline from last week's
record trading volume of
349,885 shares.

Cable Bahamas (CAB) was
market leader for the second

' consecutive week, with 4,500

shares trading, their price ris-

ing by $0.01 or 0.07 per cent to -

close the week at $14.05.
FirstCaribbean International
Bank (Bahamas) (CIB) led this

week's market volume with .
9,870 shares, closing unchanged .

at $11.65. Colina Holdings
(Bahamas) followed with 7,410
of its shares trading, also ending
the week unchanged at $2.88.
Some 4,750 shares of Finance

Corporation Bahamas (FIN) .

and 4,500 shares in Common-
wealth Bank (CBL) also traded,
with both remaining unchanged
at $12.50 and $7 respectively.

COMPANY NEWS

Earnings Releases

Commonwealth Bank (CBL) .
released its unaudited financial :

results for the quarter ended
June 30, 2008.
CBL reported net income of

$24.5 million for the 2008 first ©

half, representing an increase
of 10.45 per cent in comparison

to the same period in 2007. Net |
interest income of $48 million *
rose by $4.8 million or 11.2 per ,

cent from the prior year.

Net income available to com- |
mon shareholders year-to-date ,
was $21.5 million, up $2.3 mil- .

CLICO, from 1B

ongoing discussions with CLI- .
CO and our other. licensees, .
that’s what we do.”

Karen Gardier, CLICO

(Bahamas) chief financial offi-
cer, told Tribune Business that ©
the company and Registrar of »

lion or 11.9 per cent over the
prior year.

For the most recent quarter-
end, earnings per share grew
from $0.09 to $0.10, increasing
by $0.01 or 11.11 per cent.

Net income available to com-
mon shareholders for the 2008
second quarter stood at $10.2
million, compared to $9.1 mil-
lion for the same period in 2007,
an increase of $1.1 million or
12 per cent.

Despite a sluggish economy,



- CBL reported that its annu-_

alised return on common share-
holders’ equity was up 35.5 per
cent from 33.9 per cent. How-
ever, return on assets (ROA)
decreased to 3.5 per cent from
3.65 per cent, which resulted
from a 22 per cent increase in its
cash and securities portfolios at
December 2007.

CBL’s total assets and liabil-
ities at June 30, 2008; stood at

$1.3 billion and $1.1 billion .

respectively, compared to $1.2
billion and $978 million at year-
end 2007.

Private Placement Offerings a

FOCOL Holdings (FCL) '
that it will be extending the’

deadline of its private place-
ment offering. |

The preferred shares will be
paying a dividend rate of prime
+ 1.75 per cent, payable semi-
annually.

INVESTOR CORNER

Money Market Securities
What i. is it?

Money market.securities are
short-term debt securities with a
maturity of one year or less, and
are normally classified as cash
equivalents. because they are
considered just as good, partic-

Insurance’s Office had “not
met” yet-in 2008 to discuss the
- CLICO Enterprises loan situa-
~ tion. >.

She explained that the invest:
ment in CLICO Enterprises,
and subsequent Florida real

Inireducing: _ /

cé$ House No. 1
4 Bedroom, 3 1/2 Bath “
1949. sq ft. ees.o0e

3 Bedroom, 2 1/2 Bath °,
1470. sq ft. $630,000

THOR EEA

ce# House No. 34
4 Bedroom, 3 1/2 Bath
2068. sq ft. $800,000

co# House No. 131

4 Bedroom; 3 1/2 Bath
2068. sq ft. $685,000
Aomunmneennensonononsan een
e+ House No. 114

3 Bedroom, 3 1/2 Bath

igi. sq ft. $745,000

ularly because of their liquidity,

The Bahamian Stock Market |

BISX CLOSING CHANGE VOLUME YTD PRICE
SYMBOL PRICE ste CHANGE
AML $1.81 $- © 0 9.04%
BBL $0.89 $-.% 0 4.71%
BOB $9.30 $- 4 0 3.23%
BPF $11.80 $- 0 . 0.00%
BSL $14.60 $- 0 0.00%
BWL $3.49 $-.§ 0 -4.64%
CAB $14.05 $+0.01 6,000 16.60%
CBL $7.00 -- 4,500 -16.96%.
CHL $2.88 $- } 7,410 -8.57%
CIB $11.65 geo ~<~--9:870 -20.21%
CWCB $3.89 $+0:57 0 -22.82%
DHS $2.85 $.. 4 0 21.28%
FAM $8.00 s- 0 0° 11.11%
FBB $2.35 $- | 0 -11.32%
FCC $0.44 $- & 0 -42.86%
FCL: $5.53 $- 4 0 6.76%
BING ee $12 S00 che 4,750 * 3.47%
IED)... $5.50 ‘Sa 2,500 -24.14%
ISJ $12.00“ s., $- & 0 "9.09%
PRE $10.00 — $- ‘i 0 0.00%
DIVIDEND/AGM NOTES:

e Consolidated Water Copan BDRs (CWCB) declared a
quarterly dividend of $0.013. per share, payable on August 7,
2008, to all shareholders of tecord date J une 30, 2008.

ee ICD Utilities (ICD) dedihred a quarterly dividend of $0.10
per share, which was paid on July 25, 2008, to all shareholders of

record date July 4, 2008.
* FOCOL Holdings (FCL)

$0.03 per share, payable on A

‘of record date July 31, 2008, :



) declared a quarterly dividend of
p ugust 12, 2008, to all shareholders

° Fidelity Bank (Bahamag (EBB) announced it will be hold-

ing its Annual General-Meeting on Thursday July 31, 2008, at

j 6p: m in the Victoria Room atthe British ana Hilton Hotel,
No. 1 Bay Street, Nassau, Baas : .

investment grade and safety. |!

Examples of money markét
securities are Commercial
Paper, Banker's Acceptances,
Negotiable Certificates of
Deposit, Federal Funds, Mon-
ey-Market Funds and Repl
chase Agreements.

The majority of investors in
these securities are financial
institutions and a small segment
of individual investors that pre: .

if
i

“estate acquisition, was made

using US. dollar-denominated

’ assets obtained byaCL Finan-



- gial subsidiary ‘in’ anothér

Caribbean territory, with the

‘Bahamian operation effectively
-acting asa eDas trough entity

a4




ui





+ Custom, solid wood cabinets

©" Granite or polished concrete

counter tops.

wot 6 Stainless appliances incl.

«Impact resistant windows
* Open plan living area

¢ Walk in closets —

¢ Central AC snipushout,

+ Front and rear porch’

« Completely vale Son

« Gated community

«24/7 security

* Club house & pools

« Tennis courts

‘« Homeowners association

° Underground yates

Floor plans and house specs available on the website
www2.charlottevillebahamas.com/listings.htm |

.) Elegant Turnkey Homes

in n sought after Charlotteville

SOLD DIRECT TO YOU BY THE HOMES ne ceca

SAAMI

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superior homes. Built to the highest standards, with
exceptional finishings, these houses are ready to

move in.

Contact our sales team:

Tel: 242 362 2727 or 242 3977 0570
Email:info@yourbahamas.com or
charlotteville@coralwave.com

Web: www.charlottevillebahamas.com/listings.htm _

ASK ABOUT AVAILABLE LOTS AT CHARLOTTEVILLE



fer safe, short-term investment
vehicles which enable them to
divest these assets into cash
quickly, if and when the need
arises. |

Typically, money market
securities are traded in large
units ($1 millionO or $5 million
minimum). That is the reason
why it is more appealing to
financial institutions rather the

‘individual investors.

for the development.

While the Wellington Pre- —

serve development had been
“on stream” since 2004, Ms
Gardier said CLICO Enter-
prises’ “major investment” had
been impacted by two key fac-
tors, which had’ delayed its
development. «
The first of these was the

‘2005 hurricane season, during

which four storms hit Florida,
while the second was the fail-
ure’to’ conclude a joint venture
agreement with a US company
that wanted a big parcel of land
in the Wellington Preserie
development.

Ms Gardier said that as a
result, CLICO Enterprises had
incurred “carrying costs” asso-
ciated with the development in
2006-2007. Now, a new project
plan had been approved, with .
real estate-sales underway. Th¢
project was scheduled for com-
pletion in 2009.

CLICO (Bahamas) chief

financial officer said the com-

pany did not see the Welling-
ton Preserve project, which is
targeted at the equestrian mar-
ket, as containing a “high level

of risk”. Ms Gardier added that

while the value of the land had
been impaired, this was due to
the overall state of the Florida
real estate market, and the com-
pany felt confident its true val-
ue had not been affected.
“Everything in business does
not work out as planned,” she
said. Under the loan agreement,
CLICO Enterprises pays an
interest rate of 12 per cent to
CLICO (Bahamas). In 2007, the
latter received $9.508 million in
interest payments on the loan.

In his statement'to share- —

holders, CLICO (Bahamas)
chairman, A A Duprey, said the
Bahamian operation generated .
a $672,125 net profit for the
financial year to end-2007, a 55
per cent rise over 2006.

The company’s premium
income increased by 40 per cent
during the 12 months to year-
end December 2007, driven by a
110 per cent increase in its:
annuity line to $31.196 million.

Policyholder benefits paid out
by the life and health insurer
rose by 31 per cent, while oper-
ating costs dropped by 17 per
cent.

For 2008, Ms Gardier said
CLICO (Bahamas) planned to
launch a new annuity product,
plus focus on its core business
and continue to develop its
agency sales force, She added
that the company would also
explore the possibility of
expanding its branch operations
to Family Islands where eco-
nomic growth was taking place.

CLICO (Bahamas) now
employs between 100-124 staff,
and Ms Gardier said: “What we
targeted in 2007 paid off for us,
which was the pension prod-
uct..... Businesses go through
cycles, and we see this as one
phase in our cycle. We have
plans, and see ourselves com-
ing out of this cycle into a posi-
tive one.”
THE TRIBUNE

ealtor chief eyes
Act reform sign-off
‘in the next month’



Se ne mee CeCe (Ul ie

CUNO UP TEU ROMO aC
hours as a Dental Assistant. |

na
UCC Tau CACAIC UTD E LLL







Rie DOCTORS HOSPITAL _

Health For Life

m@ By NEIL HARTNELL
Tribune Business Editor

THE Bahamas Real Estate
Association’s (BREA) is hoping

the industry will sign off on pro-
posed reforms to the main Act
governing the sector “in the
next month”, with the amend-
ments designed to give the leg-






























FAMGUARD

The Board of Directors
of
FamGuard Corporation Limited
is pleased to advise that
the second quarterly dividend
for 2008
of 6 cents per share
has been declared to be paid on
August 8, 2008
to -Shareholders of record as at
August 1, 2008

























islation “more teeth” and pro-
vide greater protection for
Bahamian realtors.

William Wong, of William
Wong & Associates, said on the
Act’s reforms: “We’ve made
good progress, and the first
draft from our attorneys came
in yesterday [Wednesday]. That
will be presented to our Board
next week, and in the next
month hopefully it will be for-
malized.” ;

Mr Wong said the proposed
amendments were designed “to
give the Act some teeth so we
can bring more discipline, and
to protect the local broker
against the foreign invader”.

“The BREA president:said
governments of all hues,
whether PLP or FNM, “don’t
negotiate well” with incoming
overseas investors when it came
to ensuring Bahamian services
professionals derived meaning-
ful benefits from their projects.

The Government, Mr Wong
added, often “forgets about the
architect, the realtor, the engi-
neer”, although he did not
blame developers because it
was their job to “cut the best
deal possible”.

“Plans are being designed
overseas and are then sent over
here to be stamped,” Mr Wong
said. “That’s hot helping the
architects much. We know how
the system works; we just want
something out of it.”

are filling out that market and
renting out their homes”, some-
thing that does not produce any
tax benefits for the Government
and takes business away from
hotels.

In his address to the Rotary
Club of west Nassau last week,
Mr Wong reiterated BREA’s
concern that its members would
not derive substantial benefits
from developments such as
Ginn and Albany because the
majority of real estate would be
sold via transactions outside the
Bahamas.

“Agreements of sale will be
signed in Palm Beach or Lon-
don, Toronto or New York. The
transfer of funds will all take
place offshore, and in very few
cases will local realtors. bene-
fit,” Mr Wong said. “For exam-
ple, if one of the condominium

’ units at Albany were to be sold

for $2 million, it is certain that

the realtors of record will be a

foreign salesperson.”
Currently, Bahamian law
allows developers to sell them-
selves real estate and property
they have constructed/devel-
oped, although it is stipulated
that local brokers/agents be
involved in any relsales.
Urging the Government to
find a way to ensure Bahamian
realtors benefited from large
projects, especially on re-sales,
Mr Wong said: “The only pro-
fessional group who receives a














Coordinator Medical/Surgical Unit

Qualifications:
. Registered nurse from an approved nursing program,
BSN required, MBA/MHA preferred,
Currently registered with the Nursing Council of the Bahamas,
Minimum of 3 years.managerial experience,
Strong computer skills,

Excellent interpersonal, organizational and leadership skills.



Position Summary:

* Supervision and evaluation of nursing staff to meet patient needs,









* Responsible for the day to day management of the Medical/Surgical Unit,
i i

* Coordination of support services and resources to facilitate the total care














The BREA chief added that direct benefit from the real
the Government “needs to start estate transactions being
giving incentives for more derived from these mega pro-
Bahamians to move to the Fam- _ jects is local lawyers, who are
ily Islands. Give the Bahami- required to act for seller and
ans an incentive to set up busi- _ purchaser in these conveyances.
nesses, move government facil-

ities there. At the moment, it’s :
ve the: second ‘homie buyers who ove SEE page 8B








FAMGUARD CORPORATION LIMITED

The parent holding company of
Family Guardian Insurance Company Limited
BahamsHealth Insurance Brokers & Benefit Consultants Limited
FG General Insurance Agency Limited
FG Capital Markets Limited
Â¥FG Financial Limited







Excellent benefiis ; Salary commensuraie with experience

t









Please submit resume to: Human Resources Deseret ult
Doctors Hospital | P.0.Box N-3018 | Nassau, Bahamas ;
-or call 302-4618 | Website: www.doctorshosp.com




























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«Past President

PAGE 4B, MONDAY, JULY 28, 2008

CFA Society of The Bahamas

MONTHLY SPEAKER EVENT

“Commodities: The Complementary Role of Real Asset
Beta in Your Portfolio”

2008/2009 Officers & Directors
President

David Remiret, CFA
Pictet Bank & Trust Lids, :

PO Bok N-4837, Nassau Bahamas

Ph: (242) 302 2217 *

Fax: (242) 327 6610
Email:dramirez@pictet.som
Vice-President he Ree
Christopher Dorsett, CPA’ - *
Citigroup Corporate & Investnemt Bank =
PO Box N 8158, Nassau, Bahamas’.
Ph: (242) 302 8668

Thursday July 31, 2008

12:00 pm General Meeting
* 42:30 pm Speaker’s Address
Please arrive promptly!

Luciano’s Of Chicago

Fax: (242) 3028969 | Cagliari Room
Cilinadnatcinadon

ze David Burkart, CFA

T wis : . ;
seals bead: cra. fh tbe 5 Senior Portfolio Manager/Strategist
whe aig Barclays Global Investors

ScotiaTrust Py i
PO Box N 3016, Nassau, Babamas San Francisco, CA
Members $25.00

Ph: (242) $02 5718
Non-Members $35.00

Fax: (242) $02 6944 * oe
Email soniaguryabloombsrg.nct Jy

ca Pid CFA CFA cee ae (Cheques payable to: CFA Society of The Bahamas)
tata Th oe

PO Box $$ 6289, Nassau, Bahantas ©
Ph: (242) 5025400 0.5.

Fax: (242) $02 $428

Email: nance

Programs d Public Relation“
Jeremy Dyk CFA RO ee
LOM Securities (Bahamas) Lad. t A

PO Box CB.12762-525, Nassau; Bahamas
Ph: (242) 323 0032

Fax: (242) 323-0084 87

Reservations: — PRE-REGISTRATON REQUIRED -
by Wednesday July 30, 2008, contact:
Jeremy Dyck, CFA, tel. 323-0032, jeremy.dyck@lom.com

*Prepayment required through one of the Board Members

Ena jcemdslonesmt
Education

Velma Miller

Toya Fey Mecha Ba Tine
PO Box N 4853, Nassau, Bahamas
Ph: (242)386 7764 8
Fax: 0) 305 cee

Mr. Burkart leads marketing, portfolio management, and investment
research for Barclays Global Investors’ institutional. and retail
commodities-related products in the Americas and Asia, where he is

| assisted bytwo portfolio managers with day-to-day fund
| management, new product development, and signal
‘| «| pegearch. Previously, he managed macro asset allocation strategies
sal.» | for BGI, which exposed him to the diversification benefits of the
eon bel 7) *.«| commodities asset class and motivated him to build BGI's U.S.
EverKey Global Parinets :* >] commodities business. Mr. Burkart also worked at’ Gap Inc. in
Nee Neer Ba i: =e “international treasury and corporate finance and Bank of America in
: foreign exchange and syndicated lending. He has been quoted by
«| Pensions & Investments, Bloomberg, and CBS Marketwatch and
’ | holds the NASD 3, 7, and 63 licenses.

Scholarships

-Mr. Burkart holds a BA in economics from UC Santa Barbara, an
_| MA in foreign affairs, focusing on the emerging economies of East-
Central Europe, from the University of Virginia, and an MBA in

| finance from the Wharton School of Business

Ph: (242)502 00°
Fax: (242) 3563677

Kristiga M. Fox, CFA.
CIT Holdings Limited”
PO Box N 1328, Nasi
Ph: (242) 363 1508!
Fax: (242) 362 102
Email: k{@gitco.uk
o. ”

THE TRIBUNE

Insurers losing
substantial sums
in premium
dollars

FROM page 1B

ing property business directly
outside this nation with foreign
brokers.

Marvin Bethell, J. S. John-
son’s managing director, said
Bahamian insurance agents and
brokers: were facing the same
issues as their real estate coun-
terparts, in that they were miss-
ing out on substantial amounts
of property and casualty insur-
ance business that was being
written by foreign brokers and
carriers on Bahamas-based real
estate.

While the law said “that any
insurance company writing busi-
ness in the Bahamas should be
properly registered to do so”
with the Registrar of Insurance
and appropriate regulatory
authorities, Mr Bethell
explained that the compliance
burden was on the foreign bro-
kers and carriers — not on their
clients.

Law
As it stood, Mr Bethell said
Bahamian law simply required

that foreign insurance entities
established correspondent rela-

tionships with Bahamas-based.

brokers and carriers and co-
broked, with commissions
shared.

“Tt doesn’t put the burden on
the property owner or individ-
ual. It puts the burden on the

insurance agency to be regulat-
ed,” Mr Bethell said. “Most of
these [high-end] second homes
are purchased by overseas
clients, who quite often take
their insurance to an overseas
broker.

AniOuae.

“There is a fair amount of
business we lose out on. I don’t
think a lot of this stuff is insured
through local companies or bro-
kers. Not all of it goes overseas,
though, thanks to the corre-
spondent relationships our-
selves and others have.”

Mr Bethell:said he was
unable to quantify how much
premium revenue the Bahami-
an insurance industry was miss-
ing out on, but “it’s no small
amount, because a lot of the
larger projects we don’t even
see. There’s a lot, I believe, that
is just passing by. It’s hard to
put a value on it, other than to
say it’s no small amount”.

Many major developers com-
ing into the Bahamas often
enjoyed well-established rela-
tionships with insurance bro-
kers and carriers in their home

country, making it natural for.

them to place their Bahamian
real estate there, and also
encourage clients to do so.

Yet Mr Bethell pointed out
that Bahamian real estate bro-
kers and agents provided a ‘val-
ue-added’ service to their

clients, especially these from

_ overseas.

“Suppose there is a loss and
something happens,” Mr
Bethell said. “There’s someone
here that you can deal with, set-
tle the claim with, who knows
the local rates and the local ter-
ritory.

“You know how many times
we get calls from insurers in the
US saying they don’t know how
to deal with this, don’t know
what the local regulations are?”

The Government was “losing
out on premium tax” as well,
Mr Bethell added, as it would
not earn the 3 per cent it levied
on gross premiums if policies
were placed directly outside this
jurisdiction.

Problem

To remedy the problem, Mr
Bethell suggested the Govern-
ment act on the industry’s sug-
gestions and, as realtors had rec-
ommended, include clauses in
Heads of Agreement negotia-
tions with major investors that
all insurance business be placed
through Bahamian-registered
brokers and agents.

Brochures on how to do busi-
ness in the Bahamas, and what
the regulations were, needed to
be handed to foreign developers
and home buyers at the earli-
est possible stage, Mr Bethell
pointing out that this made
sense for the Government,
Bahamian services s providers
and the economy.: eats

4

The American Embassy is presently considering applications for the
following position:

REALTY ASSISTANT

Serves as the senior member of the GSO Housing Office working

interdependently in administering and managing the complex

legalities and details of an interagency housing pool that spans from
| New Providence to Grand Bahama Island.

This position is open to candidates with the following qualifications:

At least two years of college credits in business, real estate, business
management, logistics, property management, public service or
related fields required.

Must have a good working knowledge of geheral office procedures,
Microsoft Office Suite and database management.

Emerald Coast
Munnings Drive
New Providence

Tal: (242) 341-4042
Fax: x: (242) 341-1407

- New: Brovidence’ s Newest Gated Community
: Me off JFK Drive to South West Ridge



SALES S OFFICE OPEN Monday - eae 9:00AM - 4:00 AM Daily

_ PRECONSTRUCTION PRICING
HOUSE & LOT PACKAGES STARTING AT - $335,000.00
TOWNHOUSE UNIT STARTING AT - $250,000.00
SINGLE FAMILY LOTS STARTING AT -$98,000.00
_ DUPLEX LOTS STARTING AT - $1 15,000.00

MODEL HOUSE Is OPEN FOR APPOINTMENT VIEWINGS
TO RESERVE YOURS CALL OUR SALES'GFFICE

Ph 242-341 4042 Fax 242-341-1407

emeraldcoastbahamas @ hotmail.com
_ www.emeraldcoastbahamas.com



PERSONALATFRIBUTES:

Must have the ability to meet deadlines in a timely manner and work
independently with minimum supervision.
Must be organized and have good customer service skills.

BENEFITS PROVIDED INCLUDE:

The successful candidate will be offered an excellent compensation
package including performance- -based incentives, medical and dental
insurance, life insurance, pension and opportunities for training and
development.

Applicants must be Bahamian citizens or U.S. citizens who are
eligible for employment under Bahamian laws and regulations.

Application forms are available from 8:00 a.m. to 5:00p.m. Monday
through Friday at the security area of the American Embassy, Queen
Street. Completed applications should be returned to the United
States Embassy: addressed to the Human Resources Office no later
than July 31, 2008. Telephone calls will not be accepted.


IHE 1 AIbUING



Bacardi store
‘a global first
for Bahamas

FROM page 1B

lions of tourists from the cruise
ships. It’s the centre point. It’s
our bloodline.

“The city’s sitting right in our
laps and we’ve got to treat it
and take care of it, making it
the pristine city that it is. It’s
our bloodline.

“We're going to create some-
thing in Bay Street to really
wow them up and get some-
thing going. This is the first of
its kind, the first time Bacardi’s
allowed its products to be sold
this way.

“No one in the world has this.
We're going to launch it in the
Bahamas. That’s the type of
thing we can continue to do.
The Bahamas is just poised for
these opportunities.”

The Bacardi store’s opening
will create five new jobs for
Bahamian employees, and they
have been provided with tech-
nical advice and training by the
spirits brand itself.

The Bahamas has very few
concept stores of its own, Mr
Bacardi saying he could only
think of the Hard Rock Café
and Harley Davidson. Adding
that he did not think concept
stores had ever been featured
in the drinks industry before,
the Bristol Group president said
there were “possibilities” to set-

up other such stores in Nassau °

and other islands.

“T haven’t thought about that
too much,” he told Tribune
Business. “I think we’re going
to have to walk before we run
and make sure this investment
[on Bay Street] works out, but
yes, there are other possibilities
in the Bahamas. where this.









Rect A DA ASION AAS VRE ar eo i =
mace eee nen hl en

ce a
NA



and reports.
























could be done.”

John Esposito, Bacardi’s
president and chief executive
for the North American region,
said: “With this truly unique
retail destination, we create a
visitor experience that capital-
izes on the rich history, heritage
and passion of the Bacardi spir-
its portfolio — for both our visi-
tors and for those who call Nas-
sau,home.”

Given that at least 40 per cent
of total tourist arrivals to the
Bahamas came in via Nassau’s
cruise port-of-entry on Prince
George’s Wharf, Mr. Bacardi
said it was vital that this nation
provided them with “the right
product” that kept the cruise
ships coming back, in the face of
increasing competition from
other Caribbean ports of call.

With its bright red facade,
signs and Bacardi branding, Mr
Bacardi said he hoped the store
would become “almost a draw-
ing product” to encourage
cruise passengers to turn left
upon exiting Prince George’s
Wharf and visit the ‘gateway’
to Bay Street east of East
Street. '

He acknowledged that most
persons naturally turned right
upon exiting a destination, and
in Nassau the major retail
stores, Straw Market and
British Colonial Hilton all lay
in that direction. .

Mr Bacardi said the major
unknown was how many
tourists and Bahamas residents
the Bacardi store would attract,

‘and added that the business

would have to be “adjusted
based on customer feedback”.

Speaking ahead of a week-
long series of events that starts
today, and culminates in the
Bacardi store’s grand opening

MUS. Pecan re EE ERA *

Nassau Airport

Development Company

The Nassau Airport Development Company (NAD) is looking for a highly creative
individual to become a part of our Marketing Team.

Familiarity with graphic design would be a definite asset.

if you are interested in joining our dynamic team,

on Thursday, Mr Bacardi said
the store’s creation was sparked
some 18 months ago when Mr
Cates, owner of both the prop-
erty and its previous tenant,
Tower Jewellers, approached
him to see if he was interested
in acquiring it.

Mr Bacardi had previously
been interested in the property,
on the corner of Bay and East
Streets, some five years ago. He
initially thought Bay Street
already had enough liquor
stores, but an idea began to
form. a1" 3

“We needed such a unique
concept in our industry, to try
and promote our industry, but
with a different concept and in a
different way,” Mr Bacardi said.
Since his company was already
its Nassau-based distributor, the
Bristol Group president saw
Bacardi as the ideal brand to
partner with in the creation of a
concept store, where the entire
range of the spirits brand’s
products was on display as a

promotional way to educate the -

consumer.

Bacardi brands, including
Grey Goose vodka, Bombay
Sapphire gin, Dewar’s Scotchy
whiskey and Cazadoes tequila
will all be stocked at the new

store, which will see products

at duty-free prices. Also on sale
will be Bacardi-branded hats,
shirts, gym bags, towels and
umbrellas.

“They gave me the green
light,” Mr Bacardi said of his
brand partner. “They said:
‘Juan, we live the idea, it’s a
fantastic idea.”

After acquiring the property,
it took the Bristol Group “close
to a year” to properly fit it out,
with work having begun in
earnest last August.

Reporting to the V.P Marketing, the Communications Manager is responsible for
overseeing the development and maintenance of communication and marketing
materials. Within the company, the Manager will maintain the day to day
communication functions for NAD staff including production of .the company’s
newsletter, and web-site maintenance and updates as well as the development
of collateral and promotional items. The ideal candidate uses creative abilities to
develop concepts while working along with the marketing analyst on presentations

Externally, the candidate will work with a public relations firm on print, radio and
television advertising.

The Manager will have a degree in Marketing or Public Relations with at least 3
years related experience in a similar position and be proficient with Microsoft
Office software including Excel, Word and Power Point. Strong communication,
interpersonal, written, and presentation skills are a must.

The position offers competitive compensation and benefits with opportunities for career
growth and development.

please submit your resume by August 08, 2008 to:

Manager, People

Nassau Airport Development Co.

- Only those applicants short listed will be contacted.

PO Box AP59229
Nassau, Bahamas





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Nassau Airport Development Company is looking for a dynamic and energetic Self-
starter to take the lead in conceiving and implementing innovative programs for the
employees of NAD. The Supervisor will play a key role in envisioning and imagining
new ways for NAD employees to work together. The successful candidate will enjoy
freedom to develop leading edge programs and provide support in the management
of human resource functions such as recruitment, employee communications and .
staff events. ms tr efte












You are a creative and organized individual with excellent written and oral communication
skills and have enjoyed an employment history of increasing responsibilities in a
Human Resources environment, including staff supervision.







The ideal candidate will be able to multi-task in a fast paced environment, take initiative
and exercise sound judgment when handling confidential and sensitive issues and will
have at least 3 years related experience. A degree in Human Resources Management
or Business Administration would be a definite asset.

The position offers competitive compensation and benefits with opportunities for career growth
and development.



Seas eee RUE RNCE TAA

w

_ {f you are interested in joining our dynamic team,
please submit your resume by August 08, 2008 to:

. Manager,People
Nassau Airport Development Co.
-. POBox AP59229
Nassau, Bahamas

Only those applicants short listed will be contacted.


PAGE 6B, MONDAY, JULY 28, 2008

THE TRIBUNE



|

|



‘Not enough good ideas’ to justify rise
in venture capital fund’s $1m budget

ial Venture Fund was due to
stage Town Meetings “in one
or two months’ time” to try and
attract more interest in its

FROM page 1B

The Bahamas Entrepreneur-

CTORS HOSPITAL

Health For Life

Dilslahatcia

Responsibilities:
Provides nutrition care for af! age groups including nutrition assessment, nutrition care planning and
implementation, monitoring, and nuttition education including food and drug interaction education.

Works is colladeration with other health care professionals to support, restore, and maintain octimal
nutrition health for those individuals with potential or known afterations in nutrition status.

Contridutes to community heaith initiatives such 3s providing lectures and articies for the generat public
and media,

Provides education and training of hospitalized patients, outpatients, caregivers and hea'th care personnel
including medica: professionals concerning theories, principles and practices of nutrition care.

Provides medical nutrition therapy for outpatients and for the generai puts.
Participates in the development of hospital poticies and procedures

Requirements:
Minimum Bachelor of Science degree in Nutrition by accredited US, Canadian or equivalent institution
Masters degree prefered”
Adaitional certifications a plus {e.¢. Nutrition Support, Diabetes Educator)
1—3 years previous clinkaf nuciticn experience
Registered and licensed by the Bahamas Health Professions Council
Eucetlent communication & Presentation skills
Strong Computer skills
Salary (Commensusate with experience)

Please submit resume to: Human Resources Department
Doctors Hospital | PO. Box N-3018 | Nassau, Bahamas
or call 302-4618 | Website: www.doctorshosp.com

Royal Island (Bahamas) Limited

INVITATION FOR EMPLOYMENT

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

ADMINISTRATIVE
ASSISTANT

This position will support the Construction

Management team with all administrative needs

of the office. Some of the tasks include but are
- not limited to:

Answering telephones

Copying and scanning

Laying out presentations
Organizing Documents

Document Imaging

Taking Meeting Minutes
Miscellaneous requests as they arise

In addition, he or she will assist in the processing
of accounts payable, arrange travel and the
relocation of employees.

The successful candidate must be a team player
with excellent communication skills and will be
required to live and work at North Eleuthera.

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.



financing mechanisms from
budding Bahamian entrepre-
neurs, Mr Gomez telling this
newspaper that the intent
behind its creation had been
“good”.

He estimated that the 46
start-ups and entrepreneurs that
had received financing, either
debt or equity, to date had cre-
ated between 100-110 total jobs.

Some enterprises that had
received funding had been sole
entrepreneurs or proprietors,
and Mr Gomez said those
backed by the fund were “gen-
erally doing well, and really
benefiting the economy. They
have people employed, are pay-
ing taxes and are all filling nich-
es in the market”.

The Bahamas Entrepreneur-
ial Venture Fund’s first audit,
performed by Deloitte &
Touche (Bahamas) for the peri-
od May 18, 2005, to April 30,
2006, provided broken down
details on some 20 companies
it had provided financing to.

The audit, a copy of which
has been obtained by Tribune
Business, showed that out of 13
companies that received debt
financing from the Bahamas
Entrepreneurial Venture Fund,
some 62 per cent or eight of
these had seen the auditors
either impair or totally write-
off the value of the loans.

And when it came to the sev-

a
NAD

Nassau Airport

Development Company

Expre )

en start-ups in which the
Bahamas Entrepreneurial Ven-
ture Fund had taken equity
positions, the Deloitte &
Touche auditors had either writ-
ten down or fully impaired
stakes in four of them.

The audit totally wrote-off
the Bahamas Entrepreneurial
Venture Fund’s 30 per cent
stake in IK & L Security Com-
pany, valued at $50,250; and did
the same for its 20 per cent
stake in Ekomers.com, valued
at $52,000; and 80 per cent share
in the Illiya Group, valued at
$100,000.

The 51 per cent equity stake
held by the fund in Gadites
Maritime had been partially
impaired, the auditors reducing
it in value from $100,000 to
$68,200, a $31,800 decline. In
total, out of gross equity invest-
ments worth $602,250, the
Bahamas Entrepreneurial Ven-

‘ture Fund saw these written

down by a $34,050 provision,
dropping their total value by 39
per cent to $368,200.

On the debt side, out of
$477,383 in loans issued by the
Bahamas Entrepreneurial Ven-
ture Fund in the 12 months to
April 2006, some $283,606 — or
59 per cent — had been impaired
by the Deloitte & Touche audi-
tors.

The five companies whose
loans were not impaired were

On

The Nassau Airport Development Company (NAD) is pleased to announce
the first of many requests for expressions of interest in the Lynden Pindling
International Airport Expansion Project. NAD is presently seeking expressions
of interest for the supply of landscaping material related to the Lynden Pindling
International Airport Expansion Project. Installation may be tendered separately
at a later date to coincide with landscaping milestones.

Interested parties are requested to provide the following information with

submissions:

Corporate Background ~ how long have you been in business, focation,
size, types of materials that can be supplied, etc.

Financial Capacity - bank, account manager, financial statements

Project History — previous projects or clients, size, and value

Contact List - list of previous clients with contact information

Please reply to: Mr. Derek Thielmann, Construction Manager
Nassau Airport Development Company
Lynden Pindling International Airport
Nassau, Bahamas, PO Box AP 59229
derek.thielmann@nas.bs



Fresh Auto Centre, Profession-
al Storage, The Nassau Stadi-
um/Charlie’s Place, Melherb’s
Jewellers and Outreach Sales
and Marketing Management.

Three businesses saw their
loans fully provided for —
National Furniture, Wildav
Enterprises and Blueprint City
Company Ltd.

While the relatively high lev-
el of impairments, doubtful
debts and writedowns may
alarm the uninitiated, these fig-
ures are perfectly normal in the
venture capital world. Often,
venture capital financiers expect
between seven and nine of
every 10 businesses they finance
to fail, it being a high risk/high
reward profession.

Mr Gomez told Tribune Busi-
ness he could not provide an
update on the 2006 audit, which
was signed off by Deloitte &
Touche (Bahamas) on Septem-
ber 18, 2007, as the current

_audit was ongoing.

He had yet to discuss with the
auditors concerns they may
have about any of the
debt/equity investments,
whether any had to be provided
for in the Bahamas Entrepre-
neurial Venture Fund’s finan-
cial statements, and the sums
involved.

Mr Gomez, meanwhile, said
those entrepreneurs and start-
ups who did well had harboured
their business. ideas for a'long
time, trained and worked hard,
explored their ideas and “done
substantial preparation and
research”.

“Unfortunately, what we

' often have in the Bahamas is

someone who wakes up the
next,day and says they want to
get into business without doing
the training, preparation and
research,” Mr Gomez said.
“They’re lacking any sort of
business training.”
' Often, budding entrepreneurs
failed to take advantage of the
small business seminars that
were staged from “time to
time”. wes

Mr Gomez called ‘for the cre-

ation of a Centre for Small
Business Training to help pre-
pare Bahamian entrepreneurs.
Those who attended and com-
pleted a year-long course would
receive “a sort of diploma”, and
during the training would still
have time to research and
develop their own ideas.

“We need to look at niches,
services to support big busi-
ness,” Mr Gomez said, giving
debt collection agencies as an
example, given that many larg-
er companies were now out-
sourcing this work.

“Look at what activities
they’re doing that could be out-
sourced. What can I ask my
employer that I can do for him
when I leave his business?”

He added that the Bahamas
Entrepreneurial Venture Fund
was interested in supporting
more Family Island-based start-
ups.

“We have two existing busi-
nesses in Grand Bahama, one in
Bimini, one in Andros and
we’re looking at one possibility
in Abaco at the moment,” Mr
Gomez said. “Our intention
would be to visit those islands
and hold town meetings before
the end of the third quarter.”

To date, the Bahamas Entre-
preneurial Venture Fund has
financed 10 start-ups by taking
an equity stake in them, the
remaining 36 having received
debt financing in the form of
loans.

Out of the $3.1 million it has
invested in Bahamian entre-
preneurs and their dreams to
date, the Bahamas Entrepre-
neurial Venture Fund has allo-
cated about $1 million in equity
and the rest in debt. To date,
the fund has received $4 mil-
lion from the-Government, and
has been allocated another $1
million in the 2008-2009 Bud-
get.

Currently, the Bahamas
Entrepreneurial Venture Fund
is limited to a maximum
$100,000 loan to’any one appli-
cant, anda $200,000 maximum
equity stake.

A premier financial firm like UBS runs on exceptional talent like yours. We seek out uniquely gifted individuals who can bring

something different to our organization and offer them superb career opportunities to match their potential.

UBS Wealth Management is looking to expand its team of Senior Client Advisors /Relationship Managers into the UBS (Baharnas)

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Have you been working with high net worth dients over the last 5 years of your career?

We seek candidates preferably with relevant previous work experience and who can demonstrate outstanding past perforrnance and

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To apply for this fulltime position, please send your resurne and cover letter to: hrbahamas@ubs.com

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UBS 001. Ine kay smpol and UBS are regktared ard unegktarccd traderark: OTUES. 44 rete reserved. In the Us, carunies uncerveriting tractng anc brokerage actuities, and ih 8 A atuxcry anhdties are proided by URS
Seamites LT a registered krckardealertha & awtiolk onned subs ctary of UBS AG, a rember of the New Yort Stock Exchange and other princble axchanges, anca mamizerot IPC. UBS (Bah anad Ltd. Ba subd dary ot UBSAG



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THE TRIBUNE

MONDAY, JULY 28, 2008, PAGE 7B





PM: Freeport duty rates paid ‘on
submission, not time of sale’

FROM page 1B

when GBPA licensees submit-
ted the duties, not when they
were collected.

Noting that GBPA licensees
practicing the post-paid collec-
tion of customs duties on over-
the-counter bonded goods sales
were supposed to remit these
sums to Customs by the 15th of
the following month, Mr Ingra-
ham said they “pay duty rates
applicable at that time, not at
the time of sale”.

This effectively ‘means that
GBPA licensees who submit-
ted their post-paid June collec-
tions after July 1, when the new
tax rates introduced by the
2008-2009 Budget took effect,
will end up paying the new
rates. This is despite the fact
that their June post-paid col-
lections were levied at the old
rates, which in many cases may
have been less than the new
ones, forcing some to poten-
tially make-up the difference
out of their own pockets.

The Prime Minister acknowl-
edged that this may have caused
disquiet, but it was “the way the
system works”. He pointed out
that persons often “make no
noise” when they benefit from
an action of government, and
he was not aware of any GBPA
licensee racing to give cus-
tomers a refund on items where
the duty rates had been
reduced.

Responding to the Prime
Minister’s comments, Christo-
pher Lowe, a former Grand
Bahama Chamber of Com-
merce president, said: “Irre-
spective of what the Prime Min-
ister may think, he will have

legal issues with that, because

we cannot have a man obeying
the law today, but in breach of

the law tomorrow, for what he’

did today under the law.
“At some point, the courts

are going to have to recognise
over-the-counter bonded goods
licensees as extensions of gov-
ernment. Are we not collecting
revenue on the sale of bonded
goods in a duty paid state?

“We are collecting under the
law of the day of the transac-
tion. How can we be liable for
more duty than has been col-
lected?”

The former Chamber presi-
dent said he “understood” that
the Customs Department was
now drawing up a list of all
GBPA licensees who had not
submitted their post-paid col-
lections for June 2008 by July
15, and those who had missed
the deadline would struggle to
have new imported shipments
cleared.

Mr Lowe added that the con-
fusion caused by the Budget tax
regime changes had meant it
now took “up to three weeks

to get our trailers cleared” by
Customs, although there was
speculation that a new shift
regime at the department, and
the phasing out of overtime,
may also be a factor.

The Kelly’s (Freeport) oper-
ations manager said: “There’s
a lot of lost sales going on,
because we can’t re-supply effi-
ciently. The slackness and inef-
ficiency that we have no choice
but to put up with hurts the
local economy, but also hurts
the Budget revenue. We would
have thought the Government
would try and make it more
efficient if only for its own
sake.”

The Kelly’s (Freeport) oper-
ations manager had previously
estimated that the overall
impact from the Budget tax
changes, which saw many tax
rates ‘rounded up’ — for exam-
ple, from 42 per cent to 45 per

Legal Notice

| NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

CONE MANAGEMENT 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), CONE MANAGEMENT LIMITED has been dis-
solved and struck off the Register according to the Certificate
of Dissolution issued by the Registrar General on the 7th day

of July, 2008.

Justine Mary Wilkinson
1st Floor, 17 Bond Street
St. Helier, Jersey
Channel Islands, JE2 3NP
Liquidator



THE BAHAMAS SUPPORT PROGRAM FOR TRANSFORMING

The Government of The Bahamas

EDUCATION AND TRAINING

. BH-L1003

(GOB) has secured a loan of USS$18 millil

American Development Bank (IDB) as partialBdhamasgStipporheProgram for
Transforming Education & Training tHBETEDtal cost of which is US$22.5
The project will support the develommenataod dinpdetivities aimed at i
the quality of education throughout the Bahamas.

One critical aspect odmths Poodnild capac iter smmmnginvolved in teaching

supervising students witmesdsecithrougheutentire system,

primary level age groups.

with emphasis

The Bahamas: Ministry of Educatiereekimgnothe services of a suitably
consultant to improve the overall diapaiciichy /fsttdne to deliver efficient
_the special needs populaficallypeca providebwebiici¢ysupport for curric

adaptation,

enhancedonastpicategies,

strernpihlenamd cshassroom manageme

and develop monitoring and evaluatipmasyatemsraidtive to an inclusive 4
‘

setting.

The expected duration of this cangip tanc}sGmdim-condaysttwebe delivered
over a 24 month period.

Individuals with a Masters Degree emidlightiaitidtp with specialization i
education practices and with trainmgirmnduexpartum development should
Candidates should demonstrate leadesdiyn9 delithery uati@vadf training

Special Education in hkép@akimg Caribbean.

Shortlisted candidates may be req@rimatditetitermiview before final seled

Kindl

submit resumes of notnmdr

including references

cent — would be to increase duty
rates and prices on general mer-

chandise by a 20 per cent aver-

age.

“In effect, Kelly’s is going to
collect a 40 per cent average
rate for Customs, compared
with an average 30 per cent rate
in the past. That’s generally a
tule,” he said. Customs collect-
ed on average $100 million in
duties from Freeport per
annum, with some 40 per cent
of that thought to be generated
by post-paid sales, figures that
give an indication of what is at
stake for both the Government
finances and GBPA licensees.

Apart from the ‘retroactive’
duty issue, further difficulties
have been caused by the fact





















New Providence
1. Vacant lot #1038
(6,000sq. ft.}-Garden

3. Lot #4B, Bik #1
(50°x100’) with two
storey 4 units building
west of Family St off
Solider Rd (Appraised
Value $238,000.00)

4, — Vacant lot #147
(10,557sq. ft.)-
Munnings Dr & Roy
West Lane Southern
Heights (Appraised
Value $90,000.00)

5. Lots #3 & #4
(50°x100°), Bik #47
w/duplex & shop

_(4,5328q. fi.}-Forbes St
Nassau Village
(Appraised Value
$120,000.00)

6. Lots #29 & #30,
(50°x100’), BIk #47
w/building (1,140sq.
ft.}-Matthew St, Nassau
Village (Appraised
Value $86,820.00)

7. Lots #5 & #6
(150’x 100°) w/hse-
Silver Palm Ln Imperial
Park (Appraised Value
$313,650.00)

Andros

8: Lot #119 (22, 500sq.
ft.) w/complex (3,440sq.
ft.)-Sir Henry Morgan
Dr Andros Beach
Colony Sub Nicholls’s
Town Andros
(Appraised Value
$322,900.00)

9. Beach front lot
(9,000sq. ft.)
w/building (2;100sq.
ft.) ~ Pinders Mangrove
Cay Andros
(Appraised Value
$200,000.00)

10. Property (4,344sq. ft.)
w/duplex (1.174sq. ft.)-
Fresh Creek Central
Andros (Appraised
Value $96,640.00)

11. Vacant property
150’x150° in the

settlement of
Pinders, Mangrove
Cay South Andros
(Appraised Value
$15,000.00)
Grand Bahama
12. Vacant Lot #8 Bik #12
Unit #3 (11,250sq.




















that the Customs Department
had changed the tariff rates and
headings in its computer system
to reflect the 2008-2009 Budget
changes before the old fiscal
year had been completed.

Now, Customs was unable to
reconcile the rates and tariff
headings in post-paid duty sub-
missions sent in this month for
May and June 2008 because it
had wiped these from its com-
puter system.

Freeport, through the Hawks-
bill Creek Agreement and with
the support of numerous
Supreme Court rulings against
Bahamas Customs, works dif-
férently from ail other parts of
the Bahamas when it comes to
tax collection.

~| BAHAMAS DEVELOPMENT BANK
Cable Beach, West Bay Street,
. P.O.Box N-3034
Nassau, Bahamas
Tel:(242) 327-5780/327-5793-6
Fax:(242) 327-5047, 327-1258
~ www.bahamasdevelopmentbank.com

PROPERTIES
Hills #3. (Appraised
Value $35,000.00)

Lot #338 (60°x97.24")
w/hse (1,735sq. ft.)

R.}-Henny Ave Derby
Sub Grand Bahama
(Appraised Value
$131,700.00)

13. Vacant 11,250sq. ft. lot
#19, Blk #22, Unit 5—
Lincoln Green Sub
Grand Bahama
(Appraised Value
$30,000.00)

14. Lot #15, Blk #15 Unit
#3 (90°x125’)—Derby
Sub Grand Bahama

‘(Appraised Value
$23,000.00)

| 15. Vacanttot.#25, Blk 2.
© #15, (17/8665q. fe

“Cutwater Ln Shannon >”
Country Club Sub
Grand Bahama
(Appraised Value
$38,000.00)

16. Vacant lot #110
Section #1 (12,500sq.
fi.}-Bonefish St &
Polaris Dr, Carvel
Beach Grand Bahama
(Appraised Value
$40,000.00)

17. Lot #59 (17,276sq. ft.)
Section #1 with an
incomplete fourplex—
Amberjack St &
Polaris Dr Carvel -
Beach Grand Bahama
(Appraised Value
$74,970.00)

18. Lot #2 (20,000sq. ft.)
w/building complex &
coin Laundromat—
Queens Highway
Holmes Rock
Commonage Grand
Bahama (Appraised
Value $178,600.00)

19, Vacant lot #5, Bik #31,
Section B-Royal
Bahamian Estate Sub
Grand
Bahama(Appraised
Value $31,000.00)

Abaco
_ 20. Lot #54 E (6,500sq.
ft.) W/triplex
foundation (2,788sq.

_ ft.)}-Murphy Town
Abaco (Appraised
Value $24,896.00)

21. Lot #6 Vacant 2 acres--
Fox Town Abaco

Ww



ASSETS






Freeport-based wholesalers
and retailers are able to sell
bonded goods, meaning that no
import or stamp duties have
been paid on them at the bor-
der, to other GBPA licensees
provided the goods are for use
in their own business.

Yet they also collect ‘post
paid’ duties — taxes paid after
the products are sold — if the
goods and materials are pur-
chased by Freeport residents
and individuals for use in their
homes.

In this case, Freeport’s mer-
chants calculate the duty due to
the Government ‘post import’
on its landed cost,.and remit the
correct amount to Customs by
the 15th of each month. ,

Arawak Ave Pyfrom’s
Addition (Appraised
Value $132,000.00)

_ (Appraised Value
$50,000.00)

2. Lot #51 (15,000sq. ft.)
w/building—Murphy
Town Abaco
(Appraised Value
$102,420.00)

. Lot #55 (6,900sq. ft.)
w/building—Murphy
Town Abaco
(Appraised Value
$82,075.00)

24, Lot #45 (60’x160’)
w/building (3,900sq.
ft.)-Sandy Point Abaco

ye {Appraised Value
$485,700.00) °°

“Eleuthera ~

25. Property 31'x1t1'

w/house Lord Street in

‘the settlement of

Taprum Bay Eleuthera.

(Appraised Value

$40,000.00)

26. Portion of lot #90
w/building (2,61 1sq.
ft.)~Parliament St,
Cupids Cay Governors
Harbour Eleuthera
(Appraised Value
$55,000.00)

27. Vacant portion of lot
#7 (50°x110°)~West
James Cistern
Eleuthera (Appraised
Value $20,000.00)

Cat Island

28. Property w/twelve
(12) room motel 1.39
acres—In the settlement
of Arthur's Town Cat
Island (Appraised
Value $630,000.00)

Ingaua

29. Lot #43 (90’x100’)
w/building—Russell
St, Matthew Town
Ingaua (Appraised
Value $120,000.00)

Exuma

30. Lot #8 vacant
(10,000sq. ft.)-Moss
Town Exuma
(Appraised Value
$87,000.00)

wm
wm

nm
(eS)

































: , Vessels Vehicles
work don@lectronically or in hard co to the address below s 34° Offshore Vessel (1990) Der Berry's (1) 03 Dodge Caravan
# 29° (1983) Vessel (Lady Rece) (1) 96 Ford Explorer
ere aC eeepc * 45°(1992) Defender Vessel (Liminos) (1) 97 Dodge Stratus
Aan tas oo ae oars = ue «48° North Carolina Hull (1989) (1) 01 Hyundai H-100 Bus
ee » 52° Halters Fiber Glass Vessel (1979) MV Buddy (1) 01 Kia Bus 12 Seater
P.O. Box N 3913/4 aa s 5 : ; Momsen, rekl Plaza » 39° (1985) Defender Vessel (Future C} (1) 00 Ford Ranger Truck
wenidue Wie iane- bar nee 2 51° Defender Vessel (1981) Equility ot Cee ay ord Coaster Bus
Nassau, Bahamas » 80° Custom Steel Hull Vessel (Lady Kristy) (1) 89 Chevy Caprice Hearse
* 120° Twin Screw Steel Hull Vessel (1978) with (1) 00 Toyota Coaster Bus

Attn: John R Haughton, Project Manager
Telephone: (242) 325-4725/4748
Emai htonidbproject@yahoo.com

(2) Detroit Diesel V16-92 engine, fully loaded (1) 03 Toyota Coaster Bus
® {22° Single Screw Steel Hull (1960) MV Lisa JI, (1) 02 Kitchen Van Trailer
vessel has a new engine requiring installation. And
can be view at Bradford Marine, Grand Bahama







The public is invited to submit Sealed bids marked "Tender" to Bahamas Development Bank, P.O. Box N-
3034, Nassau, Bahamas attention Financial Controller, faxed bids will not be accepted or telephone 327-
5780 for additional information. Please note that all bids on the aforementioned properties and assets
should be received by or on August 2, 2008. The Bahamas Development Bank reserves the right to reject
any or all offers. All assets are sold as is._ ‘








PAGE 8B, MONDAY, JULY 28, 2008

THE TRIBUNE



Network technology to save BIC $2m

@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

THE Bahamas Telecommu-
nications Company (BTC) will
save over $2 million in energy

costs and system maintenance
through its decision to migrate
from its traditional network to
an IP-based infrastructure from
Sonus Networks Sonus.
Michael Kane, Sonus Net-
works’ managing director for
marketing solutions, told Tri-

PRT ES a7
ea MAAS ET RTL
RS Me RE dere a ID

Legal Notice

NOTICE
GOLANI MONUMENT LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above named
Company is in dissolution, which commenced
on the 29th day of May 2008. The Liquidator is
Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.

bune Business that the
Bahamas will benefit immense-
ly from the new system, as it is a
major advance in the conver-
gence of voice and Internet ser-
vices.

“This will give the people of
the Bahamas a world-leading
communications infrastructure.
By migrating from the tradi-
tional network to an IP-based
infrastructure from Sonus Net-
works, BTC is making an
investment in the future of the
Bahamian Commonwealth's
communications industry by
providing a network that will
enable it to maintain a lead over

future competitors and be
responsive to subscribers'
needs,” the Sonus executive
said.

Mr Kane added that BTC
was ahead of many major carri-
ers in its adoption of IP-based
telephony, and therefore was a
perfect fit for his company.

“With this deployment, BTC
is taking a leap forward, and the
Sonus solution is enabling the
company to deliver new services
to both business and home sub-
scribers on the Bahamian
Islands,” he said.

Mr Kane said that while he
couldn’t discuss the value of the

project, it will bring about a sig-
nificant reduction in the amount
of equipment needed to man-
age the growing traffic across
BTC's network, when com-
pared to its existing legacy sys-
tems.

“BTC estimates that, by
choosing Sonus technology, it
will save over a $1 million a year
in energy costs alone, and
approximately another $1 mil-
lion a year in maintenance and
upgrades,” he added.

Mr Kane said another benefit
to the system implementation
was that it also involved a dis-
aster recovery site located in

Miami, which will allow BTC
to quickly recover its commu-
nications network should a hur-
ricane cause outages in Nassau.
This would significantly reduce
downtime for customers.

Mr Kane pointed out that
there were several challenges
facing the Bahamas with regard
to its telecommunications infra-
structure. “The cost of power
is very expensive, especially in
the outer Family Islands. The
weather poses an additional
challenge because it is difficult
to maintain network resiliency
due to hurricanes and other
environmental conditions.”

Realtor chief eyes Act reform
sign-off ‘in the next month’

FROM page 1B

Local attorneys benefit, but ay
can’t local real estate practi-
tioners also become a part of
the flow of business.

“After all, the concessions

which are received by the mega:

developers are Bahamian tax-
payers’ concessions, and such
concessions should be recipro-
cated and rewarded by helping

Legal Notice

NOTICE
FAXUM SLOPES INVESTMENT INC.

(In Voluntary Liquidation)

as many local business interests,
including real estate brokers.”

Elsewhere, Mr Wong
expressed disappointment that
the construction-related duty-
free Tariff Act and Excise Act
incentives under the Family

INSIGHT

, For stories hetind news,



—_—

Islands Development Act had
not been extended to the likes
of Abaco, Exuma and
Eleuthera.

These islands were just begin-
ning to develop sustainable eco- .
nomic growth, and BREA

‘ members in those islands had

expressed concern over that.

“T also have a real concern
that with the weakening econo-
my and with so many people
now losing their jobs, there will
be few persons coming forward
to take advantage of these mea-
sures.

“So the initiatives in the Bud-
get, in and of themselves, may
not give the economy the lift
that might be expected.”

Notice is hereby given that the above named
Company is in dissolution, which commenced
on the 9th day of June 2008. The Liquidator is
Argosa Corp. Inc., P.O. Box N-7757 Nassau, .

Bahamas.

(Liquidator)



Legal Notice

NOTICE
Royal Island (Bahamas) Limited

INVITATION FOR EMPLOYMENT
Food & Beverage Manager

CROPOVER FEST LIMITED

(In Voluntary Liquidation)

ARGOSA CORP. INC.

(Liquidator) Notice is hereby given that the above named

Company is in dissolution, which commenced |
on the 29th day of May 2008. The Liquidator is
Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Bahamas.

Royal Island is an unmatched private island Resort
Development located 6 miles off North Eleuthera. The
432-acre island resort will feature a 90 room boutique
hotel & spa operated by the renowned Montage Hotel
Group and a Jack Nicklaus golf one scheduled to

Legal Notice
open late 2010.

NOTICE
CORPORATION STELLA INC.

(In Voluntary Liquidation)

We are currently seeking a highly skilled and dedicated
Food & Beverage Manager to assist in managing our
luxury Preview Village located on the island, and to
be involved in the initial set up of the Montage Hotel
food & beverage facilities.

ARGOSA CORP. INC.
Notice is hereby given that the above named (Liquidator)
Company is in dissolution, which commenced
on the 17th day of July 2008. The Liquidator is

Argosa Corp. Inc., P.O. Box N-7757 Nassau, |
Bahamas.

An excellent remuneration package will be offered
together with relocation assistance.

Please direct enquiries or correspondence to:

Rebecca Jarkin@royalislandbahamas.com

Or post to:

Legal Notice

NOTICE
ECOLOGY VALLEY LTD.

Rebecca Larkin

Human Resources Manager
Royal Island

P.O. Box EL27072
Dunmore Town

Harbour Island,

Bahamas.

(In Voluntary Liquidation)

ARGOSA CORP. INC.

(Liquidator)
. Notice is hereby given that the above named
Company is in dissolution, which commenced
on the 19th day of June 2008.. The Liquidator

is Argosa Corp. Inc., P. O. Box N-7757 Nassau,
FG CAPITAL MARKETS

BROKEBAGE & ADVISORY SERVICES

Bahamas.

Eo

crFA LL”



ROYAL @FIDELITY

ee ARGOSA CORP. INC.
Bahamas Property Fund (Liquidator)
Bank of Bahamas
Benchmark

Bahamas Waste

Fidelity Bank

Cable Bahamas

Colina Holdings
Commonwealth Bank (S1)
Consolidated Water BDRs

29
o°0
ooo

Legal Notice

NOTICE

GOLDEN HARVEST
INVESTMENT INC.

(In Voluntary Liquidation)

Doctor's Hospital
Famguard

Finco

FirstCaribbean Bank
Focol (S)

Focol Class B Preference
Freeport Concrete

ICD Utilities

J. S. Johnson

sonaninere Real Petree eae

ggog29000000
660N60266

eo99999999999099000

geooo000o
oo0000

scampmariorne

S2wk-Low ‘'s imbol Last Price
14.25 Bahamas Supermarkets 14.60
6.00. Caribbean Crossings (Pref) i . 6.00
0.20 RND Holdings |

S2wk-Hi
14.60

Weekly Vol. EPS

41.00 ABDAB
14.00 Bahamas Supermarkets
0.40 RND Holdings

Notice is hereby given that the above named
Company is in dissolution, which commenced
on the 17th day of July 2008. The Liquidator is
Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Fund Name NAV
Colina Bond Fund 1.323145°°"
Colina MSI Preferred Fund 2.990639°""
1.3467 Colina Money Market Fund
3.3971 Fidelity Bahamas G & | Fund
11.6581 Fidelity Prime Income Fund
100.0000 CFAL Global Bond Fund
98.2100 CFAL Global Equity Fund
1.0000 CFAL High Grade Bond Fund
9.5611
1.0000
1.0000
1.0000

52wk-Low
1.2576
2.7399

3.6007°**
12.2702***
100.00*°*
99.956603"*

Fidelity International Investment Fund
FG Financial Preferred Income Fund
FG Financial Growth Fund
FG Financial Diversified Fund

Bahamas.

ee Market Terms z
xX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 iv’
S2wk-Hi - Highest closing price in last 52 weeks Bid S - Buying price of Colina and Fidelity
S2wk-Low - Lowest closing price in last 52 weeks Ask $ - Selling price of Colina and fidelity
Previous Close - Previous day's weighted price for daily volume Last Price - Last traded over-the-counter price
Todays Close - Current day's weighted price for daily volume Weekty Vol. - Trading volume of the prior wook
da EPS $ - A company’s reported earnings per share for the last 12 mths
NAV - Net Asset Vatue
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100



* 31 March 2008
** - 31 December 2007
** ~ 30 June 2008
** 31 Apr 2008
- 31 May 2008
- 27 June 2008



sing price

ARGOSA CORP. INC.
(Liquidator)

for-1 Stock Split - Effective Date 7/11/2007 .
6 TRADE CALL: CFAL 242-602-7010 FIDELITY 242-556-7785 ¢


THE TRIBUNE



Re: LNG article by
Alan Jackson

Aaron Samson, managing
director (LNG), AES
Corporation, offers the
following statement in
reply to an article
appearing in INSIGHT:

nder the headline
“Teacher Responds
to Financial Expert

on Liquefied Natural Gas:
LNG: ‘potential losses”, The
Tribune published an article
written by a teacher called Alan
Jackson (July 14, 2008), who

offered his remarks in opposi- -

tion to an earlier article writ-
ten by financier Richard Coul-
son supporting the establish-
ment of the LNG facility pro-
posed by AES Corporation for
Ocean Cay in The Bahamas.

Mr Jackson’s commentary is |

filled with a number of factual
inaccuracies drawn from inac-
curate statements made about
six-year-old data.

Such misleading information
does a disservice to Bahamians
who seek reliable information
on which to base their decisions
regarding the AES LNG pro-
posal and should be corrected.
It remains difficult for me to
believe that a schoolteacher
made so many errors.

It is amazing, but it appears
that Mr Jackson did not make
use of one: of the most up-to-
date sources on LNG import
terminals and storage facilities,
especially those in the United
States. A quick check of the
Federal Energy Regulation
Commission’s website
(http://www.ferc.gov/) would
have cleared up many of Mr
Jackson’s misconceptions, and
he would thereby have avoided
misleading readers of his article.

Contrary to what Mr Jackson
implies, the LNG industry is a
dynamic industry worldwide
and certainly in the United
States, because LNG, as one of
the? safer, cleaner alternatives
to gil>will ‘continte to playa

tainable energy future.

Following are facts that clear-
ly contradict what appear to be
Jackson’s main points against
the establishment of an LNG
terminal.

Table 1 in the Jackson
Article

Jackson: “You ‘will notice in
table one a listing of all the
existing import LNG terminals
in the lower 48 States. It gives
their current and planned stor-
age capacity in billions of cubic
feet of gas (BCF). Realise that
since this came out, most expan-
sions envisioned like that at
Everett have not happened, due
to local objections.”

Facts: This could not be fur-
ther from the truth as the easily
documented facts are that all
expansions listed in the Table 1
to which Mr Jackson refers
were approved and are now in
operation. Additionally, two of

@

for ad rates



cise Wy
Aaron Samson



the facilities listed have been
approved for ‘a second expan-
sion. ‘

Jackson’s Table 2

Jackson: “But what about -

those other proposals in table
two? Not one of them has been
approved,”

Facts: The facts regarding
LNG facilities approved by
FERC are again completely
contrary to the schoolteacher’s
claims. Eight of the proposed
terminals from Mr Jackson’s
Table Two ‘have been
approved. Four of them now in
operation and three of them are
under construction.

In addition to those facilities
already under construction or
in operations, the US, Mexico
and Canada have approved a
total of 24 new LNG import ter-
minals. .

Storage Capacity of Proposed
Ocean Cay’Terminal ~

majortolefatihgovorld’y susagy, Jackson: “With a storage

capacity of 3.5 BCF and the
proposed storage capacity of
200 BCF, Boston is not good
target material...Are terrorists
interested in the 70 or 80 LNG
plants operating around the
world? How about a facility
that’s 40 times larger than the
Everett tanks in Mass. Now that
would be a juicy target!”

Facts: Now we need to review

the most egregious misrepre- -

sentation made by the school-
teacher. Jackson is confusing
storage capacity with through-
put.

The 3.5 bef he notes for
Everett, Boston is accurate, but
the plans for the facility at
Ocean Cay call only for 7.5 bef
of storage. capacity and not the
extreme 200 bcf Jackson quotes.
This means that Ocean Cay
would have double the capacity
of the Everett facility and would
not be 40 times bigger in stor-
age, as Jackson has claimed.

Additionally, the proposed

AES terminal would be sub-
stantially smaller than six of the
eight operating US terminals
and not eight times larger than
the entire US LNG import
capacity as reported by Jack-
son. The proposed AES termi-
nal will not be the super-sized
terminal supplying the Ameri-
can east coast as suggested by
Jackson, but would be a rela-
tively small terminal by US
standards, supplying 25 per cent
of Florida’s gas demands and
displacing most of BEC’s New
Providence diesel demands.

Furthermore, Jackson has
represented objections to the
Boston facility as a major point
in support of his argument, but
he is unfortunately comparing
snappers to groupers.

The Boston facility is sited in
close proximity to a large pop-
ulation, where LNG ships
entering Boston Harbour pass
within 500 feet of waterfront
hotels.

On the other hand, the pro-
posed Ocean Cay facility would
lie nine miles from the nearest
population centre. In striving

for a truer picture, it is impor- °

tant to compare like situations.

Schoolteacher — Sad Failure
to Do Homework

If you take away all of the
erroneous and easily debunked
figures and other information
in Jackson’s article, the meat of
his argument falls through and
leaves behind a mixed bag of
unrelated ideas.

Especially confusing is the
reference to terrorist activity in
Bali, which was not related to
LNG and had a lot of history
that Jackson did not relate. As
the FERC website notes, there
are approximately 40 LNG
import terminals worldwide
with many more under con-
struction or planned.

LNG import terminals exist
in Japan, South Korea, Cana-
da, Mexico and Europe, as well

MONDAY, JULY 28, 2008, PAGE 9B

THE DEPARTMENT OF STATISTICS
AVERAGE QUARTERLY PRICES FOR SELECTED ITEMS; NEW PROVIDENCE:

SELECTED QUARTERS 2006 — 2008
$B
2008
2nd

2006
2nd
quarter quarter

5 Ibs 3.05 3.56 -

2007
2nd -
quarter

Sweet pepper 2.10

Tomatoes
Limes\lemons
Onions

Rice

Canned milk
Butter



fe

Canned tuna
Stew beef
Air conditioner



HIGHLIGHTS

The price of butter has constantly been on the rise. During the second quarter of
2008, the average cost for a 4 Ib of butter increased by 72% when compared to the
second quarter of 2006. :

H ; |
) Between the second quarter of 2006 and 2007, the price of canned milk increased by
¢ 3%, however, between the second quarter of 2007 and 2008 the increase in cost

~ escalated by 28%.

/ The cost of rice has been on the constant increase. During the second quarter of
2007 the price increased by 2.3% from 2006. Between the second quarter of 2007 and
2008, a further increase of 14% occurred.



: has. eight LNG. import. termi,....,.
nals, one export terminal in

‘tial to yield significant benefits

20 ETT EEA ETT REM, MTL RNY RIEL AI



ye

as in the United States. The US "visit the Department Of Statistics on the world wide web@ statistics. bahamas. gov. bs

Alaska and a great many LNG
storage facilities throughout the
country.

The bottom line is, the US
and the rest of the world are
accepting and building LNG
terminals when located at safe
and secure sites such as the one
proposed by AES at Ocean
Cay.

The Bahamian public can rest
assured that the facility pro-
posed for Ocean Cay has had
the benefit of extensive plan-
ning and environmental impact nal
assessment and has the poten- {IK Br |
for The Bahamas and its peo-
ple.

esign






















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PAGE i0B, MONDAY, JULY 28, 2008

last crucial connections
with the Oakes affair...

FROM page 12B

ure added: “With Levi Gibson’s
death, there is now no chance at
all of ever learning the whole

truth about the death of Sir

Harry Oakes. He was the last
person with direct links to the
characters involved. He was
probably the one surviving per-
son who really knew the whole
story. Incredibly, over a:period
of more than 60 years, those
who were best-placed to know
what happened maintained
their silence.”

Undoubtedly, Gibson’s close-
ness to Christie, his position as
gofer-factotum, driver and con-
fidant for The Bahamas’s most
successful land salesman, would
have made him aware of much
that went on in Nassau society.

He would almost certainly
have been aware, for instance,
that.Christie and Oakes - for all
their friendship, which was deep
and genuine - were seriously at
odds over certain land dealings,
and that Oakes suspected his
protege of double dealing.

He would likely have been
aware, too, that Oakes was
preparing to leave The
Bahamas for Mexico at the time
of his death, taking his family
and his wealth with him.

And, most importantly, he
would have been aware of the
growing animus and mistrust
between them, partly because
Oakes had developed the
impression that the younger
man - an ambitious go-getter,
for all his apparent diffidence -
was seeking to build a fortune
off his back.

It’s possible, though by no
means certain, that Gibson also
knew of Oakes’ growing suspi-
cion of the family lawyer, Wal-
ter Foskett who, it later tran-

spired, had feared confronta- '

Hi
i
i

3
t

See poo

| GOVERNMENT NOTICE

"DEPARTMENT OF

,, PUBLIC SERVICE

j
fy








“During the 16 years following the murder,
no fewer than 16 people died mysteriously

in Nassau for their suspected knowledge of,

or meddling with, the disturbing details of Sir
Harry's demise. One of them was an American
woman investigator whose body was discovered
upside down in a banana hole. Another was a
former associate of Christie's who was thought
to be talking too much during confused

moments in her twilight years

tion with Sir Harry after swin-
dling him in a-deal involving
two paintings, including a Rem-
brandt.

Gibson collected Foskett
from the airport the morning
after Sir Harry’s death, the
lawyer having flown in from
Florida, where he had built up a
successful practice representing
the interests of super-rich Palm
Beach expatriates.

Given the irascible Sir Har-
ry’s threat to “straighten out”
Foskett for betraying his trust,
it’s hard to discount the lawyer’s
involvement in events leading
up to the. baronet’s death.

It’s the Oakes-Christie rela-
tionship, however, that has
always been considered central
to this intriguing affair.

Christie and Oakes had
become so close, in fact, that
observers felt they were begin-
ning to walk alike, sharing an
unfathomable affinity which
made one begin to resemble the

is iho

Other. Moreover, Christie’s ©

GN-719

a) caus

he following persons who retired from the Public
«Service between the period July 2007 and June

‘230th, 2008 are asked to contact Mrs Andrea

Deleveaux at the Department of Public Service at °

503-7305 as soon as possible:

Wesley O. Dorsette

”
eee

business, founded 11 years ear-
lier, was riding by all accounts
on money loaned by the big-
hearted Canadian.

Had Oakes moved out, The
Bahamas economy would have
been dealt a significant and pos-
sibly lethal blow, leaving the
heavily indebted Christie with
little or no foundation for his
growing realty empire.

It’s no exaggeration to say
that Nassau, at that time a
meaningless sliver of empire liv-
ing off Oakes’ largesse, would
have imploded economically
had the family decamped.

Gibson was no fool. During
days when black and white were
aeons apart socially and eco-
nomically, he rose from office
boy at H G Christie and Com-
pany to become right-hand man
to arguably one of the most
influential white figures of the
age, an international wheeler-
dealer who “sold” .The
Bahamas to foreigners as a

‘tropical refuge for the supér+

rich.

Christie trusted him ‘to the
point where Gibson was virtu-
ally an appendage, an indis-
pensable component in his
climb to global prominence as a
realtor. ,

While Christie was away on
his European and North Amer-
ican sales jaunts, trying to lure

big money to his beloved .

Bahamas, Gibson was taking
care of affairs back home, an
employee whose solicitude and
loyalty were never in doubt.

SInmCnt et as

Levi Gibson one of the

— Jobn Marquis,

For years after Oakes’ death,
the talk in Nassau was of a
group of men being seen climb-
ing the outside stairs towards
Sir Harry’s bedroom at West-
bourne on the night of his mur-
der.

It was speculated that these
men bludgeoned him brutally
before setting his body on fire in

a bid to destroy all clues in the .

process. A flash of flame was
seen before being quickly extin-
guished.

Inevitably, as suspicions grew ~

over Christie’s involvement,
various associates fell into the

‘frame as possible accomplices,

including Sir Harold’s brother
Frank, a much more abrasive
and aggressive character than
the retiring Harold, whose qual-
ities were always somewhat
understated.

As speculation ebbed and
flowed over the years, Levi Gib-
son not only maintained a quiet

@.was Governor of The Bahamas at t

composure, but steadily went
about his business, counting
many prominent Bahamians
among his friends, and acquir-
ing substantial wealth through
his company, Levi Gibson Real
Estate Ltd. |

History will be left to judge
him, therefore, on.the facts as
known rather than the rumours

that ran rife in the byways of |

Nassau, but which added colour,
and little else to the continuing
Oakes saga.

Born in Simms, Long Island,
on April 5, 1914, he left school
at 14 - a poor boy, by his own
description, who rose to mix
with the highest in the land.

Among those he befriended
were the Duke of Windsor,
Governor of The Bahamas at
the time of the Oakes affair,
and A F Adderley, junior pros-
ecutor in the trial of Count
Alfred de Marigny.

He was also close to both Sir

THE TRIBUNE



LUT

Roland Symonette, first pre-
mier of The Bahamas, and Sir
Lynden Pindling, the first prime
minister. Though of humble

’ birth, and modest means in his

early days, Gibson spent much
of his life as a respected pillar of
local society.

After spending 43 years with
Sir Harold Christie, he left to’
launch his own trucking firm
and then, in 1967, the realestate
company of which he was pres-
ident.

Only two years ago, fellow
members of the Kiwanis Club
honoured him for his drive and
leadership in the movement’s
early years in this country.

In 1993, Gibson told an inter-
viewer: “I am a firm believer
that no good is ever wasted,
particularly if you do it from
the heart.”

When he died at Doctors
Hospital last week, surrounded
by relatives’ and friends, Levi
Gibson was hailed as a solid cit-
izen who earned an honour
from the Queen and played his
part in civic life.

In sport, music, business and
good works, he came over as a
proud Bahamian with a love for
his country.

If there is one negative con-
sideration to be set against his
name, it is that he remained so
silent about an event which not
only led to the death of Sir Har-
ry Oakes, but also laid the pat-
tern for selective justice, intim-
idation and victimisation which
has so bedevilled The Bahamas
over the last six decades.

As he passed on, precious

Randolph Cecil Rolle | é
P i nowledge about recent
Mary Louise Johnson — Bahamas history died with him.
Barbara Carey Like so many others close to
Denver W. Dames Se
Ronald Frederick Thomas ee
Muriel Rolle - ° What do you think? Fax
Beverley Russell 328-2398 or e-mail
cece jmarquis@tribunemedia.net
Lagrimas Sambar .
_ Albena M. Seymour
McDonald Thomas Sawyer’ zetany a
Emeretta Sherman red ea
Rosalie Mae Stubbs aaa
Wellington King ay 5
©» Andria Elizabeth E. Archer Sars a stare F ° h °
~ §tanley Fulford iS in
“Bijan ‘Eller, Glass Bottom Water Buckets g

Philabertha L. Carter *
Sharon Farquharson

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Joan Lillian Coakley ~ Fishing Accessories anne net
ae Mesh Diving Bags on a

eon Alexander Wilson
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Jenetta Doretta Morrison iT a Reels Sseason el from people who are
shutiey labet pe SCE aa Se ntlitionds Perit
Priscilla Eloise Armbrister cacaiaite finde t :
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THE TRIBUNE

MONDAY, JULY 28, 2008, PAGE 11B



Re: Politics needs
professionals

Dear Mr Marquis,

I HAVE just read your arti-
cle of today, 7.7.08. Once again,
good work.

If you want to print this, I ask
you do not print my name as |
am frequently reminded (just
last month in my monthly
supervision meeting with my
supervisor) of the last letter that
was printed carrying my name.

Please allow me to ask:

1. Are permanent secretaries
not the “general managers” of
their respective ministries?

2. If yes, would this not
remove: the need for the
appointed ministers to have
much to do but present “policy”
to these “managers” to carry
out?

3. If the permanent secre-
taries were given full run of
their respective ministries would
the country not run better?

& If paid proper salaries and
given an executive-style job
description that is known to all
and the cabinet secretary, hav-
ing the power of administration
at this “executive level” be giv-
en the power to report quarter-
ly on their performance (includ-
ing attendance records, new
policy implemented on time,
etc) and the power to remove
poor performers?

..would there be a need to
appoint any other than the
political misi§ts to the cabinet?

_ If the system is allowed to
work the way it was created to
work, with minimal interference
at the ministerial level, we
would see the difference imme-
diately.

A case in point is the local
government elections. If

rumour is to be believed, the.

permanent secretary advised
the minister of the problems
associated with the process but
he was overruled by the minis-
ter.

Sir, I am of the view that both
parties need to be replaced by
everyday working folk who
want better for their country
and not lawyers who look after
their interest(s) and tlfat of their
fellow lawyers, even those in
the “other” political party.

This would also allow the

laws to be changed to allow-pro-

fessional persons from the com-
munity to be appointed sena-
tors and made cabinet minis-
ters (we would/should pay: these

people more than the present -

salaries, though).

I say this because I am,con-
vinced! ‘that pecnie | Ahr
social elite, lawyers, will never
do away with existing laws to
allow “other” persons to enter
the House or for them to intro-

. duce government-funded cam-

paigns for persons nominated

by 2/3 of the electorate in the
constituency freeing the way for
the store owner, schoolteacher,
mechanic, policeman, nurse etc.,
to have a chance. -

I offer these thoughts...

— Regular Reader

TODAY ’S Insight has to be
in the top ten — you are right
on target, 1etting these people
know that they should not be
where they are, never run noth-
ing in their whole lives, as you
said not even their household
successfully, now they have
become experts in telling you
what is best for you (what BS!)

What is your take on Ken —

Russell, another lost soul?
Can you address the deport-

ment of these so-called leaders

on their dress in that so-called
Honourable House, Picewell
Forbes in particular, who had
on a cream-coloured suit at a
House sitting recently. What
happened to the standard dark
wear? Do they know any bet-
ter? These are our leaders, God
help us.

I feel sorry for the PM, who is
a good friend, and what he has
to deal with, not much. Thank
God that he has the courage to
go outside and bring in profes-
sionals to help Him.

I can do all things through
Christ which strengtheneth me.

— Kelly D. Burrows

YOUR article in the Insight
section of today’s Tribune - Pol-
itics needs professionals — is a
timely and intelligently argued
piece.

— Deshon Fox

OBIE Wilchcombe talking
about Neko Grant is like the
pot calling the kettle black.
And for my money, Obie is the
worst Minister of Tourism this
country has ever had. He is the
reason Vincent Vanderpool-
Wallace left.

— Stephanie Toote

Dear John,

Because I regard you as a
“transplanted” Bahamian of the
highest order, please accept my
congratulations on the 35th
anniversary of the, Common-
wealth of The Bahamas as a so-
called “sovereign” nation.-Our
journey still lies ahead of us but
I am persuaded that we, as a



IANA A LST LNT OO

ave: ans at all fe brag te ‘

‘if repo

he
jou?
tahie?

A a of the front page of inl) nna, meena i INSIGHT...

‘united’ people, will cross over
into the fabled ‘land of milk and
honey’.

There have been many casu-
alties and I am sure that many
more will fall by the wayside.
As we evolve politically, how-
ever, and with the Rt Hon
Hubert Alexander Ingraham,
MP, PC (FNM-North Abaco)
at the helm, The Bahamas will

‘go from strength to strength.

One may not always ‘agree’
with the PM but his recent cab-
inet shuffle and realignment
were just what the doctor
ordered. for The Bahamas.
Removing Neko Grant (FNM-
Lucaya) from tourism was a
master stroke. In one year as
minister, Grant, for reasons
known only to himself, ‘refused’
to appear on-any talk show,

especially ‘REAL TALK :

LIVE?’ which I host. His sched-
ule never. permitted it, yet he
was to be seen at various func-
tions with foreign and native
‘dignitaries’ sipping a lil white
wine or whatever else that may:

have been in the glass.

Grant may have meant well
but he was out of his league at
tourism. I welcome the bold and
innovative appointment of Min-
ister Vincent Vanderpool-Wal-
lace as substantive Minister of
Tourism. He will make a. big
difference to the productivity
and efficiency at that ministry.
Congratulations Vincent (an old
classmate at GHS). A ‘techno-
crat’ is needed at this time.

The Hon Tommy Turnquest
(FNM-Mt Moriah) is not suited
for the post of Minister of
National Security. He has
absolutely no experience or
training in this vital area. In fact,
his ‘known’ persona and physi-
cal characteristics, with all due
respect, do not lend themselves
to a successful stint as Minister
of National Security.

I wonder how the Acting
Commissioner and his top brass,

such as they might be, view

Minister Turquest...like a

youngster in short pants or like ©

MONDAY —

a person whom they must defer
to?

I am‘certain that the PM
‘owes’ Turquest a spot in the
cabinet but such a sensitive and
far-reaching one? Not in my
opinion. Perhaps he should
have appointed him as Family
Island Development Minister,
while remaining Leader of Gov-
ernment Business in the House.

Whatever happened to the
Hon Kendal Wright (FNM-
Clifton)? He has yet to be
appointed to any ministry or to
a ‘real’ job within the FNM

RR

administration. Why is this the _

case? Wright is my cousin and a

talented former broadcaster. :

One would have. thought that
he would have been a natural fit
as Minister of Information and
Propaganda (for want of a bet-
ter name). Yet, so far, he
remains on the outside of the

_ cabinet looking in. Treating

Wright like this cannot be right.

I.don't like what is going on

- within the Ministry of Culture.
It seems as if culture is only
about junkanoo and not the arts
‘generally. No plans on the
board for the National Library
and Anthropological Museum?
No easy access to the Centre
for the Performing Arts after
dark? The so-called National
Art Gallery at West Street is a
joke of what it should be.
Where are the public venues
where artisans, poets and
craftspersons can practise and
display their crafts? People Like
Rudy Grant, my boy, are seem-

ingly ignored and relegated to
the back of the bus by Minister
Maynard.

Former Minister of State for
Immigration, Mrs Elma Camp-
bell Chase, is a learned lawyer
but she never, in my opinion,
got a grasp on her portfolio and
spent too much time talking
about the celebrated ‘consen-
sus’ of. illegal or other foreign
nationals in The Bahamas.
What were the results of the
much ballyhooed exercise in
futility?



SATURDAY

10 A.M. - 2 P.M.



Celebrating 3 years



The stories beh ind tie news



Minister of State for Finance,
the Hon Zhivargo Laing (FNM-
Marco City) is a good Christ-
ian brother and he means well.
I have a serious reservation,
however, with what is turning
out to be a potential ‘fiasco’
over the government’s appar-
ent insistence that we are going
to sign on to the so-called Eco-
nomic Partnership Agreement
with Europe regardless of the
stark absence of detailed infor-
mation and public debate.

This is not the way one builds
a nation. Either we are going
to have full consultation or we
are going to develop a political
system where an elitist oligarchy
‘rules’. the unwashed masses.
Why are we signing on to a ser-
vice clause when this, accord-
ing to experts like attorneys Bri-
an Moree and Paul David Moss,
is not necessary at this juncture?

What Minister Laing should
be concentrating on right now is

public sector reforms and ratio- ©

nalisation of part-time and per-
manent contracts of employ-
ment. He should also be burn-
ing the midnight oil to find ways
and means for us to reform our
taxation systems. The creation

of ‘economic zones’ within New
Providence and Grand Bahama
are also what he should be look-
ing at instead of ‘worrying’
about Bacardi, lobsters and
plastic.

The PM could have better
utilised the talents and skills of
Ministers like the Hon Branville
McCartney (FNM-Bamboo
Town) and Hon Byran Wood-
side (FNM-Pinewood).

Immigration should have
gone to Branville as a stand-
alone ministry. Woodside would
also have been a natural for the
Ministry of Youth and Sports
instead of being ‘exiled’, after a
hard fought victory in
Pinewood, to the Office of the

. Prime Minister.

I do not feel comfortable with

the Hon Minister of Foreign .

Affairs and Deputy Prime Min-
ister holding ‘sway’ over this
vital department, considering
his voluminous and extensive
business holdings and shares in
numerous public entities which
require large and massive num-
bers of ‘white’ expatriates.
Mind you, I do not suggest
or even imply that he would do

‘anything out of order but not

only must the ‘wife’ of Caesar
be ‘clean’ and above board but,
more importantly, she must
‘appear’ to be so.

Mr Symonette already has
too much to do and, in the year
since he has been in office, what
has he accomplished that we
know about?

What role will he play down
at Arawak Cay and will any of
the reputed properties owned
by he and/or his family (Symon-

ette’s Shipyard, et al) be eligible .

for ‘redevelopment’ under the
Downtown Redevelopment
Act? Will any be ‘sold’ or will
the government have right of
first refusal? .

A simple electronic padipot
cannot be accessed without a»

great wastage of time, effort and
money, despite a multi-million
dollar machine which is sup-

- posed to generate these pass-
ports. In the meantime, Minister '

Symonette plays ‘cute’ with his
public remarks and. bemoans
the fact that The Passport
Office is ‘short staffed’. Well,
blow me down!

The cabinet is still too big and
The Bahamas.can ill-afford to
be paying all of these outra-
geous salaries and ‘unknown’
perks. By now, the PM must be
poignantly aware that no matter
what the Progressive Liberal

242-461-1000 | www.babfinancial.com

Freeport 242-352-7209 Exuma 242-336-3035 Abaco 242-367-5601

Party (PLP) tries to do, judi-
cially or extra judicially, -he is
large and in charge until a major

_scandal erupts or until 2012, if

The Lord tarries.

And so, yes, we do need ‘ pro-
fessionals’ in parliament but
senior ministerial posts should
only be given to persons who
offered for elections and were,
in fact, elected. In my view, the
appointment of the Hon Vin-
cent, Vanderpool-Wallace was

. a good’ business decision.

Politically, however, the PM

has made many “enemies” with-
in the ranks of the FNM;by
‘skipping’ over and ignoring
long-time FNMs and elected
backbenchers for elevation.
Being Primus Inter Pares can-
not be an ‘asy’ job. Indeed, well
has it been written ‘Uneasy lies
the head that wears the crown’.
To God then, in all things, be
the glory! |

— Ortland H. Bodie, Jr.

I NOTE with interest your
castigation of Ministers Neko
Grant and Tommy Turnquest
and former Minister Sidney
Collie and offer no comment to
same save and. accept
your assertion that ‘Dramatic
measures are required on the
crime front if Mr Tommy Turn-
quest, the Minister of National
Security, is to be allowed to stay
in his present post.’ .

With the greatest of respect,
under the Bahamas system of
governance the Prime: Minister
has always been the de facto
Minister of National; Security
and chairman of § the
Bahamas National Security
Council. The Prime Minister
meets regularly with the heads
of the Police and Defence
Forces and gives directions ‘as
he deems appropriate. There
are no major decisions in the
RBPF and RBDF taken with-
out the Prime Minister’ s nowl-
edge ‘and-consént..’.

In light of the'foregoing, i
logically follows, applying Jobin
Marquis’s Logic, that’Mr ngra-
ham’s job indeed truly remains
incomplete and that he, Ingra-
ham, should resign forthwith.
Your. newspaper appears to
have a serious problem in
directly criticising Hubert Ingra-
ham, Mr Untouchable!’ which
appears to also apply to Brent
Symonette.""

— Regards



Bradley B E Roberts, former 4

MP and Cabinet Minister of
The Bahamas... .,.

merican

“FINANCIAL

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it :
a

MONDAY, JULY 28, 2008



PAGE 12B

The stories behind the news





Silent to the end
Levi Gibson one of the last crucial
connections with the Oakes affair

THE death of 94-year-old Levi Gibson cuts one of the very last
direct links with the Sir Harry Oakes murder mystery of 1943,
when The Bahamas became the centre of the greatest crime
riddle of the 20th century. INSIGHT explores Mr Gibson’s role
in the extraordinary events of that time and his unshakeable
defence of the prime suspect, the late Sir Harold Christie, —

who was his employer and mentor.

By JOHN MARQUIS
’ Managing Editor

evi Gibson rarely spoke
publicly of the events of
that thundery night in
July, 1943, when insular
little Nassau suddenly and
unexpectedly wiped the Second World

War itself from front pages around the °
‘globe.

He never discussed in detail the bru-
tal murder of Sir Harry Oakes, the leg-
endary Canadian gold prospector who
transformed the fortunes of this
benighted isle and harboured ambi-
tious dreams for his adopted home-
land.

On the very few occasions when he
was encouraged to speak - usually by
visiting foreign newsmen - his com-
ments were brief but firm repetitions of
his solid conviction that Sir Harold
Christie, his beloved boss, was not the
killer. However hard correspondents
tried to get him to elaborate, Mr Gib-
son remained resolutely unforthcom-
ing.

His silence was interpreted by fel-
low Bahamians in many ways, few of
which did Mr Gibson himself any cred-
it.

However, no evidence has ever been
produced to substantiate any of the
many rumours that flew around Nassau
for many years, and Christie himself
spent the last three decades of his life
under the shadow of widespread sus-
picion which was never tested by law.

Instead, Sir Harry’s son-in-law, the
Mauritian chicken farmer Cotint
Alfred de Marigny, was tried and
acquitted of his murder at the Bahamas
Supreme Court, only to be deported on
the jury’s recommendation and left to
drift from one refuge to another for
the rest of his life. :

Gibson, by contrast, went on to pros-
per mightily as a realtor in the post-war
era, as did his friend and mentor Sir
Harold, whose involvement in the
Oakes affair certainly did nothing to
halt the burgeoning of his personal for-
tune, even if it cast a blight on his char-
acter right up until his sudden death in
1973.

Together, they weathered the point-
ed conjecture, endured what Sir Harold

called the “inferential calumny” circu-’

lating in Nassau, and even withstood

the indirect accusation - made by MP_
Cyril Stevenson in the House of .

Assembly in 1959 - that Christie was

the man who killed Sir Harry Oakes. .

During the 16 years following the
murder, no fewer than 16 people died
mysteriously in Nassau for their sus-
pected knowledge of, or meddling with,
the disturbing details of Sir Harry’s
demise. One of them was an American
woman investigator whose body was
discovered upside down in a banana
hole. Another was a former associate
of Christie’s who was thought to be
talking too much during confused
moments in her twilight years.

Fear gripped the island to the point
where Stevenson felt compelled to
raise the issue on the floor of parlia-
ment - and make his sensational alle-
gations against Christie, who was sitting
nearby but said nothing in reply.

His rekindling of the embers pro-

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voked a public statement from Sir Har-

_ry’s daughter Nancy - former wife of de

Marigny - who strongly suggested that
a local conspiracy was behind her
father’s death.

And it sparked a Scotland Yard
inquiry which confirmed what all those
involved already knew - that precious

~ forensic evidence at Oakes’s mansion,

Westbourne, near Goodman’s Bay,
had been wilfully destroyed in the
hours following his death.

What we know for sure about Levi

Gibson, who worked as Christie’s dri- _

ver and general factotum at the time,
was that he left his boss’s car outside
Westbourne on the eve of Sir Harry’s
savage murder.

We also know that, according to him,
the car remained on that spot through-
out the rainy night when Sir Harry
died, thus confounding the theory that
Christie ‘drove it into town during the
dark hours, contradicting his own con-
tention that he spent the entire night
sleeping in the house.

_Gibson maintained that the ground
beneath the car remained dry despite a
heavy rainstorm, as he checked it the
following. morning. He confirmed that
Sir Harold was a deep sleeper, and his
own view was that his boss remained at
Westbourne throughout that fateful
night.

Though conjecture raged in the late.
1940s and early 1950s, always furtively rf
in low whispers, Gibson never shifted,

his position - that Christie was too mild.

a man, too gentle a character, ever to

have been involved in something so,

dreadful as the murder of his old
friend, Sir Harry.

Then, in 2005, a few months before
» publication of my book about the
Oakes case (Blood and Fire, The Duke. _

of Windsor and the Strange Murder of

Sir Harry Oakes).1 received a phone

call from a friend who made an elec-
trifying disclosure.

“Levi Gibson is talking about the
Oakes case,” he said, “you’d better
have a word with him.”

I was advised to approach a “middle
man” by the name of Burns who, I was
told, would organise a conversation
with the ageing Levi. So it proved, for

-when I phoned this person, he told me .

that Mr Gibson was sitting nearby and
handed over the receiver.

Of course, it would ‘have been too
much to ask that Gibson would make a
belated revolutionary disclosure about
the case, or that he had been encour-
aged by the grim demands of
approaching mortality to tell ali he
knew.

But what he said was interesting
enough in itself, and added a few extra



LEV! GIBSON (shown) rarely spoke publicly of the events of that thundery night in July,
1943, when insular little Nassau suddenly and unexpectedly wiped the Second World War

itself from front pages around the globe...

embellishments to a story which, 64

‘years on, continues to excite the curios-

ity of all those with a taste for intrigue
and modern Bahamas history.

True to form, Gibson continued to
protect his master, Sir Harold, and told
me unequivocally that Count Alfred
de Marigny, assisted by a Bahamian
associate and a titled friend, had killed
Sir Harry on that stormy summer night.

He said the Bahamian, whose name

he revealed, but which remains undis-
closed publicly for legal reasons, was
recruited to show the way to Sir Har-
ry’s bedroom, where the baronet’s
body was found the following morning
with head wounds and extensive burns.

At the time of the murder, Gibson
revealed, detectives had tried to press
him into implicating Sir Harold, but
he had rebuffed them. De Marigny, he
added, was the only person with a



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motive for murder - and he had
escaped the noose.

Major Pemberton, the lead investi-
gator, invited him, Gibson, to the
police station for questioning. “They
were trying to put it on Sir Harold, but
I told them to go to hell. The whole
thing was a mess-up. The police depart-
ment screwed it up,” he toldme. ~

He also blamed the Duke of Wind-
sor, Governor of The Bahamas at the
time, for “screwing up” the inquiry by
calling in two Miami detectives who
did not know what they were doing.

“You must remember,” he added,
“that Sir Harold had no reason to do it.
He was shocked to hell that morning.
There is no doubt in my mind that de
Marigny and his friend did it, no doubt
at all.”

Other Bahamians of advanced years

_ Share Levi’s conviction that the Count
‘was responsible, but the fact that police

were unable to find a single trace of
forensic evidence to support such a
belief suggests that-de Marigny was
not the man.

Far more likely was.that de Marigny,
a womaniser with a dubious title and
obscure. exotic origins, was chosen as
fall guy to take the heat off local white
conspirators behind Sir Harry’s death:

In his brief interview with me, Levi
Gibson was uncharactistically forth-
coming, claiming that he remained on
good terms with the Oakes family and
even dined out with them when he was
in London.

He said he had personally semaine
on good terms with all the Oakes chil-
dren, and knew Nancy Oakes right up
to her death in January, 2005.

“Whenever I was in London, we
would go to dinner together,” he told .
me, “I also knew Sydney and Shirley
very well. I used to take them out when
they were kids. After the murder, the
two families (Oakes and Christie) con-
tinued to be friends.

“The fact is that Sir Harold was not
the kind of man to hurt anyone. He
wouldn’t kill a fly,” he added.

Though in his early nineties at the
time, he claimed he still went into his
office every day, and sounded nothing
like the confused, disorientated old
cove some had suggested he was.

On the contrary, Gibson was lucid
and co-operative, sticking staunchly to
his views about de Marigny and his
purported role in the Oakes murder.

In spite of that, Gibson was never
wholly free of the rumour mill. After
his death, a Bahamian told me: “It’s a
pity he died without ever really dis-
cussing the Oakes matter in detail. He
could have revealed so much. My

_ mama and most other Bahamians of

her generation believed there was
more to be told about the Oakes story.

“There is no doubt that Levi was a
rich man who came into substantial
land holdings after the war years. He
protected Sir Harold’s reputation and
did not compromise the confidence his
employer reposed in him. He goes to
his grave with secrets that would have
cast new light on the murder and all
those matters surrounding it.”

A well-known Bahamian media fig-

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